/raid1/www/Hosts/bankrupt/TCR_Public/210521.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, May 21, 2021, Vol. 25, No. 140

                            Headlines

1362 H ST. DEVELOPMENT: Case Summary & Unsecured Creditor
203 W 107 STREET: Wins July 26 Plan Exclusivity Extension
6525 BELCREST: Voluntary Chapter 11 Case Summary
ACADEMY LTD: Moody's Gives B2 Rating on New Term Loan Due 2027
ACCO BRANDS: Egan-Jones Keeps B+ Senior Unsecured Ratings

ADAM S. DASH: Dispute With Shellpoint Over $94K Sale Deposit Fixed
ADVANTAGE SPORTS: $9.2M Sale of Carrollton Asset to South West OK'd
ALLIED ESPORTS: Delays Filing of First Quarter Form 10-Q
ALLTRACON LLC: Seeks to Hire Schulte & Company as Accountant
ALM LLC: Court Extends Plan Exclusivity Until June 16

ALTO TOWNHOMES: Cambia Says Plan Fatally Flawed
AMERICAN DENTAL: Heartland Acquisition No Impact on Moody's B3 CFR
ANTERO RESOURCES: Moody's Rates New Unsecured Notes Due 2030 'B1'
APP CAR WASH: Voluntary Chapter 11 Case Summary
ASHLAND LLC: Egan-Jones Keeps B+ Senior Unsecured Ratings

AT&T INC: Moody's Affirms Ba1 Rating on Preferred Stock
ATKORE INC: Moody's Assigns Ba2 CFR & Rates New $400MM Notes Ba3
ATTENTION TO DETAIL: Seeks to Hire Bunch & Brock as Legal Counsel
AVERY ASPHALT: Seeks Cash Collateral Access Thru May 31
BAIC: U.S. Trustee Unable to Appoint Committee

BAUMANN & SONS: Unsecureds to Get At Least 30% in Liquidating Plan
BENCHMARK ELECTRONICS: Egan-Jones Keeps BB Sr. Unsecured Ratings
BEST VIEW: $4.35M Sale of Canyon County Parcels to Loves Approved
BKR IP HOLDCO: Case Summary & 8 Unsecured Creditors
BLACKSTONE DEVELOPERS: Seeks to Hire Marilyn D. Garner as Counsel

BLADE GLOBAL: $1M Sale of All Assets to Blade Acquisition Approved
BLUE STAR: Incurs $478K Net Loss in First Quarter
BOY SCOUTS OF AMERICA: Scout Pro Se Says Disclosures Inadequate
BOY SCOUTS OF AMERICA: They Could Have Their Own Rival Ch.11 Plan
BOYD GAMING: Egan-Jones Hikes Senior Unsecured Ratings to CCC-

BRAZOS ELECTRIC POWER: Court Approves Interim DIP From JPMorgan
BRINKER INTERNATIONAL: Egan-Jones Keeps CCC Sr. Unsecured Ratings
BROOKS BROTHERS: Ex-Owners Sued for $100 Million by TAL Apparel
BSK BROADWAY: Case Summary & 20 Largest Unsecured Creditors
BSK HOSPITALITY: Brown Sugar Kitchen Files for Chapter 11

BUY MOORE: Scott Chernich Named Chapter 11 Trustee
CAPSTEAD MORTGAGE: Egan-Jones Keeps B Senior Unsecured Ratings
CDRH PARENT: Moody's Deems Restructuring a Distressed Exchange
CHARTER NEXT: Moody's Assigns First Time 'B3' Corp Family Rating
CHRISTINE SKANDIS: Trustee Selling Claims to DePerno Law for $5K

CHS/COMMUNITY HEALTH: Moody's Raises CFR to B3, Outlook Stable
CIT GROUP: Egan-Jones Keeps BB+ Senior Unsecured Ratings
CLEAR CHANNEL: Moody's Gives Caa2 Rating on New Unsecured Note
CLUB COMANCHE: Case Summary & 15 Unsecured Creditors
CONDUENT BUSINESS: Moody's Rates $1.3BB Secured Loans 'B1'

CORPORATE RESOURCE: Trustee Taps Plotzker & Agarwal as Accountant
COSMOS HOLDINGS: Incurs $2.2 Million Net Loss in First Quarter
CRAVE BRANDS: Gets OK to Hire Ostrow Reisin as Accountant
CRC INVESTMENTS: Bankr. Administrator Unable to Appoint Committee
CREATD INC: Incurs $6.6 Million Net Loss in First Quarter

CROWN REMODELING: Unsecured Creditors to Recover 16.14% Under Plan
CYPRUS MINES: Judge Denies Bid to Reconstitute Tort Committee
DEER CREEK: Asks Court to Extend Plan Exclusivity Thru July 1
DEER CREEK: Unsecureds to Share Pro Rata of Asset Sale/Refinance
DELUXE CORP: Moody's Assigns 'B1' CFR on FAPS Acquisition

DENARDO CAPITAL: Seeks October 14 Plan Exclusivity Extension
DISCOVERY DAY: Hearing on Bonita Springs Property Sale Continued
EHT US1: Wants Plan Exclusivity Extended Thru August 16
ENCORE CAPITAL: Fitch Gives BB+(EXP) Rating to New GBP250MM Notes
EXCHANGE BUILDING: U.S. Trustee Unable to Appoint Committee

EXECUTIVE LIFE: CIC Gets Court Order to Close Company
FANNIE MAE & FREDDIE MAC: Gary Hindes' Latest Words About Capital
FLORIDA REO: U.S. Trustee Unable to Appoint Committee
FMC TECHNOLOGIES: Egan-Jones Keeps B+ Senior Unsecured Ratings
FRIENDS OF CITRUS: Files Modifications to Chapter 11 Plan

FRONTIER COMMUNICATIONS: Faces FTC DSL Speed Misrepresentation Suit
GARDA WORLD: Moody's Rates New $500MM Sr. Unsecured Notes 'Caa2'
GLOBAL INFRASTRUCTURE: Moody's Assigns Ba3 CFR, Outlook Stable
GRAPHIC PACKAGING: Moody's Affirms Ba1 CFR on AR Packaging Deal
GROM SOCIAL: Effects 1-for-32 Reverse Common Stock Split

GROM SOCIAL: Incurs $2.3 Million Net Loss in First Quarter
GUARDION HEALTH: Incurs $2.7 Million Net Loss in First Quarter
HEARTWISE INC: Seeks Sept. 30 Solicitation Exclusivity Extension
HELIX ENERGY: Egan-Jones Keeps B- Senior Unsecured Ratings
HERTZ CORP: Plan Confirmation Hearing Set for June 10

HERTZ GLOBAL: Shareholders May Get $8 Per Share as Deal Closes
HOSPITALITY INVESTORS TRUST: Hits Chapter 11 Bankruptcy Protection
IG INVESTMENTS: Moody's Affirms B3 CFR & Rates New $550MM Loan B2
INTEGRATED AG: Seeks to Extend Plan Exclusivity Until May 21
INTERTAPE POLYMER: Moody's Rates New $350MM Unsecured Notes 'Ba3'

JFG HOLDINGS: Court Approves Disclosure Statement
KERWIN BURL STEPHENS: $1.9M Sale of Godley Land to Seven Ten Okayed
KLAUSNER LUMBER: Unsecureds to Recover 58.1% to 100% in Plan
LA DHILLON: Unsecured Creditors to Be Paid in Full Without Interest
LEWISBERRY PARTNERS: Taps Christopher Zellman as Accountant

LUTHERAN SOCIAL: Files for Chapter 11, Winding Down
M TRAN CONSTRUCTION: Court Approves Plan Disclosures
MALLINCKRODT PLC: Acthar Plaintiffs Seek Ch.11 Trustee Appointment
MALLINCKRODT PLC: Mandos Agrees to Acquire Vtesse's Adrabetadex
MEDLEY LLC: Taps Gellert Scali as Counsel for Independent Director

MEDLEY LLC: Taps Rock Creek as Advisor for Independent Director
METHANEX CORPORATION: Egan-Jones Keeps B+ Senior Unsecured Ratings
MICHAEL F. RUPPE: $388K Sale of Dover Property to Feliz Approved
MIDTOWN CAMPUS: Plan Exclusivity Period Extended Until June 2
MMM MASONARY: Seeks Approval to Hire KC Cohen as Legal Counsel

MONARCH GROUP: Court Confirms Chapter 11 Plan
MOUNT GROUP: Seeks to Hire Lucido & Manzella as Special Counsel
MUSTANG MINING: Seeks to Extend Plan Exclusivity Until August 9
NATIONAL RIFLE ASSOCIATION: Unforced Errors Ensured Ch.11 Dismissal
NCR CORPORATION: Egan-Jones Keeps B- Senior Unsecured Ratings

NK H ST: Voluntary Chapter 11 Case Summary
NORTHERN HOLDINGS: Vineyard Assets for Sale in Bankruptcy Auction
NORTHWEST BIOTHERAPEUTICS: Incurs $4.1-Mil. Net Loss in 1st Quarter
NOV INCORPORATED: Egan-Jones Keeps B+ Senior Unsecured Ratings
NUZEE INC: Incurs $6.1 Million Net Loss in Second Quarter

ONDAS HOLDINGS: Incurs $3.1 Million Net Loss in First Quarter
PARKERVISION INC: Incurs $2.5 Million Net Loss in First Quarter
PATRICIAN HOTEL: June 29 Disclosure Statement Hearing Set
PIER 1 IMPORTS: Egan-Jones Keeps B+ Senior Unsecured Ratings
POLAR POWER: Incurs $1.9 Million Net Loss in First Quarter

PPV INC.: Court Confirms Reorganization Plan
PRESSURE BIOSCIENCES: Incurs $6.6-Mil. Net Loss in First Quarter
R.R. DONNELLEY: Egan-Jones Keeps CCC+ Senior Unsecured Ratings
RESTORNATIONS: U.S. Trustee Unable to Appoint Committee
ROCKVILLE DIOCESE: Judge Okays Ex-Adviser Appointment as Mediator

ROMANS HOUSE: McConnell Approved as Chapter 11 Trustee
RYDER SYSTEM: Egan-Jones Keeps BB- Senior Unsecured Ratings
SECURE HOME: Seeks to Hire 'Ordinary Course' Professionals
SECURE HOME: Seeks to Hire Chipman Brown as Legal Counsel
SECURE HOME: Seeks to Hire M3 Advisory, Appoint CROs

SECURE HOME: Seeks to Hire Raymond James as Investment Banker
SECURE HOME: Seeks to Hire Skadden Arps as Special Counsel
SEQUENTIAL BRANDS: Gives Execs Bonuses as Default Deadline Looms
SIRIUS XM: Egan-Jones Keeps BB+ Senior Unsecured Ratings
SKEFCO PROPERTIES: Trustee Hires James Parker as Special Counsel

SKLAR EXPLORATION: Files Second Amended Joint Plan
SOUTHERN ROCK: Wants Plan Exclusivity Extended Thru October 22
SQUARE INC: Moody's Assigns Ba2 CFR, Outlook Stable
STEVEN FELLER: Seeks to Extend Plan Exclusivity Thru July 19
SUPERCONDUCTOR TECHNOLOGIES: Updates Merger Agreement With Allied

SUSGLOBAL ENERGY: Delays Filing of First Quarter Form 10-Q
TECT AEROSPACE: Committee Hires Kilpatrick Townsend as Counsel
TECT AEROSPACE: Committee Hires Province LLC as Financial Advisor
TECT AEROSPACE: Committee Taps Womble Bond Dickinson as Co-Counsel
TGS HOSPITALITY: Wins Cash Collateral Access Thru June 8

THUNDER RAIN: To Seek Plan Confirmation on June 22
TLASJ LLC: Seeks to Hire Joyce W. Lindauer as Legal Counsel
TORRID LLC: Moody's Assigns First Time B2 Corporate Family Rating
TRANSDERMAL SPECIALITIES: Case Summary & 18 Unsecured Creditors
TRANSDERMAL SPECIALTIES INC: Case Summary & Unsecured Creditors

TTK RE ENTERPRISE: $295K Sale of Ventnor City Property to NH Okayed
TTM TECHNOLOGIES: Egan-Jones Keeps B Senior Unsecured Ratings
TUXEDO JUNCTION: Seeks to Hire Colligan Law as Legal Counsel
URBAN COMMONS GRAMERCY: Expects Unsecureds to Recover 100% in Plan
US CONCRETE: Moody's Rates New $300MM Secured Term Loan 'Ba3'

VERANO RECOVERY: Case Summary & 8 Unsecured Creditors
VYANT BIO: Incurs $7.4 Million Net Loss in First Quarter
W. KENT GANSKE: $270K Sale of Sun Prairie Asset to Steinbeck OK'd
WATERVILLE-MONCLOVA: Seeks to Hire Reichle Klein Group as Realtor
WITCHEY ENTERPRISES: June 24 Hearing on Disclosure Statement

WORK CAT: Case Summary & 20 Largest Unsecured Creditors
YUM! BRANDS: Egan-Jones Keeps B+ Senior Unsecured Ratings
[*] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power

                            *********

1362 H ST. DEVELOPMENT: Case Summary & Unsecured Creditor
---------------------------------------------------------
Debtor: 1362 H St. Development, LLC
        1362 H Street NE
        Washington, DC 20002

Business Description: 1362 H St. Development, LLC is a Single
                      Asset Real Estate debtor (as defined in 11
                      U.S.C. Section 101(51B)).  The Debtor owns
                      a restaurant located at 1362 H Street
                      NE, Washington, DC, having a comparable sale
                      value of $2 million.

Chapter 11 Petition Date: May 20, 2021

Court: United States Bankruptcy Court
       District of Carolina

Case No.: 21-00138

Judge: Hon. Elizabeth L. Gunn

Debtor's Counsel: Anitra Ash-Shakoor, Esq.
                  CAPITAL JUSTICE ATTORNEYS, LLP
                  1325 G Street NW
                  Suite 500
                  Washington, DC 20005
                  Tel: (202) 465-0888
                  Fax: (202) 827-0089
                  Email: a.ashshakoor@capitaljustice.com

Total Assets: $2,125,225

Total Liabilities: $1,659,066

The petition was signed by Napoleon Ibiezugbe, managing member.

The Debtor listed D.C. Tax & Revenue as its sole unsecured creditor
holding a claim of $29,066.

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

https://www.pacermonitor.com/view/WXRZRLY/1362_H_St_Development_LLC__dcbke-21-00138__0001.0.pdf?mcid=tGE4TAMA


203 W 107 STREET: Wins July 26 Plan Exclusivity Extension
---------------------------------------------------------
Judge Lisa G. Beckerman of the U.S. Bankruptcy Court for the
Southern District of New York extended the periods within which 203
W 107 Street, LLC and its affiliates have the exclusive right to
file a plan of reorganization through and including July 26, 2021,
and to solicit acceptances to a Plan through and including
September 24, 2021.

Since the Petition Date, the Debtors have engaged with the Parties
in Interest to build consensus concerning confirmation of the Plan
and the ultimate conclusion of these Chapter 11 Cases. Due to the
Debtors' need to focus their efforts in the first several months of
these Chapter 11 Cases on remediating conditions at the Properties,
these discussions are still in the early stages.

The Debtors have already satisfied several key milestones necessary
for confirmation of the Plan. The Debtors have obtained approval
for the consensual use of LoanCore Capital Credit REIT LLC's cash
collateral, set a claims bar date to determine the claims pool,
obtained the approval of the Disclosure Statement, and will soon
begin soliciting votes from creditors to accept the Plan. The
hearing is scheduled to confirm the Plan for July 8, 2021.

Despite the significant progress toward remediating conditions and
Housing Preservation & Development ("HPD") violations at the
Properties and obtaining consensual approval of the Disclosure
Statement, given the numerous constituencies with interests, work
remains.

Among other things, the Debtors continue to focus on analyzing the
claims pool through independent investigation of the claims
asserted before entry of the Bar Date Order. Negotiating with the
Parties-in-Interest to resolve potential objections to confirmation
of the Plan, with the ultimate goal of a value-maximizing
confirmation process and the Debtors' timely and efficient
conclusion of the Chapter 11 Cases.

And since the Petition Date, the Debtors have paid their vendors in
the ordinary course of business or as otherwise provided by orders
of the Court. Importantly, the Debtors maintain their ability to
continue to pay their bills throughout these Chapter 11 Cases in
light of the liquidity provided through the use of cash
collateral.

The extension of the Exclusivity Periods will now provide the
Debtors with the necessary time and breathing space required to
efficiently build consensus concerning the Plan and take the
necessary steps toward concluding these Chapter 11 Cases. Also, it
will ensure the Debtors can negotiate and resolve any potential
objections to confirm a Chapter 11 plan in the best interest of
creditors.

A copy of the Debtors' Motion to extend is available at
https://bit.ly/3eKUkX4 from PacerMonitor.com.

A copy of the Court's Extension Order is available at
https://bit.ly/3ozB2Z9 from PacerMonitor.com.

                            About 203 W 107 Street LLC

203 W 107 Street, LLC and 10 other entities affiliated with Emerald
Equity Group sought Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 20-12960) on December 28, 2020.

The Debtors are single asset real estate entities that own
residential buildings on 107th Street and 117th Street in
Manhattan. There are several hundred tenants currently residing in
the properties.

203 W 107 Street disclosed total assets of $7,044,031 and total
liabilities of $102,929,476 in its petition signed by Ephraim
Diamond, chief restructuring officer. Mr. Diamond and Arbel Capital
Advisors LLC have been retained to assist the Debtors and Emerald
in complying with their obligations under a restructuring support
agreement with LoanCore.

The Honorable Lisa G. Beckerman presides over the case. Backenroth
Frankel & Krinsky, LLP and Belkin Burden Goldman, LLP, serve as the
Debtors' bankruptcy counsel and special counsel, respectively.


6525 BELCREST: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 6525 Belcrest Road, LLC
        33 W 19th St.
        Suite #320
        New York, NY 11011

Business Description: 6525 Belcrest Road, LLC is the owner for the
                      real property located at 6525 Belcrest Road,
                      Hyattsville, Maryland.  The Property is
                      currently operating at 30% capacity.

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 21-10968

Judge: Hon. Michael E. Wiles

Debtor's Counsel: Mitchell Greene, Esq.
                  ROBINSON BROG WEINWAND GREENE
                   GENOVESE & GLUCK P.C.
                  875 Third Avenue
                  New York, NY 10022
                  Tel: (212) 603-6300
                  E-mail: amg@robinsonbrog.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hemant Mehta, manager.

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

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

https://www.pacermonitor.com/view/LPWUTJA/6525_Belcrest_Road_LLC__nysbke-21-10968__0001.0.pdf?mcid=tGE4TAMA


ACADEMY LTD: Moody's Gives B2 Rating on New Term Loan Due 2027
--------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Academy, Ltd.'s
proposed term loan due 2027. The company's existing ratings are
unchanged, including the B1 corporate family rating, B1-PD
probability of default rating and B2 ratings on the senior secured
term loan and notes. The speculative-grade liquidity rating remains
SGL-1. The ratings outlook remains positive.

Proceeds from the new $300 million term loan and $100 million of
balance sheet cash will be used to refinance the existing $399
million term loan, while decreasing pricing relative to the
existing facility. The new credit facility is expected to have
substantially the same terms as the existing one. The ratings on
Academy's existing term loan will be withdrawn upon its repayment
in full and the closing of the transaction.

Moody's views the transaction as credit positive because it lowers
funded debt and interest expense.

Moody's took the following rating actions for Academy, Ltd.:

Proposed senior secured 1st lien term loan due 2027, assigned B2
(LGD4)

RATINGS RATIONALE

Academy's B1 CFR reflects the competitive nature of sporting goods
retail, including the increased focus of major apparel and footwear
brands on direct-to-consumer distribution and the shift to online
shopping. In addition, sporting goods demand can fluctuate, in part
driven by demand cycles in the firearms and ammunition category.
Moody's expects revenue and earnings to decline in the second half
of 2021 and into 2022 following strong growth in 2020, as consumers
return to more normalized spending habits. This could drive an
increase in leverage to 3.1-3.5x compared to 2.6x as of January 30,
2021 (pro-forma). In addition, as a retailer, Academy needs to make
ongoing investments in its brand and infrastructure, as well as in
social and environmental drivers including responsible sourcing,
product and supply sustainability, privacy and data protection.

At the same time, Academy's rating positively considers the
company's very good liquidity, scale and solid market position in
its regions. The turnaround strategy put in place by the current
management team in 2018, including initiatives in merchandising,
private label credit card and omnichannel investment, has been
driving improved operating performance since the second half of
2019 including 7 quarters of positive comparable sales growth. In
addition, Academy's value price points and diversified product
assortment tend to result in resilient performance during economic
downturns. The rating also considers governance factors, including
the expectation for balanced financial strategies. Moody's believes
re-leveraging transactions are unlikely following the company's
2020 public equity offering, the reduction in KKR's ownership stake
to 31.7% following the secondary offerings, and roughly 50% debt
reduction from pre-IPO levels.

The positive outlook reflects Academy's outperformance relative to
expectations since the IPO, and the potential for the company to
maintain solid credit metrics as demand in the sporting goods
category moderates.

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

The ratings could be upgraded if the company demonstrates continued
growth in revenue and operating profit beyond the current period of
strong demand, while maintaining very good liquidity and balanced
financial policies. Quantitatively, the ratings could be upgraded
with expectations for Moody's-adjusted debt/EBITDA to be maintained
below 3.75 times and EBIT/interest expense above 2.5 times.

The ratings could be downgraded if earnings or liquidity
significantly deteriorate or the company experiences material
execution missteps. Aggressive financial strategy actions could
also result in a downgrade. Quantitatively, the ratings could be
downgraded if Moody's-adjusted debt/EBITDA is maintained above 4.5
times or EBIT/interest expense declines below 2.0 times.

Academy, Ltd. is a US sports, outdoor and lifestyle retailer with a
broad assortment of hunting, fishing and camping equipment, along
with footwear, apparel, and sports and leisure products. The
company operates 259 stores under the Academy Sports + Outdoors
banner, which are primarily located in Texas and the southeastern
United States, and its website. Academy generated approximately
$5.7 billion of revenue for the fiscal year ended January 30, 2021.
The company is publicly traded following the October 2020 IPO.

The principal methodology used in these ratings was Retail Industry
published in May 2018.


ACCO BRANDS: Egan-Jones Keeps B+ Senior Unsecured Ratings
---------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by Acco Brands Corporation.

Headquartered in Lake Zurich, Illinois, Acco Brands Corporation
manufactures office products.



ADAM S. DASH: Dispute With Shellpoint Over $94K Sale Deposit Fixed
------------------------------------------------------------------
Judge Laurel M. Isicoff of the U.S. Bankruptcy Court for the
Southern District of Florida issued an agreed order resolving Adam
S. Dash and Shellpoint Mortgage Servicing's dispute concerning the
$94,133.69 deposited into the Court Registry pursuant to the
Court's agreed order granting in part the Debtor's sale of the real
property located at 630 79th Street, in Miami Beach, Florida, to
Alberto B. Mendoza and Jon Condell for $970,000.

The Clerk of Court is authorized and directed to transfer the sum
of $72,500 from the Deposit in the Court Registry to the Debtor,
plus 50% of any interest earned on the Deposit no later than 10
days from the entry of the Order.

The Clerk of Court is authorized and directed to transfer
Shellpoint the sum of $21,633.99 from the Deposit in the Court
Registry to Shellpoint plus 50% of any interest earned on the
Deposit no later than 10 days after the entry of the Order.

The May 11, 2021 evidentiary hearing is cancelled.

Adam S. Dash sought Chapter 11 protection (Bankr. S.D. Fla. Case
No. 14-13785-LMI) on Feb. 18, 2014.  The Court confirmed the
Debtor's Second Amended Plan of Reorganization on Aug. 5, 2015.



ADVANTAGE SPORTS: $9.2M Sale of Carrollton Asset to South West OK'd
-------------------------------------------------------------------
Judge Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District of Texas authorized Advantage Sports, Inc. and
Advantage Sports Complex, LLC ("ASC") to sell ASC's property
located at 2800 N. IH35-E, in Carrollton, Texas, and selected
personalty, to South West Athletic Center, LLC, for $9.2 million.

Upon entry of the Order, the Debtors will be bound by the terms of
the Contract.

The closing of the sale, the Debtors (or any party acting at their
direction, such as a closing agent, title company or escrow agent)
are authorized to close the sale of the Property; and to vest title
to the Property in the Purchaser free and clear of all liens,
claims and encumbrances whatsoever other than as provided in the
Order.

At the closing of such sale, the Debtors (or any party acting at
their direction, such as a closing agent, title company or escrow
agent) is authorized and directed to pay the normal costs
associated with closing the sale of the Property including, but not
limited to, pro-rated taxes; title insurance, processing fees,
underwriting fees, flood certifications, application fees, escrow
fees, abstract or title search fees, brokerage fees, title
examination fees, document preparation fees, and notary fees.

Following payment of the Closing Costs, at the closing of such
sale, the Debtors (or any party acting at the Debtors' direction,
such as a closing agent, title company or escrow agent) is
authorized and directed to disburse the sale proceeds as follows:

      1. First, to those parties necessary to fully satisfy Closing
Costs;  

      2. Second, to any ad valorem taxing authority, an amount to
fully satisfy the real and business personal property ad valorem
taxes for the tax periods 2020 and prior (including all amounts
allowed under 11 U.S.C. Section 506(b)) against the Property;   

      3. Third, to Veritex Community Bank an amount sufficient to
pay in full Veritex Community Bank's allowed secured claims against
the Debtors including (i) aggregate principal in the amount of
$7,239,130.18, plus (ii) accrued interest as of May 6, 2021 in the
amount of $507,658.70, plus (iii) interest accrued from May 7, 2021
through the closing date of such sale at the rate of $904.89 per
day, plus (iv) all attorneys' fees and other amounts allowed under
11 U.S.C. Section 506(b) save and except the early termination fee
of $72,391.30 (collectively, Veritex's "Allowed Secured Claim");  

      4. Fourth, to LEAF Capital Funding, LLC in the amount of
$35,000, which will constitute full and final satisfaction of LEAF
Capital Funding, LLC's allowed secured claim against the Debtors'
estates secured by certain property of the Debtors' estates ("LEAF
Collateral"); and

      5. Fifth, to Origin Bank in the amount of $82,130.98, which
will constitute full and final satisfaction of Origin Bank's
allowed secured claim, filed as Proof of Claim No. 6 in the claims
register of Advantage Sports, Inc., pursuant to which Origin Bank
asserts a first-perfected, fully secured claim against the Debtors'
estates secured by certain property of the Debtors’ estates
("Origin Collateral").

Notwithstanding anything to the contrary therein, the foregoing
payments are without prejudice to the rights of the Zimmern Law
Firm, P.C. to seek the right to prime such liens and claims and
disgorge sales proceeds from the holders of such liens and claims.

Any cash collateral remaining under the control of the Debtor or
and holder of a Lien after the closing and the tendering of
payments as directed above will no longer constitute "cash
collateral" as such term is defined by 11 U.S.C. Section 363(a) and
will be remitted to the Debtors.

Upon payment of the Closing Costs and claims of the parties
provided in the preceding paragraphs, any such lienholder or any
other holder of a recorded lien or claim against the Property will
execute and promptly deliver any and all documents reasonably
necessary to release its liens, claims, interests, encumbrances and
security interests in, on, or to the Property.

Notwithstanding any provision of the Order to the contrary, the
sale of the Property to the Purchaser will not be free and clear of
any ad valorem tax liens for the year 2021 which will remain
attached to the real and business personal property and become the

responsibility of the Purchaser.

To the extent Veritex Community Bank is not paid its Allowed
Secured Claim in full, Veritex Community Bank reserves all rights
with respect to the amounts to be paid to Origin Bank and LEAF
Capital Funding LLC; and to the extent Origin Bank is not paid
$82,130.98 in satisfaction of its allowed secured claim, Origin
Bank reserves all rights with respect to the assertion of any lien
rights against the Origin Collateral and any amounts paid to any
other party in connection with the sale of the Origin Collateral;
and to the extent LEAF Capital Funding, LLC, is not paid $35,000 in
satisfaction of its allowed secured claim, LEAF Capital Funding,
LLC, reserves all rights with respect to the assertion of any lien
rights against the LEAF Collateral and any amounts paid to any
other party in connection with the sale of the LEAF Collateral.

Veritex Community Bank reserves all rights to contest the claims
made in the Zimmern Adversary, including personal jurisdiction,
subject matter jurisdiction, or any other matter therein.  

Federal Rule of Bankruptcy Procedure 6004(h) will not apply to the
Order.  

Except as explicitly set forth in the Order with respect to the
2021 taxes and the Easements, the Debtors' sale of the Property to
the Purchaser will operate to convey to the Purchaser title to the
Property, free and clear of any and all liens, claims, interests
and encumbrances, in, on, or to, the Property.

                      About Advantage Sports

Advantage Sports, Inc. owns and operates a multipurpose athletic
facility located in Carrollton, Texas.

Advantage Sports and Advantage Sports Complex, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.
Tex. Lead Case No. 20-40667) on March 2, 2020. The petitions were
signed by John W. Sample, manager.  At the time of filing, Debtors
disclosed $10 million to $50 million in assets and liabilities.
Judge Brenda T. Rhoades oversees the cases.  

Debtors have tapped Spector & Cox, PLLC as their legal counsel and
Swearingen Realty Group, LLC as their broker.



ALLIED ESPORTS: Delays Filing of First Quarter Form 10-Q
--------------------------------------------------------
Allied Esports Entertainment, Inc. filed a Form 12b-25 with the
Securities and Exchange Commission notifying the delay in the
filing of its Quarterly Report on Form 10-Q for the period ended
March 31, 2021.

On April 12, 2021, the Staff of the U.S. Securities and Exchange
Commission issued the "Staff Statement on Accounting and Reporting
Considerations for Warrants Issued by Special Purpose Acquisition
Companies", which clarified guidance for the accounting and
reporting for warrants that may have been issued by registrants
including SPACs.  The Company is a former SPAC.  The Company
continues to evaluate the accounting treatment of its public-traded
warrants and private placement warrants as equity in light of the
SEC Statement, including the accounting treatment to be reflected
in the Company's Form 10-Q for the period ended March 31, 2021.  As
a result, such Form 10-Q cannot be filed within the prescribed time
period, and will be filed on or before the fifth calendar day
following the prescribed due date.

Revenues from continuing operations for the three-months ended
March 31, 2021 are expected to be approximately $501,000, compared
to $1.1 million for the same period in 2020.  Net loss from
continuing operations for the three-months ended March 31, 2021 are
anticipated to be $5 million compared to $9.1 million for the same
period in 2020.  Aggregate net loss for the three-months ended
March 31, 2021 is anticipated to be $3.3 million, compared to $8.8
million in 2019.  The foregoing are a result of, among other
things, the presentation of the results and accounts of the
Company's World Poker Tour business as discontinued operations, and
does not take into account the impact of changes, if any, to the
historical accounting treatment of the Warrants as equity in light
of the SEC Statement.

                           Allied Esports

Headquartered in Irvine, California, Allied Esports Entertainment,
Inc. -- www.alliedesportsent.com -- operates a public esports and
entertainment company, consisting of the Allied Esports and World
Poker Tour businesses.

Allied Esports reported a net loss of $45.06 million for the year
ended Dec. 31, 2020, compared to a net loss of $16.74 million for
the year ended Dec. 31, 2019.

Melville, New York-based Marcum LLP, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
April 12, 2021, citing that the Company has a working capital
deficiency from continuing operations, has incurred significant
losses and needs to raise additional funds to meet its obligations
and sustain its operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


ALLTRACON LLC: Seeks to Hire Schulte & Company as Accountant
------------------------------------------------------------
Alltracon LLC and Alltracon Trucking, LLC seek approval from the
U.S. Bankruptcy Court for the Northern District of Ohio to employ
Schulte & Company CPAs, Inc. as their accountant.

The firm will provide these services:

   a. prepare tax returns;

   b. communicate with various taxing authorities; and

   c. perform all other necessary and general tax services required
throughout the Debtors' Chapter 11 cases.

Schulte & Company will be paid at these rates:

     Directors               $250 per hour
     Managers                $200 per hour
     Supervisors             $150 per hour
     Staff Accountant        $75 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

Alexander Schulte, a director at Schulte & Company, 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:

     Alexander J. Schulte
     Schulte & Company CPAs, Inc.
     600 S Cleveland Massillon Rd
     Fairlawn, OH 44333
     Tel: (330) 670-0600

                          About Alltracon

Alltracon LLC -- http://alltracon.com.-- is a structural steel
erector, steel fabricator, rigger and heavy machinery mover based
in Medina, Ohio.

Alltracon and its affiliate, Alltracon Trucking LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Ohio Lead Case No. 21-50435) on March 21, 2021.  Judge Alan M.
Koschik oversees the cases.

At the time of the filing, Alltracon had estimated assets of
between $100,000 and $500,000 and liabilities of between $1 million
and $10 million.  Alltracon Trucking disclosed total assets and
liabilities of up to $50,000.

Brouse McDowell, LPA and Schulte & Company CPAs, Inc. serve as the
Debtors' legal counsel and accountant, respectively.


ALM LLC: Court Extends Plan Exclusivity Until June 16
-----------------------------------------------------
Judge Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico extended by 60 days the periods within
which Debtor ALM LLC d/b/a Agua La Montana has the exclusive right
to file a Plan of reorganization and Disclosure Statement and to
secure votes to confirm a Plan through and including June 16,
2021.

According to the Debtor, this request is being made in good faith
because there are several matters pending that will have a direct
impact on the documents to be filed. Principally, the approval of
the cash collateral for the Debtor to continue with the
going-concern value of the business is crucial. A hearing has been
scheduled for May 19, 2021.

Furthermore, a Motion to Dismiss or Convert was filed on May 12,
2021, and will be properly addressed by the Debtor. The Honorable
Court granted fourteen days for the Debtor to object, and a hearing
is scheduled for June 9, 2021.

The preparation of the Disclosure Statement and the Plan of
Reorganization has been disrupted by the creditor, Canyon Square
Investments, LLC's opposition to the use of the cash collateral and
the motion to dismiss or convert.

The Debtor is meeting its obligations as a Debtor-in-Possession
including the timely filing of the Monthly Operating Reports.

The extension of time will increase the possibilities of a
successful reorganization to the benefit of all creditors and the
estate. It will allow the Debtor to continue with its going
concern.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3vapzSc from PacerMonitor.com.

A copy of the Court's Extension Order is available at
https://bit.ly/3tY1JaU from PacerMonitor.com.

                                  About ALM LLC

ALM, LLC, a/k/a Agua La Montana, is the owner of a fee simple title
to a property located in Trujillo Alto, Puerto Rico having a
current value of $860,943.

ALM, LLC filed a voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. D.P.R. Case No. 20-04571) on November
25, 2020. The petition was signed by Kristian E. Riefkohl Bravo,
president. At the time of the filing, the Debtor disclosed total
assets of $1,083,384 and total liabilities of $2,919,967.

Judge Mildred Caban Flores is the case judge. The Debtor tapped
Gandia Fabian Law Office as counsel and Jose Victor Jimenez, CPA,
of Jimenez Vazquez & Associates, PSC as an accountant.


ALTO TOWNHOMES: Cambia Says Plan Fatally Flawed
-----------------------------------------------
Cambia Capital Partners, LLC and Cambia Investments, LLC, filed a
Joint Objection to the Disclosure Statement of Alto Townhomes on
Hall, LLC.  

Cambia asserts that the Disclosure Statement fails to comply with
Section 1125 of the Bankruptcy Code as it lacks adequate
information on a wide range of significant issues. First and
foremost, the Disclosure Statement provides only a vague outline of
$10.4 million of new capital in order to complete the Debtor's
dormant single real estate asset (the "Property"), allegedly in the
form of new financing and new equity. However, the Disclosure
Statement fails to include any details on the source or terms of
this new capital and glosses over the fact that this new capital is
part of an insider transaction also involving a similar
single-asset affiliate known as TLASJ, LLC ("Legacy") currently in
bankruptcy in the Western District of Texas. Upon information and
belief, this transaction will result in the Debtor's existing
preferred equity holder, Four Arrow Funding, Inc. ("Four Arrow"),
remaining in control through a new joint venture while various Alto
creditor groups receive less than a full recovery, including
Cambia. In addition, the Disclosure Statement lacks sufficient
and/or correct information on the following: (a) relevant financial
information, data, valuations, or projections; (b) the anticipated
future operations and management of the Debtor, including
relationships with affiliates; (c) the present condition of the
Debtor, including a description and valuation of its assets; (d)
the estimated return to creditors under a Chapter 7 liquidation;
(e) the Debtor's scheduled claims; and (f) certain other categories
described below (including the previously undisclosed existence of
the Debtor's bank account and pre-petition transfers with
affiliates). Given these critical omissions, the Disclosure
Statement should be denied.

According to Cambia, even if this lack of disclosure was cured, the
Plan described by the Disclosure Statement is fatally flawed such
that disapproval of the Disclosure Statement is warranted.  It
claims that without further information to substantiate the new
financing, the Plan is simply not feasible.  Moreover, Cambia adds
that this funding would not even be sufficient to fund the full
secured claims of Cambia Capital and Cambia Investments as well as
the other proposed use of funds under the Plan. In fact, the
Debtor's own Disclosure Statement confirms this funding shortfall,
which further challenges the feasibility of the Plan.  Cambia also
has considerable questions about the Debtor's undisclosed bank
account and any transfers with affiliates and/or insiders. Based on
these issues and others raised below, the Plan is fatally flawed
such that the Disclosure Statement should not be approved.

Attorneys for Cambia Capital Partners:

     H. Brandon Jones
     J. Robertson Clarke
     BONDS ELLIS EPPICH SCHAFER JONES LLP
     420 Throckmorton Street, Suite 1000
     Fort Worth, Texas 76102
     Tel: (817) 405-6900
     Fax: (817) 405-6902
     E-mail: brandon@bondsellis.com
             robbie.clarke@bondsellis.com

                  About Alto Townhomes on Hall

The Alto Townhomes on Hall, LLC is a single asset real estate
debtor (as defined in 11 U.S.C. Section 101(51B)).

The Alto Townhomes on Hall sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Texas Case No. 21-30379) on March
2, 2021. Lawrence Selevan, managing member, signed the petition. At
the time of the filing, the Debtor disclosed assets of between $1
million and $10 million and liabilities of between $10 million and
$50 million. Judge Harlin Dewayne Hale oversees the case.  The
Debtor is represented by Joyce W. Lindauer Attorney, PLLC.


AMERICAN DENTAL: Heartland Acquisition No Impact on Moody's B3 CFR
------------------------------------------------------------------
Moody's Investors Service views American Dental Partners, Inc.
combination with Heartland Dental, LLC as credit positive for
American Dental. There is no change to the ratings, including the
B3 Corporate Family Rating, B3-PD Probability of Default rating,
and B2 first lien senior secured debt rating. The rating outlook is
unchanged at negative.

Heartland, (B3, Stable), announced on May 14, 2021 that it will be
acquiring American Dental for $660 million dollars. Heartland
provides support staff and comprehensive business support functions
under administrative service agreements to its affiliated dental
offices, organized as professional corporations. Heartland
currently operates more than 1,400 offices across 38 states.
Heartland is majority-owned by KKR, and Ontario Teachers' Pension
Plan Board maintains partial ownership. The company generated about
$1.5 billion in net patient service revenue as of December 31,
2020. The acquisition is anticipated to close in the second quarter
2021 and be fully debt funded. Moody's expects American Dental's
outstanding senior secured credit facilities to be repaid at close
and Moody's will withdraw the ratings at that time. The negative
outlook reflects the risk that the acquisition is not completed as
planned.

The acquisition is a credit positive as it will expand the size and
scale of American Dental. American Dental will benefit from
Heartland's beneficial procurement contracts, payor reimbursement
and lab savings. Additionally, Heartland will look to add value to
American Dental by expanding their scope of services including
adding hygienists to offices. Although there is integration risk
given the size of the acquisition, it should be limited given the
two companies have complimentary businesses and that the offices
will continue to be run by the same dentists.

American Dental Partners, Inc. provides management services to
affiliate dental centers, which are primarily focused on general
dentistry and hygiene, with a growing focus on aesthetic segments
(orthodontics, endodontics, periodontics). American Dental
Partners, Inc. currently operates approximately 278 offices across
21 states. American Dental is majority-owned by JLL Partners, Inc.
The company generated about $250 million in net patient service
revenue as of December 31, 2020.


ANTERO RESOURCES: Moody's Rates New Unsecured Notes Due 2030 'B1'
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Antero Resources
Corporation's proposed senior unsecured notes due 2030. Antero's
Ba3 Corporate Family Rating (CFR), other ratings and stable outlook
were unchanged.

Net proceeds from the proposed debt offering will be used to redeem
the 2023 notes that were recently called by Antero.

"This note offering will not change Antero's total debt level, but
it will improve the company's maturity profile by pushing out the
nearest note maturity to 2025," said Sajjad Alam, Moody's Senior
Analyst.

Assignments:

Issuer: Antero Resources Corporation

Proposed senior unsecured notes due 2030, Assigned B1 (LGD5)

RATINGS RATIONALE

The proposed unsecured notes will rank equally in right of payment
with Antero's existing senior unsecured notes and hence were
assigned the same rating. Antero's senior unsecured notes are rated
B1, below the Ba3 CFR because of the significant size of the
secured credit facility, which has a first-lien priority claim to
substantially all of Antero's assets. The unsecured notes have
upstream guarantees from substantially all of Antero's E&P
subsidiaries that also guarantee the secured revolving credit
facility.

Antero's Ba3 CFR reflects its improving but high financial leverage
on a consolidated basis (for Antero Midstream), exposure to
volatile natural gas and natural gas liquids (NGLs) prices,
geographic concentration in Appalachia, and significant undeveloped
reserves and shale focused operations. While Antero's diversified
firm-transportation pipeline contracts have historically helped
realize higher prices, the company pays high tariff rates and has a
higher overall midstream cost structure than its Appalachian peers.
The credit profile is supported by Antero's large natural gas
production and reserves in Appalachia, significant natural gas
liquids (-30%) in the production mix, consistent long-term hedging
philosophy that reduces risk and improves cash flow visibility,
reduced operating and development costs, and significant ownership
of Antero Midstream Corporation, which could be a source of
alternate liquidity.

Antero should have good liquidity through 2022, which is reflected
in the SGL-2 rating. Moody's expects significant free cash flow
generation through 2022 enabling Antero to reduce debt by an
additional $200-$400 million and fully extinguish revolver
drawings. Antero will not have any notes maturity until 2025
assuming a full redemption of the 2023 notes after the company's
recent decision to call those bonds. Antero had $1.76 billion in
available borrowing capacity as of March 31, 2021 after accounting
for $742 million of LC outstanding.

Antero's stable rating outlook reflects Moody's expectation of
continued deleveraging and significant free cash flow generation
through 2022.

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

An upgrade would be contingent on Antero's ability to produce free
cash flow on a consistent basis, maintain capital efficiency and
achieve material debt reduction. More specifically, an upgrade
could be considered if the company can sustain the leveraged
full-cycle ratio (LFCR) above 1.5x and maintain a retained cash
flow to debt ratio above 30% on a consolidated basis. Antero's
ratings could be downgraded if retained cash flow to debt remains
below 20%, the LFCR approaches 1x, or the company generates
recurring or substantial negative free cash flow.

The principal methodology used in this rating was Independent
Exploration and Production Industry published in May 2017.

Antero Resources Corporation is a leading natural gas and natural
gas liquids producer in the Marcellus and Utica Shales in West
Virginia, Ohio and Pennsylvania.


APP CAR WASH: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: APP Car Wash LLC
        4650 W Fullerton Ave
        Chicago, IL 60639

Chapter 11 Petition Date: May 20, 2021

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 21-06550

Judge: Hon. Lashonda A. Hunt

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

Debtor's
Local
Counsel:           Paul M. Bauch, Esq.
                   Carolina Y. Sales, Esq.
                   BAUCH & MICHAELS, LLC
                   53 W. Jackson Blvd., Suite 1115
                   Chicago, Illinois 60604
                   Tel: (312) 588-5000
                   Fax: (312) 427-5709
                   Email: csales@bmlawllc.com
                          pbauch@bmlawllc.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Paras Sharma, executive officer.

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

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

https://www.pacermonitor.com/view/DAECLDQ/APP_Car_Wash_LLC__ilnbke-21-06550__0001.0.pdf?mcid=tGE4TAMA


ASHLAND LLC: Egan-Jones Keeps B+ Senior Unsecured Ratings
---------------------------------------------------------
Egan-Jones Ratings Company, on May 6, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by Ashland LLC.

Headquartered in Covington, Kentucky, Ashland LLC operates as a
specialty chemical company.



AT&T INC: Moody's Affirms Ba1 Rating on Preferred Stock
-------------------------------------------------------
Moody's Investors Service affirmed AT&T Inc.'s Baa2 senior
unsecured debt ratings, Prime-2 (P-2) short-term commercial paper
rating, and Ba1 ratings on the company's preferred stock. The
outlook is stable.

The affirmation of AT&T's ratings reflects Moody's expectations
that the spinoff of WarnerMedia will bring proforma leverage
(Moody's adjusted debt to EBITDA) down by .2x and that the company
will be able to reduce its leverage to below 3.5x within 12 to 18
months after the transaction closing. The affirmation also strongly
reflects Moody's expectations that the company's important move to
cut its dividend after the close imparts management's deep
commitment to strengthening its credit profile and competitive
positioning as it will provide the company more financial
flexibility to reinvest capital into its wireless and fiber
business opportunities and pay down additional debt to strengthen
the balance sheet in the future. The company will be weakly
positioned relative to its Baa2 long term senior unsecured debt
ratings until about a year or more after the transaction closes,
but Moody's believe that the company remains committed to building
a stronger foundation beneath its present Baa2 debt ratings.

Affirmations:

Issuer: AT&T Inc.

Senior Unsecured Bank Credit Facility, Affirmed Baa2

Commercial Paper, Affirmed P-2

Pref. Stock, Affirmed Ba1

Pref. Stock Non-cumulative, Affirmed Ba1

Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Senior Unsecured Shelf, Affirmed (P)Baa2

Issuer: AT&T Corp.

Backed Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Issuer: Indiana Bell Telephone Company, Inc.

Backed Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Issuer: Pacific Bell

Backed Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Outlook Actions:

Issuer: AT&T Inc.

Outlook, Remains Stable

Issuer: AT&T Corp.

Outlook, Remains Stable

Issuer: Indiana Bell Telephone Company, Inc.

Outlook, Remains Stable

Issuer: Pacific Bell

Outlook, Remains Stable

RATINGS RATIONALE

On May 17, 2021, AT&T announced that the company will spin off and
divest its WarnerMedia business, excluding Xandr, which will then
merge with Discovery Communications, LLC (Discovery, Baa3 stable).
Under the terms of the agreement, the transaction will be
structured as an all-stock, Reverse Morris Trust transaction.
WarnerMedia will be spun or split off to AT&T's shareholders via
dividend or through an exchange offer or a combination of both and
simultaneously combined with Discovery. Prior to the combination,
WarnerMedia is expected to raise new debt which will be transferred
via dividend to AT&T. As a result, AT&T would receive $43 billion
(subject to adjustment) in net debt relief, and AT&T's shareholders
would receive stock representing 71% of the new company (New
Company or Combined Company); Discovery shareholders will own 29%
of the New Company. WarnerMedia has secured fully committed
financing from JPMorgan Chase Bank, N.A. and affiliates of Goldman
Sachs & Co. LLC for the purposes of funding the distribution for
net debt relief. The Transaction is anticipated to close in
mid-2022, subject to approval by Discovery shareholders - which
Moody's believe is highly probable given the effective joint
control of the company by the Newhouse family and Dr. John Malone,
and customary closing conditions, including receipt of regulatory
approvals. No vote is required by AT&T shareholders.

On a pro-forma basis and before accounting for Moody's plan to
proportionately consolidate the pro-forma 70% ownership of DirecTV,
AT&T expects its remaining assets in 2021 to generate revenues of
about $117 billion and adjusted EBITDA (management's calculation)
of about $42 billion. The company also guided to low-single digit
revenue growth and mid-single digit pro-forma growth in adjusted
EBITDA and adjusted EPS from 2022 to 2024. AT&T also announced that
the company will resize its dividend to account for the
distribution of WarnerMedia to AT&T shareholders. After close and
subject to AT&T Board approval, AT&T expects an annual dividend
payout ratio of 40% to 43% on anticipated pre-dividend free cash
flow of over $20 billion. With the lower dividend, the company
expects to increase capital investment for incremental and
accelerated investments in 5G and fiber broadband and expects
annual capital expenditures of around $24 billion once the
transaction closes. AT&T also expects its 5G C-band network will
cover 200 million people in the U.S. by year-end 2023 and plans to
expand its fiber footprint to cover 30 million customer locations
by year-end 2025.

AT&T currently benefits from leading positions, important brands,
scale, and revenue diversity that result in substantial qualitative
credit strength potential. AT&T, a market leader in many of its
businesses, has valuable assets, predictable revenue, and healthy
margins. But these qualitative strengths are offset by outsized
shareholder dividends, anemic top line growth and subscriber losses
in several of its important segments. Moody's believe the company
is facing secular, competitive and transition pressures in its
primary segments due to continued vulnerability from business
disruption across its end markets. In addition, continued material
subscriber losses could further limit financial flexibility and
capacity relative to its credit ratings in the future unless
mitigated with debt reduction. Moody's believe that the divestiture
of WarnerMedia would be credit negative due to the loss of asset
value, cash flows and diversity, if not for the debt and the
dividend reductions. Moody's also believe that the company's
culture and experience are better tuned to its telecommunications
franchises, and the transitional pressures in the media business
have posed a distraction for management which upon the transaction
close, Moody's expect greater singular focus.

AT&T's credit metrics and positioning for its Baa2 rating
materially improved in 2019 following a year of focused debt
reduction. However, AT&T's leverage (Moody's Adjusted) is about
3.8x, up about 0.5x from FY 2019 due to the negative effects from
the pandemic on many of the company's businesses as well as the
costs associated with the launch of HBOMAX. The company generated
free cash flow and reduced debt slightly in 2020, which was a
result of temporary working capital benefits from studio shutdowns
and lower production and marketing costs from rescheduled film
releases. Moody's expect a reversal of the debt reduction trend and
further improvement in credit metrics to be delayed following the
company's partially debt-funded spectrum investment, along with a
potential for leverage to increase further as pre-pandemic fiscal
quarters fall off through the end of the first quarter of 2021. The
company has ceased share repurchases and suspended increases in its
dividend. Following the close of the WarnerMedia spinoff, Moody's
believes management's new prioritization messaging is as follows:
1) Invest in fiber/5G; 2) restore the balance sheet to historical
strength levels; and 3) support the new dividend threshold. Moody's
believe that AT&T's $27 billion wireless spectrum investment and
plans to accelerate spending to bring it on line and add fiber is
consistent with the first priority. AT&T has outlined its strategy
to return the strength of the company's balance sheet towards
pre-COVID pandemic levels, and Moody's is more confident that the
company's new financial policy will help management execute its
plan to reduce its leverage back towards company's target levels.

AT&T's exposure to governance considerations reflects the company's
financial policy, which historically has been very aggressive given
its levered capital structure, its high common stock dividend, and
experience with shareholder activism. However, the company's
announcement to resize the dividend to a dividend payout ratio of
40 to 43% will provide the company further financial flexibility.
If corporate taxes are raised as proposed by the current US
administration, that could moderately constrain the company's
financial flexibility when considering the company's current plans.
As of December 31, 2020, company-calculated net debt to EBITDA was
2.7x (estimated to be about 3.6x on a Moody's adjusted net debt
basis). AT&T's leverage will continue to rise in 2021 following the
company's debt-funded capital investment in C-band spectrum, but
Moody's believe that the company will be able to reduce it leverage
back to 3.5x or below by the end 2023 with the WarnerMedia and
other divestiture proceeds and free cash flows. Consistent with the
company's new guidance, Moody's believes that paying down debt will
be the main priority for AT&T after investing in its business, and
Moody's believe that is the correct strategic order.

AT&T's short-term rating is Prime-2 (P-2). Moody's expects that
AT&T will maintain good liquidity over the next 12 to 18 months. As
of March 31, 2020, AT&T held around $11.3 billion in cash, which
was augmented by two undrawn $7.5 billion committed bank facilities
totaling $15 billion and which mature in December 2023 and November
2025, respectively. The facilities provide same-day availability
for US dollar advances and are subject to an ongoing maintenance
test (net debt/EBITDA of 3.5x -- excludes Moody's adjustments). In
January 2021, the company also entered into a $14.7 billion term
loan credit agreement and in March 2021, the company drew $7.35
billion and terminated the remaining $7.35 billion. The company
also borrowed about $7.1 billion within its commercial paper
program. The proceeds from the term loan facility and commercial
paper were used to partially finance the acquisition of additional
spectrum in the C-band auction. Moody's expects AT&T to remain
comfortably in compliance with the leverage covenant. Moody's
expect annual free cash flow of at least $10 billion for the next
12 months. This free cash flow amount does not include additional
liquidity available from the company's accounts receivable (A/R)
securitization program nor after-tax in process asset sale
proceeds. Moody's believes AT&T typically carries between $5 and $6
billion dollars of cash on its balance sheet for working capital
purposes. As of March 31, 2021, AT&T has about $2.7 billion of
long-term debt maturities coming due in 2021. Moody's believe that
AT&T's free cash flow, proceeds from asset sales, along with
proceeds from the company's A/R securitization facility will be
sufficient to meet upcoming cash needs for the next 12 months.

Despite currently being weakly positioned for the Baa2 rating, the
stable outlook reflects Moody's expectation for recovery and
improvement in operating performance over the next 18 months as the
effects of the pandemic subside. It also reflects Moody's view that
AT&T will use the dividend proceeds from divesting WarnerMedia to
pay down debt and lower maturity towers to under expected annual
free cashflow levels. It also, assumes that the company will
endeavor to reduce leverage to or under 3.50x (including Moody's
adjustments) within 12 to 18 months after close of the divestment.
Finally, it includes an expectation that the company will invest in
5G and fiber to advance its competitive position to sustain its
wireless market share and reap the future benefits of IoT
enterprise applications which Moody's believe will be robust over
the medium to long term. Moody's also anticipates that the degree
of structural subordination in AT&T's post-close capital structure
will be managed to moderate levels.

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

Moody's could raise AT&T's debt ratings if fundamental growth
improves, including subscriber numbers, the company continues
investing robustly in 5G deployment and fiber network, and if
leverage (including Moody's adjustments) falls and is sustained
below 3.0x and free cash flow is stable and free cash flow to debt
metrics improve.

Moody' could downgrade AT&T if leverage is sustained above 3.5x
(including Moody's adjustments) or if free cash flow to debt
metrics narrow materially. In addition, stronger credit metrics
could be needed or debt ratings could be lowered if fundamentals
for the company decline materially due to competitive pressures. If
liquidity is deemed to be inadequate and the company faces moderate
to high refinancing risks, rating pressure could also rise.

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

AT&T Inc. (AT&T), the largest telecommunications company in the US,
has its headquarters in Dallas, Texas. In June 2018 AT&T completed
its merger with Warner Media, LLC, adding the global media and
entertainment platforms of Warner Bros., HBO and Turner to its
sizable mobile, video, and broadband customer relationships. In the
last twelve months ending in March 31, 2021 AT&T generated about
$173 billion of revenue.


ATKORE INC: Moody's Assigns Ba2 CFR & Rates New $400MM Notes Ba3
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Atkore Inc.'s
proposed $400 million senior unsecured notes and assigned a Ba2
corporate family rating, Ba2-PD probably of default rating, a
Speculative Grade Liquidity rating of SGL-1 and a positive ratings
outlook to Atkore Inc. At the same time, Moody's affirmed the Ba1
rating on the senior secured term loan issued by Atkore
International, Inc. and its positive ratings outlook remains
unchanged. Moody's withdrew the existing Ba2 corporate family,
Ba2-PD probability of default rating and the SGL-1 speculative
grade liquidity rating for Atkore International Inc. since it is
Moody's convention to assign the "issuer" ratings to the highest
level in a family's corporate structure that has rated debt.

Atkore plans to use the proceeds from the notes along with the
proceeds from a new $400 million term loan B to pay off its
existing term loan and to cover fees and expenses. The rating on
the existing term loan will be withdrawn when it is paid off.

Assignments:

Issuer: Atkore Inc.

Corporate Family Rating, Assigned Ba2

Probability of Default Rating, Assigned Ba2-PD

Speculative Grade Liquidity Rating, Assigned SGL-1

Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD5)

Affirmations:

Issuer: Atkore International, Inc.

Senior Secured First Lien Bank Credit Facility, Affirmed Ba1
(LGD3)

Withdrawals:

Atkore International, Inc.

Corporate Family Rating, previously Ba2

Probability of Default Rating, previously Ba2-PD

Speculative Grade Liquidity Rating, previously SGL-1

Outlook Actions:

Issuer: Atkore Inc.

Outlook, Assigned Positive

Issuer: Atkore International, Inc.

Outlook, Remains Positive

RATINGS RATIONALE

Atkore's Ba2 corporate family rating is supported by its relatively
low leverage, ample interest coverage, large market share in key
products, attractive position in certain end markets, its enhanced
focus on core product categories, pricing discipline and
operational efficiencies, and its very good liquidity profile. The
rating also reflects Atkore's moderate scale and limited diversity
versus higher rated companies in the manufacturing sector and its
reliance on non-residential construction activity, which drives
demand for most of its electrical and tubular products. The rating
also considers the highly competitive market in which the company
operates, its limited product differentiation, and its acquisitive
history and plans to consistently grow through acquisitions in the
future.

Atkore's operating performance has materially strengthened in the
first half of fiscal 2021 (ended September 2021) and is expected to
remain robust in the near-term due to significantly improved
product pricing driven by the company's ability to meet demand
despite raw material and product shortages, particularly in PVC
electrical conduit and fittings and to a lesser extent metal
electrical conduit and fittings. This has enabled the company to
substantially widen the spreads between the cost of its raw
materials and its finished products prices, while also benefitting
from the contributions from acquired companies, productivity
improvements and continued high demand in key end markets such as
residential construction, warehouses and data centers. As a result,
Atkore generated adjusted EBITDA of $336 million in the first half
of fiscal 2021 versus $339 million in the full fiscal year of 2020.
Moody's anticipate these positive trends will continue in the
second half of the fiscal year and the company will produce full
year adjusted EBITDA that is around twice as much as the amount
generated in fiscal 2020.

The strong operating performance along with effective working
capital management has enabled the company to generate $133 million
in free cash flow in 1H21 and to raise its cash balance to $304
million while repaying $40 million of debt, repurchasing $35
million of its common stock and completing acquisitions with a
total purchase price of $44 million. Moody's expect full year free
cash flow in the range of around $350 million and anticipate the
company will continue its balanced capital allocation while
maintaining relatively conservative financial policies.

Atkore's substantially improved operating performance and its
recent debt paydown have resulted in materially stronger credit
metrics. Atkore's adjusted leverage ratio (debt/EBITDA) declined to
1.7x in March 2021 from 2.6x in September 2020 while its interest
coverage (EBITA/Interest) rose to 11.7x from 6.6x.

Moody's expect these metrics to strengthen further in the second
half of fiscal 2021 as the company continues to benefit from the
same dynamics as the first half of the year. Its operating
performance is expected to materially weaken in fiscal 2022 as raw
material and product availability improves and product pricing
declines. However, its credit metrics are likely to remain strong
for its Ba2 corporate family rating and another ratings upgrade is
possible, but further upside potential will be constrained by its
moderate scale and somewhat limited end market diversity.

Atkore's speculative grade liquidity rating of SGL-1 reflects its
very good liquidity profile and its consistent free cash
generation. The company had $304.5 million of cash and $315.5
million of borrowing availability on its $325 million asset based
revolving credit facility as of March 2021. Atkore had no
outstanding borrowings on the revolver which has historically been
used for seasonal and cyclical working capital support and to fund
acquisitions, but is unlikely to be used in the near term
considering the company's sizeable cash balance and strong free
cash flow. The ABL matures in August 2023, but the company plans to
amend the facility in conjunction with its debt refinancing and to
extend the maturity to May 2026.

The Ba1 rating assigned to the first lien term loan is one notch
above Atkore's Ba2 corporate family rating since it benefits from a
first priority lien on the tangible and intangible assets not
securing the ABL revolver and a second lien on the ABL collateral.
It is also supported by the loss absorbing buffer provided by the
proposed unsecured notes.

Atkore's positive ratings outlook reflects Moody's expectation that
its operating results will surge in fiscal 2021 before materially
weakening in fiscal 2022, but that its credit metrics will remain
strong for the current rating.

Atkore's moderate scale and somewhat limited end market
diversification versus other higher rated companies in the
manufacturing sector limit its upside ratings potential. However,
the company's rating could be upgraded if its leverage ratio
(Debt/EBITDA) is sustained at less than 2.5x, EBITA margins above
15% and it maintains very good liquidity.

Moody's has decided to withdraw the ratings for its own business
reasons.

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

Atkore's rating could be lowered if Debt/EBITDA exceeds 3.5x or
EBITA margins fall below 11% on a sustained basis. A material
contraction in liquidity could also result in a downgrade.

Atkore Inc., headquartered in Harvey, Illinois is a manufacturer of
Electrical products primarily for the non-residential construction
and renovation markets and Safety & Infrastructure solutions for
the construction and industrial markets. These products include
steel and PVC electrical conduit and fittings, armored and
metal-clad cable and metal framing and support structures such as
cable trays, ladders and wire baskets, as well as galvanized
mechanical tubes. The company operated 38 manufacturing facilities
and 27 distribution facilities as of September 30, 2020 and has two
reportable segments: Electrical (about 75% of sales) and Safety &
Infrastructure Solutions (25%). Atkore's revenues for the trailing
twelve months ended March 26, 2021 were approximately $2.0 billion.
Atkore International, Inc. (Atkore) is a wholly owned subsidiary of
Atkore International Holdings Inc., which in turn is 100% owned by
Atkore Inc.

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


ATTENTION TO DETAIL: Seeks to Hire Bunch & Brock as Legal Counsel
-----------------------------------------------------------------
Attention to Detail Auto Detailing, LLC seeks approval from the
U.S. Bankruptcy Court for the Eastern District of Kentucky to
employ Bunch & Brock, PSC to handle its Chapter 11 case.

The firm will be paid at these rates:

     Attorneys                $350 to $500 per hour
     Law Clerks                   $100 per hour
     Staffs                       $90 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

Matthew Bunch, Esq., a partner at Bunch & Brock, 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:

     Matthew B. Bunch, Esq.
     Bunch & Brock, PSC
     126 W. Maxwell Street, Suite 200
     Lexington, KY 40508
     Tel: (859) 254-5522
     Email: matt@bunchlaw.com

             About Attention to Detail Auto Detailing

Attention to Detail-Auto Detailing, LLC provides car wash and
cleaning detail services to automobiles at two locations –- on
Forbes Road and Versailles Road, in Lexington, Ky.  It conducts
business under the name Detail Lex.

Attention to Detail-Auto Detailing sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. E.D. Ky. Case No. 21-50540)
on May 5, 2021. In the petition signed by Daryl Andrew Lyons, chief
executive officer and president, the Debtor disclosed up to $50,000
in assets and up to $500,000 in liabilities.  Bunch & Brock, PSC is
the Debtor's legal counsel.


AVERY ASPHALT: Seeks Cash Collateral Access Thru May 31
-------------------------------------------------------
Avery Asphalt, Inc. and affiliates ask the U.S. Bankruptcy Court
for the District of Colorado for entry of an order approving a
stipulated order authorizing the Debtor's use of cash collateral
through May 31, 2021.

The Debtor asserts that it needs to use Cash Collateral to permit,
among other things, the orderly continuation of the operation of
its business, maintain business relationships with vendors,
suppliers and customers, make payroll and satisfy other working
capital needs.

Sunflower Bank, N.A., Greenline CDF Subfund XXIII LLC, the Colorado
Department of Revenue, and Nationwide Mutual Insurance Company
assert that they have valid, perfected security interests in
substantially all the Debtors' personal property, including, but
not limited to the Debtors' accounts, equipment, general
intangibles, inventory, proceeds thereof and other assets.

In addition to its perfected security interest created by the UCC-1
financing statement that it filed, Nationwide also asserts rights
of equitable subrogation on all bonded contract funds, which is not
a security interest requiring perfection pursuant to a UCC-1
financing statement and which Nationwide asserts is superior to any
perfected security interest. Nationwide also asserts it has
equitable rights of subrogation and that under such rights,
payments made under its performance and payment bonds place
Nationwide in the shoes of the bond obligees for whom payments are
made, the contractors whose debts are satisfied and subcontractors
and other creditors whose claims are paid.

CODOR asserts that Colorado has a statutory lien to secure the
payment of wage withholding taxes. Section 39-22-604(7)(a), C.R.S.,
provides that Colorado "will have a lien to secure the payment of
any amounts withheld and not remitted as provided in this section
upon all of the assets of the employer and all property.

CODOR claims a senior statutory lien against the Colorado Debtor's
Prepetition Personal Property. As between Sunflower, Greenline and
Nationwide, Sunflower asserts that it was first to file UCC- 1
financing statements against Debtors and claims to have a
first-priority consensual security interest in Debtors'
Pre-Petition Personal Property.

Avery, Sunflower, CODOR, Greenline, and Nationwide have reached
agreement regarding the Debtor's further use of cash collateral.
The parties agree:

     a. The Debtor will be authorized to use Cash Collateral for
the period from May 2, 2021 through May 31, 2021;

     b. The Secured Creditors will be granted a replacement lien
and security interest upon the Debtors' post-petition assets with
the same priority and validity as their pre-petition liens to the
extent of the Debtor’s post-petition use of the proceeds of the
prepetition collateral.

     c. To the extent the Adequate Protection Liens prove to be
insufficient, the Secured Creditors will be granted superpriority
administrative expense claims under Section 507(b) of the
Bankruptcy Code.

     d. The Debtor will provide the Secured Creditors with certain
reports and documents each week.

A copy of the motion is available for free at
https://bit.ly/2S5piSf from PacerMonitor.com.

                    About Avery Asphalt, Inc.

Avery Asphalt, Inc., is the main operating company and installs,
maintains, and improves roadways, parking lots, and other outdoor
surfaces. Avery Equipment, LLC owns the equipment used in Avery
Asphalt's business. Avery Holdings, LLC owns the real estate used
in Avery Asphalt's business. LBLA Ventures, Inc. is the holding
company for a non-operating Arizona asphalt company and 1401 S.
22nd Ave., LLC owns the real estate that was formerly used by
Regional Pavement Maintenance of Arizona, Inc. in its business.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Colo. Lead Case No. 21-10799) on
February 19, 2021. The bankruptcy was filed after a receiver was
appointed for all the Debtors in one state court case. The
receivership hampered Avery Asphalt's ability to operate
profitably. The Debtors believe this reorganization proceeding will
facilitate a better return to creditors than a receivership or
liquidation. The Debtors intend to streamline operations and sell
equipment and real estate that is no longer used by Avery Asphalt
in connection with a plan of reorganization.

In the petition signed by CEO Aaron Avery, the Debtors disclosed up
to $50,000 in assets and up to $10 million in liabilities.

David J. Warner, Esq., at WADSWORTH GARBER WARNER CONRARDY, P.C. is
the Debtor's counsel.


BAIC: U.S. Trustee Unable to Appoint Committee
----------------------------------------------
The U.S. Trustee for Region 16 on May 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of BAIC, according to court
dockets.
  
                            About BAIC

BAIC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. C.D. Calif. Case No. 21-10503) on March 24, 2021.  Steve
Awadalla, president, signed the petition.  In the petition, the
Debtor disclosed total assets of up to $50,000.  Judge Victoria S.
Kaufman oversees the case.  Michael E. Plotkin, Attorney at Law,
represents the Debtor as counsel.


BAUMANN & SONS: Unsecureds to Get At Least 30% in Liquidating Plan
------------------------------------------------------------------
Judge Robert E. Grossman has entered an order approving the
Disclosure Statement of Baumann & Sons Buses, Inc., et al.

The hearing to consider confirmation of the Plan will be held
telephonically before the Honorable Robert E. Grossman, United
States Bankruptcy Judge, United States Bankruptcy Court for the
Eastern District of New York, Alfonse M. D'Amato Federal
Courthouse, 290 Federal Plaza, Courtroom 860, Central Islip, New
York 11722, on June 30, 2021, at 10:00 a.m. (prevailing Eastern
time).

Objections, if any, to the Plan must be filed and served by no
later than June 23, 2021, at 5:00 p.m. (prevailing Eastern time).
Responsive pleadings to any objection to confirmation of the Plan
shall be filed by no later than June 28, 2021 at 10:00 a.m.
(prevailing Eastern time).

All Ballots must be properly executed and delivered to the Voting
Agent so that they are actually received by the Voting Agent by no
later than 5:00 p.m. (Eastern Time) on June 18, 2021.

                       Plan of Liquidation

Baumann & Sons Buses, Inc., et al., submitted a Disclosure
Statement for Third Amended Joint Plan of Liquidation

At this point in the Chapter 11 Cases, the Debtors have liquidated
substantially all of their assets through Bankruptcy Court-approved
sale transactions and no longer maintain active business
operations. Their Estates were substantively consolidated by Order
of the Bankruptcy Court on or about May 12, 2021 (the "Insider
Settlement and Substantive Consolidation Order"). As a result of
the impending liquidation and the consolidation of operations, the
Debtors' assets and liabilities, are recognized as substantively
consolidated for the purposes of the Plan, including, without
limitation, for the purposes of voting and distribution, with any
intercompany or duplicate claims eliminated. What this means is
that Creditors who may have filed duplicate proofs of claim against
more than one of the Debtors will only receive a single ballot to
vote on the Plan and should expect to receive a single recovery
from a common pool of the Debtors' consolidated assets.

Another important aspect of the Plan is how it seeks to implement
certain settlements and compromises between and among certain
parties in interest in these Chapter 11 Cases. These settlements
include the Insider Settlement reached between the Debtors, their
Estates, the Official Committee, and the Debtor Affiliates. As part
of that settlement and subject to the occurrence of the Effective
Date, the Debtor Affiliates have agreed to pay the Insider
Settlement Contribution which will be used to fund an initial
distribution to Holders of Allowed Claims as soon as practicable
following the Effective Date of the Plan. The Plan provides for
releases in favor of the Debtor Affiliates from potential claims or
causes of action in exchange for the Insider Settlement
Contribution and other consideration provided by the Debtor
Affiliates. The Insider Settlement was approved by the Bankruptcy
Court in the Insider Settlement and Substantive Consolidation
Order.

In addition, the Debtors seek approval of a settlement with the
Local 252 as part of the Plan which provides for, among other
things, the allowance and treatment of the Local 252 Priority
Claim.

The Plan also outlines a more simplified corporate structure for
the final liquidation phase and wind down of these Debtors, some of
which has been approved as part of the Insider Settlement and
Substantive Consolidation Order.  As of the Effective Date, all
property interests of the Debtors shall automatically be vested in
the Post-Confirmation Debtors and control over the
Post-Confirmation Debtors shall be in the Plan Administrator.  At
that time, the Equity Interests in the Debtors and all management
rights of the Principals shall terminate in favor of the Plan
Administrator. Apart from the activity that will continue by the
Plan Administrator for the Post-Confirmation Debtors and as set
forth in the Plan, the Debtors will be wound down and dissolved as
soon as practicable after the Effective Date of the Plan.  The Plan
Administrator will receive appropriate funding and will be
empowered to, among other things, review, analyze and object to
claims, or, as appropriate, continue the prosecution of those
objections already being pursued by the Debtors as of the Effective
Date, and to evaluate and potentially pursue the Causes of Action
and make Distributions to holders of Allowed Claims.  The Plan
Administrator shall be supervised by, and shall report to, the
Oversight Committee.

Class 4 (General Unsecured Claims) will each receive a pro rata
share from the remaining portion of the Plan Consummation Fund,
after satisfaction in full of senior Claims (but not including
Class 3) and until the Class 5 Participation Threshold has been
achieved. Class 4 will recover greater than 30% of their claims.
Class 4 is impaired.

Attorneys for the Debtors:

     Sean C. Southard
     Lauren C. Kiss
     KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP
     320 Old Country Road, Suite 203
     Garden City, New York 11530
     Tel: (212) 972-3000
     Fax: (212) 972-2245

A copy of the Order is available at https://bit.ly/2S8fFSN from
PacerMonitor.com.

A copy of the Disclosure Statement is available at
https://bit.ly/3bBRlj5 from PacerMonitor.com.

                  About Baumann & Sons Buses

Baumann & Sons Buses, Inc. and ACME Bus Corp., along with their
non-debtor parent and two affiliates, operated a large school bus
transportation concern with contracts with a number of school
districts in Nassau, Suffolk and Westchester Counties.  

On May 27, 2020, Nesco Bus Maintenance and several other creditors
filed involuntary petitions under Chapter 7 of the Bankruptcy Code
against Baumann & Sons and ACME Bus in the U.S. Bankruptcy Court
for the Eastern District of New York.  On July 1, 2020, the court
converted the cases to cases under Chapter 11 (Bankr. E.D.N.Y. Lead
Case No. 20-72121).

On Aug. 3, 2020, Baumann & Sons' affiliates, ABA Transportation
Holding Co. Inc., Brookset Bus Corp. and Baumann Bus Company, Inc.,
each filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code.  The cases are jointly administered with Baumann &
Sons (Bankr. E.D.N.Y. Case No. 20-72121) as the lead case.  Judge
Robert E. Grossman oversees the cases.

The Debtors tapped Klestadt Winters Jurellersouthard & Stevens, LLP
as bankruptcy counsel, Smith & Downey, PA, as special counsel,
Joseph A. Broderick, P.C. as accountant, and Boris Benic and
Associates LLP as auditor.  Omni Agent Solutions is the Debtors'
administrative agent

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on July 27, 2020.  The committee selected
SilvermanAcampora, LLP, as its bankruptcy counsel and Ryniker
Consultants, LLC as its financial advisor.

On March 29, 2021, the Debtors filed their joint Chapter 11 plan of
liquidation.


BENCHMARK ELECTRONICS: Egan-Jones Keeps BB Sr. Unsecured Ratings
----------------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Benchmark Electronics, Inc.

Headquartered in Tempe, Arizona, Benchmark Electronics, Inc.
provides contract electronics manufacturing and design services.



BEST VIEW: $4.35M Sale of Canyon County Parcels to Loves Approved
-----------------------------------------------------------------
Judge Joseph M. Meier of the U.S. Bankruptcy Court for the District
of Idaho authorized Best View Construction & Development, LLC's
sale of six parcels of property known as Best View Quads, located
in Canyon County and legally described as Lots 1 through 6, Block
1, of Best View Quads Subdivision as shown on the official plat
thereof, filed in Book 48 of Plats at page 47, records of Canyon
County, Idaho, to Annette and David Love for $4.35 million.

The Debtor held a sale of the Property on March 17, 2021.

At the Closing, the Debtor is authorized to pay from the Sale
proceeds all appropriate customary and usual Closing costs, real
and personal property taxes, and will immediately payoff existing
liens as outlined in the Sale Motion.  All remaining Sale proceeds
will be held by the Debtor in the DIP bank account pending further
order from the Court.  

The sale is free and clear of all Liens, Claims, Encumbrances and
Interests.  All Liens, Claims, Encumbrances and Interests that are
not fully paid at the Closing (if any) will attach to the proceeds
of the Sale.

Except as outlined in the Sale Motion, the Sale of the Property
will be "as is, where is" without warranty of any kind from the
Debtor or bankruptcy estate.  The Closing will occur as soon as
practicable after entry of the Order.

As authorized by Bankruptcy Rule 6004(h), the Order will be
effective and enforceable immediately upon its entry.

               About Best View Construction

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

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



BKR IP HOLDCO: Case Summary & 8 Unsecured Creditors
---------------------------------------------------
Debtor: BKR IP Holdco, LLC
        1 Kathryn Lane
        Bromall, PA 19008

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Easter District of Pennsylvania

Case No.: 21-11429

Judge: Hon. Magdeline D. Coleman

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

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bruce K. Redding, managing member.

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

https://www.pacermonitor.com/view/6DERVIA/BKR_IP_Holdco_LLC__paebke-21-11429__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/Z5JHO2Q/BKR_IP_Holdco_LLC__paebke-21-11429__0001.0.pdf?mcid=tGE4TAMA


BLACKSTONE DEVELOPERS: Seeks to Hire Marilyn D. Garner as Counsel
-----------------------------------------------------------------
Blackstone Developers, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to employ the Law Office
of Marilyn D. Garner as its legal counsel.

The firm will provide these services:

   a. advise the Debtor regarding its powers and duties in the
continued operation of its business and management of its
property;

   b. take necessary action to investigate and recover fraudulent
or preferential transfers of the Debtor's property before
commencement of its Chapter 11 proceedings and, where appropriate,
to institute appropriate proceedings for sale of property and
assist in obtaining post-petition financing;

   c. defend the Debtor in contested matters or adversary
proceedings as they are brought before the court under Chapter 11
administration;

   d. prepare a plan of reorganization and other legal papers; and

   e. provide general advice to the Debtor concerning its conduct
and responsibilities.

The Law Office of Marilyn D. Garner will be paid at these rates:

     Attorneys                $450 per hour
     Associates               $250 per hour
     Legal Assistants         $140 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

Marilyn Garner, Esq., a partner at the Law Office of Marilyn D.
Garner, disclosed in a court filing that her firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Marilyn D. Garner, Esq.
     Law Office of Marilyn D. Garner
     2001 E. Lamar Blvd., Suite 200
     Arlington, TX 76006
     Tel: (817) 505-1499
     Fax: (817) 549-7200
     Email: mgarner@marilyndgarner.net

                   About Blackstone Developers

Red Oak, Texas-based Blackstone Developers, LLC is a single asset
real estate debtor (as defined in 11 U.S.C. Section 101(51B)).

Blackstone Developers sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 21-41055) on April 30,
2021.  At the time of the filing, the Debtor disclosed total assets
of up to $50,000 and total liabilities of up to $10 million.  Judge
Mark X. Mullin oversees the case.  The Law Office of Marilyn D.
Garner is the Debtor's legal counsel.


BLADE GLOBAL: $1M Sale of All Assets to Blade Acquisition Approved
------------------------------------------------------------------
Judge M. Elaine Hammond of the U.S. Bankruptcy Code for the
District of Northern District of California issued a corrected
order authorizing Blade Global Corp.'s sale of substantially all
assets to Blade Acquisition, Inc. for (i) an amount in cash equal
to $1 million, (ii) the assumption by the Buyer of the Assumed
Liabilities pursuant to the Assignment and Assumption Agreements,
and (iii) the addition of Cure Amounts for any added Assumed
Contract or Assumed Lease.

A hearing on the Motion was held on May 3, 2021, at 10:30 a.m.
(PT).

The objections filed by Equinix, DRT and Comcast have been resolved
in the manner presented on the record and as set forth in the
Order.  Any and all other objections to the Motion that were not
withdrawn are overruled.

The Stalking Horse Agreement, including all of the terms and
conditions thereof, is approved.  The Debtor is authorized to
execute the Stalking Horse Agreement and perform the Debtor's
obligations under the Stalking Horse Agreement.

The Debtor is authorized to assume and assign the Assumed Contracts
and Assumed Leases listed in schedules 1.1(d) and 1.1(e) to the
Stalking Horse Agreement, as may be modified or amended pursuant to
the terms therein.  The cure amounts, if any, are as set forth in
the notices of potential assumption and assignment filed and served
by the Debtor on all counter-parties to such agreements.    

All liens on the Acquired Assets will attach to the net sale
proceeds in the same order of priority as existed prior to the
sale, and will be paid from the net sale proceeds at Closing in
accordance with the terms of the Order.

The stay of the Order provided in Bankruptcy Rules 6004(h) is
lifted to allow for the Closing of the sale of the Acquired Assets
to occur immediately or thereafter; and notwithstanding Bankruptcy
Rules 6004(h), the Order will be effective and enforceable
immediately upon entry and its provisions will be self-executing.
In the absence of any entity obtaining a stay, pending appeal, the
Stalking Horse Bidder and the Debtor are free to close the Sale
under the Order in accordance with its terms at any time.

A copy of the Agreement is available at
https://tinyurl.com/nzchns4y from PacerMonitor.com free of charge.

                       About Blade Global                

Blade Global Corporation, a company that provides data processing,
hosting and related services, filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Calif.
Case No. 21-50275) on March 1, 2021.  Perry Michael Fischer, sole
director, signed the petition.  At the time of filing, the Debtor
estimated $50 million to $100 million in assets and $10 million to
$50 million in liabilities.

Judge M. Elaine Hammond oversees the case.

Binder & Malter, LLP and Berliner Cohen, LLP serve as the Debtor's
bankruptcy counsel and special corporate counsel, respectively.



BLUE STAR: Incurs $478K Net Loss in First Quarter
-------------------------------------------------
Blue Star Foods Corp. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $478,104 on $2.49 million of net revenue for the three months
ended March 31, 2021, compared to a net loss of $853,647 on $4.57
million of net revenue for the three months ended March 31, 2020.

As of March 31, 2021, the Company had $6.05 million in total
assets, $6.42 million in total liabilities, and a total
stockholders' deficit of $371,261.

The Company had cash of $146,636 as of March 31, 2021, of which
$42,003 was restricted cash.  At March 31, 2021, the Company had a
working capital deficit of $2,581,653 including $1,299,712 in
stockholder loans that are subordinated to its working capital line
of credit, and the Company's primary sources of liquidity consisted
of inventory of $605,649 and accounts receivable of $718,163.

The Company has historically financed its operations through the
cash flow generated from operations, capital investment, notes
payable and a working capital line of credit.

Blue Star said, "The COVID-19 pandemic has caused significant
disruptions to the global financial markets.  The full impact of
the COVID-19 outbreak continues to evolve, is highly uncertain and
subject to change.  The Company is not able to estimate the
possible continuing effects of the COVID-19 outbreak on its
operations or financial condition for the next 12 months."

Cash provided by operating activities during the three months ended
March 31, 2021 was $462,624 as compared to cash provided by
operating activities of $1,857,853 for the three months ended March
31, 2020.  The decrease is primarily attributable to reductions in
inventory of $1,869,218, other current assets of $68,930 and
payables of $42,830 for the three months ended March 31, 2021.

Cash used for investing activities for the three months ended March
31, 2021 was $0 as compared to $13,230 used for investing
activities for the three months ended March 31, 2020. The decrease
was attributable to no purchase of fixed assets in the three months
ended March 31, 2021.

Cash utilized in financing activities for the three months ended
March 31, 2021 was $653,675 as compared to cash utilized in
financing activities of $1,998,594 for the three months ended March
31, 2020.  Reduction of the Company's revolving working capital
line of credit of $1,025,619 was partially offset by the proceeds
from the PPP loan of $371,944 for the three months ended March 31,
2021, compared to loan payment and loan costs paid on the working
capital line of credit of $1,998,594 for the three months ended
March 31, 2020.

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

https://www.sec.gov/Archives/edgar/data/1730773/000149315221011902/form10-q.htm

                       About Blue Star Foods

Blue Star Foods Corp. is a sustainable seafood company that
processes, packages and sells refrigerated pasteurized Blue Crab
meat, and other premium seafood products.  Its products are
currently sold in the United States, Mexico, Canada, the Caribbean,
the United Kingdom, France, the Middle East, Singapore and Hong
Kong. The company headquarters is in Miami, Florida (United
States), and its corporate website is:
http://www.bluestarfoods.com/

Blue Star reported a net loss of $4.44 million for the year ended
Dec. 31, 2020, a net loss of $5.02 million for the year ended Dec.
31, 2019, and a net loss of $2.28 million for the 12 months ended
Dec. 31, 2018.  As of Dec. 31, 2020, the Company had $7.82 million
in total assets, $7.84 million in total liabilities, and a total
stockholders' deficit of $19,723.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2014, issued a "going concern" qualification in its report dateed
April 15, 2021, 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.


BOY SCOUTS OF AMERICA: Scout Pro Se Says Disclosures Inadequate
---------------------------------------------------------------
An alleged creditor designed as "Scout Pro Se" filed an objection
to the adequacy of the Disclosure Statement of Boy Scouts of
America and Delaware BSA, LLC.

Creditor claims that the Court has been misled on a basic point --
real estate assets claimed to be "owned" by local Councils are
actually owned by the national organization. If the local Councils
actually owned the real estate, they could unilaterally dispose of
it upon dissolution as they thought best, subject to the usual IRS
regulations for non-profits.

Creditor further points out that a Chapter 11 Plan must include the
most valuable assets held.  As Debtors propose to restructure under
Chapter 11, they must present a full accounting of all assets,
including those real estate assets loaned to Councils.

The real estate holdings are extensive, and valuable.  According to
Creditor, they can be taken away from the Councils at Debtors' sole
whim, so Debtors can be ordered by this Court to:

  1) Concede that the "best interests of Scouting" includes paying
abuse victim damages

  2) Briefly revoke charters of all Councils

  3) Take possession of all real estate, effectively moving all
Scouting "camp activities" to Parks and other State/National
lands.

Creditor asserts that liquidating real estate will reduce
opportunities for further criminal behavior, and provide
significant equitable relief to abuse victims.  If the BSA were to
divest all real estate, Creditor this would imply that future BSA
activities would take place in view of and under the control of
actual outside authority.

                    About Boy Scouts of America

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

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

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

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

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


BOY SCOUTS OF AMERICA: They Could Have Their Own Rival Ch.11 Plan
-----------------------------------------------------------------
Peg Brickley of The Wall Street Journal reports that the lawyers
for abuse victims said they could have their own chapter 11 plan to
rival the Boy Scouts' on file within weeks.

The judge presiding over the Boy Scouts of America's bankruptcy
urged continued talks aimed at reaching a deal with victims of
sexual abuse who have spurned a settlement offer, warning the youth
group can only stay in chapter 11 so long without imperiling its
survival.

After 15 months of bankruptcy protection, the Boy Scouts haven't
rounded up any support for their $1.2 billion baseline settlement
offer, and now face a challenge from victims, who want to propose a
chapter 11 settlement of their own.

                    About Boy Scouts of America

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

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

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

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

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


BOYD GAMING: Egan-Jones Hikes Senior Unsecured Ratings to CCC-
--------------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, upgraded the foreign
currency and local currency senior unsecured ratings on debt issued
by Boyd Gaming Corporation to CCC- from CC. EJR also maintained its
'C' rating on commercial paper issued by the Company.

Headquartered in Las Vegas, Nevada, Boyd Gaming Corporation owns
and operates several gaming properties throughout the United
States.



BRAZOS ELECTRIC POWER: Court Approves Interim DIP From JPMorgan
---------------------------------------------------------------
Jeremy Hill of Bloomberg News reports that Brazos Electric Power
Cooperative won access to $150 million of a debtor-in-possession
financing package from JPMorgan Chase & Co. on an interim basis.

U.S. Bankruptcy Judge David R. Jones in a hearing Tuesday, May 18,
2021. said he'd allow Brazos to access the funds, calling the deal
"one of the better ones I've seen in a while"

The power seller resolved remaining objections to the interim draw
during an adjournment Tuesday, May 18, 2021, afternoon.  The rest
of the $35 million debt package will be up for approval at a later
date.

             About 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. Tex. 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 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.  FTI Consulting, Inc., is
the committee's financial advisor.


BRINKER INTERNATIONAL: Egan-Jones Keeps CCC Sr. Unsecured Ratings
-----------------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'CCC'
foreign currency and local currency senior unsecured ratings on
debt issued by Brinker International, Inc. EJR also maintained its
'C' rating on commercial paper issued by the Company.

Headquartered in Coppell, Texas, Brinker International, Inc. is a
restaurant operator who owns, operates, or franchises
establishments in the United States and Internationally.



BROOKS BROTHERS: Ex-Owners Sued for $100 Million by TAL Apparel
---------------------------------------------------------------
Chris Dolmetsch of Bloomberg News reports that Brooks Brothers
Group Inc.'s former owners were sued by a minority shareholder for
allegedly putting their interests above those of other investors
while pursuing a sale of the famous clothing company.

The shareholder, TAL Apparel Ltd., alleges that former chairman and
chief executive officer Claudio Del Vecchio and his son Matteo
refused to pursue certain bids for Brooks Brothers in 2019 because
those deals would have forced them to pay TAL millions of dollars.
TAL cited a "make whole" provision that would reimburse it if the
clothing company's value fell below that of their investment.

                   About Brooks Brothers Group

Brooks Brothers -- https://www.brooksbrothers.com/ -- was a
clothing retailer with over 1,400 locations in over 45 countries.

Brooks Brothers Group, Inc., and 12 of its affiliates filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-11785) on
July 8, 2020. The Debtors were estimated to have assets and
liabilities of $500 million to $1 billion.

The Hon. Christopher Sontchi presides over the cases.

Richards, Layton & Finger, P.A., and Weil, Gotshal & Manges LLP
serve as counsel to the Debtors. PJ Solomon, L.P acts as investment
banker; Ankura Consulting Group LLC as financial advisor; and Prime
Clerk LLC as claims and noticing agent.

On July 21, 2020, the Office of the United States Trustee formed an
official committee of unsecured creditors. The Committee selected
Akin Gump Strauss Hauer & Feld LLP and Troutman Pepper Hamilton
Sanders LLP as its counsel, and FTI Consulting, Inc. as its
financial advisor.

                          *     *     *

In August 2020, the Court entered an order authorizing the Debtors
to sell substantially all assets for $325 million to SPARC Group
LLC, the successful bidder.  The sale closed Aug. 31, 2020.  The
Debtors were renamed to BBGI US Inc., et al., following the sale.


BSK BROADWAY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: BSK Broadway, LLC
        2295 Broadway
        Suite D
        Oakland, CA 94612

Case No.: 21-40687

Business Description: BSK Broadway, LLC

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Northern District of California

Judge: Hon. Charles Novack

Debtor's Counsel: Simon Aron, Esq.
                  WOLF, RIFKIN, SHAPIRO, SCHULMAN & RABKIN, LLP
                  11400 West Olympic Blvd., 9th Floor
                  Los Angeles, CA 90064
                  Tel: (310) 478-4100
                  Email: saron@wrslawyers.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Tanya Holland, manager, Provence Asset
Holding Company, LLC, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/KLTU5UI/BSK_Broadway_LLC__canbke-21-40687__0001.0.pdf?mcid=tGE4TAMA


BSK HOSPITALITY: Brown Sugar Kitchen Files for Chapter 11
---------------------------------------------------------
Alex Barreira of San Francisco Business Times reports that the
hospitality group, BSK Hospitality Group LLC, behind chef Tanya
Holland's Michelin-lauded Brown Sugar Kitchen, a national
destination for modern soul food in Oakland, has filed for Chapter
11 bankruptcy protection.

The operating realities of the pandemic erased already thin margins
as downtown Oakland offices emptied out, Holland said, creating a
situation where "there was just no balance on the balance sheet
essentially, so much debt" in the form of back rent, vendors and
investors.

The bankruptcy petition will not impact daily service at her
flagship restaurant at 2295 Broadway Ave., currently open for
outdoor dining, takeout and delivery, Holland told me in an
exclusive interview.

The filing for BSK Hospitality Group LLC, made Wednesday, May 19,
2021, in the U.S. Northern District bankruptcy court, listed assets
of under $50,000 and six creditors with claims totaling $938,314.

The largest of the debts registered were to two San Francisco
investment partners for the group, Nimble Ventures LLC and Salt
Partners LLC, for just over $200,000 each.

Salt Partners, one half of the 2018 joint venture behind Brown
Sugar Kitchen Hospitality Group, helped Holland establish a Brown
Sugar Kitchen location in the Ferry Building that closed early last
year and has backed other restaurants including Saison and ice
cream brand Humphry Slocombe. She told me she particularly
appreciated their support through the bankruptcy filing process.

The other backer, capital group Nimble Ventures, was previously
undisclosed. Holland told me in March the restaurant as of then
hadn't exhausted its federal relief funds and could potentially
raise more capital through its investment partners.

Holland said she considered filing for bankruptcy for other
ventures prior to the pandemic, but hadn't fully understood how it
worked.

"I only thought of negative connotations of it," Holland said. "Now
I have great investor support, and seasoned advisers telling me,
this is a common, very positive tool. It's especially for this kind
of situation where there was just no balance on the balance sheet
essentially, so much debt."

A Chapter 11 reorganization allows the debtor to remain in business
while taking actions to stabilize its finances, such as cutting
expenses, selling off assets or renegotiating with creditors -- all
under the supervision of a court-appointed trustee.

With the filing, Holland said she has less immediate pressure
regarding the debt and can "operate from a fresh point of view."

"It's not slowing down the business at all," Holland added. "It's
actually giving me a little security so we’re able to
stabilize."

Brown Sugar Kitchen recently hired more staff and has reopened
outdoor service after spending much of the last year as delivery
and takeout only.  It's now open Wednesdays and Thursdays from 12
p.m. to 8 p.m., Fridays 12 p.m. to 9 p.m. and Sunday brunch service
9 a.m. to 3 p.m.

Holland said the filing will also not impact the upcoming debut of
her plant-forward cafe concept, Town Fare, at the Oakland Museum of
California, which will have a soft opening June 18 when the museum
— as officials announced Wednesday — opens to the public.

Holland is a nationally recognizable figure in the food world and
has won multiple Michelin Bib Gourmand awards for her inventive and
accessible take on soul food.  She's appeared frequently on
television as a competitor on Bravo's "Top Chef" and as a host on
Food Network's "Melting Pot," and her work includes a podcast
series with celebrity guests, cookbooks, and her own show on Oprah
Winfrey’s OWN network that launched last fall.

Brown Sugar Kitchen opened in West Oakland in 2008 and moved it to
downtown Oakland in 2019. Holland established a second Brown Sugar
Kitchen in San Francisco's Ferry Building in 2019 but it closed in
January last 2020 after less than 12 months open. Another Oakland
concept, B-Side BBQ, was open from 2011 to 2015.

"We were very much still in startup mode at this new location, and
we had just closed the Ferry Building because that wasn’t
viable," Holland said, describing the circumstances of the
bankruptcy. "Covid did not help."

Despite its wide recognition and celebrated stature in the Bay Area
food scene, Brown Sugar Kitchen has never had an easy time with
traditional sources of fundraising.

"For most of my career, I basically have lived as a starving
artist, who puts in a lot of work but isn’t compensated anywhere
close to the amount of hours put into the work," Holland told my
colleague Mark Calvey in December as part of our series on small
businesses adapting to the pandemic. "Because of systemic racism,
I'm so many steps behind. If I had the access to advisers,
financing and other opportunities that I had requested and sought
out and worked for a decade ago, I'd be in such a better position
today, but that’s not my story."

"I'm just looking forward to finally getting to the place where I
have all the resources I need to do what I want to do in this
industry," Holland said this week. "I've said before, the nexus of
Covid and the (Black Lives Matter) movement have given me an
opportunity to have a bigger platform.  And now people can see if
my business can survive this, the pandemic and the Chapter 11
transition, then maybe theirs can too."

                      About BSK Hospitality

BSK Hospitality is the hospitality group behind the Brown Sugar
Kitchen owned by Tanya Holland.  It sought Chapter 11 protection
(Bankr. N.D. Cal. Case No. 21-40686) on May 19, 2021.  In the
petition signed by owner Tanya Holland, it disclosed assets of
under $50,000 and liabilities of $938,314.  The case is handled by
Honorable Judge Charles Novack.  Wolf, Rifkin, Shapiro, Schulman,
Rabkin, led by Simon Aron, is serving as the Debtor's counsel.


BUY MOORE: Scott Chernich Named Chapter 11 Trustee
--------------------------------------------------
Scott Chernich has been appointed Chapter 11 trustee for Buy Moore
LLC on May 16, 2021 by Andrew R. Vara, U.S. Trustee for Regions 3
and 9.  He may be reached at:

     Scott Chernich
     313 S. Washington Square
     Lansing, MI 48933
     Telephone: 517-371-8133
     Email: schernich@fosterswift.com

A copy of the appointment is available for free at
https://bit.ly/3yqVM9V from PacerMonitor.com.

                        About Buy Moore LLC

Buy Moore LLC, d/b/a Buy Moore Toys & Comics, buys and sells toys
and comics in Rockford, Michigan.  Buy Moore LLC filed a petition
under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr.
W.D. Mich. Case No. 21-01230) on May 10, 2021.

As of the Petition Date, the Debtor listed up to $50,000 in both
assets and liabilities.  The petition was signed by Jeff Moore,
member.  Oppenhuizen Law Firm, PLC is the Debtor's counsel.  

The firm can be reached through:

     James R. Oppenhuizen, Esq.
     Oppenhuizen Law Firm, PLC
     25 Division Avenue S., Suite 525
     Grand Rapids, MI 49503
     Telephone: 616-730-1861
     Email:  joppenhuizen@oppenhuizenlaw.com




CAPSTEAD MORTGAGE: Egan-Jones Keeps B Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by Capstead Mortgage Corporation. EJR also maintained
its 'C' rating on commercial paper issued by the Company.

Headquartered in Dallas, Texas, Capstead Mortgage Corporation is a
real estate investment trust and earns income from investing in
real-estate related assets on a leveraged basis.



CDRH PARENT: Moody's Deems Restructuring a Distressed Exchange
--------------------------------------------------------------
Moody's Investors Service appended an "/LD" designation to CDRH
Parent, Inc.'s (d/b/a as "Healogics") Caa3-PD Probability of
Default Rating. This reflects a limited default resulting from its
recently completed capital restructuring. The "/LD" designation
will be removed after three business days. Healogics' ratings will
be withdrawn including the Caa3 Corporate Family Rating, the
Caa3-PD/LD Probability of Default Rating, the Caa2 first lien
senior secured bank credit facility rating, and the Ca second-lien
term loan rating.

Moody's anticipated withdrawal of Healogics' CFR is due to the
capital restructuring which has resulted in the rated debt
obligations no longer outstanding.

RATINGS RATIONALE

Healogics' announced that it had finalized the changes to the
company's organizational structure and restructuring of its debt
obligations, effective May 14, 2021. The capital restructuring,
under Moody's definitions, is considered a distressed exchange and
an effective default on the company's rated debt instruments as it
represents a diminished financial obligation relative to the
previous agreements.

CDRH Parent, Inc. is a holding company whose principal operating
subsidiary is Healogics, Inc. Based in Jacksonville, FL., Healogics
partners with hospitals to establish, staff and run specialized
wound care centers that treat patients with chronic, non-healing
wounds. CDRH is owned by private equity sponsor Clayton, Dubilier
and Rice. As of September 30, 2020, Healogics operated
approximately 620 wound care centers and generated $375 million in
revenue.


CHARTER NEXT: Moody's Assigns First Time 'B3' Corp Family Rating
----------------------------------------------------------------
Moody's Investors Service assigned a first time B3 Corporate Family
Rating and B3-PD Probability of Default Rating to Charter Next
Generation, Inc. (NEW) ("CNG") due to the acquisition of the
company by KKR & Co. ("KKR") and a new fund of Leonard Green &
Partners, L.P. ("LGP") as equal co-owners of the business with a
wholly owned subsidiary of the Abu Dhabi Investment Authority
("ADIA") as a minority owner. Moody's also affirmed the B2 ratings
on Charter Next Generation, Inc.'s existing senior secured 1st lien
term loan due 2027 (including the proposed $240 million incremental
add-on) and senior secured 1st lien revolving credit facility due
2025, which will remain outstanding under the new ownership. The
unsecured PIK toggle notes due 2028 will also remain outstanding
under the new ownership, but are not rated by Moody's. The outlook
is stable. The B3 CFR on Charter Next Generation, Inc. (OLD) is
unchanged and will be withdrawn at the close of the transaction.

KKR, LGP and ADIA are acquiring CNG for an undisclosed amount from
LGP and minority owner Oak Hill Partners (Oak Hill). Certain
members of management are also selling their shares. CNG's capital
structure will consist of a $100 million revolving credit facility
expiring in 2025, a $1.84 billion senior secured term loan due 2027
and a $500 million unsecured PIK toggle note due 2028. Proceeds
from the proposed $240 million term loan add-on, the rollover of
the existing debt and an undisclosed equity contribution from KKR,
LGP and ADIA will be used to acquire CNG and pay fees and
expenses.

"Projected strong sales growth and CNG's strong operating margins
will support continued EBTIDA growth and good free cash flow which
will drive a significant improvement in credit metrics," according
to Ed Schmidt, CFA, a Moody's VP-Senior Analyst.

The B3 CFR reflects Moody's expectation that credit metrics will
benefit from continued strong growth in sales, completed cost
cutting initiatives and the use of a significant portion of free
cash flow for debt reduction over the next 18 months. Moody's
expects debt to LTM EBITDA to decrease to 6.5x by the end of 2022
from 8.3x at January 3, 2021 pro forma for the proposed
transaction. Free cash flow to debt is expected to remain good at
about 4.0% by the end of 2023. Additionally, CNG is expected to
have full availability under its $100 million revolver, excluding
any normal working capital needs, and significant cushion under the
financial covenant at the close of the transaction.

The stable outlook reflects Moody's expectation of a significant
improvement in credit metrics from improved operating results and
the dedication of significant portion of free cash flow to debt
reduction.

Assignments:

Issuer: Charter Next Generation, Inc. (NEW)

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

Affirmations:

Issuer: Charter Next Generation, Inc.

Senior Secured 1st Lien Revolving Credit Facility, Affirmed B2
(LGD3)

Senior Secured 1st Lien Term Loan, Affirmed B2 (LGD3)

Outlook Actions:

Issuer: Charter Next Generation, Inc.

Outlook, Remains Stable

Issuer: Charter Next Generation, Inc. (NEW)

Outlook, Assigned Stable

RATINGS RATIONALE

Weaknesses in CNG's credit profile include high leverage, the
company's customer concentration of sales and a lack of long-term
contracts with customers (lowers switching costs). The company
operates in the fragmented and competitive packaging industry which
makes it necessary to make significant investments in its asset
base periodically to maintain its high margins. CNG generates 14%
of revenue from cyclical end markets (industrial). The company has
lengthy lags on its raw material cost passthroughs with some
customers leaving it exposed to changes in volumes before costs can
be passed through. CNG has a high customer concentration of sales
with the top ten customers generating 32% of revenue.

Strengths in the company's credit profile include high exposure to
relatively stable end markets including food, consumer and
healthcare. In addition, the company has exposure to the faster
growing e-commerce end market. CNG also has a significant
percentage of higher margin, technically complex products and
continues to invest in capacity to produce more. The company has
many blue-chip customers which adds stability to revenue. CNG is
expected to continue to generate good free cash flow and maintain
good liquidity.

Governance risks are heightened given CNG's private equity
ownership. This carries the risk of an aggressive financial policy,
which could continue to include debt funded acquisitions or
additional dividends. The proposed LBO follows a debt financed
dividend in November 2020. None of the company's board members are
independent.

CNG's good liquidity position is supported by Moody's expectation
of good free cash flow and full availability under the $100 million
revolver which expires in 2025. The next debt maturity is the
revolver in 2025.

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

The rating could be downgraded if CNG fails to improve credit
metrics or there is any deterioration in liquidity or the
competitive environment. Additionally, acquisitions that alter the
company's business and operating profile, significant debt financed
acquisitions or shareholder distributions may also prompt a
downgrade. Specifically, the ratings could be downgraded if:

-- Adjusted debt to EBITDA is above 6.5x

-- EBITDA to interest expense is below 2.5x

-- Free cash flow to debt is below 1.0%

The rating could be upgraded if CNG sustainably improves credit
metrics within the context of stability in the competitive
environment and the maintenance of good liquidity. The company
would also need to adequately maintain its asset base to support
its high margins and adopt more conservative financial policies.
Specifically, the ratings could be upgraded if:

-- Debt to EBITDA is below 5.75x

-- EBITDA to interest expense is over 3.5x

-- Free cash flow to debt is over 4.0%

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

Charter Next Generation, Inc. headquartered in Milton, Wisconsin,
is a producer of specialty polyethylene films primarily for food
and consumer products, industrial and medical applications. The
primary raw material used is various polyethylene resins. Revenue
for the 12 months ended January 3, 2021 was $988 million.
Approximately 94.0% of revenue is generated in the U.S., 4.0% in
Canada and the remainder in Europe and Asia. CNG is majority-owned
by KKR and LGP, with ADIA holding a minority stake in the company.


CHRISTINE SKANDIS: Trustee Selling Claims to DePerno Law for $5K
----------------------------------------------------------------
Jeff A. Moyer, the Chapter 7 Trustee for the estate of Christine
Skandis, asks the U.S. Bankruptcy Court for the Western District of
Michigan to authorize him to sell any and all pre-petition claims,
causes of action, known or unknown, actual, or imagined, asserted
or inferred, the Debtor holds against Matthew DePerno and/or
DePerno Law Office PLLC to DePerno Law Office PLLC for $5,000,
subject to overbid.

The Debtor disclosed possible claims against attorney Matthew
DePerno, which she valued at $1 on Schedules A/B and C, and which
her claim of exemption in those claims under Section 522(d)(5) was
denied by the Court's Order Granting Trustee's Objection to Claimed
Exemptions.

The Purchaser has offered to purchase the Claim for $5,000.  Upon
information and belief, DePerno Law has no connection to the
Trustee or his counsel, the Bankruptcy Judge who might approve such
proposed sale, nor any person affiliated with the Office of the
United States Trustee.

The sale of the purported asset constitutes no assertion,
admission, inference, or concession that the Claim asserted by the
Debtor have any merit whatsoever but is a settlement with the
estate to obtain procedural finality.

DePerno Law holds a valid, properly secured interest in certain
assets of the Debtor, pursuant to a Note, Security Agreement and
Mortgage dated June 26, 2019.  If DePerno Law is the successful
purchaser, the amount of its offer will be paid to the estate
directly out of the net proceeds from those items serving as its
collateral to be sold at future auction by Repocast.com and/or
Miedema Auctioneering.  If for any reason the net proceeds from the
sale of the collateral are insufficient to satisfy the purchase
price, the Purchaser will pay to the Trustee any remaining balance.


Upon information and belief, there are no known liens, claims or
encumbrances against the Claim.  Any claim or interest of the
Debtor in the Claim has been extinguished by the Court's Feb. 5,
2021 Order Granting Trustee's Objection to Claimed Exemptions.

The sale will be conducted pursuant to 11 U.S.C. Section 363(b) and
(f) on the basis set forth, with all liens, claims and other
interests in and against the Claim, if any, attaching to the
proceeds of the sale.  All expenses of sale, including
administrative and all legal expenses, relating to the sale of the
Claim will be charged against the sale proceeds.

The Claim will be sold "as is, where is," without representation or
warranty, express or implied, of any kind, nature, or description,
including, without limitation, any warranty or title or of
merchantability, usability, or of fitness for any particular
purpose.   

The Trustee believes that approval of the sale of the Claim as
outlined is reasonable, is in the best interests of the estate and
that it should be approved.   

The Trustee will solicit and accept additional bids on the Claim.
Any other interested potential purchasers provide the Trustee with
a cash deposit of $2,500 at least seven days prior to the date of
the hearing on the Motion.  Any additional bids must be cash bids,
on these same terms, with the first successive bid in the amount of
$6,000 and bids to be in increments of at least $500 thereafter, to
be paid to the Trustee and estate in cash or negotiable funds
within 14 days of entry of an order approving the Motion.  No other
offer on any other terms will be considered.  Any bidder will be
required to participate at the hearing on the Motion to submit any

bid.  The Trustee may accept a backup bid.  Any objections to the
Motion and sale must be made no later than the date of the seven
days prior to the hearing on the Motion.

The bankruptcy case is In re: Christine Skandis, Case No. GG
19-05319 (Bankr. W.D. Mich.).  Christine Skandis filed a
voluntary petition for relief under Chapter 13 on Dec. 26, 2019.  
The case was subsequently converted to Chapter 7 on May 21, 2020.
Jeff A. Moyer is the Trustee in the Chapter 7 case.  



CHS/COMMUNITY HEALTH: Moody's Raises CFR to B3, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service upgraded the ratings of CHS/Community
Health Systems, Inc.'s, including the Corporate Family Rating to B3
from Caa2 and the Probability of Default Rating to B3-PD from
Caa2-PD. Moody's also upgraded Community's senior secured notes to
B2 from Caa1, junior priority secured notes to Caa2 from Caa3, and
senior unsecured notes to Caa2 from Ca. Lastly, the rating agency
also upgraded Community's Speculative Grade Liquidity Rating to
SGL-2 from SGL-3. The outlook remains stable.

The aforementioned ratings upgrades collectively reflect
Community's improved operating performance, partly owed to the
completion of a multi-year divestiture program that allowed the
company to shed underperforming hospitals. The upgrades also
reflect significant interest expense savings from recent
refinancing actions that will help augment cash flow and liquidity.
Further, these refinancing actions have eliminated the majority of
Community's refinancing risk over the next few years. Moody's views
Community's refinancing efforts as having also significantly
lowered the likelihood of a distressed exchange over the rating
horizon.

CHS/Community Health Systems, Inc.

Ratings upgraded:

Corporate Family Rating to B3 from Caa2

Probability of Default Rating to B3-PD from Caa2-PD

Senior secured notes to B2 (LGD3) from Caa1 (LGD3)

Junior priority secured notes to Caa2 (LGD5) from Caa3 (LGD5)

Senior unsecured notes to Caa2 (LGD6) from Ca (LGD6)

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

The outlook is stable.

RATINGS RATIONALE

Community's B3 Corporate Family Rating reflects Moody's expectation
that the company will operate with high financial leverage over the
next 12-18 months. Adjusted debt to EBITDA was approximately 6.2
times as of March 31, 2021. The rating is also constrained by
Moody's expectation for negative free cash flow over the next 12-18
months because of Community's still high interest costs, the
significant capital requirements of the business, and the need to
begin addressing the accelerated Medicare payments over the April
2021-September 2022 timeframe. In addition, the rating also
considers industry-wide operating headwinds which will limit
operational improvement despite Community's turnaround initiatives.
The rating is supported by Community's large scale, geographic
diversity and the successful execution of its divestiture program.
Despite the negative effects of the COVID-19 pandemic on volumes,
Community's profit margins have strengthened thanks to elevated
acuity levels and operating initiatives. Finally, Community's
liquidity has been significantly helped by substantial government
aid to hospitals.

The stable outlook reflects Moody's view that Community will
operate with good scale, strong geographic diversity, and high
financial leverage during the next 12-18 months.

From a governance perspective, Community has historically operated
with aggressive financial policies (e.g., high leverage, distressed
exchanges in the past, etc.). As a for-profit hospital operator,
Community also faces high social risk. The affordability of
hospitals and the practice of balance billing has garnered
substantial social and political attention. Hospitals are now
required to publicly provide pricing for several services, although
compliance and practice is inconsistent across the industry.
Additionally, hospitals rely on Medicare and Medicaid for a
substantial portion of reimbursement. Any changes to reimbursement
to Medicare or Medicaid directly impacts hospital revenue and
profitability. Further, as Community is focused on non-urban
communities, slow population growth tempers the company's capacity
to grow admissions.

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

Moody's could downgrade the ratings if liquidity erodes or if
Community's earnings weaken such that the debt burden becomes
unsustainable.

Moody's could upgrade the ratings if operational initiatives result
in improved volume growth and margin expansion. Community would
also need to improve its free cash flow and liquidity and reduce
financial leverage. Specifically, sustaining debt to EBITDA around
6.0 times while consistently generating positive free cash flow
could support a ratings upgrade.

CHS/Community Health Systems, Inc., headquartered in Franklin,
Tennessee, is an operator of general acute care hospitals in
non-urban and mid-sized markets throughout the US. Revenues in the
last twelve months ended March 31, 2021 were approximately $12
billion.

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


CIT GROUP: Egan-Jones Keeps BB+ Senior Unsecured Ratings
--------------------------------------------------------
Egan-Jones Ratings Company, on May 6, 2021, maintained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by CIT Group Inc.

Headquartered in New York, New York, CIT Group Inc. operates as a
holding company.



CLEAR CHANNEL: Moody's Gives Caa2 Rating on New Unsecured Note
--------------------------------------------------------------
Moody's Investors Service assigned a Caa2 rating to Clear Channel
Outdoor Holdings, Inc's proposed senior unsecured note. Clear
Channel's B3 Corporate Family Rating, B1 rating on the existing
senior secured credit facility and senior secured notes, and Caa2
rating on the existing senior unsecured notes are unchanged. The
outlook remains negative.

The net proceeds of the senior unsecured note due 2029 will be used
to repay $961.5 million of the existing senior unsecured notes
issued at subsidiary, Clear Channel Worldwide Holdings, Inc. (CCW).
The transaction increases outstanding debt slightly, but extends a
portion of its debt maturity schedule and modestly reduces interest
expense. The existing rating of the senior unsecured notes issued
by CCW will be withdrawn after repayment.

Assignments:

Issuer: Clear Channel Outdoor Holdings, Inc.

Senior Unsecured Regular Bond/Debenture (Local Currency), Assigned
Caa2 (LGD5)

RATINGS RATIONALE

Clear Channel's B3 CFR reflects the impact of the coronavirus
pandemic on the global economy and outdoor advertising spending
which has led to modestly negative EBITDA as of LTM Q1 2021
(excluding Moody's standard lease adjustment), higher debt levels,
and negative free cash flow. Moody's expects leverage will begin to
improve in Q2 2021 as the pandemic abates and health restrictions
ease. While Clear Channel has diversified operations primarily in
the U.S. and Europe, there is significant exposure to larger
markets which have been more adversely impacted by the coronavirus
and elevated declines in operating performance. The European
business has been more severely impacted due to the greater share
of street furniture and transit which have lower margins and
significant exposure to larger cities. The outdoor advertising
industry also remains vulnerable to reduced consumer ad spending,
with contract terms generally shorter than in prior periods. As
result, the outdoor industry has been affected more rapidly than in
prior recessions, although Moody's expects performance should
improve quicker than in previous recoveries due to the lower
commitment level and ease of initiating new outdoor campaigns.

Clear Channel benefits from its market position as one of the
largest outdoor advertising companies in the world with diversified
international operations. The ability to convert traditional static
billboards to digital provides growth opportunities which Moody's
expects will lead to higher revenue and EBITDA with appeal to a
broader range of advertisers after the pandemic subsides. Outdoor
advertising is not likely to suffer from disintermediation as other
traditional media outlets have and will benefit from restrictions
of the supply of additional billboards (particularly in the US),
which helps support advertising rates and very high asset
valuations.

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
outdoor advertising from the current weak US economic activity and
a gradual recovery for the coming months. Although an economic
recovery is underway, it is tenuous and its continuation will be
closely tied to containment of the virus. As a result, the degree
of uncertainty around Moody's forecasts is unusually high. Moody's
regards the coronavirus outbreak as a social risk under Moody's ESG
framework, given the substantial implications for public health and
safety.

A governance impact that Moody's considers in Clear Channel's
credit profile is the change in financial policy. Prior to the
separation with iHeartCommunications, Inc. (iHeart) in Q2 2019,
Clear Channel paid material dividends to its prior parent company
that led to reduced free cash flow and high leverage levels.
Moody's expects that Clear Channel will pursue a more conservative
policy as the pandemic abates, but will remain focused on
preserving liquidity in the near term.

The Speculative Grade Liquidity (SGL) rating of SGL-3 reflects
Moody's expectation that Clear Channel will maintain adequate
liquidity to manage through the remainder of the pandemic. Cash on
the balance sheet was $642 million, but the $175 million revolver
due 2024 had minimal availability ($130 million drawn and $43
million of L/Cs outstanding) at the end of Q1 2021. The $125.0
million receivables-based credit facility had $60.6 million of
letters of credit outstanding which had a borrowing base less than
its borrowing limit which reduced excess availability on the
facility to $24.8 million as of Q1 2021. Clear Channel has been
focused on preserving liquidity by reducing capex and expenses in
addition to issuing $375 million senior secured notes in August
2020 through indirect wholly-owned subsidiary, Clear Channel
International B.V. (CCIBV). Liquidity also benefited from the sale
of its position in Clear Media for $216 million in net proceeds in
Q2 2020.

Free cash flow (FCF) was slightly negative in prior years and
negative -$266 million as of LTM Q1 2021. Moody's expects FCF will
continue to be negative for 2021 despite reductions in capex to
$102 million as of LTM Q1 2021. Capex is expected to increase to
the $155 to $165 million range in 2021, but may grow if operating
conditions continue to improve during the year. Cash interest
expense is expected to be approximately $360 million in 2021. FCF
will likely improve in Q2 2021 but still remain negative in 2021.
Additional sales of non-core assets are possible going forward,
especially outside of North America, which could provide Clear
Channel with an additional source of liquidity.

The term loan is covenant lite and the revolver is subject to a
first lien net leverage ratio of 7.6x if the balance of the
revolver is greater than $0 and undrawn letters of credit exceed
$10 million. If the total leverage ratio is equal to or less than
6.5x, the revolver will only be subject to the first lien net
leverage ratio when greater than 35% is drawn. Clear Channel
amended the Senior Secured Credit Agreement in May 2021 to suspend
the springing financial covenant of the Revolving Credit Facility
through the end of 2021. During the suspension period, Clear
Channel is subject to a minimum liquidity test of $150 million.
Moody's projects Clear Channel will remain in compliance with the
minimum liquidity test over the next twelve months.

The negative outlook reflects Moody's expectation that results will
improve beginning in Q2 2021 as trough quarters from 2020 begin to
roll off, but leverage levels will remain at very high levels over
the next several years. Profitability at the European division that
has a higher percentage of lower margin street furniture and
transit revenue located in large markets, has been especially hard
hit, but performance will improve as health restrictions condition
to ease. Moody's expects Clear Channel will have adequate liquidity
to manage through the remainder of the pandemic, although the
company will be reliant on its cash balance for liquidity as FCF is
projected to remain negative in 2021 and break even to modestly
negative in 2022. Moody's expects leverage levels will improve to
the 11x range by the end of 2022 as advertising spend recovers and
the impact of the pandemic subsides.

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

A ratings upgrade is not expected in the near term for Clear
Channel given the very high leverage levels. However, an upgrade
could occur if leverage decreased below 7x with a positive free
cash flow to debt ratio in the mid-single digits and an EBITDA
minus capex to interest coverage ratio of over 1.5x. An adequate
liquidity profile with a sufficient cushion of compliance with
financial covenants would also be required.

The ratings could be downgraded if leverage exceeds 10x for an
extended period of time or if the liquidity position deteriorated
such that there was an increased possibility of default or a
distressed exchange. An EBITDA minus capex to interest coverage
ratio sustained below 1x or inability to obtain an amendment on its
financial covenant applicable to its revolver if needed in the
future would also lead to a downgrade.

Clear Channel Outdoor Holdings, Inc. (CCO), headquartered in San
Antonio, Texas, is a leading global outdoor advertising company
focused in North America and Europe that generated revenue of about
$1.7 billion as of LTM Q1 2021. iHeartCommunications, Inc. (iHeart)
previously owned 89% of CCO and former iHeart debtholders obtained
a substantial portion of CCO's equity following iHeart's exit from
bankruptcy in Q2 2019.

The principal methodology used in this rating was Media Industry
published in June 2017.


CLUB COMANCHE: Case Summary & 15 Unsecured Creditors
----------------------------------------------------
Debtor: Club Comanche, Inc.
        1 Strand Street
        Christiansted, U.S. V.I. 00820

Case No.: 21-10001

Business Description: Club Comanche, Inc. operates in the
                      traveler accommodation industry.

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       District of Virgin Islands

Judge: Hon. Mary F. Walrath

Debtor's Counsel: Shari N. D'Andrade, Esq.
                  KELLERHALS FERGUSON KROBLIN PLLC
                  Royal Palms Professional Building
                  9053 Estate Thomas, Suite 101
                  St. Thomas U.S.V.I. 00802
                  Tel: (340) 779-2564
                  Email: sdandrade@kellfer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jack Pickel, president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 15 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/66UK37Q/Club_Comanche_Inc__vibke-21-10001__0001.0.pdf?mcid=tGE4TAMA


CONDUENT BUSINESS: Moody's Rates $1.3BB Secured Loans 'B1'
----------------------------------------------------------
Moody's Investors Service assigned B1 ratings to the proposed
senior secured credit facility issued by Conduent Business
Services, LLC, consisting of a $750 million term loan and a $550
million revolver (for which Affiliated Computer Services Intl. BV
("ACS Intl.") is also a borrower). As part of the rating action,
Moody's also affirmed Conduent Business' B1 corporate family rating
and the B1-PD probability of default rating while concurrently
revising the outlook to stable from negative. The company's
speculative grade liquidity rating was upgraded to SGL-1 from
SGL-2.

The rating action reflects the pro forma impact of Conduent
Business' planned repayment of its existing debt with proceeds from
the proposed financing as well as Moody's expectation that Conduent
Business will issue an additional $750 million of secured debt to
complete the funding of this transaction in the near term. The
outlook revision to stable also relates to the mitigation of the
company's refinancing risk upon completion of the transaction as
well as Moody's expectation of a degree of stabilization of
Conduent Business' operating trends in 2021.

Affirmations:

Issuer: Conduent Business Services, LLC

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Upgrades:

Issuer: Conduent Business Services, LLC

Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2

Assignments:

Issuer: Conduent Business Services, LLC

Gtd. Senior Secured Revolving Credit Facility, Assigned B1 (LGD3)

Gtd. Senior Secured Term Loan, Assigned B1 (LGD3)

Outlook Actions:

Issuer: Conduent Business Services, LLC

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

Conduent Business' B1 CFR is constrained by its levered capital
structure with Debt/EBITDA (Moody's adjusted) of nearly 3.5x.
Additionally, competitive pressures from larger rivals, competitors
in lower cost regions, and Conduent Business' susceptibility to
weakening pricing trends which continue to weigh on revenue growth
prospects and overall business performance, impact credit quality.
Conduent Business' somewhat concentrated stock ownership and board
representation by investment vehicles controlled by Carl Icahn
presents meaningful corporate governance concerns, particularly
with respect to potential equity repurchases that would negatively
impact credit quality. Conduent Business' credit profile is
supported by the company's scale and solid market position as a
provider of business process services to governments as well as
clients operating in the healthcare industry and other private
sector markets. Additionally, Conduent Business' highly recurring
revenue base, longstanding customer relationships, and high client
retention rates provide strong top-line visibility that buttress
the company's credit fundamentals.

The B1 ratings for Conduent Business' secured debt reflect the
borrower's B1-PD PDR and a loss given default ("LGD") assessment of
LGD3. The secured debt ratings are consistent with the CFR as
secured debt will account for the preponderance of Conduent
Business' debt structure following the completion of the proposed
refinancing.

Conduent Business' liquidity is presently very good, as indicated
by the SGL-1 rating. Liquidity is supported by pro forma
unrestricted cash and equivalents on the company's balance sheet
that are expected to approximate $360 million following the
completion of the proposed refinancing transaction. Liquidity is
further supported by pro forma aggregate borrowing capacity of
approximately $550 million under the company's proposed revolver.

As proposed, Conduent Business' term loan will not be subject to a
financial maintenance covenant, but the revolver will be subject to
a limitation based on a maximum consolidated first lien net
leverage ratio of 3.5x. Based on current operating performance
expectations, Moody's anticipates that the company will remain well
in compliance with this covenant over the next 12-18 months.

As proposed, the new credit facility is expected to provide
covenant flexibility that could adversely affect creditors,
including (i) incremental debt capacity not to exceed the greater
of $500 million and the corresponding multiple of LTM EBITDA, plus
additional amounts such that the pro forma Consolidated First Lien
Net Leverage Ratio does not exceed 3.25x, (ii) incremental amounts
up to the greater of $500 million and the corresponding multiple of
LTM EBITDA may be incurred with an earlier maturity date than the
initial term loans, (iii) collateral leakage permitted through the
transfer of assets to unrestricted subsidiaries, subject to
covenant and carve-out capacity; there are no additional blocker
protections (iv) dividends or transfers resulting in partial
ownership of subsidiary guarantors could jeopardize guarantees,
with no explicit protective provisions limiting such guarantee
releases. , and (v) there are no express protective provisions
prohibiting an up-tiering transaction.

The stable outlook reflects Moody's expectation that Conduent
Business will experience a modest 2% contraction in its revenues
and a slightly more pronounced 4% drop in adjusted EBITDA in 2021.
Moody's projections for this softness relate largely to declining
year-over year anticipated performance in the company's government
business which benefited from incremental, but likely
non-repeatable, revenues related to the coronavirus pandemic in the
prior year. Debt leverage (Moody's adjusted) throughout this period
is expected to hover around the 3.5x level.

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

Albeit unlikely in the near-term, the ratings could be upgraded if
Conduent Business realizes organic sales growth, demonstrates
meaningful improvements in profitability and free cash flow
generation, and adheres to conservative financial policies such
that adjusted debt/EBITDA is sustained below 2.5x and free cash
flow/debt approaches 10%.

The ratings could be downgraded if Conduent Business' sales
continue to decline, efforts to drive profitability stall, the
company incurs sustained free cash flow deficits resulting in a
material increase in debt leverage or if the company adopts
aggressive financial policies.

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

Conduent, Inc. ("Conduent"), the parent of Conduent Business, is a
provider of business process services to clients operating in the
healthcare industry and other private sector markets as well as
domestic and foreign governments. Moody's forecasts that the
company will generate sales of nearly $4.1 billion in 2021.


CORPORATE RESOURCE: Trustee Taps Plotzker & Agarwal as Accountant
-----------------------------------------------------------------
James Feltman, the Chapter 11 trustee for Corporate Resource
Services, Inc. and its affiliates, seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Plotzker & Agarwal, CPAS, LLC as accountant.

The firm will provide these services:

   a. assist in the preparation of federal income tax returns for
the 2015 post-petition period;

   b. assist in the preparation of federal income tax returns for
the years 2016 through 2021; and

   c. respond to inquiries from taxing authorities as the trustee
winds down the Debtor's Chapter 11 case.

Plotzker & Agarwal will be paid as follows:

   a. all work in connection with the preparation of federal income
tax returns for the 2015 post-petition period, at a cost not to
exceed $10,000, plus actual expenses incurred.

   b. all work in connection with the preparation of federal income
tax returns for the years 2016 through 2021, at a cost of not more
than $3,000 per return, for a total of $18,000, plus actual
expenses incurred.

The firm's hourly rates are:

     Partner                     $500 to $700 per hour
     Senior Managers/Managers    $395 to $495 per hour
     Staff                       $290 to $390 per hour
     Paraprofessionals           $195 to $285 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

Vinay Agarwal, a partner at Plotzker & Agarwal, 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:

     Vinay Agarwal
     Plotzker & Agarwal, CPAS, LLC
     150 East 58th Street, Suite 2001
     New York, NY 10155

                 About Corporate Resource Services

Corporate Resource Services, Inc. was a provider of corporate
employment and human resource solutions headquartered in New York.
CRS leased its headquarters and does not own any real property.
About 90% of CRS shares were owned by Robert Cassera and the
balance were traded OTC.

As of Dec. 31, 2014, CRS was one of the largest employment staffing
companies in the U.S., providing employment and human resources
solutions for corporations with annual sales of about one billion
dollars. In February 2015, CRS began an orderly wind down of
operations after discovering that TS Employment, Inc., a privately
held company owned by Mr. Cassera, failed to remit tens of millions
of dollars of the Debtors' withholding taxes to taxing
authorities.

TS Employment Inc., a professional employer organization that
provided payroll-related services for CRS, sought Chapter 11
protection (Bankr. S.D.N.Y. Case No. 15-10243) in Manhattan on Feb.
2, 2015. The case was before Judge Martin Glenn. TSE tapped Scott
S. Markowitz, Esq., at Tarter Krinsky & Drogin LLP, in New York, as
its legal counsel.

CRS and its subsidiaries sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 15-11546) on July 23, 2015, to complete their
orderly wind down of operations.  The cases were transferred to New
York (Bankr. S.D.N.Y. Lead Case No. 15-12329) on Aug. 18, 2015, and
assigned to Judge Glenn. CRS estimated $10 million to $50 million
in assets and $50 million to $100 million in debt.

CRS and its subsidiaries tapped Gellert Scali Busenkell & Brown,
LLC as bankruptcy counsel; Wilmer Cutler Pickering Hale & Dorr, LLP
and Carter Ledyard & Milburn, LLP as special counsel; and SSG
Capital Advisors as financial advisor and investment banker.  Rust
Omni, LLC is the claims agent.

James S. Feltman was appointed as Chapter 11 trustee in the
Debtors' Chapter 11 cases.  The trustee tapped Togut, Segal &
Segal, LLP as bankruptcy counsel.  Jenner & Block, LLP, Greenberg
Traurig, P.A., and Jeffer Mangels Butler & Mitchell, LLP serve as
the trustee's special counsel.


COSMOS HOLDINGS: Incurs $2.2 Million Net Loss in First Quarter
--------------------------------------------------------------
Cosmos Holdings Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.17 million on $11.62 million of revenue for the three months
ended March 31, 2021, compared to a net loss of $483,310 on $11.93
million of revenue for the three months ended March 31, 2020.

As of March 31, 2021, the Company had $41.69 million in total
assets, $44.50 million in total liabilities, and a total
stockholders' deficit of $2.80 million.

At March 31, 2021, the Company had working capital of $6,817,608
compared to $5,979,870 as of Dec. 31, 2020.

The Company had cash of $431,807 versus $628,395 as of March 31,
2021 and December 2020, respectively.  The Company had net cash
used in operating activities of $665,339 and $1,144,755 for the
three months ended March 31, 2021 and 2020, respectively.  The
Company has devoted substantially all of its cash resources to
expand through organic business growth and, where appropriate,
through the execution of selective company and license
acquisitions, and has incurred significant general and
administrative expenses in order to enable the financing and growth
of its business and operations.

The Company had net cash used in investing activities of $2,310 and
$54,223 during the three months ended March 31, 2021 and 2020,
respectively.  For the three months ended March 31, 2021 and 2021
this was due to the purchase of fixed assets.

The Company had net cash provided by financing activities of
$380,118 versus $2,389,703 during the three months ended March 31,
2021 and 2020, respectively.

For the quarter ended March 31, 2021, the Company borrowed total
net proceeds of $100,000 from an unaffiliated third-party lender.
The convertible note bears interest at a rate of 8% per annum.  The
Company also received proceeds of $250,000 from the sale of
treasury shares to a third-party and there were proceeds from lines
of credit of $6,123,067 and payments of lines of credit of
$6,219,899, for a net decrease on the line of credit of $96,832.

The Company stated, "We anticipate using cash in our bank account
as of March 31, 2021, cash generated from the operations of the
Company and its operating subsidiaries and from debt or equity
financing, or from a loan from management, to the extent that funds
are available to do so to conduct our business in the upcoming
year.  Management is not obligated to provide these or any other
funds.  If we fail to meet these requirements, we may lose the
qualification for quotation and our securities would no longer
trade on the over-the-counter markets.  Further, as a consequence
we would fail to satisfy our reporting obligations with the
Securities and Exchange Commission ("SEC"), and investors would
then own stock in a company that does not provide the disclosure
available in quarterly and annual reports filed with the SEC and
investors may have increased difficulty in selling their stock as
we will be non-reporting."

                       Management Commentary

Greg Siokas, chief executive officer of Cosmos Holdings, stated,
"As anticipated, our revenue for the first quarter of 2021
decreased slightly due to the global pandemic and new Brexit rules
that went into effect in January 2021, which had a temporary impact
on our parallel trade business.  Nevertheless, we continue to
report the continued growth in our nutraceuticals business, which
increased by 89% year over year and sequentially by 60% versus the
fourth quarter of 2020.  Looking ahead, we believe that in the
coming quarters our full line wholesale revenue will outpace the
temporary decrease in our parallel trade revenue, which in turn,
should also improve as the market adapts to the new Brexit rules."

"We launched four new Sky Premium Life products: Bodyguard,
Osteodome, King Eros and Queen Venus.  We also launched
Mosept-Oral, a new, proprietary oral antiseptic spray designed to
be effective against bacteria, certain viruses and fungi, as well
as for the symptomatic relief of painful, irritated sore throats.
We believe that the introduction of new branded pharmaceuticals and
new nutraceuticals into international markets will become major
drivers of our revenue growth and profitability in coming quarters,
as we have built a robust distribution network, which now includes
relationships with over 160 wholesale pharmaceutical distributors
across Europe's largest markets, with access to over 50,000
pharmacies."

"Most recently, our subsidiary, Decahedron Ltd, a UK-based
pharmaceutical wholesaler, distributor and fulfillment center,
initiated the launch of Sky Premium Life products on Amazon United
Kingdom (UK) and we expect to have all 65 Sky Premium Life SKUs
listed on Amazon UK by the end of this year.  The Amazon UK
initiative is major step forward in the roll-out of our e-commerce
and online global distribution strategy.  Launching our Sky Premium
Life products on Amazon UK is expected to provide us the
opportunity for exponential growth, driven by the increasing global
demand for vitamins, minerals and dietary supplements, as well as
the shift towards e-commerce shopping.  In addition, we continue to
add distributors worldwide and expect to enter a number of new
European and global markets later this year."

"It's important to note that we are investing heavily in R&D and
marketing of our proprietary line of branded pharmaceuticals,
nutraceuticals and food supplements.  Also in our results of
operations are included $1.2 million of non-cash, stock-based
compensation expenses related to international consulting
activities, all of which we believe will help drive our future
success.  Finally, we are working towards our goal of uplisting to
a national securities exchange, which we believe will enhance
Cosmos' visibility in the investment community and help increase
the liquidity of the stock, supporting our goal of building
long-term shareholder value as we execute on a number of key
initiatives this year."

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

https://www.sec.gov/Archives/edgar/data/1474167/000147793221003348/cosm_10q.htm

                       About Cosmos Holdings

Cosmos Holdings Inc. is a multinational pharmaceutical wholesaler.
The Company imports, exports and distributes pharmaceutical
products of brand-name and generic pharmaceuticals,
over-the-counter (OTC) medicines, and a variety of dietary and
vitamin supplements.  Currently, the Company distributes products
mainly in the EU countries via its two wholly owned subsidiaries
SkyPharm SA and Decahedron Ltd.

Cosmos Holdings reported net income of $820,786 for the year ended
Dec. 31, 2020, compared to a net loss of $3.30 million for the year
ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had $43.84
million in total
assets, $48 million in total liabilities, and a total stockholders'
deficit of $4.16 million.

San Francisco, California-based Armanino LLP, the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated April 15, 2021, citing that the Company has suffered
recurring losses from operations and has a net accumulated deficit
that raises substantial doubt about its ability to continue as a
going concern.


CRAVE BRANDS: Gets OK to Hire Ostrow Reisin as Accountant
---------------------------------------------------------
Crave Brands, LLC and Meathead Restaurants, LLC received approval
from the U.S. Bankruptcy Court for the Northern District of
Illinois to hire Ostrow Reisin Berk & Abrams, Ltd. as their
accountant.

The firm's services include:

     a. consulting, advising, researching, planning, and analyzing
with regard to accounting and tax compliance;

     b. providing tax consulting services;

     c. preparing state and federal tax returns; and

     d. preparing accounting reports and performing additional
professional tax services as may be necessary or requested.

The firm's hourly rates are as follows:

     Director                                    $375 - $500
     Quality Control (Financial Statements)      $350 - $375
     Senior Staff (review level)                 $200 - $325
     Staff                                       $100 - $200
     Typing/Proffing Reports                     $60 - $100

Peggy Vyborny, a certified public accountant at Ostrow, 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:

     Peggy Vyborny, CPA
     Ostrow Reisin Berk & Abrams, Ltd.
     455 N Cityfront Plaza Dr #1500
     Chicago, IL 60611
     Phone: 312.670.7444
     Fax: 312.670.8301
     Email: info@orba.com

                        About Crave Brands

Crave Brands LLC, a company based in Chicago, Ill., sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. Ill. Case No. 21-04729) on April 9, 2021.  In the petition
signed by Steve Karfaridis, manager, the Debtor disclosed total
assets of up to $50,000 and liabilities of up to $10 million.

Judge Timothy A. Barnes oversees the case.  Matthew Brash is the
Subchapter V trustee appointed in the Debtor's bankruptcy case.

David A. Warfield, Esq., at Thompson Coburn LLP, represents the
Debtor as bankruptcy counsel.

LQD Financial Corp., as creditor, is represented by William J.
Factor, Esq.


CRC INVESTMENTS: Bankr. Administrator Unable to Appoint Committee
-----------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Middle District of North
Carolina on May 19 disclosed in a court filing that no official
committee of unsecured creditors has been appointed in the Chapter
11 case of CRC Investments, LLC.
  
                       About CRC Investments

CRC Investments, LLC, doing business as 1906 Pine Crest Inn and
Restaurant, filed a petition under Subchapter V of Chapter 11
(Bankr. M.D.N.C. Case No. 21-80172) on May 6, 2021.  Carl Ray
Caudie, Jr., general manager, signed the petition.  At the time of
the filing, the Debtor had between $1 million and $10 million in
both assets and liabilities.  Joshua H. Bennett, Esq., at Bennet
Guthrie, PLLC represents the Debtor as counsel.


CREATD INC: Incurs $6.6 Million Net Loss in First Quarter
---------------------------------------------------------
Creatd, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $6.64
million on $743,913 of net revenue for the three months ended March
31, 2021, compared to a net loss of $2.99 million on $293,142 of
net revenue for the three months ended March 31, 2020.  

The change in net loss is primarily attributable to the net loss
for the current period offset by share-based payments in the amount
of $1,570,239 to employees and consultants for services rendered,
the accretion of debt discount and debt issuance costs of $497,165
due to the incentives given with debentures, and a gain on
extinguishment of debt of $100,502 in addition to a change in
accounts payable and accrued expenses of $370,528.

As of March 31, 2021, the Company had $6.44 million in total
assets, $4.47 million in total liabilities, and $1.97 million in
stockholders' equity.

At March 31, 2021, the Company had a working capital (deficit) of
$765,420 as compared to a working capital of $3,052,566 at Dec. 31,
2020, a decrease in working capital of $3,817,986.  The decrease is
primarily attributable to a reduction in cash and an increase in
derivative liability, share liability, deferred revenue and notes
payable.  This was offset by an increase in prepaid expense, and a
decrease in accounts payable and convertible notes payable.

Net cash used in operating activities for the three months ended
March 31, 2021 and 2020, was $5,296,638 and $1,314,863,
respectively.  

Net cash used in investing activities for the three months ended
March 31, 2021 was $212,637.  This is attributable to the purchase
of property and equipment, deposits on investments, and cash paid
for the purchase of investments.

Net cash provided by financing activities for the three months
ended March 31, 2021 and 2020 was $412,576 and $1,430,826. During
the three months ended March 31, 2021, the Company was
predominantly financed by net proceeds from the exercise of warrant
of $1,312,672 and the proceeds from loans and notes of $85,500 to
fund operations, the proceeds of which were partially offset by the
repayment of notes and loans a of $985,596.  Similarly, the
Company's financing activity for the three-month period ended March
31, 2020 generated $1,475,610 from loans and notes, the proceeds of
which were partially offset from repayment of notes of $115,000.

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

https://www.sec.gov/Archives/edgar/data/1357671/000121390021027195/f10q0321_creatdinc.htm

                        About Creatd, Inc.

Headquartered in Fort Lee, NJ, Creatd, Inc. -- https://creatd.com
--is the parent company behind Vocal Ventures, Creatd Partners, and
Recreatd, empowers creators, brands, and entrepreneurs through
technology and partnership. Its flagship product, Vocal, is a
best-in-class creator platform.

Creatd, Inc reported a net loss of $24.21 million for the year
ended Dec. 31, 2020, compared to a net loss of $8.04 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$10.78 million in total assets, $5.34 million in total liabilities,
and $5.45 million in stockholders' equity.

Somerset, New Jersey-based Rosenberg Rich Baker Berman, P.A., the
Company's auditor since 2018, issued a "going concern"
qualification in its report dated March 30, 2021, citing that the
Company had a significant accumulated deficit, and has incurred
significant net losses and negative operating cash flows.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern for a period of one year from the
issuance of the financial statements.


CROWN REMODELING: Unsecured Creditors to Recover 16.14% Under Plan
------------------------------------------------------------------
Crown Remodeling, LLC filed with the Bankruptcy Court a Third
Amended Chapter 11, Subchapter V Plan.  During the term of the
Plan, the Debtor shall submit the disposable income necessary for
the performance of the Plan to the Subchapter V Trustee.  The term
of the Plan begins on the Effective Date and ends on the 60th month
thereafter.

Unsecured creditors holding allowed claims will receive
distributions, which the Debtor has valued at approximately 16.14
cents on the dollar. The Plan also provides for the payment of
secured, administrative, and priority claims in accordance with the
Bankruptcy Code.

Classes of claims and their treatment under the Plan:

  * Class One - Administrative Claims.  Class One consists of
claims of Chapter 11 Trustee, the Debtor's attorney, and
accountants.  These claims will be paid in full in advance of all
other claims.

  * Class Two - Priority Claims.  Class Two consists of Internal
Revenue Service Priority Claim, which will be paid after the
administrative claims are paid.

  * Class Three - Secured Claims.  Class Three consists of claim
for security interests on the Debtor's assets on account of UCC-1
filings.  The Debtor proposes to pay these claims up to $113,755,
which is the liquidation value of the Debtor's assets.

  * Class Four - All Scheduled and Filed Unsecured Claims.  These
claims will be paid in the scheduled amounts unless the creditor
timely files a proof of claim.  Class Four Claims will be paid
pro-rata from available funds after all Class One, Class Two and
Class Three Claims have been paid in full.  The Debtor estimates
that Class Four Claims aggregate $1,200,000 against available funds
of approximately $68,640, or a dividend of approximately 16.14%.  

The Debtor filed its Second Amended Plan on May 11, 2021, and the
original Plan on April 13, 2021.

A copy of the Third Amended Plan is available for free at
https://bit.ly/3oyT0en from PacerMonitor.com.

                      About Crown Remodeling

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 has been appointed as Subchapter V Trustee in the
Debtor's case.


CYPRUS MINES: Judge Denies Bid to Reconstitute Tort Committee
-------------------------------------------------------------
A group of Cyprus Mines Corp. claimants failed to get court
approval of its request to reconstitute the official committee of
tort claimants appointed in the company's Chapter 11 case.

In a bench ruling on May 18, Judge Silverstein of the U.S.
Bankruptcy Court for the District of Delaware denied the motion
filed by the claimants, saying that adding members to the
seven-member tort claimants' committee or appointing a separate
committee does not address the alleged conflict that the claimants
posit.

"I conclude that the Cyprus committee adequately represents the
Cyprus creditors as a whole such that the appointment of an
additional committee or additional members on the current committee
is not appropriate.  The Cyprus committee members themselves have
no conflict," the bankruptcy judge said.

"I have no evidence that any Cyprus committee member has breached
his or her fiduciary duty.  Moreover, neither the Cyprus committee
itself nor any member thereof has complained that the committee
cannot function or that his or her voice is not being heard," Judge
Silverstein further said.

The claimants on March 23 argued in court papers that the law firms
representing five of the seven members had previously voted in
favor of a settlement on which Cyprus Mines' Chapter 11 plan of
reorganization is based.  They argued that appointing four
additional members to the seven-member tort claimants' committee is
necessary so that a majority of its members are not conflicted.

Cyprus Mines and its parent companies, Cyprus Amax Minerals Company
and Freeport-McMoRan Inc., reached an agreement with Imerys Talc
America in December last year to settle all of their talc-based
personal injury liabilities.  To aid in the implementation of the
settlement, Cyprus Mines formed and funded an ad hoc committee of
tort claimants prior to its Chapter 11 filing.  This ad hoc
committee consisted of eight law firms, five of which currently
represent members of Cyprus Mines' official tort claimants'
committee.

                  About Cyprus Mines Corporation

Cyprus Mines Corporation is a Delaware corporation and a
wholly-owned subsidiary of Cyprus Amax Minerals Co., which is an
indirect subsidiary of Freeport-McMoRan Inc. It currently has
relatively limited business operations, which include the ownership
of various parcels of real property, certain royalty interests that
generate de minimis revenue (e.g., less than $1,500 in each of the
past two calendar years), and the ownership of an operating
subsidiary that conducts marketing activities.

Cyprus Mines is a predecessor in interest of Imerys Talc America,
Inc. In June 1992, Cyprus Mines sold its talc-related assets to RTZ
America Inc. (later known as Rio Tinto America, Inc.) through a
two-step process. First, Cyprus Mines transferred its talc-related
assets and liabilities (subject to minor exceptions) to Cyprus Talc
Corporation, a newly formed subsidiary of Cyprus Mines, pursuant to
an Agreement of Transfer and Assumption, dated June 5, 1992.
Second, Cyprus Mines sold the stock of Cyprus Talc Corporation to
RTZ pursuant to a Stock Purchase Agreement, also dated June 5, 1992
(as amended, the "1992 SPA"). The purchase price was approximately
$79.5 million. Cyprus Talc Corporation was later renamed Imerys
Talc America, Inc. By virtue of the 1992 ATA, the entity now named

Imerys expressly and broadly assumed the talc liabilities of Cyprus
Mines and its former subsidiaries that were in the talc business.

Cyprus Mines filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 21-10398) on Feb. 11, 2021, listing between $10
million and $50 million in assets, and between $1 million and $10
million in liabilities.

The Hon. Laurie Selber Silverstein is the case judge.

The Debtor tapped Reed Smith LLP, led by Kurt F. Gwynne, Esq., as
bankruptcy counsel; Kasowitz Benson Torres, LLP as special
conflicts counsel; and Prime Clerk LLC as claims agent.

James L. Patton, Jr. was appointed as the future claimants'
representative in the Debtor's Chapter 11 case. The FCR tapped
Young Conaway Stargatt & Taylor, LLP as his bankruptcy counsel and
Gilbert, LLP as his special insurance counsel.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of tort claimants on March 4, 2021.  The tort committee
is represented by Caplin & Drysdale, Chartered and Campbell &
Levine, LLC.  Province, LLC and Axlor Consulting, LLC serve as the
tort committee's financial advisor and consultant, respectively.


DEER CREEK: Asks Court to Extend Plan Exclusivity Thru July 1
-------------------------------------------------------------
Debtor Deer Creek Diner, LLC requests the U.S. Bankruptcy Court for
the Western District of Pennsylvania to extend the exclusive
periods during which the Debtor may file a Chapter 11 plan and
disclosure through and including July 1, 2021.

The Debtor is a small business operating a small diner out of a
single location in Russellton, PA.

The Debtor says it has filed all operating reports and paid all US
Trustee fees since the filing of the case. The Debtor has met all
Chapter 11 operating requirements since the filing of the case.

Due to the COVID-19 pandemic, the Debtor was operating sporadically
in 2020 while dealing with shutdown orders and limited capacity.
The Debtor operated continuously in 2021 but was still dealing with
limited capacity and decreased revenues.

Now that the majority of the COVID-19 restrictions either have or
will be lifted by the end of May 2021, the Debtor believes that
revenue will increase and that the Debtor will be able to propose a
feasible Chapter 11 Plan in short order. The Debtor also is still
finishing getting a pre-petition tax filing situation squared away
with its payroll company, which will involve amended claims by the
IRS and the PA Department of Revenue.

Despite the fact that revenue was down due to the pandemic, the
Debtor still has been able to show a profit since the filing of the
Chapter 11 case, and there is a strong likelihood that the Debtor
will be able to reorganize.

The Debtor has been able to weather the storm of the pandemic and
now believes that an additional 45 days should be enough time to
put together a feasible Chapter 11 Plan. No creditors or parties in
interest will be prejudiced by extending the time to file a Chapter
11 Plan and Disclosure Statement.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3osBDMs from PacerMonitor.com.

                           About Deer Creek Diner LLC

Deer Creek Diner, LLC, a restaurant company based in Russellton,
Pa., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D. Pa. Case No. 20-23252) on Nov. 18, 2020. The petition
was signed by Leslie A. Rhodes, a managing member.

At the time of the filing, the Debtor had estimated assets of less
than $50,000 and liabilities of between $100,001 and $500,000.

Judge Thomas P. Agresti oversees the case. Steidl & Steinberg is
Debtor's legal counsel.


DEER CREEK: Unsecureds to Share Pro Rata of Asset Sale/Refinance
----------------------------------------------------------------
Deer Creek Village, LLC, filed with the Bankruptcy Court an Amended
Plan of Reorganization.  The Debtor's obligations under the Plan
will be satisfied out of the Debtor's on-going rental of the
properties.

Classes of Claims Under the Plan:

  * Class 1 Allowed Administrative Claims of Professionals and US
Trustee

  * Class 2 Allowed Tax Creditor Claims

  * Class 3 Allowed Secured Claim of Crooked Creek.

Class 3, which is impaired under the Plan, aggregate $2,788,355 and
accrue 13%.  Attached to the Crooked Creek Proof of Claim is that
certain Real Estate Lien Note and a Deed of Trust Security
Agreement and Financing Statement securing the Claim.  The Crooked
Creek Deed of Trust is valid and enforceable against the Debtor's
property held in collateral for the loan evidenced by the Note.  

The Debtor shall be permitted a period of time after confirmation
to attempt to sell the subject Property.  The Debtor may sell the
Property for any price which pays to Crooked Creek at closing the
total amount of its then outstanding claim in immediately available
funds, which shall not be subject to any costs or fees of closing.
During the sales period the Debtor shall pay Crooked Creek in
immediately available funds $30,207 monthly, with the first Plan
payment due on June 1, 2021 and each Plan payment thereafter on the
first of the month during the sales period.  The Debtor's failure
to make a timely Plan Payment shall constitute an event of default
under the Plan.

   * Class 4 Allowed Secured Claim of Crowley Commercial, LLC

Class 4 Claim arose out of a promissory note the Debtor issued in
favor of Crowley Commercial, LLC for $2,202,357.  The Note was
secured by a Deed of Trust (duly recorded in the Deed Records of
Tarrant County, Texas) on the Property.

Crowley's Class 4 Claim shall be subordinated to all other
creditors of the Debtor.  Crowley's Class 4 Claim shall be paid
only after all other creditors of the Debtor have been paid in
full.  Crowley, however, shall retain its lien on the Property in
its current priority, but in the event of
a sale or refinancing of all or a portion of the Property, Crowley
shall release its lien (whether paid in full or not) from the
proceeds of the refinancing or sale.

   * Class 5 Allowed Secured Claim of Casey Wedgeworth

Class 5 Claim arose on account of a $350,000 promissory note the
Debtor issued in favor of Casey Wedgeworth.  The note was secured
by a Deed of Trust duly recorded in the Deed Records of Tarrant
County, Texas.  

Wedgeworth shall have a secured claim for the allowed outstanding
indebtedness, which shall be paid in full upon the refinancing of
the Property or the sale of a portion of the Property.  Wedgeworth
shall retain its lien in its current priority until paid in full in
accordance with the Plan.

   * Class 6 Allowed Mechanic's Lien Claims

   * Class 7 Allowed Non-Insider Unsecured Creditor Claims.  

Class 7 Claims shall be paid their pro rata share of funds received
by the Debtor in the re-financing or sale of the Property after
payment of Classes 1, 2, 3, 5, and 6.  Based upon the Debtor's
current Lease and LOI, all Allowed Class 7 Creditors shall be paid
in full.  The Class 7 Claims are impaired under the Plan.

   * Class 8 Allowed Insider Unsecured Creditors' Claims

The Allowed Class 8 Creditor Claims shall be paid their pro rata
share of funds received by the Debtor in the refinancing or sale of
the Property, as mentioned, after payment of Classes 1, 2, 3, 5, 6,
and 7. Based upon the Debtor's current Lease and LOI all Allowed
Class 8 Creditors shall be paid in full.

   * Class 9 Allowed Equity Holders

The current equity holders shall retain their interest in the
Debtor under the terms of the Plan.

A copy of the Amended Plan is available for free at
https://bit.ly/3tRWauQ from PacerMonitor.com.

                    About Deer Creek Village

Deer Creek Village, LLC, is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Section 101(51B)).  The Company is the fee
simple owner of a property located at 12301 Southwest Freeway,
Burleson, Texas having a current value of $6 million.

Deer Creek Village filed a voluntary petition for relief under
Chapter 11 of Bankruptcy Code (Bankr. N.D. Tex. Case No. 20-43612)
on Nov. 30, 2020.  The petition was signed by Dennis Head, managing
member.  At the time of the filing, the Debtor disclosed total
assets of $6,000,500 and total liabilities of $5,892,729.  Eric A.
Liepins, Esq., serves as the Debtor's counsel.


DELUXE CORP: Moody's Assigns 'B1' CFR on FAPS Acquisition
---------------------------------------------------------
Moody's Investors Service assigned a B1 corporate family rating and
B1-PD probability of default rating to Deluxe Corporation. Moody's
also assigned a B3 rating to Deluxe's proposed $500 million senior
unsecured notes currently being marketed in connection with the
company's pending acquisition of First American Payment Systems
("FAPS"). Concurrently, Moody's assigned an SGL-2 speculative grade
liquidity rating, reflecting good liquidity. The outlook is
stable.

The ratings reflect the company's execution risk associated with
its on-going transformation to a payment technology company and
still high exposure to the secularly declining check business.
Deluxe's financial policy with a long-term net leverage target of
3.0x or below and good liquidity mitigate the uncertainty over the
future pace of decline of this revenue stream which represents 58%
of the company's EBITDA and 34% of revenue proforma for the FAPS
acquisition.

While the FAPS acquisition will cause a temporary increase in
leverage to a proforma 4.6x from 2.4x at FYE2020 (both metrics are
Moody's adjusted), it is strategically sound as it allows Deluxe to
continue to diversify away from secularly declining check business.
The acquisition shifts the revenue and EBITDA mix to Payments, a
growing business that is benefitting from evolving social trends
and the growing use of non-paper payment methods. It will also
allow Deluxe to gain access to FAPS' customer base which could
present a sizable opportunity to cross-sell its products. The
company's management is committed to delevering and expects to
return to its target net leverage of 3x or below (company
definition, before Moody's adjustments) in approximately 24 months
following the close.

Assignments:

Issuer: Deluxe Corporation

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Senior Unsecured Notes due 2029, Assigned B3 (LGD5)

Speculative Grade Liquidity Rating, Assigned SGL-2

Outlook Actions:

Issuer: Deluxe Corporation

Outlook, Assigned Stable

RATINGS RATIONALE

Deluxe's B1 CFR reflects the company's large exposure to the
structurally declining check business, secular pressures facing
promotional print products from digital substitution, and continued
restructuring and investments needed to support the company's
transition towards a greater focus on Payments and cross selling
activities. Deluxe's business model remains in transition, which
can prompt investments outside traditional areas of expertise in an
effort to find alternative revenue sources. Nevertheless, the
company's moderate leverage and good liquidity allow sufficient
financial flexibility to manage these structural business risks.

The B1 rating also reflects the company's steady free cash flow and
management's publicly stated financial policy to apply free cash
flow to debt repayment. The ratings garner support from the
company's large scale, strong relationships with its clients and
multi-year contracts for most of its financial institutions
clients, and strong market positions in the check printing
businesses. Management demonstrated its ability to cut costs and
grow revenues notwithstanding the pressure from declining check
volumes in the past, which had resulted in a good track record of
cash flow generation historically.

Deluxe's SGL-2 rating reflects Moody's expectation that the company
will maintain good liquidity over the next 12 to 18 months, driven
by solid free cash flow generation and over $100 million of cash on
hand. The company's proposed $500 million revolving credit facility
(unrated) is expected to have a roughly $200 million outstanding
balance at the close of the acquisition Moody's expect that the
revolver balance will be reduced over time from the company's free
cash flows which Moody's conservatively estimates at around $80-$90
million over the next 12 months.

The proposed credit facility (revolver and term loan) is expected
to be governed by three maintenance covenants: a maximum leverage
of 5x, a maximum secured leverage of 4x and a minimum interest
coverage of 2.75x. The interest coverage covenant will step up and
leverage covenants will be step down starting with the quarter
ending June 30, 2022. Moody's expects that Deluxe will have at
least a 20% headroom over the requirement over the next 12-18
months.

ESG CONSIDERATIONS

Social risks taken into Deluxe's ratings include the evolving
demographic and social trends and changing consumer preferences
that have a negative impact on the company's checks and print
promotional services segments and positive impact on payments and
cloud services.

The company's check printing business faces secular pressures that
Moody's believes will continue and would likely accelerate due to
the wide and growing adoption of less costly and more convenient
electronic, on-line and mobile payment alternatives.

The payment processing sector benefits from the continued
democratization of financial services and the on-going technology
evolution which has societal benefits of improved efficiency of
commerce, connectivity, productivity, and quality of life. It is
further supported by government-encouraged reduction in use of cash
and increase in adoption of electronic payments globally as
governments are focused on increasing economic growth, raising tax
revenues and combatting illegal activity undertaken in cash. In
addition, the longer-term effects of the coronavirus outbreak for
the financial technology industry are likely to be positive due to
the resulting acceleration of the industry's secular driving trends
including electronic payments' share gain from cash, e-commerce
share gain of retail sales, and digitization of financial
services.

A key risk area for the sector is security of the large amounts of
customer data. A data breach could result in significant fines,
sanctions or legal proceedings by payment networks, governmental
bodies, or consumers. An elevated breach risk environment could
result in increased operating costs to protect data.

From a governance perspective, Moody's considers the company's
commitment to moderate leverage one of key credit considerations
supporting the rating.

STRUCTURAL CONSIDERATIONS

The instrument ratings reflect the probability of default of the
company, as reflected in the B1-PD probability of default rating,
an average expected family recovery rate of 50% at default given
the mix of secured and unsecured debt and the unsecured notes'
ranking in the capital structure. The proposed $500 million
unsecured notes are ranked below the proposed $1.655 billion senior
secured credit facilities due 2026 (unrated). The unsecured notes
are rated B3, two notches below the CFR reflecting its most junior
position in the capital structure and the resultant loss absorption
in a distress scenario.

As proposed, the new credit facilities are expected to provide
covenant flexibility that if utilized could negatively impact
creditors. Notable terms include the following:

Incremental debt capacity up to the greater of $400 million and
100% of Consolidated EBITDA, plus an unlimited amount subject to a
first lien net leverage ratio (net of unrestricted cash and
equivalents in excess of $15 million) of no greater than the
closing date level for pari passu first lien secured debt. No
portion of the incremental may be incurred with an earlier maturity
than the initial term loans.

The credit agreement permits the transfer of assets to unrestricted
subsidiaries, up to the carve-out capacities, but is expected to
include "blocker" provisions that restrict designating an
unrestricted subsidiary if it owns material intellectual property.
Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees, with no
explicit protective provisions limiting such guarantee releases.

The credit agreement provides some limitations on up-tiering
transactions, including a requirement that a written consent of all
directly and adversely affected lenders must be received for any
amendment, waiver or other modification to any term or provision
that permits the issuance or incurrence of any indebtedness with
respect to which (a) the liens on the assets securing the
obligations under any class would be subordinated or (b) all or any
portion of the obligations under any class would be subordinated in
right of payment.

The proposed terms and the final terms of the credit agreement may
be materially different.

The stable ratings outlook anticipates that Deluxe will continue to
profitably grow products and services that moderate its
vulnerability to declines in printed check volumes and prices.
Moody's also expects that Deluxe will conservatively manage its
liquidity, use cash flow to pay down debt and will not engage in
transactions that increase leverage until it delevers to its target
leverage level.

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

The ratings could be upgraded if the company sustains steady
organic revenue growth in the mid-single digit range,
debt-to-EBITDA is sustained below 4x, FCF/Debt sustained above 10%
(both metrics are Moody's adjusted) and the company maintains good
liquidity.

A downgrade could result if revenue continues to decline or more
aggressive financial policies are implemented before long-term
financial targets are achieved. The ratings could be downgraded if
FCF/Debt is maintained in the mid-single digit percent range or
below or if Moody's expects Debt/EBITDA to be sustained above 5x.
All metrics incorporate Moody's standard adjustments.

The principal methodology used in these ratings was Media Industry
published in June 2017.

Headquartered in Shoreview, MN, Deluxe Corporation is a provider of
payment solutions mainly to businesses and financial institutions.
The services include checks, treasury management, forms, marketing
solutions, web hosting, data-driven marketing. Revenue for the
twelve months ended March 31, 2021 was approximately $1.7 billion.


DENARDO CAPITAL: Seeks October 14 Plan Exclusivity Extension
------------------------------------------------------------
Debtors DeNardo Capital Management LLC and DeNardo Capital II LLC
request the U.S. Bankruptcy Court for the Southern District of New
York to extend the exclusive periods during which the Debtors may
file a plan of reorganization and to solicit acceptances through
and including October 14, 2021, and February 11, 2022,
respectively.

On April 16, 2021, an application seeking an examination of the
Debtors pursuant to Bankruptcy Rule 2004 was filed by the Debtors'
secured creditor, Silver Point Finance LLC, Specialty Credit
Holdings, LLC and Zee Bridge Capital LLC, which noticed April 30,
2021, as the deadline for objections thereto.

On April 30, 2021, the Debtors filed an objection to the Lender
Parties' 2004 Application.

On May 7, 2021, counsel for the Debtors and counsel for the Lender
Parties conferred and agreed to a resolution of the Debtors'
objections to the Lender Parties' 2004 Application.

On May 10, 2021, an application seeking an examination of the
Lender Parties was filed by the Debtors.

On May 14, 2021, the Debtors filed a motion to set the last day to
file proofs of claim, which is scheduled for presentment to the
Court on June 7, 2021. The application proposes a Bar Date of July
22, 2021. In order for the Debtor to move forward with their
Chapter 11 plan, it is essential that it be able to identify the
universe of claims and evaluate any potential priority issues which
may present.

On May 17, 2021, counsel for the Debtors and counsel for the Lender
Parties conferred and are working toward a resolution of the Lender
Parties' objections to the Debtors' 2004 Application.

Additionally, Debtors and the Lender Parties are cooperating in an
exchange of documents and information through the Rule 2004
process. A reasonable amount of time – 8 to 12 weeks - is
required to complete that process before the Debtor can move the
matter forward.

The Debtors has recently successfully concluded negotiations with
its secured creditor, Southern Financial Group, and a Motion to
approve the agreement pursuant to Rule 9019 will be filed with the
Court in the next few days which hearing will occur several weeks
later. In order for the Debtor to propose a chapter 11 plan, the
Debtor must know if the settlement will be approved by the Court.

The Debtors submit that cause exists for the further extension of
the Exclusive Periods. Termination of the Debtor's Exclusive
Periods will materially affect the Debtor's ability to continue the
efforts. A competing plan would delay, complicate and potentially
compromise the recovery to creditors in this case.

Specifically, the Debtors do not believe that a creditor, under a
competing plan, will be able to realize the same value for the
assets as the Debtor. In addition, a competing chapter 11 plan
could result in higher administrative costs to the estate which
will also reduce the ultimate recovery to creditors.

The Debtors' hearing date is scheduled on June 3, 2021, at 3:00
p.m.

A copy of the Debtors' Motion to extend is available at
https://bit.ly/3tXKWVx from PacerMonitor.com.  

                             About DeNardo Capital

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

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

The cases are assigned to Judge Sean H. Lane. Kirby Aisner & Curley
LLP, led by Dawn Kirby, Esq., serves as counsel to the Debtors.


DISCOVERY DAY: Hearing on Bonita Springs Property Sale Continued
----------------------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida continued the hearing on Discovery Day Academy
II, Inc.'s sale of a parcel of real property located at 23601 North
Commons Drive, in Bonita Springs, Florida, to Bank OZK for
$3,776,871.87 credit bid, subject to overbid, to May 19, 2021, at
1:30 p.m.

The Debtor is the owner of the Property.  A related entity,
Discovery Day Academy, IV, Inc., operates a private school offering
grades K-7 on the Property.  

Scott A. Underwood is directed to serve a copy of the Order on
interested parties who do not receive service by CM/ECF and file a
proof of service within three days of entry of the Order.

                  About Discovery Day Academy II

Discovery Day Academy II Inc. is an independent private school
located in Bonita Springs. Founded in 2006, Discovery Day Academy
has developed The Discovery Method, a project-based learning
model,
with an emphasis on children ages two to eight years.

Discovery Day Academy II filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
20-04183) on May 29, 2020.  Discovery Day President Elizabeth A.
Garcia signed the petition.  At the time of the filing, the Debtor
disclosed $5,500,000 and $6,050,389 in liabilities.

Judge Caryl E. Delano oversees the case.  

The Debtor tapped Dal Lago Law as its legal counsel and Noack and
Co. as its accountant.



EHT US1: Wants Plan Exclusivity Extended Thru August 16
-------------------------------------------------------
EHT US1, Inc. and its affiliates ask the U.S. Bankruptcy Court for
the Southern District of New York to extend by 90 days the Debtors'
exclusive period to file a Chapter 11 Plan through and including
August 16, 2021, and to solicit acceptances through and including
October 18, 2021. This is the Debtors' first request for an
extension of the Exclusivity Periods.

The Debtors submit that all of the relevant factors for determining
whether cause exists to extend the Exclusivity Periods have been
met in these Chapter 11 Cases. The Debtors are currently in the
midst of a sale process that is expected to culminate in a sale
hearing on May 28, 2021, and closings of one or more sales during
the month of June 2021.

Moreover, the Debtors say that the bar date has not yet passed.
While the Debtors are obviously aware of many of their creditors,
such as their bank lenders, it is very possible that claims will be
asserted by currently unknown third parties—especially under the
circumstances here, including the changing ownership of hotel
properties in the years prior to the petition date and the prior
landlord-tenant relationships with respect to these properties.
Without a more thorough picture of the universe of claims, it is
impracticable for the Debtors to formulate a chapter 11 plan.

Furthermore, while the Debtors have moved as expeditiously as
possible in these chapter 11 cases, they are not yet in a position
to negotiate and propose a chapter 11 plan. Once many of the
significant contingencies in these cases are resolved, including,
most notably, the sale process (but also the pending motion to
dismiss the chapter 11 cases of the Singapore debtors), the Debtors
will be in a position to begin formulating a chapter 11 plan,
including the allocation of the proceeds of such sale(s).
Nevertheless, the stalking horse bid, and the Debtors' continued
marketing of their assets, demonstrate reasonable prospects for a
viable chapter 11 plan.

The Debtors say that they are not seeking to extend the Exclusivity
Periods to pressure creditors to accept the Debtors' demands. The
Debtors simply need more time to resolve significant contingencies
in their cases before they can pursue a chapter 11 plan. One of
such contingencies is the fact that the general bar date is not
until July 15, 2021, and, absent, a more complete picture of the
universe of claims, it is impracticable for the Debtors to
formulate a chapter 11 plan. Nor are the Debtors in a precarious
cash position, and the Debtors are paying their bills as they come
due.

Given the competitive nature of the sale process, the Debtors
believe that it is likely that an auction will be held with respect
to the sale of some or all of the Debtors' assets. The current
posture of these chapter 11 cases thus necessitates an extension of
the exclusive period to file and solicit a chapter 11 plan.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/2SQdzHm from Donlinrecano.com.

                         About Eagle Hospitality Group

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

EHT US1, Inc. and 26 affiliates, including 15 LLC entities that
each owns hotels in the U.S., sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 21-10036) on January 18, 2021.

EHT US1 estimated $500 million to $1 billion in assets and
liabilities as of the bankruptcy filing.

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

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on February 4, 2021.  The committee tapped
Kramer Levin Naftalis & Frankel, LLP as its bankruptcy counsel,
Morris James LLP as Delaware counsel, and Province, LLC as
financial advisor.


ENCORE CAPITAL: Fitch Gives BB+(EXP) Rating to New GBP250MM Notes
------------------------------------------------------------------
Fitch Ratings has assigned Encore Capital Group, Inc.'s
(BB+/Stable) proposed GBP250 million issue of senior secured fixed
rate notes due 2028 an expected rating of 'BB+(EXP)'.

The assignment of a final rating is contingent on the receipt of
final documents conforming to information already reviewed.

Fitch expects the proceeds of the notes to be used principally to
repay an equivalent sum of other notes due 2023 issued by Encore's
subsidiary Cabot Financial (Luxembourg) S.A. Under the global
funding structure Encore implemented in 2020, senior secured notes
issued by Encore and Cabot Financial (Luxembourg) S.A. rank equally
with each other as senior secured obligations, guaranteed by most
Encore subsidiaries. Therefore, the refinancing has no net impact
on consolidated leverage or on the relative rank of the new notes.

Encore purchases portfolios of defaulted receivables from financial
service providers including banks, credit unions, consumer finance
companies, and commercial retailers. It also provides debt
servicing and portfolio management services to credit originators
for non-performing loans. In 2020 it reported 41% growth in income
before tax to USD283 million. Financial performance remained sound
in 1Q21 with record collections of USD606 million and quarterly
income before tax of USD122 million. Estimated remaining
collections reduced slightly to USD8.31 billion (end-2020: USD8.45
billion), with the company noting lower portfolio purchases amid
subdued market supply. During 1Q21 the company also repaid USD161
million of its maturing convertible notes using existing
liquidity.

KEY RATING DRIVERS

The senior secured notes' expected rating is equalised with
Encore's Long-Term Issuer Default Rating (IDR), reflecting the
prior claim on available security of a higher-ranking super-senior
debt level. This results in Fitch expecting average rather than
above-average recoveries for Encore's senior secured notes.

Encore's Long-Term IDR reflects its leading franchise in the debt
purchasing sector in its chosen markets, its strong recent
profitability and its low leverage by the standards of the sector.
The rating also takes into account the concentration of Encore's
activities within debt purchasing and the potential for collections
performance to slow down from recent levels as pandemic-driven
economic support measures are phased out. It further factors in the
need over the longer term for debt purchasers to maintain adequate
access to funding with which to replenish their stocks.

RATING SENSITIVITIES

The notes' expected rating is primarily sensitive to changes in
Encore's Long-Term IDR. However, a downgrade of Encore's IDR would
not automatically lead to negative rating action on the notes,
depending on Fitch's view of the likely impact on recoveries of the
circumstances giving rise to the downgrade. Changes to Fitch's
assessment of relative recovery prospects for senior secured debt
in a default (e.g. as a result of a material shift in the
proportion of Encore's debt which is either unsecured or
super-senior secured) could also result in the senior secured debt
rating being notched up or down from the IDR.

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

-- An upgrade of Encore's IDR is unlikely in the short term,
    against the backdrop of the economic dislocation prompted by
    the pandemic. Over the medium to long term, positive rating
    action would be subject to:

-- Demonstration of continued collections and earnings resilience
    as economic support measures in North America and Europe are
    phased out and the supply to market of non-performing
    receivables normalises; and

-- Long-term maintenance of a gross debt/adjusted EBITDA ratio
    below 2.5x, while also developing a significant tangible
    equity position via retention of profits.

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

-- A sustained fall in earnings generation, particularly if
    leading to a weakening in key debt service ratios or other
    financial efficiency metrics;

-- Failure to adhere to management's public leverage guidance of
    maintaining net debt-to-adjusted EBITDA of 2x-3x;

-- A weakening in asset quality, as reflected in acquired debt
    portfolios significantly underperforming anticipated returns
    or requiring material write-downs in expected recoveries; or

-- An adverse operational event or significant disruption in
    business activities (for example arising from regulatory
    intervention in key markets adversely impacting collection
    activities), thereby undermining franchise strength and
    business model resilience.

ESG CONSIDERATIONS

Encore Capital Group, Inc.: Customer Welfare - Fair Messaging,
Privacy & Data Security: '4', Financial Transparency: '4'

Fitch has assigned Encore an ESG relevance score of '4' in relation
to 'Customer Welfare - Fair Messaging, Privacy & Data Security', in
view of the importance of fair collection practices and consumer
interactions and the regulatory focus on them. Fitch has also
assigned an ESG relevance score of '4' for 'Financial
Transparency', in view of the significance of internal modelling to
portfolio valuations and associated metrics such as estimated
remaining collections. These factors have negative influences on
the rating, but their impacts are only considered moderate, and
they are features of the debt purchasing sector as a whole, and not
specific to Encore.

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

BEST/WORST CASE RATING SCENARIO

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


EXCHANGE BUILDING: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of The Exchange Building Office Condominium Association.
    
                About The Exchange Building Office
                      Condominium Association

The Exchange Building Office Condominium Association sought
protection for relief under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Fla. Case No. 21-40129) on April 9, 2021, listing
under $1 million in both assets and liabilities.  Judge Karen K.
Specie oversees the case.  Bruner Wright, PA represents the Debtor
as legal counsel.


EXECUTIVE LIFE: CIC Gets Court Order to Close Company
-----------------------------------------------------
The California Insurance Commissioner, as liquidator of Executive
Life Insurance Company, received court approval to close the
Company and discharge the Commissioner after filing a declaration
of Compliance scheduled to occur on or about Aug. 1, 2021.

In compliance with the court's order, on July 1, 2020, the
California Commissioner distributed $5,846,885 to Aurora National
Life Assurance Company for further distribution to NON OPT OUT
policyholders and the Commissioner's Conservation & Liquidation
Office distributed $26,334,257 to OPT OUT policyholders.

Following the distribution to Opt Out policyholders, the California
Commissioner of Insurance, Conservation & Liquidation Office have
attempted to reach policyholders who did not receive the July 1,
2020, distribution due to mailing addresses or joint of contact
having changed during the liquidation period, and for whom the
unclaimed distribution remains unclaimed.

Pursuant to the Court order of Dec. 4, 2020, the California
Commission will transfer all unclaimed policyholder funds, as
required, to the unclaimed property departments of 54 states and
territories of the United States by July 1, 2021.  The
policyholders' last address or record will be provided to the
unclaimed property departments.

For more information and to obtain copies of court documents, visit
https://www.caclo.org, call (415) 676-2179, or email at
elic@caclo.org

Executive Life Insurance Company (ELIC) was a large issuer of life
insurance, structured settlement annuities, group annuities, and
guaranteed investment contracts (GICs) issued to pension plans and
municipalities. A conservation order was issued for ELIC on April
11, 1991, and a liquidation order was entered on Dec. 6, 1991.
Most of the company's policies were assumed by Aurora National Life
Insurance Company in 1993.


FANNIE MAE & FREDDIE MAC: Gary Hindes' Latest Words About Capital
-----------------------------------------------------------------
This Letter to the Editor appeared in yesterday's edition of The
Wall Street Journal:

     "Mark A. Calabria continues to repeat the false narrative that
Fannie Mae and Freddie Mac 'failed' and required 'bailouts' from
Uncle Sam ('Are Fannie and Freddie Ready for the Next Housing
Crash?,' op-ed, May 14). Both statements are untrue.

     "Under GAAP accounting rules, there is no question that both
Fannie and Freddie were in full compliance with capital
requirements when they were forced into conservatorship. It was
only after the government seized control that it was able to order
them to book billions of noncash charges. Making them appear to be
insolvent, these cookie-jar accounting entries ultimately required
the companies to issue Treasury preferred stock bearing a 10%
dividend.

     "By summer 2012, the write-downs had to be written back up.
Treasury changed the rate to 100% of the companies’ net worth.
Effectively nationalized, a White House official confirmed as much,
stating they were not going to be allowed to 'repay their debt and
escape.' The government has now collected $100 billion more than it
advanced—money which would easily remedy Mr. Calabria’s
concerns about capital.

     "On Sept. 3, 2008, Reuters reported the two companies had
raised $6 billion of unsecured debt in an oversubscribed offering.
And three days later in 'U.S. Near Deal on Fannie, Freddie' the
Journal said: 'Despite turmoil in their shares, Fannie and Freddie
have had little or no difficulty selling or rolling over their
senior debt.'"

           Gary E. Hindes
           Centreville, Del.

Mr. Hindes is chairman of the Delaware Bay Company, LLC, a
long-term shareholder of Fannie Mae and Freddie Mac.


FLORIDA REO: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of Florida Reo Properties, LLC, according to court
dockets.
    
                   About Florida Reo Properties
  
Florida Reo Properties, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-13446) on April
12, 2021.  At the time of the filing, the Debtor had between
$500,001 and $1 million in both assets and liabilities.  Judge A.
Jay Cristol oversees the case.  Robert Pereda, Esq., at Miami
Bankruptcy Group is the Debtor's legal counsel.


FMC TECHNOLOGIES: Egan-Jones Keeps B+ Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by FMC Technologies, Inc.

Headquartered in Houston, Texas, FMC Technologies, Inc. provides
oilfield services and equipment.



FRIENDS OF CITRUS: Files Modifications to Chapter 11 Plan
---------------------------------------------------------
Friends of Citrus And The Nature Coast, Inc., f/k/a Hospice of
Citrus County, filed certain modifications to its Chapter 11 Plan
of Reorganization with the Bankruptcy Court on May 14, 2021.

Distributions to the holders of Allowed Claims shall be made from
Available Cash, any amount returned to Debtor from the Vitas Escrow
and, if the full 13% Distribution is not made on the Effective
Date, the balance from cash generated by the Debtor's non-profit
operation over 60-months in equal monthly installments.

Vitas Escrow is that portion of the Vitas Sale purchase price
currently held in escrow by Fifth Third Bank, as escrow agent.  The
Debtor sold to Vitas Florida, Inc. for $11,000,000 certain assets
pertaining to the Debtor's direct patient care operations as a
hospice provider.  Fifth Third Bank, as escrow agent, would be paid
$1,300,000 of the Vitas Sale purchase price, plus interest.

The Modifications to the Plan provide that:

  a. the United States government's three Classes of Claims
(Classes 3, 4 ad 5) in the aggregate, be divided up by the various
government agencies in its own discretion of deferred cash payments
of $800,000 over 6 years from the Effective Date of the Plan and,
due upon recovery, a 15% share of any recovery from the litigation
with Vitas.  Vitas Healthcare Corporation of Florida is the
purchaser of certain assets of the Debtor's direct patient care
operations as a hospice provider for a purchase price of
$11,000,000.  

    * Class 3 Claims are Unsecured Government IRO Claim arising
from a five-year Corporate Integrity Agreement between HHS-OIG and
the Debtor for $1,477,789.

    * Class 4 Claims are Allowed General Unsecured CMS Final Cost
Report PIP Claim arising from a Medicare overpayment amount for
$177,378.

    * Class 5 consists of Allowed General Unsecured DOJ Settlement
Claim arising from the Settlement Agreement and Supplemental
Agreement Addendum for $2,118,541.

  b. Class 6 consists of Allowed General Unsecured Riverwood
(Greystone) Claim arising from services rendered by the Riverwood
nursing home for room and board retroactive Medicaid reimbursement
for the Debtor's hospice patients for $74,978.  This Allowed
General Unsecured Claim shall receive a 13% percent Distribution,
or approximately $9,747 to be paid pro-rata with all other classes
from Available Cash on the Effective Date.

  c. Class 7 consists of Allowed General Unsecured Citrus Hills
(Greystone) Claim arising from services rendered by the Citrus
Hills nursing home for room and board retroactive Medicaid
reimbursement for the Debtor's hospice patients for $208,039.  This
Allowed General Unsecured Claim shall receive a 13% percent
distribution, or approximately $27,045, to be paid on the Effective
Date.

  d. Class 8 consists of Allowed General Unsecured Terrace Health
(Greystone) Claim arising from services rendered by the Terrace
Health nursing home for room and board retroactive Medicaid
reimbursement for the Debtor's hospice patients for $6,266.  This
Allowed General Unsecured Claim shall receive a 13% percent
distribution, or approximately $815, to be paid on the Effective
Date.

Classes 6, 7 and 8 were objected to and the parties entered into a
Plan Support Agreement reducing the claim amounts so that the
aggregate of all Greystone allowed claims would equal $50,000 in
consideration for which Riverwood would support approval of the
plan provided it is not receiving less than 75% of the allowed
aggregated Greystone claims.

Greystone is the purchaser of three nursing homes named Riverwood
Health NH, LLC; Citrus Hills NH, LLC; and Terrace Health NH, LLC
each having filed separate Proofs of Claim for (i) $74,978; (ii)
$208,039; and (iii) $6,266; respectively.

  e. Class 9 consists of Allowed General Unsecured Claims under
$1,000 that were listed on the Schedules E/F, or alternatively any
other Allowed Unsecured Claimant who elects to reduce its Allowed
Claim to $1,000 that has not been previously classified above,
which is estimated in a maximum aggregate approximate amount of
$6,000.  These Allowed General Unsecured Claims in Class 9 shall
receive a 50% percent Distribution, or approximately a combined
amount of $3,000 on the Effective Date of the Plan.”

  f. Class 10 consists of all Other Allowed Unsecured Claims above
$1,000 that were listed on Schedules E/F that has not been
previously classified, which is estimated in a maximum aggregate
approximate amount of $5,000. The Other Allowed Unsecured Claims in
this class shall receive a 13% percent Distribution, or
approximately maximum combined amount of $650 to be paid pro-rata
with all other classes from Available Cash on the Effective Date of
the Plan.”

A copy of the modifications to the Disclosure Statement, together
with a redline version of the Plan (as Exhibit 1) is available for
free at https://bit.ly/3hwz7TT from PacerMonitor.com.

                      About Friends of Citrus

Friends of Citrus And The Nature Coast, Inc. --
https://friendsofcitrus.org/ -- is a charitable organization
providing community grief support workshop for anyone who has
experienced a loss; telephone support; grief support resources for
all ages; educational materials for parents and teachers; and
children's grief support camps.

Friends of Citrus And The Nature Coast, Inc. filed a voluntary
petition in this Court for relief under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-03101) on Aug. 14,
2019.  On Aug. 15, 2019, the case was transferred to Tampa Division
and was assigned a new case number (Case No. 19-07720).

In the petition signed by Bonnie L. Saylor, chief executive
officer, Friends of Citrus estimated $7,510,918 in assets and
$5,283,937 in liabilities.

Judge Michael G. Williamson oversees the case.  Frank P. Terzo,
Esq. and Nicolette Corso Vilmos, Esq., at Nelson Mullins Broad and
Cassel serves as the Debtor's legal counsel.


FRONTIER COMMUNICATIONS: Faces FTC DSL Speed Misrepresentation Suit
-------------------------------------------------------------------
Law360 reports that the Federal Trade Commission slapped Frontier
Communications with a lawsuit on Wednesday, May 19m 2021, that
claims the telecom, which is freshly emerged from bankruptcy,
offers customers DSL internet service that is much slower than
advertised.

Joined by the states of Arizona, California, Indiana, Michigan,
North Carolina and Wisconsin, the FTC wrote in its California
federal court complaint that Frontier nationally advertised
internet speeds it is incapable of delivering.  And although it's
usually clear to sales representatives where Frontier can sell
internet and at what speeds, the lawsuit alleges that salespeople
still offered and sold speed tiers to customers.

                  About Frontier Communications

Frontier Communications Corporation (OTC: FTRCQ) offers a variety
of services to residential and business customers over its
fiber-optic and copper networks in 25 states, including video,
high-speed internet, advanced voice, and Frontier Secure®
digital protection solutions.  Frontier Business offers
communications solutions to small, medium, and enterprise
businesses.

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

Judge Robert D. Drain oversees the cases.

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

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


GARDA WORLD: Moody's Rates New $500MM Sr. Unsecured Notes 'Caa2'
----------------------------------------------------------------
Moody's Investors Service assigned a Caa2 rating to Garda World
Security Corporation's proposed new $500 million senior unsecured
notes due in 2029. The B3 corporate family rating, B3-PD
probability of default rating, B1 ratings on Garda World's existing
senior secured revolving credit facility, senior secured notes due
February 2027 and senior secured term loan and the Caa2 rating on
the senior unsecured notes due 2025 and 2027 remain unchanged. The
ratings outlook remains stable.

The net proceeds from the senior unsecured notes issuance will be
used to redeem the $175 million outstanding balance on Garda's
existing senior unsecured notes due 2025 with the remaining
proceeds held as cash for general corporate purposes and future
acquisitions. The transaction will increase Garda World's leverage
to 7.2x (from 6.5x as at FY2021 ended January 31).

Assignments:

Issuer: Garda World Security Corporation

Senior Unsecured Regular Bond/Debenture, Assigned Caa2 (LGD5)

RATINGS RATIONALE

Garda's B3 CFR is constrained by: (1) its debt-financed acquisition
strategy and Moody's expectation that leverage (adjusted
Debt/EBITDA) will be sustained at close to 7.0x through the next 12
to 18 months; (2) limited organic growth prospects in the cash
services business and low to moderate growth in the protective
services business; and (3) some reputational risk stemming from
protective services contracts in the Middle East and Africa.

The company benefits from: (1) strong market positions in both of
its segments, which provide competitive advantages in winning
contracts; (2) stable businesses with high contract renewal rates
and recurring revenue; and (3) good customer and geographic
diversity.

The stable outlook reflects Moody's expectation that the leverage
to be sustained close to 7x through the next 12 to 18 months as
Moody's believe the risk of levering up for a large acquisition in
this timeframe is low.

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

An upgrade of Garda's CFR to B2 would be considered if Garda
maintains good liquidity and sustains adjusted Debt/EBITDA below
6.0x (7.2x pro forma FY2022 post issuance of the new senior
unsecured notes) and EBITA/Interest above 2x (1.6x pro forma FY2022
post issuance). The rating could be downgraded to Caa1 if liquidity
worsens, possibly due to negative free cash flow generation on a
consistent basis or if adjusted Debt/EBITDA was sustained towards
8.0x (7.2x pro forma FY2022 post issuance) and EBITA/Interest below
1x (1.6x pro forma FY2022 post issuance).

Garda has good liquidity. Sources are approximately $600 million
compared to mandatory debt repayments of about $10 million for the
next 4 quarters. Garda's liquidity is supported by approximately
$350 million of cash estimated at the time of closing of the new
issuance, Moody's expected free cash flow of approximately $100
million for the next four quarters, and approximately $150 million
of revolver availability. Garda's $335 million revolver due in
October 2024 is subject to a springing covenant for net first lien
leverage and Moody's expect cushion of about 50% through the next 4
quarters should the springing covenant come into effect. Garda has
limited ability to generate liquidity from asset sales. The company
will not have any significant debt maturities until 2024 when the
revolver facility comes due.

Garda's exposure to social risks is moderate due to its operations
in the Middle East and Africa where it is performing protective
security services in elevated risk areas for high profile clients
such as western governments and embassies. As a significant portion
of the contracts are with government entities, Garda is exposed to
potential reputational risk for security incidents which could lead
to a decrease in security services contracts.

Governance considerations include the private-equity ownership and
the potential for an aggressive capital structure in comparison to
public corporations. Moody's also considered Garda's track record
of debt-financed acquisitions which could lead to elevated leverage
on a sustained basis.

The B1 ratings on the senior secured notes, revolver and term loan
are two notches above the CFR due to the senior debt's first
priority access to substantially all of the company's assets as
well as loss absorption cushion provided by the senior unsecured
notes. The Caa2 rating on the senior unsecured notes is two notches
below the CFR due to the senior unsecured notes' junior position in
the debt capital structure.

The principal methodology used in this rating was Business and
Consumer Service Industry published in October 2016.

Garda World Security Corporation, headquartered in Montreal,
Quebec, is a provider of cash services in North America (including
armored cars), protective services in Canada and US (including
airport pre-board screening at 28 of Canada's airports) and
international protective services in the Middle East and Africa.


GLOBAL INFRASTRUCTURE: Moody's Assigns Ba3 CFR, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service assigns Ba3 Corporate Financial Rating to
Global Infrastructure Solutions Inc. (GISI), a Ba3-PD Probability
of Default and B1 to the company's new $400 million 8 year senior
unsecured notes. Proceeds of the notes are expected to be used for
general corporate purposes including liquidity to support organic
and inorganic growth. The assigned ratings are subject to final
documentation. The outlook on the ratings is stable.

Assignments:

Issuer: Global Infrastructure Solutions Inc.

Corporate Family Rating, Assigned Ba3

Probability of Default Rating, Assigned Ba3-PD

Senior Unsecured Regular Bond/Debenture, Assigned B1

Outlook Actions:

Issuer: Global Infrastructure Solutions Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

The credit profile is supported by an experienced management team
and strong market positions across the company's project portfolio
that is increasingly diversified by end markets and geography
predominantly within the US. The company has a $12.2 billion
backlog of projects, contributing to good earnings visibility and
accounting for nearly three-quarters of 2021 projected revenues,
mostly with repeat customers, which tend to be well recognized
Fortune 500 firms, large educational and other institutions, a
diversified group of public agencies and other regional customers.

The balance sheet is conservatively managed with roughly $584
million in pro forma total debt, and $938 million in pro forma
cash, resulting in net and gross leverage ratios of -1.9x and 3.1x,
respectively. Moody's expects the company to target gross leverage
of 2.0x or better overtime, with free cash flow and balance sheet
cash expected to be used to support the company's inorganic growth
strategy. The $400 million bond issue takes advantage of the
current low interest rate environment to establish liquidity for
future M&A and organic growth activity.

Weaknesses or risks in the credit profile includes a priority focus
on M&A to drive growth, very modest margins in the construction
service platform, which accounted for roughly 98% of 2020 reported
revenues and 78% of gross profit, and a focus on returning cash to
shareholders through dividends, and share repurchases, the latter
consisting of amounts that can be significant and with total annual
amounts not predictable by management.

Other weaknesses in the credit stem from fixed-price and lump sum
contracts that can contribute to individual project losses and
profit variability, although margins have been stable and the
company manages these risks through use of subcontractors, which
are prequalified and monitored and where it has strong
relationships, and a focus on smaller, lower risk corporate
interior and, increasingly, public works projects.

Heavy emphasis on smaller projects reduces risks compared with
larger projects or the risk that any one project disproportionately
impacts earnings. Less than one third of projects by revenue are
over $100 million in contract size. Roughly 83% of projects, by
project count, are smaller than $5 million in size, supporting low
portfolio risk, but these projects contribute only 15% to revenues,
weighing on total gross and EBITDA margins, which are a very modest
at roughly 4.5% and 2.2%, respectively.

Inorganic growth contributes to portfolio de-risking by expanding
and diversifying the portfolio by geography, end market and
customer mix. But the strategy comes with risks if the scale and
pace distract management focus, cause assimilation issues or higher
costs, or result in higher financial risk linked to balance sheet
leverage or liquidity weakness.

M&A in recent years has improved geographic diversity in NA with
projects outside the Northeast accounting for about 56% of revenues
compared to 18 % just four years ago. M&A has also improved end
market diversification, which, combined with a heavy concentration
of 35% of projects in corporate interiors, help contain risk in the
project portfolio. Moreover, roughly 26% of the portfolio is in
public work projects in government, education, and healthcare,
which could benefit from increased infrastructure spending.

GISI has grown quickly since 2017 mainly through six merger
transactions increasing revenues from $3.3 billion to $7.7 billion
in 2020, or a 33% revenue CAGR. In 2019 and 2020 the company
completed four mergers, accounting for more than half of 2020
revenues. Mergers are financed on average with 30% GISI equity and
70% in cash, typically leaving management and key employees in
place and incentivized with equity as owners of the merged entity.

The Construction Service platform reported roughly $7.7 billion in
2020 revenues serving the corporate interior, industrial,
healthcare, government, hospitality, education, housing, data
centers and life science sectors. Project risks reflect the use of
lump sum and guaranteed maximum price contracts, but risks are
reduced through the use of subcontractors who essentially bear
construction and completion risk. The use of reimbursable cost and
cost-plus contracts also help mitigate risk in this platform. The
use of subcontractors helps minimize portfolio risk, but also
results in modest margins. The top 10 customers in this platform
accounted for about one-third of 2020 revenues.

The Global Engineering and Consulting Services platform, which
consists of the New York based engineering and consulting business
that joined GISI in October 2020, accounts for $396 million in 2020
revenues on a pro forma basis, or about 5% of pro forma revenues,
but generated $89 million in gross profit, or 22% of the total with
a stronger gross margin of 22%. The stronger margin reflects the
use of primarily fee-based agreements with focus on engineering and
architectural design, construction management and inspection,
environmental consulting and surveying.

ESG Considerations

Environmental and social considerations are not considered material
to the overall credit profile of GISI. Moody's believes the
engineering, design, planning and construction sector has moderate
social risks and low environmental risks. Social risks include
ensuring the health and safety of employees at high-risk work
sites, as well as the company's ability to recruit and retain
specialized talent, which is critical to completing projects on
time and under budget.

GISI has low exposure to environmental risks since the construction
sector is not a material direct source of pollution or carbon
emissions. It does have some indirect exposure to land use
restrictions and carbon-emitting industries, and environmental
regulations could increase the cost of construction projects, but
the additional costs are typically borne by the customer.

GISI' governance issues reflect its private status and 100% insider
ownership with a strong shareholder focus manifested in an
inorganic growth focus and regular returns to shareholders though
dividends and share repurchases. This approach is roughly balanced
with conservative balance sheet objectives where the company
targets gross leverage of 2.0x or better. The $400 million bond
issue takes advantage of the current low interest rate environment
to establish liquidity for future M&A and organic activity.

Liquidity

GISI's current strong liquidity reflects the pro forma large cash
balance of $938 million and the unused portion of a proposed new
$250 million revolving credit facility, which is expected to be $34
million drawn at closing. Concurrent with this bond offering, the
company is in the process of putting in place a $400 million senior
secured credit facility consisting of a new $150 million term loan
and a $250 million revolving credit facility, both maturing in
2026. The revolver includes a $100 million standby line for Letters
of credit.

The Credit facility includes an accordion feature that can be used
to increase the revolver and/or TL by the greater of $200 million
or an amount equal to 100% of EBITDA. Borrowings are secured by
substantially all the assets of the Company and the equity of
subsidiaries. The closing of the credit facility is conditioned on
the successful completion of the $400 million bond offering rated.

The revolver and term loan covenants include a maximum net leverage
ratio of 3.25x and minimum interest coverage of 1.25x. The
numerator of the net leverage ratio includes consolidated debt
minus unencumbered cash of no greater than $125 million. Restricted
payments are permitted only if PF net leverage is less than 2.75x,
the FCCR is greater than 1.5x and liquidity exceeds $175 million;
plus an additional RP basket for dividends up to the greater of $50
million or 25% of EBITDA. We expect the company to remain in
compliance with the leverage and interest coverage requirements.

The stable outlook assumes the company continues to adhere to its
balance sheet targets and FFO/TD continues to exceed 25%, while
gross profit margins remain at least stable. The stable outlook
also anticipates the robust pace of M&A activity and revenue growth
occurs without business, profit or cash flow disruption and prices
paid for acquisitions remain reasonable.

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

Moody's is unlikely to consider a rating upgrade until there's
better clarity and a track record with respect the allocation of
large cash balances and M&A objectives. After that, Moody would
consider an upgrade if GISI achieves better revenue and EBITA
scale, further improves diversification, Debt /EBITDA is maintained
around 2x or better, and FFO/TD and FCF/TD improve to at least 30%,
and 10%, respectively, on a sustained basis.

Moody's would consider a downgrade if cash balances are reduced
without meaningful accretive profit growth, if EBITDA margins
exhibit volatility and fall below 4%, if FFO/TD and FCF/TD fall
below 20% and 5%, respectively, if Debt to EBITDA is sustained
above 3x, or if cash balances are consumed for shareholder
renumeration with only modest growth organically and
inorganically.

The principal methodology used in these ratings was Construction
Industry published in March 2017.

With operations headquartered in New York, NY, Global
Infrastructure Solutions Inc. (GISI) is a professional services
firm providing engineering & design, planning and construction
management services to the corporate interior, industrial,
healthcare, government, hospitality, education, housing, data
centers and life science sectors. Revenues are concentrated
domestically with 94% of 2020 revenues in the US and 6% in the UK,
Ireland, and Canada. About 44% of revenues are in the US Northeast.
The company operates under two business segments: Construction
Services (98% of fiscal 2020 reported revenue), and Global
Engineering and Consulting Services (2%). GISI generated about $7.7
billion of revenue in fiscal 2020 (ended December 31, 2020) and had
a backlog of $12.2 billion as of December 31, 2020.


GRAPHIC PACKAGING: Moody's Affirms Ba1 CFR on AR Packaging Deal
---------------------------------------------------------------
Moody's Investors Service affirmed the Ba1 corporate family rating
of Graphic Packaging International, LLC and the Ba1-PD probability
of default rating following the company's announcement that it has
entered a definitive agreement to acquire Sweden-based AR Packaging
Group AB for approximately $1.45 billion in cash from CVC Capital
Partners Fund VI. Moody's also affirmed all instruments ratings and
the SGL-2 speculative grade liquidity rating is unchanged. The
ratings outlook is stable.

Affirmations:

Issuer: Graphic Packaging International, LLC

Corporate Family Rating, Affirmed Ba1

Probability of Default Rating, Affirmed Ba1-PD

Gtd. Senior Secured Bank Credit Facility, Affirmed Baa3 (LGD2)

Gtd. Senior Secured Regular Bond/Debenture, Affirmed Baa3 (LGD2)

Gtd. Senior Unsecured Regular Bond/Debenture, Affirmed Ba2 (LGD5)

Outlook Actions:

Issuer: Graphic Packaging International, LLC

Outlook, Remains Stable

RATINGS RATIONALE

The affirmation of the corporate family rating reflects Moody's
view that the acquisition will further strengthen Graphic
Packaging's scale and diversity by expanding its converting
operation in Europe, while adding new end markets, such as health
and beauty and pharmaceuticals, and some historically faster
growing regions, such as central and eastern Europe. Graphic
Packaging said the acquisition will add roughly $1.1 billion in
sales and $160 million of annual adjusted EBITDA and $40 million of
synergies over a three year period. Pro forma for acquisition of AR
Packaging and Americraft Carton, Inc. announced in April, sales
will increase to $7.9 billion from $6.6 billion in the twelve
months ended March 31, 2021. The combined company would continue to
benefit from high concentration in stable food and beverage end
markets (59% of pro forma sales vs 60% currently, marginally
reducing exposure to pandemic-impacted foodservice segment (17% pro
forma vs 20% current), and adding 4% from health and beauty
segments. There is little customer or facility overlap and the
company expects to generate cost improvements from better
procurement and production and freight optimization while also
benefiting from the target company's organic growth driven by
demand for sustainable packaging. Graphic Packaging expects the
transaction to close in four to six months, subject to shareholder
and regulatory approvals.

The fully debt-funded transaction will increase Graphic Packaging's
leverage. Pro forma for acquisition of AR Packaging and Americraft
Carton, Inc., Graphic Packaging's debt/EBITDA as adjusted by
Moody's and excluding synergies will increase to approximately 4.5x
in the twelve months ended March 31, 2020 from 3.7x. Moody's expect
the company to lower leverage below the downgrade trigger of 4x in
2022 and further reduce debt/EBITDA close to 3.5x in 2023 after it
completes its current heavy capital investment cycle. The rating
incorporates Moody's expectations that the Kalamazoo paper machine
investment will be largely completed this year and successfully
started up in the fourth quarter of 2021. The rating also
incorporates the expectation that the company will direct free cash
flow to debt paydown. Moody's expect the company to suspend share
repurchases until net leverage returns within its target levels of
2.5x-3x. Moody's expect the company to redeem the remaining
International Paper outstanding partnership units (worth
approximately $418 million based on May 15 market close) with
shares. The credit profile is constrained by expectations of
continued acquisitions to supplement organic growth to reach its
target of $10 billion in sales by 2025.

Moody's views the current management team as experienced in
integrating acquisitions, however, the AR Packaging transaction is
sizeable and the target company has also grown through multiple
acquisitions, which could increase the integration risk. In
addition, the acquired company has lower margins of about 14.5%
than Graphic Packaging's approximately 17% on a Moody's adjusted
basis and some of its segments, such as health and beauty are more
cyclical than Graphic Packaging's core food and beverage end
markets. AR Packaging also makes tobacco packaging, which is in
secular decline in developed markets. The acquisition will not
immediately increase Graphic's paperboard integration, but the
company expects to grow its paperboard sales in Europe over time
and offer more sustainable packaging options to its customers.

The stable ratings outlook reflects the expectation that Graphic
Packaging's legacy business will generate stronger earnings in 2021
and that the company will successfully complete its major capital
project, integrate its acquisitions and start paying down debt in
2022.

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

An upgrade is unlikely in the near-term, given the need to
integrate a large-debt financed acquisition and pay down debt,
while pursuing stated growth targets. For the ratings to be
upgraded to the investment grade level, the company's management
would need to publicly commit to maintaining investment-grade
financial policies and achieve an unsecured capital structure. The
company would also need to maintain debt/EBITDA below 3.0x,
maintain EBITDA margin above 16% and retained cash flow to debt
above 20%.

The ratings could be downgraded if operating performance and credit
metrics deteriorate such as debt/EBITDA rising to 4.0x and retained
cash flow to debt falls below 15% (on sustained basis). The ratings
could also be downgraded if the Kalamazoo machine investment
encounters significant cost overruns or delays and realized EBITDA
and synergies from the AR packaging acquisition are significantly
below the company's expectations. Another large debt-financed
acquisition or large share repurchases before the company starts
paying down debt could also lead to a downgrade.

Graphic Packaging's SGL-2 speculative grade liquidity rating
indicates good liquidity. The company maintains low cash balances
and relies on internally generated cash and a large revolver for
its liquidity. Graphic Packaging had approximately $116 million of
cash on hand as of March 31, 2021, and the company generates over
$1 billion of EBITDA. The largest use of cash in 2021 is capital
expenditures of $700 million, which are expected to decline to $450
million in 2022, contributing to projected free cash flow
improvement. The company does not expect to be a meaningful U.S.
federal cash taxpayer until 2024 due to available net operating
losses, other tax attributes, tax benefits associated with planned
capital projects and the anticipated reduction in IP's investment
in the partnership. The company had almost all availability under
its recently increased and extended $1.85 billion US revolving
facility. The company also could borrow approximately $200 million
under its euro and Japanese yen facilities. The revolver matures on
April 1, 2026.

The company's credit agreement has a total leverage ratio covenant
of 4.25x as well as an interest coverage covenant of 3.0x. The
leverage covenant steps up to 4.75x for four quarters for an
allowed acquisition, so long as there is at least one quarter
between four quarter periods when leverage does not exceed 4.25x.
Moody's expects the company will remain in compliance with its debt
covenants over the next 12 months, as the covenant definition
allows to add last 12 months of acquired EBITDA and projected
synergies. Graphic Packaging also uses various receivables
securitization arrangements to fund working capital.

As a manufacturing company, Graphic Packaging is moderately exposed
to environmental risks such as air and water emissions, and social
risks such as labor relations and health and safety issues. The
company has established expertise in complying with these risks and
has incorporated procedures to address them in their operational
planning and business models. As a manufacturer of virgin and
recycled paper packaging products, Graphic Packaging benefits from
expected growth driven by substitution to fiber-based from plastic
packaging.

Headquartered in Atlanta, GA, Graphic Packaging is one of North
America's leading manufacturers of CUK, CRB and SBS paperboard
packaging for food, food service, beverages and consumer goods.
Graphic Packaging generated sales of approximately $6.6 billion for
the twelve months ended March 31, 2020.

The principal methodology used in these ratings was Paper and
Forest Products Industry published in October 2018.


GROM SOCIAL: Effects 1-for-32 Reverse Common Stock Split
--------------------------------------------------------
Grom Social Enterprises, Inc. filed a Certificate of Amendment to
the Company's Articles of Incorporation, as previously amended,
with the Secretary of State of the State of Florida, to effect a
reverse stock split of the Company's common stock, $0.001 par value
per shar, at a rate of 1-for-32, effective as of May 13, 2021.

As previously reported, on Sept. 14, 2020, the Company's board of
directors approved, and on Sept. 16, 2020, shareholders holding
approximately 71.7% of the Company's voting power, approved, by
written consent, the granting of authority to the Board to amend
the Company's Articles of Incorporation to effect a reverse stock
split of the issued and outstanding shares of the Company's Common
Stock, by a ratio of not less than 1-for-2 and not more than
1-for-25, with the exact ratio to be determined by the Board in its
sole discretion.  As also previously reported, on April 7, 2021,
the Company's Board approved, and on April 8, 2021, shareholders
holding approximately 81.2% of the Company's voting power,
approved, by written consent, an increase to the range of the ratio
for the reverse stock split to a ratio of not less than 1-for-2 and
not more than 1-for-50.  On May 6, 2021, the Board (a) determined
that, based upon the market price of the Company's Common Stock,
and with the intention to move forward with the Company's listing
on the Nasdaq Capital Market, it would be appropriate for the
reverse split to be at a ratio of 1-for-32, and (b) authorized the
Company to file the Certificate of Amendment to implement the
Reverse Stock Split, to be effective as of May 13, 2021.

On May 13, 2021, upon effectiveness of the Reverse Stock Split,
every 32 outstanding shares of the Company's Common Stock were,
without any further action by the Company, or any holder thereof,
converted into, and automatically became, one share of the
Company's Common Stock.  No fractional shares were issued as a
result of the Reverse Stock Split.  In lieu thereof, fractional
shares were rounded up to the nearest whole share.  All shares of
Common Stock eliminated as a result of the Reverse Stock Split have
been cancelled and returned to the Company's authorized and
unissued Common Stock, and the Company's capital has been reduced
by an amount equal to the par value of the shares of Common Stock
so retired.

Prior to the filing of the Certificate of Amendment, the Company
had 500,000,000 shares of Common Stock authorized, out of which
192,355,783 shares were issued and outstanding.  As a result of the
filing of the Certificate of Amendment, and resulting effectiveness
of the Reverse Stock Split, the 192,355,783 shares of the Company's
Common Stock issued and outstanding immediately prior to the
Reverse Stock Split were converted into approximately 6,011,119
shares of the Company's Common Stock.  The Reverse Stock Split did
not change the Company's current authorized number of shares of
Common Stock, or its par value.  The Reverse Stock Split also did
not change the Company's authorized, or issued and outstanding,
number of shares of preferred stock, or its par value.

Except for de minimus adjustments that resulted from the treatment
of fractional shares, the Reverse Stock Split did not have any
dilutive effect on the Company's shareholders, since each
shareholder holds the same percentage of the Company's Common Stock
outstanding immediately following the Reverse Stock Split as such
stockholder held immediately prior to the Reverse Stock Split.

As a result of the Reverse Stock Split, the number of shares of the
Company's Common Stock that may be purchased upon exercise of
outstanding warrants, options, or other securities convertible
into, or exercisable or exchangeable for, shares of the Company's
Common Stock, and the exercise or conversion prices for these
securities, have also be ratably adjusted in accordance with their
terms.

The Company's Common Stock continues to trade on a pre-split basis
in the over-the-counter market, even though the Reverse Stock Split
was effective on May 13, 2021.  On May 17, 2021, the Financial
Industry Regulatory Authority notified the Company that the Reverse
Stock Split would take effect in the over-the-counter market at the
start of business on May 19, 2021.  At the open of trading on May
19, 2021, its trading symbol will change from "GRMM" to "GRMMD."
The "D" will be removed 20 business days after the split becomes
effective in the market.

The Company currently anticipates that its shares of Common Stock
will begin trading on the Nasdaq Capital Market under the symbol
"GROM" on May 20, 2021, subject to obtaining requisite approval
from The Nasdaq Stock Market LLC.

                         About Grom Social

Boca Raton, Florida-based Grom Social Enterprises, Inc. --
www.gromsocial.com -- is a media, technology and entertainment
company focused on delivering content to children under the age of
13 years in a safe secure Children's Online Privacy Protection Act
("COPPA") compliant platform that can be monitored by parents or
guardians.  The Company operates its business through the following
four wholly-owned subsidiaries: Grom Social, Inc., TD Holdings
Limited, Grom Educational Services, Inc. , and Grom Nutritional
Services, Inc.

Grom Social reported a net loss of $5.74 million for the year ended
Dec. 31, 2020, compared to a net loss of $4.59 million for the year
ended Dec. 31, 2019.  As of March 31, 2021, the Company had $17.51
million in total assets, $6.77 million in total liabilities, and
$10.74 million in total stockholders' equity.

BF Borgers CPA PC, in Lakewood, Colorado, the Company's auditor
since 2015, issued a "going concern" qualification in its report
dated April 13, 2021, citing that the Company has incurred
significant operating losses since inception and has a working
capital deficit which raises substantial doubt about its ability to
continue as a going concern.


GROM SOCIAL: Incurs $2.3 Million Net Loss in First Quarter
----------------------------------------------------------
Grom Social Enterprises, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $2.32 million on $1.88 million of sales for the three
months ended March 31, 2021, compared to a net loss of $1.35
million on $1.29 million of sales for the three months ended March
31, 2020.

As of March 31, 2021, the Company had $17.51 million in total
assets, $6.77 million in total liabilities, and $10.74 million in
total stockholders' equity.

At March 31, 2021, the Company had cash and cash equivalents of
$581,950.

Net cash used in operating activities for the three months ended
March 31, 2021 was $988,573, compared to net cash used in operating
activities of $244,122 during the three months ended March 31,
2020, representing an increase in cash used of $744,461, primarily
due to the change in operating assets and liabilities.

Net cash used in investing activities for the three months ended
March 31, 20201 was $2,391, compared to net cash used in investing
activities of $15,267 during the three months ended March 31, 2020
representing a decrease in cash used of $12,876.  This change is
attributable to a decrease in the amount of fixed assets purchased
and/or leasehold improvements made by our animation studio in
Manilla, Philippines during the three months ended March 31, 2021.

Net cash provided by financing activities for the three months
ended March 31, 2021 was $1,433,438, compared to net cash provided
by financing activities of $576,143 for the three months ended
March 31, 2020, representing an increase in cash provided of
$857,295.  The Comopany's primary sources of cash from financing
activities were attributable to $666,500 in proceeds from the sale
of 8% - 12% convertible notes and $950,000 in proceeds from the
sale of the Company's Series B Stock during the three months ended
March 31, 2021, as compared to $3,655,000 in proceeds from the sale
of 12% senior secured convertible notes during the three months
ended March 31, 2020.  On March 16, 2020, the Company repaid
$3,000,000 in principal due to the former shareholders of TD
Holdings Limited on a convertible note originally dated September
20, 2016.

Grom Social said, "We currently have a monthly consolidated cash
operating loss ranging between $100,000 to $150,000, or
approximately $1,200,000 to $1,800,000 annually.  In order to fund
our operations for the next twelve months, we believe that we will
need to raise $2,000,000.  Historically, we have funded our
operations through sales of equity, debt issuances and officer
loans.  We currently have no commitment from any investment banker
or other traditional funding sources and no definitive agreement
with any third party to provide us with financing, either debt or
equity, and there can be no assurances that we will be able to
raise additional funds, or if we are successful, on favorable
terms. Future equity sales may result in dilution to current
shareholders and debt may have negative covenants.  In addition,
the COVID-19 pandemic has had and may continue to have an adverse
effect on the capital markets and our ability to raise additional
funding.  The failure to obtain the financing necessary to allow us
to continue to implement our business plan will have a significant
negative impact on our anticipated results of operations."
  
                           Going Concern

The Company added, "On a consolidated basis, we have incurred
significant operating losses since inception.  Because we do not
expect that existing operational cash flow will be sufficient to
fund presently anticipated operations, this raises substantial
doubt about our ability to continue as a going concern.  Therefore,
we will need to raise additional funds and are currently exploring
sources of financing.  Historically, we have raised capital through
private offerings of debt and equity and officer loans to finance
working capital needs.  There can be no assurances that we will be
able to continue to raise additional capital through the sale of
common stock or other securities or obtain short-term loans."

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

https://www.sec.gov/Archives/edgar/data/1662574/000168316821002065/grom_10q-033121.htm

                         About Grom Social

Boca Raton, Florida-based Grom Social Enterprises, Inc. --
www.gromsocial.com -- is a media, technology and entertainment
company focused on delivering content to children under the age of
13 years in a safe secure Children's Online Privacy Protection Act
("COPPA") compliant platform that can be monitored by parents or
guardians.  The Company operates its business through the following
four wholly-owned subsidiaries: Grom Social, Inc., TD Holdings
Limited, Grom Educational Services, Inc. , and Grom Nutritional
Services, Inc.

Grom Social reported a net loss of $5.74 million for the year ended
Dec. 31, 2020, compared to a net loss of $4.59 million for the year
ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $17.26
million in total assets, $8.67 million in total liabilities, and
$8.59 million in total stockholders' equity.

BF Borgers CPA PC, in Lakewood, Colorado, the Company's auditor
since 2015, issued a "going concern" qualification in its report
dated April 13, 2021, citing that the Company has incurred
significant operating losses since inception and has a working
capital deficit which raises substantial doubt about its ability to
continue as a going concern.


GUARDION HEALTH: Incurs $2.7 Million Net Loss in First Quarter
--------------------------------------------------------------
Guardion Health Sciences, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $2.67 million on $233,297 of total revenue for the
three months ended March 31, 2021, compared to a net loss of $2.35
million on $245,723 of total revenue for the three months ended
March 31, 2020.

As of March 31, 2021, the Company had $44.70 million in total
assets, $1.21 million in total liabilities, and $43.49 million in
total stockholders' equity.

Since its formation in 2009, the Company has devoted substantial
effort and capital resources to the development and
commercialization activities related to its product candidates.
For the three months ended March 31, 2021, the Company used cash in
operating activities of $2,420,070.  At March 31, 2021, the Company
had cash on hand of $43,329,674 and working capital of $43,012,927.
Notwithstanding the net loss for the first quarter of 2021,
management believes that its current cash balance is sufficient to
fund operations for at least the next twelve months.

"The Company's financing has historically come primarily from the
issuance of convertible notes, promissory notes and from the sale
of common and preferred stock.  The Company will continue to incur
significant expenses for continued commercialization activities
related to its medical foods, medical devices and its
nutraceuticals product line, and building its infrastructure.
Development and commercialization of medical foods, medical devices
and nutraceuticals involves a lengthy and complex process.
Additionally, the Company's long-term viability and growth may
depend upon the successful development and commercialization of new
complementary products or product lines," Guardion said.

"The Company may continue to seek to raise additional debt and/or
equity capital to fund future operations and acquisitions as
necessary, but there can be no assurances that the Company will be
able to secure such additional financing in the amounts necessary
to fully fund its operating requirements on acceptable terms or at
all. Over time, if the Company is unable to access sufficient
capital resources on a timely basis, the Company may be forced to
reduce or discontinue its technology and product development
programs and curtail or cease operations," Guardion said.

                      Management Commentary

Bret Scholtes, Guardion's president and chief executive officer,
commented, "I joined Guardion as CEO in early January 2021.  During
the first quarter of 2021, I am pleased that we were able to
implement and complete several major initiatives.  Of particular
note, were able to accomplish Guardion's transition from financial
uncertainty to financial stability through the successful capital
raises.  We completed a reverse stock split to maintain our listing
on the Nasdaq Capital Market."

"I am excited for the future and the role we can play in addressing
the health needs of consumers.  Our strategy is to build Guardion
into a leading clinical nutrition company, with the objective that
Guardion becomes a leader in our target markets.  We are also
continuing to assess and evaluate our business, core fundamentals
and capabilities, and market opportunities for the Company's
products and services."

"At certain stages of our lives, and as we age, our ability to
obtain essential nutrients from our diets, declines.  These
nutrients support critical metabolic pathways.  Our clinical
studies aim to demonstrate that the correct supply of these
nutrients can restore certain functions in the body.  The Centers
for Disease Control and Prevention estimates that approximately 12
million people 40 years of age in the United States have vision
impairment. The Company believes that specific and targeted
nutrition strategies can help to offset vision loss in many of
these eye conditions. Consumers with eye disease, as well as other
age-related conditions, represents significant and underserved
markets.  We utilize our understanding of particular markets and
our scientific knowledge to conduct clinical studies that
demonstrate the impact of clinical nutrition to help offset the
impact of these conditions, such as supporting visual function in
certain types of eye disease.  This type of investment underpins
our strategy of supporting our scientifically developed brands with
strong clinical evidence.  We can provide valuable and
differentiated solutions to healthcare professionals and their
patients that make meaningful contribution to the quality of
life."

"The process for creating long-term sustainable value involves
analyzing areas of consumer needs and interest, seeking out market
gaps, and then designing clinical studies to focus on these areas.
We are committed to developing brands and products that are
differentiated by science and can generate compelling product
claims, and then executing detailed marketing plans that implement
an omni-channel marketing and sales effort.  We are also in the
process of establishing our nascent brands and identifying core
customer bases where we can accelerate our marketing efforts once
our clinical support and scientific evidence is in place."

Mr. Scholtes concluded, "Over the long-term, the key to our success
will be our ability to create value for well-differentiated and
robust brands that are based on strong, clinically proven claims
that address consumer needs in growing markets, both domestically
and internationally.  We are committed to bringing compelling
products to market under these brands that are supported by strong
scientific evidence.  We appreciate the support of our shareholders
as we focus on the Company’s evolution during 2021."

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

https://www.sec.gov/Archives/edgar/data/1642375/000149315221011876/form10-q.htm

                  About Guardion Health Sciences

Headquartered in San Diego, California, Guardion --
http://www.guardionhealth.com-- is a specialty health sciences
company that develops clinically supported nutrition, medical foods
and medical devices, with a focus in the ocular health marketplace.
Located in San Diego, California, the Company combines targeted
nutrition with innovative, evidence-based diagnostic technology.

Guardion Health reported a net loss of $8.57 million for the year
ended Dec. 31, 2020, compared to a net loss of $10.88 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$9.86 million in total assets, $1.34 million in total liabilities,
and $8.51 million in total stockholders' equity.


HEARTWISE INC: Seeks Sept. 30 Solicitation Exclusivity Extension
----------------------------------------------------------------
Debtor Heartwise, Inc. requests the U.S. Bankruptcy Court for the
Central District of California, Santa Ana Division to extend the
exclusive period during which the Debtor may solicit acceptances of
the Plan through and including September 30, 2021.

The Court continued the hearing on the First Amended Disclosure
Statement to July 14, 2021, to provide parties with an opportunity
to review and comment on the First Amended Disclosure Statement.

The Debtor's case is not small, with their gross income in 2020
exceeding $26.5 million. Also, it has claims scheduled, filed, and
accrued against it exceeding $16 million. No less than sixteen
lawyers have appeared in this matter, and there are a total of 227
docket entries in this case. The Debtor is also in the process of
objecting to a claim and adversary action filed by an insider.

The Debtor says that it has made good faith efforts towards exiting
this case. The Debtor filed the Plan well in advance of the
expiration of the 120-day period of exclusivity, and that Plan will
pay all creditors in full. The Plan is the culmination of a series
of negotiations with certain parties, represents months of work,
and the result of several iterations. The Debtor fully intends on
confirming the Plan and paying its creditors in full. The Debtor is
paying its bills as they come due except for its attorney's fees.

As to negotiations with creditors, the only party that has filed a
claim in the case or that is scheduled by the Debtor, and that is
not provided for under the Plan is DavidPaul Doyle. DavidPaul Doyle
is an equity holder that can remain an equity holder through a
contribution to the Plan. The Debtor is currently working on an
objection to Claim No. 6 and the Adversary Action, which the Debtor
fully believes will be resolved in a summary fashion.

This case is still fairly new, with only five months have passed
since the Petition Date. If the Debtor can obtain approval of the
Disclosure Statement in July, this matter will be set to exit
bankruptcy well within a year from the date the case was filed,
since the Debtor has wasted no time advancing this matter.

The requested exclusivity is not based on a desire to pressure
creditors. However, what exclusivity does do is prevent Doyle and
Vitamins Online, Inc. from further complicating and delaying this
matter. Vitamins Online, Inc. is being paid in full under the Plan,
and so its efforts in the case at this juncture are baffling. But
Doyle is not, and has never been a creditor of the Debtor.

The Debtor believes his efforts are desperate attempts at leverage.
Doyle's valuations of the Debtor have no basis in fact, and his
intentions in this case at this point are to derail the
confirmation process in the hopes that Earnesty, LLC will pay him
holdup value. The Debtor hopes that both equity holders emerge with
their equity interests through the new value contribution required
to confirm the Plan. But it cannot delay, risk, or forego
confirmation so that any of its equity holders can seek to exert
leverage over the other, all at the expense of creditors. Either or
both Vitamins Online and Doyle may use the expiration of
exclusivity to attempt to file competing plans to further delay,
destroying the Debtor's attempts to exit bankruptcy.

The Debtor is moving as fast as it can to confirm the Plan. Without
an extension, it could lead to other competing plans being filed,
which would increase greatly the costs of this case. The Debtor
also believes that it will substantially destroy their value,
resulting in further delays in paying the creditors and their exit
from bankruptcy.

The exclusive period for the Debtor to solicit acceptances of the
Plan will expire on June 2, 2021. As noted, the Disclosure
Statement has been continued until July 14, 2021, and the Debtor
will be unable to solicit acceptances of the Plan until after its
period of exclusivity tolls.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/2RqSC5z from PacerMonitor.com.

                             About Heartwise Inc.

Heartwise Incorporation -- https://www.naturewise.com/ -- is a
retail store that sells wellness and health-related supplements.

Heartwise filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 20-13335) on
December 4, 2020. Tuong V. Nguyen, chief executive officer, signed
the petition. In its petition, the Debtor disclosed $7,653,717 in
assets and $12,030,563 in liabilities.

Judge Mark S. Wallace oversees the case.

The Law Offices of Michael Jay Berger and Trojan Law Offices serve
as the Debtor's bankruptcy counsel and special counsel,
respectively.


HELIX ENERGY: Egan-Jones Keeps B- Senior Unsecured Ratings
----------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'B-'
foreign currency and local currency senior unsecured ratings on
debt issued by Helix Energy Solutions Group, Inc. EJR also
maintained its 'B' rating on commercial paper issued by the
Company.

Headquartered in Houston, Texas, Helix Energy Solutions Group, Inc.
is a marine contractor and operator of offshore oil and gas
properties and production facilities.



HERTZ CORP: Plan Confirmation Hearing Set for June 10
-----------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware scheduled a hearing on June 10, 2021, at 10:30
a.m. (prevailing Eastern Time) to consider confirmation of Fourth
Modified Second Amended Joint Chapter 11 plan of reorganization
filed by The Hertz Corporation and its debtor-affiliates.
Objections to the Chapter 11 plan, if any, must be filed on June 1,
2021 at 4:00 p.m. (prevailing Eastern Time).

On April 22, 2021, the Debtor filed a Fourth Modified Second
Amended Joint Chapter 11 plan of reorganization and disclosure
statement for the modified second amended joint Chapter 11 plan.
The Court approved the adequacy of the disclosure statement, which
authorizes the Debtor to solicit votes to accept or reject the
Debtors' Chapter 11 plan.

Deadline to vote to accept or reject the Debtors' Chapter 11 plan
is on June 1, 2021 at 4:00 p.m. (prevailing Eastern Time).

                         About Hertz Corp.

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

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

Judge Mary F. Walrath oversees the cases.  

The Debtors have tapped White & Case LLP as their bankruptcy
counsel, Richards, Layton & Finger, P.A., as local counsel, Moelis
& Co. as investment banker, and FTI Consulting as financial
advisor.  The Debtors also retained the services of Boston
Consulting Group to assist the Debtors in the development of their
business plan.  Prime Clerk LLC is the claims agent.

The U.S. Trustee for Regions 3 and 9 appointed a Committee to
represent unsecured creditors in Debtors' Chapter 11 cases.  The
Committee has tapped Kramer Levin Naftalis & Frankel LLP as its
bankruptcy counsel, Benesch Friedlander Coplan & Aronoff LLP as
Delaware counsel, UBS Securities LLC as investment banker, and
Berkeley Research Group, LLC as financial advisor.  Ernst & Young
LLP provides audit and tax services to the Committee.


HERTZ GLOBAL: Shareholders May Get $8 Per Share as Deal Closes
--------------------------------------------------------------
CNBCTV18 reports that a bankruptcy court recently approved a
winning auction for Hertz to a group of institutional investors
after the auction for the control of the company heated up on
better future prospects. The car renter picked Knighthead Capital
Management and Certares Management to buy the company out of
Chapter 11.

The company's stock closed on $6.80 on May 14 this year and Hertz
says that it expects stockholders to receive as much as $8 a share
because of the deal.  That's nearly a 16 fold increase in the
stock's value since its lowest in a year.

Hertz's story began in an unusual way, with the company filing
Chapter 11 bankruptcy proceedings.  Amid the COVID-19 outbreak and
subsequent lockdown last year, the second-largest car rental
company in the US announced on April 30, 2020 that it had missed
lease payments on its fleet and was seeking the support of its
investors to avoid bankruptcy.

As a result of missed payments and following no agreement with its
top lenders, Hertz filed for Chapter 11 bankruptcy on May 20 last
year. Hertz had a cumulative debt of nearly $19 billion at that
point and a fleet of 700,000 vehicles. Chapter 11 bankruptcy
involves reorganisation of the business so that debts can be
settled while trying to keep the company alive. According to
experts, only one out 10 Chapter 11 bankruptcies manage to stay
afloat afterwards.

Many savvy investors unloaded the company's stocks as they were
soon deemed to be less than worthless.  Billionaire Carl Ichan was
one of them, as he offloaded almost 55 million shares of the
company suffering a loss of $2 billion in the process, according to
a CNN report.

However, even as many sophisticated investors and funds were
offloading, justifiably so as shareholders are the last people to
be paid back when a company goes under, many retail investors
jumped onto Hertz. Many short sellers rejoiced at first but that
quickly turned to abject horror as Hertz’s stock prices started
to rise. Some of them joined as a meme, some of them bought the
stock because they had different views of how the Chapter 11 filing
would play out. Hertz stocks rallied to $5.5 on June 8, against the
low of $0.56 in May 26, 2020.

Seeing the rally, Hertz had announced on June 11 it would raise up
to $1 billion by selling equity for its legal fees during the
bankruptcy process. The company even announced that there was a
"risk that the common stock could ultimately be worthless" but
still managed to raise up to $29 million before the Securities
Exchange Commission (SEC) stepped in and halted trading of the
stock on fears of a speculative bubble. The company’s stock was
finally delisted from the NYSE in October 2020.

Many said the company had managed to dupe retail traders and hobby
investors as the chances of them recovering any value on their
shares seemed non-existent. But it is these investors who are now
having the final laugh.

                    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



HOSPITALITY INVESTORS TRUST: Hits Chapter 11 Bankruptcy Protection
------------------------------------------------------------------
Jeremy Hill of Bloomberg News reports that Hospitality Investors
Trust Inc. filed for bankruptcy with a deal in place that would
have a Brookfield Asset Management affiliate take control of the
hotel operator.

The real estate investment trust's bankruptcy plan would pay
creditors in full or reinstate their claims, court papers show.
The Brookfield affiliate, which already owns all of HIT’s
preferred shares, would get all of the company's common shares.

HIT, which owns about 100 hotels across the U.S., "suffered the
severe consequences of the novel coronavirus pandemic" and has been
unable to tap capital markets, Chief Financial Officer Bruce
Riggins wrote in a court declaration.

                  About Hospitality Investors

Headquartered in New York, Hospitality Investors Trust, Inc. --
HTTP://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. and subsidiary Hospitality
Investors Trust Operating Partnership LP, sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 21-10831) on May 19, 2021.
In the petition signed by CEO and president Jonathan P. Mehlman,
Hospitality Investors Trust estimated total assets of
$1,701,867,000 as of March 31, 2021 and estimated total liabilities
$1,360,423,000 as of March 31, 2021.  

The cases are handled by Honorable Judge Craig T. Goldblatt.  

Jeff J. Marwil, Paul V. Possinger and Jordan E. Sazant of PROSKAUER
ROSE LLP, and Jeremy W. Ryan of POTTER ANDERSON & CORROON LLP serve
as the Debtors' attorneys.  JEFFERIES LLC is the Debtors' financial
advisor.  MORRISON & FOERSTER LLP serves as counsel to the
independent directors.  EPIQ CORPORATE RESTRUCTURING, LLC serves as
claims agent.


IG INVESTMENTS: Moody's Affirms B3 CFR & Rates New $550MM Loan B2
-----------------------------------------------------------------
Moody's Investors Service affirmed IG Investments Holdings, LLC's
("Insight Global") corporate family rating at B3, probability of
default rating at B3-PD and senior secured first lien credit
facility rating at B2. Moody's assigned B2 ratings to the proposed
$550 million incremental senior secured first lien term loan due
2025 and $118 million senior secured first lien revolving credit
facility expiring 2025. The outlook is stable.

Insight Global announced that it would increase the amount of its
senior secured first lien term loan due 2025 to $1,635 million from
$1,085 million and use the net proceeds to fund a $535 million
dividend to shareholders.

RATINGS RATIONALE

Insight Global's B3 CFR reflects Moody's expectation for high
debt-to-EBITDA leverage of 6.6 times for the twelve months ending
March 31, 2021 proforma for the dividend recapitalization to return
to a low 6 times range in the next 12 to 18 months. Ratings are
pressured by modest EBITDA margins expected at around 10% and free
cash flow to debt anticipated to be around 2%. Free cash flow could
be limited by investments made to achieve revenue growth, including
in working capital usage. The rating is also constrained by Insight
Global's exposure to the cyclical nature of the highly fragmented
temporary employment staffing industry, as well as moderate degree
of customer concentration. Moody's considers Insight Global's
financial strategies aggressive, featuring a history of frequently
incurring debt to fund distributions to common shareholders.

All financial metrics cited reflect Moody's standard adjustments.

Insight Global's rating is supported by the company's robust
organic growth prospects over the next 12 to 18 months, aided by an
increasing preference for flexible staffing arrangements by
employers, especially for IT consultants, that provide tailwinds to
the temporary staffing industry. Insight Global has good track
record of execution in expanding its office locations and maintains
a national network of internally trained recruiters and pool of
qualified consultants. The company's diverse US locations support
its ability to serve national accounts, including to US federal and
other government institutions.

Insight Global is expected to maintain adequate liquidity,
supported by $89 million cash at the transaction closing. Moody's
expects free cash flow of around $40 million, which would provide
adequate coverage for $16.7 million of required annual first lien
term loan amortization payments. In addition, Insight Global is
expected to have full availability of its proposed $118 million
revolving credit facility expiring in 2025 and $9 million revolver
expiring in 2023. The credit agreement includes a maximum first
lien net leverage covenant of 7.5x, applicable only to the
revolvers, and tested only when revolver utilization exceeds 35% at
the end of any fiscal quarter. Moody's anticipates Insight Global
would maintain an ample cushion below the covenant's maximum level
if it is measured. There are no financial maintenance covenants
applicable to the term loans.

The B2 rating of the senior secured first lien credit facility,
consisting of the $118 million revolving credit facility expiring
February 2025, $9 million revolving credit facility expiring May
2023 and the $1,635 million term loan due May 2025 (including the
incremental $550 million loan), reflects the PDR of B3-PD and a
loss given default ("LGD") of LGD3. The rating is one notch higher
than the B3 CFR, reflecting the priority lien on substantially all
of the Insight Global's assets and loss absorption provided by the
unrated $295 million senior secured second lien term loan due in
Moody's hierarchy of claims at default.

The stable outlook reflects Moody's expectations for strong revenue
growth to fuel rapid leverage declines over the next 12 to 18
months while the company maintains adequate liquidity to support
anticipated growth.

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

The ratings could be downgraded if there is a deterioration in
operating performance or liquidity, debt-to-EBITDA is sustained
above 6.5x, free cash flow is weak or negative, EBITA-to-interest
expense is less than 1.25x or financial strategies become more
aggressive.

The ratings could be upgraded if Insight Global delivers sustained
revenue and earnings growth, and modifies its financial policies to
be more conservative so that Moody's expects debt-to-EBITDA to
remain below 5.5x and free cash flow as a percentage of debt will
stay above 5%.

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

Issuer: IG Investments Holdings, LLC

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Bank Credit Facility, Affirmed B2 (LGD3)

Senior Secured 1st Lien Revolving Credit Facility, Assigned B2
(LGD3)

Senior Secured Term Loan, Assigned B2 (LGD3)

Outlook, Remains Stable

Headquartered in Atlanta, Georgia, Insight Global is a specialized
provider of temporary and project professionals in the field of
information technology (about 85% of revenue), finance/accounting
and engineering. The company operates through 61 offices that are
largely located in major cities across the U.S. and Canada. Insight
Global is majority owned by affiliates of private equity sponsor
Harvest Partners. The company generated approximately $2.7 billion
for the twelve months ended March 31, 2021.


INTEGRATED AG: Seeks to Extend Plan Exclusivity Until May 21
------------------------------------------------------------
Debtor Integrated AG XI, LLC requests the U.S. Bankruptcy Court for
the District of Arizona to extend the exclusive periods during
which the Debtor may confirm a plan of reorganization for an
additional day to May 21, 2021.

The Debtor continues to operate its business and manage its assets
as a debtor-in-possession under sections 1107 and 1108 of the
Bankruptcy Code.

On or about April 26, 2021, the Court entered its order requiring
the Debtor to file its plan and disclosure statement on or before
May 21, 2021.

The Debtor intends to file its plan and disclosure statement by the
May 21, 2021 deadline and wishes to maintain exclusivity as
contemplated by 11 U.S.C. section 1121(c).

Good cause exists for extending exclusivity. If granted, the
exclusivity extension will permit Debtor to properly administer the
reorganization of this case. Also, it will facilitate an expedited
and efficient reorganization.

The Debtor has requested the approval of Great Western Bank to this
Motion. However, they have not responded since May 18, 2021, which
was the time of the filing of this Motion.

The Debtor's current exclusive periods to file and confirm a plan
of reorganization is May 20, 2021, and July 19, 2021,
respectively.

No trustee or examiner has been appointed in the Debtor's
bankruptcy case, nor has an Official Committee of Unsecured
Creditors been established.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3bDtaAu from PacerMonitor.com.

                            About Integrated AG XI

Scottsdale, Ariz.-based Integrated AG XI, LLC filed a Chapter 11
petition (Bankr. D. Ariz. Case No. 21-00414) on July 9, 2018. In
its petition, the Debtor disclosed $33,909,241 in assets and
$20,701,272 in liabilities. Bryan Hepler, an authorized
representative, signed the petition.  

Judge Daniel P. Collins oversees the case. Burch & Cracchiolo,
P.A., serves as the Debtor's bankruptcy counsel.


INTERTAPE POLYMER: Moody's Rates New $350MM Unsecured Notes 'Ba3'
-----------------------------------------------------------------
Moody's Investors Service upgraded Intertape Polymer Group Inc.'s
(IPG) corporate family rating and probability of default rating to
Ba2 and Ba2-PD, from Ba3 and Ba3-PD, respectively. IPG's
speculative grade liquidity rating was also upgraded to SGL-2 from
SGL-3. At the same time, Moody's assigned a Ba3 rating to IPG's
proposed $350 million senior unsecured notes due 2029. The ratings
outlook remains stable.

"The upgrade reflects our expectation that IPG will grow and
deleverage meaningfully through 2022, supported by high e-commerce
demand post-COVID" said Whitney Leavens, Moody's analyst.

Proceeds from the proposed unsecured notes due 2029 will be used to
fully repay the $250 million senior unsecured notes due 2026 and
partially repay the revolving credit facility due 2023.

Upgrades:

Issuer: Intertape Polymer Group Inc.

Corporate Family Rating, Upgraded to Ba2 from Ba3

Probability of Default Rating, Upgraded to Ba2-PD from Ba3-PD

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

Assignments:

Issuer: Intertape Polymer Group Inc.

Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD5)

Outlook Actions:

Issuer: Intertape Polymer Group Inc.

Outlook, Remains Stable

RATINGS RATIONALE

IPG's Ba2 CFR benefits from: (1) a strong position in the North
American tape market with a broad, complementary product and
service offering including an array of industrial and specialty
products and packaging systems; (2) end market diversification with
increasing exposure to the high-growth e-commerce segment; (3)
solid credit metrics, including expected low leverage (pro-forma
adjusted Debt/EBITDA at 3.1x as of Q1 2021) declining to under 2.5x
by year end 2021; and (4) a track record of strategic investments
driving growth and operational efficiencies. The company's rating
is constrained by: (1) its small scale within the rated packaging
industry universe; (2) a fragmented, competitive industry coupled
with easily replicable individual products; and (3) an acquisition
driven growth strategy involving releveraging and execution risks.

IPG has good liquidity (SGL-2). Pro-forma for the transaction,
Moody's estimates that sources total about $430 million, consisting
of cash on hand of about $10 million as of Q1 2021, Moody's
forecast for $20 million in positive free cash flow through Q1
2022, and full availability under the $400 million revolving credit
facility due 2023. There are no near-term debt maturities. Moody's
expect the company to utilize the revolver to manage seasonal
swings in working capital. The revolver is subject to leverage and
coverage covenants with which Moody's expects IPG to remain
comfortably in compliance.

The proposed senior unsecured notes are rated Ba3, one notch below
the Ba2 CFR to reflect their junior position relative to the
secured debt.

The stable outlook reflects Moody's expectation that IPG will
maintain its strong market position and good liquidity while
deleveraging to under 2.5x.

Intertape has moderate exposure to environmental risks, including
potential legislation and regulatory attention on emissions and
sustainable production. Moody's believe IPG is well positioned to
adapt to environmentally-friendly transitions in the industry,
including a potential shift away from film-based tapes, given the
company's focus on product and material innovation in order to meet
demand for more sustainable options and continued progress on
obtaining certified recyclability on its products.

Social risks include considerations around responsible production
and increasing consumer activism around more sustainable product
alternatives. Risks are mitigated by the company's long-term
relationships with a diversified customer base and innovative
capacity to develop more sustainable products. IPG benefits from a
diversified product offering across end segments and has been well
positioned to absorb a post-pandemic acceleration in demand
favoring e-commerce.

Governance risks are moderate and linked primarily to financial
policy with some risk of leveraging M&A activity. However, Moody's
expect the company to focus primarily on organic growth through
2022 while allocating free cash flow towards debt reduction. IPG is
a publicly traded company with a stated leverage target of 2x-2.5x
net debt to EBITDA (and up to 4x for acquisitions), with a strong
track record of remaining within its target and achieving
performance in line with guidance. Although IPG has an
eleven-member board of directors of which nine it considers
independent, three have been on the board for over ten years, which
Moody's believe limits their independence.

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

The ratings could be upgraded if IPG significantly increases its
scale and geographic diversification, while maintaining adjusted
debt/EBITDA comfortably below 2.5x (pro forma 3.1x at Q1 2021) and
free cash flow to debt consistently above 10% (pro forma 14% LTM at
Q1 2021).

The ratings could be downgraded if adjusted debt/EBITDA remains
above 3.5x (pro forma 3.1x at Q1 2021), if IPG generates sustained
negative free cash flow or liquidity weakens. Deterioration in
operating performance or a more aggressive financial policy
including debt-financed acquisitions could also pressure the
rating.

Intertape Polymer Group Inc., headquartered in Montreal, Quebec and
Sarasota, Florida, manufactures and sells carton sealing and
industrial and specialty tapes, stretch and shrink films,
protective packaging, woven coated fabrics, and packaging systems
for industrial and retail use across many different markets such as
food and beverage, manufacturing and fulfillment/e-commerce. IPG's
revenue for the last twelve months ending March 31, 2021 was about
$1.3 billion.

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


JFG HOLDINGS: Court Approves Disclosure Statement
-------------------------------------------------
Judge Edward Morris has entered an order approving the Amended
Disclosure Statement of JFG Holdings, Inc.

June 21, 2021 is fixed as the last day for filing and serving
written acceptances or rejections of the Plan in the form of a
ballot.

June 28, 2021 at 1:30 p.m. is fixed for the hearing on Confirmation
of the Plan in the Courtroom of the Honorable Edward Morris, 501
Tenth Street, 2nd Floor, Fort Worth, Texas.

June 21, 2021 is fixed as the last day for filing and serving
written objections to confirmation of the Plan.

                        About JFG Holdings

JFG Holdings, Inc., a single asset real estate debtor (as defined
in 11 U.S.C. Section 101(51B)), filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex.
Case No. 20-43378) on Nov. 2, 2020.  JFG Holdings President Janice
Grimes signed the petition.  At the time of filing, the Debtor
estimated assets of up to $50,000 and estimated liabilities of $1
million to $10 million.  Eric A. Liepins, P.C., serves as the
Debtor's legal counsel.


KERWIN BURL STEPHENS: $1.9M Sale of Godley Land to Seven Ten Okayed
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized Kerwin Burl Stephens' sale of his 152.50-acre tract of
land located near Godley, Texas, to Seven Ten Land & Cattle Co.,
LLC, for a cash price of $1,906,250.

The Debtor is authorized to sell the Godley Land to the Buyer in
accordance with the terms of the Contract; provided, however, the
Mineral Estate will be retained by the Debtor subject to the Deed
of Trust.

The sale of the Godley Land to the Buyer is free and clear of all
liens, claims, encumbrances, and other interests; provided,
however, that the Godley Land will be sold to the Buyer subject to
property taxes and assessments for 2021 and later tax years.
Without limiting the generality of the foregoing, the Claims will
include all liens and rights of the Bank.  All such Claims will
attach to the Sales Proceeds.

The sale will be closed by the Title Company.  The Debtor will be
entitled to pay from the Sales Proceeds ordinary closing costs and
costs of sale as provided in the Contract, including without
limitation the costs for a survey and the premium on the Buyer's
title policy.  In addition, to the extent not already paid, the
Debtor will pay at closing from the Sales Proceeds any unpaid 2020
real estate taxes assessed against the Godley Land.  The property
taxes for 2021 will be prorated as set forth in the Contract.

Upon the closing and funding of the sale pursuant to the Contract,
the remaining Sales Proceeds (less the allowed payments therefrom
as set forth) will be deposited in a DIP Account with a bank or
financial institution approved by the U.S. Trustee.  The DIP
account will be an interest-bearing account if such an account is
reasonably available.  The Debtor will hold the Sales Proceeds in
the DIP Account as cash collateral, and will make no use or
disposition thereof, except upon further order of the Court.

The stay imposed under Bankruptcy Rule 6004(h) will apply to the
Order.

Kerwin Burl Stephens sought Chapter 11 protection (Bankr. N.D. Tex.
Case No. 21-40817) on April 7, 2021.  The Debtor tapped J. Forshey,
Esq., as counsel.



KLAUSNER LUMBER: Unsecureds to Recover 58.1% to 100% in Plan
------------------------------------------------------------
Klausner Lumber One LLC and the Official Committee of Unsecured
Creditors in the Chapter 11 Case jointly submit this First Amended
Disclosure Statement.

The Ballots have been specifically designed for the purpose of
soliciting votes on the Plan from Holders of Claims within Classes
3A, 3B, 4, 5, 6, and 7 who are entitled to a vote with respect
thereto.  Accordingly, in voting on the Plan, please use only the
Ballot sent to you with this Disclosure Statement. To be counted,
please complete and sign your Ballot, and submit it so as to be
received by 5:00 p.m. (Prevailing Eastern Time), on June 24, 2021.

The Plan Support and Settlement Term Sheet ("PSA"), is predicated
on the estimation, upon information and belief, that the Net
Distribution Proceeds available for distributions under the Plan
will be approximately $30 million. In such event, the Mediation
Parties have agreed to the following sharing arrangement (subject
to adjustment as set forth in the PSA and Plan):

   a. Class 4 (FS Deficiency/Unsecured Claims) shall receive $19
million of Net
Distribution Proceeds (the "Class 4 Distribution Amount") for
distribution on account of the Allowed Florida Sawmills Claim (the
sole Allowed Claim in Class 4).

   b. Class 5 (General Unsecured Claims) shall receive $7.2 million
of Net Distribution Proceeds (the "Class 5 Distribution Amount"),
for distribution Pro Rata on account of the Allowed Class 5 General
Unsecured Claims.

   c. Class 6 (Affiliate Unsecured Claims) shall receive $3.8
million of Net Distribution Proceeds (the "Class 6 Distribution
Amount") for distribution on account of the Allowed Affiliate
Claims, provided, however, that if the total amount of the Allowed
Class 5 General Unsecured Claims is less than $7.2 million (such
that the distribution in clause b. above results in 100% recovery
to Allowed Claims in Class 5), then the portion of the Class 5
Distribution Amount which exceeds the total amount of Allowed Class
5 General Unsecured Claims, (i) the first up to $200,000 (that
would have otherwise been distributed to Allowed Class 5 General
Unsecured Claims), will be added to and become part of the Class 6
Distribution Amount and be distributed to the Affiliates to bring
their total recovery to a possible maximum amount of $4 million,
and (ii) any excess amount above $200,000 will be split equally
(e.g., 50%/50%) between the Class 4 Distribution Amount and the
Class 6 Distribution Amount.

The PSA provides for certain other adjustments to the Class 4, 5
and 6 Distribution Amounts based on the ultimate amount of Net
Distribution Proceeds available for distribution as well as
provides for the Allowance of certain Claims held by Florida
Sawmills and the Affiliates. In addition, the PSA and Plan provide
for the exchange of mutual releases among the parties to the PSA
with respect to all matters related to the Disputes (as defined in
the PSA) and this Chapter 11 Case.

The Plan will treat claims as follows:

   * Class 4 - FS Deficiency/Unsecured Claim totaling $76,410,414
will recover 24.9% of their claims.  Each Holder of the Allowed FS
Deficiency/Unsecured Claim shall receive its Pro Rata Share of the
Class 4 Distribution Amount. Class 4 is impaired.

   * Class 5 - General Unsecured Claims totaling $6.3 to $12.4
million will recover 58.1% to 100% of their claims.  Each Holder of
an Allowed General Unsecured Claim shall receive its Pro Rata Share
of the Class 5 Distribution Amount. Class 5 is impaired.

   * Class 6 - Affiliate Unsecured Claim totaling $65,972,335 will
recover 8% of their claims.  Each Holder of an Allowed Affiliate
Unsecured Claim will receive its Pro Rata Share of the Class 6
Distribution Amount.. Class 6 is impaired.

Attorneys for the Debtor:

     Thomas A. Draghi
     Alison M. Ladd
     WESTERMAN BALL EDERER MILLER
       ZUCKER & SHARFSTEIN, LLP
     1201 RXR Plaza
     Uniondale, New York 11556
     Telephone: (212) 622-9200
     Facsimile: (212) 622-9212

     Robert J. Dehney
     Eric Schwartz
     Daniel B. Butz
     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     1201 North Market Street, 16th Floor
     P.O. Box 1347
     Wilmington, Delaware 19899
     Telephone: (302) 658-9200
     Facsimile: (302) 658-3989

Attorneys for the Official Committee of Unsecured Creditors

     Richard J. Bernard
     FAEGRE DRINKER BIDDLE & REATH LLP
     1177 Avenue of the Americas, 41st Floor
     New York, New York 10036
     Richard.Bernard@faegredrinker.com
     Direct: (212) 248-3263

     Alissa M. Nann
     FOLEY & LARDNER LLP
     90 Park Avenue
     New York, NY 10016
     Tel: (212) 682-7474
     Fax: (212) 687-2329

     Eric J. Monzo
     Brya M. Keilson
     MORRIS JAMES LLP
     500 Delaware Avenue, Suite 1500
     Wilmington, DE 19801
     Tel: (302) 888-6800
     Fax: (302) 571-1750

A copy of the First Amended Disclosure Statement is available at
https://bit.ly/3f00VhF from PacerMonitor.com.

                  About Klausner Lumber One

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

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

Judge Karen B. Owens oversees the case.

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

The Office of the U.S. Trustee appointed a committee to represent
unsecured creditors in the Debtor's Chapter 11 case.  The committee
tapped Foley & Lardner LLP and Faegre Drinker Biddle & Reath LLP as
its counsel.


LA DHILLON: Unsecured Creditors to Be Paid in Full Without Interest
-------------------------------------------------------------------
La Dhillon Investments, LLC, filed a Second Amended Disclosure
Statement explaining its Chapter 11 Plan.

Under the Plan, General unsecured creditors in Class 3 are expected
to be paid in full, without interest, after satisfaction of claims
accorded higher priority.

In 2005, La Dhillon was registered under the laws of the State of
Louisiana. La Dhillon owns and operates a Country Inn & Suites
hotel in Ruston, Louisiana, as its sole real estate and business.

Devinder Singh's Exit financing claim will arise from the
approximate $400,000 in "new money" which will be funded upon entry
of the Confirmation Order in this case. The DIP financing claim
will be satisfied by renewed equity interest in the Debtor. Full
funding of DIP financing is a condition for the Plan to become
effective.

Under the Plan's proposed treatment of Class 3, which contains
general unsecured claims against the Debtor, general unsecured
claims will be paid in full, without interest, with payments
commencing 60 days from the Effective Date which shall be made in
equal quarterly installments of approximately $9,767 over five
years.

There will be no recovery for the claims in the approximate amount
of $1,666,493 prepetition and further amounts postpetition advanced
postpetition, held by Devinder Singh or his family members, and are
classified as unsecured non-debtor affiliate claims.

Payments and distributions under the Plan will be funded by the
ongoing operations of the business and the potential proceeds from
the Adversary Proceeding, funds supplied by Devinder Singh, and an
Incentive Promissory Note and loan from Choice Hotels in the amount
of $380,000, which is forgivable after 10 years.

Attorneys for the Debtor:

     Bradley L. Drell
     Heather M. Mathews
     GOLD, WEEMS, BRUSER, SUES & RUNDELL
     P.O. Box 6118
     Alexandria, LA 71307-6118
     Tel: (318) 445-6471
     Fax: (318) 445-6476
     E-mail: bdrell@goldweems.com

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

                  About La Dhillon Investments

La Dhillon Investments, LLC, based in Ruston, LA, filed a Chapter
11 petition (Bankr. W.D. La. Case No. 20-30840) on Sept. 14, 2020.
In the petition signed by Devinder Singh, owner, the Debtor was
estimated to have $0 to $50,000 in assets and $1 million to $10
million in liabilities.  The Hon. John S. Hodge presides over the
case.  Gold Weems Bruser Sues & Rundell, serves as bankruptcy
counsel to the Debtor.


LEWISBERRY PARTNERS: Taps Christopher Zellman as Accountant
-----------------------------------------------------------
Lewisberry Partners, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to employ
Christopher Zellman, an accountant practicing in West Chester, Pa.

Mr. Zellman's services include:

   a. analyzing the Debtor's financial records, including but not
limited to, budgets, forecasts, and monthly operating reports;

   b. advising the Debtor on the viability of its operations;

   c. assisting in the prosecution of adversary proceedings;

   d. addressing other accounting, valuation and finance issues
that arise in the Debtor's Chapter 11 case;

   e. assisting the Debtor in evaluating its proposed Chapter 11
plan or disclosure statement;

   f. assisting the Debtor in the preparation and filing of its
state and federal tax returns for the year 2020; and

   g) other tasks as the Debtor may request.

Mr. Zellman will be paid a flat rate of $1,000 for the preparation
of the Debtor's 2020 tax returns.  The accountant will also receive
reimbursement for out-of-pocket expenses incurred.

In court filings, Mr. Zellman disclosed that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

Mr. Zellman can be reached at:

     Christopher L. Zellman
     596 Cork Circle
     West Chester, PA 19380
     Tel: (610) 436-8118
     Fax: (610) 431-8233

                     About Lewisberry Partners

Lewisberry Partners LLC, a Phoenixville, Pa.-based company engaged
in renting and leasing real estate properties, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No.
21-10327) on Feb. 9, 2021. In the petition signed by Richard J.
Puleo, managing member, the Debtor disclosed up to $10 million in
both assets and liabilities.  Judge Eric L. Frank oversees the
case.  

Obermayer Rebmann Maxwell & Hippel, LLP and Christopher L. Zellman
serve as the Debtor's legal counsel and accountant, respectively.


LUTHERAN SOCIAL: Files for Chapter 11, Winding Down
---------------------------------------------------
Patrick Springer of The Dickinson Press reports that Lutheran
Social Services of North Dakota is entering the final phase of
winding down after 102 years of service.  The state's largest
private social services provider filed for bankruptcy to pay off
creditors.

Lutheran Social Services of North Dakota has entered the final
phase of its dissolution with the filing of a bankruptcy petition
for an orderly distribution of assets to creditors for the state's
largest private social services provider.

Lutheran Social Services filed a petition for a Chapter 11
bankruptcy on Thursday, May 13, 2021, four months after the
organization's board of directors determined it wasn’t able to
continue operating.

Administrators have blamed heavy debts from Lutheran Social
Services Housing, which provided affordable housing in rural areas,
for the 102-year-old organization's financial failure.

Lutheran Social Services invested $16 million and borrowed another
$45 million for its housing program, which grew significantly
during the 2010s in response to an urgent need for affordable
housing in the Oil Patch during the Bakken boom.

The organization owned 20 housing projects and managed another 14
facilities in 22 communities in North Dakota, which provided
housing for about 1,400 residents.

But the housing program’s expenses exceeded revenues, and some
projects never earned enough revenue to support themselves, Bob
Otterson, Lutheran Social Services' chief executive said in a
statement accompanying the bankruptcy filing.

Money will be available to pay unsecured creditors, but it wasn't
apparent from the filing how much would be available to pay
unsecured obligations totaling almost $413,000, according to debts
listed in the bankruptcy filing.

The documents did not provide a total for secured debts held by
banks, but include a foreclosure lawsuit seeking $8.3 million filed
by First International Bank & Trust owed for the 124-unit Prairie
Heights apartment complex in Watford City.

Several other banks have filed lawsuits seeking loan repayments.

Alerus Financial Corp. said Lutheran Social Services Housing still
owes more than $4.7 million on a 2017 loan for a housing project in
Stutsman County, and Cornerstone Bank said it owes more than $7.5
million on a 2016 loan for a project in Watford City, according to
court documents.

Other secured debts, according to the bankruptcy filing, include a
$5.6 million loan owed to the city of Maddock and a federal Payroll
Protection Program loan of more than $2.5 million, for which
Lutheran Social Services has applied for forgiveness.

Lutheran Social Services also owes Gate City Bank $591,975 and
American State Bank & Trust $149,991, according to bankruptcy
filings.

In the bankruptcy petition, Lutheran Social Services seeks approval
from a judge in U.S. Bankruptcy Court in Fargo to use cash
collateral to pay expenses as the organization continues what
Otterson has described as an "orderly wind down," which includes
liquidating assets, paying creditors and transferring key programs
to other organizations.

One important program is Luther Hall in Fargo, which provides
residential treatment for children aged 10 to 17. Luther Hall has
been sold to Nexus Family Healing, a nonprofit group that
specializes in outpatient therapy, residential treatment and foster
care for children with emotional and behavioral health problems.

Most employees were told their jobs were being eliminated when
Otterson announced on Jan. 15, the day the board decided that
Lutheran Social Services couldn't continue to operate, that the
organization was being dissolved.  The organization had 283
employees as of mid-January.

Several major real estate holdings are being sold off.  Lutheran
Social Services has an agreement to sell its Fargo headquarters,
near the interchange of Interstates 29 and 94, for $4.9 million to
Great Hall Partners, a real estate holding company based in Fargo.

In a May 14 letter to former employees, Otterson notified them that
they were receiving payments, minus deductions, for unused vacation
days. The payments were made possible by the sale of Lutheran
Social Services' Bismarck program center, which enabled the
organization to make payments to its primary lender, Bremer Bank,
he said.

"Many people invested their careers here," Otterson wrote in the
letter. "Many people turned to LSS in times of need. Unfortunately,
decisions made two, four, even 10 years ago brought down this
agency and forced hundreds of people to seek healing, help and hope
from other sources."

Otterson took the helm of the agency on Dec. 1, 2020 -- six weeks
before the board decided to cease operations -- and has spent most
of his tenure "winding down" the organization.

In a separate legal proceeding, the assets of Lutheran Social
Services Housing, a subsidiary nonprofit, are going through
receivership.  The receiver, Lighthouse Management, is running the
properties and will decide whether to sell housing assets, he
said.

                 About Lutheran Social Services

Lutheran Social Services of North Dakota, a tax-exempt entity,
filed a petition under Subchapter V of Chapter 11 under the
Bankruptcy Code (Bankr. D. N.D. Case No. 21-30203) on May 13, 2021.
As of the Petition Date, the Debtor estimated between $1,000,000
to $10 million in both assets and liabilities. The petition was
signed by Alex J. Dybsky, director of Lighthouse Management Group,
Inc., as CRO.  The Debtor tapped FREDRIKSON & BYRON, P.A., as its
counsel.


M TRAN CONSTRUCTION: Court Approves Plan Disclosures
----------------------------------------------------
Judge Stephen L. Johnson has entered an order approving the
disclosures in the Combined Plan and Disclosure Statement of M Tran
Construction, Inc.

The hearing on confirmation of the Plan is set for June 15, 2021,
at 10:00 a.m.

Any objection to confirmation must be filed by June 8, 2021.

Ballots accepting or rejecting the plan must be received by
Debtor's counsel no later than June 8, 2021.

                     About M Tran Construction

M Tran Construction, Inc., operates a construction business.  It
was formed in 2004.  Minh Tran is the sole shareholder and
President of the corporation.  

M Tran Construction filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Cal. Case No. 19-51856) on Sept. 13, 2019, listing
under $1 million in both assets and liabilities.  The Debtor is
represented by Mufthiha Sabaratnam, Esq., in Oakland, California.


MALLINCKRODT PLC: Acthar Plaintiffs Seek Ch.11 Trustee Appointment
------------------------------------------------------------------
The Acthar Plaintiffs filed a renewed motion to appoint a trustee
in the Chapter 11 cases of Mallinckdrodt PLC and its debtor
affiliates.

The Acthar Plaintiffs -- including the classes of tens of thousands
of patients and third party payors (TPPs) they represent in three
separate class action cases pending in three federal district
courts -- assert these four grounds for the appointment of a
trustee for the Debtors:

  1. Substantial and uninvestigated transfers from the Specialty
Brands businesses to the Debtor overseas parent entities.  Of these
transfers, exceeding $3.3 billion in the nine months preceding the
bankruptcy filings, four were made while the Specialty Brands
entities were insolvent and must be returned.  Those causes of
action to recover those transfers for the Specialty Brands'
creditors, or the failure to investigate and pursue those causes of
action, create an irreconcilable conflict.

  2. The Restructuring Support Agreement (RSA) cannot form the
basis of a confirmed plan as the RSA and the Plan filed by the
Debtors on April 20, 2021 (violate key provisions of the Bankruptcy
Code.  The Debtors and their professionals are burning tens of
millions of dollars on a Plan that can never be confirmed.  Such
incompetence warrants the appointment of a trustee to investigate
why the Debtors would pursue such a Plan and who the Debtors seek
to protect.

  3. The Debtors continue to violate the antitrust, racketeering
and consumer fraud laws of the United States.  Every day that this
case has been pending, these Debtors, in an active and knowing
conspiracy with their professionals and Express Scripts (or
whatever name Express Scripts is now operating under) engaged in
price fixing and anti-competitive behavior.  All such conduct has
generated claims which carry administrative status and thus the
Debtors are increasing their liabilities in the Chapter 11 and not
minimizing those liabilities.  This increase in administrative
claims harms all other unsecured creditors.

  4. Finally, the Debtors have retained professionals who have
serious and irreconcilable conflicts, and the Debtors along with
these professionals have been less than transparent, consistently
objecting to produce even the most basic discovery into their
professional dealings and delaying critical disclosures.  This lack
of transparency alone warrants the appointment of a Chapter 11
trustee.

Daniel K. Astin, Esq., at Ciardi Ciardi & Astin, one of the Acthar
Plaintiffs' counsel, said the Plaintiffs have lost all confidence
in the competence and honesty of the Debtors and their management
team.  He said the Debtors' wasting of estate assets on the one
hand, and the continuing antitrust and RICO violations, on the
other hand, increase administrative claims against the estate by
the millions each day.  Yet, these Debtors continue to seek bonuses
to pay management for the implementation and continuation of
antitrust price fixing conduct, he said.

Accordingly, the Acthar Plaintiffs ask the Court to appoint a
Chapter 11 Trustee to oversee either the Debtors as a whole or the
Specialty Brands side of the business only.

A copy of the motion is available for free at
https://bit.ly/3v7ueEw from Prime Clerk, LLC, claims agent.  

Hearing on the motion is on June 9, 2021 at 2 p.m., E.T.
Objections must be filed by June 2 at 4 p.m., E.T.

Counsel for the Acthar Plaintiffs:

     Daniel K. Astin, Esq.
     CIARDI CIARDI & ASTIN
     1204 North King Street
     Wilmington, DE 19801
     Telephone: (302) 658-1100
     Facsimile: (302) 658-1300
     Email: dastin@ciardilaw.com

            - and -

     Albert A. Ciardi, III, Esq.
     Walter W. Gouldsbury III, Esq.
     CIARDI CIARDI & ASTIN
     1905 Spruce Street
     Philadelphia, PA 19103
     Telephone: (215) 557-3550
     Facsimile: (215) 557-3551
     Email: aciardi@ciardilaw.com
            wgouldsbury@ciardilaw.com

             - and -

     Donald E. Haviland, Jr., Esq.
     William H. Platt II, Esq.
     HAVILAND HUGHES
     201 South Maple Ave., Suite 110
     Ambler, PA 19002
     Telephone: 215-609-4661
     Facsimile: 215-392-4400
     Email: haviland@havilandhughes.com
            platt@havilandhughes.com

             - and -

     Dion G. Rassias, Esq.
     Jillian E. Johnston, Esq.
     THE BEASLEY FIRM, LLC
     1125 Walnut Street
     Philadelphia, PA 19107
     Telephone: 215-592-1000
     Email: dgr@beasleyfirm.com
            Jill.johnston@beasleyfirm.com

             - and -

     James Bartimus, Esq.
     Anthony DeWitt, Esq.
     BARTIMUS, FRICKLETON, ROBERTSON, RADER PC
     11150 Overbrook Road, Suite 200
     Leawood, KS 66211
     Telephone: 913-266-2300
     Facsimile: 913-266-2366
     Email: jb@bflawfirm.com
            ALDewitt@bflawfirm.com

             - and -

     Peter J. Flowers, Esq.
     Jonathan P. Mincieli, Esq.
     MEYERS & FLOWERS, LLC
     3 North Second Street, Suite 300
     St. Charles, IL 60174
     Telephone: 630-232-6333
     Facsimile: 630-845-8982
     Email: pjf@meyers-flowers.com
            jpm@meyers-flowers.com

The Acthar Plaintiffs' quantifiable and actually quantified
unsecured claims against the Debtors exceed $4 billion.

                      About Mallinckdrodt PLC

Mallinckrodt -- http://www.mallinckrodt.com/-- is a global
business consisting of multiple wholly owned subsidiaries that
develop, manufacture, market and distribute specialty
pharmaceutical products and therapies.  The company's Specialty
Brands reportable segment's areas of focus include autoimmune and
rare diseases in specialty areas like neurology, rheumatology,
nephrology, pulmonology and ophthalmology; immunotherapy and
neonatal respiratory critical care therapies; analgesics and
gastrointestinal products.  Its Specialty Generics reportable
segment includes specialty generic drugs and active pharmaceutical
ingredients.

As of March 27, 2020, the Company had $10.17 billion in total
assets, $8.27 billion in total liabilities, and $1.89 billion in
total shareholders' equity.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against the Company.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Latham & Watkins LLP, Ropes & Gray LLP and Wachtell, Lipton, Rosen
& Katz are serving as counsel to the Company, Guggenheim
Securities, LLC, is serving as investment banker and AlixPartners
LLP is serving as restructuring advisor to Mallinckrodt.  Hogan
Lovells is serving as counsel with respect to the Acthar Gel
matter.  Prime Clerk LLC is the claims agent.

On April 20, 2021, the Debtors filed their Plan of Reorganization
and the Disclosure Statement related thereto.  The Bankruptcy Court
will hold a hearing to consider approval of the Disclosure
Statement on May 26, 2021, at 1 p.m. (prevailing Eastern Time)
before the Honorable John T. Dorsey.



MALLINCKRODT PLC: Mandos Agrees to Acquire Vtesse's Adrabetadex
---------------------------------------------------------------
On May 19, 2021, Mandos, LLC (Mandos) announced they have entered
into an agreement with Vtesse, LLC, a wholly owned subsidiary of
Mallinckrodt Pharmaceuticals (Mallinckrodt), a global
biopharmaceutical company, to acquire adrabetadex (also known as
VTS-270), a drug in development for the treatment of Niemann-Pick
Type C1 disease (NPC1).

This acquisition, if approved, will allow Mandos to pursue both the
continuation of the U.S. Expanded Access Program under Rush
University Medical Center (RUMC) and future research and
development of adrabetadex for patients living with NPC1. The
agreement is subject to approval from the United States Bankruptcy
Court for the District of Delaware, as a result of Mallinckrodt’s
ongoing Chapter 11 restructuring.

Niemann-Pick Type C1 disease (NPC1) is a rare progressive genetic
disorder characterized by an inability of the body to transport
cholesterol and other fatty substances (lipids) inside of cells.
This leads to the abnormal accumulation of these substances within
various tissues of the body, including brain, liver, spleen and
lung tissue. As the disease progresses, patients typically exhibit
a decline in neurological and cognitive function, often with
independent changes in muscle tone and strength.

"We look forward to engaging with this passionate community of
patients, caregivers, clinicians, and regulators over the coming
months, once the transaction is approved. We care deeply about
ensuring access for patients and are committed to supporting
efforts to improve the lives of people with NPC1," said Scott
Riccio, EVP, Patient & Community Engagement at Mandos.

                       About Mallinckdrodt PLC

Mallinckrodt -- http://www.mallinckrodt.com/-- is a global
business consisting of multiple wholly owned subsidiaries that
develop, manufacture, market and distribute specialty
pharmaceutical products and therapies.  The company's Specialty
Brands reportable segment's areas of focus include autoimmune and
rare diseases in specialty areas like neurology, rheumatology,
nephrology, pulmonology and ophthalmology; immunotherapy and
neonatal respiratory critical care therapies; analgesics and
gastrointestinal products.  Its Specialty Generics reportable
segment includes specialty generic drugs and active pharmaceutical
ingredients.

As of March 27, 2020, the Company had $10.17 billion in total
assets, $8.27 billion in total liabilities, and $1.89 billion in
total shareholders' equity.

On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against the company.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Latham & Watkins LLP, Ropes & Gray LLP and Wachtell, Lipton, Rosen
& Katz are serving as counsel to the Company, Guggenheim
Securities, LLC, is serving as investment banker and AlixPartners
LLP is serving as restructuring advisor to Mallinckrodt. Hogan
Lovells is serving as counsel with respect to the Acthar Gel
matter. Prime Clerk LLC is the claims agent.

On April 20, 2021, the Debtors filed their Plan of Reorganization
and the Disclosure Statement related thereto. The Bankruptcy Court
will hold a hearing to consider approval of the Disclosure
Statement on May 26, 2021, at 1 p.m. (prevailing Eastern Time)
before the Honorable John T. Dorsey.


MEDLEY LLC: Taps Gellert Scali as Counsel for Independent Director
------------------------------------------------------------------
Medley, LLC seeks approval from the U.S. Bankruptcy Court for the
District of Delaware to hire Gellert Scali Busenkell & Brown, LLC
as counsel to Peter Kravitz, chair of the board of directors'
independent subcommittee.

The firm will be advising the independent director with respect to
his rights, powers and duties during the Debtor's Chapter 11 case.

The firm will be paid at these rates:

     Michael Busenkell       $460 per hour
     Ronald S. Gellert       $460 per hour
     Associates/Of Counsel   $250 to $295 per hour
     Paraprofessionals       $100 to $195 per hour

Amy Brown, Esq., an associate at Gellert, disclosed in a court
filing that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

Gellert can be reached through:

     Amy D. Brown, Esq.
     Gellert Scali Busenkell & Brown, LLC
     1201 N. Orange Street, Suite 300
     Wilmington, DE 19801
     Direct Dial: 302-416-3357
     Fax: 302-425-5814
     Email: abrown@gsbblaw.com

                         About Medley LLC

Medley LLC, through its direct and indirect subsidiaries, including
Medley Capital LLC, is an alternative asset management firm
offering yield solutions to retail and institutional investors.  It
provides investment management services to a permanent capital
vehicle, long-dated private funds, and separately managed accounts,
and serves as the general partner to the private funds.  Medley is
headquartered in New York City and incorporated in Delaware.

As of Sept. 30, 2020, Medley had $3.4 billion of assets under
management in two business development companies, Medley Capital
Corporation (NYSE: MCC) and Sierra Income Corporation, and several
private investment vehicles.  Over the past 18 years, Medley has
provided capital to over 400 companies across 35 industries in
North America.

Medley filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case
No. 21-10526) on March 7, 2021.  The Debtor disclosed $5,422,369 in
assets and $140,752,116 in liabilities as of March 2, 2021.

The Debtor tapped Lowenstein Sandler LLP and Morris James LLP as
bankruptcy counsel, Eversheds Sutherland (US) LLP as special
counsel, B. Riley Securities Inc. as investment banker, and
Andersen Tax LLC as tax accountant.  Kurtzman Carson Consultants,
LLC is the claims agent, maintaining the page
https://www.kccllc.net/medley

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on April 22, 2021.  The committee is
represented by Potter Anderson & Corroon, LLP and Kelley Drye &
Warren, LLP.


MEDLEY LLC: Taps Rock Creek as Advisor for Independent Director
---------------------------------------------------------------
Medley, LLC seeks approval from the U.S. Bankruptcy Court for the
District of Delaware to hire Rock Creek Advisors LLC as financial
advisor to Peter Kravitz, chair of the board of directors'
independent subcommittee.

The firm will render these services:

     a. review the Debtor's assets, financial condition, business,
potential preferential payments and transfers;

     b. investigate and review potential claims and cause of
actions;

     c. prepare and review solvency analysis and related
transactions; and

     d. assist the subcommittee and counsel to provide the court
any information necessary to approve a plan of reorganization.

The firm will be paid at these rates:

     Brian Ayers     $475 per hour
     Mike Hayes      $525 per hour
     Chris Peirce    $375 per hour

Brian Ayers, managing director at Rock Creek, disclosed in a court
filing that his firm does not hold or represent any interest
adverse to the Debtor and its estate.

The firm can be reached through:

     Brian Ayers
     Rock Creek Advisors LLC
     1738 Belmar Blvd.
     Belmar, NJ 07719
     Phone: 201-315-2521
     Email: bayers@rockcreekfa.com

                         About Medley LLC

Medley LLC, through its direct and indirect subsidiaries, including
Medley Capital LLC, is an alternative asset management firm
offering yield solutions to retail and institutional investors.  It
provides investment management services to a permanent capital
vehicle, long-dated private funds, and separately managed accounts,
and serves as the general partner to the private funds.  Medley is
headquartered in New York City and incorporated in Delaware.

As of Sept. 30, 2020, Medley had $3.4 billion of assets under
management in two business development companies, Medley Capital
Corporation (NYSE: MCC) and Sierra Income Corporation, and several
private investment vehicles.  Over the past 18 years, Medley has
provided capital to over 400 companies across 35 industries in
North America.

Medley filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case
No. 21-10526) on March 7, 2021.  The Debtor disclosed $5,422,369 in
assets and $140,752,116 in liabilities as of March 2, 2021.

The Debtor tapped Lowenstein Sandler LLP and Morris James LLP as
bankruptcy counsel, Eversheds Sutherland (US) LLP as special
counsel, B. Riley Securities Inc. as investment banker, and
Andersen Tax LLC as tax accountant.  Kurtzman Carson Consultants,
LLC is the claims agent, maintaining the page
https://www.kccllc.net/medley

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on April 22, 2021.  The committee is
represented by Potter Anderson & Corroon, LLP and Kelley Drye &
Warren, LLP.


METHANEX CORPORATION: Egan-Jones Keeps B+ Senior Unsecured Ratings
------------------------------------------------------------------
Egan-Jones Ratings Company, on May 6, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by Methanex Corporation.

Headquartered in Vancouver, Canada, Methanex Corporation produces
and markets methanol.



MICHAEL F. RUPPE: $388K Sale of Dover Property to Feliz Approved
----------------------------------------------------------------
Judge John K. Sherwood of the U.S. Bankruptcy Court for the
District of New Jersey authorized Michael F. Ruppe's sale of the
real property located at 82-84 Pequannock Street, in Dover, New
Jersey, to Wander Feliz for $388,000, pursuant to and in accordance
with the terms and conditions of the Purchase Agreement.

The customary closing adjustments payable by the Debtor for
municipal charges or assessments will be satisfied from the
proceeds of the sale at closing.  

The Motion included a request to pay Realtor from the sale
proceeds.  The Debtor will pay Realtor 6% of the sale proceeds from
Sale of the Property, without a separate application for
compensation.

The allowed secured claim held by Community Loan Servicing, LLC
will be paid at closing in accordance with the written payoff.   In
addition, property taxes, and municipal charges encumbering the
Property will be paid at closing.  Thereafter title to the Property
will pass to the Purchaser free and clear of any and all Liens and
Claims, with any Liens and Claims to attach only to the Debtor's
interest in the net sale proceeds.

The net Proceeds from the sale of the Property will be disbursed in
accordance with the Plan.

Notwithstanding Bankruptcy Rules 6004(h). the Order will not be
stayed for 14 days after the entry thereof but will be effective
and enforceable upon its entry.

A true copy of the Order will be served on all parties who received
notice of the Motion, within seven days from the entry of the
Order.

Michael F. Ruppe sought Chapter 11 protection (Bankr. D. N.J. Case
No. 20-10544) on Jan. 13, 2020.  The Debtor tapped David L. Steven,
Esq., as counsel.  On Feb. 19, 2020, the Court appointed Robert
Sivori as Realtor.  The Debtor's Plan of Reorganization was
confirmed on March 4, 2021.  



MIDTOWN CAMPUS: Plan Exclusivity Period Extended Until June 2
-------------------------------------------------------------
At the behest of Debtor Midtown Campus Properties, LLC, Judge
Robert A. Mark of the U.S. Bankruptcy Court for the Southern
District of Florida, Miami Division extended the period in which
the Debtors may file a plan of reorganization through and including
June 2, 2021, and to solicit acceptances through and including
August 2, 2021.

The Debtor said that it has negotiated with U.S. Bank the fourth
extension of section 362(d)(3 deadline that would extend the
Deadline parallel with the extension requested, which is the
subject of a contemporaneous motion being filed.

As the Court was appraised at the Status Conference Hearing, the
Debtor has made significant progress in this Chapter 11 case to
advance the construction of the Project and continues to move ahead
to complete construction of the balance of the Project on or before
July 31, 2021.

Notwithstanding these achievements and progress, certain
contingencies and issues remain before the Debtor will be in a
position to propose a feasible plan of reorganization and proceed
to emerge from chapter 11. To that end, the Debtor has agreed to
and will be devoting substantial resources and attention to working
diligently and cooperatively with counsel to U.S Bank to advance a
marketing and sales process, including specifically identifying and
interviewing potential investment bankers for the Debtor to
consider engaging in connection therewith.

In addition, as the Debtor reported to the Court and the parties in
interest at the Status Conference Hearing, the Debtor will continue
a parallel track of negotiating and attempting to finalize a
purchase and sale agreement for the proposed sale of the Project.

In addition, the Debtor is working to resolve the claims asserted
by Sauer in the Complaint for Declaratory Judgment to Determine
Interest in Escrow Account (the "Adversary Complaint") and the
Debtor's Objection to Sauer's Claim (the "Claims Objection"). In
connection with the foregoing, the parties are scheduled to attend
Mediation on May 6, 2021, with Bruce Alexander as mediator.

The extension will allow the Debtor to focus its attention on
advancing a sale process, finalizing the construction of the
Project, and developing a feasible Plan with its creditor body that
will allow it to emerge from bankruptcy.

Also, the extension of the Exclusivity Period and the Acceptance
Period is not unduly burdensome or prejudicial to any parties in
interest in these cases. As discussed at the Status Conference
Hearing, U.S. Bank, Sauer, and the other parties in interest in
attendance consented to the proposed extension.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3b7CwnY from PacerMonitor.com.

A copy of the Court's Extension Order is available at
https://bit.ly/3hf2Qk9 from PacerMonitor.com.

                       About Midtown Campus Properties, LLC

Midtown Campus Properties, LLC, is a single asset real estate that
owns the Midtown Apartments. The Midtown Apartments is a 310-unit
student housing apartment complex currently under construction at
104 NW 17th St in Gainesville Florida, just across from the
University of Florida. It consists of a six-story main building, a
parking garage for resident and public use, and commercial retail
space.

Each unit includes a full-size kitchen, carpet, tile, and hardwood
floors and be fully furnished. It is located near several Midtown
bars and restaurants frequented by students, and just a couple of
minutes' walk from Ben Hill Griffin Stadium.

On May 8, 2020, Midtown Campus Properties sought Chapter 11
protection (Bankr. S.D. Fla. Case No. 20-15173). The Debtor was
estimated to have $50 million to $100 million in assets and
liabilities as of the bankruptcy filing.  

The Honorable Robert A. Mark is the presiding judge. The Debtor
tapped Genovese Joblove & Battista, P.A., as bankruptcy counsel;
and The Bosch Group, Inc., as construction consultants.

No creditors' committee has been appointed in this case. In
addition, no trustee or examiner has been appointed.


MMM MASONARY: Seeks Approval to Hire KC Cohen as Legal Counsel
--------------------------------------------------------------
MMM Masonary, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Indiana to hire KC Cohen, Lawyer, PC,
as its legal counsel.

The firm will render these legal services:

     (a) advise the Debtor regarding its duties and powers in its
Chapter 11 case;

     (b) investigate and pursue any actions to recover assets for
or to enable the estate to reorganize fairly;

     (c) represent the Debtor in its Chapter 11 proceedings in an
effort to maximize the value of its assets and pursue confirmation
of a plan of reorganization;

     (d) perform other legal services.

The firm received a retainer of $5,000, which was used to pay for
pre-bankruptcy services.  It will be paid at the hourly rate of
$350.

In addition, through a contractual relationship with the local law
firm of Monday McElwee and Albright, the firm uses support staff
and lawyers who will be billed at the following rates:

     Christopher J. McElwee      $275 per hour
     Nicholas J Wlideman         $200 per hour
     Bobby H Macias (paralegal)  $100 per hour

KC Cohen, Esq., senior counsel at KC Cohen, Lawyer, disclosed in
court filings that the firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     KC Cohen, Esq.
     KC Cohen, Lawyer, PC
     151 N. Delaware St., Ste. 1106
     Indianapolis, IN 46204-2573
     Telephone: (317) 715-1845
     Email: kc@smallbusiness11.com

                        About MMM Masonary

MMM Masonary, Inc. sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Ind. Case No. 21-01819) on April
23, 2021, listing under $1 million in both assets and liabilities.
Judge Robyn L. Moberly oversees the case.  KC Cohen, Lawyer, PC
serves as the Debtor's legal counsel.


MONARCH GROUP: Court Confirms Chapter 11 Plan
---------------------------------------------
Judge Brenda T. Rhoades has entered an order approving and
confirming the Plan of  Monarch Group LLC.

All objections that have not been withdrawn, waived, or settled are
overruled on the merits.

Each settlement embodied in the Plan between the Debtor and holders
of claims and equity interests is approved in all respects.

The property of the Debtor's estate will not revest in the Debtor
on or after the Effective Date.

Subject to the terms of the Plan, the Reorganized Debtor will use
funds on deposit in its debtor-in-possession accounts, including,
but not limited to, funds within any tax escrow accounts, rental
income, proceeds from the sale of the Debtor's assets, and any
additional monies obtained by the Debtor to fund the distributions
required under the Plan to Classes 1-7.

Class 7 is unimpaired and is deemed to have accepted the Plan.
Classes 1 - 6 are impaired, and as demonstrated by the Voting
Declaration, Classes 2, 4, and 5 have accepted the Plan in
accordance with Bankruptcy Code Sec. 1126(c); and no timely votes
were cast in Classes 1 or 3.  While the holder of the Class 6 Claim
did not cast a ballot, the holder of the Class 6 Claim is the owner
of the Debtor and supports the Plan.

The Plan is fair and equitable and does not discriminate unfairly
as to Class 3 Secured or Priority Claims of Taxing Authorities.
The Court finds that no votes, either to accept or reject the Plan,
were cast by Class 3 claimants. Allowed Secured or Priority Claim
of all Tax Claims shall be paid in accordance with 11 U.S.C. Sec.
1129(a)(9)(c) with the first payment due and payable on the fifth
Business Day of the first month that is more than 30 days after the
Effective Date.

The Plan is fair and equitable and does not discriminate unfairly
as to Class 4 Secured Tax Claims.  The Court finds that Class 4
amended its vote on the record at the Confirmation Hearing to
accept the Plan.  The Allowed Secured Tax Claims of Propel
Financial Services and Sombrero Property Tax Fund I, LLC shall be
paid through 60 equal consecutive monthly payments along with
interest at a rate of 13.9% per annum (unless a default occurs
under the terms of the written agreements between the holder of an
Allowed Class 4 Claim and the Debtor, in which case the default
rate shall apply).

If the Debtor and Class 4 Claim Holder are unable to agree to a
total allowed claim amount, only then must the holder of any Class
4 Claim file an application requesting allowance of any attorney's
fees under 11 U.S.C. Sec. 506(b) relating to its Allowed Secured
Class 4 Claim within thirty (30) days following entry of an order
confirming this Plan.

The first monthly payment on Allowed Class 4 Claims will be due and
payable on the first Business Day of the first month that is more
than 30 days after the Effective Date and on the first Business Day
of each respective month thereafter.

Any liens or security interests securing an Allowed Secured Class 4
Claim will be retained, preserved and continued in their current
lien priority to secure repayment of amounts to be paid under this
Plan to holders of Allowed Secured Class 4 Claims.

                       About Monarch Group

Monarch Group LLC is a "single asset real estate" as that term is
defined in 11 U.S.C. Sec. 101(51B).  Monarch Group owns a real
property located at 2343 E. University Drive, McKinney, Texas.  The
property is used by its affiliates Safari Towing and Collin County
VSF in their towing and impound businesses.

The Debtor is indebted to Donald Sadler and Ruby Sadler, who sold
the Property to Monarch back in 2011 under a promissory note in the
original principal amount of $225,000.

Monarch Group filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Tex. Case No. 20-41708) on Aug. 3, 2020, estimating under $1
million in both assets and liabilities.  The Debtor is represented
by HAYWARD & ASSOCIATES PLLC.


MOUNT GROUP: Seeks to Hire Lucido & Manzella as Special Counsel
---------------------------------------------------------------
Mount Group, LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Michigan to employ Lucido & Manzella, P.C.
as its special counsel.

The Debtor needs the firm's legal assistance in the adversary
proceeding styled Mount Group v Smith Sawyer Smith, et al,
Adversary No. 21-04049.

The firm's attorneys will be paid at the rate of $200 per hour.

As disclosed in court filings, Lucido & Manzella is disinterested
as defined by Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Vincenzo Manzella, Esq.
     Lucido & Manzella, P.C.
     39999 Garfield Rd Suite C
     Clinton Twp, MI 48038
     Phone: 586-228-3900
     Fax : 586-228-3906

                        About Mount Group

Mount Group, LLC is a single asset real estate (as defined in 11
U.S.C. Section 101(51B)).

On June 19, 2020, Mount Group sought Chapter 11 protection (Bankr.
E.D. Mich. Case No. 20-46958).  Yasser Hammoud, Debtor's principal,
signed the petition.  At the time of the filing, the Debtor had
between $1 million and $10 million in both assets and liabilities.
Judge Maria Oxholm oversees the case.  

Robert N. Bassel, Esq., is the Debtor's bankruptcy counsel.
Randall P. Whately, PLLC and Lucido & Manzella, P.C. serve as the
Debtor's special counsel.


MUSTANG MINING: Seeks to Extend Plan Exclusivity Until August 9
---------------------------------------------------------------
Mustang Mining Co., LLC requests the U.S. Bankruptcy Court for the
Northern District of Texas, Dallas Division to extend the exclusive
periods during which the Debtor may file a plan of reorganization
and to solicit acceptances, through and including August 9, 2021,
and October 8, 2021, respectively. This is the first request to
extend the Exclusivity Periods.

The centerpiece of the Debtor's anticipated reorganization plan is
the modification of its mortgage on this condominium/hotel unit
located in Miami Beach, Florida. The Debtor's negotiations and
drafting of a reorganization plan were delayed in this case,
largely due to an improper post-petition foreclosure on this real
property, which was only recently overturned.

Now, the Debtor is in the process of submitting its detailed
financial disclosures to the mortgage servicer before completing
the modification negotiation process. The Debtor is confident that
a modification agreement will be reached, but the Debtor needs
additional time to complete these negotiations.

Additional time to complete this process would be in the best
interest of the Debtor and all creditors in this case as the
subject real property is beginning to see increased revenue due to
the relaxation of COVID-19 restrictions and the upcoming summer
months. A continued extension will secure a modification and
propose a reorganization plan based upon that modification will
greatly increase the Debtor's prospects in this case as it moves
toward confirmation.

The Debtor managed to maintain its operations, despite being slowed
and interrupted by COVID-19. In light of the increased business and
tourism activity in the area of Debtor's rental property, the
Debtor could reach confirmation with stronger reorganization
prospects than it had just a few months ago. As such, the viability
of this reorganization weighs in favor of providing the Debtor an
extension.

The additional time will be used to not just prepare and propose a
reorganization plan but to formulate a plan with as much support as
possible from its creditors. The early conversations with Selene
Financial, the Debtor's mortgage servicer, have been promising. The
Debtor needs additional time to complete the financial disclosure
process so that it can finalize the negotiations. In the event a
loan modification is reached, the Debtor does not anticipate its
reorganization plan will be strongly contested by its creditors.

The expedited hearing was scheduled for June 3, 2021, at 9:00 A.M.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3ftT0bB from PacerMonitor.com.

                         About Mustang Mining Company

Mustang Mining Company, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Texas Case No. 21-30257) on
February 9, 2021, listing under $1 million in both assets and
liabilities.

Judge Harlin Dewayne Hale oversees the case. Stephanie D. Curtis,
Esq., at Curtis Castillo PC, is the Debtor's legal counsel.

No trustee, examiner, or official committee has been appointed in
the Reorganization Case.


NATIONAL RIFLE ASSOCIATION: Unforced Errors Ensured Ch.11 Dismissal
-------------------------------------------------------------------
Law360 reports that the National Rifle Association's expulsion from
Chapter 11 was set in motion the moment it filed a series of
actions and statements about its goals and financial strength that
belied any notion of true insolvency or good faith, experts told
Law360.

On the day of its petition filing, the NRA launched a Web site
filled with press releases touting its strong financial position
and communicating the goals it hoped to achieve through the
bankruptcy case, namely its desire to "dump New York" and its
unfriendly regulatory environment for the more welcoming land of
Texas.  Bankruptcy experts say these statements doomed any hope for
NRA.

                About National Rifle Association

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, the 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.


NCR CORPORATION: Egan-Jones Keeps B- Senior Unsecured Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'B-'
foreign currency and local currency senior unsecured ratings on
debt issued by Ncr Corporation. EJR also maintained its 'B' rating
on commercial paper issued by the Company.

Headquartered in Atlanta, Georgia, Ncr Corporation was founded in
1915.



NK H ST: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: NK H St, LLC
        1835 Benning Road NE
        Washington, DC 20002

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

Chapter 11 Petition Date: May 20, 2021

Court: United States Bankruptcy Court
       District Of Columbia

Case No.: 21-00139

Judge: Hon. Elizabeth L. Gunn

Debtor's Counsel: Anitra Ash-Shakoor, Esq.
                  CAPITAL JUSTICE ATTORNEYS, LLP
                  1325 G Street NW
                  Suite 500
                  Washington, DC 20005
                  Tel: (202) 465-0888
                  Fax: (202) 827-0089
                  E-mail: a.ashshakoor@capitaljustice.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Napoleon Ibiezugbe, managing member.

The Debtor stated it has no creditors holding unsecured claims.

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

https://www.pacermonitor.com/view/WYWRACA/NK_H_St_LLC__dcbke-21-00139__0001.0.pdf?mcid=tGE4TAMA


NORTHERN HOLDINGS: Vineyard Assets for Sale in Bankruptcy Auction
-----------------------------------------------------------------
Cyril Penn of Wine Business.com reports that two Paso Robles
properties leased by Rabbit Ridge Winery -- a 310-acre vineyard
with a winery -- and a hilltop estate on 160 acres -- are being put
up for sale in connection with a Chapter 11 case filed by Northern
Holdings, LLC, a holding company affiliated with Rabbit Ridge owner
Erich Russell.

Per court order, the properties are being marketed by Hilco Real
Estate with an initial bidding deadline of June 10, 2021.  Built in
2002, the 45,000 square foot winery's permit allows for 400,000
cases of annual production.

Some of the vineyards need to be replanted.

Northern Holdings LLC filed for Chapter 11 in the U.S. Bankruptcy
Court's Central District of California Northern Division last year
(Case No. 20-bk-13014).  It gets complicated and convoluted, but in
court filings Farm Credit said it has been in workout mode with
Rabbit Ridge owner Erich Russell for several years -- that there
are at least four workout agreements involved -- and claims
penalties and interest bring the total Farm Credit is owed to $19
million but that it would accept $15.4 million to deem the
indebtedness to be paid in full.  The county is owed $3 million in
back taxes on one of the properties.

Northern Holdings managing partner Lee Codding told WBM that
depending on how sale and recapitalization efforts go, Rabbit Ridge
may move operations to a different facility in the area and expects
to continue sourcing grapes from the vineyards involved on a
contract basis. He’s aiming for recapitalizing with Rabbit Ridge
emerging debt free, even if a bankruptcy trustee recently filed a
motion asking the judge to convert the case to a Chapter 7.

Codding said an appraisal was performed in March 2020 for a
third-party and that assuming an 11 percent to 12 percent
appreciation for area real estate and vineyards in the ensuing
period, the value of the assets ranges between $30.5 million and
$33 million.

Codding said he would like to find a new source of lending to take
out Farm Credit and to retain the 160-acre Live Oak Vineyard site.
Regardless of how things work out, however, he said Rabbit Ridge is
operating as an entity independent of the properties, is working on
a rebranding and relaunch (see below), and is working with a new
national sales agent based in Phoenix.

A tasting room located at the winery property in Paso Robles closed
when the Covid-19 lockdowns started in 2020. The tasting room will
reopen this Friday.

At one point, Rabbit Ridge produced more than 250,000 cases but
over time volume declined with lost placements and a natural
erosion of brand presence. Trader Joe's was a big part of the
business many years ago.

Rabbit Ridge currently produces about 15,000 cases.

Rabbit Ridge is no stranger to controversy.  Two decades ago the
winery was based in Sonoma County but moved production to Paso
Robles and sold its tasting room and Sonoma winery following a
battle with the county over unpermitted buildings.  In 2001, Rabbit
Ridge agreed to pay TTB $810,000 to settle charges that it
mislabeled wines.

                     About Northern Holdings

Northern Holdings, LLC, is a Minnesota LLC created on April 30,
2012, for the purpose of acquiring and restructuring a wine
importer and distribution company in St. Paul, Minn.

Northern Holdings filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
20-13014) on Oct. 28, 2020, to stop a foreclosure sale of its real
properties by lienholder Farm Credit and to reorganize its
financial affairs.  In the petition signed by Leroy Codding,
managing member, the Debtor estimated $10 million to $50 million in
both assets and liabilities.  Judge Mark S. Wallace oversees the
case.  Matthew D, Resnik, Esq., at Resnik Hayes Moradi, LLP, is the
Debtor's legal counsel.


NORTHWEST BIOTHERAPEUTICS: Incurs $4.1-Mil. Net Loss in 1st Quarter
-------------------------------------------------------------------
Northwest Biotherapeutics, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $4.12 million on $239,000 of total revenues for the
three months ended March 31, 2021, compared to net income of $2.63
million on $570,000 of total revenues for the three months ended
March 31, 2020.

As of March 31, 2021, the Company had $32.46 million in total
assets, $385.66 million in total liabilities, and a total
stockholders' deficit of $353.20 million.

The Company has incurred annual net operating losses since its
inception.  The Company used approximately $13.2 million of cash in
its operating activities for the three months ended March 31, 2021.
Management believes that the Company has access to capital
resources through the sale of equity and debt financing
arrangements.  However, the Company has not secured any commitments
for new financing for this specific purpose at this time.

Northwest Biotherapeutics said, "The Company does not expect to
generate material revenue in the near future from the sale of
products and is subject to all of the risks and uncertainties that
are typically faced by biotechnology companies that devote
substantially all of their efforts to R&D and clinical trials and
do not yet have commercial products.  The Company expects to
continue incurring annual losses for the foreseeable future.  The
Company's existing liquidity is not sufficient to fund its
operations, anticipated capital expenditures, working capital and
other financing requirements until the Company reaches significant
revenues.  Until that time, the Company will need to obtain
additional equity and/or debt financing, especially if the Company
experiences downturns in its business that are more severe or
longer than anticipated, or if the Company experiences significant
increases in expense levels resulting from being a publicly-traded
company or from expansion of operations.  If the Company attempts
to obtain additional equity or debt financing, the Company cannot
assume that such financing will be available to the Company on
favorable terms, or at all.

"Because of recurring operating losses and operating cash flow
deficits, there is substantial doubt about the Company's ability to
continue as a going concern within one year from the date of this
filing.  The condensed consolidated financial statements have been
prepared assuming that the Company will continue as a going
concern, and do not include any adjustments to reflect the possible
future effects on the recoverability and classification of assets,
or the amounts and classification of liabilities that may result
from the outcome of this uncertainty.

"As also previously reported, coronavirus-related difficulties have
impacted most aspects of the database lock and process of analyzing
the Phase III trial results, especially with the successive waves
of COVID cases in many areas.  The independent service firms have
had limited capacity, and restrictions on operations.  Key experts
at certain specialized service providers have been unavailable for
periods of time due to illness in their family.  Other experts have
gone on extended leave due to restrictions on operations.  Clinical
trial site personnel have been unavailable due to being reassigned
for COVID, and the limited site personnel have had to work under
restrictions.  Committee processes and regulatory processes have
been similarly focused on COVID matters and delayed on other
matters.  Firms such as the ones storing the Phase III trial tissue
samples that are needed for certain analyses, and the firms
conducting the analyses, continue to have had only limited
operations.  Even logistical matters such as the shipping of
materials have been subjected to substantial restrictions and
delays."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1072379/000110465921068299/nwbo-20210331x10q.htm

                 About Northwest Biotherapeutics

Headquartered in Bethesda, MD, Northwest Biotherapeutics, Inc. --
www.nwbio.com -- is a biotechnology company focused on developing
personalized immune therapies for cancer.  The Company has
developed a platform technology, DCVax, which uses activated
dendritic cells to mobilize a patient's own immune system to attack
their cancer.

The Company reported a net loss of $529.82 million for the year
ended Dec. 31, 2020, compared to a net loss of $20.81 million for
the year ended Dec. 31, 2019.

Tampa, Florida-based Cherry Bekaert LLP, the Company's auditor
since 2021, issued a "going concern" qualification in its report
dated March 31, 2021, citing that the Company has recurring losses
and negative cash flows from operations that raise substantial
doubt about its ability to continue as a going concern.


NOV INCORPORATED: Egan-Jones Keeps B+ Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on May 6, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by NOV Incorporated.

Headquartered in Houston, Texas, NOV Incorporated offers equipment
and components used in oil and gas drilling and production
operations, oilfield services, and supply chain integration
services to the upstream oil and gas industry.



NUZEE INC: Incurs $6.1 Million Net Loss in Second Quarter
---------------------------------------------------------
Nuzee, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $6.09
million on $414,064 of revenues for the three months ended March
31, 2021, compared to a net loss of $2.52 million on $393,392 of
revenues for the three months ended March 31, 2020.

For the six months ended March 31, 2021, the Company reported a net
loss of $11.98 million on $932,051 of revenues compared to a net
loss of $5.95 million on $939,600 of revenues for the six months
ended March 31, 2020.

As of March 31, 2021, the Company had $17.33 million in total
assets, $1.84 million in total liabilities, and $15.49 million in
total stockholders' equity.

The Company stated, "Since our inception in 2011, we have incurred
significant losses, and as of March 31, 2021, we had an accumulated
deficit of approximately $46 million.  We have not yet achieved
profitability, and anticipate that we will continue to incur
significant sales and marketing expenses prior to recording
sufficient revenue from our operations to offset these expenses.
We expect to incur additional losses as a result of the costs
associated with operating as an exchange-listed public company in
the future.  To date, we have funded our operations primarily with
proceeds from equity offerings."

"Our principal use of cash is to fund our operations, which
includes the commercialization of our pour over coffee products,
the continuation of efforts to improve our products, administrative
support of our operations and other working capital requirements."

"We may need to raise additional funds to support our operating
activities, and such funding may not be available to us on
acceptable terms, or at all.  If we are unable to raise additional
funds when needed, our operations and ability to execute our
business strategy could be adversely affected.  We may seek to
raise additional funds through equity, equity-linked or debt
financings. If we raise additional funds through the incurrence of
indebtedness, such indebtedness would have rights that are senior
to holders of our equity securities and could contain covenants
that restrict our operations.  Any additional equity financing may
be dilutive to our stockholders."

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

https://www.sec.gov/Archives/edgar/data/1527613/000149315221011860/form10-q.htm

                            About Nuzee

NuZee, Inc. (d/b/a Coffee Blenders) is a specialty coffee company
and a single-serve pour-over coffee producer and co-packer.  The
Company owns sophisticated packing equipment developed in Asia for
pour over coffee production and it believes its long-standing
experience with this equipment and associated pour over filters,
and its relationships with their manufacturers provide the Company
with an advantage over its North American competitors.

Nuzee reported a net loss of $9.52 million for the year ended Sept.
30, 2020, compared to a net loss of $12.21 million for the year
ended Sept. 30, 2019.  As of Dec. 31, 2020, the Company had $8.97
million in total assets, $1.27 million in total liabilities, and
$7.69 million in total stockholders' equity.


ONDAS HOLDINGS: Incurs $3.1 Million Net Loss in First Quarter
-------------------------------------------------------------
Ondas Holdings Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $3.14 million on $1.16 million of net revenues for the three
months ended March 31, 2021, compared to a net loss of $2.81
million on $200,198 of net revenues for the three months ended
March 31, 2020.

As of March 31, 2021, the Company had $26.95 million in total
assets, $12.24 million in total liabilities, and $14.71 million in
total stockholders' equity.

The Company has incurred losses since inception and has funded its
operations primarily through debt and the sale of capital stock.
On March 31, 2021, the Company had stockholders' equity of
approximately $14,709,000, net short and long-term borrowings
outstanding of approximately $7,169,000 and $862,000, respectively,
cash of approximately $24,026,000 and working capital of
approximately $14,860,000.

In December 2020, the Company completed a registered public
offering of its common stock, generating net proceeds of
approximately $31,254,000.  The Company believes the funds raised
in the December 2020 equity offering, in addition to growth in
revenue expected as the Company executes its business plan, will
fund its operations for at least the next twelve months from the
issuance date of these financial statements.

Ondas said, "Our future capital requirements will depend upon many
factors, including progress with developing, manufacturing and
marketing our technologies, the time and costs involved in
preparing, filing, prosecuting, maintaining and enforcing patent
claims and other proprietary rights, our ability to establish
collaborative arrangements, marketing activities and competing
technological and market developments, including regulatory changes
and overall economic conditions in our target markets.  Our ability
to generate revenue and achieve profitability requires us to
successfully market and secure purchase orders for our products
from customers currently identified in our sales pipeline as well
as new customers.  We also will be required to efficiently
manufacture and deliver equipment on those purchase orders.  These
activities, including our planned research and development efforts,
will require significant uses of working capital.  There can be no
assurance that we will generate revenue and cash as expected in our
current business plan.  We may seek additional funds through equity
or debt offerings and/or borrowings under additional notes payable,
lines of credit or other sources.  We do not know whether
additional financing will be available on commercially acceptable
terms or at all, when needed.  If adequate funds are not available
or are not available on commercially acceptable terms, our ability
to fund our operations, support the growth of our business or
otherwise respond to competitive pressures could be significantly
delayed or limited, which could materially adversely affect our
business, financial condition or results of operations."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1646188/000121390021027188/f10q0321_ondasholdings.htm

                     About Ondas Holdings Inc.

Ondas Holdings Inc., through its wholly owned subsidiary, Ondas
Networks Inc., is a developer of proprietary, software-based
wireless broadband technology for large established and emerging
industrial markets.  The Company's standards-based, multi-patented,
software-defined radio FullMAX platform enables Mission-Critical
IoT (MC-IoT) applications by overcoming the bandwidth limitations
of today's legacy private licensed wireless networks.  Ondas
Networks' customer end markets include railroads, utilities, oil
and gas, transportation, aviation (including drone operators) and
government entities whose demands span a wide range of mission
critical applications.  These markets require reliable, secure
broadband communications over large and diverse geographical areas,
many of which are within challenging radio frequency environments.
Customers use the Company's FullMAX technology to deploy their own
private licensed broadband wireless networks.  The Company also
offers mission-critical entities the option of a managed network
service. Ondas Networks' FullMAX technology supports IEEE 802.16s,
the new worldwide standard for private licensed wide area
industrial networks.  For additional information, visit
www.ondas.com.

Ondas Holdings reported a net loss of $13.48 million for the year
ended Dec. 31, 2020, compared to a net loss of $19.39 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$28.51 million in total assets, $13.43 million in total
liabilities, and $15.08 million in total stockholders' equity.


PARKERVISION INC: Incurs $2.5 Million Net Loss in First Quarter
---------------------------------------------------------------
Parkervision, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.47 million on zero product revenue for the three months ended
March 31, 2021, compared to a net loss of $7.92 million on zero
product revenue for the three months ended March 31, 2020.

Jeffrey Parker, chairman and chief executive officer, commented,
"Investor support in the first quarter of 2021 allowed us to
strengthen our balance sheet significantly.  In addition, our
litigation efforts are focused on our case against Qualcomm in
Orlando, Florida and our cases against Intel and others in Texas
which are fully funded allowing us to better manage our expenses."

Parker continued, "With the Orlando court maintaining the current
schedule for motions and pre-trial statements, we are hopeful that
we will receive notification from the court in the near term as to
the new Qualcomm trial date.  In addition, with Markman hearings in
our Texas cases scheduled less than six months away, we look
forward to reporting on-going meaningful milestones the balance of
2021 and into early 2022."

As of March 31, 2021, the Company had $5.07 million in total
assets, $45.16 million in total liabilities, and a total
shareholders' deficit of $40.09 million.

The Company has incurred significant losses from operations and
negative cash flows from operations in every year since inception
and has utilized the proceeds from the sales of debt and equity
securities and contingent funding arrangements with third parties
to fund its operations, including the cost of litigation.  For the
three months ended March 31, 2021, the Company had negative cash
flows from operations of approximately $5.0 million.  At March 31,
2021, the Company had cash and cash equivalents of approximately
$2.2 million and an accumulated deficit of approximately $423.5
million.  Additionally, a significant amount of future proceeds
that the Company may receive from its patent enforcement and
licensing programs will first be utilized to repay borrowings and
legal fees and expenses under its contingent funding arrangements.
The Company said these circumstances raise substantial doubt about
its ability to continue to operate as a going concern for a period
of one year following the issue date of these condensed
consolidated financial statements.

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

https://www.sec.gov/Archives/edgar/data/914139/000091413921000020/prkr-20210331x10q.htm

                         About Parkervision

Headquartered in Jacksonville, Florida, ParkerVision, Inc.
(http://www.parkervision.com)has designed and developed
proprietary radio-frequency (RF) technologies that enable advanced
wireless solutions for current and next generation wireless
communication products.  ParkerVision is engaged in a number of
patent enforcement actions in the U.S. to protect patented rights
that it believes are broadly infringed by others.

Parkervision reported a net loss of $19.58 million for the year
ended Dec. 31, 2020, compared to a net loss of $9.45 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$4.46 million in total assets, $48.28 million in total liabilities,
and a total shareholders' deficit of $43.82 million.

Fort Lauderdale, Florida-based MSL, P.A., the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated March 31, 2021, citing that the Company has suffered
recurring losses from operations and has a net capital deficiency
that raise substantial doubt about its ability to continue as a
going concern.


PATRICIAN HOTEL: June 29 Disclosure Statement Hearing Set
---------------------------------------------------------
Judge Robert A. Mark sets for June 29, 2021 at 1:30 p.m., via Zoom
Video Conference, the hearing to consider the adequacy of the
Disclosure Statement to the Chapter 11 Plan of Patrician Hotel, LLC
and its debtor affiliates.

Deadline to serve the order, the Disclosure Statement and the Plan
to parties-in-interest is May 31, 2021.

Objections to the Disclosure Statement must be filed by June 22,
2021.

A copy of the order is available for free at https://bit.ly/3oq2uZe
from PacerMonitor.com.

                     About Patrician Hotel LLC

Based in Miami Beach, Fla., Patrician Hotel, LLC and three
affiliates filed voluntary petitions under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 19-25290) on
November 14, 2019, listing under $1 million in both assets and
liabilities.

Judge Robert A. Mark oversees the case.

Robert F. Reynolds, Esq. at Slatkin & Reynolds, P.A., represents
the Debtor.  The Debtors tapped DWNTWN Realty Advisors, LLC, as
their real estate broker.


PIER 1 IMPORTS: Egan-Jones Keeps B+ Senior Unsecured Ratings
------------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by Pier 1 Imports, Inc.

Headquartered in Fort Worth, Texas, Pier 1 Imports, Inc. retails
decorative home furnishings, gifts, and related items.



POLAR POWER: Incurs $1.9 Million Net Loss in First Quarter
----------------------------------------------------------
Polar Power, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $1.90
million on $3.29 million of net sales for the three months ended
March 31, 2021, compared to a net loss of $201,000 on $2.86 million
of net sales for the three months ended March 31, 2020.

As of March 31, 2021, the Company had $28.60 million in total
assets, $5.84 million in total liabilities, and $22.76 million in
total stockholders' equity.

"The Company continues to monitor the evolving COVID-19 pandemic
and related guidance from international and domestic authorities,
including federal, state and local public health authorities and it
may need to make changes to its business based on their
recommendations.  COVID-19 has had, and is likely to continue to
have, a material and substantial adverse impact on the Company's
results of operations including, among others, a decrease in the
Company's sales and delays in sourcing of raw materials from
suppliers.  The Company's business is directly dependent upon, and
correlates closely with, the marketing levels and ongoing business
activities of its existing customers and suppliers.  In the event
of a continued widespread economic downturn caused by COVID-19, the
Company will likely experience a further reduction in current
projects, longer sales and collection cycles, deferral or delay of
purchase commitments for our DC power systems, a reduction in its
manufacturing functionality, higher than normal inventory levels, a
reduction in the availability of qualified labor, and increased
price competition, all of which could substantially adversely
affect its net revenues and its ability to remain a going concern,"
Polar Power said.

"The extent of the impact of COVID-19 on our operational and
financial performance will depend on certain developments,
including the duration and potential resurgence of the outbreak,
the impact on our customers and our sales cycles, the impact on our
customer, employee or industry events, and the effect on our
vendors, all of which are uncertain and cannot be predicted.  At
this point, we are uncertain of the full magnitude that the
COVID-19 pandemic may have on our financial condition, liquidity
and future results of operations," the Company said.

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

https://www.sec.gov/Archives/edgar/data/1622345/000149315221011951/form10-q.htm

                        About Polar Power

Headquartered in Gardena, California, Polar Power, Inc. designs,
manufactures and sells direct current, or DC, power generators,
renewable energy and cooling systems for applications primarily in
the telecommunications market and, to a lesser extent, in other
markets, including military, electric vehicle charging and
residential and commercial power.

Polar Power reported a net loss of $10.87 million for the year
ended Dec. 31, 2020, compared to a net loss of $4.04 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$17.80 million in total
assets, $6.31 million in total liabilities, and $11.49 million in
total stockholders' equity.


PPV INC.: Court Confirms Reorganization Plan
--------------------------------------------
Judge David W. Hercher has entered an order confirming the Plan of
Agua Holdings, Inc., formerly known as PPV, Inc. and Bravo
Environmental NW, Inc.

PPV, Inc. and Bravo Environmental NW, Inc., submitted a Third
Amended Joint Plan of Reorganization.

The key elements of the Plan are as follows:

     (1) The Plan is a joint plan presented by the Debtors, PPV,
Inc. ("PPV") and Bravo Environmental NW, Inc. ("Bravo") to address
the respective creditors of each bankruptcy estate.

     (2) Throughout the Plan, Creditors are designated as holding
claims against only one of the Debtors' estates or holding claims
against both estates. Creditors holding claims only against the PPV
bankruptcy estate are designated as "PPV Only." Creditors holding
claims only against the Bravo bankruptcy estate are designated as
"Bravo Only." Creditors holding claims against both the PPV
bankruptcy estate and the Bravo bankruptcy estate are designated as
"Both Estates."

     (3) The Plan contemplates sales of all or substantially all of
the assets of PPV and of Bravo to fund distributions to creditors
and equity claimants.  Such sales may be completed before
confirmation of the Plan or after confirmation.  Because of the
nature of the interests expressed by prospective buyers, and the
negotiations held with such prospective buyers, the Plan
contemplates two different sale transactions.  One sale would be
for all or substantially all of the assets of PPV (the "PPV Sale"),
excluding the stock of Bravo held by PPV. The other sale would be
for all or substantially all of the assets of Bravo (the "Bravo
Sale").

     (4) Upon completion of both the PPV Sale and the Bravo Sale,
the Debtors expect to have sufficient proceeds, after deduction of
attendant sales costs and resulting taxes, to pay all Allowed
Claims against PPV Only, Bravo Only, and Both Estates.

The Plan will treat claims as follows:

    * Classes 17A and 17B - PPV Administrative Convenience Class
(PPV Only) and Bravo Administrative Convenience Class (Bravo Only).
Class 17A is impaired.  Class 17A consists of Allowed Unsecured
Claims which are equal to or less than $1,000 against PPV. Each
holder of a Claim in such class will receive cash in an amount
equal to 100 percent of allowed amount of such Claim, without
interest, within 30 days following the Effective Date.  Class 17B
is impaired.  Class 17B consists of Allowed Unsecured Claims which
are equal to or less than $1,000 against Bravo.  Each holder of a
Claim in such class shall receive cash in an amount equal to 100
percent of allowed amount of such Claim, without interest, within
30 days following the closing of the Bravo Sale.

    * Classes 18A and 18B - PPV General Unsecured Claims (PPV Only)
and Bravo General Unsecured Claims (Bravo Only). Class 18A is
impaired. Each holder of a Claim in such class shall receive cash
in an amount equal to 100 percent of allowed amount of such Claim,
without interest, on the later of (a) 90 days after the Effective
Date or (b) the Allowance Date, unless such holder shall agree, or
has agreed, in writing to a different treatment of such Claim(s).

    * Class 19 - David R. Burns (PPV Only). Class 19 is impaired.
The Claim within Class 19 has been resolved by agreement for
allowance as an Unsecured Claim in the amount of $1,900,000 and
shall be paid, without interest, as follows: (a) $1,400,000.00 cash
on or before the time set for payment of Class 18A Claims  and (b)
$500,000 cash on the earlier of (1) the time for distribution on
Class 18B Claims or (2) within 14 days after payment in full to
Class 1A Claims and the release of the MetaBank Holdback .

    * Class 20 - Unclassified Creditors (Both Estates).  After
closing of the PPV Sale, payment of all resulting costs and taxes
from the sale, payment of all allowed Administrative Claims,
payment to Claims in Classes Claims in Classes 1A, 1B, 4, 5A, 5B,
6, 7, 8, 9, 10, 11, 13A, 14A, 15, 17A, and 18A, and the Initial
Payment to the Claim in Class 19, the remaining sale proceeds shall
be made available for distribution to PPV Equity Holders (the
"Remaining Sale Proceeds").  Such distribution shall be made on or
before 180 days after the Effective Date.

Attorneys for the Debtors:

     Douglas R. Ricks
     VANDEN BOS & CHAPMAN, LLP:
     319 SW Washington St., Ste. 520
     Portland, OR 97204
     Telephone: 503-241-4869
     Fax: 503-241-3731

A copy of the Notice is available at https://bit.ly/3v6hRIY from
PacerMonitor.com.

                         About PPV, Inc.

PPV, Inc. -- https://www.ppvnw.com/ -- is a waste management
services provider in Portland, Oregon.  The company offers
industrial cleaning, recycling, treatment, and technical waste
management services.

PPV, Inc., filed a petition under Chapter 11 of the Bankruptcy Code
(Bankr. D. Ore. Lead Case No. 19-34517) on Dec. 10, 2019.  In the
petition signed by Joseph J. Thuney, president, the Debtor
disclosed between $1 million and $10 million in both assets and
liabilities.  

Douglas R. Ricks, Esq. at Vanden Bos & Chapman, LLP, is the
Debtor's counsel.

Affiliate Bravo Environmental NW, Inc., also filed for Chapter 11
bankruptcy (Bankr. D. Ore. Case 19-34518) on Dec. 10, 2019.

The cases are jointly administered before the Honorable David W.
Hercher.  No creditors' committee has been appointed in this case.


PRESSURE BIOSCIENCES: Incurs $6.6-Mil. Net Loss in First Quarter
----------------------------------------------------------------
Pressure Biosciences, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $6.58 million on $559,874 of total revenue for the three months
ended March 31, 2021, compared to a net loss of $3.95 million on
$253,873 of total revenue for the three months ended March 31,
2020.

As of March 31, 2021, the Company had $2.48 million in total
assets, $23.01 million in total liabilities, and a total
stockholders' deficit of $20.53 million.

The Company stated, "The accompanying financial statements have
been prepared assuming that the Company will continue as a going
concern, which contemplates the realization of assets and the
liquidation of liabilities in the normal course of business.
However, we have experienced losses from operations and negative
cash flows from operations with respect to our pressure cycling
technology business since our inception.  As of March 31, 2021, we
do not have adequate working capital resources to satisfy our
current liabilities and as a result, there is substantial doubt
regarding our ability to continue as a going concern.  We have been
successful in raising debt and equity capital in the past.  In
addition we raised debt and equity capital after March 31, 2021.
We have financing efforts in place to continue to raise cash
through debt and equity offerings. Although we have successfully
completed financings and reduced expenses in the past, we cannot
assure you that our plans to address these matters in the future
will be successful.  These financial statements do not include any
adjustments that might result from this uncertainty."

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

https://www.sec.gov/Archives/edgar/data/830656/000149315221011954/form10-q.htm

                    About Pressure Biosciences

South Easton, Mass.-based, Pressure Biosciences Inc. --
http://www.pressurebiosciences.com-- develops and sells
innovative, broadly enabling, pressure-based platform solutions for
the worldwide life sciences industry. Its solutions are based on
the unique properties of both constant (i.e., static) and
alternating (i.e., pressure cycling technology, or "PCT")
hydrostatic pressure.  PCT is a patented enabling technology
platform that uses alternating cycles of hydrostatic pressure
between ambient and ultra-high levels to safely and reproducibly
control bio-molecular interactions (e.g., cell lysis, biomolecule
extraction).

Pressure Biosciences reported a net loss of $16 million for the
year ended Dec. 31, 2020, compared to a net loss of $11.66 million
for the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company
had $2.30 million in total assets, $19.22 million in total
liabilities, and a total stockholders' deficit of $16.92 million.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
April 15, 2021, citing that the Company has a working capital
deficit, has incurred recurring net losses and negative cash flows
from operations.  These conditions raise substantial doubt about
its ability to continue as a going concern.


R.R. DONNELLEY: Egan-Jones Keeps CCC+ Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on May 5, 2021, maintained its 'CCC+'
foreign currency and local currency senior unsecured ratings on
debt issued by R. R. Donnelley & Sons Company. EJR also upgraded
the rating on commercial paper issued by the Company to B from C.

Headquartered in Chicago, Illinois, R. R. Donnelley & Sons Company
provides commercial printing and information services.



RESTORNATIONS: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The U.S. Trustee for Region 16 on May 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Restornations.
  
                        About Restornations
  
Restornations sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. C.D. Calif. Case No. 21-10500) on March 24, 2021.  At
the time of the filing, the Debtor disclosed total assets of up to
$10 million and liabilities of up to $500,000.  Judge Victoria .
Kaufman oversees the case.  Michael E. Plotkin, Esq., is the
Debtor's legal counsel.


ROCKVILLE DIOCESE: Judge Okays Ex-Adviser Appointment as Mediator
-----------------------------------------------------------------
Soma Biswas of The Wall Street Journal reports that the judge
overseeing the Diocese of Rockville Centre's bankruptcy approves
hiring of Arthur Gonzalez as a mediator, despite a government
objection.

The bankruptcy judge cleared the Diocese of Rockville Centre, N.Y.,
to hire Mr. Gonzalez as a special mediator to help resolve claims
by sex-abuse victims over real estate and other assets that have
been sold or transferred to other parts of the institution.

At a hearing Thursday, May 13, 2021, in the U.S. Bankruptcy Court
in New York, Judge Shelley Chapman signed off on a compromise
between the Roman Catholic diocese and a panel of abuse survivors
that allows for the hiring of Mr. Gonzalez, a former bankruptcy
judge, to help resolve sex-abuse claims.

                      About The Roman Catholic
                Diocese of Rockville Centre, New York

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

The Roman Catholic Diocese of Rockville Centre, New York, filed a
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 20-12345) on Sept.
30, 2020. The Diocese was estimated to have $100 million to $500
million in assets and liabilities as of the filing.

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

The Diocese tapped Jones Day as legal counsel, Alvarez & Marsal
North America, LLC, as restructuring advisor, and Sitrick and
Company, Inc., as communications consultant. Epiq Corporate
Restructuring, LLC, is the claims agent.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Chapter 11 case.  The Committee retained
Pachulski Stang Ziehl & Jones LLP as its legal counsel.


ROMANS HOUSE: McConnell Approved as Chapter 11 Trustee
------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
approved the appointment of Michael A. McConnell as Chapter 11
Trustee for Romans House, LLC and Healthcore System Management, LLC
on May 17, 2021.

A copy of the order is available for free at https://bit.ly/33Zn35w
from PacerMonitor.com.

                        About Romans House

Based in Fort Worth, Texas, Romans House, LLC operates Tandy
Village Assisted Living, a continuing care retirement community and
assisted living facility for the elderly in Fort Worth, Texas.
Affiliate Healthcore System Management, LLC, operates Vincent
Victoria Village Assisted Living, also an assisted living facility
for the elderly.

Romans House, LLC, and Healthcore System sought Chapter 11
protection (Bankr. N.D. Tex. Case No. 19-45023 and 19-45024) on
Dec. 9, 2019.

Romans House was estimated to have $1 million to $10 million in
assets and liabilities while Healthcore was estimated to have $1
million to $10 million in assets and $10 million to $50 million in
liabilities.

The Hon. Edward L. Morris is the case judge.

Demarco Mitchell, PLLC, is the Debtors' legal counsel.  Levene,
Neale, Bender, Yoo & Brill L.L.P., serves as their co-bankruptcy
counsel.  Susan N. Goodman is appointed as the Debtors' Patient
Care Ombudsman.

Pender Capital Asset Based Lending Fund I, LP, as lender is
represented by Ross and Smith, P.C.



RYDER SYSTEM: Egan-Jones Keeps BB- Senior Unsecured Ratings
-----------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Ryder System, Inc.

Headquartered in Miami, Florida, Ryder System, Inc. provides a
continuum of logistics, supply chain, and transportation management
solutions worldwide.



SECURE HOME: Seeks to Hire 'Ordinary Course' Professionals
----------------------------------------------------------
Secure Home Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire
"ordinary course" professionals to provide services in matters
unrelated to their Chapter 11 cases.

The request, if granted, would allow the Debtors to hire OCPs
without filing separate employment and fee applications.

The OCPs are:

     Mitchell Silberberg & Knupp LLP
     -- Outside Employment, Wage and Labor Counsel
     -- Monthly Fee Cap: $25,000

     Fisher & Phillips LLP
     -- Outside Employment, Wage, Labor and OSHA Counsel
     -- Monthly Fee Cap: $20,000

     CBIZ Accounting, Tax & Advisory, LLC
     -- Accounting/Financial Auditor
     -- Monthly Fee Cap: $36,000

     RSM US LLP
     -- Tax Advisor and Preparer + Escheat Audit
     -- Monthly Fee Cap: $22,000

     Torrillo & Associates 401(k)
     -- Auditor
     -- Monthly Fee Cap: $5,000

     Goodwin Proctor LLP
     -- Corporate and Employment Counsel
     -- Monthly Fee Cap: $27,000

     Locke Lord LLP PPP
     -- Counsel
     -- Monthly Fee Cap: $10,000

     Chaumont Law Inc  
     -- General Legal Counsel
     -- Monthly Fee Cap: $5,000

     Wissing Miller LLP
     -- General Legal Counsel
     -- Monthly Fee Cap: $3,000

     Carlisle Law, LLC
     -- General Legal Counsel
     -- Monthly Fee Cap: $4,000

                    About Secure Home Holdings

Newtown Square, Pa.-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).  At the time of the filing, Secure Home had between $100
million and $500 million in both assets and liabilities.

Judge J. Kate Stickles oversees the cases.

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 and noticing agent.


SECURE HOME: Seeks to Hire Chipman Brown as Legal Counsel
---------------------------------------------------------
Secure Home Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Chipman
Brown Cicero & Cole, LLP as their legal counsel.

The firm's services include:

     (a) providing legal advice with respect to the Debtors' powers
and duties in the continued operation of their businesses and
management of their properties;

      (b) negotiating, drafting and pursuing all documentation
necessary in the Debtors' Chapter 11 cases;

      (c) preparing legal papers;

      (d) appearing in court;

      (e) assisting with any disposition of the Debtors' assets by
sale or otherwise;

      (f) negotiating and taking all necessary actions in
connection with a plan of reorganization and all related documents
and transactions;

      (g) attending meetings and negotiating with representatives
of creditors, the U.S. trustee and other parties-in-interest;

      (h) providing legal advice regarding bankruptcy law,
corporate law, corporate governance, transactional, litigation and
other issues to the Debtors in connection with their ongoing
business operations; and

      (i) performing all other legal services necessary to
administer the bankruptcy cases.

The firm will be paid at these rates:

     William E. Chipman, Jr.  $650 per hour
     Robert A. Weber          $650 per hour
     Mark D. Olivere          $500 per hour
     Michelle M. Dero         $250 per hour
     Partners       $475 to $650 per hour
     Associates     $275 to $300 per hour
     Paralegals         $250 per hour

Robert Weber, Esq., a partner at Chipman, disclosed in a court
filing that the firm is a "disinterested person" under Section
101(14) of the Bankruptcy Code.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Mr.
Weber disclosed that:

     -- Chipman has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement.

     -- None of the professionals included in the engagement vary
their rate based on the geographic location of the bankruptcy
case.

     -- Chipman has represented the Debtors since Feb. 23, 2021 in
connection with restructuring advice. The billing rates and
material financial terms of the firm's engagement have not changed
post-petition from the pre-bankruptcy arrangement.

     -- Chipman has worked closely with the Debtors on developing
an estimated budget and staffing plan for approximately the first
eight weeks of these proceedings.

The firm can be reached through:

     William E. Chipman, Jr., Esq.
     Robert W. Weber, Esq.
     Mark D. Olivere, Esq.
     Chipman Brown Cicero & Cole, LLP
     Hercules Plaza
     1313 North Market Street, Suite 5400
     Wilmington, DE 19801
     Tel: (302) 295-0191
     Email: chipman@chipmanbrown.com
            weber@chipmanbrown.com
            olivere@chipmanbrown.com

                    About Secure Home Holdings

Newtown Square, Pa.-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).  At the time of the filing, Secure Home had between $100
million and $500 million in both assets and liabilities.

Judge J. Kate Stickles oversees the cases.

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 and noticing agent.


SECURE HOME: Seeks to Hire M3 Advisory, Appoint CROs
----------------------------------------------------
Secure Home Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire M3
Advisory Partners, LP and appoint Mohsin Meghji and Keshav Lall as
chief restructuring officers.

The firm's services include:

     (a) engaging advisors to the Debtors;

     (b) preparing and proposing any of the Debtors' updated
eight-week rolling cash flow forecast and liquidity metrics
forecast;

     (c) attending and participating in meetings of the board of
directors;

     (d) opening and closing bank accounts for the Debtors,
transfer funds of the Debtors, settle or compromise litigation and
other disputes involving the Debtors, and cause the Debtors to take
any action which the CRO, in good faith, determines to be
necessary, prudent or appropriate under the circumstances;

      (e) providing such support to the Debtors as is customary for
a chief restructuring officer;

      (f) reviewing the work of the Debtors' previous financial
advisor with management of the Debtors and, if required, assisting
the Debtors in the development and administration of their
short-term cash flow forecasting and related methodologies, as well
as their cash management planning;

      (g) providing such assistance as reasonably may be required
by management of the Debtors in connection with (i) development of
a business plan, (ii) any restructuring plans and strategic
alternatives intended to maximize the enterprise value and (iii)
any related forecasts that may be required by creditor
constituencies in connection with negotiations or by the Debtors
for other corporate purposes;

     (h) reporting to the board of directors on a regular basis
with respect to the restructuring process and provide oversight of
such process; and

      (i) assisting, if required, the Debtors in communications and
negotiations with their outside constituents, including creditors,
trade vendors and their respective advisors.

The firm will be paid at these rates:

     Managing Partner            $1,225 per hour
     Senior Managing Director    $1,100 per hour
     Managing Director           $925 to $1,050 per hour
     Director                    $750 to $850 per hour
     Vice President              $675 per hour
     Senior Associate            $575 per hour
     Associate                   $495 per hour
     Analyst                     $395 per hour

Mr. Meghji, managing partner at M3, disclosed in a court filing
that his firm is a "disinterested person" as that term is defined
by Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Mohsin Y. Meghji
     Keshav Lall
     M3 Advisory Partners, LP
     1700 Broadway, 19th Floor
     New York, NY 10019
     Phone: (212) 202-2300/(212) 202-2216
     Email: mmeghji@m3-partners.com
            klall@m3-partners.com

                    About Secure Home Holdings

Newtown Square, Pa.-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).  At the time of the filing, Secure Home had between $100
million and $500 million in both assets and liabilities.

Judge J. Kate Stickles oversees the cases.

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 and noticing agent.


SECURE HOME: Seeks to Hire Raymond James as Investment Banker
-------------------------------------------------------------
Secure Home Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Raymond
James & Associates, Inc. as their investment banker.

The firm will render these services:

     (a) assist the Debtors in reviewing and analyzing their
business, operations, properties and financial condition;

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

     (c) assist the Debtors in evaluating potential transaction
alternatives and strategies;

     (d) assist the Debtors in preparing documentation within
Raymond James' area of expertise that is required in connection
with a transaction;

     (e) assist the Debtors in identifying and evaluating
interested parties or prospects regarding one or more particular
transactions;

     (f) contact interested parties or prospects which Raymond
James, after consultation with the Debtors' management, believes
meet certain industry, financial, and strategic criteria, and
assist the Debtors in negotiating and structuring a transaction;

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

     (h) advise the Debtors on the timing, nature and terms of any
new securities, other considerations or other inducements to be
offered to their stakeholders in connection with any restructuring
transaction;

     (i) advise the Debtors as to potential business combination
transactions; and

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

The firm will be paid as follows:

     (a) Monthly Advisory Fee and Database Expense Amount. In
accordance with the engagement letter, the Debtors paid Raymond
James a fee of $150,000 on or before Aug. 15, 2020 and will pay the
advisory fee on the first business day of every month thereafter
during the term of the Agreement. Fifty percent of all advisory
fees received following the first four payments (i.e., following
the first $600,000 in total advisory fees paid) shall be credited
against the payment of any transaction fee that becomes due and
payable.


      (b) Financing Transaction Fee. If any financing transaction
closes, the Debtors shall pay Raymond James directly out of the
proceeds of the placement, at closing of each financing
transaction, a cash fee equal to the greater of (i) $2 million and
(ii) an amount equal to 2.50 percent of the proceeds of all debt
capital raised, plus 5 percent of equity or equity-linked
securities raised.

     (c) Restructuring Transaction Fee. If any restructuring
transaction closes, the Debtors shall pay Raymond James a cash fee
of $2.5 million.

     (d) Business Combination Transaction Fee. If any business
combination transaction closes, the Debtors shall pay Raymond James
immediately and directly out of the proceeds at the closing a cash
fee equal to the greater of (i) the minimum fee and (ii) the sum of
2 percent of that portion of "transaction value" equal to or less
than $200 million, plus 1.5 percent of that portion of transaction
value greater than $200 million and less than or equal to $400
million, plus 1 percent of that portion of transaction value
greater than $400 million.

     (e) If two or more different types of transactions are
consummated substantially concurrently, the Debtors shall pay only
one transaction fee, which shall be the greater of the financing
transaction fee, the restructuring transaction fee, or the business
combination transaction fee.

Geoffrey Richards, managing director at Raymond James, disclosed in
a court filing that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Geoffrey Richards
     Raymond James & Associates, Inc.
     880 Carillon Parkway
     St. Petersburg, FL 33716
     Phone: 727-567-1000

                    About Secure Home Holdings

Newtown Square, Pa.-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).  At the time of the filing, Secure Home had between $100
million and $500 million in both assets and liabilities.

Judge J. Kate Stickles oversees the cases.

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 and noticing agent.


SECURE HOME: Seeks to Hire Skadden Arps as Special Counsel
----------------------------------------------------------
Secure Home Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Skadden,
Arps, Slate, Meagher & Flom, LLP as their special counsel.

The Debtors need the firm's services related to their operational
restructuring and recapitalization.  These services include:

     (a) negotiating with senior secured lenders in connection with
capital raising efforts and evaluation of strategic alternatives;

     (b) representing the Debtors in tax matters and controversies;


     (c) representing the Debtors in issues concerning labor and
employment and in any strategic transactions, including in
connection with a Chapter 11 plan;

     (d) representing the Debtors with respect to the plan,
accompanying disclosure statement and any related plan documents;
and

     (e) advising the Debtors as to corporate transactions and
corporate governance, negotiations, out-of-court agreements with
creditors and prospective acquirors and investors, review and
preparation of agreements, court appearances and such other actions
as Skadden and the Debtors deem necessary.

The firm will be paid at these rates:

     Partners      $1,325 to $1,850 per hour
     Counsel       $1,190 to $1,390 per hour
     Associates     $515 to $1,180 per hour

Van Durrer, II, Esq., a member of Skadden, disclosed in court
filings that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Mr.
Durrer disclosed that:

     -- Skadden has agreed to bill non-working travel time at half
of the otherwise applicable hourly rate and the firm will not
continue to charge for disbursements that are not otherwise
compensable under Sections 330 and 331 of the Bankruptcy Code.

     -- None of the professionals included in the engagement vary
their rate based on the geographic location of the bankruptcy
case.

     -- Skadden represented the Debtors in the 12 months prior to
their Chapter filing. During that representation, on Jan. 1, 2021,
the firm raised its billing rates as it does customarily from time
to time.

     -- Skadden and the Debtors expect to develop a prospective
budget and staffing plan to comply with the U.S. trustee's requests
for information and additional disclosures, and any orders of the
court.

Skadden Arps can be reached at:

     Van C. Durrer, II, Esq.
     Skadden, Arps, Slate, Meagher & Flom LLP
     300 South Grand Avenue, Suite 3400
     Los Angeles, CA 90071-3144
     Tel: (213) 687-5000
     Fax: (213) 687-5600
     Email: Van.Durrer@skadden.com

                    About Secure Home Holdings

Newtown Square, Pa.-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).  At the time of the filing, Secure Home had between $100
million and $500 million in both assets and liabilities.

Judge J. Kate Stickles oversees the cases.

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 and noticing agent.


SEQUENTIAL BRANDS: Gives Execs Bonuses as Default Deadline Looms
----------------------------------------------------------------
Katherine Doherty of Bloomberg News reports that Sequential Brands
Group awarded two executives one-time cash retention bonuses
contingent on their "continued full-time employment" with the
company through events including a restructuring or liquidation,
according to a regulatory filing Tuesday, May 19, 2021.

According to the regulatory filing with the SEC, in recognition of
their valuable services to Sequential Brands Group, Inc., Mr. Chad
Wagenheim, President, and Ms. Lorraine DiSanto, Chief Financial
Officer, will receive one-time cash retention bonuses of $900,000
and $630,000, respectively, (each a "Retention Bonus") to be paid
in full within five days of their execution of a letter agreement.
The Retention Bonuses are being paid in consideration of their
continued full-time employment with the Company in good standing
and their continuing best efforts in performing services for the
Company, including in connection with any strategic transaction,
restructuring, liquidation, wind-up or other significant corporate
event involving the Company.  

Mr. Wagenheim and Ms. DiSanto will be required to repay their
entire Retention Bonus should they resign or be terminated for
cause prior to the earliest of (i) the completion of any strategic
transaction, reorganization, restructuring, wind-up or liquidation
of the Company, (ii) January 31, 2022, or (iii) such date as their
services are no longer needed, as determined by the Company in its
sole discretion. In addition, effective May 15, 2021, Ms. DiSanto's
annual base salary was increased to $420,000. The letter agreements
also include a mutual release of claims, a non-disparagement clause
and other customary terms and conditions.

                      About Sequential Brands

Sequential Brands Group, together with its subsidiaries, owns
various consumer brands. The company licenses its brands for a
range of product categories, including apparel, footwear, fashion
accessories, and home goods.


SIRIUS XM: Egan-Jones Keeps BB+ Senior Unsecured Ratings
--------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Sirius XM Holdings Inc.

Headquartered in New York, New York, Sirius XM Holdings Inc.
broadcasts various channels of audio from its satellites.



SKEFCO PROPERTIES: Trustee Hires James Parker as Special Counsel
----------------------------------------------------------------
Michael Collins, the Chapter 11 trustee for Skefco Properties Inc.
and Eleftheria LLC, received approval from the U.S. Bankruptcy
Court for the Western District of Tennessee to employ James Parker,
Esq., an attorney practicing in Tennessee, as special counsel.

The Debtor requires the services of a special counsel to handle
real estate matters, including but not limited to, closing of real
property sales.

Mr. Parker will be paid at the rate of $250 per hour.

Mr. Parker disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

                   About Skefco Properties Inc.
                        and Eleftheria LLC

Skefco Properties Inc., a real estate company in Memphis, Tenn.,
and its affiliate, Eleftheria LLC, sought protection under Chapter
11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case Nos. 19-26580 and
19-26603) on Aug. 20, 2019.  The cases are jointly administered
with the Chapter 11 case (Bankr. W.D. Tenn. Case No. 19-29718)
filed by Skefco Properties President James Skefos on Dec. 10,
2019.

At the time of the filing, Skefco Properties disclosed $4,473,400
in assets and $1,693,357 in liabilities.  Meanwhile, Eleftheria had
total assets of $1,153,000 and total liabilities of $2,292,812 as
of the petition date.

Skefco Properties and Eleftheria are represented by the Law Office
of John E. Dunlap and Douglass & Runger, respectively.

Michael E. Collins, Esq., is the Chapter 11 trustee appointed in
the Debtors' bankruptcy cases.  The trustee tapped Manier & Herod,
P.C. as his bankruptcy counsel.  James Parker, Esq., and Bruce
Harris, Esq., serve as the trustee's special counsel.


SKLAR EXPLORATION: Files Second Amended Joint Plan
--------------------------------------------------
Sklar Exploration Company, LLC (SEC) and affiliate Debtor Sklarco,
LLC, filed with the Bankruptcy Court their Second Amended and
Restated Joint Plan of Reorganization.

The Plan provides for the reorganization of Debtor Sklarco and the
limited reorganization of Debtor SEC solely for the purpose of
winding down its operations and transitioning operatorship of oil
and gas properties to a new duly appointed operator followed by a
liquidation of assets. Pursuant to the Plan, Sklarco shall
restructure its debts and obligations and continue to operate in
the ordinary course of business.

Designation of Claims and Interests:

1. Debtor Sklar Exploration (SEC)

   Class 1 - The Allowed Priority Wage Claims

   Class 2 - The Allowed Secured Claim held by East West Bank

   Class 3 – The Allowed Secured Claim held by Ford Motor Credit

   Class 4 – The Allowed Secured Claim held by Ally Bank

   Class 5 – Reserved

   Class 6 - The Allowed General Unsecured Claims against SEC

   Class 7 - The member Interest held by Howard Trust

2. Debtor Sklarco

   Class A - The Allowed Secured Claim held by East West Bank

   Class B – The Allowed Secured Claims held by Mechanics Lien
Claimants

   Class C – The Allowed General Unsecured Claims against
Sklarco

   Class D – The member Interest held by Howard Trust

Class 6 - General Unsecured Claims Against SEC and Class C -
General Unsecured Claims Against Sklarco shall be treated under the
Plan, as follows:

   * On the Effective Date of the Plan, all Class 6 and Class C
Creditors will receive a beneficial interest in the Creditor Trust
in exchange for their claims;

   * beginning on the Effective Date, the Reorganized Debtors shall
pay the Creditor Trust Allocation to the Creditor Trust.  The
Creditor Trust shall further receive all distributions from or
payments on account of all assets and/or interests allocated to the
Creditor Trust.

All payments of the Creditor Trust Allocation received by the
Creditor Trust shall be applied against the balance of the Creditor
Trust Payment Obligation and distributed to beneficiaries on a pro
rata basis until the earlier of the date on which the Creditor
Trust Payment Obligation is paid in full, or all Allowed Class 6
and Class C Claims are paid in full.

   * In the event of a refinance of the East West Bank (EWB)
Secured Claim, the Creditor Trust shall receive the Creditor Trust
Allocation of the Post-Monetization Proceeds (which means all cash
available in the event of the refinancing of the EWB Secured
Claim).  The Reorganized Debtors shall continue to make the
payments after the refinance until the earlier of the date on which
the balance of the Creditor Trust Payment Obligation is paid in
full or all Allowed Class 6 and Class C Claims are paid in full.

A copy of the Amended Plan is available for free at
https://bit.ly/3orHi54 from Epiq, claims agent.


                  About Sklar Exploration Company

Sklar Exploration Company, LLC -- https://sklarexploration.com/ --
is an independent exploration production company owned and managed
by Howard F. Sklar.  With offices in Boulder, Colo., Shreveport,
La., and Brewton, Ala., Sklar owns interests in oil and gas wells
located throughout the United States.  Its exploration and
production activities have historically focused on the
hydrocarbon-rich Lower Gulf Coast basins and in the Interior Gulf
Coast basins of East Texas, North Louisiana, South Mississippi,
South Alabama, and the Florida Panhandle.

Sklar Exploration Company and Sklarco, LLC, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Lead Case No.
20-12377) on April 1, 2020.  At the time of the filing, Sklar
Exploration had estimated assets of between $1 million and $10
million and liabilities of between $10 million and $50 million.
Sklarco disclosed assets of between $10 million and $50 million and
liabilities of the same range.  

Judge Elizabeth E. Brown oversees the cases.

The Debtors tapped Kutner Brinen, P.C., as bankruptcy counsel, and
Berg Hill Greenleaf & Ruscitti, LLP and Armbrecht Jackson, LLP, as
special counsel.  Epiq is the Debtor's claim agent.  The U.S.
Trustee for Region 19 appointed a committee to represent unsecured
creditors in the Debtors' Chapter 11 cases.  The Committee is
represented by Munsch Hardt Kopf & Harr, P.C.


SOUTHERN ROCK: Wants Plan Exclusivity Extended Thru October 22
--------------------------------------------------------------
Debtor Southern Rock & Lime, Inc. asks the U.S. Bankruptcy Court
for the Northern District of Florida, Panama City Division to
extend the Debtor's exclusive period to file a Chapter 11 Plan
through and including October 22, 2021, and to solicit acceptances
through and including December 21, 2021. This is the Debtor's first
request for an extension of the Exclusive Periods.

The Debtor's case has been pending for less than three months.
There is a possibility that the Debtor can propose a confirmable
plan for the current exclusivity period deadline, which is due on
June 24, 2021. But with the new accountant involved in the case,
and the other remaining issues that need to be addressed, the
Debtor is seeking an extension to provide additional time to
properly administer this case.

The Debtor is communicating with its two major secured creditors to
reach adequate protection agreements, but thus far, the Debtor has
not yet formulated a proper budget. The Debtor expects to advance
those negotiations in the coming weeks.

The Debtor is generally paying its post-petition debts as they come
due, but it has not yet paid adequate protection payments to its
major secured creditors.

The Debtor seeks an extension of exclusivity in good faith and not
to pressure or otherwise attempt to prejudice the rights of any
creditors. The Debtor needs time to organize its business affairs,
negotiate with its creditors, and propose a confirmable plan.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/2RtYr20 from PacerMonitor.com.  

                          About Southern Rock & Lime

Southern Rock & Lime, Inc. filed for Chapter 11 protection (Bankr.
N.D. Fla. Case No. 21-50021) on February 24, 2021. James E.
Clemons, Jr., president, signed the petition. At the time of the
filing, the Debtor disclosed $1 million to $10 million in both
assets and liabilities.

Judge Karen K. Specie oversees the case. Bruner Wright, PA serves
as the Debtor's counsel.


SQUARE INC: Moody's Assigns Ba2 CFR, Outlook Stable
---------------------------------------------------
Moody's Investors Service assigned a Ba2 Corporate Family Rating,
Ba1-PD Probability of Default Rating and SGL-1 Speculative Grade
Liquidity rating to Square, Inc. The company's proposed senior
notes offering was assigned a rating of Ba2. The rating outlook is
stable.

"Square's growth trajectory will remain strong in the near term,
and the credit profile benefits from a net cash position and ample
free cash flow" said Peter Krukovsky, Moody's Senior Analyst.
"However, sustaining high growth in the intensely competitive
landscape will require high operating expense investment,
constraining profitability. An improvement in profitability and
consistent free cash flow growth would be required for upward
evolution of ratings over time."

The following rating actions were taken:

Assignments:

Issuer: Square, Inc.

Corporate Family Rating, Assigned Ba2

Probability of Default Rating, Assigned Ba1-PD

Speculative Grade Liquidity Rating, Assigned SGL-1

Senior Unsecured Regular Bond/Debenture, Assigned Ba2 (LGD4)

Outlook Actions:

Issuer: Square, Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

The Ba2 CFR reflects Square's compelling service offering across
its Seller and Cash App segments, strong track record of growth in
Seller and more recent robust growth in Cash App, large addressable
markets, ample free cash flow and net cash position. Continued
strong growth through the pandemic is indicative of consistent
market share gains and momentum with customers. In the near term,
Moody's expects both segments to benefit from constructive macro
trends, including strong electronic payments growth, recovery in
small and medium sized business (SMB) volumes, proliferation of P2P
use cases, stimulus disbursement monetized through the Cash Card,
and high interest in bitcoin investing among others.

While Moody's projects Square to sustain a strong growth trajectory
over the coming years, the competitive environment in both of the
company's verticals is increasingly intense. In Seller, the
company's expansion in larger SMB categories puts it into more
direct competition with scaled acquirers' integrated
vertical-specific omnichannel solutions. In Cash App, other digital
wallets have expanded into Square's differentiation areas of debit
card and bitcoin investing services, and Square's objective of
expanding primary account relationships faces competition from
neobanks such as Chime that have broader service offerings. To
sustain strong growth, Square will need to continue to make
substantial investments in product, sales and marketing and support
functions, which will limit near-term margin expansion.

Square's capital structure strategy involves maintenance of high
cash liquidity, which stands at about $6 billion as of March 2021
pro forma for the pending bond issuance. The company does not
expect acquisitions to meaningfully alter its capital structure in
the near term. Square does not return capital to shareholders as it
focuses on investment in growth. The company plans to settle
in-the-money convertible notes in stock. Calculation of leverage
metrics is impacted by high level of stock-based compensation, with
projected Moody's adjusted total debt/EBITDA at the end of 2021 of
25x if stock-based compensation is subtracted from EBITDA and
convertible notes are included in debt, but only 3x if stock-based
compensation and convertible notes are both excluded. However, the
large cash balance results in a net cash position and negative net
leverage (particularly if convertibles are excluded).

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

The stable outlook reflects Moody's expectation of continued strong
gross profit and EBITDA growth, modestly improving profitability,
ample free cash flow and high cash to debt ratio. The ratings could
be upgraded if Square demonstrates meaningful profitability
improvement, sustained free cash flow growth, and a balanced
financial policy. The ratings could be downgraded if Square's
growth slows materially without profitability improvement, or if
cash to debt ratio declines materially or the company shifts to a
more aggressive financial policy.

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


STEVEN FELLER: Seeks to Extend Plan Exclusivity Thru July 19
------------------------------------------------------------
Debtor Steven Feller PE PL requests the U.S. Bankruptcy Court for
the Southern District of Florida, Fort Lauderdale Division to
extend the exclusive periods during which the Debtor may file a
plan of reorganization through and including July 19, 2021, and to
solicit ballots on such a plan until September 20, 2021.

According to the Debtor, it is still working on the claims that
were made against them. The judicial settlement conference being
conducted by Judge Hyman is in process. There are many claimants,
several insurance companies, and other third parties involved in
the judicial settlement conference.

There have already been several judicial conferences that have
taken place, and progress is being made. Issues relating to third
parties have recently been resolved, which may allow a pathway to
resolving issues with many, if not all, of the claimants and
insurance companies. It is anticipated that additional settlement
conferences will take place over the next two months.

The Debtor desires to focus its full attention on stabilizing the
business, resolving the claims through the judicial settlement
conference, and formulating an exit strategy to this Chapter 11
case. The Debtor does not want to be concerned with competing
plans.

The request for additional extension is not filed for any dilatory
purpose and no prejudice will result to any party if the requested
extension is granted.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/33RxM1J from PacerMonitor.com.

                           About Steven Feller PE PL

Steven Feller PE, an engineering design services company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Fla. Case No. 20-21341) on October 17, 2020. The petition was
signed by Steven Feller, authorized representative. At the time of
the filing, the Debtor had estimated assets of between $1 million
and $10 million and liabilities of between $500,000 and $1
million.

Judge Scott M. Grossman oversees the case. The Debtor tapped Behar,
Gutt & Glazer, P.A. as the Debtor's legal counsel, and Derrevere
Stevens Black & Cozad, as their special insurance counsel.


SUPERCONDUCTOR TECHNOLOGIES: Updates Merger Agreement With Allied
-----------------------------------------------------------------
Superconductor Technologies Inc. entered into an updated,
definitive merger agreement with Allied Integral United, Inc.
("Clearday"), a privately-held company dedicated to delivering next
generation longevity care and wellness services that support aging
in place, whereby a wholly-owned subsidiary of STI will merge with
and into Clearday in a stock-for-stock transaction with Clearday.
The merger agreement replaced the merger agreement that was
announced by the parties on March 3, 2020, which had expired.

Upon completion of the merger, STI will change its name to
Clearday, Inc.  The merged company will focus on the continued
development of Clearday's virtual, in-home care service - Clearday
at Home, its membership-based daily care offering - Clearday Clubs,
as well as the continued operation of Clearday's existing Memory
Care America residential care communities.

The merged company will also focus on building a multi-channel
distribution system for products that focus on improving the health
and care of older consumers.  One of these proprietary products
incorporates STI's existing Sapphire Cryocooler as an enabling
technology for enhancing air quality in internal atmospheres, by
removing harmful particulates to mitigate aerosol transmission of
viruses and pathogens such as COVID-19, influenza, and other
diseases that pose a significant threat to the elderly.

No financing is required under the merger agreement.

"Clearday is dedicated to delivering the next generation of
longevity care and wellness services for people with dementia or
other cognitive deficit challenges, and that means making
high-quality care more accessible, affordable and empowering for
patients and those who love and care for them," stated James
Walesa, chief
executive officer and Chairman of Clearday.  "Based on our
experience operating highly-rated cognitive care communities, we
have now launched Clearday at Home, a virtual, in-home care
offering, and are preparing to launch Clearday Clubs, a modern,
non-residential daily care service model, both of which support
aging in place.  These affordable, high-quality care models get to
the heart of our belief that no one should be alone and without
support when dealing with cognitive decline conditions.  Since
first announcing our intention to merge with STI in March of last
year, we have also made material progress in these businesses and
in commercializing an advanced air quality enhancement solution -
leveraging STI's highly reliable and efficient Sapphire Cryocooler
technology - that we believe will be useful in our growth plan."

"Following an assessment of strategic alternatives, our Board of
Directors has concluded that a merger with Clearday offers an
excellent opportunity to create meaningful value for our
stockholders," said Jeff Quiram, STI's president and chief
executive officer.  "Having wound down our Conductus
superconducting wire platform prior to the intended merger
announced last March, we have watched the Clearday team
successfully launch a unique virtual care solution that may be used
during a pandemic such as COVID-19.  The pandemic has also
increased awareness of the need for innovative air purification
technologies for protection against airborne disease, and we
believe the Clearday transaction has the potential to monetize our
proven cryogenic cooler technology as a key enabler for these types
of solutions."

              About the Proposed Merger Transaction

On a pro forma basis and based on the number of shares of STI
common stock to be issued in the merger, the pre-merger STI
stockholders will own approximately 3.6% of the post-merger
combined company, determined on a fully-diluted basis.  The
transaction has been approved by the boards of directors of both
companies.  The merger is expected to close in the third quarter of
2021, subject to the approval of the stockholders of each company,
as well as other closing conditions, including, the Joint Proxy and
Registration Statement for solicitation of the stockholder approval
and issuance of the shares in the merger being declared effective
by the U.S. Securities and Exchange Commission.  The merger
agreement may be terminated by the parties under certain
circumstances.

Sanli Pastore & Hill provided an opinion to the Board of Directors
of STI as to the fairness, from a financial perspective, of the
exchange ratio to the STI stockholders.  A.G.P./Alliance Global
Partners is acting as exclusive financial advisor to Clearday on
the proposed transaction.

                   Management and Organization

Following the merger, James Walesa, chief executive officer and
chairman of Allied Integral United, Inc. known as Clearday will be
appointed to serve as the post-merger combined company's chairman,
president and chief executive officer.  The board of directors for
the post-merger combined company will be comprised of five
directors, with Clearday nominating four of the five directors,
three of who will be independent, and Jeff Quiram.  Clearday's
executive and management team are to be appointed as the executive
and management team of the combined company.  Members of the STI
executive team are expected to support the Clearday transition.
Jeff Quiram, STI's chief executive officer, is expected to be a
director on the board, but is not entering any employment or
consulting agreements.

                About Superconductor Technologies

Headquartered in Austin Texas, Superconductor Technologies Inc. --
www.suptech.com -- develops and commercializes high temperature
superconductor (HTS) materials and related technologies.  Since
1987, STI has led innovation in HTS materials, cryogenic
cryocoolers developing more than 100 patents as well as proprietary
trade secrets and manufacturing expertise.

Superconductor Technologies reported a net loss of $2.96 million
for the year ended Dec. 31, 2020, compared to a net loss of $9.23
million for the year ended Dec. 31, 2019.  As of April 3, 2021, the
Company had $2.98 million in total assets, $722,000 in total
liabilities, and $2.56 million in total stockholders' equity.

Los Angeles, CA-based Marcum LLP, the Company's auditor since 2009,
issued a "going concern" qualification in its report dated March
31, 2021, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


SUSGLOBAL ENERGY: Delays Filing of First Quarter Form 10-Q
----------------------------------------------------------
SusGlobal Energy Corp. filed a Form 12b-25 with the Securities and
Exchange Commission notifying the delay in the filing of its
Quarterly Report on Form 10-Q for the period ended March 31, 2021.

SusGlobal Energy was unable to file its Quarterly Report on Form
10-Q for the period ended March 31, 2021 by the May 17, 2021 filing
date applicable to smaller reporting companies as the timely filing
has become impracticable without undue hardship and expense to the
Company.  The Company anticipates that it will file the Quarterly
Report no later than the fifth calendar day following the
prescribed filing date.

Due to a change in the Company's customer base, the Company's
revenue in the current three-month period ended March 31, 2021, is
lower by approximately 45% or approximately $157,500, compared to
the comparable three-month period ended March 31, 2020.

                          About SusGlobal

Headquartered in Toronto, Ontario, Canada, SusGlobal Energy Corp.
-- www.susglobalenergy.com -- is a renewables company focused on
acquiring, developing and monetizing a global portfolio of
proprietary technologies in the waste to energy and regenerative
products application.

SusGlobal Energy reported a net loss of $2.01 million for the year
ended Dec. 31, 2020, compared to a net loss of $2.89 million for
the year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$5.76 million in total assets, $10.52 million in total liabilities,
and a total stockholders' deficiency of $4.76 million.

Toronto, Canada-based MNP LLP, the Company's auditor since 2020,
issued a "going concern" qualification in its report dated April
15, 2021, citing that the Company has experienced operating losses
since inception and expects to incur further losses in the
development of its business.  These conditions, along with other
matters, raise substantial doubt about Company's ability to
continue as a going concern.


TECT AEROSPACE: Committee Hires Kilpatrick Townsend as Counsel
--------------------------------------------------------------
The official committee of unsecured creditors of TECT Aerospace
Group Holdings, Inc. and its affiliates seeks approval from the
U.S. Bankruptcy Court for the District of Delaware to retain
Kilpatrick Townsend & Stockton, LLP as its legal counsel.

The firm's services include:

     a) rendering legal advice regarding the committee's
organization, duties, and powers in the Debtors' Chapter 11 cases;


     b) evaluating and participating in the Debtors' restructuring
process;

     c) assisting the committee in its investigation of the acts,
conduct, assets, liabilities and financial condition of the Debtors
and participating in and reviewing any proposed asset sales or
dispositions, and any other matters relevant to the cases;

      d) attending meetings of the committee and meetings with the
Debtors and secured creditors, and participating in negotiations
with these parties;

      e) taking all necessary action to protect and preserve the
interests of the committee, including possible prosecution of
actions on its behalf and investigations concerning litigation in
which the Debtors are involved;

      f) assisting the committee in the review, analysis and
negotiation of any financing or proposed use of cash collateral;

      g) assisting the committee with respect to communications
with the general unsecured creditor body about significant matters
in the cases;

      h) reviewing and analyzing claims filed against the Debtors'
estates;

      i) representing the committee in hearings before the court,
appellate courts and other courts in which matters may be heard;

      j) assisting the committee in preparing legal papers;

     k) assisting the committee in the review, formulation,
analysis and negotiation of any plan of reorganization and
accompanying disclosure statement; and

     l) providing such other legal assistance as the committee may
deem necessary.

The firm will be paid at these rates:

     Partners      $795 - $1,240 per hour
     Counsel       $695 per hour
     Associates    $435 - $590 per hour
     Paralegals    $335 per hour

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases,
Kilpatrick disclosed that:

     -- the firm has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement;

     -- none of the professionals included in the engagement vary
their rate based on the geographic location of the bankruptcy
case;

     -- the firm has not represented the committee in the 12 months
prior to the Chapter 11 filing; and

     -- the firm intends to prepare a budget and staffing plan and
will seek approval of such by the committee.

David Posner, Esq., a partner at Kilpatrick, disclosed in court
filings that his firm is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David M. Posner, Esq.
     Gianfranco Finizio, Esq.
     Kelly E. Moynihan, Esq.
     Kilpatrick Townsend & Stockton LLP
     The Grace Building
     1114 Avenue of the Americas
     New York, New York 10036
     Telephone: (212) 775-8700
     Facsimile: (212) 775-8800
     Email: dposner@kilpatricktownsend.com
            gfinizio@kilpatricktownsend.com
            kmoynihan@kilpatricktownsend.com

                       About TECT Aerospace

TECT Aerospace Group Holdings, Inc. and its affiliates manufacture
high precision components and assemblies for the aerospace
industry, specializing in complex structural and mechanical
assemblies, and machined components for a variety of aerospace
applications.  TECT produces assemblies and parts used in flight
controls, fuselage or interior structures, doors, wings, landing
gear, and cockpits.

TECT Aerospace Group Holdings operates manufacturing facilities in
Everett, Wash., and Park City and Wellington, Kansas and their
corporate headquarters is located in Wichita, Kan.  TECT currently
employs approximately 400 individuals nationwide.  TECT and its
affiliates are privately held companies owned by Glass Holdings,
LLC and related Glass-owned or Glass controlled entities.

On April 6, 2021, TECT Aerospace Group Holdings and six affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
21-10670).  TECT Aerospace Group Holdings estimated assets of $50
million to $100 million and liabilities of $100 million to $500
million as of the bankruptcy filing.

The Debtors tapped Richards, Layton & Finger P.A. as legal counsel,
Winter Harbor LLC as restructuring advisor, and Imperial Capital
LLC as investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Boeing Company, as DIP agent, is represented by Alan D. Smith,
Esq., at Perkins Coie LLP, and   Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP.

The U.S. Trustee for  Regions 3 and 9 appointed an official
committee of unsecured creditors on April 20, 2021.  The committee
tapped Kilpatrick Townsend & Stockton, LLP and Womble Bond
Dickinson (US) LLP as legal counsel, and Province, LLC as financial
advisor.


TECT AEROSPACE: Committee Hires Province LLC as Financial Advisor
-----------------------------------------------------------------
The official committee of unsecured creditors of TECT Aerospace
Group Holdings, Inc. and its affiliates seeks approval from the
U.S. Bankruptcy Court for the District of Delaware to retain
Province, LLC as its financial advisor.

The firm's services include:

     a. becoming familiar with and analyzing the Debtors' budget,
assets and liabilities and overall financial condition;

     b. reviewing financial and operational information furnished
by the Debtors;

     c. monitoring the sale process, reviewing bidding procedures
and asset purchase agreements, interfacing with the Debtors'
professionals, and advising the committee regarding the process;

     d. scrutinizing the economic terms of various agreements,
including but not limited to, any potential KEIP and KERP and
various professional retentions;

     e. analyzing the Debtors' proposed business plans and
developing alternative scenarios, if necessary;

     f. assessing the Debtors' various pleadings and proposed
treatment of unsecured creditor claims;

     g. preparing or reviewing avoidance action and claim
analyses;

     h. assisting the committee in reviewing the Debtors' financial
reports, including but not limited to, statements of financial
affairs, schedules of assets and liabilities, budgets, and monthly
operating reports;

     i. advising the committee on the current state of the Debtors'
Chapter 11 cases;

     j. advising the committee in negotiations with the Debtors and
third parties as necessary;

     k. if necessary, participating as a witness in hearings before
the court with respect to matters upon which Province has provided
advice; and

     l. other activities approved by the committee and agreed to by
Province.

The firm will be paid at these rates:

     Managing Directors and Principals   $750 - $1,050 per hour
     Vice Presidents, Directors,
      and Senior Directors               $550 - $750 per hour
     Analysts, Associates,
      and Senior Associates              $270 - $550 per hour
     Paraprofessionals                   $185 - $225 per hour

Sanjuro Kietlinski, managing director at Province, disclosed in
court filings that he and his firm are "disinterested" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Sanjuro Kietlinski
     Province, LLC
     2360 Corporate Circle, Suite 330
     Henderson, NV 89074
     Tel: +1 (702) 685-5555
     Email: skietlinski@provincefirm.com
            info@provincefirm.com

                       About TECT Aerospace

TECT Aerospace Group Holdings, Inc. and its affiliates manufacture
high precision components and assemblies for the aerospace
industry, specializing in complex structural and mechanical
assemblies, and machined components for a variety of aerospace
applications.  TECT produces assemblies and parts used in flight
controls, fuselage or interior structures, doors, wings, landing
gear, and cockpits.

TECT Aerospace Group Holdings operates manufacturing facilities in
Everett, Wash., and Park City and Wellington, Kansas and their
corporate headquarters is located in Wichita, Kan.  TECT currently
employs approximately 400 individuals nationwide.  TECT and its
affiliates are privately held companies owned by Glass Holdings,
LLC and related Glass-owned or Glass controlled entities.

On April 6, 2021, TECT Aerospace Group Holdings and six affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
21-10670).  TECT Aerospace Group Holdings estimated assets of $50
million to $100 million and liabilities of $100 million to $500
million as of the bankruptcy filing.

The Debtors tapped Richards, Layton & Finger P.A. as legal counsel,
Winter Harbor LLC as restructuring advisor, and Imperial Capital
LLC as investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Boeing Company, as DIP agent, is represented by Alan D. Smith,
Esq., at Perkins Coie LLP, and   Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP.

The U.S. Trustee for  Regions 3 and 9 appointed an official
committee of unsecured creditors on April 20, 2021.  The committee
tapped Kilpatrick Townsend & Stockton, LLP and Womble Bond
Dickinson (US) LLP as legal counsel, and Province, LLC as financial
advisor.


TECT AEROSPACE: Committee Taps Womble Bond Dickinson as Co-Counsel
------------------------------------------------------------------
The official committee of unsecured creditors of TECT Aerospace
Group Holdings, Inc. and its affiliates seeks approval from the
U.S. Bankruptcy Court for the District of Delaware to retain Womble
Bond Dickinson (US) LLP.

Womble will serve as co-counsel with Kilpatrick Townsend &
Stockton, LLP, the other firm representing the committee in the
Debtors' Chapter 11 cases.

The firm will be paid at these rates:

     Partners        $325 - $950 per hour
     Of Counsel      $330 - $925 per hour
     Associates      $280 - $685 per hour
     Senior Counsel  $125 - $765 per hour
     Counsel         $100 - $675 per hour
     Paralegals       $50 - $495 per hour

     Matthew P. Ward, Esq.       $665 per hour
     Morgan L. Patterson, Esq.   $525 per hour
     Lisa B. Tancredi, Esq.      $515 per hour

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Womble
disclosed that:

     (a) The firm did not agree to a variation of its standard and
customary billing arrangements for the engagement.

      (b) The firm's professionals included in the engagement have
not varied their rates based on the geographic location of these
Chapter 11 cases.

      (c) The firm did not represent the committee prior to the
petition date.

      (d) The firm is developing a staffing plan and is currently
developing a prospective budget for the Chapter 11 cases.

Matthew Ward, Esq., a partner at Womble, 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 through:

     Matthew Ward, Esq.
     Womble Bond Dickinson (US) LLP
     1313 North Market Street, Suite 1200
     Wilmington, DE, US 19801
     Tel: +1 302-252-4338
     Fax: +1 302-661-7711
     Email: matthew.ward@wbd-us.com

                       About TECT Aerospace

TECT Aerospace Group Holdings, Inc. and its affiliates manufacture
high precision components and assemblies for the aerospace
industry, specializing in complex structural and mechanical
assemblies, and machined components for a variety of aerospace
applications.  TECT produces assemblies and parts used in flight
controls, fuselage or interior structures, doors, wings, landing
gear, and cockpits.

TECT Aerospace Group Holdings operates manufacturing facilities in
Everett, Wash., and Park City and Wellington, Kansas and their
corporate headquarters is located in Wichita, Kan.  TECT currently
employs approximately 400 individuals nationwide.  TECT and its
affiliates are privately held companies owned by Glass Holdings,
LLC and related Glass-owned or Glass controlled entities.

On April 6, 2021, TECT Aerospace Group Holdings and six affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
21-10670).  TECT Aerospace Group Holdings estimated assets of $50
million to $100 million and liabilities of $100 million to $500
million as of the bankruptcy filing.

The Debtors tapped Richards, Layton & Finger P.A. as legal counsel,
Winter Harbor LLC as restructuring advisor, and Imperial Capital
LLC as investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Boeing Company, as DIP agent, is represented by Alan D. Smith,
Esq., at Perkins Coie LLP, and   Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP.

The U.S. Trustee for  Regions 3 and 9 appointed an official
committee of unsecured creditors on April 20, 2021.  The committee
tapped Kilpatrick Townsend & Stockton, LLP and Womble Bond
Dickinson (US) LLP as legal counsel, and Province, LLC as financial
advisor.


TGS HOSPITALITY: Wins Cash Collateral Access Thru June 8
--------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina, Asheville Division, has authorized TGS Hospitality, LLC
to use cash collateral on an interim basis through June 8, 2021,
the date of the final hearing.

The Debtor is authorized to use cash collateral in the ordinary
course of business for the expenses specified in the budget, with a
10% variance per line item on a cumulative basis.

As adequate protection for the Debtor's use of cash collateral,
Truist Bank is 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
Truist attached to the Debtor's assets pre-petition. Truist's
security interests in, and liens upon, the Post-Petition Collateral
will have the same validity as existed between Truist, the Debtor,
and all other creditors or claimants against the Debtor's estate on
April 20, 2021.

The Debtor was scheduled to pay Truist $488 as adequate protection
payment by May 10.

The Debtor will also provide a budget-to-actual report for the
month of May 2021 to counsel for Truist, the Subchapter V trustee,
and the Bankruptcy Administrator on or before June 7.

A copy of the motion and the Debtor's budget is available for free
at https://bit.ly/2Qp6InB from PacerMonitor.com.

The budget provided for $61,337 in total expenses for the period
from May 21 through June 17, 2021.

                       About TGS Hospitality

TGS Hospitality LLC, a North Carolina limited liability company
that operates one restaurant in Asheville, North Carolina under the
name Green Sage Cafe, filed a petition under Subchapter V of
Chapter 11 (Bankr. W.D.N.C. Case No. 21-10073) on April 20, 2021.

In the petition signed by James R. Talley, member manager, the
Debtor disclosed total assets at $177,270 and total liabilities at
$1,043,155.  Judge George R. Hodges is assigned to the case.  MOON
WRIGHT & HOUSTON, PLLC is the Debtor's counsel.


THUNDER RAIN: To Seek Plan Confirmation on June 22
--------------------------------------------------
Judge Brenda T. Rhoades has entered an order conditionally
approving the Disclosure Statement of Thunder Rain Holdings, LLC.

June 18, 2021, is fixed as the last day for filing written
acceptances or rejections of the Debtors' proposed Chapter 11
plan.

June 16, 2021, is fixed as the last day for filing and serving
written objections to: (1) final approval of the Debtors'
Disclosure Statement; or (2) confirmation of the Debtors' proposed
Chapter 11 plan.

The telephonic hearing to consider final approval of the Debtors'
Disclosure Statement (if a written objection has been timely filed)
and to consider the confirmation of the Debtors' proposed Chapter
11 Plan is fixed and shall be held on June 22, 2021, at 9:30 a.m.

                     About Thunder Rain Holdings

Thunder Rain Holdings, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No.
21-40163) on Feb. 1, 2021.  At the time of filing, the Debtor
disclosed $2,281,753 in assets and $2,543,976 in liabilities.  Gary
G. Lyon, Esq., at Bailey Johnson & Lyon, PLLC, is the Debtor's
legal counsel.


TLASJ LLC: Seeks to Hire Joyce W. Lindauer as Legal Counsel
-----------------------------------------------------------
TLASJ, LLC seeks approval from the U.S. Bankruptcy Court for the
Western District of Texas to employ Joyce W. Lindauer Attorney,
PLLC to handle its Chapter 11 case.

The firm will be paid at these rates:

     Joyce W. Lindauer              $450 per hour
     Paralegals                     $125 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.  The retainer fee is $11,750.

Joyce Lindauer, Esq., a partner at Joyce W. Lindauer Attorney,
disclosed in a court filing that her firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Joyce W. Lindauer, Esq.
     Joyce W. Lindauer Attorney, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Tel: (972) 503-4033
     Fax: (972) 503-4034
     Email: joyce@joycelindauer.com

                          About TLASJ LLC

TLASJ, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Texas Case No. 21-10248) on April 5, 2021. At the
time of the filing, the Debtor disclosed total assets of up to $50
million and total liabilities of up to $10 million. Judge
Christopher H. Mott oversees the case. Joyce W. Lindauer Attorney,
PLLC is the Debtor's legal counsel.


TORRID LLC: Moody's Assigns First Time B2 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Torrid
LLC, including a B2 corporate family rating, B2-PD probability of
default rating and a B2 rating for the proposed senior secured term
loan. The outlook is stable.

Proceeds from the proposed $350 million term loan due 2028 and $135
million of balance sheet cash will be used to refinance existing
indebtedness and fund a $268 million shareholder distribution.

The rating assignment incorporates governance considerations,
including financial strategy risks associated with private equity
ownership.

Moody's took the following rating actions for Torrid LLC:

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

Senior Secured Bank Credit Facility, Assigned B2 (LGD4)

Outlook, Assigned Stable

RATINGS RATIONALE

Torrid's B2 CFR is constrained by the company's high pro-forma
leverage of 4.0x (Moody's-adjusted, as of May 1, 2021) and
governance factors, specifically the risk of future debt-funded
dividend distributions given the company's ownership by Sycamore
Partners since the 2013 LBO of the combined Hot Topic and Torrid
entity. Torrid and Hot Topic are independent entities owned by
Sycamore, with no ties except for TSA agreements, through which
Torrid provides technology services to Hot Topic free of charge and
Hot Topic provides real estate and distribution services to Torrid
for a modest charge. The rating also reflects the company's
relatively small scale, fashion risk, operations in the competitive
apparel sector, and exposure to mall traffic in about two-thirds of
its stores. Although the plus-sized sector has fewer competitors
and a limited number of physical store locations compared to
regular sized apparel, competition is increasing as more retailers
offer inclusive sizing. In addition, although comparable sales have
grown over 10% for several years prior to the pandemic, Torrid's
track record of positive earnings and cash flow generation is
relatively short. As a retailer, the company also needs to make
ongoing investments in ESG factors including responsible sourcing,
product and supply sustainability, privacy and data protection.

Nevertheless, the rating is supported by Torrid's good execution,
omni-channel capabilities and high e-commerce penetration, which
grew to 70% of sales in 2020 from 50% in 2019. Torrid
differentiates itself from competitors with a focus on fit and a
broad product assortment, which drive high customer loyalty.
Reflecting its meaningful e-commerce presence and the pivot to
casual styles during the pandemic, the company performed relatively
well compared to many other apparel retailers, with full-year 2020
sales declining 6% and company-adjusted EBITDA down 24%. Revenues
and earnings returned to growth in the second half of 2020, and
into Q1 2021 based on the company's preliminary results. Moody's
expects continued growth to lead to improved credit metrics over
the next 12-18 months, with debt/EBITDA declining to 3.7x from 4.0x
(pro-forma Moody's-adjusted, based on preliminary results for LTM
May 1, 2021) and EBIT/interest expense increasing to 2.9x from
2.5x. Torrid's good liquidity over the next 12-18 months also
supports the credit, including expectations for positive free cash
flow, full availability under the proposed $150 million asset-based
credit facility, and a lack of near-term maturities.

The stable outlook reflects Moody's expectations for good liquidity
and earnings growth.

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

The ratings could be upgraded if revenue and earnings growth
continue and the company maintains good liquidity. A ratings
upgrade would require a reduction in private equity ownership and
board representation, and a commitment to and maintenance of a more
conservative financial policy, including maintaining
Moody's-adjusted debt/EBITDA below 4.0x and EBITA/interest expense
above 2.25x.

The ratings could be downgraded if the company's liquidity or
earnings deteriorate for any reason or financial policies become
more aggressive, including additional debt-financed dividend
distributions. Quantitatively, the ratings could be downgraded if
Moody's-adjusted debt/EBITDA is sustained above 5.0x and
EBITA/interest expense below 1.75x.

As proposed, the new first lien credit facility is expected to
provide covenant flexibility that if utilized could negatively
impact creditors. Notable terms include the following:

Incremental debt capacity up to the greater of $135 million or 75%
of adjusted EBITDA, plus unlimited amounts subject to a 2x First
Lien Secured Leverage Ratio. No portion of the incremental may be
incurred with an earlier maturity than the initial term loans.

The credit agreement permits the transfer of assets to
unrestricted subsidiaries, up to the carve-out capacities, subject
to "blocker" provisions, which prohibit the transfer of material
intellectual property to an unrestricted subsidiary and require
total leverage to be no greater than 2x on a pro-forma basis.

Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees subject to
protective provisions, which only permit guarantee releases if such
transaction is for bona fide business purposes, is conducted on an
arm's length basis and is not entered into for purposes of
releasing such guarantee or other non-arm's length transaction
pursuant to a transaction entered into for the purpose of such
guarantor being released from its guarantee.

The agreement is expected to include protective provisions
limiting an up-tiering transaction, however the exact protections
are not yet defined.

There are no financial maintenance covenants.

Torrid LLC is a direct-to-consumer retailer of apparel, intimates
and accessories, targeting 25-40 year old women wearing sizes 10 to
30. The company's products are sold through its e-commerce
operations and 608 company-operated retail stores in the US, Puerto
Rico and Canada. Revenue for the year last twelve months ended May
1, 2021 was approximately $1.1 billion. The company is controlled
by funds affiliated with Sycamore Partners.

The principal methodology used in these ratings was Retail Industry
published in May 2018.


TRANSDERMAL SPECIALITIES: Case Summary & 18 Unsecured Creditors
---------------------------------------------------------------
Debtor: Transdermal Specialties Global, Inc.
        1 Kathryn Lane
        Broomall, PA 19008

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Case No.: 21-11425

Judge: Hon. Magdeline D. Coleman

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

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bruce K. Redding, Jr., CEO.

A copy of the Debtor's list of 18 unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/YZOK5FA/Transdermal_Specialties_Global__paebke-21-11425__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/YVBRFMA/Transdermal_Specialties_Global__paebke-21-11425__0001.0.pdf?mcid=tGE4TAMA


TRANSDERMAL SPECIALTIES INC: Case Summary & Unsecured Creditors
---------------------------------------------------------------
Debtor: Transdermal Specialties, Inc.
        1 Kathryn Lane
        Bromall, PA 19008

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Case No.: 21-11428

Judge: Hon. Eric L. Frank

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

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bruce Redding, CEO.

A copy of the Debtor's list of 10 unsecured creditors is available
for free at:

https://www.pacermonitor.com/view/ZUS6POA/Transdermal_Specialties_Inc__paebke-21-11428__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/ZADQ5LQ/Transdermal_Specialties_Inc__paebke-21-11428__0001.0.pdf?mcid=tGE4TAMA


TTK RE ENTERPRISE: $295K Sale of Ventnor City Property to NH Okayed
-------------------------------------------------------------------
Judge Jerrold N. Poslusny of the U.S. Bankruptcy Court for the
District of New Jersey authorized TTK RE Enterprise, LLC's sale of
the real property located at 239 N. Derby Avenue, in Ventnor City,
New Jersey, to NH Property Management LLC for $295,000 as set forth
in the Contract for Sale.

The sale is free and clear of any and all liens, security
interests, encumbrances and claims which appear on the Title
Report, but not limited to, the blanket mortgage of Fay Servicing,
LLC, as Servicer for U.S. Bank Trust National Association in its
capacity as trustee of HOF I Grantor Trust 5 dated May 14, 2019 and
recorded on June 4, 2019 in the Atlantic County Clerk's Office
Instrument #2019027956 and UCC-1 Financing Statements dated June 3,
2019 as #2019027821 and June 24, 2019 as #53453792.  

At the time of closing the proceeds of the sale of the Property
will be paid as follows:

      a. Normal costs attendant with closing on the sale of the
Property;

      b. 3% of the Purchase Price commission ($8,850) to Soleil
Sotheby's International Realty on account of its dual
representation in connection with the sale of the Property;

      c. Outstanding real estate taxes, including an amount owed
with respect to Tax Sale Certificate(s); and  

      d. All remaining proceeds to be paid to the Loan Funder on
account of its Secured Claim secured by its blanket mortgage
against the Property and UCC-1 Financing Statements in exchange for
its release of its mortgage and Financing Statements against the
Property.

The stay of the Order granting the Motion under Bankruptcy Rule
6004(h) is waived for cause.   

After closing the proceeds of the sale of the Property will be paid
by wire transfer to Loan Funder or as may be otherwise agreed by
the Title Company and Loan Funder without further order of the
Court and applied as stated in the Loan Funder loan documents.

                    About TTK RE Enterprise

TTK RE Enterprise LLC is a privately held company in Somers Point,
New Jersey.  The Company is the 100% owner of 48 real estate
properties in New Jersey having a total current value of
$9,265,000.

TTK RE Enterprise sought Chapter 11 protection (Bankr. D.N.J. Case
No. 19-30460) on Oct. 29, 2019 in Camden, New Jersey.  In the
petition signed by Emily K. Vu, president, the Debtor disclosed
total assets of $9,269,950, and total liabilities of $6,432,457.
Judge Jerrold N. Poslusny Jr. oversees the case.  FLASTER
GREENBERG
PC - CHERRY HILL is the Debtor's counsel.



TTM TECHNOLOGIES: Egan-Jones Keeps B Senior Unsecured Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by TTM Technologies, Inc.

Headquartered in Costa Mesa, California, TTM Technologies, Inc. is
an independent provider of time-critical, one-stop manufacturing
services for printed circuit boards.



TUXEDO JUNCTION: Seeks to Hire Colligan Law as Legal Counsel
------------------------------------------------------------
Tuxedo Junction, Inc. seeks approval from the U.S. Bankruptcy Court
for the Western District of New York to employ Colligan Law, LLP to
handle its Chapter 11 case.

Colligan Law will be paid at these rates:

     Frederick J. Gawronski, Esq.         $340 per hour
     Paralegal                            $100 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.  The retainer fee is $20,000.

Frederick Gawronski, Esq., a partner at Colligan Law, 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:

     Frederick J. Gawronski, Esq.
     Colligan Law, LLP
     12 Fountain Plaza, Suite 600
     Buffalo, NY 14202
     Tel: (716) 885-1150
     Fax: (716) 885-4662
     Email: fgawronski@colliganlaw.com

                       About Tuxedo Junction

Tuxedo Junction, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D.N.Y. Case No. 21-10445) on April 28,
2021.  Randy Krueger, president, signed the petition.  In the
petition, the Debtor disclosed assets of $570,449 and liabilities
of $3,628,298.  Colligan Law, LLP is the Debtor's legal counsel.


URBAN COMMONS GRAMERCY: Expects Unsecureds to Recover 100% in Plan
------------------------------------------------------------------
Urban Commons Gramercy, LLC, submitted a Chapter 11 Plan of
Reorganization and a Disclosure Statement.

The Plan proposes to restructure the financial affairs of the
Debtor.

Class 3 General Unsecured Claims will recover 100%.

The Plan proponent believes the Plan is feasible because it
contemplates liquidation of the sole asset of the Estate (i.e. the
Real Property) which sale will yield enough proceeds to pay all
creditors in full such that Debtor will have sufficient cash to
make all distributions.

Attorney for the Debtor:

     YI SUN KIM, ESQ.
     G&B LAW, LLP
     16000 Ventura Boulevard, Suite 1000
     Encino, California 91436
     Tel: (818) 382-6200
     Fax: (818) 986-6534
     E-mail: ykim@gblawllp.com

A copy of the Chapter 11 Disclosure Statement is available at
https://bit.ly/3eXhtqu from PacerMonitor.com.

                     About Urban Commons Gramercy

Urban Commons Gramercy, LLC is a single asset real estate debtor
(as defined in 11 U.S.C. Section 101(51B)).  It owns a fee simple
title to a property located in Los Angeles, having a current value
of $13.50 million.

Urban Commons Gramercy filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case
No. 21-11234) on Feb. 16, 2021.  Howard Wu, authorized
representative, signed the petition.  In the petition, the Debtor
disclosed $13,500,000 in assets and $7,238,825 in liabilities.

Judge Ernest M. Robles oversees the case.

Yi Sun Kim, Esq. at G&B Law, LLP, serves as the Debtor's legal
counsel.


US CONCRETE: Moody's Rates New $300MM Secured Term Loan 'Ba3'
-------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to U.S. Concrete,
Inc.'s proposed $300 million senior secured term loan facility due
2028 and affirmed U.S. Concrete's B1 Corporate Family Rating and
B1-PD Probability of Default Rating. Moody's also downgraded the
rating on U.S. Concrete's senior unsecured notes to B3 from B2. The
outlook remains stable. Finally, Moody's maintained the company's
Speculative Grade Liquidity Rating at SGL-2.

The proceeds from the senior secured term loan facility will be
used to redeem the remaining $200 million of the company's 6.375%
senior unsecured notes due 2024, repay outstanding borrowings under
the company's asset based lending facility (ABL) expiring in August
2022, and for general corporate purposes. The rating on the 6.375%
notes will be withdrawn at the close of the proposed transaction.
The transaction will be leverage neutral while improving the
company's debt maturity profile.

The Ba3 rating to the senior secured term loan, one notch above the
CFR, reflects the senior position of the term loan in the capital
structure and second priority lien on substantially all assets
(subordinated to the ABL facility) of U.S. Concrete. The downgrade
to the senior unsecured debt to B3 from B2, two notches below the
CFR, reflects its smaller proportion of the company's total debt
capital structure, resulting in a higher expected loss rate.

"With the proposed $300 million in senior secured debt, U.S.
Concrete will enhance its financial flexibility by lowering
interest expense and materially extending debt maturities at the
expense of increasing the expected loss rate on its senior
unsecured notes." said Emile El Nems, a Moody's VP-Senior Analyst.

Assignments:

Issuer: U.S. Concrete, Inc.

Senior Secured Bank Credit Facility, Assigned Ba3 (LGD3)

Affirmations:

Issuer: U.S. Concrete, Inc.

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Downgrades:

Issuer: U.S. Concrete, Inc.

Senior Unsecured Regular Bond/Debenture, Downgraded to B3 (LGD5)
from B2 (LGD5)

Outlook Actions:

Issuer: U.S. Concrete, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

U.S. Concrete's B1 CFR reflects the company's strong market
position as a leading regional producer of construction materials
in the Northeast, Texas and Northern California, its vertically
integrated asset base and attractive geographic footprint. In
addition, the rating is supported by the company's improved credit
metrics, increased profitability and good liquidity. At the same
time, the rating reflects the company's vulnerability to cyclical
end markets, the competitive nature of the company's ready-mix
concrete business and significant revenue exposure to urban centers
like New York City, San Francisco and San Jose which have been
disproportionately impacted by the outbreak of the coronavirus.

The stable outlook reflects Moody's expectation that U.S. Concrete
will steadily grow revenue organically, maintain good operating
performance, generate solid free cash flow, and remain committed to
reducing debt leverage. This is largely driven by Moody's view that
the US economy will improve sequentially and remain supportive of
the company's underlying growth drivers.

US Concrete's SGL-2 Speculative-Grade Liquidity Rating reflects
Moody's expectation of good liquidity over the next 12-18 months.
Pro forma for the proposed financing, the company's liquidity would
be supported by $33 million of cash and full availability under its
$300 million ABL facility. The ABL facility is governed by a
springing fixed charge coverage ratio of 1.0x, which comes into
effect if availability under the ABL is less than the greater of
(i) $25 million or (ii) the lesser of 10% of a) the borrowing base
or b) the total revolver availability. Moody's does not expect the
company to trigger the springing financial covenant over the next
12 to 18 months. Moody's does not expect the proposed term loan to
include any financial maintenance covenants.

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

The ratings could be upgraded if:

-- Debt-to-EBITDA is below 4.0x for a sustained period of time

-- Retained cash flow to net debt is above 15%

-- The company improves its liquidity and free cash flow

The ratings could be downgraded if:

-- Debt-to-EBITDA is above 5.0x for a sustained period of time

-- EBIT-to-interest expense is below 2.0x for a sustained period
of time

-- Retained cash flow to net debt is below 10%

-- The company's liquidity deteriorates

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

Headquartered in Euless, Texas, US Concrete is a publicly traded
company on the NASDAQ with the ticker symbol [USCR]. The company
operates within two primary segments: ready-mixed concrete and
aggregate products. The company is one of the leading producers of
ready-mixed concrete in north and west Texas, northern California,
New Jersey, New York, Washington DC, and the US Virgin Islands.

The company has 194 ready-mixed concrete operating facilities and
20 aggregates producing facilities. In 2020, USCR produced 12.6
million tons of aggregates and 8.2 million cubic yards in ready mix
concrete.


VERANO RECOVERY: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------
Debtor: Verano Recovery, LLC, a California LLC
        690 East Green Street
        Suite 200
        Pasadena, CA 91101

Business Description: The Debtor's primary asset is a vacant land
                      located in Cathedral City, California.

Chapter 11 Petition Date: May 19, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-14127

Judge: Hon. Sheri Bluebond

Debtor's Counsel: Marc C. Forsythe, Esq.
                  GOE FORSYTHE & HODGES LLP
                  18101 Von Karman Avenue
                  Suite 1200
                  Irvine, CA 92612-7127
                  Tel: (949) 798-2460
                  Email: mforsythe@goeforlaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jim Ahmad, president of its Manager,
Inland Communities Corp.

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

https://www.pacermonitor.com/view/3DYJXVI/Verano_Recovery_LLC_a_California__cacbke-21-14127__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Eight Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Aguilar Consulting Inc.         Civil Engineering        $1,200
2155 Chicago Avenue                for City Access
Suite 304                          Road Off of Date
Riverside, CA 92507                Palm
Ceazar Aguilar P.E.
Tel: (951) 300-1431
Email: caguilar@aguilarconsultinginc.com

2. Cathedral City Lock                 Locksmith              $100
& Safe
P.O. Box 10325
Palm Desert, CA 92555
Sal
Tel: (760) 340-1555
Email: cclockandsafe@verizon.net

3. Cline Carroll &                    Accounting/          $12,000
Bartell LLP                         Audit Services
9190 Irvine Center Drive
Irvine, CA 92618
Renee Bartell
Tel: (949) 450-0555
Email: renee@ccbcpas.com

4. Corbett, Steelman &                 Attorney             $4,752
Spector, APC                           Services
18200 Von Karman Avenue
Suite 825
Irvine, CA
92612-7148
Bruce R. Corbett
Tel: (949) 553-9266/
ext.244
Email: brcorbett@corbstel.com

5. Development Planning             Consulting &              $100
& Financing Gr                       Financing
27127 Calle Arroyo
Suite 1910
San Juan
Capistrano, CA 92675
Chris Cole
Tel: (949) 218-6020
Email: chris.col@dpfg.com

6. MTY Consulting Inc.                Project               $3,500
7268 Miracle Mile                   Management &
Riverside, CA 92506                 Engineering
Mohamad Younes                     coordination
Tel: (951) 300-8268
Email: Mohamad.y@inlandcorp.com

7. Rio Vista Village               Landscaping for          $5,000
Community Assiciation              Basin 284 & 285
42635 Melanie Place
Suite 103
Palm Desert, CA 92111
Brandi Wilson
Tel: 760-346-1161
Email: bwilson@drminternet.com

8. Valley Lock & Safe                 Locksmith               $410
68-100 Ramon Rd, C-11
Cathedral City, CA
92234
Craig Randal Smothers
Tel: (760) 321-5397


VYANT BIO: Incurs $7.4 Million Net Loss in First Quarter
--------------------------------------------------------
Vyant Bio, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $7.37
million on $222,000 of total revenues for the three months ended
March 31, 2021, compared to a net loss of $1.97 million on $168,000
of total revenues for the three months ended March 31, 2020.

As of March 31, 2021, the Company had $72.36 million in total
assets, $8.47 million in total liabilities, and $63.89 million in
total stockholders' equity.

Vyant Bio said, "The Company expects to continue to incur operating
losses in the future, as the costs of being public have significant
effect on losses that keep the Company from being profitable and as
the Company furthers its drug discovery efforts.  The Company
expects losses to continue, only to the extent that the business
does not outpace the public company-related expenses, such as legal
and audit fees and director's and officer's liability insurance,
and drug discovery costs are not offset by non-dilutive funding
such as revenues from licensing or other collaborations.  These
losses have had, and will continue to have, an adverse effect on
the Company's working capital, total assets and stockholders'
equity.  Because of the numerous risks and uncertainties associated
with its revenue growth and costs associated with being a public
company and drug discovery company, the Company is unable to
predict when it will become profitable, and it may never become
profitable.  Even if the Company does achieve profitability, it may
not be able to sustain or increase profitability on a quarterly or
annual basis.  The Company's inability to achieve and then maintain
profitability would negatively affect its business, financial
condition, results of operations and cash flows."

                       Management Commentary

Jay Roberts, chief executive officer of Vyant Bio stated, "in Q1
2021, we reached an important milestone with the closing of the
merger with StemoniX, uniquely positioning the combined company to
focus our business on discovering applications for novel and
repurposed therapeutics.  We believe that drug discovery needs to
progressively evolve as we know the traditional methods and models
for predicting safe and effective drugs have under-performed, as
evidenced by the billions of dollars and years of time it takes to
bring novel drugs to market.  With this as a backdrop, we are
focusing our business on converging an impactful approach to drug
discovery with data science and biology-driven technologies at the
core with engineering disciplines and regulatory expertise."

"Vyant Bio has commercialized the development, engineering and
manufacturing of disease models, built on its induced pluripotent
stem cell ("iPSC") technology, and has developed neural and cardiac
screening platforms, which are used to screen novel and repurposed
compound targets," stated Ping Yeh, Vyant Bio's chief innovation
officer.  "The most mature disease models are being used to find
therapeutic candidates in the central nervous system with its
microBrain, driven by a focus on Rett Syndrome and CDKL5
neurological disorders.  With the addition of the vivoPharm cancer
cell-line assets and scientific expertise in oncology, the Company
believes it can also advance models targeting Glioblastoma and
Parkinson's disease.  The team has also made progress with our
microHeart platform, so we believe there will be continued interest
from partners with an interest in Cardiac Fibrosis and Rett
Syndrome," Mr. Yeh continued.

"Our human-derived models, combined with the latest data science
and software techniques, can identify and rank order repurposed and
novel compounds by target.  In our current drug discovery efforts,
we aim to leverage our iPSC technology to identify drug candidates
for licensure or clinical development.  We are in active
discussions with prospective pharma partners to offer exclusive
licenses to certain disease models, and expect to enter into
similar license agreements for access to both novel and repurposed
therapies. The Company is striving to receive a mix of upfront
payments, licensing fees, milestone-based fees and ongoing royalty
payments," Mr. Yeh concluded.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1349929/000149315221011952/form10q.htm

                         About Vyant Bio

Vyant Bio, Inc. (formerly known as Cancer Genetics, Inc.) is
emerging as an advanced biotechnology drug discovery company.  With
capabilities in data, science (both biology and chemistry),
engineering and regulatory, the Company is rapidly identifying
small and large molecule therapeutics and derisking decision making
through multiple in silico, in vitro and in vivo modalities.

Vyant Bio reported a net loss of $8 million for the year ended Dec.
31, 2020, compared to a net loss of $6.71 million for the year
ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had $8.35
million in total assets, $4.37 million in total liabilities, and
$3.98 million in total stockholders' equity.


W. KENT GANSKE: $270K Sale of Sun Prairie Asset to Steinbeck OK'd
-----------------------------------------------------------------
Judge Katherine Maloney Perhach of the U.S. Bankruptcy Court for
the Eastern District of Wisconsin authorized W. Kent Ganske and
Julie L. Ganske to sell their condominium unit located at 886
Stonehaven Drive, Unit 31, in Sun Prairie, County of Dane,
Wisconsin, to Shirley Steinbeck for $270,000.

The sale is free and clear of liens and encumbrances, with liens
attaching to the net proceeds.

The Debtors are authorized to pay Closing Costs out of the closing
proceeds.

The broker's commission as provided in the Second Listing Contract
is approved and the Debtors are authorized to disburse the
commission fees accordingly upon the sale of the Property.

The payment of the sale's net proceeds after Closing Costs to
United Cooperative is approved.

The stay of the Order provided in F.R.B.P. 6004 is waived, in order
to allow the sale to proceed as scheduled.

W. Kent Ganske and Julie L. Ganske sought Chapter 11 protection
(Bankr. E.D. Wisc. Case No. 20-21042) on Feb. 11, 2020.



WATERVILLE-MONCLOVA: Seeks to Hire Reichle Klein Group as Realtor
-----------------------------------------------------------------
Waterville-Monclova Properties, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Ohio to employ real
estate services firm, Reichle Klein Group.

The Debtor needs the services of the firm to market and sell its
real property located at 1440 Waterville-Monclova Road, Waterville,
Ohio.

The firm will be paid 7 percent commission on the total purchase
price.

Ronald Jurgenson of Reichle Klein 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:

     Ronald J. Jurgenson
     Reichle Klein Group
     550 N Summit St.
     Toledo, OH 43604
     Tel: (419) 861-1100
     Fax: (419) 861-1170

               About Waterville-Monclova Properties

Waterville-Monclova Properties, LLC is a Delta, Ohio-based company
formed in 2006. Its business operations consist of holding and
renting certain real property.

Waterville-Monclova Properties sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 21-30508) on
March 26, 2021. In the petition signed by Peggy Toedter, managing
member, the Debtor disclosed up to $10 million in both assets and
liabilities.  Eric R. Neuman, Esq., at Diller & Rice, is the
Debtor's legal counsel.

Judge Mary Ann Whipple oversees the case.  Patricia B. Fugee is the
Subchapter V trustee appointed in the Debtor's bankruptcy case.


WITCHEY ENTERPRISES: June 24 Hearing on Disclosure Statement
------------------------------------------------------------
Judge Patricia M. Mayer has entered an order that the hearing to
consider approval of the amended disclosure statement of Witchey
Enterprises, Inc., will be held at Max Rosenn US Courthouse,
Courtroom 2, 197 South Main Street, Wilkes−Barre, PA 18701 on
June 24, 2021, at 1:00 p.m.  June 21, 2021, is fixed as the last
day for filing and serving written objections to the amended
disclosure statement.

                      About Witchey Enterprises

Witchey Enterprises, Inc., a Wilkes-Barre, Pa.-based provider of
courier and express delivery services, filed a Chapter 11 petition
(Bankr. M.D. Pa. Case No. 19-00645) on Feb. 14, 2019.  Louis
Witchey, president, signed the petition.  At the time of filing,
the Debtor had between $1 million and $10 million in both assets
and liabilities.  Judge Patricia M. Mayer oversees the case.  The
Debtor tapped Andrew Joseph Katsock, III, Esq., as legal counsel
and David L. Haldeman as accountant.


WORK CAT: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Work Cat Florida LLC
           f/k/a Work Cat Trans Gulf, LLC
        821 South Newport Avenue
        Tampa, FL 33606

Business Description: Work Cat Florida LLC has been in business
                      since August 2020 as a short sea shipping
                      operation that provides trans-Gulf of Mexico
                      container and roll on/roll off freight
                      transportation services utilizing its own
                      proprietary vessel design known as the "Work
                      Cat."  Specifically, the Work Cat is a
                      modern 400 foot catamaran capable of
                      transporting 300 truckload equivalent
                      shipments between the ports of Tampa,
                      Florida and Brownsville, Texas.

Chapter 11 Petition Date: May 18, 2021

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 21-02588

Debtor's Counsel: Eric D. Jacobs, Esq.
                  GENOVESE JOBLOVE & BATTISTA, P.A.
                  100 SE 2nd St.
                  44th Floor
                  Miami, FL 33131
                  Tel: 813-439-3100

Total Assets: $696,377

Total Liabilities: $6,940,094

The petition was signed by Chris Raley, CEO.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/UF4JIBY/Work_Cat_Florida_LLC__flmbke-21-02588__0001.0.pdf?mcid=tGE4TAMA


YUM! BRANDS: Egan-Jones Keeps B+ Senior Unsecured Ratings
---------------------------------------------------------
Egan-Jones Ratings Company, on May 7, 2021, maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by Yum! Brands, Inc.

Headquartered in Louisville, Kentucky, Yum! Brands, Inc. owns and
franchises quick-service restaurants worldwide.



[*] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power
----------------------------------------------------------------
Authors: Arthur Fleischer, Jr.,
Geoffrey C. Hazard, Jr., and
Miriam Z. Klipper
Publisher: Beard Books
Softcover: 248 pages
List Price: $34.95

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/1587981629/internetbankrupt
A ruling by the Delaware Supreme Court on January 29, 1985 was a
wake-up call to directors of U. S. corporations. On this date,
overruling a lower court decision, the Delaware Supreme Court ruled
that the nine board members of Chicago company Trans Union
Corporation were "guilty of breaching their duty to the company's
shareholders." What the board members had done was agree to sell
Trans Union without a satisfactory review of its value. The guilty
board members were ordered by the Court to pay "the difference
between the per share selling price and the 'real' market value of
the company's shares."

Needless to say, the nine Trans Union directors were shocked at the
guilt verdict and the punishment. The chairman of the board, Jerome
Van Gorkom, was a lawyer and a CPA who was also a board member of
other large, respected corporations. For the most part, it was he
who had put together the terms of the potential sale, including
setting value of the company's stock at $55.00 even though it was
trading at about $38.00 per share. News of the possible sale
immediately drove the stock up to $51.50 per share, and was
commented on favorably in a "New York Times" business article.
Still, Van Gorkom and the other directors were found guilty of
breaching their duty, and ordered by Delaware's highest court to
pay a sum to injured parties that would be financially ruinous.
This was clearly more than board members of the Trans Union
Corporation or any other corporation had ever bargained for. It was
more than board members had ever conceived was possible without
evidence of fraud or graft.

The three authors are all attorneys who have worked at the highest
levels of the legal field, business, and government. Fleischer is
the senior partner of the law firm Fried, Frank, Harris, Schriver &
Jacobson at the head of its mergers and acquisitions department.
He's also the author of the textbook "Takeover Defenses" which is
in its 6th edition. Hazard is a Professor of Law and former
reporter for the American Bar Association's special committee on
the lawyers' ethics code; while Klipper has been a New York
assistant district attorney prosecuting corporate and financial
fraud, and also a corporate attorney on Wall Street. Using the
Trans Union Corporation case as a watershed event for members of
boards of directors, the highly-experienced legal professionals lay
out the new ground rules for board members. In laying out the
circumstances and facts of a number of cases; keen, concise
analyses of these; and finding where and how board members went
wrong, the authors provide guidance for corporate directors, top
executives, and corporate and private business attorneys on issues,
processes, and decisions of critical importance to them. Household
International, Union Carbide, Gelco Corp., Revlon, SCM, and
Freuhauf are other major corporations whose merger-and-acquisitions
activities resulted in court cases that the authors study to the
benefit of readers. The Boards of Directors of these as well as
Trans Union and their positions with other companies are listed in
the appendix. Many other corporations and their board members are
also referred to in the text.

With respect to each of the cases it deals with, BOARD GAMES
outlines the business environment, identifies important
individuals, analyzes decisions, and discusses considerations
regarding laws, government regulations, and corporate practice. In
all of this, however, given the exceptional legal background of the
three authors, the book recurringly brings into the picture the
legalities applying to the activities and decisions of board
members and in many instances, court rulings on these. Passages
from court transcripts are occasionally recorded and commented on.
Elsewhere, legal terms and concepts -- e. g., "gross nonattendance"
-- are defined as much as they can be. In one place, the authors
discuss six levels of responsibility for board members from "assure
proper result" through negligence up to fraud. Without being overly
technical, the authors' legal experience and guidance is
continually in the forefront. Needless to say, with this, BOARD
GAMES is a work of importance to board members and others with the
responsibility of overseeing and running corporations in the
present-day, post-Enron business environment where shareholders and
government officials are scrutinizing their behavior and
decisions.



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 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 ***