/raid1/www/Hosts/bankrupt/TCR_Public/210723.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, July 23, 2021, Vol. 25, No. 203

                            Headlines

1362 H ST. DEVELOPMENT: Seeks Approval to Hire Financial Advisor
232 SEIGEL: Hearing on Disclosures and Plan Slated for October 9
232 SEIGEL: May Recapitalize or Sell, Liquidate in Two-Option Plan
37 VENTURES LLC: Investment Liquidation to Fund Plan
AEROCENTURY CORP: Unsecured Claims Unimpaired in Toggle Plan

AIWA CORP: Seeks to Employ FrankGecker as Bankruptcy Counsel
ALEX AND ANI: Wins Cash Collateral Access
ALTERRA MOUNTAIN: Moody's Rates New $2.2BB Loans 'B2'
ALTERRA MOUNTAIN: S&P Alters Outlook to Stable, Affirms 'B' ICR
ALVOGEN PHARMA: 2023 Term Loan Add-on No Impact on Moody's B2 CFR

AMC ENTERTAINMENT: Buys Two LA Theaters Closed by Pandemic
ARONOWITZ DELAWARE: Case Summary & 3 Unsecured Creditors
ASHTON WOODS: Moody's Hikes CFR to B1 & Rates New $300MM Notes B1
ASHTON WOODS: S&P Assigns 'B' Rating on $300MM Sr. Unsecured Notes
AUGUSTA INVESTMENTS: Cash Collateral Denied as Moot

AVENTURA HOTEL: Seeks to Extend Plan Exclusivity Thru Sept. 10
BARENZ INVESTMENTS: Wins Cash Collateral Access Thru Oct. 12
BHATT CORP: Wins Cash Collateral Access Thru July 31
BLUBELLE LLC: Disclosures OK'd, August 25 Confirmation Hearing Set
BOSTON SOLUTIONS: Wins Cash Collateral Access Thru Jul 30

BOUCHARD TRANSPORTATION: JMB Wins Bankruptcy Auction
BOY SCOUTS OF AMERICA: Continues Mediation Hoping to Broaden Ch.11
BRAD RAGAN RECYCLING: U.S. Trustee Unable to Appoint Committee
BUILDERS FIRSTSOURCE: Moody's Rates Proposed Sr. Unsec. Notes 'Ba3'
BUILDERS FIRSTSOURCE: S&P Upgrades ICR to 'BB' on BMC Merger

CARBONLITE HOLDINGS: Court Okays Liquidation Plan for Creditor Vote
CARNIVAL CORP: S&P Rates New $2.41BB Senior Secured Notes 'BB-'
CCMW LLC: Bankruptcy Administrator to Form Creditors' Committee
CHESTER J. MARINE: Cain & Skarnulis Represents Standridge Claimants
CITY WIDE COMMUNITY: Seeks to Hire Hilco as Real Estate Agent

CONCISE INC: Amends Plan to Add AmeriFactors as Secured Claimholder
CORP GROUP BANKING: U.S. Trustee Appoints Creditors' Committee
CORP GROUP: Seeks Approval to Hire Young Conaway as Co-Counsel
CORP GROUP: Seeks Court Approval to Hire Investment Bankers
CORP GROUP: Seeks to Hire Carey y Cia as Special Chilean Counsel

CORP GROUP: Seeks to Hire Prime Clerk as Administrative Advisor
CORP GROUP: Seeks to Hire RPA Asset Management as Financial Advisor
CORP GROUP: Seeks to Hire Simpson Thacher & Bartlett as Counsel
CORPORATE COLOCATION: Seeks OK on Cash Deal with Landlord, SBA
COSMOLEDO LLC: Maison Plans to Give Unused PPP Loan to Creditors

CRAVE BRANDS: Wins Cash Collateral Access Thru August 4
D.W. TRIM: Unsecured Creditors Will Recover 31% Under Plan
DANA INC: Moody's Affirms Ba3 CFR & Alters Outlook to Stable
DAVIDZON MEDIA: Unsecureds Asserting $78K to Get Paid 100% in Plan
DEER CREEK: Court Extends Plan Exclusivity Until August 2

DIOCESE OF WINONA: Disclosures OK'd, Sept. 23 Hearing on Plan Fixed
DJM HOLDINGS: Cabana Series IV Opposes Plan & Disclosures
DJM HOLDINGS: Creditor Complains of Undervalued Collateral
EKSO BIONICS: Hires WithumSmith+Brown as New Auditor
ENKOGS1 LLC: Bid to Use Cash Collateral Denied as Moot

FIRST TO THE FINISH: Wins Cash Collateral Access Thru Aug 31
FRANSCESA'S HOLDINGS: Court Okays Bankruptcy Estate Wind-Down Plan
FRONTIER COMMUNICATIONS: Touted by Cowen for Fiber Expansion
GIRARDI & KEESE: Ex-Lawyers Lost Bid in Tossing Missing Money Suit
GRUDEN ACQUISITION: Moody's Withdraws B3 CFR on Debt Redemption

GRUPO AEROMEXICO: Negotiating With New Investors
GVS TEXAS: Seeks to Employ Sidley Austin as Bankruptcy Counsel
HILLIARD CHAPEL: May Refinance Loan or Sell Assets to Settle Claims
IDEAL CARE: Case Summary & 6 Unsecured Creditors
JOHNSON & JOHSON: Chooses Jones Day Handle Talc Unit's Bankruptcy

JS&H PROPERTIES: Taps Bose McKinney & Evans as Bankruptcy Counsel
JUMP FINANCIAL: Moody's Gives Ba1 CFR & Rates First Lien Loan Ba2
JUMP FINANCIAL: S&P Assigns 'BB-' ICR, Outlook Stable
KATERRA INC: Court Okays $35 Million SoftBank Bankruptcy Loan
LIBERTY POWER: Affiliates Tap Berkeley as Restructuring Advisor

LSB INDUSTRIES: Moody's Puts Caa1 CFR Under Review for Upgrade
MALLINCKRODT PLC: Shareholders' Row Set to be Aired in Irish Court
MANHATTAN HOSPITALITY: HHF Files Limited Objection to Disclosures
MARY BRICKELL: Case Summary & 20 Largest Unsecured Creditors
MATLINPATTERSON GLOBAL: Seeks Approval to Tap Restructuring Advisor

MATLINPATTERSON GLOBAL: Seeks to Hire Altemis Capital, Appoint CFO
MATLINPATTERSON GLOBAL: Taps Kurtzman as Administrative Advisor
MATLINPATTERSON GLOBAL: Taps Schulte Roth as Conflicts Counsel
MATLINPATTERSON GLOBAL: Taps Simpson Thacher as Legal Counsel
MEDIAOCEAN LLC: Moody's Affirms 'B2' CFR, Outlook Stable

MEDICAL PROPERTIES: S&P Affirms 'BB+' ICR, Outlook Stable
MILLENNIUM PARK: Moody's Withdraws Caa1 CFR on Debt Repayment
MY2011 GRAND: August 31 Disclosure Statement Hearing Set
NB LOFT: Hearing Today on Bid to Use Fannie Mae's Cash Collateral
NET ELEMENT: Inks Second Amended Plan of Merger With Mullen

NK H ST: Taps Analytic Financial Group as Financial Advisor
PELICAN FAMILY: Wins Cash Collateral Access Thru Aug 17
PUERTO RICO AQUEDUCT: To Refinance Its $1.8 Billion Debt
PURDUE PHARMA: CMFNC Says Sixth Amended Joint Plan Unconfirmable
PURDUE PHARMA: Conn. AG Tong Balks at Sanctions in Bankruptcy Case

PURDUE PHARMA: Gulf & St. Paul Say Insurance Provision Insufficient
PURDUE PHARMA: John H. Stewart Opposes Sixth Amended Joint Plan
PURDUE PHARMA: Opoid Settlement Plan Experiences DOJ Objections
QUANTUM VALVE: Wins Cash Collateral Access Thru Dec 31
RADIOLOGY PARTNERS: Moody's Ups CFR to B3 & First Lien Loans to B2

RAPID AMERICAN CORP: Sept. 9 Hearing on Plan, Disclosures Fixed
REGUS CORP: To Liquidate Its Eight Locations in Chapter 11
RIC METUCHEN: Wins September 12 Plan Exclusivity Extension
RS AIR: Contribution, Sale and Insurance Proceeds to Fund Plan
SEADRILL LTD: Can't Force Offshore Oil Rid Auction, Says Creditor

SEADRILL LTD: Transocean Group and Noble Corp Vying for Its Assets
SHAMROCK FINANCE: Seeks December 31 Plan Exclusivity Extension
SHARITY MINISTRIES: Taps Baker & Hostetler as Bankruptcy Counsel
SHIFT4 PAYMENTS: New Convertible Notes No Impact on Moody's B2 CFR
SKY STEEL: Wins Cash Collateral Access Thru July 27

SNL BALDWIN: September 2 Disclosure Statement Hearing Set
SOMETHING SWEET: U.S. Trustee Appoints Creditors' Committee
SPI ENERGY: Appoints New SVP for Investor Relations and Finance
SRI VARI: May Use Cash Collateral Thru August 10
TALEN ENERGY: Fitch Lowers LT IDR to 'B-' & Alters Outlook to Neg.

TERVITA CORP: Moody's Withdraws B2 CFR Following Reorganization
TEXAS TAXI: May Use Notre Capital's Cash Collateral Thru Sept. 20
TIGER OAK: Trustee Seeks OK on Cash Deal with Choice Financial
TRANSDERMAL SPECIALITIES: U.S. Trustee Appoints Creditors Panel
TRIDENT TPI: Moody's Assigns B2 Rating on New First Lien Term Loan

TRIDENT TPI: S&P Alters Outlook to Stable, Affirms 'B-' ICR
UNIVERSAL ACADEMY: S&P Raises 2014 Revenue Bond Rating to 'BB-'
URGENT CARE: Taps Steinhilber Swanson as Bankruptcy Counsel
VAL'S FOOD: Court Confirms Amended Plan, Aug. 2 Auction Set
VILLAS OF WINDMILL: Confirmation Hearing Set for September 8

VINE ENERGY: Moody's Rates $150MM Second Lien Term Loan 'Ba2'
VT TOPCO: Moody's Affirms 'B3' CFR & Rates First Lien Loans 'B2'
VT TOPCO: S&P Affirms B ICR on Debt-Funded Shareholder Distribution
WATER MARBLE: Gets OK to Hire Moody Williams as Appraiser
WEINSTEIN CO: Harvey Extradited to California Prior to LA Trial

WEINSTEIN CO: Owner Pleads Not Guilty to California Rape Charges
WHITE RIVER: Disclosure Statement Hearing Reset to Sept. 9
WILDWOOD VILLAGES: Hearing Today on Cash Collateral Access
WOODBRIDGE HOSPITALITY: U.S. Trustee Unable to Appoint Committee
ZAYAT STABLES: Court Orders Zayat Family to Divulge Finances

[*] 2020 Cares Act Bankruptcy Provisions Extended
[^] BOOK REVIEW: BOARD GAMES - Changing Shape of Corporate Power

                            *********

1362 H ST. DEVELOPMENT: Seeks Approval to Hire Financial Advisor
----------------------------------------------------------------
1362 H St. Development, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Columbia to hire Analytic Financial
Group, LLC as its financial advisor.

The firm's services include:

     (a) providing guidance in the preparation and compilation of
the Debtor's Chapter 11 bankruptcy operating reports;

     (b) reviewing and analyzing the Debtor's current financial
status;

     (c) preparing financial projections; and
  
     (d) providing other financial services as needed and requested
by the Debtor.

The firm's hourly rates are as follows:

     Scott W. Miller        $250 per hour
     George Sokul           $175 per hour

The Debtor paid $2,500 to the law firm as a retainer fee.

Scott Miller, president of Analytic Financial 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:

     Scott W. Miller
     Analytic Financial Group, LLC
     222 Hillsboro Drive, Suite 201,
     Silver Spring, MD 20902
     Tel.: (301) 602-9258
     Email: scott@corporatematters.com

                    About 1362 H St. Development

1362 H St. Development, LLC is the owner of a restaurant located at
1362 H St. NE, Washington, DC, having a comparable sale value of $2
million.

1362 H St. Development sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. D.C. Case No. 21-00138) on May 20, 2021.
At the time of the filing, the Debtor had between $1 million and
$10 million in both assets and liabilities.  Judge Elizabeth L.
Gunn oversees the case.  Capital Justice Attorneys, LLP and
Analytic Financial Group, LLC serve as the Debtor's legal counsel
and financial advisor, respectively.


232 SEIGEL: Hearing on Disclosures and Plan Slated for October 9
----------------------------------------------------------------
The Honorable Robert D. Drain will convene a hearing on October 9,
2020 at 10 a.m. to consider the application filed by 232 Seigel
Development LLC for approval of the Disclosure Statement relating
to its Chapter 11 Plan.  Objections must be filed so as to be
received at least seven days prior to the Hearing date.

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

                   About 232 Seigel Acquisition

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

232 Seigel Development LLC and 232 Seigel Acquisition LLC sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 20-22844 to
20-22845) on July 14, 2020. 232 Seigel Acquisition disclosed total
assets of $18,000,000 and total liabilities of $7,112,316.  The
Honorable Robert D. Drain is the case judge.  The Debtors tapped
Mark Frankel, Esq., at Backenroth Frankel & Krinsky, LLP, as
counsel.





232 SEIGEL: May Recapitalize or Sell, Liquidate in Two-Option Plan
------------------------------------------------------------------
232 Seigel Development LLC (Development) and 232 Seigel Acquisition
LLC (Acquisition) filed with the Bankruptcy Court a Third Amended
Joint Plan and related Disclosure Statement dated July 16, 2021.

Debtor Acquisition owns the real property at 232 Seigel Street, in
Brooklyn, New York, which is an assemblage of properties with
approved plans to develop full-service hotel with 150 rooms,
amenities, community space, parking and other features.  The
Debtors had entered into a contract with 232 Seigel Property, LLC
to sell the Property.  Shortly thereafter, the mortgage market was
frozen. The parties, for several times, extended the time for the
Purchaser to close the sale.  The extension period, however,
expired; the $100,000 extension fee still unpaid and the Purchaser
has not closed the sale.

The Property is subject to a mortgage held by DB Seigel LLC
(Mortgagee).  The Mortgagee has filed proofs of claim against the
Debtors for $6,378,750.  An affiliate of the Mortgagee, DB 232
Seigel Mezz LLC (Mezz Lender), asserts a $3,825,520 claim (Mezz
Loan) against Debtor Development secured by Development's
membership interests in Debtor Acquisition.  

The Mezz Lender had scheduled a sale of the Membership Interests
for April 7, 2020.  The sale has been adjourned several times until
that final adjournment notice, which appeared to potentially
contemplate the sale of both the Property as well as the Membership
Interests.  The Debtors decided to file Chapter 11 petitions on
July 14, 2020 or risk losing the equity in the Property, and their
ability to pay creditors.

                             The Plan

The Debtors' original Joint Plan filed on December 3, 2020 provided
for the sale of the Property.  Brokers, during this time, advised
against selling, reason for the Debtors to explore other exit
strategies.  To protect the value of the project as whole, there is
a deal to be made with a new investor to recapitalize Debtor
Development and pay off the Development Mezz Loan, conditioned on
dismissal of Debtor Acquisition's bankruptcy case, and then
recapitalize Acquisition or refinance the Property after the market
is more settled, and before foreclosure can occur.

The Debtors also explored the possibility of completing the DB
claim allowance litigation, and then moving forward with a
recapitalization exit strategy centered on deal to pay off the Mezz
Loan and to dismiss Debtor Acquisition's bankruptcy.  The Debtors
believe this to be the best result since all of Debtor
Development's creditors would be paid in full in cash, including
the Mezz Lender, whose claims would otherwise be extinguished in a
foreclosure by its affiliate Mortgagee.  

The Debtors, however, have not abandoned their filed Joint Plan for
a sale of the Property.  By the Amended Joint Plan filed on March
12, 2021, the Debtors proposed to market the Property with Newmark
& Company Real Estate.

The Amended Plan, therefore, has two options: (1) the
Recapitalization Option and (2) the Sale and Liquidation Option.
The two options, however, are mutually exclusive because a
condition to the Recapitalization Option is dismissal of Debtor
Acquisition's case. Only one of the two options may be the basis
for Plan confirmation.  At the confirmation hearing, the Bankruptcy
Court may confirm the Plan based on the option in the best interest
of creditors.

                   Means for Plan Implementation                 

Under the Recapitalization Option, payments will be made to Debtor
Development Claimants only by a new Plan Funder pursuant to the
terms and conditions to be supplied in a plan supplement on or
before October 27, 2021. Debtor Acquisition's case will be
dismissed.

Under the Sale and Liquidation Option, payments under the Plan will
be made from the Property Sale Proceeds of Debtor Acquisition's
Property. The Property shall be sold subject to higher and better
offers, as set forth in the Bidding Procedures, provided, however,
that the auction of the Property shall be conducted on or before
October 27, 2021, with the sale thereunder to close by November 28,
2021.  The Property shall be sold to the Purchaser, free and clear
of all liens, claims, and encumbrances, other than the usual and
customary utility easements, if any, appearing as of record or as
preserved in the Plan.  The Mortgagee shall be obligated to assign
of its mortgage to Purchaser's mortgagee, if any, in connection
with the sale of the Property under the Plan.  Marketing will
commence in July 2021 by Newmark & Company Real Estate, Inc.

  A. Debtor Development's Plan of Reorganization (Recapitalization
Option)

  * Development Class 1.  This Class consists of the Mezz Loan,
based a note and security interest in the Membership Interests, for
$3,825,520 as of the Petition Date. Class 1 will be paid on the
Effective Date for the Allowed Amount, plus interest at the
applicable rate as it accrues from the Petition Date through
payment date.

  * Development Class 2.  Priority Claims under Sections 507(a) of
the Bankruptcy Code.  Debtor Development estimates no Class 2
Claims.

  * Development Class 3.  Debtor Development estimates asserted
General Unsecured Claims totaling $10,223.  Class 3 Claims will be
paid on the Effective Date for the Allowed Amount, plus interest at
the Legal Rate as it accrues from the Petition Date through the
date of payment.

  * Development Class 4.  Existing Interest Holders will continue
to hold their Interests, but such Interests will be subordinate to
the preferred equity interest of the Plan Funder.


  B. Debtors' Plan of Reorganization (Sale and Liquidation Option)

     I. Claims against Debtor Acquisition

  * Acquisition Class 1.  This Class consists of New York City
Liens which filed Proof of Claim for $24,910.  Acquisition Class 1
will be paid in full in Cash of Allowed Amount on the Effective
Date, plus interest accrued from the Petition Date through the date
of payment.

  * Acquisition Class 2.  DB Seigel LLC's first mortgage on the
Property for asserted amount of $6,378,750.  

This Class will be paid on Effective Date of available Cash from
the Property Sale Proceeds up to the Allowed Amount, plus accrued
from the Petition Date through the payment date, after payment of
both Debtors' Administrative Claims, unclassified Priority Tax
Claims, and Priority Claims. If the Allowed Amount of the Class 2
Claim is not paid in full, the deficiency shall be a Class 5
Claim.

  * Acquisition Class 3

All Island Masonry & Concrete, mechanics Lien on the Property based
on Proof Claim filed for $2,322,145.  This Class will be paid on
Effective Date of available Cash from the Property Sale Proceeds up
to the Allowed Amount of the Class 2 Claim plus interest at the
applicable contract rate as it accrues from the Petition Date
through the date of payment, after payment of both Debtors'
Administrative Claims, unclassified Priority Tax Claims, Priority
Claims, Class 1 and Class 2 Claims.  If the Allowed Amount of the
Class 2 Claim is not paid in full, the deficiency shall be a Class
5 Claim.

  * Acquisition Class 4.  Priority Claims under Sections 507(a) of
the Bankruptcy Code.  Debtor Acquisition estimates $0 is due under
this Class.

  * Acquisition Class 5

General Unsecured Claims totaling $97,722, which will be paid on
Effective Date of available Cash from the Property Sale Proceeds up
to the Allowed Amount, plus interest accrued from the Petition Date
through the date of payment, after payment of both Debtors'
Administrative Claims, unclassified Priority Tax Claims, Priority
Claims, Class 1, 2, 3 and 4.  

  * Acquisition Class 6.  Debtors' sole Interest Holder.  This
Class will be paid after all of the Debtors' Administrative Claims,
unclassified Priority Tax Claims, and Priority Claims, Class 1, 2,
3, 4 and 5 Claims have been paid.

     II. Claims Against Debtor Development

  * Development Class 1.  The Mezz Lender holds the Mezz Loan,
consisting of a note and security interest in the Membership
Interests based on proof of claim for $3,825,520.

  * Development Class 2.  Priority Claims under Sections 507(a) of
the Bankruptcy Code.  Debtor Development estimates no Class 2
Claims.

  * Development Class 3

Debtor Development estimates General Unsecured Claims at $10,233.
Payment on Effective Date of available Cash from the distribution
to Acquisition Class 6 shall be made after payment of the Debtor
Development's Administrative Claims, unclassified Priority tax
Claims and Class 1 and 2 Claims, up to the Allowed Amount of each
Class 3 Claim, plus interest accrued from the Petition Date through
the date of payment.

  * Development Class 4.  Payment to Interest Holders on Effective
Date of available Cash shall be made after payment of all Claims
against both Debtors.

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

Counsel for the Debtors:

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

                   About 232 Seigel Acquisition

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

232 Seigel Development LLC and 232 Seigel Acquisition LLC sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 20-22844 to
20-22845) on July 14, 2020.  232 Seigel Acquisition disclosed total
assets of $18,000,000 and total liabilities of $7,112,316.  The
Honorable Robert D. Drain is the case judge.  The Debtors tapped
Mark Frankel, Esq., at Backenroth Frankel & Krinsky, LLP, as
counsel.



37 VENTURES LLC: Investment Liquidation to Fund Plan
----------------------------------------------------
37 Ventures, LLC and Larada Sciences, Inc. filed with the
Bankruptcy Court a Chapter 11 Plan and Disclosure Statement dated
July 16, 2021.  

37 Ventures is a venture capital investment company founded in 2010
by Yuri Pikover as 37 Technology Ventures.  Mr. Pikover later
diversified his portfolio of investments into different industries.
To formally mark this transition to a diversified investment
strategy, on June 15, 2013, Mr. Pikover caused to be filed with the
Delaware Secretary of State a Certificate of Amendment that changed
the company's name from "37 Technology Ventures, LLC" to "37
Ventures, LLC."

37 Ventures' financial difficulties arise from two separate
investments. The first is Larada, out of which arises  Alignment
Debt Holdings I, LLC's $10MM breach of guaranty claim against 37
Ventures.  On February 8, 2021, Alignment commenced a civil action
in New York State court against 37 Ventures by filing of a Motion
for Summary Judgment in Lieu of Complaint.  It thereby sought to
enforce the Guaranty signed by 37 Ventures in connection with the
Loan to Larada.

The other difficulty stem from a judgment Knight and Bishop
obtained from the Los Angeles Superior Court on August 25, 2020
against 37 Technology Ventures and two other shareholders.  Knight
and Bishop, an investor in the now-defunct affiliated company,
Ninja Metrics, Inc., was awarded by the Los Angeles Superior Court
$3.7MM in attorneys' fees and costs it incurred to obtain a
declaratory judgment that 37 Ventures had wrongfully removed Knight
and Bishop's designated director (Mark Kolokotrones) from the board
of Ninja Metrics.  In mid-December 2020, Knight and Bishop filed a
motion to correct the judgment so that it would include 37 Ventures
LLC as an additional and/or alternative to 37 Technology Ventures,
as one of the three judgment debtors on the judgment. It was, thus,
positioning itself to levy the Ninja Metrics judgment on the assets
of 37 Ventures.  37 Ventures classified Knight and Bishop' Claim as
unsecured in Class 2.  

                           Plan Funding

Most of the venture capital investment securities that Mr. Pikover
had owned before the formation of 37 Technology Ventures were
transferred formally to the entity.  Mr. Pikeover personally holds
an interest in Caldera Medical, which interest he was unable to
transfer to 37 Ventures because such a transfer would terminate its
qualification as a Subchapter S Corporation, affecting other
Caldera shareholders.  Mr. Pikover, nonetheless, has committed in
the Plan to contribute to 37 Ventures for payment of the claims
against it so much of the net cash proceeds of any Caldera
Liquidity Event that occurs prior to payment in full of all claims
against 37 Ventures, subject to the right of Mr. Pikover to use net
cash proceeds to fund or establish a reserve for defense costs in
connection with any potential, pending, or threatened litigation by
Alignment or Knight and Bishop relating to their respective alleged
claims against Mr. Pikover.

Moreover, the Plan contemplates the following distribution of
proceeds received by respective Shareholders (Reorganized 37
Ventures and Mr. Pikover), upon the occurrence of a Company
Liquidity Event for any of the Subject Companies:

  * First, to pay all reasonable legal and accounting fees and
costs of the respective Shareholder and of the Plan Monitor
incurred in connection with the Company Liquidity Event;

  * Second, to fund the applicable Income Tax Reserve, determined
in accordance with and for further distribution as provided in the
Plan;

  * Third, if Caldera is the Subject Company giving rise to the
Liquidity Event Proceeds, the balance remaining after the first and
second uses above shall be contributed by Pikover to Reorganized 37
Ventures for further use in the Plan;

  * Fourth, from the remaining balance of the Liquidity Event Cash,
whether directly received by Reorganized 37 Ventures from a Subject
Company Liquidity Event or from the Caldera Contribution,
Reorganized 37 Ventures may reserve a reasonable amount of Cash to
fund the ongoing legal, accounting, administrative and operating
expenses of Reorganized 37 Ventures and of the Plan Monitor;

  * Fifth, the balance of the Cash proceeds shall be distributed to
the holders of Class 2 and Class 3 claims, Pro Rata; and

  * Sixth, after payment in full of Class 2 and Class 3 claims,
Reorganized 37 Ventures may, in its sole discretion, use a portion
or all of the remaining Company Liquidity Event Proceeds to pay
creditors of Larada or provide other financial support to Larada.


             Classes of Creditors and Interest holders

  * Class 1 (a) Priority Claims – 37 Ventures

  * Class 1(b) Priority Claims – Larada

Class 1(a) and 1(b) are unimpaired and are not entitled to vote.

  * Class 2 General Unsecured Claims – 37 Ventures

  * Class 3 Alignment Claim against 37 Ventures

  * Class 4 Alignment Secured Claim against Larada

  * Class 5 Alignment Deficiency Claim against Larada

  * Class 6 General Unsecured Claims against Larada

  * Class 7 Subdebt Holders

  * Class 8(a) Convenience Class Claims against Larada

  * Class 8(b) Convenience Class Claims against 37 Ventures

Classes 2 through 8 are impaired and may vote to accept or reject
the Plan.

  * Class 9 Equity Interests in 37 Ventures

  * Class 10 Equity Interests in Larada

Classes 9 and 10 are unimpaired.

               Treatment of General Unsecured Claims

  a. Class 2 General Unsecured Claims (37 Ventures) are estimated
at $3.7 million  

Interest on the Allowed General Unsecured Claims against 37
Ventures shall accrue at the Plan Rate from the Effective Date
until the Allowed General Unsecured Claims against 37 Ventures are
paid in full.  

In full and final satisfaction of Knight and Bishop's Allowed Class
2 Claims, Knight and Bishop shall receive distributions under one
of the two options described in subsections (i) and (ii) below,
depending on whether Robert Hawk timely pays the Hawk Contribution,
as contemplated in the Plan.

   (i) If, prior to the Effective Date, Hawk timely pays the Hawk
Contribution to Knight and Bishop, then on the 37 Ventures Initial
Distribution Date, Reorganized 37 Ventures will pay to Knight and
Bishop the balance of the Knight and Bishop Allowed Claim as
reduced by the Hawk Contribution, plus interest calculated at the
Plan Rate from the Petition Date until the date of payment.

  (ii) If Hawk does not timely pay the Hawk Contribution to Knight
and Bishop, Knight and Bishop will receive its Pro Rata share of
the amounts paid pursuant to Section 5.7 and 5.8 of the Plan
(shared Pro Rata with Alignment's Class 3 Claim against 37
Ventures).

(iii) In either case, the amount of the Knight and Bishop claim
shall be calculated at the time of each distribution after first
reducing the amount of the Knight and Bishop Claim by the amount of
all then prior payments made by or collections received by virtue
of judgment executions on the assets of Robert (Bob) Hawk or Dmitri
Williams on account of the judgment in the Ninja Metrics Case.

The unpaid balance, if any, of the Allowed Class 2 Claims,
including accrued but unpaid interest thereon, shall be fully due
and payable on December 31, 2026, unless paid prior to that date
from a Company Liquidity Event pursuant to the Plan.  

  b. Class 6 General Unsecured Claims against Larada aggregate
approximately $5.0 million

Interest on General Unsecured Claims shall accrue, post Effective
Date, at the Plan Rate.  

Larada shall pay in full Allowed General Unsecured Claims against
Larada, Pro Rata with the holders of Class 5 Claims against Larada,
as follows: (i) In full and final satisfaction, settlement,
release, and discharge of all Class 6 Claims, Larada shall make
Quarterly Pro Rata payments to holders of Class 5 and Class 6
Claims, in the Remaining Larada Monthly Amount until such Claims
are paid in full with interest, (ii) but not later than December
31, 2028, unless paid prior to that date from a Company Liquidity
Event as provided in the Plan.

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

Counsel for Debtor 37 Ventures, LLC:

   Gary E. Klausner, Esq.
   Eve H. Karasik, Esq.
   Jeffrey S. Kwong, Esq.
   Levene, Neale, Bender,
     Yoo & Brill L.L.P.
   10250 Constellation Blvd., Ste. 1700
   Los Angeles, CA 90067
   Telephone: (310) 229-1234
   Facsimile: (310) 229-1244
   Email: gek@lnbyb.com
          ehk@lnbyb.com
          jsk@lnbyb.com

Counsel for Debtor Larada Sciences, Inc.:

   George Hofmann, Esq.
   Cohne Kinghorn, P.C.
   111 East Broadway, 11th Floor
   Salt Lake City, UT 84111
   Telephone: (801) 363-4300

         - and -

   Derrick Talerico, Esq.
   David B. Zolkin, Esq.
   Zolkin Talerico LLP
   12121 Wilshire Blvd., Suite 1120
   Los Angeles, CA 90025
   Telephone: (424) 500-8551
   Facsimile: (424) 500-8951
   Email: dtalerico@ztlegal.com
          dzolkin@ztlegal.com

                         About 37 Ventures

37 Ventures, LLC, a company based in Thousand Oaks, Calif., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada
Sciences, Inc., a Utah-based company that owns and operates clinics
dedicated to head lice prevention and treatment, filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021.
The cases are jointly administered under Case No. 21-10261. Judge
Deborah J. Saltzman oversees the cases.

In their petitions, 37 Ventures and Larada Sciences disclosed
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.

Levene Neale Bender Yoo & Brill, LLP serves as 37 Ventures' legal
counsel.  Larada Sciences tapped Cohne Kinghorn, PC as bankruptcy
counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain
Advisory, LLC as financial advisor.


AEROCENTURY CORP: Unsecured Claims Unimpaired in Toggle Plan
------------------------------------------------------------
AeroCentury Corp., et al., submitted a Combined Disclosure
Statement and Joint Chapter 11 Plan.

The Debtors jointly propose the following combined Disclosure
Statement and Plan for the disposition of the Debtors' remaining
Assets and distribution of the proceeds of the Assets to the
Holders of Allowed Claims against the Debtors as set forth herein.
Each Debtor is a proponent of the Plan within the meaning of
Section 1129 of the Bankruptcy Code.

The combined Disclosure Statement and Plan consists of a toggle
between (i) the Sponsored Plan, which, pursuant to the terms of the
Plan Sponsor Agreement, the Debtors and the Plan Sponsor will agree
to a restructuring of the Debtors' businesses that will be
implemented through the Sponsored Plan, and (ii) the Stand-Alone
Plan, whereby the Debtors' remaining Assets will vest in the
Post-Effective Date Debtors and be monetized by the Plan
Administrator. The Debtors will file a document detailing the
treatment to be accorded to Holders of Interests in Class 7 no
later than 14 days before the Voting Deadline. If the definitive
Plan Sponsor Agreement is executed on or before 7 days prior to the
Voting Deadline, the Plan Sponsor Agreement will be included within
the Plan Supplement. If a Plan Sponsor Agreement is not executed
before 7 days prior to the Voting Deadline, the Debtors will file a
notice that they will seek confirmation of the Stand-Alone Plan.
Thus, this Plan contains both provisions applicable to a
reorganization pursuant to the terms of the Plan Sponsor Agreement,
as well as provisions only applicable under the Stand-Alone Plan
(as defined below).

Under the Plan, Class 5 General Unsecured Claims total $166,589.
Each Holder of an Allowed General Unsecured Claim shall receive in
full and final satisfaction and release of and in exchange for such
Allowed Class 5 Claim: (A) Cash equal to the amount of such Allowed
General Unsecured Claim; or (B) such other treatment which the Plan
Administrator or the Reorganized Debtors, as applicable, and the
Holder of such Allowed General Unsecured Claim have agreed upon in
writing.  Creditors will recover 100% of their claims. Class 5 is
unimpaired.

All consideration necessary to make all monetary payments in
accordance with the Sponsored Plan shall be obtained from the Cash
and cash equivalents of the Debtors or the Reorganized Debtors, as
applicable, or its subsidiaries, including the consideration in the
Plan Sponsor Agreement received from the Plan Sponsor.

All consideration necessary to make all monetary payments in
accordance with the Stand-Alone Plan shall be obtained from the
remaining Cash, and cash equivalents of the Debtors or the
Post-Effective Date Debtors, as applicable, or their subsidiaries,
and the proceeds of Post-Effective Date Debtor Assets to be
monetized through the Post-Effective Date Debtors.

Counsel to the Debtor:

     Joseph M. Barry
     Ryan M. Bartley
     Joseph M. Mulvihill
     S. Alexander Faris
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Phone: (302) 571-6600
     Fax: (302) 571-1253
     E-mail: jbarry@ycst.com
             rbartley@ycst.com
             jmulvihill@ycst.com
             afaris@ycst.com

     Lorenzo Marinuzzi
     Raff Ferraioli
     MORRISON & FOERSTER LLP
     250 West 55th Street
     New York, NY 10019-9601
     Telephone: (212) 468-8000
     Facsimile: (212) 468-7900
     E-mail: lmarinuzzi@mofo.com
             rferraiolo@mofo.com

A copy of the Disclosure Statement dated July 14, 2021, is
available at https://bit.ly/3xQ76Ms from Kccllc, the claims agent.

                       About AeroCentury Corp.

AeroCentury Corp. is engaged in the business of investing in used
regional aircraft equipment and leasing the equipment to foreign
and domestic regional air carriers.  Its principal business
objective is to acquire aircraft assets and manage those assets in
order to provide a return on investment through lease revenue and,
eventually, sale proceeds.  It is headquartered in Burlingame,
Calif.

AeroCentury Corp. and affiliates, JetFleet Holdings Corp. and
JetFleet Management Corp., sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Lead Case No. 21-10636) on March 29, 2021.

The Debtors tapped Morrison & Foerster, LLP and Young Conaway
Stargatt & Taylor, LLP as legal counsel; B Riley Securities, Inc.
as financial advisor and investment banker; and BDO USA, LLP as
auditor.  Kurtzman Carson Consultants is the claims agent and
administrative advisor.


AIWA CORP: Seeks to Employ FrankGecker as Bankruptcy Counsel
------------------------------------------------------------
Aiwa Corporation seeks approval from the U.S. Bankruptcy Court for
the Northern District of Illinois to hire FrankGecker, LLP to serve
as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) advising the Debtor with respect to its powers and duties
in the continued management and operation of its business and
property;

     (b) attending meetings and negotiating with representatives of
creditors and other parties-in-interest;

     (c) taking all necessary action to protect and preserve the
Debtor's estate, including prosecuting actions on the Debtor's
behalf, defending any action commenced against the Debtor, and
representing the Debtor's interest in negotiations concerning all
litigation in which the Debtor is involved;

     (d) investigating potential causes of action against the
receiver and other parties relating to the purported sale of the
Debtor's assets;

     (e) investigating additional avoidance actions against certain
enders and recipients of preferential or fraudulent transfers;

     (f) preparing legal papers;

     (g) representing the Debtor in connection with issues relating
to cash collateral and post-petition financing;

     (h) advising the Debtor in connection with any potential sale
of assets;
    
     (i) assisting the Debtor to draft and pursue confirmation of a
subchapter V plan;

     (j) appearing before the bankruptcy court, any appellate
court, and any other court of competent jurisdiction; and

     (k) performing all other necessary legal services.

The firm's hourly rates are as follows:

     Jeremy C. Kleinman, Esq.       $525 per hour
     Joseph D. Frank, Esq.          $895 per hour
     Karen Newbury, Esq.            $425 per hour

The Debtor paid $50,000 to the law firm as a retainer fee.

Jeremy Kleinman, Esq., at FrankGecker, disclosed in a court filing
that he is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Jeremy C. Kleinman, Esq.
     FrankGecker LLP
     1327 W. Washington Blvd., Suite 5G-H
     Chicago, IL 60607
     Tel: (312) 276-1400
     Fax: (312) 276-0035
     Email: jkleinman@fgllp.com

                       About Aiwa Corporation

Chicago-based Aiwa Corporation -- https://aiwa.co/ -- is a consumer
electronics brand that manufactures audio equipment.

Aiwa Corporation sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 21-07762) on June 22, 2021.  In the petition signed by CEO
Joseph J. Born, the Debtor disclosed total assets of $1,764,887 and
total liabilities of $5,818,251.  The case is handled by Judge
Deborah L. Thorne.  Jeremy C. Kleinman, Esq., at FrankGecker LLP,
is the Debtor's legal counsel.


ALEX AND ANI: Wins Cash Collateral Access
-----------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
authorized Alex and Ani, LLC and its debtor-affiliates to use cash
collateral on a final basis in accordance with the budget, and
provide adequate protection.

The Debtors are permitted to use cash collateral from the Petition
Date through the date which is the earliest to occur of (i) the
expiration of the Default Notice Period and (ii) the date that is
four months after the Petition Date, in each case subject to
extension with the consent of the Required First Lien Lenders.

The Debtors require immediate access to liquidity to ensure that
they are able to continue operating during these Chapter 11 cases,
preserve the value of their estates for the benefit of all parties
in interest, and pursue value-maximizing restructuring transactions
as contemplated by the Restructuring Support Agreement and Plan.

As of the Petition Date, the Debtors have approximately $127.4
million in the aggregate principal amount of outstanding funded
debt obligations, including capitalized interest, arising under (a)
the First Lien Credit Facility, (b) the Second Lien Credit
Facility, and (c) the Third Lien Credit Facility.

The Debtors entered into a Credit Agreement, dated as of January
29, 2016, by and among Alex and Ani, LLC, as borrower, A and A
Shareholding Co., LLC, as holdings, the Debtor guarantors party
thereto, Bank of America, N.A., as predecessor to Wilmington Trust,
National Association, as administrative agent, and the other
lenders party thereto. At the time of its issuance, the First Lien
Credit Agreement provided for a $175 million senior secured first
lien term loan facility and a $30 million senior secured first lien
revolving credit facility, each secured by a first priority lien on
substantially all of the assets of the Borrower and Guarantors,
subject to certain exclusions.

As of the Petition Date, there is $20.43 million of principal
outstanding under the First Lien Credit Facility and $81.80 million
of principal outstanding under the Third Lien Credit Facility, each
including capitalized interest. Both the First Lien Credit Facility
and the Third Lien Credit Facility mature on January 31, 2022.

On September 13, 2019, the Debtors entered into a Second Lien
Credit Agreement, dated as of September 13, 2019, by and among
Borrower, as borrower, A and A Shareholding Co., LLC, as holdings,
the Guarantors, as guarantors, Wilmington Trust, National
Association, as administrative agent, and the other lenders party
thereto. The Second Lien Credit Agreement provides for a $20
million term loan facility and is secured by a second priority lien
on all of the Collateral. As of the Petition Date, there is $25.20
million of principal outstanding, including capitalized interest,
under the Second Lien Credit Facility. The Second Lien Credit
Facility matures on January 31, 2022.

The cash collateral may continue to be used during the Specified
Period by the Debtors to: (i) finance their working capital needs
and for any other general corporate purposes; (ii) pay related
transaction costs, fees, liabilities, and expenses (including all
professional fees and expenses) and other administration costs
incurred in connection with and for the benefit of the Chapter 11
Cases (including the Adequate Protection Payments); and (iii) pay
any prepetition obligations authorized to be paid pursuant to any
"First Day Order" entered by the Court, in each case solely to the
extent consistent with the Budget and the Final Order.

The Debtors are directed to fund $450,000 into a segregated
account, which funds will be held by the Debtors and used solely to
satisfy obligations arising under the Debtors' real property leases
for the period of June 9, 2021 through June 30, 2021. The Stub Rent
will be paid no later than the week ending September 19 unless
otherwise agreed to prior to that date by the lease counterparties.
Upon the final reconciliation and payment of Stub Rent, any
remaining funds in the Stub Rent Account will be returned to the
Debtors.

As adequate protection for the Debtor's use of cash collateral,
each Prepetition Agent are granted additional and replacement
continuing valid, binding, enforceable, non-avoidable, and
automatically perfected postpetition security interests in and
liens on all of each the Debtor's presently owned or hereafter
acquired property and assets. The Adequate Protection Liens will be
enforceable against the Debtors, their estates, and any successors
thereto, including, without limitation, any trustee or other estate
representative appointed in the Chapter 11 Cases, or any case under
Chapter 7 of the Bankruptcy Code upon the conversion of any of the
Chapter 11 Cases, or in any other proceedings superseding or
related to any of the foregoing.

The Adequate Protection Liens will be deemed to be effective and
perfected automatically as of the Petition Date and without the
necessity of the execution by the Debtors, or the filing of, as
applicable, mortgages, security agreements, pledge agreements,
financing statements, state or federal notices, recordings
(including, without limitation, any recordings with the US Patent
and Trademark or Copyright Office), or other agreements and without
the necessity of taking possession or control of any Collateral.

Each Prepetition Agent, on behalf of itself and the applicable
Prepetition Lenders, will also be granted an allowed superpriority
administrative expense claim pursuant to sections 503(b), 507(a),
and 507(b) of the Bankruptcy Code.

A copy of the order is available at https://bit.ly/2UY5ZLW from
PacerMonitor.com.

                      About Alex and Ani LLC

Founded in 2004 by Carolyn Rafaelian, Alex and Ani --
http://www.alexandani.com/-- has become a premier jewelry brand,
quickly gaining popularity because of the novel and customizable
nature of its signature expandable wire bracelet.  Alex and Ani has
been headquartered in East Greenwich, Rhode Island since 2014.
Since opening its first retail store in Newport, Rhode Island in
2009, Alex and Ani has expanded to over 100 retail store locations
across the United States, Canada, and Puerto Rico.

Alex and Ani LLC and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 21-10918) on June 9, 2021.  In its
petition, Alex and Ani listed assets and liabilities of $100
million to $500 million each.

The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Klehr Harrison Harvey Branzburg LLP as local bankruptcy
counsel; and Portage Point Partners, LLC, as financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the notice
and claims agent.



ALTERRA MOUNTAIN: Moody's Rates New $2.2BB Loans 'B2'
-----------------------------------------------------
Moody's Investors Service assigned B2 ratings to Alterra Mountain
Company's proposed new revolver due 2024 ($450 million extended
from July 2022) and new $1,848 million term loan due 2028. Proceeds
from the new term loan will be used to repay all of the existing
term loan due 2026 ($643 million outstanding) as well as majority
of the term loan due 2024 ($1,205 million; with $500 million
remaining outstanding). Moody's will withdraw the B2 ratings on its
existing revolver and the term loan due 2026 upon the close of the
transaction.

The proposed refinancing transaction is credit positive because it
extends maturities. However, the transactions do not affect
Alterra's B2 Corporate Family Rating (CFR), B2-PD Probability of
Default Rating (PDR) and stable outlook as this is a leverage
neutral transaction. Moody's expects Alterra's debt-to-EBITDA
leverage will decline from the current level of about 11x (LTM
period ended April 30, 2021) to below 6.5x by the end of FY2022
(July 2022) with earnings recovering and some debt paydown. Moody's
expects the upcoming 2021-2022 ski season will see visitation and
other on-mountain activities largely normalize back to FY19
(pre-pandemic) level as the coronavirus pandemic subsides and
travel and capacity restraints are lifted or meaningfully eased.

Moody's took the following actions:

Issuer: Alterra Mountain Company

Assignments:

Proposed $450 million Senior Secured revolver due 2024, assigned
B2 (LGD3)

Proposed $1,848 million Senior Secured Term Loan due 2028, assigned
B2 (LGD3)

RATINGS RATIONALE

Alterra's B2 CFR reflects its elevated financial leverage. Pro
forma Moody's adjusted debt/EBITDA is about 11x for the LTM period
ended April 30, 2021, but is expected to decline to below 6.5x by
the end of FY 2022 (July 31, 2022) with earnings recovering and
some debt paydown. Moody's expects the upcoming 2021-2022 ski
season will see visitation and other on-mountain activities largely
normalize back to FY2019 (pre-pandemic) level as the coronavirus
pandemic subsides and travel and capacity restraints are lifted or
meaningfully eased. The rating also reflects that Alterra's
operating results are highly seasonal and exposed to varying
weather conditions and discretionary consumer spending. Governance
factors primarily relate to the company's aggressive acquisition
strategy with acquisitions funded mainly with incremental debt.
Environmental considerations in addition to exposure to adverse
weather include the need to access large quantities of water, which
may be challenging following periods of severe drought, and the
vast amounts of forest land the company is responsible to properly
operate and protect.

However, the rating is supported by Alterra's strong position as
one of the largest operators in the North American ski industry,
operating 15 ski resorts in the US and Canada. Alterra benefits
from its good geographic diversification, and high local skier
customer mix given its mostly regional portfolio of ski properties.
Skier demand remained strong during the pandemic due to it being an
outdoor activity. The growing penetration of the Ikon Pass provides
a stable revenue stream that helps mitigate weather exposure. The
North American ski industry has high barriers to entry and has
exhibited resiliency even during weak economic periods, including
the 2007- 2009 recession. The company's very good liquidity
reflects its material cash balance of $986 million and access to an
undrawn $450 million revolver due July 2024 (pro forma for the
transaction). Alterra also has flexibility to adjust capital
spending to preserve cash if necessary.

Moody's regards the coronavirus outbreak as a social risk under
Moody's ESG framework, given the substantial implications for
public health and safety. Moody's expects the coronavirus concern
to continue to subside over the course of 2021 as a growing share
of the public has been vaccinated.

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

The stable outlook reflects Moody's expectation that debt-to-EBITDA
leverage will decline to below 6.5x by the end of FY22 (July 2022)
with an anticipated earnings recovery and some debt paydown. The
stable outlook also reflects the company's very good liquidity over
the next year that provides flexibility to manage operations and
sustain debt service in the event coronavirus cases or other
factors weaken discretionary consumer spending and visitation.

The ratings could be upgraded if operating performance improves,
Alterra maintains solid reinvestment in its properties, Moody's
adjusted debt-to-EBITDA is sustained below 5.0x, and the company
maintains good liquidity.

Ratings could be downgraded if operating performance is weaker than
expected or fails to rebound as anticipated, or Moody's adjusted
debt-to-EBITDA is sustained above 6.5x. Additionally, should
liquidity weaken or more aggressive financial policies be employed,
ratings could also come under downward pressure.

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

Headquartered in Denver, Colorado, Alterra Mountain Company
("Alterra") is owned and controlled by an investor group comprised
of private equity firm KSL Capital Partners and a minority position
held by family office/investment firm Henry Crown & Company.
Through its subsidiaries, Alterra is one of North America's premier
mountain resort and adventure companies, operating 15 destinations
in the US and Canada. The company also owns Canadian Mountain
Holidays, a heli-skiing operator and aviation business. Alterra is
private and does not publicly disclose its financials. During the
twelve months ended April 30, 2021, the company generated revenue
of about $950 million.


ALTERRA MOUNTAIN: S&P Alters Outlook to Stable, Affirms 'B' ICR
---------------------------------------------------------------
S&P Global Ratings revised the rating outlook to stable from
negative and affirmed its 'B' issuer credit rating on Alterra
Mountain Co.

S&P said, "We also assigned our 'B' issue-level rating and '4'
recovery rating to the company's proposed first-lien term loan due
2028. Our '4' recovery rating on the loan indicates our expectation
for average (30%-50%; rounded estimate: 45%) recovery in the event
of a payment default.

"The stable outlook reflects an assumed normal 2021/2022 ski season
with limited restrictions and material debt prepayment that causes
our forecast for S&P Global Ratings-adjusted leverage to improve to
approximately 6x in fiscal 2022.

"We revised the outlook to stable and affirmed our 'B' issuer
credit rating because we believe Alterra could improve leverage to
the 6x area following a 2021/2022 ski season with limited
pandemic-related restrictions and assumed material debt repayment.
Demand for outdoor recreation remains elevated even as other forms
of entertainment reopen, and consumers have begun to travel again.
In addition, consumers have built up a significant amount of
savings that S&P Global Ratings' economists expect will drive a
robust recovery in consumer spending in the second half of 2021 and
2022. We believe that this could lead to strong season pass sales
before the 2021/2022 ski season and a recovery in Alterra's skier
visitation, revenue, and EBITDA in fiscal 2022.

"In our updated base case, we expect Alterra's resorts will be able
to reopen with limited restrictions during the 2021/2022 ski
season. As a result of continued elevated demand for outdoor
recreation, we expect skier visitation to increase in fiscal 2022,
to a level that is 5%-10% above fiscal 2019 levels. In addition, we
expect a significant recovery in ancillary services such as food
and beverage, rental, retail, and lodging in fiscal 2022 as these
segments were significantly affected by capacity restrictions
throughout the 2020/2021 ski season. We forecast total revenue
increases 35%-40% in fiscal 2022. We have assumed that EBITDA
margin expands modestly as the company benefits from operating
leverage from higher skier visitation in its resort segment and
very strong demand and increased pricing in its CMH Heli Skiing
segment, assuming the U.S.-Canada border is reopened later this
year. Somewhat offsetting these factors is the higher portion of
revenue from lower-margin ancillary services as well as a higher
volume of pass sales compared with lift ticket revenue as passes
are sold at a discount before the ski season. We expect the company
to use approximately $200 million annually for capital expenditures
through fiscal 2023. Lastly, we expect the company to use a large
portion, approximately $500 million, of its excess cash balances
following the close of the upcoming ski season to repay term loan
debt that it took on to bolster liquidity throughout the COVID-19
pandemic.

"Under these base case assumptions, we expect the company to
generate adjusted EBITDA of approximately $350 million-$375 million
in fiscals 2022 and 2023. We expect the company to maintain S&P
Global Ratings-adjusted debt to EBITDA of approximately 6x through
fiscal 2023 and EBITDA coverage of interest will be approximately
3x over the same time frame. Before any ski season, there is
typically some level of uncertainty around demand, revenue, and
EBITDA generation based on snowfall conditions, and adverse weather
conditions in one or more of Alterra's major markets could cause
EBITDA to be lower and leverage higher than our base case
forecast.

"We believe that Alterra's leverage could withstand a modest amount
of leveraging acquisition spending given its very high cash
balances and under our base case recovery assumptions. Alterra
issued approximately $650 million of incremental term loans during
2020 in order to bolster liquidity. As a result, the company's
current cash balances of just under $1 billion remain elevated
compared with historical averages. Although we expect the company
to use a significant portion of its excess cash balances to prepay
debt following the upcoming ski season, we believe that Alterra
could use some of its cash to make bolt-on acquisitions given its
highly acquisitive history. Given that we do not net cash balances
in our measure of leverage, an acquisition made using only cash on
hand would increase S&P Global Ratings-adjusted debt to EBITDA
insofar as it reduces the amount available for assumed debt
repayment. While not currently incorporated in our base case, under
a scenario analysis in which we assume that Alterra uses $250
million of cash on hand for mergers and acquisitions, we believe
that the company would have ample liquidity to prepay at least $500
million of term loan debt and manage cash balances in line with
historical levels. Under this scenario, leverage would be in the 6x
area in fiscal 2022."

Adverse weather remains a key risk for Alterra, but a shift toward
pre-sold season pass revenue is a credit positive. Due to the high
fixed-cost structure inherent in ski resorts and the company's
reliance on good snowfall, Alterra's operating performance can
fluctuate with weather conditions, which may increase its leverage.
Alterra generates approximately 80% of its revenue and more than
100% of its EBITDA during the winter months, thus having adequate
snowfall to support its attendance is critical. Somewhat offsetting
these factors is the company's ability to offset abnormally low
snowfall with an increased level of manufactured snow, its
portfolio of geographically diverse company-owned mountain resorts,
and 30 Ikon partnerships. In addition, a shift toward pre-sold
season passes, which was ongoing before 2020 but exacerbated during
the pandemic, could reduce the seasonality of its mountain resort
operations as it provides the company with pre-committed revenue in
advance of the winter season, which reduces the risk of weather
volatility.

The stable outlook on Alterra reflects an assumed normal 2021/2022
ski season with limited restrictions and material debt prepayment
that causes our measure of adjusted debt to EBITDA to improve below
our mid-7x downgrade threshold in fiscal 2022, incorporating
potential weather-related operating variability and possible
incremental leverage to complete bolt-on acquisitions.

S&P said, "We could consider revising the outlook to negative or
lowering our rating on Alterra if operating performance and debt
prepayment underperformed our base case assumptions, causing
adjusted debt to EBITDA to rise above 7.5x or if its adjusted
EBITDA coverage of interest expense fell below 1.5x on a sustained
basis. This could be the result of re-imposed capacity restrictions
driven by unanticipated spikes in COVID-19 case counts, a ski
season with below-average snowfall leading to depressed skier
visitation, or a severe economic downturn concurrent with other
leveraging events.

"We could consider raising our rating on Alterra if we believed the
company would sustain adjusted debt to EBITDA of less than 6x,
incorporating an expectation for modest amounts of leveraging
acquisitions."



ALVOGEN PHARMA: 2023 Term Loan Add-on No Impact on Moody's B2 CFR
-----------------------------------------------------------------
Moody's Investors Service commented that Alvogen Pharma US, Inc.'s
announcement that it will refinance its existing 2022 term loan via
a fungible add-on to its existing 2023 term loan is credit
positive. The transaction reduces Alvogen's near-term refinancing
risk, as approximately $125 million of debt was set to mature in
April 2022. It also avoids a springing maturity to January 2022 on
its asset-based revolver that will mature in January 2023. As a
result of the refinancing, all of Alvogen's approximately $930
million of term loan debt matures in December 2023. There is no
change to Alvogen's ratings and outlook, including the B2 Corporate
Family Rating, B3 senior secured instrument ratings, and negative
outlook.


AMC ENTERTAINMENT: Buys Two LA Theaters Closed by Pandemic
----------------------------------------------------------
Kelly Gilblom of Bloomberg News reports that AMC Entertainment
Holdings Inc., the world's largest movie-theater chain, is
acquiring two Southern California multiplexes that went out of
business because of the Covid-19 pandemic.

The cinemas, one in the Grove shopping area in Los Angeles and the
other in Glendale, were formerly part of Pacific Theatres
Exhibition Corp., the company that operated the ArcLight theater
chain.  Pacific said in June 2021 it would liquidate after
pandemic-related losses forced it into Chapter 7 bankruptcy.

AMC will take control of a long-term lease, and rebrand the two
cinemas, the company said Monday, July 19, 2021.

                    About AMC Entertainment Holdings

AMC Entertainment Holdings, Inc., is engaged in the theatrical
exhibition business. It operates through theatrical exhibition
operations segment. It licenses first-run motion pictures from
distributors owned by film production companies and from
independent distributors.  The Company also offers a range of food
and beverage items, which include popcorn; soft drinks; candy; hot
dogs; specialty drinks, including beers, wine and mixed drinks, and
made to order hot foods, including menu choices, such as curly
fries, chicken tenders and mozzarella sticks.

AMC operates over 900 theatres with 10,000 screens globally,
including over 661 theatres with 8,200 screens in the United States
and over 244 theatres with approximately 2,200 screens in Europe.
The Company's subsidiary also includes Carmike Cinemas, Inc.

AMC was forced to shutter its theaters when the Covid-19 pandemic
struck in March 2020. It has reopened its theaters but admissions
have been substantially low.

The world's biggest theater chain said in an October 2020 filing
that liquidity will be largely depleted by the end of 2020 or early
2021 if attendance doesn't pick up, and it's exploring actions that
include asset sales and joint ventures.


ARONOWITZ DELAWARE: Case Summary & 3 Unsecured Creditors
--------------------------------------------------------
Debtor: Aronowitz Delaware 2 Family Limited Partnership
          FKA Aronowitz DE Family Limited Partnership
        406 Meadows Lane
        Banner Elk, NC 28604

Business Description: The Debtor is the fee simple owner of a
                      property located at 406 Meadows Lane, Banner
                      Elk, North Carolina having a comparable
                      sale value of $1.8 million.

Chapter 11 Petition Date: July 21, 2021

Court: United States Bankruptcy Court
       Middle District of North Carolina

Case No.: 21-50464

Judge: Hon. Benjamin A. Kahn

Debtor's Counsel: Joshua H. Bennett, Esq.
                  BENNETT GUTHRIE PLLC
                  1560 Westbrook Plaza Dr
                  Winston Salem, NC 27103
                  Tel: 336-765-3121
                  Fax: 336-765-8622

Total Assets: $1,800,000

Total Liabilities: $1,140,050

The petition was signed by Jack L. Aronowitz, general partner.

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

https://www.pacermonitor.com/view/VJTQ6PY/Aronowitz_Delaware_2_Family_Limited__ncmbke-21-50464__0001.0.pdf?mcid=tGE4TAMA


ASHTON WOODS: Moody's Hikes CFR to B1 & Rates New $300MM Notes B1
-----------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating and
senior unsecured notes of Ashton Woods USA, LLC to B1 from B2 and
the Probability of Default to B1-PD from B2-PD. Concurrently,
Moody's assigned a B1 rating to Ashton Woods' proposed $300 million
senior unsecured notes due 2029. The rating outlook is stable.

The proceeds of the new notes will be used to redeem the company's
senior unsecured notes due 2025, as well as for working capital and
general corporate purposes.

The upgrade of the CFR reflects Moody's expectations of continued
improvement in credit metrics through 2023, including debt to book
capitalization trending below 50% and EBIT to interest approaching
6.0x. The stable outlook reflects Moody's expectations that Ashton
Woods will continue to grow organically within existing markets
while maintaining solid profitability above 20%. The stable outlook
also reflects maintenance of good liquidity.

The immediate impact of the transaction will result in an increase
to Ashton Woods' adjusted homebuilding debt to capitalization to
57% as of 5/31/21, from about 54%. Ashton Woods has a meaningful
backlog of sold homes of 3,395 units, and Moody's forecasts total
annual sales for fiscal 2022 of about 8,500 units, which will
result in deleveraging through earnings growth.

Upgrades:

Issuer: Ashton Woods USA, LLC

Corporate Family Rating, Upgraded to B1 from B2

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

Senior Unsecured Notes, Upgraded to B1 (LGD4) from B2 (LGD4)

Assignments:

Issuer: Ashton Woods USA, LLC

Senior Unsecured Notes, Assigned B1 (LGD4)

Outlook Actions:

Issuer: Ashton Woods USA, LLC

Outlook, Remains Stable

RATINGS RATIONALE
The B1 CFR reflects Ashton Woods' conservative land strategy and
highly developed inventory position, that helps to reduce land
impairment risk. Furthermore, the rating is supported by the
company's diversified product portfolio and mix of entry-level
homes, a category currently experiencing outsized demand. These
factors are offset by geographic concentration in the state of
Texas, which made up 43% of fiscal 2021 revenue. Finally, the
rating reflects industry cost pressures, including land, labor and
materials that could negatively impact gross margin, as well as the
cyclical nature of the homebuilding industry that could lead to
protracted revenue declines.

Despite expectation of negative free cash flow over the next 12
months as a result of increased land investment to support growth,
Moody's expects Ashton Woods to maintain good liquidity over the
same time period. In addition to over $277 million of unrestricted
cash at May 31, 2021, the company had $243 million of availability
on its $250 million senior unsecured revolver and is expected to
maintain ample cushion on its maintenance covenants.

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

The ratings could be upgraded if Ashton Woods continues to expand
its scale while improving geographic diversity. In addition, an
upgrade would require maintenance of debt to total capitalization
below 45%, EBIT interest coverage maintained above 4.5x and gross
margin sustained at or above 20%. A ratings upgrade would also
reflect maintenance of good liquidity and sustained positive free
cash flow to fund growth.

The ratings could be downgraded if debt to total capitalization
approaches 55%, EBIT interest coverage drops below 3.0x or if the
company's liquidity weakens. Also, a downgrade could result from
weakening industry conditions causing meaningful revenue and gross
margin declines.

The principal methodology used in these ratings was Homebuilding
And Property Development Industry published in January 2018.

Headquartered in Atlanta, Georgia and established in 1989, Ashton
Woods USA, LLC constructs single-family detached and attached homes
in Texas, Arizona, North Carolina, South Carolina, Georgia, and
Florida. For the 12 months ended May 31, 2021, Ashton Woods
generated approximately $2.3 billion in revenues and $234 million
in both pretax and net income (as an LLC, the company does not
recognize a provision for income taxes). The company is
majority-owned by an affiliate of the Great Gulf Group Limited of
Canada.


ASHTON WOODS: S&P Assigns 'B' Rating on $300MM Sr. Unsecured Notes
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to homebuilder Ashton Woods USA LLC's proposed $300
million senior unsecured notes due in 2029. Ashton Woods Finance
Co. will be an issuer of the notes. The company intends to use the
net proceeds from the sale of the notes offered to redeem $250
million of the outstanding principal amount of its 2025 notes and
for working capital and general corporate purposes.

S&P considers the planned transaction credit neutral. The '3'
recovery rating indicates its expectation for meaningful (50%-70%;
rounded estimate: 65%) recovery in the event of payment default.





AUGUSTA INVESTMENTS: Cash Collateral Denied as Moot
---------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
denied as moot Augusta Investments Corporation's motion to use cash
collateral after reviewing the pleadings and having considered the
position of the parties.

The Bankruptcy Court previously authorized Augusta Investments to
use cash collateral on an interim basis until the July 8 hearing.
The six months' budget provided for $39,240 in total combined
estimated revenue for April 2021, and $49,302 in total estimated
expenses for the same month.

Following the hearing on July 8, Judge Karen S. Jennemann approved
in open court the Debtor's Amended Chapter 11 Small Business
Subchapter V Plan.  A Post Confirmation Status Conference is
scheduled for August 18.

                     About Augusta Investments

Augusta Investments Corporation is a privately held company in the
traveler accommodation industry. It sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-06630)
on December 1, 2020. In the petition signed by Marco Kozlowski,
managing member, the Debtor disclosed between $1 million and $10
million in both assets and liabilities.

Judge Karen S. Jennemann oversees the case.

Aldo G. Bartolone, Jr., Esq., at BARTOLONE LAW, PLC, is the
Debtor's counsel.


AVENTURA HOTEL: Seeks to Extend Plan Exclusivity Thru Sept. 10
--------------------------------------------------------------
Aventura Hotel Properties, LLC and Triptych Miami Holdings, LLC
request the U.S. Bankruptcy Court for the Southern District of
Florida, Miami Division to extend the exclusive periods during
which the Debtor may file a plan to and including September 10,
2021, and to solicit and obtain acceptances to and including
November 10, 2021.

On June 16, 2021, the Court granted the Debtors' Motion to Approve
Settlement and Compromise with LV Midtown, LLC ("Secured
Creditor")(the "LV Settlement"). The LV Settlement resolved AHP's
potential objection to Secured Creditor's claim and obtained the
Secured Creditor's consent for an orderly liquidation or
reorganization of the Debtors' affairs.

The LV Settlement provides a timeline of key milestones for the
sale of the principal asset, a preconstruction hotel development
project, and +/-1 acre of land at 3601 N. Miami Avenue. The LV
Settlement requires the Debtor to close on the sale of the Property
by no later than September 15, 2021.

The terms of the sale of the Property will largely inform the terms
of any proposed plan that will be advanced by the Debtors in this
case. The proposed extension will permit for the sale of the
Property to take place under the terms outlined in the LV
Settlement while preserving the Debtors' ability to file and seek
confirmation of a plan in connection with the sale of the
Property.

Also, the proposed extension is without prejudice to any right to
terminate exclusivity afforded the Secured Creditor under the LV
Settlement.

The Debtors submit that sufficient "cause" exists to extend the
Exclusivity Period to file a disclosure statement and plan.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3zd7y7M from PacerMonitor.com.

                        About Aventura Hotel Properties

Aventura Hotel Properties, LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-12374) on
March 12, 2021.  Francisco Arocha, the manager, signed the
petition. In the petition, the Debtor disclosed assets of between
$10 million and $50 million and liabilities of the same range.

Judge Jay A. Cristol oversees the case. Genovese Joblove &
Battista, P.A. is the Debtor's legal counsel and Avison
Young-Florida as real estate broker.


BARENZ INVESTMENTS: Wins Cash Collateral Access Thru Oct. 12
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division, has authorized Barenz Investments, LLC to use cash
collateral on an interim basis in accordance with the budget, with
a 10% variance through October 12, 2021.

The Debtor is authorized to pay amounts expressly approved by the
Court; current and necessary expenses according to the budget; and
additional amounts that may be expressly approved in writing by its
secured creditor, American Capital Group, LLC.

ACG consents to the $3,000 per month line item for "Owner draws"
(on a cumulative basis for both owner representatives) for the
length of the cash collateral order conditioned that the Debtor
will pay this line item last and only if all other budgeted and
actual expenses are paid on a monthly basis.

The Court says ACG will have perfected post-petition liens against
the cash collateral to the same extent and with the same validity
and priority as the prepetition lien, without the need to file or
execute any documents as may otherwise be required under applicable
nonbankruptcy law.

The Debtor will maintain insurance coverage for its property in
accordance with their obligations as debtor-in-possession.

A continued hearing on the matter is scheduled for October 12 at
1:30 p.m. via Zoom.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3eFiEdO from PacerMonitor.com.

The Debtor projects $25,000 in total revenue and $12,017 in total
expenses for July.

                  About Barenz Investments, LLC

Barenz Investments, LLC operates a boutique beach guest house and a
hotel.  The company filed a Chapter 11 petition (Bankr. M.D. Fla.
Case No. 21-02682) on May 24, 2021.

On the Petition Date, the Debtor reported $3,009,800 in total
assets and $1,427,953 in total liabilities.  The petition was
signed by David Alan Barenz, manager.

Debt Relief Legal Group, LLC represents the Debtor as counsel.



BHATT CORP: Wins Cash Collateral Access Thru July 31
----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Alabama has
authorized Bhatt Corp. to use cash collateral to pay operating
expenses, adequate protection payments, and administrative payments
on an interim basis through July 31, 2021.

The Bank of the Ozarks asserts claims against the Debtor and the
cash collateral in excess of $103,000. The Secured Creditor has
filed a lien with the Secretary of State of Alabama and claims in
excess of $491,000. The exact priority and amount of each of these
alleged Secured Creditor's claims are subject to later
determination upon the filing of a proper perfected Proof of Claim
by each of the Secured Creditors or deemed filed under 11 U.S.C.
Section 1111(a) or filing by the Debtor or a Trustee under Rule
3004 of the Federal Rules of Bankruptcy Procedure.

The Debtor is authorized to use cash collateral up to the aggregate
amount of $85,000 per month for operating expenses and in any
amounts approved by the Court as adequate protection payments and
administrative expenses in accordance with the budget of estimated
future income and necessary operating expenses to pay:

     a. the maintenance and preservation of its assets;

     b. continue operation of its business, including payroll,
employee expenses, and insurance expenses;

     c. pay the administrative expenses not to exceed $25,000 at
any one time, provided the Court, upon proper notice, approve such
expenses provided that there are no unencumbered assets from which
said administrative expenses of the Bankruptcy Case can be paid;

     d. payment of the Adequate Protection Payments as approved by
the Court; and

     e. quarterly fees due to the Bankruptcy Clerk's Office.

As adequate protection for the Debtor's use of the cash collateral,
the Secured Creditor, to the extent its liens and interest appear,
is granted replacement perfected security interests and liens under
Bankruptcy Code section 361(2) and to the extent and with the same
priority in Debtor's post-petition collateral and proceeds thereof,
that the Secured Creditor held in the Debtor's pre-petition
collateral.

The Debtor will maintain appropriate insurance coverage on the
Secured Creditor's collateral with the same coverage amount that
existed prior to the Petition Date and naming the Secured Creditor
as an additional insured.

As additional adequate protection, the Debtor will make payments of
$550 to the Secured Creditor each month.

A final hearing on the matter is scheduled for July 29 at 1:30 pm.

                      About Bhatt Corporation

Bhatt Corporation sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ala. Case No. 21-40661) on July 2,
2021. In the petition signed by Kamalnayan Bhatt, president, the
Debtor disclosed $1 million in both assets and liabilities.

Judge James J. Robinson oversees the case.

Harry P. Long, Esq., at The Law Offices of Harry P. Long, LLC is
the Debtor's counsel.

Bank of the Ozarks, as secured creditor, is represented by Rita L.
Hullett, Esq., at Baker, Donelson, Bearman, Caldwell & Berkowitz,
P.C.



BLUBELLE LLC: Disclosures OK'd, August 25 Confirmation Hearing Set
------------------------------------------------------------------
Judge August B. Landis approved the Disclosure Statement of
Blubelle LLC as containing adequate information.  

The Court fixed the deadline for submission of ballots no later
than August 9, 2021, at 5 p.m. (PST).  The deadline for filing and
serving objections to the adequacy of the Disclosure Statement
and/or confirmation of the Plan is also August 9.

The brief in support to confirmation of the Plan, and reply to any
Plan confirmation objections must be filed and served no later than
August 16, 2021.  

The Plan confirmation hearing will be held on August 25, 2021, at
1:30 p.m. (PST).

A copy of the order is available for free at https://bit.ly/2W2Eh19
from PacerMonitor.com.

Counsel for the Debtor:

   Ryan A. Andersen, Esq.
   Valerie Y. Zaidenberg, Esq.
   Andersen Law Firm, Ltd.
   3199 E Warm Springs Rd., Ste. 400
   Las Vegas, NV 89120
   Telephone: 702-522-1992
   Facsimile: 702-825-2824
   Email: ryan@vegaslawfirm.legal
          valerie@vegaslawfirm.legal

                        About Blubelle LLC

Blubelle LLC is a holding company for several single-family homes
that it acquired at HOA lien foreclosure sales.

The Debtor filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. Case No. D. Nev. Case No. 20-11225) on
March 3, 2020, listing $500,001 to $1 million in assets and
$100,001 to $500,000 in liabilities.  Ryan A. Andersen, Esq. at
Andersen Law Firm serves the Debtor as counsel.  Judge August B.
Landis oversees the case.


BOSTON SOLUTIONS: Wins Cash Collateral Access Thru Jul 30
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana,
Indianapolis Division, has authorized Boston Solutions, Inc. and
Chef JJ's Downtown LLC to use cash collateral on an interim basis
through July 30, 2021, in accordance with the budget, with a 15%
variance.

The Court says these forms of adequate protection will be provided
to First Merchants Bank:

a. Chef JJ's will guaranty Boston Solutions' obligations to FMB;

b. Boston Solutions will maintain its depository account XX1445
with FMB and will continue to make its regular and customary
business banking deposits into said account;

c. Chef JJ's will maintain its depository account XX5620 with FMB
and will continue to make its regular and customary business
banking deposits into said account;

d. Boston Solutions will use the proceeds of the second PPP loan in
accordance with the proposed Budget and the SBA's requirements for
PPP loan forgiveness;

e. Boston Solutions will make any loan payments to FMB as required
by the Promissory Note dated February 26, 2021 executed by Boston
Solutions in favor of First Merchants in the amount of $ 101,517.50
evidencing the second PPP loan;

f. Beginning July 16, 2021, Boston Solutions and Chef JJ's will
report their expenditures to FMB on a bi-weekly basis to show their
compliance with their proposed Budget and the terms of the Interim
Order. The report will show the total cash collateral as of the
petition date and the total value of the Debtors' property subject
to the Adequate Protection Liens as of the date of each report;

g. Boston Solutions will promptly apply to the SBA tor forgiveness
of the second PPP Loan once the conditions for forgiveness have
been satisfied; and

h. Pursuant to Sections 361 and 363(e) of the Bankruptcy Code, FMB
is granted first and prior liens in the Cash Collateral and in the
post-petition accounts, deposit accounts, inventory, cash, cash
proceeds, and payment intangibles of the Debtors, retroactive to
the Petition Date. Subject to the other provisions of the Interim
Order, the Adequate Protection Liens will be valid and fully
perfected without any further action by any party and without the
execution or the recordation of any control agreements, financing
statements, security agreements or other documents.

To allow for the Debtors' use of cash, FMB will release the
administrative hold on Boston Solutions' deposit account.  In the
event that there is any default in the terms of the Interim Order,
then FMB is authorized to institute administrative holds on
Debtors' deposit accounts without notice or further order of the
Court. Such action by FMB will not constitute a violation of the
automatic stay.

A final hearing on the matter is scheduled for August 16 at 9 am.

A copy of the order and the Debtor's budget is available at
https://bit.ly/2V48vQH from PacerMonitor.com.

The Debtor projects $4,200 in total cash sales and $29,098 in total
cash out flows for the week beginning July 26.

                    About Boston Solutions Inc.

Boston Solutions Inc. sought protection under Chapter 11 of the U.S
Bankruptcy Code (Bankr. S.D. Ind. Case No. 21-03158) on July 8,
2021. In the petition signed by Jeremy J. Boston, president, the
Debtor disclosed up to $500,000 in both assets and liabilities.

Judge Robyn L. Moberly oversees the case.

Morgan A. Decker at Rubin and Levin PC is the Debtor's counsel.



BOUCHARD TRANSPORTATION: JMB Wins Bankruptcy Auction
----------------------------------------------------
Alex Wolf of Bloomberg Law reports that JMB Capital Partners
Lending LLC won a bankruptcy auction with a bid of $115 million for
the bulk of barge operator Bouchard Transportation Co.'s assets,
beating an opening bid from Hartree Partners LP, an attorney for
JMB said.

Hartree's $110 million stalking horse offer -- setting a floor
price for a large swath of Bouchard's barges and tug boats -- was
bested during an auction Monday, July 19, 2021, afternoon, JMB
attorney Robert Hirsh of Lowenstein Sandler LLP confirmed to
Bloomberg Law on Tuesday, July 20, 2021.

Hartree, an affiliate of Oaktree Capital Management LP, is entitled
to a $3.3 million break-up fee, according to papers filed July 18,
2021.

                 About Bouchard Transportation

Founded in 1918, Bouchard Transportation Co., Inc.'s first cargo
was a shipment of coal. By 1931, Bouchard acquired its first oil
barge. Over the past 100 years and five generations later, Bouchard
has expanded its fleet, which now consists of 25 barges and 26 tugs
of various sizes, capacities and capabilities, with services
operating in the United States, Canada and the Caribbean.

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

Judge David R. Jones oversees the cases.

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

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' cases. The committee tapped
Ropes & Gray LLP as bankruptcy counsel, Clyde & Co US LLP as
maritime counsel, and Berkeley Research Group LLC as financial
advisor.


BOY SCOUTS OF AMERICA: Continues Mediation Hoping to Broaden Ch.11
------------------------------------------------------------------
Law360 reports that attorneys for the Boy Scouts of America told a
Delaware bankruptcy judge Wednesday that the organization was
continuing with negotiations and mediation effort among sexual
abuse survivors claimants and its local scouting organizations in
hopes of reaching a global settlement.

During a virtual hearing, debtor attorney Jessica Lauria of White &
Case LLP said that the $850 million deal reached with the tort
claimants committee, the future claims representative, a coalition
of abuse survivors and local scouting councils was a significant
milestone in the cases, but that additional consensus is still
desired.

                   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.



BRAD RAGAN RECYCLING: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------------
The U.S. Trustee for Region 8 on July 21 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Brad Ragan Recycling, Inc.

                    About Brad Ragan Recycling

Brad Ragan Recycling Inc., a Glasgow, Ky.-based manufacturer of
rubber products, filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ky. Case No.
21-10305) on May 1, 2021.  Brad Ragan, the majority owner and
president, signed the petition.  At the time of the filing, the
Debtor disclosed total assets of up to $1 million and total
liabilities of up to 10 million.  Judge Joan A. Lloyd oversees the
case.  Darren K. Mexic, Esq. serves as the Debtor's legal counsel.


BUILDERS FIRSTSOURCE: Moody's Rates Proposed Sr. Unsec. Notes 'Ba3'
-------------------------------------------------------------------
Moody's Investors Service affirmed Builders FirstSource, Inc.'s
(BLDR) Ba2 Corporate Family Rating Ba2-PD Probability of Default
Rating, and Ba2 rating on BLDR's senior secured notes. Moody's also
upgraded the company's senior unsecured notes to Ba3 from B1 and
assigned a Ba3 rating to BLDR's proposed senior unsecured notes.
The new unsecured notes will have similar terms and conditions as
the existing senior unsecured notes. The outlook is changed to
positive from stable. The company's speculative grade liquidity
rating remains SGL-1.

Moody's views the proposed notes transaction as credit positive
since liquidity is improving even though balance sheet debt is
increasing. Proceeds from the proposed senior unsecured notes will
be used to term out borrowings under BLDR's $1.4 billion asset
based revolving credit facility. The remaining proceeds will add to
the company's cash balance, which will likely be used to finance
future acquisitions, such as the purchase of WTS Paradigm, LLC
announced on June 28, and to pay related fees and expenses. Moody's
expects that BLDR will benefit from the good growth dynamics over
the next two years for the US homebuilding sector, the main driver
of BLDR's revenue, offsetting the increase in debt.

The positive outlook reflects Moody's expectation that BLDR will
uphold conservative financial policies, including maintaining low
leverage, reinvesting in the business with additional capital
expenditures and avoiding transformative acquisitions. Very good
liquidity, strength in the homebuilding sector, and ongoing
integration of acquisitions without impacting operations further
support the positive outlook. The company has demonstrated strong
results thus far since the merger with BMC Stock Holdings, Inc.
(BMC) on January 1, 2021, and the ability to continue to
demonstrate success in the integration of BMC and integrate other
acquisitions could support positive rating momentum.

The upgrade of the rating on BLDR's existing senior unsecured notes
to Ba3 from B1 is due to the increase in the proportion of
unsecured debt in BLDR's capital structure relative to secured
debt, resulting in improved recovery for the unsecured debt
holders.

The following ratings are affected by the action:

Assignments:

Issuer: Builders FirstSource, Inc.

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

Upgrades:

Issuer: Builders FirstSource, Inc.

Senior Unsecured Notes, Upgraded to Ba3 (LGD5) from B1 (LGD5)

Affirmations:

Issuer: Builders FirstSource, Inc.

Corporate Family Rating, Affirmed Ba2

Probability of Default Rating, Affirmed Ba2-PD

Senior Secured Regular Bond/Debenture, Affirmed Ba2 (LGD3) from
(LGD4)

Outlook Actions:

Issuer: Builders FirstSource, Inc.

Outlook, Changed To Positive From Stable

RATINGS RATIONALE

BLDR's Ba2 CFR reflects Moody's expectation that the company will
benefit from strong conditions in the US homebuilding sector (both
single family and multi-family), which accounts for about 84% of
the company's revenue (based on Q1 2021 results). Moody's forecasts
revenue of about $18.8 billion by late 2022 and good operating
performance with adjusted EBITDA margin above 10.5% through 2022
versus 9.6% for LTM Q1 2021. Moody's also projects that BLDR will
maintain solid credit metrics, with adjusted debt-to-LTM EBITDA
remaining below 1.75x over the next two years (2.0x at Q1 2021) and
adjusted free cash flow-to-debt sustained above 7.5% through 2022
(negative 2.3% at Q1 2021).

Although Moody's anticipates good growth over the next two years
for the US homebuilding sector, this end market is very volatile
and poses a meaningful credit risk. BLDR's product mix is reliant
on commodity-like products and faces strong competition, making
significant margin expansion beyond Moody's projections difficult
to achieve. Also, BLDR may face challenges integrating new
acquisitions as the company continues to combine with BMC.

BLDR's SGL-1 Speculative Grade Liquidity Rating reflects Moody's
expectation that BLDR will generate robust free cash flow slightly
above $1.0 billion in 2022. Ample revolver availability and no
near-term maturities further contribute to BLDR's very good
liquidity.

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

Factors that could lead to an upgrade:

- Debt-to-LTM EBITDA is sustained below 2.0x

- Preservation of very good liquidity

- Maintain conservative financial policies

- Successful integration of BMC and future acquisitions

Factors that could lead to a downgrade:

- Debt-to-LTM EBITDA is sustained above 3.5x

- The company's liquidity profile deteriorates

- Aggressive acquisition or share repurchase initiatives

Builders FirstSource, Inc., headquartered in Dallas, Texas, is the
largest national distributor of lumber, trusses, millwork, and
other building products and a provider of construction services.

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.


BUILDERS FIRSTSOURCE: S&P Upgrades ICR to 'BB' on BMC Merger
------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Builders
FirstSource Inc. (BFS) to 'BB' from 'BB-'. Concurrently, S&P raised
its rating on the company's senior secured notes to 'BBB-' from
'BB+' and senior unsecured notes to 'BB-' from 'B+'.

At the same time, S&P assigned its 'BB-' issue-level rating to the
company's proposed $800 million senior unsecured notes due in 2032.
The proceeds will be used to repay asset-based lending (ABL)
borrowings and fund acquisitions.

The stable outlook reflects S&P's expectation that strong
end-market demand and earnings will offset increased debt and
acquisition spending.

The all-stock merger between Builders FirstSource and BMC Stock
Holdings Inc. has resulted in one of the largest U.S.-based
building materials distributor serving homebuilders, with expected
annual revenues of $14 billion-$15 billion.

BFS' strong earnings and cash generation are underpinned by robust
residential construction demand. S&P said, "We expect BFS to
generate adjusted EBITDA of $1.2 billion-$1.3 billion over 2021. We
believe strong demand for new homes will continue for at least the
next 12 months, based on our expectations of 1.5 million-1.6
million housing starts over 2021-2022. This will drive solid sales
growth, further helped by strong demand from repair and remodeling
end markets. We also believe BFS is well-positioned to manage cost
inflation as well as materials and labor shortages. While there may
be some temporary margin compression due to commodity inflation, we
expect EBITDA margins to be 8%-9% over 2021-2022. We expect solid
cash flow generation of $600 million-$800 million despite increased
working capital investments. Better than expected progress on
completing its integration with BMC and achieving expected
synergistic benefits could be an upside to our earnings
expectation."

Despite BFS' increased scale, the overall building materials
distribution industry remains fragmented, and the company's
earnings volatility will remain high due to its strong correlation
with cyclical residential end markets. S&P said, "We expect revenue
of $14 billion-$15 billion in 2021. BFS is one of the largest
material distributors catering to homebuilders across the U.S.,
with a product portfolio spanning building materials and products.
However, the presence of many smaller players serving local and
regional markets make the overall industry highly fragmented. BFS'
overall business strength is somewhat limited by the high
correlation of earnings to cyclical new construction end markets
and a geographic footprint exclusively in the U.S. We believe this
makes the company more susceptible to housing cycles and economic
downturns than other larger, more diversified distributors such as
Ferguson PLC and Adolf Wuerth GmbH & Co. KG."

S&P said, "We believe BFS has the financial flexibility to pursue
growth opportunities and shareholder remuneration, without
jeopardizing its leverage tolerance of 2x-3x. We expect the company
to balance use of free cash flows for acquisitions and shareholder
distributions, remaining within 2x-3x adjusted leverage. Growth via
acquisitions is an important part of BFS' overall growth strategy,
and we believe the company will continue to undertake tuck-in
acquisitions. We expect most of these to be funded by internal cash
generation and ABL borrowings. Since the beginning of 2021, the
company has completed three small to midsize acquisitions,
including software solutions provider WTS Paradigm, resulting in
total acquisition spending of about $900 million. However, if BFS
adopted an aggressive financial policy, such as pursuing large
debt-financed acquisitions and/or shareholder distributions, it
could weaken credit measures and pose downside risk.

"The stable outlook on BFS indicates our belief that adjusted
leverage will be 2x-3x and adjusted operating cash flow to debt
25%-35% for the next 12 months. We expect it to maintain these
credit measures backed by strong earnings and cash flows,
offsetting increased debt load and acquisition spending."

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

-- Adjusted EBITDA declined more than 20%, such that adjusted
leverage rose above 3x or operating cash flow to debt fell below
25%, with little prospect of a rapid recovery. This could occur in
a severe downturn, sharply contracting residential construction
activity and demand for BFS' products or weakening margins over 2%;
or

-- The company undertook an aggressive financial policy such as
pursing large debt-financed acquisitions or shareholder-friendly
actions, resulting in adjusted leverage above 3x.

S&P views an upgrade as unlikely over the next 12 months. However,
S&P could raise the rating if:

-- BFS maintained adjusted leverage well under 2x and operating
cash flows to debt above 35%; and

-- Its business continued to expand.



CARBONLITE HOLDINGS: Court Okays Liquidation Plan for Creditor Vote
-------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that bankrupt recycler
CarbonLite won court approval to solicit creditor votes on a
liquidation plan after asset sales failed to generate enough
proceeds to repay its creditors.

The company, which formerly operated as CarbonLite Holdings LLC,
owes some $46.5 million to lender Orion Energy Partners LP, and an
estimated $140 million to its general unsecured creditors.

The company hopes Orion, which already has received proceeds from
asset sales, will vote in favor of the plan, CarbonLite’s
attorney, Maxim Litvak of Pachulski Stang Ziehl & Jones LLP, told
the U.S. Bankruptcy Court for the District of Delaware Wednesday,
July 21, 2021.

                     About CarbonLite Holdings

Los Angeles-based CarbonLite Holdings, LLC processes post-consumer
recycled polyethylene terephthalate (rPET) plastic products and
produces rPET and polyethylene terephthalate (PET) beverage and
food packaging products through its two business segments, the
Recycling Business and PinnPack.

CarbonLite Holdings and 10 affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 21-10527) on March 8, 2021.
CarbonLite P, LLC, an affiliate, disclosed assets of $100 million
to $500 million and debt of $50 million to $100 million.

Judge John T. Dorsey oversees the cases.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP as bankruptcy
counsel, Reed Smith LLP as corporate counsel, and Jefferies LLC as
investment banker.  Stretto is the claims agent.

On March 23, 2021, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors in the Debtors' Chapter
11 cases.  Hogan Lovells US, LLP and Blank Rome, LLP serve as the
committee's legal counsel.  Province, LLC, is the financial
advisor.

Elise S. Frejka is the fee examiner appointed in the Debtors'
cases.  She is represented by Frejka, PLLC.


CARNIVAL CORP: S&P Rates New $2.41BB Senior Secured Notes 'BB-'
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating to
Carnival Corp.'s proposed $2.41 billion first-priority senior
secured notes due 2028. The recovery rating is '1', indicating the
expectation for very high (90%-100%; rounded estimate 95%) recovery
for lenders in the event of a default. Carnival plans to use
proceeds from the notes issuance and cash on the balance sheet to
repurchase 50.1% of its existing $4 billion first-priority senior
secured notes due 2023 through a tender offer, and to pay tender
premiums, accrued interest, and fees and expenses. Since the
transaction is largely debt for debt, it does not impact the rating
or outlook on Carnival. S&P expects the transaction will reduce
Carnival's interest burden because S&P believes the interest rate
on the proposed secured notes will likely be significantly lower
than the 11.5% rate on the secured notes it is repurchasing. The
transaction will also modestly improve the company's maturity
profile.

At the same time, S&P lowered the issue-level ratings on Carnival's
2026 unsecured notes and 2027 unsecured notes to 'B' from 'B+', and
revised the recovery rating on those notes to '4' from '2'. The '4'
recovery rating indicates the expectation for average (30% to 50%;
rounded estimate 45%) recovery for noteholders in a payment
default.

The lower issue-level and recovery ratings on Carnival's unsecured
debt with subsidiary guarantees reflects a significantly higher
amount of unsecured debt with subsidiary guarantees assumed at
default compared to the previous analysis. This is because Carnival
and the export credit agencies have agreed in principle to provide
the export credit facilities ($7.3 billion outstanding as of Nov.
30, 2020) the same subsidiary guarantees as the company's 2026 and
2027 unsecured notes, its convertible notes, its multi-currency
revolver (consisting of $1.7 billion, EUR1 billion, and GBP150
million in commitments), and its bilateral bank loans totaling $2.6
billion. We assume Carnival will execute these supplemental
agreements with the export credit agencies in the next several
weeks.

Recovery Analysis

Key analytical factors:

-- S&P assigned its 'BB-' issue-level rating to Carnival's
proposed first-priority senior secured notes due 2028. The recovery
rating is '1', indicating its expectation for very high (90%-100%;
rounded estimate 95%) recovery for lenders in the event of a
default.

-- S&P lowered its issue-level rating on Carnival's 2026 and 2027
unsecured notes to 'B' from 'B+'. S&P revised the recovery rating
on both notes issuances to '4', indicating its expectation for
average (30% to 50%; rounded estimate 45%) recovery for noteholders
in a payment default.

-- All other issue-level ratings are unchanged.

Simulated default assumptions:

-- S&P's simulated default scenario contemplates a default
occurring by 2024 due to a significant decline in cash flow from
permanently impaired demand for cruises following the negative
publicity and travel advisories during the COVID-19 pandemic, a
prolonged economic downturn, and/or increased competitive
pressures.

-- S&P includes in its assumption of unsecured claims that benefit
from subsidiary guarantees new ship debt that S&P expects Carnival
to incur before the year of default.

-- S&P estimates gross enterprise value at emergence of around $24
billion by applying a 7x multiple to our estimate of EBITDA at
emergence. S&P uses a multiple that is at the high-end of its range
for leisure companies to reflect Carnival's good position in the
cruise industry, which is a small but underpenetrated segment of
the overall travel and vacation industry.

-- S&P allocates its estimate of gross enterprise value at
emergence among secured and unsecured claims based on its
understanding of the contribution, by asset value, of the parent
and subsidiary guarantors.

-- S&P assumes that of its estimated gross enterprise value at
emergence, about 71% is available to cover first and second
priority secured claims, around 16% is available to cover unsecured
claims that benefit from subsidiary guarantees, and around 13% is
available to cover unsecured claims that only benefit from parent
guarantees.

-- S&P said, "Under our analysis, and after subtracting
administrative expenses from our estimate of gross enterprise
value, around $15.8 billion of enterprise value would be available
to cover secured claims. After satisfying first- and
second-priority secured claims, any remaining value, which we
estimate to be $6 billion, is then allocated among claims that
benefit from subsidiary guarantees, and those that only benefit
from parent guarantees. This is because it is our understanding
that a material portion of the collateral sits at the subsidiary
guarantors."

-- S&P said, "Under our analysis, we attribute $3.7 billion of the
residual value, after satisfying first- and second-priority claims,
to unsecured debt that benefits from subsidiary guarantees. This
debt also benefits from the enterprise value, around $3.5 billion,
that is not pledged as collateral and that we attribute to the
unsecured debt that has subsidiary guarantees. The total value,
around $7.2 billion, only partially covers our estimate of
unsecured debt with subsidiary guarantees at default. We assume
these deficiency claims are pari passu with the unsecured debt that
has only parent guarantees."

-- S&P said, "Under our analysis, we attribute around $2.3 billion
of the residual value, after satisfying first- and second-priority
secured claims, and around $2.8 billion in enterprise value that we
attribute to the unsecured debt that has only parent guarantees.
The total value, around $5.1 billion, only partially covers our
estimate of those unsecured claims and pari passu deficiency claims
at default."

S&P assumes Carnival's revolvers are 100% drawn at default.

Simplified waterfall:

-- Emergence EBITDA: $3.4 billion

-- EBITDA multiple: 7x

-- Gross enterprise value: $23.8 billion

-- Net enterprise value available after administrative expenses
(7%): $22.1 billion

-- Value attributable to secured/unsecured claims: $15.8
billion/$6.4 billion

-- Value available to first-lien secured claims: $15.8 billion

-- Estimated first-lien secured claims at default: $7.6 billion

    --Recovery range: 90% to 100% (rounded estimate: 95%)

-- Value available to second lien secured claims: $8.2 billion

-- Estimated second lien secured claims at default: $2.3 billion

    --Recovery range: 90% to 100% (rounded estimate: 95%)

-- Value available (including some residual value after satisfying
secured first and second lien claims) to unsecured claims that
benefit from subsidiary guarantees (the export credit facilities,
the 2026 and 2027 notes, the 2023 convertible notes, the revolver,
and bi-lateral bank facilities): $7.2 billion

-- Pro rata share of parent value: $4.6 billion

-- Total value available to unsecured claims that benefit from
subsidiary guarantees: $11.8 billion

-- Estimated unsecured claims that benefit from subsidiary
guarantees at default: $24.2 billion

    --Recovery range: 30% to 50% (rounded estimate: 45%)

-- Value available to unsecured debt with only parent guarantees:
$0.5 billion

-- Unsecured claims with only parent guarantees at default: $1.7
billion

    --Recovery range: 10% to 30% (rounded estimate: 25%)

Note: All debt amounts include six months of prepetition interest.



CCMW LLC: Bankruptcy Administrator to Form Creditors' Committee
---------------------------------------------------------------
William Miller, U.S. bankruptcy administrator, on July 21 filed
with the U.S. Bankruptcy Court for the Middle District of North
Carolina a notice of opportunity to serve on the official committee
of unsecured creditors in CCMW, LLC's Chapter 11 case.

Unsecured creditors willing to serve on the committee are required
to file a response by the end of month.

An organizational meeting will be scheduled after the committee is
appointed, according to the filing.

Mr. Miller can be reached through:

     Susan O. Gattis
     Bankruptcy Analyst
     101 S. Edgeworth Street
     Greensboro, NC 27401
     Fax: 336-291-9913
     Email: susan_gattis@ncmba.uscourts.gov

                          About CCMW LLC

Greensboro, N.C.-based CCMW, LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. M.D. N.C. Case No. 21-10395) on July
20, 2021.  At the time of the filing, the Debtor had $1 million to
$10 million in both assets and liabilities.  Judge Benjamin A. Kahn
oversees the case.  Ivey, McClellan, Siegmund, Brumbaugh &
McDonough, LLP serves as the Debtor's legal counsel.


CHESTER J. MARINE: Cain & Skarnulis Represents Standridge Claimants
-------------------------------------------------------------------
In the Chapter 11 cases of Chester J. Marine, LLC, the law firm of
Cain & Skarnulis PLLC submitted a verified statement under Rule
2019 of the Federal Rules of Bankruptcy Procedure, to disclose that
it is representing the Standridge Claimants.

As of July 16, 2021, each parties and their disclosable economic
interests are:

Charlotte Standridge, individually

* Nature of Claim: Wrongful death claimant
* Principal Amount of Claim: Unliquidated. Claims pending against
                             Debtor in Standridge, el al. v. Yazoo
                             River Towing, Inc., et al., No.
                             79717, Division A, 18th District
                             Court of Parish of Iberville, State
                             of Louisiana.

Charlotte Standridge, as representative of
the Estate of Lloyd Standridge

* Nature of Claim: Maritime tort claimant with in personam claims
                   against Chester J. Marine, LLC under the Jones
                   Act and general maritime law and in rem claims
                   against the ITV MELVIN L. KING.
* Principal Amount of Claim: Unliquidated. Claims pending against
                             Debtor in Standridge, el al. v. Yazoo
                             River Towing, Inc., et al., No.
                             79717, Division A, 18th District
                             Court of Parish of Iberville, State
                             of Louisiana.

Ashley Standridge

* Nature of Claim: Wrongful death claimant
* Principal Amount of Claim: Unliquidated. Claims pending against
                             Debtor in Standridge, el al. v. Yazoo
                             River Towing, Inc., et al., No.
                             79717, Division A, 18th District
                             Court of Parish of Iberville, State
                             of Louisiana.

Aaron Standridge

* Nature of Claim: Wrongful death claimant
* Principal Amount of Claim: Unliquidated. Claims pending against
                             Debtor in Standridge, el al. v. Yazoo
                             River Towing, Inc., et al., No.
                             79717, Division A, 18th District
                             Court of Parish of Iberville, State
                             of Louisiana.

Each of the parties listed on Exhibit A has consented to this
multiple representation by Cain & Skarnulis PLLC and Arnold & Itkin
LLP in the above-captioned matter.

Counsel for Charlotte Standridge, individually and as a
representative for the estate of Lloyd Standridge, Ashley
Standridge, and Aaron Standridge can be reached at:

           Ryan E. Chapple, Esq.
           CAIN & SKARNULIS PLLC
           400 W. 15th Street, Suite 900
           Austin, TX 78701
           Telephone: 512-477-5000
           Facsimile: 512-477-5011
           Email: rchapple@cstrial.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://bit.ly/3y8mnZb

                    About Chester J Marine

Chester J. Marine, LLC, a provider of inland water freight
transportation services, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. La. Case No. 20-11002) on June 4,
2020.  At the time of the filing, Debtor disclosed $1,004,125 in
assets and $361,889 in liabilities.  Judge Meredith S. Grabill
oversees the case.  Debtor has tapped Robert L. Marrero, LLC as its
legal counsel.


CITY WIDE COMMUNITY: Seeks to Hire Hilco as Real Estate Agent
-------------------------------------------------------------
City-Wide Community Development Corp. and its affiliates seek
approval from the U.S. Bankruptcy Court for the Northern District
of Texas to hire Hilco Real Estate, LLC as their real estate
agent.

The firm's services include:

     a. developing a sales strategy in consultation with the
Debtors, whereby Catalyst Urban Lancaster Development, LLC, acts as
a stalking horse buyer for the Debtors' real property;

     b. soliciting interested parties for the sale of the property
and marketing the property through a managed qualifying bid process
in an attempt to obtain higher and better offers; and

     c. conducting sale negotiations at the Debtors' direction.

The firm will be paid as follows:

  -- In the event the property is sold to Catalyst in an amount
equal to Catalyst's initial bid amount as provided in the stalking
horse agreement, which is $19 million, Hilco shall earn a fee equal
to 1 percent of the gross sale proceeds.  In the event Catalyst is
the winning bidder and increases its bid amount as a result of the
managed bid process conducted by Hilco, the firm shall earn a fee
equal to the stalking horse base fee, plus an additional 3 percent
of the incremental increase in gross sale proceeds paid by
Catalyst.

  -- In the event the property is sold to a party that is not
Catalyst, Hilco shall earn a fee equal to the stalking horse base
fee, plus an additional 3 percent of the incremental increase in
gross sale proceeds paid by the new purchaser relative to the
original stalking horse purchase price.

The Debtor will reimburse Hilco up to $15,000 for work-related
expenses incurred.

Hilco is a disinterested person as defined under Section 101(13)
and Rule 2014 of the Bankruptcy Code as disclosed in court
filings.

The firm can be reached through:

     Sarah Baker
     Hilco Real Estate, LLC
     5 Revere Drive, Suite 320
     Northbrook, IL 60062
     Tel. (847) 418-2703
     Fax (847) 897-0826

            About City-Wide Community Development Corp.

City-Wide Community Development Corp. and its affiliates are
primarily engaged in renting and leasing real estate properties.

City-Wide Community Development Corp. and affiliates Lancaster
Urban Village Residential, LLC and Lancaster Urban Village
Commercial, LLC, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 21-30847) on April
30, 2021.  In the petitions signed by Sherman Roberts, president
and chief executive officer, the Debtors disclosed $12,026,657 in
assets and $10,332,946 in liabilities.  

Judge Michelle V. Larson oversees the cases.

The Debtors tapped Wiley Law Group, PLLC, as legal counsel, Neal A.
Walker, CPA, P.C. as accountant, and Capstone Real Estate Services,
Inc. as property manager.


CONCISE INC: Amends Plan to Add AmeriFactors as Secured Claimholder
-------------------------------------------------------------------
Concise, Inc. submitted a Third Amended Chapter 11 Disclosure
Statement and accompanying Second Amended Chapter 11 Plan of
Reorganization dated July 19, 2021.

The Debtor presents the Third Amended Chapter 11 Disclosure
Statement and accompanying Second Amended Plan of Reorganization
accommodating AmeriFactors Group, LLC's security and additional
related requests from the United States Trustee. As a consequence
of these latest amendments, the Court will set a new schedule of
deadlines for objections to the Debtor's plan of reorganization,
voting, and hearings on and relating to confirmation of the Second
Amended Plan of Reorganization.

There are two insider wage claimants, Michele Brown and David
Johnson who operate the Debtor, who agree to waive their claims for
priority unpaid wages. David Johnson's salary as CEO of Concise,
Inc. is $175,000.00 per year, and the salary of Concise, Inc.'s CFO
Michele Brown is $120,000.00 per year. Both David Johnson and
Michele Brown forewent a portion of their cash salary immediately
preceding the bankruptcy and from the Petition Date to the present.
David Johnson forewent $265,345.17 from January 1, 2019 to June 2,
2021; Michele Brown forewent $167,816.83 over the same period. Both
intend to resume full salary once the Plan is confirmed herein, and
cash flows permits.

The absolute priority rule of 11 U.S.C. § 1129(b) states that a
class of equity creditors may retain its Interest in the Debtor
only if either unsecured creditors consent to the plan, or the
holders of Interests contribute new value to the Debtor. David
Johnson, as sole owner, will waive his claims totaling $402,791.33,
including a $12,850.00 priority claim for his unpaid wages
pre-petition, against the Debtor as new value given to satisfy the
new value corollary to the absolute priority rule.

On June 25, 2021, the Debtor filed its Motion to Allow Claim of
Tietjen Technologies, Inc. as an administrative creditor for the
$66,447.00 unpaid portion of Tietjen Technologies, Inc.'s invoice
for its work as a subcontractor of the Debtor postpetition. The
Debtor attempted to pay Tietjen Technologies, Inc. in full when its
bill became due, but the Debtor fell prey to a phishing scheme by
which the payment intended for Tietjen Technologies, Inc. was
intercepted. Tietjen Technologies, Inc.'s claim is for $66,447.00,
due to be paid by the Effective Date of the Plan.

Class IV: Secured Claims. There are five secured creditor claims.
The first position lien holder AmeriFactors Financial Group, LLC;
the next junior lien holder, Key Star Capital Fund II, L.P. (as
transferee of Bank of America, N.A.); then De Lage Landen; and then
the United States Internal Revenue Service (the "IRS"), (together,
the "Secured Creditors"). The principal balance of claims of the
Secured Creditors is expected to total $807,855.50.

The Debtor shall pay the allowed Secured Claims of AmeriFactors
Financial Group, LLC; Key Star Capital Fund II, L.P. (as transferee
of Bank of America, N.A.); De Lage Landen; and the United States
Internal Revenue Service in this class over a period of 24 months
beginning as of the Effective Date. Claims of the Secured Claims
shall be paid on the basis of 50% of the Debtor's net profits until
fully paid or until the end of the Plan Term, whichever comes
first.

Class V shall consist of Allowed Unsecured Claims. The Debtor
estimates its Unsecured Claims total $2,535,954.70, including
Claims not scheduled as contingent, unliquidated or disputed on the
Debtor's schedules, Claims concerning which proofs of claim were
filed. The Debtor shall pay holders of Allowed Unsecured Claims a
pro rata share of all net cash remaining after payment of the
Claims set forth in Classes I through IV. The creditors holding
claims in Class V are impaired and may not be paid 100% of their
allowed claims as their claims. The projected net profits may not
provide sufficient funding to pay the claims in full in Class V
over the duration of the Plan.

Class VII consists of the claims of the United States Small
Business Administration ("SBA") for the two Economic Injury
Disaster Loans ("EIDLs") it issued to the Debtor post-petition in
response to the COVID-19 pandemic. The Debtor sought and obtained
the Court's authorization to obtain a third SBA EIDL, and the SBA
is currently processing the application for that third EIDL. The
claim of the SBA for its EIDLs, having been incurred post-petition
with the Court's authorization, shall be timely paid in accordance
with its terms until fully paid as an expense of business. When
fully paid the lien shall be released pursuant to the agreed upon
terms. Class VII is not impaired.

This Plan is an operating plan. It provides for continuing
operation of the Debtor's business to fund an orderly repayment of
Claims within the constraints of the cash flow generated by the
Debtor's business. The Plan provides for payments on Secured
Claims, as well as payment of Priority Claims in full over time,
and pro rata distributions to holders of Allowed Unsecured Claims
after the priority and secured claims are satisfied.

A full-text copy of the Third Amended Disclosure Statement dated
July 19, 2021, is available at  from PacerMonitor.com at no
charge.

Attorneys for the Debtor:

     Michael G. Wolff, Esq.  
     Jeffrey M. Orenstein, Esq.
     Wolff & Orenstein, LLC
     15245 Shady Grove Road, 465-N
     Rockville, MD 20850
     301-250-7232

                        About Concise Inc.

Concise, Inc. (dba - CNS) was founded in 2003, as a turnkey
in-building Distributed Antenna System Integrator (DAS).  The
Company offers wireless, infrastructure cabling, cyber|cloud
services, IT telecommunications, managed security, and engineering
design services.  Visit https://www.conciseinc.com for more
information.

Concise, Inc. filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 19-00079) on
January 31, 2019. In the petition signed by David Johnson, chief
executive officer, the Debtor estimated $51,715 in total assets and
$3,556,125 in total liabilities.  

Judge Martin S. Teel, Jr. presides over the case.  Jeffrey M.
Orenstein, Esq. at Wolff & Orenstein, LLC represents the Debtor as
counsel.


CORP GROUP BANKING: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------------
The U.S. Trustee for Region 3 on July 20 appointed an official
committee to represent unsecured creditors in the Chapter 11 cases
of Corp Group Banking S.A. and its affiliates.

The committee members are:

     1. Deutsche Bank Trust Company Americas, as Trustee
        Attention: Brendan Meyer
        60 Wall Street, 24th Fl., NYC60-2405
        New York, NY 10005
        E-mail: brendan.meyer@db.com

     2. Fondo de Inversion LarrainVial Deuda Corporativa
        Attention: Pedro Laborde, Isidora
        Goyenechea 2800, 15th Floor
        Las Condes, Santiago, Chile
        Phone: +56223398500
        E-mail: plaborde@larrainvial.com

     3. MBI Servicios Financieros Limitada
        Attention: German Guerrero
        Presidente Riesco 5711
        Piso 4, Las Condes, Santiago
        Region Metropolitana, Chile
        Phone: +56226553745
        E-mail: german.guerrero@mbi.cl
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                     About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks Approval to Hire Young Conaway as Co-Counsel
--------------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Young
Conaway Stargatt & Taylor, LLP to serve as co-counsel with Simpson
Thacher & Bartlett, LLP.

The firm's services include:

     a. providing legal advice and services regarding local rules,
practices, and procedures and providing substantive and strategic
advice on how to accomplish the Debtors' goals in connection with
the prosecution of their Chapter 11 cases;

     b. reviewing, commenting or preparing drafts of documents to
be filed with the court;

     c. appearing in court and at any meeting with the U.S. trustee
or creditors;

     d. preparing for and pursuing confirmation and approval of a
Chapter 11 plan and disclosure statement; and

     e. performing various services in connection with the
administration of the cases.

The firm's hourly rates are as follows:

     Pauline K. Morgan           $1,075 per hour
     Sean T. Greecher            $765 per hour
     Andrew L. Magaziner         $725 per hour
     Elizabeth S. Justison       $600 per hour
     Roxanne M. Eastes           $450 per hour
     Michele Smith (paralegal)   $310 per hour

Pauline Morgan, Esq., a partner at Young Conaway, disclosed in a
court filing that the 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, Ms.
Morgan disclosed that:

     -- Young Conaway 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.

     -- Young Conaway was retained by the Debtors pursuant to an
engagement agreement dated June 9, 2021.  The billing rates and
material terms of the pre-bankruptcy engagement are the same as the
rates and terms post-petition.

     -- The Debtors have approved a prospective budget and staffing
plan for Young Conaway's engagement for the post-petition period.

The firm can be reached through:

     Pauline K. Morgan, Esq.
     Young Conaway Stargatt & Taylor, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Telephone: (302) 571-6600
     Facsimile: (302) 571-1253
     Email: pmorgan@ycst.com

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks Court Approval to Hire Investment Bankers
-----------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Lazard
Freres & Co. LLC and Lazard Chile SpA as their investment bankers.

The firm's services include:

      (a) analyzing the Debtors' corporate structures, businesses,
operations, financial situation, debt and collateral structures,
inter-creditor dynamics, and shareholder exposure;

      (b) evaluating the Debtors' current and potential debt
capacity in light of their projected cash flows, capital structure,
long-term business plan, operations, and related financial
projections;

      (c) analyzing the Debtors' financial debt by type of
creditor, collateral or pledge, debt agreements, covenants, events
of default, and enforcement;

      (d) assisting in the analysis of the restructuring
alternatives;

      (e) presenting a preliminary report of the firm's analyses of
the Debtors' financial situation;

      (f) assisting the Debtors in developing a restructuring
strategy and related tactics;

      (g) advising the Debtors on tactics and strategies for
negotiating with stakeholders;

      (h) attending meetings of the Board of Directors of the
Debtors with respect to matters on which Lazard has been engaged;
      
      (i) assisting the Debtors in coordinating meetings with
stakeholders and in the implementation of the negotiation
strategies;
     
      (j) providing testimony; and

      (k) providing other financial restructuring advice that the
Debtors may from time to time reasonably request and which are
customarily provided by investment banks acting in similar
situations.

The firm will be paid as follows:

      a. Monthly Fees. A monthly fee of $150,000, payable on August
1 (for the August 2021 monthly fee) and on the first of each month
thereafter until the earlier of the completion of the restructuring
or the termination of Lazard's engagement.  All monthly fees paid
shall be credited (without duplication) against any restructuring
fee payable.

     b. Itau Restructuring Fee. A fee of $2,625,000 in respect of a
restructuring of the "Itau facility" payable upon the consummation
of a restructuring of the facility.

     c. Reg S Notes Restructuring Fee. A fee equal to 0.7 percent
of the face value of the "Reg S Notes" involved in any
restructuring, which fee shall not be more than $2.225 million
payable upon consummation of the restructuring.

Lazard will also receive reimbursement for work-related expenses
incurred.

Ari Lefkovits, a managing director at Lazard, attests that his firm
is a "disinterested person" within the meaning of section 101(14)
of the Bankruptcy Code.

Lazard can be reached through:

     Ari Lefkovits
     Lazard Freres & Co. LLC
     30 Rockefeller Plaza
     New York, NY 10112
     Phone: 1-212-632-6000

     -- and --

     Lazard Chile S.P.A.
     Aurelio Gonzalez 3390
     Piso 4 Oficina 401
     Santiago.
     Phone: +56 2 2246 3300

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks to Hire Carey y Cia as Special Chilean Counsel
----------------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Carey y
Cia. Limitada as their special Chilean counsel.

The firm's services include:

     (a) providing legal assessments at the highest level to the
Debtors and the Debtors' legal and financial advisors, both in
Chile and in the United States, in all matters related to the
Debtors;

     (b) coordinating and managing, together with the Debtors, the
implementation of the restructuring and reorganization process in
Chile, which will involve the preparation of all related
documentation required for the successful restructuring and
reorganization of the Debtors under the Project; and

     (c) providing advice and support to the Debtors in all
procedures, formalities, and any diligences that may be necessary
for such purposes, including the preparation of the required
documentation.

The firm will be paid as follows:

     Partner                       $320 - $400 per hour
     Counsel and Senior Associate  $220 - $290 per hour
     Associate                     $170 - $210 per hour
     Clerk and Paralegal            $90 - $110 per hour

Carey has agreed to a capped fee structure of $50,000.

Salvador Valdes, a partner at Carey, assured the court that the
firm is a "disinterested person" within the meaning on 11 U.S.C.
101(14).

The firm can be reached through:

     Salvador Valdes, Esq.
     Carey y Cia. Limitada
     Isidora Goyenechea 2800, 43rd Floor,
     Las Condes, Santiago, Chile
     Phone: +56 2 2928 2200
     Fax:+56 2 2928 2228

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks to Hire Prime Clerk as Administrative Advisor
---------------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Prime
Clerk, LLC as their administrative advisor.

The firm's services include:

     a. assisting in the solicitation, balloting and tabulation of
votes, preparing any related reports in support of confirmation of
a Chapter 11 plan, and processing requests for documents;

     b. preparing an official ballot certification and, if
necessary, testifying in support of the ballot tabulation results;

     c. assisting in the preparation of the Debtors' schedules of
assets and liabilities and statements of financial affairs and
gathering data in conjunction therewith;

     d. providing a confidential data room, if requested;

     e. managing and coordinating any distributions pursuant to a
Chapter 11 plan; and

     f. other bankruptcy administrative services.

The firm's hourly rates are as follows:

     Director of Solicitation                  $210 per hour
     Solicitation Consultant                   $190 per hour
     COO and Executive VP                      No charge
     Director                                  $175 - $195 per
hour
     Consultant/Senior Consultant              $65 - $165 per hour
     Technology Consultant                     $35 - $95 per hour
     Analyst                                   $30 - $50 per hour

The Debtors provided Prime Clerk an advance in the amount of
$50,000.

Prime Clerk will also be reimbursed for out-of-pocket expenses
incurred.

Benjamin Steele, vice president of Prime Clerk, 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.

Prime Clerk can be reached at:

     Benjamin J. Steele
     Prime Clerk LLC
     830 3rd Avenue, 9th Floor
     New York, NY10022
     Tel: (212) 257-5450
     Email: bsteele@primeclerk.com

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks to Hire RPA Asset Management as Financial Advisor
-------------------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire RPA
Asset Management Services, LLC as their financial advisor.

The firm's services include:

-- assisting the Debtors and their legal counsel in preparing any
pleadings, motions or other documents to be filed in the Debtors'
Chapter 11 cases;

-- reviewing and revising, as necessary, financial-related
disclosures prepared by the Debtors and required by the court,
including but not limited to, schedules of assets and liabilities,
statement of financial affairs, and monthly operating reports;

-- assisting in the preparation and completion of a plan of
reorganization, disclosure statement and other related filings
required by the Debtors to effectuate an exit from bankruptcy and
conclusion of the Chapter 11 cases;

-- assisting with asset sales pursuant to Section 363 of the
Bankruptcy Code or through a Chapter 11 plan if appropriate;

-- assisting with any other filings as required by the court or
the Office of the U.S. Trustee; and

-- other services requested by the Debtors from time to time.

The firm's hourly rates are as follows:

     Executive Directors   $885 - $1,095 per hour
     Consulting Staff      $345 - $795 per hour
     Support Staff         $195 per hour

As disclosed in court filings, RPA is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Chip Cummins
     RPA Asset Management Services, LLC
     45 Eisenhower Drive
     Paramus, NJ 07652
     Phone: (201) 527 6652
     Email: ccummins@rpaadvisors.com

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORP GROUP: Seeks to Hire Simpson Thacher & Bartlett as Counsel
---------------------------------------------------------------
Corp Group Banking SA and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to hire Simpson
Thacher & Bartlett, LLP to serve as legal counsel in their Chapter
11 cases.

The firm's services include:

      (a) advising with respect to the Debtors' rights, powers and
duties in the continued operation of their business and in the
areas of federal bankruptcy law, corporate finance, U.S. securities
laws, general corporate matters, corporate governance, litigation,
and U.S. tax;

     (b) advising the Debtors regarding pending matters and the
general status of the Chapter 11 cases and coordinating with
Delaware co-counsel, Young Conaway Stargatt & Taylor, LLP, on any
necessary or appropriate steps;

     (c) taking all necessary or appropriate action to protect and
preserve the Debtors' estates during the pendency of their
bankruptcy cases;

     (d) preparing legal documents;

     (e) communicating with creditors and other parties in
interest;

     (f) taking all necessary actions in connection with a Chapter
11 plan, disclosure statement and all related documents and such
further actions as may be required or advisable in connection with
the implementation of the plan;

     (g) advising the Debtors on corporate, litigation and other
non-bankruptcy matters;

     (h) attending court hearings and advising the Debtors on the
conduct of the cases; and

     (i) performing all other necessary legal services.

The firm's hourly rates are as follows:

     Partners           $1,370 - $1,850 per hour
     Senior Counsel     $1,350 per hour
     Counsel            $1,320 per hour
     Associates         $655 - $1,240 per hour
     Paraprofessionals  $320 - $545 per hour

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, the
following is provided in response to the request for additional
information:

   -- Simpson Thacher has not agreed to a variation of its standard
or customary billing arrangements for this engagement;

   -- None of the professionals included in this engagement have
varied their rates based on the geographic location of the Chapter
11 cases;

   -- The billing rates and material terms of the pre-bankruptcy
engagement are the same as the rates and terms proposed in the
Debtors' employment application, subject to customary annual rate
increases typically as of Jan. 1 each year and step-ups in rates
for associates when they advance in class seniority; and

   -- The Debtors have approved a prospective budget and staffing
plan for Simpson Thacher's engagement for the anticipated
post-petition period as appropriate. In accordance with the U.S.
Trustee Guidelines, the budget may be amended as necessary to
reflect changed or unanticipated developments.

Michael Torkin, Esq., a partner at Simpson Thacher, 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.

Simpson Thacher can be reached at:

     Michael H. Torkin, Esq.
     Kathrine A. McLendon, Esq.
     Nicholas E. Baker, Esq.
     Edward R. Linden, Esq.
     Jamie J. Fell, Esq.
     Simpson Thacher & Bartlett, LLP
     425 Lexington Avenue
     New York, NY 10017
     Telephone: (212) 455-2000
     Facsimile: (212) 455-2502
     Email: michael.torkin@stblaw.com
            kmclendon@stblaw.com
            nbaker@stblaw.com
            edward.linden@stblaw.com
            jamie.fell@stblaw.com

                            About Corp Group Banking

Corp Group Banking SA is a Chile-based financial holding firm
controlled by billionaire Alvaro Saieh.

Corp Group Banking and its affiliate, Inversiones CG Financial
Chile Dos SpA, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021.  On
June 29, 2021, Compania Inmobiliaria y de Inversiones Saga SpA, CG
Financial Chile SpA and CG Financial Colombia S.A.S. filed Chapter
11 petitions.  The cases are jointly administered under Case No.
21-10969.

At the time of the filing, Corp Group Banking had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.  

Judge J. Kate Stickles oversees the cases.  

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Simpson
Thacher & Bartlett, LLP as bankruptcy counsel; Carey y Cia.
Limitada as special Chilean counsel; RPA Asset Management Services,
LLC as financial advisor; and Lazard Freres & Co. LLC and Lazard
Chile SpA as investment banker.  Prime Clerk, LLC is the claims and
noticing agent and administrative advisor.


CORPORATE COLOCATION: Seeks OK on Cash Deal with Landlord, SBA
--------------------------------------------------------------
Corporate Colocation, Inc.; Landlord, 530 6th Street, LLC; and the
U.S. Small Business Administration stipulate to extend to September
18, 2021, the effectivity of the Amended Order authorizing the
Debtor to use cash collateral and to grant replacement liens.  The
parties also seek to apply the extension to the stipulation
regarding administrative rent approved by the Court pursuant to
Amended Order.  The agreement was reached in light of the
continuation of the August 4, 2021 hearing on the Debtor's cash
collateral motion to September 15 at 10 a.m.  

The deadline for oppositions and reply briefs shall be extended
accordingly.  

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

Counsel for 530 6th Street, LLC:

   Jeffrey Lee Costell, Esq.
   Costell & Adelson Law Corporation
   1299 Ocean Avenue, Suite 450
   Santa Monica, CA 90401
   Telephone: (310) 458-5959
   Facsimile: (310) 458-7959
   Email: jlcostell@costell-law.com

                  About Corporate Colocation Inc.

Corporate Colocation Inc. -- www.corporatecolo.com -- operates a
large server farm that provides website services to about 25
subtenants that is located at 530 West Sixth Street, Suite 502 et.
seq., Los Angeles, California 90014. The Debtor sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif.
Case No. 21-12812) on April 7, 2021. In the petition signed by
Jonathan Goodman, president, the Debtor disclosed $2,284,042 in
assets and $5,041,445 in liabilities.

Judge Ernest Robles oversees the case.

Robert M. Yaspan, Esq. at Law Offices of Robert M. Yaspan is the
Debtor's counsel.



COSMOLEDO LLC: Maison Plans to Give Unused PPP Loan to Creditors
----------------------------------------------------------------
Steven Church of Bloomberg News reports that an unused federal loan
meant to rescue an artisanal French bakery chain in New York during
the pandemic may help pay creditors of the bankrupt company rather
than go back to the government.

Under a settlement outlined in a court hearing in Manhattan on
Tuesday, July 20, 2021, the $5.3 million remaining from the loan
will be used to help pay the debts of Cosmoledo LLC, which owned
the U.S. stores of the famous French Maison Kayser brand. The deal
is designed to ensure that a portion of the money will pay
creditors who would have been eligible for reimbursement.

                        About Cosmoledo LLC

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

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

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

Judge Michael E. Wiles oversees the case. The Debtors have tapped
Mintz & Gold LLP as their bankruptcy counsel, and CBIZ Accounting,
Tax and Advisory of New York LLC as their financial advisor,
accountant, and consultant. Donlin Recano & Co., Inc., is the
claims agent.

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


CRAVE BRANDS: Wins Cash Collateral Access Thru August 4
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, has authorized Crave Brands LLC and Meathead
Restaurants LLC to use cash collateral in which LQD Financial Corp.
claims an interest on an interim basis through August 4, 2021.

The Debtors are permitted to use cash collateral to pay actual,
ordinary, and necessary expenses, in accordance with the budget,
with a 10% variance.

The Debtors have stipulated that (a) the indebtedness described in
the loan agreements executed by and between LQD and the Debtors
matured on March 31 and (b) as of the Petition Date, the balance
due to LQD is not less than $6,550,000 in principal plus accrued
interest at the rate of 17% per annum.

LQD is granted replacement liens and security interests on the
Debtors' property and assets, to the same extent, validity and
priority as LQD's pre-petition liens and security interests, if
any, with any such liens and security interests automatically
perfected without further action. The replacement liens will be in
an amount equal to the aggregate post-petition cash collateral
used.

In addition to the replacement liens granted, LQD is granted a
super-priority administrative claim under Sections 503(b)(1),
507(a), and 507(b) of the Bankruptcy Code for the amount by which
the replacement lien proves to be inadequate and LQD will have all
the rights accorded to it pursuant to Section 507(b) of the Code.

The Debtors are also directed to maintain insurance of the kind of
covering their property.

A further hearing on the matter is scheduled for August 2 at 2
p.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3xUkbnX from PacerMonitor.com.

The Debtor projects $731,400 in total receipts and $1,003,969 in
total disbursements for July 15 to August 4.

                        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., a creditor, is represented by William
J.Factor, Esq., of the Law Office of William J. Factor, Ltd.



D.W. TRIM: Unsecured Creditors Will Recover 31% Under Plan
----------------------------------------------------------
D.W. Trim, Inc., submitted a Chapter 11 Plan and a Disclosure
Statement.

This is a reorganizing plan.  The Debtor seeks to make payments
under a Plan paying unsecured creditors a dividend over time.

Under the Plan, Class 6 General unsecured claims total $1,408,896.
Creditors will be paid monthly beginning in M4 with the following
amount and interval: $1,962/mo in Y1 (M4-M12); $2,641.75 in M13-24;
$3,472 in M25-36; $4,717.25 in M37-48; $5,660.75 (M49-60) The total
payout is $281,780.  Creditors will receive a 20% estimated
dividend to Class 6 members based on scheduled claims and 31% based
on reconciled claims. Class 6 is impaired.

Class 7 General unsecured claims consist of current warranty
claimants or general contractors or property developers who have
brought suit against the Debtor or who possess pre-Effective Date
claims that could bring suit against the Debtor.  This class is not
impaired.

The Plan will be funded by D.W.'s business operation.

Attorneys for the Debtor:

     Steven R. Fox
     THE FOX LAW CORPORATION, INC.
     17835 Ventura Blvd., Suite 306
     Encino, CA 91316
     Tel: (818) 774-3545
     Fax: (818) 774-3707
     E-mail: srfox@foxlaw.com

A copy of the Disclosure Statement dated July 14, 2021, is
available at https://bit.ly/2U9GmIc from PacerMonitor.com.

                        About D.W. Trim Inc.

D.W. Trim, Inc., provides labor and materials as a finish carpentry
sub-contractor on tract home projects, largely in the Inland
Empire. It was incorporated in 2008 and operates its business in
Riverside, Calif.

D.W. Trim sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. C.D. Calif. Case No. 21-10758) on Feb. 15, 2021.  In its
petition, the Debtor disclosed assets of between $1 million and $10
million and liabilities of the same range.  D.W. Trim President
Christopher S. De Mint signed the petition.

Judge Mark D. Houle oversees the case.

The Fox Law Corporation, Inc., is the Debtor's legal counsel.


DANA INC: Moody's Affirms Ba3 CFR & Alters Outlook to Stable
------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Dana Incorporated
- corporate family rating at Ba3, Probability of Default Rating at
Ba3-PD, senior secured rating at Baa3 and the senior unsecured
rating at B2. At the same time, Moody's affirmed Dana Financing
Luxembourg S.a.r.l's senior unsecured rating at B2. The outlook was
changed to stable from negative. The Speculative Grade Liquidity
Rating remains SGL-1.

The rating action reflects Moody's expectation for a sustained
rebound in operating results as Dana's key end markets recover, led
by global light vehicle volumes that are expected to maintain
positive momentum through 2022. Further, Dana is benefiting from US
consumers' increasing preference for light trucks and SUVs, with
rear-wheel and all-wheel drive capabilities, as North America light
vehicle revenue represents approximately 30% of total revenue.
Demand for medium and heavy-duty trucks as well as higher-margin
agriculture equipment are also experiencing solid recoveries.
Margin and free cash flow will benefit from improving operating
leverage and prior cost-saving initiatives but face friction from
higher raw material, freight and labor costs as well as increased
spending on electrification products and capabilities.

Moody's took the following actions:

Dana Incorporated:

Corporate Family Rating, affirmed at Ba3

Probability of Default Rating, affirmed at Ba3-PD

Senior Secured Bank Credit Facility, affirmed at Baa3 (LGD1)

Backed Senior Secured Bank Credit Facility, affirmed at Baa3
(LGD1)

Senior Unsecured Rating, affirmed at B2 (LGD5)

Speculative Grade Liquidity Rating, unchanged at SGL-1

Outlook, changed to Stable from Negative

Dana Financing Luxembourg S.a.r.l.:

Backed Senior Unsecured Rating, affirmed at B2 (LGD5)

Outlook, changed to Stable from Negative

RATINGS RATIONALE

Dana's ratings reflect a strong competitive position as a key,
global supplier of driveline products (axles, driveshafts and
transmissions) and thermal sealants for light vehicle and off-road
vehicles. The product mix is weighted towards light trucks and SUVs
in North America, a segment that continues to grow as a percentage
of overall vehicle production levels. All four operating segments
are experiencing favorable demand conditions -- Light Vehicle
(light trucks, SUVs/CUVs), Commercial Vehicle (heavy and
medium-duty trucks), Off-Highway (agriculture, construction and
mining equipment) and Power Technologies -- that will boost
earnings and cash flow despite cost headwinds and operating
inefficiencies from erratic OEM production schedules that will
persist into the back half of 2021.

The ratings also reflect the company's vulnerability to cyclical
end markets, especially agriculture, mining and heavy-duty trucks,
and significant reliance on internal combustion engine vehicle
platforms. Balancing the transition from higher return, but
declining, combustion-related revenues with the industry's
evolution to currently unprofitable, but higher growth, electric
vehicle revenues remains a key risk. Nonetheless, more recent
acquisitions are accelerating electrification capabilities,
highlighted by 50% of the two-year new business backlog tied to
electric vehicles.

Moody's adjusted debt-to-EBITDA is currently 5.2x but expected to
fall steadily to below 4x by year-end 2021. Prior to 2020, the
EBITDA margin was consistently in the 11% range but will take
longer to return to those levels because of supply chain
disruptions, elevated freight and labor costs and an acceleration
in electrification spending. Moody's projected free cash flow (cash
flow from operations less capital expenditures less dividends) will
moderate from pre-2020 levels with higher growth investment in
working capital and capital expenditures but should still
comfortably exceed $100 million in 2021 before increasing
meaningfully in 2022.

The stable outlook reflects Moody's expectation for an accelerated
rebound in results beginning in the second half of 2021 and
building through 2022 as key end markets (light vehicle, commercial
vehicle and agriculture) generate momentum.

The SGL-1 Speculative Grade Liquidity Rating indicates very good
liquidity with Moody's expectation for Dana to maintain a solid
cash and marketable securities position (over $500 million at March
31, 2021) and ample availability under the $1.15 billion revolving
credit facility set to expire 2026. Moody's estimates that Dana's
run-rate cash position will remain above $400 million to provide
enhanced financial flexibility due to lingering post-pandemic
uncertainty and the uneven recovery in key end markets. However,
the cash position could fall modestly with improving industry
supply chain mechanics that could lead to accelerated debt
repayment. Moody's anticipates free cash flow to moderate slightly
in 2021 from pre-pandemic levels due to growth investments before
increasing in 2022.

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

The ratings could be upgraded if Moody's expects sustained revenue
growth to lead to EBITA-to-interest over 3.5x, debt-to-EBITDA in
the 3x-range or below and significant and increasing free cash
flow, while maintaining a very good liquidity profile. An EBITA
margin in the high-single digits could also support an upgrade.
Continued cost structure improvements to better position the
company to manage through cyclicality would also be viewed
favorably. Ratings could be downgraded if Moody's believes that
EBITA-to-interest coverage is expected to fall to 2x or
debt-to-EBITDA is sustained at or above 4x. Other developments that
could lead to downward rating pressure include deteriorating
liquidity and aggressive debt funded acquisitions or shareholder
returns that result in leverage remaining elevated.

The principal methodology used in these ratings was Automotive
Suppliers published in May 2021.

Dana Incorporated is a global manufacturer of drive systems (axles,
driveshafts, transmissions), sealing solutions (gaskets, seals, cam
covers, oil pan modules) and thermal-management technologies
(transmission and engine oil cooling, battery and electronics
cooling) serving OEMs in the light vehicle, commercial vehicle and
off-highway markets. Revenue for the latest twelve months ended
March 31, 2021 was approximately $7.4 billion.


DAVIDZON MEDIA: Unsecureds Asserting $78K to Get Paid 100% in Plan
------------------------------------------------------------------
Davidzon Media, Inc., and affiliated debtors filed with the
Bankruptcy Court a Chapter 11 Plan and Disclosure Statement dated
July 16, 2021.  The Plan will be financed from continuing operating
income, reorganized business operations of the Debtors, from the
timely collection of outstanding receivables, as well as from funds
accumulated in the Debtors' DIP accounts.  

The Plan classified the claims as:

  * Class I - (Secured Claim) shall consist of the secured claim of
the Small Business Administration for $468,427.  Class 1 Claim
shall be paid in accordance with the original terms.

  * Class II - (Unsecured Claim) shall consist of the claims of
general unsecured creditors totaling $78,538, and will receive a
100% distribution by equal monthly installment over a period of
five years from the Effective Date, without interest.  

The Plan also establishes a Class for Claim that is subject to
subordination under Section 510 of the Bankruptcy Code.  This Class
shall consist of the claim of creditor, Great Elm Capital, for
$10,745,525.  The holder of Subordinated Claim has a claim below
the equity of the Debtors, and therefore is not entitled to receive
any monetary distribution under the Plan.  Upon confirmation of the
Plan, the Debtor shall continue to operate the radio station and
pay the claims of valid, non-subordinated claim holders from the
continued operating income.

A copy of the Disclosure Statement is available for free at
https://bit.ly/2V02Zig from PacerMonitor.com.

Debtor Davidzon Media is seeking the substantive consolidation of
the lead case to that of Davidzon Radio Inc., (Bankr. E.D. N.Y.
Case No. 21-40782) an affiliated debtor that filed a Chapter 11
petition on January 15, 2021.  The Debtors contend that their
successful reorganization requires that the claims and liabilities
of both entities be addressed jointly, as the two entities are
inextricably linked.

Counsel for the Debtors:

   Alla Kachan, Esq.
   Law Offices of Alla Kachan, P.C.
   2799 Coney Island Ave., Ste. 202
   Brooklyn, NY 11235
   Telephone: (718) 513-3145
   Facsimile: (347) 342-3156
   Email: alla@kachanlaw.com

                       About Davidzon Media

Davidzon Media, Inc. and its affiliates -- Bravo Price Corp.;
Advanced Business Integration Network Corp.; and Advance Business
International Network, Corp.-- filed voluntary petitions for relief
under Chapter 11 of the Bankruptcy Code (Bankr. E.D. N.Y. Lead Case
No. 21-40308) on Feb. 8, 2021, their cases being jointly
administered under Davidzon Media's case.  Grigory Davidzon,
president, signed the petitions.

At the time of the filing, Davidzon Media disclosed total assets of
up to $50,000 and total liabilities of up to $10 million.  Judge
Elizabeth S. Stong oversees the cases.  The Law Offices of Alla
Kachan, PC and Wisdom Professional Services Inc. serve as the
Debtor's legal counsel and accountant, respectively.

An affiliated debtor, Davidzon Radio Inc., has filed a Chapter 11
petition earlier on January 15, 2021 (Bankr. E.D. N.Y. Case No.
21-40782).  Debtor Davidzon Media is seeking for the substantive
consolidation of their cases.  The substantive consolidation motion
is pending in the Bankruptcy Court.



DEER CREEK: Court Extends Plan Exclusivity Until August 2
---------------------------------------------------------
At the behest of Debtor Deer Creek Diner, LLC, Judge Thomas P.
Agresti of the U.S. Bankruptcy Court for the Western District of
Pennsylvania extended the period in which the Debtor may file a
Chapter 11 Plan and Disclosure Statement to August 2, 2021.

The Debtor has been working with the Pennsylvania Department of
Revenue to untangle the amount of taxes actually owed due to
reporting and filing issues, in part, caused by the Debtor's
payroll company years ago.

The Debtor believes that they are on the cusp of having all tax
issues sorted out and that an amended proof of claim will
eventually need to be by the Pennsylvania Department of Revenue.
Being that this case essentially has two creditors with the largest
being the Pennsylvania Department of Revenue, filing a Chapter 11
Plan is not prudent until the claim of the Pennsylvania Department
of Revenue is settled and finalized.

The Debtor has filed all operating reports, met all Chapter 11
operating requirements, and paid all US Trustee fees since the
filing of the case. All of the Debtor's post-petition tax
obligations are current. The issues being dealt with are for tax
filings that are many years old.

No creditors or parties in interest will be prejudiced with the
exclusivity extensions.  

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3kLeGE8 from PacerMonitor.com.

A copy of the Court's Extension Order is available at
https://bit.ly/3iADD2n from PacerMonitor.com.

                            About Deer Creek Diner

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.


DIOCESE OF WINONA: Disclosures OK'd, Sept. 23 Hearing on Plan Fixed
-------------------------------------------------------------------
Judge William J. Fisher approved the Disclosure Statement relating
to the Third Amended Modified Plan of The Diocese of
Winona-Rochester.  

The hearing to consider confirmation of the Plan is scheduled for
September 23, 2021 at 9:30 a.m. in Courtroom 2A, 200 Warren E.
Burger Federal Building and United States Courthouse, 316 North
Robert Street, St. Paul, Minnesota.  Objections to Plan
confirmation must be filed 14 days before the hearing, within which
period also ballots to accept or reject the Plan must be filed.  

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

                 About Diocese of Winona-Rochester

The Diocese of Winona-Rochester was established on Nov. 26, 1889
when Pope Leo XIII issued the apostolic constitution which erected
the diocese, and set its geographical boundaries. The Diocese
encompasses the 20 southernmost counties of the state of Minnesota
and measures 12,282 square miles. The Diocese is home to 107
parishes, four high schools, 30 junior high, elementary or
preschools, and Immaculate Heart of Mary Seminary in Winona. The
Diocese of Winona-Rochester is headquartered at the Diocesan
Pastoral Center in Winona, Minnesota.

The Diocese of Winona-Rochester sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 18-33707) on
Nov. 30, 2018. In the petition signed by Reverend Monsignor Thomas
P. Melvin, vicar general, the Debtor estimated $10 million to $50
million in assets and $1 million to $10 million in liabilities.

Judge William J. Fisher oversees the case.

The Debtor tapped Bodman PLC as bankruptcy counsel, Restovich Braun
& Associates as local counsel, Burns Bowen Bair LLP as special
insurance litigation counsel, and Alliance Management, LLC as
financial consultant.

The U.S. Trustee for Region 12 appointed the official committee of
unsecured creditors in the Debtor's Chapter 11 case on Dec. 19,
2018. The committee is represented by Stinson Leonard Street, LLP.


DJM HOLDINGS: Cabana Series IV Opposes Plan & Disclosures
---------------------------------------------------------
U.S. Bank Trust National Association as Trustee of the Cabana
Series IV Trust ("Creditor"), objects to the proposed Chapter 11
Plan and Disclosure Statement of DJM Holdings, Ltd.

The property in question is real estate located at 16775 GERARD
AVENUE MAPLE HEIGHTS, OH 44137. The Debtor's plan and disclosure
statement proposes to pay the secured amount of $25,001.04 (value
of $26,000.00 minus $988.96 real estate tax) over 30 years
amortized at 6%. Creditor holds a secured claim in the amount of
$103569.79, and shall be filing its Proof of Claim
contemporaneously. Creditor has filed its "Notice of Election Under
11 U.S.C. § 1111(b)(2), and specifically elects pursuant to
1111(b) of Chapter 11, Title 11 U.S.C. application of Paragraph (2)
of §1111(b). Creditor demands that its proof of claim be paid in
full as filed.

In the event that the Court should deny the 1111(b)(2) election for
any reason, Creditor believes that Debtor has undervalued the
property in question, and Creditor requests permission to perform a
full exterior and interior appraisal. The Debtor's Chapter 11 Plan
does not adequately protect the Creditor's interest in said
Property and should be denied confirmation. Debtor's Disclosure
Statement must be amended.

A full-text copy of the Creditor's objection dated July 19, 2021,
is available https://bit.ly/3eHhQoC from PacerMonitor.com at no
charge.

Attorney for Creditor:

     Jon J. Lieberman
     Sottile & Barile, Attorneys at Law
     394 Wards Corner Road, Suite 180
     Loveland, OH 45140
     Phone: 513.444.4100
     Email: bankruptcy@sottileandbarile.com

                       About DJM Holdings

Concord-based DJM Holdings Ltd is the fee simple owner of 38
properties in Ohio, having a total current value of $1.02 million.

DJM Holdings sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ohio Case No. 21-10483) on Feb. 14, 2021.  At the
time of the filing, the Debtor disclosed $1,144,439 in assets and
$2,816,538 in liabilities.  Judge Arthur I. Harris oversees the
case.  The Debtor is represented by Forbes Law, LLC.


DJM HOLDINGS: Creditor Complains of Undervalued Collateral
----------------------------------------------------------
Creditor, Earnest Inc. filed an objection to the Chapter 11 Plan
and Disclosure Statement of DJM Holdings Ltd, complaining that the
Plan does not adequately protect the Creditor's interest.  The
Debtor's real estate property located at 5154 Anthony Street, in
Maple Heights, Ohio secures the Creditor's claim.  

The Debtor's Plan and Disclosure Statement proposes to pay the
Creditor's secured claim of $26,802 (value of $31,000 minus $4,198
real estate tax) over 30 years amortized at 6%.  The Creditor holds
a secured claim for $93,865.  The Creditor said it has filed a
Notice of Election under Section 1111(b)(2) of the Bankruptcy Code,
and demands that its proof of claim be paid in full as filed.  

In the event the Court should deny the 1111(b)(2) election for any
reason, the Creditor said it will seek permission to perform a full
exterior and interior appraisal of the property.  The Creditor
believes that Debtor has undervalued the property in question.

A copy of the objection is available for free at
https://bit.ly/3BwVHU3 from PacerMonitor.com.

Counsel for Earnest Inc.:

   Jon J. Lieberman, Esq.
   Sottile & Barile, Attorneys at Law
   394 Wards Corner Road, Suite 180
   Loveland, OH 45140
   Telephone: 513.444.4100
   Email: bankruptcy@sottileandbarile.com

                        About DJM Holdings

Concord-based DJM Holdings Ltd is the fee simple owner of 38
properties in Ohio, having a total current value of $1.02 million.

DJM Holdings sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ohio Case No. 21-10483) on Feb. 14, 2021.  At the
time of the filing, the Debtor disclosed $1,144,439 in assets and
$2,816,538 in liabilities.  Judge Arthur I. Harris oversees the
case.  The Debtor is represented by Forbes Law, LLC.


EKSO BIONICS: Hires WithumSmith+Brown as New Auditor
----------------------------------------------------
Ekso Bionics Holdings, Inc. was notified that OUM & Co. LLP, an
independent registered public accounting firm, combined its
practice with WithumSmith+Brown, P.C., and that the combined name
of the practice would be WithumSmith+Brown, P.C.  As a result of
this transaction, on July 15, 2021, OUM resigned as the auditors of
the Company, and with approval of the Audit Committee of the
Company's Board of Directors, Withum was engaged as the Company's
independent registered public accounting firm.

Prior to engaging Withum, the Company did not consult with Withum
regarding the application of accounting principles to a specific
completed or contemplated transaction or regarding the type of
audit opinions that might be rendered by Withum on the Company's
financial statements, and Withum did not provide any written or
oral advice that was an important factor considered by the Company
in reaching a decision as to any such accounting, auditing or
financial reporting issue.

The audit report of OUM on the consolidated financial statements of
the Company for the fiscal year ended Dec. 31, 2020, did not
contain any adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting
principles.  The audit report of OUM on the consolidated financial
statements of the Company for the fiscal year ended Dec. 31, 2019,
contained an emphasis paragraph that raised substantial doubt about
the Company's ability to continue as a going concern, but otherwise
did not contain any adverse opinion or disclaimer of opinion and
were not qualified or modified as to uncertainty, audit scope or
accounting principles.

The Company stated that during the years ended Dec. 31, 2020 and
Dec. 31, 2019, and during the interim period from the end of the
most recently completed fiscal year through July 15, 2021, the date
of resignation, there were no disagreements with OUM on any matter
of accounting principles or practices, financial statement
disclosure or auditing scope or procedures, which disagreements, if
not resolved to the satisfaction of OUM would have caused it to
make reference to such disagreement in its reports.

                        About Ekso Bionics

Ekso Bionics -- http://www.eksobionics.com-- is a developer of
exoskeleton solutions that amplify human potential by supporting or
enhancing strength, endurance and mobility across medical and
industrial applications.  Founded in 2005, the Company continues to
build upon its expertise to design some of the most cutting-edge,
innovative wearable robots available on the market.  The Company is
headquartered in the Bay Area and is listed on the Nasdaq
CapitalMarket under the symbol EKSO.

Ekso Bionics reported a net loss of $15.83 million for the year
ended Dec. 31, 2020, compared to a net loss of $12.13 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $56.50 million in total assets, $15.53 million in total
liabilities, and $40.97 million in total stockholders' equity.


ENKOGS1 LLC: Bid to Use Cash Collateral Denied as Moot
------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, has denied the motion for authority to use cash
collateral filed by Enkogs1, LLC as moot after reviewing the
pleading and having considered the position of the parties.

The Bankruptcy Court previously authorized the Debtor to use cash
collateral on an interim basis until the July 8 hearing.

Following the hearing on July 8, Judge Karen S. Jennemann approved
in open court the Debtor's Amended Chapter 11 Small Business
Subchapter V Plan.  A Post Confirmation Status Conference is
scheduled for October 21.

A copy of the order is available at https://bit.ly/36NlCIM from
PacerMonitor.com.

                        About ENKOGS1, LLC

ENKOGS1, LLC is a Texas limited liability company, formed on July
31, 2018, which owns and operates a 79-room hotel in Fulton
(Rockport), Texas under the flag of Econo Lodge Inn & Suites.

ENKOGS1 filed a voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 6:21-bk-00276) on
January 22, 2021. In the petition signed by Marco Kozlowski,
managing member, the Debtor disclosed between $1 million to $10
million in both assets and liabilities.

Judge Karen S. Jennemann oversees the case.

The Debtor is represented by BARTOLONE LAW, PLLC as counsel.



FIRST TO THE FINISH: Wins Cash Collateral Access Thru Aug 31
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Illinois has
entered a Seventh Interim Order authorizing Michael E. Collins of
Manier & Herod, P.C., the chapter 11 trustee of First to the Finish
Kim and Mike Viano Sports Inc., to use cash collateral on an
interim basis through August 31, 2021, and provide adequate
protection.

An immediate need exists for the Trustee to be able to use Cash
Collateral in order to minimize the disruption of the Debtor's
business, operate the Debtor's business in an orderly manner,
maintain business relationships with vendors, suppliers, and
customers, pay employees, and satisfy other operational as well as
working capital needs.

CNB Bank and Trust, N.A., Nike USA Inc., the Bank of Springfield
and the Internal Revenue Service have asserted that they each hold
a perfected security interest in property of the Debtor's
bankruptcy estate.

Except with respect to Nike, the Trustee reserves the right to
challenge whether he is subject to the lien challenge periods as
set forth on the First Cash Collateral Order and the Interim Orders
and the Trustee’s adoption of the Debtor’s Cash Collateral
Motion will not be deemed to waive or otherwise prejudice the
Trustee in that regard.

Nike has retained the right under the Order Extending Lien
Challenge Period, to challenge the liens and claims of CNB, up to
and including July 13, subject to further extensions of the Court.

The Secured Lenders and the Trustee have negotiated at arm's-length
and in good faith regarding the Trustee’s use of Cash Collateral
to fund the administration of the Chapter 11 Case and the continued
operation of Debtor's business. The Secured Lenders have agreed to
permit the Trustee to use their Cash Collateral, if any, for the
period through the Termination Date in accordance with the budget,
with a 10% variance.

As adequate protection for the Debtor's use of cash collateral, the
Secured Lenders are granted valid and perfected, security interests
in, and liens including, but not limited to, replacement liens  on
all of the right, title, and interest of the Estate.

As further adequate protection, and only to the extent of (a) the
diminution of value of the Secured Lender's interest in the
Prepetition Collateral occurring from the Petition Date to the
Termination Date and (b) the prepetition validity and priority of
each Secured Lender's respective security interests in the
Prepetition Collateral, the Secured Lenders will have claims
against the Debtor's Estate that constitute expenses of
administration under sections 503(b)(1), 507(a) and 507(b) of the
Bankruptcy Code with priority over any and all administrative
expenses of the kinds specified or ordered pursuant to any
provision of the Bankruptcy Code.

The Adequate Protection Liens and the 507(b) Claims are, and will
be, valid, perfected, enforceable and effective as of the Petition
Date without the need for any further action by the Trustee, the
Secured Lenders, or the necessity of execution or filing of any
instruments or agreements.

A final telephonic hearing is scheduled for August 24 at 9 a.m.

A copy of the order and the Debtor's budget is available for free
at https://bit.ly/3wUkbTw from PacerMonitor.com.

The Debtor projects $150,000 in budgeted cash receipts and $149,035
in total cash disbursements for July.

                  About First to the Finish Kim
                    and Mike Viano Sports Inc.

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

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

Judge Laura K. Grandy oversees the case.

The Debtor is represented by Carmody MacDonald P.C.

The Chapter 11 Trustee is Michael E. Collins of Manier & Herod,
P.C.  He is represented by:

     Robert W. Miller, Esq.
     Manier & Herod, P.C.
     1201 Demonbreun Street, Suite 900
     Nashville, TN 37203
     E-mail: rmiller@manierherod.com

CNB Bank & Trust, N.A., as secured lender, is represented by:

     Steven M. Wallace, Esq.
     6 Ginger Creek Village Drive
     Glen Carbon, IL 62034
     Tel: (618) 692-5512
     Fax: (888) 519-6101
     E-mail: steve@silverlakelaw.com

Nike USA, Inc., as secured lender, is represented by:

     Mary E. Augustine, Esq.
     27 Crimson King Dr.
     Bear, DE 19701
     Tel: (302) 836-8877
     Fax: (302) 836-8787
     E-mail: meg@saccullolegal.com



FRANSCESA'S HOLDINGS: Court Okays Bankruptcy Estate Wind-Down Plan
------------------------------------------------------------------
Alex Wolf of Bloomberg News reports that Francesca's Holdings
Corp.'s bankruptcy estate intends to wind down and provide up to
30% recoveries to general unsecured creditors under a
court-approved liquidation plan.

Francesca's, which sold its boutique women's clothing chain for $18
million to an affiliate of TerraMar Capital LLC and Tiger Capital
LLC earlier this year, plans to pay its lenders and priority
claimholders in full.

The Chapter 11 case and competitive sale process were "incredibly
successful," Sarah Carnes of Cole Schotz PC, who represents the
unsecured creditors committee, said at a hearing Tuesday, July 20,
2021.

                        About FHC Holdings

Francesca's Holdings and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
20-13076) on Dec. 3, 2020. Francesca's Holdings had total assets of
$264.7 million and total liabilities of $290.5 million as of Nov.
1, 2020.  

Judge Brendan Linehan Shannon oversees the cases.  

On May 17, 2021, the Bankruptcy Court authorized the Debtors to
change their corporate names to:

  Old Company Name                   Case No.  New Company Name
  ----------------                   --------  ----------------
Francesca's Holdings Corporation   20-13076  FHC Holdings Corp.
Francesca's LLC                    20-13077  FHC LLC
Francesca's Collections, Inc.      20-13078  FHC Collections Inc.
Francesca's Services Corporation   20-13079  FHC Services Corp.

The Debtors tapped O'Melveny & Myers LLP and Richards, Layton &
Finger P.A. as legal counsel; FTI Capital Advisors LLC as financial
advisor and investment banker; A&G Realty Partners as real estate
advisor; and KPMG LLP as tax and accounting advisor. Bankruptcy
Management Solutions Inc. is the notice, claims and balloting
agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors in the Debtors' cases.
Cole Schotz P.C. and Province, LLC serve as the committee's legal
counsel and financial advisor, respectively.





FRONTIER COMMUNICATIONS: Touted by Cowen for Fiber Expansion
------------------------------------------------------------
Will Daley of Bloomberg Law reports that Cowen analyst Gregory
Williams initiated coverage on Frontier Communications (NASDAQ:
FYBR) with a buy-equivalent rating, saying the telecommunications
company's focus on fiber expansion comes at an opportune time.
Shares rose as much as 2.9% as a result.

In April 2021, the company exited Chapter 11 with a strategy of
building on the fiber expansion plan that was launched during the
restructuring.  Frontier emerges from bankruptcy with a focus on a
long-term fiber to the home buildout.

The timing is "serendipitous" amid an upcycle in fiber-to-the-home
connections, Williams said.

                     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.d the full article log in


GIRARDI & KEESE: Ex-Lawyers Lost Bid in Tossing Missing Money Suit
------------------------------------------------------------------
Holly Barker of Bloomberg Law reports that former Girardi Keese
attorneys David Lira and Keith Griffin lost their bids to dismiss a
lawsuit brought by plaintiffs' firm Edelson PC over allegedly
embezzled Boeing settlement funds, after the U.S. District Court
for the Northern District of Illinois rejected their challenges to
its jurisdiction.

But Edelson's claims -- as far the firm asserted them -- on behalf
of the firms' former shared clients, who are family members of
people who died aboard Lion Air Flight 610 when it crashed in 2018,
were dismissed.

Edelson's complaint sought to recover its fees and to locate and
secure the remainder of the missing settlement funds.

                       About Girardi & Keese

Girardi and Keese or Girardi & Keese was a Los Angeles-based law
firm founded in 1965 by lawyers Thomas Girardi and Robert Keese. It
served clients in California in a variety of legal areas. It was
known for representing plaintiffs against major corporations.

An involuntary Chapter 7 petition (Bankr. C.D. Cal. Case No.
20-21022) was filed in December 2020 against GIRARDI KEESE by
alleged creditors Jill O'Callahan, Robert M. Keese, John Abassian,
Erika Saldana, Virginia Antonio, and Kimberly Archie.

The petitioners' attorneys:

         Andrew Goodman
         Goodman Law Offices, Apc
         Tel: 818-802-5044
         E-mail: agoodman@andyglaw.com

Elissa D. Miller, a member of the firm SulmeyerKupetz, has been
appointed as Chapter 7 trustee. be reached at:

The Chapter 7 trustee can be reached at:

         Elissa D. Miller
         333 South Grand Ave., Suite 3400
         Los Angeles, California 90071-1406
         Telephone: (213) 626-2311
         Facsimile: (213) 629-4520
         E-mail: emiller@sulmeyerlaw.com


GRUDEN ACQUISITION: Moody's Withdraws B3 CFR on Debt Redemption
---------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings of Gruden
Acquisition, Inc including the company's B3 corporate family
rating, B3-PD probability of default rating, B3 senior secured 1st
lien bank credit facility, Caa2 senior secured 2nd lien term loan
rating and negative outlook following the full redemption of its
senior secured facilities.

The following ratings/assessments are affected by the action:

Ratings Withdrawn:

Issuer: Gruden Acquisition, Inc.

Corporate Family Rating, Withdrawn, previously B3

Probability of Default Rating, Withdrawn, previously B3-PD

Senior Secured 1st Lien Bank Credit Facility, Withdrawn,
previously B3 (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Withdrawn,
previously Caa2 (LGD5)

Outlook Actions:

Issuer: Gruden Acquisition, Inc.

Outlook, Changed To Rating Withdrawn From Negative

RATINGS RATIONALE

Moody's has withdrawn all of Gruden Acquisition, Inc.'s ratings
following the company's complete redemption of all its outstanding
first lien credit facility at over $500 million and $120 million
second lien term loan.

Gruden Acquisition, Inc., the parent company of Boasso Global, is
based in Tampa, Florida and is a full service ISO tank services
provider, offering transportation, storage, cleaning & heating,
maintenance & repair handling. Gruden is owned by Apax Partners.
Revenue for the twelve months ended December 31, 2020 was
approximately $300 million.


GRUPO AEROMEXICO: Negotiating With New Investors
------------------------------------------------
Riviera Maya News reports that Aeromexico already has Delta's 49
percent stake in its capital stock. Now they hope for a
"substantial" and long-term investment from new investors.

Aeromexico reported the interest of a group of Mexican shareholders
and businessmen who intend to participate in the new capital that
will be issued by Aeromdexico as part of its restructuring plan
under US Chapter 11, for which preliminary talks have been held
with creditors and potential investors.

"It is expected to be a substantial and long-term investment in
full compliance with applicable laws in Mexico regarding foreign
investment," the airline said in a statement sent to the Mexican
Stock Exchange (BMV).

Aeromexico already has foreign investors, as the US company Delta
has a 49 percent stake in its capital stock, the limit allowed by
the Foreign Investment Law for regular national air transport.

Although the restructuring under Chapter 11 opens up new
opportunities for the airline's creditors to convert their debt
into shares, as is the case with the Apollo Global Management fund,
Delta has entered into making some commitments such as the case of
$185 million USD of the guaranteed preferential financing granted
to Aeromexico.

In addition to Delta, to date, businessmen Eduardo Tricio Haro,
José Antonio Tricio Haro and Valentín Diez Morodo are holders of
between 1 percent and 10 percent of the company's outstanding
shares, according to the BMV.

"To date, Aeromexico is not aware that any agreement has been
entered into and, in due course, it will report on the conclusion
of any agreement that may be formalized."

Grupo Aeromexico reported that a group of Mexican shareholders and
businessmen seeks to participate in a long-term and controlling
investment of new capital that the company will issue as part of
its restructuring plan.

"It is expected to be a substantial investment … in full
compliance with applicable laws in Mexico regarding foreign
investment," the airline said in their BMV statement.

Aeromexico has been in a restructuring process for a year under
Chapter 11 of the US bankruptcy law.

                        About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) --
https://www.aeromexico.com/ -- is a holding company whose
subsidiaries are engaged in commercial aviation in Mexico and the
promotion of passenger loyalty programs.

Aeromexico, Mexico's global airline, has its main hub at Terminal 2
at the Mexico City International Airport. Its destinations network
features the United States, Canada, Central America, South America,
Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020. In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

Timothy Graulich, Esq., of Davis Polk and Wardell LLP, serves as
counsel to the Debtors.


GVS TEXAS: Seeks to Employ Sidley Austin as Bankruptcy Counsel
--------------------------------------------------------------
GVS Texas Holdings I, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Northern District of Texas to hire
Sidley Austin, LLP to serve as legal counsel in their Chapter 11
cases.

The firm's hourly rates are as follows:

     Thomas R. Califano, Esq.           $1,450 per hour
     Duston K. McFaul, Esq.             $1,350 per hour
     Charles M. Persons, Esq.           $1,125 per hour
     Jeri Leigh Miller, Esq.            $930 per hour
     Andres Barajas, Esq.               $885 per hour
     Maegan Quejada, Esq.               $885 per hour
     Juliana L. Hoffman, Esq.           $815 per hour

The Debtor paid $500,000 to the law firm as a retainer fee.

Thomas Califano, Esq., a partner at Sidley Austin, 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:

     Thomas R. Califano, Esq.
     Andres Barajas, Esq.
     Sidley Austin LLP
     787 Seventh Avenue
     New York, NY 10019
     Tel.: (212) 839-5300
     Fax: (212) 839-5599
     Email: tom.califano@sidley.com
            andres.barajas@sidley.com

     -- and --

     Duston McFaul, Esq.
     Charles M. Persons, Esq.
     Maegan Quejada, Esq.
     Jeri Leigh Miller, Esq.
     Juliana L. Hoffman, Esq.
     2021 McKinney Ave, Suite 2000
     Dallas, TX 75201
     Tel.: (214) 981-3300
     Fax: (214) 981-3400
     Email: cpersons@sidley.com
            dmcfaul@sidley.com
            mquejada@sidley.com
            jeri.miller@sidley.com
            jhoffman@sidley.com

                          About GVS Texas

GVS Texas Holdings I, LLC and its affiliates are primarily engaged
in renting and leasing a wide array of properties functioning
principally as self-storage and parking facilities in 64 locations
in Texas, Colorado, Illinois, Indiana, Mississippi, Missouri,
Nevada, New York, Ohio, and Tennessee. Six of the properties are in
the Dallas-Fort Worth Metroplex, with an additional 28 located
elsewhere in Texas.  The properties are managed by Great Value
Storage, LLC.

GVS Texas Holdings I and its affiliates sought Chapter 11
protection (Bankr. N. D. Texas Lead Case No. 21-31121) on June 17,
2021.  The parent entity, GVS Portfolio I C, LLC, filed a voluntary
Chapter 11 petition (Bankr. N. D. Texas Case No. 21-31164) on June
23, 2021.  GVS Portfolio's case is jointly administered with that
of GVS Texas Holdings I.  Judge Michelle V. Larson oversees the
cases.

In its petition, GVS Texas Holdings I listed assets and liabilities
of $100 million to $500 million each.

The Debtors tapped Thomas R. Califano, Esq., at Sidley Austin LLP
as bankruptcy counsel.


HILLIARD CHAPEL: May Refinance Loan or Sell Assets to Settle Claims
-------------------------------------------------------------------
Hilliard Chapel AME Zion Church filed with the Bankruptcy Court an
Amended Plan and Disclosure Statement dated July 16, 2021.

The Plan requires monthly payments on the single Class 1 secured
claim for $3,370 and on the Class 2 general unsecured claims for
$233, a total of $3,603.  

The Debtor's revenue from tithes and offerings for the first seven
months of the Chapter 11 case was $34,841, an average of $5,806 per
month.  Revenue going forward will increase due to the $1,000 per
month to be received from the new congregation for four hours use
of the Church Building.  "In person" services should result in at
least an increase of $2,000 per month in tithes and offerings.
Excluding any income from the Educational Building, the Debtor
anticipates monthly revenue of at least $8,806.  For the short term
and over the remainder of the Plan, the Debtor will be able to
generate sufficient revenue to meet its expenses and make the
payments required under the Plan.

As of July 16, 2021, the Debtor's assets aggregating $1,364,926
consist of:

  Cash in banks                          $2,526

  Personal property
   (office, music, etc.)                $12,400

  Church Building                    $1,000,000  

  Educational Building                 $250,000

  Parking Lot                          $100,000
   
The Debtor's schedules of assets and liabilities showed liabilities
of $668,192, which did not did not reflect approximately $100,000
of default interest, late charges, and fees claimed to be due by
Bernard Bronson in his proof of claim.  

The Debtor's liabilities, based on a compilation of the schedules,
the two proofs of claim filed by creditors, and estimated
administrative claims, and adding 16% per annum interest on the
Bronson secured from the Petition Date to July 16, 2021, are:

  Unclassified administrative claims     $7,500

  Class 1: Bernard Bronson             $833,971

  Class 2: General unsecured claims     $12,955

The payment of unclassified administrative claims will be paid from
cash on hand and over time, as agreed by the holders of such
claims.  The payments on the Class 1 and 2 claims will be paid from
tithes and offerings received by the Debtor and from rental income
derived from its real property.  The balloon payment on the Class 1
secured claim will be made by refinancing or selling one or more of
the following: the Church Building, the Educational Building, and
the Parking Lot.

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

Counsel for the Debtor:

   David C. Johnston, Esq.
   Attorney at Law
   1600 G Street, Suite 102
   Modesto, CA 95354
   Telephone: (209) 579-1150
   Facsimile: (209) 900-9199
   E-mail: david@johnstonbusinesslaw.com

               About Hilliard Chapel AME Zion Church

Hilliard Chapel AME Zion Church, based in Stockton, CA, filed a
Chapter 11 petition (Bankr. E.D. Cal. Case No. 20-25294) on Nov.
23, 2020.  In the petition signed by Lamont D. Brown, pastor, the
Debtor was estimated to have $1 million to $10 million in assets
and $500,000 to $1 million in liabilities.  The Hon. Christopher M.
Klein presides over the case.  David C. Johnston, Esq., serves as
bankruptcy counsel.



IDEAL CARE: Case Summary & 6 Unsecured Creditors
------------------------------------------------
Debtor: Ideal Care 4 U, Inc.
        176-28 Kildare Road
        Jamaica, NY 11432

Business Description: Ideal Care 4 U, Inc. is primarily engaged in

                      renting and leasing real estate properties.

Chapter 11 Petition Date: July 21, 2021

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 21-41869

Judge: Hon. Jil Mazer-Marino

Debtor's Counsel: Alla Kachan, Esq.
                  LAW OFFICES OF ALLA KACHAN, P.C.
                  2799 Coney Island Avenue
                  Suite 202
                  Brooklyn, NY 11235
                  Tel: (718) 513-3145
                  Fax: (347) 342-3156
                  E-mail: alla@kachanlaw.com

Total Assets: $2,632,800

Total Liabilities: $190,252

The petition was signed by Olga Palankerina as president.

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

https://www.pacermonitor.com/view/UXMVOMI/Ideal_Care_4_U_Inc__nyebke-21-41869__0001.0.pdf?mcid=tGE4TAMA


JOHNSON & JOHSON: Chooses Jones Day Handle Talc Unit's Bankruptcy
-----------------------------------------------------------------
Johnson & Johnson has chosen law firm Jones Day to advise it as it
explores placing a subsidiary in bankruptcy to settle thousands of
personal injury claims linking talcum-based baby powder to cancer,
Dow Jones reports, citing unidentified people familiar with the
matter.

Jones Day has been advising J&J on options for addressing
talc-related claims, including a possible bankruptcy filing by a
subsidiary containing those legal liabilities, the people said.

J&J could move talc-related liabilities into a new unit formed
specifically for bankruptcy, protecting income-producing assets.

On Monday, Reuters reported that J&J was considering putting
liabilities related to the talc cases into a separate unit that
would then file for bankruptcy.  The lawsuits claim that J&J baby
powder and other talcum products contained asbestos that caused
cancer.

                     About Johnson & Johnson Consumer

Based in Skillman, New Jersey, Johnson & Johnson Consumer Companies
Inc. engages in the research and development of products.  The
Company provides products for newborns, babies, toddlers, and
mothers, including cleansers, skin care, moisturizers, hair care,
diaper care, sun protection, and nursing products.









JS&H PROPERTIES: Taps Bose McKinney & Evans as Bankruptcy Counsel
-----------------------------------------------------------------
JS&H Properties, LCC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Indiana to hire Bose McKinney & Evans,
LLP to serve as legal counsel in its Chapter 11 case.

The firm's hourly rates are as follows:

     Paul D. Vink, Esq.                 $510 per hour
     David J. Jurkiewicz, Esq.          $440 per hour
     Melissa A. Wakefield, Paralegal    $205 per hour

The Debtor paid $5,000 to the law firm as a retainer fee.

David Jurkiewicz, Esq., a partner at Bose McKinney & Evans,
disclosed in a court filing that he is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     David J. Jurkiewicz, Esq.
     Bose McKinney & Evans, LLP
     Monument Circle, Suite 2700
     Indianapolis, IN 46204
     Tel.: (317) 684-5000
     Fax: (317) 684-5173
     Email: djurkiewicz@boselaw.com

                       About JS&H Properties

JS&H Properties, LCC filed a Chapter 11 petition (Bankr. S.D. Ind.
Case No. 21-02948) on June 25, 2021.  At the time of the filing,
the Debtor had between $1 million and $10 million in both assets
and liabilities. James Siegel, a member and manager, signed the
petition.  Judge Jeffrey J. Graham oversees the case.  Bose
McKinney & Evans, LLP serves as the Debtor's legal counsel.


JUMP FINANCIAL: Moody's Gives Ba1 CFR & Rates First Lien Loan Ba2
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 senior secured first lien
term loan rating to Jump Financial, LLC (Jump Financial). Moody's
said Jump Financial expects to borrow $400 million and will use the
net proceeds to repay existing loans and for incremental trading
capital and general corporate purposes. Moody's also assigned a Ba1
Corporate Family Rating to Jump Financial. The rating outlook for
Jump Financial is stable.

Assignments:

Issuer: Jump Financial, LLC

Corporate Family Rating, Assigned Ba1

Senior Secured Bank Credit Facility, Assigned Ba2

Outlook Actions:

Issuer: Jump Financial, LLC

Outlook, Assigned Stable

RATINGS RATIONALE

Moody's said the Ba1 CFR reflects Jump Financial's strong
profitable track record, liquid balance sheet and healthy levels of
capital. The rating also reflects the sustained oversight from a
highly engaged ownership and leadership team, and an independent
risk function, as well as continual investments to strengthen and
augment the firm's trading infrastructure and intellectual capital.
Moody's said the rating incorporates the inherently high level of
operational and market risk in Jump Financial's relatively narrow
principal trading and market making activities, that could result
in rapid and severe losses and a deterioration in liquidity and
funding in the event of a severe risk management failure. Such
operational and market risks have historically been successfully
mitigated by Jump Financial's relatively modest and short-lived
individual trade positions in liquid securities, enveloped by a
multi-layered risk monitoring, testing, segregation, limits and
controls system.

With continued strong growth, however, there is a risk that Jump
Financial may face increased challenges in maintaining its
high-quality employee base and culture, and its effective controls
and monitoring oversight, said Moody's. In addition, the rating
agency noted that Jump Financial's gradual expansion into more
complex and longer duration trading strategies could pose greater
risks for the firm's creditors if not properly managed, with these
greater risks including the possibility of increased earnings
volatility and a reduction in the overall liquidity of the firm's
trading portfolio.

Jump Financial has historically relied primarily on retaining a
significant amount of capital as well as receiving occasional
contributions from its members to fund increases in its trading
portfolio. As a result, even with the new seven-year term loan the
firm will still show only a modest amount of leverage on its
balance sheet, the rating agency noted.

Moody's said Jump Financial's Ba2 senior secured term loan was
issued by Jump Financial's holding company, and accordingly this
rating is one notch below the firm's Ba1 CFR because obligations at
the holding company are structurally inferior to those of Jump
Financial's operating companies, where the preponderance of the
group's liabilities reside.

The stable outlook for Jump Financial is based on Moody's
expectation that the firm will continue to generate strong profits
and cash flows, maintain its strong liquidity profile, and that its
leaders will continue to place a high emphasis on maintaining an
effective risk management and controls framework. The stable
outlook also reflects Moody's expectation that the increase in debt
will not result in any significant deterioration in the firm's
leverage, risk appetite or liquidity profile.

Jump Financial is a quantitative trading firm specialized in using
internally-developed automated trading algorithms to predict and
profit from short-term price movement and relative value strategies
in futures, options, currencies, and securities in over 25
countries. Jump Financial is headquartered in Chicago and has over
900 employees principally located in Chicago, New York, London,
Amsterdam and Singapore.

Governance is highly relevant for Jump Financial, as it is to all
firms that participate in the financial services industry.
Corporate governance weaknesses can lead to a deterioration in a
company's credit quality, while governance strengths can benefit
its credit profile. Governance risks are largely internal rather
than externally driven. For Jump Financial, Moody's believes the
absence of independent board members and the dominance of the
founding members pose heightened risks for creditors, although the
company's deliberative partnership-like culture, with key
executives maintaining a high level of involvement in control and
management oversight, helps to at least partially offset these
risks. Nonetheless, corporate governance remains a key credit
consideration and requires ongoing monitoring.

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

Jump Financial's ratings could be upgraded if it were able to
sustainably improve the quality and diversity of its profitability
and cash flows from the development of substantial and lower-risk
ancillary business activities.

Jump Financial's ratings could be downgraded if it were to suffer
from a significant reduction in profitability, if it experienced a
substantial trading loss or risk control failure, if there were a
significant reduction in retained capital or liquidity, or if the
firm suffered from any adverse changes to corporate culture or
management quality.

The principal methodology used in these ratings was Securities
Industry Market Makers Methodology published in November 2019.


JUMP FINANCIAL: S&P Assigns 'BB-' ICR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings assigned its 'BB-' issuer credit rating to Jump
Financial LLC. The outlook is stable. S&P also assigned a 'BB-'
issue rating to Jump's planned $400 million senior secured term
loan B.

S&P said, "Our ratings on Jump Financial LLC reflect the company's
adequate capitalization and profitable market-making and principal
trading business, which has strong market shares in several major
asset classes. We view negatively the reliance on short-term prime
brokerage funding, the lack of contingent liquidity sources, and
the significant operational risk linked to the extensive use of
algorithms for trading."

Founded in 1999, Jump is a nonoperating holding company for
regulated broker-dealer and nonregulated subsidiaries in the U.S.,
Asia-Pacific, and Europe. It is a global market-maker and an
electronic trading firm operating across a variety of markets,
including futures, equities, foreign exchange, treasuries, and
options. Jump is majority owned by its two founders, William
DiSomma and Paul Gurinas. The two founders also have a majority
ownership in Jump Capital (a venture capital firm that invests in
start-ups focused on fintech, information technology
infrastructure, digital media, and enterprise software) and an
entity engaged in trading cryptocurrencies. However, these
affiliated entities are separately managed and not consolidated
into Jump Financial, though they may be parties to intercompany
loans and service agreements.

Jump has a leading market share in large futures exchanges such as
the CME, Eurex, Korea Exchange, Singapore Exchange, Hong Kong
Exchange, and Osaka Exchange. It trades futures across a wide
variety of asset classes, including agriculture, energy, equity
index, foreign exchange, interest rates, and metals. Jump uses
algorithms to trade a large volume of securities relative to its
capital, including low-latency intraday market-making strategies
and longer-duration relative value strategies. While the firm's net
trading income is well diversified by geography, trading strategy,
and asset class, the firm's reliance on volatile principal trading
revenue weighs on our assessment of its business position.

The stable outlook reflects S&P's expectation that Jump Financial
will maintain good operating performance, capitalization, and
liquidity as it continues to expand its trading operations and
risk. Specifically, S&P expects the firm will maintain a RAC ratio
above 10%.

Over the next 12 months, S&P could lower the ratings if:

-- S&P expects the RAC ratio to decline below 10% on a sustained
basis, either because of large member distributions or increased
exposures to unconsolidated affiliates; or

-- The ratio of margin required to be posted to prime brokers to
total net trading capital rises materially from current levels (70%
as of March 31, 2021, pro forma for the term loan issuance); or

-- Earnings or liquidity at unregulated entities falls
dramatically.

Over the same time horizon, S&P could raise its ratings if S&P
expects:

-- Jump Financial to maintain its RAC ratio comfortably above 15%
on a sustained basis; or

-- The margin required to be posted to prime brokers to net
trading capital to be consistently below 50%.



KATERRA INC: Court Okays $35 Million SoftBank Bankruptcy Loan
-------------------------------------------------------------
Soma Biswas of The Wall Street Journal reports that Katerra Inc.
won court approval for a $35 million bankruptcy loan from SoftBank
Group Corp., the construction startup's biggest financial backer.
At a virtual hearing late Monday, July 19, 2021, lawyers for
Katerra and SoftBank reached a compromise with lawyers for
unsecured creditors who had been urging the company to seek
alternative sources of financing.

                         About Katerra Inc.

Based in Menlo Park, Calif., Katerra Inc. is a Japanese-funded,
American technology-driven offsite construction company. Katerra
was founded in 2015 by Michael Marks, former chief executive
officer of Flextronics and former Tesla interim CEO, along with
Fritz Wolff, the executive chairman of The Wolff Co.  It offers
technology-driven design, manufacturing, and assembly solution for
bathroom pods, door and window, furniture, and modular utility
systems.

Katerra and its affiliates sought Chapter 11 protection (Bankr.
S.D. Texas Lead Case No. 21-31861) on June 6, 2021.  In its
petition, Katerra disclosed assets of between $500 million and $1
billion and liabilities of between $1 billion and $10 billion.
Judge David R. Jones oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP and Jackson Walker, LLP as
bankruptcy counsel; Houlihan Lokey Capital, Inc. as investment
banker; Alvarez & Marsal North America, LLC as financial and
restructuring advisor; and KPMG, LLP as tax consultant. Prime Clerk
LLC is the claims and noticing agent.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on June 22,
2021. The Committee is represented by Fox Rothschild, LLP.




LIBERTY POWER: Affiliates Tap Berkeley as Restructuring Advisor
---------------------------------------------------------------
LPT, LLC and two other affiliates of Liberty Power Holdings, LLC
seek approval from the U.S. Bankruptcy Court for the Southern
District of Florida to hire Berkeley Research Group, LLC and
appoint its managing director, Robert Butler, as chief
restructuring officer.

Berkeley Research Group's services include:

     (a) developing and implementing a chosen course of action to
preserve asset value and maximize recoveries to stakeholders,
subject to the approval of the Debtors' Board of Directors;

     (b) overseeing the Debtors' activities in consultation with
other advisors and the management team to effectuate the selected
course of action;

     (c) assisting the Debtors in preparing and analyzing cash flow
(weekly and monthly) and financial projections related to liquidity
and borrowing needs, including related budget to actual variance
analysis;

     (d) assisting the Debtors with contingency planning and the
assessment of strategic alternatives including a possible Chapter
11 filing;

     (e) assisting as requested by management in connection with
the Debtors' development of their business plan and other related
forecasts required by creditors;

     (f) assisting in data collection relating to potential
transactions with financial and strategic buyers;

     (g) assisting the Debtors and their bankruptcy professionals
in developing, negotiating and executing Chapter 11 strategy,
Section 363 sales or other potential sales of the Debtors' assets;

     (h) providing information deemed by the CRO to be reasonable
and relevant to stakeholders and consulting with key constituents,
as necessary.

     (i) offering testimony before the court and participating in
depositions;

     (j) assisting in the preparation of reports to the Board of
Directors regarding the status of implementation of restructuring
initiatives; and

     (k) other general business consulting services.

The firm's hourly rates are as follows:

     Managing Director      $860 - $1,150 per hour
     Director               $600 - $895 per hour
     Professional Staff     $250 - $770 per hour
     Support Staff          $125 - $275 per hour

The Debtors have agreed to initially pay $300,000 to the firm.

Mr. Butler 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:

     Robert Butler
     Berkeley Research Group, LLC
     1111 Brickell Avenue, Suite 2050
     Miami, FL 33131
     Tel.: 305.548.8546
     Fax: 305.913.4101
     Email: bbutler@thinkbrg.com
     
                        About Liberty Power

Established in 2001 and headquartered in Fort Lauderdale, Fla.,
Liberty Power Holdings, LLC is one of the largest and
longest-tenured owner-operated retail electricity provider in the
United Stats. It provides large and small businesses, government
agencies and residential customers with competitively-priced
electricity, sustainability solutions and exceptional customer
service.

Liberty Power filed a voluntary petition for Chapter 11
reorganization (Bankr. S.D. Fla. Case No. 21-13797) on April 20,
2021.  On June 4, 2021, LPT, LLC, Liberty Power Maryland, LLC and
Liberty Power District of Columbia, LLC sought Chapter 11
protection.  The cases are jointly administered under Case No.
21-13797 and have been assigned to Judge Scott M. Grossman.

At the time of the filing, Liberty Power disclosed total assets of
up to $100 million and total liabilities of up to $500 million.

The Debtors tapped Genovese Joblove & Battista, P.A. as legal
counsel and Berkeley Research Group, LLC as restructuring advisor.
Robert Butler, managing director at Berkeley, serves as the
Debtors' chief restructuring officer.  Stretto is the claims and
noticing agent.


LSB INDUSTRIES: Moody's Puts Caa1 CFR Under Review for Upgrade
--------------------------------------------------------------
Moody's Investors Service placed the Caa1 corporate family rating,
the Caa1-PD probability rating of default rating of LSB Industries,
Inc. and the Caa1 senior secured instrument rating under review for
upgrade following the company's announcement that it reached an
agreement to convert its redeemable preferred shares into common
stock. Moody's also upgraded the speculative grade liquidity rating
to SGL-2 from SGL-3.

"Moody's always considered the preferred stock with a 14.5%
dividend a constraining factor of LSB's credit profile," said
Anastasija Johnson, VP-Senior Credit Officer at Moody's. "The
transaction, if approved by the shareholders, will improve the
capital structure, but will also result in a concentrated
ownership, which may increase governance risks."

Upgrades:

Issuer: LSB Industries, Inc.

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

On Review for Upgrade:

Issuer: LSB Industries, Inc.

Corporate Family Rating, Placed on Review for Upgrade, currently
Caa1

Probability of Default Rating, Placed on Review for Upgrade,
currently Caa1-PD

GTD. Senior Secured Regular Bond/Debenture, Placed on Review for
Upgrade, currently Caa1 (LGD4)

Outlook Actions:

Issuer: LSB Industries, Inc.

Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The placement of LSB Industries, Inc. 's ratings under review for
upgrade reflects the expected improvement of the issuer's capital
structure if the proposed conversion of the redeemable preferred
stock held by Eldridge Industries into common stock is approved by
the shareholders. On July 20, LSB Industries, Inc. said it signed a
definitive agreement with LSB Funding LLC, an affiliate of Eldridge
Industries, to exchange Series E-1 and Series F-1 held by Eldridge
for shares of LSB common stock. Under the terms of the agreement,
LSB would exchange approximately $300 million of preferred stock
held by Eldridge into an equivalent value of LSB common stock based
on an exchange price of $6.16, which is equal to the 30-day volume
weighted average price as of the date of the Exchange Agreement. In
connection with the transaction, existing LSB common stockholders
will receive a special dividend in the form of 0.30 shares of LSB
common stock for every share owned as of the record date.

Moody's has always considered the redeemable preferred stock with a
14.5% dividend, increasing to 15% in 2022 and 16% in 2023, as a
constraining factor of the issuer's credit profile. Although the
dividend was accruing without a direct immediate cash impact, the
company has not generated enough cash and may not have generated
enough in the future if Eldridge Industries chose to redeem it on
or after October 25, 2023. Moody's viewed the preferred stock as a
drain on future cash or a potential increase in debt if the company
needed to redeem it, constraining the company's growth
opportunities. The proposed transaction, if approved by the
shareholders, will improve the capital structure, but will also
result in a concentrated ownership, which may increase governance
risks. Pro forma for the conversion, Eldridge Industries, a private
equity firm, will increase its holding of LSB Industries, Inc to
about 60% from 13%. The transaction needs the majority vote of the
non-interested parties to proceed. LSB said it expects to file a
preliminary proxy for a Special Meeting of Stockholders and deliver
additional information related to the special meeting to
stockholders within the next few weeks. Results of the stockholder
vote will be tabulated at the Special Meeting of Stockholders
expected to be held in the third quarter of 2021.

If the transaction is approved by shareholders, the rating would be
upgraded by one notch. Over the longer term, the rating will be
determined by the level of debt that management wants to keep on
the balance sheet, its operational track record and how the company
will fund future growth. Current commodity prices should enable LSB
to generate a meaningful level of free cash flow in 2021, providing
greater flexibility in managing its balance sheet.

Despite anticipated improvement in the capital structure and credit
metrics in 2021, LSB's credit profile is constrained by its scale,
limited operational diversity and inherent volatility in
performance and credit metrics because of its exposure to volatile
commodity nitrogen prices. In trough conditions, the company is not
expected to be free cash flow generative even after taking into
account the new nitric acid business, while in mid cycle conditions
it is expected to generate cash. In addition, the company's growth
is constrained by current capacity and Moody's expects management
to pursue acquisitions as part of its growth strategy, which may
result in additional debt or stressed credit metrics.

The SGL-2 reflects a good liquidity position over the next 12
months, supported by cash on hand, revolver availability and
projected free cash flow generation. The company had $5 million of
cash on hand as of March 31, 2021 pro forma for transaction fees
and no borrowings under the revolver. The company had $41.8 million
availability under its $65 million asset-based revolver, which is
subject to borrowing base limitations (typically ranging between
$45-$50 million). The revolver expires 90 days before $435 million
notes mature on May 1, 2023 or on February 26, 2024, if the notes
are repaid or refinanced. The company is subject to 1x fixed charge
covenant if availability falls below 10% of the total commitment.
The company will be able to meet the covenant in a rising pricing
environment over the next 12 months. All assets are encumbered by
the revolver, senior secured notes and other debt, leaving no
sources of alternative liquidity.

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

Factors will be updated following the conclusion of the review.

LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, is
a producer of commodity chemicals that are derived from ammonia
(nitrogen fertilizers, nitric acid and ammonium nitrate). LSB owns
and operates three facilities in El Dorado, Arkansas, Cherokee,
Alabama and Pryor, Oklahoma. The company also operates Baytown,
Texas, facility on a contractual basis for Coverstro AG. The
company generated sales of $366 million in the twelve months ended
March 31, 2021.

The principal methodology used in these ratings was Chemical
Industry published in March 2019.


MALLINCKRODT PLC: Shareholders' Row Set to be Aired in Irish Court
------------------------------------------------------------------
Joe Brennan of The Irish Times reports that Mallinckrodt bankruptcy
row with shareholders is set to be aired in Irish court. Dissident
shareholders claim suppression of rights as US drugmaker is
restructured.

A stand-off between drugmaker Mallinckrodt, the Dublin-based but
US-run drugmaker, and a small group of dissident shareholders,
claiming their rights are being suppressed as the company goes
through a restructuring in bankruptcy, is on track to be aired
before the High Court in Dublin later this 2021.

While Mallinckrodt opted last October to file for bankruptcy in
Delaware as the company, with $5.3 billion (EUR4.5 billion) in
long-term debt, was overwhelmed by lawsuits accusing it of
deceptively marketing opioids, the completion of the overhaul will
require the filing of an examinership case in the Republic.

The company is pursuing a US court-supervised reorganisation that
would set up a $1.6 billion trust to resolve opioid-related claims
with states, local governments and private individuals. The plan,
supported by certain creditors and subject to broader votes by
early September, would see unsecured bondholders take control of
the company, some $1.3 billion of debt being eliminated, and
general unsecured creditors split $150 million in cash.

New York-based asset management firm Buxton Helmsley, which is
leading a group of investors that own about 5.6 percent of
Mallinckrodt, has claimed that it has been thwarted by Mallinckrodt
and the Delaware court as it sought a seat at the negotiating table
on the drugmaker's restructuring.

                            Objection

Mallinckrodt successfully filed an objection in late 2020 against
the formation of an official committee for existing shareholders,
and also secured an order from the Delaware court in April which
effectively bans Buxton Helmsley, led by Alexander Parker, from
taking a number of actions. These include using its shares to call
an extraordinary general meeting, put forward resolutions at the
company’s annual general meeting in Dublin on August 13th, or
taking legal action without the US court’s approval.

Mr Parker has sent a number of letters to the board and other
parties since the order in April 2021, making a series of
allegations, including one of shareholder suppression, and saying
that he should be entitled to take action through the High Court in
Dublin under Irish companies law.

Mr. Parker said in a letter to Mallinckrodt's board, dated May
20th, that while he "will abide by my gag order not to call a
shareholder meeting, conduct a proxy contest, or anything else you
have muzzled Buxton from doing during the US reorganisation
proceedings." he intends to bring his issues before the High Court
in Dublin later this 2021, when the drugmaker files for
examinership. He repeated the assertion in another letter, dated
July 7. 2021, also seen by The Irish Times.

                            Equity

Buxton Helmsley alleges that the interests of top executive and
directors of Mallinckrodt are not aligned with shareholders in
protecting equity, as none of them currently holds enough shares to
meet stock retention requirements. He claims that the planned
allocation of a 10 per cent stake to management following the
restructuring represents a conflict of interest. Still, the make-up
of the management team post-restructuring has not yet been
confirmed.

A spokesman for Mallinckrodt said that the Delaware court has
already determined that the company is insolvent, "such that
existing shareholders cannot expect any recovery."

"The proposed reorganisation plan envisages an examinership process
subject to Irish court approval, and it will be a matter for the
Irish courts to determine the appropriate orders to be made in
respect of that process," he said. "Mallinckrodt is confident its
actions comply fully with US and Irish law."

                       About Mallinckrodt 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.


MANHATTAN HOSPITALITY: HHF Files Limited Objection to Disclosures
-----------------------------------------------------------------
Holiday Hospitality Franchising, LLC (HHF) filed a limited
objection to the Disclosure Statement of Manhattan Hospitality,
Inc.  HHF is a licensor under a Holiday Inn License Agreement, with
the Debtor as licensee.

HHF disclosed that it has informed the Debtor to address the
following disclosures in the Disclosure Statement:

  * correcting references to HHF's name;

  * clarifying the status of the Debtor's Property Improvement Plan
(PIP) and HHF's extension of certain PIP deadlines to help
facilitate a successful plan of reorganization;

  * the requirement to assume any ancillary agreements to the
License Agreement; and

  * the retaining of HHF's rights with respect to the personal
guaranty by Colin Noble under the License Agreement.

HHF is filing the limited objection to ensure that the changes are
approved and incorporated in the solicitation version of the
Disclosure Statement.

A copy of the limited objection is available for free at
https://bit.ly/3rn9vM4 from PacerMonitor.com.

                   About Manhattan Hospitality

Manhattan Hospitality, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Kan. Case No. 20-41003) on Dec. 17,
2020.  At the time of filing, the Debtor disclosed up to
$10,000,000 in assets and up to $50,000,000 in liabilities.

Judge Dale L. Somers oversees the case.

Sader Law Firm represents the Debtor as counsel.

Central National Bank, as lender, is represented by Michael R.
Munson, Esq., its senior vice president and general counsel.


MARY BRICKELL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Mary Brickell Village Hotel, LLC
        1001 SW 2nd Ave.
        Miami, FL 33130

Business Description: Mary Brickell Village Hotel, LLC is part
                      of the traveler accommodation industry.

Chapter 11 Petition Date: July 21, 2021

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 21-17103

Judge: Hon. Robert A. Mark

Debtor's Counsel: Joseph A. Pack, Esq.
                  PACK LAW
                  51 NE 24th St., Suite 108
                  Miami, FL 33137
                  Tel: (305) 916-4500
                  Email: joe@packlaw.com

Debtor's
Special
Litigation
Counsel:          ZARCO EINHORN SALKOWSKI & BROTO P.A.

Total Assets: $33,965,508

Total Liabilities: $18,402,378

The petition was signed by Pedro Villar as president of Manager.

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

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/Y6JBA4I/Mary_Brickell_Village_Hotel_LLC__flsbke-21-17103__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Miami-Dade County                    Taxes             $252,098
Tax Collector
200 NW 2nd Ave
Miami, FL 33128

2. IPFS Corporation                   Insurance           $224,581
P.O. BOX 412086
Kansas City, MO 64141-2086

3. Florida Department of                Taxes              $26,565
Revenue
5050 West Tennessee St.
Tallahassee, FL 32399

4. Hotelier Linen Services              Trade              $17,138
PO Box 27316 Dept N287
Salt Lake City, UT 84127-0316

5. Waste Management of                  Trade               $5,996
Dade County
PO Box 105453
Atlanta, GA 30348

6. HD Supply Facilities                 Trade               $4,438
Maintenance Ltd
PO Box 509058
San Diego, CA 92150-9058

7. VIP Security Florida                 Trade               $3,182
2500 NW 79 Ave Suite #173
Doral, FL 33122

8. Insight Direct USA                   Trade               $2,202
C/O Morgan Chase
PO Box 731069
Dallas, Tx 75373-1069

9. AT&T                               Services              $2,121
PO Box 105262
Atlanta, GA 30348

10. Comcast                          Utilities              $2,073
PO Box 37601
Philadelphia, PA 19101-0601

11. 1st SOS Staffing, Inc.            Services              $1,382
1040 Bayview Dr Ste # 603
Ft. Lauderdale, FL 33304

12. Royal Cup, Inc.                     Trade               $1,093
PO Box 841000
Dallas, TX 75284-1000

13. Pepsi Beverage Co                   Trade                 $949
PO Box 75948
Chicago, IL 6067559

14. US Foods, Inc.                      Trade                 $827
PO Box 281838
Atlanta, GA 30384-1838

15. Otis                                Trade                 $792
PO Box 73579
Chicago, IL 60673-7579

16. De Lage Landen                    Services                $455
PO Box 41602
Philadelphia, PA 19101

17. Cintas Corporation                  Trade                 $442
PO Box 631025
Cincinnati, OH 45263-1025

18. Engineering Systems                 Trade                 $374
Technology, Inc.
2400 West 84th Street #9
Hialeah, FL 333016

19. FPL Energy Services               Utilities               $355
PO Box 25426
Miami, FL 33102-5426

20. ScentAir Technologies, Inc.         Trade                 $208
PO Box 978754
Dallas, TX 75397-8754


MATLINPATTERSON GLOBAL: Seeks Approval to Tap Restructuring Advisor
-------------------------------------------------------------------
MatlinPatterson Global Opportunities Partners II L.P. and its
affiliates seek approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire North Country Capital, LLC
and appoint Matthew Doheny as chief restructuring officer.

The firm's services include:

     (a) overseeing cash and liquidity management activities
including the preparation of financial reporting and cash flow
forecasts;

     (b) overseeing the administration and management of the
Debtors' Chapter 11 cases and assisting the Debtors in the
administration and management of their cases;

     (c) assisting the Debtors and their legal counsel in obtaining
court approval for various motions;

     (d) testifying to the extent requested by the Debtors' legal
counsel;

     (e) overseeing the preparation of any reporting required by
the Bankruptcy Code and the Office of the U.S. Trustee;
  
     (f) participating in the formulation, development, negotiation
and implementation of a Chapter 11 plan;

     (g) preparing a liquidation analysis exhibit to the disclosure
statement;

     (h) interfacing with the Debtors' constituencies, in
conjunction with the Debtors and their legal counsel, and assisting
in the preparation of reports to and negotiations with such
constituencies;

     (i) overseeing any required case wind-down activities;

     (j) overseeing and assisting the management of the pending
litigation involving the Debtors;

     (k) assisting the Debtors with respect to bankruptcy-related
claims estimation, management and reconciliation processes; and

     (l) providing other restructuring advisory services as
requested by the Debtors.

North Country Capital will be paid a monthly fee of $50,000.  The
firm received $215,000 from the Debtors for services performed
related to the cases.

Mr. Doheny disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Matthew Doheny
     North Country Capital LLC
     215 Washington Street, Suite 0006
     Watertown, NY 13601
     Tel: (315) 955-5457
     
                    About MatlinPatterson Global

MatlinPatterson Global Opportunities Partners II L.P. is a private
investment fund structured as limited partnership entity organized
in the State of Delaware.

MatlinPatterson and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No 21-11255) on July 6, 2021.  At the
time of the filing, MatlinPatterson had total assets of $100
million to $500 million and total liabilities of $10 million to $50
million.

The cases are handled by Judge David S. Jones.  

The Debtors tapped Simpson Thacher & Bartlett, LLP as bankruptcy
counsel, Schulte Roth & Zabel LLP as conflicts counsel, and North
Country Capital LLC as restructuring advisor.  Matthew Doheny of
North Country Capital serves as the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants, LLC is the claims and
noticing agent and administrative advisor.


MATLINPATTERSON GLOBAL: Seeks to Hire Altemis Capital, Appoint CFO
------------------------------------------------------------------
MatlinPatterson Global Opportunities Partners II L.P. and its
affiliates seek approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire Altemis Capital Management
and appoint Florina Klingbaum as their chief financial officer.

The firm's services include:

     (a) providing front to back accounting support for the
Debtors;

     (b) providing regulatory and compliance support for the
Debtors;

     (c) providing investor relations services to applicable
limited partners and general partners of the Debtors;

     (d) coordinating and supervising the annual audit process, tax
return preparation and K-1 issuance;

     (e) serving in an HR function, including payroll and benefit
support;

     (f) rendering service provider assessment;

     (g) streamlining processes and functions;

     (h) assisting with the Debtors' case administration, including
preparing or reviewing monthly operating reports and assisting with
the liquidation analysis and claims administration; and

     (i) providing other financial advisory services as requested
by the Debtors.

Ms. Klingbaum will be paid at an hourly rate of $200.

The Debtors paid an aggregate amount of $131,556 to Altemis Capital
for the services performed prior to the petition date.

In court papers, Ms. Klingbaum disclosed that she is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

Altemis Capital can be reached at:

     Florina Klingbaum
     Altemis Capital Management
     1056 5th Avenue, Suite 9E
     New York, NY 10028
     Tel: (917) 499-7718
     Email: Florina.Klingbaum@altemiscap.com

                    About MatlinPatterson Global

MatlinPatterson Global Opportunities Partners II L.P. is a private
investment fund structured as limited partnership entity organized
in the State of Delaware.

MatlinPatterson and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No 21-11255) on July 6, 2021.  At the
time of the filing, MatlinPatterson had total assets of $100
million to $500 million and total liabilities of $10 million to $50
million.

The cases are handled by Judge David S. Jones.  

The Debtors tapped Simpson Thacher & Bartlett, LLP as bankruptcy
counsel, Schulte Roth & Zabel LLP as conflicts counsel, and North
Country Capital LLC as restructuring advisor.  Matthew Doheny of
North Country Capital serves as the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants, LLC is the claims and
noticing agent and administrative advisor.


MATLINPATTERSON GLOBAL: Taps Kurtzman as Administrative Advisor
---------------------------------------------------------------
MatlinPatterson Global Opportunities Partners II L.P. and its
affiliates seek approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire Kurtzman Carson Consultants,
LLC as their administrative advisor.

The firm's services include:

     a. assisting in the solicitation, balloting and tabulation of
votes, preparing any related reports in support of confirmation of
a Chapter 11 plan, and processing requests for documents;

     b. preparing an official ballot certification and, if
necessary, testifying in support of the ballot tabulation results;

     c. assisting in the preparation of the Debtors' schedules of
assets and liabilities and statements of financial affairs and
gathering data in conjunction therewith;

     d. providing a confidential data room, if requested;

     e. managing and coordinating any distributions pursuant to a
Chapter 11 plan; and

     f. providing other bankruptcy administrative services.

The Debtors paid $30,000 to the firm as a retainer fee.

Albert Kass, senior executive vice president of Kurtzman, disclosed
in a court filing that his firm is "disinterested" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Albert H. Kass
     Kurtzman Carson Consultants LLC
     1290 Avenue, 9th Floor
     New York, NY 10104
     Tel.: +1 310-823-9000
     Fax: +1 310-823-9133
     Email: akass@kccllc.com
     
                    About MatlinPatterson Global

MatlinPatterson Global Opportunities Partners II L.P. is a private
investment fund structured as limited partnership entity organized
in the State of Delaware.

MatlinPatterson and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No 21-11255) on July 6, 2021.  At the
time of the filing, MatlinPatterson had total assets of $100
million to $500 million and total liabilities of $10 million to $50
million.

The cases are handled by Judge David S. Jones.  

The Debtors tapped Simpson Thacher & Bartlett, LLP as bankruptcy
counsel, Schulte Roth & Zabel LLP as conflicts counsel, and North
Country Capital LLC as restructuring advisor.  Matthew Doheny of
North Country Capital serves as the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants, LLC is the claims and
noticing agent and administrative advisor.


MATLINPATTERSON GLOBAL: Taps Schulte Roth as Conflicts Counsel
--------------------------------------------------------------
MatlinPatterson Global Opportunities Partners II L.P. and its
affiliates seek approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire Schulte Roth & Zabel, LLP as
conflicts counsel.

The firm's services include:

     (a) representing the Debtors in connection with any contested
matter or adversary proceeding in which German Efromovich or HJDK
Aeroespacial S/A are adverse parties;

     (b) representing the Debtors in the HJDK litigation; and

     (c) representing the Debtors in all other matters where any
actual or potential conflict issue may arise in respect of Simpson
Thacher & Bartlett, LLP's representation of the Debtors.

The firm's hourly rates are as follows:

     Partners                             $1,200 - $1,695 per hour
     Special counsel and associates       $460 - $1,270 per hour
     Legal assistants                     $245 - $580 per hour
     Practice support personnel           $245 - $580 per hour

Adam Harris, Esq., a partner at Schulte Roth & Zabel, 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:

     Adam C. Harris, Esq.
     Kelly Koscuiszka, Esq.
     Gayle R. Klein, Esq.
     Schulte Roth & Zabel, LLP
     919 Third Avenue
     New York, NY 10022
     Tel: (212) 756-2000
     Fax: (212) 593-5955
     Email: adam.harris@srz.com
            kelly.koscuiszka@srz.com
            gayle.klein@srz.com

                    About MatlinPatterson Global

MatlinPatterson Global Opportunities Partners II L.P. is a private
investment fund structured as limited partnership entity organized
in the State of Delaware.

MatlinPatterson and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No 21-11255) on July 6, 2021.  At the
time of the filing, MatlinPatterson had total assets of $100
million to $500 million and total liabilities of $10 million to $50
million.

The cases are handled by Judge David S. Jones.  

The Debtors tapped Simpson Thacher & Bartlett, LLP as bankruptcy
counsel, Schulte Roth & Zabel LLP as conflicts counsel, and North
Country Capital LLC as restructuring advisor.  Matthew Doheny of
North Country Capital serves as the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants, LLC is the claims and
noticing agent and administrative advisor.


MATLINPATTERSON GLOBAL: Taps Simpson Thacher as Legal Counsel
-------------------------------------------------------------
MatlinPatterson Global Opportunities Partners II L.P. and its
affiliates seek approval from the U.S. Bankruptcy Court for the
Southern District of New York to hire Simpson Thacher & Bartlett,
LLP to serve as legal counsel in their Chapter 11 cases.

The firm's services include:

     (a) advising the Debtors with respect to their rights, powers
and duties in the continued operation of their businesses;

     (b) advising the Debtors regarding the general status of their
bankruptcy cases;

     (c) taking all necessary or appropriate actions to protect and
preserve the Debtors' estates during the pendency of their cases,
including the prosecution of any actions on the Debtors' behalf,
the defense of any actions commenced against the Debtors, the
negotiation of disputes in which the Debtors are involved, and the
preparation of objections to any claims filed against the estates;

     (d) preparing legal documents;

     (e) communicating with creditors and other parties in
interest;

     (f) taking all necessary or appropriate actions in connection
with the preparation and implementation of a Chapter 11 plan;

     (g) advising the Debtors with respect to funds, litigation,
tax and other non-bankruptcy matters to the extent requested by the
Debtors;

     (h) attending court hearings; and

     (i) performing all other necessary legal services.

The firm's hourly rates are as follows:

     Partners           $1,370 - $1,895 per hour
     Senior Counsel     $1,350 - $1,395 per hour
     Counsel            $1,320 - $1,350 per hour
     Associates         $520 - $1,310 per hour
     Paraprofessionals  $320 - $545 per hour

Simpson Thacher's hourly rates for the attorneys who are expected
to provide the services are as follows:

     Elisha D. Graff          $1,725 per hour
     Tyler B. Robinson        $1,895 per hour
     Kathrine A. McLendon     $1,350 per hour
     David R. Zylberberg      $1,320 per hour
     Daniel L. Biller         $1,240 per hour
     Jamie J. Fell            $1,170 per hour
     Lauren W. Brazier        $1,095 per hour
     Dov Gottlieb             $790 per hour
     Jonathan Mitnick         $655 per hour

The Debtors paid $500,000 to the law firm as a retainer fee.

Elisha Graff, Esq., a partner at Simpson Thacher & Bartlett,
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.

Ms. Graff also disclosed the following in response to the request
for additional information set forth in Paragraph D.1. of the U.S.
Trustee Guidelines:

     1. Question: Did Simpson Thacher & Bartlett agree to any
variations from, or alternatives to, its standard billing
arrangements for this engagement?

        Answer: No. Simpson Thacher & Bartlett has not agreed to
any variations from, or alternatives to, its standard billing
arrangements for the engagement except that litigation services in
respect of the VRG litigation were billed at a 10 percent discount
by agreement with the Debtors, and this arrangement will be
maintained during the pendency of the Debtors' Chapter 11 cases.
The firm's rate structure is appropriate and is the same as the
rates that it charges for other non-bankruptcy representations or
the rates of other comparably skilled professionals.

     2. Question: Do any of Simpson Thacher & Bartlett's
professionals in this engagement vary their rate based on the
geographic location of the Chapter 11 cases?

        Answer: No. The professionals involved in the engagement do
not vary their rates based on the geographic location of the
Chapter 11 cases.  Simpson Thacher & Bartlett's hourly rates in
representing the Debtors are consistent with its rates for other
comparable clients regardless of the location of the Chapter 11
cases.

     3. Question: If Simpson Thacher & Bartlett has represented the
Debtors in the 12 months prepetition, disclose the firm's billing
rates and material financial terms for the prepetition engagement,
including any adjustments during the 12 months prepetition. If the
firm's billing rates and material financial terms have changed
post-petition, explain the difference and the reasons for the
difference.

        Answer: Simpson Thacher & Bartlett was formally retained by
the Debtors to assist with the Chapter 11 process pursuant to the
engagement letter dated May 3, 2021.  The billing rates and
material financial terms of the pre-bankruptcy engagement are the
same as those proposed in the Debtors' employment application.
Simpson Thacher & Bartlett also performed certain contingency
planning work for the Debtors prior to its formal engagement as
general restructuring counsel.  The billing rates and material
financial terms for that work are the same as those proposed in the
application.

     4. Question: Have the Debtors approved Simpson Thacher &
Bartlett's prospective budget and staffing plan, and if so, for
what budget period?

        Answer: Yes. The Debtors will approve a prospective budget
and staffing plan for Simpson Thacher & Bartlett's engagement for
the anticipated post-petition period as appropriate. In accordance
with the U.S. Trustee Guidelines, the budget may be amended as
necessary to reflect changed or unanticipated developments.

Simpson Thacher & Bartlett can be reached at:

     Elisha D. Graff, Esq.
     Kathrine A. McLendon, Esq.
     David R. Zylberberg, Esq.
     Jamie J. Fell, Esq.
     Simpson Thacher & Bartlett LLP
     425 Lexington Avenue
     New York, NY 10017
     Tel: (212) 455-2000
     Fax: (212) 455-2502
     Email: egraff@stblaw.com
            kmclendon@stblaw.com
            david.zylberberg@stblaw.com

     -- and --

     Tyler B. Robinson, Esq.
     Lauren W. Brazier, Esq.
     Simpson Thacher & Bartlett LLP
     CityPoint, One Ropemaker Street
     London EC2Y 9HU, England
     Tel: +44-(0)20-7275-6500
     Fax: +44-(0)20-7275-6592
     Email: trobinson@stblaw.com

                    About MatlinPatterson Global

MatlinPatterson Global Opportunities Partners II L.P. is a private
investment fund structured as limited partnership entity organized
in the State of Delaware.

MatlinPatterson and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No 21-11255) on July 6, 2021.  At the
time of the filing, MatlinPatterson had total assets of $100
million to $500 million and total liabilities of $10 million to $50
million.

The cases are handled by Judge David S. Jones.  

The Debtors tapped Simpson Thacher & Bartlett, LLP as bankruptcy
counsel, Schulte Roth & Zabel LLP as conflicts counsel, and North
Country Capital LLC as restructuring advisor.  Matthew Doheny of
North Country Capital serves as the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants, LLC is the claims and
noticing agent and administrative advisor.


MEDIAOCEAN LLC: Moody's Affirms 'B2' CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service affirmed Mediaocean LLC's B2 Corporate
Family Rating and B2-PD Probability of Default Rating following the
company's proposed acquisition of Flashtalking. Concurrently,
Moody's affirmed Mediaocean's B2 instrument rating on the senior
secured first lien credit facilities. The outlook is stable.

Mediaocean plans to acquire Flashtalking, a software provider of
omnichannel advertising management services, for $475 million. The
acquisition will be funded with a $385 million incremental term
loan, $95 million roll-over equity and balance sheet cash.
Mediaocean's revolving credit facility will also be upsized to $65
million from $30 million. The ratings affirmation reflects
Mediaocean's good operating performance, solid credit metrics for
the rating category (prior to the purchase), and Moody's
expectation that the company will reduce leverage towards 5x over
the next 12 to 18 months.

Affirmations:

Issuer: Mediaocean LLC

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Gtd Senior Secured First Lien Bank Credit Facility, Affirmed B2
(LGD4) from (LGD3)

Outlook Actions:

Issuer: Mediaocean LLC

Outlook, Remains Stable

RATINGS RATIONALE

Mediaocean's B2 CFR reflects the company's elevated adjusted
leverage (pro forma for the acquisition of Flashtalking) of 6x,
narrow focus in software solutions for the advertising industry,
and relatively small scale. The company's considerable customer
concentration among top advertising agencies exposes it to the
cyclical advertising market which has been vulnerable to economic
downturns. Nevertheless, despite the advertising market decline and
economic recession in 2020, Mediaocean experienced flat revenue
growth due to the company's favorable higher fee economics for
digital advertising spending and digital advertising growth. The
rating is also constrained by governance considerations and the
company's aggressive financial policy under private equity
ownership, which includes the use of debt funding for acquisitions
that can limit financial flexibility.

Mediaocean benefits from its leading presence within its targeted
market and longstanding relationships with top advertising
agencies, which helps support its revenue predictability and stable
free cash flow generation. Further supporting the company's credit
profile is the continued secular shift towards digital advertising
solutions among marketers from more mature, traditional channels,
which supports Mediaocean's growth prospects. The acquisition of
Flashtalking further supplements the company's solutions in digital
advertising and adds new capabilities related to creative tools for
personalized advertisements, as well as ad serving and data
analytics.

Moody's expects that Mediaocean will maintain a very good liquidity
over the next 12 months. Pro forma for the transaction, the
company's sources of liquidity consist of a cash balance of
approximately $78 million and a $65 million undrawn revolver due
August 2023. Over the next 12 months, Moody's anticipates that the
company will generate in excess of $80 million of free cash flow.
The revolver has a springing first lien net leverage covenant that
would be triggered at 35% revolver utilization. Moody's expects
that Mediaocean will maintain good cushion under this covenant over
at least the next 12 months.

The stable outlook reflects Moody's expectation for mid to high
single digit organic revenue and EBITDA growth over the next 12 to
18 months, driven by an ongoing transition toward digital
advertising solutions. Organic growth should drive operating
leverage such that leverage should decrease towards 5x over the
next 12 to 18 months.

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

The ratings could be upgraded if Mediaocean's scale is increased
substantially by generating consistent organic revenue and EBITDA
growth such that adjusted leverage is expected to be sustained
below 4x. The company would also have to demonstrate conservative
financial policies.

The ratings could be downgraded if revenue declines and leverage
were expected to be maintained above 6.5x on other than a temporary
basis, or if free cash flow to debt were to fall below 5%.

The principal methodology used in these ratings was Software
Industry published in August 2018.

Headquartered in New York, New York, Mediaocean is a global,
market-leading provider of financial and operational software
solutions for the advertising industry, enabling agencies and
brands to manage and coordinate the entire advertising workflow.
The company is owned by funds affiliated with Vista Equity Partners
and generated pro forma revenues of about $351 million as of the
LTM period ended March 31, 2021.


MEDICAL PROPERTIES: S&P Affirms 'BB+' ICR, Outlook Stable
---------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' issuer credit rating on
Medical Properties Trust Inc. (MPW) and 'BBB-' rating on its debt.

The stable outlook on MPW reflects the company's relatively stable
cash flows from long-term triple-net leases and adequate
tenant-level rent coverage, supported by material government
financial aid provided to hospitals throughout the COVID-19
pandemic. It also reflects S&P's expectations that credit metrics
will improve modestly over the next two years with some
quarter-to-quarter variability, incorporating MPW's aggressive
acquisition appetite and track record of issuing equity to help
fund growth.

MPW has significantly grown its asset base and improved portfolio
diversification through external growth, although large tenant
concentration remains. As of March 31, 2021, MPW's undepreciated
real estate investments totaled $15.5 billion, more than doubling
in size from just two years prior. The company has expanded to 425
properties from 276 as of March 31, 2019. Its tenant and geographic
diversification substantially improved over that period. MPW
actively reduced its exposure to its largest operator, Steward
Health Care. As of March 31, 2021, Steward accounted for 21.5% of
pro forma total gross assets and 26.7% of revenue, compared to
37.9% and 43.5%, respectively, as of the first quarter of 2019.
Furthermore, the largest individual facility accounted for 2.8% of
total gross assets, compared to 3.6% two years prior. However,
although it has significantly reduced, S&P continues to view the
company's large tenant concentration to its top tenants as a
substantial risk as for-profit tenants tend to have weaker tenant
quality within the health care industry and could exhibit cash flow
volatility and asset impairments.

MPW has steadily increased its geographic footprint, with
international operations accounting for 42% of total gross assets
as of March 31, 2021, compared to 22.4% as of March 31, 2019.
Diversification within the U.S. also materially improved over the
same time, with no state accounting for more than 10% of total
gross assets compared to three states above that threshold in
2019.

S&P said, "We think hospitals face certain unique challenges
relative to other health care facility types, although MPW's
triple-net lease structure provides cash flow stability. We think
the challenge of replacing tenants at hospital properties is more
difficult than for many other property types (including other
health care facilities)." Greater capital expenditures are
required, and there is potential obsolescence given the secular
shifts across the industry. Hospitals are highly specialized
facilities with limited ability for repurposing compared to other
traditional real estate properties, which could lead to extended
low occupancy if a tenant defaults and vacates a property.
Partially offsetting this risk is the company's long-term
triple-net leases, the majority of which contain escalators based
on the U.S. Consumer Price Index (CPI), resulting in relatively
stable cash flows. Furthermore, MPW has a well-laddered lease and
loan maturity schedule, with no more than 4.6% of leases and loans
maturing in any year through 2030, and just 13.1% prior to 2031.
Providing additional protection, most of MPW's leases are subject
to master leases, which gives it additional advantages if a tenant
restructures.

Hospitals have benefited from strong government support over the
past year, helping improve already adequate operator coverage
levels before the pandemic. MPW's total portfolio same-store
trailing-12-months earnings before interest, taxes, depreciation,
amortization, rent, and management fees (EBITDARM) rent coverage
improved to 3.1x for the fourth quarter of 2020, compared to 2.6x a
year prior. Excluding Coronavirus Aid, Relief, and Economic
Security Act grants, rent coverage declined to 2x for the fourth
quarter of 2020. That said, rents make up a much smaller percentage
of costs for hospitals than many other health care facilities such
as skilled nursing facilities and senior housing properties, so
changes in variable costs can have a larger impact on coverage
levels.

While regulatory risks remain, with hospitals generating more than
half of their income from government reimbursement programs, S&P
views the government's willingness and level of support to
hospitals as a credit positive. This underscores the likelihood
that further support would be granted should hospitals require the
assistance. Moreover, MPW and its operators should benefit from
favorable long-term demographic trends given the aging U.S.
population that accounts for most health care spending in the U.S.

S&P said, "MPW's aggressive growth strategy has elevated leverage,
but we expect credit metrics to improve over the next 12-24 months.
Its robust acquisition volume has increased S&P Global
Ratings-adjusted debt to EBITDA (calculated on a trailing-12-months
basis) the past two years. As of March 31, 2021, it was 8.8x, an
increase from 8.4x at year-end 2020 and a material increase from
the 5.2x as of March 31, 2019. Company-calculated pro forma net
debt to annualized adjusted EBITDA for the three months ended March
31, 2021, was 6.3x, modestly above MPW's stated financial policy of
leverage between 5x and 6x. We expect leverage will improve over
the next year due to several factors: MPW seeks to reduce leverage
with potential joint venture partners on several of its hospitals;
the company could issue additional equity, as the stock price is
trading at a meaningful premium to net asset value; and its pace of
acquisitions is likely to slow from recent quarters. We project
adjusted debt to EBITDA to improve to the mid- to high-7x area by
year-end 2021 and to the mid-7x area in 2022.

"S&P Global Ratings' stable outlook on MPW reflects the company's
relatively stable cash flows from long-term triple-net leases and
adequate tenant-level rent coverage but also some tenant
concentration. We expect adjusted credit metrics to remain in line
with the rating, incorporating the company's aggressive acquisition
appetite and track record of issuing equity to help fund growth. We
project S&P Global Ratings-adjusted debt to EBITDA to improve to
the mid- to high-7x area by year-end 2021, with additional modest
improvement in 2022."

S&P could lower the rating if:

-- Tenants face industry-related pressure that considerably
weakens rent coverage; or if any large tenant files for bankruptcy
protection;

-- Given the company's aggressive appetite for acquisitions, it
increases its concentration to its top tenants or fails to issue a
significant amount of equity to fund growth; or

-- S&P Global Ratings-adjusted debt to EBITDA remains above 9.0x
for a sustained period, or if debt to undepreciated capital rises
above 65%.

Although unlikely over the next 12 months, given the significant
tenant concentration and special-purpose nature of MPW's assets,
S&P could consider raising the issuer credit rating if:

-- The company further enhances the quality of its portfolio by
increasing scale, reducing tenant concentration, and maintaining
cash flow stability while also modestly improving its credit
protection measures; or

-- It meaningfully reduces adjusted debt to EBITDA to and sustains
it below 6x, with debt to undepreciated capital improving to the
mid-40% area or below.



MILLENNIUM PARK: Moody's Withdraws Caa1 CFR on Debt Repayment
-------------------------------------------------------------
Moody's Investors Service has withdrawn the credit ratings of
Millennium Park Holdco, Inc. (Numerator), including its Caa1
Corporate Family Rating, Caa1-PD probability of default rating and
B3 senior secured bank credit facility rating following the
repayment of all outstanding debt. The withdrawal follows the
repayment of the company's debt.

All of Numerator's debts were repaid as a result of the completion
of its sale to Kantar Global Holdings S.a r.l. (Kantar, B2
Negative) in July 2021. Numerator's sale to Kantar was originally
announced on April 19, 2021.

Withdrawals:

Issuer: Millennium Park HoldCo, Inc.

Probability of Default Rating, Withdrawn , previously rated
Caa1-PD

Corporate Family Rating, Withdrawn , previously rated Caa1

Senior Secured Bank Credit Facility, Withdrawn , previously rated
B3 (LGD3)

Outlook Actions:

Issuer: Millennium Park HoldCo, Inc.

Outlook, Changed To Rating Withdrawn From Stable

RATINGS RATIONALE

Millennium Park HoldCo, Inc. (Numerator), headquartered in Chicago,
Illinois, provides omnichannel panel data, subscription-based
promotion, brand and e-commerce data and analysis services to
retailers and consumer packaged goods and other companies.


MY2011 GRAND: August 31 Disclosure Statement Hearing Set
--------------------------------------------------------
Judge Robert D. Drain will convene a hearing on August 31, 2021 at
10 a.m., by telephone through Court-Solutions or Zoom, to consider
approval of the Disclosure Statement of MY 2011 Grand LLC and S&B
Monsey LLC.  

Objections, if any, must be filed and served so as to be received
at least seven days prior to the hearing date.

A copy of the hearing notice is available for free at
https://bit.ly/3Bfvp8B from PacerMonitor.com.

                      About MY 2011 Grand LLC

MY2011 Grand has an equitable interest in Grand Living LLC II, the
Mezz owner of Grand Living LLC, the owner of the property located
at 227 Grand Street Brooklyn, NY 11211.  The current value of the
Debtor's interest is $12.80 million.

S & B Monsey has an equitable interest in Grand Living LLC II, the
Mezz owner of Grand Living LLC, the owner of the property located
at 227 Grand Street Brooklyn, NY 11211.  The current value of the
Debtor's interest is $13.2 million.

MY 2011 Grand LLC and S & B Monsey filed voluntary petitions under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23957) on Nov. 6, 2019. The petitions were signed by David
Goldwasser, authorized signatory of GC Realty Advisors.

At the time of filing, MY2011 Grand and S & B Monsey each estimated
$10 million to $50 million in assets and $1 million to $10 million
in liabilities.

The Debtors are represented by Mark A. Frankel, Esq. at Backenroth
Frankel & Krinsky, LLP, as counsel.


NB LOFT: Hearing Today on Bid to Use Fannie Mae's Cash Collateral
-----------------------------------------------------------------
NB Loft Vue, DST and NP Vue Mac, DST asked the Bankruptcy Court to
authorize the use of cash collateral to fund their Chapter 11
cases.  The Debtors are seeking to use the cash collateral from the
Petition Date through the Termination Declaration Date.  Lender,
Fannie Mae, as successor in interest to Berkeley Point Capital,
LLC, has interest in both Debtors' cash collateral.

The request provided that upon the occurrence and during the
continuance of any termination event after the giving of at least
three business days' prior written notice (to the counsel to the
Debtors, any Committee and the U.S. Trustee), any automatic stay is
modified to the extent necessary to permit the Lender to declare a
termination, reduction or restriction on the ability of either
Debtor to use any Cash Collateral.  Any Termination Declaration
shall be made in writing to the respective counsel to the Debtors,
any Committee and the U.S. Trustee.   The date that is the earliest
to occur of any such Termination Declaration is referred to as the
Termination Declaration Date.

Prepetition, Debtor Loft Vue borrowed from Berkeley Point Capital,
LLC as original lender and servicer, $10,712,000 in original
principal amount pursuant to a Multifamily Loan and Security
Agreement dated as of September 30, 2016.  The Loft Vue Loan is
secured by a Multifamily Deed of Trust, Assignment of Rents,
Security Agreement and Fixture Filing covering the Loft Vue
Facility's real and personal property.  The Loft Vue Loan and
Security Documents were assigned to Fannie Mae.

As of the Petition Date, Loft Vue owed Fannie Mae approximately
$11.5 million, inclusive of accrued and unpaid interest, attorneys'
fees and costs, but exclusive of a prepayment penalty asserted by
Fannie Mae in excess of $2,000,000.  The Loft Vue Secured
Obligations are secured by valid, binding, perfected first-priority
security interest in and liens on substantially all real and
personal property assets of Loft Vue.

Debtor Vue Mac also contracted a prepetition loan with Berkeley
Point Capital, LLC as original lender and servicer, for $23,265,000
under a Multifamily Loan and Security Agreement dated as of
December 18, 2015.  The Vue Mac Loan is secured by that certain
Multifamily Deed of Trust, Assignment of Rents, Security Agreement
and Fixture Filing covering the Vue Mac Facility's real and
personal property.  The Vue Mac Loan and Security Documents were
also assigned to Fannie Mae.

As of the Petition Date, Vue Mac's obligations to Fannie Mae exceed
$24,500,000, inclusive of accrued and unpaid interest, attorneys'
fees and costs, after accounting for certain reserves and escrows
held by Fannie Mae, but excluding a prepayment penalty asserted by
Fannie Mae in excess of $4,500,000.  The Vue Mac Secured
Obligations are secured by valid, binding, perfected first-priority
security interest in and liens on substantially all real and
personal property assets of Vue Mac.

Loft Vue holds cash in three accounts at Citizens Community Bank.
Vue Mac holds cash in four accounts also at Citizens Community
Bank.

As adequate protection, the Debtors proposed to grant Lender Fannie
Mae, to the extent of any diminution in value of the Lender's
interests in the Prepetition Collateral from and after the Petition
Date, Adequate Protection Liens and the Adequate Protection
Superpriority Claim, subject to the Carve-Out.  In addition, the
Debtors agree to institute certain Milestones concerning the sale
of their assets and/or the refinancing of their obligations to
Fannie Mae.

The Debtors acknowledged that while they anticipate that the Lender
will consent to the interim use of cash collateral, several
unresolved issues concerning the same exist which the parties will
continue to negotiate and hope to resolve prior to the interim
hearing.

The hearing for July 22 is rescheduled for July 23, 2021 at 8 a.m.
by telephone and video conference.

A copy of the motion is available for free at
https://bit.ly/2W9x3Zh from PacerMonitor.com.

A copy of the proposed order is available for free at
https://bit.ly/3kImVko from PacerMonitor.com.

Proposed counsel for the Debtors:

   Thomas D. Berghman, Esq.
   Munsch Hardt Kopf & Harr, P.C
   500 North Akard St., Suite 3800
   Dallas, TX 75201
   Telephone: (214) 855-7500
   Facsimile: (214) 978-4375
   Email: tberghman@munsch.com

           - and -

   Thomas R. Fawkes, Esq.
   Tucker Ellis LLP
   233 S. Wacker Dr., Suite 6950
   Chicago, IL 60606
   Telephone: (312) 256-9425
   Facsimile: (312) 624-6309
   Email: thomas.fawkes@tuckerellis.com

                      About NP Loft Vue, DST

NP Loft Vue, DST -- http://www.loftvueliving.com/-- a Delaware
statutory trust operating in San Clemente, California, filed a
Chapter 11 petition (Bankr. S.D. Tex. Lead Case No. 21-32292) on
July 6, 2021.  Affiliate company, NP Vue Mac, DST --
http://www.vuecollegeliving.com/--  also filed a Chapter 11
petition (Bankr. S.D. Tex. Case No. 21-32291) on July 6.  The cases
are jointly administered under NP Loft's case.  

In the petitions signed by Patrick Nelson, authorized personnel,
each Debtor reported $10 million to $50 million in both assets and
liabilities.

Judge Marvin Isgur presides over the cases.  

Munsch Hardt Kopf & Harr, P.C. serves as the Debtors' counsel.



NET ELEMENT: Inks Second Amended Plan of Merger With Mullen
-----------------------------------------------------------
Net Element, Inc. entered into a Second Amended and Restated
Agreement and Plan of Merger with Mullen Acquisition, Inc., the
Company's wholly owned subsidiary, Mullen Technologies, Inc., and
Mullen Automotive, Inc.

Pursuant to, and on the terms and subject to the conditions of, the
Restated Merger Agreement, Mullen Acquisition will be merged with
and into Mullen Automotive, with Mullen Automotive continuing as
the surviving corporation in the Merger.

Prior to the Merger effective time, (i) Mullen Technologies is
contemplating to assign and transfer to Mullen Automotive of its
electric vehicle business related asset, business and operations,
and Mullen Automotive is contemplating to assume certain debt and
liabilities of Mullen Technologies and (ii) Mullen Technologies is
contemplating a spin off, via share dividend, of all of the capital
stock of Mullen Automotive to the stockholders of Mullen
Technologies as of the effective date of such spin off.  After such
spin off and immediately prior to the effective time of the Merger,
the capital structure (including its issued and outstanding common
and preferred stock) of Mullen Automotive shall mirror the capital
structure of Mullen Technologies.

The Restated Merger Agreement amends, restates and replaces in its
entirety the Amended and Restated Agreement and Plan of Merger,
dated as of May 14, 2020, as amended, among the Company, Mullen
Technologies, Mullen Acquisition and Mullen Automotive.

Pursuant to the Restated Merger Agreement:

Subject to the Company's stockholders' approval, at the Merger
effective time, the Company will amend its certificate of
incorporation to authorize a sufficient number of shares of three
series of preferred stock of the Company with identical rights,
preferences and privileges currently afforded holders of Series A
preferred stock, Series B preferred stock and Series C preferred
Stock of Mullen Automotive and change its name to "Mullen
Automotive, Inc."

Subject to the Company's stockholders' approval, at the Merger
effective time:

   * except for the shares of Mullen Automotive held by dissenting
shareholders, each share of Mullen common stock, Mullen Series A
preferred stock and Mullen Series B preferred stock (all issued and
outstanding shares of Mullen common stock, Series A preferred
stock, Series B preferred stock and Series C preferred stock, being
hereinafter collectively referred to as the "Mullen Shares") issued
and outstanding immediately prior to the Merger effective time
(other than any Mullen Shares to be canceled pursuant to the
provisions of the Restated Merger Agreement and any Dissenting
Shares) will be canceled and converted automatically into the right
to receive that number of shares of the Company common stock, the
Company newly designated Series A preferred stock, the Company
newly designated Series B preferred stock and the Company newly
designated Series C preferred stock, as the case may be
(collectively the "Parent Shares"), as described on Schedule A to
the Restated Merger Agreement; and

   * a total of shares of the Company common stock as set forth and
further described on Schedule B to the Restated Merger Agreement
will be deposited into an escrow account to be released.

The Parties to the Restated Merger Agreement intend that the number
of shares of the Company common stock outstanding immediately after
the Merger effective time on a fully diluted and fully converted
basis will not exceed 75,000,000, with 15% of such common stock
outstanding immediately after the Merger effective time on a fully
diluted and fully converted basis to be allocated to the persons
that hold shares of the Company common stock immediately prior to
the Merger effective time (subject to upward adjustment).

Any Mullen Shares issued and outstanding immediately before the
Merger effective time that are held by a Dissenting Stockholder
(i.e., a stockholder of Mullen Automotive that has not voted in
favor of or consented in writing to the adoption of the Restated
Merger Agreement and the Merger and has complied with the
provisions of Chapter 13 of the California Corporations Code
concerning the right of holders of Mullen Shares to require Mullen
Automotive to repurchase their shares) will not be converted into
the right to receive Parent Shares, but will instead become the
right to receive from the Company such consideration as may be
determined to be due to such Dissenting Stockholder per the
procedures set forth in Chapter 13 of the California Corporations
Code.  At the Merger effective time, such Dissenting Shares will no
longer be outstanding and shall automatically be cancelled and
shall cease to exist, and such holder will cease to have any rights
with respect thereto, except the right to receive the appraised
value of such Dissenting Shares in accordance with the provisions
of Chapter 13 of the California Corporations Code).

The Parties to the Restated Merger Agreement intend that, at the
Merger effective time, (i) all current directors of the Company
will resign, and the individuals nominated by Mullen Automotive
will become the directors of the Company from and after the Merger
effective time; and (ii) all current officers of the Company will
resign and the individuals nominated by Mullen Automotive will
become the officers of the Company from and after the Merger
effective time.

As soon as practicable following the Merger, the Company will cause
its current ticker symbol "NETE" to be changed to such ticker
symbol as Mullen Automotive will select upon Nasdaq's approval of
the Company's listing application.

The Parties to the Restated Merger Agreement intend that, prior to
the Merger effective time but, subject to and after the Company's
stockholders' approval, the Company will divest itself of its
existing business operations to another party, and will cause such
party to assume all liabilities of the Company directly related to
its operations of its existing business immediately prior to the
closing of such divestiture.

The consummation of the Merger is subject to (i) the Merger and the
shares of Company common stock to be issued in connection with the
Merger and other transactions contemplated by the Restated Merger
Agreement being approved and authorized for the listing on Nasdaq
and (ii) the Company's and its subsidiaries aggregate cash and cash
equivalents plus amounts lent by the Company to Mullen Automotive
pursuant to the Restated Merger Agreement less accounts payable and
debt (exclusive of unfunded warrant proceeds) is $10,000,000 less
(a) legal fees as set forth in the Restated Merger Agreement, (b)
the Late Fees and (c) $500,000 previously lent by the Company to
Mullen Technologies together with all accrued interested thereon.
The parties to the Restated Merger Agreement intend that the
Company will effect a private placement of the Company common stock
prior to the Merger Effective Time in order to raise sufficient
capital for the Net Cash Position.

The Company and Mullen Automotive may agree that the Company may
raise additional capital beyond the Net Cash Position.  In such
event, Mullen Automotive and its pre-Merger shareholders shall
solely absorb all of the dilution from such additional capital
raise beyond the Net Cash Position for purposes of allocating
ownership between the Company pre-Merger stockholders, on the one
hand, and all other parties, on the other hand.  By way of example,
if there would have been 75,000,000 shares of the Company common
stock outstanding on a fully-diluted and converted basis prior to
the additional capital raised beyond the Net Cash Position, and the
Company issues 3,000,000 shares of the Company common stock to
raise additional capital over and above the Net Cash Position, the
Company pre-Merger stockholders would own 15% of such 75,000,000
shares of the Company common stock and plus 3,000,000 shares of the
Company common stock, or 14,250,000 shares of the Company common
stock immediately after the effective time of the Merger, and the
number of outstanding shares of the Company common stock would
increase from 75,000,000 to 78,000,000 on a fully-diluted and
converted basis immediately after the effective time of the
Merger.

After Mullen Automotive's completion and delivery to the Company,
of the audited financial statements for Mullen Automotive and its
subsidiaries and affiliates required to be included in a
registration statement, the Company intends to prepare and file
with the U.S. Securities and Exchange Commission a registration
statement on Form S-4 in which the proxy statement will be included
as a part of the prospectus, in connection with the registration
under the Securities Act of the shares of Parent Shares to be
issued in connection with the transactions contemplated in the
Restated Merger Agreement.

The Parties to the Restated Merger Agreement intend that the proxy
statement will be sent to the stockholders of the Company relating
to the special meeting of the Company stockholders to be held to
consider, among other things, approval and adoption, as applicable,
of (1) the Restated Merger Agreement, the Merger (including the
issuance and reservation for issuance, as applicable, of Parent
Shares as more particularly described in the Restated Merger
Agreement), the Divestiture, the amendment to the Company's
Certificate of Incorporation, the issuance of Parent Shares in
furtherance of the Private Placement, and the other transactions
contemplated by this Agreement requiring such stockholders
approval, including the reservation for issuance, subject to and
contingent upon consummation of the Merger and the Company's
stockholders approval, in excess of the limitation set forth in the
applicable Nasdaq rules, of the Company's common shares issuable
upon conversion of certain notes and warrants that, subject to and
after the consummation of the Merger, will become convertible into
the Company's common shares; and (2) any other proposals the
parties deem necessary to effectuate the Merger and the other
transactions contemplated in the Restated Merger Agreement.

Consummation of the Merger, the Divestiture, the Private Placement
and the other transactions contemplated in the Restated Merger
Agreement, is subject to customary conditions including, among
others, the approval of the Company's stockholders and listing of
the Company shares of common stock on the Nasdaq Capital Market
after the change of control due to the Merger. In addition, the
obligation of each party to consummate the Merger is also
conditioned on the other party's representations and warranties
being true and correct (subject to certain materiality
qualifications) and the other party having performed in all
material respects its obligations under the Restated Merger
Agreement.  The parties' obligations to consummate the Merger are
further subject to the absence of a "Material Adverse Effect" (as
defined in the Restated Merger Agreement) with respect to Mullen,
on the one hand, and the Company, on the other hand, since the date
of the Restated Merger Agreement.

The parties to the Restated Merger Agreement agreed that Mullen
Automotive will pay an agreed sum of $13,333.00 per day to the
Company until the said Registration Statement is filed with the
SEC. All accumulated Late Fees are due and payable by Mullen
Automotive on the 5th day of each calendar month commencing on
February 5, 2021 and on the 5th day of each month thereafter until
the above-refenced filing has occurred. As of the date hereof, an
aggregate Late Fee of $1,519,962 was accrued and remains unpaid.

Each of the Company, Mullen Automotive and Mullen Acquisition has
made customary representations and warranties and agreed to
customary pre-closing covenants in the Restated Merger Agreement.
In addition, each of Mullen Automotive and the Company has agreed
to other customary pre-closing covenants, including, among others,
to not take any actions that would reasonably be likely to prevent,
interfere with or materially delay the Merger.

The Restated Merger Agreement also provides that the Company shall
not (i) initiate, solicit, knowingly encourage or knowingly
facilitate any inquiries, proposals or indications of interest
regarding an acquisition proposal; subject to certain exceptions,
engage or participate in any negotiations with any third party
concerning any acquisition proposal; or subject to certain
exceptions provide any information to any third party relating to
any acquisition proposal and (ii) subject to certain exceptions,
withhold or withdraw the recommendation of its board of directors
that the holders of the Company Shares adopt the Restated Merger
Agreement.

The Restated Merger Agreement contains termination rights for each
of the Company and Mullen, including, among others, (i) in the
event that the Merger has not been consummated by Aug. 31, 2021,
(ii) in the event that the requisite approval of the Company's
stockholders is not obtained upon a vote thereon, (iii) in the
event that any governmental authority shall have taken action to
restrain, enjoin or prohibit the consummation of the Merger, which
action shall have become final and non-appealable and (iv) in the
event that there is a breach by the other party of any of its
representations, warranties, covenants or agreements, which breach
is sufficiently material and not timely cured or curable.  In
addition, Mullen Automotive may terminate the Restated Merger
Agreement if, prior to receipt of the requisite approval of the
Company's stockholders, the Company's board of directors shall have
changed their recommendation in respect of the Merger.  Further,
the Company may terminate the Restated Merger Agreement prior to
receipt of the requisite approval of the Company's stockholders to
enter into a definitive agreement with respect to a Superior
Proposal (as such term is defined in the Restated Merger
Agreement).

In the event of a termination of the Restated Merger Agreement
under specified circumstances, Mullen Automotive will be required
to pay the Company, and the Company will be required to pay Mullen
Automotive a termination fee of $750,000.

These circumstances include, (a) with respect to the Company: (i)
acceptance by the Company of a Superior Proposal and terminating
the Restated Merger Agreement, (ii) accepting a Competing Proposal
(as such term is defined in the Restated Merger Agreement) or (iii)
notifying Mullen Automotive of its termination of the Restated
Merger Agreement which termination is not otherwise allowed
pursuant to the terms of the Restated Merger Agreement; and (b)
with respect to Mullen, if Mullen Automotive notifies the Company
of Mullen's termination of the Restated Merger Agreement which is
not otherwise allowed pursuant to the terms of the Restated Merger
Agreement.

The Restated Merger Agreement has been included to provide
investors and security holders with information regarding the terms
of the Merger and the other transactions contemplated in the
Restated Merger Agreement.  It is not intended to provide any other
factual information about the Company or Mullen.  The
representations, warranties, covenants and agreements contained in
the Restated Merger Agreement were made only for purposes of the
Restated Merger Agreement and as of the specific date or dates set
forth therein, are solely for the benefit of the parties to the
Restated Merger Agreement, may be subject to limitations agreed
upon by the contracting parties (including being qualified by
confidential disclosures made for the purposes of allocating
contractual risk between the parties to the Restated Merger
Agreement instead of establishing these matters as facts) and may
be subject to standards of materiality applicable to the
contracting parties that differ from those applicable to investors
and security holders. Investors and security holders should not
rely on the representations, warranties, covenants and agreements
or any descriptions thereof as characterizations of the actual
state of facts or condition of the Company, Mullen Automotive or
Mullen Acquisition or any of their respective subsidiaries or
affiliates.  Moreover, information concerning the subject matter of
the representations and warranties set forth in the Restated Merger
Agreement may change after the date of the Restated Merger
Agreement, which subsequent information may or may not be fully
reflected in the Company's or Mullen's public disclosures.

                         About Net Element

Headquartered in North Miami Beach, Florida, Net Element, Inc.
(NASDAQ: NETE) -- http://www.NetElement.com-- is a global
technology and value-added solutions group that supports electronic
payments acceptance in a multi-channel environment including
point-of-sale (POS), e-commerce and mobile devices.  The Company
operates two business segments as a provider of North American
Transaction Solutions and International Transaction Solutions.

Net Element reported a net loss attributable to the Company's
stockholders of $5.94 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to the Company's stockholders
of $6.46 million for the year ended Dec. 31, 2019.  As of Dec. 31,
2020, the Company had $26.83 million in total assets, $24.34
million in total liabilities, and $2.48 million in total
stockholders' equity.


NK H ST: Taps Analytic Financial Group as Financial Advisor
-----------------------------------------------------------
NK H St, LLC seeks approval from the U.S. Bankruptcy Court for the
District of Columbia to hire Analytic Financial Group, LLC as its
financial advisor.

The firm's services include:

     (a) providing guidance in the preparation and compilation of
the Debtor's Chapter 11 bankruptcy operating reports;

     (b) reviewing and analyzing the Debtor's current financial
status;

     (c) preparing financial projections; and
  
     (d) providing other financial services as needed and requested
by the Debtor.

The firm's hourly rates are as follows:

     Scott W. Miller   $250 per hour
     George Sokul      $175 per hour

The Debtor paid $2,500 to the firm as a retainer fee.

Scott Miller, president of Analytic Financial 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:

     Scott W. Miller
     Analytic Financial Group, LLC
     222 Hillsboro Drive, Suite 201,
     Silver Spring, MD 20902
     Tel.: (301) 602-9258
     Email: scott@corporatematters.com

                         About NK H St, LLC

Washington, DC-based NK H St, LLC filed a Chapter 11 petition
(Bankr. D. D.C. Case No. 21-00139) on May 20, 2021.  At the time of
the filing, the Debtor had between $1 million and $10 million in
both assets and liabilities. Napoleon Ibiezugbe, managing member,
signed the petition.  

Judge Elizabeth L Gunn oversees the case.

Anitra Ash-Shakoor of Capital Justice Attorneys, LLP and Analytic
Financial Group, LLC serve as the Debtor's legal counsel and
financial advisor, respectively.


PELICAN FAMILY: Wins Cash Collateral Access Thru Aug 17
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, Wilmington Division, has authorized Pelican Family
Medicine, P.A. to use cash collateral on an interim basis in
accordance with the budget, with a 10% variance through August 17,
2021.

The Debtor requires the use cash collateral to pay its ongoing
operating expenses and administrative claims incurred during the
pendency of the case.

The Debtor's income is derived from the provision of medical
services to its patients and the collection of accounts receivable
generated by the same. In order to maintain its existing business
operations, the Debtor will be required to incur certain operating
expenses, including but not limited to those for rent, insurance,
utilities, medical supplies, payroll, communication and internet
service, and professional fees.

As of the Petition Date, the Debtor had accounts receivable with an
estimated collectible value of $159,582.

The creditors that may assert a security interest in the Debtor's
cash collateral are First Citizens Bank, Banker's Healthcare Group,
LLC, Green Capital Funding, LLC, U.S. Small Business
Administration, and Business Capital Providers, Inc.

On April 12, 2021, First Citizens filed its Proof of Claim No. 5 in
the case to evidence the balance of indebtedness owing from the
Debtor to First Citizens that is secured by the Collateral,
including the Cash Collateral. Claim 5 was filed in the amount of
$198,172 not including post-petition interest or legal fees and
expenses.

The Court directed the Debtor to pay First Citizens $1,000 as
adequate protection, as provided in the Budget. The adequate
protection payment will be applied by First Citizens to the balance
of indebtedness owing on its Claim 5.  

First Citizens will retain its liens on all pre-petition Collateral
and First Citizens is granted replacement liens upon all collateral
of the type and kind upon which it has and had a pre-petition lien
to the extent necessary to ensure that its Petition Date.  The
replacements liens are subject only to valid liens existing as of
the Petition Date. The replacement liens are deemed perfected
without the need for any further action by First Citizens,
effective nunc pro tunc as of the Petition Date. First Citizens
will have an administrative expense claim allowable under 11 U.S.C.
section 503(b)(1), with priority over all other administrative
expense claims, to the extent that the adequate protection provided
in the Interim Order proves inadequate.

A final hearing on the motion is scheduled for August 17 at 10
a.m.

A copy of the order and the Debtor's 30-day budget is available for
free at https://bit.ly/2UylxGf from PacerMonitor.com.

The Debtor projects $187,461 in total expenses and $190,250 in
gross revenues during the 30-day period.

               About Pelican Family Medicine, P.A.

Pelican Family Medicine, P.A. is a family practice physician in
Wilmington, North Carolina. It sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 21-00582) on
March 15, 2021. In the petition signed by Mark Thomas Armitage,
president, the Debtor disclosed $242,677 in assets and $1,545,287
in liabilities.

Judge Stephani W. Humrickhouse oversees the case.

Algernon L. Butler, III, Esq., at Butler & Butler, LLP is the
Debtor's counsel.



PUERTO RICO AQUEDUCT: To Refinance Its $1.8 Billion Debt
--------------------------------------------------------
Michelle Kaske of Bloomberg News reports that the Puerto Rico water
utility, the Puerto Rico Aqueduct and Sewer Authority, will
refinance its $1.8 billion of debt.

Puerto Rico's financial oversight board gave approval to the
island's government-owned water utility to refinance $1.8 billion
of debt sold in 2012 to seize on the drop in interest rates.

The transaction will provide the Puerto Rico Aqueduct and Sewer
Authority with an estimated $275 million of present-value-savings
through fiscal year 2047,'according to a letter of approval dated
Tuesday from the board to the commonwealth's Fiscal Agency and
Financial Advisory Authority.

Prasa, as the utility is known, had been planning to refund the
2012 A and B senior-lien bonds.

                         About Puerto Rico

Puerto Rico is a self-governing commonwealth in association with
the United States that's facing a massive bond debt of $70 billion,
a 68% debt-to-GDP ratio and negative economic growth in nine of the
last 10 years.

The Commonwealth of Puerto Rico has sought bankruptcy protection,
aiming to restructure its massive $74 billion debt-load and $49
billion in pension obligations.

The debt restructuring petition was filed by Puerto Rico's
financial oversight board in U.S. District Court in Puerto Rico
(Case No. 17-01578) on May 3, 2017, and was made under Title III
of
2016's U.S. Congressional rescue law known as the Puerto Rico
Oversight, Management, and Economic Stability Act ('PROMESA').

The Financial Oversight and Management Board later commenced Title
III cases for the Puerto Rico Sales Tax Financing Corporation
(COFINA) on May 5, 2017, and the Employees Retirement System (ERS)
and the Puerto Rico Highways and Transportation Authority (HTA) on
May 21, 2017. On July 2, 2017, a Title III case was commenced for
the Puerto Rico Electric Power Authority ("PREPA").

U.S. Chief Justice John Roberts has appointed U.S. District Judge
Laura Taylor Swain to oversee the Title III cases. The Honorable
Judith Dein, a United States Magistrate Judge for the District of
Massachusetts, has been designated to preside over matters that may
be referred to her by Judge Swain, including discovery disputes,
and management of other pretrial proceedings.

Joint administration of the Title III cases, under Lead Case No.
17-3283, was granted on June 29, 2017.

The Oversight Board has hired as advisors, Proskauer Rose LLP and
O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic
consultant, Citigroup Global Markets, as municipal investment
banker, and Ernst & Young, as financial advisor.

Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M.
Abelson, Esq., of Proskauer Rose; and Hermann D. Bauer, Esq., at
O'Neill & Borges are on-board as attorneys.

McKinsey & Co. is the Board's strategic consultant, Ernst & Young
is the Board's financial advisor, and Citigroup Global Markets Inc.
is the Board's municipal investment banker.

Prime Clerk LLC is the claims and noticing agent. Prime Clerk
maintains a case web site at
https://cases.primeclerk.com/puertorico

Epiq Bankruptcy Solutions LLC is the service agent for ERS, HTA,
and PREPA.

O'Melveny & Myers LLP is counsel to the Commonwealth's Puerto Rico
Fiscal Agency and Financial Advisory Authority (AAFAF), the agency
responsible for negotiations with bondholders.

The Oversight Board named Professor Nancy B. Rapoport as fee
examiner and to chair a committee to review professionals' fees.



PURDUE PHARMA: CMFNC Says Sixth Amended Joint Plan Unconfirmable
----------------------------------------------------------------
Certain Canadian Municipal Creditors and Canadian First Nation
Creditors (the "Canadian Municipality and First Nations Creditors"
or "CMFNC") object to the proposed Confirmation of the Sixth
Amended Joint Chapter 11 Plan of Reorganization of Purdue Pharma
L.P. and its Affiliated Debtors.

This Court, the Debtors and a multitude of creditors and interested
parties have clearly expended extraordinary effort in attempting to
bring resolution to an exceptionally sad and complicated set of
circumstances. The CMFNC have not participated in a meaningful way
in the negotiations that resulting in the NOAT and the Tribal
Trust. The end result is a Plan and Supplemental Documents which
are unconfirmable as drafted, and which require the CMFNC to both
reserve certain rights, and object to Confirmation because:

     * The Plan and recently filed Supplemental Documents
impermissibly fail to provide equality of treatment to similar
creditors in the same classes;

     * Without more, it is unclear that the Plan has been proposed
in good faith as to the Canadian Municipality and First Nations
Creditors; and

     * The Non-Debtor Third Party Releases and other aspects of the
Plan require objections and reservations of rights insofar as they
may seek to impermissibly extend US jurisdiction, contractual
release and discharge of non-US sovereigns, and they may seek to
affect a corporate and third-party discharge of CMFNC in
contravention of Section 1141(d)(6)(A).

The Plan is fundamentally premised on the trusts set up for the
equitable distribution of allocated funds to claimants – yet it
does not appear that there is any analysis or allocation as to
Canadian Municipal or First Nations Claims – it is not at all
clear from the Disclosure Statement, Plan and Supplements that any
funds will be allocated to these claims.

This is all the more concerning because the Plan specifically,
clearly and intentionally addresses Canadian personal injury tort
and class action claims. The anomalies and lack of clarity in the
Plan and Plan documents leave the Canadian Municipal Creditors and
the Canadian First Nation Creditors wondering whether and why the
Debtors have seemingly forgotten to clearly address their claims.

Counsel for CMFNC:

     Allen J. Underwood, II
     LITE DEPALMA GREENBERG & AFANADOR, LLC
     570 Broad Street, Suite 1201
     Newark, New Jersey 07102
     Tel: (973) 623-3000
     Fax: (973) 623-0858
     E-mail: aunderwood@litedepalma.com

                      About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19
23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Conn. AG Tong Balks at Sanctions in Bankruptcy Case
------------------------------------------------------------------
Daniel Jackson of Courthouse News Service reports that Connecticut
attorney-general balks at sanctions play in Purdue Pharma's
bankruptcy case.

After attorneys for the wealthy Sackler family proposed and quickly
withdrew a motion to sanction several states, the attorney general
of Connecticut called it "an organized crime family intimidation
tactic."

"Colossally idiotic." Connecticut Attorney General William Tong had
harsh words Friday when attorneys representing the family who owns
the bankrupt OxyContin maker Purdue Pharma threatened a demand for
sanctions against four states and the District of Columbia.

Purdue, which pleaded guilty last November for its role in
contributing to the nation's opioid epidemic, is seeking Chapter 11
bankruptcy protection in the U.S. Bankruptcy Court in the Southern
District of New York. Many states have opposed Purdue's bankruptcy
reorganization, however, as they seek further liability from
Purdue's owners. Specifically, the states say individual members of
the Sackler family directed marketing that misled the doctors who
wrote OxyContin prescriptions and the patients given the addictive
painkiller recklessly.

Connecticut is among of group of holdouts that have objected to a
settlement that Purdue reached last week with 15 states, including
New York and Massachusetts. Among other terms, the settling states
have agreed to support Purdue Pharma’s bankruptcy reorganization
plan in exchange for the release of 33 million documents and $50
million from the Sacklers.

Tong on Friday, July 16, 2021, said the Sackler's attorneys sent an
email the previous day with a motion for sanctions, complete with
about 165 pages of exhibits, against Connecticut, California,
Maryland, Rhode Island and the District of Columbia.

A firm representing the Sackler family declined to comment.

In the draft motion, the Sackler family's attorneys said they
sought the sanctions, including fees and reprimands, because the
states made allegations that lacked evidence.

One example quoted in the filing is that Connecticut ignored the
Sacklers' demand that it produce documents to back up its
allegation that the family engaged in “Knowing Participation in
Deception."

"There is no evidence that Beverly, David, Jonathan or Richard
Sackler had any involvement in the drafting or approval of the
content of marketing material or what sales representatives said,
were authorized to say or prohibited from saying during the
Relevant Period," the draft motion states.

As for the timing, attorneys for the Sackler family wrote that they
were serving the draft 21 days before they intended to file it to
give the states an opportunity to back up their assertions.

Tong said the Sackler family attorneys withdrew the motion Friday
morning "after they got tremendous blowback from a lot of different
parties" for the move.

In a sharp series of comments, Tong described the withdrawn
proposal as a threat against his state, "an organized crime family
intimidation tactic" and "colossally idiotic."

Tong said he made the allegations at issue in a complaint filed
more than two years ago, and the last-minute filing was an attempt
to pressure the state to accept a settlement proposal.

"The Sacklers are trying to use the company's bankruptcy to shield
themselves from liability and from paying what they ought to pay
for their role in causing and fueling the opioid crisis," Tong
said.

Adding that he has "opposed them very aggressively," Tong said he
planned to object to the settlement plan on Monday, July 12, 2021.

The pharmaceutical company’s headquarters rests in Stamford,
Connecticut, the same city where Tong resides.

While the draft motion says Purdue supplied the state attorney
generals with discovery in the millions of pages, Tong said in a
statement Friday about the draft motion that there was more he
wanted to uncover.

"If the Sacklers have any doubt about the strength of our
allegations, they should produce each and every document currently
hidden under protective order or cloaked under claims of privilege
and each of them take the stand so that I can personally question
them and expose the depths of their misconduct," he said.

                        About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Gulf & St. Paul Say Insurance Provision Insufficient
-------------------------------------------------------------------
Parties in interest Gulf Underwriters Insurance Company and St.
Paul Fire and Marine Insurance Company submit the joinder in
support of Certain Insurers' Limited Objection to Plan Confirmation
and Reservation of Rights and objection to confirmation of the
Sixth Amended Joint Chapter 11 Plan of Reorganization of Purdue
Pharma L.P. and its Affiliated Debtors.

Gulf and St. Paul claim that the Plan in its current form should
not be confirmed because it appears to contain impermissible non
consensual third party releases of the Non-Debtor Purdue Parties
who owe indemnity and contribution obligations to Gulf and St.
Paul. By contrast, the non-consensual third party release of the
Non-Debtor Purdue Parties under this Plan does not satisfy any of
the criteria set forth by the Second Circuit in Metromedia, and is
therefore inappropriate in these circumstances.

Gulf and St. Paul state that the Plan's insurance neutrality
provision is contradictory and misleading. In particular, the
newly-added proviso provides that rights and obligations of the
Insurance Companies under the Purdue Insurance Policies are
expressly subject to the Plan, Plan Documents, the Confirmation
Order and, indeed any order or ruling of the Court.

Gulf and St. Paul may have contribution claims against other
insurers who hold MDT Insurance Policies. Section 10.11 of the Plan
serves to impair, alter, change, decrease, and modify the rights of
Gulf and St. Paul, in direct violation of the Plan's purported
insurance neutrality language, by limiting its potential
contribution rights to a setoff claim against the Master
Disbursement Trust, and enjoining any affirmative recovery from a
Settling MDT Insurer.

Gulf and St. Paul assert that the Debtors' proposed neutrality
provision is also insufficient to ensure that parties will not seek
to use any issue addressed in the bankruptcy proceeding offensively
or defensively in any insurance coverage litigation. The Plan must
be revised to make clear that all claims and defenses of any
Insurance Companies shall be preserved for resolution outside the
bankruptcy case, and that all rights of Insurance Companies under
their policies remain unaffected by the Plan.

Attorneys for Gulf Underwriters:

     SIMPSON THACHER & BARTLETT LLP
     Bryce L. Friedman
     William T. Russell, Jr.
     David R. Zylberberg
     425 Lexington Avenue
     New York, NY 10017
     Tel: (212) 455-2000
     Fax: (212) 455-2502
     bfriedman@stblaw.com
     wrussell@stblaw.com
     david.zylberberg@stblaw.com

                     About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: John H. Stewart Opposes Sixth Amended Joint Plan
---------------------------------------------------------------
John H. Stewart, a general unsecured claimant with claims for
advancement of legal fees and expenses, objects to confirmation of
the Sixth Amended Joint Chapter 11 Plan of Reorganization of Purdue
Pharma L.P. and its Affiliated Debtors.

The Plan singles Stewart out for unfair treatment in violation of
Section 1123(a)(4). Specifically, the Plan provides that the Plan
Administration Trust will not reimburse Stewart's legal fees and
expenses because he previously invoked his Fifth Amendment right
against self-incrimination but will at the same time (a) reimburse
the legal fees of current and former directors, officers, employees
and authorized agents of the Debtors who have elected not to invoke
that right; and (b) permit other Class 11(c) claimants to recover
regardless of whether they have invoked that right.

In that regard, Stewart is not being given any opportunity—let
alone the same opportunity—for recovery. Moreover, the Plan
includes him as an Excluded Party merely because he invoked his
Fifth Amendment right against self incrimination. Accordingly,
Stewart objects to the Plan as violating Sections 1129(a)(1) and
1123(a)(4) of the Bankruptcy Code.

Attorneys for Creditor John H. Stewart:

     Kevin H. Marino
     John D. Tortorella
     John A. Boyle
     Roseann Bassler Dal Pra
     MARINO, TORTORELLA & BOYLE, P.C.
     437 Southern Boulevard
     Chatham, NJ 07928-1488
     (973) 824-9300

                      About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19
23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Opoid Settlement Plan Experiences DOJ Objections
---------------------------------------------------------------
Jef Feeley of Bloomberg News reports that Purdue Pharma LP's
bankruptcy plan to wipe out lawsuits against the opioid maker has
run into objections from the U.S. Justice Department, which is
challenging the broad protections it provides to members of the
Sackler family who own the drugmaker.  Lawyers for U.S. Attorney
Audrey Strauss in Manhattan and the Southern District of New York's
bankruptcy trustee contend litigation releases granted to the
Sacklers as part of Purdue’s Chapter 11 plan are too expansive to
pass muster with the U.S. Constitution.

                     About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.




QUANTUM VALVE: Wins Cash Collateral Access Thru Dec 31
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas,
Sherman Division, has authorized Quantum Valve and Oilfield
Solutions, LLC to, among other things, use the cash collateral of
Crestmark Bank, borrow money, and seek other financial
accommodations from the Bank until December 31, 2021.

Pending a final hearing, the Debtor may borrow up to $600,000,
which is the amount necessary to avoid immediate and irreparable
harm under Bankruptcy Rule 4001(c)(2).

The Debtor has an immediate need to use Cash Collateral, including
cash proceeds, to pay its employees and other operating expenses.

Crestmark, a division of MetaBank, National Association, an
asset-based lender, previously entered into financing arrangements
with the Debtor, Luke Reed and Black Fern Investments, LLC pursuant
to, among others, these documents:

     a. Amended and Restated Promissory Note (Line of Credit) dated
February 1, 2020;

     b. A Loan and Security Agreement and a Schedule to Loan and
Security Agreement each dated March 29, 2019, as amended by
Amendment No. 1 to Schedule to Loan and Security Agreement dated as
of June 18, 2019;

     c. Second Amended and Restated Promissory Note dated as of
February 1, 2020, in the stated principal amount of $3,485,348.22;

     d. Security Agreement (Term Loan) dated as of March 29, 2019,
as amended by Amendment No. 1 to Security Agreement (Term Loan)
dated as of February 1, 2020;

     e. The Personal Guaranty dated as of March 29, 2019 of John
Luke Reed; and the Company Guaranty dated as of March 29, 2019 from
Black Fern Investments, LLC, a Texas limited liability company;

     f. A UCC-1 Financing Statement covering all assets of the
Debtor was recorded on November 11, 2018 with the Texas Secretary
of State, Filing Number 18-0040805167.

As of July 7, 2021, the Debtor owed the Bank under the Line of
Credit Loan in the approximate amount of $1,136,627, and under the
Term Note in the approximate principal amount of $2,649,653, plus
interest, fees and costs allowed under the Pre-Petition Loan
Documents.

The Pre-Petition Indebtedness constitutes the valid and binding
obligations of Debtor and Guarantor to Bank and is secured by the
liens and security interests in all personal property of the
Debtor.

To secure the DIP Indebtedness (which includes that amount advanced
under the Interim Order if it becomes a final order), and as
adequate protection for and to protect the Bank against any
diminution in the value of the Pre-Petition Collateral: (a)
Borrower will make interest only monthly payments due under the
Term Note for six months from the Interim Order and will thereafter
continue monthly  payments in the approximate amount of
$106,258.94, when due; and (b) the Bank is granted, pursuant to
Section 364(c)(2) and 364(c)(3) of the Bankruptcy Code, a first
lien on the Debtor’s personal property of any kind and nature
whatsoever, whether now owned or hereafter acquired by Debtor, and
all proceeds, rents or profits thereof, including all of the
Pre-Petition Collateral and any unused or unearned retainers,
deposits, or prepaid items, subject to all existing, valid prior
liens.

All liens and security interests in the DIP Collateral granted to
Bank by the Order are deemed duly perfected and recorded under all
applicable laws as of the date thereof, and no notice, filing,
mortgage recordation, possession, further order or act will be
required to effect or continue such perfection, although Bank may,
in its sole discretion, and at Debtor's expense, make any filings
or recordations or other acts it deems appropriate with respect to
such perfection.

These events constitute an "Event of Default:"

     (a) An order dismissing the case, converting the case to
Chapter 7, appointing an examiner with expanded powers or a
trustee, or terminating the authority of the Debtor to conduct
business;

     (b) Failure of the Debtor to make any payment when due;

     (c) There is a default (other than payments) by the Debtor
under the Order or the Bank loan documents; or

     (d) The Debtor fails to make a payment then due and owing
after demand by the Bank.

A final hearing on the matter is scheduled for July 30 at 10 a.m.

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

          About Quantum Valve and Oilfield Solutions, LLC

Quantum Valve and Oilfield Solutions, LLC provides support
activities for the mining industry. The Debtor sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case
No. 21-40994) on July 12, 2021. In the petition signed by John Luke
Reed, chief executive officer, the Debtor disclosed up to $50
million in both assets and liabilities.

Judge Brenda T. Rhoades oversees the case.

Christopher J. Moser, Esq. at Quilling, Selander, Lownds, Winslett
and Moser, PC is the Debtor's counsel.

Crestmark, as lender, is represented by:

     Thomas E. Coughlin, Esq.
     Jaffe, Raitt, Heuer and Weiss
     27777 Franklin Road, Suite 2500
     Southfield, MI 48034
     Tel: (248) 351-3000


RADIOLOGY PARTNERS: Moody's Ups CFR to B3 & First Lien Loans to B2
------------------------------------------------------------------
Moody's Investors Service upgraded Radiology Partners, Inc.'s
ratings including Corporate Family Rating to B3 from Caa1,
Probability of Default Rating to B3-PD from Caa1-PD, first lien
senior secured rating to B2 from B3 and rating on the company's
senior unsecured notes to Caa2 from Caa3. The outlook was changed
to stable from positive.

The upgrade of Radiology Partners' ratings reflects a significant
recovery in patient volumes in recent months following very steep
declines in the second quarter of 2020 triggered by the coronavirus
pandemic. The upgrade also reflects the company's materially
expanded scale and geographic diversity after completing the
acquisition of the radiology business from MEDNAX, Inc.

The outlook change to stable reflects Moody's expectation that the
company will gradually reduce its leverage and strengthen its cash
flow. It also reflects an expectation that the company will be less
aggressive with its acquisition-led growth strategy going forward.

Following ratings were upgraded:

Issuer: Radiology Partners, Inc.

Corporate Family Rating upgraded to B3 from Caa1

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

$300 million senior secured first lien revolving credit facility
due 2024 to B2 (LGD3) from B3 (LGD3)

$1.4 billion ($1.3 billion outstanding) senior secured first lien
term loan due 2025 to B2 (LGD3) from B3 (LGD3)

$800 million senior secured notes due 2025 to B2 (LGD3) from B3
(LGD3)

$710 million senior unsecured notes due 2028 to Caa2 (LGD6) from
Caa3 (LGD5)

Outlook Actions:

Issuer: Radiology Partners, Inc.

The outlook was changed to stable from positive

RATINGS RATIONALE

Radiology Partners' B3 Corporate Family Rating reflects very high
financial leverage and execution risk in integrating MEDNAX
Radiology Solutions. The company has grown rapidly in the last five
years. This extremely rapid pace of growth carries significant
risk, including systems integration, financial reporting, and
people alignment. Moody's expects that the company's leverage will
remain very high in 7.0-8.0 times range in the next 12-18 months.
Moody's estimates that the company's debt/EBITDA was approximately
8.0 times for the last twelve months ended March 31, 2021,
including an add-back for lost earnings due to the pandemic.

Radiology Partner's liquidity is good, supported by $62 million in
cash and approximately $260 million availability under its $300
million revolving credit facility at the end of first quarter of
2021. Absent acquisitions and related integration and transaction
costs, Moody's believes that Radiology Partners has the potential
to generate over $100 million of free cash flow - more than enough
to cover mandatory debt amortization in the next 12 months.

Social and governance considerations are material to the rating,
given the substantial implications for public health and safety.
The company was heavily impacted by the coronavirus outbreak last
year and the recovery is still ongoing. The No Surprise Act, which
was signed into law in December 2020, will take the patient out of
the provider-payor dispute. That said, Moody's believes that the
company's direct exposure to potential surprise medical bill
legislation is limited given Radiology Partners has a limited
number of medical claims that are both out-of-network and balance
billed to patients. However, the company remains exposed to pricing
pressure as an indirect result of some surprise medical bill
proposals that would use median in-network rates as a benchmark. In
terms of governance, the company is -62% owned by three private
equity investors. The company's financial policies are expected to
remain aggressive reflecting its majority control by a private
equity investor. However, since physicians also own a significant
proportion of the company, they will also have a material influence
in deciding the company's policies. Over time, Radiology Partners
may need to provide liquidity to doctors as they retire which
raises the risk of cash outflows.

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

Ratings could be downgraded if the company's liquidity and/or
operating performance deteriorates, it fails to effectively
integrate acquired practices including the MEDNAX Radiology
Solutions acquisition, or if its financial policies become more
aggressive.

Ratings could be upgraded if Radiology Partners smoothly integrates
MEDNAX Radiology Solutions and other acquired practices.
Additionally, Moody's would consider an upgrade if the company's
adjusted debt/EBITDA is sustained below 6.5 times and the company
demonstrates the ability to sustainably generate positive free cash
flow.

Headquartered in El Segundo, CA, Radiology Partners, Inc. is one of
the largest physician-led and physician-owned radiology practices
in the U.S. Services provided include diagnostic and interventional
radiology. The company is 19.8% owned by New Enterprise Associates,
10.1% by Future Fund, 32.3% by Starr and the rest by physicians,
management and other investors. Management's projected 2021
revenues including the recent MEDNAX Radiology Solutions
acquisition are approximately $2.3 billion.

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


RAPID AMERICAN CORP: Sept. 9 Hearing on Plan, Disclosures Fixed
---------------------------------------------------------------
Judge David S. Jones approved the Disclosure Statement of
Rapid-American Corporation on July 16, 2021.  

Judge Jones fixed August 24, 2021, at 4 p.m. (prevailing Eastern
Time) as the Voting Deadline.

Objections or responses, if any, to confirmation of the Plan and/or
one or more of the Insurance Settlement Motions shall be filed and
served by August 24, 2021, at 4 p.m. (prevailing Eastern Time).

On or before August 31, 2021, at 4 p.m. (prevailing Eastern Time),
the Plan Proponents must file a consolidated reply, and parties in
interest must file objections or responses to Plan confirmation.

The Combined Hearing on the Disclosure Statement and Plan is set
for September 9, 2021, at 10 a.m. (prevailing Eastern Time).

A copy of the order is available for free at https://bit.ly/2UZv5u2
from Logan and Company, claims and balloting agent.

                    About Rapid-American Corp.

New York-based Rapid-American Corp. was formerly a holding company
with subsidiaries primarily engaged in retail sales and consumer
products and was never engaged in an asbestos business of any kind.
Through a series of merger transactions going back more than 45
years, Rapid has nevertheless incurred successor liability for
personal injury claims arising from plaintiffs' exposure to
asbestos- containing products sold by The Philip Carey
Manufacturing Company -- Old Carey -- as that entity existed prior
to June 1, 1967.

Rapid-American filed for Chapter 11 bankruptcy protection in
Manhattan (Bankr. S.D. N.Y. Case No. 13-10687) on March 8, 2013, to
deal with debt related to asbestos personal-injury claims.
Attorneys at Reed Smith LLP serve as counsel to the Debtor.  Logan
and Company, Inc. serves as the Debtor's claims and balloting
agent.

The Debtor disclosed assets in excess of $4,446,261 and unknown
liabilities.

On March 28, 2013, the United States Trustee appointed the Official
Committee of Unsecured Creditors.  The Committee retained Caplin
Drysdale, Chartered, as counsel.

Young Conaway Stargatt & Taylor, LLP, is counsel to Lawrence
Fitzpatrick, the Future Claimants' Representative.


REGUS CORP: To Liquidate Its Eight Locations in Chapter 11
----------------------------------------------------------
Law360 reports that a North American affiliate of temporary office
space rental company Regus Corp. has submitted a Chapter 11 plan to
the Delaware bankruptcy court that would liquidate eight of its
office center holding companies and fully settle the debts of the
remaining 98.

RGN-Group Holdings LLC filed the disclosure statement for its
Chapter 11 plan Monday, July 19, 2021, saying its proposed plan
includes a recently approved settlement that provides $1.5 million
to partially pay the claims of the unsecured creditors of the eight
subsidiaries slated for liquidation.

                      About RGN-Group Holdings

Headquartered in Chertsey, UK, Regus Group Plc was founded by the
current CEO Mark Dixon in 1989 and is the world's largest provider
of serviced offices and videoconferencing facilities.  Following
the acquisition of HQ Global Workplaces in 2004, it runs a network
of approximately 80,000 workstations in 55 countries around the
world.

RGN-Group Holdings, LLC and its affiliates are primarily engaged in
renting and leasing real estate properties in the U.S.

On Aug. 17, 2020, RGN-Group Holdings and and other U.S. affiliates
of Regus Group sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 20-11961). At the time of the
filing, RGN-Group Holdings disclosed total assets of $1,005,956,000
and total liabilities of $946,016,000.  

Judge Brendan Linehan Shannon oversees the cases.

The Debtors have tapped Faegre Drinker Biddle & Reath LLP as their
bankruptcy counsel, Alixpartners as financial advisor, Duff &
Phelps LLC as restructuring advisor, and Epiq Corporate
Restructuring LLC as claims and noticing agent.




RIC METUCHEN: Wins September 12 Plan Exclusivity Extension
----------------------------------------------------------
Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey extended the periods within which Debtor RIC
Metuchen, LLC has the exclusive right to file a plan of
reorganization and to solicit acceptances to September 12, 2021,
and November 11, 2021, respectively.

The Debtor filed an appeal of its property tax assessment. As of
the drafting of the motion to extend, a decision has not yet been
issued in that appeal. The outcome of this appeal will have a
significant impact on the Debtor's ability to propose a confirmable
plan, as property taxes are one of the Debtor's largest expenses.

Furthermore, the Debtor's objection to US Bank's claim would, if
successful, eliminate one of its largest creditors and its only
secured creditor. Regardless of the outcome of the motion,
resolving the claim dispute will significantly affect the Debtor's
plan because the treatment of any allowed claim by the US Bank will
likely steer the remainder of the plan since this is a single asset
real estate case.

Additionally, the Debtor's financial records have not had the
benefit of attention from a professional accountant or bookkeeper
for several years, and organizing the Debtor's finances has
required and continues to require substantial time and effort. The
time needed to review and prepare the Debtor's financials is
exacerbated by backups resulting from the Covid-19 pandemic as well
as the federal income tax deadline having been pushed back to May
17, 2021.

Like the debtors in Matter of Newark Airport/Hotel and In re Burns
& Roe, the Debtor also faced obstacles. The Debtor was involved in
legal proceedings as it appeals its tax assessment, has unresolved
contingencies in the form of a major claim objection against its
only secured creditor, and a couple of its professionals have not
yet had sufficient time to adequately perform their work.

The extension of the Debtor's exclusivity periods will not
prejudice its creditors. US Bank's claim is vastly over-secured and
acknowledges it is over secured in its Proof of Claim, valuing its
secured claim at $599,686.55 in 2026 and estimating the value of
the property at $835,000.00. On April 27, 2021, even more to the
point of US Bank being over secured, the Debtor obtained an
appraisal determining the value of the property to be $1,120,000.

The Debtor's other creditors are an affiliated entity to the Debtor
and the Small Business Association for an Emergency Injury Disaster
Loan under which repayment commences this month in the amount of
$191.

The extensions will allow the Debtor to propose a confirmable plan,
having the benefit of its professionals and a decision on its claim
objection by that time.

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

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

                               About RIC Metuchen

RIC Metuchen, LLC is a single asset real estate debtor (as defined
in 11 U.S.C. Section 101(51B)). It is the fee simple owner of a
property located at 16 Pearl St., Metuchen, N.J., having a
comparable sale value of $1.46 million.

RIC Metuchen sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D.N.J. Case No. 21-12075) on March 15, 2021. Peter
Klein, the sole member of 100% owner Realty Investment Capital NJX,
LLC, signed the petition. In the petition, the Debtor disclosed
assets of $1,464,035 and liabilities of $970,399.

The Honorable Michael B. Kaplan oversees the case. Boyle & Valenti
Law P.C. and Schneck Law Group, LLC serve as the Debtor's
bankruptcy counsel and special counsel, respectively.


RS AIR: Contribution, Sale and Insurance Proceeds to Fund Plan
--------------------------------------------------------------
RS Air, LLC filed with the Bankruptcy Court a Small Business
Subchapter V Third Amended Chapter 11 Plan and Disclosure
Statement.

To fund the Plan, the Debtor's member, Stephen G. Perlman, will
make a new value contribution in a sum sufficient to pay allowed
administrative claims in full (Admin Contribution), plus an
additional $100,000 for distribution to creditors (Creditor
Contribution, and, together with the Admin Contribution, the New
Value Contribution).

In addition to the New Value Contribution, the Debtor will use, as
available, the proceeds from the following assets:

(1) Insurance claim proceeds, if any, from the insurance demand
made by RS Air on USAIG April 20, 2021; and

(2) if the Bankruptcy Court's ruling on setoff is reversed on
appeal, the value of (a) RS Air's fractional aircraft interests,
approximately $350,000 (Insurance Claim Proceeds) and (b) its
operating fund credits from NetJets of $15,692, for a total of no
less than $365,692 (the Sale Proceeds).  NetJets is a private
business jet charter company that sells fractional jet interests,
charter jet flight time, and aircraft management services, and with
which the Debtor has been doing business since the Debtor's
founding in 2001.  

Any recovery of Insurance Claim Proceeds and Sale Proceeds will be
used first to reimburse Mr. Perlman for the Admin Contribution,
with the balance of any net remaining proceeds distributed to Class
3.1 non-insider general unsecured creditors. The percentage return
to the Class 3.1 creditors will largely be a function of whether
NetJets continues its litigation assault against the Debtor.

Further, administrative expenses may be reimbursed by an award(s)
of attorneys' fees to the Debtor pursuant to the contract between
the Debtor and NetJets, statute, or any other applicable law.  The
Debtor reserves the right to seek attorneys' fees from NetJets
pre-confirmation or post-confirmation, including the contracts
between the Debtor and NetJets, statute, or otherwise.

The first Plan payment to creditors will be paid from the Creditor
Contribution. In addition, to the extent that there are Insurance
Claim Proceeds and Sale Proceeds (collectively, the Proceeds),
non-priority unsecured creditors holding allowed claims will
receive pro-rata distributions from those Proceeds within fourteen
days after payment of unpaid contingency and post-confirmation fees
that exist as of the time of receipt of the Proceeds (e.g., the
fees of contingency fee counsel and post-confirmation fees of the
Debtor's counsel and the Subchapter V Trustee).

                         Rift with NetJets

NetJets Aviation, Inc., NetJets Sales, Inc., and NetJets Services,
Inc. (collectively, NetJets) are the principal claimants in the
Debtor's bankruptcy case.  

In the summer of 2017, an aircraft (the Citation X) in which the
Debtor owned a one-sixteenth interest crashed while under NetJets'
control, leading to a breakdown in their business relationship.
The Citation X was involved in a non-injury runway crash in July
2017 that apparently totaled the aircraft.  The Debtor said NetJets
concealed the crash from the Debtor and falsely denied any role in
the crash.  According to the Debtor, NetJets sought to force the
Debtor to accept an aircraft substitution agreement, which the
Debtor thought was improper under the parties' contract and to
block the Debtor's access to the insurance policy to which the
Debtor was entitled.  NetJets and the Debtor were unable to
consensually resolve the issues that arose following the crash.  In
June 2018, NetJets sued the Debtor in Ohio state court for breach
of contract.  The Debtor counterclaimed for fraud and breach of
contract.  The Debtor lost litigation funding on the eve of trial
and filed bankruptcy following the failure of pretrial settlement
discussions.

                         Classes of Claims

  * Class 1 - Priority claims excluding claims for administrative
expense; priority tax claims; statutory fees; and prospective
quarterly fees.

  * Class 2 - Secured claims

  * Class 3.1 – Non-insider non-priority unsecured creditors

The holders of Class 3.1 claims will receive, as full satisfaction
of their claims, pro-rata distributions from the Insurance Claim
Proceeds, the Sale Proceeds, and the Creditor Contribution.

Upon confirmation of the Plan, the claim of NetJets (filed as Claim
1) will be deemed allowed as filed and the Debtor's counterclaims
will be deemed waived.  To the extent that the Plan is not
confirmed, NetJets' claim remains subject to objection, and the
Debtor or a trustee will be able to assert the Debtor's
counterclaims.

  * Class 3.2 – Insider non-priority unsecured creditors

Class 3.2 is subordinated in its entirety to Class 3.1, or may be
converted to equity at the Debtor's election, and shall not receive
any payment under the Plan unless all Class 3.1 claims are paid in
full.

  * Class 4 – Equity security holders of the Debtor

The equity holder of the Debtor will not receive any economic
recovery under the Plan but shall retain his equity interests and
his treatment shall comply with Section 124 of the Bankruptcy
Code.

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


                         About RS Air LLC

RS Air, LLC, a Delaware limited liability corporation, use and
provide aircraft transportation services, as well as acquire
interests in aircraft.  The company sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-51604) on
Nov. 6, 2020, listing under $1 million in both assets and
liabilities.  Judge M. Elaine Hammond oversees the case.  Jennifer
C. Hayes, Esq., at Finestone Hayes LLP, serves as the Debtor's
legal counsel.



SEADRILL LTD: Can't Force Offshore Oil Rid Auction, Says Creditor
-----------------------------------------------------------------
Law360 reports that offshore oil driller Seadrill Ltd. is asking a
Texas bankruptcy judge to reject a creditor's request for standing
to put the company's North Atlantic oil rigs up for sale, saying
the creditor is attempting to overrule Seadrill's Chapter 11 plans
with no legal basis.

In a motion filed Tuesday, July 20, 2021, Seadrill said the claim
by investment firm Strategic Value Partners that it has standing to
require the sale of Seadrill North Atlantic Drilling Holdings Ltd.
's assets has no basis in case law.

                      About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry. As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack-up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt. It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs. Seadrill said it is
in talks with lenders on a restructuring of its $5.7 billion bank
debt.

Seadrill Partners LLC, a limited liability company formed by
deep-water drilling contractor Seadrill Ltd. to own, operate and
acquire offshore drilling rigs, along with its affiliates, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-35740) on
Dec. 1, 2020, after its parent company swept one of its bank
accounts to pay disputed management fees. Mohsin Y. Meghji,
authorized signatory, signed the petitions.

On Feb. 7, 2021, Seadrill GCC Operations Ltd., Asia Offshore
Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore  Rig 2
Limited, and Asia Offshore Rig 3 Limited sought Chapter 11
protection. Seadrill GCC estimated $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

Additionally, on Feb. 10, 2021, Seadrill Limited and 114 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code with the Court. The lead case
is In re Seadrill Limited (Bankr. S.D. Tex. Case No. 21-30427).

Seadrill Limited disclosed $7.291 billion in assets against $7.193
billion in liabilities as of the bankruptcy filing.

In the new Chapter 11 cases, Kirkland & Ellis LLP is counsel for
the Debtors. Houlihan Lokey, Inc., is the financial advisor.
Alvarez & Marsal North America, LLC, is the restructuring advisor.
The law firm of Jackson Walker L.L.P. is co-bankruptcy counsel. The
law firm of Slaughter and May is co-corporate counsel.
Advokatfirmaet Thommessen AS is serving as Norwegian counsel.
Conyers Dill & Pearman is serving as Bermuda counsel. Prime Clerk
LLC is the claims agent.


SEADRILL LTD: Transocean Group and Noble Corp Vying for Its Assets
------------------------------------------------------------------
Noble Corp (NE.N) and a consortium that includes Transocean Ltd
(RIGN.S) and Dolphin Drilling (FOEAF.PK) are competing to acquire
the assets of Seadrill Ltd (SDRL.OL), the bankrupt offshore oil
driller controlled by Norwegian-born tycoon John Fredriksen,
Reuters reported, citing people familiar with the matter.

Seadrill is trying to emerge from its second U.S. Chapter 11
bankruptcy in four years: like many in the industry, it expanded
its drilling rigs too aggressively in the mid-2010s to withstand a
subsequent plunge in energy prices and rig hire rates. It is
negotiating a deal to restructure its more than $7 billion debt
pile in exchange for handing company control to its creditors.

U.S. Chapter 11 bankruptcy proceedings temporarily shield companies
from creditor claims, allowing firms to maintain operations while
providing time to agree on debt restructuring plans, which must in
turn be approved by a court.

Any acquisition offer would have to provide more value to the
creditors involved than the restructuring plan under negotiation.
For buyers, acting now means they could scoop up all Seadrill's
assets without taking on any of its debt pile.

The consortium comprising Transocean, Dolphin Drilling and a third
party, whose identity could not be learned, lodged a bid for
Seadrill in early-July, the sources said.

The offer consists of cash, shares in Transocean and an agreement
to take on some of Seadrill's existing debt, one of the sources
said. Its value could not be learned.

The bid is still under consideration by the company, the source
added.

Noble submitted a bid in May for the company's asset base,
according to a July 1 bankruptcy court filing. While the document
shows the offer was discussed by the company and its advisers, it
did not detail the result of those considerations.

Noble, which itself emerged from bankruptcy in February, remains
interested in pursuing that bid, one of the sources said.

In a statement to Reuters, Seadrill said it recognized the need for
consolidation within the industry and would play an active role,
once its restructuring was completed later this year.

"Seadrill remains focused on the restructuring of our balance
sheet," the statement went on, adding the company was working
towards filing its Plan Support Agreement, with the backing of its
secured lenders. The agreement legally binds signatories to
consider the formal restructuring plan.

                        About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry. As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack-up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt. It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs. Seadrill said it is
in talks with lenders on a restructuring of its $5.7 billion bank
debt.

Seadrill Partners LLC, a limited liability company formed by
deep-water drilling contractor Seadrill Ltd. to own, operate and
acquire offshore drilling rigs, along with its affiliates, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-35740) on
Dec. 1, 2020, after its parent company swept one of its bank
accounts to pay disputed management fees.  Mohsin Y. Meghji,
authorized signatory, signed the petitions.

On Feb. 7, 2021, Seadrill GCC Operations Ltd., Asia Offshore
Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore  Rig 2
Limited, and Asia Offshore Rig 3 Limited sought Chapter 11
protection.  Seadrill GCC estimated $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

Additionally, on Feb. 10, 2021, Seadrill Limited and 114 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code with the Court. The lead case
is In re Seadrill Limited (Bankr. S.D. Tex. Case No. 21-30427).

Seadrill Limited disclosed $7.291 billion in assets against $7.193
billion in liabilities as of the bankruptcy filing.

In the new Chapter 11 cases, Kirkland & Ellis LLP is counsel for
the Debtors.  Houlihan Lokey, Inc., is the financial advisor.
Alvarez & Marsal North America, LLC, is the restructuring advisor.
The law firm of Jackson Walker L.L.P. is co-bankruptcy counsel.
The law firm of Slaughter and May is co-corporate counsel.
Advokatfirmaet Thommessen AS is serving as Norwegian counsel.
Conyers Dill & Pearman is serving as Bermuda counsel. Prime Clerk
LLC is the claims agent.



SHAMROCK FINANCE: Seeks December 31 Plan Exclusivity Extension
--------------------------------------------------------------
Debtor Shamrock Finance LLC asks the U.S. Bankruptcy Court for the
District of Massachusetts, Eastern Division to extend the Debtor's
exclusive periods to file a plan through and including December 31,
2021, and to solicit acceptances of the plan through and including
February 28, 2022.

The Debtor submits cause exists to extend the Exclusivity Deadlines
as requested above. The most relevant factors mentioned below are
the final three factors.

First, the Debtor submits it is making good faith progress towards
reorganization and has a reasonable prospect of formulating and
obtaining confirmation of a consensual chapter 11 plan. The Debtor
was consumed during approximately the first two months of this case
with its successful resistance of the efforts of the United States
Trustee ("UST") to appoint a chapter 11 trustee.

As the Court is aware, the Court appointed an examiner as a
consensual resolution of the UST's motion for the appointment of a
trustee. Since then, Shamrock has:

(i) been engaged in negotiations and discussions with the Ad-Hoc
Committee of Unsecured Creditors ("Ad Hoc Committee") on the terms
of a consensual chapter 11 plan, and
(ii) been required to address various requests for documents and
information by the examiner. The Debtor remains hopeful it will
file a consensual plan and obtain confirmation of a consensual
chapter 11 plan within the Exclusivity Deadlines as requested.

Second, the Debtor is paying its bills as they come due (other than
for professional fees that are conditioned on prior court
approval).

Third, the Debtor is not seeking to extend the deadline to pressure
its creditors but to continue working with its creditors towards a
consensual plan.

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

                            About Shamrock Finance

Shamrock Finance, LLC -- https://www.shamrockfinance.com -- is an
auto sales finance company in Ipswich, Massachusetts formed on
March 28, 2008.  As an automobile inventory "floor plan" lender,
Shamrock provides floorplan financing to independent car
dealerships in the New England area Dealers are primarily located
in Massachusetts, with a small number in New Hampshire,
Connecticut, and Rhode Island.

Shamrock Finance sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 21-10315) on March 12,
2021. The sole member and manager, Kevin Devaney, signed the
petition. In the petition, the Debtor disclosed total assets of up
to $10 million and total liabilities of up to $50 million.  

Judge Frank J. Bailey oversees the case.

The Debtor tapped Jeffrey D. Sternklar LLC as its bankruptcy
counsel, the Law Offices of James J. McNulty as special counsel,
and Mid-Market Management Group, Inc. as a business advisor.

Kevin P. Clancy is the examiner appointed in Shamrock Finance,
LLC's bankruptcy case. The examiner is represented by Riemer &
Braunstein, LLP.


SHARITY MINISTRIES: Taps Baker & Hostetler as Bankruptcy Counsel
----------------------------------------------------------------
Sharity Ministries, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Delaware to hire Baker & Hostetler LLP to
serve as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) advising the Debtor of its rights and obligations with
respect to its various business arrangements and the impact of the
bankruptcy filing;

     (b) advising the Debtor with respect to, and assisting in the
negotiation and documentation of, forbearance agreements,
settlement agreements, and related transactions with the Debtor's
service providers;

     (c) reviewing the nature and validity of any claims asserted
against the Debtor's property and advising the Debtor concerning
the enforceability of such claims;
    
     (d) advising the Debtor concerning corporate and tax-exempt
tax matters;

     (e) advising the Debtor regarding the reorganization process;
and

     (f) advising the Debtor with respect to regulatory,
investigatory, and litigation matters initiated or ongoing in
connection with the case.

The firm's hourly rates are as follows:

     Partners      $445 - $973 per hour
     Associates    $445 - $785 per hour
     Paralegals    $255 - $305 per hour

On July 2, 2021, the Debtor paid $300,000 to the law firm as a
retainer fee.

Jorian Rose, Esq., a partner at Baker & Hostetler, disclosed in a
court filing that he is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:

     Jorian L. Rose, Esq.
     Baker & Hostetler LLP
     45 Rockefeller Plaza
     New York, NY 10111
     Tel.: +1.212.589.4681
     Fax: +1.212.589.4201
     Email: jrose@bakerlaw.com

                   About Sharity Ministries Inc.

Established in 2018, Sharity Ministries Inc. is a 501(c)(3)
faith-based nonprofit corporation in Roswell, Ga., that operates a
health care sharing ministry, a medical cost-sharing arrangement
among persons of similarly and sincerely held religious beliefs.

Sharity Ministries sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 21-11001) on July 8, 2021.
As of March 31, 2021, the Debtor had total assets of $4,496,871 and
total liabilities of $2,922,214.  Judge John T. Dorsey oversees the
case.

The Debtor tapped Landis Rath & Cobb, LLP and Baker & Hostetler,
LLP as legal counsel, and SOLIC Capital Advisors, LLC as
restructuring advisor.  Neil Luria of SOLIC serves as the Debtor's
chief restructuring officer.  BMC Group, Inc. is the claims and
noticing agent and administrative advisor.


SHIFT4 PAYMENTS: New Convertible Notes No Impact on Moody's B2 CFR
------------------------------------------------------------------
Moody's Investors Service said Shift4 Payments, LLC's proposed
issuance of $500 million of convertible senior notes is credit
negative but has no immediate effect on the Corporate Family Rating
of B2, Probability of Default Rating of B2-PD, senior secured
revolver rating of Ba2, senior unsecured notes rating of Ba3 or the
stable rating outlook. The convertible notes are being issued in
conjunction with an equity offering by the company and a sale of
the remaining equity position by Searchlight Capital Partners,
L.P.

"While we believe that Shift4 has strong EBITDA growth potential,
pro forma total leverage as of June 2021 is very high at about 14x"
said Peter Krukovsky, Moody's Senior Analyst. "The convertible
notes' conversion structure contemplates payment in cash at minimum
up to the principal amount. Available cash balances provide
support, but there is meaningful event risk of a large
high-multiple acquisition. A reduction in cash to debt ratio below
30% without a simultaneous reduction in total leverage below 6.5x
could result in a downgrade of the ratings."

RATINGS RATIONALE

Shift4 is executing on an aggressive growth strategy which
leverages differentiated vertical-specific integrated payments
solutions focused largely on hospitality markets such as
restaurants and hotels. Prior to the coronavirus pandemic (COVID),
Shift4's organic growth rate of 14% in 2019 was meaningfully above
average for the merchant acquiring industry. In 2020, the company
was successful in gaining market share even as the pandemic caused
a substantial decline in payment volumes in its target markets, and
was able to limit revenue decline for the year to low single
digits. In 2021, the building recovery in hospitality markets and
continued share gains should result in strong revenue growth.
However, Shift4's market share gain strategy requires significant
investment in operating expenses and high capital spending, which
constrain profit margins and free cash flow generation compared to
merchant acquiring industry leaders.

Shift4 has raised a substantial amount of equity and debt capital
over the course of 2020, and is now executing another large capital
raise to support its growth strategy. Following the convertible
notes and equity issuance, Moody's estimates adjusted total
leverage as of LTM June 2021 at about 14x, net leverage at about
2.5x, and cash to debt of about 80%. Shift4 intends to use the cash
to acquire assets in transactions of various sizes. Net leverage
could increase substantially if Shift4 were to make a large
acquisition at a high valuation multiple. The company has been
successful historically in acquiring small assets that reinforced
its franchise at moderate multiples net of synergies. However, at
larger transaction sizes the required valuation multiples may be
higher and synergies may be smaller relative to transaction values.
Executing multiple acquisitions over a short period of time
inherently involves execution and integration risks. Moody's
expects organic growth and acquisitions to drive total leverage
down over the coming years. Management does not plan to use the
cash for capital returns. Reduction in cash balances that does not
result in substantially lower total leverage would pressure the
ratings.

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

The stable outlook reflects Moody's expectation of total leverage
decline over the next 12-18 months driven by organic EBITDA growth
and deployment of cash balances for acquisitions. The ratings could
be upgraded if Shift4 generates consistent organic revenue and
EBITDA growth, and if Moody's adjusted total leverage is sustained
below 5.0x and FCF/debt is sustained in the mid-single digits. The
ratings could be downgraded if Shift4 experiences a significant
growth deceleration or a profitability decline, or if cash to debt
ratio declines below 30% without a simultaneous reduction in total
debt/EBITDA below 6.5x.


SKY STEEL: Wins Cash Collateral Access Thru July 27
---------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, has authorized Sky Steel, Inc. to use cash
collateral on an interim basis through July 27, 2021.

The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the United
States Trustee for quarterly fees; (b) the current and necessary
expenses set forth in the budget; and (c) additional amounts as may
be expressly approved in writing by Creditor (which approval will
not be unreasonably withheld) within 48 hours of the Debtor's
request. The Debtor will be entitled to prompt court hearings on
any disputed proposed expenditures.

The Secured Creditors will have a perfected post-petition lien
against cash collateral to the same extent and with the same
validity and priority as the pre-petition lien, without the need to
file or execute any documents as may otherwise be required under
applicable non-bankruptcy law.

The Debtor is also directed to maintain insurance coverage for its
property in accordance with the obligations under the loan and
security documents with Secured Creditors.

A continued preliminary hearing on the matter is scheduled for July
27 at 2:45 p.m.

A copy of the order and the Debtor's budget from June to November
is available for free at https://bit.ly/3iCgjRP from
PacerMonitor.com.

The Debtor projects $103,711.38 in gross sales and $63,078 in total
operating expenses.

                       About Sky Steel, Inc.

Sky Steel, Inc. is in the structural steel erection business. It
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. M.D. Fla. Case No. 21-02638) on June 9, 2021. In the
petition signed by Stephen P. Collins, authorized representative,
the Debtor disclosed $75,908 in assets and $1,689,320 in
liabilities.

Judge Lori V. Vaughan oversees the case.

Jeffrey S. Ainsworth, Esq., at Bransonlaw, PLLC is the Debtor's
counsel.



SNL BALDWIN: September 2 Disclosure Statement Hearing Set
---------------------------------------------------------
Judge Louis A. Scarcella entered an order fixing September 2, 2021
at 11 p.m. as the hearing date on the Disclosure Statement of SNL
Baldwin Realty, LLC.  The hearing will be conducted in Courtroom
970 of the Alfonse M. D'Amato Federal Courthouse, 290 Federal
Plaza, Central Islip, New York.  Objections must be filed no later
than August 26.

A copy of the order is available for free at https://bit.ly/3wY0mec
from PacerMonitor.com.

                     About SNL Baldwin Realty

SNL Baldwin Realty, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D.N.Y. Case No. 20-73348) on Nov. 7, 2020, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by the Law Office of Michael G. Mcauliffe.  Judge Louis
A. Scarcella is assigned to the case.


SOMETHING SWEET: U.S. Trustee Appoints Creditors' Committee
-----------------------------------------------------------
The U.S. Trustee for Region 3 on July 21 appointed an official
committee to represent unsecured creditors in the Chapter 11 case
of Something Sweet Acquisition, Inc.

The committee members are:

     1. Choptank Transport, Inc.
        Attention: James Lee
        3601 Choptank Road
        P.O. Box 99
        Preston, MD 21655
        Phone: (410) 673-1240
        E-mail: james.lee@choptanktransport.com

     2. Bunge Loders Croklaan
        Attention: Greg Zemaitis
        1391 Timberlake Manor Parkway
        Chesterfield, MO 63017
        Phone: (636) 292-2604
        E-mail: Greg.Zemaitis@Bunge.com

     3. Archer Daniels Midland Co.
        Attention: Mark Speiser
        4666 Faries Parkway
        Decatur, IL 62526
        Phone: (217) 451-7546
        E-mail: Mark.Speiser@adm.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                 About Something Sweet Acquisition

Something Sweet Acquisition, Inc., a grocery and related product
merchant wholesaler based in New Haven, Conn., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
21-10992) on July 20, 2021.  At the time of the filing, the Debtor
had between $1 million and $10 million in both assets and
liabilities.  Judge Benjamin A. Kahn oversees the case.  Bielli &
Klauder LLC and Peakstone Group serve as the Debtor's legal counsel
and investment banker, respectively.


SPI ENERGY: Appoints New SVP for Investor Relations and Finance
---------------------------------------------------------------
SPI Energy Co., Ltd. has appointed Randolph Conone as its new SVP
of Investor Relations and Finance beginning on July 16, 2021.

Conone brings three decades of experience as a finance and legal
professional, including tenures as a hedge fund portfolio manager,
investment banker, corporate attorney, and Fortune 50 executive
officer.  He was the portfolio manager of the Occasio Fund, a US
long/short equity hedge fund, an investment banker at Bear Stearns,
where he focused on public company technology and healthcare
issuers and at Oberon Securities where he focused on transactions
for private companies in the healthcare, consumer, and technology
industries, an Assistant General Counsel at International Paper
Company, and he practiced as a corporate attorney in Chicago.
Conone earned an MBA in Finance from the University of Chicago -
Booth School of Business where he was on the Dean's List, a JD from
the University of Virginia School of Law and a BSBA in Finance,
Summa Cum Laude, from Ohio State University.

"I am excited to join SPI as it continues to execute on its global
growth strategy in the high growth solar and EV markets," said
Conone.  "Denton and the SPI team have built a formidable
foundation in these burgeoning industries, and I look forward to
being a valuable contributor to the Company's ongoing success as it
continues to capitalize on significant opportunities to accelerate
growth and build lasting shareholder value."

                       About SPI Energy Co.

SPI Energy Co., Ltd. (SPI) is a global renewable energy company and
provider of solar storage and electric vehicle (EV) solutions for
business, residential, government, logistics and utility customers
and investors.  The Company provides a full spectrum of EPC
services to third-party project developers, as well as develops,
owns and operates solar projects that sell electricity to the grid
in multiple countries, including the U.S., the U.K., Greece, Japan
and Italy.  The Company has its US headquarters in Santa Clara,
California and maintains global operations in Asia, Europe, North
America and Australia.  SPI is also targeting strategic investment
opportunities in green industries such as battery storage and
charging stations, leveraging the Company's expertise and growing
base of cash flow from solar projects and funding development of
projects in agriculture and other markets with significant growth
potential.

SPE Energy reported a net loss attributable shareholders of $6.51
million in 2020, a net loss attributable to shareholders of $15.26
million in 2019, and a net loss attributable to shareholders of
$12.28 million in 2018.  As of Dec. 31, 2020, the Company had
$217.03 million in total assets, $168.65 million in total
liabilities, and $48.38 million in total equity.


SRI VARI: May Use Cash Collateral Thru August 10
------------------------------------------------
Judge J. Craig Whitley authorized Sri Vari CRE Development, LLC to
continue using the cash collateral through 11:59 p.m. on the date
of the continued hearing consistent with the terms of the First
Interim Order and the Budget.

The Court shall hold the continued hearing on August 10, 2021 at
9:30 a.m. in the U.S. Bankruptcy Court, Charles Jonas Federal
Building, JCW Courtroom 2B, 401 West Trade Street, in Charlotte,
North Carolina.

A copy of the order is available for free at https://bit.ly/3kJgfT0
from PacerMonitor.com.

                  About Sri Vari CRE Development

Sri Vari CRE Development, LLC is a limited liability company formed
in 2017 under the laws of the State of North Carolina. The company
owns and operates the Courtyard by Marriott branded hotel located
at 8536 Outlets Boulevard in Charlotte, N.C.

Sri Vari CRE Development sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. N.C. Case. No. 21-30250) on April 29,
2021.  In the petition signed by Anuj N. Mittal, manager, the
Debtor disclosed up to $50 million in assets and up to $10 million
in liabilities.  Judge Laura T. Beyer presided over the case before
Judge J. Craig Whitley took over.  The Debtor tapped Richard S.
Wright, Esq., at Moon Wright & Houston, PLLC, as legal counsel and
Greerwalker, LLP as financial advisor.



TALEN ENERGY: Fitch Lowers LT IDR to 'B-' & Alters Outlook to Neg.
------------------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Rating
(IDR) for Talen Energy Supply, LLC by one notch to 'B-' from 'B'
and revised the Rating Outlook to Negative from Stable.
Concurrently, Fitch has downgraded Talen's senior secured debt to
'BB-'/'RR1' from 'BB'/'RR1' and the senior unsecured notes
including the outstanding $100 million Pennsylvania Economic
Development Financing Authority (PEDFA) Series 2009A bonds to
'B-'/'RR4' from 'B'/'RR4'. Recovery Ratings (RR) 'RR1' indicates
outstanding recovery (in the range of 91%-100%) and 'RR4' indicates
average recovery (in the range of 31%-50%) in the event of
default.

The downgrade of Talen's IDR reflects the hit to its profitability
and FCF profile following the disappointing 2022/2023 PJM capacity
auction results and the diminished likelihood of meaningful equity
support to right size the highly leveraged capital structure. Fitch
expects Talen's recourse debt/EBITDA to be between 7.1x and 7.6x
and FFO fixed-charge coverage to be between 1.5x and 1.8x over
2021-2023, well outside the negative rating sensitivities of 7.0x
and 2.0x, respectively.

The Negative Outlook reflects continued uncertainty around future
capacity auctions, weak recovery in power demand and Talen's
constrained access to capital.

KEY RATING DRIVERS

EBITDA Under Pressure: Fitch's revised EBITDA expectations for
Talen are lower than Fitch's prior forecast driven by disappointing
outcome in the PJM capacity auction for the 2022/2023 planning year
and the financial hit experienced from Winter Storm Uri.

Talen cleared approximately 8,480 MWs in the 2022/2023 PJM Base
Residual Auction at a weighted average price of $101.83/MW-day
compared with 9,656 MWs cleared in the 2021/2022 auction at a
weighted average price of $148.70/MW-day. This is expected to drive
an approximately $209 million decline in auction revenue, which
will weigh over 2022-2023 EBITDA. 2021 EBITDA is being affected by
a $78 million hit due to Winter Storm Uri.

Elevated Leverage: Fitch expects Talen's recourse debt/EBITDA to be
between 7.1x and 7.6x over 2021-2023. Fitch includes only recourse
debt in its leverage calculation and includes distribution from
Lower Mt. Bethel - Martins Creek non-recourse subsidiary in its
adjusted EBITDA calculation. Fitch assumes that Talen will pay down
2021-2023 maturing debt using cash on hand and Fitch does not
expect Talen to make a distribution to its owners over this time
period.

Adequate liquidity at present and minimal debt maturities over
2021-2023 provide some runway before Talen meets a maturity wall
over 2024-2026. Absent a material improvement in power prices and
capacity auction outcomes, management may need to undertake
liability management actions to right size the capital structure.

Tilt Toward Cleaner Businesses: At its May ESG investor day,
management unveiled several initiatives that direct its future
investments toward renewable, battery storage, data centers and
mining of digital currencies. These initiatives, along with the
prior articulated transition away from coal, a commitment to exit
all coal exposure at its wholly-owned plants by 2025 and jointly
owned plants by 2028, positions the company favorably to attract
third-party equity and joint venture partners.

The new businesses will be housed in a new subsidiary, named
Cumulus Infrastructure, and management is targeting $600 million to
$800 million of new equity at the holding company, Talen Energy
Corporation. While management expressed an intent to raise
incremental equity for deleveraging and funding decarbonization
capex at Talen, Fitch believes that the likelihood is low given the
quantum that is needed to right size Talen's capital structure,
especially following the disappointing capacity auction results.

Longer Term Outlook Uncertain: Similar to other merchant power
generation companies, Talen's generation fleet is exposed to
changes in energy and capacity prices, which creates volatility in
EBITDA and FCF. As a positive offset to the poor capacity auction
results, the recent strength in natural gas prices provides
opportunities for management to layer in opportunistic hedges,
which offer upside to Fitch's estimates. As of April 22, 2021,
Talen was 92% hedged for the balance of 2021, followed by 49%
hedged for 2022 and 21% for 2023. Fitch expects management to
continue to exercise tight O&M and capex control in order to limit
its FCF burn over Fitch's rating horizon.

Recovery Analysis: The individual security ratings at Talen are
notched above or below the IDR as a result of the relative recovery
prospects in a hypothetical default scenario. The recovery analysis
assumes Talen would be considered a going-concern in bankruptcy.
Fitch has assumed a 10% administrative claim.

Fitch values the power-generation assets that guarantee the parent
debt using a net present value (NPV) analysis. A similar NPV
analysis is used to value the generation assets that reside in
nonguarantor subsidiaries, and the excess equity value is added to
the parent recovery prospects. The generation asset NPVs vary
significantly based on future gas price assumptions and other
variables, such as the discount rate and heat rate forecasts in
PLM, ERCOT and the Northeast.

For the NPV of generation assets used in Fitch's recovery analysis,
Fitch uses the plant valuation provided by its third-party power
market consultant, Wood Mackenzie, as well as Fitch's own gas price
deck and other assumptions. The NPV analysis for Talen's generation
portfolio yields approximately $140/kW for PJM Coal, $600/kw for
Susquehanna nuclear and an average of $400/kW for the natural gas
generation assets.

DERIVATION SUMMARY

Talen is unfavorably positioned compared with Vistra Energy Corp.
(BB+/Stable) and Calpine Corporation (B+/Stable) with respect to
size, asset composition and geographic exposure. Vistra is the
largest independent power producer in the country with
approximately 39 GW of generation capacity compared to Calpine's 26
GW and Talen's 13GW. Talen lacks geographical diversity but Fitch
considers PJM as a constructive market for power generators given
the capacity auction construct.

Vistra benefits from its ownership of large and well entrenched
retail electricity businesses in contrast to Calpine, which has a
much smaller retail business. Talen has a modest retail business
focused on C&I customers. Calpine's younger and predominant natural
gas fired fleet bears less operational and environmental risk
compared with nuclear and coal generation assets owned by Vistra
and Talen. In addition, Calpine's EBITDA is more resilient to
changes in natural gas prices and heat rates as compared to its
peers.

Talen's forecast leverage is the highest among peers, which
positions its rating lower than peers. Fitch forecasts Talen's
debt/EBITDA leverage ratio, excluding non-recourse subsidiaries,
above 7.0x, which is weaker than Calpine's 5.0x and significantly
weaker than Vistra's 3.0x.

KEY ASSUMPTIONS

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

-- Modest recovery in energy prices in PJM and ERCOT over 2021
    2023;

-- 2022/2023 PJM capacity auction results as announced and
    assuming modestly better results for the 2023/2024 auction;

-- Capex averaging $225 million annually including coal
    conversion capex of $200 million;

-- No dividend to the owners;

-- 2021-2023 maturities paid using cash on hand and FCF.

RATING SENSITIVITIES

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

-- The Rating Outlook can be stabilized if recourse debt/adjusted
    EBITDA is below 7.0x on a sustainable basis.

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

-- Negative FCF generation on a sustained basis.

-- Liability management activities that diminish the recovery for
    the unsecured note holders.

-- Any incremental secured leverage and/or deterioration in NPV
    of the generation portfolio that lead to downward rating
    pressure on the unsecured debt.

BEST/WORST CASE RATING SCENARIO

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

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Talen had approximately $1.184 billion of
liquidity available, as of March 31, 2021, including $686 million
of unrestricted cash, $305 million availability under the $690
billion revolving credit facility and $193 million availability
under two unsecured LOC facilities that provide for issuance of
LOCs of up to $100 million each. The two LOC facilities expire in
December 2021 and June 2023.

The revolving credit facility matures in March 2024. The available
revolver capacity is subject to 4.25x senior secured leverage ratio
covenant at each quarter end, which stood at 3.0x as of March 31,
2021. There are modest debt maturities over 2021-2023, which Fitch
assumes will be paid off using cash on hand.

ISSUER PROFILE

Talen Energy Supply (Talen), a subsidiary of Talen Energy
Corporation, is an independent power producer (IPPs) that owns
approximately 13,000 MW of power generation capacity. Talen is
owned by Riverstone Holdings, LLC, a private equity firm. Talen's
power generation capacity is concentrated in the PJM region, which
accounts for approximately 75% of total MWs. Talen owns
approximately 6 GW of coal-fired generation but has committed to
cease all coal-fired operations by 2028.

ESG COMMENTARY

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.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch includes only recourse debt in its leverage calculation and
includes distribution from Lower Mt. Bethel - Martins Creek
non-recourse subsidiary in its adjusted EBITDA calculation.


TERVITA CORP: Moody's Withdraws B2 CFR Following Reorganization
---------------------------------------------------------------
Moody's Investors Service has withdrawn all of Tervita
Corporation's ratings, including its B2 corporate family rating,
B2-PD probability of default rating, its B3 senior secured
guaranteed second lien notes rating, its SGL-3 speculative grade
liquidity rating and its stable outlook.

Withdrawals:

Issuer: Tervita Corporation

Corporate Family Rating, Withdrawn , previously rated B2

Probability of Default Rating, Withdrawn , previously rated B2-PD

Speculative Grade Liquidity Rating, Withdrawn , previously rated
SGL-3

Gtd Senior Secured 2nd Lien Notes, Withdrawn , previously rated B3
(LGD3)

Outlook Actions:

Issuer: Tervita Corporation

Outlook, Changed To Rating Withdrawn From Stable

RATINGS RATIONALE

The withdrawal of Tervita's ratings follows the announcement on
July 2, 2021 that Tervita and Secure Energy Services Inc.
("Secure", unrated) have completed their planned merger that was
originally announced on March 9, 2021. Moody's has decided to
withdraw Tervita's ratings due to the corporate reorganization, as
Tervita has ceased to exist as an entity.

Tervita, based in Calgary, Alberta, was a public oilfield services
company that focused on waste management in the Canadian oil and
gas industry.


TEXAS TAXI: May Use Notre Capital's Cash Collateral Thru Sept. 20
-----------------------------------------------------------------
Texas Taxi, Inc.; Greater Austin Transportation Company; Greater
Houston Transportation Company; Greater San Antonio Transportation
Company; and Fiesta Cab Company have advised the Bankruptcy Court
that they have reached an agreement with Notre Capital Management,
Inc. and Steven Harter on the Debtors' use of the lender's cash
collateral.

The Lender holds perfected security interest and lien on
substantially all of the Debtors' assets securing at least
$5,944,604 in outstanding obligation to the Lender as of the
Petition Date.

Accordingly, Judge Christopher Lopez entered an agreed order,
pursuant to which the Debtors are authorized to use cash collateral
according to the budget, through the earlier of:

   a. midnight on September 20, 2021;

   b. the appointment of a Chapter 11 trustee;

   c. the conversion of any of the cases to a Chapter 7 case;

   d. lifting of the automatic stay to allow the Lender or any
other secured creditor to foreclose its liens on any of the
collateral; or

   e. the Debtors' failure to timely provide the Lender with any of
the reports or statements required pursuant to the agreed order.

The Lender is granted replacement liens and security interests on
all assets of the Debtors and their estates and the proceeds,
income and profits therefrom, to secure the Debtors' use of the
cash collateral as well as to secure any diminution of value in the
Collateral.  The replacement liens are subordinate to (i) the
validly perfected liens and interests in such assets, (ii) the
reasonable fees and expenses incurred by a trustee under Section
726(b) of the Bankruptcy Code up to $150,000, and (iii) fees owing
to the U.S. Trustee.

The Lender shall be entitled to the benefits of Section 507(b) of
the Bankruptcy Code in the event the value of the postpetition
replacement liens proves insufficient to enable the Lender to
collect the aggregate amount of cash collateral used by the
Debtors.

The Court directed the Debtors to timely pay all U.S. Trustee fees
and to maintain insurance on all of the Lender's collateral.

The Debtors shall have 60 days from entry of the current order to
file an adversary proceeding or contested matter challenging the
amount, validity, enforceability, priority or extent of the subject
debt or the liens on the collateral securing the debt.

A copy of the agreed order is available for free at
https://bit.ly/36V1ggU from PacerMonitor.com.

A final hearing on the use of cash collateral is scheduled for
August 5, 2021 at 3 p.m. by telephone and video conference.

Counsel for Notre Capital Management, Inc. and Steven Harter:

   Bruce J. Ruzinsky, Esq.
   Jackson Walker, L.L.P.
   1401 McKinney Street, Suite 1900
   Houston, TX 77010
   Telephone: (713) 752-4204
   Facsimile: (713) 308-4155
   Email: bruzinsky@jw.com

                     About Yellow Cab Houston

Texas Taxi, Inc., is a company based in Houston, Texas, with a
50-year history of providing transportation services to customers.
Texas Taxi was founded initially to provide transportation services
to the Greater Houston area and later expanded its services to
Austin, San Antonio and Pasadena.  Texas Taxi was formed in August
2003 to acquire the Greater Houston Transportation Company (GHTC),
Greater Austin Transportation Company and ultimately Greater San
Antonio Transportation Company.  Each operated as "Yellow Cab" in
their respective jurisdictions.  Texas Taxi also acquired Fiesta
Cab Company, which was focused on serving Spanish-speaking
passenger customers.

Texas Taxi, Inc., and its affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 21-60065) on July 19, 2021.  The
Hon. Christopher M. Lopez is the case judge.

Fuqua & Associates, PC, is the Debtors' counsel.

Jackson Walker, L.L.P. represents Notre Capital Management, Inc.,
secured creditor.



TIGER OAK: Trustee Seeks OK on Cash Deal with Choice Financial
--------------------------------------------------------------
Edwin H. Caldie, Chapter 11 Trustee for Tiger Oak Media,
Incorporated, filed a motion seeking approval of a sixth
stipulation entered into with Choice Financial Group, (and for a
limited purpose) the Official Committee of Unsecured Creditors, to
use cash collateral through and including September 30, 2021,
pursuant to the budget.

The budget provided for these monthly expenses:

                          Total            Total
      Month           Production Cost     Expenses
     -------          ----------------    --------
     July 2021           $292,022         $371,379
     August 2021         $258,369         $335,240
     September 2021      $355,448         $437,605
  
The parties further stipulate that (i) during the term of the sixth
stipulation, the Trustee will not make payments to Choice and
Choice shall not divert any funds from any accounts held by the
Debtor without further order of the Court; and (ii) the Challenge
Period (only as to the Trustee) and Guaranty Challenge Period (as
to the Trustee and the Committee) shall be extended through
September 30, 2021.

The sixth stipulation will expire on the earlier of September 30,
2021 or the occurrence of any of the following:

   a. dismissal of the Debtor's Chapter 11 case or conversion of
the case to a case under Chapter 7;

   b. withdrawal or disallowance of Choice's claim related to the
Guaranty;

   c. lifting of the automatic stay as to the Debtor's assets;

   d. confirmation of a Chapter 11 plan;

   e. any sale of any of the Debtor's property; or

   f. the occurrence of an event of default under the sixth
stipulation.

Pending approval of the sixth stipulation, Choice agreed to the
Trustee's continued use of the cash collateral for the period from
August 1, 2021 through the earlier of the date when the Court
enters an order on the sixth stipulation or August 10, 2021.

A copy of the motion is available for free at
https://bit.ly/36RPjZb from PacerMonitor.com.

The Court will consider the motion at a hearing on August 4, 2021
at 9:30 a.m., by telephone or other means.  Responses must be filed
no later than June 30.  

Counsel for the Official Committee of Unsecured Creditors:

   Jeffrey Klobucar, Esq.
   Bassford Remele, P.A.
   100 South Fifth Street, Ste. 1500
   Minneapolis, MN 55402-1254
   Telephone: 612.376.1639
   Facsimile: 612.746.1239
   Email: jklobucar@bassford.com

                       About Tiger Oak Media

Tiger Oak Media, Incorporated, is a regional and national publisher
of books, magazines, media and events that appeal to targeted
audiences.

Tiger Oak Media sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Minn. Case No. 19-43029) on Oct. 7,
2019.  In the petition signed by its CEO Craig Bednar, the Debtor
was estimated to have assets of less than $50,000 and liabilities
of less than $10 million.

The Hon. Michael E. Ridgway is the case judge.

The Debtor tapped Steven Nosek, Esq. and Yvonne Doose, Esq., as
bankruptcy attorneys; Lurie, LLP as accountant; and Integrated
Consulting Services, LLC as financial consultant.

Edwin H. Caldie is the Debtor's Chapter 11 Trustee.

The U.S. Trustee for Region 12 appointed creditors to serve on the
official committee of unsecured creditors on Oct. 22, 2019.  The
committee tapped Bassford Remele, P.A., as its legal counsel, and
Platinum Management, LLC as its financial advisor.

Choice Financial Group, as Lender, is represented by Manty &
Associates, PA.





TRANSDERMAL SPECIALITIES: U.S. Trustee Appoints Creditors Panel
---------------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 on July 21 appointed an
official committee to represent unsecured creditors in the Chapter
11 case of Transdermal Specialties Global, Inc.

The committee members are:

     1. Akonni Biosystems, Inc.
        400 Sagner Avenue, Suite 300
        Frederick, MD 21701
        Attention: Jon Davis, President
        Phone: (434) 962-6818
        Fax: (301) 205-5785
        E-mail: jdavis@akonni.com

     2. Patricia M. Van De Kamp
        Theodore J. Van De Kamp
        100 Seaview Avenue, Apartment 4-B
        Norwalk, CT 06855
        Phone: (203) 857-4887
        E-mail: tedvdk@optonline.net

     3. Yochi Shmuely
        218 Henley Road
        Wynnewood, PA 19096
        Phone: (610) 324-1025
        E-mail: Yochi@dulitzki.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

               About Transdermal Specialties Global

Transdermal Specialties Global, Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No.
21-11425) on May 19, 2021.  At the time of the filing, the Debtor
had $1 million to $10 million in both assets and liabilities.
Judge Magdeline D. Coleman oversees the case.  Ciardi Ciardi &
Astin serves as the Debtor's legal counsel.


TRIDENT TPI: Moody's Assigns B2 Rating on New First Lien Term Loan
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Trident TPI
Holdings, Inc proposed first lien term loan. The company's existing
ratings, including the B3 Corporate Family Rating, B3-PD
Probability of Default Rating, and Caa2 senior unsecured notes
remain unchanged. The outlook is stable.

The proposed $705 million, seven-year, first lien term loan will be
used in conjunction with $35 million of cash to finance the
purchase of Grupo Phoenix and a smaller bolt on acquisition. Grupo
will expand Trident's global footprint, and enhance the company's
R&D effort and manufacturing capabilities to support and compliment
its existing high value added product offering with additional
innovative and sustainable products. Pro forma for this
transaction, debt to LTM EBITDA (inclusive of Moody's adjustments)
at March 31, 2021 will increase to 7.5x from 7.0x. However, Moody's
expects Trident to grow EBITDA and reduce leverage with free cash
flow allocated toward debt reduction in its fiscal years ended June
2022 and 2023.

The B2 rating assigned to the proposed first lien term loan is one
notch above the CFR given the amount of unsecured debt in the
capital structure that provides loss absorption in a distressed
scenario.

The stable outlook assumes leverage will return to under 7.0x by
fiscal year end June 2023. Moody's also expect the company to take
the necessary steps to successfully refinance its revolver, which
matures in October 2022.

Assignments:

Issuer: Trident TPI Holdings, Inc.

Senior Secured Bank Credit Facility, Assigned B2 (LGD3)

RATINGS RATIONALE

Trident's B3 CFR reflects the company's high leverage, integration
risk associated with its growth through acquisition strategy, high
customer concentration, with about 25% of revenue generated from
its top ten customers, and modest free cash flow.

Trident benefits from a specialized product mix serving stable end
markets across its global footprint. The company's material science
capabilities support the ability to enhance existing product
offerings and introduce new innovative customer solutions that
provide added value for its customers. This will enable Trident to
further improve its strong EBITDA margin and generate cash that
will be allocated to debt reduction.

Moody's expects Trident's liquidity to be adequate over the next 12
to 18 months stemming from modest free cash flow and availability
under its $100 million asset-based revolving credit facility.
Moody's expects Trident to take necessary actions relatively soon
to refinance its ABL given it expires in October 2022.

The proposed $705 million, seven-year term loan will be subject to
the components of the October 2017 executed credit agreement. Some
of those components include the maximum incremental facility
allowing an amount up to the greater of $145 million and an amount
that does not exceed a lender calculated senior secured net
leverage ratio of 4.95x and a total net leverage ratio of 6.75x.
Application of asset sale or casualty event proceeds are not to be
excluded from debt reduction if pro forma the transaction, or
event, the first lien net leverage ratio is greater than 4.45x.
However, 50% only need to be applied if the first lien net leverage
ratio is less than or equal to 4.45x. A total net leverage ratio of
6.75x may not be exceeded pro forma certain restricted payments.

The marketing term sheet includes the following and may be subject
to change since this is a preliminary document. There is no
financial covenant. The seven year maturity of the proposed $705
million term loan will be accelerated to the maturity of the 2024
and 2025 unsecured notes if either of these unsecured tranches are
not extended, refinanced or replaced to have a maturity date at
least 91 days after the intended seven year maturity of the
proposed term loan. A prepayment premium of 1% will apply to the
proposed term loan if a repricing transaction is consummated prior
to six months after the issuance of the term loan. The term loan is
to amortize 1% annually, in equal quarterly installments. Term loan
proceeds are for the sole purpose of funding the acquisitions of
Grupo Phoenix and "Target A" and related fees. Any remaining
proceeds may be used for general corporate purposes.

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

While an upgrade is unlikely over the near term, given Trident's
increase in leverage from its proposed debt issuance, Moody's could
consider an upgrade if certain conditions are met:

Debt to EBITDA (including Moody's adjustments) is sustained below
5.5x

Good liquidity is maintained

Free cashflow to debt is sustained above 5%

The rating could be downgraded if:

Debt to EBITDA (inclusive of Moody's adjustments) is sustained
above 7.0x

Liquidity deteriorates

Free cash flow to debt is sustained below 2%

Headquartered in Wayne, Pennsylvania, Tekni Plex Inc is a
manufacturer of plastic packaging and materials for the food,
healthcare, and consume goods markets. The food packaging segment
produces polystyrene thermoformed foam and PET packaging, such as
egg cartons and food trays. The healthcare business segment
manufactures medical compound, films, and medical tubing. The
specialty packaging segment (consumer goods) manufactures aerosol
gasket, pump components, closure liners, medical pouches, and
industrial specialty films. Tekni Plex is a global company with
approximately 70% of sales in the US, 24% in EMEA, and 6% in APAC
and LatAm combined. For the last twelve months ended March 31,
sales and adjusted EBITDA were $1.1 billion and $222 million,
respectively. Trident is a portfolio company of Genstar Capital and
does not publicly disclose financial information.


TRIDENT TPI: S&P Alters Outlook to Stable, Affirms 'B-' ICR
-----------------------------------------------------------
S&P Global Ratings revised its outlook on Trident TPI Holdings Inc.
(doing business as Tekni-Plex) to stable from negative and affirmed
its 'B-' issuer credit rating.

At the same time, S&P assigned its 'B-' issue-level rating and '3'
recovery rating (rounded estimate: 65%) to the company's proposed
$705 million first-lien term loan.

The stable outlook on Tekni-Plex reflects S&P's expectation that
the steady demand trends for rigid packing solutions in its key end
markets will continue to support its free cash flow generation and
leverage in the low-8x range over the next 12 months despite the
incremental debt it is taking on to fund the acquisition.

Tekni-Plex demonstrated resiliency over the course of the
pandemic-related global recession and is well positioned to
capitalize on favorable business trends over the next 12 months.
Through March 2021 the company increased its revenue by close to 7%
(primarily due to improvements in its specialty and food packaging
businesses) and expanded its S&P Global Ratings-adjusted margins by
over 200 basis points (bps) relative to its pre-pandemic levels.
S&P said, "While Tekni-Plex suffered from operational challenges in
2020, we believe these issues are mostly behind the company and
anticipate it will maintain a relatively consistent margin profile.
Tekni-Plex's health care segment faced a modest decline in its
volumes because of the reduced demand for medical components used
in elective surgeries amid the pandemic, though we expect this
segment to fare much better in fiscal year 2022 given the global
economic reopening. That said, we believe the company could face
pressures stemming from raw material price increases and supply
chain disruptions. Although we expect Tekni-Plex would be able to
pass on increases in its costs to its customers through contractual
pass throughs, the lag between the rise in its costs and the
adjustment of its prices could lead to some volatility in its
earnings in the short term."

The proposed acquisition of Grupo Phoenix should enhance
Tekni-Plex's scale and market presence. Grupo Phoenix is a
manufacturer of packaging materials, primarily for consumer and
foodservice products, that has a strong presence in South America.
The company also provides a significant share of Keurig's
disposable K-cups, which S&P expects will complement Tekni-Plex's
other foodservice products. However, the transaction will lead to a
slight increase in the company's customer concentration given Grupo
Phoenix's exposure to Keurig.

S&P said, "While we expect the acquisition to increase Tekni-Plex's
profitability and provide a modest degree of synergies, the
increase in its debt burden will cause its leverage to remain
elevated. We anticipate the company's S&P Global Ratings-adjusted
debt to EBITDA will be in the low 8x range for fiscal years 2021
and 2022 given the incremental debt and related transaction costs.
In our view, Tekni-Plex has historically operated with elevated
leverage because of its acquisitive growth strategy. However, we
believe the company can manage slightly higher debt levels due to
its high exposure to medical and consumer goods. We expect
Tekni-Plex to demonstrate modest growth and margin improvement that
will improve its leverage to the 7x-8x range beyond fiscal year
2022. We also expect the company to continue to pursue modest
bolt-on acquisitions, though we have not incorporated any
transformative deals in our forecast.

"Tekni-Plex will likely generate solid free operating cash flow
(FOCF) and maintain adequate liquidity over the next 12-18 months.
Following the transaction, we expect the company to benefit from
its higher income from operations, which will be partially offset
by modest working capital outflows and slightly higher capital
expenditure as it ramps up its new business initiatives. With full
availability under its current $100 million asset-based lending
(ABL) facility, a moderate cash position, and no near-term
maturities, we anticipate Tekni-Plex will likely have adequate
liquidity sources to cover its required amortization, capital
expenditure, and working capital needs.

"The stable outlook reflects our view that Tekni-Plex will be able
to maintain leverage in the low 8x area over the next 12 months
given our forecast for modest margin improvement. We also expect
the company to generate adequate FOCF to service its debt and meet
its other liquidity needs."

S&P could lower its rating on Tekni-Plex if:

-- The demand for its products declines and causes its operating
performance to weaken, limiting its free cash generation and
constraining its liquidity while its leverage remains elevated; or

-- Macroeconomic factors or company-specific operational issues
lead to significantly lower earnings, causing its debt levels to
rise to an unsustainable level.

Although unlikely over the next year, S&P could raise its rating on
Tekni-Plex if:

-- The company reduces its S&P Global Ratings-adjusted debt to
EBITDA below 7x and S&P believes its sponsor is committed to
maintaining its leverage at this level regardless of potential
future acquisitions and shareholder returns; and

-- The company generates moderately positive FOCF.



UNIVERSAL ACADEMY: S&P Raises 2014 Revenue Bond Rating to 'BB-'
---------------------------------------------------------------
S&P Global Ratings raised its rating to 'BB-' from 'B+' on
Arlington Higher Education Financial Corp., Texas' series 2014
tax-exempt fixed-rate education revenue bonds, issued for LTTS
Charter School Inc., doing business as Universal Academy (UA). The
outlook is stable.

"The raised rating reflects our view of UA's notable growth in
reserves and materially improved liquidity position that is more
comparable with its higher-rated peers," said S&P Global Ratings
credit analyst James Gallardo. "In addition, despite its history of
uneven operating trends and a large deficit in fiscal 2020, the
higher rating reflects our view of management's expectations for
positive operations in fiscals 2021 and 2022 and healthy enrollment
growth paired with stable state funding," Mr. Gallardo added.

UA operates two schools under one charter. One campus is in
Coppell, Texas, and the other is located approximately 12 miles
north in Irving. Total enrollment in fall 2020 was 2,397.
Management notes that the two schools are very different: The
Coppell campus serves K-12 and is located in an upper-middle-income
area and the Irving campus, serves pre K-12 with over 98% of the
students qualifying for free and reduced-price lunch.





URGENT CARE: Taps Steinhilber Swanson as Bankruptcy Counsel
-----------------------------------------------------------
Urgent Care Physicians, Ltd. seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Wisconsin to hire
Steinhilber Swanson LLP to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) preparing bankruptcy schedules and statements;

     (b) assisting in preparing the subchapter V plan of
reorganization and attendant negotiations and hearings;

     (c) preparing and reviewing pleadings, motions and
correspondence;

     (d) appearing at and being involved in various proceedings
before the court;

     (e) handling case administration tasks and dealing with
procedural issues;

     (f) assisting with the commencement of the
debtor-in-possession operations; and

     (g) analyzing claims and prosecuting claim objections.

The firm's attorneys and paraprofessionals will be paid at hourly
rates ranging from $140 to $575, subject to periodic increase.

The Debtor paid $19,685 to the law firm for the work performed up
to the filing of the petition and thereafter.

John Menn, Esq., a member of Steinhilber Swanson, disclosed in a
court filing that he is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     John W. Menn, Esq.
     Steinhilber Swanson LLP
     107 Church Avenue
     Oshkosh, WI 54901
     Tel.: (920) 235-6690
     Fax: 920-426-5530
     
                    About Urgent Care Physicians

Appleton, Wis.-based Urgent Care Physicians, Ltd. filed a Chapter
11 petition (Bankr. E.D. Wis. Case No. 21-24000) on July 15, 2021.
At the time of the filing, the Debtor had $268,370 in total assets
and $1,341,830 in total liabilities. Bobby B. Yun, president,
signed the petition.  Judge Beth E. Hanan oversees the case.
Steinhilber Swanson LLP serves as the Debtor's bankruptcy counsel.


VAL'S FOOD: Court Confirms Amended Plan, Aug. 2 Auction Set
-----------------------------------------------------------
Judge Stacey G. Jernigan confirmed the Second Amended Plan combined
with Disclosure Statement of Val's Food with a Twist, LLC on July
16, 2021.  

The auction of 100% of the newly issued membership interest in the
Debtor will take place on August 2, 2021 beginning at 10 a.m. at
the offices of counsel for the Debtor, Quilling, Selander, Lownds,
Winslett & Moser, P.C. in Dallas, Texas.  Any party wishing to bid
may participate in the live auction by contacting counsel for the
Debtor prior to August 2 to be able to participate remotely, as no
parties will be allowed to attend the auction in person.

A copy of the order is available for free at https://bit.ly/2Tm1dr8
from PacerMonitor.com.

Counsel for the Debtor:

  John Paul Stanford, Esq.
  Quilling, Selander, Lownds, Winslett & Moser, P.C
  2001 Bryan Street, Suite 1800
  Dallas, TX 75201
  Telephone: (214) 880-1851
  Facsimile: (214) 871-2111
  E-mail: jstanford@qslwm.com

                   About Val's Food with a Twist   
                    d/b/a dba Val's Cheesecake                

Val's Food with a Twist, LLC, sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 20-31965) on
July 20, 2020.  The case is assigned to Judge Stacey G. Jernigan.
John Paul Stanford, Esq., at Quilling, Selander, Lownds, Winslett &
Moser, P.C., is the Debtor's counsel.   



VILLAS OF WINDMILL: Confirmation Hearing Set for September 8
------------------------------------------------------------
Judge Mindy A. Mora entered an amended order approving the
Disclosure Statement of Villas of Windmill Point II Property Owners
Association, Inc.  Judge Mora also set for September 8, 2021 at
9:30 a.m. the hearing, in person, to consider confirmation of the
Plan.  Parties in interest may also attend the hearing, via Zoom or
by telephone.  The hearing will take place at the U.S. Bankruptcy
Court located at 1515 N. Flagler Drive, Courtroom A, Room 801, West
Palm Beach, Florida.   

In addition, Judge Mora fixed the following dates:

   * August 25, 2021, as the deadline for filing objections to Plan
confirmation;

   * August 25, 2021, as the deadline for filing ballots accepting
or rejecting the Plan;

   * September 3, 2021, as the deadline to file the Proponent's
Report and Confirmation Affidavit.

A copy of the amended order is available for free at
https://bit.ly/3kAQjZV from PacerMonitor.com.

The order was amended to continue the hearing on confirmation of
Plan, as well as on fee applications.

            About Villas of Windmill Point II Property  

Based in Port Saint Lucie, Fla., Villas of Windmill Point II
Property Owners Association, Inc., is a non-profit corporation with
volunteers that self manages 89 separately deeded, single-family
residential villa units that are attached in four and five-unit
clusters within a Planned Unit Development (PUD).

Villas of Windmill filed a Chapter 11 petition (Bankr. S.D. Fla.
19-20400) on Aug. 2, 2019.  At the time of filing, the Debtor was
estimated to have $1 million to $10 million in assets and $1
million to $10 million in liabilities.

Judge Mindy A. Mora oversees the case.

The Debtor is represented by Brian K. McMahon, Esq., in West Palm
Beach, Florida.

Leslie S. Osborne was appointed as the Debtor's Chapter 11 Trustee.
The Trustee is represented by Rappaport Osborne Rappaport.


VINE ENERGY: Moody's Rates $150MM Second Lien Term Loan 'Ba2'
-------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Vine Energy
Holdings LLC's (VEH) existing $150 million second lien term loan
due December 2025. Concurrently, Moody's affirmed VEH's B2
Corporate Family Rating, B2-PD Probability of Default Rating, and
its B3 senior unsecured notes rating. The Speculative Grade
Liquidity rating of SGL-2 is unchanged. The outlook is stable.

Assignments:

Issuer: Vine Energy Holdings LLC

Senior Secured Second Lien Term Loan, Assigned Ba2 (LGD2)

Affimations:

Issuer: Vine Energy Holdings LLC

Corporate Familiy Rating, Affirmed B2

Probability of Default, Affirmed B2-PD

Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD4)

Outlook Actions:

Issuer: Vine Energy Holdings LLC

Outlook, Remains Stable

RATINGS RATIONALE

VEH's second lien term loan rating is rated Ba2, three notches
above its CFR, which reflects its priority lien on the collateral
over the substantial amount of senior unsecured notes outstanding.
The term loan's claim is subordinated to the $350 million senior
secured first lien RBL facility, which is unrated. If there is a
significant increase in the company's utilization of the RBL or the
size of the RBL itself, the Ba2 rating on the second lien term loan
could be downgraded. VEH's senior unsecured notes are rated B3, one
notch below the B2 CFR, reflecting the notes' subordination to the
RBL and second lien term loan.

VEH's B2 CFR reflects its high debt leverage and the company's
single basin concentration, offset by its strong free cash flow
generation, as well as good liquidity position. Moody's expects
VEH's cash flow metrics to improve over the next twelve months,
supported by its strong hedge book that provides substantial
certainty of cash flow through 2021 and beyond, positioning the
company for further debt reduction. The make whole provision on the
company's second lien term loan expires in June 2022. VEH's
combined production and size of proved developed (PD) reserves are
relatively modest compared to its similarly rated peers, with
additional risks associated with single basin concentration. VEH is
a subsidiary of Vine Energy Inc. (VEI), whose public offering in
March 2021 significantly improved VEH's growth prospects, as the
company can avail itself to public equity as a source of funding to
pursue growth without increasing its debt. VEH also benefits from
its productive acreage in the Haynesville/Mid-Bossier formations,
efficient operations and its low finding and development costs
contributing to solid capital efficiency.

The stable outlook reflects Moody's expectation that the company
will reduce debt through free cash flow generation, while
maintaining size and scale, and improving cash margins through cost
structure optimization.

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

VEH's ratings could be upgraded if the company generates consistent
positive free cash flow while reducing debt and growing reserves to
improve debt to proved developed reserves significantly, and
maintaining a leveraged full cycle ratio above 1.5x. The company
must also maintain good liquidity.

Factors that could lead to a downgrade include deterioration of
liquidity or higher leverage, with retained cash flow to debt below
20%, as a result of negative free cash flow generation or
debt-funded acquisitions.

Headquartered in Plano, Texas, Vine Energy Holdings LLC is a
natural gas-focused private independent exploration and production
company majority owned by Vine Energy Inc. (VEI). VEI is a publicly
listed company formed in 2021 and majority owned by its private
equity sponsor, The Blackstone Group L.P.

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


VT TOPCO: Moody's Affirms 'B3' CFR & Rates First Lien Loans 'B2'
----------------------------------------------------------------
Moody's Investors Service affirmed ratings for VT Topco , Inc.
("Veritext"), including the B3 corporate family rating, B3-PD
probability of default rating, the B2 rating on the existing first
lien senior secured credit facility, and the Caa2 rating on the
existing second lien senior secured term loan. Concurrently,
Moody's assigned B2 ratings to the company's proposed $400 million
incremental first lien senior secured term loan, the company's
proposed $70 million first lien senior secured delayed draw term
loan, the company's $55 million senior secured first lien revolver
which is being extended to 2025, and a Caa2 rating to the company's
proposed $200 million incremental senior secured second lien term
loan. The outlook is stable.

Proceeds from the proposed incremental first and second lien term
loans and cash will be used to fund a $555 million dividend payment
to the existing sponsors, pay down the outstanding revolver
balance, and pay transaction fees and expenses. The delayed draw
term loan availability expires in 24 months. Proceeds from the
delayed draw term loan can be used to finance one or more permitted
investments, to finance earn-outs related to permitted investments,
and to repay revolving loans that were used to fund permitted
acquisitions or earn-outs. Concurrent with the transaction, the
company is extending the maturity of its revolver to 2025.

Veritext is subject to governance risk as the business is owned by
private equity investors, Leonard Green & Company, and is expected
to maintain an aggressive financial strategy prioritizing
shareholders as evidenced by the dividend recap, which is an amount
greater than the sponsor's initial equity investment, and the high
leverage levels associated with the proposed transaction.

Affirmations:

Issuer: VT Topco, Inc.

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured First Lien Term Loan, Affirmed B2 (LGD3)

Senior Secured Second Lien Bank Credit Facility, Affirmed Caa2
(LGD5)

Assignments:

Issuer: VT Topco, Inc.

Senior Secured First Lien Term Loan, Assigned B2 (LGD3)

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

Senior Secured First Lien Delayed Draw Term Loan, Assigned B2
(LGD3)

Senior Secured Second Lien Term Loan, Assigned Caa2 (LGD5)

Outlook Actions:

Issuer: VT Topco, Inc.

Outlook, Remains Stable

The assigned ratings are subject to review of final documentation
and no material change to the size, terms and conditions of the
transaction as advised to Moody's.

RATINGS RATIONALE

Veritext's B3 CFR is constrained by high pro forma debt-to-EBITDA
leverage, currently estimated at 6.4x (Moody's adjusted, including
pro forma pre-acquisition EBITDA and excluding one-time COVID
savings and capitalized software development costs) for the twelve
months ended June 30, 2021. The rating also reflects the company's
leading market size and scale and a highly acquisitive growth
strategy. Positively, operations should be more resilient to future
health emergencies as the company has demonstrated the ability to
transition operations to a remote model which support Moody's
expectation for organic growth in 2021 and 2022. Additionally,
Moody's expects that actioned cost savings combined with a shift
towards greater adoption of Veritext's virtual deposition services
will lead to sustained margin improvement. The company also has a
leading competitive position in a fragmented industry with a
diverse base of major law firm clients and a high customer
retention rate. Liquidity is supported by Moody's expectation for
positive free cash flow (excluding the shareholder distribution) of
at least $60 million during the next 12 months, a pro-forma cash
balance of approximately $18 million as of June 30, 2021, and,
after the financing transaction, access to an undrawn $55 million
revolving credit facility expiring in 2025.

The B2 ratings on the $55 million first-lien senior secured
revolving credit facility due 2025, the first-lien senior secured
term loans due 2025, and the first-lien senior secured delayed draw
term loan due 2025 are one notch higher than the B3 CFR. This
reflects the facilities' first priority lien on substantially all
assets. The Caa2 ratings on the second-lien term loans due 2026 are
two notches below the CFR. This reflects the effective
subordination of this second-lien term debt to the aforementioned
senior secured first-lien credit facilities. All senior secured
facilities are guaranteed by all existing and future domestic
subsidiaries of the borrower.

The stable outlook reflects Moody's expectation that the company
will be able to sustain sequential revenue and earnings growth over
the next 12-18 months and that adjusted debt leverage will improve
towards 6x while maintaining good liquidity including
acquisitions.

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

The ratings could be downgraded if operational performance
deteriorates, liquidity weakens or Veritext's acquisition strategy
results in operational disruptions. Moody's adjusted debt-to-EBITDA
sustained above 7.5x or EBITA-to-interest approaching 1.0x could
also result in a downgrade.

The ratings could be upgraded if the company continues to deliver
sustained revenue and earnings growth while continuing to deliver
on its historically successful track record of integrating
acquisitions. Adopting and adhering to a more conservative
financial policy which prioritizes debt reduction, Moody's adjusted
debt-to-EBITDA sustained below 6.0x and free cash flow as a
percentage of debt maintained above 5% could also support a
prospective upgrade.

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

Veritext, headquartered in Livingston, NJ, is the largest
deposition and litigation support solutions provider to the legal
industry. Since the August 2018 leveraged buyout transaction, the
company has been owned by Leonard Green & Company.


VT TOPCO: S&P Affirms B ICR on Debt-Funded Shareholder Distribution
-------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating (rounded estimate: 65%) to Livingston, N.J.-based
litigation support solutions provider VT TopCo Inc.'s (doing
business as Veritext) incremental first-lien credit facility and
its 'CCC+' issue-level rating and '6' recovery rating (rounded
estimate: 0%) to its incremental second-lien facility.

S&P said, "The stable outlook on Veritext reflects our expectation
that its S&P Global Ratings-adjusted leverage will be in the
6.0x-7.0x range over the next year, on organic growth and the
successful integration of its recent acquisitions, while its
maintains EBITDA margins of 25%-30%

"We expect Veritext's S&P Global Ratings-adjusted leverage to
remain in its historical range of 6x–7x because it will offset
the more than $600 million of incremental debt by sharply
increasing its EBITDA. We expect the company to nearly double its
EBITDA in 2021 relative to last year. Given our expectation for a
greater than 50% rise in its revenue with about a quarter of the
growth driven by acquisitions, and the remaining projected from
current run-rates of deposition volumes. Over the past few
quarters, Veritext has benefitted from the increased adoption of
its online offering (Veritext Virtual), which allows for remote
depositions with all the services of a traditional deposition. In
addition, we expect over 500 basis point (bps) expansion in its
margin driven by a higher price point for its virtual solution and
a reduction in operating expenses as part of a restructuring in
2020. The COVID-19 pandemic accelerated the ongoing shifts in the
use of technology in many industries and we believe the litigation
industry was especially ripe for digitization. We anticipate this
shift will likely lead to permanent changes in the industry even
after the limitations related to the pandemic are lifted.

"Accordingly, the company's recent robust results have prompted us
to revise of our base-case forecast, under which we now assume a
5-7% increase in organic revenue, augmented by contributions from
acquisitions, and EBITDA margins in the 25%-30% area over the next
12-18 months. Our assumptions also include an ongoing expansion in
Veritext's deposition volumes coupled with elevated contribution
margins from both its in-person and virtual/hybrid solutions.

"The company's financial-sponsor ownership may preclude significant
deleveraging despite our strong cash-flow generation expectations.
As a sponsor-owned company, we expect Veritext to employ an
aggressive financial policy. Given the business' strong
profitability and free cash flow generation characteristics, we
believe its sponsor--Leonard Green & Partners--will continue to
prioritize distributions and acquisitions to maximize their
returns. We also expect Veritext to continue to consolidate the
fragmented $3.6 billion legal outsourcing market via small,
debt-supported tuck-in acquisitions. Nevertheless, we have not
incorporated any such activity into our base-case scenario given
the uncertainty around their size and timing.

"The stable outlook on Veritext reflects our expectation for S&P
Global Ratings-adjusted leverage in the 6.0x-7.0x range over the
next, supported by organic growth and the successful integration of
its recent acquisitions, while it maintains EBITDA margins of
25%-30%.

"We could lower our rating on Veritext over the next 12 months if
operational difficulties lead to a decline in its service quality
that affects the brand, the company is unable to retain court
reporters, or a technological advancement among its competitors
leads to customer attrition. We could also lower our rating if
Veritext pursues a more aggressive debt-financed acquisition growth
strategy or debt-financed dividends." Specifically, S&P could
downgrade Veritext if:

-- Its credit measures weaken such that S&P expects its pro forma
leverage to remain above 7x;

-- S&P expects its free operating cash flow (FOCF) to debt to be
in the low-single digit percent area; or

-- Its margins narrow by 200 bps-300 bps and revert to 2020
levels, possibly due to a change in the mix of in-person versus
virtual depositions.

S&P could consider raising its rating on Veritext if it delivers a
solid operating performance and expands and diversifies its revenue
mix while maintaining its current margin profile. An upgrade would
be consistent with the following:

-- Sustained S&P Global Ratings-adjusted leverage of below 5x;

-- A commitment from its financial sponsor that it would maintain
its leverage below that threshold; and

-- FOCF to debt exceeding the high-single-digit percent range.



WATER MARBLE: Gets OK to Hire Moody Williams as Appraiser
---------------------------------------------------------
Water Marble Holding, LLC received approval from the U.S.
Bankruptcy Court for the Middle District of Florida to employ Moody
Williams Appraisal Group, LLC to conduct an appraisal of its real
property.

The firm charges a flat fee of $7,500 for commercial appraisals.

Ron Moody, an appraiser at Moody Williams, disclosed in a court
filing that he does not represent any interest adverse to the
Debtor.

Moody Williams can be reached at:

     Ron Moody, MAI, SRA
     Moody Williams Appraisal Group, LLC
     1300 Riverplace Blvd #640
     Jacksonville, FL 32207
     Phone: +1 904-516-8900

                    About Water Marble Holding

Water Marble Holding, LLC filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Fla. Case No. 21-01034) on April 28, 2021, disclosing
$1 million to $10 million in both assets and liabilities. Judge
Jerry A. Funk oversees the case.  The Debtor is represented by The
Law Offices of Jason A. Burgess, LLC.


WEINSTEIN CO: Harvey Extradited to California Prior to LA Trial
---------------------------------------------------------------
Law360 reports that New York officials handed disgraced Hollywood
movie mogul Harvey Weinstein over to California authorities on
Tuesday, July 20, 2021,  ahead of his upcoming trial on rape
charges following his conviction and imprisonment in the Empire
State for sexually assaulting two women.

Weinstein unsuccessfully challenged his extradition to the Golden
State on medical grounds. "This morning at approximately 9:25,
custody of Mr. Harvey Weinstein was handed over to the appropriate
officials for transport to the state of California per a court
order," said a spokesman for the New York State Department of
Corrections and Community Supervision.

                    About The Weinstein Company

The Weinstein Company (TWC) -- http://www.WeinsteinCo.com/-- is a
multimedia production and distribution company launched in 2005 in
New York by Bob and Harvey Weinstein, the brothers who founded
Miramax Films in 1979. TWC also encompasses Dimension Films, the
genre label founded in 1993 by Bob Weinstein. During Harvey and
Bob's tenure at Miramax and TWC, they have received 341 Oscar
nominations and won 81 Academy Awards.

TWC dismissed Harvey Weinstein in October 2017, after dozens of
women came forward to accuse him of sexual harassment, assault or
rape.

The Weinstein Company Holdings LLC and 54 affiliates sought Chapter
11 protection (Bankr. D. Del. Lead Case No. 18-10601) on March 19,
2018, after reaching a deal to sell all assets to Lantern Asset
Management for $310 million.

The Weinstein Company Holdings estimated $500 million to $1 billion
in assets and $500 million to $1 billion in liabilities.

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

Cravath, Swaine & Moore LLP is the Debtors' bankruptcy counsel,
with the engagement led by Paul H. Zumbro, George E. Zobitz, and
Karin A. DeMasi, in New York.

Richards, Layton & Finger, P.A., is the local counsel, with the
engagement headed by Mark D. Collins, Paul N. Heath, Zachary I.
Shapiro, Brett M. Haywood, and David T. Queroli, in Wilmington,
Delaware.

The Debtors also tapped FTI Consulting, Inc., as restructuring
advisor; Moelis & Company LLC as investment banker; and Epiq
Bankruptcy Solutions, LLC as claims and noticing agent.

The official committee of unsecured creditors retained Pachulski
Stang Ziehl & Jones, LLP as its legal counsel, and Berkeley
Research Group, LLC, as its financial advisor.


WEINSTEIN CO: Owner Pleads Not Guilty to California Rape Charges
----------------------------------------------------------------
Law360 reports that disgraced Hollywood movie mogul Harvey
Weinstein on Wednesday, July 21, 2021, entered a plea of not guilty
to multiple rape and sexual assault charges in a Los Angeles
courtroom as he made his first appearance in the California
criminal case against him.

According to published reports, the 69-year-old Weinstein entered
the courtroom in a wheelchair and spoke only to say "thank you" in
response to Superior Court Judge Sergio Tapia wishing him luck as
the brief hearing ended. The former film producer is facing four
counts of forcible rape, four counts of forcible oral copulation,
two counts of sexual battery by restraint.

                      About The Weinstein Company

The Weinstein Company (TWC) -- http://www.WeinsteinCo.com/-- is a
multimedia production and distribution company launched in 2005 in
New York by Bob and Harvey Weinstein, the brothers who founded
Miramax Films in 1979. TWC also encompasses Dimension Films, the
genre label founded in 1993 by Bob Weinstein. During Harvey and
Bob's tenure at Miramax and TWC, they have received 341 Oscar
nominations and won 81 Academy Awards.

TWC dismissed Harvey Weinstein in October 2017, after dozens of
women came forward to accuse him of sexual harassment, assault or
rape.

The Weinstein Company Holdings LLC and 54 affiliates sought Chapter
11 protection (Bankr. D. Del. Lead Case No. 18-10601) on March 19,
2018, after reaching a deal to sell all assets to Lantern Asset
Management for $310 million.

The Weinstein Company Holdings estimated $500 million to $1 billion
in assets and $500 million to $1 billion in liabilities.

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

Cravath, Swaine & Moore LLP is the Debtors' bankruptcy counsel,
with the engagement led by Paul H. Zumbro, George E. Zobitz, and
Karin A. DeMasi, in New York.

Richards, Layton & Finger, P.A., is the local counsel, with the
engagement headed by Mark D. Collins, Paul N. Heath, Zachary I.
Shapiro, Brett M. Haywood, and David T. Queroli, in Wilmington,
Delaware.

The Debtors also tapped FTI Consulting, Inc., as restructuring
advisor; Moelis & Company LLC as investment banker; and Epiq
Bankruptcy Solutions, LLC as claims and noticing agent.

The official committee of unsecured creditors retained Pachulski
Stang Ziehl & Jones, LLP as its legal counsel, and Berkeley
Research Group, LLC, as its financial advisor.





WHITE RIVER: Disclosure Statement Hearing Reset to Sept. 9
----------------------------------------------------------
Judge Benjamin P. Hursh has permitted White River Contracting LLC
to file an amended Disclosure Statement and Plan by July 21, 2021.


Accordingly, the hearing on approval of the Debtor's Disclosure
Statement, as amended, is set for September 9, 2021, at 9 a.m.
Objections to the Amended Disclosure Statement must be filed by
August 12.  Judge Hursh further extended the 180-day period set
forth in Section 1121(c)(3) of the Bankruptcy Code until September
10, 2021.  The Debtor has filed a motion seeking to extend the
filing of an amended Disclosure Statement and Plan in order to
finalize the terms of the sale of assets, as proposed in the Plan.


A copy of the order is available for free at https://bit.ly/2Uw3Gjm
from PacerMonitor.com.

                   About White River Contracting

White River Contracting LLC is a privately held company in the
residential building construction industry that specializes in
custom-tailored homes.

White River Contracting, based in Hamilton, MT, filed a Chapter 11
petition (Bankr. D. Mont. Case No. 20-90251) on Nov. 3, 2020.  In
the petition signed by Craig Rostad, managing member, the Debtor
was estimated to have $1 million to $10 million in assets and $10
million to $50 million in liabilities.  The Hon. Benjamin P. Hursh
presides over the case.  Shimanek Law PLLC serves as bankruptcy
counsel to the Debtor.


WILDWOOD VILLAGES: Hearing Today on Cash Collateral Access
----------------------------------------------------------
Judge Roberta A. Colton conditionally authorized Wildwood Villages,
LLC to use the cash collateral on an interim basis, pursuant to the
budget, from June 30, 2021 at 2 p.m. through July 23, 2021 at 9:30
p.m.

A continued hearing on the motion is scheduled on July 23 at 9:30
a.m. (prevailing Eastern Time), via Zoom conference.

To adequately protect Level Four, Citizens First Bank and any other
potentially secured creditors in connection with the use by Debtor
of any Cash Collateral, the Court confirms the grant, assignment
and pledge by Debtor to the secured creditors of a post-petition
security interest and replacement lien in the secured creditor's
Pre-Petition Collateral in which the secured creditors may have
held a lien or security interest prior to the Petition Date, as
well as the proceeds from the disposition of any of such
Prepetition Collateral.  

The replacement lien shall also apply to any funds recovered by the
bankruptcy estate pursuant to avoidance actions to the extent such
secured creditor had a lien on such fund(s) prior to the Petition
Date.

As further adequate protection:

(a) the Debtor shall pay all amounts due to each of Citizens First
Bank and Level Four, pursuant to the applicable operative loan
documents; and

(b) the Debtor shall maintain and provide proof of insurance to
Citizens First Bank and Level Four, upon request.

Further adequate protection payments shall be determined at the
final hearing scheduled by the Court.

A copy of the order, along with the budget, is available for free
at https://bit.ly/3iB1A9S from PacerMonitor.com.

                      About Wildwood Villages

Wildwood Villages, LLC is a Wildwood, Fla.-based company engaged in
activities related to real estate.

Wildwood Villages filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
20-02569) on Aug. 28, 2020.  Jonathan Woods, manager, signed the
petition.  The Debtor disclosed $3,150,861 in assets and $3,428,386
in liabilities.  Matthew S. Kish, Esq., at Shapiro Blasi Wasserman
& Hermann, PA, represents the Debtor as legal counsel.


WOODBRIDGE HOSPITALITY: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------------
The U.S. Trustee for Region 14 on July 20 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Woodbridge Hospitality, LLC.
  
                   About Woodbridge Hospitality

Scottsdale, Ariz.-based Woodbridge Hospitality, L.L.C. is a company
that operates in the hotel and motel industry.  It conducts
business under the name Suites on Scottsdale.

Woodbridge Hospitality filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No.
21-04096) on May 26, 2021.  Sukhbinder Khangura, the Debtor's
manager, signed the petition.  At the time of filing, the Debtor
had between $10 million and $50 million in both assets and
liabilities.  Judge Paul Sala presides over the case.  Sacks
Tierney P.A., represents the Debtor as legal counsel.

Canyon Community Bank, as lender, is represented by Michael
McGrath, Esq. at Mesch Clark Rothschild.


ZAYAT STABLES: Court Orders Zayat Family to Divulge Finances
------------------------------------------------------------
Leslie A. Pappas of Bloomberg Law reports that the family of Triple
Crown winner American Pharoah's owner must turn over their
financial records to his bankruptcy trustee, after a judge ruled
that delays would further complicate the case.

The ruling further ensnares Ahmed Zayat's family in a
court-appointed trustee's efforts to probe his financial state in
order to boost his creditors’ recoveries.

The trustee overseeing Zayat's Chapter 7 pressed for the records,
arguing that Zayat, his family members, creditors, and Zayat
Stables had a "pattern of intermingling" their assets.

The "constant objections to discovery" in Zayat's case are
"troubling," Judge Vincent F. Papalia said Tuesday, July 20, 2021.

                        About Zayat Stables

Headquartered in Hackensack, New Jersey, Zayat Stables owned 203
thoroughbred horses. The horses, which are collateral for the bank
loan, are worth $37 million, according to an appraisal mentioned in
a court paper.  Ahmed Zayat said in a court filing that he
personally invested $40 million in the business.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
D.N.J. Case No. 10-13130) on Feb. 3, 2010. The Company estimated
$10 million to $50 million in assets and the same range of
liabilities as of the bankruptcy filing.  The Debtor tapped Cole,
Schotz, Meisel, Forman & Leonard, P.A., as bankruptcy counsel.


[*] 2020 Cares Act Bankruptcy Provisions Extended
-------------------------------------------------
Mary M. Caskey of Haynsworth Sinkler Boyd wrote an article titled
"United States: COVID-19 Bankruptcy Relief Extension Act:
Bankruptcy Provisions Of The 2020 Cares Act Extended."

On March 27, 2020, the federal government passed the Coronavirus
Aid, Relief, and Economic Security (CARES) Act, providing relief to
a wide array of individuals and industries. Included in the CARES
Act were certain provisions related to the Bankruptcy Code. Of
note, the CARES Act:

Amends Section 1182(a)(A) to increase the aggregate debt limit for
small businesses filing for relief under Subchapter V of Chapter 11
to $7,500,000 from $2,725,625.

Amends the definition of " income" in Chapters 7 and 13 of the
Bankruptcy Code to exclude from monthly income payments made under
Federal law relating to COVID-19 and clarifying that disposable
income for Chapter 13 plans does not include those payments.

Allows for the modification of a Chapter 13 confirmed plan upon the
request of the debtor if the debtor is experiencing or has
experienced a material financial hardship due to COVID-19.

Upon the scheduled expiration of these CARES provisions, on March
27, 2021, Congress unanimously passed the COVID-19 Bankruptcy
Relief Extension Act of 2021. This has extended these provisions an
additional year through March 27, 2022.

This extension will allow many small businesses and struggling
wage-earning debtors to benefit from enhanced bankruptcy
protections during the uncertain business climate brought on from
COVID-19. However, it will not change the mechanics of the
administration of the affected bankruptcy estates.


[^] 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

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.

Arthur Fleischer, Jr. is a Senior Partner of the law firm, Fried,
Frank, Harris, Shriver & Jacobson.  For over 40 years, he has led
the Firm's Mergers and Acquisitions Practice.  He regularly
represents corporate clients, both as acquirers and targets as well
as many of the leading investment banking firms.  Mr. Fleischer
served as Executive Assistant to the Chairman of the United States
Securities and Exchange Commission from 1961 to 1964.   He is the
co-author of Takeover Defense: Mergers and Acquisitions (Wolters
Kluwer/Aspen 7th edition, 2015) and the author of numerous articles
on securities regulation.  He is a graduate of the Yale Law
School.

Geoffrey Cornell Hazard Jr. served as Trustee Professor of Law
Emeritus at the University of Pennsylvania Law School and the
Thomas E. Miller Distinguished Professor of Law Emeritus at the
University of California's Hastings College of the Law.  He was
also Sterling Professor Emeritus of Law at Yale Law School.  From
1984 to 1999, Professor Hazard was the director of the American Law
Institute.  He was Reporter for the American Bar Association
special committee that drafted the lawyers' ethics code and the
author of several books and articles on legal ethics and civil
procedure.  He was a graduate of Columbia Law School.  Professor
Hazard died January 10, 2018.

Miriam Z. Klipper was an Assistant District Attorney at the New
York County District Attorney's Office, prosecuting corporate and
financial fraud. She has practiced as a corporate attorney with a
Wall Street Firm and served as a consultant on privatization and
corporate governance in Eastern Europe. Ms. Klipper is a graduate
of the Yale Law School.


                            *********

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 ***