/raid1/www/Hosts/bankrupt/TCR_Public/210730.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 30, 2021, Vol. 25, No. 210

                            Headlines

121 LANGDON STREET: Claims Will be Paid in Full from Rental Income
15005 NW: Sept. 7 Plan Confirmation Hearing Set
220 52ND STREET: Seeks to Hire Laird Klein as Real Estate Broker
286 RIDER AVE: Seeks to Employ Robinson Brog as Bankruptcy Counsel
340 BISCAYNE OWNER: Miami Downton Holiday Inn Enters Chapter 11

340 BISCAYNE: Seeks Cash Collateral Access
511 GROUP: Asks Court to Extend Plan Exclusivity Until Oct. 25
ADVANCED CLEANUP: Seeks to Hire Leslie Cohen as Bankruptcy Counsel
ADVANCED ENVIRONMENTAL: Taps Leslie Cohen Law as Bankruptcy Counsel
AIWA CORP: Hearing Next Week on Cash Collateral Use

AJRANC INSURANCE: Wins Cash Collateral Access Thru Sept. 13
AMERICAN MOBILITY: Sept. 16 Plan Confirmation Hearing Set
ARS REI USA: Third Rvsd. Disclosures OK'd, Sept. 1 Plan Hearing Set
ASAIG LLC: Creditors to Get Proceeds From Liquidation
BALLY'S CORP: Moody's Hikes CFR to B1 & Rates First Lien Loans Ba2

BLACK FORGE COFFEE: Seeks to Hire Bernstein-Burkley as Counsel
BLACK FORGE: Seeks to Hire Bernstein-Burkley as Legal Counsel
BLACKWATER TECHNOLOGIES: Court Confirms Plan of Reorganization
BONNIE TILE: Seeks to Employ Ackerman Rodgers as Accountant
BOUCHARD TRANSPORTATION: Auction Gets $245M for Assets

BOUCHARD TRANSPORTATION: Combined Hearing Reset to August 18
BRAZOS ELECTRIC: Evaluates Bankers for Possible Securitization
BY CHLOE: Rebranded as 'Beatnic' After Bankruptcy Case Dismissal
CASABLANCA GLOBAL: S&P Alters Outlook to Pos., Affirms 'CCC+' ICR
CINCINNATI TERRACE: Taps David Goldwasser of FIA Capital as CRO

CINCINNATI TERRACE: Taps Goldberg Weprin as Bankruptcy Counsel
CLEARPOINT CHEMICALS: Unsecureds Owed $18M to Get $400K in Plan
COMMUNITY HEALTH: Reports Second Quarter 2021 Results
CONCISE INC: Sept. 29 Plan & Disclosure Hearing Set
CRESTWOOD EQUITY: Moody's Ups CFR to Ba2 & Alters Outlook to Stable

CRIMSONBIKES LLC: Trustee Taps Anderson Aquino as Legal Counsel
DAKOTA TERRITORY: Seeks Cash Collateral Access
DAVIDZON RADIO: Unsecured Claims Under $200 to be Paid in Full
DBMP LLC: Seeks Approval to Hire Donlin, Recano and Company
DELTA MATERIALS: Unsecured Creditors to Get $240K over 24 Months

DIAMOND OFFSHORE: Merger Rumor Prompts Biggest Investor Suit
DIOCESE OF SYRACUSE: Seeks to Employ Cybersecurity Consultant
DIOCESE OF SYRACUSE: Taps Mullen Coughlin as Special Counsel
DURRANI M.D.: Unsecured Creditors to Recover 50% in 60 Months
EASTERDAY RANCHES: DOJ Objects $3.8 Mil. Legal Bill in Bankruptcy

ENC PARENT: Moody's Assigns 'B3' CFR & Rates First Lien Debt 'B3'
ENC PARENT: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable
FERROGLOBE PLC: Needs to Raise More Funds After Debt Restructuring
FIRSTENERGY CORP: Moody's Affirms Ba1 CFR Following DOJ Agreement
FLEXSYS INC: S&P Assigns 'B' Issuer Credit Rating, Outlook Stable

FLUSHING AIRPORT: Disclosure Statement Hearing Slated for August 31
FLUSHING AIRPORT: Settlement Money to Fund Chapter 11 Plan
FURNITURE FACTORY: Disclosures OK'd; Sept. 16 Conf. Hearing Set
G-III APPAREL: Moody's Affirms Ba3 CFR & Alters Outlook to Positive
GAINCO INC: Fourth Cash Collateral Order Amended

GEON PERFORMANCE: S&P Assigns 'B' ICR, Outlook Stable
GIRARDI & KEESE: California Bar Plans Random Trust Account Audits
GORDON BROTHERS: Unsecureds Will Get 100% Plus Interest
GREAT AMERICAN: Disclosure Hearing Continued to August 19
HEARTWISE INC: Amended Disclosure Hearing Continued to September 1

HOOD LANDSCAPING: Disclosure Statement Hearing Set for Sept. 14
HOPE ACADEMY: Fitch Withdraws 'B' Issuer Default Rating
HOUSTON AMERICAN: Four Proposals Passed at Annual Meeting
IMERYS TALC: Asks Court to Make J&J Pay for Baby Powder Claims
IRONWOOD FINANCIAL: Taps Mitchell, McNutt & Sams as Legal Counsel

JOHNSON & JOHNSON: House Subcommittee Asks About Bankruptcy Plans
JOHNSON & JOHNSON: Talc Claimants to Pre-Empt Bankruptcy Strategy
JTS TRUCKING: Unsecureds to Split Residual Sale Proceeds Pro Rata
KEHE DISTRIBUTORS: S&P Ups ICR to 'B+' on Improved Credit Metrics
LCF LABS: Court Confirms Second Amended Reorganization Plan

LIMETREE BAY: Hires Jefferies to Help Sell Refinery Business
LIMETREE BAY: Plans Chapter 11 Asset Sale by Middle of October 2021
LIMETREE:Wants Pollution Lawsuits vs. Private-Equity Backers Halted
LLADRO GALLERIES: Court Confirms Sale Plan
LYONS DEVELOPMENT: Seeks to Hire Rehan N. Khawaja as Legal Counsel

MAIN STREET INVESTMENTS II: Files Plan to Settle $2.5M CCDFI Note
MURRAY ENERGY: CEO Death Ends Lawyer Deal Confidentiality Suit
MW HEALTHCARE: Fitch Assigns 'BB' IDR, Outlook Negative
MY FL MANAGEMENT: Resolves Plan Dispute With Lender A&D
NATIONAL SMALL BUSINESS: Plan to be Funded by Business Income

NEWREZ LLC: District Court Reverses Bankruptcy Court Sanction Order
NEXTPLAY TECHNOLOGIES: Closes Acquisition of IFEB
OMKAR HOTELS: May Use Cash Collateral Through August 12
ORIGINCLEAR: Designates 40K Shares as Series V Preferred Stock
PARADISE REDEVELOPMENT: Unsecureds to Have 100% Recovery in Plan

PETROTEQ ENERGY: Completes Feed Study for 5K Barrel Per Day Plant
PG&E CORP: Fire Victims See Settlement Fund Damaged by Wildfire
PHILIPPINE AIRLINES: Independent Director Gregorio Yu Resigns
PHOENIX NEWCO: Moody's Assigns B2 CFR & Rates 1st Lien Loans B1
PORTOFINO TOWERS: Wants Oct. 25 Plan Exclusivity Extension

PREMIER DENTAL: S&P Assigns 'B-' ICR on Revolving Credit Facility
PROJECT SKY: Moody's Assigns 'B3' CFR & Rates First Lien Debt 'B2'
PURDUE PHARMA LP: Says Majority of Voting Creditors Support Plan
REGENTS COURT: Aug. 19 Plan & Disclosure Statement Hearing Set
REGENTS COURT: Plan Payments to Depend on Property Sale

REMINGTON: To Pay $33 Mil. for Sandy Hook Victims' Families
RGN-GROUP HOLDINGS: Disclosures OK'd, Aug. 19 Hearing on Plan Set
RITE AID: Fitch Affirms 'B-' LT IDR & Alters Outlook to Negative
RYAN SPECIALTY: S&P Ups ICR to 'BB-' on IPO Launch, Outlook Stable
SAMARCO MINERACAO: Brazil Court OKs Loan From Vale-BHP Venture

SOMETHING SWEET: Taps Bielli & Klauder as Bankruptcy Counsel
SOMETHING SWEET: Taps Peakstone Group as Investment Banker
SPECTRUM HOLDINGS III: Moody's Raises CFR to Caa1, Outlook Stable
TENTLOGIX INC: Unsec. Creditors to Get $5K Per Quarter for 5 Years
TRIUMPH GROUP: Stockholders Approve 3 Proposals at Annual Meeting

VASCULAR ACCESS: U.S. Trustee Says Plan Patently Unconfirmable
VENOCO LLC: Calif. Wants the High Court to Toss Its Takings Suit
VENTURE GLOBAL: Moody's Assigns Ba3 Rating to $1.5BB Secured Notes
VITALITY HEALTH: $3.2M Equity from Sponsor ZAM to Fund Plan
WARDMAN HOTEL OWNER: Sues Marriott Hotel to Seek $7 Mil. Clawback

WASHINGTON PRIME: Investors Want to Slow Down Bankruptcy Sale
WEINSTEIN CO: Studio Purchaser Says It Doesn't Owe 'Scream' Profits
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                            *********

121 LANGDON STREET: Claims Will be Paid in Full from Rental Income
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121 Langdon Street Group, LLP filed with the U.S. Bankruptcy Court
for the Western District of Wisconsin a Disclosure Statement
describing Plan of Reorganization dated July 26, 2021.

Debtor contacted and retained Krekeler Strother, S.C., to file
Chapter 11 Case No. 21-10886-11 on April 26, 2021.  It was
determined that it was in the best interest of the Debtor and its
creditors that the Debtor continue to own and operate the real
estate located at 121 Langdon Street, Madison, Wisconsin ("121
Langdon").

Since the bankruptcy case was filed, the Debtor entered into a
Stipulation for Order Authorizing Use of Cash Collateral and
Providing Adequate Protection with the first mortgage holder,
Midland States Bank, and with the second mortgage holder, Lokre.
Debtor is making its interest-only payments to Midland in the
amount of $5,009.54 and to Lokre in the amount of $1,965.57
commencing in accordance with that Stipulation.  The Debtor is
escrowing for 2021 real estate taxes in the amount of $3,159 per
month by depositing this sum in the Trust Account of Debtor's
counsel, Krekeler Strother, S.C.

The Debtor continues to manage 121 Langdon during the pendency of
this case. Debtor foresees continuing to manage 121 Langdon and
does not see any reason to hire a separate management company.

The current leases and/or executory contracts and parking
agreements that the Debtor has with the current and future tenants
of 121 Langdon shall be assumed by the Debtor. The Debtor is not in
default on any of the terms and provisions of the tenant leases.

The Debtor's Plan of Reorganization provides for payment in full of
allowed secured, priority and general unsecured claims. All
proposed payments under the Plan of Reorganization shall be made
monthly from the Debtor's continued management and rental of the
Collegiate. The amortization of some of these obligations are
proposed to be extended to provide for adequate cash flow and debt
service.

Cash flow projections were determined by reviewing the Debtor's
historical revenues and expenses and the Debtor's current
operations.  The Debtor's cash flow projection averages the
anticipated income taking into account when there are some
vacancies, which are minimal; the Debtor rarely experiences a
vacancy rate of more than 1% due to its location near downtown
Madison and the UW-Madison campus.

The Debtor's equity holders shall retain their ownership interest
upon confirmation of this Plan.

To effectuate the proposed Plan, the Debtor shall continue its
operation in the residential rental business and parking lot rental
business.  The Debtor will utilize profits, revenues, income from
operations, and cash on hand on the effective date.

A full-text copy of the Disclosure Statement dated July 26, 2021,
is available at https://bit.ly/2TIri3W from PacerMonitor.com at no
charge.

Attorneys for Debtor:

     KREKELE STROTHER, S.C.
     Kristin J. Sederholm
     State Bar No. 1001895
     2901 West Beltline Highway, Suite 301
     Madison, WI 53713
     (608)258-8555
     E-mail: ksederho@ks-lawfirm.com
      
                 About 121 Langdon Street Group
  
121 Langdon Street Group, LLP sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. Wis. Case No. 21-10886) on April
26, 2021.  At the time of filing, the Debtor disclosed up to $10
billion in both assets and liabilities.  

Judge Catherine J. Furay oversees the case.  

Krekeler Strother, S.C. is the Debtor's legal counsel.

Lokre Development Company, as lender, is represented by:

     Eric R. Johnson, Esq.
     Buzza, Dreier & Johnson, LLC
     2925 Post Road
     Stevens Point, WI 54481
     Tel: (715)997-9080

Midland States Bank, as lender, is represented by:

     Ryan T. Carlson, Esq.
     R. Carlson Law Offices
     PO Box 1074
     Brookfield, WI 53608
     Tel: 262-269-8228


15005 NW: Sept. 7 Plan Confirmation Hearing Set
-----------------------------------------------
On July 22, 2021, debtors 15005 NW Cornell LLC ("NW Cornell") and
Vahan M. Dinihanian, Jr. ("Dinihanian") filed with the U.S.
Bankruptcy Court for the District of Oregon a Disclosure Statement
and Plan.

On July 26, 2021, the Bankruptcy Court approved the Disclosure
Statement and ordered that:

     * Sept. 7, 2021 at 1:30 PM by Video Hearing is the hearing on
confirmation of the plan.

     * Written ballots accepting or rejecting the plan or amended
plan must be received no less than 7 days before the hearing date.


     * Objections to the proposed plan must be filed no later than
7 days before the hearing date.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/3rEce3G from PacerMonitor.com at no charge.

Attorneys for Vahan M. Dinihanian, Jr.:

        Nicholas J. Henderson
        MOTSCHENBACHER & BLATTNER, LLP
        117 SW Taylor St., Suite 300
        Portland, OR 97204
        Telephone: (503) 417-0508
        Facsimile: (503) 417-0528
        E-mail: nhenderson@portlaw.com

Attorneys for 15005 NW:

        Douglas R. Pahl
        PERKINS COIE LLP
        1120 N.W. Couch Street, 10th Floor
        Portland, OR 97209-4128
        Telephone: 503.727.2000
        Facsimile: 503.727.2222
        E-mail: DPahl@perkinscoie.com

                     About 15005 NW Cornell

15005 NW Cornell LLC and its owner Vahan Megar Dinihanian, Jr.,
sought Chapter 11 protection (Bankr. D. Ore. Case Nos. 19-31883 and
19-31886) on May 21, 2019.

Vahan Megar Dinihanian Jr. is an individual who owns and operates
multiple business entities, including several entities that own and
lease commercial real estate, a floral products business, and
entities that provide engineering and consulting services.
Dinihanian's principal business is operating Eagle Holdings, LLC,
which owns other real estate-centered entities.

NW Cornell's primary asset is its 50 percent tenant-in-common
ownership interest is 37 acres of undeveloped real property located
at 15005 NW Cornell Road, Beaverton, Oregon. 15005 NW Cornell LLC,
based in Beaverton, OR, was estimated to have $10 million to $50
million in assets and $1 million to $10 million in liabilities as
of the bankruptcy filing.

The Hon. Trish M. Brown oversees the cases.

15005 NW Cornell tapped Douglas Pahl, a partner of Perkins Coie
LLP, as bankruptcy counsel.  Motschenbacher & Blattner LLP is
Dinihanian's general bankruptcy counsel.


220 52ND STREET: Seeks to Hire Laird Klein as Real Estate Broker
----------------------------------------------------------------
220 52nd Street, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to hire Laird Klein Sotheby's
International Realty to assist with the sale and disposition of its
real property at 137 Kreischer St., Staten Island, N.Y.

The firm will receive a commission of 5 percent of the total sale
price of the property.

Anthony Puccio, a real estate broker at Laird Klein, 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:

     Anthony Puccio
     Laird Klein Sotheby's International Realty
     2110 Richmond Road
     Staten Island, NY 10306
     Tel.: 718-980-6700

                      About 220 52nd Street LLC

220 52nd Street, LLC owns four real estate properties in New York
and California, having a total current value of $4.76 million.

220 52nd Street filed a Chapter 11 petition (Bankr. E.D.N.Y. Case
No. 19-44646) on July 30, 2019. In the petition signed by Ruslan
Agarunov, president, the Debtor disclosed $4,760,124 in assets and
$3,705,011 in liabilities.  Judge Elizabeth S. Stong oversees the
case.  The Law Offices of Alla Kachan, P.C. serves as the Debtor's
bankruptcy counsel.


286 RIDER AVE: Seeks to Employ Robinson Brog as Bankruptcy Counsel
------------------------------------------------------------------
286 Rider Ave Acquisition, LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
Robinson Brog Leinwand Greene Genovese & Gluck, P.C. to serve as
legal counsel in its Chapter 11 case.

The firm's services include:

     (a) providing advice to the Debtor with respect to its powers
and duties under the Bankruptcy Code in the continued operation of
its business and the management of its property;

     (b) negotiating with creditors of the Debtor, preparing a plan
of reorganization, and taking the necessary legal steps to
consummate a plan, including, if necessary, negotiations with
respect to financing a plan;

     (c) appearing before the various taxing authorities to work
out a plan to pay taxes owing in installments;

     (d) preparing legal documents;

     (e) appearing before the court; and
  
     (f) assisting the Debtor in connection with all aspects of its
Chapter 11 case.

The firm's hourly rates are as follows:

     Shareholders and counsel         $450 - $775 per hour
     Associates                       $410 - $500 per hour
     Paralegal and support staff      $250 - $285 per hour
     
The Debtor paid $51,738 to the law firm as a retainer fee.

Fred Ringer, Esq., shareholder of Robinson, 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:

     Fred B. Ringel
     Robinson Brog Leinwand Greene Genovese & Gluck P.C.
     875 Third Avenue
     New York, New York 10022
     Tel.: (212) 603-6301
     Fax: (212) 956-2164
     Email: fbr@robinsonbrog.com

                  About 286 Rider Ave Acquisition

286 Rider Ave Acquisition, LLC filed a Chapter 11 petition (Bankr.
S.D. N.Y. Case No. 21-11298) on July 15, 2021.  At the time of the
filing, the Debtor had between $1 million and $10 million in both
assets and liabilities. Lee E. Buchwald, manager, signed the
petition.  Judge Lisa G. Beckerman oversees the case.  Fred B.
Ringel, Esq., at Robinson Brog Leinwand Greene Genovese & Gluck,
P.C., serves as the Debtor's legal counsel.


340 BISCAYNE OWNER: Miami Downton Holiday Inn Enters Chapter 11
---------------------------------------------------------------
Matthew Arrojas of South Florida Business Journal reports that the
owner of a hotel in Miami filed for bankruptcy, citing the lack of
cruise travelers as a key reason for its revenue woes during the
pandemic.

340 Biscayne Owner LLC, owner of the 200-room Holiday Inn Port of
Miami Downtown, filed for Chapter 11 bankruptcy protection Monday,
July 26, 2021, in U.S. Bankruptcy Court for the Southern District
of Florida.

The lender for two of the hotel's loans plans to foreclose on the
property, so the bankruptcy filing is an attempt by 340 Biscayne
Owner to reorganize its debt and refinance those loans as it awaits
the return of more cruise customers, bankruptcy manager Cristiane
Bomeny wrote in the declaration.

According to court documents, 340 Biscayne Owner has over $100
million in estimated assets. A large portion of the hotel's value
comes from the option to buy the land it occupies at 340 Biscayne
Blvd. from its landlord for more than $100 million.

The total debt due under the two loans is $37 million, according to
the bankruptcy declaration.

Bomeny wrote in the declaration that, prior to the pandemic, cruise
passengers made up about 70% of its guests between Thursdays and
Sundays. In 2019, more than one-third of the hotel's reservations
originated from contractual agreements related to the cruise
industry.

However, cruise operations in the U.S. were suspended in March 2020
due to the Covid-19 pandemic, and they didn't resume until June
2021. Even though cruise lines have resumed operations at
PortMiami, they are doing so at limited capacities with fewer
ships.

According to court documents, the hotel's lender, a subsidiary of
Aventura-based Kawa Capital Management, and owner negotiated a
forbearance agreement, which was set to expire April 15, 2021.
Prior to that date, the owner stated it delivered a loan commitment
to the lender that would pay the debt in full. However, 340
Biscayne Owner LLC did not close on refinancing for the loan by
April 15, and the lender was not willing to grant an extension.

Occupancy rates at Holiday Inn Port of Miami Downtown have been
above 80% since January, the owner said in a statement. That's
allowed the hotel to break even on its expenses and keep up with
other obligations, including rent.

Linda Jackson, an attorney at Miami law firm Pardo Jackson
Gainsburg PL, is representing 340 Biscayne Owner LLC in the
bankruptcy case. She said the owner plans to continue operations
during the bankruptcy process and refinance the two outstanding
loans.

"By taking this action, the company hopes to file a plan and exit
court protection as quickly as possible," Jackson said. “We are
confident the successful restructuring will have long-term benefits
for the hotel’s employees, vendors and business partners."

340 Biscayne Owner LLC has owned and operated the Holiday Inn Port
of Miami Downtown hotel since 2015, according to court documents.
It does not, however, own the land the hotel occupies.

Another subsidiary of Kawa Capital Management is the landlord,
according to the bankruptcy declaration.

                      About 340 Biscayne Owner LLC

340 Biscayne Owner LLC is the owner of the 200-room Holiday Inn
Port of Miami Downtown, Florida.  340 Biscayne Owner sought Chapter
11 protection (Bankr. S.D.Fla. Case No. 21-17203) on July 26, 2021.
In its petition, 340 Biscayne estimated assets of between
$100,000,001 to $500 million and estimated liabilities of between
$1 million and $10 million.  Linda W Jackson of PARDO JACKSON
GAINSBURG PL, is the Debtor's counsel.


340 BISCAYNE: Seeks Cash Collateral Access
------------------------------------------
340 Biscayne Owner LLC asks the U.S. Bankruptcy Court for the
Southern District of Florida for authority to use cash collateral
and provide adequate protection.

The Debtor requires the use of cash collateral to acquire goods and
services necessary for its day-to-day operations or generally
maintain and preserve the going concern, enterprise value of the
business.

As of the Petition Date, the total claims of all secured and
unsecured debt of the Debtors was less than $40 million with the
secured debt constituting approximately $37 million.

The Debtor proposes to use the Cash Collateral to pay for U.S.
Trustee's Fees, Attorney's Fees, and hotel operations in accordance
with the terms of the Budget through October 2021.

The Debtor intends to utilize Cash Collateral for the next thirty
days in an aggregate amount of $942,650.

As adequate protection, the Debtor proposes to grant the Lender a
replacement lien pursuant to 11 U.S.C. section 361(2) on and in all
property of the Debtor acquired or generated after the Petition
Date, but solely to the same extent and priority, and of the same
kind and nature, as the property of the Debtor securing the
pre-petition obligations to the Lender under the 340 Biscayne Loan
Documents.

The Debtor also requests that any replacement liens granted to the
Lender be at all times subject and junior to: (i) the fees of the
Office of the United States Trustee pursuant to 28 U.S.C. section
1930; (ii) any court costs, and (iii) the fees and expenses for
Court-approved professionals for the Debtor pursuant to Court
order.

A copy of the motion is available at https://bit.ly/3x99n3R from
PacerMonitor.com.

                   About 340 Biscayne Owner LLC

340 Biscayne Owner LLC is part of the hotels & motels industry. The
Debtor sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Fla. Case No. 21-17203) on July 26, 2021. In the
petition signed by Cristiane Bomeny, manager, the Debtor disclosed
up to $500 million in assets and up to $50 million in liabilities.


Linda Jackson, Esq. at Pardo Jackson Gainsburg, PL is the Debtor's
counsel.


511 GROUP: Asks Court to Extend Plan Exclusivity Until Oct. 25
--------------------------------------------------------------
Debtor 511 Group LLC requests the U.S. Bankruptcy Court for the
Southern District of Florida to extend the exclusive periods during
which the Debtor may file a plan of reorganization to October 25,
2021, and solicit acceptances to December 25, 2021.

The Debtor and Creditors have been negotiating toward a consensual
plan, but additional time is needed due to continued state court
litigation, and delays caused by the COVID-19 pandemic.

The Debtor needs more time to resolve issues in this case,
negotiate with creditors, amend plan and disclosure statement, and
solicit acceptances.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/377nTyB from PacerMonitor.com.

                            About 511 Group LLC

511 Group LLC, a Miami Beach, Fla.-based limited liability company,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Fla. Case No. 20-21098) on October 12, 2020. In its petition,
the Debtor estimated both assets and liabilities to be between
$100,001 and $500,000.

Judge A. Jay Cristol presides over the case. Joel M. Aresty P.A. is
the Debtor's legal counsel.


ADVANCED CLEANUP: Seeks to Hire Leslie Cohen as Bankruptcy Counsel
------------------------------------------------------------------
Advanced Cleanup Technologies, Inc. seeks approval from the U.S.
Bankruptcy Court for the Central District of California to hire
Leslie Cohen Law, PC to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) advising the Debtor regarding its rights and
responsibilities under the U.S. Bankruptcy Code, the Federal Rules
of Bankruptcy Procedure and the Local Bankruptcy Rules, and how the
application of such provisions relates to the administration of the
Debtor's estate;

     (b) assisting the Debtor in the preparation of certain
documents to be filed with the bankruptcy court or the Office of
the United States Trustee;

     (c) representing the Debtor, with respect to bankruptcy
issues, in the context of its pending Chapter 11 case and
representing the Debtor in contested matters;

     (d) assisting the Debtor in the negotiation, formulation and
confirmation of a plan of reorganization; and

     (e) rendering services for the purpose of pursuing, litigating
or settling litigation as may be necessary and appropriate in
connection with the case.

The firm's hourly rates are as follows:

     Leslie Cohen, Esq.            $575 per hour
     J’aime Williams, Esq.         $410 per hour
     Senior Contract Attorneys     $350 per hour
     Paraprofessionals             $110 per hour

The Debtor paid $103,158.40 to the law firm as a retainer fee.

Leslie Cohen, Esq., president and sole shareholder of the firm,
disclosed in a court filing that her firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Leslie A. Cohen, Esq.
     J’aime K. Williams Esq.
     Leslie Cohen Law, PC
     506 Santa Monica Blvd., Suite 200
     Santa Monica, CA 90401
     Tel.: (310) 394-5900
     Fax: (310) 394-9280
     Email: leslie@lesliecohenlaw.com
            jaime@lesliecohenlaw.com

                 About Advanced Cleanup Technologies

A group of creditors of Advanced Cleanup Technologies, Inc. filed
an involuntary Chapter 7 bankruptcy petition (Bankr. C.D. Calif.
Case No. 21-12762) against the company on April 5, 2021.

The petitioning creditors are GOLO LLC, NEAA Inc., ENAA Inc.,
Francesco & Linda Funiciello, Ronnie and Sunny Melendez, Nasser
Nando Ghorchian, Alberto Amiri and Talya Enterprises, Kevin King,
and Michael Funiciello.  The creditors are represented by Winthrop
Golubow Hollander, LLP.

On July 2, 2021, the court entered an order converting the case to
one under Chapter 11.  Judge Sheri Bluebond oversees the case.
Leslie Cohen Law, PC serves as the Debtor's legal counsel in its
bankruptcy case.


ADVANCED ENVIRONMENTAL: Taps Leslie Cohen Law as Bankruptcy Counsel
-------------------------------------------------------------------
Advanced Environmental Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Central District of California to hire
Leslie Cohen Law, PC to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) advising the Debtor regarding its rights and
responsibilities under the U.S. Bankruptcy Code, the Federal Rules
of Bankruptcy Procedure and the Local Bankruptcy Rules, and how the
application of such provisions relates to the administration of the
Debtor's estate;

     (b) assisting the Debtor in the preparation of certain
documents to be filed with the bankruptcy court or the Office of
the United States Trustee;

     (c) representing the Debtor, with respect to bankruptcy
issues, in the context of its pending Chapter 11 case and
representing the Debtor in contested matters;

     (d) assisting the Debtor in the negotiation, formulation and
confirmation of a plan of reorganization; and

     (e) rendering services for the purpose of pursuing, litigating
or settling litigation as may be necessary and appropriate in
connection with the case.

The firm's hourly rates are as follows:

     Leslie Cohen, Esq.              $575 per hour
     J’aime Williams, Esq.           $410 per hour
     Senior Contract Attorneys       $350 per hour
     Paraprofessionals               $110 per hour

The Debtor paid $103,158.40 to the law firm as a retainer fee.

Leslie Cohen, Esq., president and sole shareholder of the firm,
disclosed in a court filing that her firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Leslie A. Cohen, Esq.
     J’aime K. Williams Esq.
     Leslie Cohen Law, PC
     506 Santa Monica Blvd., Suite 200
     Santa Monica, CA 90401
     Tel.: (310) 394-5900
     Fax: (310) 394-9280
     Email:  leslie@lesliecohenlaw.com
             jaime@lesliecohenlaw.com

                 About Advanced Environmental Group

A group of creditors of Advanced Environmental Group, LLC filed an
involuntary Chapter 7 bankruptcy petition (Bankr. C.D. Case No.
21-12761) against the company on April 5, 2021.

The petitioning creditors are Innovative Engineering and
Maintenance, Inc., Muni-Fed Energy, Inc., Quinn Rental Services,
Inc., Ronnie and Sunny Melendez, Eric Granit R K Granit Employees
Retirement, Ronald Moore, Nasser Nando Ghorchian, Dr. Iraj Naima,
Jenna Development, Inc., GOLO, LLC, NEAA, Inc., ENAA, Inc., Alberto
Amiri and Talya Enterprises, and the U.S. Trustee.  The creditors,
which assert $11,432,307.79 in claims, are represented by Winthrop
Golubow Hollander, LLP.

On July 2, 2021, the court entered an order converting the case to
one under Chapter 11.  Judge Sheri Bluebond oversees the case.
Leslie Cohen Law, PC serves as the Debtor's legal counsel in its
bankruptcy case.


AIWA CORP: Hearing Next Week on Cash Collateral Use
---------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, has continued to August 5 at 9:30 a.m. the
hearing via Zoom for Government on the request of Aiwa Corporation
to use cash collateral.

The Court previously authorized the Debtor to use cash collateral
on an interim basis in accordance with the budget through July 30
and to provide adequate protection pending a final hearing.

The Debtor has represented that it needs to use Cash Collateral in
order to prevent immediate and irreparable harm to the estate.

Fairlane Fund One, LP and Fairlane Fixed Income Fund LLC, assert
that they are the current owner of the Prepetition Collateral,
having acquired ownership of these assets through a prepetition
sale agreed to by Pascal Garbani, in his capacity as the receiver
appointed by the District Court for the 44th Judicial District of
Dallas County, Texas, with respect to certain of the Debtor's
assets, as set forth in the Asset Purchase Agreement signed by the
Secured Creditors and the Receiver, and that the Proposed Sale had
been properly consummated prior to the Debtor's bankruptcy filing.


The Debtor asserts that the terms of the Asset Purchase Agreement
support the allegation that the value of the Prepetition Collateral
substantially exceeds the value of the Debtor's indebtedness to the
Secured Creditors.

The Debtor contests the position of the Secured Creditors that the
Proposed Sale had been consummated before the Debtor's bankruptcy
filing and states that the Texas Court has not entered any order
approving or confirming the Proposed Sale.

As adequate protection for the use of cash collateral, the Secured
Creditors will be granted the security interests and liens to the
extent it held these security interests and liens prepetition. Such
security interests and liens will be reguarded as postpetition
security interests and liens.

The Debtor will also provide continued maintenance of and
appropriate insurance on the Debtor's assets (and the assets on
which ownership is disputed by Secured Creditors), in the amounts
consistent with the Debtor's prepetition practices.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3zL5hkj from PacerMonitor.com.

The Debtor projects $48,110 in total receipts and $31,213 in total
disbursements.

                      About Aiwa Corporation

Chicago-based Aiwa Corporation -- https://aiwa.co/ -- f/k/a Hale
Devices, Inc. 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, Aiwa estimated total assets of $1,764,887 and total
liabilities of $5,818,251.  The case is handled by the Honorable
Deborah L. Thorne.  Jeremy C. Kleinman, of FrankGecker LLP, is the
Debtor's counsel.  William Avellone was appointed as the Debtor's
Subchapter V Trustee.



AJRANC INSURANCE: Wins Cash Collateral Access Thru Sept. 13
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division, has authorized AJRANC Insurance Agency, Inc. to use cash
collateral, on an interim basis, pending a further hearing
scheduled for September 13, 2021 at 1:30 p.m.

The Debtor is authorized to use Cash Collateral including, without
limitation, cash, deposit accounts, accounts receivable, and
proceeds from their business operations in accordance with the
budget, with a 10% variance. The Debtor is not authorized to pay a
car allowance to Anthony Borruso, the Debtor's president.  

As adequate protection with respect to the Lenders' interests in
the Cash Collateral, the Lenders are granted a replacement lien in
and upon all of the categories and types of collateral in which
they held a security interest and lien as of the Petition Date to
the same extent, validity and priority that they held as of the
Petition Date. As further adequate protection to Iberia, AJRANC
will make a monthly interest only payment calculated at a per diem
rate of $91, with such payment due on the tenth day of each month.


The Debtor is also directed to maintain insurance coverage for the
Collateral in accordance with the obligations under the loan and
security documents.

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

                  About AJRANC Insurance Agency

AJRANC Insurance Agency, Inc., based in Lutz, Fla., filed a Chapter
11 petition (Bankr. M.D. Fla. Case No. 20-06493) on August 27,
2020.  In the petition signed by Anthony L. Borruso, president, the
Debtor disclosed $1,869,283 in assets and $1,920,494 in
liabilities.  Stichter Riedel Blain & Postler, P.A., serves as
bankruptcy counsel to the Debtor.

Nine Family Circle Holdings, Inc. (Case No. 20-6494) and R.A.
Borruso, Inc. (Case No. 20-6495) also sought Chapter 11 protection.
The cases are jointly administered under AJRANC Insurance's case.



AMERICAN MOBILITY: Sept. 16 Plan Confirmation Hearing Set
---------------------------------------------------------
On July 21, 2021, debtor American Mobility, Inc. filed with the
U.S. Bankruptcy Court for the Eastern District of North Carolina a
disclosure statement and plan.

On July 26, 2021, Judge Joseph N. Callaway conditionally approved
the disclosure statement and ordered that:

     * September 16, 2021 at 11:30 AM in 300 Fayetteville Street,
3rd Floor Courtroom, Raleigh, NC 27601 is the hearing on
confirmation of the plan.

     * September 7, 2021 is fixed as the last day for filing and
serving written objections to the disclosure statement.

     * September 7, 2021 is fixed as the last day for filing
written acceptances or rejections of the plan.

     * September 7, 2021 is fixed as the last day for filing and
serving written objections to confirmation of the plan.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/2WsibVT from PacerMonitor.com at no charge.

Attorney for the Debtor:

     J.M. Cook
     J.M. Cook, P.A.
     5886 Faringdon Place
     Suite 100
     Raleigh, NC 27609
     Tel: 919.675.2411
     Fax: 919.882.1719
     Email: J.M.Cook@jmcookesq.com

            About American Mobility

American Mobility, Inc. filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No.
21-01352) on June 11, 2021.  William Ryan, president, signed the
petition.  In its petition, the Debtor disclosed total assets of up
to $500,000 and total liabilities of up to $10 million.  

Judge Joseph N. Callaway oversees the case.

J.M. Cook, Esq., at J.M. Cook, PA, serves as the Debtor's legal
counsel.


ARS REI USA: Third Rvsd. Disclosures OK'd, Sept. 1 Plan Hearing Set
-------------------------------------------------------------------
Judge Martin Glenn approved the Third Amended Disclosure Statement
of ARS REI USA Corp.

The Court will hold a hearing to consider confirmation of the
Second Amended Plan on September 1, 2021 at 11 a.m. (prevailing
Eastern Time) via Zoom for Government.  

Objections to confirmation of the Second Amended Plan must be filed
by 5 p.m. (prevailing Eastern Time) on August 25, 2021.  The Debtor
is directed to file and serve its memorandum in support of
confirmation and any response to any objections to confirmation by
5 p.m. on August 30.

Ballots, to be counted, must be delivered no later than 5 p.m.
(prevailing Eastern Time) on August 27, 2021.  The Debtor shall
file its certification of the balloting pursuant to Local Rule
3018-1 by 5 p.m. on August 30, 2021.

A copy of the order is available for free at https://bit.ly/3l48iIg
from PacerMonitor.com.


                      About ARS REI USA Corp.

ARS REI USA Corp. is in the business of selling handcrafted jewelry
manufactured in Madrid, Spain by ARS REI S.L., exclusively in the
United States.

ARS REI USA Corp. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
20-11937) on Aug. 19, 2020. In the petition signed by Jason McNary,
CEO, the Debtor disclosed $4,248,640 in assets and $3,904,607 in
liabilities.  Judge Martin Glenn presides over the case.  Jeffrey
A. Reich, Esq. at Reich Reich & Reich, P.C., is the Debtor's
counsel, and Raich Ende Malter & Co. LLP is its accountant.


ASAIG LLC: Creditors to Get Proceeds From Liquidation
-----------------------------------------------------
ASAIG, LLC, and ASAIG SubCo, LLC f/k/a Aztec/Shaffer, LLC filed
with the U.S. Bankruptcy Court for the Southern District of Texas a
Joint Combined Chapter 11 Plan and Disclosure Statement dated July
26, 2021.

The Debtors' inability to service their mounting debt obligations
and other trade payable obligations due to the prolonged downturn
in the economy resulted in a severe cash flow shortage. Through
these Chapter 11 Cases, the Debtors sought protection of the
Bankruptcy Code's automatic stay while they endeavored to
reorganize their business affairs and conduct a Sale of
substantially all of their Assets under section 363 of the
Bankruptcy Code.

On April 6, 2021, the Debtors conducted the Auction to determine
the Successful Bidder and Back-Up Bidder for the Purchased Assets.
Upon the conclusion of the Auction, the Debtors, exercising their
business judgment, and in consultation with the Consultation
Parties, selected AAS BidCo, LLC as the Successful Bidder for the
Purchased Assets. The Buyer is a special purpose joint venture
entity comprised of: (i) AES Arena Event Services Holdings Limited;
(ii) SBN VIII ASE LLC; and (iii) the AIG Lenders.

The Successful Bid for the Purchased Assets submitted by the Buyer
was a Whole Company Bid with consideration valued by the Debtors in
the amount of $25,600,000 plus the assumption of certain
liabilities of the Debtors. The Successful Bid included a Credit
Bid pursuant to section 363(k) of the Bankruptcy Code of
Prepetition Secured Loan Claims – i.e., First Lien Debt and
Second Lien Debt – owed to the AIG Lenders equal to $14,000,000.
Further, the Successful Bid provided an amount in Cash necessary to
pay 100% of the outstanding DIP Loan Claims owed to the DIP Lenders
as of the Closing Date.

After the Sale Hearing held on April 16, 2021, the Bankruptcy Court
entered its Sale Order approving the Sale of the Purchased Assets
to the Buyer. The Sale Order and APA provide that the balance of
the Prepetition Secured Loan Claims owed to the AIG Lenders which
were not included in the Credit Bid were retained by the AIG
Lenders as a Deficiency Claim (which shall be treated as a General
Unsecured Claim under this Plan); provided, however, that the AIG
Lenders agreed to waive and release their right to receive on
account of their Deficiency Claim, adequate protection Claims or
otherwise, any portion of the first $200,000 distributed to General
Unsecured Creditors.

The Purchased Assets specifically include all of the Purchased
Actions as defined in the APA. The only Causes of Action remaining
as Assets of the Estates are those Excluded Actions designated in
the APA. The Sale of the Purchased Assets to Buyer closed on April
23, 2021.

The Plan provides for an orderly and prompt liquidation of the
Debtors' Assets and provides the best potential for distribution to
Holders of Allowed Claims against the Debtors. The Debtors believe
that their efforts to maximize the return for Holders of Claims and
Equity Interests have been full and complete. The Debtors further
believe that the Plan meets the requirements of the Bankruptcy Code
and is in the best interests of all creditors.

Class 1 consists of Allowed Priority Non-Tax Claim. Each Holder of
an Allowed Priority Non-Tax Claim shall be entitled to receive, on
or after the Effective Date, in full and final satisfaction,
compromise, settlement, release, and discharge of and in exchange
for each Priority Non-Tax Claim: (i) payment in full in Cash of its
Allowed Class 1 Claim; or (ii) such other treatment as is
consistent with the requirements of Bankruptcy Code section
1129(a)(9). Class 1 is Unimpaired under the Plan.

Class 2 shall consist of the Allowed Other Secured Claims. On the
Effective Date, except to the extent that a Holder of an Allowed
Class 2 Claim agrees to a less favorable treatment, Holders of
Allowed Class 2 Claims shall receive, in full and final
satisfaction, compromise, settlement, release, and discharge of and
in exchange for each Class 2 Claim, payment in full in Cash. Class
2 is Unimpaired under the Plan.

Class 3 shall consist of all Allowed General Unsecured Claims
against the Debtors, including, for the avoidance of doubt any
Deficiency Claim retained by the AIG Lenders pursuant to the Sale
Order, Final DIP Order, First Lien Credit Agreement, and Second
Lien Credit Agreement, as applicable. Holders of Allowed Class 3
Claims shall receive, in full and final satisfaction, compromise,
settlement, release, and discharge of and in exchange for each
Class 3 Claim, Liquidating Trust Beneficial Interests redeemable.
Class 3 is Impaired under the Plan.

Class 4 shall consist of all Allowed Subordinated Claims against
the Debtors. Holders of Allowed Class 4 Claims shall receive, in
full and final satisfaction, compromise, settlement, release, and
discharge of and in exchange for each Class 4 Claim, Liquidating
Trust Beneficial Interests redeemable.

Class 5 shall consist of the Equity Interests of the Debtors. Upon
the Effective Date, all Equity Interests in the Debtors shall be
cancelled and Holders of Equity Interests in the Debtors shall
receive Liquidating Trust Beneficial Interests redeemable.

Attorneys for the Debtors:

     Matthew S. Okin
     David L. Curry, Jr.
     Ryan A. O'Connor
     OKIN ADAMS LLP
     1113 Vine St., Suite 240
     Houston, Texas 77002
     Tel: 713.228.4100
     Fax: 888.865.2118
     Email: mokin@okinadams.com
     Email: dcurry@okinadams.com
     Email: roconnor@okinadams.com

                          About ASAIG LLC

ASAIG, LLC filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 20- 5600)
on Nov. 17, 2020. The petition was signed by A. Kelly Williams,
manager.  At the time of the filing, the Debtor had estimated
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million. Judge Marvin Isgur oversees
the case.  Matthew Okin, Esq., at Okin Adams LLP, represents the
Debtor as counsel.


BALLY'S CORP: Moody's Hikes CFR to B1 & Rates First Lien Loans Ba2
------------------------------------------------------------------
Moody's Investors Service upgraded Bally's Corporation's Corporate
Family Rating to B1 from B2 and Probability of Default Rating to
B1-PD from B2-PD. A Ba2 was assigned to the company's amended and
extended up to $750 million 1st lien revolver expiring 2026 and new
$1.445 billion 1st lien term loan B due 2028. Bally's Speculative
Grade Liquidity rating was also raised to SGL-1 from SGL-2. The
rating outlook is stable.

Proceeds from the new term loan will be part of the total financing
used to support Bally's merger with Gamesys Group plc (Gamesys)
that was announced on 18-April. The transaction is valued at $3.16
billion, or about 11x Gamesys' Dec. 31, 2020 fiscal year-end
adjusted EBITDA of $286 million. As part of the transaction,
Bally's existing revolver, $575 million term loans and $525 million
senior unsecured notes will be repaid in full.

This rating action concludes the review that was initiated on April
15, 2021 following Bally's announcement that is entered into an
agreement to acquire Gamesys.

Bally's will be the surviving entity. Lee Fenton (Gamesys CEO) is
expected to be become CEO of the combined group, with Robeson
Reeves (Gamesys COO) and Jim Ryan (a non-executive director of
Gamesys) expected to join the Bally's Board. George Papanier will
remain a member of the Bally's Board and will be the senior
executive running the retail casino business. Projected FYE
31-Dec-2021 pro forma revenue is about $2.3 billion and EBITDA is
about $610 million.

The upgrade to B1 considers the significant expansion of Bally's
product offering and geographic diversification as a result of the
merger. Bally's will become a full omnichannel gaming provider with
greater growth prospects than just a brick and mortar gaming
company. Also supporting the upgrade is Bally's improved free cash
flow generating capacity due to the relatively low capital
intensity of Gamesys operations, and the positive trends
underpinning the online gaming industry. Bally's improved growth
prospects combined with greater free cash flow generation will
enable the company to reduce leverage during the next 12-18
months.

The upgrade also acknowledges that Bally's projected FYE
31-Dec-2021 leverage on a Moody's adjusted basis is high, at about
6.5x. However, EBITDA growth and significant cash flow generation
will help the company de-lever. Moody's current expectation is that
debt/EBITDA on a Moody's adjusted basis drop below 6x by FYE
31-Dec-2022, and then just below 5x times by FYE 31-Dec-2023. Other
risks related to the merger include the highly competitive nature
of the online gaming industry, integration risk, and the inherent
regulatory uncertainty related to the evolving online gaming
business.

The Ba2 assigned to Bally's amended and extended revolver and new
$1.445 billion term loan anticipate that the company will be
issuing about $2 billion of unsecured debt in the near future as
part of the total merger financing and prior to the merger closing
that will provide a considerable amount of loss absorption and
credit support to the credit facilities. The credit facilities are
secured by a first priority lien on all tangible and intangible
assets (including capital stock of subsidiaries) of Bally's
Corporation and the guarantors, and are unconditionally guaranteed
on a senior secured basis by the borrower and each of its direct
and indirect subsidiaries.

The stable rating outlook is based on Moody's expectation that
there will be a gradual easing of social distancing requirements
that will result in increased visitation relative to the past year,
and in turn, a continued improvement in revenue, EBITDA and
operating margins of Bally's regional casinos and meaningful
leverage reduction over the next 18 months. The stable outlook also
considers that Bally's very good liquidity will enable the company
to manage in the uncertain operating environment that is likely to
persist over the next year.

The SGL-1 Speculative Grade Liquidity rating considers that Bally's
will generate cash flow after all debt service, rent payments, and
capital expenditures in range of $200 million to $300 million in
each of the next two years. Also considered is that the pro forma
unrestricted cash balance will be over $100 million, and the
company will have full availability under the new revolver.
Additionally, there will be no financial maintenance covenants with
the exception of springing lien-based leverage ratio that will only
be triggered if/when the revolver is drawn at a certain level.

Moody's took the following rating actions:

Upgrades:

Issuer: Bally's Corporation

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

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

Corporate Family Rating, Upgraded to B1 from B2

Assignments:

Issuer: Bally's Corporation

$1.445 million 1st Lien Senior Secured Term Loan B due 2028,
Assigned Ba2 (LGD2)

$750 million 1st Lien Senior Secured Revolving Credit Facility due
2026, Assigned Ba2 (LGD2)

Outlook Actions:

Issuer: Bally's Corporation

Outlook, Changed To Stable From Rating Under Review

No action was taken on Bally's existing debt (Ba3 senior secured
and Caa1 senior unsecured) given that these debt items will be
fully repaid as part of the transaction and were based on Bally's
previous Corporate Family Rating of B2 because the upgrade is
dependent on the Gamesys merger. The ratings on Bally's existing
debt will be withdrawn once the transaction closes.

RATINGS RATIONALE

Bally's B1 CFR is supported by the company's positive free cash
flow during periods of normal operation, and improved level of
geographic diversification resulting from acquisitions during the
past two year. Also supporting the rating is the company's
significant cash balance, lack of meaningful maturities until 2024,
and good cost management that is contributing to higher margins
following facility re-openings. The ratings also consider the
benefits of the company's pending merger with Gamesys that will
provide Bally's with an increasingly diversified product offering
and improved free cash flow profile. Key credit concerns include
the highly competitive nature of the online gaming industry,
integration risk, and the inherent regulatory uncertainty related
to the evolving online gaming business.

As proposed, the first lien credit facilities are expected to
provide covenant flexibility that if utilized could negatively
impact creditors. Notable terms include the following: Incremental
first lien debt capacity up to the greater of $650 million and 100%
of trailing four-quarter pro forma consolidated EBITDA, plus
unlimited amounts subject to 4.0x total secured net leverage ratio.
No portion of the incremental may be incurred with an earlier
maturity than the initial term loans. The credit agreement permits
the transfer of assets to unrestricted subsidiaries, up to the
carve-out capacities, subject to "blocker" provisions which
prohibits any subsidiary that owns, leases or operates any portion
of the Twin River Casino, the Tiverton Casino, the Dover Downs
Casino or the Hard Rock Biloxi Casino to be designated as an
unrestricted subsidiary, and Interactive Unrestricted Subsidiaries
will be subject to the asset sale mandatory prepayment provisions
and to the negative covenant limiting the incurrence of debt.
Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees, with no
explicit protective provisions limiting such guarantee releases.
The credit agreement provides some limitations on up-tiering
transactions, including the requirement that 100% of the Lenders
consent to amendments with respect to any express subordination of
the liens or any express payment subordination to other
indebtedness. The above are proposed terms and the final terms of
the credit agreement may be materially different.

The coronavirus outbreak and the government measures put in place
to contain it continue to disrupt economies and credit markets
across sectors and regions. Although an economic recovery is
underway, the recovery is tenuous, and continuation will be closely
tied to containment of the virus. As a result, a degree of
uncertainty around Moody's forecasts remains. Moody's regards the
coronavirus outbreak as a social risk under Moody's ESG framework,
given the substantial implications for public health and safety.
The gaming sector has been one of the sectors most significantly
affected by the shock given its sensitivity to consumer demand and
sentiment. More specifically, Bally's remains vulnerable to a
renewed spread of the outbreak. Bally's also remains exposed to
discretionary consumer spending that leave it vulnerable to shifts
in market sentiment in these unprecedented operating conditions.

Moody's expects the company to maintain somewhat balance financial
policies. Leveage is initially very high in part because of
earnings weakness related to the coronavirus, but the company is
targeting debt-to-EBITDA of 4.0-4.5x (company calculation). This is
down from the company's estimate of 5.3x at closing. The company
favorably does not pay a dividend and Moody's expects the company
will refrain from share repurchases until reaching its target
leverage ratio.

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

An upgrade requires a high degree of confidence that the gaming
sector has returned to a period of long-term stability, the
continuation of a positive free cash flow profile, maintenance of
good liquidity, and debt/EBITDA achieved and sustained below 5.5x.

Ratings could be downgraded if it appears Bally's is not able to
achieve and sustain Moody's adjusted leverage below 6.5x for any
reason such as operating weakness, acquisitions or shareholder
distributions. A deterioration in liquidity could also lead to a
downgrade.

Bally's Corporation (NYSE: BALY) owns and operates casinos in the
US. The company currently owns and manages 12 casinos across 8
states, a horse racetrack and 13 off track betting licenses in
Colorado. Following the completion of pending acquisitions, as well
as the construction of a land-based casino in Centre County, PA,
Bally's will own 15 casinos across 11 US states. Revenue and EBITDA
for the latest 12-months ended Mar. 31, 2021 was US$456 million and
US$101 million, respectively.

Gamesys is the parent company of an online gaming group that
provides entertainment to a global consumer base and is listed on
the London Stock Exchange under the ticker symbol "GYS." Gamesys
holds gambling licenses in the UK, Spain, Malta, Gibraltar and
Sweden. Revenue and EBITDA for the latest 12-months ended Dec. 31,
2020 was GBPGBP728 million and GBPGBP206 million, respectively.

The principal methodology used in these ratings was Gaming
published in June 2021.


BLACK FORGE COFFEE: Seeks to Hire Bernstein-Burkley as Counsel
--------------------------------------------------------------
Black Forge Coffee House, LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to hire
Bernstein-Burkley, P.C. to serve as legal counsel in its Chapter 11
case.

The firm's services include:

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

     (b) preparing legal papers; and

     (c) performing all other legal services for the Debtor, which
may be necessary.

The firm's hourly rates are as follows:

     Art W. Zamosky, Esq.             $345 per hour
     Brian W. Walsh, Esq.             $285 per hour
     David A. Jones, Jr., Esq.        $265 per hour
     Dianne M. Bartony, Esq.          $310 per hour
     Harry W. Greenfield, Esq.        $515 per hour
     James M. Berent, Esq.            $275 per hour
     Jennifer C. Johnson, Esq.        $350 per hour
     Jeffrey C. Toole, Esq.           $400 per hour
     John J. Richardson, Esq.         $385 per hour
     Keila Estevez, Esq.              $250 per hour
     Keri P. Ebeck, Esq.              $315 per hour
     Kerri C. Sturm, Esq.             $385 per hour
     Kirk B. Burkley, Esq.            $495 per hour
     Kit F. Pettit, Esq.              $375 per hour
     Lara S. Martin, Esq.             $295 per hour
     Mark A. Lindsay, Esq.            $375 per hour
     Nicholas D. Krawec, Esq.         $400 per hour
     Ray P. Wendolowski, Esq.         $315 per hour
     Robert S. Bernstein, Esq.        $600 per hour
     Sarah E. Wenrich, Esq.           $250 per hour
     Trisha R. Hudkins, Esq.          $240 per hour
     Salene M. Kraemer, Esq.          $325 per hour
     Christina N. Wirick              $185 per hour
     Jim F. Bluemle                   $150 per hour
     Antoinette Dabaldo               $150 per hour
     Abigail Smith                    $175 per hour
     Deneen N. Mcelveen               $175 per hour
     Lisa M. Young                    $150 per hour

The Debtor paid $1,264 to the law firm as a retainer fee.

Lara Martin, Esq., at Bernstein-Burkley, disclosed in a court
filing that her firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Lara S. Martin, Esq.
     Bernstein-Burkley, P.C.
     707 Grant Street, 2200 Gulf Tower
     Pittsburgh, PA 15219
     Tel.: (412) 456-8102
     Fax: (412) 456-8135
     Email: lmartin@bernsteinlaw.com

                   About Black Forge Coffee House

Black Forge Coffee House, LLC filed a Chapter 11 petition (Bankr.
W.D. Pa. Case No. 21-21594) on July 12, 2021.  At the time of the
filing, the Debtor had between $100,000 and $500,000 in both assets
and liabilities. Ashley Corts, member, signed the petition.
Bernstein-Burkley, P.C. serves as the Debtor's legal counsel.


BLACK FORGE: Seeks to Hire Bernstein-Burkley as Legal Counsel
-------------------------------------------------------------
Black Forge Coffee McKees Rocks, LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to hire
Bernstein-Burkley, P.C. to serve as legal counsel in its Chapter 11
case.

The firm's services include:

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

     (b) preparing legal papers; and

     (c) performing all other legal services for the Debtor, which
may be necessary.

The firm's hourly rates are as follows:

     Art W. Zamosky, Esq.             $345 per hour
     Brian W. Walsh, Esq.             $285 per hour
     David A. Jones, Jr., Esq.        $265 per hour
     Dianne M. Bartony, Esq.          $310 per hour
     Harry W. Greenfield, Esq.        $515 per hour
     James M. Berent, Esq.            $275 per hour
     Jennifer C. Johnson, Esq.        $350 per hour
     Jeffrey C. Toole, Esq.           $400 per hour
     John J. Richardson, Esq.         $385 per hour
     Keila Estevez, Esq.              $250 per hour
     Keri P. Ebeck, Esq.              $315 per hour
     Kerri C. Sturm, Esq.             $385 per hour
     Kirk B. Burkley, Esq.            $495 per hour
     Kit F. Pettit, Esq.              $375 per hour
     Lara S. Martin, Esq.             $295 per hour
     Mark A. Lindsay, Esq.            $375 per hour
     Nicholas D. Krawec, Esq.         $400 per hour
     Ray P. Wendolowski, Esq.         $315 per hour
     Robert S. Bernstein, Esq.        $600 per hour
     Sarah E. Wenrich, Esq.           $250 per hour
     Trisha R. Hudkins, Esq.          $240 per hour
     Salene M. Kraemer, Esq.          $325 per hour
     Christina N. Wirick              $185 per hour
     Jim F. Bluemle                   $150 per hour
     Antoinette Dabaldo               $150 per hour
     Abigail Smith                    $175 per hour
     Deneen N. Mcelveen               $175 per hour
     Lisa M. Young                    $150 per hour

The Debtor paid $1,738 to the law firm as a retainer fee.

Lara Martin, Esq., at Bernstein-Burkley, disclosed in a court
filing that her firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Lara S. Martin, Esq.
     Bernstein-Burkley, P.C.
     707 Grant Street, 2200 Gulf Tower
     Pittsburgh, PA 15219
     Tel.: (412) 456-8102
     Fax: (412) 456-8135
     Email: lmartin@bernsteinlaw.com

               About Black Forge Coffee McKees Rocks

Black Forge Coffee McKees Rocks, LLC filed a Chapter 11 petition
(Bankr. W.D. Pa. Case No. 21-21595) on July 12, 2021. At the time
of the filing, the Debtor disclosed total assets of up to $50,000
and total liabilities of up to $100,000.  Ashley Corts, member,
signed the petition.  Bernstein-Burkley, P.C. serves as the
Debtor's legal counsel.


BLACKWATER TECHNOLOGIES: Court Confirms Plan of Reorganization
--------------------------------------------------------------
Judge Paul Baisier confirmed the Plan of Reorganization of
Blackwater Technologies, Inc.

The Court directed the Debtor to continue to file required
operating reports and pay quarterly fees to the United States
Trustee.

A copy of the confirmation order is available for free at
https://bit.ly/3i9MtoT from PacerMonitor.com

                   About Blackwater Technologies

Carrollton, Ga.-based Blackwater Technologies, Inc., specializes in
fire protection as well as low voltage projects.  It provides fire
alarm installation, maintenance and inspection services.

Blackwater Technologies filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
20-11518) on Nov. 12, 2020. Charles C. Blackwell, chief executive
officer, signed the petition.  At the time of the filing, the
Debtor disclosed $100,000 to $500,000 in assets and $1 million to
$10 million in liabilities.

Judge Paul Baisier oversees the case.

Smith Conerly LLP and MJCO, LLC serve, as the Debtor's legal
counsel and accountant, respectively.


BONNIE TILE: Seeks to Employ Ackerman Rodgers as Accountant
-----------------------------------------------------------
Bonnie Tile II, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to hire Ackerman Rodgers, CPA,
PLLC as its accountant.

The firm's services include:

     (a) preparing tax returns;

     (b) compiling monthly balance sheets and income statements;

     (c) preparing monthly reports required by the U.S. Trustee's
Office, including detailed trial balance sheets, bank account
reconciliations, sorted and coded check registers, and monthly
transaction registers;

     (d) assisting in connection with the Chapter 11
reorganization; and

     (e) providing other accounting and tax services as required.

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

Venita Ackerman, the firm's certified public accountant who will be
providing the services, disclosed in a court filing that she is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Venita Ackerman, CPA
     Ackerman Rodgers, CPA, PLLC
     1665 Palm Beach Lakes Blvd.
     10th Floor, Suite 1004
     West Palm Beach, FL 33401
     Tel.: (561) 293-4120
     Fax: (561) 899-0395

                     About Bonnie Tile II LLC

Bonnie Tile II, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No.  21-16210) on June 25,
2021. In the petition signed by Dennis R. Hughes, managing member,
the Debtor disclosed total assets of up to $50,000 and total
liabilities of up to $1 million.  Judge Erik P. Kimball oversees
the case.  

Craig I. Kelley, Esq., at Kelley, Fulton & Kaplan, P.L. and Venita
Ackerman, CPA, at Ackerman Rodgers, CPA, PLLC are the Debtor's
legal counsel and accountant, respectively.


BOUCHARD TRANSPORTATION: Auction Gets $245M for Assets
------------------------------------------------------
Daniel Gill of Bloomberg Law reports that barge and tug operator
Bouchard Transportation Co. plans to sell a group of its vessels to
Rose Cay GP LLC for $130 million following a bankruptcy auction.
The proposed asset sale covers vessels securing a loan from Wells
Fargo & Co., according to a notice filed Monday in the U.S.
Bankruptcy Court for the Southern District of Texas.  JMB Capital
Partners Lending LLC, the debtor-in-possession lender, had a
winning bid of $115.3 million for a separate group of vessels that
serve as collateral for Bouchard's debtor-in-possession loan.
Judge David R. Jones scheduled an Aug. 2, 2021 hearing to consider
the sales of assets.

                   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.


BOUCHARD TRANSPORTATION: Combined Hearing Reset to August 18
------------------------------------------------------------
The combined hearing to consider approval of the Disclosure
Statement and confirmation of the Joint Chapter 11 Plan of Bouchard
Transportation Co. and its affiliated debtors has been reset for
August 18, 2021, at 2 p.m. (prevailing Central Time), before The
Hon. David R. Jones, United States Bankruptcy Judge, in Room 400 of
the United States Bankruptcy Court, 515 Rusk, Houston, Texas.  The
hearing was previously scheduled for August 5.

Accordingly, the Voting Deadline has been extended to August 11,
2021, at 4 p.m. (prevailing Central Time), which was previously set
for July 30.  

The Plan and Disclosure Statement Objection Deadline previously set
for July 30, 2021, at 4 p.m. (prevailing Central Time) has been
extended to August 11, 2021, at 4 p.m. (prevailing Central Time).

The deadline to file the Voting Report has been extended to August
16, 2021 from the prior August 3 deadline.

A copy of the notice is available for free at
https://bit.ly/3iTsY2Z from Stretto, claims and agent.

Counsel for the Debtors:

   Matthew D. Cavenaugh, Esq.
   Genevieve M. Graham, Esq.
   Jackson Walker LLP
   1401 McKinney Street, Suite 1900
   Houston, TX 77010
   Telephone: (713) 752-4200
   Facsimile: (713) 752-4221
   Email: mcavenaugh@jw.com
          ggraham@jw.com

          - and -

   Ryan Blaine Bennett, P.C.
   Whitney Fogelberg, Esq.
   Kirkland & Ellis LLP
   Kirkland & Ellis International LLP
   300 North LaSalle Street
   Chicago, IL 60654
   Telephone: (312) 862-2000
   Facsimile: (312) 862-2200
   Email: ryan.bennett@kirkland.com
          whitney.fogelberg@kirkland.com

          - and -

   Christine A. Okike, P.C.
   Kirkland & Ellis LLP
   Kirkland & Ellis International LLP
   601 Lexington Avenue
   New York, NY 10022
   Telephone: (212) 446-4800
   Facsimile: (212) 446-4900
   Email: christine.okike@kirkland.com

                   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.


BRAZOS ELECTRIC: Evaluates Bankers for Possible Securitization
--------------------------------------------------------------
Jeremy Hill of Bloomberg News reports that Brazos Electric Power
Cooperative has started evaluating investment bankers to assist
with a potential securitization of costs stemming from the winter
storm that sent it into bankruptcy.

Brazos is looking at eight or nine "specialty" investment bankers
that would potentially help securitize costs related to Winter
Storm Uri, Lou Strubeck of law firm O'Melveny & Myers said in a
hearing Monday, July 26, 2021.

Securitization is one of several bankruptcy exit options that
Brazos and its advisers are considering, according to Mr.
Strubeck.

"This is perhaps the most unique, complex, challenging case that
I've seen," Mr. Strubeck said.

                     Brazos Electric Power Cooperative

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

Brazos Electric filed a voluntary petition for relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 21-30725)
on March 1, 2021. At the time of the filing, the Debtor disclosed
assets of between $1 billion and $10 billion and liabilities of the
same range.

Judge David R. Jones oversees the case.

The Debtor tapped Norton Rose Fulbright US, LLP as bankruptcy
counsel, Foley & Lardner LLP and Eversheds Sutherland US LLP as
special counsel, Collet & Associates LLC as investment banker, and
Berkeley Research Group, LLC as financial advisor. Ted B. Lyon &
Associates, The Gallagher Law Firm, West & Associates LLP, Butch
Boyd Law Firm and Boyd Smith Law Firm, PLLC serve as special
litigation counsel. Stretto is the claims and noticing agent.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtor's case on March 15, 2021. The
committee is represented by the law firms of Porter Hedges, LLP and
Kramer, Levin, Naftalis & Frankel, LLP.  FTI Consulting, Inc. and
Lazard Freres & Co. LLC serve as the committee's financial advisor
and investment banker, respectively.


BY CHLOE: Rebranded as 'Beatnic' After Bankruptcy Case Dismissal
----------------------------------------------------------------
Rechel King of Fortune reports that the plant-based restaurant
chain By Chloe will now be known as "Beatnic," in a nod to the
original location's roots in New York City's Greenwich Village
neighborhood.

"We wanted a name that was reflective of the brand's personality,"
Beatnic president Catey Mark Meyers tells Fortune exclusively.
"Beatnic captures our vibrant, creative, and inclusive
values—which were at the core of the Beatnik movement of the
1950s and 1960s—while also giving a nice nod to our original
Bleecker Street location in the Village."

Designed by creative and brand design agency Pearlfisher, a new
logo features letters with a slight retro flair. The transition to
new packaging, signage, and digital platforms will begin this
month, with plans to be completed by September 2021.

The brand refresh will also include some edits to the menu, but
longtime fans of By Chloe can expect some things to remain the
same. "We've brought back a few re-imagined fan favorites,
including our Peanut Crunch salad, which was the single most
requested item. Years after it was delisted, we were still getting
a handful of requests each week to bring it back," Meyers says.
"We've also introduced a few new items; one of my favorites is our
Toasted S'mores Bar which is a really fun twist on the classic
summer dessert. We have a really tasty Chicky sandwich in the
works, which will hit menus towards the end of the summer."

The announcement follows some legal woes for the company,
originally cofounded in 2015 by Samantha Wasser and namesake chef
Chloe Coscarelli. Coscarelli, who also became well-known as a
cookbook author and a contestant on Food Network's Cupcake Wars,
split from the company in 2017, which evolved a legal battle
spanning several years.

And like all hospitality brands during the pandemic, By Chloe
suffered from shutdown orders and reduced service to takeout and
delivery in 2020. As a result, the company declared Chapter 11
bankruptcy in December 2020, announcing plans to sell itself as
well as a leadership change involving the resignation of then-CEO
Jimmy Haber.

Prior to the pandemic, By Chloe had 14 locations, but has since
been reduced to 10 across New York, Massachusetts, and Rhode
Island. The flagship location in Greenwich Village will re-open in
September 2021.

"While in bankruptcy, we renegotiated some key agreements, most
notably our leases, which allowed us to arrive at more tenable
terms," explains Meyers, who replaced Haber in the interim and is
now permanently company president. "We went through a sales
process, and ultimately were bought by a consortium of some of our
previous equity owners through an asset purchase in early May 2021.
The bankruptcy case was dismissed with the transaction."

Beatnic has since enlisted Saudi investment holding fund Sisban
Food and New York-based venture capital firm Kitchen Fund as lead
investors.

"We have ambitious growth plans; we did not go through a
restructuring and rebranding process to maintain our current
footprint," Meyers says. "As soon as we complete the rebranding, we
will reinitiate our expansion plans. We’ll look to fill in key
gaps in New York City while also bringing the concept to another
domestic city to prove its viability outside of our primary
market."

                           About By Chloe

By Chloe is a fast-casual vegan restaurant chain based in New York
City.

BC Hospitality Group Inc. and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-13103) on Dec. 14,
2020. BC Hospitality was estimated to have assets of $10 million to
$50 million and liabilities of $1 million to $10 million.

YOUNG CONAWAY STARGATT & TAYLOR, LLP, is the Debtors' counsel.
ANKURA CONSULTING GROUP, LLC, is the financial advisor.





CASABLANCA GLOBAL: S&P Alters Outlook to Pos., Affirms 'CCC+' ICR
-----------------------------------------------------------------
S&P Global Ratings revised its outlook on Casablanca Global
Intermediate Holdings L.P. (ALG) to positive from negative, which
reflects adequate liquidity and its expectation for an improved
recovery path for cash flow generation that could result in
operating cash flow to debt in the mid-high single digits in 2022.
S&P also affirmed its 'CCC+' issuer credit rating and 'CCC+' issue
level rating.

S&P said, "The positive outlook reflects anticipated adequate
liquidity, our expectation for a significant improvement in travel
volumes, and our updated forecast for operating cash flow to debt
in the mid-high single digits in 2022, which could enable ALG to
sustain its capital structure over the long term.

"The outlook revision reflects a substantial upward base case
revision that incorporates an expectation that ALG could generate
better cash flow in 2021 and 2022 than previously anticipated.
Loosening pandemic travel restrictions, elevated savings that have
been bolstered by fiscal stimulus, and pent-up demand appear to be
driving a recovery in the volume of leisure travel to Mexico and
the Caribbean. Additionally, increased regional hotel occupancy and
international airport arrivals to ALG's key markets support the
upward revision of our base case forecast.

"We now expect that ALG's revenues in 2021 could improve to around
80% of 2019 levels, before potentially improving in 2022 to around
90%-95% of 2019. Additionally, substantial cost reductions that
have included headcount reductions and general and other expense
reductions benefit our cash flow forecast for this year, and could
improve margin if they prove to be sustainable. Under our revised
set of assumptions, CFO to debt would be very strong in 2021
(largely due to substantial working capital inflows), and around
the mid-high single digit range in 2022.

"We expect ALG's liquidity to be adequate over the next 12 months.
As of March 31, 2021, ALG had $399 million of cash on hand, which
was materially bolstered by borrowings under the company's
revolving credit facility and sponsor notes issued during 2020 to
fund the company's substantial 2020 operating cash burn and a
significant return of customer deposits. During the first quarter
2021, ALG reported $192 million of positive cash flow from
operations largely due to substantial customer deposits as travel
volumes began to recover. We believe the positive trend in travel
volumes and operating cash flow at ALG accelerated in the second
quarter 2021 and could remain good during the second half of the
year. As a result, we have assumed in our base case that ALG could
generate around $300 million of cash flow from operations in 2021,
largely due to the positive working capital impact of customer
deposits net of supplier payments, and an improvement in operating
profitability. In addition, we understand the booking window at ALG
appears to be lengthening and bookings so far for early 2022 are
robust enough for us to assume more normal travel patterns to the
company's markets in the seasonally important first quarter of
2022.

"If a recovery in travel to Mexico and the Caribbean continues as
we currently anticipate, ALG could use excess cash balances to
repay debt. As of March 31, 2021, ALG had $921 million outstanding
on its senior secured term loan due 2024, $175 million draw on its
revolving credit facility due 2023, and $279.1 million of senior
secured notes outstanding (which carry an 18% interest rate that is
payable in kind) due 2025. If ALG's full-year cash flow generation
is as strong as currently expected, it could use its excess cash
balances to repay debt, which could increase the sustainability of
its capital structure over the long term.

"In assessing ALG's consolidated financial risk, we use our measure
of cash flow from operations-to-debt ratio as our primary measure
because we believe the company's CFO best represents the underlying
economics of its business. This is because of the way deferral
accounting in the company's Unlimited Vacation Club (UVC)
subsidiary affects its measure of adjusted EBITDA. UVC is a
vacation club through which members can book vacations at AMResorts
properties for a 25% discount, among other benefits. The cost of
the membership depends on the tier and can range from $3,000 to
$100,000. On average, members pay about half of the membership
price upfront and the remainder in installments over the following
three to five years. Despite receiving most of the cash for each
contract sale over a three to five-year period, UVC is required to
recognize the revenue from the sale over a period of up to 50 years
because of extension options in some contracts and the associated
generally accepted accounting principles (GAAP) rules. The company
also defers a lesser, but still substantial, portion of the costs.
Therefore, UVC generates negative EBITDA in current periods despite
having positive CFO. This accrual accounting causes the company to
defer a significant amount of EBITDA and we believe there is some
uncertainty regarding the recognition of its deferred EBITDA in
future periods because members can cancel their membership and stop
paying on the installment loan at any time. Because of this, we
believe ALG's CFO best represents the underlying economics of its
business.

"We believe ALG is highly exposed to potential terror attacks,
geopolitical unrest, health scares, and other events that can have
a temporary, but significant, negative affect on travel demand and
its financial performance. The company's limited geographic
diversity makes it vulnerable to potential negative events in the
areas it operates in, which, in recent years, have included health
scares and crime concerns. The company generates the majority of
its revenue from its operations in Mexico and the Caribbean. This
concentration leaves ALG more exposed to regional risks than its
higher-rated peers. Although there is still a high level of
uncertainty regarding the duration and impact of the coronavirus
pandemic, an extended disruption of leisure travel coupled with an
economic slowdown would likely severely depress travel volumes to
ALG's all-inclusive resorts. Furthermore, a global event similar in
scope and longevity to the Sept. 11, 2001, terror attacks would
likely place downward pressure on our rating, particularly if it
occurred amid an otherwise weak economy.

"Our assessment of the company's business reflects the high level
of competition for the discretionary leisure spending of its
customer base (mainly U.S. and Canadian consumers) and the
increasing level of competition in the all-inclusive space. Partly
mitigating these risk factors are ALG's growing portfolio of
management contracts in its AMResorts resort management business,
its focus on the affluent North American travel market, and its
good position in--and the increasing popularity of--the
all-inclusive resort vacation market.

"We believe UVC allows ALG to compete for consumers that might
otherwise purchase a timeshare or other vacation product rather
than return to the company's AMResorts network. However, this
big-ticket, discretionary product faces similar sales execution
risks as timeshares. We also believe the UVC has a small
addressable market compared with that for timeshares and view it as
having a comparably limited track record of consumer satisfaction.
We understand the company's retention rates for the UVC are good
and have improved since its inception, although the club has yet to
be tested by an economic recession."

Environmental, social, and governance (ESG) credit factors for this
credit rating change:

-- Health and safety

S&P said, "The positive outlook reflects adequate anticipated
liquidity, our expectation for a significant improvement in travel
volumes, and our updated forecast for operating cash flow to debt
in the mid-high single digits in 2022, which could enable ALG to
sustain its capital structure over the long term.

"We would consider raising our rating on ALG if we become confident
the company will sustain CFO-to-debt above the mid-single digit
percent area. We would also need to believe a normalization in the
global leisure travel market does not materially hurt the recovery
in travel volumes to Mexico and the Caribbean.

"We could lower our rating on ALG if we believed that a slowdown or
reversal in the recent Mexican and Caribbean leisure travel
recovery could threaten ALG's liquidity or its ability to sustain
its capital structure and raises the risks of a distressed
exchange, restructuring or conventional default."



CINCINNATI TERRACE: Taps David Goldwasser of FIA Capital as CRO
----------------------------------------------------------------
Cincinnati Terrace Associates, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire David
Goldwasser of FIA Capital Partners, LLC as chief restructuring
officer.

The firm's services include:

     (a) assisting with the administration of the Debtor's Chapter
11 case;

     (b) overseeing the preparation of all Chapter 11 reporting,
including monthly operating reports and budgets;

     (c) pursuing negotiations with the Debtor's lender and the
lender's representative to restructure the mortgage, or, seeking to
refinance the mortgage debt through a third party lender; and

     (d) assisting with the formulation of a plan of reorganization
or other exit strategy.

The firm will be paid a monthly fee of $5,000 and the Debtor paid
$25,000 to the firm as a retainer fee.

David Goldwasser, a principal at FIA Capital Partners, 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 Goldwasser
     FIA Capital Partners, LLC
     115 Broadway, Suite 302
     New York, NY 10006
     Tel.: 561-417-3725
     Fax: 866-353-6360

                     About Cincinnati Terrace

Cincinnati Terrace Associates, LLC filed a Chapter 11 petition
(Bankr. E.D. N.Y. Case No. 21-41548) on June 9, 2021. At the time
of the filing, the Debtor had between $10 million and $50 million
in both assets and liabilities. David Goldwasser, manager and
restructuring officer of FIA Capital Partners, signed the
petition.
Judge Elizabeth S. Stong oversees the case.  Kevin J. Nash, Esq.,
at Goldberg Weprin Finkel Goldstein, LLP, serves as the Debtor's
legal counsel.


CINCINNATI TERRACE: Taps Goldberg Weprin as Bankruptcy Counsel
--------------------------------------------------------------
Cincinnati Terrace Associates, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire
Goldberg Weprin Finkel Goldstein, LLP to serve as legal counsel in
its Chapter 11 case.

The firm's services include:

     (a) providing the Debtor with all necessary representation in
connection with the Chapter 11 case, as well as the Debtor's
responsibilities under the Bankruptcy Code;

    (b) representing the Debtor in all proceedings before the court
and the Office of the U.S. Trustee;

    (c) reviewing, preparing and filing all necessary legal papers
and adversary proceedings; and

    (d) rendering all other legal services required by the Debtor
toward the goal of obtaining a fair and proper resolution of the
amount owed to its lender and confirmation of a plan of
reorganization, likely through a sale of it property or refinancing
of the mortgage debt.

The firm's hourly rates are as follows:

     Partner       $575 per hour
     Associate     $275 - $425 per hour

The Debtor paid $20,000 to the law firm as a retainer fee.

Kevin Nash, Esq., the firm's attorney who will be providing the
services, 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:

     Kevin J. Nash, Esq.
     Goldberg Weprin Finkel Goldstein LLP
     1501 Broadway, New York, N.Y. 10036
     Tel.: (212) 301-6944
     Email: knash@gwfglaw.com

                      About Cincinnati Terrace

Cincinnati Terrace Associates, LLC filed a Chapter 11 petition
(Bankr. E.D. N.Y. Case No. 21-41548) on June 9, 2021.  At the time
of the filing, the Debtor had between $10 million and $50 million
in both assets and liabilities. David Goldwasser, manager and
restructuring officer of FIA Capital Partners, signed the petition.

Judge Elizabeth S. Stong oversees the case.  Kevin J. Nash, Esq.,
at Goldberg Weprin Finkel Goldstein, LLP, serves as the Debtor's
legal counsel.


CLEARPOINT CHEMICALS: Unsecureds Owed $18M to Get $400K in Plan
---------------------------------------------------------------
Clearpoint Chemicals, LLC, submitted a Second Amended Disclosure
Statement accompanying Second Amended Plan of Reorganization dated
July 22, 2021.

On June 15, 2021, the Court entered a final order increasing the
authorized amount of the DIP Financing to $755,000.  The DIP
lender, Clearpoint Industries, LLC, is wholly owned by the two
principal owners of the Debtor, John Harlan Foster and Todd
Randolph Rader. Clearpoint Industries, LLC serves as a conduit for
funds loaned directly to it by Clearpoint Polymers, LLC (also owned
by Foster and Rader) and by Foster and Rader personally. On or
about June 18, 2021, Highground Holdings, LLC (the "Plan Sponsor")
advanced $100,000 to Clearpoint Industries, LLC in exchange for an
unsecured promissory note, in order to fund the DIP Financing. The
Debtor has drawn approximately $654,799.52 under this facility.

The Debtor proposes to pay $2,000,000.00 on account of the
ServisFirst Prepetition Claims on the Effective Date. Also on the
Effective Date, the Reorganized Debtor will deliver to ServisFirst
Bank a promissory note for the remainder of the ServisFirst debt
($1,317,775.30 as of July 8, 2021) (the "SFB Balance") The SFB
Balance will be paid over five years in equal monthly installments
based on a 5 year amortization schedule and interest at a rate of
WSJ Prime, floating plus 2%, with a floor of 5.25% and cap of 8%.

As to each of ServisFirst Bank, 22nd State Bank, and SmartBank, and
subject to the respective provisions, on or before the Effective
Date, the Debtor will enter into new loan documents with each
secured lender on substantially the same terms as prepetition loan
documents including the same collateral, priority and guarantors.

The Debtor estimates that the total amount of its general non
priority unsecured claims is $17,858,515.43. In the event Holders
of Class 6 Claims vote to accept the Plan, the Debtor proposes to
pay Holders of Allowed Unsecured Claims on the Distribution Date
their pro-rata share of $400,000. In the event Holders of Class 6
Claims vote to reject the Plan, Holders of Allowed Unsecured Claims
will not receive a distribution under the Plan.

The amount the Debtor proposes to pay to unsecured creditors upon
acceptance of the Plan ($400,000) is in excess of the amounts
unsecured creditors would receive under the Liquidation Analysis,
which is $0. Similarly, the amount the Debtor proposes to pay to
unsecured creditors upon rejection of the Plan ($0) is equal to the
amount unsecured creditors would receive under the Liquidation
Analysis, which is $0.

As of the Effective Date, the Equity Interests in the Debtor will
be cancelled, and no distributions under the Plan will be made on
account of the Equity Interests.

Highground Holdings LLC is the Plan Sponsor. The Plan Sponsor is a
merchant bank and strategic advisor focused on private companies
following an opportunistic approach in high-growth, disruptive
technologies, special situations and undervalued cash generators,
across various sectors including the oil, gas and chemical and
other emerging technologies spaces. The Plan Sponsor was co founded
by Gentry Beach and Robert Vollero in 2017. On June 29, 2021, the
Plan Sponsor formed CHEMCO Innovations Holdco, LLC (the "New Equity
Holder") to serve as the vehicle for the Plan transaction. The New
Equity Holder will be capitalized through investments from the Plan
Sponsor, indirectly through its affiliates, and other outside
investors including Todd Rader in a minority, non-controlling
capacity. Harlan Foster will not be an investor and will not have
any role with the Reorganized Debtor or the Plan Sponsor.

The Plan will be funded by a $6,000,000 contribution (the "Plan
Sponsor Contribution") made by the New Equity Holder.

On or before the Effective Date, the Plan Sponsor Contribution
shall be paid by the New Equity Holder. On the Effective Date, the
Reorganized Debtor shall issue and distribute, in accordance with
the provisions of the Plan, the Reorganized Debtor Equity to the
New Equity Holder.

A full-text copy of the Second Amended Disclosure Statement dated
July 22, 2021, is available at https://bit.ly/3xaUsX9 from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Lawrence B. Voit
     Alexandra K. Garrett
     Matthew C. Butler
     SILVER, VOIT & GARRETT  
     Attorneys at Law, P.C.
     4317-A Midmost Drive
     Mobile AL 36609-5589
     Telephone: 251-343-0800

                   About Clearpoint Chemicals

Clearpoint Chemicals, LLC, operates in the specialty chemical
services industry.  It develops customer-specific chemical
solutions, provides in-house last mile logistics, and delivers
on-site application and management, and continued communication and
project assessment services.

Clearpoint Chemicals sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Ala. Case No. 20-12274) on Sept. 29,
2020.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.

Judge Jerry C. Oldshue oversees the case.  

The Debtor tapped Silver, Volt & Garrett as its bankruptcy counsel.
R. Tate Young, Esq., an attorney practicing in Houston, and Michael
W. Huddleston, Esq., of Munsch, Hardt, Kopf & Harr, P.C. serve as
the Debtor's special counsel.


COMMUNITY HEALTH: Reports Second Quarter 2021 Results
-----------------------------------------------------
Community Health Systems, Inc. announced financial and operating
results for the three and six months ended June 30, 2021.

Net operating revenues for the three months ended June 30, 2021,
totaled $3.007 billion, a 19.4 percent increase compared with
$2.519 billion for the same period in 2020.

Net income attributable to Community Health Systems, Inc. common
stockholders was $6 million, or $0.04 per share (diluted), for the
three months ended June 30, 2021, compared with $70 million, or
$0.61 per share (diluted), for the same period in 2020.  Excluding
the adjusting items, net income attributable to Community Health
Systems, Inc. common stockholders was $0.23 per share (diluted) for
the three months ended June 30, 2021, compared to $0.85 per share
(diluted) for the same period in 2020.  Payments received by the
Company through the Public Health and Social Services Emergency
Fund and state and local pandemic relief programs had a positive
impact on net income attributable to Community Health Systems, Inc.
common stockholders (both on a consolidated and adjusted basis) of
approximately $333 million, or $2.89 on a per share (diluted)
basis, for the three months ended June 30, 2020.  Weighted-average
shares outstanding (diluted) were 131 million and 115 million for
the three months ended June 30, 2021 and 2020, respectively.

Adjusted EBITDA for the three months ended June 30, 2021, was $453
million compared with $454 million for the same period in 2020.
Payments received by the Company through the PHSSEF and state and
local pandemic relief programs had a positive impact on Adjusted
EBITDA of approximately $1 million and $448 million for the three
months ended June 30, 2021 and 2020, respectively.

The consolidated operating results for the three months ended June
30, 2021, reflect a 4.8 percent increase in admissions and a 15.7
percent increase in adjusted admissions, compared with the same
period in 2020.  On a same-store basis, admissions increased 17.0
percent and adjusted admissions increased 28.5 percent for the
three months ended June 30, 2021, compared with the same period in
2020. On a same-store basis, net operating revenues increased 30.2
percent for the three months ended June 30, 2021, compared with the
same period in 2020, primarily reflecting recovery from COVID-19
pandemic-induced reductions in volume in 2020.

Net operating revenues for the six months ended June 30, 2021,
totaled $6.020 billion, an 8.6 percent increase compared with
$5.544 billion for the same period in 2020.

Net loss attributable to Community Health Systems, Inc. common
stockholders was $(58) million, or $(0.46) per share (diluted), for
the six months ended June 30, 2021, compared with net income of $87
million, or $0.76 per share (diluted), for the same period in 2020.
Excluding the adjusting items, net income attributable to Community
Health Systems, Inc. common stockholders was $0.60 per share
(diluted) for the six months ended June 30, 2021, compared to net
loss of $(0.73) per share (diluted) for the same period in 2020.
Payments received by the Company through the PHSSEF and state and
local pandemic relief programs, as more specifically described
below, had a positive impact on net income attributable to
Community Health Systems, Inc. common stockholders (both on a
consolidated and adjusted basis) of approximately $63 million, or
$0.50 on a per share (diluted) basis, and approximately $333
million, or $2.90 on a per share (diluted) basis, for the six
months ended June 30, 2021 and 2020, respectively.
Weighted-average shares outstanding (diluted) were 126 million and
115 million for the six months ended June 30, 2021 and 2020,
respectively.

Adjusted EBITDA for the six months ended June 30, 2021, was $948
million compared with $763 million for the same period in 2020.
Payments received by the Company through the PHSSEF and state and
local pandemic relief programs had a positive impact on Adjusted
EBITDA of approximately $83 million and $448 million for the six
months ended June 30, 2021 and 2020, respectively.

The consolidated operating results for the six months ended June
30, 2021, reflect a 5.5 percent decrease in admissions and a 2.0
percent decrease in adjusted admissions, compared with the same
period in 2020.  On a same-store basis, admissions increased 5.1
percent and adjusted admissions increased 8.7 percent for the six
months ended June 30, 2021, compared with the same period in 2020.
On a same-store basis, net operating revenues increased 19.2
percent for the six months ended June 30, 2021, compared with the
same period in 2020, reflecting recovery from COVID-19
pandemic-induced reductions in volume in 2020.

Commenting on the results, Tim L. Hingtgen, chief executive officer
of Community Health Systems, Inc., said, "As COVID-19 cases
declined during the second quarter, we experienced a solid rebound
of non-COVID-19 patient volume.  Our strong results in the period
were driven by ongoing initiatives to attract new patients, along
with efforts to re-engage and retain patients who have previously
utilized our healthcare systems.  As we continue to position the
Company for long-term success, we believe our recent capital
investments and other strategic programs are supporting growth,
while cost management and margin improvement programs are also
adding value.  Looking forward to the second half of the year, we
remain focused on supporting our clinicians and caregivers and
providing high-quality health services for the patients and
communities we serve."

Financing Transaction:

The Company recognized a net, pre-tax loss from early
extinguishment of debt of approximately $8 million for the three
months ended
June 30, 2021, primarily as a result of completing a private
offering on May 19, 2021 of $1.440 billion aggregate principal
amount of 61⁄8% Junior-Priority Secured Notes due 2030.  The
proceeds of this offering, together with cash on hand, were used to
redeem the remaining principal amount of the 81⁄8%
Junior-Priority Secured Notes due 2024 of approximately $1.348
billion and to pay related fees and expenses.

COVID - 19 Pandemic:

COVID-19, a disease caused by a novel strain of coronavirus,
materially affected the Company's results of operations during
2020, and continued to affect the Company's results of operations
during the three and six months ended June 30, 2021.  Federal and
state governments have passed legislation, promulgated regulations
and taken other administrative actions intended to assist
healthcare providers in providing care to COVID-19 and other
patients during the public health emergency.  Sources of relief
include the Coronavirus Aid, Relief and Economic Security Act (the
"CARES Act"), which was enacted on March 27, 2020, the Paycheck
Protection Program and Health Care Enhancement Act (the "PPPHCE
Act"), which was enacted on April 24, 2020, the Consolidated
Appropriations Act, 2021 (the "CAA"), which was enacted on Dec. 27,
2020, and the American Rescue Plan Act of 2021 (the "ARPA"), which
was enacted on March 11, 2021.  Together, these stimulus laws
authorize over $178 billion in funding to be distributed to
hospitals and other healthcare providers through the PHSSEF.  In
addition to the relief funding, the CARES Act provided for an
expansion of the Medicare Accelerated and Advance Payment Program.
Various state and local programs also exist to provide relief,
either independently or through distribution of monies received via
the CARES Act and other enacted federal legislation.  The Company
has been a beneficiary of these stimulus monies.

Through June 30, 2021, the Company received approximately $712
million in payments through the PHSSEF and various state and local
programs on a cumulative basis since their enactment of which
approximately $705 million was received during the year ended
Dec. 31, 2020, and the balance of which was received during the six
months ended June 30, 2021.  PHSSEF payments are intended to
compensate healthcare providers for lost revenues and incremental
expenses incurred in response to the COVID-19 pandemic and are not
required to be repaid provided that recipients attest to and comply
with certain terms and conditions, including limitations on balance
billing, not using funds received from the PHSSEF to reimburse
eligible expenses or lost revenues that other sources have or may
be obligated to reimburse, and audit and reporting requirements.

The Company recognized approximately $1 million and $83 million of
the PHSSEF and various state and local program payments eligible to
be claimed as a reduction in operating costs and expenses during
the three and six months ended June 30, 2021, respectively.  During
the six months ended June 30, 2021, the Company's estimate of the
amount of payments received through the PHSSEF or state and local
programs for which the Company is reasonably assured of meeting the
underlying terms and conditions was updated based on, among other
things, expenses incurred in the period that are attributable to
the coronavirus, the Company's results of operations during such
period as compared to the Company's 2020 budget for the same period
in the prior year and the allocation of targeted distribution
payments to various subsidiaries.  Amounts received through the
PHSSEF or state and local programs that have not been recognized as
a reduction to operating costs and expenses and otherwise have not
been refunded to the U.S. Department of Health and Human Services
("HHS") or state and local agencies as of June 30, 2021, are
reflected within accrued liabilities-other in the condensed
consolidated balance sheet.  Such unrecognized amounts may either
be returned to HHS or may be recognized as a reduction in operating
costs and expenses in future periods if the underlying conditions
for recognition are reasonably assured of having been met.

HHS' interpretation of the underlying terms and conditions of such
PHSSEF payments, including auditing and reporting requirements,
continues to evolve.  In June 2021, HHS issued guidance that set
forth deadlines for using and reporting on the use of PHSSEF funds,
depending on the dates on which the funds were received.
Additional guidance or new and amended interpretations of existing
guidance on the terms and conditions of such PHSSEF payments may
result in the Company's inability to recognize certain PHSSEF
payments, changes in the estimate of amounts recognized, or the
derecognition of amounts previously recognized, which (in any such
case) may be material.

Medicare accelerated payments of approximately $1.2 billion were
received during April 2020.  No additional Medicare accelerated
payments have been received by the Company since such time,
including during the three and six months ended June 30, 2021.
Payments under the Medicare Accelerated and Advance Payment Program
are advances that must be repaid.  Providers are required to repay
accelerated payments beginning one year after the payment was
issued.  After such one-year period, Medicare payments owed to
providers will be recouped according to the repayment terms.  The
repayment terms specify that for the first 11 months after
repayment begins, repayment will occur through an automatic
recoupment of 25% of Medicare payments otherwise owed to the
provider during such time.  At the end of the eleven-month period,
recoupment will increase to 50% for six months.  At the end of the
six months (or 29 months from the receipt of the initial
accelerated payment), Medicare will issue a letter for full
repayment of any remaining balance, as applicable.  In such event,
if payment is not received within 30 days, interest will accrue at
the rate of 4% per annum from the date the letter was issued and
will be assessed for each full 30-day period that the balance
remains unpaid.

In April 2021, Centers for Medicare & Medicaid Services ("CMS")
began recouping Medicare accelerated payments previously received
by the Company.  As of June 30, 2021, approximately $116 million
has been recouped from the Company by CMS subject to the
aforementioned payment terms.  Additionally, approximately $18
million and $77 million of amounts previously received were repaid
by the Company to CMS or assumed by buyers related to hospitals the
Company divested during the six months ended June 30, 2021, and
year ended December 31, 2020, respectively.  As of June 30, 2021,
approximately $680 million of Medicare accelerated payments are
reflected within accrued liabilities-other in the condensed
consolidated balance sheet while the remaining approximately $267
million are included within other long-term liabilities.

The PHSSEF payments received to date as noted above and payments
which the Company may receive in the future under the CARES Act and
other stimulus legislation have been and may continue to be
beneficial in partially mitigating the impact of the COVID-19
pandemic on the Company's results of operations and financial
position.  Additionally, the federal government may consider
additional stimulus and relief efforts, but the Company is unable
to predict whether additional stimulus measures will be enacted or
their impact, if any.  The Company is unable to assess the extent
to which potential ongoing negative impacts on the Company arising
from the COVID-19 pandemic will be offset by benefits which the
Company may recognize or receive in the future under the CARES Act
and other enacted stimulus legislation or any future stimulus
measures.

Divestitures and hospital closures:

The Company completed the divestiture of three hospitals on Jan. 1,
2021, (in respect of which the Company received proceeds at a
preliminary closing on Dec. 31, 2020), one hospital on Feb. 1,
2021, and one hospital on April 1, 2021.  While the Company's
formal portfolio rationalization program concluded as of Dec. 31,
2020 (inclusive of definitive agreements entered into in 2020 for
the sales of hospitals which have been completed in 2021), the
Company continues to receive interest from potential acquirers for
certain of its hospitals, and may, from time to time, consider
selling additional hospitals or, if applicable, its unconsolidated
equity interests in hospitals if the Company considers any such
dispositions to be in its best interests.

A full-text copy of the press release is available for free at:

https://www.sec.gov/Archives/edgar/data/1108109/000119312521227432/d203825dex991.htm

                About Community Health Systems Inc.

Community Health Systems, Inc. -- http://www.chs.net-- is a
publicly traded hospital company and an operator of general acute
care hospitals in communities across the country.  The Company,
through its subsidiaries, owns, leases or operates 84 affiliated
hospitals in 16 states with an aggregate of approximately 13,000
licensed beds.  The Company's headquarters are located in Franklin,
Tennessee, a suburb south of Nashville.

As of March 31, 2021, the Company had $15.59 billion in total
assets, $16.70 billion in total liabilities, $481 million in
redeemable noncontrolling interests in equity of consolidated
subsidiaries, and a total stockholders' deficit of $1.59 billion.

                             *   *   *

As reported by the TCR on Dec. 29, 2020, S&P Global Ratings raised
its issuer credit rating on Community Health Systems Inc. to 'CCC+'
from 'SD' (selective default) and raised its rating on thecompany's
unsecured debt due 2028 to 'CCC-' from 'D'.  S&P said the company's
recent financial transactions have improved its maturity profile
and lowered interest costs.

In November 2020, Fitch Ratings affirmed the Long-Term Issuer
Default Ratings (IDR) of Community Health Systems, Inc. (CHS) and
subsidiary CHS/Community Health Systems, Inc. at 'CCC'.


CONCISE INC: Sept. 29 Plan & Disclosure Hearing Set
---------------------------------------------------
On July 19, 2021, debtor Concise, Inc. filed with the U.S.
Bankruptcy Court for the District of Columbia a Second Amended Plan
and Third Amended Disclosure Statement.

On July 26, 2021, Judge Elizabeth L. Gunn conditionally approved
the Third Amended Disclosure Statement and ordered that:

     * September 29, 2021 at 11:00 AM is the hearing on
confirmation of the second amended plan of reorganization and final
approval of the Third Amended Disclosure Statement by
videoconference.

     * September 22, 2021 is fixed as the last day to file and
serve objections to the Third Amended Disclosure Statement.

     * September 22, 2021 is fixed as the last day for filing and
serving written objections to confirmation of the Amended Plan.

     * September 22, 2021 is the deadline for submitting written
acceptances or rejections of the Debtor's plan of reorganization.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/3xf32nA 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
     Tel: 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.


CRESTWOOD EQUITY: Moody's Ups CFR to Ba2 & Alters Outlook to Stable
-------------------------------------------------------------------
Moody's Investors Service upgraded Crestwood Equity Partners LP's
(Crestwood) Corporate Family Rating to Ba2 from Ba3, its
Probability of Default Rating to Ba2-PD from Ba3-PD and its
preferred units rating to B1 from B2. Crestwood's Speculative Grade
Liquidity rating was upgraded to SGL-2 from SGL-3. Crestwood
Midstream Partners LP's (Midstream) senior unsecured notes rating
was upgraded to Ba3 from B1. The ratings outlook for both Crestwood
and Midstream was changed to stable from ratings under review.

This action concludes the ratings review initiated on June 7, 2021
when Crestwood and its 50% joint venture partner, Consolidated
Edison, Inc. (ConEd, Baa2 stable), agreed to sell their interests
in Stagecoach, to a subsidiary of Kinder Morgan, Inc. (KMI, Baa2
stable) for $1.225 billion. The asset sale closed earlier this
month and the proceeds were used to repay revolver borrowings.

Upgrades:

Issuer: Crestwood Equity Partners LP

Corporate Family Rating, Upgraded to Ba2 from Ba3

Probability of Default Rating, Upgraded to Ba2-PD from Ba3-PD

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

Pref. Stock Non-cumulative Preferred Stock, Upgraded to B1 (LGD6)
from B2 (LGD6)

Issuer: Crestwood Midstream Partners LP

Senior Unsecured Regular Bond/Debenture, Upgraded to Ba3 (LGD4)
from B1 (LGD4)

Outlook Actions:

Issuer: Crestwood Equity Partners LP

Outlook, Changed To Stable From Rating Under Review

Issuer: Crestwood Midstream Partners LP

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

Crestwood's ratings upgrade reflects the company's significant
improvement in its financial leverage achieved primarily through
debt reduction and the prospect of further improvement in its
credit metrics through 2021 and 2022 through cash flow improvement
and free cash flow generation. The upgrade also reflects Moody's
expectation that Crestwood will sustain the lower leverage and
higher distribution coverage in line with its stated targets.

Crestwood's Ba2 CFR reflects its basin diversification, good
distribution coverage, offset by its meaningful volume risk
exposure. The rating also reflects the company's relatively
moderate leverage relative to peers and its ability to generate
significant free cash flow that will allow the company to further
reduce its debt. Crestwood also benefits from strong distribution
coverage, which improved following the retirement of the 11.5
million common units it acquired from Crestwood Holdings (ratings
withdrawn), with coverage likely to exceed 2x in 2021. The company
will benefit from enhancements to its governance, such as
transitioning to an elected board of directors, and increased
public float of its units. Crestwood is constrained by its
relatively small scale, the inherent volumetric risks in its
gathering and processing business, customer counterparty risk and
still significant concentration of its operations in the Bakken
shale. Moody's expects Crestwood to prioritize using free cash flow
to reduce debt and that unit repurchase activity will be measured
and subject to its targets for financial leverage.

Midstream's senior notes ($1.8 billion in total) are unsecured,
effectively subordinating their claim on the company's assets to
its $1.25 billion senior secured revolving credit facility due in
October 2023. The substantial amount of secured debt in the capital
structure results in the notes being rated Ba3, one notch below the
Ba2 CFR. Crestwood's preferred units ($612 million outstanding at
June 30, 2021) are structurally subordinated to Midstream's debt
obligations and are rated B1.

Crestwood's SGL-2 rating reflects Moody's expectation that the
company will have good liquidity through 2022. As of June 30, 2021,
Crestwood had $849 million drawn under its $1.25 billion revolving
credit facility expiring in October 2023. Pro forma for the debt
paydown using Stagecoach divestiture proceeds, this balance was
reduced to $274 million. Moody's expects Crestwood will continue to
generate free cash flow through 2022. Crestwood's conservative
distribution policy, which targets distribution coverage of at
least 1.8x, provides additional support to the company's liquidity.
Financial covenants under the credit facility are EBITDA / Interest
of at least 2.5x, net Debt / EBITDA of not more than 5.5x and
senior secured leverage ratio of not more than 3.75x. Moody's
expects the company to maintain compliance with these covenants
through 2022. CEQP's next debt maturity is in 2025 when $500
million of senior notes comes due.

The stable outlook reflects Moody's expectation Crestwood will
maintain or further improve its debt leverage and distribution
coverage metrics.

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

Crestwood's ratings may be upgraded if the company increases its
scale while also improving its business profile by reducing
volumetric risk and improving cash flow stability. Debt/EBITDA
below 3.5x and good distribution coverage would also be supportive
of an upgrade.

A downgrade of Crestwood is possible if the company aggressively
increases shareholder returns, engages in debt funded acquisitions
or weakens its business profile. Debt/EBITDA above 4.5x could
result in a ratings downgrade.

Houston, Texas-based master limited partnership Crestwood, through
its subsidiaries develops, acquires, owns or controls, and operates
primarily fee-based assets and operations within the energy
midstream sector. Its primary operations are located in the Bakken
and Marcellus Shales and the Powder River and Permian Basins.

The principal methodology used in these ratings was Midstream
Energy published in December 2018.


CRIMSONBIKES LLC: Trustee Taps Anderson Aquino as Legal Counsel
---------------------------------------------------------------
John Aquino, the Chapter 11 trustee of CrimsonBikes, LLC, seeks
approval from the U.S. Bankruptcy Court for the District of
Massachusetts to hire Anderson Aquino, LLP to serve as his legal
counsel.

The firm's services include:

     (a) assisting, advising, and representing the trustee in the
administration of the Debtor's Chapter 11 case;

     (b) assisting the trustee in any investigation of the acts,
conduct, assets, liabilities and financial condition of the Debtor,
and directing the activities of accountants and other professionals
that are employed by the trustee;

     (c) assisting the trustee with respect to the prosecution or
defense of any action brought by or against the estate;

     (d) advising the trustee with respect to the allowance or
disallowance of any claims filed against the Debtor's estate;

     (e) assisting the trustee with respect to the collection and
liquidation of the Debtor's assets and any other matters relevant
to the proceeding; and

     (f) advising the trustee in connection with the reorganization
efforts of the estate and any other matters that may be necessary
in the administration of the case.

The firm's hourly rates are as follows:

     Attorneys        $350 - $400 per hour
     Paralegals       $125 per hour

John Aquino, Esq., a member of Anderson Aquino, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     John J. Aquino, Esq.
     Anderson Aquino LLP
     240 Lewis Wharf
     Boston, MA 02110
     Tel.: (617) 723-3622
     Email: jja@andersonaquino.com

                    About CrimsonBikes LLC

CrimsonBikes, LLC, owns and operates a bicycle store in the Greater
Boston area in Massachusetts.

An involuntary Chapter 7 bankruptcy petition was filed against
CrimsonBikes, LLC (Bankr. D. Mass. Case No. 21-10278) on March 3,
2021. The petition was filed by creditors SmartEtailing Inc.,
CVI-TCB Commercial LLC, and Michael Jaeger. The creditors are
represented by Lynne B. Xerras, Esq., and Andrew E. Goloboy, Esq.

On May 19, 2021, CrimsonBikes consented to the entry of an order
for relief and moved the court to convert its case to one under
Chapter 11 of the United States Bankruptcy Code. The court granted
the motion to convert on May 21, 2021.  Judge Janet E. Bostwick
oversees the case.  

The Debtor tapped McAuliffe & Associates, PC as legal counsel and
McCafferty & Company, PC as accountant.

John J. Aquino, the Chapter 11 trustee appointed in the Debtor's
case, is represented by Anderson Aquino, LLP.


DAKOTA TERRITORY: Seeks Cash Collateral Access
----------------------------------------------
Dakota Territory Tours A.C.C. asks the U.S. Bankruptcy Court for
the District of Arizona for authority to use cash collateral in
accordance with the budget.

The Debtor seeks to use cash collateral to make one-time deposits
to utility companies as set forth in its Motion for Order
Determining Adequate Assurance of Performance and to make any
needed customer refunds as discussed in the Customer Programs
Motion.

The Debtor says these assets may constitute cash collateral:

     a. Coin and currency in the amount of approximately $400 and

     b. Deposit accounts in the amount of approximately $213,500.

The Debtor's secured creditors are:

    (A) Zions Credit Corporation, UCC Financing Statement filed
December 1, 2017 at 2017-004-5675-0. This filing purports to
perfect an interest in a single helicopter (a 1990 BELL 206-L3
Kingranger III, SN 51415, N204US) and its engine. It does not
purport to perfect an interest in any cash collateral, and the
Debtor is not aware of any cash collateral proceeds of the
collateral listed.

     (B) Zions Credit Corporation, UCC Financing Statement filed
December 11, 2018 at 2018-004-9014-5. This filing purports to
perfect an interest in a separate single helicopter (a 1981 BELL
206B Helicopter, SN 3314, N401HP) and its engine. It does not
purport to perfect an interest in any cash collateral. The
collateral listed was the subject of an insurance claim, the
proceeds of which represented cash collateral. The insurance
proceeds were applied, pre-petition, to satisfy in full the claim
represented by this filing. The Debtor accordingly believes that it
is entitled to a release of the UCC financing statement, that the
creditor is not entitled to any claim against cash collateral, and
that in any event, there remain no cash collateral traceable to the
collateral listed.

     (C) The US Small Business Administration, UCC Financing
Statement filed June 3, 2020 at December 1, 2017 at
2020-003-2588-4. This filing covers all of the Debtor's personal
property and includes cash collateral. However, its lien is not
perfected as to cash or deposit accounts.

The Debtor's only other known secured claims are four mechanic's
liens for repair services being performed on its engines. These are
possessory liens and do not give rise to claims against cash
collateral. The mechanic's lien claimants are:

     a. Heliponents, Inc.;
     b. Arrow Aviation;
     c. Flight Trails Helicopters; and
     d. Avionics of Central AZ.

The Debtor's budget proposes to pay these mechanic's lien claimants
when repair services are completed.

Both of the Debtor's potentially secured creditors are
significantly oversecured.  The Debtor values at $575,000 the 1990
BELL 206-L3 Kingranger III, SN 51415, N204US which purportedly
secures the 2017 Zions Credit Corporation claim of less than
$262,000. The Debtor's value is based on valuation information
provided by VREF, a widely used aviation valuation resource. The
value could be as high as $785,000 or as low as $475,000, but all
realistic values of the collateral far exceed the amount of the
claim.

The Debtor values its total personal property assets at
approximately $1,500,000, of which $1,284,000 represents aircraft,
and less than $262,000 of which serves as security for the senior
Zions Credit Corporation lien. The debt to the SBA may be as high
as $150,000 but is not liquidated, as some or all of it may be
forgiven under regulations governing COVID-related loans. These
aircraft were valued using the methodology just described, and have
a collective value as high as $1,681,000 or as low as $987,651. The
available non-cash collateral therefore far exceeds the amount of
the claim.

The Debtor proposes, upon demand, to make these adequate protection
payments to its apparently secured creditors:

     a. Zions $6,631.26 monthly and
     b. SBA $771 monthly

While adequate protection often contemplates payments, the use of
cash collateral to operate an income-producing business itself
preserves the value of the collateral. Prudent operation of the
property allows Debtor to preserve its business for sale or to
generate further income, thereby preserving the value of the income
stream.

A copy of the order and the Debtor's three week budget beginning
July 26, 2021 is available at https://bit.ly/3ydFscb from
PacerMonitor.com.

The Debtor projects $165,435 in total income and $154,523.92 in
total expenses.

                About Dakota Territory Tours A.C.C.

Dakota Territory Tours A.C.C. is a company that offers helicopter
tours in northern Arizona. It sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 3:21-bk-05729)
on July 26, 2021. In the petition signed by Eric Brunner as
president, the Debtor disclosed $1,702,410 in assets and $955,763
in liabilities.

Judge Eddward P. Ballinger Jr. oversees the case.

Kelly G. Black, Esq. at Kelly G. Black, PLC is the Debtor's
counsel.



DAVIDZON RADIO: Unsecured Claims Under $200 to be Paid in Full
--------------------------------------------------------------
Great Elm Capital Corp. ("Great Elm") and Kingsland Development
Urban Renewal, LLC ("Kingsland," and together with Great Elm, the
"Plan Sponsors") filed a Disclosure Statement for the Chapter 11
Joint Plan of Orderly Liquidation for Debtor Davidzon Radio, Inc.

The Debtor and certain of its affiliates are in the business of
operating a Russian-language AM and internet-based radio station in
New York and New Jersey. The Debtor's principal assets consist of a
license issued by the Federal Communications Commission (the "FCC
License") to use AM radio spectrum, AM radio towers and related
equipment, and a land lease where the AM radio towers are located.
The AM radio towers are located in Lyndhurst, New Jersey, on land
leased to the Debtor from Kingsland.

The Debtor's assets consist primarily of the FCC License, AM radio
towers and related equipment, and the Kingsland Lease. As of the
Petition Date, the Debtor estimated in its Schedules that its
assets were valued at $4,500,500.

The Debtor's most significant Creditor is Great Elm, to whom the
Debtor was indebted in the amount of at least $10,661,876 as of the
Petition Date, and to whom substantially all of the Debtor's assets
are pledged as collateral.

Post-petition, Great Elm continued to engage in extensive efforts
to reach a consensual resolution with the Debtor and Mssrs. Katsman
and Davidzon. These efforts did not result in an agreement and,
instead, Mr. Katsman and Mr. Davidzon eventually ceased
negotiations.

Class 4 consists of the Great Elm Secured Claim. The Great Elm
Secured Claim will be Allowed against the Debtor in the amount of
$10,661,876 as a secured claim under Section 506 of the Code. On
the Effective Date, Great Elm will receive, on account of the Great
Elm Secured Claim, (x) a payment of the Settlement Payment (less
the amount of the Reserve and any Effective Date Payments) from
Kingsland pursuant to the Kingsland Settlement and (y) the
Post-Effective Date Distribution.

Class 5 consists of Kingsland's Claims against the Debtor arising
out of the Kingsland Lease. Kingsland's Claims against the Debtor
will be Allowed, solely for the purposes of voting on the Plan and
for no other purpose, in the amount of $1.00. On the Effective
Date, and upon the express approval in the Confirmation Order of
the Kingsland Settlement, in satisfaction of Kingsland's Claims
against the Debtor, the Kingsland Lease shall be deemed to have
been rejected and all rights and obligations of the parties to the
Kingsland Lease and as to the Plan Administrator, on behalf of the
Estate, shall be terminated without further action or court order,
and Kingsland will receive the benefits provided for under the
Kingsland Settlement as provided in the Plan.

Class 6 consists of all Allowed unsecured Claims against the Debtor
that do not exceed $200.00, or any Class 7 Claim that wishes to
reduce its Allowed Claim to $200.00 and be treated within this
Class. As of the date of the Plan, this Class included the Claim of
Quill Corporation. Claims in this Class will be paid by the Plan
Administrator in cash and in full on the later of (x) the Effective
Date or (y) the date (i) such claim becomes Allowed, or (ii) the
amount of the Claim is otherwise agreed to by the Plan
Administrator in accordance with the terms of the Plan and the
holder of such Allowed Claim.

Class 7 consists of all Allowed unsecured Claims against the Debtor
(a) that are not treated in Class 6 and do not otherwise elect to
be treated in Class 6 and (b) that are not otherwise treated in
another Class. As of the date of the filing of the Plan, the Plan
Sponsors are not aware of any Claims in this Class. Claims in this
Class will not receive any recovery under the Plan.

Class 8 consists of the holders of stock in the Debtor. The
Debtor's shareholders are Grigory Davidzon and Sam Katsman.
Interests in this Class will not receive a recovery. On the
Effective Date, all stock certificates representing prepetition
equity interests in the Debtor shall be cancelled and deemed
extinguished.

Distributions to Classes 1 (Administrative Claims), 2 (Priority Tax
Claims), 3 (Other Priority Claims), and 6 (General Unsecured Claims
Less than $200.00) will be paid on the Effective Date from the
Settlement Payment or paid from the Reserve, which will be funded
on the Effective Date from the Settlement Payment.

The Plan is predicated upon the Kingsland Settlement, a settlement
between Kingsland and the Debtor. The Kingsland Settlement
consensually resolves various Claims and disputes by and between
the Debtor and Kingsland arising out of or in connection with the
Kingsland Lease and the Kingsland Litigation. Failure to obtain
Court approval of the Kingsland Settlement as a condition precedent
to confirmation of the Plan shall negate and render void any
obligations of Kingsland under the Kingsland Settlement, including,
without limitation, payment of $3.8 million to Great Elm on behalf
of the Debtor.

After the Plan Administrator has completed the tasks necessary to
liquidate, wind down, dissolve or terminate the Post-Effective Date
Debtor and to otherwise comply with its obligations, the Plan
Administrator shall have completed its duties and shall be released
and discharged.

A full-text copy of the Disclosure Statement dated July 27, 2021,
is available at https://bit.ly/3iSNkcA from PacerMonitor.com at no
charge.

Counsel to Great Elm Capital:

     K&L Gates LLP
     James A. Wright III
     Emily Mather
     State Street Financial Center
     One Lincoln Street
     Boston, MA 02111
     Tel: (617) 261-3193
     E-mail: james.wright@klgates.com
             emily.mather@klgates.com

Counsel to Kingsland Development:

     Chiesa Shahinian & Giantomasi PC
     Robert E. Nies
     One Boland Drive
     West Orange, NJ 07052
     Tel: (973) 530-2012
     E-mail: rnies@csglaw.com

                       About Davidzon Radio

Davidzon Radio Inc. operates in the radio broadcasting industry.
The Debtor filed Chapter 11 Petition (Bankr. D.N.J. Case No. 21
10345) on January 15, 2021.

Alla Kachan, Esq. of LAW OFFICES OF ALLA KACHAN, P.C. is the
Debtor's Counsel.

In the petition signed by Sam Katsman, principal, the debtor
disclosed up to $4,500,500 in assets and up to $8,000,000 in
liabilities.


DBMP LLC: Seeks Approval to Hire Donlin, Recano and Company
-----------------------------------------------------------
DBMP, LLC seeks approval from the U.S. Bankruptcy Court for the
Western District of North Carolina to hire Donlin, Recano and
Company, Inc. to oversee the submission of personal injury
questionnaires by claimants.

The firm's hourly rates are as follows:
  
     Executive Management                   No charge
     Senior Bankruptcy Consultant           $180 - $215 per hour
     Case Manager                           $170 - $185 per hour
     Consultant/Analyst                     $140 - $160 per hour
     Technology/Programming Consultant      $95 - $120 per hour
     Clerical                               $35 - $45 per hour
                       
Roland Tomforde, chief operating officer of Donlin, 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:

     Roland Tomforde
     Donlin, Recano and Company, Inc.
     6201 15th Avenue
     Brooklyn, NY 11219
     Tel.: (212) 481-1411
     
                          About DBMP LLC

DBMP, LLC is a North Carolina limited liability company and the
direct parent company of Millwork & Panel LLC, which manufactures
vinyl siding and polyvinyl chloride (PVC) trim products for the
construction market at facilities it owns in Claremont, N.C. and
Social Circle, Ga.  It is a defendant in tens of thousands of
asbestos-related lawsuits pending in courts throughout the United
States.

DBMP sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D.N.C. Case No. 20-30080) on Jan. 23, 2020.  At the time
of the filing, the Debtor disclosed assets of between $500 million
and $1 billion and liabilities of the same range.

Judge J. Craig Whitley presides over the case.

The Debtor tapped Jones Day as bankruptcy counsel; Bates White LLC
as consultant; Robinson, Bradshaw & Hinson, P.A. and Schiff Hardin
LLP as special counsel; and Epiq Corporate Restructuring, LLC as
claims, noticing and balloting agent.  The Debtor also tapped
Donlin, Recano and Company, Inc. to oversee the submission of
personal injury questionnaires by claimants.

The official committee of asbestos personal injury claimants
appointed in the Debtor's case tapped Robinson & Cole, LLP and
Caplin & Drysdale, Chartered as its bankruptcy counsel.  Hamilton
Stephens Steele Martin, PLLC is the committee's local counsel.

The court approved the appointment of Sander L. Esserman as the
future claimants' representative in the Debtor's case.  Mr.
Esserman tapped Young Conaway Stargatt & Taylor, LLP and Stutzman,
Bromberg, Esserman & Plifka, a Professional Corporation, as his
bankruptcy counsel. Alexander Ricks PLLC is the FCR's North
Carolina counsel.


DELTA MATERIALS: Unsecured Creditors to Get $240K over 24 Months
----------------------------------------------------------------
Delta Materials, LLC, and Delta Aggregate, LLC, submitted a First
Amended Disclosure Statement for First Amended Joint Chapter 11
Plan of Reorganization dated July 27, 2021.

Class 1 consists of the Allowed Secured Taxing Authority Claims.
Class 1 shall receive from Delta Aggregate, in full satisfaction,
settlement, release, extinguishment and discharge of such Claims:
(i) retention of liens on the Quarry equal to the Allow Amounts of
such Claims, and (ii) monthly principal and interest payments for a
period of 2 years on the Allowed Amount, amortized over 2 years,
with interest at the statutory rate or a rate as otherwise
determined by the Court. This Class has an estimated allowed amount
of $376,000 and its estimated monthly payment is $19,000.

Class 2 consists of the Allowed Stone Hammer Claims. Class 2 shall
receive, in full satisfaction, settlement, release, extinguishment
and discharge of such Claims, the treatment provided for Stone
Hammer in the Settlement. This Class has an estimated allowed
amount of $4,700,000 and its estimated monthly payment is $50,000.

Class 3 consists of the Allowed Secured Legion Claim. Class 3 shall
receive, in full satisfaction, settlement, release, extinguishment
and discharge of such Claims, the treatment provided for Legion in
the Settlement. This Class has an estimated allowed amount of
$4,500,000 and its estimated monthly payment is $50,000.

Class 4 consists of Allowed General Unsecured Claims. Holders of
Class 4 Claims shall share pro rata in a total distribution in the
amount of $240,000.00 to be paid over a period of time of 24
months. Any Allowed General Unsecured Claim scheduled to receive a
total distribution of $1,000.00 or less shall be paid in a lump sum
within 90 days from the Effective Date. This Class has an estimated
allowed amount of 3,000,000 and its estimated monthly payment is
$10,000.

Class 5 consists of Equity Interests. As of the date hereof, the
Debtors are each wholly owned by MSFL Leasing, LLC. The Plan shall
leave unaltered the legal, equitable, and contractual rights to
which the Equity Interests entitle the holders of such Interests.

The Plan Proponents believe that each holder of an Allowed Claim
will receive or retain under the Plan property of a value, as of
the Effective Date, that is not less than the value such holder
would receive or retain if the Debtor was liquidated under Chapter
7 of the Bankruptcy Code on such date. Specifically, the Debtors'
bankruptcy schedules disclose cash, office furniture and equipment,
and miscellaneous mining equipment with a combined value of less
than $20,000.

Without the financial support of MSFL Leasing, LLC, and with large
debts maturing in late 2022, the Debtors do not believe the Quarry
could be sold for its maximal value as a going concern in a
liquidation. Indeed, the Debtors believe that Stone Hammer could
simply utilize the expedited foreclosure process in the Settlement
to credit bid for the Quarry and leave general unsecured creditors
without a distribution. By contrast, Stone Hammer and Legion have
agreed to support the Plan, and the Plan proposes to pay general
unsecured creditors $240,000 over twenty-four months. Creditors
will fare better under the Plan than in a chapter 7 liquidation,
especially when taking chapter 7 trustee and professional fees into
account.

Together with continued financing from their postpetition lender,
MSFL Financing, LLC, the Debtors anticipate generating revenues
sufficient to make these payments through operation of the Quarry.


With the Quarry operational, the Debtors project its fair market
value to in excess of $10,000,000.00. This value is sufficient for
the Debtors to refinance the Stone Hammer and Legion Claims, and
otherwise perform under the Plan.  As such, the Plan satisfies
section 1129(a)(11) of the Bankruptcy Code.

A full-text copy of the First Amended Disclosure Statement dated
July 27, 2021, is available at https://bit.ly/3fb4mlj from
PacerMonitor.com at no charge.

Attorneys for Debtors:

     Bradley S. Shraiberg, Esq.
     Patrick Dorsey, Esq.
     Shraiberg, Landau & Page, P.A.
     2385 NW Executive Center Drive, Ste. 300
     Boca Raton, FL 33431
     Telephone: (561) 443-0800
     Facsimile: (561) 998-0047
     Email: bshraiberg@slp.law
     Email: pdorsey@slp.law

                    About Delta Materials

Delta Materials, LLC and Delta Aggregate, LLC, are in the business
of aggregate mining, in which material such as crushed stone,
gravel, sand and clay is sold for use in construction.  Delta
Aggregate owns the quarry a street address of 9025 and 9775 Church
Road, Felda, Hendry County, Florida.  Delta Materials is the lessee
or owner of various pieces of mining equipment.

Delta Materials and Delta Aggregate filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Fla. Lead Case No. 19-13191) on March 12, 2019.  Delta Aggregate
owns a property located at 9025 Church Road, Felda, Fla., having an
appraised value of $22 million.

At the time of filing, Delta Materials' assets totaled $22,006,491
and liabilities totaled $10,377,363.  Delta Aggregate had total
assets of $22,006,491 and total liabilities of $10,377,363.

Judge Erik P. Kimball oversees the cases.  

The Debtors' counsel is Bradley S. Shraiberg, Esq., at Shraiberg
Landau & Page, PA, in Boca Raton, Fla.


DIAMOND OFFSHORE: Merger Rumor Prompts Biggest Investor Suit
------------------------------------------------------------
Law360 reports that Diamond Offshore Drilling Inc.'s largest
stockholder sued the company in Delaware's Chancery Court late
Monday, July 26, 2021, to force an annual meeting and board vote,
saying the meeting is overdue and citing reports that the company
is mulling a potentially conflicted sale to another driller.

Avenue Capital Management LP alleged that Diamond has not held an
annual meeting since May 2020 and that it emerged from Chapter 11
in Texas in April 2021 with a board now potentially tilted toward
the interests of Pacific Investment Management Company, or PIMCO,
Diamond's second-largest shareholder after Avenue's 17.

                About Diamond Offshore Drilling Inc.

Diamond Offshore Drilling, Inc., provides contract drilling
services to the energy industry worldwide. The company operates a
fleet of 15 offshore drilling rigs, including 4 drillships and 11
semi-submersible rigs. It serves independent oil and gas companies,
and government-owned oil companies. The company was founded in 1953
and is headquartered in Houston, Texas. Diamond Offshore Drilling
is a subsidiary of Loews Corporation. The company has major offices
in Australia, Brazil, Mexico, Scotland, Singapore, and Norway.

Diamond Offshore Drilling, Inc., along with its affiliates, filed a
voluntary petition for reorganization under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-32307) on April
26, 2020. The petitions were signed by David L. Roland, senior vice
president, general counsel, and secretary.

As of Dec. 31, 2019, the Debtors disclosed $5,834,044,000 in total
assets and $2,601,834,000 in total liabilities.

The case is assigned to Judge David R. Jones.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP
are acting as the Company's legal counsel and Alvarez & Marsal is
serving as the Company's restructuring advisor.  Lazard Freres &
Co. LLC is serving as financial advisor to the Company. Prime Clerk
LLC is the claims and noticing agent.


DIOCESE OF SYRACUSE: Seeks to Employ Cybersecurity Consultant
-------------------------------------------------------------
The Roman Catholic Diocese of Syracuse seeks approval from the U.S.
Bankruptcy Court for the Northern District of New York to tap the
services of Arete Advisors, LLC, a Florida-based cybersecurity
consultant, for forensic analysis and security remediation.

Arete Advisors will be compensated in accordance with the insurance
policy it maintains with American International Group, Inc., which
covers, among other things, the financial costs associated with a
cybersecurity breach. The cyber coverage includes a self-insured
retention of $25,000.

The firm customarily charges a blended hourly rate of $275.

Joseph Mann, chief executive officer of Arete Advisors, 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:

     Joseph Mann
     Arete Advisors, LLC
     1500 Gateway Boulevard, Suite 250
     Boynton Beach, FL 33426
     Tel.: 866.210.0955
     Email: info@areteadvisorsinc.com

                   About the Diocese of Syracuse

The Roman Catholic Diocese of Syracuse, New York, through its
administrative offices (a) provides operational support to the
Catholic parishes, schools and certain other Catholic entities that
operate within the territory of the Diocese in support of their
shared charitable, humanitarian and religious missions; (b)
conducts school operations by managing tuition and scholarship
payments, employee payroll, and other school-related operating
expenses for separately incorporated Diocesan schools, as well as
providing parish schools with financial, operational and
educational support; and (c) provides comprehensive risk management
services to the OCEs through the Diocese’s insurance program. For
more information, visit www.syracusediocese.org

The Roman Catholic Diocese of Syracuse, New York, filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bank. N.D.N.Y. Case No. 20-30663) on June 19, 2020. Stephen
A. Breen, chief financial officer, signed the petition. At the time
of filing, the Debtor estimated $10 million to $50 million in
assets and $50 million to $100 million in liabilities.

Judge Margaret M. Cangilos-Ruiz oversees the case.

The Debtor tapped Bond, Schoeneck and King, PLLC as its legal
counsel, and Stretto as claims agent and administrative advisor.
Mullen Coughlin LLC and Arete Advisors, LLC serve as the Debtor's
special counsel and cybersecurity consultant, respectively.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Debtor's bankruptcy case. The committee
tapped Stinson, LLP as legal counsel and Saunders Kahler, L.L.P. as
local counsel.


DIOCESE OF SYRACUSE: Taps Mullen Coughlin as Special Counsel
------------------------------------------------------------
The Roman Catholic Diocese of Syracuse seeks approval from the U.S.
Bankruptcy Court for the Northern District of New York to hire
Mullen Coughlin, LLC to serve as special counsel with respect to
certain non-bankruptcy cybersecurity matters.

Mullen Coughlin will be compensated in accordance with the
insurance policy it maintains with American International Group,
Inc., which covers, among other things, the financial costs
associated with a cybersecurity breach. The cyber coverage includes
a self-insured retention of $25,000.

John Mullen, Esq., a partner at Mullen Coughlin, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     John F. Mullen, Esq.
     Mullen Coughlin LLC
     426 W. Lancaster Avenue, Suite 200
     Devon, PA 19333
     Tel.: (267) 930-4791
     Email: jmullen@mullen.law

                   About the Diocese of Syracuse

The Roman Catholic Diocese of Syracuse, New York, through its
administrative offices (a) provides operational support to the
Catholic parishes, schools and certain other Catholic entities that
operate within the territory of the Diocese in support of their
shared charitable, humanitarian and religious missions; (b)
conducts school operations by managing tuition and scholarship
payments, employee payroll, and other school-related operating
expenses for separately incorporated Diocesan schools, as well as
providing parish schools with financial, operational and
educational support; and (c) provides comprehensive risk management
services to the OCEs through the Diocese's insurance program. For
more information, visit www.syracusediocese.org

The Roman Catholic Diocese of Syracuse, New York, filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bank. N.D.N.Y. Case No. 20-30663) on June 19, 2020.  Stephen
A. Breen, chief financial officer, signed the petition. At the time
of filing, the Debtor estimated $10 million to $50 million in
assets and $50 million to $100 million in liabilities.

Judge Margaret M. Cangilos-Ruiz oversees the case.

The Debtor tapped Bond, Schoeneck and King, PLLC as its legal
counsel, and Stretto as claims agent and administrative advisor.
Mullen Coughlin LLC serves as the Debtor's special counsel.  

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Debtor's bankruptcy case. The committee
tapped Stinson, LLP as legal counsel and Saunders Kahler, L.L.P. as
local counsel.


DURRANI M.D.: Unsecured Creditors to Recover 50% in 60 Months
-------------------------------------------------------------
Durrani, M.D. & Associates, P.A. and Omar Hayat Durrani, M.D. filed
with the U.S. Bankruptcy Court for the Southern District of Texas a
Disclosure Statement describing a Plan of Reorganization dated July
26, 2021.

Allowed Secured Claims are claims secured by property of the
Debtors' bankruptcy estate (or that are subject to set-off) to the
extent allowed as secured claims under Sec. 506 of the Code.  If
the value of the collateral or setoffs securing the creditor's
claim is less than the amount of the creditor's allowed claim the
deficiency will be classified as a general unsecured claim. The
following lists all classes containing Debtors' secured prepetition
claims and their proposed treatment under the Plan:

     * First United Bank & Trust – This creditor is owed
$551,266.47 for a home loan on 2015 Ivy Crest Ct., Houston, Texas
77077. Dr. Durrani is surrendering this home to the Bank and to the
ad valorem taxing authorities.

     * Harris County, et al - This creditor is owed a secured claim
in the amount of $27,347.95 and court costs of $797.00 regarding
the home at 2015 Ivy Crest Ct., Houston, Texas 77077. Dr. Durrani
is surrendering this home to the ad valorem taxing authorities.

     * Harris County M.U.D. #355 – This creditor is owed a
secured claim in the amount of $481.60 regarding the home at 2015
Ivy Crest Ct., Houston, Texas 77077. Dr. Durrani is surrendering
this home to the ad valorem taxing authorities.

     * Lakes of Parkway Homeowners Association, Inc. – This
creditor is owed $2,872.50 for homeowner's association dues
regarding the home at 2015 Ivy Crest Ct., Houston, Texas 77077. Dr.
Durrani is surrendering this home to the ad valorem taxing
authorities.

     * American Honda Finance Corporation – Dr. Durrani has a
lease contract on a 2020 Honda Pilot SUV for 36 months beginning on
May 23, 2020 in the amount of $534.40 per month. He is currently
making monthly payments on this lease and will continue making
monthly payments through the end of the lease. Dr. Durrani will
turn the vehicle in at the end of the lease.

     * Bank of America, N.A. – This creditor is owed on a
condominium loan in the amount of $129,704.56 regarding 2400 McCue
Road #203, Houston, Texas 77056. Dr. Durrani is attempting to sell
the condo for the benefit of the unsecured creditors. Any equity
realized from the sale will be paid pro rata to all unsecured
creditors.

     * Harris County, et al – This creditor's claim is $8,770.52
for the business personal property taxes. It will be paid in full
the amount it is owed pursuant to the requirements of the United
States Bankruptcy Code or in 60 months if this creditor agrees,
with the first monthly payment being due and payable on the 15th
day of the 1st calendar month following 60 days after the Effective
Date of the Plan.

     * City of Houston – This creditor is owed $6,965.82 for
business personal property taxes. It will be paid in full the
amount it is owed pursuant to the requirements of the United States
Bankruptcy Code or in 60 months if this creditor agrees, with the
first monthly payment being due and payable on the 15th day of the
1st calendar month following 60 days after the Effective Date of
the Plan.

     * Alief Independent School District - This creditor is owed
$16,788.57 for business personal property taxes. It will be paid in
full the amount it is owed pursuant to the requirements of the
United States Bankruptcy Code or in 60 months if this creditor
agrees, with the first monthly payment being due and payable on the
15th day of the 1st calendar month following 60 days after the
Effective Date of the Plan.

     * Balboa Capital Corporation – This creditor is owed a
secured claim in the amount of $9,556.60 for the purchase of an
Eclipse eVIVE and HC Success System. This creditor will be paid in
full plus 4% interest at the rate of $176.00 monthly for 60 months.
This creditor will retain its UCC lien rights against the
equipment, but once it is paid in full, Balboa Capital Corporation
will release its UCC lien.

The total general unsecured claims are approximately $900,000. The
allowed general unsecured creditors will be paid their pro rata
share of $7,500 per month for 60 months beginning on the 15th day
of the first month following the 60th day after the effective date
of the plan.  This will give the allowed general unsecured
creditors approximately 50% of their claims.

Payments and distributions under the Plan will be funded by through
income from the practice of medicine.

A full-text copy of the Disclosure Statement dated July 26, 2021,
is available at https://bit.ly/3i7oc2D from PacerMonitor.com at no
charge.

Attorney for Debtors:
   
     Margaret M. McClure, Esq.
     Law Office of Margaret M. McClure
     909 Fannin, Suite 3810
     Houston, TX 77010
     Telephone: (713) 659-1333
     Facsimile: (713) 658-0334
     Email: margaret@mmmcclurelaw.com

           About Durrani, M.D. & Associates

Durrani, M.D., & Associates, P.A. offers comprehensive treatment
for disorders of the kidneys, bladder and male reproductive system
as well as a focus on male and female sexual health.  Visit
https://www.durranimd.com for more information.

Durrani, M.D., & Associates filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No.
19-35543) on Nov. 13, 2020. The petition was signed by Omar H.
Durrani, M.D., president.  At the time of the filing, the Debtor
had estimated assets of between $100,000 and $500,000 and
liabilities of $1 million to $10 million.

Judge Christopher M. Lopez oversees the case. The Debtor is
represented by the Law Office of Margaret M. McClure.


EASTERDAY RANCHES: DOJ Objects $3.8 Mil. Legal Bill in Bankruptcy
-----------------------------------------------------------------
Don Jenkins of Capital Press reports that the Justice Department
has objected to a $3.8 million legal bill submitted by a Los
Angeles law firm overseeing the liquidation of the bankrupt
Easterday ranches and farms in the Columbia Basin.

The bill, with others to follow, covers work that lawyers with
Pachulski, Stang, Ziehl and Jones did between Feb. 1 and May 31.
Hourly rates averaged $1,053, with one attorney charging $1,695 an
hour, according to court records.

The rates far exceed what local lawyers involved in the case are
seeking and are substantially higher than fees attorneys recently
collected in a more complicated bankruptcy case in Eastern
Washington, according to Assistant U.S. Trustee Gary Dyer, the
government watchdog in the bankruptcy proceeding.

The L.A. firm's bill, submitted this month to U.S. Bankruptcy Judge
Whitman Holt in Yakima, fails to justify the fees, Mr. Dyer stated
in an objection.

The firm vaguely described its services, had too many
nonparticipating lawyers attend court hearings and over-billed by
miscalculating hours, Mr. Dyer claimed.

He asked Holt to reduce the fees and perhaps withhold them until
the L.A. firm provides fuller descriptions of its work.

Efforts to reach the firm's lead attorney on the case, Richard
Pachulski, were unsuccessful.

The firm specializes in bankruptcies and was hired by new Easterday
directors shortly after Cody Easterday resigned as head of
Easterday Ranches and Easterday Farms.

Cody Easterday, 50, later pleaded guilty to defrauding Tyson Fresh
Meats and another company of $244 million by billing them for
buying and feeding cattle that didn't exist. He agreed to pay
restitution and is scheduled to be sentenced Oct. 5 on one count of
wire fraud. He faces up to 20 years in prison.

Separate from restitution in the criminal case, the Easterday
companies -- owned by Cody Easterday, his wife and mother -- owe
millions of dollars to creditors.

Farmland Reserve Inc., owned by the Church of Jesus Christ of
Latter-day Saints, will buy several Easterday farms for $209
million, but the money has to be allocated.

The Pachulski firm was one of three law firms involved in the
bankruptcy proceedings that submitted a first round of legal bills
this month.

In a court filing, Pachulski defended its rates as reasonable,
saying its lawyers overcame objections and organized an auction
that maximized the value of the Easterday properties for
creditors.

Dyer unfavorably compared hourly rates sought by Pachulski to other
attorneys' fees.

Senior members of a law firm that restructured Astria Health, a
Yakima County health-care provider, billed $800 an hour, Dyer
noted. Liquidating farm properties will be simpler, according to
Dyer.

Two Seattle firms also are working on the Easterday bankruptcy. The
lead attorney for Davis Wright Tremaine charged $800 an hour, while
the lead attorney for Bush Kornfeld billed $450 an hour.

By contrast, Isaac Pachulski presented an hourly rate of $1,695. He
worked on the case for 1.6 hours, adding $2,712 to the bill.

His brother, Richard Pachulski, reported working 224.7 hours at
$1,592 per hour for a total of $358,396.

Hourly rates charged by firm attorneys were at least $695 an hour.

Besides Isaac and Richard Pachulski, hourly rates for 11 other
attorneys in the L.A. firm exceeded $1,000 an hour, ranging from
$1,395 to $1,025, according to court records. One attorney billed
$538 after spending less than a half hour on the case.

Some lawyers described their activities as "attention to" or "work
on" the case.

"We requested amplification of these entries ... to understand what
was actually being done," Dyer stated in his brief.

"(The firm's) response was that the entries were litigation related
and they were shielding strategy information. When further pressed
for amplification, (the firm) replied it was 'impractical,'" Dyer
stated.

Five lawyers submitted bills for attending telephonic court
hearings in which they did not participate, according to Dyer. "The
reasons for the attendance of numerous attorneys is simply not
explained or supported in the application," he stated.

Dyer reported finding at least three cases in which billed hours
were apparently inflated by computing errors, resulting in an
over-billing of $2,042.

                  About Easterday Ranches and Easterday Farms

Easterday Ranches, Inc. is a privately held company in the cattle
ranching and farming business.  

Easterday Ranches sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wash. Case No. 21-00141) on Feb. 1,
2021. Its affiliate, Easterday Farms, a Washington general
partnership, filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Wash. Case No. 21-00176) on Feb. 8, 2021. The cases are jointly
administered under Case No. 21-00141.

At the time of the filing, the Debtors disclosed assets of between
$100 million and $500 million and liabilities of the same range.

Judge Whitman L. Holt oversees the cases.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP as their lead
bankruptcy counsel, Bush Kornfeld LLP as local counsel, and Davis
Wright Tremaine LLP as special counsel. T. Scott Avila and Peter
Richter of Paladin Management Group serve as restructuring
officers.

The U.S. Trustee for Region 18 appointed an official committee of
unsecured creditors on Feb. 16, 2021.


ENC PARENT: Moody's Assigns 'B3' CFR & Rates First Lien Debt 'B3'
-----------------------------------------------------------------
Moody's Investors Service assigned ENC Parent Corporation ("ENC" or
"Evans") a corporate family rating of B3, probability of default
rating of B3-PD. Moody's also assigned a B3 rating to the company's
proposed senior secured first lien credit facility and a Caa2
rating to its senior secured second lien credit facility. The
outlook is stable.

ENC will be owned by Court Square Capital Partners following the
transaction. The transaction will be funded with proceeds from the
senior secured first and second lien credit facilities together
with new sponsor equity and a $10 million draw from a new $150
million unrated ABL. The ratings for ENC Holding Corporation will
be withdrawn at the close of the transaction.

Assignments:

Issuer: ENC Parent Corporation

Probability of Default Rating, Assigned B3-PD

Corporate Family Rating, Assigned B3

Senior Secured 1st Lien Term Loan, Assigned B3 (LGD3)

Senior Secured 1st Lien Delayed Draw Term Loan, Assigned B3
(LGD3)

Senior Secured 2nd Lien Term Loan, Assigned Caa2 (LGD5)

Outlook Actions:

Issuer: ENC Parent Corporation

Outlook, Assigned Stable

RATINGS RATIONALE

The ratings reflect ENC's exposure to cyclical freight markets and
relatively small size with annual net revenue of less than $250
million, as a very large portion of Evans' gross revenue are pass
through. ENC also has high financial leverage. Pro forma for the
planned capital structure, debt to LTM EBITDA was 7.2 times at June
30, 2021 (all ratios are Moody's adjusted unless otherwise stated).
The rating also reflects the risk around ENC's large accounts
receivable balances from shippers on behalf of its agents, which
represents over one third of its total assets. ENC's cash flow will
weaken if collections on outstanding receivables are delayed or
ultimately prove uncollectable. ENC is also subject to large
changes in working capital that drives quarterly cash flow
volatility.

ENC has good standing as an agent-based provider of intermodal
drayage services and benefits from a highly scalable agent-based
and asset-light business model, which limits capital expenditure
needs. ENC also has healthy shipper and agent diversification.

The stable outlook reflects Moody's expectation ENC will grow its
topline about 5% organically over the next 12 - 18 months while
improving profitability such that debt-to-EBITDA approaches 6.5
times.

Moody's expects ENC to have good liquidity, which is essential for
the company's credit profile and ability to grow its business over
time. Liquidity enables ENC to ensure it is able to pay its agents
and owner-operators in a timely manner, regardless of whether or
not payment is delayed or proves uncollectable from shippers. ENC
is effectively fronting receivables, and if payments from shippers
are delayed or unpaid, ENC must be able to absorb the float.

Liquidity is primarily supported by Moody's expectation for
positive free cash flow together with access to a $150 million ABL
credit facility that will expire in 2026. Moody's does not expect
the company to draw on the facility to satisfy its liquidity needs.
Availability on the facility will initially be $44 million as $10
million will be drawn at the close of the transaction and roughly
$96 million is used for letters of credit (primarily for automotive
liability deductions). Mandatory term loan amortization will be
modest at around $4.5 million per annum.

ENC's governance risk is high. ENC will be owned by a private
equity firm that is expected to have an emphasis on shareholder
returns over creditors. The company will not have an independent
board of directors and leverage will initially be very high.

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

The ratings could be upgraded if ENC can continue to profitably
increase its size and scale while debt-to-EBITDA approaches 5.0
times and free cash flow-to-debt is sustained above 10%.

The ratings could be downgraded if Moody's expects debt-to-EBITDA
to be sustained above 7.0 times, free cash flow-to-debt is
sustained below 2.5%, or if liquidity weakens. In addition, the
payment of a significant shareholder dividend or execution of a
large debt funded acquisition could pressure the ratings.

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

ENC Parent Corporation ("ENC"), (dba Evans Network of Companies or
Evans Delivery) is an asset-light agent-based provider of services
to operators in the intermodal drayage, truckload, and freight
brokerage markets of the logistics industry. Services provided
include national and regional sales support to agents via a number
of back-office support functions including but not limited to
accounts receivable management, payment processing, insurance, and
compliance. ENC will be owned by PE firm Court Square Capital
Partners. ENC had gross revenue for the twelve months ended June
30, 2021 of about $1.7 billion.


ENC PARENT: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to ENC
Parent Corp., one notch lower than its existing rating on the
predecessor entity.

S&P said, "We also assigned its 'B-' issue-level rating and '3'
recovery rating (rounded estimate: 50%) to the proposed first-lien
debt and its 'CCC' issue-level rating and '6' recovery rating
(rounded estimate: 0%) to the proposed second-lien debt.

"The stable outlook reflects our expectation that credit metrics
will improve somewhat following the transaction but remain in line
with the rating, with debt to EBITDA decreasing to the mid-6x area
in 2022 from the high-6x area in 2021."

Court Square Capital Partners has entered into an agreement to
acquire ENC, an intermodal drayage and truckload brokerage services
provider, from Calera Capital.

As part of the transaction, ENC will recapitalize with a $150
million asset-based lending (ABL) revolving credit facility
(unrated), $450 million first-lien term loan, $40 million
first-lien delayed-draw term loan (undrawn at close), $190 million
second-lien term loan, and an equity contribution from Court
Square.

S&P said, "We expect ENC will benefit from strong demand for
intermodal transportation over the next year. ENC generates the
majority of its gross revenue from intermodal drayage. Drayage
involves the short-haul truck movement of intermodal shipping
containers to and from rail terminals, ports, and warehouses.
Easing pandemic-related restrictions, recovering consumer and
industrial demand, and extended retail restocking activity have all
contributed to high import volumes at U.S. ports and constrained
trucking capacity. As a result, demand for intermodal
transportation remains strong. Specifically, U.S. containerized
freight imports (which provide a proxy for international container
demand) increased in the first half of the year by about 28% from
2020 levels according to estimates from S&P Global Panjiva, while
the Association of American Railroads reported intermodal rail
traffic (which comprises both domestic and international
containers) increased about 18% over the same period. We expect
intermodal volumes will remain elevated through at least the end of
the year, as port and railroad operators continue to work through
backlogs, supporting drayage prices. Therefore, we forecast revenue
to increase by around 50% in 2021, including contribution from
recent acquisitions, before moderating to around 5% in 2022 as
macroeconomic conditions normalize.

"We believe the higher debt load following the transaction will
offset this strong operating performance. Following the
transaction, we expect ENC's total debt will increase significantly
from 2020 levels. As a result, although we expect strong revenue
and EBITDA growth in 2021, we forecast credit metrics will weaken
from historic levels, with debt to EBITDA increasing to the high-6x
area in 2021 from the mid-4x area in 2020 before improving the
mid-6x area in 2022. We also believe there is some uncertainty
regarding the duration of the current demand environment for
freight transportation. Our base-case scenario assumes that pricing
normalizes somewhat in 2022 as supply chain bottlenecks ease and
that the company is able to grow volumes amid continued
macroeconomic expansion.

"We anticipate the company's EBITDA margins will remain mostly
stable. ENC primarily operates using an agent model, where it
charges its agents a fixed percent of gross revenue in exchange for
the services it provides. In contrast, most freight brokers charge
shippers for the cost of transportation plus a premium. Combined
with the typical lag in customer contracts, this can lead to margin
compression during periods of rising prices and margin expansion
during periods of declining prices. We believe ENC's model helps to
reduce earnings volatility within its largest segment. Although
this may change as the company expands its freight brokerage
segment, we currently forecast EBITDA margins will remain in the
mid-single-digit percent area through 2022.

"We assume the company will continue to pursue tuck-in
acquisitions.ENC has expanded its scale and service offerings in
recent years through various tuck-in acquisitions. In 2020, it
completed two acquisitions, within its intermodal drayage and
truckload brokerage segments. Management has successfully
integrated these acquisitions into the business, and we expect the
company will continue to pursue transactions of a similar scale
going forward. Our forecast assumes the company utilizes the $40
million delayed-draw term loan, as well as internally generated
cash, to fund acquisitions and that all transactions are accretive
to revenue and earnings.

"The stable outlook on ENC reflects our expectation that the
company's operating performance should benefit from strong demand
for freight transportation through at least the end of 2021, as
well as the contribution from recent acquisitions. Although we
expect credit metrics will improve subsequent to the transaction,
we believe they will remain commensurate with the rating. We
forecast debt to EBITDA improving to the mid-6x area in 2022 from
the high-6x area in 2021 and funds from operations (FFO) to debt
declining slightly but remaining in the high-single-digit percent
area over the same period."

Although unlikely, S&P could lower its ratings on ENC over the next
12 months if it believes the company's capital structure will not
be sustainable over the longer term. This could occur if:

-- The company's operating performance deteriorates due to a
significant drop in demand for freight transportation;

-- The drayage brokerage market experiences increased competition
from motor carriers or larger entrants; or

-- The company aggressively pursues large debt-financed
acquisitions or shareholder distributions.

S&P could raise its ratings over the next 12 months if the
company's debt to EBITDA improves well below 6.5x on a sustained
basis. This could occur if:

-- Elevated intermodal volumes or higher spot market truck pricing
persists longer than S&P currently expects; or

-- The company improves its profitability through increased
operating efficiency or pricing.

S&P would also need management to commit to maintaining these
ratios before raising its rating.



FERROGLOBE PLC: Needs to Raise More Funds After Debt Restructuring
------------------------------------------------------------------
Irene García Pérez of Bloomberg News reports that Ferroglobe
might need to raise additional funds to meet its working capital
needs, even after restructuring its debt and increasing equity by
$40 million, Moody's analysts wrote in a note on Monday, July 26,
2021.

Moody's affirmed Ferroglobe's rating at 'Caa1', seven steps below
investment grade, with stable outlook Company's liquidity remains
weak.

"The exchange of the notes addresses the large March 2022 debt
maturity issue, but it does not lower the company's overall debt
quantum." according to the report.

                          About Ferroglobe PLC

Ferroglobe PLC operates in the silicon and specialty metals
industry in the United States, Europe, and internationally. The
company was formerly known as VeloNewco Limited and changed its
name to Ferroglobe PLC in December 2015.  The company was founded
in 2015 and is headquartered in London, the United Kingdom.
Ferroglobe PLC is a subsidiary of Grupo Villar Mir, S.A.U.


FIRSTENERGY CORP: Moody's Affirms Ba1 CFR Following DOJ Agreement
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of FirstEnergy Corp.
(FirstEnergy) including its Ba1 Corporate Family Rating, Ba1-PD
Probability of Default rating, and Ba1 senior unsecured rating.
FirstEnergy's Speculative Grade Liquidity rating was upgraded to
SGL-1 from SGL-2 as the company has repaid previous borrowings
under its credit facility. Additionally, Moody's affirmed
FirstEnergy Transmission's (FET) Baa2 senior unsecured rating. The
outlook of both entities was changed to stable from negative.

Moody's also affirmed the ratings of FirstEnergy's Ohio regulated
utility subsidiaries Cleveland Electric Illuminating
Company(The)(Baa2, senior unsecured), Ohio Edison Company (A3,
senior unsecured), and Toledo Edison Company (Baa1,issuer rating)
and maintained their negative outlooks.

RATINGS RATIONALE

"We see the deferred prosecution agreement between FirstEnergy and
the US Department of Justice (DOJ) as an important positive step in
resolving external investigations related to payments made by the
company to Ohio public officials," stated Jairo Chung, Moody's Vice
President -- Senior Credit Officer. Although the company still
faces other external investigations and litigation, as well as
ongoing regulatory and political risk in Ohio, the resolution of
the DOJ criminal investigation removes a major overhang and makes
it less likely that the company's ratings will decline further,
barring unexpected new developments. The DOJ agreement also
provides the company with clarity on the financial impact resulting
from the criminal investigation.

As part of the agreement, FirstEnergy will pay a fine of $230
million and has agreed to a single charge of conspiracy to commit
honest services wire fraud, which will be dismissed after three
years if the company abides by the agreement, including continuing
to cooperate fully with the government's ongoing investigations and
providing regular compliance reporting.

In accordance with the provisions of the agreement, FirstEnergy
issued a statement admitting that it used a 501(c)(4) corporate
entity as a mechanism to conceal payments for the benefit of public
officials and in return for official action.

In addition, over the last several months, FirstEnergy has made
tangible changes to its governance structure and compliance program
to address the material weaknesses in its internal controls. These
governance changes, along with the deferred prosecution agreement,
are a key driver of the change in outlook to stable from negative.
However, the effectiveness of the measures taken by the company to
address its governance shortcomings will take time to gauge and may
not be evident immediately.

Despite the resolution of the DOJ investigation, FirstEnergy's Ba1
rating continues to reflect uncertainty around the outcome of other
external investigations and pending litigation. The company remains
under investigation by the Federal Energy Regulatory Commission
(FERC),the Securities and Exchange Commission (SEC) and the Public
Utilities Commission of Ohio (PUCO), and faces multiple lawsuits
filed by shareholders and customers.

The stable outlook on FirstEnergy Transmission reflects the
diminished contagion risk affecting the transmission intermediate
holding company as a result of developments at the parent company.
When the above mentioned payments and DOJ investigation were
originally disclosed last November, FirstEnergy required covenant
waivers from its bank group and fully drew down FET's $1 billion
credit facility in an effort to preserve the overall organization's
liquidity. FirstEnergy has since repaid the full draw on the FET
facility and FET has also successfully accessed the capital markets
with a $500 million long-term debt issuance in March 2021.

The rating of FET is supported by its low risk FERC regulated
transmission subsidiaries: American Transmission Systems, Inc
(ATSI, A3 stable), Mid-Atlantic Interstate Transmission LLC (MAIT,
A3 stable) and Trans-Allegheny Interstate Line Company (TrailCo, A3
stable), which operate under a credit supportive regulatory
environment and provide predictable cash flows. Unlike
FirstEnergy's Ohio regulated utility subsidiaries, FET is not
subject to and will not be affected by regulatory developments at
the PUCO. Moody's expect FET to maintain stable consolidated credit
metrics with funds from operations (FFO) to net debt ranging
between 15%-17% over the next 2-3 years.

The negative outlooks on Cleveland Electric, Ohio Edison and Toledo
Edison reflect the continued uncertainty over the impact that these
developments will have on the political and regulatory environment
of these utilities. The PUCO is in the midst of a corporate
separation audit of the three utilities as well as an investigation
into their political and charitable spending. In addition, the DOJ
criminal probe lead the Ohio legislature to introduce and pass
House Bill 128, which was signed into law on March 31, 2021. The
bill repealed the nuclear support provisions and decoupling
measures authorized in the previously passed House Bill 6, which
had been credit supportive for these utilities. House Bill 128
became effective June 30, 2021.

The Ohio utilities also face greater scrutiny of their rate
structure and level of returns in general distribution rate cases
and under a significantly excessive earnings test (SEET) review
being conducted by the PUCO. The PUCO could order a rate reset as
part of a distribution rate case for the Ohio utility subsidiaries
at any time. The utilities are required to file for their next
general rate case before the current energy security plan (ESP)
expires in May 2024. An unsupportive outcome of any rate case could
bring about a significant reduction in the utilities' current
return on equity (ROE) of 10.5% and their respective equity
capitalization.

The upgrade of FirstEnergy's Speculative Grade Liquidity rating to
SGL-1 from SGL-2 reflects very good liquidity as a result of robust
dividends from a large, diverse group of utility subsidiaries; a
very strong cash position with about $1.3 billion of cash on hand
at the end of the second quarter of 2021 after it repaid short-term
borrowings under its bank credit facility, which is now nearly
fully available; headroom under the single debt to capital
financial covenant in its credit facility; and considerable ability
to raise cash from asset sales or the issuance of common equity,
preferred, hybrid equity, or secured debt at its utilities, if
necessary.

FirstEnergy's $2.5 billion credit facility matures on December 6,
2022 and, as of July 21, 2021, $2,496 million was available. The
credit facility has a one-year extension option and each regulated
utility, excluding FET and its subsidiaries, is a co-borrower with
its own sub-limit. In November 2020, following disclosure the
mentioned payments and DOJ investigation, FirstEnergy and five of
its utility subsidiaries (Jersey Central Power & Light Company,
Metropolitan Edison Company, Pennsylvania Power company, Toledo
Edison Company and West Penn Power Company) drew $950 million under
their credit facility sub-limits in an effort to preserve
liquidity. FirstEnergy and its subsidiaries subsequently repaid
$850 million as of June 30, 2021, leaving $350 million drawn on the
facility at the end of the second quarter, which has since
decreased to a nominal $4 million as of July 21, 2021.

FET and its subsidiaries have their own five-year $1 billion
syndicated credit facility which also matures on December 6, 2022.
In November 2020, FET and ATSI drew down aggregate $1 billion from
the credit facility; $850 million for FET and $150 million for
ATSI. Over the last two quarters, FET repaid the $850 million at
FET, leaving $150 million borrowed under ATSI at the end of the
second quarter. As of July 21, 2021, FET and its subsidiaries had
the full $1 billion available under the facility.

Environmental, Social and Governance Considerations

FirstEnergy's ESG Credit Impact Score is CIS-4 (highly negative),
reflecting a combination of the high social and governance risk as
described below and moderately negative environmental risk.

FirstEnergy's moderately negative environmental risks (E-3 issuer
profile score) primarily reflect utility exposure to physical
climate risks. These risks are somewhat offset by FirstEnergy's
overall low carbon transition risk.

High social risks (S-4 issuer profile score) reflect FirstEnergy's
ongoing external investigations involving alleged bribery and other
illegal activities of former executives. Also, it reflects the
fundamental utility risk that demographics and societal trends
could include public concerns over affordability, or increase
utility reputational risk that could lead to an adverse political
intervention or regulatory response.

High governance risk (G-4 issuer profile score) is based on
FirstEnergy's internal control weaknesses and the pending external
investigations and lawsuits as a result of the criminal
investigation in Ohio. FirstEnergy reached a deferred prosecution
agreement with the US Department of Justice. The company agreed to
pay a fine of $230 million and agreed to a single charge of
conspiracy to commit honest services wire fraud, which will be
dismissed after three years if the company abides by the
agreement.

Rating Outlook

FirstEnergy's stable outlook reflects the conclusion of the DOJ
investigation and management's progress thus far towards
strengthening internal controls and corporate governance, both
developments making it less likely that its rating will decline
further from its current level. Although the company continues to
face elevated regulatory and political risk in Ohio, other external
investigation and pending litigation, Moody's expect the company to
continue strengthening its internal controls and corporate
governance, improve its relationship with its regulators and take
measures to improve its financial profile.

For FET, the stable outlook incorporates the reduced leverage given
the repayment of $500 million of draws under its bank credit
facility. The stable outlook further incorporates the change in
outlook of parent FirstEnergy to stable.

The negative outlooks on Cleveland Electric, Ohio Edison and Toledo
Edison reflect the continued uncertainty related to regulatory
developments in Ohio, which could potentially have a negative
financial impact on the utilities.

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

Factors that could lead to an upgrade

A positive outlook or rating upgrade of FirstEnergy could be
considered if other pending investigations are resolved, including
the SEC, FERC and PUCO; if there is continued progress on the part
of the company to eliminate material weaknesses in internal
controls and improve corporate governance; or if there is
additional clarity on the regulatory and political environment for
the Ohio utilities, leading to stable outlooks at these utilities.
Upward momentum on the rating would also be supported by improved
credit metrics, such that FirstEnergy's cash flow from operations
before changes in working capital (CFO pre-WC) to debt is above 12%
on a sustained basis and a strengthened balance sheet at the parent
company.

For FET, a rating upgrade could be considered if parent debt at FET
is reduced significantly or if its transmission subsidiaries are
upgraded. Also, if the regulatory environment for its transmission
subsidiaries improves significantly or its financial profile
strengthens such that FET consistently produces consolidated FFO to
net debt above 20%, a rating upgrade could be possible.

The outlooks of Cleveland Electric, Ohio Edison and Toledo Edison
could return to stable if there is clarity on any potential changes
to the political and regulatory environment for these utilities as
a result of developments at the parent or if regulatory changes
made do not materially affect the cash flow coverage metrics at
these utilities.

Factors that could lead to a downgrade

The ratings of FirstEnergy could be downgraded if there are new or
unexpected developments that heighten corporate governance risk at
the parent or regulatory and political risk at its Ohio or other
material utility subsidiaries, or if FirstEnergy's financial
metrics or balance sheet deteriorates further.

FET's rating could be downgraded if the regulatory environment for
transmission companies deteriorates; or if the balance sheet or
liquidity of FET is used to support FirstEnergy or its other
businesses. A rating downgrade could also be considered if
FirstEnergy is downgraded; or if FET's FFO to net debt falls below
15% on a sustained basis.

A downgrade of Cleveland Electric, Ohio Edison, and Toledo Edison
could occur if there are adverse regulatory developments in Ohio
that materially affect the financial metrics at these utilities.

Affirmations:

Issuer: FirstEnergy Corp.

Corporate Family Rating, Affirmed Ba1

Probability of Default Rating, Affirmed Ba1-PD

Senior Unsecured Bank Credit Facility, Affirmed Ba1

Senior Unsecured Regular Bond/Debenture, Affirmed Ba1

Senior Unsecured Shelf, Affirmed (P)Ba1

Issuer: Cleveland Electric Illuminating Company (The)

Issuer Rating, Affirmed Baa2

Senior Secured First Mortgage Bonds, Affirmed A3

Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Issuer: Ohio Edison Company

Issuer Rating, Affirmed A3

Senior Secured First Mortgage Bond, Affirmed A1

Senior Unsecured Regular Bond/Debenture, Affirmed A3

Issuer: Toledo Edison Company

Issuer Rating, Affirmed Baa1

Senior Secured Regular Bond/Debenture, Affirmed A2

Issuer:FirstEnergy Transmission

Issuer Rating, Affirmed Baa2

Senior Unsecured Bank Credit Facility, Affirmed, Baa2

Senior Unsecured Regular Bond/Debenture, Affirmed Baa2

Upgrades:

Issuer: FirstEnergy Corp.

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

Outlook Actions:

Issuer: FirstEnergy Corp.

Outlook, Changed To Stable From Negative

Issuer: Cleveland Electric Illuminating Company (The)

Outlook, Remains Negative

Issuer: Ohio Edison Company

Outlook, Remains Negative

Issuer: Toledo Edison Company

Outlook, Remains Negative

Issuer:FirstEnergy Transmission

Outlook, Changed To Stable From Negative

FirstEnergy Corp., headquartered in Akron, Ohio is a fully
regulated utility holding company, serving approximately six
million customers in five states through its utility operations.
FirstEnergy's total rate base is approximately $23 billion with
about $8 billion of FERC-regulated transmission.

FET is a wholly owned subsidiary of FirstEnergy and is an
intermediate transmission holding company for transmission
subsidiaries American Transmission System, Inc (ATSI), Mid-Atlantic
Interstate Transmission, LLC (MAIT), and Trans-Allegheny Interstate
Line Company (TrailCo).

Ohio Edison Company is the largest Ohio distribution utility within
the FirstEnergy family, serving over 1 million customers. Cleveland
Electric Illuminating Company is also an Ohio distribution utility
within the FirstEnergy family. It serves approximately 750,000 in
northeastern Ohio. Toledo Edison Company, the smallest Ohio
distribution utility within the FirstEnergy family, serves
approximately 310,000 customers in northwestern Ohio. All three
Ohio utilities are regulated by the Public Utility Commission of
Ohio.

The principal methodology used in rating FirstEnergy Corp.,
Cleveland Electric Illuminating Company (The), Ohio Edison Company
and Toledo Edison Company was Regulated Electric and Gas Utilities
published in June 2017.


FLEXSYS INC: S&P Assigns 'B' Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to
U.S.-based chemical company Flexsys Inc. (Eastman Tire).

S&P said, "We also assigned our 'B' issue-level and '3' recovery
ratings to the company's senior secured credit facility, which
consists of a revolving credit facility and a term loan.

"The stable outlook reflects our expectation that the company's
operating performance will allow it to maintain credit measures
that we view as appropriate for the current rating, including
weighted-average debt to EBITDA in the 5x-6x range.

"The ratings on Eastman Tire reflect our view of the company's
narrow product focus, end-market concentration in the cyclical tire
industry, customer concentration, and limited scale. The company
provides vulcanizing agents, antidegradants, and stabilizers solely
for the tire industry. We view the tire market as cyclical, but we
note the company has a larger exposure to replacement tires than
new auto tires, which we view as less volatile. Though we don't
view this likely in the short term, substitute products are a risk
due to the narrow product focus. The company's top three customers
represent 45% of sales. The loss of a key customer could materially
affect earnings, but the company has had longstanding relationships
with its key customers. In addition, its lack of meaningful scale
leaves earnings vulnerable to demand and pricing shocks, as
exhibited in 2020. The company's above-average profitability, with
EBITDA margins that we expect will be over 20%, strong customer
retention rate of 98%, and geographic diversity partially offset
these risks.

"Our view of the company's financial risk reflects our expectation
that it will maintain appropriate credit metrics for the rating,
with weighted average debt to EBITDA between 5x and 6x.We expect
significant revenue growth in 2021 due to strong global tire demand
following the 2020 recession and pricing initiatives. We expect
EBITDA margins to expand from 2020 lows, but not to the elevated
2018 levels. We expect the company to generate solid free cash flow
and maintain liquidity sources to uses over 1.2x. We believe
financial policies will be aggressive given its private-equity
ownership by One Rock Capital.

"S&P Global Ratings' stable outlook reflects our expectation that
Eastman Tire will maintain operational performance levels resulting
in pro forma weighted-average debt to EBITDA between 5x and 6x. We
expect top-line growth due to a combination of macroeconomic
tailwinds supporting volumes and pricing initiatives. We expect
EBITDA margins to recover from depressed 2020 levels, but not to
the high levels in 2018. We assume there will be no material
increases in debt to fund acquisitions in our base case scenario.
In addition, we expect the company will generate positive free cash
flow that will support its ability to maintain adequate liquidity.

"We could lower our ratings on Eastman Tire in the next 12 months
if we expected weighted average debt to EBITDA approaching 6.5x,
with no prospects for improvement. This could occur if there were a
weaker macro-environment than we anticipated, increased pressure
from substitute products, a loss of a key customer, or declining
demand for its products or if the company encountered issues during
the transition into a stand-alone entity. In such a scenario,
EBITDA margins would decline 250 basis points beyond our base case
expectation. We could also lower our rating if we believed the
company's financial policy would no longer support its current
credit quality. This could occur if Eastman Tire undertook a large
debt-funded acquisition or dividend recapitalization that stretched
credit metrics. In addition, we could take a negative rating action
if the company's liquidity materially weakened such that we
anticipated its sources would be less than 1.2x its uses.

"We could take a positive rating action within the next 12 months
if the company's operating performance were stronger than we
expected, such that pro forma debt leverage were below 5x on a
sustained basis by improving EBITDA margins 400 basis points beyond
our base case expectations. This could occur if the tire market
grew at a pace greater than expected, supporting volume growth for
Eastman Tire; the company were able to gain market share in the
eastern market; or the company were able to increase prices at a
greater rate than expected. We would also need clarity that the
company's financial policies would support credit measures at these
levels, after factoring in its growth initiatives."



FLUSHING AIRPORT: Disclosure Statement Hearing Slated for August 31
-------------------------------------------------------------------
The Honorable Nancy Hershey Lord will convene a telephonic hearing
on August 31, 2020 at 3 p.m. to consider approval of the Disclosure
Statement of Flushing Airport Holdings LLC.

Objections, if any, must be served and filed so as to be received
at least seven days prior to the hearing date.

                About Flushing Airport Holdings LLC

Flushing Airport Holdings 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 131-05 23rd Avenue College Point NY,
11356 having a comparable sale value of $3 million.

Flushing Airport Holdings LLC filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
20-40864) on Feb. 26, 2020. In the petition signed by Maurizio
Oppedisano, managing member, the Debtor estimated $3,000,000 in
assets and $8,302,724 in liabilities.

On March 4, 2020, a petitioning creditor filed an involuntary
Chapter 7 petition for affiliate, Disano Trucking, Inc. (Bankr.
E.D. N.Y. Case No. 20-41349).  A Chapter 7 petition was also filed
for Maurizio Oppedisano (Bankr. E.D. N.Y. Case No. 20-41348) on
March 4.  The three cases are not jointly administered.

Judge Nancy Hershey Lord is assigned to Debtor Flushing Airport
Holdings' case.  

Mark Frankel, Esq. at Backenroth Frankel & Krinsky, LLP, serves as
the Debtor's counsel.  


FLUSHING AIRPORT: Settlement Money to Fund Chapter 11 Plan
----------------------------------------------------------
Flushing Airport Holdings LLC filed with the Bankruptcy Court a
Chapter 11 Plan and Disclosure Statement dated July 23, 2021.

Flushing owns a vacant land in 131-05 23rd Ave., College Point, New
York from which it operates a parking lot for trucks.  Flushing
purchased the Property from Ralph Romano, Frank Arnold's former
son-in-law.  Frank Arnold owns the property adjoining to that of
the Debtor's Property.  The Debtor's Property, until 2015, provided
the only access to the Arnold Property.

On October 8, 2014, Flushing; its principal, Maurizio Oppedisano;
and Disano Trucking, an affiliate, represented by Blodnick, Fazio &
Associates, P.C., commenced an adverse possession case against
Frank Arnold.  The theory was that Flushing established adverse
possession through control of access to the Arnold Property rather
than actual use and occupancy of the Arnold Property.  Frank Arnold
sought dismissal and counterclaimed for use and occupancy.  The
trial court granted Frank Arnold summary judgment dismissing the
adverse possession claims.  The case proceeded on Frank Arnold's
counterclaims.  Adam Leitman Bailey (ALB) substituted for Blodnick
as counsel on November 20, 2015.

In a Memorandum Decision entered on February 20, 2019, the Trial
Court granted Arnold a judgment for (a) $399,434 for taxes Arnold
paid for the Arnold Property during the period, and (b) $3,394,110
for rent.  With statutory interest, the judgment entered in the
Adverse Possession Case exceeded $5.5 million as of the filing of
the Flushing Chapter 11 petition on Feb. 26, 2020.  On March 4,
2020, Chapter 7 petitions were filed for each of Maurizio
Oppedisano and Disano Trucking.  At about the same time, the
parties agreed to mediation with Frank Arnold. While in mediation,
the Appellate Division affirmed Arnold's judgment against the
Debtors.  The parties subsequently entered into a memorandum of
understanding with Frank Arnold, under which the Debtors agreed to
pay Arnold $5,000,000 on or before May 3, 2021 in full and final
satisfaction of Arnold's claims against the Debtors, and Arnold
gave the Debtors an option to purchase the Arnold Property for
$2,500,000 on or before December 31, 2021.  $5,000,000 was
subsequently paid to Arnold from borrowed funds.  

As required by their engagement letters, the Debtors entered into
arbitration with ALB.  The Debtors contended that neither Blodnick
nor ALB advised them that the causes of action on behalf of
Oppedisano and Disano Trucking should not have been brought by
Flushing, if at all, nor did the Defendants discussed litigation
strategies to minimize potential liability based on the limited use
that had been made of Lot 16 (the Arnold Property) by Flushing -
and only Flushing.

ALB and the Debtors entered into the Settlement Agreement, pursuant
to which ALB agreed to pay the Debtors $1,500,000 in exchange for
mutual releases, including ALB's release and waiver of its $147,000
claim against the Debtors for legal fees. As amongst the Debtors,
$500,000 of the settlement proceeds has been allocated to Flushing,
and $1,000,000 has been allocated to Disano.  

Those two settlements are the foundation for the Plan and its
implementation.

                     Means for Implementation

Effective Date obligations under the Plan will be satisfied from
the Debtor's cash on hand of $65,000 to be deposited in escrow with
Backenroth Frankel & Krinsky, LLP no later than one week before the
Confirmation Hearing for Debtor's administrative legal fees,
priority claims and general unsecured claims.

The Arnold Settlement Agreement shall be implemented under the
Plan, pursuant to which the Debtor shall purchase the Arnold
Property for $2,500,000.  The funds for that purchase may be
provided under the Plan by mortgage financing to be provided by the
Abdel Awad, the Class 3 Claimant.  In addition, the Debtor, Abdel
Awad and Maurizio Oppedisano shall enter into certain notes
mortgages.

Classes of Claims and Interest:

  * Class 1 New York City Lien Claims

Class 1 Claims total approximately $31,410.

Treatment -- Payment in full in Cash of Allowed Amount on the
Effective Date, plus interest at the applicable statutory rate as
it accrues from the Petition Date through the date of payment.

  * Class 2 Priority Claims under Section 507(a) of the Bankruptcy
Code.  Class 2 Claims total approximately $0.

  * Class 3 General Unsecured Claims

Class 3 consists of the projected maximum allowed claims
approximating $2,780,000 held by Abdel Awad.  The Class 3 Claimant
shall be entitled to an amended note and mortgage lien on the
Property.

In exchange for Mr. Awad's agreeing to defer payment of the Class 3
Claim:

  -- the Debtor has agreed to be an additional obligor of the
outstanding amount of the $5,000,000 loan made to Disano Trucking
to fund the Arnold Settlement;

  -- the Class 3 Claimant shall be entitled a note and first
mortgage on the Arnold Property and a second mortgage on the Debtor
Property for such amounts as the Class 3 Claimant loans to the
Debtor to purchase the Arnold Property, upon the Debtor's purchase
of the Arnold Property under the Arnold Settlement pursuant to the
Plan; and

  -- the Class 3 Claimant shall also be entitled to subordinate
mortgages on all real property owned by directly or beneficially by
Oppedisano, on account of the Class 3 Claim, the $5,000,000
advances made to fund the Arnold Settlement and such amounts as the
Class 3 Claimant loans to the Debtor to purchase the Arnold
Property.

  * Class 4 Interests Holders

Interest Holders shall be entitled to continued ownership of their
Interests.

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

Counsel for Debtor, Flushing Airport Holdings LLC:

   Mark A. Frankel, Esq.
   Backenroth Frankel & Krinsky, LLP
   800 Third Avenue, 11th Floor
   New York, NY 10022
   Telephone: (212) 593-1100
   Facsimile: (212) 644-0544
   Email: mfrankel@bfklaw.com

                About Flushing Airport Holdings LLC

Flushing Airport Holdings 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 131-05 23rd Avenue College Point NY,
11356 having a comparable sale value of $3 million.

Flushing Airport Holdings LLC filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
20-40864) on Feb. 26, 2020. In the petition signed by Maurizio
Oppedisano, managing member, the Debtor estimated $3,000,000 in
assets and $8,302,724 in liabilities.

On March 4, 2020, a petitioning creditor filed an involuntary
Chapter 7 petition for affiliate, Disano Trucking, Inc. (Bankr.
E.D. N.Y. Case No. 20-41349).  A Chapter 7 petition was also filed
for Maurizio Oppedisano (Bankr. E.D. N.Y. Case No. 20-41348) on
March 4.  The three cases are not jointly administered.

Judge Nancy Hershey Lord is assigned to Debtor Flushing Airport
Holdings' case.  

Mark Frankel, Esq. at Backenroth Frankel & Krinsky, LLP, serves as
the Debtor's counsel.  



FURNITURE FACTORY: Disclosures OK'd; Sept. 16 Conf. Hearing Set
---------------------------------------------------------------
Judge J. Kate Stickles approved the Disclosure Statement explaining
the Joint Plan of Liquidation of Furniture Factory Ultimate
Holding, L.P., and affiliated debtors.

The hearing to consider confirmation of the Plan is set for
September 16, 2021 at 10 a.m. (prevailing Eastern Time).
Objections to Plan confirmation must be filed and served no later
than 4 p.m. (prevailing Eastern Time) on September 8.  The Debtors
and the Creditors' Committee are authorized to file and serve a
confirmation brief, replies or an omnibus reply to any such
objections no later than 4 p.m. (prevailing Eastern Time) on
September 13.

Voting deadline is by 4 p.m. (prevailing Eastern Time) on September
8, 2021.

A copy of the order is available for free at https://bit.ly/3rBLb9n
from Stretto, claims agent.

             About Furniture Factory Ultimate Holding

Furniture Factory Outlet, LLC retails furniture and accessories
products and serves customers in the United States. It was founded
in 1984 in Muldrow, Okla., around an original concept of providing
quality furniture at highly competitive prices with its "lowest
price every day" guarantee.

Furniture Factory and its affiliates, including Furniture Factory
Outlet, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 20-12816) on November 5, 2020. Furniture Factory was estimated
to have $10 million to $50 million in assets and liabilities.

The Honorable John T. Dorsey is the case judge before Judge J. Kate
Stickles took over the case.

The Debtors tapped Klehr Harrison Harvey Branzburg LLP as legal
counsel, Focalpoint Securities LLC as an investment banker, RAS
Management Advisors LLC as a financial advisor, and B. Riley Real
Estate, LLC as their real property lease consultant. Stretto is the
claims agent.



G-III APPAREL: Moody's Affirms Ba3 CFR & Alters Outlook to Positive
-------------------------------------------------------------------
Moody's Investors Service affirmed G-III Apparel Group, Ltd.'s
ratings, including the corporate family rating at Ba3, probability
of default rating at Ba3-PD and the senior secured notes rating at
Ba3. The speculative-grade liquidity rating was upgraded to SGL-1
from SGL-3. The outlook was changed to positive from negative.

The outlook change to positive reflects G-III's better than
expected operating performance and credit metrics over the past
year, as the company was able to navigate the very challenging
environment by effectively reducing costs and debt, and the
successful restructuring of its retail operations including the
closure of the Wilsons Leather, G.H. Bass and Calvin Klein
Performance stores. Although still having weakened in 2020 due to
the pandemic, the company continues to maintain solid metrics, with
debt/EBITDA of around 2.2 times as of April 2021. Moody's expect
further improvement over the coming year as the company recovers
from the pandemic and realizes the benefits from the recent
restructuring. However, uncertainty remains around the pace of
recovery as the pandemic continues to have a lingering negative
effect on the global economy particularly with regards to supply
chain disruptions as international countries continue to contend
with rising case counts and restrictions.

The upgrade to SGL-1 reflects the company's very good liquidity
position, supported by $396 million of cash and $614 million of
availability under its undrawn $650 million ABL revolver at the end
of April 2021, as well as Moody's expectation for continued
positive free cash flow over the next 12-18 months.

Upgrades:

Issuer: G-III Apparel Group, Ltd.

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

Affirmations:

Issuer: G-III Apparel Group, Ltd.

Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba3-PD

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

Outlook Actions:

Issuer: G-III Apparel Group, Ltd.

Outlook, Changed To Positive From Negative

RATINGS RATIONALE

G-III 's Ba3 CFR reflects its solid market position, well known
brands, broad product offering and track record of growth, both
organically and through new licenses and acquisitions. The rating
also considers governance considerations, specifically a
conservative leverage policy that targets debt reduction and
maintaining moderate leverage. For the twelve month period ended
April 2021, lease-adjusted debt-to-EBITDAR was 2.2 times, having
improved significantly since the acquisition of Donna Karan due to
earnings growth and debt reduction. Liquidity is very good,
supported by ample balance sheet cash, positive free cash flow and
an undrawn revolver.

G-III's credit profile is constrained by the company's ongoing
reliance on licensed brands for nearly two-thirds of its sales, and
the relatively short term of the contracts within the licensed
portfolio. Calvin Klein, its largest licensed brand expires in
December 2023. In addition, as an apparel wholesaler/retailer,
G-III's business risk is high due to the potential for performance
volatility related to fashion risk or changes in consumer spending,
and significant wholesale customer concentration, with Macy's and
TJX Companies accounting for around 21% and 13% of fiscal 2021
sales, respectively.

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

The positive outlook reflects Moody's expectation for continued
solid operating performance and credit metrics over the next 12-18
months.

The ratings could be upgraded if the company sustainably expands
revenue and EBITA margins, and maintains conservative financial
policies and very good liquidity. Quantitatively, an upgrade would
require average lease-adjusted debt/EBITDA sustained below 3.5
times and EBITA/interest expense above 3.5 times.

The ratings could be downgraded if revenue or earnings
deteriorated, or if liquidity materially weakened or financial
policies turned more aggressive, such as through shareholder
returns or debt-financed acquisitions, that led to sustainably
higher leverage. Failure to renew major licenses or sustainably
reduce leverage ahead of major license expirations could also lead
to a downgrade. Specific metrics include average lease-adjusted
debt/EBITDA sustained above 4.5 times or EBITA/interest expense
below 2.5 times.

G-III designs, sources and markets apparel and accessories under
owned, licensed and private label brands. G-III's owned brands
include DKNY, Donna Karan, Vilebrequin, G.H. Bass, Eliza J, Jessica
Howard, Andrew Marc and Marc New York. G-III has fashion licenses
under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld Paris,
Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi's and Dockers
brands, as well as major professional and collegiate sports
leagues. The company also operates retail stores under the DKNY,
Karl Lagerfeld Paris and Vilebrequin stores and its digital
channels for the DKNY, Donna Karan, Vilebrequin, Karl Lagerfeld
Paris, Andrew Marc, Wilsons Leather and G.H. Bass brands. Revenue
for the twelve-month period ended April 2021 was approximately $2.2
billion.

The principal methodology used in these ratings was Apparel
published in June 2021.


GAINCO INC: Fourth Cash Collateral Order Amended
------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas Corpus
Christi has entered an order amending the Fourth Interim Order
Authorizing the Use of Cash Collateral.

As previously reported by the Troubled Company Reporter, after the
entry of the Fourth Interim Order, the Debtor received a coverage
quote and, as set forth in the Debtor's Emergency Motion for
Approval of Commercial Insurance Premium Finance Agreement, has
sought court approval of the renewal of its insurance policy
providing general liability, pollution legal liability, auto
liability and excess liability coverage. The down payment required
for the insurance coverage is $42,000. Coupling the $42,000 down
payment with the Debtor's other regular monthly insurance premiums,
the Debtor's July insurance obligations will be $59,600.

Although there is currently a court-approved expense contingency in
the budget attached to the Fourth Interim Order, it will not be
sufficient to satisfy the entire July insurance premiums.

The Fourth Interim Order is modified to allow the Debtor to use an
additional $5,000 in cash collateral (if any exists) in order allow
for the payment of the Debtor's July insurance premiums.

A copy of the order is available at https://bit.ly/3i6oJSx from
PacerMonitor.com.

                      About Gainco, Inc.

Gainco, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 21-21122 on April 30,
2021. In the petition signed by Theresa Nix, president, the Debtor
disclosed up to $1 million in assets and up to $10 million in
liabilities.

Judge David R. Jones oversees the case.

The Law Offices of William B. Kingman, P.C. is the Debtor's
counsel.



GEON PERFORMANCE: S&P Assigns 'B' ICR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to
U.S.-based chemical company Geon Performance Solutions LLC.

S&P said, "At the same time, we assigned our 'B+' issue-level
rating and '2' recovery rating to the company's senior secured
credit facility, which comprises a revolver and a term loan B.

"The stable outlook on Geon reflects our expectation that its
operating performance will enable it to maintain credit measures we
view as appropriate for the current rating, including debt to
EBITDA in the 4x-5x range."

S&P is rating Geon following the dividend recapitalization of its
capital structure. SK Capital purchased the Performance Products &
Solutions business (now Geon) of PolyOne Corp. (now Avient Corp.)
in October 2019 for $775 million. Geon is now seeking to refinance
outstanding debt incurred at the time of the acquisition and fund a
dividend to SK Capital. Since its acquisition by SK Capital, the
company has successfully implemented a number of value-creation
initiatives, improved its EBITDA, and generated strong cash flow
despite the challenging, but improving, economic environment.

The ratings reflect Geon's leading market positions in its niche
segments, solid profitability, limited geographic diversity
(primarily focused in North America), and moderate end-market
diversity. The company has limited product diversity and operates
through just two segments: Vinyl (about 77% of sales; offers
polyvinyl chloride [PVC] and chlorinated polyvinyl chloride [CPVC]
compounds) and Engineered Polymer solutions (about 33% sales;
offers polypropylene [PP] compounds, polycarbonate [PC],
polyethylene [PE], etc.). Geon is the No. 1 producer of PVC
compounds in the world by capacity, volume, resin consumption, and
revenue. The company's investment in research and development (R&D)
has enabled it to become a differentiated, value-add solutions
provider. The company is among the top 4 polypropylene formulators
in North America through its Engineered Polymer Solutions segment,
which is exposed to cyclical end markets such as transportation and
building and construction (B&C), primarily in North America. Geon's
businesses benefit from its long-standing and sticky relationships
with blue chip customers and suppliers and its ability to generate
strong cash flows given its asset-light model and limited required
capital expenditure (capex).

S&P said, "Our view of the company's financial risk reflects our
expectation that it will maintain credit metrics we consider
appropriate for the current rating, including weighted average debt
to EBITDA of between 4x and 5x.

"We expect Geon to significantly increase its revenue in 2021
through strong demand in both of its segments and its pricing
initiatives. Specifically, we expect the company's EBITDA margins
to improve due to a shift in its value product mix and management's
pricing initiatives. Given Geon's low capex requirements and our
expectation for improving earnings, we estimate it will continue to
generate solid free cash flow. Our assessment of the company's
financial risk profile is constrained by its ownership by a
financial sponsor that we view to be aggressive. This is evidenced
by SK Capital's decision to pursue a debt-funded dividend during
its first two years of owning Geon.

"The stable outlook on Geon reflects our expectation that it will
maintain its operational performance such that its pro forma
weighted-average debt to EBITDA remains between 4x and 5x. We
expect the company to expand its topline on a combination of
macroeconomic tailwinds, pricing initiatives, and acquisitions.
Additionally, we expect it to generate positive free cash flow,
which will support its ability to maintain adequate liquidity.

"We could lower our ratings on Geon in the next 12 months if we
expect its weighted average debt to EBITDA to be about 6.5x for
consecutive quarters absent prospects for a near-term improvement.
This could occur if the company's macroeconomic environment is
weaker than we anticipate, the demand for its products declines,
its recent acquisitions underperform our expectations, or its raw
material prices increase and it is unable to pass through the
additional cost to its customers. Under such a scenario, we assume
Geon's EBITDA margins would decline by 400 basis points (bps)
relative to our base-case expectation. We could also lower our
rating if we believe the company's financial policy will no longer
support its current credit quality. This could occur if Geon
undertakes a large debt-funded acquisition or dividend
recapitalization that stretches its credit metrics. Additionally,
we could take a negative rating action if the company's liquidity
materially weakens such that we anticipate its ratio of liquidity
sources to uses will decline below 1.2x.

"We could take a positive rating action on Geon in the next 12
months if its operating performance is stronger than we expect.
Specifically, we could take a positive action if it improves its
EBITDA margins by 400 bps relative to our base-case expectation
such that its pro forma debt leverage approaches 4.0x on a
sustained basis for consecutive quarters. This could occur if Geon
improves its business through a mix of higher-margin acquisitions
and a greater-than-expected expansion into the more-profitable
electronic and infrastructure end markets. We would also need to be
certain the company's financial policies would support its ability
to maintain its credit measures at these levels, after factoring in
management's growth initiatives, before raising our rating."



GIRARDI & KEESE: California Bar Plans Random Trust Account Audits
-----------------------------------------------------------------
Law360 reports that the State Bar of California, facing accusations
it mishandled investigations into allegations that plaintiffs
lawyer Thomas V. Girardi stole from his clients, announced Monday,
July 26, 2021, it will consider conducting random audits of client
trust accounts and updating the rules and laws that underpin its
discipline system.

The bar has formed a special committee to study those and other
proposals to better protect client trust accounts, like those that
Girardi has been accused of pillaging for decades. Lawmakers are
threatening the bar's funding, calling for an outside probe and a
public explanation of why it failed to discipline Girardi all those
years.

                        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.  

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



GORDON BROTHERS: Unsecureds Will Get 100% Plus Interest
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Washington
has established certain deadlines relative to the plan confirmation
process of Gordon Brothers Cellars, Inc., et al.

With respect to voting parties, in order to have your vote on the
plan counted you must fill out the attached ballot and return the
ballot to the Debtor's counsel no later than Aug. 13, 2021.
Objections to confirmation of the Plan are also due Aug. 13, 2021.
   
The Court will hold a hearing to consider confirmation of the
Debtors' Plan on Aug. 20, 2021 at 9:30 a.m.

                        Second Amended Plan

Gordon Brothers Cellars, Inc., Kamiak Vineyards, Inc. and Jeff &
Vicki Gordon submitted a Second Amended Chapter 11 Plan of
Reorganization.

The Plan proposes to pay creditors of each of the Debtors 100% of
the principal amount of their claims plus interest.

Class 9 - Unsecured Claims Against GBC & Kamiak and Class 10 -
Unsecured Claims against Individuals will accrue interest at the
rate of 2.5% per annum until paid in full. Unsecured Creditor's
Allowed Claims shall be paid in 10 equal annual payments of
principal and interest with the first payment due on Dec. 31, 2022,
and subsequent payments due on Dec. 31 of each subsequent year
until Dec. 31, 2031, when the entire balance of the Unsecured
Claims shall be due in full.

The payments contemplated by the Plan will be funded through the
Debtors' continuing operations, as described in the Budgets.
Payments may also be funded through sales of assets, including the
Development Property or refinance of the Debtors'
assets/operation.

Counsel for the Debtor:

     Roger W. Bailey
     Bailey & Busey PLLC
     411 North 2nd Street
     Yakima, Washington 98901
     Tel: (509) 248-4282
     Fax: (509) 575-5661
     E-mail: roger.bailey.attorney@gmail.com

A copy of the Disclosure Statement dated July 21, 2021, is
available at https://bit.ly/3rw7Tji from PacerMonitor.com.

                   About Gordon Brothers Cellars

Gordon Brothers Cellars, Inc., owns and operates a wine business.
Gordon Brothers Cellars sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 20-02003) on Nov.
6, 2020.  In the petition signed by Jeffrey J. Gordon, president,
the Debtor disclosed $447,844 in assets and $2,148,304 in
liabilities.

Gordon Brothers Cellars' case is jointly administered with the
Chapter 11 case of Kamiak Vineyards Inc., which sought bankruptcy
protection (Bankr. E.D. Wash. Case No. 20-02038) on November 17,
2020.  Gordon Brothers Cellars' is the lead case.

Judge Whitman L. Holt oversees the cases.

John W. O'Leary, Esq., at Gravis Law, PLLC, represents the Debtor.

Kevin O'Rourke is the Chapter 11 Subchapter V Trustee.

Jason Ayres, Esq., and Todd Reuter, Esq., at Foster Garvey P.C.,
represent Bank of Eastern Washington.

Michael Paukert, Esq., at Paukert & Troppmann, PLLC, represents
Equitable Financial Life Insurance Company.


GREAT AMERICAN: Disclosure Hearing Continued to August 19
---------------------------------------------------------
Judge Joshua P. Searcy has entered an order within which the
telephonic hearing to consider the Disclosure Statement of Debtor
Great American Treating, Inc. is continued to August 19, 2021 at
9:30 a.m.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/2V44agK from PacerMonitor.com at no charge.

                  About Great American Treating

Great American Treating, Inc.. filed a Chapter 11 bankruptcy
petition (Bankr. E.D. Tex. Case No. 21-60078) on March 4, 2021,
disclosing under $1 million in both assets and liabilities.  The
Debtor is represented by the Patrick Law Offices.


HEARTWISE INC: Amended Disclosure Hearing Continued to September 1
------------------------------------------------------------------
Judge Mark S. Wallace has entered an order within which the hearing
on the First Amended Disclosure Statement describing First Amended
Chapter 11 Plan of Reorganization of debtor Heartwise, Inc. is
continued to September 1, 2021 at 2:00 p.m.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/3faZVa2 from PacerMonitor.com at no charge.  

General Insolvency Counsel for Heartwise, Inc.:

     Ronald A. Clifford
     R. CLIFFORD & ASSOCIATES
     1100 Town and Country Rd., Suite 1250
     Orange, California 92868
     Telephone: (949) 533-9774
     E-Mail: RAC@RCliffordLaw.com

                       About Heartwise Inc.

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

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

Judge Mark S. Wallace oversees the case.

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


HOOD LANDSCAPING: Disclosure Statement Hearing Set for Sept. 14
---------------------------------------------------------------
Judge John T. Laney, III will consider approval of the Disclosure
Statement of Hood Landscaping Products, Inc. in a telephonic
hearing on September 14, 2021 at 2 p.m. in the U.S. Bankruptcy
Courtroom, One Arsenal Place, Suite 309, 901 Front Avenue,
Columbus, Georgia.  

Objections must be filed by September 3, 2021.

A copy of the order setting the hearing is available for free at
https://bit.ly/3yblQp1 from PacerMonitor.com

                      About Hood Landscaping

Hood Landscaping Products, Inc., a wholesaler of landscaping
equipment and supplies in Adel, Ga., filed a voluntary petition
under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No.
19-70644) on June 3, 2019.  In the petition signed by Leon Hood,
chief financial officer, the Debtor estimated $50,000 in assets and
$1 million to $10 million in liabilities. Judge John T. Laney III
presides over the case.  Kelley, Lovett, Blakey & Sanders, P.C., is
the Debtor's counsel.



HOPE ACADEMY: Fitch Withdraws 'B' Issuer Default Rating
-------------------------------------------------------
Fitch Ratings has withdrawn the following Issuer Default Rating
(IDR):

-- Hope Academy (MI) IDR. Previous Rating: 'B'/Stable Rating
    Outlook.

Following the withdrawal of Hope Academy's ratings, Fitch will no
longer provide the associated ESG Relevance Scores for the issuer.

The rating was withdrawn because it is no longer considered by
Fitch to be relevant to the agency's coverage.


HOUSTON AMERICAN: Four Proposals Passed at Annual Meeting
---------------------------------------------------------
Houston American Energy Corp. held its Annual Meeting of
shareholders at which the shareholders:

  (1) elected Stephen Hartzell as Class B director to serve until
      the 2024 Annual Meetings of Stockholders and until his
      successor has been duly elected and qualified, or until such

      director's earlier resignation, removal or death;

  (2) did not approve an amendment of the Company's certificate of
      incorporation to increase the authorized shares of common
      stock;

  (3) adopted the Company's 2021 Equity Incentive Plan by the
      stockholders;

  (4) ratified the appointment of Marcum LLP as the Company's
      independent registered public accounting firm for fiscal
2021;
      and

  (5) approved the compensation of the named executive officers as

      disclosed in the Company's Proxy Statement.

                   About Houston American Energy

Based in Houston, Texas, Houston American Energy Corp. is a
publicly-traded independent energy company with interests in oil
and natural gas wells, minerals and prospects.  The company's
business strategy includes a property mix of producing and
non-producing assets with a focus on the Permian Basin in Texas,
Louisiana and Columbia.

Houston American reported a net loss of $4.04 million for the year
ended Dec. 31, 2020, a net loss of $2.51 million for the year ended
Dec. 31, 2019, and a net loss of $4.04 million for the year ended
Dec. 31, 2018.  As of March 31, 2021, the Company had $11.19
million in total assets, $433,254 in total liabilities, and $10.76
million in total shareholders' equity.


IMERYS TALC: Asks Court to Make J&J Pay for Baby Powder Claims
--------------------------------------------------------------
Steven Church of Bloomberg News reports that Imerys Talc America
escalated its bankruptcy fight with Johnson & Johnson, asking a
judge to force the consumer products giant to help pay costs
associated with more than 14,000 health claims associated with
allegedly tainted talc used in baby powder.

Imerys filed a lawsuit as part of its Chapter 11 bankruptcy Tuesday
asking U.S. Bankruptcy Judge Laurie Silverstein to enforce
so-called indemnity agreements between the two companies.

Under those agreements, J&J is allegedly responsible for helping
cover the cost of defending against and, if necessary, paying off
claims to people who say the baby powder caused ovarian cancer,
mesothelioma and many others.

                     About Imerys Talc America

Imerys Talc America, Inc. and its subsidiaries --
https://www.imerys-performance-additives.com/ -- are in the
business of mining, processing, selling and distributing talc. Its
talc operations include talc mines, plants and distribution
facilities located in Montana (Yellowstone, Sappington, and Three
Forks); Vermont (Argonaut and Ludlow); Texas (Houston); and
Ontario, Canada (Timmins, Penhorwood, and Foleyet). It also
utilizes offices located in San Jose, Calif., and Roswell, Ga.

Imerys Talc America and its subsidiaries, Imerys Talc Vermont, Inc.
and Imerys Talc Canada Inc., sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 19-10289) on Feb. 13, 2019. The Debtors were
estimated to have $100 million to $500 million in assets and $50
million to $100 million in liabilities as of the bankruptcy
filing.

Judge Laurie Selber Silverstein oversees the cases.

The Debtors tapped Richards, Layton & Finger, P.A., and Latham &
Watkins LLP as their legal counsel, Alvarez & Marsal North America,
LLC as financial advisor, and CohnReznick LLP as restructuring
advisor.  Prime Clerk, LLC, is the claims agent.

The U.S. Trustee for Region 3 appointed an official committee of
tort claimants in the Debtors' Chapter 11 cases. The tort
claimants' committee is represented by Robinson & Cole, LLP.


IRONWOOD FINANCIAL: Taps Mitchell, McNutt & Sams as Legal Counsel
-----------------------------------------------------------------
Ironwood Financial, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Mississippi to hire Mitchell,
McNutt & Sams, P.A. to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) advising the Debtor in the administration of its estate;

     (b) examining witnesses;

     (c) determining the priority of creditors;

     (d) investigating claims and determining the validity of
liens;

     (e) recovering assets;

     (f) evaluating and attacking claims of various creditors who
may assert security interests in the Debtor's assets and who may
seek to disturb the continued operation of the business;

     (g) appearing in, prosecuting or defending suits and
proceedings, and taking all necessary steps and other matters
involved in or connected with the affairs of the estate;

     (h) representing the Debtor in court hearings and assisting in
the preparation of documents;

     (i) advising and consulting with the Debtor in connection with
any reorganization plan, which may be proposed in the proceeding
and any matters concerning the Debtor which arise out of or follow
the acceptance or consummation of such reorganization or its
rejection; and

     (j) performing other legal services, which may become
necessary.

The firm's hourly rates are as follows:

     Andrew Phillips, Esq.          $250 per hour
     James P. Wilson, Jr., Esq.     $250 per hour
     Rosamond H. Posey, Esq.        $225 per hour
     Associate attorneys            $190 per hour
     Paralegals                     $90 per hour

The Debtor paid $25,000 to the law firm as a retainer fee.

Andrew Phillips, Esq., partner and shareholder of Mitchell, McNutt
& Sams, 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:

     Andrew Phillips, Esq.
     Mitchell, McNutt & Sams, P.A.
     1216 Van Buren
     Oxford, MS 38655
     Tel.: 662-234-4845
     Fax: 662-234-9071

                      About Ironwood Financial

Oxford, Miss.-based Ironwood Financial, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No.
21-10866) on May 3, 2021. In the petition signed by John H. Lewis,
manager, the Debtor disclosed up to $10 million in assets and up to
$50 million in liabilities.  Judge Jason D. Woodard oversees the
case.  Mitchell, McNutt & Sams, P.A. serves the Debtor's legal
counsel.


JOHNSON & JOHNSON: House Subcommittee Asks About Bankruptcy Plans
-----------------------------------------------------------------
Rep. Raja Krishnamoorthi, the Chairman of the Subcommittee on
Economic and Consumer Policy, on July 28, 2021, sent a letter to
Johnson & Johnson CEO Alex Gorsky, seeking information about the
company's reported plans to pursue bankruptcy protection for a
dedicated subsidiary the company would create to assume liability
for injuries allegedly caused by Johnson & Johnson talc Baby
Powder.

"Through this Subcommittee's investigation into the presence of
carcinogenic asbestos in Johnson & Johnson's talc Baby Powder, we
have heard from people diagnosed with mesothelioma and ovarian
cancer.  And we have heard from families who have lost loved ones
to those diseases," wrote Chairman Krishnamoorthi.  "We seek to
learn how those who have suffered harm from your product could be
affected by your reported plan."

From 2019 to 2020, the Subcommittee conducted investigations into
the health risks of asbestos in talc-containing consumer products,
focusing on Johnson & Johnson Baby Powder.  The hearings led the
Food and Drug Administration (FDA)'s Interagency Working Group to
recommend new approaches to regulating talc product testing, which
mirrored the Subcommittee's recommendations.  And in May 2020,
Johnson & Johnson discontinued sales of its talc-based Baby
Powder.

In his letter, Chairman Krishnamoorthi asked the company to address
whether it plans to adequately capitalize the new entity to cover
its extensive liabilities.

Chairman Krishnamoorthi requested all documents and information
relating to the bankruptcy plan and how it may affect consumers who
were harmed by Johnson & Johnson’s products, by August 11, 2021.

                       About Johnson & Johnson

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.

                           *     *     *

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




JOHNSON & JOHNSON: Talc Claimants to Pre-Empt Bankruptcy Strategy
-----------------------------------------------------------------
Andrew Scurria and Jonathan Randles of The Wall Street Journal
reports that Johnson & Johnson talc claimants are seeking to
pre-empt the company's bankruptcy strategy.  

People alleging that Johnson & Johnson's talc-based baby powder
caused their cancers asked a federal court to forbid the company
from taking steps to place its talc liabilities in bankruptcy,
while lawmakers sought information about the same issue from J&J's
CEO.

A committee representing talc-injury claimants asked for a
restraining order forbidding J&J from carving out talc-related
liabilities from the rest of the business.  J&J has told
personal-injury lawyers it is considering bankruptcy for a
subsidiary as a way to resolve lawsuits and future claims stemming
from talc, The Wall Street Journal reported last week.

Separating out talc liabilities from other assets is a first step
toward the bankruptcy plan, the injury claimants said in court
papers filed Wednesday.

"We stand behind the safety of our products as decades of
independent scientific testing has confirmed that our talc is safe
and does not cause cancer," a J&J spokeswoman said Wednesday. The
company has previously said it hasn’t decided on any course of
action regarding talc lawsuits, except to defend the safety of its
products and to fight pending claims.

As of April, there were roughly 28,900 pending U.S. lawsuits
linking the company's talc-containing powders, which it stopped
selling last year, to ovarian cancer and the asbestos cancer
mesothelioma.

                      About Johnson & Johnson

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.

                           *     *     *

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



JTS TRUCKING: Unsecureds to Split Residual Sale Proceeds Pro Rata
-----------------------------------------------------------------
JTS Trucking LLC filed with the Bankruptcy Court an Amended Chapter
11 Plan of Liquidation and an accompanying Amended Disclosure
Statement dated July 23, 2021.

The Debtor was out of business and sought relief under Chapter 11
to complete the sale of its remaining assets in order to resolve
the litigation with one of its creditors, Atlantic Southern
Construction, Inc.

The Debtor intends to sell its remaining assets to Elite Milwright
Fabrication, LLC for $325,000, subject to Court approval. The
Debtor expects to close the sale by October 31, 2021.

If the Debtor does not sell the remaining assets to Elite Milwright
Fabrication, the Debtor will seek other buyer(s), first through
advertising the sale by November 15, 2021.  The Debtor shall then
serve a First Sale Motion and a Court order approving the sale on
all parties-in-interest, and shall advertise the sale.  The Debtor
proposed that all bids, other than the Initial Qualified Bid, shall
be received by January 19, 2022.  In case of multiple bids
received, the Debtor shall hold an auction on January 21, 2022.  

The Plan provides for the payment of the classified claims, as
follows:

   1. Administrative Expenses

The Plan proposed that all allowed administrative expenses be paid
in full on the Effective Date, or as can be agreed between the
parties.  The Debtor, however, shall pay the fees due the
Bankruptcy Clerk's office as they come due on quarterly basis.

   2. Priority Claims

Under the Plan, all allowed priority claims shall be paid in full
on the Effective Date, (unless otherwise agreed to by the parties).
The Internal Revenue Service filed a proof of claim as partially
priority for $7,613 and the balance of the claim as unsecured.

   3. Secured Claims

Vantage Bank filed a proof of claim as secured claim for $282,578
secured by the real estate located at 940 Portwood Drive,
Albertville, Alabama.  The claim shall be paid in full from the
sale of said real estate, upon which the claimholder holds a first
priority mortgage.

   4. Unsecured Claims

The Debtor estimates that unsecured claims total $56,532, including
the unsecured portion of the IRS claim. The Debtor proposes to pay
each of the unsecured claimholders the allowed amount of their
claim from its pro rata share of the remaining proceeds from the
liquidation of the remaining assets and from the net proceeds from
the expected litigation by the Debtor against Atlantic Southern
Construction, Inc. and Jason Cahela after payment in full of all
allowed administrative expenses, allowed priority claims, and
allowed secured claims.  Said payments shall be made within 60 days
of the complete payment of the allowed administrative expenses and
other allowed claims but not later than March 31, 2022.

   5. Atlantic Southern Construction, Inc.

Atlantic Southern Construction has not filed a proof of claim in
the Debtor's case.  Any amount paid to Atlantic Southern
Construction shall be based on a final non-appealable judgment in
its favor, if any such judgment is obtained.
This claim shall be paid only after payment in full of all allowed
administrative expenses, allowed priority claims, allowed secured
claims and allowed unsecured claims.  

Said payments shall be made within 30 days of the complete payment
of the allowed administrative expenses and other allowed claims, or
within 30 days of the entry of a final non-appealable judgment in
Atlantic Southern Construction's favor, whichever is last to occur
but not later than March 31, 2022.

   6. KHR Properties, LLC

KHR Properties field a proof of claim, an unsecured claim for
$400,000.  This is a late filed claim and the Debtor intends to
object to it.  The Debtor believes that KHR Properties is the
successor to Atlantic Southern Construction, Inc. since KHR
Properties had been substituted for Atlantic Southern Construction
in the state court litigation.  Any amount paid to KHR Properties
shall be based on a final non-appealable judgment in its favor, if
any such judgment is obtained.

  7. Equity Security Holders

The equity security holders, Susan Lowden and John Lowden, shall
retain all of their equity interests in the Debtor.  They shall
receive nothing for their equity interest unless all creditors are
paid or otherwise satisfied in full according to the Plan.

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

                        About JTS Trucking

JTS Trucking LLC, a trucking company based in Albertville, Alabama,
sought protection under Chapter 11 of the Bankruptcy Court (Bankr.
N.D. Ala. Case No. 20-40423) on March 6, 2020, listing under $1
million in both assets and liabilities.  The petition was signed by
Susan M. Lowden, its member.  The Debtor tapped Harry P. Long,
Esq., at the Law Offices of Harry P. Long, LLC as its counsel; Bill
Massey and MDA Professional Group, PC as its accountants; and Kevin
Lowery and RE/MAX The Real Estate Group as broker and property
manager for the Debtor's estate.



KEHE DISTRIBUTORS: S&P Ups ICR to 'B+' on Improved Credit Metrics
-----------------------------------------------------------------
S&P Global Ratings raised all of its ratings on U.S.-based natural
food distributor KeHE Distributors Holdings LLC by one notch,
including the issuer credit rating to 'B+' from 'B', the ABL
revolver rating to 'BB' from 'BB-', and the second-lien secured
notes rating, to 'B' from 'B'.

S&P said, "The stable outlook reflects our expectation that the
company will continue to improve its sales despite some
normalization of consumer behavior following the elevated demand
during the pandemic. We also believe the company will continue to
pursue a more prudent approach to acquisitions with debt to EBITDA
remaining around 5x on a sustained basis.

"The upgrade reflects KeHE's improving credit metrics and its less
aggressive acquisition strategy. Like many essential retailers,
KeHE has experienced strong positive results amid the COVID-19
pandemic with sales growth of about 14% in fiscal 2021. However,
even prior to the pandemic, the company achieved solid topline
growth, with net sales increasing at a double-digit percent
compounded annual growth rate over the prior three years as a
result of continued changing consumer tastes for natural and fresh
products. In addition, the company has achieved operational
efficiencies over the past few years in integrating past
acquisitions while growing its sales. KeHE has focused on growing
its customer pipeline as well as existing customers, optimizing
distribution routes, and improving working capital management which
has led to robust earnings growth with improved adjusted leverage.

"Despite higher working capital in 2021, the company also used its
excess cash flow to repay debt, redeeming 10% of its outstanding
second-lien notes at a premium earlier this year. As a result,
adjusted debt to EBITDA improved to 4.9x as of the end of fiscal
2021 (May 2, 2021) with about $400 million borrowed against its
revolver. While we anticipate sales growth to slow due to the
partial return to food away from home, we expect operating leverage
to offset the gross margin pressure due to the growing mix of
lower-margin limited-service customers and we believe the company
will continue to delever through earnings growth with adjusted
leverage remaining below 5x on a sustained basis. As such, we
revised our assessment of financial risk profile to aggressive from
highly leveraged.

"Private equity firm TowerBrook Capital Partners L.P. replaced
KeHE's long-term minority owner Prudential Capital Corp. in 2019.
In our view, the investment provides KeHE with a stable source of
capital for future growth. Over time, we expect KeHE will pursue
small, tuck-in acquisitions as it broadens its geographic
footprint. However, given the company's track-record of aggressive
debt-funded mergers and acquisitions (M&A), there is a risk
management could pursue a large acquisition, which would likely
introduce financial and integration risk not currently contemplated
in our base-case scenario.

"Despite its leading position in the growing specialty natural and
organic (N&O) niche segment of food retailing, KeHE still faces
challenges amid its relative small scale and customer concentration
in the wholesale distribution industry. The N&O and specialty foods
segments has materially outpaced the growth of conventional food
products over the last decade due to changing consumer tastes and
preferences and we expect KeHE, the second-largest distributor of
N&O products in the U.S., will continue to benefit from these
trends.

"While we recognize the progress KeHE has achieved in expanding its
scale over the last few years and ongoing strategy to strengthen
its network development activity, the company lacks in our view the
purchasing power and reach of its larger competitors, including
United Natural Foods (UNFI) and C&S Wholesale Grocers. In addition,
while KeHE serves both large-chain and independent retailers and
has signed long-term distribution agreements with its key grocery
customers over the past year, its sales remain concentrated with a
few top customers and its three largest accounts represented 53% of
total sales in fiscal 2021 (with the largest customer accounting
for about 30% of total net sales).

"The stable outlook reflects our expectation that the company will
continue to improve its sales with adjusted EBITDA margins
remaining in the mid-3% area despite the consumer behavior partly
normalizing following the elevated demand during the pandemic. We
also believe the company will continue to pursue a more prudent
approach to acquisitions with debt to EBITDA remaining around 5x on
a sustained basis."

S&P could lower its rating on KeHE if:

-- Operating results weaken with adjusted EBITDA margins declining
by more than 60 basis points below our forecast causing adjusted
leverage to exceed the low 5x on a sustained basis; or

-- The company's financial policy became more aggressive with a
large debt-funded acquisition.

S&P could raise its rating on KeHE if:

-- The company further improves its competitive standing in the
industry including by materially increasing its scale and having
less customer concentration; and

-- The company is able to maintain adjusted debt to EBITDA below
4x on a sustained basis.



LCF LABS: Court Confirms Second Amended Reorganization Plan
-----------------------------------------------------------
Judge Mark S. Wallace confirmed the Second Amended Plan of
Reorganization for Small Business Under Chapter 11 of LCF Labs
Inc.

The effective date of the Plan shall be the first business day that
is at 15 days after the entry of the confirmation order, provided
there has been no order staying the confirmation order's
effectiveness.

The first post-confirmation status conference will be held on
December 7, 2021 at 9 a.m., and the post-confirmation status report
shall be filed 14 days prior to this hearing.

A copy of the order is available for free at https://bit.ly/3xcH9Fo
from PacerMonitor.com.

Counsel for the Debtor:

   Jeffrey I. Golden, Esq.
   Beth E. Gaschen, Esq.
   Sonja M. Hourany, Esq.
   Weiland Golden Goodrich LLP
   650 Town Center Drive, Suite 600
   Costa Mesa, CA 92626
   Telephone 714-966-1000
   Facsimile 714-966-1002
   Email: jgolden@wgllp.com
          bgaschen@wgllp.com
          shourany@wgllp.com

                          About LCF Labs  

Ontario, Calif.-based LCF Labs Inc. filed a Chapter 11 petition
(Bankr. C.D. Calif. Case No. 20-14295) on June 22, 2020.  LCF Labs
CEO Qusay Al Qaza signed the petition.  In its petition, the Debtor
was estimated to have $1 million to $10 million in assets.

Judge Mark S. Wallace oversees the case.  Weiland Golden Goodrich
LLP substituted The Law Offices Of Neil C. Evans as the Debtor's
bankruptcy counsel.


LIMETREE BAY: Hires Jefferies to Help Sell Refinery Business
------------------------------------------------------------
Rachel Butt of Bloomberg Law reports that Limetree Bay selects
banker Jefferies Financial to sell refinery business.

Limetree Bay selected investment bank Jefferies Financial Group to
help kick off a sale process for its St. Croix refinery during
bankruptcy, according to people with knowledge of the matter who
asked not to be identified talking about private matters.

The company is seeking approval of bidding and sale procedures at a
hearing next week, according to court papers. Existing creditors
could use the debt owed to them to make a bid. The initial goal is
to find a so-called stalking horse bidder by Sept. 10 to make a
binding, opening offer at a proposed Sept. 22, 2021 auction.

                         About Limetree Bay

Limetree Bay Energy is a large-scale energy complex strategically
located in St. Croix, U.S. Virgin Islands.  The complex consists of
Limetree Bay Refining, a refinery with peak processing capacity of
650 thousand barrels of petroleum feedstock per day, and Limetree
Bay Terminal, a 34-million-barrel crude and petroleum products
storage and marine terminal facility serving the refinery and
third-party customers.

Limetree Bay Refining, LLC, restarted operations in February 2021,
and is capable of processing around 200,000 barrels per day.  Key
restart work at the site began in 2018, including the 62,000
barrels per day modern, delayed Coker unit, extensive
desulfurization capacity, and a reformer unit to produce clean,
low-sulfur transportation fuels. The restart project provided much
needed economic development in the U.S.V.I. and created more than
4,000 construction jobs at its peak.

Limetree Bay Refining, LLC and its affiliates sought Chapter 11
protection on July 12, 2021.  The lead case is In re Limetree Bay
Services, LLC (Bankr. S.D. Tex. Case No. 21-32351).  Limetree Bay
refining listed at least $1 billion in assets and at least $500
million in liabilities as of the bankruptcy filing.

Baker Hostetler is acting as legal counsel for the Company and B.
Riley Financial Inc. has been retained as restructuring advisor.


LIMETREE BAY: Plans Chapter 11 Asset Sale by Middle of October 2021
-------------------------------------------------------------------
Law360 reports that bankrupt St. Croix oil refinery owner Limetree
Bay filed its proposed Chapter 11 bidding procedures in a Texas
bankruptcy court, floating a plan to complete a sale of its assets
by mid-October 2021.

In the filing made late Monday, Limetree Bay said it has begun
idling the sprawling refinery facility in consultation with the
U.S. Environmental Protection Agency after it was ordered to pause
operations due to dangerous emissions in May 2021, and will begin
its pursuit of a sale of the refinery.

                         About Limetree Bay

Limetree Bay Energy is a large-scale energy complex strategically
located in St. Croix, U.S. Virgin Islands.  The complex consists of
Limetree Bay Refining, a refinery with peak processing capacity of
650 thousand barrels of petroleum feedstock per day, and Limetree
Bay Terminal, a 34-million-barrel crude and petroleum products
storage and marine terminal facility serving the refinery and
third-party customers.

Limetree Bay Refining, LLC, restarted operations in February 2021,
and is capable of processing around 200,000 barrels per day.  Key
restart work at the site began in 2018, including the 62,000
barrels per day modern, delayed Coker unit, extensive
desulfurization capacity, and a reformer unit to produce clean,
low-sulfur transportation fuels. The restart project provided much
needed economic development in the U.S.V.I. and created more than
4,000 construction jobs at its peak.

Limetree Bay Refining, LLC and its affiliates sought Chapter 11
protection on July 12, 2021.  The lead case is In re Limetree Bay
Services, LLC (Bankr. S.D. Tex. Case No. 21-32351).  Limetree Bay
refining listed at least $1 billion in assets and at least $500
million in liabilities as of the bankruptcy filing.

Baker Hostetler is acting as legal counsel for the Company and B.
Riley Financial Inc. has been retained as restructuring advisor.



LIMETREE:Wants Pollution Lawsuits vs. Private-Equity Backers Halted
-------------------------------------------------------------------
Andrew Scurria of The Wall Street Journal reports that the bankrupt
Limetree Bay oil refinery in the U.S. Virgin Islands asked to halt
pollution lawsuits from proceeding against its current and former
private-equity backers, saying it can't afford to be drawn into
litigation against them.

The lawsuits already are on hold against Limetree Bay Refining LLC
after it filed for chapter 11 earlier in July 2021, but are
proceeding against its co-defendants, including its controlling
owner, EIG Global Energy Partners LLC. On Monday, July 26, 2021,
the refinery asked the judge overseeing its bankruptcy to extend
the litigation reprieve for 60 days to EIG and other, prior
owners.

If granted, the request also would suspend litigation against a
nearby oil-storage facility that depends on the refinery for
business. EIG, which backs both the refinery and the terminal,
declined to comment.

Personal-injury and property-damage claims have piled up against
the refinery since February 2021, when it restarted after several
years offline. Months later, federal authorities shut the refinery
after several polluting incidents, including a release of airborne
oil droplets that rained down on neighboring areas in May 2021.
Bankruptcy followed.

The refinery said Monday, July 26, 2021, it is so intertwined with
its co-defendants that allowing lawsuits to go forward against them
would distract its management from more pressing tasks. Even if the
refinery isn't involved in the proceedings, it would be affected by
any liability findings, according to its filing in the U.S.
Bankruptcy Court in Houston.

                     About Limetree Bay Refining  

Limetree Bay Energy is a large-scale energy complex strategically
located in St. Croix, U.S. Virgin Islands.  The complex consists of
Limetree Bay Refining, a refinery with peak processing capacity of
650 thousand barrels of petroleum feedstock per day, and Limetree
Bay Terminal, a 34-million-barrel crude and petroleum products
storage and marine terminal facility serving the refinery and
third-party customers.

Limetree Bay Refining, LLC, restarted operations in February 2021,
and is capable of processing around 200,000 barrels per day.  Key
restart work at the site began in 2018, including the 62,000
barrels per day modern, delayed Coker unit, extensive
desulfurization capacity, and a reformer unit to produce clean,
low-sulfur transportation fuels.  The restart project provided much
needed economic development in the U.S.V.I. and created more than
4,000 construction jobs at its peak.

Limetree Bay Refining, LLC and its affiliates sought Chapter 11
protection on July 12, 2021.  The lead case is In re Limetree Bay
Services, LLC (Bankr. S.D. Tex. Case No. 21-32351).  

Limetree Bay Terminals, LLC did not file for bankruptcy.

In the petitions signed by Mark Shapiro, chief restructuring
officer, Limetree Bay Services disclosed up to $10 million in
assets and up to $50,000 in liabilities.  Limetree Bay Refining,
LLC, estimated up to $10 billion in assets and up to $1 billion in
liabilities.

Baker Hostetler is acting as legal counsel for the Company and B.
Riley Financial Inc. has been retained as restructuring advisor.

405 Sentinel, LLC, serves as administrative and collateral agent
for the DIP Lenders.


LLADRO GALLERIES: Court Confirms Sale Plan
------------------------------------------
Judge Shelley C. Chapman has entered an order confirming the First
Amended Plan of Reorganization of Lladro Galleries, Inc.

The Debtor has solicited holders in all classes to vote with
respect to the Plan.  On July 21, 2021, the Debtor filed the
Certification of Counsel With Respect to Solicitation and
Tabulation of Votes with Respect to the First Amended Plan of
Reorganization certifying that three creditors voted in Class 2 to
accept the Plan and no creditors have otherwise cast ballots.

The Debtor is authorized to distribute to the Class 1 (priority
claims) and Class 2 (non-insider unsecured claims) distributions
under the Plan directly to the holders of Class 1 and 2 claims.

The Debtor intends to implement the Plan by distributing the sale
cash proceeds on hand.  The source of payment will be the sale
proceeds and will not be dependent on any future operations.

The Plan proposes to pay creditors as follows:

   * Priority Claims: Estimated Return 31%
   * Secured Creditors: [No secured debt]
   * Unsecured Creditors – Non-Affiliates: Estimated Return


LYONS DEVELOPMENT: Seeks to Hire Rehan N. Khawaja as Legal Counsel
------------------------------------------------------------------
Lyons Development Enterprises, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire the
Bankruptcy Law Offices of Rehan N. Khawaja to serve as legal
counsel in its Chapter 11 case.

The firm's services include:

     (a) advising the Debtor concerning the operation of its
business in compliance with Chapter 11 and order of the court;

     (b) prosecuting and defending any causes of action on behalf
of the Debtor;

     (c) preparing and filing legal documents;

    (d) assisting in the formulation of a plan of reorganization
and preparation of a disclosure statement; and

    (e) providing all other services of a legal nature.

The firm will be paid at an hourly rate of $375 for the services of
its attorneys.

The Debtor paid $7,500 to the law firm as a retainer fee.

Rehan Khawaja, Esq., the firm's attorney who will be providing the
services, 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:

     Rehan N. Khawaja, Esq.
     Bankruptcy Law Offices of Rehan N. Khawaja
     817 North Main Street
     Jacksonville, FL 32202
     Phone: (904) 355-8055
     Fax:(904) 355-8058
     Email: khawaja@fla-bankruptcy.com

                      About Lyons Development

Lyons Development Enterprises, LLC filed a Chapter 11 petition
(Bankr. M.D. Fla. Case No. 21-01797) on July 22, 2021.  At the time
of the filing, the Debtor had between $100,000 and $500,000 in both
assets and liabilities. Willie F. Lyons, chief executive officer,
signed the petition.  Rehan N. Khawaja, Esq., at Bankruptcy Law
Offices of Rehan N. Khawaja, serves as the Debtor's legal counsel.


MAIN STREET INVESTMENTS II: Files Plan to Settle $2.5M CCDFI Note
-----------------------------------------------------------------
Main Street Investments II, LLC filed with the Bankruptcy Court a
Chapter 11 Plan of Reorganization and accompanying Disclosure
Statement dated July 23, 2021.  The Plan proposed by the Debtor is
a reorganization and repayment plan for creditors' claims.  The
Debtor filed the bankruptcy case to stay foreclosure of its
property and to allow for the reorganization of its debts through
Chapter 11.

In December 2016, the Debtor executed a Promissory Note/Deed of
Trust for $2,570,405 secured by its commercial real estate, 80 E.
California Street, Las Vegas, NV 89104, with Clearinghouse
Community Development Financial Institution (CCDFI).  The Debtor is
a party in a lawsuit that arose from CCDFI not paying the
contractor who completed work on the Debtor's project in which
CCDFI was lender (Nevada District Court Case No. A-19-807186-C Main
Street Investments II, LLC, Plaintiff vs. Clearinghouse Community
Development Financial Institution, Defendant).

The parties reached a settlement in March 2020, which was executed
in August 2020 where CCDFI and the Debtor agreed that $2,200,000
was the amount to resolve the claims.  Ultimately, CCDFI did not
agree to extend time for payment when litigation by junior lender
interfered with the planned settlement.  The Debtor presented
Letters of Commitment from its lenders but CCDFI decided to proceed
with foreclosure.

The Debtor will seek dismissal of the bankruptcy after the Notes
held by CCDFI are purchased by the new note holder.  Unsecured
creditors will be able to assert claim upon dismissal of the case.

Classes of Claims in the Plan

   * Class 1 Unsecured Claims

  Unsecured Claims will be addressed after dismissal of the
bankruptcy.

   * Class 2A - 80 E. California Street, Las Vegas, NV 89104

Third party asset-based lender will provide financing to purchase
CCDFI's Notes for $2,000,000, which amount is close to the amount
agreed upon to be paid by the Debtor to CCDFI in previous
settlement discussions.  

CCDFI filed a secured proof of claim for $2,523,371 at a fixed
annual rate of 7%.  The original promissory note was for
$2,570,405. CCDFI has Note/Deed of Trust against 1319 S. Main
Street, Las Vegas, NV 89104 for $892,343 (Main Street Investment
III, LLC).  Purchase of Notes by new entity will cover the
outstanding secured notes on these two properties.

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

Counsel for the Debtor:

   Corey B. Beck, Esq.
   The Law Office of Corey B. Beck, P.C.
   425 South Sixth Street
   Las Vegas, NV 89101
   Telephone: (702) 678-1999
   Facsimile: (702) 678-6788
   Email: Becksbk@yahoo.com

                 About Main Street Investments II

Main Street Investments II, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case
No. 21-10361) on Jan. 27, 2021.  At the time of the filing, the
Debtor disclosed assets of between $1 million and $10 million and
liabilities of the same range.  Judge Natalie M. Cox oversees the
case.  The Law Office of Corey B. Beck, P.C. serves as the Debtor's
legal counsel.


MURRAY ENERGY: CEO Death Ends Lawyer Deal Confidentiality Suit
--------------------------------------------------------------
Martina Barash of Bloomberg Law reports that a West Virginia law
firm no longer faces claims that it breached the confidentiality of
a settlement deal between two of its clients and Murray Energy
Corp. over allegations of sexual harassment, a federal court in
Ohio said Tuesday, July 20, 2021.

No one has stepped into the shoes of the bankrupt company's
deceased former CEO, Robert E. Murray, who was the sole remaining
plaintiff in the lawsuit against Cassidy, Cogan, Shapell & Voegelin
LC, Judge Edmund A. Sargus Jr. said for the U.S. District Court for
the Southern District of Ohio.

Cassidy Cogan represented Denise Zombotti and Denise Jackson in
their lawsuits.

                         About Murray Energy

Headquartered in St. Clairsville, Ohio, Murray Energy --
http://murrayenergycorp.com/-- is the largest privately owned coal
company in the United States, producing approximately 76 million
tons of high quality bituminous coal each year, and employing
nearly 7,000 people in the United States, Colombia and South
America.

Murray Energy now operates 15 active mines in five regions in the
United States, plus two mines in Colombia, South America. It
operates 12 underground longwall mining systems, 42 continuous
mining units, 10 transloading facilities, and five mining equipment
factory and fabrication facilities.

Murray Energy and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Ohio Lead Case No. 19-56885) on
Oct. 29, 2019.

At the time of the filing, the Debtors were estimated to have
assets of between $1 billion and $10 billion and liabilities of the
same range.

The cases have been assigned to Judge John E. Hoffman Jr.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel; Dinsmore & Shohl
LLP as local counsel; Evercore Group L.L.C. as investment banker;
Alvarez and Marsal L.L.C. as financial advisor; and Prime Clerk LLC
as notice and claims agent.

The U.S. Trustee for Region 9 appointed creditors to serve on the
official committee of unsecured creditors on Nov. 7, 2019.


MW HEALTHCARE: Fitch Assigns 'BB' IDR, Outlook Negative
--------------------------------------------------------
Fitch Ratings has assigned a 'BB' Issuer Default Rating (IDR) to MW
Healthcare, Inc. (Mary Wade or MW) and affirmed the 'BB' rating on
approximately $46 million in revenue bonds, series A-1 and A-2,
issued by State of Connecticut Health and Educational Facilities
Authority on behalf of MW.

The Rating Outlook is Negative.

SECURITY

The bonds are secured by a gross revenue pledge of the obligated
group (OG), first mortgage and security interest in all assets of
the OG and a debt service reserve fund (DSRF).

ANALYTICAL CONCLUSION

The Negative Outlook primarily reflects ongoing pandemic-related
pressures on MW's operating and financial profiles in fiscal 2020
and fiscal 2021. Fitch believes MW's high exposure to skilled
nursing revenues, adult day care revenues, and government payors
leaves it highly susceptible to prolonged disruptions to census
and/or revenues as a result of the pandemic. Furthermore, MW is
underway on a capital expansion project that entails constructing a
75,000-sf building with 64 new assisted living units (ALUs) and 20
new memory care units (MCUs), which are both new service lines.

While MW is not tested on its maximum annual debt service (MADS)
until fiscal 2023, revenues from the project are needed to meet its
rate covenant, therefore any lingering pandemic pressures that
impacts its ability to adequately fill units would pressure the
rating which is reflected in the maintenance of the Negative
Outlook. However, despite the pandemic related pressures, the
affirmation of the 'BB' reflects MW's strong historical demand
indicators, its improving liquidity position, and the receipt of
approximately $3.6 million in Paycheck Protection Program (PPP)
loans that are expected to offset short-term pandemic pressures and
further boost its already solid unrestricted reserves.

KEY RATING DRIVERS

Revenue Defensibility: 'bb'

Solid Historical Demand; Very Limited Pricing Flexibility

MW's revenue defensibility is assessed at 'bb' reflecting its
strong historical demand indicators, coupled with its limited
pricing flexibility due to its high exposure to governmental payors
and a weak unit mix. MW's long operating history and favorable
local reputation for quality care and services has supported strong
census across both its service lines historically.

While MW has experienced census softening over the last 12 months
like most senior living providers, Fitch expects census to
gradually improve back to historical levels as restrictions on
campus are lifted and traditional marketing channels return. Given
its current unit mix and service offerings, a high portion of MW's
revenues are derived from governmental payors, which leaves it
susceptible to programmatic modifications or reimbursement changes,
and severely limits the organization's pricing flexibility.

Operating Risk: 'bb'

Operations Pressured by Pandemic; Elevated Debt Burden

MW's operating risk is assessed at 'bb' reflecting coronavirus
related pressures on operations, its elevated debt burden, and the
ongoing execution risks associated with its expansion project. Due
to elevated expenses related to its project and coronavirus related
disruptions to census, MW reported a weak 104.7% operating ratio
and negative 4.2% net operating margin (NOM) in fiscal 2020.
Additionally, MW maintains high exposure to skilled nursing
facilities (SNFs) and Medicaid revenues, which Fitch views as an
asymmetric risk to MW's operating risk profile that is reflected in
the 'bb' assessment.

MW's resident service revenues are heavily concentrated in its SNF,
which accounted for a high 83% of total fiscal 2020 SNF revenues.
Additionally, Medicaid comprised a high 51% of net SNF revenues in
fiscal 2020. MW's high concentration to SNF revenues leaves it
susceptible to ongoing changes in the SNF landscape, particularly
during the pandemic, as well as governmental payor reimbursement
for this service line.

However, Fitch notes that MW's new expansion project will add 64
new ALUs and 20 new MCUs to its campus which should be accretive to
its operating profile, including stronger core operations, more
diversified service offerings, and improved payor mix with higher
exposure to private pay residents.

Financial Profile: 'bb'

Solid Financial Profile Despite Pandemic Pressures

In context of its 'bb' revenue defensibility and operating risk
assessments, MW's financial profile is assessed at 'bb' reflecting
its strong liquidity position and the expectation for adequate debt
service coverage levels following completion of its capital
project. At the six-month interim period, MW improved its
unrestricted cash and investments to $23.7 million, which
translates into 587 days cash on hand (DCOH), 58.6% cash to
adjusted debt, and 8.2x cushion ratio. Additionally, MW received
approximately $3.6 million in PPP loans over the last 15 months
that are expected to be forgiven per management and will
significantly boost their unrestricted reserves and provide
additional financial cushion to absorb lingering pandemic
pressures.

ASYMMETRIC ADDITIONAL RISK CONSIDERATIONS

No asymmetric risk factors were applied in this rating
determination.

RATING SENSITIVITIES

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

-- Improvement and maintenance of census to historical levels
    across both service lines, coupled with project filling as
    originally expected may result in a revision in the Outlook to
    Stable.

-- Successful execution of its expansion project that leads to
    improved operations of below 95% operating ratio, greater than
    13% NOM, and coverage near 2.0x, coupled with a revision in
    its revenue defensibility or operating risk assessments to
    'bbb' would be necessary for any upward rating movement.

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

-- Any significant project execution issues such as additional
    construction delays or a slow fill-up that negatively impacts
    MW's operating or financial profiles or impacts its ability to
    meet its rate covenant;

-- Prolonged weak census levels or slow recovery of census to
    historical levels that results in weaker operational
    performance and/or deterioration in unrestricted cash
    reserves.

BEST/WORST CASE RATING SCENARIO

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

CREDIT PROFILE

Mary Wade has a long operating history, which dates back to 1866,
when it was founded to provide shelter to homeless and needy young
women and children. At the beginning of the 20th century, MW's
services shifted to focus more on elderly care. Today, MW's
operations primarily consist of a 45-bed residential care home, a
94-bed SNF (with 20 beds dedicated to short-term rehab), and an
adult day care center. All three services are provided by The Mary
Wade Home (MWH). MWH, along with MW Healthcare, the parent company
of MWH and all affiliated entities, and Mary Wade Residence, the
company created to operate its new ALU/MCU facility, comprise the
OG.

Mary Wade's other affiliated entities are all located outside the
OG and consist of MWH Holding, Fair Haven Properties, and Mary Wade
at Home. Both MWH Holding and Fair Haven Properties were
established to acquire and own properties, while Mary Wade at Home
was established to provide companion and personal assistance, but
hasn't been operational since 2018. Fitch analysis is based upon
consolidated financial statements. In fiscal 2020, the OG comprised
99.5% of consolidated assets and 99.7% of consolidated revenues.
Total operating revenues of MW were $14.4 million in fiscal 2020.

REVENUE DEFENSIBILITY

MW's long-operating history, strong local reputation, and minimal
competition for certain service lines have driven strong historical
demand. In fiscal 2019, MW averaged a strong 97% in its residential
care home units (RCHUs) and 95% in its SNF beds. However, despite
its strong census historically, MW has experienced softening census
over the last 12 months as a result of pandemic related
disruptions. At the six-month interim period (ending March 31,
2021), MW averaged 86% in its RCHUs and 78% in its SNF beds.

While Fitch expects lingering coronavirus disruptions to continue
to impact census, with vaccination rates increasing, campus
restrictions slowly being lifted, and traditional marketing
channels returning, Fitch anticipates MW will slowly improve its
census near historical levels by 2022. Additionally, MW is underway
on an expansion project that will add 64 new ALUs and 20 new MCUs
to its campus in September 2021. Currently, 10 of the 84 units
(12%) of the new units are pre-sold. MW management expects
stabilized occupancy (90%) on the project by May 2022.

While MW has some competition for SNF services, Fitch believes its
strong local reputation and long-operating history should continue
to support solid demand in a post pandemic environment.
Additionally, MW has limited competition for its RCHUs, which are
primarily funded via the State of Connecticut OAA program. RCHU
services are similar to personal or low acuity assisted living
programs. MW's service area demonstrates mixed demographic trends
that should continue to support demand, but will likely continue to
keep exposure to Medicaid somewhat elevated.

MW has a solid history of private pay rate increases that have
ranged between 2%-5% in recent years. However, MW's current unit
composition, which is highly exposed to SNF and RCHU revenues,
severely limited MW's overall pricing flexibility. MW's fiscal 2020
resident service revenues are comprised of 83% SNF revenues and 17%
RCHU revenues. In fiscal 2020, the payor mix in MW's SNF was
comprised of 51% Medicaid and 31% Medicare, while its RCHUs are
approximately 90% funded by the State of Connecticut's Old Age
Assistance fund.

MW's high exposure to government payors leaves it susceptible to
governmental reimbursement or programmatic changes and affords the
organization little to no price flexibility, which is reflected in
its 'bb' revenue defensibility assessment. However, Fitch notes
that MW's expansion projects will add 84 new units (64 ALUs/20
MCUs) that will be private pay, which should increase the
organization's pricing flexibility over time and reduce its
reliance on governmental payors.

OPERATING RISK

MW has no exposure independent living units (ILUs) or ILU residency
contracts. MW currently has 45 RCHUs and 94 SNF beds and is
expected to add 64 new ALUs and 20 MCUs following completion of its
expansion project.

MW's strong historical census levels and good expense management
practices have translated into solid operational performance
historically. From fiscal years 2017-2019, MW averaged a 97.3%
operating ratio and 4.3% NOM. However, due to increased expenses
related to its expansion project and disruptions to census as
result of the pandemic, MW has seen its core operations decline
over the last 18 months. In fiscal 2020, MW had a 104.7% operating
ratio and negative 4.2% NOM, which declined further in the
six-month interim period (ending March 31, 2021) to 108.3%
operating ratio and negative 8.4% NOM.

While Fitch expects improvement in the second half of fiscal 2021
due to vaccination rates increasing, restrictions being lifted off
campus, and some of its new units coming online, it anticipates
MW's operations and overall operating profile will continue to be
impacted by the pandemic due to its heavy concentration to SNF
revenues which accounted for approximately 83% of all resident
revenues in fiscal 2020. However, MW has received approximately
$3.6 million in PPP loans that are expected to be forgiven and
should offset lingering pandemic pressures on operations until its
new units are filled and stabilized.

MW's capex levels have been elevated in recent years primarily
reflecting the capital outlays associated with its ongoing
expansion project. MW's capex levels have averaged $4.2 million
over the last three fiscal years, or 552% of depreciation, which
translates into 16.7 years average age of plant in fiscal 2020.
MW's average age of plant is expected to decline significantly over
the next couple years after it completes its expansion project. The
project entails building a new 75,000sq building located across the
street from its current campus. The building will have 64 new ALUs,
20 MCUs, as well as some common area and parking space. Project
construction began in August 2019 and is expected to be completed
in September 2021, which is approximately 3 months behind schedule.
The project experienced some minor construction delays due to
coronavirus related disruptions; however, the project remains on
budget. The entire project is expected to cost $30 million and is
being funded entirely by series 2019 bond proceeds. Following
project completion, MW's capex levels are expected to decline to
$300-$400 thousand per year which should be funded via operating
cash flow and unrestricted reserves.

MW's debt burden remains very elevated as evidenced by MADS
equating to a high 19.2% of fiscal 2020 revenues. Additionally,
debt to net available and revenue-only MADS coverage measured a
weak 74.8x and 0.2x, respectively, in fiscal 2020. While weak, MW's
debt burden is expected to moderate significantly in the coming
years following completion and stabilization of its expansion
project. The project is expected to be accretive to its operating
and financial profiles, and the additional revenues and cash flow
generated should significantly improve all three of MW's capital
related metrics.

FINANCIAL PROFILE

MW improved its unrestricted reserves to $23.7 million at the
six-month interim period, which is approximately 9% higher than
fiscal 2019 levels, and translates into a strong 587 DCOH, 58.6%
cash to adjusted debt, and 8.2x cushion ratio. Fitch's calculation
of MW's cash to adjusted debt includes its $4.4 million DSRF, but
excludes its $3.6 million PPP loans that were not yet forgiven
during the six-month interim period. However, Fitch notes that MW's
first $1.8 million PPP loan was recently forgiven. MW's PPP loans
are expected to significantly boost its cash reserves and provide
additional financial cushion to absorb pandemic related disruptions
on operations.

With the receipt of $3.6 million in PPP loans and completion and
stabilization of its ongoing expansion project, Fitch believes MW
has enough financial flexibility at its current rating level to
absorb lingering pandemic pressures and improve its operating and
financial profiles over the medium term which is reflected in the
affirmation of the 'BB' ratings. Fitch's stressed scenario
incorporates an investment portfolio and cash flow stress that are
in line with current economic conditions and expectations. MW's
investment portfolio stress was somewhat high for a single-site
senior living provider given its somewhat aggressive, but
diversified investment portfolio.

Fitch expects MW's capital outlays to return to below 100% of
depreciation following completion of its expansion project later
this year. Fitch assumes all MW's $3.6 million in PPP loans get
forgiven and are recorded as revenue during fiscal years 2021,
2022. Additionally, Fitch expects MW will successfully execute its
project near initial fill expectations and that revenue will
outpace expenses over the medium reflecting improved census and new
revenues generated from the project. Under these assumptions, MW's
key leverage and coverage metrics steadily improve and remain
consistent with its 'bb' financial profile assessment.

ASYMMETRIC ADDITIONAL RISK CONSIDERATIONS

No asymmetric risk factors were applied in this rating
determination.

Debt Profile

The $46 million in series 2019 bonds remains MW's only outstanding
long-term debt. The bonds are fixed-rate, have a MADS of
approximately $2.9 million, and a final maturity of 2054. MW has no
exposure to derivative instruments, a pension liability, or a
future service obligation.

ESG CONSIDERATIONS

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


MY FL MANAGEMENT: Resolves Plan Dispute With Lender A&D
-------------------------------------------------------
My FL Management, LLC, submitted an Amended Disclosure Statement
explaining its Chapter 11 Plan.

The Court will convene a hearing on the Plan on Aug. 31, 2021 at
9:30 a.m. at the U.S. Courthouse, 299 E Broward Blvd #308, Ft
Lauderdale, FL 33301.  Ballots must be received by 4:00 p.m. EDT on
Aug. 17, 2021, or it will not be counted.  Objections to the
Disclosure Statement or to confirmation of the Plan must be filed
with the Bankruptcy Court and properly served upon parties by
August 17, 2021.

The Debtor amended the Plan to, among other things, provide that
the Class 1 secured claim of secured lender A&D Mortgage, LLC is
impaired, and its dispute with respect to the claim has been
resolved.  The prior iteration of the Plan rendered the claim
unimpaired.  Under the new Plan, the Debtor will pay:

   A. The Principal Amount after deceleration of the Note and
reinstating same by making
monthly payments as set forth in the Note as if no default had
occurred in the amount
of $69,201.70 until the Note's maturity date. There shall be no
prepayment penalty
of any kind.

   B. Past Due Payments in the amount of $692,017 pursuant to that
certain settlement agreement between the Debtor and A&D (ECF #__),
shall be paid over a five- year period and carrying an interest
rate of 5.75% APR. Commencing on the Effective Date, the Debtor
will pay a total amount of $13,298.33 per month to A&D.  There
shall be no prepayment penalty of any kind.

   C. The Cure Amount, totaling $660,000 pursuant to that certain
settlement agreement between the Debtor and A&D (ECF #__) (the
"Settlement Agreement"), shall be paid over a five year period and
carrying an interest rate of 5.75% APR.  Commencing on the
Effective Date, the Debtor will pay a total amount of $12,683.07
per month to A&D.  There shall be no prepayment penalty of any
kind.

Class 2 General Unsecured Claims (unsecured claims each exceeding
$2,000) will receive payment of 100% of their claims over a 5-year
period with equal monthly installment payments. Debtor estimates
Class 2 Claims in the estimated amount of $694,930.33 and monthly
payments of $11,582.17 to be paid pro rata to all Class 2
creditors.  The Debtor shall be allowed to prepay any amount due to
unsecured creditors at any time without penalty. Class 2 is
impaired.

Class 3 General Unsecured Claims in the amount of $2,000 or less
will receive on the Effective Date, payment of their claims in
full. Class 3 is impaired.

The Debtor will fund payments to be made under the Plan through the
following: Cash on hand on and after the Effective Date until all
Allowed Claims are paid in full.

Counsel for the Debtor:

     Brett D. Lieberman
     Florida Bar No. 69583
     Edan Weiner
     Florida Bar No. 1019408
     EDELBOIM LIEBERMAN
     REVAH OSHINSKY PLLC
     20200 W. Dixie Highway, Suite 905
     Aventura, Florida 33180
     Telephone No. 305.768.9909
     Facsimile No. 305.928.1114
     Email: brett@elrolaw.com

A copy of the Disclosure Statement dated July 21, 2021, is
available at https://bit.ly/3iCVPbK from PacerMonitor.com.

                       About My FL Management

MY FL Management LLC owns Royal Beach Palace, a hotel located in
the residential Lauderdale-by-the-Sea.

Fort Lauderdale, Fla.-based MY FL Management sought Chapter 11
protection (Bankr. S.D. Fla. Case No. 21-11028) on Feb. 2, 2021.
Yuri Gnesin, manager, signed the petition.  In the petition, the
Debtor disclosed assets of between $1 million and $10 million and
liabilities of the same range.

Judge Scott M. Grossman oversees the case.

The Debtor tapped Edelboim Lieberman Revah Oshinsky, PLLC as its
legal counsel and Karlinsky & Golub CPAs, PLLC as its accountant.


NATIONAL SMALL BUSINESS: Plan to be Funded by Business Income
-------------------------------------------------------------
National Small Business Alliance, Inc., filed with the U.S.
Bankruptcy Court for the District of Columbia a Disclosure
Statement for Small Business Chapter 11.

The COVID-19 pandemic created significant challenges for the
Debtor. The loss of revenues caused by the pandemic combined with
the actual and threatened cost of multiple litigation by The Motiva
Group forced the Debtor to commence this small business bankruptcy
case under Chapter 11 (Subchapter V) of the Bankruptcy Code on
January 31, 2021 in order to address all of the claims of its
disparate creditors in one uniform proceeding and to reorganize in
this Honorable Court.

Class 2 consists of the Secured Claim of the Rainaldi parties. The
Debtor will pay 75% of all plan payments, after allowance for the
payment of allowed administrative expenses, to the claim of the
Rainaldi parties until retired in full. It is projected that this
will amount to $201,770.72 over the life of the Plan.

Class 3 consists of the Allowed non-priority unsecured claims
excepting the non priority unsecured claim of the Rainaldi Parties
arising from their settlement agreement approved by this Honorable
Court, and also excepting the claim of The Motiva Group, Inc. for
punitive damages and interest accrued on a state court judgment.

The Debtor will pay 25% of all plan payments, after allowance for
the payment of allowed administrative expenses, to the holders of
allowed non-priority general unsecured claims. Once allowed secured
claims are paid in full, 100% of all Plan payments, after allowance
for the payment of allowed administrative expenses, will be paid to
the holders of allowed non-priority general unsecured claims. It is
projected this will amount to the following payments, to the
following claim holders, over the life of the Plan: (i) The Motiva
Group, Inc. - $66,599.20; (ii) Ken Bethel - $20,631.50; (iii) Jim
Connelly - $30,947.26; (iv) Jennifer Bethel - $10,315.75; (v)
Thomas J. Kelly - $20,631.50; and (vi) Lisa Johnson - $10,315.75.

Class 4 consists of the claim of The Motiva Group, Inc. for
punitive damages and interest accrued on a state default court
judgment. It is not anticipated there will be any money to pay the
claim of The Motiva Group, Inc. for punitive damages and interest
accrued on a state court judgment.

Class 5 consists of the non-priority unsecured claim of the
Rainaldi Parties arising from their settlement agreement approved
by this Honorable Court. It is not anticipated there will be any
money to pay the non-priority unsecured claim of the Rainaldi
Parties arising from their settlement agreement approved by this
Honorable Court.

Michael Holleran shall retain his ownership interest as the
Debtor's 100% stockholder post-confirmation.

The Debtor's financial projections show that the Debtor will have
projected disposable income to meet its obligations under the
Plan.

A full-text copy of the Disclosure Statement dated July 25, 2021,
is available at https://bit.ly/3BQCtZF from PacerMonitor.com at no
charge.  

Counsel for Debtor:

     Eric Nwaubani
     Law Group International Chartered
     1629 K Street, NW #300
     Washington, DC 20006
     Telephone: (202) 446 8050
     Email: enwaubani391@gmail.com

              About National Small Business Alliance

National Small Business Alliance, Inc. --
http://www.nsbamembers.org-- is a small business owners'
membership association that provides a variety of critical services
to thousands of small businesses.

National Small Business Alliance sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D.D.C. Case No. 21-00031) on Jan.
31, 2021. Michael Holleran, director and chief executive officer,
signed the petition. At the time of the filing, the Debtor
disclosed $1 million to $10 million in both assets and liabilities.
Judge Elizabeth L. Gunn oversees the case.

Law Group International Chartered, led by Eric Nwaubani, Esq.,
serves as the Debtor's legal counsel.

Marc Albert is the Chapter 11 trustee appointed in the Debtor's
bankruptcy case.  The trustee is represented by Stinson, LLP.  

Venture Resources Consulting, LLC, as creditor, is represented by:

     Maurice B. VerStandig, Esq.
     The VerStandig Law Firm, LLC
     1452 W. Horizon Ridge Pkwy, #665
     Henderson, NV 89012
     Tel: (301) 444-4600
     Fax: (301) 444-4600
     E-mail: mac@mbvesq.com

Marc Albert, as Subchapter V Trustee, is represented by:

     Marc E. Albert, Esq.
     Stinson LLP
     1775 Pennsylvania Avenue NW, Suite 800
     Washington, DC 20006
     E-mail: marc.albert@stinson.com


NEWREZ LLC: District Court Reverses Bankruptcy Court Sanction Order
-------------------------------------------------------------------
Landon Van Winkle of Smith Debnam Narron Drake Saintsing & Myers,
LLP wrote an article on JDSupra titled "District Court Reverses
Bankruptcy Court Order Imposing Sanctions on Mortgage Servicer."

The U.S. District Court for the Eastern District of North Carolina
recently reversed an order of the U.S. Bankruptcy Court for the
Eastern District of North Carolina. The bankruptcy court order held
mortgage servicer Newrez, LLC (“Newrez”) and the holder of the
mortgage note at issue in civil contempt for failing to abide by
the terms of the individual debtors’ confirmed chapter 11 plan
(the "Plan"). Newrez, LLC v. Beckhart, No. 7:20-cv-00192-BO, 2021
U.S. Dist. LEXIS 125293, at *1 (E.D.N.C. July 6, 2021). The
district court found that the nebulous terms of the Plan, coupled
with Newrez’s good faith reliance on the advice of counsel in
interpreting those terms, was sufficient to establish that Newrez
had an objectively reasonable basis for its conduct, thus
insulating it from civil contempt sanctions under the rule
established in Taggart v. Lorenzen, 139 S. Ct. 1795 (2019). The
court’s reversal emphasizes the benefits to a creditor of
securing legal advice when the bankruptcy court orders governing
the creditor’s claim are unclear.

The controversy centered around the Plan’s treatment of Newrez's
secured claim. When the debtors filed their voluntary chapter 11
case in 2009, they owned a beach house subject to a mortgage with a
prepetition arrearage in excess of $22,000, arising from ten months
of missed payments. The Plan made no provision for the repayment of
the prepetition arrearage or for the post-petition payments that
came due prior to confirmation. It was confirmed over the objection
of Newrez's predecessor in late 2010, and the debtors began making
payments under the Plan around the same time. Newrez began
servicing the mortgage in 2014 and treated the loan as if it were
in default from that time through 2019, based on the significant
uncured arrearage. The debtors repeatedly contended that the loan
was current based on the terms of the Plan, and challenged
Newrez’s determination that it was in default.

In January 2020, the debtors filed a motion in the bankruptcy court
seeking to have Newrez and the holder of the loan held in civil
contempt for failing to comply with the terms of the Plan and
sought significant sanctions. Following an evidentiary hearing, the
bankruptcy court entered an order finding Newrez and the holder in
civil contempt and assessing monetary sanctions in excess of
$110,000, consisting largely of lost wages, a loss of a fresh
start, and attorneys' fees. Newrez appealed, and the district court
reversed.

In analyzing the bankruptcy court's order, the district court
recited the standard for civil contempt clarified by the Supreme
Court in Taggart: A creditor may be held in civil contempt for
violation of a bankruptcy court's order if there is no "fair ground
of doubt as to whether the order barred the creditor's conduct."
Taggart, 139 S. Ct. at 1799. Thus, civil contempt is appropriate
only where there is "no objectively reasonable basis for concluding
that the creditor's conduct might be lawful." Id.

In holding that there was a fair ground of doubt as to whether the
Plan required Newrez to treat the mortgage as current and not in
default, the Court focused on the multiple questions the Plan left
unanswered regarding the mortgage:

Nothing in the confirmation order expressly addressed what amount
[the debtors] would owe on loan as of November 25, 2010, or how the
$22,836.40 in pre-petition arrearage would be repaid if at all.
Although the order set a due date for the first payment, it offered
no guidance on how much that payment would be.

Beckhart, 2020 U.S. Dist. LEXIS 125293, at *7. Further, the court
observed that the Plan's terms created additional confusion because
the Plan purported to leave the rights of the holder of the
mortgage unmodified except as expressly provided in the Plan, but
the Plan did not expressly provide for any treatment of the
arrearage or post-petition payments. Id.  Similarly, the court
found that because Newrez had repeatedly sought and relied upon the
advice of outside counsel in conducting itself under the Plan, it
had an objectively reasonable basis to believe that its conduct was
lawful. Id. at *8-9 (citing Waller v. Sprint Mid Atl. Tel., 77 F.
Supp. 2d 716, 722 (E.D.N.C. 1999)). It also found that the same
reliance on outside counsel made clear that Newrez had acted in
good faith in adopting a reading of the Plan “that seemed
consistent with the contractual terms of the loan." Id. at *8.
Because Newrez established both that there was a fair ground of
doubt as to whether the Plan prohibited its conduct, and because it
had an objectively reasonable basis for acting as it did, the court
concluded that the bankruptcy court’s order finding it in
contempt “falls far short of the standard required for a finding
of civil contempt," and reversed the order and remanded the matter
to the bankruptcy court for further proceedings.

Beckhart showcases the dual benefits to a creditor in seeking
competent legal advice where there is any question about the
interpretation or effect of bankruptcy court orders on the
creditor's claims. First, relying on the advice of counsel can help
establish that a creditor was acting in good faith, which is
significant since Taggart did not foreclose the permissibility of
holding a creditor in contempt when it acts in bad faith. See
Taggart, 139 S. Ct. at 1802 ("Our cases suggest, for example, that
civil contempt sanctions may be warranted when a party acts in bad
faith."). Second, acting on the good faith advice of counsel can
supply the creditor with an objectively reasonable basis for
concluding that its conduct is permitted under the order at issue.
This is particularly beneficial where, as in Beckhart, the order is
unclear and subject to multiple reasonable interpretations.

                          About Newrez LLC

NewRez LLC  provides mortgage loan servicing for institutional
clients investing in portfolios of non-performing, re-performing
and sub-performing residential mortgage loans.


NEXTPLAY TECHNOLOGIES: Closes Acquisition of IFEB
-------------------------------------------------
NextPlay Technologies, Inc. has closed its previously announced
acquisition of International Financial Enterprise Bank (IFEB), a
global financial institution headquartered in San Juan, Puerto
Rico.

The Company has increased its previously disclosed intended stake
in IFEB, and formally closed the acquisition of 100% of the Bank as
of July 21st after receiving previously reported formal regulatory
approval from the Office of the Commissioner of Financial
Institutions of Puerto Rico (OCIF) for up to 100% ownership.
Additionally, OCIF has granted NextPlay approval to change the
bank's name to NextBank International.

Consideration for the IFEB purchase included a $6.4 million cash
payment made in April 2021, for a 57.1% ownership of IFEB and a
further payment of $4.8 million to acquire the remaining 42.9% of
IFEB, which was paid by way of issuing 1,926,750 shares of
NextPlay's restricted common stock (which is equivalent to US$2.50
per share issued).

IFEB brings NextPlay a full range of Fintech solutions, including
concierge banking, online and mobile banking, credit cards, deposit
and loans and escrow services.  The bank's charter and Fintech
technology allows it to conduct business and serve customers
anywhere in the world.  Its mobile app is available to download for
free from the Apple App Store or Google Play.  Additionally, IFEB
complements NextPlay's Longroot initial coin offering (ICO)
portal.

"The 100% acquisition of IFEB complements our Longroot Initial Coin
Offering (ICO) unit and expands Longroot's capabilities to
potentially include access to cryptocurrency exchanges, online
payments, digital wallet and mobile banking capabilities supporting
the ICO portal with IFEB Fintech banking solutions," commented
NextPlay Co-CEO, Bill Kerby who further stated, "In addition to
existing customers, revenue and targeted cashflow contributions,
IFEB should strengthen our other business segments by providing
unencumbered and dynamic access to merchant services for gaming,
in-game advertising and travel."

                    About NextPlay Technologies

NextPlay Technologies, Inc. (formerly known as Monaker Group Inc.)
is a technology solutions company offering gaming, in-game
advertising, crypto-banking, connected TV and travel booking
services to consumers and corporations within a growing worldwide
digital ecosystem.  NextPlay's engaging products and services
utilize innovative AdTech, Artificial Intelligence and Fintech
solutions to leverage the strengths and channels of its existing
and acquired technologies.

Monaker Group reported a net loss of $16.51 million for the year
ended Feb. 28, 2021, compared to a net loss of $9.45 million for
the year ended Feb. 29, 2020.  As of May 31, 2021, the Company had
$49.78 million in total assets, $28.20 million in total
liabilities, and $21.58 million in total stockholders' equity.

Sugar Land, Texas-based TPS Thayer, LLC, the Company's auditor
since 2020, issued a "going concern" qualification in its report
dated June 7, 2021, citing that the Company has suffered recurring
losses from operations and has stockholders' deficit that raise
substantial doubt about its ability to continue as a going concern.


OMKAR HOTELS: May Use Cash Collateral Through August 12
-------------------------------------------------------
The Hon. Roberta A Colton of the U.S. Bankruptcy Court for the
Middle District of Florida has granted the request of Omkar Hotels,
Inc. to use cash collateral, on a third interim basis, up until
August 12, 2021.  The Court will hold a hearing that day to
consider the Debtor's request on a final basis.

Omkar Hotels operates a Sleep Inn & Suites located at 6535 Ramona
Blvd., in Jacksonville, Florida.  The Debtor believes it can meet
its near-term cash requirements through the use of cash on hand and
cash collateral generated from the collection of revenues from room
occupancies at the hotel.

As of the Petition Date, parties-in-interest to the cash collateral
assert the following claims against the Debtor: (a) The Cadle
Company for $1,696,197; and (b) the SBA for $1,582,218.  The Debtor
contests the creditors' claims.

The debts may be secured by property owned by the Debtor. The Cadle
Company and the SBA may also have an assignment of rents on said
property, such that the accounts receivables generated by said
property may constitute their cash collateral.  The SBA may assert
a claim junior in priority to that of The Cadle Company, and could
be undersecured on account The Cadle Company's alleged senior
interest.
  
As adequate protection to the creditors, the Debtor proposes to:

   * continue maintaining the Debtor's property by continuing to
pay the normal operating expenses;

   * paying post-petition property taxes with respect to the
collateral;

   * maintaining insurance on the collateral; and

   * maintaining the Petition Date market value of the real
property collateral.

The Debtor emphasized that its ability to maximize the value of its
assets is inextricably tied to maintaining operations on an
uninterrupted basis.  The Debtor said it has not been able to
obtain consent from the creditors on the use of cash collateral and
related that if unable to reach consensual agreements with the
creditors, the Debtor will request permanent use of cash collateral
at the final cash collateral hearing.  

A copy of the motion is available for free at
https://bit.ly/3wj4xkV from PacerMonitor.com.

On June 11, 2021, Judge Colton authorized the Debtor's use of cash
collateral through July 15, 2021 or until further order of the
Court, subject to substantial compliance with the budget.  The
Court then authorized Omkar Hotels to use cash collateral, on a
second interim basis, up until July 26.

The approved budget projected these amounts of cash flow from
operations:

        $31 for June 2021;

    $11,987 for July 2021;

    $12,459 for August 2021; and

    $12,026 for September 2021.

Pending the final hearing, Judge Colton ruled that, as adequate
protection, the Debtor shall provide that:

   * all pre-petition liens of the creditors, if any, shall
continue;

   * the Debtor shall continue to operate and maintain its business
and properties in accordance with the Budget and the Interim
Order;

   * the Debtor shall set aside money monthly toward payment, and
shall pay when due, any post-petition property taxes with respect
to the properties;

   * the Debtor shall maintain property insurance on the properties
collateralizing the creditors' purported secured claims, listing
the first lien creditor as an additional loss-payee and with the
United States Trustee to be added as a notice party in the
insurance policies.

   * any creditor holding an interest in cash collateral is granted
a replacement lien in the Debtor's post-petition cash collateral to
the extent of any post-petition usage of cash collateral during the
interim period and to the same extent, validity, and priority as
such creditors' pre-petition liens, if any, in cash collateral.
Said replacement liens are without waiver of the Debtor's right to
later challenge or seek to avoid the validity of any creditor's
alleged security interest in cash collateral.

The Cadle Company II, Inc. may be served on CT Corporation System,
its registered agent:

   CT Corporation System
   1200 South Pine Island Road
   Plantation, FL 33324

The United States Small Business Administration may be served
through:

   Merrick Garland
   U.S. Attorney General
   U.S. Department of Justice
   950 Pennsylvania Avenue, NW
   Washington, D.C. 20530-0001

                        About Omkar Hotels

Omkar Hotels, Inc. operates a Sleep Inn & Suites located at 6535
Ramona Blvd., in Jacksonville, Florida.  The Debtor filed a
petition under Subchapter V of Chapter 11 of the Bankruptcy Coden
(Bankr. M.D. Fla. Case No. 21-01418) on June 7, 2021.

On the Petition Date, the Debtor estimated between $1 million and
$10 million in both assets and liabilities.  The petition was
signed by Ayesh T. Patel, president.

Stone Baxter, LLP represents the Debtor as counsel.

Jerrett M. McConnell has been appointed as Subchapter V Trustee.


ORIGINCLEAR: Designates 40K Shares as Series V Preferred Stock
--------------------------------------------------------------
OriginClear, Inc. filed a certificate of withdrawal of the
Company's certificate of designation of Series V Preferred Stock,
and filed a certificate of designation for a new series of Series V
Preferred Stock, with the Secretary of State of Nevada.

Pursuant to the Series V COD, the Company designated 40,000 shares
of preferred stock as Series V Preferred Stock.  The Series V
Preferred Stock has a stated value of $500 per share, and will be
entitled to an annual distribution of 25% of annual net profits of
newly established, Company wholly-owned, Water On Demand
subsidiaries, designated by each Holder, paid within 3 months of
subsidiary's accounting year-end.  The Series V Preferred Stock
will not be entitled to any voting rights except as may be required
by applicable law.  The Series V Preferred Stock will be
convertible into common stock of the Company pursuant to the Series
V COD, provided that, the Series V Preferred Stock may not be
converted into common stock to the extent such conversion would
result in the holder beneficially owning more than 4.99% of the
Company's outstanding common stock (which may be increased up to
9.99% upon 61 days' written notice).  The Company will have the
right (but no obligation) to redeem the Series V Preferred Stock at
any time at a redemption price equal to, if paid in cash, the
stated value plus any accrued but unpaid distributions of 25% of
Subsidiary's annual net profits.

                         About OriginClear

Headquartered in Clearwater, Florida, OriginClear --
www.originclear.tech -- is a water technology company which has
developed in-depth capabilities over its 14-year lifespan.  Those
technology capabilities have now been organized under the umbrella
of OriginClear Tech Group.

OriginClear reported net income of $13.26 million for the year
ended Dec. 31, 2020, compared to a net loss of $27.47 million for
the year ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had
$1.33 million in total assets, $24.64 million in total liabilities,
$6.33 million in convertible preferred stock, and a total
shareholders' deficit of $29.65 million.

Houston, Texas-based M&K CPAS, PLLC, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
May 21, 2021, citing that the Company suffered a net loss from
operations and has a net capital deficiency, which raises
substantial doubt about its ability to continue as a going concern.


PARADISE REDEVELOPMENT: Unsecureds to Have 100% Recovery in Plan
----------------------------------------------------------------
Paradise Redevelopment Company, LLC, filed with the U.S. Bankruptcy
Court for the Northern District of California a Combined Plan of
Reorganization and Disclosure Statement.

In 2019, Debtor was created for the purpose of purchasing,
improving, and selling a 4-plex (the "Property") located at 2118
Addison Avenue, East Palo Alto, California. Debtor purchased the
Carmel Property in December 2019 from Miguel Moreno for $1,150,000.
The purchase was financed by a first note and deed of trust in
favor of Rediger Investment Mortgage Fund, and a second note and
deed of trust in favor of Moreno. Both obligations owed to Rediger
and Moreno matured pre-petition.

After purchasing the Property, Debtor discovered that Moreno had
done certain unpermitted work on the Property and failed to
disclose this in connection with the sale to Debtor. Moreno has
denied these allegations. As a consequence, it appears that this
issue may need to be litigated. This Chapter 11 case was prompted
by Moreno's noticing of a trustee's sale of the Property.

Debtor owns a 100% fee interest in the real property and
improvements located at 2118 Addison Avenue, E. Palo Alto,
California. Debtor will sell the Property within 90 days of the
Effective Date of the Plan, paying secured creditors from the
proceeds of the sale.

Debtor will file a motion for approval of any such sale on 28 days
notice to lien holders. Unless the court orders otherwise, a
lienholder whose lien is not in bona fide dispute may credit bid
the amount of its lien at the sale. Any deficiency claim is a
general unsecured claim.

Debtors will not make monthly payments pending the closing of the
sale. Interest on the Class 1A Rediger Investment Mortgage Fund and
1B Miguel Moreno claims shall accrue at the non-default rates
provided for in the promissory notes executed by Debtor. Interest
on the Class 1C San Mateo County Tax Collector claim shall accrue
at the statutory rate of 18% per year.

Creditors in these classes may not repossess or dispose of their
collateral so long as Debtor is not in material default under the
Plan. These secured claims are impaired and are entitled to vote on
confirmation of the Plan.

Allowed claims of general unsecured creditors [not treated as small
claims] (including allowed claims of creditors whose executory
contracts or unexpired leases are being rejected under this Plan)
shall be paid as follows:

     * Pot Plan. Creditors will receive a pro-rata share, likely to
result in a 100% recovery of allowed claims, of a fund
approximating at least $1,700,000, created by sale of the Property.
Pro-rata means the entire amount of the fund divided by the entire
amount owed to creditors with allowed claims in this class. A lump
sum distribution will be made within six months from the Effective
Date of the Plan.

     * Creditors in this class may not take any collection action
against Debtor so long as Debtor is not in material default under
the Plan. This class is impaired and is entitled to vote on
confirmation of the Plan.

Debtor shall retain its current ownership interests, and Juan
Carlos Casas, Debtor's managing member, shall retain his position
as managing member and sole owner, with compensation of $2,500 per
month.

Casas determined that the Property needed certain work—roofing
and painting—and he believed the work could be done for less than
$13,000. Upon completion of the repairs to the Property—expected
to be by late July—the property will be listed for sale.

If the dispute with Moreno cannot be settled, then Debtor expects
to employ special counsel to litigate the matter. If that happens,
then the litigation will likely extend beyond the period of closing
a sale on the Property Accordingly, Debtor expects to file a motion
for sale free and clear of the disputed part of the Moreno
obligation. Debtor estimates the amount of dispute to be $200,000.
This amount of sale proceeds would be held in trust pending
resolution of the dispute.

A full-text copy of the Combined Plan and Disclosure Statement
dated July 26, 2021, is available at https://bit.ly/2Vhw1tC from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Stanley A. Zlotoff, Esq.
     Stanley A. Zlotoff, a Professional Corporation
     300 S. First St. Suite 215
     San Jose, CA 95113
     Telephone: (408) 287-5087
     Facsimile: (408) 287-7645
     Email: zlotofflaw@gmail.com

                 About Paradise Redevelopment Company

San Jose, Calif.-based Paradise Redevelopment Company, LLC, filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Cal. Case No. 21-50596) on April 27, 2021. Juan
Carlos Casas, managing member, signed the petition.

The Debtor owns the 4-plex located at 2118 Addison Avenue, East
Palo Alto, At the time of filing, the Debtor listed up to $50,000
in assets and $1 million to $10 million in liabilities.

Judge Elaine M. Hammond oversees the case.

Stanley A. Zlotoff, Esq., serves as the Debtor's legal counsel.


PETROTEQ ENERGY: Completes Feed Study for 5K Barrel Per Day Plant
-----------------------------------------------------------------
Petroteq Energy Inc. announced that the Front End Engineering and
Design (FEED) Study for a proposed 5,000 barrels of oil per day
production facility employing Petroteq's Clean Oil Recovery
Technology (CORT) process has been completed by Crosstrails
Engineering LLC and is expected to be delivered to Petroteq later
this week.  This FEED encompasses a production train capable of
processing 5,000 bopd from mined oil sands ore.  The Company
anticipates that this FEED can become the starting basis for future
5,000 bopd train designs for use in Utah by Petroteq and
potentially by additional licensees in Utah, the US, and other
locations worldwide.  This "standard" design may need some
customization for local site conditions and ore characteristics,
but differences are expected to be minor.  Third party
certification of this "standard" CORT process train is also
expected shortly.

TomCo Energy plc announced on July 27, 2021 that Greenfield Energy
LLC, Tomco's 50/50 joint venture with Valkor LLC, has now received
the finalized FEED study for production facilities using the CORT
process licensed from Petroteq, together with the associated
third-party technical verification report on the process,
commissioned from Crosstrails and Kahuna Ventures LLC respectively.
The third-party technical verification report by Kahuna indicated
operating costs of approximately US$22 per barrel of oil produced
for a 5,000 bopd plant operating 24 hours a day, 360 days a year,
before corporate costs, SG&A costs and royalty fees.

Greenfield has entered into a non-exclusive, multi-site license
with Petroteq.  For any oil sands plants built by Greenfield
utilizing the Petroteq license, a 5% royalty of net revenues
received from oil products produced from oil sand resources will be
payable by Greenfield to Petroteq.  Other than this royalty, no
further Petroteq license fees are payable.

George Stapleton, Petroteq COO, commented: "The estimated operating
cost of $22 per produced barrel of oil falls well within the $20-25
range previously estimated for a 5,000 bopd commercial plant and
does not take into account the reduction in net operating costs per
barrel attributable to the possible sale of produced sand.  We are
very pleased with the FEED study results and will now look to move
forward on funding for a 5,000 bopd plant while also advancing
licensing efforts with third parties."

                     About Petroteq Energy Inc.

Petroteq -- www.Petroteq.energy -- is a clean technology company
focused on the development, implementation and licensing of a
patented, environmentally safe and sustainable technology for the
extraction and reclamation of heavy oil and bitumen from oil sands
and mineable oil deposits.  Petroteq is currently focused on
developing its oil sands resources at Asphalt Ridge and upgrading
production capacity at its heavy oil extraction facility located
near Vernal, Utah.

Petroteq reported a net loss and comprehensive loss of $12.38
million for the year ended Aug. 30, 2020, compared to a net loss
and comprehensive loss of $15.78 million for the year ended Aug.
31, 2019.

Vancouver, British Columbia, Canada-based Hay & Watson, the
Company's auditor since 2012, issued a "going concern"
qualification in its report dated Dec. 15, 2020, citing that the
Company has had recurring losses from operations and has a net
capital deficiency, which raises substantial doubt about its
ability to continue as a going concern.


PG&E CORP: Fire Victims See Settlement Fund Damaged by Wildfire
---------------------------------------------------------------
Mark Chediak of Bloomberg News reports that the largest wildfire in
California is not only burning homes and forcing thousands to
evacuate.  It's also destroying the value of a trust fund set up to
compensate victims of past wildfires started by PG&E Corp.

Fire victims own nearly 25% of PG&E's stock, which has lost about
8% of its value since the California utility giant said on July 18
it may have started the Dixie Fire that's currently blazing in
northern California.  It's the 14th largest in the state's history,
having charred more than 200,000 acres and burned 38 structures. It
is 23% contained.

Victims of past fires blamed on PG&E equipment agreed in bankruptcy
court last year to settle claims against the utility for $13.5
billion with half of that amount paid in cash and the other half in
company stock. The value of the 478 million shares held by the fire
victims trust sunk to as low as $4.16 billion on Monday, or about
$2.5 billion less than the value promised during the bankruptcy
settlement.

"It's really unfortunate," said Will Abrams, a 2017 wildfire
survivor who opposed PG&E’s plan to compensate victims in stock.
"I'm very disappointed that victims have really been taken
advantage of in this situation."

"We're focused on continuing to deliver safe and reliable energy to
our customers, and implementing needed changes across our business
to improve our operations for the long term," PG&E said in a
statement.

Some attorneys for fire victims criticized the stock settlement at
the time, saying that it left their clients vulnerable to the risk
of PG&E starting another big fire that would reduce the value of
their shares.  California officials have been bracing for a severe
wildfire season due to a punishing drought that has parched much of
the state.

The fire victims trust has yet to sell its PG&E stock holdings.
The trust has paid about $436.4 million to more than 15,000 fire
victims as of June 30, according to a report issued earlier this
month.

"The trust's financial and legal advisors remain steadfast in their
commitment to monetize the PG&E shares in an efficient and rational
manner so as to achieve optimal distributable value for the fire
victims," according to a statement from the trustee report on July
8.

Trustee John Trotter, a retired judge, declined to comment on
PG&E's stock price or its impact on fire victims.

To get to the full settlement value, victims need PG&E's stock to
climb nearly 60% to about $14.12 a share.

                        About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E.  Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.  Morrison &
Foerster LLP, as special regulatory counsel.  Munger Tolles & Olson
LLP, as special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019. The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.



PHILIPPINE AIRLINES: Independent Director Gregorio Yu Resigns
-------------------------------------------------------------
PhilStar Global reports that businessman Gregorio Yu has exited the
board of PAL Holdings Inc. and Philippine Airlines Inc. after
almost seven years of serving as independent director.

PAL, in a stock exchange filing, said its board of directors
accepted the resignation of Yu as independent director.

Yu, who chairs PAL's corporate governance committee and is a member
of its audit and risk management committee, resigned due to
"personal reasons," according to PAL.

Yu served as independent director since October 2014.

Yu is the chairman of the board and president of Philequity Fund
Inc., Lucky Star Network Communications Corp., and Domestic
Satellite Corp. of the Philippines, as well as chairman of CATS
Automobile Corp., American Motorcycles Inc., and Auto Nation Group
Inc.

PAL has been working on a comprehensive restructuring plan that
will enable the airline to emerge financially stronger from the
current global crisis.

Last May, PAL named Lucio "Han" Tan III, the grandson of taipan and
group chairman Lucio Tan, as its vice president, a new position in
its corporate structure.

In April 2021, it elected Junichir? Miyagawa as director to serve
as a representative of Japan's ANA in the board following the
retirement of Ryuhei Maeda.

As part of its financial restructuring plan, PAL earlier said among
the considerations is the filing of a "pre-negotiated
court-rehabilitation in an overseas jurisdiction."

However, PAL late last month said its board has not approved any
definite option.

PAL representatives declined to give an update on the Chapter 11
bankruptcy protection filing in the US.

Through its planned financial restructuring plan, PAL aims to
reduce near-term payments of obligations to allow sufficient
liquidity to stabilize the financial condition of the group, and to
restore its ability to service financial obligations, as
restructured, on an on-going basis.

PAL will be requiring funding from a major stockholder of up to
PHP24.25 billion, which may involve sourcing of the fund from the
government and private financial institutions, estimated to be
around PHP12.01 billion.

The group will also be seeking an exit facility amounting to PHP6
billion.

PAL posted a net comprehensive loss of PHP73 billion in 2020,
sharply higher than the PHP10.20 billion comprehensive loss the
previous year, as operations were severely affected by the
worldwide travel restrictions due to the COVID-19 pandemic.

In the first quarter, it was able to trim slightly its total
comprehensive loss to PHP9.6 billion from PHP10.72 billion in the
same period last year, due to lower expenses.

                     About Philippine Airlines

Philippine Airlines -- http://www.philippineairlines.com/-- is the
Philippines' national airline.  It was the first airline in Asia
and the oldest of those currently in operation. With its corporate
headquarters in Makati City, Philippine Airlines flies both
domestic and international flights. First taking off in 1941, the
carrier has grown into a fleet of about 40 aircraft (including five
Boeing 747-400s) flying to more than 20 domestic points and about
30 foreign destinations.

Citing data from Cirium, online aviation news and information
website FlightGlobal reported that PAL was seeking a restructuring
agreement with creditors ahead of filing Chapter 11 proceedings
potentially by the end of May 2021.

PAL had some $5 billion in total liabilities, including its
outstanding obligations to foreign aircraft suppliers. Nineteen
lessors are exposed to PAL to the tune of 49 aircraft, Cirium data
shows.

According to reports, Norton Rose Fulbright is the airline's
counsel on the restructuring, and Seabury Capital has been hired as
a restructuring adviser.



PHOENIX NEWCO: Moody's Assigns B2 CFR & Rates 1st Lien Loans B1
---------------------------------------------------------------
Moody's Investors Service assigned ratings to Phoenix Newco, Inc.
(doing business as "Parexel"), including a B2 Corporate Family
Rating and B2-PD Probability of Default Rating. Moody's also
assigned a B1 rating to the first lien senior secured credit
facilities (revolver and term loan B). The outlook is stable.

Proceeds from the term loans will be used, in combination with
equity, to fund the acquisition of Parexel, including repaying its
existing debt, as well as fees and expenses. The B1 rating on the
first lien debt, one notch above the B2 Corporate Family Rating,
reflects the $900 million of second lien debt (unrated) that
provides loss absorption in the capital structure. The deal is
expected to close later in the second half of 2021. After the
close, Moody's expects to withdraw the ratings of Parexel
International Corporation once the old debt is fully repaid.

Growth in Parexel's earnings is benefitting from a backdrop of
robust underlying demand from the pharmaceutical and biotech
industry for outsourced clinical research services. Parexel
specifically, continues to build momentum for sustained earnings
growth over the new few years, as evidenced by industry leading
revenue backlog growth. At the same time, governance is a material
ESG consideration in this rating action, as Moody's views the
increase in Parexel's already high financial leverage as
aggressive.

The stable outlook reflects Moody's expectation that Parexel's
debt/EBITDA will improve towards 7x over the next 18 months driven
largely by strong earnings growth.

Moody's assigned the following ratings:

Phoenix Newco, Inc.

Corporate Family Rating, assigned B2

Probability of Default Rating, assigned B2-PD

First lien senior secured revolving credit facilities, assigned B1
(LGD3)

First lien senior secured term loan, assigned B1 (LGD3)

Outlook action:

Assigned, stable outlook

RATINGS RATIONALE

Parexel's B2 Corporate Family Rating reflects its high financial
leverage, offset in part by its good cash generation. Moody's
estimates that Parexel's debt/EBITDA for the 12 months ended June
30, 2021 will increase to around 9x, not adjusted for cost savings
and normalization of certain compensation expenses that will be
fully realized in 2022. Parexel's rating benefits from good scale
and breadth of service offerings as a CRO. Underlying demand for
CRO services continues to be strong. In Moody's view, CROs have
good long-term growth prospects as the biopharmaceutical industry
continues to increase outsourcing of R&D functions, which will
benefit Parexel. Deleveraging back under 7x debt/EBITDA over the
next 18 months will depend on Parexel sustaining strong earnings
growth and its capital allocation under new ownership. ESG
considerations include Parexel's financial policy, which Moody's
views as aggressive, a key governance risk.

Parexel's liquidity will be very good, supported by its strong cash
generating ability. Inclusive of higher interest expense, Moody's
expects free cash flow of $125-$150 million in 2022. Annual
mandatory debt amortization on Parexel's debt will be $27 million.
Parexel will have a $500 million undrawn revolver that expires in
July 2026. Moody's does not expect the revolver to be drawn in the
next 12 months.

The senior secured first lien term loan facility does not contain
any financial maintenance covenants. The revolver will be subject
to an 8.30x maximum first lien secured leverage ratio beginning
with the third full fiscal quarter period after the closing date.

The proposed first lien credit facilities contains covenant
flexibility that if utilized could negatively impact creditors.
Notable terms include the following:

The incremental first lien debt capacity up to the greater of $501
million and 100% of consolidated EBITDA, plus amounts available
under the General Debt Basket, plus unlimited amounts subject to
either 5.40x first lien secured leverage ratio or the first lien
secured leverage ratio level immediately prior.

Amounts up to the greater of $501 million and 100% of consolidated
EBITDA, first lien facilities incurred in connection with permitted
acquisition or investments, and first lien facilities incurred
utilizing capacity under the General Debt Basket.

There are no express "blocker" provisions which prohibit the
transfer of specified assets to unrestricted subsidiaries; such
transfers are permitted subject to carve-out capacity and other
conditions.

Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees, with no
explicit protective provisions limiting such guarantee releases.

There are no express protective provisions prohibiting an
up-tiering transaction.

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

The ratings could be upgraded if adjusted debt/EBITDA is sustained
below 5.5x and the company demonstrates more conservative financial
policies.

The ratings could be downgraded if Moody's expects Parexel's
debt/EBITDA to be sustained above 7x or if free cash flow is
expected to be negative for a sustained period.

Dually headquartered in Newton, Massachusetts, and Durham, North
Carolina, Phoenix Newco, Inc., operating as Parexel International
Corporation, is a global biopharmaceutical services company
providing clinical research and logistics, technology solutions and
consulting services for the pharmaceutical, biotechnology, and
medical device industries. Reported revenue for the twelve months
ended June 30, 2021 was approximately $3.0 billion. The company
will be privately held by EQT Partners and Goldman Sachs Asset
Management and publicly available information is limited.

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


PORTOFINO TOWERS: Wants Oct. 25 Plan Exclusivity Extension
----------------------------------------------------------
Portofino Towers 1002 LLC asks the U.S. Bankruptcy Court for the
Southern District of Florida to extend the Debtor's exclusive
period to file a plan of reorganization until October 25, 2021, and
to solicit acceptances until December 25, 2021.  

The Debtor and Creditors have been negotiating toward a consensual
plan, but additional time is needed due to continued state court
litigation, and delays caused by the COVID-19 pandemic.

The Debtor needs more time to resolve issues in this case,
negotiate with creditors, amend plan and disclosure statement, and
solicit acceptances.

A copy of the Debtor's Motion to extend is available at
https://bit.ly/3ib0Mtr from PacerMonitor.com.

                         About Portofino Towers 1002 LLC

Portofino Towers 1002 LLC owns a condo at 300 S Pointe Dr. Unit
1002, Miami Beach FL 33139.

Portofino Towers 1002 LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
20-20446) on September 27, 2020. The petition was signed by Laurent
Benzaquen, authorized member (AMBR). At the time of filing, the
Debtor estimated $1 million to $10 million in assets and
liabilities.

The cases are assigned to Judge A. Jay Cristol. Joel M. Aresty,
Esq. at JOEL M. ARESTY P.A. represents the Debtor as counsel.

Until further notice, the United States Trustee said it will not
appoint a committee of creditors according to 11 U.S.C. Section
1102.


PREMIER DENTAL: S&P Assigns 'B-' ICR on Revolving Credit Facility
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '3'
recovery rating to Premier Dental Services Inc.'s proposed $60
million revolving credit facility and $490 million first-lien
senior secured term loan. The '3' recovery rating indicates its
expectation for meaningful (50%-70%; rounded estimate: 50%)
recovery for lenders in the event of a payment default.

S&P expects the company's planned refinancing to be leverage
neutral because it will use the proceeds to refinance all of its
existing debt. Therefore, its 'B-' issuer credit rating and stable
outlook on Premier Dental are unaffected.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Premier Dental's proposed capital structure comprises a $60
million senior secured revolver due 2026 and a $490 million senior
secured term loan due 2028.

-- S&P's simulated default scenario incorporates a default
occurring in 2023 because of increased competition and decreased
third-party reimbursement rates paid to Premier Dental's affiliated
dental practices.

-- S&P believes Premier Dental would reorganize in the event of a
default given its multistate network of dental practitioners and
record of providing quality management services to dental offices.

-- S&P values the company as a going concern using a 4.5x multiple
of our projected emergence EBITDA.

-- The senior secured credit facilities benefit from guarantees
from the holding company and from the management services
organization, which holds the borrower's service agreements with
its affiliated dental practices. The affiliated practices are
nonguarantors. The security agreement includes a first-lien on the
subsidiary assets (including the service agreements).

Simulated default assumptions

-- Simulated year of default: 2023
-- Implied EBITDA multiple: 4.5x
-- EBITDA at emergence: $68.7 million
-- Jurisdiction: U.S.

Simplified waterfall

-- Net enterprise value at default (after 5% administrative
costs): $293.7 million

-- First-lien secured debt: $551.1 million

    --Recovery expectations: 50%-70% (rounded estimate: 50%)

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



PROJECT SKY: Moody's Assigns 'B3' CFR & Rates First Lien Debt 'B2'
------------------------------------------------------------------
Moody's Investors Service assigned to Project Sky Merger Sub, Inc.
("Cloudera") a B3 Corporate Family Rating and a B3-PD Probability
of Default Rating. Concurrently, Moody's assigned a B2 rating to
Cloudera's proposed senior secured first lien bank credit
facilities, consisting of a $250 million revolving credit facility
and a $1.64 billion term loan B. Moody's also assigned a Caa2
rating to Cloudera's proposed $500 million senior secured second
lien term loan B. The outlook is stable.

Net proceeds from the proposed debt issuance will be used in
combination with new sponsor equity to finance the acquisition of
Cloudera, Inc. by affiliates of Clayton, Dubilier & Rice and KKR &
Co.

Assignments:

Issuer: Project Sky Merger Sub, Inc.

Probability of Default Rating, Assigned B3-PD

Corporate Family Rating, Assigned B3

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

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

Senior Secured 2nd Lien term Loan, Assigned Caa2 (LGD6)

Outlook Actions:

Issuer: Project Sky Merger Sub, Inc.

Outlook, Assigned Stable

RATINGS RATIONALE

Cloudera's B3 CFR reflects the company's very high adjusted
leverage of well over 10x based on estimated results as of the LTM
period ended April 30, 2021, pro forma for the proposed debt
issuance. However, when adjusting for stock-based compensation and
change in deferred revenue, Cloudera's pro forma cash adjusted
leverage is more moderate at approximately 8x. As the company's
recent restructuring and integration expenses roll off, cash
adjusted leverage will decline toward 7x. Moody's also expects
continuing improvement in Cloudera's profitability which will
result in annualized FCF to gross adjusted debt maintained in the
low single digit range over the next 12-18 months.

The CFR also considers Cloudera's leading position within the
hybrid, multi-cloud data management and analytics software market
where solutions can be deployed on-premises as well as in public
and private clouds. The company benefits from its long-term
subscription contracts (typically up to 3 years in length) with
large enterprise customers, which are diversified across industry
and geography.

Nevertheless, Cloudera has moderate scale relative to certain
larger competitors and only a limited track-record of profitability
following the company's acquisition of Hortonworks. In addition,
Cloudera operates in an evolving technology landscape within the
highly competitive data management and analytics software market,
which includes 'legacy' players and hyperscale cloud providers.
Though Cloudera partners with major public cloud service providers,
Amazon, Microsoft and Google are also competitors within the data
management and analytics market. To retain or expand its market
position, Cloudera may have to engage in higher levels of sales and
R&D investments or acquisition activity which could require
substantial liquidity.

As a software company, Cloudera's exposure to environmental risk is
considered low. Social risks are considered low to moderate, in
line with the software sector. Broadly, the main credit risks
stemming from social issues are linked to data security, diversity
in the workplace and access to highly skilled workers. As a private
equity owned company, Cloudera is expected to maintain an
aggressive financial strategy as evidenced by the very high levels
of debt leverage proposed to fund the acquisition of the business.

The stable outlook reflects Moody's expectation that Cloudera will
grow revenues organically in the high single digit percent range
and maintain cash adjusted leverage levels below 8x over time. In
addition, Moody's expects that Cloudera will continue to generate
free cash flow to debt in the low single digit percent range.

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

Cloudera's ratings could be upgraded if the company were to
continue to grow revenues organically in the high single digit
percent range with Moody's cash adjusted leverage sustained below
7x with FCF to gross debt exceeding 5%. Cloudera's ratings could be
downgraded if Moody's cash adjusted leverage is sustained over 8x,
organic revenue and EBITDA were to decline, or liquidity were to
deteriorate.

Cloudera's liquidity is good, supported by Moody's expectation for
cash balances of about $150 million at the close of the proposed
transaction and expectations for annual free cash flow
approximating 3-4% of gross debt over the next 12-18 months.
Liquidity is further supported by a proposed $250 million revolving
credit facility which is expected to be undrawn at the close of the
transaction.

Cloudera, headquartered in Santa Clara, California is a provider of
data management and analytics software to enterprise customers. The
company generated revenues of approximately $894 million in its
fiscal year ended January 31, 2021.

The principal methodology used in these ratings was Software
Industry published in August 2018.


PURDUE PHARMA LP: Says Majority of Voting Creditors Support Plan
----------------------------------------------------------------
Purdue Pharma L.P. announced on July 27, 2021 the preliminary
voting results that show overwhelming support for its chapter 11
plan of reorganization ("The Plan"). More than 95% of the
120,000-plus votes submitted were in favor of confirmation. Out of
almost 5,000 state and local governmental creditors, almost 97%
voted to accept the plan. The votes were calculated by PrimeClerk,
Purdue's court-authorized solicitation and balloting agent, and the
filing is available on the docket via this link.

"This is an unprecedented expression of support for a restructuring
of this size and complexity, in favor of a Plan that will provide
needed resources to those affected by the opioid crisis," said
Steve Miller, Chairman of Purdue Pharma. "The preliminary voting
results demonstrate a broad consensus among every organized
creditor group in these proceedings, and we will continue to work
for even greater consensus ahead of the confirmation hearings."

These results follow the recent report from the third and final
round of mediation, after which it was announced that 15 additional
state attorneys general now support Purdue's Plan, bringing the
total number of supporting state attorneys general to approximately
40. The Plan is supported by the Official Committee of Unsecured
Creditors, the Ad Hoc Committee of Governmental and Other
Contingent Litigation Claimants, the Multi-State Governmental
Entities Group, the Native American Tribes Group, the Ad Hoc Group
of Individual Victims, the Ad Hoc Group of Hospitals, the
Third-Party Payor Group, the Ratepayer Mediation Participants, and
the NAS Committee representing caregivers and children affected by
Neonatal Abstinence Syndrome.

Purdue expects to make public the final voting results by August 2,
2021 but the tally is not expected to change materially from these
preliminary results. A Plan confirmation hearing in the United
States Bankruptcy Court for the Southern District of New York is
currently scheduled to commence on August 9, 2021.

                        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.



REGENTS COURT: Aug. 19 Plan & Disclosure Statement Hearing Set
--------------------------------------------------------------
On July 26, 2021, the Petitioning Creditors filed a disclosure
statement with respect to a plan on behalf of debtor Regents Court
Investors, LLC.  Judge Jeffrey Norman conditionally approved the
disclosure statement filed by Petitioning Creditors and ordered
that:

     * August 16, 2021 is fixed as the last day for filing written
acceptances or rejections of the plan.

     * August 19, 2021 at 1:30 p.m. in Courtroom 403, United States
Courthouse, 515 Rusk Street, Houston, Texas is fixed for the
hearing on final approval of the disclosure statement (if a written
objection has been timely filed) and for the hearing on
confirmation of the plan.

     * August 16, 2021 is fixed as the last day for filing and
serving written objections to the disclosure statement and
confirmation of the plan.

     * A Ballot Summary must be filed by August 17, 2021.

A copy of the order dated July 26, 2021, is available at
https://bit.ly/3zLE7cY from PacerMonitor.com at no charge.  

Under the Plan, the secured claim of Texas Gulf Bank, N.A., in
CLass 1, to the extent
allowed, will bde-accelerated and deemed reinstated as of the
Petition Date, and interest shall accrue from the Petition Date
forward at the non-default contract rate under the two prepetition
notes executed by the Debtor, or

All holders of allowed unsecured claims in Class 4 will be paid a
pro rata share of such claims, to the extent allowed, in one, or
more, cash payments as soon as is practicable after the payment in
full of allowed claims in Classes 1-3 and after payment of all
allowed Administrative Claims and Allowed Priority Tax Claims.
Allowed claims in this class are impaired.

Class 5 consists of the interests of the equity membership interest
holder of the
Debtor, Brooksprings Trust No. 1.  If there is any remaining
proceeds from the
sale of the Property after the payment in full of allowed claims in
Classes 1-4
and all allowed Administrative Claims and Priority Tax Claims, such
remining
funds shall be distributed to the Interest Holder in this Cla

A copy of the Combined Plan and Disclosure Statement dated July 26,
2021, is available at https://bit.ly/3zQb2gq

Counsel for Plan Proponents:

     Leonard H. Simon
     William P. Haddock
     PENDERGRAFT & SIMON, LLP
     2777 Allen Parkway, Suite 800
     Houston, TX 77019
     Tel. (713) 528-8555
     Fax. (713) 868-1267
     E-mail: lsimon@pendergraftsimon.com

                        About Regents Court

Regents Court Investors, LLC is a limited liability company formed
under the laws of the State of Texas on March 21, 2018.  It was
formed for the purpose of acquiring and developing a tract of
property located at 8940 Long Point Road, Houston, Texas 77055.

On May 31, 2021, an involuntary petition under Chapter 11 (Bankr.
S.D. Tex. Case No. 21-31802) was filed against Regents Court
Investors, LLC.  The petitioning creditors are Meredith Capital
Corporation, David William Hall Architecture Services, and
Benchmark Engineering.

Judge Jeffrey P. Norman oversees the case.

The Petitioning Creditors tapped Pendergraft & Simon, LLP, as
counsel.

The Debtor is represented by Leonard H. Simon, Esq. of PENDERGRAFT
& SIMON, LLP.


REGENTS COURT: Plan Payments to Depend on Property Sale
-------------------------------------------------------
Meredith Capital Corporation, David William Hall Architecture, and
Benchmark Engineering ("Petitioning Creditors") filed with the U.S.
Bankruptcy Court for the Southern District of Texas a Combined
Disclosure Statement and Chapter 11 Plan for debtor Regents Court
Investors, LLC dated July 26, 2021.

The Debtor was formed for the purpose of acquiring and developing a
tract of property located at 8940 Long Point Road, Houston, Texas
77055. The Real Property was recently appraised by an MAI appraiser
for a fair market value of $8.1 million as of October 2020.

A foreclosure of the Debtor's Real Property was set for June 1,
2021; however, the filing of the involuntary petition in this
bankruptcy case stayed further foreclosure proceedings.

A dispute exists over the value of the Real Property, and the Plan
Proponents will ask the Court to value the Property for Plan
confirmation purposes. The Plan Proponents believe, based on a
recent appraisal dated October 6, 2020, that the Property has a
fair market value of $8,100,000.  Texas Gulf Bank, N.A. alleges
that it appraised the value of the Property to be $4,195,000.00 as
of July 31, 2020. Finally, on June 10, 2021, Lexington 26, LP d/b/a
Colina Homes, issued an Earnest Money Contract where it committed
to purchase the Real Property for $6,000,000.

Class 1 consists of the secured claim of Texas Gulf Bank, N.A., to
the extent allowed. The Allowed Secured Claim of Texas Gulf Bank,
N.A. in this Class shall be paid in full at the Closing under the
Earnest Money Contract, or at the closing of an earnest money
contract of a Successful Bidder or Alternate Bidder if the Trustee
chooses to conduct an auction. Therefore, the allowed claim in this
class is unimpaired.

Class 2 consists of an allowed secured claim of Tran and Khanh Quoc
Le in the approximate amount of $1,400,000.00. Upon information and
belief, these Creditors have agreed to reduce their claim to a
secured claim of $575,000.00. The Allowed Secured Claim of Tran and
Khanh Quoc Le in this Class shall be paid in full at te Closing
under the Earnest Money Contract, or at the closing of an earnest
money contract of a Successful Bidder or Alternate Bidder if the
Trustee chooses to conduct an auction. The allowed claim in this
class is unimpaired.

Class 3 consists of mechanics and materialman's liens. Petitioning
Creditors and/or the Chapter 11 Trustee and/or the Liquidating
Trustee shall evaluate such mechanics and materialmen claims to
determine whether such claims have been properly perfected under
applicable state law. To the extent such claims are allowed as
Allowed Secured Claims, the Chapter 11 Trustee or the Liquidating
Trustee, as the case may be, shall pay such claims in full. To the
extent such mechanics and materialmen's claims are determined to be
disallowed as Allowed Secured Claims in this Class, such claims
shall be treated as Unsecured Claims in Class 4.

Class 4 consists of all general, unsecured claims.  All holders of
allowed claims in this class will be paid a pro rata share of such
claims, to the extent allowed, in one, or more, cash payments as
soon as is practicable after the payment in full of allowed claims
in Classes 1-3 and after payment of all allowed Administrative
Claims and Allowed Priority Tax Claims. Allowed claims in this
class are impaired.

Class 5 consists of the interests of the equity membership interest
holder of the Debtor, Brooksprings Trust No. 1.  If there is any
remaining proceeds from the sale of the Property after the payment
in full of allowed claims in Classes 1-4 and all allowed
Administrative Claims and Priority Tax Claims, such remaining funds
shall be distributed to the Interest Holder in this Class.

The Chapter 11 Trustee shall close the sale of the Real Property to
the Buyer in accordance with the terms of the Earnest Money
Contract. If the Chapter 11 Trustee elects to conduct an Auction of
the Estate's Real Property, and there is a Successful Bidder of an
Alternate Bidder, the Chapter 11 Trustee shall sell the Estate's
Real Property to such Successful Bidder or Alternate Bidder
pursuant to a closing under the earnest money contract with such
Successful Bidder or Alternate Bidder.

The Plan is a liquidating plan and shall be funded with the
proceeds of the sale of the Real Property to the Buyer at the
Closing. Assuming the Real Property sells for $6 million and such
sale is approved by the Court, the Plan Proponents estimates that
the proceeds will be distributed as set forth in the Plan.

A full-text copy of the Disclosure Statement dated July 26, 2021,
is available at https://bit.ly/3rLWFqP from PacerMonitor.com at no
charge.

Counsel for Plan Proponents:

     Leonard H. Simon
     TBN: 18387400 | SBN: 8200
     William P. Haddock
     TBN: 00793875 | SBN: 19637
     PENDERGRAFT & SIMON, LLP
     2777 Allen Parkway, Suite 800
     Houston, TX 77019
     Tel. (713) 528-8555
     Fax. (713) 868-1267
     lsimon@pendergraftsimon.com

          About Regents Court

Regents Court Investors, LLC is a limited liability company formed
under the laws of the State of Texas on March 21, 2018. The Debtor
was formed for the purpose of acquiring and developing a tract of
property located at 8940 Long Point Road, Houston, Texas 77055.

On May 31, 2021, an involuntary petition under Chapter 11 (Bankr.
S.D. Tex. Case No. 21-31802) was filed against Regents Court
Investors, LLC.

Judge Jeffrey P. Norman oversees the case. The Debtor is
represented by Leonard H. Simon, Esq. of PENDERGRAFT & SIMON, LLP.


REMINGTON: To Pay $33 Mil. for Sandy Hook Victims' Families
-----------------------------------------------------------
Law360 reports that one day after a Connecticut judge cleared the
way for families of nine victims killed in the Sandy Hook massacre
to pursue claims against gunmaker Remington at trial, the bankrupt
company agreed Tuesday, July 27, 2021, to pay the families more
than $3.6 million each in a settlement worth about $33 million.

The company lodged nine separate offers of compromise in state
court, stating that it would pay Donna Soto and eight other
relatives of deceased victims.

                     About Remington Outdoor

Remington Outdoor Company, Inc. and its affiliates are
manufacturers of firearms, ammunition and related products for
commercial, military, and law enforcement customers throughout the
world.  They operate seven manufacturing facilities located across
the United States. The companies' principal headquarters are
located in Huntsville, Alabama.

Remington Outdoor Company and its affiliates sought protection
under  Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Lead
Case No. 20-81688) on July 27, 2020. At the time of the filing,
Remington disclosed assets of between $100 million and $500 million
and liabilities of the same range.

Judge Clifton R. Jessup Jr. oversees the cases.

The Debtors have tapped O'Melveny & Myers LLP as their bankruptcy
counsel, Burr & Forman LLP as local counsel, M-III Advisory
Partners LP as financial advisor, Ducera Partners LLC as investment
banker, and Prime Clerk LLC as notice, claims and balloting agent.

The U.S. Bankruptcy Administrator for the Northern District of
Alabama appointed a committee of unsecured creditors on Aug. 6,
2020.  The committee is represented by Fox Rothschild, LLP and
Baker Donelson Bearman Caldwell & Berkowitz, PC.



RGN-GROUP HOLDINGS: Disclosures OK'd, Aug. 19 Hearing on Plan Set
-----------------------------------------------------------------
Judge Brendan Linehan Shannon approved the Disclosure Statement to
the Plan of RGN-Group Holdings, LLC and debtor-affiliates, as
containing adequate information for holders of claims to make an
informed judgment as to whether to vote to accept or reject the
Plan.

Judge Shannon established the following timeline with respect to
the confirmation of the Debtors' Plan:

   * July 29, 2021, at 4 p.m., prevailing Eastern Time, for filing
assumed executory contract and Unexpired Lease List, the Rejected
Executory Contract and Unexpired Lease List, and Service of
Assumption and Assignment Notices and Rejection Notices;

   * August 5, 2021, at 4 p.m., prevailing Eastern Time, as the
deadline for the Debtors to file the Plan Supplement;

   * August 12, 2021, at 4 p.m. prevailing Eastern Time, as the
deadline by which all Ballots must be properly executed,
completed,
and delivered so as to be actually received by the Claims and
Noticing Agent;

   * August 12, 2021, at 4 p.m., prevailing Eastern Time, as the
deadline to file an objection to confirmation of the Plan;

   *  August 12, 2021 at 4 p.m., prevailing Eastern Time, as the
deadline to file a response or objection to proposed cure amounts,
if any; and

   * August 17, 2021, at 12 p.m., prevailing Eastern Time, as the
deadline to file a brief in support of confirmation of the Plan
and/or a reply to any objections to confirmation of the Plan.

The confirmation hearing will be held on August 19, 2021, at 10
a.m., prevailing Eastern Time.

A copy of the order is available for free at https://bit.ly/3BI8keZ
from Epiq, noticing and claims agent.

                   About RGN Group Holdings LLC

RGN-Group Holdings, LLC and its affiliates are primarily engaged in
renting and leasing real estate properties.  On Aug. 17, 2020,
RGN-Group Holdings and its affiliates 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.

Natasha Songonuga is the Subchapter V trustee for the estates of
RGN-Group Holdings, LLC and its affiliates.  The trustee is
represented by Gibbons P.C.

The Official Committee of Unsecured Creditors has retained FTI
Consulting, Inc. as financial advisor; and Cole Schotz P.C. and
Frost Brown Todd LLC as Co-Counsel.


RITE AID: Fitch Affirms 'B-' LT IDR & Alters Outlook to Negative
----------------------------------------------------------------
Fitch Ratings has affirmed Rite Aid Corporation's ratings,
including its Long-Term Issuer Default Rating (IDR) at 'B-'. The
Rating Outlook has been revised to Negative from Stable.

Rite Aid's ratings reflect ongoing operational challenges, which
have heightened questions regarding the company's longer-term
market position and the sustainability of its capital structure.
Persistent EBITDA declines have led to negligible to modestly
negative FCF and elevated adjusted debt/EBITDAR in the low - to
mid-7.0x range in recent years. The Negative Outlook reflects
accelerating operating weakness in 2020, including a 20% EBITDA
decline to around $420 million, and Fitch's reduced confidence in
the company's ability to stabilize EBITDA above $500 million. These
concerns are somewhat mitigated by Rite Aid's ample liquidity of
well over $1 billion, supported by a rich asset base of
pharmaceutical inventory and prescription files, and no notes
maturities before 2025.

KEY RATING DRIVERS

Structural Disadvantages: While Rite Aid has good local market
share positions, its scale and geographic concentration relative to
Walgreens Boots Alliance, Inc. (BBB-/Negative) and CVS Health Corp.
may negatively impact its ability to compete for inclusion in
pharmaceutical contracts. Rite Aid's footprint of approximately
2,500 stores, almost half of which are in four states, compares
with the national footprints of approximately 10,000 and 9,300 for
CVS (including pharmacies within Target stores) and Walgreens U.S.,
respectively. In addition, Rite Aid's weak FCF generation limits
its ability to make customer-facing investments to drive loyalty
and traffic, particularly as larger competitors accelerate
investments and newer entrants such as Amazon.com, Inc.
(AA-/Stable) fight for share.

Complex Industry Fundamentals: Despite projections of continued
modest growth in pharmaceuticals revenue, the healthcare industry
remains complex given intricate relationships between critical
constituents in the industry, strategic initiatives by large
players and regulatory overlay. Rite Aid benefits from close
relationships with end customers, which Fitch believes is a
critical structural advantage for drug retailers, and some business
diversification through Elixir. However, Rite Aid's challenged
operations and regional focus following its store divestiture has
weakened its competitive positioning, particularly given the rise
of preferred and narrow pharmaceutical networks.

Gross Margin Pressure: Retail pharmacy reimbursement pressure on
gross margin is intensifying. Pressure has been a consequence of
increased penetration of the government as a pharmaceutical payer
under the Medicare/Medicaid programs, ongoing pressure from
commercial payers and a mix shift toward the "90-day at retail"
offering. Growth in preferred/narrow networks may also be a factor,
as players sacrifice margin for network inclusion to drive volume.

Challenging EBITDA Trend: Rite Aid's operating performance has been
weak, with EBITDA declining from pro forma levels of approximately
$850 million in 2015 to approximately $530 million in 2019, prior
to the coronavirus pandemic. Fitch believes EBITDA declines are the
consequence of Rite Aid's structural challenges and somewhat subpar
execution.

The past 12-18 months presented additional challenges for Rite Aid.
EBITDA in 2020 fell 20% to approximately $420 million, largely due
to a weak cold & flu season as consumers limited social activities.
Rite Aid also saw heightened operating expenses, like labor and
cleaning, due to the coronavirus pandemic, somewhat mitigated by
positive 3.5% same-store sales (SSS) with particular strength early
in 2020 as consumers stockpiled products at the onset of the
pandemic.

Investments in longer-term growth also negatively impacted EBITDA.
For example, the company's pharmacy benefits manager (PBM) Elixir
(around one-third of company EBITDA) saw EBITDA decline around 8%
despite 22% topline growth on new business wins. Fitch expects
EBITDA margins declined on weaker contract terms to attract and
retain clients.

New Initiatives to Stabilize EBITDA: The company is implementing a
number of initiatives to improve topline results. To drive revenue
growth, the company sees opportunities to cross market its PBM and
retail assets to mid-market employers, Medicare Part D
participants, and other target groups. The company is also
investing in a more holistic care approach with its pharmacy
customers to drive loyalty and incremental purchases, and is adding
omnichannel capabilities like improved digital/mobile shopping
experience and in-store pick-up options like lockers.

There is some evidence that initiatives have gained traction,
including good Elixir client growth in 2020. Assuming Rite Aid is
able to somewhat stabilize its operating trajectory, Fitch projects
EBITDA could rebound toward $450 million and $500 million in 2021
and 2022, respectively. This assumes reductions to pandemic-related
operating expenses and a return to a normalized cold & flu
environment by 2022.

Elevated Leverage; Limited FCF; Good Liquidity: Rite Aid's
operating challenges has resulted in elevated adjusted leverage,
which climbed to 7.8x in 2020 from the low-7x range the prior two
years. Given Fitch's EBITDA assumptions, adjusted leverage could be
mid-7x in 2021 and return to the low-7x thereafter. Following
several recent debt exchanges, the company's next maturities are
its $2.7 billion asset-based loan (ABL) revolver and $448 million
FILO term loan in December 2023.

FCF has been somewhat volatile although generally negative in
recent years due to EBITDA declines and working capital movements.
Fitch expects FCF to improve to modestly negative in 2021 and
breakeven thereafter from approximately negative $200 million in
2020 on improved EBITDA.

Greater confidence in Rite Aid's ability to return EBITDA above
$500 million, yielding adjusted leverage in the low-7x and modestly
positive FCF, would lead to a Stabilization of its Outlook.

Mitigating these concerns is Rite Aid's ample liquidity of
approximately $1.7 billion, which provides the company flexibility
to navigate through its current operating challenges.

DERIVATION SUMMARY

Rite Aid's 'B-' rating incorporates its weak position in the
relatively stable U.S. drug retail business, its limited to
negative FCF generation, and its high lease adjusted leverage
(capitalizing rent expense at 8x) projected in the mid-7x in 2021.
The company's drug retail business, representing approximately
two-thirds of total EBITDA, is expected to continue losing share,
although the company's Elixir PBM -- representing Rite Aid's
remaining EBITDA -- could grow modestly over time.

Rite Aid has significantly smaller scale and weaker operating
metrics than Walgreens Boots Alliance, Inc. (BBB-/Negative) and CVS
Health Corp., which may have a negative impact on its relative
ability to compete for inclusion in pharmacy networks. Rite Aid's
cash flow is minimal to modestly negative, and its leverage profile
is significantly higher than its larger peers, limiting its ability
to invest meaningfully in its business.

Retailers rated in the 'B' and 'CCC' category include Signet
Jewelers Limited (B/Positive), LSF9 Atlantis Holdings (B/Stable),
LLC (Victra) and Party City Holdco Inc. (CCC+).

Signet's ratings and Positive Outlook reflect Signet's
strengthening performance over the course of 2020, including 4%
revenue growth and approximately 30% EBITDA growth in 2H20 compared
with 2H19 on improving customer traffic and expense management
efforts. Signet's good performance and its approximately $440
million of debt reduction from YE 2019 resulted in 2020 adjusted
leverage (adjusted debt/EBITDAR, capitalizing leases at 8x) of
5.8x, modestly above the 5.4x in 2019.

Victra's ratings reflect its reasonably stable position as the
largest authorized retailer for the leading personal communications
provider Verizon Communications Inc. (A-/Stable), and the company's
good long-term operating track record, albeit mitigated by some
declines in recent years. The rating considers the company's
relatively small scale and narrow product and brand focus within
the U.S. retail industry. Finally, the rating reflects the
expectations of good cash flow of around $40 million annually prior
to sponsor dividends and adjusted leverage (adjusted debt/EBITDAR,
capitalizing leases at 8x) trending in the high-5x range following
the company's debt-financed dividend in 2021.

Party City's IDR reflects high adjusted leverage (adjusted
debt/EBITDAR, capitalizing leases at 8x), projected around 8x
beginning 2021, assuming EBITDA rebounds from breakeven in 2020 to
$170 million in 2021 and $180 million in 2022, limited projected
FCF of around $25 million, and a weak operating trajectory prior to
the onset of the coronavirus pandemic, which could limit Party
City's post-pandemic recovery prospects.

KEY ASSUMPTIONS

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

-- Fitch expects 2021 revenue to grow around 2% to $24.6 billion
    from $24 billion in 2020, supported by coronavirus vaccination
    volume early in the year and Fitch's assumptions of a more
    normalized cold & flu season. Revenue could be up modestly in
    2022 given vaccination comparisons, and grow 1% to 2%
    thereafter, assuming some of its topline initiatives gain
    traction. Longer term, pharmacy and Elixir revenue could grow
    in the low-single digits, with flattish to modestly negative
    growth at Rite Aid's front-end given ongoing competition from
    discount and online channels.

-- EBITDA, which fell to approximately $420 million in 2020 could
    improve to around $450 million in 2021 and towards $500
    million thereafter assuming the operating environment
    stabilizes. EBITDA margins could trend around 1.8% in 2021,
    2.0% thereafter, compared with the mid-2% average during the
    three years pre-pandemic given ongoing gross margin rate
    pressure.

-- FCF is expected to be modestly negative in 2021 and near
    breakeven thereafter, given Fitch's EBITDA assumptions and
    around $200 million and $275 million of interest expense and
    capex, respectively.

-- Adjusted debt/EBITDAR (capitalizing leases at 8x), could trend
    in the mid-7x range in 2021 and in the low-7x range
    thereafter. Debt levels are assumed to remain close to 2020 YE
    levels of $3.1 billion.

-- Fitch has not currently modeled any impact on total coverage,
    volume or pricing based on any legislative activity affecting
    the pharmaceutical industry.

RATING SENSITIVITIES

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

-- Stabilization of Rite Aid's Outlook would result from
    increased confidence in the company's ability to sustain
    EBITDA near $500 million, yielding adjusted debt/EBITDAR
    (capitalizing leases at 8x) below 7.5x and modestly positive
    FCF.

-- An upgrade would result from sustained positive revenue
    trends, EBITDA toward $600 million, adjusted leverage below 7x
    and positive FCF.

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

-- A downgrade would result from deteriorating sales and
    profitability trends that lead to EBITDA sustained well below
    $500 million, consistently negative FCF and adjusted
    debt/EBITDAR (capitalizing leases at 8x) toward 8.0x. Rite
    Aid's inability to stabilize operations would raise concerns
    regarding the company's capital structure sustainability,
    which is more representative of the 'CCC' category.

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

Ample Liquidity: Rite Aid had liquidity of $1.7 billion as of May
29, 2021, supported by $1.7 billion in availability under the $2.7
billion ABL facility, net of letters of credit, and approximately
$1.2 million of invested cash. The company's $2.7 billion ABL and a
$450 million FILO term loan in December 2018, extending maturities
to December 2023. The ABL and FILO term loan are secured by its
strong asset base of inventory, including pharmaceutical inventory,
receivables and valuable prescription files.

Following a series of debt repayment and exchange activities over
the past 18 months, the company's capital structure consists of its
ABL and $450 million FILO term loan, $1.45 billion of senior
secured notes in two tranches due 2025 and 2026, and $266 million
of unsecured notes due 2027 and 2028. The secured notes are secured
by a second lien on ABL collateral and a first lien on most of Rite
Aid's remaining assets, including property, plant and equipment.
The company owns 124 stores, two distribution centers and its
corporate headquarters as of Feb. 27, 2021.

Rite Aid maintains solid liquidity given its valuable asset base,
despite a history of operating challenges. The value of Rite Aid's
asset base is supported by the 11.5x EBITDA multiple implied by
Walgreen's original offer to buy Rite Aid in October 2015 for $17.2
billion and the 16.0x multiple Walgreens paid for 1,932 stores
during 2017/2018. Following the purchase, Walgreens announced plans
to close 600 of these stores and transfer prescription files to
nearby Walgreens locations, further illustrating the value placed
on prescription files.

Recovery

Rite Aid's business profile could yield a distressed enterprise
value of approximately $4.5 billion on Rite Aid's estimated $3.3
billion liquidation value on inventory, receivables, prescription
files, owned real estate and a $1.2 billion enterprise value for
Elixir. Fitch notes that its approximately $7.25 value ascribed per
prescription file could prove conservative given current
transaction multiples in the low- to mid-teens.

The $1.2 billion for the healthy Elixir business values the company
at 7.0x EBITDA of $170 million, close to Fitch's 2021 Elixir EBITDA
projection. This is well below the $2 billion, or 13.0x EBITDA Rite
Aid paid for the business in 2015. PBM valuations have declined
over the past several years, although Express Scripts Holding Co.
(BBB/Stable) was acquired by Cigna Corporation at an enterprise
valuation of approximately 9.0x TTM EBITDA in December 2018.

The $4.5 billion in resulting liquidation value exceeds Fitch's
assessment of Rite Aid's $3.0 billion valuation as a going concern.
The going concern valuation is based upon $500 million in
distressed EBITDA, modestly below 2019 results, as Fitch views Rite
Aid's pre-pandemic operating trajectory as somewhat distressed.
Fitch assumes Rite Aid could generate a 6.0x EBITDA multiple in a
going-concern sale, somewhat lower than valuations implied in the
Walgreens sale process due to ongoing declines in the company's
operations.

Given a $4.5 billion liquidation value and a 10% reduction for
administrative claims, the ABL, which Fitch assumes to be 80%
drawn, the $450 million FILO term loan and $1.45 billion in secured
notes would be expected to have outstanding recovery prospects
(91%-100%) and are thus rated 'BB-'/'RR1'. The approximately $266
million unsecured nonguaranteed notes would be expected to have
poor (0%-10%) recovery prospects and are therefore rated
'CCC'/'RR6'.

ISSUER PROFILE

Rite Aid is the third-largest drugstore chain in the U.S. based on
revenues and number of stores and filled approximately 164 million
prescriptions in 2020 (fiscal year ending February 2021). The
company serviced 1.0 million customers per day in 2020. At Feb. 27,
2021, Rite Aid operated 2,510 stores, an increase from 2,461 in
2020 following an acquisition in the Seattle market.

SUMMARY OF FINANCIAL ADJUSTMENTS

Historical and projected EBITDA is adjusted to add back non-cash
stock-based compensation and exclude charges related to LIFO
adjustments, mergers & acquisitions, restructuring, and legal
settlements. Fitch has adjusted historical and projected debt by
adding 8x yearly operating lease expense.


RYAN SPECIALTY: S&P Ups ICR to 'BB-' on IPO Launch, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings raised its issuer credit and issue ratings on
wholesale broker and managing general agent Ryan Specialty Group,
LLC (RSG) to 'BB-' from 'B'. The outlook is stable. At the same
time, S&P maintained its recovery rating of '3' on its $2.25
billion first-lien credit facility ($600 million revolver due 2025
and $1.65 billion term loan due 2027), reflecting its expectation
of meaningful recovery (50%).

On July 22, RSG successfully completed the IPO of its parent
company, Ryan Specialty Group Holdings, Inc. The IPO created the
first publicly traded wholesale insurance broker while providing
liquidity to the founder family, investors, and employee owners.
The public launch triggered a required payoff of the remaining
preferred units (which S&P treats as debt), improving financial
leverage. The preferred units have been replaced with common shares
and the company benefits from an elevated level of cash held from
IPO proceeds, reducing leverage by more than 1x and leading to pro
forma financial leverage of 4.3x per S&P calculations.

RSG's underlying 2020 performance was strong despite challenging
macroeconomic conditions. RSG saw over 20% organic growth, expanded
EBITDA to almost $350 million per S&P calculations (margins of
about 29%), closed its largest acquisition (All Risks Ltd.), which
bolstered its presence in the U.S. P&C wholesale market as the
second-largest player, and achieved margin benefits from increased
operating leverage and lower travel and entertainment expenses.
These margin benefits were partly offset by acquisition and
integration-related expenses. Strong organic growth continued into
2021 with second -quarter organic growth of 26%-29%.

Large wholesale brokers like RSG benefit from favorable insurance
pricing, a growing nonadmitted market, retail broker consolidation,
and the consolidation of wholesalers used by carriers and
retailers.

For the 12 months ended March 31, 2021, pro forma net financial
leverage of 6.1x per S&P calculations(5.5x proforma including the
All Risks Ltd. acquisition and 4.6x pro forma excluding the
preferred units and IPO proceeds) was supported by strong organic
expansion, leading to higher EBITDA and lower leverage. S&P said,
"We expect, as a public company, RSG will operate with a
more-conservative capital structure leading to financial leverage
of 3.5x-4.5x per S&P calculations on the elimination of preferreds
and additional cash held from the IPO proceeds. We expect the
company to use existing cash and prospective cash flow generation
to support merger and acquisition opportunities versus debt
repayment and/or shareholder returns."

S&P said, "The stable outlook reflects our expectation that RSG
will continue to grow its revenue base with above average organic
growth, while maintaining stable EBITDA margins and re-initiating
its acquisition pace as they have digested most of the All Risks
Ltd. transaction. For 2021, we expect RSG to achieve organic
revenue growth in the the mid-to-high teens, EBITDA margins of
24%-27% per S&P calculations, and debt to EBITDA of 3.9x-4.4x with
EBITDA coverage above 5.0x per S&P calculations. We also expect RSG
to maintain its position as the second-largest wholesale
property/casualty broker in the U.S.

"We could lower our ratings in the next 12 months if earnings or
debt levels consistently result in debt to EBITDA above 5.0x or
coverage below 3.0x per S&P calculations. This could occur if
earnings fall due to negative growth, compressed margins, or if the
company adopts a more-aggressive financial policy.

"We could raise our ratings in the next 12 months if RSG continues
to expand its footprint profitably, and we believe it will maintain
debt to EBITDA at or below 3.5x with coverage above 6.0x per S&P
calculations through a less-aggressive financial policy.
Additionally, the company would need to continue to enhance scale
while closing the gap to peer EBITDA margins."


SAMARCO MINERACAO: Brazil Court OKs Loan From Vale-BHP Venture
--------------------------------------------------------------
Cristiane Lucchesi of Bloomberg News reports that Samarco Mineracao
SA, an iron-ore producer jointly owned by Vale SA and BHP Group,
was allowed by a Brazil court to take a loan to finance its
operations.

The company must choose the best financial offer and the loan can't
be used to pay for repairs of its deadly dam rupture, a judge said
in a court decision Tuesday, July 27, 2021. Samarco will ask market
players for proposals and may go to court to question the decision
on how to use the proceeds, according to a person familiar with the
matter, who asked not to be named.

                    About Samarco Mineracao SA

Samarco Mineracao SA is a Brazilian mining joint venture between
BHP Group and Vale SA. erves as an iron ore processing company. The
company provides blast furnace, direct reduction, sinter feed, as
well as low and normal silica content pellets.

On April 9, 2021, the Debtor filed a voluntary petition for
judicial reorganization in the 2nd Business State Court for the
Belo Horizonte District of Minas Gerais in Brazil pursuant to
Brazilian Federal Law No. 11,101 of February 9, 2005.

Samarco Mineracao filed for Chapter 15 bankruptcy recognition
(Bankr. S.D.N.Y. Case No. 21-10754) on April 19, 2021, in New York,
to seek U.S. recognition of its Brazilian proceedings.

The Debtor's U.S. counsel:

      Thomas S. Kessler
      Cleary Gottlieb Steen & Hamilton LLP
      Tel: 212-225-2000
      E-mail: tkessler@cgsh.com


SOMETHING SWEET: Taps Bielli & Klauder as Bankruptcy Counsel
------------------------------------------------------------
Something Sweet Acquisition, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Bielli &
Klauder, LLC to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) providing the Debtor with legal advice with respect to its
powers and duties in the continued operation of its business and
management of its properties;

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

     (c) preparing or assisting in preparing legal documents;

     (d) preparing responses to applications, motions, other
pleadings, notices, and other papers that may be filed and served
in the case;

     (e) appearing before the bankruptcy court and such other
courts as may be appropriate to represent the interests of the
Debtor and assisting the Debtor in negotiations;

     (f) advising the Debtor concerning actions it might take to
collect and recover property for the benefit of the estate;

     (g) advising the Debtor concerning executory contracts and
unexpired lease assumptions, assignments, and rejections;

     (h) advising the Debtor in connection with the contemplated
sale of all or substantially all of its assets under Section 363 of
the Bankruptcy Code;

     (i) advising the Debtor in formulating and preparing a Chapter
11 plan and disclosure statement, and assisting the Debtor in
connection with the solicitation and confirmation processes; and

     (j) performing all other necessary legal services for the
Debtor.

The firm's hourly rates are as follows:

     David M. Klauder, Esq.            $375 per hour
     Thomas Bielli, Esq.               $350 per hour
     Angela M. Mastrangelo, Esq.       $350 per hour
     Associates                        $225 - $275 per hour
     Paraprofessionals and Law Clerks  $115 - $150 per hour

The Debtor paid $40,000 to the law firm as a retainer fee.

David Klauder, Esq., a member of Bielli & Klauder, 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 M. Klauder, Esq.
     Bielli & Klauder, LLC
     1204 N. King Street
     Wilmington, DE 19801
     Tel.: (302) 803-4600
     Fax: (302) 397-2557
     Email: dklauder@bk-legal.com

                 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 The Peakstone Group, LLC serve as the Debtor's
legal counsel and investment banker, respectively.


SOMETHING SWEET: Taps Peakstone Group as Investment Banker
----------------------------------------------------------
Something Sweet Acquisition, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to hire The Peakstone
Group, LLC as investment banker.

The firm's services include:

     (a) preparing an information memorandum describing the Debtor
and its historical performance and prospects, including existing
contracts, marketing and sales, labor force, and management and
anticipated financial results of the Debtor;

     (b) assisting the Debtor in developing a list of suitable
potential buyers who will be contacted on a discreet and
confidential basis after approval by the Debtor;

     (c) coordinating the execution of confidentiality agreements
for potential buyers wishing to review the information memorandum;

     (d) assisting the Debtor in coordinating site visits for
interested buyers and working with the management team to develop
appropriate presentations for such visits;

     (e) soliciting competitive offers from potential buyers;

     (f) advising and assisting the Debtor in structuring the sale
and negotiating the sale agreements;

     (g) assisting the Debtor and its attorneys and accountants, as
necessary, through closing on a best efforts basis; and

     (h) testifying, as necessary, in support of the sale.

Peakstone Group will receive a $15,000 initial fee; a $15,000 fee
upon the execution of a letter of intent by the Debtor and an
investor; and a $150,000 fee upon the consummation of a sale.  

Stephen Sleigh, chief compliance officer of Peakstone 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:

     Stephen Sleigh
     Peakstone Group, LLC
     550 West Van Buren Street, Suite 1460
     Chicago, IL 60607
     Tel.: (312) 346-7318
     Email: ssleigh@peakstone.com

                 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 The Peakstone Group, LLC serve as the Debtor's
legal counsel and investment banker, respectively.


SPECTRUM HOLDINGS III: Moody's Raises CFR to Caa1, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded its ratings for Spectrum
Holdings III Corp. (dba Spectrum Plastics Group, "Spectrum"),
including the Corporate Family Rating to Caa1 from Caa2 and
Probability of Default Rating to Caa1-PD from Caa2-PD. Moody's also
upgraded the first lien senior secured credit facilities to B3 from
Caa1 and second lien term loan rating to Caa3 from Ca. The ratings
outlook is stable.

"The ratings upgrade reflects Spectrum's continued improvement in
operating performance and our expectation that an improving demand
environment, particularly, with the return of elective surgeries
will drive further reduction is adjusted debt-to-EBITDA (leverage)"
says Shirley Singh, Moody's lead analyst of the company. Leverage
remains very high at over 9.5x, but Moody's expect modest
deleveraging and positive free cash flow over the next 12-18
months.

The following rating actions were taken:

Issuer: Spectrum Holdings III Corp.

Upgrades:

Corporate Family Rating , Upgraded to Caa1 from Caa2

Probability of Default Rating , Upgraded to Caa1-PD from Caa2-PD

Senior Secured 1st Lien Bank Credit Facility, Upgraded to B3
(LGD3) from Caa1 (LGD3)

Senior Secured 2nd Lien Bank Credit Facility, Upgraded to Caa3
(LGD5) from Ca (LGD5)

Outlook Actions:

Outlook, Remains Stable

RATINGS RATIONALE

Spectrum Holdings' Caa1 CFR broadly reflects the company's modest
scale with revenues of less than $400 million and high financial
leverage. The rating is constrained by less specialized products in
the films business which are subject to greater competition and
risk of customer in-sourcing. The rating is also constrained by the
company's modest interest coverage and cash flow given the high
interest burden. The company's private equity ownership and the
acquisitive nature of the company creates event risk.

The ratings benefit from the company's defendable market position,
especially in the medical products segment. Many of the products
for use in medical sector require regulatory certifications that
create barriers to entry and support long-standing customer
relationships. The company also has a diverse set of product
offerings and relatively low customer concentration. The rating is
also supported by strong profitability margins, with EBITDA margin
close to 20%, reflecting the company's growing presence in higher
margin medical products and recent cost actions.

The stable outlook reflects Moody's expectation of a modest
reduction in leverage to below 9.0x, and adequate liquidity.
Moody's expectation for adequate liquidity reflects cash balances
in the $10 -$20 million range with modestly positive free cash flow
over the next 12-18 months. The company also has access to an
undrawn $45 million revolving credit facility.

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

Ratings could be downgraded if operating performance deteriorates
due to a customer loss or pricing pressure, or if there is a
weakening of liquidity including negative free cash flow or
increased revolver utilization.

Ratings could be upgraded if the company delivers sustained growth
in revenue and earnings that results in leverage approaching 7.5x,
with sustained positive free cash flow.

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

Headquartered in Alpharetta, GA, Spectrum Plastics Group is a
manufacturer and provider of a wide variety of engineered specialty
plastics products used in medical, food, and industrial end
markets. The company is owned by private equity firm AEA Investors.
Last twelve months revenue as of March 31, 2021 was about $315
million.


TENTLOGIX INC: Unsec. Creditors to Get $5K Per Quarter for 5 Years
------------------------------------------------------------------
Tentlogix Inc., filed with the U.S. Bankruptcy Court for the
Southern District of Florida a Disclosure Statement with the
accompanying Plan of Reorganization dated July 26, 2021.

The Debtor decided to file for relief under Chapter 11 of the
Bankruptcy Code not to avoid a condition of probation, but to
reorganize its affairs as a result of the catastrophic business
loses it sustained as a result of the COVID-19 pandemic. After the
pandemic shut down the event industry and scheduled events were
forced to be cancelled due to governmental restrictions, the Debtor
laid off the vast majority of its employees. Due to this dramatic
income drop, the Debtor was unable to pay its creditors.

It should be noted that the Forfeiture Money Judgment was
originally entered in the amount of $3,033,946.  At the time of the
filing of this case, the claim was $2,033,946.  In other words,
payments have been made, but with the effect of COVID on this
business, the Debtor could not manage the next payment due.

At the outset of the case, it was clear to the Debtor that it owned
many assets that were unnecessary as it restructured its financial
affairs. During the course of this case, the Debtor sold various
assets that it determined were unneeded in its future operations.
Specifically, the Debtor had several vehicles it was no longer
using that it was insuring. In addition, prior to the filing of the
case, the Debtor ceased operating a soft good division and those
assets were taking up space in the warehouse unnecessarily. The
Debtor sought authority of this Court to sell these assets.

Class Six consists of Kubota Credit Claim. The secured claim of
Kubota Credit in the amount of $5,791.81 for KUBOTA Z411KW-48,
17474 (Claim #14) shall continue to be paid pursuant to the terms
of the Retail Installment Agreement in the amount of $214.12 per
month until paid in full. Kubota Credit filed a Proof of Claim in
this case. The claim amount listed in the Proof of Claim has been
reduced post-petition since payments have been made. The claim is
unimpaired.

Class Seven consists of Toyota Industries Commercial Finance, Inc.
Claim. The Debtor is a party to a Master Lease Agreement with
Toyota Industries Commercial Finance, Inc. (Claim # n/a) for the
lease of several Toyota Forklifts. The Debtor desires to retain the
forklifts bearing serial numbers 77010, 76987 and 69511. The Debtor
intends to cure the arrears on these three serial numbers on the
Effective Date of the Plan. The remaining forklifts under the
Master Lease Agreement will be surrendered. Toyota Industries
Commercial Finance, Inc. did not file a Proof of Claim in this
case, but it did file Motion for Relief from Stay. This claim is
impaired.

Class Eight consists of Mercedes-Benz Financial Services, USA, Inc.
Claim. The secured claim of Mercedes-Benz Financial Services USA,
Inc. in the amount of $112,774.35 (Claim #27) for two Freightliners
VINs Ending 5971 and 5973 shall continue to be paid pursuant to the
terms of the Note and Security Agreement in the amount of $3,187.13
per month until paid in full. Mercedes-Benz Financial Services USA,
Inc. filed a Proof of Claim in this case. The claim amount listed
in the Proof of Claim has been reduced post-petition since payments
have been made. The claim is unimpaired.

Class Nine consists of Seacoast Bank, N.A. Claim. The secured claim
of Seacoast Bank, N.A. in the amount of $15,062.76 as of the
Petition Date (Claim #21) for 2017 Ford Transit Van VIN ending 3210
shall continue to be paid pursuant to the terms of the Note and
Security Agreement as well as the Agreed Order Granting Debtor's
Motion to Pay Adequate Protection to Seacoast National Bank. The
monthly payment is $696.56 and shall be paid on the 1st of each
month until paid in full. This claim is unimpaired.

Class Ten consists of Seacoast Bank, N.A. Claim. The secured claim
of Seacoast Bank, N.A. in the amount of $38,474.98 (Claim #24) for
2018 Dodge RAM 5500 CAB VIN ending 0861 shall continue to be paid
pursuant to the terms of the Note and Security Agreement as well as
the Agreed Order Granting Debtor's Motion to Pay Adequate
Protection to Seacoast National Bank. The monthly payment is
$1,249.90 and shall be paid on the 1st of each month until paid in
full. This claim is unimpaired.

Class Eleven consists of General Unsecured Claims. The general
unsecured claims prior to the filing of any objections total the
amount of $3,777,233.26, which will be paid over the 5 year term of
he Plan at the rate of $5,000.00 per quarter on a pro-rata basis.
The payments will commence on the Effective Date of the Plan. The
dividend to this class of creditors is subject to change upon the
determination of objections to claims. To the extent that the
Debtor is successful or unsuccessful in any or all of the proposed
Objections, then the dividend and distribution to each individual
creditor will be adjusted accordingly. These claims are impaired.

There shall be no distribution to the equity holders of the Debtors
under the confirmed Plan and no dividends to this class of
claimants. The equity shareholders shall retain their currently
held equity interest in the Debtors. This claim is impaired.

The Debtor shall continue to be operated by Gary Hendry, who is the
100% owner of the Debtor.

Tentlogix has continued to operate its personal and business
affairs as Debtor in Possession pursuant to Section 1108 of the
Bankruptcy Code.

The Debtor intends to assume the following leases: Toyota
Industries Commercial Finance, Inc. (for serial numbers 76987,
77010 and 69511 only).

The Debtor believes that the Plan of Reorganization provides the
best value for the creditors' claims and is in their best interest.
The Debtor believes that the risk of non-payment of the percentage
distribution to the unsecured creditors in the Chapter 11 is
greatly outweighed by the more substantial risk of nonpayment
should this Bankruptcy be converted to a Chapter 7 Liquidation,
wherein the unsecured creditors would receive a distribution of
0%.

A full-text copy of the Disclosure Statement dated July 26, 2021,
is available at https://bit.ly/3ib76AU from PacerMonitor.com at no
charge.

Attorneys for Debtor:

     Craig I. Kelley, Esq.
     Kelley, Fulton & Kaplan, P.L.
     1665 Palm Beach Lakes Blvd., Ste. 1000
     West Palm Beach, FL 33401
     Tel: (561) 491-1200
     Email: (561) 684-3773

                       About Tentlogix Inc.

Tentlogix Inc., a Florida corporation located in Indiantown, filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No.
20-22971) on Nov. 27, 2020.  Gary Hendry, chief executive officer,
signed the petition.  At the time of the filing, the Debtor
disclosed $3,135,866 in assets and $10,689,420 in liabilities.

Judge Mindy A. Mora oversees the case.  

The Debtor tapped Kelley, Fulton & Kaplan, P.L. as its legal
counsel and Carr Riggs & Ingram as its accountant.


TRIUMPH GROUP: Stockholders Approve 3 Proposals at Annual Meeting
-----------------------------------------------------------------
The Annual Meeting of stockholders of Triumph Group, Inc. was
virtually held via live audio webcast, at which the stockholders:

   (a) elected Paul Bourgon, Daniel J. Crowley, Ralph E. Eberhart,
       Daniel P. Garton, Barbara W. Humpton, William L. Mansfield,
       Colleen C. Repplier, and Larry O. Spencer as directors of
the
       Company for a term ending at the Company's next annual
       meeting of stockholders and until their successors are duly
            
       elected and qualified;

   (b) approved, by advisory vote, the compensation paid to the
       Company's named executive officers for fiscal year 2021;
and

   (c) ratified the selection of Ernst & Young LLP as the
Company's
       independent registered public accounting firm for the fiscal

       year ending March 31, 2022.

                           About Triumph

Headquartered in Berwyn, Pennsylvania, Triumph Group, Inc. --
http://www.triumphgroup.com-- designs, engineers, manufactures,
repairs and overhauls a broad portfolio of aerospace and defense
systems, components and structures.  The company serves the global
aviation industry, including orig inal equipment manufacturers and
the full spectrum of military and commercial aircraft operators.

Triumph Group reported a net loss of $28.13 million for the year
ended March 31, 2020, a net loss of $321.76 million for the year
ended March 31, 2019, and a net loss of $425.39 million for the
year ended March 31, 2018.  As of Dec. 31, 2020, the Company had
$2.40 billion in total assets, $639.35 million in total current
liabilities, $2.01 billion in long-term debt, less current portion,
$570.61 million in accrued pension and other postretirement
benefits, $8.03 million in deferred income taxes, $240.50 million
in other noncurrent liabilities, and a total stockholders' deficit
of $1.07 billion.

                             *   *   *

As reported by the TCR on Aug. 6, 2020, Moody's Investors Service
downgraded its ratings for Triumph Group, Inc., including the
company's corporate family rating (CFR, to Caa3 from Caa2) and
probability of default rating (to Caa3-PD from Caa2-PD).  "The
downgrades reflect its assertion of rising default risk over the
next few years given the company's deemed unsustainable leveraged
capital structure and the multi-year recovery of the aerospace
industry as anticipated," says Eoin Roche, Moody's vice president
and senior analyst covering Triumph.

In June 2020, S&P Global Ratings lowered its issuer credit rating
on Triumph Group Inc. to 'CCC+' from 'B-'.


VASCULAR ACCESS: U.S. Trustee Says Plan Patently Unconfirmable
--------------------------------------------------------------
The United States trustee for Region 3 (the U. S. trustee), objects
to the motion of Debtor Vascular Access Centers, LP, for approval
of its Disclosure Statement.

The U. S. trustee avers that the Disclosure Statement submitted by
the Debtors does not contain adequate information required by Sec.
1125 to enable creditors to make an informed judgment regarding the
Debtors' proposed Plan.

In particular, The Disclosure Statement:

     * Fails to set forth what all creditors will receive and
when;

     * Fails to provide a valuation of Debtor's assets and/or a
liquidation analysis;

     * Does not include a pro forma or other evidence of the
Debtors' anticipated income and expenses subsequent to confirmation
of their Plan, including the payments required under the Plan,
(i.e. Wind-Down Budget Exhibit B is not attached).

     * Fails to comply with Local Rule 3016-1 as to the appointment
of a Plan Administrator (Disbursing Agent).

Moreover, the disclosure statement relates to a patently
unconfirmable Plan in that:

     * The proposed Plan provides for overly broad and excessive
releases to known and unknown third parties;

     * The proposed Plan is a shell containing generic
generalizations with finite details to be later
provided/determined.

A full-text copy of the the United States Trustee's objection dated
July 26, 2021, is available at https://bit.ly/3rEl4i9 from
PacerMonitor.com at no charge.

                About Vascular Access Centers

Vascular Access Centers -- https://www.vascularaccesscenters.com/
-- provides comprehensive dialysis access maintenance including
thrombectomy and thrombolysis, fistulagrams, fistula maturation
procedures, vessel mapping, central venous occlusion treatment and
complete catheter services.  Its centers offer an alternative
setting for a wide spectrum of vascular interventional procedures,
including central venous access for oncology, nutritional and
medication delivery, venous insufficiency (including venous ulcer
and non-healing ulcer treatments), peripheral arterial disease
(PAD), limb salvage, uterine fibroid embolization and pain
management.

On Nov. 12, 2019, an involuntary Chapter 11 petition was filed
against Vascular Access Centers (Bankr. E.D. Pa. Case Number
19-17117).  The petition was filed by creditors Philadelphia
Vascular Institute, LLC, Metter & Company and Crestwood Associates,
LLC. David Smith, Esq., at Smith Kane Holman, LLC, is the
petitioners' counsel.

On Nov. 13, 2019, the Debtor consented to the relief sought under
Chapter 11.

Judge Ashely M. Chan is the presiding judge.

The Debtor tapped Dilworth Paxson LLP as its legal counsel.


VENOCO LLC: Calif. Wants the High Court to Toss Its Takings Suit
----------------------------------------------------------------
Law360 reports that a California state agency is asking the U.S.
Supreme Court to overturn what it is calling a "dangerous and
unreasonable" Third Circuit decision that sovereign immunity can't
stop a Chapter 11 trustee from filing suit over assets taken from
bankrupt oil driller Venoco LLC.

In its petition, the California State Lands Commission argued both
that the Third Circuit misinterpreted a 2006 Supreme Court ruling
and that the decision should be reexamined, calling the high
court's conclusion that the states waived their immunity to
bankruptcy court actions when they ratified the U. S. Constitution
a mistake.

                         About Venoco LLC

Venoco, LLC, is a California-based and privately owned independent
energy company primarily focused on the acquisition, exploration,
production and development of oil and gas properties. As of April
2017, Venoco held interests in approximately 57,859 net acres, of
which approximately 40,945 are developed.

In the midst of a historic collapse in the oil and gas industry,
Venoco, Inc. – the predecessor in interest to Venoco, LLC,
and six of Venoco, Inc.'s affiliates commenced voluntary Chapter 11
cases (Bankr. D. Del. Lead Case No. 16-10655) on March 18, 2016, in
Delaware to address their overleveraged capital structure. In under
four months, the 2016 Debtors confirmed a plan eliminating more
than $1 billion in funded debt and other liabilities.

On April 17, 2017, each of Venoco, LLC, and six of its subsidiaries
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
17-10828). As of the bankruptcy filing, the Debtors estimated
assets in the range of $10 million to $50 million and liabilities
of up to $100 million.

Judge Kevin Gross presides over the 2017 cases.  

The Debtors have hired Morris, Nichols, Arsht & Tunnell LLP and
Bracewell LLP as counsel; Zolfo Cooper LLC as restructuring and
turnaround advisor; Seaport Global Securities LLC as financial
advisor; and Prime Clerk LLC as claims, noticing and balloting
agent.


VENTURE GLOBAL: Moody's Assigns Ba3 Rating to $1.5BB Secured Notes
------------------------------------------------------------------
Moody's Investors Service has assigned a first time rating of Ba3
to Venture Global Calcasieu Pass, LLC's (Calcasieu Pass) planned
$1.5 billion senior secured note offering. The rating outlook is
positive.

The net proceeds from the note offering will be used to repay and
reduce a similar amount of commitments under Calcasieu Pass'
approximately $5.5 billion senior secured term loan due August
2026. Availability under the senior secured term loan combined with
approximately $1.8 billion of equity are being used to fund
construction of Calcasieu Pass, which is a liquified natural gas
(LNG) export facility in Cameron Parish, Louisiana. The nameplate
capacity of the export facility is 10 million metric tonnes per
annum (MTPA). Calcasieu Pass is indirectly owned by privately-owned
Venture Global LNG, Inc.

RATINGS RATIONALE

The Ba3 rating assigned to Calcasieu Pass' senior secured notes
considers the fixed capacity type payments under 20-year Sale and
Purchase Agreements (SPA) with six separate creditworthy customers
on a free on board basis that provide significant and predictable
future cash flows upon full commercial operation. The weighted
average rating of the SPA customers is Baa1 and the contracted
volumes represent 80% of Calcasieu Pass' nameplate capacity. LNG
sales under the SPAs commence upon reaching the Commercial
Operation Date (COD).

The rating incorporates the various fixed price equipment/EPC
contracts with reputable third parties that in combination are
expected to result in full facility production in mid- 2022, with
initial commercial LNG production expected to occur in October
2021. Assuming full operations within management's base parameters
relating to cost and timeline and management's ability to operate
the natural gas procurement risk associated with a 10 million MPTA
LNG export facility, Calcasieu Pass demonstrates investment grade
characteristics.

The rating, however, is currently constrained by a combination of
remaining construction risk, uncertainty around the Issuers'
ability to successfully maintain and operate the facility,
including gas procurement responsibilities, and cost overruns to
date which have reduced the available contingency.

As a new issuer, the rating assignment acknowledges Calcasieu Pass'
ownership structure and associated governance which includes the
fully funded, approximately $1.8 billion of equity provided by
Venture Global LNG, Inc. and certain affiliates of Stonepeak
Infrastructure Partners (Stonepeak). Moody's views governance as an
ESG consideration.

Construction Progress

Calcasieu Pass is following an owner-led procurement strategy and
is party to several construction contracts with different
contractors rather than a single lump-sum turnkey contract, which
has been the approach taken in the recent construction of LNG
export facilities on the Gulf Coast.

Full Notice to Proceed was issued by Calcasieu Pass to its
equipment manufacturers and the EPC Contractor by August 2019. The
project is approximately 81% complete as of June 30, 2021 with
Substantial Completion, or 100% of production capacity, anticipated
as early as July 2022. First commercial LNG production is expected
to begin in October 2021.

Calcasieu Pass' equipment providers have largely met their
contractual obligations to date and all equipment needed to achieve
LNG Production System 1 or LPS1, which reflects commercial
operation of approximately 44% of Calcasieu Pass' nameplate
capacity, has been delivered on-site. LPS1 is an important
milestone in that it will allow Calcasieu Pass to generate revenue
and cash flow on a precommercial basis. Such cash flow is required
to be deposited into secured accounts and enhances Calcasieu Pass'
contingency profile during the remaining construction period.

Calcasieu Pass will be the largest modularized LNG plant using
factory-built liquefaction trains -- manufactured, assembled and
tested in Baker Hughes Holdings LLC's (BKR: A3, stable) overseas
fabrication yard and shipped to the site. Through June 2021, BKR
had delivered 10 of the 16 liquefaction trains. The other parts of
the facility are being provided under various contract packages --
BKR for the onsite power plant, a subsidiary of Honeywell
International, Inc. (Honeywell: A2 stable) for gas pre-treatment
facilities, a subsidiary of McDermott Technology America, Inc. for
the storage tanks and Weeks Marine for the LNG berthing docks and
surge barrier.

The rating acknowledges that certain interim construction
milestones have been slightly slower than originally anticipated
and the expected capital expenditure profile has increased since
the onset of construction. The delays in achieving interim
milestones have largely been due to a combination of the COVID-19
pandemic and weather events. However, full substantial completion
is currently expected in July 2022, as originally scheduled.
Moody's note that construction could potentially be delayed should
the Gulf Coast experience severe storms during the 2021 hurricane
season.

Calcasieu Pass' total capital expenditures needed to achieve COD
has increased to approximately $6.3 billion from $5.8 billion in
the initial forecast. Including interest during construction and
financing fees, total forecasted costs have escalated to $7.1
billion from $6.5 billion previously. Despite these increases, the
Project continues to perform within its financed budget, with
contingency remaining at COD. The largest increase in capital
expenditures relates to amounts due to Kiewit Louisiana Co.
(Kiewit), a subsidiary of Kiewit Corporation and the EPC
contractor. Most of the contract price payable to Kiewit is not
fixed-price, but rather priced on a reimbursable time-and-material
basis for its actual, verifiable and documented direct costs. To
date, Calcasieu Pass' cash funded contingency has been ample to
meet the incremental costs.

LPS1 is anticipated in December 2021/January 2022 and provides
Calcasieu Pass an opportunity to earn pre-commercial revenue that
would replenish any consumed contingency. To that end, Calcasieu
Pass and a third-party have entered into a SPA relating to 12 pre-
commercial cargoes. It is Moody's understanding that additional
SPAs for pre-commercial cargoes are being negotiated. Substantial
Completion is currently anticipated in the 3rd quarter of 2022
followed by the effectiveness of the SPAs at the achievement of
COD.

Contributed Equity

Approximately $1.3 billion of the approximate $1.8 billion of
contributed equity was raised at Calcasieu Pass from funds owned
and controlled by Stonepeak, a private equity firm focused on
infrastructure investing. Moody's have reviewed the terms and
conditions related to Stonepeak's investment and have concluded
that they represent indirect perpetual preferred and/or equity
investment in Calcasieu Pass with limited control or rights at the
project level, a positive rating consideration.

Projected Financial Performance

Moody's base case assumes Calcasieu Pass declares COD in January
2023, at which time, it will begin to generate revenue and cash
flow from its long term contracts. Failure to achieve the Date
Certain COD requirement by March 31, 2023 (or, if certain interim
conditions have been met, June 30, 2023), would trigger an Event of
Default under the Credit Agreement and grant all lenders the right
to accelerate repayment, a material credit negative. would trigger
an Event of Default under the Credit Agreement and grant all
lenders the right to accelerate repayment, a material credit
negative. Moody's note that Calcasieu Pass has a 270 day window
beginning January 2023 to achieve COD and the effectiveness of the
SPAs (September 2023). Failure to achieve COD within 180 days after
this window period (which may be extended up to two years due to
force majeure) or by March 2024 allows the offtakers to terminate
the SPAs. LNG sales under the SPAs will commence upon COD.

Calcasieu Pass is expected to generate significant and predictable
future cash flows over a 20-year contractual term. Fixed fees from
the six offtakers exceed $800 million annually and compare
favorably to forecasted expenses and debt service as demonstrated
by an annual interest coverage ratio in excess of 2.0 times. While
Calcasieu Pass' projected cash from operations to adjusted debt
ratio is somewhat weak for the rating category at approximately 5%,
minimum annual cash are highly predictable and substantive, and
Moody's do see value in its 2 MTPA of uncontracted nameplate
capacity such that actual financial performance should be stronger
than depicted using Moody's fairly conservative assumptions when
the project is in operation.

RATING OUTLOOK

The positive outlook consider construction progress made to date
and an expectation that LPS1 will be achieved as early as the
fourth quarter of 2021.

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

Successful achievement of LPS1, combined with a demonstrated
ability to successfully operate the first 4 MTPA of capacity,
procure natural gas feedstock, and increase the Project's available
cash with precommercial cash flow would be favorable considerations
that support a positive view of Calcasieu Pass's credit profile.

Material costs overruns that further reduce Calcasieu Pass'
available contingency or delays in completion schedule, especially
as it relates to meeting the Date Certain COD requirement under the
Credit Agreement, would likely trigger rating pressure.

The principal methodology used in this rating was Generic Project
Finance Methodology published in June 2021.

Calcasieu Pass is primarily engaged in the natural gas liquefaction
and export-related businesses, and is constructing and will own and
operate an LNG export facility consisting of 18 midscale, modular
liquefaction trains, with an expected aggregate nameplate capacity
of 10.0 MTPA of LNG and permitted liquefaction capacity of 12.0
MTPA. Kiewit is the EPC contractor for the LNG Facility and has
full responsibility for the overall design of the balance of plant
at the LNG facility.

Calcasieu Pass has entered into six fixed-price, 20-year
take-or-pay SPAs for 8 MTPA of the nameplate capacity with global
energy companies. In aggregate, the fixed fee portion to be paid by
these customers after the COD is in excess of $800.0 million
annually, and these SPAs provide a mechanism to pass through the
commodity risk associated with purchasing natural gas for
liquefaction and operation of the LNG Facility and delivery of LNG.



VITALITY HEALTH: $3.2M Equity from Sponsor ZAM to Fund Plan
-----------------------------------------------------------
Vitality Health Plan of California, Inc. filed with the Bankruptcy
Court a Chapter 11 Plan of Reorganization dated July 23, 2021.  

The Debtor has procured a Sponsor for the Plan, Zephyr Asset
Management, LLC, a Nevada limited liability company.  ZAM will
provide $3.2 million of funding to the Estate in exchange for
complete control and ownership over the Reorganized Debtor.

Under a Reorganization Alternative, the Debtor's going concern will
be preserved, resulting in the Debtor emerging from Chapter 11 as a
Reorganized Debtor, free and clear of all Claims.  Meanwhile, the
$3.2 million Equity Investment funded by the Sponsor to the Estate
will fund payments to Creditors on account of their Claims. In
addition to the Sponsor funding, additional funds may become
available from the prosecution of certain Causes of Action.

In the event the Sponsor is unable to satisfy the Reorganization
Conditions and consummate the Reorganization Alternative, Creditors
will be paid under a Liquidation Alternative, whereby all assets of
the Estate will automatically vest in the Creditor Trust on the
Effective Date, which will be administered and liquidated in an
orderly manner intended to maximize value and fund distributions to
Creditors.

The Classes of Claims and Equity Interests

  * Class 1A The MedImpact Allowed Secured Claim

On the Effective Date, the Class 1A Claim shall, in full and
complete satisfaction thereof, receive payment in full by
offsetting the amount of the Net Q3 Rebates held by MedImpact
Healthcare Systems, Inc. (MedImpact) on behalf of the Debtor
against the Class 1A Claim.

If the balance of the Net Q3 Rebates is greater than the Class 1A
Claim, then MedImpact shall promptly turnover such excess to the
Creditor Trust. If
the balance of the Q3 Rebates is less than the Class 1A Claim, then
the amount of such deficiency shall be included in Class 3A.

  * Class 2 Allowed Unsecured Priority Claims, other than
non-classified claims treated in Article III

On the Effective Date, the holder of the Allowed Class 2 Claim
shall receive from the Debtor either (i) Cash equal to the full
Allowed amount of such Claim on or after the later of the Effective
Date or the date the Claim becomes an Allowed Claim; or (ii) such
other treatment as is consistent with Section 1129(a)(9) of the
Bankruptcy Code.

  * Class 3A Allowed General Unsecured Claims

On the Effective Date, each holder of an Allowed Class 3A Claim
shall, in full satisfaction of its Allowed Class 3A Claim, receive,
free and clear of any claims, liens, rights or security interests,
a pro rata beneficial interest in and distribution from the
proceeds of the Creditor Trust.

  * Class 3B Allowed Claim of Liza Arias

The holder of an Allowed Class 3B Claim shall, in full satisfaction
of its Allowed Class 3B Claim, receive (i) $15,000 cash paid on the
Effective Date; (ii) $122,591 cash paid from TDC National Assurance
Company, the Debtor's insurer, which is anticipated to be paid
prior to the Effective Date pursuant to an order approving a
compromise motion; and (iii) an Allowed Unsecured Claim for
$15,000, which shall be paid as a member of Class 3A pursuant to
the prescribed treatment.   

  * Class 3C Allowed Debtor intercompany claims

Based on the compromise reached between the Debtor and Parent,
Vitality Health Plans, Inc. resolving Parent's Claim against the
Debtor and the disputes between the Debtor and the Parent over the
rights to the Patil Causes of Action, in full satisfaction of the
Allowed Class 3C Claims, the Debtor and Parent agree to the
following:

     a. Transfer of Patil Carveout Claims

The Debtor shall transfer and assign the Patil Carveout Claims to
the Parent in exchange for which, the Parent shall (a) fund, at its
expense, and/or otherwise assume sole and full responsibility for
the management and prosecution of, the litigation of the Patil
Carveout Claims and costs incurred related thereto, and (b) pay to
the Creditor Trust an amount equal to 15% of the gross proceeds
generated from the prosecution of the Patil Carveout Claims.

Patil Carveout Claims consist of all of the Debtor's rights to the
Patil Causes of Action against Patil, except for the Patil
Avoidance Claims, which are specifically excluded from the Patil
Carveout Claims and retained by the Creditor Trust.

The Debtor, by the Patil Litigation, sued Sanjay Patil; Macarthur
Court Acquisition Corp.; Excelera Investment 1, LLC; Connected Care
Health Services Inc.; and Brian Gillan (Case no.
20-1010-01171324-CU-FR-CJC) for (i) Fraudulent Misrepresentation;
(ii) Fraudulent Concealment; (iii) Conversion; (iv) Theft (v)
Unfair and Deceptive Business Practices; and (vi) Constructive
Trust.  

Parent shall not prosecute or seek recovery on account of a Cause
of Action against Patil that is part of, or relates to, a Patil
Avoidance Claim.  In addition, Parent shall reimburse and indemnify
the Debtor's Estate, Creditor Trust, and Creditor Trustee from all
Claims asserted against the Debtor's Estate, Creditor Trust, or
Creditor Trustee arising from, or related to the prosecution of the
Patil Carveout Claims by any party.

     b. Subordination/Waiver of Claims

Holders of the Allowed Class 3C Claims shall, at the discretion of
the Parent, either be extinguished or be subordinated to all Class
3A and Class 3B Allowed General Unsecured Claims, and in either
case, shall not receive any interest in, or distribution from, the
Creditor Trust.

  * Class 4 Allowed Equity Interests in Debtor

In full satisfaction of its Allowed Class 4 Interests, each holder
of an Allowed Class 4 Interest shall receive the following
treatment on the Effective Date: (a) the Class 4 Equity Interests
shall be deemed cancelled; and (b) all of the Estate's rights to,
and interests in, the Patil Carveout Claims shall be transferred,
free and clear of all liens, claims, and interests, to the Parent.


On the Effective Date, new common stock in the Reorganized Debtor
shall be issued to the Sponsor as provided in the Plan.

A copy of the Plan is available for free at https://bit.ly/3ybT8Eu
from PacerMonitor.com.

Counsel for Vitality Health Plan of California, Inc.:

   Garrick A. Hollander, Esq.
   Winthrop Golubow Hollander, LLP
   1301 Dove Street, Suite 500
   Newport Beach, CA 92660
   Telephone: (949) 720-4100
   Facsimile: (949) 720-4111
   Email: ghollander@wghlawyers.com


             About Vitality Health Plan of California

Vitality Health Plan of California, Inc. --
https://www.vitalityhp.net -- is a health insurance company in
Cerritos, California.

Vitality Health Plan of California sought Chapter 11 protection
(Bankr. C.D. Cal. Case No. 20-21041) on December 18, 2020. In the
petition signed by CEO Brian Barry, the Debtor was estimated to
have assets of $1 million to $10 million and liabilities of $10
million to $50 million.

Judge Julia W. Brand oversees the case.

The Debtor tapped Winthrop Golubow Hollander, LLP, led by Garrick
A. Hollander, Esq. as legal counsel, and Crowell & Moring, LLP as
special counsel. Stretto is the claims and noticing agent.


WARDMAN HOTEL OWNER: Sues Marriott Hotel to Seek $7 Mil. Clawback
-----------------------------------------------------------------
Law360 reports that the bankrupt owner of a Washington, D.C. hotel,
Wardman Hotel Owner LLC, has sued Marriott in Delaware court,
saying the debtor should be paid back nearly $7 million in
pre-bankruptcy payments made to the hotel management company.

In its complaint, Wardman Hotel Owner LLC said Marriott Hotel
Services Inc. had mismanaged the 1,152-room hotel for the past
several years, overseeing an 80% drop in revenue from 2010 to 2018
and incurring hundreds of thousands of dollars in unnecessary
expenses after the hotel was shut down in March 2020 due to the
outbreak of COVID-19.

                        About Wardman Hotel Owner

Wardman Hotel Owner, L.L.C., owns Marriott Wardman Park Hotel, a
convention hotel located at 2600 Woodley Road NW, in the Woodley
Park neighborhood of Washington, D.C.

Wardman Hotel Owner, L.L.C., filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 21-10023) on Jan. 11, 2021.  In the
petition signed by James D. Decker, manager, the Debtor estimated
$100 million to $500 million in assets and liabilities.  The Hon.
John T. Dorsey is the case judge.  PACHULSKI STANG ZIEHL & JONES
LLP, led by Laura Davis Jones, is the Debtor's counsel.


WASHINGTON PRIME: Investors Want to Slow Down Bankruptcy Sale
-------------------------------------------------------------
Jeremy Hill of Bloomberg News reports that official advisers to
Washington Prime Group Inc. stockholders, skeptical of the
company's proposed sale to SVPGlobal, are trying to slow down the
mall landlord's bankruptcy.

A government-appointed group of Washington Prime stockholders has
asked Judge Marvin Isgur to extend key deadlines in the insolvency
proceedings by more than a month, arguing in court papers that the
group's advisers don't have enough time to evaluate the real estate
investment trust's Chapter 11 exit plan.  Washington Prime may be
worth more than the plan implies, but more time is needed to figure
that out, the group says.

"This is not a "melting ice cube" case.  There are no financial
obstacles to moving the Combined Hearing.  The Debtors are
cash-flow positive, and the DIP, which does not mature until
December 2021, contains no milestones that would be breached by
moving the Combined Hearing.  Only the Plan Sponsors, who are
seeking to obtain the lion's share of the  Debtors' business
without either providing the Court with a professional valuation
opinion or engaging in a comprehensive marketing process, benefit
from a Combined Hearing before discovery can be completed," the
Official Committee of Equity Security Holders said in court
filings.

"Due process concerns dictate that the OEC be afforded a reasonable
amount of time following its official appointment to adequately
prepare its response to the Debtors' Plan.  In furtherance of these
duties, and consonant with due process concerns, the OEC must be
afforded sufficient time to receive, review, and digest information
relevant to the adequacy of the Disclosure Statement and the
confirmability of the Plan.  Newmark has advised the OEC that it is
impossible to request and review the Debtors' information and
prepare its expert report before the August 12 Combined Hearing,
let alone to provide that report to the Debtors and others, receive
and analyze any rebuttal expert reports, conduct depositions, and,
if necessary, draft a confirmation objection in time for the August
9  objection deadline.  By not allowing a reasonable amount of
time for discovery and analysis before the Combined Hearing, the
Plan Sponsors are seeking to avail themselves of the benefits of
the Bankruptcy Code as a means to acquire the Debtors' business,
but without the statutorily mandated oversight of the OEC.

                   About Washington Prime Group

Washington Prime Group Inc. (NYSE: WPG) --
http://www.washingtonprime.com/-- is a retail REIT and a
recognized leader in the ownership, management, acquisition and
development of retail properties. It combines a national real
estate portfolio with its expertise across the entire shopping
center sector to increase cash flow through rigorous management of
assets and provide new opportunities to retailers looking for
growth throughout the U.S.

Washington Prime Group and its affiliates sought Chapter 11
protection (Bankr. S.D. Texas Lead Case No. 21-31948) on June 13,
2021. At the time of the filing, Washington Prime Group's property
portfolio consists of material interests in 102 shopping centers in
the United States totaling approximately 52 million square feet of
gross leasable area. The company operates 97 of the 102
properties.

As of March 31, 2021, Washington Prime Group had total assets of
$4.029 billion against total liabilities of $3.471 billion.

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as lead bankruptcy counsel; Jackson Walker, LLP
as co-counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; Guggenheim Securities, LLC as investment banker; Deloitte
Tax, LLP as tax services provider; and Ernst & Young, LLP as
auditor. Prime Clerk LLC is the claims agent, maintaining the page
http://cases.primeclerk.com/washingtonprime     

SVPGlobal, the Debtors' lender, tapped Davis Polk & Wardwell, LLP
and Evercore Group, LLC as its legal counsel and investment banker,
respectively.

The official committee of unsecured creditors, which was appointed
June 25, 2021, tapped  Greenberg Traurig, LLP, as counsel.

The official committee of equity holders, which was appointed on
July 15, 2021, tapped Porter Hedges LLP and Brown Rudnick LLP as
counsel.


WEINSTEIN CO: Studio Purchaser Says It Doesn't Owe 'Scream' Profits
-------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Spyglass Media LLC urged a
bankruptcy judge to reject a bid by Harvey Weinstein's brother to
collect $2.3 million in profits from slasher film "Scream 4,"
saying the company had left "behind the scourge of the Weinstein
name" when it bought their defunct movie studio's assets.

Robert Weinstein -- who, along with his criminally convicted
brother, owned "participation interests" from the 2011 movie -- is
demanding that Spyglass, an affiliate of Lantern Entertainment LLC,
turn them over, pursuant to a 2010 employment contract.

But liabilities to the studio's former owners weren't part of the
acquisition, Spyglass said in a July 23, 2021 filing.

                      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.



[^] BOOK REVIEW: The First Junk Bond
------------------------------------
The First Junk Bond: A Story of Corporate Boom and Bust
Author: Harlan D. Platt
Publisher: Beard Books
Softcover: 236 pages
List Price: $34.95

Only one in ten failed businesses is equal to the task of
reorganizing itself and satisfying its prior debts in some fashion.
This engrossing book follows the extraordinary journey of Texas
International, Inc. (known by its New York Stock Exchange stock
symbol, TEI), through its corporate growth and decline, debt
exchange offers, and corporate renaissance as Phoenix Resource
Companies, Inc. As Harlan Platt puts it, TEI "flourished for a
brief luminous moment but then crashed to earth and was consumed."
TEI's story features attention-grabbing characters, petroleum
exploration innovations, financial innovations, and lots of risk
taking.

The First Junk Bond was originally published in 1994 and received
solidly favorable reviews. The then-managing director of High Yield
Securities Research and Economics for Merrill Lynch said that the
book "is a richly detailed case study. Platt integrates corporate
history, industry fundamentals, financial analysis and bankruptcy
law on a scale that has rarely, if ever, been attempted." A retired
U.S. Bankruptcy Court judge noted, "[i]t should appeal as
supplementary reading to students in both business schools and law
schools. Even those who practice.in the areas of business law,
accounting and investments can obtain a greater understanding and
perspective of their professional expertise."

"TEI's saga is noteworthy because of the company's resilience and
ingenuity in coping with the changing environment of the 1980s, its
execution of innovative corporate strategies that were widely
imitated and its extraordinary trading history," says the author.
TEI issued the first junk bond. In 1986 it achieved the largest
percentage gain on the NYSE, and in 1987 suffered the largest
percentage loss. It issued one of the first bonds secured by a
physical commodity and then later issued one of the first PIK
(payment in kind) bonds. It was one of the first vulture investors,
to be targeted by vulture investors later on. Its president was
involved in an insider trading scandal. It innovated strip
financing. It engaged in several workouts to sell off operations
and raise cash to reduce debt. It completed three exchange offers
that converted debt in to equity.

In 1977, TEI, primarily an oil production outfit, had had a
reprieve from bankruptcy through Michael Milken's first ever junk
bond. The fresh capital had allowed TEI to acquire a controlling
interest of Phoenix Resources Company, a part of King Resources
Company. TEI purchased creditors' claims against King that were
subsequently converted into stock under the terms of King's
reorganization plan. Only two years later, cash deficiencies forced
Phoenix to sell off its non-energy businesses. Vulture investors
tried to buy up outstanding TEI stock. TEI sold off its own
non-energy businesses, and focused on oil and gas exploration. An
enormous oil discovery in Egypt made the future look grand. The
value of TEI stock soared. Somehow, however, less than two years
later, TEI was in bankruptcy. What a ride!

All told, the book has 63 tables and 32 figures on all aspects of
TEI's rise, fall, and renaissance. Businesspeople will find
especially absorbing the details of how the company's bankruptcy
filing affected various stakeholders, the bankruptcy negotiation
process, and the alternative post-bankruptcy financial structures
that were considered. Those interested in the oil and gas industry
will find the book a primer on the subject, with an appendix
devoted to exploration and drilling, and another on oil and gas
accounting.

Dr. Harlan D. Platt is a professor of Finance and Insurance at
Northeastern University. He is president of 911RISK, Inc., which
specializes in developing analytical models to predict corporate
distress.  He received a Ph.D. from the University of Michigan, and
holds a B.A. degree from Northwestern University.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Jeffrey L. Dershem
   Bankr. E.D. Pa. Case No. 21-12027
      Chapter 11 Petition filed July 21, 2021
         represented by: Jeffrey Kurtzman, Esq.
                         KURTZMAN STEADY LLC

In re East Coast Construction & Renovations, LLC
   Bankr. N.D.N.Y. Case No. 21-10701
      Chapter 11 Petition filed July 21, 2021
         See
https://www.pacermonitor.com/view/3KJXSQI/East_Coast_Construction__Renovations__nynbke-21-10701__0001.0.pdf?mcid=tGE4TAMA
         represented by: Michael L. Boyle, Esq.
                         BOYLE LEGAL, LLC
                         E-mail: mike@boylebankruptcy.com

In re 43 Harrison Avenue LLC
   Bankr. D. Mass. Case No. 21-11059
      Chapter 11 Petition filed July 22, 2021
         See
https://www.pacermonitor.com/view/LAZENIA/43_Harrison_Avenue_LLC__mabke-21-11059__0001.0.pdf?mcid=tGE4TAMA
         represented by: Peter M. Daigle, Esq.
                         DAIGLE LAW OFFICE
                         E-mail: pmdaigleesq@yahoo.com

In re Lyons Development Enterprises, LLC
   Bankr. M.D. Fla. Case No. 21-01797
      Chapter 11 Petition filed July 22, 2021
         See
https://www.pacermonitor.com/view/5J4SUEA/Lyons_Development_Enterprises__flmbke-21-01797__0001.0.pdf?mcid=tGE4TAMA
         represented by: Rehan N. Khawaja, Esq.
                         BANKRUPTCY LAW OFFICES OF
                         REHAN N. KHAWAJA
                         E-mail: khawaja@fla-bankruptcy.com

In re Woodstock Landscaping & Excavating, LLC
   Bankr. S.D.N.Y. Case No. 21-35565
      Chapter 11 Petition filed July 22, 2021
         See
https://www.pacermonitor.com/view/VVDGICA/Woodstock_Landscaping__Excavating__nysbke-21-35565__0001.0.pdf?mcid=tGE4TAMA
         represented by: Michael D. Pinsky, Esq.
                         LAW OFFICE OF MICHAEL D. PINSKY, P.C.
                         E-mail: michael.d.pinsky@gmail.com

In re Dep Lashes, LLC
   Bankr. N.D. Tex. Case No. 21-31323
      Chapter 11 Petition filed July 22, 2021
         See
https://www.pacermonitor.com/view/GWT6ZNQ/Dep_Lashes_LLC__txnbke-21-31323__0001.0.pdf?mcid=tGE4TAMA
         represented by: Areya Holder Aurzada, Esq.
                         HOLDER LAW
                         E-mail: areya@holderlawpc.com

In re Jessica Escott
   Bankr. N.D. Ala. Case No. 21-01717
      Chapter 11 Petition filed July 22, 2021
         represented by: July 22, 2021

In re Mark Alan Forrest
   Bankr. E.D. Cal. Case No. 21-11814
      Chapter 11 Petition filed July 22, 2021
         represented by: Leonard Welsh, Esq.

In re Arts for a Cause, LLC
   Bankr. E.D. Ky. Case No. 21-30189
      Chapter 11 Petition filed July 23, 2021
         See
https://www.pacermonitor.com/view/VIA32XA/Arts_for_a_Cause_LLC__kyebke-21-30189__0001.0.pdf?mcid=tGE4TAMA
         represented by: Michael W. McClain, Esq.
                         GOLDBERG SIMPSON LLC
                         E-mail: mmcclain@goldbergsimpson.com
                               sdaniel-harkins@goldbergsimpson.com

In re Diversified Franchise Group, Inc.
   Bankr. D. Nev. Case No. 21-13666
      Chapter 11 Petition filed July 23, 2021
         See
https://www.pacermonitor.com/view/V5ISJAA/Diversified_Franchise_Group_Inc__nvbke-21-13666__0001.0.pdf?mcid=tGE4TAMA
         represented by: Gregory L. Wilde, Esq.
                         WILDE & ASSOCIATES, LLC
                         E-mail: greg@wildelawyers.com

In re Martin NMN Schwartz and Roberta Irene Korte
   Bankr. S.D. Cal. Case No. 21-02998
      Chapter 11 Petition filed July 23, 2021
         represented by: John Smaha, Esq.
                         SMAHA LAW GROUP, APC

In re Joseph Izik
   Bankr. E.D.N.Y. Case No. 21-41879
      Chapter 11 Petition filed July 23, 2021
         represented by: Alla Kachan, Esq.

In re Shawn Jensen and Carmela Jensen
   Bankr. D. Kan. Case No. 21-10698
      Chapter 11 Petition filed July 23, 2021
         represented by: Dan Forker, Esq.

In re Jeffrey Wayne Aunspaugh and Angela Kay Aunspaugh
   Bankr. S.D. Fla. Case No. 21-17189
      Chapter 11 Petition filed July 25, 2021

In re CHAB Development, LLC
   Bankr. E.D. Mo. Case No. 21-42749
      Chapter 11 Petition filed July 26, 2021
         See
https://www.pacermonitor.com/view/RY3QPOY/CHAB_Development_LLC__moebke-21-42749__0001.0.pdf?mcid=tGE4TAMA
         represented by: Spencer P. Desai, Esq.
                         CARMODY MACDONALD P.C.
                         E-mail: spd@carmodymacdonald.com

In re Black River Motel, LLC
   Bankr. E.D. Mo. Case No. 21-10358
      Chapter 11 Petition filed July 26, 2021
         See
https://www.pacermonitor.com/view/RROF5JY/Black_River_Motel_LLC__moebke-21-10358__0001.0.pdf?mcid=tGE4TAMA
         represented by: Spencer P. Desai, Esq.
                         CARMODY MACDONALD P.C.
                         E-mail: spd@carmodymacdonald.com

In re Stanley Albert Brezinski and Pamela Ann Brezinski
   Bankr. E.D.N.C. Case No. 21-01661
      Chapter 11 Petition filed July 26, 2021
         represented by: Danny Bradford, Esq.

In re Shaheryar Khan
   Bankr. C.D. Cal. Case No. 21-15993
      Chapter 11 Petition filed July 26, 2021
         represented by: Kim S. Collins, Esq.

In re She Flips Too, Inc
   Bankr. N.D. Ga. Case No. 21-55551
      Chapter 11 Petition filed July 27, 2021

In re Felice Thomas Altebrando
   Bankr. M.D. Fla. Case No. 21-00968
      Chapter 11 Petition filed July 27, 2021
         represented by: Brian Behar, Esq.

In re Stephen Michael Sewalk and Yauheniya Sewalk
   Bankr. D. Colo. Case No. 21-13895
      Chapter 11 Petition filed July 28, 2021
         represented by: Anthony Garcia, Esq.


                            *********

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
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                   *** End of Transmission ***