/raid1/www/Hosts/bankrupt/TCR_Public/210816.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, August 16, 2021, Vol. 25, No. 227

                            Headlines

218 JACKSON: Obtains Interim OK to Use Cash Collateral
ACEMBLY INC: Case Summary & 12 Unsecured Creditors
AGILON ENERGY: Taps Energy Resource Management as Investment Banker
ALLIANCE TRANSPORTATION: Ceases Operations, Files for Chapter 7
ALLIED FINANCIAL: Gen. Unsecureds Get 3% of Allowed Claim in Plan

AMERICAN NATIONAL: Seeks to Hire Patrick C. Shields as Accountant
AMSTERDAM HOUSE: Files Documents Backing Restructuring Plan
ARBORETUM CROSSING: Taps Fishman Jackson as Bankruptcy Counsel
ARRAY TECHNOLOGIES: Moody's Affirms B1 CFR, Outlook Stable
ASPIRA WOMEN'S: Incurs $7.1 Million Net Loss in Second Quarter

ATLANTIC WORLDWIDE: Taps Lane Law Firm as Bankruptcy Counsel
AVIANCA HOLDINGS: Avianca Unsecureds to Get Share of New Equity
B. AVERY SALON: Gets 6-Month Access to Cash Collateral
BATH & BODY: Moody's Hikes CFR to Ba2 & Alters Outlook to Positive
BEAZER HOMES: Moody's Raises CFR to B2 & Alters Outlook to Stable

BEZH SERVICES: Menucha Gets OK to Hire Kutner Brinen as Counsel
BOY SCOUTS OF AMERICA: In Talks With Troops Sponsors for Ch.11 Deal
BOY SCOUTS OF AMERICA: Judge Begins Key Bankruptcy Case Hearing
CARBON AND CLAY: Unsecureds to Recover 12% or 5% in Plan
CARVANA CO: S&P Rates New $750MM Senior Unsecured Notes 'CCC+'

CBL & ASSOCIATES: Gets Plan Confirmation Over Equity Objection
CEN BIOTECH: Incurs $15.5 Million Net Loss in Second Quarter
CHANNEL CLARITY: Wins OK to Use Cash Collateral Thru Sept. 3
CHEF'S WAREHOUSE: Moody's Alters Outlook on B3 CFR to Stable
CHESAPEAKE ENERGY: S&P Places 'B+' ICR on CreditWatch Positive

CHZAC LLC: Seeks Court Approval to Retain Manager
CITIUS PHARMACEUTICALS: Incurs $5.8 Million Net Loss in 3rd Quarter
CPG INTERMEDIATE: S&P Places 'B' ICR on Watch Negative on IPS Sale
CRYSTAL FOUNTAIN: Unsec. Creditors to Get $2K per Year for 2 Years
DARREN MARTIN: Taps  Adrienne Martin as Real Estate Agent

DECO-USA, LLC: Unsecureds to Recover 100% in Amended Plan
DIFFUSION PHARMACEUTICALS: Incurs $3.8M Net Loss in 2nd Quarter
DIRECTV HOLDINGS: S&P Lowers Unsecured Debt Rating to 'B'
DREAM DUFFEL: Case Summary & 8 Largest Unsecured Creditors
EAST PENN CHILDREN'S: Has Until Oct. 12 to File Chapter 11 Plan

EASTERDAY RANCHES: Tyson Seeks Control of Feedlot From Agri Beef
EHT US1 LLC: Unpaid Potter Anderson to Exit Ch.11 Counsel Role
ELECTRONIC DATA: May Use Cash Collateral Thru August 24 Hearing
ENDICOTT MEATS: $548K Sale to Japan Premium to Fund Plan
ENERGY ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors

EVOKE PHARMA: Incurs $2.3 Million Net Loss in Second Quarter
FIVETOWER LLC: Seeks to Hire Pinchasik Yelen as Accountant
FIVETOWER LLC: Taps Dinnall Fyne & Co. as Financial Advisor
FOSSIL GROUP: S&P Alters Outlook to Stable, Affirms 'B' ICR
FRS GROUP: Gets Court Approval to Use Cash Collateral

FULL HOUSE RESORTS: Posts $5.5 Million Net Income in Second Quarter
GAIA INTERACTIVE: Unsecureds Out of Money in Subchapter V Plan
GENWORTH HOLDINGS: Moody's Gives (P)Caa1 Rating on Unsecured Debt
GIRARD & KEESE: Erika's Move to Remove Investigating Lawyer Stopped
GREATBATCH LTD: Moody's Ups CFR to Ba3, Outlook Stable

GRUPO AEROMEXICO: Gibson Dunn Represents Claimholders
HB FULLER: Fitch Affirms 'BB' LT IDR & Alters Outlook to Positive
HIGHTOWER HOLDING: Moody's Affirms B3 CFR, Outlook Stable
HIGHTOWER HOLDING: S&P Alters Outlook to Stable, Affirms 'B-' ICR
HILLTOP AT DIA: Pan-Am Buying 134-Acre Aurora Land for $20M

HOLOGENIX LLC: Taps Theodora Oringher as Special Litigation Counsel
HOUSEHOLD OF FAITH: Seeks to Tap Pope Law Firm as Legal Counsel
HOVNANIAN ENTERPRISES: Moody's Hikes CFR to Caa1, Outlook Positive
INTEGER HOLDINGS: S&P Upgrades ICR to 'BB-' on Deleveraging
ISLAND VIEW: Trustee Taps Valbridge Property as Appraiser

ISLET SCIENCES: Creditors Decry $442M Asset Valuation
KETTNER INVESTMENTS: All Classes Unimpaired in Plan
LAROSE HOSPITALITY: Unsecureds to Get $2.5K Per Month for 5 Years
LIMETREE BAY: Has Cash Access, Sale Hearing Set for Oct. 19
LIVE NATION: Moody's Affirms B2 CFR & Alters Outlook to Stable

MEDLEY LLC: Strategic Capital Says Disclosure Statement Inadequate
METHANEX CORP: Moody's Affirms Ba1 CFR & Alters Outlook to Stable
MICHAEL A. GLEIBER: Seeks to Hire Maureen Catalano as Tax Preparer
MOBITV INC: September 22 Plan & Disclosure Hearing Set
MR. CAMPER: Seeks to Use Cash Collateral Thru Sept. 1

MURCIA GROUP: Seeks to Hire Saladrigas Law Center as Legal Counsel
NEW HOLLAND: Case Summary & 3 Unsecured Creditors
NORTONLIFELOCK INC: Fitch Affirms 'BB+' LT IDR, Outlook Stable
NTH SOLUTIONS: May Use Cash Collateral Through Sept. 15
OAKLAWN HOSPITAL: Moody's Affirms Ba1 Rating, Outlook Stable

OBLONG INC: Incurs $2.3 Million Net Loss in Second Quarter
PANBELA THERAPEUTICS: Incurs $2.2-Mil. Net Loss in Second Quarter
PARAISO OCEAN: Seeks to Hire Mark S. Roher as Legal Counsel
PORT ARTHUR: Seeks to Hire Neal Law Group as Special Counsel
PULMATRIX INC: Incurs $3.9 Million Net Loss in Second Quarter

PURDUE PHARMA: Chapter 11 Trial Opens With Sackler Releases Attacks
PURDUE PHARMA: Chapter 11 Trial Tests Bankruptcy Power's Limit
PURDUE PHARMA: Supporting States Say Sacklers Releases Fair
RANDOLPH HOSPITAL: Unsecureds to Share Pro Rata of Net Trust Assets
RIVERFRONT CRUISE: Taps Richard R. Robles as Legal Counsel

RIVERROCK RECYCLING: Case Summary & 20 Top Unsecured Creditors
ROLLING MEADOWS: Fitch Rates $12MM Series 2021 Revenue Bonds 'BB+'
ROMAN CATHOLIC CHURCH: Seeks Approval to Hire Del Rio Surveys
ROSA MOSAIC & TILE: Hits Chapter 11 Bankruptcy Protection
SAGE ECOENTERPRISES: Unsecureds Share Pro Rata of $126K in Plan

SEADRILL LIMITED: Eyes January 2022 to Exit Bankruptcy
SEAWORLD PARKS: Moody's Rates New Senior Unsecured Notes 'Caa1'
SEAWORLD PARKS: S&P Rates New $825MM Senior Unsecured Notes 'B-'
SENIOR HEALTHCARE INC: C Store Seeks Prohibition to Cash Access
SEVERIN HOLDINGS: S&P Alters Outlook to Positive, Affirms 'B-' ICR

SHAAN AND KHAN: Seeks to Tap Pope Law Firm as Legal Counsel
SHAKY TOWN: Unsecured Creditors to Get $12,500 Per Year for 5 Years
SOURCE HOTEL: Reid & Wise Represents EB5 Investors
SOUTHWESTERN ENERGY: Moody's Rates New Sr. Unsecured Notes 'Ba3'
SPECTRUM LINK: Case Summary & 20 Largest Unsecured Creditors

SYNRGY CORP: Case Summary & 12 Unsecured Creditors
TGS HOSPITALITY: $200K Infusion to Release Equity Holders in Plan
THUNDERBIRD GLOBAL: Taps Roetzel & Andress as Special Counsel
TOWNE & TERRACE: Unsecureds to Get Share of Income for 3 Years
TREEHOUSE FOODS: S&P Lowers ICR to 'B+', Outlook Stable

URGENT CARE: Seeks to Hire Heling & Associates as Accountant
VESTAVIA HILLS: Refutes Commonwealth's Objection to Disclosures
VESTAVIA HILLS: Responds to Wells Fargo Disclosures Objection
VESTAVIA HILLS: Unsecureds to be Paid Fully in 2 Years in Plan
VINE ENERGY: Fitch Places 'B' LongTerm IDR on Watch Positive

VINE ENERGY: S&P Places 'B-' Issuer Credit Rating on Watch Pos.
VISTAGEN THERAPEUTICS: Posts First Quarter Net Loss of $7.7-Mil.
VITA CRAFT: Convenience Claim Holders to Recover 50% in Plan
WASHINGTON PRIME: Vinson, Wachtell Update on Term Lenders
WIRTA HOTELS: Case Summary & 8 Unsecured Creditors

WOLVERINE WORLD: Moody's Rates New $550MM Unsecured Notes 'Ba2'
WOLVERINE WORLD: S&P Rates New $550MM Senior Unsecured Notes 'BB'
YIELD10 BIOSCIENCE: Incurs $3.1 Million Net Loss in Second Quarter
[*] Executives of Bankrupt U.S. Drillers Received $199 Mil. in Cash
[*] Insurers Misuse Proof of Claim Forms in Tort Bankruptcies

[^] BOND PRICING: For the Week from August 9 to 13, 2021

                            *********

218 JACKSON: Obtains Interim OK to Use Cash Collateral
------------------------------------------------------
Judge Lori V. Vaughan of the U.S. Bankruptcy Court for the Middle
District of Florida authorized 218 Jackson LLC to use cash
collateral, on an interim basis, to pay for:

   * the current and necessary expenses set forth in the approved
budget;

   * amounts expressly authorized by the Court, including payments
to the U.S. Trustee for quarterly fees; and

   * additional amounts expressly approved in writing by National
Loan Acquisitions Company (NLAC).

The approved budget provided for $4,853 in total expenses.  The
Court ruled that payments for management fee shall not exceed 15%
of the gross receipts received by the Debtor.  

The Debtor may use the cash collateral until August 24, 2021 at
11:30 a.m. at which time the Court will continue the hearing on the
motion.

NLAC shall have perfected post-petition liens against cash
collateral to the same extent and with the same validity and
priority as the prepetition lien, without the need to file or
execute any documents as may otherwise be required under applicable
non-bankruptcy law.

A copy of the interim order is available for free at
https://bit.ly/3CPi87h from PacerMonitor.com.

                       About 218 Jackson LLC

218 Jackson LLC sought protection under Chapter 11 of the
Bankruptcy Code on March 8, 2021 (Bankr. M.D. Fla. Case No.
21-00983).  The petition was signed by Amos Vizer, member of
TwoChi, LLC.  As of January 31, 2020, the Debtor had total assets
in the amount of $1,283,900 and total liabilities in the amount of
$41,287,387.

Judge Lori V. Vaughan oversees the case.

The Debtor is represented by Justin M. Luna, Esq. and Daniel A.
Velasquez, Esq., at Latham, Luna, Eden & Beaudine, LLP.



ACEMBLY INC: Case Summary & 12 Unsecured Creditors
--------------------------------------------------
Debtor: Acembly, Inc., a Delaware corporation
        177 E. Colorado Blvd. #200
        Pasadena, CA 91105

Business Description: Acembly, Inc. -- https://acembly.com --
                      offers cloud and storage SaaS application
                      services to IT and Media groups.

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-16465

Debtor's Counsel: M. Douglas Flahaut, Esq.
                  ARENT FOX LLP
                  555 West Fifth Street, 48th Floor
                  Los Angeles, CA 90013-1065
                  Tel: 213-629-7400
                  Fax: 213-629-7401
                  E-mail: Douglas.Flahaut@arentfox.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeff Bearden as chief executive
officer.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 12 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/FDCOS4I/Acembly_Inc_a_Delaware_corporation__cacbke-21-16465__0001.0.pdf?mcid=tGE4TAMA


AGILON ENERGY: Taps Energy Resource Management as Investment Banker
-------------------------------------------------------------------
Agilon Energy Holdings II, LLC and its affiliates seek approval
from the U.S. Bankruptcy Court for the Southern District of Texas
to employ Energy Resource Management, LLC as their investment
banker.

The firm's services include:

     a. reviewing and analyzing the Debtors' historical operations,
financial condition, business strategy and operating forecasts;

     b. assisting in the identification, development and
implementation of strategies related to the potential recoveries
for the Debtors;

     c. assisting in evaluating, structuring and negotiating the
terms and conditions of any proposed transaction, including the
value of the securities, if any, that may be issued thereunder;

     d. supporting the development of marketing and diligence
materials and identification of prospective acquirers for any asset
sale process or other transaction;

     e. marketing the asset sale or other transaction to an agreed
list of targets;

     f. assisting in evaluating the terms, conditions and impact of
any proposed asset sale transactions;

     g. supporting the negotiation of documentation in connection
with any transaction; and

     h. providing general financial advice and related services.

Energy Resource Management will be paid as follows:

     a. A monthly fee of $30,000 payable upon the entry of an order
by the bankruptcy court approving the engagement, provided that the
amount of aggregated monthly fees in excess of $150,000 will be
credited toward and will reduce the completion or success fee
payable to Energy Resource Management. The first monthly fee
payable upon approval by the bankruptcy court will be prorated
based on the number of days remaining in that month;

     b. A completion or success fee payable upon the consummation
of a transaction whether by restructuring, sale, merger, joint
venture or investment in the amount of $500,000, plus 2 percent of
the transaction value in excess of $50 million; and

     c. A monthly reimbursement of out-of-pocket expenses incurred.
Expenses exceeding $1,000 will be incurred only to the extent
included in the approved budget for any debtor-in-possession
financing or with prior written consent of the lenders.

As disclosed in court filings, Energy Resource Management is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     Craig J. Orchant
     Energy Resource Management, LLC
     dba ERM Capital and Independent Brokerage Solutions LLC
     1120 Avenue of the Americas (43/44th Streets), Suite 1513
     New York, NY 10036  
     Phone: 646-661-1380
     Email: info@ermcap.com

                    About Agilon Energy Holdings

Texas-based power producer Agilon Energy Holdings II, LLC and its
affiliates, Victoria Port Power LLC and Victoria City Power LLC,
sought Chapter 11 protection (Bankr. S.D. Texas Lead Case No.
21-32156) on June 27, 2021.  At the time of the filing, Agilon had
between $100 million and $500 million in both assets and
liabilities.  

Judge Marvin Isgur oversees the cases.

The Debtors tapped Locke Lord, LLP as legal counsel, Grant
Thornton, LLP as financial advisor and Hugh Smith Advisors, LLC as
restructuring advisor.  Hugh Smith of Hugh Smith Advisors serves as
the Debtors' chief restructuring officer.  Stretto is the claims
and noticing agent.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on July 30,
2021.  Pachulski Stang Ziehl & Jones, LLP and Conway MacKenzie, LLC
as legal counsel and financial advisor, respectively.


ALLIANCE TRANSPORTATION: Ceases Operations, Files for Chapter 7
---------------------------------------------------------------
Clarissa Hawes of Freight Waves reports that a Texas transportation
company and its affiliates that contracted with the federal
government to move and store household goods for military service
members and their families has ceased operations and filed Chapter
7 bankruptcy.

The Alliance Transportation Services website states it was a
"one-stop" transportation provider and was a General Services
Administration-approved moving and storage company.

The U.S. Department of Defense's largest joint base -- Lackland Air
Force Base, Randolph Air Force Base, Fort Sam Houston and Camp
Bullis -- is headquartered in San Antonio.

In its filing, the transportation company and its affiliates list
assets and liabilities as between $1 million and $10 million. The
company states it has up to 199 creditors and maintains that no
funds will be available for distribution to unsecured creditors.

According to Alliance Transportation Service's financials, its
gross revenues from Jan. 1 until its bankruptcy filing are $1.7
million.  Its petition states the company made $4 million in 2020
and nearly $4.9 million in 2019.

The Chapter 7 petition states it owes nearly $5 million to two
secured creditors, including Rawhide Industries LLC of San Antonio
and The Bank of San Antonio.

Tim Brierty is listed as the owner of the three companies. As of
publication, Brierty’s attorney, Raymond Battaglia, did not
respond to FreightWaves' request seeking comment.

Alliance Transportation Services had seven power units and eight
drivers, according to the Federal Motor Carrier Safety
Administration’s website. However, it was not authorized for
intrastate moves, according to the Texas Department of Motor
Vehicles website.

Its affiliate, Lone Star Relocation Services, had 16 power units
and 8 drivers. The company's household goods common carrier
authority was active at the time of its closure, according to the
FMCSA.

In its petition, the company states that most of the items held in
its storage facility represent the household goods of U.S.
servicemen and women and their families through its military
contract U.S. Transportation Command, a branch of the Department of
Defense.

            About Alliance Transportation Services

Alliance Transportation Services is a Texas household goods
trucking company and military contractor.

Based in San Antonio, Texas, Alliance Transportation Services LLC,
filed a Chapter 7 bankruptcy petition (Bankr. W.D. Tex. Case No.
21-50987) on August 9, 2021.
Affiliates Five Star Warehouses LLC and Lone Star Relocation
Services LLC also sought Chapter 7 bankruptcy (Case No. 21-50988
and 21-50986).

The cases are handled by Honorable Judge Craig A Gargotta.  

Raymond W. Battaglia, of the Law Offices Of Ray Battaglia, PLLC, is
the Debtors' counsel.

John Patrick Lowe has been selected as Chapter 7 trustee for
Alliance Transportation.


ALLIED FINANCIAL: Gen. Unsecureds Get 3% of Allowed Claim in Plan
-----------------------------------------------------------------
Allied Financial, Inc. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico a Second Amended Plan of Reorganization
dated August 6, 2021.  

Funding of the Plan for the Settlement Agreement will be provided
by Allied Management Group, Inc. as per the terms of a Settlement
Agreement.  Additional funding for the Plan will be provided by the
sale of the Debtor's assets and collection of accounts receivables.
In addition, some claimants may receive the collateral itself as
payment of its equivalent of the allowed secured claim, unless
otherwise agreed.  The Debtor's shareholders will also provide
other sources to fund the Plan, directly or through related
parties, if necessary, including additional capital contribution.

Classes of Claims and Interest under the Plan

  * Class 1 Administrative Claims

This class shall consist of all allowed administrative expense
priority claims, including fees to the U.S. Trustee, fees and
expenses of the Debtor's counsel, accountant and other
professionals retained by the Debtor.  Debt under this class is
approximately $25,000.

  * Class 2 Priority Administrative Claim Held by Allied Management
Group, Inc.

Class 2 consists of all allowed administrative expense priority
claims on account of the postpetition financing by Allied
Management Group, Inc.  As of August 6, 2021, the amount of secured
postpetition financing is $180,000.  

  * Class 3 Centro de Recaudacion de Ingresos Municipales (CRIM)

CRIM, the Municipal Revenues Collection Center of Puerto Rico,
filed a proof of claim in the total secured amount of $1,187 for
real property tax with a lien on 14 real estate properties
belonging to the Debtor.

  * Class 4 Secured Creditor: Oriental Bank (now WM Capital
Partners 76 LLC)

Oriental Bank filed a proof of claim for $629,564.  The Debtor
listed Oriental Bank as a secured creditor holding a lien over 13
real estate properties of the Debtor or a Debtor's client.  With
the acquiescence of Oriental Bank, the Debtor sold properties that
serve as collateral and paid Oriental Bank the net proceeds.  This
Claim was transferred to WM Capital Partners 76, LLC.

Thereafter, WM Capital Partners 76 LLC filed an amended proof of
claim totaling $277,880, which was later adjusted to $232,816 by
mutual agreement of the parties.  The Debtor was able to sell two
more properties encumbered by the liens, and the net proceeds of
such sales were tendered to WM Capital Partners 76, LLC.  Pursuant
to a Settlement Agreement, the agreed amount of the claim is
$156,349, with a secured portion of $66,000 and $90,349 as general
unsecured claim.

  * Class 5 Secured Creditor: WM Capital Partners 53, LLC

The Debtor listed WM Capital Partners 53, LLC as a secured creditor
holding various mortgages over four real estate properties of the
Debtor or the Debtor's clients.  WM Capital Partners 53, LLC filed
a claim for $1,950,310 as fully secured.  After an amendment to the
Claim on April 30, 2021, balance of the claim total $1,750,310 of
which $766,000 is secured and the unsecured portion was reduced to
$984,310.  Treatment of the Claim under the Plan is provided as set
forth in a Settlement Agreement.

  * Class 6 RG Premier Bank (RG)/or Current Holder

The Debtor listed RG Premier Bank with an unliquidated secured
claim for $77,763 holding a lien over a certain property in
Guaynabo, Puerto Rico. The Debtor concluded foreclosure proceedings
over the property which guaranteed the Debtor's loan to RG, but
there is an apparent track problem at the Property Registry,
impeding the acquisition of title over the Property.  RG Premier
did not file a proof of claim.

  * Class 7 Priority Unsecured Claims

The Debtor listed unsecured priority claims aggregating $46,298,
which includes priority claims of CRIM, Departamento de Hacienda
and Municipality of San Juan.  After reconciliation, however,
correct amount owed is $12,066.  

  * Class 8 General Unsecured Claims from Governmental Units and
Taxing Authorities

Class 8 includes the unsecured debt to Departamento de Hacienda,
CRIM, Municipality of San Juan and State Insurance Fund for
$33,141.  

  * Class 9 General Unsecured Creditors

As of August 6, 2021, Class 9 amounts to $50,662 representing
general unsecured claims that are not contingent, disputed and/or
unliquidated.  Claims under Class 9 will be paid 3% of its allowed
claim in equal monthly installments within 36 months from the
Effective Date.

  * Class 10 Contingent, Disputed and/or Unliquidated General
Unsecured Claims

The debt under this class is approximately $1,074,659.

  * Class 11 Equity Security and/or Other Interest Holders

Class 11 includes all equity and interest holders of the Debtor's
stock, i.e. Rafael Portela and Jose R. Armstrong.

A copy of the Second Amended Plan is available for free at
https://bit.ly/3ABj0e2 from PacerMonitor.com.

                      About Allied Financial

Allied Financial, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-00180) on Jan. 15, 2016.  At the time of
the filing, the Debtor disclosed total assets of $10.3 million and
total debt of $9.14 million.  Judge Mildred Caban Flores oversees
the case.  C. Conde & Assoc. is the Debtor's legal counsel.



AMERICAN NATIONAL: Seeks to Hire Patrick C. Shields as Accountant
-----------------------------------------------------------------
American National Carbide Co. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire Patrick
C. Shields, PC as its accountant.

The firm's hourly rates are as follows:

     Patrick Shield, CPA     $275 per hour
     Vanessa Miller          $175 per hour
     Marcella Evans          $110 per hour
     Amy Shields             $95 per hour

As disclosed in court filings, Patrick C. Shields is a
disinterested person within the definition of Section 101 (14) of
the Bankruptcy Code.

The firm can be reached through:

     Patrick Shield, CPA
     Patrick C. Shields, PC
     33254 Hannibal Rd
     Fulshear, TX 77441
     Phone: (281) 346-1240
     Fax: (281) 346-2746
     Email: pat@pshields.com

                  About American National Carbide

Tomball, Texas-based American National Carbide Co. --
http://anconline.com-- is a vertically integrated manufacturer of
cemented tungsten carbide products for a wide range of industries,
including metalworking, oil and gas, and wood processing, as well
as zinc reclaim powders and ready-to-press grade powders.

American National Carbide filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No.
21-31050) on March 26, 2021.  Greg Stroud, president, signed the
petition.  At the time of the filing, the Debtor disclosed
$1,492,225 in assets and $3,969,983 in liabilities.  

Judge David R. Jones oversees the case.

Attorney Donald Wyatt, PC and Patrick C. Shields, PC serve as the
Debtor's legal counsel and accountant, respectively.


AMSTERDAM HOUSE: Files Documents Backing Restructuring Plan
-----------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc., filed
with the U.S. Bankruptcy Court for the Eastern District of New York
a Supplement to its First Amended Plan of Reorganization.  The Plan
Supplement consisted of (i) an Assumption Schedule and (ii) a
Rejection Schedule with respect to contracts; (iii) Opinion of Bond
Counsel Regarding the Series 2021 Bonds; (iv) Member Contribution
Agreement and (v) a Liquidity Support Agreement (LSA).

The Member Contribution Agreement disclosed that, pursuant to a
Plan Support Agreement, Amsterdam Continuing Care Health System,
Inc. (ACCHS), the Debtor's sole member, has agreed to contribute to
the restructuring $9,000,000 to fund the balance of the Debtor's
minimum liquid reserve requirements (MLRR), absent the
contribution, the Consenting Holders of Series 2014 Bonds would not
have agreed to fund the New Money and participate in the
Restructuring.

As of June 14, 2021, the Debtor and certain holders of Series 2014
Bonds entered into a Plan Support Agreement with respect to the
implementation of the restructuring of the Debtor's financial
obligations under the Series 2014 Bonds.  The Consenting Holders
have agreed to fund an additional $40,170,000 in new money bond
financing through the purchase of the new Series 2021A Bonds to
provide for (i) the payment of all outstanding entrance fee refunds
in full; (ii) partial funding of the Debtor's minimum liquid
reserve requirements under applicable New York State law; (iii) the
costs of the Restructuring; and (iv) a necessary debt service
reserve fund.

The Debtor and ACCHS are the parties to the LSA entered June 14,
2021.  The Debtor filed its Chapter 11 petition on June 14.

A copy of the Plan Supplement is available for free at
https://bit.ly/2UitteU from Kurtzman Carson Consultants, claims
agent.

Counsel for the Debtor:

   Thomas R. Califano, Esq.
   William E. Curtin, Esq.
   Shafaq Hasan, Esq.
   Sidley Austin LLP
   787 Seventh Avenue
   New York, NY 10019
   Telephone: (212) 839-5300
   Facsimile: (212) 839-5599
   Email: tom.califano@sidley.com
          wcurtin@sidley.com
          shafaq.hasan@sidley.com

          - and -

   Jackson T. Garvey, Esq.
   Sidley Austin LLP
   One South Dearborn
   Chicago, IL 60603
   Telephone: (312) 853-7000
   Facsimile: (212) 853-7036
   Email: jgarvey@sidley.com

Counsel for Amsterdam Continuing Care Health System, Inc. (ACCHS):

   Ted A. Berkowitz, Esq.
   Moritt Hock & Hamroff LLP
   1407 Broadway, 39th Floor
   New York, NY 10018
   Telephone: (212) 239-2000 Ext. 276
   Facsimile: (212) 239-7277
   Email: tberkowitz@moritthock.com

            - and -
  
   Allison Arotsky, Esq.
   Moritt Hock & Hamroff LLP
   400 Garden City Plaza
   Garden City, NY 11530
   Telephone: (516) 873-2000 Ext. 169
   Facsimile: (516) 873-2010
   Email: aarotsky@moritthock.com

               About Amsterdam House Continuing Care

Amsterdam House Continuing Care Retirement Community, Inc. (doing
business as The Amsterdam at Harborside) operates Nassau County's
first and only continuing care retirement community licensed under
Article 46 of the New York Public Health Law, which provides
residents with independent living units, enriched housing and
memory support services, comprehensive licensed skilled nursing
care, and related health, social, and quality of life programs and
services.

Amsterdam House Continuing Care Retirement Community filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 21-71095) on June 14, 2021. James
Davis, president and chief executive officer, signed the petition.
At the time of the filing, the Debtor had between $100 million and
$500 million in both assets and liabilities.

Judge Louis A. Scarcella oversees the case.

The Debtor tapped Sidley Austin, LLP as legal counsel and RBC
Capital Markets, LLC as investment banker.  Kurtzman Carson
Consultants, LLC is the Debtor's claims and noticing agent and
administrative advisor.


ARBORETUM CROSSING: Taps Fishman Jackson as Bankruptcy Counsel
--------------------------------------------------------------
Arboretum Crossing, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to employ Fishman Jackson
Ronquillo, PLLC to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     a. serving as attorney of record for the Debtor in all
aspects;

     b. providing representation and legal advice to the Debtor
throughout the bankruptcy case;

     c. assisting the Debtor in carrying out its duties under the
Bankruptcy Code;

     d. consulting with the U.S. trustee, any statutory committee
that may be formed, and all other creditors and parties in interest
concerning administration of the case;

     e. assisting in the possible sale of the Debtor's assets;

     f. preparing legal papers;

     g. assisting the Debtor in connection with formulating and
confirming a Chapter 11 plan, if necessary;

     h. assisting the Debtor in analyzing and appropriately
treating the claims of creditors;

     i. appearing before the bankruptcy court, any appellate courts
or other courts having jurisdiction over any matter associated with
the bankruptcy case; and

     j. performing all other necessary legal services.

The firm's hourly rates are as follows:

     Mark H. Ralston     $400 per hour
     Shirley James       $140 per hour
     Attorneys           $300 - $450 per hour
     Paraprofessionals   $135 - $175 per hour

Mark Ralston, Esq., at Fishman Jackson, disclosed in a court filing
that his firm is a "disinterested person" as defined by Bankruptcy
Code Section 101(14).

The firm can be reached through:

      Mark H. Ralston
      Fishman Jackson Ronquillo, PLLC
      Three Galleria Tower
      13155 Noel Road, Suite 700
      Dallas, TX 75240
      Telephone: (972) 419-5544
      Facsimile: (972) 4419-5501
      Email: mralston@fjrpllc.com

                 About Arboretum Crossing LLC

Arboretum Crossing LLC, an Austin, Texas-based company primarily
engaged in renting and leasing real estate properties, filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Texas Case No. 21-10546) on July 6, 2021.  In the
petition signed by Natin Paul, authorized agent, the Debtor listed
$10 million to $50 million in both assets and liabilities.  Judge
Tony M. Davis oversees the case.  Mark H. Ralston, Esq., at Fishman
Jackson Ronquillo, PLLC, represents the Debtor as legal counsel.


ARRAY TECHNOLOGIES: Moody's Affirms B1 CFR, Outlook Stable
----------------------------------------------------------
Moody's Investors Service affirmed the B1 Corporate Family Rating
and B1-PD Probability of Default Rating of Array Technologies,
Inc., a manufacturer of ground-mounting systems used in solar
energy projects. Concurrently, Moody's affirmed the B1 ratings on
the company's senior secured first lien bank debt and assigned a
SGL-2 speculative grade liquidity rating ("SGL"), denoting good
liquidity. The ratings outlook is stable.

The ratings affirmation incorporates Array's plan to sell perpetual
preferred stock to funds managed by Blackstone Energy Partners.
Proceeds of $350 million from the Blackstone transaction will be
used to repay outstanding amounts under the company's revolving
credit facility and prepay $100 million under the term loan. The
transaction will also add over $100 million of cash to the balance
sheet. The preferred will have a 5.75% cash coupon and 6.25% paid
in kind coupon, at the company's option until five years after
transaction close, after which the coupon is to be cash pay. As
part of the transaction, Array will also sell shares of the
company's common stock. As a result Blackstone will own the
equivalent of approximately 5.8% of Array's common stock
outstanding following the transaction. Up to an additional $150
million will be available to Array for subsequent draws through
June 30, 2023.

The transaction improves the company's liquidity and reduces
leverage at a time that Array was facing meaningful operating
challenges and liquidity pressures. The recent significant rise in
commodity prices (namely steel) and logistics costs have caused
significant margin deterioration and resulted in a degradation in
cash flow. These challenges are exacerbated by Array's inherently
lumpy, project-based work which results in significant volatility
in revenue and earnings.

In addition to the credit positive elements of the Blackstone
transaction, the ratings affirmation is also supported by Moody's
expectation that the company will gradually de-lever over the next
two years, more meaningfully in 2022, while improving margins and
maintaining good liquidity. Further, corporate governance was a key
driver of the ratings affirmation given the company chose to
address its liquidity challenges in a creditor-friendly manner. At
the same time, Moody's notes the potential for future event risk
given Blackstone's new ownership stake and board seat resulting
from the transaction.

The following rating actions were taken:

Affirmations:

Issuer: Array Technologies, Inc.

Probability of Default Rating, Affirmed B1-PD

Corporate Family Rating, Affirmed B1

Senior Secured 1st Lien Bank Credit Facilities (Term Loan and
Revolver), Affirmed B1 (LGD3 from LGD4)

Assignments:

Issuer: Array Technologies, Inc.

Speculative Grade Liquidity Rating, Assigned SGL-2

Outlook Actions:

Issuer: Array Technologies, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Array's B1 CFR reflects inherent earnings and cash flow volatility,
high financial leverage and Moody's expectation of negative free
cash flow through the remainder of 2021. This is balanced against
good liquidity arising from the aforementioned transaction, a
strong market position, patent protection and a strong backlog that
will support revenue growth in 2022 and 2023. Pro forma for the
transaction, FY 2021 debt/EBITDA (including Moody's standard
adjustments) will be in the 5.0x range. Moody's expects that
leverage will decline as earnings improve, primarily in 2022,
stemming from backlog conversion and the company's recent actions
to mitigate the impact of steel price increases.

Moody's expects Array to maintain good liquidity, underpinned by
cash balances of over $100 million, and access to a $200 million
revolving credit facility with approximately $189 million
available, net of letters of credit, following the transaction.
While cash flow will continue to be volatile, Moody's expects
positive free cash flow in 2022. The company has no near term debt
maturities, and Moody's expects the company to be in compliance
with all covenants.

The ratings outlook reflects Moody's expectation that the company
will maintain a good liquidity position over the next 12 to 18
months and improve its financial leverage in 2022.

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

The company's ratings could be downgraded if margins meaningfully
deteriorate or free cash flow weakens further such that Moody's
expects debt/EBITDA to remain above 4.5x beyond 2022. A material
erosion in liquidity could also drive negative ratings pressure.
More aggressive financial policies, including use of cash towards a
meaningful acquisition or dividends rather than debt repayment
would also exert downward ratings pressure.

Given the inherent volatility in earnings, credit metrics would
need to improve meaningfully to support an upgrade, including
debt-to-EBITDA sustained in the 2.0x range and free cash flow to
debt sustained in the double digits. The ratings could also be
upgraded if the nature of Array's business changes such that the
company demonstrates reduced quarterly earnings and cash flow
variability. Profitable geographic expansion beyond the United
States and greater scale and diversification could also support a
ratings upgrade.

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

Headquartered in Albuquerque, New Mexico, Array Technologies, Inc.
manufactures ground-mounting systems used in solar energy projects.
The company generated revenues of approximately $768 million for
the last twelve months ended June 31, 2021.


ASPIRA WOMEN'S: Incurs $7.1 Million Net Loss in Second Quarter
--------------------------------------------------------------
Aspira Women's Health Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $7.07 million on $1.80 million of total revenue for the three
months ended June 30, 2021, compared to a net loss of $3.83 million
on $746,000 of total revenue for the three months ended June 30,
2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $12.99 million on $3.30 million of total revenue compared
to a net loss of $7.54 million on $1.97 million of total revenue
for the same period during the prior year.

As of June 30, 2021, the Company had $55.83 million in total
assets, $8.99 million in total liabilities, and $46.84 million in
total stockholders' equity.

"We are pleased with the volume growth in our products as the
economy has somewhat emerged from COVID-19 restriction as well as
with the advancement of our preparations for our fourth quarter
2021 launch of OVASight," indicated Valerie Palmieri, chief
executive officer.  "We are making positive progress on our product
collaboration with the Dana Farber Cancer Institute as we disclosed
in the first quarter of 2021.  We have also continued to have a
positive dialogue with the FDA regarding our planned EndoCheck
product."

The Company has incurred significant net losses and negative cash
flows from operations since inception, and as a result has an
accumulated deficit of approximately $453,060,000.  The Company
also expects to incur a net loss and negative cash flows from
operations for 2021.

"As a result of the COVID-19 pandemic and actions taken to contain
it, the Company's test volume, and resulting revenue, decreased
significantly in late March and the full month of April 2020 as
fewer patients visited their physicians and elective surgeries were
postponed as a result of closures.  The Company saw some increases
in its test volume towards the latter half of the second quarter
and in the third quarter of 2020, and test volume trended back to
pre-COVID-19 levels during the late third quarter 2020.  In order
to reduce the impact of limitations on visiting physician offices
due to closures and quarantines, the Company implemented other
mechanisms for reaching physicians such as virtual sales
representative meetings and increased digital sales and marketing.
Enrollment for future studies has been slower than originally
planned due to the impact of current closures for some states.  The
full impact of the COVID-19 pandemic continues to evolve as of the
date of this filing.  As a result, the Company is unable to
estimate the extent of the impact of the COVID-19 pandemic on its
operations or liquidity."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/926617/000092661721000069/awh-20210630x10q.htm

                    About Aspira Women's Health

ASPIRA formerly known as Vermillion, Inc. --
http://www.aspirawh.com-- is transforming women's health with the
discovery, development and commercialization of innovative testing
options and bio-analytical solutions that help physicians assess
risk, optimize patient management and improve gynecologic health
outcomes for women.  OVA1 plus combines its FDA-cleared products
OVA1 and OVERA to detect risk of ovarian malignancy in women with
adnexal masses.  ASPiRA GenetiXSM testing offers both targeted and
comprehensive genetic testing options with a gynecologic focus.
With over 10 years of expertise in ovarian cancer risk assessment
ASPIRA has expertise in cutting-edge research to inform its next
generation of products.  Its focus is on delivering products that
allow healthcare providers to stratify risk, facilitate early
detection and optimize treatment plans.

Aspira Women's reported a net loss of $17.90 million for the year
ended Dec. 31, 2020, compared to a net loss of $15.24 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $62.30 million in total assets, $9.97 million in total
liabilities, and $52.33 million in total stockholders' equity.


ATLANTIC WORLDWIDE: Taps Lane Law Firm as Bankruptcy Counsel
------------------------------------------------------------
Advantage Worldwide Shipping, LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire The
Lane Law Firm, PLLC to serve as legal counsel in its Chapter 11
case.

The firm's services include:

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

     (b) analyzing the Debtor's assets and liabilities,
investigating the extent and validity of lien and claims, and
participating in and reviewing any proposed asset sales or
dispositions;

     (c) attending meetings and negotiating with representatives of
secured creditors;

     (d) assisting the Debtor in the preparation, analysis and
negotiation of any plan of reorganization and disclosure statement
accompanying the plan;

     (e) taking all necessary actions to protect and preserve the
interests of the Debtor;

     (f) appearing before the bankruptcy court, the appellate
courts and other courts in which matters may be heard; and

     (g) performing all other necessary legal services.

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

     Attorneys                     $425 per hour
     Associate Attorneys         $250 - $375 per hour
     Paralegals/Legal Assistants $125 - $175 per hour

In addition, the firm will seek reimbursement for out-of-pocket
expenses incurred.

The firm received a retainer of $35,000 from the Debtor.

Robert Lane, Esq., a partner at The Lane Law Firm, disclosed in a
court filing that his firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
     
     Robert C. Lane, Esq.
     Joshua D. Gordan, Esq.
     The Lane Law Firm, PLLC
     6200 Savoy, Suite 1150
     Houston, TX 77036
     Telephone: (713) 595-8200
     Facsimile: (713) 595-8201
     Email: notifications@lanelaw.com

                 About Atlantic Worldwide Shipping

Advantage Worldwide Shipping, LLC, a freight management and
logistics company, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 21-32642) on Aug. 3,
2021.  In the petition signed by Madhavadas Nair, general manager,
the Debtor listed $252,080 in assets and $4,701,322 in liabilities.
Judge Eduardo V. Rodriguez oversees the case.  The Lane Law Firm,
led by Robert Chamless Lane, Esq., serves as the Debtor's legal
counsel.


AVIANCA HOLDINGS: Avianca Unsecureds to Get Share of New Equity
---------------------------------------------------------------
Avianca Holdings S.A. and its Affiliated Debtors filed with the
U.S. Bankruptcy Court for the Southern District of New York a
Disclosure Statement for Joint Chapter 11 Plan dated August 10,
2021.

Avianca faced financial difficulties during the COVID-19 pandemic
and commenced these Chapter 11 Cases to accomplish a comprehensive
restructuring of their business. The Debtors believe that the
post-emergence enterprise will have the ability to withstand the
challenges and volatility of the airline industry and to succeed as
a leading carrier in Latin America.

The Plan is the result of extensive good faith negotiations,
overseen by AVH's board of directors, among the Debtors and several
of their key economic stakeholders. The Plan is supported by, among
others, [the Committee]; the Consenting Noteholders, which
collectively held a majority of the Debtors' 9.000% Senior Secured
Notes due 2023 prior to giving effect to the DIP Roll-Up; and a
majority of the holders of Tranche B DIP Facility Claims.

The Plan provides for a comprehensive restructuring of the
Company's balance sheet and a significant investment of new capital
in the Company's business. The transactions contemplated in the
Plan will strengthen the Company by substantially reducing its debt
and increasing its cash flow and will preserve over 10,000 jobs.
More specifically, in connection with the Plan:

     * Subject to satisfaction of certain conditions precedent,
Tranche A-1 DIP Facility Claims and Tranche A-2 DIP Facility Claims
will convert to 7-year exit financing upon emergence.

     * The Debtors engaged in a competitive marketing process (the
"Equity Solicitation Process") to determine whether an alternative
investor (an "Alternative Sponsor") would be willing to provide
capital to the Reorganized Debtors on terms superior to those
offered by the Tranche B DIP Lenders, which, as part of the DIP
Credit Agreement, committed to convert all of the Tranche B DIP
Facility Claims to at least 72% of fully diluted equity securities
of a new corporation or other legal entity that may be formed on or
prior to the Effective Date to, among other things, directly or
indirectly acquire substantially all of the assets and/or stock of
AVH ("Reorganized AVH").

     * Equity Solicitation Process yielded one indication of
interest, which did not aggregate sufficient value to satisfy all
Tranche B DIP Facility Claims in full in Cash. The Debtors, in
their business judgment, determined that the terms of the
indication of interest were not superior to those offered by the
Tranche B DIP Lenders. The Debtors have elected to exercise their
option under the DIP Credit Agreement to convert the Tranche B DIP
Facility Claims to New Common Equity as part of the Plan. Certain
holders of Tranche B DIP Facility Claims have agreed to contribute
cash and/or assets to the Reorganized Debtors in an aggregate
amount of $200 million in exchange for equity in Reorganized AVH
(the "New Common Equity").

     * Holders of General Unsecured Avianca Claims will receive the
cash equivalent of their Pro Rata share of (a) 1.75% of the New
Common Equity and (b) warrants to purchase 5.0% of the New Common
Equity, with a cashless exercise price of $1.48 billion and a 5
year term; provided, that, in the event that the Class of General
Unsecured Avianca Claims votes to accept the Plan, holders of
General Unsecured Avianca Claims will receive the cash equivalent
of their Pro Rata share of an additional 0.75% of the New Common
Equity (i.e., 2.5% of the New Common Equity in the aggregate) and
the Warrants. In lieu of receiving cash, holders of General
Unsecured Claims may elect to receive their Pro Rata share of the
applicable percentage of New Common Equity and the Warrants by
making a written election on a timely and properly delivered and
completed Ballot to receive the Unsecured Claimholder Equity
Package.

     * These recoveries are being carved out of the value of the
collateral securing the Tranche B DIP Facility Claims and would not
otherwise be available to holders of such unsecured Claims without
the consent of holders of Tranche B DIP Facility Claims, which
consent was obtained in connection with good-faith, arms' length
negotiations among the Debtors, the Committee, and holders of
Tranche B DIP Facility Claims. Such negotiations resulted in a
global settlement (the "Global Plan Settlement"), pursuant to which
the Debtors resolved all issues that may have been raised by the
Committee with respect to the Plan, including, among other things,
disputes on enterprise value.

     * On the Effective Date or as soon as reasonably practicable
thereafter, all Interests in AVH will be cancelled, released,
extinguished, or receive economically similar treatment, to the
extent permitted by applicable law as determined by the Debtors in
their business judgment. Holders of Interests in AVH will not
receive any distributions, nor retain any property, under the
Plan.

     * The transactions will eliminate approximately $3.0 billion
of debt from the Debtors' consolidated balance sheet.

In developing the Plan, the Debtors conducted a careful review of
their existing business operations and compared their projected
value as an ongoing business enterprise with their projected value
in a liquidation scenario, as well as the estimated recoveries to
holders of Allowed Claims in each of these scenarios. The Debtors
concluded that the potential recoveries to holders of Allowed
Claims would be maximized by the Debtors' continued operation as a
going concern through implementation of the Plan and the Global
Plan Settlement.

The Debtors believe that their businesses and assets have
significant value that would not be realized in a liquidation.
Moreover, the Debtors believe that any alternative to the Plan,
such as an asset sale, or attempts by another party to file an
alternative plan of reorganization, could result in significant
delay, litigation, execution risk, and additional costs, ultimately
lowering the recoveries to holders of Allowed Claims that are
achieved pursuant to the Global Plan Settlement.

The Reorganized Debtors will fund distributions under the Plan
required to be paid in Cash, if any, with Cash on hand (including
Cash from operations and Cash received under the DIP Facility in
accordance with the DIP Facility Documents) and Cash received on
the Effective Date (including borrowings under the Exit Facility
and the Tranche B Equity Contributions).

A full-text copy of the Disclosure Statement dated August 10, 2021,
is available at https://bit.ly/3CM9w1d from Kurtzman Carson
Consultants LLC, claims agent.

Counsel for Debtors:
     
     Evan R. Fleck, Esq.
     Dennis F. Dunne
     Benjamin Schak
     Kyle R. Satterfield
     Milbank LLP
     55 Hudson Yards
     New York, NY 10001
     Telephone: (212) 530-5000
     Facsimile: (212) 530-5219
     
     MILBANK LLP
     Gregory A. Bray
     2029 Century Park East, 33rd Floor
     Los Angeles, CA 90067
     Telephone: (424) 386-4000
     Facsimile: (213) 629-5063

                        About Avianca

Avianca -- https://aviancaholdings.com/ -- is the commercial brand
for the collection of passenger airlines and cargo airlines under
the umbrella company Avianca Holdings S.A. Bogota, Colombia-based
Avianca has been flying uninterrupted for 100 years. With a fleet
of 158 aircraft, Avianca serves 76 destinations in 27 countries
within the Americas and Europe.

Avianca Holdings S.A. and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
20-11133) on May 10, 2020. At the time of the filing, the Debtors
disclosed $7,273,900,000 in assets and $7,268,700,000 in
liabilities.  

Judge Martin Glenn oversees the cases.

The Debtors tapped Milbank LLP as general bankruptcy counsel;
Urdaneta, Velez, Pearl & Abdallah Abogados and Gomez-Pinzon
Abogados S.A.S. as restructuring counsel; Smith Gambrell and
Russell, LLP as aviation counsel; Seabury Securities LLC as
financial restructuring advisor and investment banker; FTI
Consulting, Inc. as financial restructuring advisor; and Kurtzman
Carson Consultants LLC as claims and noticing agent.

The U.S. Trustee for Region 2 appointed a committee of unsecured
creditors in Debtors' bankruptcy cases on May 22, 2020.  The
committee is represented by Willkie Farr & Gallagher, LLP.


B. AVERY SALON: Gets 6-Month Access to Cash Collateral
------------------------------------------------------
Judge Ronald B. King of the U.S. Bankruptcy Court for the Western
District of Texas authorized B. Avery Salon & Barbershop, LLC to
use cash collateral in the ordinary course of its business, solely
for the purposes set forth in the budget, from entry of the current
order through and including the earlier of six months and the date
of Plan confirmation.

As adequate protection for any post-petition diminution in the
value of the Prepetition Collateral, Square Capital, LLC and the
LCF Group are granted a post-petition replacement lien in all
property presently securing the Claim, together with the related
post-petition proceeds. The postpetition lien shall attach to the
same property and any post-petition proceeds thereof, to the same
extent, and in the same order of priority as the prepetition lien.


As further adequate protection, the Debtor shall pay Square and LCF
their respective adequate protection amounts on or before the 25th
day of each month.  Square and LCF shall apply each monthly payment
in accordance with the respective loan documents provided, however,
that if Square and LCF's claims are ultimately allowed as a secured
claim in an amount less that the full amount of the Claim, the
monthly payments shall be reallocated so as to be applied solely to
the Allowed Secured Claim, and Square and LCF shall refund to the
Debtor the amount (if any) by which the total monthly payments
exceed the Allowed Secured Claim.

Square Capital asserts a claim against the Debtor for $10,833 as of
the Petition Date. The Claim is secured by a valid, perfected and
non-avoidable first-priority blanket lien on all of the Debtor's
assets in Bexar. Square is oversecured.  The LCF Group also asserts
a secured claim against the Debtor for $15,804 as of the Petition
Date, but is second in priority to Square's claim based on later
perfection date. LCF is undersecured an estimated $10,592 based on
value of Debtor's collateral.

A third creditor, HFH Capital asserts a secured claim against the
Debtor for $52,941, but is third in priority to Square and LCF's
claim based on later perfection date.  HFH is wholly undersecured
and is therefore not treated to adequate protection measures.

A copy of the order is available for free at https://bit.ly/3ABV7mw
from PacerMonitor.com.

The Court will conduct a live in person final hearing on the
Debtor's cash collateral motion on September 15, 2021 at 9:30 a.m.
in Courtroom No. 1, Third Floor, 615 E. Houston Street, in San
Antonio, Texas.

                       About B. Avery Salon

B. Avery Salon & Barbershop, LLC filed a Chapter 11 petition
(Bankr. W.D. Texas Case No. 21-50924) on July 28, 2021. At the time
of the filing, the Debtor listed as much as $50,000 in assets and
as much as $500,000 in liabilities. Benjamin Avery Pineda, owner,
signed the petition.  Judge Ronald B. King oversees the case.
Heidi McLeod Law Office, PLLC serves as the Debtor's legal
counsel.



BATH & BODY: Moody's Hikes CFR to Ba2 & Alters Outlook to Positive
------------------------------------------------------------------
Moody's Investors Service upgraded all ratings of Bath & Body
Works, Inc. ("BBW") including its corporate family rating to Ba2
from Ba3 and its probability of default rating to Ba2-PD from
Ba3-PD. The company's existing senior unsecured guaranteed notes
were also upgraded to Ba2 from Ba3 and the senior unsecured
unguaranteed notes were upgraded to B1 from B2. The speculative
grade liquidity rating remains at SGL-1. The outlook was also
changed to positive from ratings under review. This rating action
concludes the review for upgrade that was initiated on June 21,
2021.

The upgrade reflects governance considerations including the
completion of the spin-off of Victoria's Secret into a publicly
traded entity, Victoria Secret & Co. ("VS" Ba3 stable) as well as
BBW's balanced financial strategies. BBW recently announced [1]
that it will repay up to $500 million in debt from the cash payment
of approximately $1 billion received from VS. In addition, BBW is
targeting debt/EBITDA to be maintained around 2.5x and is expected
to retain its existing dividend and use excess cash flow for share
repurchases.

The positive outlook reflects BBW's consistent performance and
operating margins through varying economic conditions. The outlook
also assumes BBW will be able to maintain its current level of
earnings as it cycles the outsized performance experienced since
the second half of 2020 and that disruption from the spin-off of
Victoria's Secret will be limited.

Upgrades:

Corporate Family Rating, upgraded to Ba2 from Ba3

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

Gtd. Senior Unsecured Regular Bond/Debenture, upgraded to Ba2
(LGD3) from Ba3 (LGD3)

Senior Unsecured Regular Bond/Debenture, upgraded to B1 (LGD6)
from B2 (LGD6)

Outlook Action:

Outlook changed to Positive from Rating under Review

RATINGS RATIONALE

BBW's ratings reflect its balanced financial strategy. In addition
to its leverage target, BBW is continuing its dividend payout of in
excess of $160 million per year and is expected to use the
remaining $770 million under its recently announced $1.5 billion
share repurchase authorization from excess cash flow. Moody's
estimates BBW's debt/EBITDA to be approximately 2.5x and cash end
of 2021 to approach $1.7 billion. BBW benefits from significant
scale with last twelve months (LTM) sales as of May 1, 2021 of
about $7.1 billion. BBW has benefited from a history of solid
demand for its products and very strong operating margins which
have been supported by tight inventory management. Nonetheless, the
company remains at risk as demand for its products normalize given
its outsized performance during the pandemic. The implementation of
the Victoria's Secret spin-off and the seasonal nature of its
operations are also key risk factors. Its rating is also supported
by very good liquidity and an extended maturity profile.

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

The ratings could be upgraded if the company demonstrates a
consistent track record of operating income performance and the
transition from the spin-off is executed successfully. A rating
upgrade would also require BBW maintains very good liquidity and a
clearly articulated and balanced financial strategy.

Quantitatively ratings could be upgraded if debt/EBITDA is
sustained below 2.5 times and EBIT/interest expense is sustained
above 4.0 times.

The ratings could be downgraded if the company demonstrates an
inconsistent track record of operating income performance or
experiences material challenges with the spinoff of VS. Ratings
could also be downgraded if liquidity weakens or the company adopts
a more aggressive financial policy. Quantitatively ratings could be
downgraded if debt/EBITDA is sustained above 3.5 times and
EBIT/interest expense below 3.0 times.

Headquartered in Columbus, Ohio, Bath and Body Works, Inc. operates
in excess of 1,750 company-owned specialty stores in the United
States and Canada. Its brand is also sold in more than 290
franchised locations worldwide as of May 1, 2021 and on
bathandbodyworks.com.

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


BEAZER HOMES: Moody's Raises CFR to B2 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded Beazer Homes USA, Inc.'s
Corporate Family Rating to B2 from B3 and Probability of Default
Rating to B2-PD from B3-PD. The rating on the company's senior
unsecured notes was affirmed at B3. The SGL-2 Speculative Grade
Liquidity Rating was maintained. The outlook was changed to stable
from positive.

The ratings upgrade reflects the strengthening in Beazer's credit
metrics, including leverage, interest coverage and gross margin,
which Moody's expects to continue over the next 12 to 18 months.
"The company's credit profile is expected to benefit from strong
tail winds in the homebuilding sector along with the expected debt
repayments, including through the accelerated amortization of its
unsecured term loan," says Natalia Gluschuk, Moody's Vice President
-- Senior Analyst. At June 30, 2021, Beazer's homebuilding debt to
capitalization ratio stood at 62%, with its gross margin exceeding
18% and homebuilding EBIT to interest coverage approaching 3.0x.

The stable outlook reflects Moody's expectation that Beazer will
benefit from favorable sector trends, increase revenue and improve
its credit ratios, while maintaining good liquidity.

The following rating actions were taken:

Upgrades:

Issuer: Beazer Homes USA, Inc.

Corporate Family Rating, Upgraded to B2 from B3

Probability of Default Rating, Upgraded to B2-PD from B3-PD

Affirmations:

Issuer: Beazer Homes USA, Inc.

Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD4)

Outlook Actions:

Issuer: Beazer Homes USA, Inc.

Outlook, Changed To Stable From Positive

RATINGS RATIONALE

Beazer's B2 Corporate Family Rating is supported by the company's:
1) considerable size and scale, with revenue of $2.2 billion and
geographic diversity; 2) focus on the first-time homebuyer segment
for about half of total closings, which is expected to benefit from
favorable demographic trends; 3) commitment to debt reduction and
focus on strengthening the balance sheet; and 4) conservative
approach to land investments and increasing proportion of optioned
lots, which contributes to positive cash flow from operations.

At the same time the rating reflects the company's: 1) high
homebuilding debt to book capitalization ratio; 2) share repurchase
program, although significant repurchases are not anticipated; 3)
risk related to owned land supply that could be subject to
impairment during a market weakening; and 4) exposure to the
cyclicality of the homebuilding industry and protracted revenue
declines.

The B3 rating on senior unsecured notes, one notch below the
Corporate Family Rating, reflects the presence of secured debt in
the capital structure.

The SGL-2 Speculative Grade Liquidity Rating reflects Beazer's good
liquidity. Liquidity is supported by $358 million of cash at June
30, 2021, Moody's expectation of positive cash flow from
operations, availability under the company's $250 million senior
secured revolving credit facility, and the expectation of covenant
compliance.

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

The ratings could be upgraded if the company's homebuilding debt to
book capitalization approaches 50%, tangible net worth exceeds $1
billion, EBIT to interest coverage is maintained above 3.0x, while
industry conditions remain favorable, gross margin continues to
improve and good liquidity is maintained.

The ratings could be downgraded if the company's homebuilding debt
to book capitalization is sustained above 60%, EBIT to interest
coverage declines below 2.0x, if industry conditions weaken causing
meaningful declines in revenue, gross margin and result in net
losses, or if liquidity were to weaken.

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

Beazer Homes, USA, Inc., headquartered in Atlanta, Georgia, is a US
homebuilder operating in 13 states across three geographic regions:
West, East and Southeast. Beazer targets entry-level, move-up, and
active adult homebuyers. In the LTM period ended June 30, 2021, the
company generated approximately $2.2 billion in revenue and $97
million in net income.


BEZH SERVICES: Menucha Gets OK to Hire Kutner Brinen as Counsel
---------------------------------------------------------------
Menucha Enterprises, LLC, an affiliate of Bezh Services, LLC,
received approval from the U.S. Bankruptcy Court for the District
of Colorado to employ Kutner Brinen Dickey Riley, P.C. to serve as
legal counsel in its Chapter 11 case.

The firm's services include:

     a. providing legal advice to the Debtor with respect to its
powers and duties;

     b. advising the Debtor with respect to its responsibilities in
complying with the U.S. trustee's operating guidelines and
reporting requirements and with the rules of the court;

     c. preparing legal documents;

     d. protecting the interests of the Debtor in all matters
pending before the court; and

     e. representing the Debtor in negotiating with its creditors
to prepare a plan of reorganization or other exit plan.

The firm's hourly rates are as follows:

     Jeffrey S. Brinen    $500 per hour
     Jenny M. Fujii       $410 per hour
     Keri L. Riley        $350 per hour
     Jonathan M. Dickey   $350 per hour
     Contract Attorney    $350 per hour
     Law Clerk            $100 per hour

Kutner received a pre-bankruptcy retainer in the amount of
$15,387.

Jeffrey Brinen, Esq., at Kutner, disclosed in court filings that
his firm is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     Jeffrey S. Brinen, Esq.
     Kutner Brinen, P.C.
     1660 Lincoln Street, Suite 1720
     Denver, CO 80264
     Tel: (303) 832-2400
     Email: jsb@kutnerlaw.com

            About Bezh Services and Menucha Enterprises

Bezh Services, LLC and Menucha Enterprises, LLC, a company engaged
in the business of owning and operating residential real property,
filed Chapter 11 bankruptcy petitions (Bankr. D. Colo. Lead Case
No. 21-10745) on Feb. 17, 2021 and on March 9, 2021, respectively.
At the time of the filing, Bezh Services listed as much as $50,000
in assets and as much as $500,000 in liabilities while Menucha
Enterprises listed $1 million to $10 million in both assets and
liabilities.

Judge Thomas B. Mcnamara oversees the cases.

Kutner Brinen, P.C. and RubinBrown, LLP serve as the Debtors' legal
counsel and accountant, respectively.


BOY SCOUTS OF AMERICA: In Talks With Troops Sponsors for Ch.11 Deal
-------------------------------------------------------------------
Law360 reports that the restructuring adviser for the Boy Scouts of
America testified in Delaware bankruptcy court Thursday, August 12,
2021, that the debtor has begun talks with the hundreds of
organizations that sponsor individual scouting troops to try to
bring them into an $850 million settlement it has already reached
with a large group of abuse victims.

During a virtual hearing where the Boy Scouts were seeking approval
of the restructuring support agreement that calls for it to
contribute $250 million into a victim trust, Brian Whittman of
Alvarez & Marsal North America LLC said.

                    About Boy Scouts of America

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

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

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

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

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


BOY SCOUTS OF AMERICA: Judge Begins Key Bankruptcy Case Hearing
---------------------------------------------------------------
The Wichita Eagle reports that under the agreement presented to
U.S. Bankruptcy Judge Laura Selber Silverstein, the Boy Scouts have
proposed contributing up to $250 million in cash and property to a
fund for abuse victims.  Local councils, which run day-to-day
operations for Boy Scout troops, would contribute $600 million.

The national organization and councils also would transfer their
rights to Boy Scout insurance policies to the victims fund.  In
return, they would be released from further liability for abuse
claims.

If approved, the agreement could result in one of the nation's
largest settlements in a sex abuse case.

Silverstein expressed surprise Thursday when Glenn Kurtz, an
attorney for the Boy Scouts, said during arguments over what board
materials had been provided to the insurers that the board never
approved a formal resolution approving the agreement.

"Isn't it a little unusual that a board doesn't actually authorize
the actual agreement?" the judge asked.

Kurtz replied that the board authorized "deal terms," but delegated
the documentation to the professionals.

"I don't know it was the world’s most formal procedure in terms
of documenting the approvals, but you got a yes vote from all 72
board members on these deal terms," Kurtz said.

Judge Silverstein suggested that the lack of board authorization
for the agreement was particularly surprising given that several
members of the board are lawyers.

"We'll see whether the debtor is able, without an authorization, to
convince me that they've met the business judgment standard or
they're entitled to the business judgment standard and they made
informed decisions," she said.

Under Delaware's business judgment rule, courts typically give
strong deference to a corporate board's decision-making unless
there is evidence that directors shirked their duties, had
conflicts or acted in bad faith.

As part of the proposed agreement, the Boy Scouts are seeking
permission from Silverstein to back out of a settlement reached in
April 2021 with one of their insurers, The Hartford. The Hartford
agreed to pay $650 million into the victims fund in exchange for
being released from any further obligations, but victims attorneys
have said their clients won’t support a reorganization plan that
includes it.

The hearing, which is scheduled to resume Friday, August 13. 2021,
is for the judge to examine whether the settlement agreement
provides a basis for the Boy Scouts to move forward with a proposed
reorganization plan.

                   About Boy Scouts of America

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

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

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

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

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



CARBON AND CLAY: Unsecureds to Recover 12% or 5% in Plan
--------------------------------------------------------
Carbon and Clay Company filed a Small Business Chapter 11 Plan of
Reorganization and a Disclosure Statement.

The Debtor believes that the total amount of allowed unsecured
claims is approximately $1 million.  

Under the Plan, holders of general unsecured claims in Class 5 will
be paid 12% of their allowed unsecured claims through equal
quarterly payments of principal based on a 4-year Plan term, with
payments beginning on the first day of the second month following
the effective date of the Plan.

Alternatively, Class 5 creditors may elect to receive a lump sum
cash distribution equal to 5% of the unsecured creditors' allowed
claims.  The 5% distribution will be made by the Debtor on or
before the 60th day following the Effective Date.

The equity holders will retain their interest in the Plan.

The Debtor's operations have not gone smoothly as expected, and
coming out of COVID has not been easy.  But the Debtor's operations
are much improving.  The Debtor believes that its revamped
operations are sufficient to fund the Debtor's ongoing operations
and payment obligations.  Additionally, changes and cost-cutting
efforts taken in the case should ensure profitability going
forward.

A copy of the Disclosure Statement dated Aug. 11, 2021, is
available at https://bit.ly/3CRCJYQ

               About Carbon and Clay Company

Carbon and Clay Company is a manufacturer of beauty and oral care
products based in New Braunfels, Texas.  Carbon and Clay owns no
real property -- it leases its business location in New Braunfels.

Carbon and Clay filed a voluntary petition for relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-50242)
on March 4, 2021.  In the petition signed by CEO Jessica Arman, the
Debtor disclosed $2,850,486 in assets and $1,434,965 in
liabilities.  Langley & Banack, Inc., led by William R. Davis, Jr.,
is serving as the Debtor's counsel.



CARVANA CO: S&P Rates New $750MM Senior Unsecured Notes 'CCC+'
--------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issue-level rating and '4'
recovery rating to Carvana Co.'s proposed $750 million senior
unsecured notes due 2029. The '4' recovery rating indicates its
expectation for average (30%-50%; rounded estimate: 45%) recovery
in the event of a payment default.

S&P said, "Our 'CCC+' issuer credit rating and positive outlook on
the company are unaffected by this transaction because it continues
to support its aggressive growth plans by issuing debt and equity.
The proposed debt offering, along with the debt offering it
completed earlier this year, will likely provide Carvana with
sufficient liquidity for at least the next 18 months. The company's
maintenance of sufficient liquidity and its continued progress
toward leveraging its scale to improve its margins are the key
supporting factors for our positive outlook."

  Ratings List

  CARVANA CO.

  Issuer Credit Rating             CCC+/Positive/--

  NEW RATING

  CARVANA CO.

  Senior Unsecured
  US$750 mil sr notes due 2029      CCC+
  Recovery Rating                   4(45%)



CBL & ASSOCIATES: Gets Plan Confirmation Over Equity Objection
--------------------------------------------------------------
Law360 reports that the Chapter 11 plan of mall owner CBL &
Associates received bankruptcy court approval Wednesday in Texas
after a judge there overruled opposition from a handful of
preferred equity holders that argued the plan rewarded stakeholders
with junior interests.

During a virtual hearing, debtor attorney Ray C. Schrock of Weil
Gotshal & Manges LLP said existing equity holders will receive an
11% share of the new common shares of a reorganized CBL, and it
will be split evenly between current holders of preferred and
common shares despite those parties not being entitled to receive
any recovery at all under the plan.

                  About CBL & Associates Properties

CBL & Associates Properties, Inc. -- http://www.cblproperties.com/
-- is a self-managed, self-administered, fully integrated real
estate investment trust (REIT) that is engaged in the ownership,
development, acquisition, leasing, management and operation of
regional shopping malls, open-air and mixed-use centers, outlet
centers, associated centers, community centers, and office
properties.

CBL's portfolio is comprised of 107 properties totaling 66.7
million square feet across 26 states, including 65 high-quality
enclosed, outlet and open-air retail centers and 8 properties
managed for third parties. It seeks to continuously strengthen its
company and portfolio through active management, aggressive leasing
and profitable reinvestment in its properties.

CBL, CBL & Associates Limited Partnership and four other entities
filed voluntary petitions for reorganization under Chapter 11 of
the U.S. Bankruptcy Code in Houston, Texas, on Nov. 1, 2020 (Bankr.
S.D. Tex. Lead Case No. 20-35226). Another 172 entities sought
bankruptcy protection on November 2, 2020, and CBL/Regency I, LLC
on November 13. Laredo Outlet Shoppes, LLC filed its Chapter 11
petition on May 26, 2021. The cases are jointly administered with
CBL & Associates Properties' case as the lead case.

The Debtors have tapped Weil, Gotshal & Manges LLP as their legal
counsel, Moelis & Company as restructuring advisor and Berkeley
Research Group, LLC, as financial advisor. Epiq Corporate
Restructuring, LLC, is the claims agent.


CEN BIOTECH: Incurs $15.5 Million Net Loss in Second Quarter
------------------------------------------------------------
CEN Biotech, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $15.49
million for the three months ended June 30, 2021, compared to a net
loss of $1.66 million for the three months ended June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $16.12 million compared to a net loss of $2.96 million for
the same period during the prior year.

The Company has incurred recurring losses and has not commenced
revenue generating operations to date.  Its expenses to date are
primarily its general and administrative expenses and fees, costs
and expenses related to acquisitions and operations.

As of June 30, 2021, the Company had $6.15 million in total assets,
$11.13 million in total liabilities, and a total stockholders'
deficit of $4.98 million.

As of June 30, 2021 and Dec. 31, 2020, the Company's liquid assets
consisted of cash of $10,840 and $1,908, respectively.

As of June 30, 2021, the Company's indebtedness includes a patent
acquisition liability of $302,000, accrued interest of $1,295,080,
accrued interest to related parties of $1,720,575, as well as loans
payable, loans payable to related parties, convertible notes and
convertible notes to related parties at original issuance totaling
$6,694,937 ($6,659,386 net of debt discount).  The convertible
notes are generally due 2 years from issuance with notes maturing
in 2018 through 2023.  As of Aug. 12, 2021 the Company is
currently in default of $5,148,410 of unsecured debt.  The Company
expects its operating and administrative expenses to be at least
$1,200,000 annually.

The Company stated, "We have not yet generated any revenues, and at
present we are not able to estimate if or when we will be able to
generate any revenues.  Our consolidated financial statements have
been prepared assuming that we will continue as a going concern;
however, given our recurring losses from operations, management, as
well as our auditors, have determined there is substantial doubt
about our ability to continue as a going concern."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1653821/000143774921019742/cenb20210630_10q.htm

                         About CEN Biotech

CEN Biotech, Inc. -- tp://www.cenbiotechinc.com -- is focused on
the manufacturing, production and development of Light Emitting
Diode lighting technology and hemp products.  The Company intends
to explore the usage of hemp, which it intends to cultivate for
usage in industrial, medical and food products.  Its principal
office is located at 300-3295 Quality Way, Windsor, Ontario,
Canada.

CEN Biotech reported net income of $14.25 million for the year
ended Dec. 31, 2020, compared to a net loss of $5.65 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $6.21 million in total assets, $16.68 million in total
liabilities, and a total shareholders' deficit of $10.46 million.

Mazars USA LLP, in New York, New York, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 12, 2021, citing that the Company has incurred significant
operating losses and negative cash flows from operations since
inception.  The Company also had an accumulated deficit of
$27,060,527 at Dec. 31, 2020.  The Company is dependent on
obtaining necessary funding from outside sources, including
obtaining additional funding from the sale of securities in order
to continue their operations.  The COVID-19 pandemic has hindered
the Company's ability to raise capital.  These conditions raise
substantial doubt about its ability to continue as a going concern.


CHANNEL CLARITY: Wins OK to Use Cash Collateral Thru Sept. 3
------------------------------------------------------------
Judge LaShonda A. Hunt of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Channel Clarity Holdings,
LLC to use cash collateral to pay post-petition expenses to third
parties during the period of August 3 through September 3, 2021, to
the extent set forth in the budget, plus 10%.

The budget provided for the following weekly for the approved usage
period:

    $48,348 for the week of August 2, 2021

    $16,675 for the week of August 9, 2021;

     $1,200 for the week of August 16, 2021;

     $6,987 for the week of August 23, 2021;

    $44,627 for the week of August 30, 2021; and

    $65,121 for the week of September 6, 2021.

A copy of the budget is available for free at
https://bit.ly/3iK3N3W from PacerMonitor.com.

The Debtor is authorized to make the July 30th payment not to
exceed $30,000 to Oxford Media.  No additional payments, however,
may be made to Oxford Media without further order of Court.

In return for the Debtor's continued interim use of cash
collateral, Brock Flagstad and Kasey Klaas are granted the
following adequate protection for their purported secured interests
in cash collateral equivalents, including the Debtor's cash and
accounts receivable, among other collateral:

   * The Debtor will permit Flagstad and Klaas to inspect, upon
reasonable notice and within reasonable business hours, the
Debtor's books and records;

   * The Debtor shall maintain and pay premiums for insurance to
cover the Collateral from fire, theft and water damage;

   * Flagstad and Klaas are granted replacement liens, attaching to
the Collateral, to the extent of their pre-petition liens, with any
valid liens attaching to the Collateral and its proceeds until
further Order of Court;

A copy of the order is available for free at https://bit.ly/3g0sUhk
from PacerMonitor.com.

A final hearing on the Motion is scheduled on September 2, 2021, at
1 p.m.

                  About Channel Clarity Holdings

Chicago-based Channel Clarity Holdings, LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Ill. Case No. 21-07972) on June 30, 2021. Brock Flagstad,
managing member, 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 Lashonda A. Hunt oversees the
case. Crane, Simon, Clar & Goodman represents the Debtor as legal
counsel.



CHEF'S WAREHOUSE: Moody's Alters Outlook on B3 CFR to Stable
------------------------------------------------------------
Moody's Investors Service changed the rating outlook for The Chefs'
Warehouse, Inc.'s to stable from negative. Concurrently, Moody's
affirmed all of the company's ratings, including the B3 corporate
family rating, B3-PD probability of default rating (PDR), and B2
senior secured term loan rating. The speculative grade liquidity
rating remains SGL-3.

The change in outlook to stable from negative reflects the
significant improvement in Chefs' operating performance in Q2 2021
and Moody's expectations for continued earnings recovery and
adequate liquidity. As dining restrictions were lifted across the
US, including key metropolitan areas served by Chefs, the company
exited Q2 2021 with revenues in line with 2019 levels (pro-forma
for acquisitions completed in 2020 and 2021), and EBITDA for the
quarter reached roughly 70% of pre-pandemic levels. While
uncertainty remains regarding potential re-imposition of dining
restrictions as a result of new coronavirus variants, Moody's
projects meaningful revenue, EBITDA and credit metrics improvement
over the next 12-18 months.

Moody's took the following rating actions for The Chefs' Warehouse,
Inc.:

Corporate family rating, affirmed B3

Probability of default rating, affirmed B3-PD

Senior secured bank credit facility, affirmed B2 (LGD3)

Outlook, changed to stable from negative

RATINGS RATIONALE

The Chefs' Warehouse, Inc.'s B3 CFR is constrained by the
vulnerability of Chefs' customer base to the coronavirus pandemic,
which could result in a prolonged period of high leverage and weak
cash flow generation in a scenario of any potential renewed dining
restrictions due to new coronavirus variants. A meaningful portion
of Chefs' customers are located in dense urban areas that remain
particularly exposed to any curbs in dining capacity and delays in
the return to pre-pandemic lifestyles including in-office work and
tourism. In addition, while independent restaurants benefited from
government support during the pandemic, they have riskier credit
profiles than chain operators, leaving them more vulnerable to
industry disruption. Reflecting Chefs' negative earnings during the
pandemic period prior to Q2 2021, Moody's-adjusted debt/EBITDA as
of June 25, 2021 was an exceptionally high 48.8x. However, Moody's
expects the earnings recovery to be significant in the second half
of 2021, which will result in debt/EBITDA reaching about 8.0x at
the end of 2021. Barring any material changes in dining
restrictions, Moody's expects the recovery to continue into 2022,
with EBITDA potentially reaching within 90% of 2019 levels by the
end of in 2022, which would further improve leverage towards 5x.
The ratings also incorporate Chefs' modest scale relative to its
public foodservice industry peers.

The rating is supported by expectations for adequate liquidity over
the next 12-18 months. The credit profile also benefits from
governance considerations, specifically the company's balanced
financial policies, including its issuance of common equity to
support liquidity during the pandemic, and its moderate leverage
levels maintained prior to 2020. In addition, the ratings
incorporate Chefs' position as a premier distributor of specialty
food products in the United States and Canada. The company has a
product portfolio with a deep selection of specialty and
center-of-the-plate food products that differentiates its offering
from the larger, traditional broadline foodservice distributors.
Chefs' focus on the independent restaurant segment and scale within
the segment should allow it to return to solid operating margins
relative to its peers.

The stable outlook reflects Moody's expectations for earnings
improvement and adequate liquidity.

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

Factors that could result in an upgrade include solid revenue and
earnings recovery, such that debt/EBITDA is sustained around 5.5
times and EBITA/interest expense above 1.5 times. An upgrade would
also require Chefs' to have an improved liquidity profile,
including positive free cash flow and ample revolver availability.

Factors that could result in a downgrade include a deterioration in
liquidity for any reason or a weaker than expected recovery in
earnings.

Headquartered in Ridgefield, CT, The Chefs' Warehouse, Inc.
distributes specialty food products to menu-driven independent
restaurants, fine dining establishments, country clubs, hotels,
caterers, culinary schools, bakeries, patisseries, chocolatiers,
cruise lines, casinos, and specialty food stores in the United
States and Canada. The company generated net sales of $1.2 billion
for the twelve months ended June 25, 2021.

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


CHESAPEAKE ENERGY: S&P Places 'B+' ICR on CreditWatch Positive
--------------------------------------------------------------
S&P Global Ratings placed its 'B+' issuer credit rating on Oklahoma
City-based oil and gas exploration and production company
Chesapeake Energy Corp. on CreditWatch with positive implications
to reflect its view that S&P could raise the rating by one notch
following the close of the acquisition, which it expects in the
fourth quarter of 2021.

S&P affirmed its issue-level rating on the company's senior
unsecured notes at 'BB-'.

S&P placed its ratings on CreditWatch with positive implications to
reflect the company's increased scale, improved profitability, and
still low leverage.

The acquisition of publicly traded Vine Energy will make Chesapeake
Energy the largest natural gas producer in the Haynesville shale,
with nearly 1.6 billion cubic feet (bcf) per day of net production
(over 2.0 bcf/d gross) in the basin. The added scale will help the
company optimize gathering, transport and sales agreements. S&P
said, "We expect the company's total equivalent production will
average 3.5 bcfe/d in 2022 (~85% natural gas), with total proved
reserves of around 9 trillion (t)cfe. We expect pro forma operating
costs to be about 15% lower in 2022 than for Chesapeake
stand-alone, which should boost profitability and cash flows, and
thereby strengthen the company's business risk profile."

The acquisition is essentially neutral for leverage.

The company will fund the acquisition with about $1.06 billion in
new Chesapeake equity (about 19.1 million shares), $92 million of
cash, and $950 million of assumed debt (Vine's 6.75% senior
unsecured notes due 2029). Chesapeake will also repay Vine's $150
million second-lien term loan due 2025 and the $35 million
outstanding on its credit facility at closing. Based on S&P's
current operating and price deck assumptions, it estimates
Chesapeake's debt to EBITDA to be in the 1.0x area in 2022.

The company will raise its base dividend and start paying variable
dividends in 2022.

With this transaction, Chesapeake will increase its base annual
dividend by 27% to $1.75/share starting in the first quarter of
2022 and will look to return an additional 50% of free cash flow to
shareholders through variable dividends.

Chesapeake continues its search for a permanent CEO.

S&P said, "We view Chesapeake's management and governance (M&G) as
a negative rating factor, given the company's recent bankruptcy and
uncertainty surrounding the ultimate strategic direction of a new
CEO.

"The positive CreditWatch placement reflects the likelihood of an
upgrade of the issuer credit rating following closing of the Vine
acquisition, based on our view of the company's increased scale,
improved profitability, and still low leverage. We expect to
resolve the CreditWatch placement around the close of the
transaction, which we expect in the fourth quarter of 2021 and
expect to raise ratings by one notch.

"The senior unsecured ratings remain 'BB-', given that recovery
ratings, as stated in our criteria, are capped at '3' for entities
rated in the 'BB' category, as we expect additional secured or pari
passu debt could be added on the path to hypothetical default."



CHZAC LLC: Seeks Court Approval to Retain Manager
-------------------------------------------------
CHZAC, LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of Louisiana to continue to employ and pay
salaries to its manager and insider, Chris Sander.

Mr. Sander's continued employment is essential to the ability of
the Debtor to continue to operate its dry-cleaning business in
Metairie, La.  His monthly salary is $5,000 to be paid in equal
twice monthly installments.

Mr. Sander can be reached at:

     Chris Sander
     Chzac LLC
     5038 W. Esplanade Avenue
     Metairie, LA 70006

                          About CHZAC LLC

CHZAC LLC, doing business as One Cleaners, filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
E.D. La. Case No. 21-10806) on June 21, 2021, disclosing total
assets of up to $500,000 and total liabilities of up to $1 million.
Chris Sander, manager, signed the petition.

Judge Meredith S. Grabill oversees the case.  

Lugenbuhl, Wheaton, Peck, Rankin & Hubbard and Cressend CPA, LLC
serve as the Debtor's legal counsel and accountant, respectively.


CITIUS PHARMACEUTICALS: Incurs $5.8 Million Net Loss in 3rd Quarter
-------------------------------------------------------------------
Citius Pharmaceuticals, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $5.82 million on zero revenues for the three months ended June
30, 2021, compared to a net loss of $4.68 million on zero revenues
for the three months ended June 30, 2020.

For the nine months ended June 30, 2021, the Company reported a net
loss of $18.09 million on zero revenues compared to a net loss of
$13.43 million on zero revenues for the same period during the
prior year.

As of June 30, 2021, the Company had $146.59 million in total
assets, $9.31 million in total liabilities, and $137.28 million in
total equity.

"During the quarter, we made progress with all of our programs
despite the ongoing challenges of conducting preclinical work and
clinical trials during the extended COVID-19 pandemic.  We remain
encouraged by the positive recommendation of the independent DMC to
continue the Mino-Lok Phase 3 pivotal superiority trial as planned
and are fully committed to submitting an NDA for the treatment of
infected catheters, a potentially life-threatening condition for
the nearly 500,000 patients with catheter-related bloodstream
infections in the U.S. each year.  Given rising COVID-19 infection
rates across the U.S., hospitals are, understandably, prioritizing
COVID-19 patients and studies.  Consequently, we expect recruitment
for our Mino-Lok trial will be slower in the near term than we had
originally planned.  To address this, we are exploring multiple
paths to support our patient recruitment and randomization efforts
and are confident that we have the resources in place to complete
the trial in a timely manner.  We look forward to updating you on
these efforts in due course," stated Myron Holubiak, President and
Chief Executive Officer of Citius Pharmaceuticals.

"The persistence of COVID-19 is a reminder that treatment of acute
respiratory distress syndrome (ARDS) will continue to be an
important need worldwide.  Accordingly, we remain focused on
further developing our engineered stem cell program, which holds
the potential to offer a novel and scalable therapy for all causes
of ARDS.  We have initiated a pilot study in mice and are
completing our proof-of-concept sheep study, for which we expect to
have topline results by the end of this quarter.  Additionally, our
IND submission for Halo-Lido is on track for later this year and in
vitro CMC work for Mino-Wrap is underway.  With a solid balance
sheet to support our activities, we are now better positioned than
ever before to execute our strategy and deliver value to patients
and shareholders," added Mr. Holubiak.

As of June 30, 2021, the Company had $115.7 million in cash and
cash equivalents.  During the three months ended June 30, 2021, the
Company issued 11.2 million shares of Citius common stock upon the
exercise of warrants for aggregate proceeds of approximately $16.9
million.  During the nine months ended June 30, 2021, the Company
received $31.1 million in proceeds from the exercise of common
stock warrants.

In January 2021, the Company closed a private placement for common
stock and warrants totaling gross proceeds of approximately $20
million.  In February 2021, the Company closed a registered direct
offering of its common stock and warrants for gross proceeds of
approximately $76.5 million.

On June 21, 2021, stockholders approved an amendment to the
Company's Articles of Incorporation to increase the authorized
number of shares from 210,000,000 to 410,000,000 and the authorized
number of common shares from 200,000,000 to 400,000,000.  As of
June 30, 2021, the Company had 145,979,429 common shares issued and
outstanding.

During the first half of 2021, the Company raised a total of $127.6
million through financing activities.  The Company estimates that
the Company will have sufficient funds for its operations through
March 2023.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1506251/000121390021042071/f10q0621_citiuspharma.htm

                            About Citius

Headquartered in Cranford, NJ, Citius Pharmaceuticals, Inc. --
http://www.citiuspharma.com-- is a specialty pharmaceutical
company dedicated to the development and commercialization of
critical care products targeting unmet needs with a focus on
anti-infectives, cancer care and unique prescription products.

Citius reported a net loss of $17.55 million for the year ended
Sept. 30, 2020, compared to a net loss of $15.56 million for the
year ended Sept. 30, 2019.  As of March 31, 2021, the Company had
$134.67 million in total assets, $8.90 million in total
liabilities, and $125.77 million in total equity.

Boston-based Wolf & Company, P.C., the Company's auditor since
2014, issued a "going concern" qualification in its report dated
Dec. 16, 2020, citing that the Company has suffered recurring
losses and negative cash flows from operations and has a
significant accumulated deficit.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


CPG INTERMEDIATE: S&P Places 'B' ICR on Watch Negative on IPS Sale
------------------------------------------------------------------
S&P Global Ratings placed all its ratings on CPG Intermediate LLC,
including its 'B' issuer credit rating, on CreditWatch with
negative implications.

S&P plans to resolve the CreditWatch when additional information on
the debt structure is available or upon completion of the
transaction.

The CreditWatch placement follows the announcement that CPG has
entered into a definitive agreement to sell IPS Corp. to funds
advised by Centerbridge. S&P said, "We view the transaction as
potentially having negative credit implications for CPG because IPS
accounts for a substantial portion of the company's revenues and
EBITDA. Furthermore, with the divestiture we expect significant
customer concentration in the remaining CPG business. Our
CreditWatch indicates we could lower our issuer credit rating on
CPG upon close of the transaction if the company has debt
outstanding."

S&P said, "We expect to resolve the CreditWatch when additional
information on the debt structure is available or following
completion of the transaction. We will monitor related
developments, including receipt of necessary shareholder approvals
and regulatory clearances. The CreditWatch negative listing on CPG
reflects our expectation that, if the company goes through with the
sale as planned, we could lower the rating due to a much smaller
operating footprint, significant customer concentration, and
uncertainty about the capital structure.

"If the transaction is not completed, we would likely affirm our
'B' issuer credit rating on the company, remove it from
CreditWatch, and assign a stable outlook. This assumes its
operating performance and credit measures remain in our expected
range for the rating and that we believe there is no change in
financial policy or capital structure."



CRYSTAL FOUNTAIN: Unsec. Creditors to Get $2K per Year for 2 Years
------------------------------------------------------------------
James C. Lewis, Sr., LLC, a Debtor Affiliate of Crystal Fountain
Chapel Funeral Home, LLC, filed with the U.S. Bankruptcy Court for
the Eastern District of Michigan a Combined Plan of Reorganization
and Disclosure Statement dated August 10, 2021.

James C. Lewis, Sr., LLC owns the real property commonly known as
967 W. Michigan Avenue, Ypsilanti, MI 48197 (the "Real Property")
from which Crystal Fountain Chapel Funeral Home, LLC operates. Each
Debtor has common creditors, equity interests, and has interrelated
business interests regarding the operation of the funeral home
located at the Real Property.

This Plan should be viewed in conjunction with the plan of
reorganization of Crystal Fountain Funeral Home, LLC ("Companion
Plan"). The Plan and the Companion Plan have substantially similar
terms.

Prior to the Petition Date, the Debtor had defaulted under its
obligations with Huntington National Bank and incurred significant
liabilities to creditors. The Debtor, Crystal Fountain, Elder
Melvin Lewis and Willie Lewis are jointly liable on the claims
asserted by Huntington.

Class I consists of the secured claim of Huntington National Bank.
Huntington shall possess an allowed secured claim in the amount of
$155,000.00 against the Real Property. Huntington asserts a claim
without regard to the value of the Real Property of $417,120.56.
The fair market value of the Real Property is $155,000.00.
Huntington's remaining claim besides the Secured Amount is
unsecured and will be treated in Class II.

The Secured Amount will be paid in the following manner:

     * Payment by or on behalf of the Debtor, in good and
sufficient funds of $50,000.00 on or before the Confirmation Order
becomes a Final Order, made payable to the Huntington National Bank
("Initial Payment").

     * Payments by or on behalf of the Debtor, in good and
sufficient funds in the amount of $3,179.57 per month ("Monthly
Payments") for 36 months, which included interest of 5.5%. Monthly
payments will start on the 1st of the first month after the
Confirmation Order becomes a Final Order.

The Subchapter V Trustee, Counsel for James C. Lewis, Sr., LLC and
Crystal Fountain Chapel Funeral Home, LLC and Huntington National
Bank had extensive negotiations regarding the treatment of
Huntington's Claims prior to the filing of this Plan and the
Companion Plan. The treatment has been preliminarily approved by
Huntington.

Class II consists of the Holders of Allowed Unsecured Claims.
Debtor shall pay $2,000.00 per year, the payments will be due on
September 31, 2025 and September 31, 2026. A Creditor in this Class
shall receive a pro rata distribution incident to its allowed
general unsecured claim. Payments to Allowed Unsecured Claims will
be paid annually starting years 4 and 5 of the Plan. This Class is
impaired.

Class III consists of equity security holders in the Debtors.
Equity Security Holders shall retain their interests in the Debtor
and Reorganized Debtor.

The Debtor will continue to operate and address creditors pursuant
to the Confirmation Order in conjunction with the Crystal
Fountain.

A full-text copy of the Disclosure Statement dated August 10, 2021,
is available at https://bit.ly/3xHifyc from PacerMonitor.com at no
charge.

Counsel for Debtor:

     Michael Stevenson
     Ernest M. Hassan, III
     Stevenson & Bullock, PLC
     26100 American Drive, Suite 500
     Southfield, MI 48034
     Telephone: (248) 354-7906
     Facsimile: (248) 354-7907

              About Crystal Fountain Chapel Funeral Home

Crystal Fountain Chapel Funeral Home, LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Mich. Case No. 21-44190) on May 12, 2021, listing under $1
million in both assets and liabilities. Elder Melvin Lewis,
responsible person, signed the petition. Judge Lisa S. Gretchko
oversees the case. Stevenson & Bullock, PLC serves as the Debtor's
counsel.


DARREN MARTIN: Taps  Adrienne Martin as Real Estate Agent
---------------------------------------------------------
Darren Martin, Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to employ Adrienne Martin of
Berkshire Hathaway as its real estate agent.

The Debtor needs a real estate agent to list and market its real
properties located at (i) 1579 Montreat Ave., Atlanta, Ga; (ii) 814
Greenhedge Way, Stone Mountain, Ga., and (iii) 2115 Honeysuckle
Lane, Atlanta, Ga.

Berkshire Hathaway charges a 1 percent commission for listing the
properties.  Meanwhile, Ms. Martin has agreed to waive her
commission and to pay a 3 percent commission to the buyer's agent.


Ms. Martin disclosed in a court filing that she and other members
of Berkshire Hathaway neither hold nor represent an interest
adverse to the Debtor's estate.

The firm can be reached through:

     Adrienne Martin
     Berkshire Hathaway HomeServices
     Georgia Properties
     1876 Princeton Avenue
     College Park, GA 30337
     Mobile: (404) 409-0080
     Email: adrienne.martin@bhhsgeorgia.com

                     About Darren Martin Inc.

Darren Martin, Inc. filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
21-55682) on July 30, 2021, listing between $500,000 and $1 million
in both assets and liabilities. Darren Martin, chief executive
officer, signed the petition. Jones & Walden, LLC serves as the
Debtor's legal counsel.


DECO-USA, LLC: Unsecureds to Recover 100% in Amended Plan
---------------------------------------------------------
Deco-USA, LLC, amended and updated on Aug. 11, 2021, its proposed
Plan and Disclosure Statement that was filed in May 2021.

The Amended Plan does not alter the treatment of unsecured claims.

General unsecured creditors in Class 2 will receive 100% of their
allowed claims, to be distributed in monthly payments out of future
business operations or from capital contribution.

The Debtor scheduled four unsecured creditors, which totals
$34,457.  These claims will be paid in 12 equal monthly
installments of $3,000 per month which includes interest at 2% per
annum.  The monthly payments will be made on the 25th of the month
following the Effective Date, and on the 25th of each month
thereafter until paid.

Ligia Aguilar and Moderoli, LLC will retain their interest in the
Debtor.

A copy of the Amended Disclosure Statement is available for free at
https://bit.ly/37L2aNm from PacerMonitor.com.

                         About Deco-USA LLC

Deco-USA LLC is a Single Asset Real Estate debtor (as defined in
Section 101(51B) of the Bankruptcy Code).  The Debtor is the fee
simple owner of two properties located in San Antonio, Texas having
a total appraised value of $6.45 million.

The Debtor filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
21-50679) in the United States Bankruptcy Court for the Western
District of Texas on May 28, 2021.

As of the Petition Date, the Debtor disclosed $6,455,518 in total
assets and $4,070,289 in total liabilities.  Raul Aguilar, manager,
signed the petition.  Judge Craig A. Gargotta is assigned to the
case.  DEAN W. GREER is the Debtor's counsel.


DIFFUSION PHARMACEUTICALS: Incurs $3.8M Net Loss in 2nd Quarter
---------------------------------------------------------------
Diffusion Pharmaceuticals Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $3.78 million for the three months ended June 30, 2021,
compared to a net loss of $3.13 million for the three months ended
June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $8.42 million compared to a net loss of $5.68 million for
the six months ended June 30, 2020.

As of June 30, 2021, the Company had $52.71 million in total
assets, $2.54 million in total liabilities, and $50.17 million in
total stockholders' equity.

Diffusion said, "The Company has not generated any revenues from
product sales and has funded operations primarily from the proceeds
of public and private offerings of equity, convertible debt and
convertible preferred stock.  Substantial additional financing will
be required by the Company to continue to fund its research and
development activities.  No assurance can be given that any such
financing will be available when needed, or at all, or that the
Company's research and development efforts will be successful.

"The Company regularly explores alternative means of financing its
operations and seeks funding through various sources, including
public and private securities offerings, collaborative arrangements
with third parties and other strategic alliances and business
transactions.  The Company does not have any commitments to obtain
additional funds and may be unable to obtain sufficient funding in
the future on acceptable terms, if at all.  If the Company cannot
obtain the necessary funding, it will need to delay, scale back or
eliminate some or all of its research and development programs or
enter into collaborations with third parties to commercialize
potential products or technologies that it might otherwise seek to
develop or commercialize independently; consider other various
strategic alternatives, including a merger or sale of the Company;
or cease operations.  If the Company engages in collaborations, it
may receive lower consideration upon commercialization of such
products than if it had not entered such arrangements or if it
entered into such arrangements at later stages in the product
development process.

"Operations of the Company are subject to certain risks and
uncertainties including various internal and external factors that
will affect whether and when the Company's product candidates
become approved drugs and how significant their market share will
be, some of which are outside of the Company's control.  The length
of time and cost of developing and commercializing these product
candidates and/or failure of them at any stage of the drug approval
process will materially affect the Company's financial condition
and future operations.  The Company expects that its existing cash
and cash equivalents as of June 30, 2021 will enable it to fund its
operating expenses and capital expenditure requirements, including
expected costs related to the planned Oxygenation Trials and the
Planned Hypoxia-related Indication Trial(s), through 2023."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1053691/000143774921019370/dffn20210630_10q.htm

                  About Diffusion Pharmaceuticals

Diffusion Pharmaceuticals Inc. is an innovative biotechnology
company developing new treatments that improve the body's ability
to bring oxygen to the areas where it is needed most, offering new
hope for the treatment of life-threatening medical conditions.
Diffusion's lead drug TSC was originally developed in conjunction
with the Office of Naval Research, which was seeking a way to treat
hemorrhagic shock caused by massive blood loss on the battlefield.


Diffusion reported a net loss of $14.18 million for the year ended
Dec. 31, 2020, compared to a net loss of $11.80 million for the
year ended Dec. 31, 2019.  As of March 31, 2021, the Company had
$56.21 million in total assets, $2.57 million in total liabilities,
and $53.65 million in total stockholders' equity.


DIRECTV HOLDINGS: S&P Lowers Unsecured Debt Rating to 'B'
---------------------------------------------------------
S&P Global Ratings lowered its issue-level ratings on DirecTV
Holdings LLC's remaining unsecured debt to 'B' from 'BBB' and
removed the rating from CreditWatch (where S&P had placed it with
negative implications on March 1, 2021) following the closing of
DirecTV's spin-off from AT&T. S&P's recovery rating on the
unsecured notes, which total about $195 million, is '6'. This
indicates its expectation for negligible recovery (0%-10%; rounded
estimate: 0%) in a simulated default scenario. As a result, S&P
rates the unsecured debt two notches below its 'BB-' issuer credit
rating on parent DirecTV Entertainment Holdings LLC.



DREAM DUFFEL: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Dream Duffel, LLC
        13800 24th Ave. N Suite 330
        Plymouth, MN 55441

Business Description: Dream Duffel, LLC offers duffel bags for
                      competitive dancers, skaters, pageantry and
                      other competitive sports.

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       District of Minnesota

Judge: Hon. Katherine A. Constantine

Case No.: 21-41447

Debtor's Counsel: John D. Lamey III, Esq.
                  LAMEY LAW FIRM, P.A.
                  980 Inwood Ave N
                  Oakdale, MN 55128-7094
                  Tel: 651-209-3550
                  Fax: 651-789-2179
                  Email: jlamey@lameylaw.com

Total Assets: $705,501

Total Liabilities: $1,642,160

The petition was signed by Barbara L. Johnson as CEO.

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

https://www.pacermonitor.com/view/6UAFI6I/DREAM_DUFFEL_LLC__mnbke-21-41447__0001.0.pdf?mcid=tGE4TAMA


EAST PENN CHILDREN'S: Has Until Oct. 12 to File Chapter 11 Plan
---------------------------------------------------------------
Judge Patricia M. Mayer has entered an order within which debtor
East Penn Children's Learning Academy, LLC, shall file a Chapter 11
Plan Statement on or before October 12, 2021.  

A copy of the order dated August 10, 2021, is available at
https://bit.ly/2XppiPA from PacerMonitor.com at no charge.

                 About East Penn Children's Learning Academy

East Penn Children's Learning Academy, LLC, filed a Chapter 11
bankruptcy petition (Bankr. E.D. Pa. Case No. 20-14646) on Dec. 4,
2020.  The Debtor hired The Law Office of Robert J. Birch, as
counsel.


EASTERDAY RANCHES: Tyson Seeks Control of Feedlot From Agri Beef
----------------------------------------------------------------
Don Jenkins of Capital Press reports that Tyson Fresh Meats has
gone to court to forcibly acquire the Pasco, Wash., feedlot that
bankrupt cattleman Cody Easterday sold to a major competitor last
year after bilking Tyson out of $233 million.

Tyson is offering $25 million -- $9 million more than Agri Beef
paid -- for the cattle feeding operation known as North Lot.  Tyson
is asking a bankruptcy judge to void the sale to Agri Beef, arguing
the deal shortchanged it and other unpaid creditors.

"The $16 million purchase price was woefully inadequate," Tyson
claims in a complaint filed Monday, August 9, 2021 in U.S.
Bankruptcy Court for Eastern Washington.

The dispute leaves final ownership of the feedlot uncertain. Agri
Beef President Matt Buyers said in a court filing that the
Idaho-based company bought the feedlot in good faith in an arm’s
length transaction.

Easterday, 50, pleaded guilty in March to defrauding Tyson out of
$233 million and another company out of $11 million by billing them
for cattle he never actually bought or fed. Easterday delivered
cattle to Tyson's processing plant in Pasco.

In a plea deal with federal prosecutors, Easterday agreed to pay
restitution. He is scheduled to be sentenced Oct. 5 on one count of
wire fraud.

Several Easterday farms in the Columbia Basin have been sold
through bankruptcy court for $209 million to Farmland Reserve Inc.,
owned by The Church of Jesus Christ of Latter-day Saints.

Tyson supported the sale to Farmland, which operates in Washington
as AgriNorthwest, but says it was blindsided by the pre-bankruptcy
sale of North Lot.

                         MAKING AMENDS

Tyson uncovered Cody Easterday's fraud in December and discussed
acquiring the feedlot to begin making amends. Easterday estimated
the lot's worth at $20 million, according to Tyson.

In late January 2021, on a Friday Tyson executives learned in a
conference call with Easterday and his financial adviser, Pete
Richter of Paladin Management Group, that Easterday planned to sell
the lot within a few days.

Easterday and Richter declined to identify the buyer. Over the
weekend, Tyson prepared to go to court to stop the sale, but
learned Monday, August 9, 2021, that the sale had closed the
previous Friday, August 6, 2021.

Besides claiming it was duped, Tyson also criticizes how the $16
million was distributed.

According to a spreadsheet sent to Tyson by Easterday's lawyer,
Richard Pachulski, more than $11.7 million went to Easterday Farms
and the English Hay Company, two other companies owned by Easterday
family members.

Pachulski's Los Angeles law firm got $600,000, while Richter's
management group got $625,604.

Creditors got only $2.1 million, leaving some bills unpaid.

Six unpaid balances shown on the spreadsheet topped six figures,
including $804,000 owed one business for veterinarian services.
None of the money shown distributed went to Tyson.

Pachulski's law firm was later retained as lead counsel for
Easterday's Chapter 11 bankruptcy, and Richter and another Paladin
partner were retained as co-chief restructuring officers.

Tyson claims Pachulski's law firm and Paladin have conflicts in
reconsidering the pre-bankruptcy sale to Agri Beef. Efforts to
reach Pachulski and Richter were unsuccessful.

A post-sale appraisal valued North Lot at $9 million. Tyson calls
the appraisal self-serving and flawed, considering Tyson’s
standing offer to pay $25 million.

In the face of Tyson's bid to obtain the feedlot, Agri Beef went
ahead Tuesday and paid the bankrupt Easterday Ranches $1 million
for trucks, tractors and other equipment at North Lot.

Bankruptcy Judge Whitman Holt in Yakima approved the equipment
sale. Agri Beef certainly owns the rolling stock, but Tyson’s bid
to acquire the ground will be decided later, the judge said.

If Tyson prevails, it creates a logistical issue. You (Agri Beef)
have to come and get your stuff off the property," Holt said.

             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.


EHT US1 LLC: Unpaid Potter Anderson to Exit Ch.11 Counsel Role
--------------------------------------------------------------
Law360 reports that an unpaid Potter Anderson & Corroon LLP won
release Thursday, August 12, 2021, from its role as counsel to
former insiders and sponsors of a hotel real estate investment
trust that saw its luxury hospitality properties tumble into a
complex Chapter 11 in Delaware earlier this 2021.

Judge Christopher S. Sontchi's decision during a teleconference
hearing on EHT US1 LLC's case allows Potter Anderson to end its
representation of Urban Commons LLC and Howard Wu and Taylor Woods,
who remain under the cloud of a court referral for potential
prosecution of federal fraud claims.

                  About Eagle Hospitality Group

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

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

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

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

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

                         *     *     *

The Debtors have commenced a sale process aimed at maximizing the
value of the Debtors' assets.  On May 28, 2021, the Court entered
four sale orders authorizing the sale of all but one of the
Debtors' hotels for approximately $482 million.


ELECTRONIC DATA: May Use Cash Collateral Thru August 24 Hearing
---------------------------------------------------------------
Judge Lena M. James of the U.S. Bankruptcy Court for the Middle
District of North Carolina authorized Electronic Data Magnetics,
Inc. to use cash collateral through the earlier of (i) August 24,
2021 at 9:29 a.m.; (ii) the entry of an Order terminating or
otherwise modifying the Debtor's permitted use of Cash Collateral;
or (iii) the entry of a final order authorizing the use of Cash
Collateral.  

The Debtor shall only be authorized to use cash collateral to pay
for the Truist Bank Expense line items as set forth in the budget,
and shall not use cash collateral for payment of any other expense,
unless otherwise authorized by order of the Court.

The budget provided for Truist funded payroll and operating
expenses, as follows:

                                       Operating    
    Week Ending           Payroll      Expenses
    -----------           --------     ---------
    August 13, 2021        $25,672       $5,000

    August 20, 2021        $25,672       $7,500

    August 27, 2021        $25,672       $7,500

The Debtor needs the continued use of cash collateral to finalize
existing orders and work-in-process and to work toward the possible
closing of a sale of substantially all of the Debtor's assets.

As adequate protection for the interest of Truist Bank and the U.S.
Small Business Administration in the cash collateral -- to the
extent the Debtor uses Cash Collateral -- Truist and the SBA are
granted a valid, attached, choate, enforceable, perfected and
continuing security interest in and lien on all postpetition assets
of the Debtor that is of the same character and type, and to the
same extent, as the liens and encumbrances that their security
interests imposed on the Debtor's assets prepetition.  

As additional adequate protection for Truist's interest in the cash
collateral, the Debtor shall pay Truist monthly adequate protection
payments in an amount equal to its non-default rate of interest
with respect to the First Note and the Second. The Debtor is not
required to pay interest with respect to the Payment Protection
Program loan by Truist to the Debtor.

As additional adequate protection for the SBA's interest in cash
collateral, the Debtor shall keep the SBA Debt current by making
the regular monthly payments as set forth in the budget.  Pursuant
to the loan documents, the Debtor is obligated to pay the SBA $731
per month beginning May 28, 2021.

The Court further ruled that there shall be carved out from cash
collateral or any replacement collateral an aggregate amount
necessary to pay all Permitted Trailing Expenses.  Permitted
Trailing Expenses include the costs, on the Termination Date, of
operating and preserving the estate, including allowed
administrative fees, costs, or expenses -- to the extent incurred
post-petition and prior to said Termination Date -- of up to 110%
of the aggregate amounts in the Budget and labeled as Truist
Expense.

Truist asserts that it is owed by the Debtor over $3,500,000 on
account of one or more loans and financial accommodations extended.
Said debt, excluding the Payroll Protection Program loan to the
Debtor, is secured by a valid and perfected security interest in
and lien on all accounts, equipment, inventory, and general
intangibles of the Debtor, and the proceeds thereof.

The Debtor owed SBA $150,000 for prepetition loan, which is secured
by a valid and perfected security interest in and lien on all
accounts of the Debtor, and the proceeds thereof.

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

A further interim hearing on the Cash Collateral Motion will be
held on August 24, 2021, at 9:30 a.m.

                  About Electronic Data Magnetics
    
Electronic Data Magnetics manufactures and reproduces magnetic and
optical media.  The Company is a manufacturer of technically
advanced printed products used in a variety of markets including,
airlines, mass transit agencies, toll roads, parking institutions,
betting slips, printing for US GPO, tabulating cards, and RFID
tags.

Electronic Data Magnetics sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 21-10222) on April
22, 2021. In the petition signed by R. Richard Hallman, president
and CEO, the Debtor disclosed up to $10 million in both assets and
liabilities.

Judge Lena M. James oversees the case.

James C. Lanik, Esq. at Waldrep Wall Babcock & Bailey PLLC is the
Debtor's counsel.

Truist Bank, as lender, is represented by Bell, Davis & Pitt, P.A.


ENDICOTT MEATS: $548K Sale to Japan Premium to Fund Plan
--------------------------------------------------------
Endicott Meats Inc., ("Meats") and Endicott Realty Inc., ("Realty")
(collectively the "Debtors") filed with the U.S. Bankruptcy Court
for the Southern District of New York a Disclosure Statement in
connection with Chapter 11 Plan of Liquidation dated August 10,
2021.

The Plan will be implemented through, and the Distributions
contemplated to be made under the Plan will be funded by, the net
proceeds received by the Debtor at the closing on the sale of
substantially all of the its assets pursuant to the Order of the
Bankruptcy Court entered on October 20, 2020 in the total amount of
$547,632.36.

An auction between Japan Premium Beef Inc. ("JPB") and Westside was
conducted by the Court on October 19, 2020. JPB was the highest
bidder at the auction on its bid for all of the assets in the
amount of $575,000.00. A closing on the sale of the Debtor's assets
pursuant to the Orders was held on February 26, 2021. The net
proceeds paid at closing from the sale in the amount of $547,632.36
are being held by the Debtor's attorneys Reich, Reich & Reich, P.C.
pursuant to the Sale Order and pending further order of the Court.

Under the Plan, the Sale Proceeds will be used to fully pay all
Statutory Fees, Administrative Claims, Priority Tax Claims and
General Unsecured Claims pursuant to the terms of the Plan. It is
not anticipated that there will be any surplus funds after payment
of the Claims. In the event there is surplus funds they shall be
paid, in pari passu, to the shareholders of the Debtor. It is
proposed that the Effective Date of the Plan shall be one Business
Day after the Confirmation Order becomes a Final Order.

Class 1 consists of Priority Tax Claims. Class 1 claims will be
paid in full, in cash, together with statutory interest on the
Effective Date or as soon thereafter as reasonably practicable.
Class 1 is impaired under the Plan and, thus, holder of Class 1
Priority Tax Claims are entitled to vote on the Plan.

Class 2 consists of the Allowed General Unsecured Claims. Class 2
General Unsecured Claims will be paid, in pari passu, from the
funds remaining on hand following payment of Statutory Fees,
Administrative Claims and Priority Tax Claims. Class 2 is impaired
under the Plan and, is entitled to vote on the Plan.

Class 3 consists of the unsecured claim on Endicott Meats against
Endicott Realty in the amount of $101,266.00, on account of an
intra-company loan from Meats to Realty. Class 3 is not impaired
under the Plan. Endicott Meats is an insider of the Debtor whose
Interests are not impaired under the Plan and therefore it is not
entitled to vote on the Plan on account of its Class 3 Interests.
To the extent that there is any Available Cash after full payment
of all Statutory Fees, Administrative Claims, Priority Tax Claims
in Class 1 and General Unsecured claims in Class 2, Class 3 shall
receive the entirety of the available amount.

Class 4 consists of the Interests of the shareholders in the
Debtor. Class 4 Interests are not affected by this Plan and they
shall continue to retain and maintain such Interests in the Debtor
and the Post-Confirmation Debtor following Confirmation of the
Plan. To the extent that there is any Available Cash after full
payment of all Statutory Fees, Administrative Claims, Priority Tax
Claims in Class 1, General Unsecured claims in Class 2 and Intra
Company Loan Claims in Class 3, the shareholder shall receive the
entirety of the available amount.

All proceeds of the sale, including the net proceeds currently held
in escrow by the Reich Firm pursuant to the Sale Order, and any and
all payments made to the Debtor under the Note shall be paid to
Creditors and Interests Holders in order of priority in accordance
with the Plan. All Distributions required to be made under the Plan
shall be made by the Reich Firm, as Disbursing Agent, in accordance
with the terms of the Plan from the Sale Proceeds and any cash on
hand.

A full-text copy of the Disclosure Statement dated August 10, 2021,
is available at https://bit.ly/3jQtDTh from PacerMonitor.com at no
charge.

Attorneys for the Debtors:

     Nicholas A. Pasalides, Esq.
     Reich Reich & Reich, P.C.
     235 Main Street, Suite 450
     White Plains, NY 10601
     Tel: 914-949-2126
     Fax: 914-949-1604
     Email: reichlaw@reichpc.com

                    About Endicott Meats Inc.

Endicott Meats, Inc., is a meat wholesaler located at Hunts Point
Cooperative Market, Unit B-23 Bronx, N.Y.  It offers a large
selection of veal, beef, lamb, pork and poultry products.

Endicott Meats filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-23966) on
Nov. 7, 2019. In the petition signed by Frederic Braunshweiger,
president, the Debtor disclosed $202,472 in assets and $1,202,425
in liabilities.

Judge Robert D. Drain oversees the case.

Reich Reich & Reich, P.C. and J.H. Williams & Co., LLP serve as the
Debtor's legal counsel and accountant, respectively.


ENERGY ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Energy Enterprises USA Inc.
           d/b/a Canopy Energy
        4700 Merlin Place
        Encino, CA 91436

Business Description: Energy Enterprises --
                      https://www.canopyenergy.com -- is a
                      residential solar energy developer in
                      California.

Chapter 11 Petition Date: August 12, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-11374

Judge: Hon. Maureen Tighe

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lior Agam as president.

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

https://www.pacermonitor.com/view/HMMM3VQ/Energy_Enterprises_USA_Inc_dba__cacbke-21-11374__0001.0.pdf?mcid=tGE4TAMA


EVOKE PHARMA: Incurs $2.3 Million Net Loss in Second Quarter
------------------------------------------------------------
Evoke Pharma, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.29 million on $236,635 of net product sales for the three
months ended June 30, 2021, compared to a net loss of $6.97 million
on zero net product sales for the same period in 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $4.90 million on $327,056 of net product sales compared to
a net loss of $8.76 million on zero net product sales for the six
months ended June 30, 2020.

As of June 30, 2021, the Company had $17.56 million in total
assets, $11.59 million in total liabilities, and $5.97 million in
total stockholders' equity.

Research and development expenses totaled approximately $195,000
for the second quarter of 2021 compared to approximately $5.8
million for the second quarter of 2020.  The decrease in research
and development expenses was due to the achievement of the
commercial milestone of GIMOTI receiving FDA approval.

For the second quarter of 2021, selling, general and administrative
expenses were approximately $2.1 million compared to approximately
$1.2 million for the second quarter of 2020.  The increase in SG&A
was primarily related to commercialization activities.  The Company
expects that selling, general and administrative expenses will
increase in the future as it continues to progress with the
commercialization of GIMOTI and the Company reimburses Eversana
from the net profits attained from the sales of GIMOTI.

Total operating expenses for the second quarter of 2021 were
approximately $2.4 million compared to total operating expenses of
approximately $7.0 million for the same period of 2020.

As of June 30, 2021, the Company's cash and cash equivalents were
approximately $16.7 million.  The Company expects its cash and cash
equivalents as of June 30, 2021, as well as cash flows from future
net sales of Gimoti, will be sufficient to fund its operations into
the third quarter of 2022.

"Through our continuing commercial expansion, increasing in-person
access to physicians, and growing visibility within the
gastroparesis community, we are encouraged by the momentum achieved
in the second quarter," stated David A. Gonyer, R.Ph., president
and CEO of Evoke Pharma.  "Notably, we continued to observe
positive trends in refill rates, sales growth, and prescribing
physicians, affirming our belief that we are gaining traction among
new doctors and patients.  As we enter the second half of the year,
we look forward to driving our commercial and marketing initiatives
forward and establishing GIMOTI as the preferred treatment option
for patients suffering from diabetic gastroparesis."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1403708/000156459021043994/evok-10q_20210630.htm

                         About Evoke Pharma

Headquartered in Solana Beach, California, Evoke --
http://www.evokepharma.com-- is a specialty pharmaceutical company
focused primarily on the development of drugs to treat GI disorders
and diseases.  The Company is developing Gimoti, a nasal spray
formulation of metoclopramide, for the relief of symptoms
associated with acute and recurrent diabetic gastroparesis in adult
women.

Evoke Pharma reported a net loss of $13.15 million for the year
ended Dec. 31, 2020, compared to a net loss of $7.12 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $19.29 million in total assets, $11.48 million in total
liabilities, and $7.81 million in total stockholders' equity.

BDO USA, LLP, in San Diego, California, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
March 11, 2021, citing that the Company has had recurring losses
and negative cash flows from operations since inception and expects
to continue to incur net losses for the foreseeable future.  The
determination as to whether the Company can continue as a going
concern includes consideration of managements operating plan and
anticipated timing of future cash flows.


FIVETOWER LLC: Seeks to Hire Pinchasik Yelen as Accountant
----------------------------------------------------------
FiveTower, LLC seeks approval from the U.S. Bankruptcy Court for
the Southern District of Florida to hire Pinchasik Yelen Muskat
Stein, LLC as its accountant.

The firm's services include the preparation of tax returns, advice
on valuation issues and financial consulting services.

As disclosed in court filings, Pinchasik is a "disinterested
person" as that term is defined by Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Gregory R. Haller, CPA
     Pinchasik Yelen Muskat Stein, LLC
     3225 Aviation Ave # 500
     Miami, FL 33133
     Phone: 305.858.5800
     Fax: 305.858.1636

                        About FiveTower LLC

FiveTower, LLC sought Chapter 11 protection (Bankr. S.D. Fla. Case
No. 21-17617) on Aug. 2, 2021, disclosing up to $1 million in
assets and up to $10 million in liabilities.

Judge Laurel M. Isicoff oversees the case.  

The Debtor tapped the Law Firm of Weiss Serota Helfman Cole &
Bierman, P.L. as bankruptcy counsel, Markowitz Ringel Trusty &
Hartog, PA as special counsel, Dinnall Fyne & Co. as financial
advisor, and Pinchasik Yelen Muskat Stein, LLC as accountant.


FIVETOWER LLC: Taps Dinnall Fyne & Co. as Financial Advisor
-----------------------------------------------------------
FiveTower, LLC seeks approval from the U.S. Bankruptcy Court for
the Southern District of Florida to hire Dinnall Fyne & Co. as its
financial advisor.

The firm's services include:

     a. reviewing and analyzing financial information prepared by
the Debtor or its accountants, including financial reports, assets
and liabilities and status of secured and unsecured debt;

     b. advising the Debtor in connection with the timely
preparation of a subchapter V Chapter 11 plan of reorganization;

     c. reviewing and analyzing pre-bankruptcy and post-petition
transfers to and from the Debtor to third parties;

     d. reviewing financial information for potential preference
payments, fraudulent transfers or any other matter that the Debtor
may request.

The firm received a retainer in the amount of $10,000.

Alan Fyne, a principal at Dinnall Fyne & Company, disclosed in a
court filing that his firm is a "disinterested person" as that term
is defined by Section 101 (14) of the Bankruptcy Code.

The firm can be reached through:

     Alan Fyne
     Dinnall Fyne & Company, Inc.
     7150 N University Dr Ste 229
     Coral Springs, FL 33071
     Phone: (954)-340-5696.

                        About FiveTower LLC

FiveTower, LLC sought Chapter 11 protection (Bankr. S.D. Fla. Case
No. 21-17617) on Aug. 2, 2021, disclosing up to $1 million in
assets and up to $10 million in liabilities.

Judge Laurel M. Isicoff oversees the case.  

The Debtor tapped the Law Firm of Weiss Serota Helfman Cole &
Bierman, P.L. as bankruptcy counsel, Markowitz Ringel Trusty &
Hartog, PA as special counsel, Dinnall Fyne & Co. as financial
advisor, and Pinchasik Yelen Muskat Stein, LLC as accountant.


FOSSIL GROUP: S&P Alters Outlook to Stable, Affirms 'B' ICR
-----------------------------------------------------------
S&P Global Ratings revised its outlook on Fossil Group Inc. to
stable from negative and affirmed its 'B' issuer credit rating.

S&P said, "We also affirmed our 'B+' issue-level rating and '2'
recovery rating on its $200 million senior secured first-lien term
loan maturing in 2024. The '2' recovery rating reflects our
expectation for substantial (70%-90%; rounded estimate: 70%)
recovery in the event of payment default.

"The stable outlook reflects our expectation that Fossil's
operating and financial performance will continue to improve in the
second half.

"The outlook revision reflects our expectation that Fossil will
improve its credit metrics in 2021 on increased demand and benefits
from cost-cutting initiatives. Fossil's S&P Global Ratings-adjusted
debt to EBITDA declined to 2.1x for the 12 months ended June 30,
down from 8.7x at the end of fiscal 2020. EBITDA interest coverage
improved to 3.1x from over 0.8x in the same period. The company's
2020 performance was significantly affected by retail shutdowns
because of the pandemic, with revenue down approximately 27% from
2019; however, its gross margin and cash flow generation exceeded
our expectations. Fossil posted 59% sales growth in the second
quarter ended June 2021 as it lapped its hardest hit quarter from
the pandemic. Moreover, the company's focus on streamlining
operations and cost-reduction initiatives allowed it to
significantly expand profitability. We believe improved revenue and
profit trends will continue over the second half of fiscal 2021 as
Fossil laps significant declines during the second half of fiscal
2020.

"However, we anticipate economic conditions remain uncertain in
2021 as the return to normalcy and improvements in consumer
mobility vary amid renewed concerns about spread of COVID-19
variants, which could curb consumers' recent spending on apparel
and accessories. We do not forecast that Fossil will improve sales
and EBITDA in fiscal 2021 relative to its 2019 performance. We
revised our base-case forecast and expect mid-teens percentage
sales growth and S&P Global Ratings-adjusted EBITDA of about $170
million for fiscal 2021 compared to $63 million in fiscal 2020 and
$188 million in 2019."

The New World Fossil program and additional cost savings
implemented during the pandemic position Fossil for margin
recovery, though execution risk remains. Before the COVID-19
pandemic, Fossil announced its multiyear New World Fossil 2.0
turnaround plan to boost performance by simplifying operations and
reallocating resources toward growth, resulting in run-rate savings
of about $200 million. The company planned to address its cost
position and merchandise, invest in product innovation and
creativity, increase focus on inventory management and supply chain
efficiency, reduce manufacturing complexities, and decrease
promotional activity. Additionally, it has made multiyear
investments in digital marketing and improved its capabilities to
leverage data analytics for better customer profiling, targeting,
and retention. During fiscal 2020, Fossil accelerated key
initiatives such as increasing digital capabilities, focusing on
the shift from wholesale to digital channels, and significantly
reducing store count and headcount. This would increase its
run-rate savings target to $250 million.

S&P said, "We believe continued successful execution of these
initiatives will improve profitability and counterbalance a
sustained reduction to its top line as traditional watches become
less relevant with consumers. We expect continued rationalization
of Fossil's retail store footprint with several leases coming due
over the next three years. We also expect the company to renew its
license with Google for its WEAR OS operating system before it
expires in April 2022. The loss of this license would be
detrimental to its smartwatch business, which accounts for about
15% of revenues." Key risks to our forecast include a
lower-than-anticipated recovery in consumer spending driven by
ongoing risk from the spread of new COVID-19 variants, inventory
and supply chain challenges, execution issues regarding New World
Fossil strategies, and heightened competition.

S&P said, "We forecast improving free operating cash flow (FOCF) in
the next two years and liquidity to remain adequate. Fossil ended
the second quarter with approximately $252 million cash and $42
million of untapped asset-based lending (ABL) facility
availability. The company's credit agreements require it to make
mandatory debt amortization payments of $40 million, and Fossil has
modest capital expenditure (capex) requirements of about $20
million. We expect seasonal working capital requirements to peak at
about $100 million. Although we view Fossil's term loan covenants
as restrictive given the sizable annual amortization requirement,
we expect liquidity requirements to be sufficiently covered by
sources over the next 12 months."

FOCF remained positive in fiscal 2020 despite a sharp revenue and
earnings decline because of efficient inventory management and
sharp cost reduction. Fossil also cut capex more than half to about
$10 million in 2020. S&P said, "We project rising investment
requirements in inventory and capex to more than offset earnings
recovery in 2021, resulting in a moderate cash burn. We anticipate
FOCF will improve in 2022, supported by continued recovery in
earnings and normalized inventory requirements."

Fossil has good market share in the traditional watch category,
which is mature and declining. Fossil is a leading player and
vertically integrated, with an in-house design team, manufacturing,
and distribution systems. However, S&P believes the category is in
secular decline, as the gradual decrease in sales over the last
several years demonstrates. We believe this is due to changing
consumer preferences and a shift toward smartwatches. Continued
issues at Michael Kors, sales of which have been particularly
impaired by the increasing penetration of the Apple Watch, drives
some of this weakness.

Fossil's distribution network includes e-commerce, company-owned
retail stores, department and specialty retail stores, airlines,
mass markets, and concessions. The company's research and
development division spurs innovation into its new products, and
company continues to invest in its digital capabilities to mitigate
some of the impact if the shift away from brick-and-mortar sales
accelerates. S&P said, "We believe all these factors result in
barriers to entry that will maintain market share. However, this
may not be enough to offset declines from the gradual and modest
decline in the size of the traditional watches segment, which we
expect to continue."

S&P said, "The stable outlook reflects our expectation that
Fossil's operating and financial performance will continue to
improve in the second half of 2021, supported by growth during the
holiday season. We expect it will maintain EBITDA interest coverage
in the high-2x area."

S&P could lower its ratings on Fossil if S&P expect it to maintain
EBITDA interest coverage below 2x. S&P believes this could occur
if:

-- Demand for the company's products remains weak, resulting in
material organic revenue declines; or

-- A worsening macro environment, heightened competition,
inability to renew the license with Google, or an operational
misstep stall sales and profit recovery prospects.

S&P could raise its rating on Fossil if:

-- The company continues to strengthen its profitability, broadens
its product portfolio away from traditional watches, and
demonstrates consistent organic revenue growth; and

-- A continued improvement in demand maintains EBITDA interest
coverage above 3x on a sustained basis.



FRS GROUP: Gets Court Approval to Use Cash Collateral
-----------------------------------------------------
Judge Timothy W. Dore of the U.S. Bankruptcy Court for the Western
District of Washington authorized FRS Group, Inc. to use cash
collateral to pay for the Debtor's operating expenses, including
future payroll and related taxes as set forth in the budget.  

Parties with an interest in the cash collateral are granted
replacement liens on the same collateral and in the same priority
as existed on the Petition Date, the Court ruled.

A copy of the order is available for free at https://bit.ly/3AGS1gS
from PacerMonitor.com.

                       About FRS Group, Inc.

FRS Group, Inc. owns and operates a "Fantastic Sam's" hair salon
located at 6883 Mesa Ridge Pky, Fountain, CO 80817, with corporate
headquarters located at 3407 H Ave., Anacortes, WA. The Debtor
owned and operated a second "Fantastic Sam's" location at 113395
Voyager Pky, Suite 100 Colorado Springs CO 80921 which was closed
prior to the petition date. FRS Group is currently in the process
of attempting to sell the second location.

The Debtor sought protection under Chapter 11 of the US Bankruptcy
Code (Bankr. W.D. Wash. Case No. 21-11367) on July 15, 2021. In the
petition signed by Autumn Lea Ginnetti, secretary, the Debtor
disclosed up to $500,000 in both assets and liabilities.

Judge Timothy W. Dore oversees the case.

Thomas D. Neeleman, Esq., at Neeleman Law Group, P.C. is the
Debtor's counsel.



FULL HOUSE RESORTS: Posts $5.5 Million Net Income in Second Quarter
-------------------------------------------------------------------
Full House Resorts, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $5.48 million on $47.44 million of revenues for the three months
ended June 30, 2021, compared to a net loss of $6.70 million on
$14.51 million of revenues for the three months ended June 30,
2020.

For the six months ended June 30, 2021, the Company reported net
income of $2.04 million on $89.65 million of revenues compared to a
net loss of $11.06 million on $45.36 million of revenues for the
same period a year ago.

As of June 30, 2021, the Company had $468.15 million in total
assets, $365.77 million in total liabilities, and $102.38 million
in total stockholders' equity.

As of June 30, 2021, the Company had $281.5 million in cash and
cash equivalents (including $176.6 million of cash reserved for the
construction of Chamonix), $310 million in outstanding senior
secured notes due 2028, and $5.6 million in outstanding unsecured
loans obtained under the CARES Act.  The Company believes that the
CARES Act loans will qualify for forgiveness, but there is no
certainty that any or all of such loans will be forgiven.  The
Company also has a $15 million senior secured revolving credit
facility, all of which was available to draw upon as of June 30,
2021.

Management Commentary

"As with last quarter, our financial results continue to benefit
from structural changes throughout the company," said Daniel R.
Lee, president and chief executive officer of Full House Resorts.
"Revenues in the second quarter of 2021 increased approximately
227%, reflecting the mandated closure of our properties for much of
last year's second quarter.  Adjusted EBITDA increased by more than
$16 million to $14.9 million in the second quarter of 2021,
reflecting labor and marketing improvements.  For the year-to-date
period, Adjusted EBITDA totaled $25.7 million.  These operating
results are significantly above not only the 2020 period, but also
meaningfully above any second quarter or first-half results in at
least the past five years.

"These strong continued results have allowed us to continue to
re-invest in, and improve, our properties.  For example, with the
ramp-up of our new marketing systems at Bronco Billy's and Rising
Star largely complete, we now look forward to upgrading the casino
marketing systems at our two Nevada properties, scheduled for this
year's fourth quarter.  Our Silver Slipper property, after several
years of adding new amenities and with a new exterior color scheme,
is essentially a new and reinvigorated destination.  We also
continue to invest in new slot product throughout the Company.  In
many ways, our current results are the product of several years of
investments in our casinos and new technology, as well as the
diligent efforts of our team across the country."

Continued Mr. Lee, "At our Chamonix project in Cripple Creek, we
have completed the major portion of the on-site utility work.
Installation of micro-piles for the project's foundation is
approximately 25% complete.  As construction prepares to go
vertical, we recently installed the highest crane tower, in terms
of cab height above sea level, in Colorado's history.  Substantial
completion of the project is expected in the fourth quarter of
2022. It is still relatively early in the construction process, so
estimates of cost and completion dates still contain substantial
uncertainty.

"We continue to believe that Colorado's gaming markets –
especially Cripple Creek - remain significantly underpenetrated and
do not have enough guestrooms.  Recent hotel expansions in Cripple
Creek and elsewhere in Colorado appear to be performing well.  The
development plan for our Chamonix site allows us to add an
additional hotel wing. We are currently evaluating whether to build
this additional hotel wing now, given the ease to do so while we
construct the broader Chamonix project.  That additional wing, if
constructed, would increase the total size of our hotel by 23% to
approximately 370 guestrooms.  We believe that it could be funded,
along with the rest of the project, from our existing cash
balances, which totaled $281.5 million at the end of the second
quarter.  Such addition requires approvals from the Cripple Creek
Historic Preservation Commission and Cripple Creek City Council.

"We also continue to pursue other growth opportunities in the
longer-term, including our proposed American Place project in
Waukegan, Illinois.  The Illinois Gaming Board recently hired a
consultant to help evaluate each of the three proposals remaining
in the process.  We look forward to the opportunity, perhaps later
this year, to share our vision for a new casino destination for the
Waukegan community.

"Also, the Indiana Gaming Commission recently issued a request for
proposals (RFP) to develop a casino in Terre Haute, Indiana, which
is approximately one hour west of Indianapolis.  Full House had
previously proposed development of a casino in Terre Haute and is
considering responding to the RFP."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/891482/000089148221000040/fll-20210630x10q.htm

                   About Full House Resorts Inc.

Headquartered in Las Vegas, Nevada, Full House Resorts --
www.fullhouseresorts.com -- owns, leases, develops and operates
gaming facilities throughout the country.  The Company's properties
include Silver Slipper Casino and Hotel in Hancock County,
Mississippi; Bronco Billy's Casino and Hotel in Cripple Creek,
Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and
Stockman's Casino in Fallon, Nevada.  The Company also operates the
Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and
Casino in Incline Village, Nevada under a lease agreement with the
Hyatt organization.  The Company is currently constructing a new
luxury hotel and casino in Cripple Creek, Colorado, adjacent to its
existing Bronco Billy's property.

Full House reported net income of $147,000 for the year ended Dec.
31, 2020, compared to a net loss of $5.82 million for the year
ended Dec. 31, 2019.  As of March 31, 2021, the Company had $453.94
million in total assets, $357.54 million in total liabilities, and
$96.41 million in stockholders' equity.

                             *   *   *

As reported by the TCR on Feb. 9, 2021, Moody's Investors Service
assigned a Caa1 Corporate Family Rating and Caa1-PD Probability of
Default Rating to Full House Resorts Inc. (FHR).  The Caa1 CFR
reflects the long, approximately 24 months, Bronco Billy's
construction period, uncertainty related to the level of visitation
and earnings at the redesigned property, FHR's modest scale, and
exposure to cyclical discretionary consumer spending.


GAIA INTERACTIVE: Unsecureds Out of Money in Subchapter V Plan
--------------------------------------------------------------
Gaia Interactive, Inc., filed with the U.S. Bankruptcy Court for
the Northern District of California a Plan of Reorganization for
Small Business dated August 10, 2021.

Gaia operates an online social environment that allows for social
networking, gaming and provides its subscribers with a virtual
world with everything from artistically drawn digital characters to
games, to art contests, to poetry forums and a digital
marketplace.

The Debtor's financial difficulties first began in 2019 as a result
of computer software company Adobe's announcement that it would
discontinue the support of its Adobe Flash Player software. In
2020, the Debtor also suffered financial setbacks as a result of
the COVID-19 global pandemic.

After missing three consecutive payments to senior secured creditor
Cathay Bank, the Debtor was sued for collection in Santa Clara
County Superior Court. Cathay also obtained writs of attachment
against Gaia's officers and directors, James Cao and Derek Liu,
both of whom were named as co-defendants with the Debtor as a
result of having personally guaranteed the debt of Cathay. After
attempts to reach an out of court restructuring agreement with
Cathay failed, Gaia filed for bankruptcy protection under
Subchapter V of chapter 11 with the intention to restructure the
Cathay debt and other obligations of the Debtor.

Payments due under the Plan total $1,945,855.52 including regular
monthly payments with interest to Cathay Bank of $6,863 during the
Plan period and consist of the following:

     * $215,600 for administrative claims;

     * $9,422 for priority tax claims;

     * $1,720,833.52 in total for Cathay Bank with interest on the
first $366,000.

The Debtor does not expect any funds to remain for distribution to
general unsecured creditors. Non-priority unsecured creditors
holding allowed claims will receive distributions, which the
proponent of this Plan has valued at 0 cents on the dollar. This
Plan also provides for the payment of administrative and priority
claims.

The interests of shareholder Novel Animation, Inc. shall be
retained and pass through the bankruptcy without modification.

The final Plan payment is expected to be paid not later than
September 30, 2026.

The Debtor will retain possession of the property of the estate.
They will continue to operate company. The Debtor will contribute
100% of its projected disposable income to make plan payments.
Payments made by James Cai and Derek Liu under the terms of their
respective plans shall be applied to reduce indebtedness owing to
the same creditors in this bankruptcy case, and payments made to
Cathay Bank by the individuals shall be applied under this Plan to
the portion of its allowed claim in excess of the value of its
collateral, if any.  

The proposes to pay creditors of the Debtors from personal
earnings, the proceeds of repayment of a business loan, and then
cash and proceeds from Debtors' investment account.

A full-text copy of the Plan dated August 10, 2021, is available at
https://bit.ly/37FpQCT from PacerMonitor.com at no charge.

                    About Gaia Interactive

Gaia Interactive, Inc. -- doing business under several names such
as Gaia Online; Gaia Online, LLC; Ravel Labs LLC and Unrave –
owns and operates online communities platform in Santa Clara,
California.  The Debtor filed a Chapter 11 petition (Bankr. N.D.
Cal. Case No. 21-50660) on May 12, 2021, in the U.S. Bankruptcy
Court for the Northern District of California.  The petition was
signed by James Cao, CEO.   

As of the Petition Date, the Debtor has $567,616 in total assets
and $8,193,464 in total liabilities.  Judge Stephen L. Johnson
oversees the case.  Binder & Malter, LLP represents the Debtor as
counsel.  

Monique D. Jewett-Brewster, Esq., at Hopkins & Carley, A Law
Corporation, represents Cathay Bank.


GENWORTH HOLDINGS: Moody's Gives (P)Caa1 Rating on Unsecured Debt
-----------------------------------------------------------------
Moody's Investors Service has assigned a provisional (P)Caa1 backed
senior unsecured and a provisional (P)Caa2 backed subordinated
rating to a multiple security shelf registration statement filed by
Genworth Holdings, Inc, (Genworth Holdings, Caa1 backed senior
unsecured) an intermediate holding company owned by Genworth
Financial, Inc. (Genworth, NYSE: GNW) (unrated), on April 12, 2021.
The outlook for Genworth Holdings, Inc. is unchanged at
developing.

RATINGS RATIONALE

According to Moody's, the rating on Genworth Holdings reflects the
company's material holding company resources, including its stake
in its mortgage operations and holding company cash and invested
assets. The company is constrained by its modest dividend capacity
in aggregate from its insurance subsidiaries, relative to its debt
load, and the challenges to organically build liquidity and a cash
buffer to further reduce its debt ladder.

During 2021, Moody's expect Genworth Holdings to have an improved
liquidity profile due to the continued cash flow from its tax
sharing arrangement with its subsidiaries, and cash on hand that
could provide adequate liquidity and a cash buffer. The successful
execution of an initial public offering of Enact Holdings, Inc.
(Enact, Ba3 issuer rating) would raise additional capital and
benefit creditors. Should a transaction close on Enact, Genworth is
expected to use the net proceeds to reduce its outstanding debt.
Execution of these transactions by Genworth may result in a
multiple notch upgrade in Genworth Holdings' ratings. However,
there is still uncertainty regarding the execution of this
transaction.

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

Upward pressure on Genworth Holdings' ratings could develop if
Genworth: 1) successfully executes the IPO transaction of its USMI
business; 2) improves its financial flexibility including a clear
path to managing its debt maturities; and 3) improves holding
company financial flexibility including increased dividend capacity
from its insurance companies

A downgrade of Genworth Holdings' ratings could result from the
following factors: 1) lack of progress in developing alternative
arrangements for its upcoming debt maturities beyond 2021; 2) if
the plans to raise capital from the USMI business are insufficient
or unsuccessful; and 3) a deterioration in holding company
financial flexibility including decreased dividend capacity from
its insurance companies

The following provisional ratings were assigned:

Genworth Holdings, Inc. -- provisional backed senior unsecured
rating at (P)Caa1; provisional backed subordinated rating at
(P)Caa2;

The rating outlook for Genworth Holdings, Inc. is unchanged at
developing.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Mortgage
Insurers Methodology published in November 2019.

Genworth Holdings is the intermediate holding company of Genworth,
an insurance and financial services holding company headquartered
in Richmond, Virginia. Genworth Holdings also acts as a holding
company for its respective subsidiaries including its life and
mortgage insurance businesses. In addition, Genworth Holdings
relies on the financial resources of Genworth including the US
mortgage business to meet its obligations. As of June 30, 2021,
Genworth reported total assets of $100.6 billion and shareholders'
equity of $15.2 billion.


GIRARD & KEESE: Erika's Move to Remove Investigating Lawyer Stopped
-------------------------------------------------------------------
Ryan Nauman of Radar Online reports that Real Housewives of Beverly
Hills star Erika Jayne was scolded by a federal court judge who
questioned her motives in attempting to remove a lawyer
investigating her.

According to court documents obtained by Radar, the federal court
judge presiding over Jayne's husband Thomas Girardi's involuntary
Chapter 7 bankruptcy denied a motion brought by the reality star.

Girardi was forced into Chapter 7 bankruptcy earlier this year.
He's accused of owing tens of millions to various creditors.  His
former clients accuse the Bravo star of helping the once-respected
lawyer embezzle money to pay for their expensive lifestyle.

The court appointed a trustee to take control of Girardi's
finances. Now, the official is selling off assets to pay back
creditors and attempting to collect on money to the estate.

He believes Jayne received over $25 million from Girardi’s law
firm. The trustee sued Jayne for the return of the money. The
trustee who is dealing with a ton of creditors hitting him up asked
the court to hire a lawyer named Ronald Richards to focus on
Jayne.

The court signed off on the hiring and Richards got to work. After
he came onboard, Jayne started complaining that Richards had a
conflict of interest because he represented another creditor who
went after her husband.

She also accused him of harassing her online with nonstop tweets
about the case. She pleaded with the judge to remove Richards
immediately.

Jayne also demanded a gag order be put in place prohibiting the
lawyer from speaking about her publicly. In the newly filed court
document, the judge says he finds Jayne's motion "totally without
merit."

He trashes Jayne and questions her motives for trying to remove
Richards.

The order reads, "It appears to be nothing more than a blatant
attempt by Ms. Girardi to impede Mr. Richards' efforts on behalf of
the trustee to investigate allegedly fraudulent transfers of the
debtor's assets to Ms. Girardi and to prosecute an action against
her to recover those transfers for the benefit of the estate."

Further, the judge says Richards' tweets about Jayne did not
violate any ethical rules. As a result, the investigation into
Jayne will move forward full speed ahead.

Jayne denies she knew anything about her husband's finances. She
claims he left her in the dark. His creditors and victims feel
otherwise.

                     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


GREATBATCH LTD: Moody's Ups CFR to Ba3, Outlook Stable
------------------------------------------------------
Moody's Investors Service upgraded Greatbatch Ltd.'s ("Greatbatch",
a wholly-owned subsidiary of Integer Holdings Corporation)
Corporate Family Rating to Ba3 from B1, Probability of Default
Rating to Ba3-PD from B2-PD. Moody's also assigned Ba3 ratings on
its new senior secured debt facilities (revolver, term loan A and
term loan B). The company's Speculative Grade Liquidity rating was
upgraded to SGL-1 from SGL-2. The outlook is stable.

The upgrade of Greatbatch's ratings coincides with the company's
announcement of complete refinancing of its outstanding debt. As
part of the refinancing, Greatbatch will expand its revolver size
to $400 million and replace the existing term loans with new term
loans ($250 million term loan A and $350 million term loan B). The
company's upsized revolver and new term loan A will mature in 2026
and its new term loan B will mature in 2028.

The upgrade of CFR reflects the company's resilience through the
coronavirus pandemic and consistent reduction of net debt. Moody's
estimates that the company's debt/EBITDA was about 3.6 times at the
end of the second quarter of 2021 (before refinancing) and will
remain unchanged after the refinancing transaction. The upgrade of
SGL reflects improved liquidity due to an increase in revolver size
and significant extension of debt maturities (the company's
outstanding revolver and term loan debts were due in 2022). The
company expects to have access to approximately $320 million under
its new revolver at the close of the refinancing transaction. Based
on the terms of new financing, Moody's also revised its expected
family recovery rate and as a result upgraded the probability of
default rating to Ba3-PD, at par with the CFR.

Ratings upgraded:

Issuer: Greatbatch Ltd.

Corporate Family Rating to Ba3 from B1

Probability of Default Rating to Ba3-PD from at B2-PD

Speculative Grade Liquidity rating upgraded to SGL-1 from SGL-2

Outlook action:

Issuer: Greatbatch Ltd.

Outlook changed to stable from positive

Ratings assigned:

Proposed $400 million senior secured first lien revolving credit
facility expiring in 2026 at Ba3 (LGD4)

Proposed $250 million senior secured first lien term loan A due
2026 at Ba3 (LGD4)

Proposed $350 million senior secured first lien term loan B due
2028 at Ba3 (LGD4)

The following ratings will be withdrawn at the close of the
refinancing transaction:

$200 million senior secured first lien revolving credit facility
expiring in 2022 at B1 (LGD3)

$277 million senior secured first lien term loan A due 2022 at B1
(LGD3)

$563 million senior secured first lien term loan B due 2022 at B1
(LGD3)

RATINGS RATIONALE

Greatbatch's Ba3 CFR reflects its moderate scale, improving
leverage profile and high dependence on a small group of very large
customers. Moody's estimates that the company's debt/EBITDA was
about 3.6 times at the end of the second quarter of 2021 (before
refinancing). The company's revenue concentration risk (~50% of
fiscal 2020 revenues came from the top 3 customers) is partially
mitigated by the company's long-standing customer relationships and
solid customer retention rates.

The company's ratings benefit from its solid market position in the
highly fragmented medical device outsourcing sector and the
stickiness of its business relationships due to very high switching
costs. The rating also benefits from Moody's expectations the
company will reduce its financial leverage in the next 12-18 months
bringing down its debt/EBITDA in the low to mid three times range.

The company's SGL-1 Speculative Grade Liquidity rating reflects
Moody's expectations that the company will generate $90-$100
million of free cash flow in the next year. Along with internal
cash of approximately $31 million at the end of July 2, 2021,
Greatbatch will have ample cushion to cover mandatory debt
amortization of approximately $9.75 million.

ESG considerations are material to Greatbatch's credit profile.
Greatbatch's exposure to environmental risks is low, in line with
exposures of the medical products and devices industry. For
Greatbatch, the social risks include the company's exposure to
potential product safety litigation and recall and risks linked to
the fact that its manufacturing processes are subject to regulatory
oversight. The company's exposure to governance risk moderate,
reflecting its track record of consistent financial policy,
including an opportunistic tuck-in acquisition strategy.

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

The ratings could be upgraded if the company increases its scale
and diversity and enhances the technological sophistication of its
product portfolio. In addition, the company would need to sustain
its debt/EBITDA below 3.0 times and manage customer concentration
risk effectively.

The ratings could be downgraded if the company's earnings or
liquidity deteriorate or its financial policies become more
aggressive. A loss of key customer/contract(s) can also lead to a
rating downgrade. Quantitatively, ratings could be lowered if
debt/EBITDA is sustained above 4.0 times.

Headquartered in Plano, Texas, Integer Holdings Corporation (the
parent of Greatbatch Ltd.) performs medical device outsourcing and
contract manufacturing services, primarily for companies within the
medical device industry. The company provides technologies and
manufacturing contract services to medical device original
equipment manufacturers in cardiac, neuromodulation, vascular
markets. Revenues for the last twelve months were approximately
$1.1 billion.

The principal methodology used in these ratings was Medical Product
and Device Industry published in June 2017.


GRUPO AEROMEXICO: Gibson Dunn Represents Claimholders
-----------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Gibson, Dunn & Crutcher LLP submitted a verified
statement to disclose that it is representing the Ad Hoc Group of
Unsecured Claimholders in the Chapter 11 cases of Grupo Aeromexico,
S.A.B. de C.V., et al.

On or about July 2021, certain members of the Ad Hoc Group of
Unsecured Claimholders retained attorneys presently with Gibson,
Dunn & Crutcher LLP to represent them as counsel in connection with
the pending chapter 11 cases.  From time to time thereafter,
certain additional holders of unsecured claims have joined the Ad
Hoc Group of Unsecured Claimholders.

Gibson Dunn represents asserted against one or more of the
Debtors.

Gibson Dunn does not represent or purport to represent any other
entities in connection with the Debtors' chapter 11 cases. Gibson
Dunn does not represent the Ad Hoc Group of Unsecured Claimholders
as a "committee" and does not undertake to represent the interests
of, and is not a fiduciary for, any creditor, party in interest, or
other entity that has not signed a retention agreement with Gibson
Dunn. In addition, the Ad Hoc Group of Unsecured Claimholders does
not represent or purport to represent any other entities in
connection with the Debtors' chapter 11 cases.

Upon information and belief formed after due inquiry, Gibson Dunn
does not hold any disclosable economic interests in relation to the
Debtors.

As of Aug. 9, 2021, members of the Ad Hoc Group of Unsecured
Claimholders and their disclosable economic interests are:

                                           Unsecured Claims
                                           ----------------

Bank of America                             $50,000,000.00
National Association
Gateway Village #900
900 West Trade St.
NC1-026-05-41
Charlotte, NC 28202

Invictus Global Management                  $47,730,000.00
310 Comal Street Building A
Suite 229
Austin, TX 78702

Nut Tree Capital Management                 $150,000,000.00
55 Hudson Yards 22nd Floor
New York, NY 10001

P. Schoenfeld Asset Management              $29,300,000.00
1350 6th Avenue
21st Floor
New York, NY 10019

Strategic Value Partners                    $155,000,000.00
100 West Putnam Avenue
Greenwich, CT 06830

Counsel to the Ad Hoc Group of Unsecured Claimholders can be
reached at:

          GIBSON, DUNN & CRUTCHER LLP
          Scott J. Greenberg, Esq.
          Joshua K. Brody, Esq.
          Matthew J. Williams, Esq.
          200 Park Avenue
          New York, NY 10166
          Telephone: (212) 351-4000
          Facsimile: (212) 351-4035
          E-mail: sgreenberg@gibsondunn.com
                  jbrody@gibsondunn.com
                  mjwilliams@gibsondunn.com

A copy of the Rule 2019 filing is available at
https://bit.ly/3CLIPKg at no extra charge.

                    About Grupo Aeromexico

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

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

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

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


HB FULLER: Fitch Affirms 'BB' LT IDR & Alters Outlook to Positive
-----------------------------------------------------------------
Fitch Ratings has affirmed H.B. Fuller Company's Long-Term Issuer
Default Rating (IDR) at 'BB'. The Rating Outlook has been revised
to Positive from Stable.

Fitch has applied its updated recovery rating criteria, and has
upgraded H.B. Fuller's senior secured revolving credit facility and
term loan to 'BBB-'/'RR1' from 'BB+'/'RR1', and has affirmed the
senior unsecured notes at 'BB'/'RR4'.

The rating reflects the company's leading position in the global
adhesives market with a solution- and innovation-oriented product
portfolio resulting in relatively high customer switching costs and
stable EBITDA margins in the low-mid teens.

The Positive Outlook reflects the company's progress towards
meeting its net leverage target of 2.0x-3.0x. Fitch projects the
company can achieve this target by 2022, assuming the continued
maintenance of its current margin profile and further allocation of
capital towards debt repayment.

The ratings have been removed from Under Criteria Observation
(UCO), where they were placed following the publication of the
updated recovery rating criteria on April 9, 2021.

KEY RATING DRIVERS

Recovery Ratings Criteria Update: The issue and recovery ratings
for H.B. Fuller's debt are based on Fitch's rating grid for issuers
with 'BB' category IDRs. This grid reflects average recovery
characteristics of similar-ranking instruments. H.B. Fuller's
senior secured revolving credit facility and term loan are viewed
as Category 1 first lien, which translates into a two-notch uplift
from the 'BB' IDR to 'BBB-', and a recovery rating of 'RR1'.

More information on the updated Corporates Recovery Ratings and
Instrument Ratings Criteria is available at www.fitchratings.com

Progression Towards De-Leveraging Target: H.B. Fuller has made
substantial progress towards meeting its long-term net leverage
target of 2.0x-3.0x, driven by a combination of strong operational
performance through 1H21, and a demonstrated commitment to debt
repayment. After a resilient 2020 trough period, when Operating
EBITDA margins were maintained in the 13% range, and the company
generated over $200 million in FCF, inflationary input cost
pressures and strong end market demand in 1H21 have supported
further price increases and market share gains. This has resulted
in yoy growth in 1H21 revenues and Operating EBITDA of 18% and 23%,
respectively, and LTM 1H21 Total Debt with Equity Credit/ Operating
EBITDA of 4.2x.

The company's capital allocation policy has also remained sound,
repaying roughly $700 million in debt since its leveraging
acquisition of Royal Adhesives and Sealants in 2017. The company
has committed to deliver an additional $200 million toward gross
debt reduction in 2021. Fitch forecasts metrics will trend to
around 3.0x by 2022, as the company continues to balance capital
allocation in a credit conscious manner, moving towards its
long-term strategic and financial targets.

Leader in Fragmented Adhesives Market: H.B. Fuller is the number
one or two player in most of its markets, and the second largest
player, behind Henkel, in the fragmented $50 billion adhesives
market, where the top five players account for less than 35% of the
market. Benefiting from its size, scale and diversification, the
company has a R&D-linked competitive advantage versus global
competitors that more firmly places it into its regional and global
customers' value chains.

Fitch views long-term trends such as the need for light-weighting
and energy efficiency, sustainable packaging, digitization and
healthcare related supplies as favorable growth drivers for the
company. The 2017 acquisition of Royal Adhesives and Sealants
further strengthened H.B. Fuller's ability to address these
high-value demand applications across the Engineering Adhesives
segment.

Stable, Mid-Teens Margin Profile: H.B. Fuller purchases numerous
raw materials, with the top 25 materials making up less than 20% of
the annual spend. Furthermore, the company categorizes around 87%
of the sourced raw materials as 'Specialty Raw', which flow through
to downstream applications that generate resilient margins, given
the low-cost (e.g., less than 1% of customer COGS), but critical
aspects of the company's products for its customers.

This diversification and specialization of offerings combined with
pass through clauses with customers, helps mitigate cost risk and
provides the company relatively resilient, through-the-cycle
margins in the mid-teens. In the near term, Fitch forecasts EBITDA
margins will remain around 14%, given the company's demonstrated
ability to offset rising raw material costs through price increases
and assuming realized cost savings from the Operations & Supply
Chain project initiated in 2020. EBITDA margins are projected to
trend higher thereafter as the company continues to move downstream
in its product offerings.

Positive FCF Generation Forecast: H.B. Fuller consistently
generates positive FCF given its relatively stable EBITDA margins,
limited working capital risk, and low capital intensity with
capital spending averaging around 2%-2.5% of sales. Free cash flow
margin has averaged around 5% dating back to 2016, and Fitch
projects the company to continue to generate $150 million-$200
million of annual free cash flow leading to free cash flow margins
of around 5%-6% through the forecast.

Fitch believes free cash flow will be mainly allocated towards
gross debt reduction in the near term, as well as a continued focus
on measured shareholder returns and strategic bolt-on
acquisitions.

Acquisitive Nature to Persist: Given the fragmented nature of the
adhesives industry, Fitch believes H.B. Fuller will continue to
seek bolt-on acquisitions to further build out its Engineering
Adhesives segment into new products, regions or technical
capabilities. The company is able to fund these typically small
acquisitions with free cash flow generation, but management has
shown a willingness to stretch leverage above its targets in order
to execute value-added M&A. The Royal Adhesives and Sealants
acquisition is an example.

However, free cash flow has since focused on reducing debt towards
a leverage profile of around 3.5x-4.0x, and Fitch would expect the
company to similarly allocate capital following any future
leveraging transaction.

DERIVATION SUMMARY

H.B. Fuller is larger than equally rated peer Ingevity Corp.
(BB/Stable) and similarly sized to W. R. Grace & Co. (BB+/Negative
Watch). While the company maintains relatively lower EBITDA margins
typically in the mid-teens compared to Ingevity and Grace, which
typically see margins in the mid-high twenties, H.B. Fuller has
exhibited less variability compared to Ingevity. Fitch expects
margins to continue to expand as the company focuses on downstream
growth within Engineering Adhesives.

Additionally, the company consistently generates FCF margins at
around 5%-6%, given its typically low maintenance capex
requirements of around 2% of revenues, versus around 5%-6% of
revenue for Ingevity and Grace. Like its peers, H.B. Fuller is a
leader in a specialized industry with a similar appetite for debt
funded M&A and operates with total debt to EBITDA around 3.0x-4.0x
over the forecasted period versus Grace, which is generally at 3.5x
and Ingevity at around 3.0x.

Fitch projects Fuller to generate consistent free cash flow margins
in the mid-single digits over the forecasted period, given low
maintenance capex requirements and relatively stable earnings,
which is consistent with Fitch's views on the recovery over the
forecast period for Grace and Ingevity.

KEY ASSUMPTIONS

-- Low double-digit revenue growth in 2021 with sequential
    increases in 2022 and 2023 above 2019 levels and GDP level
    organic growth thereafter;

-- EBITDA margins trending to 15% as the company offsets rising
    costs with further price increases, continues to move
    downstream, and realizes cost savings resulting from the
    Operations & Supply Chain project;

-- Capex at 2.5% of sales;

-- Prioritization of gross debt reduction with free cash flow
    with continued measured shareholder returns;

-- Continued execution of strategic acquisitions with the
    assumption that management may temporarily increase leverage.

RATING SENSITIVITIES

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

-- Sustained adherence to the company's long-term financial
    policy coupled with continued cash generation and earnings
    stability, leading to Total Debt with Equity Credit/Operating
    EBITDA durably below 3.5x;

-- Continued trend toward higher EBITDA margins that demonstrates
    successful execution of the shift towards higher value-add
    products.

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

-- Loss of leading market positions leading to Total Debt with
    Equity Credit/Operating EBITDA durably above 4.5x;

-- Reduced ability to pass through costs to customers, leading to
    less stable margins and heightened cash flow risk;

-- More aggressive than anticipated M&A activity, including
    transformative, credit-unfriendly acquisitions, or shareholder
    return strategy otherwise incompatible with management's
    articulated capital deployment policy.

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

Strong Liquidity: As of May 29, 2021, the company had approximately
$70 million of cash and cash equivalents with full availability on
the company's $400 million revolving credit facility due 2024.
Additionally, Fitch anticipates solid free cash flow generation of
around $150 to $200 million annually through the forecast, which
Fitch believes will largely go towards continued debt reduction
over the near term.

The company has no near-term maturities, with the $400 million
revolving credit facility having been extended to 2024 in October
2020. Fitch assumes the company will successfully refinance the
term loan maturing in 2024 prior to its maturity.

ISSUER PROFILE

H.B. Fuller Company is a global formulator, manufacturer and
marketer of adhesives and other specialty chemical products. As of
the beginning of fiscal 2020, the company realigned its operating
segment structure and now has three reportable segments: Hygiene,
Health and Consumable Adhesives, Engineering Adhesives and
Construction Adhesives.

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.


HIGHTOWER HOLDING: Moody's Affirms B3 CFR, Outlook Stable
---------------------------------------------------------
Moody's Investors Service affirmed Hightower Holding, LLC's B3
corporate family rating, B2 senior secured credit bank facility
rating, and Caa2 senior unsecured notes rating. Hightower's outlook
is stable.

Moody's said the rating action was in consideration of Hightower's
plan to draw on its $150 million first lien delayed draw term loan
and issue a $115 million fungible add-on to its existing term loan
B due April 2028.

Affirmations:

Issuer: Hightower Holding, LLC

Corporate Family Rating, B3 Affirmed

Senior Secured Bank Credit Facility, B2 Affirmed

Senior Unsecured Notes, Caa2 Affirmed

Outlook Actions:

Issuer: Hightower Holding, LLC

Outlook, Remains Stable

RATINGS RATIONALE

Moody's said the ratings' affirmation reflects Hightower's
sustained growth in client assets, that reached $110 billion at the
end of 2020, and strong revenue growth trajectory, offset by
elevated debt leverage which weakens its financial profile. The
ratings' affirmation also reflects the credit benefits associated
with Hightower's stable and recurring revenue model, tempered by
partial reliance on the performance of broad financial markets.
Moody's expects its measure of Hightower's debt leverage to be
around 8.4x at the end of 2021 (including the debt-like treatment
of Hightower's cash portion of contingent earnout liabilities and
lease liabilities).

Moody's said Hightower has grown through the continued execution of
a successful strategy of acquiring Registered Investment Advisors
(RIAs). Moody's views the structure of such deals to be credit
positive because of the alignment of interests between Hightower
and the financial advisor partners. However, Hightower's planned
debt increase has arisen shortly after the firm's April 2021 $900
million debt raise ($600 million first lien term loan and $300
million senior unsecured notes), and will result in a total debt
balance of almost $1.2 billion. The increased debt will delay the
firm's de-leveraging path, a credit negative, but offsetting this
is the firm's continued strong organic growth which complements its
aggressive acquisition strategy and supports its ability to service
its growing debt load, said Moody's.

Hightower plans to deploy into acquisitions the net proceeds of the
$150 million delayed draw term loan and $115 million add-on to the
term loan, and it expects client assets to reach $135 billion
following these acquisitions.

Hightower's stable outlook reflects Moody's expectation that the
firm's strong growth trajectory, fueled by M&A transactions and
organic growth, and a favorable environment for asset gathering,
helps offset the firm's very high debt leverage.

The affirmation of Hightower's B2-rated senior secured first lien
term loan, delayed draw term loan and revolving credit facility is
based on the application of Moody's Loss Given Default for
Speculative-Grade Companies methodology and model, and is
reflective of these instruments' priority ranking in Hightower's
capital structure, ahead of Hightower's Caa2-rated $300 million in
senior unsecured notes.

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

Factors that could lead to an upgrade include the following: 1) An
improvement in profitability and debt reduction that results in
Moody's-adjusted debt leverage being below 6.5x on a sustained
basis; and 2) Increasing scale and evidence of strong organic
revenue growth through asset gathering at existing partners
resulting in stronger profitability while maintaining positive
operating leverage

Factors that could lead to a downgrade include: 1) Maintaining debt
leverage above 8.0x on a sustained basis because of increasing debt
to fund acquisitions; 2) Revenue deterioration due to a slowdown in
organic growth, rising competition and fee compression,
underperformance or declines in broad financial markets resulting
in lower levels of client assets; and 3) Deterioration in the
firm's free cash flow generation as a result of weaker performance
or integration issues following an acquisition transaction.

The principal methodology used in these ratings was Securities
Industry Service Providers Methodology published in November 2019.


HIGHTOWER HOLDING: S&P Alters Outlook to Stable, Affirms 'B-' ICR
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Hightower Holding LLC. The outlook is stable. S&P also affirmed the
'B-' issue rating on its first lien term loan and first lien
delayed draw term loan, and the 'CCC' rating on its senior
unsecured notes. The first-lien term loan and first-lien delayed
draw term loan recovery rating remains '4' (45%), indicating an
average recovery in the event of a default. The senior unsecured
notes recovery rating remains '6' (0%), indicating a negligible
recovery in the event of default.

Hightower is growing rapidly through acquisitions and, to a lesser
extent, organically. S&P said, "In addition to the proposed $115
million add-on to the first lien term loan, we expect the company
to draw the full amount on its $150 million delayed draw term loan
over the next several months to fund recently signed and agreed
upon acquisitions of registered investment advisors. While we
expect gross debt to increase to about $1.156 billion by year-end
2021, we expect earnings growth to support proforma leverage and
coverage of around 8x-9.5x and 2x-2.5x, respectively. Despite the
increase in gross debt, key credit metrics remain largely in line
with our prior expectations."

Earnings from affiliates reached $49 million for the last 12 months
ended June 30, 2021, compared with $31.7 million in the full year
2020. S&P said, "We expect additional earnings growth of at least
$50 million associated with the proforma earnings of recently
closed and agreed upon acquisitions. Supporting these growth
assumptions is the company's historically strong client retention
rate and the resiliency of the RIA model in times of market
volatility, which we assume will continue under our base case. Cash
flows from operations have also grown significantly, reaching about
$46.3 million in the first half of 2021 compared with $13.5 million
in the full year of 2020, although this growth has been largely
debt-financed."

S&P said, "Despite our expectation for leverage and coverage to
remain within expectations, there are risks associated with the
elevated gross debt level, and what we consider to be an aggressive
inorganic growth strategy with a relatively short record. Given the
small earnings base, market volatility could lead to financial
performance volatility. We would also expect prolonged market
drawdowns to weaken already elevated credit metrics. Additionally,
we believe Hightower will remain highly acquisitive and utilize
debt to fund prospective targets. This is the second debt issuance
within six months, and in our view, the upper boundary of
management's leverage tolerances haven't been reached. Any further
increase in gross debt, without associated tangible EBITDA growth,
may lead to a negative rating outcome.

"The stable outlook reflects our expectation that Hightower's
acquisitions meet its EBITDA forecast, such that leverage and
interest coverage meet our base case forecast of below 10x and
above 1.5x on a weighted average basis, respectively, while the
company continues to grow both organically and through mergers and
acquisitions (M&A)."

Downside scenario

S&P could lower the ratings if Hightower's acquisitions
underperform the EBITDA growth assumptions in its base case such
that interest coverage approaches 1.5x, if liquidity becomes less
than adequate, or if Hightower's cushion against its financial
covenants erodes substantially.

Upside scenario

S&P does not anticipate raising the ratings over the next 12
months. Over the longer term, S&P could raise the ratings if
Hightower maintains leverage comfortably below 5.0x, which it
considers unlikely, while continuing to grow organically.



HILLTOP AT DIA: Pan-Am Buying 134-Acre Aurora Land for $20M
-----------------------------------------------------------
Hilltop at DIA, LLC, asks the U.S. Bankruptcy Court for the
District of Colorado to authorize the private sale of its 134 acres
of development land located in Adams County, City of Aurora,
Colorado, legally described in the executed Real Estate Purchase
and Sale Agreement, to Pan-Am Equities, Inc. for $20 million.

The Property owned by the Debtor is bordered on the north by 64th
St. and on the east by Picadilly St.  The entire parcel is zoned
for residential and industrial use and lies in a Qualified
Opportunity Zone.  The Debtor acquired the Property in 2018 for
$2.1 million, financing the purchase with a first mortgage loan.  

The Debtor acquired the Property with the intention of developing
it and had commenced the engineering and other work needed to
develop and obtain approval of a Framework Development Plan even
before the purchase in February 2018.  In June 2018, it refinanced
the purchase money loan and obtained funding for further
development with a loan from Aurora Lending LLC for $4.64 million
secured by a first priority deed of trust on the Property.   

In October 2019, Avelon NP acquired the Aurora Loan.  Avelon NP
commenced foreclosure through the Public Trustee of Adams County,
Colorado and obtained appointment of a receiver for the Property
from the Adams County District Court in January 2020.  Avelon NP
obtained an order authorizing sale by the Public Trustee on June 9,
2021.  The Debtor filed its petition on June 23, 2021, to prevent
the foreclosure.  

The Debtor believes those parties claiming a lien encumbering the
Property are as follows:

      a. Avelon NP, the assignee of Aurora Lending, pursuant to a
deed of trust encumbering the Property;

      b. Dewberry Engineers Inc., d/b/a Dewberry J3, pursuant to a
mechanic's lien encumbering the Property recorded Dec. 3, 2019, and
partially released Dec. 10, 2019;

      c. Westside Property Investment Co., Inc. ("Westside"), an
affiliate of Avelon NP, as assignee of PCS Group Inc., the holder
of a mechanic's lien claim (Statement of Lien) encumbering the
Property recorded Jan. 10, 2020; and

      d. Douglas Dahlstrom and Douglas Dahlstrom Trust and
Ponderosa Construction, Inc. as the holders of a (i) judgment lien
(based on a Credit Agreement, and Consolidation, Modification
Extension Credit Agreement on the Property) recorded Feb. 19, 2021,
and (ii) a judgment lien recorded Feb. 19, 2021.

The Debtor has no obligations other than administrative expenses
entitled to priority over general unsecured claims.  Its
administrative expenses are not expected to exceed $300,000.  It
has scheduled general unsecured claims in the amount of
approximately $2.9 million.  

Shortly after filing its petition, the Debtor received an offer
from representatives of Banyon Interests, LLC to purchase the
Property.  After arms-length negotiations over a four-week period,
the Debtor and Pan-Am Equities, Inc., a New York corporation, a
company related to Banyon Interests, LLC, entered into the PSA.

Pursuant to L.B. R. 6004-1, the material terms of the PSA and the
proposed order approving the sale are as follows:

      a. The purchase price for the Property is $20 million,
payable in full upon Closing and subject to certain adjustments for
real property taxes, closing costs and escrow fees.  

      b. The Property is being sold pursuant to Section 363(b) and
(f)(3) and (5) of the Bankruptcy Code "as is, where is" without
warranty of any kind except as provided in the PSA, and free and
clear of all liens, claims, interests and encumbrances except for
those interests described in Section 4 of the PSA.  All claims
secured by the Property to the extent not paid at closing will
attach to the sale proceeds.

      c. The PSA does not contemplate an auction.  As described in
the Motion, since the Purchase Price substantially exceeds the
amount of all debt (secured, unsecured, and chapter 11
administrative expenses) of the estate, and the purchase price is
acceptable to 100% of the equity interests in the Debtor, a public
sale is not necessary.

      d. The Closing of the transaction must occur no later than 30
days after entry of the Sale Order, unless extended by the Debtor.


      e. The PSA requires an earnest money deposit of $2.5 million:
$2 million to be paid within three days of the execution of the
PSA, and an additional $500,000 to be paid within two business days
of the expiration of the due diligence period.  

      f. As requested later in the Motion, the proposed Sale Order
authorizes, but does not require, Debtor to pay any claim secured
by an interest in the Property.  Such payment will prevent the
further postpetition taxes (none are anticipated).

      g. As requested later in the Motion (and as per the PSA), the
proposed Sale Order contains a provision that Buyer is a good faith
purchaser under Section 363(m) of the Bankruptcy Code.

      h. The PSA provides that if Buyer terminates the PSA as a
result of the Debtor's material breach, the Debtor will reimburse
the Buyer for certain expenses up to $25,000.  In addition, if the
PSA is terminated because the Debtor seeks approval of a sale to a
third party, the Debtor will pay the Buyer 1.5% of the Purchase
Price, and if such termination occurs prior to entry of the Sale
Order approving the sale pursuant to the PSA, the Debtor will file
a motion to approve the foregoing as an actual and necessary
expense of the bankruptcy estate.

      i. As requested in the Motion, the proposed Sale Order
provides that it will become effective immediately upon entry
pursuant to Bankruptcy Rule 6004(h), rather than being stayed for
14 days after the entry.

      j. The proposed Sale Order provides that holders of Secured
Claims will provide releases of liens, mortgages or encumbrances on
of before the closing of the sale.

The PSA contains more detailed terms and conditions that are beyond
the summary provided for in the Motion.  Interested parties are
urged to read the PSA for a complete description of the terms of
the sale.  

The Property is being sold subject to:

      (a) the lien of real estate taxes or assessments not yet due
and payable; and

      (b) easements, rights-of-way, servitudes, permits, and
surface leases as set forth in Schedule B-2 to the title
commitment.

The following parties may have Secured Claims:

      a. Avelon NP pursuant to a deed of trust described above.
Avelon NP claims that it is owed between $8.5 million and $9
million. The Debtor disputes a portion of this amount.

      b. Dewberry pursuant to a mechanic's lien described above in
the current principal amount of $393,252.51, plus interest and
fees.  The Debtor disputes a portion of this amount.

      c. Westside pursuant to a mechanic's lien claim in the
principal amount of $29,661.25 plus interest.  

      d. The Dahlstrom Parties pursuant to a (i) judgment lien in
the principal amount of $306,582.38 plus interest, and (ii) a
judgment lien in the principal amount of $1,044.50 plus interest.

The Debtor seeks authority to pay some or all the Secured Claims
amounts at the closing from the sale proceeds.  Such payment will
reduce the further accrual of interest at least 18% per annum on
the lien of Avelon NP, as well as interest on other claims.  The
Debtor seeks to pay such creditors (or to direct the Title Company
to pay such creditors) within three business days of Closing.
Since the sale proceeds will far exceed the total of the Secured
Claims, the Debtor's exercise of discretion regarding payment of
Secured Claims affects only its sole member Sebastian Partners, LLC
and is therefore appropriate under the circumstances.  

To the extent a Secured Claim is not fully paid, the disputed and
unpaid amount thereof will attach to the proceeds of sale in the
same extent, validity and priority as it attached to the Property.
Secured Claim holders will be required to provide Debtor with
documents releasing their interests in the Property at closing.    
  

Finally, the PSA requires that the Sale Order provide that the stay
under Fed. R. Bankr. P. 6004(h) not apply.  Among other things,
interest is accruing on the liens encumbering the Property at
potentially more than $160,000 per month.  Thus, a 14-day delay in
closing the sale would result in more than $75,000 in potential
additional interest.  Moreover, because the sale will result in
proceeds far exceeding all claims against the estate, it is highly
unlikely any party will have standing to prosecute an appeal in any
event.  The Debtor therefore requests that the order approving the
Motion become effective immediately upon entry pursuant to
Bankruptcy Rule 6004(h).

A copy of the Agreement is available at
https://tinyurl.com/zvb3e7np from PacerMonitor.com free of charge.

The Purchaser:

           PAN-AM EQUITIES, INC.
           18 East 50th Street
           New York, NY 10022
           Attn: Scott E. Solomon
           E-mail: SSolomon@Pan-Am.co

With a simultaneous copy of any notice to:

           BANYAN INTERESTS LLC
           228 Main Street, Suite 10
           Los Angeles, CA 90291
           Attn: Ben Brosseau
           E-mail: bbrosseau@banyanres.com

                     - and -

           NOVOS LAW LLP
           1801 Century Park East, 16th Floor
           Los Angeles, CA  90067
           Attn:  Jordan Fishman
           E-mail:  jfishman@novoslawllp.com

                       About Hilltop at DIA

Englewood, Colo.-based Hilltop at DIA, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
21-13309) on June 23, 2021. The petition was signed by Michael D.
Graham of Sebastian Partners, LLC, manager of the Debtor.  In the
petition, the Debtor disclosed assets of between $10 million and
$50  million and liabilities of the same range.  Judge Thomas B.
Mcnamara oversees the case.  Onsager Fletcher Johnson, LLC is the
Debtor's legal counsel.  



HOLOGENIX LLC: Taps Theodora Oringher as Special Litigation Counsel
-------------------------------------------------------------------
Hologenix, LLC seeks authority from the U.S. Bankruptcy Court for
the Central District of California to hire Theodora Oringher, PC as
its special litigation counsel.

The Debtor needs legal assistance to respond to third party
subpoenas in connection with the lawsuit entitled Multiple Energy
Technologies, LLC v. Under Armour, Inc. (Case No. 2:20-cv-00664),
which is pending in the U.S. District Court, Western District of
Pennsylvania.

The firm's hourly rates are as follows:

     Senior Attorneys                  $450 - $595 per hour
     Associates                            $350 per hour
     Practice Technology professionals     $175 per hour
     Paralegals                            $175 per hour

Scott Behrendt, Esq., a senior attorney at Theodora Oringher,
disclosed in a court filing that his firm does not represent or
hold any interest adverse to the Debtor and its estate.

The firm can be reached through:

     Scott K. Behrendt, Esq.
     Theodora Oringher PC
     1840 Century Park East, Suite
     Los Angeles, CA 90067-2199
     Phone: 310-557-2009
     Fax: 310-551-0283

                         About Hologenix LLC

Pacific Palisades, Calif.-based Hologenix, LLC is the inventor of
Celliant technology (https://celliant.com), a patented,
clinically-tested textile technology that harnesses and recycles
the body's natural energy.

Hologenix filed its voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 20-13849) on April 22,
2020. In the petition signed by Seth Casden, chief executive
officer, the Debtor listed $1 million to $10 million in both assets
and liabilities.  

Judge Barry Russell oversees the case.  

Levene, Neale, Bender, Yoo & Brill L.L.P. represents the Debtor as
bankruptcy counsel.  The Debtor hired Tucker Ellis LLP, Troutman
Sanders LLP, Dermer Behrendt, Theodora Oringher PC, and Buchalter
as special counsel.  The Colony Group, LLC serves as the Debtor's
accountant.


HOUSEHOLD OF FAITH: Seeks to Tap Pope Law Firm as Legal Counsel
---------------------------------------------------------------
Household of Faith Community Church seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire The
Pope Law Firm to serve as legal counsel in its Chapter 11 case.

The firm's services will include:

     a) advising the Debtor with respect to its duties under the
Bankruptcy Code;

     b) preparing and filing legal papers;

     c) representing the Debtor at the first meeting of creditors
and providing other services required during the course of its
bankruptcy proceedings;

     d) representing the Debtor in all proceedings before the
bankruptcy court and in any other judicial or administrative
proceeding where the rights of the Debtor may be litigated or
otherwise affected;

     e) preparing a Chapter 11 plan of reorganization; and

     f) assisting the Debtor in matters relating to or arising out
of its bankruptcy case.

The firm's services will be provided mainly by James Pope, Esq.,
who will be paid at the rate of $400 per hour.  In addition, the
Debtor will reimburse the firm for work-related expenses incurred.

James Pope, Esq., at The Pope Law Firm, disclosed in court filings
that he is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

The attorney can be reached at:
   
     James Q. Pope, Esq.
     The Pope Law Firm
     5151 Katy Freeway 306
     Houston, TX 77007
     Telephone: (713) 449-4481
     Email: jamesp@thepopelawfirm.com

             About Household of Faith Community Church

Household of Faith Community Church filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Texas Case No. 21-32288) on July 6, 2021, listing as much as $1
million in both assets and liabilities.  Judge Jeffrey P. Norman
oversees the case.  James Q. Pope, Esq., at The Pope Law Firm,
represents the Debtor as legal counsel.


HOVNANIAN ENTERPRISES: Moody's Hikes CFR to Caa1, Outlook Positive
------------------------------------------------------------------
Moody's Investors Service upgraded Hovnanian Enterprises, Inc.'s
Corporate Family Rating to Caa1 from Caa2 and Probability of
Default Rating to Caa1-PD from Caa2-PD. The ratings on K. Hovnanian
Enterprises, Inc.' 1.125 lien and 1.25 lien senior secured notes
due 2026 were affirmed at Caa1 and the ratings on its senior
unsecured notes and senior unsecured term loans were affirmed at
Caa3. The rating on Hovnanian's preferred stock was affirmed at Ca.
The SGL-3 Speculative Grade Liquidity Rating is maintained. The
outlook was changed to positive from stable.

The Corporate Family Rating upgrade to Caa1 reflects the reduced
risk of restructuring activity given the improvement in Hovnanian's
operating and financial performance and the extension of the
company's debt maturity profile given the recent debt redemptions.
Operating improvements include growth in revenue toward $2.5
billion, increase in gross margin above 17% and homebuilding
interest coverage toward 1.5x. Hovnanian's recent voluntary
makewhole repayments of its senior secured notes due 2022 and 2024
with cash are positive credit considerations. Additionally, the
company's reversal of deferred tax valuation allowance, reflecting
the achievement of profitability on a net income basis, has
resulted in a significant improvement in its total homebuilding
debt to capitalization ratio to 95% from 137% and a positive
tangible net worth balance in fiscal Q2 ending April 30, 2021.

The positive outlook reflects Moody's expectations that over the
next 12 to 18 months Hovnanian will continue to generate top line
growth and improve credit metrics as the company benefits from
strong tailwinds in the homebuilding sector, and focus on
deleveraging and strengthening of its balance sheet.

The following rating actions were taken:

Upgrades:

Issuer: Hovnanian Enterprises, Inc.

Corporate Family Rating, Upgraded to Caa1 from Caa2

Probability of Default Rating, Upgraded to Caa1-PD from Caa2-PD

Affirmations:

Issuer: Hovnanian Enterprises, Inc.

Pref. Stock Preferred Stock, Affirmed Ca (LGD6)

Issuer: K. Hovnanian Enterprises, Inc.

Gtd. Senior Secured Notes, Affirmed Caa1 (LGD3)

Gtd. Term Loan, Affirmed Caa3 (LGD6 from LGD5)

Gtd. Senior Notes, Affirmed Caa3 (LGD6 from LGD5)

Outlook Actions:

Issuer: Hovnanian Enterprises, Inc.

Outlook, Changed To Positive From Stable

Issuer: K. Hovnanian Enterprises, Inc.

Outlook, Changed To Positive From Stable

RATINGS RATIONALE

Hovnanian's Caa1 Corporate Family Rating reflects: 1) the company's
highly leveraged capital structure with homebuilding debt to
capitalization ratio of about 95%; 2) relatively weak homebuilding
EBIT to interest coverage of about 1.5x; 3) governance
considerations, including aggressive financial policies and a
history of debt restructuring and distressed exchange transactions;
and 4) exposure to litigation and regulatory risks.

However, the credit profile is supported by: 1) strong new order
bookings and a robust backlog position that will contribute to
continued solid revenue growth; 2) geographic diversification
across 14 states and 23 homebuilding markets and $2.5 billion in
revenue scale; 3) Moody's expectation of adequate liquidity with
lack of debt maturities in the next 4.5 years; 4) an option-focused
land strategy with about 65% of total lots optioned on average and
good inventory turns; and 5) Moody's expectation of solid
underlying fundamentals for the homebuilding industry, supported by
low interest rates, constrained inventories of homes, and favorable
demographic trends.

The Caa1 rating on the company's 1.125 lien and 1.25 lien senior
secured notes reflects these notes' priority position in the
capital structure compared to notes secured by further liens and
unsecured debt. The Caa3 rating on unsecured notes and term loans
reflects the loss absorption provided by these instruments in a
default scenario.

The SGL-3 Speculative Grade Liquidity Rating reflects Moody's
expectation that Hovnanian will maintain adequate liquidity over
the next 12 to 15 months. Liquidity is supported by the lack of
debt maturities until 2026 with the exception of $125 million
revolver which expires in 2023, under which no borrowings are
drawn; absence of financial maintenance covenants; cash balances
and Moody's expectation of modest positive cash flow.

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

The ratings could be upgraded if the company continues to improve
its operating performance and gross margin, simplifies its capital
structure with homebuilding debt to book capitalization
consistently declining and trending toward 70%, while EBIT to
interest coverage is sustained above 1.0x, and liquidity remains
adequate.

The rating could be downgraded if the risk of debt restructuring
increases, the company's debt leverage rises, or liquidity profile
deteriorates.

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

Hovnanian Enterprises, Inc., established in 1959 and headquartered
in Matawan, New Jersey, designs, constructs and markets single
family detached homes and attached condominium apartments and
townhouses. The company operates in 23 markets in 14 states. In the
LTM period ended April 30, 2021, Hovnanian generated $2.5 billion
in homebuilding revenue.


INTEGER HOLDINGS: S&P Upgrades ICR to 'BB-' on Deleveraging
-----------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Integer
Holdings Corp. to 'BB-' from 'B+' and its issue-level rating on its
senior secured debt to 'BB-' from 'B+'. At the same time, S&P
assigned its 'BB-' issue-level rating and '3' recovery rating to
the proposed term loans and $400 million revolver.

S&P said, "The stable outlook reflects our expectation that
Integer's revenue will gradually recover from the effects of the
pandemic and begin expanding this year. The outlook also
incorporates our belief that the company will sustain leverage of
3.5x or below in the coming years despite a moderate level of
business development activity.

"We expect the headwinds from the COVID-19 pandemic to dissipate
gradually over 2021, which will enable Integer to achieve a more
normalized operating performance. The company's financial results
for the first half of 2021 indicate that its demand has continued
to recover from the pandemic-related decline in mid-2020. Integer's
second-quarter revenue increased sequentially to $312 million, from
a trough of $236 million in the third quarter of 2020.

"We expect Integer's performance to continue to gradually improve
over the coming quarters because we believe its longer-term growth
trends are aligned with those of the overall medical devices
industry, which we forecast will expand by the mid-single digit
percent area annually. The company's updated guidance for 2021
includes an improvement in its sales to over $1.2 billion, which
compares with management's initial expectation for sales of $1.16
billion-$1.20 billion.

"We also believe the improvement in Integer's operating efficiency,
supported by its increasing production volumes and focus on lean
manufacturing in recent years, will enable it to support an S&P
Global Ratings-adjusted EBITDA margin of at least 20% despite the
moderate inflationary pressures.

"We project the company's revenue and EBITDA in the coming years
will enable it to support leverage metrics that we view as
consistent with a 'BB-' rating.

"The company continues to reduce its debt and we project its
leverage will improve below 3.5x by the end of 2021. Despite the
COVID-19-related hurdles, Integer paid down $87.5 million of debt
during 2020 and an additional $64.75 million in the first half of
2021. Absent material merger and acquisition (M&A) activity, we
believe that the company will continue to use some of its free cash
flow for debt reduction. The company's usage of supplier financing
(about $73 million as of the end of 2020, which we include in our
adjusted debt measure) only partially offset the repayment of its
term loan balances.

"We believe Integer will remain focused on completing tuck-in
acquisitions and developing additional capabilities to support its
future growth. Under our base case, we assume Integer's annual M&A
spending will remain limited by its leverage target. While we
project that the company leverage may occasionally increase above
3.5x following acquisitions, we expect it to reduce its leverage to
3.5x in the following four to six quarters given its solid cash
flow generation.

"The proposed refinancing is consistent with the company's
financial policy and we have high confidence in its execution.
Integer announced its proposed refinancing, which includes
establishing a $400 million revolver, a $250 million term loan A
due 2026, and a $350 million term loan B due 2028 (all senior
secured and pari passu with each other). The company will use the
proceeds from these instruments to refinance its existing debt due
October 2022. Therefore, we believe the refinancing will be
leverage neutral. We also anticipate that the recovery in the
company's performance over the first half of 2021 will support its
successful execution of the transaction.

"The stable outlook on Integer reflects our expectation that its
revenue will gradually recover from the effects of the pandemic and
start expanding this year. The outlook also incorporates our belief
that the company will sustain leverage of 3.5x or below in the
coming years despite a moderate level of business development
activity."

S&P could downgrade Integer if:

-- There is an increased risk that its operating performance will
deteriorate relative to our base case assumptions in 2021 and cause
its leverage to rise materially above 3.5x for an extended period
with limited prospects for an improvement. This could occur due to
stronger-than-expected COVID-19-related headwinds or the unexpected
loss of a significant customer; or

-- The company's financial policy is more aggressive than we
expect and it prioritizes acquisitions that cause it to sustain
leverage of materially above 3.5x for a prolonged period.

Although unlikely, S&P could raise its rating on Integer to 'BB' in
the next two years if:

-- It commits to sustain leverage in the mid-2x range (despite
moderate business development activity) and its free operating cash
flow (FOCF) to debt remains at 20% or above; and

-- The company substantially expands its business offerings and
diversifies its customer base while maintaining leverage of less
than 3.5x.



ISLAND VIEW: Trustee Taps Valbridge Property as Appraiser
---------------------------------------------------------
Kevin O'Halloran, the Chapter 11 trustee appointed in Island View
Crossing II, L.P.'s bankruptcy case, received approval from the
U.S. Bankruptcy Court for the Eastern District of Pennsylvania to
hire Valbridge Property Advisors to conduct an appraisal of its
property at 1600 Radcliffe St., Bristol Borough, Pa.

The firm has agreed to prepare an appraisal report for a fixed fee
of $15,000 and provide additional services on an hourly fee basis
as follows:

     Reaves C. Lukens, Jr.     $425 per hour
     Reaves C. Lukens, III     $350 per hour
     Richard F. Wolf           $350 per hour
     Richard A. Hideck         $250 per hour
     David Koczirka            $175 per hour
     Licensed Appraisers       $125 per hour
     Assistant/Admin           $50-$100 per hour

Richard Wolf, MAI, a managing director at Valbridge Property
Advisor, 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:

     Richard F. Wolf, CRE
     Valbridge Property Advisors
     150 S. Warner Road, Suite 440
     King of Prussia, PA 19406
     Phone: (215) 545-1900
     Fax: (215) 545-8548
     Email: rwolf@valbridge.com

                   About Island View Crossing II

Island View Crossing II, L.P., Calnshire Estates, LLC and Steeple
Run, LP filed their respective Chapter 11 petitions (Bankr. E.D.
Pa. Case Nos. 17-14454, 17-14457 and 17-14458, respectively) on
June 30, 2017.

Island View, Calnshire Estates, and Steeple Run are affiliates of
One State Street Associates which filed a voluntary petition on
June 21, 2017 (Bankr. E.D. Pa. Case No. 17-14291).  The Debtors are
managed by Renato J. Gualtieri, a real estate developer based in
Langhorne, PA.

The Debtors' individual cases have not been ordered to be jointly
administered or consolidated and thus, each Debtor has its own
separate bankruptcy estate.  Judge Eric L. Frank presides over
these cases.

The petitions were signed by Renato J. Gualtieri, president of the
Debtors' corporate general partner.

At the time of the filing, Calnshire Estates estimated assets of
between $10 million and $50 million and liabilities of between $1
million and $10 million.  Island View Crossing and Steeple Run
estimated their assets and debts at $1 million to $10 million.

The Debtors tapped Smith Kane Holman, LLC as their bankruptcy
counsel, and Stradley Ronon Stevens & Young, LLP as special
litigation counsel.

On Jan. 30, 2018, the U.S. Trustee for Region 3 appointed Kevin
O'Hallaron as the Chapter 11 trustee in the case of Island View
Crossing II, L.P.  The trustee tapped Karalis PC as bankruptcy
counsel, Newbridge Management LLC as financial advisor, and
KapilaMukamal, LLP as tax accountant.


ISLET SCIENCES: Creditors Decry $442M Asset Valuation
-----------------------------------------------------
Creditors James Green; William Wilkison; Brighthaven Ventures LLC;
Steven Delmar; and Avolynt Inc. filed with the U.S. Bankruptcy
Court for the District of Nevada an objection to the Fourth Amended
Plan of Reorganization of Islet Sciences, Inc.

The Creditors cited several reasons why the Court should deny
confirmation of the Plan.

First, the Plan violates the Absolute Priority Rule.

The Plan proposes that equity retain its interest in Debtor and
suggests that the Plan provides for full payment of all unsecured
creditors' claims by giving them a certain number of shares of
equity in Debtor allegedly equal to the value of the unsecured
creditors' claims.  The Debtor's assets and equity, however, will
never be worth anywhere near the $442 million value suggested by
Debtor in the future, let alone on the effective date of the Plan
as required by the Bankruptcy Code, said Gerald M. Gordon, Esq., at
Garman Turner Gordon LLP, counsel for the Creditors.  He also
contended that the valuation of the Debtor's assets and equity is
unreliable such that the Valuation Analysis of Islet Science and
Allison's testimony should be excluded.  As a non-scientist without
any relevant expertise in economics, Allison is not qualified to
perform a valuation of Debtor's company whose assets primarily
consist of preclinical pharmaceutical products, Mr. Gordon said.

Second, the Court should deny confirmation of the Plan because the
Plan is not feasible.  

Mr. Gordon related that the Debtor has suffered net losses each
year since its inception in 2010, never had any revenue
prepetition, and has not had any revenue since the Petition Date.
The two pharmaceutical products, of which since at least 2012 the
Debtor has owned certain rights to intellectual property -- a
diagnostic test and a preclinical type 1 diabetes therapy (Combo
Therapy) -- never generated any revenue.  He said the Debtor has
not undertaken the necessary development of the intellectual
property to be revenue producing.  Nevertheless, the Plan assumes
that the Debtor will enter into agreements to license out the
intellectual property underlying the diagnostic test and Combo
Treatment to "major third-party biotechnology enterprises" and
generate substantial revenues therefrom in 2022, 2023, and 2024.
The projections Debtor's Plan relies upon are too speculative,
conjectural, and unrealistic, he said.

Third, the Court should deny confirmation of the Plan because the
Plan fails to meet the Best Interest Test.

The Debtor has stated the "conservative" value of only a portion of
its assets is $442,398,000.  Even turning to the discounted
valuation contained in the Liquidation Analysis of between
$44,240,000 and $221,199,000, the Liquidation Analysis projects
that between $40,770,000 and $210,651,000 will be available for
distribution to General Unsecured Creditors.  After payment in full
of General Unsecured Creditors, Debtor expects it would have a
surplus for ownership in Chapter 7 of between $31,870,000 and
$201,751,000.  

Section 1129(a)(7) of the Bankruptcy Code requires that a plan be
in the best interests of creditors and interest holders, and
specifically, that each holder of an impaired claim has either
accepted the plan, or "will receive or retain under the plan on
account of such claim or interest property of a value, as of the
effective date of the plan, that is not less than the amount that
such holder would so receive or retain if the debtor were
liquidated under Chapter 7 of this title on such date."  Given the
relatively quick liquidation and payment in full in a Chapter 7,
versus the uncertain result of accepting minority equity (and the
likelihood of dilution of such equity post-confirmation) in a
Chapter 11, the Plan fails as a matter of law to satisfy the best
interests test required by Section 1129(a)(7), Mr. Gordon
asserted.

Fourth, the Court should deny confirmation of the Plan because it
is unclear whether the injunction provision of the Plan complies
with applicable Ninth Circuit law.  

Ninth Circuit law prohibits plans that expressly provide for
non-consensual third-party releases.  The Plan at Article X(D)
provides for an injunction that applies to "Released Parties."
However, neither the Plan nor the Disclosure Statement provide a
definition of "Released Parties."  Without inclusion of the
definition of "Released Parties" to which the Plan injunction
applies, Mr. Gordon emphasized that it is impossible to determine
whether the injunction provision of the Plan complies with
applicable Ninth Circuit law and, therefore, the Court should deny
confirmation of the Plan.  Notwithstanding that Creditors objected
to Debtor's prior version of the Disclosure Statement on the basis
that neither that version of the Disclosure Statement, nor that
version of the Plan, defined "Release Parties" to which the Plan's
injunction provision applied, Debtor failed to amend the Disclosure
Statement and Plan to address the deficiency, Mr. Gordon added.

For these reasons, the Creditors asked the Court to deny
confirmation to the Plan.

A copy of the objection is available for free at
https://bit.ly/3lUGo22 from PacerMonitor.com.

James Green; William Wilkison; Brighthaven Ventures LLC; and Steven
Delmar are the Debtor's Petitioning Creditors.

Counsel for the Creditors:

   Gerald M. Gordon, Esq.
   Mark M. Weisenmiller, Esq.
   Garman Turner Gordon LLP
   7251 Amigo St., Suite 210
   Las Vegas, NV 89119
   Telephone: (725)-777-3000
   Facsimile: (725)-777-3112
   Email: ggordon@gtg.legal
          mweisenmiller@gtg.legal

                     About Islet Sciences

Islet Sciences, Inc., is a biotechnology company engaged in the
research, development, and commercialization of new medicines and
technologies for the treatment of metabolic diseases and related
indications covering unmet medical needs.

On May 29, 2019, creditors, namely, James Green, William Wilkison,
Brighthaven Ventures, LLC, Kevin M. Long, VACO Raleigh, LLC, Steve
Delmar, and Apex Biostatistics, Inc. (collectively, "Petitioning
Creditors") filed an involuntary Chapter 7 petition against Islet
Sciences (Bankr. D. Nev. 19-13366). The case was converted to one
under Chapter 11 on September 18, 2019.

Judge Mike K. Nakagawa oversees the case.

The Debtor has tapped Brownstein Hyatt Arber Schreck LLP and
Schwartz Law PLLC as its legal counsel, Armstrong Teasdale LLP as
special litigation counsel, and Portage Point Partners LLC as
financial advisor.

The U.S. Trustee for Region 17 appointed a committee of unsecured
creditors on November 26, 2019. The committee is represented by
Andersen Law Firm, Ltd.


KETTNER INVESTMENTS: All Classes Unimpaired in Plan
---------------------------------------------------
Kettner Investments, LLC, filed a Combined Disclosure Statement and
Chapter 11 Plan of Reorganization on Aug. 11, 2021.

In connection with its efforts to implement a financial
restructuring and bring order to the chaos that followed the
untimely death of its former majority owner, the Debtor commenced a
Chapter 11 case in September 2020.

Under the Combined  Disclosure Statement and Plan: (i) Medical
Marijuana, Inc.'s unsecured note claims (approximately $4 million)
will be reinstated; (ii) the Debtor's general unsecured creditors
will be paid in full in cash (approximately $1.3 million); (iii)
the existing Equity Interests in the Debtor shall be reinstated in
full in the Reorganized Debtor; and (iv) all of the assets of the
Debtor -- including all causes of action -- shall be revested in
the Reorganized Debtor free and clear of all Liens, Claims and
interests.

As of the Petition Date, the Debtor's unsecured claims consisted
primarily of (a) professional fees and expenses stemming from
certain litigation, described below in greater detail; and (b) a
disputed claim asserted by C&B, which claim was waived by C&B under
the Probate Settlement Agreement approved by the Bankruptcy Court
and the California Probate Court.  Exclusive of certain disputed
claims, the Debtor estimates its unsecured debt to total
approximately $1.3 million.  Notably, however, the amounts owed to
non-professional or trade creditors are de minimis.

As of the Petition Date, the Debtor had 531 units of membership
interest issued and outstanding, which are held by the following
five members: (i) the Estate of Michael Robert Llamas held 450
units; (ii) Stuart W. Titus (former manager of the Debtor) held 50
units; (iii) TL-66 held 29 units; (iv) John W. Huemoeller II held 1
unit (and is also a manager); and (v) James R. Arabia held 1 unit.
As a result of the Probate Settlement Agreement, forfeitures of
Units contemplated thereunder, the transfer of the Unit held by Mr.
Huemoeller to Mr. Arabia, and the transfer by TL-66 of 450 Units to
the Alice Faye Llamas Trust, the current equity composition of
Debtor is: 450 Units are held by MJNA, 450 Units are held by the
Alice Faye Llamas Trust and 1 Unit is held by Mr. Arabia.

A copy of the Combined Plan and a Disclosure Statement dated Aug.
11, 2021, is available at https://bit.ly/37Lj3aM

                    About Kettner Investments

Kettner Investments LLC is a marijuana investment firm based in
Delaware.

Kettner Investments sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 20-12366) on Sept. 16,
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 Karen B. Owens oversees the case.  

Bayard, P.A., serves as the Debtor's legal counsel.  Procopio Cory
Hargreaves & Savitch LLP, is special counsel.


LAROSE HOSPITALITY: Unsecureds to Get $2.5K Per Month for 5 Years
-----------------------------------------------------------------
Larose Hospitality, LLC submitted a First Amended Plan of
Reorganization under Subchapter V dated August 10, 2021.

The Debtor owns and operates a Holiday Inn Express & Suites hotel
located in Livingston, Texas. The Debtor's business was negatively
affected by COVID-19 pandemic, which caused reduced revenues and
led to a default on the Debtor's loan obligations. Due to the
events, the Debtor determined that the only way it could
effectively reorganize is in a Chapter 11 case under which it can
restructure its debts.

Class 1 consists of Allowed Secured Claims of Polk County. This
Claim shall be paid in full over the time period from the
commencement of payments under this Plan to the expiration of 5
years from the Petition Date, with interest thereon at the rate of
interest of 12% per annum.

Class 2 consists of Allowed Secured Claims of Ovation Services LLC
as agent for FGMS Holdings LLC. Ovation Services LLC as agent for
FGMS Holdings LLC, shall have an allowed secured claims for a total
amount of $97,956.81 plus 10.25% post-petition interest starting
from the Petition Date, plus reasonable and necessary attorneys'
fees and costs. Ovation's claim relating to proof of claim #4
(together with interest, costs, charges and fees pursuant to 11
U.S.C. § 506(b)) shall be paid in accordance with the Loan
Documents except that the term of repayment will be 120 months with
the first payment due 30 days after entry of the confirmation
order.

Class 3 consists of Allowed Secured Claim of Red Oak Capital
Funding II, LLC. Debtor will pay the Allowed Secured Claim in the
amount $4,082,166.00 over 60 months, The payments on the Allowed
Secured Claim shall be made based on the value of the property
(less the tax claims) in the amount of $3,080,101.80 which when
calculated with interest at the rate of 5% per annum with a 30 year
amortization equals $16,701.70 per month.

Class 4 consists of Allowed General Unsecured Claims. The Claims in
this class will be paid once Allowed pro rata out of $2,500 per
month payable over 60 months starting after the Effective Date on
the first day of each month thereafter. These Claims are Impaired.

Class 5 consists of Allowed Insider Claims. Class 5 shall consist
of the Allowed Claims of Insiders of the Debtor. Class 5 Claims
shall not be paid under this Plan. Claimants are Impaired and are
deemed to have rejected the Plan, but their claims will not be
counted for or against Confirmation.

Class 6 consists of Equity Interests. Equity Interests shall be
retained and are not Impaired.

The Debtor intends to make all payments required under the Plan
from available cash and income from the business operations of the
Debtor.

A full-text copy of the First Amended Plan of Reorganization dated
August 10, 2021, is available at https://bit.ly/3yMdUed from
PacerMonitor.com at no charge.

Attorneys for Debtor:
     
     Joyce W. Lindauer, Esq.
     Kerry S. Alleyne, Esq.
     Guy H. Holman, Esq.
     Joyce W. Lindauer Attorney, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034
     Email: joyce@joycelindauer.com

                     About Larose Hospitality

Larose Hospitality, LLC operates the Holiday Inn Express & Suites
in Livingston, Texas.

Larose Hospitality filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Texas Case No.
21-90034) on Feb. 24, 2021.  At the time of the filing, the Debtor
had between $1 million and $10 million in both assets and
liabilities.  The Debtor is represented by Joyce W. Lindauer
Attorney, PLLC.   

Henry Thomas Moran is the Subchapter V trustee appointed in the
Debtor's Chapter 11 case.


LIMETREE BAY: Has Cash Access, Sale Hearing Set for Oct. 19
-----------------------------------------------------------
Patricia Borns of The St. Thomas Source reports that the creditors
and lenders of Limetree Bay refinery agreed Wednesday, August 11,
2021, to a sale hearing date of Oct. 19, 2021 with a budget and a
$10 million draw that will allow the bankrupt business to stay
afloat through Aug. 29, 2021.

Since Chapter 11 proceedings commenced in the Bankruptcy Court of
the Southern District of Texas, Judge David Jones has cajoled
attorneys representing hundreds of secured and unsecured creditors
to subordinate their claims to the debtor in possession, Arena
Investors LP, to give the refinery a chance to survive.

"There is no stalking horse yet, but I understand there will be
some bidders on the island doing site tours in the next two weeks
or so," Limetree's lead bankruptcy attorney Elizabeth Green said.

Whether a sale goes forward depends on whether the buyer will be
required to modernize the plant, to clean up the contamination past
and present, and be held liable for any of the refinery's debt,
estimated at $1.8 billion.

                       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.


LIVE NATION: Moody's Affirms B2 CFR & Alters Outlook to Stable
--------------------------------------------------------------
Moody's Investors Service affirmed Live Nation Entertainment,
Inc.'s B2 corporate family rating, B2-PD probability of default
rating, B1 ratings on its senior secured credit facilities and
senior secured notes, and B3 ratings on its senior unsecured notes.
Live Nation's outlook was changed to stable from negative and the
speculative grade liquidity rating was upgraded to SGL-2 from
SGL-3.

"The outlook was changed to stable because of increasing momentum
in the number of scheduled live events, which will drive good
recovery in the company's results", said Peter Adu, Moody's Vice
President and Senior Analyst.

Affirmations:

Issuer: Live Nation Entertainment, Inc.

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Senior Secured Bank Credit Facility, Affirmed B1 (LGD3)

Senior Secured Regular Bond/Debenture, Affirmed B1 (LGD3)

Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD5)

Upgrades:

Issuer: Live Nation Entertainment, Inc.

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

Outlook Actions:

Issuer: Live Nation Entertainment, Inc.

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

Live Nation's B2 CFR is constrained by: (1) significant negative
impact of the coronavirus pandemic on its results although
mitigated by faster than expected increase in the number of
scheduled live events as reopenings occur; (2) leverage (adjusted
Debt/EBITDA) that is expected to be sustained towards 6x by the end
of 2022; and (3) event risks, such as new ticketing competitors and
regulatory changes addressing the company's substantial market
position or mandated consumer protection initiatives. The rating
benefits from: (1) good liquidity; (2) good market position,
enhanced by established relationships with performing artists
together with platforms for concert promotions and ticketing; which
create substantial entry barriers; and (3) good growth prospects
especially in emerging markets, where rising middle class incomes
will drive increased consumption of live events once the pandemic
is under control.

Live Nation has good liquidity (SGL-2). Sources approximate $2.1
billion while Moody's estimates that negative free cash flow will
be about $1.1 billion in the 12 months to June 30, 2022, with
minimal debt maturities. The company consumed about $130 million
per month on average for Q2 2021 (salaries, rent, interest, and
capex) and Moody's expects the cash burn to improve through the
rest of 2021 and into 2022 as live events return. Liquidity is
supported by $571 million of availability under its $630 million
multi-revolving credit facility that matures in October 2024 (none
drawn but there is $59 million of letters of credit outstanding),
cash of about $1.1 billion at June 30, 2021 (excluding $1.1 billion
in ticketing client cash and about $1.8 billion of net
event-related deferred revenue and accrued artist fees), and $400
million of delayed draw term loan that can be tapped for liquidity
purposes. Live Nation has to comply with a $500 million minimum
liquidity test for Q3 2021, which is not expected to be
problematic. The company will then have to comply with a net
leverage covenant with step downs for Q4 2021 and onwards. Moody's
expects cushion to exceed 10% in the four quarters to September 30,
2022. Live Nation has limited ability to generate liquidity from
asset sales.

The stable outlook is driven by increasing demand for live events
as vaccine roll outs continue, communities reopen and attendance
restrictions are relaxed, which will drive good recovery in the
company's revenue and profitability in the next 12 to 18 months.

Live Nation's social risk incorporates the impact of the pandemic
and regulation. The COVID-19 delta variant continues to spread in
the US and around the world, which could dampen the pent-up demand
for live events. Also, the company's market position attracts
periodic adverse publicity related to both consumer protection and
anti-competitive behavior. These lead to periodic calls for
regulatory intervention and although the company has not been
sanctioned, credit risk exists.

Live Nation's governance risk is tied to its financial policy. The
company has engaged in growth by acquisitions in the past without a
public leverage target. Liberty Media has a 34% ownership interest
in the company.

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

For an upgrade to be considered, the company must demonstrate
stable operating performance, eliminate its cash burn and maintain
good liquidity while sustaining Debt/EBITDA below 5.5x (6.1x
expected for 2022) and FCF/Debt above 5% (4% expected for 2022).

The ratings could be downgraded if suspension of live events
return, if liquidity becomes weak or if Debt/EBITDA is sustained
above 6.5x (6.1x expected for 2022) and FCF/Debt below 0% (4%
expected for 2022).

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

Live Nation Entertainment, Inc., headquartered in Beverly Hills,
California, owns, operates and/or exclusively books venues and
promotes live entertainment with operations in North America,
Europe, Asia and South America. The company also operates a leading
live entertainment ticketing and marketing company (Ticketmaster).
Revenue for the twelve months ended June 30, 2021 was $1.2 billion.


MEDLEY LLC: Strategic Capital Says Disclosure Statement Inadequate
------------------------------------------------------------------
Strategic Capital Advisory Services, LLC, objects to the adequacy
of disclosures of information in the First Amended Combined
Disclosure Statement and Chapter 11 Plan of Medley LLC.

Strategic Capital asserts that the Amended Plan and Disclosure
Statement lacks adequate information under § 1125(a). At a
minimum, the Amended Plan and Disclosure Statement should be
amended or supplemented to provide the following disclosures to
provide adequate information necessary to allow creditors to make
an informed decision to accept or reject the Amended Plan:  

     * A discussion of the factors applicable to settlements in
chapter 11 cases, and specifically why the compromise reached and
proposed in the Amended Plan and Disclosure Statement is in the
best interests of the estate, and not just certain constituents,
and is otherwise fair and equitable;

     * A discussion of why confirmation of the Amended Plan and
Disclosure Statement, which essentially provides for a liquidation
overseen by a trustee appointed by the Committee, is preferable to
a liquidation under chapter 7;

     * The Liquidation Analysis reflects that a payment of the
Notes Trustee Fees of approximately $716,000, roughly 300% of what
is proposed to be distributed to Class 4 General Unsecured
Creditors. The Amended Plan and Disclosure Statement should
disclose the basis in fact and law for the proposed payment of the
Notes Trustee Fees, with no disclosure of the actual fees or their
reasonableness, or the justification for payment of all fees
incurred by the Notes Trustee during the case before payment of all
unsecured creditors, rather than from the distributions to be paid
to the Note Claims;

     * A disclosure of the grounds for the Debtor-releases to be
given under the Amended Plan and Disclosure Statement, why they
were broadened, and the consideration being provided by each party
being given a release under what appears to be a liquidating plan;
and

     * A discussion about the timing and possible outcomes of the
liquidation of any claims filed or asserted by the SEC, and how
that might impact distributions to unsecured creditors.

A full-text copy of Strategic Capital's objection dated August 10,
2021, is available at https://bit.ly/3jPLw4F from Kurtzman Carson
Consultants, LLC, the claims agent.

Counsel to Strategic Capital:

     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     Robert J. Dehney
     Andrew R. Remming
     1201 North Market Street, 16th Floor
     P.O. Box 1347
     Wilmington, Delaware 19899-1347
     Tel: 302-351-9353
     Fax: 302-425-4673
     E-mail: rdehney@morrisnichols.com
             aremming@mnat.com

           - and -

     STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
     Harley E. Riedel
     Daniel R. Fogarty
     110 East Madison Street, Suite 200
     Tampa, Florida 33602
     Telephone: (813) 229-0144
     Facsimile: (813) 229-1811
     E-mail: hriedel@srbp.com
             dfogarty@srbp.com

                       About Medley LLC

Medley LLC, through its direct and indirect subsidiaries, including
Medley Capital LLC, is an alternative asset management firm
offering yield solutions to retail and institutional investors. It
provides investment management services to a permanent capital
vehicle, long-dated private funds, and separately managed accounts,
and serves as the general partner to the private funds. Medley is
headquartered in New York City and incorporated in Delaware.

As of Sept. 30, 2020, Medley had $3.4 billion of assets under
management in two business development companies, Medley Capital
Corporation (NYSE: MCC) and Sierra Income Corporation, and several
private investment vehicles.  Over the past 18 years, Medley has
provided capital to over 400 companies across 35 industries in
North America.

Medley filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case
No. 21-10526) on March 7, 2021.  The Debtor disclosed $5,422,369 in
assets and $140,752,116 in liabilities as of March 2, 2021.

The Debtor tapped Lowenstein Sandler LLP and Morris James LLP as
bankruptcy counsel, Eversheds Sutherland (US) LLP as special
counsel, B. Riley Securities Inc. as investment banker, and
Andersen Tax LLC as tax accountant. Corporation Service Company
serves as the Debtor's independent manager. Kurtzman Carson
Consultants, LLC is the claims agent, maintaining the page
https://www.kccllc.net/medley

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on April 22, 2021.  The committee is
represented by Potter Anderson & Corroon, LLP and Kelley Drye &
Warren, LLP.


METHANEX CORP: Moody's Affirms Ba1 CFR & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service affirmed Methanex Corporation's Ba1
corporate family rating, Ba1-PD probability of default rating, and
Ba1 senior unsecured notes rating. The outlook was changed to
stable from negative, and the speculative grade liquidity rating
was changed to SGL-1 from SGL-2.

"The change in outlook to stable for Methanex reflects the
significant improvement in the methanol markets in 2021 that is
leading to lower leverage metrics", said Paresh Chari Moody's
analyst. "The outlook change also reflects Methanex's sizable cash
position that could allow the company to complete the G3 project in
2023 without incurring any incremental debt."

Affirmations:

Issuer: Methanex Corporation

Corporate Family Rating, Affirmed Ba1

Probability of Default Rating, Affirmed Ba1-PD

Senior Unsecured Regular Bond/Debenture, Affirmed Ba1 (LGD4)

Senior Unsecured Shelf, Affirmed (P)Ba1

Upgrades:

Issuer: Methanex Corporation

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

Outlook Actions:

Issuer: Methanex Corporation

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

Methanex's Ba1 CFR is supported by its: 1) leading global market
share for methanol production; 2) geographic diversity (Canada, US,
Chile, New Zealand, Trinidad, Egypt) with logistical infrastructure
including a company-leased fleet of shipping vessels that supports
selling high volumes of methanol globally; and 3) cost-advantaged
natural gas for its North American facilities and flexible gas cost
structure outside of North America, where natural gas costs are
linked to methanol prices. Methanex is constrained by its: 1)
leverage of 3.2x in 2021 that will increase to above 4x in 2022 on
Moody's view of realized prices falling towards $300/tonne; 2)
single commodity product that exposes the company to the volatile
pricing in the fragmented methanol market; 3) natural gas supply
constraints for plants in Trinidad, New Zealand and Chile; and 4)
timing and cost overrun risks around the G3 brownfield project in
Louisiana that would lead to significant negative free cash flow
during construction, mitigated by sizable cash balances.

Methanex has very good liquidity (SGL-1) in the next twelve months.
At June 30, 2021 Methanex had about $764 million of cash and full
availability under its $300 million revolving credit facility that
matures in July 2026. The company also has full availability under
a committed $600 million construction bank facility (due 2025) to
build the G3 plant that can be used for 70% of construction costs.
Moody's expect about $150 million in negative free cash flow
through Q2 2022. Moody's expect Methanex to remain in compliance
with its two financial covenants through this period. Methanex's
nearest debt maturity is a $300 million senior unsecured note due
December 2024.

Methanex's senior unsecured notes are rated Ba1, the same as the
CFR, because unsecured debt represents the preponderance of
liabilities in the capital structure.

The stable outlook reflects Moody's expectation that leverage will
remain around 4x as Methanex constructs the G3 facility.

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

The ratings could be upgraded if debt to EBITDA is sustained below
2.5x (Jun-21 LTM 4.1x) based on Moody's forward view, if retained
cash flow to debt is above 25% (Jun-21 LTM 16%), if G3 was
completed without material cost overruns, and if the company
demonstrated investment grade financial policies.

The ratings could be downgraded if debt to EBITDA is sustained
above 4x (Jun-21 LTM 4.1x) based on Moody's forward view, and if
retained cash flow to debt is below 15% (Jun-21 LTM 16%).

Methanex is a public company, based in Vancouver, Canada British
Columbia, and is one of the largest producers of methanol in the
world, its only product.

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


MICHAEL A. GLEIBER: Seeks to Hire Maureen Catalano as Tax Preparer
------------------------------------------------------------------
Michael A. Gleiber, M.D., P.A. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Florida to hire
Maureen Catalano, EA, LLC, a certified IRS enrolled agent.

The Debtor needs the firm's assistance to prepare its 2020 federal
income tax returns and provide related services.

The firm will charge $2,050 for the corporate tax return and $1,250
for the personal tax return for a total fee of $3,300.

As disclosed in court filings, Maureen Catalano is "disinterested"
as such term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Maureen A. Catalano, EA
     Maureen Catalano EA LLC
     469 Holyoke Lane
     Lake Worth, FL 33467
     Phone: 561-671-9069

               About Michael A. Gleiber, M.D., P.A.

West Palm Beach, Fla.-based Michael A. Gleiber, M.D., P.A. offers
medical services related to the spine.

Michael A. Gleiber, M.D. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
21-17287) on July 28, 2021.  In the petition signed by Michael A.
Gleiber, president, the Debtor listed as much as $50,000 in assets
and as much as $10 million in liabilities.

Judge Mindy A. Mora presides over the case.

Nathan G. Mancuso, Esq., at Mancuso Law, P.A., represents the
Debtor as legal counsel.


MOBITV INC: September 22 Plan & Disclosure Hearing Set
------------------------------------------------------
Debtors MobiTV, Inc. and MobiTV Service Corporation, together with
the official committee of unsecured creditors (the "Committee," and
together with the Debtors, the "Plan Proponents"), filed a motion
for entry of an order approving, on an interim basis, the Plan
Proponents' First Amended Combined Disclosure Statement and Chapter
11 Plan of Liquidation.

On Aug. 10, 2021, Judge Laurie Selber Silverstein granted the
motion and ordered that:

     * Sept. 13, 2021, at 5:00 p.m. is the deadline by which all
Ballots must be properly executed, completed, delivered to, and
actually received by the Voting Agent.

     * Sept. 17, 2021, is the deadline for the Voting Agent to file
its Voting Report verifying the results of its voting tabulations
reflecting the votes cast to accept or reject the Plan.

     * Sept. 22, 2021, at 2:00 p.m. is the Combined Hearing.

     * Sept. 13, 2021, at 4:00 p.m. is the deadline for filing and
serving Plan Objections.

     * Sept. 20, 2021, at 12:00 p.m. is the deadline for the Plan
Proponents or any other party supporting Confirmation of the Plan
to file a response to any Plan Objections.

A copy of the order dated August 10, 2021, is available at
https://bit.ly/3yLTVwr from Stretto, the claims agent.

Counsel for the Debtors:

     Jason H. Rosell, Esq.
     Pachulski Stang Ziehl & Jones LLP
     150 California Street, 15th Floor
     San Francisco, CA 94111-4500
     Tel: 415-263-7000
     Fax: 415-263-7010
     E-mail: rpachulski@pszjlaw.com

                           About MobiTV Inc.

Founded in 2000, MobiTV is the first company to bring live and on
demand television to mobile devices and is a leader in
application-based television and video delivery solutions. MobiTV
provides end-to-end internet protocol streaming television services
via a proprietary cloud-based, white-label application.

On March 1, 2021, MobiTV Inc. and MobiTV Service Corporation filed
for Chapter 11 protection (Bankr. D. Del. Lead Case No. 21-10457).

MobiTV Inc. estimated at least $10 million in assets and $50
million to $100 million in liabilities as of the filing.

FTI Consulting, Inc. and FTI Capital Advisors LLC have been
retained as the Debtors' financial advisor and investment banker to
assist in negotiation of strategic options. Pachulski Stang Ziehl &
Jones LLP and Fenwick & West LLP serve as the Debtors' legal
counsel.  Stretto is the claims agent, maintaining the page
https://cases.stretto.com/MobiTV.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors on March 15, 2021.  The committee
tapped Fox Rothschild, LLP and PricewaterhouseCoopers, LLP as its
legal counsel and financial advisor, respectively.


MR. CAMPER: Seeks to Use Cash Collateral Thru Sept. 1
-----------------------------------------------------
Mr. Camper, L.L.C., d/b/a Yogi Bear's Jellystone Camp Resort, asked
the U.S. Bankruptcy Court for the Eastern District of Louisiana to
authorize the use of cash collateral on an interim basis through
September 1, 2021, pursuant to a 13-week budget.  The Debtor said
it has an immediate need to use cash collateral to meet necessary
expenses incurred in the ordinary course of its business, including
payroll and the costs associated with its restructuring and these
proceedings, while it restructures and reorganizes its debts.

The 13-week budget included weekly projections for cost of goods
and operating expenses, as follows:
    
                           Cost of         Total
   For the Week of        Goods Sold      Expenses
   ---------------        ----------     ----------
   August 16, 2021          $1,750        $29,175

   August 23, 2021          $1,750        $29,175

   August 30, 2021          $1,750        $29,175

   September 6, 2021        $1,200        $32,055

   September 13, 2021       $1,200        $26,485

   September 20, 2021       $1,200        $27,385

   September 27, 2021       $1,590        $26,075

The Debtor proposed to grant Apex Bank and the U.S. Small Business
Administration replacement liens on post-Petition Date assets,
having the same respective priority as their prepetition liens, to
secure any post-petition diminution in value thereof, to the extent
such interests are entitled to adequate protection against such
diminution under the Bankruptcy Code, and only to the extent that
it would be ultimately determined that Apex Bank and the SBA
possess valid, non-avoidable pre-petition liens and are entitled to
adequate protection of any such liens.

On July 11, 2012, the Debtor executed a promissory note in favor of
First NBC Bank for $2,375,000.  Note 1 was subsequently acquired by
Apex Bank through the Federal Deposit Insurance Corporation, as
receiver for First NBC Bank.  According to an appraisal dated April
18, 2012, the Debtor was valued as a resort-style campground at
$4.66 million.  On October 27, 2014, the Debtor and David Hunter
Doggette -- the brother-in-law of Maurice J. LeBlanc, Jr., the
Debtor's managing member -- executed another promissory note in
favor of First NBC Bank for $175,000.  Note 3 was subsequently
acquired by Apex Bank through the FDIC, as receiver for First NBC
Bank.  The Debtor granted First NBC Bank mortgages on the Debtor's
immovable property, i.e., the campground in Robert, Louisiana to
secure Notes 1 and 3.  The Debtor also executed security interests
in favor of First NBC Bank in the Debtor's equipment, fixtures,
inventory, accounts, and general intangibles.  Upon information and
belief, Apex Bank paid the FDIC between 61.77% and 26.07% of the
amounts due under Notes 1 and 3 as consideration for the notes.

The Debtor related that in December 2018, Apex Bank determined to
call Notes 1 and 3. Apex Bank demanded immediate payment of Note 3.
On April 10, 2019, Apex Bank filed a Petition for Executory
Process in the 21st Judicial District Court for the Parish of
Tangipahoa, State of Louisiana in case no. 2019-0001096.  A
foreclosure was scheduled for July 3, 2019.  The Debtor sought
relief under Chapter 11 on July 1, 2019. The Court confirmed the
Debtor's plan on June 1, 2020.

Under the confirmed plan, the Debtor was required pay the smaller
of the two notes held by Apex Bank and the SBA. Shortly after
confirmation, Mr. Camper paid the SBA and Apex Bank $7,401 and
$75,817, respectively, pursuant to the confirmed plan.  The Debtor
also made all the required periodic payments to Apex Bank and the
SBA under the Plan.

The Debtor, however, was unable to obtain refinancing within 12
months of the effective date, the period within which the Debtor
must pay the balance of its debt to Apex Bank.  Apex Bank
thereafter determined to initiate a foreclosure proceeding.
According to the Debtor, Apex Bank did not dismiss its previous
foreclosure action or cancel the writ of seizure which was recorded
prior to the July 1, 2019 bankruptcy case.  "This subchapter V case
was filed in response to Apex Bank's unwillingness to refinance or
accept repayment efforts to satisfy its large note," the Debtor
said.

The obligation to the SBA is on account of a loan obtained,
evidenced by a promissory note for $944,000 that was executed
January 12, 2017.  The Debtor used the loan proceeds to repair its
campground facilities that was damaged by a flood that hit many
parts of Tangipahoa Parish, Louisiana.  The Debtor granted the SBA
mortgages to secure the note, and a security interest in the
Debtor's accounts receivable.

The Debtor asserted in the current cash collateral motion that Apex
Bank and the SBA are adequately protected by an equity cushion in
the Debtor's resort-style campground.  An appraisal by Ashton W.
Ray, MAI of Murphy Appraisal Services, LLC on October 22, 2020
disclosed that the Debtor's overall market value is $4.7 million
and its immovable property, alone, is worth $4.225 million.
According to the Debtor, Apex Bank would be adequately protected by
an equity cushion of some $1.825 million to $2.3 million, or an
average of approximately 85.9%, given the aggregate amount of Apex
Bank's claim of approximately $2.4 million.  An equity cushion of
20% or more constitutes adequate protection, the Debtor pointed
out.

Proposed Counsel for the Debtor:

   Ryan J. Richmond, Esq.
   Sternberg, Naccari & White, LLC
   251 Florida Street, Suite 203
   Baton Rouge, LA 70801-1703
   Telephone: (225) 412-3667
   Facsimile: (225) 286-3046
   Email: ryan@snw.law

Proposed Co-Counsel for the Debtor:

   Markus E. Gerdes, Esq.
   Gerdes Law Firm, LLC
   106 North Cypress Street
   P.O. Box 2862
   Hammond, LA 70404
   Telephone: (985) 345-9404
   Facsimile: (985) 543-0434
   Email: Markus@gerdeslaw.net

                     About Mr. Camper, L.L.C.

Mr. Camper, L.L.C., d/b/a Yogi Bear's Jellystone Camp Resort, is a
Louisiana limited liability company that owns and operates a Yogi
Bear's Jellystone Campground in Robert, LA.  Mr. Camper is a part
of the Yogi Bear's Jellystone Park Camp network of campsites and
resorts throughout the United States and Canada.  

Mr. Camper filed a Chapter 11 petition (Bankr. E.D. La. Case No.
19-11775) on July 1, 2019.  Its Plan was confirmed on June 1, 2020.
On August 11, 2021, when its Chapter 11 case was terminated, the
Debtor filed a petition under Subchapter V of Chapter 11 (Bankr.
E.D. La. Case No. 2:21-bk-11051).  In the petition signed by
Maurice J. LeBlanc, Jr., managing member, the Debtor estimated $1
million to $10 million in both assets and liabilities.  

Sternberg, Naccari & White and Gerdes Law Firm, LLC represent the
Debtor as counsel and co-counsel, respectively.  Leo Congeni has
been appointed to serve as the Debtor's Subchapter V Trustee.



MURCIA GROUP: Seeks to Hire Saladrigas Law Center as Legal Counsel
------------------------------------------------------------------
Murcia Group, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to hire Saladrigas Law Center
to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     a. giving advice to the Debtor with respect to its powers and
duties and the continued management of its business operations;

     b. advising the Debtor with respect to its responsibilities in
complying with the U.S. trustee's operating guidelines and
reporting requirements and with the rules of the court;

     c. preparing legal documents;

     d. protecing the interest of the Debtor in all matters pending
before the court; and

     e. representing the Debtor in negotiation with its creditors
in the preparation of a Chapter 11 plan.

Mercy Saladrigas, Esq., at Saladrigas Law Center, disclosed in a
court filing that her firm does not represent any interest adverse
to the Debtor or its estate.

The firm can be reached through:

     Mercy Saladrigas, Esq.
     Saladrigas Law Center
     2655 S. Le Jeune Road, PH 2-A
     Coral Gables, FL 33134
     Phone: + 1 (305) 500-5559
     Email: mercy@saladrigaslaw.com

                      About Murcia Group Inc.

Murcia Group, Inc. sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-16618) on July 5,
2021, listing as much as $50,000 in both assets and liabilities.
Judge Peter D. Russin oversees the case.  Mercy Saladrigas, Esq.,
at Saladrigas Law Center, represents the Debtor as legal counsel.


NEW HOLLAND: Case Summary & 3 Unsecured Creditors
-------------------------------------------------
Debtor: New Holland, LLC
        936 Monterey Blvd.
        Hermosa Beach, CA 90254

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-16454

Judge: Hon. Barry Russell

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  Email: michael.berger@bankruptcypower.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Patrick R. Kealy as president.

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

https://www.pacermonitor.com/view/FN3UKVY/New_Holland_LLC__cacbke-21-16454__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Three Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. LADWP                            Utility Bill            $5,682
PO Box 30808
Los Angeles, CA
90030-0808

2. So Cal Gas                       Utility Bill              $557
PO Box C
Monterey Park, CA
91756-5111

3. Spectrum                         Utility Bill              $557
PO Box 60074
City of Industry, CA
91716-0074



NORTONLIFELOCK INC: Fitch Affirms 'BB+' LT IDR, Outlook Stable
--------------------------------------------------------------
Fitch Ratings has affirmed NortonLifeLock Inc.'s (NLOK) Long-Term
Issuer Default Rating (IDR) at 'BB+'. In addition, NLOK's senior
secured term loan and revolver have also been affirmed at
'BBB-'/'RR1' and the senior unsecured notes at 'BB+'/'RR4'. The
Rating Outlook remains Stable.

These rating actions follow NLOK's announcement that it has agreed
to acquire Avast Plc in a combination of cash and stock, which
values Avast between $8.6 billion and $9.2 billion, depending on
the election of Avast stockholders. To fund the transaction, NLOK
will raise approximately $5.4 billion of new permanent debt
including the upsizing of its existing Term Loan A and the new
issuance of Term Loan B. The transaction is expected to close in
mid-2022 following regulatory approvals and other customary closing
conditions.

The Stable Outlook reflects Fitch's expectation that FCF generation
should allow the company to reduce leverage meaningfully within
four to eight quarters after the transaction closes. Furthermore,
the acquisition will allow the company to increase in size and
expand its geographic footprint.

KEY RATING DRIVERS

Pending Acquisition of Avast: On Aug. 10, 2021, NortonLifeLock and
Avast Plc announced that they agreed to merge. Avast is a publicly
traded Czech-based cybersecurity company that offers "freemium"
software as well as premium. It has over 435 million users and 16.7
million are paying subscribers. Its seven top markets are the U.S.,
the U.K., France, Germany, Canada, Brazil, and Russia. NLOK views
the merger as one that brings together a complimentary product
portfolio. Once combined, NLOK will have well over 500 million
total users and approximately 40 million direct customers.

Terms of the Transaction: Avast shareholders can elect one of two
options: 1) exchange each share for $2.37 of cash and 0.1937 of
NLOK stock (31% cash and 69% stock) or 2) exchange each share for
$7.61 in cash and 0.0302 of NLOK stock (90% cash and 10% stock). If
all Avast shareholders elected the first option, NLOK would pay out
$2.5 billion in cash and $5.6 billion in stock. Avast directors
account for about 37% of all outstanding shares and have agreed to
the first option. Therefore, if all stockholders (excluding Avast
directors) elected the majority of cash option, there would be $6.1
billion of cash paid out and $2.5 billion of stock issued.

Should Avast shareholders all elect the majority stock option, then
there would be $2.5 billion of cash paid and $5.6 billion of NLOK
stock issued. Should the majority of Avast stockholders elect this
option, NLOK has stated that it would increase its share repurchase
program up to another $3 billion after the transaction closes,
which would bring its authorized share repurchase program up to
$4.8 billion.

Temporary Increase in Leverage: With the acquisition of Avast, NLOK
is expected to increase debt significantly to fund the transaction.
Assuming the transaction closes in mid-2022, Fitch forecasts
leverage (defined as total debt with equity credit to operating
EBITDA) at the end of FY 2023 to be in the range of 4.0x-4.4x. FCF
(after dividends) is expected to be over $1 billion allowing the
company to delever to a range of 3.0x to 3.5x at the end of FY 2024
regardless of how Avast shareholders elect to exchange their stock.
However, should NLOK become aggressive with share repurchases
(which may happen if all Avast stockholders elect the majority of
stock option) or if NLOK pursues additional acquisitions that are
debt funded, leverage could fall on the high end of the ranges.

International Growth: With the pending Avast acquisition and the
past Avira acquisition, NLOK is expanding its international
footprint. In January 2021, NLOK acquired Avira for approximately
$360 million. Avira is a German-based cybersecurity company that
offers its customers freemium cyber security solutions. Just like
Avast's freemium subscribers, NLOK's ultimate goal is to convert
those users to paid subscription customers. Avira added nearly 2
million customers to NLOK's customer base.

Strong Consumer Cybersecurity Brands: Norton and LifeLock are among
the top cybersecurity brands in the consumer cybersecurity segment,
albeit a fragmented market. In Fitch's view, brand value is
particularly important for products that face competitive consumer
markets as differentiations with product features are generally
difficult and consumers rely on brand awareness and reputation. In
the competitive consumer cybersecurity markets, Norton has
consistently been recognized as a top-five brand in internet
security along with other brands including McAfee, TotalAV, and
Bitdefender. LifeLock also has strong brand awareness for identity
protection along with Identity Guard, and McAfee Identity Theft
Protection.

Narrow Market Focus: The divestiture of the Enterprise Security
business back in 2019 enabled NortonLifeLock to focus solely on the
consumer market where it has an 85% retention rate. Despite
Symantec's historically volatile profitability, the consumer
segment had consistently generated strong profitability. The
narrowed focus around the consumer market has allowed the company
to better execute on delivering consistent revenue growth. NLOK has
been successfully growing revenues and sees revenue growth of
8%-10% or more in the current fiscal year and Fitch believes this
is achievable.

IT Security Threats Increasingly Complex: IT security threats have
evolved from PC-centric to mobile devices, networks, and user
identities. The evolving threats enable a continuous stream of
niche solutions to develop, addressing threats beyond the
traditional PC-centric security to protect users, data and networks
at various levels of the internet. While some of these solutions
were developed by legacy cybersecurity providers, many were created
by suppliers with narrow expertise. NortonLifeLock has realigned
its products to better address market needs by creating more
user-centric security solutions for consumers.

DERIVATION SUMMARY

NLOK is well positioned for its 'BB+' rating given its strong
operating profile and EBITDA margins of approximately 50%. With a
strong focus around the consumer market, the company has actively
been looking to grow and has been expanding its international
presence with a recent and large pending acquisition.

The company operates in the consumer technology market that is
inherently competitive and fragmented. Nevertheless, the strong
profitability reflects NLOK's historical strong market position
supported by the reputation and brand value in Norton and LifeLock
products. Inherent to the consumer market, competitive dynamics are
prone to change with consumer behavior and technological changes.
The stronger focus around the consumer market should enable
NortonLifeLock to maintain its competitiveness in the market.

The consumer market where NLOK operates is generally more
competitive than technology peers including Constellation Software
(BBB+/Stable), Citrix Systems (BBB/Stable), and Cadence Design
Systems (BBB+/Stable). These three are all higher rated than NLOK
since they all have significantly lower leverage and stronger
credit profiles. However, NLOK has consistently had stronger EBITDA
and FCF margins, which benefit from its strong consumer market
position.

KEY ASSUMPTIONS

-- Revenue growth of 10% in FY 2022, in line with management's
    guidance of 8%-10% plus;

-- The acquisition of Avast closes in mid-2022; both NLOK and
    Avast have revenue growth in the mid-single digits;

-- EBITDA margins of approximately 50% or slightly better,
    reflecting recent performance as well as increased operating
    efficiencies post-closing;

-- Shareholder returns continue through flat dividends and share
    srepurchases;

-- The acquisition of Avast occurs as planned with no material
    changes;

-- No other acquisitions are assumed.

RATING SENSITIVITIES

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

-- Fitch's expectation of leverage (defined as total debt with
    equity credit/operating EBITDA) below 2.5x on a sustained
    basis;

-- Total debt with equity credit/FCF ratio below 5x on a
    sustained basis.

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

-- Failure to meaningfully delever within six quarters after the
    Avast transaction closes;

-- Fitch's expectation of sustained leverage (defined as total
    debt with equity credit/operating EBITDA) above 3.5x;

-- Total debt with equity credit/FCF ratio above 7.5x on a
    sustained basis;

-- Evidence of negative organic revenue growth and/or erosion of
    EBITDA and FCF margins;

-- Significant debt-financed acquisitions or share repurchases
    that significantly weaken the company's credit profile for a
    prolonged period of time.

BEST/WORST CASE RATING SCENARIO

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

LIQUIDITY AND DEBT STRUCTURE

Liquidity Expected to Remain Solid: As of July 2, 2021, NLOK had
total liquidity of $2.2 billion including over $1.2 billion of cash
on the balance sheet and a fully undrawn secured $1 billion
revolving credit facility. In addition, NLOK's cash position
increased in mid-July, when it received $358 million in cash for
the sale of its Mountain View buildings. In April 2022, NLOK has
$400 million of senior unsecured notes due and in June 2022, there
are $625 million of senior unsecured convertible notes due. With
strong FCF (after annual dividends of $300 million), Fitch expects
NLOK's liquidity to remain robust. Upon the closing of the
transaction, NLOK intends to upsize its $1.0 billion secured
revolver to $1.5 billion.

ISSUER PROFILE

NortonLifeLock, Inc. is a global consumer cybersecurity company
with nearly 80 million users located in more than 150 countries.
The company offers consumers both premium and "freemium" software.
Approximately 30 million consumers use freemium software.

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.


NTH SOLUTIONS: May Use Cash Collateral Through Sept. 15
-------------------------------------------------------
Judge Eric L. Frank of the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania authorized Nth Solutions, LLC to use cash
collateral during the period from the Petition Date through
September 15, 2021, to pay all reasonable and necessary expenses
related to the operation of its business, including all trust fund
payroll and sales taxes in accordance with the budget.  The
Debtor's use of cash collateral may be extended for an additional
four weeks upon filing with the Court an Amended Budget which has
been approved by the Debtor's Lender, Bryn Mawr Trust.

The Lender is granted valid, binding, enforceable and perfected
post-petition replacement liens on the Debtor's postpetition assets
but limited to those types and descriptions of collateral in which
the Lender holds a pre-petition lien or security interest to the
extent of the pre-petition perfection and priority of the asserted
pre-petition lien.  The Replacement Liens shall have the same
priority and validity as the Lender's pre-petition security
interests and liens.

A further hearing to consider the Debtor's continued use of cash
collateral will be held on September 15, 2021 at 11 a.m.

A copy of the order is available for free at https://bit.ly/2VMt3O9
from PacerMonitor.com.

                         About Nth Solutions

Nth Solutions, LLC -- https://nth-solutions.com/ -- operates a
facility located at 15 East Uwchlan Avenue in Exton, Pa., where it
manufactures electronic and mechanical precision devices. In
addition to its own product line, Nth Solutions also works with its
clients using a proprietary market-driven methodology in order to
produce additional "state-of-the-art" products.

Nth Solutions sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Pa. Case No. 21-10782) on March 26, 2021.  In the
petition signed by Susan Springsteen, managing partner and member,
the Debtor estimated less than $50,000 in assets and liabilities of
$1 million to $10 million.

Judge Eric L. Frank oversees the case.

Maschmeyer Karalis P.C. represents the Debtor as counsel.



OAKLAWN HOSPITAL: Moody's Affirms Ba1 Rating, Outlook Stable
------------------------------------------------------------
Moody's Investors Service has affirmed Oaklawn Hospital's
(MI)(Oaklawn) Ba1 rating. Total outstanding direct debt as of
fiscal 2021 was approximately $66 million. The outlook remains
stable.

RATINGS RATIONALE

Affirmation of the Ba1 is driven by expectations that the system
will continue to maintain its market position resulting in low
double digit operating cash flow margins. Volume metrics are
expected to rebound following challenges of the COVID 19 pandemic
which included a shutdown of elective procedures in early fiscal
2021. Continued challenges with nursing recruitment and retention
will pressure operating performance in the near term as the system
continues to balance wage pressure and higher than average contract
labor. Liquidity metrics will be maintained due to the system's
moderate capital spending plans. A somewhat high exposure to
equities at 43% will pressure balance sheet measures in the event
of a market downturn. Leverage metrics will improve with a
continued paydown in debt and no additional plans for new money
borrowing and an all fixed rate debt structure with no indirect
debt liabilities contribute to a conservative capital structure.

RATING OUTLOOK

The stable outlook incorporates expectations that the system will
continue to maintain cash levels to support continued challenges of
wage pressure and the ongoing COVID 19 pandemic. Additionally,
stabilization of operating performance will be driven by a steady
increase in volume metrics as the country recovers from the
pandemic.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING

Expansion of service lines or geographic reach resulting in
overall growth and revenue diversification

Strengthening of leverage metrics

Balance sheet maintenance that keeps pace with operating revenue
growth

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING

A fundamental change in operating levels that leads to a sustained
decline in performance

Increase in leverage

Erosion of liquidity

LEGAL SECURITY

The bonds are secured by a gross revenue pledge of the obligated
group bolstered by an account control agreement, as well as a
mortgage on the Oaklawn Hospital site in Marshall, MI.

PROFILE

Ella E.M. Brown Charitable Circle, d/b/a Oaklawn Hospital is a
single-hospital system with 94 licensed beds, 15 miles southeast of
Battle Creek, in Marshall, MI, the county seat of Calhoun County.
Oaklawn, a Level III trauma designated hospital, is the leading
healthcare provider in its primary service area covering two thirds
of Calhoun County and parts of Eaton, Jackson, and Branch
counties.

METHODOLOGY

The principal methodology used in this rating was Not-For-Profit
Healthcare published in December 2018.


OBLONG INC: Incurs $2.3 Million Net Loss in Second Quarter
----------------------------------------------------------
Oblong, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $2.25
million on $2.05 million of revenue for the three months ended June
30, 2021, compared to a net loss of $3.39 million on $2.82 million
of revenue for the three months ended June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $5.68 million on $3.97 million of revenue compared to a net
loss of $6.51 million on $8.14 million of revenue for the same
period during the prior year.

As of June 30, 2021, the Company had $34.94 million in total
assets, $6.63 million in total liabilities, and $28.31 million in
total stockholders' equity.

Total cash balance at June 30, 2021 was $13.1 million.  The Company
raised net proceeds of $11.5 million from an equity financing that
closed on June 30, 2021.

As of June 30, 2021, the Company had no debt outstanding other than
the Company's $2.4 million PPP Loan.  The PPP Loan was entirely
forgiven by the SBA in July 2021.  Therefore, the Company will
record other income in the third quarter of 2021 and has no debt as
of July 31, 2021.

Pete Holst, chairman and CEO of Oblong, commented, "The recent
selection of Mezzanine by one of the world's most prominent digital
entertainment companies is incremental proof that reinforces the
prioritization of hybrid collaboration and the importance of
envisioning new types of workspaces as employees begin a measured
return to corporate office environments.  Beyond this initial
engagement phase, we are managing a number of proposed and actual
pilot implementations across a variety of industries that have
incredible potential to scale in concert with our customers' vision
of a redesigned workplace.  As we build our next-generation of
hybrid workspace solutions, investments in product development,
design and customer engagement will be our core focus over the
coming months."

Holst continued, "In spite of recent dynamics related to Covid-19
variants across the world and a tempered return to commercial
office spaces, we continue to see growing inquiries and requests to
test and implement prototypes that address hybrid collaboration
and, more importantly, increase engagement and accelerate
productivity. Following the closure of many commercial spaces over
the last 18 months, recent trends indicate that the 'full' return
of employees is both unlikely and moving at a much more cautious
pace than originally anticipated.  While near-term employee
engagement is likely to remain mostly remote, we believe there are
growing indicators that applicability of our solutions and
substantial domain expertise will have massive commercial appeal
for the workforce of the future.  Macro data continues to support
significant growth for hybrid communications tools, and the market
opportunity is highly compelling."

Holst concluded, "Subsequent to the end of the second quarter, our
board appointed two new independent directors, Mr. Matt Blumberg
and Ms. Debby Meredith, to the board.  They are dedicated,
successful leaders with unique executive-level experience,
strategic insights, and track records of success in technology that
we are fortunate to leverage at Oblong.  Elevating our corporate
governance with these two talented professionals was timely as we
continue to invest in engineering and product development for
long-term growth."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/746210/000074621021000055/glow-20210630.htm

                         About Oblong Inc.

Oblong, Inc. -- www.oblong.com -- was formed as a Delaware
corporation in May 2000 and is a provider of patented multi-stream
collaboration technologies and managed services for video
collaboration and network applications.

Oblong reported a net loss of $7.42 million for the year ended Dec.
31, 2020, compared to a net loss of $7.76 million for the year
ended Dec. 31, 2019. As of Dec. 31, 2020, the Company had $29.14
million in total assets, $7.09 million in total liabilities, and
$22.06 million in total stockholders' equity.

Iselin, New Jersey-based EisnerAmper LLP, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated March 30, 2021, citing that the Company has incurred losses
and expects to continue to incur losses. These conditions raise
substantial doubt about its ability to continue as a going concern.


PANBELA THERAPEUTICS: Incurs $2.2-Mil. Net Loss in Second Quarter
-----------------------------------------------------------------
Panbela Therapeutics, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.19 million for the three months ended June 30, 2021, compared
to a net loss of $419,000 for the three months ended June 30,
2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $4.44 million compared to a net loss of $2.22 million for
the six months ended June 30, 2020.

As of June 30, 2021, the Company had $7.30 million in total assets,
$1.39 million in total current liabilities, and $5.90 million in
total stockholders' equity.

General and administrative expenses were $1.2 million in the second
quarter of 2021, compared to $0.7 million in the second quarter of
2020.  The increase in the quarter is primarily associated with
increased employee compensation and other increased costs
associated with maintaining the listing of our common stock on the
Nasdaq Capital Market.

Research and development expenses were $1.0 million in the second
quarter of 2021, compared to $0.4 million in the second quarter of
2020.  The increase in the quarter is due primarily to higher
manufacturing costs in preparation for future clinical trials.

Total cash and cash equivalents was $6.4 million as of June 30,
2021.  Total current assets were $7.2 million and current
liabilities were $1.4 million as of the same date.  Total cash on
June 30, 2021 does not include net proceeds of approximately $9.0
million from the sale of 3,333,334 shares of its common stock at a
price to the public of $3.00 per share, before underwriting
discounts and commissions, which closed on July 2, 2021.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1029125/000143774921019460/snbp20210630_10q.htm

                           About Panbela

Headquartered in Waconia, Minnesota, Panbela Therapeutics, Inc. --
www.Panbela.com -- is a clinical stage biopharmaceutical company
developing disruptive therapeutics for the treatment of patients
with cancer.  Its product candidate, SBP-101, is a proprietary
polyamine analogue designed to induce polyamine metabolic
inhibition, a metabolic pathway of critical importance in multiple
tumor types.

Panbela Therapeutics reported a net loss of $4.77 million for the
year ended Dec. 31, 2020, compared to a net loss of $6.20 million
for the year ended Dec. 31, 2019.  As of March 31, 2021, the
Company had $8.89 million in total assets, $1.31 million in total
current liabilities, and $7.58 million in total stockholders'
equity.

Tampa, Florida-based Cherry Bekaert, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
March 25, 2021, citing that the Company has recurring losses and
negative cash flows from operations that raise substantial doubt
about its ability to continue as a going concern.


PARAISO OCEAN: Seeks to Hire Mark S. Roher as Legal Counsel
-----------------------------------------------------------
Paraiso Ocean, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to employ The Law Office of
Mark S. Roher, P.A. to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) giving advice to the Debtor with respect to its powers and
duties and the continued management of its business operations;

     (b) advising the Debtor with respect to its responsibilities
in complying with the U.S. trustee's operating guidelines and
reporting requirements and with the rules of the court;

     (c) preparing legal documents;

     (d) protecting the interest of the Debtor in all matters
pending before the court; and

     (e) representing the Debtor in negotiation with its creditors
in the preparation of a Chapter 11 plan.

Mark Roher, Esq., sole shareholder of the firm, will charge $350
per hour for his services.  The retainer fee is $10,000.

Mr. Roher disclosed in a court filing that he and his firm do not
represent any interest adverse to the Debtor and its estate.

The firm can be reached through:

     Mark S. Roher, Esq.
     The Law Office of Mark S. Roher, P.A.
     1806 N. Flamingo Road, Suite 300
     Pembroke Pines, FL 33028
     Telephone: (954) 353-2200
     Email: mroher@markroherlaw.com

                      About Paraiso Ocean LLC

Paraiso Ocean, LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
21-17585) on Aug. 1, 2021. At the time of the filing, the Debtor
listed $500,001 to $1 million in assets and 100,001 to $500,000 in
liabilities. Judge Robert A. Mark oversees the case. The Debtor is
represented by Mark S. Roher, Esq., at the Law Office of Mark S.
Roher, P.A.


PORT ARTHUR: Seeks to Hire Neal Law Group as Special Counsel
------------------------------------------------------------
Port Arthur Steam Energy, L.P. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ The
Neal Law Group, PLLC as its special counsel.

The firm's services include:

     a. claim analysis and prosecution of the pending litigation
(Adversary No. 21-06004);

     b. analysis and prosecution of any additional claims or causes
of action against Oxbow Calcining; and

     c. any related state court proceedings.

The firm will charge an hourly rate of $400 for its services.

As disclosed in court filings, Neal Law Group does not have adverse
interest barring its employment.

The firm can be reached through:

     Loyd Neal, Esq.
     The Neal Law Group, PLLC
     3006 Brazos St.
     Houston, TX 77006
     Tel: 713-403-7400

                  About Port Arthur Steam Energy

Port Arthur Steam Energy, L.P. filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Texas Case No. 21-60034) on April 14, 2021,
disclosing under $1 million in both assets and liabilities.  Judge
Christopher M. Lopez oversees the case.  The Debtor hired Walker &
Patterson, P.C. as its bankruptcy counsel and The Neal Law Group,
PLLC as its special counsel.


PULMATRIX INC: Incurs $3.9 Million Net Loss in Second Quarter
-------------------------------------------------------------
Pulmatrix, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $3.85
million for the three months ended June 30, 2021, compared to a net
loss of $1.17 million for the three months ended June 30, 2020.
The $2.7 million increase in net loss year-over-year was due to
increased spend for preclinical and manufacturing expenses on the
PUR3100 program and reduced revenue recognized that related to the
Pulmazole program.

Revenue for the second quarter of 2021 was $2.2 million, compared
to $3.5 million for the same period in 2020.  The revenue for the
second quarter of 2021 was the result of the collaboration and
licensing agreements with Cipla and JJEI.

For the six months ended June 30, 2021, the Company reported a net
loss of $7.96 million on $3.64 million of revenues compared to a
net loss of $5.86 million on $6.26 million of revenues for the same
period during the prior year.

As of June 30, 2021, the Company had $65.43 million in total
assets, $12.34 million in total liabilities, and $53.09 million in
total stockholders' equity.

"We have made steady progress across our pipeline in the second
quarter," said Ted Raad, chief executive officer of Pulmatrix.
"Recent toxicology data from PUR1800 suggests the potential to
expand into indications that require chronic dosing.  We look
forward to presenting topline data from the fully enrolled, ongoing
Phase 1b study of PUR1800 in Q1 2022.  We are also rapidly
advancing towards the clinic with PUR3100 in acute migraine.  We
believe that our strong cash position allows us to advance our
pipeline through major data milestones into 2023."

As of June 30, 2021, Pulmatrix had $56.9 million in cash and cash
equivalents, compared to $31.7 million for the year ended December
31, 2020.

Research and development expense was $4.5 million in the second
quarter of 2021 compared to $3.2 million for the same period in
2020.  The increase year–over-year was primarily attributable to
increased preclinical and manufacturing costs related to the
PUR3100 project partially offset by decreased spend on the
Pulmazole clinical trial.

General and administrative expense was $1.6 million for the second
quarter of 2021 compared to $1.5 million for the same period in
2020.  The increase year–over-year was primarily attributable to
increase legal, patent, ad public company costs partially offset by
decreased employment costs.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1574235/000149315221019116/form10q.htm

                          About Pulmatrix

Pulmatrix, Inc. -- http://www.pulmatrix.com-- is a clinical stage
biopharmaceutical company developing innovative inhaled therapies
to address serious pulmonary and non-pulmonary disease using its
patented iSPERSE technology.  The Company's proprietary product
pipeline includes treatments for serious lung diseases such as
allergic ronchopulmonary aspergillosis and lung cancer, as well as
neurologic disorders such as acute migraine. Pulmatrix's product
candidates are based on iSPERSE, its proprietary engineered dry
powder delivery platform, which seeks to improve therapeutic
delivery to the lungs by maximizing local concentrations and
reducing systemic side effects to improve patient outcomes.

Pulmatrix reported a net loss of $19.31 million for the year ended
Dec. 31, 2020, compared to a net loss of $20.59 million for the
year ended Dec. 31, 2019. As of March 31, 2021, the Company had
$69.85 million in total assets, $13.20 million in total
liabilities, and $56.65 million in total stockholders' equity.


PURDUE PHARMA: Chapter 11 Trial Opens With Sackler Releases Attacks
-------------------------------------------------------------------
Law360 reports that the states took immediate aim at Purdue
Pharma's Chapter 11 plan letting members of the Sackler family off
the hook for liability, asking at the two-week confirmation trial
that kicked off in New York bankruptcy court Thursday, August 12,
2021, if the company had looked at all the alternatives.

Over the course of an all-day virtual hearing, representatives of
Purdue faced questions from parties objecting to its proposed
Chapter 11 plan, specifically the liability releases it would grant
the drugmaker's owners in the Sackler family, and defended the
releases as the only way to get the Sacklers to agree to the plan.


                   About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Chapter 11 Trial Tests Bankruptcy Power's Limit
--------------------------------------------------------------
Jonathan Randles of The Wall Street Journal reports that the
Chapter 11 trial tests the limit of bankruptcy power.

The company most often blamed for the opioid epidemic, OxyContin
maker Purdue Pharma LP, sought refuge in bankruptcy from an
onslaught of lawsuits that threatened to put the drugmaker out of
business.

Now, after nearly two years in chapter 11, Purdue heads to trial in
a New York bankruptcy court to seek approval of a
multibillion-dollar proposal to settle the nationwide litigation
that hinges on a roughly $4.5 billion contribution from the
company's Sackler family owners. If successful, the bankruptcy plan
will transform the drugmaker into a public benefit company
dedicated to providing opioid addiction medicine and overdose
treatments—with no involvement from the founding family.

Standing in Purdue's way are a handful of state and federal
authorities that oppose the Sackler deal and argue they can’t be
forced into its terms. The Sacklers have been named as defendants
in litigation alleging they share liability for fueling opioid
addiction, which they deny. Purdue is among the drug manufacturers,
distributors and pharmacies facing litigation over opioids, some of
which separately agreed last month to a historic $26 billion
settlement to address the epidemic.

The bankruptcy trial, scheduled to begin Thursday, August 12, 2021,
won't weigh Purdue's or the Sacklers' potential culpability in the
opioid crisis. Instead, U.S. Bankruptcy Judge Robert Drain is
expected to consider the settlement’s value and whether its
economics offer a fair resolution to the chapter 11 case.

The bankruptcy court will consider the application of a legal tool
known as a nonconsensual third-party release, which would
extinguish claims against the Sacklers even by creditors that
object. If approved, the settlement would begin funding abatement
programs later this year, court papers show.

Purdue is testing the power of bankruptcy courts to both extend the
benefits of chapter 11 to the Sacklers, and to force holdout
creditors to accept settlements they don’t agree to. Both powers
are important aspects of how chapter 11 gives troubled companies a
fresh start and forge deals with creditors.

Critics of the proposal have argued the Sacklers aren't
contributing enough of their estimated $11 billion fortune to abate
the opioid epidemic, which has intensified during the Covid-19
pandemic, though largely due to synthetic opioids like fentanyl.
The Sacklers, who aren’t in bankruptcy themselves, have collected
more than $10 billion from Purdue since 2008. Family members have
said in court papers they retained less than half of that, with
$4.7 billion going toward taxes and $1.5 billion invested in
international ventures.

The settlement would shield the Sacklers from further litigation
over opioids in exchange for about $4.5 billion the family would
pay over time, as well as their agreement to relinquish ownership
of Purdue to the public. The company pleaded guilty to federal
felonies over its marketing and distribution of OxyContin, a
powerful opioid painkiller.

Purdue has won support for the proposal from groups representing
opioid victims, local governments and most states, saying it
maximizes the money that litigants could have hoped for through
civil litigation and fairly distributes those funds to communities
across the country.

In the absence of federal assistance, the proposal is the only
mechanism available to provide critical funds to communities
damaged by the opioid crisis, according to a committee representing
unsecured creditors that investigated the Sacklers during the
bankruptcy case.

While the Sacklers have assets "far in excess" of the settlement
offer, future litigation against them is uncertain and would likely
take years to complete, the committee said in a letter to Purdue
creditors. Recovering any potential judgment would pose additional
challenges because many of the family’s assets are in overseas
trusts, the creditors committee said.

Estimations of the family's wealth are being fought over in court.
An expert witness retained by Oregon, Washington and other states
opposed to Purdue’s deal has estimated the Sacklers' assets will
be worth roughly $14 billion in 2030, after all settlement payments
are made, according to court documents. Lawyers for the Sacklers
have said that estimate is flawed and unreliable and are seeking to
have it excluded from the bankruptcy trial.

Former Purdue board member David Sackler said in a sworn
declaration earlier this month that his family members would only
agree to fund the settlement if it included "broad releases" that
protect them from future lawsuits, which he said they would
otherwise defend against. Mr. Sackler said the settlement
represents an "opportunity to bring much needed resources to abate
the opioid crisis, rather than spending years and depleting those
resources defending the lawsuits against us."

"We are not willing to endorse any resolution that leaves our
family exposed to new lawsuits relating to historical Purdue
conduct," his declaration said.

Those opposed to the settlement include nine states, the District
of Columbia and the Justice Department's bankruptcy unit, which
have argued the releases are unconstitutional and deprive opioid
victims of their day in court. Congressional Democrats including
Sen. Elizabeth Warren (D, Mass) and Richard Blumenthal (D., Conn.)
have also criticized the nonconsensual releases and have proposed
legislation to ban them in chapter 11.

It is potentially the first time the Justice Department has
challenged the constitutional authority of bankruptcy judges—who
aren't nominated by the president and confirmed by the U.S. Senate
to serve lifetime terms like other federal judges—to approve such
releases, Georgetown Law Professor Adam Levitin told House
lawmakers last July 2021.

Connecticut Attorney General William Tong told a congressional
committee last month that the possibility of Judge Drain approving
the binding releases gave the Sacklers leverage in negotiations
with state authorities to limit the amount of money they would
contribute.

"People rush to make a deal because they're worried if they don't
make a deal, the judge will cram the deal down and force us to
accept releases," Mr. Tong said during a House Judiciary Committee
hearing.

Purdue and the Sacklers have disputed Mr. Tong's characterization
and said the nonconsensual releases were needed to boost the value
of the settlement.

This story has been published from a wire agency feed without
modifications to the text

                    About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Supporting States Say Sacklers Releases Fair
-----------------------------------------------------------
Law360 reports that states and other government bodies that
consented to Purdue Pharma's Chapter 11 plan defended the plan's
liability releases for members of the Sackler family as the
confirmation trial entered its second day Friday, August 13, 2021,
arguing that it's a fair deal to fund opioid abatement.

Over the course of an all-day virtual hearing, witnesses for
settling governments said both the plan and its scheme for
distributing settlement proceeds among the states were fair, while
the New York bankruptcy judge overseeing the case sought to "probe"
the reasons behind the Sackler releases. Purdue entered bankruptcy
in September 2019.

                     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.





RANDOLPH HOSPITAL: Unsecureds to Share Pro Rata of Net Trust Assets
-------------------------------------------------------------------
Randolph Hospital, Inc., d/b/a Randolph Health, and its affiliated
debtors filed with the U.S. Bankruptcy Court for the Middle
District of North Carolina a Second Amended Joint Plan of
Liquidation dated August 6, 2021.

The Plan shall be funded from Cash on hand, the proceeds of the
Sale Transaction, and the net proceeds from the sale, liquidation,
or other disposition of the Remaining Assets, including the
litigation of Retained Causes of Action.

The Liquidation Trust shall be established and become effective on
the Effective Date in accordance with the provisions of the Plan
and the Liquidation Trust Agreement. On the Effective Date, the
Trust Assets shall vest in the Liquidation Trust and shall
thereafter be administered, liquidated (by sale, collection,
recovery, settlement or other disposition) by the Liquidation
Trustee in accordance with the Liquidation Trust Agreement and the
Plan.  None of the Acquired Assets under the Asset Purchase
Agreement shall vest in or otherwise be subject to the Liquidation
Trust.

Classes of Claims and their Treatment in the Plan

  * Class 1 Secured Tax Claims

The Debtors do not believe there are any such claims in this
Class.

  * Class 2 Priority Non-Tax Claims

Each holder of Allowed Class 2 Claim shall receive, in full and
final satisfaction of such Allowed Secured Tax Claim, a Cash
payment in an amount equal to the Allowed Priority Non-Tax Claim on
the latest of: (i) the Effective Date; (ii) such date as may be
fixed by the Bankruptcy Court; (iii) the 10th Business Day after
such Claim is Allowed; and (iv) such date as the holder of such
Claim and the Liquidation Trustee may agree.

  * Class 3 Term Loan Claim

In full satisfaction of the Term Loan Claim and all related Liens,
the holder of the Term Loan Claim shall receive:

   (a) on the Effective Date, or as soon thereafter as reasonably
practicable, a Cash payment of $8,450,000;

   (b) the net Cash proceeds, if any, of any Accounts, which net
Cash proceeds shall be paid to the holder of the Term Loan Claim on
a rolling basis as such Cash proceeds are received by the Debtors
and/or Liquidation Trust, as applicable; and

   (c) an Allowed General Unsecured Claim of $200,000 which shall
be treated as an Allowed Class 5 General Unsecured Claim under the
Plan.

  * Class 4 Other Secured Claims

Each holder of an Allowed Class 4 Claim shall receive on the
Effective Date in full satisfaction of the Secured Claim: (i) the
proceeds from the Sale Transaction in an amount equal to the value
of the holder's interest in the collateral securing such Claim or
(ii) the Debtors will surrender the Collateral securing the Allowed
Other Secured Claim to the holder. Any remaining Allowed Claim
after the payment of the value of the holder's Collateral or
surrender of the Collateral as set forth above shall be treated in
Class 5.

  * Class 5 General Unsecured Claims

Each holder of an Allowed Class 5 Claim shall be entitled to
receive, in full satisfaction of such Claim, a Pro Rata share of
the Net Trust Assets on the later of (a) the date or dates
determined by the Liquidation Trustee, to the extent there is Cash
available for distribution; and (b) 30 days after the date on which
such Claim has become Allowed by a Final Order.

  * Class 6 Medical Malpractice Claims

Holders of Class 6 Claims shall, in full satisfaction of such
Claims be granted relief from the automatic stay and any stay or
injunction provided for under the Plan or the Confirmation Order to
pursue payment of their Medical Malpractice Claims from applicable
Insurance Policies. Recovery on account of such Claims shall be
limited to any available proceeds of such Insurance Policies.
Holders of Medical Malpractice Claims shall not receive any Cash
distribution from the Liquidation Trust or otherwise under the Plan
on account of such Claims.

A copy of the Second Amended Plan is available for free at
https://bit.ly/3xFWEGr from Epiq, claims agent.

A copy of the redline of the Plan is available for free at
https://bit.ly/37xClAi from Epiq, claims agent.

Counsel for the Debtors:

   Jody A. Bedenbaugh, Esq.
   Graham S. Mitchell, Esq.
   Nelson Mullins Riley & Scarborough LLP
   1320 Main St., 17th Floor
   Post Office Box 11070 (29211)
   Columbia, SC 29201
   Telephone: (803) 799-2000
   Facsimile: (803) 256-7500
   Email: Jody.Bedenbaugh@nelsonmullins.com
          graham.mitchell@nelsonmullins.com

           - and -

   Jason L. Hendren, Esq.
   Rebecca F. Redwine, Esq.
   Benjamin E.F.B. Waller, Esq.
   Hendren, Redwine & Malone, PLLC
   4600 Marriott Drive, Suite 150
   Raleigh, NC 27612
   Telephone: (919) 420-7867
   Facsimile: (919) 420-0475
   E-mail: jhendren@hendrenmalone.com
           rredwine@hendrenmalone.com
           bwaller@hendrenmalone.com

                      About Randolph Hospital

Randolph Hospital -- https://www.randolphhealth.org/ -- operates as
a hospital that provides inpatient and outpatient services in North
Carolina. The Company offers, among other services, cancer care,
imaging, maternity services, cardiac services, surgical services,
outpatient specialty clinics, rehabilitation services, and
emergency services.

Randolph Hospital, Inc. and its affiliates, MRI of Asheboro, LLC
and Randolph Specialty Group Practice, each filed a voluntary
petition for relief under chapter 11 of the Bankruptcy Code (Bankr.
M.D.N.C. Lead Case No. 20-10247) on March 6, 2020. In the petition
signed by CRO Louis E. Robichaux IV, Randolph Hospital was
estimated to have $100 million to $500 million in both assets and
liabilities.

Judge Lena Mansori James oversees the case.

The Debtor is represented by Nelson Mullins Riley & Scarborough LLP
as counsel, and Hendren, Redwine & Malone, PLLC as co-counsel.
Epiq Corporate Restructuring, LLC is the claims agent.

The Official Committee of Unsecured Creditors is represented by
Andrew H. Sherman, Esq., Boris I. Mankovetskiy, Esq., and Sills,
Cummis & Gross, P.C. The Bank of America, as the Lender, is
represented by Scott Vaughn, Esq.




RIVERFRONT CRUISE: Taps Richard R. Robles as Legal Counsel
----------------------------------------------------------
Riverfront Cruise and Anticipation Yacht Charters, LLC received
interim approval from the U.S. Bankruptcy Court for the Southern
District of Florida to hire the Law Offices of Richard R. Robles,
P.A. to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) giving advice to the Debtor with respect to its powers and
duties;

     (b) advising the Debtor with respect to its responsibilities
in complying with the U.S. trustee's operating guidelines and
reporting requirements and with the rules of the court;

     (c) preparing legal documents;

     (d) protecting the interest of the Debtor in all matters
pending before the court; and

     (e) representing the Debtor in negotiation with its creditors
in the preparation of a Chapter 11 plan.

The Law Offices of Richard R. Robles received an initial retainer
in the amount of $15,000 and $1,738 for the filing fee.  The firm
will also be reimbursed for out-of-pocket expenses incurred.

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

The firm can be reached at:

     Richard R. Robles, Esq.
     Rafael Quintero, Esq.
     Law Offices of Richard R. Robles, P.A.
     905 Brickell Bay Drive, Suite 228
     Miami, FL 33131
     Tel: (305) 755-9200
     Email. rrobles@roblespa.com
            lmartinez@roblespa.com

                    About Riverfront Cruise and
                    Anticipation Yacht Charters

Riverfront Cruise and Anticipation Yacht Charters, LLC filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 21-17382) on July 29, 2021.  James
Campbell, the Debtor's member, signed the petition.  In the
petition, the Debtor listed as much as $50,000 in assets and as
much as $10 million in liabilities.

Judge Peter D. Russin presides over the case.

Richard R. Robles, Esq., at the Law Offices of Richard R. Robles,
P.A., represents the Debtor as legal counsel.


RIVERROCK RECYCLING: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Riverrock Recycling & Crushing, LLC
           d/b/a River Rock
        1001 Brandt Pike
        Dayton, OH 45404

Business Description: RiverRock Recycling is a privately held
                      company in the portable crushing business.

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       Southern District of Ohio

Case No.: 21-31385

Judge: Hon. Guy R. Humphrey

Debtor's Counsel: Darlene E. Fierle, Esq.
                  LAW OFFICES OF IRA H. THOMSEN
                  140 North Main Street, Suite A
                  P.O. Box 639
                  Springboro, OH 45066
                  Tel: 937-748-5001
                  Fax: 937-748-5003
                  E-mail: dfierle@ihtlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Orville E. Lykins as operations
manager.

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

https://www.pacermonitor.com/view/47HAOGQ/Riverrock_Recycling__Crushing__ohsbke-21-31385__0001.0.pdf?mcid=tGE4TAMA


ROLLING MEADOWS: Fitch Rates $12MM Series 2021 Revenue Bonds 'BB+'
------------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to the following New Hope
Cultural Education Facilities Finance Corporation bonds expected to
be issued on behalf of Rolling Meadows, TX:

-- $12 million series 2021 senior living revenue bonds.

The Rating Outlook is Stable.

The 2021 bonds proceeds will be used to refund the series 2012
bonds. Concurrently, Rolling Meadows will use unrestricted cash to
repay its series 2015 bank loan and fund whatever debt service
reserve fund required for the series 2021 bonds. Series 2021 will
be fixed rate and matches series 2012 in term and amortization.

SECURITY

The bonds are secured by a gross revenue pledge, a mortgage and a
debt service reserve fund.

ANALYTICAL CONCLUSION

Adept cost management has allowed Rolling Meadows to maintain sound
profitability despite stagnant independent living census. Due to
its relatively small revenue base, Rolling Meadows is sensitive to
fluctuations in occupancy, which underscores the 'BB+' rating,
despite a relatively resilient financial profile. Consistent
profitability and adequate liquidity are key credit strengths,
providing flexibility for rental agreement facilities like Rolling
Meadows.

KEY RATING DRIVERS

Revenue Defensibility: 'bb'

Soft, Albeit Stable, Occupancy in a Declining Market

Rolling Meadows' demand profile is weak, with independent living
unit (ILU) occupancy that averaged 80% over the four years leading
up to 2020, when occupancy softened due to the coronavirus
pandemic. Fitch attributes Rolling Meadows' stagnant ILU occupancy
over the past several years to declining service area population,
moderate competition and the trend of seniors aging in place within
their residences.

Rolling Meadows operates with a moderate amount of competition in
its 50-mile market area. Fitch expects the competitive market
conditions to endure. Additionally, the population in Rolling
Meadow's primary service area is declining, with average household
income below state and national averages. Despite relatively weak
demographics in its primary market area, Rolling Meadows has a
demonstrated history of regular rate increases. As a rental
facility, local real estate values are minimally relevant to
Fitch's pricing characteristics assessment.

Operating Risk: 'bbb'

Steady Operating Performance

Fitch's assessment of Rolling Meadows' operating risk is based on a
demonstrated track record of good cost management, within the
context of its rental contract mix. Of some concern, is Rolling
Meadows elevated average age of plant and the potential need for
future capital spending to address its consistently soft demand
profile.

Rolling Meadows offers a rental contract allowing management to
increase rates and manage expenses across the continuum of care
given the minimal healthcare liability. Rolling Meadows has a
history of maintaining good cost management, with a five-year
average operating ratio of 86.1% and net operating margin (NOM) of
23.2%. Core operating performance remained relatively stable in
2020, with an operating ratio of 90% and NOM of 20%. Rolling
Meadows' capex has averaged about 7% of depreciation over the last
three years. Near-term capex are expected to be limited to routine
maintenance. An average age of plant of 24 years as of 2020
indicates the possibility of increased future capital expenditure
requirements to remain competitive.

Rolling Meadows' capital-related metrics are solidly midrange, with
revenue-only MADS coverage of 1.3x and debt-to-net available of 9x
in 2020, consistent with historical levels. MADS represented 15.6%
of 2020 revenues, an indication of Rolling Meadow's adequate
ability to absorb the modest planned capex in the context of
current operations.

Financial Profile: 'bb'

Resilient Financial Profile Through the Cycle

At YE 2020, Rolling Meadows had unrestricted cash-to-adjusted debt
of about 102% and MADS coverage of 1.3x. Given Rolling Meadows'
weak revenue defensibility and midrange operating risk assessments
and Fitch's forward-looking scenario analysis, Rolling Meadows' key
leverage metrics remain consistent with the rating level through a
moderate stress. As of YE 2020, Rolling Meadows had unrestricted
cash and investments of approximately $17 million. This represents
about 102% of total adjusted debt. DCOH was strong at 787 days at
the end of 2020.

ASYMMETRIC ADDITIONAL RISK CONSIDERATIONS

No asymmetric risks informed the rating decision.

RATING SENSITIVITIES

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

-- Sustained liquidity growth such that cash to adjusted debt
    exceeds 160%;

-- MADS coverage sustained at greater than 2.6x.

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

-- Addition of debt or deterioration in liquidity such that
    liquidity is sustained at less than 70% cash to debt;

-- Major construction or expansion projects that are expected to
    significantly disrupt ongoing operations;

-- Further deterioration in census levels that pressure operating
    ratios above 95%.

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

Rolling Meadows is a type D (rental) continuing care retirement
community located in Wichita Falls, TX (2018 population 104,576),
approximately 130 miles northwest of the Dallas-Fort Worth (DFW)
metroplex. Wichita Falls is the primary population center between
DFW and Oklahoma City (OK) and is home to the Sheppard Air Force
Base.

The Rolling Meadows 25.2-acre community includes 167 ILUs (cottages
and apartments), 86 SNF beds, and 22 memory care units. Rolling
Meadows provides home health agency services for its residents on a
fee for service basis.

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.


ROMAN CATHOLIC CHURCH: Seeks Approval to Hire Del Rio Surveys
-------------------------------------------------------------
The Roman Catholic Church of the Archdiocese of Santa Fe seeks
approval from the U.S. Bankruptcy Court for the District of New
Mexico to hire Del Rio Surveys, Inc. to conduct a boundary survey
for its real property at 1220 Canyon Road, Santa Fe, N.M.

The firm will charge a fee of $3,250, plus applicable gross
receipts tax.

As disclosed in court filings, Del Rio Surveys does not have
interest adverse to the Debtor, creditors or any other party in
interest.

The firm can be reached through:

     Philip B. Wiegel
     Del Rio Surveys, Inc.
     1452 S St Francis Dr
     Santa Fe, NM 87505
     Phone: +1 505-820-9200

                 About the Archdiocese of Santa Fe

The Roman Catholic Church of the Archdiocese of Santa Fe --
https://www.archdiosf.org/ -- is an ecclesiastical territory or
diocese of the southwestern region of the United States in the
state of New Mexico. At present, the Archdiocese of Santa Fe covers
an area of 61,142 square miles.  There are 93 parish seats and 226
active missions throughout this area.

The Archdiocese of Santa Fe sought Chapter 11 protection (Bankr.
D.N.M. Case No. 18-13027) on Dec. 3, 2018, to deal with child abuse
claims. It reported total assets of $49,184,579 and total
liabilities of $3,700,000 as of the bankruptcy filing.  Judge David
T. Thuma oversees the case.

The archdiocese tapped Elsaesser Anderson, Chtd. and Walker &
Associates, P.C., as bankruptcy counsel, Stelzner, Winter,
Warburton, Flores, Sanchez & Dawes, P.A as special counsel, and
REDW LLC as accountant.


ROSA MOSAIC & TILE: Hits Chapter 11 Bankruptcy Protection
---------------------------------------------------------
Haley Cawthon of Louisville Business First reports that Rosa Mosaic
& Tile Co., a longstanding Louisville-based tile business, has
filed for Chapter 11 bankruptcy protection.

The family-owned company has worked on several prominent projects
in Louisville, such as the Humana Building, the Kentucky
International Convention Center, the KFC Yum! Center, and most
recently, the Louisville International Airport renovation,
according to its website. It's led by President Anna Tatman,
alongside her siblings Louis and John Cristofoli, whom took over
the business from their father, John Cristofoli Sr., after his
retirement in 1999.

In an email, Tatman said the company filed for Chapter 11
protection as a result of pension liabilities and ongoing
litigation with the labor union representing some of its
employees.

"We are very confident that Rosa Mosaic will be able to
successfully reorganize and come out of Chapter 11 stronger than
ever before," she said. "The Chapter 11 filing will not affect Rosa
Mosaic’s day-to-day business going forward."

According to the bankruptcy filing, Rosa Mosaic has 18 creditors,
the largest of which is a disputed, unsecured claim of $1.2 million
by Steven Knowles. As Tatman mentioned, two of the unsecured claims
are in relation to pension liabilities, including $508,654 claimed
by Bricklayers & Trowel Trades International Pension Fund and
$212,383 claimed by Bricklayers Union No. 1 of KY Pension.

                        About Rosa Mosaic

Rosa Mosaic & Tile Co. is a Louisville-based tile company.  Rosa
Mosaic & Tile Co. sought Chapter 11 protection (Bankr. W.D. Ky.
Case No. 21-31649) on August 6, 2021. In the petition signed by
Anna C. Tatman as president, Rosa Tile disclosed assets of
$1,158,806 and liabilities of $3,706,464.  Neil C. Bordy, Esq., of
SEILLER WATERMAN LLC, is the Debtor's counsel.


SAGE ECOENTERPRISES: Unsecureds Share Pro Rata of $126K in Plan
---------------------------------------------------------------
Sage EcoEnterprises, LLC and TGS Hospitality, LLC filed with the
U.S. Bankruptcy Court for the Western District of North Carolina an
Amended Joint Plan of Reorganization dated August 6, 2021.  The
Debtors' cases, however, are not jointly administered.  Each Debtor
has filed the Amended Joint Plan in its own bankruptcy case.

Sage owns and operates three restaurants in and around Asheville,
North Carolina under the name Green Sage Cafe. Its affiliate, TGS,
also owns and operates one additional Green Sage Cafe location in
Asheville. The United States Small Business Administration holds a
junior lien on Sage's assets as well. The Debtors' other
obligations include ad valorem taxes, prepetition sales taxes,
unsecured trade debts, and potential litigation claims.

The Plan contemplates that distributions will be funded by revenues
generated during the Debtors' post-petition operations, the
Reorganized Debtor's future revenue, and the new capital
contributions of the holders of the Equity Interests in the Debtors
to be paid on or before the Effective Date. Upon the Confirmation
Date, and in consideration for voluntarily contributing $200,000
for the payment of others' Claims under the Plan, the holders of
the Equity Interests in the Debtors shall be released and
discharged of any liability related to the operation of the Debtors
and/or their debts.

Through the joint Plan, the Debtors intend to substantively
consolidate and restructure their secured debts based on the value
of the applicable creditors' collateral.  Subject to occurrence of
the Effective Date, the assets and liabilities of the Debtors shall
be pooled and all allowed Claims shall be satisfied from the assets
of a single consolidated estate.

Classes and Treatment of Claims and Interests

  * Class 1 Allowed Secured Tax Claims

Each holder of an Allowed Secured Tax Claim shall be paid the
Allowed Amount of its Class 1 Claim, at the option of the
Reorganized Debtor: (a) in full, in Cash, on the Effective Date or
as soon as practicable thereafter; (b) upon such other terms as may
be mutually agreed upon between the Class 1 Claim holder and the
Reorganized Debtor; or (c) in equal, annual Cash payments, plus
interest,  starting the year following the Effective Date, within
five years from the Petition Date.

  * Class 2 First Allowed Secured Claim of Truist (Note 1)

  * Class 3 Second Allowed Secured Claim of Truist (Note 7)

  * Class 4 Third Allowed Secured Claim of Truist (Note 8)  

The Debtors are jointly obligated on a series of secured loans,
evidenced by the currently outstanding notes, from Truist Bank,
formerly known as Branch Banking and Trust Company.  The secured
loans encumber essentially all of the Debtors' operating assets.
Allowed Claims in Classes 2, 3 and 4 shall be treated as a fully
secured obligation of the Reorganized Debtor, including any
interest, fees, or charges allowed under Section 506(b) of the
Bankruptcy Code, less any adequate protection payments made on such
Claim during the Chapter 11 cases. The resulting amount in each of
Class 2, Class 3 and Class 4 shall be paid to Truist within 90 days
of the Effective Date in full satisfaction of the Claims.

  * Class 5 Allowed Secured Claim of SBA

Class 5 consists of the Allowed Secured Claim of the SBA.  This
Claim shall be treated as a secured obligation of the Reorganized
Debtor for $150,000 or such lesser principal amount as is stated in
any allowed, timely proof of claim filed by the SBA, less any
adequate protection payments made on such Claim during the Chapter
11 Cases. Payments on the allowed Class 5 Claim shall begin in May
2022, in equal monthly installments of principal and interest due
on the 15th date of each successive month, with interest at 3.75%
per annum, over 360 months with no prepayment penalty.

  * Class 6 Allowed Other Priority Claims

Class 6 consists of all Allowed Other Priority Claims.  These
Claims shall be treated as unsecured obligations of the Reorganized
Debtor. Each holder of an Allowed Class 6 Claim shall be paid the
allowed amount at the option of the Reorganized Debtor: (a) in
full, in Cash, on the Effective Date or as soon as practicable
thereafter; (b) upon such other terms as may be mutually agreed
upon between such holder of an Allowed Other Priority Claim and the
Reorganized Debtor; or (c) in annual Cash payments such that the
full amount of each Allowed Class 6 Claim is paid in full within
three years from the Effective Date. Payments under option (c)
shall be made on or before each applicable anniversary of the
Effective Date.

  * Class 7 Allowed Administrative Convenience Claims

Class 7 consists of all Allowed General Unsecured Claims in amounts
of $1,000 or less each.  These Claims shall be treated as unsecured
obligations of the Reorganized Debtor. Each holder of an Allowed
Class 7 shall be paid the allowed amount of its Administrative
Convenience Claim as of the Petition Date in full within 60 days
after the Effective Date. Any Administrative Convenience Claim to
which an objection is made shall be treated in Class 8 if
subsequently allowed by Final Order of the Bankruptcy Court.

  * Class 8 Allowed General Unsecured Claims

Class 8 consists of all Allowed General Unsecured Claims in amounts
greater than $1,000 each, including all allowed Unsecured
Deficiency Claims.  These Claims shall be treated as unsecured
obligations of the Reorganized Debtor. Each holder of an Allowed
Class 8 Claim will receive a Pro Rata Share of $110,000 up to the
full amount of its Allowed Class 8 Claim on or before December 31,
2025, and a like Pro Rata Share of $16,132 on or before December
31, 2026.

  * Class 9 Allowed Filed Wage Litigation Claims (Pecuniary Loss
Portion)

These Claims shall be treated as unsecured obligations of the
Reorganized Debtor. Each holder of an Allowed Class 9 Claim will
receive the full amount of that portion of its Claim attributable
to actual pecuniary loss as of the Petition Date in two equal
installments. The first installment shall be paid on or before
December 31, 2023. The second installment shall be paid on or
before December 31, 2024.

  * Class 10 Allowed Filed Wage Litigation Claims (Non-Pecuniary
Portion)

These Claims shall be treated as unsecured obligations of the
Reorganized Debtor subordinate to all Allowed Class 9 Claims. Each
holder of an Allowed Class 10 Claim will receive the full amount of
its Claim on or before December 31, 2026.

  * Class 11 Unfiled Wage Litigation Claims

These Claims may be treated as unsecured obligations of the
Reorganized Debtor. Each holder of a Class 11 Claim shall receive a
single payment of $500 from the Reorganized Debtor on or before
June 30, 2022, provided that any such holder of a Class 11 Claim
who executes and returns the Opt-Out Form within 21 days of the
Confirmation Date shall be deemed to have waived all Claims against
the Debtors, the Debtors in Possession, the Reorganized Debtor,
and/or their property, and shall receive no distributions under the
Plan.  However, a holder of an Unfiled Wage Litigation Claim who
timely returns an Opt-Out Form shall not be subject to the third
party release.

  * Class 12 Equity Interests in the Debtor

All Equity Interests in the Debtors held prior to the Petition Date
shall be retained in the Reorganized Debtor.

A copy of the Amended Joint Plan is available for free at
https://bit.ly/3AFSq3t from PacerMonitor.com.

Counsel for the Debtors:

   Richard S. Wright, Esq.
   Moon Wright & Houston, PLLC
   121 West Trade Street, Suite 1950
   Charlotte, NC 28202
   Telephone: (704) 944-6560
   Telephone: (704) 944-6564 (Direct)
   Facsimile: (704) 944-0380
   Email: rwright@mwhattorneys.com

                     About Sage EcoEnterprises

Sage EcoEnterprises, LLC, d/b/a Green Sage Cafe, is a privately
held company that owns and operates restaurants.

Sage EcoEnterprises filed a Chapter 11 petition with the United
States Bankruptcy Court Western District of North Carolina (Bankr.
W.D.N.C. Case No. 21-10072) on April 20, 2021.

In the petition signed by James R. Talley, member manager, the
Debtor reported $1,155,799 in total assets and $1,550,628 in total
liabilities.

Judge George R. Hodges oversees the case.

Richard S. Wright, Esq., at Moon Wright & Houston, PLLC, is the
Debtor's counsel.


SEADRILL LIMITED: Eyes January 2022 to Exit Bankruptcy
------------------------------------------------------
Joshua Mann of the Houston Business Journal reports that Seadrill
Ltd. has filed its plan of reorganization with Houston's bankruptcy
court, and is targeting the start of 2022 for its exit from
bankruptcy.

Under the Plan, Seadrill plans to turn over nearly all of its
ownership interest to creditors.  Shareholders who owned the
company before the bankruptcy will share the remaining 0.25%
ownership in the reorganized company, according to court
documents.

For Seadrill, the plan would cut nearly $5 billion in debt and
raise $350 million in new financing when it takes effect, according
to a company press release.

Creditors behind 57% of Seadrill's senior secured loans have agreed
to support the plan. Under that agreement, Seadrill has to secure
court approval for the plan by Nov. 5, 2021 and exit the court by
Jan. 4, 2022, the company said.

Seadrill originally filed for bankruptcy in February 2021 in the
Southern District of Texas, which is based in Houston. At that
time, the company held liabilities of $7.19 billion, according to
court documents. That makes it the largest oil and gas bankruptcy
to enter the Houston court during the first half of 2021, according
to data from Haynes and Boone LLP. But despite that one large
filing, oil and gas bankruptcies are cooling down overall, Haynes
and Boone found.

At the time of its filing, Seadrill employed 3,100 people. That's
down about 30% from 4,538 at the start of 2020, according to
Seadrill's financial reports.

                        About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry. As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack-up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt. It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs. Seadrill said it is
in talks with lenders on a restructuring of its $5.7 billion bank
debt.

Seadrill Partners LLC, a limited liability company formed by
deep-water drilling contractor Seadrill Ltd. to own, operate and
acquire offshore drilling rigs, along with its affiliates, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-35740) on
Dec. 1, 2020, after its parent company swept one of its bank
accounts to pay disputed management fees. Mohsin Y. Meghji,
authorized signatory, signed the petitions.

On Feb. 7, 2021, Seadrill GCC Operations Ltd., Asia Offshore
Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2
Limited, and Asia Offshore Rig 3 Limited sought Chapter 11
protection. Seadrill GCC estimated $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

Additionally, on Feb. 10, 2021, Seadrill Limited and 114 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code with the Court. The lead case
is In re Seadrill Limited (Bankr. S.D. Tex. Case No. 21-30427).

Seadrill Limited disclosed $7.291 billion in assets against $7.193
billion in liabilities as of the bankruptcy filing.

In the new Chapter 11 cases, the Debtors tapped Kirkland & Ellis
LLP as counsel; Houlihan Lokey, Inc. as financial advisor; Alvarez
& Marsal North America, LLC as restructuring advisor; Jackson
Walker LLP as co-bankruptcy counsel; Slaughter and May 2021 as
co-corporate counsel; Advokatfirmaet Thommessen AS as Norwegian
counsel; and Conyers Dill & Pearman as Bermuda counsel.  Prime
Clerk LLC is the claims agent.

On April 9, 2021, the board of directors of Debtor Seadrill North
Atlantic Holdings Limited unanimously adopted resolutions
appointing Steven G. Panagos and Jeffrey S. Stein as independent
directors to the board. Seadrill North Atlantic Holdings Limited
tapped Katten Muchin Rosenman LLP as counsel and AMA Capital
Partners, LLC as financial advisor at the sole direction of
independent directors.


SEAWORLD PARKS: Moody's Rates New Senior Unsecured Notes 'Caa1'
---------------------------------------------------------------
Moody's Investors Service assigned SeaWorld Parks & Entertainment,
Inc.'s proposed senior unsecured notes a Caa1 rating. All other
ratings including the B2 corporate family rating and Ba3 senior
secured rating are unchanged. The stable outlook also remains
unchanged.

Moody's had previously upgraded SeaWorld's CFR to B2 and assigned a
Ba3 rating to the new senior secured credit facility (including a
revolving credit facility and term loan B) on August 6, 2021. Net
proceeds of the new senior unsecured notes and the previously
announced term loan B will be used to refinance the existing senior
secured term loan and senior secured 2nd priority notes. The
transaction extends the debt maturity profile and reduces interest
expense while debt levels remain largely unchanged.

Moody's expects SeaWorld will maintain a good liquidity position to
manage through the remainder of the pandemic with $514 million of
pro forma cash on the balance sheet as of Q2 2021 and an undrawn
$385 million revolving credit facility. SeaWorld's Speculative
Grade Liquidity (SGL) rating is unchanged at SGL-2. The rating on
the existing senior secured credit facility and senior secured 2nd
priority notes will be withdrawn after repayment.

Assignments:

Issuer: SeaWorld Parks & Entertainment, Inc.

Senior Unsecured Regular Bond/Debenture, Assigned Caa1 (LGD5)

RATINGS RATIONALE

The B2 CFR reflects Moody's view that SeaWorld's revenue and EBITDA
will continue to improve substantially over the remainder of 2021
as health restrictions ease and allow for higher capacity at its
amusement parks. SeaWorld is recovering from the severe impact of
the pandemic on the company's portfolio of parks which led to
negative EBITDA in 2020 and higher debt levels. SeaWorld has
concentrated exposure to five different states in the US, but less
restrictive health requirements benefited performance at its parks
in Florida (which is its largest market with five parks) and
Texas.

SeaWorld's parks in Orlando face competition from destination
parks, although the company has focused on attracting guests from
nearby markets in recent years. Guest traffic from international
customers is likely to take longer to recover due to the effects of
the pandemic on travel but represent a relatively small portion of
overall attendance. SeaWorld also competes for cyclical
discretionary consumer spending from an increasingly wide variety
of other leisure and entertainment activities.

SeaWorld benefits from its portfolio of parks in key markets
including SeaWorld, Busch Gardens, and Sesame Place as well as
separately branded parks that typically generate meaningful annual
attendance. SeaWorld faces negative publicity due to its orca
attractions, but performance improved materially prior to the
pandemic after several years of declines and the company has taken
steps to address the issue. Ongoing cost efficiency and new revenue
initiatives should support performance as the pandemic subsides,
although a portion of the gains are likely to be offset by higher
wages for park employees. Significant expenditures on new rides and
attractions prior to the pandemic and additional spending going
forward will support the recovery in performance.

Moody's analysis has considered the effect on the performance of
leisure and entertainment spending from the economic recession in
the U.S. and a gradual recovery for the coming months. Although an
economic recovery is underway, it is tenuous and its continuation
will be closely tied to containment of the virus. As a result, the
degree of uncertainty around Moody's forecasts is unusually high.
Moody's regards the coronavirus outbreak as a social risk under
Moody's ESG framework, given the substantial implications for
public health and safety.

A governance impact that Moody's considers is the resignation of
SeaWorld's past two CEOs after a brief tenure with the company. The
former CFO, who has been with the Company for over 20 years in
various roles, was recently appointed as the CEO after acting as
the as interim CEO since April 2020. SeaWorld is a publicly traded
company listed on the NYSE.

The stable outlook reflects Moody's expectations that results will
continue to improve significantly during SeaWorld's peak summer
operating season and benefit from reduced capacity restrictions,
although a lingering pandemic poses some uncertainty over the pace
of recovery and performance in 2021. SeaWorld's substantial
exposure to markets that have pursued less restrictive health
requirements should also support performance. SeaWorld's free cash
flow (FCF) turned positive as of LTM Q2 2021 and Moody's projects
FCF will improve further in 2021. While leverage levels are
currently very high (9.8x as of Q2 2021), leverage is projected to
decline to the 5x range by the end of 2021 driven by a recovery in
profitability.

SeaWorld's SGL-2 reflects $514 million of pro forma cash on the
balance sheet as of Q2 2021 and an undrawn $385 million revolver
due 2026. Moody's expects cash flow to increase significantly with
FCF as a percentage of debt in the low teens in 2021. SeaWorld
spent $195 million on capex in 2019 on new rides and attractions,
but only $109 million in 2020. Capex is expected to increase to the
$120 to $150 million range in 2021. The large number of new rides
and attractions from capex prior to the pandemic as well as new
attractions going forward are likely to support a recovery in
attendance in 2021 and 2022. The parks are divisible and could be
sold individually, but all of the company's assets are pledged to
the credit facility and asset sales trigger 100% mandatory
repayment if proceeds are not reinvested within 12 months.

The term loan is covenant light, but the revolver is expected to be
subject to a springing maximum first lien secured leverage covenant
ratio when greater than 35% is drawn.

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

SeaWorld's ratings could be upgraded if the parks were operated as
scheduled without an ongoing impact from the pandemic and Moody's
expected leverage to be maintained below 5x. Comfort that there are
not any significant legislative, regulatory, or activist actions
that would materially impact operations would also be required. A
good liquidity position would also be required in addition to
confidence that the company would maintain a financial policy
consistent with a higher rating level.

The ratings could be downgraded if Moody's expected leverage to be
sustained above 6.5x or the EBITDA to interest ratio was maintained
below 2x. A weakened liquidity position may also lead to negative
rating pressure.

SeaWorld Entertainment, Inc., through its wholly-owned subsidiary,
SeaWorld Parks & Entertainment, Inc. (SeaWorld), own and operate
twelve theme park and water parks located in the US. Properties
include SeaWorld and Aquatica (Orlando, San Diego and San Antonio),
Busch Gardens (Tampa and Williamsburg), Discovery Cove (Orlando)
and Sesame Place (Langhorne, PA in addition Aquatica San Diego is
expected to be rebranded as the Company's second Sesame Place park
in 2022). The Blackstone Group acquired SeaWorld in 2009 in a
leverage buyout for $2.4 billion (including fees). SeaWorld
completed an initial public offering in 2013 and Blackstone exited
its ownership position in 2017. SeaWorld's revenue was
approximately $872 million as of LTM Q2 2021.

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


SEAWORLD PARKS: S&P Rates New $825MM Senior Unsecured Notes 'B-'
----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '6'
recovery rating (0% rounded estimate) to SeaWorld Parks &
Entertainment Inc.'s proposed $825 million of senior unsecured
notes due 2029. The company plans to use the proceeds from these
proposed notes, in addition to its proposed term loan issuance and
cash on hand, primarily to repay its ($1.485 million outstanding)
existing term loan B due 2024 and $489 million of second-lien
senior secured notes (including call premiums) due 2025.



SENIOR HEALTHCARE INC: C Store Seeks Prohibition to Cash Access
---------------------------------------------------------------
C Store, Inc. asked the U.S. Bankruptcy Court for the District of
Maryland to prohibit Senior Healthcare, Inc. from using its cash
collateral.

C Store related that the Debtor in October 2017 entered into two
loan transactions with C Store pursuant to:

   (a) a Commercial Deed of Trust Note and Amortization for
$174,000 to purchase a parcel of real property located at 428
Northwest Drive, in Silver Spring, Maryland.  The First Note is
secured by a Purchase Money Commercial Deed of Trust against the
Property. The First Deed of Trust contains an assignment of rents
and profits; and

   (b) a Commercial Deed of Trust Note and Amortization for
$151,000, evidenced by a Commercial Deed of Trust Note (the Second
Note) also to finance the purchase of the Property.  The Second
Note is secured by a Second Deed of Trust against Property.  The
Second Deed of Trust also contains an assignment of rents.

Pursuant to the Deeds of Trust and assignment of rents and profits,
C Store holds a properly perfected security interest in Debtor's
revenues derived from the leases and any rents, profits, and income
from the Property.  Accordingly, C Store asserts a lien on the cash
collateral derived from the Debtor's leases and rents.

C Store further related that in April 2019, the Debtor defaulted on
its obligations on the loans. As of the Petition Date, the Debtor
owes C Store on both loans a cumulative amount of at least
$467,242, excluding post-petition interest and attorneys' fees and
costs.  Since the Petition Date, the Debtor has made no adequate
protection payments or other payments to C Store.  

C Store does not consent to the Debtor's use of Cash Collateral,
and asked the Court to:

  * enter an order prohibiting the Debtor's use, sale, or lease of
C Store's Cash Collateral; or alternatively,

  * condition the use, sale or lease of the cash collateral --
should the Court not prohibit the use of C Store's Cash Collateral
-- as is necessary to provide adequate protection to C Store,
including ordering the Debtor to begin making adequate protection
payments to C Store.

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

                   About Senior Healthcare, Inc.

Senior Healthcare, Inc. operates an assisted living facility in
Silver Spring, Maryland.  The Debtor filed a Chapter 11 petition
(Bankr. D. Md. Case No. 21-15037) on August 2, 2021.

On the Petition Date, the Debtor estimated $500,000 to $1,000,000
in assets and $100,000 to $500,000 in liabilities.  The petition
was signed by Rajendra B. Shrestha, its president.  Judge Thomas J.
Catliota is assigned to the case.  The Debtor is represented by
Steven H. Greenfeld, Esq. at Cohen, Baldinger & Greenfeld, LLC.  

The firm may be reached at:

  Steven H. Greenfeld, Esq.
  Cohen, Baldinger & Greenfeld, LLC
  2600 Tower Oaks Blvd., Suite 290
  Rockville, MD 20852
  Telephone: (301)881-8300
  Email: steveng@cohenbaldinger.com

Counsel for C Store, Inc., lender:

   Justin P. Fasano, Esq.
   McNamee Hosea, P.A.
   6411 Ivy Lane, Suite 200
   Greenbelt, MD 20770
   Telephone: (301) 441-2420
   Email: jfasano@mhlawyers.com


SEVERIN HOLDINGS: S&P Alters Outlook to Positive, Affirms 'B-' ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook on K-12 software education
provider Severin Holdings LLC to positive from stable and affirmed
its 'B-' issuer credit rating and 'B-' rating on its first-lien
secured debt. S&P withdrew its 'CCC' rating on its second-lien
secured debt as this debt has been prepaid. S&P expects to move its
issuer credit rating to the company's new legal reporting entity,
Powerschool Holdings Inc., shortly after this ratings action.

The positive outlook reflects S&P's view that the demand for the
company's software and services will remain robust over the next
year, ultimately leading to about 10% organic annual revenue growth
and free cash flow to debt approaching the
high-single-digit-percentage area by 2022.

Powerschool should benefit from favorable industry trends. S&P
believes Powerschool's student information services (SIS),
enterprise resource planning (ERP), and learning management systems
(LMS) should all grow over the next year as more K-12 schools
invest in technology. The COVID-19 pandemic highlighted the need
for greater technology investment in many schools as students and
teachers were suddenly forced to move to online and hybrid
learning. Powerschool is the market leader in SIS, and has leading
market share positions in LMS (through its Schoology acquisition in
2019) and in ERP for school faculty (through its PeopleAdmin merger
in 2018). Currently, much of the market is underpenetrated as
education has been a laggard to technology adoption, but S&P
expects this to start changing over the next few years. There is
increased focus from the federal government on education spending,
as evidenced by President Biden's proposed 41% increase to the
Department of Education's fiscal 2022 budget. Certain portions of
the budget, such as Title IV funding, are allocated to investments
in the effective use of technology. Powerschool's organic portfolio
and recent acquisitions in related K-12 administrative products put
it in a favorable position to capture growth. In addition,
Powerschool continues to heavily invest in R&D and capitalized
development costs (about 30% of annual revenue) to maintain its
leading market positions against mostly regional competitors as
well as to create new software products that better bundle together
existing offerings.

S&P said, "The positive outlook reflects our expectation that the
company will continue to benefit from favorable industry trends as
more K-12 schools embrace digital transformation initiatives. We
expect organic revenue growth to be in the 8% to 12% range over the
next few years, with S&P Global Ratings adjusted EBITDA margins
fairly consistent in the low- to mid-20% range. We also expect free
cash flow to debt to improve to the high-single-digit-percentage
range in 2022 as the company benefits from a full year of lower
interest expense burden and the drop-off in IPO deal payments (we
estimate these costs to be $30 million). We expect the company to
continue to maintain its leading market positions within K-12 SIS,
ERP, and LMS, ultimately leading to very strong net revenue
retention rates close to 100%.

"We would revise the outlook to stable if we believe free cash flow
to debt will remain in the low-single-digit-percentage area. This
could occur with higher expenses than expected into R&D and
capitalized development costs in order to unify several Powerschool
software products. This could also occur with sustained elevated
integration costs or with the growth demand environment for
Powerschool's software diminishing. We could also revise the
outlook to stable if the TRA gets settled with debt and this
results in leverage sustained above 7x and FOCF to debt under 5%.

"We would upgrade the rating with an expectation of FOCF to debt to
be sustained over 5% and continued deleveraging through earnings
growth. Continued product diversity and growth coming from all of
its major selling categories would also be viewed positively."


SHAAN AND KHAN: Seeks to Tap Pope Law Firm as Legal Counsel
-----------------------------------------------------------
Shaan and Khan, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Texas to employ The Pope Law Firm to
serve as legal counsel in its Chapter 11 case.

The firm's services will include:

     a) advising the Debtor with respect to its duties under the
Bankruptcy Code;

     b) preparing and filing legal papers;

     c) representing the Debtor at the first meeting of creditors
and providing other services required during the course of its
bankruptcy proceedings;

     d) representing the Debtor in all proceedings before the
bankruptcy court and in any other judicial or administrative
proceeding where the rights of the Debtor may be litigated or
otherwise affected;

     e) preparing a Chapter 11 plan of reorganization; and

     f) assisting the Debtor in matters relating to or arising out
of its bankruptcy case.

The firm's services will be provided mainly by James Pope, Esq.,
who will be paid at the rate of $400 per hour.  In addition, the
Debtor will reimburse the firm for work-related expenses incurred.

James Pope, Esq., at The Pope Law Firm, disclosed in court filings
that he is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

The attorney can be reached at:
   
     James Q. Pope, Esq.
     The Pope Law Firm
     5151 Katy Freeway 306
     Houston, TX 77007
     Telephone: (713) 449-4481
     Email: jamesp@thepopelawfirm.com

                     About Shaan and Khan Inc.

Shaan and Khan, Inc. sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Case No. 21-32277) on
July 5, 2021, listing as much as $1 million in both assets and
liabilities.  Judge Marvin Isgur oversees the case.  James Q. Pope,
Esq., at The Pope Law Firm, represents the Debtor as legal counsel.


SHAKY TOWN: Unsecured Creditors to Get $12,500 Per Year for 5 Years
-------------------------------------------------------------------
Shaky Town Express, LLC, submitted a Corrected Second Amended Plan
of Reorganization under Subchapter V which proposes to pay
creditors of the Debtor with all of the projected disposable income
of the Debtor for a 60 month period.

The Debtor filed for Chapter 11 bankruptcy protection on October
14, 2020. The Debtor is a Minnesota limited liability company that
owns and operates trucks and trailers and is in the shipping
business. The Debtor has seen business decline due to the pandemic,
fluctuating rates, and fell behind on its bills. The Debtor also
has various trucks and trailers that are no longer needed and will
be returned to the secured creditors in due course. The Debtor
feels it will be able to reorganize under bankruptcy protection.

Class 1 consists of the allowed secured claim of TCI. TCI filed a
UCC Financing Statement on March 31, 2016 claiming a blanket
security interest in all assets of the Debtor in the approximate
amount of $223,000. TCI shall retain its existing lien, limited to
prepetition property only and proceeds thereof, with the same
dignity, scope, and priority, until its allowed secured claim is
paid in full.

Class 2 consists of the allowed secured claim of CCGI in the amount
of $102,500.00. CCGI's allowed secured claim is secured by liens
against the CCGI Collateral. The Debtor shall make 60 equal monthly
installment payments to CCGI of $1,981.61 commencing on the
Effective Date to satisfy the allowed secured claim. Interest will
accrue on the unpaid balance at the simple interest rate of 6.0%
per annum.

Class 3 consists of the allowed secured claim of Amur Equipment
Finance, Inc. The Debtor shall pay Amur for the collateral the fair
market value of $85,000.00, which the Debtor will repay in monthly
installments of $1,604.06 over 60 months, with the first payment
being due on the Effective Date. Interest will accrue on the unpaid
balance at the simple interest rate of 5.0% per annum.

Class 4 consists of the allowed secured claim of BMO Harris Bank,
N.A. The Debtor shall pay BMO Harris for the collateral the fair
market value of $50,000.00, which the Debtor will repay in monthly
installments of $943.56 over 60 months, with the first payment
being due on the Effective Date. Interest will accrue on the unpaid
balance at the simple interest rate of 5.0% per annum.

Class 5 consists of the allowed secured claim of All Wheels
Financial. The Debtor shall pay All Wheels for the collateral the
fair market value of $70,000.00, which the Debtor will repay in
monthly installments of $1,320.98 over 60 months, with the first
payment being due on the Effective Date to satisfy the allowed
secured claim. Interest will accrue on the unpaid balance at the
simple interest rate of 6.0% per annum.

Class 6 consists of Red Target LLC dba SCJ Commercial Financial
Services Secured Claim. Class 6 consists of the allowed secured
claim of Red Target LLC dba SCJ Commercial Financial Services. SCJ
has a secured lien against three auxiliary power units. The Debtor
shall pay SCJ for the collateral the fair market value of
$4,500.00, which the Debtor will repay $2,500.00 on the Effective
Date, and $2,000.00 45 days after the Effective Date.

Class 7 consists of all the general unsecured claims against the
Debtor. The Debtor estimates the total pool of allowed general
unsecured claims to be $192,505.70. In satisfaction of such claims,
each Holder of a Class 7 claim shall receive its pro rata share of
$12,500.00 per year on the first, second, third, and fourth year
anniversaries of the Effective Date, for a total of five payments.

Class 8 consists of Equity Holders of the Debtor. The principals of
the Debtor will retain their ownership interest in the Debtor.

A full-text copy of the Second Amended Plan of Reorganization dated
August 10, 2021, is available at https://bit.ly/3sgPOpC from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     John D. Lamey III, Esq., Atty ID:0312009
     980 Inwood Ave N
     Oakdale, MN 55128
     651-209-3550
     Fax 651-789-2179

                   About Shaky Town Express

Shaky Town Express LLC is a Minnesota limited liability company
that owns and operates trucks and trailers and is in the shipping
business. It sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 20-32409) on October 14,
2020.

Judge William J. Fisher oversees the case.

John D. Lamey III, Esq. of LAMEY LAW FIRM, P.A., serves as counsel
to the Debtor.


SOURCE HOTEL: Reid & Wise Represents EB5 Investors
--------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Reid & Wise LLC submitted a verified statement to
disclose that it is representing the EB5 Investors in the Chapter
11 cases of The Source Hotel, LLC.

On August 10, 2021, certain holders of Class B Units of membership
in BOH3 retained Reid & Wise LLC to represent them in connection
with the above captioned chapter 11 case. At that time, Reid & Wise
was already representing certain holders of Class B Units of
membership in BOH in the above captioned chapter 11 case.  The EB5
Investors have agreed to act in concert to advance their common
interests.

Reid & Wise represents only the EB5 Investors set forth below. Reid
& Wise does not serve as counsel to BOH or BOH3, which are
currently controlled by Donald Chae and Min Chae due to the
Guarantors' indirect ownership of Class A Units of membership in
both BOH and BOH3. However, the EB5 Investors hold disclosable
economic interests in relation to the Debtor as a result of their
ownership of Class B Units of membership. The names of the EB5
Investors as well as the amount of their economic interests based
on their capital contribution, is as follows:

                                   Capital Contribution
                                   --------------------

Jian Hua                                 $500,000
Jun Liu                                  $500,000
Haiyuan Ma                               $500,000
Rui Bai                                  $500,000
Haiyan Du                                $500,000
Yijian Jiang                             $500,000
Lei Liang                                $500,000
Yi Wan                                   $500,000
Yue Wang                                 $500,000
Galu Wulan                               $500,000
Yan Xing                                 $500,000
Shuan Ye                                 $500,000
Jianyao Zhang                            $500,000
Jing Zhang                               $500,000

Nothing contained herein shall constitute a waiver or release of
any claims against any party, or, an admission with respect to any
fact or legal theory.

Counsel for the EB5 Investors can be reached at:

          REID & WISE LLC
          Robert K. Lu, Esq.
          633 West 5th Street, 26th Floor
          Los Angeles, CA 90071
          Tel: 619-300-1849
          Email: rlu@reidwise.com

          Edward Wu, Esq.
          REID & WISE LLC
          One Penn Plaza, Suite 2015
          New York, NY 10119
          Tel: (212) 858-9968
          Email: ewu@reidwise.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://bit.ly/3yI5cxz

                    About The Source Hotel

The Source Hotel, LLC owns a four-star, full-service Hilton Hotel
development located in Buena Park, Calif.

The Source Hotel sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 21-10525) on Feb. 26,
2021.  Donald Chae, manager, signed the petition.  In the petition,
the Debtor disclosed assets of between $50 million and $100
million
and liabilities of the same range.

Judge Erithe A. Smith oversees the case.

Levene Neale Bender Yoo & Brill L.L.P. is the Debtor's legal
counsel.


SOUTHWESTERN ENERGY: Moody's Rates New Sr. Unsecured Notes 'Ba3'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to Southwestern
Energy Company's proposed senior unsecured notes. Southwestern's
other ratings, including its Ba2 Corporate Family Rating, and
stable outlook remain unchanged. Southwestern's new notes will be
issued as part of an exchange offer for the outstanding 5.375%
notes at Indigo Natural Resources LLC (Indigo, B1 CFR under review
for upgrade), which Southwestern is in the process of acquiring.
The exchange offer is subject to the consummation of the
acquisition, which is subject to Southwestern's shareholder
approval and is expected to close following its shareholder proxy
vote scheduled for August 27th.

Assignments:

Issuer: Southwestern Energy Company

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

RATINGS RATIONALE

The proposed and existing senior unsecured notes are rated Ba3, as
a result of the secured nature and priority claim of the ABL
revolver with $2 billion borrowing base. Due to the size of the
claim of the secured debt, the senior notes are rated one notch
beneath the Ba2 CFR.

Southwestern's Ba2 CFR is supported by its sizeable production and
reserves base, supportive hedges against downside risk, and lack of
sizeable near term debt maturities. Southwestern benefits from its
low cost structure and good capital efficiency which allow it to
continue to have supportive credit metrics in times of commodity
price volatility. Southwestern's proposed acquisition of Indigo
should also strengthen its leverage metrics and free cash flow
generation while adding to production and proved reserves. The
acquisition of Indigo is favorable as it adds higher margin
production and provides basin diversification. However,
Southwestern will remain challenged by its natural gas weighted
production profile (over 75% of expected production) and high
reserves concentration.

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

Moody's could consider an upgrade if Southwestern sustains retained
cash flow to debt over 35% and the leveraged full-cycle ratio
(LFCR) approaches 2x in a commodity price environment in the middle
of Moody's medium term price ranges. The Ba2 CFR could be
downgraded if the retained cash flow to debt ratio drops below 20%
or if LFCR falls below 1x for a sustained period.

Southwestern Energy Company is a US independent exploration and
production (E&P) company headquartered in Houston, Texas.

The principal methodology used in these ratings was Independent
Exploration and Production published in August 2021.


SPECTRUM LINK: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Spectrum Link, Inc.
        8221 3rd Street, Suite 204
        Downey, CA 90241

Business Description: Spectrum Link, Inc. --
                      https://spectrumlink.net -- is an internet
                      service provider in Downey, California.

Chapter 11 Petition Date: August 11, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-16403

Judge: Hon. Vincent P. Zurzolo

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

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

Estimated Liabilities: $10 million to $50 million

The petition was signed by Marilyn M. Adjangba as chief executive
officer.

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

https://www.pacermonitor.com/view/UFM6ENY/Spectrum_Link_Inc__cacbke-21-16403__0001.0.pdf?mcid=tGE4TAMA


SYNRGY CORP: Case Summary & 12 Unsecured Creditors
--------------------------------------------------
Debtor: Synrgy Corp., a Nevada corporation
           FDBA Yaboo, Inc.
        108 Western Maryland Parkway
        Hagerstown, MD 21740

Business Description: Synrgy's principal business at present is
                      serving as a holding company for its wholly-

                      owned subsidiary, Acembly, Inc.

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-16469

Debtor's Counsel: M. Douglas Flahaut, Esq.
                  ARENT FOX LLP
                  555 West Fifth Street, 48th Floor
                  Los Angeles, CA 90013-1065
                  Tel: 213-629-7400
                  Fax: 213-629-7401
                  E-mail: Douglas.Flahaut@arentfox.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeff Bearden as chief executive
officer.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 12 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/GAWOILY/Synrgy_Corp_a_Nevada_corporation__cacbke-21-16469__0001.0.pdf?mcid=tGE4TAMA


TGS HOSPITALITY: $200K Infusion to Release Equity Holders in Plan
-----------------------------------------------------------------
TGS Hospitality, LLC and Sage EcoEnterprises, LLC and filed with
the U.S. Bankruptcy Court for the Western District of North
Carolina an Amended Joint Plan of Reorganization dated August 6,
2021.  

The Joint Plan contemplates that distributions will be funded by
revenues generated during the Debtors' post-petition operations,
the Reorganized Debtor's future revenue, and the new capital
contributions of the holders of the Equity Interests in the Debtors
to be paid on or before the Effective Date.  TGS owns and operates
a Green Sage Cafe in Asheville, North Carolina. Sage owns and
operates three restaurants in the Asheville location.   

Upon the Confirmation Date, and in consideration for voluntarily
contributing $200,000 for the payment of others' Claims under the
Plan, the holders of the Equity Interests in the Debtors shall be
released and discharged of any liability related to the operation
of the Debtors and/or their debts.

Through the joint Plan, the Debtors intend to substantively
consolidate and restructure their secured debts based on the value
of the applicable creditors' collateral.  Subject to occurrence of
the Effective Date, the assets and liabilities of the Debtors shall
be pooled and all allowed Claims shall be satisfied from the assets
of a single consolidated estate.

Classes and Treatment of Claims and Interests in the Plan

  * Class 1 Allowed Secured Tax Claims

Each holder of an Allowed Secured Tax Claim shall be paid the
Allowed Amount of its Class 1 Claim, at the option of the
Reorganized Debtor: (a) in full, in Cash, on the Effective Date or
as soon as practicable thereafter; (b) upon such other terms as may
be mutually agreed upon between the Class 1 Claim holder and the
Reorganized Debtor; or (c) in equal, annual Cash payments, plus
interest,  starting the year following the Effective Date, within
five years from the Petition Date.

  * Class 2 First Allowed Secured Claim of Truist (Note 1)

  * Class 3 Second Allowed Secured Claim of Truist (Note 7)

  * Class 4 Third Allowed Secured Claim of Truist (Note 8)  

The Debtors are jointly obligated on a series of secured loans,
evidenced by the currently outstanding notes, from Truist Bank,
formerly known as Branch Banking and Trust Company.  The secured
loans encumber essentially all of the Debtors' operating assets.
Allowed Claims in Classes 2, 3 and 4 shall be treated as a fully
secured obligation of the Reorganized Debtor, including any
interest, fees, or charges allowed under Section 506(b) of the
Bankruptcy Code, less any adequate protection payments made on such
Claim during the Chapter 11 cases. The resulting amount in each of
Class 2, Class 3 and Class 4 shall be paid to Truist within 90 days
of the Effective Date in full satisfaction of the Claims.

  * Class 5 Allowed Secured Claim of SBA

Class 5 consists of the Allowed Secured Claim of the SBA.  This
Claim shall be treated as a secured obligation of the Reorganized
Debtor for $150,000 or such lesser principal amount as is stated in
any allowed, timely proof of claim filed by the SBA, less any
adequate protection payments made on such Claim during the Chapter
11 Cases. Payments on the allowed Class 5 Claim shall begin in May
2022, in equal monthly installments of principal and interest due
on the 15th date of each successive month, with interest at 3.75%
per annum, over 360 months with no prepayment penalty.

  * Class 6 Allowed Other Priority Claims

Class 6 consists of all Allowed Other Priority Claims.  These
Claims shall be treated as unsecured obligations of the Reorganized
Debtor. Each holder of an Allowed Class 6 Claim shall be paid the
allowed amount at the option of the Reorganized Debtor: (a) in
full, in Cash, on the Effective Date or as soon as practicable
thereafter; (b) upon such other terms as may be mutually agreed
upon between such holder of an Allowed Other Priority Claim and the
Reorganized Debtor; or (c) in annual Cash payments such that the
full amount of each Allowed Class 6 Claim is paid in full within
three years from the Effective Date. Payments under option (c)
shall be made on or before each applicable anniversary of the
Effective Date.

  * Class 7 Allowed Administrative Convenience Claims

Class 7 consists of all Allowed General Unsecured Claims in amounts
of $1,000 or less each.  These Claims shall be treated as unsecured
obligations of the Reorganized Debtor. Each holder of an Allowed
Class 7 shall be paid the allowed amount of its Administrative
Convenience Claim as of the Petition Date in full within 60 days
after the Effective Date. Any Administrative Convenience Claim to
which an objection is made shall be treated in Class 8 if
subsequently allowed by Final Order of the Bankruptcy Court.

  * Class 8 Allowed General Unsecured Claims

Class 8 consists of all Allowed General Unsecured Claims in amounts
greater than $1,000 each, including all allowed Unsecured
Deficiency Claims.  These Claims shall be treated as unsecured
obligations of the Reorganized Debtor. Each holder of an Allowed
Class 8 Claim will receive a Pro Rata Share of $110,000 up to the
full amount of its Allowed Class 8 Claim on or before December 31,
2025, and a like Pro Rata Share of $16,132 on or before December
31, 2026.

  * Class 9 Allowed Filed Wage Litigation Claims (Pecuniary Loss
Portion)

These Claims shall be treated as unsecured obligations of the
Reorganized Debtor. Each holder of an Allowed Class 9 Claim will
receive the full amount of that portion of its Claim attributable
to actual pecuniary loss as of the Petition Date in two equal
installments. The first installment shall be paid on or before
December 31, 2023. The second installment shall be paid on or
before December 31, 2024.

  * Class 10 Allowed Filed Wage Litigation Claims (Non-Pecuniary
Portion)

These Claims shall be treated as unsecured obligations of the
Reorganized Debtor subordinate to all Allowed Class 9 Claims. Each
holder of an Allowed Class 10 Claim will receive the full amount of
its Claim on or before December 31, 2026.

  * Class 11 Unfiled Wage Litigation Claims

These Claims may be treated as unsecured obligations of the
Reorganized Debtor. Each holder of a Class 11 Claim shall receive a
single payment of $500 from the Reorganized Debtor on or before
June 30, 2022, provided that any such holder of a Class 11 Claim
who executes and returns the Opt-Out Form within 21 days of the
Confirmation Date shall be deemed to have waived all Claims against
the Debtors, the Debtors in Possession, the Reorganized Debtor,
and/or their property, and shall receive no distributions under the
Plan.  However, a holder of an Unfiled Wage Litigation Claim who
timely returns an Opt-Out Form shall not be subject to the third
party release.

  * Class 12 Equity Interests in the Debtor

All Equity Interests in the Debtors held prior to the Petition Date
shall be retained in the Reorganized Debtor.

A copy of the Amended Joint Plan is available for free at
https://bit.ly/3AFSq3t from PacerMonitor.com.

Counsel for the Debtors:

   Richard S. Wright, Esq.
   Moon Wright & Houston, PLLC
   121 West Trade Street, Suite 1950
   Charlotte, NC 28202
   Telephone: (704) 944-6560
   Telephone: (704) 944-6564 (Direct)
   Facsimile: (704) 944-0380
   E-mail: rwright@mwhattorneys.com

                       About TGS Hospitality

TGS Hospitality LLC, a North Carolina limited liability company
that operates one restaurant in Asheville, North Carolina under the
name Green Sage Cafe, filed a petition under Subchapter V of
Chapter 11 (Bankr. W.D.N.C. Case No. 21-10073) on April 20, 2021.
In the petition signed by James R. Talley, member manager, the
Debtor disclosed total assets at $177,270 and total liabilities at
$1,043,155.  Judge George R. Hodges is assigned to the case.  Moon
Wright & houston, PLLC is the Debtor's counsel.


THUNDERBIRD GLOBAL: Taps Roetzel & Andress as Special Counsel
-------------------------------------------------------------
Thunderbird Global Development, LLC received approval from the U.S.
Bankruptcy Court for the District of Arizona to hire Roetzel &
Andress, LPA as special counsel.

The Debtor needs legal assistance in connection with the appeal
pending in the Seventh District Court of Appeals in the case Joseph
H. Hamm, et al., v. Lorain Coal and Dock Company, et al., Case Nos.
20 BE 0028 and 20 BE 0030.

The firm's hourly rates are as follows:

     Sara Fanning, Esq.  $300 per hour
     Attorneys           $200 to $350 per hour
     Legal Assistants    $100 to $175 per hour

As disclosed in court filings, Roetzel & Andress is disinterested
and has no connection with creditors and any other party in
interest or their respective attorneys.

The firm can be reached through:

     Sara Fanning, Esq.
     Roetzel & Andress, LPA
     41 South High Street
     Huntington Center, 21st Floor
     Columbus, OH 43215
     Direct Dial: 614-723-2097
     Phone: 614-463-9770
     Fax: 614-463-9792
     Email: sfanning@ralaw.com

                About Thunderbird Global Development

Scottsdale, Ariz.-based Thunderbird Global Development, LLC filed
its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 21-03962) on May 20,
2021.  In the petition signed by Christopher E. Banik, managing
member, the Debtor disclosed total assets of up to $50,000 and
total liabilities of up to $10 million.  

Judge Daniel P. Collins oversees the case.  

Hauf Law, PLC and Roetzel & Andress, LPA serve as the Debtor's
bankruptcy counsel and special counsel, respectively.


TOWNE & TERRACE: Unsecureds to Get Share of Income for 3 Years
--------------------------------------------------------------
Towne & Terrace Corp. filed with the U.S. Bankruptcy Court for the
Southern District of Indiana a Subchapter V Plan of Reorganization
dated August 10, 2021.

The Debtor commenced this case to utilize the streamlined process
of Subchapter V of the Bankruptcy Code to resolve prepetition
lawsuits, restructure its debts, and implement a postpetition plan
to ensure the ongoing beautification and maintenance of the Common
Area of the Towne & Terrace Development.

Since the commencement of the case, the Debtor has continued to
operate in the ordinary course of business, collecting assessments
and maintaining the Common Area. The Debtor also attempted to
resolve the issues related to its litigation with the City and Tina
Williams, but was unable to do that before the Plan filing
deadline.

The term of the Plan begins on the Effective Date and continues for
a period of 3 years. During the term of the Plan, all of the
Debtor's projected Disposable Income will be applied to the payment
of Allowed Claims in accordance with their treatment under the
Plan. The Debtor projects that during the term of the Plan it will
have Disposable Income of approximately $90,000 to make payments to
creditors, but in no event will a creditor receive more under the
Plan than the amount of its Allowed Claim. All distributions will
be made directly by the Debtor.

The Debtor does not have any secured lenders, and it did not
schedule any secured claims and no creditor filed a proof of claim
asserting a secured claim by the general claims bar date.
Accordingly, the Debtor has not classified any secured Claims in
the Plan and does not believe there will be any Allowed secured
Claims.

Holders of Allowed Priority Claims will be paid in full on the
Effective Date or 30 days after entry of a Final Order providing
for their allowance, unless the Debtor and the holder of such Claim
agree to different treatment. The Debtor estimates that the amount
of Allowed Priority Claims will be $130,000, which is comprised of
amounts incurred prior to the Effective Date by its bankruptcy
counsel, special counsel, and the Subchapter V trustee.

Class 2A consists of the Allowed unsecured Claim of The Estate of
Nataysia Williams (the "Williams Estate"). Because the Williams
Estate is entitled to a jury trial under 28 U.S.C. § 1411 with
respect to this Claim, a right that other unsecured creditors do
not have, this Claim is separately classified from other unsecured
Claims. The Debtor estimates that the claim of the Williams Estate
will not be Allowed, and that the amount of Class 2A Claims will be
$0. Because the cost to the Debtor to obtain that result through
litigation is unknown, however, the Debtor may in its business
judgment settle with the Williams Estate and consent to an Allowed
Claim in some amount to resolve this dispute.

Class 2B consists of all Allowed unsecured Claims other than the
Class 2A Allowed Claim. Beginning on the Effective Date, or on the
next Quarterly Distribution Date after a Class 2B Claim is Allowed,
and continuing on each Quarterly Distribution Date thereafter
during the term of the Plan, each Holder of an Allowed Class 2B
Claim will receive its pro rata portion of the Debtor's projected
Disposable Income after payment of Allowed Priority Claims. In the
absence of a Claim objection, the Debtor estimates that the amount
of Class 2B Claims will be $56,861.71, although the claims bar date
for governmental entities is not until November 8, 2021.

Class 3 consists of owners of residential units in the Towne &
Terrace Development that are subject to the Covenants, each of whom
is a member of the Debtor and has certain rights and obligations
under the Covenants. Nothing in the Plan alters or amends members'
rights under the Covenants. The Debtor's members will not receive
any distributions under the Plan.

Funds to make payments under the Plan will be generated through the
Debtor's cash on the Effective Date and its ongoing operations,
including the collection of current and future assessments from its
members, the collection of its accounts receivable, and the fixing
and liquidation of its claim against the City.

A full-text copy of the Subchapter V Plan dated August 10, 2021, is
available at https://bit.ly/3yNkNMx from PacerMonitor.com at no
charge.

Counsel for Towne & Terrace:

     Andrew T. Kight, Esq.
     Jacobson Hile Kight LLC
     108 E. 9th Street
     Indianapolis, IN 46202
     Tel: (317) 608-1130
     Email: akight@jhklegal.com

                    About Towne & Terrace Corp.

Indianapolis-based Towne & Terrace Corp. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No.
21-02161) on May 12, 2021.  Towne & Terrace President Josh
McDermott signed the petition.  In its petition, the Debtor
disclosed assets of $1,599,365 and liabilities of $59,594.  Judge
James M. Carr oversees the case.  Jacobson Hile Kight LLC is the
Debtor's legal counsel.


TREEHOUSE FOODS: S&P Lowers ICR to 'B+', Outlook Stable
-------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
TreeHouse Foods Inc. to 'B+' from 'BB-'. Concurrently, S&P lowered
issue-level ratings on the company's senior secured credit
facilities to 'BB' from 'BB+'. The recovery rating is '1',
indicating its expectations for very high (90%-100%; rounded
percentage: 95%) recovery in the event of a payment default. S&P
also lowered the rating on the unsecured notes to 'B+' from 'BB-'.
The recovery rating is '4', indicating its expectations for average
(30%-50%: 30% rounded estimate) recovery in a payment default.

S&P said, "The stable outlook reflects our expectation that the
company, absent sizable acquisitions, will maintain leverage in the
5x-5.5x area over the next year and will generate at least $225
million in free operating cash flow (FOCF).

"The downgrade reflects our expectation that operating performance
will be weaker than our prior forecast and that the company will
maintain leverage above 5x. For the 12-months-ended June 30, 2021,
we estimate adjusted leverage (pro forma for the Riviana
acquisition) increased to about 5.9x compared with about 4.9x for
the same period in 2020. The higher leverage reflects increased
debt from the $242.5 million Riviana acquisition in December 2020,
lower EBITDA from a weaker first half of 2021, and ongoing high
restructuring and integration charges. For the quarter, organic
revenues dropped about 7% as the company lapped a pantry loading
quarter in 2020, along with lower demand for private-label versus
branded products. We had expected low-single-digit organic revenue
growth to continue in 2021 because TreeHouse and other
private-label manufacturers did not experience the outsized growth
(high-single-digit to double-digit growth) in 2020 compared with
its branded rivals. Profitability suffered from higher input,
packaging, freight, and labor costs. We expect the company to
implement price increases, but it will not realize the full
benefits until fiscal 2022. Ongoing restructuring charges of about
$70 million for the first half of the year (will likely exceed $100
million for the full year) further depressed its EBITDA. This is
above our previous expectation of less than $70 million for the
full year. In our opinion, the restructuring charges--which have
persisted for years--indicate that there is still work to be done
to optimize its operating structure or product portfolio."

Private-label demand fell during the pandemic and has yet to
recover. Private-label trends were favorable before the pandemic.
However, trends reversed as government stimulus payments boosted
consumers' disposable income and food spending gained share of
consumers' wallets because restricted mobility-limited spending on
other discretionary items. At the onset of the pandemic, retailers
were focused on keeping shelves stocked and prioritized brands
because of their scale and reliable supply chains. These factors
led to market share gains for the branded packaged food companies
over private-label manufacturers. S&P expects demand for private
label to return if a recession occurs, government stimulus dollars
go away, or price gaps widen between brands and private label,
resulting in a more stressed consumer that will seek value.
However, it is unclear when these trends will reverse and enable
TreeHouse to restore at least low- to mid-single-digit organic
revenue growth. TreeHouse should be well-positioned to gain share
again given its scale and diverse product portfolio.

S&P said, "We expect the company will continue generating good cash
flow, but financial policies could be more aggressive. TreeHouse
has historically generated solid cash flow from operations. We
expect the company to generate $225 million-$250 million in free
cash flow in 2021 after about $140 million in capital expenditures
(capex). However, we believe the company will prioritize
opportunistic acquisitions over debt reduction based on
management's recent comments and involvement of its activist
investor, JANA Partners. As a result, we believe leverage could
remain higher than prior stated targets. Historically, we expected
the company to manage debt leverage in the 3x-3.5x range (reported
company leverage), which historically was around 4x-5x (S&P Global
Ratings'-adjusted). The company does not pay a dividend and has not
regularly repurchased shares, although share repurchase levels
increased in recent quarters.

"The stable outlook reflects our expectation that the company,
absent sizable acquisitions, will maintain leverage in the 5x-5.5x
area over the next year and will generate at least $225 million in
free operating cash flow (FOCF)."

S&P could lower ratings if the company sustains leverage above 6x.
S&P believes this could occur if:

-- Treehouse makes large, debt finance acquisitions or shareholder
returns;

-- Operating performance deteriorates because of supply chain
disruptions or market share losses, resulting in EBITDA margin
contraction of more than 150 bps compared with our 2022 forecast;
or

-- S&P unfavorably reassesses its view of the company's business
risk because revenue continues to decline or its portfolio
continues to require large annual restructuring costs that don't
yield meaningful margin improvement.

S&P said, "While unlikely over the next year, we could raise the
rating if the company improves its profitability, forgoes sizable
share repurchases or acquisitions, applies excess cash flow to debt
reduction, and reduces its annual restructuring costs, resulting in
leverage sustained below 5x. We believe this could occur with
sustained low-single-digit organic revenue growth and EBITDA margin
of at least 10%, from gaining market share and new customers."



URGENT CARE: Seeks to Hire Heling & Associates as Accountant
------------------------------------------------------------
Urgent Care Physicians, Ltd. seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Wisconsin to hire
Heling & Associates CPA's, LLC as its accountant.

The firm's services include:

     a. preparing and filing corporate tax returns;

     b. preparing excise tax forms as needed; and

     c. assisting with periodic bankruptcy reporting requirements
on an as-needed basis.

The rates for the firm's services range from $110 to $200 per
hour.

Kurt Heling, a certified public accountant and member of Heling &
Associates, disclosed in a court filing that his firm neither holds
nor represents any interest adverse to the interest of the Debtor's
bankruptcy estate.

The firm can be reached through:

     Kurt K. Heling, CPA
     Heling & Associates CPA's LLC
     1977 American Drive, Suite 202
     Neenah, WI 54956
     Phone: 920-886-2241
     Fax: 920-886-2244
     Toll Free: 888-929-9492
     Email: kurth@helingandassociates.com

                   About Urgent Care Physicians

Appleton, Wis.-based Urgent Care Physicians, Ltd. filed a Chapter
11 petition (Bankr. E.D. Wis. Case No. 21-24000) on July 15, 2021.
At the time of the filing, the Debtor had $268,370 in total assets
and $1,341,830 in total liabilities. Bobby B. Yun, president,
signed the petition.  Judge Beth E. Hanan oversees the case.
Steinhilber Swanson LLP serves as the Debtor's bankruptcy counsel.


VESTAVIA HILLS: Refutes Commonwealth's Objection to Disclosures
---------------------------------------------------------------
Debtor Vestavia Hills Ltd., d/b/a Mount Royal Towers, filed with
the U.S. Bankruptcy Court for the Southern District of California a
reply to the opposition filed by Commonwealth Assisted Living, LLC,
Series E to the Debtor's Disclosure Statement.

Commonwealth asserted that the Amended Plan is not confirmable, and
as a result, the Disclosure Statement cannot be approved.  Far from
being "unconfirmable" on its face, the Amended Plan proposes to pay
legitimate creditors 100 cents on the dollar, with interest, the
Debtor pointed out.

Commonwealth has asserted that the Amended Plan violates Section
1129(a)(3) and was filed purely for a litigation advantage.  
Commonwealth knows this statement is false, the Debtor averred
saying that the primary purpose of its Chapter 11 case has always
been to achieve a sale of the Mount Royal Towers facility which
Commonwealth's state court litigation was blocking without
bankruptcy relief, and ultimately until Commonwealth's terminated
purchase agreement was rejected.  The Debtor asserted that the
Plan, as amended, is fundamentally fair in its treatment of
creditors.  Not only does the Amended Plan propose to pay all
allowed claims in full, it also provides the means to deal with the
Commonwealth claim objections and litigation.  Fundamentally, a
100-cents-on-the-dollar payment plan is fair, reasonable and is not
in bad faith, the Debtor said.

Commonwealth argued that the Amended Plan violates 11 U.S.C.
Section 524(e).  Section 524(e) bars a bankruptcy court from
extending a debtor's discharge to non-debtor guarantors on the same
debt. There is no such extension of the Amended Plan's discharge
provisions. The Amended Plan does not seek to release the Limited
Partner guarantors, the Debtor said.

Commonwealth also objected that the Disclosure Statement lacks
information showing the ability of the Limited Partners to make the
payments to be called for in the plan and, as a result, cannot be
approved.  This contention, the Debtor said, is laughable as
demonstrated by the Limited Partners' unfailing financial support
provided to the Debtor throughout the Chapter 11 case.

A copy of the Debtor's reply is available for free at
https://bit.ly/2U6EAHw from PacerMonitor.com

A hearing on the matter is scheduled for August 26, 2021, at 2
p.m.

                     About Vestavia Hills Ltd.

Vestavia Hills, Ltd., which conducts business under the name Mount
Royal Towers, operates a continuing care retirement community and
assisted living facility for the elderly in Vestavia Hills, Ala. It
offers individualized senior living options for a convenient
community lifestyle and provides personalized nursing care.

Vestavia Hills sought Chapter 11 protection (Bankr. S.D. Cal. Case
No. 20-00018-11) on Jan. 3, 2020.  The Debtor disclosed $18,531,957
in assets and $29,742,790 in liabilities as of the bankruptcy
filing.  Judge Louise Decarl Adler oversees the case.  The Debtor
tapped Sullivan Hill Rez & Engel as its legal counsel and Harbuck
Keith & Holmes, LLC as its special Alabama licensing and regulatory
counsel.


VESTAVIA HILLS: Responds to Wells Fargo Disclosures Objection
-------------------------------------------------------------
Vestavia Hills Ltd., d/b/a Mount Royal Towers, filed with the U.S.
Bankruptcy Court for the Southern District of California a reply to
the objection of Wells Fargo Bank, N.A. to the Debtor's Disclosure
Statement.

The Debtor complained that several of the facts on which Wells
Fargo's objection is based are misleading.  According to the
Debtor, Wells Fargo did not loan $26,010,000 to the Debtor in 2005,
as Wells Fargo claims.  Rather, Wells Fargo acquired the Debtor's
loan from Wachovia Bank in 2005.

Wells Fargo contended that the Debtor's Amended Plan is not
confirmable and therefore, the disclosure statement cannot be
confirmed as it is "patently unconfirmable" or is "unconfirmable on
its face."  The Debtor averred that the plan as originally
proposed, and as amended, is far from being "unconfirmable on its
face" as the Amended Plan proposes to pay in full (a) all
outstanding costs of administration as of the Effective Date; (b)
almost $12 million to Wells Fargo through the sale closing; (c) the
balance owing to Wells Fargo on its undersecured/unsecured claim --
once determined by the Court -- within 24 months of the Effective
Date, with interest; and  (d) all undisputed unsecured claims
totaling approximately $250,000, with interest, within 24 months of
the Effective Date.  Moreover, the Amended Plan provides that in
the event that either Commonwealth Assisted Living, LLC, Series E
or the U.S. Small Business Administration are determined to have
valid claims against the estate, those claims will also be paid in
full, with interest, and will not diminish in amount nor delay the
payment of the other Classes of claims, including that of Wells
Fargo.

Wells Fargo objected that the Disclosure Statement lacks
information showing the ability of the Limited Partners to make the
payments required by the Debtor to its various creditor classes
under its Amended Plan and, as a result, cannot be approved.  This
statement, according to the Debtor, is pure hypocrisy, since Wells
Fargo knows better than anyone the ability of the Limited Partners
to make the payments called for in the Plan.  The Limited Partners
have supplied and will continue to provide Wells Fargo with
detailed financial statements on a monthly basis.  Moreover, the
Plan is structured such that the payment of Wells Fargo's claims
will not be altered or delayed regardless of the outcome of the
litigation described in the Disclosure Statement.

A copy of the Debtor's Reply is available for free at
https://bit.ly/3skxcVX from PacerMonitor.com

A hearing on the matter is scheduled for Aug. 26, 2021 at 2 p.m.

Counsel for the Debtor:

   James P. Hill, Esq.
   Christopher V. Hawkins, Esq.
   Kathleen Cashman-Kramer, Esq.
   Sullivan Hill Rez & Engel
     A Professional Law Corporation
   600 B Street, Suite 1700
   San Diego, CA 92101
   Telephone: (619) 233-4100
   Facsimile: (619) 231-4372
   Email: hill@sullivanhill.com
          hawkins@sullivanhill.com

                     About Vestavia Hills Ltd.

Vestavia Hills, Ltd., which conducts business under the name Mount
Royal Towers, operates a continuing care retirement community and
assisted living facility for the elderly in Vestavia Hills, Ala. It
offers individualized senior living options for a convenient
community lifestyle and provides personalized nursing care.

Vestavia Hills sought Chapter 11 protection (Bankr. S.D. Cal. Case
No. 20-00018-11) on Jan. 3, 2020.  The Debtor disclosed $18,531,957
in assets and $29,742,790 in liabilities as of the bankruptcy
filing.  Judge Louise Decarl Adler oversees the case.  The Debtor
tapped Sullivan Hill Rez & Engel as its legal counsel and Harbuck
Keith & Holmes, LLC as its special Alabama licensing and regulatory
counsel.


VESTAVIA HILLS: Unsecureds to be Paid Fully in 2 Years in Plan
--------------------------------------------------------------
Vestavia Hills, Ltd., filed with the U.S. Bankruptcy Court for the
Southern District of California a First Amended Chapter 11 Plan of
Reorganization and First Amended Disclosure Statement dated August
6, 2021.

The Plan is a liquidating plan that seeks to accomplish the sale of
the Debtor's significant operating assets.  The Plan also provides
for the continuing administration of the Estate, to collect and
distribute proceeds of other assets, and to receive and distribute
proceeds of funding from new equity in amounts sufficient to pay
all Allowed Creditor Claims.

The Plan is a 100-cent-on-the dollar payment plan, with holders of
Allowed General Unsecured claims being paid in full over two years
(24 months), if not sooner. The Debtor will sell certain of its
real and personal property assets consisting of its continuing care
retirement community, commonly known as Mount Royal Towers (MRT),
on real property currently owned by the Debtor located near
Birmingham, Alabama to a cash buyer.  The sale is expected to close
on or before October 31, 2021 to MED for a cash sales price of
$12,000,000.  

Under the Plan, the net proceeds of sale will be paid to Wells
Fargo in full satisfaction of its secured claim.  The remainder of
the Wells Fargo debt is separately classified in the Plan as the
Judgment Claim and is the only allowed, under-secured claim for
which the Debtor and Limited Partners have joint and several
liability.

The Debtor is able to offer General Unsecured Creditors a
payment-in-full plan solely based on the agreement by its Limited
Partners to provide essential additional new value funding as
provided in and subject to confirmation of the Plan.

On confirmation, two new corporate entities will be formed by the
Limited Partners -- New General Partner and the New Limited Partner
of the Reorganized Debtor.  The entities will be funded with
sufficient loans from the Limited Partners for the Reorganized
Debtor to: (i) make all payments required to be made on the
Effective Date of the Plan which is November 15, 2021; and (ii)
thereafter make all future payments on Allowed Claims of creditors
as required by the Plan.  Acting through the newly created
corporate entities, the Reorganized Debtor will borrow the amounts
necessary for the Reorganized Debtor to wind up various litigation
matters, perform all Plan obligations and close the Case.

Classes of Claims and Interest under the Plan

  * Class 1 Allowed Class 1 Secured Claim of Wells Fargo Bank,
N.A.

Class 1 consists of the Allowed Secured Claim of Wells Fargo in an
amount equal to the net proceeds to be received when the sale of
the Debtor Assets to MED closes.  The then due amount of the
secured portion of the Class 1 Secured Claim will be paid in full
by paying to Wells Fargo the net sales proceeds resulting from sale
of the Debtor Assets to MED directly out of escrow. Notwithstanding
any other provision of the Plan, the Class 1 Secured Claim of Wells
Fargo is not discharged.  The Class 1 Claimant is impaired.

  * Class 2 Allowed Class 2 Wells Fargo Section 506 Bifurcated
Judgment Claim

Class 2 consists of the unsecured portion of the Allowed partially
secured and partially unsecured Claim held by Wells Fargo.  The
Debtor believes that the under-secured Amount of the Wells Fargo
Judgment Claim is or will be equal to at least $2,500,000.  Class 2
Claim will be paid in full as follows: (i) monthly Cash payments of
$80,000 on the 15th day of each full calendar month remaining in
2021 following the Effective Date; and (ii) monthly Cash payments
of $165,000 per month beginning on January 15, 2022 and through and
including the 24th calendar month following the Effective Date
(October 2023), at which time the entire remaining unpaid balance
owing on the Class 2 Claim shall be paid in full in a balloon
payment to be made no later than October 31, 2023.

  * Class 3A Disputed Unsecured Commonwealth Claim

Class 3A consists of the Disputed Claim of Commonwealth.  This
Disputed Unsecured Commonwealth Claim is unliquidated and was filed
as a $0 (Zero) amount claim.  The Debtor said this Claim should not
be allowed as a Claim under the Plan.  Commonwealth has litigation
pending in the Bankruptcy Court against the Debtor. The Debtor and
Limited Partners intend to move for summary judgment in the
Commonwealth Case and believe they will be successful on the
motion. In the event the Debtor is successful on the motion for
summary judgment, or thereafter if a trial on the merits is
required, there will not be any Unsecured Commonwealth Claim.

  * Class 3B Disputed Unsecured SBA Claim

Class 3B Claim is based on SBA's claim for repayment of the
post-petition Paycheck Protection Program ("PPP") loan for
$1,138,105 that the Debtor received on July 2, 2020. The Debtor
believes that the entire amount of the PPP loan is subject to
applicable forgiveness rules, and it has applied for such
forgiveness.  Accordingly, the SBA should have no Claim against the
Debtor, and as such it will receive $0 (Zero) under the Plan.  To
the extent the Debtor is not successful in having the Unsecured SBA
Claim forgiven or disallowed, the Debtor will pay and satisfy the
SBA Claim as provided herein

If the SBA Claim is allowed, SBA will be paid 100% of its Allowed
Class 3B Claim in equal quarterly installments of principal and
interest over a five-year (60-month) period with simple interest
fixed at 1% per annum amortized over a 60-month period, with
quarterly payments then commencing on the 10th day of the first
full month following the order approving the Class 3B Claim
becoming final, in full satisfaction of the Class 3B Claim.

  * Class 4 Allowed Class 4 Claims of the Residents of Mount Royal
Tower

Class 4 consists of the Allowed Claims of the residents of Mount
Royal Towers whose Resident Contracts have not been assumed prior
to the Effective Date.  The Debtor will assume any contracts with
the residents of MRT, to the extent not already assumed by the
Debtor and assigned to MED pursuant to the terms of the August 30,
2020 Order approving the sale of the MRT assets to MED.  The Debtor
will transfer or assign any remaining unassigned Resident Contracts
in connection with the proposed sale of Debtor Assets to MED or in
connection with any other potential future sale of Debtor Assets.
The Confirmation Order constitutes an order approving the
assumption of each Resident Contract, as modified.

  * Class 5 Allowed Class 5 Unsecured Claims

The Allowed Class 5 Unsecured Claims will be paid in full, with
simple interest fixed at the federal judgment rate existing as of
the Effective Date, amortized over a two-year period commencing on
the Effective Date.  The Class 5 Unsecured Allowed Claims shall be
payable in equal pro rata quarterly installments of principal and
interest, with each such installment made on the 10th day of each
month beginning on the 10th day of the first month following the
Effective Date, for a period of 24 months following the Effective
Date of the Plan.  

Holders of Allowed Class 5 Claims may be paid earlier than the
defined two-year amortization period up to the remaining balance
due on such claims on the 30th day following the Debtor's receipt,
if any, of any post-confirmation net Litigation Proceeds (after
application of payment of the Litigation Proceeds described above
to Allowed Class 2 Claims).

  * Class 6 Allowed Class 6 Tax Claims

The Debtor, at the time of filing the Disclosure Statement, does
not believe that there are any Class 6 Tax Claims.  Nevertheless,
holders of Allowed Class 6 Claims, if any, will be paid in full in
Cash on the Effective Date.

  * Class 7 Allowed Class 7 (Sub-Class 7-A and Sub-Class 7-B
Claims)

Allowed Pre-Petition Class 7 Claims consists of (i) Sub-Class 7-A
Allowed Pre-Petition Claims of the Limited Partners, and (ii)
Sub-Class 7-B Allowed Post-Petition Claims of the Limited Partners.
The holders of Allowed Class 7-A Unsecured Claims will receive
nothing in the Plan and will have their Sub-Class 7-A Claims
discharged in the Order Confirming the Plan.

Sub-Class 7-B members will each receive cash payments to be paid
from litigation proceeds after, in order: (i) payment in full of
the Class 2 Judgment Claim; and (ii) payment in full of the Class 5
Claims. If no litigation proceeds are recovered by the Debtor, then
the holders of Class 7-B Claims will receive nothing on account of
their claims and the Sub-Class 7-B Claims will be discharged.

  * Class 8 Allowed Interests

Class 8 consists of the Allowed equity interests of the Debtor
existing on the Petition Date. As of the Petition Date, the Debtor
had eight limited partners and a general partner.  The Allowed
equity interests of the Debtor existing on the Petition Date shall
be cancelled and extinguished as of the Effective Date and shall
not receive any Distributions under the Plan.

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

The hearing on the Debtor's Disclosure Statement is set for August
26, 2021 at 2 p.m.  

                     About Vestavia Hills Ltd.

Vestavia Hills, Ltd., which conducts business under the name Mount
Royal Towers, operates a continuing care retirement community and
assisted living facility for the elderly in Vestavia Hills, Ala.
It offers individualized senior living options for a convenient
community lifestyle and provides personalized nursing care.

Vestavia Hills sought Chapter 11 protection (Bankr. S.D. Cal. Case
No. 20-00018-11) on Jan. 3, 2020.  The Debtor disclosed $18,531,957
in assets and $29,742,790 in liabilities as of the bankruptcy
filing.  Judge Louise Decarl Adler oversees the case.  The Debtor
tapped Sullivan Hill Rez & Engel as its legal counsel and Harbuck
Keith & Holmes, LLC as its special Alabama licensing and regulatory
counsel.



VINE ENERGY: Fitch Places 'B' LongTerm IDR on Watch Positive
------------------------------------------------------------
Fitch Ratings has placed Vine Energy Inc. and Vine Energy Holdings
LLC's (Vine) 'B' Long-Term Issuer Default Rating (IDR), 'BB'/RR1'
First Lien Reserve Based Loan (RBL), 'BB-'/'RR2' second lien term
loan and 'B'/'RR4' senior unsecured notes ratings on Rating Watch
Positive.

The Positive Rating Watch follows the announcement that Chesapeake
Energy Corporation (Chesapeake; not rated) has entered into a
definitive agreement to acquire Vine. Fitch expects to resolve the
Rating Watch upon completion of the transaction, which could result
in an upgrade, but depends on Chesapeake's treatment of the Vine
debt. If the acquisition fails to close, the Rating Watch Positive
will be removed, with Vine's rating likely to remain at 'B'.

Vine's standalone ratings reflect its cost structure, Haynesville
Basin footprint, hedge coverage, FCF forecast and sub-2.5x
debt/EBITDA profile. They are offset by a relatively small
reserve-based lending (RBL) borrowing base, less developed proved,
developed producing (PDP) inventory and the need to demonstrate
commitment to its outlined financial policy.

KEY RATING DRIVERS

Credit Beneficial Transaction: The transaction, which is expected
to close in 4Q21 and be accretive to Chesapeake's cash flow, is
valued at approximately $2.2 billion. Vine shareholders will
receive 0.2486 shares of Chesapeake common stock plus $1.20 cash
for total consideration of $15.00 per share. Upon closing,
Chesapeake shareholders will own approximately 86% and Vine
shareholders will own approximately 14% of the fully diluted shares
of the combined company.

The transaction is expected to result in annual cost synergies of
$50 million through $20 million of operating and $30 million of
capital synergies. At current debt levels, the transaction will
increase Chesapeake's total debt of $1.261 billion to approximately
$2.4 billion. Chesapeake forecasts 2022 pro forma net
debt-to-EBITDAX ratio of 0.6x for the combined company, which is
favorable to Fitch's approximately F2021 2.0x Total Debt with
Equity Credit forecast for Vine.

Combined Haynesville Footprint: Upon close of the proposed
transaction, Vine's 127,000 net surface acres, which are located
entirely within the dry gas Haynesville Basin in northwest
Louisiana and focus on the Haynesville and Mid-Bossier plays,
combined with Chesapeake's Haynesville production, would total
approximately 1,600MMcf/d (~267Mboed) of Hayneville production,
much of which comes from adjacent acreages.

The combined company would be a considerable supplier to the Gulf
Coast and benefit from a lower in relation to Chesapeake's current
costs, pro forma total gathering, processing and transportation
expense by approximately 15%. Total combined production will be
close to 600 Mboepd.

Standalone Well Paybacks: Vine's historical well results suggest
high initial production levels that produce 45% of estimated
ultimate recovery in the first year, providing relatively short
payback periods of 9-16 months. As a dry gas producer, Vine's
production costs of around $0.63/thousand cubic feet during 1Q21
are competitive among natural gas peers and in line with
Haynesville peer Comstock Resources Inc. (B/Positive).

DERIVATION SUMMARY

Stand-alone, Vine averaged 945MMcfed of production (0% liquids) in
1Q21 pro forma for the March 2021 transaction. This is below
Comstock's 1,281MMcfed (2% liquids) in the same 1Q period and below
1,387 in 2Q. Vine's forecast 2021 leverage around 2.0x is generally
consistent with Haynesville dry gas producer Aethon United BR LP
(B/Stable) and below Comstock's nearer 3.0x.

Vine's 1Q unhedged cash netbacks were $1.32 per thousand cubic feet
equivalent for Vine, which trailed Comstock primarily due to the
difference in realized prices. Vine's strategy for an FCF-focused,
low-growth model will require approximately $350 million in capex
during the next few years and $300 million longer term to maintain
production. Vine to drilled 6.2 net wells and completed 10.4 net
wells in 1Q21 and is guiding capex of $340 million-$350 million and
production of 985 MMcfed-1,005 MMcfed for 2021.

This compares with Comstock's plans to spend $525 million-$560
million in 2021, and is guiding production of 1,330 MMcfed-1,425
MMcfed. Comstock holds 5.6 trillion cubic feet equivalent of proved
reserves, compared with Vine's pro forma 3.2 trillion cubic feet
equivalent of proved reserves.

KEY ASSUMPTIONS

-- WTI prices of $60.00/bbl, $52.00/bbl, $50.00/bbl and
    $50.00/bbl in 2021, 2022, 2023 and 2024 respectively;

-- Henry Hub prices of $2.90/mcf in 2021 and $2.45/mcf
    thereafter;

-- Standalone production growth in the low- to mid-single digits;

-- Standalone capex of approximately $350 million in 2021-2023,
    $300 million in 2024 and beyond to maintain production;

-- Completion of acquisition by Chesapeake as expected in 4Q21.

RATING SENSITIVITIES

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

To resolve the Positive Watch:

-- Completion of the contemplated merger and favorable treatment
    of Vine's debt.

To Upgrade on a Stand-Alone Basis:

-- Execution on credit-friendly financial policies, focusing on
    deleveraging over distributions;

-- Realization of production and capital efficiencies to support
    successful shift to material positive FCF generation;

-- Continued development, de-risking and establishment of
    operational momentum that results in material increase of PDP
    reserves and competitive unit costs;

-- Mid-cycle total debt with equity credit/EBITDA or FFO adjusted
    leverage below 2.5x.

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

-- Failure to complete the merger as contemplated will result in
    removal of the Positive Watch.

To Downgrade on a Stand-Alone Basis:

-- A change in terms of financial policy that is debt-holder
    unfriendly;

-- Mid-cycle total debt with equity credit/EBITDA or FFO adjusted
    leverage above 3.0x;

-- Loss of operational momentum trending production below 700
    MMcfd or materially increasing production costs;

-- Reduction in RBL borrowing base or other event materially
    weakening liquidity;

-- A trend of negative FCF contributing to diminished liquidity.

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

Standalone Liquidity: Vine had total debt outstanding of $1.173
billion at April 30, 2021, consisting of $73 million drawn on its
RBL, $150 million in second-lien term loan debt and $950 million in
senior unsecured notes. Including $83 million of cash on its
balance sheet, the undrawn portion of its $350 million RBL
commitment net of $26 million in letters of credit, Vine had $334
million in liquidity. Total debt with equity credit/operating
EBITDA at YE 2021 is forecast to be approximately 2.0x.

ESG CONSIDERATIONS:

Standalone Vine has an ESG Relevance Score of '4' for Governance
Structure due to board independence and effectiveness issues. The
score also reflects ownership concentration due to Blackstone's
over 50% holding and subsequent ability to influence Vine's board
and management. These factors have a negative impact on Vine's
standalone credit profile and are relevant to the rating in
conjunction with other factors. Post the expected merger, Vine
shareholders will own approximately 14% of the combined company,
with Blackstone currently owning around 70% of Vine shares. The
lower concentration of ownership could result in a score of '3'
upon closing of the proposed transaction.

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.

ISSUER PROFILE

Chesapeake Energy Corporation's operations base of unconventional
oil and natural gas assets onshore are located in Appalachia, the
Gulf Coast, South Texas, Brazos Valley and the Powder River Basin.

Vine Energy Inc. is focused on the development of natural gas
properties in the stacked Haynesville and Mid-Bossier shale plays
in the Haynesville Basin of Northwest Louisiana.


VINE ENERGY: S&P Places 'B-' Issuer Credit Rating on Watch Pos.
---------------------------------------------------------------
S&P Global Ratings placed all of its ratings on U.S.-based oil and
gas exploration and production company Chesapeake Energy Corp.
(B+/Watch Pos/--) and its debt, including the 'B-' issuer credit
rating, on CreditWatch with positive implications.

This reflects S&P's expectation that it will raise the ratings on
Vine and its debt to match our rating on Chesapeake following the
close of the acquisition.

S&P said, "We placed our ratings on Vine and its debt on
CreditWatch with positive implications to reflect the likelihood
that we will raise the ratings following the close of its
acquisition by Chesapeake Energy. The transaction is subject to
Vine shareholders' approval, regulatory approvals, and other
customary closing conditions. About 70% of Vine's common stock is
owned by The Blackstone Group, which has entered into a support
agreement in favor of the acquisition.

"The CreditWatch with positive implications reflects the likelihood
that we will raise the Vine ratings, including the 'B-' issuer
credit rating, upon the close of the acquisition by Chesapeake
Energy. We expect the transaction to close in fourth-quarter
2021."



VISTAGEN THERAPEUTICS: Posts First Quarter Net Loss of $7.7-Mil.
----------------------------------------------------------------
VistaGen Therapeutics, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
and comprehensive loss of $7.74 million on $354,100 of total
revenues for the three months ended June 30, 2021, compared to a
net loss and comprehensive loss of $3.13 million on zero revenues
for the three months ended June 30, 2020.

As of June 30, 2021, the Company had $103.91 million in total
assets, $18.29 million in total liabilities, and $85.62 million in
total stockholders' equity.

At June 30, 2021, the Company had cash and cash equivalents of
approximately $97.8 million.

As of Aug. 11, 2021, the Company had 192,903,896 shares of common
stock outstanding.

"The strong momentum we generated in fiscal 2021 leading up to the
launch of our PALISADE Phase 3 Program for PH94B as a potential
rapid-onset acute treatment of anxiety in adults with social
anxiety disorder continued throughout the first quarter of fiscal
2022.  The initiation of PALISADE-1 was a major milestone in the
program.  That study is proceeding as planned, with topline data
anticipated in mid-2022.  We remain on track to initiate
PALISADE-2, which will be a counterpart of PALISADE-1, later this
year, together with several other planned clinical studies we
believe will be supportive of a potential U.S. New Drug Application
for PH94B if our PALISADE Phase 3 Program is successful.  We have
also made progress in our Phase 2A clinical development program for
PH94B, which is focused on additional anxiety disorders beyond SAD.
We recently received from the U.S. Food and Drug Administration
notice that we may proceed with our proposed exploratory Phase 2A
clinical study of PH94B for treatment of adjustment disorder with
anxiety.  We expect to initiate that study in the U.S. before year
end," said Shawn Singh, chief executive officer of VistaGen.

"Our core mission is to improve mental health and well-being for
individuals around the world.  As we continue to advance on that
goal and into the next phases of our corporate development, we have
enhanced diversity and collective expertise on our Board and across
all key internal functions.  We are well-positioned to drive our
clinical-stage programs through multiple development and regulatory
milestones, as well as appropriately-timed pre-commercial
activities, and, if our PALISADE Phase 3 Program is successful,
PH94B commercial launch operations in the U.S.," continued Singh.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1411685/000165495421008845/vtgn_10q.htm

                          About VistaGen

Headquartered in San Francisco, California, VistaGen Therapeutics
-- http://www.vistagen.com-- is a biopharmaceutical company
committed to developing and commercializing innovative medicines
with the potential to go beyond the current standard of care for
anxiety, depression, and other CNS disorders.

VistaGen reported a net loss and comprehensive loss of $17.93
million for the fiscal year ended March 31, 2021, compared to a net
loss and comprehensive loss of $20.77 million for the year ended
March 31, 2020.  As of March 31, 2021, the Company had $108.28
million in total assets, $16.30 million in total liabilities, and
$91.98 million in total stockholders' equity.


VITA CRAFT: Convenience Claim Holders to Recover 50% in Plan
------------------------------------------------------------
Vita Craft Corporation filed with the U.S. Bankruptcy Court for the
District of Kansas a Second Amended Plan of Reorganization dated
August 6, 2021.

Mamoru Imura, Chairman of Vita Craft Corporation, and the president
of Imura International, Inc., will infuse a minimum of $600,000
into New VCC to provide upfront capital for the start-up of New
VCC, plus any additional capital needed to ensure that New VCC
meets Plan obligations to creditors holding Allowed Claims.  Imura
International, Inc. is the 100% shareholder of Vita Craft
Corporation and is a co-guarantor with Mamoru Imura of the Debtor's
loans with BMO Harris Bank.  

Additionally, Vita Craft Japan will purchase sufficient product
from New VCC to fund its operations, to help the Reorganized Debtor
during the start-up days as New VCC.

Specifically, Vita Craft Japan (VCJ) will:

(a) enter into a Memorandum of Understanding involving a five-year
purchase/supply plan with New VCC whereby Vita Craft Japan will
purchase at least $750,000/year of Vita Craft products;

(b) turnover to New VCC approximately $112,000 in Vita Craft Japan
inventory still remaining at the Vita Craft factory;

(c) surrender to New VCC certain trademark territories and regions
that are necessary to the reorganized Vita Craft;

(d) receive the robot equipment and gun drills which were
originally bought by VCC for use with its RFIQ product line; and

(e) agree to a territorial division with VCC, providing VCJ
certain rights of first refusal to intellectual property of VCC in
the event VCC ceases using the intellectual property or ceases
doing business.

On the Effective Date, holders of equity interest in the Debtor
shall assign and transfer their interest in the Debtor to New VCC.
New VCC will be the 100% holder of equity in the Reorganized
Debtor.  All property of the Estate, including all avoidance and
other bankruptcy and non-bankruptcy causes of action, claims and
interests, shall vest in New VCC on the Effective Date free and
clear of all Claims, Disputed Claims, liens, encumbrances, and
interests, except as otherwise provided in the Plan.  On the
Effective Date, Imura International will assign its shares in New
VCC to Mr. Imura.

Claims and Interests under the Plan

  * Class 1 Allowed Real Property Tax Claims

Class 1 Real Property Tax Claims total $54,438, shall bear interest
at 6% per annum and shall be paid in monthly installments in an
amount sufficient to pay it and accrued interest in equal payments
over a period not to exceed 5 years after the Effective Date.

  * Class 1B Allowed Personal Property Tax Claims

The Personal Property Tax Claims in this class, which total
$26,222, shall bear interest at 6% per annum and shall be paid in
monthly installments in an amount sufficient to pay it and accrued
interest in equal payments over a period not to exceed 5 years
after the Effective Date.

  * Class 2A Allowed BMO Land Claim

The BMO Land Claim in Class 2A shall bear interest at its contract
interest rate which is the current 30-day LIBOR index rate plus 300
basis points, calculated at the first day of the month preceding
the confirmation of the Plan.  On the Plan Confirmation Date, the
fair market and replacement value of this Secured Claim is
projected to be $468,749, based on $750,000 in the real estate
apportionment to the land, less the $31,251 paid to BMO during the
Debtor's case, less the $250,000 that it is estimated as being the
minimum cost associated with preparing the building to be sold.
The Class 2A Claim shall be paid in monthly installments based on
an amortization of the outstanding principal amount of $468,749
over 30 years. The monthly payment will be $2,002.

  * Class 2B Allowed BMO Building and Equipment Claim

The BMO Building and Equipment Claim in this class shall bear
interest at its contract interest rate which is the current 30-day
LIBOR index rate plus 300 basis points, calculated at the first day
of the month preceding the confirmation of the Plan.  On the Plan
Confirmation Date, the fair market and replacement value of this
Secured Claim is projected to be $296,150, based on $100,000 in the
real estate apportionment to the building and $196,150 in the value
of the equipment of the Debtor.  The Class 2B Claim shall be paid
in monthly installments based on an amortization of the outstanding
principal amount over 15 years, the estimated useful life of the
building and equipment.  The monthly payment will be $2,001.

  * Class 2C: Allowed Nominal Value Claim

Class 2C BMO Nominal Value Claim shall not bear interest, in that
Class 2C is a claim for the remaining balance on the BMO loans,
which is estimated to be $1,658,600, that is otherwise entirely
unsecured.  The Class 2B Claim shall be paid in monthly
installments based on equal payment on this claim over months 61 to
360 of the Plan term (300 monthly payments) of $5,661.  

  * Class 3A  Allowed Unsecured Claims of $1,000 or less and
allowed Unsecured Claims voluntarily reduced to $1,000 (the
"Convenience Claim Class")

Each holder of an allowed Convenience Claim in Class 3A, which
claims total $13,877, shall be paid 50% of their allowed Unsecured
Claim within 60 days of the Effective Date or as quickly thereafter
as is practicable.

Class 3B was limited to unsecured claims of $1,000 or less, with
holders of larger Unsecured Claims given the option to voluntarily
reduce their Claims to $1,000 in order to receive a more immediate
payment.  The election to reduce a Claim to fall within this class
was provided on the ballot form served with the Plan.  Any holder
of an allowed Claim in Class 3A that did not return a ballot form
in favor of the Plan shall be treated as an allowed Unsecured
Ordinary Course Claim in Class 3C.  The foregoing shall
constitute full satisfaction of the Claims in Class 3A. 100% of the
claimants in this class that casted votes, voted in favor of
Debtor's Plan.

  * Class 3B Allowed Unsecured Ordinary Course Claims

Each holder of an allowed Class 3B, which claims total $153,745,
shall be paid 25% of their allowed Unsecured Claim paid monthly in
equal installments over 60 months. Each holder in this class had
the opportunity to voluntarily reduce its claim to $1,000 and be
paid $500 within 60 days of the Effective Date or as quickly
thereafter as is practicable.

  * Class 3C Allowed Unsecured Wage Claims of Former and Current
Employees (the Employee Claim Class)

Each holder of an allowed Class 3C Employee Claim, which claims
total $32,446, shall be paid 50% of their allowed Unsecured Claim
paid monthly in equal installments over 60 months.  The election to
be treated as an Unsecured Claim in Class 3C was provided on the
ballot form served with the Plan. Any holder of an allowed Claim in
Class 3C that did not return a ballot form in favor of the Plan
shall be treated as an allowed Unsecured Ordinary Course Claim in
Class 3C. The foregoing shall constitute full satisfaction of the
Claims in Class 3C. 100% of the claimants in Class 3C that cast
votes, voted in favor of Debtor's Plan.

Class 4 Allowed Equity Interests

The holder of an equity interest in the Debtor shall assign and
transfer its interest in the Debtor on the Effective Date to New
VCC, which will be the 100% holder of equity in New VCC.  

A copy of the Second Amended Plan is available for free at
https://bit.ly/3fYUv2i from PacerMonitor.com.

Counsel for the Debtor:

   Robert J. Haupt, Esq.
   Stephen Dexter, Esq.
   William J. Maloney, Esq.
   Lathrop Gage LLP
   2345 Grand Boulevard, Suite 2200
   Kansas City, MO 64108-2618
   Telephone: (816) 460-5733
   Facsimile: (816) 292-2001
   E-mail: robert.haupt@lathropgpm.com
           stephen.dexter@lathropgpm.com
           williamjeffrey.maloney@lathropgpm.com

                      About Vita Craft Corp.

Vita Craft Corporation, a company that manufactures cookwares,
filed a voluntary petition pursuant to Chapter 11 of the Bankruptcy
Code (Bankr. D. Kan. Case No. 19-22358) on Nov. 1, 2019.  In the
petition signed by Gary E. Martin, president, the Debtor disclosed
$7,843,679 in assets and $2,698,042 in liabilities.  Judge Robert
D. Berger oversees the case.  Robert J. Haupt, Esq., at Lathrop
Gage LLP, is the Debtor's counsel.


WASHINGTON PRIME: Vinson, Wachtell Update on Term Lenders
---------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firms of Vinson & Elkins LLP and Wachtell, Lipton, Rosen &
Katz submitted an amended verified statement to disclose an updated
list of Ad Hoc Lender Group that they are representing in the
Chapter 11 cases of Washington Prime Group Inc., et al.

The Ad Hoc Lender Group Amended and Restated Revolving Credit and
Term Loan Agreement, dated as of January 22, 2018 by and among
Washington Prime Group, L.P., an Indiana limited partnership, that
certain Term Loan Agreement, dated as of December 10, 2015 by and
among WPG LP, as borrower, certain Company Parties as guarantors,
GLAS USA LLC and Americas LLC as collateral and administrative
agent, and the lenders party thereto, and that certain Senior
Secured Term Loan Agreement, dated as of June 8, 2016 by and among
WTM Stockton, LLC and WPG LP as borrowers, GLAS USA LLC and
Americas LLC, as collateral and administrative agent.

Wachtell, Lipton, Rosen & Katz and Vinson & Elkins LLP represent
the members of the Ad Hoc Lender Group.

As of Aug. 5, 2021, members of the Ad Hoc Lender Group and their
disclosable economic interests are:

Redwood Capital Management, LLC
910 Sylvan Avenue
Englewood Cliffs, NJ 07632

* Term Loan: $44,283,334.00
* Revolver: $76,050,000.00
* 2015 Credit Facility: $31,212,115.86
* DIP Facility: $9,614,565.00

Silver Point Capital, L.P.
1100 Louisiana St Suite 4545
Houston, TX 77002

* Term Loan: $52,274,997.33
* Revolver: $87,606,915.01
* 2015 Credit Facility: $44,837,312.76
* Weberstown Term Loan Facility: $21,666,667.67
* Unsecured Notes: $34,932,000.00
* DIP Facility: $11,368,647.00

Glendon Capital Management L.P.
1620 26th Street
Santa Monica, CA 90404

* Term Loan: $55,811,355.22
* Revolver: $105,300,000.00
* 2015 Credit Facility: $63,333,333.33
* Unsecured Notes: $409,000.00
* DIP Facility: $14,410,379.00

Counsel to the Ad Hoc Lender Group can be reached at:

          VINSON & ELKINS LLP
          Paul E. Heath, Esq.
          Michael A. Garza, Esq.
          1001 Fannin Street, Suite 2500
          Houston, TX 77002-6760
          Tel: 713.758.2222
          Fax: 713.758.2346
          E-mail: pheath@velaw.com
                  mgarza@velaw.com

             - and -

          Joshua A. Feltman, Esq.
          Angela K. Herring, Esq.
          WACHTELL, LIPTON, ROSEN & KATZ
          51 West 52nd Street
          New York, NY 10019
          Tel: (212) 403-1000
          Fax: (212) 403-2000
          E-mail: jafeltman@wlrk.com
                  akherring@wlrk.com

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

                 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 U.S. Trustee for Region 6 appointed an official committee of
unsecured creditors in the Debtors' cases on June 25, 2021.
Greenberg Traurig, LLP and FTI Consulting, Inc. serve as the
committee's legal counsel and financial advisor, respectively.


WIRTA HOTELS: Case Summary & 8 Unsecured Creditors
--------------------------------------------------
Debtor: Wirta Hotels LLC
          DBA Wirta 2-H, LLC
        134 River Road
        Sequim, WA 98382

Business Description: The Debtor owns and operates a hotel
                      commonly known as the "Quality Inn & Suites
                      at Olympic National Park," located at 134
                      River Road, Sequim, Washington 98382.

Chapter 11 Petition Date: August 13, 2021

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 21-11556

Judge: Hon. Christopher M. Alston

Debtor's Counsel: Tara J. Schleicher, Esq.
                  FOSTER GARVEY PC
                  121 SW Morrison St 11th Floor
                  Portland, OR 97204-3141
                  Tel: 503-228-3939
                  Fax: 503-226-0259
                  Email: tara.schleicher@foster.com

Total Assets as of June 30, 2021: $3,136,280

Total Liabilities as of June 30, 2021: $5,193,377

The petition was signed by Bret Wirta as principal.

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

https://www.pacermonitor.com/view/4NWMEUA/Wirta_Hotels_LLC__wawbke-21-11556__0001.0.pdf?mcid=tGE4TAMA


WOLVERINE WORLD: Moody's Rates New $550MM Unsecured Notes 'Ba2'
---------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Wolverine World
Wide, Inc.'s proposed $550 million senior unsecured notes due 2029.
Wolverine's existing ratings are unchanged, including its Ba1
corporate family rating, Ba1-PD probability of default rating, Ba2
ratings on its existing unsecured notes, and SGL-1 speculative
grade liquidity rating. The rating outlook is stable.

Proceeds from the new notes will be used, together with a $35mm
revolver draw, to redeem $250 million 5% unsecured notes due 2026
and $300 million 6.375% unsecured notes due 2025 as well as to pay
related fees and expenses. The assigned rating is subject to review
of final documentation.

"The refinancing is credit positive because it will result in
annual interest expense savings of around $8 million and extend the
company's debt maturity profile," stated Moody's Vice President,
Mike Zuccaro.

Assignments:

Issuer: Wolverine World Wide, Inc.

Senior Unsecured Notes, Assigned Ba2 (LGD5)

RATINGS RATIONALE

Wolverine's Ba1 CFR reflects its meaningful scale in the global
footwear industry, its sizable portfolio of brands which appeal to
a broad range of consumer needs, and dependable replenishment
demand cycles of the footwear category due to normal product wear
and tear. The rating also reflects Moody's expectation for a
significant improvement in financial metrics, with lease-adjusted
debt to EBITDA falling near 3.5x and EBITA to interest coverage
near 6 times in 2021, as Wolverine starts repaying acquisition debt
and continues to rapidly recover from the pandemic-related
downturn. Liquidity is very good, supported by balance sheet cash,
positive free cash flow and ample availability under its revolving
credit facility. Wolverine is constrained by its relatively small
absolute revenue scale and its narrow product focus in the footwear
segment, and greater degree of fashion risk for certain brands.

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

While not likely over the near-to-intermediate term given its small
revenue scale and narrow product focus, over time, Wolverine's
ratings could be upgraded if it were to sustainably reduce
financial leverage through further debt reduction and profitable
growth. An upgrade would also require Increased diversification via
international expansion or an expanded portfolio of brands or
products. Quantitative measures include lease-adjusted debt/EBITDA
sustained below 3.0 times, EBITA/Interest above 5.0x, and FFO/Net
Debt above 35%.

Ratings could be downgraded if the company were to see a sustained
decline in operating performance, or if the company were to
undertake more aggressive financial policies such as sizable
debt-financed acquisitions or share repurchases. Quantitative
measure include lease-adjusted debt/EBITDA sustained above 3.5x or
EBITA to interest coverage below 4.0x.

Wolverine World Wide, Inc. ("Wolverine") is a marketer of branded
casual, active lifestyle, work, outdoor sport, athletic, children's
and uniform footwear and apparel. The company's portfolio of brands
includes: Merrell, Saucony, Sperry, Hush Puppies, Wolverine, Keds,
Chaco, Bates, HYTEST and Stride Rite. The company also is the
global footwear licensee of the Cat and Harley-Davidson brands.
Revenue for the latest twelve month period ended July 2021 was
around $2.4 billion.

The principal methodology used in this rating was Apparel published
in June 2021.


WOLVERINE WORLD: S&P Rates New $550MM Senior Unsecured Notes 'BB'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating to U.S.
based footwear seller Wolverine World Wide Inc. (WWW)'s proposed
$550 million senior unsecured notes due in 2029. The recovery
rating is '4' (rounded estimates: 40%), reflecting its expectation
for average recovery in the event of a payment default. At the same
time, S&P raised its issue-level rating on the company's existing
senior unsecured notes to 'BB' from 'BB-' and revising the recovery
rating to '4' (rounded estimates: 40%) from '5' (rounded estimates:
25%). The higher recovery rating reflects the inclusion of the
company's recently closed acquisition of Sweaty Betty, which
increases our enterprise value at default.

The issue-level and recovery ratings on the company's first-lien
term loan are unchanged. The company intends to use proceeds from
the issuance to retire its existing $300 million senior unsecured
notes due in 2025 and $250 million senior unsecured notes due in
2026. S&P considers this transaction to be debt and leverage
neutral, and it will withdraw our ratings on the existing unsecured
notes once they are paid off.

S&P said, "Our ratings on the company reflect WWW's participation
in the highly fragmented and competitive footwear industry, with a
portfolio of well-known brands such as Merrell, Sperry, and
Saucony, and our expectation for the company to maintain adjusted
leverage between 3x-4x. We continue to expect that the consumer
demand will remain healthy in 2021 for WWW's portfolio of active
and outwear footwear. We expect WWW to be able to take price
increases and to benefit from channel mix toward e-commerce to
offset increasing freight costs and supply chain pressures."

Issue Ratings - Recovery Analysis

Key analytical factors:

-- S&P said, "Our simulated default scenario contemplates a
default in 2026 resulting from competitive pressures, a
reputation-damaging event, loss of a major customer, or a spike in
input costs that cannot be passed along to its clients. A
combination of these factors could result in lower revenue and cash
flow. As a result, the company may find itself in the position of
having to fund cash flow shortfalls with available cash and
revolver borrowings. We believe that if the company were to
default, it would reorganize rather than liquidate."

-- S&P said, "Our recovery analysis assumes a gross reorganization
value for the company of about $1.2 billion, reflecting emergence
EBITDA is about $181 million and a 6.5x multiple. The increase in
our simulated default EBITDA and enterprise valuation reflects our
inclusion of the incremental contribution from the Sweaty Betty
acquisition. We estimate for Wolverine to default, EBITDA would
need to decline significantly, representing a significant decline
from the current state of business."

Simulated default assumptions

-- Year of default: 2026

-- Debt service assumption: $100 million (assumed default year
interest and amortization)

-- Minimum capex assumption: $34 million

-- Preliminary emergence EBITDA: $ 134 million

-- Operational adjustment: 35% ($47 million)

-- Emergence EBITDA: $181 million

-- Implied enterprise value multiple: 6.5x

Simplified waterfall

-- Net recovery value (after 5% administrative cost): $1.1
billion

-- Valuation split% (obligor/nonobligors): 70%/30% (reflecting the
latest revenue split of guarantor/non-guarantor subsidiaries
including Sweaty Betty as non-guarantors)

-- Priority claims: $46 million

-- Collateral for secured creditors including deficiency claims:
$940 million

-- First-lien claims: $834 million

    --Recovery expectation: 90%-100% (rounded estimate: 95%)

-- Residual for unsecured claims: $235 million

-- Senior unsecured notes and pari-passu deficiency claims: $574
million

    --Recovery expectation: 30%-50% (rounded estimate: 40%)



YIELD10 BIOSCIENCE: Incurs $3.1 Million Net Loss in Second Quarter
------------------------------------------------------------------
Yield10 Bioscience, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $3.09 million on $174,000 of total revenue for the three months
ended June 30, 2021, compared to a net loss of $1.80 million on
$221,000 of total revenue for the three months ended June 30,
2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $5.65 million on $370,000 of total revenue compared to a
net loss of $5.40 million on $400,000 of total revenue for the same
period during the prior year.

As of June 30, 2021, the Company had $25.21 million in total
assets, $4.75 million in total liabilities, and $20.46 million in
total stockholders' equity.

Since its inception, the Company has incurred significant expenses
related to its research, development and commercialization efforts.
With the exception of 2012, the Company has recorded losses since
its initial founding, including the three and six months ended June
30, 2021.  As of June 30, 2021, the Company had an accumulated
deficit of $380,753,000.  The Company's unrestricted cash, cash
equivalents and investments are held primarily for working capital
purposes and as of June 30, 2021, were $20,562,000 as compared to
cash, cash equivalents and investments of $9,702,000 at Dec. 31,
2020.  As of June 30, 2021, the Company had restricted cash of
$264,000, consisting of $229,000 held in connection with the lease
agreement for its Woburn, Massachusetts facility and $35,000 held
in connection with its corporate credit card program.  As of June
30, 2021, the Company continued to have no outstanding debt.

Management Commentary

"We are focused on executing against our core business strategy of
utilizing Camelina as a platform crop to produce food, fuel, and
PHA bioplastic," said Oliver Peoples, Ph.D., president and chief
executive officer of Yield10.  "Our important early
commercialization activities continue, highlighted by our recent
new hires to support the regulatory, supply chain and commercial
paths for our traits, as well as by contracting with third parties
to scale up and crush seed to produce samples of Camelina oil for
business development efforts.  We are field testing Camelina in
Argentina, for the first time, with the goal of forming strategic
partnerships to enable our market entry strategy for
commercializing omega-3 oils in the farmed salmon feed market.

"Our team is making excellent progress across our R&D priorities
for 2021.  We remain on track scaling up certain Camelina lines to
enable planting at larger scale as we are also field testing
Camelina elite germplasm, as well as lines designed to produce
increased seed yield, oil content, and PHA in a field program
spanning more than 12 sites across the U.S., Canada and Argentina.
We are also supporting the Rothamsted team as they field test and
scale up omega-3 (DHA+EPA) Camelina lines.  We believe our
innovations will enable the delivery of sustainable product options
well matched to market demands.

"Our GRAIN platform addresses the main challenge in agricultural
biotechnology that being the consistent identification of novel
targets that produce meaningful improvements in crop performance.
Our team has discovered four new oil content targets, including
C3020, and three additional traits accessible by CRISPR, a timely
development given the increasing demand for vegetable oil for the
food and fuel markets.

"In the second half of 2021, we look forward to continuing to
advance our business plans for Camelina, reporting proof points
from our R&D activities, and achieving key milestones supporting
the growth of our business," said Dr. Peoples.

COVID-19 Impact on Operations.  "The Company has implemented
business continuity plans to address the COVID-19 pandemic and
minimize disruptions to ongoing operations.  To date, despite the
pandemic, we have been able to move forward with the operational
steps required to execute our 2021 field trials in Canada and the
United States.  However, it is possible that any potential future
closures of our research facilities, should they continue for an
extended time, could adversely impact our anticipated time frames
for evaluating and/or reporting data from our field trials and
other work we plan to accomplish during 2021 and beyond."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1121702/000112170221000045/yten-20210630.htm

                           About Yield10

Yield10 Bioscience, Inc. -- http://www.yield10bio.com-- is an
agricultural bioscience company that uses its "Trait Factory" and
the Camelina oilseed "Fast Field Testing" system to develop high
value seed traits for the agriculture and food industries.  Yield10
is headquartered in Woburn, MA and has an Oilseeds Center of
Excellence in Saskatoon, Canada.

Yield10 Bioscience reported a net loss of $10.21 million for the
year ended Dec. 31, 2020, compared to a net loss of $12.95 million
for the year ended Dec. 31, 2019.  As of March 31, 2021, the
Company had $27.57 million in total assets, $4.47 million in total
liabilities, and $23.09 million in total stockholders' equity.


[*] Executives of Bankrupt U.S. Drillers Received $199 Mil. in Cash
-------------------------------------------------------------------
Josyana Joshua of Bloomberg Law reports that the executives of
failed U.S. drillers got $199 million in cash.

The oil and gas explorers they managed went under, but they walked
out with a combined $199 million in cash.

That's how much 76 executives behind the 25 largest U.S. oil and
gas bankruptcies between 2018 and 2020 received in cash bonuses,
retention payments and severance, advocacy group Public Citizen
said in a report Thursday, August 12, 2021. Meanwhile, more than
10,000 of their employees lost their jobs, the group said.

The shale boom that made the U.S. the world's largest oil producer
was bankrolled by hundreds of billions of dollars in debt.  Two
market crashes since 2014 have led scores of producers to go
under.

"The fossil fuel industry has been a poster child for ill-conceived
corporate welfare for decades, benefiting from numerous subsidies,
tax breaks and regulatory favors," Robert Weissman, president of
Public Citizen, said in a statement.

To be sure, most shale producers have made spending discipline,
debt reduction and investor returns their main focus since the
pandemic-driven market collapse of last 2020. Producers' earnings
have rebounded this 2021, and their balance sheets were
strengthened by a rally in oil and gas prices.

Oil and gas executives got an average $2.6 million cash payout each
following bankruptcy, according to the report. The study excluded
other forms of compensation.

The report also pointed out that the companies that were analyzed
purchased only $281 million in bonds to cover environmental losses,
less than 20% of their own estimated environmental liabilities.

The group is calling on U.S. President Joe Biden and lawmakers to
eliminate subsidies to the oil and gas industry, update leasing
laws and ensure taxpayers aren't saddled with the cost of well
cleanups.


[*] Insurers Misuse Proof of Claim Forms in Tort Bankruptcies
-------------------------------------------------------------
Jeffrey L. Cohen, Michael A. Kaplan and Rasmeet K. Chahil of
Lowenstein Sandler LLP wrote an article on Bloomberg Law titled
"Insurers Misuse Proof of Claim Forms in Mass Tort Bankruptcy
Cases."

Organizations are turning to bankruptcy protection to manage
liabilities from mass torts arising from allegations of sexual
misconduct involving children.  Lowenstein Sandler attorneys assert
that insurers increasingly are inserting intrusive questions in
proof of claim forms to deter claimants in these cases.

In recent years, a growing number of entities, such as the Boy
Scouts of America and Catholic dioceses, have sought bankruptcy
protection to address liabilities arising from mass torts, the most
egregious of which relate to sexual misconduct involving children.
Debtors facing these claims have used the bankruptcy system to
bring all the key stakeholders to the table in order to reach a
global resolution.

Insurers play a critical role in these cases, as debtors look to
insurance companies to fulfill their obligations and contribute
meaningful amounts to survivor trusts. Insurers, however, have used
(or misused) the bankruptcy system to avoid or substantially reduce
the contribution needed to buy back their policy.

Questions Designed to Deter Claimants
One tactic commonly used by insurers is the attempted manipulation
of proof of claim forms to reduce the number of claims filed.

While detailed proof of claim forms have become increasingly common
in mass tort bankruptcy cases, insurers have sought to add invasive
questions that go beyond the simple information necessary to
establish the basis for the claim. Insurers have done so under the
guise of obtaining more information on the claims to evaluate them
for liability and coverage, and ultimately to achieve a global
settlement.

In practice, however, these questions are designed to deter
claimants—who may already be experiencing trauma from having to
recall distressing events—from filing claims, and ultimately, to
reduce the insurers’ potential exposure.

An analysis of over a dozen diocesan bankruptcy cases has revealed
common strategies used by insurers. A question that insurers
frequently seek to add to proof of claim forms in diocesan cases is
whether the claimant told anyone about the abuse, and the details
of that disclosure. (See insurer filings in In re Roman Catholic
Diocese of Syracuse and In re Diocese of Rochester.) In some cases,
insurers have even requested written documentation or
correspondence that demonstrates whether the survivor contacted
anyone about the abuse, and if so, whom.

While relevant to the insurers' analysis of coverage issues, such
as whether a diocese had notice of a perpetrator's prior abuse or
evidence supporting a defense that the abuse was "expected and
intended," the proof of claim form is not the proper vehicle to
fish for such evidence.

Further, such questions may give survivors the impression that
having told someone about the abuse or having documented such
notice is necessary to assert a claim. While questions about
whether the abuse was disclosed to anyone have been allowed, courts
have rejected questions seeking documentation of that disclosure.

More Questionable Queries
Another common proposed addition from insurers is a question asking
whether the diocese knew or should have known about the abuse (to
the claimant or to others). (See insurer filings in In re Diocese
of Camden, New Jersey and In re the Roman Catholic Diocese of
Rockville Centre, New York.)

Questions about the diocese's knowledge are better directed to the
diocese, and there is no reason to seek this information from the
claimant. This is particularly so where the claimants often were
children at the time of the abuse and may lack memory or actual
knowledge of what was done on their behalf with respect to the
diocese.

The question also implies that the survivor should have told the
diocese about the abuse and that by failing to do so, the survivor
was somehow complicit in the cover-up. These questions were
rejected by the Camden and Rockville courts.

Insurers, including those in the Rockville and Rochester diocese
cases, have also sought to ask claimants about other instances of
sexual abuse unrelated to the diocese. Such a question is
irrelevant for purposes of whether the claimant has a prima facie
claim against the debtor, and instead is more of an interrogatory
aimed at gathering defenses regarding a survivor’s claim.

This question is also invasive, and requiring the survivor to
disclose multiple, unrelated experiences of sexual abuse could have
a chilling effect on a survivor’s willingness to assert a claim.
Courts have similarly rejected the inclusion of this question on
proof of claim forms.

Who Signs the Form?
Finally, an issue in a number of bankruptcy cases involving sexual
abuse claims has been whether the proof of claim form can be signed
by an attorney or must be signed by the claimant.

Insurers have argued that allowing an attorney signature opens the
door to false claims. Decisions on this have been mixed, with some
courts requiring claimant signatures and others allowing attorney
signatures. (See Boy Scouts, Camden, and Rochester bar date
orders.)

Specialized proof of claim forms used in sexual abuse and other
mass tort cases should be simple and streamlined, taking into
consideration that many forms are submitted by pro se claimants.
The forms should not be used as an opportunity for parties to take
intrusive discovery.

Given the horrific nature of the childhood sexual abuse that
survivors may be disclosing for the first time, the questions
should not be designed to deter survivors from filing claims or
worse, to contribute to the harm already suffered. Courts,
committees, and attorneys representing survivors should be mindful
of the insurers’ playbook and steadfastly guard against misuse of
the survivor claim form by insurers seeking to avoid honoring their
contractual obligations.

This column does not necessarily reflect the opinion of The Bureau
of National Affairs, Inc. or its owners.


[^] BOND PRICING: For the Week from August 9 to 13, 2021
--------------------------------------------------------

  Company                     Ticker  Coupon Bid Price   Maturity
  -------                     ------  ------ ---------   --------
Assertio Therapeutics Inc     ASRT     2.500    98.203   9/1/2021
BPZ Resources Inc             BPZR     6.500     3.017   3/1/2049
Basic Energy Services Inc     BASX    10.750    15.673 10/15/2023
Basic Energy Services Inc     BASX    10.750    15.673 10/15/2023
Buffalo Thunder
  Development Authority       BUFLO   11.000    50.000  12/9/2022
Clovis Oncology Inc           CLVS     2.500    96.552  9/15/2021
EQT Corp                      EQT      8.990    98.108   9/1/2021
Energy Conversion Devices     ENER     3.000     7.875  6/15/2013
Energy Future Competitive
  Holdings Co LLC             TXU      0.924     0.072  1/30/2037
Federal Home Loan Banks       FHLB     0.600    99.432 11/18/2024
Federal Home Loan Banks       FHLB     1.125    99.438  8/17/2026
GNC Holdings Inc              GNC      1.500     1.250  8/15/2020
GTT Communications Inc        GTTN     7.875    10.974 12/31/2024
GTT Communications Inc        GTTN     7.875    10.628 12/31/2024
Goodman Networks Inc          GOODNT   8.000    38.307  5/11/2022
International Paper Co        IP       3.550   106.083  6/15/2029
MAI Holdings Inc              MAIHLD   9.500    19.153   6/1/2023
MAI Holdings Inc              MAIHLD   9.500    19.153   6/1/2023
MAI Holdings Inc              MAIHLD   9.500    19.750   6/1/2023
MBIA Insurance Corp           MBI     11.386    15.000  1/15/2033
MF Global Holdings Ltd        MF       9.000    15.625  6/20/2038
MF Global Holdings Ltd        MF       6.750    15.625   8/8/2016
Macy's Inc                    M        8.375   110.043  6/15/2025
Navajo Transitional
  Energy Co LLC               NVJOTE   9.000    65.000 10/24/2024
Nine Energy Service Inc       NINE     8.750    50.790  11/1/2023
Nine Energy Service Inc       NINE     8.750    51.759  11/1/2023
Nine Energy Service Inc       NINE     8.750    52.484  11/1/2023
OMX Timber Finance
  Investments II LLC          OMX      5.540     0.350  1/29/2020
Renco Metals Inc              RENCO   11.500    24.875   7/1/2003
Riverbed Technology Inc       RVBD     8.875    67.219   3/1/2023
Riverbed Technology Inc       RVBD     8.875    67.219   3/1/2023
Rolta LLC                     RLTAIN  10.750     2.135  5/16/2018
SeaWorld Parks &
  Entertainment Inc           SEAS     9.500   107.709   8/1/2025
SeaWorld Parks &
  Entertainment Inc           SEAS     9.500   107.898   8/1/2025
Sears Holdings Corp           SHLD     6.625     1.260 10/15/2018
Sears Holdings Corp           SHLD     6.625     2.236 10/15/2018
Sears Roebuck Acceptance      SHLD     6.750     0.413  1/15/2028
Sears Roebuck Acceptance      SHLD     7.000     0.316   6/1/2032
Sears Roebuck Acceptance      SHLD     7.500     0.680 10/15/2027
Sears Roebuck Acceptance      SHLD     6.500     0.365  12/1/2028
Sempra Texas Holdings Corp    TXU      5.550    13.500 11/15/2014
Tanger Properties LP          SKT      3.750   106.659  12/1/2024
TerraVia Holdings Inc         TVIA     5.000     4.644  10/1/2019
WEA Finance LLC               ULFP     3.150   101.101   4/5/2022
WEA Finance LLC               ULFP     3.150   101.199   4/5/2022



                            *********

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,
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                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
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.

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