/raid1/www/Hosts/bankrupt/TCR_Public/211007.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, October 7, 2021, Vol. 25, No. 279

                            Headlines

AA VARELA: Seeks to Employ William Haeberle as Accountant
AARNA HOTELS: Wins Cash Collateral Access Thru Oct 26
ADAMIS PHARMACEUTICALS: Appoints Meera Desai as Director
AGILE THERAPEUTICS: Medi-Cal Adds Twirla to Preferred Drug List
AIR LEASE: S&P Rates New C Perpetual Preference Shares 'BB+'

ALH PROPERTIES: Court OKs Deal Modifying Final Cash Order
AMBICA M&J: Owner Files Complaint vs. Adirondack Trustee
APPLIED ENERGETICS: Registers $100 Million Worth of Securities
AULT GLOBAL: Increases Stake in Medalist Diversified to 8.36%
BASIC ENERGY: Seeks to Hire Pachulski as Conflicts Counsel

BEAR VALLEY RANCH: Has Cash Collateral Access Through Nov. 2
BIZGISTICS INC: Has Interim Cash Collateral Access Thru Oct. 20
BONANZA CREEK: S&P Assigns 'B+' Preliminary ICR, Outlook Stable
CALPLANT I: Files for Chapter 11 to Cut Debt, Find Buyer
CASTLELAKE AVIATION: Fitch Gives 'BB(EXP)' to $420MM Unsec. Notes

CASTLELAKE AVIATION: Moody's Rates New Senior Unsecured Notes 'B2'
CLEAN ENERGY: Signs Securities Purchase Deal With Geneva Roth
CONDUENT INC: S&P Rates New $520MM Senior Secured Notes 'BB-'
COSMOLEDO LLC: Trustee Asks Court Okay for $1.8 Million FLSA Deal
COTY INC: S&P Alters Outlook to Positive, Affirms 'B-' ICR

CRCI LONGHORN: S&P Alters Outlook to Positive, Affirms 'B-' ICR
CYTODYN INC: Antonio Migliarese Retains CFO Post
DANE HEATING: Gets OK on Cash Collateral Use Through Oct. 31
DEL MONTE FOODS: S&P Raises ICR to 'B' on Continued Deleveraging
EAGLE HOSPITALITY: Ready for Chapter 11 Plan After Settlement

ELITE AEROSPACE: U.S. Trustee Appoints Creditors' Committee
ENERGY ENTERPRISES: Wins Cash Collateral Access on Final Basis
EXTRUSION GROUP SERVICES: Case Summary & 3 Unsecured Creditors
FAMILY FRIENDLY: Wins Cash Collateral Access Through Nov. 30
FRESH ACQUISITIONS: BBQ Holdings Wins Auction for Tahoe Joe

GANNETT CO: Fitch Assigns FirstTime 'B' LT IDRs, Outlook Stable
GBG USA: Gets Court Okay to Sell Ely & Walker Assets to TAJ Imports
GBT TECHNOLOGIES: To Pay $1,771 Monthly Under Modified SBA Loan
GENERAL CANNABIS: John Dalton Gets New Role as SevenFive Founder
GENTREE LLC: U.S. Trustee Unable to Appoint Committee

GIRARDI & KEESE: Edelson Seeks Court Order to Pursue Erika
GRUPO AEROMEXICO: Plan Depends on New Debt, Equity Financing
H-CYTE INC: Robert Greif Ends Term as CEO
HOUSE N BOX: Seeks to Hire The Lane Law Firm as Bankruptcy Counsel
HTP INC: Seeks to Hire Western Washington Law as Special Counsel

IMERYS TALC: Insurers Ask 3rd Circuit to Nix Future Claims Rep.
INVO BIOSCIENCE: Expects to Raise $3.65M From Stock Offering
ISLET SCIENCES: Seeks to Hire Shardul Amarchand as Special Counsel
JIM'S DISPOSAL: Unsecureds' Recovery Hiked to $1.65M in Plan
JOHN Q. HAMMONS: 10th Circuits Rejects Trustee's Ch. 11 Fee Hike

KORNBLUTH TEXAS: Court Denies Cash Collateral Motion
L&L WINGS: Has Cash Collateral Access Until Dec. 10
LIVE PRIMARY: Seeks to Hire Beverly Holmes as Accountant
MALLINCKRODT PLC: Creditors' Committee Now Backs Plan
McEWAN ENTERPRISES: Commences CCAA Proceedings

MEDLEY LLC: Chapter 11 Plan Should Overcome Court's Cash Concerns
MIDLAND COGENERATION: S&P Affirms 'BB' ICR, Outlook Stable
MINVEST USA: Case Summary & 9 Unsecured Creditors
MKS INSTRUMENTS: Fitch Assigns FirstTime 'BB+' LongTerm IDR
MOBIQUITY TECHNOLOGIES: Salkinds Buy Additional 375K Common Shares

MURRIETA HOLDINGS: Case Summary & Unsecured Creditor
MYOMO INC: AIGH Capital Has 6.3% Stake as of Sept. 20
MYOMO INC: Extends Term of GRE Services Agreement to March 2022
NAVIGANT DEVELOPMENT: Taps Cozen O'Connor as Bankruptcy Counsel
NEW YORK BAKERY: Files Emergency Bid to Use Cash Collateral

NEWSTREAM HOTEL: Obtains 30-Day Access to Cash Collateral
NEXTPLAY TECHNOLOGIES: Closes Stock Exchange Deal With NextBank
PG&E CORP: CEO Poppe Sees ‘No Basis’ for Dixie Criminal Charge
PLAYER'S POKER: Seeks to Hire Falk & Sharp as Special Counsel
PRIMARY PRODUCTS: S&P Assigns 'BB-' on Acquisition, Outlook Stable

PROSPECT-WOODWARD HOME: Committee Taps McLane as Local Counsel
PROSPECT-WOODWARD HOME: Committee Taps Perkins Coie as Lead Counsel
QUALITY REHABILITATION: Case Summary & 20 Top Unsecured Creditors
R.A. BORRUSO: Has Final OK on Cash Collateral Use
RENNOVA HEALTH: Secures Extra $500K From Preferred Stock Offering

RIOT BLOCKCHAIN: To Hold Site Tour of Whinstone Facility on Oct. 20
RIVERA FAMILY: Voluntary Chapter 11 Case Summary
ROCKDALE MARCELLUS: Seeks to Hire Reed Smith as Bankruptcy Counsel
ROCKDALE MARCELLUS: Taps Epiq as Administrative Agent
ROCKDALE MARCELLUS: Taps Quinn Emanuel as Litigation Counsel

ROCKLAND INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
ROI INDUSTRIES: Taps Rettig Corp. as Turnaround Consultant
RURAL CONNECT: Seeks to Hire Glankler Brown as Bankruptcy Counsel
SILVER PLAZA: Gets OK to Hire Real Estate Brokers
SK INVICTUS: S&P Raises ICR to 'B+'; Outlook Stable

SRI VARI CRE: Wins Cash Collateral Access Thru Oct 26
STURGEON AQUAFARMS: Seeks to Hire Linda Leali as Bankruptcy Counsel
TASEKO MINES: S&P Retains 'B-' ICR, Outlook Stable
TEEKAY CORP: S&P Places 'B+' Long-Term ICR on Watch Negative
TTM TECHNOLOGIES: Fitch Affirms 'BB' LT IDRs, Outlook Stable

U.S. TOBACCO: Opposes Bid to Appoint Unsecured Creditors' Panel
VBI VACCINES: To Join H.C. Wainwright HBV Conference on Oct. 13
VERITAS FARMS: Sells 2 Million Convertible Preferred Shares
VIZIB TECHNOLOGIES: 3:10 & KBST's Plans to Pay Unsecureds in Full
WALKER & DUNLOP: S&P Affirms 'BB' ICR, Outlook Stable

WEBER-STEPHEN PRODUCTS: S&P Raises ICR to BB-, Off CreditWatch Pos.
YAK ACCESS: Lenders Hire Evercore to Help Liquidity Pressures
[*] DOJ's Bankruptcy Fee Rise Ruled Invalid, Adding Circuit Split
[*] New Hampshire Sept. 2021 Bankruptcy Filings Hit 33-Year Low
[^] Recent Small-Dollar & Individual Chapter 11 Filings


                            *********

AA VARELA: Seeks to Employ William Haeberle as Accountant
---------------------------------------------------------
AA Varela Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire William Haeberle,
a Florida-based certified public accountant, to prepare its monthly
operating reports and income tax returns.

The Debtor will pay Mr. Haeberle a monthly fee of $300 for the
monthly operating reports and $200 per hour for income tax
preparation services.

The accountant received a $2,000 retainer fee from the Debtor.

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

Mr. Haeberle can be reached at:

     William G. Haeberle, CPA
     William G. Haeberle, P.A.
     4446-1A Hendricks Ave., Suite 245
     Jacksonville, FL 32207
     Tel: (904) 245-1304

                          About AA Varela

AA Varela Properties, LLC filed a petition for Chapter 11
protection (Bankr. M.D. Fla. Case No. 21-02049) on Aug. 23, 2021,
listing as much as $50,000 in both assets and liabilities.  Alvaro
Varela, owner, signed the petition.

Judge Jerry A. Funk oversees the case.

The Debtor tapped Thomas Adam of Adam Law Group, P.A. as legal
counsel and William G. Haeberle, CPA as accountant.


AARNA HOTELS: Wins Cash Collateral Access Thru Oct 26
-----------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina, Charlotte Division, has authorized Aarna Hotels, LLC to
use cash collateral through 11:59 p.m. on October 26, 2021, the
date of the continued hearing on the Debtor's cash collateral
motion.  

The Debtor and its secured lender, M2 Charlotte Airport, LLC, have
agreed that the Debtor may continue using cash collateral through
and including the date of the continued hearing on the conditions
set forth in the First Interim Order.

A copy of the order is available for free at https://bit.ly/3Bb07iy
from PacerMonitor.com.

The October 26 hearing will be held at 9:30 a.m. in the United
States Bankruptcy Court, Charles Jonas Federal Building, JCW
Courtroom 2B, 401 West Trade Street, Charlotte, North Carolina.

                        About Aarna Hotels

Aarna Hotels, LLC is a limited liability company formed in 2017
under the laws of the State of North Carolina. It owns and operates
an Aloft branded hotel located at 3928 Memorial Parkway in
Charlotte, North Carolina.

Aarna Hotels sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D.N.C. Case No. 21-30249) on April 29,
2021. In the petition signed by Anuj N. Mittal, manager, the Debtor
disclosed up to $50 million in both assets and liabilities.

Judge Laura T. Beyer presided over the case before Judge J. Craig
Whitley took over.  Richard S. Wright, Esq., at Moon Wright &
Houston, PLLC, is the Debtor's legal counsel.



ADAMIS PHARMACEUTICALS: Appoints Meera Desai as Director
--------------------------------------------------------
Adamis Pharmaceuticals Corporation has appointed Meera J. Desai,
Ph.D., as a member of the company's board of directors.  Dr. Desai
replaces Roshawn Blunt, who retired from the Board effective Oct.
1, 2021.

Richard Williams, Chairman of the Board, commented: "We are pleased
to welcome Dr. Desai to the Board and look forward to working with
her to pursue long-term value creation.  Her substantial expertise
in international pharmaceutical licensing, combined with her
background in drug development and commercialization will help us
refine corporate strategy to maximize our product pipeline.  I
would also like to thank Roshawn Blunt for her service on the board
and for her contributions to Adamis."

Dr. Desai is the founder and managing partner of Silicon
Valley-based Karana Biotech, a boutique advisory firm focused on
guiding pharmaceutical and biotech clients through complex
international licensing, commercialization, and other strategic
transactions. Prior to founding Karana Biotech, she led corporate
development efforts for AcelRx Pharmaceuticals (NASDAQ: ACRX).
Previously, Dr. Desai was involved in pharmaceutical development
for Novartis Pharmaceuticals, Nektar Therapeutics, and ALZA
Corporation (a division of Johnson & Johnson).  She holds a
Bachelor of Arts degree in chemistry from Drew University and a
Doctorate in Analytical Chemistry from Iowa State University.  Dr.
Desai will serve on the Audit, Compensation, and the Nominating and
Governance committees of the Adamis Board.

In connection with her appointment as a director of the Company,
Dr. Desai was granted a cash stock appreciation right.  The SAR
provides for a reference price equal to the fair market value of
the common stock of the Company of the date of grant of the SAR,
and a reference number of shares equal to 50,000 shares.  The SAR
vests with respect to 1/6 of the reference number of shares on the
six-month anniversary of the grant date and vests monthly
thereafter in equal installments over a period of three years from
the grant date, subject to the recipient providing continuous
service to the Company.  The SAR has a term of seven years.  The
vested portion of the SAR may be settled only in cash and may be
exercised for a period of 12 months after the date of termination
of the recipient's service to the Company.  Upon settlement, the
Company will pay to the recipient an amount of cash equal to the
difference between the fair market value of the common stock on the
date of termination of service or, if lower, on the date of
exercise, and the initial reference price, multiplied by the number
of shares as to which the SAR is being exercised.  In the event of
a change of control of the Company before the SAR is fully vested,
vesting and exercisability is accelerated.

Pursuant to the Company's policies regarding compensation for
non-employee directors, Dr. Desai will be entitled to receive an
annual cash director fee and is also entitled to reimbursement of
reasonable expenses incurred in connection with Board-related
activities.  The Company will also enter into an indemnity
agreement with Dr. Desai.

                   About Adamis Pharmaceuticals

Adamis Pharmaceuticals Corporation --
http://www.adamispharmaceuticals.com-- is a specialty
biopharmaceutical company primarily focused on developing and
commercializing products in various therapeutic areas, including
allergy, opioid overdose, respiratory and inflammatory disease.

Adamis reported a net loss of $49.39 million for the year ended
Dec. 31, 2020, compared to a net loss of $27.51 million for the
year ended Dec. 31, 2019.  As of Dec. 31, 2020, the Company had
$30.87 million in total assets, $27.37 million in total
liabilities, and $3.50 million in total stockholders' equity.

San Diego, California-based BDO USA, LLP, the Company's auditor
since 2020, issued a "going concern" qualification in its report
dated April 15, 2021, citing that the Company has suffered
recurring losses from operations and has a net capital deficiency
that raise substantial doubt about its ability to continue as a
going concern.


AGILE THERAPEUTICS: Medi-Cal Adds Twirla to Preferred Drug List
---------------------------------------------------------------
The California Medicaid Program, Medi-Cal, has placed Twirla on the
preferred drug formulary list as of Oct. 1, 2021.  This development
secures a preferred position for Twirla on the formulary for
Medi-Cal and related programs which provide health care to
approximately 15 million beneficiaries.

As of Oct. 1, 2021, the preferred drug list placement for Medi-Cal
will apply to those beneficiaries who receive their pharmacy
benefit through fee-for-service (FFS) plans and related programs
like the Family Planning, Access, Care and Treatment (Family PACT)
Program, with the remainder of beneficiaries gaining access as of
Jan. 1, 2022.

"We continue to pursue expanding access to Twirla to as many women
as possible.  Broad access to as many contraceptive choices as
possible, including the only contraceptive patch that delivers a
low dose of estrogen, Twirla, allows a woman to select the
contraceptive product that is right for her," said Al Altomari,
chief executive officer of Agile Therapeutics, Inc.  "We believe we
have now taken an important step in that direction for women in
California with the addition of Twirla to a preferred position on
the formulary for Medi-Cal, the largest Medicaid program in the
U.S."

                     About Agile Therapeutics

Agile Therapeutics, Inc. is a forward-looking women's healthcare
company dedicated to fulfilling the unmet health needs of today's
women.  The Company's product and product candidates are designed
to provide women with contraceptive options that offer freedom from
taking a daily pill, without committing to a longer-acting method.
Its initial product, Twirla, (levonorgestrel and ethinyl
estradiol), a transdermal system, is a non-daily prescription
contraceptive.

Agile reported a net loss of $51.85 million for the year ended Dec.
31, 2020, compared to a net loss of $18.61 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $52.28
million in total assets, $27.67 million in total liabilities, and
$24.61 million in total stockholders' equity.

Iselin, New Jersey-based Ernst & Young LLP issued a "going concern"
qualification in its report dated March 1, 2021, on the
consolidated financial statements for the year ended Dec. 31, 2020,
citing that the Company has generated losses since inception, used
substantial cash in operations, anticipates it will continue to
incur net losses for the foreseeable future and requires additional
capital to fund its operating needs beyond 2021.


AIR LEASE: S&P Rates New C Perpetual Preference Shares 'BB+'
------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue-level rating to Los
Angeles-based aircraft lessor Air Lease Corp.'s proposed series C
fixed-rate reset non-cumulative perpetual preference shares (final
amount to be determined upon close). The preferred shares will rank
senior to the company's common stock, and S&P classifies them as
having intermediate equity credit (50% equity) based on the
proposed terms, thus it rates the instrument two notches below its
'BBB' long-term issuer credit rating on Air Lease to reflect its
subordination and payment flexibility due to the optional
deferability of the dividend payments. The company will use the
proceeds from this issuance for general corporate purposes,
including to acquire aircraft and repay debt.

S&P said, "Our 'BBB' issuer credit rating on Air Lease reflects its
position as a midsize--albeit rapidly growing--provider of aircraft
operating leases, its young and diverse aircraft fleet, and its
relatively low debt leverage for an aircraft lessor. Air Lease,
like other aircraft leasing companies, generated somewhat less
revenue in 2020 than we previously expected due to the effects of
the COVID-19 pandemic on its airline customers." However, its
credit profile was somewhat better than expected. Aircraft lessors
are in a better position than airlines because their lease
contracts require payment regardless of whether the planes are in
use. Bankrupt airlines, if they can reorganize, may be more
inclined to keep their leased planes (such as those owned by Air
Lease) because they are mostly newer and more fuel-efficient
models. S&P expects Air Lease's credit measures to weaken somewhat
in 2021 but to improve thereafter as airline traffic and the demand
for aircraft recover, which will lead to fewer lease deferrals and
restructurings as well as fewer airline bankruptcies.



ALH PROPERTIES: Court OKs Deal Modifying Final Cash Order
---------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas approved the stipulation between ALH Properties
No. Fourteen, LP and its lender, Massachusetts Mutual Life
Insurance Company to modify the Final Cash Collateral Order that
was entered on July 6, 2021.

The Final Cash Collateral Order provides, among other things, that
the Debtor shall promptly provide information reasonably requested
by the Lender concerning the Loan Documents and comply with all
covenants and non-financial obligations under the Loan Documents
including the financial reporting requirements.  The Final Cash
Collateral Order also provides for certain Milestones requiring the
Debtor to complete certain actions within respective time periods.

The Lender requested from the Debtor certain Outstanding Personal
Financial Information and Outstanding Other Transaction Information
to be made available by September 30, 2021, without which the
Lender said it cannot reasonably evaluate a Plan Term Sheet or
other settlement proposal.  The Debtor provided the Lender a draft
Plan Term Sheet on July 22, 2021.

The Debtor's potential failure to meet a milestone on September 30
(which would constitute a default under the Final Cash Collateral
Order), its request to extend the Milestones, and the Lender's
unwillingness to extend the Milestones absent actual receipt of the
requested Outstanding Personal Financial Information and the
Outstanding Other Transaction Information, led the parties to
formulate the Stipulation.

Pursuant to the Stipulation:

     1. The Lender agrees not to oppose an extension of the
        Debtor's exclusivity periods to file a plan of
        reorganization through and including November 5, 2021,
        and to extend the Milestones in the Final Cash Collateral
        Order if the Debtor provides the Lender with the
        Outstanding Personal Financial Information and the
        Outstanding Other Transaction Information by September
        30, 2021.

     2. The parties agree that the Debtor shall complete the
        following actions within the time period indicated unless
        the Lender provides written consent to extend or waive
        the Milestone:

        a. on or before November 5, 2021, file either:

           * a disclosure statement and a plan of reorganization,
             which must be reasonably acceptable to the Lender,
             or

           * a motion seeking approval of bidding procedures and
             a sale of substantially all assets pursuant to
             Section 363 of the Bankruptcy Code;

        b. on or before December 1, 2021, obtain an order:

           * conditionally or finally approving the Disclosure
             Statement for solicitation of the Plan, if
             proceeding under paragraph 14.a.(i), or (ii)
             approving the Sale, if proceeding under paragraph
             14.a.(ii);

        c. if proceeding under paragraph 14.a.(i) and 14.b(i);

           * commence solicitation of the Plan by December 3,
             2021; and

           * obtain an order confirming the Plan on or before
             January 5, 2022;

        d. on or before January 19, 2022:

           * if proceeding with the Disclosure Statement and the
             Plan under paragraph 14.a.(i), 14.b(i), and 14.c,
             substantially consummate the Plan through, among
             other things the occurrence of the effective date of
             the Plan; or

           * if proceeding with the Sale under paragraph
             14.a.(ii) and 12.b(ii), close the Sale.

     3. If, however, the Lender alleges that the Debtor has
        failed to provide the Lender the Outstanding Personal
        Financial Information and the Outstanding Other
        Transaction Information on or before September 30, 2021,
        the Lender may file a notice of non-compliance in the
        Debtor's Chapter 11 case; and

     4. Upon the filing of the Non-Compliance Notice, the Debtor
        shall have seven calendar days to file any pleading
        controverting the Non-Compliance Notice.  The Non-
        Compliance Notice shall not be construed as (i) a Default
        Notice and/or (ii) any waiver of the Lender's right to
        deliver a Default Notice at any time.

The Parties agree to an emergency hearing on any dispute regarding
a Non-Compliance Notice and any challenge thereto by the Debtor.  A
determination by the Court that the Debtor has not complied with
the requirements set forth in the Stipulation shall nullify the
extensions and agreements between the Parties according to the
current Stipulation and Order.

A copy of the Stipulation and Order is available for free at
https://bit.ly/3AbHx8X from PacerMonitor.com.

                 About ALH Properties No. Fourteen

ALH Properties No. Fourteen, LP, owner and operator of the Embassy
Suites Discovery Green hotel in Houston, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case. No.
21-31797) on May 31, 2021. In the petition signed by Nick Massad,
Jr., president and general partner, the Debtor disclosed up to $50
million in both assets and liabilities.  Judge David R. Jones
oversees the case.

Porter Hedges LLP and The Claro Group, LLC serve as the Debtor's
legal counsel and financial advisor, respectively.

Massachusetts Mutual Life Insurance Company, as lender, is
represented by Charles A. Beckham, Jr., Esq., at Haynes and Boone,
LLP.



AMBICA M&J: Owner Files Complaint vs. Adirondack Trustee
--------------------------------------------------------
Larry Rulison of Times Union reports that hotel and restaurant
owner Niral Patel of Saratoga Springs has filed a complaint against
Adirondack Trust Co. with the state Department of Financial
Services for allegedly denying him and his family $1.9 million in
COVID-19 loans he was issued through the U.S. Small Business
Administration.

Patel and Adirondack Trust have been locked in a year-long legal
battle over the money. The bank has accused Patel of lying on his
loan applications and trying to use the funds to pay for personal
items such as his mother's mortgage.

Patel, who is Indian American, has accused the bank of racism in
denying him the funds, citing a recent $275,000 fine that
Adirondack Trust agreed to pay after being accused by the state DFS
of charging Black, Latino and Asian customers higher interest rates
than white people on car loans.

"Given the bank’s unwillingness to rectify its wrongdoing against
my family and its history of discriminating against minorities, I
felt it was time to file a complaint" with the agency, Patel said
in a statement.

DFS confirmed that the complaint was filed by Patel, but declined
to comment.

Earlier this 2021, Patel filed for Chapter 11 bankruptcy protection
for some of his businesses after he was denied the loans. Last
week, the bankruptcy judge allowed for $283,000 in loan funds to be
released to the Chapter 11 bankruptcy trustee who oversees the
case. It is unclear who will receive the money because there are
several claims by the bank, the IRS and the state taxation
department.

Adirondack Trust CEO Charles Wait Jr. said in a statement that the
bank has not yet been notified by the DFS about the complaint.

"Mr. Patel’s claims about inaccurate statements and records are
reckless and entirely false," Wait said. "We look forward to the
opportunity to refute them. We did not oppose the bankruptcy court
order because the order simply preserves the status quo. The court
ordered the transfer of the funds to the control of the bankruptcy
trustee, pending the final resolution of our claim. (Patel's)
reckless statements notwithstanding, we bear Mr. Patel and his
family no animus."

Patel is CEO of a holding company called Northeast Dining and
Lodging that owns the Comfort Inn & Suites in Saratoga Springs and
several Golden Corral buffet restaurants in Wilton and in other
upstate cities as well as in New Jersey. He also runs a catering
business.

Patel has been a customer of Adirondack Trust for decades. The bank
decided to withhold his COVID-19 loan fund obtained through the
federal Paycheck Protection Program after determining Patel did not
disclose certain debts on his application with the SBA.

Adirondack Trust sued Patel in state Supreme Court in Saratoga
County; Patel countersued before filing his DFS complaint.

The complaint asks DFS to investigate Adirondack Trust's decision
to withhold the PPP loan funds, which were supposed to help Patel
reopen his restaurants after they were forced to shut down in 2020
in the early stages of the pandemic.

Adirondack Trust has denied any accusations of racism, and said it
withheld the loan money due to the disclosures Patel failed to make
on his loan applications about previous loans he needs to repay
that were issued through a separate federal program.

                           About Ambica M&J Two

Ambica M&J Two LLC is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)), which owns property that's occupied
by the Comfort Inn & Suites Hotel and Golden Corral restaurant at
17 Old Gick Road, Saratoga Springs, New York. Maha Laxmi II Corp.
is the entity that controls the 87-room Comfort Inn. Jagdamba II
Corp. controls the Golden Corral.  The three entities are owned by
mother-and-son team Nirmala Patel and Niral Patel.

To stop a receiver from taking control of the hotel and restaurant,
Ambica M&J Two LLC, Jagdamba II Corp., and Maha Laxmi II Corp.
sought Chapter 11 protection (Bankr. N.D.N.Y. Case No. 21-10014 to
21-10016) on Jan. 11, 2021. The petitions were signed by Niral
Patel, secretary.

Ambica M&J Two estimated assets and liabilities of $1 million to
$10 million. Jagdamba II Corp. estimated assets of $500,000 to $1
million and liabilities of $10 million to $50 million. Maha Laxmi
II Corp. estimated assets of $1 million to $10 million and
liabilities of $10 million to $50 million.

The Hon. Robert E. Littlefield Jr. is the case judge.

NOLAN HELLER KAUFFMAN LLP, led by Justin A. Heller, is serving as
the Debtors' counsel.


APPLIED ENERGETICS: Registers $100 Million Worth of Securities
--------------------------------------------------------------
Applied Energetics, Inc. filed with the Securities and Exchange
Commission a Form S-3 registration statement relating to the offer
and sale of common stock, preferred stock, warrants, subscription
rights, debt securities, and units having an aggregate offering
price of $100 million.

The company may offer securities through underwriting syndicates
managed or co-managed by one or more underwriters or dealers,
through agents or directly to purchasers.  The prospectus
supplement for each offering of securities will describe in detail
the plan of distribution for that offering.

This prospectus provides a general description of the securities
the company may offer.  Each time the company offers securities, it
will provide specific terms of the securities offered in a
supplement to this prospectus.  

Applied Energetics' common stock is quoted on the OTCQB under the
ticker symbol "AERG."  On Sept. 27, 2021, the closing price of the
company's common stock was $1.65 per share.  If the company decides
to seek a listing of any preferred stock, warrants, subscriptions
rights, debt securities or units offered by this prospectus, the
related prospectus supplement will disclose the exchange or market
on which the securities will be listed, if any, or where it has
made an application for listing, if any.

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

https://www.sec.gov/Archives/edgar/data/879911/000101376221000154/ea148182-s3_appliedenergy.htm

                     About Applied Energetics

Headquartered in Tucson, Arizona, Applied Energetics, Inc. --
www.aergs.com -- specializes in the development and manufacture of
advanced high-performance lasers, high voltage electronics,
advanced optical systems, and integrated guided energy systems for
prospective defense, aerospace, industrial, and scientific
customers worldwide.

Applied Energetics reported a net loss of $3.23 million for the
year ended Dec. 31, 2020, compared to a net loss of $5.56 million
for the year ended Dec. 31, 2019.  As of June 30, 2021, the Company
had $4.83 million in total assets, $2.57 million in total
liabilities, and $2.26 million in total stockholders' equity.

Henderson, Nevada-based RBSM LLP, the Company's auditor since 2016,
issued a "going concern" qualification in its report dated April
12, 2021, citing that the company has suffered recurring losses
from operations, will require additional capital to fund its
current operating plan, and has stated that substantial doubt
exists about the company's ability to continue as a going concern.


AULT GLOBAL: Increases Stake in Medalist Diversified to 8.36%
-------------------------------------------------------------
Ault Global Holdings, Inc. disclosed in an amended Schedule 13D
filed with the Securities and Exchange Commission that as of Sept.
30, 2021, it beneficially owns 1,360,000 shares of common stock of
Medalist Diversified REIT, Inc., which represents 8.36 percent of
the shares outstanding.  

The percentage is based upon 16,266,148 shares outstanding, which
is the total number of shares outstanding as of Aug. 9, 2021, as
reported in Medalist's Quarterly Report on Form 10-Q filed with the
SEC on Aug. 10, 2021.  A full-text copy of the regulatory filing is
available for free at:

https://www.sec.gov/Archives/edgar/data/896493/000121465921010160/f101211sc13da2.htm

                     About Ault Global Holdings

Ault Global Holdings, Inc. (fka DPW Holdings, Inc.) is a
diversified holding company pursuing growth by acquiring
undervalued businesses and disruptive technologies with a global
impact.  Through its wholly and majority-owned subsidiaries and
strategic investments, the Company provides mission-critical
products that support a diverse range of industries, including
defense/aerospace, industrial, telecommunications, medical, and
textiles.  In addition, the Company extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.

Ault Global reported a net loss of $32.73 million for the year
ended Dec. 31, 2020, compared to a net loss of $32.94 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$259.10 million in total assets, $27.71 million in total
liabilities, and $231.39 million in total stockholders' equity.


BASIC ENERGY: Seeks to Hire Pachulski as Conflicts Counsel
----------------------------------------------------------
Basic Energy Services, Inc. and its affiliates seek approval from
the U.S. Bankruptcy Court for the Southern District of Texas to
hire Pachulski Stang Ziehl & Jones, LLP to serve as conflicts
counsel for Alan Carr, an independent director of the Board of
Directors' special committee.

The firm's services include assisting the independent director in
his investigation and advising the independent director and his
advisors on any matter in which they may have a conflict.

The firm's hourly rates are as follows:

     Partners            $845 - $1,695 per hour
     of Counsel          $695 - $1,275 per hour
     Associates          $695 - $750 per hour
     Paraprofessionals   $425 - $460 per hour

Bradford Sandler, Esq., a partner at Pachulski, disclosed in a
court filing that he is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Bradford J. Sandler, Esq.
     Pachulski Stang Ziehl & Jones LLP
     440 Louisiana Street, Suite 900
     Houston, TX 770
     Tel: 212-561-7700/713-691-9385
     Fax: 713-691-9407
     Email: bsandler@pszjlaw.com
            info@pszjlaw.com

                    About Basic Energy Services

Basic Energy Services, Inc. -- http://www.basices.com/-- provides
wellsite services essential to maintaining production from the oil
and gas wells within its operating areas.  Its operations are
managed regionally and are concentrated in major United States
onshore oil-producing regions located in Texas, California, New
Mexico, Oklahoma, Arkansas, Louisiana, Wyoming, North Dakota,
Colorado and Montana.  Specifically, Basic Energy Services has a
significant presence in the Permian Basin, Bakken, Los Angeles and
San Joaquin Basins, Eagle Ford, Haynesville and Powder River
Basin.

Basic Energy Services and 12 affiliates sought Chapter 11
protection (Bankr. S.D. Texas Lead Case No. 21-90002) on Aug. 17,
2021, disclosing total assets of $331 million and debt of $549
million as of March 31, 2021.  Judge David R. Jones oversees the
cases.

The Debtors tapped Weil, Gotshal & Manges LLP as bankruptcy
counsel, Alixpartners LLP as restructuring advisor, and Lazard
Freres & Company as financial advisor.  Prime Clerk is the Debtors'
claims agent.  Meanwhile, Pachulski Stang Ziehl & Jones, LLP serves
as conflicts counsel for Alan Carr, an independent director of the
Board of Directors' special committee.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases. Snow & Green,
LLP and Brown Rudnick, LLP serve as the committee's legal counsel.


BEAR VALLEY RANCH: Has Cash Collateral Access Through Nov. 2
------------------------------------------------------------
Judge Mark Houle of the U.S. Bankruptcy Court for the Central
District of California authorized Bear Valley Ranch Market & Liquor
Inc. to use cash collateral through and including November 2, 2021,
to pay for business expenses based on the budget it filed with the
Court, subject to a 10% variance.

All parties asserting a lien or interest against the cash
collateral are granted a replacement lien on all postpetition
property of the Debtor, to the same extent, validity and priority
existing as of the Petition Date (except for causes of action) for
the diminution in the value of lien or interest as of the Petition
Date.

A copy of the order is available for free at https://bit.ly/2Yk4h9u
from PacerMonitor.com.

A further hearing on the Debtor's use of cash collateral will be
held at 2 p.m. on November 2, 2021.

              About Bear Valley Ranch Market & Liquor

Bear Valley Ranch Market & Liquor Inc. owns and operates a single
market and liquor store located at 32475 Clinton Keith Road, Suite
111-112, Wildomar, Calif.

Bear Valley Ranch filed a petition for Chapter 11 protection
(Bankr. C.D. Cal. Case No. 21-14536) on Aug. 24, 2021, listing as
much as $500,000 in both assets and liabilities.  Salam Haddad,
president of Bear Valley Ranch, signed the petition.  Judge Mark
Houle oversees the case.  The Law Offices of J. Luke Hendrix serves
as the Debtor's legal counsel.



BIZGISTICS INC: Has Interim Cash Collateral Access Thru Oct. 20
---------------------------------------------------------------
Judge Roberta Colton of the U.S. Bankruptcy Court for the Middle
District of Florida granted through October 20, 2021, the motion to
use cash collateral filed by Bizgistics, Inc. on a second interim
basis, a proceeding memo filed in the Court dockets disclosed.

A copy of the proceeding memo is available for free at
https://bit.ly/2ZRLtPv from PacerMonitor.com.

                       About Bizgistics Inc.

Bizgistics, Inc. is a Rydal, Pa.-based company that provides
freight transportation arrangement services.

Bizgistics filed a petition for Chapter 11 protection (Bankr. M.D.
Fla. Case No. 21-02197) on Sept. 12, 2021, listing as much as $10
million in both assets and liabilities. Darrell Giles, chief
executive officer and director, signed the petition.  Underwood
Murray, P.A. serves as the Debtor's legal counsel.


BONANZA CREEK: S&P Assigns 'B+' Preliminary ICR, Outlook Stable
---------------------------------------------------------------
S&P Global Ratings assigned its 'B+' preliminary issuer credit
rating to Bonanza Creek Energy Inc. (BCEI) and a preliminary rating
of 'BB-' on the senior notes. The recovery rating of '2' indicates
its expectation for substantial recovery (70%-90%; round estimate:
85%) of principal in the event of payment default.

The outlook is stable, reflecting S&P's expectation that the
transaction will close as expected and the company will maintain
funds from operation (FFO) to debt of more than 60% over the next
12 months.

Colorado-based oil and gas exploration and production (E&P) company
Civitas Resources Inc. will form as a result of the merger of
Bonanza Creek Energy Inc. (BCEI), Extraction Oil & Gas Inc. (XOG),
and Crestone Peak Resources (CPR). S&P Global Ratings expects the
transaction to close around November 1, 2021.

S&P assigned a preliminary 'B+' rating to Civitas pending the
BCEI/XOG/CPR merger.

S&P said, "Our rating reflects the company's pro forma midsize
proved reserve and production base, 577 million barrels of oil
equivalent (boe) and 156,000 boe per day respectively, its
concentration in Colorado's Denver-Jules (DJ) Basin, which we view
as having higher regulatory risk relative to most other U.S.
basins, and expectation of strong financial measures, reflecting
the conservative financing of the XOG and CPR transactions."

The roll-up of BCEI, XOG, and CPR will provide a diversified asset
base within the DJ Basin, although the region carries higher
regulatory risk.

Pro forma for the mergers, Bonanza will have a diversified reserve
and production base within the DJ Basin, encompassing a blend of
both rural and suburban locations. The company will have 525,000
net acres in the basin, primarily in Weld, Adams, and Arapahoe
counties. S&P expects the company to focus its near-term drilling
activity on its Southern assets (estimated at 125,000 net acres).
Additionally, the company hopes to receive approval for a
Comprehensive Area Plan in this area in 2022, which could provide a
platform for further permitting of up to 150 locations. S&P said,
"Nevertheless, Bonanza and its Colorado-based peers, including PDC
Energy and Great Western Petroleum, in our view face heightened
regulatory risk from recently enacted drilling regulations that
could impede or limit future drilling activity, especially near
more populated areas that we believe could face more difficult
permitting approvals."

Ratings benefit from strong expected financial performance.

S&P said, "Following the restructurings of BCEI in 2017 and XOG in
early 2021, the combined entity will have very low debt levels, and
we expect credit measures to be strong for the rating going
forward, with FFO to debt averaging over 100% through 2022, and
debt to EBITDA of about 0.6x over the same period. We believe this
should help Bonanza successfully navigate future price cycles,
maintaining healthy financial measures during periods of weak
prices. Nevertheless, the company's relatively large dividend,
expected to be about $160 million per year following the mergers,
will weigh on its discretionary cash flow generation, particularly
under our long-term price assumptions of $50 per barrel West Texas
Intermediate (WTI) crude oil and $2.50 per mmBtu Henry Hub natural
gas. We expect Bonanza to remain a consolidator within the DJ Basin
and fund acquisitions in a conservative manor.

"The stable outlook reflects our expectation that the mergers will
close as expected and the company will maintain FFO to debt greater
than 60% over the next 12 months. We expect Bonanza to continue to
successfully navigate the evolving permitting process in Colorado,
especially in its Southern region, which is typically more
populated and may face more challenging permitting processes. We
expect the company to continue to consolidate its position in the
DJ Basin, and to fund acquisitions in a manner that maintains its
balance sheet strength.

"We could lower our rating if FFO/debt approaches 45%, most likely
due to a period of prolonged low oil and natural gas prices, or
Bonanza adopts a more aggressive financial policy that results in
leveraging acquisitions and/or debt-funded shareholder returns.
Alternatively, we could lower ratings if the company is unable to
successfully navigate the Colorado regulatory environment, leading
to a material negative effect on development plans.

"We could raise our rating if the company establishes a record of
successfully integrating acquisitions, while increasing scale in
the DJ Basin, and maintaining conservative financial policies that
support FFO/debt above 60% and positive discretionary cash flow."



CALPLANT I: Files for Chapter 11 to Cut Debt, Find Buyer
--------------------------------------------------------
CalPlant I LLC, a muni-financed maker of rice-based fiberboard in
California, filed for bankruptcy on Tuesday, October 5, 2021, with
plans to slash debt and sell itself.

CalPlant I, LLC, announced it has entered into a Plan Support
Agreement (the "PSA") with its senior bondholders, while pursuing a
sale of the Company. The PSA provides for a comprehensive financial
restructuring of the Company's debt and the investment resources to
complete the commissioning of the Company's manufacturing facility,
and first ever rice straw-based MDF.

To facilitate the sale process and implement the PSA, the Company
has voluntarily filed for Chapter 11 protection in the U.S.
Bankruptcy Court for the District of Delaware. The Company will
continue to operate in the normal course without disruption to its
vendors, customers, or employees, and will have sufficient
liquidity to meet its financial obligations throughout the
restructuring process.

Jeffrey Wagner, CalPlant's Executive Chairman, commented, "The road
to fully commissioning our plant has not been smooth. We started
commissioning our facility in early March 2020, then the pandemic
hit. Suddenly, the usual challenges and delays associated with a
startup were compounded with navigating a startup using
first-of-its-kind technology during a global pandemic. Still, our
team remained dedicated, resilient, and ready to pivot to continue
our momentum towards completion. Today's actions are a testament to
our team's relentless determination to continue pressing forward
despite the numerous road bumps we have hit along the way."

CalPlant is ideally located in the Sacramento Valley, an area
estimated to have an annual historical quantity of over 1.5 million
tons in rice straw waste. Once operating at full capacity, the
Company expects to process around 280,000 tons of otherwise
non-recyclable rice straw from its surrounding regions per year to
produce sustainable MDF products. This pioneering process will help
eliminate the need for post-harvest re-flooding, thus reduce water
usage and methane emissions to help drive local and global economic
development and transformation.

"We are confident that leveraging the benefits of the Chapter 11
process will allow us to emerge with a stronger financial structure
that enables us to continue leading the manufacturing industry with
innovative sustainable MDF," Wagner continued. "We are also
encouraged and thankful to have the support of our bondholders and
Board of Directors, which we believe represents their confidence in
our plan of reorganization and our ongoing operations and we expect
to move efficiently and successfully through this voluntary
restructuring and sale process."

The Company has secured commitments for up to $30.1 million in
Debtor-in-Possession (DIP) financing from certain of the Company's
senior bondholders to support the business during the Chapter 11
process. Subject to court approval, CalPlant estimates that
substantially all trade vendors who will have an ongoing business
relationship with the Company will be paid for goods and services
in the normal course of business without interruption.

Wagner added, "We want to thank our CalPlant team for their
continued dedication and commitment to what our Company is working
hard to achieve. Their resilience and passion gives me great
confidence in our ability to successfully exit this process even
stronger, allowing us to continue our commitment to innovate
products and solutions that create a positive impact on our
environment."

Wagner concluded, "We also want to thank our supply base, including
our rice farmers, balers and transportation partners, who play an
invaluable role in putting our innovative products into the
marketplace. We could not achieve success without them, and we
greatly appreciate their ongoing support as we work to strengthen
our capital structure for a mutually beneficial long-term
partnership. Finally, we thank our customers for their continued
patience and support as we continue to innovate and improve our
product mix to provide the best eco-friendly MDF in the market."

CalPlant intends to conduct a court-supervised sale process and
complete the sale through a Chapter 11 plan. CalPlant expects that
the deadline to submit qualified binding bids will be established
at a later date pursuant to bidding and sale procedures to be
approved by the court.  Interested parties should contact Sheon
Karol, skarol@paladinmgmt.com, (646) 391-6913, or Peter Richter,
prichter@paladinmgmt.com, (630) 291-6027.

Additional information, including court filings and other documents
related to the Chapter 11 case, are available at
https://cases.primeclerk.com/calplant, by calling (877) 677-6566
(Toll-Free) or (929) 298-3984 (International), or by emailing
inquiries to calplantinfo@primeclerk.com.

                        About CalPlant I LLC

CalPlant I LLC is a Northern California-based company focused on
manufacturing sustainably-sourced building products, including the
creation of the world's first no-added-formaldehyde, rice
straw-based medium density fiberboard, Eureka MDF.

CalPlant CalPlant and its predecessor company, CalAg, LLC, have
spent many years researching, developing, and patenting a process
to make high-quality MDF using annually renewable rice straw as the
feedstock, the disposal of which has posed environmental issues in
California for decades.  CalPlant -- http://www.eurekamdf.com/--
is the world's first commercial-scale manufacturer of
no-added-formaldehyde, rice straw-based MDF.

CalPlant I Holdco, LLC, and CalPlant I, LLC, sought Chapter 11
protection (Bankr. D. Del. Case No. 21-11302 and 21-11303) on Oct.
5, 2021.  The cases are handled by Honorable Judge John T. Dorsey.


CalPlant I Holdco estimated $50 million to $100 million in assets
and up to $50,000 in liabilities as of the bankruptcy filing.
CalPlant I, LLC estimated $100 million to $500 million in assets
and liabilities.

The Debtors tapped MORRISON & FOERSTER LLP as bankruptcy counsel;
MORRIS JAMES LLP, as local bankruptcy counsel; and PALADIN
MANAGEMENT GROUP as financial advisor.  PRIME CLERK LLC is the
claims agent.


CASTLELAKE AVIATION: Fitch Gives 'BB(EXP)' to $420MM Unsec. Notes
-----------------------------------------------------------------
Fitch Ratings expects to assign a 'BB(EXP)' rating to Castlelake
Aviation Finance DAC's (CAF) proposed $420 million issuance of
senior unsecured notes. The proceeds will be used to fund the
purchase and transfer of aircraft assets from funds and entities
managed by Castlelake L.P.

KEY RATING DRIVERS

The expected senior unsecured debt rating is equalized with CAF's
expected Long-Term Issuer Default Rating (IDR) reflecting
expectations for average recovery prospects in a stressed scenario
given the availability of unencumbered assets.

CAF's expected Long-Term IDR is equalized with that of parent,
Castlelake Aviation Limited (CA), given it is a wholly owned
debt-issuing subsidiary.

CA's expected ratings are supported by its young fleet with one of
the longest weighted average remaining lease terms amongst peers,
adequate targeted leverage, the absence of order book purchase
commitments, lack of near-term debt maturities and strong expected
liquidity metrics. The ratings also consider the company's
affiliation with Castlelake L.P., which has an established position
as a lessor of midlife and older commercial aircraft, management
experience and a track record in underwriting, servicing and
managing a sizable global aircraft portfolio.

The expected rating is constrained by execution risks associated
with the company's aggressive, albeit potentially attainable,
growth targets and accompanying financing objectives. Additional
rating constraints include a largely secured expected funding
profile, a smaller and significantly concentrated portfolio by
customer and geography at inception relative to other aircraft
lessors, lower than peer exposure to narrowbody aircraft, higher
than average exposure to weaker credit airlines, and weaker
projected profitability over the next two years. Fitch also notes
potential governance and conflict of interest risks associated with
Castlelake's externally-managed business model, limited number of
independent board members and ownership by a fixed-life private
fund structure.

Rating constraints applicable to the aircraft leasing industry more
broadly include the monoline nature of the business; vulnerability
to exogenous shocks including the ongoing challenges facing the
aviation sector as a result of the coronavirus pandemic; potential
exposure to residual value risk; sensitivity to oil prices;
reliance on wholesale funding sources; and increased competition.

Fitch expects the issuance of $420 million of senior unsecured
notes will diversify CA's funding profile, resulting in unsecured
debt representing slightly above 20% of the firm's total debt at
inception. Fitch expects CA will rely predominantly on secured
borrowings to fund its operations, however, additional issuances of
unsecured debt would be viewed favorably as it would increase
unencumbered assets and improve the company's financial
flexibility.

The Stable Rating Outlook reflects Fitch's expectation that CA will
manage its balance sheet growth in order to maintain sufficient
headroom relative to its targeted leverage range and Fitch's
negative rating sensitivities over the Rating Outlook horizon. The
Stable Rating Outlook also reflects expectations for the
maintenance of a strong liquidity position, given the lack of order
book purchase commitments with aircraft manufacturers.

RATING SENSITIVITIES

The expected senior unsecured debt rating is primarily sensitive to
changes in CAF's Long-Term IDR and secondarily to the relative
recovery prospects of the instruments. A decline in unencumbered
asset coverage, combined with a material increase in secured debt,
could result in the notching of the unsecured debt down from the
Long-Term IDR.

Upon establishment of the aircraft portfolio, execution of the term
loan B and execution of an unsecured debt issuance, Fitch would
expect to convert CA's and CAF's expected IDRs to final IDRs.
Failure to execute on the aircraft asset transfer, secured funding
and unsecured debt issuance could result in the expected ratings
being withdrawn or revised down.

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

Long-Term IDR

-- Assuming the aircraft asset transfer is completed and the
    secured term loan B and unsecured notes are closed, CA's
    ratings could be, over time, positively influenced by solid
    execution with respect to planned growth targets and outlined
    long-term strategic financial objectives, including
    maintenance of leverage within the targeted range. Ratings
    could also benefit from enhanced scale and improved risk
    profile of the portfolio, as exhibited by stronger lessee
    diversification, reduced exposure to weaker airlines,
    maintenance of the impairment ratio below 1%, and increases in
    the proportions of Tier 1 aircraft and narrowbody aircraft.

-- An upgrade would be also conditioned upon achieving a
    sustained return on average assets in excess of 2.5% and
    unsecured debt approaching or in excess of 35% of total debt,
    while achieving and maintaining unencumbered assets coverage
    of unsecured debt in excess of 1.0x. Any potential upward
    rating momentum would also be evaluated in the context of
    potential governance and conflict of interest risks associated
    with CA's externally managed business model, limited number of
    independent board members and ownership by a fixed-life
    private fund structure.

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

-- CA's ratings are sensitive to renewed pandemic-driven
    lockdowns and travel restrictions as this would further
    pressure the airline industry and could lead to lease
    restructurings, lessee defaults and increased losses. A
    weakening of the company's projected long-term cash flow
    generation, profitability and liquidity position and/or a
    sustained increase in leverage above 4x would also be viewed
    negatively.

BEST/WORST CASE RATING SCENARIO

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



CASTLELAKE AVIATION: Moody's Rates New Senior Unsecured Notes 'B2'
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to the senior
unsecured notes proposed to be issued by Castlelake Aviation
Finance DAC (Castlelake Aviation).

Castlelake Aviation's Ba3 corporate family rating and Castlelake
Aviation One DAC's (a wholly-owned subsidiary of Castlelake
Aviation) Ba3-rated proposed term loan were not affected by the
rating action.

Castlelake Aviation and Castlelake Aviation One DAC's outlooks is
unchanged at positive.

Assignments:

Issuer: Castlelake Aviation Finance DAC

GTD Senior Unsecured Regular Bond/Debenture, Assigned B2

RATINGS RATIONALE

The B2 rating assigned to Castlelake Aviation's proposed senior
unsecured notes reflects the notes' junior position in the
company's capital structure, with their being subordinated to a
substantial amount of secured debt. This secured debt includes
Castlelake Aviation's $750 million secured revolving facility due
2024 and Castlelake Aviation One DAC's $1.2 billion proposed senior
secured term loan due 2026. The debt instrument ratings are based
on the application of Moody's Loss Given Default for
Speculative-Grade Companies methodology and model.

Castlelake Aviation's Ba3 CFR reflects Moody's expectation of its
improving profitability, good equity capital and stable fleet
utilization, which are likely to benefit from better prospects of
domestic travel. Moody's currently expects that global air
passenger demand will recover toward 2019 levels through 2023, but
the recovery will be uneven due to varying vaccination rates and
may be delayed by the spread of COVID-19 variants. These credit
strengths are tempered by high lessee concentration and reliance on
secured debt for funding, although the company has plans to shift
its funding to a greater composition of unsecured debt. Moody's
expects that Castlelake Aviation will benefit from its management
and servicing relationship with Castlelake Aviation Holdings
(Ireland) Limited, a wholly owned subsidiary of Castlelake, L.P.
(together, "Castlelake"), which has a long-term history of placing
aircraft and managing relationships across the world. Moody's also
anticipates that Castlelake Aviation will maintain a good liquidity
position supported primarily by good free cash flow generation and
a healthy level of retained cash.

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

The ratings could be upgraded if Castlelake Aviation decreases its
reliance on secured debt such that its secured debt to tangible
managed assets is less than 50%, demonstrates solid debt maturities
management while also maintaining consistent profitability as
defined by net income to total assets of above 1.0% (not including
gain on sale of the aircraft), and debt / equity leverage remains
below 3.0x.

The ratings could be downgraded if Castlelake Aviation suffers from
a deterioration in earnings such that profitability as defined by
net income to total assets is sustained below 1% or if overall
liquidity declines, including funds from operation being below 6%
of total debt, or if it disposes of aircraft assets on unfavorable
terms.

The principal methodology used in this rating was Finance Companies
Methodology published in November 2019.

Incorporated in Cayman Islands, Castlelake Aviation Finance DAC
(Castlelake Aviation) is a newly formed entity that will specialize
in leasing of commercial aircraft globally. Castlelake Aviation
will ultimately be owned by funds and accounts managed by
Castlelake , an aviation platform with a fleet of 352 aircraft with
assets of $20.2 billion at June 1, 2021. Upon the date the proposed
financing transactions are anticipated to close, Castlelake
Aviation will have 71 aircraft in its portfolio at  $2.6 billion in
total assets.



CLEAN ENERGY: Signs Securities Purchase Deal With Geneva Roth
-------------------------------------------------------------
Clean Energy Technology, Inc., entered into a Securities Purchase
Agreement dated as of Sept. 28, 2021, and a $142,720 Original Issue
Discount Note due Sept. 28, 2021 with interest at 10% per annum
with Geneva Roth Remark Holdings Inc., a New York corporation.

Under the terms of the Note, the original issue discount is
$14,720.00, netting the Company $128,000.  Principal and interest
is to be paid in 10 monthly payments commencing Nov. 15, 2021, in
the amounts of $15,003.00 per month, with a 5 day grace period for
each payment.  An event of default under the Note occurs for the
failure of the Company to pay interest and principal after the
application of the grace period, breach of covenants,
representations and warranties, receivership and bankruptcy,
delisting of the Company's stock, failure to comply with timely
filings with the Securities and Exchange Commission, financial
restatements, cross defaults with agreements and other notes with
Geneva, and replacement of the transfer agent.  Upon an event of
default, the Note will become immediately payable and the Company
shall be required to pay 150% of the sum of the outstanding
principal amount and accrued interest at default interest rate of
22%.  If the default amount is not paid within 5 days of the event
of default Geneva may convert such outstanding amounts into common
stock of the Company at a 30% discount to the lowest closing bid
price for the common stock for the five trading days prior to
conversion, subject to Geneva's ownership limitation of 4.99%
ownership at any time prior to the full conversion of stock.

The Securities Purchase Agreement contains representations,
warranties, covenants and events of default customarily found in
similar transactions.

                        About Clean Energy

Headquartered in Costa Mesa, California, Clean Energy Technologies,
Inc. -- http://www.cetyinc.com-- designs, produces and markets
clean energy products and integrated solutions focused on energy
efficiency and renewables.

Clean Energy reported a net loss of $3.44 million for the year
ended Dec. 31, 2020, compared to a net loss of $2.56 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$5.84 million in total assets, $8.23 million in total liabilities,
and a total stockholders' deficit of $2.39 million.

Spokane, Washington-based Fruci & Associates II, PLLC, the
Company's auditor since 2015, issued a "going concern"
qualification in its report dated April 15, 2021, citing that the
Company has an accumulated deficit, net losses, negative working
capital, and has utilized significant net cash in operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


CONDUENT INC: S&P Rates New $520MM Senior Secured Notes 'BB-'
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' rating and '2' recovery
rating to Conduent Inc.'s proposed $520 million senior secured
notes due in 2029. The '2' recovery rating indicates its
expectation for substantial (70%-90%; rounded estimate: 75%)
recovery for lenders in the event of a payment default.
Subsidiaries Conduent Business Services LLC and Conduent State &
Local Solutions Inc. are issuing the new debt.

Conduent will use the proceeds to help refinance its capital
structure along with its previously announced $550 million senior
secured revolving credit facility due in 2026, $265 million senior
secured term loan A due in 2026, and $515 million senior secured
term loan B due in 2028. S&P said, "Our stable outlook on Conduent
reflects our expectation for adjusted leverage to remain in the
mid-4x area, flat revenue performance over the next 12 months, and
the successful execution of the refinancing transaction. We
forecast new business wins will offset the roll-off of legacy
contracts as well as high economic stimulus-related volumes in its
government payments business."



COSMOLEDO LLC: Trustee Asks Court Okay for $1.8 Million FLSA Deal
-----------------------------------------------------------------
Rick Archer of Law360 reports that the liquidation trustee for the
former U.S. operator of French bakery chain Maison Kayser,
Cosmoledo LLC, asked a New York bankruptcy judge Tuesday, Oct. 5,
2021, to approve a $1.8 million settlement of class action claims
that the company shortchanged employees by deducting pay for meal
breaks they didn't take.  

The trustee overseeing what remains of Cosmodelo LLC's assets after
its bankruptcy case concluded last month filed a joint motion with
the class representatives saying the deal will settle the $10
million in claims the class asserted in the company's Chapter 11
proceeding.

William H. Henrich (the "Liquidation Trustee") and prospective
class representative (the "Class Representative") S.D. Ryan Lieble
("Lieble"), on behalf of himself and similarly situated prospective
class members filed a motion seeking entry of an order (a)
preliminarily approving the terms of the class action settlement,
(b) certifying the class for settlement purposes, (c) appointing
Lee Litigation Group, PLLC as class counsel, (d) approving the
proposed notice to the class members, and (e) scheduling a fairness
hearing to consider final approval of the Settlement.

On Nov. 29, 2018, Lieble individually and on behalf of other
similarly situated individuals, filed a class and collective action
complaint in the United States District Court for the Southern
District of New York against the Debtors, alleging that the Debtors
violated the rights of Lieble and other similarly situated
employees under the U.S. Fair Labor Standards Act ("FLSA") and New
York Labor Laws ("NYLL").  Through the Complaint, Lieble sought to
recover damages for unpaid minimum wage, unpaid wages for all hours
worked due to improper meal break deductions, liquidated damages,
statutory penalties, and attorneys' fees and costs.

The terms of the Settlement provide for an allowed general
unsecured claim of $1,800,000 (the "Allowed Class Claim") against
the Debtors and the disallowance and expungement of all other
claims file by any of the Plaintiffs related to the Complaint.  The
Allowed Class Claim is entirely in respect of the NYLL claims and
the Settlement should be deemed in all relevant respects a
settlement of the NYLL claims.  As such, upon the full and final
approval of the Settlement, the Settlement will be deemed to
constitute, or require, as the case may be, the withdrawal of the
FLSA claims in their entirety and with prejudice.  The NYLL
provides workers with greater rights and protections than does the
FLSA.  Therefore, all potential members of the proposed FLSA
collective are also members of the proposed NYLL class and no
prejudice to any former employee will result from the withdrawal of
such claims.  

Since the Plan of Liquidation has been approved by the Court and
the Liquidation Trustee will shortly commence distributions to
holders of allowed general unsecured claims prior to the final
approval of the Settlement, the Liquidation Trustee shall establish
a reserve for the benefit of the Plaintiffs, with the proceeds of a
pro rata share on the Allowed Class Claim of all amounts available
for distribution to allowed general unsecured claims of the
Debtors.  The Reserve, if any, shall be disbursed to the Settlement
Administrator upon the final approval of the Settlement.  All
distributions made upon allowed general unsecured claims after the
final approval of the Settlement shall be made directly to the
Settlement Administrator.

                        About Cosmoledo LLC

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

Cosmoledo and its affiliates, including Breadroll, LLC, sought
Chapter 11 protection (Bankr. S.D.N.Y Lead Case No. 20-12117) on
Sept. 10, 2020. In the petitions signed by CEO Jose Alcalay, the
Debtors were estimated to have assets in the range of $10 million
to $50 million, and $50 million to $100 million in debt.

Judge Michael E. Wiles oversees the cases.

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

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


COTY INC: S&P Alters Outlook to Positive, Affirms 'B-' ICR
----------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on Coty
Inc. and revised the outlook to positive from negative.

S&P said, "At the same time, we affirmed our 'B' issue-level rating
on its senior secured debt, and our 'B-' issue-level rating on its
senior unsecured debt. The '2' recovery rating on the company's
senior secured debt reflects our expectation for substantial
(70%-90%; rounded estimate: 75%) recovery in the event of payment
default. The '4' recovery rating on the company's senior unsecured
debt reflects our expectation for average (30%-50%; rounded
estimate: 45%) recovery for lenders in the event of payment
default."

Coty Inc.'s recently announced sale of about 9% stake in Wella AG
and redemption of a portion of preferred equity owned by financial
sponsor KKR has improved its credit measures.

S&P said, "We expect that the company will continue to benefit from
higher sales volumes and successful implementation of its
transformation plan, resulting in a significant improvement in
adjusted leverage from the high levels at year-end fiscal 2021.

"The positive outlook reflects the potential that we will raise our
rating on Coty if it continues to successfully execute its
transformation plan, increases sales and profitability, and uses
proceeds from asset sales and the Brazilian IPO for debt repayment,
resulting in leverage declining to the low-6x area by the end of
fiscal 2022.

"The positive outlook reflects our expectation that Coty's credit
measures will improve on a sustained basis due to capital structure
changes and improved operating efficiency. Coty recently announced
that it has entered into an agreement to sell about 9% of its stake
in Wella AG to KKR in exchange for redemption of about 50% of KKR's
convertible shares and accrued dividends. This will lead to a
reduction in the value of the total preferred equity owned by KKR
to about $278 million, equivalent to 5.2% of Coty's outstanding
class A common equity on an as-converted basis compared to $1.1
billion or 18% equivalent at the end of fiscal 2021 (ended June
2021). We expect future annual dividend payouts to preferred equity
holders to decrease by about $26 million to about $45 million. In
addition, this transaction reduces our measure of consolidated
leverage by about 0.5x, given our treatment of the company's
preferred equity as a debt-like obligation.

"Coty's stake in Wella AG has declined to 30.6% following the
transaction. We believe this transaction is an important step
toward simplifying the company's business further and allowing it
to focus more intently on its core cosmetics and fragrance
businesses, while also looking to expand in skincare. It also
reiterates the company's commitment and disciplined approach
towards asset sales and debt reduction. The sale of a portion of
Coty's stake signals that further sell-downs are possible, which we
believe could help reduce the company's leverage further. Coty's
remaining stake in Wella is valued at $1.4 billion.

"We expect new management to remain committed to its leverage
target of 5x (low-6x with S&P Global Ratings' adjustments), which
we believe is achievable in fiscal 2022. Pro forma leverage for the
last 12 months ended June 30, 2021, declined to about 9.9x as a
result of the recent redemptions of KKR's preferred convertible
shares. We believe Coty will continue to use cash proceeds from its
Brazilian IPO and additional sales of its stake in Wella toward
debt repayment, which we estimate will exceed $500 million in
fiscal 2022. The reduction in consolidated debt levels, combined
with strong EBITDA growth, should result in leverage declining to
the low-6x area, compared to our previous forecast of 7.3x. We
expect Coty to allocate capital prudently and continue to look for
opportunities for potential asset dispositions to further
streamline its portfolio. We do not expect the company to resume
dividend payments to equity holders or undertake share repurchases
before leverage is lower than its targets. Moreover, we expect
voluntary debt repayments to help improve the cushion under the
company's net leverage covenant over the next few quarters to
around 15%.

"Coty has $114 million outstanding balance on the term loan A
maturing in April 2023 that we expect to be repaid by the end of
2021. Its largest upcoming maturity is the EUR550 million senior
unsecured euro notes in April 2023 that we assume will be
refinanced at satisfactory terms. The company also has a balance of
$2.1 billion of its revolving credit facility maturing in April
2023. We believe the company's ability to receive a broad
syndication for its $700 million extended tranche of the revolving
credit facility reflects Coty's access to multiple sources of
capital and well-established and solid relationships with its
banks. We expect the company to complete the refinancing of
majority of the remaining revolver facility by the end of 2021.
Coty has about $250 million cash on the balance sheet that we
believe includes some cushion due to the uncertain macro
environment amid the pandemic and persistent supply chain
disruptions from inflation and port congestion. We will continue to
monitor its performance against these trends.

"We expect tailwinds in the fragrances and cosmetics segments and
Coty's transformation plan to contribute to sales and profitability
growth in 2021 and 2022. Coty's performance at the point-of-sales
channels in the U.S. mass cosmetics segment has improved markedly
since the fourth quarter of fiscal 2021, after facing many periods
of weak performance. We view the steps taken by the management to
refocus CoverGirl's advertising as positive and expect the brand to
continue to grow profitably. We also recognize the brand
repositioning efforts undertaken by Coty for its owned brands
Rimmel and MaxFactor as key to support strong organic growth in the
mass segment of the company's business.

"We expect the U.S. prestige fragrance market to continue to grow
strongly compared to the same period in 2019 supported by strong
consumer demand. Coty also has a strong innovation pipeline with
key fragrance launches under the brands Gucci, Burberry and Calvin
Klein. In addition, we expect the international expansion of Kylie
Cosmetics to further support sales and profitability growth. We
believe that the continuation of the company's recent good
performance is highly dependent upon its ability to maintain recent
market share gains and leverage strategic and operational
improvements. Given the short operating track record of its current
management team, which is handling the execution of its
transformation strategies, we believe there are inherent risks
associated with the company's ongoing transformation strategy.

"The positive outlook reflects the potential that we will raise our
rating on Coty if the company continues to successfully execute its
transformation plan and increases sales and profitability resulting
in leverage declining to the low-6x area by the end of fiscal
2022."

S&P could raise its rating on Coty if:

-- It builds on its current operating momentum with revenue and
EBITDA margins in line with S&P's forecast and it believes it has
established a successful record of retaining its market shares and
sustaining its improved cost structure; and

-- It successfully executes its strategy of utilizing all excess
cash proceeds, including from future asset sales and the Brazilian
IPO, for debt reduction that supports reducing and sustaining
leverage below the mid-6x area.

S&P could revise the outlook to stable if it expects adjusted
leverage to remain above 6.5x, which could occur due to:

-- A resurgence of COVID-19 variants causes reimposition of
restrictions on consumer mobility leading to demand for the
company's products remaining weak, resulting in material organic
revenue declines; or

-- An operational misstep, a worsening macro environment,
heightened competition, higher inflation or additional
restructuring charges stall sales and profit recovery prospects.



CRCI LONGHORN: S&P Alters Outlook to Positive, Affirms 'B-' ICR
---------------------------------------------------------------
S&P Global Ratings revised its outlook on CRCI Longhorn Holdings
Inc. (d/b/a CLEAResult) to positive from stable and affirmed all
its ratings, including its 'B-' issuer credit rating.

The positive outlook reflects the potential for an upgrade within
the next 12 months if S&P become more certain that improved
operating performance and tempered financial policy choices will
result in adjusted leverage to be sustained below 7x.

CLEAResult expanded margins during the pandemic despite the
challenging macroeconomic environment. The company has demonstrated
solid execution during the pandemic and improved its
adjusted-EBITDA margins by 340 basis points in 2020, compared to
2019. The business appears to have stabilized, and during the
second quarter ended June 30, 2021, revenue jumped by more than
15%, and the past 12 months (LTM) adjusted EBITDA climbed to about
$82 million from $77 million. It resulted in adjusted debt to
EBITDA to fall to 7.0x ended June 30, 2021, from 7.6x in the
previous year. CLEAResult benefitted from its ability to switch its
contracts with its clients to fixed fee and time and material,
which allowed it to navigate the pandemic.

Additionally, the company implemented sharp cost cuts, some of
which are likely to remain permanent. S&P said, "For the year ended
2021, we forecast revenue growth of about 7%; however, revenue will
remain slightly lower than prepandemic revenue in 2019. Margins are
likely to expand from 2019 levels due to the return to normalized
activities with the previous year's costs restructuring initiative.
We estimate that adjusted leverage will be in the low-7x by the end
of fiscal year 2021 (Dec. 31), with free operating cash flow (FOCF)
to debt around 7%."

Moreover, CLEAResult has a good liquidity position to fund its
operations and fund modest-size acquisitions. As of the quarter
ended June 30, 2021, the company had about $96 million in
unrestricted cash and full availability under its $85 million
revolver. S&P expects the company to pursue organic and inorganic
growth and continue its strategy of expanding its higher-margin
commercial and industrial (C&I) business.

Favorable tailwinds support the energy solutions industry. S&P
believes increasing regulatory requirements supporting or mandating
the adoption of energy-efficiency programs will support growth,
high contract renewal rates (more than 94%), and provide good
revenue visibility. More specifically, the expansion of statewide
energy efficiency programs in California should contribute to the
company's topline in 2022 along with higher volumes in New England
as pandemic disruptions are lifted and growth opportunities in
Canada develop with federally funded energy programs. Additionally,
favorable tailwinds from the proposed federal government
infrastructure bill earmarks funds for state energy efficiency
programs.

The positive outlook reflects the potential for an upgrade over the
next 12 months if S&P becomes more certain that improved operating
performance and tempered financial policy choices will result in
adjusted leverage sustained below 7x.

S&P could raise its rating on CLEAResult if:

-- The company continutes to demonstrate good operating
performance;

-- S&P expects adjusted leverage will be sustained below 7x with
FOCF-to-debt in the mid- to high-single digit percent range.

S&P said, "We could revise our outlook to stable if
weaker-than-expected operating performance results in debt to
EBITDA to remain above 7x or FOCF to debt below 5%. This could
happen due to losses of key customers, persistently reduced demand,
or greater-than-expected competitive pressures. We could also
revise our outlook to stable if there is a shift toward a more
aggressive financial policy."



CYTODYN INC: Antonio Migliarese Retains CFO Post
------------------------------------------------
CytoDyn Inc. entered into an employment agreement with Antonio
Migliarese, under which he will continue to be employed as the
company's chief financial officer on an at-will basis.  The
Employment Agreement is effective as of May 18, 2021, the date of
Mr. Migliarese's promotion.  The Employment Agreement includes the
following terms regarding his compensation:

   * an annual base salary in an amount approved by the
Compensation Committee, currently $415,000;

   * Eligibility to participate in the company's short- and
long-term incentive plans in which other executive officers may
participate, with a target annual bonus equal to 50% of his base
salary; and

   * other customary benefits for which he is qualified as an
executive officer of the company.

Mr. Migliarese is also entitled to severance benefits under the
Employment Agreement as follows:

   * if Mr. Migliarese's employment is terminated by CytoDyn
without cause in the absence of a change in control of the company,
cash severance in an amount equal to 12 months of his annual base
salary when the termination occurs, payable in a lump sum equal to
3 months of his base salary on the 60th day following termination,
with the remainder paid in installments corresponding to the
company's regular payroll schedule; or

  * if CytoDyn experiences a change in control during Mr.
Migliarese's employment and, during the 12 months following the
change in control the company terminates his employment without
cause or he resigns for good reason, cash severance in an amount
equal to 18 months of his annual base salary in effect when his
termination occurs, in a lump sum payment.

In addition, all equity awards previously granted to Mr. Migliarese
under the company's Amended and Restated 2012 Equity Incentive Plan
as of the date of the Employment Agreement will become vested in
full upon termination of his employment under the circumstances
described above unless the award agreement specifically provides
otherwise.

                        About CytoDyn Inc.

Headquartered in Vancouver, Washington, CytoDyn Inc. --
http://www.cytodyn.com-- is a late-stage biotechnology company
focused on the clinical development and potential commercialization
of leronlimab (PRO 140), a CCR5 antagonist to treat HIV infection,
with the potential for multiple therapeutic indications.

Cytodyn reported a net loss of $154.67 million for the year ended
May 31, 2021, compared to a net loss of $124.40 million for the
year ended May 31, 2020.  As of May 31, 2021, the Company had
$132.08 million in total assets, $153.10 million in total
liabilities, and a total stockholder's deficit of $21.02 million.

Birmingham, Alabama-based Warren Averett, LLC, the Company's
auditor since 2007, issued a "going concern" qualification in its
report dated July 30, 2021, citing that the Company incurred a net
loss of approximately $154,674,000 for the year ended May 31, 2021
and has an accumulated deficit of approximately $511,294,000
through May 31, 2021, which raises substantial doubt about its
ability to continue as a going concern.


DANE HEATING: Gets OK on Cash Collateral Use Through Oct. 31
------------------------------------------------------------
Judge Deborah L. Thorne of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Dane Heating & Air
Conditioning, Inc. to use cash collateral through October 31, 2021
according to the budget.

The Debtor shall grant to Prepetition Secured Lender, Kapitus, LLC,
a security interest in and replacement lien on all of the Debtor's
property to the extent of diminution in the value of its
collateral, as well as an administrative expense claim under
Section 507(b) of the Bankruptcy Code.  The Debtor shall also make
adequate protection payments of $500 per month to the Prepetition
Secured Lender until further Court order.  

The Prepetition Secured Lender and all other subordinate lien
holders, including LeLund Enterprises, are granted replacement
liens to the extent of their prepetition liens according to the
priority existing as of the Petition Date.

As of the Petition Date, the Debtor owed the Prepetition Secured
Lender $4,664 on certain loan prepetition loan agreements.

A copy of the third interim order is available for free at
https://bit.ly/3l7Z4KP from PacerMonitor.com.

The Court will convene a status hearing on October 28, 2021 at 9:30
a.m.

               About Dane Heating & Air Conditioning

Dane Heating & Air Conditioning, Inc., filed a petition under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill.
Case No. 21-09701) on Aug. 18, 2021, listing up to $500,000 in
assets and up to $1 million in liabilities.  Ken Novak has been
appointed Subchapter V trustee for the Debtor.

Judge Deborah L. Thorne oversees the case.  

Springer Larsen Greene, LLC, and Schaefers Law Group, Ltd., serve
as the Debtor's bankruptcy counsel and special counsel,
respectively.



DEL MONTE FOODS: S&P Raises ICR to 'B' on Continued Deleveraging
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
Del Monte Foods Inc. to 'B' from 'B-'. S&P also raised its
issue-level rating on its debt to 'B' from 'B-'. The recovery
rating remains '3', indicating its expectation for meaningful
(50%-70%; rounded estimate: 65%) recovery in the event of a
default.

S&P said, "The stable outlook reflects our forecast for strong
revenue growth and our expectation that the company will be able to
offset inflation headwinds with productivity and pricing actions
such that leverage will be in the low-3x area in fiscals 2022 and
2023. We also expect at least break-even free cash flow generation
in 2022 and above $50 million in 2023."

The upgrade reflects continued deleveraging, driven by revenue
growth, productivity improvements, and lower debt balances. Del
Monte's sales grew about 11% in the first fiscal quarter (ended
Aug. 1, 2021) of its fiscal 2022 (ending May 1, 2022), primarily
due to strong demand for the company's shelf-stable product
portfolio of branded packaged fruits, vegetables, and beverages,
partially offset by the company's planned exit of lower-margin
private label business. U.S. consumers continue to cook more at
home than they did pre-pandemic, but the overall packaged fruit and
vegetable categories declined year-over-year due to a tough
comparison to last year's pantry-loading period at the onset of the
pandemic. Del Monte was able to overcome the tough comparison and
category declines, increasing dollar share of vegetables 17% and
fruits 8%. It underperformed the categories in tomatoes and broths,
but it believes this is due to it benefitting disproportionately in
the quarter a year ago when competitors faced supply chain issues.
Overall, the company increased its share by two points in the
quarter, primarily due to distribution gains in the club,
convenience, and dollar store channels, as well as price increases
and continued innovation. Recent innovations include riced
vegetables, "better-for-you" pocket pies, bone broths, and bubble
tea. S&P believes these innovations are key in helping Del Monte
add product diversity to its portfolio, gain shelf space with
existing customers, and win new distribution, as well as offset
potential future category declines as consumers increasingly eat
away from home and eventually shift their purchasing habits back
toward private label. In addition to robust revenue growth, the
company generated healthy profitability. The company is benefitting
from the success of its plan to pivot to an asset-light
manufacturing model and right-size its cost structure, which
eliminated about $68 million of annual costs over the past year.
The mix shift to higher-margin branded products and price increases
across all categories improved margins further. Del Monte also
continues to reduce its revolver usage compared with previous
years. This combination of EBITDA growth and lower debt balances
drove considerable deleveraging to about 3.5x through the first
fiscal quarter (compared with 3.8x at the end of fiscal 2021 and
nearly 10x in the first quarter a year ago).

Management has identified specific productivity and pricing actions
to offset most of the inflation expected this year. Like most other
food companies, Del Monte is experiencing high inflation across
commodities, packaging, labor, and transportation. S&P believes it
can offset most of the inflation this year through price increases
and productivity initiatives, including reducing overhead spending,
using rail instead of trucking freight, and reducing waste, among
other things. So far, the company reports that it has not seen any
material decline in volumes from higher prices. Historically the
category has been highly price sensitive due to heavy discounting
and a high degree of private label competition. However, since Del
Monte changed its pricing strategies and consumers have preferred
brands during the pandemic, the category is experiencing less price
elasticity. Overall, the company's products are less expensive,
shelf-stable alternatives to fresh produce, so demand could remain
strong if prices for fresh produce become excessively high, if
unemployment remains high, or if consumers continue to spend more
time at home. That said, demand for Del Monte's products could be
uneven over the next one to two years as the pandemic subsides and
the economy continues to re-open.

Leverage has improved considerably, but free cash flow generation
is still relatively weak. S&P said, "Our leverage forecast for Del
Monte might otherwise be indicative of higher ratings. However, the
company's free cash flow generation is still relatively weak,
mainly due to very high interest costs and the company's need to
increase its working capital spending to bolster inventory. The
company is no longer relying on parent Del Monte Pacific Ltd. for
working capital support. We expect modestly positive free cash flow
in fiscal 2022, improving to over $50 million by fiscal 2023. We
believe the company will refinance or replace its 11.875% senior
secured notes over the next six to 12 months with lower cost debt,
which should significantly improve cash flow generation, but this
is not yet incorporated in our base case forecast."

S&P said, "The stable outlook reflects our forecast for strong
revenue growth and our expectation that the company will be able to
offset inflation headwinds with productivity and pricing actions
such that leverage will be in the low-3x area in fiscals 2022 and
2023. We also expect at least break-even free cash flow generation
in 2022 and above $50 million in 2023."

S&P could lower the rating if leverage approached 6x or it no
longer believed the company would generate meaningful free cash
flow. This could happen if:

-- Cost savings were insufficient to offset higher input cost
inflation, leading to significant EBITDA margin erosion compared
with our expectations;

-- Revenue declined due to an inability to effectively expand
distribution or depressed demand for packaged fruits and vegetables
as the economy re-opens and consumers eat more away from home; or

-- More aggressive financial policies such as a large
debt-financed acquisition or dividend.

S&P could raise the rating if it believed the company would sustain
leverage under 5x over the long term and if it:

-- Demonstrated sustained organic growth by continuing to expand
its distribution and achieve higher average prices;

-- Demonstrated good working capital and inventory management,
resulting in consistent free cash flow generation;

-- Realized its planned pricing and productivity initiatives to
offset inflation, resulting in stable EBITDA margin; and

-- Demonstrated conservative financial policies by not making
large, debt-financed dividends or acquisitions.



EAGLE HOSPITALITY: Ready for Chapter 11 Plan After Settlement
-------------------------------------------------------------
Leslie Pappas of Law360 reports that Eagle Hospitality Group has
reached an agreement with prepetition lenders and unsecured
creditors over funding of its Singapore affiliates, allowing the
company to move forward on a restructuring plan that could wrap up
its Chapter 11 by year's end, the parties told a Delaware
bankruptcy judge Tuesday, October 5, 2021.

The settlement with Bank of America NA and the Official Committee
of Unsecured Creditors paves the way for Eagle Hospitality to put
the finishing touches on the Chapter 11 plan and resolves their
earlier objections about its timing.

                     About Eagle Hospitality Group

Eagle Hospitality Trust -- https://eagleht.com/ -- is a hospitality
stapled group comprising Eagle Hospitality Real Estate Investment
Trust ("Eagle H-REIT") 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 and/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 Jan. 18, 2021.

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

The Debtors tapped PAUL HASTINGS LLP as bankruptcy counsel; FTI
CONSULTING, INC., as restructuring advisor; and MOELIS & COMPANY
LLC, as investment banker. COLE SCHOTZ P.C. is the Delaware
counsel.  RAJAH & TANN SINGAPORE LLP is Singapore Law counsel, and
WALKERS is Cayman Law counsel.  DONLIN, RECANO & COMPANY, INC., is
the claims agent.



ELITE AEROSPACE: U.S. Trustee Appoints Creditors' Committee
-----------------------------------------------------------
The U.S. Trustee for Region 15 on Oct. 5 appointed an official
committee to represent unsecured creditors in the Chapter 11 case
of Elite Aerospace Group, Inc.

The committee members are:

     1. Tony Bos
        9451 N. State Road 10
        DeMotte, IN 46310-8830
        Telephone: (219) 863-4339
        Facsimile: (219) 987-8282
        E-mail: ttbmilk@gmail.com

     2. Gary Li
        21918 Winnebago Lane
        Lake Forest, CA 92630
        Telephone: (949) 378-3081
        E-mail: togaryli@hotmail.com

     3. Artius, LLC
        Attention: Waqas Shahid
        2598 N. Avalon Ave
        Orange, CA 92867
        Telephone: (714) 658-3804
        E-mail: wshahid@artiussynergy.com

     4. Robert A. Pecanic Jr.
        18 Corriente,
        Irvine, CA 92614
        Telephone: (949) 795-2889
        E-mail: aerotech@earthlink.net

     5. Robert Wein
        2130 Evans Way
        Costa Mesa, CA 92627
        Telephone: (714) 719-0660
        E-mail: bobwein@msn.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                    About Elite Aerospace Group

Elite Aerospace Group, Inc., is an Irvine, Calif.-based company
that designs and manufactures aerospace components.

Elite Aerospace Group filed a petition for Chapter 11 protection
(Bankr. C.D. Calif. Case No. 21-12231) on Sept. 13, 2021, listing
as much as $50 million in both assets and liabilities.  Zeeshawn
Zia, president of Elite Aerospace Group, signed the petition.
Levene, Neale, Bender, Yoo & Brill, LLP, serves as the Debtor's
legal counsel.


ENERGY ENTERPRISES: Wins Cash Collateral Access on Final Basis
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has authorized Energy Enterprises USA Inc., dba Canopy Energy, to
use cash collateral on a final basis.

As adequate protection for the Debtor's use of cash collateral, the
U.S. Small Business Administration is granted a replacement lien to
the same extent, validity, and priority as the SBA's prepetition
lien.

The Court says the fees to any professionals identified on the
budget will be allowed upon obtaining a court order authorizing the
employment of the professional and after the professional has
obtained court approval of its fees and expenses pursuant to 11
U.S.C. section 330.

A copy of the order is available at https://bit.ly/3l9lX0y from
PacerMonitor.com.

                 About Energy Enterprises USA Inc.

Energy Enterprises USA Inc. d/b/a Canopy Energy --
https://www.canopyenergy.com/ -- is a residential solar energy
developer in California. The company filed a Chapter 11 petition
(Bankr. C.D. Cal. Case No. 21-11374) on August 12, 2021.  On the
Petition Date, the Debtor estimated $100,000 to $500,000 in assets
and $1,000,000 to $10,000,000 in liabilities.  The petition was
signed by Lior Agam, president.

Judge Maureen Tighe presides over the case.

The Law Offices of Michael Jay Berger serves as the Debtor's
counsel.


EXTRUSION GROUP SERVICES: Case Summary & 3 Unsecured Creditors
--------------------------------------------------------------
Debtor: Extrusion Group Services, LLC
        5665 Atlanta Hwy
        Suite 102B-204
        Alpharetta, GA 30004

Chapter 11 Petition Date: October 5, 2021

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 21-21055

Debtor's Counsel: William A. Rountree, Esq.
                  ROUNTREE, LEITMAN & KLEIN, LLC
                  Century Plaza I
                  2987 Clairmont Road, Ste 350
                  Atlanta, GA 30329
                  Tel: 404-584-1238
                  Fax: 404 704-0246
                  E-mail: swenger@rlklawfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Micheal T. Houston as CEO.

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

https://www.pacermonitor.com/view/PB6PAJA/Extrusion_Group_Services_LLC__ganbke-21-21055__0001.0.pdf?mcid=tGE4TAMA


FAMILY FRIENDLY: Wins Cash Collateral Access Through Nov. 30
------------------------------------------------------------
Judge Thomas J. Catliota of the U.S. Bankruptcy Court for the
District of Maryland authorized Family Friendly Contracting LLC to
use the cash collateral of Live Oak Banking Company to pay for
operating expenses in the ordinary course of the Debtor's business
for the period from October 1 through November 30, 2021.

As adequate protection, the Debtor grants Live Oak valid and fully
perfected replacement liens with the same validity, extent and
priority on the same assets on which it held prepetition liens and
all proceeds thereof, to the extent of diminution in value of Live
Oaks's prepetition collateral.  

Live Oak is also granted -- to the extent not already granted under
the loan documents -- valid and fully perfected first priority
security interest in and liens on all of the Debtor's vehicles not
subject to existing prepetition security interest, and second
priority liens on vehicles that are subject to an existing properly
perfected prepetition security interest, to the extent of any
diminution in value.  Moreover, Live Oak shall have, subject to
application with the Court, an allowed superpriority claim pursuant
to Section 507(b) of the Bankruptcy Code in the event the liens in
the vehicles prove inadequate.  

The Debtor owed Live Oak under certain prepetition loan agreements
in original principal amounts of $5,000,000; $500,000 and
$250,000.

The hearing to consider final approval of the Debtor's use of cash
collateral will be held on or before November 30, 2021, at a date
and time to be set by the Court.  Objections must be served and
filed at least seven days prior to said hearing.

A copy of the second order is available for free at
https://bit.ly/3uDW1ND from PacerMonitor.com.

               About Family Friendly Contracting LLC

Family Friendly Contracting LLC is a local home improvement,
restoration and contract management company that provides reliable
services to homeowners and commercial properties in Maryland, D.C.
and West Virginia. Its commercial and residential services include
fire and smoke restoration, water and flood damage restoration,
storm and wind damage restoration, remodeling, additions, basement
finishing, and service support for property management companies.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 21-14213) on June 27, 2021.
In the petition signed by Adam Borcz, chief financial officer, the
Debtor disclosed up to $10 million in both assets and liabilities.

Paul Sweeney, Esq. at Yumkas, Vidmar, Sweeney & Mulrenin, LLC is
the Debtor's counsel.

Live Oak Banking Company, as lender, is represented by Whiteford
Taylor Preston LLP.


FRESH ACQUISITIONS: BBQ Holdings Wins Auction for Tahoe Joe
-----------------------------------------------------------
Alex Wolf, of Bloomberg Law, reports that BBQ Holdings Inc., the
restaurant operator that owns the Famous Dave's brand, will pay up
to $5.3 million to buy bankrupt Fresh Acquisitions LLC's Tahoe
Joe’s steakhouse chain and other assets.

BBQ Holdings' winning bid in the Oct. 1 bankruptcy auction includes
a $4.2 million cash offer and an agreement to pay up to $1.1
million to cover Fresh Acquisitions' outstanding liabilities,
according to a court filing Monday by Fresh Acquisitions, whose
brands include Old Country Buffet.

With the deal, BBQ Growth, a BBQ Holdings affiliate that submitted
the bid, is buying six Tahoe Joe's locations.

                     About Fresh Acquisitions

Fresh Acquisitions LLC and Buffets, LLC, operate independent
restaurant brands and are based in San Antonio, Texas. Prior to the
COVID-19 pandemic, the Debtors were a significant operator of
buffet-style restaurants in the United States with approximately 90
stores operating in 27 states.  The Debtors' concepts include six
buffet restaurant chains and a full service steakhouse, operating
under the names Furr's Fresh Buffet, Old Country Buffet, Country
Buffet, HomeTown Buffet, Ryan's, Fire Mountain, and Tahoe Joe's
Famous Steakhouse, respectively.

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009. In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

On Aug. 19, 2015, Alamo Ovation, LLC, acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets operated
over 300 restaurants in 35 states. Down to 150 restaurants in 25
states after closing unprofitable locations, Buffets LLC and its
affiliated entities sought Chapter 11 protection (Bankr. W.D. Tex.
Case No. Lead Case No. 16-50557) in San Antonio, Texas, on March 7,
2016. On April 27, 2017, the Court confirmed the Debtors' Second
Amended Joint Plan of Reorganization. The Effective Date of the
Plan was May 18, 2017.

Fresh Acquisitions, LLC and 14 affiliates, including Buffets LLC
(a/k/a Ovation Brands), sought Chapter 11 protection (Bankr. N.D.
Tex. Lead Case No. 21-30721) on April 20, 2021. Fresh Acquisitions
was estimated to have $1 million to $10 million in assets and $10
million to $50 million in liabilities. The Hon. Harlin Dewayne Hale
is the case judge.

In the recent cases, the Debtors tapped GRAY REED as counsel; and
B. RILEY ADVISORY SERVICES as financial advisor.  KATTEN MUCHIN
ROSENMAN LLP is special counsel. BMC GROUP, INC., is the claims and
noticing agent. HILCO REAL ESTATE, LLC is the real estate
consultant.


GANNETT CO: Fitch Assigns FirstTime 'B' LT IDRs, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has assigned Long-Term Issuer Default Ratings (IDRs)
of 'B' to Gannett Co., Inc. and Gannett Holdings LLC and a 'BB/RR1'
issue rating to the first lien secured term loan and notes. The
Rating Outlook is Stable.

KEY RATING DRIVERS

Secular Headwinds: Gannett will continue facing negative secular
headwinds in print circulation and readership driven by increasing
digital news consumption and audience fragmentation, which will be
a drag on total advertising revenues. While the pandemic
exacerbated these headwinds, it remains too early to determine if
the accelerated declines will continue, which could preclude
Gannett from returning to the pre-pandemic decline trajectory of
high-single digit to low-teens.

Advertising Environment: Advertising overall has faced significant
pressure during the coronavirus pandemic, primarily driven by
restrictions on commerce and movement, and local and national
advertising revenue declined by mid-teen rates in 2020. The
aggregate advertising spending decline was consistent with Fitch's
view, including legacy mediums such as newspapers, linear
television, terrestrial radio, out-of-home, etc. remaining
hypercyclical. While the pace of the ad market recovery exceeded
Fitch's initial expectations, and Fitch remains optimistic about
the ad market recovery trajectory in 2021, Fitch remains concerned
about legacy medium's long-term growth prospects.

Digital Circulation Growth: Gannett's robust historical digital
circulation growth continued during the pandemic and is expected to
continue in concert with overall newspaper sector growth. Digital
circulation growth should also be helped by the July 2021
introduction of a paid subscription model for USA Today and
crosswords. Fitch notes a growing portion of The New York Times'
recent digital subscriber growth came from non-news subscription
offerings like crossword, cooking and games, which offers potential
for Gannett's non-news offerings. Although it remains too early to
measure subscriber uptake or stickiness, Gannett experienced
consistent subscriber growth after converting several local papers
to digital subscriptions while the user bases remained relatively
stable despite having to pay for web access.

Transition from Traditional Offerings: Gannett's digital marketing
services (DMS) and events segments represented 13.6% of FY2020
total revenues, up from 10% of FY2017. DMS offers the best growth
potential given the large base of untapped SMBs despite an
industry-wide elimination of digital marketing incentives. Prior to
the pandemic, Gannett saw a significant increase in the number of
annual events held and expects events to return to prior growth
trajectory in 2022. In July 2021, Gannett signed a five-year sports
betting agreement across its more than 450 local and sports sites
that will generate more than $90 million in aggregate.

FCF Improvements: Gannett's FCF profile has improved significantly
due to expense reductions and recapitalization efforts. Gannett was
acquired by New Media Investment Group, Inc. (NMIG) in 2019, funded
with $1.8 billion of debt. NMIG, renamed Gannett, disclosed $275
million to $300 million of expected annual cost synergies by year
end 2021. It achieved the full $300 million on an annualized basis
by March 31, 2021 and announced an additional $25 million of
synergies. It also completed several refinancings, with the
proposed refinancing expected to further reduce Gannett's overall
average interest rate to below 6%, from 11.5% at closing. Finally,
Gannett will have repaid approximately $400 million of debt by
Sept. 30, 2021. These efforts reduce cash interest expense by more
than $100 million annually.

Debt Repayment and Leverage Trajectory: Gannet's proposed term loan
requires significant debt prepayments. Annual amortization of
either 10% or 5%, driven by leverage, in line with the existing
facility. Mandatory prepayments will continue to include excess
cash over $100 million as of each Dec. 31st and asset sale
proceeds. Year to date through Sept. 30, 2021, Gannett will have
repaid more than $146 million of its term loan using cash on hand
and asset sale proceeds. Management noted they have $37 million of
asset sales under contract with another $18 million to $55 million
either in negotiations or actively being marketed. The company has
a first lien net leverage target of 1.0x, which Fitch believes can
be attained by Dec. 31, 2022 in line with management expectations.

Portfolio Diversity: Gannett is the largest U.S. newspaper
publisher, serving more than 600 communities with more than 260
local and national daily newspapers, including USA Today, 302
weekly newspapers, 383 locally-focused websites, and 74 business
publications and also publishes 143 daily and weekly newspapers and
32 magazines in the U.K. and related platforms. As of June 30,
2021, it had approximately 3.6 million total paid subscribers,
including 1.4 million digital only subscribers and had
approximately 174 million unique monthly visitors.

Parent Subsidiary Linkage: Fitch links and synchronizes the IDRs of
Gannett and Gannett Holdings as they operate as a single enterprise
with strong legal and operational ties. Fitch believes the
cross-guarantees provided by Gannett and Gannett Holdings solidify
the strong linkage between the entities.

DERIVATION SUMMARY

Gannett is a multi-media company consisting of publishing and
digital media solutions segments in the U.S. and U.K. and Fitch
does not rate any direct comps. Two indirect comps with similar
revenue growth trajectories are Verizon Media Group (BB-/Stable)
and Frontier Communications Parent, Inc. (BB-/Stable), both of
which are rated higher due to lower leverage. While a third
indirect comp, Windstream Services LLC (B/Stable), also has a
similar revenue growth trajectory, its lower leverage is offset by
a limited capacity to mitigate execution risks.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for the issuer
include:

-- Advertising revenues decline in the low teens annually;

-- Print circulation revenues declines in the high-single digits
    as price increase somewhat offset continued mid-teen declines
    in print subscriptions;

-- Digital circulation revenues increase more than 50% annually
    due to ongoing increases in digital subscriptions and, to a
    lesser extent, price increases;

-- DMS revenues grow in the high-single digits due to increases
    in both core client count and ARPU and finally offsets print
    and advertising declines during 2024;

-- EBITDA margin improves to the high teens due to top line
    improvements and ongoing right sizing of the expense base;

-- Cash interest expense falls due to refinancing and significant
    mandatory debt prepayments;

-- Capital intensity settles in at approximately 1.6% annually;

-- Annual synergy realization costs and pension benefit
    obligations decline over the rating horizon;

-- FCF grows to almost $400 million by 2024 due primarily to the
    interest reduction compounding benefits of debt repayment;

-- No dividends, share buybacks or M&A activity over the rating
    horizon;

-- Total leverage falls below 1.0x by 2024 due primarily to the
    mandatory term loan prepayments along with the EBITDA growth.

KEY RECOVERY RATING ASSUMPTIONS

The recovery analysis assumes Gannett would be considered a going
concern in bankruptcy and would be reorganized rather than
liquidated and assumes a 10% administrative claim.

Going-Concern (GC) Approach

Gannett's recovery analysis assumes the company is unable to grow
its digital subscriptions, advertising, or media solutions business
segments sufficiently enough to offset accelerated print subscriber
and advertising declines. As such, Fitch estimates a
post-reorganization going concern EBITDA of $375 million, which
represents an approximate 20% decline from LTM June 30, 2021
Fitch-calculated EBITDA of $470 million, pro forma for annualized
realized cost synergies.

Fitch assumes Gannett will receive a going-concern recovery EV
multiple of 4.5x EBITDA based on the following factors. In
September 2020, The McClatchy Company was acquired out of
bankruptcy for $312 million, or an estimated 4.2x 2021 adjusted
EBITDA (based on McClatchy's financial projections provided in
their February 2020 disclosure statement as part of their initial
proposed equitization reorganization). Fitch's July 2021 TMT
bankruptcy case study exit multiples for peer companies ranged from
4.2x-7.8x, with an average of 6.3x. While the 4.5x multiple is
below the case study average exit multiple, the bankruptcies
occurred between 2009 and 2011 and the newspaper industry has only
seen continued erosion in print circulation and advertising that
digital subscription is not yet fully replacing.

Additional factors include NMIG acquisitions of several news, media
and digital marketing providers for an average 4.1x multiple and
Gannett in November 2019 for $1.34 billion, or 4.2x LTM ended June
30, 2019 EBITDA. Similar public companies trade at EBITDA multiples
ranging from the mid-single digits to low teens, with the higher
end multiple driven by a large newspaper with national distribution
and significant industry-leading digital subscriber success.

Fitch estimates full recovery prospects for the first lien senior
secured term loan and notes and rate them 'BB/RR1', or three
notches above Gannett's 'B' IDR.

RATING SENSITIVITIES

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

-- Successful execution of strategic operating transformation
    leading to sustainable total digital revenue growth that
    meaningfully offsets the decline in legacy revenues;

-- Consistent EBITDA and FCF margin improvement;

-- Fitch-calculated leverage (total debt with equity credit /
    operating EBITDA) declines below 2.0x on a sustainable basis.

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

-- Digital revenue growth slows or declines and is insufficient
    to meaningfully offset print subscriber declines;

-- Fitch-calculated leverage exceeds 3.5x without a creditable
    plan to return leverage within sensitivities.

BEST/WORST CASE RATING SCENARIO

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

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of June 30, 2021, Gannett had $159 million
of cash and cash equivalents, roughly in line with historical
amounts. Because the company has consistently generated FCF, and is
expected to grow annual FCF to almost $400 million over the rating
horizon due to the significant reduction in annual cash interest
expense, it does not have a revolving credit.

Maturities are manageable as the current first lien term loan
matures in December 2025 and the second lien convertible notes
mature in December 2027. The term loan also amortizes at 10%
annually, stepping down to 5% when first lien net leverage is 1.0x
below closing leverage and includes mandatory prepayments from
excess cash over $100 million as of each December 31st and asset
sale proceeds.

ISSUER PROFILE

Gannett is the largest U.S. newspaper publisher, serving over 600
communities with more than 260 daily newspapers, including USA
Today, 302 weekly newspapers, 383 websites, 74 business
publications and 143 daily and weekly newspapers and 32 magazines
in the U.K.

ESG CONSIDERATIONS

The highest level of Environmental, Social and Governance (ESG)
credit relevance, if present, 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 to the way in which they
are being managed by the entity.


GBG USA: Gets Court Okay to Sell Ely & Walker Assets to TAJ Imports
-------------------------------------------------------------------
Jeremy Hill, writing for Bloomberg News, reports that bankrupt GBG
USA won court approval to sell its Ely & Walker assets to TAJ
Imports Inc. for $750,000 cash.

GBG received only one qualified bid for Ely & Walker, which is a
Western shirt company "catering to outdoors and work wear lifestyle
customers," per court court papers.

U.S. Bankruptcy Judge Michael Wiles said he would approve the sale
pending changes to the court order discussed in a hearing Tuesday,
October 5, 2021.

                          About GBG USA

Global Brands Group Holding Limited (SEHK Stock Code: 787) is a
leading branded apparel and footwear company. The Group designs,
develops, markets and sells products under a diverse array of owned
and licensed brands.

The Group's Europe wholesale business operates under legal entities
entirely separate and independent from the wholesale business in
North America. It primarily supplies apparel, footwear and
accessories to retailers and consumers across Europe under licenses
separately entered into by the Europe entities of the Group. The
Group's global brand management business operates on a different
business model and is distinctly separate from the wholesale
businesses in North America and Europe.

Global Brands' innovative design capabilities, strong brand
management focus, and strategic vision enable it to create new
opportunities, product categories and market expansion for brands
on a global scale.

GBG USA is a company incorporated under the laws of Delaware and is
an indirect wholly owned subsidiary of the Company. GBG USA is
primarily engaged in operating the wholesale and direct-to-consumer
footwear and apparel business in North America.

GBG USA and 10 affiliates sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No.  21-11369) on July 29, 2021. In the petition
signed, GBG estimated both assets and liabilities between $1
billion and $10 billion. The cases are handled by Honorable Judge
Michael E Wiles.

Willkie Farr & Gallagher LLP is the Debtors' counsel. Ankura
Consulting Group, LLC, is the Debtors' restructuring advisor.
Ducera Partners LLC is the Debtors' financial advisor. Prime Clerk
LLC is the claims and noticing agent.


GBT TECHNOLOGIES: To Pay $1,771 Monthly Under Modified SBA Loan
---------------------------------------------------------------
GBT Technologies Inc. entered an Amended Loan Authorization and
Agreement with the Small Business Administration on Oct. 1, 2021 to
modify a note dated June 16, 2020, providing for monthly principal
and interest payments of $1,771 after 24 months from the original
note commencing on or around June 22, 2022.  The modified note will
continue to bear interest at 3.75% per annum and is due 30 years
from the date of issuance of the original note.

On June 22, 2020, GBT received a $150,000 loan from the SBA under
the Economic Injury Disaster Loan (EIDL) program related to the
COVID-19 relief efforts in consideration of the June 16 note.  This
original note bears interest at 3.75% per annum, requires monthly
principal and interest payments of $731 after 12 months from
funding and is due 30 years from the date of issuance of the
original note.  

The modified note is guaranteed by Douglas Davis, former chief
executive officer of GBT and current consultant, as well as by GBT
Tokenize Corp which controls the company and owns 800 million
shares of common stock of the company.

The additional funding of $200,000 was received by GBT on Oct. 5,
2021.

                             About GBT

Headquartered in Santa Monica, CA, GBT Technologies, Inc. is
targeting growing markets such as development of Internet of
Things
(IoT) and Artificial Intelligence (AI) enabled networking and
tracking technologies, including wireless mesh network technology
platform and fixed solutions, development of an intelligent human
body vitals device, asset-tracking IoT, and wireless mesh networks.
The Company derived revenues from the provision of IT services.
The Company is seeking to generate revenue from the licensing of
its technology.

GBT Technologies reported a net loss of $17.99 for the year ended
Dec. 31, 2020, compared to a net loss of $186.51 for the year ended
Dec. 31, 2019. As of June 30, 2021, the Company had $3 million in
total assets, $34.15 million in total liabilities, and a total
stockholders' deficit of $31.15 million.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
March 31, 2021, citing that the Company's significant operating
losses raise substantial doubt about its ability to continue as a
going concern.


GENERAL CANNABIS: John Dalton Gets New Role as SevenFive Founder
----------------------------------------------------------------
General Cannabis Corp entered into an amendment to its employment
agreement with John Barker Dalton, a member of the company's Board
of Directors.  

Pursuant to the amendment, Mr. Dalton will continue to be employed
by the company in a new role as founder, SevenFive Farms, and will
be compensated at the rate of $50 per hour up to 40 hours per
month.  Other than these modifications, the terms and conditions of
Mr. Dalton's original employment agreement dated Jan. 24, 2020
remain substantially the same.

                     About General Cannabis Corp

Headquartered in Denver, Colorado, General Cannabis Corp --
http://www.generalcann.com-- offers a comprehensive national
resource to the regulated cannabis industry.  The Company is a
trusted partner to the cultivation, production and retail sides of
the cannabis business.

General Cannabis reported a net loss of $7.68 million for the year
ended Dec. 31, 2020, compared to a net loss of $15.48 for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $9.43
million in total assets, $7.91 million in total liabilities, and
$1.51 million in total stockholders' equity.


GENTREE LLC: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The U.S. Trustee for Region 14 on Oct. 5 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Gentree, LLC.
  
                         About Gentree LLC

Gentree LLC, a privately held company in Phoenix, Ariz., filed its
voluntary petition for Chapter 11 protection (Bankr. D. Ariz. Case
No. 21-05347) on July 12, 2021, listing as much as $50 million in
both assets and liabilities.  Taylor Robinson, authorized agent of
7101 Management, LLC, signed the petition.  Judge Brenda K. Martin
oversees the case.  Dale C. Schian, Esq., at Gallagher & Kennedy,
P.A., represents the Debtor as legal counsel.


GIRARDI & KEESE: Edelson Seeks Court Order to Pursue Erika
----------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Edelson PC has asked a
federal court in California to "clarify" that the automatic stay in
Thomas Girardi's involuntary Chapter 7 bankruptcy proceedings
doesn't extend to assets belonging to his estranged wife, Erika
Girardi, also known by her stage name, Erika Jayne.

In the motion, filed Monday in the U.S. Bankruptcy Court for the
Central District of California, Edelson says that it doesn't
believe the stay shields Erika's separate property from its
non-bankruptcy claims, but wants Judge Barry Russell to make that
explicit in an order.

The order would enable Edelson to pursue a lawsuit it filed last
December in the U.S. Court for the Northern District of Illinois to
recover unpaid fees and to get an accounting of settlements paid to
now-defunct Girardi Keese by Boeing to resolve claims related to
the 2018 Lion Air crash.

The lawsuit, which names Erika, alleges, among other things, that
Girardi embezzled from his clients and racked-up debt to fund the
couple's "lavish lifestyle."

It was initiation of the lawsuit and related contempt proceedings
in the U.S. District Court for the Northern District of Illinois
that put the very serious allegations against Thomas Girardi in the
national spotlight.

Girardi admitted during the course of the December 2020 contempt
proceedings that he couldn’t afford to pay the at least $2
million in client settlement funds he still owed to his Lion Air
clients.

Edelson said that it isn't seeking to recover assets "that ever
belonged to the estate," but is instead looking for "its own,
traceable assets that were embezzled by Tom and potentially given
to Erika."

According to Edelson, its interests are aligned with the bankruptcy
trustee's because it intends to pay their former clients first, and
that it will work with the Trustee to ensure that any assets that
should be are "properly be apportioned" by the bankruptcy court.

Ronald Richards, the investigator who has been hired by the trustee
to locate any of the estate's assets that were improperly
transferred to Erika, Tweeted about the motion, calling the move
surprising.

"We will comment further after we reach out," Richards wrote in one
Tweet.

"We obviously do not want a dog pile on @erikajayne," he wrote in
another that immediately followed.

"This is more reason to settle," Richards wrote.

Trustee Jason M. Rund is represented by Levene Neale Bender Yoo &
Bill LLP.

Erika Girardi is represented by Greenberg Gross.

The case is In re: Thomas Vincent Girardi, Bankr. C.D. Cal., No.
2:20-bk-21020, motion 10/4/21.

                       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 for GIRARDI KEESE.  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

An involuntary Chapter 7 petition was also filed against Thomas
Vincent Girardi (Case NO. 20-21020) on Dec. 18, 2020.  The Chapter
7 trustee can be reached at:

         Jason M. Rund
         Email: trustee@srlawyers.com
         840 Apollo Street, Suite 351
         El Segundo, CA  90245
         Telephone: (310) 640-1200
         Facsimile: (310) 640-0200



GRUPO AEROMEXICO: Plan Depends on New Debt, Equity Financing
------------------------------------------------------------
Maria Chutchian of Reuters reports that Mexican airline Grupo
Aeromexico SAB de CV has filed a reorganization plan that includes
a financing proposal largely backed by a group of senior
noteholders and unsecured creditors and allow the carrier to shed
$1 billion from its debt stack.

In court papers filed late Friday, Aeromexico says it is continuing
to "actively negotiate with various stakeholders regarding an exit
financing package" based on the noteholders and trade creditors'
joint proposal to bring in as much creditor support for the plan as
possible.

The airline, represented by Davis Polk & Wardwell, filed for
Chapter 11 in June 2020 with $2 billion in debt, blaming the
downturn in travel demand caused by the COVID-19 pandemic.

Aeromexico plans to ask U.S. Bankruptcy Judge Shelley Chapman in
Manhattan to grant approval for it to begin soliciting creditor
votes on the plan at a hearing on Oct. 25, 2021.

The joint proposal includes $1.1875 billion in new equity and
$537.5 million in new secured debt. The new financing would be used
to refinance or pay off all or some of $1 billion in loans used to
fund operations during the bankruptcy. It would also be used to
cover costs necessary to emerge from Chapter 11, to set up a
cash-out option for general unsecured creditors and acquire Aimia
Holdings UK Ltd’s interest in the airline's travel loyalty
program, PLM Premier.

The joint proposal puts Aeromexico's total enterprise value at $5.4
billion. Aeromexico says the plan would save nearly 13,000 jobs
worldwide.

The carrier says it received three proposals to fund its exit from
bankruptcy this summer, two of which came from the noteholders and
the trade creditors and were eventually combined into one. The
third proposal was submitted by Apollo Global Management Inc, which
provided the $1 billion loan to fund operations during the
bankruptcy.

Though it initially recommended the Apollo offer to its board,
Aeromexico said in Friday's filings that the joint proposal "would
deliver the greatest value to its creditors and positions the
Company for long-term profitability and growth."

Mediation among the parties is ongoing, according to the disclosure
statement.

VR Global Partners LP is the largest holder of debt in the ad hoc
senior noteholders group with $95 million in notes as of Sept. 17,
2021, according to court papers. Nut Tree Capital Management LP,
with $150 million in unsecured claims, is the largest member of the
ad hoc unsecured creditors' group.

The official unsecured creditors' committee, represented by Willkie
Farr & Gallagher, is separate from the unsecured group involved
with the joint proposal.

Aeromexico was one of three major Latin American airlines to file
for bankruptcy in the United States in 2020, alongside Colombia's
Avianca SA and Chile's LATAM Airlines Group SA.

The airline is hoping to hold a hearing on its proposed plan on
Nov. 29 before Chapman.

                      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.

The Debtors tapped Davis Polk and Wardell LLP as their bankruptcy
counsel, KPMG Cardenas Dosal S.C. as auditor, and Rothschild & Co
US Inc. and Rothschild & Co Mexico S.A. de C.V. as financial
advisor and investment banker. White & Case LLP, Cervantes Sainz
S.C. and De la Vega & Martinez Rojas, S.C., serve as the Debtors'
special counsel. Epiq Corporate Restructuring, LLC is the claims
and administrative agent.  

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors on July 13, 2020.  The committee is represented
by Willkie Farr & Gallagher, LLP and Morrison & Foerster, LLP.


H-CYTE INC: Robert Greif Ends Term as CEO
-----------------------------------------
Robert Greif's employment agreement with H-Cyte, Inc. expired on
Sept. 28, 2021, ending his term as the company's chief executive
officer.  The company chose not to renew his employment agreement.


Tanya Rhodes, H-Cyte's chief technology officer, will serve as
interim chief executive officer of the company.  She will continue
to receive her same consulting fee of $253,000 per year pursuant to
her existing consulting arrangement.

Ms. Rhodes is an innovative, growth-oriented leader in the
healthcare industry with a broad base of international experience
in all aspects of operational business including R&D, clinical and
regulatory, and business development.  Ms. Rhodes has a
demonstrated record of accomplishment for bringing new technologies
from concept through commercialization and possesses an in-depth
knowledge of biological tissues, enzymes, stem cells,
antimicrobials, and natural products.

Prior to joining H-Cyte on June 15, 2020, Ms. Rhodes held various
C-level positions in many sectors, including wound care,
dermatology, aesthetics and plastic surgery.  Ms. Rhodes was the VP
of Innovation for Smith & Nephew and a global executive team member
driving a $450 million dollar business.

Ms. Rhodes has served as president of Rhodes & Associates since
2016 through which she has held long-term contracts with medical
device and drug companies as well as private equity companies.

Ms. Rhodes completed her PhD in molecular orbital computational
chemistry in the United Kingdom and received a Master's degree in
the Management of Technology in the United States.

                         About H-CYTE Inc.

Headquartered in Tampa, Florida, H-CYTE -- http://www.HCYTE.com--
is a hybrid-biopharmaceutical company dedicated to developing and
delivering new treatments for patients with chronic respiratory and
pulmonary disorders.

H-Cyte reported a net loss of $6.46 million for the year ended Dec.
31, 2020, compared to a net loss of $29.81 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $1.98
million in total assets, $5.63 million in total liabilities, and a
total stockholders' deficit of $3.65 million.

Tampa, Florida-based Frazier & Deeter, LLC, issued a "going
concern" qualification in its report dated March 25, 2021, citing
that the Company has negative working capital, has an accumulated
deficit, has a history of significant operating losses, and has a
history of negative operating cash flow.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


HOUSE N BOX: Seeks to Hire The Lane Law Firm as Bankruptcy Counsel
------------------------------------------------------------------
House N Box Movers, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to hire The Lane Law Firm,
PLLC as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) assisting the Debtor in the administration of its
bankruptcy case;

     (b) assisting the Debtor in analyzing its 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;

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

     (f) appearing, as appropriate, 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 firm's hourly rates are as follows:

     Robert C. Lane, Esq.             $425 per hour
     Associate Attorneys              $250 - $375 per hour
     Paralegals/Legal Assistants      $125 - $170 per hour

The Debtor paid the law firm a retainer fee of $15,000, of which
$13,260.50 went to pre-bankruptcy legal fees and $1,738 to the
Chapter 11 filing fee.

Robert Lane, Esq., the firm's attorney who will be providing the
services, disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Robert C. Lane, Esq.   
     The Lane Law Firm, PLLC
     6200 Savoy, Suite 1150
     Houston, Texas 77036
     Tel: (713) 595-8200
     Fax: (713) 595-8201
     Email: notifications@lanelaw.com

                     About House N Box Movers

House N Box Movers, LLC filed a petition for Chapter 11 protection
(Bankr. W.D. Texas Case No. 21-10726) on Sept. 21, 2021, listing up
to $50,000 in assets and up to $500,000 in liabilities.  Andrew Van
Hecke, director, signed the petition.  Judge Tony M. Davis oversees
the case.  Robert C. Lane, Esq., at The Lane Law Firm is the
Debtor's legal counsel.


HTP INC: Seeks to Hire Western Washington Law as Special Counsel
----------------------------------------------------------------
HTP, Inc. seeks approval from the U.S. Bankruptcy Court for the
Western District of Washington to hire Western Washington Law
Group, PLLC as its special counsel.

Western Washington Law will represent the Debtor in commercial tort
and contract litigations pending in King County Superior Court, the
Washington State Supreme Court, Division One of the Washington
Court of Appeals, and the U.S. District Court for the Western
District of Washington.  The firm will also provide legal
assistance to the Debtor, which is a party to an arbitration
proceeding before retired Judge Paris Kallas.

The hourly rates for the firm's attorneys range from $295 to $345
while the hourly rates for support staff range from $50 to $150.

Dennis McGlothin, Esq., at Western Washington Law Group, disclosed
in a court filing that he and his firm do not represent any
interest adverse to that of the estate or the Debtor.

The firm can be reached through:

     Dennis McGlothin, Esq.
     Western Washington Law Group, PLLC
     P.O. Box 468
     Snohomish, WA 98291
     Tel: 425-728-7296/206-420-5737
     Fax: 425 955-5300
     Email: docs@westwalaw.com

                          About HTP Inc.

HTP, Inc.'s assets and operations consist of holding 48% of Hytech,
LLC and pursuing certain litigation against parties that have,
among other things, misappropriated technology and usurped business
opportunities.

HTP, Inc. filed its voluntary petition for Chapter 11 protection
(Bankr. W.D. Wa. Case No. 21-11611) on Aug. 24, 2021, listing $772
million in total assets and $10.45 million in liabilities.  Judge
Timothy W. Dore presides oversees the case.  

Bush Kornfeld, LLP and Western Washington Law Group, PLLC serve as
the Debtor's bankruptcy counsel and special counsel, respectively.

The U.S. Trustee for Region 18 appointed an official committee of
unsecured creditors on Sept. 17, 2021.  The committee is
represented by Alan Wenokur, Esq.


IMERYS TALC: Insurers Ask 3rd Circuit to Nix Future Claims Rep.
---------------------------------------------------------------
Jeannie O'Sullivan of Law360 reports that the insurers of Imerys
Talc America's predecessor asked the Third Circuit on Tuesday,
October 5, 2021, to boot a Young Conaway attorney as representative
for future asbestos claimants in Imerys' Chapter 11 case, arguing
that the firm's representation of the carriers in separate asbestos
litigation poses a conflict.

During an oral argument, an attorney for a group called Cyprus
Historical Excess Insurers told a three-judge panel that Young
Conaway Stargatt & Taylor LLP partner James L. Patton Jr. is now
advocating interests that are adverse to two of the Cyprus Mine
Corp. carriers, which Young Conaway also represents in a case
involving asbestos liabilities.

                     About Imerys Talc America

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

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

Judge Laurie Selber Silverstein oversees the cases.

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

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


INVO BIOSCIENCE: Expects to Raise $3.65M From Stock Offering
------------------------------------------------------------
Invo Bioscience, Inc. and certain institutional and accredited
investors and members of the company's management team entered into
a securities purchase agreement pursuant to which the company
agreed to issue and sell to the investors 1,240,737 shares of its
common stock, par value $0.0001 per share, in a registered direct
offering for aggregate gross proceeds of $4,044,802.  The shares
were offered by the company pursuant to its shelf registration
statement on Form S-3 (File No. 333-255096) filed with the
Securities and Exchange Commission on April 7, 2021, and declared
effective on April 16, 2021.  The purchase price for each share in
the offering was $3.26. Steve Shum, the chief executive officer of
the company, and Andrea Goren, the chief financial officer of the
company, each purchased 30,674 shares in the offering for gross
proceeds of $199,994.48.

The net proceeds to Invo from the offering, after deducting
placement agent fees and the company's estimated offering expenses,
are expected to be approximately $3.65 million.  The company
intends to use the net proceeds from the transaction for working
capital and general corporate purposes and up to $500,000 of
proceeds to repay current outstanding indebtedness, which
indebtedness has a current maturity date of Dec. 22, 2021 and bears
interest at 10% per annum.

The securities are registered under the Securities Act of 1933, as
amended, on the company's Registration Statement on Form S-3
(Registration No. 333-255096), previously filed with the Securities
and Exchange Commission and declared effective on April 16, 2021.

The representations, warranties and covenants contained in the
Securities Purchase Agreement and Stock Purchase Agreement were
made solely for the benefit of the parties thereto.  In addition,
such representations, warranties and covenants (i) are intended as
a way of allocating the risk between the parties to the Securities
Purchase Agreement and not as statements of fact, and (ii) may
apply standards of materiality in a way that is different from what
may be viewed as material by stockholders of, or other investors
in, the company.  Accordingly, the Securities Purchase Agreement is
included with this filing only to provide investors with
information regarding the terms of the transactions.  Moreover,
information concerning the subject matter of the representations
and warranties may change after the date of the Securities Purchase
Agreement, which subsequent information may or may not be fully
reflected in public disclosures.

In connection with the offering, Invo entered into a placement
agency agreement with Paulson Investment Company, LLC, pursuant to
which Invo will pay a cash fee of $323,584.21 to the placement
agent (eight (8.0%) of gross proceeds from the offering).  Invo
will also reimburse the placement agent for expenses incurred by it
in connection with the offering.

In addition, Invo also agreed to grant to the placement agent or
its designees warrants to purchase up to 3% of the aggregate number
of shares sold to investors in the offering (37,222 shares) at an
exercise price of $3.912 per share (120% of the offering price of
the shares).  The placement agent warrants provide for cashless
exercise.  The placement agent warrants will be issued in reliance
on the exemption from registration provided by Section 4(a)(2) of
the Securities Act and Regulation D thereunder as transactions not
involving a public offering and in reliance on similar exemptions
under applicable state laws.  The company will serve as warrant
agent for the placement agent warrants.

                        About INVO Bioscience

Sarasota, Florida-based INVO Bioscience, Inc. --
http://invobioscience.com-- is a medical device company focused on
creating simplified, lower-cost treatments for patients diagnosed
with infertility.  The Company's solution, the INVO Procedure, is a
revolutionary in vivo method of vaginal incubation that offers
patients a more natural and intimate experience.  Its lead product,
the INVOcell, is a patented medical device used in infertility
treatment and is considered an Assisted Reproductive Technology
(ART).

Invo Bioscience reported a net loss of $8.35 million in 2020, a net
loss of $2.16 million on $1.48 million in 2019, a net loss of $3.07
million in 2018, and a net loss of $702,163 in 2017. As of June 30,
2021, the Company had $9.93 million in total assets, $5.57 million
in total liabilities, and $4.36 million in total stockholders'
equity.


ISLET SCIENCES: Seeks to Hire Shardul Amarchand as Special Counsel
------------------------------------------------------------------
Islet Sciences, Inc. seeks approval from the U.S. Bankruptcy Court
for the District of Nevada to hire Shardul Amarchand Mangaldas &
Co. as special counsel.

The firm will assist Armstrong Teasdale, LLP, the lead counsel in
the Debtor's case against Avolynt Inc., Brighthaven Ventures LLC's
parent company, and two other creditors in the U.S. District Court
for the Eastern District of North Carolina (Case No. 5:19-cv-145).
It will provide Armstrong Teasdale with legal advice on issues
concerning Indian legal process specifically concerning the
enforcement of international discovery requests.    

The firm's hourly rates are as follows:

     Partner                $425 per hour
     Principal Associate    $400 per hour
     Senior Associate       $400 per hour
     Associate              $350 per hour

Ila Kapoor, Esq., a partner at Shardul, disclosed in a court filing
that she is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Ila Kapoor, Esq.
     Shardul Amarchand Mangaldas & Co.
     Amarchand Towers, 216 Okhla Industrial Estate
     Phase III, New Delhi, India 110 020
     Phone: +919871792737

                        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. filed an involuntary Chapter 7
petition against Islet Sciences (Bankr. D. Nev. 19-13366). The case
was converted to one under Chapter 11 on Sept. 18, 2019.

Judge Mike K. Nakagawa oversees the case.

The Debtor tapped Brownstein Hyatt Arber Schreck LLP and Schwartz
Law PLLC as its legal counsel; Armstrong Teasdale LLP as special
litigation counsel; Portage Point Partners LLC as financial
advisor; and Shardul Amarchand Mangaldas & Co. as special counsel.

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


JIM'S DISPOSAL: Unsecureds' Recovery Hiked to $1.65M in Plan
------------------------------------------------------------
Substantively consolidated debtors Jim's Disposal Service, LLC
("JDS") and Byrdland Properties, LLC ("Byrdland" and, collectively
with JDS, "Debtor") submitted a Third Amended Disclosure Statement
and Third Amended Plan of Reorganization dated October 4, 2021.

The purpose of this Third Amended Disclosure Statement is
threefold:

   * First, to provide holders of claims against the Debtor
information regarding differences in the Disclosure Statement and
Plan from the First and Second Disclosure Statements and Plans. The
differences are as follows:

     -- The Class 5 claim of Bank of Weston has been amended from
the First Disclosure Statement and Plan to provide for a single
secured claim of $374,772.55, secured by a first-priority security
interest in the commercial vehicles corresponding to Bank of
Weston. This Allowed Secured Claim will accrue interest at the
contract rate of 6.50% per annum, amortized over five years. The
full amount of the first year's amortized payments will be made up
front on the Starting Date. The remaining amortized payments will
be paid over the next four years, in equal monthly installments of
$7,332.86, commencing on the Starting Date;

     -- The total amount Debtor will pay to the Class 8 General
Unsecured Creditors had been increased from $1,000,000 in the first
Disclosure Statement and Plan to $1,650,000 in this Disclosure
Statement and Plan;

     -- Exhibit A to the Plan has been amended to remove trucks
that were erroneously listed as being owned by the Debtor and
secured by Bank of Weston; and

     -- Exhibit B-1 of this Disclosure Statement has been updated
to properly reflect the additional payments to Class 5 and Class 8
creditors.

   * Second, to update and expand upon the liquidation analysis
from that provided in the First and Second Disclosure Statements.

   * Third, to provide holders of claims against Debtor with
adequate information about the Debtor and the Plan in order to
enable holders of such claims to arrive at a reasonable, informed
decision in exercising the right to vote for acceptance or
rejection of the Plan.

Class 8 consists of the Allowed Unsecured Claims of General
Unsecured Creditors not classified in any other class. Debtors
estimate that Class 8 claims equal approximately $4,985,420.68. No
payment will be made on PBGC's claims unless the Debtor's Standard
Termination is unsuccessful. If the Standard Termination is
successful, then there will only be approximately $3,866,027.68 in
general unsecured claims. Debtor will pay $1,650,000 to Class 8
creditors, representing a return of approximately 43% on their
claims.

The $300,000 to be paid to unsecured creditors on the First
Distribution Date will be placed in an account separate from the
Debtor's operating or payroll accounts on or before the Starting
Date (the "Segregated Account"). Debtor shall make periodic
deposits to the Segregated Account throughout the duration of the
Plan to ensure the availability of funds on the distribution
dates.

The Debtor will execute the Plan through a continuation of their
operations as contemplated under the Plan. Debtor has made great
strides in selling assets, reducing costs, streamlining operations,
and increasing revenues. The Debtor has added and continues to add
additional contracts with the City of Kansas City to further
increase revenues. Debtor's business has increased such that the
Debtor had to purchase additional trucks (consistent with past
practices) to service new routes. Debtor was able to fund the
purchase of these trucks with current revenues in excess of the
money set aside for payments to creditors under the Plan.

Although a comparison to Debtor's prior financial performance has
extremely limited utility because: (1) the Debtor sold over $6
Million of its real property and consolidated its operations on the
smallest (now unencumbered) piece of land; (2) significantly
reduced its expenses, partly as a result from of this
consolidation; (3) and is now working under a completely different
contract with its primary customer, the City of Kansas City.

A full-text copy of the Third Amended Disclosure Statement dated
October 4, 2021, is available at https://bit.ly/3uMaTJO from
PacerMonitor.com at no charge.

Counsel for Debtor:

      Robert S. Baran, Esq.
      Ryan E. Shaw
      CONROY BARAN
      1316 Saint Louis Ave., 2nd FL
      Kansas City, MO 64101
      Tel: (816) 210-9680 / (816) 616-5009
      Fax: (816) 817-6023
      E-mail: rbaran@conroybaran.com
              lpittman@conroybaran.com
              rshaw@conroybaran.com

                  About Jim's Disposal Service

Jim's Disposal Service, LLC, a company that specializes in
residential waste solutions, filed a Chapter 11 petition (Bankr.
W.D. Mo. Case No. 20-40050) on Jan. 6, 2020.  At the time of the
filing, the Debtor was estimated to have less than $50,000 in
assets and $1 million to $10 million in liabilities.  

Judge Brian T. Fenimore oversees the case.

The Debtor tapped Mann Conroy, LLC, as its legal counsel and
Cochran Head Vick & Co., P.A. as its accountant.


JOHN Q. HAMMONS: 10th Circuits Rejects Trustee's Ch. 11 Fee Hike
----------------------------------------------------------------
Vince Sullivan of Law360 reports that the Tenth Circuit ruled that
a 2017 law increasing the fees Chapter 11 debtors owe to the Office
of the United States Trustee violates the uniformity requirements
of the Constitution because it is applied unevenly in different
judicial districts, adding another layer to an appellate split on
the issue.

In an opinion written by Judge Gregory A. Phillips, the appellate
panel determined that 76 debtors associated with John Q. Hammons
Hotels & Resorts had overpaid U.S. trustee fees by $2.5 million
since January 2018 when the new fee schedule was adopted for
Chapter 11 debtors.

On appeal, the Debtors maintain (1) that the bankruptcy court erred
in interpreting the
2017 Amendment to require increased fees retroactively, and (2)
that the 2017
Amendment violates the Constitution’s Bankruptcy Clause by
applying a bankruptcy law
nonuniformly.

The Trustee contends that the Amendment concerns an administrative
matter and is not subject to the uniformity requirement. In that
regard, the Trustee likens dual-system quarterly Chapter 11
disbursement fees to statutorily optional bankruptcy appellate
panels, which only some judicial circuits use, or to optional local
rules among bankruptcy courts.

Judge Phillips said in is opinion, "Every court that has addressed
the Trustee’s argument has rejected it, and for good reason. See,
e.g., In re Clinton Nurseries, Inc., 998 F.3d 56, 64 (2d Cir. 2021)
("The Trustee's argument has been repeatedly rejected by other
courts." (collecting cases)); cf. Buffets, 979 F.3d at 377 ("The
consensus view of bankruptcy courts that Chapter 11 fees are
Bankruptcy Clause legislation is likely correct.").  The 2017
Amendment fits within the Supreme Court's broad definition of
"bankruptcy" as "the subject of the relations between an insolvent
or nonpaying or fraudulent debtor and his creditors, extending to
his and their relief." Ry. Lab. Execs.' Ass'n v. Gibbons, 455 U.S.
457, 466 (1982) (internal quotation marks and citations omitted).
The Amendment concerns a statute (Sec. 1930(a)(6)) imposing fees
that a debtor must pay before paying creditors. See, e.g., Clinton
Nurseries, 998 F.3d at 64 ("Under Sec. 1930(a)(6), a debtor must
pay pre-confirmation [quarterly] fees as an administrative priority
expense before it pays its commercial creditors, bondholders, and
shareholders." (internal quotation marks and citation omitted)).
Any fee increase reduces what creditors receive. Buffets, 979 F.3d
at 377 (citation omitted); see Clinton Nurseries, 998 F.3d at 64
("[A]ny change in fees imposed pursuant to Sec. 1930 affects the
amount of funds available for distribution to lower-priority
creditors." (internal quotation marks and citation omitted)).
Unlike the Trustee's examples, Sec. 1930(a)(6) requires debtors to
pay potentially significant sums: by December 2019, the 2017
Amendment increased Debtors' fees more than $2.5 million.  Cf.
Buffets, 979 F.3d at 377 ("[U]nlike the varying procedures that
only indirectly might lead to different outcomes, the fee increase
has a direct effect on what creditors receive[.]" (citation
omitted))."

A copy of the opinion is available at
https://www.ca10.uscourts.gov/sites/ca10/files/opinions/010110586262.pdf

                  About John Q. Hammons Fall 2006

Springfield, Missouri-based John Q. Hammons Hotels & Resorts (JQH)
-- http://www.jqhhotels.com/-- is a private, independent owner and
manager of hotels in the United States, representing brands such
as: Marriott, Hilton, Embassy Suites by Hilton, Sheraton, IHG,
Chateau on the Lake Resort / Spa & Convention Center, and Plaza
Hotels Collection.  It has portfolio of 35 hotels representing
approximately 8,500 guest rooms/suites in 16 states.

John Q. Hammons Fall 2006, LLC, and its affiliated debtors filed
chapter 11 petitions (Bankr. D. Kan. Case Nos. 16-21139 to
16-21208) on June 26, 2016.  The petitions were signed by Greggory
D. Groves, vice president.

The Debtors are represented by Mark A. Shaiken, Esq., Mark S.
Carder, Esq., and Nicholas Zluticky, Esq., at Stinson Leonard
Street LLP.  The Debtors' conflict counsel is Victor F. Weber,
Esq., at Merrick Baker and Strauss PC.

At the time of filing, the Debtors estimated assets at $100 million
to $500 million and liabilities at $100 million to $500 million.


KORNBLUTH TEXAS: Court Denies Cash Collateral Motion
----------------------------------------------------
The court docket in the Chapter 11 case of Kornbluth Texas, LLC
disclosed that, at a hearing held on September 30, 2021, the U.S.
Bankruptcy Court for the Southern District of Texas denied the
Debtor's motion for authority to use the cash collateral, for
reasons stated on record.

                       About Kornbluth Texas

Kornbluth Texas, LLC, which operates a Holiday Inn hotel, filed a
petition for Chapter 11 protection (Bankr. S.D. Tex. Case No.
21-32261) on July 5, 2021, listing as much as $10 million in both
assets and liabilities.  Cheryl M. Tyler, managing member, signed
the petition.

Judge Christopher M. Lopez oversees the case.

The Debtor tapped The Law Office of Margaret M. McClure and Matthew
Shell CPA, PLLC as its legal counsel and accountant, respectively.


L&L WINGS: Has Cash Collateral Access Until Dec. 10
---------------------------------------------------
Before the Petition Date, L&L Wings, Inc. was a party with TD Bank,
N.A. to a Loan Agreement and Line of Credit Note, secured pursuant
to a Security Agreement dated May 22, 2013.  There was no
outstanding obligation under the Line of Credit Note as of the
Petition Date.  

The Debtor, however, guaranteed certain obligations of several
non-debtor affiliates which guaranties are secured by, among other
things, the Debtor's deposit accounts and other property in
possession of TD Bank. As of the September 3, 2021, the Guaranty
Obligations totaled at least $10,621,026.  Moreover, as of the
Petition Date, the Debtor owed TD Bank approximately $2,600,800
under the Payroll Protection Loan. The PPP Loan Obligation is
unsecured

TD Bank has consented to the Debtor's use of the Cash Collateral on
a further interim basis.

Accordingly, Judge David S. Jones of the U.S. Bankruptcy Court for
the Southern District of New York authorized the Debtor to use the
cash collateral of TD Bank, according to the approved budget,
through the earliest to occur of (a) December 10, 2021, and (b) the
effective date under any confirmed Chapter 11 plan proposed by the
Debtor.

The Debtor's authority under the current order shall also terminate
upon the occurrence of certain termination events, including:

   (a) the conversion of the Debtor's Chapter 11 case to a Chapter
7 case;

   (b) the appointment of a trustee or an examiner with expanded
powers with respect to the Debtor's estate;

   (c) entry of an order modifying the current interim order; or

   (d) the occurrence of an uncured monetary default under any of
the affiliate loans, provided that there is equity cushion of less
than $500,000 in the subject property.

TD Bank is granted valid and automatically perfected postpetition
liens co-extensive with its prepetition liens, on all personal
property of the Debtor and its estate, to the extent of any
diminution in value of TD Bank's prepetition collateral, but
subordinate to the Carve-out and TD Bank's prepetition liens.  TD
Bank shall also have an allowed administrative expense claim to the
extent the Replacement Liens granted do not provide TD Bank with
adequate protection of its interests in the Cash Collateral.
Moreover, TD Bank shall have the right to "credit bid" the full
amount of its Secured Claim in connection with any sale of the
Collateral.

The Carve-out includes, among other things, (i) up to $20,000 of
fees and expenses incurred by a Chapter 7 Trustee and its
professionals and (ii) up to $250,000 of allowed professional fees
and out-of-pocket expenses incurred by the Debtor and the Official
Committee of Unsecured Creditors after delivery of a Carve-Out
Trigger Notice.  

A copy of the fifth interim order is available for free at
https://bit.ly/3a6I29B from PacerMonitor.com.

A final hearing on the Motion will be held on December 2, 2021 at
10 a.m. EST via Zoom Teleconference.  Objections must be filed and
served no later than 4 p.m. EST on November 29.

                          About L&L Wings

L&L Wings, Inc. is a New York-based retailer of beachwear and beach
sundry items. It operates 26 stores throughout North Carolina,
South Carolina, Florida, Texas and California.

L&L Wings sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. N.Y. Case No. 21-10795) on April 24, 2021. In the
petition signed by Ariel Levy, president, the Debtor disclosed up
to $50 million in assets and up to $100 million in liabilities.
Judge Shelley C. Chapman oversees the case.

The Debtor tapped Davidoff Hutcher & Citron LLP as legal counsel,
WebsterRogers LLP as accountant, and CFGI as financial advisor. A&G
Realty Partners, LLC is its real estate consultant and advisor.

On May 7, 2021, the U.S. Trustee for Region 2 appointed an official
committee of unsecured creditors. Otterbourg PC and Thompson Hine,
LLP serve as the committee's bankruptcy counsel and special
counsel, respectively.



LIVE PRIMARY: Seeks to Hire Beverly Holmes as Accountant
--------------------------------------------------------
Live Primary, LLC seeks approval from the U.S. Bankruptcy Court for
the Southern District of New York to hire Beverly Holmes CPA, PC as
its accountant.

The firm's services include:

     (a) preparing the Debtor's state, federal and local tax
returns, and assisting the Debtor with any examination related
thereto;

     (b) analyzing the government funding programs and applying to
the programs for funding and refunds;

     (c) liaising with Varo, the Debtor's bookkeeper;

     (d) participating in conferences and court hearings, as
required; and

     (e) providing such other accounting, tax and consulting
services as may be required and requested by the Debtor.

The firm charges a fee in the amount of $2,750 for the preparation
of the Debtor's corporate tax returns and an hourly fee of $200 for
the other services.

The Debtor paid $8,062.5 to the firm for its post-petition
services.

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

The firm can be reached at:

     Beverly Holmes
     Beverly Holmes CPA PC
     11 Long KY
     Hitchcock​, TX, 77563-3691
     Tel: (631) 848-0571

                      About Live Primary LLC

Live Primary -- https://liveprimary.com/ -- which conducts business
under the name Primary, is a co-working and shared office space
featuring an array of amenities designed to help people feel good
while working to make their businesses thrive.

Live Primary sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 20-11612) on July 12, 2020, listing
up to $10 million in assets and up to $50 in liabilities.  The case
is assigned to Judge Martin Glenn.

Sanford P. Rosen, Esq., at Rosen and Associates PC and Cole Schotz
P.C. serve as the Debtor's bankruptcy counsel and real estate
counsel, respectively. Beverly Holmes CPA PC serves as the Debtor's
accountant.

Daniel J. Weiner, Esq., at Schafer & Weiner, PLLC, serves as legal
counsel for David Kirshenbaum, the noteholders' representative.
Meanwhile, Broadway 26 Waterview, LLC, the Debtor's landlord, is
represented in the case by Jay B. Itkowitz, Esq., at Itkowitz PLLC.


MALLINCKRODT PLC: Creditors' Committee Now Backs Plan
-----------------------------------------------------
The Official Committee of Unsecured Creditors of Mallinckrodt Plc,
et al., announced that it is now backing the Debtors' Joint Chapter
11 Plan of Reorganization.

The UCC previously opposed the Debtors' Plan and required that the
solicitation materials include a letter from the UCC that expressed
the UCC's recommendation that Holders of Class 6 General Unsecured
Claims vote against the Plan.  Since then, through its counsel and
advisors, the UCC engaged in active  negotiations with the Debtors,
including participating in mediation before Delaware Bankruptcy
Judge Christopher S. Sontchi, in order to improve the terms of the
Debtors’ Plan and its proposed treatment of General Unsecured
Claims.   

After many months of negotiations, the UCC agreed to a settlement
with the Debtors that provides for an enhanced consideration
package and significantly more overall value to Holders of Class 6
General Unsecured Claims as compared to the proposed treatment of
Class 6 in the Debtors' original plan (the "UCC Settlement").  In
addition to this increased consideration, the UCC Settlement also
includes an allocation of the  consideration among Holders of
Claims in Classes 6(a)-(g) (the "Allocation") to ensure the fair
and equitable treatment of General Unsecured Claims.  The
Allocation is set forth in an appendix attached to the Plan (the
"Plan Appendix").  The UCC's support for the Plan is predicated on
the Allocation and the UCC will present evidence at the
confirmation hearing in support of the Allocation.  The Allocation
is subject to adjustment solely to ensure that the recoveries of
each Class 6 subclass satisfy the  requirements of the Bankruptcy
Code.  

The UCC recommends that Holders of Class 6 General Unsecured Claims
vote in favor of the Plan notwithstanding the risk that the
Allocation may be adjusted.  The UCC believes that strong support
in favor of the Plan from Holders of Class 6 General  Unsecured
Claims  will help to ensure approval of the UCC Settlement and
Allocation without adjustment.  In light of the significantly
improved overall treatment for Class 6 General Unsecured Claims as
a result of the UCC Settlement and Allocation, the UCC recommends
that general unsecured creditors vote in favor of the Plan.

                     Voting Deadline Oct. 13

Mallinckrodt Plc, et al., announced on Sept. 29, 2021, that
consistent with the provisions of the Solicitation Procedures
Order, the deadline to file ballots and objections to confirmation
of their Plan of Reorganization has been extended to October 13,
2021 at 4:00 p.m. (prevailing Eastern Time).

                        First Amended Plan

Mallinckrodt Plc, et al., on Sept. 29, 2021, submitted a First
Amended Joint Plan of Reorganization.

The Plan will treat claims as follows:

   * Class 5 Guaranteed Unsecured Notes Claims:

     -- The Guaranteed Unsecured Notes Claims shall be Allowed in
the following amounts: (i) the 5.75% Senior Notes Claims shall be
Allowed in the amount of not less than $610,304,000, plus accrued
but unpaid interest as of the Petition Date; (ii) the 5.625% Senior
Notes Claims shall be Allowed in the amount of not less than
$514,673,000, plus accrued but unpaid interest as of the Petition
Date; and (iii) the 5.50% Senior Notes Claims shall be Allowed in
the amount of not less than $387,207,000, plus accrued but unpaid
interest as of the Petition Date.

     -- Each Holder of an Allowed Guaranteed Unsecured Notes Claim
shall receive its Pro Rata Share of (i) the Takeback Second Lien
Notes and (ii) 100% of New Mallinckrodt Ordinary Shares, subject to
dilution on account of the New Opioid Warrants and the Management
Incentive Plan. Class 5 is impaired.

   * Class 6 - General Unsecured Claims.  Each Holder of an Allowed
Claim in Class 6(a)-(g) shall receive the recoveries set forth in
Class 6(a)-(g) below, subject to adjustment to the allocation of
General Unsecured Claims Trust Consideration solely to ensure that
the recoveries of each Class 6 subclass satisfies the requirements
of the Bankruptcy Code.

   * Class 6(a) — Acthar Claims.  Each Holder of an Allowed
Acthar Claim shall receive its Pro Rata Share of the Acthar Claims
Recovery.  Class 6(a) is impaired.  "Acthar Claims Recovery" means
(a) the Initial Fixed Distribution in Cash in the amount of
$7,500,000 from the General Unsecured Claims Trust Consideration,
plus (b) Additional GUC Trust Distributions calculated by the
methodology set forth in the UCC Appendix. For the avoidance of
doubt, if Acthar Claims are allowed in an amount less than or equal
to $7,500,000, the Acthar Claims Recovery will equal the amount of
Allowed Acthar Claims.

   * Class 6(b) - Generics Price Fixing Claims.  Each Holder of an
Allowed Generics Price Fixing Claim shall receive its Pro Rata
Share of the Generics Price Fixing Claims Recovery.  Class 6(b) is
impaired.  Generics Price Fixing Claims Recovery" means the Initial
Fixed Distribution in Cash in the amount of $8,000,000 from the
General Unsecured Claims Trust Consideration as set forth in the
UCC Appendix.

   * Class 6(c) - Asbestos Claims.  Each Holder of an Allowed
Asbestos Claim shall receive its Pro Rata Share of the Asbestos
Claims Recovery. Class 6(c) is impaired. "Asbestos Claims Recovery"
means the Initial Fixed Distribution in Cash in the amount of
$18,000,000 from the General Unsecured Claims Trust Consideration
as set forth in the UCC Appendix.

   * Class 6(d) - Legacy Unsecured Notes Claims.  Each Holder of an
Allowed Legacy Unsecured Notes Claim shall receive its Pro Rata
Share of the Legacy Unsecured Notes Recovery. Class 6(d) is
impaired. "Legacy Unsecured Notes Recovery" means (a) the Initial
Fixed Distribution in Cash in the amount of $10,859,000 from the
General Unsecured Claims Trust Consideration, plus (b) Additional
GUC Trust Distributions calculated by the methodology set forth in
the UCC Appendix.

   * Class 6(e) - Environmental Claims.  Each Holder of an Allowed
Environmental Claim shall receive its Pro Rata Share of the
Environmental Claims / Other General Unsecured Claims Recovery.
Class 6(e) is impaired.  "Environmental Claims / Other General
Unsecured Claims Recovery" means (a) the Initial Fixed Distribution
in Cash in the amount of $23,650,000 from the General Unsecured
Claims Trust Consideration, plus (b) Additional GUC Trust
Distributions calculated by the methodology set forth in the UCC
Appendix.

   * Class 6(f) - Other General Unsecured Claims.  Each Holder of
an Allowed Other General Unsecured Claim shall receive its Pro Rata
Share of the Environmental Claims / Other General Unsecured Claims
Recovery. Class 6(f) is impaired.

   * Class 6(g) - 4.75% Unsecured Notes Claims.  Each Holder of an
Allowed 4.75% Unsecured Notes Claim shall receive its Pro Rata
Share of the 4.75% Unsecured Notes Recovery. Class 6(g) is
impaired. "4.75% Unsecured Notes Recovery" means (a) the Initial
Fixed Distribution in Cash in the amount of $56,991,000 from the
General Unsecured Claims Trust Consideration, plus (b) Additional
GUC Trust Distributions calculated by the methodology set forth in
the UCC Appendix.

The Debtors will fund cash distributions under the Plan with Cash
on hand, including Cash from operations, and the proceeds of the
New Term Loan Facility.

Counsel to the Debtors:

     Mark D. Collins
     Michael J. Merchant
     Amanda R. Steele
     Brendan J. Schlauch
     RICHARDS, LAYTON & FINGER, P.A.
     One Rodney Square
     920 N. King Street
     Wilmington, DE 19801
     Telephone: (302) 651-7700
     Facsimile: (302) 651-7701
     E-mail: collins@rlf.com
             merchant@rlf.com
             steele@rlf.com
             schlauch@rlf.com

            - and -

     George A. Davis
     George Klidonas
     Andrew Sorkin
     Anupama Yerramalli
     LATHAM & WATKINS LLP
     1271 Avenue of the Americas
     New York, New York 10020
     Telephone: (212) 906-1200
     Facsimile: (212) 751-4864
     Email: george.davis@lw.com
            george.klidonas@lw.com
            andrew.sorkin@lw.com
            anu.yerramalli@lw.com

            - and -

     Jeffrey E. Bjork
     LATHAM & WATKINS LLP
     355 South Grand Avenue, Suite 100
     Los Angeles, California 90071
     Telephone: (213) 485-1234
     Facsimile: (213) 891-8763
     Email: jeff.bjork@lw.com

            - and -

     Jason B. Gott
     LATHAM & WATKINS LLP
     330 North Wabash Avenue, Suite 2800
     Chicago, Illinois 60611
     Telephone: (312) 876-7700
     Facsimile: (312) 993-9767
     Email: jason.gott@lw.com

A copy of the First Amended Joint Plan of Reorganization dated
Sept. 29, 2021, is available at https://bit.ly/3inU7f5 from
PacerMonitor.com.

                     About Mallinckrodt PLC

Mallinckrodt is a global business consisting of multiple
wholly-owned subsidiaries that develop, manufacture, market and
distribute specialty pharmaceutical products and therapies.  The
company's Specialty Brands reportable segment's areas of focus
include autoimmune and rare diseases in specialty areas like
neurology, rheumatology, nephrology, pulmonology and ophthalmology;
immunotherapy and neonatal respiratory critical care therapies;
analgesics; and gastrointestinal products.  Its Specialty Generics
reportable segment includes specialty generic drugs and active
pharmaceutical ingredients.  Visit http://www.mallinckrodt.com/   


On Oct. 12, 2020, Mallinckrodt plc and certain of its affiliates
sought Chapter 11 protection in Delaware in the U.S. (Bankr. D.
Del. Lead Case No. 20-12522) to seek approval of a restructuring
that would reduce total debt by $1.3 billion and resolve
opioid-related claims against them.

Mallinckrodt plc disclosed $9,584,626,122 in assets and
$8,647,811,427 in liabilities as of Sept. 25, 2020.

Judge John T. Dorsey oversees the cases.

The Debtors tapped Latham & Watkins LLP and Richards, Layton &
Finger P.A. as their bankruptcy counsel; Arthur Cox and Wachtell,
Lipton, Rosen & Katz as corporate and finance counsel; Ropes & Gray
LLP as litigation counsel; Torys LLP as CCAA counsel; Guggenheim
Securities LLC as investment banker; and AlixPartners LLP as
restructuring advisor. Prime Clerk, LLC, is the claims agent.

The official committee of unsecured creditors retained Cooley LLP
as its legal counsel, Robinson & Cole LLP as co-counsel, and Dundon
Advisers LLC as its financial advisor.

On Oct. 27, 2020, the U.S. Trustee for Region 3 appointed an
official committee of opioid related claimants.  The OCC tapped
Akin Gump Strauss Hauer & Feld LLP as its lead counsel, Cole Schotz
as Delaware co-counsel, Province Inc. as financial advisor, and
Jefferies LLC as investment banker.

The Debtors filed their plan of reorganization and disclosure
statement on April 20, 2021.


McEWAN ENTERPRISES: Commences CCAA Proceedings
----------------------------------------------
McEwan Enterprises Inc. on Sept. 28, 2021, commenced
court-supervised restructuring proceedings under the Companies'
Creditors Arrangement Act.

On the same day, the Ontario Superior Court of Justice (Commercial
List) granted an order, which among other things, provides for a
stay of proceedings for an initial 10-day period, which may be
extended by the Court from time to time.

Also pursuant to the Initial Order, Alvarez & Marsal Canada Inc.
was appointed as monitor of the business and financial affairs of
the Company.

According to court documents, a key part of the Company's
restructuring plan and these CCAA Proceedings is to effectuate a
going concern transaction of Company's business, including the sale
and transfer of substantially all of its assets and liabilities.
To that end, the Company intends to seek to complete the sale and
transfer of its business, with the exception of certain excluded
lease agreements and related excluded liabilities, to a new entity
formed by the Company's current shareholders, being Fairfax
Financial Holdings Limited and McEwan Holdco.

Approximately $2.2 million of secured debt was outstanding to Royal
Bank of Canada ("RBC"), the Company's operating lender.  This
secured debt balance is comprised of:

   i) approximately $239,000 owing under various
      revolving credit facilities (the "Secured
      Credit Facilities");

  ii) approximately $1.7 million owing under
      various equipment leases ("RBC Equipment
      Leases"); and

iii) approximately $250,000 owing under a term
      loan ("HASCAP Loan").

The Secured Credit Facilities consist of:

   i) eight revolving demand facilities with
      cumulative maximum availability of
      $850,000, of which approximately
      $95,000 is currently drawn ("Revolving
      Facility");

  ii) credit cards with a cumulative maximum
      availability of $360,000; and

iii) a $90,000 letter of credit.

The Proposed Monitor understands that MEI is currently not in
compliance with certain of the covenants under the Secured Credit
Facilities.  However, as described in the McEwan Affidavit, RBC has
confirmed to the Company that it is prepared to continue to provide
access to the Secured Credit Facilities, including the Revolving
Facility, on terms and conditions satisfactory to RBC during the
CCAA Proceedings.

RBC will be an unaffected creditor in these CCAA Proceedings.

Lawyers for the Company:

   Goodmans LLP
   Bay Adelaide Centre
   333 Bay Street, Suite 3400
   Toronto, ON M5H 3S7
   Fax: 416-979-1234

   Robert J. Chadwick
   Tel: 416-597-4285
   Email: rchadwick@goodmans.ca

   Caroline Descours
   Tel: 416-597-6275
   Email: cdescours@goodmans.ca

   Trish Barrett
   Tel: 416-597-4102
   Email: tbarrett@goodmans.ca

Lawyers for the Monitor:

   Bennett Jones LLP
   3400 One First Canadian Place
   P.O. Box 130
   Toronto, ON M5X 1A4
   Fax: 416-863-1716

   Sean Zweig
   Tel: 416-777-6254
   Email: zweigs@bennettjones.com

   Joshua Foster
   Tel: 416-777-7906
   Email: fosterj@bennettjones.com

Monitor can be reached at:

   Alvarez & Marsal Canada Inc.
   Royal Bank Plaza, South Tower
   200 Bay Street, Suite 2900
   P.O. Box 22
   Toronto, ON M5J 2J1
   Fax: 416-847-5201

   Greg Karpel
   Tel: 416-847-5170
   Email: gkarpel@alvarezandmarsal.com

   Joshua Nevsky
   Tel: 416-847-5161
   Email: jnevsky@alvarezandmarsal.com

   Justin Karayannopoulos
   Tel: 416-847-5177
   Email: jkarayannopoulos@alvarezandmarsal.com

Lawyers for Royal Bank of Canada:

   Minden Gross LLP
   Barristers and Solicitors
   2200 - 145 King Street West
   Toronto, ON M5H 4G2

   Catherine Francis
   Tel: 416-369-4137
   Email: cfrancis@mindengross.com

   Kenneth L. Kallish
   Tel: 416-369-4137
   Email: kkallish@mindengross.com

McEwan Enterprises Inc owns six high-end restaurant locations,
three gourmet grocery locations, a catering business and an events
business, each operating in Toronto, with the exception of one of
the restaurants located in Thornbury, Ontario.


MEDLEY LLC: Chapter 11 Plan Should Overcome Court's Cash Concerns
-----------------------------------------------------------------
Vince Sullivan of Law360 reports that asset management firm Medley
LLC will return to Delaware bankruptcy court Wednesday to present
its case for confirmation of a Chapter 11 plan of liquidation after
the court presiding over the company's case raised questions about
how the debtor has spent cash during its bankruptcy.

During a virtual hearing Tuesday, October 5, 2021, Judge Karen B.
Owens of the U. S. Bankruptcy Court for the District of Delaware
said she was not comfortable with her understanding of how funds
have flowed from Medley since it commenced its bankruptcy case,
especially payments made to company insiders employed at Medley
Capital LLC -- the non-debtor operating subsidiary.

                         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.

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.


MIDLAND COGENERATION: S&P Affirms 'BB' ICR, Outlook Stable
----------------------------------------------------------
S&P Global Ratings affirmed its 'BB' issue credit rating on Midland
Cogeneration Venture L.P.'s (MCV) 6% senior secured notes. The
outlook is stable. S&P revised the recovery rating on MCV's debt to
'2' (85%) from '1' (95%), indicating lower recovery for senior
secured bondholders in a hypothetical default because of new
secured bondholders, which will share the same collateral package
as the 6% notes bondholders.

S&P said, "Our stable outlook reflects MCV's largely contracted
revenue position, in which it receives capacity and fixed energy
rate (FER) revenue at fixed rates through the debt term, reducing
downside risk. We expect the project to continue to meet
availability requirements under its power purchase agreement (PPA)
and manage its fixed operations and maintenance (O&M) costs and
capital expenditure (capex), generating a minimum debt service
coverage ratio (DSCR) of about 1.22x without including upside from
merchant revenues."

MCV is a 1,633-megawatt (MW) natural-gas-fired, combined-cycle
power plant with 1.5 million pounds per hour of steam capacity in
Midland, Mich. The plant entered commercial operation in 1990. It
is the largest natural-gas-fired cogeneration plant in the U.S.,
designed to be a nuclear power plant. Up to 1,240 MW of the asset's
energy and capacity are contracted to Consumers Energy Co. through
a PPA that expires in 2030. The project also has a steam and
electric power agreement with Corteva Inc. through March 2035.

S&P said, "Our rating affirmation on the 6% notes due 2025 reflects
our view that even though this transaction adds incremental
leverage to the project, the credit quality of the 6% notes (which
is the only debt issue we rate after the refinancing) is largely
unaffected because the annual debt service obligation until 2025 is
modestly lower to the one that existed prior to this transaction."
However, if a default scenario occurs before 2025, the 6% notes
bondholders will be entitled to a lower recovery, as the new term
loan is pari passu with the existing notes and share the same
collateral package.

The $410 million financing comprises of a $330 million term loan
facility, $37 million revolving loan facility, and $43 million
letter of credit facility. The term loan and revolving loan
facility mature in September 2028. The project used approximately
$76.5 million of the term loan proceeds to fully pay down the
outstanding balance (including make whole premium and accrued
interest) on the $181.25 million 5.25% notes due March 15, 2025,
including a $6 million make-whole payment. The balance will be
distributed to the sponsors. The letter of credit and revolving
loan replaces revolving credit facilities of similar size. The
transaction will increase overall debt at the project approximately
$260 million, but annual debt service will be modestly lower.
Because the new term loan has minimal principal obligations
relative to the amortizing senior secured $181.25 million 5.25%
notes (fully paid from proceeds), S&P projects annual debt service
to reduce from 2022 until 2025, the year the project's other senior
secured notes issue ($560 million 6% notes) is fully amortized as
per its base case. The net reduction in debt service modestly
improves the project's DSCR until 2025, although still commensurate
with the 'BB' rating. Under S&P's base case, it expects the minimum
DSCR until 2025 will improve to 1.22x from 1.15x.

The term loan is priced at LIBOR plus a spread. The project plans
to enter swaps to mitigate its variable rate exposure. The swaps
will be placed for a ten-year period.

Because this transaction increases the project's overall debt and
the new debt is pari passu with current project debt, S&P revised
the recovery rating to '2' (85%) from '1' (95%), indicating lower
recovery for secured bondholders in a hypothetical default
scenario.

The stable outlook reflects MCV's largely contracted revenue
position, in which it receives capacity and FER revenue at fixed
rates through the debt term, reducing downside risk. S&P expects
the project to continue to meet availability requirements under its
PPA and manage fixed O&M costs and capex, generating a minimum DSCR
of around 1.22x and average DSCRs of 1.31x until 2025, when the
$560 million 6% notes mature.

S&P said, "We could lower the rating if we anticipate a minimum
DSCR of about 1.1x on a sustained basis. Given that the FER will
remain $6.14 per MW hour, the DSCR might be lower if the project's
revenues under the variable component of the PPA are lower than we
anticipate, most likely because of higher gas prices, O&M expenses
rising higher than we expect, or operational problems, unless MCV
successfully mitigates these factors.

"We could raise the rating on MCV's debt if its financial
performance under our base case results in a minimum DSCR above
1.3x on a sustained basis. This would most likely occur if
operating expenses substantially reduce without affecting operating
performance, as most of the revenues are already fixed under the
PPA, or the PPA's variable component is higher than anticipated,
most likely because of lower gas prices."



MINVEST USA: Case Summary & 9 Unsecured Creditors
-------------------------------------------------
Debtor: Minvest USA LLC
        1350 NW 86th St
        Miami, FL 33147

Business Description: Minvest USA LLC is a Single Asset Real
                      Estate debtor (as defined in 11 U.S.C.
                      Section 101(51B)).

Chapter 11 Petition Date: October 6, 2021

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 21-19662

Judge: Hon. Robert A. Mark

Debtor's Counsel: Mark S. Roher, Esq.
                  LAW OFFICE OF MARK S. ROHER, P.A.
                  1806 N. Flamingo Road
                  Suite 300
                  Pembroke Pines, FL 33028
                  Tel: (954) 353-2200
                  E-mail: mroher@markroherlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Geoffroy Lecat as manager.

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

https://www.pacermonitor.com/view/5HHHAGI/Minvest_USA_LLC__flsbke-21-19662__0001.0.pdf?mcid=tGE4TAMA


MKS INSTRUMENTS: Fitch Assigns FirstTime 'BB+' LongTerm IDR
-----------------------------------------------------------
Fitch Ratings has assigned a first-time 'BB+' Long-Term Issuer
Default Rating (IDR) to MKS Instruments, Inc. The Rating Outlook is
Stable. In addition, Fitch has assigned a 'BBB-'/'RR1' senior
secured term loan issue rating to the company's planned issuance.

MKS is seeking to issue a $500 million senior secured revolving
credit facility, to be undrawn at close, a $4.3 billion senior
secured term loan, and a $1 billion USD equivalent Euro senior
secured term loan with proceeds, along with a $1.6 billion equity
issuance and cash on the balance sheet, used to fund the $6.5
billion acquisition of Atotech Limited. Fitch's actions affect
approximately $5.8 billion of debt, pro forma for the issuance.

KEY RATING DRIVERS

Cyclicality: Fitch believes the acquisition of Atotech accelerates
efforts to reduce the high levels of cyclicality experienced by MKS
historically, as exposure to semiconductor capital equipment demand
will decline to 39% of pro forma revenue from 59%. Semicap
equipment demand, measured by aggregate semiconductor industry
capex, has experienced periods of excessive volatility with
two-year declines of approximately 50% in both 2001-2002 and
2008-2009, while more moderate cycles have witnessed mid-teens
rates of decline.

The addition of Atotech introduces direct exposure to semiconductor
manufacturing volumes, which have experienced significantly less
volatility with a median decline of 6.6% in down years with the
deepest trough producing a decline of 22% during the financial
crisis. Fitch estimates that 10%-15% of revenue will be derived
from markets closely correlated with semiconductor volumes,
contributing to the reduced cyclicality.

Diversification: The addition of Atotech reduces customer
concentration and increases exposure to non-correlated end-markets.
Management has pursued a long-term strategy to expand into new
markets through the 2016 and 2019 acquisitions of Newport and ESI
that laid the foundations for the company's Advanced Markets
segment and provided exposure to sources of demand spread across
life sciences, advanced electronics manufacturing, industrial
technology, advanced research, quantum computing and defense.
Atotech also contributes increased exposure to automotive
production with its leadership position in general metal finishing.
Finally, the combination reduces customer concentration with the
company's two largest customers representing 16% of pro forma
revenue, down from 25% previously.

Financial Policies: The company has demonstrated a willingness to
utilize elevated financial leverage in pursuit of strategic M&A,
but management has historically prioritized debt repayment to
quickly reduce debt levels thereafter. Fitch expects that
management will maintain the policy post the Atotech acquisition
and forecasts debt repayments of $550 million-$650 million per
annum, resulting in a decline in opening pro forma leverage of 4.4x
to 2.8x over the rating horizon. Fitch believes the 'BB' rating
category is indicative of the flexibility needed to fulfill the
company's acquisitive strategy.

Previously, the 2016 acquisition of Newport was financed with the
issuance of a $730 million term loan, which was followed by $185
million of prepayments in the 12 months after close with an
additional $235 million in prepayments in the two years thereafter.
Similarly, the 2019 ESI acquisition was financed with a $650
million incremental term loan, which was followed by $165 million
of repayments in the subsequent 12 months.

FCF: MKSI generated FCF margins averaging 14% over the most recent
four years and has demonstrated strong cash flow resiliency during
adverse environments with a 2019 margin of 7% in a period that saw
semiconductor production volumes and aggregate industry capex
declines of 3% and 8.5%, respectively. Fitch expects the current
strong demand conditions to contribute to FCF margin expansion to
17% in fiscal 2023 as the additional scale from Atotech hastens the
path towards $1 billion in annual FCF over the longer term.
Finally, Fitch's stress case models demonstrate that the increased
diversification and scale will moderate impacts from future down
cycles, forecasting FCF margin compression to 12% in a hypothetical
scenario similar to 2019.

Secular Tailwinds: MKSI benefits from strong secular tailwinds as
increasing technological intensity and complexity across sectors
generates demand for precision manufacturing and process control.
The company's heritage in semiconductor capital equipment
subsystems positions it well to benefit from the increasing cost
and complexity of sustaining Moore's law that is expected to drive
a 45% increase in wafer fab equipment spending by 2025.

In addition, demand growth for the company's Advanced Markets
segment is supported by trends towards miniaturization, higher
densities, expanded use cases and new materials across a variety of
applications including printed circuit boards, digital displays,
electronics packaging, solar panels, fiber optics, materials
processing,, quantum computing and medical technologies.

Fitch expects the secular dynamics to lead to mid-cycle organic
growth of 4%-6% per annum. In addition, Fitch believes the trends
will extend MKSI's competitive advantages as technological
capability, breadth of product portfolio, and deep partnerships
with customers serve as increasing points of differentiation.

Strategic Fit: Fitch believes the industrial logic for the Atotech
acquisition is sound as increasing miniaturization and complexity
of electronics generates needs for optimization at the interconnect
between chips and devices. Atotech's capabilities in electronics
chemicals is synergistic with MKSI's heritage in laser drilling as
it simplifies customers' design process and accelerates their
product roadmaps and time to market. Fitch believes the combination
improves the credit profile through deeper collaboration with
customers, cross selling opportunities and increased product
differentiation.

DERIVATION SUMMARY

Fitch evaluates MKSI pending its acquisition of Atotech and
compares the combined company against Amkor Technology, Inc.
(BB/Stable), TTM Technologies, Inc. (BB/Stable), II-VI Incorporated
(BB/RWN) and KLA Corporation (BBB+/Stable) given similar product
segments, operating profile characteristics or underlying secular
trends.

Fitch believes MKSI's technological leadership in process control
and precision manufacturing has led to strong market shares with
the company achieving leadership positions across 15 product
categories. Despite leading share and technological capability, the
company has historically been challenged by elevated cyclicality
and constrained profitability, similar to TTM and II-VI, as both
companies have endured highly volatile end-market demand and weaker
bargaining positions relative to customers. However, similar to the
noted peers, Fitch believes MKSI benefits from secular trends
including, expanding use cases into new end-markets and growing
technological complexity, that enable scaled companies to extend
technology leadership, increase product differentiation and deepen
partnerships with customers, which will benefit the credit profiles
over time.

MKS scores well across operating metrics as Fitch expects a
continuation of the constructive demand environment to result in
consistent EBITDA margins of 29%-30% over the rating horizon, which
compares well to the to the 22% peer median. In addition, low
capital intensity and a small dividend, contribute to a favorable
FCF profile with Fitch forecasting FCF margins to range 12%-17%,
well above the 6% peer median. Fitch notes that recent and forecast
EBITDA and FCF margins are consistent with the 'A' rating category.
However, Fitch believes that the overall credit profile is weighed
down by volatility of profitability, as seen recently in 2019 where
an 8% decline in revenue contributed to 700 bps of EBITDA margin
compression while FCF margins were reduced by roughly half to 7%.
Relative to peers, Fitch believes the company's strategy to
increase diversification and scale will moderate impacts from
future down cycles as Fitch's stress case models demonstrate FCF
margin compression to 12% in a hypothetical scenario similar to
2019, suggestive of a stronger credit profile than the similarly
rated peers.

MKSI has demonstrated a willingness to utilize elevated financial
leverage in pursuit of strategic M&A opportunities, but management
has historically prioritized debt repayment to quickly reduce debt
levels thereafter. Fitch expects that management will maintain the
policy post the Atotech acquisition and forecasts debt repayments
of $550 million-$650 million per annum, resulting in a decline in
opening pro forma leverage of 4.4x to 2.8x over the rating horizon,
in line with the 2.7x median for peers in the 'BB' category. While
the company's forecast leverage is consistent with the 'BBB' rating
category, Fitch believes the 'BB' rating category is indicative of
the flexibility needed to fulfill the company's acquisitive
strategy.

Fitch believes the rating is supported by the leverage profile in
line with similarly rated peers, declining cyclicality, strong FCF
and growing competitive advantages, while historical volatility of
profitability and a debt-funded acquisitive strategy act as the
leading constraints of the rating in comparison to peers. No
country-ceiling, parent/subsidiary or operating environment aspects
impacted the rating.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for the issuer
include:

-- Acquisition of Atotech closes in 2021, funded by readily
    available cash, as well as the issuance of a new $500 million
    undrawn RCF, a $4.28 billion Term Loan B, a $1 billion Euro
    equivalent term loan B and $1.6 billion of equity to Atotech
    shareholders;

-- MKSI standalone growth of 24% in fiscal 2021, contribution of
    Atotech acquisition in fiscal 2022 and organic growth of 4%-6%
    thereafter;

-- EBITDA margin of 29% in fiscal 2021 with expansion of 50 bps
    per annum due to gradual realization of $50 million cost
    synergies and improving bargaining position relative to
    customers;

-- Capital intensity of 3% per annum, consistent with historical
    average;

-- Dividends of $47 million in fiscal 2021, stepping up to $58
    million in fiscal 2022 due to equity issuance in connection
    with Atotech acquisition, growing 3% per annum thereafter;

-- Debt repayments of $550 million-$650 million in per annum.

RATING SENSITIVITIES

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

-- Reduced volatility of profitability;

-- Increased customer and end-market diversification;

-- Mid-cycle leverage or a publicly announced explicit leverage
    defined as total debt with equity credit/operating EBITDA at
    or below 2.75x.

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

-- Mid-cycle leverage defined as total debt with equity
    credit/operating EBITDA at or above 3.5x;

-- Cash Flow from operations - Capex/total debt with equity
    credit sustained below 15%;

-- Sustained revenue declines or margin compression due to
    decreased bargaining power relative to customers or decreased
    competitive advantage.

BEST/WORST CASE RATING SCENARIO

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

LIQUIDITY AND DEBT STRUCTURE

Ample Liquidity: Fitch expects abundant liquidity for MKSI over the
rating horizon. Pro forma for the transaction, liquidity will be
comprised of $800 million of readily available cash and an undrawn
$500 million senior secured RCF. Liquidity is further supported by
Fitch's expectation for $1.4 billion of aggregate FCF over the
rating horizon following the transaction.

ISSUER PROFILE

MKS provides process control and precision manufacturing solutions.
Primary served markets include semiconductor, industrial
technologies, life and health sciences, research and defense.

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.


MOBIQUITY TECHNOLOGIES: Salkinds Buy Additional 375K Common Shares
------------------------------------------------------------------
Dr. Gene Salkind (and Catherine Salkind) converted 1,500 shares of
Series C Preferred Stock into 375,000 shares of common stock and
warrants to purchase an additional 375,000 shares of common stock
of Mobiquity Technologies, Inc.  These warrants are exercisable at
$48 per share through Sept. 20, 2023.  Exemption from registration
is claimed under Section 3(a)(9) of the Securities Act of 1933, as
amended, as an exchange of securities of the same issuer without
any compensation being paid.

                          About Mobiquity

Headquartered in Shoreham, NY, Mobiquity Technologies, Inc. owns
100% of Advangelists, LLC and 100% of Mobiquity Networks, Inc. as
wholly owned subsidiaries.  Advangelists is a developer of
advertising and marketing technology focused on the creation,
automation, and maintenance of an advertising technology operating
system (or ATOS).  Advangelists' ATOS platform blends artificial
intelligence (or AI) and machine learning (ML) based optimization
technology for automatic ad serving that manages and runs digital
advertising inventory and campaigns.  Mobiquity Networks has
evolved and grown from a mobile advertising technology company
focused on driving Foot-traffic throughout its indoor network, into
a next generation location data intelligence company.

Mobiquity reported a net comprehensive loss of $15.03 million for
the year ended Dec. 31, 2020, compared to a net comprehensive loss
of $44.03 million for the year ended Dec. 31, 2019.  As of June 30,
2021, the Company had $7.19 million in total assets, $6.59 million
in total liabilities, and $594,559 in total stockholders' equity.

Lakewood, Colo.-based BF Borgers CPA PC, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated March 31, 2021, citing that the Company has suffered
recurring losses from operations and has a significant accumulated
deficit.  In addition, the Company continues to experience negative
cash flows from operations.  These factors raise substantial doubt
about the Company's ability to continue as a going concern.


MURRIETA HOLDINGS: Case Summary & Unsecured Creditor
----------------------------------------------------
Debtor: Murrieta Holdings 2012-12 LLC
        213 Park Avenue
        Laguna Beach, CA 92651

Business Description: Murrieta Holdings 2012-12 LLC is engaged in
                      activities related to real estate.

Chapter 11 Petition Date: October 6, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-12430

Debtor's Counsel: David G. Epstein, Esq.
                  THE DAVID ESPSTEIN LAW FIRM
                  PO Box 4858
                  Laguna Beach, CA 92652
                  Tel: (949) 637-4048
                  Email: depsteinlaw@icloud.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by D. Scott Abernethy as authorized
representative of the Debtor.

The Debtor listed Ford & Diulio as its sole unsecured creditor
holding a claim of $35,000.

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

https://www.pacermonitor.com/view/LNIEA6Q/Murrieta_Holdings_2012-12_LLC__cacbke-21-12430__0001.0.pdf?mcid=tGE4TAMA


MYOMO INC: AIGH Capital Has 6.3% Stake as of Sept. 20
-----------------------------------------------------
AIGH Capital Management, LLC and Orin Hirschman disclosed in a
Schedule 13G filed with the Securities and Exchange Commission that
as of Sept. 20, 2021, they beneficially own 363,630 shares of
common stock of Myomo, Inc., which represents 6.3 percent of the
shares outstanding.  Mr. Hirschman is the managing member of AIGH
Capital Management, LLC.  A full-text copy of the regulatory filing
is available for free at:

https://www.sec.gov/Archives/edgar/data/1131362/000149315221024739/sc13g.htm

                            About Myomo

Headquartered in Cambridge, Massachusetts, Myomo, Inc.
--http://www.myomo.com-- is a wearable medical robotics company
that offers expanded mobility for those suffering from
neurologicaldisorders and upper limb paralysis.  Myomo develops and
markets the MyoPro product line.  MyoPro is a powered upper limb
orthosis designed to support the arm and restore function to the
weakened or paralyzed arms of patients suffering from CVA stroke,
brachial plexus injury, traumatic brain or spinal cord injury, ALS
or other neuromuscular disease or injury.

Myomo reported a net loss of $11.56 million for the year ended Dec.
31, 2020, compared to a net loss of $10.71 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $17.71
million in total assets, $3.90 million in total liabilities, and
$13.81 million in total stockholders' equity.


MYOMO INC: Extends Term of GRE Services Agreement to March 2022
---------------------------------------------------------------
Myomo, Inc., entered into an Amendment No. 1 to the company's
existing Fabrication and Services Agreement, dated as of Jan. 21,
2021, with Geauga Rehabilitation Engineering, Inc., related to the
purchase of fabrication and other services from GRE through Dec.
31, 2021.  

Pursuant to the amendment, Myomo and GRE extended the term of the
Services Agreement to March 31, 2022.  The company will continue to
pay GRE a base fee per unit, subject to minimum volume guarantees
and adjustment in the event that GRE's costs or expenses increase
during the term of the Services Agreement.  The Services Agreement
shall be non-exclusive and remain in effect through March 31, 2022,
provided that the parties shall negotiate in good faith should
either party desire to further extend the term of the Services
Agreement, or the Services Agreement is terminated upon 90 days'
written notice by either party.

                            About Myomo

Headquartered in Cambridge, Massachusetts, Myomo, Inc.
--http://www.myomo.com-- is a wearable medical robotics company
that offers expanded mobility for those suffering from
neurologicaldisorders and upper limb paralysis.  Myomo develops and
markets the MyoPro product line.  MyoPro is a powered upper limb
orthosis designed to support the arm and restore function to the
weakened or paralyzed arms of patients suffering from CVA stroke,
brachial plexus injury, traumatic brain or spinal cord injury, ALS
or other neuromuscular disease or injury.

Myomo reported a net loss of $11.56 million for the year ended Dec.
31, 2020, compared to a net loss of $10.71 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $17.71
million in total assets, $3.90 million in total liabilities, and
$13.81 million in total stockholders' equity.


NAVIGANT DEVELOPMENT: Taps Cozen O'Connor as Bankruptcy Counsel
---------------------------------------------------------------
Navigant Development, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to employ the law firm
of Cozen O'Connor to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) advising the Debtor with respect to its rights, powers and
duties in connection with the administration of its estate and the
operation of its business;

     (b) advising the Debtor with respect to asset dispositions,
including sales, abandonment, and assumption or rejection of
executory contracts and unexpired leases, and taking necessary
actions to effectuate those dispositions;

     (c) assisting the Debtor in the negotiation, formulation and
drafting of a Chapter 11 plan;

     (d) taking necessary actions with respect to claims that may
be asserted against the Debtor and property of its estate;

     (e) preparing legal documents;

     (f) representing the Debtor with respect to inquiries and
negotiations concerning creditors and property of its estate;

     (g) initiating, defending or otherwise participating in all
proceedings before the bankruptcy court or any other court of
competent jurisdiction; and

     (h) performing other necessary legal services.

The firm's hourly rates are as follows:

     Robert M. Fishman, Esq.       $885 per hour
     Allen J. Guon                 $580 per hour
     Christina M. Sanfelippo       $435 per hour
     Patricia M. Fredericks        $295 per hour
     Associates                    $235 to $435 per hour
     Paraprofessionals             $295 to $305 per hour

The Debtor paid $25,000 to the law firm as prepayment for services
rendered in connection with the case.

Robert Fishman, Esq., one of the firm's attorneys who will be
handling the case, disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Robert M. Fishman, Esq.
     Allen J. Guon, Esq.
     Cozen O'Connor
     123 North Wacker Drive, Suite 1800
     Chicago, IL 60606
     Tel.: (312) 382-3100
     Fax: (312) 382-8910
     Email: mradtke@cozen.com

                  About Navigant Development LLC

Navigant Development, LLC, a Chicago-based company engaged in
renting and leasing real estate properties, filed its voluntary
petition for Chapter 11 protection (Bankr. N.D. Ill. Case No.
21-10645) on Sept. 15, 2021, listing as much as $10 million in both
assets and liabilities.  Anthony Tomaska, managing member, signed
the petition.  Judge Jacqueline P. Cox presides over the case.  
Allen J. Guon, Esq., at Cozen O'Connor represents the Debtor as
legal counsel.


NEW YORK BAKERY: Files Emergency Bid to Use Cash Collateral
-----------------------------------------------------------
The New York Bakery of Syracuse, Inc. asks the U.S. Bankruptcy
Court for the Northern District of New York for authority to, among
other things, use cash collateral on an interim basis through
October 29, 2021, and provide adequate protection.

The Debtor seeks permission to use cash collateral to pay employee
wages and other ordinary course operating expenses as well as
administrative expenses incurred in the Chapter 11 Case.

The Debtor filed its voluntary petition for relief as a result of a
steep decline in financial performance caused by a sharp drop in
orders received from its customers over the past year due to the
COVID-19 pandemic. This sudden loss of cash flow resulted in the
Debtor not being able to service its secured debt or pay its
significant legacy vendor claims. In addition, several creditors
recently obtained judgments against the Debtor, including secured
creditor New York Business Development Corporation d/b/a Pursuit
BDC, which obtained a judgment against the Debtor in the amount of
$2,335,031.55 on June 22, 2021 .

The parties with interests in the Cash Collateral are:

     (i) Pursuit, pursuant to (a) two prepetition term loans issued
to the Debtor on July 26, 2013 and August 16, 2018, respectively,
and (b) a collateral mortgage covering real property owned by the
Debtor located at 310 Lakeside Road, Syracuse, New York; and

    (ii) Solvay Bank pursuant to a prepetition revolving loan
agreement dated August 16, 2018.

On July 26, 2013, the Debtor, as borrower, executed and delivered
to New York Business Development Corporation (NYBDC), as lender, a
Note and a Loan and Security Agreement pursuant to which NYBDC
issued a term loan to the Debtor the original principal amount of
$2,778,000. As of the Petition Date, the principal balance due
under Term Loan #1 is $1,005,220.53, plus accrued interest,
attorneys' fees, and other charges.

On July 26, 2013, NYBDC, as lender, loaned the Debtor's affiliate,
Christou Associates, as borrower, the original principal sum of
$672,000, the repayment of which is secured by an Amended,
Restated, Spread and Consolidated Mortgage, Security Agreement and
Assignment of Leases and Rents dated July 26, 2013 and a first
position mortgage lien covering the Real Property. As of the
Petition Date, the principal balance due under the Collateral
Mortgage is $547,000.

On August 16, 2018, the Debtor, as borrower, executed and delivered
to NYBDC d/b/a Pursuit BDC, as lender, a Note and a Loan and
Security Agreement pursuant to which Pursuit issued a term loan to
the Debtor in the original principal amount of $2,372,600  (the
"Term Loan #2").  The Debtor subsequently defaulted on Term Loan #1
and Term Loan #2, and on June 22, 2021, Pursuit obtained the
Pursuit Judgment with respect to Term Loan #2. As of the Petition
Date, the judgment amount due in connection with Term Loan #2 is
$2,335,031.55, plus accrued interest, attorneys' fees, and
charges.

On August 16, 2018, the Debtor, as borrower, executed and delivered
to Solvay Bank, as lender, a Business Loan Agreement pursuant to
which Solvay Bank provided the Debtor with revolving advances for
short-term working capital. The Revolver Loan provides the Debtor
with a revolving credit facility of up to $850,000, as set forth in
the Business Loan Agreement. As of the Petition Date, the entire
sum of $850,000 is outstanding under the Revolver Loan.

The Debtor has received consent from NYBDC, Pursuit and Solvay Bank
to utilize the Cash Collateral in accordance with the budget
attached to the Interim Order. The Debtor's cumulative cash
disbursements will not exceed 10% of the projected amounts set
forth in the Budget.

Recently, the Debtor's revenues have declined, in part, due to the
COVID-19 pandemic and a reduction in orders placed by its
customers. During the past year, the Debtor has explored all
available options in an effort to reorganize its financial affairs.


On December 11, 2020, the Debtor engaged the services of Canty
Consulting to assess the Debtor's business plan, underlying
financial projections, liquidity management and outlook, and to aid
in the marketing of the Debtor's assets to prospective purchasers.
Before the bankruptcy filing, as part of its effort to address its
financial situation prior to commencing the Chapter 11 Case, the
Debtor, with the assistance of Canty, prepared materials for the
marketing of the Debtor's assets for sale and distribution to
potential interested parties. These efforts resulted in the receipt
of a proposed Asset Purchase Agreement from the TI-MA Holdings,
LLC, pursuant to which the Purchaser would acquire substantially
all of the Debtor's assets as a going concern for a purchase price
of $1,513,980.

The Purchaser has also agreed to provide prepetition and
post-petition financing to the Debtor in an amount up to $200,000
in order to ensure that the Debtor has sufficient additional
working capital, is able to operate as a going concern until the
sale closing date, and is able to satisfy all administrative
expense claims incurred in connection with the Chapter 11 Case. The
Financing will not need to be repaid by the Debtor if the Purchaser
is the successful purchaser of the Debtor's assets.

The Prepetition Secured Parties are willing to make Cash Collateral
available, solely in accordance with the Cash Collateral Orders.
They have also agreed to provide a carve-out in the amount of
$100,000 for the benefit of the unsecured creditors in the Chapter
11 Case.

As adequate protection for the use of Cash Collateral, the Debtor
proposes to provide the Prepetition Secured Parties with roll-over
adequate protection liens on all their respective PostPetition
Collateral, and provide interest-only payments to Solvay Bank.

A copy of the motion is available at https://bit.ly/3DcyG8S from
PacerMonitor.com.

            About The New York Bakery of Syracuse, Inc.

The New York Bakery of Syracuse, Inc. is a full service bakery
located in Syracuse, New York. The Debtor sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.Y. Case No.
21-30770) on October 4, 2021. In the petition signed by Chris
Christou, president, the Debtor disclosed $1,584,711 in assets and
$7,364,829 in liabilities.

Judge Diane Davis oversees the case.

Camille W. Hill, Esq., at Bond, Schoeneck and King, PLLC is the
Debtor's counsel.



NEWSTREAM HOTEL: Obtains 30-Day Access to Cash Collateral
---------------------------------------------------------
Judge Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District of Texas authorized Newstream Hotel Partners -
ABQ, LP to use cash collateral from the Petition Date through the
Termination Date to pay for expenses based on the approved budget.


The termination date is the earliest of (i) the date that is 30
days after entry of the current interim order, if the final order,
or an additional interim order, has not been entered by that date;
(ii) the occurrence of any termination event, and (iii) five
business days after the delivery of a default notice by Access
Point Financial, LLC f/k/a Access Point Financial, the Prepetition
Secured Lender.

The Debtor needs cash collateral for its working capital, for
general corporate purposes and for costs and expenses in
administering its Chapter 11 case.

As adequate protection for its interest in the cash collateral, the
Prepetition Secured Lender shall be granted continuing, valid and
fully perfected replacement liens and first priority security
interests in the Debtor's property and assets to the extent of
diminution of the prepetition Cash Collateral, subject to the
carve-out.  The carve-out includes, among other items, up to $5,000
in fees and expenses incurred by the Subchapter V Trustee.  

The Debtor owes the Prepetition Secured Lender not less than
$5,469,775, plus statutory attorney's fees, as provided for under
the loan documents, as of the Petition Date.  Its interest is
secured by a first, valid and perfected security interest in, and
lien on, all of the Debtor's Cash Collateral and other Prepetition
Collateral.

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

                       About Newstream Hotel

Newstream Hotel Partners - ABQ, LP owns a full-service hotel, the
SureStay Plus Hotel by Best Western Albuquerque I40 Eubanks,
located at 10330 Hotel Avenue NE, Albuquerque, N.M.

Newstream Hotel Partners - ABQ and affiliate Newstream Hotels &
Hospitality, LLC filed voluntary petitions for Chapter 11
protection (Bankr. E.D. Tex. Lead Case No. 21-41212) on Aug. 30,
2021.  In their petitions, Newstream Hotel Partners listed up to
$10 million in both assets and liabilities while Newstream Hotels &
Hospitality listed up to $50,000 in assets and up to $10 million in
liabilities.  Judge Brenda T. Rhoades oversees the cases.  Spencer
Fane, LLP is the Debtors' legal counsel.



NEXTPLAY TECHNOLOGIES: Closes Stock Exchange Deal With NextBank
---------------------------------------------------------------
NextPlay Technologies, Inc. entered into a Preferred Stock Exchange
Agreement with NextBank International, Inc., formerly known as
International Financial Enterprise Bank, Inc., a wholly-owned
subsidiary of the company, which is a Puerto Rico corporation
licensed as an Act 273-2012 international financial entity
headquartered in San Juan Puerto Rico), and which was acquired by
the company on July 21, 2021, as previously reported.

Pursuant to the Preferred Exchange Agreement, NextPlay agreed to
exchange 5,070,000 shares of the company's restricted common stock,
for 10,140 shares of cumulative, non-compounding, non-voting,
non-convertible, perpetual Series A preferred stock shares of
NextBank. The preferred shares have an aggregate face value of
$10,140,000, and accrue a 2% dividend, payable quarterly in
arrears. The preferred shares are non-redeemable; however, NextBank
may, by the vote of the holders of a majority of its common stock,
call and redeem the preferred shares in exchange for the common
shares plus accrued interest at the time of any such redemption.
Additionally, the preferred shares include a change of control
provision, whereby upon a change of control (as defined in the
Preferred Exchange Agreement), NextPlay may cause NextBank to
repurchase the preferred shares in exchange for the common shares,
plus accrued interest.

The Preferred Exchange Agreement included customary
representations, covenants and warranties of the parties, and
closing conditions which would be customary for a transaction of
this type.

The transactions contemplated by the Preferred Exchange Agreement
closed on Oct. 1, 2021.

                    About NextPlay Technologies

NextPlay Technologies, Inc. (formerly known as Monaker Group Inc.)
is a technology solutions company offering gaming, in-game
advertising, crypto-banking, connected TV and travel booking
services to consumers and corporations within a growing worldwide
digital ecosystem.  NextPlay's engaging products and services
utilize innovative AdTech, Artificial Intelligence and Fintech
solutions to leverage the strengths and channels of its existing
and acquired technologies.

Monaker Group reported a net loss of $16.51 million for the year
ended Feb. 28, 2021, compared to a net loss of $9.45 million for
the year ended Feb. 29, 2020.  As of May 31, 2021, the Company had
$49.78 million in total assets, $28.20 million in total
liabilities, and $21.58 million in total stockholders' equity.

Sugar Land, Texas-based TPS Thayer, LLC, the Company's auditor
since 2020, issued a "going concern" qualification in its report
dated June 7, 2021, citing that the Company has suffered recurring
losses from operations and has stockholders' deficit that raise
substantial doubt about its ability to continue as a going concern.


PG&E CORP: CEO Poppe Sees ‘No Basis’ for Dixie Criminal Charge
------------------------------------------------------------------
Will Wade and Mark Chediak, writing for Bloomberg News, reports
that the PG&E sees 'no basis' for criminal charge for Dixie fire.

PG&E Corp. Chief Executive Officer Patti Poppe sees "no basis for
criminal charges" related to the Dixie Fire, a Northern California
blaze that spread into five counties and has become the
second-largest in state history.

"Anyone can file criminal charges," Poppe said in an interview
Tuesday. "It's sort of the easiest thing someone can do, is file
criminal charges.  That doesn't mean there is a basis for criminal
charges."

Five California counties disclosed a joint investigation in
September to determine PG&E's possible criminal liability for
sparking the Dixie Fire, which began in July and has consumed more
than 960,000 acres (390,000 hectares).  The company remains on
criminal probation tied to a deadly natural-gas explosion in 2010,
and last month was charged with 31 criminal counts including
involuntary manslaughter for a separate blaze in 2020 in Shasta
County that killed four people.  The utility also is fighting
charges over a 2019 fire in Sonoma County.

Poppe, who took the helm at PG&E in January 2021, has vowed to
improve wildfire-prevention work and streamline operations.  Still,
the company continues to come under scrutiny for its role in
starting big wildfires, and its equipment is suspected of sparking
the Dixie Fire.

A PG&E worker discovered the start of the blaze while taking
several hours to investigate a power outage in the Sierra Nevada
mountains north of Sacramento.  The worker discovered a fire at the
base of a tree that had fallen into an electrical line.

Poppe said that the state has granted the utility a safety
certificate for its wildfire mitigation plan and therefore it's
deemed a prudent operator.

"I have a hard time understanding how a prudent operator can also
be a criminal.  I definitely know my co-workers are not," Poppe
said during an interview at PG&E's wildfire-risk command center in
San Ramon, California.

Shortly after the start of the Dixie Fire, PG&E increased the
sensitivity of its fault-detecting devices in high fire-risk areas
so that power would be cut faster in the event of an outage, Poppe
said.

"After the Dixie, we recognized a new hazard, that otherwise
healthy-looking trees on a still day are falling over and making
contact with our lines," Poppe said.  The drought has left more dry
fuels primed to burn, requiring the utility to take the extra steps
to prevent its lines from causing a spark, she said.

The change has resulted in an 85% reduction in ignition rates in
certain high fire-threat areas compared with the average ignition
rate from 2015 to 2020, PG&E said.  The policy has resulted in an
increase in the frequency of power outages for customers, although
the utility is working to reduce the impacts.

"For the first time ever, we have confidence in our ignition
reduction," Poppe said.

                      About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp.  Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical
Workers;(ii) the Engineers and Scientists of California; and (iii)
the Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.   Morrison &
Foerster LLP serves as special regulatory counsel.  Munger Tolles &
Olson LLP is also special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019.  The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants. The tort claimants' committee is represented by
Baker & Hostetler LLP.


PLAYER'S POKER: Seeks to Hire Falk & Sharp as Special Counsel
-------------------------------------------------------------
Player's Poker Club, Inc. seeks approval from the U.S. Bankruptcy
Court for the Central District of California to hire Falk & Sharp,
APC as special counsel.

The Debtor requires legal advice on state and federal gaming laws
and gaming licensing.   

Keith Sharp, the firm's attorney who will be providing the
services, will be paid at an hourly rate of $600.

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

The firm can be reached at:

     Keith Sharp, Esq.
     Falk & Sharp, APC
     301 N. Lake Avenue, Suite 1100
     Pasadena, CA 91101
     Tel.: (626) 793-6006
     Fax: (626) 604-3911

                     About Player's Poker Club

Ventura, Calif.-based Player's Poker Club, Inc. filed a petition
for Chapter 11 protection (Bankr. C.D. Calif. Case No. 21-10357) on
April 6, 2021, listing $3,061,422 in assets and $3,500,852 in
liabilities.  Patrick Berry, general manager, signed the petition.


Judge Martin R. Barash oversees the case.

The Debtor tapped Kogan Law Firm APC as bankruptcy counsel, Falk &
Sharp APC as special counsel, and Kallman + Logan & Company LLP and
RubinBrown LLP as accountants.


PRIMARY PRODUCTS: S&P Assigns 'BB-' on Acquisition, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings assigned a 'BB-' issuer credit rating to KPS
Capital Partners L.P. with a stable outlook.

S&P said, "At the same time, we assigned a 'BB-' issue-level rating
to the company's proposed senior secured credit facility consisting
of a $1.06 billion, seven-year senior term loan B and $100 million,
five-year revolving credit facility. The recovery rating is '3',
indicating our expectation for meaningful recovery (60% rounded
estimate) in the event of a payment default.

"The stable outlook reflects our expectation that Primary Products
will generate a stable EBITDA margin in the 15% area as it
transitions to operating on a stand-alone basis, generates annual
free operating cash flow (FOCF) well over $50 million, and sustains
debt to EBITDA in the low-3x area over the next year."

KPS Capital Partners L.P. is acquiring a controlling interest in
Tate & Lyle PLC's primary products business in North and Latin
America (Primary Products Holdings LLC)in a transaction valued at
$1.7 billion. The transaction will be funded with a combination of
debt and equity, resulting in pro forma leverage of 3.4x.

S&P said, "We expect Primary Products to sustain leverage in the
low-3x area but believe its financial risk profile is aggressive
because its financial sponsor controlling owners have not yet
established a financial policy track record. The transaction is a
joint venture that results in Tate & Lyle keeping a significant 49%
minority ownership stake but KPS becoming majority owner with board
of directors control over strategic and financial policy decisions.
KPS and Tate & Lyle plan to fund the acquisition with about 35%
equity and 65% debt, resulting in pro forma debt to EBITDA of about
3.4x. This moderate leverage coupled with a mid-teens percentage
EBITDA margin profile should result in annual discretionary cash
flow approaching $100 million by its second year of operations.
Although in our base case we project leverage improving to the
low-3x area as Primary Products repays debt with a portion of
excess cash flows, use of the cash buildup beyond 18 months is
unclear given the joint venture's lack of operating track record
under its new ownership structure. We do not anticipate the company
repaying debt beyond mandatory debt amortization and contractually
stipulated excess cash flow sweep requirements. Instead, we believe
it may consider opportunistic mergers and acquisitions (M&A) or
shareholder returns once operations are fully separated from Tate &
Lyle and Primary Products successfully operates on its own.
Therefore, we believe the company may adopt a more aggressive
leverage profile in the future."

Primary Products has market leading shares and a low-cost operating
footprint, albeit with a portfolio concentrated in corn-based
commodity ingredients with a largely U.S.-based manufacturing
footprint. The company is a leading U.S. manufacturer of corn-based
sweeteners with a moderate degree of diversification into other
corn derived products, including acidulants, industrial starches,
ethanol, animal feed, and corn oil. It has a strong customer
profile with limited customer concentration that primarily consists
of the world's leading food and beverage manufacturers. It executes
most sales under long-term contracts with commodity pass-through
agreements. In addition, Primary Products benefits from high
manufacturing utilization rates and a low-cost operating footprint.
Despite these strengths, the company's products are primarily
concentrated in low growth bulk commodity categories such as high
fructose corn syrup (HFCS) and other corn-based sweeteners. In
addition, its manufacturing footprint is concentrated in the U.S.
and production volumes rely heavily on Mexican sweetener exports to
remain profitable. More than 90% of sales are either in the U.S. or
Mexico. Substitution risk to other ingredients is likely to remain
well-mitigated by its products' low-cost advantage, but we believe
over time Primary Products needs to broaden its portfolio to remain
relevant with an increasing trend by major food manufacturers to
use more premium-priced, healthier value-added ingredients.

Primary Products will prioritize operating execution to improve its
growth and margin profile before possibly considering acquisitions
or shareholder returns. Its primary strategic focus will be to
improve operating execution and slowly shift its product mix into
faster expanding product categories. Therefore, we do not expect
shareholder returns or acquisitions over the next 12-18 months.
Instead, Primary Products is more likely to emphasize cost
improvement opportunities and invest in production capacity for
faster expanding products. It will fund these priorities primarily
through maintenance and growth capital expenditures (capex)
budgeted at about 1.4x depreciation. Cost improvements would
include more energy efficient equipment upgrades, procurement
savings, and ongoing continuous improvements projects. To that end,
the company is targeting $70 million in cost saving over the next
four years, which should help it sustain projected 15%-16% EBITDA
margins. In addition, Primary Products is looking to expand
manufacturing capabilities in faster growing products, including
specialty starches for food packaging, dextrose-based sweeteners,
and fermentation applications for the alcoholic beverage sector. To
the extent the company executes these initiatives, it should offset
its declining HFCS business and generate low-single-digit percent
sales growth.

S&P said, "The stable outlook reflects our expectation that Primary
Products will generate stable EBITDA margin in the 15% area as it
transitions to operating on a stand-alone basis, generates annual
FOCF well over $50 million, and sustains debt to EBITDA in the low
3x area.

"We could lower the rating if the company sustains debt to EBITDA
above 4.5x. This could occur if it faces higher than expected
operating costs, possibly related to one-time start-up costs, or
undertakes a large debt-financed acquisition."

An upgrade is unlikely until the company demonstrates a consistent
track record of operating on stand-alone bass with an EBITDA margin
in the 15%-16% range. In addition, an upgrade would be predicated
on it publicly committing to a targeting leverage ratio below 3x.



PROSPECT-WOODWARD HOME: Committee Taps McLane as Local Counsel
--------------------------------------------------------------
The official committee of unsecured creditors of The
Prospect-Woodward Home seeks approval from the U.S. Bankruptcy
Court for the District of New Hampshire to employ McLane Middleton,
Professional Association as its local counsel.

The firm's services include:

     (a) advising the committee with respect to the Debtor's
administration of its Chapter 11 case, including the committee's
rights, role and responsibilities in connection therewith;

     (b) attending meetings and negotiating with representatives of
the Debtor, regulatory authorities, creditors and other parties in
interest;

     (c) advising the committee in connection with any contemplated
sale of the Debtor's assets, Chapter 11 plan of reorganization or
other bankruptcy strategy;

     (d) advising the committee on matters relating to the
assumption, rejection or assignment of unexpired leases and
executory contracts;

     (e) assisting the committee in its examination and analysis of
the conduct of the Debtor's affairs;

     (f) assisting the committee in the review, analysis and
negotiation of any financing or funding agreements;

     (g) attending hearings and conferences as local counsel before
the bankruptcy court or the New Hampshire district court, and
meetings with the Office of the U.S. Trustee; and

     (h) performing all other necessary legal services.

The firm's hourly rates are as follows:

     Joseph A. Foster, Director        $525 per hour
     Christopher M. Dube, Of Counsel   $450 per hour
     Scott H. Harris. Director         $505 per hour

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

The firm can be reached through:

     Joseph A. Foster, Esq.
     Christopher M. Dube, Esq.
     McLane Middleton, Professional Association
     900 Elm Street, 10th Floor
     Manchester, NH 03101
     Telephone: (603) 628-1175
     Email: Joe.Foster@mclane.com

                   About Prospect-Woodward Homes

The Prospect-Woodward Home, doing business as Hillside Village
Keene, owns and operates a licensed continuing care retirement
facility with 222 units, comprised of 141 independent living units,
43 assisted living units, 18 memory care units, and 20 licensed but
not yet opened long-term nursing care units located at 95 Wyman
Road, Keene, N.H., comprising approximately 66 acres.

On Aug. 30, 2021, Prospect-Woodward Home sought Chapter 11
protection (Bankr. D.N.H. Case No. 21-10523), listing up to $50
million in assets and up to $100 million in liabilities. Judge
Bruce A. Harwood oversees the case.

The Debtor tapped Polsinelli, PC as bankruptcy counsel; Hinckley,
Allen & Snyder, LLP as special counsel; Silverbloom Consulting, LLC
as financial consultant; and OnePoint Partners, LLC as
restructuring advisor.  Toby B. Shea of OnePoint Partners serves as
the Debtor's chief restructuring officer.  Donlin, Recano &
Company, Inc. is the claims and noticing agent and administrative
agent.

The U.S. Trustee for Region 1 appointed an official committee of
unsecured creditors on Sept. 9, 2021.  Perkins Coie, LLP and McLane
Middleton, Professional Association serve as the committee's lead
bankruptcy counsel and local counsel, respectively.


PROSPECT-WOODWARD HOME: Committee Taps Perkins Coie as Lead Counsel
-------------------------------------------------------------------
The official committee of unsecured creditors of The
Prospect-Woodward Home seeks approval from the U.S. Bankruptcy
Court for the District of New Hampshire to retain Perkins Coie, LLP
as its lead bankruptcy counsel.

The firm's services include:

     (a) advising and consulting the committee with respect to the
Debtor's administration of its Chapter 11 case, including the
committee's rights, role and responsibilities in connection
therewith;

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

     (c) advising the committee in connection with any contemplated
Chapter 11 plan of reorganization or other bankruptcy strategy;

     (d) advising the committee on matters relating to the
assumption, rejection or assignment of unexpired leases and
executory contracts;

     (e) assisting the committee in its examination and analysis of
the conduct of the Debtor's affairs;

     (f) assisting the committee in the review, analysis and
negotiation of any financing or funding agreements;

     (g) taking all necessary actions to protect and preserve the
interests of the committee, including, without limitation, the
prosecution of actions on its behalf, negotiations concerning all
litigation in which the Debtor is involved, and reviewing and
analyzing all claims filed against the Debtor's estate;

     (h) appearing and advancing the committee's interests before
the bankruptcy court, potentially appellate courts and the U.S.
trustee;

     (i) preparing legal papers in support of positions taken by
the committee; and

     (j) performing all other necessary legal services.

The hourly rates for the firm's professionals most likely to be
involved in this matter are as follows:

     Eric E. Walke,r Partner       $895 per hour
     Kathleen Allare, Associate    $625 per hour
     Rachel Leibowitz, Paralegal   $300 per hour

In addition, the Debtor will reimburse Perkins Coie for
out-of-pocket expenses incurred.

Eric Walker, Esq., a partner at Perkins Coie, disclosed in court
filings that his firm is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     Eric E. Walker, Esq.
     Kathleen Allare, Esq.
     Perkins Coie LLP
     131 S. Dearborn Street, Suite 1700
     Chicago, IL 60603-5559
     Telephone: (312) 324-8400
     Facsimile: (312) 324-9400
     Email: ewalker@perkinscoie.com
            kallare@perkinscoie.com

                   About Prospect-Woodward Homes

The Prospect-Woodward Home, doing business as Hillside Village
Keene, owns and operates a licensed continuing care retirement
facility with 222 units, comprised of 141 independent living units,
43 assisted living units, 18 memory care units, and 20 licensed but
not yet opened long-term nursing care units located at 95 Wyman
Road, Keene, N.H., comprising approximately 66 acres.

On Aug. 30, 2021, Prospect-Woodward Home sought Chapter 11
protection (Bankr. D.N.H. Case No. 21-10523), listing up to $50
million in assets and up to $100 million in liabilities. Judge
Bruce A. Harwood oversees the case.

The Debtor tapped Polsinelli, PC as bankruptcy counsel; Hinckley,
Allen & Snyder, LLP as special counsel; Silverbloom Consulting, LLC
as financial consultant; and OnePoint Partners, LLC as
restructuring advisor.  Toby B. Shea of OnePoint Partners serves as
the Debtor's chief restructuring officer.  Donlin, Recano &
Company, Inc. is the claims and noticing agent and administrative
agent.

The U.S. Trustee for Region 1 appointed an official committee of
unsecured creditors on Sept. 9, 2021.  Perkins Coie, LLP and McLane
Middleton, Professional Association serve as the committee's lead
bankruptcy counsel and local counsel, respectively.


QUALITY REHABILITATION: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Quality Rehabilitation Network, Inc.
        11509 S. Fortuna Road
        Yuma, AZ 85367

Business Description: The Debtor operates in the health care
                      industry.

Chapter 11 Petition Date: October 6, 2021

Court: United States Bankruptcy Court
       District of Arizona

Case No.: 21-07539

Debtor's Counsel: Thomas H. Allen, Esq.
                  ALLEN BARNES & JONES, PLC
                  1850 N. Central Avenue, Suite 1150
                  Phoenix, AZ 85004
                  Tel: 602-256-6000
                  E-mail: tallen@allenbarneslaw.com

Estimated Assets: $100,001 to $500,000

Estimated Liabilities: $1,000,001 to $10 million

The petition was signed by Carl Malmquist as president.

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

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

https://www.pacermonitor.com/view/YXZJ4AY/QUALITY_REHABILITATION_NETWORK__azbke-21-07539__0001.0.pdf?mcid=tGE4TAMA


R.A. BORRUSO: Has Final OK on Cash Collateral Use
-------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida authorized R.A. Borruso, Inc. to use cash
collateral, on a final basis, through and including the effective
date of the Debtor's Chapter 11 plan.

The Debtor may use cash collateral to pay expenditures according to
the budget, which provided for total expenses in the following
amounts:

       $1,353 for the week from September 20 - 26, 2021;

       $5,454 for the week from September 27 - October 3, 2021;

       $1,500 for the week from October 4 - 10, 2021;

       $8,433 for the week from October 11 - 17, 2021; and

       $1,418 for the week from October 18 - 24, 2021.

Moreover, the Debtor is authorized to grant, as adequate protection
to its lenders, a replacement lien on all types of collateral in
which they held a security interest and lien as of the Petition
Date to the same extent, validity and priority held as of that
date.  

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

                     About R.A. Borruso, Inc.

R.A. Borruso, Inc., sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 20-06495) on August 27,
2020.  The Debtor's case is jointly administered with that of
affiliated companies, Nine Family Circle Holdings, Inc. and AJRANC
Insurance Agency, Inc. (Bankr. M.D. Fla. Lead Case No. 20-06493).
AJRANC Insurance Agency's case is the lead case.

In the petition signed by Ryan A. Borruso, president, the Debtor
R.A. Borruso disclosed up to $50,000 in assets and $10 million in
liabilities.  

Judge Caryl E. Delano oversees all three cases.

Scott A. Stichter, Esq., at Stichter, Riedel, Blain and Postler,
P.A. is the Debtors' counsel.



RENNOVA HEALTH: Secures Extra $500K From Preferred Stock Offering
-----------------------------------------------------------------
Rennova Health, Inc. completed the second closing of its offering
of shares of Series O Convertible Redeemable Preferred Stock.  The
offering was pursuant to the terms of the previously-announced
Securities Purchase Agreement, dated as of Sept. 7, 2021, between
the company and certain existing institutional investors of the
company.

The Purchase Agreement provided for the issuance of up to 1,100
shares of Series O Preferred Stock.  The first closing for 550
shares of Series O Preferred Stock occurred on Sept. 8, 2021.  The
company received proceeds of $500,000 for the second closing and
issued an additional 550 shares.  The Purchase Agreement restricted
the company's use of any proceeds of the issuances of the Series O
Preferred Stock, including to payroll and legal and accounting
expenses.

The shares of Series O Preferred Stock were issued in the second
closing in reliance on the exemption from registration contained in
Section 4(a)(2) of the Securities Act of 1933, as amended, and by
Rule 506 of Regulation D promulgated thereunder as a transaction by
an issuer not involving any public offering.

                       About Rennova Health

Rennova Health, Inc. -- http://www.rennovahealth.com/-- operates
three rural hospitals and a physician's office in Tennessee and a
physician's office in Kentucky and provides diagnostics and
supportive software solutions to healthcare providers.

Rennova Health reported a net loss of $18.34 million for the year
ended Dec. 31, 2020, compared to a net loss of $48.03 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$19.63 million in total assets, $60.97 million in total
liabilities, and a total stockholders' deficit of $41.34 million.

Salt Lake City, Utah-based Haynie & Company, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated April 15, 2021, citing that the Company has recognized
recurring losses and negative cash flows from operations, and
currently has minimal revenue producing activities.  This raises
substantial doubt about the Company's ability to continue as a
going concern.


RIOT BLOCKCHAIN: To Hold Site Tour of Whinstone Facility on Oct. 20
-------------------------------------------------------------------
Riot Blockchain, Inc. announced official investor tour of its
Whinstone Facility to be held on Oct. 20, 2021.

   * Riot acquired Whinstone US, Inc. in May 2021, with a developed
capacity of 300 megawatts (MW), competitive energy costs at an
estimated 2.5c/kWh, and an industry-leading Bitcoin mining
infrastructure development team.

   * Immediately following the acquisition, Riot announced a 400 MW
expansion of Bitcoin mining infrastructure at Whinstone.  The
expansion's first portion is estimated to be complete by Q1 2022
and the balance by Q2 2022.

   * Investor invitations are open for a firsthand look at Riot's
Whinstone Facility and for the opportunity to participate in a
meeting with the Riot and Whinstone management teams.

For information regarding attending the investor day, please
contact Phil McPherson, Vice President of Capital Markets at,
pmcpherson@riotblockchain.com.

                       About Riot Blockchain

Headquartered in Castle Rock, Colorado, Riot Blockchain --
http://www.RiotBlockchain.com-- specializes in cryptocurrency
mining with a focus on bitcoin.  The Company is expanding and
upgrading its mining operations by securing the most energy
efficient miners currently available.  Riot is headquartered in
Castle Rock, Colorado, and the Company's mining facility operates
out of upstate New York, under a co-location hosting agreement with
Coinmint.

Riot Blockchain reported a net loss of $12.67 million for the year
ended Dec. 31, 2020, compared to a net loss of $20.30 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$906.37 million in total assets, $192.21 million in total
liabilities, and $714.16 million in total stockholders' equity.


RIVERA FAMILY: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Rivera Family Holdings, LLC
        2811 Morning Glory Place
        Onalaska, WI 54650

Chapter 11 Petition Date: October 6, 2021

Court: United States Bankruptcy Court
       Western District of Wisconsin

Case No.: 21-12062

Debtor's Counsel: Galen W. Pittman, Esq.
                  PITTMAN & PITTMAN LAW OFFICES, LLC
                  712 Main Street
                  La Crosse, WI 54601
                  Tel: (608) 784-0841
                  Fax: (608) 784-2206
                  E-mail: Info@PittmanandPittman.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lynnae Rivera & Filiberto Rivera as
partners.

The Debtor stated it has no creditors holding unsecured claims.

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

https://www.pacermonitor.com/view/ELUBX6Y/Rivera_Family_Holdings_LLC_La__wiwbke-21-12062__0001.0.pdf?mcid=tGE4TAMA


ROCKDALE MARCELLUS: Seeks to Hire Reed Smith as Bankruptcy Counsel
------------------------------------------------------------------
Rockdale Marcellus, LLC and Rockdale Marcellus Holdings, LLC seek
approval from the U.S. Bankruptcy Court for the Western District of
Pennsylvania to employ Reed Smith, LLP to serve as legal counsel in
their Chapter 11 cases.

The firm's services include:

     a. advising the Debtors with respect to their powers and
duties in the continued management and operation of their business
and properties;

     b. attending meetings and negotiating with representatives of
creditors and other parties in interest, and consulting the Debtors
on the conduct of their bankruptcy cases, including all of the
legal and administrative requirements of operating in Chapter 11;

     c. taking all necessary action to protect and preserve the
Debtors' estates, including the prosecution of actions on their
behalf, the defense of any actions commenced against the estate,
and negotiations concerning all litigation in which the Debtors may
be involved and objections to claims filed against the estates;

     d. preparing legal papers;

     e. appearing in the bankruptcy court and any appellate courts
and before the U.S. trustee;

     f. taking necessary actions to obtain confirmation of the
Debtors' plan of reorganization or approval of the sale of the
Debtors' assets; and

     g. performing all other necessary legal services.

Reed Smith received from the Debtor the sum of $250,000 as an
advanced payment retainer.

The firm's hourly rates are as follows:

       Partners      $550 to $1,210 per hour
       Associates    $310 to $950 per hour
       Paralegals    $130 to $565 per hour

In addition, Reed Smith will seek reimbursement for expenses.

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

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Mr.
Alaniz disclosed that:

     -- Reed Smith has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement;

     -- No Reed Smith professional included in the engagement has
varied his rate based on the geographic location of the bankruptcy
case;

     -- Reed Smith represented the Debtors during the 12-month
period prior to the petition date, during which the firm charged
the Debtors its standard rates; and

     -- Reed Smith, the Debtors and their financial advisor expect
to develop a prospective budget and staffing plan to comply with
the U.S. trustee's requests for information and additional
disclosures, recognizing that in the course of complex Chapter 11
cases, there may be unforeseeable fees and expenses that will need
to be addressed.

The firm can be reached through:

     Omar J. Alaniz, Esq.
     Reed Smith LLP
     225 Fifth Avenue, Suite 1200
     Pittsburgh, PA 15222
     Tel: 412-288-3131
     Email: lsizemore@reedsmith.com

                     About Rockdale Marcellus

Rockdale Marcellus is a northeast Pennsylvania natural gas driller.
It owns and operates 66 producing wells on 42,897 net acres in
three northeast Pennsylvania counties.

On Sept. 21, 2021, Rockdale Marcellus, LLC and Rockdale Marcellus
Holdings, LLC filed petitions for Chapter 11 protection (Bankr.
W.D. Pa. Lead Case No. 21-22080). The Debtors' cases have been
assigned to Judge Gregory L. Taddonio.

Rockdale Marcellus, LLC listed $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

The Debtors tapped Reed Smith, LLP as bankruptcy counsel; Quinn
Emanuel Urquhart & Sullivan, LLP as special litigation counsel;
Huron Consulting Services, LLC as restructuring advisor; and
Houlihan Lokey Capital, Inc. as investment banker.  Epiq is the
claims and noticing agent and administrative agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases
on Oct. 1, 2021.


ROCKDALE MARCELLUS: Taps Epiq as Administrative Agent
-----------------------------------------------------
Rockdale Marcellus, LLC and Rockdale Marcellus Holdings, LLC seek
approval from the U.S. Bankruptcy Court for the Western District of
Pennsylvania to hire Epiq Corporate Restructuring, LLC as
administrative agent.

The firm's services include:

     (a) assisting in the preparation and filing of the Debtors'
schedules of assets and liabilities and statement of financial
affairs, to the extent necessary;

     (b) managing the preparation, compilation and mailing of
documents to creditors and other parties in interest in connection
with the solicitation of a Chapter 11 plan;

     (c) collecting and tabulating votes in connection with any
plan filed by the Debtors and providing ballot reports to the
Debtors and their professionals;

     (d) generating an official ballot certification and
testifying, if necessary, in support of the ballot tabulation
results; and

     (e) managing any distributions made pursuant to a confirmed
plan.

The firm's hourly rates are as follows:

     Senior management                     $195 - $215 per hour
     Project managers                      $85 - $195 per hour
     Administrative and clerical staff     $35 - $85 per hour

Sophie Frodsham, the firm's consulting director, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Sophie Frodsham
     Epiq Corporate Restructuring, LLC
     777 Third Avenue, 12th Floor
     New York, NY 10017
     Tel: +1 212 225 9200

                     About Rockdale Marcellus

Rockdale Marcellus is a northeast Pennsylvania natural gas driller.
It owns and operates 66 producing wells on 42,897 net acres in
three northeast Pennsylvania counties.

On Sept. 21, 2021, Rockdale Marcellus, LLC and Rockdale Marcellus
Holdings, LLC filed petitions for Chapter 11 protection (Bankr.
W.D. Pa. Lead Case No. 21-22080). The Debtors' cases have been
assigned to Judge Gregory L. Taddonio.

Rockdale Marcellus, LLC listed $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

The Debtors tapped Reed Smith, LLP as bankruptcy counsel; Quinn
Emanuel Urquhart & Sullivan, LLP as special litigation counsel;
Huron Consulting Services, LLC as restructuring advisor; and
Houlihan Lokey Capital, Inc. as investment banker.  Epiq is the
claims and noticing agent and administrative agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases
on Oct. 1, 2021.


ROCKDALE MARCELLUS: Taps Quinn Emanuel as Litigation Counsel
------------------------------------------------------------
Rockdale Marcellus, LLC and Rockdale Marcellus Holdings, LLC seek
approval from the U.S. Bankruptcy Court for the Western District of
Pennsylvania to employ Quinn Emanuel Urquhart & Sullivan, LLP as
their special litigation counsel.

Quinn Emanuel will be representing the Debtors in the following
cases: In re Intelstat S.A., No. 20-32299 (Bankr. E.D. Va.); In re
LATAM Airlines Group S.A., No. 20-11254 (Bankr. S.D.N.Y.); In re
Chinos Holdings, Inc., No. 20-32181 (Bankr. E.D. Va.); In re
Cinemex U.S. Real Estate Holdings, Inc., No. 20-14695 (Bankr. S.D.
Fla.); In re Sanchez Energy Corp., No. 19-34510 (Bankr. S.D.
Texas); In re J. C. Penney Co., No. 20-33801 (Bankr. S.D. Texas).

The firm's hourly rates are as follows:

     Benjamin Finestone     $1,385 per hour
     Marc Greenwald         $1,530 per hour
     Christopher Porter     $1,200 per hour
     Donald Reinhard        $1,130 per hour
     Ari Roytenberg         $1,065 per hour
     Sara Turk              $720 per hour
     Devin van der Hahn     $1,130 per hour
     Paraprofessionals      $415 to $580 per hour

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

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases,
Benjamin I. Finestone, Esq., a partner at Quinn Emanuel, disclosed
that:

     -- Quinn Emanuel has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement;

     -- No Quinn Emanuel professional included in the engagement
has varied his rate based on the geographic location of the
bankruptcy case;

     -- Quinn Emanuel has not represented the Debtors in the 12
months prior to the petition date; and

     -- Quinn Emanuel will submit periodic budgets to the Debtors.


The firm can be reached through:

      Benjamin I. Finestone, Esq.
      Quinn Emanuel Urquhart & Sullivan, LLP
      51 Madison Avenue, 22nd Floor,
      New York, NY 10010
      Direct Tel: +1 212-849-7341
      Direct Fax: +1 212-849-7100
      Email: benjaminfinestone@quinnemanuel.com

                     About Rockdale Marcellus

Rockdale Marcellus is a northeast Pennsylvania natural gas driller.
It owns and operates 66 producing wells on 42,897 net acres in
three northeast Pennsylvania counties.

On Sept. 21, 2021, Rockdale Marcellus, LLC and Rockdale Marcellus
Holdings, LLC filed petitions for Chapter 11 protection (Bankr.
W.D. Pa. Lead Case No. 21-22080). The Debtors' cases have been
assigned to Judge Gregory L. Taddonio.

Rockdale Marcellus, LLC listed $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

The Debtors tapped Reed Smith, LLP as bankruptcy counsel; Quinn
Emanuel Urquhart & Sullivan, LLP as special litigation counsel;
Huron Consulting Services, LLC as restructuring advisor; and
Houlihan Lokey Capital, Inc. as investment banker.  Epiq is the
claims and noticing agent and administrative agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases
on Oct. 1, 2021.


ROCKLAND INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Rockland Industries, Inc.
        235 Calhoun Street
        Bamberg, SC 29003

Business Description: Rockland Industries, Inc. is part of the
                      textile and fabric finishing and fabric
                      coating mills industry.  Its products
                      are designed for both commercial and
                      residential applications.

Chapter 11 Petition Date: October 5, 2021

Court: United States Bankruptcy Court
       District of South Carolina

Case No.: 21-02590

Judge: Hon. David R. Duncan

Debtor's Counsel: Michael M. Beal, Esq.
                  BEAL, LLC
                  PO Box 11277
                  Columbia, SC 29211
                  Tel: 803-728-0803
                  Email: ccooper@bealllc.com

Total Assets: $4,555,746

Total Liabilities: $3,878,693

The petition was signed by Mark Berman 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/LG7LLNA/Rockland_Industries_Inc__scbke-21-02590__0001.0.pdf?mcid=tGE4TAMA


ROI INDUSTRIES: Taps Rettig Corp. as Turnaround Consultant
----------------------------------------------------------
ROI Industries Group, Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of North Carolina to hire Rettig
Corporation as its turnaround consultant and bookkeeper.

The firm will receive a monthly fee of up to $3,500 for the
turnaround advisory services and a monthly fee of $500 for
bookkeeping services.

The Debtor paid $3,500 to the firm in September.

Patrick Rettig, chief executive officer of Rettig Corporation,
disclosed in a court filing that he is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Patrick Rettig
     Rettig Corporation
     P.O. Box 2676
     Riverside, CA 92516
     Tel.: 760 662 9668
     Email: admin@rettigcorp.com

                     About ROI Industries Group

ROI Industries Group, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. M.D.N.C. Case No. 21-80134) on April 7,
2021. At the time of the filing, the Debtor disclosed total assets
of up to $500,000 and total liabilities of up to $1 million. Judge
Benjamin A. Kahn oversees the case.

Northern Blue, LLP and Nelson & Company, PA serve as the Debtor's
legal counsel and accountant, respectively.  Rettig Corporation is
the Debtor's turnaround consultant and bookkeeper.


RURAL CONNECT: Seeks to Hire Glankler Brown as Bankruptcy Counsel
-----------------------------------------------------------------
Rural Connect, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Tennessee to hire Glankler Brown, PLLC
to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) preparing bankruptcy schedules, statement of financial
affairs and reports;

     (b) preparing legal documents required in the administration
of the reorganization proceeding;

     (c) formulating and submitting to creditors a plan of
reorganization and preparing motions to approve the sale of assets;
and

     (d) providing other necessary legal services.

The firm's hourly rates are as follows:

     Michael P. Coury, Esq.     $450 per hour
     Ricky L. Hutchens, Esq.    $275 per hour
     Jeanie Bouck               $200 per hour

Michael Coury, Esq., the firm's attorney who will be providing the
services, disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Michael P. Coury, Esq.
     Glankler Brown, PLLC
     Suite 400, 6000 Poplar Avenue
     Memphis, TN 38119
     Tel: 901-525-1322
     Fax: 901-525-2389
     Email: mcoury@glankler.com

                        About Rural Connect

Rural Connect, LLC, an Alamo, Tenn.-based wireless internet service
provider, filed a petition for Chapter 11 protection (Bankr. W.D.
Tenn. Case No. 21-10872) on Sept. 29, 2021, listing up to $50,000
in assets and up to $10 million in liabilities.  Thomas P. Farrell,
general manager, signed the petition.  Judge Jimmy L. Croom
oversees the case.  The Debtor tapped Glankler Brown, PLLC as legal
counsel.


SILVER PLAZA: Gets OK to Hire Real Estate Brokers
-------------------------------------------------
Silver Plaza, LLLP received approval from the U.S. Bankruptcy Court
for the Western District of Washington to hire Tim Chin and Sun
Choy of Kidder Matthews as real estate brokers.

The Debtor requires the services of a real estate broker to market
and sell its property located at 10521 19th Ave. SE, Everett,
Wash.

Kidder Matthews will be paid a commission fixed at 5 percent of the
total sale price, with 2 percent to be paid to the buyer's agent.

Tim Chin, vice president of Kidder Matthews, disclosed in a court
filing that he is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Tim Chin
     Kidder Mathews
     500 108th Avenue NE, Suite 2400
     Bellevue, WA 98004
     Tel.: (425) 450-1119
     Email: Tim.Chin@kidder.com

                         About Silver Plaza

Everett, Wash.-based Silver Plaza, LLLP filed a petition for
Chapter 11 protection (Bankr. W.D. Wash. Case No. 21-11592) on
Aug.
19, 2021, listing $4,023,261 in assets and $6,556,398 in
liabilities.  Rongfang Chan, managing partner, signed the petition.
Judge Marc Barreca oversees the case.  The Debtor tapped Vortman &
Feinstein as legal counsel.


SK INVICTUS: S&P Raises ICR to 'B+'; Outlook Stable
---------------------------------------------------
S&P Global Ratings raised its issuer credit rating on SK Invictus
Intermediate II S.a.r.l. (doing business as Perimeter Solutions)
to 'B+' from 'B'. S&P also assigned its 'B+' issue-level and '3'
recovery ratings to the company's new senior secured debt.

The stable outlook reflects S&P's expectation that Perimeter
Solutions' recent performance will lead to adjusted debt to EBITDA
of 4x-5x, and that the company will benefit from an increased
emphasis on product and geographic diversification.

Following the close of the transaction, Perimeter Solutions'
leverage will improve, and the company will become publicly traded.
S&P said, "Following the transaction, we expect credit measures to
improve as the result of decreased book debt, improved EBITDA, and
improved operating results following a stronger-than-expected 2021
fire season. In addition, the sale of Perimeter Solutions to
EverArc removes the financial sponsor-owned FS-6 modifier that
previously constrained the financial risk profile. We now project
that weighted-average adjusted debt to EBITDA will improve to the
4x-5x range in 2021, from about 5x previously. The transaction will
be funded with a mix of new and existing equity from EverArc
investors and new senior secured notes. The company's earnings are
tied directly to natural disasters, particularly wildfires, and
thus, there is unpredictability and uncertainty related to future
earnings. However, with reduced book debt and a normalized fire
season, we expect leverage to remain between 4x and 5x. In 2019,
there were significantly fewer wildfires because of record rainfall
that year in the U.S., which we believe is unlikely to repeat over
the next few years. Overall, the transaction and the operating
performance provide positive signs for Perimeter Solutions."

The company is lessening volatility through geographic
diversification and product enhancements. Perimeter Solutions is
mitigating risks associated with earnings that rely heavily on the
North America fire season. Historically, the company's fire safety
earnings have been heavily weighted to the third quarter,
coinciding with the busy U.S. wildfire months. The company has
improved its preventative fire safety business to supply businesses
such as utilities, which gives Perimeter Solutions' customers the
ability to apply preventative fire retardants year-round to help
mitigate future fires. This business will add some stability to
future earnings and contribute to future growth. Additionally, the
company is seeking to expand its reach beyond North America, and
this could stabilize earnings beyond the third quarter. Perimeter
Solutions mitigates fire season variability through tier-priced
contracts, pretreatment fire prevention, and geographic
diversification.

Perimeter Solutions benefits from high barriers to entry and strong
profitability measures. The company holds leading market positions
and benefits from high barriers to entry, specifically within the
fire-retardant segment as a provider of fire retardants for the
U.S. Forest Service. The company benefits from a large service
component that enables it to maintain long-standing customer
relationships with government agencies. Although the company's
fire-safety products fall within governmental budgets, they are
under the suppression budget and do not solely depend on the
economy. In addition to leading market positions in its fire
retardant and class-A foams business segments, Perimeter Solutions
is a market leader in lubricant quality phosphorus pentasulfide
(P2S5) and owns the largest tote bin fleet worldwide, which is
required for safe storage and transport of P2S5. Given the
company's leading market positions, strong barriers to entry, and
customer stickiness, it benefits from strong profitability. When
compared to higher-rated peers like Chemours, Perimeter Solutions
has lower scale of operations, weaker geographic diversity, and
operates in a niche segment.

S&P said, "The stable rating outlook on Perimeter Solutions
reflects our expectation that weighted-average debt to EBITDA will
remain between 4x and 5x over the next 12 months as the result of
the stronger-than-expected operating results. Following a
historically weak 2019 fire season, there was a significant
increase in 2020 North America wildfires, which directly improved
operating results that continued in 2021. Given its highly
unpredictable earnings, which come primarily in the third quarter
and are tied directly to wildfires, the company's leverage ratios
and earnings over the past two years have varied drastically."

S&P could take a negative rating action within the next 12 months
if:

-- Perimeter Solutions has weaker-than-expected end-market demand,
driven by a slow fire season in the U.S. or if competition enters
the fire retardant market, causing weighted-average debt to EBITDA
to weaken and remain above 5.0x;

-- Liquidity significantly lessens such that free cash flow turns
negative for consecutive quarters, sources overuses is less than
1.2x, or the company utilizes its revolver, causing the covenant to
spring and leaving the company out of compliance; or

-- Perimeter Solutions pursues large debt-funded shareholder
rewards or acquisitions.

S&P said, "Although unlikely, we could take a positive rating
action on Perimeter Solutions over the next 12 months if operating
performance greatly exceeds our expectations, such that leverage is
sustained below 4x and management commits to operating as a public
company with financial policies consistent with a higher rating. In
addition, if the company were to significantly improve its scale
and diversification while maintaining credit measures, we could
take a positive rating action."



SRI VARI CRE: Wins Cash Collateral Access Thru Oct 26
-----------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina, Charlotte Division, has authorized Sri Vari CRE
Development, LLC to continue using cash collateral through 11:59
p.m. on October 26, 2021, the date of the continued hearing.

The Debtor and its secured lender, M2 Steele Creek CY LLC, have
agreed the Debtor may continue to use cash collateral through and
including the date of the Continued Hearing on the conditions set
forth in the First Interim Order.

The October 26 hearing will be held at 9:30 a.m. in the U.S.
Bankruptcy Court, Charles Jonas Federal Building, JCW Courtroom 2B,
401 West Trade Street, in Charlotte, North Carolina.

A copy of the order is available for free at https://bit.ly/3ixYNz1
from PacerMonitor.com.

                  About Sri Vari CRE Development

Sri Vari CRE Development, LLC is a limited liability company formed
in 2017 under the laws of the State of North Carolina. The company
owns and operates the Courtyard by Marriott branded hotel located
at 8536 Outlets Boulevard in Charlotte, N.C.

Sri Vari CRE Development sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. N.C. Case. No. 21-30250) on April 29,
2021.  In the petition signed by Anuj N. Mittal, manager, the
Debtor disclosed up to $50 million in assets and up to $10 million
in liabilities.  Judge Laura T. Beyer presided over the case before
Judge J. Craig Whitley took over.  The Debtor tapped Richard S.
Wright, Esq., at Moon Wright & Houston, PLLC, as legal counsel and
Greerwalker, LLP as financial advisor.



STURGEON AQUAFARMS: Seeks to Hire Linda Leali as Bankruptcy Counsel
-------------------------------------------------------------------
Sturgeon Aquafarms, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to hire Linda Leali,
P.A. to serve as legal counsel in its Chapter 11 case.

The firm's services include:

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

     (b) attending meetings and negotiating with representatives of
creditors and other parties-in-interest and consulting the Debtor
on the conduct of the case, including all of the legal and
administrative requirements of operating in Chapter 11;

     (c) advising the Debtor in connection with any contemplated
sales of assets or business combinations, formulating and
implementing bidding procedures, evaluating competing offers,
drafting appropriate corporate documents with respect to the
proposed sales, and counseling the Debtor in connection with the
closing of such sales;

     (d) advising the Debtor in connection with post-petition
financing and cash collateral arrangements, pre-bankruptcy
financing arrangements, emergence financing and capital structure,
and negotiating and drafting documents relating thereto;

     (e) advising the Debtor on matters relating to the evaluation
of the assumption, rejection or assignment of unexpired leases and
executory contracts;

     (f) providing advice to the Debtor with respect to legal
issues arising in or relating to its ordinary course of business;

     (g) taking all necessary action to protect and preserve the
Debtor's estate, including the prosecution of actions on its
behalf, the defense of any actions commenced against the estate,
negotiations concerning all litigation in which the Debtor may be
involved and objections to claims filed against the estate;

     (h) preparing legal papers;

     (i) negotiating and preparing a plan of reorganization,
disclosure statement and all related agreements or documents, and
taking any necessary action to obtain confirmation of such plan;

     (j) attending meetings with third parties and participating in
negotiations;

     (k) 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;
   
     (l) appearing before the bankruptcy court, any appellate
courts and the U.S. trustee;

     (m) coordinating with the Subchapter V Trustee; and

     (n) performing all other necessary legal services.

The firm's hourly rates are as follows:

     Linda Leali, Esq.    $450 per hour
     Frank Eaton, Esq.    $450 per hour
     Paraprofessionals    $135 per hour

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

Linda Leali, Esq., the firm's attorney who will be providing the
services, disclosed in a court filing that she is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Linda Leali, Esq.
     Linda Leali, P.A.
     2525 Ponce De Leon Blvd., Suite 300
     Coral Gables, FL 33134
     Email: lleali@lealilaw.com

                     About Sturgeon Aquafarms

Sturgeon Aquafarms, LLC is a Miami-based company that was founded
in 2001 with the intent to protect and preserve endangered sturgeon
species.

Sturgeon Aquafarms filed a petition for Chapter 11 protection
(Bankr. S.D. Fla. Case No. 21-19143) on Sept. 21, 2021, listing as
much as $10 million in both assets and liabilities.  Mark Gelman,
managing member, signed the petition.  The Debtor tapped Linda
Leali, P.A. as legal counsel.


TASEKO MINES: S&P Retains 'B-' ICR, Outlook Stable
--------------------------------------------------
S&P Global Ratings retained its 'B-' issuer credit rating and
stable outlook on Taseko Mines Ltd.

S&P Global Ratings said that Taseko's proposed US$50 million
revolving credit facility (RCF) is a positive step in securing
additional liquidity to fund the development of the company's
Florence Copper project (Arizona). The project has an estimated
capital cost of about US$230 million, and Taseko continues to
advance its detailed engineering in anticipation of near-term
regulatory approval. In S&P's view, the added credit capacity
reduces the need for external financing requirements to complete
the project, assuming it is sanctioned.

S&P said, "Taseko has increased its financial flexibility to
complete Florence as proposed relative to our previous review. The
company upsized its secured notes issuance in February 2021 to
US$400 million (from the US$325 million initially proposed),
thereby adding more cash to its balance sheet. Copper prices have
also remained near peak levels for much of this year and above our
assumption. We now estimate the company will come closer to fully
funding Florence from internal sources of cash.

"However, our 'B-' rating and stable outlook on Taseko are
unchanged and continue to incorporate the risks associated with its
single mining operations. In addition, Florence is a significant
undertaking for the company, with capital expenditure requirements
well in excess of any past investments. Notwithstanding
year-to-date improvement in its liquidity position, we believe the
company will remain sensitive to unexpected operating disruptions,
copper price volatility, and potential cost overruns during project
development. Therefore, any upside to the rating is likely to be
constrained until Taseko nears completion of the project.

The 'B-' issue-level rating and '4' recovery rating on Taseko's
senior secured notes are also unchanged. The proposed US$50 million
RCF will have a first-lien claim on the company's 75% interest in
the Gibraltar mine in priority to secured noteholder claims. The
impact is not sufficient to change S&P's expectation for average
(30%-50%, rounded estimate: 35%) recovery in its recovery analysis,
although S&P revised its rounded estimate to 35% from 45%.

ISSUE RATINGS – RECOVERY ANALYSIS

Key analytical factors:

-- S&P has updated its recovery analysis on Taseko to incorporate
its new first-lien secured revolving credit facility, and its
issue-level rating on the company's secured notes is unchanged.

-- The '4' recovery rating on Taseko's senior secured notes
indicates S&P's expectation for average (30%-50%; rounded estimate:
35%) recovery in the event of default, which corresponds with a
'B-' issue-level rating (no notching from the issuer credit rating
on the company).

-- S&P values the company as a going concern using a 5x multiple
(which is consistent with mining peers) of its projected emergence
EBITDA, which is linked to Taseko's estimated fixed charges in its
simulated default year (and inclusive of its new revolving credit
facility).

-- S&P's default scenario assumes persistent weakness in copper
prices and higher than expected costs associated with its Florence
development, which exhausts the company's liquidity.

Simulated default assumptions:

-- Simulated year of default: 2023
-- Revolver to be 85% drawn at default
-- Emergence EBITDA: About C$56 million
-- Multiple: 5x

Simplified waterfall:

-- Net enterprise value (after 5% administrative costs): C$265
million

-- Priority claims (subsidiary-level debt): About C$28 million

-- Secured first-lien debt claims: C$54 million

-- Total value available to second-lien secured noteholders: C$184
million

-- Senior second-lien secured notes claims: C$505 million

    --Recovery expectations: 30%-50% (rounded estimate: 35%)

All debt amounts include six months of prepetition interest.



TEEKAY CORP: S&P Places 'B+' Long-Term ICR on Watch Negative
------------------------------------------------------------
S&P Global Ratings placed its 'B+' long-term issuer credit and
issue-level ratings on Teekay Corp. on CreditWatch with negative
implications.

The CreditWatch placement reflects the potential for a downgrade at
or near the closing of the transaction.

The rating action follows Teekay LNG Partners L.P.'s announcement
of its pending acquisition by Stonepeak, an investment firm
specializing in infrastructure and real assets. The transaction has
been approved by the board of directors and is targeted to close by
the end of 2021. S&P assumes Teekay Corp. will partially use
proceeds from the sale of its common units in Teekay LNG (value of
about US$640 million) toward repaying its upcoming 2022 bond
maturity of about US$245 million.

S&P said, "Our analysis consolidates Teekay Corp.'s subsidiaries:
Teekay LNG and Teekay Tankers Ltd., in deriving our rating on the
parent. In our view, Teekay LNG's strong contracted revenue base
(98% of fleet fixed for the remainder of 2021 and 89% fixed for
2022) and earnings stability are the key drivers of our business
risk profile assessment and 'B+' rating on Teekay Corp. We estimate
Teekay LNG will account for a significant portion of the
consolidated cash flows in 2021. Although Teekay Tankers has a good
market position, about 95% of its fleet is exposed to the spot
market currently, which results in volatile earnings. Teekay Corp.
is in the process of divesting its floating production, storage,
and offtake (FPSO) business; on completion, there will be no
tangible collateral remaining at the parent.

"Accordingly, while we believe the transaction will improve Teekay
Corp.'s liquidity (we estimate the parent having a net cash
position of US$320 million post transaction) and its financial
position, we think the sale of the LNG segment will intensify
volatility in earnings and put pressure on our rating on Teekay
Corp. and, thus, it underpins the rating action.

"We expect to resolve the CreditWatch placement at or near the
transaction closing, which could occur by the end of 2021. We will
assess the ratings on Teekay Corp. based on the company's use of
proceeds and our view of its pro forma business and leverage
profile. We believe there is potential for us to lower the rating
by at least one notch."



TTM TECHNOLOGIES: Fitch Affirms 'BB' LT IDRs, Outlook Stable
------------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings
(IDRs) of TTM Technologies, Inc. and TTM Technologies China Limited
at 'BB' with a Stable Rating Outlook. Fitch has also affirmed the
senior secured debt rating of 'BBB-'/'RR1' for the ABL facilities
and the senior unsecured debt rating of 'BB'/'RR4'. Fitch has also
affirmed the senior secured debt rating and revised the recovery
rating for the term loans to 'BB+'/'RR2' from of 'BB+'/'RR1' and
has removed TTM Technologies, Inc. from Under Criteria Observation
(UCO). Fitch's actions affect approximately $1.2 billion of
committed and outstanding debt.

KEY RATING DRIVERS

Improved End-Market Mix: TTM has executed well on its strategy to
reduce operating volatility by seeking an increased mix of sales
into end markets with advantageous characteristics. The company
eliminated its exposure to deeply cyclical consumer electronic
device markets following the 2020 sale of manufacturing plants that
comprised its mobility business, while also discontinuing
operations at the low margin EMS business.

In place of these sales, TTM has increased its exposure to
favorable end markets, such as automotive and aerospace and defense
(A&D), which reached 13% and 37% of 2020 revenue respectively and
which are characterized by longer product cycles, greater
technological complexity, deeper customer engagement, lower threat
of competitive displacement and decreased order volatility. Fitch
believes the improved end-market mix contributes to lower revenue
volatility through economic and product cycles, introduces new
sources of secular growth, and presents opportunities for margin
enhancement through customer collaboration, increased advanced
product sales, improved production visibility and increased returns
on capital investment.

Reduced Customer Concentration: The divestiture of TTM's Mobility
business significantly reduces customer concentration by nearly
eliminating sales to the company's largest handset original
equipment manufacturer (OEM) customer that represented 15%-20% of
revenues during 2016-2019. While TTM's remaining OEM clients also
operate in concentrated markets, such as A&D, wireless
infrastructure and autos, the company's revenue exposure to its top
five clients has been reduced to 29% from 32%-37% during 2016-2019.
Fitch believes the remaining large customers improve revenue
stability and visibility through favorable secular trends, longer
product cycles and deeper design engagement.

Commitment to Leverage Target: TTM management has expressly
committed to a long-term net leverage target of 2.0x EBITDA. TTM
underscored the commitment through a $400 million prepayment of the
term loan and repayment of the $250 million convertible notes in
2020, funded by proceeds from the sale of the Mobility segment and
FCF, which returned gross leverage to 2.9x in FY20 with net
leverage well below the target at 1.3x. As strong FCF leads to
continued accumulation of cash, the company instituted a modest
$100m share repurchase program in order to progress upwards towards
the target over time. As the company continues to experience robust
demand trends in its end-markets, Fitch expects inflationary
pressures from input costs and labor shortages will lead to
moderate margin compression in FY21 and an increase in leverage to
3.5x before decreasing to below 3.0x in the following year, while
net leverage is forecast to remain below management's target over
the rating horizon.

Previously the company has demonstrated willingness to exceed the
target for M&A opportunities, but management historically
prioritized debt repayment to return to the long-term target in two
to three years following an acquisition. The 2015 Viasystems
acquisition took pro forma net leverage (excluding synergies) to
4.1x and was followed by $220 million in voluntary debt prepayment,
reducing net leverage to 2.1x by YE 2016. The 2018 Anaren
acquisition was similarly followed by an initial $144 million in
voluntary term loan prepayments.

Product Necessity: TTM produces printed circuit boards (PCBs),
which are used to connect the underlying circuitry in nearly all
electronic and computing products. Given the product's necessity,
long-term demand for PCBs is secure, despite short-term economic
cyclicality. Fitch believes the ubiquitous nature of and
sustainable demand for PCBs is supportive of the company's credit
profile.

Reliable FCF Generation: TTM generated FCF margins ranging from
5%-6% over the most recent four years and has demonstrated strong
cash flow resiliency during adverse environments with minor
deviation from the four-year historical range. Fitch believes the
sale of the Mobility segment, increased sales of advanced
technologies, opportunities to engage clients in complex design and
engineering work, accelerated demand growth in attractive end
markets such as A&D and automotive, longer product runs and lower
upfront capital investment, may drive improved FCF margins over the
long term.

Fragmented Industry: The PCB industry contains nearly 2,600
manufacturers, with the top five, including TTM, accounting for
4%-5% market share each. Fitch believes the high fragmentation
results in ongoing pricing pressure, limited margin expansion
opportunity and revenue volatility. TTM has improved its
competitive positioning through development of advanced
technologies and with the acquisition of Anaren, which provides
competitive advantages in A&D markets, as well as with its
large-scale, global manufacturing footprint capable of fulfilling
the high-volume needs of large OEMs.

Weak Position in Value Chain: TTM often experiences low revenue
visibility given its status as subcontractor, limited backlog of
approximately 90 days, lack of volume commitments in contracts and
short lead times for purchase orders that are typically subject to
cancellation without penalty. Fitch believes the company's position
reduces forecasting ability and contributes to revenue and EBITDA
margin volatility.

DERIVATION SUMMARY

TTM continues to pursue the strategic goal of reducing operating
volatility through increased exposure to markets with favorable
characteristics. Following the Anaren acquisition in 2018, which
increased exposure to A&D markets, during 2020 TTM completed the
sale of its Mobility business unit a Chinese consortium,
AKMMeadville Electronics (Xiamen) Co., Ltd., for $550 million plus
the collection of certain outstanding accounts receivable. The
transaction eliminated remaining exposure to consumer electronics
markets, which have frequently experienced acute swings in
production volumes due to short lead times, high customer
concentration and elevated seasonality, while also presenting
minimal further growth opportunity due to handset saturation. In
addition, TTM discontinued operations at its the low margin and
underscaled EMS business.

TTM's increasing focus on attractive markets, such as A&D,
automotive, medical/industrial and wireless infrastructure enable
the company to benefit from the secular tailwinds driving these
markets including, increased defense spending and strategic focus
on radar and other advanced technology, rising electronic content
in autos, 5G buildout, development of medical instrumentation and
internet of things. Increased exposure to these end markets
provides stronger long-term growth prospects, reduced economic
sensitivity, improved predictability, deeper customer engineering
engagement and longer product cycles.

Fitch views the impacts of the sale and exit from the handset
market positively, as it eliminates many of the adverse dynamics
and risks TTM experienced in recent years, while increasing focus
on stronger end markets and allowing the company to move up the
value chain with more highly engineered products, resulting in a
healthier operating profile.

TTM is well positioned comparably among industry competitors given
its top-five position in the PCB industry, global manufacturing
scale, end-market diversification, focus on leading advanced
technology PCBs, deep engineering engagement with customers and
sole position as a U.S.-domiciled PCB manufacturer with the
necessary capabilities to serve sensitive product areas in A&D and
other technology markets. TTM has experienced similar operating
volatility compared with credit peers Jabil Inc. (BBB-/Stable) and
Flex Ltd. (BBB-/Stable) but has generated favorable FCF margins in
the mid to high single digits with few periods of cash burn
throughout cycles.

TTM has also demonstrated greater willingness to absorb higher
leverage for M&A transactions that fulfil strategic priorities,
such as the Anaren acquisition, that along with deterioration in
end markets at the time contributed to leverage elevated above
Fitch and management targets for an extended period. However, the
collection of proceeds from the disposition and subsequent
repayments of $400 million on the term loan and $250 million on the
convertible notes reduced gross leverage back to within Fitch's
3.5x negative sensitivity threshold.

The ratings reflect the company's improved end-market mix, reduced
customer concentration, gradual progress up the value chain,
demonstrated commitment to prepaying debt to achieve leverage
targets, reliable FCF and expectation for reduced operating
volatility. No Country Ceiling or operating environment aspects
affect the rating. Fitch applied its parent/subsidiary criteria and
determined the IDRs of the parent and subsidiaries should be
equalized due to strong legal, operational and strategic ties.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for the issuer
include:

-- Revenue: growth of 5% in 2021 due to partial recovery in
    automotive production volumes and strong demand from data
    center and semiconductor packaging and test markets, partially
    offset by pressures in commercial aerospace end-markets and
    weak 5G infrastructure spend in China; growth of 4% per annum
    thereafter due to strength in strategic Defense platforms,
    increasing electronic content in Automotive end-markets, 5G
    infrastructure buildout and continued Data center expansion;

-- EBITDA margin of 12% in 2021 due to inflationary pressures
    from input costs and labor shortages, returning to 14% in FY22
    and expanding of 50 bps per annum thereafter due to increased
    engineering engagement with customers, growth in advanced
    technology sales, increased mix from higher-margin Anaren
    revenues and operating leverage;

-- Capex: capital intensity of 4%-5%, consistent management's
    target;

-- Shareholder returns: gradual fulfilment of $100m stock
    repurchases program followed by $50 million of repurchases per
    annum;

-- Debt: refinancing or extension of 2024 maturities.

RATING SENSITIVITIES

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

-- Expectation for total debt with equity credit/operating EBITDA
    to be sustained below 3.0x;

-- Expectation for gross debt/FCF to be sustained below 6.0x;

-- Improved diversification and increased exposure to more stable
    end markets results in reduced cyclicality and improved
    visibility.

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

-- Expectation for total debt with equity credit/operating EBITDA
    to be sustained above 3.5x due to a change in financial
    policies and/or deterioration of growth and margin expansion
    opportunities;

-- Expectation for gross debt/FCF to be sustained above 7.0x.

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

Robust Liquidity Position: The company's liquidity position has
grown substantially, consisting of over $558 million of readily
available cash and available borrowing capacity under the U.S. ABL
and the Asia ABL facilities of $138 million and $116 million,
respectively, pro forma for the transaction. Strong FCF during 2019
- 2020 and continuing into FY21, along with the sale of the
Mobility unit, has led to significant growth in cash from $256
million at YE fiscal 2018.

Liquidity is further supported by TTM's reliably consistent FCF
that Fitch forecasts will total nearly $300 million over the
ratings horizon. In addition, the recent repayments of the $375
million senior unsecured notes due 2025, improves the company's
maturity schedule with the outstanding term loan due in 2024 and
the new notes due in 2029.

Total committed and outstanding debt, pro forma for the
transaction, consists of:

-- $150 million U.S. ABL facility due 2024, undrawn;

-- $30 million outstanding on the $150 million Asian ABL facility
    due 2024;

-- $406 million outstanding principal on the senior secured term
    loan due 2024;

-- $500 million outstanding principal on the senior unsecured
    notes due 2029.

ISSUER PROFILE

TTM is a global manufacturer of printed circuit boards (PCBs) and
of high-frequency radio frequency (RF) and microwave components.
PCBs, which are ubiquitous in all electronic products, are
laminated panels, or boards, that contain the electrical circuitry
that provides connections between the components.

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.


U.S. TOBACCO: Opposes Bid to Appoint Unsecured Creditors' Panel
---------------------------------------------------------------
U.S. Tobacco Cooperative Inc. asked the U.S. Bankruptcy Court for
the Eastern District of North Carolina to deny the motion filed by
Xcaliber International Ltd. LLC and two other claimants to appoint
an official committee that will represent unsecured creditors in
its Chapter 11 case.

Attorney for U.S. Tobacco Cooperative, Rebecca Redwine, Esq., at
Hendren, Redwine & Malone, PLLC, said the claimants are not holders
of general unsecured claims.

Ms. Redwine argued Xcaliber and another claimant,
Schweitzer-Mauduit International, Inc., hold only administrative
expenses under Section 503(b)(9) of the Bankruptcy Code, which must
be paid in full under a plan of reorganization and both enjoy a
priority in payment over general unsecured claims.

"Xcaliber, in fact, likely holds a post-petition claim but in any
event its claim enjoys a priority over general unsecured claims,"
the attorney said in court papers.  

Meanwhile, the third claimant, Tobacco Rag Processors, is party to
an executory contract, which the cooperative intends to assume
under its plan of reorganization. As such, Tobacco Rag Processors
won't hold a general unsecured claim or any claim against the
cooperative, according to the attorney.

Ms. Redwine said the cooperative will be filing a plan of
reorganization that will provide for the payment in full of all
administrative expenses and the assumption of its contract with
Tobacco Rag Processors.

"As such, the rights of the willing creditors will not be impaired
under the plan and they will not be able to vote on the plan," the
attorney further said.

Marjorie Lynch, the Bankruptcy Administrator for the Eastern
District of North Carolina, said "there is still insufficient
interest from general unsecured creditors in serving on a committee
of unsecured creditors" and, therefore, a committee should not be
formed in U.S. Tobacco's bankruptcy case.

                  About U.S. Tobacco Cooperative

U.S. Tobacco Cooperative produces U.S. flue-cured tobacco grown by
more than 500 member growers in Florida, Georgia, South Carolina,
North Carolina, and Virginia.  Member-grown tobacco is processed
and sold as raw materials to cigarette manufacturers worldwide.

U.S. Tobacco Cooperative and affiliates sought Chapter 11
protection (Bankr. E.D.N.C. Lead Case No. 21-01511) on July 7,
2021. In the petition signed by Keith H. Merrick, chief financial
officer, U.S. Tobacco Cooperative estimated assets of between $100
million and $500 million and estimated liabilities of between $100
million and $500 million.

Judge Joseph N. Callaway oversees the cases.

The Debtors tapped Hendren, Redwine & Malone, PLLC as bankruptcy
counsel, and McGuireWoods, LLP and Robinson, Bradshaw & Hinson,
P.A. as special counsel.  BDO Consulting Group, LLC, SSG Advisors,
LLC and CliftonLarsonAllen serve as the Debtors' financial advisor,
investment banker and accountant, respectively.


VBI VACCINES: To Join H.C. Wainwright HBV Conference on Oct. 13
---------------------------------------------------------------
Members of VBI Vaccines Inc.'s management team will participate in
analyst-led fireside chats at the H.C. Wainwright 2nd Annual
Hepatitis B Virus (HBV) Conference on Oct. 13, 2021, Wednesday, at
4:00 to 4:30 PM ET.  Patrick Trucchio, managing director and senior
healthcare analyst, will lead the discussion.  

Live webcast of the presentation will be available at:
https://journey.ct.events/view/d56d15f1-17d9-4732-a7a5-b6e1a36f99c0/.
It will also be available on the Investors page of VBI's website
at:
https://www.vbivaccines.com/investors/events-and-presentations/.  A
replay of the webcast will be archived on the company's website
following the presentation.

                      About VBI Vaccines Inc.

Cambridge, Massachusetts-based VBI Vaccines Inc. --
http://www.vbivaccines.com-- is a biopharmaceutical company driven
by immunology in the pursuit of powerful prevention and treatment
of disease.  Through its innovative approach to virus-like
particles, including a proprietary enveloped VLP platform
technology, VBI develops vaccine candidates that mimic the natural
presentation of viruses, designed to elicit the innate power of the
human immune system.  VBI is committed to targeting and overcoming
significant infectious diseases, including hepatitis B,
coronaviruses, and cytomegalovirus (CMV), as well as aggressive
cancers including glioblastoma (GBM). VBI is headquartered in
Cambridge, Massachusetts, with research operations in Ottawa,
Canada, and a research and manufacturing site in Rehovot, Israel.

VBI Vaccines reported a net loss of $46.23 million for the year
ended Dec. 31, 2020, compared to a net loss of $54.81 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$224.63 million in total assets, $26.07 million in total current
liabilities, $30.48 million in total non-current liabilities, and
$168.08 million in total stockholders' equity.


VERITAS FARMS: Sells 2 Million Convertible Preferred Shares
-----------------------------------------------------------
Veritas Farms, Inc. completed a private offering which commenced on
Aug. 5, 2021 of Series A convertible preferred stock of the company
to certain investors, pursuant to which the company sold an
aggregate of 2,000,000 preferred shares at a purchase price of
$1.00 per share in exchange for (i) the payment of $1,860,000
(including $1,644,068.49 principal plus accrued but unpaid interest
in bridge financing provided by certain investors during July and
August 2021 upon the conversion of the investors' promissory notes,
and conversion of an account payable); and (ii) the surrender of
280,000 units, each unit consisting of two shares of common stock
and one warrant to purchase an additional share of common stock in
accordance with the terms of the subscription agreements for the
purchase of the units entered into by certain investors and the
company in February through April 2021.  

Veritas Farms intends to use the proceeds from the private
placement for general working capital purposes.  The investors in
the private placement included: Stephen E. Johnson, chief executive
officer of the company, upon the conversion of $50,000 promissory
note; Ramon A. Pino, chief financial officer of the company, upon
the conversion of $25,000 promissory note; Thomas E. Vickers,
chairman of the board of directors of the company, upon conversion
of $50,000 promissory note and account payable; Kuno van der Post,
a member of the board of directors of the company, in the amount of
$50,000, and; the Cornelis F. Wit Revocable Living Trust, a
principal shareholder who holds securities of the company that
constitute a majority of the voting securities of the company, in
the amount of $65,931.51 and upon conversion of $1,500,000
promissory notes.  As a result of the private placement and the
voting rights accorded the preferred shares, the Wit Trust now
holds approximately 87% of the voting power of the company.

The preferred shares issued to the investors were offered and sold
in a transaction exempt from registration under the Securities Act
of 1933, as amended, in reliance on Section 4(a)(2) thereof and
Rule 506(b) of Regulation D thereunder.

                           About Veritas

Fort Lauderdale, Florida-based Veritas Farms, Inc. --
www.TheVeritasFarms.com -- is a vertically-integrated agribusiness
focused on producing, marketing, and distributing superior quality,
whole plant, full spectrum hemp oils and extracts containing
naturally occurring hytocannabinoids.  Veritas Farms owns and
operates a 140 acre farm in Pueblo, Colorado, capable of producing
over 200,000 proprietary full spectrum hemp plants containing
naturally occurring phytocannabinoids which can potentially yield a
minimum annual harvest of 250,000 to 300,000 pounds of
outdoor-grown industrial hemp.

Veritas Farms reported a net loss of $7.59 million for the year
ended Dec. 31, 2020, compared to a net loss of $11.15 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$11.67 million in total assets, $3.96 million in total liabilities,
and $7.71 million in total shareholders' equity.

Hackensack, New Jersey-based Prager Metis CPA's LLC, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated April 15, 2021, citing that the Company has sustained
substantial losses from operations since its inception.  As of and
for the year ended Dec. 31, 2020, the Company had an accumulated
deficit of $26,667,147, and a net loss of $7,592,539.  These
factors, among others, raise substantial doubt about the ability of
the Company to continue as a going concern.


VIZIB TECHNOLOGIES: 3:10 & KBST's Plans to Pay Unsecureds in Full
-----------------------------------------------------------------
3:10 Capital WPF VII LLC and related parties (collectively "3:10
Capital") and KBST Investments, LLC ("KBST") (collectively referred
to as the "Plan Proponents") submitted a Disclosure Statement and
Plans of Reorganization for Debtor Viziv Technologies, LLC dated
October 4, 2021.

Viziv Technologies, LLC is a Texas limited liability company formed
on August 29, 2013, under the name of Texzon Technologies, LLC. The
Viziv name and the Viziv brand were introduced on April 20, 2018.
Viziv was founded by four individuals: James "Jim" Corum, Kenneth
Corum, David Griffith, and Basil Pinzone (collectively, the
"Founders").

Viziv had raised about $80 million of capital from Class A-3
unitholders. These funds were largely depleted by the end of 2018
due to the significant effort made to build the GDP tower and
conduct a surface wave test. A majority of the members of the Board
of Managers passed a resolution on October 5, 2020, appointing
Farrill as Chief Restructuring Officer, authorizing him, if
necessary, to initiate a bankruptcy proceeding, and to take certain
actions in the bankruptcy case if one was filed.

The Plans that have been proposed by the Plan Proponents provide
that many creditor claims (such as employee claims and trade
claims) will be paid in full. If your claim is paid in full, you
will not be eligible to vote because your claim is not impaired.

There are some matters that the two Plans have in common:

     * Both of the Plans provide that all administrative and
priority claims will be paid in full.

     * Both of the Plans provide that all allowed unsecured claims
of employees and trade creditors will be paid in full.

     * Both of the Plans provide for some ability of the current
unitholders to retain an interest in the reorganized or successor
company.

     * Both of the Plans contemplate a continuation of the business
that Viziv is conducting.

The differences in the Plans are in the treatment of the claims and
interest of the Founders, the treatment of the unitholders, and the
manner in which each Plan is implemented.  

The following claims are disputed by the Debtor:

   * Texzon Utilities, Ltd., an entity controlled by Steve Wilson.
Texzon and Wilson have filed proofs of claim that assert, among
other things, that Viziv's adoption of the current operating
agreement (the Sixth Amended and Restated Operating Agreement, or
"OA-6") and the preceding company agreement (the Fifth Amended and
Restated Operating Agreement, or "OA-5") were not validly adopted
by Viziv. Texzon also makes claims for reimbursement in the amount
of $5,500, and both Wilson and Texzon assert potential indemnity
obligations of Viziv. Texzon and Wilson had previously asserted
claims relating to a terminated agreement between Viziv and Texzon,
but these claims have not been asserted in this Bankruptcy Case.
Viziv believes that OA-6 was validly adopted and is the operating
agreement that governs Viziv's business.

   * Founders Claims.

     -- David Griffith and The Indian Shore Trust have filed proofs
of claim in the amount of $13,169,279.40 and $13,156,246.22,
respectively. These claims are based upon assertions that (a) OA-6
was not validly adopted; (b) that they are entitled to claims of
$11,500,000 because of a liquidation preference stated in OA-5, (c)
claims for tax obligations they have incurred in the amount of
$1,635,786.21, and (d) claims for indemnity. Additionally, Griffith
also asserts a claim for reimbursement in the amount of $20,460 and
compensation for salary deferment in the amount of $8,033.16. KBST
has filed an objection to the claims of Griffith and The Indian
Shore Trust. The claims for reimbursement and for salary deferment
are not disputed by Viziv.

     -- Basil Pinzone and The Pinzone Family Irrevocable Trust have
filed proofs of claim in the amount of $15,489,531.40 and
$15,485,590.85, respectively. These claims are based upon
assertions that (a) OA-6 was not validly adopted; (b) that they are
entitled to claims of $13,000,000 because of a liquidation
preference stated in OA-5, (c) claims for tax obligations they have
incurred in the amount of $2,485,590.86, and (d) claims for
indemnity. Additionally, Pinzone also asserts a claim for
compensation for salary deferment in the amount of $3,940.55. KBST
has filed an objection to the claims of Pinzone and the Pinzone
Family Irrevocable Trust. The claim for salary deferment is not
disputed by Viziv.

     -- James Corum and Kenneth Corum. The other two Founders,
James Corum and Kenneth Corum, have not filed proofs of claim.

The claims are referred to collectively in this Disclosure
Statement as the "Founders Claims".

   * Syntony, LLC. Viziv received a claim from Syntony, LLC of
Trumansburg, New York, owned by Jim and Judy Hardesty asserting a
claim for $50,325.17. Viziv understands that this claim arises from
the relationship between Hardesty and Jim Corum, who apparently
asked Syntony to pack and move Jim Corum's museum of
electromagnetic history technology to Texas. No request was made by
Viziv for this service and it does not involve Company property.
Viziv disputes the claim in full.

Viziv entered the Bankruptcy Case with very little available cash,
no source of income to support operations, and had temporarily
furloughed much of its staff. Viziv could not survive in Chapter 11
case without obtaining additional financing as the "debtor-in
possession" or "DIP". Viziv has filed several motions to obtain
post-petition financing in order to continue operations during the
Bankruptcy Case. The current DIP lender is 3:10 Capital WPF VII,
LLC, one of the Plan Proponents. The Court entered an Order on
April 8, 2021, approving the DIP loan from 3:10 Capital WPF VII,
LLC in the amount of $4 million. On June 25, 2021, Viziv filed a
motion to increase and extend the 3:10 DIP Loan. This renewal and
extension modified the 3:10 DIP Loan by, among other terms, (a)
increasing the 3:10 DIP Loan amount to $5 million, (b) reducing the
interest rate on the 3:10 DIP loan to zero, and (c) releasing the
liens on Viziv's property that had previously secured the 3:10 DIP
Loan.

The Court entered an order on July 12, 2021 approving these terms
of the DIP Loan. On September 24, 2021, the Debtor sought and
obtained another extension and renewal of the 3:10 DIP Loan, that
provides for an additional $1 million for continued operations of
the Debtor through the budget period ending December 31, 2021.
Under this extension of the 3:10 DIP Loan, the amount of the 3:10
DIP loan is now $6 million plus $ 216,211.11 of unpaid interest
that had accrued prior to the modification of the 3:10 DIP Loan.

Each of the Plans proposes the issuance of securities to existing
holders of claims and/or interests in Viziv.

A full-text copy of 3:10 Capital and KBST's Disclosure Statement
dated October 4, 2021, is available at https://bit.ly/3iFypDr from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Charles B. Hendricks
     Texas Bar No. 09451050
     Christopher J. Volkmer
     State Bar No. 20607800
     CAVAZOS HENDRICKS POIROT, P.C
     Suite 570, Founders Square
     900 Jackson Street
     Dallas, TX 75202
     Phone: (214) 573-7322
     Fax: (214) 573-7399
     Email: chuckh@chfirm.com
     Email: cvolkmer@chfirm.com

                     About Viziv Technologies

Viziv Technologies, LLC is an electronics company in Italy, Texas,
which specializes in the field of electromagnetic surface waves.

On Oct. 7, 2020, creditors Surface Energy Partners LP, Kendol C.
Everroad and Jamison Partners, LP, filed an involuntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Tex. Case No. 20-32554) against Viziv Technologies. The creditors
are represented by Kenneth Stohner Jr., Esq., at Jackson Walker,
LLP.

Judge Stacey G. Jernigan, who oversees the case, entered an order
for relief on Oct. 12.

Cavazos Hendricks Poirot, PC, is the Debtor's bankruptcy counsel.
The Debtor tapped Allred & Wilcox, PLLC, The Beckham Group and King
& Fisher Law Group, PLLC as special counsel; Stout Risius Ross, LLC
as investment banker; RSM US LLP as auditor; and Johnson McNamara,
LLC as accountant.


WALKER & DUNLOP: S&P Affirms 'BB' ICR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings affirmed its issuer credit rating on Walker &
Dunlop Inc. at 'BB'. The outlook remains stable.

S&P said, "At the same time, we assigned a 'BBB-' rating to Walker
& Dunlop's proposed $600 million senior secured term loan and a
recovery rating of '1', which indicates our expectation of very
high recovery (95%) of principal in the event of payment default.

"The affirmation is based on our expectation that Walker & Dunlop
will be able to reduce leverage to below 2.0x within the next year
while lowering debt to tangible equity below 1.0x. The company will
use proceeds from the $600 million term loan B, along with $90
million of new common equity and cash on hand, to fund the
acquisition of Alliant and to redeem its existing $300 million
notional term loan B due 2025. In addition, Walker & Dunlop will
assume approximately $155 million of securitized debt from Alliant
and accrue $100 million in earnout liabilities associated with the
acquisition.

"As a result of the added debt, we expect pro forma leverage,
measured as net debt to adjusted EBITDA, to increase to 2.3x,
including full-year expected 2021 EBITDA for Alliant, compared with
1.5x for year-end 2020. We also expect debt to tangible equity to
be above 1.0x for year-end 2021 because of the goodwill from the
transaction and the added debt. We expect leverage to decrease
below 2.0x by year-end 2022, driven by growth in legacy Walker &
Dunlop EBITDA and expected amortization for both the company's
assumed securitized debt and earnout."

The Alliant acquisition and term loan refinancing will close during
the fourth quarter. Alliant will contribute to the company's
affordable housing capabilities, including Low-Income Housing Tax
Credit (LIHTC) syndication. LIHTC syndication will allow Walker &
Dunlop to raise equity capital from banks, life insurance
companies, and other investors seeking to invest in tax credits.
The fees received for this are earned over a 10-15 year tax credit
period, creating long, predictable streams of revenue.

S&P said, "Risks to our forecast include integration risks from the
acquisition resulting in higher-than-expected expenses for 2022,
lower-than-expected transaction volume, or compression in gain on
sale margins, all of which would result in lower-than-expected
EBITDA. We do not reverse the impact from provisions in our
calculation of EBITDA, and we include outstanding amounts in the
companies' interim warehouse facilities (which have a total funding
capacity of over $400 million) in our measure of debt."

S&P base-case forecast assumes:

-- S&P's pro forma measure of $1.1 billion of gross leverage
includes the new $600 million term loan, $155 securitized debt,
$100 deferred earnouts, $150 million in interim loan warehouse
debt, and $117 in operating lease liabilities and other
adjustments;

-- S&P's $800 million to $900 million of net debt assumes surplus
cash of $250 million to $300 million;

-- Excluding further acquisitions, S&P expects double-digit
revenue growth for 2022 and 2023; and

-- S&P expects the company to generate $350 million to $400
million of EBITDA in 2022, including the impact from Alliant.

S&P said, "The stable outlook indicates our expectation that, over
the next 12 months, Walker & Dunlop will reduce net debt to
adjusted EBITDA below 2.0x and debt to tangible equity below 1.0x.
The outlook also considers the company's competitive position as a
primary originator and servicer of multifamily loans.

"We could lower the ratings over the next 12 months if the
company's leverage, measured as net debt to EBITDA, remains above
2.0x or if debt to tangible equity exceeds 1.25x with no credible
plan for reduction. We could also lower the ratings if there is
integration risk relating to Alliant such that its earnings
deteriorate, or if outsize losses materialize under the Fannie Mae
Delegated Underwriting and Servicing (DUS) risk-sharing program.

"An upgrade is unlikely over the next 12 months. Over time, we
could raise the ratings if Walker & Dunlop's exposure to the Fannie
Mae DUS risk-sharing program declines."



WEBER-STEPHEN PRODUCTS: S&P Raises ICR to BB-, Off CreditWatch Pos.
-------------------------------------------------------------------
S&P Global Ratings removed all ratings on Weber-Stephen Products
LLC from CreditWatch where it placed them with positive
implications on July 13, 2021, and raising its ratings, including
the issuer credit ratings to 'BB-' from 'B' with a stable outlook.


At the same time S&P is assigning a 'BB-' issuer credit rating on
Weber Inc. with a stable outlook.

S&P said, "We also are raising the issue-level rating on
Weber-Stephen Products LLC's senior secure first-lien term loan to
'BB' from 'B' with a revised recovery rating of '2' indicting our
expectations of substantial recovery in the event of a payment
default, including an estimated recovery of 75% reflecting a
reduction in senior secured term debt.

"The outlook is stable reflecting our expectation for continued
EBITDA growth given the favorable growth outlook for grilling
products that should lead to leverage below 4x over the next
year."

The upgrade reflects an improved financial risk profile following
the IPO, but Weber continues to be a financial sponsor-controlled
company. S&P said, "We estimate the debt repayment from IPO
proceeds totaling about $220 million results in pro forma debt to
EBITDA of 4x well below the company's pro forma leverage ratio of
5.5x following its acquisition last year by BDT Capital Partners
LLC (not rated). In addition, we forecast a low 2%-4% sales growth
after a pandemic-driven growth rate of more than 20% expected for
2021 and for EBITDA margins to approach 15%, which should lead to
debt to EBITDA sustained below 4x over the next year. Although
leverage sustained well-below 4x could support a higher rating, we
factor into our financial risk profile assessment the continued
control of the company by its majority owners, BDT Capital Partners
LLC, which controls more than 50% of the company's common stock.
This could mean the company may adopt a more aggressive financial
policy than is currently reflected into our base case projections
and lead to debt to EBITDA over 4x either because of possible
future acquisitions or, less likely, because of material
debt-financed one-time shareholder returns."

The company's operating outlook remains favorable, underpinned by
favorable industry fundamentals. S&P said, "In addition to a
strengthening U.S. economic recovery, we believe Weber will
continue to benefit from favorable long-term demand for new grills
and associated grilling equipment. Underpinning this outlook is the
increased demand for home-based outdoor entertainment and a growing
population of first-time grill buyers given the recent strength in
the housing market and associated new home purchases. Based on
these industry fundamentals, we believe industrywide sales growth
will normalize in the 3%-5% area annually, after a significant
higher growth rate over the past 12 months (more than 20% year over
year for Weber) that benefitted from increased at-home
entertainment demand as well as the increase in new home purchase
growth during the pandemic. We believe Weber can leverage its
market share leadership, brand strength, and innovation pipeline to
gain market share and grow at higher-than-industry average rate of
4%-6%, albeit after a lower growth rates in the 2%-4% range next
year because of a difficult year-over-year comparison with last
year's record growth rate."

The company remains the industry leader in grills with a global
presence. Weber has a leading market position and strong brand
recognition in the global outdoor grilling and barbecue industry
and in the smaller grilling fuel, accessories, and consumables
category. The total addressable market for this industry is $9
billion based on the company's filings. Moreover, it has grilling
products across all price ranges, unlike its peers, which are much
smaller and have a narrow product focus. With a diverse product
portfolio backed by strong brand awareness, Weber is able to cater
to a wide range of consumer essentials, resulting in greater
household penetration and a higher installed base. Weber is the
only competitor within the barbecue industry with extensive global
presence and a distribution footprint across 78 countries, which
provides entry into high-growth developing markets (in contrast a
to very mature U.S. market).

The company has also increased its innovation spending and filled a
gap in its portfolio with a late entry into the fast-growing wood
pellet grill market in the U.S. Product innovation is a key driver
of long-term growth and Weber has increased its focus on new
innovations. Still, Weber has a narrow product focus as a niche
manufacturer of barbecue grills and related accessories, which is
more discretionary and susceptible to change in consumer
preferences. The company has a fair degree of customer
concentration. Its top 10 customers account for about 50% of its
estimated fiscal 2020 revenues and its largest customer represents
approximately 15% of sales globally. The loss of any of these
customers could have a material impact on the company's operations
and profitability. Weber is also exposed to raw material cost
volatility due to its exposure to commodity inputs (mainly cold
rolled steel and aluminum). Weber may also face foreign exchange
(FX) volatility as related to currency translation as its products
are sold in various countries and regions including Australia,
Canada, and Western Europe.

Annual discretionary cash flow (DCF) growth should provide
additional liquidity for future growth investments, including
possible opportunistic mergers and acquisitions (M&A). Year to
date, the company has generated about $35 million in DCF after
capital expenditures (capex) of $40 million. The majority of this
year's capex-funded growth initiatives, included a facility
expansion in Poland and SAP implementation. Although the company
will likely target a dividend payout, discretionary cash flows
should increase given the company's growth outlook, fewer one-time
transaction and restructuring charges, and less growth capex. Based
on these assumptions, DCF should exceed $100 million, which should
provide the company with added cushion to pursue opportunistic
bolt-on M&A, while sustaining debt to EBITDA below 4x.

The stable outlook reflects S&P's expectation for continued strong
sales growth and better EBITDA margins as one-time costs do not
repeat and the company leverages its existing manufacturing
footprint with higher production volumes. This should allow the
company to continue to generate 2%-4% sales growth, 14%-15% EBITDA
margin, and sustain leverage below 4x over the next year.

An upgrade would be predicated on operating performance continuing
to meet expectations, ongoing deleveraging, and the company
adopting a more conservative financial policy.

Specifically, S&P could raise the ratings one notch if:

-- The company reduces and commits to sustaining leverage well
below 4x; and

-- It becomes apparent that its financial sponsor owner will
relinquish control over time as their ownership share declines and
public ownership steadily increases.

S&P could lower the ratings if the company's operating performance
significantly underperforms expectations and it substantially
increases leverage either for a large acquisition or to fund
shareholder returns. Specifically, S&P would downgrade the company
if debt to EBITDA were sustained above 5x.

This could occur if:

-- The company generates negligible sales growth and faces a more
than 200 basis point decrease in EBITDA margin due to supply chain
disruptions and input cost inflation that the company cannot offset
through price increases; or

-- The company makes a large debt-financed acquisitions or
one-time dividend payment



YAK ACCESS: Lenders Hire Evercore to Help Liquidity Pressures
-------------------------------------------------------------
Rachel Butt of Bloomberg Law reports that a group of first-lien
lenders to Yak Access are working with investment bank Evercore to
help navigate the mat supplier's weak earnings and liquidity
pressures, according to people with knowledge of the situation.

The ad hoc group has been getting legal advice from Akin Gump
Strauss Hauer & Feld, as reported by Bloomberg. A representative
for Evercore declined to comment.

The lenders' mobilization came after Yak reported double-digit
declines in its profit and revenue for the second quarter. The
Platinum Equity-backed company, which mainly serves midstream
pipeline and utility clients, suffered from delays and loss of
projects.

                         About Yak Access LLC

Yak Access, LLC, headquartered in East Columbia, Mississippi, is a
specialty equipment leasing and logistics company focused on
temporary access solutions to remote construction sites mostly
serving energy infrastructure repair and development work in North
America. The company generated revenues of $483 million during the
twelve months ended March 31, 2020. Platinum Equity owns 50.1% of
Yak Access, LLC and the Jones Companies and Beasley Forest Products
jointly own the other 49.9%.


[*] DOJ's Bankruptcy Fee Rise Ruled Invalid, Adding Circuit Split
-----------------------------------------------------------------
Daniel Gill, writing for Bloomberg Law, reports that the Department
of Justice's bankruptcy fee increased ruled invalid, adding to
circuit split.

A temporary geographical disparity in how much Chapter 11 debtors
had to pay in quarterly bankruptcy oversight fees was
unconstitutional, the Tenth Circuit held.

A fee hike for the 48 states monitored by the Justice Department's
U.S. Trustee Program -- from $30,000 to a maximum $250,000 --
didn't match the fees required of debtors in Alabama and North
Carolina for the first three quarters of 2018.  Those two states
are governed by bankruptcy administrators appointed by the U.S.
Judicial Conference.

That difference in fees violated the Constitution's Bankruptcy
Clause, which requires that federal bankruptcy rules be uniform, a
2-1 panel of the U.S. Court.


[*] New Hampshire Sept. 2021 Bankruptcy Filings Hit 33-Year Low
---------------------------------------------------------------
Bob Sanders of NH Business Review reports that a new modern low
number of bankruptcy filings were filed in September 2021 in New
Hampshire, with fewer than 50 recorded.

Forty-eight individuals and businesses filed for protection in
September.  The last time that number of monthly filings was
reached was in January 1988, although in 2005 -- two months after
bankruptcy law was changed making it difficult for people to seek
bankruptcy protection.

The previous modern record was set this past June 2021, when there
were 51 filings. Before that there were 54 in January.

September 2021 filings totaled 15 fewer then August and 23 fewer
than the number filed in September 2020

For historical perspective, in September 2010 there were 481
bankruptcy filings in the state -- 10 times the number filed this
September.

Most experts chalk up the continued drop in filings -- they have
been staying at low levels since the pandemic began in March 2020
-- to the massive amount of federal money and protections
established. While the state stopped paying out extra federal
unemployment benefits in June, other federal aid has been and is
arriving though the American Rescue Plan Act, and there is the hope
of Congress passing more legislation.

The number of filings by Granite State businesses is also down.
Three personal bankruptcies contained business-related debt, the
compared to four in August.  One business filed directly, compared
to two in August.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re James Andrew Joseffy
   Bankr. S.D. Fla. Case No. 21-19419
      Chapter 11 Petition filed September 29, 2021
        represented by: Chad Van Horn, Esq.

In re Express Processing, LLC
   Bankr. N.D. Miss. Case No. 21-11835
      Chapter 11 Petition filed September 29, 2021
         See
https://www.pacermonitor.com/view/EFKJSOA/Express_Processing_LLC__msnbke-21-11835__0001.0.pdf?mcid=tGE4TAMA
         represented by: Craig M. Geno, Esq.
                         LAW OFFICES OF CRAIG M. GENO, PLLC

In re Express Biodiesel, LLC
   Bankr. N.D. Miss. Case No. 21-11834
      Chapter 11 Petition filed September 29, 2021
         See
https://www.pacermonitor.com/view/H5L33WY/Express_Biodiesel_LLC__msnbke-21-11834__0001.0.pdf?mcid=tGE4TAMA
         represented by: Craig M. Geno, Esq.
                         LAW OFFICES OF CRAIG M. GENO, PLLC

In re John Coleman
   Bankr. N.D. Miss. Case No. 21-11833
      Chapter 11 Petition filed September 29, 2021
         represented by: Craig Geno, Esq.

In re Winside Group LLC
   Bankr. E.D.N.Y. Case No. 21-71726
      Chapter 11 Petition filed September 29, 2021
         See
https://www.pacermonitor.com/view/WFG5XKI/Winside_Group_LLC__nyebke-21-71726__0001.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re A & G Pizza, Inc.
   Bankr. E.D.N.C. Case No. 21-02160
      Chapter 11 Petition filed September 29, 2021
         See
https://www.pacermonitor.com/view/BLK2C3Y/A__G_Pizza_Inc__ncebke-21-02160__0001.0.pdf?mcid=tGE4TAMA
         represented by: Travis Sasser, Esq.
                         SASSER LAW FIRM
                         E-mail: travis@sasserbankruptcy.com

In re Robert Morris English, Jr.
   Bankr. W.D. Tenn. Case No. 21-10863
      Chapter 11 Petition filed September 29, 2021
         represented by: Steven Douglass, Esq.

In re LMMS, Inc.
   Bankr. W.D. Va. Case No. 21-70664
      Chapter 11 Petition filed September 29, 2021
         See
https://www.pacermonitor.com/view/QJCC7KY/LMMS_Inc__vawbke-21-70664__0001.0.pdf?mcid=tGE4TAMA
         represented by: David Cox, Esq.
                         COX LAW GROUP, PLLC
                         E-mail: david@coxlawgroup.com

In re Martin M. Hajjar
   Bankr. N.D. Ala. Case No. 21-70874
      Chapter 11 Petition filed September 30, 2021
         represented by: C. Taylor Crockett, Esq.
                         C. TAYLOR CROCKETT, P.C.
                         E-mail: Taylor@taylorcrockett.com

In re John Joseph Piazza, Jr.
   Bankr. M.D. Fla. Case No. 21-05033
      Chapter 11 Petition filed September 30, 2021
         represented by: Buddy Ford, Esq.
                         BUDDY D. FORD, P.A.

In re Kyle C. Woodhead
   Bankr. S.D. Fla. Case No. 21-19516
      Chapter 11 Petition filed September 30, 2021
         represented by: David Woodward, Esq.
                           DAVID LUTHER WOODWARD, P.A.

In re Phillip B. Scott
   Bankr. C.D. Ill. Case No. 21-80693
      Chapter 11 Petition filed September 30, 2021
         represented by: Dale G. Haake, Esq.
                         KATZ NOWINSKI P.C.

In re Hardy Alloys Inc.
   Bankr. W.D. Tex. Case No. 21-51184
      Chapter 11 Petition filed September 30, 2021
         See
https://www.pacermonitor.com/view/NYO27SQ/Hardy_Alloys_Inc__txwbke-21-51184__0001.0.pdf?mcid=tGE4TAMA
         represented by: Morris E. "Trey" White III, Esq.
                         VILLA & WHITE LLP
                         E-mail: treywhite@villawhite.com

In re Brian Stephen Wilbur and Holly Wilbur
   Bankr. D. Colo. Case No. 21-15040
      Chapter 11 Petition filed October 1, 2021
         represented by: Aaron Garber, Esq.
                         WADSWORTH GARBER WARNER CONRARDY, P.C.
                         E-mail: agarber@wgwc-law.com

In re King Tyson, Inc.
   Bankr. S.D. Fla. Case No. 21-19586
      Chapter 11 Petition filed October 1, 2021
         See
https://www.pacermonitor.com/view/552OAQA/King_Tyson_Inc__flsbke-21-19586__0001.0.pdf?mcid=tGE4TAMA
         represented by: Elias Leonard. Dsouza, Esq.
                         ELIAS LEONARD DSOUZA, PA
                         E-mail: dtdlaw@aol.com

In re Martin Financial, LLC
   Bankr. M.D. Ga. Case No. 21-30495
      Chapter 11 Petition filed October 1, 2021
         See
https://www.pacermonitor.com/view/47N63XI/Martin_Financial_LLC__gambke-21-30495__0001.0.pdf?mcid=tGE4TAMA
         represented by: Charles Kelley, Esq.
                         KELLEY & CLEMENTS LLP
                         E-mail: ckelley@kelleyclements.com

In re Mejia LLC
   Bankr. D.N.H. Case No. 21-10581
      Chapter 11 Petition filed October 1, 2021
         See
https://www.pacermonitor.com/view/EEOP3PA/Mejia_LLC__nhbke-21-10581__0001.0.pdf?mcid=tGE4TAMA
         represented by: Cheryl C. Deshaies, Esq.
                         DESHAIES LAW
                         E-mail: cdeshaies@deshaieslaw.com

In re Juan E. Vega Cruz
   Bankr. D.P.R. Case No. 21-02971
      Chapter 11 Petition filed October 1, 2021
         represented by: Wigberto Lugo Mender, Esq.
                         LUGO MENDER GROUP, LLC

In re Monica Meraz
   Bankr. C.D. Cal. Case No. 21-17692
      Chapter 11 Petition filed October 2, 2021
         represented by: Onyinye Anyama, Esq.

In re Amazed Lashes, LLC
   Bankr. D.N.J. Case No. 21-17729
      Chapter 11 Petition filed October 2, 2021
         See
https://www.pacermonitor.com/view/ZNYGBWY/Amazed_Lashes_LLC__njbke-21-17729__0001.0.pdf?mcid=tGE4TAMA
         represented by: Bruce H. Levitt, Esq.
                         LEVITT & SLAFKES, P.C.

In re Donald Chae
   Bankr. C.D. Cal. Case No. 21-17696
      Chapter 11 Petition filed October 3, 2021
         represented by: Robert Marticello, Esq.

In re Serge Louis
   Bankr. E.D.N.Y. Case No. 21-42517
      Chapter 11 Petition filed October 3, 2021
         represented by: Douglas Emanuel, Esq.

In re Toni C Pearce
   Bankr. S.D. Ala. Case No. 21-11808
      Chapter 11 Petition filed October 4, 2021
         represented by: Frances Hoit Hollinger, Esq.

In re Coeptis Equity Fund Gates
   Bankr. N.D. Cal. Case No. 21-41232
      Chapter 11 Petition filed October 4, 2021
         See
https://www.pacermonitor.com/view/ELR6Y3Y/COEPTIS_EQUITY_FUND_GATES__canbke-21-41232__0003.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re American Tri Venture LLC
   Bankr. D.N.J. Case No. 21-17737
      Chapter 11 Petition filed October 4, 2021
         See
https://www.pacermonitor.com/view/GBUKW5Q/American_Tri_Venture_LLC__njbke-21-17737__0001.0.pdf?mcid=tGE4TAMA
         represented by: Andre L. Kydala, Esq.
                         LAW FIRM OF ANDRE L. KYDALA
                         E-mail: kydalalaw@aim.com

In re Ronald B. Carlson
   Bankr. W.D. Pa. Case No. 21-22172
      Chapter 11 Petition filed October 4, 2021
         represented by: Gary Short, Esq.

In re Angelos Kolombotos
   Bankr. N.D. Tex. Case No. 21-31813
      Chapter 11 Petition filed October 4, 2021
         represented by: Sue Dugan, Esq.

In re Chance Wade Britt and Alexa Lynn Britt
   Bankr. N.D. Tex. Case No. 21-50153
      Chapter 11 Petition filed October 4, 2021
         represented by: Max Tarbox, Esq.

In re Luxury Moveable Co.
   Bankr. S.D. Tex. Case No. 21-33229
      Chapter 11 Petition filed October 4, 2021
         See
https://www.pacermonitor.com/view/GV4AUHY/Luxury_Moveable_Co__txsbke-21-33229__0001.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re Sunero Group Inc.
   Bankr. S.D. Tex. Case No. 21-33236
      Chapter 11 Petition filed October 4, 2021
         See
https://www.pacermonitor.com/view/LDW3AAQ/Sunero_Group_Inc__txsbke-21-33236__0001.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re Ricardo Ruiz-Guizar
   Bankr. W.D. Tex. Case No. 21-51217
      Chapter 11 Petition filed October 4, 2021
         represented by: David Cain, Esq.

In re 10193 Flanders LLC
   Bankr. D. Minn. Case No. 21-41779
      Chapter 11 Petition filed October 5, 2021
         See
https://www.pacermonitor.com/view/CQCSAEQ/10193_FLANDERS_LLC__mnbke-21-41779__0001.0.pdf?mcid=tGE4TAMA
         represented by: John D. Lamey III, Esq.
                         LAMEY LAW FIRM, P.A.
                         E-mail: JLAMEY@LAMEYLAW.COM

In re Fieldstone Church
   Bankr. W.D.N.Y. Case No. 21-11032
      Chapter 11 Petition filed October 5, 2021
         See
https://www.pacermonitor.com/view/JHTS65Q/Fieldstone_Church__nywbke-21-11032__0001.0.pdf?mcid=tGE4TAMA
         represented by: Robert B. Gleichenhaus, Esq.
                         GLEICHENHAUS, MARCHESE & WEISHAAR, P.C.

In re Chatham Gravel Driveway & Repair, LLC
   Bankr. E.D.N.C. Case No. 21-02225
      Chapter 11 Petition filed October 5, 2021
         See
https://www.pacermonitor.com/view/6CDSZUI/Chatham_Gravel_Driveway__Repair__ncebke-21-02225__0001.0.pdf?mcid=tGE4TAMA
         represented by: Travis Sasser, Esq.
                         SASSER LAW FIRM
                         E-mail: travis@sasserbankruptcy.com

In re Kelley Hydraulics, Inc.
   Bankr. S.D. Tex. Case No. 21-33269
      Chapter 11 Petition filed October 5, 2021
         See
https://www.pacermonitor.com/view/VAFP2DA/Kelley_Hydraulics_Inc__txsbke-21-33269__0001.0.pdf?mcid=tGE4TAMA
         represented by: Jeff Carruth, Esq.
                         WEYCER, KAPLAN, PULASKI & ZUBER, P.C.
                         E-mail: jcarruth@wkpz.com


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Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2021.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

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