/raid1/www/Hosts/bankrupt/TCR_Public/211029.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, October 29, 2021, Vol. 25, No. 301

                            Headlines

58 YORK PARTNERS: Voluntary Chapter 11 Case Summary
8533 GEORGETOWN: Files Amendment to Disclosure Statement
ABC CARPET: To Stay in Business After Court Okayed Bankruptcy Sale
ACER THERAPEUTICS: Patent Issued Covering ACER-001 Formulation
ACTION HOME: Case Summary & 6 Unsecured Creditors

ALGOZINE MASONRY: Wins Continued Cash Collateral Access
AMERICAN AIRLINES: Fitch Rates $202MM Class B Certs 'BB+'
ANASTASIA PARENT: Moody's Raises CFR to Caa2, Outlook Stable
ARCH RESOURCES: S&P Alters Outlook to Stable, Affirms 'B-' ICR
ASCENTRA HOLDINGS: Chapter 15 Case Summary

AVADIM HEALTH: Court Confirms Plan Over Release Objections
AVIANCA HOLDINGS: Creditors Committee Defends Plan
AVIANCA HOLDINGS: Plan Ruling Delayed Amid New Domicile
AVIANCA HOLDINGS: Seeks Court OK of Plan to Cut Debt by $3 Billion
AXIA REALTY: Unsecureds to Get 100%; Plan Hearing Nov. 10

BASIC ENERGY: Gordon Bros. to Sell Ranger Excess Assets
CALUMET PAINT: Wins Cash Collateral Access Thru Nov 30
CALVERT CITY: Case Summary & 20 Largest Unsecured Creditors
CAMDEN DIOCESE: Hikes Abuse Fund But Still Faces Criticism
COMMUNITY HEALTH: Posts $144 Million Net Income in Third Quarter

CRESTLLOYD LLC: Files for Chapter 11 to Stop "The One" Auction
CRYPTO COMPANY: Subsidiary Forges New Relationship With Hired
CYTODYN INC: Adjourns Annual Meeting to Nov. 24 Due to Lack Quorum
DELCATH SYSTEMS: Christine Padula to Quit as Interim PAO
EASTSIDE DISTILLING: Signs Joint Promotion Deal With Frito-Lay

ECHO GLOBAL: Moody's Assigns First Time B2 Corporate Family Rating
EVERYTHING BLOCKCHAIN: Promotes Eric Jaffe to Board of Directors
GOLDEN FLEECE: Case Summary & 20 Largest Unsecured Creditors
GORHAM PAPER: Okayed to Solicit Chapter 11 Plan Votes
GPSPRO LLC: Unsecureds' Recovery Lowered to 33% in Plan

HAWAIIAN HOLDINGS: Posts $14.7 Million Net Income in Third Quarter
HERALD HOTEL: $1.8M Unsecured Claims to be Paid in Full in Plan
IFRESH INC: Finalizing Delayed Financial Statements
INTELSAT SA: Taps Egon Zehnder to Find New CEO After Chapter 11
INTERSTATE UNDERGROUND: Wins Cash Collateral Access

ISLAND EMPLOYEE: Unsecureds to Get Share of Income for 3 Years
J.C. PENNEY CO: Appoints New CEO After Bankruptcy Exit
JAHN LLC: Seeks Chapter 7 Case Dismissal
KOSMOS ENERGY: Issues $400 Million 7.750% Senior Notes Due 2027
LIVEONE INC: Incurs $15.2 Million Net Loss in Second Quarter

LUCKIN COFFEE: Reaches $175Mil. Settlement on Accounting Fraud
MAGELLAN HOME-GOODS: Unsecureds to Get $3.9K/Month for 120 Months
MARA DAY SPA: Case Summary & 14 Unsecured Creditors
MID ATLANTIC: Case Summary & 20 Largest Unsecured Creditors
MIND TECHNOLOGY: Designates 500K Shares as Series A Preferred Stock

MODELL'S SPORTING: Flushing, NY Store Sold for $67 Million
MOHEGAN GAMING: Transfers Equity Ownership in Athens Project to GEK
MY SIZE: Launches $8.5 Million Registered Direct and PIPE Offerings
NATIONAL RIFLE: Appeal Over Pandemic Closures Draws Resistance
NORCROSS LODGING: Case Summary & 20 Largest Unsecured Creditors

OASIS PETROLEUM: S&P Affirms 'B' ICR Following Divestiture of OMP
OFS INTERNATIONAL: IPSCO Agrees to Withdraw All IPSCO Claims
ONDAS HOLDINGS: Plans for New Joint HQs in Waltham, Mass.
PARKWAY GENERATION: S&P Assigns Prelim 'BB' Rating on Term Loan B
PECF USS III: Moody's Assigns B3 CFR, Outlook Stable

PETROTEQ ENERGY: Responds to Unsolicited Takeover Bid by Viston
PHI GROUP: Signs $1.5-Bil. Financing Deal With Haj Finance Group
PRINCESS PORT: Case Summary & 3 Unsecured Creditors
PROFRAC SERVICES: S&P Places 'CCC+' ICR on CreditWatch Positive
QUORUM HEALTH: CHS, Credit Suisse Face Suit Over Bankruptcy

RELEVANT HOLDINGS: Unsecureds to Get Share of Cash Flow for 5 Years
ROCKDALE MARCELLUS: $60MM Loan, Cash Collateral Use Win Final OK
SEADRILL LIMITED: Updates Unsecured Claims Details; Amends Plan
SLM CORP: Moody's Rates Unsecured Debt Ba1 & Alters Outlook to Pos.
SUAMIT LLC: Unsecureds to Get $2,965 per Month for 18 Months

TELIGENT INC: U.S. Trustee Appoints Creditors' Committee
TEVA PHARMACEUTICAL: S&P Assigns 'BB-' Rating on Unsecured Notes
U.S. TOBACCO: Court Denies Stubbs & Perdue's Bid to Form Committee
UNIVERSITY OF HAWAII: Moody's Rates $76MM 2021 Revenue Bonds 'Ba1'
US VIRGIN ISLANDS: Moody's Affirms 'Caa3' Issuer Rating

USA GYMNASTICS: Nassar Abuse Victims to Vote on Settlement Plan
VERTEX AEROSPACE: S&P Downgrades ICR to 'B' on Elevated Leverage
VERTEX ENERGY: Proposes Private Offering of $155M Senior Notes
VESTAVIA HILLS: Mount Royal Towers Sold for $12 Million
[^] BOOK REVIEW: Jacob Fugger the Rich


                            *********

58 YORK PARTNERS: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: 58 York Partners, LLC
        4411 Main Street
        Philadelphia, PA 19127

Business Description: 58 York Partners, LLC is a Single Asset Real
                      Estate debtor (as defined in 11 U.S.C.
                      Section 101(51B)).

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Case No.: 21-12907

Judge: Hon. Ashely M. Chan

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

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Eric S. Kretschman as member.

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

https://www.pacermonitor.com/view/ON7IESY/58_YORK_PARTNERS_LLC__paebke-21-12907__0001.0.pdf?mcid=tGE4TAMA


8533 GEORGETOWN: Files Amendment to Disclosure Statement
--------------------------------------------------------
8533 Georgetown Pike, LLC, submitted an Amended Disclosure
Statement describing Amended Plan of Reorganization dated October
25, 2021.

During the pendency of this proceeding, FVCbank has filed a Motion
for Relief from the Automatic Stay (the "Motion for Relief").
Incident to the Motion for Relief, the Debtor anticipates making
adequate protection payments to FCVbank in such amount as the
parties may agree or the Court may direct. The parties have reached
an agreement with respect to the Motion for Relief and are
submitting a consent order (the "Consent Order").

Although the Consent Order has not been entered as of the date of
this Disclosure Statement, the Consent Order will provide for a
period during which the Debtor must either sell the Property and
satisfy its loan obligations with FVCbank or refinance the loan
with FCVBank. In the event of a sale, the Debtor anticipates that
sufficient proceeds will be available to satisfy all allowed
claims.  

The Debtor has filed a motion to retain Washington Fine Properties
to assist the Debtor in selling the Property. This motion has been
approved. There have been no asset sales outside the ordinary
course of business, no debtor in possession financing, and no cash
collateral orders.

The Plan is a liquidating plan. Within the time frame set forth in
the Consent Order, The Debtor will sell the property to a third
party; however, if the property cannot be sold within whatever time
may be permitted in the Consent Order, then the Debtor proposes to
obtain financing to satisfy its obligations to FCVbank, and in such
event the Debtor may seek dismissal of the case.

Like in the prior iteration of the Plan, there are two proposed
Classes of General Unsecured Claims:

     * Third-Party Claims. The following creditors hold Class 4
Claims: BYND Holdings, Cross River Bank, Falcon Lab, Jim's Carpet,
Kazemi Accounting, Mahdavi Doumar Budd & Levine, Perry Charnoff,
Romulus and Remus, LLC, and That's What You Get, LLC. These claims
are unimpaired.

Raymond Rahbar, the sole member of the Debtor, shall hold a Class 6
Claim as to his Equity Interest in the Debtor.

Payments and distributions under the Plan will be funded by the
sale of the Property. Payments of adequate protection under the
Consent Order may be made by Raymond Rahbar.

Under the Plan, all creditors will be paid in full. Therefore, no
further liquidation analysis is required.

A full-text copy of the Amended Disclosure Statement dated October
25, 2021, is available at https://bit.ly/3CmnxlQ from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     John P. Forest, II, Esq.
     11350 Random Hills Rd., Suite 700
     Fairfax, VA 22030
     Telephone: (703) 691-4940
     Email: john@forestlawfirm.com

                   About 8533 Georgetown Pike

Great Falls, Va.-based 8533 Georgetown Pike, LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
E.D. Va. Case No. 21-11000) on June 1, 2021. Raymond Rahbar,
manager, signed the petition.  John P. Forest, II, Esq. serves as
the Debtor's legal counsel.


ABC CARPET: To Stay in Business After Court Okayed Bankruptcy Sale
------------------------------------------------------------------
Jeremy Hill, writing for Bloomberg News, reports that ABC Carpet &
Home, the more than a century-old New York luxury home goods
retailer, will stay in business after winning court approval to
sell itself to a group of investors.

The sale is valued at about $26 million, a lawyer for the retailer
said in a hearing Wednesday, though most of the consideration will
come in the form of debt forgiveness. The company received no other
acceptable bids.

The buyer, called 888 Capital Partners, plans to invest $20 million
into ABC and offer jobs to more than 50 of the company's existing
employees, according to court papers.

                      About ABC Carpet & Home

A.B.C. Carpet & Home, Inc., is a New York-based seller of luxury
home goods. The company traces its roots to the late 1800s, when
Austrian immigrant Samuel Weinrib started the business from a
pushcart on Manhattan's Lower East Side. His great-granddaughter
Paulette Cole helped build its red-brick building on Broadway into
a high-end destination for designers and decorators and their
affluent clients.

A.B.C. Carpet Co. Inc., along with two affiliates, sought Chapter
11 protection (Bankr. S.D.N.Y. Lead Case No. 21-11591) on Sept. 8,
2021. It listed assets of up to $50 million and as much as $100
million of liabilities in its petition.

The Debtors tapped GREENBERG TRAURIG, LLP as counsel; and B. RILEY
SECURITIES, INC., as financial advisor.  BANKRUPTCY MANAGEMENT
SOLUTIONS, INC. (STRETTO) is the claims agent.


ACER THERAPEUTICS: Patent Issued Covering ACER-001 Formulation
--------------------------------------------------------------
The U.S. Patent and Trademark Office (USPTO) has issued a new U.S.
patent to Acer Therapeutics Inc. for certain claims related to
ACER-001 (sodium phenylbutyrate).  Patent 11,154,521 covers
pharmaceutical composition claims related to ACER-001's
taste-masked, multi-particulate dosage formulation for oral
administration.  The newly issued patent has an expiration date in
2036.

"We are extremely pleased that our ACER-001 formulation patent has
been issued, adding key protection to our growing intellectual
property portfolio for ACER-001 as we continue to advance its
development to potentially treat patients with Urea Cycle Disorders
(UCDs), Maple Syrup Urine Disease (MSUD) and other possible
indications," said Jeff Davis, chief business officer at Acer.
"This patent issuance is an important step in our pursuit of
possible ACER-001 commercialization, and we intend to submit it for
listing by the U.S. Food and Drug Administration (FDA) in its
Approved Drug Products with Therapeutic Equivalence Evaluations, or
Orange Book, should ACER-001 receive marketing approval."

Jack Weinstein, chief financial officer and treasurer of Relief,
added, "In parallel to the patent application efforts in the U.S.,
Acer and Relief are pursuing similar claims in the European Patent
Office to cover ACER-001 as we continue to execute on our plan to
submit a Marketing Authorization Application for ACER-001 for the
treatment of patients with UCDs in Europe in Q2/Q3 2022."

Parties interested in the ACER-001 program for UCDs may sign up for
updates at:
https://www.acertx.com/rare-disease-research/acer-001-for-urea-cycle-disorders-ucds/

ACER-001 is an investigational product candidate which has not been
approved by FDA, the European Medicines Agency (EMA), or any other
regulatory authority. T here can be no assurance that this product
candidate will receive regulatory authority approval for marketing
in any territory or become commercially available for the
indications under investigation.

                         Acer Therapeutics

Acer Therapeutics -- http://www.acertx.com-- is a pharmaceutical
company focused on the acquisition, development and
commercialization of therapies for serious rare and
life-threatening diseases with significant unmet medical needs.
Acer's pipeline includes four clinical-stage candidates: emetine
hydrochloride for the treatment of patients with COVID-19; EDSIVO
(celiprolol) for the treatment of vascular Ehlers-Danlos syndrome
(vEDS) in patients with a confirmed type III collagen (COL3A1)
mutation; ACER-001 (a taste-masked, immediate release formulation
of sodium phenylbutyrate) for the treatment of various inborn
errors of metabolism, including urea cycle disorders (UCDs) and
Maple Syrup Urine Disease (MSUD); and osanetant for the treatment
of induced Vasomotor Symptoms (iVMS) where Hormone Replacement
Therapy (HRT) is likely contraindicated.  Each of Acer's product
candidates is believed to present a comparatively de-risked
profile, having one or more of a favorable safety profile, clinical
proof-of-concept data, mechanistic differentiation and/or
accelerated paths for development through specific programs and
procedures established by the FDA.

Acer Therapeutics reported a net loss of $22.88 million for the
year ended Dec. 31, 2020, compared to a net loss of $29.42 million
for the year ended Dec. 31, 2019.  As of June 30, 2021, the Company
had $39.98 million in total assets, $32.21 million in total
liabilities, and $7.78 million in total stockholders' equity.

BDO USA, LLP, based in Boston, Massachusetts, issued a "going
concern" qualification in its report dated March 1, 2021, citing
that the Company has recurring losses and negative cash flows from
operations that raise substantial doubt about the Company's ability
to continue as a going concern.


ACTION HOME: Case Summary & 6 Unsecured Creditors
-------------------------------------------------
Debtor: Action Home Appliance Liquidation Center Nevada Inc.
        500 N. McCarran Blvd
        Sparks, NV 89431
        
Business Description: The Debtor is a privately held company that
                      offers home appliances.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 21-50754

Debtor's Counsel: Stephen R. Harris, Esq.
                  HARRIS LAW PRACTICE LLC
                  6151 Lakeside Drive
                  Suite 2100
                  Reno, NV 89511
                  Tel: 775-786-7600
                  Fax: 775-786-7764
                  Email: steve@harrislawreno.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jerry Greiner as president.

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

https://www.pacermonitor.com/view/M2JTNEI/ACTION_HOME_APPLIANCE_LIQUIDATION__nvbke-21-50754__0001.0.pdf?mcid=tGE4TAMA


ALGOZINE MASONRY: Wins Continued Cash Collateral Access
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Indiana,
Hammond Division, has authorized Algozine Masonry Restoration, Inc.
to use cash collateral on an interim basis, pending a final
hearing.

The Debtor requires the use of cash collateral to continue its
operations without interruption long enough to allow it to achieve
a chapter 11 plan.

As of the Petition Date, the Debtor owed these lenders who assert a
blanket lien on all of the Debtor's assets:

   * Ridgestone Bank, for $1,069,378 on account of a term loan
granted to the Debtor,

   * Snap Financial, for $256,946 under a revolving line of
credit,

   * Kabbage Lending, for $43,107,

   * Bank de Leon, for $72,500 under a revolving line of credit,

   * Arch Capital, for $62,950 due under a revolving line of
credit,

   * Platinum Rapid Funding, for $113,000 also under a revolving
line of credit, and

   * Gilco Scaffolding Co. LLC, as judgement creditor, for
$114,474.

Byline Bank, as successor to Ridgestone Bank, has consented to the
use of cash collateral according to previous orders.

As adequate protection for the Debtor's use of Cash Collateral:

     a. The Debtor will expend its Cash Collateral only for the
items, and in the amounts, set forth in the Budget, plus a variance
versus the Budget of up to 10% overall and for each line item;

     b. The Debtor will provide to the Cash Collateral Creditors
replacement liens on all property of the Debtor of the same type,
description and priority as the Cash Collateral Creditors'
pre-petition collateral to the extent that there is any diminution
in value of such property resulting from the Debtor's post-petition
use of such property;

     c. The post-petition security granted to the Cash Collateral
Creditors will have priority over all other claims (including but
not limited to claims pursuant to Bankruptcy Code sections 503(b),
507(a), 507(b) and 726(b)) other than United States Trustee fees,
to the extent of any diminution in value of their collateral,
subject to the Carve-Out;

     d. The Debtor will maintain insurance on all collateral of the
Cash Collateral Creditors;

     e. The Debtor will maintain and care for the Debtor's properly
post-petition in a manner consistent with the Debtor's maintenance
and care for such property pre-petition;

     f. The Debtor will provide the Cash Collateral Creditors with
monthly operating reports upon filing with the Court and the United
States Trustee;

     g. The Debtor will permit the Cash Collateral Creditors, or
their representatives, to have access to any of the Debtor's
premises, on reasonable prior notice, to inspect the Debtor's books
and records and the Cash Collateral Creditors' collateral; and

     i. The Debtor will pay to Byline Bank $2,500 on October 29 and
$2,500 on November 29 as adequate protection.

A Pre-Trial Status Conference on the Cash Collateral Motion is
scheduled for December 15 at 1:30 p.m.

A copy of the order and the Debtor's two-month budget is available
at https://bit.ly/3Bkel03 from PacerMonitor.com.

The Debtor projects $114,000 in total sales and $64,865 in total
general and administrative expenses for the first month and
$135,000 in total sales and $65,165 in total general and
administrative expenses for the second month.

                About Algozine Masonry Restoration

Algozine Masonry Restoration, Inc., filed a Chapter 11 petition
(Bankr. N.D. Ind. Case No. 16-23208) on Nov. 10, 2016.  In the
petition signed by David A. Algozine, vice president, the Debtor
disclosed total assets at $217,951 and total liabilities at $3.11
million.  The Debtor is represented by Allan O. Fridman, Esq., at
the Law Office of O. Allan Fridman.

Judge James R. Ahler oversees the case.

The Debtor filed an Amended Plan and Disclosure Statement in
January 2021.



AMERICAN AIRLINES: Fitch Rates $202MM Class B Certs 'BB+'
---------------------------------------------------------
Fitch Ratings has assigned the following ratings to the proposed
American Airlines Pass Through Trust Certificates, Series 2021-1:

-- $202.1 million class B certificates due July 2030 'BB+'.

Transaction Summary: The class B certificates are an add-on to the
class A certificates announced on Oct. 25. Fitch rated the class A
certificates 'A'. The class A certificate ratings are unaffected by
the issuance of the class B certificates.

The class B certificates will be sized at $202.1 million, and will
feature a tenor of 8.7 years, a weighted average life of six years
and a balloon payment equal to 32.5% of the original principal
balance. Fitch calculates the base LTV for the class B certificates
at 70.3%.

KEY RATING DRIVERS

Collateral Pool: The collateral consists of 21 A321 NEOs and 5 ERJ
175s. Fitch considers all aircraft in the collateral pool to be
tier 1. The A321 NEO is arguably one of the strongest pieces of
collateral available for enhanced equipment trust certificate
(EETC) transactions today due to the aircraft's desirability among
users and strong orderbook. Fitch considers the E175 to be a
borderline tier 1 aircraft due to its limited user base. However,
the E175s make up a small portion of the collateral pool,
contributing only 9% of the total collateral value as calculated
using Fitch's appraisal values.

Class B Certificates: The ratings for the class B certificates are
based on the bottom-up approach detailed in Fitch's EETC criteria,
which calls for the rating to be notched up from American's
corporate rating of 'B-'. Subordinated tranches receive notching
uplift based on three factors, 1) affirmation factor (0-3 notches
for airlines rated in the B category), 2) benefit of a liquidity
facility (+1 notch) and 3) recovery prospects in a 'BB' stress
scenario (typically 0-1 notches for class B certificates). The
transaction supports a five-notch uplift based on a high
affirmation factor (+3), a one notch-uplift for the liquidity
facility and one notch for strong recovery prospects driven by the
relatively low LTV of the 'B' tranche.

Affirmation Factor: Fitch considers the affirmation factor for this
pool of aircraft to be high, supported by the A321 NEO's key role
in American's narrowbody fleet along with the E-175s utility in
allowing American to upgauge its regional offerings. The fuel
efficiency of the A321 NEO supports the affirmation factor. Airbus
estimates that the NEO is roughly 15% more fuel efficient than its
predecessor. Fuel efficiency is of growing importance given the
intense focus around carbon emissions in the airline industry.

The relative likelihood of affirmation in a distress scenario for
the NEOs in the pool is also supported by American's large fleet of
A321-200s, which are less fuel efficient. At YE 2020, American
operated 218 A321-200s. Although the ERJ-175s are weaker collateral
compared with the A321s in terms of marketability, they represent a
positive in terms of affirmation factor. As of year-end 2020,
American operated a fleet 122 regional jets with 50 or fewer seats.
50 seat regional aircraft are far more likely to be rejected in a
potential restructuring than brand new ERJ 175s, as the smaller
planes are more costly to operate, and do not offer a
business-class cabin.

Class B Recovery Notching: Fitch has applied a one notch upward
adjustment to the class B certificates for solid recovery prospects
in a stress scenario. LTVs for the AAL 2021-1 class Bs are lower
than several precedent class B certificates issued by American
Airlines, for which Fitch does not apply a one-notch uplift. Fitch
also views this collateral pool as being favorable for recovery
since the majority of the value resides in new technology
narrowbody aircraft that are less likely to experience value
volatility in the near-term. The class B certificates are expected
to receive full recovery under Fitch's 'BB' level stress scenario.

DERIVATION SUMMARY

The 'BB+' rating on the class B certificates is one notch above
several other outstanding B certificates issued by American. The
difference is driven by a lower LTV and better recovery prospects
in Fitch's 'BB' level stress scenario.

KEY ASSUMPTIONS

Key assumptions within the rating case for the issuer include a
harsh downside scenario in which American declares bankruptcy,
chooses to reject the collateral aircraft and where the aircraft
are remarketed in the midst of a severe slump in aircraft values.
Please see the Key Rating Drivers section of this release for more
details on specific assumptions.

RATING SENSITIVITIES

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

-- Class B certificate ratings are based on the underlying issuer
    rating. The class B's may be upgraded to 'BBB-' if American
    were to be upgraded to 'B'.

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

-- Negative actions on the Class B certificate may be driven by
    downgrades to American's Issuer Default Rating, a re
    evaluation of Fitch's view of the affirmation factor,
    declining collateral coverage or a combination thereof.

BEST/WORST CASE RATING SCENARIO

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

LIQUIDITY AND DEBT STRUCTURE

Liquidity Facility: The Class A and B certificates will feature a
standard 18-month liquidity facility provided by Credit Agricole
(A+/F1/Negative).

Depository: The A321 NEOs in the pool are being pre-funded for 2022
deliveries. Until the deliveries occur, applicable funds will be
held by SMBC (A/F1/Negative), acting as the depository.


ANASTASIA PARENT: Moody's Raises CFR to Caa2, Outlook Stable
------------------------------------------------------------
Moody's Investors Service upgraded Anastasia Parent, LLC's
Corporate Family Rating to Caa2 from Caa3 and its Probability of
Default Rating to Caa2-PD from Caa3-PD. Moody's also upgraded
Anastasia's first lien senior secured revolving credit facility and
term loan ratings to Caa2 from Caa3. The outlook is stable.

The upgrade reflects that Anastasia's sales and earnings are
recovering faster than Moody's previously anticipated following
from improved market demand for color cosmetics as consumers
continue to get vaccinated and resume more away-from-home
activities. Better earnings also reflect the company's cost
reduction initiatives and reduced promotional activities that
Anastasia had to leverage during the peak of the pandemic to reduce
its inventory. The company is also benefiting from its high
specialty retail concentration. Sephora and Ulta are expanding
their presence with Kohl and Target, respectively, and higher foot
traffic translates to higher sales to the brands they carry,
including Anastasia. The company's sizable $126 million cash
balance, modestly positive projected free cash flow and lack of
significant maturities until the revolver expires in August 2023
also reduces near-term default risk and supports the upgrade.

The following ratings are affected by the action:

Ratings Upgraded:

Issuer: Anastasia Parent, LLC

Corporate Family Rating, Upgraded to Caa2 from Caa3

Probability of Default Rating, Upgraded to Caa2-PD from Caa3-PD

Senior Secured Bank Credit Facility (Revolver and Term Loan),
Upgraded to Caa2 (LGD4) from Caa3 (LGD4)

Outlook Actions:

Issuer: Anastasia Parent, LLC

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

The Caa2 CFR reflects Anastasia's high financial leverage, with
debt-to-EBITDA expected at around 8x in 2022. Moody's views the
company's risk of a debt restructuring has moderated somewhat with
the rebound in earnings as strains from the pandemic ease and the
company built a sizable cash balance. Restructuring risk
nevertheless remains elevated. The bulk of the company's recent
earnings gains are due to market-driven factors related to the
reopening of retail distribution and consumers spending more time
outside the home. Moody's believes market share gains necessary to
return to pre-pandemic earnings levels and reduce leverage to a
more sustainable level will be challenging in the highly
competitive color cosmetics category with high leverage that limits
reinvestment flexibility relative to competitors. The company's
relatively small scale with revenues of roughly $210 million
compared to much larger cosmetic competitors, and narrow focus in
prestige color cosmetics leaves Anastasia highly exposed to fashion
risk when consumer preferences shift away from the company's
products. Larger competitors have greater scale, possess more
product and geographic diversity, and have greater investment
capacity through a range of economic cycles. Anastasia has limited
geographic diversity with a significant amount of sales generated
in the U.S. Moreover, the company experienced operating challenges
at warehouses in the past, and effectively managing its supply
chain and inventory is crucial to a successful holiday season.
Execution risk is also elevated at present amid inflationary cost
pressures and supply chain disruptions affecting consumer product
companies and retailers. The rating is supported by the company's
good brand name recognition in niche markets and product
development capabilities. Anastasia also has a strong presence with
specialty retail at Sephora and Ulta, and grows when these
customers expand distribution.

The coronavirus outbreak and the government measures put in place
to contain it continue to disrupt economies and credit markets
across sectors and regions. Although an economic recovery is
underway, the recovery is tenuous, and continuation will be closely
tied to containment of the virus. As a result, a degree of
uncertainty around Moody's forecasts remains. Moody's regards the
coronavirus outbreak as a social risk under its ESG framework,
given the substantial implications for public health and safety.

Social considerations impact Anastasia in that the company is
largely a prestige color cosmetics company. That is, products
related to makeup help individuals enhance their self image and
align with social mores and customs. Hence social factors are the
primary driver of Anastasia's sales, and hence the primary reason
it exists. To the extent such social customs and mores change, it
could have an impact -- positive or negative -- on the company's
sales and earnings.

Governance risk is elevated due to private ownership including a
significant minority share held by private equity firm TPG Capital.
Moody's expects aggressive financial policies with the high
leverage in part due to a sizable dividend distribution paid in
2018.

The stable outlook reflects Moody's view that Anastasia will
continue to improve its credit metrics over the next 12-18 months
through an ongoing recovery in earnings from the weakness
experienced during the coronavirus downturn. Moody's also expects
the company to generate modest free cash flow and maintain at least
adequate liquidity.

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

The ratings could be downgraded if there is renewed earnings
deterioration or if Anastasia's liquidity weakens, including
failure to proactively extend the maturity of its revolving credit
facility. A downgrade could also occur if Moody's views the
company's capital structure is becoming increasingly unsustainable,
including an increased probability that Anastasia will pursue a
restructuring or other transaction that Moody's would consider a
distressed exchange.

The ratings could be upgraded if Anastasia materially improves its
operating performance and reduces its financial leverage to a
sustainable level. In addition, the company would need to
successfully extend the maturity of its revolver, which will turn
current in August 2022.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

Based in Beverly Hills, CA, Anastasia is a marketer and seller of
prestige color cosmetics largely in the U.S. Anastasia is majority
owned by the Soare family with TPG owning a minority interest. The
company generated roughly $ 210 million in annual revenue for the
twelve months ending June 30, 2021.


ARCH RESOURCES: S&P Alters Outlook to Stable, Affirms 'B-' ICR
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on coal
producer Arch Resources Inc. and revised the outlook to stable from
negative.

S&P said, "Our 'B' issue-level rating on Arch's senior secured debt
is unchanged, with a '2' recovery rating, indicating our
expectation for high (75%-90%; rounded estimate: 80%) recovery in
the event of a default.

"The stable outlook reflects our expectation that Arch's free
operating cash flow will turn positive to about $100 million in
2021 with highly contracted position in 2022 and higher
realizations. This will help Arch fund some of the $238 million of
reclamation obligations and mitigate the risk of collateral calls
from surety providers in the next 12 months.

"Positive free cash flows and current $210 million cash balance
will fund required reclamation work and the minimum collateral
requirements in the next 12 months. We estimate free cash flow will
turn positive in the second half of 2021 and could reach $350
million-$380 million in 2022 on higher coal volumes and
realizations and lower capital spending. Specifically, Arch
completed the Leer South expansion project in August 2021 and could
potentially sell three million tons of incremental metallurgical
(met) coal at peak prices as the mine ramps up to full capacity
over the next few months. We anticipate 70%-80% of 2022 met coal
production (about 9.5 million tons) will be sold on the
international spot market, where high-vol A prices have reached
$390/ton recently, compared with historical averages of about
$140/ton. In addition, Arch will likely mobilize higher production
from its West Elk mine in Colorado, an underground operation that
required higher domestic volumes to generate a profit last year,
but currently advantageous for the $150-$170/ton international
market.

"Earlier this month, Arch reached agreements with its surety
providers to limit cash collateral to minimum payments over the
next few years, which we think has mitigated a potential liquidity
shortfall. Arch has approximately $606 million in surety bonds
outstanding backing asset retirement obligations and workers'
compensation benefits. The company has established a sinking fund
that we project could build up to $150 million-$200 million over
the next two to three years. Furthermore, Arch has announced that
it will continue to reduce its reclamation obligations
(approximately $238 million as of the second quarter of 2021
compared with $258 million in 2020) through accelerated reclamation
work of its Powder River Basin (PRB) operations.

"Due to a temporary surge in domestic thermal coal demand, we
expect Arch will be able to fund reclamation obligations in the
PRB. We anticipate Arch could delay its strategic plan to reduce
the footprint of its thermal coal operations due to the temporary
surge in demand and prices. We assume Black Thunder and Coal Creek
mines will sell 60 million-66 million tons of fully contracted and
priced short tons in 2021 and 2022, up from 52 million short tons
in 2020. Similarly, we assume West Elk will sell close to 3 million
short tons of thermal coal on the international market in 2021 and
2022, compared to the possibility of the mine being shut down last
year. Simultaneously, we expect the company will continue to
perform reclamation work, where possible, and establish a sinking
fund to satisfy surety requirements and reduce asset retirement
obligations. We estimate, Black Thunder, Arch's most productive
mine in the PRB, could generate $100 million-$150 million of
operating cash flows in the next 12 months. After modest capital
expenditures, we expect Arch will satisfy the requirements of the
sinking fund and continue to perform reclamation work on its
mines.

"Arch could face limited access to the capital markets because of
environmental, social, and governance (ESG) considerations. We
believe coal companies will continue to lose access to traditional
financing options as major financial and investment companies have
decreased or committed to divest their coal investments. Although
we project Arch's adjusted leverage could fall under 2x by 2022
pressure to curb carbon emissions will likely degrade earnings
strength over a longer horizon and could hinder rating upside. We
project free operating cash flow could decline to about $200
million-$230 million after 2022, which coupled with cash balance
(projected to build to about $550 million in 2022) should be
sufficient repay Arch's $555 million funded debt when it comes due
if Arch is unable to access to the capital markets then. In this
operating environment, we also believe Arch will continue to
pre-fund reclamation obligations with available discretionary cash
flow.

"The stable outlook reflects our view that Arch has mitigated the
risk of a liquidity shortfall over the next 12 months. We believe
that our projections for higher discretionary cash flow will allow
the company to complete required reclamation work and satisfy the
minimum collateral requirements for surety bond providers over the
next 12 months. We expect Arch to lower its adjusted leverage to
about 2x in 2021 and below 2x in 2022.

"We could lower the rating over the next 12 months if current
favorable market conditions sharply reverse, leading to reduced
demand and realizations or operational disruption at company's
mines."

Such scenarios would be consistent with:

-- Interest coverage under 2x;

-- Liquidity sources, including access under asset-based
facilities, of less than 1.2x fixed charges or the company being at
risk of breaching its liquidity covenant;

-- Negative free operating cash flow on a sustained basis
(operating cash flow less capital spending); and

-- Deteriorated standing in credit markets.

Although unlikely, S&P could consider upgrading Arch in the next 12
months if:

-- S&P viewed the business as more stable and cash flows as more
sustainable after 2022, incorporating the total adjusted debt
burden of about $1 billion (including reclamation and other
long-term obligations) and the secular decline of the thermal coal
operations;

-- The company demonstrated adequate access to the capital markets
by refinancing its term loan at a reasonable rate; and

-- Lowered adjusted debt leverage below 3x on sustained basis
(from 6x as of the second quarter 2021 on a last-12-months LTM
basis).



ASCENTRA HOLDINGS: Chapter 15 Case Summary
------------------------------------------
Chapter 15 Debtor:        Ascentra Holdings, Inc.
                          JTC (Cayman) Ltd., 94 Solaris Avenue
                          Camana Bay, P.O. Box 30745
                          Grand Cayman
                          Cayman Islands, KY1-1203

Type of Business:         Ascentra was an e-commerce company,
                          selling health and beauty products to
                          the Asian market via a network of
                          members.  On June 1, 2021, by unanimous
                          written resolutions, Ascentra's
                          shareholders resolved to place the
                          company into voluntary liquidation.

Foreign Proceeding:       Section 124 of the Companies Act of the
                          Cayman Islands (2021 Revision)

Chapter 15 Petition Date: October 27, 2021

Court:                    United States Bankruptcy Court
                          Southern District of New York

Case No.:                 21-11854

Judge:                    Hon. David S. Jones

Foreign Representatives:  Graham Robinson and Ivy Chua
                          Crowe Cayman Ltd. 94 Solaris Avenue
                          Camana Bay, P.O. Box 30851
                          Grand Cayman
                          Cayman Islands, KY1-1204

Foreign
Representatives'
Counsel:                  John A. Pintarelli, Esq.
                          Kwame O. Akuffo, Esq.
                          PILLSBURY WINTHROP SHAW PITTMAN LLP
                          31 West 52nd Street
                          New York, NY 10019
                          Tel: (212) 858-1213
                          Email: john.pintarelli@pillsburylaw.com
                                 kwame.akuffo@pillsburylaw.com

Estimated Assets:         Unknown

Estimated Debt:           Unknown

A full-text copy of the Chapter 15 petition is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/4GRY3ZA/Ascentra_Holdings_Inc_and_Graham__nysbke-21-11854__0002.0.pdf?mcid=tGE4TAMA


AVADIM HEALTH: Court Confirms Plan Over Release Objections
----------------------------------------------------------
Vince Sullivan, writing for Law360, reports that the Chapter 11
liquidation of health care product maker Avadim Health Inc.
received bankruptcy court approval in Delaware on Wednesday,
October 27, 2021, after a judge said the third-party releases
included in the plan were acceptable.

During a virtual hearing, U.S. Bankruptcy Judge Craig T. Goldblatt
overruled objections from the Office of the U.S. Trustee concerning
the third-party releases, saying no party giving up claims against
third parties had opposed the plan. "When you've got third-party
releases, what you've got is a plan provision whose propriety is
disputable," Judge Goldblatt said.

                      About Avadim Health

Avadim Health, Inc. is an Asheville, N.C.-based healthcare and
wellness company that develops, manufactures and markets topical
products for the institutional care and consumer markets. It was
formerly known as Avadim Technologies Inc.

Avadim and its affiliates sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 21-10883) on June 1, 2021. In the petition
signed by CRO Keith Daniels, Avadim disclosed total assets of
between $10 million and $50 million and total liabilities of
between $100 million and $500 million.

Judge Craig T. Goldblatt oversees the cases.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Chapman
and Cutler LLP as legal counsel, SSG Capital Advisors LLC as
investment banker, and Carl Marks Advisory Group LLC as
restructuring advisor. Keith Daniels, a partner at Carl Marks,
serves as the Debtors' chief restructuring officer. Omni Agent
Solutions is the claims and noticing agent and administrative
agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors in the Debtors' Chapter
11 cases on June 9, 2021. The committee tapped Fox Rothschild, LLP
and Lowenstein Sandler, LLP  as its legal counsel and Province, LLC
as its financial advisor.

The U.S. Bankruptcy Court for the District of Delaware, on August
26, 2021, authorized the change of caption in the Debtors' cases to
conform with the name change of Avadim Health, Inc. to AH
Liquidation, Inc., pursuant to the Stalking Horse Asset Purchase
Agreement governing the sale of substantially all of the Debtors'
assets to Midava Holdings 3, Inc. (n/k/a Avadim Holdings, Inc.) for
a $69,950,000 credit bid and the assumption of certain liabilities.


AVIANCA HOLDINGS: Creditors Committee Defends Plan
--------------------------------------------------
Juan Pedro Sanchez Zamudio of AviacionLine reports that the
Official Committee of Unsecured Creditors of Avianca Holdings S.A.
(The Committee), by and through its undersigned counsel, submitted
this October 25, 2021, a statement in support of the confirmation
of the Joint Chapter 11 Plan of Avianca Holdings S.A. and Its
Affiliated Debtors, filed on September 15, 2021.

The Committee believes that the settlement embodied in the Plan
maximizes recoveries to holders of General Unsecured Avianca
Claims.

According to the Committee, the Plan represents the culmination of
more than a year of negotiations among the Debtors, the Committee,
and the Debtors' pre and postpetition lenders.

As a result of these efforts, holders of General Unsecured Avianca
Claims, who would receive no recovery in a hypothetical liquidation
scenario, will share in a distribution valued at approximately $36
million.

The Plan is overwhelmingly supported by the class of General
Unsecured Avianca Claims, which includes the 2020 Notes and the
2023 Notes, represented by 92% of the holders of General Unsecured
Avianca Claims, representing 98% of the total amount of claims held
by the class.

However, there were objections to the Plan, which were filed by a
small number of individual holders of 2023 Notes Claims.

According to the Committee, these oppositions attempt to apply
legal principles that are inapplicable under the circumstances of
these Chapter 11 Cases.

                         Unfair Valuation

The first objection argue that the Plan violates the Bankruptcy Law
because the Debtors did not perform a "fair valuation."

In response, The Committee conducted an extensive, competitive
marketing process to determine the value of their estates,
contacting over 125 parties to identify the best terms on which
they could secure exit financing, which resulted in the Debtors’
equity being valued at $800 million and the transaction that is now
embodied in the Plan.

                     2023 Notes Remain Secured

Also, the 2023 Notes Objections also appear to argue that the 2023
Notes remain secured, which is not true.

On August 28, 2020, the Debtors and a majority of the holders of
the 2023 Notes executed a restructuring support agreement, pursuant
to which the Consenting Noteholders agreed to direct Wilmington
Savings Fund Society, FSB, as trustee and collateral trustee for
the 2023 Notes, to, among other things, consent to the Debtors'
grant of liens securing their Debtor-In-Possession financing
facility.

Those liens primed the existing liens granted on all of the
collateral securing the 2023 Notes, which now partially secures the
DIP Facility.

                  Avianca's Plan Consolidation is Improper

Avianca Debtors have operated in a manner that justifies
substantive consolidation: in particular, many of the most
significant General Unsecured Avianca Claims are subject to
cross-entity guarantees, and the separate corporate existence of
many of the Avianca Debtors was driven principally by local
regulatory requirements.

The Avianca Debtors also act under one umbrella brand of "Avianca"
and it is common for the Avianca Debtors to routinely transfer
assets and incur intercompany liabilities based on the Avianca
Debtors' needs as a whole.

                       Avianca's Debtors Plan

According to The Committee, if the Avianca Plan Consolidation is
approved, then the Plan will constitute a single chapter 11 plan
for all 37 consolidated Avianca Debtors.

The assets and liabilities of those entities, including all general
unsecured claims against them, will be treated as if they belong to
a single debtor.

                    About Avianca Holdings SA

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

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

Judge Martin Glenn oversees the cases.

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

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


AVIANCA HOLDINGS: Plan Ruling Delayed Amid New Domicile
-------------------------------------------------------
CH-Aviation reports that a court decision on the bankruptcy exit
plan of Avianca Holdings has been postponed pending the receipt of
additional documentation, the airline group announced.

Judge Martin Glenn of the US Bankruptcy Court in the Southern
District of New York postponed an October 26, 2021 hearing, setting
a deadline for additional documentation to be submitted by 1700L
(2100Z) on October 28, 2021, Avianca Holdings said in a Securities
and Exchange Commission (SEC) filing. "The Company remains focused
on advancing its Chapter 11 process as efficiently as possible," it
said.

Avianca Holdings -- the parent of Colombia's Avianca Airlines (AV,
Bogota) -- is asking for the approval of a restructuring plan that
will reduce its debt by about USD3 billion, preserve more than
10,000 jobs, and transfer majority ownership to lenders and
noteholders. Creditors were asked to submit their votes on the plan
to the court by October 15.

According to the plan, Avianca Holdings will roll over USD1.6
billion of loans and raise USD200 million of new equity, reports
Bloomberg. Certain lenders and noteholders including United
Airlines and Kingsland Holdings - which is controlled by Salvadoran
mogul Roberto Jose Kriete Avila and Citadel LLC - will gain 72%
equity in exchange for cancelling more than USD900 million of
debt.

During the hearing, reports Bloomberg, the judge was displeased
that Avianca had not revealed earlier its intention to relocate its
legal domain from Colombia to the United Kingdom, and queried
whether another re-organisation was being considered under British
law.  If so, the new owners' capital would be protected under UK
corporate restructuring rules, Glenn remarked, whereas under the US
bankruptcy code, all creditors must receive full payment before
shareholders receive anything.

However, Avianca's lawyer Evan Fleck denied the company was
pursuing restructuring in the UK.  The decision to become a UK
corporate entity was made well after the reorganisation process, he
said.  Instead, he stated, the move was aimed at obtaining certain
tax benefits.  Avianca Holdings is based in Panama while Avianca
Airlines operates out of Colombia.

"The proposal to domicile the new holding company in the United
Kingdom is based on the fact that the rules and decisions of the
Chapter 11 process are recognized in said territory.  Consequently,
the new domicile does not imply any change in the operation or
presence of the airline in their respective jurisdictions," Avianca
clarified.

Avianca Holdings and certain of its subsidiaries and affiliates
filed voluntary petitions under Chapter 11 of the US Bankruptcy
Code on May 10, 2020, as Colombia and other South American
countries went into COVID-19 lockdown. Under an eight-year
financial forecast published in August, Avianca expects to post a
pre-tax profit in 2023.

                   About Avianca Holdings SA

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

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

Judge Martin Glenn oversees the cases.

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

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


AVIANCA HOLDINGS: Seeks Court OK of Plan to Cut Debt by $3 Billion
------------------------------------------------------------------
Ezra Fieser and Steven Church of Bloomberg News report that Avianca
Holdings SA asked a judge for permission to exit bankruptcy under a
plan that the airline says will eliminate about $3 billion in debt
and preserve over 10,000 jobs.

Latin America's second-largest airline before the pandemic
presented its restructuring plan at a hearing in New York Tuesday.
If approved, the 102-year-old company is eyeing an exit from
bankruptcy this 2021.

U.S. Bankruptcy Judge Martin Glenn appeared to side with the
company when a handful of objectors claimed the proposal wrongly
favored some creditors over others.

                     Committee Defends Plan

On Aug. 10, 2021, the Debtors filed a plan of reorganization which
provides for, among other things, (a) the conversion of the
Aggregate Tranche B DIP Obligations Amount into equity interests of
a new holding company of the reorganized Debtors ("Reorganized
AVH"), (b) an equity raise by Reorganized AVH in an aggregate
amount equal to $200,000,000, to be funded through cash payments by
certain of the Supporting Tranche B Lenders, and (c) the issue of
certain "exit" notes in full and final settlement of Tranche A-1
DIP Facility Claims and Tranche A-2 DIP Facility Claims.  Should
Avianca win approval to exit bankruptcy, it will become a U.K.
incorporated company.

According to the Debtors, because the DIP Facility Claims exceed
the value of the "Shared Collateral" -- which includes all of the
collateral of the 2023 Notes Claims -- the 2023 Notes Claims (and
other prepetition indebtedness that is secured by the Secured
Collateral) are unsecured and are appropriately classified as
General Unsecured Avianca Claims.

The Plan represents the culmination of more than a year of
negotiations among the Debtors, the Creditors Committee, and the
Debtors' pre- and post-petition lenders.  As a result of these
efforts, the Committee points out that holders of General Unsecured
Avianca Claims -- who would receive no recovery in a hypothetical
liquidation scenario -- will share in a distribution valued at
approximately $36,000,000.

According to the Committee, the objections by of Burlingame
Investment Partners LP, et al., incorrectly argue that the Plan
violates Section 506 of the Bankruptcy Code by treating the 2023
Notes Claims as unsecured, in part because the Debtors did not
perform a "fair valuation."  To the contrary, the Debtors conducted
an extensive, competitive marketing process to determine the value
of their estates.  The Debtors contacted over 125 parties to
identify the best terms on which they could secure exit financing,
which resulted in the Debtors' equity being valued at $800  million
and the transaction that is now embodied in the Plan.

                      About Avianca Holdings SA

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

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

Judge Martin Glenn oversees the cases.

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

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


AXIA REALTY: Unsecureds to Get 100%; Plan Hearing Nov. 10
---------------------------------------------------------
Axia Realty, LLC, submitted a First Amended Disclosure Statement to
accompany First Amended Plan of Reorganization dated October 22,
2021.

The Plan is predicated upon the Global Settlement Agreement entered
into between, among other parties, the Debtor and its Equity
Interest Holders, the Guardian, Phoenix and Levant which resolves
all disputes pertaining to ownership of the Reorganized Debtor as
well as Phoenix's Claims and the Debtor's alleged claims against
Spiros, Phoenix and/or Levant. The Global Settlement Agreement also
resolves various claims between certain parties which are not
directly related to the Debtor.

Pursuant to the Global Settlement Agreement, the Debtor will
promptly (after confirmation of the Plan) close on the sale of Unit
2. The Debtor has entered into a contract to sell Unit 2 for a net
purchase price of $8 million. From the Sale Proceeds, the
Reorganized Debtor shall satisfy in full the DIP Loan and pay all
Creditors whether Secured or Unsecured 100% of their Allowed Claims
plus applicable interest rendering them unimpaired and conclusively
deemed to have accepted the Plan.

As it pertains to the Debtor's case, the Global Settlement
Agreement provides for (a) the Allowance and payment in full of
Phoenix's Allowed Secured Claim in the sum of $2,226,549.00; (b)
the withdrawal with prejudice of Phoenix's Unsecured Claim; (c) the
withdrawal with prejudice of Spiros' proof of claim (filed by the
Guardian) denominated as Claim no. 14 on the Claims Register in the
amount of $689,656.23; (d) a release by the Debtor of all claims or
causes of actions against Phoenix and Levant; and (e) the transfer
of Spiros' Equity Interest in the Debtor to Antonia. Based upon the
reduction of Claims set forth in the Global Settlement Agreement,
the Reorganized Debtor will have sufficient funds from Closing the
Sale of Unit 2 to pay all Allowed Claims in full.

Cedro, Silver Lining and Neyor, each have asserted Claims
individually and derivatively on behalf of the Condominium against
the Debtor. These Claims are detailed in the Cedro Action. In
short, these Claims arise from the Debtor's failure to comply with
its obligations as a sponsor as required by the Offering Plan and
the Martin Act. The Debtor will attempt to resolve these Claims
consensually and if an agreement cannot be reached, the Debtor
intends to file an objection to such Claims. However, if the
Bankruptcy Court determines the Claims are Allowed Claims, they
will be paid in full plus interest under the Plan.

The Reorganized Debtor shall continue to be managed on a day to day
basis by Antonia who will own 100% of the Equity Interest in the
Reorganized Debtor.

Class 1 consists of DIP Lender's Secured Claim. This Claim shall
receive 100% of Allowed Secured Claim plus interest at the rate set
forth in the DIP Loan Agreement unless otherwise agreed by the DIP
Lender. The DIP Lender's Allowed Secured Claim shall be paid from
the Sale Proceeds from the Sale of Unit 2 and if not paid in full,
from the Sale of Unit 2, from the subsequent sale of the Retained
Condominium Unit(s) unless otherwise agreed between the Reorganized
Debtor and the DIP Lender.

Class 2 consists of Phoenix's Secured Claim. As per the Global
Settlement Agreement, Phoenix's Class 2 Claim shall be paid
$2,226,549.00 from the Sale Proceeds on the Effective Date.

Class 3 consists of NYC's Claim. Class 3 consists of Claim No. 15
filed by NYC in the amount $913,075.36 which includes a tax warrant
in the amount of $577,089.87. The tax warrant to the extent valid,
constitutes a Lien against the Retained Units. This Claim asserts
unpaid unincorporated business tax since the Debtor is treated as a
partnership. The Debtor disputes portions of this Claim and will
attempt to resolve the Claim consensually with the City of New
York. The Plan provides the Allowed Amount of this Claim shall be
paid in full plus applicable interest on the latter of the
Effective Date or when the Claim becomes an Allowed Claim.

Class 4 consists of General Unsecured Claims. This Class shall
receive 100% of Allowed Claim, with interest at 3% per annum from
the Petition Date, to be paid in Cash from the Sale Proceeds on the
later of the Effective Date or when such Claim becomes an Allowed
Class 4 Claim. Based upon the Debtor's books and records, the filed
Proofs of Claim and the Global Settlement Agreement, the Debtor
estimates Allowed Class 4 Claims will be no more than
$1,400,000.00. Class 4 is not impaired under the Plan.

Class 5 consists of Equity Interest Holders. Antonia and Spiros are
the sole Class 5 Equity Interest Holders. The Plan provides that on
the Effective Date, Spiros' 50% ownership shall be transferred to
Antonia, and Antonia shall be the sole Equity Interest Holder in
the Reorganized Debtor.

           Source of Payments

The Plan will be funded from Closing of the Sale of Unit 2. The net
Sale Proceeds after payment of Corcoran's broker's commission, real
estate taxes and miscellaneous Closing costs will be approximately
$7,500,000.00. The Reorganized Debtor shall, if necessary, sell one
or more of the Retained Condominium Units pursuant to §1123 of the
Bankruptcy Code. However, the Reorganized Debtor may elect to rent
Unit 1 and Unit 1A as there will be sufficient funds from the Sale
of Unit 2 to pay all Allowed Claims.

            Sale of Unit 2

On or about June 15, 2021, the Debtor entered into a contract to
sell Unit 2 for the net purchase price of $8 million. The Debtor
filed a motion to obtain a court authorization to sell Unit 2. The
Debtor intends to close on the Sale of Unit 2 pursuant to
§1123(a)(5) of the Bankruptcy Code promptly after Confirmation of
the Plan. The Sale Proceeds will be utilized to fund the Plan.

Pursuant to an order of the Bankruptcy Court with respect to the
Sale of Unit 2, the net sale proceeds after payment of the DIP
Loan, Condo Association Obligations, the Tax Obligations, the
Brokerage Commission and any other customary Closing costs
including transfer taxes, shall be retained in escrow by the
Debtor's counsel pending further order of the Court. The Debtor
shall be permitted to use up to $200,000 of the net proceeds for
the payment of operating expenses solely in accordance with a
budget approved by Phoenix and the United States Trustee or other
order of the Bankruptcy Court in absence of such approval.

The Bankruptcy Court has scheduled a combined hearing to consider
approval of the Disclosure Statement and Confirmation of the Plan
for November 10, 2021 at 11:00 a.m.

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

Attorneys for Axia Realty, LLC:

     Scott S. Markowitz, Esq.
     Robert A. Wolf, Esq.
     TARTER KRINSKY & DROGIN LLP
     1350 Broadway, 11th Floor
     New York, New York 10018
     Tel: (212) 216-8000
     E-mail: smarkowitz@tarterkrinsky.com
             rwolf@tarterkrinsky.com

                       About Axia Realty

Axia Realty, LLC, is a New York limited liability company and the
sponsor of a boutique luxury condominium development located at 40
East 72nd Street, in New York, NY.  The sole equity interest
holders are Antonia and Spiros Milonas.  Antonia is currently
acting as the Debtor's sole manager due to Spiros having been
judicially declared incapacitated and unable to manage his own
assets by order of the New York Court.

New York-based Axia Realty, LLC, filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 20-12511) on Oct. 26, 2020.  Antonia
Milonas, manager, signed the petition.  In its petition, the Debtor
disclosed $45,750,000 in assets and $9,197,428 in liabilities.

Judge Martin Glenn presides over the case.

The Debtor tapped Tarter Krinsky & Drogin LLP as bankruptcy counsel
and Vernon Consulting Inc. as financial advisor and accountant.


BASIC ENERGY: Gordon Bros. to Sell Ranger Excess Assets
-------------------------------------------------------
Gordon Brothers, the global advisory, restructuring and investment
firm, will serve as Ranger Energy Services Inc.'s agent in the
disposition of excess oil field services equipment and operating
assets the company purchased through the Basic Energy Services Inc.
bankruptcy process.

Gordon Brothers will dispose of assets including, but not limited
to, light duty vehicle and tractor fleets, workover rig engines and
transmissions and related ancillary and support equipment excess to
Ranger Energy Services' continuing operations.

"Gordon Brothers is pleased to provide a creative solution and
assist Ranger in the disposition of these assets," said Bob
Maroney, President, Commercial & Industrial at Gordon Brothers.
"This is an exciting part of a broader strategy to create value,
maximize liquidity and support growth for our client."

"Ranger Energy Services is looking forward to working with Gordon
Brothers in a joint effort to quickly and efficiently monetize this
significant quantity of idle assets," said Stuart Bodden, CEO at
Ranger Energy Services. "We appreciate Gordon Brothers' vision in
bringing a creative, structured solution to the table and
facilitating an additional source of value capture in our Basic
Energy Services transaction."

Gordon Brothers specializes in structuring complex, multi-asset
transactions within the commercial and industrial sector, serving
as a strategic partner to help companies and their investors during
times of transformation. Across virtually all commercial and
industrial sectors, the firm leverages decades of experience
buying, selling, operating and valuing assets throughout North
America, Australia, Brazil, Europe, Japan and the U.K.

                   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. Tex. Lead Case No. 21-90002) on Aug. 17,
2021. As of March 31, 2021, Basic Energy disclosed total assets of
$331 million and debt of $549 million.

Judge David R. Jones oversees the cases.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel,
AlixPartners LLP as restructuring advisor, and Lazard Freres &
Company as financial advisor. Prime Clerk is the claims agent.

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.
Riveron RTS, LLC, formerly known as Conway MacKenzie, LLC, is the
financial advisor.

                       About Gordon Brothers

Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped
lenders, operating executives, advisors and investors move forward
through change. The firm brings a powerful combination of expertise
and capital to clients, developing customized solutions on an
integrated or standalone basis across four services areas:
valuations, dispositions, operations and investments. Whether to
fuel growth or facilitate strategic consolidation, Gordon Brothers
partners with companies in the retail, commercial and industrial
sectors to put assets to their highest and best use. Gordon
Brothers conducts more than $70 billion worth of dispositions and
appraisals annually. Gordon Brothers is headquartered in Boston,
with over 30 offices across five continents.


CALUMET PAINT: Wins Cash Collateral Access Thru Nov 30
------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, has authorized Calumet Paint & Wallpaper, Inc. to
use cash collateral on an interim basis and provide related relief
through November 30, 2021.

In return for the Debtor's continued interim use of cash
collateral, Pratt & Lambert United, Inc. and PPG Architectural
Finishes, Inc. are granted these adequate protection for their
purported secured interests in property of the Debtor:

     1. The Debtor will permit the Secured Creditors to inspect,
upon reasonable notice, within reasonable hours, the Debtor's books
and records;

     2. The Debtor will maintain and pay premiums for insurance to
cover all of its assets from fire, theft and water damage;

     3. The Debtors will, upon reasonable request, make available
to the Secured Creditors evidence of that which constitutes their
collateral or proceeds;

     4. The Debtor will properly maintain its assets in good repair
and properly manage its business;

     5. The Secured Creditors will be granted valid, perfected,
enforceable security interests in and to the Debtor's post-petition
assets, including all proceeds and products which are now or
hereafter become property of this estate to the extent and priority
of their alleged pre-petition liens, if valid, but only to the
extent of any diminution in the value of such assets during the
period from the commencement of the Debtor's Chapter 11 case
through November 30.

A final hearing on the Motion is scheduled for November 29 at 1:30
p.m.

A copy of the order is available at https://bit.ly/3nDYd4K from
PacerMonitor.com.

               About Calumet Paint & Wallpaper, Inc.

Calumet Paint & Wallpaper, Inc.  is an Illinois corporation
operating from leased premises at 12120 Western Avenue, Blue
Island, Illinois. Calumet Paint has been in business since 1957 and
is currently an authorized Benjamin Moore retailer  specializing in
the sale of interior and exterior paints, stains and related
supplies. Calumet Paint sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 21-11709 on October
13, 2021. In the petition signed by Mark R. Lavelle, president, the
Debtor disclosed up to $1 million in both assets and liabilities.

Judge Timothy A. Barnes oversees the case.

David K. Wench, Esq., at Burke, Warren, MacKay and Serritella, PC
is the Debtor's counsel.



CALVERT CITY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Calvert City Quarry, LLC
        5229 Industrial Parkway
        Calvert City, KY 42029

Business Description: Calvert City Quarry, LLC is primarily
engaged
                      in developing mine site, mining or quarrying
                      crushed and broken limestone.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Western District of Kentucky

Case No.: 21-50418

Debtor's Counsel: Todd Farmer, Esq.
                  FARMER & WRIGHT
                  4975 Alben Barkley Drive Suite 1
                  Paducah, KY 42001
                  Tel: 270-443-4431
                  E-mail: todd@farmerwright.com

Total Assets: $3,474,540

Total Liabilities: $15,376,242

The petition was signed by James C. Bailey a managing member.

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/RIJRMWY/Calvert_City_Quarry_LLC__kywbke-21-50418__0001.0.pdf?mcid=tGE4TAMA


CAMDEN DIOCESE: Hikes Abuse Fund But Still Faces Criticism
----------------------------------------------------------
Jim Walsh of Cherry Hill Courier-Post reports that the Diocese of
Camden says its insurers will contribute over $27 million to
payments for survivors of clergy sex abuse, more than doubling the
amount it offered two weeks ago.

"There is now $53 million available for survivors," Richard Trenk,
the lead attorney for the diocese's Chapter 11 bankruptcy action,
said in a statement Tuesday, October 26, 2021.

But a lawyer for sex abuse claimants rejected the diocese's latest
proposal as "not acceptable."

"We believe that the settlement is an end run" around a committee
representing some 300 survivors, said attorney Jeffrey Prol of
Roseland, Essex County.

He asserted the diocese's insurance carriers were capable of
providing $140 million or more for claimants.

Attorneys for claimants previously had sharply criticized a
diocesan offer of $26 million, which was included in an Oct. 12,
2021 reorganization plan. An earlier diocesan plan had proposed $10
million in December.

The diocese acknowledged the attorneys' opposition in a statement
announcing the settlement with its insurers.

"Unfortunately, the survivor committee has not yet made a bona fide
demand," it claimed.

"Name calling is not negotiating," asserted Trenk, a Livingston,
Essex County, lawyer.

He cited "the need to get survivors settlement funds, and the need
for the diocese, parishes and other Catholic entities to move
forward in order to serve the faithful and the greater community."

How we got here: Camden diocese faces wave of clergy sex-abuse
claims

The diocese previously has said it's spent more than $7 million in
legal fees tied to its bankruptcy action, claiming any delays "will
only further exhaust its funds."

Attorneys for victims, however, contend the diocese has understated
its assets.

The diocese's reorganization plan, which is to be amended to
reflect the insurance money, needs the approval of U.S. Bankruptcy
Judge Jerrold Poslusny in Camden.

The judge rejected the diocese's original plan earlier this year.

In a letter to Poslusny on Tuesday, Prol asserted the diocese had
misrepresented the committee's positions and had violated
expectations that the mediation process "would be held strictly
confidential."

The two sides also split over the circumstances under which the
diocese and its insurers reached the $27 million figure.

In an interview, Prol said, "That offer was made outside of our
presence and is not acceptable to the committee."

Trenk asserted "the committee left the mediation knowing full well
that the insurers had flown in from around the country for the sole
purpose of negotiating a settlement." The diocese's attorney also
claimed the committee "has never been excluded from any part of the
mediation."

But Prol's letter to Poslusny asserted committee members had not
attended sessions at the direction of the mediator, whose
guidelines were "largely driven by pandemic-related restrictions on
the number of people who can safely attend."

The diocese filed for protection from creditors in October 2020,
citing the financial impact of the COVID-19 pandemic and mounting
payments to sex-abuse survivors.

The diocese said it paid $8 million two years ago to settle 71
claims while participating in a program created by the state's five
Catholic dioceses. It also paid $11 million to additional victims
from the mid-1990s to the late 2010s.

The diocese serves about 475,000 Catholics in six South Jersey
counties.

                   About The Diocese of Camden

The Diocese of Camden, New Jersey is a non-profit religious
corporation organized pursuant to Title 16 of the Revised Statutes
of New Jersey. It is the secular legal embodiment of the Roman
Catholic Diocese of Camden, a juridic person recognized under Canon
Law.

The Diocese of Camden sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 20-21257) on Oct. 1, 2020.
Reverend Robert E. Hughes, vicar general and vice president, signed
the petition. In the petition, the Debtor disclosed total assets of
$53,575,365 and liabilities of $25,727,209.

Judge Jerrold N. Poslusny Jr. oversees the case.

The Debtor tapped McManimon, Scotland & Baumann, LLC as its
bankruptcy counsel, Eisneramper, LLP, as financial advisor, Cooper
Levenson P.A. and Duane Morris LLP as special counsel. Prime Clerk
LLC is the Debtor's claims and noticing agent and administrative
advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured trade creditors in the Debtor's Chapter 11
case.  The committee is represented by Porzio, Bromberg & Newman,
P.C.


COMMUNITY HEALTH: Posts $144 Million Net Income in Third Quarter
----------------------------------------------------------------
Community Health Systems, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net income of $144 million on $3.12 billion of net operating
revenues for the three months ended Sept. 30, 2021, compared to net
income of $128 million on $3.13 billion of net operating revenues
for the three months ended Sept. 30, 2020.

For the nine months ended Sept. 30, 2021, the Company reported net
income of $146 million on $9.14 billion of net operating revenues
compared to net income of $254 million on $8.67 billion of net
operating revenues for the nine months ended Sept. 30, 2020.

As of Sept. 30, 2021, the Company had $15.67 billion in total
assets, $16.67 billion in total liabilities, $493 million in
redeemable noncontrolling interests in equity of consolidated
subsidiaries, and a total stockholders' deficit of $1.49 billion.

Commenting on the results, Tim L. Hingtgen, chief executive officer
of Community Health Systems, Inc., said, "During the third quarter,
we experienced the largest number of COVID-19 cases to date.  We
are grateful to our medical staffs, clinical support teams and
hospital leaders who again ensured exceptional care for their
patients during this latest surge.  We are also pleased with our
results this quarter, especially as we balanced the demands of
caring for COVID-19 patients while remaining focused on our growth
strategies, key investments and operational improvement plans,
which we believe will continue to drive positive results in the
future."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001108109/000156459021052633/cyh-10q_20210930.htm

                About Community Health Systems Inc.

Community Health Systems, Inc. -- http://www.chs.net-- is a
publicly traded hospital company and an operator of general acute
care hospitals in communities across the country.  The Company,
through its subsidiaries, owns, leases or operates 83 affiliated
hospitals in 16 states with an aggregate of approximately 13,000
licensed beds. The Company's headquarters are located in Franklin,
Tennessee, a suburb south of Nashville.

                             *   *   *

As reported by the TCR on Dec. 29, 2020, S&P Global Ratings raised
its issuer credit rating on Community Health Systems Inc. to 'CCC+'
from 'SD' (selective default).  S&P said, "The stable outlook
reflects our view that the company has reduced its debt, and
improved its operations and cash flow such that its debt is now
more manageable; however, we believe risks to the long-term
sustainability of the capital structure remain, especially given
ongoing uncertainty stemming from the coronavirus pandemic."

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


CRESTLLOYD LLC: Files for Chapter 11 to Stop "The One" Auction
--------------------------------------------------------------
Laurence Darmiento of the Los Angeles Times reports that the
developer of "The One" mega-mansion filed for bankruptcy protection
Tuesday, October 26, 2021, in a last-minute bid to stop a scheduled
auction of the sprawling estate.

Nile Niami's limited liability company, Crestlloyd, filed for
Chapter 11 protection shortly after noon in U.S. Bankruptcy Court
in Los Angeles.

Lawrence Perkins, newly appointed manager of the development
company, said the action comes with an automatic stay of the
trustee's sale, scheduled for Wednesday, and other collection
activities against Crestlloyd.

"Our goal is to maximize the value of the house through a
thoughtful sales process where we can bring in brokers and show the
house to all the right people that need to see it," said Perkins,
of Sierra Constellation Partners, a turnaround firm.

The 105,000-square-foot Bel-Air property is the largest modern home
in the United States and the most extravagant property yet by
Niami, known as the king of the L.A. mega-mansion.

The trustee's sale of the home once marketed for $500 million was
scheduled after Crestlloyd defaulted on $106 million due to Hankey
Capital, the real estate lending arm of L.A. billionaire Don
Hankey.

The auction in Pomona Civic Center Plaza has already been delayed
twice, most recently Oct. 13, 2021 after another lender -- Joseph
Englanoff's Yogi Securities Holdings -- alleged that Hankey pulled
out of a deal to have the house completed and listed by real estate
brokers for $225 million.

C. Kerry Fields, a professor of clinical finance and business
economics at USC's Marshall School of Business, said the bankruptcy
filing was the only legal maneuver Niami had to stop the auction.

"The Bankruptcy Court [can] make a decision as to whose position
will prevail by allowing the trustee sale to either proceed or to
be stayed pending the resolution of some issues that the developer
may want to present to the court," he said.

He also said the judge could have the house sold through the
Bankruptcy Court in a way that would be superior to a trustee's
sale.  Such auctions typically leave little to nothing for junior
lienholders such as Yogi, experts say.

Englanoff, a Los Angeles-area physician and longtime investor in
Niami's developments, accused Hankey of trying to take ownership of
the mansion at a rock-bottom price or take all the proceeds if it
was sold.

Yogi lent Crestlloyd $30.2 million in 2018 and is still owed $22
million, according to an earlier declaration Englanhoff filed in
support of a temporary restraining order to halt the auction.
Hankey lent Crestlloyd $82.5 million in 2018 and $23.5 million in
two additional loans.  Englanloff says his debt should be paid
prior to Hankey's later loans.

Los Angeles County Superior Court Judge Mitchell Beckloff did not
issue the temporary restraining order but delayed the auction until
Oct. 27 to give the two sides time to work out a deal.

Hankey told The Times he had tried but failed to come to an
agreement with Englanoff. Attorneys for Hankey Capital said the
company's actions were legal and noted there is nothing preventing
Yogi from bidding for the house itself.

The other major secured debt holder is an entity called Inferno
Investment, associated with Julien Remillard, a longtime friend of
Niami, which lent Crestlloyd more than $10 million in 2015 but
worked out a deal with Hankey to be paid second out of the sale
proceeds.

There is smaller unsecured debt attached to the property, including
several million dollars owed to contractors and others, according
to the filing. The total debt attached to The One has been
estimated at $165 million.

In the spring, after Niami defaulted on his debt to Hankey, he
proposed living in The One and turning it into an event space
featuring entertainment such as boxing matches and concerts.
Hankey was not interested in the plan.

The mansion at 944 Airole Way features luxurious amenities such as
infinity pools, a spa and beauty salon, a billiard room and bowling
alley, a multiplex-size movie theater and a 50-car garage with
carousels to display exotic cars.

Hankey did not immediately respond to an email seeking comment on
the bankruptcy filing. An attorney representing Yogi also did not
respond to a call for comment.

The filing comes as a court-appointed receiver works to finish the
house, which was not completed at the time Crestlloyd lost control
of the property.

                       About Crestlloyd LLC

Crestlloyd LLC is a real estate company owned by developer Nile
Niami.

Crestlloyd LLC sought Chapter 11 protection (Bankr. C.D. Cal. Case
No. 21- 18205) on Oct. 26, 2021.  In its petition, Crestlloyd LLC
estimated assets and liabilities of between $100 million and $500
million.  The case is handled by Honorable Judge Deborah J.
Saltzman.  Levene, Neale, Bender, Yoo & Golubchik L.L.P., led by
David B Golubchik and Todd M Arnold, is serving as the Debtor's
counsel.


CRYPTO COMPANY: Subsidiary Forges New Relationship With Hired
-------------------------------------------------------------
The Crypto Company's wholly owned subsidiary, Blockchain Training
Alliance, has partnered with Hired to supply candidates for
referral in the high-demand blockchain space.  Hired is a service
provider to industry leaders such as Instacart, Wayfair, Zendesk,
Postmates, Twitch, Capital One, and Peloton.

Demand for blockchain skills is a rapidly growing IT skill set, and
the Blockchain Training Alliance is a global leader in
instructor-led blockchain training and certifications.  It provides
relevant content, instruction, and certifications for blockchain
technology as the use of blockchain continues to grow in the
corporate world.

"We are thrilled to enter into this new agreement with Hired as it
solidifies our position with a major employment company," said Ron
Levy, CEO of The Crypto Company.  "Blockchain Training Alliance is
arguably the #1 blockchain training company in the world, and I
believe we are experiencing the largest migration of talent in
history into one industry and that industry is blockchain.  My team
is at the forefront of training that talent pool, so, it makes
perfect sense that we help source candidates to one of the leaders
of the talent marketplace."

                       About Crypto Company

Malibu, CA-based The Crypto Company -- www.thecryptocompany.com --
is in engaged in the business of providing consulting services and
education for distributed ledger technologies, for the building of
technological infrastructure, and enterprise blockchain technology
solutions.

Crypto Company reported a net loss of $2.82 million in 2020
following a net loss of $1.81 million in 2019.  As of June 30,
2021, the Company had $1.87 million in total assets, $2.46 million
in total liabilities, and a total stockholders' deficit of
$586,486.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 30, 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.


CYTODYN INC: Adjourns Annual Meeting to Nov. 24 Due to Lack Quorum
------------------------------------------------------------------
CytoDyn Inc. convened and then adjourned the 2021 Annual Meeting of
Shareholders without transacting any other business.  The Annual
Meeting was adjourned to be held virtually on Wednesday, Nov. 24,
2021 at 8:00 a.m. Pacific Time.  The adjournment provides the
company with additional time to solicit proxies from its
shareholders to achieve a quorum at the Annual Meeting.

The transaction of business at the Annual Meeting requires a quorum
of more than one-half of the outstanding shares of the company
entitled to vote, represented in person or by proxy.  Based on a
determination by the inspector of election, there was no quorum
present at the Annual Meeting.  The activist group led by Paul
Rosenbaum and Bruce Patterson failed to submit its proxies to the
inspector of election.  If the Activist Group had submitted their
proxies, the company believes there would have been a quorum at the
Annual Meeting.  The company believes that the Activist Group's
conduct is in violation of the federal securities laws and reserves
all rights related thereto.

The record date for the adjourned Annual Meeting remains the close
of business on Sept. 1, 2021.  Shareholders who have already voted
do not need to recast their votes unless they wish to change their
votes. Proxies previously submitted will be voted at the reconvened
meeting unless properly revoked.  Shareholders who have not already
voted or wish to change their vote are encouraged to do so promptly
using the instructions provided in their voting instruction form or
proxy card.

The company urges all shareholders to vote their shares immediately
on the company's BLUE proxy card upon receipt of proxy material to
ensure their votes count in time for the new Annual Meeting date.
If you have any questions or require any assistance in voting your
shares, please contact its proxy solicitor:

Morrow Sodali LLC

Stockholders Call Toll Free: (800) 662-5200
Banks, Brokers, Trustees and Other Nominees Call Collect: (203)
658-9400
Email: cydy@info.morrowsodali.com

                        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 Aug. 31, 2021, the Company had
$104.97 million in total assets, $130.16 million in total
liabilities, and a total stockholders' deficit of $25.19 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.


DELCATH SYSTEMS: Christine Padula to Quit as Interim PAO
--------------------------------------------------------
Christine Padula informed Delcath Systems, Inc. of her intention to
resign as interim principal accounting officer of the company,
effective Nov. 15, 2021, to pursue a new opportunity.  

Delcath  said Ms. Padula's resignation was not because of any
disagreement with the company on any matter relating to the
company's operations, policies or practices.  The company thanks
Ms. Padula for her contributions.  The Board of Directors of the
company has commenced a search for her replacement.

                       About Delcath Systems

Headquartered in New York, NY, Delcath Systems, Inc. --
http://www.delcath.com-- is an interventional oncology company
focused on the treatment of primary and metastatic liver cancers.
The Company's lead product candidate, Melphalan Hydrochloride for
Injection for use with the Delcath Hepatic Delivery System, or
Melphalan/HDS, is designed to administer high-dose chemotherapy to
the liver while controlling systemic exposure and associated side
effects.  In Europe, Melphalan/HDS is approved for sale under the
trade name Delcath CHEMOSAT Hepatic Delivery System for Melphalan.


Delcath Systems reported a net loss of $24.15 million for the year
ended Dec. 31, 2020, compared to a net loss of $8.88 for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $24.92
million in total assets, $9.76 million in total liabilities, and
$15.16 million in total stockholders' equity.

New York, NY-based Marcum LLP, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
31, 2021, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


EASTSIDE DISTILLING: Signs Joint Promotion Deal With Frito-Lay
--------------------------------------------------------------
Eastside Distilling, Inc. entered into a joint promotion agreement,
effective as of Oct. 22, 2021, with Frito-Lay North America, Inc.

The agreement contemplates a shared effort to promote both the
Lay's brand and the company's Eastside brand during a period that
will end on Jan. 31, 2022 unless extended by mutual agreement.

                     About Eastside Distilling

Headquartered in Portland, Oregon, Eastside Distilling, Inc. --
www.eastsidedistilling.com -- manufactures, acquires, blends,
bottles, imports, exports, markets, and sells a wide variety of
alcoholic beverages under recognized brands.

Eastside Distilling reported a net loss of $9.86 million for the
year ended Dec. 31, 2020, compared to a net loss of $16.91 million
for the year ended Dec. 31, 2019.  As of June 30, 2021, the Company
had $27.20 million in total assets, $18.52 million in total
liabilities, and $8.68 million in total stockholders' equity.


ECHO GLOBAL: Moody's Assigns First Time B2 Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Echo
Global Logistics, Inc., including a B2 Corporate Family Rating and
a B2-PD Probability of Default Rating. In addition, Moody's
assigned a B1 rating to Echo Global's proposed first lien credit
facilities, including a proposed $100 million revolving credit
facility and a $550 million term loan. The outlook is stable.

Proceeds from the first lien debt, along with $743 million of cash
equity, will be used to finance the $1.4 billion acquisition of the
company by affiliates of The Jordan Company, L.P.

Ratings assigned:

Echo Global Logistics, Inc.

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

Senior secured first lien revolving credit facility expiring 2026
at B1 (LGD3)

Senior secured first lien term loan due 2028 at B1 (LGD3)

The outlook is stable.

RATINGS RATIONALE

The B2 Corporate Family Rating is constrained by Moody's
expectation for aggressive financial policies and high financial
leverage over the next 12-18 months. Under new private equity
ownership, Moody's anticipate that Echo Global will complement its
historically organic growth strategy with acquisitions to add
capabilities given the very fragmented nature of the third-party
logistics ("3PL") market. Moody's expects Echo Global's adjusted
debt/EBITDA to moderate to around 5.5 times by the end of 2022,
down from approximately 6.9 times at June 30, 2021 on a pro forma
basis. The rating is further constrained by the company's low
margins (e.g., EBITDA margin below 4%) and ongoing investment
required in its technology platform which connects the company to
both clients (i.e., shippers) and suppliers (i.e., carriers).

The rating is supported by Echo Global's good scale and diversity
of customers and transportation providers within the 3PL market.
Moody's expects Echo Global's revenue to reach roughly $3.7 billion
by the end of 2022. Echo Global provides services for a broad range
of manufacturers, wholesalers, retailers, and other customers
through its relationships with 50,000 carriers. Moody's expects
that this scale and diversity will support gross organic revenue
growth of 5% per annum. Finally, Moody's expects Echo Global to
operate with good liquidity over the next 12-18 months.

The stable outlook reflects Moody's expectation that Echo Global
will operate with good scale and customer diversity, high financial
leverage, and positive free cash flow.

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

The ratings could be upgraded if Echo Logistics demonstrates
conservative financial policies while sustaining debt/EBITDA below
5.0 times and an operating margin approaching 5%. Maintaining
consistently positive free cash flow and achieving greater business
diversity could also result in an upgrade.

The ratings could be downgraded if operating performance weakens or
the company pursues large debt funded acquisitions or distributions
to shareholders. A downgrade could also occur if adjusted
debt/EBITDA is sustained in excess of 6.0 times.

As proposed, the new senior secured first lien facility is expected
to provide covenant flexibility that if utilized could negatively
impact creditors. The facility includes incremental debt capacity
up to the greater of 100% of closing date EBITDA and 1.00x trailing
twelve month EBITDA, plus available amount builder basket (greater
of 50% of closing date EBITDA and 50% of the cumulative
consolidated net income), unused capacity reallocated from the
general debt basket and the general restricted payment basket, plus
unlimited amounts so long as net first lien leverage does not
exceed 4.65 times (if pari passu secured to the first lien).
Amounts up to the greater of 100% of closing date EBITDA and 100%
of TTM consolidated EBITDA and amounts incurred in connection with
a permitted acquisition or other permitted investments may be
incurred with an earlier maturity date than the initial term loan.
There are no express "blocker" provisions which prohibit the
transfer of specified assets to unrestricted subsidiaries; such
transfers are permitted subject to carve-out capacity and other
conditions. Non-wholly-owned subsidiaries are not required to
provide guarantees; dividends or transfers resulting in partial
ownership of subsidiary guarantors could jeopardize guarantees,
with no explicit protective provisions limiting such guarantee
releases. There are no express protective provisions prohibiting an
up-tiering transaction. The proposed terms and the final terms of
the credit agreement may be materially different.

Echo Global is a provider of freight brokerage in the truckload and
less-than-truckload modes and managed transportation services.
Revenue was approximately $3.2 billion for the twelve months ended
June 30, 2021.

The principal methodology used in these ratings was Surface
Transportation and Logistics published in May 2019.


EVERYTHING BLOCKCHAIN: Promotes Eric Jaffe to Board of Directors
----------------------------------------------------------------
Everything Blockchain, Inc. has added Eric Jaffe to the Board of
Directors to replace the recently vacated position due to the
resignation of Paul Rosenberg.  The change in Board leadership has
no effect on the board requirements for an up listing to NASDAQ or
the New York Stock Exchange.

The company filled the new positions through unanimous approval of
the Board of Directors and a majority of its shareholders.  Eric
Jaffe, Everything Blockchain's chief executive officer, accepted
the position on the Board of Directors.

Mr. Jaffe while continuing to serve as the company's chief
executive officer, will bring a wealth and expertise and provide a
direct link between management and the Board of Directors.  Eric is
an industry leading technology professional.  His experience has
focused on the manufacturing, legal, non-profit, blockchain and
technology industries.  He has grown companies from start-up to
successful acquisition that have grown into national leaders in
their space.  He orchestrated 11 technology company acquisitions
merging into one company which continues to be on the forefront of
emerging technologies.  He was an early adopter of Bitcoin and
blockchain having championed it and created companies around it
since 2015.  He is a graduate of Florida International University
with a degree in Business Management and carries multiple
technological certifications.

Michael Hawkins, Everything Blockchain's Chairman of the Board,
stated, "We have put together a very powerful and influential
senior management team of pioneers and industry trendsetters.  We
continue to advance our depth and leadership with outstanding and
influential global trendsetters in cyber security through zero
trust and Blockchain."

"I am honored to have received the invitation to join our company's
Board of Directors," said Eric Jaffe.  "With our recent
acquisitions and Fortune 500 clientele, I am confident Everything
Blockchain continue to fulfill and exceed its goals and
expectations."

                    About Everything Blockchain

Headquartered in Fleming Island, Florida, Everything Blockchain,
Inc. (fka OBITX, Inc.) is a developer, engineer, and consultant in
the industry of blockchain technologies.

OBITX reported net loss of $49.30 million for the year ended Jan.
31, 2021, compared to a net loss of $188,192 for the ear ended Jan.
31, 2020. As of July 31, 2021, the Company had $17.04 million in
total assets, $1.55 million in total liabilities, and $15.49
million in total stockholders' equity.

Tel Aviv, Israel-based Weinstein International CPA, the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated May 13, 2021, citing that as of Jan. 31, 2021, the
Company suffered losses from operations in all years since
inception and has a nominal working capital deficit.  These and
other factors raise substantial doubt about the Company's ability
to continue as a going concern.


GOLDEN FLEECE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Golden Fleece Beverages, Inc.
          d/b/a Argo Tea
        250 E Pearson Street #1601
        Chicago, IL 60611

Business Description: Golden Fleece Beverages, Inc. is engaged in
                      the beverage manufacturing business.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 21-12228

Judge: Hon. David D. Cleary

Debtor's Counsel: Jonathan P. Friedland, Esq.
                  SUGAR FELSENTHAL GRAIS & HELSINGER LLP
                  30 N. LaSalle St.
                  Suite 3000
                  Chicago, IL 60602
                  Tel: (312) 704-9400
                  Email: jfriedland@sfgh.com

Total Assets as of Sept. 30, 2021: $2,489,378

Total Liabilities as of Sept. 30, 2021: $1,658,654

The petition was signed by Candace MacLeod as president.

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

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

https://www.pacermonitor.com/view/WVOEJDY/Golden_Fleece_Beverages_Inc__ilnbke-21-12228__0001.0.pdf?mcid=tGE4TAMA


GORHAM PAPER: Okayed to Solicit Chapter 11 Plan Votes
-----------------------------------------------------
Alex Wolf of Bloomberg Law reports that paper product manufacturer
Gorham Paper & Tissue LLC won court approval to solicit creditor
votes on its plan to wind down in bankruptcy.

The plan would pay general unsecured creditors between 2% and 5% of
their $7 million in estimated claims, according to disclosures
approved Wednesday by Judge Karen B. Owens of the U.S. Bankruptcy
Court for the District of Delaware.

Gorham, owned by Lynn Tilton's Zohar III Corp., submitted its
Chapter 11 liquidation plan after selling its assets to Behrens
Investment Group last 2020.

                  About Gorham Paper and Tissue

Founded in 2011, Gorham Paper and Tissue LLC --
http://www.gorhampt.com/-- operates a paper mill and manufactures
customized tissues, towels and specialty packagings. It is
headquartered in Gorham, N.H.

Gorham Paper and Tissue and affiliate White Mountain Tissue, LLC,
sought Chapter 11 protection (Bankr. D.N.H. Lead Case No. 20 12814
and 20-12815) on Nov. 4, 2020. Gorham Paper was estimated to have
assets of $1 million to $10 million and liabilities of $50 million
to $100 million.

Judge Karen B. Owens oversees the cases.

The Debtors tapped Bernstein, Shur, Sawyer & Nelson, P.A. as
bankruptcy counsel, Polsinelli PC as local counsel, and B. Riley
Securities as investment banker.  Donlin Recano & Company, Inc. is
the claims and noticing agent and administrative advisor.

On Nov. 10, 2020, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors. Reed Smith serves as the
committee's legal counsel.




GPSPRO LLC: Unsecureds' Recovery Lowered to 33% in Plan
-------------------------------------------------------
GPSPRO, LLC is a Wyoming limited liability company, submitted an
Amended Plan of Reorganization.

The Plan proponent's financial projections show that the Debtor
will have projected disposable income of $155,432.58. The final
Plan payment is expected to be paid under this thirty-six-month
Plan in January 2025 or such other date approved by the Bankruptcy
Court after notice and a hearing.

This Plan of Reorganization proposes to pay creditors of Debtor
GPSPRO from the surplus cash flow to be generated by GPSPRO during
the thirty-six-month life of the Plan.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 33 cents on the dollar (assuming an estimated
$460,000 of allowed general unsecured claims, and a $155,432.58
total distribution to that class; provided, however, these numbers
may change given the final amount of Allowed general unsecured
claims and other factors and is only an estimate). This Plan also
provides for the payment of administrative and priority claims.

Class 3 consists of Non-priority unsecured creditors. After payment
of all unclassified claims and Class 1 and Class 2 claims, each
holder of an Allowed Class 3 unsecured claim shall participate pro
rata with each other holder of an Allowed unsecured claim and shall
receive, its pro rata share of quarterly disposable income of the
Debtors after payments of unclassified claims and Class 1 and Class
2 claims. Creditors in Class 3 are Impaired under this Plan.

This Plan will be funded with the disposable income of the Debtor.
To the extent any claim is a secured claim, Debtors may surrender
collateral to the secured creditor, in Debtor's discretion.
Projections of disposable income over the thirty-six-month life of
the Plan are attached as Exhibit 3.

A full-text copy of the Amended Plan of Reorganization dated
October 22, 2021, is available at https://bit.ly/3Gz7qDN from
PacerMonitor.com at no charge.

Counsel for the Debtor:

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

                         About GPSPRO LLC

GPSPRO, LLC, is a Wyoming limited liability company that develops
and provides GPS tracking, dispatching software and telematics
devices for the management of fleet vehicles.

GPSPRO, LLC, filed a Chapter 11 bankruptcy petition (Bankr. D. Nev.
Case No. 21-13055) on June 16, 2021, disclosing total assets of up
to $50,000 and total liabilities of up to $1 million. The Debtor is
represented by Garman Turner Gordon, LLP.


HAWAIIAN HOLDINGS: Posts $14.7 Million Net Income in Third Quarter
------------------------------------------------------------------
Hawaiian Holdings Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $14.67 million on $508.85 million of total operating revenue for
the three months ended Sept. 30, 2021, compared to a net loss of
$97.10 million on $75.98 million of total operating revenue for the
three months ended Sept. 30, 2020.

For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $52.20 million on $1.10 billion of total operating
revenue compared to a net loss of $348.38 million on $695.13
million of total operating revenue for the same period during the
prior year.

As of Sept. 30, 2021, the Company had $4.97 billion in total
assets, $1.23 billion in total current liabilities, $1.85 billion
in long-term debt, $1.26 billion in total other liabilities and
deferred credits, and $627.64 million in total shareholders'
equity.

"While our third quarter results were affected by the resurgence of
COVID-19 cases associated with the Delta variant, momentum had
moved in a positive direction by the end of the quarter, and we
remain absolutely confident in our long-term prospects as leisure
travel recovers globally," said Peter Ingram, Hawaiian Airlines
president and CEO.  "Throughout this year of recovery the
outstanding contributions of my colleagues have remained constant,
and I am honored to be a part of this resilient team."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1172222/000117222221000101/ha-20210930.htm

                      About Hawaiian Holdings

Hawaiian Holdings, Inc.'s primary asset is sole ownership of all
issued and outstanding shares of common stock of Hawaiian Airlines,
Inc.  The Company is engaged in the scheduled air transportation of
passengers and cargo amongst the Hawaiian Islands (the Neighbor
Island routes) and between the Hawaiian Islands and certain cities
in the United States (the North America routes together with the
Neighbor Island routes, the Domestic routes), and between the
Hawaiian Islands and the South Pacific, Australia, New Zealand and
Asia (the International routes), collectively referred to as its
Scheduled Operations.

Hawaiian Holdings reported a net loss of $510.93 million for the
year ended Dec. 31, 2020, compared to net income of $223.98 million
for the year ended Dec. 31, 2019.  As of June 30, 2021, the Company
had $5.22 billion in total assets, $1.44 billion in total current
liabilities, $1.89 billion in long-term debt, $1.28 billion in
total other liabilities and deferred credits, and $610.47 million
in total shareholders' equity.

                             *   *   *

As reported by the TCR on April 12, 2021, S&P Global Ratings
revised its ratings outlook to positive from negative and affirmed
its 'CCC+' issuer credit rating on Hawaiian Holdings Inc. (parent
of Hawaiian Airlines).  S&P said, "The positive outlook indicates
that we could raise our ratings on Hawaiian if we see sustained
improvements in traffic resulting in funds from operations (FFO) to
debt improving to at least the mid-single-digit-percent area in
2022 and further in 2023, with the company also continuing to
maintain adequate liquidity."


HERALD HOTEL: $1.8M Unsecured Claims to be Paid in Full in Plan
---------------------------------------------------------------
Herald Hotel Associates, L.P., submitted a Second Amended
Disclosure Statement to accompany Second Amended Plan of
Reorganization.

The Plan incorporates and is predicated upon the closing of a
transaction set forth in the Membership Interest Purchase Agreement
dated July 19, 2021 as amended by a certain Reinstatement and
Second Amendment to Membership Interest Purchase Agreement dated
September 15, 2021, and a certain Third Amendment to Membership
Interest Purchase Agreement dated October 20, 2021, between the
Debtor's Equity Interest Holders and Purchaser, an entity owned
and/or controlled by Burnett, a private equity group based in
Oklahoma, whereby except as otherwise provided: (i) all Allowed
Claims and Disputed Claims and the Debtor's interest in all of its
assets, including the Ground Lease and the Retail Leases and all
other personal property and FF&E necessary to operate the Hotel to
the extent provided in the Membership Interest Purchase Agreement,
as amended, shall be assumed by and assigned to a newly-formed
limited liability company, WDCO Martinique (which will initially be
wholly owned by the Debtor) which will then own and operate the
Hotel; (ii) the Debtor will then assign all of its membership
interests in WDCO Martinique to Debtor's Equity Interest Holders;
(iii) Purchaser will make a capital contribution to WDCO Martinique
to acquire a membership interest in WDCO Martinique; and (iv)
Purchaser will purchase all of Debtor's Equity Interest Holders'
membership interests in WDCO Martinique.

The total purchase price is $55.5 million of which $4 million has
already been deposited and shall be offset against the amount due
to the Debtor's Equity Interest Holders under clause (iv).

The net cash consideration received by WDCO Martinique as a capital
contribution by Purchaser from closing the Membership Interest
Purchase Agreement will be utilized to fund the Plan which provides
for the full payment plus interest of all Allowed Claims, including
all Secured Claims, Unsecured Claims, Priority Tax Claims, or
Priority Claims. The net cash consideration received by the
Debtor's Equity Interest Holders from the sale of their membership
interests in WDCO Martinique from closing the Membership Interest
Purchase Agreement will also be utilized to fund the Disputed
Claims Reserves and to satisfy any Disputed Claims when and if such
Disputed Claims become Allowed Claims.

Pursuant to the Plan and the Membership Interest Purchase
Agreement, the Ground Lease is being amended by a Seventh Amendment
and assumed and assigned from the Debtor to WDCO Martinique.

Class 4 consists of the Claims of the Debtor's non-Union employees
for vacation, sick pay, PTO and the like. Approximately 30 proofs
of claim have been filed by the Debtor's non-Union employees. These
Claims total approximately $625,000. Class 4 is not impaired as all
Allowed Class 4 Claims will be paid in full plus 3% interest from
the Petition Date on the Effective Date from the Sale Proceeds.

Class 5 consists of the holders of General Unsecured Claims. These
Claims include trade Creditors as well as Claims asserted by the
Debtor's general contractor and other construction trades
notwithstanding the filing of a mechanic's lien. The Debtor
estimates a total amount of Allowed Class 5 Claims will be
approximately $1,800,000. Class 5 is not impaired as all Allowed
Class 5 Claims will be paid in full on the latter of the Effective
Date or when such Claim becomes an Allowed Claim together with
simple interest at the rate of 3% from the Petition Date until the
Distribution Date. Class 5 Allowed Claims shall be paid from the
Sale Proceeds by the Disbursing Agent.

The Debtor's Equity Interest Holders have entered into the
Membership Interest Purchase Agreement. The total Purchase Price is
$55.5 million of which $4 million has been deposited and shall be
offset against the amount due to the Debtor's Equity Interest
Holders under clause (iv). The net cash consideration received by
WDCO Martinique as a capital contribution by Purchaser from closing
the Membership Interest Purchase Agreement will be utilized to fund
the Plan which provides for the full payment plus interest of all
Allowed Claims, including all Secured Claims, Unsecured Claims,
Priority Tax Claims, or Priority Claims, including the cure
payments to the landlord necessary to assume and assign the Ground
Lease to WDCO Martinique.

The net cash consideration received by the Debtor's Equity Interest
Holders from the sale of their membership interests in WDCO
Martinique from closing the Membership Interest Purchase Agreement
will be utilized to fund the Disputed Claims Reserves and to
satisfy any Disputed Claims when such Disputed Claims become
Allowed Claims.

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

Attorneys for the Debtor:
    
     Scott S. Markowitz, Esq.
     Alex Spizz, Esq.
     Rocco Cavaliere, Esq.
     Tarter Krinsky & Drogin LLP
     1350 Broadway, 11th Floor
     New York, NY 10018
     Telephone: (212) 216-8000
     Email: smarkowitz@tarterkrinsky.com
            aspizz@tarterkrinsky.com
            rcavaliere@tarterkrinsky.com

                    About Herald Hotel Associates

Herald Hotel Associates, L.P., is a New York limited partnership,
owns and operates a full-service hotel located on 32nd Street and
Broadway in Manhattan known as the Martinique New York on Broadway.
It filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 20 12266) on Sept. 22,
2020.

Judge Shelley C. Chapman oversees the case.

Tarter Krinsky & Drogin LLP serves as the Debtor's bankruptcy
counsel.  The Debtor also tapped Ellenoff Grossman & Schole LLP as
its special labor counsel, replacing Kane Kessler, PC.


IFRESH INC: Finalizing Delayed Financial Statements
---------------------------------------------------
iFresh Inc. previously disclosed in a Form 8-K dated July 21, 2021,
that it was working to restate its consolidated financial
statements for the three-, six-, and nine-month periods ended June
30, 2020, Sept. 30, 2020, and Dec. 31, 2020, respectively, as filed
with the U.S. Securities and Exchange Commission via Forms 10-Q on
Aug. 20, 2020, Nov. 23, 2020, and Feb. 22, 2021, respectively.

The errors previously determined to require restatement relate to
the company's acquisition of controlling interests in two separate
companies: (1) the RET Wine Company, and (2) Jiuxiang Blue Sky
Technology (Beijing) Co. Ltd, which transactions closed in April
2020 and August 2020, respectively.

As previously disclosed, on or about Jan. 12, 2021, the iFresh
shareholders who acquired shares through their sale of RET and
Jiuxiang to the company, acting in concert with another company
shareholder who obtained his shares through an earlier equity
investment, made an attempt to unseat members of the company's
current Board in order to effect a takeover of the company.  This
attempt is currently the subject of litigation in Delaware.

iFresh believes that the Jan. 12, 2021, takeover attempt and
litigation along with certain actions by the consent shareholders
may have interfered with the company's ability to exercise control
over the Subsidiaries, leading the Audit Committee to previously
determine that a restatement would be required.  Specifically, the
company's current board rested its determination on the fact that
none of the consent shareholders disclosed their collective
affiliations during the acquisitions of the Subsidiaries and,
accordingly, continues to believe the acquisitions of the
Subsidiaries may have been fraudulently induced.

However, since its July 21, 2021, 8-K filing, iFresh has consulted
with its Auditors and the SEC's Office of the Chief Accountant to
determine the proper manner and scope of any required adjustments
to the financial statements and to assess the necessity of
restatement.  Following consultations, the company has determined
that restatement of the financials is not appropriate because it
had indeed acquired "control" over the Subsidiaries as of the
closing of the transactions under GAAP rules.

iFresh believes it has made significant progress in its preparation
of the financial statements for the fiscal year ended March 31,
2021, and the quarter ended June 30, 2021, and it is working
diligently on the financial statements for the quarter ended Sept.
30, 2021.  The company is working with all due haste to finalize
the delayed financial statements to be filed with the SEC in
consultation with its auditors.

                         About iFresh Inc.

Headquartered in Long Island City, New York, iFresh Inc. --
http://www.ifreshmarket.com-- is an Asian American grocery
supermarket chain and online grocer on the east coast of U.S. With
nine retail supermarkets along the US eastern seaboard (with
additional stores in Glen Cove, Miami and Connecticut opening
soon), and two in-house wholesale businesses strategically located
in cities with a highly concentrated Asian population, iFresh aims
to satisfy the increasing demands of Asian Americans (whose
purchasing power has been growing rapidly) for fresh and culturally
unique produce, seafood and other groceries that are not found in
mainstream supermarkets. With an in-house proprietary delivery
network, online sales channel and strong relations with farms that
produce Chinese specialty vegetables and fruits, iFresh is able to
offer fresh, high-quality specialty produce at competitive prices
to a growing base of customers.

iFresh Inc. reported a net loss of $8.29 million for the year ended
March 31, 2020, compared to a net loss of $12 million for the year
ended March 31, 2019. As of Dec. 31, 2020, the Company had $131.62
million in total assets, $110.33 million in total liabilities, and
$21.29 million in total shareholders' equity.

Friedman LLP, in New York, the Company's auditor since 2016, issued
a "going concern" qualification in its report dated Aug. 13, 2020,
citing that the Company has incurred significant operating losses,
has negative working capital of $28.6 million and is not in
compliance with its credit agreement. These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


INTELSAT SA: Taps Egon Zehnder to Find New CEO After Chapter 11
---------------------------------------------------------------
Hunt Scanlon Media reports that Intelsat SA has announced that its
CEO, Stephen Spengler, will retire from the position after the
satellite network operator emerges from its financial restructuring
process.

The company has tapped executive recruiters Egon Zehnder to lead
the search process for a new chief executive.

"We are nearing the conclusion of our restructuring with enhanced
financial strength and are ideally positioned to embark on an
exciting new business strategy for the next generation of 5G
network connectivity," Mr. Spengler said. "This is the right moment
to make my retirement plans clear so that work can begin on
identifying a new leader for the long term."

In May 2020, Intelsat filed for voluntary Chapter 11 bankruptcy,
stating it will undertake financial restructuring. The bankruptcy
court overseeing Intelsat's Chapter 11 proceedings has pushed back
the confirmation for its reorganization plan to Dec. 2. 2021. As
the foundational architects of satellite technology, Intelsat
operates the world's most trusted satellite telecom network. The
company applies expertise and global scale to connect people,
businesses, and communities. Intelsat offers the world’s first
hybrid, multi-orbit, software-defined 5G network designed for
"simple, seamless and secure coverage."

                        About Intelsat S.A.

Intelsat S.A. -- http://www.intelsat.com/-- is a publicly held
operator of satellite services businesses, which provides a diverse
array of communications services to a wide variety of clients,
including media companies, telecommunication operators, internet
service providers, and data networking service providers.  It is
also a provider of commercial satellite communication services to
the U.S.  government and other select military organizations and
their contractors. The company's administrative headquarters are in
McLean, Virginia, and the Company has extensive operations spanning
across the United States, Europe, South America, Africa, the Middle
East, and Asia.

Intelsat S.A. and its debtor-affiliates concurrently filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Va. Lead Case No. 20-32299) on May 13, 2020. The
petitions were signed by David Tolley, executive vice president,
chief financial officer, and co-chief restructuring officer. At the
time of the filing, the Debtors disclosed total assets of
$11,651,558,000 and total liabilities of $16,805,844,000 as of
April 1, 2020.

Judge Keith L. Phillips oversees the cases.

The Debtors tapped Kirkland & Ellis LLP and Kutak Rock LLP as legal
counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; PJT Partners LP as financial advisor & investment banker;
Deloitte LLP as tax advisor; and Deloitte Financial Advisory
Services LLP as fresh start accounting services provider. Stretto
is the claims and noticing agent.

The U.S. Trustee for Region 4 appointed an official committee of
unsecured creditors on May 27, 2020. The committee tapped Milbank
LLP and Hunton Andrews Kurth LLP as legal counsel; FTI Consulting,
Inc. as financial advisor; Moelis & Company LLC as investment
banker; Bonn Steichen & Partners as special counsel; and Prime
Clerk LLC as information agent.


INTERSTATE UNDERGROUND: Wins Cash Collateral Access
---------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Missouri,
Western Division, has authorized Interstate Underground Warehouse
and Industrial Park, Inc. to use cash collateral, on a final basis
in accordance with the budget, and provide adequate protection.

The Debtor requires the use of cash collateral to finance ordinary
course of business operations.

The prepetition secured parties that may have an interest in cash
collateral are Woodmen of the World Life Insurance Society and
Great Western Bank.

Woodmen's Claim as of the petition date is $2,269,303 -- principal
balance of $2,256,497 plus accrued interest as of July 1, 2021 of
$12,805 -- plus Woodmen's post-petition interest, costs, and
charges.

As adequate protection for the Debtor's use of cash collateral,
Woodmen is granted a valid, perfected replacement security interest
in and lien on all of the Collateral to the same extent, validity,
and priority of their respective pre-petition liens and only to the
extent any Cash Collateral is diminished post-petition together
with any proceeds thereof.

As further adequate protection, the Debtor will continue remitting
monthly mortgage payment in the amount of $41,123 to Woodmen.

A copy of the order is available at https://bit.ly/30ZAIet from
PacerMonitor.com.

              About Interstate Underground Warehouse
                     and Industrial Park, Inc.

Interstate Underground Warehouse and Industrial Park, Inc. sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
W.D. Mo. Case No. 21-40834) on July 1, 2021. In the petition signed
by Leslie Reeder, chief executive officer, the Debtor disclosed up
to $10 million in assets and up to $50 million in liabilities.

Pamela Putnam, Esq., at Armstrong Teasdale LLP is the Debtor's
counsel.

Judge Dennis R. Dow is assigned to the case.



ISLAND EMPLOYEE: Unsecureds to Get Share of Income for 3 Years
--------------------------------------------------------------
The Island Employee Cooperative, Inc., filed with the U.S.
Bankruptcy Court for the District of Maine a Plan of Reorganization
dated October 22, 2021.

IEC is an employee-owned cooperative formed under the laws of the
State of Maine. As an employee-owned cooperative, IEC has issued
both Class A and Class B shares. IEC is the sole stockholder of The
Galley, and IEC and The Galley share the same board membership.

As part of IEC and The Galley's pre-filing diligence and
preparation for the chapter 11 cases, they also negotiated and
entered into the RSA with NCB, CEI, and CFNE. Under the RSA, NCB,
CEI, and CFNE have agreed to provide exit financing in the form of
refinancing their Allowed Secured Claims, among other significant
benefits for IEC, The Galley, and their estates.

As a small business debtor proceeding under the Small Business
Reorganization Act, IEC seeks to reorganize through this Plan by
restructuring its debt obligations so that IEC will achieve
sufficient cash flow from business operations to satisfy
operational expenses, critical capital improvement projects, and
payment obligations under the Plan. IEC also is undergoing a
thorough operational review and improvement plan with Spinglass
Management Group, LLC as part of IEC's efforts toward exiting the
Chapter 11 Case as a financially viable and healthy company.

Class Nine shall consist of all Allowed Unsecured Claims against
IEC (unless separately classified), which shall include, but is not
limited to, all Allowed Claims of Seile and the SBA, and any
Allowed Claim held by the IRS against IEC arising under or relating
to the Affordable Care Act, including any Employer Shared
Responsibility Payment.

The Claims in Class Nine are impaired. IEC shall make 3 Pro Rata
payments of Projected Net Disposable Income to Holders of Allowed
Class Nine Claims, which such payments shall be made on or before
the following dates in the following amounts: (i) $14,662.00 paid
on or before January 31, 2023 (for Projected Net Disposable Income
in fiscal year 2022); (ii) $38,916.00 paid on or before January 31,
2024 (for Projected Net Disposable Income in fiscal year 2023); and
(iii) $54,221.00 on or before January 31, 2025 (for Projected Net
Disposable Income in fiscal year 2024). The Class Nine Claims shall
not accrue or be paid interest. The Holders of Claims in Class Nine
are entitled to vote on the Plan.

Class Ten shall consist of all Interests in IEC, which such
Interests are held by IEC's Class A and Class B members. The
Interests in Class Ten are unimpaired. The Holders of Interests in
Class Ten shall retain their Interests under this Plan. The Holders
of Interests in Class Ten are not entitled to vote on the Plan and
are deemed to accept the Plan.

The payments required under the Plan shall be made primarily from
the following sources: (a) cash on hand; (b) the proceeds generated
from the ongoing operation of IEC's businesses; (c) the proceeds of
any Causes of Action and Claims which IEC and/or the Estate have
brought and/or may elect to bring, including without limitation,
any proceeds of such Causes of Action; and (d) the proceeds of the
sale of the Assets. Plan obligations also shall be funded through
the exit financing, including as to the Consenting Lenders.

A full-text copy of the Plan of Reorganization dated October 22,
2021, is available at https://bit.ly/3mnbHSL from PacerMonitor.com
at no charge.

Counsel to The Island Employee Cooperative:

     Adam R. Prescott, Esq.
     Letson D. Boots, Esq
     BERNSTEIN SHUR SAWYER & NELSON, P.A.
     100 Middle Street, PO Box 9729
     Portland, Maine 04104
     Telephone: (207) 774-1200
     Facsimile: (207) 774-1127
     E-mail: aprescott@bernsteinshur.com
             lboots@bernsteinshur.com

             About The Island Employee Cooperative
  
The Island Employee Cooperative, Inc., d/b/a Burnt Cove Market, is
a Maine cooperative corporation created by the employees of Burnt
Cove Market, The Galley, and V&S Variety for the purpose of
purchasing the stores from Vern and Sandra Seile.  It filed a
Chapter 11 petition (Bankr. D. Me. Case No. 21-10253) on September
23, 2021.  In petition signed by Kristy Wiberg, president, the
Debtor disclosed $5,112,136 in total assets and $5,877,439 in total
liabilities as of August 28, 2021.

Judge Michael A. Fagone presides over the case.  

Bernstein Shur Sawyer & Nelson, P.A., is the Debtor's counsel.
Spinglass Management Group is the Debtor's financial advisor.

Tanya Sambatakos has been appointed as Subchapter V Trustee.


J.C. PENNEY CO: Appoints New CEO After Bankruptcy Exit
------------------------------------------------------
David Moin of WWD reports that J.C. Penney Co. Inc. has named Marc
Rosen, a former Levi Strauss and Walmart executive, as chief
executive officer, effective Nov. 1, 2021.

Penney's also named Stanley Shashoua, chief investment officer of
the Simon Property Group who has been serving as Penney's interim
CEO since January, executive chairman of the board of directors.

The Plano, Texas-based J.C. Penney Co. Inc. came close to
liquidation but was lifted out of bankruptcy in December 2020 by
the Simon Property Group and Brookfield Asset Management, which
acquired Penney's retail and operating assets.

Simon and Brookfield needed Penney's stores to continue to operate
to keep other leaseholders in the malls and help get potential
tenants to sign leases.  Penney's first-lien secured lenders, many
of whom also supplied its debtor-in-possession financing, took over
the property business that includes 160 real estate locations and
six distribution centers. A vast amount of debt was erased from
Penney's books through the transfer of ownership.

Shortly after Simon and Brookfield took over Penney's, the
retailer's CEO at the time, Jill Soltau, was replaced by Shashoua.

"Marc joins J.C. Penney following a year of focused work to
stabilize the business, improve financials and position the
retailer for long-term success," Shashoua said. "Working with the
phenomenal and dedicated J.C. Penney team as CEO has been immensely
rewarding, and I look forward to my next step as executive
chairman. Marc's significant e-commerce and retail experience makes
him the perfect fit to lead the next chapter of the company's
transformation as we work to better serve our customers."

Rosen, a 25-year veteran of brick-and-mortar and e-commerce, most
recently served as executive vice president and president of Levi
Strauss Americas, leading commercial operations for Levi's,
Dockers, Signature by Levi Strauss & Co. and Denizen brands across
all channels.

Earlier at Levi's, Rosen held executive roles overseeing the
direct-to-consumer business. He was responsible for leading the
company's global e-commerce and retail businesses, including 3,000
stores, resulting in what the company described as
"transformational growth." Prior to Levi's, Rosen spent 14 years at
Walmart Inc. in a variety of senior leadership functions,
ultimately serving as senior vice president of global e-commerce.
He began his career at Ernst & Young, providing strategic retail
advisory services.

Emphasizing that Penney's, which has 670 stores, has improved its
financial health, the company indicated current liquidity of $1.5
billion and said it plans to "continue building on the momentum
established this year." Penney's indicated several strategies
employed to help improve the business, including recently
introducing six new private brands, as well as relaunching some
private brands and adding some exclusive brands from the market.
Notable portfolio additions include Ryegrass, Linden Street,
Thereabouts, Stylus and Juicy by Juicy Couture.

Penney's has also rebuilt its beauty business, to replace the exit
of Sephora shops from Penney's stores. Ten "pilot" JCPenney Beauty
shops opened inside Penney's stores in mid-October, and the recast
beauty assortment debuted on jcp.com. Beginning in fall 2022,
Penney's will roll out the beauty shops to the rest of the 650-unit
department store chain. The project is expected to be completed
sometime in 2023.

Once Sephora ended its partnership with Penney's, only to form a
new one with Kohl's, a direct competitor, a new beauty strategy
urgently had to be developed. The competitive climate has been
compounded by Target, another competitor, forming a partnership
with Ulta. Both the Kohl’s-Sephora and Target-Ulta agreements
were disclosed in December 2020, at which time Penney’s disclosed
it had begun working on a new beauty scheme.

Soltau, working with Michelle Wlazlo, who continues as chief
merchant, had a strategy of differentiating and sharpening the
identity of key in-house labels, like St. John;s Bay, Xersion and
a.n.a. They also reset the women's selling floors with an
easier-to-shop, lifestyle format with enhanced visuals and more
thoughtful and obvious mannequin setups. What was a confusing sea
of racks and aura of "stuff" had been disappearing. The company
also closed scores of underperforming stores and eliminated several
merchandise programs, including appliances.

"I am humbled by the opportunity to lead this storied brand and
build on the progress the J.C. Penney team has made under their new
ownership group," Rosen said in a statement. "I have spent my
career focused on iconic American retailers and it has given me a
unique perspective on the value of heritage brands. Joining at this
milestone moment in the company's history, I am eager to propel the
business into its next era and connect with our customers in new
ways."

                       About J.C. Penney Co. Inc.

J.C. Penney Company, Inc. -- http://www.jcpenney.com/-- is an
apparel and home retailer, offering merchandise from an extensive
portfolio of private, exclusive, and national brands at over 850
stores and online. It sells clothing for women, men, juniors, kids,
and babies.

On May 15, 2020, J.C. Penney entered into a restructuring support
agreement with lenders holding 70% of its first lien debt. The RSA
contemplates agreed-upon terms for a pre-arranged financial
restructuring plan that is expected to reduce several billion
dollars of indebtedness.  

To implement the plan, J.C. Penney and its affiliates on May 15,
2020, filed voluntary petitions for reorganization under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
20-20182). At the time of the filing, J.C. Penney disclosed assets
of between $1 billion and $10 billion and liabilities of the same
range.

Judge David R. Jones oversaw the cases.

The Debtors tapped Kirkland & Ellis and Jackson Walker, LLP as
legal counsel; Katten Muchin Rosenman, LLP as special counsel;
Lazard Freres & Co. LLC as investment banker; AlixPartners, LLP as
restructuring advisor; and KPMG, LLP as tax consultant. Prime Clerk
is the claims agent, maintaining the page
http://cases.primeclerk.com/JCPenney          

The committee of unsecured creditors retained Cole Schotz, P.C.,
and Cooley, LLP.

                          *     *     *

J.C. Penney in November 2020 won approval to sell substantially all
of its retail and operating assets ("OpCo") to a group formed by
landlords Brookfield Asset Management, Inc. and Simon Property
Group and senior lenders through a combination of cash and new term
loan debt.  

Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal counsel,
and BRG Capital Advisors, LLC, served as financial adviser to Simon
and Brookfield.


JAHN LLC: Seeks Chapter 7 Case Dismissal
----------------------------------------
Alby Gallun of The Crain reports that less than three months after
filing for bankruptcy protection, a company owned by the late
architect Helmut Jahn has asked a judge to drop the case, saying it
has settled a rent dispute with its landlord that prompted the
filing.

The company, Jahn LLC, filed Aug. 13 to liquidate under Chapter 7
of the U.S. bankruptcy code.  The move raised questions about the
financial condition of Jahn's architecture practice after the
acclaimed designer's death in May.  It remains unclear six months
later who will step up as the firm's new design leader who can win
big commissions worthy of the Jahn name.

But the bankruptcy case turned out to be more of a legal maneuver
than a sign of major trouble at Jahn's business.  The company's
bankruptcy attorney insisted that Jahn LLC was a separate legal
entity from Jahn's architecture business, which is owned by a
different company, Jahn Architecture Inc. Jahn LLC held the lease
for the practice's space in the office building at 35 E. Wacker
Drive and filed for Chapter 7 protection to resolve the dispute
with the property's manager, DUS Management, the attorney, Joseph
Cohen, said in late August.

DUS has a $170,643 claim against Jahn LLC for unpaid rent,
according to bankruptcy filings. The company wanted to use the
Chapter 7 case to wipe out that obligation.

But Jahn LLC quickly faced questions about its relationship with
Jahn Architecture Inc., which wasn't included in the bankruptcy
filing. If the two companies were closely linked and Jahn
Architecture was solvent, the legal strategy wouldn't work: It
would be a stretch to argue that Jahn LLC didn’t have the money
to pay the rent.

At a September hearing, Bankruptcy Trustee David Leibowitz
questioned Jahn Architecture Chief Financial Officer Arthur
Herbstman about the two companies, revealing that they were more
integrated than court filings suggested. The disclosures—and
likelihood of more if the case dragged on—may have been enough
for Jahn to stop playing hardball with DUS and settle the rent
dispute.

"They may be two separate companies, but they really are acting as
a single entity in many ways," Leibowitz wrote in a text message.
"No need to dwell on it in that Jahn and the landlord have
settled."

It's unclear how much Jahn LLC will pay DUS; terms of the
settlement were not disclosed. The two parties have agreed to pay
Leibowitz $42,000 for his role in the case, with Jahn LLC paying
$12,500 and the landlord paying the rest, according to a motion to
dismiss the case filed in U.S. Bankruptcy Court in Chicago. Judge
Donald Cassling will review the proposal at a Nov. 2 hearing,
according to the filing.

Evan Jahn, Helmut Jahn's son and president of his architecture
practice, did not respond to a request for comment, not did an
attorney for Jahn LLC. A DUS executive and attorney representing
DUS also did not respond to requests for comment.

                        About Jahn LLC

Jahn LLC is an architectural services business in Chicago,
Illinos.

Jahn LLC sought Chapter 7 protection (Bankr. N.D. Ill. Case No.
21-09538)   on August 13, 2021.  In its petition, Crestlloyd LLC
estimated assets of between $100,001 and $1,000,000 and liabilities
between $1 million and $10 million.  The case is handled by
Honorable Judge Donald R. Cassing.  Joseph E Cohen, of Cohen &
Krol, is the Debtor's counsel.


KOSMOS ENERGY: Issues $400 Million 7.750% Senior Notes Due 2027
---------------------------------------------------------------
In connection with the previously announced private offering of
$400 million aggregate principal amount of 7.750% senior notes due
2027 to eligible purchasers, Kosmos Energy Ltd. issued such Notes
under the indenture dated Oct. 26, 2021 among the Company, the
guarantors named therein, Wilmington Trust, National Association,
as trustee, paying agent, transfer agent and registrar, and Banque
Internationale a Luxembourg S.A., as Luxembourg listing agent,
Luxembourg paying agent and Luxembourg transfer agent.

The Notes

The Notes mature on May 1, 2027.  Interest accrues at 7.750% per
annum from Oct. 26, 2021 and is payable semi-annually in arrears
each May 1 and November 1, commencing on May 1, 2022.  The Notes
are senior, unsecured obligations of the Company and rank equal in
right of payment with all of its existing and future senior
indebtedness (including all borrowings under the revolving credit
facility, its 7.125% Senior Notes due 2026 and its 7.500% Senior
Notes due 2028  and rank effectively junior in right of payment to
all of its existing and future secured indebtedness (including all
borrowings under the commercial debt facility and all borrowings
under the secured term loan.

The Notes are guaranteed on a senior, unsecured basis by certain
subsidiaries owning the Company's U.S. Gulf of Mexico assets and on
a subordinated, unsecured basis by certain of its subsidiaries that
borrow under, or guarantee, the Facility and, on a subordinated
basis, guarantee the Corporate Revolver and the Existing Notes.  In
addition, within ten business days following the completion of
customary "know your customer" and related procedures performed by
the lenders of the Corporate Revolver, the Company will use
commercially reasonable efforts to cause each of Kosmos Energy
Ghana Holdings Limited and Anadarko WCTP Company to guarantee the
Notes on a senior, unsecured basis.

Redemption and Repurchase

At any time prior to Nov. 1, 2023, and subject to certain
conditions, the Company may, on one or more occasions, redeem up to
40% of the original principal amount of the Notes with an amount
not to exceed the net cash proceeds of certain equity offerings at
a redemption price of 107.750% of the outstanding principal amount
of the Notes, together with accrued and unpaid interest and
premium, if any, to, but excluding, the date of redemption.
Additionally, at any time prior to Nov. 1, 2023 the Company may, on
any one or more occasions, redeem all or a part of the Notes at a
redemption price equal to 100%, plus any accrued and unpaid
interest, and plus a "make-whole" premium.

On or after Nov. 1, 2023, the Company may redeem all or a part of
the Notes at the redemption prices (expressed as percentages of
principal amount) set forth below plus accrued and unpaid
interest:

   Year Percentage
   2023 103.875%
   2024 101.938%
   2025 and thereafter 100.000%

Upon the occurrence of a "change of control triggering event" as
defined under the Indenture, the Company will be required to make
an offer to repurchase Notes at a repurchase price equal to 101% of
the outstanding principal amount, plus accrued and unpaid interest
to, but excluding, the date of repurchase.

If the Company sells assets, under certain circumstances outlined
in the Indenture, it will be required to use the net proceeds to
make an offer to purchase Notes at an offer price in cash in an
amount equal to 100% of the principal amount of the Notes, plus
accrued and unpaid interest to, but excluding, the repurchase
date.

Covenants

The Indenture restricts the ability of the Company and its
restricted subsidiaries to, among other things: incur or guarantee
additional indebtedness, create liens, pay dividends or make
distributions in respect of capital stock, purchase or redeem
capital stock, make investments or certain other restricted
payments, sell assets, enter into agreements that restrict the
ability of the Company's subsidiaries to make dividends or other
payments to the Company, enter into transactions with affiliates or
effect certain consolidations, mergers or amalgamations.  These
covenants are subject to a number of important qualifications and
exceptions.  Certain of these covenants will be terminated if the
Notes are assigned an investment grade rating by both Standard &
Poor’s Rating Services and Fitch Ratings Inc. and no default or
event of default has occurred and is continuing.

                        About Kosmos Energy

Kosmos is a full-cycle deepwater independent oil and gas
exploration and production company focused along the Atlantic
Margins.  The Company's key assets include production offshore
Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as a
world-class gas development offshore Mauritania and Senegal. The
Company also maintains a sustainable proven basin exploration
program in Equatorial Guinea, Ghana and the U.S. Gulf of Mexico.
Kosmos is listed on the NYSE and LSE and is traded under the ticker
symbol KOS.

Kosmos Energy reported a net loss of $411.58 million in 2020, a net
loss of $55.78 million in 2019, a net loss of $93.99 million in
2018, and a net loss of $222.79 million in 2017.  As of June 30,
2021, the Company had $4 billion in total assets, $645.29 million
in total current liabilities, $3.05 billion in total long-term
liabilities, and $307.24 million in total stockholders' equity.


LIVEONE INC: Incurs $15.2 Million Net Loss in Second Quarter
------------------------------------------------------------
LiveOne, Inc. reported a net loss of $15.24 million on $21.92
million of revenue for the three months ended Sept. 30, 2021,
compared to a net loss of $10.19 million on $14.56 million of
revenue for the three months ended Sept. 30, 2020.

For the six months ended Sept. 30, 2021, the Company reported a net
loss of $23.29 million on $60.69 million of revenue compared to a
net loss of $17.72 million on $25.07 million of revenue for the six
months ended Sept. 30, 2020.

As of Sept. 30, 2021, the Company had $89.58 million in total
assets, $86.96 million in total liabilities, and $2.62 million in
total stockholders' equity.

LiveOne's CEO and Chairman, Robert Ellin, commented, "With the
return of live music events, we expect an increase in revenue from
nearly every aspect of our flywheel -- subscriptions, live ticket
sales, live stream, pay-per-view, advertising, sponsorship, NFTs,
and specialty merchandise."

Mr. Ellin continued, "We continue to focus on the long-term
objective of building and owning sustainable, valuable franchises
in audio music, live music and events, podcasting/vodcasting, OTT,
pay-per-view and live streaming."

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

https://www.sec.gov/Archives/edgar/data/0001491419/000121390021055104/ea149260ex99-1_liveoneinc.htm

                           About LiveOne

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ:
LVO) (formerly known as LiveXLive Media, Inc.) is a global
talent-first, interactive music, sports, and entertainment
subscription platform delivering premium content and livestreams
from the world’s top artists.  LiveOne's other major wholly-owned
subsidiaries are LiveXLive, PPVOne, Slacker Radio, React Presents,
Gramophone Media, Custom Personalization Solutions, and
PodcastOne.

LiveXLive Media reported a net loss of $41.82 million for the year
ended March 31, 2021, compared to a net loss of $38.93 million for
the year ended March 31, 2020.  As of June 30, 2021, the Company
had $92.39 million in total assets, $85.87 million in total
liabilities, and $6.51 million in total stockholders' equity.

Los Angeles, California-based BDO USA, LLP, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated July 14, 2021, citing that the Company has suffered recurring
losses from operations, negative cash flows from operating
activities and has a net capital deficiency that raise substantial
doubt about its ability to continue as a going concern.


LUCKIN COFFEE: Reaches $175Mil. Settlement on Accounting Fraud
--------------------------------------------------------------
Jonathan Stempel of Reuters reports that Luckin Coffee Inc
shareholders asked a U.S. judge to approve a $175 million
settlement of class-action claims that the Chinese rival to
Starbucks fraudulently inflated its share price by falsifying
revenue.

Lawyers for the shareholders called the all-cash settlement filed
on Monday, October 25, 2021, night an "excellent result," citing
Luckin's liquidation proceeding in the Cayman Islands and its
related filing for protection under the U.S. Bankruptcy Code.

The accord also covers Luckin officials and underwriters of the
company's $645 million initial public offering in 2019 and a later
offering of American depositary shares.

Luckin denied wrongdoing in agreeing to settle.  

Founded in 2017, the Xiamen, China-based company ended March with
about 5,000 stores.

Shareholders sued Luckin in February 2020, two weeks after
short-seller Muddy Waters Research accused it of inflating
revenue.

Two months later, Luckin's share price sank 81% after the company
said an internal probe found that its chief operating officer and
other staff fabricated about $310 million of sales in 2019, or
about 40% of annual sales projected by analysts.

Luckin agreed last December to pay a $180 million fine to settle
U.S. Securities and Exchange Commission accounting fraud here civil
charges.

The SEC said Luckin raised more than $864 million from equity and
debt investors while the fraud was taking place.

October 25, 2021's settlement requires approval by U.S. District
Judge John Cronan in Manhattan, and by a Cayman Islands court.

The shareholders were led by Swedish pension fund Sjunde AP-Fonden
and the Louisiana Sheriffs' Pension & Relief Fund.

Their lawyers, led by Kessler Topaz Meltzer & Check and Bernstein
Litowitz Berger & Grossmann, may seek fees of up to 25% of the
settlement fund.

                       About Luckin Coffee

Luckin Coffee Inc., was a Xiamen, Fujian-based coffee chain.

In July 2020, Luckin Coffee called in liquidators to oversee a
corporate restructuring and negotiate with creditors to salvage its
business, less than four months after shocking the market with a
US$300 million accounting fraud, South China Morning Post said.

The Company hired Houlihan Lokey as financial advisers to implement
a workout with creditors. The start-up company also named Alexander
Lawson of Alvarez & Marsal Cayman Islands and Tiffany Wong Wing Sze
of Alvarez & Marsal Asia to act as "light-touch" joint provisional
liquidators (JPLs) under a Cayman Islands court order, it said in a
regulatory filing in New York.

The move was in response to a winding-up petition by an undisclosed
creditor.

The Joint Provisional Liquidators of Luckin Coffee, Alexander
Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze
Tiffany Wong of Alvarez & Marsal Asia Limited, on Feb. 5, 2021,
filed a verified petition under chapter 15 of title 11 of the
United States Code with the United States Bankruptcy Court for the
Southern District of New York. The Chapter 15 Petition seeks, among
other things, recognition in the United States of the Company's
provisional liquidation pending before the Grand Court of the
Cayman Islands, Financial Services Division, Cause No. 157 of 2020
(ASCJ) and related relief.


MAGELLAN HOME-GOODS: Unsecureds to Get $3.9K/Month for 120 Months
-----------------------------------------------------------------
Magellan Home-Goods, Ltd filed with the U.S. Bankruptcy Court for
the Western District of Washington a Plan of Reorganization dated
October 22, 2021.

Since 2003, and to the present, the Debtor has sold patented
kitchen appliances and other home goods, generally manufactured in
China, to re-sellers located in the United States.

Beginning in late 2019, due primarily to world economic conditions
associated with the Covid-19 pandemic, the Debtor suffered severe
supply chain interruptions resulting from the closure of Chinese
factories in early 2020. As the reduction in revenue continued
longer than anticipated, the Debtor continued to experience cash
flow issues. The Debtor filed this Chapter 11 to allow the Debtor
pay creditors in a fair and equitable manner.

The Plan will treat claims as follows:

     * Class 1 consists of the claim of First Savings Bank/SBA. The
secured claim of First Savings Bank/SBA with an approximate balance
of $860,000.00, as of the Petition Date, secured by personal
property of the Debtor as referenced in UCC File No. 2019-204-
1402-5 dated July 23, 2019 and by a personal guaranty and Deeds of
Trust on the personal residences of Andre D. Cloutier and Debra
Sasken-Duff will be paid ongoing contractual payments of principal
and interest beginning on November 5, 2021 and continuing on the
5th day of each month thereafter until the loan is paid in full.

     * Class 2 consists of the Secured Claim of First Savings
Bank/SBA (Torch). The secured claim of First Savings Bank/SBA
(Torch) with an approximate balance of $147,000.00, as of the
Petition Date, secured by personal property of the Debtor as
referenced in UCC File No. 2020-268-8469-8 dated, September 24,
2020 and by a personal guaranty and Deeds of Trust on the personal
residences of Andre D. Cloutier and Debra SaskenDuff will be paid
ongoing contractual payments of principal and interest beginning on
November 5, 2021 and continuing on the 5th day of each month
thereafter until the loan is paid in full.

     * Class 3 consists of the Secured claim of Fora Financial
Business Loans, LLC. The secured claim of Fora Financial Business
Loans, LLC with a balance of $240,209.23, as of the Petition Date,
secured by personal property of the Debtor as referenced in UCC
File No. (2021-067- 3164-6 dated March 8, 2021 and by a personal
guaranty will be paid monthly installments in the amount of
$1,000.00 beginning on March 5th 2022 through February 5, 2025 at
which time the outstanding principal balance on the loan will be
paid in full.

     * Claim 4 consists of the Secured Claim of Superior Freight.
The secured claim of Superior Freight in the amount of $9,174.15
will be paid in full, in the ordinary course of business, on or
before February 28, 2022 pursuant to the Bankruptcy Court order
entered on September 21, 2021.

     * Class 5 consists of the Secured Claim of ClearFreight, Inc.
The secured claim of Superior Freight, Inc. in the amount of
$108,646.61 will be paid in the sum of $57,933.99, in the ordinary
course of business, on or before December 31, 2021 pursuant to the
Bankruptcy Court order entered on September 21, 2021 with the
remainder of the claim paid in 24 equal monthly installments of
$2,113.03 beginning on the 5th day of the next month following
confirmation with interest to accrue at the Federal Judgment Rate
as of the Petition Date.

     * Class 6 consists of the Secured Claim of Bank America, NA.
The Debtor asserts that the debt secured by the UCC-1 Filing No.
2009-238 2505-0, dated August 26, 2009 as amended by 2014-062-666-7
dated March 3, 2014 (Continuation) has been paid in full and will
not be paid pursuant to the terms of this Plan.

     * Class 7 consists of General unsecured claims. Each holder of
an allowed general unsecured claim will be paid in equal monthly
installments of $3,865,00 over 120 months beginning June 5, 2022 or
until paid in full with available funds. Interest to accrue at the
Federal Judgment Rate.

It is anticipated that with the strategic changes to the Debtor's
business model, the Debtor's fixed expenses will remain relatively
constant moving forward as sales increase as the supply chain
stabilizes.

The Plan will be funded with revenue from liquidation of inventory
in the regular course of business, the continued sale of items
shipped directly to customers by the factories in China and from
licensing royalties received from Licensee Tristar from the sale of
the Chicken and Turkey Roasters and from royalties received
pursuant to other anticipated licensing agreements. Attached are
Debtor's projected Income and Expenses from January 2022 through
December 2026.

During the Plan term, the Debtor will actively market for sale the
Zippy Pop and Grillville Brands and related intellectual property
with the intent of selling the same within 6 months of
confirmation. If the sale materializes, the funds will be used to
pay claims secured by the intellectual property. On or before
January 31, 2022, the Debtor will retain the services of a
qualified intellectual property appraiser to opine as to the value
of the Brands to ascertain the highest and best value in the event
of sale.

A full-text copy of the Plan of Reorganization dated October 22,
2021, is available at https://bit.ly/3EqQxcQ from PacerMonitor.com
at no charge.  

Debtor's Counsel:

     Thomas D. Neeleman, Esq.
     Neeleman Law Group
     1403 8th Street
     Marysville, WA 98270
     Tel: (425) 212-4800
     Fax: (425) 212-4802
     Email: courtmail@expresslaw.com

                     About Magellan Home-Goods

Magellan Home-Goods Ltd, doing business as Magellan Home Goods,
sells patented home goods and small appliances manufactured
offshore to retail consumers in the United States.  The company is
based in Blaine, Wash.

Magellan Home-Goods sought protection under Subchapter V of Chapter
11 of the Bankruptcy Code (Bankr. W.D. Wash. Case No. 21-11413) on
July 24, 2021, listing $2,324,758 in total assets and $2,063,752 in
total liabilities. Judge Marc Barreca oversees the case while
Geoffrey Groshong is the Subchapter V trustee appointed in the
case.

The Debtor tapped Neeleman Law Group, PC as legal counsel and
Northstar Tax & Accounting as accountant.


MARA DAY SPA: Case Summary & 14 Unsecured Creditors
---------------------------------------------------
Debtor: Mara Day Spa, LLC
           d/b/a Mara's Med Spa
        2222 McKiney Ave., Ste. 120
        Dallas, TX 75201

Business Description: Mara Day Spa, LLC is a privately owned
                      company that operates a med spa in Dallas,
                      Texas.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 21-31928

Debtor's Counsel: Mark A. Castillo, Esq.
                  CURTIS | CASTILLO PC
                  901 Main Street
                  Suite 6515
                  Dallas, TX 75202
                  Tel: 214-752-2222
                  Email: mcastillo@curtislaw.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ledimara Pinney as president.

A copy of the Debtor's list of 14 unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/FNJSLXQ/Mara_Day_Spa_LLC__txnbke-21-31928__0004.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/OJTJQ5I/Mara_Day_Spa_LLC__txnbke-21-31928__0001.0.pdf?mcid=tGE4TAMA


MID ATLANTIC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Mid Atlantic Printers, LTD.
          TA Mid Atlantic Printers
        503 3rd Street
        Altavista, VA 24517        

Business Description: Mid Atlantic Printers, LTD. is a full
                      service commercial sheetfed printer, with
                      two production facilities and multiple sales

                      offices.  The Company offers commercial
                      printing services that range from
                      promotional materials, flyers, saddle
                      stitch, binding and more.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Western District of Virginia

Case No.: 21-61173

Debtor's Counsel: Andrew S. Goldstein, Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, P.C.
                  Post Office Box 404
                  Roanoke, VA 24003-0404
                  Tel: (540) 343-9800
                  Fax: (540) 343-9898
                  Email: agoldstein@mglspc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Nancy Edwards as president.

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

https://www.pacermonitor.com/view/JP5Q7WQ/Mid_Atlantic_Printers_LTD__vawbke-21-61173__0005.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/3PIYQVA/Mid_Atlantic_Printers_LTD__vawbke-21-61173__0001.0.pdf?mcid=tGE4TAMA


MIND TECHNOLOGY: Designates 500K Shares as Series A Preferred Stock
-------------------------------------------------------------------
MIND Technology, Inc. filed a Second Certificate of Amendment of
Certificate of Designations, Preferences and Rights of 9.00% Series
A Cumulative Preferred Stock with the Secretary of State of the
State of Delaware to designate an additional 500,000 shares of the
company's authorized, but unissued, shares of Preferred Stock as
9.00% Series A Cumulative Preferred Stock, par value $1.00 per
share, for an aggregate of 1,994,046 shares of Series A Preferred
Stock, with the rights, preferences, privileges, qualifications,
restrictions and limitations set forth in the Certificate of
Designations.

                       About Mind Technology

Mind Technology, Inc. -- http://mind-technology.com-- provides
technology and solutions for exploration, survey and defense
applications in oceanographic, hydrographic, defense, seismic and
security industries.  Headquartered in The Woodlands, Texas, MIND
Technology has a global presence with key operating locations in
the United States, Singapore, Malaysia and the United Kingdom.  Its
Klein and Seamap units design, manufacture and sell specialized,
high performance sonar and seismic equipment.

Mind Technology reported a net loss of $20.31 million for the year
ended Jan. 31, 2021, compared to a net loss of $11.29 million for
the year ended Jan. 31, 2020.  As of April 30, 2021, the Company
had $35.52 million in total assets, $8.95 million in total
liabilities, and $26.57 million in total stockholders' equity.

Houston, Texas-based Moss Adams LLP, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
April 16, 2021, citing that "The Company has a history of losses
and has had negative cash flows from operating activities in the
last two years.  The Company may not have access to sources of
capital that were available in prior periods.  In addition, the
COVID-19 pandemic and the decline in oil prices during fiscal 2021
caused a disruption to the Company's business and delays in some
orders.  Currently management's forecasts and related assumptions
support their assertion that they have the ability to meet their
obligations as they become due through the management of
expenditures and, if necessary, accessing additional funding from
the at-the-market program or other equity financing.  Should there
be constraints on the ability to access capital under the
at-the-market program or other equity financing, the Company has
asserted that it can manage cash outflows to meet the obligations
through reductions in capital expenditures and other operating
expenditures."


MODELL'S SPORTING: Flushing, NY Store Sold for $67 Million
----------------------------------------------------------
Real Estate Weekly reports that a team from Highcap Group has sold
a Flushing, New York retail property on behalf of bankrupt Modell's
for $67 million.

Charles Chang, associate broker alongside co-founders, Christen
Portelli and Josh Goldflam brokered the off-market sale of 39-12 to
39-18 Main Street aka 135-33 Roosevelt Avenue on the busy shopping
street occupied by local supermarkets, bakeries and national
retailers, including Starbucks, Burger King and Citibank.

"Main Street rarely has any building trades due to the strong and
consistent retail presence with high rents. This opportunity
allowed for a new tenant to enter into the vibrant and sought-after
shopping district," said Chang, noting that the sale price achieved
a record $2,400 psf.

The 27,000 s/f property is one-and-a-half stories, L-shaped with 64
ft. of frontage on Main Street and 75 ft. on Roosevelt Avenue.
Modell's owned and occupied much of the property for nearly two
decades, with the Bank of America as a co-tenant.

America's oldest sporting goods retailer, Modell's ran into trouble
just ahead of the pandemic after week holiday sales drove it
further into debt. In February 2020, president and CEO Mitchell
Modell tried to stave off bankruptcy by personally investing $6.7
million.

However, by March the family-owned retail chain was forced to file
for Chapter 11 bankruptcy protection and announced it would be
closing all 153 of its stores which employed 3,600 workers in New
York, New Jersey, Pennsylvania, Connecticut, Rhode Island,
Massachusetts, New Hampshire, Delaware, Maryland, Virginia, and
Washington, D.C..

Modell's partnered with Tiger Capital Group to liquidate the stores
and Robert Duffy, Managing Director, BRG, was named Chief
Restructuring Officer of the Company. RBC Capital Markets is acting
as investment banker for the Company; BRG is also acting as the
Company's restructuring advisor, Cole Schotz is the Company's legal
counsel, and A&G Realty Partners is marketing the store leases.

"This is certainly not the outcome I wanted, and it is one of the
most difficult days of my life. But I believe liquidation provides
the greatest recovery for our creditors," Mitchell Modell said of
the bankruptcy filing.

Highcap declined to name the buyer of the Flushing store property.

                 About Modell's Sporting Goods

Modell's Sporting Goods -- https://www.modells.com/ -- is a
family-owned and operated retailer of sporting goods, athletic
footwear, active apparel, and fan gear. Modell's Sporting Goods
operates stores throughout New York, New Jersey, Pennsylvania,
Connecticut, Massachusetts, New Hampshire, Delaware, Maryland,
Virginia and the District of Columbia.

Modell's Sporting Goods, Inc., and its affiliates sought Chapter 11
protection (Bankr. D.N.J. Lead Case No. 20-14179) on March 11,
2020.

Modell's Sporting Goods was estimated to have $500,000 to $1
million in assets and $1 million to $10 million in liabilities.   

The Hon. Vincent F. Papalia was the case judge.

The Debtors tapped Cole Schotz P.C. as counsel; Berkeley Research
Group, LLC, as restructuring advisor; and Prime Clerk LLC as claims
agent.

On March 23, 2020, the Office of the United States Trustee
appointed the Official Committee of Unsecured Creditors of Modell's
Sporting Goods.  The Committee retained Lowenstein Sandler LLP, as
counsel.


MOHEGAN GAMING: Transfers Equity Ownership in Athens Project to GEK
-------------------------------------------------------------------
In October 2020, a consortium among two wholly owned unrestricted
subsidiaries of the Mohegan Tribal Gaming Authority d/b/a Mohegan
Gaming & Entertainment and GEK Terna Holding Real Estate
Construction S.A. of Greece was selected by the Hellenic Gaming
Commission as the provisional contractor to develop an integrated
resort and casino near Athens, Greece.  Subsequently, Mohegan
Gaming conducted a comprehensive review of its operations and
future commitments against the new backdrop created by the COVID-19
global pandemic and concluded that it would not continue to pursue
the concession rights for the Athens Project.  Accordingly, on
Sept. 17, 2021, Mohegan Gaming, through its unrestricted
subsidiaries, transferred all of its equity ownership in the Athens
Project to GEK Terna, previously the minority investor in the
project.  

Mohegan Gaming and GEK Terna coordinated the equity transfer with
the requisite government officials in Greece, including approval by
the Commission on Oct. 22, 2021.  The final transfer of the
consortium's reliance on the company's technical and professional
capacity and experience in the development and operation of
integrated resort casinos remains pending, along with other
administrative procedures for final governmental and regulatory
review.

                       About Mohegan Gaming

Mohegan Tribal Gaming Authority d/b/a Mohegan Gaming &
Entertainment is a master developer and operator of premier global
integrated entertainment resorts, including Mohegan Sun in
Uncasville, Connecticut, Inspire in Incheon, South Korea and
Niagara Casinos in Niagara, Canada.  MGE is owner, developer,
and/or manager of integrated entertainment resorts throughout the
United States, including Connecticut, New Jersey, Washington,
Pennsylvania, Louisiana, as well as Northern Asia and Niagara
Falls, Canada, and coming soon pending regulatory approval, Las
Vegas, Nevada.  MGE is owner and operator of Connecticut Sun, a
professional basketball team in the WNBA and New England Black
Wolves, a professional lacrosse team in the National Lacrosse
League.  For more information on MGE and its properties, visit
www.mohegangaming.com.

Mohegan Gaming reported a net loss of $162.02 million for the year
ended Sept. 30, 2020, compared to a net loss of $2.37 million for
the year ended Sept. 30, 2019.

                             *   *   *

As reported by the TCR on Feb. 4, 2021, Moody's Investors Service
upgraded Mohegan Tribal Gaming Authority's ("MTGA") Corporate
Family Rating to Caa1 from Caa2 and Probability of Default Rating
to Caa1-PD from Caa2-PD.  The upgrade considers that on January 26,
MTGA closed on a refinancing that had a meaningful positive impact
on the company's liquidity.


MY SIZE: Launches $8.5 Million Registered Direct and PIPE Offerings
-------------------------------------------------------------------
My Size, Inc. has entered into definitive purchase agreements with
several institutional investors for the issuance and sale of
2,514,800 shares of its common stock at a purchase price of $1.352
per share, in a registered direct offering priced at-the-market
under Nasdaq rules.  In a concurrent private placement, My Size has
also agreed to issue and sell to the investors 3,772,208 shares of
its common stock, at the same purchase price as in the registered
direct offering.  In addition, the company has agreed to issue to
the investors in the offerings unregistered warrants to purchase up
to an aggregate of 4,715,256 shares of common stock.  The aggregate
gross proceeds to the company of both offerings is expected to be
approximately $8.5 million.  The offerings are expected to close
today, subject to the satisfaction of customary closing
conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent
for the offerings.

The unregistered warrants will have an exercise price $1.26 per
share, be exercisable immediately upon issuance and a term of five
years.

My Size currently intends to use the net proceeds from the
offerings for general corporate purposes, including working
capital.

The shares of common stock offered in the registered direct
offering (but excluding the shares of common stock offered in the
private placement and the shares of common stock underlying the
warrants) are being offered and sold by My Size pursuant to a
"shelf" registration statement on Form S-3 (Registration No.
333-251679), including a base prospectus, previously filed with the
Securities and Exchange Commission on Dec. 23, 2020 and declared
effective by the SEC on Dec. 30, 2020.  The offering of the shares
of common stock to be issued in the registered direct offering are
being made only by means of a prospectus supplement that forms a
part of the registration statement.  A final prospectus supplement
and an accompanying base prospectus relating to the registered
direct offering will be filed with the SEC and will be available on
the SEC's website located at http://www.sec.gov. Electronic copies
of the prospectus supplement and accompanying base prospectus may
also be obtained from H.C. Wainwright & Co., LLC at 430 Park
Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711
or e-mail at placements@hcwco.com.

                           About My Size

Headquartered in Airport City, Israel, My Size, Inc. --
www.mysizeid.com -- is a creator of mobile device measurement
solutions that has developed innovative solutions designed to
address shortcomings in multiple verticals, including the
e-commerce fashion/apparel, shipping/parcel and do it yourself, or
DIY, industries. Utilizing its sophisticated algorithms within its
proprietary technology, the Company can calculate and record
measurements in a variety of novel ways, and most importantly,
increase revenue for businesses across the globe.

My Size reported a net loss of $6.16 million for the year ended
Dec. 31, 2020, compared to a net loss of $5.50 million for the year
ended Dec. 31, 2019. As of June 30, 2021, the Company had $6.36
million in total assets, $1.41 million in total liabilities, and
$4.94 million in total stockholders' equity.

Tel Aviv, Israel-based Member Firm of KPMG International, the
Company's auditor since 2017, issued a "going concern"
qualification in its report dated March 29, 2021, citing that the
Company has incurred significant losses and negative cash flows
from operations and has an accumulated deficit that raises
substantial doubt about its ability to continue as a going concern.



NATIONAL RIFLE: Appeal Over Pandemic Closures Draws Resistance
--------------------------------------------------------------
Reuters reports that a federal appeals court panel on Wednesday,
October 27, 2021, cast doubt on an effort by the National Rifle
Association to revive its lawsuit challenging New York state's
closing of gun stores early in the COVID-19 pandemic because they
were "non-essential" businesses.

The NRA, which is also defending itself against a lawsuit by New
York's attorney general seeking its dissolution, had sued over a
March 2020 executive order by then-Governor Andrew Cuomo, saying
the closures violated the Second Amendment and other provisions of
the U.S. Constitution.

A federal judge dismissed the NRA's lawsuit in August 2020, but
Cuomo's order was later rescinded and another legal challenge to
the order was declared moot.

Philip Furia, a lawyer for the NRA, told the 2nd U.S. Circuit Court
of Appeals in Manhattan that the gun rights group still had "viable
claims," but drew skepticism in arguing it be allowed to replead
its case and seek compensatory damages.

"I'm not sure what you want," Circuit Judge Michael Park said. "I'm
not sure what this lawsuit is about anymore."

Brian Ginsberg, a lawyer for the state, said there were
constitutional problems with a repleading, and the NRA already had
three chances to seek compensatory damages.

"This would be the fourth bite at the apple, and I think that's at
least two bites too many," he said.

The appeals court did not say when it will rule.

In seeking the NRA's dissolution, state Attorney General Letitia
James has said the group, a New York nonprofit, is racked by
corruption, including by diverting millions of dollars to insiders
including longtime Chief Executive Wayne LaPierre.

The NRA had in January filed for bankruptcy and sought to
reincorporate in the more gun-friendly Texas, but a judge
https://www.reuters.com/world/us/us-bankruptcy-judge-rejects-nra-bid-reorganize-texas-2021-05-11
called the Chapter 11 case an improper effort to gain an "unfair
litigation advantage" and avoid James' oversight.

James is also seeking LaPierre's ouster.

The case is National Rifle Association of America v Cuomo et al,
2nd U.S. Circuit Court of Appeals, No. 20-3187.

                   About National Rifle Association

Founded in 1871 in New York, the National Rifle Association of
America is a gun rights advocacy group. The NRA claims to be the
longest-standing civil rights organization and has more than five
million members.

Seeking to move its domicile and principal place of business to
Texas amid lawsuits in New York, the National Rifle Association of
America sought Chapter 11 protection (Bankr. N.D. Tex. Case No.
21-30085) on Jan. 15, 2021. Affiliate Sea Girt LLC simultaneously
sought Chapter 11 protection (Case No. 21-30080).

The NRA was estimated to have assets and liabilities of $100
million to $500 million as of the bankruptcy filing.

Judge Harlin Dewayne Hale oversees the cases.

The Debtors tapped Neligan LLP and Garman Turner Gordon LLP as
their bankruptcy counsel, and Brewer, Attorneys & Counselors as
their special counsel.

The U.S. Trustee for Region 6 appointed an official committee of
unsecured creditors on Feb. 4, 2021. Norton Rose Fulbright US, LLP
and AlixPartners, LLP serve as the committee's legal counsel and
financial advisor, respectively.

                          *     *     *

Following a 12-day trial, U.S. Bankruptcy Judge Harlin D. Hale
dismissed the National Rifle Association's Chapter 11 case Tuesday,
May 11, 2021, after finding the group filed its petition in bad
faith in order to gain advantage in litigation brought by New
York's attorney general. New York Attorney General Letitia James
sought the dismissal of the case. Judge condemned the NRA's
attempts to avoid accountability, making clear that the
organization's actions were "not an appropriate use of
bankruptcy."



NORCROSS LODGING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Norcross Lodging Associates, LLP
        6650 Bay Circle
        Peachtree Corners, GA 30071

Business Description: Norcross Lodging Associates is the fee
                      simple owner of a property located at 6650
                      Bay Circle, Peachtree Corners, GA valued at
                      $1.3 million.

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Southern District of Indiana

Case No.: 21-04856

Judge: Hon. Jeffrey J. Graham

Debtor's Counsel: Andrew Kight, Esq.
                  JACOBSON HILE KIGHT LLC
                  108 E. 9th Street
                  Indianapolis, IN 46202
                  Tel: 317-608-1130
                  Email: akight@jhklegal.com

Total Assets: $1,369,625

Total Liabilities: $1,838,384

The petition was signed by Mohan P. Hari, managing partner.

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/GISBKNA/Norcross_Lodging_Associates_LLP__insbke-21-04856__0001.0.pdf?mcid=tGE4TAMA


OASIS PETROLEUM: S&P Affirms 'B' ICR Following Divestiture of OMP
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Oasis
Petroleum Inc. (OAS) and its 'B+' issue-level rating on its
unsecured notes. Its '2' recovery rating on the unsecured notes
remains unchanged, indicating its expectation for substantial
(70%-90%; rounded estimate: capped at 85%) recovery of principal in
the event of a payment default.

OAS has announced that it is selling its stake in Oasis Midstream
Partners L.P. (OMP) to Crestwood Equity Partners L.P. (CEQP) for
$160 million in cash and 21 million CEQP common units.

S&P said, "We anticipate OAS' financial metrics will remain
conservative following the midstream divestiture. Although we
expect its operating costs to widen by about $6 per barrel of
oil-equivalent (boe) to the mid- to high-teens per barrel range
following the transaction, which we expect to close in the first
quarter of 2022, we project the company will maintain low leverage
metrics, including FFO to debt of well above 60% and debt to EBITDA
of below 1.0x. Given the current market environment, we believe
elevated oil and gas prices will mitigate OAS' relatively high-cost
structure and anticipate it will benefit from CEQP's dividend
distributions once the transaction is completed. Accordingly, the
company will likely generate substantial FOCF over the next two
years, which we believe it will mostly use to fund shareholder
returns (beyond its $40 million annual base dividend)
and--potentially--acquisitions."

OAS' production is increasing following the close of its
acquisition of Williston Basin assets. The company has provided
updated fourth-quarter guidance, including total production rates
of 68.5 thousand boe per day (Mboe/d)-71.5 Mboe/d, which compares
with 52 Mboe/d in the third quarter. In addition, S&P expects its
production to exceed 70 Mboe/d (65% or more oil) in 2022 and
anticipate it will likely materially increase its capital
expenditure next year. However, its proved reserve base of
approximately 235 million boe (MMboe) (about 80% developed) is
relatively small and concentrated compared with those of its peers
and its production is significantly lower than it was three years
ago. OAS has hedged most of its oil production for next year, which
may be a drag on its profitability. It also remains subject to
potential Bakken basis volatility and regulatory uncertainty around
the Dakota Access Pipeline, which carries roughly a third of its
production. S&P expects the company to run 2 rigs in the near-term,
with its drilling and completions activity focused mainly in the
South Nesson, Indian Hills and Painted Woods areas.

OAS has a substantial liquidity buffer with no upcoming debt
maturities. Pro forma for the Williston acquisition and the OMP
divestiture, the company will have more than $900 million of
liquidity, including more than $450 million of cash and an undrawn
$450 million revolver commitment (on a $900 million borrowing base)
expiring May 2024. The recently issued 6.375% unsecured notes
mature in 2026, providing the company with plenty of runway to take
advantage of a much-improved commodity market. Nevertheless, OAS
has yet to establish an extended record of prudent financial
management since emerging from Chapter 11 bankruptcy in late 2020.

S&P said, "The stable outlook on OAS reflects our expectation that
it will maintain moderate capital spending to modestly expand its
production while generating substantial FOCF, which we anticipate
it will use primarily for shareholder returns. We expect the
company's FFO to debt to average well above 60% over the next 12-24
months with debt to EBITDA of less than 1.0x."

S&P would mostly likely downgrade OAS if its credit metrics
deteriorate significantly, including FFO to debt of less than 20%.
This would most likely occur due to:

-- Unforeseen operational issues; or

-- A significant decrease in commodity prices that reduces its
cash flows.

S&P would mostly likely upgrade OAS if:

-- The company improves the scale of its production and proved
reserves to be more in line with those of its higher-rated peers
while maintaining leverage metrics appropriate for a higher rating,
including FFO to debt of at least 30%; and

-- It establishes an extended post-bankruptcy track record of
prudent financial management.



OFS INTERNATIONAL: IPSCO Agrees to Withdraw All IPSCO Claims
------------------------------------------------------------
OFS International LLC and its Debtor Affiliates submitted a First
Amended Combined Disclosure Statement and Plan of Reorganization
dated October 22, 2021.

On September 20, 2021, the Debtors filed their Objection to IPSCO
Tubulars, Inc. and Ultra Premium Services L.L.C.'s Proofs of Clam
and Motion to Estimate (the "IPSCO Claim Objection"). The IPSCO
Claim Objection asked that the IPSCO Claims be disallowed in their
entirety or, at a minimum, estimated at zero dollars for voting
purposes. The Debtors asserted that there is no evidence that the
new products are based on any misappropriation of a trade secret
and that the IPSCO Claims are meritless attacks by a business
competitor.

The Debtors produced drawings and other documents related to the
disputed products. After reviewing those drawings and documents,
IPSCO agreed to withdraw all of the IPSCO Claims.

           Marketing Process and Executed Term Sheets

The Debtors obtained approval to employ Chiron as their investment
banker. The Debtors instructed Chiron to market for potential debt
and equity sources as well as strategic partners. The terms of
Chiron's engagement include separate calculations of fees depending
on whether the Debtors closed transactions for debt, equity or a
sale of its assets. In all instances, the minimum fee for a
transaction up to $10 million was $500,000. For debt raised above
$10 million, Chiron's fee is 1%. For equity raised above $10
million, Chiron's fee is 3%. For asset sales between $10 million
and $20 million, Chiron's fee is 3%.

Chiron sent the teaser regarding the opportunity involving the
Debtors to 123 private equity firms. The Committee's investment
banker reviewed this list and provided names of an additional 22
private equity firms which Chiron contacted. Only one of the 145
private equity firms that Chiron contacted executed a non
disclosure agreement ("NDA"). The Debtor has no potential source of
equity other than Mr. Semerikov.

Chiron sent the teaser regarding the opportunity involving the
Debtors to 132 strategic parties. The Committee's investment banker
reviewed this list and provided names of an additional 11 strategic
parties which Chiron contacted. Of the 143 strategic parties that
Chiron contacted, only four executed a non-disclosure agreement and
none provided a term sheet or other proposal after reviewing the
Debtors' data room. The Debtor has no restructuring alternatives
involving a strategic partner.

Chiron sent the teaser regarding the opportunity involving the
Debtors to 301 potential source of debt financing. This pool of
contacts included a wide variety of types of lenders, including
lenders that would provide a real estate term loan or an asset
based lending facility and some that would provide both. The
Committee's investment banker reviewed this list and provided names
of an additional 13 lenders which Chiron contacted. Of the 314
lenders that Chiron contacted, 50 executed NDAs and 26 reviewed
documents in the Debtors' data room.

The Debtors received several financing term sheets which would be
secured by different collateral. The Debtors negotiated these term
sheets and concluded that the best option with the highest
likelihood of closing would be to pursue two exit facilities—one
secured by a first lien on all of the Debtors' real estate and one
secured by a first lien on the Debtors' non-real estate assets.

On October 12, 2021, the Debtors executed a term sheet with FGI
Worldwide LLC for a proposed revolving facility to be secured by
all non-real estate assets based on the value of accounts and
inventory and a term loan based on the value of machinery and
equipment. Mr. Semerikov will be required to provide FGI with a
validity guaranty.

On October 12, 2021, the Debtors executed a term sheet with Briar
Capital for a proposed term loan to be secured by a first lien on
all of the Debtors' real estate. Mr. Semerikov will be required to
provide Briar Capital with a personal guaranty for a portion of the
debt and limited deficiency guaranty for a portion of the debt.

On October 14, 2021, the Court entered an order authorizing the
Debtors to pay the diligence fees to FGI and Briar Capital required
by their respective term sheets. The Debtors are actively working
with FGI and Briar Capital on the due diligence process.

Additionally, the Settlement Agreement with TMK has a termination
date of December 31, 2021. The termination date was a negotiated
term in the settlement which was critical to TMK. TMK has indicated
that they will not extend this deadline. Instead, the Debtors would
be forced into a chapter 7 liquidation and the Settlement Agreement
with TMK would have no effect.

Class 4 consists of the Secured Equipment Claims. Except to the
extent that a Holder of an Allowed Secured Equipment Claim agree to
a less favorable treatment, all Secured Equipment Claims shall be
either (i) reinstated or such other treatment sufficient to render
such holder's Allowed Secured Equipment Claim Unimpaired pursuant
to 11 U.S.C. § 1124 as of the Effective Date, or (ii) shall
receive a Cash payment equal to the Allowed amount of such Claim on
the Effective Date.

Like in the prior iteration of the Plan, each Holder of a General
Unsecured Claim shall receive a pro rata distribution of (i) the
Initial GUC Distribution, and (ii) the Plan Payments.

The Plan will be implemented with funds available from (i) a new
term loan (or loans) secured by the Debtors' real estate, (ii) a
new revolving credit facility )and term loan secured by the
Debtors' non-real estate assets, (iii) available cash on hand as of
the Effective Date as a result of the Debtors earlier than
projected payoff of the DIP Loan, (iv) the New Value Contribution,
and (v) future revenues generated by the Reorganized Debtors'
business operations.

The Plan provides the necessary liquidity for the payment of
Secured Claims and Administrative and Priority Claims and
mechanisms for consummation of distributions to all Holders of
Claims entitled to them. The Debtors' financial projection support
their ability to make the Plan Payments over the time contemplated
in the Plan. Thus, the Debtors believe that, following consummation
of the Plan, there will be no need for further liquidation or
reorganization.

A full-text copy of the First Amended Combined Disclosure Statement
and Plan dated October 22, 2021, is available at
https://bit.ly/3BiCqnX from BMC Group, Inc., claims agent.

Counsel to the Debtors:

     PORTER HEDGES LLP
     Joshua W. Wolfshohl
     Aaron J. Power
     Megan Young-John
     1000 Main Street, 36th Floor
     Houston, Texas 77002
     Telephone: (713) 226-6600
     Facsimile: (713) 226-6628
     E-mail: jwolfshohl@porterhedges.com
             apower@porterhedges.com
             myoung-john@porterhedges.com

                      About OFS International

OFS International, LLC is a provider of oil and gas production and
processing equipment and services, with its headquarters in
Houston, Texas, and operations in the Permian, Barnett and
Marcellus regions.  It provides field services, inspections,
couplings, threading and accessories to the oil and gas industry.

OFS International and affiliates, OFSI Holding LLC and Threading
and Precision Manufacturing LLC, sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 21-31784) on May 31, 2021.  In the
petition signed by chief financial officer Alexey Ratnikov, OFS
International disclosed assets of up to $50 million and liabilities
of up to $100 million.

The cases are handled by Judge David R. Jones.  

The Debtors tapped Porter Hedges, LLP, as bankruptcy counsel, Ahmad
Zavitsanos Anaipakos Alavi & Mensing, P.C. as special counsel, and
Chiron Financial, LLC as investment banker and financial advisor.
BMC Group, Inc., is the Debtors' claims agent, while Gordon
Brothers Asset Advisors, LLC is the Debtor's machine and equipment
inventory appraiser.             

Sandton Capital Solutions Master Fund V, LP, the Debtors' DIP
lender, is represented by McGuirewoods, LLP.


ONDAS HOLDINGS: Plans for New Joint HQs in Waltham, Mass.
---------------------------------------------------------
Ondas Holdings Inc. plans to move its headquarters to a new
facility in Waltham, MA.  Ondas Holdings and its subsidiary,
American Robotics, will share the headquarters.  American Robotics,
previously based in Marlborough, MA, will maintain its office space
in Marlborough for flight testing and remote operations.  American
Robotics will move business, operations and R&D functions to the
new joint headquarters in Waverley Oaks Park, Waltham's premier
destination for robotic business and the home to companies like
Vecna Robotics and Veo Robotics.  Ondas Holdings and American
Robotics anticipate finalizing the move to the new space in early
2022.

The new 18,000-square-foot facility includes 6,000 square feet of
flex lab space for the further development and expansion of
American Robotics' Scout System, the world's first commercial drone
with FAA approvals for fully-automated flight.  This new office,
combined with the Ondas Networks office in Sunnyvale, CA provides
Ondas Holdings and its subsidiaries unique access to talent and
ecosystem partners in two highly regarded technology hubs.

"The opening of our new headquarters in Waltham will be a
significant step for the future of American Robotics," said Reese
Mozer, CEO and co-founder of American Robotics.  "The new
location's proximity to Boston will enable our team to continue
hiring the best minds in robotics and business.  We look forward to
growing our team and business in Waltham."

The new office space will house up to 100 employees, enabling
American Robotics to continue its massive growth efforts, having
already increased full-time employees by 200 percent since January
2021.  American Robotics' headcount is expected to grow at a
similar rate throughout the remainder of 2021 and into 2022.

"We are excited to establish this new office location for American
Robotics and the holding company," said Eric Brock, CEO of Ondas.
"Talent and ecosystem relationships are critical to Ondas' success
and growth plans and adding the Waltham location to our beachhead
in Silicon Valley offers substantial benefits to scaling both Ondas
Networks and American Robotics.  We are well positioned to execute
for our customers."

                     About Ondas Holdings Inc.

Ondas Holdings Inc., is a provider of private wireless data and
drone solutions through its wholly owned subsidiaries Ondas
Networks Inc. and American Robotics, Inc.  Ondas Networks is a
developer of proprietary, software-based wireless broadband
technology for large established and emerging industrial markets.
Ondas Networks' standards-based (802.16s), multi-patented,
software-defined radio FullMAX platform enables Mission-Critical
IoT (MC-IoT) applications by overcoming the bandwidth limitations
of today's legacy private licensed wireless networks.  Ondas
Networks' customer end markets include railroads, utilities, oil
and gas, transportation, aviation (including drone operators) and
government entities whose demands span a wide range of mission
critical applications.  American Robotics designs, develops, and
markets industrial drone solutions for rugged, real-world
environments.  AR's Scout System is a highly automated, AI-powered
drone system capable of continuous, remote operation and is
marketed as a "drone-in-a-box" turnkey data solution service under
a Robot-as-a-Service (RAAS) business model. The Scout System is the
first drone system approved by the FAA for automated operation
beyond-visual-line-of-sight (BVLOS) without a human operator
on-site.  Ondas Networks and American Robotics together provide
users in rail, agriculture, utilities and critical infrastructure
markets with improved connectivity and data collection
capabilities.

Ondas Holdings reported a net loss of $13.48 million for the year
ended Dec. 31, 2020, compared to a net loss of $19.39 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$64.92 million in total assets, $5.14 million in total liabilities,
and $59.78 million in total stockholders' equity.


PARKWAY GENERATION: S&P Assigns Prelim 'BB' Rating on Term Loan B
-----------------------------------------------------------------
S&P Global Ratings assigned its preliminary 'BB' rating to Parkway
Generation LLC's proposed $1 billion senior secured term loan B and
$140 senior secured term loan C due in 2028. The outlook is
stable.

Parkway will use the proceeds from the proposed term loan B to
partially fund the acquisition of eight gas-fired power plants from
PSEG Power.

S&P said, "The stable outlook reflects our expectation that Parkway
will maintain a minimum DSCR of at least 1.8x in all years. Under
current and forecast market conditions in PJM, we project realized
spark spreads of about $15 per MWh in 2022. Our forecast for term
loan B debt outstanding at maturity in 2028 is $520 million."

S&P could downgrade the debt if Parkway were unable to maintain
DSCRs above 1.5x in each period of our forecast. This could stem
from:

-- Weaker realized spark spreads or lower PJM capacity prices for
delivery year 2023/2024 and beyond;

-- Unplanned outages that substantially affect generation;
Economic factors in which the power plants are regularly kept at
minimum load; or

-- The project's excess cash flow not translating to debt paydown
as we envision.

S&P could consider an upgrade if it believed Parkway would achieve
DSCRs above 2.5x in each period over the remainder of the project's
asset life. This could stem from:

-- Secular developments in the PJM wholesale market that
positively influence the power and capacity prices for an extensive
period;

-- Steady operational performance; and

-- The continued access to relatively inexpensive natural gas
feedstock.

Operations phase stand-alone credit profile (SACP; senior debt)

-- Operations phase business assessment:10
-- Preliminary SACP: 'bb'
-- Downside impact on preliminary SACP: 'bbb' category (+1 notch)
-- Material dependence on cash flow sweep: -1 notch
-- Liquidity: neutral (no impact)
-- Comparative analysis assessment: neutral (no impact)
-- Operations phase SACP: 'bb'
-- Modifiers (senior debt)

-- Parent linkage: preliminarily delinked
-- Structural protection: neutral
-- Senior debt issue rating: 'BB'



PECF USS III: Moody's Assigns B3 CFR, Outlook Stable
----------------------------------------------------
Moody's Investors Service assigned to PECF USS Intermediate Holding
III Corporation (dba "United Site Services" or "USS") a B3
corporate family rating and B3-PD probability of default rating. At
the same time, Moody's assigned B2 ratings to the company's
proposed $1.35 billion first lien senior secured credit facility
(including $100 million 5-year revolving credit facility and $1.25
billion 7-year term loan B) and $550 million senior secured notes
due 2028, as well as a Caa2 rating to the proposed $750 million
senior unsecured notes due 2029. The outlook is stable.

The action follows the announcement that Platinum Equity GP (an
affiliate of private equity sponsor Platinum Equity, LLC, "Platinum
GP"), the existing controlling shareholder of USS, along with its
new Platinum Equity Capital Partners V ("Fund V"), will raise a
continuation fund vehicle that will acquire interests in USS from
Platinum Equity Capital Partners Fund IV, an affiliated investment
fund of Platinum, and other investors for a purchase price of $3.75
billion. As part of the announced transaction, Platinum GP, along
with its affiliated Fund V and new investors, collectively LPs,
will fund and roll at least $1.4 billion of equity. Platinum GP and
the new investors will also provide $200 million of unfunded
capital commitments to support the company's acquisition strategy.
Proceeds from the proposed debt raise and equity will be used to
refinance the company's outstanding indebtedness, purchase equity
interests in the company and pay related fees and expenses.
Following the close of the transaction, Platinum GP will maintain
controlling ownership in the company and a majority of the board
seats. The company will also enter a new $200 million asset-based
lending ("ABL") revolving credit facility due 2026 (unrated by
Moody's). Moody's expects both revolving credit facilities will be
undrawn at close.

"USS' very high pro forma leverage above 8.0 times is partly
mitigated by anticipated free cash flow and anticipated
deleveraging through revenue growth and strong EBITDA margins in a
low 30s percentage range," said Moody's Assistant Vice President
Oleg Markin. "USS has maintained a leading market share position in
the very fragmented but growing U.S. portable sanitation and site
services market, having successfully completed 40 accretive
acquisitions since the start of 2017 and executed well on the
operational improvements. The non-discretionary nature of demand
and a good track record of deleveraging following the 2017 LBO
provide support to the credit profile," added Markin. The ratings
incorporate governance risk as a key consideration, specifically
the risk of debt-financed acquisitions or shareholder distributions
and a tolerance for very high debt leverage typical of private
equity sponsor-controlled companies.

Moody's took the following actions and made the following outlook
statement:

Issuer: PECF USS Intermediate Holding III Corporation

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

Senior Secured Revolving Credit Facility, Assigned B2 (LGD3)

Senior Secured Term Loan B, Assigned B2 (LGD3)

Senior Secured Regular Bond/Debenture Assigned B2 (LGD3)

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

Outlook, Is Stable

The assignment of ratings remains subject to Moody's review of the
final terms and conditions of the proposed debts. The transaction
is expected to close by mid-November. Moody's anticipates all of
the ratings at USS Ultimate Holdings, Inc., including the B2 CFR,
will be withdrawn upon completion of the proposed transaction and
repayment of the existing debt.

RATINGS RATIONALE

USS' B3 CFR reflects the company's highly leveraged capital
structure following the transaction, its moderate revenue scale
around $1.0 billion a year with concentration in the highly
cyclical residential and commercial construction end markets and
aggressive growth strategies including debt funded acquisitions.
With more than 40 acquisitions completed since the beginning of
2017, USS has built industry's largest coast-to-coast footprint
that allows for scale and scope benefits, more consistent service
levels and serving national accounts. Moody's anticipates the
company will deleverage from currently elevated levels because of
EBITDA growth and to a lesser extent debt repayment. Moody's
expects organic revenue growth in the mid-to-high single digit
percentages and EBITDA margin above 30%. As such, Moody's projects
the company's debt-to-EBITDA leverage will fall below 7.0 times
over the next 12-18 months. However, the company is expected to
pursue debt funded acquisitions to support its strategic growth
plan, which could slow the pace of financial leverage declines.

All financial metrics cited reflect Moody's standard adjustments.

The rating favorably considers United Site Services' leading market
position within the fragmented portable sanitation and related site
service solutions markets, its offering of a highly essential and
critical service to its customers and solid track record of
deleveraging following the 2017 LBO. The company has long-standing
relationships with its customers, as indicated by high customer
retention rates. USS competes through building a reputation for
high service quality and achieving efficiency through its large
scale relative to its competitors. Its expectation for favorable
conditions in the construction sector over the next 12-18 months is
also a positive credit consideration.

Portable sanitation units provide environmental benefits because
they save water and prevent the spread of diseases that could harm
wildlife. The units control smell and reduce insect problems. These
factors make portable toilets both an affordable and sustainable
choice for any worksite or event. Portable sanitation requirements
are often mandated by federal and local regulation. USS has
established strong relationships with its regulators and has a
track record of adhering to the requirements for proper handling of
waste materials and the use of proper chemicals to clean toilets.
The exposure of personnel to harmful material are infrequent due to
the company's strong safety record, anchored by stringent internal
and external controls. USS employs a large specialized workforce to
provide its services.

Given tight labor markets Moody's believes that USS faces strong
competition for human capital that could lead to increased payroll
costs and hurt profitability.

Governance risk is a key consideration driving the B3 CFR. Moody's
expects limited independent director oversight under private equity
control and aggressive use of debt to fund its growth strategy that
increases leverage and constrain the company's metrics. Positively,
management has a proven track record of executing its consolidation
strategy led by a highly efficient internal team and a systematic
integration and expense rationalization approach.

Moody's projects good liquidity over the next 12-15 months,
including at least $80 million of annual free cash flow, a pro
forma cash balance of approximately $100 million at closing and
full availability under the new $200 million ABL and $100 million
senior secured revolving credit facility. The company's $100
million revolver includes a $75 million sublimit for letters of
credit. These sources provide good coverage for required annual
term loan amortization of approximately $12.5 million, paid
quarterly. There are no financial maintenance covenants under the
secured credit facilities (ABL, revolver and term loan). The ABL
revolver will have a springing 1.0 times minimum fixed charge
coverage covenant if excess availability falls below the greater of
10% of the aggregate commitments, or $20 million. The cash revolver
will have a springing first lien net leverage covenant of 7.8x if
more than 40% drawn. Moody's does not expect covenants to be tested
and believes there is ample cushion within the covenants based on
Moody's projected earnings levels for the next 12-15 months.

The B2 ratings assigned to the proposed first lien senior secured
credit facility (revolver and term loan) and senior secured notes
due 2028, one notch above the company's B3 CFR, reflects their
contractual subordination to the asset-based lending ("ABL")
revolving credit facility (unrated) but priority claim relative to
senior unsecured notes. The secured debt (other than ABL) will be
secured on a first-priority basis by liens on the fixed asset
collateral and by the stock of the company's domestic subsidiaries,
and on a second-priority basis by liens on assets securing the
company's ABL. Collateral sharing arrangements and other structural
features of the debt documents render all secured debt (other than
ABL) equal in Moody's waterfall of claims at default. The ABL is
considered senior to the rated secured debts due to its first
priority claim on the most liquid current US assets of the
company.

The credit facilities are expected to contain covenant flexibility
for transactions not disclosed at this time that could adversely
affect creditors, including the omission of certain material lender
protections.

The Caa2 rating assigned to the company's senior unsecured notes
due 2029, two notches below the B3 CFR, results from their
effective subordination to the company's considerable amount of
secured debt.

The stable outlook considers a favorable economic environment,
projected organic revenue growth in the mid-to-high single digit
percentages range over the next 12-18 months and that the company's
operational improvements and route density benefits will largely
mitigate headwinds to its business including anticipated rising
labor and fuel costs. Moody's also expects the company will
maintain good liquidity over the next 12-15 months but will likely
divert free cash flow towards acquisitions rather than debt
repayment.

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

Moody's could upgrade the ratings if debt reduction and sustained
earnings growth lead debt-to-EBITDA to be maintained below 6.0
times and free cash flow-to-debt sustained in a mid-single digit
percentages range. An upgrade would also require the company to
maintain good liquidity and balanced financial policies.

The ratings could be downgraded if revenue weakens or profit rates
decline, debt-to-EBITDA is sustained around 7.5 times, free cash
flow remains near breakeven or is negative or liquidity
deteriorates.

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

Headquartered in Westborough, MA and controlled by affiliates of
Platinum Equity, LLC, USS is a provider of portable sanitation
units, temporary fencing, storage containers and temporary electric
equipment serving the construction, commercial and industrial,
special event, government agency and other end markets. The company
generated revenue of around $1.0 billion for the 12 months ended
June 30, 2021.


PETROTEQ ENERGY: Responds to Unsolicited Takeover Bid by Viston
---------------------------------------------------------------
Petroteq Energy Inc. confirmed that 2869889 Ontario Inc., an
indirect, wholly-owned subsidiary of Viston United Swiss AG has
commenced a conditional, unsolicited takeover bid to acquire all of
the issued and outstanding common shares of the company.  Petroteq
shareholders are advised to take no action in respect of the Offer
until Petroteq's Board of Directors has made a formal
recommendation to shareholders.

Petroteq cautions its shareholders and potential investors that
there can be no certainty that the Offer will be supported by the
Board or that any other strategic transaction with any other person
will be pursued by Petroteq or ultimately completed.  The Board is
reviewing the Offer and will make its formal recommendation in
response to the Offer as required by applicable securities laws.
Consistent with its fiduciary duties, the Board will evaluate the
Offer and Petroteq's options, including continuing to operate the
business to drive shareholder value and potentially exploring
possible alternative transactions.

The Board continues to believe Petroteq is well positioned to be an
industry leader with its one of a kind oil sands extraction
technology.

                    About Petroteq Energy Inc.

Petroteq Energy Inc. -- www.Petroteq.energy -- is a clean
technology company focused on the development, implementation and
licensing of a patented, environmentally safe and sustainable
technology for the extraction and reclamation of heavy oil and
bitumen from oil sands and mineable oil deposits.  Petroteq is
currently focused on developing its oil sands resources at Asphalt
Ridge and upgrading production capacity at its heavy oil extraction
facility located near Vernal, Utah.

Petroteq reported a net loss and comprehensive loss of $12.38
million for the year ended Aug. 30, 2020, compared to a net loss
and comprehensive loss of $15.78 million for the year ended Aug.
31, 2019.

Vancouver, British Columbia, Canada-based Hay & Watson, the
Company's auditor since 2012, issued a "going concern"
qualification in its report dated Dec. 15, 2020, citing that the
Company has had recurring losses from operations and has a net
capital deficiency, which raises substantial doubt about its
ability to continue as a going concern.


PHI GROUP: Signs $1.5-Bil. Financing Deal With Haj Finance Group
----------------------------------------------------------------
Effective Oct. 17, 2021, PHI Group, Inc. signed a contract
agreement with Haj Finance Group, a corporation registered in Oman,
Hatat House Ground Floor, Ruwi, Muscat, Sultanate of Oman, for a
financing program in the amount of $1.5 billion, which carries a
fixed preferred rate of annual interest for thirty-five years with
a three-year grace period.  The closing of this transaction is to
occur after the registration of a Special Purpose Vehicle (SPV)
within United Arab Emirates, the signing of the closing documents
and the approval of the transfer of funds by the Central Bank of
United Arab Emirates (CBUAE).  

PHI Group intends to use the funds for the establishment of the
Asia Diamond Exchange and the Multi-Commodities Center in Vietnam,
for financing selective projects in the areas of real estate,
renewable energy, healthcare, and for other investment
opportunities in connection with PHILUX Global Funds SCA,
SICA-RAIF, a group of Luxembourg bank funds sponsored by the
company.

                          About PHI Group

Headquartered in Irvine, California, PHI Group, Inc.
(www.phiglobal.com) primarily focuses on advancing PHILUX Global
Funds, a group of Luxembourg bank funds organized as "Reserved
Alternative Investment Fund", and building the Asia Diamond
Exchange in Vietnam.  The Company also engages in mergers and
acquisitions and invests in select industries and special
situations that may substantially enhance shareholder value.

PHI Group reported a net loss of $7 million for the year ended June
30, 2021, compared to a net loss of $1.32 million for the year
ended June 30, 2020.  As of June 30, 2021, the Company had $892,228
in total assets, $7.69 million in total liabilities, and a total
stockholders' deficit of $6.80 million.

The Company has accumulated deficit of $51,010,719 and total
stockholders' deficit of $6,798,392 as of June 30, 2021.  The
Company said these factors as well as the uncertain conditions that
the Company faces in its day-to-day operations with respect to cash
flows create an uncertainty as to the Company's ability to continue
as a going concern.


PRINCESS PORT: Case Summary & 3 Unsecured Creditors
---------------------------------------------------
Debtor: Princess Port Bed and Breakfast, Inc.
        445 Mirada Road
        Half Moon Bay, CA 94019

Chapter 11 Petition Date: October 27, 2021

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 21-30727

Judge: Hon. William J. Lafferty

Debtor's Counsel: E. Vincent Wood, Esq.
                  THE LAW OFFICES OF E. VINCENT WOOD
                  1501 N. Broadway, Suite 261
                  Walnut Creek, CA 94596
                  Tel: (925) 278-6680
                  Fax: (925) 955-1655
                  Email: vince@woodbk.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Maria Boruta as principal.

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/7OFTRWY/Princess_Port_Bed_and_Breakfast__canbke-21-30727__0001.0.pdf?mcid=tGE4TAMA


PROFRAC SERVICES: S&P Places 'CCC+' ICR on CreditWatch Positive
---------------------------------------------------------------
S&P Global Ratings placed its 'CCC+' issuer credit rating on
U.S.-based completion services company ProFrac Services LLC and its
'CCC+' issue-level rating on its senior secured debt on CreditWatch
with positive implications

The CreditWatch placement reflects the meaningful improvement in
ProFrac's scale and market diversity following the acquisition. S&P
also expects the combined entity's financial measures to be
consistent with a higher rating. S&P expects to resolve the
CreditWatch around the close of the transaction, which it expects
will occur in the first quarter of 2022.

The CreditWatch placement follows ProFrac's announcement that it
will acquire its oilfield services peer FTS International for about
$400 million in cash. S&P said, "We expect the company's funding
allocation for the transaction will allow the combined entity to
maintain financial measures consistent with a higher rating. The
transaction will also more than double the size of ProFrac's active
completions fleet, providing it with increased scale in the Permian
Basin and Eagle Ford, while adding new markets in the Rockies and
Mid-Continent regions. We expect this transaction to enable the
company to generate improved economies of scale and provide it with
a greater presence in more industry-friendly regions. In addition,
after reaching a trough in mid-2020, we believe the demand for
completion services in the U.S. will continue to improve through
2022."

S&P said, "We could raise our ratings on ProFrac if the transaction
closes as expected and the combined entity's debt leverage remains
comfortably below 5x while it sustains funds from operations (FFO)
to debt of more than 12%. Additionally, we expect that the
company's liquidity will materially improve, providing it with a
sufficient cushion to absorb the cyclicality of its cash flow. We
will resolve the CreditWatch around the close of the transaction,
which we expect will occur in the first quarter of 2022."



QUORUM HEALTH: CHS, Credit Suisse Face Suit Over Bankruptcy
-----------------------------------------------------------
Becky Yerak, writing for The Wall Street Journal, reports that
Credit Suisse Group AG and Community Health Systems Inc. have been
sued over the 2020 bankruptcy of Quorum Health Corp., facing
allegations that their actions burdened the hospital operator with
more than $1.2 billion in debt.

Publicly traded Community Health Systems founded Quorum in 2015 and
spun it off a year later. Credit Suisse served as an adviser during
the spinoff. When Quorum filed for bankruptcy in April 2020 with
roughly $1.3 billion in debt, it said it was financially and
operationally troubled from the start.

                 About Quorom Health Care Services

Headquartered in Brentwood, Tennessee, Quorum Health (NYSE: QHC) --
http://www.quorumhealth.com/-- is an operator of general acute
care hospitals and outpatient services in the United States.
Through its subsidiaries, the Company owns, leases or operates a
diversified portfolio of 24 affiliated hospitals in rural and
mid-sized markets located across 14 states with an aggregate of
1,995 licensed beds.  The Company also operates Quorum Health
Resources, LLC, a leading hospital management advisory and
consulting services business.

Quorum Health incurred net losses attributable to the company of
$200.25 million in 2018, $114.2 million in 2017, and $347.7 million
in 2016.

As of Sept. 30, 2019, Quorum Health had $1.52 billion in total
assets, $1.72 billion in total liabilities, $2.27 million in
redeemable non-controlling interest, and a total deficit of $203.36
million.

On April 7, 2020, Quorum Health Corporation and 134 affiliates
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
20-10766) to seek confirmation of a pre-packaged plan.

Debtors hired McDermott Will & Emery LLP and Wachtell, Lipton,
Rosen & Katz as legal counsel, MTS Health Partners, L.P. as
financial advisor, and Alvarez & Marsal North America, LLC. as
restructuring advisor.  Epiq Corporate Restructuring, LLC, is the
claims agent, maintaining the Web site https://dm.epiq11.com/Quorum


RELEVANT HOLDINGS: Unsecureds to Get Share of Cash Flow for 5 Years
-------------------------------------------------------------------
Revelant Holdings, LLC, filed with the U.S. Bankruptcy Court for
the District of Colorado a Second Amended Plan of Reorganization
for Small Business dated October 22, 2021.

In January of 2014 Brett Edwards formed ENERCAT USA LLC, a Colorado
limited liability company, whose name was changed to Revelant, LLC
in April 2017, and subsequently changed again to Revelant Holdings,
LLC in January 2018 ("Revelant").

In October 2020, the Synergetic Related Entities, through former
employees of Revelant, as well as a new entity purportedly owned or
controlled by Brian Herman, and whose origin is unknown, (Enercat
Technology Group, Ltd.), began contacting customers and
distributors of Revelant alleging that Revelant was illegally
selling tools, and that they were required to surrender any tools
in their possession. This was done without filing for relief in any
court. The request and surrender of tools occurred both pre and
post filing of the bankruptcy Petition. With the predatory actions
of this group, Revelant immediately filed its Petition.

Class 2 consists of the Secured Claim of the Colorado Department of
Revenue in the amount of $698.00 pursuant to C.R.S. § 39-22 604.
The Class 2 claim is unimpaired. This Claim is de minimums as it
will be paid in full by the Debtor prior to confirmation as set
forth in the narrative for Class 1 claims. The class 2 claim of the
Colorado Department of Revenue is unimpaired.

Class 3 consists of Allowed Unsecured Creditors Excluding Class 4.
The Allowed Claims of the Unsecured Creditors shall be paid their
Pro Rata share of Debtor's Net Cash Flow for the 5 years following
the Confirmation Order; however, until the Disputed Priority Claims
of Synergetic and Herman (Class 1), and the Unsecured Disputed
Claims of Synergetic and Herman (Class 4) are determined by a Final
Order of the Bankruptcy Court in the IP Adversary Case or other
Federal or State Court, before which the claims between the parties
are to be litigated, all Net Cash Flow and Avoidance Claims
recoveries shall be deposited into the Plan Payment Fund.

Should the Class 4 creditors (Synergetic and Herman) obtain a
judgment (in the IP Adversary Case or otherwise) in their favor,
that outcome may impact the reorganized Debtor's ability to
continue operations as an ongoing concern and pay creditors in
accordance with the Plan. However, Avoidance Claims recoveries
shall be paid to unsecured creditors irrespective of the outcome of
the intellectual property claims being litigated in the IP
Adversary Case. Alternatively, should a Final Order be entered in
Debtor's favor (in the IP Adversary Case or otherwise), or a
settlement is reached with an allowed unsecured claim in favor of
the Class 4 creditors, this amount shall be calculated in
conjunction with the allowed Class 3 claims to determine the Pro
Rata distributions to be made to both Classes from the Plan Payment
Fund. The Class 3 claims are impaired.

Class 4 consists of the Disputed Claims of Synergetic Oil Tools,
Inc. and Brian Herman. The Class 4 claims shall be litigated to
finality in the IP Adversary Case pending in the Bankruptcy Court
or other Federal or State Courts. At best, Synergetic and Herman
have a Class 4 disputed general unsecured claims. The remedy for
the breach of contract upon which Synergetic and Herman rely is a
general unsecured claim for damages.

Such claims will be litigated to finality in the Adversary case or
another forum decided by this Court. Should the Class 4 creditors
(Synergetic and Herman) prevail in the IP Adversary Case with
respect to the intellectual property claims, it would likely obtain
a damage award which would be an unsecured claim. Should the Class
4 creditors obtain a judgment in their favor in the IP Adversary
Case, and such judgment results in Synergetic's entitlement to
receive the Net Cash Flow deposited into the Plan Payment Fund,
this money shall be distributed to Synergetic first to be applied
to its allowed administrative claim, if any, with the balance
applied to the judgment.

Under such circumstances, the Avoidance Claims recoveries of
$1,865,000 will be distributed Pro Rata to all Class 3 and 4
creditors. On the other hand, if Debtor obtains a judgment in the
IP Adversary Case with respect to the intellectual property claims,
or a settlement is reached, all Class 3 and Class 4 creditors'
allowed claims shall be combined to calculate the Pro Rata
distributions to be made to both Classes from the Plan Payment
Fund. Class 4 is impaired.

Class 5 consists of the equity interests in the Debtor. The equity
class members shall retain their interests. Class 5 is unimpaired.


On the Effective Date, Debtor shall establish the Plan Payment Fund
from which all Unsecured Claims will be paid. This date is
projected to be February 15, 2022. The Debtor shall continue to
prosecute the IP Adversary Case including the Avoidance Claims,
claims objections, and other claims if economically warranted.

A Plan Payment Fund will be established into which will be paid
annually 75% of Debtor's Net Cash Flow, in addition to the
Avoidance Claims recoveries. Unless the Bankruptcy Court orders
otherwise, the Plan Payment Fund account shall comply with the
provisions of § 345 of the Bankruptcy Code. Once the claims in
Class 4 are known and thus prorations can be determined,
distribution shall be made from the Plan Payment Fund to creditors
within 30 days from the date the Class 4 creditors' allowance or
disallowance of entitlement to payment becomes a Final Order of the
Bankruptcy Court or other court of competent jurisdiction

A full-text copy of the Second Amended Plan of Reorganization dated
October 22, 2021, is available at https://bit.ly/3En0asQ from
PacerMonitor.com at no charge.

Attorneys for the Debtor:
   
     Jeffrey A. Weinman, Esq.
     WEINMAN & ASSOCIATES, P.C.
     730 17th Street, Suite 240
     Denver, CO 80202-3506
     Telephone: (303) 572-1010
     Facsimile: (303) 572-1011
     E-mail: jweinman@weinmanpc.com  

           - and -

     Patrick D. Vellone, #15284
     Rachel A. Sternlieb, #51404
     Allen Vellone Wolf Helfrich & Factor P.C.
     1600 Stout Street, Suite 1900
     Denver, CO 80202
     Tel: 303-534-4499
     E-mail: Pvellone@allen-vellone.com
     E-mail: Rsternlieb@allen-vellone.com

                    About Revelant Holdings

Revelant Holdings, LLC -- https://revelant.com -- is a technology
company bringing the Enercat tool to the oil and gas industry as an
entirely new and innovative way to improve the properties of fluids
downhole and at the surface. With its corporate office now in
Houston and four regional USA offices serving the oil and gas
industry, Revelant is currently focusing on the Permian Basin,
Eagle Ford, Mid-Continent and San Juan Basin.

Revelant Holdings filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No.
20-16717) on Oct. 12, 2020.  W. Tracy Fotiades, president, signed
the petition.  At the time of the filing, the Debtor had between $1
million and $10 million in both assets and liabilities.  

Judge Michael E. Romero oversees the case.  

The Debtor tapped Weinman & Associates, P.C. and Wrinkle Gardner
and Company as its legal counsel and accountant, respectively.


ROCKDALE MARCELLUS: $60MM Loan, Cash Collateral Use Win Final OK
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
has authorized Rockdale Marcellus Holdings, LLC and Rockdale
Marcellus, LLC to, among other things, use cash collateral and
obtain postpetition financing on a final basis.

The Debtor is permitted to obtain senior secured postpetition
financing on a superpriority basis consisting of a senior secured
superpriority credit facility in the aggregate principal amount of
$60 million consisting of (a) a $20 million new money term loan
available upon entry of the Final Order and (b) a $40 million
roll-up upon entry of the Interim Order, which in the aggregate
consists of the Prepetition RBL Obligations and J. Aron Hedge Early
Termination Claim subject to the terms and conditions of the DIP
Orders and the Senior Secured, Super-Priority Debtor-In-Possession
Credit Agreement, by and among the Borrower and other credit
parties thereto, Delaware Trust Company, as Administrative Agent,
and the lenders party thereto.

The Debtors have an immediate and ongoing need to use Cash
Collateral and obtain credit on a final basis pursuant to the DIP
Facility in order to, among other things, administer and preserve
the value of their estates.

Entities with interests in the cash collateral include:

   a. the Prepetition RBL Parties (the Prepetition RBL Lenders and
Delaware Trust Company, as successor administrative agent and
collateral agent to Citizens Bank, N.A.);

   b. the Designated Third Party Hedge Providers (the Prepetition
RBL Lenders, Shell Trading Risk Management, LLC and J. Aron &
Company); and

   c. the Prepetition Second Lien Parties (the Prepetition Second
Lien Lenders and White Oak Global Advisors, LLC, as administrative
agent and collateral agent).

As of the Petition Date and after giving effect to the prepetition
cash sweep, the aggregate principal amount of outstanding
Prepetition RBL Loans under the Prepetition RBL Facility was
$111,477,337. The proper termination of the J. Aron Hedge resulted
in a secured claim against the Debtors for $5,303,453.

As of the Petition Date, Shell had not terminated the Shell Hedge.
The Debtors intend to continue paying the monthly hedge settlements
to Shell as they become due during the case consistent with the
terms of the Shell Hedge.   

The Prepetition RBL Agent (for the benefit of itself, the
Prepetition RBL Lenders, and the Designated Third Party Hedge
Providers) was granted a first priority security interest in and
lien on substantially all of the Debtors' assets and property.  The
Prepetition Second Lien Parties have a second lien position.

The Prepetition RBL Agent is authorized to transfer $214,149.68 of
the Undisbursed Balance remaining on deposit in the DTC Collateral
Reserve Account to J. Aron for application in reduction of the J.
Aron Hedge Early Termination Claim. Following the transfer to J.
Aron, the remaining Undisbursed Balance of $749,910.25 will remain
on deposit in the DTC Collateral Reserve Account pending further
Court order.

As adequate protection for the Debtors' use of cash collateral, the
Prepetition RBL Agent, for the benefit of itself, the Prepetition
RBL Parties and J. Aron are granted continuing, valid, binding,
enforceable, non-avoidable and automatically perfected postpetition
security interests in and liens on all of the DIP Collateral.

As adequate protection of the interests of the Prepetition Second
Lien Parties and Shell in the Prepetition Collateral against any
Diminution in Value of such interests in the Prepetition
Collateral, the Debtors have granted to the Prepetition Second Lien
Agent, for the benefit of itself and the Prepetition Second Lien
Parties, and Shell continuing, valid, binding, enforceable,
non-avoidable and automatically perfected postpetition security
interests in and liens on all of the DIP Collateral.

As further adequate protection, the Prepetition RBL Parties, J.
Aron, the Prepetition Second Lien Parties and Shell are granted
allowed superpriority administrative claims in each of the Cases
and any Successor Cases under sections 503 and 507(b) of the
Bankruptcy Code.

A copy of the Court's 93-page final order and the DIP Credit
Agreement is available for free at https://bit.ly/3lYCvss from
Epiq, claims agent.

                      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 PA counties.

On Sept. 21, 2021, Rockdale Marcellus, LLC and Rockdale Marcellus
Holdings, LLC filed petitions seeking relief under chapter 11 of
the United States Bankruptcy Code (Bankr. W.D. Pa. Lead Case No.
21-22080).  The Debtors' cases have been assigned to Judge Gregory
L. Taddonio.

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

Reed Smith LLP is serving as the Debtors' counsel.  Huron
Consulting Services LLC is the restructuring advisor. Houlihan
Lokey Capital, Inc., is the investment banker.  Epiq is the claims
agent.



SEADRILL LIMITED: Updates Unsecured Claims Details; Amends Plan
---------------------------------------------------------------
Seadrill Limited, et al., submitted a Second Amended Joint Chapter
11 Plan of Reorganization dated October 22, 2021.

The Debtors seek to consummate the Restructuring Transactions on
the Effective Date of the Plan. Each Debtor is a proponent of the
Plan within the meaning of section 1129 of the Bankruptcy Code. The
Plan does not contemplate substantive consolidation of any of the
Debtors.

                   New Second Lien Facility

The Debtors or Reorganized Debtors, as applicable, shall, pursuant
to the Description of Transaction Steps, enter into the New Second
Lien Facility on or before the Effective Date, on the terms set
forth in the New Second Lien Facility Finance Documents, and
included in the Plan Supplement. The Prepetition Credit Facilities
will be amended, restated, and combined into one single facility,
in the form of the New Second Lien Facility, which will govern the
amount of Credit Agreement Claims being reinstated as debt under
the New Second Lien Facility.

                      Net Scrap Proceeds

On the Effective Date, and thereafter as Net Scrap Proceeds are
received from time to time for sales that were significantly
progressed and scheduled to be consummated before the Effective
Date (but ultimately were not so consummated), holders of Allowed
Credit Agreement Claims shall receive their Pro Rata share of Cash
equal to the Net Scrap Proceeds attributable to the relevant
Prepetition Credit Facility under which such Allowed Credit
Agreement Claims arise as such Net Scrap Proceeds are received
Notwithstanding anything to the contrary, each holder of an Allowed
$1.75B Credit Agreement Claim shall receive in Cash its pro rata
share of the net proceeds of the Sevan Driller and Sevan Brasil
Rigs upon their disposition, and each holder of an Allowed $1.35B
Credit Agreement Claim shall receive in Cash its pro rata share of
the net proceeds of the West Orion Rig upon its disposition,
regardless of whether each such disposition occurs prior to or
after the Effective Date, and regardless of the total amount of
Allowed $1.75B Credit Agreement Claims and Allowed $1.35B Credit
Agreement Claims, respectively.


Prior to the Effective Date, the Debtors shall pay all fees due and
payable and shall File monthly reports in a form reasonably
acceptable to the U.S. Trustee. On or after the Effective Date, the
Reorganized Debtors shall pay any and all fees when due and
payable, and shall File with the Bankruptcy Court quarterly reports
in a form reasonably acceptable to the U.S. Trustee. Each
Reorganized Debtor shall remain obligated to pay all fees to the
U.S. Trustee until the applicable Debtor's Chapter 11 Case is
closed.

On the Effective Date, the Reorganized Debtors, including
Reorganized Seadrill, shall consummate the Rights Offering in
accordance with the Rights Offering Procedures, the Backstop
Commitment Letter, the Plan, and the New Credit Facility Term
Sheet.

"General Unsecured Claim" means any unsecured Claim against a
Debtor that is not: (a) paid in full prior to the Effective Date
pursuant to an order of the Bankruptcy Court; (b) an Administrative
Claim; (c) any portion of a Credit Agreement Claim that is a
Secured Claim; (d) an Intercompany Claim; (e) a Claim under section
510(b) of the Bankruptcy Code; (f) an Other Priority Claim; (g) an
Other Secured Claim; (h) a Priority Tax Claim; (i) a Professional
Fee Claim; (j) a Specified Trade Claim; or (k) any Claim for
damages arising from the rejection of the Prepetition Linus
Charters, solely in the amount of the applicable pledged earnings
accounts and receivables as of the Effective Date. For the
avoidance of doubt, the following are General Unsecured Claims: (a)
any portion of a Credit Agreement Claim that is not a Secured Claim
(b) any Claim that arises out of the rejection of the Prepetition
Taurus Charter; and (c) any portion of a Claim that arises out of
the rejection of the Prepetition Linus Charters in excess of the
amount of the applicable pledged earnings accounts and receivables
as of the Effective Date.

"Seadrill ECA" means each of (a) the Export-Import Bank of Korea
and (b) Korea Trade Insurance Corporation, and any affiliate of (a)
and (b), in each case in its capacity solely as a provider of a
Seadrill ECA Guarantee (including, for the avoidance of doubt, in
circumstances where the Credit Agreement Claims of one or more ECA
Covered Lenders have been transferred to such provider in
accordance with the terms of such Seadrill ECA Guarantee).

"Seadrill ECA Guarantee" means any guarantee granted or insurance
policy issued by a Seadrill ECA under which such Seadrill ECA has
agreed to provide cover to an ECA Covered Lender under and in
connection with each relevant obligor's obligations under one or
more Prepetition Credit Agreements, in each case, in accordance
with the general terms and conditions of that guarantee or
insurance policy.

Co-Counsel to the Debtors:

     Matthew D. Cavenaugh
     Jennifer F. Wertz
     Vienna F. Anaya
     Victoria Argeroplos (TX Bar No. 24105799)
     JACKSON WALKER L.L.P.
     1401 McKinney Street, Suite 1900
     Houston, TX 77010
     Telephone: (713) 752-4200
     Facsimile: (713) 752-4221
     Email: mcavenaugh@jw.com
            jwertz@jw.com
            vanaya@jw.com
            vargeroplos@jw.com

Co-Counsel to the Debtors:

     Anup Sathy, P.C.
     Ross M. Kwasteniet, P.C.
     Brad Weiland
     Spencer Winters
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     300 North LaSalle Street
     Chicago, Illinois 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: asathy@kirkland.com
            rkwasteniet@kirkland.com
            bweiland@kirkland.com
            spencer.winters@kirkland.com

           - and -

     Christopher Marcus, P.C.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     Email: cmarcus@kirkland.com

                        About Seadrill Ltd.

Seadrill Limited (OSE:SDRL, OTCQX:SDRLF) --
http://www.seapdrill.com/-- is a deepwater drilling contractor
providing drilling services to the oil and gas industry. As of
March 31, 2018, it had a fleet of over 35 offshore drilling units
that include 12 semi-submersible rigs, 7 drillships, and 16 jack up
rigs.

On Sept. 12, 2017, Seadrill Limited sought Chapter 11 protection
after reaching terms of a reorganization plan that would
restructure $8 billion of funded debt. It emerged from bankruptcy
in July 2018.

Demand for exploration and drilling has fallen further during the
COVID-19 pandemic as oil firms seek to preserve cash, idling more
rigs and leading to additional overcapacity among companies serving
the industry.

In June 2020, Seadrill wrote down the value of its rigs by $1.2
billion and said it planned to scrap 10 rigs. Seadrill said it is
in talks with lenders on a restructuring of its $5.7 billion bank
debt.

Seadrill Partners LLC, a limited liability company formed by deep
water drilling contractor Seadrill Ltd. to own, operate and acquire
offshore drilling rigs, along with its affiliates, sought Chapter
11 protection (Bankr. S.D. Tex. Lead Case No. 20-35740) on Dec. 1,
2020, after its parent company swept one of its bank accounts to
pay disputed management fees. Mohsin Y. Meghji, authorized
signatory, signed the petitions.

On Feb. 7, 2021, Seadrill GCC Operations Ltd., Asia Offshore
Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2
Limited, and Asia Offshore Rig 3 Limited sought Chapter 11
protection.  Seadrill GCC estimated $100 million to $500 million in
assets and liabilities as of the bankruptcy filing.

Additionally, on Feb. 10, 2021, Seadrill Limited and 114 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code with the Court. The lead case
is In re Seadrill Limited (Bankr. S.D. Tex. Case No. 21-30427).

Seadrill Limited disclosed $7.291 billion in assets against $7.193
billion in liabilities as of the bankruptcy filing.

In the new Chapter 11 cases, the Debtors tapped Kirkland & Ellis
LLP as counsel; Houlihan Lokey, Inc. as financial advisor; Alvarez
& Marsal North America, LLC as restructuring advisor; Jackson
Walker LLP as co-bankruptcy counsel; Slaughter and May as co
corporate counsel; Advokatfirmaet Thommessen AS as Norwegian
counsel; and Conyers Dill & Pearman as Bermuda counsel. Prime Clerk
LLC is the claims agent.

On April 9, 2021, the board of directors of Debtor Seadrill North
Atlantic Holdings Limited unanimously adopted resolutions
appointing Steven G. Panagos and Jeffrey S. Stein as independent
directors to the board.  Seadrill North Atlantic Holdings Limited
tapped Katten Muchin Rosenman LLP as counsel and AMA Capital
Partners, LLC as financial advisor at the sole direction of
independent directors.


SLM CORP: Moody's Rates Unsecured Debt Ba1 & Alters Outlook to Pos.
-------------------------------------------------------------------
Moody's Investors Service has affirmed the ratings and assessments
of SLM Corporation and its bank subsidiary, Sallie Mae Bank,
including the baa3 standalone baseline credit assessment (BCA) of
the bank. SLM's long-term senior unsecured debt is rated Ba1 and
the bank subsidiary has a long-term deposit rating of Baa1. Sallie
Mae Bank has a Prime-2 short-term deposit rating and Baa3/Prime-3
Counterparty Risk Ratings.

The outlooks on SLM and its bank subsidiary were revised to
positive from stable reflecting Moody's expectation that the
company's strong historical profitability and disciplined
underwriting can be sustained and that the implementation of the
Current Expected Credit Losses (CECL) accounting standard combined
with fully phased-in bank regulatory capital requirements will
require the firm to increase its ability to absorb higher loan
losses . Furthermore, the recent slowdown in balance sheet growth,
if sustained, would also be credit positive as it reduces the
company's incremental funding requirements.

Affirmations:

Issuer: SLM Corporation

LT Issuer Rating (Local Currency), Affirmed Ba1, Positive from
Stable

Pref. Stock Non-cumulative (Local Currency), Affirmed Ba3 (hyb)

Senior Unsecured Regular Bond/Debenture (Local Currency), Affirmed
Ba1, Positive from Stable

Issuer: Sallie Mae Bank

Adjusted Baseline Credit Assessment, Affirmed baa3

Baseline Credit Assessment, Affirmed baa3

ST Counterparty Risk Assessment, Affirmed P-2(cr)

LT Counterparty Risk Assessment, Affirmed Baa2(cr)

ST Counterparty Risk Rating (Foreign Currency), Affirmed P-3

ST Counterparty Risk Rating (Local Currency), Affirmed P-3

LT Counterparty Risk Rating (Foreign Currency), Affirmed Baa3

LT Counterparty Risk Rating (Local Currency), Affirmed Baa3

LT Issuer Rating (Local Currency), Affirmed Ba1, Positive from
Stable

ST Deposit Rating (Local Currency), Affirmed P-2

LT Deposit Rating (Local Currency), Affirmed Baa1, Positive from
Stable

Outlook Actions:

Issuer: Sallie Mae Bank

Outlook, Changed To Positive From Stable

Issuer: SLM Corporation

Outlook, Changed To Positive From Stable

RATINGS RATIONALE

The affirmation of Sally Mae Bank's baa3 BCA and of all ratings and
assessments for both SLM and Sally Mae Bank reflects Moody's
unchanged view of the bank's standalone credit profile, which
remains positioned three notches below the current a3 median BCA of
Moody's US-rated regional banks. The baa3 BCA incorporates the
benefits to creditors from its good capitalization, which allows
the bank to absorb unexpected losses, particularly during time of
stress. The BCA also takes into consideration the risks to
creditors stemming from SLM's elevated exposure to economic shocks
as a result of its student loan concentration, typically leading to
higher than average charge-offs compared to the more diversified
loan portfolios of US regional bank peers, and high regulatory
risk.

SLM is the largest originator of private education loans in the US
with a market share of more than 50%. As of June 30, 2021, SLM had
$28.9 billion of total assets and $20.5 billion of private
education loans outstanding.

With 96% of loans outstanding as of June 30, 2021, SLM's education
lending business is concentrated in the US private student loan
market and is heavily reliant on net interest income, making it
vulnerable to economic shocks which can adversely affect its
borrowers, as well as regulatory and legislative risks.

Moody's believes that SLM's leading private student loan lending
franchise drives its strong position as one of the most profitable
Moody's-rated US banks. In 2020, the company began selling around
one-third to one-half of annual originations, materially increasing
its return on assets to 5.4% for the first six months of 2021 and
2.9% in 2020 from 1.8% in 2019 and 2018. Absent loan sales, Moody's
expects the company's return on assets would range between 1.75% to
2.0%, well above the median US rated bank of around 1.1%, for the
first six months of 2021.

Moody's estimates that the bank's tangible common equity (TCE) was
8.9% of risk weighted assets as of June 30, 2021. The January 1,
2020 implementation of Current Expected Credit Losses (CECL)
accounting standard in 2020, prompted a material 249% increase in
loan loss reserves, driving down the bank's TCE ratio. However,
Moody's estimates that the bank's capacity to absorb credit losses
was comparable with TCE plus reserves of $3.23 billion as of Q2
2021, versus $3.37 billion as of year-end 2019.

SLM's funding structure is weak relative to its rated peers because
of its reliance on brokered deposits and savings accounts. SLM has
among the highest combined reliance on brokered deposits and
savings accounts among its US regional bank peers. Brokered
deposits enable SLM to obtain funding with longer maturities that
are better matched to the seven-year average life of the company's
loan portfolio, but they are often less 'sticky' and therefore pose
greater refinancing risk and higher cost than branch-based deposits
or transaction accounts.

Moody's assesses that as a student loan provider, SLM faces high
regulatory risk, weighing on its asset risk assessment. As student
debt service increasingly weighs on household finances, there have
been many proposed measures to alleviate the burden, such as
federal student loan forgiveness and reduced college tuition. While
the likelihood of enactment has decreased, particularly in the
short-term, a large-scale program to reduce the cost of higher
education or refinance private student loans with direct loans
funded by the US government would be credit negative for private
student loan lenders and servicers, particularly those concentrated
in the market, such as SLM. While repayment at par would result in
lenders not incurring credit losses on forgiven loans, a reduction
in lenders' loan portfolios would deprive lenders of future net
interest income and servicers of future servicing income and a
reduction in higher education costs would likely reduce future
demand for SLM's private student loans.

The change in outlook to positive from stable reflects Moody's
expectation that the company's strong profitability and solid risk
management can be sustained, and also reflects the rating agency's
expectation that the company's ability to absorb credit losses will
improve. In addition, the loan sales have slowed the company's
rapid balance sheet growth, a credit positive, as it has reduced
the company's previously large incremental funding needs, reducing
refinancing risk.

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

The baa3 BCA could be upgraded if the firm continues to achieve
solid profitability, maintains disciplined underwriting and
capitalization improves such that tangible common equity to risk
weighted assets increases and is expected to remain above 9.0%. In
addition, the BCA could be upgraded if the company continues to
improve its funding profile, increasing its reliance on direct
deposits, thereby reducing its dependence on confidence-sensitive
wholesale funding and brokered deposits, further lowering its
refinancing risk. A higher BCA would likely lead to a ratings
upgrade.

The baa3 BCA could be downgraded if capitalization weakens
materially, such as tangible common equity to risk weighted assets
falling below and expected to remain below 8.0%. In addition, the
BCA could be downgraded in the event that asset performance is
weaker than Moody's currently expects or if liquid resources
decline materially, making the firm vulnerable to market shocks. A
lower BCA would likely lead to a ratings downgrade.

The principal methodology used in these ratings was Banks
Methodology published in July 2021.


SUAMIT LLC: Unsecureds to Get $2,965 per Month for 18 Months
------------------------------------------------------------
Suamit LLC filed with the U.S. Bankruptcy Court for the District of
New Jersey a Modified Plan of Reorganization dated October 22,
2021.

The Debtor is a restaurant serving Indian and Indian inspired
cuisine. Until recently, the Debtor provided only pick-up and
delivery services. In the late spring of 2021, the New Jersey state
of emergency limiting indoor dining was lifted and the Debtor now
offers on premises dining and a small banquet hall for events.

The Debtor experienced financial difficulties coming out of the
gate due to unexpected delays in renovations prior to opening its
doors. Contributing to its difficulties, the managing member,
Sukhdev Kabow, suffered a medical setback when he was diagnosed
with cancer in 2018. The Debtor fell behind on its rent payments to
its landlord. At the time of filing, the Debtor's arrears to the
landlord totaled $141,100.02. Since filing it petition, the Debtor
has worked with its landlord and agreed on a plan to repay its
arrears and enter into a lease extension that includes an option to
purchase the property at the end of the lease.

The proposed Plan of Reorganization will be funded by estimated
funds on hand upon the effective date, income from business
operations and a loan in the amount of $141,100.00, the amount of
pre-petition arrears pursuant to the Debtor-in-Possession's lease
of the restaurant space with landlord. Commencing on the Effective
Date of the Plan, the Debtor will pay the administrative expense
fees of the Subchapter V Trustee and Debtor's retained accountant,
plus counsel fees and expenses of the Moretsky Law Firm and the Law
Offices of David Paul Daniels, estimated to total $26,000.00, net
of retainer of $8,000 already paid to counsel prior to filing.

The Debtor will assume the lease with its landlord, Sang Tuck
Cheah, and enter into a lease extension upon payment of the pre
petition arrears on the Effective Date. The total amount of pre
petition arrears to be cured is $141,100.02. At the time of the
petition date, the Debtor had a lease with Ford Motor Credit
Company, LLC for a vehicle used by Debtor for delivery. The lease
has since terminated and Ford obtained relief from the automatic
stay. It has repossessed the vehicle. At this time, Debtor has not
received notice of any deficiency. If Ford files a general
unsecured proof of claim for a deficiency amount that is accepted,
it shall be treated as a general unsecured creditor.

The Debtor is current with all its tax payments, both pre-petition
and post-petition. Accordingly, no priority payments need to be
made to the Internal Revenue Service or other taxing authorities.

The Debtor's unsecured PPP loan from Quaint Oak Bank in the amount
of $51,123.03 has been forgiven in accordance with PPP Loan
Forgiveness policy.

The unsecured claim of the Small Business Administration in the
form of an SBA Economic Injury Disaster loan for $150,000.00 will
be paid in full in accordance with its terms, namely monthly
payments of $731.00 for 30 years.

The remaining unsecured claims in the amount of $53,382.60 shall be
paid in full from the Debtor's disposable income in monthly
installments of $2,965.70 for eighteen 18 months. Disbursements
shall be made to this class of creditors on a monthly basis
beginning on the Effective Date of the Plan.

A full-text copy of the Modified Plan of Reorganization dated
October 22, 2021, is available at https://bit.ly/2ZsEdtd from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Tamika N. Wyche, Esquire
     Law Offices of David Paul Daniels
     2985 Yorkship Square, Suite 1A
     Camden, New Jersey 08104

           - and -

     Alex Moretsky, Esquire
     Moretsky Law Firm
     2617 Huntingdon Pike
     Huntingdon Valley, PA 19006

                         About Suamit LLC

Suamit LLC is a restaurant serving Indian and Indian inspired
cuisine. The Debtor filed a Chapter 11 bankruptcy petition (Bankr.
D.N.J. Case No. 21-12631) on March 31, 2021, disclosing under $1
million in both assets and liabilities. Judge Andrew B. Altenburg
Jr. oversees the case. The Debtor tapped the Law Offices of David
Paul Daniels, LLC and B&B Tax & Payroll Services as legal counsel
and accountant, respectively.


TELIGENT INC: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------
The U.S. Trustee for Region 3 on Oct. 27 appointed an official
committee to represent unsecured creditors in the Chapter 11 cases
of Teligent, Inc. and its affiliates.

The committee members are:

     1. The Hewlitt Funds LP
        Attention: Jay Spinner
        100 Merrick Road, Suite 400W
        Rockville Centre, NY 11570
        Phone: 516-887-6000
        Fax: 516-887-8990
        E-mail: jay@sdccapital.com

     2. AmerisourceBergen Drug Corporation
        Attention: Melissa W. Rand
        1 West First Ave.
        Conshohocken, PA 19428
        Phone: 610-727-2734
        E-mail: melissa.rand@amerisourcebergen.com

     3. McKesson Corporation
        Attention: Ben Carlsen
        1564 Northeast Expressway
        Atlanta, GA 30329
        Phone: 404-245-8813
        E-mail: ben.carlsen@mckesson.com

     4. Eversana Life Science Services, LLC
        Attention: Franco Spraggins
        190 N. Milwaukee Ave.
        Milwaukee, WI 53202
        Phone: 414-434-4807
        E-mail: franco.spraggins@eversana.com

     5. Walgreen Company
        Attention: Darin Osmond
        104 Wilmot Road, 4th Floor, MS #144P
        Deerfield, IL 60015
        Phone: 847-315-4692
        E-mail: darin.osmond@walgreens.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 Teligent Inc.

Teligent, Inc., a specialty generic pharmaceutical company,
develops, manufactures, markets, and sells generic topical, branded
generic, and generic injectable pharmaceutical products in the
United States and Canada. The company was formerly known as IGI
Laboratories, Inc. and changed its name to Teligent, Inc. in
October 2015. Teligent, Inc. was founded in 1977 and is based in
Buena, N.J.

Teligent and three affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 21-11332) on Oct. 14, 2021.  The cases are
handled by Judge Brendan Linehan Shannon.

As of Aug. 31, 2021, Teligent had total assets of $85 million and
total debt of $135.8 million.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP and K&L
Gates, LLP as legal counsel; Raymond James & Associates, Inc. as
investment banker; PharmaBioSource Realty, LLC as real estate
consultant; and Portage Point Partners, LLC as restructuring
advisor. Vladimir Kasparov of Portage Point Partners serves as the
Debtors' chief restructuring officer.  Epiq Corporate
Restructuring, LLC is the claims and noticing agent and
administrative advisor.


TEVA PHARMACEUTICAL: S&P Assigns 'BB-' Rating on Unsecured Notes
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '3'
recovery rating to euro-denominated and U.S.-dollar-denominated
senior unsecured sustainability-linked notes offered by finance
subsidiaries Teva Pharmaceutical Finance Netherlands II B.V. and
Teva Pharmaceutical Finance Netherlands III B.V., respectively. The
notes carry an unconditional guarantee by parent company Teva
Pharmaceutical Industries Ltd., the same as other outstanding
senior unsecured debt.

Teva intends to offer $4 billion aggregate principal amount of
euro-denominated notes and U.S.-dollar-denominated notes, both in
one or more series. The '3' recovery rating reflects S&P's
expectation for meaningful (50%-70%; rounded estimate: 55%)
recovery in the event of a payment default.

Teva intends to use the proceeds to fund a $3.5 billion tender
offer for debt maturing 2022-2024, pay fees and expenses, redeem
debt upon maturity, and for general corporate purposes. S&P views
the transaction as essentially neutral to net leverage, but it does
increase the company's financial flexibility and liquidity by
reducing large maturities over the next three to four years.

The 'BB-' long-term issuer credit rating on parent Teva is
unchanged. The outlook is stable.

S&P said, "Our ratings on Teva reflect its large scale, leading
position in generic drug development, and its specialty drug
business, in which the uptake of Austedo and Ajovi is mostly
offsetting revenue declines of Copaxone. The company has strong
geographic and product diversification. We believe the global
generics market is highly competitive but less volatile compared to
the 2017-2019 timeframe. Partly offsetting strengths, Teva is
exposed to material litigation on multiple fronts including related
to its sales of opioid products and claims of generic price-fixing.
We believe Teva has capacity at the current rating for an
incremental $4 billion to $6 billion of incremental litigation
liability on top of our current estimate of $2.5 billion to $3
billion. In 2021 and 2022, We expect adj. free cash flow of about
$2.35 to 2.45 billion and funds from operations to debt in the
12%-15% range.



U.S. TOBACCO: Court Denies Stubbs & Perdue's Bid to Form Committee
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina denied the motion filed by the law firm of Stubbs &
Perdue, P.A. to form a special committee that will represent
members of U.S. Tobacco Cooperative Inc. in its Chapter 11 case.

In the Oct. 27 decision signed by Judge Joseph Callaway, the court
said Stubbs & Perdue "lacked standing to bring the motion."

"Stubbs & Perdue is neither a party-in-interest in this case nor
does it represent such a person or entity," the court said.
"Because the motion was fatally deficient at filing, it must be
dismissed."

The court further said that in addition to the procedural flaw, the
motion lacks merit as well.

"The record shows that the current [board of directors] adequately
represents the interest of the present member-growers," the court
said.  It cited the plan of reorganization filed by U.S. Tobacco
that leaves the status of the present member-growers intact and how
the cooperative continues its litigation with the largest
representative creditor class in its Chapter 11 case in a competent
manner.

"[U.S. Tobacco's counsel] forecast no benefit to the estate or
creditors from creation of a special member-growers equity
committee, and any marginal benefit would be outweighed by the
resultant substantial increase in attorney fees, inevitable delay,
and confusion inherent in forming such a committee at this point in
case," the court further said.

On Aug. 27, Stubbs & Perdue asked the court to approve the
formation of a special committee to eliminate the need for
individual participation by over 500 current member-growers.  The
law firm claims to represent a group comprised of current members
of U.S. Tobacco who grow leaf tobacco for purchase by the
cooperative under an annual marketing agreement.

                  About U.S. Tobacco Cooperative

U.S. Tobacco Cooperative Inc. 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.


UNIVERSITY OF HAWAII: Moody's Rates $76MM 2021 Revenue Bonds 'Ba1'
------------------------------------------------------------------
Moody's Investors Service has assigned an initial Ba1 rating to the
proposed $76.905 million Public Finance Authority's Student Housing
Revenue Bonds (University of Hawai'i Foundation Project) Senior
Series 2021A-1 (Tax-Exempt) & Senior Series 2021A-2 (Taxable)
(collectively the "2021 Senior Bonds" or the "Bonds"). The outlook
is stable.

RATINGS RATIONALE

The Ba1 rating reflects the University of Hawai'i Foundation ("UHF"
or the "Foundation") Project's strong legal provisions, sound
financial projections, and strong support from UHF which is
evidenced by the project's legal documents including the
affiliation agreement. The rating also incorporates the presence of
construction risk associated with the development which includes a
374 bed student housing component, that is mitigated by the
presence of capitalized interest funded in excess of six months
beyond project delivery and lease up, and an experienced project
development and management team. Although UHF is not rated by
Moody's, the University of Hawaii ("UH") is rated Aa3/Stable.

A social consideration was the demographics of targeted student
tenants and societal trends around the affordability of higher
education including the costs of housing as a determinative of the
project's competitive advantage. As students have other options,
the project's price point is material to the rating. Additionally,
Moody's regard the coronavirus outbreak as a social risk under
Moody's ESG framework, given the substantial implications for
public health and safety.

RATING OUTLOOK

The stable outlook incorporates the projected financial performance
and UHF support.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

Superior occupancy that drives strong rental revenue growth and
debt service coverage performance

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

Prolonged construction delays that impair delivery of the project
in time for fall 2023 occupancy

Initial lease-up exhibiting low occupancy or rent levels that
result in weaker-than-expected financial performance

LEGAL SECURITY

The debt obligation of UHF RISE Student Housing LLC, (the
"Borrower" or "UHF RISE") are secured under a Loan Agreement and
Series 2021 Notes with the Issuer, Public Housing Authority. The
Borrower will grant to the Trustee a mortgage for the benefit of
bondholders, a first mortgage on the Borrower's pledge of its
interest in all proceeds, rents, revenues, income and funds of the
project.

USE OF PROCEEDS

Bond proceeds will be used to finance (a) the acquisition,
development, construction and equipping of a new building
consisting of a 220 Unit/374 bed student housing facility, an
entrepreneurial incubator space, a commercial office facility and a
retail facility to be constructed on land located adjacent to the
campus of the University of Hawai'i at Manoa; (b) fund debt service
reserves for the 2021 Senior Bonds, (c) fund capitalized interest
on the 2021 Senior Bonds, (d) fund an operating reserve fund, (e)
fund a coverage reserve fund, and (f) pay certain costs of issuance
of the 2021 Senior Bonds.

PROFILE

UHF RISE Student Housing LLC, the Borrower, is a single member
limited liability company duly formed, validly existing and in good
standing under the laws of the State of Hawai'i. The Borrower was
formed in 2021, specifically for the purpose of acquiring and
financing the Project. The Borrower is not expected to have any
assets other than the Facilities and its leasehold interest in the
Property pursuant to the Ground Lease. The sole member of the
Borrower is UHF.

The Foundation was established in 1955 to encourage private support
for the University. Today it is the central fundraising
organization for the UH System and is contracted by the Board of
Regents to be the sole provider of fundraising and alumni services.
In addition to fundraising, the Foundation manages more than 6,000
gift accounts for the benefit of the University and its students.

The Foundation is a private, institutionally related corporation
designated as a 501(c)(3) organization by the Internal Revenue
Service. It is a legally separate entity from the University of
Hawai'i, the UH Alumni Association, and all other UH affiliates.
However, the Foundation works closely with these organizations, as
well as with others in the community, exclusively for the benefit
of the University.

METHODOLOGY

The principal methodology used in these ratings was Global Housing
Projects published in June 2017.


US VIRGIN ISLANDS: Moody's Affirms 'Caa3' Issuer Rating
-------------------------------------------------------
Moody's Investors Service has affirmed the Government of U.S.
Virgin Islands' (USVI) Caa3 issuer rating. Moody's have also
affirmed the Caa2 rating on USVI's outstanding senior lien matching
fund revenue bonds and the Caa3 ratings on USVI's outstanding
subordinate lien matching fund revenue bonds, including Diageo
project subordinated revenue bonds and Cruzan project subordinated
revenue bonds. The outlook is stable. USVI has a total of $598
million of senior lien matching fund revenue bonds, $111 million of
subordinate lien matching fund revenue bonds, $209 million of Diego
project subordinated revenue bonds and $32 million of Cruzan
project subordinated revenue bonds outstanding.

RATINGS RATIONALE

The US Virgin Islands' Caa3 issuer rating reflects a small and
highly concentrated economy, severely strained government finances,
a very poorly funded pension system that is rapidly depleting its
asset base, financial reporting and other governance challenges,
the government's loss of capital markets access since 2017 and
substantial liquidity strain that has required support from the
federal government, including federal disaster aid. The rating
incorporates the risk that a significant structural deficit
combined with the expected insolvency of the Government Employees'
Retirement System will lead the government to restructure its
debt.

The Caa2 rating on the senior lien matching fund revenue bonds,
which is one notch higher than USVI's issuer rating, recognizes
that the pledged revenue, which consists of remittances to the USVI
government from the US government of excise taxes collected on rum
produced in the territory and exported to the US, is currently paid
directly by the US Treasury to the trustee for repayment of the
bonds. Despite the payment of pledged revenue directly to the
trustee, the rating is closely tied to that of the general
government given that the bonds would likely be included in any
attempt to restructure the government's debt. The rating also
incorporates the narrow nature of the pledged revenue and high
revenue volatility offset by solid debt service coverage and
adequate legal provisions.

The Caa3 ratings on the three subordinate liens of matching fund
revenue bonds incorporates the same credit characteristics as the
senior lien bonds and the subordinate pledge of matching fund
revenue for repayment of the bonds.

RATING OUTLOOK

The stable outlook reflects the incorporation of the government's
currently weak economic and financial position in its Caa3 issuer
rating. Although the USVI has suffered from the prolonged slowdown
of tourism caused by the pandemic, federal government aid will
continue to support the territory's economy.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

For the issuer rating, sustained maintenance of structural
balance

For the issuer rating, adoption of credible plan to address the
government's large unfunded pension liability

For the matching fund revenue bonds, an upgrade of USVI's issuer
rating

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

For the issuer rating, default on government debt or initiation of
a debt restructuring and an indication of lower than expected
recovery on outstanding debt

For the issuer rating, erosion of the government's financial
position and liquidity

For the matching fund revenue bonds, a downgrade of USVI's issuer
rating

For the matching fund revenue bonds, a decline of matching fund
revenue and debt service coverage caused by a reduction in rum
shipments or the excise tax rate

For the matching fund revenue bonds, a change in the flow of funds
whereas pledged revenue is no longer diverted directly to the
trustee for payment of debt service

LEGAL SECURITY

The issuer rating is equivalent to the implied general obligation
rating of the territory.

The matching fund revenue bonds are payable from remittances to the
USVI government from the US government of excise taxes collected on
rum produced in the territory and exported to the US. Security for
the matching fund bonds is established by the trust indenture, loan
agreement, special escrow agreement and USVI statutes. The
government has pledged and assigned matching fund revenue to the
trustee for the benefit of bondholders, establishing a security
interest in the revenue. The statutes are written to create a
statutory lien on the revenue. In the loan agreement, the
government covenants to direct the US Treasury to pay the pledged
matching fund revenue directly to the trustee.

PROFILE

The US Virgin Islands is an unincorporated US territory located in
the Caribbean, approximately 60 miles east of Puerto Rico and 1,075
miles south of Miami, Florida. The territory is comprised of 68
islands, including the main islands of St. Thomas, St. Croix and
St. John. The territory's gross domestic product was $4.1 billion
in 2019.

METHODOLOGY

The principal methodology used in the issuer rating was US States
and Territories published in April 2018.


USA GYMNASTICS: Nassar Abuse Victims to Vote on Settlement Plan
---------------------------------------------------------------
Geoff Berkeley of The Inside Games reports that USA Gymnastics'
settlement proposal for athletes who endured abuse at the hands of
disgraced former team doctor Larry Nassar is set to be voted on by
victims after it was signed off by a bankruptcy judge.

Creditors and abuse survivors will be able to vote on the proposal
that could see around 500 gymnasts who were victims of Nassar's
crimes receive part of the more than $400 million (GBP290
million/EUR344 million) settlement agreed by USA Gymnastics.

The reorganisation plan was passed by judge Robyn Moberly at the
United States Bankruptcy Court for the Southern District of Indiana
in Indianapolis yesterday, October 26, 2021.

The under-fire governing body reached an agreement in principal
with a committee representing survivors of abuse by Nassar in late
August 2021.

As well as needing to gain the approval of victims, every insurance
company involved must vote in favour of the plan for it to be
confirmed.

TIG Insurance Company is the only insurer that has yet to commit to
the settlement, per Reuters.

The voting process has started with the deadline set for November
29, 2021.

The results are then due to be released on December 2, 2021.

A two-day hearing for court approval is expected to start on
December 13, 2021 should the settlement plan gain the approval of
creditors and abuse survivors.

The proposal is nearly double the one which was rejected and
criticised by many of Nassar's victims last year, totalling $215
million (£155.9 million/€181.4 million).

Michigan State University reached a $500 million (£362.6
million/€421.8 million) agreement with 332 survivors of Nassar'
crimes in 2018.

Nassar was accused by hundreds of women of abuse under the guise of
medical treatment, and is effectively serving a life sentence in
prison as a convicted serial sex offender.

Last September 2021, survivors criticised USA Gymnastics at a
Senate Judiciary Committee hearing.

Four-time Olympic champion Simone Biles accused USA Gymnastics and
the US Olympic and Paralympic Committee of allowing Nassar's abuse
of gymnasts to continue.

                     About USA Gymnastics

USA Gymnastics -- https://www.usagym.org/ -- is a not-for-profit
organization incorporated in Texas.  Based in Indianapolis,
Indiana, USAG's organization encompasses six disciplines: women's
gymnastics, men's gymnastics, trampoline and tumbling, rhythmic
gymnastics, acrobatic gymnastics, and group gymnastics.  USAG
provides educational opportunities for coaches and judges, as well
as gymnastics club owners and administrators, and sanctions
approximately 4,000 competitions and events throughout the United
States annually.  More than 200,000 athletes, professionals, and
clubs are members of USAG. USAG sets the rules and policies that
govern the sport of gymnastics in the United States, including
selecting and training the United States gymnastics teams for the
Olympics and World Championships.  As of the Petition Date, USAG
employs 53 individuals, nearly all of whom work for USAG
full-time.

USA Gymnastics sought Chapter 11 protection (Bankr. S.D. Ind. Case
No. 18-09108) on Dec. 5, 2018.  USAG estimated $50 million to $100
million in assets and the same range of liabilities as of the
bankruptcy filing.

The Hon. Robyn L. Moberly is the case judge.

USAG tapped JENNER & BLOCK LLP as counsel; ALFERS GC CONSULTING,
LLC and SCRAMBLE SYSTEMS, LLC, as business consulting services
providers; and OMNI Management Group, Inc., as claims agent.


VERTEX AEROSPACE: S&P Downgrades ICR to 'B' on Elevated Leverage
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Vertex
Aerospace Services Corp. to 'B' from 'B+' because S&P expects the
transaction to increase its leverage.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's proposed $890 million seven-year
first-lien term loan.

The stable outlook reflects its expectation that Vertex's credit
metrics will remain appropriate for the current rating through
2022.

Vertex Aerospace Services Corp. has signed a definitive agreement
to acquire Raytheon Technologies Corp.’s Defense Training,
Professional Services, Mission Critical Solutions, and
Modernization and Sustainment business lines, which it will fund
with a combination of debt and equity.

S&P said, "We expect the company's leverage to be elevated over the
near term due to the acquisition; however, we expect its leverage
will moderate beginning in 2022.Vertex's financing for the
acquisition includes a new $890 million seven-year first-lien term
loan, which along with other debt financing components, will
increase its leverage in the near term. We expect the company's S&P
Global Ratings-adjusted debt to EBITDA to be in the mid-6x area in
2022 before improving below 6x in 2023.

"The stable outlook on Vertex reflects our expectation that its
credit metrics will remain in line with the current rating as it
improves its profitability and expands its contract base. We expect
the company's debt to EBITDA to be in the mid-6x range in 2022
before decreasing below 6x in 2023. It also reflects our
expectation that the company's financial sponsor will maintain an
aggressive financial policy.

"We could lower our rating on Vertex over the next 12 months if its
leverage deteriorates such that its debt to EBITDA remains above 7x
on a sustained basis." This would likely occur if:

-- It is unable to realize the expected cost savings from its
acquisition, causing its margins to be lower than S&P expected;

-- Contrary to S&P's expectations, Vertex does not use its excess
cash for voluntary debt repayment; or

-- The company uses cash on hand to fund a significant additional
dividend to its sponsor or pursues a sizable debt-funded
acquisition.

S&P could raise its rating on Vertex over the next 12 months if its
debt to EBITDA improves below 5x and S&P expects it to remain at
that level. This would likely occur if:

-- The company is able to realize a higher-than-expected level of
synergies from the acquisition, which leads to a significant
improvement in its profitability as it adds new contracts to
further diversify its business; and

-- Its sponsor commits to maintaining leverage of less than 5x on
a sustained basis and the company does not pursue significant
debt-funded acquisitions or shareholder dividends.



VERTEX ENERGY: Proposes Private Offering of $155M Senior Notes
--------------------------------------------------------------
Vertex Energy, Inc. intends to offer, subject to market conditions
and other factors, $155 million aggregate principal amount at
maturity of its convertible senior notes due 2027 in a private
offering to persons reasonably believed to be qualified
institutional buyers and/or to "accredited investors" in reliance
on the exemption from registration provided by Section 4(a)(2) of
the Securities Act of 1933, as amended.

The notes will be senior unsecured obligations of the company, will
be issued at a price equal to 90% of the face amount of each note
and will accrue interest payable semiannually in arrears.  The
notes will be convertible into cash, shares of the Company's common
stock or a combination of cash and shares of the company's common
stock, at the company's election, provided that until such time as
the company's stockholders have approved the issuance of more than
19.99% of the company's common stock issuable upon conversion of
the notes in accordance with the rules of The Nasdaq Capital
Market, the company is required to elect "cash settlement" for all
conversion of the notes.  The interest rate, initial conversion
rate, redemption rights and other terms of the notes will be
determined at the time of pricing of the offering.

The company intends to use approximately (i) $33.7 million of the
net proceeds from the offering to fund a portion of the funds
payable in connection with the previously disclosed, pending
acquisition by Vertex Energy of a refinery located in Mobile,
Alabama, (ii) $13.0 million of the net proceeds from the offering
for certain engineering services and for the initial payments of
purchase orders for long lead-time equipment associated with a
capital project designed to modify the Mobile refinery's
hydrocracking unit to produce renewable diesel in advance of the
purchase, (iii) $10.9 million of the net proceeds from the offering
to repay amounts owed by the company under its credit facilities
with Encina Business Credit, LLC and certain of its affiliates, and
(iv) $0.4 million of the net proceeds to repay certain secured
equipment leases with certain affiliates of Wells Fargo Bank,
National Association.  The company intends to use the remainder of
the net proceeds for working capital and other general corporate
purposes, which may include debt retirement and organic and
inorganic growth initiatives, provided that the company has no
current specific plans for such uses.

The notes and the common stock issuable upon conversion of the
notes, if any, have not been and will not be registered under the
Securities Act, or any state securities laws, and unless so
registered, may not be offered or sold in the United States except
pursuant to an applicable exemption from such registration
requirements.

                        About Vertex Energy

Houston-based Vertex Energy, Inc. (NASDAQ: VTNR) is a specialty
refiner of alternative feedstocks and marketer of high-purity
petroleum products.  Vertex is one of the largest processors of
used motor oil in the U.S., with operations located in Houston and
Port Arthur (TX), Marrero (LA) and Heartland (OH).  Vertex also
co-owns a facility, Myrtle Grove, located on a 41-acre industrial
complex along the Gulf Coast in Belle Chasse, LA, with existing
hydro-processing and plant infrastructure assets, that include nine
million gallons of storage.  The Company has built a reputation as
a key supplier of Group II+ and Group III Base Oils to the
lubricant manufacturing industry throughout North America.

Vertex Energy reported a net loss attributable to the company of
$12.04 million for the year ended Dec. 31, 2020, compared to a net
loss attributable to the company of $5.05 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $135.11
million in total assets, $79.58 million in total liabilities,
$37.03 million in total temporary equity, and $18.50 million in
total equity.


VESTAVIA HILLS: Mount Royal Towers Sold for $12 Million
-------------------------------------------------------
Joshua Mann of Birmingham Business Journal reports that Vestavia
Hills Ltd, the company behind Birmingham senior living facility
Mount Royal Towers, has sold its property out of bankruptcy court
for $12 million.

Vestavia Hills Ltd. sold Mount Royal Towers, which topped the
Birmingham Business Journal's 2020 list as the largest assisted
living facility in the city, to MED Healthcare Partners LLC. The
sale took place while Vestavia Hills Ltd. was in the midst of
restructuring proceedings in California's southern district
bankruptcy court, according to public documents.

Judge Louise Adler approved the sale on Aug. 31, 2021, according to
court records.  The property is located at 300 Royal Tower Drive in
Homewood.

Vestavia Hills Ltd. originally filed for Chapter 11 bankruptcy
protections in the Southern District of California on Jan. 3, 2022.
At the time, the company listed the Mount Royal Towers property as
needing immediate attention – the property needed to be sold, and
it needed to be managed prior to the sale, it said.

At the time, Vestavia Hills Ltd. owed $29.72 million, but its
assets totaled only $18.53 million, it said. It had sought for the
past six years to refinance its largest secured loan or sell its
assets, said CEO Kevin Moriarty in a declaration to the court.

During that time, it reached a sale agreement with Commonwealth
Assisted Living LLC, but reached an impasse in negotiations that
lasted for years and halted its efforts to seek other buyers,
Moriarty said.  Eventually, that brought the company to the
bankruptcy court, he said.

MED Healthcare, which was the stalking-horse bidder for the
bankruptcy sale, is a skilled nursing care company. Mount Royal
Towers isn't the only bankruptcy senior living facility Med
Healthcare has bought out this 2021. The company also was the
stalking-horse bidder – and eventual winning bidder – for Henry
Ford Village in Dearborn, Michigan, according to a news release by
that organization on March 30.

At that time, the release said Med Healthcare operated five
continuing-care retirement facilities, 150 skilled nursing
facilities and 20 assisted living and memory care facilities.

Neither Med Healthcare nor Vestavia Hills Ltd.'s attorney responded
to BBJ inquiries.

                   About Vestavia Hills Ltd.

Vestavia Hills, Ltd., which conducts business under the name Mount
Royal Towers, operates a continuing care retirement community and
assisted living facility for the elderly in Vestavia Hills, Ala.
It offers individualized senior living options for a convenient
community lifestyle and provides personalized nursing care.

Vestavia Hills sought Chapter 11 protection (Bankr. S.D. Cal. Case
No. 20-00018-11) on Jan. 3, 2020.  The Debtor disclosed $18,531,957
in assets and $29,742,790 in liabilities as of the bankruptcy
filing.

Judge Louise Decarl Adler oversees the case.  

The Debtor tapped Sullivan Hill Rez & Engel as its legal counsel
and Harbuck Keith & Holmes, LLC, as its special Alabama licensing
and regulatory counsel.


[^] BOOK REVIEW: Jacob Fugger the Rich
--------------------------------------
Jacob Fugger the Rich: Merchant and Banker of Augsburg, 1459-1525
Author: Jacob Streider
Publisher: Beard Books
Hardcover: 227 pages
List Price: $34.95

Quick, can you work out how much $75 million in sixteenth century
dollars would be worth today? Well, move over Croesus, Gates,
Rockefeller, and Getty, because that's what Jacob Fugger was
worth.

Jacob Fugger was the chief embodiment of early German capitalistic
enterprise and rose to a great position of power in European
economic life.  Jacob Fugger the Rich is more than just a
fascinating biography of a powerful and successful businessman,
however.  It is an economic history of a golden age in German
commercial history that began in the fifteenth century.  When the
book was first published, in 1931, The Boston Transcript said that
the author "has not tried to make an exhaustive biography of his
subject but rather has aimed to let the story of Jacob Fugger the
Rich illustrate the early sixteenth century development of economic
history in which he was a leader."

Jacob Fugger's family was one of the foremost family in Augsburg
when he was born in 1459.  They got their start by importing raw
cotton, by mule, from Mediterranean ports.  They later moved into
silk and herbs and, for a long while, controlled much of Europe's
pepper market.

Jacob Fugger diversified into copper mining in Hungary and
transported the product to English Channel and North Sea ports in
his own ships.  A stroke of luck led to increased mining
opportunities.  Fugger lent money to the Holy Roman Emperor
Maximilian I to help fund a war with France and Italy. Mining
concessions were put up as collateral.  The war dragged on, the
Emperor defaulted, and Fugger found himself with a European
monopoly on copper.

Fugger used his extensive business network in service of the Pope.
His branches all over Europe collected payments due the Vatican and
issued letters of credit that were taken to Rome by papal agents.
Fugger is credited with creating the first business newsletter.  He
collected news of evolving business climate as well as current
events from his agents all across Europe and distributed them to
all his branches.

Fugger's endeavors were not universally applauded.  The sin of
usury was still hotly debated, and Fugger committed it wholesale.
He was sued over his monopoly on copper.  He was involved in some
messy bribes in bringing Charles V to the throne.  And, his
lucrative role as banker in the sale of indulgences, those chits
that absolve the buyer of sin, raised the ire of Martin Luther
himself.  Luther referred to Fugger specifically in his Open Letter
to the Christian Nobility of the German nation Concerning the
Reform of the Christian Estate just before being excommunicated in
1521.  Fugger went on, however, to fund Charles V's war on
Protestanism and became even richer. Fugger built many churches and
buildings in Augsburg.  He was generous to the poor and designed
the world's first housing project. These buildings and lovely
gardens, called the Fuggerei, are still in use today.

A New York Times reviewer said that Jacob Fugger the Rich, a book
"concerned with the most famous, most capable, and most interesting
of all [the members of the Fugger family] will be as interesting
for the general reader as for the special student of business
history."  This observation is just as true today as in 1931, when
first made.

Jacob Streider was born in 1877 and died in 1936.  He was a
professor of economic history at the University of Munich.


                            *********

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
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Each Tuesday edition of the TCR contains a list of companies with
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The Sunday TCR delivers securitization rating news from the week
then-ending.

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                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2021.  All rights reserved.  ISSN: 1520-9474.

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
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***