/raid1/www/Hosts/bankrupt/TCR_Public/240704.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Thursday, July 4, 2024, Vol. 28, No. 185
Headlines
1001 WL LLC: Seeks to Hire Steidley Law Firm as Special Counsel
1629 REEVES: Hires Zwick CPA PLLC as Accountant
1908 BED: Hires David N. Harris Law Firm as Special Counsel
2 FISH COMPANY: Hires Oppenhuizen Law Firm PLC as Counsel
2015 PARK: Case Summary & 13 Unsecured Creditors
207 E 15TH ST: Property Sale Proceeds to Fund Plan
22ND CENTURY: Seven Proposals Approved at Annual Meeting
406 MANHATTAN: Case Summary & 18 Unsecured Creditors
4471 LLC: Seeks to Hire Hunter Parker as Bankruptcy Counsel
45 TUDOR: Unsecureds Owed $61K to be Paid in Full over 60 Months
680 WALL BLVD: Lucy Sikes Named Subchapter V Trustee
80 COTTONTAIL: Voluntary Chapter 11 Case Summary
810 WILTON: Case Summary & Three Unsecured Creditors
8434 ROCHESTER: Hires Lee & Associates as Real Estate Agent
910 12TH STREET: Hires Raymond W. Verdi Jr. as Counsel
ABRITE ELECTRIC: Hires Zamora & Hernandez PLLC as Accountant
ACT HOSPITALITY: James LaMontagne Named Subchapter V Trustee
ADVANCED MARBLE: Seeks to Hire Advanced Marble as Legal Counsel
AFFINITY INTEGRATED: William Avellone Named Subchapter V Trustee
AFTON OAKS: Case Summary & Four Unsecured Creditors
AGTJ13: Hires Rosenthal & Associates as Special Counsel
AMARILLO PLATINUM: Case Summary & 20 Largest Unsecured Creditors
AMARYLLIS THERAPY: Hires Buechler Law as Bankruptcy Counsel
AMICAS PIZZA: Amends High Country Bank Unsecured Claims Pay
ARCH THERAPEUTICS: Issues $90,000 2024 First Note in Third Closing
ARGENTARIA REAL ESTATE: Case Summary & Six Unsecured Creditors
ASSETS HOLDING: Taps Hightower as Tax Service Provider
BACONE COLLEGE: Seeks to Hire Brown Law Firm as Attorney
BEITLER TEXAS: Case Summary & Two Unsecured Creditors
BIJOU HILL: Amends Unsecureds & Farmers Bank Secured Claims Pay
BMA LLC: Seeks to Hire Tiffany & Bosco as Bankruptcy Counsel
BMI YS: Seeks to Hire Heymann Realty as Real Estate Broker
BOURLAND PROPERTIES: Kristofor Sodergren Named Subchapter V Trustee
CALAMP CORP: Securities Delisted From Nasdaq Effective July 8
CAR CONNECTIONS: Seeks to Hire Madoff & Khoury as Legal Counsel
CEDAR CIRCLE: Hires Joyce W. Lindauer Attorney PLLC as Counsel
CITIGROUP 2024-RP3: Fitch Assigns Bsf Final Rating on Cl. B-2 Notes
CLASS ACT RESTAURANT: Case Summary & 20 Top Unsecured Creditors
CMM MINEOLA: Seeks to Hire Patrick Kelley as Attorney
COMPLETE BEVERAGE: Seeks to Hire David W. Langley as Counsel
CONG. BETH JOSEPH: Hires Shafferman & Feldman LLP as Counsel
CORSAIR GAMING: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
CREDIVALORES-CREDISERVICIOS: Davis Polk Updates List of Noteholders
DBL LLC: Michael Carmel Named Subchapter V Trustee
DBL LLC: Seeks to Hire Sacks Tierney PA as Legal Counsel
DEL FUEGO: Hires DMP Brokers as Real Estate Broker
DEL MONTE: S&P Downgrades ICR to 'CCC-' on Weak Liquidity
DELCATH SYSTEMS: Registers $150MM Worth of Securities
DELCATH SYSTEMS: Registers 2MM Shares Under Equity Incentive Plan
DERMTECH INC: U.S. Trustee Appoints Creditors' Committee
DIFONZO HOLDINGS: Hires Lane Law Firm PLLC as Counsel
DIOCESE OF OGDENSBURG: Jeff Anderson Advises Sexual Abuse Claimants
DIOCESE OF SAN DIEGO: U.S. Trustee Appoints Creditors' Committee
DIOCESE OF SYRACUSE: LaFave Wein Represents Sexual Abuse Claimants
DIVERSIFIED MASONRY: Hires Couse & Associates as Accountant
DLD3 CARTS: Seeks to Hire Osborn Maledon as Bankruptcy Counsel
DP AUTO SALES: Hires Smeberg Law Firm PLLC as Legal Counsel
DYNATA LLC: Court Confirms Chapter 11 Plan, Cuts Debt by Nearly 40%
EARLY YEARS: Hires Sapientia Law Group as Legal Counsel
EL DORADO GAS: Trustee Seeks to Sell Personal Property by Auction
ELLIE LANE: David Wood of Marshack Named Subchapter V Trustee
ENSERVCO CORP: Files Preliminary S-1 for Sale of Up to 35MM Shares
ETG FIRE: Hires Brownstein Hyatt Farber as Legal Counsel
EVERLAST EPOXY: Glen Watson Named Subchapter V Trustee
FISKER INC: Hires Kurtzman Carson as Claims and Noticing Agent
FLANNERY LLC: Beverly Brister Named Subchapter V Trustee
FOUNDATION FITNESS: U.S. Trustee Appoints Creditors' Committee
FRANKLIN INTERNATIONAL: Voluntary Chapter 11 Case Summary
GATEWAY AT WYNWOOD: Voluntary Chapter 11 Case Summary
GOOD NATURED: Chapter 15 Case Summary
GROM SOCIAL: Ionic Ventures, 3 Others Disclose 1.8% Stake
GT GIST: Hires Jessica Homeyer as Bookkeeper
GT GIST: Hires Ledbetter Law Firm LLC as Counsel
HANEY INC: Seeks to Hire Goering & Goering as Bankruptcy Counsel
HELLO NOSTRAND: Amends Plan; Confirmation Hearing Sept. 17
HEYCART INC: Committee Taps Foresight as Financial Advisor
HIGH SOCIETY: Seeks to Hire Kutner Brinen Dickey as Legal Counsel
HOLIDAY IN CAM: Case Summary & 10 Unsecured Creditors
IMERI ENTERPRISES: Hires Amin Realty as Real Estate Broker
IN HOME PERSONAL: Seeks to Hire James Young as Bankruptcy Counsel
IN PHAZE ELECTRIC: Case Summary & 14 Unsecured Creditors
INDUSTRIAL AUTHORITY: Files Amendment to Disclosure Statement
INK! COFFEE: Hires Onsager Fletcher Johnson as Counsel
INK! COFFEE: Hires R2 Advisors LLC as Financial Advisor
IQOR HOLDINGS: S&P Withdraws 'CCC' Issuer Credit Rating
JB'S BBQ: Seeks to Hire Eileen N. Shaffer as Bankruptcy Counsel
JRI LLC: Hires Law Office of John E. Dunlap as Counsel
JRNY COUNSELING: Seeks to Hire Brock Legal LLC as Counsel
JTRE 14 VESEY: Taps Cushman & Wakefield as Real Estate Broker
KIDDE-FENWAL: Completes Sale to Pacific Avenue Capital Partners
LOS TRECE TEXAS: Case Summary & Five Unsecured Creditors
LOUISVILLE INTEGRATED: Charity Bird Named Subchapter V Trustee
LOUISVILLE INTEGRATED: Hires McClain Law Group PLLC as Counsel
LUCKY NUMBER: Case Summary & Four Unsecured Creditors
M&S OILFIELD: Hires Winship & Winship PC as Counsel
MAJOSTAN CORP: Unsecureds Will Get 100% with Interest in Plan
MIDLAND PLATINUM: Case Summary & 20 Largest Unsecured Creditors
MIRACLE RESTAURANT: Dwayne Murray Named Subchapter V Trustee
MONTGOMERY TREE: Voluntary Chapter 11 Case Summary
MOXY RESTAURANT: Unsecureds Will Get 14.1% of Claims over 5 Years
MRRC HOLD: Law Firm of Russell Represents Utilities
NATIONAL TECHMARK: Hires Taft Stettinius & Hollister as Counsel
NATIONWIDE EXPRESS: Case Summary & Six Unsecured Creditors
OMNIQ CORP: Securities Delisted From Nasdaq Effective July 8
OPTIO RX: Aves Management Steps Down as Committee Member
PICOSA CREEK: Case Summary & Six Unsecured Creditors
POWER BLOCK: Hires CFO Solutions as Financial Advisor
POWER BLOCK: Hires Parsons Behle & Latimer as Attorney
PPGE ALAMO: Seeks to Hire Smeberg Law Firm as Attorney
PREMIER CAR WASH: Hires Barton Brimm PA as Counsel
R&N SENECA: Seeks to Hire Barton Brimm PA as Counsel
RAINIER VIEW: Taps Marcus & Millichap as Real Estate Agent
RANGE RESOURCES: S&P Upgrades ICR to 'BB+', Outlook Stable
REDLINE RECREATIONAL: Hires Parsons Behle & Latimer as Attorneys
RITE AID: Gets Court Nod to Sell Assets to Walgreen Co.
RIVER SUB: Hires Ray Law Offices of Ray Battaglia as Counsel
RKO SERVICES: Case Summary & 13 Unsecured Creditors
ROBERT WYATT: Seeks to Hire Gray Reed as Litigation Counsel
RQMJXL LLC: Case Summary & Nine Unsecured Creditors
SALT LIFE: Seeks OK of $85-Mil. Wells Fargo DIP Facility
SAN JORGE: Hires Wanda Marrero as Healthcare Financial Consultant
SAND CASTLE: Case Summary & 20 Largest Unsecured Creditors
SARC IL: Case Summary & 20 Largest Unsecured Creditors
SCISSOR SWEEP: Hires De Leo Law Firm LLC as Legal Counsel
SCISSOR SWEEP: Lucy Sikes Named Subchapter V Trustee
SHANGRI-LA DEVELOPMENT: Hires Enterprise Management as CRO
SIERRA BONITA: Hires Robert A. Ohana as Appraiser
SIGNIA LTD: Seeks to Hire Wadsworth Garber as Bankruptcy Counsel
SMILE KRAFTERS: Voluntary Chapter 11 Case Summary
SSE DEVELOPMENT: Hires Keery McCue PLLC as Counsel
STERETT COMPANIES: Hires Darren Gibbons of TODA Investment as CRO
SUSHI ZUSHI: Seeks to Hire Smeberg Law Firm as Attorney
THERMOGENESIS HOLDINGS: Securities Delisted From Nasdaq
TPT GLOBAL: Files Preliminary S-1 for Sale of 2-Bil. Common Stock
VERTEX ENERGY: Amends Deal to Obtain $15MM Additional Term Loan
VPR LLC: Seeks to Hire Cox Law Group as Bankruptcy Counsel
WESTCLIFF INVESTORS: Case Summary & 13 Unsecured Creditors
WESTERN RISE: Joli Lofstedt Named Subchapter V Trustee
YATES PROPERTIES: Case Summary & One Unsecured Creditor
ZAC PRUETT: Seeks to Hire Henderson Appraisals as Appraiser
ZACHRY HOLDINGS: Hires Ernst & Young as Tax Services Provider
ZACHRY HOLDINGS: Hires Troutman Pepper as Special Counsel
ZACHRY HOLDINGS: UCC Taps Gray Reed as Co-Counsel
ZACHRY HOLDINGS: UCC Taps Proskauer Rose LLP as Counsel
ZARA LLC: Hires Richard B. Rosenblatt PC as Bankruptcy Counsel
[*] Manatt Adds Two New Partners to Financial Services Teams
[*] SCP Sean Corwen Named Emerging Leader by The M&A Advisor
[^] Recent Small-Dollar & Individual Chapter 11 Filings
*********
1001 WL LLC: Seeks to Hire Steidley Law Firm as Special Counsel
---------------------------------------------------------------
1001 WL LLC, seeks approval from the U.S. Bankruptcy Court for the
Western District of Texas to employ The Steidley Law Firm as
special counsel.
The firm will pursue claims against various Sonder entities in
arbitration and in other forums.
Steidley Law will charge Debtor for its legal services on a
contingent fee basis equal to 20 percent of any settlement.
Steidley Law does not represent or hold any interest adverse to
Debtor, its estate, creditors, equity security holders, or
affiliates in the matters upon which Steidley is to be engaged, and
is a "disinterested person" within the meaning of 11 U.S.C. Sec.
101(14), according to court filings.
The firm can be reached through:
Jeff Steidley
Steidley Law Firm
319 W 1st St
Claremore, OK 74017
Phone: (918) 343-2060
About 1001 WL LLC
1001 WL, LLC filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-10119) on
Feb. 6, 2024. In the petition signed by Drew Dennett, authorized
signatory, the Debtor disclosed up to $50 million in both assets
and liabilities.
Judge Shad Robinson oversees the case.
Stephen W. Sather, Esq., at Barron & Newburger PC represents the
Debtor as counsel.
1629 REEVES: Hires Zwick CPA PLLC as Accountant
-----------------------------------------------
1629 Reeves, LLC seeks approval from the U.S. Bankruptcy Court for
the Central District of California to employ Zwick CPA PLLC as
accountant.
The firm will assist the Debtor in the preparation of tax returns,
monthly operating reports ("MOR"), budgeting, cash flow analysis
and financial statements.
The firm will be paid at the rate of $385 per hour.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Marc Zwick, a partner at Zwick CPA PLLC, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Marc Zwick
Zwick CPA PLLC
21669 Constitution
Southfield, MI 48076
Tel: (248) 229-2121
Email: uofmgrad87@gmail.com
About 1629 Reeves, LLC
1629 Reeves, LLC is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)). The Debtor is the fee simple owner
of a commercial real estate located at 1629 Reeves Street, Los
Angeles, Calif., valued at $4.5 million.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-14283) on May 30,
2024, with $4,500,000 in assets and $4,720,907 in liabilities as of
May 28, 2024. Aaron R. Sokol, managing member, signed the
petition.
Judge Neil W. Bason presides over the case.
John P. Kreis, Esq., at John P. Kreis, PC represents the Debtor as
legal counsel.
1908 BED: Hires David N. Harris Law Firm as Special Counsel
-----------------------------------------------------------
1908 Bed And Breakfast, Inc. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Mississippi to employ
David N. Harris, Jr. Law Firm as special counsel.
The Debtor needs the firm's legal assistance in connection with a
claims tort and contract claims against multiple parties regarding
the purchase of real estate located at 1012 Beach Boulevard,
Biloxi, Mississippi.
The firm will be paid at these rates:
David N. Harris, Jr. $350 per hour
Paralegal staff $125 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
David N. Harris, Jr., Esq., a partner at David N. Harris, Jr. Law
Firm, disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
David N. Harris, Jr., Esq.
David N. Harris, Jr. Law Firm
134 Rue Magnolia, Suite A,
Biloxi, MS 39530,
Tel: (228) 236-7616
About 1908 Bed And Breakfast, Inc.
1908 Bed and Breakfast, Inc., doing business as 1908 Coastal
Historic Bed and Breakfast, owns and operates a rental property in
Biloxi, Miss. The current owners who recently purchased the
property has just completed another major renovation to convert the
property to six fully contained units. The property is located
right on the Gulf Coast's shoreline on Beach Blvd (U.S. 90).
1908 Bed and Breakfast filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Miss. Case No.
24-50029) on Jan. 10, 2024, with $1 million to $10 million in
assets and $500,000 to $1 million in liabilities. Rebecca Center,
president, signed the petition.
Judge Katharine M. Samson oversees the case.
Michael T. Ramsey, Esq., at Sheehan and Ramsey, PLLC represents the
Debtor as legal counsel.
2 FISH COMPANY: Hires Oppenhuizen Law Firm PLC as Counsel
---------------------------------------------------------
2 Fish Company, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Michigan to employ Oppenhuizen Law
Firm, PLC as counsel.
The firm's services include:
a. providing information to Debtor with regard to its duties
and responsibilities as required by the United State Bankruptcy
Code of debtor-in-possession;
b. assisting in the preparation of schedules and statement of
affairs;
c. assisting in the preparation of financial statements,
balance sheets, and business plans;
d. pursuing any and all claims of Debtor against third
parties, including, but not limited to, preferences, fraudulent
conveyances and accounts receivable;
e. representing Debtor with regard to any actions brought
against it by third parties in the bankruptcy proceeding;
f. assisting in the negotiations with secured, unsecured, and
priority creditors and preparing a Plan of Reorganization with a
likelihood of confirmation; and
g. obtaining confirmation of a Plan of Reorganization.
The firm will be paid at these rates:
James R. Oppenhuizen $450 per hour
Associates $350 per hour
Paralegal or legal assistant $175 per hour
The firm will be paid a retainer in the amount of $20,000,
including the filing fee.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
James R. Oppenhuizen, Esq., a partner at Oppenhuizen Law Firm, PLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
James R. Oppenhuizen, Esq.
Oppenhuizen Law Firm, PLC
125 Ottawa Ave. NW, Suite 237
Grand Rapids, MI 49503
Telephone: (616) 730-1861
(616) 648-9221
Email: joppenhuizen@oppenhuizenlaw.com
About 2 Fish Company, LLC
2 Fish Company, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Mich. Case No. 24-01637) on June 20, 2024, disclosing under $1
million in both assets and liabilities. The Debtor hires
Oppenhuizen Law Firm, PLC as counsel.
2015 PARK: Case Summary & 13 Unsecured Creditors
------------------------------------------------
Debtor: 2015 Park Street, LP
The Park Apartments
4040 Schanen Blvd.
Corpus Christi, TX 78413
Business Description: 2015 Park Street owns and operates a park in
Corpus Christi, Texas offering a picturesque
setting close to Corpus Christi Bay and the
scenic Oso Beach Municipal Golf Course.
The Park also offers a range of rental
options to suit diverse lifestyles.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 24-20183
Debtor's Counsel: Nathaniel Peter Holzer, Esq.
1734 Santa Fe St
Corpus Christi, TX 78404-1857
Tel: (361) 563-6175
Email: Pete@npholzerlaw.com
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Clyde Nazareth, president of General
Partner.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/AMHYG3Q/2015_Park_Street_LP__txsbke-24-20183__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 13 Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Better World Properties, LLC $4,000
350 Glenborough Dr. Suite 200
Houston, TX 77067
2. City of Corpus Christi $20,706
P.O. Box 9257
Corpus Christi, TX 78469-9257
3. Echelon Security Solutions LLC $2,390
4455 S. Padre Island Dr., Ste 3
Corpus Christi, TX 78411
4. Franklin Street $215,634
1311 N. Westshore Blvd. Suite 200
Tampa, FL 33607
5. Hands On Renovation Service $3,955
PO Box Box 680951
Houston, TX 77268-0951
6. JNB Platinum Realty $24,918
3091 University Dr. E Suite 130
Bryan, TX 77802
7. Lowe's Pro Supply $17,317
6910 Brasada Ave
Houston, TX 77085
8. Manning Law Care and $1,674
Landscaping LLC
4325 Agnes Street
Corpus Christi, TX 78405
9. MK Home Remodeling $49,282
4008 Black Locust Dr
Houston, TX 77068
10. Rasa Floors $17,964
PO Box Box 619130
Dallas, TX 75261-9130
11. Ryan Law $9,000
13155 Noel Rd Ste 1850
Dallas, TX 75240
12. Scope Pest Control $1,492
6914 Willow Oak Drive
Corpus Christi, TX 78413
13. Spectrum Business $185
4145 S Falkenburg Rd.
Riverview, FL 33578-8652
207 E 15TH ST: Property Sale Proceeds to Fund Plan
--------------------------------------------------
207 E 15TH ST LLC filed with the U.S. Bankruptcy Court for the
District of New Jersey a First Disclosure Statement describing
Chapter 11 Plan dated June 18, 2024.
The Debtor is a single asset real estate holding limited liability
company. The Debtor is in the business of holding commercial real
estate.
The Debtor has been managed before and during the bankruptcy by
Lenaure Foxworth, Managing Member.
The Debtor was facing a foreclosure/Sheriff's sale of real estate
located at 207 E 15th Street Paterson, New Jersey due to a
defaulted commercial mortgage.
This is a reorganization plan. In other words, The proponent seeks
to use the sale of assets owned by the debtor to pay creditor
claims so the debtor can continue operating, if it desires, after
confirmation.
Class 4 consists of General Unsecured Claims. General Unsecured
Creditors shall received pro rata payment on the Effective date of
funds available after Administrative, Secured, and Priority Claims
are paid in full. Payment is subject to any rights Debtor has to
object to, expunge or modify the claim. The allowed unsecured
claims total $144,862.64. This Class is impaired.
The Plan will be funded by the sale of the Debtor's real estate
located at 207 E 15th Street, Paterson, New Jersey.
The Debtor has multiple offers to purchase Debtor's real estate
holding at 207 E 15th Street, Paterson, New Jersey for a minimum of
$310,000.00 which is in excess of all Administrative and Secured
Claims and provides a significant payment to the General Unsecured
Creditors.
A full-text copy of the First Disclosure Statement dated June 18,
2024 is available at https://urlcurt.com/u?l=HWV9Mr from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Avram D. White, Esq.
WHITE and CO, LLC
523 Park Avenue, Suite 3
Orange, NJ 07050
Phone: (973) 669 0857
Fax: (888) 481 1709
E-mail: avram.randr@gmail.com
About 207 E 15TH ST LLC
207 E 15TH ST LLC is in the business of holding commercial real
estate.
The Debtor sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 23-20978) on Nov. 27, 2023,
listing $100,001-$500,000 in both assets and liabilities. Lenaure
Foxworth signed the petition as managing member.
Avram D. White, Esq. at White and Co. Attorneys and Counsellors
represents the Debtors as counsel.
22ND CENTURY: Seven Proposals Approved at Annual Meeting
--------------------------------------------------------
The 2024 Annual Meeting of Stockholders of 22nd Century Group, Inc.
was held on Friday, June 28, 2024, during which the Stockholders
voted upon:
Proposal One: To approve an amendment to the Company's Amended and
Restated Articles of Incorporation to declassify the Board of
Directors. The charter amendment was not approved.
Proposal Two: Because the Charter Amendment was not approved by the
stockholders, the proposal to elect four directors to the Board of
Directors was not submitted to a vote.
Proposal Three: To elect one Class I director, Andy Arno, to serve
until the 2027 annual meeting of the stockholders and until his
respective successor has been elected and qualified. In accordance
with the voting results, the nominee was elected to serve as
director.
Proposal Four: To approve an advisory resolution approving
executive compensation for fiscal year 2023. In accordance with the
voting results, the Company's executive compensation for fiscal
year 2023 has been approved.
Proposal Five: To approve an amendment and restatement of the 22nd
Century Group, Inc. 2021 Omnibus Incentive Plan which shall
increase the number of shares authorized for issuance by five
million (5,000,000). In accordance with the voting results, the
amendment to the 2021 Omnibus Incentive Plan was approved.
Proposal Six: To approve the Warrants dated April 9, 2024 and the
shares issuable upon exercise of the warrants pursuant to Rule
5635(d) of the Nasdaq Stock Market. In accordance with the voting
results, the warrants and shares issuable upon exercise of the
warrants were approved.
Proposal Seven: To approve the Voluntary Conversion Option in the
Debentures dated March 3, 2023, as amended December 22, 2023,
pursuant to Rules 5635(b) and 5635(d) of the Nasdaq Stock Market.
In accordance with the voting results, the Voluntary Conversion
Option was approved.
Proposal Eight: To ratify the appointment of Freed Maxick CPAs,
P.C. as the Company's independent registered public accountants for
2024. In accordance with the voting results, Freed Maxick CPAs,
P.C. will serve as the independent registered certified public
accountants for the year 2024.
Proposal Nine: To approve the adjournment of the meeting, if
necessary or advisable, to solicit additional proxies in favor of
the Charter Amendment (Proposal 1), the amendment and restatement
of the Company's 2021 Omnibus Incentive Plan (Proposal 5), the
approval of the Warrants (Proposal 6) or the approval of the
Voluntary Conversion Option (Proposal 7). In accordance with the
voting results, the adjournment was approved.
About 22nd Century Group
Mocksville, N.C.-based 22nd Century Group, Inc. is a tobacco
products company with sales and distribution of its own proprietary
new reduced nicotine tobacco products authorized as Modified Risk
Tobacco Products by the FDA. Additionally, it provides contract
manufacturing services for conventional combustible tobacco
products for third-party brands.
For the year ended December 31, 2023, the Company reported a net
loss of $140.8 million compared to a net loss of $59.8 million in
2022. As of December 31, 2023, the Company had $27.5 million in
total assets, $35.9 million in total liabilities, and $8.4 million
in total shareholders' deficit.
Buffalo, N.Y.-based Freed Maxick, CPAs, PC., the Company's auditor
since 2011, issued a "going concern" qualification in its report
dated March 28, 2024, citing that the Company has incurred
significant losses and negative cash flows from operations since
inception and expects to incur additional losses until such time
that it can generate significant revenue and profit in its tobacco
business. Further, the Company has negative working capital and a
shareholders' deficit as of December 31, 2023. This raises
substantial doubt about the Company's ability to continue as a
going concern.
406 MANHATTAN: Case Summary & 18 Unsecured Creditors
----------------------------------------------------
Debtor: 406 Manhattan LLC
23 Kirby Lane
Jericho, NY 11753
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Eastern District of New York
Case No.: 24-72584
Judge: Hon. Robert E Grossman
Debtor's Counsel: Roy J. Lester, Esq.
LESTER KORINMAN KAMRAN & MASINI, P.C.
600 Old Country Road
Suite 330
Garden City, NY 11530
Tel: (516) 357-9191
Fax: (516) 357-9281
Email: rlester@lesterfirm.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Khalil Sikander, managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 18 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/Q5ITIWI/406_Manhattan_LLC__nyebke-24-72584__0001.0.pdf?mcid=tGE4TAMA
4471 LLC: Seeks to Hire Hunter Parker as Bankruptcy Counsel
-----------------------------------------------------------
4471 LLC, SERIES B, seeks approval from the U.S. Bankruptcy Court
for the District of Nevada to hire Hunter Parker LLC as its
counsel.
The firm's services include:
(a) preparing records and reports as required by the
Bankruptcy Code, Federal Rules of Bankruptcy Procedure and Local
Bankruptcy Rules;
(b) preparing applications and proposed orders to be submitted
to the Court;
(c) identifying and prosecuting claims of action assertable by
the Debtor on behalf of the estate;
(d) examining proofs of claim anticipated to be filed and the
possible prosecution of objections to certain of such claims;
(e) advising the Debtors and preparing documents in connection
with the contemplated ongoing operation of the Debtors business, if
any;
(f) assisting and advising the Debtors in performing other
official functions as set forth in Section 521, et seq., of the
Bankruptcy Code; and
(g) advising and preparing a Plan of Reorganization under
Subchapter V, and related documents, and confirmation of said Plan,
as provided in Section 1101, et. seq., of the Bankruptcy Code.
Andrew Van Ness, Esq., the attorney who will be handling the case,
charges an hourly fee of $400. His firm received an initial
pre-bankruptcy retainer of $15,000 for preparation of the case. The
filing fee of $1,738 was paid by the Debtor's managing member.
Mr. Van Ness disclosed in a court filing that he and his firm are
"disinterested" under the Bankruptcy Code.
Hunter Parker can be reached through:
Andrew J. Van Ness, Esq.
Hunter Parker, LLC
3815 S. Jones Blvd., Suite 1A
Las Vegas, NV 89103
Phone: (702) 686-9297
E-mail: hunterparkerllc@gmail.com
About 4471 LLC, SERIES B
4471 LLC, SERIES B sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. D. Nev. Case No. 24-13138) on June 21,
2024, listing $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.
Judge Mike K Nakagawa presides over the case.
Andrew J. Van Ness, Esq., at Hunter Parker LLC represents the
Debtor as counsel.
45 TUDOR: Unsecureds Owed $61K to be Paid in Full over 60 Months
----------------------------------------------------------------
45 Tudor Restaurant LLC submitted an Amended Plan of Reorganization
for Small Business.
The Plan Proponent's financial projections show that the Debtor
will have projected disposable income of at least four times
$1,019.00 per month, for 60 months, the amount needed to pay all
creditors 100% of all claims. The projection shows a cash surplus
each month of at least four times the needed amount to fund the
plan.
The final Plan payment is expected to be paid on July 31, 2029.
There have been historically sufficient profit to fund this Plan.
Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 100 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.
Class 3 consists of Non-priority unsecured creditors. Unsecured
Creditors shall be paid in full over the course of the 60 month
term of this Plan. Based on claims filed, unsecured claims are:
Capital One ($922.48); New York State Dept of Labor ($36,386.38);
and Con Ed ($23,831.34). Unsecured Claims in this Class to be paid
in Plan total $61,140.20. This Class is impaired.
Class 4 consists of Equity security holders of the Debtor. Aida
Lekic shall retain her membership interest.
The Plan will be funded from general operating income. Payments are
modest now that the Lease issues are cured.
A full-text copy of the Amended Plan of Reorganization dated June
17, 2024 is available at from PacerMonitor.com at no charge.
About 45 Tudor
45 Tudor Restaurant LLC operates a restaurant at 45 Tudor Place in
Manhattan.
45 Tudor Restaurant filed a Chapter 11 petition (Bankr. S.D.N.Y.
Case No. 23-10463) on March 27, 2023. The Debtor is represented by
Michael D. Siegel, Esq. of SIEGEL & SIEGEL, P.C.
680 WALL BLVD: Lucy Sikes Named Subchapter V Trustee
----------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Lucy Sikes as
Subchapter V trustee for 680 Wall Blvd., LLC.
Ms. Sikes will be paid an hourly fee of $375 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Sikes declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Lucy G. Sikes
P.O. Box 52545
Lafayette, LA 70505-2545
Telephone: 337-366-0214
Facsimile: 337-628-1319
Email: lucygsikes1@gmail.com
About 680 Wall Blvd.
680 Wall Blvd., LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code ((Bankr. E.D. La. Case No. 24-11137) on June 17,
2024, with $100,001 to $500,000 in both assets and liabilities.
Judge Meredith S. Grabill presides over the case.
Tiffany A. Peters, Esq., at New Orleans Legal Assistance represents
the Debtor as bankruptcy counsel.
80 COTTONTAIL: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 80 Cottontail RE Holdings LLC
80 Cottontail Lane
Somerset, NJ 08873
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
District of New Jersey
Case No.: 24-16654
Debtor's Counsel: Eric H. Horn, Esq.
A.Y. STRAUSS LLC
290 West Mount Pleasant Avenue
Suite 3260
Livingston, NJ 07039
Tel: 973-287-5006
Email: ehorn@aystrauss.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Tzvi Rivkin, sole member.
The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/CRW6W7A/80_Cottontail_RE_Holdings_LLC__njbke-24-16654__0003.0.pdf?mcid=tGE4TAMA
810 WILTON: Case Summary & Three Unsecured Creditors
----------------------------------------------------
Debtor: 810 Wilton Ventures LLC
800 W 6th St 16th Floor
Los Angeles, CA 90017
Business Description: 810 Wilton Ventures owns a real property
located at 709 North Kenmore Avenue, Los
Angeles, California having a comparable sale
value of $12 million.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Central District of California
Case No.: 24-15230
Debtor's Counsel: Stella Havkin, Esq.
STELLA HAVKIN
5950 Canoga Avenue, Suite 400
Woodland Hills, CA 91367
Email: shavkinesq@gmail.com
Total Assets: $12,000,000
Total Liabilities: $7,892,627
The petition was signed by Jonathan Pae, managing member.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/GAECBOI/810_Wilton_Ventures_LLC__cacbke-24-15230__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's Three Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Los Angeles County Property Taxes $64,911
Tax Collector
225 North Hill Street
Los Angeles, CA 90012
2. Los Angeles County $56,274
Tax Collector
225 North Hill Street
Los Angeles, CA 90012
3. The Hartford Insurance $1,468
PO Box 660916
Dallas, TX 75266
8434 ROCHESTER: Hires Lee & Associates as Real Estate Agent
-----------------------------------------------------------
8434 Rochester Ave, RE, LLC and its affiliates seek approval from
the U.S. Bankruptcy Court for the Central District of California to
employ Lee & Associates - Ontario as real estate agent.
The firm will market and sell the Debtors' commercial real property
located at 8434-8444 Rochester Avenue, Rancho Cucamonga, CA 91730,
and 14554 Valencia Ave., Fontana, CA 92335.
The firm will be paid a commission of 5 percent of the sales
price.
Ryan Earnhart, a member at Lee & Associates – Ontario, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Ryan Earnhart
Lee & Associates – Ontario
3535 Inland Empire Boulevard
Ontario, CC 91764
Tel: (909) 989-7771
About 8434 Rochester Ave, RE, LLC
8434 Rochester Ave is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)).
8434 Rochester Ave RE LLC in Newport Beach, CA, filed its voluntary
petition for Chapter 11 protection (Bankr. C.D. Cal. Case No.
24-10729) on March 26, 2024, listing as much as $10 million to $50
million in both assets and liabilities. Gustavo W. Theisen as
manager, signed the petition.
Judge Scott C. Clarkson oversees the case.
SHULMAN BASTIAN FRIEDMAN & BUI LLP serve as the Debtor's legal
counsel.
910 12TH STREET: Hires Raymond W. Verdi Jr. as Counsel
------------------------------------------------------
910 12th Street, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to employ The Law Office of
Raymond W. Verdi, Jr. as counsel.
The firm will render these services:
a. assist in preparing and filing schedules, statements,
monthly financial statements, and other necessary and appropriate
documents;
b. prepare legal documents;
c. appear at all appropriate meetings;
d. explain the Debtor's responsibilities under chapter 11;
e. represent in negotiations with creditors and committees;
f. assist in formulating a plan of reorganization and
disclosure statement; and
g. perform other legal services.
The firm will be paid at these rates:
Members $450 per hour
Legal Assistants $125 per hour
The firm received a retainer in the amount of $7,500.
Raymond Verdi, Jr., Esq., disclosed in a court filing that his firm
does not hold or represent any entity that holds an adverse
interest in the Debtor's case.
The firm can be reached through:
Raymond W. Verdi Jr., Esq.
Law Offices of Raymond W. Verdi Jr., PC
178 East Main Street
Patchogue, NY 11772
Telephone: (516) 380-9064
About 910 12th Street, LLC
910 12th Street LLC, filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 24-72171) on June 5, 2024, disclosing under $1
million in both assets and liabilities. The Debtor is represented
by LAW OFFICE OF RAYMOND W. VERDI, JR.
ABRITE ELECTRIC: Hires Zamora & Hernandez PLLC as Accountant
------------------------------------------------------------
Abrite Electric Corp. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to employ Zamora & Hernandez,
PLLC as accountant.
The firm will provide these services:
a. update the accounting for the transactions that occurred
during the month;
b. record the invoices during the month for the Debtor and in
the accounting as well;
c. record the bills that the Debtor receives during the month
for the Debtor in the accounting as well so that we can have an
appropriate listing for the expenses paid out as well as what items
are still outstanding at month end for the payables report be
included in the MOR; and
d. prepare MOR for each month with all the information we
posted to ensure the reports are as are correct as possible.
The firm will be paid at a monthly service fee of $500.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Antonio Zamora, a president at Zamora & Hernandez, PLLC, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Antonio Zamora
Zamora & Hernandez, PLLC
95 Merrick Way 3rd Floor
Coral Gables, FL 33134
Tel: (305) 665-6560
About Abrite Electric Corp.
Abrite Electric Corp. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
24-11723) on February 23, 2024, with $100,001 to $500,000 in assets
and $500,001 to $1 million in liabilities.
Ariel Sagre, Esq. at Sagre Law Firm, P.A. represents the Debtor as
bankruptcy counsel.
ACT HOSPITALITY: James LaMontagne Named Subchapter V Trustee
------------------------------------------------------------
The U.S. Trustee for Region 1 appointed James LaMontagne of Sheehan
Phinney Bass & Green as Subchapter V trustee for ACT Hospitality,
Inc. and affiliates.
Mr. LaMontagne will be paid an hourly fee of $425 for his services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. LaMontagne declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
James S. LaMontagne, Esq.
Sheehan Phinney Bass & Green
75 Portsmouth Boulevard, Suite 110
Portsmouth, NH 03801
Phone: (603) 627-8102
Email: jlamontagne@sheehan.com
About ACT Hospitality
ACT Hospitality, Inc., doing business as Box Seats, is a
sports-themed family restaurant and neighborhood bar, serving all
food and drinks in a relaxed, casual setting.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 24-40604) on June 11,
2024, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. A. Charles Tgibedes, president, signed the
petition.
Kate E. Nicholson, Esq., at Nicholson Devine, LLC represents the
Debtor as legal counsel.
ADVANCED MARBLE: Seeks to Hire Advanced Marble as Legal Counsel
---------------------------------------------------------------
Advanced Marble & Granite, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Idaho to hire Foley Freeman,
PLLC as its counsel.
The firm will render these services:
a. give the Debtor legal advice with respect to his powers and
duties in the affairs of the business and management; and
b. file a Plan and other documents or help in the preparation
of the same and to negotiate and secure approval of a Chapter 11
Plan and to file such other Motions, attended hearings relating to
the Chapter 11 proceedings.
The firm will be paid at these rates of $100 to $360 per hour.
The firm received from the Debtor a retainer in the amount of
$30,000
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Patrick J. Geile, Esq., a partner at Foley Freeman, LLC, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Patrick J. Geile, Esq.
Foley Freeman, LLC
953 S. Industry Way
Meridian, ID 83642
Tel: (208) 888-9111
Fax: (208) 888-5130
Email: pgeile@foleyfreeman.com
Advanced Marble & Granite, Inc.
Advanced Marble & Granite is a fabricator and installer of natural
stone products. The Debtor specializes in kitchen countertops,
bathrooms, bars, vanities, outdoor entertainment, and fireplace
mantels & surrounds.
Advanced Marble & Granite, Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho
Case No. 24-00390) on June 21, 2024, listing $5,711,659 in assets
and $4,780,963 in liabilities. The petition was signed by Donald D.
Massey as president.
Judge Noah G Hillen presides over the case.
Patrick J. Geile, Esq. at FOLEY FREEMAN, PLLC represents the Debtor
as counsel.
AFFINITY INTEGRATED: William Avellone Named Subchapter V Trustee
----------------------------------------------------------------
The U.S. Trustee for Region 11 appointed William Avellone of
Chartered Management as Subchapter V trustee for Affinity
Integrated Healthcare S.C.
Mr. Avellone will be paid an hourly fee of $375 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Avellone declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
William B. Avellone
Chartered Management
10 South Riverside Plaza, Suite 875
Chicago, IL 60606
Tel: (312) 273-4004
Email: bill.avellone@charteredmgt.com
About Affinity Integrated Healthcare
Affinity Integrated Healthcare S.C. sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-09010)
on June 19, 2024, with up to $50,000 in assets and up to $500,000
in liabilities.
Judge Donald R. Cassling presides over the case.
Blair R. Zanzig, Esq., at Leibowitz Hiltz & Zanzig represents the
Debtor as legal counsel.
AFTON OAKS: Case Summary & Four Unsecured Creditors
---------------------------------------------------
Debtor: Afton Oaks Residences, LLC
4725 College Park, Suite 102
San Antonio, TX 78249
Business Description: Afton Oaks is a Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B)).
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
Western District of Texas
Case No.: 24-51264
Judge: Hon. Michael M Parker
Debtor's Counsel: Ronald Smeberg, Esq.
THE SMEBERG LAW FIRM
4 Imperial Oaks
San Antonio TX 78248-1609
Tel: (210) 695-6684
Email: ron@smeberg.com
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Jafar Sharif as manager.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/B22TAKY/Afton_Oaks_Residences_LLC__txwbke-24-51264__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's Four Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Alamo Multifamily Group, LLC Development $3,693,013
2030 N 1604 W, Suite 201 Services
San Antonio, TX 78248
2. Killen, Griffin & Professional
$5,947
Farrimond, PLLC Services
10101 Reunion Place, Ste 250
San Antonio, TX 78216
3. Steinberg Dickey Collaborative Professional $10,000
8100 Washington Ave. Ste 250 Services
Houston, TX 77007
4. Vickrey & Assoc. LLC Professional $65,919
12940 Country Prkwy Services
San Antonio, TX 78216
AGTJ13: Hires Rosenthal & Associates as Special Counsel
-------------------------------------------------------
AGTJ13, LLC and its affiliates seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Rosenthal & Associates as special counsel.
The firm's services include:
a. advising the Debtors in connection with their rights and
obligations under its leases;
b. preparing and serving 3-day notices and other
notices/demand letters to pay rent or quit on tenants that have
failed to pay rent and other obligations under their respective
leases;
c. with respect to tenants that fail to cure defaults set
forth in the 3-day notices to pay rent or quit, commence unlawful
detainer proceedings and appear at court hearings and proceedings.
The firm will charge a flat fee of $2,000 per 3-day notice to pay
rent or quit/other notices and demand letters, provided, however,
for tenants that occupy more than one space, a single fee of $2,000
will be charged per tenant. If tenants fail to cure defaults set
forth in such notices/demand letters and the Debtors determines to
commence unlawful detainer proceedings against a tenant, the firm
will charge a flat fee of $5,000 for each unlawful detainer
proceeding, and to the extent a tenant answers a complaint and the
firm is required to appear in court, each appearance will be an
additional $500.
Lisa F. Rosenthal, Esq., a principal at Rosenthal & Associates,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Lisa F. Rosenthal, Esq.
Rosenthal & Associates
6016 Fallbrook Avenue, Suite 101,
Woodland Hills, CA 91367
Tel: (818) 348-2896
Fax: (818) 348-1247
Email: lisa@valleylawoffice.com
About AGTJ13, LLC
AGTJ13, LLC, is a Single Asset Real Estate debtor (as defined in 11
U.S.C. Section 101(51B)).
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-11409) on Feb. 26,
2024. In the petition signed by Lafayette Jackson Sharp, IV,
manager, the Debtor disclosed up to $100 million in both assets and
liabilities.
Judge Sandra R Klein oversees the case.
Ron Bender, Esq., at LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.,
represents the Debtor as legal counsel.
AMARILLO PLATINUM: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Amarillo Platinum, LLC
d/b/a SpringHill Suites Amarillo
2301 Cinema Drive
Amarillo, TX 79124
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Middle District of Tennessee
Case No.: 24-02447
Judge: Hon. Charles M Walker
Debtor's Counsel: Henry E. ("Ned") Hildebrand, IV, Esq.
DUNHAM HILDEBRAND PAYNE WALDRON, PLLC
9020 Overlook Blvd., Suite 316
Brentwood, TN 37027
Tel: 615-933-5851
Fax: 615-777-3765
Email: ned@dhnashville.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $10 million to $50 million
The petition was signed by Mitul Patel as manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/PQ3ZHGA/Amarillo_Platinum_LLC__tnmbke-24-02447__0001.0.pdf?mcid=tGE4TAMA
AMARYLLIS THERAPY: Hires Buechler Law as Bankruptcy Counsel
-----------------------------------------------------------
Amaryllis Therapy Network, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Buechler Law
Office, LLC, as its bankruptcy counsel.
The firm will render these services:
a. prepare all necessary reports, orders and other legal
papers required in this Chapter 11 proceeding;
b. perform all legal services for Debtor as
Debtor-in-Possession which may become necessary; and
c. represent the Debtor in any litigation which the Debtor
determines is in the best interest of the estate.
The professionals' hourly rates are as follows:
K. Jamie Buechler $495 per hour
David M. Rich $495 per hour
Michael Lamb $350 per hour
Jordan (Thomas) O'Connell $150 per hour
Mark P. Melmed $150 per hour
Paralegals $125 per hour
The firm received a retainer in the amount of $9,727.84.
As disclosed in the court filings, Buechler Law Office does not
hold or represent any interest adverse to the Debtor and the
bankruptcy estate, except as stated herein and as described in the
affidavit, and is a "disinterested person" as that term is defined
in 11 U.S.C. Sec. 101(14).
The firm can be reached through:
K. Jamie Buechler, Esq.
Michael C. Lamb, Esq.
BUECHLER LAW OFFICE, LLC
999 18th Street, Suite 1230-S
Denver, CO 80202
Tel: (720) 381-0045
Fax: (720) 381-0382
Email: jamie@kjblawoffice.com
mcl@kjblawoffice.com
About Amaryllis Therapy Network
Amaryllis Therapy Network, Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo.
Case No. 24-13442) on June 20, 2024, listing $100,001 to $500,000
in assets and $500,001 to $1 million in liabilities.
Kelsey Jamie Buechler, Esq. at Buechler Law Office, LLC, represents
the Debtor as counsel.
AMICAS PIZZA: Amends High Country Bank Unsecured Claims Pay
-----------------------------------------------------------
Amicas Pizza, Microbrew & More, Inc., submitted an Amended Plan of
Reorganization dated June 17, 2024.
The Debtor was founded in 2002. Since that time, it has operated a
full-service community taphouse and scratch kitchen restaurant in
the heart of downtown Salida, Colorado.
The Debtor has been a fixture of the Salida community since that
time and had been profitable up until COVID. Debtor also struggles
to attract and maintain quality employees as a result of operating
a business in a resort town. To remedy this issue, Debtor provides
employees with subsidized housing through its affiliated company
Mas Amor, LLC.
As reflected in Debtor's projections, it pays a monthly rent amount
community. Post-COVID, Debtor attempted an unsuccessful expansion
with Stokes BBQ causing it to incur substantial debt. This was
further compounded by the fact that Debtor's former manager entered
into numerous unauthorized and high interest rate loan agreements,
which its cash flow could not sustain.
For the five-year total, Debtor projects $584,492.49 net cash flow
which shall be paid to creditors under the "disposable income"
requirement of the Code. In the event Debtor recovers additional
funds through litigation relating to the actions of its former
manager, such funds would be available to increase payments to
Class 4 and 5 creditors through the Plan.
The Class 2 Creditor consists of the allowed unsecured claims of
the High Country Bank as reflected in Proof of Claim No. 8 in the
amount of $511,065.49 and Proof of Claim No. 9 in the amount of
$829,457.98 for unsecured loans. Debtor shall pay the monthly lease
payments for the 720 Property directly to the holder of the Class 2
claims until the 720 Property is sold. These debts are further
secured by the 720 Property for which Debtor holds a 30% ownership
interest. Debtor anticipates that the 720 Property shall be sold
during the term of the Plan and Class 2 claims shall be paid
through the sale.
Any remaining amounts that are not paid through the sale of the 720
Property and/or lease payments, shall be entitled to receive pro
rata distributions along with Class 4 and 5 Allowed Claims. Debtor
shall pay the monthly lease payments for the 720 Property directly
to the holder of the Class 2 Claims until sold. Debtor's
projections anticipate that the building will be sold within one
year. Therefore, the projections provide for one year of rental
payments towards 720 Property. The lease shall terminate upon the
sale of the building. If the building is sold as projected, the net
proceeds on account of Debtor's 30% interest, will be paid into the
Plan Payment Fund. The Class 2 claim is impaired under the Plan.
Class 4 consists of Allowed Unsecured Claims. The Class 4 creditors
shall each be paid their pro rata share of the Plan Payment Fund
along with the Class 2 and 5 Claims.
Class 5 consists of Disputed, Unliquidated, and Contingent
Unsecured Claims of For a Financial Asset Securitization 2021, LLC,
and Forward Financing. Class 5 shall include Fora Financial Asset
Securitization 2021, LLC ("FAS") who has filed Proof of Claim No. 4
in the amount of $81,758.00 and who improperly alleges that it is
secured. Class 5 shall include Forward Financing ("FF") who filed
Proof of Claim No. 12 in the amount of $56,500.00.
The Debtor shall file claims objections within 6 months of the
Effective Date. To the extent any Class 5 claims are Allowed
Unsecured Claims, Class 5 creditors shall each be paid their pro
rata share of the Plan Payment Fund along with the Class 4 through
5 Claims. Debtor will maintain a reserve for any amounts, if
necessary.
The Debtor's Plan is feasible because the Plan Payment Fund shall
be funded following Confirmation in accordance with the
projections, but in no event later than 30 days following the
Effective Date for Class 1 and Class 3 Secured Claims and monthly
lease payments for Class 2 and annually following the Effective
Date for all other classes. Due to the seasonality of Debtor's
business, its net revenue varies substantially throughout the year.
Therefore, Debtor shall make annual payments beginning July 1,
2025, through the term of the Plan.
The Debtor's board members prepared cash flow projections which
reflect a realistic prediction of Debtor's operations during the
5-year period following Effective Date of the Plan. These
projections show an accumulated net cash flow available to pay
creditors in the total amount of $584,492.49 over the 5-year
period. This amount shall be paid pro rata to Unsecured Creditors
with Allowed Claims in Classes 4 and 5. Debtor shall be obligated
to pay its projected disposable income to Allowed Claims in Classes
4 and 5. The projections also demonstrate the ability to pay the
Secured Creditors in Classes 1 and 3 and the monthly lease payments
to Class 2.
The funds deposited into the account representing the Plan Payment
Fund will come from Debtor's net revenue generated from its ongoing
operations. Debtor shall be obligated to pay its projected
disposable income to Allowed Claims in Classes 4 and 5.
A full-text copy of the Amended Plan dated June 17, 2024 is
available at https://urlcurt.com/u?l=ue9jJZ from PacerMonitor.com
at no charge.
Attorney for the Debtor:
Jeffrey A. Weinman, Esq.
Bailey C. Pompea, Esq.
ALLEN VELLONE WOLF HELFRICH & FACTOR P.C.
1600 Stout Street, Suite 1900
Denver, CO 80202
Telephone: (303) 534-4499
Email: JWeinman@allen-vellone.com
BPompea@allen-vellone.com
About Amicas Pizza Microbrews & More
Amicas Pizza Microbrews & More, Inc. owns and operates a pizza
restaurant offering wood-fired pies and craft beer in bright,
laid-back digs. The company is based in Salida, Colo.
The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Colo. Case No. 23-16046) on December 29,
2023, with up to $10 million in both assets and liabilities. Joli
Lofstedt, Esq., serves as Subchapter V trustee.
Judge Thomas B Mcnamara oversees the case.
The Debtor tapped Jeffrey A. Weinman, Esq., at Allen Vellone Wolf
Helfrich & Factor, PC as legal counsel; Ayn Hanselmann, CPA, at
Troiano & Hanselmann, Inc., as accountant; and Kaizen Management,
LLC as bookkeeper.
ARCH THERAPEUTICS: Issues $90,000 2024 First Note in Third Closing
------------------------------------------------------------------
Arch Therapeutics, Inc. disclosed in a Form 8-K Report that the
Company consummated a third closing of the convertible notes
offering on June 26, 2024.
As previously disclosed in the Current Report on Form 8-K filed by
the Company on May 21, 2024, the Company entered into a Securities
Purchase Agreement, dated May 15, 2024, with certain institutional
and accredited individual investors who have previously purchased
secured promissory notes from the Company, providing for the
issuance and sale by the Company to the investors certain Secured
Promissory Notes (the "2024 First Notes") convertible into shares
of common stock, par value $0.001 per share (the "Common Stock")
(the "Convertible Notes Offering"). The initial closing of the
Convertible Notes Offering occurred on May 15, 2024.
On June 18, 2024, the Company consummated a second closing on June
12, 2024, of the Convertible Notes Offering pursuant to the terms
and conditions of the SPA with a certain institutional investor
(the "Investor") providing for the issuance and sale by the Company
to the Investor a 2024 First Note convertible into shares of Common
Stock. The 2024 First Note was issued as part of the Convertible
Notes Offering previously authorized by the Company's board of
directors. In connection with the Second Closing of the Convertible
Notes Offering, the Company issued and sold to the Investor a 2024
First Note in the principal amount of $180,000, which includes a
$30,000 original issue discount in respect of the 2024 First Note.
The net proceeds for the sale of the 2024 First Note was
approximately $150,000, after deducting issuance discounts. The
Second Closing of the sale of the 2024 First Note under the SPA
occurred on June 12, 2024.
On June 26, 2024, the Company consummated a third closing of the
Convertible Notes Offering pursuant to the terms and conditions of
the SPA with the Investor providing for the issuance and sale by
the Company to the Investor an additional 2024 First Note
convertible into shares of Common Stock. The 2024 First Note was
issued as part of the Convertible Notes Offering previously
authorized by the Company's board of directors. In connection with
the Third Closing of the Convertible Notes Offering, the Company
issued and sold to the Investor a 2024 First Note in the principal
amount of $90,000, which includes a $15,000 original issue discount
in respect of the 2024 First Note. The net proceeds for the sale of
the 2024 First Note was approximately $75,000, after deducting
issuance discounts. The Third Closing of the sale of the 2024 First
Note under the SPA occurred on June 26, 2024.
A full-text copy of the Company's Report with further information
is available at:
https://tinyurl.com/3dcadtr4
About Arch Therapeutics Inc.
Framingham, Mass.-based Arch Therapeutics, Inc. is a biotechnology
company developing and marketing a products based on its innovative
AC5 self assembling technology platform.
As of December 31, 2023, the Company had $1,821,947 in total
assets, $11,397,463 in total current liabilities, and $9,575,516 in
total stockholders' deficit.
Los Angeles, Calif.-based Weinberg & Company, P.A., the Company's
auditor since 2024, issued a "going concern" qualification in its
report dated February 14, 2024, citing that during the year ended
September 30, 2023, the Company incurred a net loss and utilized
cash flows in operations, and has had recurring losses since
inception. These conditions raise substantial doubt about the
Company's ability to continue as a going concern.
ARGENTARIA REAL ESTATE: Case Summary & Six Unsecured Creditors
--------------------------------------------------------------
Debtor: Argentaria Real Estate, LLC
9901 S Keystone Drive
Pharr, TX 78577
Business Description: Argentaria Real Estate is a Single Asset
Real Estate debtor (as defined in 11 U.S.C.
Section 101(51B)).
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 24-70155
Judge: Hon. Eduardo V Rodriguez
Debtor's Counsel: T. Josh Judd, Esq.
ANDREWS MYERS, P.C.
1885 Saint James Place, 15th Floor
Houston, TX 77056
Tel: 713-850-4200
Fax: 832-786-4877
Email: jjudd@andrewsmyers.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Heriberto Vlaminck Ley, member & sole
manager.
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/UMI65HA/Argentaria_Real_Estate_LLC__txsbke-24-70155__0001.0.pdf?mcid=tGE4TAMA
ASSETS HOLDING: Taps Hightower as Tax Service Provider
------------------------------------------------------
Assets Holding Partnership, LTD seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Hightower Tax Associates, LLC and Jamie Hightower, IRS Enrolled
Agent as its bookkeeper and tax service provider.
Hightower will provide tax preparation and services related to its
Chapter 11 case, including assistance with the preparation of
monthly operating reports.
Hightower will be paid $150 per hour for its services.
As disclosed in the court filings, Hightower is a "disinterested
person" within the meaning of Sec. 101(14) of the Bankruptcy Code.
The firm can be reached through:
Jamie Hightower, IRS, EA
Hightower Tax Associates, LLC
280 Miron Drive
Southlake, TX 76092
Tel: (817) 749-0721
About Assets Holding Partnership
Assets Holding Partnership, LTD sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 24-31741) on
April 18, 2024, with $100,001 to $500,000 in assets and
liabilities.
Judge Eduardo V. Rodriguez presides over the case.
Reese W. Baker, Esq., at Baker & Associates represents the Debtor
as legal counsel.
BACONE COLLEGE: Seeks to Hire Brown Law Firm as Attorney
--------------------------------------------------------
Bacone College seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Oklahoma to hire Brown Law Firm, P.C. as
its attorney.
The firm will render these services:
a. negotiate allowed claims and treatment of creditors;
b. render legal advice and preparation of legal documents and
pleadings concerning claims of creditors, post-petition financing,
executing contracts, sale of assets, insurance, etc;
c. represent the Debtor in hearings and other contested
matters;
d. formulate a plan of reorganization; and
e. provide all other matters needed for reorganization.
Brown Law Firm will be paid at these rates:
Ron D. Brown, Esq. $350 per hour
Associate $250 per hour
Paralegal $75 per hour
The firm received from the Debtor an advance retainer of $15,000.
Ron Brown, Esq., at Brown Law Firm, disclosed in a court filing
that all members of his firm are "disinterested" within the meaning
of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Ron D. Brown, Esq.
Brown Law Firm, P.C.
715 S. Elgin Ave
Tulsa, OK 74120
Tel: (918) 585-9500
Fax: (866) 552-4874
Email: ron@ronbrownlaw.com
About Bacone College
Bacone College is a private college in Muskogee, Oklahoma founded
in 1880 to educate American Indian students. As a historical
American-Indian serving institution, Bacone College provides
holistic, liberal arts, educational experience for students in a
culturally diverse environment.
Bacone College filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Okla. Case No.
24-80487) on June 21, 2024, listing $10 million to $50 million in
assets and $1 million to $10 million. The petition was signed by
Josh Johns as Board Member.
Judge Paul R Thomas presides over the case.
Ron Brown, Esq. at BROWN LAW FIRM PC represents the Debtor as
counsel.
BEITLER TEXAS: Case Summary & Two Unsecured Creditors
-----------------------------------------------------
Debtor: Beitler Texas Enterprises LLC
825 S. Barrington Ave.
Los Angeles, CA 90049
Business Description: The Debtor is engaged in activities related
to real estate.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Central District of Texas
Case No.: 24-15228
Debtor's Counsel: Gary E. Klausner, Esq.
LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
2818 La Cienega Ave.
Los Angeles, CA 90034
Tel: (310) 229-1234
E-mail: GEK@LNBYG.COM
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Logan A. Beitler, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's two unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/34WLN3Q/Beitler_Texas_Enterprises_LLC__cacbke-24-15228__0001.0.pdf?mcid=tGE4TAMA
BIJOU HILL: Amends Unsecureds & Farmers Bank Secured Claims Pay
---------------------------------------------------------------
Bijou Hill Dairy, Inc. submitted a First Amended Disclosure
Statement describing First Amended Plan of Reorganization dated
June 18, 2024.
The Dairy Farm operation, including the Collateral and real
property, is, again, all subject to the security interest of
Farmers. The Debtor operates on the Dairy Farm, but does not own
the Dairy Farm or real estate itself.
However, the Debtor has guaranteed the Farmers loan to the Trust
for their purchase of the Dairy Farm, such that the Debtor
acknowledges and agrees that Farmers is not only fully secured by
the Collateral, but also the Dairy Farm itself, which is essential
to the Debtor's operations.
Following Confirmation of the Plan, the Debtor intends to continue
operating on the Dairy Farm, which shall, in part, provide the
income necessary to fund the Plan and make payments on a certain
proposed Promissory Note to Farmers. In particular, milk prices
continue to rise and should provide sufficient income to fund this
Plan.
Following Confirmation of its Plan, the Debtor's property will re
vest in the Reorganized Debtor subject to liens and encumbrances of
record not otherwise dealt with in the Plan.
The Debtor will continue to operate on the Dairy Farm and use
revenues generated from operations to pay operating expenses and
secured creditors. Net Income, as defined in the Plan and after
accumulation of $250,000.00 in Working Capital Reserves, shall be
paid pro-rata to unsecured creditors over the 5-year Plan term.
Class One shall consist of Farmers Bank's allowed secured claim in
the amount of $3,450,000.00, which reflects an agreement between
Debtor and Farmers pursuant to a Consolidated Promissory Note and
Agreement for Modification of Loans, Ratification and
Acknowledgement of Debts (the "Consolidated Promissory Note").
Specifically, the loans secured by the Farmers Security Agreements
shall be consolidated into and reflected by one Consolidated
Promissory Note in the stipulated aggregate amount of
$3,450,000.00, which shall be paid to Farmers in equal monthly
installments of $23,500.00 commencing on the 20th day of the month
after entry of the Confirmation Order, with monthly payments being
made on the 20th day of each month thereafter, utilizing a 25-year
amortization schedule, at a non-default interest rate of 6.5% per
annum (the "Market Rate").
Interest shall begin to accrue upon entry of the Confirmation
Order. In the event of a default under the Consolidated Promissory
Note, interest shall accrue at a default rate of 10.5% per annum.
Notwithstanding any other provisions, if not sooner due and paid,
the entire unpaid balance of the Consolidated Promissory Note shall
be due and payable to Farmers not later than the fifth anniversary
thereof.
As part of the Consolidated Promissory Note, Debtor will stipulate
and agree that its obligations to Farmers are fully secured from
two closely related: (a) the Collateral, as defined in the Plan,
and (b) the Dairy Farm real property owned by the Trust which is
leased to the Debtor, essential to its operations and subject to a
real estate secured loan from Farmers and guaranteed by Debtor
which is and has been in material, continuing default.
Class Three consists of allowed Unsecured Claims against the
Debtor. The unsecured creditors shall receive semi-annual payments
pro rata over the Plan term of five years from Net Income in
amounts not to exceed allowed claims, beginning on or about October
31, 2026. Pursuant to the projections, projected payments total to
$280,243.87. Notwithstanding the foregoing or anything to the
contrary herein, the Debtor, in its sole discretion, may pay the
claims in Class Three in full at any time prior to the end of the
Plan. Class Three is Impaired under the Plan.
As defined in the Plan, Net Income means annual net income the
Debtor earns from continued business operations for 5 years, after
deducting normal operating expenses, unclassified allowed Chapter
11 Administrative Expenses, and allowed unsecured priority claims,
after Debtor has accumulated a Working Capital Reserve of
$250,000.00 and/or replenished the same on an annual basis.
The Debtor proposes the Consolidated Promissory Note for its debt
owed to Farmers. CNH will be paid on its secured claim over 12
months as described herein, beginning on the Effective Date of the
Plan. Additionally, the CDR's secured tax claim will be paid in
accordance with the provisions of Sections 1129(a)(9)(C) and
1129(a)(9)(D), beginning on the Effective Date of the Plan.
The Debtor will otherwise continue to operate its business. The
Debtor's Net Income shall be used to pay holders of Allowed
Unsecured Claims.
A full-text copy of the First Amended Disclosure Statement dated
June 18, 2024 is available at https://urlcurt.com/u?l=UzAuh7 from
PacerMonitor.com at no charge.
Attorneys for the Debtor:
Jeffrey A. Weinman, Esq.
Patrick D. Vellone, Esq.
Bailey C. Pompea, Esq.
Allen Vellone Wolf Helfrich & Factor P.C.
1600 Stout Street, Suite 1900
Denver, CO 80202
Telephone: (303) 534-4499
Email: JWeinman@allen-vellone.com
PVellone@allen-vellone.com
BPompea@allen-vellone.com
About Bijou Hill Dairy
Bijou Hill Dairy, Inc. is a family dairy farm in Byers, Colorado
owned by the Pearson family.
The Debtor sought Chapter 11 bankruptcy protection (Bankr. D. Colo.
Case No. 23-13238) on July 21, 2023, with $3,650,705 in total
assets and $4,486,904 in total liabilities. Larry Pearson,
president, signed the petition.
Judge Michael E. Romero oversees the case.
Allen Vellone Wolf Helfrich & Factor PC serves as the Debtor's
legal counsel.
BMA LLC: Seeks to Hire Tiffany & Bosco as Bankruptcy Counsel
------------------------------------------------------------
BMA LLC seeks approval from the U.S. Bankruptcy Court for the
District of Arizona to hire Tiffany & Bosco, P.A. as its counsel.
The firm's services include:
a. giving Debtor legal advice with respect to its duties and
powers in the case;
b. preparing motions and representing Debtor at all hearings,
meetings of creditors, conferences, trial and other proceedings and
administrative matters in this cases;
c. reviewing and objecting to claims;
d. evaluating causes of action belonging to the Bankruptcy
Estate, providing advice to Debtor regarding such actions, and
filing Complaints initiating and prosecuting causes of action
belonging to the Estate;
e. assisting Debtor in the administration of its Bankruptcy
Case and the operation of Debtor's business and the desirability of
the continuance of such business, and any other matter relevant to
the case or to the formulation of a Plan;
f. participating with Debtor in the formulation of a Chapter
11 Plan of Reorganization, preparing a Plan and obtaining
confirmation of such a Plan; and
g. performing such other legal services as may be required in
the interest of the Debtor and the Bankruptcy Estate.
The firm will be paid at these rates:
Christopher R. Kaup, Esq. $575 per hour
David M. Barlow $350 per hour
Matthew D. Burns $250 per hour
Bianca Ochoa $125 per hour
The firm will also be reimbursed for its out-of-pocket expenses.
Christopher Kaup, Esq., a partner at Tiffany & Bosco, disclosed in
a court filing that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Christopher R. Kaup, Esq.
David Barlow, Esq.
TIFFANY & BOSCO, P.A.
2525 East Camelback Road
Phoenix, AZ 85016-4237
Tel: (602) 255-6000
Fax: (602) 255-0103
Email: crk@tblaw.com
dmb@tblaw.com
About BMA LLC
Alleged creditors filed an involuntary Chapter 11 petition for BMA
LLC (Bankr. D. Ariz. Case No. 24-02602) on Apr. 5, 2024. The
alleged creditors are Cory Lucas, Chaney Gifford, and Dan Earl.
BMI YS: Seeks to Hire Heymann Realty as Real Estate Broker
----------------------------------------------------------
BMI Y.S., LLC seeks approval from the U.S. Bankruptcy Court for the
District of Maryland to hire agent/broker Shahzad Yazdani of
Heymann Realty, LLC as real estate broker.
Mr. Yazdani will market and sell the Debtor's property located at
4311 Fernhill Avenue, Baltimore, MD 21215 and 2814 West Cold Spring
Lane, Baltimore, MD 21215.
The commission to Mr. Yazdani is 5 percent of the gross purchase
price.
Mr. Yazdani assured the court that he represents no interest
adverse to the Debtor or the estate in the matters upon which he is
to be engaged.
The firm can be reached through:
Shahzad Yazdani
Heymann Realty, LLC
12510 Prosperity Dr #100
Silver Spring, MD 20904
Phone: (301) 439-1180
Email: shazyazdani@gmail.com
About BMI Y.S., LLC
BMI Y.S., LLC sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Md. Case No. 24-14214) on May 16, 2024,
listing $100,001 to $500,000 in assets and up to $50,000 in
liabilities.
Judge Maria Ellena Chavez-Ruark presides over the case.
Kevin R. Feig, Esq. at Mcnamee Hosea, PA represents the Debtor as
counsel.
BOURLAND PROPERTIES: Kristofor Sodergren Named Subchapter V Trustee
-------------------------------------------------------------------
J. Thomas Corbett, the U.S. Bankruptcy Administrator for the
Northern District of Alabama, appointed Kristofor Sodergren as
Subchapter V Trustee for Bourland Properties, LLC.
The Subchapter V trustee can be reached at:
Kristofor D. Sodergren
2200 Jack Warner Parkway, Suite 200
Tuscaloosa, Alabama 35401
Telephone: (205) 344-5000
Email: ksodergren@rosenharwood.com
About Bourland Properties
Bourland Properties, LLC filed Chapter 11 bankruptcy petition
(Bankr. N.D. Ala. Case No. 24-70811) on June 19, 2024, with as much
as $1 million in both assets and liabilities.
Judge Jennifer H. Henderson presides over the case.
Marshall Entelisano, Esq., at Marshall A. Entelisano, P.C.
represents the Debtor as legal counsel.
CALAMP CORP: Securities Delisted From Nasdaq Effective July 8
-------------------------------------------------------------
The Nasdaq Stock Market LLC disclosed in a 25-NSE Report filed with
the U.S. Securities and Exchange Commission that on June 28, 2024,
it has determined to remove from listing the securities of CalAmp
Corp., effective at the opening of the trading session on July 8,
2024.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rules 5101, 5110(b), IM-5101-1,
and 5450(b)(1)(A).
The Company was notified of the Staff determination on June 3,
2024. The Company did not appeal the Staff determination to the
Hearings Panel. The Company securities were suspended on June 12,
2024. The Staff determination to delist the Company securities
became final on June 12, 2024.
About CalAmp Corp.
CalAmp (Nasdaq: CAMP) provides flexible solutions to help
organizations worldwide monitor, track and protect their vital
assets. Its unique device-enabled software and cloud platform
enables commercial and government organizations worldwide to
improve efficiency, safety, visibility and compliance while
accommodating the unique ways they do business. With over 10
million active edge devices and 275+ approved or pending patents,
CalAmp is the telematics leader organizations turn to for
innovation and dependability. On the Web: http://www.calamp.com/
On June 3, 2024, CalAmp Corp. and three affiliated debtors, namely,
CalAmp Wireless Network Corporation, LoJack Global LLC, and Synovia
Solutions, LLC (Bankr. D. Del. Lead Case No. 24-11136). The
Honorable Laurie Selber Silverstein is the case judge. CalAmp
reports $281 million in assets and $355 million in liabilities as
of the bankruptcy filing. The Debtors have $275 million of funded
debt obligations, specifically $45 million in term loans and $230
million in secured notes.
Potter Anderson & Corroon is serving as lead counsel. Bradley Arant
Boult Cummings serves as special counsel for the Company.
Oppenheimer & Co. Inc., is the financial advisor, and Stretto is
the claims agent.
CAR CONNECTIONS: Seeks to Hire Madoff & Khoury as Legal Counsel
---------------------------------------------------------------
Car Connections Inc. seeks approval from the Bankruptcy Court for
the District of Massachusetts to employ Madoff & Khoury LLP to
handle its Chapter 11 case.
The firm will be paid at these rates:
Partner Time $450/hour
Associate Time $350/hour
Paralegals $160/hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
The firm received a retainer in the amount of $31,800.
David B. Madoff, a partner at Madoff & Khoury LLP, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
David B. Madoff, Esq.
Steffani M. Pelton, Esq.
MADOFF & KHOURY LLP
124 Washington Street
Foxboro, MA 02035
Telephone: (508) 543-0040
Email: madoff@mandkllp.com
About Car Connections Inc.
Car Connections is a car dealership based in Sommerset, MA.
Car Connections Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No.
24-11246) on June 21, 2024, listing $5,006,636 in assets and
$3,186,229 in liabilities. The petition was signed by Antonio
Rodrigues as president.
Judge Janet E Bostwick presides over the case.
David B. Madoff, Esq. at MADOFF & KHOURY LLP represents the Debtor
as counsel.
CEDAR CIRCLE: Hires Joyce W. Lindauer Attorney PLLC as Counsel
--------------------------------------------------------------
Cedar Circle Group, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to employ Joyce W. Lindauer
Attorney, PLLC as counsel.
Joyce W. Lindauer Attorney, PLLC to serve as legal counsel in its
Chapter 11 case.
The firm's hourly rates are as follows:
Joyce W. Lindauer, Esq. $495 per hour
Sydney Ollar, Esq. $295 per hour
Laurance Boyd, Esq. $250 per hour
Dian Gwinnup $225 per hour
The Debtor received from the Debtor the amount of $26,738,
inclusive of filing fee.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Joyce Lindauer, Esq., the owner of the law firm, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Joyce W. Lindauer, Esq.
Joyce W. Lindauer Attorney, PLLC
1412 Main Street, Suite 500
Dallas, TX 75202
Tel: (972) 503-4033
Fax: (972) 503-4034
Email: joyce@joycelindauer.com
About Cedar Circle Group, LLC
Cedar Circle Group LLC, d/b/a Cedar Circle Apartments, is a Single
Asset Real Estate debtor (as defined in 11 U.S.C. Section
101(51B)).
Cedar Circle Group LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-60309) on June 3,
2024. In the petition signed by Carl Marion, as manager, the Debtor
reports estimated assets and liabilities between $1 million and $10
million each.
The Honorable Bankruptcy Judge Michael M Parker oversees the case.
The Debtor is represented by Joyce W. Lindauer, Esq., at Joyce W.
Lindauer Attorney, PLLC.
CITIGROUP 2024-RP3: Fitch Assigns Bsf Final Rating on Cl. B-2 Notes
-------------------------------------------------------------------
Fitch Ratings has assigned final ratings to Citigroup Mortgage Loan
Trust 2024-RP3 (CMLTI 2024-RP3).
Entity/Debt Rating
----------- ------
CMLTI 2024-RP3
A-1 LT AAAsf New Rating
A-2 LT AAsf New Rating
A-3 LT AAsf New Rating
A-4 LT Asf New Rating
A-5 LT BBBsf New Rating
M-1 LT Asf New Rating
M-2 LT BBBsf New Rating
B-1 LT BBsf New Rating
B-2 LT Bsf New Rating
B-3 LT NRsf New Rating
B-4 LT NRsf New Rating
B-5 LT NRsf New Rating
B LT NRsf New Rating
X LT NRsf New Rating
SA LT NRsf New Rating
PT LT NRsf New Rating
PT-1 LT NRsf New Rating
R LT NRsf New Rating
TRANSACTION SUMMARY
The CMLTI 2024-RP3 notes are supported by 6,329 seasoned performing
loans (SPLs) and reperforming loans (RPLs) with a total balance of
about $1.43 billion, including $36.1 million, or 2.5% of the
aggregate pool balance, in noninterest-bearing deferred principal
amounts as of the cutoff date.
Distributions of P&I and loss allocations are based on a
traditional, senior-subordinate, sequential structure. The
sequential-pay structure locks out principal to the subordinated
notes until the most senior notes outstanding are paid in full. The
servicer will not advance delinquent monthly payments of P&I.
KEY RATING DRIVERS
Updated Sustainable Home Prices (Negative): Due to Fitch's updated
view on sustainable home prices, Fitch views the home price values
of this pool as 11.3% above a long-term sustainable level (vs.
11.1% on a national level as of 4Q23), remained unchanged since
last quarter. Housing affordability is the worst it has been in
decades driven by both high interest rates and elevated home
prices. Home prices have increased 5.5% YoY nationally as of
February 2024 despite modest regional declines, but are still being
supported by limited inventory.
Distressed Performance History and RPL Credit Quality (Negative):
The collateral pool primarily consists of peak-vintage SPLs and
RPLs. The collateral is seasoned at approximately 118 months in
aggregate, as calculated by Fitch, with 17.8% of the pool by unpaid
principal balance (UPB) being originated before 2010. The remaining
82.2% of loans were originated between 2010 and 2021.
Of the pool, 1.0% of loans are delinquent as of the cutoff date and
14.0%, as calculated by Fitch, are current but have had
delinquencies within the past 24 months. Fitch increased its loss
expectations to account for the delinquent loans and loans with
prior delinquencies. Additionally, 98.1% of the loans have a prior
modification.
Borrowers have a moderate credit profile (696.57 FICO, as
calculated by Fitch, based on updated FICO scores provided on the
loan level and a 40.2% debt-to-income [DTI] ratio).
Low Leverage (Positive): All loans seasoned over 24 months received
updated property values, translating to a Fitch-derived, weighted
average (WA), current mark-to-market (MtM) combined loan-to-value
ratio (cLTV) of 49.4% and a sustainable LTV (sLTV) of 55.9% at the
base case. Updated broker price opinions (BPOs) were provided on
all loans seasoned at more than two years in the pool and were used
to calculate the Fitch-derived LTVs. This reflects low-leverage
borrowers and is stronger than in recently rated SPL/RPL
transactions.
Sequential-Pay Structure and No Servicer P&I Advances (Mixed): The
transaction's cash flow is based on a sequential-pay structure
whereby the subordinated classes do not receive principal until the
senior classes are repaid in full. Losses are allocated in
reverse-sequential order. Furthermore, the provision to reallocate
principal to pay interest on the 'AAAsf' rated note prior to other
principal distributions is highly supportive of timely interest
payments to those classes in the absence of servicer advancing.
Interest and interest shortfalls are paid sequentially.
The servicer will not advance delinquent monthly payments of P&I,
which reduces liquidity to the trust. P&I advances made on behalf
of loans that become delinquent and eventually liquidate reduce
liquidation proceeds to the trust. Due to the lack of P&I
advancing, the loan-level loss severity (LS) is less for this
transaction than for those where the servicer is obligated to
advance P&I. Structural provisions and cash flow priorities,
together with increased subordination, provide for timely payments
of interest to the 'AAAsf' rated class. Under Fitch's updated
criteria approach, Fitch only expects timely interest for 'AAAsf'
rated classes (Global Structured Finance Rating Criteria).
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
Fitch incorporates a sensitivity analysis to demonstrate how the
ratings would react to steeper market value declines (MVDs) than
assumed at the MSA level. Sensitivity analysis was conducted at the
state and national levels to assess the effect of higher MVDs for
the subject pool as well as lower MVDs, illustrated by a gain in
home prices.
This defined negative rating sensitivity analysis demonstrates how
ratings would react to steeper MVDs at the national level. The
analysis assumes MVDs of 10.0%, 20.0% and 30.0%, in addition to the
model-projected 42.3%, at 'AAA'. The analysis indicates there is
some potential rating migration, with higher MVDs for all rated
classes compared with the model projection. Specifically, a 10%
additional decline in home prices would lower all rated classes by
one full category.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
The defined positive rating sensitivity analysis demonstrates how
the ratings would react to positive home price growth of 10.0% with
no assumed overvaluation. Excluding the senior class, which is
already rated 'AAAsf', the analysis indicates there is potential
for positive rating migration for all of the rated classes.
Specifically, a 10.0% gain in home prices would result in a full
category upgrade for the rated classes excluding those being
assigned ratings of 'AAAsf'.
USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10
Fitch was provided with Form ABS Due Diligence-15E (Form 15E) as
prepared by SitusAMC. The third-party due diligence review was
completed on 100% of the loans in this transaction. The scope of
the due diligence review was consistent with Fitch criteria for
seasoned collateral. Fitch considered this information in its
analysis and, as a result, Fitch made the following adjustments:
increased the LS due to HUD-1 issues, missing modification
agreements, as well as delinquent taxes and outstanding liens.
These adjustments resulted in an increase in the 'AAAsf' expected
loss of approximately 2bps.
ESG CONSIDERATIONS
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
CLASS ACT RESTAURANT: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Class Act Restaurant Group, LLC
202 SE 21st Avenue
Deerfield Beach, FL 33441
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 24-16626
Judge: Hon. Peter D Russin
Debtor's Counsel: David A. Ray, Esq.
DAVID A. RAY, P.A.
303 SW 6th Street
Fort Lauderdale, FL 33315
Tel: 954-399-0105
Email: dray@draypa.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Panagiota Lazarou-Amanna, authorized
representative of the Debtor.
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/MO4CEZI/Class_Act_Restaurant_Group_LLC__flsbke-24-16626__0001.0.pdf?mcid=tGE4TAMA
CMM MINEOLA: Seeks to Hire Patrick Kelley as Attorney
-----------------------------------------------------
CMM Mineola LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Texas to hire Patrick Kelley, PLLC as
attorneys.
The firm will appear for, prosecute, and defend in the bankruptcy
proceeding, including providing advice to Debtor, the preparation
and filing of the petition, schedules, and statement of financial
affairs, the preparation and filing of a disclosure statement and
plan of reorganization, negotiation with creditors, review of
executory contracts, review of claims, the response to and
appearance at hearings on contested matters, and for any further
matters which may arise.
The firm's current rates:
Pat Kelley $400 per hour
Paralegal $125 per hour
The firm paid $15,000 as payment for pre-bankruptcy services.
Patrick Kelley, Esq., at Kelley, disclosed in a court filing that
he and his firm are "disinterested" as defined in section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Patrick Kelley, Esq.
Patrick Kelley, PLLC
112 E. Line Street, Suite 203
Tyler, TX 75702
Telephone: (903) 630-5151
Email: pat@patkelleylaw.com
About CMM Mineola LLC
CMM Mineola LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-60336) on June 3,
2024. In the petition filed by Chad Cable, as managing member, the
Debtor reports estimated assets and liabilities between $10 million
and $50 million each.
The Debtor is represented by Michael E. Gazette, Esq.
COMPLETE BEVERAGE: Seeks to Hire David W. Langley as Counsel
------------------------------------------------------------
Complete Beverage Center Inc. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Florida to hire David
W. Langley, Attorney At Law, as its legal counsel.
The firm will provide these services:
a. give advice to the Debtor with respect to its powers and
duties and the continued management of its business operations;
b. advise the Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the Rules of Court;
c. prepare motions, pleadings, orders, applications, adversary
proceedings, and other legal documents necessary in the
administration of the Debtor's Chapter 11 case;
d. protect the interest of the Debtor in all matters pending
before the court; and
e. represent the Debtor in negotiation with its creditors in the
preparation of a Chapter 11 plan.
The firm will be paid based upon its normal and usual hourly
billing rates. It will also be reimbursed for reasonable
out-of-pocket expenses incurred.
David Langley, Esq., assured the court that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached at:
David W. Langley, Esq.
8551 W. Sunrise Boulevard, Suite 303
Plantation, FL 33322
Tel: (954) 356-0450
Fax: (954) 356-0451
Email: dave@flalawyer.com
About Complete Beverage Center
Complete Beverage Center Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla.
Case No. 24-16099) on June 20, 2024, listing $100,001 to $500,000
in assets and up to $50,000 in liabilities.
Judge Scott M Grossman presides over the case.
David W. Langley, Attorney At Law is the Debtor's counsel.
CONG. BETH JOSEPH: Hires Shafferman & Feldman LLP as Counsel
------------------------------------------------------------
Cong. Beth Joseph Joseph Zwi Dushinsky seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire
Shafferman & Feldman LLP as counsel.
The Debtor requires legal counsel to:
(a) give advice with respect to the powers and duties of the
Debtor in the continued operation of its business and the
management of its property;
(b) negotiate with creditors, prepare a Chapter 11 plan of
reorganization, and take the necessary legal steps to consummate a
plan;
(c) appear before taxing authorities to work out a plan to pay
taxes owing in installments;
(d) prepare legal papers;
(e) appear before the court; and
(f) perform all other necessary legal services for the
Debtor.
The firm received a retainer in the amount of $21,790, which is
inclusive of the filing fee.
Joel Shafferman, Esq., a member of Shafferman & Feldman and the
primary attorney in this representation, will be paid at his hourly
rate of $450.
Mr. Shafferman disclosed in a court filing that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Joel M. Shafferman, Esq.
Shafferman & Feldman, LLP
137 Fifth Avenue, 9th Floor
New York, NY 10010
Telephone: (212) 509-1802
Email: shaffermanjoel@gmail.com
About Cong. Beth Joseph Joseph Zwi Dushinsky
Cong. Beth Joseph Joseph Zwi Dushinsky is a tax-exempt religious
organization.
Cong. Beth Joseph Joseph Zwi Dushinsky filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y.
Case No. 24-42127) on May 22, 2024, listing $1 million to $10
million in both assets and liabilities. The petition was signed by
Theodore Welz as chief restructuring officer.
Judge Elizabeth S. Stong presides over the case.
Joel M. Shafferman, Esq. at SHAFFERMAN & FELDMAN LLP represents the
Debtor as counsel.
CORSAIR GAMING: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
---------------------------------------------------------------
S&P Global Ratings revised its rating outlook to stable from
negative and affirmed the 'BB-' issuer credit rating on Corsair
Gaming Inc., based on its expectation of sustained improvement in
credit metrics.
S&P's 'BB-' issue-level ratings and '3' (rounded estimate: 60%)
recovery ratings are unchanged.
S&P said, "The stable outlook reflects our forecast for modest
revenue and EBITDA growth over the next 12 to 24 months. While we
project the company to sustain relatively low leverage,
financial-sponsor ownership limits the near-term upgrade
potential."
Corsair, a manufacturer of high-performance gaming components and
peripherals, reported improving performance over recent quarters as
channel inventory correction nears completion and broader demand in
the hardware and gaming market recovers.
S&P said, "The outlook revision reflects Corsair's performance
recovery and our expectation for modest revenue growth over the
next 12 months. Corsair's revenues have stabilized and grown
modestly since the June quarter of 2023 as the gaming hardware and
peripherals market began recovering from and overhang of excess
channel inventory. We expect growth to continue, albeit at a modest
3% rate as the company still faces weak underlying PC demand.
Corsair's gamer and creator peripherals segment should outperform
the corporate average and sustain strong momentum, driven by new
product launches, portfolio expansion, and end market demand less
tightly coupled to GPU launch cycles. This growth will be partially
offset by a modest decline in the gaming components and systems
segment, which typically aligns more tightly with GPU and CPU
release cycles. With the last generation launched in late 2022,
subdued demand may persist until the new generation arrives in late
2024 or 2025. We project higher revenue growth of about 10% next
year, bolstered by the next upgrade and replacement cycle.
"The stable outlook reflects our expectation that Corsair will
increase both revenue and EBITDA modestly over the next 12-24
months, largely on recent new product launches and gamers' demand
for higher-performance components. We expect the company will
sustain leverage at or below 2x, incorporating the impact of
additional tuck-in acquisitions."
S&P could lower the rating on Corsair over the next 12 months if it
expects:
-- Adjusted debt to EBITDA to increase above 3x on a sustained
basis; or
-- Free cash flow significantly deteriorates.
Such a scenario could arise from a general downturn in the PC
gaming hardware market, supply chain or other operational
constraints, a weakened macroeconomic environment reducing
customers' discretionary spending, or an aggressive leveraged
merger or acquisition.
Given Corsair's sponsor ownership, upside is limited over the next
12 months. However, beyond that S&P would consider an upgrade if
the company:
-- Reduces sponsor ownership below 40% and loosens board
influence;
-- Maintains leverage below 2x; and
-- Improves its margin profile over a longer period.
CREDIVALORES-CREDISERVICIOS: Davis Polk Updates List of Noteholders
-------------------------------------------------------------------
The law firm of Davis Polk & Wardwell LLP filed a first amended
verified statement pursuant to Rule 2019 of the Federal Rules of
Bankruptcy Procedure to disclose that in the Chapter 11 case of
Credivalores-Crediservicios S.A., the firm represents the Ad Hoc
Group of Noteholders.
In or around March 2024, a group formed by certain holders, or
investment advisors or managers acting on behalf of holders (each,
a "Member" and, together, the "Ad Hoc Group"), of 8.875% Senior
Notes due 2025 (the "Old Notes") issued by the Debtor pursuant to
that certain Indenture, dated February 7, 2020 (the "Indenture"),
by and between the Debtor, as issuer, and The Bank of New York
Mellon, as trustee, engaged Davis Polk to represent it in
connection with potential transactions with, or any restructuring
of, the Debtor.
The Members, collectively, beneficially own (or are the investment
advisors or managers for funds that beneficially own) or manage
approximately $59,312,000 in aggregate principal amount of the Old
Notes.
Davis Polk does not hold any claims against, or interests in, the
Debtor or its estate, other than claims for fees and expenses
incurred in representing the Ad Hoc Group. Davis Polk's address is
450 Lexington Avenue, New York, New York 10017.
The names and addresses of each of the members of the Ad Hoc Group
of Noteholders, together with the nature and amount of the
disclosable economic interests held by each of them in relation to
the Debtor are as follows:
1. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by A3E CAPITAL SICAV P.L.C.
Quad Central, Q3 Level 9
Triq L-Esportaturi Zone 1
Birkirkara CBD1040, Malta
* $1,500,000
2. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by ABSALON CAPITAL A/S and FORMUEPLEJE A/S
Tuborg Havnevej 15
2900 Hellerup, Denmark
* $4,000,000
3. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by BANK JULIUS BAER
25, Grand-Rue
L-1661 Luxembourg
* $3,500,000
4. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by BTG ASSET MANAGEMENT S.A. DTVM
Avenida Brigadeiro Faria
Lima, 3477, 12th floor,
Itaim Bibi, São Paulo / SP, Brazil
* $5,650,000
5. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by PROTECTED CELL CH1275642531, A CELL OF C
CAPITAL MARKETS ISSUER PCC LTD
Suite 6 Provident House, Havilland Street
St Peter Port, GY1 2QE, Guernsey
* $653,000
6. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by FIRST GENEVA CAPITAL PARTNERS
5 cours des Bastions
1205 Geneva, Switzerland
* $2,000,000
7. INDIVIDUAL HOLDER (name on file)
* $1,550,000
8. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by JULIUS BAER - PRIVATE BANKING
Bahnhofstrasse 36, P.O. Box,
8010 Zürich, 8001 Switzerland
* $1,800,000
9. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
or controlled by MONEDA S.A. ADMINISTRADORA GENERAL DE FONDOS
Isidora Goyenechea 3621
Floor 8, 7550110
Santiago, Las Condes Chile
* $12,032,000
10. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed,
advised, or controlled by SANDGLASS CAPITAL ADVISORS LLC
1133 Broadway, Suite 1528
New York, NY 10010
* $10,500,000
11. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed,
advised, or controlled by TMF CUSTOMS HOUSE
OYIA Business Centre, Suite 301
Cross Roads, Marsa, MRS1547, Malta
* $200,000
12. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed,
advised, or controlled by VONTOBEL HOLDING AG
Gotthardstrasse 43
8022 Zurich, Switzerland
* $12,427,000
13. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed,
advised, or controlled by VP FUND SOLUTIONS (LIECHTENSTEIN) AG,
AS TRUSTEE OF SOLITAIRE FUND
Aeulestrasse 6
9490 Vaduz, Liechtenstein
* $3,500,000
Counsel to the Ad Hoc Group of Noteholders:
DAVIS POLK & WARDWELL LLP
Timothy Graulich, Esq.
Angela M. Libby, Esq.
Stephen D. Piraino, Esq.
Moshe Melcer, Esq.
450 Lexington Avenue
New York, New York 10017
Tel.: (212) 450-4000
About Credivalores-Crediservicios SAS
Credivalores-Crediservicios SAS operates as a financial services
company. The Company provides credit cards, micro lending, and
corporate loans. Credivalores-Crediservicios serves customers in
Colombia.
Credivalores-Crediservicios SAS sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-10837) on May
16, 2024. In its petition, the Debtor estimated assets and
liabilities up to $500 million.
Baker Mckenzie LLP is the Debtor's counsel.
DBL LLC: Michael Carmel Named Subchapter V Trustee
--------------------------------------------------
The U.S. Trustee for Region 14 appointed Michael Carmel of Michael
W. Carmel, Ltd. as Subchapter V trustee for DBL, LLC.
Mr. Carmel will be paid an hourly fee of $550 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Carmel declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Michael W. Carmel
Michael W. Carmel, Ltd.
80 E. Columbus Ave
Phoenix, AZ 85012-4965
Phone: 602-264-4965
Fax: 602-277-0144
Email: michael@mcarmellaw.com
About DBL LLC
DBL, LLC, a company in Tempe, Ariz., provides commercial
landscaping services for professionally-managed offices,
industrial, medical, retail and HOA properties.
The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 24-04961) on June 20,
2024, with $1 million to $10 million in both assets and
liabilities. Aric Budden, member and president, signed the
petition.
Judge Eddward P Ballinger Jr. presides over the case.
Randy Nussbaum, Esq., at Sacks Tierney P.A. represents the Debtor
as legal counsel.
DBL LLC: Seeks to Hire Sacks Tierney PA as Legal Counsel
--------------------------------------------------------
DBL, LLC seeks approval from the U.S. Bankruptcy Court for the
District of Arizona to employ Sacks Tierney, PA as counsel.
The firm will assist the Debtor in all matters associated with the
Debtor's Chapter 11 bankruptcy proceeding and represent the Debtor
in all hearings before the Bankruptcy Court and will negotiate and
resolve all issues related to the Debtor's Chapter 11 proceeding.
The firm will be paid at these rates:
Partners $395 to $600 per hour
Associates $300 to $400 per hour
Paralegals $205 to $240 per hour
In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.
As disclosed in a court filing that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Randy Nussbaum, Esq.
Philip R. Rudd, Esq.
Sacks Tierney P.A.
4250 N. Drinkwater Blvd., 4th Floor
Scottsdale, AZ 85251-3693
Tel: (480) 425-2600
Fax: (480) 970-4610
Email: Randy.Nussbaum@SacksTierney.com
Philip.Rudd@SacksTierney.com
About DBL, LLC
DBL provides commercial landscaping services for
professionally-managed offices, industrial, medical, retail and HOA
properties.
DBL, LLC in Tempe, AZ, filed its voluntary petition for Chapter 11
protection (Bankr. D. Ariz. Case No. 24-04961) on June 20, 2024,
listing as much as $1 million to $10 million in both assets and
liabilities. Aric Budden as member and president, signed the
petition.
Judge Eddward P Ballinger Jr. oversees the case.
SACKS TIERNEY P.A. serve as the Debtor's legal counsel.
DEL FUEGO: Hires DMP Brokers as Real Estate Broker
--------------------------------------------------
Del Fuego Paradise LLLP seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to employ DMP Brokers
d/b/a Prakas & Co as real estate broker.
The firm will market and sell the Debtor's real property located at
900 E Atlantic Ave., Delray Beach, FL 33483.
The firm will be paid a commission of 5 percent of the selling
price.
As disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Athan Charles Prakas
DMP Brokers d/b/a Prakas & Co
1800 NW 1st Court
Boca Raton, FL 33432
Tel: (561) 368-0003
About Del Fuego Paradise LLLP
Del Fuego Paradise, LLLP in Delray Beach, FL, filed its voluntary
petition for Chapter 11 protection (Bankr. S.D. Fla. Case No.
24-14934) on May 20, 2024, listing $5,500 in assets and $4,580,433
in liabilities. Daniel Murphy, Power of Attorney for Joseph
DiNicole, Partner, signed the petition.
Judge Mindy A. Mora oversees the case.
KELLEY KAPLAN & ELLER, PLLC serve as the Debtor's legal counsel.
DEL MONTE: S&P Downgrades ICR to 'CCC-' on Weak Liquidity
---------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
Del Monte Foods Inc. to 'CCC-' from 'CCC+' and removed all of the
company's ratings from CreditWatch, where it placed them with
negative implications on May 2, 2024.
S&P said, "We also lowered our issue-level rating on its $725
million first-lien term loan due 2029 to 'CCC-' from 'CCC+'. The
recovery rating remains '4', reflecting our expectation of average
(30%-50%; rounded estimate: 30%) recovery in the event of default.
"The negative outlook reflects the probability that we could lower
our ratings over the next six months if the company is unable to
secure liquidity to fund its pack season, restructures its debt, or
fails to meet its debt service obligations.
"The downgrade reflects our view that Del Monte's weak performance
and near-term liquidity needs has increased the risk of a payment
default or debt restructuring.
"The company's $750 million asset-based lending (ABL) facility had
an outstanding balance of $647 million at the end of the third
quarter of fiscal 2024. We do not believe Del Monte has enough
liquidity to fund its current pack season. We had previously
expected the company to secure external financing by the time its
pack season began in June. However, Del Monte has yet to announce
any developments on its financing.
"Historically, the company received support from its parent Del
Monte Pacific Ltd. (DMPL). However, DMPL's operating performance
has been weak and it has upcoming maturities to refinance.
Therefore, we believe it has limited ability to provide incremental
liquidity support to Del Monte."
Del Monte's weak operating performance and highly leveraged capital
structure leave little room for operational setbacks. Despite being
one of the largest producers of branded processed food in the U.S.,
Del Monte has suffered from lower volumes and high inventory
balances during the past few quarters. This, along with a highly
leveraged capital structure and high working capital requirements,
has left the company with little operational headroom to withstand
unforeseen events, including a slowdown in demand.
The negative outlook indicates S&P's view that the company's
liquidity will be under stress for the next few months and the
potential for a lower rating if the company defaults on its debt
obligations in the absence of additional liquidity.
S&P could lower the rating if:
-- The company is unable to secure external financing to fund
inventory purchases during its pack season; or
-- A potential financing transaction results in a restructuring or
unfavorable terms for existing lenders, whereby S&P views the
transaction as tantamount to a default.
S&P could raise the ratings if:
-- Del Monte's liquidity improves such that we believe the company
could service operations and its fixed-charges; and
-- S&P believes a debt restructuring or default is less likely.
DELCATH SYSTEMS: Registers $150MM Worth of Securities
-----------------------------------------------------
Delcath Systems, Inc. filed a prospectus on Form S-3 with the U.S.
Securities and Exchange Commission disclosing that the Company may
issue from time to time, in one or more series or classes, of up to
$150 million in aggregate principal amount of its common stock,
preferred stock, debt securities, warrants and/or units in one or
more offerings. The Company may offer these securities separately
or together in units, and may offer securities as may be issuable
upon conversion, redemption, repurchase, exchange or exercise of
any of the securities registered hereunder, including any
applicable anti-dilution provisions.
Delcath may sell these securities to or through underwriters and
also to other purchasers or through agents. The Company will set
forth the names of any underwriters or agents, and any fees,
conversions or discount arrangements, in an accompanying prospectus
supplement. And it may not sell any securities under the prospectus
without delivery of the applicable prospectus supplement.
A full-text copy of the prospectus is available at:
https://www.sec.gov/Archives/edgar/data/872912/000162828024030424/dcths-3june2024.htm
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 proprietary products, HEPZATO KIT (Hepzato
(melphalan) for Injection/Hepatic Delivery System) and CHEMOSAT
Hepatic Delivery System for Melphalan percutaneous hepatic
perfusion (PHP) are designed to administer high-dose chemotherapy
to the liver while controlling systemic exposure and associated
side effects during a PHP procedure.
As of March 31, 2024, the Company has $36.1 million in total
assets, $21.5 million in total liabilities, and a total
stockholders' equity of $14.6 million.
New York, NY-based Marcum LLP, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
26, 2024, 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.
DELCATH SYSTEMS: Registers 2MM Shares Under Equity Incentive Plan
-----------------------------------------------------------------
Delcath Systems, Inc. filed a registration statement on Form S-8
with the U.S. Securities and Exchange Commission to register
2,000,000 shares of common stock, par value $0.01 per share, of the
Company reserved for issuance under the Delcath Systems, Inc.
Omnibus 2020 Equity Incentive Plan, as amended. The Plan Amendment
was adopted by the Company's Board of Directors on March 19, 2024,
subject to stockholder approval, which was obtained at the Annual
Meeting of Stockholders held on May 23, 2024.
The Shares being registered are in addition to the shares of Common
Stock registered on Prior Registration Statements:
(1) the Company's Form S-8 filed with the Commission on
December 16, 2020 (file No. 333-251385),
(2) the Company's Form S-8 filed with the Commission on
January 5, 2022 (File No. 333-262022),
(3) the Company's Form S-8 filed with the Commission on May
25, 2022 (File No. 333-265202) and
(4) the Company's Form S-8 filed with the Commission on
December 15, 2023 (File No. 333- 276090)
A full-text copy of the Registration Statement is available at:
https://www.sec.gov/Archives/edgar/data/872912/000162828024030414/delcaths-8.htm
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 proprietary products, HEPZATO KIT (Hepzato
(melphalan) for Injection/Hepatic Delivery System) and CHEMOSAT
Hepatic Delivery System for Melphalan percutaneous hepatic
perfusion (PHP) are designed to administer high-dose chemotherapy
to the liver while controlling systemic exposure and associated
side effects during a PHP procedure.
As of March 31, 2024, the Company has $36.1 million in total
assets, $21.5 million in total liabilities, and a total
stockholders' equity of $14.6 million.
New York, NY-based Marcum LLP, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
26, 2024, 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.
DERMTECH INC: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of DermTech,
Inc. and DermTech Operations, Inc.
The committee members are:
1. Kilroy Realty, L.P.
Attn: Peter Dowley
12200 W. Olympic Blvd., Suite 200
Los Angeles, CA 90064
Email: pdowley@kilroyrealty.com
Phone: (310) 481-8400
2. Zymo Research Corporation
Attn: Krysta Khatchadourian
17062 Murphy Ave.
Irvine, CA 92614
Email: kkhatchadourian@zymoresearch.com
Phone: (626) 253-8980
3. Skin Surgery Medical Group, Inc.
Attn: Dr. Anne Truitt
5222 Balboa Ave, 6th Floor
San Diego, CA 92117
Email: annetruitt@aol.com
Phone: (858) 292-5101
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 DermTech
San Diego, Calif.-based DermTech, Inc. is a molecular diagnostic
company developing and marketing novel non-invasive genomics tests
to aid in the diagnosis and management of melanoma.
DermTech, Inc. and DermTech Operations filed Chapter 11 petitions
(Bankr. D. Del. Lead Case No. 24-11378) on June 18, 2024. At the
time of the filing, both Debtors reported $50 million to $100
million in both assets and liabilities.
Judge John T. Dorsey oversees the cases.
The Debtors tapped Wilson Sonsini Goodrich & Rosati, P.C. as
bankruptcy counsel; AlixPartners, LLC as financial advisor; and TD
Cowen as investment banker. Stretto, Inc. serves as the Debtors'
claims and noticing agent and administrative advisor.
DIFONZO HOLDINGS: Hires Lane Law Firm PLLC as Counsel
-----------------------------------------------------
Difonzo Holdings, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Texas to employ The Lane Law Firm PLLC
as counsel.
The firm will provide these services:
a. assist, advise, and represent the Debtor relative to the
administration of the chapter 11 case;
b. assist, advise and represent the Debtor in analyzing the
Debtor's assets and liabilities, investigating the extent and
validity of lien and claims, and participating in and reviewing any
proposed asset sales or dispositions;
c. attend meetings and negotiate with the representatives of
the secured creditors;
d. assist the Debtor in the preparation, analysis, and
negotiation of any plan of reorganization and disclosure statement
accompanying any plan of reorganization;
e. take all necessary action to protect and preserve the
interests of the Debtor;
f. appear, as appropriate, before this Court, the Appellate
Courts, and other Courts in which matters may be heard and to
protect the interests of the Debtor before said Courts and the
United States Trustee; and
g. perform all other necessary legal services in these cases.
The firm will be paid at these rates:
Robert C. Lane $595 per hour
Joshua Gordon $550 per hour
Associate attorneys $425 to $500 per hour
Paraprofessionals $190 to $250 per hour
The firm received from the Debtor a retainer of $40,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Robert C. Lane, Esq., a partner at The Lane Law Firm, PLLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Robert C. Lane, Esq.
Joshua D. Gordon, Esq.
The Lane Law Firm, PLLC
6200 Savoy, Suite 1150
Houston, TX 77036
Tel: (713) 595-8200
Fax: (713) 595-8201
Email: notifications@lanelaw.com
Joshua.gordon@lanelaw.com
About Difonzo Holdings, LLC
DiFonzo Holdings, LLC in Dallas, TX, filed its voluntary petition
for Chapter 11 protection (Bankr. N.D. Tex. Case No. 24-31800) on
June 20, 2024, listing $411,964 in assets and $7,285,274 in
liabilities. Robert DiFonzo as owner, signed the petition.
Judge Scott W. Everett oversees the case.
THE LANE LAW FIRM serve as the Debtor's legal counsel.
DIOCESE OF OGDENSBURG: Jeff Anderson Advises Sexual Abuse Claimants
-------------------------------------------------------------------
The law firm of Jeff Anderson & Associates, P.A. filed a verified
statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedure to disclose that in the Chapter 11 case of The Roman
Catholic Diocese of Ogdensburg, New York, the firm represents
Sexual Abuse Claimants.
Jeff Anderson & Associates individually represents each Sexual
Abuse Claimant ("Claimant"). The names and addresses of the
confidential Claimants are available to permitted parties who have
executed a confidentiality agreement and have access to the Abuse
Proofs of Claim.
Pursuant to individual fee agreements, Jeff Anderson & Associates
was individually retained by each Claimant to pursue claims for
damages against The Roman Catholic Diocese of Ogdensburg, New York
as a result of sexual abuse. This includes representing and acting
on behalf of each Claimant in the bankruptcy case.
Jeff Anderson & Associates' interest relative to each Claimant is
outlined in each retainer agreement executed by the Claimant and is
set forth in the exemplar retainer agreements. Each Claimant
maintains an individual economic interest against the Debtor, The
Roman Catholic Diocese of Ogdensburg, New York, that has been
disclosed in the Confidential Sexual Abuse Claim Supplement or will
be disclosed in the future
Jeff Anderson & Associates has offices at 366 Jackson Street, Suite
100, Saint Paul, Minnesota 55101 and 363 7th Avenue, l2th Floor,
New York, New York 10001. Attorneys Jeffrey R. Anderson, Michael G.
Finnegan, and Taylor Stippel Sloan, among others at Jeff Anderson &
Associates, are duly licensed to practice before Courts of the
State of New York and the United States District Court for the
Northern District of New York.
Attorneys for Certain Abuse Survivor Claimants:
JEFF ANDERSON & ASSOCIATES, P.A.
Jeffrey R. Anderson, Esq.
Michael G. Finnegan, Esq.
Taylor Stippel Sloan, Esq.
366 Jackson Street, Suite 100
St. Paul, MN 55101
Telephone: 65l-227-9990
Email: jeff@andersonadvocates.com
mike@andersonadvocates.com
taylor@andersonadvocates.com
About Roman Catholic Diocese of Ogdensburg
The Diocese of Ogdensburg is a Latin Church ecclesiastical
territory, or diocese, of the Catholic Church in the North Country
region of New York State in the United States. It is a suffragan
diocese in the ecclesiastical province of the Archdiocese of New
York. Its cathedral is St. Mary's in Ogdensburg.
The Diocese of Ogdensburg was founded on February 16, 1872. It
comprises the entirety of Clinton, Essex, Franklin, Jefferson,
Lewis and St. Lawrence counties and the northern portions of
Hamilton and Herkimer counties. The current bishop is Terry Ronald
LaValley.
On July 17, 2023, the Roman Catholic Diocese of Ogdensburg sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D.N.Y. Case No. 23-60507), with $10 million and $50 million in
both assets and liabilities. Mark Mashaw, diocesan fiscal officer,
signed the petition.
Judge Patrick G. Radel oversees the case.
Bond, Schoeneck & King, PLLC is the Diocese's bankruptcy counsel.
Stretto, Inc., is the claims agent and administrative advisor.
DIOCESE OF SAN DIEGO: U.S. Trustee Appoints Creditors' Committee
----------------------------------------------------------------
The U.S. Trustee for Region 15 appointed an official committee to
represent unsecured creditors in the Chapter 11 case of The Roman
Catholic Bishop of San Diego.
The committee members are:
1. Janet Ariza
Contact: Jeff Anderson & Associates
12011 San Vicente Blvd., Ste 700
Los Angeles, CA 90049
Phone: 310-357-2425
2. Diane Brown
Contact: Jeff Anderson & Associates
12011 San Vicente Blvd., Ste 700
Los Angeles, CA 90049
Phone: 310-357-2425
3. Armando Espinoza
Contact: Jeff Anderson & Associates
12011 San Vicente Blvd., Ste 700
Los Angeles, CA 90049
Phone: 310-357-2425
4. John Hoffmeister
Contact: Slater Slater Schulman LLP
8383 Wilshire Blvd., Ste 255
Beverly Hills, CA 90211
Phone: 310-341-2086
5. Ana Lopez-Rosende
Contact: The Zalkin Law Firm, P.C.
10590 W. Ocean Air Drive, Ste 125
San Diego, CA 92130
Phone: 858-259-3011
6. Thom Madro
Contact: DeMarco Law Firm
133 W. Lemon Ave.
Monrovia, CA 91016
Phone: 626-844-7700
7. Michael Sachs
Contact: The Zalkin Law Firm, P.C.
10590 W. Ocean Air Drive, Ste 125
San Diego, CA 92130
Phone: 858-259-3011
8. Larry Shindledecker
Contact: The Zalkin Law Firm, P.C.
10590 W. Ocean Air Drive, Ste 125
San Diego, CA 92130
Phone: 858-259-3011
9. Bryan Winters
Contact: Winer, Burritt & Scott LLP
1901 Harrison Street, Suite 1100
Oakland, CA 94612
Phone: 510-496-4116
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 Bishop of San Diego
The Roman Catholic Bishop of San Diego is a California nonprofit
religious corporation duly authorized and existing under the laws
of the State of California, for the purpose of administering the
temporal affairs of the Roman Catholic Diocese of San Diego.
The Roman Catholic Bishop of San Diego filed Chapter 11 petition
(Bankr. S.D. Calif. Case No. 24-02202) on June 17, 2024, with $100
million to $500 million in both assets and liabilities.
Gordon & Rees, LLP is the Debtor's legal counsel.
DIOCESE OF SYRACUSE: LaFave Wein Represents Sexual Abuse Claimants
------------------------------------------------------------------
The law firm of LaFave, Wein & Frament, PLLC filed a verified
statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedure to disclose that in the Chapter 11 case of the Roman
Catholic Diocese of Syracuse, New York, the firm represents Sexual
Abuse Claimants.
LaFave, Wein & Frament individually represents each Sexual Abuse
Claimant. The names and addresses of the confidential Claimants are
available to permitted parties who have executed a confidentiality
agreement and have access to the Sexual Abuse Claim Forms.
Pursuant to individual fee agreements, LaFave, Wein & Frament was
individually retained by each Claimant to pursue claims for damages
against The Roman Catholic Diocese of Syracuse, New York as a
result of sexual abuse. This includes representing and acting on
behalf of each Claimant in the bankruptcy case.
LaFave, Wein & Frament's interest relative to each Claimant is
outlined in each retainer agreement executed by the Claimant and is
set forth in the exemplar retainer agreements. Each Claimant
maintains an individual economic interest against the Debtor, The
Roman Catholic Diocese of Syracuse, New York, that has been
disclosed in the Confidential Sexual Abuse Claim Supplement or will
be disclosed in the future.
LaFave, Wein & Frament is located at 1 Wall Street, Albany, New
York 12205. Attorney Cynthia S. LaFave, among others at LaFave,
Wein & Frament, is duly licensed to practice before Courts of the
State of New York and in the United States District Court for the
Northern District of New York.
Attorney for Certain Abuse Survivor Claimants:
LAFAVE, WEIN & FRAMENT, PLLC
Cynthia S. Lafave, Esq.
1 Wall Street
Albany, NY 12205
Telephone: 518-869-9094
Email: clafave@lwflegal.com
About The Roman Catholic Diocese of Syracuse
The Roman Catholic Diocese of Syracuse, New York
--http://www.syracusediocese.org/-- through its administrative
offices (a) provides operational support to the Catholic parishes,
schools and certain other Catholic entities that operate within the
territory of the Diocese in support of their shared charitable,
humanitarian and religious missions; (b) conducts school operations
by managing tuition and scholarship payments, employee payroll, and
other school-related operating expenses for separately incorporated
Diocesan schools, as well as providing parish schools with
financial, operational and educational support; and (c) provides
comprehensive risk management services to the OCEs through the
Diocese's insurance program.
The Roman Catholic Diocese of Syracuse, New York filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bank. N.D.N.Y. Case No. 20-30663) on June 19, 2020. Stephen
A. Breen, chief financial officer, signed the petition. At the time
of filing, the Debtor estimated $10 million to $50 million in
assets and $50 million to $100 million in liabilities.
Judge Margaret M. Cangilos-Ruiz oversees the case.
Bond, Schoeneck and King, PLLC, serves as the Debtor's bankruptcy
counsel. The Debtor also tapped Mullen Coughlin LLC as special
counsel, Arete Advisors LLC as cybersecurity consultant, and
Moxfive LLC as technical advisor. Stretto is the claims agent and
administrative advisor.
The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Debtor's bankruptcy case. The committee
tapped Stinson, LLP, Saunders Kahler, LLP and Berkeley Research
Group, LLC, as its bankruptcy counsel, local counsel and financial
advisor, respectively.
DIVERSIFIED MASONRY: Hires Couse & Associates as Accountant
-----------------------------------------------------------
Diversified Masonry, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Colorado to hire Couse & Associates,
Inc., as accountant.
The firm will assist the Debtor in its tax preparation duties and
reporting requirements.
The accountant will charge $325 per hour for all services.
Couse & Associates is a "disinterested person" as that term is
defined in 11 U.S.C. Sec. 101(14). according to court filings.
The firm can be reached through:
Michelle Couse, CPA
Couse & Associates, Inc.
6565 S Dayton St # 3700
Greenwood Village, CO 80111
Telephone: (303) 850-7300
Facsimile: (303) 850-7311
About Diversified Masonry, LLC
The Debtor manufactures commercial and residential stone, stucco,
brick and block for national builders, local municipalities and
residential clients.
Diversified Masonry, LLC in Denver, CO, filed its voluntary
petition for Chapter 11 protection (Bankr. D. Colo. Case No.
24-11578) on April 3, 2024, listing $1,983,868 in assets and
$2,685,778 in liabilities. Dev Mahanti as manager/member, signed
the petition.
Judge Thomas B. Mcnamara oversees the case.
Allen Vellone Wolf Helfrich & Factor P.C. serve as the Debtor's
legal counsel.
DLD3 CARTS: Seeks to Hire Osborn Maledon as Bankruptcy Counsel
--------------------------------------------------------------
DLD3 Carts LLC seeks approval from the U.S. Bankruptcy Court for
the District of Arizona to hire Osborn Maledon, P.A. as its
counsel.
The Debtor requires legal counsel to:
(a) give advice regarding the rights, powers and duties of the
Debtor in this Chapter 11 case;
(b) assist the Debtor in the preparation of statements and
schedules and any amendments;
(c) assist the Debtor in the formulation, preparation and
prosecution of a plan of reorganization;
(d) assist the Debtor with regard to litigation and other
matters related to the administration and conduct of its Chapter 11
case;
(e) assist and advise the Debtor in discussions with creditors
relating to the administration of this case;
(f) assist the Debtor in reviewing claims asserted against it
and in negotiating with claimants asserting such claims;
(g) assist the Debtor in examining and investigating potential
preferences, fraudulent conveyances, and other causes of action;
(h) represent the Debtor at all hearings and other
proceedings;
(i) review and analyze legal papers;
(j) advise the Debtor concerning, and prepare on its behalf,
all legal documents filed in the case; and
(k) perform such other legal services as may be required or
appropriate.
The hourly rates of the firm's counsel and staff are as follows:
Attorneys $310 to $910
Paralegals $155 to $275
In addition, the firm will seek reimbursement for expenses
incurred.
Christopher Simpson, Esq., an attorney at Osborn Maledon, disclosed
in a court filing that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Warren J. Stapleton, Esq.
OSBORN MALEDON, PA
2929 North Central Avenue, 20th floor
Phoenix, AZ 85012
Telephone: (602) 640-9000
Email: wstapleton@omlaw.com
About DLD3 Carts LLC
DLD3 Carts LLC is in the business of new and pre-owned golf carts
sales and service.
DLD3 Carts LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No.
24-04998) on June 21, 2024, listing $1,534,708 in assets and
$818,246 in liabilities. The petition was signed by Donald R.
Cooley, III as manager-member.
Judge Paul Sala presides over the case.
Warren J. Stapleton, Esq. at OSBORN MALEDON, P.A. represents the
Debtor as counsel.
DP AUTO SALES: Hires Smeberg Law Firm PLLC as Legal Counsel
-----------------------------------------------------------
DP Auto Sales, Ltd d/b/a Byrider seeks approval from the U.S.
Bankruptcy Court for the Western District of Texas to employ The
Smeberg Law Firm, PLLC as legal counsel.
The firm's services include:
(a) advise the Debtor with respect to the Chapter 11 case;
(b) advise the Debtor of its powers and duties and management
of its property; and
(c) perform all legal services that may be necessary herein.
The hourly rates of the firm's counsel and staff are as follows:
Ronald J. Smeberg, Esq. $450
Other Attorneys with six or more years of experience $450
Associate Attorneys with ten or more years of experience $375
Associate Attorneys $300
Accounting Professionals $250
Legal Assistants/Paralegals $175
In addition, the firm will seek reimbursement for expenses
incurred.
Ronald Smeberg, Esq., an attorney at The Smeberg Law Firm,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Ronald J. Smeberg, Esq.
The Smeberg Law Firm, PLLC
4 Imperial Oaks
San Antonio, TX 78248
Tel: (210) 695-6684
Fax: (210) 598-7357
Email: ron@smeberg.com
About DP Auto Sales, Ltd d/b/a Byrider
The Debtor is an automobile dealer in San Antonio, Texas.
DP Auto Sales, Ltd in San Antonio, TX, filed its voluntary petition
for Chapter 11 protection (Bankr. W.D. Tex. Case No. 24-51135) on
June 20, 2024, listing as much as $1 million to $10 million in both
assets and liabilities. Jody Anderson as president, signed the
petition.
Judge Craig A Gargotta oversees the case.
THE SMEBERG LAW FIRM serve as the Debtor's legal counsel.
DYNATA LLC: Court Confirms Chapter 11 Plan, Cuts Debt by Nearly 40%
-------------------------------------------------------------------
Dynata, LLC, the most trusted source for reliable, accurate
first-party data -- announced on July 2 that the U.S. Bankruptcy
Court for the District of Delaware has confirmed the Company's
Financial Restructuring Plan. The confirmation hearing comes
approximately five weeks after the Company's prepackaged Chapter 11
filing.
Mike Petrullo, Chief Executive Officer of Dynata said, "I am
delighted that we have achieved this significant milestone, marking
another stride towards advancing our business transformation. I
deeply appreciate the steadfast support of our lenders which has
enabled us to achieve this outcome on an expedited basis. I am
thankful to the Dynata team who have committed themselves to
building a best-in-class brand and to all of our loyal clients.
Looking ahead, we are eager to commence the second half of the year
with a strengthened balance sheet, and an unrelenting focus on
delivering the highest-quality, reliable, accurate consumer
insights data and services for our clients."
Dynata is renowned for having an unmatched commitment to data
quality. In May, Dynata achieved further recognition by winning the
overall 2024 I-COM Global Data Creativity Awards, securing first
place in the Data Quality category.
Under the approved plan, Dynata reduced almost 40% of its total
debt from approximately $1.3 billion to $780 million in exchange
for the first and second lien holders to own 100% of the equity in
the newly reorganized Company.
Willkie Farr & Gallagher LLP is serving as Dynata's legal advisor
in connection with the restructuring. Alvarez & Marsal North
America, LLC serves as its restructuring advisor and Houlihan
Lokey, Inc. serves as its investment banker.
Gibson, Dunn & Crutcher LLP is serving as lead counsel and PJT
Partners LP is serving as investment banker to an ad hoc group of
controlling first lien lenders in connection with the
restructuring.
Vinson & Elkins LLP is serving as lead counsel and Lazard is
serving as investment banker to an ad hoc group of controlling
second lien lenders in connection with the restructuring.
About Dynata, LLC
Dynata, LLC and their non-debtor affiliates are a global data
platform company in the business of providing business-to business
insights to market research firms, brands, media and advertising
agencies, and investment firms, amongst others.
Dynata, LLC and 18 of its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 24-11057) on May 22, 2024. In the petition signed by Steven
Macri as chief financial Officer, the company disclosed up to $1
billion to $10 billion in both assets and liabilities.
Young Conaway Stargatt & Taylor, LLP and Willkie Farr & Gallagher
LLP represent the Debtors as counsel. Alvarez & Marsal North
America, LLC represents the Debtor as restructuring advisor.
Houlihan Lokey, Inc. represents the Debtor as investment banker.
Kroll Restructuring Administration LLC represents the Debtor as
notice and claims agent.
EARLY YEARS: Hires Sapientia Law Group as Legal Counsel
-------------------------------------------------------
Early Years Academy, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Minnesota to employ Sapientia Law Group
as counsel.
The firm will represent the Debtor in all legal matters arising
during the control of Debtor's assets, the determination of claims,
negotiations with creditors and third parties, the preparation and
formation of a plan to be presented to the creditors, and such
other services as are necessary for the exercise of any and all
rights available to the Debtors.
The firm will be paid at the rate of $550.
The firm received from the Debtor a retainer in the amount of
$10,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Kenneth C. Edstrom, Esq., a partner at Sapientia Law Group,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Kenneth C. Edstrom, Esq.
Sapientia Law Group
120 South Sixth Street, Suite 100,
Minneapolis, MN 55402
Tel: (612) 756-7108
Email: kene@sapientialw.com
About Early Years Academy, Inc.
Early Years Academy, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 24-41601) on June
19, 2024, with $50,001 to $100,000 in assets and $500,001 to $1
million in liabilities.
Kenneth C. Edstrom, Esq., at Sapientia Law Group represents the
Debtor as legal counsel.
EL DORADO GAS: Trustee Seeks to Sell Personal Property by Auction
-----------------------------------------------------------------
Dawn Ragan, the Chapter 11 trustee for El Dorado Gas & Oil, Inc.,
asked the U.S. Bankruptcy Court for the Southern District of
Mississippi for approval to sell assets of the company and World
Aircraft, Inc. by auction.
The assets up for sale include equipment, machinery and other
personal property used to operate the companies' businesses in
Jackson, Miss., Collierville, Tenn., and Ontario, Canada.
The trustee, through the brokerage firm Tiger Capital Group, LLC,
will conduct an auction virtually on July 9, at 10:00 a.m. (Central
Time).
The "highest or best bids" for the personal property will be
selected at the conclusion of the auction by the trustee in
consultation with the companies' lenders.
The property will be sold "free and clear" of liens, claims and
interests. Further, any claims or liens will attach to the proceeds
of the sales, according to R. Michael Bolen, Esq., one of the
bankruptcy trustee's attorneys.
First Service Bank and GrayStreet Partners have consented to the
sale of the property. Both lenders have secured interests in
substantially all the companies' personal property.
Objections to the proposed sale are due by July 8.
About El Dorado Gas & Oil and
Hugoton Operating Company
Hugoton Operating Company, Inc. filed a voluntary Chapter 11
petition (Bankr. S.D. Miss. Case No. 23-51139) on Aug. 14, 2023. El
Dorado Gas & Oil, Inc., a company in Gulfport, Miss., filed Chapter
11 petition (Bankr. S.D. Miss. Case No. 23-51715) on Dec. 22, 2023,
with $500 million to $1 billion in assets and $50 million to $100
million in liabilities. Thomas L. Swarek, president, signed the
petition.
On Feb. 22, 2024, Bluestone Natural Resources II - South Texas, LLC
and World Aircraft, Inc. filed separate Chapter 11 petitions
(Bankr. S.D. Miss. Case Nos. 24-50223 and 24-50224).
On Jan. 12, 2024, the Court entered an order directing the
appointment of a Chapter 11 trustee for Hugoton. On Jan. 22, 2024,
the Court approved Dawn Ragan as the Chapter 11 trustee for
Hugoton.
On Jan. 31, 2024, the Court ordered the appointment of a Chapter 11
trustee for El Dorado. On Feb. 2, 2024, the Court approved Ms.
Ragan as Chapter 11 trustee for El Dorado.
No official committee of unsecured creditors has been established
in any of the Debtor cases.
Hugoton and El Dorado are both Arkansas corporations engaged in the
exploration, production, and development of crude oil and natural
gas properties. El Dorado is a lease holder and operator of oil and
gas wells covering about 4,000 net acres in South Texas. El Dorado
also owns a substantial amount of oil field equipment and owns real
estate in multiple locations and states. Hugoton also owns oil and
gas interests and operates wells in South Texas.
Hugoton is 100% owned by El Dorado and El Dorado is 100% owned by
Thomas Swarek. Bluestone is 100% owned by Hugoton. Bluestone owns
oil and gas interests operated by the EDGO Debtors. World Aircraft
is 100% owned by EDGO. World Aircraft owns various aircraft and
equipment assets.
Judge Katharine M Samson oversees the cases.
Patrick Sheehan, Esq., at Sheehan & Ramsey, PLLC, is Debtors
Bluestone Natural Resources II-South Texas, LLC and World Aircraft,
Inc.
R. Michael Bolen, Esq., at Hood & Bolen, PLLC; and Nancy Ribaudo,
Esq., Katherine Hopkins, Esq., and Joseph Austin, Esq., at Kelly
Hart & Hallman LLP, serve as counsel to Dawn Ragan, Chapter 11
Trustee for El Dorado Gas & Oil, Inc. and Hugoton Operating
Company, Inc.
ELLIE LANE: David Wood of Marshack Named Subchapter V Trustee
-------------------------------------------------------------
The Acting U.S. Trustee for Region 15 appointed David Wood of
Marshack Hays Wood as Subchapter V trustee for Ellie Lane Capital,
LLC.
Mr. Wood will be paid an hourly fee of $610 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Wood declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
David Wood
Marshack Hays Wood
870 Roosevelt
Irvine, CA 92620
Phone: (949) 333-7777
Email: DWood@marshackhays.com
About Ellie Lane Capital
Ellie Lane Capital, LLC, doing business as Your SolarMate, offers
solar PV or energy storage system installers and contractors
services that simplify the interconnection and rebate processes.
The Debtor acts as representative/applicant in order to complete
all applications required by the utility companies in order to
quickly receive permission to operate (PTO) letters and rebate
approvals.
Ellie Lane Capital sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Calif. Case No. 24-02207) on June 17,
2024, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Katherine Dextraze, president and partner
representative, signed the petition.
Vanessa M. Haberbush, Esq.. at Haberbush, LLP represents the Debtor
as legal counsel.
ENSERVCO CORP: Files Preliminary S-1 for Sale of Up to 35MM Shares
------------------------------------------------------------------
Enservco Corp. filed a Preliminary Prospectus on Form S-1 with the
U.S. Securities and Exchange Commission in relation to the offer
and sale from time to time by Keystone Capital Partners, LLC
("Keystone" or the "Selling Stockholder") of up to 35,000,000
shares of Common Stock, par value $0.005 per share that have been
or may be issued by Enservco to Keystone pursuant to that certain
Common Stock Purchase Agreement, dated as of June 11, 2024, by and
between the CompNY and Keystone, establishing an equity line of
credit (the "Keystone Committed Equity Financing"). Such shares of
Enservco's Common Stock include (a) up to 33,583,333 shares of
Common Stock that it may elect, in its sole discretion, to issue
and sell to Keystone, from time to time from and after the
Commencement Date under the Purchase Agreement, and subject to
applicable stock exchange rules and (b) up to 1,416,667 shares of
Common Stock that have been or will be issued to Keystone as
consideration for it entering into the Purchase Agreement.
The Selling Securityholder may offer, sell or distribute all or a
portion of the shares of the Common Stock acquired under their
respective Purchase Agreement and hereby registered publicly or
through private transactions at prevailing market prices or at
negotiated prices. Enservco will bear all costs, expenses and fees
in connection with the registration of the shares of our Common
Stock, including with regard to compliance with state securities or
"blue sky" laws. The timing and amount of any sales are within the
sole discretion of the Selling Securityholder. The Selling
Securityholder is an underwriter under the Securities Act with
respect to the resale of shares held by the Selling Securityholder.
Although Keystone is obligated to purchase shares of Enservco's
Common Stock under the terms and subject to the conditions and
limitations of the Purchase Agreement to the extent it chooses to
sell such shares of our Common Stock to it (subject to certain
conditions), there can be no assurances that it will choose to sell
any shares of its Common Stock to Keystone, or that Keystone will
sell any or all of the shares of our Common Stock, if any,
purchased under the Purchase Agreement pursuant to the prospectus.
The Selling Securityholder will bear all commissions and discounts,
if any, attributable to its sale of shares of the Common Stock.
Enservco said, "We are not selling any securities under this
prospectus and will not receive any of the proceeds from the sale
of the shares of our Common Stock by the Selling Securityholder. We
may receive up to $10.0 million in aggregate gross proceeds from
Keystone under the Purchase Agreement in connection with sales of
the shares of our Common Stock pursuant to the Purchase Agreement
after the date of this prospectus. However, the actual proceeds
from Keystone may be less than this amount depending on the number
of shares of our Common Stock sold and the price at which the
shares of our Common Stock are sold."
A full-text copy of the Preliminary Prospectus is available at:
https://tinyurl.com/yafw6zrc
About Enservco
Enservco -- www.enservco.com -- provides a range of oilfield
services through its various operating subsidiaries, including hot
oiling, acidizing, frac water heating, and related services. The
Company has a broad geographic footprint covering major domestic
oil and gas basins across the United States
Houston, Texas-based Pannell Kerr Forster of Texas, P.C., the
Company's auditor since 2022, issued a "going concern"
qualification in its report dated March 29, 2024, citing that the
Company has a significant working capital deficiency, has recurring
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.
ETG FIRE: Hires Brownstein Hyatt Farber as Legal Counsel
--------------------------------------------------------
ETG Fire, LLC and its affiliate seek approval from the U.S.
Bankruptcy Court for the District of Colorado to employ Brownstein
Hyatt Farber Schreck, LLP to serve as legal counsel in its Chapter
11 case.
The firm's services include:
a. assisting in the production of the Debtor's schedules and
statement of financial affairs and other pleadings necessary to
comply with the Bankruptcy Code;
b. assisting in the preparation of the Debtor's plan of
reorganization and disclosure statement;
c. preparing legal papers;
d. representing the Debtor in adversary proceedings and
contested matters related to its bankruptcy case;
e. providing legal advice with respect to the Debtor's rights,
powers, obligations and duties in the continuing operation of its
business and the administration of the estate;
f. providing other necessary legal services to the Debtor.
The firm will be paid at these rates:
Michael J. Pankow $860 per hour
Amalia Sax-Bolder $575 per hour
Irene M. Blumberg $495 per hour
AJ Ciabattoni, Paralegal $245 per hour
Brownstein was paid a retainer of $80,000.
As disclosed in court filings, Brownstein is a "disinterested
person" within the meaning of Bankruptcy Code Section 101(14).
The firm can be reached through:
Michael J. Pankow, Esq.
Amalia Y. Sax-Bolder, Esq.
Brownstein Hyatt Farber Schreck, LLP
675 15th Street, Suite 2900
Denver, CO 80202
Tel: (303) 223-1100
Fax: (303) 223-1111
Email: mpankow@bhfs.com
asax-bolder@bhfs.com
About ETG Fire, LLC
ETG Fire is a single source fire protection systems and services
company. The Company designs, installs, tests, inspects, monitors,
and maintains special hazard fire protection systems and complex
fire alarm systems for customers nationally from its offices in
Denver, CO, Seattle, WA, Pasadena, CA, Cheyenne, WY, Dallas, TX,
and Tulsa, OK.
ETG Fire, LLC in Denver, CO, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Colo. Case No. 24-13446) on June
20, 2024, listing as much as $1 million to $10 million in both
assets and liabilities. Torrence Henry as president & CEO, ETG
Fire, LLC, signed the petition.
BROWNSTEIN HYATT FARBER SCHRECK, LLP serve as the Debtor's legal
counsel.
EVERLAST EPOXY: Glen Watson Named Subchapter V Trustee
------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Glen Watson, Esq.,
at Watson Law Group, PLLC as Subchapter V trustee for Everlast
Epoxy Systems, Inc.
Mr. Watson will be paid an hourly fee of $425 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Watson declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Glen Watson, Esq.,
Watson Law Group, PLLC
1114 17th Av. S., Suite 201
P.O. Box 121950
Nashville, TN 37212
Telephone: (615) 823-4680
Email: glen@watsonpllc.com
About Everlast Epoxy Systems
Everlast Epoxy Systems, Inc. is a commercial flooring manufacturer
in Columbia, Tenn.
The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Tenn. Case No. 24-02261) on June 20,
2024, with $155,871 in assets and $1,865,315 in liabilities. David
Joseph Linton, chief executive officer, signed the petition.
Judge Charles M. Walker presides over the case.
Robert J. Gonzales, Esq., at EmergeLaw, PLC represents the Debtor
as bankruptcy counsel.
FISKER INC: Hires Kurtzman Carson as Claims and Noticing Agent
--------------------------------------------------------------
Fisker Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Kurtzman
Carson Consultants, LLC dba Verita Global as claims and noticing
agent.
The firm will oversee the distribution of notices and will assist
in the maintenance, processing and docketing of proofs of claim
filed in the Debtors' Chapter 11 cases.
The firm will be paid at these rates:
Technology/Programming Consultant $28 - $76 per hour
Consultant/Senior Consultant/Director $52 - $175 per hour
Securities/Solicitation Consultant $175 per hour
Securities Director/Solicitation Lead $185 per hour
Prior to the petition date, the Debtor provided the firm a retainer
in the amount of $75,000.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Evan Gershbein, executive vice president of Kurtzman's Corporate
Restructuring Services, disclosed in a court filing that his firm
is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.
The firm can be reached through:
Evan Gershbein
Kurtzman Carson Consultants, LLC
222 N. Pacific Coast Highway, 3rd Floor
El Segundo, CA 90245
Tel: (310) 823-9000
Fax: (310) 823-9133
Email: egershbein@kccllc.com
About Fisker Inc.
Fisker Inc., and its affiliates, in La Palma CA, filed its
voluntary petition for Chapter 11 protection (Bankr. D. Del. Lead
Case No. 24-11390) on June 17, 2024, listing $604,000,000 in assets
and $1,200,000,000 in liabilities. John C. DiDonato as chief
restructuring officer, signed the petition.
Judge Thomas M. Horan oversees the case.
MORRIS, NICHOLS, ARSHT & TUNNELL LLP serve as the Debtor's legal
counsel.
FLANNERY LLC: Beverly Brister Named Subchapter V Trustee
--------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed Beverly Brister,
Esq., a practicing attorney in Benton, Ark., as Subchapter V
trustee for Flannery, LLC.
Ms. Brister will be paid an hourly fee of $300 for her services as
Subchapter V trustee. Should travel be required outside of Saline
or Pulaski Counties, the Subchapter V trustee will seek a
compensation rate of $100 per hour for actual travel time
incurred.
Ms. Brister declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Beverly I. Brister, Esq.
Attorney at Law
212 W. Sevier
Benton, AR 72015
Phone: 501-778-2100
Email: bibristerlaw@gmail.com
About Flannery LLC
Flannery, LLC filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. E.D. Ark. Case No. 24-12004) on Jan. 3,
2024, with $50,001 to $100,000 in assets and $100,001 to $500,000
in liabilities.
Judge Richard D. Taylor oversees the case.
Carl W. Hopkins, Esq., represents the Debtor as legal counsel.
FOUNDATION FITNESS: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------------
The U.S. Trustee for Region 13 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Foundation
Fitness, LLC and Stages Cycling, LLC.
The committee members are:
1. Johnson Health Tech North America, Inc.
dba Matrix FitnessS
Attention: Christie Draves
1600 Landmark Drive
Cottage Grove, WI 53527
Phone: 608-400-6817
Email: christie.draves@johnsonfit.com
2. Digital Concepts
Attention: Jack Greenwood
P.O. Box 874328
Kansas City, MO 64187
Phone: 314-447-3238
Email: jgreenwood@digitalcpt.com
3. Shimano North America Holding, Inc.
Attention: Linda Johnson
1 Holland
Irvine, CA 92618
Phone: 949-610-2851 or 949-951-5003
Email: ljohnson@shimano.com
4. Look Cycle International S.A.S.
Attention: Sebastien Coue
27 Rue du DR Leveille
CS 90013 58208 Nevers CEDEX France
Phone: 941-773-8515
Email: scoue@lookcycle.fr
5. Life Time
Attention: Kimo Seymour
2902 Corporate Place
Chanhassen, MN 55317
Phone: 602-499-0721
Email: kseymour@lt.life
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 Foundation Fitness
Founded in 2009, Foundation Fitness, LLC creates custom commercial
gyms and fitness centers. It offers 2D and 3D design layout,
equipment sales, installation and support.
Foundation Fitness and its affiliate Stages Cycling, LLC filed
Chapter 11 petitions (Bankr. D. Neb. Lead Case No. 24-80513) on
June 22, 2024.
At the time of the filing, Foundation Fitness reported $10 million
to $50 million in both assets and liabilities while Stages Cycling
reported $1 million to $10 million in assets and $10 million to $50
million in liabilities.
Judge Thomas L. Saladino oversees the cases.
Patrick Patino, Esq., at Patino Law Office, LLC is the Debtors'
bankruptcy counsel.
FRANKLIN INTERNATIONAL: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Franklin International Partners
39962 Hudson Court
Temecula, CA 92591
Business Description: The Debtor has equitable interests in six
properties located in California and Texas.
The current value of the Debtor's interests
in the Properties amounted $11.71 million
in the aggregate.
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
Central District of California
Case No.: 24-13808
Judge: Hon. Wayne E Johnson
Debtor's Counsel: Marc A. Duxbury, Esqw.
COUNTY LAW CENTER
1901 Camino Vida Roble, Suite 114
Carlsbad, CA 92008
Tel: (760) 438-5291
Fax: (760) 438-4298
Email: info@countylawcenter.com
Total Assets: $11,705,000
Total Liabilities: $3,967,500
The petition was signed by Leon Lamarr Franklin, managing partner.
The Debtor stated it has no unsecured creditors.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/N4PXRYI/Franklin_International_Partners__cacbke-24-13808__0001.0.pdf?mcid=tGE4TAMA
GATEWAY AT WYNWOOD: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:
Debtor Case No.
------ --------
The Gateway at Wynwood LLC 24-72586
11 Sunrise Highway, Suite 305
Valley Stream, NY 11580
2830 Wynwood Properties LLC 24-42783
11 Sunrise Plaza, Suite 305
Valley Stream, NY 11580
Business Description: The Gateway Debtor owns a mixed-use office
development project in Miami, FL known as
the Gateway at Wynwood located at 2916 North
Miami Avenue, Florida. The Project is fully
built and completed with a certificate of
occupancy in place and consists of
approximately 450,000 total square feet,
including 195,000 square feet of Class A
commercial office space, plus associated
retail space and multiple floors of covered
parking.
The 2830 Debtor owns an adjoining property
at 2830 North Miami Avenue consisting of an
11,000 square foot lot partially occupied
by Chase Bank as retail tenant. The balance
of the parcel is vacant.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Eastern District of New York
Judge: Hon. Louis A Scarcella (24-72586)
Hon. Jil Mazer-Marino (24-42783)
Debtors' Counsel: Kevin Nash, Esq.
GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
125 Park Ave
New York, NY 10017-5690
Email: knash@gwfglaw.com
Gateway at Wynwood's
Estimated Assets: $100 million to $500 million
Gateway at Wynwood's
Estimated Liabilities: $100 million to $500 million
2830 Wynwood's
Estimated Assets: $1 million to $10 million
2830 Wynwood's
Estimated Liabilities: $100 million to $500 million
The petitions were signed by David Goldwasser, chief restructuring
officer.
The Debtors failed to include in the petitions lists of their 20
largest unsecured creditors.
Full-text copies of the petitions are available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/KPOCKHI/2830_Wynwood_Properties_LLC__nyebke-24-42783__0001.0.pdf?mcid=tGE4TAMA
https://www.pacermonitor.com/view/KV7QDHQ/The_Gateway_at_Wynwood_LLC__nyebke-24-72586__0001.0.pdf?mcid=tGE4TAMA
GOOD NATURED: Chapter 15 Case Summary
-------------------------------------
Lead Debtor: good natured Products Inc
814-470 Granville Street
Vancouver, BC V6C 1V5
Canada
Business Description: Manufactured locally in the US and Canada,
good natured engineers and distributes a
diverse range of bio-based products across
various sectors, including grocery,
restaurant, electronics, automotive, and
pharmaceutical via both wholesale and direct
channels. The Company is dedicated to
providing an industry-leading customer
experience in order to encourage the
transition to renewable alternatives.
good natured showcases over 90 plant-based
packaging designs and an extensive portfolio
of more than 400 products and services.
Foreign Proceeding: No. S-244212; Supreme Court of British
Columbia
Chapter 15 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Northern District of Illinois
Sixteen affiliates that concurrently filed voluntary petitions for
relief under Chapter 15 of the Bankruptcy Code:
Chapter 15 Debtor Case No.
----------------- --------
good natured Products Inc 24-80891
Good natured Products (Illinois) LLC 24-80890
good natured Real Estate Holdings (Ontario) Inc 24-80892
1306187 B.C. Ltd 24-80893
good natured Products (CAD) Inc 24-80894
good natured Products Packaging Canada GP Inc 24-80895
good natured Products Packaging Brampton GP Inc 24-80896
good natured Products Industrial Canada GP Inc 24-80897
good natured Products Packaging Canada LP 24-80898
good natured Products Packaging Brampton LP 24-80899
good natured Products Industrial Canada LP 24-80900
good natured Products (US) Inc 24-80901
good natured Products Real Estate U.S. LLC 24-80902
good natured Products Packaging US LLC 24-80903
good natured Products Direct LLC 24-80904
good natured Products (Texas) LLC 24-80905
Foreign Representative: good natured Products Inc.
Paul Antoniadis
Title: Corporate Secretary
814-470 Granville Street
Vancouver, BC V6C 1V5
Canada
Foreign Representative's
Counsel: Thomas B. Fullerton, Esq.
AKERMAN LLP
71 South Wacker Drive, 47th Floor
Chicago, Ill, 60606
Tel: (312) 634-5726
Email: thomas.fullerton@akerman.com
Estimated Assets: Unknown
Estimated Debt: Unknown
A full-text copy of good natured Products Inc.'s Chapter 15
petition is available for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/ZJGFBJQ/good_natured_Products_Inc__ilnbke-24-80891__0001.0.pdf?mcid=tGE4TAMA
GROM SOCIAL: Ionic Ventures, 3 Others Disclose 1.8% Stake
---------------------------------------------------------
Ionic Ventures, LLC disclosed in Schedule 13G/A Report filed with
the U.S. Securities and Exchange Commission that as of June 28,
2024, the firm and its affiliated entities -- Ionic Management,
LLC, Brendan O'Neil, and Keith Coulston -- owned 166,666 shares of
Grom Social Enterprises, Inc.'s Common Stock, representing 1.8% of
the shares outstanding. This constitutes an exit filing for the
entities.
Such shares and percentage are based on 9,021,617 outstanding
shares of Common Stock, as disclosed in the Quarterly Report on
Form 10-Q, filed with the SEC on May 20, 2024, and up to 166,666
shares of Common Stock issuable upon full exercise of the Company's
Series B warrants held by Ionic.
Ionic is the beneficial owner of 166,666 shares of Common Stock.
Ionic has the power to dispose of and the power to vote the Shares
beneficially owned by it, which power may be exercised by its
manager, Ionic Management. Each of the managers of Ionic
Management, Mr. O'Neil and Mr. Coulston, has shared power to vote
and/or dispose of the Shares beneficially owned by Ionic and Ionic
Management. Neither Mr. O'Neil nor Mr. Coulston directly owns the
Shares. By reason of the provisions of Rule 13d-3 of the Act, each
of Mr. O'Neil and Mr. Coulston may be deemed to beneficially own
the Shares which are beneficially owned by each of Ionic and Ionic
Management, and Ionic Management may be deemed to beneficially own
the Shares which are beneficially owned by Ionic.
A full-text copy of Ionic Ventures' SEC Report is available at:
https://tinyurl.com/mrdyn72x
About Grom Social Enterprises
Boca Raton, Fla.-based Grom Social Enterprises, Inc. --
http://www.gromsocial.com/-- is a media, technology and
entertainment company that focuses on (i) delivering content to
children under the age of 13 years in a safe secure platform that
is compliant with the Children's Online Privacy Protection Act
("COPPA") and can be monitored by parents or guardians, (ii)
creating, acquiring, and developing the commercial potential of
Kids & Family entertainment properties and associated business
opportunities, (iii) providing world class animation services, and
(iv) offering protective web filtering solutions to block unwanted
or inappropriate content.
Somerset, N.J.-based Rosenberg Rich Baker Berman, P.A., the
Company's auditor since 2022, issued a "going concern"
qualification in its report dated April 16, 2024, citing that the
Company's significant operating losses, working capital deficit and
negative cash flows from operations raise substantial doubt about
its ability to continue as a going concern.
GT GIST: Hires Jessica Homeyer as Bookkeeper
--------------------------------------------
GT Gist Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Missouri to employ Jessica
Homeyer as bookkeeper.
Ms. Homeyer will provide the Debtor with bookkeeping, and tax
preparation services.
Ms. Homeyer will be paid based upon its normal and usual hourly
billing rates, and will also be reimbursed for reasonable
out-of-pocket expenses incurred.
Ms. Homeyer disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached at:
Jessica Homeyer
1505 East Fifth Street
Washington, MO 63090
About GT Gist Properties, LLC
GT Gist Properties, LLC filed Chapter 11 petition (Bankr. E.D. Mo.
Case No. 24-42034) on June 10, 2024, with $1 million to $10 million
in assets and $500,000 to $1 million in liabilities. Garrett Gist,
member, signed the petition.
Frank R. Ledbetter, Esq., at Ledbetter Law Firm, LLC represents the
Debtor as bankruptcy counsel.
GT GIST: Hires Ledbetter Law Firm LLC as Counsel
------------------------------------------------
GT Gist Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Missouri to employ Ledbetter Law
Firm, LLC as counsel.
The firm's services include:
(a) analyzing the Debtor's financial condition and rendering
advice in determining whether to file a petition in bankruptcy;
(b) preparing and filing a Chapter 11 plan, disclosure
statement and other legal documents;
(c) representing the Debtor at the meeting of creditors and
court hearings;
(d) representing the Debtor in adversary proceedings and other
contested bankruptcy matters; and
(e) representing the Debtor at federal and state court
lawsuits and administrative proceedings related or ancillary to its
Chapter 11 proceeding.
The Debtor will employ the firm at the standard hourly rate of
$325. The firm received from the Debtor an advance fee in the
amount of $2,000.
Frank R. Ledbetter, Esq., a partner at Ledbetter Law Firm, LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Frank R. Ledbetter, Esq.
Ledbetter Law Firm, LLC
130 S. Bermiston Avenue, Suite 304
Clayton, MO 63105
Tel: (314) 602-1431
Fax: (314) 667-3804
Email: stlatty@gmail.com
About GT Gist Properties, LLC
GT Gist Properties, LLC filed Chapter 11 petition (Bankr. E.D. Mo.
Case No. 24-42034) on June 10, 2024, with $1 million to $10 million
in assets and $500,000 to $1 million in liabilities. Garrett Gist,
member, signed the petition.
Frank R. Ledbetter, Esq., at Ledbetter Law Firm, LLC represents the
Debtor as bankruptcy counsel.
HANEY INC: Seeks to Hire Goering & Goering as Bankruptcy Counsel
----------------------------------------------------------------
Haney Inc. seeks approval from the U.S. Bankruptcy Court for the
Southern District of Ohio to hire Goering & Goering, LLC as
attorney.
The firm will render these services:
(a) take all necessary actions to protect and preserve the
property of the bankruptcy estate;
(b) prepare on behalf of the Debtor all necessary motions,
applications, answers, orders, reports, and papers in connection
with the administration of the Estate;
(c) negotiate and prepare on behalf of the Debtor and the
Estate a plan of reorganization and all related documents; and
(d) perform all other necessary legal services in connection
with this Chapter 11, Subchapter V case.
The hourly rates of the firm's attorneys are as follows:
Robert A. Goering $600
Eric W. Goering $550
Alexis Mize $350
The firm has received pre-petition work fee of $28,202.50 and
$1,738 for the filing fee and a $35,059.50 retainer in
contemplation of its services on this case.
Eric Goering, Esq., an attorney at Goering & Goering, disclosed in
a court filing that the firm is a "disinterested person" as that
term is defined in section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Eric W. Goering, Esq.
Goering & Goering, LLC
220 West Third Street
Cincinnati, OH 45202
Telephone: (513) 621-0912
Email: eric@goering-law.com
About Haney Inc.
Haney is a consumer packaging micro-supply chain. The Company
handles all aspects of small-batch packaging projects, from
concepting and prototyping, to packing and fulfillment.
Haney Inc. filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Ohio Case No. 24-11405) on June
21, 2024, listing $1,965,433 in assets and $4,079,770 in
liabilities. The petition was signed by Matthew Haney as CEO.
Judge Beth A Buchanan presides over the case.
Eric W. Goering, Esq. at GOERING & GOERING represents the Debtor as
counsel.
HELLO NOSTRAND: Amends Plan; Confirmation Hearing Sept. 17
----------------------------------------------------------
Hello Nostrand LLC, submitted an Amended Disclosure Statement
describing Amended Chapter 11 Plan dated June 18, 2024.
For several years prior to bankruptcy, the Debtor's residential
building located at 21 East 29th St. and adjoining vacant lot
located at 1580 Nostrand Avenue, Brooklyn, NY (the "Property")
became subject to foreclosure proceedings in Kings County following
the Debtor's maturity default with respect to a series of
consolidated mortgage loans.
The Property is improved by a residential apartment building
containing at least 93 units located at 21 East 29th Street,
Brooklyn NY, plus an adjoining vacant lot [at 1580 Nostrand
Avenue]. The Property is believed to have a current value of
$60,000,000 with the opportunity for increased value once
operations are improved. The Senior Lender is the most likely buyer
at this juncture, but improvements in the market may attract a
third-party buyer to make an all-cash bid acceptable to the Senior
Lender.
Following a hearing on June 7, 2024, the Bankruptcy Court
authorized the public auction sale of the Property pursuant to
approved bid procedures. The Auction is currently scheduled for
September 5, 2024. The Debtor intends to seek approval of the
auction results in conjunction with confirmation of the Plan and
close soon thereafter so as to gain the benefit of the transfer tax
exemption under Section 1146(a) of the Bankruptcy Code.
The Amended Disclosure Statement does not alter the proposed
treatment for unsecured creditors and the equity holder:
* Class 2 consists of Allowed General Unsecured Claims
including all 31 Disputed and Undersecured Mechanic Lienors. The
Debtor cannot yet estimate the total allowed amount of the Class 2
claims because all of the claims have not been fully reconciled.
However, a review of the public record suggest that virtually all
of the mechanic's liens previously expired as a matter of law long
before the commencement of the Chapter 11 case. The mechanic's
liens filed against the Property total approximately $2,576,863,
subject to objection and reconciliation.
-- To the extent that residual Sale Proceeds become available
from the sale of the Property to a bona fide third-party (after
payment of Administrative Expenses, Priority Tax Claims, and the
allowed Class 1 Secured Claim of the Senior Lender), the holder of
allowed Class 2 Unsecured Claims shall be paid and receive a pro
rata dividend from the residual Sale Proceeds. More likely,
however, in the event of a credit bid by the Senior Lender without
receipt of an acceptable third-party offer, then allowed Class 2
Unsecured Claims shall be paid and receive a pro rata dividend
based upon distribution of the Creditor Reserve. The Class 2 Claims
of Allowed General Unsecured Creditors are impaired. This Class
will receive a distribution of 3.8% of their allowed claims.
* Class 3 consists of the Equity Interests in the Debtor held
by Hello Living Development Nostrand LLC. No payments shall be made
on account of the equity interests in the Debtor unless and until
all other secured, priority and unsecured claims have been paid in
full with applicable interest and the Debtor's Chapter 11 case has
been fully administered and closed.
The Plan shall be implemented and funded through the sale of the
Property in accordance with an Auction sale process conducted
pursuant to the terms of the Approved Bid Procedures. The results
of the Auction, either to the Senior Lender pursuant to a credit
bid or to a third-party buyer (in either event, the "Successful
Purchaser"), shall be confirmed at the Confirmation Hearing and
incorporated as part of the Plan and Confirmation Order with a
closing to occur on a postconfirmation basis to preserve the
transfer tax exemption under Section 1146(a) of the Bankruptcy
Code.
The Bankruptcy Court has entered an Order and scheduling a hearing
to consider confirmation of the Plan on September 17, 2024 at 10:00
a.m. (the "Confirmation Hearing"). In order to be considered, a
ballot must be actually received on or before September 10, 2024 at
5:00 p.m. (the "Voting Deadline").
A full-text copy of the Amended Disclosure Statement dated June 18,
2024 is available at https://urlcurt.com/u?l=0LpOfU from
PacerMonitor.com at no charge.
The Debtor's Counsel:
Kevin Nash, Esq.
GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
125 Park Ave
New York, NY 10017-5690
Tel: knash@gwflaw.com
About Hello Nostrand
Hello Nostrand LLC is the owner of a residential apartment building
located at 1580 Nostrand Avenue, Brooklyn, NY.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y Case No. 24-22192) on March 8,
2024, with $50 million to $100 million in assets and liabilities.
Lee Buchwald, restructuring officer, signed the petition.
Judge Sean H. Lane presides over the case.
Kevin Nash, at GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP, is the
Debtor's legal counsel.
HEYCART INC: Committee Taps Foresight as Financial Advisor
----------------------------------------------------------
The official committee of unsecured creditors of Heycart, Inc.
seeks approval from the U.S. Bankruptcy Court for the Central
District of California to employ Foresight Restructuring as its
financial advisor.
The firm will render these services:
a. monitor Debtor's financial and operating performance
including current operations, monthly operating reports, and other
financial and operating analyses or periodic reports provided by
Debtor;
b. perform due diligence with respect to the assets and
liabilities, business, financial conditions, and opportunities for
the Debtor to enhance its profitability;
c. assess cash and liquidity requirements of the Debtor, as
well as analyze proposed Debtor-in-Possession financing, including
proposing and negotiating alternatives as considered necessary;
d. evaluate the possible rejection of any executory contracts
and unexpired leases;
e. analyze the potential values of the Debtor's assets and
businesses, the secured and unsecured claims, and the potential
recoveries to the unsecured creditors;
f. assist in the negotiations, evaluation, and formulation of
any proposed Plan of Reorganization or restructuring-related
alternatives;
g. assist the Committee in determining the best strategy for
maximizing values for creditors; and
h. to the extent necessary, provide testimony (including
deposition testimony) before the Bankruptcy Court on matters within
the financial advisory firm's expertise.
Foresight Restructuring shall be compensated on an hourly basis at
its standard hourly rates, which range from $250 to $550.
Yi Zhu, a principal of Foresight Restructuring, disclosed that his
firm is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.
The firm can be reached through:
Yi Zhu
Foresight Restructuring, LLC
151 Mount Grove Road
Califon, NJ 07830
Telephone: (646) 881-4087
Email: info@foresightrestructuring.com
About Heycart, Inc.
Heycart Inc. is primarily engaged in selling utensils, ceramic
dishes, reusable labels and wine accessories.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-10483) on February
28, 2024. In the petition signed by Aiden Chien, chief operating
officer, the Debtor disclosed $1,231,380 in assets and $23,500,047
in liabilities.
Judge Theodor Albert oversees the case.
Zev Schechtman, Esq., at DANNING, GILL, ISRAEL & KRASNOFF, LLP,
represents the Debtor as legal counsel.
HIGH SOCIETY: Seeks to Hire Kutner Brinen Dickey as Legal Counsel
-----------------------------------------------------------------
High Society Freeride Company, LLC seeks approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Kutner Brinen
Dickey Riley, P.C., as its counsel.
The professional services that Counsel is to render are:
a. provide the Debtor with legal advice with respect to its
powers and duties;
b. aid the Debtor in the development of a plan of
reorganization under Chapter 11;
c. file the necessary petitions, pleadings, reports, and
actions which may be required in the continued administration of
the Debtor's property under Chapter 11;
d. take necessary actions to enjoin and stay until final
decree continuation of pending proceedings and to enjoin and stay
until final decree commencement of lien foreclosure proceedings and
all matters as may be provided under 11 U.S.C. Sec. 362; and
e. perform all other legal services for the Debtor which may
be necessary.
The firm's customary hourly rates are:
Jeffrey S. Brinen $515
Jonathan M. Dickey $375
Keri L. Riley $375
The Firm received a retainer of $21,738
Keri Riley, Esq., an attorney at Kutner Brinen Dickey Riley,
disclosed in a court filing that the firm is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Keri L. Riley, Esq.
KUTNER BRINEN DICKEY RILEY, P.C.
1660 Lincoln Street, Suite 1720
Denver, CO 80264
Telephone: 303-832-2400
Email: klr@kutnerlaw.com
About High Society Freeride Company, LLC
High Society Freeride Company, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo.
Case No. 24-13443) on June 20, 2024, listing $392,999 in assets and
$4,394,798 in liabilities. The petition was signed by Paul W.
Menter as CEO, CFO, and managing
member.
Judge Joseph G Rosania Jr. presides over the case.
Keri L. Riley, Esq. at KUTNER BRINEN DICKEY RILEY PC represents the
Debtor as counsel.
HOLIDAY IN CAM: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------
Debtor: Holiday in Cam LLC
14602 Villa Maria Isabel
Corpus Christi, TX 78418
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 24-20188
Judge: Hon. Marvin Isgur
Debtor's Counsel: H. Gray Burks, IV, Esq.
BURKSBAKER PLLC
950 Echo Ln Ste 300
Houston TX 77024-2824
Tel: (713) 897-1297
Email: gray.burks@bakerassociates.net
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Robert Orfino, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/4NI25UA/Holiday_in_Cam_LLC__txsbke-24-20188__0001.0.pdf?mcid=tGE4TAMA
IMERI ENTERPRISES: Hires Amin Realty as Real Estate Broker
----------------------------------------------------------
Imeri Enterprises, Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Amin Realty,
Inc. as real estate broker.
The firm will market and sell the Debtor's real property located at
28332 Southwest Highway 59, Rosenberg, TX 77471.
The firm will be paid a commission of 2.25 percent of the sales
price.
As disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Rorik Seth
Amin Realty, Inc.
3 Sugar Creek Center Blvd. Suite 100
Sugar Land TX, 77478
Tel: (281) 968-5019
Email: rseth@aminrealtyinc.com
About Imeri Enterprises, Inc.
Imeri Enterprises, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-32106) on May
6, 2024, with $1 million to $10 million in both assets and
liabilities. Isen Imeri, president, signed the petition.
Judge Eduardo V. Rodriguez presides over the case.
Reese Baker, Esq., at Baker & Associates represents the Debtor as
legal counsel.
IN HOME PERSONAL: Seeks to Hire James Young as Bankruptcy Counsel
-----------------------------------------------------------------
In Home Personal Services, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Illinois to hire the
Law Offices of James Young Law to handle the Chapter 11
proceedings.
The firm will bill all services at the rate of $400 per hour.
James Young Law requested a prepetition retainer in the amount of
$25,000, and $1,738 filing fee.
James Young Law will also be reimbursed for reasonable
out-of-pocket expenses incurred.
James A. Young, a partner of James Young Law, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.
James Young Law can be reached at:
James A. Young, Esq.
JAMES YOUNG LAW, LLC
85 Market Street
Elgin, IL 60123
Tel: (847) 608-9526
About In Home Personal Services, Inc.
In Home Personal Services, Inc. operates a health care business.
In Home Personal Services, Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill.
Case no. 24-08842) on June 15, 2024, listing $744,226 in assets and
$3,509,818 in liabilities. The petition was signed by Michael
Collura as president.
Judge Jacqueline P. Cox presides over the case.
James A. Young, Esq. at JAMES YOUNG LAW represents the Debtor as
legal counsel.
IN PHAZE ELECTRIC: Case Summary & 14 Unsecured Creditors
--------------------------------------------------------
Debtor: In Phaze Electric Inc.
10139 Rivers Trail Drive
Orlando, FL 32817
Chapter 11 Petition Date: July 3, 2024
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 24-03409
Judge: Hon. Lori V Vaughan
Debtor's Counsel: Daniel A. Velasquez, Esq.
LATHAM LUNA EDEN & BEAUDINE LLP
201 S. Orange Avenue
Suite 1400
Orlando, FL 32801
Tel: (407) 481-5800
Fax: (407) 481-5801
Email: dvelasquez@lathamluna.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Anthony Taylor, sole shareholder.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 14 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/XHWNRRQ/In_Phaze_Electric_Inc__flmbke-24-03409__0001.0.pdf?mcid=tGE4TAMA
INDUSTRIAL AUTHORITY: Files Amendment to Disclosure Statement
-------------------------------------------------------------
The Industrial Authority of Mayfield-Graves County submitted an
Amended Disclosure Statement for the Amended Plan of Reorganization
dated June 18, 2024.
The Debtor is a local nonprofit industrial development authority
established under KRS §154.50-301 to §154.50-346, the Local
Industrial Development Authority Act ("IDA Act"). The primary
function of the Debtor is to foster economic development by
acquiring land for the benefit of industrial and manufacturing
entities.
The Debtor holds bare title to the land and executes mortgage(s) to
fund the purchase of each property. In return, the business lessee
remits lease payments equal to the mortgage payment for a period of
30 years or less.
During this Chapter 11 Case, Debtor has maintained possession of
its assets and has continued normal business operations as a debtor
in possession.
Like in the prior iteration of the Plan, each holder of a Class 3
Allowed Unsecured Non-Priority Claims shall receive a one-time cash
payment equal to the holder's Pro Rata share of the funds available
for distribution among holders of Class 3 Claims from the IAMGC
Creditor Trust.
Upon entry of the Confirmation Order, Debtor will continue to
operate its business and manage all assets not contributed to the
Creditor Trust as described below and in the Plan. The Debtor's
continued operations will involve collection and application of
PILOT payments from its co-obligors and/or lessees and sublessees
to meet its ongoing operating expenses and direct payments to
holders of Claims in Classes 2A, 2B, 2C, and 2D by the respective
non-Debtor co-obligor(s).
A full-text copy of the Amended Disclosure Statement dated June 18,
2024 is available at https://urlcurt.com/u?l=VtmQuZ from
PacerMonitor.com at no charge.
Counsel for the Debtor:
Charity S. Bird, Esq.
Tyler R. Yeager, Esq.
KAPLAN JOHNSON ABATE & BIRD LLP
710 West Main Street, Fourth Floor
Louisville, KY 40202
Tel: (502) 540-8285
Fax: (502) 540-8282
Email: cbird@kaplanjohnsonlaw.com
- and -
Ryan K. Cochran, Esq.
Kendria Lewis, Esq.
EPSTEIN BECKER & GREEN, P.C.
1222 Demonbreun Street, Suite 1400
Nashville, TN 37203
Tel: (615) 564-6060
Fax: (615) 691-7715
Email: rcochran@ebglaw.com
Email: klewis@kaplanjohnsonlaw.com
About The Industrial Authority of
Mayfield-Graves County
The Industrial Authority of Mayfield-Graves County filed its
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Ky. Case No. 23-50409) on Sep. 4, 2023. The
petition was signed by Darvin D. Towery as chairman. At the time of
filing, the Debtor estimated $10 million to $50 million in both
assets and liabilities.
Charity S. Bird, Esq., at KAPLAN JOHNSON ABATE & BIRD LLP,
represents the Debtor as counsel.
INK! COFFEE: Hires Onsager Fletcher Johnson as Counsel
------------------------------------------------------
Ink! Coffee Company seeks approval from the U.S. Bankruptcy Court
for the District of Colorado to employ Onsager Fletcher Johnson
Palmer, LLC as its counsel.
The Debtor requires legal counsel to:
(a) advise the Debtor of its rights and duties in the
continued business operations;
(b) assist, advise, and represent the Debtor in any manner
relevant to preserve and protect its estate;
(c) prepare legal papers;
(d) appear in court and to protect the Debtor's interests
before the court;
(e) assist in the winding up and dismissal of the bankruptcy
proceedings of the Debtor, post-confirmation;
(f) assist the Debtor in administrative matters; and
(g) perform all other legal services for the Debtor which may
be necessary and proper in these proceedings.
The firm will be paid at these rates:
Christian C. Onsager $600 per hour
J. Brian Fletcher $425 per hour
Andrew D. Johnson $400 per hour
Gabrielle G. Palmer $325 per hour
Joli A. Lofstedt $425 per hour
Alice A. White $450 per hour
Paralegal $150 per hour
The firm received from the Debtor a retainer of $5,000.
As disclosed in a court filing that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Andrew D. Johnson, Esq.
Gabrielle G. Palmer, Esq.
Onsager Fletcher Johnson Palmer, LLC
600 17th Street, Suite 425 North
Denver, CO 80202
Tel: (720) 457-7059
Email: ajohnson@OFJlaw.com
gpalmer@OFJlaw.com
About Ink! Coffee Company
Ink! Coffee Company in Aurora, CO, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Colo. Case No. 24-13445) on June
20, 2024, listing $0 to $50,000 in assets and $1 million to $10
million in liabilities. Keith Herbert as president, signed the
petition.
ONSAGER | FLETCHER | JOHNSON | PALMER LLC serve as the Debtor's
legal counsel. R2 ADVISORS LLC as financial advisor.
INK! COFFEE: Hires R2 Advisors LLC as Financial Advisor
-------------------------------------------------------
Ink! Coffee Company seeks approval from the U.S. Bankruptcy Court
for the District of Colorado to employ r2 advisors llc as financial
advisor and marketing consultant.
The firm's services include:
a. analyzing the Debtor's business, assets, and financial
condition;
b. advising the Debtor on matters related to its business;
c. marketing the Debtor's assets;
d. assisting with a potential sale of the Debtor's assets in
this chapter 11 case; and
e. assisting with the development and implementation of a
chapter 11 exit strategy.
The firm will be paid at these rates:
Managing Director $700 per hour
Director $350 per hour
Analyst $150 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Thomas Kim, a managing director at r2 advisors, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Thomas Kim
r2 advisors llc
1350 17th St., Suite 210
Denver, CO 80202
Tel: (303) 865-8460
Email: tkim@r2llc.com
About Ink! Coffee Company
Ink! Coffee Company in Aurora, CO, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Colo. Case No. 24-13445) on June
20, 2024, listing $0 to $50,000 in assets and $1 million to $10
million in liabilities. Keith Herbert as president, signed the
petition.
ONSAGER | FLETCHER | JOHNSON | PALMER LLC serve as the Debtor's
legal counsel. R2 ADVISORS LLC as financial advisor.
IQOR HOLDINGS: S&P Withdraws 'CCC' Issuer Credit Rating
-------------------------------------------------------
S&P Global Ratings withdrew all of its ratings on iQor Holdings
Inc., including the 'CCC' issuer credit rating and our issue-level
and recovery ratings on the debt at iQor US Inc., at the issuer's
request.
The company requested the withdrawal following the completion of
its refinancing and the repayment of its rated debt. At the time of
the withdrawal, S&P's ratings on iQor were on CreditWatch, where it
placed them with positive implications on June 7, 2024.
JB'S BBQ: Seeks to Hire Eileen N. Shaffer as Bankruptcy Counsel
---------------------------------------------------------------
JB's BBQ and More LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Mississippi to hire Eileen N. Shaffer,
Attorney at Law as its counsel.
The firm will provide these services:
a. advise the Debtor regarding questions that will arise
throughout the pendency of its Chapter 11 bankruptcy proceeding;
b. appear in, prosecute, and defend suits and proceedings;
c. represent the Debtor in court hearings and assisting in the
preparation of legal papers;
d. advise the Debtor in connection with any reorganization
plan, which may be proposed in the bankruptcy proceeding and other
matters concerning the Debtor; and
e. perform other necessary legal services.
The firm will be paid as follows:
Attorney $200 per hour
Paralegal $100 per hour
In addition, the firm will seek reimbursement for its
out-of-pocket
expenses.
Eileen Shaffer, Esq., disclosed in a court filing that her firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached at:
Eileen N. Shaffer, Esq.
Eileen N. Shaffer, Attorney at Law
Post Office Box 1177
Jackson, MS 39215-1177
Tel: (601) 969-3006
Email: eshaffer@eshaffer-law.com
About JB's BBQ and More LLC
JB's BBQ and More LLC sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 24-01443) on
June 21, 2024, listing up to $50,000 in assets and $50,001 to
$100,000 in liabilities.
Judge Katharine M Samson presides over the case.
Eileen N. Shaffer, Esq. represents the Debtor as counsel.
JRI LLC: Hires Law Office of John E. Dunlap as Counsel
------------------------------------------------------
JRI, LLC seeks approval from the U.S. Bankruptcy Court for the
Western District of Tennessee to employ Law Office of John E.
Dunlap as counsel.
The firm will provide these services:
a. advise the debtor with respect to his powers and duties as
debtor in possession in the continued management and operation of
his business;
b. attend meeting of creditors and negotiate with
representatives of creditors and other parties in interest and
advise and consult on the conduct of the case;
c. take all necessary action to protect and preserve the
debtor's estate;
d. prepare on behalf of the debtor all motions, applications,
answers, orders, reports and papers necessary to the administration
of the estate;
e. negotiate and prepare on the debtor's behalf a plan of
reorganization, disclosure statements, and all related agreements
and documents and take all necessary action on behalf of the debtor
to obtain confirmation of such a plan;
f. advise the debtor in connection with the sale of assets;
g. appear before this Court, and any appellate courts, and the
U.S. Trustee and protect the interest of the debtor's estate before
such Court and the U.S. Trustee; and
h. perform all other necessary legal services and provide all
necessary legal advice to the debtor in connection with this
Chapter 11 case.
The firm will be paid at the rate of $250 per hour. The firm
received a retainer of $6,738.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
John E. Dunlap, Esq., a partner at Law Office of John E. Dunlap,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
John E. Dunlap, Esq.
Law Office of John E. Dunlap
3340 Polar Avenue, Suite 320
Memphis, Tennessee 38111
Tel: (901) 320-1603
Fax: (901) 320-6914
Email: jdunlap00@gmail.com
About JRI, LLC
JRI, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Tenn.
Case No. 24-22756) on June 10, 2024, disclosing under $1 million in
both assets and liabilities. The Debtor is represented by LAW
OFFICE OF JOHN E. DUNLAP.
JRNY COUNSELING: Seeks to Hire Brock Legal LLC as Counsel
---------------------------------------------------------
JRNY Counseling LP seeks approval from the U.S. Bankruptcy Court
for the Southern District of Indiana to employ Brock Legal LLC as
counsel.
The firm will provide these services:
(a) give the Debtor legal advice with respect to its powers and
duties as debtor-in-possession and management of its property;
(b) take necessary action to avoid the attachment of any lien
against the Debtor's property threatened by secured creditors
holding liens;
(c) prepare on behalf of the Debtor as debtor-in-possession
necessary petitions, answers, orders, reports, and other legal
papers; and
(d) perform all other legal services for the Debtor as
debtor-in-possession which may be necessary herein, inclusive of
the preparation of petitions and orders respecting the sale or
release of equipment not found to be necessary in the management of
its property, to file petitions and orders for the borrowing of
funds; and it is necessary for the Debtor as debtor-in-possession
to employ counsel for such professional services.
The firm will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.
The firm received from the Debtor the amount of $4,000 as
retainer.
S. Zachary T. Brock, Esq., a partner at Brock Legal LLC, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
S. Zachary T. Brock, Esq.
Brock Legal LLC
16566 Maines Valley Drive
Noblesville, IN 46062
Tel: (317) 203-9098
Email: Zach@IndyFinanceLaw.com
About JRNY Counseling LP
JRNY Counseling, LP filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 24-02923) on June
4, 2024, with up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Jeffrey J. Graham presides over the case.
Shawn Brock, Esq., at Brock Legal, LLC represents the Debtor as
legal counsel.
JTRE 14 VESEY: Taps Cushman & Wakefield as Real Estate Broker
-------------------------------------------------------------
JTRE 14 Vesey LLC seeks approval from the U.S. Bankruptcy Court for
the District of New Jersey to hire Cushman & Wakefield as its real
estate broker.
The Debtor requires the assistance of a sophisticated broker to
market the Debtor's main asset -- the premises located at 14 Vesey
Street, New York, New York -- in order to obtain the highest and
best value.
The broker will be compensated as follows:
a. 2 percent for gross sales up to $25 million;
b. 2.5 percent for gross sales from $25 million-$30 million;
and
c. 3 percent for gross sales above $30 million.
As disclosed in the court filings, Cushman & Wakefield is a
disinterested person under 11 U.S.C. Sec. 101(14).
The firm can be reached through:
Ian Lerner
Cushman & Wakefield
1290 Avenue of the Americas
New York, NY 10104
Phone: (212) 841-5948
Email: Ian.Lerner@cushwake.com
About JTRE 14 Vesey LLC
JTRE 14 Vesey LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-12087)
on Feb. 28, 2024, listing $10 million to $50 million in both assets
and liabilities. Eric Horn, Esq. at A.Y. Strauss LLC represents the
Debtor as counsel.
KIDDE-FENWAL: Completes Sale to Pacific Avenue Capital Partners
---------------------------------------------------------------
Kidde-Fenwal, Inc. (KFI), a world leader in designing and
manufacturing industrial and commercial fire suppression systems
and safety controls, announced on July 2 that it has closed on the
sale of substantially all of its assets to an affiliate of Pacific
Avenue Capital Partners (PACP). The transaction was previously
approved by the United States Bankruptcy Court for the District of
Delaware on April 2, 2024. Under PACP's ownership, the business
will go to market as "KiddeFenwal".
KFI was a separate corporation that operated independently from its
ultimate corporate parent, Carrier Global Corporation. There is no
affiliation with the ongoing sale of Carrier Global's Commercial
and Residential Fire business.
The sale of KFI was led by its independent directors and their
advisors.
The deal positions KiddeFenwal for substantial growth while
allowing it to further expand its market share, both in the U.S.
and globally.
Under Pacific Avenue's ownership, KiddeFenwal will sharpen its
focus on serving a growing, diversified customer and end user base
that requires the highly integrated, competitively priced,
customer-supported fire suppression and safety controls for which
the company has long been well known. Additionally, it will
accelerate product competitiveness and innovation, expanding and
enhancing its proprietary, fully certified offerings as regulatory
bodies drive transitions to more environmentally friendly solutions
in industries spanning power generation / transmission, data
centers, commercial food service, marine, industrial and HVAC.
"With its enviable product portfolio, established brand equity and
strong customer relationships, KiddeFenwal has long been a
dominant, global leader in the fire safety systems and controls
category. Now it is poised to truly accelerate growth," said James
Oh, Partner of Pacific Avenue Capital Partners. "Our team looks
forward to helping the company fully leverage its strong
fundamentals and prevailing market tailwinds, drive innovation and
make investments in operations that support our extraordinary teams
and enhance our value to customers who place a tremendous amount of
trust in us given the critical nature of our products."
"Pacific Avenue's breadth and depth of experience completing
middle-market carve-outs and complex situations was critical in
partnering with Carrier on this transaction," said Chris Sznewajs,
Founder and Managing Partner of Pacific Avenue Capital Partners. "I
am excited to welcome the KiddeFenwal brand and team, and look
forward to all that lies ahead for the business. This company is
exceptionally well-positioned to build on its industry leading
brand and market position."
Pacific Avenue Capital Partners received approval on its purchase
of substantially all the assets of Kidde-Fenwal, Inc. by the United
States Bankruptcy Court for the District of Delaware on April 2,
2024, with certain contributed assets being approved for
acquisition by an affiliate of Pacific Avenue.
Pacific Avenue was advised by Stifel, Nicolaus & Company,
Incorporated as financial advisor and Raines Feldman Littrell LLP
as legal advisor.
About Kidde-Fenwal
Kidde-Fenwal Inc. -- https://www.kidde-fenwal.com/ -- manufactures
fire protection systems. It offers products such as fire control
systems, explosion aircraft protection, laser-based smoke detection
devices, electronic gas ignitions, and fire suppressions.
Kidde-Fenwal markets its products to mining, manufacturing,
education, and commercial sectors.
Kidde-Fenwal sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Case No. 23-10638) on May 14, 2023. In the
petition filed by its chief transformation officer, James
Mesterharm, the Debtor reported assets between $100 million and
$500 million and estimated liabilities between$1 billion and $10
billion.
The Debtor tapped Sullivan & Cromwell, LLP and Morris Nichols Arsht
& Tunnell, LLP as legal counsels; andGuggenheim Securities, LLC as
investment banker. Stretto, Inc. is the claims and noticing agent
and administrative advisor.
LOS TRECE TEXAS: Case Summary & Five Unsecured Creditors
--------------------------------------------------------
Debtor: Los Trece Texas, LLC
13114 S. Ridge Cir.
Leander, TX 78641
Business Description: Los Trece is a destination for events,
weekly live music, food, and hand-
crafted cocktails.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Western District of Texas
Case No.: 24-10768
Judge: Hon. Shad Robinson
Debtor's Counsel: Stephen W Sather, Esq.
BARRON & NEWBURGER, P.C.
7320 N. MoPac Expressway 400
Austin, TX 78731
Tel: (512) 649-3243
Email: ssather@bn-lawyers.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Carrie Wells, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's five unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/PAABZOQ/Los_Trece_Texas_LLC__txwbke-24-10768__0001.0.pdf?mcid=tGE4TAMA
LOUISVILLE INTEGRATED: Charity Bird Named Subchapter V Trustee
--------------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Charity Bird of
Kaplan, Johnson, Abate, & Bird as Subchapter V trustee for
Louisville Integrated Care Corporation.
Ms. Bird will be paid an hourly fee of $300 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Bird declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Charity Bird
Kaplan, Johnson, Abate, & Bird
710 W. Main Street, 4th Floor
Louisville, KY 40202
Phone: (502) 540-8285
Email: cbird@kaplanjohnsonlaw.com
About Louisville Integrated Care
Louisville Integrated Care Corporation sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No.
24-31552) on June 18, 2024, with up to $50,000 in assets and up to
$500,000 in liabilities.
Michael W. McClain, Esq., at Mcclain Law Group, PLLC represents the
Debtor as bankruptcy counsel.
LOUISVILLE INTEGRATED: Hires McClain Law Group PLLC as Counsel
--------------------------------------------------------------
Louisville Integrated Care Corporation seeks approval from the U.S.
Bankruptcy Court for the Western District of Kentucky to employ
McClain Law Group, PLLC as counsel.
The firm will provide these services:
a. give legal advice with respect to the Debtor's powers and
duties as debtor in possession in the continued operations and
management of her property;
b. take all necessary action to protect and preserve the
Debtor's estate;
c. prepare on behalf of the Debtor, as debtor in possession, all
necessary motions, answers, orders, reports and other legal papers
in connection with the administration of the Debtor's estate
herein; and
d. perform any and all other legal services for the Debtor, as
debtor in possession, in connection with this Chapter 11 case and
the formulation and implementation of the Debtor's Chapter 11
Plan.
The firm will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.
Michael W. McClain, Esq., a partner at McClain Law Group, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Michael W. McClain, Esq.
McClain Law Group
6008 Brownsboro Park Blvd., Ste. G
Louisville, KY 40207
Tel: (502) 589-1004
Fax: (888) 210-0145
Email: mmcclain@mcclainlawgroup.com
About Louisville Integrated Care Corporation
Louisville Integrated Care Corporation, filed a Chapter 11
bankruptcy petition (Bankr. W.D. Ky. Case No. 24-31552) on June 18,
2024, disclosing under $1 million in both assets and liabilities.
The Debtor hires McClain Law Group, PLLC as counsel.
LUCKY NUMBER: Case Summary & Four Unsecured Creditors
-----------------------------------------------------
Debtor: Lucky Number Seven, Inc.
355 South Grand Avenue, Ste 2450-2212
Los Angeles, CA 90071
Business Description: The Debtor owns two properties in
Bernardino, CA having a total comparable
sale value of $1.07 million.
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
Central District of California
Case No.: 24-15263
Debtor's Counsel: Anthony O. Egbase, Esq.
A.O.E. LAW & ASSOCIATES, APC
800 W. 1st Suite 400
Los Angeles, CA 90012
Tel: (213) 620-7070
Fax: (213) 620-1200
Email: info@aoelaw.com
Total Assets: $1,241,211
Total Liabilities: $920,079
The petition was signed by Micaiah James Ernest Barber, chief
executive officer.
A full-text copy of the petition containing, among other items, a
list of the Debtor's four unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/KWHEFIA/Lucky_Number_Seven_Inc__cacbke-24-15263__0001.0.pdf?mcid=tGE4TAMA
M&S OILFIELD: Hires Winship & Winship PC as Counsel
---------------------------------------------------
M&S Oilfield Service, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Wyoming to employ Winship & Winship, PC
as counsel.
The firm will provide these services:
a. assist in the production of the Debtor's schedules and
statement of financial affairs and other pleadings necessary to
file its chapter 11 case;
b. prepare on behalf of the Debtor all necessary applications,
complaints, answers, motions, orders, reports, and other legal
papers to commence a chapter 11 case;
c. attend the meeting of creditors, Initial Debtor Interview and
Case Management Conference;
d. assist in the preparation of the plan of reorganization
and/or liquidation;
e. advise the Debtor on the local rules and standard practices
of the United States Bankruptcy Court for the District of Wyoming;
f. represent the Debtor in adversary proceedings and contested
matters related to the Debtor's bankruptcy case;
g. provide legal advice with respect to Debtor's rights, powers,
obligations, and duties as a chapter 11 debtor-in-possession; and
h. provide other legal services for the Debtor as necessary and
appropriate for the administration of the Debtor's estate.
The firm will be paid at these rates:
Attorneys $400 per hour
Paralegals $125 per hour
The firm received a pre-petition retainer from the Debtor in the
amount of $20,000.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Stephen R. Winship, Esq., a partner at Winship & Winship, PC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Stephen R. Winship, Esq.
Winship & Winship, PC
145 South Durbin Street, Suite 201
Casper, WY 82601
Tel: (307) 234-8991
Email: steve@WinshipandWinship.com
About M&S Oilfield Service, LLC
M&S Oilfield Service, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Wyo. Case No. 24-20220) on June 10,
2024, with $500,001 to $1 million in assets and $100,001 to
$500,000 in liabilities.
Judge Cathleen D. Parker presides over the case.
Stephen R. Winship, Esq., at Winship And Winship, PC represents the
Debtor as legal counsel.
MAJOSTAN CORP: Unsecureds Will Get 100% with Interest in Plan
-------------------------------------------------------------
31st Street Funding LLC, a secured creditor of Majostan Corp.,
submitted an Amended Disclosure Statement describing Amended Plan
of Liquidation for the Debtor dated June 18, 2024.
The Plan is a liquidating plan that contemplates the orderly
liquidation of all property of the Debtor's estate and as such, the
Plan does not entitle the Debtor to a discharge. All Claims against
the Debtor are addressed in and are paid in whole pursuant the
Plan.
The Plan is predicated upon the Bankruptcy Court entering the
Confirmation Order, which, among other things, confirms the Plan
and vests all property of the Estate in the Plan Administrator for
the purposes of carrying out an Auction Sale of the Property and
manage the Property until it is sold and the Sale closes,
authorizes and approves the Auction Sale Procedures, and authorizes
the Auction of the Property in accordance with the terms of the
Plan and the Auction Sale Procedures.
As of the Effective Date, 31st Funding shall be the Plan
Administrator. 31st Funding shall be permitted to retain counsel
and has, as of the date hereof, selected Ravert PLLC as its
counsel. Ravert PLLC has agreed to a fixed billing rate of
$360/hour through Closing. Within three business days of the
Effective Date, the Plan Administrator shall retain MYC &
Associates or such other qualified real estate broker auctioneer as
its real estate broker and auctioneer as defined in the Plan as the
Broker and, if the Plan Administrator chooses to do so, a separate
property manager for the Property (or it may use MYC for property
management if MYC agrees) so as to maintain, preserve, prepare such
Property for marketing and Auction, and collect rents and enforce
leases post-Effective Date. The Property shall be marketed for no
less than 45 days after MYC or such other Broker is retained.
The Plan Proponent's estimate for recoveries by Holders of Allowed
Claims is based on the results of (i) the Auction,(ii) available
Cash as of the Distribution Date, if any, and (iii) is further
based on, among other things, the Plan Proponent's current view of
the likely amount of Allowed Claims, including Allowed
Administrative Expense Claims incurred by the Debtor through
confirmation of the Plan and the costs of administering and winding
down the Debtor's Estate and its commitment under the Plan for a
100% recovery to creditors.
Class 5 consists of all Allowed General Unsecured Claims. The
General Unsecured Claims filed against the Debtor or scheduled by
the Debtor in the Schedules include, as of the Filing Date: (a) a
$3,785.02 general unsecured claim asserted by the NYS Dept of
Taxation and Finance as part of Claim No. 1; (b) a $1,535.02
general unsecured claim asserted by the NYS Dept of Taxation and
Finance as part of Claim No. 2 (which may be duplicative of Claim
No. 1 and will be reviewed by the Plan Proponent and/or Plan
Administrator before such claim is paid); (c) a $17,353.76 general
unsecured claim asserted by Con Edison as part of Claim No. 3; and
(d) a $5,850.77 claim asserted by the Internal Revenue Service as
part of Claim No. 5, for a total unsecured class of claims of
$28,524.57 (without taking into account the possibility of a
duplicative claim). This Class will receive a distribution of 100%
of their allowed claims.
In the event 31st Funding is the Successful Bidder and the Property
is transferred to 31st Funding pursuant to its Opening Bid, 31st
Funding shall pay all the Allowed General Unsecured Claims in full
with interest in cash on the Distribution Date. In the event the
Successful Bidder is a Cash bidder that outbids 31st Funding, then
the Allowed General Unsecured Claims shall be paid in full with
interest from the Sales Proceeds, from available Cash and from
Causes of Action (if any). If for any reason, 31st Funding is not
the Successful Bidder and there is a shortfall of Cash to pay
claims, 31st Funding will backstop the Plan to make up the
shortfall.
The treatment and consideration to be received by General Unsecured
Claimholders, subject to the terms of the Plan, in full settlement
and final satisfaction of all of its Class 5 general unsecured
claims against the Debtor and this estate but shall not impair its
rights to payment they may have under any other classified or
unclassified claims. Class 5 is Unimpaired under the Plan and is
not entitled to vote.
Except as otherwise provided in the Plan or the Confirmation Order,
all Cash necessary for Debtor to make Distributions and payments
required under the Plan to Holders of Allowed Claims will be paid
by the Plan Administrator from the proceeds of the Auction and sale
of the Property defined in the Plan as the 'Sales Proceeds', and
from the available Cash proceeds from the Property, and/or from
recoveries from Causes of Action as required.
A full-text copy of the Amended Disclosure Statement dated June 18,
2024 is available at https://urlcurt.com/u?l=iH7Gws from
PacerMonitor.com at no charge.
Attorneys for the Plan Proponent:
RAVERT PLLC
Gary O. Ravert, Esq.
16 Madison Square West, FL 12 #269
New York, New York 10010
Tel: (646) 961-4770
Direct Fax: (917) 677-5419
Email: gravert@ravertpllc.com
About Majostan Corp.
Majostan Corp. is a primarily engaged in renting and leasing real
estate properties. It owns a three-story building located at 23 52
31st St., Astoria, N.Y.
Majostan filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 23-40331) on Jan. 31,
2023, with total assets of $2,600,000 and total liabilities of
$676,282. Andrew Moulinos, president, signed the petition.
Judge Elizabeth S. Stong oversees the case.
The Debtor is represented by Rosalyn Maldonado, Esq., at Rosalyn
Maldonado P.C.
MIDLAND PLATINUM: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Midland Platinum, LLC
d/b/a Hampton Inn Midland
5011 W Loop 250 N
Midland, TX 79707
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Middle District of Tennessee
Case No.: 24-02448
Judge: Hon. Charles M Walker
Debtor's Counsel: Henry E. ("Ned") Hildebrand, IV, Esq.
DUNHAM HILDEBRAND PAYNE WALDRON, PLLC
9020 Overlook Blvd., Suite 316
Brentwood, TN 37027
Tel: 615-933-5851
Fax: 615-777-3765
Email: ned@dhnashville.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $10 million to $50 million
The petition was signed by Mitul Patel as manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/MUDMWEA/Midland_Platinum_LLC__tnmbke-24-02448__0001.0.pdf?mcid=tGE4TAMA
MIRACLE RESTAURANT: Dwayne Murray Named Subchapter V Trustee
------------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Dwayne Murray, Esq.,
at Murray & Murray, LLC, as Subchapter V trustee for Miracle
Restaurant Group, LLC.
Mr. Murray will be paid an hourly fee of $500 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Murray declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Dwayne Murray, Esq.
Murray & Murray, LLC
4970 Bluebonnet Blvd., Suite B
Baton Rouge, LA 70809
Tel: (225) 925-1110
Fax: (225) 925-1116
Email: dmm@murraylaw.net
About Miracle Restaurant Group
Miracle Restaurant Group, LLC owns and operates a fast food
restaurant in Covington, La.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. La. Case No. 24-11158) on June 20,
2024, with $1 million to $10 million in both assets and
liabilities. Donald Moore, managing member, signed the petition.
Judge Meredith S. Grabill presides over the case.
The Debtor tapped Douglas S. Draper, Esq., at Heller, Draper &
Horn, LLC as legal counsel and Peak Franchise Capital, LLC as
financial advisor.
MONTGOMERY TREE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Montgomery Tree Farms of Texas Ltd.
5955 Alpha Road, Ste. 102-530
Dallas, TX 75240
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Eastern District of Texas
Case No.: 24-41560
Debtor's Counsel: John Paul Stanford, Esq.
QUILLING, SELANDER, LOWNDS, WINSLETT & MOSER,
P.C.
2001 Bryan Street 1800
Dallas TX 75201
Tel: (214) 880-1851
Email: jstanford@qslwm.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Philip Williams, managing member of
General Partner of Montgomery Tree Farms LLC.
The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/KF22HCI/Montgomery_Tree_Farms_of_Texas__txebke-24-41560__0001.0.pdf?mcid=tGE4TAMA
MOXY RESTAURANT: Unsecureds Will Get 14.1% of Claims over 5 Years
-----------------------------------------------------------------
Moxy Restaurant Associates Inc. filed with the U.S. Bankruptcy
Court for the Southern District of New York a Plan of
Reorganization for Small Business dated June 17, 2024.
The Debtor operates an Irish bar and restaurant located in midtown
Manhattan doing business as Smithfield Hall, primarily catering to
soccer fans.
The Debtor is a New York corporation. The equity interests in the
Debtor are held 21.25% each by Thomas McCarthy, Gavin Whiston,
Kieron Slattery, and David Massey. The remaining 15% is owned
collectively by five other individuals.
This bankruptcy case was commenced as a last resort to save the
restaurant from aggressive litigation and collection tactics
commenced by Ken Foley and Esther O'Mahony (collectively, "State
Court Plaintiffs").
The instant bankruptcy was prompted by collection tactics commenced
by the State Court Plaintiffs. Indeed, the State Court Plaintiffs
have admitted that Smithfield Hall is the Individual Defendants'
most valuable asset. Notwithstanding, they filed papers seeking to
impose significant restrictions on operations through a financial
monitor. Further, they sought to recover transfers allegedly made
by the Debtor to the wives of the Individual Defendants, salaried
employees of the Debtor during the Covid-19 era who over the course
of three years collectively earned less than $250,000.
The Plan contemplates the Debtor continuing its business post
confirmation as a going concern. The Plan proposes to pay creditors
of the Debtor from funds generated by its operations as a going
concern.
The Plan also provides (i) that the Debtor shall resume monthly
payments to its secured creditors at the contractual rate and (ii)
for the full payment of administrative and priority claims in
accordance with the Bankruptcy Code. Unsecured creditors shall
receive a pro rata share of disposable income, projected to be
about $513,240 total for five years.
Class 3 consists of the Allowed General Unsecured Claims against
Debtor. Upon the Effective Date of the Plan, in full satisfaction
of its Allowed General Unsecured Claim, on August 1 of every year
thereafter for five consecutive years, each holder of a Class 3
Allowed General Unsecured Claim will receive a Pro Rata
Distribution, of the Debtor's projected disposable income.
The Debtor's projections estimate a total of $513,240 in disposable
income for five years. Thus, Class 3 Claims are projected to get
approximately 14.1% on account of their claims over five years. The
allowed unsecured claims total $3,617,807.94. Class 3 Claims are
impaired, and therefore holders of Class 3 Claims are entitled to
vote to accept or reject the Plan.
Class 4 is for creditors with Unsecured Claims that are Allowed
Claims of $1,000 or under, or who voluntarily agree to reduce such
claim to $1,000. Holders of Class 4 Claims shall receive payment in
full on account of their claims on or before December 31, 2024.
Class 4 Claims are impaired and therefore holders of Class 4 Claims
are entitled to vote to accept or reject the Plan.
Class 5 consists of Equity Interest Holders. The Debtor's existing
Equity Interest holders shall retain such Interests. Class 5
Interests are unimpaired, and therefore holders of Class 5 is
deemed to have voted to accept the Plan.
The distributions to the creditors of the Debtor that are to be
made on and after the Effective Date under this Plan shall be
funded from the ongoing operations of the Debtor.
A full-text copy of the Plan of Reorganization dated June 17, 2024
is available at https://urlcurt.com/u?l=2cjtIl from
PacerMonitor.com at no charge.
Attorneys for the Debtor:
Vincent J. Roldan, Esq.
Mandelbaum Barrett PC
3 Becker Farm Road, Suite 105
Roseland, NJ 07068
Tel: (973) 736-4600
Fax: (973) 736-4670
Email: vroldan@mblawfirm.com
About Moxy Restaurant Associates Inc.
Moxy Restaurant Associates, Inc. operates as a full-service
restaurant in New York.
The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. N.Y. Case No. 24-10449) on March 19,
2024, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Thomas McCarthy, director, signed the
petition.
Judge Michael E. Wiles oversees the case.
Vincent Roldan, Esq., at Mandelbaum Barrett, PC represents the
Debtor as legal counsel.
MRRC HOLD: Law Firm of Russell Represents Utilities
---------------------------------------------------
Russell R. Johnson III, Esq., of the Law Firm of Russell R. Johnson
III, PLC filed a verified statement pursuant to Rule 2019 of the
Federal Rules of Bankruptcy Procedure to disclose that in the
Chapter 11 cases of MRRC Hold Co. and affiliates, the firm
represents utility companies that provided prepetition utility
goods/services to the Debtors (the "Utilities").
The Law Firm of Russell R. Johnson III, PLC was retained to
represent the Utilities in June 2024.
The names and addresses of the Utilities represented by the Firm
are:
1. Salt River Project
Attn: Breanna Holmes, Customer Credit Services ISB232
2727 E Washington St
Phoenix AZ 85034-1403
2. Arizona Public Service Company
Attn: Gisel Morales
Building M-M.S 3209
2043 W. Cheryl Drive
Phoenix, Arizona 85021-1915
3. Southern California Edison Company
Attn: Jeffrey S. Renzi, Esq.
Director and Managing Attorney
Southern California Edison Company, Law Department
2244 Walnut Grove Avenue
Rosemead, California 91770
4. San Diego Gas & Electric Company
Attn: Kelli S. Davenport, Bankruptcy Specialist
8326 Century Park Court
San Diego, CA 92123
5. Southern California Gas Company
Attn: Cranston J. Williams, Esq.
Office of the General Counsel
555 W. Fifth Street, GT14G1
Los Angeles, CA 90013-1034
6. Tucson Electric Power Company
Attn: Adam D. Melton, Esq.
Assistant General Counsel
88 E. Broadway Blvd., HQE 910
Tucson, Arizona 85701
Southern California Edison Company, Southern California Gas
Company, San Diego Gas and Electric Company, Arizona Pulic Service
Company and Tucson Electric Power Company have unsecured claims
against the Debtors arising from prepetition utility usage.
Salt River Project held a prepetition cash deposit that wholly
secured prepetition debt.
The law firm can be reached at:
Russell R. Johnson III, Esq.
LAW FIRM OF RUSSELL R. JOHNSON III, PLC
2258 Wheatland Drive
Manakin-Sabot, Virginia 23103
Telephone: (804) 749-8861
E-mail: russell@russelljohnsonlawfirm.com
About MRRC Hold
MRRC Hold Co. (d/b/a Rubio's) is a Mexican restaurant chain
specializing in fish tacos. Rubio's has locations across
California, Arizona and Nevada.
MRRC Hold Co. and two of its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 24-11164) on June 5, 2024. In the petition signed by Nicholas
D. Rubin as chief restructuring officer, MRRC Hold disclosed $10
million to $50 million in assets and $100 million to $500 million
in liabilities.
Judge Craig T. Goldblatt oversees the cases.
The Debtors tapped Whiteford, Taylor & Preston LLC as Delaware
bankruptcy counsel and Raines Feldman Littrell LLP as general
bankruptcy counsel.
Force Ten Partners LLC represents the Debtors as CRO provider.
Hilco Corporate Finance LLC acts as investment banker to the
Debtors, while Hilco Real Estate LLC acts as real estate consultant
and advisor. Bankruptcy Management Solutions, Inc., doing business
as Stretto, serves as claims and noticing agent to the Debtor.
NATIONAL TECHMARK: Hires Taft Stettinius & Hollister as Counsel
---------------------------------------------------------------
National Techmark Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Taft
Stettinius & Hollister as Counsel.
The Debtor needs the firm's legal assistance in connection with the
following cases:
(1) the Adversary Proceeding that is presently pending in the
Bankruptcy Court captioned as National Techmark Inc. v. Midaaswi,
LLC, Adv. No. 24-01002;
(2) the interpleader action filed in the U.S. District Court for
the Disctrict Court of Minnesota captioned as North American
Banking Company v. Midaaswi, LLC, et. al., Case No. 0:24-cv-00614;
and
(3) the arbitration pending within the Debtor and Midaaswi,
LLC.
The firm will be paid at these rates:
Associates $375 per hour
Senior Partners $1000 per hour
Paralegals $275 to 475 per hour
Jim Morrissen, Partner $755 per hour
Yuka Shiotani, Partner $ 425 per hour
Daniel Moak, Partner $755 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
James M. Jorissen, Esq., a partner at Stettinius & Hollister,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
James M. Jorissen, Esq.
Stettinius & Hollister
2200 IDS Center, 80 South Eighth Street
Minneapolis, MN 55402
Tel: (612) 977-8400
Fax: (612) 977-8650
About National Techmark Inc.
National Techmark, Inc., a company in Gainesville, Fla., filed
Chapter 11 petition (Bankr. N.D. Fla. Case No. 24-10031) on
February 15, 2024, with $3,059,101 in assets and $1,715,610 in
liabilities. Oscar Rodriguez, president, signed the petition.
Judge Karen K. Specie oversees the case.
Zachary Malnik, Esq., at The Salkin Law Firm, PA represents the
Debtor as bankruptcy counsel.
NATIONWIDE EXPRESS: Case Summary & Six Unsecured Creditors
----------------------------------------------------------
Debtor: Nationwide Express Inc.
153 Liberty Lane
Ringgold GA 30736
Business Description: The Debtor is part of the general freight
trucking industry.
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 24-40995
Debtor's Counsel: William Rountree, Esq.
ROUNTREE, LEITMAN, KLEIN & GEER, LLC
2987 Clairmont Road Suite 350
Atlanta GA 30329
Tel: 404-584-1238
Email: wrountree@rlkglaw.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Charlie Stinson as CEO.
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/NTXHLSY/Nationwide_Express_Inc__ganbke-24-40995__0001.0.pdf?mcid=tGE4TAMA
OMNIQ CORP: Securities Delisted From Nasdaq Effective July 8
------------------------------------------------------------
The Nasdaq Stock Market LLC disclosed in a 25-NSE Report filed with
the U.S. Securities and Exchange Commission that on June 28, 2024,
it has determined to remove from listing the securities of OMNIQ
Corp., effective at the opening of the trading session on July 8,
2024.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rules 5550(b)(2).
The Company was notified of the Staff determination on February 8,
2024. On January 23, 2024, the Company exercised its right to
appeal the Staff determination to the Listing Qualifications
Hearings Panel (Panel) pursuant to Listing Rule 5815.
On May 3, 2024, upon review of the information provided by the
Company, the Panel determined to deny the Company request to remain
listed in the Exchange.
The Company securities were suspended on May 7, 2024. The Company
did not appeal the delist decision to the Nasdaq Listing and
Hearing Review Council (Council) and the Council did not call the
matter for review. The Staff determination to delist the Company
became final on June 17, 2024.
About Omniq
omniQ Corporation -- www.omniq.com -- is a provider of
state-of-the-art computerized and machine vision image processing
technologies, anchored in its proprietary and patented artificial
intelligence innovations. The Company's extensive range of
services spans advanced data collection systems, real-time
surveillance, and monitoring capabilities catered to various
sectors, including supply chain management, homeland security,
public safety, as well as traffic and parking management. These
innovative solutions are strategically designed to secure and
optimize the movement of individuals, assets, and information
across essential infrastructures such as airports, warehouses, and
national borders. The Company serves a broad spectrum of clients,
including government agencies and esteemed Fortune 500 corporations
across several industries -- manufacturing, retail, healthcare,
distribution, transportation, logistics, food and beverage, and the
oil, gas, and chemical sectors.
Salt Lake City, Utah-based Haynie & Company, the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated April 1, 2024, citing that the Company has a deficit in
stockholders' equity, and has sustained recurring losses from
operations. This raises substantial doubt about the Company's
ability to continue as a going concern
OPTIO RX: Aves Management Steps Down as Committee Member
--------------------------------------------------------
The U.S. Trustee for Region 3 disclosed in a court filing the
resignation of Aves Management, LLC as member of the official
committee of unsecured creditors in the Chapter 11 cases of Optio
Rx, LLC and its affiliates.
The remaining members of the committee are:
2. Baybridge Pharmacy Corp.
Attn: Greg Savino
1842 Gardenia Ave.
Merrick, NY 11566
Phone: 917-767-7647
Email: gregsavino@yahoo.com
3. PIA Holdings, Inc.
Attn: Phil Altman
8973 Lakes Blvd.
West Palm Beach, FL 33412
Phone: 914-924-1974
Email: wholerx@msn.com
About Optio Rx
Optio Rx, LLC is an operator of specialty compounding pharmacies
and home infusion providers licensed across the United States. It
is based in Northbrook, Ill.
Optio Rx filed Chapter 11 petition (Bankr. D. Del. Case No.
24-11188) on June 7, 2024, with $10 million to $50 million in
assets and $100 million to $500 million in liabilities.
Judge Thomas M. Horan oversees the case.
William E. Chipman, Jr., Esq., at Chipman Brown Cicero & Cole, LLP
represents the Debtor as legal counsel.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.
Evan T. Miller, Esq., serves as the committee's bankruptcy
attorney.
PICOSA CREEK: Case Summary & Six Unsecured Creditors
----------------------------------------------------
Debtor: Picosa Creek, LLC
5555 Old Jacksonville Hwy.
Tyler, TX 75703
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Western District of Texas
Case No.: 24-51259
Debtor's Counsel: Stephen W Sather, Esq.
BARRON & NEWBURGER, P.C.
7320 N. MoPac Expressway 400
Austin TX 78731
Tel: (512) 649-3243
Email: ssather@bn-lawyers.com
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Brandon Steele as manager.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/MESP6EQ/Picosa_Creek_LLC__txwbke-24-51259__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's Six Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. DirectTV, LLC $889
PO Box Box 410347
Charlotte, NC 28241
2. Gobert Water Solutions, LLC $10,467
PO Box Box 912
Utopia, TX 78884
3. Maverick County $365
500 Quarry Street
Eagle Pass, TX 78852
4. Mummea $25,774
PO Box Box 369
Hondo, TX 78861
5. Rio Grande Electric Cooperative, Inc. $981
PO Box Box 1509
Brackettville, TX 78832
6. TIMS South Texas, LLC $780
PO Box Box 1555
Uvalde, TX 78802
POWER BLOCK: Hires CFO Solutions as Financial Advisor
-----------------------------------------------------
Power Block Coin, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Utah to employ CFO Solutions L.L.C., a Utah
limited liability company d/b/a Ampleo as accountant and financial
advisor.
The firm's services include:
(a) preparing financial disclosures, provide assistance to the
Debtor on its cash flow analysis, operating budget, including any
debtor-in-possession budget, and other financial analysis related
thereto;
(b) assist the Debtor in defining strategic and financial
objectives;
(c) provide assistance and support to the Debtor's other
financial and legal professionals and advisors in connection with
any sale transaction for some or all of the Debtor's assets,
restructuring under the Bankruptcy Code or otherwise, or other
transaction(s);
(d) assist the Debtor in the preparation of analysis and
reporting packages that may be required for the Debtor's
creditors;
(e) render financial advice to the Debtor and participating in
meeting or negotiations with stakeholders or other appropriate
parties in connection with the Debtor's restructuring; and
(f) providing the Debtor with other financial restructuring
advice;
(g) update Debtor's accounting system and reconcile Debtor's
bank accounts, books and records, and other financial records;
(h) assist the Debtor with the preparation of monthly operating
reports;
(i) assist the Debtor with the preparations of a Liquidation
Analysis;
(j) assist the Debtor in administration of the bankruptcy
filings;
(k) preparing and filing of federal, state, and local taxes;
and
(l) perform any other ancillary accounting tasks necessary to
the Debtor's operations.
The firm will be paid at these rates:
Matt McKinlay $295 per hour
Sami Ibrahim $200 per hour
Cheryl Adams $225 per hour
The firm will be paid a retainer in the amount of $10,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Cheryl Adams, a partner at CFO Solutions L.L.C., disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Cheryl Adams
FO Solutions L.L.C. d/b/a Ampleo
13601 W. McMillan Rd. #102 PMB 320
Boise, ID 83713
Tel: (208) 761-5222
About Power Block Coin, LLC
SmartFi is a unique monetary system. It combines monetary policy
with the freedoms of cryptocurrency to create a self-sustaining
open-lending platform, providing the holders of SmartFi Token the
opportunity to manage the system and become the beneficiaries of
the wealth creation that would otherwise accrue to traditional
banks.
Power Block Coin LLC in Orem, UT, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Utah Case No. 24-23041) on June
20, 2024, listing $10 million to $50 million in assets and $1
million to $10 million in liabilities. Aaron Tilton as officer,
signed the petition.
Judge Joel T Marker oversees the case.
PARSONS BEHLE & LATIMER serve as the Debtor's legal counsel.
POWER BLOCK: Hires Parsons Behle & Latimer as Attorney
------------------------------------------------------
Power Block Coin, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Utah to employ Parsons Behle & Latimer as
attorneys.
The firm's services include:
(a) advising the Debtor with respect to its powers and duties
as Debtor in possession in the continued management and operation
of its businesses and properties;
(b) advising and consulting on the conduct of this Chapter 11
Case;
(c) advising the Debtor in connection with corporate
transactions and corporate governance, negotiations, consent
solicitations, credit agreements, financing agreements, and other
agreements with creditors, equity holders, prospective acquirers
and investors, reviewing and preparing of documents and agreements,
and such other actions;
(d) reviewing and preparing pleadings in connection with this
Chapter 11 Case;
(e) attending meetings and negotiating with representatives of
creditors and other parties in interest;
(f) representing the Debtor with respect to litigations;
(g) advising the Debtor with legal issues related to the
Debtor's financial circumstances;
(h) performing all other ancillary necessary legal services
for the Debtor in connection with the prosecution of this Chapter
11 Case;
(i) taking all necessary legal actions to protect and preserve
the Debtor's estate as the Debtor requests; and
(j) taking any necessary action on behalf of the Debtor as the
Debtor requests to obtain approval of a disclosure statement and
confirmation of a chapter 11 plan and all documents related
thereto.
The firm will be paid at these hourly rates:
Brian M. Rothschild, Shareholder $490
Darren Neilson, Shareholder $420
Simeon J. Brown, Associate $350
Alexander S. Chang, Law Clerk $325
Timothy B. Smith, Shareholder $440
Jonathan Bletzaker, Shareholder $555
The firm will be paid a retainer in the amount of $50,000.
Brian M. Rothschild, Esq., at Parsons Behle, disclosed in court
filings that the firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Brian M. Rothschild, Esq.
Darren Neilson, Esq.
Simeon J. Brown, Esq.
Alexander S. Chang, Esq.
Parsons Behle & Latimer
201 South Main Street, Suite 1800
Salt Lake City, UT 84111
Tel: (801) 532-1234
Fax: (801) 536-6111
Email: BRothschild@parsonsbehle.com
DNeilson@parsonsbehle.com
SBrown@parsonsbehle.com
AChang@parsonsbehle.com
ecf@parsonsbehle.com
About Power Block Coin, LLC
SmartFi is a unique monetary system. It combines monetary policy
with the freedoms of cryptocurrency to create a self-sustaining
open-lending platform, providing the holders of SmartFi Token the
opportunity to manage the system and become the beneficiaries of
the wealth creation that would otherwise accrue to traditional
banks.
Power Block Coin LLC in Orem, UT, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Utah Case No. 24-23041) on June
20, 2024, listing $10 million to $50 million in assets and $1
million to $10 million in liabilities. Aaron Tilton as officer,
signed the petition.
Judge Joel T Marker oversees the case.
PARSONS BEHLE & LATIMER serve as the Debtor's legal counsel.
PPGE ALAMO: Seeks to Hire Smeberg Law Firm as Attorney
------------------------------------------------------
PPGE Alamo, LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire The Smeberg Law Firm, PLLC as
its attorneys.
The firm's services include:
(a) advise the Debtor with respect to the Chapter 11 case;
(b) advise the Debtor of its powers and duties and management
of its property; and
(c) perform all legal services that may be necessary.
The hourly rates of the firm's counsel and staff are as follows:
Ronald J. Smeberg, Esq. $450
Other Attorneys with six or more years of experience $450
Associate Attorneys with ten or more years of experience $375
Associate Attorneys $300
Accounting Professionals $250
Legal Assistants/Paralegals $175
In addition, the firm will seek reimbursement for expenses
incurred.
Ronald Smeberg, Esq., an attorney at The Smeberg Law Firm,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Ronald J. Smeberg, Esq.
The Smeberg Law Firm, PLLC
4 Imperial Oaks
San Antonio, TX 78248
Telephone: (210) 695-6684
Facsimile: (210) 598-7357
Email: ron@smeberg.com
About PPGE Alamo, LLC
PPGE Alamo, LLC is a hotel operator in Sugarland, Texas.
PPGE Alamo, LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
24-51143) on June 20, 2024, listing $4,054,391 in assets and
$4,480,906 in liabilities. The petition was signed by Zameer
Upadhya as manager.
Judge Craig A. Gargotta presides over the case.
Ronald Smeberg, Esq. at THE SMEBERG LAW FIRM represents the Debtor
as counsel.
PREMIER CAR WASH: Hires Barton Brimm PA as Counsel
--------------------------------------------------
Premier Car Wash Easley, LLC seeks approval from the U.S.
Bankruptcy Court for the District of South Carolina to employ
Barton Brimm, PA to handle its Chapter 11 case.
The firm will be paid at these rates:
Christine Brimm, Esq. $400 per hour
Connie Fraser, Paralegal $150 per hour
Christine Brimm, Esq., an attorney at Barton Brimm, disclosed in a
court filing that her firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Christine E. Brimm, Esq.
Barton Brimm, PA
P.O. Box 14805
Myrtle Beach, SC 29587
Telephone: (803) 256-6582
Facsimile: (803) 779-0267
Email: cbrimm@bartonbrimm.com
About Premier Car Wash Easley, LLC
Premier Car Wash Easley, LLC owns and operates a car wash business
in Easley S.C.
Premier Car Wash Easley filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. D. S.C. Case No.
24-02205) on June 20, 2024, with $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities. Ronald B. Jennings, Jr.,
member, signed the petition.
Christine E. Brimm, Esq. at Barton Brimm, PA represents the Debtor
as legal counsel.
R&N SENECA: Seeks to Hire Barton Brimm PA as Counsel
----------------------------------------------------
R&N Seneca, LLC seeks approval from the U.S. Bankruptcy Court for
the District of South Carolina to employ Barton Brimm, PA to handle
its Chapter 11 case.
The firm will be paid at these rates:
Christine Brimm, Esq. $400 per hour
Connie Fraser, Paralegal $150 per hour
Christine Brimm, Esq., an attorney at Barton Brimm, disclosed in a
court filing that her firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Christine E. Brimm, Esq.
Barton Brimm, PA
P.O. Box 14805
Myrtle Beach, SC 29587
Telephone: (803) 256-6582
Facsimile: (803) 779-0267
Email: cbrimm@bartonbrimm.com
About R&N Seneca, LLC
R&N Seneca, LLC in Easley SC, filed its voluntary petition for
Chapter 11 protection (Bankr. D.S.C. Case No. 24-02206) on June 20,
2024, listing as much as $1 million to $10 million in both assets
and liabilities. Ronald B. Jennings, Jr., as member, signed the
petition.
BARTON BRIMM, PA serve as the Debtor's legal counsel.
RAINIER VIEW: Taps Marcus & Millichap as Real Estate Agent
----------------------------------------------------------
Rainier View Court III, LLC seeks approval from the U.S. Bankruptcy
Code for the Western District of Washington to hire Marcus &
Millichap Real Estate Investment Services of Seattle to serve as
exclusive listing agent for the RVC Townhomes.
The RVC Townhomes are the Debtor's primary assets and consists
seven buildings, each containing four townhomes. Phase 1 of the RVC
Townhomes consists of sixteen townhomes in four buildings located
at 17813-19 22nd Ave E., Tacoma, WA 98445. Phase 2 consists of
twelve townhomes in three buildings located at 17821-25 22nd Ave
E., Tacoma, WA 98445.
The Representation Agreement provides for a 4 percent commission.
As disclosed in the court filings, Marcus & Millichap is a
"disinterested person" as such term is defined in section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Scott Morasch
Marcus & Millichap Real Estate
Investment Services, Inc.
401 Union St 32nd Floor
Seattle, WA 98101
Phone: (206) 826-5700
Email: scott.morasch@marcusmillichap.com
About Rainier View Court III, LLC
Rainier View Court III, LLC owns three properties located in the
state of Washington having a total current value of $14.05 million.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Wash. Case No. 24-40549) on March 14,
2024. In the petition signed by Vance Ostrander, managing member,
the Debtor disclosed $14,114,687 in total assets and $9,550,128 in
total liabilities.
Judge Brian D Lynch oversees the case.
Thomas A Buford, Esq., at Bush Kornfield, LLP, represents the
Debtor as legal counsel.
RANGE RESOURCES: S&P Upgrades ICR to 'BB+', Outlook Stable
----------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
oil and gas exploration and production (E&P) company Range
Resources Corp. to 'BB+' from 'BB' and its issue-level rating on
its unsecured debt to 'BB+' from 'BB'. S&P's '3' recovery rating on
the debt is unchanged, indicating its expectation for meaningful
(50%-70%; rounded estimate: 65%) recovery.
S&P said, "The stable outlook reflects our expectation the
company's credit metrics will remain appropriate for the rating,
including average funds from operations (FFO) to debt in the
50%-55% range in 2024 that rises to about 90% in 2025, as well as
our belief it will generate materially positive discretionary cash
flow (DCF)."
The upgrade reflects Range's solid operational execution and
continued debt reduction.
In the first quarter of 2024, the company's daily production
averaged 2.14 billion cubic feet equivalent per day (bcfe/d). Range
continues to target a maintenance capital program, which will
likely keep its production relatively flat at 2.12 bcfe/d-2.16
bcfe/d this year. The company benefits from its liquids mix because
natural gas liquids (NGLs) and oil comprised approximately 32% of
its production in the first quarter of 2024. Given the more
attractive pricing for liquids relative to natural gas, Range plans
to complete a higher proportion of liquids-rich wells while pushing
back its dry gas completions to later this year in anticipation of
more favorable natural gas prices in 2025.
S&P said, "We expect NGL prices will remain supportive over the
next two years, providing significant pricing uplift. Additionally,
Range's access to multiple end markets for natural gas and NGLs
provides its with price diversity and limits its exposure to
in-basin differentials. We expect the company's transportation
arrangements will continue to support its higher realizations, with
about 50% of its gas going to Gulf Coast markets, 30% to the U.S.
Midwest, and the remaining 20% to local markets. In addition, we
note that Range's large proved reserve base, with about 18.1
trillion cubic feet of gas equivalent (tcfe; approximately 64%
classified as proved developed) as of Dec. 31, 2023, supports the
rating. We consider the size and scale of the company's operations,
including its product and end-market diversity, as in line with
that of its 'BB+'-rated peers, such Southwestern Energy and Apache
Corp."
Additionally, Range exited the first quarter of 2024 with about
$1.43 billion of net debt, which is below the upper end of its $1.0
billion-$1.5 billion net debt target range. Overall, since year-end
2018, the company has paid down an aggregate of $2.4 billion of
outstanding debt, which has strengthened its balance sheet. In
S&P's view, Range's demonstrated commitment to maintain a
more-conservative financial policy brings it more line with that of
its peers'.
Range has one of the lowest-cost structures among natural gas
producers.
The company has low cash costs, which is supported by the high
productivity of its Appalachian wells. Considering its acreage
quality and long drilling history in the region, Range also
benefits from a shallower decline rate, which leads to lower
capital intensity and a lower required reinvestment rate compared
with those of its peers. S&P said, "The company's operating costs
(including lease operating expense, transportation, production
taxes, and cash general and administrative costs) in 2023 were
$1.75 per thousand cubic feet equivalent (mcfe), which we view as
competitive compared with those of its Appalachian gas-focused
peers (averaged $1.84/mcfe in 2023). Range's all-in, three-year
average finding and development (F&D) costs were only $0.50 per
mcfe in 2023, which we also view as favorable compared with those
its Appalachian-focused peer group (averaged $0.50/mcfe last
year)."
Range's continued debt reduction, along with its significant cash
flow generation, will lead to an improvement in its credit
metrics.
S&P said, "In addition to the company's focus on debt reduction, we
anticipate its industry leading capital efficiency, liquids
exposure, and robust hedging portfolio will support its cash flow
and credit metrics over the next two years. Based on our current
price assumptions, we estimate Range will generate significant free
cash flow in 2024, enabling it to continue to reduce its debt
toward the lower end of $1.0 billion-$1.5 billion net debt target.
Therefore, we now estimate its FFO to debt will average in the
50%-55% range in 2024, with debt to EBITDA of less than 2.0x. At
the same time, we expect the company will generate materially
positive DCF over the next two years. We note that Range has hedged
approximately 55% of its 2024 production at an average floor price
of $3.70/mcf and approximately 25% of 2025 production at an average
floor price of $4.11/mcf.
"We anticipate an uptick in shareholder returns as the company
makes progress toward the lower end of its net debt target.
"In the past two years, Range completed nearly $450 million of
share repurchases. The company has not repurchased any shares this
year as of the end of the first quarter of 2024, leaving it with
about $1.1 billion remaining under its current $1.5 billion share
buyback authorization. We expect Range will lean in and repurchase
shares more aggressively as it strengthens its balance sheet. Based
on our current estimates, we anticipate the company will repurchase
about $50 million in 2024 and about $150 million in 2025. While we
anticipate higher shareholder remuneration, we expect Range will
keep its distributions and share repurchases within its cash flows
over the next two years.
"The stable outlook on Range reflects our expectation that its
credit metrics will remain appropriate for the current rating,
including FFO to debt in the 50%-55% range in 2024 and about 90% in
2025. We also expect the company will generate positive DCF.
Furthermore, the outlook incorporates our expectation that Range
will continue to reduce its debt, which will further improve the
sustainability of its credit ratios and enable it to better
withstand commodity price volatility.
"We could lower our rating on Range if its FFO to debt approaches
45% for a sustained period, which would most likely if it
experiences a lower-than-expected commodity price environment and
doesn't make offsetting reductions in its capital spending or
shareholder rewards. Alternatively, we could lower our rating if
the company engages in more-aggressive shareholder rewards that
lead to weaker credit measures.
"We could raise our rating on Range if it expands its scale and
proved developed reserves to match those of its higher-rated peers
while increasing its FFO to debt comfortably above 60% for a
sustained period, including under our midcycle price deck
assumptions of $2.75 per million Btus (mmBtu) for Henry Hub natural
gas. We would also expect the company to generate positive DCF
while continuing to demonstrate a conservative financial policy."
REDLINE RECREATIONAL: Hires Parsons Behle & Latimer as Attorneys
----------------------------------------------------------------
Redline Recreational Toys Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Idaho to employ Parsons Behle
& Latimer as attorneys.
The firm's services include:
(a) advising the Debtor with respect to its powers and duties
as Debtor in possession in the continued management and operation
of its businesses and properties;
(b) advising and consulting on the conduct of this Chapter 11
Case;
(c) advising the Debtor in connection with corporate
transactions and corporate governance, negotiations, consent
solicitations, credit agreements, financing agreements, and other
agreements with creditors, equity holders, prospective acquirers
and investors, reviewing and preparing of documents and agreements,
and such other actions;
(d) reviewing and preparing pleadings in connection with this
Chapter 11 Case;
(e) attending meetings and negotiating with representatives of
creditors and other parties in interest;
(f) representing the Debtor with respect to litigations;
(g) advising the Debtor with legal issues related to the
Debtor's financial circumstances;
(h) performing all other ancillary necessary legal services
for the Debtor in connection with the prosecution of this Chapter
11 Case;
(i) taking all necessary legal actions to protect and preserve
the Debtor's estate as the Debtor requests; and
(j) taking any necessary action on behalf of the Debtor as the
Debtor requests to obtain approval of a disclosure statement and
confirmation of a chapter 11 plan and all documents related
thereto.
The firm will be paid at these hourly rates:
Brian M. Rothschild, Shareholder $465
Darren Neilson, Shareholder $420
On June 20, 2024, the Debtor paid the firm a retainer of $5,000.
Brian M. Rothschild,, at Parsons Behle, disclosed in court filings
that the firm is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Brian M. Rothschild, ISB #9462
PARSONS BEHLE & LATIMER
800 W Main St Suite 1300
Boise, Idaho 83702
Telephone: (208) 562-4900
Facsimile: (801) 536-6111
BRothschild@parsonsbehle.com
ECF@parsonsbehle.com
About Redline Recreational Toys Inc.
Redline is a membership-based recreational vehicle agency in Boise,
Idaho. The concept of Redline is to allow members to play on all of
the recreational toys in its fleet including boats, PWCs, ATVs,
UTVs, snowmobiles, campers, motor homes, and more, without the high
costs of renting or the hassles of owning.
Redline Recreational Toys Inc. in Boise ID, filed its voluntary
petition for Chapter 11 protection (Bankr. D. Idaho Case No.
24-00388) on June 20, 2024, listing $0 to $50,000 in assets and $1
million to $10 million in liabilities. Dustin Weniger as CEO,
signed the petition.
PARSONS BEHLE & LATIMER serve as the Debtor's legal counsel.
RITE AID: Gets Court Nod to Sell Assets to Walgreen Co.
-------------------------------------------------------
A U.S. bankruptcy judge has given the go-signal for Rite Aid
Corporation and its subsidiaries to sell some of their assets to
Walgreen Co.
Judge Michael Kaplan of the U.S. Bankruptcy Court for the District
of Delaware approved the companies' sale agreement with Walgreen,
an Illinois corporation, whose offer was selected as the winning
bid.
The assets, which include some of the companies' inventory, are
being sold "free and clear" of claims, liens, rights, interests,
and encumbrances.
The total purchase price for the assets "shall be an amount equal
to the inventory amounts," payable in accordance with the terms and
conditions of the sale agreement.
Both the companies and the buyer will commission WIS International
or another inventory valuation firm to conduct a full review and
valuation of the purchased inventory.
About Rite Aid
Rite Aid -- http://www.riteaid.com-- is a full-service pharmacy
that improves health outcomes. Rite Aid is defining the modern
pharmacy by meeting customer needs with a wide range of vehicles
that offer convenience, including retail and delivery pharmacy, as
well as services offered through our wholly owned subsidiaries,
Elixir, Bartell Drugs and Health Dialog. Elixir, Rite Aid's
pharmacy benefits and services company, consists of accredited mail
and specialty pharmacies, prescription discount programs and an
industry leading adjudication platform to offer superior member
experience and cost savings. Health Dialog provides healthcare
coaching and disease management services via live online and phone
health services. Regional chain Bartell Drugs has supported the
health and wellness needs in the Seattle area for more than 130
years.
Rite Aid employs more than 6,100 pharmacists and operates more than
2,100 retail pharmacy locations across 17 states.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Lead Case No. 23-18993) on October
15, 2023. In the petition signed by Jeffrey S. Stein, chief
executive officer and chief restructuring officer, the Debtor
disclosed $7,650,418,000 in total assets and $8,597,866,000 in
total liabilities.
Judge Michael B. Kaplan oversees the case.
The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Cole Schotz, P.C.
as local bankruptcy counsel, Guggenheim Partners as investment
banker, Alvarez & Marsal North America, LLC as financial, tax and
restructuring advisor, and Kroll Restructuring Administration as
claims and noticing agent.
Kramer Levin Naftalis & Frankel LLP, serves as counsel to the
Official Committee of Unsecured Creditors. Kelley Drye & Warren LLP
serves as co-counsel to the Committee.
A Tort Claimants Committee is represented by Akin Gump Strauss
Hauer & Feld LLP as lead counsel and Sherman, Silverstein, Kohl,
Rose & Podolsky, P.A as local counsel.
The Dann Law Firm, P.C.; Martzell, Bickford & Centola; Creadore Law
Firm PC; and Thompson Barney advise an Ad Hoc Committee comprised
of parents and guardians advocating on behalf of children born with
Neonatal Abstinence Syndrome, and who assert general unsecured
claims on account of the children's fetal opioid exposure.
DLA Piper LLP (US) serves as counsel to Medimpact Healthcare
Systems, Inc., the buyer of the Elixir pharmacy benefits management
business.
Greenberg Traurig, LLP, and Choate Hall & Stewart LLP serve as
co-counsel to Bank of America, N.A., the administrative agent for
the prepetition first lien lenders and the DIP lenders.
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fox Rothschild LLP
represent the Ad Hoc Group of Secured Noteholders. FTI Consulting
and Evercore is serving or served as financial advisors to the
Bondholders.
RIVER SUB: Hires Ray Law Offices of Ray Battaglia as Counsel
------------------------------------------------------------
River Sub, LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to employ the Law Offices of Ray
Battaglia, PLLC to handle its Chapter 11 case.
Raymond Battaglia, Esq., an attorney at the firm, will be paid at
his hourly rate of $525. In addition, his firm will seek
reimbursement for expenses incurred.
The firm received from the Debtor an initial retainer of $16,738,
including the bankruptcy court filing fee.
Mr. Battaglia disclosed in a court filing that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Raymond W. Battaglia, Esq.
Law Offices of Ray Battaglia, PLLC
66 Granburg Circle
San Antonio, TX 78218
Telephone: (210) 601-9405
Email: rbattaglialaw@outlook.com
About River Sub, LLC
River Sub, LLC in San Antonio, TX, filed its voluntary petition for
Chapter 11 protection (Bankr. W.D. Tex. Case No. 24-51145) on June
20, 2024, listing as much as $1 million to $10 million in both
assets and liabilities. Cathy Amato as manager, signed the
petition.
Judge Michael M Parker oversees the case.
LAW OFFICES OF RAY BATTAGLIA, PLLC serve as the Debtor's legal
counsel.
RKO SERVICES: Case Summary & 13 Unsecured Creditors
---------------------------------------------------
Debtor: RKO Services, LLC
14602 Villa Maria Isabel
Corpus Christi, TX 78418
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 24-20186
Judge: Hon. Marvin Isgur
Debtor's Counsel: H. Gray Burks, IV, Esq.
BURKSBAKER PLLC
950 Echo Ln Ste 300
Houston TX 77024-2824
Tel: (713) 897-1297
Email: gray.burks@bakerassociates.net
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Robert Orfino, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 13 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/XR6XV3Q/RKO_Services_LLC__txsbke-24-20186__0001.0.pdf?mcid=tGE4TAMA
ROBERT WYATT: Seeks to Hire Gray Reed as Litigation Counsel
-----------------------------------------------------------
Robert Wyatt Contracting, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Texas to employ Gray
Reed as its special litigation counsel.
The firm's services include:
(a) assisting the Debtor evaluate and prosecute the lawsuit
against D.R. Horton, including possible alternative dispute
resolution strategies;
(b) assisting the Debtor with strategy surrounding the claims,
lawsuit and/or other proceedings against D.R. Horton;
(c) preparing all motions and pleadings on behalf of the
Debtor in the D.R. Horton lawsuit, including preparing dispositive
pleadings and responses to motions by D.R. Horton;
(d) attending all evidentiary and non-evidentiary hearings in
the D.R. Horton lawsuit, hearings and/or proceedings;
(e) assisting the Debtor with scheduling matters, such as
depositions, hearings, and pretrial, trial, and post-trial
matters;
(f) assisting the Debtor with any negotiations and settlement
discussions with D.R. Horton;
(g) assisting the Debtor propound discovery against D.R.
Horton, including written and oral discovery against D.R. Horton
and third parties;
(h) assisting the Debtor prepare a litigation budget to
prosecute the D.R. Horton lawsuit;
(i) representing the Debtor at trial in the D.R. Horton
lawsuit or other proceeding.
The firm will be paid at these rates:
Vernon C. Howerton, Jr., Partner $525 per hour
Russell P. Jumper, Partner $525 per hour
Legal Assistant $300 per hour
Prior to the Petition Date, Gray Reed received a retainer in the
aggregate amount of $10,000. The firm will also be reimbursed for
reasonable out-of-pocket expenses incurred.
Vernon Howerton, Jr., Esq., a partner at Gray Reed, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Vernon C. Howerton, Jr., Esq.
GRAY REED
1601 Elm Street, Suite 4600
Dallas, TX 75201
Tel: (214) 954-4135
Fax: (214) 953-1332
Email: vhowerton@grayreed.com
About Robert Wyatt Contracting
Robert Wyatt Contracting, LLC, an excavating contractor in Fort
Worth, Texas, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-40747) on Mar. 1,
2024. In the petition signed by Robert Pfeil, president, the Debtor
disclosed up to $50 million in both assets and liabilities.
Judge Edward L. Morris oversees the case.
H. Joseph Acosta, Esq., at Condon Tobin Sladek Thornton Nerenberg
PLLC serves as the Debtor's counsel.
RQMJXL LLC: Case Summary & Nine Unsecured Creditors
---------------------------------------------------
Debtor: RQMJXL LLC
21175 State Highway 249, Ste 538
Houston, TX 77070
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 24-33112
Judge: Hon. Eduardo V Rodriguez
Debtor's Counsel: H. Gray Burks, IV, Esq.
BURKSBAKER PLLC
950 Echo Ln Ste 300
Houston TX 77024-2824
Tel: (713) 897-1297
Email: gray.burks@bakerassociates.net
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Robert Orfino, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's nine unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/XZU4GFY/RQMJXL_LLC__txsbke-24-33112__0001.0.pdf?mcid=tGE4TAMA
SALT LIFE: Seeks OK of $85-Mil. Wells Fargo DIP Facility
--------------------------------------------------------
Salt Life Beverage, LLC, Delta Apparel, Inc., and their affiliated
debtors seek permission from the United States Bankruptcy Court for
the District of Delaware to obtain postpetition secured financing
and use cash collateral to finance their operations while in
Chapter 11.
Specifically, the Debtors seek authority to enter into a
Ratification Agreement and Amendment Agreement, dated July [__],
2024, with Wells Fargo Bank, N.A. as agent for itself and the other
lender parties thereto.
The DIP Credit Agreement provides for, among other things, a senior
secured debtor-in-possession asset-based revolving facility in an
aggregate principal amount up to $85,000,000 to refinance the
Debtors' prepetition revolving asset-based secured credit facility
and includes an additional Overadvance facility of up to
$7,500,000.
The the Debtors state they have an urgent and immediate need to
access the DIP Facility, including the need to borrow up to
$11,841,000 on an interim basis.
Each Lender's Revolving DIP Commitment:
Wells Fargo Bank $3,900,000
PNC Bank $1,800,000
Regions Bank $1,800,000
-------------
Total $7,500,000
J. Tim Pruban, the President of Focus Management Group and the
Chief Restructuring Officer of the Debtors, says the DIP Facility
will be sufficient to fund the Debtors' operations and the
administration of the Chapter 11 cases through the anticipated
sales of the Debtors' assets in order to maximize the value of
those assets. "The extensive negotiations with the DIP the Agent
resulted in debtor-in-possession financing on terms that are both
reasonable and appropriate under the circumstances," he notes.
The Debtors in May 2016 obtained a revolving senior credit facility
pursuant to a Fifth Amended and Restated Credit Agreement with a
syndicate of banks consisting of Wells Fargo Bank, Regents Bank,
and PNC Bank, National Association, with Wells Fargo as lender and
agent.
The maximum borrowing amount under the Senior Credit Facility is
the lesser of $150 million and a Borrowing Base calculated with
reference to certain percentages of Eligible Accounts, Eligible
Inventory, Eligible Equipment, and Eligible Real Property (as such
terms are defined therein), subject to certain reserves. The Senior
Credit Facility includes an Availability Block (as defined therein)
of $10 million, which reduces the availability thereunder by such
amount. As of June 28, 2024, the Company had $80,383,098.79
outstanding under the Senior Credit Facility, consisting of
Revolving Loans in the principal amount of $79,958,098.79 and
Letters of Credit in the undrawn face amount of $425,000.
The DIP Facility matures on the earliest to occur of:
(a) September 27, 2024;
(b) the consummation of the sale or sales of all or
substantially all of the Borrowers' assets and properties or of all
equity interests in Debtors;
(c) the last date the Borrowers are authorized to borrow funds
under the Pre-Petition Credit Agreement pursuant to the Interim
Financing Order, unless the Final Financing Order has been entered
prior to such date, and in such event, then the last date Borrowers
are authorized to borrow funds under the Pre-Petition Credit
Agreement pursuant to the Final Financing Order; or
(d) unless the Agent otherwise agrees in writing in its
discretion, the occurrence of an Event of Default.
The DIP Lenders will receive adequate protection in the Collateral,
including through the provision of replacement liens, superpriority
administrative expense claims (subject to the payment of the Carve
Out), and current cash payment of reasonable fees and expenses,
including attorneys' fees. Each of the Agent's and the other
Lenders' (each in their respective capacities under the DIP Loan
Documents) liens, claims and security interests
in the Collateral and their Superpriority Claim are each be subject
to:
a. statutory fees payable to the U.S. Trustee pursuant to 28
U.S.C. Sec. 1930(a)(6);
b. fees payable to the Clerk of the Bankruptcy Court;
c. reasonable fees and expenses of any Chapter 7 trustee
appointed under 11 U.S.C. Sec. 726(b), not to exceed, in the
aggregate, $10,000;
d. subject to the terms and conditions of this Interim Order,
Allowed Professional Fees incurred during the period commencing on
the Petition Date and ending on the Trigger Date by attorneys,
accountants and other professionals retained by the Debtors and any
Committee(s) under 11 U.S.C. Secs. 327 or 1103(a), provided that
the aggregate amount of such Allowed Professional Fees included in
the Carve Out Expenses pursuant to this clause (d) must not exceed
the aggregate amounts for Professionals as set forth in the DIP
Budget covering the PreTrigger Date Period, less the sum of (A) all
Allowed Professional Fees incurred during the Pre-Trigger Date
Period and paid at any time, and (B) any retainers held by any
Professional; and
e. subject to the terms and conditions contained in this
Interim Order, Allowed Professional Fees incurred by Professionals
on or after the Trigger Date in an aggregate amount not to exceed
$200,000.
The Ratification Agreement includes these milestones:
-- On the Petition Date, the Debtors must file motions, each
in form and substance satisfactory to the Agent, requesting
approval from the Bankruptcy Court, of the First Day Orders,
including the cash management of the Debtors;
-- On the Petition Date, the Debtors must file motions, each
in form and substance satisfactory to the Agent, requesting
approval from the Bankruptcy Court, of DIP Credit Facility under
the Financing Order on the terms and conditions contemplated by the
Credit Agreement, granting to the Agent the security interests and
liens and superpriority administrative expense claim status set
forth and in the Financing Order, modifying the automatic stay and
other provisions required by the Agent and its counsel;
-- On or before July 3, 2024, the Bankruptcy Court must have
entered, each in form and substance satisfactory to the Agent, (i)
the Interim Financing Order, and (ii) interim First Day Orders,
each in form and substance satisfactory to the Agent, approving the
"first day" applications and motions of the Debtor, including the
cash management of the Debtors;
-- On or before July 7, 2024, the Debtors must file a motion,
in form and substance satisfactory to the Agent, (i) to approve the
Bidding Procedures and the Bidding Procedures Order with respect to
the Salt Life Sales Transaction and the Salt Life Purchase
Agreement and (ii) to approve the Bidding Procedures and the
Bidding Procedures Order with respect to the sale of the Delta
Business pursuant to Sec. 363;
-- On or before July 19, 2024, the Debtors must either (i)
receive a binding offer, in form and substance satisfactory to the
Agent, from a stalking horse bidder regarding the sale of all or
substantially all of the Delta Business pursuant to the Delta
Purchase Agreement and Delta Purchase Documents, in form and
substance acceptable to the Agent, or (ii) if no such binding offer
acceptable to Agent is received, (A) select a liquidation agent
acceptable to the Agent on terms and conditions acceptable to the
Agent to commence the orderly liquidation of all of the Delta
Business, not subject to a binding offer and (B) file an emergency
motion on a shortened basis, in form and substance acceptable to
the Agent, seeking approval of the engagement of such liquidation
agent on terms and conditions acceptable to the Agent in its sole
discretion;
-- On or before July 26, 2024, the Bankruptcy Court must have
approved, each in form and substance acceptable to the Agent, (i)
the Final Financing Order, (ii) the Bidding Procedures Order with
respect to any Delta Sales Transaction, and (iii) any interim First
Day Orders not yet approved as final First Day Orders;
-- On or before August 14, 2024, all qualified bids with
respect to the Salt Life Sales Transaction, and if applicable, the
Delta Sales Transaction, each in accordance with the Bidding
Procedures Order must have been submitted to the Debtors, with
copies of such bids provided to the Agent;
-- On or before August 20, 2024, an auction must be conducted
for the Salt Life Sales Transaction, and if applicable, the Delta
Sales Transaction to the extent such assets have not been
designated for liquidation;
-- On or before August 26, 2024, a sale hearing before the
Bankruptcy Court must be conducted to approve the highest and best
bid(s) produced at the Sales Auction and/or in accordance with the
Bidding Procedures Order with respect to the Salt Life Sales
Transaction pursuant to the Salt Life Purchase Agreement, and if
applicable, the Delta Sales Transaction pursuant to the Delta
Purchase Agreement;
-- On or before August 27, 2024, the order(s), in form and
substance satisfactory to the Agent, approving the Winning Bids
with respect to the Salt Life Sales Transaction, and if applicable,
the Delta Sales Transaction must be entered by the Bankruptcy Court
approving the sales of the Salt Life Business, and if applicable,
the Delta Business;
-- On or before September 13, 2024, (i) the Salt Life Sales
Transaction pursuant to the Salt Life Purchase Agreement, and if
applicable, the Delta Sales Transaction pursuant to the Delta
Purchase Agreement, must have been consummated on terms and
conditions acceptable to the Agent, with all net proceeds from the
closing of any the Sale Life Sales Transaction, and if applicable,
the Delta Sales Transaction to be remitted to the Agent for
application to the Obligations in accordance with the Ratification
Agreement.
Delta Apparel's 13-week cash flow forecast -- through Sept. 27,
2024 -- projects:
$21,989,000 in Total Operating Receipts
$18,984,000 in Total Operating Disbursements
$12,063,000 in Total Non-Operating Costs, which
includes $2,713,000 in Professional Fees
About Delta Apparel
Headquartered in Duluth, Georgia, Delta Apparel, Inc. is a
vertically integrated, international apparel company with
approximately 6,800 employees worldwide. The Company designs,
manufactures, sources, and markets a diverse portfolio of core
activewear and lifestyle apparel products under its primary brands
of Salt Life, Soffe, and Delta. The Company specializes in selling
casual and athletic products through a variety of distribution
channels and tiers, including outdoor and sporting goods retailers,
independent and specialty stores, better department stores and
mid-tier retailers, mass merchants, eRetailers, the U.S. military,
and through its business-to business digital platform.
Delta Apparel Inc. and six affiliates filed for Chapter 11
protection in Wilmington, Del., on June 30, 2024, with a deal in
hand to sell its Salt Life brand. The lead case is In re Salt Life
Beverage, LLC (Bankr. D. Del. Lead Case No. 24-11468). The Hon.
Judge Laurie Selber Silverstein presides over the cases. Lawyers at
Polsinelli PC serve as counsel to the Debtors. Tim Pruban at Focus
Management Group is serving as the Debtors' chief restructuring
officer. MMG Advisors, Inc., serves as investment banker. Epiq is
the claims and noticing agent and administrative advisor. Delta
Apparel's assets as of June 1, 2024, total $337,801,000 and debts
total $244,564,000. The petitions were signed by Mr. Pruban.
Counsel for Wells Fargo, the DIP Agent:
Daniel F. Fiorillo, Esq.
Chad B. Simon, Esq.
Otterbourg P.C.
230 Park Avenue
New York, NY 10169-0075
Fax: (212) 682-6104
E-mail: dfiorillo@otterbourg.com
csimon@otterbourg.com
SAN JORGE: Hires Wanda Marrero as Healthcare Financial Consultant
-----------------------------------------------------------------
San Jorge Children's Hospital Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Wanda
Marrero as healthcare financial consultant.
The firm will provide these services:
a. coordinate, review and report the reconciliations of cash
collected during the transition period of amounts owed to Debtor;
b. coordinate and take to conclusion pending audits;
c. coordinate and oversee all accounting work and final
financial statements preparation and serve as liaison with auditors
to facilitate a smooth and compliant wind-down process;
d. manage and coordinate the disposal or transfer of dead
files;
e. coordinate the preparation and facilitate the filing of final
tax returns with multiple government agencies;
f. work with legal counsel to assist in any reporting
requirement by the court or any other interested party;
g. provide periodical status report of the wind-down process
progress;
h. act as a liaison between Debtor, new owner, and other
relevant parties, facilitate communication with the new owner and
designated staffing regarding the transition process; and
i. assist in the transition of any remaining assets disposition
and operations to the new buyer or another entity, addressing any
additional responsibilities that may arise during the winding down
of the company's operations.
The firm will be paid at the rate of $95 per hour, and a retainer
of $4,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Ms. Marrero disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached at:
Wanda Marrero
Mansiones de Montecasino II
510 Calle Zorzal
Toa Alta, PR 00953
Tel: (787) 608-5399
About San Jorge Children's Hospital Inc.
San Jorge Children's Hospital, Inc., operates a hospital in San
Juan, P.R., which specializes in pediatrics.
San Jorge Children's Hospital filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case
No. 22-02630) on Sept. 1, 2022, with between $10 million and $50
million in both assets and liabilities. Edward P. Smith, chief
operating officer, signed the petition.
Judge Maria De Los Angeles Gonzalez presides over the case.
The Debtor tapped Wigberto Lugo Mender, Esq., at Lugo Mender Group,
LLC as bankruptcy counsel and Galindez, LLC as external auditor.
Cardona Jimenez Law Offices, P.S.C., represents the official
committee of unsecured creditors appointed in the Debtor's case
while RSM Puerto Rico serves as the committee's financial advisor.
SAND CASTLE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Sand Castle Construction and Hardscape, LLC
703 Ocean Blvd., Suite 502
Hampton, NH 03842
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
District of New Hampshire
Case No.: 24-10460
Judge: Hon. Bruce A Harwood
Debtor's Counsel: Eleanor Wm. Dahar, Esq.
VICTOR W. DAHAR PROFESSIONAL ASSOCIATION
20 Merrimack Street
Manchester, NH 03101
Tel: (603) 622-6595
Fax: (603) 647-8054
Email: vdaharpa@att.net
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Ian H. Ramage as 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/3SE244Y/Sand_Castle_Construction_and_Hardscape__nhbke-24-10460__0001.0.pdf?mcid=tGE4TAMA
SARC IL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: SARC IL, LLC
718 W. Business Hwy 60
Dexter, MO 63841
Chapter 11 Petition Date: July 2, 2024
Court: United States Bankruptcy Court
Eastern District of Missouri
Case No.: 24-10358
Debtor's Counsel: Spencer Desai, Esq.
THE DESAI LAW FIRM
13321 North Outer Forty Road
Suite 300
Chesterfield, MO 63017
Tel: 314-666-9781
Email: spd@desailawfirmllc.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Steven Caton as manager.
A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at:
https://www.pacermonitor.com/view/QNVQACA/SARC_IL_LLC__moebke-24-10358__0003.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/QEU4SYY/SARC_IL_LLC__moebke-24-10358__0001.0.pdf?mcid=tGE4TAMA
SCISSOR SWEEP: Hires De Leo Law Firm LLC as Legal Counsel
---------------------------------------------------------
Scissor Sweep Vinyl, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Louisiana to employ The De Leo
Law Firm LLC as counsel.
The De Leo Law Firm LLC will serve as the Debtor's legal counsel in
its Chapter 11 bankruptcy proceedings.
The firm will be paid at these rates:
Robin De Leo, Esq. $375 per hour
Paralegals $95 per hour
The Debtor paid the firm a retainer in the amount of $16,738.
As disclosed in the court filings, De Leo Law does not represent or
hold any interest adverse to the Debtor and is a disinterested
party, as defined by the Bankruptcy Code.
The firm can be reached through:
Robin R. De Leo, Esq.
The De Leo Law Firm, LLC
800 Ramon St.
Mandeville, LA 70448
Tel: (985) 727-1664
Fax: (985) 727-4388
Email: lisa@northshoreattorney.com
About Scissor Sweep Vinyl, LLC
Scissor Sweep Vinyl, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D. La. Case No. 24-11161) on June 20, 2024. The Debtor
hires The De Leo Law Firm LLC as counsel.
SCISSOR SWEEP: Lucy Sikes Named Subchapter V Trustee
----------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Lucy Sikes as
Subchapter V trustee for Scissor Sweep Vinyl, LLC.
Ms. Sikes will be paid an hourly fee of $375 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Sikes declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Lucy G. Sikes
P.O. Box 52545
Lafayette, LA 70505-2545
Telephone: 337-366-0214
Facsimile: 337-628-1319
Email: lucygsikes1@gmail.com
About Scissor Sweep Vinyl
Scissor Sweep Vinyl, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code ((Bankr. E.D. La. Case No. 24-11161) on June
20, 2024, with up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Meredith S. Grabill presides over the case.
Robin R. DeLeo, Esq., represents the Debtor as legal counsel.
SHANGRI-LA DEVELOPMENT: Hires Enterprise Management as CRO
----------------------------------------------------------
Shangri-La Development, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of California to employ Enterprise
Management Advisors, LLC and designate George P. Blanco as chief
restructuring officer.
The firm's services include:
(a) managing the affairs of the Debtor and supervising the
Debtor's employees and professionals;
(b) assisting legal counsel and the Debtor in prosecuting the
Bankruptcy Case;
(c) obtaining debtor in possession financing;
(d) seeking to preserve and maximize the value of the Debtor's
assets through one or more of the following: negotiating
debtor-in-possession financing, seeking a sale of the Debtor's
assets, pursuing avoidance actions and other claims;
(e) assisting with motions, responses, or other court activity
as requested and directed by legal counsel;
(f) preparing the Debtor's schedules and statement of financial
affairs;
(g) preparing periodic reporting to stakeholders, the Bankruptcy
Court, and the Office of the United States Trustee (the "U.S.
Trustee");
(j) negotiating with the creditors and other parties in interest
and responding to any objections to the bankruptcy plan by parties
in interest;
(k) preparing and offering declarations, reports, depositions
and in-court testimony;
(l) providing such other financial advisory services that are
necessary or desirable for the Debtor; and
(m) providing such other services as may be mutually agreed from
time to time.
The firm will be paid at these rates:
Managing Principal & Managing Directors $395 to $495 per hour
Directors/Senior Directors $350 to $395 per hour
Principal Consultant $295 to $350 per hour
Consultants / Analysts $225 to $295 per hour
Paraprofessionals $175 to $225 per hour
Administrative Staff $75 to $100 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
In the 90 days prior to the Petition Date, the firm received
payments on account of its prepetition fees and expenses in the
aggregate amount of $175,000. As of the Petition Date, the firm is
owed $122,910.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
George P. Blanco, a managing principal at Enterprise Management
Advisors, LLC, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached at:
George P. Blanco
Managing Principal
Enterprise Management Advisors, LLC
515 S. Flower Street, 18th Floor
Los Angeles, CA 90071
Tel: (213) 479-7900
Email: gbalnco@ema-group.com
About Shangri-La Development, LLC
Shangri-La Development, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Cal. Case No. 24-50639) on April 30, 2024, disclosing
under $1 million in both assets and liabilities. The Debtor is
represented by GREENBERG GLUSKER LLP.
SIERRA BONITA: Hires Robert A. Ohana as Appraiser
-------------------------------------------------
Sierra Bonita Young, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ Robert A.
Ohana, Jr., M.A.I., AI-GRS as appraiser for the real property
located at 14947 and 14963 Sierra Bonita Lane Chino, California
91710.
Mr. Ohana's flat fee is $3,650.
Mr. Ohana assured the court that he is a disinterested person
within the meaning of 11 U.S.C. Section
101(14).
The firm can be reached at:
Robert A. Ohana, Jr, MAI, AI-GRS
903 N. Hobert Boulevard, Suite 24
Los Angeles, CA 90029
Tel: (888) 509-2670
Email: ohana.robert@gmail.com
About Sierra Bonita Young, LLC
Sierra Bonita Young, LLC in Rancho Cucamonga, CA, filed its
voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case
No. 24-11501) on March 26, 2024, listing as much as $1 million to
$10 million in both assets and liabilities. Caylee M. Young as
manager, signed the petition.
Judge Wayne E. Johnson oversees the case.
MARGULIES FAITH LLP serve as the Debtor's legal counsel.
SIGNIA LTD: Seeks to Hire Wadsworth Garber as Bankruptcy Counsel
----------------------------------------------------------------
Signia, Ltd. seeks approval from the U.S. Bankruptcy Court for the
District of Colorado to hire Wadsworth Garber Warner Conrardy, P.C.
as its counsel.
The firm's services include:
a. preparation on behalf of Debtor of all necessary reports,
orders and other legal papers required in this chapter 11
proceeding;
b. performance of all legal services for Debtor as debtor in
possession which may become necessary herein; and
c. representation of Debtor in any litigation which Debtor
determines is in the best interest of the estate whether in state
or federal court(s).
The hourly rates of the firm's counsel and staff are as follows:
David V. Wadsworth $475
Aaron A. Garber $475
David J. Warner $400
Aaron J. Conrardy $400
Lindsay S. Riley $325
Paralegals $125
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Aaron Garber, Esq., a partner with Wadsworth Garber Warner
Conrardy, disclosed in a court filing that his firm is a
"disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
David V. Wadsworth, Esq.
Aaron J. Conrardy, Esq.
Wadsworth Garber Warner Conrardy, P.C.
2580 West Main Street, Suite 200
Littleton, CO 80120
Tel: (303) 296-1999
Fax: (303) 296-7600
Email: dwadsworth@wgwc-law.com
aconrardy@wgwc-law.com
About Signia, Ltd.
SIGNIA provides the full spectrum of customer service and care from
order and payment processing to customer inquiries and timely
follow-up to Tier 1 support.
Signia, Ltd. filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. 24-13438) on June 20, 2024,
listing $507,431 in assets and $10,081,009 in liabilities. The
petition was signed by Jeffrey Fell as CEO.
Judge Thomas B. Mcnamara presides over the case.
David V. Wadsworth, Esq. at WADSWORTH GARBER WARNER CONRARDY, P.C.
represents the Debtor as counsel.
SMILE KRAFTERS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Smile Krafters, PC
401 Commerce Drive
Suite 108
Fort Washington, PA 19034
Business Description: The Debtor operates a dental center in Fort
Washington, PA.
Chapter 11 Petition Date: June 30, 2024
Court: United States Bankruptcy Court
Eastern District of Pennsylvania
Case No.: 24-12256
Judge: Hon. Patricia M Mayer
Debtor's Counsel: Jeffrey Kurtzman, Esq.
KURTZMAN | STEADY, LLC
555 City Avenue
Suite 480
Bala Cynwyd, PA 19004
Tel: (215) 883-1600
Fax: (609) 482-8011
Email: kurtzman@kurtzmansteady.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $500,000 to $1 million
The petition was signed by Dr. Bhaskar Savani, president.
The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/FBOPPGQ/Smile_Krafters_PC__paebke-24-12256__0001.0.pdf?mcid=tGE4TAMA
SSE DEVELOPMENT: Hires Keery McCue PLLC as Counsel
--------------------------------------------------
SSE Development AZ, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Arizona to employ Keery McCue, PLLC as
counsel.
The Debtor requires legal counsel to:
(a) prepare pleadings and applications;
(b) conduct examinations incidental to administration;
(c) advise the Debtor of its rights, duties, and obligations
under Chapter 11 of the Bankruptcy Code;
(d) take any and all other necessary action incident to the
proper preservation and administration of this Chapter 11 estate;
and
(e) advise the Debtor in the formulation and presentation of a
plan pursuant to Chapter 11 of the Bankruptcy Code, the disclosure
statement and concerning any and all matters relating thereto.
The firm will charge at an hourly rate of $165 to $475 for its
services.
Patrick Keery, Esq., an attorney at Keery McCue, disclosed in a
court filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Martin J. McCue, Esq.
Patrick F. Keery, Esq.
Keery McCue, PLLC
6803 East Main Street, Suite 1116
Scottsdale, AZ 85251
Tel: (480) 478-0709
Fax: (480) 478-0787
Email: mjm@keerymccue.com
pfk@keerymccue.com
About SSE Development AZ, LLC
SSE Development AZ, LLC in Phoenix AZ, filed its voluntary petition
for Chapter 11 protection (Bankr. D. Ariz. Case No. 24-04919) on
June 19, 2024, listing $10 million to $50 million in assets and $1
million to $10 million in liabilities. Tim Maruyama as
member/owner, signed the petition.
KEERY MCCUE, PLLC serve as the Debtor's legal counsel.
STERETT COMPANIES: Hires Darren Gibbons of TODA Investment as CRO
-----------------------------------------------------------------
Sterett Companies, LLC and its affiliates received approval from
the U.S. Bankruptcy Court for the Western District of Kentucky to
employ TODA Investments, LLC and designate Darren Gibbons as chief
restructuring officer.
The CRO's services include:
a. maintaining and conducting all operations and
administrative activities of the Debtors in a commercially
reasonable manner in accordance with industry standards;
b. managing the Debtors' cash and other financial obligations
in accordance with Orders approving the use of cash collateral;
c. budgeting and reporting requirements in connection with any
use of cash collateral;
d. reporting on progress of the Debtors' restructuring efforts
to the Lenders, Committee, and Mr. Sterett, and as reasonably
requested by any other interested party;
e. preparing, or coordinating the preparation of, monthly
operating reports, and such other reports and information as may be
requested by the United States Trustee, Lenders, and Committee, or
otherwise required by the Bankruptcy Code and the Federal Rules of
Bankruptcy Procedure;
f. preparing, or coordinating the preparation of, such other
analyses and reports as may be required by the Bankruptcy Court,
and, as appropriate, as may be requested by the Committee, the
Lenders, or the United States Trustee;
g. subject to any limitations in the Bankruptcy Code,
formulating, evaluating, and implementing a restructuring or
liquidation plan or strategic alternatives for the Debtors (based
upon what the CRO determines to be appropriate under the
circumstances) and negotiate with the Debtors' creditors and other
stakeholders in connection therewith;
h. taking such actions as the CRO deems necessary, desirable
or appropriate to protect and preserve the value of the Debtors'
assets and business for the benefit of the Debtors' creditors and,
as appropriate, its equity security holders, in accordance with the
provisions of the Bankruptcy Code;
i. providing testimony before the Bankruptcy Court, as
necessary;
j. providing general restructuring and turnaround services
relating to the Chapter 11 Cases as is appropriate to maximize the
value of the Debtors' assets and estates;
k. causing the Debtors to enter into, assume, or reject any
contract or agreement, and to modify, amend, terminate, and/or
enforce any of its contractual rights, and to exercise the Debtors'
rights under the Debtors' agreements and other agreements in favor
of the Debtors; and
l. taking any and all other actions necessary to preserve the
Debtors' businesses and assets consistent with the requirements of
the Bankruptcy Code.
Mr. Gibbons will charge $360 per hour for his services and $180 per
hour for travel time, plus reasonable out of pocket expenses.
Mr. Gibbons assured the court that he is "disinterested person", as
defined in 11 U.S.C. 101(14).
Mr. Gibbons can be reached at:
Darren Gibbons
TODA Investments, LLC
12460 W. Auburn Ave
Lakewood, CO 80228
Tel: (303) 478-5134
Email: darrengibbsons5940@outlook.com
About Sterett Companies, LLC
Sterett Companies, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 23-40625) on October
27, 2023.
In the petition signed by William L. Sterett, III, CEO, the Debtor
disclosed up to $50,000 in assets and up to $50 million in
liabilities.
Judge Charles R. Merrill oversees the case.
Neil C. Bordy, Esq., at Seiller Waterman LLC, represents the Debtor
as legal counsel.
SUSHI ZUSHI: Seeks to Hire Smeberg Law Firm as Attorney
-------------------------------------------------------
Sushi Zushi of Texas, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to hire The Smeberg Law
Firm, PLLC as its attorneys.
The firm's services include:
(a) advise the Debtor with respect to the Chapter 11 case;
(b) advise the Debtor of its powers and duties and management
of its property; and
(c) perform all legal services that may be necessary.
The hourly rates of the firm's counsel and staff are as follows:
Ronald J. Smeberg, Esq. $450
Other Attorneys with six or more years of experience $450
Associate Attorneys with ten or more years of experience $375
Associate Attorneys $300
Accounting Professionals $250
Legal Assistants/Paralegals $175
In addition, the firm will seek reimbursement for expenses
incurred.
Ronald Smeberg, Esq., an attorney at The Smeberg Law Firm,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Ronald J. Smeberg, Esq.
The Smeberg Law Firm, PLLC
4 Imperial Oaks
San Antonio, TX 78248
Telephone: (210) 695-6684
Facsimile: (210) 598-7357
Email: ron@smeberg.com
About Sushi Zushi of Texas
Sushi Zushi of Texas, LLC operates an upscale casual dining
restaurant. Sushi Zushi balances traditional Japanese roots with
Latin American influences into an expansive menu far beyond the
ordinary.
Sushi Zushi of Texas, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
24-51147) on June 20, 2024, listing $100,000 to $500,000 in assets
and $1 million to $10 million in liabilities. The petition was
signed by Jason Kemp as manager.
Judge Michael M Parker presides over the case.
Ronald Smeberg, Esq. at THE SMEBERG LAW FIRM represents the Debtor
as counsel.
THERMOGENESIS HOLDINGS: Securities Delisted From Nasdaq
-------------------------------------------------------
The Nasdaq Stock Market LLC disclosed in a 25-NSE Report filed with
the U.S. Securities and Exchange Commission that on June 28, 2024,
it has determined to remove from listing the securities of
ThermoGenesis Holdings, Inc., effective at the opening of the
trading session on July 8, 2024.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5550(b)(1).
The Company was notified of the Staff determination on June 6,
2024. The Company did not appeal the Staff determination to the
Hearings Panel. The Company securities were suspended on June 17,
2024. The Staff determination to delist the Company securities
became final on June 17, 2024.
About ThermoGenesis
ThermoGenesis Holdings, Inc. develops and commercializes a range of
automated technologies for cell-banking, cell-processing, and
cell-based therapeutics. Since the 1990's, ThermoGenesis Holdings
has been a pioneer in, and a leading provider of, automated systems
that isolate, purify and cryogenically store units of hematopoietic
stem and progenitor cells for the cord blood banking industry. The
Company was founded in 1986 and is incorporated in the State of
Delaware and headquartered in Rancho Cordova, CA.
New York, NY-based Marcum LLP, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated April
15, 2024, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional capital to grow its business, fund operating expenses
and make interest payments. These conditions raise substantial
doubt about the Company's ability to continue as a going concern.
TPT GLOBAL: Files Preliminary S-1 for Sale of 2-Bil. Common Stock
-----------------------------------------------------------------
TPT Global Tech, Inc. filed a Preliminary Prospectus on Form S-1
with the U.S. Securities and Exchange Commission in relation to the
offer and sale of up to 2,000,000,000 shares of the Company's
Common Stock by Selling Stockholder, MacRab LLC.
The Selling Stockholders, or their respective transferees,
pledgees, donees or other successors-in-interest, may sell their
shares of TPT Global's Common Stock from time to time at prevailing
market prices, at prices related to prevailing market prices or at
privately negotiated prices. The Selling Stockholders may sell any,
all or none of the securities offered by this prospectus, and the
Company does not know when or in what amount the Selling
Stockholders may sell their Shares hereunder following the
effective date of the registration statement.
TPT Global, said, "We will pay the expenses of registering these
Shares. We will not receive any proceeds from the sale of Shares of
Common Stock in this Offering. All of the net proceeds from the
sale of the Shares will go to the Selling Stockholder. However,
subject to such limitations set forth in the Standby Equity
Commitment Agreement, we may receive gross proceeds of up to
$3,000,000 assuming that we sell all of our shares of Common Stock
that we have the right, but not the obligation, to sell to the
Selling Stockholder under the SECA."
The shares of Common Stock which are issuable upon the agreements
are being offered by means of the prospectus. The Selling
Stockholder may sell all or a portion of these Common Shares from
time to time in market transactions through any market on which the
Common Stock is then traded, in negotiated transactions or
otherwise, and at prices and on terms that will be determined by
the then prevailing market price or at negotiated prices directly
or through a broker or brokers, who may act as agent or as
principal or by a combination of such methods of sale.
The Selling Stockholder plans to sell common shares at market
prices for so long as the Company is quoted on OTCPINK and as the
market may dictate from time to time. There is a limited market for
the Common Stock, which has been trading on the OTCPINK at $0.0003
in the past 5 trading days. Based upon the five-day average price
as computed on June 25, 2024. The price will be adjusted based upon
the five-day average trading price preceding the date of request
for effectiveness of this Registration Statement.
A full-text copy of the Preliminary Prospectus is available at:
https://tinyurl.com/ywcj9abu
About TPT Global Tech
TPT Global Tech, Inc. -- www.tptglobaltech.com -- based in San
Diego, California, and operates as a technology-based company with
divisions providing telecommunications, construction and product
distribution, media content for domestic and international
syndication as well as technology solutions. The Company operates
as a Media Content Hub for Domestic and International syndication,
Technology/Telecommunications company using its own proprietary
Global Digital Media TV and Telecommunications infrastructure
platform and also provide technology solutions to businesses
domestically and worldwide. The Company offers Software as a
Service (SaaS), Technology Platform as a Service (PAAS),
Cloud-based Unified Communication as a Service (UCaaS) and
carrier-grade performance and support for businesses. Its
cloud-based UCaaS services allow businesses of any size to enjoy
all the latest voice, data, media and collaboration features in
today's global technology markets. The Company also operates as a
Master Distributor for Nationwide Mobile Virtual Network Operators
(MVNO) and Independent Sales Organization (ISO) as a Master
Distributor for Pre-Paid Cellphone services, Mobile phones,
Cellphone Accessories and Global Roaming Cellphones.
Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2016, issued a "going concern" qualification in its
report dated May 10, 2024, citing that the Company has suffered
recurring losses from operations and has a net capital deficiency
that raise substantial doubt about its ability to continue as a
going concern.
VERTEX ENERGY: Amends Deal to Obtain $15MM Additional Term Loan
---------------------------------------------------------------
Vertex Energy, Inc. previously filed a Current Report on Form 8-K
with the U.S. Securities and Exchange Commission on April 7, 2022
(as amended by that Form 8-K/A (Amendment No. 1) filed with the SEC
on April 26, 2022) disclosing that on April 1, 2022, Vertex
Refining Alabama LLC, a Delaware limited liability company which is
indirectly wholly-owned by the Company; the Company, as a
guarantor; substantially all of the Company's direct and indirect
subsidiaries, as guarantors (together with the Company and certain
direct or indirect subsidiaries of the Company which subsequently
became guarantors, the "Guarantors", and together with the Company
and Vertex Refining, the "Loan Parties"); certain funds and
accounts under management by BlackRock Financial Management, Inc.
or its affiliates, as lenders, certain funds managed or advised by
Whitebox Advisors, LLC, certain funds managed by Highbridge Capital
Management, LLC, Chambers Energy Capital IV, LP, CrowdOut Capital
LLC, CrowdOut Credit Opportunities Fund LLC, as lenders; and Cantor
Fitzgerald Securities, in its capacity as administrative agent and
collateral agent for the Lenders, entered into a Loan and Security
Agreement.
On June 25, 2024, the Loan Parties entered into an Amendment Number
Six and Limited Consent to Loan and Security Agreement ("Amendment
No. Six to Loan Agreement", and the Loan and Security Agreement as
amended to date, the "Loan and Security Agreement"), with the
Lenders and the Agent, pursuant to which (a) certain of the Lenders
agreed to provide an additional term loan in the amount of $15
million (the "Additional Term Loan", and together with the existing
term loans, the "Term Loan"); (b) the Lenders consented to
permitting consolidated liquidity of the Loan Parties to be less
than $25,000,000, but not less than $15,000,000, in each case, for
any period of more than three consecutive business days prior to
July 24, 2024; and (c) the Lenders consented to certain other
amendments to the Loan and Security Agreement and the parties
agreed to certain other mutually negotiated changes to the Loan and
Security Agreement, including requiring Vertex Refining to provide
the Lenders a weekly cash flow forecast and budget, and upon
request of the Lenders, an aging report; to include a $10 million
maximum expenditure cap in connection with catalyst assets; and to
remove certain references to a prior renewables intermediation
facility which has previously been terminated.
The proceeds of the Additional Term Loan can be used by the Company
(i) for general corporate purposes, (ii) to pay certain fees and
expenses associated with the closing of the transactions
contemplated by the Additional Term Loan, and (iii) to satisfy the
interest and principal payments with respect to the Term Loan which
prior to the effective date of Amendment No. Six to Loan Agreement
would have been due on June 28, 2024, totaling approximately $11.2
million.
The Lenders advanced Vertex Refining the Additional Term Loan (less
the Fees and Expenses and June 28 Payment) on June 27, 2024.
The amounts outstanding under the Term Loan (including the
Additional Term Loan), will bear interest at a rate per annum equal
to the sum of (i) the greater of (x) the per annum rate publicly
quoted from time to time by The Wall Street Journal as the "Prime
Rate" in the United States minus 1.50% as in effect on such day and
(y) the Federal Funds rate for such day plus 0.50%, subject in the
case of this clause (i), to a floor of 1.0%, plus (ii) 10.25%.
Interest on the Additional Term Loan is payable in cash (i)
quarterly, in arrears, on the last business day of each calendar
quarter, commencing on the last business day of the calendar
quarter ending September 30, 2024, (ii) in connection with any
payment, prepayment or repayment of the Term Loans (including as
discussed in greater detail below), and (iii) at maturity (whether
upon demand, by acceleration or otherwise).
The Company also agreed to pay certain fees and transaction
expenses in connection with the Additional Term Loan, including an
exit fee calculated to pay the Lenders providing the Additional
Term Loan a multiple of invested capital of 1.20x on the amount of
the Additional Term Loan.
Amounts owed under the Loan and Security Agreement, including the
Additional Term Loan, if not earlier repaid, are due on April 1,
2025 (or the next business day thereafter)
Pursuant to the Loan and Security Agreement, on September 30, 2024
and December 31, 2024, Vertex Refining is required to repay
$199,618 of the principal amount of the Additional Term Loan.
The amount of the Term Loan is secured by substantially all of the
present and after-acquired assets of the Company and its
subsidiaries. Additionally, Vertex Refining's obligations under the
Loan and Security Agreement are jointly and severally guaranteed by
substantially all of the Company's subsidiaries and the Company.
The Loan and Security Agreement includes customary representations
and warranties, and affirmative and negative covenants of the Loan
Parties for a facility of this size and type, including prohibiting
the Loan Parties from creating any indebtedness without the consent
of the Lenders, subject to certain exceptions, and requiring the
Loan Parties to have no less than $25 million of unrestricted cash
for any period of more than three consecutive business days (except
through July 24, 2024, which minimum unrestricted cash threshold is
$15 million). The Loan and Security Agreement includes customary
events of default for transactions of this type, including failures
to pay amounts due, bankruptcy proceedings, covenant defaults,
attachment or seizure of a material portion of the collateral
securing the Loan and Security Agreement, cross defaults, if there
is a default in any agreement governing indebtedness in excess of
$3,000,000, resulting in the right to accelerate such indebtedness,
certain judgments against the Loan Parties, misrepresentations by
the Loan Parties in the transaction documents, insolvency, cross
default of an Offtake and Supply Agreement previously entered into
by the Company, a Change of Control, termination of certain
intercreditor agreements, and the loss or termination of certain
material contracts. Upon the occurrence of an event of default, the
Agent may declare the entire amount of obligations owed under the
Loan and Security Agreement immediately due and payable and take
certain other actions provided for under the Loan and Security
Agreement, including enforcing security interests and guarantees.
The Loan and Security Agreement includes customary indemnification
obligations for a facility of this size and type, requiring us to
indemnify the Agent and the Lenders for certain expenses, losses
and claims.
In connection with the Additional Term Loan, and as additional
consideration to the Lenders providing the Additional Term Loan for
loaning funds to the Company in connection therewith, on June 25,
2024, the Company granted warrants to purchase 500,000 shares of
common stock of the Company to the Lenders, or affiliates thereof,
providing the Additional Term Loan.
The amounts owed under the Loan and Security Agreement are also
secured by various deeds of trusts and mortgages for the real
properties described therein, over the Company's Mobile, Alabama
refinery and substantially all other material owned and leased real
property of the Guarantors including properties in Texas and
Louisiana.
In connection with the entry into the Amendment No. Six to Loan
Agreement, and as a required term and condition thereof, on June
25, 2024, the Company granted warrants to purchase 500,000 shares
of the Company's common stock to the Lenders, or affiliates
thereof, providing the Additional Term Loan. The terms of the New
Warrants are set forth in a Warrant Agreement entered into on June
25, 2024, between the Company and Continental Stock Transfer &
Trust Company as warrant agent.
The New Warrants have a five year term, beginning on the date the
Additional Term Loan was made (June 27, 2024), and a $1.288 per
share exercise price, and include weighted average anti-dilutive
rights in the event any shares of common stock or other equity or
equity equivalent securities payable in common stock are granted,
issued or sold (or the Company enters into any agreement to grant,
issue or sell), or in accordance with the terms of the Warrant
Agreement, are deemed to have granted, issued or sold, subject to
certain exceptions, in each case, at a price less than the exercise
price, which automatically decreases the exercise price of the New
Warrants upon the occurrence of such event, as described in greater
detail in the Warrant Agreement, and increases the number of shares
of common stock issuable upon exercise of the New Warrants, such
that the aggregate exercise price of all New Warrants remains the
same before and after any such dilutive event. Until or unless the
Company receives shareholder approval under applicable Nasdaq
listing rules for the issuance of more than 19.9% of the Company's
outstanding shares of common stock on June 25, 2024, pursuant to
the exercise of New Warrants (i.e., 18,609,355 shares of common
stock, based on 93,514,346 shares of outstanding common stock on
such date), the Company may not issue more shares of common stock
upon exercise of the New Warrants than the Share Cap, and is
required to pay the Lenders cash, based on the fair market value of
any shares required to be issued upon exercise of the New Warrants
(as calculated in the Warrant Agreement), in excess of the Share
Cap. Upon the occurrence of a fundamental transaction (as described
in the Warrant Agreement), the Warrant Agreement (a) provides each
holder a put right and (b) provides the Company with a call right
in respect of the New Warrants. Upon the exercise of a put right by
the holder or a call right by the Company, the Company is obligated
to repurchase the New Warrants for the Black Scholes Value of the
New Warrants repurchased, as calculated in the Warrant Agreement.
The New Warrants also include cashless exercise rights and a
provision preventing a holder of the New Warrants from exercising
any portion of their New Warrants if such holder (together with its
affiliates) would beneficially own in excess of 4.99% or 9.99% (as
applicable pursuant to the Warrant Agreement) of the number of
shares of Company common stock outstanding immediately after giving
effect to the exercise, subject to certain rights of the holders to
increase or decrease such percentage.
Additionally, upon effectiveness of the consummation of any
transaction (including any merger or consolidation), in one or a
series of related transactions, the result of which is that any
"person" (as that term is defined in Section 13(d)(3) of the
Securities Exchange Act of 1934, as amended), becomes the
beneficial owner, directly or indirectly, of more than 33% of the
Company's common stock, measured by voting power rather than number
of shares, units or the like, that results from a transaction (i)
that on June 25, 2024 is being considered by the Company (whether
or not "probable") and is known to the Lenders and (ii) which
involves the issuance by the Company of common stock or common
stock equivalents, the number of shares of common stock issuable
upon exercise of each outstanding Warrant is to be proportionally
adjusted such that the percentage of shares of common stock
issuable upon exercise of the Warrant (the "Warrant Shares
Percentage") immediately following the consummation of such
transaction is equal to the Warrant Shares Percentage immediately
prior to consummation of such transaction.
In connection with the grant of the New Warrants, the Company and
the holders of the New Warrants entered into a Registration Rights
Agreement dated June 25, 2024. Under the Registration Rights
Agreement, the Company agreed to file a registration statement with
the Securities and Exchange Commission as soon as reasonably
practicable and in no event later than 30 days following June 25,
2024, for purposes of registering the resale of the shares of
common stock issuable upon exercise of the New Warrants. The
Company also agreed to use commercially reasonable efforts to cause
the SEC to declare the Registration Statement effective as soon as
practicable and no later than 45 days following the filing of the
Initial Registration Statement; provided, that such date is
extended until 105 days after the filing date if the Initial
Registration Statement is reviewed by the staff of the Commission.
The Registration Rights Agreement also provides the holders of the
New Warrants certain piggyback and demand registration rights
(including pursuant to an underwritten offering, in the event the
gross proceeds from such underwritten offering are expected to
exceed $35 million).
If, subject to certain limited exceptions described in the
Registration Rights Agreement, (i) the Initial Registration
Statement required to be filed pursuant to the Registration Rights
Agreement is not filed on or prior to the required filing deadline
(or without complying with the terms of the Registration Rights
Agreement), (ii) a registration statement registering for resale
all of the registrable securities is not declared effective by the
Commission by the required effectiveness deadline, or (iii) during
the period commencing on the effective date of the Initial
Registration Statement and ending on the earlier of the date when
there are no registrable securities or the fifth anniversary of the
effective date of the Initial Registration Statement, a
registration statement is not continuously effective to allow the
sale of the shares underlying the New Warrants, for more than 10
consecutive calendar days or more than an aggregate of 15 calendar
days (which need not be consecutive) during any 12-month period,
then, in addition to any other rights such holder of New Warrants
may have under the Registration Rights Agreement or applicable law,
(x) on the first such applicable default date, the Company shall
pay to such holder of New Warrants an amount in cash, as partial
liquidated damages and not as a penalty, equal to 1.0% of the fair
market value (such fair market value calculated as required under
the Registration Rights Agreement) of the registrable securities
held by such holder (the "1% Penalty"), and (y) on each monthly
anniversary of such default date until all applicable defaults have
been cured, shall pay the 1% Penalty, subject to a maximum penalty
of 10% of the fair market value of the registrable securities held
by each applicable holder of New Warrants (such fair market value
calculated as required under the Registration Rights Agreement).
The Company has agreed, among other things, to indemnify the
holders of the New Warrants and their affiliates with respect to
certain liabilities and to pay all fees and expenses incident to
the Company's obligations under the Registration Rights Agreement.
Third Limited Consent to Supply and Offtake Agreement
Also on June 25, 2024, Vertex Refining and Macquarie Energy North
America Trading Inc. entered into a Third Limited Consent, in
connection with that certain Supply and Offtake Agreement, dated as
of April 1, 2022, between Vertex Refining and Macquarie (as amended
from time to time, the "Supply and Offtake Agreement"). Pursuant to
the Macquarie Limited Consent, Macquarie provided a limited consent
to allow Vertex Refining to have unrestricted cash of less than $25
million, but not less than $15 million, for any period of not more
than three consecutive business days, without triggering an event
of default under such Supply and Offtake Agreement, through July
24, 2024. The Macquarie Limited Consent also provides that it would
be an event of default under the Supply and Offtake Agreement if
unrestricted cash is less than $25 million as of July 24, 2024.
About Vertex Energy
Vertex Energy is a leading energy transition company that
specializes in producing both renewable and conventional fuels. The
Company's innovative solutions are designed to enhance the
performance of our customers and partners while also prioritizing
sustainability, safety, and operational excellence. With a
commitment to providing superior products and services, Vertex
Energy is dedicated to shaping the future of the energy industry.
As of March 31, 2024, the Company has $835.1 million in total
assets, $652.1 million in total liabilities, and $183 million in
total equity.
* * *
As reported by the Troubled Company Reporter on Feb. 8, 2024, Fitch
Ratings has downgraded Vertex Energy Inc.'s (Vertex) and Vertex
Refining Alabama LLC's Long-Term Issuer Default Ratings (IDR) to
'CCC+' from 'B-'. Fitch has also downgraded the rating of Vertex
Refining Alabama's senior secured term loan to 'B-'/'RR3' from
'B'/'RR3'.
The downgrade reflects Vertex's weaker liquidity buffer amid lower
U.S. Gulf Coast refining crack spreads and weak Fitch-expected
contribution from renewable diesel segment in 2024. The company's
FCF generation is highly sensitive to refining crack spreads that
declined in 4Q23 from abnormally high 2022-2023 levels. Its
unrestricted cash balance fell from $141 million at YE 2022 to
around $70-80 million at YE 2023. Fitch projects negative EBITDA
and FCF for Vertex in 2024 based on the assumptions of continued
crack spread normalization and weak renewable diesel
profitability.
On June 2024, &P Global Ratings lowered its issuer credit rating
(ICR) on Vertex Energy Inc. (Vertex) to 'CCC' from 'B-' and its
issue-level rating on the company's term loan B (TLB) to 'CCC' from
'B'. At the same time, S&P Global Ratings removed the ratings from
CreditWatch, where they were placed with negative implications on
March 15, 2024. In addition, S&P revised its assessment of the
company's liquidity position to weak from less than adequate. S&P
also revised its recovery rating on the TLB to '3' from '2',
indicating its expectation for meaningful (50%-70%; rounded
estimate: 60%) recovery.
The negative outlook reflects the elevated risk of a default
scenario given the lack of sufficient liquidity sources to fully
repay the TLB or a concrete refinancing plan.
VPR LLC: Seeks to Hire Cox Law Group as Bankruptcy Counsel
----------------------------------------------------------
VPR, LLC seeks approval from the U.S. Bankruptcy Court for the
Western District of Virginia to hire Cox Law Group PLLC as
attorneys.
The firm will render these services:
(a) advise the Debtor regarding its powers and duties in the
continued management and operation of the assets of its respective
estates;
(b) advise and consult on the conduct of the case;
(c) attend meetings and negotiate with representatives of the
Debtor's creditors and other parties in interest;
(d) take all necessary action to protect and preserve the
Debtor's estates;
(e) prepare legal papers;
(f) advise the Debtor in connection with any potential sale of
assets;
(g) appear before the court to represent the interests of the
Debtor's estate before the court;
(h) take any necessary action on behalf of the Debtor to
negotiate, prepare on behalf of the Debtor, and obtain approval of
Chapter 11 plan and documents related thereto; and
(i) perform all other necessary or otherwise beneficial legal
services to the Debtor in connection with prosecution of this
case.
The hourly rates of the firm's attorneys and staff are as follows:
H. David Cox $400
Other Attorneys $300
Paralegals $100
In addition, the firm will seek reimbursement for expenses
incurred.
H. David Cox, Esq., a member at Cox Law Group, disclosed in a court
filing that the firm is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
H. David Cox, Esq.
Cox Law Group, PLLC
900 Lakeside Drive
Lynchburg, VA 24501
Telephone: (434) 845-2600
Facsimile: (434) 845-0727
Email: David@coxlawgroup.com
About VPR LLC
VPR LLC is a locally owned and operated roofing company
specializing in replacing, and installing various types of roofs
using Certified and Licensed Labor. Roofing options include but are
not limited to, Standing Seam Metal, Shingles, Copper, Synthetic
Slate, Natural Slate, Cedar Shakes, Gutter and EPDM/TPO.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Va. Case No. 24-50315) on June 10,
2024. In the petition signed by Joseph A. Eshelman, manager, the
Debtor disclosed up to $500,000 in assets and up to $10 million in
liabilities.
David Cox, Esq., at COX LAW GROUP, represents the Debtor as legal
counsel.
WESTCLIFF INVESTORS: Case Summary & 13 Unsecured Creditors
----------------------------------------------------------
Debtor: Westcliff Investors, LLC
825 S. Barrington Avenue
Los Angeles, CA 90049
Business Description: The Debtor owns and operates the Vineyard
Court Designer Suites Hotel located at 1500
George Bush Drive, East College Station, TX
77840.
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Central District of California
Case No.: 24-15224
Judge: Hon. Julia W Brand
Debtor's Counsel: Gary E. Klausner, Esq.
LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
2818 La Cienega Ave.
Los Angeles, CA 90034
Tel: (310) 229-1234
Email: GEK@LNBYG.Com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Logan A. Beitler, manager.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 13 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/XZ2GMLQ/Westcliff_Investors_LLC__cacbke-24-15224__0001.0.pdf?mcid=tGE4TAMA
WESTERN RISE: Joli Lofstedt Named Subchapter V Trustee
------------------------------------------------------
The U.S. Trustee for Region 11 appointed Joli Lofstedt, Esq., as
Subchapter V trustee for Western Rise, Inc.
Ms. Lofstedt, a practicing attorney in Louisville, Colo., will be
paid an hourly fee of $375 for her services as Subchapter V trustee
and will be reimbursed for work-related expenses incurred.
Ms. Lofstedt declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Joli A. Lofstedt, Esq.
P.O. Box 270561
Louisville, CO 80027
Phone: (303) 476-6915
Fax: (303) 604-2964
Email: joli@jaltrustee.com
About Western Rise
Western Rise, Inc. is a manufacturer of travel clothing and
accessories in Telluride, Colo.
Western Rise filed its voluntary petition for Chapter 11 protection
(Bankr. D. Colo. Case No. 24-13394) on June 19, 2024, with
$3,401,871 in assets and $5,266,556 in liabilities. Kelly Watters,
president, signed the petition.
Judge Joseph G. Rosania Jr. oversees the case.
Kutner Brinen Dickey Riley, PC serves as the Debtor's legal
counsel.
YATES PROPERTIES: Case Summary & One Unsecured Creditor
-------------------------------------------------------
Debtor: Yates Properties, Renovations & Management, LLC
6615 Greenbower Lane
College Park, GA 30349
Chapter 11 Petition Date: July 1, 2024
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 24-56872
Debtor's Counsel: Leslie Pineyro, Esq.
JONES & WALDEN LLC
699 Piedmont Avenue NE
Atlanta, GA 30308
Tel: 404-564-9300
Email: info@joneswalden.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Paul Yates, III, sole member.
The Debtor listed Tanya R. Sedgewirk-Yates located at 6615
Greenbower Lane, College Park, GA 30349 as its sole unsecured
creditor holding a claim of $20,000.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/YRPIA5A/Yates_Properties_Renovations___ganbke-24-56872__0001.0.pdf?mcid=tGE4TAMA
ZAC PRUETT: Seeks to Hire Henderson Appraisals as Appraiser
-----------------------------------------------------------
Zac Pruett Inc. seeks approval from the U.S. Bankruptcy Court for
the Central District of Illinois to hire Lindsy Henderson and the
firm of Henderson Appraisals, Inc. as appraiser.
The Debtor seeks to hire an appraiser for preparing an appraisal of
the real estate located at 27857 380th Street, Pittsfield, IL 62363
and 110 N. Industrial Drive, Pittsfield, IL 62363 in this case.
Henderson will be paid a flat rate of $1,200 for the income
property (110 N. Industrial Drive, Pittsfield) and the flat rate of
$800 for the shop property (27857 380th Street, Pittsfield).
As disclosed in the court filings, Henderson does not hold or
represent an interest adverse to the bankruptcy estate.
The firm can be reached through:
Lindsy Henderson
Henderson Appraisals, Inc.
21726 340th St.
Pittsfield, IL 62363
Phone: (217) 285-4080
About Zac Pruett Inc.
Zac Pruett Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Ill. Case No. 24-70282) on April 19,
2024. In the petition signed by Zachery K. Pruett, president, the
Debtor disclosed up to $10 million in both assets and liabilities.
Jeana K. Reinbold, Esq., at Sgro, Hanrahan, Durr, Rabin & Reinbold,
LLP, represents the Debtor as legal counsel.
ZACHRY HOLDINGS: Hires Ernst & Young as Tax Services Provider
-------------------------------------------------------------
Zachry Holdings, Inc. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Ernst & Young LLP as audit and tax services provider.
The firm's services include:
a. Audit Services
i. Conduct an audit of the Debtors' consolidated financial
statements for the financial year ending December 31, 2023, in
accordance with the standards of the Public Company Accounting
Oversight Board (the "PCAOB") (the
"Core Audit Services");
ii. Conduct other services in connection with the Audit
Services, including incremental audit effort and other
audit-related services such as research and/or accounting
consultation with management related to matters such as impairment
of goodwill, impairment of other intangible assets and long-lived
assets, evaluation of debt accounting and disclosures, litigation,
and other contingencies (the "Additional Audit Services"). The
performance of Additional Audit Services may also result from
unanticipated changes in the scope of the Core Audit Services or
the inability of the Debtors to provide the expected support and
assistance contemplated when determining the fees for the Core
Audit Services; and
iii. Conduct an audit of the financial statements, related
notes, and supplemental schedules of Debtor Zachry Holdings, Inc.'s
401(k) (the "Benefit Plan Audit").
b. Tax Services
i. Advise on the federal and state and local income and
indirect tax implications of the restructuring in connection with
the bankruptcy;
ii. Provide services that may include tax analysis of plan of
transaction-related documents (such as plan of reorganization and
disclosure schedules), transaction alternative modelling and
supporting tax structuring advice, tax attribute planning and
analysis and related computations (e.g., analysis of cancellation
of indebtedness income, tax basis, earnings and profits, Section
382, unified loss rule), transaction cost analysis, cash tax
modeling, tax advice regarding settlement of intercompany debt;
iii. Advise with determining the validity and amount of
bankruptcy tax claims or assessments;
iv. Provide tax opinions or technical memorandums (as
requested); and
v. Provide routine on call tax advisory services ("ROCA").
The firm will be paid as follows:
a. Audit Services
i. EY LLP estimates that the fees for the Core Audit Services
will be $627,570. EY LLP has already billed, and the Debtors have
already paid, $503,250 for the Core Audit Services.
ii. EY LLP estimates that the fees for the Benefit Plan Audit
will amount to $26,000.
iii. Under the Engagement Letters, the Debtors shall pay fees
for the Additional Audit Services based on the time that EY LLP
professionals spend performing them, as adjusted annually on July
1, while the services under the related Engagement Letters are
being performed. The hourly rates, by level of professional, for
the Additional Audit Service are as follows:
Audit, Tax, IT, and Valuation Professional Hourly Rate
Partner, Principal, or Executive Director $995
Senior Manager $595
Manager $375
Senior Staff $275
Staff $175
b. Tax Services:
Partner/Principal $1,250 per hour
Managing Director $1,150 per hour
Senior Manager $950 per hour
Manager $850 per hour
Senior $600 per hour
Staff $400 per hour
c. ROCA Services
Partner/Principal $1,250 per hour
Managing Director $1,150 per hour
Senior Manager $950 per hour
Manager $850 per hour
Senior $600 per hour
Staff $400 per hour
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
Trey Tschirhart, a partner of EY LLP, disclosed in a court filing
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Trey Tschirhart
EY LLP
111 W. Houston Street, Suite 1901
San Antonio, TX 78205
Tel: (210) 228-9696
Fax: (210) 242-7252
About Zachry Holdings, Inc.
Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company one
hundred years ago. The other offshoot, Zachry Construction, has
operated separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008. None of the entities
affiliated with Zachry Construction are Debtors in these chapter 11
cases. The Zachry Group provides engineering and construction
services to clients in the energy, chemicals, power, manufacturing,
and industrial sectors across North America.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90377) on May
21, 2024, with $1 billion to $10 billion in assets and liabilities.
James R. Old, general counsel, signed the petitions.
Judge Marvin Isgur presides over the case.
The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.
ZACHRY HOLDINGS: Hires Troutman Pepper as Special Counsel
---------------------------------------------------------
Zachry Holdings, Inc. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Troutman Pepper Hamilton Sanders, LLP as special counsel.
The firm's services include:
a. providing general contract counselling and advice, including
contract review, drafting, and negotiations; and
b. proving advice and counseling, including drafting and
negotiations of contract-related agreements, on matters related to
the Golden Pass LNG Export Project.
The firm will be paid at these rates:
David Mancini $695 per hour
Tricia Brauer $605 per hour
Alana Sliwinski $595 per hour
Jason Spang $595 per hour
Faith Simms $525 per hour
Chelsea Merritt $525 per hour
Liz Briones $475 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
In addition, the firm will seek reimbursement for its out-of-pocket
expenses.
David Mancini, Esq., a partner at Troutman Pepper Hamilton Sanders,
LLP, disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
David Mancini, Esq.
Troutman Pepper Hamilton Sanders, LLP
401 9th Street, N.W., Suite 1000
Washington, D.C. 20004
Tel: (202) 274-2840
Email: david.mancini@troutman.com
About Zachry Holdings, Inc.
Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company one
hundred years ago. The other offshoot, Zachry Construction, has
operated separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008. None of the entities
affiliated with Zachry Construction are Debtors in these chapter 11
cases. The Zachry Group provides engineering and construction
services to clients in the energy, chemicals, power, manufacturing,
and industrial sectors across North America.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90377) on May
21, 2024, with $1 billion to $10 billion in assets and liabilities.
James R. Old, general counsel, signed the petitions.
Judge Marvin Isgur presides over the case.
The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.
ZACHRY HOLDINGS: UCC Taps Gray Reed as Co-Counsel
-------------------------------------------------
The statutory unsecured claimholders' committee of Zachry Holdings,
Inc. and its affiliates seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire Gray Reed as its
co-counsel.
The firm's services include:
(a) advising the UCC in connection with its powers and duties
under the Bankruptcy Code, the Bankruptcy Rules, and the Bankruptcy
Local Rules;
(b) assisting and advising the UCC in its consultation with
the Debtors relative to the administration of these Chapter 11
cases;
(c) attending meetings and negotiating with the
representatives of the Debtors and other parties-in-interest;
(d) assisting and advising the UCC in its examination and
analysis of the conduct of the Debtors' affairs;
(e) assisting and advising the UCC in connection with any sale
of the Debtors' assets pursuant to section 363 of the Bankruptcy
Code;
(f) assisting the UCC in the review, analysis, and negotiation
of any Chapter 11 plan(s) of reorganization or liquidation that may
be filed and assisting the UCC in the review, analysis, and
negotiation of the disclosure statement accompanying any such
plan(s);
(g) taking all necessary actions to protect and preserve the
interests of the UCC, including: (i) possible prosecution of
actions on its behalf; (ii) if appropriate, negotiations concerning
all litigation in which the Debtors are involved; and (iii) if
appropriate, review and analysis of claims filed against the
Debtors' estates;
(h) generally preparing on behalf of the UCC all necessary
motions, applications, answers, orders, reports, replies,
responses, and papers in support of positions taken by the UCC;
(i) appearing, as appropriate, before this Court, the
appellate courts, and the U.S. Trustee, and protecting the
interests of the UCC before those courts and before the U.S.
Trustee; and
(j) performing all other necessary legal services in these
Chapter 11 cases.
Gray Reed's current customary hourly rates generally range from
$390 to $985 per hour for attorneys and $100 to $370 per hour for
paraprofessionals.
The firm will be paid at these rates:
Jason S. Brookner, Partner $985 per hour
Amber M. Carson, Partner $710 per hour
Emily F. Shanks, Associate $550 per hour
Veronica Salazar, Paralegal $370 per hour
Paul Savoy, Paralegal $325 per hour
The following is provided in response to the request for additional
information set forth in paragraph D.1 of the UST Guidelines:
Question: Did the Firm agree to any variations from, or
alternatives to, the Firm's standard billing arrangements for this
engagement?
Answer: No. Gray Reed did not agree to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement.
Question: Do any of the Firm professionals included in this
engagement vary their rate based on the geographical location of
the Debtors' Chapter 11 cases?
Answer: No rate for any of the professionals included in this
engagement varies based on the geographic location of the
bankruptcy case.
Question: If the Firm has represented the client in the 12
months prepetition, disclose the Firm's billing rates and material
financial terms for the prepetition engagement, including any
adjustments during the 12 months prepetition.
Answer: Gray Reed did not represent the UCC prior to its
retention by the UCC.
Question: Has your client approved the Firm's budget and
staffing plan, and if so, for what budget period?
Answer: Gray Reed expects to develop a prospective budget and
staffing plan to reasonably comply with the U.S. Trustee's request
for information and additional disclosures, to which Gray Reed
reserves all rights.
Jason S. Brookner, Esq., a partner at Gray Reed, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Jason S. Brookner, Esq.
Aaron M. Kaufman, Esq.
Lydia R. Webb, Esq.
GRAY REED
1601 Elm Street, Suite 4600
Dallas, TX 75201
Tel: (214) 954-4135
Fax: (214) 953-1332
Email: jbrookner@grayreed.com
akaufman@grayreed.com
lwebb@grayreed.com
About Zachry Holdings
Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company one
hundred years ago. The other offshoot, Zachry Construction, has
operated separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008. None of the entities
affiliated with Zachry Construction are Debtors in these Chapter 11
cases. The Zachry Group provides engineering and construction
services to clients in the energy, chemicals, power, manufacturing,
and industrial sectors across North America.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90377) on May
21, 2024, with $1 billion to $10 billion in assets and liabilities.
James R. Old, general counsel, signed the petitions.
Judge Marvin Isgur presides over the case.
The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.
ZACHRY HOLDINGS: UCC Taps Proskauer Rose LLP as Counsel
-------------------------------------------------------
The statutory unsecured claimholders' committee of Zachry Holdings,
Inc. and its affiliates seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire Proskauer Rose LLP
as its counsel.
The firm's services include:
(a) advising the Committee in connection with its powers and
duties under the Bankruptcy Code, the Bankruptcy Rules, and the
Bankruptcy Local Rules;
(b) assisting and advising the Committee in its consultation
with the Debtors relative to the administration of these Chapter 11
cases;
(c) attending meetings and negotiating with the
representatives of the Debtors and other parties-in-interest;
(d) assisting and advising the Committee in its examination
and analysis of the conduct of the Debtors' affairs;
(e) assisting and advising the Committee in connection with
any sale of the Debtors' assets pursuant to section 363 of the
Bankruptcy Code;
(f) assisting the Committee in the review, analysis, and
negotiation of any Chapter 11 plan(s) of reorganization or
liquidation that may be filed and assisting the Committee in the
review, analysis, and negotiation of the disclosure statement
accompanying any such plan(s);
(g) taking all necessary actions to protect and preserve the
interests of the Committee, including:
(i) possible prosecution of actions on its behalf; (ii) if
appropriate, negotiations concerning all litigation in which the
Debtors are involved; and (iii) if appropriate, review and analysis
of claims filed against the Debtors' estates;
(h) generally preparing on behalf of the Committee all
necessary motions, applications, answers, orders, reports, replies,
responses, and papers in support of positions taken by the
Committee;
(i) participating in mediation and representing the interests
of general unsecured claimholders in adversary proceedings;
(j) appearing, as appropriate, before this Court, the
appellate courts, and the U.S. Trustee, and protecting the
interests of the Committee before those courts and before the U.S.
Trustee; and
(k) performing all other necessary legal services in these
Chapter 11 cases.
The firm will be paid at these rates:
Partners $1,535 to $2,050 per hour
Associates $1,090 to $1,415 per hour
Paraprofessionals $320 to $375 per hour
Proskauer Rose will also be reimbursed for reasonable out-of-pocket
expenses incurred.
The following is provided in response to the request for additional
information set forth in paragraph D.1 of the Guidelines for
Reviewing Applications for Compensation and Reimbursement of
Expenses Filed Under 11 U.S.C. Sec. 330 by Attorneys in Larger
Chapter 11 Cases Effective as of Nov. 1, 2013:
Question: Did the Firm agree to any variations from, or
alternatives to, the Firm's standard billing arrangements for this
engagement?
Answer: No. Proskauer did not agree to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement.
Question: Do any of the Firm professionals included in this
engagement vary their rate based on the geographical location of
the Debtors' chapter 11 cases?
Answer: No rate for any of the professionals included in this
engagement varies based on the geographic location of the
bankruptcy case.
Question: If the Firm has represented the client in the 12
months prepetition, disclose the Firm's billing rates and material
financial terms for the prepetition engagement, including any
adjustments during the 12 months prepetition.
Answer: Proskauer did not represent any member of the Committee
in the Debtors' chapter 11 cases prior to its retention by the
Committee.
Question: Has your client approved the Firm's budget and
staffing plan, and if so, for what budget period?
Answer: Proskauer expects to develop a prospective budget and
staffing plan to reasonably comply with the U.S. Trustee's request
for information and additional disclosures, to which Proskauer
reserves all rights.
Ehud Barak, partner of Proskauer Rose LLP, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.
Proskauer Rose can be reached at:
Ehud Barak, Esq.
PROSKAUER ROSE LLP
Eleven Times Square
New York, NY 10036
Telephone: (212) 969-3000
Facsimile: (212) 969-2900
Email: ebarak@proskauer.com
About Zachry Holdings
Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company one
hundred years ago. The other offshoot, Zachry Construction, has
operated separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008. None of the entities
affiliated with Zachry Construction are Debtors in these Chapter 11
cases. The Zachry Group provides engineering and construction
services to clients in the energy, chemicals, power, manufacturing,
and industrial sectors across North America.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90377) on May
21, 2024, with $1 billion to $10 billion in assets and liabilities.
James R. Old, general counsel, signed the petitions.
Judge Marvin Isgur presides over the case.
The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.
ZARA LLC: Hires Richard B. Rosenblatt PC as Bankruptcy Counsel
--------------------------------------------------------------
Zara, LLC seeks approval from the U.S. Bankruptcy Court for the
District of Maryland to employ The Law Offices of Richard B.
Rosenblatt, PC. as bankruptcy counsel.
The firm will render these services:
(a) advise the Debtor with respect to its powers and duties;
(b) prepare legal papers;
(c) prepare a disclosure statement and plan of reorganization;
and
(d) perform all other legal services for the Debtor which may
be necessary herein.
The firm will be paid as follows:
Richard B. Rosenblatt, Attorney $400 per hour
Linda M. Dorney, Attorney $400 per hour
Other Attorneys $350 per hour
Paralegals $200 per hour
The Debtor received from the Debtor a retainer of $3,000.
Mr. Rosenblatt disclosed in a court filing that the firm is a
"disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Richard B. Rosenblatt, Esq.
The Law Offices of Richard B. Rosenblatt, PC.
30 Courthouse Square, Suite 302
Rockville, MD 20850
Tel: (301) 838-0098
Email: rrosenblatt@rosenblattlaw.com
About Zara, LLC
Zara, LLC in Rockville, MD, filed its voluntary petition for
Chapter 11 protection (Bankr. D. Md. Case No. 24-15208) on June 20,
2024, listing as much as $1 million to $10 million in both assets
and liabilities. Ruby Mir as managing member, signed the petition.
Judge Lori S. Simpson oversees the case.
LAW OFFICES OF RICHARD B. ROSENBLATT, PC serve as the Debtor's
legal counsel.
[*] Manatt Adds Two New Partners to Financial Services Teams
------------------------------------------------------------
Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated
professional services firm, on July 2, announced the arrival of
Financial Services Partners Troy Zander and Warren Biro to the
Firm's San Diego and Los Angeles offices, respectively. Zander and
Biro's clients span financial institutions, private equity firms
and other institutional lenders across the entire venture debt,
private credit and commercial lending spaces and within the
technology, fintech and life sciences sectors, specifically.
"We could not be more excited to welcome Troy and Warren as we
continue expanding our financial services, life sciences, corporate
and digital and technology capabilities across the country as well
as our Los Angeles and growing San Diego offices locally," said
Manatt CEO and Managing Partner Donna L. Wilson. "They are leading
practitioners in venture debt and within the key sectors in which
we focus, so will thrive as they connect with and collaborate
across our teams in areas including financial services, emerging
company, venture capital, health care, entertainment, and digital
and technology."
Zander represents companies, lenders and related stakeholders in
documenting their technology, life sciences and middle-market
financing transactions, including traditional commercial leveraged
debt financings, venture debt financings and bridge loans. He has
background working with companies, secured and unsecured creditors,
committees, trustees and asset purchasers in bankruptcy and
out-of-court proceedings and supporting clients and lenders in
forbearances, loan modifications and restructurings, work-outs and
asset acquisitions and dispositions. Zander also has deep
experience with asset-based and cash-flow lending transactions,
from single-lender and single-borrower facilities to complex,
global multi-tranche and onshore/offshore syndications.
Biro's practice focuses on representing clients in a variety of
commercial lending and financing transactions, including
asset-based and cash flow credit facilities, venture debt
financings and leveraged acquisitions. He offers guidance to key
stakeholders--including investment banks, commercial banks and
other sources of debt capital--in the technology, life sciences and
fintech space. He has also represented agents, lenders,
participants and companies in numerous credit facilities and works
with lenders and production companies in the entertainment industry
on their television, digital media and film-related financings.
"Venture debt and commercial lending requires a uniquely deep
understanding of the interplay between innovation and financial
services, which Troy and Warren bring to the Firm through their
unmatched experience helping banks and other lenders navigate the
legal, business and regulatory aspects of these complex deals,"
said Financial Services Leader Craig Miller. "Their arrival is also
the latest example of our continued growth across all corners of
our Financial Services group, as recently seen with the arrival of
Mike Katz to our fintech team led by Partner Brian Korn, and
Jessica Sklute to our Consumer Financial Services practice led by
Partner Scott Pearson."
"I have always been drawn to Manatt's unique legal and consulting
model, which brings a business and industry-centric lens to every
piece of client work the Firm handles," said Zander. "I have always
viewed myself as an advisor first to my clients, so am looking
forward to working alongside other lawyers and consultants who
share this philosophy."
"Manatt has an entrepreneurial and collaborative spirit that is
rarely seen in practice at other firms," Biro said. "I am excited
to join a Firm that prioritizes this mindset which brings
tremendous value to our clients."
Biro and Zander join the Firm's expanding roster of recent legal
and consulting professional hires across the Firm's core practices,
including Corporate and Finance (Bill Broome); Digital and
Technology (Tim Andrews and Lisa W. Rosaya); Entertainment (Binta
Niambi Brown); Financial Services (Mike Katz and Jessica Sklute);
Health Care (Heide Bajnrauh, Axel Bernabe, Robert (Rob) Fraiman,
Seth Frazier, Eric Gold, Paul Irving, Dr. Tracy Johnson, Anna
Lansky, John O'Brien, Thomas (Tom) Robertson, Lisa Sbrana and Mark
Wietecha); and Litigation (Schuyler G. Carroll, Dylan Carson, Randy
S. Grossman, Kareem A. Salem and Justin Wolosz).
Zander earned his J.D. from the University of San Diego School of
Law and his B.A. from the University of California San Diego.
Biro earned his J.D. from the UCLA School of Law and his B.A. from
Rutgers University.
About Manatt, Phelps & Phillips, LLP
Manatt, Phelps & Phillips, LLP, is a leading professional services
firm, providing integrated legal and consulting services to a
global client base. With offices strategically located in
California (Los Angeles, Orange County, San Diego, San Francisco,
Sacramento and Silicon Valley), New York (New York City and
Albany), Chicago, Washington, D.C., and Boston, the Firm represents
sophisticated clients--including Fortune 500, middle-market and
emerging companies--across a range of industry sectors such as
health care; financial services; entertainment; digital and
technology; and energy, environmental and real estate. For more
information, visit www.manatt.com.
[*] SCP Sean Corwen Named Emerging Leader by The M&A Advisor
------------------------------------------------------------
SierraConstellation Partners ("SCP"), an interim management and
advisory firm to middle-market companies in transition, announced
on July 2 that Director Sean Corwen has been honored as an Emerging
Leader by The M&A Advisor as part of the organization's 15th Annual
Emerging Leaders Awards.
Corwen is a Director based in New York, where he implements
financial and operational restructuring strategies for clients
facing bankruptcy or complex turnaround situations. Corwen was
chosen for the award from a pool of prominent nominees for his
notable accomplishments in business and in service to the
community. The evaluation of the nominees and selection of the
winners was completed by an independent judging panel.
"Sean's contributions to SCP have been invaluable and I am thrilled
that he is being recognized as an emerging leader in the industry
by The M&A Advisor," said Larry Perkins, Founder and CEO of SCP.
"Sean's experience managing the chapter 11 process and knack for
providing analytical support to clients in complex situations have
been a tremendous force in growing out our presence on the east
coast. On behalf of everyone at SCP, I would like to congratulate
Sean on this tremendous accomplishment and look forward to his
continued growth in the years to come."
The M&A Advisor, a globally renowned organization known for
recognizing and showcasing leading M&A, financing, and turnaround
professionals, established this awards program to honor excellence
and foster mentorship and professional development among emerging
leaders in the corporate finance and dealmaking industries.
"The world of dealmaking is always changing, and, over the past 15
years, The M&A Advisor has recognized the brilliance of over
fifteen hundred professionals--experts who set the bar high in
their fields. The Emerging Leader Award recipients, who have the
spirit of innovation and ambition, are ready to shape the future of
our industry. By creating a network of business visionaries,
philanthropists, educators, and personal growth mentors, we are
building a vibrant 'leadership community.' Our mission is clear: to
give these rising stars the tools and motivation to not only
succeed in their careers but also to make a positive difference in
the lives of others, thus sparking a wave of transformation," said
Roger Aguinaldo, Founder and CEO of The M&A Advisor.
The M&A Advisor will welcome the winners of the Emerging Leaders
Award at a formal black-tie Awards Gala in New York City. This
distinguished event will present them to the business community and
recognize their outstanding accomplishments. The Emerging Leaders
Awards Gala is part of the 2024 Leadership in Dealmaking Summit on
September 23-24, 2024. This unique event connects current and
former recipients of the Emerging Leaders Award with each other and
industry leaders.
ABOUT SIERRACONSTELLATION PARTNERS LLC
SierraConstellation Partners LLC (SCP) is an interim management and
advisory firm headquartered in Los Angeles and has a presence in
Boston, Chicago, Dallas, Florida, New York, and Seattle. SCP serves
middle-market companies and their partners and investors navigating
their way through difficult business challenges. Its team's
real-world experience, operational mindset, and hands-on approach
enable us to deliver effective operational improvements and
financial solutions to help companies restore value, regain
creditor confidence, and capitalize on opportunities.
As former CEOs, COOs, CFOs, private equity investors, and
investment bankers, SCP's team of senior professionals has decades
of experience operating and advising companies. For more
information, please visit www.sierraconstellation.com.
ABOUT THE M&A ADVISOR
Established in 1998, The M&A Advisor offers expertise and knowledge
on mergers and acquisitions. It is known as the leading global
organization for experts in M&A, restructuring, and corporate
finance, providing a full spectrum of interrelated services. To
learn more, please visit our website maadvisor.com or contact us at
+1 (212) 951-1550.
[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Alcott Enterprises LLC
Bankr. C.D. Cal. Case No. 24-14992
Chapter 11 Petition filed June 25, 2024
See
https://www.pacermonitor.com/view/KYHGOXI/Alcott_Enterprises_LLC__cacbke-24-14992__0001.0.pdf?mcid=tGE4TAMA
represented by: Thomas B. Ure, Esq.
URE LAW FIRM
E-mail: tom@urelawfirm.com
In re PH Properties Group, LLC
Bankr. C.D. Cal. Case No. 24-14978
Chapter 11 Petition filed June 25, 2024
See
https://www.pacermonitor.com/view/2GCCZSQ/PH_Properties_Group_LLC__cacbke-24-14978__0001.0.pdf?mcid=tGE4TAMA
represented by: Leonard Pena, Esq.
PENA & SOMA, APC
E-mail: lpena@penalaw.com
In re Valdor LLC
Bankr. E.D. Cal. Case No. 24-11751
Chapter 11 Petition filed June 25, 2024
See
https://www.pacermonitor.com/view/RV3CMRA/Valdor_LLC__caebke-24-11751__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re James N. Hardwick
Bankr. N.D. Cal. Case No. 24-40945
Chapter 11 Petition filed June 25, 2024
represented by: Marc Voisenat, Esq.
In re Karen L Osborn
Bankr. D. Colo. Case No. 24-13536
Chapter 11 Petition filed June 25, 2024
represented by: Aaron Garber, Esq.
WADSWORTH GARBER WARNER CONRARDY, P.C.
In re J Doss Multi Services Inc
Bankr. M.D. Fla. Case No. 24-03170
Chapter 11 Petition filed July 25, 2024
See
https://www.pacermonitor.com/view/TA7WDPA/J_Doss_Multi_Services_Inc__flmbke-24-03170__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Historic John P. Furber Farm, LLC
Bankr. D. Minn. Case No. 24-31652
Chapter 11 Petition filed June 25, 2024
See
https://www.pacermonitor.com/view/4PZPLZQ/HISTORIC_JOHN_P_FURBER_FARM_LLC__mnbke-24-31652__0001.0.pdf?mcid=tGE4TAMA
represented by: John D. Lamey III, Esq.
LAMEY LAW FIRM, P.A.
E-mail: JLAMEY@LAMEYLAW.COM
In re Jack G. Flautt, III and Maci P. Flautt
Bankr. N.D. Miss. Case No. 24-11830
Chapter 11 Petition filed June 25, 2024
represented by: J. Walter Newman, Esq.
In re Carmen C Valenzuela Degreco
Bankr. E.D.N.Y. Case No. 24-72480
Chapter 11 Petition filed June 25, 2024
In re Brian E. Czapor
Bankr. W.D. Pa. Case No. 24-21553
Chapter 11 Petition filed June 25, 2024
represented by: Donald Calaiaro, Esq.
In re New Midland Farms Inc.
Bankr. D.R.I. Case No. 24-10410
Chapter 11 Petition filed June 25, 2024
See
https://www.pacermonitor.com/view/5MLJR6Y/New_Midland_Farms_Inc__ribke-24-10410__0001.0.pdf?mcid=tGE4TAMA
represented by: Melissa L. Curley, Esq.
CURLEY LAW ASSOCIATES, LLC
E-mail: mcurley@curleylawllc.com
In re Sarah B. Riehl
Bankr. E.D. Tex. Case No. 24-41481
Chapter 11 Petition filed June 25, 2024
represented by: John Stanford, Esq.
xxxx
In re XTC Holdings, LLC
Bankr. C.D. Cal. Case No. 24-15023
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/PZ4Z2OY/XTC_Holdings_LLC__cacbke-24-15023__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Cox Land Management Family, LLC
Bankr. M.D. Fla. Case No. 24-01806
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/CMXEQQY/Cox_Land_Management_Family_LLC__flmbke-24-01806__0001.0.pdf?mcid=tGE4TAMA
represented by: Bryan K. Mickler, Esq.
LAW OFFICES OF MICKLER & MICKLER, LLP
E-mail: bkmickler@planlaw.com
In re Eroica Enterprises Inc.
Bankr. S.D. Fla. Case No. 24-16358
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/CMJNNGA/Eroica_Enterprises_Inc__flsbke-24-16358__0001.0.pdf?mcid=tGE4TAMA
represented by: Susan D Lasky, Esq.
SUSAN D. LASKY, PA
E-mail: Jessica@SueLasky.com
In re Handover Partners LLC
Bankr. N.D. Ill. Case No. 24-09384
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/CGPTHCY/Handover_Partners_LLC__ilnbke-24-09384__0001.0.pdf?mcid=tGE4TAMA
represented by: Penelope Bach, Esq.
BACH LAW OFFICES
E-mail: pnbach@bachoffices.com
In re Forever Getting Cash LLC
Bankr. D. Nev. Case No. 24-13202
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/C7QNUTY/FOREVER_GETTING_CASH_LLC__nvbke-24-13202__0001.0.pdf?mcid=tGE4TAMA
represented by: Matthew Knepper, Esq.
NEVADA BANKRUPTCY ATTORNEYS, LLC
E-mail:
mknepper@nvbankruptcyattorneys.com
In re William J. Leavitt, Jr.
Bankr. D. Nev. Case No. 24-13197
Chapter 11 Petition filed June 26, 2024
represented by: Timothy P. Thomas, Esq.
In re 65 Phipps Ave, LLC
Bankr. E.D.N.Y. Case No. 24-72512
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/DTWJ7FA/65_Phipps_Ave_LLC__nyebke-24-72512__0001.0.pdf?mcid=tGE4TAMA
represented by: Heath S. Berger, Esq.
BERGER, FISCHOFF, SHUMER, WEXLER &
GOODMAN, LLP
E-mail: hberger@bfslawfirm.com/
gfischoff@bfslawfirm.com
In re Bajan Foods Inc.
Bankr. E.D.N.Y. Case No. 24-42694
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/OYIT32Y/Bajan_Foods_INC__nyebke-24-42694__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re 65 Phipps Ave, LLC
Bankr. E.D.N.Y. Case No. 24-72512
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/DTWJ7FA/65_Phipps_Ave_LLC__nyebke-24-72512__0001.0.pdf?mcid=tGE4TAMA
represented by: Heath S. Berger, Esq.
BERGER, FISCHOFF, SHUMER, WEXLER &
GOODMAN, LLP
E-mail: hberger@bfslawfirm.com/
gfischoff@bfslawfirm.com
In re Hess Embroidery & Uniforms, LLC
Bankr. E.D. Pa. Case No. 24-12194
Chapter 11 Petition filed June 26, 2024
See
https://www.pacermonitor.com/view/67H54ZA/Hess_Embroidery__Uniforms_LLC__paebke-24-12194__0001.0.pdf?mcid=tGE4TAMA
represented by: Larry W. Miller, Jr., Esq.
MILLER LAW GROUP, PLLC
E-mail: lmiller@millerlawgroup.net
In re Raymond Thomas Oechsle, Sr.
Bankr. E.D. Pa. Case No. 24-12195
Chapter 11 Petition filed June 26, 2024
represented by: Christine W., Esq.
In re Graxcell Pharmaceutical LLC
Bankr. D.N.J. Case No. 24-16498
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/NWTOXII/Graxcell_Pharmaceutical_LLC__njbke-24-16498__0001.0.pdf?mcid=tGE4TAMA
represented by: Roger C. Mattson, Esq.
ROGER C. MATTSON
E-mail: rogermattson1@yahoo.com
In re NY 182 Realty, LLC
Bankr. E.D.N.Y. Case No. 24-42709
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/6JIWKEI/NY_182_REALTY_LLC__nyebke-24-42709__0001.0.pdf?mcid=tGE4TAMA
represented by: Narissa A. Joseph, Esq.
LAW OFFICE OF NARISSA A. JOSEPH
E-mail: njosephlaw@aol.com
In re Zephaniah31320 Inc.
Bankr. E.D.N.Y. Case No. 24-42702
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/YKLO3BQ/Zephaniah31320_Inc__nyebke-24-42702__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Enduro Properties Investment Company, Inc.
Bankr. W.D. Tenn. Case No. 24-23074
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/GPW7MDA/Enduro_Properties_Investment_Company__tnwbke-24-23074__0001.0.pdf?mcid=tGE4TAMA
represented by: Bo Luxman, Esq.
LUXMAN LAW FIRM
E-mail: Bo@luxmanlaw.com
In re Chia-Hung Chu
Bankr. S.D.N.Y. Case No. 24-22574
Chapter 11 Petition filed June 27, 2024
represented by: Anne Penachio, Esq.
PENACHIO MALARA LLP
In re Home Marketing Services, Inc.
Bankr. N.D. Tex. Case No. 24-31865
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/4ZQGYSY/Home_Marketing_Services_Inc__txnbke-24-31865__0001.0.pdf?mcid=tGE4TAMA
represented by: Robert T DeMarco, Esq.
DEMARCO MITCHELL, PLLC
E-mail: robert@demarcomitchell.com
In re 360 Global Warehousing and Distribution LLC
Bankr. C.D. Calif. Case No. 24-15084
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/2YOKATQ/360_Global_Warehousing_and_Distribution__cacbke-24-15084__0001.0.pdf?mcid=tGE4TAMA
represented by: John H. Bauer, Esq.
FINANCIAL RELIEF LEGAL ADVOCATES, INC.
E-mail: johnbhud@aol.com
In re Daniel Paul Wickham
Bankr. D. Ariz. Case No. 24-05206
Chapter 11 Petition filed June 27, 2024
represented by: Thomas H. Allen, Esq.
ALLEN, JONES & GILES, PLC
In re Edita Manoukian
Bankr. C.D. Cal. Case No. 24-11063
Chapter 11 Petition filed June 28, 2024
In re Ismoil Kasimov
Bankr. E.D. Cal. Case No. 24-22846
Chapter 11 Petition filed June 28, 2024
represented by: Foyil David, Esq.
In re Vera Holdings, LLC
Bankr. E.D. Cal. Case No. 24-22817
Chapter 11 Petition filed June 27, 2024
See
https://www.pacermonitor.com/view/UBXK3QA/Vera_Holdings_LLC__caebke-24-22817__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re APMI Group, Inc.
Bankr. D. Md. Case No. 24-15489
Chapter 11 Petition filed June 28, 2024
See
https://www.pacermonitor.com/view/UYGNIQA/APMI_Group_Inc__mdbke-24-15489__0001.0.pdf?mcid=tGE4TAMA
represented by: Charles E Walton, Esq.
WALTON LAW GROUP
E-mail: cwalton@cwaltonlaw.com
In re Enterprise Development Group
Bankr. N.D. Ga. Case No. 24-56743
Chapter 11 Petition filed June 28, 2024
See
https://www.pacermonitor.com/view/3U5G74I/Enterprise_Developement_Group__ganbke-24-56743__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Marcus Patrelle Speed, Sr
Bankr. N.D. Tex. Case No. 24-31880
Chapter 11 Petition filed June 28, 2024
represented by: Chris Tello, Esq.
In re William-Walton, Inc.
Bankr. S.D. W. Va. Case No. 24-50049
Chapter 11 Petition filed June 28, 2024
See
https://www.pacermonitor.com/view/DW4U4JI/William-Walton_Inc__wvsbke-24-50049__0001.0.pdf?mcid=tGE4TAMA
represented by: Paul W. Roop, II, Esq.
ROOP LAW OFFICE, LC
E-mail: bankruptcy@rooplawoffice.com
In re JW's at the Mallard LLC
Bankr. E.D. Ark. Case No. 24-12156
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/PO7LIOY/JWs_at_the_Mallard_LLC__arebke-24-12156__0001.0.pdf?mcid=tGE4TAMA
represented by: William F Godbold IV, Esq.
NATURAL STATE LAW PLLC
E-mail: william.godbold@natstatelaw.com
In re Smith Food Market, Inc.
Bankr. S.D. Fla. Case No. 24-16628
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/SRRC4VA/Smith_Food_Market_Inc__flsbke-24-16628__0001.0.pdf?mcid=tGE4TAMA
represented by: Jeffrey M. Siskind, Esq.
SISKIND, PLLC
E-mail: jeffsiskind@msn.com
In re Future Mortgage and Investment LLC
Bankr. N.D. Ga. Case No. 24-56811
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/HPA6A7Y/Future_Mortgage_and_Investment__ganbke-24-56811__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Bellwether, Inc.
Bankr. N.D. Ga. Case No. 24-56852
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/AMFP6EA/Bellwether_Inc__ganbke-24-56852__0001.0.pdf?mcid=tGE4TAMA
represented by: Joseph Brannen, Esq.
THE BRANNEN FIRM, LLC
E-mail: chad@brannenlawfirm.com
In re Pak I, LLC
Bankr. E.D. Mich. Case No. 24-46435
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/4JRAANY/Pak_I_LLC__miebke-24-46435__0001.0.pdf?mcid=tGE4TAMA
represented by: Stuart Sandweis, Esq.
METRO DETROIT BANKUPTCY LAW GROUP
E-mail: stuart@4lsg.com
In re Alamance Country Emporium, LLC
Bankr. E.D.N.C. Case No. 24-02200
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/ZNIDE5I/Alamance_Country_Emporium_LLC__ncebke-24-02200__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Country CMNS LLC
Bankr. D. Ore. Case No. 24-31846
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/EUPLFBA/Country_Cmns_LLC__orbke-24-31846__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Love and Basketball Inc.
Bankr. E.D. Tex. Case No. 24-41567
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/C3F6GXQ/Love_and_Basketball_Inc__txebke-24-41567__0001.0.pdf?mcid=tGE4TAMA
represented by: Robert DeMarco, Esq.
DEMARCO MITCHELL, PLLC
In re Tommy W. Wilson
Bankr. W.D.N.C. Case No. 24-10109
Chapter 11 Petition filed July 1, 2024
In re Harold Gibson Polk, Jr.
Bankr. S.D. Tex. Case No. 24-33090
Chapter 11 Petition filed July 1, 2024
Filed Pro Se
In re Realty Reliance Homes LLC
Bankr. E.D. Tex. Case No. 24-41568
Chapter 11 Petition filed July 1, 2024
See
https://www.pacermonitor.com/view/DNSJIQY/Realty_Reliance_Homes_LLC__txebke-24-41568__0001.0.pdf?mcid=tGE4TAMA
represented by: Robert T DeMarco, Esq.
DEMARCO MITCHELL, PLLC
E-mail: robert@demarcomitchell.com
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts. The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and
Peter A. Chapman, Editors.
Copyright 2024. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $975 for 6 months delivered via
e-mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Peter A.
Chapman at 215-945-7000.
*** End of Transmission ***