/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/250407.mbx T R O U B L E D C O M P A N Y R E P O R T E R Monday, April 7, 2025, Vol. 29, No. 96 Headlines 125 MIDWOOD STREET: Unsecureds Will Get 100% in Sale Plan 13 ADAMS STREET: Seeks to Hire Compass as Real Estate as Broker 145 NAVARRO: Seeks to Hire Asel & Associates as Financial Advisor 1847 HOLDINGS: Five Proposals OK'd at Special Meeting 236 WEST E&P: Sec. 341(a) Meeting of Creditors on April 25 23ANDME HOLDING: Hires Alvarez & Marsal as Restructuring Advisor 23ANDME HOLDING: Hires Paul Weiss Rifkind Wharton as Counsel 23ANDME HOLDING: Seeks to Hire Carmody MacDonald as Co-Counsel 23ANDME HOLDING: Seeks to Hire Goodwin Procter as Special Counsel 23ANDME HOLDING: Seeks to Tap Lewis Rice as Special Local Counsel 23ANDME HOLDING: Seeks to Tap Moelis & Co. as Investment Banker 23ANDME HOLDING: Zentree Holds 10% of Class A Common Shares 301 W NORTH AVENUE: Case Summary & 20 Largest Unsecured Creditors 3101 SAGE RD: Seeks Chapter 11 Bankruptcy in Texas 8787 RICCHI: Seeks Chapter 11 Bankruptcy in Texas 92 RYERSON STREET: Case Summary & Four Unsecured Creditors A.B.O.D.E. TREATMENT: Seeks to Hire Neal A. Walker as Accountant A.R.M. BAGELS: Seeks Cash Collateral Access AB INTERNATIONAL: Anyone Pictures Holds 46.7% Stake ACME ASPHALT: Christy Brandon Named Subchapter V Trustee AFH AIR PROS: Gets OK to Hire Kurtzman Carson as Claims Agent AIO US: Hires Covington & Burling as Special Insurance Counsel ALK ASPHALT: Unsecureds be Paid in Full Via Step-Up Annual Payments ALL AMERICAN: To Sell New Port Richey to Dalton Kruse for $1.3MM ALL STAR TRANSPORTATION: Unsecureds to Get 19 Cents on Dollar ALLBANK CORP: Chapter 15 Case Summary ALTRA SERVICE: Unsecured Creditors to Split $9,100 over 3 Years AMERICAN TRADERS: Voluntary Chapter 11 Case Summary AMERIGLASS CONTRACTOR: Files Emergency Bid to Use Cash Collateral ASPIRA WOMEN'S: Celeste Fralick Steps Down as Director AVALON SAI: Section 341(a) Meeting of Creditors on May 7 AVALON SUGAR: Seeks Chapter 11 Bankruptcy in Texas AZZUR GROUP: Creditors Label $61MM DIP Rollup as Excessive AZZUR GROUP: Gets OK to Hire DLA Piper LLP (US) as Counsel AZZUR GROUP: Gets OK to Hire M. Benjamin Jones of Ankura as CRO AZZUR GROUP: Gets OK to Hire Stretto Inc as Administrative Advisor BEXIN REALTY: Court Extends Cash Collateral Access to April 28 BLUE BIOFUELS: Posts $1.4M Loss for 2024, 'Going Concern' Warning BNB BATTERY: Court Extends Cash Collateral Access to June 25 BRECKLING LLC: Voluntary Chapter 11 Case Summary BURGERFI INT'L: CP7 Entities No Longer Hold Shares CAPSTONE COMPANIES: Reports $962K Net Loss in 2024 CARROLLTON GATEWAY: Taps Holmgren Johnson as Special Counsel CATONA CLIMATE: Seeks Chapter 11 Bankruptcy in Delaware CBAK ENERGY: Swings to $9.6 Million Net Income in 2024 CEMTREX INC: To Pay Dividend on Series 1 Preferred Stock in Shares CIMG INC: Signs Cooperation Deal With Huomao Cultural Development CINEMA MANAGEMENT: Trustee Taps Focus Advisory as Financial Advisor CIVILGEO INC: Seeks Subchapter V Bankruptcy in Wisconsin COMPLEX AT PORT: Nat Wasserstein Named Subchapter V Trustee COWAN FITNESS: Gets Interim OK to Use Cash Collateral CUTERA INC: Hires Hunton Andrews Kurth as Bankruptcy Co-Counsel CUTERA INC: Seeks to Hire FTI Consulting as Financial Advisor CUTERA INC: Seeks to Hire Ropes & Gray LLP as Bankruptcy Counsel CUTERA INC: Taps Houlihan Lokey Capital as Financial Advisor CUTERA INC: Works w/ Shareholder on Ch. 11 Release Opt-Out Orders DAAT ESTATES: Seeks Chapter 11 Bankruptcy in Texas DANIMER SCIENTIFIC: Proskauer & Landis Rath Advise DIP Lenders DATAVAULT AI: Teams With NYIAX for AI-Powered Data Monetization DELUXE CORP: S&P Upgrades ICR to 'B' on Improved Cash Flow DERMTECH INC: Seeks to Extend Plan Exclusivity to May 16 DIGITAL GRAPHICS: Amends Unsecureds & Leaf Secured Claim Pay DRAKSIN PROPERTIES: Files Emergency Bid to Use Cash Collateral EARTH SCIENCE: Extends Employment Agreements With CFO, CTO EKSO BIONICS: Investor Exercises Warrants to Purchase 9.8MM Shares ELETSON HOLDINGS: Reed Smith Seeks to Withdraw from Chapter 11 Case ENNIS I-45 11 ACRE: April 11 Deadline Set for Panel Questionnaires ENNIS I-45 11 ACRE: Seeks Chapter 11 Bankruptcy in Texas EQUILATERAL INVESTMENT: Seeks Subchapter V Bankruptcy in Georgia EXTON OPERATING: Gets OK to Use Cash Collateral Until April 30 EYM PIZZA: Seeks to Sell Pizza Business at Auction F21 OPCO: Taps Kurtzman Carson as Claims and Noticing Agent FAIR ANDREEN: Seeks Chapter 11 Bankruptcy in Wisconsin FIGUEROA TELEPHONE: Case Summary & 19 Unsecured Creditors FINANCE OF AMERICA: Bloom Holds 9.49% Stake as of March 17 FIREFLY NEUROSCIENCE: CTO Holds 33,480 Shares, 79,958 Options FLOATUS INC: Gets Interim OK to Use Cash Collateral FLY7 INSTALLATIONS: Paul Driscoll Named Subchapter V Trustee FOX AND BIRD: Seeks to Hire Wegner CPAs LLP as Accountant FRANCHISE GROUP: Lenders Battle for Chapter 11 Case Control GENUINE GENIUS: Case Summary & 20 Largest Unsecured Creditors GIP II: S&P Affirms 'BB-' Issuer Credit Rating, Outlook Stable GLOBAL CONCESSIONS: Case Summary & 20 Largest Unsecured Creditors GOL LINHAS: Amends Plan to Include AerCap Secured Note Claims GOLD FLORA: Enters Receivership, Court Appoints Receiver GULFVIEW AVIATION: Sec. 341(a) Meeting of Creditors on May 7 HARP AND CLOVER: Seeks to Hire Tameria Driskill as Legal Counsel HERITAGE COAL: Seeks Chapter 11 Bankruptcy in Delaware HIGH WIRE: Raises Stockholder Meeting Quorum to 33.33% HISTORIC TIMBER: Court Extends Cash Collateral Access to June 12 HOOTERS OF AMERICA: Gets Approval to Tap $5MM of $40MM DIP Loan HYPERSCALE DATA: Issues $4.19M Convertible Note in Exchange Deal INDEPENDENT PHYSICIAN: Hires Hill Barth & King as Accountant INTEGRITY GENERAL: Furniture & Equipment Sale to Pivo Realty OK'd IVANTI SOFTWARE: LRFC Marks $3M 2L Senior Secured Debt at 42% Off JACKSON HOSPITAL: Committee Taps Sills Cummis & Gross as Co-Counsel JAG PUBLIC: Seeks Subchapter V Bankruptcy in Texas JAZ NCR: Seeks to Extend Plan Exclusivity to June 12 JERMAINE WRX: Seeks Chapter 11 Bankruptcy in Texas JULIA & JAMES: Asiana Owners Contest Receivership Jurisdiction KELLEY CORPORATION: Seeks Subchapter V Bankruptcy in Texas KENYON SHERMAN: Seeks to Hire Jamison B. Taylor as Counsel KOGNITIV US: April 11 Deadline Set for Panel Questionnaires KOGNITIV US: Seeks Chapter 11 Bankruptcy w/ Over $10MM Debt KRT INC: Gets Final OK to Use Cash Collateral KTRV LLC: April 10 Deadline Set for Panel Questionnaires LIBERATED BRANDS: Committee Hires Kelley Drye & Warren as Counsel LIBERATED BRANDS: Committee Taps Cole Schotz as Delaware Co-Counsel LIBERATED BRANDS: Committee Taps FTI Consulting as Advisor LOOK CINEMAS: Seeks to Extend Plan Exclusivity to June 12 LUCAS CONSTRUCTION: Seeks to Hire H3 Consulting Group as CRO LUCKY BUCKS: LRFC Marks $2.5M Subordinated Debt at 81% Off MAINE CRAFT: Gets Interim OK to Use Cash Collateral MANA GROUP: April 11 Deadline Set for Panel Questionnaires MARTIN SELIG: Office Properties Place Into Receivership MASS POWER: James LaMontagne Named Subchapter V Trustee MEIR BERNSTEIN: Voluntary Chapter 11 Case Summary MID-COLORADO INVESTMENT: Seeks Subchapter V Bankruptcy in Colorado MIDWEST MOBILE: Court OKs Medical Imaging Sale to Contract X-Ray MILAN BABY: Seeks to Hire LaMonica Herbst as General Counsel MILLENKAMP CATTLE: Court Extends Cash Collateral Access to June 30 MILWAUKEE FORGE: Enters Receivership, To Continue Operations MIRACLE LEAF: Unsecureds Will Get 100% of Claims over 5 Years MLN US: Hires Ernst & Young LLP as Tax Services Provider MLN US: Hires Paul Weiss Rifkind as Bankruptcy Counsel MLN US: Seeks Approval to Tap Ordinary Course Professionals MLN US: Seeks to Hire FTI Consulting as Financial Advisor MLN US: Seeks to Hire PJT Partners LP as Investment Banker MLN US: Seeks to Hire Porter Hedges as Bankruptcy Counsel MODIVCARE INC: David Mounts Gonzales Reports 2.13M Common Shares MONTFER PROPERTY: Walter Dahl Named Subchapter V Trustee MP OCTOPUS: Seeks to Extend Plan Filing Deadline to May 13 MP OCTOPUS: To Sell MP Big Ben Pizza Biz to Sam Storter MT. PLEASANT REALTY: Seeks Chapter 11 Bankruptcy in Pennsylvania MY CITY BUILDERS: Posts $78,299 Net Loss in Fiscal Q2 NAOUI LLC: Seeks Chapter 11 Bankruptcy in Maryland NATIONAL DEVELOPMENT: Seeks Chapter 11 Bankruptcy in California NATUROMULCH LLC: Seeks Subchapter V Bankruptcy in Texas NETCAPITAL INC: Posts $3 Million Net Loss in Fiscal Q3 NEUEHEALTH INC: Modifies CMS Repayment Agreements for $271.8-Mil. NEXERA MEDICAL: Seeks to Hire B. Riley Advisory as Accountant NIKOLA CORP: Trevor Milton Wants Chapter 11 Subpoena Rejected NORTH MISSISSIPPI: Claims to be Paid From Asset Sale Proceeds NOSTRUM LABORATORIES: To Sell Drug Formulations at Auction NUEVA VISTA: Seeks to Hire SoCal Law Group as Bankruptcy Counsel NURSES FIRST: Court Extends Cash Collateral Access to May 8 NURSES FIRST: Unsecureds to Get Share of Income for 3 Years OCEAN POWER: Reports $6.7 Million Net Loss in Fiscal Q3 OCEAN POWER: Signs LOI for Powerbuoy Deployment ODEBRECHT ENGENHARIA: Seek Court's Chapter 15 Recognition OYSTER LLC: Creditors to Get Proceeds From Liquidation PANTEGO DEVELOPMENT: Seeks Chapter 11 Bankruptcy in Texas PARKLAND CORP: DBRS Confirms 'BB' Issuer Rating, Trend Positive PATHWAY VET: S&P Lowers ICR to 'SD' on Distressed Debt Transaction PB RESTAURANTS: Case Summary & 20 Largest Unsecured Creditors PIZZERIA MANAGEMENT: Seeks Subchapter V Bankruptcy in Ohio PLAZA MARIACHI: Court Extends Cash Collateral Access to April 23 POTTSVILLE OPERATIONS: Seeks to Extend Plan Exclusivity to May 19 PRO-FIT BASKETBALL: Case Summary & 20 Largest Unsecured Creditors PRODIGAL PROTOCOL: Seeks Chapter 11 Bankruptcy in Georgia PUERTO RICO: Dechert LLP Updates List of PREPA Bondholders PUREMEDY INC: Court Extends Cash Collateral Access to July 31 QSR STEEL: Court Extends Access to Cash Collateral Until May 31 R&R TRAILERS: Seeks to Hire CBH Attorneys & Counselors as Attorney REALSYS USA: Section 341(a) Meeting of Creditors on May 28 REBORN COFFEE: Rescinds Bbang Ssaem Share Purchase Deal REKOR SYSTEMS: Reports Prelim Net loss of $61.5MM for 2024 RIDGELINE CAPITAL: Seeks to Hire Totaro & Shanahan as Counsel RITE AID: Considers Second Ch. 11 Filing If It Misses Debt Payments RIVERSIDE COURT: Unsecureds Will Get 9% of Claims over 60 Months ROCKY MOUNTAIN: Brian Quinn Joins Board of Directors ROSSLYN2016 LLC: Seeks Chapter 11 Bankruptcy in Texas RSTZ TRANSPORT: To Sell Trailer to Christopher Gebhardt for $15K SABAL CONSTRUCTION: Michael Markham Named Subchapter V Trustee SABER AUTOMOTIVE: Unsecureds Will Get 18.9% over 36 Months SAIPRASAD LLC: Seeks Subchapter V Bankruptcy in Texas SAN FRANCISCO CARE: Hires Meyers Law Group as Replacement Counsel SAN FRANCISCO CARE: Hires Peterson Watts as Real Estate Counsel SARVER REALTY: Seeks to Hire Newmark Southern Region as Broker SEABIRDS KITCHEN: Seeks to Hire S. E. Cowen Law as Legal Counsel SEBASTIAN HABIB: To Sell 23 Parcels of Land at Public Auction SHAHINAZ SOLIMAN: Seeks Chapter 11 Bankruptcy in California SHENANDOAH MEDICAL: Hires Moecker Auctions as Valuation Experts SINTX TECHNOLOGIES: Reports $11 Million Net Loss in 2024 SNP ENTERPRISES: Hires Robert C. Nisenson as Bankruptcy Counsel SOLAR EXCLUSIVE: Hires Larson & Zirzow as Bankruptcy Counsel SOUTH STREET: LRFC Marks $450,000 Senior Secured Debt at 15% Off SOUTHERN WAY: Property Sale Proceeds to Fund Plan Payments SPICEY PARTNERS: Seeks to Extend Plan Exclusivity to July 14 SPLASHLIGHT HOLDING: Hires Dunning Rievman as Litigation Counsel SPLASHLIGHT HOLDING: Hires Goetz Platzer LLP as Bankruptcy Counsel ST. CHRISTOPHER'S: Secures $9MM Real Estate Bid in Chapter 11 ST. CHRISTOPHERS: To Sell New Windsor Property to 621 Blooming STG DISTRIBUTION: LRFC Marks $741K 1L Secured Debt at 90% Off TANDEM GROUP: Seeks Chapter 11 Bankruptcy in Texas TANNER DEWEESE: Creditors to Get Proceeds From Liquidation TEAM MUV: Hires A-Plus Accounting Services Inc. as Bookkeeper TERRA LAGUNA: Seeks Chapter 11 Bankruptcy in Delaware TINY FROG: Files Emergency Bid to Use Cash Collateral TREESAP FARMS: Hires Armory Securities as Investment Banker TREESAP FARMS: Hires Hunton Andrews Kurth as Bankruptcy Counsel TREESAP FARMS: Seeks to Hire McKool Smith as Bankruptcy Co-Counsel TREESAP FARMS: Taps Bret Jacobs of Keystone Group as CRO TRINITY EXCAVATORS: Hires Shannon & Lee as Local Counsel TUBE METAL: Unsecureds Will Get 100% of Claims over 36 Months U-TELCO UTILITIES: Seeks Cash Collateral Access ULTRA SAFE: Plan Exclusivity Period Extended to May 27 US ECO PRODUCTS: Unsecureds to Split $187,500 over 60 Months VANTAGE POINT: Voluntary Chapter 11 Case Summary VASTAV INC: Seeks Chapter 11 Bankruptcy in Texas VILLAGE ROADSHOW: Hollywood Unions Seek Assurance Amid Sale Plans VISION CARE: Court Extends Cash Collateral Access to April 28 W NORTHFIELD: To Sell New Jersey Property to Logic Investments WA3 PROPERTIES: Seeks Cash Collateral Access WOLYNIEC CONSTRUCTION: Seeks Chapter 11 Bankruptcy in Pennsylvania WYNN TEC: Capehart Represents Hanmi Bank & Midland States YIHE FORBES: Case Summary & Five Unsecured Creditors YOGI INTERNATIONAL: Taps Alliance and Camelot Realty as Broker ZAHRCO ENTERPRISES: Seeks Subchapter V Bankruptcy in Florida ZMETRA LAND: Court Extends Cash Collateral Access to May 8 ZOYA AB MANAGEMENT: Case Summary & One Unsecured Creditor ********* 125 MIDWOOD STREET: Unsecureds Will Get 100% in Sale Plan --------------------------------------------------------- 125 Midwood Street Partners, LLC filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement with respect to Chapter 11 Plan dated March 11, 2025. The Debtor's sole asset is the real property located at 125 Midwood Street, Brooklyn, NY (the "Property"). The Property is a single-family home situated in the highly sought-after neighborhood of Midwood, Brooklyn. The Property was originally purchased in 2004 by Peter Shivers and his wife, Yolanda Shivers, as their family residence. On March 24, 2005, Peter D. Shivers executed a promissory note for $680,000. The obligations were secured by the Property and Shellpoint is the current loan servicer. Since 2004, Ms. Shivers has continuously occupied the Property but has had no involvement in its operations. In July 2015, Mr. Shivers transferred ownership to 125 Midwood Street Partners, LLC, an entity he solely owned. Mr. Shivers passed away, leaving his interest in the Debtor entity to his wife, Yolanda Shivers. At the time of Mr. Shivers' passing, the Property was already in foreclosure. The lender, Shellpoint, refused to accept any payments from Ms. Shivers. Accordingly, on or about January 13, 2023, Shellpoint obtained a Judgment of Foreclosure and Sale against the Property and the original mortgagor in a foreclosure action commenced in 2013 under Index Number 9719/2013. Notably, the mortgage remains solely in Mr. Shivers' name. Following her inheritance of the Debtor, Ms. Shivers initially sought to maintain the Debtor's viability and preserve the Property. On June 12, 2023, the Debtor filed its first Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Eastern District of New York, Case No. 23-42074, with the objective of reorganizing and retaining the Property. Throughout the proceeding, the Debtor made all adequate protection payments and remained in compliance with the bankruptcy requirements. Shellpoint proceeded to schedule a second foreclosure auction sale date. As a result, the Debtor filed this second Chapter 11 bankruptcy petition to prevent the foreclosure and facilitate the sale of the Property through an orderly process. The Property remained actively marketed, and on February 27, 2025, the Debtor entered into a contract of sale for $1,840,000, subject to bankruptcy court approval. The sale was facilitated by R New York, with broker Robert Barr and agent Keva Rivera representing the Purchasers. The purchasers Cameron Ketcham and Sarah Ruel-Bergeron (the "Purchasers") have deposited $184,000 in escrow with the Debtor's attorney. The contract includes a mortgage contingency clause, allowing the Purchasers 60 days to secure financing. The transaction is at arm's length, with no prior relationship between the Purchasers and the Debtor's principals or affiliates. The Purchasers have retained Millennium Abstract Corporation to conduct a title search, the preliminary results of which are unremarkable. The main issues noted include: (1) a violation related to a corroded boiler valve. The Seller has already remedied the matter and will pay the associated fine of approximately $3,125 at closing; and (2) a federal tax lien against the Debtor's deceased former principal, Peter Shivers. The Debtor does not anticipate any delays in closing. Aside from this ongoing bankruptcy case, the transaction is expected to proceed as a standard real estate closing. The Debtor foresees full payment on the Effective Date for all Statutory Fees, Administrative Claims, and all Classes (Class 1 to Class 4). A plan encompassing 100% payment for all creditors is proposed. The Debtor has entered into a contract of sale for the Property located at 125 Midwood Street, Brooklyn, NY, for $1,840,000, subject to bankruptcy court approval. The estimated proceeds from the sale will be the sales price minus 4.5% broker's commission and approximately $10,000 in miscellaneous fees, leaving $1,747,200, which is sufficient to cover all expenses and fully satisfy the Debtor's claims. The estimated total expenses in this matter amount to $1,628,229, ensuring that all obligations are met with a remaining surplus. The sale is an arms-length transaction with purchasers Cameron Ketcham and Sarah RuelBergeron. The contract includes a mortgage contingency clause, giving the purchasers 60 days to secure financing. Upon approval from the bankruptcy court, the sale will proceed, allowing the Debtor to distribute funds accordingly. The proceeds will be used to pay all secured claims, administrative expenses, and priority claims in full. The estimated expenses include the mortgage payoff, closing costs, broker commissions, legal and administrative fees, and outstanding taxes and liens. Any remaining funds after satisfying these obligations will be distributed in accordance with the Bankruptcy Code. Class 3 consists of General Unsecured Claims, which have been submitted in the Debtor's schedules and/or for which proofs of claims have been filed in the Court's Claims Register. Each holder of an Allowed Class 3 General Unsecured Claim will receive Available Cash after all payments to Class 1 Claims, Class 2 Claims, Statutory Fees and Administrative Claims, with simple interest, if required, from the Petition Date. The Debtor estimates that the amount of Allowed General Unsecured Claims will be $51,640. This Class will receive a distribution of 100% of their allowed claims. Class 4 consists of the holders of Interests in the Debtor. Holders of Allowed Class 4 Interests shall continue to retain and maintain such Interests in the Debtor and the Post-Confirmation Debtor assets following Confirmation of the Plan. Additionally, to the extent that there is any Available Cash after full payment of all Statutory Fees, Administrative Claims, Class 1 Claims, Class 2 Claims, Class 3 Claims, the holders of the Allowed Class 4 Interests shall receive such remaining Available Cash, pro rata, in accordance with their respective percentage interests in the Debtor. The Debtor's Plan is feasible and provides a clear path to the full satisfaction of all Allowed Claims. The Plan is funded through the private sale of the Property for $1,840,000, which is sufficient to cover all obligations. The estimated total expenses in this matter amount to $1,638,229. A full-text copy of the Disclosure Statement dated March 11, 2025 is available at https://urlcurt.com/u?l=yaaidi from PacerMonitor.com at no charge. Counsel to the Debtor: Nnenna Onua, Esq. McKinley Onua & Associates, PLLC 233 Broadway, Suite 2348 New York, New York 10279 Telephone: 718-522-0236 Facsimile: 718-701-8309 Email: nonua@mckinleyonua.com About 125 Midwood Street Partners LLC 125 Midwood Street Partners LLC is the fee simple owner of the real property located at 125 Midwood Street, Brooklyn, NY 11225 valued at $2.41 million. 125 Midwood Street Partners LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-43803) on September 12, 2024. In the petition filed by Yolanda Shivers, as managing member, the Debtor reports total assets of $2,408,000 and total liabilities of $1,415,412. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Nnenna Onua, Esq. at MICKINLEY ONUA & ASSOCIATES. 13 ADAMS STREET: Seeks to Hire Compass as Real Estate as Broker --------------------------------------------------------------- 13 Adams Street, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Compass Greater NY LLC as real estate broker. The Debtor needs a broker to sell its property located at 13 Adams Street, Bedford, New York. The broker will receive a commission of 4 percent of the property's sale price. In the event that the buyer has a broker, the buyer's broker will receive 2 percent of the 4 percent total commission. The broker will then receive 2 percent. Joseph Lukic, a broker at Compass Greater NY, 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: Joseph Lukic Compass Greater NY LLC 110 Fifth Avenue, 3rd Floor New York NY 10011 Telephone: (646) 982-0353 About 13 Adams Street 13 Adams Street, LLC filed Chapter 11 petition (Bankr. S.D. N.W. Case No. 24-23096) on December 17, 2024, listing between $1 million and $10 million in both assets and liabilities. Judge Sean H. Lane oversees the case. Anne J. Penachio, Esq., at Penachio Malara, LLP represents the Debtor as counsel. 145 NAVARRO: Seeks to Hire Asel & Associates as Financial Advisor ----------------------------------------------------------------- 145 Navarro, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Asel & Associates, PLLC as financial advisor. The firm will provide these services: (a) supervise, and if necessary, assist the Debtor in the development and administration of its short-term cash flow forecasting and related methodologies, as well as its cash management planning; (b) provide such assistance as is reasonably may be required by management of the Debtor in connection with (i) development of its business plan, (ii) any restructuring plans and strategy alternatives intended to maximize value and (iii) any related forecasts that may be required by creditor constituencies in connection with negotiation or by it; (c) supervise, and if necessary, assist the Debtor's other professionals in the restructuring process or who are working for its various stakeholders to coordinate their effort and individual work produce to be consistent with its overall restructuring goals; (d) assist, if required, the Debtor in communications and negotiations with its outside constituents; (e) provide such other services as are reasonable and customary for a CRO in connection with an engagement of this nature; and (f) monitor and manage the Debtor's cash management. The firm will be paid at these hourly rates: Member $650 Manager $475 Associate $325 Administrator $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received an initial retainer in the amount of $40,000. Aaron Asel, a member at Asel & 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 through: Aaron Asel Asel & Associates, PLLC 4725 College Park, Suite 200 San Antonio, TX 78249 Telephone: (210) 544-5665 About 145 Navarro LLC 145 Navarro LLC is a limited liability company. 145 Navarro LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90011) on February 18, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Susan Tran Adams, Esq. at Tran Singh, LLP. 1847 HOLDINGS: Five Proposals OK'd at Special Meeting ----------------------------------------------------- 1847 Holdings LLC held a special meeting of shareholders via live webcast. Holders of the Company's common shares and series E preferred shares at the close of business on January 22, 2025 were entitled to vote at the Special Meeting. As of such date, there were 25,400,386 common shares and 25,400,386 series E preferred shares issued and outstanding and entitled to vote, with each common share being entitled to one vote per share and each series E preferred share being entitled to 1,000,000) votes per share. In accordance with the provisions of the Share Designation of Series E Preferred Shares, dated December 30, 2024, all series E preferred shares that were not duly voted by proxy prior to the opening of the Special Meeting were automatically redeemed by the Company as of immediately prior to the opening of the Special Meeting. A total of 21,504,534 series E preferred shares were redeemed prior to the opening of the Special Meeting. Accordingly, there were 3,895,877,400,386 votes eligible to be cast at the Special Meeting, of which there were 3,895,856,261,813 votes present, in person or by proxy, constituting a quorum. All remaining series E preferred shares were redeemed following the Special Meeting. Shareholders voted on five proposals at the Special Meeting: Proposal 1: The Company's shareholders approved the issuance of all common shares that may be issued upon the exercise of pre-funded warrants to purchase common shares, series A warrants to purchase common shares and series B warrants to purchase common shares that were issued to certain purchasers on December 16, 2024, which, for the avoidance of doubt, includes all common shares that may be issued as a result of any: (i) voluntary adjustment by the Company, from time to time, of the exercise price of any and all outstanding December Series A Warrants and December Series B Warrants pursuant to the terms of the December Series A Warrants and the December Series B Warrants, respectively, (ii) adjustment to the exercise price and number of common shares underlying the December Series A Warrants and the December Series B Warrants in the event of a Share Combination Event (as defined in the December Series A Warrants and the December Series B Warrants), (iii) adjustment to the exercise price and number of common shares underlying the December Series A Warrants and the December Series B Warrants following the Reset Date (as defined in the December Series A Warrants and the December Series B Warrants), (iv) adjustment to the exercise price and number of common shares underlying the December Series A Warrants and the December Series B Warrants following a Dilutive Issuance (as defined in the December Series A Warrants and the December Series B Warrants), or (v) alternative cashless exercise pursuant to Section 2.3 of the December Series A Warrants, as well as to fully implement the adjustments contemplated by the definition of the "Floor Price" contained in the December Series A Warrants and the December Series B Warrants. Proposal 2: The Company's shareholders approved certain adjustments to the series A warrants to purchase common shares and the series B warrants to purchase common shares that were issued to certain purchasers on October 30, 2024, which includes: (i) an adjustment to the exercise price and the Floor Price (as defined in the October Series A Warrants) of the outstanding October Series A Warrants to $0.81 (subject to adjustments for stock splits, stock combinations, recapitalizations and similar transactions), and a corresponding increase to the number of common shares underlying the October Series A Warrants so that the aggregate exercise value shall remain unchanged, and (ii) an adjustment to the exercise price and the Floor Price (as defined in the October Series B Warrants) of the outstanding October Series B Warrants to $0.54 (subject to adjustments for stock splits, stock combinations, recapitalizations and similar transactions), and a corresponding increase to the number of common shares underlying the October Series B Warrants so that the aggregate exercise value shall remain unchanged. Proposal 3: The Company's shareholders approved No. 4 to the Second Amended and Restated Operating Agreement of the Company to increase the number of authorized common shares to 2,000,000,000 shares. Proposal 4: The Company's shareholders approved Amendment No. 3 to the 1847 Holdings LLC 2023 Equity Incentive Plan to increase the share reserve to 5,000,000 common shares. Proposal 5: The Company's shareholders approved a proposal to adjourn the Special Meeting to a later date if necessary to solicit additional proxies if there are no sufficient votes to approve any of the foregoing proposals at the time of the Special Meeting, or any adjournment or postponement thereof. About 1847 Holdings Based in New York, NY, 1847 Holdings LLC -- www.1847holdings.com -- is an acquisition holding company focused on acquiring and managing a group of small businesses, which the Company characterizes as those with an enterprise value of less than $50 million, in a variety of different industries headquartered in North America. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated April 25, 2024, citing that the Company has suffered recurring losses and negative cash flows from operations and has a working capital deficit, which raises substantial doubt about its ability to continue as a going concern. As of June 30, 2024, 1847 Holdings had $34,421,110 in total assets, $64,945,119 in total liabilities, and $30,524,009 in total stockholders' deficit. 236 WEST E&P: Sec. 341(a) Meeting of Creditors on April 25 ---------------------------------------------------------- On March 28, 2025, 236 West E&P LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filing, the Debtor reports $2,345,178 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) meeting to be held on April 25, 2025 at 02:00 PM at Office of UST (TELECONFERENCE ONLY). About 236 West E&P LLC 236 West E&P LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B), and owns a rental business. 236 West E&P LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10590) on March 28, 2025. In its petition, the Debtor reports total assets of $2,678,090 and total debts of $2,345,178. Honorable Bankruptcy Judge John P. Mastando III handles the case. The Debtor is represented by Michael L. Previto, Esq. at MICHAEL L. PREVITO. 23ANDME HOLDING: Hires Alvarez & Marsal as Restructuring Advisor ---------------------------------------------------------------- 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Alvarez & Marsal North America LLC as restructuring advisor. The firm will provide Matthew Kvarda as chief restructuring officer and certain additional personnel to the Debtors. The CRO and additional personnel will render these services: (a) assist in evaluation of the Debtors' current business plan and in preparation of a revised operating plan and cash flow forecast and presentation of such plan and forecast to their Board of Directors and their creditors; (b) assist in the development and management of a 13-week cash flow forecast; (c) assist in the identification (and implementation) of cost reduction and operations improvement opportunities; (d) assist the chief financial officer and other Debtors engaged professionals in developing for the special committee of the Board's review possible restructuring plans or strategic alternatives for maximizing the enterprise value of the Debtors' various business lines; (e) assist financing issues including assistance in preparation of reports and liaison with creditors; (f) assist in contingency planning, including, if needed, assist the Debtors in preparing for a potential Chapter 11 bankruptcy filing; (g) report to the Board as desired or directed by the Responsible Officer; and (h) render other activities as are approved by the Debtors, the Responsible Officer or the Board and agreed to by the firm. The firm will be paid at these hourly rates: Managing Directors $ 1,100 - $1,575 Directors $850 - $1,100 Associates $625 - $825 Analysts $450 - $600 The firm also requested for a completion fee of $750,000. In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the firm received retainers and payments totalling to $2,228,968 from the Debtors. Mr. Kvadra 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: Matthew Kvadra Alvarez & Marsal North America LLC 600 Madison Avenue, Floor 8 New York, NY 10022 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Hires Paul Weiss Rifkind Wharton as Counsel ------------------------------------------------------------ 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel. The firm will render these services: (a) provide legal advice with respect to the Debtors' powers and duties in the continued operation of their business and management of their properties; (b) attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of these Chapter 11 cases; (c) take action necessary to protect and preserve the Debtors' estates, (d) prepare and prosecute on behalf of the Debtors all legal papers necessary to the administration of the estates; (e) advise and assist the Debtors with the marketing and sale process for their assets and financing and transactional matters, as such may arise during the Chapter 11 cases; (f) advise and assist the Debtors with financing and transactional matters that may arise during these Chapter 11 cases; (g) take any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a Chapter 11 plan and all documentation related thereto; (h) appear in court and protect the interests of the Debtors before the court; (i) advise the Debtors regarding tax matters; and (j) perform all other legal services for the Debtors that may be necessary and proper in these Chapter 11 cases. The firm's counsel and staff will be paid at these hourly rates: Paul Basta, Partner $2,595 Christopher Hopkins, Partner $2,350 Jessica Choi, Associate $1,695 Grace Hotz, Associate $1,695 Lauren Castillo, Associate $1,470 Justin Simms, Associate $975 Elizabeth Gonzalez, Law Clerk $975 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total retainer amount of $4,937,577.61 from the Debtors. Mr. Hopkins 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: Christopher Hopkins, Esq. Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, NY 10019 Telephone: (212) 373-3000 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Seeks to Hire Carmody MacDonald as Co-Counsel -------------------------------------------------------------- 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Carmody MacDonald PC as co-counsel. The firm will render these services: (a) advise the Debtors with respect to their rights and obligations and regarding other matters of bankruptcy law; (b) assist in the preparation and file of any legal documents that may be required in these Chapter 11 cases; (c) represent the Debtors at hearings; (d) represent the Debtors in adversary proceedings and other contested matters; (e) represent the Debtors in connection with debtor-in-possession financing arrangements, if any; and (f) counsel the Debtors on other matters that may arise in connection with their reorganization proceedings and their business operations. The firm's counsel and staff will be paid at these hourly rates: Carmody MacDonald, Partner $360 - $650 Associates $285 - $375 Paralegals/Law Clerks $200 - $230 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $107,779 for its services from the Debtors. Thomas Riske, a principal at Carmody MacDonald, 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: Thomas H. Riske, Esq. Carmody MacDonald, PC 120 Central Ave Ste 1800 Saint Louis, MO 63105 Telephone: (314) 854-8600 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Seeks to Hire Goodwin Procter as Special Counsel ----------------------------------------------------------------- 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Goodwin Procter LLP as special counsel to the Special Committee of 23andMe's Board of Directors. The firm will render these services: (a) continue to provide legal counsel to the Special Committee within its delegated authority; (b) conduct investigations with respect to certain pre-petition transactions and actions by certain of the Debtors' directors and officers and their related parties; and (c) provide advice and representation to the Special Committee regarding any estate claims and causes of action that may be available to the Debtors. The hourly rates of the firm's counsel and staff are as follows: Partners $1,400 - $2,450 Counsel $1,300 - $2,280 Associates $870 - $1,370 Paralegals $380 - $740 In addition, the firm will seek reimbursement for expenses incurred. During the 90 days prior to the petition date, the firm received certain payments from the Debtors totaling $2,565,232 and additional payments totaling approximately $1,000,000 in advance of receiving legal services. Robert Lemons, a partner at Goodwin Procter, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. The hourly rates used by Goodwin Procter in representing the Debtors are consistent with the rates that Goodwin Procter charges other comparable Chapter 11 clients, regardless of the location of the Chapter 11 case. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and reasons for the difference. Answer: Goodwin Procter's standard billing rates are adjusted annually based on a careful and comprehensive review of market conditions and other factors. The material financial terms for the prepetition engagement remained the same, as the engagement was on an hourly basis. During the prepetition engagement, Goodwin Procter's billing rates were between $870 and $2,450. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Debtors and Goodwin Procter expect to develop a prospective budget and staffing plan for the Chapter 11 Case. In accordance with the U.S. Trustee Guidelines, the budget may be amended as necessary to reflect changed or unanticipated developments. Mr. Lemons 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: Robert Lemons Goodwin Procter LLP The New York Times Building 620 Eighth Avenue New York, NY 10018 Telephone: (212) 813-8800 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Seeks to Tap Lewis Rice as Special Local Counsel ----------------------------------------------------------------- 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Lewis Rice LLC as special local counsel to the Special Committee of 23andMe's Board of Directors. The firm will render these services: (a) continue to provide legal counsel to the Special Committee within its delegated authority; (b) conduct investigations with respect to certain pre-petition transactions and actions by certain of the Debtors' directors and officers and their related parties; and (c) provide advice and representation to the Special Committee regarding any estate claims and causes of action that may be available to the Debtors. The hourly rates of the firm's counsel are as follows: Partners $900 - $600 Associates $300 - $600 Paralegals $225 - $300 On March 20, 2025, the firm received a retainer of $40,000 from 23andMe Holding Co. Larry Parres, a partner at Lewis Rice, 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: Larry Parres, Esq. Lewis Rice LLC 600 Washington Ave. Saint Louis, MO 63101 Telephone: (314) 444-7600 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Seeks to Tap Moelis & Co. as Investment Banker --------------------------------------------------------------- 23andMe Holding Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Moelis & Company LLC as investment banker. The firm will render these services: (a) assist the Debtors and Special Committee in reviewing the Debtors' strategic alternatives; (b) assist the Debtors and Special Committee in reviewing and analyzing the Debtors' results of operations, financial condition and business plan; (c) assist the Debtors and Special Committee in reviewing and analyzing any potential Sale Transaction, Asset Transaction, Restructuring or Capital Transaction; (d) assist the Debtors and Special Committee in negotiating any Sale Transaction, Asset Transaction, Restructuring or Capital Transaction; (e) advise the Debtors and Special Committee on the terms of securities the Debtors offer in any potential Capital Transaction; (f) advise the Debtors and Special Committee on its preparation of an information memorandum for a potential Sale Transaction, Asset Transaction or Capital Transaction; (g) assist the Debtors and Special Committee in identifying and contacting potential Acquirers or purchasers of a Capital Transaction that the Debtors and Special Committee deem appropriate, and meet with and provide them with the Information Memo and such additional information about the Debtors' assets, properties or businesses that is acceptable to the it and Special Committee, subject to customary business confidentiality agreements; and (h) provide such other financial advisory and investment banking services in connection with a Sale Transaction, Asset Transaction, Restructuring or Capital Transaction as Moelis, the Debtors and the Special Committee may mutually agree upon. The firm will be compensated at these fees: (a) retainer fee of $1,000,000; (b) monthly fee of $175,000; (c) opinion fee of $1,000,000; (d) sale transaction fee of $3,500,000; (e) asset transaction fee of $2,500,000; (f) restructuring fee of $3,000,000; (g) capital transaction fee: (i) 5 percent of the aggregate gross proceeds received), directly or indirectly, by the Debtors and their subsidiaries in the Capital Transaction as equity, equity-linked interests, options, warrants or other rights to acquire equity interests; (ii) 3 percent of the aggregate gross proceeds received, directly or indirectly, by the Debtors and their subsidiaries with respect to debt obligations for borrowed money raised in the Capital Transaction that are convertible into Equity Interests; (iii) 2 percent of the aggregate gross proceeds received, directly or indirectly, by the Debtors and their subsidiaries with respect to junior or unsecured debt obligations for borrowed money raised in the Capital Transaction; and (iv) 1 percent of the aggregate gross proceeds received, directly or indirectly, by the Debtors and their subsidiaries with respect to secured debt obligations for borrowed money raised in the Capital Transaction. In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $1,000,000 from the Debtors. Barak Klein, a managing director at Moelis & Company, 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: Barak Klein Moelis & Company LLC 399 Park Avenue, 4th Floor New York, NY 10022 Telephone: (212) 883-3800 Facsimile: (212) 880-4260 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 23ANDME HOLDING: Zentree Holds 10% of Class A Common Shares ----------------------------------------------------------- Zentree Investments Limited disclosed in a Schedule 13G/A filed with the U.S. Securities and Exchange Commission that as of March 12, 2025, it and its director, Richard Magides, beneficially owned 2,639,190 shares of 23andMe Holding Co.'s Class A Common Stock, representing 10% of the 20,340,344 shares of Class A Common Stock, outstanding as of March 6, 2025. Zentree Investments Limited may be reached at: Richard Magides c/o Zentree Investment Management Pte Ltd 18 Robinson Road Level 15-01 Singapore 048547 Tel: 566-351-950 A full-text copy of Zentree Investments' SEC Report is available at: https://tinyurl.com/465hvnw3 About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morgan, Lewis & Bockius LLP are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Moelis & Company LLC is serving as investment banker and Goodwin Procter LLP is serving as legal advisor to the Special Committee of 23andMe's Board of Directors. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 301 W NORTH AVENUE: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: 301 W North Avenue, LLC 1552 N. North Park Avenue Chicago, IL 60610 Business Description: 301 W North Avenue, LLC is a real estate debtor with a single asset, as outlined in 11 U.S.C. Section 101(51B), and its main property is situated at 1552 N. North Park Avenue, Chicago, IL 60610. Chapter 11 Petition Date: April 5, 2025 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 25-05275 Judge: Hon. Timothy A Barnes Debtor's Counsel: Robert Glantz, Esq. ROBERT GLANTZ MUCH SHELIST, P.C. MUCH SHELIST PC 191 N Wacker Drive Suite 1800 Chicago, IL 60606 Tel: (312) 521-2000x0 Email: rglantz@muchlaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million F. Martin Paris, Jr., in his role as authorized representative, signed the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XLPX5VI/301_W_North_Avenue_LLC__ilnbke-25-05275__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Anasinski Group, Inc. Trade Debt $350 4055 W. Peterson Avenue Unit 207 Chicago, IL 60646 2. Apartments.com $0 1339 Street NW Washington, DC 20005 3. BDS III Mortgage $11,000,000 Capital G LLC 300 Park Avenue, 17th Floor New York, NY 10022 4. Chicago Repairman - $0 Infinite Appliance 7414 Churchill Morton Grove, IL 60053 5. Comcast Trade Debt $106 1500 McConnor Pkwy, Suite 100 Schaumburg, IL 60173-4330 6. ComEd Trade Debt $3,418 ComEd Customer Care Center P.O. Box 805379 Chicago, IL 60680-5379 7. Durability Construction, Inc. $0 3452 N. Knox Ave. Chicago, IL 60641 8. Grand Appliance & TV $0 10301 Enterprise Way Sturtevant, WI 53177 9. Grogan Hesse & Trade Debt $20,000 Uditsky P.C. 2 Mid-America Plaza, Suite 110 Villa Park, IL 60181 10. Illinois Telephone Corporation $0 PO Box 845 Hillside, IL 60162-0845 11. Jones Advocate Group, Inc. Trade Debt $1,977 1100 W Northwest Hwy Suite 201 Mount Prospect, IL 60056 12. Kass Management $0 Services, Inc. 2000 N Racine, Suite 4400 Chicago, IL 60614 13. LaSalle Appraisal Group $0 9455 S. Hoyne Avenue Chicago, IL 60643 14. Law Office of James Lowry Trade Debt $31,195 77 W Washington St #1415 Chicago, IL 60602 15. Levenfeld Perlstein, LLC Trade Debt $45,565 120 S. Riverside Plaza, Suite 1800 Chicago, IL 60606 16. Peoples Gas Trade Debt $5,000 P.O. Box 6050 Carol Stream, IL 60197-6050 17. Stuart Title Guaranty Company $0 120 N. LaSalle Street Chicago, IL 60602 18. The Apartment Source Trade Debt $7,446 2533 W. Fullerton Ave Chicago, IL 60647 19. The Planning and Trade Debt $2,097 Zoning Resource Company 1450 Broadway 41st Floor New York, NY 10018 20. Zillow Group Inc. Trade Debt $554 1301 Second Avenue Floor 31 Seattle, WA 98101 3101 SAGE RD: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, 3101 Sage Rd. LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 3101 Sage Rd. LLC 3101 Sage Rd. LLC is a real estate debtor with a single asset, as defined in 11 U.S.C. Section 101(51B). 3101 Sage Rd. LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-31806) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. The Debtor is represented by Larry Vick, Esq. at LAW OFFICE OF LARRY A. VICK. 8787 RICCHI: Seeks Chapter 11 Bankruptcy in Texas ------------------------------------------------- On March 31, 2025, 8787 Ricchi LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 8787 Ricchi LLC 8787 Ricchi LLC is a commercial real estate company that owns and manages properties in Dallas, Texas. 8787 Ricchi LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-31144) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Frank Jennings Wright, Esq. at Law Offices Of Frank J. Wright, PLLC. 92 RYERSON STREET: Case Summary & Four Unsecured Creditors ---------------------------------------------------------- Debtor: 92 Ryerson Street, LLC 950 3rd Ave, Suite 901 New York, NY 10022 Business Description: 92 Ryerson Street, LLC is a real estate debtor with only one asset, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: April 2, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-41634 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Btzalel Hirschhorn, Esq. SHIRYAK, BOWMAN, ANDERSON, GILL & KADOCNIKOV, LLP 80-02 Kew Gardens Road Suite 600 Kew Gardens, NY 11415 Tel: 718-263-6800 Fax: 718-520-9401 E-mail: Bhirschhorn@sbagk.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million Eitan Itah, acting as sole member, affixed his signature to the petition. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JCHFTGY/92_Ryerson_Street_LLC__nyebke-25-41634__0001.0.pdf?mcid=tGE4TAMA A.B.O.D.E. TREATMENT: Seeks to Hire Neal A. Walker as Accountant ---------------------------------------------------------------- A.B.O.D.E. Treatment, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Neal A. Walker, CPA, P.C. as certified public accountant. The firm will render these services: a. provide auditing services, including completion of the examination of financial statements as of 02/04/2025, which examination is currently in progress; b. assist in preparation of accounting statements as of 02/04/2025; c. assist in preparation of monthly accountings to the Bankruptcy Court and the Creditors' Committee; d. assist in preparation of cash flow forecast for the period commencing 03/07/2025; e. assist in preparation of trial exhibits for plans of reorganization; f. prepare tax returns; and g. provide all other accounting services that the Debtor in Possession may require. The firm will bill $225 an hour billable rate for accounting services. As disclosed in court filings, Neal A. Walker does not represent interests adverse to the Debtors or their estate in the matters upon which the firm is to be engaged. The firm can be reached through: Neal A. Walker, CPA Neal A. Walker, CPA, P.C. 400 N. St. Paul St., Suite 1210 Dallas, TX 75201 Phone: (972) 223-9700 Email: info@nawcpa.com About A.B.O.D.E. Treatment, Inc. A.B.O.D.E. Treatment sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-40451) on February 4, 2025. In its petition, the Debtor reported between $500,000 and $1 million in both assets and liabilities. Judge Edward L. Morris handles the case. The Debtor is represented by Kevin S. Wiley, Sr, Esq., at The Wiley Law Group, PLLC, in Dallas, Texas. A.R.M. BAGELS: Seeks Cash Collateral Access ------------------------------------------- A.R.M. Bagels Inc. asked the U.S. Bankruptcy Court for the Southern District of New York for authority to use cash collateral. The Debtor, a bagel shop in Hartsdale, N.Y., filed for Chapter 11 bankruptcy on March 7, 2025, due to financial struggles worsened by COVID-19, debt, and revenue decline. They are attempting to sell the business and continue operations until the sale is completed. The U.S. Small Business Administration is owed approximately $536,000, and LCF Group, Inc. is owed about $3,000. SBA has agreed to the motion with adequate protection, and LC's consent is presumed. The Debtor entered into an asset purchase agreement with RJD Bagels and hopes to finalize the sale by May 1, 2025. The Debtor also sought approval for pre-petition wage payments and a waiver of the stay on the effectiveness of the order. As adequate protection for the Debtor's use of cash collateral and in consideration for the use of the cash collateral, the Debtor proposed to pay SBA interest in the contractual amount and to grant SBA replacement liens in all of the Debtor's pre-petition and post-petition assets and proceeds, including receivables, and contract rights and the proceeds of the foregoing, to the extent that it had a valid security interest in said pre-petition assets and in the continuing order of priority that existed as of the Debtor's bankruptcy filing, provided that the replacement lien in all of the Debtor's post-petition accounts and accounts receivable. A hearing on the matter is set for April 24. About A.R.M. Bagels Inc. A.R.M. Bagels owns and operates bagel shop from 415 North Central Park Avenue, Hartsdale, N.Y. A.R.M. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 25-22194) on March 7, 2025, listing up to $50,000 in assets and up to $1 million in liabilities. Anthony Iaccarino, president of A.R.M., signed the petition. Judge Kyu Young Paek oversees the case. Anne Penachio, Esq., at Penachio Malara LLP, represents the Debtor as legal counsel. AB INTERNATIONAL: Anyone Pictures Holds 46.7% Stake --------------------------------------------------- Anyone Pictures Ltd. disclosed in a Schedule 13D filed with the U.S. Securities and Exchange Commission that as of February 21, 2025, it beneficially owned 2,000,000,000 shares of AB International Group Corp.'s common stock, representing 46.7% of the sum of (i) 2,281,266,321 shares of Common Stock outstanding as of January 13, 2025, as reported in the Company's Quarterly Report on Form 10-Q filed with the SEC on January 14, 2025, and (ii) 2,000,000,000 shares of Common Stock issued in the February 21, 2025 Private Placement. The shares were acquired through a Securities Purchase Agreement at a price of $0.00015 per share. Anyone Pictures Ltd. may be reached through: Heidi Liu, Financial Manager Suite 604 Po Lung Centre, 11 Wang Chiu Rd Kowloon, K3, 999077 Tel: 86 1312 9377 848 A full-text copy of Anyone Pictures' SEC Report is available at: https://tinyurl.com/55shm9z4 About AB International Headquartered in Mt. Kisco, N.Y., AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on the acquisition and development of various intellectual property, including the acquisition and distribution of movies. Hackensack, N.J.-based Prager Metis CPAs, LLC, the Company's auditor since 2022, issued a "going concern" qualification in its report dated November 26, 2024, citing that the Company had limited cash, an accumulated deficit of approximately $11.8 million and a limited working capital deficit of approximately $0.2 million. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders or external financing and achieving operating profits. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of November 30, 2024, AB International Group had $2,222,315 in total assets, $810,151 in total liabilities, and $1,412,164 in total stockholders' equity. ACME ASPHALT: Christy Brandon Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 18 appointed Christy Brandon, Esq., a practicing attorney in Bigfork, Mont., as Subchapter V trustee for Acme Asphalt Industries Inc. Ms. Brandon 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. Brandon declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Christy L. Brandon P.O. Box 1544 Bigfork, MT 59911 Phone: (406) 837-5445 Email: christy@brandonlawfirm.com About Acme Asphalt Industries Inc. Acme Asphalt Industries, Inc. is a small business based in Southwest Montana, established in 1997, specializing in all phases of site work, including excavation, grading, utilities, and asphalt construction and maintenance. The company's services cater to residential, commercial, and municipal projects. It operates in Montana, Idaho, Oregon, Washington, and Wyoming, focusing on delivering projects with high-quality standards, on time, and within budget. Acme sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mont. Case No. 25-20045) on March 10, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. The Debtor is represented by: Matt Shimanek, Esq. Shimanek Law, PLLC 317 East Spruce Street Missoula, MT 59802 Tel: 406-544-8049 Email: matt@shimaneklaw.com AFH AIR PROS: Gets OK to Hire Kurtzman Carson as Claims Agent ------------------------------------------------------------- AFH Air Pros LLC received approval from the U.S. Bankruptcy Court for the Northern District of Georgia to retain 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. Prior to the petition date, the Debtor provided the firm a retainer in the amount of $40,000. 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 AFH Air Pros LLC Founded in 2017 in Fort Lauderdale, Florida, Air Pros is a professional home services provider specializing in HVAC installation, repair, maintenance, and air quality solutions for residential and commercial clients. Air Pros also offer plumbing, electrical services, and home warranties at certain locations. Air Pros, which began with one vehicle and two employees, now operates over 600 vehicles, employs more than 700 people, and serves customers in eight states: Florida, Georgia, Alabama, Mississippi, Louisiana, Texas, Colorado, and Washington. AFH Air Pros, LLC, and 19 of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.) on March 16, 2025, listing estimated assets of $100 million to $500 million, and estimated liabilities of $100 million to $500 million. The petitions were signed by by Andrew D.J. Hede as chief restructuring officer. Judge Paul Baisier presides over the case. David B. Kurzweil, Esq. and Matthew A. Petrie, Esq., at Greenberg Traurig LLP, represent the Debtor as counsel. ACCORDION PARTNERS, LLC serves as the Debtor's financial advisor. JEFFERIES LLC services as the Debtor's investment banker. KURTZMAN CARSON CONSULTANTS, LLC and DBA VERITA GLOBAL serve as the Debtor's notice, claims & balloting agent and administrative advisor. AIO US: Hires Covington & Burling as Special Insurance Counsel -------------------------------------------------------------- AIO US, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Covington & Burling LLP as special insurance counsel. The firm will render services related to insurance rights, obligations, and coverage, including all necessary or appropriate legal services in connection with the Coverage Matters. The firm's professionals will be billed at these hourly rates: Anna Engh, Attorney $1,975 Wendy Feng, Attorney $1,625 Megan Myers, Attorney $1,065 Other Attorneys $825 - $1,975 Paraprofessionals $350 - $850 In addition, the firm will seek reimbursement for expenses incurred. Ms. Engh 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: Anna Engh, Esq. Covington & Burling LLP The New York Building 620 Eighth Avenue New York, NY 10018 Telephone: (212) 841-1000 About AIO US AIO US Inc., Avon Products Inc, and some of its affiliates are manufacturers and marketers of beauty, fashion, and home products with operations and customers across the globe. AIO US and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-11836) on Aug. 12, 2024. In the petition filed by Philip J. Gund as chief restructuring officer, AIO US disclosed $1 billion to $10 billion in assets and debt. Richards, Layton & Finger, PA; Weil, Gotshal & Manges LLP; and Covington & Burling LLP are serving as counsel to the Debtors. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors. Rothschild & Co US Inc. is the Debtors' investment banker and financial advisor. Epiq Corporate Restructuring LLC acts as claims and noticing agent to the Debtors. ALK ASPHALT: Unsecureds be Paid in Full Via Step-Up Annual Payments ------------------------------------------------------------------- ALK Asphalt, LLC, filed with the U.S. Bankruptcy Court for the District of Arizona a Disclosure Statement describing Plan of Reorganization dated March 10, 2025. Adam Kautman formed the Debtor in February 2021 as a family-owned and operated contractor specializing in concrete and asphalt services such as micro-seal, asphalt milling, and patching. As it continued to grow, the Debtor took on larger contracts. In particular, it took on two substantial civil contracts. These contracts created significant financial stress as they generally required the Debtor to cover upfront expenses and only recover these expenses after several months when it collected it receivables. Adding to the inherent difficulties with this type of contract, the Debtor ran into contractual disputes with Sellers & Sons, the general contractor on one of the jobs. These issues whittled down the Debtor's operating capital. In order to cover its ongoing expenses, the Debtor turned to very expensive, short-term financing in the form of Merchant Cash Advances leveraged against its relatively substantial receivables. Faced with an immediate loss of any material operating capital, the Debtor sought protection under Chapter 11 of the Bankruptcy Code to regain control of its receivables, rehabilitate its operations, and repay creditors in an orderly fashion. The reorganization process has allowed the Debtor to rehabilitate its operations to a significant extent. Prior the Petition Date, the continued drawdown on the Debtor's accounts from the Merchant Cash Advance financers represented the greatest strain on the Debtor's finances. The ability for the Debtor to stay such collection and restructure those obligations into a less aggressive repayment plan has removed such pressure. Furthermore, the Debtor's ability to focus on maintaining consistent revenue and reducing expenses during the reorganization process has allowed it to generate profits higher than initially anticipated. Overall, the Debtor feels confident that its recent financial performance demonstrates its ability to generate enough revenue during the next five years in order to pay all Creditors in full. Class III consists of all Allowed Unsecured Claims against the Debtor. The Debtor shall pay holders of Allowed Class II Claims in full through their Pro Rata share of the following five progressive annual payments beginning one year from the Confirmation Date and continuing on the same day each year thereafter until paid in full: (i) one payment of $150,000 followed by (ii) two annual payments of $250,000 followed by (iii) one payment of $500,000 followed by (iv) the outstanding balance of any remaining Class III Claim. Class III is impaired. Purpose Fund holds a seventh-position lien on the Debtor's pre petition accounts, including receivables. Pursuant to Section 506(a)(1) of the Bankruptcy Code, as there is no value in such assets beyond higher priority liens, any Allowed Claim held by Purpose Fund, currently asserted in the amount of $191,122.50, shall be treated as a Class III Claim. Class IV consists of all Allowed Equity Interests arising by virtue of a member's ownership interest in the Debtor. Class IV shall retain its Equity Interests in the Debtor to the same extent and validity and upon the same terms as its prepetition Equity Interest. Class IV is not impaired. The Debtor will fund payments required on the Effective Date through the funds held on deposit in its debtor-in-possession account. To the extent the Debtor does not have sufficient funds on hand to pay AJG its Allowed Administrative Claim in full on the Effective Date without prejudicing its ability to continue operations, AJG will work with the Debtor in good faith to determine an acceptable repayment term. The Debtor will use its post-confirmation revenue to fund the remaining payments due to creditors during the Plan term. The Debtor anticipates that its income will provide sufficient funds to pay all Creditors in full through the five-year Plan term. The proposed Plan provides a better outcome for all Creditors. Secured Creditors will receive the full value of their Secured Claims with interest through amortized monthly payments. In addition, any deficiency will be paid in full by the Plan's conclusion. In addition, Priority Tax Claims will be paid in full within five years of the Petition Date. Most importantly, General Unsecured Creditors will be paid the full value of their Allowed Claim by the end of the Plan. As the Plan proposes a payment of all Allowed Claims in full, the Plan provides a much better outcome than a liquidation of the Debtor's assets. A full-text copy of the Disclosure Statement dated March 10, 2025 is available at https://urlcurt.com/u?l=AXBmzV from PacerMonitor.com at no charge. Counsel to the Debtor: Thomas H. Allen, Esq. David B. Nelson, Esq. Ryan M. Deutsch, Esq. ALLEN, JONES & GILES, PLC 1850 N. Central Ave., Suite 1025 Phoenix, AZ 85004 Tel: (602) 256-6000 Fax: (602) 252-4712 Email:tallen@bkfirmaz.com dnelson@bkfirmaz.com rdeutsch@bkfirmaz.com About ALK Asphalt ALK Asphalt, LLC, is a company in Sun City, Ariz., engaged in highway, street and bridge construction. ALK Asphalt sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 24-09608) on November 8, 2024, with $1 million to $10 million in both assets and liabilities. The petition was signed by Adam Kautman as member. Judge Daniel P. Collins oversees the case. The Debtor tapped Allen, Jones & Giles, PLC, as bankruptcy counsel and Hudspeth Law Firm as special counsel. ALL AMERICAN: To Sell New Port Richey to Dalton Kruse for $1.3MM ---------------------------------------------------------------- All American Holdings LLC and its affiliates, along with Alfredo O. Bonati as the Applicable Debtor, seek approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell real property, free and clear of liens and encumbrances. The Applicable Debtor real property is located at t 5240 Westshore Drive, New Port Richey, Florida. The property is encumbered by the lien of Kathy B. Scott in the approximate amount of $2.4 million. Applicable Debtor receives an offer from Dalton Kruse to purchase the property for $1,350,000.00, with closing to occur on or before April 21, 2025. The consummation of the proposed sale may involve the occurrence of and the payment of certain expenses, including certain appraisals, title insurance, and other normal costs of closing, payment of which should be made from the sales proceeds. The Debtor also proposes to 1.5% brokerage commission to Inspired Realty, LLC as its broker and 3% commission to the Purchaser's broker The Debtor aims to sell the Real Property free and clear of liens, claims, encumbrances, and interests. About All American Holdings LLC All American Holdings LLC is a limited liability company. All American Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02066) on April 1, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Catherine Peek McEwen handles the case. The Debtor is represented by Harry E. Riedel, Esq. at STICHTER, RIEDEL, BLAIN & POSTLER, P.A. ALL STAR TRANSPORTATION: Unsecureds to Get 19 Cents on Dollar ------------------------------------------------------------- All Star Transportation Group, LLC, filed with the U.S. Bankruptcy Court for the District of Nevada a Small Business Plan of Reorganization dated March 10, 2025. The Debtor, a Nevada limited liability corporation, operates a transportation services business in Reno, Nevada. The Debtor's business consists of two primary segments: (1) Debtor provides non-emergency medical transportation, which consists of transporting patients to and from doctor's appointments; and (2) Debtor provides "black car" transportation services, which typically consist transporting visitors to Lake Tahoe and Reno. Approximately 60% of Debtor's business is generated from medical transportations and the remaining 40% is from black car service. The Debtor's largest medical transportation clients had internal issues that led to delayed payments to Debtor for its services. To bridge the cash flow gap caused by the delayed payments, Debtor took out MCA loans. After continued delays in payments of Debtor's receivables, Debtor default on the MCA loans and other debt obligations. To compound Debtor's cash flow issues, one MCA lender took action to enforce UCC-1 liens against Debtor's receivables, which led to further interruptions in Debtor's cash flow and defaults in debt payments. On December 10, 2024, Debtor filed a voluntary petition under Chapter 11, Subchapter V, of the Bankruptcy Code to allow the Debtor to restructure its debt obligations. The Debtor will fund the Plan by contributing his "Disposable Income" for a period of 60-months. The Plan Proponent's financial projections show Debtor will have projected disposable income for the period of $2,500 per month. The final Plan payment is expected to be paid on June 31, 2030. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations of Debtor's businesses. Non-priority unsecured creditors holding allowed claims in Debtor's case will receive distributions, which the proponent of this Plan has valued at 19 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 11 consists of Non-priority Unsecured Creditors. Each holder of a Class 11 non-priority unsecured Allowed Claim shall receive their pro rata share of Debtor's Disposable Income, after the payment in full of Administrative Claims, through the end of the Plan Term (the "Class 11 Plan Dividend"). Any portion of a Class 11 nonpriority general unsecured claim in excess of the Class 11 Plan Dividend shall be discharged in accordance with Article 9 of this Plan. The allowed unsecured claims total $657,281. This Class will receive a distribution of $125,000 over 60 months. This Class is impaired. Class 12 consists of equity security holders of Debtor shall retain their interests in the Debtor, but shall receive no disbursement on account of such equity interest during the Plan Term. The Debtor will use its Disposable Income during the Plan Term, cash on hand, and profits from the operation of its business to fund the Plan. Commencing on the Effective Date of this Plan, Debtor's Disposable Income will be disbursed on a quarterly basis and used to fund Debtor's required Plan payments to allowed Class 11 Non-priority general unsecured creditors in the manner set forth in Section 7.02 of this Plan. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=4baZYE from PacerMonitor.com at no charge. Counsel to the Debtor: Kevin A. Darby, Esq. Tricia M. Darby, Esq. Darby Law Practice, Ltd. 499 W. Plumb Lane, Suite 202 Reno, NV 89509 Tel: (775) 322-1237 Fax: (775) 996-7290 E-mail: kevin@darbylawpractice.com tricia@darbylawpractice.com About All Star Transportation Group All Star Transportation Group, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 24-51229) on Dec. 10, 2024, with $917,504 in assets and $1,303,069 in liabilities. Tim Ledesma, manager of All Star, signed the petition. Judge Hilary L. Barnes oversees the case. Kevin A Darby, Esq., at Darby Law Practice, is the Debtor's bankruptcy counsel. ALLBANK CORP: Chapter 15 Case Summary ------------------------------------- Chapter 15 Debtor: AllBank, Corp. Bella Vista, Calle 58, PH Office One Floor 8, Office 806 Panama City, Panama Business Description: Before it was forced into liquidation, AllBank, Corp. provided a range of personal and commercial banking services, including savings and checking accounts, term deposits, and various loan products. The Debtor was incorporated in Panama on Jan. 24, 2011. Foreign Proceeding: Compulsory liquidation by the Superintendency of Banks of Panama through resolution SBP-0205-2019 Chapter 15 Petition Date: April 1, 2025 Court: United States Bankruptcy Court Southern District of Florida Case No.: 25-13609 Foreign Representative: Rafael Moscarella Valladares Calle 58 Este, PH Office One, Ofic. 806 Obarrio, Panama City Panama Foreign Representative's Counsel: Edward H. Davis, Jr., Esq. SEQUOR LAW 1111 Brickell Avenue, Suite 1250 Miami, FL 33131 Tel: 305-372-8282 Email: edavis@sequorlaw.com Estimated Assets: Unknown Estimated Debt: Unknown A full-text copy of the Chapter 15 petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/DGUBQJA/AllBank_Corp__flsbke-25-13609__0001.0.pdf?mcid=tGE4TAMA ALTRA SERVICE: Unsecured Creditors to Split $9,100 over 3 Years --------------------------------------------------------------- Altra Service Professionals Inc. filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated March 10, 2025. The Debtor is a Florida Profit Corporation incorporated by Articles of Incorporation filed with the Florida Secretary of State on May 3, 2010. The Debtor repairs medical equipment for both medical companies and individuals. The Debtor works with all sizes of health care providers, from smaller one-site companies to large national organizations, and also performs repairs for people that own their equipment. The Debtor's principal place of business is located at 5640 SW 6th Place, Ste 600, Ocala, FL 34474 ("Premises"), which the Debtor leases from Aircome LLC (a noninsider). The Debtor's projected Disposable Income over the life of the Plan is $9,086.00. This Plan provides for: 4 classes of secured claims; 1 class of unsecured claims; and 1 class of equity security holders. Class 5 consists of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of $9,100.00. Payments will be made in equal quarterly payments of $758.33. Payments shall commence on the fifteenth day of the month, on the first month that begins more than ninety days after the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to §1191, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of its projected Disposable Income, $9,086.00. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee which will be billed hourly at the Subchapter V Trustee's then current allowable blended rate. Plan Payments shall commence on the fifteenth day of the month, on the first month that is ninety days after the Effective Date and shall continue quarterly for eleven additional quarters. The quarterly payment for the first four quarters shall be $663.00. The quarterly payments for the second four quarters shall be $1,098.00. The quarterly payments for the final four quarters shall be $510.50. Holders of Class 5 claims shall be paid directly by the Debtor. Class 6 consists of any and all equity interests and warrants currently issued or authorized in the Debtor. This Class is Unimpaired. Holders of Class 6 interests shall retain their full equity interest in the same amounts, percentages, manner and structure as existed on the Petition Date. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=hGIjxE from PacerMonitor.com at no charge. Attorneys for the Debtor: Jeffrey S. Ainsworth, Esq. Cole B. Branson, Esq. BransonLaw, PLLC 1501 E. Concord Street Orlando, Florida 32803 Telephone (407) 894-6834 Fax (407) 894-8559 E-mail: jeff@bransonlaw.com E-mail: cole@bransonlaw.com About Altra Service Professionals Altra Service Professionals Inc. is a medical equipment service and repair company in Ocala, Fla., specializing in home respiratory medical equipment repairs for portable oxygen concentrators and CPAP machines. It is an authorized service center for Philips Respironics and ResMed. Altra Service Professionals sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-03753) on December 10, 2024, listing total assets of $190,482 and total liabilities of $1,075,332. Robert DeChello, president of Altra Service Professionals, signed the petition. Judge Jacob A. Brown handles the case. Jeffrey S. Ainsworth, Esq., at BransonLaw, PLLC is the Debtor's bankruptcy counsel. Secured creditor Five Star Bank is represented by: George L. Zinkler, III, Esq. Lorium Law 101 Northeast Third Avenue, Suite 1800 Fort Lauderdale, FL 33301 Telephone: (954) 462-8000 Facsimile: (954) 462-4300 gzinkler@loriumlaw.com AMERICAN TRADERS: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: American Traders, Inc. d/b/a Modesto Hotel / La Casa Modesto 1720 Sisk Road Modesto, CA 95350 Business Description: American Traders, Inc. operates the Modesto Hotel, also known as La Casa Modesto, offering comfortable accommodations with amenities like free Wi-Fi, parking, an outdoor pool, and a complementary breakfast in Modesto, CA. Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court Eastern District of California Case No.: 25-90262 Judge: Hon. Ronald H Sargis Debtor's Counsel: Richard Jare, Esq. RICHARD JARE 6440 Carolinda Drive Granite Bay, CA 95746 Tel: (916) 995-1347 Fax: (916) 365-4648 E-mail: chapter13bankruptcy@yahoo.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million Daljeet Mann, in his role as chief financial officer, signed the petition. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NRXWOVQ/American_Traders_Inc__caebke-25-90262__0001.0.pdf?mcid=tGE4TAMA AMERIGLASS CONTRACTOR: Files Emergency Bid to Use Cash Collateral ----------------------------------------------------------------- Ameriglass Contractor Corp. asked the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, for authority to use cash collateral on an interim basis until the last week of April. The Debtor needs to use cash collateral to pay the rent in order to preserve its existing assets. The creditors that may assert an interest in the Debtor's cash collateral are the U.S. Small Business Administration, Southstate Bank, N.A., Funding Metrics, and M&D Capital NY LLC. The Debtor believes that the SBA as the first lienholder is protected by the filing of its Chapter 11 case as the filing prevented the creditors with inferior positions from withdrawing funds from the Debtor by electronic transfer. New revenues will be generated by the completion of work in progress. At this time, the Debtor simply seeks to pay monthly administrative rent in the amount of $3,159. The Debtor will eliminate or reduce expenses to the best of its ability and provide a budget for May based upon collections in the month of April. Southstate Bank is represented by: Raye C. Elliott, Esq. Akerman, LLP 401 East Jackson Street, Suite 1700 Tampa, FL 33602 Phone: (813) 223-7333 Fax: (813) 223-2837 raye.elliott@akerman.com About Ameriglass Contractor Corp Ameriglass Contractor Corp. specializes in residential and commercial glass repair and replacement services in the Fort Lauderdale, Florida area. It offers a range of services, including window and sliding door repairs, storefront glass repairs, and high-impact window installations. The company operates 24/7, providing emergency glass repair services. Ameriglass Contractor Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-12349) on March 4, 2025. In its petition, the Debtor reported total assets of $423,551 and total liabilities of $1,389,948. Judge Scott M. Grossman handles the case. Susan D. Lasky, Esq., serves as the Debtor's counsel. ASPIRA WOMEN'S: Celeste Fralick Steps Down as Director ------------------------------------------------------ Aspira Women's Health Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission announced the resignation of Celeste Fralick as a director of the Company effective March 31, 2025. About Aspira Women's Health Formerly known as Vermillion, Inc., Aspira Women's Health Inc. -- http://www.aspirawh.com-- is dedicated to the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in the diagnosis of gynecologic diseases. OvaWatch and Ova1Plus are offered to clinicians as OvaSuiteSM. Together, they provide a comprehensive portfolio of blood tests to aid in the detection of ovarian cancer for the 1.2+ million American women diagnosed with an adnexal mass each year. OvaWatch provides a negative predictive value of 99% and is used to assess ovarian cancer risk for women where initial clinical assessment indicates the mass is indeterminate or benign, and thus surgery may be premature or unnecessary. Ova1Plus is a reflex process of two FDA-cleared tests, Ova1 and Overa, to assess the risk of ovarian malignancy in women planned for surgery. Boston, Massachusetts-based BDO USA, P.C., the Company's auditor since 2012, issued a "going concern" qualification in its report dated March 27, 2025, attached in the Company's Form 10-K Report for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations and expects to continue to incur substantial losses in the future, which raise substantial doubt about its ability to continue as a going concern. AVALON SAI: Section 341(a) Meeting of Creditors on May 7 -------------------------------------------------------- On March 31, 2025, Avalon Sai Hotels LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filing, the Debtor reports $5,563,263 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on May 7, 2025 at 10:30 AM, US Trustee Houston Teleconference. About Avalon Sai Hotels LLC Avalon Sai Hotels LLC is a real estate firm and the owner of the Comfort Inn in Houston, Texas. Avalon Sai Hotels LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-31798) on March 31, 2025. In its petition, the Debtor reports total assets of $6,662,000 and total debts of $5,563,263. The Debtor is represented by Richard L Fuqua, II, Esq. at FUQUA & ASSOCIATES, P.C. AVALON SUGAR: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, Avalon Sugar Land Hospitality LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filing, the Debtor reports $13,851,944 in debt owed to 1 and 49 creditors. The petition states funds will not be available to unsecured creditors. About Avalon Sugar Land Hospitality LLC Avalon Sugar Land Hospitality LLC is a single-asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)) that owns the Hampton Inn in Sugar Land, Texas. Avalon Sugar Land Hospitality LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-31802) on March 31, 2025. In its petition, the Debtor reports total assets of $19,375,000 and total debts of $13,851,944. The Debtor is represented by Richard L Fuqua, II, Esq. at FUQUA & ASSOCIATES, P.C. AZZUR GROUP: Creditors Label $61MM DIP Rollup as Excessive ---------------------------------------------------------- Rick Archer of Law360 reports that on Friday, April 4, 2025, unsecured creditors of Azzur Group urged a Delaware bankruptcy judge to reject a proposed $84.5 million Chapter 11 financing package, contending that a large portion of the funds would be used to roll up the biotech consulting firm's pre-bankruptcy debt. About Azzur Group Holdings Azzur Group Holdings, a Pennsylvania-based professional services company operates across multiple locations including Boston, Chicago, San Diego, and San Francisco, providing specialized life sciences services including consulting, laboratory testing, cleanrooms-on-demand, and technical training services. Azzur Group Holdings and more than 30 of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10342) on March 2, 2025. In their petitions, the Debtors reported estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Karen B. Owens handles the cases. DLA Piper LLP represents the Debtors as general bankruptcy counsel. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors, Brown Gibbons Lang & Co. Securities Inc. acts as investment banker, and Stretto Inc. acts as claims and noticing agent. AZZUR GROUP: Gets OK to Hire DLA Piper LLP (US) as Counsel ---------------------------------------------------------- Azzur Group Holdings, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ DLA Piper LLP (US) as counsel. The firm will render these services: (a) advise the Debtors of their rights, powers and duties as debtors and debtors in possession, while operating and managing their business and property under chapter 11 of the Bankruptcy Code; (b) prepare on behalf of the Debtors all necessary and appropriate applications, motions, proposed orders, other pleadings, notices, schedules and other documents and reviewing all financial and other reports to be filed in these chapter 11 cases; (c) advise the Debtors concerning and prepare responses to, applications, motions, other pleadings, notices and other papers that may be filed by other parties in these chapter 11 cases; (d) advise the Debtors with respect to, and assist in the negotiation and documentation of asset purchase agreements or other definitive deal documentation, financing agreements, and related transactions; (e) advise the Debtors regarding actions to collect and recover property for the benefit of their estates; (f) advise the Debtors concerning executory contract and unexpired lease assumptions and assignments and rejections; (g) assist the Debtors in reviewing, estimating and resolving claims asserted against the Debtors' estates; (h) assist the Debtors in complying with applicable laws and governmental regulations; and (i) provide any other services to the extent requested by the Debtors. The firm will be paid at these hourly rates: Stuart M. Brown (Partner) $2,085 W. Benjamin Winger (Partner) $1,585 Aaron S. Applebaum (Of Counsel) $1,425 Katherine J. Allison (Senior Attorney) $1,305 Stephanie B. Cohen (Associate) $1,200 Nicole McLemore (Associate) $1,085 Roxanne M. Eastes (Associate) $1,045 Corinne Smith (Associate) $795 William L. Countryman (Paralegal) $575 The firm received a retainer in the amount of $1,500,000. The following is provided in response to the request for additional information set forth in Paragraph D.1. of the Revised UST Guidelines: Question: Did DLA Piper agree to any variations from, or alternatives to, DLA Piper's standard billing arrangements for this engagement? Answer: No. DLA Piper and the Debtors have not agreed to a variation from DLA Piper's standard billing arrangements for this engagement. DLA Piper did offer the company a pre-petition discount for certain pre-petition services. DLA Piper offered the company a 12.5 percent discount on its pre-petition invoices. While the Engagement Letter does not provide for a discount on fees, DLA Piper continued to offer the company this discount for all pre-petition services consistent with a prior pre-petition retention letter. The rate structure provided by DLA Piper to the Debtors is appropriate and is not significantly different from (a) the rates that DLA Piper charges for other non-bankruptcy representations or (b) the rates of other comparably skilled professionals. Question: Do any of DLA Piper's professionals in this engagement vary their rate based on the geographic location of the Debtors' chapter 11 cases? Answer: No. The hourly rates used by DLA Piper in representing the Debtors are consistent with the rates that DLA Piper charges other comparable chapter 11 clients, regardless of the location of the chapter 11 case. Question: If DLA Piper has represented the Debtors in the 12 months pre-petition, disclose DLA Piper's billing rates and material financial terms for the pre-petition engagement, including any adjustments during the 12 months pre-petition. If DLA Piper's billing rates and material financial terms have changed post petition, explain the difference and the reasons for the difference. Answer: DLA Piper's current hourly rates, for services rendered on behalf of the Debtors range as follows: Partners $1,585 to $2,085 Of Counsel $1,425 Associates & Attorneys $795 to $1,305 Paraprofessionals $575 Question: Have the Debtors approved DLA Piper's budget and staffing plan, and, if so, for what budget period? Answer: Yes, for the period from March 2, 2025 through May 2, 2025. Stuart M. Brown, Esq., a partner at DLA Piper, 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 at: Stuart M. Brown, Esq. DLA Piper LLP (US) 1201 North Market Street, Wilmington, DE 19801 Tel: (302) 468-5640 Email: stuart.brown@us.dlapiper.com About Azzur Group Holdings Azzur Group Holdings Pennsylvania-based professional services company operates across multiple locations including Boston, Chicago, San Diego, and San Francisco, providing specialized life sciences services including consulting, laboratory testing, cleanrooms-on-demand, and technical training services. Azzur Group Holdings and more than 30 of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10342) on March 2, 2025. In their petitions, the Debtors reported estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Karen B. Owens handles the cases. DLA Piper LLP represents the Debtors as general bankruptcy counsel. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors, Brown Gibbons Lang & Co. Securities Inc. acts as investment banker, and Stretto Inc. acts as claims and noticing agent. AZZUR GROUP: Gets OK to Hire M. Benjamin Jones of Ankura as CRO --------------------------------------------------------------- Azzur Group Holdings, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ Ankura Consulting Group, LLC as their restructuring advisor and designate M. Benjamin Jones as chief restructuring officer. The firm will render these services: a) advise and assist the Debtors and their other advisors in connection with the Debtors' identification, evaluation, and development of restructuring strategies and tactics; b) review the Debtors' existing cash flow forecasts, and to the extent necessary, provide observations and feedback to assist management in refining cash flow forecasting models and methodologies; c) analyze scenarios and evaluate short and long-term liquidity; conduct oversight of treasury functions, including reviewing all accounts receivable and accounts payable and review contracts and leases; d) participate in or lead communications and negotiations with the Debtors' stakeholders, including, but not limited to, secured creditors, unsecured creditors, landlords, regulatory agencies, suppliers, and other parties in interest and assist in the preparation of due diligence information and reports provided to such parties; e) advise and assist management regarding responding to due diligence requests from the Debtors' stakeholders, potential buyers, and potential capital sources; f) in the event the Debtors elect to prepare for a court-assisted restructuring process, direct and oversee Ankura Consulting's provision of restructuring-related services; g) take all reasonable and necessary actions in furtherance of the Services at the direction of the Board of Managers for the Debtors. Ankura Consulting will provide these additional resources to assist the CRO: a) advise and assist the Debtors and their legal counsel with development of a filing strategy and reorganization plan; b) assist the Debtors and their other retained professionals in preparing for a filing under chapter 11 of the United States Bankruptcy Code, including all support necessary related to petitions, first day motions and other filings; c) serve as the Debtors' representative for purposes of the filing and court hearings; d) assist the Debtors and their other retained professionals in securing financing necessary to administer the case, including supporting the Debtors' development of a budget satisfactory to a debtor-in-possession (DIP) lender and negotiation of a DIP credit facility, interim and final DIP orders and/or cash collateral orders; e) assist in the formulation. development, negotiation and approval of any Disclosure Statement and Chapter 11 Plan filed in the chapter 11 case; f) assist the Debtors with respect to bankruptcy-related claims estimation, management and reconciliation processes; g) review and provide feedback regarding the Debtors' reporting required during the Bankruptcy restructuring process including, but not limited to, Monthly Operating Reports, creditor matrices, Statements of Financial Affairs, and Schedules of Assets and Liabilities; and h) perform other professional services as requested by the Debtors and are directly related to the Debtors' preparation for entrance into or administration of a bankruptcy restructuring proceeding. The firm will be paid at these hourly rates: Senior Managing Director $1,300 to $1,455 Managing Director $1,075 to $1,205 Director/Senior Director $740 to $1,020 Associate/Senior Associate $495 to $680 Paraprofessionals $380 to $440 Ankura Consulting received $1,502,286.50 in aggregate for professional services performed and expenses incurred, including the retainer. M. Benjamin Jones is a Senior Managing Director at Ankura, assured the court that his firm is "disinterested" as such term is defined in Bankruptcy Code section 101(14). The firm can be reached through: M. Benjamin Jones Ankura Consulting Group, LLC 485 Lexington Avenue, 10th Floor New York, NY 10017 Phone: (212) 818-1555 Email: ben.jones@ankura.com About Azzur Group Holdings Azzur Group Holdings Pennsylvania-based professional services company operates across multiple locations including Boston, Chicago, San Diego, and San Francisco, providing specialized life sciences services including consulting, laboratory testing, cleanrooms-on-demand, and technical training services. Azzur Group Holdings and more than 30 of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10342) on March 2, 2025. In their petitions, the Debtors reported estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Karen B. Owens handles the cases. DLA Piper LLP represents the Debtors as general bankruptcy counsel. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors, Brown Gibbons Lang & Co. Securities Inc. acts as investment banker, and Stretto Inc. acts as claims and noticing agent. AZZUR GROUP: Gets OK to Hire Stretto Inc as Administrative Advisor ------------------------------------------------------------------ Azzur Group Holdings, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ Stretto, Inc. as administrative advisor. The firm will provide these services: a. assist with, among other things, solicitation, balloting, and tabulation of votes; prepare any related reports, as required in support of confirmation of a chapter 11 plan; b. prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; c. assist with the preparation of the Debtors' schedules of assets and liabilities and statements of financial affairs and gather data in conjunction therewith; d. assist with the preparation of the Debtors' monthly operating reports and gather data in conjunction therewith; e. provide a confidential data room; f. manage and coordinate any distributions pursuant to a chapter 11 plan if designated as distribution agent under such plan; and g. provide claims analysis and reconciliation, case research, depository management, treasury services, confidential online workspaces or data rooms, and any related services otherwise required by applicable law, governmental regulations, or court rules or orders in connection with these Chapter 11 Cases. Prior to the Petition Date, the Debtors paid Stretto with an advance retainer in the amount of $10,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Sheryl Betance, a partner at Stretto, Inc., 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: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 Email: sheryl.betance@stretto.com About Azzur Group Holdings Azzur Group Holdings Pennsylvania-based professional services company operates across multiple locations including Boston, Chicago, San Diego, and San Francisco, providing specialized life sciences services including consulting, laboratory testing, cleanrooms-on-demand, and technical training services. Azzur Group Holdings and more than 30 of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10342) on March 2, 2025. In their petitions, the Debtors reported estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Karen B. Owens handles the cases. DLA Piper LLP represents the Debtors as general bankruptcy counsel. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors, Brown Gibbons Lang & Co. Securities Inc. acts as investment banker, and Stretto Inc. acts as claims and noticing agent. BEXIN REALTY: Court Extends Cash Collateral Access to April 28 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York issued a fourth interim order extending Bexin Realty Corporation's authority to use its lender's cash collateral through April 28. The fourth interim order authorized the company to use the cash collateral of Cathay Bank to pay the expenses set forth in its budget, with a 10% variance. As protection, Cathay Bank will be granted replacement liens on Bexin's assets subordinate only to certain carve-outs, including U.S. trustee fees and clerk's filing fees. The bank will also be granted a superpriority administrative expense claim senior to all other administrative expense claims and unsecured claims against the company's estate. The company's authority to use cash collateral will terminate if certain events occur, including a default under the order; a conversion of the company's Chapter 11 case to one under Chapter 7; or the appointment of a Chapter 11 trustee. A final hearing is scheduled for April 28. About Bexin Realty Corporation Bexin Realty Corporation is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). Bexin Realty filed Chapter 11 petition (Bankr. S.D.N.Y. Case No. 24-12080) on November 27, 2024, listing between $10 million and $50 million in both assets and liabilities. Bahram Benaresh, president of Bexin Realty, signed the petition. Judge Martin Glenn handles the case. The Debtor is represented by Jonathan S. Pasternak, Esq., at Davidoff Hutcher & Citron, LLP. Cathay Bank, as lender, is represented by: Conrad K. Chiu, Esq. Amanda Schaefer, Esq. Pryor Cashman LLP 7 Times Square New York, NY 10036-6569 Telephone: (212) 421-4100 Facsimile: (212) 326-0806 cchiu@pryorcashman.com aschaefer@pryorcashman.com BLUE BIOFUELS: Posts $1.4M Loss for 2024, 'Going Concern' Warning ----------------------------------------------------------------- Blue Biofuels, Inc. filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission, reporting a net loss of $1,418,981 for the year ended December 31, 2024, as compared to a net loss of $3,055,194 in 2023. This was primarily attributed to a gain on extinguishment of debt of $2,417,502. For the year ended December 31, 2024, the Company recognized $0 in revenue and $0 in 2023. Spokane, Washington-based Assure CPA, LLC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 19, 2025, citing that the Company has accumulated losses since inception and has negative working capital. These factors raised substantial doubt about its ability to continue as a going concern. The Company has not generated any significant revenue since inception and has incurred losses since inception. As of December 31, 2024, the Company has incurred accumulated losses of $57,255,761. The Company expects to incur significant additional losses and liabilities in connection with its start-up and commercialization activities. These factors, among others, raise substantial doubt as to the Company's ability to continue as a going concern. The Company's ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and repay its liabilities when they become due and to generate sufficient revenues from its operations to pay its operating expenses. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/2traypsc About Blue Biofuels Inc. Blue Biofuels, Inc., was incorporated in Nevada on March 28, 2012, as Alliance Media Group Holdings, Inc. Since December 2013, Blue Biofuels, Inc. has been a technology company focused on emerging technologies in renewable energy, biofuels, and lignin. As of December 31, 2024, the Company had $1,389,587 in total assets, $4,235,490 in total liabilities, and $2,845,903 in total stockholders' deficit. BNB BATTERY: Court Extends Cash Collateral Access to June 25 ------------------------------------------------------------ BNB Battery, LLC received sixth interim approval from the U.S. Bankruptcy Court for the Northern District of Georgia to use cash collateral until June 25. The interim order signed by Judge Sage Sigler authorized the company to use cash collateral to pay operating expenses pursuant to its budget, with a 15% variance allowed. The budget outlines the company's projected expenses of $1,203,338.97 for the period from March 31 to August 3. Pinnacle Bank and Corporation Service Company will be granted replacement liens on BNB's assets that are of the same type as their pre-bankruptcy collateral in case of any diminution in the value of their interest in such collateral. As additional protection, BNB will make interest-only payments of $17,500 per month to Pinnacle Bank on April 11, May 9 and June 13. If BNB defaults on the terms of the sixth interim order, Pinnacle Bank may file a motion of default with the court and the court may enter an order prohibiting the company's future use of the cash collateral. A final hearing is set for June 25. Pinnacle Bank can be reached through its counsel: Michael B. Pugh, Esq. Thompson O'Brien Kappler & Nasuti, P.C. 2 Sun Court, Suite 400 Peachtree Corners, GA 30092 MPugh@tokn.com About BNB Battery BNB Battery, LLC is an operator of a bar and restaurant serving in Atlanta, Ga. BNB Battery filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-54144) on April 24, 2024, with up to $1 million in assets and up to $10 million in liabilities. Gary Murphey serves as Subchapter V trustee. Judge Sage M. Sigler oversees the case. Mark Gensburg, Esq., at Jones & Walden, LLC is the Debtor's legal counsel. Pinnacle Bank and Corporation Service Company, as secured creditor, is represented by Michael B. Pugh, Esq., at Thompson O'Brien Kappler & Nasuti, P.C. Mr. Pugh may be reached through: Michael B. Pugh, Esq. Thompson O'Brien Kappler & Nasuti, P.C. 2 Sun Court, Suite 400 Peachtree Corners, GA 30092 MPugh@tokn.com BRECKLING LLC: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Breckling LLC 125 Neck Path East Hampton, NY 11937 Business Description: Breckling LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-71301 Judge: Hon. Louis A Scarcella Debtor's Counsel: Vivian Sobers, Esq. SOBERS LAW PLLC 11 Broadway Suite 615 New York, NY 10004 Tel: (917) 225-4501 Email: vsobers@soberslaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Wentzer Maeller as president. A list of the Debtor's 20 largest unsecured creditors was not provided alongside the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EGGGHCI/Breckling_LLC__nyebke-25-71301__0001.0.pdf?mcid=tGE4TAMA BURGERFI INT'L: CP7 Entities No Longer Hold Shares -------------------------------------------------- CP7 Management, LLC, CP7 Warming Bag, L.P., J. Michael Chu, and Scott A. Dahnke disclosed in a Schedule 13D/A filed with the U.S. Securities and Exchange Commission that as of March 17, 2025, they no longer beneficially own any shares of BurgerFi International, Inc.'s common stock, $0.0001 par value per share, representing 0.0% of the outstanding shares. Their holdings were canceled and extinguished without consideration in connection with the company's Chapter 11 bankruptcy proceedings and liquidation plan. CP7 Warming may be reached through: Scott A. Dahnke, Authorized Person CP7 Management, LLC 599 West Putnam Avenue Greenwich, CT, 06830 203-629-4901 A full-text copy of the CP7 Warming's SEC Report is available at: https://tinyurl.com/3kanrkf9 About BurgerFi Int'l BurgerFi International, Inc. (NASDAQ:BFI) is a multi-brand restaurant company that develops, markets, and acquires fast casual and premium-casual dining restaurant concepts around the world, including corporate-owned stores and franchises. BurgerFi International, Inc. is the owner and franchisor of two brands with a combined 144 locations: (i) Anthony's, a premium pizza and wing brand with 51 restaurants (50 corporate-owned casual restaurant locations and one dual brand franchise location), as of Sept. 10, 2024, and (ii) BurgerFi, among the nation's fast-casual better burger concepts with 93 BurgerFi restaurants (76 franchised and 17 corporate-owned) as of Sept. 10, 2024. BurgerFi International, Inc., and 114 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code on Sept. 11, 2024 (Bankr. D. Del. Lead Case No. 24-12017). The cases are pending before the Honorable Judge Craig T. Goldblatt. Raines Feldman Littrell LLP serves as the Debtors' counsel. Force Ten Partners' Jeremy Rosenthal serves as the Company's Chief Restructuring Officer. Sitrick And Company serves as strategic communications advisor to the Company. Stretto is the claims agent. CAPSTONE COMPANIES: Reports $962K Net Loss in 2024 -------------------------------------------------- Capstone Companies, Inc. filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission, reporting net losses of $962,384 and $1,696,439 for fiscal 2024 and 2023, respectively. For the year ended December 31, 2024, net revenues were $143,269, a decrease of 25% from $192,176, in fiscal 2023. Margate, Fla.-based Assurance Dimensions, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 17, 2025, citing that the Company has incurred recurring operating losses, has incurred negative cash flows from operations and has an accumulated deficit. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. During the year ended December 31, 2024, the Company used cash in operations of approximately $290,000 and generated net operating losses of $996,000. As of December 31, 2024, the Company had a working capital deficit of $144,755 and an accumulated deficit of $11,784,360. The Company's cash balance decreased by approximately $20,000 from $36,000 as of December 31, 2023, to $16,000 as of December 31, 2024. With the reduced revenues in 2024 and 2023 the Company initiated an expense mitigation plan that reduced discretionary spending including travel, and trade show expenses, deferred executive management compensation, and closed the Hong Kong operation. The Company is actively seeking alternative sources of liquidity, including but not limited to accessing the capital markets, strategic partnerships, or other alternative financing measures but has been unable to secure unrelated, long-term funding or secure other sources of liquidity. As stated, the Company's low market price for its common stock and poor financial condition and performance hinder these efforts. Besides the efforts to license the Connected Chef kitchen appliance product, the Company is seeking to establish revenue generating operations in the HFS business by internal development of HFS operations or acquiring or being acquired by an existing, operating HFS company. Management is closely monitoring its operations, liquidity, and capital resources and is actively working to minimize the current and future impact of this unprecedented situation. Director and former Chief Executive Officer, Stewart Wallach, has funded working capital since 2022 as the Company navigates these challenges. Total working capital note proceeds received as of the date of this filing are $672,500. Coppermine has funding working capital beginning in 2024. Total working capital note proceeds received as of the date of this filing of the Form 10-K report from Coppermine are $292,295. Coppermine has committed to lending a total of $485,163 in working capital funding through September 30, 2025. However, there is no assurance that level of funding provided by Coppermine will be adequate to meet the operating needs, licensing expenses and operating expenses of a potential business combination during 2025. The Company does not have sufficient cash on hand to finance its plan of operations for the next 12 months from the date of the filing of this report and will need to seek additional capital through debt and/or equity financing. As of December 31, 2024, the Company had $838,117 in total assets, $377,018 in total liabilities, and $461,099 in total stockholders' equity. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/capc10k About Capstone Companies Inc. Deerfield Beach, Fla.-based Capstone Companies, Inc. is a public holding company organized under the laws of the State of Florida. The Company is a designer, manufacturer and marketer of consumer products that are designed to simplify daily living through technology. CARROLLTON GATEWAY: Taps Holmgren Johnson as Special Counsel ------------------------------------------------------------ Carrollton Gateway Development Partners, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Dennis M. Holmgren and Mitchell Madden of Holmgren Johnson: Mitchell Madden, LLP as special counsel. The firm's services include: (i) prosecuting and defending the claims in the Namhawk Adversary, (ii) prosecuting and defending the claims in the Enforcement Adversary, and (iii) prosecuting and defending any claims against the Debtor in any other action filed by or involving Namhawk. Mr. Holmgren, through a holding company, indirectly owns 33.33% of the Debtor. He serves as a control person of the Debtor. As such, Mr. Holmgren is not charging the Debtor directly for his legal fees. While Mr. Holmgren is an indirect equity interest holder and control person of the Debtor, his personal interests are completely aligned with the Debtor. Those interests are not adverse to the Debtor's interests. The counsel can be reached through: Dennis M. Holmgren, Esq. Mitchell Madden, Esq. Holmgren Johnson: Mitchell Madden, LLP 12801 N Central Expy, Ste 140 Dallas, TX 75243-1703 Phone: (972) 484-7780 Fax: (972) 484-7743 Email: dennis@hjmmlegal.com About Carrollton Gateway Development Partners, LLC Carrollton Gateway Development Partners LLC is engaged in activities related to real estate. Carrollton Gateway Development Partners LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-33585) on November 5, 2024. In the petition filed by Dennis M. Holmgren, as Manager of Urban Planning Partners, LLC, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. The Debtor is represented by Dennis M. Holmgren, Esq. at HOLMGREN JOHNSON: MITCHELL MADDEN, LLP. CATONA CLIMATE: Seeks Chapter 11 Bankruptcy in Delaware ------------------------------------------------------- On March 31, 2025, Catona Climate Solutions LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Catona Climate Solutions LLC Catona Climate Solutions LLC is a provider of climate and sustainability services specializing in carbon credits. Catona Climate Solutions LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10605) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. The Debtor is represented by William F. Taylor, Jr, Esq. at Whiteford, Taylor & Preston LLC. CBAK ENERGY: Swings to $9.6 Million Net Income in 2024 ------------------------------------------------------ CBAK Energy Technology, Inc. filed with the Securities and Exchange Commission its Annual Report on Form 10-K reporting a net income of $9.6 million in the fiscal year ended December 31, 2024, compared to a net loss of $8.5 million in the fiscal year ended 2023. As of December 31, 2024, the Company had an accumulated deficit of $122.6 million and net assets of $120.1 million. Revenues of $176.6 million and $204.4 million for the fiscal years ended December 31, 2024 and 2023, respectively. Hong Kong, China-based ARK Pro CPA & Co, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 17, 2025, citing that the Company has a working capital deficiency, accumulated deficit from recurring net losses incurred for the prior years and significant short-term debt obligations maturing in less than one year as of December 31, 2024. All these factors raise substantial doubt about its ability to continue as a going concern. The Company plans to improve its profitability, renew its bank borrowings upon maturity and raise additional funds through bank borrowings and equity financing to meet our daily cash demands. However, there can be no assurance that it will be successful in executing such plans or obtaining additional equity or debt financing on acceptable terms. Management Comments: Zhiguang Hu, Chief Executive Officer of the Company, stated, "We are pleased to announce a 36.33% increase in gross profit for our battery segment, reaching US$43.05 million. The gross profit margin also expanded significantly to 31.5%. Even more impressively, net income for the battery segment rose to $19.43 million in 2024, reflecting a substantial growth of 39.08%. These exceptional results are particularly noteworthy as they surpass those of many industry competitors, including leading Chinese battery manufacturers, despite the prevailing challenges and downturn in the broader new energy sector. Furthermore, with demand for our Model 32140 exceeding supply, we are actively expanding production capacity to meet this surge. Looking ahead, we are confident in our ability to sustain profitability in the battery segment for the coming year." Jiewei Li, Chief Financial Officer and Secretary of the Board, commented, "While Mr. Hu highlighted the strong performance of our battery segment, our consolidated financial results also showed a remarkable turnaround--from a net loss in 2023 to a net income attributable to shareholders of CBAK Energy of US$11.79 million in 2024. This was achieved despite a modest decline in consolidated net revenues to US$176.61 million, primarily due to the performance of our raw materials production segment, Hitrans. Notably, even with lower consolidated net revenues, we delivered a gross profit margin of 23.65%, representing a significant improvement of 8.13 percentage points compared to last year. These results underscore the robust profitability of our battery segment. We remain confident that the continued growth of this segment will further enhance our consolidated financial performance. Additionally, having fully met all financial obligations to Hitrans, and given that Hitrans' products are not integrated into our supply chain, its financial performance does not materially impact our business, this is why we have focused on reporting the metrics of our battery segment." A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/cbakenergy10K About CBAK Energy Technology Liaoning Province, People's Republic of China-based CBAK Energy -- www.cbak.com.cn -- is a manufacturer of new energy high power lithium and sodium batteries that are mainly used in light electric vehicles, electric vehicles, energy storage such as residential energy supply & uninterruptible power supply (UPS) application, and other high-power applications. The Company's primary product offering consists of new energy high power lithium and sodium batteries. In addition, after completing the acquisition of 81.56% of registered equity interests (representing 75.57% of paid-up capital) of Hitrans in November 2021, the Company entered the business of developing and manufacturing NCM precursor and cathode materials. Hitrans is a leading developer and manufacturer of ternary precursor and cathode materials in China, whose products have a wide range of applications on batteries that would be applied to electric vehicles, electric tools, high-end digital products, and storage, among others. As of Dec. 31, 2024, the Company had $302.2 million in total assets, $182.2 million in total liabilities, and $120.1 million in total equity. CEMTREX INC: To Pay Dividend on Series 1 Preferred Stock in Shares ------------------------------------------------------------------ Cemtrex, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors passed a resolution that the company will pay its dividend on Series 1 Preferred Stock in additional shares of Series 1 Preferred Stock to be issued today, to the holders of record on close of business on March 31, 2025. The holders of the Series 1 Preferred Stock are entitled to receive dividends at the rate of 10% annually, based on the $10.00 per share Preference Amount, payable semiannually. About Cemtrex Cemtrex, Inc. was incorporated in 1998 in the state of Delaware and has evolved through strategic acquisitions and internal growth into a multi-industry company. During the first quarter of fiscal year 2023, the Company reorganized its reporting segments to be in line with its current structure consisting of (i) Security, (ii) Industrial Services, and (iii) Cemtrex Corporate. Jericho, New York-based Grassi & Co, CPAs, P.C., the Company's auditor since 2021, issued a "going concern" qualification in its report dated Dec. 30, 2024, citing that the Company has sustained net losses and has significant short-term debt obligations, which raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, Cemtrex had $46,689,423 million in total assets, $48,178,944 in total liabilities, $70,013 in non-controlling interest, and $1,559,534 in total stockholders' deficit. CIMG INC: Signs Cooperation Deal With Huomao Cultural Development ----------------------------------------------------------------- CIMG Inc. announced that its wholly-owned subsidiary in China, Zhongyan Shangyue Technology Co., Ltd., has signed a Business Cooperation Intent Agreement with Shanghai Huomao Cultural Development Co., Ltd. In the future, both parties of the agreement will jointly operate Huomao's liquor industry and the dendrobium industry. Shanghai Huomao Cultural Development Co., Ltd. owns the premium Chinese liquor brand Huomao. Huomao redefines the drinking experience of high-end Chinese liquor through its unique brewing technology, offering a premium choice for global Chinese liquor enthusiasts that emphasizes the importance of both health and enjoyment. Pursuant to the agreement, three shareholders of Huomao intend to transfer an aggregate of 51% of their equity interest in Huomao to Zhongyan in exchange for 200,000 shares of CIMG's common stock, par value $0.00001 per share, to be issued to the designated parties. The Common Stock shall be subject to a six-month lock-up period. The parties to the Agreement plan to consummate the Transfer within 15 calendar days from the date of the Agreement. The Company also agreed to appoint Mr. Xiaocheng Hao as the Chief Executive Officer of Shanghai Huomao Cultural Development Co., Ltd. after the acquisition. Furthermore, the parties propose that CIMG grant incentive shares to Huomao's employees based on Huomao's sales performance following the completion of the Transfer, with the specific performance criteria and the terms of such incentive share grants to be determined through future agreements. Mr. Hao is 46 years old and holds a bachelor's degree in business administration from Central South University of Finance and Economics and a master's degree of business administration from Southwest Jiaotong University in China. He has held sales and management positions in multiple listed companies, with over 20 years of experience in sales and management. Ms. Jianshang Wang, Chief Executive Officer and Chairman of the Board of Directors of CIMG, remarked: "This cooperation will further expand our business footprint in the realm of comprehensive health industry, enhance the construction of the industry ecosystem, and foster the growth of the Company's performance." About CIMG Inc. Headquartered in Vista, California, CIMG Inc. (formerly Nuzee, Inc.) is a digital marketing, sales and distribution company for various consumer products with focuses on food and beverages. Dedicated to reshaping the digital marketing and distribution with technological applications, the Company endeavors to create greater commercial value for its business partners and therefore enhance its own enterprise value and shareholders' value of their stake in the Company. The Company has a professional brand and marketing management system, which can quickly help partnering enterprises achieve the connection, management, and operation of marketing channels domestically and globally. The Company has had limited revenues, recurring losses and an accumulated deficit. These items raise substantial doubt as to the Company's ability to continue as a going concern, according to the Company's Quarterly Report for the period ended June 30, 2024. The Company has not yet filed its Form 10-K for the fiscal year ended Sept. 30, 2023. CINEMA MANAGEMENT: Trustee Taps Focus Advisory as Financial Advisor ------------------------------------------------------------------- John Pringle, the trustee appointed in the Chapter 11 case of Cinema Management Group, LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Focus Advisory Services LLC as his financial advisor. The firm will render these services: a. analyze the Debtor's assets and preparing an appraisal report which provides an estimated value for its assets; b. package and market the assets for sale, create an electronic data room that prospective buyers can access to assist in such parties' due diligence efforts; c. address inquiries and coordinate requests for information from prospective buyers; d. advise the Trustee on the merits of any purchase offers; e. assist the Trustee in negotiating and documenting the terms for the sale of the Debtor's assets; and f. provide other related services as requested by the Trustee. The firm will be compensated at these fees: a. Focus will be paid a flat fee of $10,000 to conduct an appraisal of the Debtor's assets and prepare a written report detailing the results of such appraisal. b. Focus will be paid an upfront fee of $10,000 to create marketing materials and financial summaries, create and maintain an electronic data room, and provide any related testimony. c. Focus will also be paid a success fee: 1. 2.5 percent of the aggregate gross proceeds generated from a sale transaction up to $1,500,000; plus 2. 5.0 percent of the aggregate gross proceeds generated from a sale transaction up between $1,500,000 to $3,000,000; plus 3. 7.5 percent of the aggregate gross proceeds generated from a sale transaction over $3,000,000. Philip Fier, owner of Focus Advisory, disclosed in court filings that the firm and its members and employees are "disinterested persons" under the Bankruptcy Code. The firm can be reached through: Philip Fier Focus Advisory Services, LLC 11500 W Olympic Blvd Los Angeles, CA, 90064ï»¿ Phone: (323) 785-3005 Email: pfier@focusadvisoryservices.com About Cinema Management Group Cinema Management Group, LLC is an international sales company that was launched in 2003 and was previously headed by veteran sales and distribution executive, Edward Noeltner. Since 2003, the company has added over 80 feature film titles to its line-up. It currently holds distribution rights related to 82 feature films. Cinema Management Group filed Chapter 7 voluntary petition (Bankr. C.D. Cal. Case No. 24-20369) on December 20, 2024. The case was converted to one under Chapter 11 on February 6, 2025, and John Pringle was appointed as Chapter 11 trustee on February 10, 2025. Judge Neil W. Bason oversees the case. The Chapter 11 trustee is represented by Levene, Neale, Bender, Yoo & Golubchik L.L.P. CIVILGEO INC: Seeks Subchapter V Bankruptcy in Wisconsin -------------------------------------------------------- On April1, 2025, CivilGEO Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Wisconsin. According to court filing, the Debtor reports $1,283,472 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About CivilGEO Inc. CivilGEO Inc. specializes in creating intuitive CAD and GIS-based hydrologic engineering software for a global market. The Company's product lineup includes three key offerings: GeoHECRAS, GeoHECHMS, and GeoSTORM, with no other software available for purchase. CivilGEO's solutions are widely used by consulting engineers, public utilities, government agencies, and educational institutions across the U.S. for effective water resource management. CivilGEO's software is particularly focused on hydrologic simulation modeling, which involves designing and running computational models to simulate both surface and groundwater flow. CivilGEO Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-10731) on April 1, 2025. In its petition, the Debtor reports total assets as of February 28, 2025 amounting to $653,051 and total liabilities as of February 28, 2025 of $1,283,472. The Debtor is represented by Justin M. Mertz, Esq. at MICHAEL BEST & FRIEDRICH LLP. COMPLEX AT PORT: Nat Wasserstein Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 2 appointed Nat Wasserstein, Esq., at Lindenwood Associates, LLC as Subchapter V trustee for The Complex at Port Chester, LLC. Mr. Wasserstein will be paid an hourly fee of $485 for his services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Mr. Wasserstein declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Nat Wasserstein, Esq. Lindenwood Associates, LLC 328 North Broadway, 2nd Foor Upper Nyack, New York 10960 Telephone: (845) 398-9825 Facsimile: (212) 208-4436 Email: nat@lindenwoodassociates.com About The Complex at Port Chester The Complex at Port Chester, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22181) on March 5, 2025, listing between $50,001 and $100,000 in assets and between $10 million to $50 million in liabilities. Judge Sean H. Lane presides over the case. COWAN FITNESS: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Cowan Fitness North Round Rock, LLC got the green light from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral. At the hearing held on March 31, the court granted the Debtor's motion to use cash collateral on an interim basis and set a final hearing on the motion on April 15. The Debtor needs to use cash collateral to pay expenses of its business operations and the Chapter 11 case. First National Bank, formerly known as Yadkin Bank, the U.S. Small Business Administration and Firestone Financial/Berkshire Hathaway assert an interest in the Debtor's cash collateral. About Cowan Fitness South Round Rock Cowan Fitness South Round Rock LLC, also known as Orangetheory Fitness, is a global fitness studio franchise that specializes in heart-rate-based interval training through group classes. The Company's unique workout combines cardio and strength exercises to help members burn calories, build muscle, and improve overall fitness. Using real-time data tracking through the OTconnect system, Orangetheory personalizes each participant's workout to optimize results. With locations worldwide, the Company focuses on creating a supportive community where individuals of all fitness levels can achieve their health and fitness goals. Cowan Fitness South Round Rock sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 25-10395) on March 24, 2025. In its petition, the Debtor reported total assets of $81,003 and total liabilities of $1,006,184. Judge Shad Robinson handles the case. The Debtor is represented by Frank B. Lyon, Esq. CUTERA INC: Hires Hunton Andrews Kurth as Bankruptcy Co-Counsel --------------------------------------------------------------- Cutera, Inc. and Crystal Sub, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Hunton Andrews Kurth LLP as bankruptcy co-counsel. The firm will provide these services: a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their business; b) advise and consult on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c) attend meetings and negotiate with representatives of creditors and other parties in interest; d) take all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any actions commenced against the Debtors and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including prosecuting objections to claims filed against the Debtors' estates; e) preparing pleadings in connection with the Chapter 11 Cases, including motions, applications, answers, draft orders, reports and other documents necessary or otherwise beneficial to the administration of the Debtors' estates; f) representing the Debtors in connection with obtaining authority to use cash collateral and post-petition financing; g) appearing before the Court and any appellate courts to represent the interests of the Debtors' estates; h) taking any necessary actions on behalf of the Debtors to negotiate, prepare and obtain approval of a disclosure statement and confirmation of a chapter 11 plan of reorganization and all documents related thereto; i) advise the Debtors in connection with any sale of assets; j) provide corporate transactional, financing, environmental, employment, and other services to the Debtors to the extent requested by the Debtors; and k) perform all other necessary legal services for the Debtors in connection with the Chapter 11 Cases, which may include (i) the analysis of the Debtors' leases and executory contracts and the assumption, rejection or assignment thereof, (ii) the analysis of the validity of liens against the Debtors, and (iii) advice on corporate and litigation matters, including both pending and threatened litigation and the administration and resolution of claims. The firm will be paid at these hourly rates: Timothy A. Davidson II, Partner $1,405 Ashley L. Harper, Partner $1,045 Philip M. Guffy, Associate $995 Catherine Rankin, Associate $895 Brandon Bell, Associate $795 Kaleb Bailey, Associate $690 The Debtors paid Hunton an aggregate amount of $300,000 as advance payment retainers. The firm 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 UST Guidelines: Question: Did Hunton agree to any variations from, or alternatives to, Hunton's standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the Hunton professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the Debtors in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If Hunton's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Hunton's billing rates and material financial terms for its prepetition engagement of the Debtors are set forth in the Engagement Letter. Hunton's billing rates and material financial terms for Hunton's representation of the Debtors have not changed post-petition. Question: Have the Debtors approved Hunton's prospective budget and staffing plan, and, if so for what budget period? Response: Hunton has not prepared a budget and staffing plan. Timothy A. (Tad) Davidson II, Esq., a partner at Hunton Andrews Kurth, 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: Timothy A. (Tad) Davidson II, Esq. Hunton Andrews Kurth LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Telephone: (713) 220-3810 Email: taddavidson@HuntonAK.com About Cutera Inc. Cutera, Inc., offers aesthetic and dermatological solutions to medical professionals worldwide. The Company designs, manufactures, and sells energy-based product platforms for medical use, as well as distributes third-party skincare products. Its portfolio includes various system platforms such as AviClear, enlighten, excel HR, excel V/V+, truSculpt, Secret PRO, Secret DUO, Secret RF, xeo, and xeo+, which allow practitioners to perform a wide range of procedures. These procedures include treatments for acne, body contouring, skin resurfacing and rejuvenation, hair and tattoo removal, the elimination of benign pigmented lesions, and vascular conditions. Many of Cutera's systems feature multiple handpieces and applications, offering customers the flexibility to upgrade their equipment. Cutera Inc. and Crystal Sub, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90088) on March 5, 2025, with $200,881,854 in total assets and $480,459,932 in total liabilities. Taylor Harris, chief executive officer, signed the petition. Judge Alfredo R. Perez presides over the case. The Debtors tapped Hunton Andrews Kurth LLP as local bankruptcy counsel; Ropes & Gray LLP as general bankruptcy counsel; Houlihan Lokey Capital, Inc., as investment banker; FTI Consulting, Inc. as financial advisor and Kurtzman Carson Consultants, LLC d/b/a Verital Global as notice, claims, solicitation & balloting agent. CUTERA INC: Seeks to Hire FTI Consulting as Financial Advisor ------------------------------------------------------------- Cutera, Inc. and Crystal Sub, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire FTI Consulting Inc. as financial advisor. The firm will render these services: a. evaluate existing liquidity forecasts and methodology, as well as historical activity to determine major drivers of liquidity and cash flow; b. refine / build the Debtors' 13-week cash forecast / DIP model; c. review the Debtors' current business outlook and near-term business plan for purposes of cash flow modeling; d. understand management's internal forecasting processes; e. identify risks and opportunities in near- and long-term forecasts; f. review status of operations and relationships with critical customers and vendors; g. assist in negotiating the cash collateral order and any debtor in possession financing; h. assist in the preparation of the chapter 11 petitions, creditor matrix, list of top 30 creditors, and declarations; i. assist in the preparation of all first day motions and applications; j. assist the Debtors in working with the creditor groups and their counsel to prepare for the filing; k. assist the Debtors in analysis of restructuring plans and preparation and negotiation of any restructuring support agreements; l. assist in the development of management and employee incentive and/or retention plans, including a Key Employee Incentive Plan, if needed; m. assist with required cash management and cash reporting for a chapter 11 process; n. assist the Debtors, their counsel and other professionals with any other work necessary to prepare for the commencement of chapter 11; o. assist with developing accounting and operating procedures to segregate prepetition and post-petition business transactions; p. prepare Schedules of Assets and Liabilities and Statements of Financial Affairs, Monthly Operating Reports and all other required reporting to the bankruptcy court and United States Trustee's office, to the extent required; q. assist the Debtors in implementing all first day motions; r. provide ongoing assistance with cash management and reporting as required by creditors and the court; s. assist the Debtors and counsel in preparing required motions throughout the course of the cases; t. respond to all creditor groups throughout the restructuring process, as directed by the Debtors; u. assist the Debtors in detailed analysis of restructuring plans, development of required support for any plan of reorganization and assistance in implementation of such plans as determined by the Debtors; v. assist in negotiations of a plan of reorganization; w. assist legal counsel in drafting all plan documents, including a disclosure statement, liquidation analysis, projections and supporting declarations; x. provide testimony and other litigation support requested by the Debtors or their counsel; and y. provide other services as requested by the Debtors. The firm will render these services: Senior Managing Directors $1,185 to $1,525 Directors / Senior Directors / Managing Directors $890 to $1,155 Consultants/Senior Consultants $485 to $820 Administrative / Paraprofessionals $190 to $385 In addition, the firm will seek reimbursement for expenses incurred. FTI is currently holding a retainer of approximately $175,000. Gregory Milne, senior managing director of FTI Consulting, 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: Gregory Milne FTI Consulting, Inc. 1166 Avenue of the Americas, 15th Floor New York, NY 10036 Tel: (212) 813-9435 Email: gregory.milne@fticonsulting.com About Cutera Inc. Cutera, Inc., offers aesthetic and dermatological solutions to medical professionals worldwide. The Company designs, manufactures, and sells energy-based product platforms for medical use, as well as distributes third-party skincare products. Its portfolio includes various system platforms such as AviClear, enlighten, excel HR, excel V/V+, truSculpt, Secret PRO, Secret DUO, Secret RF, xeo, and xeo+, which allow practitioners to perform a wide range of procedures. These procedures include treatments for acne, body contouring, skin resurfacing and rejuvenation, hair and tattoo removal, the elimination of benign pigmented lesions, and vascular conditions. Many of Cutera's systems feature multiple handpieces and applications, offering customers the flexibility to upgrade their equipment. Cutera Inc. and Crystal Sub, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90088) on March 5, 2025, with $200,881,854 in total assets and $480,459,932 in total liabilities. Taylor Harris, chief executive officer, signed the petition. Judge Alfredo R. Perez presides over the case. The Debtors tapped Hunton Andrews Kurth LLP as local bankruptcy counsel; Ropes & Gray LLP as general bankruptcy counsel; Houlihan Lokey Capital, Inc., as investment banker; FTI Consulting, Inc. as financial advisor and Kurtzman Carson Consultants, LLC d/b/a Verital Global as notice, claims, solicitation & balloting agent. CUTERA INC: Seeks to Hire Ropes & Gray LLP as Bankruptcy Counsel ---------------------------------------------------------------- Cutera, Inc. and Crystal Sub, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Ropes & Gray LLP as attorneys. The firm's services include: a. advising the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their businesses and properties; b. advising and consulting on the conduct of these chapter 11 cases, including all of the legal and administrative requirements of operating in chapter 11; c. advising the Debtors regarding related tax matters; d. taking any necessary action on behalf of the Debtors to negotiate, draft, and obtain approval of a chapter 11 plan and all documents related thereto; e. representing the Debtors in connection with obtaining authority to use cash collateral and post-petition financing; f. attending meetings and negotiating with representatives of creditors and other parties in interest; g. taking all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any action commenced against the Debtors, and representing the Debtors' interests in negotiations concerning litigations in which the Debtors are involved, including objections to any claims filed against the Debtors' estates; h. preparing pleadings in connection with these chapter 11 cases, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtors' estates; i. appearing before the Court and any appellate courts to represent the interests of the Debtors' estates; and j. performing all other necessary legal services for the Debtors in connection with the prosecution of these chapter 11 cases, including: (i) analyzing the Debtors' leases and contracts and the assumption and assignment or rejection thereof; (ii) analyzing the validity of liens against the Debtors; and (iii) advising the Debtors on corporate and litigation matters. The firm will be paid at these rates: Partners $1,800 to $2,600 per hour Counsel $1,250 to $1,880 per hour Associates $900 to $1,620 per hour Paraprofessionals $355 to $755 per hour The Debtor paid the firm an advance retainer of $150,000. The firm 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 UST Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: As set forth above, Ropes & Gray has represented the Debtors since June 6, 2024. Through and including Dec. 31, 2024, Ropes & Gray charged the Debtors the standard rates in effect as of Jan. 1, 2024, which were: $1,600 to $2,460 for partners; $1,000 to $2,460 for counsel; $830 to $1,490 for associates; and $315 to $695 for paraprofessionals. In the normal course of Ropes & Gray's business, the hourly rates of Ropes & Gray professionals increased on Jan. 1, 2025. Since Jan. 1, 2025, Ropes & Gray has charged the Debtors the standard rates in effect as of Jan. 1, 2025, which are: $1,800 to $2,600 for partners; $1,250 to $1,880 for counsel; $900 to $1,620 for associates; and $355 to $755 for paraprofessionals. Question: Have the Debtors approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Debtors approved a budget and staffing plan for Ropes & Gray covering the period from the Petition Date through May 9, 2025. Ryan Preston Dahl, a partner of the firm of Ropes & Gray LLP, 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: Ryan Preston Dahl, Esq. Ropes & Gray LLP 1211 Avenue of the Americas New York, NY US 10036-8704 Tel: (212) 596-9000 Fax: (212) 596-9090 About Cutera Inc. Cutera, Inc., offers aesthetic and dermatological solutions to medical professionals worldwide. The Company designs, manufactures, and sells energy-based product platforms for medical use, as well as distributes third-party skincare products. Its portfolio includes various system platforms such as AviClear, enlighten, excel HR, excel V/V+, truSculpt, Secret PRO, Secret DUO, Secret RF, xeo, and xeo+, which allow practitioners to perform a wide range of procedures. These procedures include treatments for acne, body contouring, skin resurfacing and rejuvenation, hair and tattoo removal, the elimination of benign pigmented lesions, and vascular conditions. Many of Cutera's systems feature multiple handpieces and applications, offering customers the flexibility to upgrade their equipment. Cutera Inc. and Crystal Sub, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90088) on March 5, 2025, with $200,881,854 in total assets and $480,459,932 in total liabilities. Taylor Harris, chief executive officer, signed the petition. Judge Alfredo R. Perez presides over the case. The Debtors tapped Hunton Andrews Kurth LLP as local bankruptcy counsel; Ropes & Gray LLP as general bankruptcy counsel; Houlihan Lokey Capital, Inc., as investment banker; FTI Consulting, Inc. as financial advisor and Kurtzman Carson Consultants, LLC d/b/a Verital Global as notice, claims, solicitation & balloting agent. CUTERA INC: Taps Houlihan Lokey Capital as Financial Advisor ------------------------------------------------------------ Cutera, Inc. and Crystal Sub, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Houlihan Lokey Capital, Inc. as their financial advisor and investment banker. The firm's services include: (a) assisting the Debtors in the development and distribution of selected information, documents and other materials, including, if appropriate, advising the Debtors in the preparation of an offering memorandum (it being expressly understood that the Debtors will remain solely responsible for such materials and all of the information contained therein); (b) assisting the Debtors in evaluating indications of interest and proposals regarding any Transaction(s) from current and/or potential lenders, and/or equity investors; (c) assisting the Debtors with the negotiation of any Transaction(s), including participating in negotiations with creditors and other parties involved in any Transaction(s); (d) attending meetings of the Debtors' Board of Directors, creditor groups, official constituencies and other interested parties, as the Debtors and Houlihan Lokey mutually agree; (e) providing expert advice, and testimony regarding financial matters related to any Transaction(s), if necessary; (f) providing such other financial advisory and investment banking services as may be agreed upon by Houlihan Lokey and the Debtors. The firm will receive compensation as follows: (i) Monthly Fees: In addition to the other fees provided, upon the 17th of each month during the term of this engagement, the Debtors shall pay Houlihan Lokey in advance, without notice or invoice, a nonrefundable cash fee of $100,000 ("Monthly Fee"); provided, however, that no additional Monthly Fee shall be paid after the payment of any Transaction Fee (as defined below) referred to in paragraph 3(ii) below with respect to a 3(a)(9) Offer. Each Monthly Fee shall be earned upon Houlihan Lokey's receipt thereof in consideration of Houlihan Lokey accepting this engagement and performing services as described herein. Beginning with the seventh Monthly Fee, 50 percent of the Monthly Fees previously paid to Houlihan Lokey shall be credited against the next Transaction Fee to which Houlihan Lokey becomes entitled hereunder (it being understood and agreed that no Monthly Fee shall be credited more than once), and (ii) Transaction Fee(s): In addition to the other fees provided for herein, the Debtors shall pay Houlihan Lokey the following Transaction Fee(s): a. Restructuring Transaction Fee. Upon the earlier to occur of: (I) in the case of an out-of-court Restructuring Transaction, the closing of such Restructuring Transaction, and (II) in the case of an in-court Restructuring Transaction, the date of consummation of a plan of reorganization or liquidation under Chapter 11 or Chapter 7 of the Bankruptcy Code as promptly as possible in accordance with the terms of this Agreement and applicable orders of such Bankruptcy Court, the Bankruptcy Code, the Bankruptcy Rules and applicable local rules and orders, Houlihan Lokey shall earn, and the Debtors shall promptly pay to Houlihan Lokey, a cash fee of $4,250,000, provided that, in the event the Restructuring Transaction is undertaken as a 3(a)(9) Offer, the Restructuring Transaction Fee, whether or not as a part of a plan, shall be earned and payable immediately upon the first mailing, delivery or other dissemination of offering documents pursuant to the 3(a)(9) Offer, b. Sale Transaction Fee. Upon the consummation of a Sale Transaction, and if such transaction is in-court, subject to applicable orders of such Bankruptcy Court, the Bankruptcy Code, the Bankruptcy Rules and applicable local rules and orders, Houlihan Lokey shall earn, and the Debtors shall thereupon pay to Houlihan Lokey immediately and directly from the gross proceeds of such Sale Transaction, as a cost of such Sale Transaction, a cash fee ("Sale Transaction Fee") based upon Aggregate Gross Consideration ("AGC"), calculated as the greater of (x) $3,500,000 and (y) the sum of: i. For AGC up to $100 million: 2.5 percent of such AGC, plus ii. For AGC above $100 million: 5.0 percent of such incremental AGC, If more than one Sale Transaction is consummated, Houlihan Lokey shall be compensated based on the AGC from all Sale Transactions on a cumulative basis, calculated in the manner set forth above. c. Financing Transaction Fee. Upon the consummation of each Financing Transaction, and if such transaction is in-court, subject to applicable orders of such Bankruptcy Court, the Bankruptcy Code, the Bankruptcy Rules and applicable local rules and orders, Houlihan Lokey shall earn, and the Debtors shall thereupon pay to Houlihan Lokey immediately and directly from the gross proceeds of such Financing Transaction, as a cost of such Financing Transaction, a cash fee ("Financing Transaction Fee") equal to the sum of: (I) 2.00 percent of the gross proceeds of any indebtedness raised or committed that is senior to other indebtedness of the Debtors, secured by a first priority lien and unsubordinated, with respect to both lien priority and payment, to any other obligations of the Debtors (including debtor-in-possession financing), ("1L Secured Debt Fee"), (II) 3.50 percent of the gross proceeds of any indebtedness raised or committed that is secured by a lien (other than a first lien), is unsecured and/or is subordinated, and (III) 4.50 percent of the gross proceeds of all equity or equity-linked securities (including, without limitation, common stock, convertible securities, preferred stock, and debt or equity instruments with warrants) placed or committed, provided that 100 percent of such Financing Transaction Fee payable on account of proceeds provided by an insider (as identified in Exhibit A in the Prior Agreement) shall be credited against the next Restructuring Transaction Fee to which Houlihan Lokey becomes entitled hereunder (it being understood and agreed that no Financing Transaction Fee shall be credited more than once). Any warrants issued in connection with the raising of debt or equity capital shall, upon the exercise thereof, be considered equity for the purpose of calculating the Financing Transaction Fee, and such portion of the Financing Transaction Fee shall be paid upon such exercise and from the gross proceeds thereof, regardless of any prior termination or expiration of this Agreement. It is understood and agreed that if the proceeds of any such Financing Transaction are to be funded in more than one stage, Houlihan Lokey shall be entitled to its applicable compensation hereunder upon the closing date of each stage. The Financing Transaction Fee(s) shall be payable in respect of any sale of securities whether such sale has been arranged by Houlihan Lokey, by another agent or directly by the Debtors or any of their affiliates. Any non-cash consideration provided to or received in connection with the Financing Transaction (including but not limited to intellectual or intangible property) shall be valued for purposes of calculating the Financing Transaction Fee as equaling the number of Securities issued in exchange for such consideration multiplied by (in the case of debt securities) the face value of each such Security or (in the case of equity securities) the price per Security paid in the then current round of financing. The fees set forth herein shall be in addition to any other fees that the Debtors may be required to pay to any investor or other purchaser of Securities to secure its financing commitment. Notwithstanding the foregoing or anything herein to the contrary, the total maximum fees to be earned by Houlihan Lokey under the terms of this Agreement on account of all Restructuring Transaction Fees, Sale Transaction Fees, Financing Transaction Fees, and Monthly Fees shall not exceed $6,750,000 in the aggregate (the "Fee Cap"). Any Restructuring Transaction Fee, Sale Transaction Fee, and Financing Transaction Fee is each referred to herein as a "Transaction Fee" and are collectively referred to herein as "Transaction Fees." All payments received by Houlihan Lokey pursuant to this Agreement at any time shall become the property of Houlihan Lokey without restriction. No payments received by Houlihan Lokey pursuant to this Agreement will be put into a trust or segregated account. If a Sale Transaction is effectuated under Sections 363, 1129 or any other provision of Title 11, United States Code (11 U.S.C. Secs. 101 et seq.), then Houlihan Lokey shall be entitled to a fee equal to the greater of the (i) Restructuring Transaction Fee and (ii) Sale Transaction Fee, as calculated in accordance with the terms of this Agreement, subject to the Fee Cap. Matthew Braun, a managing director at Houlihan Lokey Capital, 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: Matthew Braun Houlihan Lokey Capital, Inc. 10250 Constellation Blvd., Ste. 500 Los Angeles, CA 90067 Telephone: (310) 553-8871 About Cutera Inc. Cutera, Inc., offers aesthetic and dermatological solutions to medical professionals worldwide. The Company designs, manufactures, and sells energy-based product platforms for medical use, as well as distributes third-party skincare products. Its portfolio includes various system platforms such as AviClear, enlighten, excel HR, excel V/V+, truSculpt, Secret PRO, Secret DUO, Secret RF, xeo, and xeo+, which allow practitioners to perform a wide range of procedures. These procedures include treatments for acne, body contouring, skin resurfacing and rejuvenation, hair and tattoo removal, the elimination of benign pigmented lesions, and vascular conditions. Many of Cutera's systems feature multiple handpieces and applications, offering customers the flexibility to upgrade their equipment. Cutera Inc. and Crystal Sub, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90088) on March 5, 2025, with $200,881,854 in total assets and $480,459,932 in total liabilities. Taylor Harris, chief executive officer, signed the petition. Judge Alfredo R. Perez presides over the case. The Debtors tapped Hunton Andrews Kurth LLP as local bankruptcy counsel; Ropes & Gray LLP as general bankruptcy counsel; Houlihan Lokey Capital, Inc., as investment banker; FTI Consulting, Inc. as financial advisor and Kurtzman Carson Consultants, LLC d/b/a Verital Global as notice, claims, solicitation & balloting agent. CUTERA INC: Works w/ Shareholder on Ch. 11 Release Opt-Out Orders ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that a group of Cutera Inc. shareholders is proceeding with a proposal to opt out of bankruptcy plan provisions that would release company executives from liability. On Thursday, April 3, 2025, Judge Alfredo Perez of the U.S. Bankruptcy Court for the Southern District of Texas ordered the New England Teamsters Pension Fund and Cutera to draft conditional language allowing the pension fund to opt out of third-party releases in Cutera's Chapter 11 plan on behalf of other shareholders, the report states. The Troubled Company Reporter reported on March 31, 2025, that Cutera, Inc. and Crystal Sub, LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement for the Joint Prepackaged Plan of Reorganization dated March 5, 2025. Cutera, Inc. (the "Company"), founded in 1998, is a global leader of dermatology and aesthetics devices that appeal to forward-thinking clinicians who seek the next generation of performance, safety, and efficacy. The Company develops, manufactures, and markets energy-based product platforms for use by medical practitioners, enabling them to offer safe and effective treatment to their customers and patients. As of January 2024, the Company has: 32 issued U.S. patents, 12 pending U.S. patents, and 14 international patents. The Plan implements a prepackaged restructuring agreed to among the Debtors and the Debtors' major stakeholder and holders of Claims in the only voting class: the Consenting Senior Noteholders. Importantly, holders of approximately 74% of Senior Notes Claims have executed the Restructuring Support Agreement and are supportive of the Plan and the Restructuring Transactions. The anticipated benefits of the Plan, include, without limitation, the following: * An Equity Rights Offering, backstopped by the Equity Rights Offering Backstop Parties, pursuant to which the Debtors shall raise $30 million for general corporate purposes and to make distributions pursuant to the Plan, including the payment of Restructuring Expenses; * A $25 million debtor-in-possession term loan (the "DIP Facility"), of which $15 million will be available upon entry of the Interim DIP Order and the remainder upon entry of the Final DIP Order; * An exit term loan credit facility (the "Exit Facility") consisting of (i) a dollar-for-dollar conversion of the DIP Facility (including fees paid-in-kind on or prior to the Effective Date, but excluding accrued interest which will be paid in cash on the Effective Date), and (ii) a $10 million new money term loan to be provided by the Exit Lenders on the Effective Date on the terms and conditions set forth in the Exit Facility Documents; * Conversion of approximately $429.13 million of Senior Notes Claims to 100% of the Reorganized Common Equity subject to dilution from the Equity Rights Offering, the Equity Rights Offering Backstop Premium, the Common Equity Convenience Buyout Premium, and the Management Incentive Plan; * A Common Equity Convenience Buyout to provide a cash recovery to electing Holders of Senior Notes Claims who vote in favor of the Plan (excluding, for the avoidance of doubt, the Equity Rights Offering Backstop Parties) in lieu of Reorganized Common Equity, in an amount equal to the product of the Common Equity Convenience Buyout Share Price times the number of shares of Reorganized Common Equity such holder was entitled to receive; provided that, if such buyout cap is exceeded, the electing Holders may receive both cash and Reorganized Common Equity in accordance with Section 4.14 of the Plan; * Payment in full or Reinstatement of all General Unsecured Claims; * The anticipated assumption of all Unexpired Leases and Executory Contracts, with continued performance and payment thereunder in the ordinary course; and * Prompt emergence from chapter 11. The Plan provides for a comprehensive restructuring of the Debtors' prepetition obligations, preserves the going-concern value of the Debtors' businesses, maximizes all creditor recoveries, and protects the jobs of the Debtors' invaluable employees, including Management. On the Effective Date, after giving effect to the Restructuring Transactions contemplated by the Plan and prior to any dilution on account of the Management Incentive Plan, (i) the shares of Reorganized Common Equity issued and sold to the Equity Rights Offering participants (including the Equity Rights Offering Backstop Parties) pursuant to the Equity Rights Offering shall equal 39.74% of the total outstanding shares of Reorganized Common Equity and (ii) the shares of Reorganized Common Equity issued to the Equity Rights Offering Backstop Parties on account of the Put Option Premium shall equal 4.9% of the total outstanding shares of Reorganized Common Equity. The remaining 55.36% of shares of Reorganized Common Equity outstanding on the Effective Date will be issued to (a) the Holders of Allowed Senior Notes Claims on account of such Claims pursuant to Section 3.3(c)(iii)(1)(A) and Section 3.3(c)(iii)(2)(B) of the Plan and (b) the Equity Rights Offering Backstop Parties pursuant to Section 4.14 of the Plan, in connection with the Common Equity Convenience Buyout. Thus, the Debtors filed these Chapter 11 Cases to implement the terms of the prepackaged Plan and the go-forward business strategy on which the prepackaged Plan is based. In that regard, these Chapter 11 Cases will comprehensively restructure the Debtors' prepetition capital structure, preserve the going-concern value of the Debtors' businesses, maximize all creditor recoveries (including by reinstating General Unsecured Claims in full and assuming all Executory Contracts and Unexpired Leases), and protect the jobs of the Company's employees. Class 4 consists of General Unsecured Claims. In full and final satisfaction, compromise, settlement, release, and discharge of, and except as otherwise agreed to less favorable treatment, on the Effective Date, each Holder of an Allowed General Unsecured Claim shall (i) receive payment in full in Cash of the unpaid portion of its Allowed General Unsecured Claim paid on the later of (A) the Effective Date and (B) in the ordinary course of business, (ii) have its Allowed General Unsecured Claim Reinstated, or (iii) receive such other treatment in rendering its Allowed General Unsecured Claim Unimpaired in accordance with section 1124 of the Bankruptcy Code. This Class is unimpaired. On the Effective Date, all Existing Common Interests shall be cancelled, released, and extinguished, and Holders of Existing Common Interests shall not receive or retain any property or distributions under the Plan. The Debtors shall fund distributions under the Plan with: (i) Cash on hand, including Cash from operations; (ii) the proceeds of the Exit Facility; (iii) the proceeds of the Equity Rights Offering (including the Equity Rights Offering Backstop Commitment); and (iv) amounts being funded by the Equity Rights Offering Backstop Parties to fund the Senior Notes Claim Cash Amount related to the Common Equity Convenience Buyout in an amount up to the Common Equity Convenience Buyout Cap. Cash payments to be made pursuant to the Plan will be made by the Debtors or the Reorganized Debtors. A full-text copy of the Disclosure Statement dated March 5, 2025 is available at https://urlcurt.com/u?l=1Xgmb7 from Kurtzman Carson Consultants, LLC d/b/a Verita Global, claims agent. About Cutera Inc. Cutera, Inc., offers aesthetic and dermatological solutions to medical professionals worldwide. The Company designs, manufactures, and sells energy-based product platforms for medical use, as well as distributes third-party skincare products. Its portfolio includes various system platforms such as AviClear, enlighten, excel HR, excel V/V+, truSculpt, Secret PRO, Secret DUO, Secret RF, xeo, and xeo+, which allow practitioners to perform a wide range of procedures. These procedures include treatments for acne, body contouring, skin resurfacing and rejuvenation, hair and tattoo removal, the elimination of benign pigmented lesions, and vascular conditions. Many of Cutera's systems feature multiple handpieces and applications, offering customers the flexibility to upgrade their equipment. Cutera Inc. and Crystal Sub, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90088) on March 5, 2025, with $200,881,854 in total assets and $480,459,932 in total liabilities. Taylor Harris, chief executive officer, signed the petition. Judge Alfredo R. Perez presides over the case. The Debtors tapped Hunton Andrews Kurth LLP as local bankruptcy counsel; Ropes & Gray LLP as general bankruptcy counsel; Houlihan Lokey Capital, Inc., as investment banker; FTI Consulting, Inc. as financial advisor and Kurtzman Carson Consultants, LLC d/b/a Verital Global as notice, claims, solicitation & balloting agent. DAAT ESTATES: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, DAAT Estates LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filing, the Debtor reports $1,840,000 in debt owed to 1 and 49 creditors. The petition states funds will not be available to unsecured creditors. About DAAT Estates LLC DAAT Estates LLC owns a total of six properties in Odessa, Texas, with a combined value of $2.74 million. DAAT Estates LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-30392) on March 31, 2025. In its petition, the Debtor reports total assets of $2,736,034 and total liabilities of $1,840,000. The Debtor is represented by James Jopling, Esq. at JIM K. JOPLING, ATTORNEY AT LAW. DANIMER SCIENTIFIC: Proskauer & Landis Rath Advise DIP Lenders -------------------------------------------------------------- The law firms of Proskauer Rose LLP and Landis Rath & Cobb LLP ("LRC") filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 cases of Danimer Scientific, Inc. and affiliates, the firms represent Ad Hoc Group of DIP Lenders. The ad hoc group of lenders was formed by certain unaffiliated holders (each, a "Member" and collectively, the "DIP Lenders") of the Debtors' loans under that certain Senior Secured Superpriority DIP Financing Term Sheet, dated as of March 18, 2025 (the "DIP Loan"), between Danimer as the borrower, the guarantors party thereto, the DIP Lenders, and WSFS Bank as administrative agent. In or around March 2025, the DIP Lenders retained Counsel to represent them with respect to the DIP Loan and all related matters in the Chapter 11 Cases. Counsel represents only the Members of the Ad Hoc Group of DIP Lenders. Counsel does not represent any other entities in connection with the Chapter 11 Cases. Counsel does not represent the DIP Lenders as a "committee" and does not undertake to represent the interests of, and are not fiduciaries for, any creditor, party in interest, or other entity that has not signed a retention agreement with Counsel. Counsel does not represent the interests of, and are not fiduciaries for, any creditor, party in interest, or other entity that has terminated its prior retention of Counsel. In addition, the DIP Lenders do not represent or purport to represent any other entities in connection with the Chapter 11 Cases. Each of the DIP Lenders does not represent the interests of, nor act as a fiduciary for, any person or entity other than itself in connection with the Chapter 11 Cases. The Ad Hoc Group of DIP Lenders' address and the nature and amount of disclosable economic interests held in relation to the Debtors are: 1. Jefferies Capital Services, LLC 520 Madison Avenue New York, NY 10022 * DIP Loans ($800,000) * Super Senior Bridge Loans ($4,063,862.91) * IP Term Loans ($21,794,809.87) * Jefferies Funding LLC is the holder of warrants to purchase 1,338,057 and 1,500,000 shares of Danimer Class A common stock. 2. Riva Ridge Master Fund, Ltd. 55 5th Ave #1808, New York, NY 10003 * DIP Loans ($900,000) * Super Senior Bridge Loans ($4,571,845.78) 3. BPI Credit 6, L.L.C. The Baupost Group, L.L.C. 10 Saint James Avenue Suite 1700 Boston, MA 02116 * DIP Loans ($1,300,000) * Super Senior Bridge Loans ($6,603,777.23) * IP Term Loans ($9,340,632.80) Counsel to the Ad Hoc Group of DIP Lenders: LANDIS RATH & COBB LLP Adam G. Landis, Esq. Matthew R. Pierce, Esq. George A. Williams, Esq. 919 Market Street, Suite 1800 Wilmington, Delaware 19801 Telephone: (302) 467-4400 Facsimile: (302) 467-4450 Email: landis@lrclaw.com pierce@lrclaw.com williams@lrclaw.com -and- PROSKAUER ROSE LLP David M. Hillman, Esq. Dylan J. Marker, Esq. Eleven Times Square New York, NY 10036 Tel: (212) 969-3000 Email: dhillman@proskauer.com dmarker@proskauer.com PROSKAUER ROSE LLP Eric R. Reimer, Esq. One International Place Boston, MA 02110 Telephone: (617) 526-9600 Email: ereimer@proskauer.com About Danimer Scientific Inc. Danimer Scientific, Inc., is a performance polymer company specializing in bioplastic replacement for traditional petroleum-based plastics. The company is based in Bainbridge, Georgia. Danimer Scientific Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10523) on March 18, 2025. In its petition, the Debtor estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. Bankruptcy Judge Mary F. Walrath handles the case. The Debtor is represented by Daniel J. DeFranceschi, Esq. at Richards, Layton & Finger1. DATAVAULT AI: Teams With NYIAX for AI-Powered Data Monetization --------------------------------------------------------------- Datavault AI Inc. (Nasdaq: DVLT) announced a multi-year commercial and intellectual property (IP) alliance with NYIAX, a pioneer in transparent trading technology built on the Nasdaq financial framework. This partnership will integrate Datavault AI's patented Information Data Exchange(R) (IDE) and award-winning Data Vault platform with NYIAX's cutting-edge blockchain exchange technology. The collaboration leverages NYIAX's capabilities, enabling businesses to scale, list, price, and trade data and digital assets efficiently, creating new revenue opportunities. With the increasing recognition of data as a strategic financial asset, this partnership provides businesses with the infrastructure to monetize data in a secure and scalable environment, bridging the gap between data valuation and liquidity. Market Impact and Growth Potential: The global data monetization market is expected to exceed $700 billion by 20251, fueled by the rising demand for platforms that convert data into financial assets. "Companies possess data with untapped economic value that can generate significant revenue," said Teri Gallo, CEO of NYIAX. "This alliance establishes a structured market where data is traded like traditional assets, offering businesses greater valuation transparency and liquidity." Key Highlights of the Alliance: * Seamless, Transparent Trading – Leveraging the joint NYIAX-Nasdaq patented technology and Datavault AI's Information Data Exchange®, this collaboration establishes the most robust cross-sector data-trading platform. * AI-Powered Data Monetization – Datavault AI's high-performance computing and AI agents will enhance NYIAX's capabilities in advertising, digital asset trading and data exchanges. * Scalable and Secure Transactions – Datavault AI and NYIAX will develop cyber-secure, scalable, and regulatory-compliant real-time transactions with built-in audit trails. * Next-Generation Web 3.0 Monetization – The integration introduces tokenized data exchanges, allowing AI-driven real-time pricing, valuation, and liquidity management. Nathaniel Bradley, CEO of Datavault AI, emphasized the transformative potential of this partnership: "This is a breakthrough for businesses looking to unlock financial value from their data. By integrating the Information Data Exchange® with NYIAX's platform built on co-developed patents with Nasdaq, we are enabling a new era of AI-driven data monetization. Our customers gain access to secure, real-time valuation and trading mechanisms, helping them capitalize on the expanding data economy. The integration introduces multi-sector, tokenized data exchanges, enabling AI agents that provide for real-time pricing, scoring and liquidity estimations while ensuring transactional integrity and compliance. Web 3.0 solutions, including Datavault AI agents DataValue®, DataScore, and Data Vault Bank® enable automated smart contract administration, data completeness accuracy and Information Data Exchange provides for bid/ask data exchange management." Opportunity and Business Implications: Through this collaboration, Datavault AI and NYIAX create a direct financial pathway for data monetization within NYIAX's industry-leading Smart Contract trading platform, providing businesses with a clear mechanism to convert proprietary data into a liquid asset. The partnership delivers a structured, scalable revenue model that enables businesses to leverage AI and blockchain for: * Automated smart contract execution ensuring data integrity. * Transparent price discovery for data assets. * Enhanced market liquidity through tokenized trading solutions. About Datavault AI Datavault AI Inc. (f/k/a WiSA Technologies, Inc.) -- www.wisatechnologies.com -- develops and markets spatial audio wireless technology for smart devices and home entertainment systems. The Company's WiSA Association collaborates with consumer electronics companies, technology providers, retailers, and industry partners to promote high-quality spatial audio experiences. WiSA E is the Company's proprietary technology for seamless integration across platforms and devices. San Jose, California-based BPM LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 1, 2024, citing that the Company's recurring losses from operations, a net capital deficiency, available cash, and cash used in operations as factors raising substantial doubt about its ability to continue as a going concern. As of Sept. 30, 2024, Datavault AI had $8.02 million in total assets, $3.72 million in total liabilities, and $4.30 million in total stockholders' equity. DELUXE CORP: S&P Upgrades ICR to 'B' on Improved Cash Flow ---------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on U.S.-based payments and data provider Deluxe Corp. to 'B' from 'B-', its issue-level rating on its senior secured debt to 'B+' from 'B', and its issue-level rating on its senior unsecured debt to 'CCC+' from 'CCC'. Our recovery ratings on Deluxe's debt are unchanged. The positive outlook reflects the potential that the company will increase its profitability and cash flow generation, which could enable it to improve its credit metrics, including S&P Global Ratings-adjusted debt to EBITDA of less than 5x and free operating cash flow (FOCF) to debt approaching 10%. S&P said, "The upgrade reflects the reduction in Deluxe's leverage and our expectation it will continue to improve its margin and cash flow generation. The company reduced its S&P Global Ratings-adjusted debt to EBITDA to about 5.4x in 2024, from 6.6x the prior year, largely due to its lower-than-anticipated restructuring costs of about $48 million ($12 million below our previous forecast and down from $78 million in 2023), which we include in our calculation of its EBITDA. In addition, as part of its Project North Star (PNS) initiatives, Deluxe was able to reduce its expenses and improve its efficiency, which more than offset the 3.2% decline in its total revenue. Therefore, the company expanded its S&P Global Ratings-adjusted EBITDA margins to 13.8% in 2024 from 11.7% in 2023. We expect additional margin improvement over the next several years as the company's spending related to its PNS initiatives tapers off (we expect the program will end in 2025). "Our base-case forecast for Deluxe assumes restructuring costs of about $25 million in 2025 and $10 million in 2026, as well as the realization of additional cost savings. We also believe the company has good prospects to reduce its S&P Global Ratings-adjusted leverage below 5x in 2025, with the potential for further deleveraging below 4x in 2026, supported by increases in its EBITDA and ongoing debt reduction stemming from its mandatory term loan amortization. Furthermore, we anticipate Deluxe will likely improve its FOCF generation to $130 million-$135 million in 2025 (from $85 million in 2024) and $150 million-$155 million in 2026, which will raise its FOCF to debt to 9.5% in 2025 and 12% in 2026 (from 6.7% in 2024). "We expect the company's revenue growth will remain muted at about 1% in 2025 before accelerating to the 3%-5% range in 2026." Deluxe's ongoing transformation to a payments and data company--providing payment merchant services, treasury management solutions, and data-driven solutions for marketing business-to-business (B2B) and business-to-consumer (B2C) enterprises--from a legacy check printing company contributed to the low-single-digit percent declines in its revenue and weaker EBITDA margins in previous years (with a trough of 12% in 2023). Specifically, ongoing revenue declines in the company's legacy print business (including the demand for checks and promotional products, which is declining by 3%-5% annually), which accounts for more than 50% of its total revenue and EBITDA, combined with its business divestitures and increased investments to support its future growth, offset the strong expansion in its payments and data businesses. S&P said, "We expect these headwinds will subside in 2025 as increased demand for merchant services, B2B payments, and data revenue offset the ongoing declines in its print business. Therefore, we expect Deluxe will increase its revenue by about 1% in 2025 and the 3%-5% range in 2026." S&P said, "We forecast that the company will raise the revenue from its merchant services segment 6%-9% annually over the next couple of years, supported by its increased penetration among its core financial institutions customer base. We also expect the company will increase the revenue from its B2B payments and data segments by 9% and 5%, respectively, in 2025, which will likely help it offset the 3%-5% revenue declines in its print segment. The risks to our base-case forecast for Deluxe include sharper-than-expected declines in its print business, which continues to account for the majority of its revenue (57% in 2024) and EBITDA (91% in 2024), as well as weaker-than-expected macroeconomic conditions. These risks could negatively affect the performance of the company's merchant services segment by reducing its transaction volumes, leading to lower revenue. "We believe the company will maintain a prudent capital-allocation policy focused on debt repayment as it works to reduce its leverage toward its 3x net leverage target. Deluxe's financial policy prioritizes debt repayment and deleveraging to achieve its publicly stated net leverage target range of less than 3.0x by 2026 .Our calculation of the company's S&P Global Ratings-adjusted leverage is about 1.8x higher than management's net leverage ratio (3.6x as of year-end 2024, compared with 5.4x on an S&P Global Ratings-adjusted basis), largely due to its cash balance (which we do not net against its debt) and restructuring costs (which we do not add back to its EBITDA). In 2024, Deluxe reduced its total outstanding debt by roughly $90 million to $1.5 billion (as of Dec. 31, 2024) through a combination of mandatory debt repayment and a reduction in its total outstanding revolver borrowings. This contributed to the decline in the company's S&P Global Ratings-adjusted leverage to 5.4x in 2024 from 6.6x in 2023. "We expect the company will continue to prioritize using its cash flow to repay its outstanding debt balances, supported by its improving FOCF stemming from its margin expansion and our expectation for flat interest expense of about $123 million in 2025, reducing to $105 million in 2026 due to lower projected SOFR rates and the decline in its outstanding debt. While we do not assume additional debt repayment beyond its mandatory term loan amortization, we believe Deluxe could use its FOCF to support further debt reduction. Specifically, we believe the company could further reduce its debt balance by using its FOCF to repay its term loan balance in excess of the $38 million of mandatory term loan payments due in 2025 and 2026, which would support accelerated deleveraging exceeding our base-case forecast. "The positive outlook reflects the potential that Deluxe will increase its profitability and cash flow generation, which could enable it to improve its credit metrics, including S&P Global Ratings-adjusted debt to EBITDA of less than 5x and FOCF to debt approaching 10%." S&P could revise its outlook on Deluxe to stable over the next 12 months if it expects its S&P Global Ratings-adjusted leverage will remain above 5x and its FOCF to debt will remain below 10% on a sustained basis. This could occur if: -- Its restructuring charges remain elevated and it is unable to achieve additional cost savings, leading to a limited margin expansion and weaker FOCF; or -- The expansion in the company's data and payments revenue is insufficient to offset the declines in its print segment. S&P could raise its rating on Deluxe in the next 12 months if: -- It improves its debt to EBITDA below 5x and sustains it at that level; and -- Its FOCF to debt approaches 10% on a sustained basis. DERMTECH INC: Seeks to Extend Plan Exclusivity to May 16 -------------------------------------------------------- DTech Liquidating, Inc. (f/k/a DermTech, Inc.) and DTech Op Liquidating, Inc. (f/k/a DermTech Operations, Inc.) asked the U.S. Bankruptcy Court to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to May 16 and June 13, 2025, respectively. This is the Debtors' third request for an extension of the Exclusive Periods. The Debtors submit that cause exists to further extend the Exclusive Periods and that the following factors, among others, weigh in favor of such extension: * These chapter 11 cases are large and complex. Among other things, the Debtors spent the first three months of these chapter 11 cases transitioning into chapter 11, conducting the post-petition sale process, ultimately obtaining entry of the Sale Order, closing the Sale and transitioning operations to the Buyer. The sale process and subsequent closing and transition to the Buyer required significant effort on behalf of the Debtors' management, employees and advisors and involved complex negotiations with the Buyer, the Committee, the U.S. Trustee, and other interested parties. * The Debtors are not seeking a further extension of the Exclusive Periods to pressure or prejudice any of their stakeholders. The Debtors have been working diligently in good faith with various parties in an effort to resolve or narrow issues related to confirmation of the Plan, and these efforts will require the continued attention of the Debtors and their professionals. Thus, the Debtors' request for an extension of the Exclusivity Periods is not being made for the impermissible purpose of pressuring creditors to agree to a plan of reorganization. * The requested extension of the Exclusive Periods is also appropriate because these chapter 11 cases have only been pending for approximately nine months and the Debtors continue to timely pay their undisputed post-petition obligations. The requested extension of the Exclusive Periods will afford the Debtors a meaningful opportunity to continue negotiations with key parties in order to confirm the Plan without prejudice to the parties in interest in these chapter 11 cases. * Termination of the Exclusive Periods would adversely impact the administration of these chapter 11 cases. If the Court were to deny the Debtors' request for an extension of the Exclusive Periods, upon the expiration of the Exclusive Filing Period, any party in interest would be free to propose a chapter 11 plan for the Debtors and solicit acceptances thereof. Such a ruling could foster a chaotic environment for the Debtors and their estates, significantly delay the administration of these chapter 11 cases, and otherwise impair the Debtors' ability to prosecute these chapter 11 cases without any corresponding benefit to the Debtors' estates and creditors. Counsel to the Debtors: Erin R. Fay, Esq. Shane M. Reil, Esq. Catherine C. Lyons, Esq. Heather P. Smillie, Esq. WILSON SONSINI GOODRICH & ROSATI, P.C. 222 Delaware Avenue, Suite 800 Wilmington, Delaware 19801 Telephone: (302) 304-7600 E-mails: efay@wsgr.com sreil@wsgr.com clyons@wsgr.com hsmillie@wsgr.com About Dermtech Inc. 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. The official committee to represent unsecured creditors retained Hogan Lovells US LLP as counsel, Potter Anderson & Corroon LLP as Delaware counsel, and Berkeley Research Group, LLC, as financial advisor. DIGITAL GRAPHICS: Amends Unsecureds & Leaf Secured Claim Pay ------------------------------------------------------------ Digital Graphics Plus, LLC, submitted a First Amended Plan of Reorganization dated March 10, 2025. This Plan provides for: 3 class of secured claims; 1 class of unsecured claims; and 1 class of equity security holders. The Debtor's projected Disposable Income over the life of the Plan is $16,279.00. Class 2 consists of the Secured Claim of Leaf. This Claim is secured by a lien on the Leaf Collateral. The amount of the Class 1 Secured Claim is approximately $5,000.00. This Class is Impaired. To the extent that this Claim is allowed as a secured claim, then the holder will: (i) retain the liens securing the Claim to the extent of the allowed amount of the secured claim; and (ii) receive on account of such Claim deferred cash payments totaling at least the allowed amount of the Claim, of a value, as of the Effective Date of the claimant's interest in the estate's interest in the property securing the claim. Accordingly, the Reorganized Debtor shall make thirty-six equal monthly payments of principal and interest in the amount of $156.68, which payment amount is calculated based upon amortizing the amount of the Allowed Secured Claim over a three-year period with interest at the Secured Rate. This claim shall be paid directly by the Debtor. Class 4 consists of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of $16,500.00 Payments will be made in equal quarterly payments of $1,375.00. Payments shall commence on the fifteenth day of the month, on the first month that begins more than ninety days after the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to Section 1191 of the Bankruptcy Code, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. Holders of Class 4 claims shall be paid directly by the Debtor. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical Chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of its projected Disposable Income, $16,279.00. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee, which will be billed hourly at the Subchapter V Trustee's then-current allowable blended rate. Plan Payments shall commence on the fifteenth day of the first month following the Effective Date and shall continue quarterly for 11 additional quarters. The initial estimated quarterly payment shall be $1,356.50. Holders of Class 4 claims shall be paid directly by the Debtor. Class 3 consists of any and all equity interests and warrants currently issued or authorized in the Debtor. This Class is Unimpaired. Holders of a Class 3 interests shall retain their full equity interest in the same amounts, percentages, manner and structure as existed on the Petition Date. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the First Amended Plan dated March 10, 2025 is available at https://urlcurt.com/u?l=GTTSIY from PacerMonitor.com at no charge. Attorneys for the Debtor: Jeffrey S. Ainsworth, Esq. Cole B. Branson, Esq. BransonLaw, PLLC 1501 E. Concord Street Orlando, Florida 32803 Telephone (407) 894-6834 Fax (407) 894-8559 E-mail: jeff@bransonlaw.com E-mail: cole@bransonlaw.com About Digital Graphics Plus Digital Graphics Plus, LLC, provides graphic design and printing services. Its offerings typically include a range of products such as promotional materials, custom signage, marketing collateral, and digital solutions aimed at enhancing branding and visibility for businesses. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-05422) on Oct. 4, 2024, with up to $50,000 in assets and up to $500,000 in liabilities. Judge Grace E. Robson oversees the case. The Debtor is represented by Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC. DRAKSIN PROPERTIES: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------------- Draksin Properties, Inc. asked the U.S. Bankruptcy Court for the Northern District of New York for authority to use cash collateral, which may be subject to liens from Generations Bank. The company filed for Chapter 11 protection on March 7, 2025, due to financial difficulties arising from unpaid rents during the COVID-19 pandemic and subsequent foreclosure proceedings initiated by Generations Bank. Generations Bank has multiple liens on Draksin's property, and the Debtor seeks permission to use cash collateral generated from its rental business to continue operations. Without this, the business cannot survive, and further harm to the estate and creditors could occur. The Debtor agrees to a rollover lien to allow all creditors to maintain whatever security interests they had pre-petition. About Draksin Properties Draksin Properties, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-30159) on March 6, 2025, listing up to $1 million in both assets and liabilities. Judge Wendy A. Kinsella oversees the case. Peter A. Orville, Esq., at Orville & McDonald Law, P.C. serves as the Debtor's counsel. EARTH SCIENCE: Extends Employment Agreements With CFO, CTO ---------------------------------------------------------- Earth Science Tech, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors and Compensation Committee approved the continuation of the 12-month Employment Agreement for Ernesto L. Flores, the Company's Chief Financial Officer, Treasurer, Chairman of the Compensation Committee, and member of the Audit Committee, and Christopher Rose, the Company's Chief Technology Officer. Under the continued agreements, Mr. Flores will maintain an annual base salary of $160,000, paid biweekly, while Mr. Rose will maintain an annual base salary of $270,000, also paid biweekly. In addition to their base salaries, both officers will be eligible for performance-based bonuses, with the amounts determined at the sole discretion of the Chief Executive Officer. About Earth Science Tech Miami, Fla.-based Earth Science Tech, Inc. was incorporated under the laws of the State of Nevada on April 23, 2010, subsequently changed to the State of Florida on June 27, 2022. As of November 8, 2022, the Company is a holding entity set to acquire companies with its current focus in the health and wellness industry. The Company is presently in compounding pharmaceuticals and telemedicine through its wholly owned subsidiaries RxCompoundStore.com, LLC., Peaks Curative, LLC., and Earth Science Foundation, Inc. Boca Raton, Fla.-based R. Bolko, CPA P.A, the Company's auditor since 2022, issued a "going concern" qualification in its report dated April 16, 2024, citing that the Company has suffered negative cash flows and has a significant accumulated deficit. These factors raise substantial doubt about the Company's ability to continue as a going concern. EKSO BIONICS: Investor Exercises Warrants to Purchase 9.8MM Shares ------------------------------------------------------------------ Ekso Bionics Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a warrant inducement agreement with an existing holder of the Company's Series A Warrants and Series B Warrants that the Company previously issued as part of a public offering by the Company, pursuant to which, among other things, the Investor agreed to exercise for cash all of its Existing Investor Warrants to purchase an aggregate of 9,800,000 shares of the Company's common stock, par value $0.001 per share, at a reduced exercise price of $0.4239 per share. In consideration for exercising the Existing Investor Warrants, the Company agreed to issue to the Investor a new Common Stock Purchase Warrant, to purchase up to an aggregate of 10,500,000 shares of Common Stock. The Inducement Warrant, which was issued in conjunction with the entrance into the Inducement Agreement, will become exercisable upon the date the Company receives approval of the Company's stockholders in accordance with the applicable rules and regulations of The Nasdaq Capital Market, and may be exercised following such date through the five year anniversary of the Stockholder Approval Date, at an exercise price of $0.4239 per share. In the event any exercise of the Existing Investor Warrants would otherwise cause the Investor to exceed a beneficial ownership, limitation equal to 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of the Existing Investor Warrants, the Company shall only issue such number of shares of Common Stock permitted under the Existing Warrant Beneficial Ownership Limitation, as directed by the Investor, with the balance of the Existing Investor Warrant Shares to be held in abeyance until notice from the Investor that the balance (or portion thereof) may be issued in compliance with the Existing Warrant Beneficial Ownership Limitation. The portion of Existing Investor Warrants held in abeyance shall be deemed prepaid and exercised (provided no additional exercise price shall be payable) in accordance with the Inducement Agreement. Under the Inducement Warrant, the Company is obligated to seek stockholder approval for the exercise of the Inducement Warrant at either an annual or special meeting of stockholders to be held on or prior to July 15, 2025. The Company also agreed, subject to certain exceptions, not to issue any shares of Common Stock or Common Stock equivalents until May, 31, 2025 or enter into or effect Variable Rate Transaction (as defined in the Inducement Agreement) until September 13, 2025. The issuance of the Existing Investor Warrant Shares was registered as part of the Public Offering pursuant to a Registration Statement on Form S-1 (File No. 333-281081), which was declared effective by the Securities and Exchange Commission on August 29, 2024. The Inducement Warrant, and the Inducement Warrant Shares underlying the Inducement Warrant, were issued pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, contained in Section 4(a)(2) thereof. Each Inducement Warrant is exercisable at a price per share of Common Stock of $0.4239. Upon obtaining stockholder approval, each Inducement Warrant will become immediately exercisable. The exercise price of the Inducement Warrant is subject to appropriate adjustment in the event of stock dividends, stock splits, stock combinations, reorganizations or similar events affecting the Common Stock. Subject to limited exceptions, the holder of the Inducement Warrant will not have the right to exercise any portion of its Inducement Warrant if the holder (together with such holder's affiliates, and any persons acting as a group together with the holder or any of the holder's affiliates) would beneficially own a number of shares of common stock in excess of 4.99% (or, upon election by the holder prior to the issuance of any Warrants, 9.99%) of the shares of Common Stock then outstanding. At the holder's option, upon notice to the Company, the holder may increase or decrease this beneficial ownership limitation not to exceed 9.99% of the shares of Common Stock then outstanding, with any such increase becoming effective upon 61 days' prior notice to the Company. In addition, the Company is obligated to file a registration statement on Form S-3 (or Form S-1 or other appropriate form if the Company is not then S-3 eligible) no later than 30 calendar days following the Stockholder Approval Date providing for the resale of the Inducement Warrant Shares and to use commercially reasonable efforts to cause such registration statement to become effective as soon as practicable. About Ekso Bionics Holdings San Rafael, Calif.-based Ekso Bionics Holdings, Inc. designs, develops, and markets exoskeleton products to augment human strength, endurance, and mobility. As of Dec. 31, 2024, Ekso had $26.7 million in total assets, $13.9 million in total liabilities, and $12.7 million in total stockholders' equity. San Francisco, Calif.-based WithumSmith+Brown PC, the Company's auditor since 2010, issued a 'going concern' qualification in its report dated March 3, 2025, citing that the Company has an accumulated deficit on December 31, 2024 and, since inception, has suffered significant operating losses and negative cash flows from operations. The Company expects to generate operating losses and negative operating cash flows in the future and will require additional funding to support the Company's planned operations which raises substantial doubt about its ability to continue as a going concern. ELETSON HOLDINGS: Reed Smith Seeks to Withdraw from Chapter 11 Case ------------------------------------------------------------------- Rick Archer of Law360 reports that on April 3, 2025, a Reed Smith LLP attorney requested a New York bankruptcy judge's approval to withdraw from representing one of two parties competing for control of Eletson Holdings, citing months of pressure from opposing counsel to step down. Troubled Company Reporter, citing Emily Sawicki of Law360, previously reported that the new owners of the reorganized international shipping group Eletson, along with a creditor-turned-affiliate, have urged the Second Circuit to deny Reed Smith LLP's emergency motion for a stay in a lawsuit over enforcing a $102 million arbitral award. The law firm is fighting to continue representing Eletson's pre-bankruptcy shareholders. About Eletson Holdings Eletson Holdings Inc. is a family-owned international shipping company, which touts itself as having a global presence with headquarters in Piraeus, Greece as well as offices in Stamford, Connecticut, and London. At one time, Eletson claimed to own and operate one of the world's largest fleets of medium and long-range product tankers and boasted a fleet consisting of 17 double hull tankers with a combined capacity of 1,366,497 dwt, 5 LPG/NH3 carriers with a combined capacity of 174,730 cbm and 9 LEG carriers with capacity of 108,000 cbm. Eletson Holdings, a Liberian company, is Eletson's ultimate parent company and is the direct parent and owner of 100% of the equity interests in the two other debtors, Eletson Finance (US) LLC, and Agathonissos Finance LLC. Eletson and its two affiliates were subject to involuntary Chapter 7 bankruptcy petitions (Bankr. S.D.N.Y. Case No. 23-10322) filed on March 7, 2023 by creditors Pach Shemen LLC, VR Global Partners,L.P. and Alpine Partners (BVI), L.P. The petitioning creditors are represented by Kyle J. Ortiz, Esq., at Togut, Segal & Segal, LLP. On Sept. 25, 2023, the Chapter 7 cases were converted to Chapter 11 cases. The Honorable John P. Mastando, III is the case judge. Derek J. Baker, Esq., represents the Debtors as bankruptcy counsel. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors. The committee tapped Dechert, LLP as its legal counsel. ENNIS I-45 11 ACRE: April 11 Deadline Set for Panel Questionnaires ------------------------------------------------------------------ The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of Ennis I-45 11 Acre, LLC. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/3k96t9wa and return by email it to Meredyth Kippes, Esq. -- Meredyth.Kippes@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Friday, April 11, 2025 at 4:00 p.m. Central Standard Time. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Ennis I-45 Ennis I-45 11 Acre, LLC (dba Ennis Luxury RV Resort) is an upscale RV park located just outside of Dallas, Texas, in Ennis. Ennis I-45 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-31219) on April 1, 2025. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated assets of $10 million to $50 million. The petition was signed by John McGaugh as manager. The Debtor is represented by Shannon & Lee LLP as counsel. ENNIS I-45 11 ACRE: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------------- On April 1, 2025, Ennis I-45 11 Acre LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Ennis I-45 11 Acre LLC Ennis I-45 11 Acre LLC,(dba Ennis Luxury RV Resort) is an upscale RV park located just outside of Dallas, Texas, in Ennis. It offers a high-end RV experience with 100 luxury paved sites, featuring amenities such as a clubhouse, swimming pool, dog park, laundry facilities, and Wi-Fi. The resort also provides additional services like dry cleaning, RV wash, and massage services. The location is convenient, being close to local attractions, festivals, and racetracks. Ennis I-45 11 Acre LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-31219) on April 1, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. The Debtor is represented by Kyung S. Lee, Esq. at SHANNON & LEE LLP. EQUILATERAL INVESTMENT: Seeks Subchapter V Bankruptcy in Georgia ---------------------------------------------------------------- On March 31, 2025, Equilateral Investment Group LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Equilateral Investment Group LLC Equilateral Investment Group LLC is a single asset real estate company based in Atlanta, Georgia. Equilateral Investment Group LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-53508) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million each. EXTON OPERATING: Gets OK to Use Cash Collateral Until April 30 -------------------------------------------------------------- Exton Operating Group, Inc. received interim approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to use cash collateral until April 30. The Debtor needs to use cash collateral to pay expenses as detailed in its budget. The U.S. Small Business Administration loaned the Debtor money as a post-covid EIDL Loan. This loan is secured by a lien on all of the Debtor's assets. As of the petition date, the Debtor owes approximately $150,000 on account of this loan. Meanwhile, Performance Food Group, Inc. has a UCC-I against the Debtor and a lien on the Debtor's assets, including cash. Performance Food Group is currently owed approximately $55,000. As protection for the Debtor's use of their cash collateral, both secured creditors were granted a replacement lien on the Debtor's post-petition collateral to the same extent and with the same validity and priority as their pre-bankruptcy lien. In addition, SBA will receive $800 in payments during the interim period as further protection. If these protections are insufficient, the creditors will have superpriority claims under Section 507(b) of the Bankruptcy Code. The next hearing is scheduled for April 30. About Exton Operating Group Inc. Exton Operating Group, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-11126) on March 24, 2025, listing up to $500,000 in both assets and liabilities. Emad Elgeddawy, president of Exton Operating Group, signed the petition. Judge Ashely M. Chan oversees the case. Albert A. Ciardi, III Esq., at Ciardi Ciardi and, represents the Debtor as legal counsel. EYM PIZZA: Seeks to Sell Pizza Business at Auction -------------------------------------------------- EYM Pizza, L.P. and its affiliates, EYM Pizza of Illinois, LLC, EYM Pizza of Indiana, LLC, EYM Pizza of Georgia, LLC, EYM Pizza of SC, LLC and EYM Pizza of Wisconsin, LLC, seek permission from the U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, to sell Property, free and clear of liens, interests, and encumbrances. The Debtors have been engaged in the operation of Pizza Hut restaurants and have concluded the sale of their operations. The Debtors still own various items of tangible personal property located in multiple states which they have removed from closed restaurants and which they now wish to liquidate at public auction through the eBay.com platform. The Debtor's principal secured creditor, SMBC Manubank, holds a lien on the Property. The eBay.com commission structure is as follows: -- 13.6% on total amount of the sale price up to $7,500 calculated per item; and 2.35% on the portion of the sale price over $7,500; -- The commission is netted from the proceeds received by the Debtors when a buyer on the platform pays for property subject to a successful bid. The Debtors have explored alternatives to sell the Property but due to the fact that the Property is located in multiple jurisdictions, the Debtors believe that the Property in any one location is not sufficient to justify a sale through a private auctioneer, and that transactional costs such as storage and transportation would consume a substantial portion of the value if a different sale method were utilized. The paramount goal of the Debtors in the sale of property is to maximize the proceeds received by the estate. About EYM Pizza, L.P. EYM Pizza LP is a Pizza Hut franchisee. EYM Pizza LP and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-41669) on president of EYM Group Inc., the Debtor reports estimated assets under $2.25 million and estimated liabilities more than $21 million. Judge Brenda T. Rhoades presides over the case. Howard Marc Spector, Esq. at Spector & Cox, PLLC, is the Debtors' counsel. National Franchise Sales is the Debtors' financial advisor for the sale of the assets or businesses of the Debtors. F21 OPCO: Taps Kurtzman Carson as Claims and Noticing Agent ----------------------------------------------------------- F21 OpCo, LLC and its debtor affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to hire 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. 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 F21 OpCo F21 OpCo, LLC is the operator of Forever 21 stores and licensee of the Forever 21 brand in the United States. F21 OpCo sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10469) on March 16, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $1 billion and $10 billion. The Company's proposed advisors include Paul, Weiss, Rifkind, Wharton & Garrison LLP and Young Conaway Stargatt & Taylor, LLP as legal counsel, BRG as financial advisor, RCS Real Estate Advisors as real estate advisor, SSG Capital Advisors, LLC as investment banker, and Reevemark as communications advisor. About Forever 21 Inc. Founded in 1984 by South Korean husband and wife team Do Won Chang and Jin Sook Chang and headquartered in Los Angeles, Calif., Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion retailer of women's, men's and kids clothing and accessories and is known for offering the hottest, most current fashion trends at a great value to consumers. Forever 21 delivers a curated assortment of new merchandise brought in daily. Forever 21, Inc. and seven of its U.S. subsidiaries each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-12122) on Sept. 29, 2019. According to the petition, Forever 21 has estimated liabilities on a consolidated basis of between $1 billion and $10 billion against assets of the same range. As of the bankruptcy filing, the Debtors operated 534 stores under the Forever 21 brand in the U.S. and 15 stores under beauty and wellness brand, Riley Rose. The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez & Marsal as restructuring advisor; and Lazard as investment banker; and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel. Prime Clerk is the claims agent. Andrew Vara, acting U.S. trustee for Region 3, appointed a committee of unsecured creditors on Oct. 11, 2019. The committee is represented by Kramer Levin Naftalis & Frankel LLP and Saul Ewing Arnstein & Lehr LLP. Counsel to the administrative agent under the Debtors' prepetition revolving credit facility and the Debtors' DIP ABL financing facility are Morgan, Lewis & Bockius LLP and Richards, Layton & Finger, PA. Counsel to the administrative agent under the Debtors' DIP term loan facility is Schulte Roth & Zabel LLP. * * * In February 2020, the company was purchased by a consortium that includes Authentic Brands Group, Simon Property Group and Brookfield Property Partners for $81.1 million. As part of the deal, ABG and Simon will each own 37.5% of the fast-fashion retailer, while Brookfield controls the remaining 25% of Forever 21's operating and intellectual property businesses. FAIR ANDREEN: Seeks Chapter 11 Bankruptcy in Wisconsin ------------------------------------------------------ On April 2, 2025, Fair Andreen Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Wisconsin. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 50 and 99 creditors. The petition states funds will be available to unsecured creditors. About Fair Andreen Inc. Fair Andreen Inc., doing business as City Press, is a commercial printing company with facilities in Wisconsin and Illinois. Fair Andreen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-21724) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Jerome R. Kerkman, Esq. at Kerkman & Dunn. FIGUEROA TELEPHONE: Case Summary & 19 Unsecured Creditors --------------------------------------------------------- Debtor: Figueroa Telephone Construction Inc. Carr 115 KM 25 H8 Bo Asomante Aguada, PR 00602 Business Description: Figueroa Telephone Construction specializes in the construction and maintenance of telecommunication systems, including both aerial and underground installations. The Company's services encompass fusion and splicing of fiber optic networks, as well as the construction and installation of handholes and manholes for cables. Chapter 11 Petition Date: April 2, 2025 Court: United States Bankruptcy Court District of Puerto Rico Case No.: 25-01506 Debtor's Counsel: Jaime Rodriguez Perez, Esq. HATILLO LAW OFFICE, PSC Urb. Rexville BB-20 Calle 38 Bayamon, PR 00957 Tel: 787-262-4848 Fax: 787-262-4848 E-mail: hatillolawoffice@yahoo.com Total Assets: $499,203 Total Liabilities: $1,131,802 The petition was signed by Elias De Jesus Figueroa Cortes as president. A full-text copy of the petition, which includes a list of the Debtor's 19 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NMF2WMY/FIGUEROA_TELEPHONE_CONSTRUCTION__prbke-25-01506__0001.0.pdf?mcid=tGE4TAMA FINANCE OF AMERICA: Bloom Holds 9.49% Stake as of March 17 ---------------------------------------------------------- Bloom Retirement Holdings Inc., disclosed in a Schedule 13D (Amendment No. 8) filed with the U.S. Securities and Exchange Commission that as of March 17, 2025, it beneficially owned 2,622,448 shares of Class A Common Stock, which includes 22,841 shares of Class A Common Stock and 1,799,607 FOAEC Units, representing 9.49% of the 10,711,674 shares of Class A Common Stock outstanding as of March 11, 2025, as set forth in the Company's Annual Report on Form 10-K filed by the Issuer on March 14, 2025. Bloom Retirement Holdings Inc. may be reached through: Reza Jahangiri, Majority Shareholder 3800 W. Chapman Avenue Third Floor Orange CA 92868 Tel: 866-948-0003 A full-text copy of Bloom Retirement's SEC Report is available at: https://tinyurl.com/3pavedbv About Finance of America Plano, Texas-based Finance of America Companies Inc. is a financial services holding company. Through its operating subsidiaries, it operates as a modern retirement solutions platform, providing customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities to optimize distribution to investors. * * * As reported by the Troubled Company Reporter in November 2024, Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of Finance of America Companies Inc. and its subsidiaries, Finance of America Equity Capital LLC and Finance of America Funding LLC (together, FOA) to 'RD' (Restricted Default) from 'C'. The action follows the completion of the company's debt restructuring on Oct. 31, 2024, which Fitch views as a distressed debt exchange (DDE). Fitch has also upgraded FOAs IDRs to 'CCC' from 'RD' subsequent to the DDE. Fitch has assigned a rating of 'CCC-' with a Recovery Rating of 'RR5′ to Finance of America Funding, LLC's new $196 million senior secured notes due in 2026 and $147 million convertible senior secured notes due in 2029 issued as part of the exchange. Concurrently, Fitch has also downgraded Finance of America Funding LLC's unsecured debt rating to 'RD" from 'C'/'RR6′ and withdrawn the rating as 98% of the notes were exchanged into the new secured notes. FIREFLY NEUROSCIENCE: CTO Holds 33,480 Shares, 79,958 Options ------------------------------------------------------------- Gil Issachar, Chief Technology Officer of Firefly Neuroscience, Inc., disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of March 19, 2025, he beneficially owned 33,480 shares of common stock directly and holds stock options to purchase an additional 79,958 shares, subject to various exercise prices and vesting conditions. About Firefly Firefly (NASDAQ: AIFF) (formerly WaveDancer, Inc.) is an Artificial Intelligence company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. The FDA-510(k)-cleared Brain Network Analytics (BNA) software platform is designed to advance diagnostic and treatment approaches for individuals with mental illnesses and cognitive disorders, such as depression, dementia, anxiety, concussions, and attention-deficit/hyperactivity disorder (ADHD). Tysons, Virginia-based CohnReznick LLP, the Company's auditor since 2012, issued a "going concern" qualification in its report dated March 20, 2024, citing that the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. The Company has yet to file its Annual report for the year ended December 31, 2024. FLOATUS INC: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Floatus, Inc. received interim approval from the U.S. Bankruptcy Court for the District of Maryland to use the cash collateral of secured lender CDC Small Business Finance. The Debtor has a loan from CDC secured by a lien on its assets, including cash proceeds and receivables. It plans to lease robotic massage systems to increase revenue. CDC, as the lender, has consented to the Debtor's use of its cash collateral, with protections in place to maintain its interests, including the grant of a replacement lien on the Debtor's post-petition assets. If the Debtor fails to make a payment, CDC can issue a seven-day default notice, after which cash collateral use will automatically cease without further court order. A final hearing is set for May 19. About Floatus Inc. Floatus, Inc., operates a float therapy spa in Laurel, Md. Floatus filed Chapter 11 bankruptcy petition (Bankr. D. Md. Case No. 25-12007) on March 9, 2025, listing up to $500,000 in both assets and liabilities. Felix Nelson, company owner, signed the petition. Michael P. Coyle, Esq., at The Coyle Law Group, represents the Debtor as bankruptcy counsel. CDC Small Business Finance, as lender, is represented by: Eric S. Schuster, Esq. Funk & Bolton, P.A. 100 Light Street, Suite 1400 Baltimore, MD 21202 Tel: 410.659.4983 Fax: 410.659.7773 eschuster@fblaw.com FLY7 INSTALLATIONS: Paul Driscoll Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 4 appointed Paul Driscoll, Esq., at Zemanian Law Group as Subchapter V trustee for Fly7 Installations, LLC. Mr. Driscoll and the firm's paraprofessionals will charge $350 per hour and $110 per hour, respectively. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Mr. Driscoll declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Paul A. Driscoll Zemanian Law Group 223 E. City Hall Ave., Suite 201 Norfolk, Virginia 23510 (757) 622-0090 Email: paul@zemanianlaw.com About Fly7 Installations Fly7 Installations, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-70482) on March 8, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Carolyn Anne Bedi, Esq. at Bedi Legal, P.C. represents the Debtor as legal counsel. FOX AND BIRD: Seeks to Hire Wegner CPAs LLP as Accountant --------------------------------------------------------- Fox and Bird, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ Wegner CPAs LLP as accountant. The professional service Wegner will provide in connection with the Case is preparing and filing Debtor's tax returns on an annual basis and is necessary for the Debtor's continuance of its ordinary course of business. Wegner requests to be paid a flat fee in the amount of approximately $6,500 in necessary and reasonable expenses incurred for the preparation and filing of Debtor's annual tax returns for the filing period 2024. Wegner is a "disinterested person" as defined by section 101(14) of the Bankruptcy Code, as disclosed in the court filings. The firm can be reached through: Daniel Bergs, CPA Wegner CPAs 2921 Landmark Place, Suite 300 Madison, WI 53713 Telephone: (608) 274-4020 Facsimile: (608) 274-7083 Email: dan.bergs@wegnercpas.com About Fox and Bird Fox and Bird, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-10440) on March 3, 2025, listing under $1 million in both assets and liabilities. Michael P. Richman, Esq., at Richman & Richman LLC serves as the Debtor's counsel. FRANCHISE GROUP: Lenders Battle for Chapter 11 Case Control ----------------------------------------------------------- Alex Wittenberg of Law360 reports that on April 3, 2025, a Delaware bankruptcy judge announced she would soon decide whether Franchise Group Inc., a retail-chain owner, can maintain exclusive control over its reorganization efforts, as lenders opposing the Chapter 11 plan as "unconfirmable" attempt to intervene. The Troubled Company Reporter, citing James Nani of Bloomberg Law, previously reported that Franchise Group Inc.'s first-lien lenders have filed a lawsuit against the company's second-lien lenders, claiming they violated an intercreditor agreement by seeking a $158 million priority payout. The suit, filed Sunday by Wilmington Trust, NA in the U.S. Bankruptcy Court for the District of Delaware, alleges that Alter Domus (US) LLC, the administrative agent for the second-lien debtholders, breached the agreement by requesting an expense claim last month based on the reduced value of its collateral. This dispute is the latest chapter in Franchise Group's Chapter 11 proceedings, which have been marked by ongoing clashes between lender groups. About Franchise Group Inc. Franchise Group, Inc., through its subsidiaries, operates franchised and franchisable businesses including The Vitamin Shoppe, Pet Supplies Plus, LLC, Badcock Home Furniture & More, American Freight, Buddy's Home Furnishings and Sylvan Learning Systems, Inc. Franchise Group, Inc. and its affiliates filed their voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-12480) on Nov. 3, 2024, listing $1,000,000,001 to $10 billion in both assets and liabilities. The petitions were signed by David Orlofsky as chief restructuring officer. Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel, AlixPartners is serving as financial advisor and Chief Restructuring Officer, and Ducera Partners is serving as investment banker to the Company. Paul Hastings LLP is serving as legal counsel and Lazard is serving as investment banker to the first lien ad hoc group. GENUINE GENIUS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Genuine Genius Technologies, LLC 170 S. Green Valley Pkwy., Ste. 300 Henderson, NV 89012 Business Description: Genuine Genius Technologies, LLC DBA XVoucher is a global platform that simplifies the management and distribution of learning and credentialing programs. It offers businesses a streamlined solution for voucher management, e-commerce, and payment processing, ensuring tax compliance and operational efficiency. Xvoucher enables organizations to scale their learning programs and improve access to educational resources for resellers, enterprises, and their customers. Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court District of Nevada Case No.: 25-11946 Judge: Hon. August B Landis Debtor's Counsel: Matthew C. Zirzow, Esq. LARSON & ZIRZOW, LLC 850 E. Bonneville Ave. Las Vegas, NV 89101 Tel: 702-382-1170 E-mail: mzirzow@lzlawnv.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million Kevin Brice, in his role as chief executive officer, signed the petition. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UYOQ6CY/GENUINE_GENIUS_TECHNOLOGIES_LLC__nvbke-25-11946__0001.0.pdf?mcid=tGE4TAMA GIP II: S&P Affirms 'BB-' Issuer Credit Rating, Outlook Stable -------------------------------------------------------------- S&P Global Ratings affirmed its 'BB-' issuer credit rating on GIP II Blue Holding L.P. (HoldCo) and its 'BB-' issue-level rating on its senior secured term loan B. The '3' recovery rating indicates its expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default. S&P said, "The stable outlook on HoldCo reflects our expectation that its S&P Global Ratings-adjusted debt to EBITDA will remain 2.5x-3.0x and S&P Global Ratings-adjusted EBITDA interest coverage will remain 3.50x-4.25x through 2025. We also expect HESM will increase its distributions at least 5% annually. "Pursuant to a criteria exception, we continue to rate GIP II Blue Holdings L.P. under our "Methodology For Companies With Noncontrolling Equity Interests". Companies rated under this criteria are required to maintain a 10% ownership in the investee company to remain rated under the criteria. While HoldCo’s ownership in HESM is below 10%, HoldCo still holds a material influence over HESM. For this reason, we continue to rate GIP II Blue Holdings L.P. under the "Methodology For Companies With Noncontrolling Equity Interests" criteria with a criteria exception." HoldCo is wholly owned by Global Infrastructure Partners (GIP). GIP and Hess Corp. (Hess) each owns a 50% ownership interest in Hess Infrastructure Partners G.P. LLC (HIP GP), which owns 100% ownership interest in Hess Midstream G.P. L.P. (the general partner). HESM is managed by the board of directors and executive officers of the general partner. GIP and Hess each have the right to nominate certain individuals to serve on the board of directors of the general partner. Because the general partner is wholly owned by HIP G.P., HIP G.P. has the right to elect the entire board, including the independent directors, following the nomination by Hess and GIP. S&P said, "The directors have voting power necessary to control the day-to-day management, business operations, and assets of HESM. Therefore, despite the declined ownership, we view HoldCo’s governance rights remain unchanged with its 50% ownership in HIP G.P., which controls the general partner. That said, we expect HoldCo will maintain the same governance rights until it sells its entire stake in HESM." S&P said, "Our 'BB-' issuer credit rating on HoldCo reflects its structurally subordinated credit quality relative to that of HESM. We continue to rate HoldCo under our noncontrolling equity interest criteria as it relies exclusively on distributions from HESM to service its financial obligations and has no substantive assets other than its equity interest in HESM. The rating incorporates our view of HoldCo's cash flow stability, corporate and governance policy, financial ratios, and ability to liquidate its investments in HESM to repay its approximately $195 million outstanding senior secured term loan as of March 3, 2025. "Our base case expectation is for HoldCo to maintain its current level of ownership in HESM and to receive steadily rising distributions from HESM for the forecast period. HoldCo exclusively relies on distributable cash from HESM on a quarterly basis to service debt obligations. We view HESM's cash flows and contract profile as relatively stronger than its midstream peers'. This is because its cash flows are backed by long-term and 100% fee-based contracts with approximately 85% of revenue supported by minimal volume commitments. As the demand for crude and natural gas remains high and production in the Bakken continues growing, we expect HESM's S&P Global Ratings-adjusted EBITDA will rise by at least 15% in 2025. In addition, HESM's distribution per share (DPS) has increased quarter over quarter since its inception. In our base-case scenario, we expect HESM's DPS will continue to grow about 5% annually at least through 2027. Thus, our view of HoldCo's cash flow stability is positive. "HoldCo has substantial governance rights over HESM with its shared control in the partnership. While Hess controls HESM's day-to-day operations, there are certain actions requiring GIP approval. These include, but are not limited to, changes to its distribution policy; the modification or termination of its commercial agreements with Hess; issuing debt or equity securities; and approving a reorganization, consolidation, or merger. Given the 50-50 structure and shared control with Hess, we believe HESM is incentivized to distribute all available cash to its sponsors and public unitholders on a quarterly basis. We also believe it is unlikely GIP would support a change to HESM's distribution policy that would negatively affect HoldCo. These factors support our positive corporate and governance policy assessment. "At its price, HoldCo could sell its entire stake in HESM and repay its total debt by about 3.9x. HoldCo currently holds approximately 18.1 million units in HESM. Year to date, HESM’s average daily trading volume is over one million shares. We believe it would take a relatively short period of time for HoldCo to liquidate its entire stake in HESM. Thus, we view HoldCo's ability to liquidate its investments in HESM as neutral. "While we forecast HoldCo will receive lower distributions due to lower ownership in HESM, we expect its financial ratios will remain neutral throughout the outlook period. We forecast distributions from HESM will drop to $60 million-$65 million in 2025. HoldCo's term loan B is subject to an excess cash flow (ECF) sweep of 75% when leverage is above 3.5x, 50% when leverage is above 2.5x, and 25% when leverage is above 1.5x for test periods after Dec. 31, 2024. With forecast distributions from HESM and ECF sweep, we expect S&P Global Ratings-adjusted debt to EBITDA will remain 2.5x-3.0x and S&P Global Ratings-adjusted EBITDA interest coverage will remain 3.5x-4.25x through 2025. We note that HoldCo's credit metrics could deteriorate if it continues lowering its ownership in HESM without using proceeds to repay its outstanding debt. "In addition, HoldCo's financial metrics are in the stronger end among its similarly structured holding company peers. Therefore, we apply our positive comparable rating analysis. "The stable outlook on HoldCo reflects our expectation that its S&P Global Ratings-adjusted debt to EBITDA will remain 2.5x-3.0x and S&P Global Ratings-adjusted EBITDA interest coverage ratio will remain 3.5x-4.25x through 2025. We also expect HESM will increase its distributions at least 5% annually. While our base case assumes HoldCo will maintain its current level of ownership stake in HESM over the forecast period, we expect it will use the net proceeds to repay its debt to maintain conservative financial ratios if HoldCo continues to lower its ownership in HESM." S&P could consider a negative rating action if: -- Its S&P Global Ratings-adjusted debt to EBITDA deteriorates to above 4x; or -- S&P anticipates HESM's credit quality will deteriorate. S&P said, "Although higher ratings are unlikely due to our view that its debt is structurally subordinated to HESM, we could consider a positive rating action only if we raise our stand-alone credit rating on HESM." GLOBAL CONCESSIONS: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Global Concessions Inc. 1693 Washington Road Atlanta GA 30344 Business Description: Global Concessions, Inc., established in 1990 and headquartered in Atlanta, Georgia, specializes in operating food and beverage concessions, primarily within major transportation hubs across the United States. The Company has expanded its portfolio to include a diverse range of dining experiences, from quick-service partnerships with renowned brands like IHOP Express, Ben & Jerry's, and Nathan's Famous, to unique, stand-alone restaurants such as Sweet Georgia's Juke Joint and One Flew South. Chapter 11 Petition Date: April 2, 2025 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 25-53640 Debtor's Counsel: Benjamin Keck, Esq. KECK LEGAL, LLC 2801 Buford Highway NE Suite 115 Atlanta GA 30329 Tel: 470-826-6020 E-mail: bkeck@kecklegal.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Terrance D. Harps as president and chairman. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/S5PPJLY/Global_Concessions_Inc__ganbke-25-53640__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. City of Atlanta - DOA Rent $4,596,000 P.O. Box 920500 Atlanta, GA, 30392-0500 Email: nidia.farnum@atl.com 2. HMS Host Guaranteed Debt $2,418,467 6705 Rockledge Drive Bethesda, MD, 20817 Email: derryl.Bentam@hmshost.com 3. U.S. Small Business PPP $1,406,969 Administration 2 North Street Suite 320 Birmingham, AL, 35203 Email: vivieon.jones@usdoj.gov 4. Eric Sloan 3 W/C Loan- $750,000 1392 Benteen Park Drive, SE Unsecured Atlanta, GA, 30315 Email: eric.sloan.jr@gmail.com 5. PFG Food Vendor $653,979 3500 Old Oakwood Road Oakwood, GA, 30566 Email: jeremy.taylor2@pfgc.com 6. Michael Gaillard Loans-Unsecured $275,000 3671 Strath Drive Alpharetta, GA, 30005 Email: mike.gaillard@yahoo.com 7. AATC Utilities $230,000 P.O. Box 82915 Atlanta, GA, 30354 Email: kgreen@aatc.org 8. PWH Mechanical, Inc. Repairs and $223,243 472 Circle 85 Street Maintance Atlanta, GA, 30349 Email: theardpwh@aol.com 9. Georgia Department of Revenue Taxes & Other $148,000 1800 Century Center Boulevard Government Suite 12000 Units Atlanta, GA, 30345-3209 Email: gtc.dor.ga.gov 10. Thompson Hine Legal Services $75,000 3560 Lenox Road Atlanta, GA, 30326 Email: michael.coleman@thompsonhine.com 11. Bailey International Food Vendor $50,000 3312-B N. Berkeley Lake Road Duluth, GA, 30096 Email: xwang@bailyatl.com 12. Royal Foods Food Vendor $50,000 P.O. Box 162389 Atlanta, GA, 30321 Email: bbratteri@royalfoodservice.com 13. James Gray LLC IT Contractor $50,000 3747 Wartrace Drive Atlanta, GA, 30331 Email: james.gray@georgiamsp.com 14. Severn Gainer Loan-Unsecured $30,000 167 Trinity Avenue Atlanta, GA, 30303 Email: atfnmg@aol.com 15. McGriff Bonds $26,306 P.O. Box 11407 Birmingham, AL, 35246 Email: dthompson@mcgriff.com 16. Coca-Cola Drink Vendor $22,000 P.O. Box 102703 Atlanta, GA, 30368 Email: tamararochell@ccbco.com 17. Coffee Beanery Food Products $21,000 3429 Pierson Place Flushing, MI, 48433 Email: janniferk@coffeebeanery.com 18. American Express Credit Card $20,000 P.O. Box 360001 Debt Los Angeles, CA, 90096 Email: corporatesecretarysoffice@aexp.com 19. Cornerstone Insurance Insurance $17,500 15915 Katy Freeway Suite 210 Houston, TX, 7709 Email: oyoung@cprtpa.com 20. Cincinnati Insurance Insurance $16,500 P.O. Box 145620 Cincinnati, OH, 45250 Email: Kerrie.cox@bbrown.com GOL LINHAS: Amends Plan to Include AerCap Secured Note Claims ------------------------------------------------------------- GOL Linhas Aereas Inteligentes S.A., and its affiliates submitted a Second Amended Disclosure Statement for Third Amended Joint Chapter 11 Plan dated March 11, 2025. The Debtors commenced these Chapter 11 Cases to accomplish a comprehensive restructuring of their balance sheet and operations following years of financial and operational difficulties following the COVID-19 pandemic and grounding of Boeing 737-8 MAX aircraft, which comprise a significant portion of the Debtors' fleet. The Plan implements the operational restructuring that the Company has been undergoing over the course of the last year while benefitting from the tools of chapter 11 and provides for a comprehensive restructuring of the Company's balance sheet and significant investment of new capital in the Company's business. The transactions contemplated in the Plan will strengthen the Company by substantially reducing its debt, increasing its cash flow, and enhancing operations for future growth. More specifically: * the Company will significantly deleverage its balance sheet by converting into equity, or otherwise extinguishing, approximately $1.7 billion of prepetition funded debt and up to $850 million of other obligations; * Abra, the Debtors' largest secured creditor and GLAI's majority prepetition economic interest holder, has agreed to equitize a significant portion of its claims in exchange for approximately $950-$1,050 million in New Equity, which amounts to approximately 76-81% of the New Equity as of the Effective Date. In addition, Abra will receive $850 million of take-back debt, of which $250 million will be mandatorily exchangeable into New Equity on or after the 30-month anniversary of the Effective Date conditioned on the Debtors having achieved certain valuation metrics, which would result in Abra holding approximately $1.2 $1.3 billion in New Equity, or approximately 80-84% of the New Equity (prior to any mandatory exchange and/or redemption which may occur). The percentage of Abra's New Equity holdings is subject to dilution by any Incremental New Money Equity issued and varies based upon timing of emergence due to on-going accrual of adequate protection payments of in-kind interest, as well as an agreement to provide up to an additional approximately $75 million of value in New Equity to holders of General Unsecured Claims, which today reflects 50% of the difference between the aggregate amount of value to be distributed under the Plan to the holders of Allowed 2026 Senior Secured Notes Claims and $252,565,388.89; * the Debtors intend to raise up to $1.9 billion of new capital in the form of (i) the Exit Notes to repay the DIP Facility and (ii) Incremental New Money Exit Financing to provide incremental liquidity to support the Reorganized Debtors' business strategy following their emergence from chapter 11; * certain other secured obligations will be exchanged for take-back debt; * the Debtors will assume their restructured Aircraft Leases in accordance with the Lessor Agreements that have already been negotiated and agreed; and * unsecured creditors will receive New Equity valued at up to approximately $235 million (and possibly more depending upon the resolution of certain issues). The New Equity issued in accordance with the Plan will be issued at New GOL Parent, a new entity to be formed or acquired on or prior to the Effective Date to hold, directly or indirectly through one or more entities, 100% of the equity interests of Reorganized GLAI (excluding the Existing GLAI Equity Interests and any equity issued through the GLAI Preemptive Rights Offering). It is currently contemplated that New Equity will not be traded on any public listing exchange on the Effective Date, and New GOL Parent is contemplated to be structured as a company organized under the laws of Luxembourg, with a subsidiary intermediate holding company organized under the laws of Brazil, for tax and other corporate reasons. Among other potential benefits, this structure may enable future sales of shares of New GOL Parent to be exempted from capital gains taxes in certain jurisdictions, may allow claims to be capitalized into Reorganized GLAI without creating certain tax implications, and may facilitate potential future dividend payments by Reorganized GLAI. The recoveries for holders of General Unsecured Claims for each Debtor entity were a product of the settlements and compromises agreed to in the Plan Support Agreement and the Plan. Given the nature of the global settlement among the Committee, Abra, and the Debtors, it was agreed that the settlement value for holders of General Unsecured Claims would principally be allocated to GLA, the Debtors' main operating subsidiary and the entity from which the value allocated to Abra on account of the Allowed 2028 Secured Claims is located. In addition, each of the Debtors funded debt holders and the vast majority of the Debtors' unsecured creditors have Claims (whether primary or guarantee) at GLA, and there is de minimis value (if any) at the other Debtor entities other than intercompany claims. The allocation of the settlement value also takes into consideration intercompany claims against GLA with the same validity as all other claims at GLA. Accordingly, any settlement value allocated to a Debtor other than GLA by virtue of an intercompany claim, will be distributed to the holders of Allowed Claims at that Debtor entity in accordance with the terms of the Plan. Class 6 consists of all Debenture Banks Claims. Pursuant to the Debenture Banks Stipulation and Debenture Banks Order, on the Effective Date, in full and final satisfaction of its Allowed Debenture Banks Claim, each holder of an Allowed Debenture Banks Claim shall receive the treatment set forth in the Debenture Banks Stipulation and Debenture Banks Order, and the Amended Debentures shall become binding on, and vest with, the applicable Reorganized Debtors, in each case as agreed to by the Debenture Banks in the Debenture Banks Stipulation and Debenture Banks Order. On the Effective Date, the outstanding BdoB Letters of Credit, Santander Letters of Credit, and the Bradesco Letters of Credit and the Reimbursement Agreement applicable to each of the foregoing, shall be Reinstated and, following the Effective Date, shall continue in full force and effect and continue to be renewed subject to the terms and conditions of the Debenture Banks Stipulation and Debenture Banks Order. Any amounts due and owing to a Debenture Bank as of the Effective Date under any such Reimbursement Agreement shall be paid to the applicable Debenture Bank on the later of the (x) Effective Date and (y) date such amounts are due under the Reimbursement Agreement, and the Debenture Banks shall not be obligated to file a request for payment of any Administrative Expense arising under any Reimbursement Agreement on or before the Administrative Expense Bar Date. For the avoidance of doubt, any BdoB Letters of Credit, Santander Letters of Credit, or Bradesco Letters of Credit that are drawn on or after the Effective Date shall be repaid in the ordinary course of the Reorganized Debtors' business. Class 7 consists of the AerCap Secured Note Claims. Pursuant to the AerCap Settlement Order, the AerCap Term Sheet, and the AerCap Secured Note Order, the AerCap Secured Note Claims shall be Allowed in accordance with, and on the terms set forth in, the AerCap Settlement Order, the AerCap Secured Note Order, and the AerCap Secured Note Documents entered into in connection with the AerCap Secured Note Order. The Allowed AerCap Secured Note Claims shall be entitled to the treatment set forth in the AerCap Secured Note Order and the AerCap Secured Note Documents, and the obligations, security interests, and guarantees provided for in the AerCap Secured Note Documents shall become binding on, and vest with, the applicable Reorganized Debtors on the Effective Date. Class 7 is Impaired under the Plan. Holders of AerCap Secured Note Claims are entitled to vote to accept or reject the Plan. The Reorganized Debtors shall fund distributions under the Plan required to be paid in Cash, if any, with Cash on hand (including Cash from operations and Cash received under the DIP Facility and refinanced pursuant to the Exit Notes) and from the Cash proceeds from the issuance of any Incremental New Money Exit Financing. A full-text copy of the Second Amended Disclosure Statement dated March 11, 2025 is available at https://urlcurt.com/u?l=CGmCVZ from Kroll Restructuring Administration LLC, the claims agent. The Debtors' Counsel: Evan R. Fleck, Esq. Andrew C. Harmeyer, Esq. Bryan V. Uelk, Esq. MILBANK LLP 55 Hudson Yards New York, NY 10001 Telephone: (212) 530-5000 Facsimile: (212) 530-5219 E-mail: efleck@milbank.com aharmeyer@milbank.com buelk@milbank.com - and - Gregory A. Bray, Esq. MILBANK LLP 2029 Century Park East, 33rd Floor Los Angeles, CA 90067 Telephone: (424) 386-4000 Facsimile: (213) 629-5063 E-mail: gbray@milbank.com - and - Andrew M. Leblanc, Esq. Erin E. Dexter, Esq. MILBANK LLP 1850 K St. NW, Suite 1100 Washington, DC 20006 Telephone: (202) 835-7500 Facsimile: (202) 263-7586 E=mail: aleblanc@milbank.com edexter@milbank.com About Gol GOLL4.SA GOL Linhas Aereas Inteligentes S.A. provides scheduled and non-scheduled air transportation services for passengers and cargo; and maintenance services for aircraft and components in Brazil and internationally. The company offers Smiles, a frequent-flyer program to approximately 20.5 million members, allowing clients to accumulate and redeem miles. It operates a fleet of 146 Boeing 737 aircraft with 674 daily flights. The company was founded in 2000 and is headquartered in Sao Paulo, Brazil. GOL Linhas Aereas Inteligentes S.A. and its affiliates and its subsidiaries voluntarily filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 24-10118) on Jan. 25, 2024. GOL Linhas estimated $1 billion to $10 billion in assets as of the bankruptcy filing. The Debtors tapped Milbank Llp as counsel, Seabury Securities Llc as restructuring advisor, financial advisor and investment banker, Alixpartners, LLP, as financial advisor, and HUGHES Hubbard & Reed LLP as aviation related counsel. Kroll Restructuring Administration LLC is the claims agent. GOLD FLORA: Enters Receivership, Court Appoints Receiver -------------------------------------------------------- Gold Flora Corporation, a cannabis company with operations throughout California, announced that it filed for voluntary receivership in the State of California on March 27, 2025. The decision follows mounting financial pressures, including liabilities from legacy lawsuits tied to the Company's acquisition of TPCO Holding Corp (also known as The Parent Company), rising operational expenses, and high-yield debt obligations. The Company also received a notice of default from J.J. Astor & Co. related to senior secured promissory notes issued between August and December 2024. These events of default have brought the total outstanding principal and interest under the notes to approximately $11.5 million. Gold Flora expects the Los Angeles Superior Court, Santa Monica Division, to confirm the receivership and appoint Richard Ormond of Stone Blossom Capital, LLC—one of California's most experienced cannabis receivers—to oversee the process. Despite these developments, Gold Flora plans to continue operating as a going concern during the receivership process. The Company's core assets include 16 dispensaries and a 100,000-square-foot cultivation campus, which it intends to sell in an orderly manner. "This was a difficult but necessary step to protect the long-term interests of all stakeholders," said Laurie Holcomb, CEO and founder of Gold Flora. "While our business continues to generate over $100 million in annual revenue and remains a leader in California's cannabis market, the legacy liabilities inherited through the TPCO merger left us with no viable alternative. Receivership is the best available path to preserve the Company's value and avoid a piecemeal breakup by creditors." Holcomb emphasized that, following a thorough review of all options and in the absence of alternative solutions, the board of directors determined that entering receivership was in the best interest of the Company and its stakeholders. About Gold Flora Corp. Gold Flora Corporation is a female-led, vertically-integrated cannabis leader that owns and operates multiple premium indoor cannabis cultivation facilities, 16 retail dispensaries in strategic geographies, a distribution business selling first party and third party brands into hundreds of dispensaries across California, and a robust portfolio of 8 cannabis brands, including Gramlin, one of the fastest growing brands in the state. The Company's retail operations include Airfield Supply Company, Caliva, Coastal, Calma, King's Crew, Varda, Deli, and Higher Level dispensaries, and its distribution company operates under the name Stately Distribution. GULFVIEW AVIATION: Sec. 341(a) Meeting of Creditors on May 7 ------------------------------------------------------------ On April 1, 2025, Gulfview Aviation LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on May 7, 2025 at 02:00 PM. U.S. Trustee (T/FM) will hold the meeting telephonically. Call in Number: 866-910-0293. Passcode: 7560574. About Gulfview Aviation LLC Gulfview Aviation LLC is an aviation company based in Hudson, FL, specializing in a range of aviation services, including aircraft maintenance, sales, and rental services to meet the diverse needs of its clientele. Gulfview Aviation LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla.Case No. 25-02069) on April 1, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Roberta A. Colton handles the case. The Debtor is represented by Harley E. Riedel, Esq. at STICHTER, RIEDEL, BLAIN & POSTLER, P.A. HARP AND CLOVER: Seeks to Hire Tameria Driskill as Legal Counsel ---------------------------------------------------------------- Harp and Clover, LLC seeks approval from the U.S. Bankruptcy Administrator for the Northern District of Alabama to hire Tameria Driskill, Esq., an attorney practicing in Gadsden, Ala., to handle its Chapter 11 case. Ms. Driskill will render these legal services: (a) advise the Debtor regarding its powers and duties; (b) negotiate and formulate a plan of reorganization under Chapter 11 acceptable to the creditors of the Debtor or approved by the bankruptcy court over objection; (c) deal with secured claim holders regarding adequate protection and arrangements for payment of the Debtor's debts or contesting the validity of claims or liens; (d) prepare legal papers; and (e) provide all other legal services which may become necessary in the Chapter 11 case. Ms. Driskill will be paid at her hourly rate of $350, plus reimbursement of expenses incurred. The attorney received a retainer of $5,000 from the Debtor for pre-bankruptcy and post-petition services. Ms. Driskill disclosed in a court filing that she is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: Tameria S. Driskill, Esq. Williams Driskill Huffstutler & King 2100 Club Drive, Ste. 150 Gadsden, AL 35901 Telephone: (256) 442-0201 Email: tammy@williamsattorneyatlaw.com About Harp and Clover Harp and Clover, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-40308) on March 6, 2025, listing up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Judge James J. Robinson presides over the case. Tameria S. Driskill, Esq., at Tameria S. Driskill, LLC represents the Debtor as legal counsel. HERITAGE COAL: Seeks Chapter 11 Bankruptcy in Delaware ------------------------------------------------------ On March 30, 2025, Heritage Coal & Natural Resources LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 100 and 199 creditors. The petition states funds will be available to unsecured creditors. About Heritage Coal & Natural Resources LLC Heritage Coal & Natural Resources LLC is a coal mining company based in Meyersdale, Pennsylvania that specializes in coal extraction and processing operations in Somerset County. The company operates from its principal location at 1117 Shaw Mine Road and maintains multiple coal leases with regional landowners including Allegany Coal and Land Company, Beechwood Coal LLC, and Shaw Big Vein Coal Company for its mining operations. Heritage Coal & Natural Resources LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10602) on March 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Mary F. Walrath handles the case. The Debtor is represented by Jeffrey R. Waxman at Morris James LLP. HIGH WIRE: Raises Stockholder Meeting Quorum to 33.33% ------------------------------------------------------ High Wire Networks, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission it amended and restated the Company's Bylaws, effective immediately, to increase the quorum needed for stockholder meetings to one-third (33.33%) of the voting power of the shares issued and outstanding and entitled to vote at a meeting of stockholders. The Bylaws Amendment was previously unanimously approved by the Company's Board of Directors. A full-text copy of the Company's Amended and Restated Bylaws is available at: https://tinyurl.com/4vennuw4 About High Wire High Wire Network, Inc., incorporated on Jan. 20, 2017, is a global provider of managed cybersecurity, managed networks, and tech-enabled professional services delivered exclusively through a channel sales model. The Company's Overwatch managed security platform-as-a-service offers organizations end-to-end protection for networks, data, endpoints, and users via multiyear recurring revenue contracts in this fast-growing technology segment. HWN has continuously operated under the High Wire Networks brand for 23 years. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2014, issued a "going concern" qualification in its report dated April 19, 2024, citing that the Company has incurred losses since inception, has negative cash flows from operations, and has negative working capital, which creates substantial doubt about its ability to continue as a going concern. HISTORIC TIMBER: Court Extends Cash Collateral Access to June 12 ---------------------------------------------------------------- Historic Timber & Plank, Inc. received fifth interim approval from the U.S. Bankruptcy Court for the Southern District of Illinois to use the cash collateral of its secured creditors. The fifth interim order approved the use of cash collateral of the Internal Revenue Service and First Bank of the Lake to pay the company's operating expenses for the period from March 21 to June 12 in accordance with its budget. Historic Timber & Plank must strictly adhere to the approved budget. Any non-compliance or default could terminate its right to use cash collateral. The IRS holds tax liens totaling $352,175, while First Bank of the Lake is owed around $5.24 million under a promissory note secured by the company's assets. To protect the secured creditors, the court granted them replacement liens on post-petition assets and ordered the company to make monthly payments of $4,000 to First Bank of the Lake. A further hearing is scheduled for June 12. First Bank of the Lake is represented by: David A. Shapiro, Esq. McKenna Storer 33 N. LaSalle Street, Suite 1400 Chicago, IL 60602 Tel: (312) 558-3900 Fax: (312) 558-8348 dshapiro@mckenna-law.com service@mckenna-law.com About Historic Timber & Plank Historic Timber & Plank, Inc., a company in Jerseyville, Ill., filed Chapter 11 petition (Bankr. S.D. Ill. Case No. 24-30423) on June 28, 2016, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. Joseph Adams, president of Historic Timber & Plank, signed the petition. Judge Laura K. Grandy oversees the case. Desai Law Firm, LLC serves as the Debtor's bankruptcy counsel. HOOTERS OF AMERICA: Gets Approval to Tap $5MM of $40MM DIP Loan --------------------------------------------------------------- Emily Lever of Law360 reports that on March 2, 2025, a Texas bankruptcy judge approved Hooters of America LLC's access to $5 million in interim financing from a $40 million debtor-in-possession package provided by its prepetition lenders as the bankrupt restaurant chain shifts to a franchise-only model. Troubled Company Reporter, citing Reshmi Basu and Carmen Arroyo of Bloomberg News, previously reported that Bracebridge Capital is among the lenders providing bankruptcy financing to Hooters of America to support its Chapter 11 proceedings, according to sources who requested anonymity due to the matter's confidentiality. The restaurant chain filed for bankruptcy on Monday, March 31, 2025, involving approximately $300 million in asset-backed bonds tied to its franchise. Hooters is seeking court approval for $40 million in debtor-in-possession financing from existing lenders, including $35 million in new capital, the company announced in a press release on Monday, the report states. About Hooters of America Hooters of America, LLC, owner and operator of a restaurant chain with hundreds of locations in the United States, and its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Lead Case No. 25-80078, Bankr. N.D. Texas) on March 31, 2025. Founded in 1983, the Debtors own and operate Hooters, a renowned brand in the casual dining and sports entertainment industries. Their global portfolio includes 151 company-owned and operated locations and 154 franchised locations across 17 countries. Known for their world-famous chicken wings, beverages, live sports, and legendary hospitality, the Debtors also partner with a major food products licensor to offer Hooters-branded frozen meals at 1,250 grocery store locations. The case is before the Hon. Scott W Everett. The Debtors Co-Bankruptcy Counsel are Holland N. O'Neil, Esq., Stephen A. Jones, Esq., and Zachary C. Zahn, Esq., at FOLEY & LARDNER LLP, in Dallas, Texas. The Debtors' General Bankruptcy Counsel are Ryan Preston Dahl, Esq., at ROPES & GRAY LLP, in New York, and Chris L. Dickerson, Esq., Rahmon J. Brown, Esq., and Michael K. Wheat, Esq., at ROPES & GRAY LLP, in Chicago, Illinois. The Debtors' Investment Banker is SOLIC CAPITAL, LLC. The Debtors' Financial Advisor is ACCORDION PARTNERS, LLC. The Debtors' Notice, Claims, Solicitation & Balloting Agent is KROLL RESTRUCTURING ADMINISTRATION LLC. HYPERSCALE DATA: Issues $4.19M Convertible Note in Exchange Deal ---------------------------------------------------------------- Hyperscale Data, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into an Exchange Agreement with Orchid Finance LLC, a Nevada limited liability company, pursuant to which the Company issued to the Investor a convertible promissory note in the principal face amount of $4,193,314.54 in exchange for the cancellation of: (i) a term note issued by the Company to the investor on May 16, 2024, (ii) a term note issued by the Company to the investor on May 20, 2024, and (iii) a convertible note issued by the Company to the investor on February 5, 2025, which Note 1, Note 2 and Note 3, as of the Closing, had outstanding principal and accrued but unpaid interest of $715,801.82, $1,523,098.31 and 1,954,414.41, respectively. The Note: * has a principal face amount of $4,193,314.54. * accrues interest at the rate of 15% per annum, unless an event of default occurs, at which time the Note would accrue interest at 18% per annum. * will mature on June 30, 2025. * is convertible into shares of the Company's class A common stock, par value $0.001 per share at any time after NYSE American approval of the Supplemental Listing Application at a conversion price equal to the greater of: (i) $0.40 per share, which Floor Price shall not be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) the lesser of 75% of the VWAP of the Common Stock during the five trading days immediately prior to (A) the Closing Date or (B) the date of conversion into shares of Common Stock. The Conversion Price is only subject to adjustment in the event that the Company does a stock split or similar transaction of the Common Stock. The Company may not issue Conversion Shares to the extent such issuances would result in an aggregate number of shares of Common Stock exceeding 19.99% of the total shares of Common Stock issued and outstanding as of the Closing Date, in accordance with the rules and regulations of the NYSE unless the Company first obtains stockholder approval. Pursuant to the Agreement, the Company agreed to file a proxy or information statement to obtain the Stockholder Approval. The Note contains standard and customary events of default including, but not limited to, failure to pay amounts due under the Note when required, failure to deliver Conversion Shares when required, default in covenants and bankruptcy events. The Agreement contains customary representations, warranties and agreements by the Company, obligations of the parties, termination provisions and closing conditions. The representations, warranties and covenants contained in the Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such Agreement, and may be subject to limitations agreed upon by the contracting parties. About Hyperscale Data Headquartered in Las Vegas, NV, Hyperscale Data, Inc., formerly known as Ault Alliance, Inc., is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. New York, New York-based Marcum LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 16, 2024, citing that the Company has a working capital deficiency, has incurred net 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. INDEPENDENT PHYSICIAN: Hires Hill Barth & King as Accountant ------------------------------------------------------------ Independent Physician Services, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Hill, Barth, & King as accountant. The firm will prepare the Debtor's various tax returns and filings. The accountants have agreed to prepare and file those returns for a flat fee of $4,999. Hill Barth represents no interest adverse to the Debtor, or to its estate, in any matters for which HBK is engaged to represent the Debtor, and is disinterested, according to court filings. The firm can be reached through: Donny R. Young, CPA Hill, Barth and King, LLC 200 N Warner Road, Suite 210 King of Prussia, PA 19406 Phone: (215) 628-8080 About Independent Physician Services, LLC Independent Physician Services, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa. Case No. 24-23025) on Dec. 13, 2024, listing $100,001 to $500,000 in both assets and liabilities. Judge John C Melaragno presides over the case. The Debtor hires Thompson Law Group, P.C. as counsel. INTEGRITY GENERAL: Furniture & Equipment Sale to Pivo Realty OK'd ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, has permitted Integrity General Contractors LLC and affiliates, to sell Property, free and clear of all leins, interests, and encumbrances. The Court has authorized the Debtor to sell its rights, titles, and interests in the office furniture, furnishings, and equipment located at 615 Six Flags Drive, Arlington, Texas to Pivo Realty LLC for a gross purchase price of $5,000 cash. The Court determined that the sale of the Property is in the best interest of the Debtor, its estate, its creditors, and other parties. The Court ordered to sell the Property free and clear of liens, claims, and encumbrances. About Integrity General Contractors LLC Integrity General Contractors, LLC is a full-service commercial construction company in Arlington, Texas. Integrity General Contractors filed Chapter 11 petition (Bankr. N.D. Texas Case No. 24-33645) on November 10, 2024, with $1 million to $10 million in both assets and liabilities. Judge Scott W. Everett oversees the case. John P. Lewis, Jr., Esq., at Hayward PLLC is the Debtor's legal counsel. IVANTI SOFTWARE: LRFC Marks $3M 2L Senior Secured Debt at 42% Off ----------------------------------------------------------------- Logan Ridge Finance Corp. has marked its $3,000,000 loan extended to Ivanti Software Inc. to market at $1,729,000 or 58% of the outstanding amount, according to LRFC's Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission. LRFC is a participant in a Second Lien/Senior Secured Debt to Ivanti Software Inc. The debt accrues interest at a rate of 12.12 percent per annum. The debt matures on December 1, 2028. LRFC is an externally managed non-diversified closed-end management investment company incorporated in Maryland that has elected to be regulated as a business development company under the Investment Company Act of 1940. It is managed by Mount Logan Management LLC, an investment adviser that is registered as an investment adviser under the Investment Advisers Act of 1940, and BC Partners Management LLC, which provides the administrative services necessary for it to operate. LRFC may invest in first lien loans, which have a first priority security interest in all or some of the borrower's assets. In addition, its first lien loans may include positions in "stretch" senior secured loans, also referred to as "unitranche" loans, which combine characteristics of traditional first lien senior secured loans and second lien loans, providing it with greater influence and security in the primary collateral of a borrower and potentially mitigating loss of principal should a borrower default. LRFC may also invest in second lien loans, which have a second priority security interest in all or substantially all of the borrower's assets. In addition to debt securities, it may acquire equity or detachable equity-related interests (including warrants) from a borrower. It also intends to target investments that mature in four to six years from its investment. The Fund is led by Ted Goldthorpe as chief executive officer and president; Brandon Satoren as chief financial officer, and Alexander Duka as director. The company can be reached through: Logan Ridge Finance Corp. 650 Madison Avenue, 3rd Floor New York, New York 10022 Telephone: (212) 891-2880 About Ivanti Software Inc. Ivanti is an information technology (IT) and software company headquartered in South Jordan, Utah. It produces software for IT Security, IT Service Management, IT Asset Management, Unified Endpoint Management, Identity Management and supply chain management. JACKSON HOSPITAL: Committee Taps Sills Cummis & Gross as Co-Counsel ------------------------------------------------------------------- The official committee of unsecured creditors of Jackson Hospital & Clinic, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Alabama to employ Sills Cummis & Gross P.C. as its attorneys. The firm will render these services: a. provide legal advice regarding the Committee's rights, powers, and duties in these cases; b. prepare all necessary applications, answers, responses, objections, orders, reports, and other legal papers; c. represent the Committee in any and all matters arising in these cases, including any dispute or issue with the Debtors or other third parties; d. appear at hearings and other proceedings to represent the interests of the Committee; e. assist the Committee in its investigation and analysis of the Debtors, their capital structure, and issues arising in or related to these cases; f. represent the Committee in all aspects of any sale and bankruptcy plan confirmation proceedings; g. perform any and all other legal services for the Committee that may be necessary or desirable in these cases. The firm's counsel and staff will be paid at these hourly rates: Andrew Sherman, Member $1,150 Boris Mankovetskiy, Member $985 S. Jason Teele, Member $985 Michael Savetsky, Member $895 Jeffrey Kramer, Member $895 Gregory Kopacz, Member $850 Oleh Matviyishyn, Associate $525 In addition, the firm will seek reimbursement for expenses incurred. Mr. Sherman 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: Andrew H. Sherman, Esq. Sills Cummis & Gross PC One Riverfront Plaza Newark, NJ 07102 Telephone: (973) 643-7000 Facsimile: (973) 643-6500 Email: asherman@sillscummis.com About Jackson Hospital & Clinic Inc. Jackson Hospital & Clinic, Inc. is a non-membership, non-profit corporation based in Alabama. JHC is the direct or indirect parent company of JHC Pharmacy, LLC, an Alabama limited liability company that provides pharmacy services to JHC patients. JHC owns 100% of JHC Pharmacy. Additionally, JHC is a direct or indirect parent company of certain other entities that have not filed for bankruptcy. JHC operates a 344-bed healthcare facility in Montgomery, Ala., with a rich history dating back to 1894. Since its official opening in 1946, JHC has grown into one of the largest hospitals in Alabama, offering specialized services in cardiac care, cancer treatment, neurosciences, orthopedics, women's care, and emergency services. JHC's service area includes 16 counties across central Alabama. JHC and JHC Pharmacy filed Chapter 11 petitions (Bankr. M.D. Ala. Lead Case No. 25-30256) on February 4, 2025. In its petition, JHC reported between $100 million and $500 million in both assets and liabilities. Judge Christopher L. Hawkins handles the cases. The Debtors are represented by: Derek F. Meek, Esq. Marc P. Solomon, Esq. James P. Roberts, Esq. Andrew P. Cicero, III, Esq. Catherine T. Via, Esq. Burr & Forman, LLP 420 20th Street North, Suite 3400 Birmingham, AL 35203 Tel: (205) 251-3000 Email: dmeek@burr.com msolomon@burr.com jroberts@burr.com acicero@burr.com cvia@burr.com JAG PUBLIC: Seeks Subchapter V Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, JAG Public Safety LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filing, the Debtor reports $2,287,649 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About JAG Public Safety LLC JAG Public Safety LLC is a comprehensive service provider specializing in traffic control solutions. The Company offers a variety of services, including the sale, rental, and repair of traffic control devices such as barricades, attenuators, and other essential equipment. It also provides certified traffic control plans, lane closure management, and utility services, focusing on ensuring safety and efficiency in work zones. JAG Public Safety LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-50692) on March 31, 2025. In its petition, the Debtor reports total assets of $1,156,383 and total debts of $2,287,649. Honorable Bankruptcy Judge Michael M. Parker handles the case. The Debtor is represented by Robert C Lane, Esq. at THE LANE LAW FIRM. JAZ NCR: Seeks to Extend Plan Exclusivity to June 12 ---------------------------------------------------- JAZ NCR, LLC and JAZ NCR Holdings, LLC, asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 12 and August 11, 2025, respectively. The Debtors explain that the extension of the Exclusivity Periods will allow the Bar Date to pass, providing JAZ NCR, LLC time to assess any and all creditors in this case and generate an inclusive plan addressing all claims. The Debtors claim that JAZ NCR, LLC's creditors will not be prejudiced by the requested extension; on the contrary, JAZ NCR, LLC's creditors will be best served with an extension of the Exclusivity Periods, as it will help determine the precise amount due to each creditor. The Debtors assert that JAZ NCR, LLC, JAZ NCR Holdings, LLC, Century Mining, LLC, and Taurus Mining Finance Fund No. 2, L.P. continue to work towards a consensual global resolution of all disputes. In addition, JAZ NCR, LLC intends to file a plan within the extension of the Exclusivity Period but reserves all rights to request an additional extension of time should more time become necessary. Attorneys for the Debtors: Kirk B. Burkley, Esq. Harry W. Greenfield, Esq. BERNSTEIN-BURKLEY, P.C. 601 Grant Street 9th Floor Pittsburgh, PA 15219 Tel: (412) 456-8100 E-mail: kburkley@bersteinlaw.com About JAZ NCR LLC JAZ NCR LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 24-22804) on Nov. 14, 2025, listing $1 million to $10 million in assets and $100 million to $500 million in liabilities. The petition was signed by D. Scott Kroh as manager. Judge Gregory L Taddonio presides over the case. Kirk B. Burkley, Esq. at BERNSTEIN-BURKLEY, P.C. represents the Debtor as counsel. JERMAINE WRX: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, Jermaine WRX Management LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Jermaine WRX Management LLC Jermaine WRX Management LLC is a healthcare management company based in Fort Worth, Texas. The company operates in the healthcare services sector, providing management and consulting services to healthcare entities as indicated by its NAICS classification code (5416) and its designation as a Health Care Business in its filing. Jermaine WRX Management LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41156) on March 31, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by M. Jermaine Watson at Cantey Hanger LLP. JULIA & JAMES: Asiana Owners Contest Receivership Jurisdiction -------------------------------------------------------------- Ryan Marshall of The Frederick News-Post reports that a Frederick County District Court judge made several significant errors that, according to the owner of a long-vacant building in downtown Frederick, should result in the reversal of the decision to place the property into receivership. This argument was presented in a court filing by the building's owner. Julia & James Properties LLC, the entity that owns the building at 123-125 N. Market St., the former location of Asiana restaurant, filed a motion with the Frederick County Circuit Court on Friday, March 28, 2025, seeking to overturn an order made during an August hearing to place the property into receivership, according to The Frederick News-Post. The city of Frederick is seeking to transfer the property to St. John Properties for renovation and sale under the city's law that addresses abandoned or blighted properties, according to report. However, the filing by Joseph L. Katz, attorney for Julia & James Properties, argues that the city's receivership ordinance is not part of any section of the city code that falls within the jurisdiction of the district court. "The Receivership Ordinance is a stand-alone law of the City of Frederick, and jurisdiction over it is not granted to the District Court by law," the filing states. The motion further argues that District Court Judge Earl W. Bartgis Jr. improperly denied Duk Hee Ro, one of the building's owners, the opportunity to speak on behalf of the company at the August hearing, forcing the company to be represented by an attorney. Bartgis ruled that the company had defaulted due to the lack of legal representation. Katz's motion also argues that Maryland law permits Ro to manage the LLC's affairs and represent the company in court. Additionally, Katz's motion asserts that the city misused the terms "vacant" and "unoccupied" in its receivership petition, incorrectly defining "unoccupied" as a building without an active use or occupancy permit. Ro testified at the hearing that the building was under active renovation, the report relays. In response to an earlier filing, Scott Waxter, attorney for the city, contended that Ro and Myung D. Ro, the other owner of Julia & James Properties, were individual defendants, while the company itself was a separate corporate defendant, the report states. In a Monday interview, Katz emphasized that, considering Frederick's historic significance, particularly in the Revolutionary and Civil Wars, the city should be especially mindful of due process when it comes to property seizure. About Julia & James Properties LLC Julia & James Properties LLC owns the building at 123-125 N. Market St., the former location of Asiana restaurant. KELLEY CORPORATION: Seeks Subchapter V Bankruptcy in Texas ---------------------------------------------------------- On April 1, 2025, Kelley Corporation filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filing, the Debtor reports $284,239 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Kelley Corporation Kelley Corporation based in Austin, Texas, specializes in excavation services, material sales, and haul-off site operations. The Company provides a range of construction materials, including topsoil, loam, and aggregates, catering to both large construction projects and residential improvements. The also operates a haul-off site in South Austin, accepting clean fill materials such as dirt, rock, and concrete without exposed rebar. Kelley Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10474) on April 1, 2025. In its petition, the Debtor reports total assets as of February 28, 2025 amounting to $1,432,361 and total liabilities as of February 28, 2025 of $284,239. Honorable Bankruptcy Judge Shad Robinson handles the case. The Debtor is represented by Frank B Lyon, Esq. KENYON SHERMAN: Seeks to Hire Jamison B. Taylor as Counsel ---------------------------------------------------------- Kenyon Sherman LLC seeks approval from the U.S. Bankruptcy Court for the District of Colombia to hire Jamison B. Taylor, an attorney based in Washington, DC. The firm's services include: a. preparing and filing all necessary and advisable motions, briefs, applications, memoranda, pleadings, notices, orders, objections to claims, stipulations, contested matters, adversary proceedings and other matters on behalf of the Debtor; b. negotiating with parties in interest with respect to the resolution of disputes, claims by or against the estate, or other matters affecting the administration of the estate; c. appearing in court on behalf of the Debtor; d. any other legal services reasonable necessary and advisable in connection with the foregoing. The firm will bill its regular hourly rate of $350. The firm received a retainer in the amount of $6,000. Mr. Jamison assured the court that he does not hold or represent any interest adverse to the Debtor or its estate. The firm can be reached through: Jamison Bryant Taylor, Esq. 1218 11th St. NM Washington, DC 20001 Phone: (202) 997-3802 Email: jtaylor@rismllc.com About Kenyon Sherman LLC Kenyon Sherman LLC is a Washington DC-based real estate company. Kenyon Sherman LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00022) on January 16, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtor is represented by Jamison Bryant Taylor, Esq. KOGNITIV US: April 11 Deadline Set for Panel Questionnaires ----------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of Kognitiv US LLC. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/9re7nhw8 and return by email it to Jane M.Leamy, Esq. -- jane.m.leamy@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Friday, April 11, 2025 at 4:00 p.m. Eastern Time. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Kognitiv US Kognitiv specializes in AI-powered loyalty and marketing technology, offering solutions for customer engagement, lifecycle optimization, and ad activation. Founded in 2008, its platform drives personalization at scale, improving ROI with real-time data insights. Kognitiv US sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10648) on April 2, 2025. In its petition, the Debtor reported $10 million to $50 million in assets and liabilities. Tim Sullivan, as authorized signatory, affixed his signature to the petition. The Hon. Brendan Linehan Shannon presides over the case. The Debtor is represented by Faegre Drinker Biddle & Reath LLP. KOGNITIV US: Seeks Chapter 11 Bankruptcy w/ Over $10MM Debt ----------------------------------------------------------- Yun Park of Law360 reports that Kognitiv US LLC, a customer loyalty platform, filed for Chapter 11 in Delaware bankruptcy court on April 2, 2025, citing liabilities exceeding $10 million and proposing to sell its assets to another loyalty platform. About Kognitiv US LLC Kognitiv US LLC a company specializing in loyalty solutions and customer engagement platforms. Kognitiv US sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10648) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtor is represented by Patrick A. Jackson, Esq. at Faegre Drinker Biddle & Reath LLP. KRT INC: Gets Final OK to Use Cash Collateral --------------------------------------------- The U.S. Bankruptcy Court for the District of Wyoming issued a final order authorizing KRT, Inc. to use cash collateral. The final order authorized the company to use cash collateral to pay the expenses set forth in its budget, which projects total disbursement of $6,048,200 from March to August. As protection, secured creditors were granted post-petition security interests in and liens on all post-petition assets of KRT, to the same nature, extent, validity and priority that existed pre-petition. In addition, secured creditors will be granted administrative claims in case the replacement liens do not adequately protect the diminution in value of their interests in their pre-bankruptcy collateral. About KRT Inc. KRT Inc. operates within the specialized freight trucking industry. KRT Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.W. Case No. 25-20036) on February 7, 2025. In its petition, the Debtor reported total assets of $6,382,948 and total liabilities of $7,272,774. Judge Cathleen D. Parker handles the case. The Debtor is represented by: Clark D. Stith, Esq. 505 Broadway Street Rock Springs, WY 82901 Tel: 307-382-5565 Fax: 307-382-5552 Email: clarkstith@wyolawyers.com KTRV LLC: April 10 Deadline Set for Panel Questionnaires -------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of KTRV LLC, et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/4bm43t7p and return by email it to Malcolm M.Bates, Esq. -- Malcolm.M.Bates@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Thursday, April 10, 2025 at 4:00 p.m. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About KTRV LLC KTRV is a Delaware holding company whose sole asset is its membership interest in HCNR, a Pennsylvania limited liability company. HCNR owns and operates five coal mines and related operations in Pennsylvania and Maryland. KTRV LLC and Heritage Coal & Natural Resources, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10601) on March 30, 2025. The petitions were signed by Brian Ryniker as chief restructuring officer. In the petition, KTRV LLC reported estimated assets of $50 million to $100 million and estimated liabilities of $50 million to $100 million, and Heritage Coal reported estimated assets of $100 million to $500 million and estimated liabilities of $100 million to $500 million The Debtors are represented by Morris James LLP. The Debtors' restructuring advisor is RKC, LLC d/b/a RK Consultants LLC, and the Debtors' claims and noticing agent is Stretto Inc. LIBERATED BRANDS: Committee Hires Kelley Drye & Warren as Counsel ----------------------------------------------------------------- The official committee of unsecured creditors of Liberated Brands, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ Kelley Drye & Warren LLP as its lead counsel. The firm will provide these services: a. advise the Committee with respect to its rights, duties and powers in these chapter 11 cases; b. assist and advise the Committee in its consultations with the Debtors and in connection with the administration of these cases, the investigation into historic conduct and transactions that may provide value for creditors, the sale process and any potential plan processes, and the ultimate disposition of the Debtors' estates; c. assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors; d. advise and represent the Committee in connection with matters generally arising in these cases, including the Debtors' motions to (i) obtain post petition financing and use cash collateral, and (ii) sell substantially all of their assets pursuant to an auction process; e. appear before this Court, and any other federal or state courts; f. prepare, on behalf of the Committee, any pleadings, including motions, memoranda, complaints, objections, and responses to matters arising in these cases; and g. perform such other legal services as may be required or are otherwise deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. The firm will be paid at these rates: Partners $855 to $1,635 per hour Special Counsel $545 to $1,060 per hour Associates $565 to $980 per hour Paraprofessionals $350 to $450 per hour The firm 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 Appendix B Guidelines. Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: Kelley Drye did not represent the Committee in the 12 months prepetition. Kelley Drye has represented other committees in the 12 months prepetition in other bankruptcy cases. Question: Has your client approved your prospective budget and staffing plan and, if so, for what budget period. Answer: Kelley Drye expects to develop a prospective budget and staffing plan to reasonably comply with the U.S. Trustee's request for information and additional disclosures, as to which Kelley Drye reserves all rights. James Carr, Esq. a partner at Kelley Drye & Warren 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: James S. Carr, Esq. Robert L. LeHane, Esq. Nathan S. Greenberg, Esq. 3 World Trade Center 175 Greenwich Street New York, New York 10007 Tel: (212) 808-7800 Fax: (212) 808-7897 Email: jcarr@kelleydrye.com rlehane@kelleydrye.com ngreenberg@kelleydrye.com About Liberated Brands Liberated is in the sport, outdoor, and lifestyle apparel industry. Liberated offers its customers access to products under high-quality brands such as Volcom, Billabong, Quiksilver, Spyder, RVCA, Roxy, and Honolua, in its 124 retail locations across the United States and through other channels. As an omnichannel apparel licensee with deep-rooted and unique expertise in trend forecasting and brand development, Liberated has attracted loyal customers in more than 100 countries. Liberated operates regional headquarters in North America, Europe, Japan, and Australia. On Feb. 2, 2025, Liberated Brands LLC and eight affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10168). The cases are pending before Honorable Judge J. Kate Stickles. Liberated has tapped Kirkland & Ellis, LLP and Klehr Harrison Branzburg LLP to facilitate the Chapter 11 restructuring process. AlixPartners LLC is the Debtors' financial advisor. Stretto is the claims agent. JP Morgan has retained Morgan, Lewis & Bockius LLP and Berkeley Research Group, LLC. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. LIBERATED BRANDS: Committee Taps Cole Schotz as Delaware Co-Counsel ------------------------------------------------------------------- The official committee of unsecured creditors of Liberated Brands, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ Cole Schotz P.C. as its Delaware co-counsel. The firm's services include: a. serving as Delaware co-counsel to the Committee; b. handling any matters in which Kelley Drye may have a conflict; c. providing legal advice with respect to the Committee's powers, rights, duties and obligations in the Chapter 11 Cases; d. assisting and advising the Committee in its consultations with the Debtors regarding the administration of the Chapter 11 Cases; e. assisting the Committee in reviewing and negotiating terms for unsecured creditors with respect to (i) the use of debtor in possession financing and cash collateral, (ii) any sale of the Debtors' assets, including negotiating bid procedures and proposed asset purchase agreements, (iii) the confirmation of a chapter 11 plan, and (iv) other requests for relief which would impact unsecured creditors; f. investigating the liens asserted by the Debtors' lenders and any potential causes of action against the Debtors' lenders; g. advising the Committee on the corporate aspects of the Debtors' Chapter 11 Cases and any plan(s) or other means to effect the Debtors' liquidation that may be proposed in connection therewith and participation in the formulation of any such plan(s) or means of implementing the liquidation, as necessary; h. taking all necessary actions to protect and preserve the estates of the Debtors for the benefit of unsecured creditors, including the investigation of the acts, conduct, assets, liabilities and financial condition of the Debtors, the investigation of the prior operation of the Debtors' businesses and the investigation and prosecution of estate claims, causes of action and any other matters relevant to the Chapter 11 Cases; i. preparing on behalf of the Committee all necessary motions, applications, complaints, answers, orders, reports, papers and other pleadings and filings in connection with the Committee's duties in the Chapter 11 Cases; j. advising and representing the Committee in hearings and other judicial proceedings in connection with all necessary motions, applications, objections and other pleadings and otherwise protecting the interests of those represented by the Committee; and k. performing all other necessary legal services as may be required and authorized by the Committee that are in the best interests of unsecured creditors. The firm will be paid at these rates: Members $595 to $1,575 per hour Special Counsel $625 to $840 per hour Associates $380 to $675 per hour Paralegals $315 to $460 per hour Litigation Support Specialists $425 to $535 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following is provided in response Paragraph D.1. of the Revised UST Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Cole Schotz professionals working on this matter will bill at their standard hourly rates. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: Cole Schotz did not represent the Committee during the 12 months preceding the filing of the Chapter 11 Cases. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Cole Schotz expects to develop a prospective budget and staffing plan to reasonably comply with the U.S. Trustee's request for information and additional disclosures, as to which Cole Schotz reserves all rights. Justin Alberto, Esq., an attorney at Cole Schotz, 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: Justin R. Alberto, Esq. Cole Schotz, P.C. 500 Delaware Avenue, Suite 1410 Wilmington, Delaware 19801 Telephone: (302) 652-3131 Facsimile: (302) 652-3117 Email: jalberto@coleschotz.com About Liberated Brands Liberated is in the sport, outdoor, and lifestyle apparel industry. Liberated offers its customers access to products under high-quality brands such as Volcom, Billabong, Quiksilver, Spyder, RVCA, Roxy, and Honolua, in its 124 retail locations across the United States and through other channels. As an omnichannel apparel licensee with deep-rooted and unique expertise in trend forecasting and brand development, Liberated has attracted loyal customers in more than 100 countries. Liberated operates regional headquarters in North America, Europe, Japan, and Australia. On Feb. 2, 2025, Liberated Brands LLC and eight affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10168). The cases are pending before Honorable Judge J. Kate Stickles. Liberated has tapped Kirkland & Ellis, LLP and Klehr Harrison Branzburg LLP to facilitate the Chapter 11 restructuring process. AlixPartners LLC is the Debtors' financial advisor. Stretto is the claims agent. JP Morgan has retained Morgan, Lewis & Bockius LLP and Berkeley Research Group, LLC. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. LIBERATED BRANDS: Committee Taps FTI Consulting as Advisor ---------------------------------------------------------- The official committee of unsecured creditors of Liberated Brands, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the District of Delaware to employ FTI Consulting, Inc. as its financial advisors. The firm's services include: a. assistance in the review of financial related disclosures required by the Court, including the Schedules of Assets and Liabilities, the Statement of Financial Affairs and Monthly Operating Reports; b. assistance in the preparation of analyses required to assess any proposed Debtor-In-Possession ("DIP") financing or use of cash collateral; c. assistance with the assessment and monitoring of the Debtors' short term cash flow, liquidity, and operating results; d. assistance with the review of the Debtors' proposed employee compensation and benefits programs; e. assistance with the review of the Debtors' potential disposition or liquidation of both core and non-core assets; f. assistance with the review of the Debtors' cost/benefit analysis with respect to the affirmation or rejection of various executory contracts and leases; g. assistance with the review of the Debtors' identification of potential cost savings, including overhead and operating expense reductions and efficiency improvements; h. assistance in the review and monitoring of the asset sale process, including, but not limited to an assessment of the adequacy of the marketing process, completeness of any buyer lists, review and quantifications of any bids; i. assistance with review of any tax issues associated with, but not limited to, claims/stock trading, preservation of net operating losses, refunds due to the Debtors, plans of reorganization, and asset sales; j. assistance in the review of the claims reconciliation and estimation process; k. assistance in the review of other financial information prepared by the Debtors, including, but not limited to, cash flow projections and budgets, business plans, cash receipts and disbursement analysis, asset and liability analysis, and the economic analysis of proposed transactions for which Court approval is sought; l. attendance at meetings and assistance in discussions with the Debtors, potential investors, banks, other secured lenders, the Committee and any other official committees organized in these chapter 11 proceedings, the U.S. Trustee, other parties in interest and professionals hired by the same, as requested; m. assistance in the review and/or preparation of information and analysis necessary for the confirmation of a plan and related disclosure statement in these chapter 11 proceedings; n. assistance in the evaluation and analysis of avoidance actions, including fraudulent conveyances and preferential transfers; o. assistance in the prosecution of Committee responses/objections to the Debtors' motions, including attendance at depositions and provision of expert reports/testimony on case issues as required by the Committee; and p. provision of such other general business consulting or such other assistance as the Committee or its counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding. The customary hourly rates charged by FTI are: Senior Managing Directors $1,185 to 1,525 Directors / Senior Directors / Managing Directors $890 to 1,155 Consultants/Senior Consultants $485 to 820 Administrative / Paraprofessionals $355 to 385 Liz Hu, a senior managing director with FTI Consulting, 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: Liz Hu FTI Consulting, Inc. 1166 Avenue of the Americas, 15th Floor New York, NY 10036 Tel: (212) 247-1010 Email: liz.hu@fticonsulting.com About Liberated Brands Liberated is in the sport, outdoor, and lifestyle apparel industry. Liberated offers its customers access to products under high-quality brands such as Volcom, Billabong, Quiksilver, Spyder, RVCA, Roxy, and Honolua, in its 124 retail locations across the United States and through other channels. As an omnichannel apparel licensee with deep-rooted and unique expertise in trend forecasting and brand development, Liberated has attracted loyal customers in more than 100 countries. Liberated operates regional headquarters in North America, Europe, Japan, and Australia. On Feb. 2, 2025, Liberated Brands LLC and eight affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10168). The cases are pending before Honorable Judge J. Kate Stickles. Liberated has tapped Kirkland & Ellis, LLP and Klehr Harrison Branzburg LLP to facilitate the Chapter 11 restructuring process. AlixPartners LLC is the Debtors' financial advisor. Stretto is the claims agent. JP Morgan has retained Morgan, Lewis & Bockius LLP and Berkeley Research Group, LLC. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. LOOK CINEMAS: Seeks to Extend Plan Exclusivity to June 12 --------------------------------------------------------- LOOK Cinemas II, LLC, asked the U.S. Bankruptcy Court for the Northern District of Texas to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 12 and August 11, 2025, respectively. Here, the following factors warrant the requested extension of exclusivity: * The Debtor has not been able to meaningfully prepare a proposed plan of reorganization because their focus has been on addressing critical real property lease issues and resolving other business-related matters. Debtor's management will have more time to focus on preparing a plan once availability of lease assumption, based on the terms set by the Court, are decided. * The Debtor desires to negotiate the terms of a consensual plan with key constituencies, including without limitation TNTF, LLC, who is the administrative agent for all of Debtor's secured lenders. * The Debtor is committed to proposing a chapter 11 plan during the extended period of exclusivity and reasonably expect to be able to do so. * The Debtor is not seeking an extension to pressure creditors or to obtain any strategic advantage. * No creditor will be prejudiced by the requested extensions, in that exclusivity is not being used to prevent any creditor from presently enforcing its rights. About LOOK Cinemas II LOOK Cinemas II, LLC operates in the motion picture and video industries. LOOK Cinemas II sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 24-33696) on November 14, 2024, with $1 million to $10 million in both assets and liabilities. Brian E. Schultz, chief executive officer of LOOK Cinemas II, signed the petition. Judge Michelle V. Larson handles the case. The Debtor is represented by: Frank Wright, Esq. Law Offices of Frank J. Wright, PLLC 1800 Valley View Lane 250 Farmers Branch TX 75234 Tel: 214-238-4153 Email: frank@fjwright.law LUCAS CONSTRUCTION: Seeks to Hire H3 Consulting Group as CRO ------------------------------------------------------------ Lucas Construction Group, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ H3 Consulting Group, Inc. as chief restructuring officer and financial advisor. The firm will provide financial advise to the Debtor, assist the Debtor in performing Debtor-in-Possession duties, including preparing monthly reports and projections, plan projections, cash flow oversight, process improvement and debt management. Fees will be billed on time spent at the hourly rate of $375. As disclosed in the court filings, H3 Consulting Group is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Richard Hauer H3 Consulting Group, LLC 22E Chicopee Drive Princeton, NJ 08540 About Lucas Construction Group Lucas Construction Group Inc. is a construction company based in Morganville, New Jersey, specializing in heavy highway and road construction as well as site redevelopment projects for both public and private sectors. With over 15 years of experience, the Company has worked with various federal, state, and local agencies, handling complex construction tasks. Lucas Construction Group Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-12404) on March 7, 2025. In its petition, the Debtor reports total assets of $5,181,262 and total liabilities of $16,950,049. Andrew J. Kelly, Esq., at The Kelly Firm, PC serves as the Debtor's counsel. LUCKY BUCKS: LRFC Marks $2.5M Subordinated Debt at 81% Off ---------------------------------------------------------- Logan Ridge Finance Corp. has marked its $2,503,000 loan extended to Lucky Bucks LLC to market at $485,000 or 19% of the outstanding amount, according to LRFC's Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission. LRFC is a participant in a Subordinated Debt to Lucky Bucks LLC. The debt accrues interest at a rate of 0% per annum. The debt matures on May 29, 2028. LRFC is an externally managed non-diversified closed-end management investment company incorporated in Maryland that has elected to be regulated as a business development company under the Investment Company Act of 1940. It is managed by Mount Logan Management LLC, an investment adviser that is registered as an investment adviser under the Investment Advisers Act of 1940, and BC Partners Management LLC, which provides the administrative services necessary for it to operate. LRFC may invest in first lien loans, which have a first priority security interest in all or some of the borrower's assets. In addition, its first lien loans may include positions in "stretch" senior secured loans, also referred to as "unitranche" loans, which combine characteristics of traditional first lien senior secured loans and second lien loans, providing it with greater influence and security in the primary collateral of a borrower and potentially mitigating loss of principal should a borrower default. LRFC may also invest in second lien loans, which have a second priority security interest in all or substantially all of the borrower's assets. In addition to debt securities, it may acquire equity or detachable equity-related interests (including warrants) from a borrower. It also intends to target investments that mature in four to six years from its investment. The Fund is led by Ted Goldthorpe as chief executive officer and president; Brandon Satoren as chief financial officer, and Alexander Duka as director. The company can be reached through: Logan Ridge Finance Corp. 650 Madison Avenue, 3rd Floor New York, New York 10022 Telephone: (212) 891-2880 About Lucky Bucks LLC Lucky Bucks, LLC -- https://luckybucksga.com/ -- is a digital skill-based COAM operator based in and incorporated under the laws of the State of Georgia in the U.S. Its team has a combined 45 years of experience in the Georgia COAM industry. MAINE CRAFT: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Maine granted Maine Craft Distilling, LLC authorization to use cash collateral on an interim basis. The interim order authorized the company to use cash collateral to pay the expenses set forth in its budget, with a 125% variance allowed. Androscoggin Bank, Coastal Enterprises, Inc. and the U.S. Small Business Administration may assert an interest in the cash collateral. As protection, these pre-bankruptcy lienholders were granted liens on all assets of the company except proceeds from avoidance actions, with the same priority as their pre-bankruptcy liens. A final hearing is scheduled for April 17. Objections are due by April 15. About Maine Craft Distilling Maine Craft Distilling, LLC produces and sells artisanal spirits like Blueshine Blueberry Liquor, Ration Expedition Style Rum, Sprigge Barrel Rested Gin, Black Cap Vodka, Whipple Tree Apple Brandy, and Alchemy Dry Gin. The company offers its products online and at its physical public house location, where it also hosts public events featuring live music. Maine Craft Distilling sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Me. Case No. 25-20062) on March 21, 2025. In its petition, the Debtor reported total assets of $593,878 and total liabilities of $1,281,429 as of March 17, 2025. The Debtor is represented by: D. Sam Anderson, Esq. Bernstein Shur Sawyer & Nelson Tel: 207-774-1200 Email: sanderson@bernsteinshur.com MANA GROUP: April 11 Deadline Set for Panel Questionnaires ---------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of Mana Group Pharmacies, LLC. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/3d2dwb8b and return by email it to Meredyth Kippes, Esq. -- Meredyth.Kippes@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Friday, April 11, 2025 at 4:00 p.m. Central Time. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Mana Group Pharmacies LLC Mana Group Pharmacies LLC, operating as Brown's Pharmacy, is an independent, locally owned pharmacy in Irving, Texas, serving the Irving, Las Colinas, and Greater Dallas-Fort Worth areas since 1973. The pharmacy focuses on providing personalized, friendly customer service, distinguishing itself from larger chain pharmacies. Services include prescription refills, compounding, delivery, vaccines, wound care, MEDSYNC (medication synchronization), and PakMyMeds (a free medication packaging service). Additionally, the pharmacy acts as an Amazon Hub, securely accepting and storing Amazon packages for customers. Mana Group Pharmacies LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-31057) on March 27, 2025. In its petition, the Debtor reported total assets of $332,938 and total liabilities of $4,952,261. The petition was signed by Christopher Tapper as managing member. The Debtor is represented by David R. Langston, Esq. at Mullin Hoard & Brown LLP. MARTIN SELIG: Office Properties Place Into Receivership ------------------------------------------------------- Dana Bartholomew of Real Deal reports that Martin Selig Real Estate has had seven older office properties shunted into receivership as it bleeds workers while struggling to pay off hundreds of millions in debt. The locally based investor laid off 86 workers and its special servicer, CW Capital, appointed the receiver for the buildings backed by $239 million in commercial mortgage-backed securities, the Puget Sound Business Journal reported. The unidentified receiver then chose Kidder Mathews to manage the affected buildings, which include 635 Elliott Avenue West, where Amazon.com leases offices. Martin Selig Real Estate, the 67-year-old commercial development firm led by Martin Selig, is on the ropes. The largest independent developer in the Pacific Northwest owns 31 office buildings, containing 4.9 million square feet. Last spring, the firm defaulted on the $239 million in CMBS loans tied to the seven buildings with 1.1 million square feet of offices. The landlord has been working with CW Capital, the special servicer, to modify and extend the loan. The affected properties are Class A and B buildings between 16 and 55 years old and spread across downtown. Last spring, the seven buildings were 69 percent occupied, down from 92 percent in 2017, according to a special servicer’s report. The properties include 635 Elliott and 645 Elliott, both on the waterfront, in Elliott Park. They also include Fifth & Jackson, across the street from King Street Station; Fourth & Blanchard in the Denny Regrade; and three in Lower Queen Anne, including 200 West Thomas and both towers of the West Harrison campus, according to the Business Journal. Selig needs a capital injection to fund leasing commissions and tenant improvements. But to attract that money, CW Capital would have to write off some of the debt — no easy task with higher interest rates and declining property values, according to the Business Journal. Another $379 million in securities backed by nine older Seattle office buildings comes due this month. In December, Martin Selig defaulted on a $240 million loan on two newer office buildings, with the firm indicating it may hand the keys to its lender, Acore Capital. The combined debt adds up to $858 million, secured by office properties hammered by a pandemic shift to remote work, suppressing demand and driving values to historic lows. To raise cash, Martin Selig listed two development sites for an undisclosed price at 400 Fourth Avenue W and 401-419 Queen Anne Avenue N, in Lower Queen Anne. More recently, the company agreed to turn over to a receiver seven Seattle parking lots, which it borrowed $50 million against from Goldman Sachs Bank, according to the Business Journal. About Martin Selig Real Estate Martin Selig provides real estate services. The Company builds, plans, and develops commercial, retail, and residential properties. Martin Selig serves clients in the United States. MASS POWER: 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 Mass Power Solutions, LLC. Mr. LaMontagne will be paid an hourly fee of $450 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 Mass Power Solutions Mass Power Solutions, LLC is an electrical contracting company specializing in renewable energy solutions, including solar project design, installation, and management, serving both residential and commercial clients. Mass Power Solutions filed Chapter 11 petition (Bankr. D. Mass. Case No. 25-40234) on March 5, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Ryan Lane, manager, signed the petition. Judge Elizabeth D. Katz oversees the case. John O. Desmond, Esq., represents the Debtor as legal counsel. MEIR BERNSTEIN: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Meir Bernstein LLC 580 Crown St. Unit 3 Brooklyn, NY 11213 Business Description: The Debtor is involved in activities related to real estate. Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-41641 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Solomon Rosengarten, Esq. SOLOMON ROSENGARTEN 2329 Nostrand Avenue Brooklyn NY 11210 Tel: 718-267-4460 E-mail: vokma@aol.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Samuel Pfeiffer a/k/a Shabsi Pfeiffer as member. The Debtor did not submit the required list of its 20 largest unsecured creditors when filing the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/B5M2BAI/MEIR_BERNSTEIN_LLC__nyebke-25-41641__0001.0.pdf?mcid=tGE4TAMA MID-COLORADO INVESTMENT: Seeks Subchapter V Bankruptcy in Colorado ------------------------------------------------------------------ On March 31, 2025, Mid-Colorado Investment Company Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filing, the Debtor reports up to $50,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Mid-Colorado Investment Company Inc. Mid-Colorado Investment Company Inc. is a Colorado-based company operating in the water, sewage, and other systems industry (NAICS 2213). Mid-Colorado Investment Company Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-11742) on March 31, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities up to $50,000. The Debtor is represented by Daniel J. Garfield, Esq. at Fairfield And Woods, P.C. MIDWEST MOBILE: Court OKs Medical Imaging Sale to Contract X-Ray ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Missouri at Springfield has granted Midwest Mobile Imaging LLC to sell substantially all of its Assets, free and clear of liens and other encumbrances. The assets of the Debtor's bankruptcy estate consist primarily of medical imaging equipment, vehicles, and other assets. The Court authorized the Debtor to sell the Assets to Contract X-Ray Services for the purchase price of $350,000, which represents a fair and reasonable offer to purchase the Property. The Court determined that all holders of liens on the Property have consented to, or are deemed to have consented to, the sale of the Property free and clear of such Liens, and could be compelled in a legal or equitable proceeding to accept a money satisfaction of their respective Liens. The Debtor should receive any account receivables that is for services performed prior to Closing and billed within 45 days of the Closing. Contract X-Ray Services, Inc. is also entitled to retain any accounts receivables billed more than 45 days after Closing for services rendered by the Debtor. About Midwest Mobile Imaging LLC Midwest Mobile Imaging, LLC is a full-service mobile diagnostic x-ray services provider in Springfield, Mo. Midwest Mobile Imaging sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 25-60002) on January 3, 2025, with up to $500,000 in assets and up to $10 million in liabilities. Dan Taylor, a member of Midwest Mobile Imaging, signed the petition. Judge Brian T. Fenimore oversees the case. The Debtor is represented by Colin N. Gotham, Esq., at Evans & Mullinix, P.A. MILAN BABY: Seeks to Hire LaMonica Herbst as General Counsel ------------------------------------------------------------ Milan Baby, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ LaMonica Herbst & Maniscalco, LLP as its general counsel. The firm's services include: a. providing legal advice with respect to the Debtors' powers and duties as debtors-in-possession in accordance with the provisions of the Bankruptcy Code; b. preparing, on behalf of the Debtors, all necessary schedules, applications, motions, answers, orders, reports, adversary proceedings and other legal documents required by the Bankruptcy Code and Federal Rules of Bankruptcy Procedure; c. assisting the Debtors in the development and implementation of a plan of reorganization; and d. performing all other legal services for the Debtors that may be necessary in connection with the Chapter 11 cases and the Debtors' attempts to reorganize their affairs under the Bankruptcy Code. The firm will be paid at these rates: Partners $725 per hour Associates $475 per hour Paraprofessionals $225 per hour The firm received from the Debtor a retainer of $12,500, plus $1,738 is the filing fee. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Joseph S. Maniscalco, Esq., a partner at LaMonica Herbst & Maniscalco, 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: Joseph S. Maniscalco, Esq., LAMONICA HERBST & MANISCALCO, LLP 3305 Jerusalem Avenue, Suite 201 Wantagh, NY 11793 Telephone: (516) 826-6500 Email: jsm@lhmlawfirm.com About Milan Baby, Inc. Milan Baby, Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-70605) on February 14, 2025. Judge Alan S Trust presides over the case. Joseph S Maniscalco, Esq. at Lamonica Herbst Maniscalco represents the Debtor as counsel. MILLENKAMP CATTLE: Court Extends Cash Collateral Access to June 30 ------------------------------------------------------------------ Millenkamp Cattle, Inc. and its affiliates received another extension from the U.S. Bankruptcy Court for the District of Idaho to use cash collateral. The order signed by Judge Noah Hillen authorized the companies to use the cash collateral of its lenders until June 30 to pay the expenses set forth in their budget. As protection, pre-bankruptcy secured lenders including Rabo AgriFinance LLC, Metropolitan Life Insurance Company, MetLife Real Estate Lending LLC, and Conterra Holdings LLC will be granted replacement liens on all post-petition cash collateral to the same validity, extent and priority as their pre-bankruptcy liens. The replacement liens "shall not attach to any proceeds of any avoidance actions," according to the court order. Meanwhile, Millenkamp's debtor-in-possession lender, Sandton Capital Solutions Master Fund VI LP, will be granted "adequate protection" liens on all post-petition cash collateral in accordance with the court's final order on post-petition financing. Rabo AgriFinance is represented by: Sheila R. Schwager, Esq. Hawley Troxell Ennis & Hawley, LLP 877 W. Main Street, Suite 200 P.O. Box 1617 Boise, ID 83701-1617 Phone: 208.344.6000 Fax: 208.954.5261 sschwager@hawleytroxell.com Metropolitan Life Insurance Company is represented by: Kimbell D. Gourley, Esq. Jones, Williams, Fuhrman & Gourley, P.A. 225 N. 9th Street, Suite 820 Boise, ID 83701 Phone: (208)331-1170 kgourley@idalaw.com Conterra Holdings is represented by: Scott C. Powers, Esq. Spencer Fane, LLP 10 Exchange Place, 11th Floor Salt Lake City, UT 84111 Phone: 801-322-9164 spowers@spencerfane.com About Millenkamp Cattle Millenkamp Cattle Inc. is a family-owned agriculture business in Jerome, Idaho. Millenkamp Cattle sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 24-40158) on April 2, 2024, with $10 million to $50 million in assets and $500 million to $1 billion in liabilities. William J. Millenkamp, manager, signed the petition. Judge Noah G. Hillen oversees the case. The Debtor is represented by Matthew T. Christensen, Esq., at Johnson May, PLLC. MILWAUKEE FORGE: Enters Receivership, To Continue Operations ------------------------------------------------------------ Ethan Duran of The Daily Reporter reports that Milwaukee Forge, a longstanding business in the Bay View neighborhood, has filed for receivership, according to a filing with the Milwaukee County Circuit Court. Founded in 1913, the company filed for receivership under Wisconsin Chapter 128, with its lender, Manitowoc-based Bank First, agreeing to the process. Attorney Michael Polsky, a director at Beck, Chaet, Bamberger & Polsky S.C., has been appointed as the receiver by the court. Operations at Milwaukee Forge will continue as usual, with no plans for layoffs or order cancellations, stated CEO and owner David Mesick. The company currently employs 80 people, according to The Daily Reporter. "While recent years have been difficult for the manufacturing industry, we are committed to ensuring Milwaukee Forge's long-term success," said Mesick. "We are grateful for the support of our employees, customers, lenders, and vendors, and we remain dedicated to being a responsible corporate citizen and employer in Milwaukee." The company and Polsky's financial advisors have already started discussions with potential buyers. Any proposed sale will require court approval and the opportunity for competing bids, Polsky noted. Milwaukee Forge previously went through a receivership sale in 2010, with Polsky serving as the receiver in that instance as well, the report states. About Milwaukee Forge Milwaukee Forge provides forging and heat-treating services for the agriculture, off-highway, construction and mining industries. MIRACLE LEAF: Unsecureds Will Get 100% of Claims over 5 Years ------------------------------------------------------------- Miracle Leaf Corp. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated March 10, 2025. The Debtor operates two holistic health retail centers licensed in the State of Florida to sell hemp derived products for human and animal consumption as regulated by Division of Food Safety of the Florida Department of Agriculture and Consumer Services. The Debtor is wholly owned by Miracle Leaf Health Centers, Corp., a franchisor of similar stores in 4 states in over 50 locations. The Debtor had been unable to keep up its lease payments to its landlord for the Wynwood location, which was primarily caused by slowdown in sales from the subsequent lingering effects of the COVID-19 pandemic and later efforts to legalize marijuana in Florida. Prior to the filing for bankruptcy, the Debtor was involved in an eviction action and was at the brink of being evicted from the Wynwood location. By this Plan, the Debtor will be restructuring these obligations, such that the Debtor can remain viable as a going concern. This Plan provides for 1 class of priority claims, 1 class of general unsecured claims, and 1 class of equity security holders. General unsecured creditors holding allowed claims will receive distributions of 100 cents on the dollar, all of which will be guaranteed and/or paid by the Debtor's parent and one hundred percent owner, Miracle Leaf Health Centers, Corp. This Plan also provides for the payment of administrative and priority claims. Class 2 consists of General Unsecured Creditors. Class 2 consists of all allowed general unsecured claims. The Class 2 Creditors shall share pro rata in a total distribution in the amount of $288,284.57. Any Class 2 allowed general unsecured claimant scheduled to receive a total distribution of $500.00 or less shall be paid in a lump sum on the First Payment Date. The Debtor estimates that the lump sum payment(s) will total $0.00. Any Class 2 allowed general unsecured claimants scheduled to receive a total distribution of more than $500.00 shall receive payment over 5 years (60 months), in 60 monthly payments totaling $0.00 per payment, with the first payment due on the First Payment Date and continuing on the first day of every month thereafter until fully paid. Unsecured creditors will be receiving a distribution of 100% of their allowed claim(s), which is an amount in excess of what claimants would receive in a hypothetical Chapter 7 proceeding, in which case such claimants would receive 0.00%. Class 3 consists of all allowed equity interests in the Debtor. All Equity Security Holders of the Debtor will retain the same interest(s) in the Debtor as such interest(s) existed prior to the Petition Date, with Miracle Leaf Health Centers, Corp. retaining its 100% membership interest in the Debtor. The means necessary for the implementation of this Plan include the Debtor's cash flow from operations for a period of 5 years. The Debtor's financial projections show that the Debtor will have sufficient cash over the life of the Plan to make the required Plan payments and operate its business. The Debtor's financial projections show that the Debtor will have projected disposable income for a period of 5 years of $13,873.42. To the extent that the Debtor performs consistent with such financial projections, then such disposable income will be utilized by the Debtor in the form of cash reserves, in order to ensure that the Debtor will have sufficient cash over the life of the Plan to not only make the required Plan payments, but operate his personal and business affairs without any concern of illiquidity. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=NLnseT from PacerMonitor.com at no charge. Counsel to the Debtor: Carlos E. Sardi, Esq. SARDI LAW PLLC 11410 N. Kendall Dr., Suite 208 Miami, FL 33176 Tel: (305) 697-8690 Email: carlos@sardilaw.com About Miracle Leaf Corp Miracle Leaf Corp operates two holistic health retail centers licensed in the State of Florida. The Debtor sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-22842) on Dec 9, 2024, listing up to $50,000 in both assets and liabilities. Judge Robert A Mark presides over the case. Carlos E. Sardi, Esq. at Sardi Law, PLLC, is the Debtor's counsel. MLN US: Hires Ernst & Young LLP as Tax Services Provider -------------------------------------------------------- MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Ernst & Young LLP as tax services provider. The firm's services include: a. Tax Advisory Services -- Project Rise. These services relate to EY Canada's tax advisory services in connection with these chapter 11 cases, including but not limited to: i. assisting the Debtors in developing an understanding of the tax issues and options related to the chapter 11 cases; ii. advising on the U.S. and foreign income tax consequences of proposed plans of reorganization, including assisting in the preparation of IRS/CRA/HRMC ruling requests regarding the tax consequences of alternative reorganization structures and tax opinions, as necessary; iii. gathering information, preparing calculations, and applying the appropriate tax laws to historic information regarding changes in the ownership of the Debtors' stock to determine whether any shifts in stockownership affect the use of tax attributes (such as net operating loss, capital loss, credit carry forward, and built in losses) and the amount of any such limitation; iv. preparing calculations and applying the appropriate U.S. and foreign laws to determine the amount of tax attribute reduction related to debt cancellation income and modeling of tax consequences of such reduction; v. updating the draft tax basis balance sheets and draft computations of stock basis as of certain relevant dates for purposes of analyzing the tax consequences of alternative reorganization structures; vi. analyzing U.S. and foreign tax laws to determine the tax consequences of the restructuring upon the Debtors and their affiliates, including with respect to tax return disclosure and presentation, rationalization of intercompany accounts, and employee benefit plans; vii. advising and/or assisting, as requested and as permissible, with determining the validity and amount of bankruptcy tax claims or assessments, including but not limited to the following types of taxes: income taxes, franchise taxes, sales taxes, use taxes, employment taxes, property taxes, severance taxes, excise taxes, credit and incentive agreements, other miscellaneous taxes or regulatory assessments and fees, and unclaimed property; viii. advising on potential alternatives and elections relative to the CARES Act and the Tax Cuts and Jobs Act; ix. assisting and advising on the potential for seeking cash tax refunds; and x. providing documentation, as appropriate or necessary, of tax matters, tax analysis, opinions, recommendations, conclusions, and correspondence of any proposed restructuring alternatives, bankruptcy tax issue, or other tax matters. b. Unify Legal Entity Rationalization ("Unify LER"). EY Canada will provide tax advisory services to the Debtors in connection with certain structuring considerations following the Unify Acquisition. c. Pillar Two Return On Call Services ("ROCS"). EY Canada will provide tax advisory services to the Debtors in connection with Pillar Two tax questions and routine assignments. d. Annual Tax Provision Review Assistance. EY Canada will provide annual tax provision review in accordance with United States Generally Accepted Accounting Principles for the 2024 fiscal year. e. Global Compliance and Reporting Services. EY Canada will provide tax compliance, monitoring, and reporting services to the Debtors for the 2024 fiscal year, including periodic filings through September 30, 2025. The firm will be paid as follows: a. Project Rise. Canada Tax Professionals Hourly Rate (CDN) Partner/Principal $1,000 Managing Director / Associate Partner $900 Senior Manager $750 Manager $600 Senior $425 Staff $300 US Tax Professionals Hourly Rate (USD) Partner/Principal $1,550 Managing Director / Associate Partner $1,400 Senior Manager $1,100 Manager $950 Senior $700 Staff $500 UK Tax Professionals Hourly Rate (GBP) Partner/Principal GBP1,500 Managing Director / Associate Partner GBP1,200 Senior Manager GBP1,050 Manager GBP750 Senior GBP570 Staff GBP300 b. Unify LER. Canada Tax Professionals Hourly Rate (CDN) Partner/Principal $1,000 Managing Director / Associate Partner $900 Senior Manager $750 Manager $600 Senior $425 Staff $300 c. Pillar Two ROCS. Canada Tax Professionals Hourly Rate (CDN) Partner/Principal $1,000 Managing Director $900 Senior Manager $750 Manager $600 Senior $425 Staff $300 d. Annual Tax Provision Assistance. Tax Professional Hourly Rate (CDN) Partner/Principal $775 Managing Director / Associate Partner $675 Senior Manager $560 Manager $450 Senior $320 Darrell Bontes, a partner for Ernst & Young LLP, 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: Darrell Bontes Ernst & Young LLP 99 Bank Street, Suite 1200 Ottawa, ON K1P 6B9 Tel: (613) 598-4864 Email: darrell.bontes@ca.ey.com About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MLN US: Hires Paul Weiss Rifkind as Bankruptcy Counsel ------------------------------------------------------ MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Paul, Weiss, Rifkind, Wharton & Garrison LLP as attorneys. The firm's services include: (a) providing legal advice with respect to the Debtors' powers and duties as debtors in possession in the continued operation of their business and management of their properties; (b) attending meetings and negotiating with representatives of creditors and other parties in interest and advising and consulting on the conduct of these chapter 11 cases, including the legal and administrative requirements of operating in chapter 11; (c) taking necessary action to protect and preserve the Debtors' estates; (d) preparing and prosecuting on behalf of the Debtors all motions, applications, answers, orders, reports, and papers necessary to the administration of the estates; (e) advising and assisting the Debtors with financing and transactional matters as such may arise during the chapter 11 cases; (f) appearing in Court and protecting the interests of the Debtors before the Court; and (g) performing all other legal services for the Debtors that may be necessary and proper in these chapter 11 cases. The current standard hourly rates for Paul, Weiss's attorneys and paralegals range from $2,245 to $2,595 for partners, $1,995 for counsel, $705 to $1,695 for associates and staff attorneys, and $175 to $560 for paraprofessionals. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the Fee Guidelines. Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments or discounts offered during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Paul, Weiss typically adjusts its billing rates on an annual basis effective October 1st of each year. Accordingly, Paul, Weiss's rates for timekeepers for its prepetition engagement on this matter were (a) for the period of October 1, 2023, to September 30, 2024, $1,995 to $2,395 for partners, $1,815 for counsel, $645 to $1,560 for associates and staff attorneys, and $160 to $515 for paraprofessionals; and (b) for the period of October 1, 2024, to the Petition Date, $2,245 to $2,595 for partners, $1,995 for counsel, $705 to $1,695 for associates, and $175 to $560 for paraprofessionals. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: Yes, from the Petition Date through to May 31, 2025 John Weber, Esq., a partner at Paul, Weiss, Rifkind, Wharton & Garrison, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: John T. Weber, Esq. Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, NY 10019 Tel: (212) 373-3000 Fax: (212) 757-3990 Email: jweber@paulweiss.com About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MLN US: Seeks Approval to Tap Ordinary Course Professionals ----------------------------------------------------------- MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to non-bankruptcy professionals in the ordinary course of business. The Debtors need ordinary course professionals to perform services for matters unrelated to these Chapter 11 cases. The Debtors seek to pay OCPs 100 percent of the fees and expenses incurred. The Debtors do not believe that any of the ordinary course professionals have an interest materially adverse to them, their estates, creditors, or other parties in interest in connection with the matter upon which they are to be engaged. The OCPs include: Ogletree Deakins International LLP Tier 1 Legal OCP Cap: $50,000 KL Discovery Tier 1 Legal OCP Cap: $50,000 Osler Hosking and Harcourt LLP Tier 1 Legal OCP Cap: $50,000 Trilegal Tier 1 Legal OCP Cap: $50,000 Marashlian and Donahue PLLC Tier 1 Legal OCP Cap: $50,000 CT Corporation System Tier 1 Legal OCP Cap: $50,000 White & Case LLP Tier 1 Legal OCP Cap: $50,000 Loyens and Loeff Switzerland BV Tier 1 Legal OCP Cap: $50,000 Wachtell, Lipton, Rosen & Katz LLP Tier 1 Legal OCP Cap: $50,000 Perry Currier Inc. Tier 1 Legal OCP Cap: $50,000 Growling WLG Tier 1 Legal OCP Cap: $50,000 TMF Group BV Tier 1 Legal OCP Cap: $50,000 Walkers Corporate Limited Tier 1 Legal OCP Cap: $50,000 Venner Shipley LLP Tier 1 Legal OCP Cap: $50,000 Schaafhausen Patentawalte Partgmbb Tier 2 Legal OCP Cap: $150,000 Snell & Wilmer LLP Tier 2 Legal OCP Cap: $150,000 Accordion Partners Global Corp. Tier 2 Accounting OCP Cap: $150,000 Haynes and Boone LLP Tier 2 Legal OCP Cap: $150,000 Taylor Wessing LLP Tier 2 Legal OCP Cap: $150,000 Deloitte LLP Tier 2 Accounting OCP Cap: $150,000 Goodmans LLP Tier 3 Legal OCP Cap: $250,000 About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MLN US: Seeks to Hire FTI Consulting as Financial Advisor --------------------------------------------------------- MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ FTI Consulting, Inc. as financial advisor. The firm's services include: -- assistance with the preparation of cash and liquidity forecasts, including a rolling 13-week cash flow forecast, cash receipts and disbursement analyses, and budget vs. actual reporting; -- assistance with business plan projections and scenarios as needed to support management and the Debtors' investment banker with developing strategic and operational alternatives, and negotiations with lenders and/or new investors; -- assistance with sizing/budgeting for contingency reserves, and developing strategies to conserve cash, preserve optionality, and extend liquidity runway; -- assistance with contingency planning, including preparation of associated required financial and operating information, assistance with operational readiness, and due diligence support for any new financing in connection with such contingency plans; -- assistance with the development of management and employee retention plans that may be required to maintain key individuals and continuity through a transaction; -- assistance with the development of creditor, customer, and employee communications plans; -- analysis of the accounts receivable, accounts payable, cash, and other select working capital accounts of certain reporting entities of the Debtors as of December 31, 2024, consistent with that of a field audit; -- provision of such other advisory services as may be agreed upon by FTI, Paul, Weiss, Rifkind, Wharton & Garrison LLP as proposed counsel to the Debtors, and the Debtors; -- assistance with the preparation of financial and related disclosures required by the Court, including Monthly Operating Reports; -- assistance with the identification and implementation of short-term cash management procedures; -- assistance and advice with respect to the identification of core business assets and the disposition of assets or liquidation of unprofitable operations; -- assistance with the identification of executory contracts and leases and performance of cost/benefit evaluations with respect to the assumption or rejection of each; -- assistance in the preparation of financial information for distribution to creditors and others, including, but not limited to, cash flow projections and budgets, cash receipts and disbursement analysis, analysis of various asset and liability accounts, and analysis of proposed transactions for which Court approval is sought; -- attendance at meetings and assistance in discussions with potential investors, banks, secured lenders, any official committee(s) appointed in these chapter 11 cases, the U.S. Trustee, other parties in interest and professionals hired by the same, as requested; -- analysis of creditor claims by type, entity, and individual claim, including assistance with development of databases, as necessary, to track such claims; -- assistance in the preparation of information and analysis necessary for the confirmation of a plan in these chapter 11 proceedings; and -- provision of such other general business consulting or such other assistance as Debtors' management or counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding. The firm will be paid at these hourly rates: Senior Managing Directors $1,185 to $1,525 Directors / Senior Directors / Managing Directors $890 to $1,155 Consultants / Senior Consultants $485 to $820 Administrative / Paraprofessionals $190 to $385 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Heath Gray, a senior managing director at FTI Consulting, Inc., 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: Heath C. Gray FTI CONSULTING INC. 1166 Avenue of the Americas, 15th Floor New York, NY 10036 Tel: (646) 717 3123 Fax: (212) 841-9350 Email: heath.gray@fticonsulting.com About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MLN US: Seeks to Hire PJT Partners LP as Investment Banker ---------------------------------------------------------- MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ PJT Partners LP as investment banker. The firm will render these services: a. assist in the evaluation of the Debtors' businesses and prospects; b. assist in the development of financial data and presentations to the Restructuring Committee, various creditors, and other third parties; c. analyze the Debtors' financial liquidity and evaluate alternatives to improve such liquidity; d. analyze various restructuring scenarios and the potential impact of these scenarios on the recoveries of those stakeholders impacted by the Restructuring; e. provide strategic advice regarding the restructuring or refinancing of the Debtors' Obligations; f. evaluate the Debtors' debt capacity and alternative capital structures; g. participate in negotiations among the Debtors and their creditors, suppliers, lessors, other interested parties and/or potential financing parties; h. value securities offered by the Debtors in connection with a Restructuring; i. advise the Debtors and negotiate with lenders with respect to potential waivers or amendments of various Obligations; j. assist in the development of the Debtors' long-term business plan and related financial projections; k. assist in arranging financing for the Debtors, as requested; l. provide expert witness testimony concerning any of the subjects encompassed by the other investment banking services; and m. provide such other advisory services as are customarily provided in connection with the analysis and negotiation of a transaction similar to a potential Restructuring and/or Capital Raise, as requested and mutually agreed. The firm will receive compensation as follows: a. Monthly Fee. The Debtors shall pay PJT a monthly advisory fee (the "Monthly Fee") in the amount of $200,000 per month. Fifty percent (50 percent) of all Monthly Fees paid to PJT in respect of Monthly Fees earned from and after March 1, 2025 through August 31, 2025 shall be credited, only once and without duplication, against any Restructuring Fee payable under the Engagement Letter. For the avoidance of doubt, the maximum total amount of crediting of Monthly Fees against the Restructuring Fee shall be $600,000; b. Capital Raising Fee. The Debtors shall pay a capital raising fee (the "Capital Raising Fee") for any Capital Raise, earned and payable upon the earlier of the receipt of a binding commitment letter and the closing of such Capital Raise. The Capital Raising Fee will be calculated as: -- 1.5 percent of the total issuance and/or committed amount of senior debt financing, excluding senior debt financing that is or may (or is anticipated in the future to) constitute a Structured Financing; -- 2.5 percent of the total issuance and/or committed amount of (A) Structured Financing, (B) junior debt financing, or (C) unsecured debt financing (including, without limitation, financing that is junior in right of payment, second lien, subordinated (structurally or otherwise) and unsecured debt); -- 5.0 percent of the total issuance and/or committed amount of equity financing; in each case, including by means of a back-stop commitment; provided that, (1) in the event that the Company enters into a DIP Financing facility ("DIP Facility") that provides for the conversion thereof, in whole or in part, into equity, PJT shall be paid (A) a Capital Raising Fee in accordance with the above (the "DIP Fee") upon closing of such DIP Facility, plus (B) to the extent greater than zero, the result of (I) the Equity Capital Raising Rate multiplied by the aggregate amount of the new money portion of such DIP Facility that is converted into equity less (II) the DIP Fee previously paid to PJT in respect of the new money portion of such DIP Facility that is converted into equity, with the amount set forth in this clause (B) payable upon such conversion; (2) the minimum Capital Raising Fee payable in respect of any DIP Facility shall be $1,900,000; and (3) in the event that any financing (or any portion thereof) is provided by existing lenders of the Company as of the Effective Date or any of their respective affiliates (collectively, the "Existing Lenders"), 50 percent of the Capital Raising Fee to which PJT Partners would have otherwise been entitled with respect to the portion of such financing provided by the Existing Lenders shall be credited against any Restructuring Fee payable hereunder. Notwithstanding anything to the contrary in the Engagement Letter, no Capital Raising Fee or DIP Fee shall be earned or payable under the Engagement Letter on account of any existing funded indebtedness that is rolled-up into a DIP Facility nor on account of any portion of existing indebtedness that is converted into "take-back" exit financing in connection with an in-court Restructuring. c. Restructuring Fee. The Debtors shall pay a fee in respect of a Restructuring (the "Restructuring Fee") equal to $9,800,000, earned and payable upon the consummation of a chapter 11 plan or any other Restructuring pursuant to an order of the Court or other applicable court; d. Expense Reimbursements. In addition to the fees described above, the Debtors agree to the reimbursement of all reasonable and documented out-of-pocket expenses incurred in connection with PJT's services under the Engagement Letter, including, but not limited to, travel and lodging, direct identifiable data processing, document production, publishing services and communication charges, courier services, working meals, reasonable and documented out-of-pocket fees and expenses of PJT outside counsel (without the requirement that the retention of such counsel be approved by the court in any bankruptcy case) and other reasonable and necessary expenditures, payable upon rendition of invoices setting forth in reasonable detail the nature and amount of such expenses; subject to any applicable orders of the Court. Further, in connection with the reimbursement, contribution and indemnification provisions set forth in the Engagement Letter and the Expense, Indemnity and Limitation of Liability Agreement attached as Attachment A to the Engagement Letter (the "Indemnity Agreement"), the Debtors agree to reimburse each PJT Party, for its reasonable and documented legal and other out-of-pocket expenses (including the cost of any investigation and preparation) as they are incurred in connection with any matter in any way relating to or referred to in the Engagement Letter or arising out of the matters contemplated by the Engagement Letter, subject to certain exceptions, limitations, and requirements set forth in the Indemnity Agreement. Paul Sheaffer, a partner in the Restructuring and Special Situations Group at PJT Partners, 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: Paul Sheaffer PJT Partners LP 280 Park Avenue New York, NY 10017 Tel: (212) 364-7800 About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MLN US: Seeks to Hire Porter Hedges as Bankruptcy Counsel --------------------------------------------------------- MLN US HoldCo, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Porter Hedges LLP as co-counsel. The firm will render these services: a. provide legal advice and services regarding local rules, practices, and procedures; b. provide certain services in connection with administration of these chapter 11 cases, including, without limitation, preparing agendas, hearing notices, and hearing binders of documents and pleadings; c. prepare, review, and comment on proposed drafts of pleadings to be filed with the Court as bankruptcy co-counsel to the Debtors; d. provide legal advice with respect to the Debtors' rights and duties as debtors in possession and continued business operations; e. assist, advise, and represent the Debtors in analyzing the Debtors' capital structure, investigating the extent and validity of liens, cash collateral stipulations, or contested matters; f. assist, advise, and represent the Debtors in any cash collateral and/or post-petition financing transactions; g. assist, advise, and represent the Debtors in any manner relevant to preserving and protecting the Debtors' estates; h. prepare on behalf of the Debtors all necessary applications, motions, answers, orders, reports, and other legal papers; i. appear in Court and to protect the Debtors' interests before the Court; j. at the request of the Debtors, appear in Court and at any meeting with the Office of the United States Trustee for the Southern District of Texas and any meeting of creditors at any given time on behalf of the Debtors as their bankruptcy co-counsel; and k. provide other legal advice and services, as requested by the Debtors, from time to time. The current 2025 standard hourly rates range from $565 to $1,250 for partners, $450 to $1,195 for counsel, $450 to $875 for associates and staff attorneys, and $340 to $535 for paraprofessionals. On Dec. 10, 2024, Porter Hedges received an initial retainer in the amount of $200,000 for its prepetition and post-petition services rendered and expenses incurred on behalf of the Debtors. On Feb. 28, 2025, Porter Hedges received an additional retainer of $75,000. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the Fee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments or discounts offered during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Porter Hedges was retained in November 2024 and its standard rates for 2024 ranged from $520 to $1,100 for partners, $400 to $1,100 for counsel, $420 to $805 for associates and staff attorneys, and $310 to $470 for paraprofessionals. In the normal course of business, Porter Hedges revises its hourly rates annually. Effective as of Jan. 1, 2025, Porter Hedges revised its standard hourly rates to be the rates disclosed in paragraph 8, above. John F. Higgins, Esq., a partner at Porter Hedges, 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: John F. Higgins, Esq. Porter Hedges LLP 1000 Main St., 36th Floor Houston, TX 77002 Tel: (713) 226-6000 Fax: (713) 228-1331 About MLN US Holdco The Debtors and their non-debtor affiliates are a global provider of business telecommunication solutions, offering on-premise, cloud, and hybrid services to help organizations of all sizes connect and collaborate reliably. They have expanded their capabilities and offerings through strategic acquisitions and partnerships, enhancing its portfolio of software, hardware, and services. They serve a wide range of industries, delivering flexible solutions to meet the needs of diverse customers worldwide. MLN US Holdco, LLC and its affiliates filed their Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 25-90090) on March 9, 2025, listing up to $10 billion in both consolidated assets and liabilities. Janine Yetter, authorized signatory, signed the petitions. Judge Christopher M. Lopez oversees the case. The Debtors tapped Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Goodmans LLP as Canadian counsel; PJT Partners LP as investment banker and financial advisor; FTI Consulting, Inc. as restructuring advisor; and KPMG LLP as tax consultant. Stretto, Inc. is the Debtors' claims, noticing and solicitation agent. MODIVCARE INC: David Mounts Gonzales Reports 2.13M Common Shares ---------------------------------------------------------------- David Mounts Gonzales, director and 10% owner of ModivCare Inc. (MODV), disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of March 17, 2025, he beneficially owned 2,130,000 shares of common stock indirectly through AI Catalyst Fund, LP, where he serves as President and Sole Managing Member of its general partner, AI Catalyst Fund GP, LLC. About ModivCare ModivCare Inc. is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members. At December 31, 2024, ModivCare had 1,654,332,000 in total assets, 1,692,806,000 in total liabilities, and (38,474,000 in total stockholders' deficit. * * * S&P Global Ratings lowered its issuer credit rating on ModivCare Inc. to 'CCC+' from 'B-'. The outlook is negative. MONTFER PROPERTY: Walter Dahl Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 17 appointed Walter Dahl, Esq., a partner at Dahl Law, as Subchapter V trustee for Montfer Property Investments, LLC. Mr. Dahl will be compensated at $485 per hour for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. In court filings, Mr. Dahl declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Walter R. Dahl Dahl Law 2304 "N" Street Sacramento, CA 95816-5716 Telephone: (916) 446-8800 Telecopier: (916) 741-3346 Email: wdahl@dahllaw.net About Montfer Property Investments Established in 2018, Montfer Property Investments, LLC is a real estate investment company specializing in creating mutually beneficial solutions for homeowners and investors. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 25-90173) on March 10, 2025, with $1 million to $10 million in assets and liabilities. Jose Montejano, managing member, signed the petition. Judge Ronald H. Sargis presides over the case. David C. Johnston, Esq., represents the Debtor as legal counsel. MP OCTOPUS: Seeks to Extend Plan Filing Deadline to May 13 ---------------------------------------------------------- MP Octopus Pizza, LLC and its affiliates (the "Applicable Debtors") asked the U.S. Bankruptcy Court for the Middle District of Florida to extend their period to file a chapter 11 plan and disclosure statement to May 13 and the exclusivity period to July 14, 2025. On January 14, 2025, the Court entered its Order Continuing Initial Status Conference which, amongst other things, established March 14, 2025 (the "Plan Deadline"), as the deadline for the Applicable Debtors to file their plan of reorganization and disclosure statement. The Applicable Debtors explain that they are not presently prepared to file their plan(s) of reorganization and disclosure statement(s) for the following reasons: * The Applicable Debtors are currently in negotiations to sell anywhere from two to five underperforming stores. Upon conclusion of the sales, the Applicable Debtors will be able to allocate the funds currently being utilized to support these stores towards ensuring feasible, successful repayment plan. * The Applicable Debtors are currently negotiating proposed treatment with the various secured creditors in their respective cases. * The Applicable Debtors are not presently in a position to determine whether to file a single consolidated plan of reorganization, nineteen individual plans of reorganization, or some combination of consolidated and individual plans. Counsel to the Debtors: FORD & SEMACH, P.A., Buddy D. Ford, Esq. Jonathan A. Semach, Esq. 9301 West Hillsborough Avenue Tampa, Florida 33615-3008 Telephone #: (813) 877-4669 Facsimile #: (813) 877-5543 Email: Buddy@tampaesq.com Email: Jonathan@tampaesq.com About MP Octopus Pizza LLC MP Octopus Pizza LLC, doing business as Marco's Pizza, filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-06739) on November 15, 2024, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Terry Burkholder, manager of MP Octopus Pizza, signed the petition. Judge Catherine Peek McEwen oversees the case. The Debtor is represented by: Buddy D. Ford, Esq., at BUDDY D. FORD, P.A. MP OCTOPUS: To Sell MP Big Ben Pizza Biz to Sam Storter ------------------------------------------------------- MP Octopus Pizza LLC and its affiliates, along with MP Big Ben Pizza LLC (Applicable Debtor), seek permission from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell property, free and clear of liens, interests, and encumbrances. The Applicable Debtor is engaged in the ownership of a pizza franchise located at 1408 Dale Mabry Hwy., Lutz, Pinellas County, Florida 33548. The Applicable Debtor leases the space. The landlord is 1408 South LLC. The Applicable Debtor will assign all rights to the lease or alternatively the purchaser will enter into its own lease. The Applicable Debtor seeks to sell its equipment and goodwill located at the leased space. The Applicable Debtor and Sam Storter have reached an agreement to purchase the property. All of the equipment of MP Big Ben Pizza LLC are to be purchased by Sam Storter or his assigns for a purchase price of $170,000. a) 3 Point of Sale Systems b) 2 Middle B Marshall 360 WB LP c) Makeline Rendel 84111N d) Salad/Sub Station 1 Turbo Air MST-28-12 e) Reproofer 1 True T-23G f) Strecher 1 Somerset CDR-500 g) Mixer 1 Hobart H-600T h) Walk in Fridge 1 Kolpak AM6-87B-AE i) Freezer j) 3 compartment Sink 1 Unit k) Hand Sink(3) 3 Units l) Eyebrow Oven Hood, Fan & Curb m) 1 channel Custom Dough Tray Rack n) 1 8' Cut Table with Condiment rail The food inventory is also included in the purchase price. The Applicable Debtor had the equipment appraised by Premier Restaurant Supplies and the value of the equipment and personal property is $21,735. The purchase price offered by the purchaser is consistent with the appraised values of the Assets. The lienholders of the Property include Ascentium Capital (Corporation Service Company), Marco's Franchising LLC, Navitas Credit Corp., and Rewards Network (Corporation Service Company). The Applicable Debtor seeks to sell the Assets "as is" and "where is", free and clear of any potential liens. About MP Octopus Pizza LLC MP Octopus Pizza LLC, doing business as Marco's Pizza, filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-06739) on November 15, 2024, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Terry Burkholder, manager of MP Octopus Pizza, signed the petition. Judge Catherine Peek McEwen oversees the case. The Debtor is represented by: Buddy D. Ford, Esq., at BUDDY D. FORD, P.A. MT. PLEASANT REALTY: Seeks Chapter 11 Bankruptcy in Pennsylvania ---------------------------------------------------------------- On March 31, 2025, Mt. Pleasant Realty Co. LP filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Mt. Pleasant Realty Co. LP Mt. Pleasant Realty Co. LP is a single asset real estate partnership that owns and manages commercial or residential property in Pennsylvania. Mt. Pleasant Realty Co. LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-11247) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Derek J. Baker handles the case. The Debtor is represented by Albert Anthony Ciardi, III, Esq. at Ciardi Ciardi & Astin. MY CITY BUILDERS: Posts $78,299 Net Loss in Fiscal Q2 ----------------------------------------------------- My City Builders, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $78,299 on $29,743 of total revenue for the three months ended January 31, 2025, compared to a net loss of $1,020,466 on $13,599 of total revenue for the three months ended January 31, 2024. For the six months ended January 31, 2025, the Company reported a net loss of $152,784 on $55,271 of total revenue, compared to a net loss of $1,093,043 on $19,768 of total revenue for the same period in 2024. As of January 31, 2025, the Company had an accumulated deficit of $2,172,616. To continue as a going concern, the Company will need, among other things, additional capital resources. Management's plans to raise necessary funding through equity financing arrangements may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ended July 31, 2025. However, until the Company engages in an active business or makes an acquisition, the Company is likely to not be able to raise any significant debt or equity financing. The ability of the Company is dependent upon, among other things, obtaining financing to commence operations and develop a business plan or making an acquisition. The Company cannot give any assurance as to its ability to develop or acquire a business or to operate profitably. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/mvf3m663 About My City Builders, Inc. Headquartered in Miami, Fla., My City Builders, Inc., through its subsidiary, plans to focus on real estate transactions, in which it will buy and develop real estate for sale or rent of low-income housing. The Company plans to invest in three sectors of this market by (i) buying, refurbishing, and selling traditional foreclosures, (ii) buying, developing and renting "Land Banks" that have an average pool of homes or lots in excess of 100 in one location, and (iii) buying, refurbishing or developing and selling homes made available by the government through HECM pools. As of January 31, 2025, the Company had $3,984,400 in total assets, $1,259,504 in total liabilities, and total stockholders' equity of $2,724,896. NAOUI LLC: Seeks Chapter 11 Bankruptcy in Maryland -------------------------------------------------- On April 2, 2025, Naoui LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maryland. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Naoui LLC Naoui LLC is engaged in the leasing and management of residential, commercial, and industrial real estate properties. Naoui LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-12871) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Duane R. Demers, Esq. at LAW OFFICES OF ALI K., LLC. NATIONAL DEVELOPMENT: Seeks Chapter 11 Bankruptcy in California --------------------------------------------------------------- On March 31, 2025, National Development Fund LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filing, the Debtor reports $959,377 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About National Development Fund LLC National Development Fund LLC is a real estate debtor with a single asset, as defined in 11 U.S.C. Section 101(51B). It owns the property located at 15835 Boyle Avenue, Fontana, CA 92337, which is appraised at $1.6 million based on comparable sales. National Development Fund LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-12672) on March 31, 2025. In its petition, the Debtor reports total aAssets of $1,600,000 and total liabilities of $959,377. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Jeremy W. Faith, Esq. at MARGULIES FAITH LLP. NATUROMULCH LLC: Seeks Subchapter V Bankruptcy in Texas ------------------------------------------------------- On March 31, 2025, Naturomulch LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Naturomulch LLC Naturomulch LLC is a Texas-based manufacturer and distributor of wood mulch products. Naturomulch LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-40909) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Daniel C Durand, III, Esq. at Durand & Associates, P.C. NETCAPITAL INC: Posts $3 Million Net Loss in Fiscal Q3 ------------------------------------------------------ Netcapital Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $3,006,537 on $152,682 of total revenue for the three months ended January 31, 2025, compared to a net loss of $2,227,542 on $1,042,793 of total revenue for the three months ended January 31, 2024. For the nine months ended January 31, 2025, the Company reported a net loss of $7,754,208 on $465,437 of total revenue, compared to a net loss of $2,379,581 on $4,604,260 of total revenue for the same period in 2024. Management Comments: "During the fiscal year, management shifted its focus to establishing the company's wholly-owned broker-dealer subsidiary, Netcapital Securities Inc., which was approved by FINRA in November. We believe this major milestone will provide additional sources of revenue going forward," said Martin Kay, CEO of Netcapital Inc. "We did face a tough quarter during an uncertain market environment. Looking forward, however, we are pleased that Algernon NeuroScience Inc. recently engaged Netcapital Securities for a planned Regulation A (Reg A) offering and to provide broker-dealer and administrative services." A full-text copy of the Company's Form 10-Q is available at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1414767/000149315225010560/form10-q.htm About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated July 29, 2024, citing that the Company has negative working capital, net operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2025, the Company had $39,900,677 in total assets, $4,930,412 in total liabilities, and total stockholders' equity of $34,970,265. NEUEHEALTH INC: Modifies CMS Repayment Agreements for $271.8-Mil. ----------------------------------------------------------------- NeueHealth, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that each of the Company's insurance subsidiaries in Colorado and Florida entered into letters of agreement with the Centers for Medicare & Medicaid Services to modify the terms of the repayment agreements previously entered into with CMS on September 14, 2023, with respect to the remaining unpaid amount of their risk adjustment obligations for an aggregate amount of $271.8 million. The remaining amount owing under the Modified Repayment Agreements is due 36 months from September 15, 2023 (the date the first installment payment was made under the Original Repayment Agreements) and bears interest at a rate of 11.5% per annum. Each Letter of Agreement also requires: (i) monthly payments to CMS of $1,000 for its duration, (ii) upon 30 calendar days' notice, an interim balloon payment to CMS in the amount specified therein, which will be determined based on whether or not all paid and accrued interest on amounts owing under the Modified Repayment Agreements is waived, and (iii) payment to CMS of a specified percentage of surplus funds currently held by any affiliated insurance company under certain conditions specified therein. Failure to make payments in accordance with, or otherwise meet the terms of, the Modified Repayment Agreements, or entering into liquidation, rehabilitation, or early pre-liquidation, will result in a default under the Modified Repayment Agreements, in which event the full balance of the amount owed under the Modified Repayment Agreements will become immediately due and payable. About NeueHealth Inc. Headquartered in Doral, FL, NeueHealth -- http://www.neuehealth.com/-- is a value-driven healthcare company rooted in the belief that every health consumer deserves high-quality, coordinated care. The Company operates through two primary segments -- NeueCare and NeueSolutions -- each focused on optimizing the healthcare experience for consumers, providers, and payors with a consumer-centric, value-based care model. NeueCare provides accessible, affordable healthcare across diverse populations, including those in the ACA Marketplace, Medicare, and Medicaid, through both owned and affiliated clinics. NeueSolutions empowers providers and medical groups to succeed in performance-based care models. This segment also participates in the Centers for Medicare & Medicaid Innovation's (CMMI) ACO REACH program, ensuring high-quality healthcare access for Medicare beneficiaries. In its report dated March 21, 2025, Deloitte & Touche LLP, the Company's auditor since 2020, issued a "going concern" qualification attached in the Company's Form 10-K for the year ended Dec. 31, 2024, stating that the Company has a history of operating losses, negative cash flows from operations and does not have sufficient cash on hand or available liquidity to meet its obligations. These conditions raise substantial doubt about its ability to continue as a going concern. NEXERA MEDICAL: Seeks to Hire B. Riley Advisory as Accountant ------------------------------------------------------------- NEXERA Medical, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire B. Riley Advisory Services as accountant. The firm will assist the Debtor with the preparation and filing of the tax returns for 2023 and 2024. The accountant will be paid at $575 per hour. Alan Barbee, a senior managing director at GlassRatner Advisory & Capital 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 through: Alan R. Barbee, CPA B. Riley Advisory Services 5000 T-Rex Avenue, Suite 300 Boca Raton, FL 33431 Email: abarbee@brileyfin.com About NEXERA Medical NEXERA Medical, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-13388) on April 28, 2023, with $155,521 in assets and $1,902,367 in liabilities. Maria Yip has been appointed as Subchapter V trustee. Judge Scott M. Grossman oversees the case. The Debtor tapped Jordan L. Rappaport, Esq., at Rappaport Osborne & Rappaport, PLLC as legal counsel and Paul B. Kroncke, CPA. P.A. as accountant. NIKOLA CORP: Trevor Milton Wants Chapter 11 Subpoena Rejected ------------------------------------------------------------- Ben Zigterman of Law360 reports that the Trevor Milton, the recently pardoned founder of Nikola Corp., has asked a Delaware bankruptcy judge to block a subpoena requesting documents from an arbitration between the former CEO and the troubled electric-vehicle manufacturer. About Nikola Corp. Nikola Corporation manufactures commercial vehicles. The Company provides battery and hydrogen fuel-cell electric vehicles, drivetrains, components, energy storage systems, fueling station infrastructure, and other transportation solutions. Nikola serves customers worldwide. Nikola Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10258) on February 19, 2025. In its petition, the Debtor reports estimated assets between $500 million and $1 billion, with liabilities ranging from $1 billion to $10 billion. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by M. Blake Cleary, Esq. at Potter Anderson & Corroon LLP. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Nikola Corp. and its affiliates. NORTH MISSISSIPPI: Claims to be Paid From Asset Sale Proceeds ------------------------------------------------------------- North Mississippi Media Group, LLC filed with the U.S. Bankruptcy Court for the Northern District of Mississippi a Subchapter V Plan of Liquidation dated March 10, 2025. The Debtor was formed in 2016 and is the operator of radio station 95.3 WEBL, and 100.1 FM (translator W261CE). The Debtor's locations were operating in the ordinary course of business, playing music to their customer base and selling advertisements. Upon entry of an order confirming the Plan, the Debtor (more likely Debtor's counsel) shall interview, consult and then employ a broker and prepare the necessary documents to employ, and compensate, the broker. But this will only occur upon confirmation. Once the broker has been engaged, and begins the marketing process, the Debtor will continue to monitor that proceeds and hopeful the Court's forthcoming order will compel the Debtor's principals to comply with their fiduciary obligations and file reports and related documents on a timely basis. Once a purchaser or purchasers has been identified, the Debtor will then opt to either file a motion to sell assets to that purchaser or purchasers, and/or establish a bidding/auction procedure for the determination of the highest and best bidder, if there is/are more than one interested bidder or bidders. Upon entry of an order approving a sale or sales of the FCC license or licenses, the Debtor will collect the sale proceeds and disburse them to Creditors, as their priorities are mandated by the Bankruptcy Code. Since there are no Secured Creditors in this case with perfected liens upon the Debtor's FCC licenses, payments will be made first to administrative expense claimants and next to any priority claimants that may exist. The Debtor's Schedules do not reflect any Creditors with any priority claims, although the proof of claim docket may ultimately provide to the contrary as to Claims that are ultimately allowed or that are not objected to in due course. Thereafter, sales proceeds will be distributed and paid to Unsecured Creditors on a pro-rata basis unless the sales proceeds yields an amount sufficient to pay all creditors in full. Class 3 consists of General Unsecured Creditors. The Bankruptcy Code requires the Debtor to promise to pay to Unsecured Creditors its projected disposable income. In liquidation settings such as this case, the Debtor will pay projected disposable income that will be determined by the amount of sales proceeds the Debtor receives from the sale of property that is free and clear of liens, after deductions of payments to administrative expense and priority claimants. The administrative expense claims and the priority claims have not yet been fully determined, although, based upon the Schedules filed in this case, there are nor priority claims. The Debtor's equity security holders will maintain their ownership of the Debtor, although this retention is mot meaningful unless the Debtor can obtain sufficient funds from its asset sale to pay creditors in full. A full-text copy of the Liquidating Plan dated March 10, 2025 is available at https://urlcurt.com/u?l=cWB2O4 from PacerMonitor.com at no charge. North Mississippi Media Group, LLC is represented by: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About North Mississippi Media North Mississippi Media Group, LLC was formed in 2016 and is the operator of radio station 95.3 WEBL, and 100.1 FM (translator W261CE). The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 24-12920) on Sept. 20, 2024, listing $1,000,001 to $10 million in both assets and liabilities. The Debtor tapped Craig M. Geno, Esq., at Law Offices Of Craig M. Geno, PLLC as bankruptcy counsel and Anne Goodwin Crump, Esq., at Fletcher, Heald & Hildreth, PLC as special counsel. NOSTRUM LABORATORIES: To Sell Drug Formulations at Auction ---------------------------------------------------------- Nostrum Laboratories, Inc. seeks permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property, free and clear of liens, interests, and encumbrances. The Debtor is engaged in the formulation and commercialization of specialty pharmaceutical products and controlled release, orally administered, branded and generic drugs. The Debtor manufactures several life-saving drugs that only it manufactures, such as theophylline SR in 100mg and 200mg dosages, which is used to treat a host of lung diseases. The Debtor has two plants -- one in Kansas City, Missouri which manufactures pills and another plant in Bryan, Ohio which manufactures liquids. Raymond James & Associates, Inc. on behalf of the Debtor, and in concert with Citizens Bank and the Official Committee of Unsecured Creditors, conducted an auction of the Debtor's assets which commenced on April 1, 2025 at 10:00 AM and concluded at approximately midnight at the offices of Raymond James & Associates, Inc., 320 Park Avenue, New York, NY 10022. The sale process conducted by the Debtor and the Consultation Parties that resulted in the highest or otherwise best value for the Sale Assets, was in the best interests of the Debtor, their creditors, and all parties in interest, and any other transaction. The Debtor requests that the assets which are being sold, and that contracts being assigned will be sold and assigned free and clear of all liens, claims, encumbrances and interests of any kind. The Debtor enters a purchase agreement with the following successful bidders for the following assets and prices: a. ANI Pharmaceuticals, Inc.: $1,700,000, with respect to the following ANDAs: • 076756 Metformin (Glucophage) • 012546 TENUATE® DOSPAN • 088629 Acetaminophen and Codeine Phosphate • 076697 Carbamazepine b. Aviv Pharma Inc.: $600,000, with respect to the following ANDAs: • 074127 Atenolol • 075929 BACC • 204705 Dutasteride • 203087 Eszopiclone • 065468 Neomycin Sulfate • 078472 Pioglitazone • 091450 Pramipexole Dihydrochloride • 073685 Lactulose (ACILAC) • 073686 Lactulose (LAXILOSE) • 209560 Doxycycline Tablets c. Big Shoulders Capital XII, LLC and Federal Equipment Company: $250,000, with respect to the equipment at the Bryan, OH facility d. Bionpharma, Inc.: $50,000, with respect to the following ANDA: • 209393 Doxycycline Capsules e. Chartwell Pharmaceuticals, LLC: $4,625,000, with respect to the following ANDAs: • 074415 Sucralfate • 090180 Promethazine Hydrochloride and Codeine Phosphate • 088764 Promethazine, Phenylephrine Hydrochloride and Codeine Phosphate f. Everest Life Sciences, LLC: $1,900,000, with respect to the Kansas City, MO facility and the following assets: • 074404 Atenolol and Chlorthalidone • 078149 BAC • 076138 Ciprofloxacin • 076486 Enalapril Maleate and Hydrochlorothiazide • 076723 Hydromorphone Hydrochloride • 090511 Levetiracetam • 207587 Methylphenidate Tablets • 090427 Nabumetone • 203600 Phendimetrazine Tartarate • 074474 Pindolol (discontinued) • 203694 Ranitidine • 203394 Sevelamer Carbonate • 011722 TENUATE® • 078778 Tramadol Hydrochloride/Acetaminophen • 200430 Venlafaxine (discontinued) • 204691 Acetazolamide • 207237 Carisoprodol • 203243 Clarithromycin • 090359 Mefenamic Acid • 203832 Metformin (Fortamet) • 207726 Niacin • 205415 Pindolol • 087400 Theophylline – 100 mg, 200 mg, 300 mg and 450 mg • 040560 Theophylline – 400 mg and 600 mg • 205468 Venlafaxine g. Everest Life Sciences, LLC: $275,000, with respect to the following ANDA: • 203179 Calcium Acetate h. PAI Holdings, LLC d/b/a PAI Pharma: $350,000, with respect to the following ANDA: • 077105 Valproic Acid i. Solis Pharmaceutical, Inc.: $1,225,000, with respect to the following ANDAs: • 203179 Calcium Acetate • 074118 Piroxicam • 077708 Cilostazol • 203887 Dapsone • 085186 Elixophyllin • 210663 Hydrocodone Bitartrate /Homatropine Methylbromide • 075292 Fluoxetine Hydrochloride • 201011 Morphine Sulfate • 201448 Oxycodone Hydrochloride and Acetaminophen • 202060 PEG-3350 k. Strides Pharma, Inc.: $2,075,000, with respect to the following ANDAs: • 077723 Hydrocodone Bitartrate and Ibuprofen • 204954 Methylphenidate Chewable Tablets • 040891 Promethazine Hydrochloride • 201355 Nitrofurantoin l. Waterford Bank : credit bid for $1,345,085, for the real property in Bryon, Ohio on which Waterford holds a mortgage. The Debtor seeks approval of the Back-Up Bids in the event that the sales of the assets do not close: a. Kesin, $150,000, with respect to the following ANDA: • 040891 Promethazine Hydrochloride b. PAI: $225,000, with respect to the following ANDAs: • 085186 Elixophyllin • 210663 Hydrocodone Bitartrate /Homatropine Methylbromide • 201011 Morphine Sulfate • 201448 Oxycodone Hydrochloride and Acetaminophen • 202060 PEG-3350 c. Solis, with respect to the following ANDAs: • 076697 Carbamazepine, $750,000 • 077105 Valporic Acid, $325,000 d. Strides, with respect to the following ANDAs: • 88629 Acetaminophen and Codeine Phosphate, $400,000 • 203887 Dapsone, $250,000 • 203179 Calcium Acetate, $250,000 • 075292 Fluoxetine Hydrochloride, $250,000 • 090180 Promethazine Hydrochloride and Codeine Phosphate, $250,000 The Debtor does not believe that there are any viable alternative options other than immediately pursuing a sale of the Sale Assets. The Debtor was hoping for a higher bid total at the auction, but the auction involved multiple bids for most of the assets. The bids are still subject to higher and better offers. About Nostrum Laboratories Inc. Nostrum Laboratories Inc. operates as a pharmaceutical company. The Company offers sucralfate, and theophylline extended release (ER) tablets, as well as piroxicam capsules, and carbamazepine ER capsules. Nostrum Laboratories Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 24-19611) on Sept. 30, 2024. In the petition filed by James Grainer, as chief financial officer, the Debtor estimated assets between $50,000 and $100,000 and estimated liabilities between $10 million and $50,000. The Honorable Bankruptcy Judge John K. Sherwood handles the case. The Debtor is represented by David L. Bruck, Esq. at GREENBAUM, ROWE, SMITH & DAVIS LLP, in Iselin, New Jersey. NUEVA VISTA: Seeks to Hire SoCal Law Group as Bankruptcy Counsel ---------------------------------------------------------------- Nueva Vista 2018 LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire SoCal Law Group, PC as attorneys. The firm will render these services: (a) advise the Debtor regarding matters of bankruptcy law and concerning the requirements of the Bankruptcy Code, and Bankruptcy Rules relating to the administration of this case, and the operation of the Debtor's estate as a debtor in possession; (b) represent the Debtor in proceedings and hearings in the court involving matters of bankruptcy law; (c) assist in compliance with the requirements of the Office of the United States trustee; (d) provide the Debtor legal advice and assistance with respect to the Debtor's powers and duties in the continued operation of the Debtor's business and management of property of the estate; (e) assist the Debtor in the administration of the estate's assets and liabilities; (f) prepare necessary applications, answers, motions, orders, reports and/or other legal documents on behalf of the Debtor; (g) assist in the collection of all accounts receivable and other claims that the Debtor may have and resolve claims against the Debtor's estate; (h) provide advice, as counsel, concerning the claims of secured and unsecured creditors, prosecution and/or defense of all actions; (i) prepare, negotiate, prosecute and attain confirmation of a plan of reorganization; (j) provide other legal services. The firm will be paid at these rates: James Mortensen $425 per hour Yanothai Thanatanon $50 per hour The firm received a retainer in the amount of $8,000. Socal Law Group, PC is a "disinterested persons" within the meaning of 11 U.S.C. Sec. 101, according to court filings. The firm can be reached through: James Mortensen, Esq. Socal Law Group, PC 2855 Michelle Drive 120 Irvine CA 92606 Tel: (213) 387-7414 E-mail: pimmsno1@aol.com About Nueva Vista 2018 LLC Nueva Vista 2018 LLC is a construction company headquartered in Laguna Beach, California. Nueva Vista 2018 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10166) on January 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Theodor Albert handles the case. James Mortensen, Esq. at Socal Law Group, PC represents the Debtor as counsel. NURSES FIRST: Court Extends Cash Collateral Access to May 8 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida granted Nurses First Solutions, LLC third interim approval to use cash collateral until May 8. The interim order authorized the company to use cash collateral to pay the expenses set forth in its budget, plus an amount not to exceed 10% for each line item. Secured creditors were granted a perfected post-petition lien on the cash collateral to the same extent and with the same validity and priority as their pre-bankruptcy lien. As additional protection to secured creditors, Nurses First Solutions was ordered to keep its property insured. In the event of a default, any secured creditor may serve the company with a notice, giving the company 10 days to cure the default. If the company fails to timely cure the default, the secured creditor is entitled to request an emergency hearing on a motion to prohibit use of cash collateral. The next hearing is set for May 8. About Nurses First Solutions Nurses First Solutions, LLC is a nurses staffing agency built by nurses for nurses. As a trusted travel nursing and allied healthcare agency, NFS offers opportunities, tools, technology, and support to advance nurses' career. Nurses First Solutions filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-06700) on December 10, 2024, listing between $500,000 and $1 million in assets and between $1 million and $10 million in liabilities. Alvin D. Cortez, managing member of Nurses First Solutions, signed the petition. Judge Tiffany P. Geyer handles the case. The Debtor is represented by: Justin M. Luna, Esq. Latham, Luna, Eden & Beaudine, LLP 201 S. Orange Avenue Suite 1400 Orlando, FL 32801 Tel: (407) 481-5800 Fax: (407) 481-5801 Email: jluna@lathamluna.com NURSES FIRST: Unsecureds to Get Share of Income for 3 Years ----------------------------------------------------------- Nurses First Solutions, LLC, filed with the U.S. Bankruptcy Court for the Middle District of Florida a Subchapter V Plan of Reorganization dated March 10, 2025. The Debtor is a staffing and recruitment company that prioritizes excellence in helping nurses secure high-paying positions throughout Central Florida. The Debtor was formally formed in 2014. The Debtor conducts its operations from 7061 University Blvd., Winter Park, Florida 32792, on a month to month lease. The Debtor's biggest customers are hospitals in need of highly skilled nurses on part-time or full-time basis. 95% are travel nurses and 5% are permanent placement. Class 2 consists of all Allowed General Unsecured Claims against the Debtor. In full satisfaction of the Allowed Class 2 General Unsecured Claims, Holders of Class 2 Claims shall receive a pro rata share of Debtor's projected Disposable Income for three years following the Petition Date. The distributions will occur quarterly, with the first distribution occurring three months after the Effective Date. The Debtor will disburse the distributions directly. In addition to the distributions outlined herein, Class 2 Claimholders shall also receive a pro rata share of the net proceeds recovered from all Causes of Action after payment of professional fees and costs associated with such collection efforts, and after Administrative Claims and Priority Claims are paid in full. The maximum Distribution to Class 2 Claimholders shall be equal to the total amount of all Allowed Class 2 General Unsecured Claims. Class 2 is Impaired. Class 3 consists of all equity interests in the Debtor. Class 3 Interest Holders shall retain their respective Interests in the same proportions such Interests were held as of the Petition Date. Class 3 is Unimpaired. The Plan contemplates the Debtor will continue to manage and operate its business in the ordinary course, but with restructured debt obligations. Funds generated from the Debtor's operations through the Effective Date will be used for Plan Payments; however, the Debtor's cash on hand as of Confirmation will be available for payment of Administrative Expenses. The management and operations of the Debtor will continue to be overseen by the Debtor’s current managing member, Mr. Alvin D. Cortez, who will continue to cultivate the Debtor's existing business and continue daily operations. The power of the managing member shall be substantially the same as they were prior to the Petition Date. A full-text copy of the Subchapter V Plan dated March 10, 2025 is available at https://urlcurt.com/u?l=klGvB2 from PacerMonitor.com at no charge. About Nurses First Solutions LLC Nurses First Solutions, LLC is a nurses staffing agency built by nurses for nurses. Nurses First Solutions filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-06700) on December 10, 2024, listing assets between $500,000 and $1 million and liabilities between $1 million and $10 million. Alvin D. Cortez, managing member, signed the petition. Judge Tiffany P. Geyer handles the case. The Debtor is represented by: Justin M. Luna, Esq. Latham, Luna, Eden & Beaudine, LLP 201 S. Orange Avenue, Suite 1400 Orlando, FL 32801 Tel: (407) 481-5800 Fax: (407) 481-5801 Email: jluna@lathamluna.com OCEAN POWER: Reports $6.7 Million Net Loss in Fiscal Q3 ------------------------------------------------------- Ocean Power Technologies, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $6.7 million on $0.8 million of revenue for the three months ended January 31, 2025, compared to a net loss of $6.5 million on $1.8 million of revenue for the three months ended January 31, 2024. For the nine months ended January 31, 2025, the Company incurred net losses of approximately $15.1 million and used cash in operations of approximately $14.6 million. In addition, the Company has continued to make investments to support order backlog and future growth. For the nine months ended January 31, 2025 and through the date of filing of this Form 10-Q, the Company has obtained additional capital financing through our capital raises with certain investors. Despite this, management believes the Company's current cash, cash equivalents, and restricted cash balances at January 31, 2025 of $10.2 million may not be sufficient to fund its planned expenditures through March 2026. The Company's future results of operations involve significant risks and uncertainties. Factors that could affect the Company's future operating results and could cause actual results to vary materially from expectations include, but are not limited to, performance of its products, its ability to market and commercialize its products and new products that it may develop, access to capital, technology development, scalability of technology and production, ability to attract and retain key personnel, concentration of customers and suppliers, pending or threatened litigation, and deployment risks and integration of acquisitions. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company's operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. As of January 31, 2025, the Company had $34.4 million in total assets, $5.5 million in total liabilities, and $28.9 million in total shareholders' equity. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/oceanpower10Q About Ocean Power Technologies Ocean Power Technologies, Inc. -- https://oceanpowertechnologies.com/ -- provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. The Company's PowerBuoy platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. The Company also offers WAM-V autonomous surface vessels (ASVs) and marine robotics services. The Company's headquarters is located in Monroe Township, New Jersey, with an additional office in Richmond, California. Iselin, New Jersey-based EisnerAmper LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated July 25, 2024, citing that the Company has recurring net losses and net cash flow used in operations that raise substantial doubt about its ability to continue as going concern. OCEAN POWER: Signs LOI for Powerbuoy Deployment ----------------------------------------------- Ocean Power Technologies, Inc. announced it received a binding letter of intent to deploy a PowerBuoy for an undisclosed customer to demonstrate the survivability and suitability of the system for certain multidomain defense and security applications in extreme sea conditions. This follows the signing of a teaming agreement with a major international defense contractor last year to provide its Merrows suite of solutions with a focus on certain geographic regions. Mr. Philipp Stratmann, CEO and President of Ocean Power Technologies, expressed enthusiasm about the deployment, stating, "We are excited to advance our collaboration and move towards deployment to demonstrate the offshore capabilities and suitability of our intelligence, surveillance, and reconnaissance solutions. This step underscores our commitment to enhancing maritime security globally, and we are confident that together with our partners, we will achieve remarkable advancements in this field." For more information about Ocean Power Technologies and its Maritime Domain Awareness Solution, visit www.OceanPowerTechnologies.com. About Ocean Power Technologies Ocean Power Technologies, Inc. -- https://oceanpowertechnologies.com/ -- provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. The Company's PowerBuoy platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. The Company also offers WAM-V autonomous surface vessels (ASVs) and marine robotics services. The Company's headquarters is located in Monroe Township, New Jersey, with an additional office in Richmond, California. Iselin, New Jersey-based EisnerAmper LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated July 25, 2024, citing that the Company has recurring net losses and net cash flow used in operations that raise substantial doubt about its ability to continue as going concern. ODEBRECHT ENGENHARIA: Seek Court's Chapter 15 Recognition --------------------------------------------------------- Alex Wittenberg Law360 Bankruptcy Authority reports that Brazilian construction company Odebrecht Engenharia e Construcao SA (OEC) has requested a New York bankruptcy judge to approve its Chapter 15 recognition bid, urging the court to overrule an objection from the U.S. Department of Justice's bankruptcy watchdog, which argues that OEC's restructuring plan includes illegal liability releases and other provisions. About Odebrecht Engenharia e Construçao SA Odebrecht Engenharia e Construçao SA is a Brazilian company specializing in large-scale civil engineering, construction, and infrastructure development projects. It offers turnkey solutions, managing every phase of construction from planning to execution for both public and private sector clients. The Company operates in five key sectors: urban development, energy, sanitation, industrial plants, and transport and logistics. As a wholly owned subsidiary of Novonor, OEC serves markets in Brazil, Angola, Peru, and the United States. Odebrecht Engenharia e Construçao SA sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10482) on March 14, 2025. The Debtor's foreign representative is Adriana Henry Meirelles and Luke A. Barefoot, Esq. and Thomas S. Kessler, Esq. are the Debtor's foreign repreentative counsels. OYSTER LLC: Creditors to Get Proceeds From Liquidation ------------------------------------------------------ Oyster, LLC, filed with the U.S. Bankruptcy Court for the District of New Jersey a Small Business Combined Plan of Liquidation and Disclosure Statement dated March 11, 2025. The Debtor is the landlord of the Milford House Restaurant. Ownership of real estate known as 92 Water Street Milford NJ. The members are Jaqueline Tangtrakul, Thomas Kulnis, Elizabeth Tangtrakul and Margaret Rue. The Debtor has been operating since 2016. Covid and flood had a major impact on the business. The Debtor's Plan requires the sale of the Oyster LLC real estate and Milford House LLC equipment and Liquor License. Administration and creditors will be paid from the sale. The Debtor shall liquidate all its assets and real property in order to pay creditors 100% of their claim. Class 4 consists of Equity Holders J. Tangtrakul, Kulnis, E. Tangtrakul, Rue. Only paid if funds available after paying all creditors of Oyster and Milford House. On Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to sell all its assets to pay creditors in full. A full-text copy of the Combined Liquidating Plan and Disclosure Statement dated March 11, 2025 is available at https://urlcurt.com/u?l=kgVkK8 from PacerMonitor.com at no charge. Counsel to the Debtor: Andre L. Kydala, Esq. Law Firm of Andre L. Kydala 12 Lower Center St. Clinton, NJ 08809 Telephone: (908) 735-2616 Email: kydalalaw@aim.com About Oyster LLC Oyster, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 24-22175) on December 11, 2024, with as much as $50,000 in both assets and liabilities. Andre Kydala, Esq., represents the Debtor as legal counsel. PANTEGO DEVELOPMENT: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------------------- On March 31, 2025, Pantego Development LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Pantego Development LLC Pantego Development LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). Pantego Development LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41162) on March 31, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Howard Marc Spector, Esq. at SPECTOR & COX, PLLC. PARKLAND CORP: DBRS Confirms 'BB' Issuer Rating, Trend Positive --------------------------------------------------------------- DBRS Limited confirmed the Issuer Rating and Senior Unsecured Notes rating of Parkland Corporation (Parkland or the Company) at BB. The trend on the credit ratings is Positive. The Recovery Rating on the Senior Unsecured Notes is RR4. KEY CREDIT RATING CONSIDERATIONS The rating confirmations acknowledge Parkland's lower-than-expected operating performance over the last 12 months but continues to reflect Morningstar DBRS' view that Parkland is well positioned to navigate the ongoing volume and margin volatility, particularly in its refining business, within the context of the current rating category. The credit rating confirmations at existing levels, rather than an upgrade, reflects Morningstar DBRS' view that the current macro environment has resulted in a higher uncertainty with respect to the Company's earnings forecast and margin pressures as well as the sustainability of key leverage metrics at levels that commensurate with a higher rating category. Morningstar DBRS could change the trend to Stable if operating performance is weaker than expected and/or key credit metrics continues to be adversely affected. On March 20, 2024, Morningstar DBRS confirmed Parkland's ratings at BB but changed the trend to Positive from Stable, reflecting a gradual strengthening of Parkland's business risk profile, due to the successful integration of multiple acquisitions in recent years, and material improvement in Parkland's key credit metrics. At that time, Morningstar DBRS stated that ratings could be upgraded if Parkland's operating performance were to track in line with its expectations and key credit metrics were to remain at levels that are commensurate with a higher rating category (i.e., debt-to-EBITDA below 4.0 times (x) on a normalized and sustainable basis and EBITDA-to-interest ratio comfortably above 4.5x). Parkland has since reported its operating results for full-year 2024 and operating performance has been materially weaker than Morningstar DBRS' expectations. Parkland's 2024 EBITDA at approximately $1.7 billion is 11.7% lower than 2023 EBITDA of $1.9 billion and flat as compared with 2022, driven primarily by lower contribution from refinery operations. Parkland's refinery contribution in 2024 was materially affected due to an unplanned shutdown in Q1 2024 coupled with normalization in refinery margins, particularly in the second half of 2024. For the retail and commercial segment of the business, the overall EBITDA contribution was relatively flat year over year, despite lower fuel volumes across Parkland's core markets as a result of increased competition and reduction in the lower margin wholesales business. Operating cash flows tracked the decline in operating income and reduced to $1.1 billion in 2024 compared with $1.3 billion in 2023 and was primarily utilized towards capital expenditure (capex) levels of approximately $0.5 billion and shareholder returns, including dividends and share repurchases, of approximately $0.4 billion. With EBITDA moderation and relatively flat debt levels, debt-to-EBITDA deteriorated to 3.9x in 2024 from 3.3x in 2023, and 4.1x in 2022. CREDIT RATING DRIVERS Morningstar DBRS could upgrade the ratings over the next two to four quarters if Parkland's operating performance were to track in line with Morningstar DBRS' expectations and key credit metrics were to remain at levels that are commensurate with a higher rating category (i.e., debt-to-EBITDA below 4.0x and EBITDA-to-interest ratio comfortably above 4.5x, on a normalized and sustainable basis). Conversely, Morningstar DBRS may change the trend back to Stable if weaker-than-expected operating performance and/or aggressive financial management were to result in key credit metrics weakening again (i.e., debt-to-EBITDA ratio returns to levels above 4.0x). Although unlikely in the near term, ratings could be downgraded if leverage weakens to levels toward 5.0x as a result of weaker-than-expected operating results and/or more aggressive financial management. EARNINGS OUTLOOK Despite the recent earnings moderation, Morningstar DBRS expects Parkland's earnings profile to remain relatively stable during the forecast period, benefitting from an improvement in refinery contribution in the near term and relatively stable contribution from thenon-refinery business segments. Morningstar DBRS expects refinery EBITDA contribution to recover in 2025, primarily as a result of higher full-year utilization rate and modest improvement in crack spreads. For the retail and commercial segment of the business, Morningstar DBRS expects fuel volumes to remain relatively flat in the near term with moderate improvement during the latter half of 2025, as market conditions improve, and fuel gross margins on a cents-per-liter (cpl) basis to remain relatively flat. Morningstar DBRS anticipates the food and convenience business volumes to grow in the low- to mid-single digits but margins to remain pressured due to stagflation and the impact of tariff uncertainty on consumer spending behavior, at least in the near term. As such, Morningstar DBRS forecasts Parkland's EBITDA to increase to approximately $1.8 billion in 2025 from $1.7 billion in 2024, primarily due to earnings recovery in the refinery business, and towards $1.9 billion in 2026. FINANCIAL OUTLOOK Parkland's financial profile is expected to remain relatively stable and strong for the current rating category, benefitting from moderate growth in earnings, while debt levels remain relatively stable in the absence of any major leveraged acquisitions. Cash flow from operations should track recovery in operating income, increasing to levels between $1.25 billion and $1.35 billion in 2025 and 2026 from approximately $1.10 billion in 2024. Morningstar DBRS anticipates capex to remain elevated at levels above $500 million annually, and cash outflow on dividends to increase in low-single-digits toward $260 million in 2026. Morningstar DBRS forecasts Parkland to generate free cash flow (before changes in working capital) of above $500 million that will be used primarily toward shareholder returns, principal lease payments, and modest debt reduction. As such, Morningstar DBRS expects Parkland's key credit metrics to improve moderately over the near to medium term, with debt-to-EBITDA around 3.6x in 2025 and below 3.5x in 2026, largely within the Company's publicly stated net leverage target of 2.0x to 3.0x. CREDIT RATING RATIONALE Parkland's credit ratings continue to be supported by its strong market position, diversified customer and supplier base, geographic diversification, and the sector's relatively high barriers to entry while taking into account the industry's competitive nature, exposure to economic cycles, and volatility in refinery margins, as well as relatively medium- to long-term risks associated with the electric vehicle transition. Notes: All figures are in Canadian dollars unless otherwise noted. PATHWAY VET: S&P Lowers ICR to 'SD' on Distressed Debt Transaction ------------------------------------------------------------------ S&P Global Ratings lowered its issuer credit rating (ICR) on U.S.-based veterinary practice management company Pathway Vet Alliance LLC (doing business as Thrive Pet Healthcare) to 'SD' (selective default) from 'CCC+'. At the same time, S&P lowered its issue-level rating on the company's first-lien term loan to 'D'. S&P expects to reassess our ICR on Thrive in the near term. S&P said, "We view Thrive's restructuring transaction as distressed and tantamount to a default. The transaction placed a new $25 million super priority revolving credit facility (RCF) and a $215 million new money first out term loan in Thrive's capital structure. Additionally, Thrive has exchanged and extended its existing first- and second-lien term loans. Under the new structure, roughly $188 million of the exchanged first-lien term has first out priority, equal in ranking with the new RCF and new money term loan, with the remaining $1.3 billion having second-out priority. The interest rate on the exchanged first-lien term loan increased to SOFR plus 500 basis points (bps) with the second-out portion receiving an additional 200 bps of paid-in-kind (PIK) interest. The interest rate on the exchanged second-lien term loan has been fully converted to PIK interest at SOFR plus 775 bps. As part of the refinancing, all maturities were extended to June 2028 and the exchanged first- lien term loan was granted an amortization holiday through maturity. "In our view, the transaction constitutes a shortfall relative to the original promise to both the first- and second-lien debt holders due to the delay in maturity, the subordination to the new money term loan, the amortization holiday, and the revision of interest payment, particularly on the second lien to PIK. While we recognize that the cash interest payment on the exchanged first-lien term loan is increasing by roughly 125 bps, we do not believe it offers sufficient compensation to adequately offset the other amended terms and weaker credit quality compared with the original transaction. We view this shortfall as tantamount to a default given the context of Thrive’s then-constrained financial position, which has been largely resolved through the refinancing transaction. "We will seek to raise our issuer credit rating from 'SD' over the coming days, incorporating the changes to Thrive's capital structure, including the extended maturity profile and improved liquidity. We expect to assign ratings to the new money term loan and exchanged first-lien term loan at that time." PB RESTAURANTS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Three affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- PB Restaurants, LLC 25-01957 4700 Millenia Blvd., Ste. 400 Orlando, FL 32839 Planet Express (LAX), LLC 25-01958 4700 Millenia Blvd., Ste. 400 Orlando, FL 32839 Times Square Buffet, LLC 25-01959 4700 Millenia Blvd., Ste 400 Orlando, FL 32839 Business Description: PB Restaurants, LLC is a hospitality company specializing in operating restaurant concepts, providing dining experiences at various locations. Chapter 11 Petition Date: April 4, 2025 Court: United States Bankruptcy Court Middle District of Florida Judge: Hon. Lori V Vaughan Debtors' Counsel: R.Scott Shuker, Esq. SHUKER & DORRIS, P.A. 121 S. Orange Avenue Suite 1120 Orlando, FL 32801 Tel: (407) 337-2060 E-mail: rshuker@shukerdorris.com PB Restaurants' Estimated Assets: $100,000 to $500,000 PB Restaurants' Estimated Liabilities: $1 million to $10 million Planet Express' Estimated Assets: $100,000 to $500,000 Planet Express' Estimated Liabilities: $1 million to $10 million Times Square's Estimated Assets: $0 to $50,000 Times Square Buffet's Estimated Liabilities: $1 million to $10 million Thomas Avallone, as manager of PB Restaurant, affixed his signatures to the petitions. Full-text copies of the petitions, which includes lists of the Debtors' 20 largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/323JACI/PB_Restaurants_LLC__flmbke-25-01957__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/YEEVBXI/Planet_Express_LAX_LLC__flmbke-25-01958__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/YDFPEJQ/Times_Square_Buffet_LLC__flmbke-25-01959__0001.0.pdf?mcid=tGE4TAMA PIZZERIA MANAGEMENT: Seeks Subchapter V Bankruptcy in Ohio ---------------------------------------------------------- On March 31, 2025, Pizzeria Management III LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Ohio. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Pizzeria Management III LLC Pizzeria Management III LLC a Zeppe's Tavern franchisee operating in Newbury, Ohio. Pizzeria Management III LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-11334) on April 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Jessica E. Price Smith handles the case. The Debtor is represented by Thomas W. Coffey at Coffey Law LLC. PLAZA MARIACHI: Court Extends Cash Collateral Access to April 23 ---------------------------------------------------------------- Plaza Mariachi, LLC got the green light from the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, to use cash collateral until April 23. The company needs to use cash collateral to cover administrative costs such as insurance and professional fees. First Financial Bank, N.A. and Capital One, N.A. hold a lien on the company's property located at 3955 Nolensville Pike, Nashville, Tenn. Rents and profits generated by the property constitute the secured creditors' cash collateral. As protection for the use of First Financial Bank's cash collateral, the bankruptcy court approved the monthly payments of $55,000 to the bank for the period from Feb. 1 through April 23 in lieu of interest-only payments. In exchange for the monthly payments, First Financial Bank has agreed to forbear from taking certain actions, such as moving for stay relief, conversion or dismissal of Plaza Mariachi's bankruptcy case, until April 23. If the company fails to make timely payments or comply with agreed terms, First Financial Bank can exercise its rights and remedies. About Plaza Mariachi LLC Plaza Mariachi is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Plaza Mariachi LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 24-02441) on July 1, 2024, listing $10 million to $50 million in both assets and liabilities. The petition was signed by Mahan Mark Janbakhsh, member/manager. Judge Charles M. Walker oversees the case. Sean C. Wlodarczyk, Esq. at Evans, Jones & Reynolds, PC, is the Debtor's counsel. First Financial Bank, as lender, is represented by: Chase Fann, Esq. Spencer Fane, LLP 511 Union Street, Suite 1000 Nashville, TN 37219 Telephone: (615) 238-6300 Facsimile: (615) 238-6301 Email: cfann@spencerfane.com POTTSVILLE OPERATIONS: Seeks to Extend Plan Exclusivity to May 19 ----------------------------------------------------------------- The Care Pavilion Debtors, affiliates of Pottsville Operations, LLC, asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to May 19 and July 18, 2025, respectively. The Debtors explain that they have been focused on getting approval of the sale of substantially all of the Debtors' respective assets (the "Sale"), resolving any objections to the Sale, and obtaining financing to fund the Debtors' operations through the eventual closing (the "Closing") of the Sale. The Debtors claim that their requested extension of the Exclusive Periods is intended to allow the Debtors to continue to work cooperatively with key parties toward the goal of getting approval of the Sale and Closing the Sale. Extending the Exclusive Periods will benefit creditors by avoiding the drain on estate assets attendant to a competing chapter 11 plan during the Sale process. The Debtors assert that the requested extension of Exclusive Periods by this Motion is the first such extension requested in the Care Pavilion Cases. The Debtors have been in Chapter 11 for less than four months and are making good faith efforts to advance the bankruptcy case in a manner that will maximize the return for the estate. The Debtors further assert that they have been paying their undisputed post-petition bills. Likewise, the Debtors are current on their payments to the U.S. Trustee on account of quarterly fees. Moreover, the Debtors have sufficient liquidity to continue to meet their post-petition obligations, especially with the increased DIP Facility. Thus, the requested extension of the Exclusive Periods will not jeopardize the rights of creditors and other parties who do business with the Debtors during the Chapter 11 Case. The Debtors' Counsel: Elizabeth A. Green, Esq. Andrew V. Layden, Esq. BAKER & HOSTETLER LLP SunTrust Center, Suite 2300 200 South Orange Avenue Orlando, Florida 32801-3432 Tel: (407) 540-7920 Fax: (407) 841-0168 E-mail: egreen@bakerlaw.com E-mail: alayden@bakerlaw.com The Debtors' Local Counsel: Daniel R. Schimizzi, Esq. Mark A. Lindsay, Esq. Harry A. Readshaw, Esq. Jordan N. Kelly, Esq. Sarah E. Wenrich, Esq. RAINES FELDMAN LITTRELL, LLP 11 Stanwix Street, Suite 1100 Pittsburgh, PA 15222 Tel: 412-899-6474 E-mail: dschimizzi@raineslaw.com mlindsay@raineslaw.com hreadshaw@raineslaw.com jkelly@raineslaw.com swenrich@raineslaw.com About Pottsville Operations Pottsville Operations LLC and its affiliates own and operates six skilled nursing facilities in Pennsylvania. Collectively, Pottsville has 925 beds across the six facilities, and 759 residents currently at the Facilities as of the Petition Date. Pottsville acquired the facilities in May of 2021. Pottsville Operations and its 10 affiliates sought relief under sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Lead Case No. 24-70418) on Oct. 15, 2024. In the petition signed by Neil Luria, as chief restructuring officer, Pottsville reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Bankruptcy Judge Jeffery A Deller handles the cases. The Debtors tapped Baker & Hostetler, LLP as general bankruptcy counsel; and RAaines Feldman Littrell, LLP as local counsel. SOLIC Capital Advisors LLC is serving as financial advisor, and Solic's Neil Luria has been tapped as CRO of the Debtors. Stretto, Inc. is the claims agent. Margaret Barajas is the patient care ombudsman appointed in the Debtors' cases. PRO-FIT BASKETBALL: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Pro-Fit Basketball Training, LLC 4960 Boiling Brook Pkwy. Rockville, MD 20852 Business Description: Pro-Fit Basketball Training offers high- level basketball training programs for athletes of all skill levels. The Company provides private, small group, and specialized training, focusing on skills development, footwork, and basketball IQ. Programs are designed for everyone, from beginners to professional players, including camps, private lessons, and group training like their "Rising Stars" and "Next Level" classes. Trainers at Pro-Fit are former professional and NCAA D1 players with experience at the NBA and international levels, offering tailored programs that aim to maximize athletic performance. Additionally, the Company has a state-of- the-art weight room to develop strength and agility. Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court District of Maryland Case No.: 25-12912 Debtor's Counsel: David Cahn, Esq. LAW OFFICE OF DAVID CAHN, LLC 129-10 West Patrick St. 2nd Floor Frederick MD 21701 Tel: (301) 799-8072 E-mail: david@cahnlawoffice.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Julian Vaughn as sole member. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2YD5XZY/Pro-Fit_Basketball_Training_LLC__mdbke-25-12912__0001.0.pdf?mcid=tGE4TAMA PRODIGAL PROTOCOL: Seeks Chapter 11 Bankruptcy in Georgia --------------------------------------------------------- On March 31, 2025, Prodigal Protocol Projections Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filing, the Debtor reports between $100,000 and $500,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Prodigal Protocol Projections Inc. Prodigal Protocol Projections Inc. is an independent creative content company operating in the arts and entertainment sector. Prodigal Protocol Projections Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-53524) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000. PUERTO RICO: Dechert LLP Updates List of PREPA Bondholders ---------------------------------------------------------- The law firm of Dechert LLP filed a fifth verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 case of Puerto Rico Electric Power Authority ("PREPA"), the firm represents PREPA Ad Hoc Group. Dechert submits this Sixth Verified Statement to update the PREPA Ad Hoc Group's holdings of Bonds and disclosable economic interests currently held by its fifteen Members, as of March 14, 2025. Dechert notes that it does not represent the PREPA Ad Hoc Group as a committee (as such term is used in the Bankruptcy Code and Bankruptcy Rules) and does not undertake to, and does not, represent the interest of, and is not a fiduciary for, any creditor, party in interests, or entity other than the PREPA Ad Hoc Group and Invesco. Dechert has been advised by the Members of the PREPA Ad Hoc Group that its Members either hold, or manage funds and/or accounts that hold, collectively, approximately $2.3 billion in aggregate principal amount of uninsured Bonds, in addition to approximately $449 million in aggregate principal amount of insured Bonds. The members of the PREPA Ad Hoc Group and their bond holdings in PREPA are: Member Uninsured Bonds Insured Bonds ------- --------------- ------------- AllianceBernstein L.P. $170,415,000 $56,305,000 1345 Avenue of the Americas, New York, NY 10105 Aristeia Capital, L.L.C. $41,710,000 $0 One Greenwich Plaza, Suite 300, Greenwich, CT 06830 BNY Mellon Funds Trust $14,500,000 $0 201 Washington Street, 8th Floor, Boston, MA 02108 Capital Research and Management Co. $268,280,000 $51,040,000 333 South Hope Street, 54th Floor Los Angeles, CA 90404 Columbia Management Investment Advisers, LLC $56,975,000 $0 290 Congress Street, Boston, MA 02210 Delaware Management Company a series of Macquarie Investment Management Business Trust $161,190,000 $0 610 Market Street, Philadelphia PA 19106 Ellington Management Group, L.L.C. $23,255,000 $0 711 Third Avenue, New York, NY 10017 Goldman Sachs Asset Management LP $323,127,000 $148,607,000 200 West Street, New York, NY 10282 Invesco Advisers, Inc. $305,205,000 $125,290,000 225 Liberty Street New York, NY 10281 MacKay Shields LLC $608,545,000 $26,045,000 1345 Avenue of the Americas New York, NY 10105 Massachusetts Financial Services Company $145,060,000 $37,320,000 111 Huntington Avenue, Boston, MA 02199 RUSSELL INVESTMENT COMPANY $26,640,000 $3,980,000 1301 Second Avenue, 18th Floor Seattle, WA 98101 SIG Structured Products, LLC $3,250,000 $0 401 E. City Avenue, Suite 220 Bala Cynwyd, PA 19004 T. Rowe Price $151,120,000 $130,000 100 E. Pratt Street, BA 0754 Baltimore, MD 21202 Tower Bay Asset Management LP $23,460,000 $0 700 Canal Street, Ste 12E Stamford, CT 06902 PREPA Ad Hoc Group is represented by: MONSERRATE SIMONET & GIERBOLINI, LLC Dora L. Monserrate-Peñagarícano, Esq. Fernando J. Gierbolini-González, Esq. Richard J. Schell, Esq. 101 San Patricio Ave., Suite 1120 Guaynabo, PR 00968 Phone: (787) 620-5300 Facsimile: (787) 620-5305 Email: dmonserrate@msglawpr.com fgierbolini@msglawpr.com rschell@msglawpr.com - and - DECHERT LLP G. Eric Brunstad Jr., Esq. Stephen D. Zide, Esq. David A. Herman, Esq. 1095 Avenue of the Americas New York, NY 10036 Phone: (212) 698-3500 Facsimile: (212) 698-3599 Email: eric.brunstad@dechert.com stephen.zide@dechert.com david.herman@dechert.com About Puerto Rico Puerto Rico is a self-governing commonwealth in association with the United States. The chief of state is the President of the United States of America. The head of government is an elected Governor. There are two legislative chambers: the House of Representatives, 51 seats, and the Senate, 27 seats. The governor-elect is Ricardo Antonio "Ricky" Rossello Nevares, the son of former governor Pedro Rossello. In 2016, the U.S. Congress passed PROMESA, which, among other things, created the Financial Oversight and Management Board and imposed an automatic stay on creditor lawsuits against the government, which expired May 1, 2017. The members of the oversight board are: (i) Andrew G. Biggs, (ii) Jose B. Carrion III, (iii) Carlos M. Garcia, (iv) Arthur J. Gonzalez, (v) Jose R. Gonzalez, (vi) Ana. J. Matosantos, and (vii) David A. Skeel Jr. On May 3, 2017, the Commonwealth of Puerto Rico filed a petition for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act ("PROMESA"). The case is pending in the United States District Court for the District of Puerto Rico under case number 17-cv-01578. A copy of Puerto Rico's PROMESA petition is available at http://bankrupt.com/misc/17 01578-00001.pdf On May 5, 2017, the Puerto Rico Sales Tax Financing Corporation (COFINA) commenced a case under Title III of PROMESA (D.P.R. Case No. 17-01599). Joint administration has been sought for the Title III cases. On May 21, 2017, two more agencies -- Employees Retirement System of the Government of the Commonwealth of Puerto Rico and Puerto Rico Highways and Transportation Authority (Case Nos. 17-01685 and 17-01686) -- commenced Title III cases. U.S. Chief Justice John Roberts named U.S. District Judge Laura Taylor Swain to preside over the Title III cases. The Oversight Board has hired as advisors, Proskauer Rose LLP and O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose LLP; and Hermann D. Bauer, Esq., at O'Neill & Borges LLC are onboard as attorneys. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains the case Web site https://cases.primeclerk.com/puertorico Jones Day is serving as counsel to certain ERS bondholders. Paul Weiss is counsel to the Ad Hoc Group of Puerto Rico General Obligation Bondholders. PUREMEDY INC: Court Extends Cash Collateral Access to July 31 ------------------------------------------------------------- Puremedy, Inc. received another extension from the U.S. Bankruptcy Court for the Central District of California, Northern Division, to use cash collateral. The interim order authorized the company to use cash collateral until July 31 to pay operating expenses. The company is prohibited from paying salaries to principals prior to compliance with the Office of the U.S. Trustee's guidelines for insider compensation requests. The U.S. Small Business Administration and other creditors asserting liens will be granted a replacement lien on the company's assets with the same validity, extent, and priority as their pre-bankruptcy liens. As additional protection, SBA will continue to receive a monthly payment of $731. The monthly payment started last month. The next hearing is set for July 16. About Puremedy, Inc. Puremedy, Inc. creates and sells healing ointments and other herbal products made from certified organic or wild harvested and completely non-toxic ingredients. Puremedy filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 25-10156) on February 7, 2025, listing up to $50,000 in assets and up to $1 million in liabilities. Joan Siegel, president of Puremedy, signed the petition. Judge Ronald A. Clifford, III oversees the case. The Debtor is represented by: William C. Beall, Esq. Beall And Burkhardt, Apc Tel: 805-966-6774 Email: will@beallandburkhardt.com QSR STEEL: Court Extends Access to Cash Collateral Until May 31 --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Connecticut, Hartford Division, granted QSR Steel Corporation, LLC a two-month extension to use the cash collateral of its secured creditors. The sixth interim order signed by Judge James Tancredi authorized the company to use cash collateral from April 1 to May 31 to pay its expenses in accordance with its budget. The company's budget shows total disbursements of $790,763.44 for the interim period. As protection, Liberty Bank, First Citizens Bank & Trust Company, and Philadelphia Indemnity Insurance Company were granted replacement liens on QSR Steel's assets. In addition, Liberty Bank will receive monthly payments under its loan agreement with QSR Steel during the term of the sixth interim order. The next hearing is set for April 22. About QSR Steel Corporation QSR Steel Corporation, LLC is a one-stop, full service structural steel company based in Hartford, Conn., offering everything from steel buildings to stairs and railings. QSR Steel filed Chapter 11 petition (Bankr. D. Conn. Case No. 24-20562) on June 18, 2024, with $2,838,179 in assets and $2,124,057 in liabilities as of March 31, 2024. Glenn Salamone, a member of QSR Steel, signed the petition. Judge James J. Tancredi oversees the case. Irve J. Goldman, Esq., at Pullman & Comley, LLC is the Debtor's legal counsel. Liberty Bank, as secured creditor, is represented by: Linda c. Hadley, Esq. Gfeller Laurie, LLP West Hartford Center 977 Farmington Avenue, Suite 200 West Hartford, CT 06107 Phone: 860-760-8428/860-760-8400 Fax: 860-760-8401 lhadley@gllawgroup.com R&R TRAILERS: Seeks to Hire CBH Attorneys & Counselors as Attorney ------------------------------------------------------------------ R&R Trailers, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Michigan to employ CBH Attorneys & Counselors, PLLC, as attorneys. The firm's services include: a. providing information to Debtor with regard to its duties and responsibilities as required y the United State Bankruptcy Code of debtor-in-possession; b. assisting in the preparation of schedules and statement of affairs; c. drafting pleadings that are necessary or advisable to further the Debtor's goal of successfully obtaining confirmation of Chapter 11 Plan; d. researching legal issues that may arise during the course of Debtor's bankruptcy proceedings; e. pursuing and all claims of Debtors against third parties, including, but not limited to, preferences, fraudulent conveyances, and accounts receivable; f. representing Debtor with regard to any actions brought against it by third parties in the bankruptcy proceeding; g. assisting in the negotiations with secured, unsecured, and priority creditors; h. communicating with the United States Trustee's Office and Subchapter V Trustee; i. drafting a Plan of Reorganization with a likelihood of confirmation; and j. obtaining confirmation of a Plan of Reorganization. The firm will be paid at these rates: Partners or Senior Attorneys $400 per hour Associate Attorneys $300 per hour Paralegals $175 to $195 per hour The firm received from the Debtor a retainer of $21,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Steven L. Rayman, Esq., a partner at CBH Attorneys & Counselors, 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: Steven L. Rayman, Esq. CBH Attorneys & Counselors, PLC 141 East Michigan Avenue, Suite 301 Kalamazoo, MI 49007 Tel: (269) 345-5156 About R & R Trailers Inc. R & R Trailers, Inc. specializes in manufacturing American-made aluminum trailers for a variety of uses, including hauling cars, cargo, and recreational vehicles. Their trailers offer exceptional performance, reliability, and versatility, providing safe and efficient transportation for both work and leisure needs. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mich. Case No. 25-00318) on February 7, 2025. In the petition signed by Ross M. Daniels, shareholder and vice-president, the Debtor disclosed $276,910 in assets and $1,351,582 in liabilities. Judge Scott W. Dales oversees the case. Steven M. Bylenga, Esq., at CBH ATTORNEYS & COUNSELORS, PLLC, represent the Debtor as legal counsel. REALSYS USA: Section 341(a) Meeting of Creditors on May 28 ---------------------------------------------------------- On March 31, 2025, Realsys USA Inc., filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341 Meeting to be held on May 28, 2025 at 03:00 PM via Telephone conference. To attend, Dial 888-902-9750 and enter participation code 9635734. About Realsys USA Inc. Realsys USA Inc. is an investment company based in Atlanta, Georgia. The company, which operates as an investment company including hedge fund or pooled investment vehicle operations, reported assets and liabilities both in the range of $500,001 to $1 million. Realsys USA Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-53467) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million each. REBORN COFFEE: Rescinds Bbang Ssaem Share Purchase Deal ------------------------------------------------------- Reborn Coffee, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company and Bbang Ssaem Co. Ltd. (d/b/a Bbang Ssaem Bakery Cafe Korea) reached an agreement to rescind that certain share purchase dated November 6, 2024. The material terms of such Agreement were disclosed in the current report on Form 8-K filed by the Company with the Securities and Exchange Commission on January 2, 2025. As a result of such Recission, the Agreement is deemed void from the beginning. About Reborn Coffee Brea, Calif.-based Reborn Coffee, Inc. (NASDAQ: REBN) is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn believes they differentiate themselves from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing their coffee beans with a balance of precision and craft. For more information, please visit www.reborncoffee.com. Going Concern The Company cautioned in its Form 10-Q Report filed with the U.S. Securities and Exchange Commission for the quarterly period ended March 31, 2024, that substantial doubt exists about its ability to continue as a going concern. According to the Company, it had incurred a net comprehensive loss of $990,544 during the three months ended March 31, 2024, and has an accumulated deficit of $17,747,468 as of March 31, 2024. REKOR SYSTEMS: Reports Prelim Net loss of $61.5MM for 2024 ---------------------------------------------------------- Rekor Systems, Inc. provided insights into its preliminary year-end 2024 results and recent actions to improve financial performance by reducing the level of operating losses while positioning the Company for growth both domestically and internationally. Based on preliminary and unaudited financial results, full-year 2024 revenue is expected to be above $45.5 million, representing a year-over-year increase above 30% compared to 2023. Fourth-quarter 2024 revenue is projected to be above $12.5 million, reflecting growth above 12% compared to the same period last year. For the three months ended December 31, 2024, the Company reported a preliminary net loss of $20.4 million, compared to a net loss of $11.3 million. For the year ended December 31, 2024, the Company reported a preliminary net loss of $61.5 million compared to a net loss of $45.7 million for the same period in 2023. These preliminary results demonstrate the Company's continued progress in efficiently scaling operations while delivering increased value to customers and stockholders. The Q4 2024 results will reflect the impact of recent cost reduction efforts implemented beginning in November of 2024, including significant voluntary cash reductions in compensation by employees in exchange for equivalent equity awards valued under current market conditions. These cost reductions have focused on ensuring the Company's ability to provide high-level support for existing customers and maximize current cash flow while minimizing dependence on uncertain capital markets in the anticipated implementation of pending contracts. In early January 2025, the Company's Board of Directors established an Executive Committee to review operations, with an objective of strategic realignment of Company resources to focus on a go-to-market strategy to accelerate revenue growth and reduce dependence on outside capital. In this effort, there have been reductions in the workforce as well as realignment of executives in important roles with experience scaling companies globally while providing critical infrastructure products and services. These executives are expected to lead sales and operational resources to concentrate on the Rekor Scout line of products and services for public and commercial customers, as well as the Rekor Discover line of products for roadway data collection. On March 12, 2025, Rekor's President and CEO, David Desharnais, submitted his resignation, which has been accepted by the Company's Board of Directors. Interim CEO and Board Chairman Robert A. Berman said, "We thank David for his contributions and wish him the best of success in his future endeavors. The Board has taken steps to begin the search for a new CEO. The Executive Committee will continue to fulfill its role during the transition to ensure the Rekor team can realize global opportunities for our products and services." About Rekor Systems Rekor Systems, Inc., headquartered in Columbia, Md., is working to revolutionize public safety, urban mobility, and transportation management using AI-powered solutions designed to meet the distinct demands of each market it serves. The Company works hand-in-hand with its customers to deliver mission-critical traffic and engineering services that assist them in achieving their goals. The Company's vision is to improve the lives of citizens and the world around them by enabling safer, smarter, and greener roadways and communities. The Company works towards this by collecting, connecting, and organizing mobility data, and making it accessible and useful to its customers for real-time insights and decisioning for situational awareness, rapid response, risk mitigation, and predictive analytics for resource and infrastructure planning and reporting. East Hanover, N.J.-based Marcum LLP, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 25, 2024, citing that the Company has incurred significant losses and may need 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. RIDGELINE CAPITAL: Seeks to Hire Totaro & Shanahan as Counsel ------------------------------------------------------------- Ridgeline Capital Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of California to employ Totaro & Shanahan, LLP as counsel. The firm's services include: a. counseling of Debtor through meetings and phone calls, discussions concerning the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules, and the United States Trustee Guidelines; b. documenting preparation or amendments concerning the petition and schedules, status reports, review and consultation concerning Monthly Operating Reports, and personal attendance at all hearings; c. consulting with Debtor's representative concerning documents needed and reports to be prepared and consultation with real estate counsel re title and other issues; d. assisting Debtor in preparation of documents for compliance with the requirements of the Office of the United States Trustee; e. negotiating with secured and unsecured creditors regarding the amount and payment of their claims; f. discussing with Debtor's representative concerning the Disclosure Statement and plan of reorganization; g. preparing of the Disclosure Statement and Chapter 11 Plan of Reorganization and any amendments/changes to the same unless filed as a Sub-V case which does not require a disclosure statement; h. submitting of ballots to creditors, tally of ballots and submission to the Court; i. responding to any objections to disclosure statement and/or plan; j. negotiating with creditors as to values, etc., and the plan of reorganization; and k. responding to any motions for relief from stay, motions to dismiss or any other motions or contested matters. The firm will be paid at these rates: Attorney $550 per hour Paralegal $150 per hour The firm will be paid a retainer in the amount of $6,000, and $1,738 filing fee. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael R. Totaro, Esq., a partner at employ Totaro & Shanahan, 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: Michael R. Totaro, Esq. Totaro & Shanahan, LLP P.O. Box 789 Pacific Palisades, CA 90272 Telephone: (310) 804 2157 Email: Ocbatty@aol.com About Ridgeline Capital Investments, LLC Ridgeline Capital Investments LLC is the 70% owner of a single-family home located at 15955 Running Deer Trail, Poway, CA, 92064 valued at $3.1 million and another real property located at 45200 Oak Manor Ct., Temecula, CA 92590 having an appraised value of $4.3 million. Ridgeline Capital Investments LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-04715) on December 10, 2024. In the petition filed by Shaun Michael Reynolds, as managing member, the Debtor reports total assets of $7,400,200 and total liabilities of $3,424,907. The Debtor is represented by Michael R. Totaro, Esq. at TOTARO & SHANAHAN, LLP. RITE AID: Considers Second Ch. 11 Filing If It Misses Debt Payments ------------------------------------------------------------------- Rishabh Jaiswal of Reuters reports that Rite Aid, the U.S. pharmacy chain, is reportedly considering a potential second bankruptcy filing after its recent financial restructuring failed to ensure long-term stability, according to the Wall Street Journal. The company is also exploring the sale of some or all of its assets as a possible alternative to Chapter 11. If a sale does not occur, Rite Aid may need to close additional stores, the report noted. Rite Aid has not responded to Reuters' request for comment. Based in Pennsylvania, the company emerged from Chapter 11 bankruptcy last year, completing its financial restructuring and transitioning to a private entity. During this process, it shut down hundreds of stores, sold its pharmacy benefit management business, Elixir, and reached agreements with creditors and its drug distribution partner, McKesson, Reuters reports. Rite Aid filed for Chapter 11 protection in October 2023, reporting a $750 million loss and $24 billion in revenue for the fiscal year ending March 2023. At that time, it operated 2,000 pharmacies, the report states. About Rite Aid Corp. 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 Bankruptcy Code (Bankr. D.N.J. Lead Case No. 23-18993) on Oct. 15, 2023. In the petition signed by Jeffrey S. Stein, chief executive officer and chief restructuring officer, Rite Aid disclosed $7,650,418,000 in total assets and $8,597,866,000 in total liabilities. Judge Michael B. Kaplan oversees the cases. 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. RIVERSIDE COURT: Unsecureds Will Get 9% of Claims over 60 Months ---------------------------------------------------------------- The Riverside Court Condominium Association Phase II, Inc., filed with the U.S. Bankruptcy Court for the Eastern District of Louisiana a Plan of Reorganization dated March 10, 2025. The Debtor is a Louisiana non-profit corporation that was formed on March 2, 1984. It is the condominium association of The Riverside Court Condominiums located in Metairie, Louisiana. Riverside Court Condominium is a residential complex located at 6320 Riverside Drive (formerly Ackel Street), Metairie, Louisiana and consists of 198 condominium units. Ownership is divided into 25% owner-occupied units and 75% investor-owned rental units. Ownership percentages are based on the square footage of each unit relative to the total property. Currently, there are four units with state, local, or federal tax liens. The projected disposable income committed to this Plan is based on the average expenses of the Debtor from January 2024 through December 2024 and the anticipated line replacement costs. Projected income is based on post-petition condominium fees collected and additional amounts from special assessments. The projections contain an annual increase of two percent for condominium fees and expenses other than payroll. The Debtor recognizes that to go forward, the company will need to restructure the secured debt and reduce the amount paid to unsecured creditors. By reorganizing its secured and unsecured debt and replacing aging pipes that could leak in the near future producing unaffordable water and sewer bills, the Debtor has positioned itself to avoid further reorganization. The term of this Plan is five years, commencing after the Effective Date ("Commitment Period"). The final Plan payment is expected to be paid on April 1, 2030. This Plan of Reorganization proposes to pay creditors of the Debtor from future revenue. Class 2 consists of all non-priority unsecured claims. This Class shall be paid monthly commencing on the ninth month after the Effective Date and continuing through the sixtieth month after the Effective Date. The allowed unsecured claims total $880,725.79. This Class will receive a distribution of 9% of their allowed claims. Class 2 Claims shall be paid pursuant to the Payment Schedule: Month 9 - $2,365.10 Months 10-60 - $1,521.79/mo. Individual amounts are pro rata and based on the amount of each allowed claim. The proceeds from any avoidance actions or other litigation initiated by the Reorganized Debtor, after payment of any attorney fees and costs, will be paid to holders of allowed Class 2 Claims as additional distributions. Class 2 is impaired. This Plan will be funded by the fees and special assessments paid to the Debtor by the condominium owners. The Debtor anticipates that Nayanka Nero, who is an insider of the Debtor, will continue in her position as secretary of the Debtor. The compensation of Mrs. Nero will continue at the Court approved monthly salary of $7,474.14, plus cell phone ($50.00) and vehicle allowance ($308.00). The Debtor does not anticipate increasing the salaries of insiders in the foreseeable future. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=hntu4D from PacerMonitor.com at no charge. Counsel to the Debtor: Patrick S. Garrity, Esq. Derbes Law Firm, L.L.C. 3027 Ridgelake Drive Metairie, LA 70002 Telephone: (504) 207-0913 Facsimile: (504) 832-0327 Email: pgarrity@derbeslaw.com About The Riverside Court Condominium Association Phase II Inc. The Riverside Court Condominium Association Phase II, Inc. is a Louisiana non-profit corporation that was formed on March 2, 1984. It is the condominium association of The Riverside Court Condominiums located at 6320 Riverside Drive (formerly Ackel Street), Metairie, Louisiana, which contains 198 condominium units. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. E.D. La. Case No. 24-12410) on Dec. 9, 2024. In the petition signed by Nayanka Nero, secretary, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Meredith S. Grabill oversees the case. Patrick Garrity, Esq., at The Derbes Law Firm, LLC, represents the Debtor as legal counsel. ROCKY MOUNTAIN: Brian Quinn Joins Board of Directors ---------------------------------------------------- Rocky Mountain Chocolate Factory Inc. announced that Brian Quinn has been appointed to the Company's Board of Directors where he will serve on the Company's Nominating and Corporate Governance, Audit, and Compensation Committees. Mr. Quinn is an accomplished business leader with extensive experience in brand development, franchise expansion, and operational strategy. He currently serves as the Chief Development Officer of Sonesta International Hotels, where he has been instrumental in the company's rapid transformation, driving a strategic growth plan that expanded its footprint from less than 100 locations to over 1,000. He also played a key role in the $100 million acquisition of Red Lion Hotel Corporation, successfully launching nine new brands and resurrecting eight existing brands while leading Sonesta's first-ever North American franchising initiative. His expertise in franchising and market expansion is closely aligned with Rocky Mountain Chocolate's long-term vision to bolster its brand presence and invigorate franchise store growth through strategic expansion. "Brian brings a wealth of experience in franchising and consumer brand development, making him an excellent addition to our Board," said Jeff Geygan, Interim CEO of RMCF. "His track record of driving growth and strengthening franchise systems will be invaluable as we continue to execute on our growth initiatives and expand our store footprint." Mr. Quinn has held leadership positions at major hospitality and franchising companies, including Choice Hotels International, Red Lion Hotels, and InterContinental Hotels Group, where he played critical roles in revenue growth, franchise network development, and business transformation. He has also served on multiple industry boards, including the American Hotel & Lodging Foundation and Penn State University's Hospitality Program. Mr. Quinn holds a Bachelor of Business Administration degree from the University of South Florida and a Master of Business Administration from Saint Leo University. About Rocky Mountain Chocolate Factory Durango, Colo.-based Rocky Mountain Chocolate Factory, Inc. is an international franchisor, confectionery producer, and retail operator. Founded in 1981, the Company produces an extensive line of premium chocolate candies and other confectionery products. As of August 31, 2024, Rocky Mountain Chocolate Factory had $21.1 million in total assets, $10.6 million in total liabilities, and $10.5 million in total shareholders' equity. Going Concern In accordance with ASC 205-40, Going Concern, the Company's management has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the accompanying financial statements were issued. During the nine months ended November 30, 2024, the Company incurred a net loss of $3.2 million and used cash in operating activities of $7.8 million. Although the Company paid off the outstanding debt with Wells Fargo at maturity through the issuance of a $6.0 million note payable, the Company still has incurred losses and used cash from operating activities. These factors raise substantial doubts about the Company's ability to continue as a going concern within the next 12 months. ROSSLYN2016 LLC: Seeks Chapter 11 Bankruptcy in Texas ----------------------------------------------------- On March 31, 2025, ROSSLYN2016 LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About ROSSLYN2016 LLC ROSSLYN2016 LLC is the owner and operator of The Retreat on Rosslyn Apartments, a residential apartment complex located at 5801 North Houston Rosslyn Rd. in Houston, Texas. ROSSLYN2016 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. S.D. Tex. Case No. 25-31817) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by James Q. Pope, Esq. at The Pope Law Firm. RSTZ TRANSPORT: To Sell Trailer to Christopher Gebhardt for $15K ---------------------------------------------------------------- RSTZ Transport Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Gainesville Division, to sell 1997 Kentucky Drop Frame Trailer, free and clear of liens, interests, and encumbrances. The Debtor is a Georgia corporation and operates an over-the-road trucking business and its president, Richard Bethune, operates the business. There are no liens on the Asset and the Debtor believes that it is in the best interest of the Debtor's estate to sell the Asset. The Debtor estimated the fair market value of the Asset at approximately $20,000, and the Debtor has listed the Asset on Truck Trader, an independent commercial truck and trailer listing service. Christopher B. Gebhardt of Gebhardt Enterprises LLC is interested in buying the Asset for $15,000. The Asset will be sold free and clear of all liens, claims, and encumbrances. The Debtor believes that by selling the Asset directly to the purchaser, the Debtor will save the costs of sale, including commissions, and will be receiving fair market value, which will directly benefit its creditors. The Debtor also asserts that further efforts to market the Asset or sell the Asset at auction will result in any significant net increase to the estate, after accounting for the marketing costs and the costs of selling the Assets at auction. About RSTZ Transport Inc. RSTZ Transport Inc. is a Georgia-based corporation operating in the general freight trucking industry. RSTZ Transport filed Chapter 11 petition (Bankr. N.D. Ga. Case No. 25-20123) on January 31, 2025, listing total assets of $3,464,462 and total liabilities of $4,588,041. Judge James R. Sacca oversees the case. Ian Falcone, Esq., at The Falcone Law Firm, PC is the Debtor's bankruptcy counsel. SABAL CONSTRUCTION: Michael Markham Named Subchapter V Trustee -------------------------------------------------------------- The U.S. Trustee for Region 21 appointed Michael Markham, Esq., as Subchapter V trustee for Sabal Construction Incorporated. Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, LLP, will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Markham 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 C. Markham, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Email: Mikem@jpfirm.com About Sabal Construction Sabal Construction Incorporated is a veteran-owned and operated construction company based in Tampa, Florida, established in 2013. The Company specializes in luxury custom waterfront homes and light commercial projects. Sabal Construction sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01450) on March 10, 2025, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Galen Brent Hebert, president of Sabal Construction, signed the petition. Judge Catherine Peek Mcewen presides over the case. Jake C. Blanchard, Esq., at Blanchard Law, P.A. represents the Debtor as bankruptcy counsel. SABER AUTOMOTIVE: Unsecureds Will Get 18.9% over 36 Months ---------------------------------------------------------- Saber Automotive, LLC, filed with the U.S. Bankruptcy Court for the Central District of California a Plan of Reorganization for Small Business dated March 10, 2025. The Debtor is a Corporation. Since 2016, the Debtor has been in the business of refurbishing SUV's into off-road and armor vehicles. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of approximately $284,880.00. The final Plan payment is expected to be paid on the 36th month from the effective date of the Plan which will be the first of the month following the filing of the court order confirming the plan. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from refurbishing SUV's into Off-Road and Armor vehicles. Class 3 consists of non-priority unsecured creditors. There is one class of unsecured creditors who will be pad all of the disposable income for 36 months. The projected payment is 18.9% of the unsecured debt paid pro rata. This Class is impaired. Class 4 consists of equity security holders of the Debtor. The equity holders will retain their interest. Fardis Rezvani will continue as the managing member and also the disbursing agent. The Plan will be funded by new and current sales agreements and the continuation of the business of converting SUV's into off-road and armor vehicles. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=WaLHsB from PacerMonitor.com at no charge. Counsel to the Debtor: Michael R. Totaro, Esq. Totaro & Shanahan, LLP P.O. Box 789 Pacific Palisades, CA 90272 Telephone: (310) 804 2157 Email: Ocbatty@aol.com About Saber Automotive Saber Automotive LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-13090) on Dec. 2, 2024. In the petition filed by Fardis Rezvani, as managing member, the Debtor reports total assets of $32,500 and total liabilities of $1,347,548. The Debtor is represented by Michael R. Totaro, Esq. at TOTARO & SHANAHAN, LLP. SAIPRASAD LLC: Seeks Subchapter V Bankruptcy in Texas ----------------------------------------------------- On March 31, 2025, Saiprasad LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Saiprasad LLC Saiprasad LLC is a hospitality company that owns and operates the Lotus Inn (Fireside Inn), a budget-friendly motel located in San Antonio, Texas. Saiprasad LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex.Case No. 25-50705) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Craig A. Gargotta handles the case. The Debtor is represented by Joyce W. Lindauer, Esq. at JOYCE W. LINDAUER ATTORNEY, PLLC. SAN FRANCISCO CARE: Hires Meyers Law Group as Replacement Counsel ----------------------------------------------------------------- San Francisco Care Center, LP seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Meyers Law Group, P.C. as replacement counsel. Th firm will render these services: a. prepare and file motions and applications as needed during the course of administration of the chapter 11 case; b. advice and consultation, and if appropriate, document preparation and negotiation, with respect to any chapter 11 plan of reorganization or liquidation, and any amendments thereto, or other disposition of the case; c. prepare and prosecute a motion for authority to sell estate property pursuant to Section 363(b) of the Bankruptcy Code; d. review of claims, and objections thereto, if appropriate; and e. such other matters that exist or may arise in the course of this chapter 11 case. Meyers Law presently charges $820 per hour for services of Merle C. Meyers, Esq., and $580 per hour for its current associate's services. Merle C. Meyers, principal at of Meyers Law, attests 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: Merle C. Meyers, Esq. MEYERS LAW GROUP, P.C. 100 Shoreline Highway, Ste. B-160 Mill Valley, CA 94941 Tel: (415) 362-7500 Fax: (415) 362-7515 Email: mmeyers@meyerslawgroup.com About San Francisco Care Center San Francisco Care Center, LP owns and operates a residential care and memory facility for the elderly, with patients ranging in age from 80 to 100 years old. The Debtor provides services to assist residents with their daily activities, such as feeding, bathing, dressing, medication management, toileting and mobility support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-30025) on January 14, 2025. In the petition signed by Teresa Wong, managing partner, the Debtor disclosed up to $50 million in both assets and liabilities. The Debtor is represented by Sarah M. Stuppi, Esq. at Law Offices Of Stuppi And Stuppi. SAN FRANCISCO CARE: Hires Peterson Watts as Real Estate Counsel --------------------------------------------------------------- San Francisco Care Center, LP seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Peterson Watts Law Group, LLP as special real estate counsel. The firm will assist the Debtor in negotiating and documenting any sale of the real property located at 1035 Van Ness Avenue, San Francisco, CA 94109. Richard M. Watts is a partner of PW and has agreed to be primarily responsible for the firm's representation of the Debtor. Peterson Watts presently charges $500 per hour for Mr. Watts' services. As disclosed in the court filings, Peterson Watts Law Group is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Richard M. Watts, Esq. Peterson Watts Law Group, LLP 2267 Lava Ridge Court, Suite 210 Roseville, CA 95661 Tel: (916) 999-7638 Fax: (916) 780-8775 Email: rwatts@petersonwatts.com About San Francisco Care Center San Francisco Care Center, LP owns and operates a residential care and memory facility for the elderly, with patients ranging in age from 80 to 100 years old. The Debtor provides services to assist residents with their daily activities, such as feeding, bathing, dressing, medication management, toileting and mobility support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-30025) on January 14, 2025. In the petition signed by Teresa Wong, managing partner, the Debtor disclosed up to $50 million in both assets and liabilities. The Debtor is represented by Sarah M. Stuppi, Esq. at Law Offices Of Stuppi And Stuppi. SARVER REALTY: Seeks to Hire Newmark Southern Region as Broker -------------------------------------------------------------- Sarver Realty Andre Plaza, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Newmark Southern Region, LLC as broker. Newmark will assist the estate in the sale of the office building located on McKnight Road, Pittsburgh, PA 15237. Newmark will receive a commission of 5 percent of the purchase price, if co-brokered, or 4.5 percent if Newmark Southern Region, LLC is the only broker involved. Newmark Southern Region, LLC is a "disinterested" person within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: David Dolan Newmark Southern Region, LLC 2005 Market Street, Suite 900 Philadelphia, PA 19103 Phone: (215) 246-2738 Email: David.Dolan@nmrk.com About Sarver Realty Andre Plaza Sarver Realty Andre Plaza LLC is a single-asset real estate company based in Pittsburgh, PA. Sarver Realty Andre Plaza LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-20017) on January 3, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Ryan J. Cooney, Esq., at Cooney Law Offices LLC represents the Debtor as counsel. SEABIRDS KITCHEN: Seeks to Hire S. E. Cowen Law as Legal Counsel ---------------------------------------------------------------- Seabirds Kitchen, LLC received approval from the U.S. Bankruptcy Court for the Central District of California to hire S. E. Cowen Law as bankruptcy counsel. The firm will represent the Debtor through all stages of the Chapter 11 Subchapter V process with an anticipated confirmation of a Plan of Reorganization within six months. The hourly rates of the firm's counsel are: Steven E. Cowen, Attorney $350 Christian E. Cowen, Paraprofessional $150 In addition, the firm will seek reimbursement for expenses incurred. Mr. Cowen 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: Steven E. Cowen, Esq. S. E. Cowen Law 333 H Street, 5th Floor Chula Vista, CA 91910 Telephone: (619) 202â€“7511 Facsimile: (619) 233â€“3327 Email: Cowen.steve@secowenlaw.com About Seabirds Kitchen Seabirds Kitchen, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-10460) on February 24, 2025, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Arturo Cisneros serves as Subchapter V trustee. Judge Scott C. Clarkson presides over the case. The Debtor is represented by Steven E. Cowen, Esq. at S.E. Cowen Law. SEBASTIAN HABIB: To Sell 23 Parcels of Land at Public Auction ------------------------------------------------------------- Sebastian Habib, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to sell Property in a public Auction, free and clear of all liens, interests, and encumbrances. The Debtor's Property is located at 567 Center Hill Avenue NW, Atlanta, GA 30318 and the 25 parcels of the Debtor's real estate portfolio. The Court previously entered orders authorizing the Debtor to sell the Property, however, the buyers of the respective properties have terminated the sale contracts and none of the sales contemplated in those orders have closed. The Debtor proposes to sell the real property by online public auction. The Debtor engages into an auction agreement with Seven Hills Auctions, LLC to sell 23 parcels of real property to the general public by online auction on May 19, 2025. The Debtor agrees to pay $17,092.00 fee to Auctioneer for costs of marketing. The agreement also provides for a buyer's premium of 10% shall be charged to the successful bidder's high bid. Debtor will pay the Auctioneer a commission fee for the sale of each property consisting of the buyer's premium. The Agreement provides that the successful purchaser with the highest bid must pay the earnest money at the close of the Auction. The closing of each sale will be conducted by the law firm Sherman & Phalen, LLC, in Marietta, Georgia, and the buyer is responsible for all closing costs, less pro-rated taxes and/ or association dues. In setting the reserve price for these properties, Mohammad Hariri, the Debtor's owner and single-member, evaluated the estimated sale price of each property on the real estate marketplace website Zillow.com and set the reserve price based on the Zillow estimate, the condition of each property, as well as his knowledge and experience in operating the Debtor since 2015. The list of properties, the reserve price, and the associated secured liens are as follows: a. 1758 Dunlap Avenue, East Point, Georgia 30344 to be sold with a reserve price of $180,000.00. Currently, the only outstanding lien on 1758 Dunlap is held by U.S. Bank N.A. as Trustee in the amount of $109,758.314. b. 2701 Flintlock Place, Austell, Georgia 30106 to be sold with a reserve price of $180,000.00. Currently, the only outstanding liens on 2701 Flintlock are held by the U.S. Bank in the amount of $109,758.31; and Sweetwater Valley Condominium Association Inc. in the amount of $4,555.64. c. 5038 Austell Powder Springs Road, Austell, Georgia 30106 to be sold with a reserve price of $220,000.00. Currently the only outstanding lien on 5038 Austell is held by U.S. Bank in the amount of $122,904.515. d. 5034 Austell Powder Springs Road, Austell, Georgia 30106 to be sold with a reserve price of $235,000.00. Currently, the only outstanding lien on 5034 Austell is held by U.S. Bank in the amount of $122,904.51. e. 2764 Whitewater Court, Austell, Georgia 30106 to be sold with a reserve price of $175,000.00. Currently, the only outstanding liens on 2764 Whitewater are held by the U.S. Bank in the amount of $122,904.51; and Sweetwater in the amount of $7,985.52. f. 2324 Nelms Drive SW, Atlanta, Georgia 30315 to be sold with a reserve price of $210,000.00. Currently, the only outstanding lien on 2324 Nelms Drive is held by Wilmington Savings Fund Society, FSB in the amount of $105,000.00. g. 2231 Nelms Drive SW, Atlanta, Georgia 30315 to be sold with a reserve price of $175,000.00. Currently, the only outstanding lien on 2231 Nelms Drive is held by Wilmington Savings in the amount of $79,779.81. h. 1744 Nathan Lane, Austell, Georgia 30106 to be sold with a reserve price of $290,000.00. Currently, the only outstanding lien on 1744 Nathan Lane is held by Wilmington Savings in the amount of $173,275.64. i. 6286 Lobelia Drive, Mableton, Georgia 30126 to be sold with a reserve price of $190,000.00. Currently, the only outstanding lien on 6286 Lobelia is held by Wilmington Savings in the amount of $102,363.55. j. 567 Center Hill Avenue NW, Atlanta, Georgia 30318 to be sold with a reserve price of $230,000.00. Currently, the only outstanding lien on 567 Center Hill is held by Wilmington Savings in the amount of $134,923.05. k. 950 Lake Drive, Snellville, Georgia 30039 to be sold with a reserve price of $375,000.00. Currently, the only outstanding liens on 950 Lake Drive are held by Wilmington Savings in the amount of $280,695.79; and Norris Lake Community Benefits Corporation in the amount of $1,813.80. l. 2206 Clay Road, Austell, Georgia 30106 to be sold with a reserve price of $199,000.00. Currently, the only outstanding lien on 2206 Clay Road is held by Wilmington Savings in the amount of $102,034.85. m. 865 Old Rocky Road SW, College Park, Georgia 30349 to be sold with a reserve price of $230,000.00. Currently, the only outstanding lien on 865 Old Rocky Road is held by Wilmington Savings in the amount of $151,242.58. n. 1905 Connally Drive, East Point, Georgia 30344 to be sold with a reserve price of $180,000.00. Currently, the only outstanding lien on 1905 Connally is held by Wilmington Savings in the amount of $100,000.00. o. 7085 Winkfield Place, College Park, Georgia 30349 to be sold with a reserve price of $200,000.00. Currently, the only outstanding lien on 7085 Winkfield is held by Wilmington Savings in the amount of $100,000.00. p. 2610 Northfield Court, College Park, Georgia 30349 to be sold with a reserve price of $200,000.00. Currently, the only outstanding lien on 2610 Northfield is held by Wilmington Savings in the amount of $100,000.00. q. 2274 Nelms Drive SW, Atlanta, Georgia 30315 to be sold with a reserve price of $220,000.00. Currently, the only outstanding lien on 2274 Nelms Drive is held by Wilmington Savings in the amount of $167,626.25. r. 6405 Kensington Court, Austell, Georgia 30106 to be sold with a reserve price of $240,000.00. Currently, the only outstanding lien on 6405 Kensington is held by Lima One Capital, LLC in the amount of $128,840.70. s. 6240 Humphries Hill Road, Austell, Georgia 30106 to be sold with a reserve price of $195,000.00. Currently, the only outstanding lien on 6240 Humphries Hill is held by Lima One in the amount of $118,798.09. t. 2330 Nelms Drive SW, Atlanta, Georgia 30315 to be sold with a reserve price of $220,000.00. Currently, the only outstanding lien on 2330 Nelms Drive is held by Toorak Capital Partners, LLC in the amount of $100,000.00. u. 3655 Sulene Drive, College Park, Georgia 30349 to be sold with a reserve price of $250,000.00. Currently, the only outstanding lien on 3655 Sulene is held by Goldman Sachs Mortgage Company in the amount of $170,000.00. v. 4140 Huntcliff Drive, Woodstock, Georgia 30189 to be sold with a reserve price of $360,000.00. Currently, the only outstanding lien on 4140 Huntcliff is held by Goldman Sachs in the amount of $260,000.00. w. 2318 Nelms Drive SW, Atlanta, Georgia 30315 to be sold with a reserve price of $185,000.00. Currently, the only outstanding lien on 2318 Nelms Drive is held by Churchill Funding I, LLC in the amount of $120,000.00. The Debtor believes that the Agreement is the best and most viable option for the Debtor to maximize value in an efficient manner. For each individual property, the Reserve Price is greater than the aggregate value of all liens on said property. The total Reserve Price for all of the Properties contemplated in the Agreement is greater than the aggregate value of all liens on the Properties. The total Reserve Price for the Properties is $5,139,000.00. Per the Schedules and Claims Register, the total secured debt on Debtor's Properties totals $3,097,165.42. In addition, there is $133,713.96 in unsecured debt which should allow for creditors to be paid 100%. Consequently, the sale set out in the Agreement is in the best interests of Debtor and all lienholders. The Auction is within the sound business judgment of the Debtors it would remove significant liability from the estate. About Sebastian Habib, LLC Sebastian Habib LLC is a domestic limited liability company headquartered in Woodstock, Georgia. Sebastian Habib LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-50148) on January 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lisa Ritchey Craig handles the case. Adam E. Ekbom, Esq. of Jones & Walden LLC represents the Debtor as counsel. SHAHINAZ SOLIMAN: Seeks Chapter 11 Bankruptcy in California ----------------------------------------------------------- On April 2, 2025, Shahinaz Soliman Clinic Corp. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Shahinaz Soliman Clinic Corp. Shahinaz Soliman Clinic Corp., dba Soliman Care Family Practice Center Inc., is a family practice health center that offers comprehensive healthcare services for individuals of all ages, from pediatrics to geriatrics. The clinic specializes in both acute and chronic care, focusing on prevention, diagnosis, and holistic treatment. Led by Dr. Shahinaz Soliman, the center is committed to providing compassionate, culturally competent, and patient-centered care to the community. Shahinaz Soliman Clinic Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No.: 25-12747) on April 2, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Barry Russell handles the case. The Debtor is represented by Michael Jay Berger, Esq. at LAW OFFICES OF MICHAEL JAY BERGER. SHENANDOAH MEDICAL: Hires Moecker Auctions as Valuation Experts --------------------------------------------------------------- Shenandoah Medical Care Center, LLC received approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Moecker Auctions, Inc. to value its medical equipment. The firm will be paid at these rates: On-site inspection, research and valuation: $200/per hour Travel: $75/per hour Michael Shirinian, an appraiser at Moecker Auctions, 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: Michael Shirinian Moecker Auctions, Inc. 1885 Marina Mile Blvd., Suite 103 Fort Lauderdale, FL 33315 Phone: (954) 252-2887 Fax: (954) 252-2791 About Shenandoah Medical Care Center, LLC Shenandoah Medical Care Center, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-23207) on December 18, 2024, with $500,001 to $1 million in both assets and liabilities. Joy Mowett-Fuller, company owner and manager, signed the petition. Judge Erik P. Kimball oversees the case. Monique Hayes, Esq., at DGIM Law, PLLC, represents the Debtor as bankruptcy counsel. SINTX TECHNOLOGIES: Reports $11 Million Net Loss in 2024 -------------------------------------------------------- SINTX Technologies, Inc. filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission. According to the Company, it has incurred substantial net losses since inception. For the years ended December 31, 2024 and 2023, the Company incurred a net loss of $11 million and $8.3 million, respectively, and used cash in operations of $8.6 million and $14.1 million, respectively. It had an accumulated deficit of $281.7 and $270.7 million as of December 31, 2024 and 2023 respectively. SINTX said, "Our losses have resulted principally from costs incurred in connection with our sales and marketing activities, research and development activities, manufacturing activities, general and administrative expenses associated with our operations, impairments on intangible assets and property and equipment, interest expense, loss on extinguishment of debt and offering costs. Even if we are successful in launching new products into the market, we expect to continue to incur substantial losses for the foreseeable future as we continue to manufacture products for CTL Medical and other OEM customers and research and develop and seek regulatory approvals for our product candidates. "If sales revenue from any of our products or product candidates that receive marketing clearance from the FDA or other regulatory body is insufficient, if we are unable to develop and commercialize any of our product candidates, or if our product development is delayed, we may never become profitable. Even if we do become profitable, we may be unable to sustain or increase our profitability on a quarterly or annual basis." To date, the Company's operations have been principally financed from proceeds from the issuance of preferred and common stock and, to a lesser extent, cash generated from product sales. It is anticipated that the Company will continue to generate operating losses and use cash in operations. The Company's continuation as a going concern is dependent upon its ability to increase sales, decrease expenses and/ raise additional funding. Whether and when the Company can attain profitability and positive cash flows from operations or obtain additional financing is uncertain. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/55ac3fpk About SINTX Technologies Headquartered in Salt Lake City, Utah, SINTX Technologies, Inc. -- https://ir.sintx.com/ -- is an advanced ceramics company that develops and commercializes materials, components, and technologies for biomedical, technical, and antipathogenic applications. The core strength of SINTX Technologies is the manufacturing, research, and development of advanced ceramics for external partners. As of December 31, 2024, the Company had $9.4 million in total assets, $5.5 million in total liabilities, and $3.9 million in total stockholders' equity. SNP ENTERPRISES: Hires Robert C. Nisenson as Bankruptcy Counsel --------------------------------------------------------------- SNP Enterprises LLC received approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Robert C. Nisenson, LLC to handle its Chapter 11 bankruptcy proceedings. The firm will be paid at the hourly rate of $400. It will be paid a retainer in the amount of $3,000 and $1,717 for filing fees. Robert C. Nisenson will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert C. Nisenson, the firm's founding partner, 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. Robert C. Nisenson can be reached at: Robert C. Nisenson, Esq. ROBERT C. NISENSON, LLC 10 Auer Court East Brunswick, NJ 08816 Tel: (732) 238-8777 Email: r.nisenson@rcn-law.com About SNP Enterprises LLC SNP Enterprises LLC' principal assets are located at 40 Reeds Road, Tinton Falls, NJ 07724. SNP Enterprises LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-12586) on March 13, 2025. In its petition, the Debtor reports total assets of $1,572,715 and total liabilities of $1,096,158 Honorable Bankruptcy Judge Mark Edward Hall handles the case. The Debtor is represented by Robert Nisenson, Esq., at ROBERT C. NISENSON. SOLAR EXCLUSIVE: Hires Larson & Zirzow as Bankruptcy Counsel ------------------------------------------------------------ Solar Exclusive, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to hire Larson & Zirzow, LLC as its bankruptcy counsel. The firm will render these services: (a) prepare on behalf of the Debtor, as debtor in possession, all necessary or appropriate motions, applications, answers, orders, reports, and other papers in connection with the administration of the Debtor's bankruptcy estate; (b) take all necessary or appropriate actions in connection with a plan of reorganization and all related documents, and such further actions as may be required in connection with the administration of the Debtor's estate; (c) take all necessary actions to protect and preserve the Debtor's estate including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor are involved, and the preparation of objections to claims filed against the Debtor' estate; and (d) perform all other necessary legal services in connection with the prosecution of the Chapter 11 Case. The firm will be paid at these hourly rates: Zachariah Larson, Esq., Principal $650 Benjamin Chambliss, Esq., Associate Attorney $500 Patricia Huelsman, Paralegal $295 In addition, the firm will seek reimbursement for expenses incurred. Larson & Zirzow received a pre-petition retainer in the amount of $35,000. Mr. Zirzow 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: Matthew C. Zirzow, Esq. Larson & Zirzow, LLC 850 E. Bonneville Ave. Las Vegas, NV 89101 Tel: (702) 382-1170 Fax: (702) 382-1169 Email: mzirzow@lzlawnv.com About Solar Exclusive, LLC Solar Exclusive, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 25-10950) on February 21, 2025, listing $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Judge August B Landis presides over the case. Matthew C. Zirzow, Esq. at Larson And Zirzow, LLC represents the Debtor as counsel. SOUTH STREET: LRFC Marks $450,000 Senior Secured Debt at 15% Off ---------------------------------------------------------------- Logan Ridge Finance Corp. has marked its $450,000 loan extended to South Street Securities Holdings Inc. to market at $384,000 or 85% of the outstanding amount, according to LRFC's Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission. LRFC is a participant in a First Lien/Senior Secured Debt to South Street Securities Holdings Inc. The debt accrues interest at a rate of 9% per annum. The debt matures on September 20, 2027. LRFC is an externally managed non-diversified closed-end management investment company incorporated in Maryland that has elected to be regulated as a business development company under the Investment Company Act of 1940. It is managed by Mount Logan Management LLC, an investment adviser that is registered as an investment adviser under the Investment Advisers Act of 1940, and BC Partners Management LLC, which provides the administrative services necessary for it to operate. LRFC may invest in first lien loans, which have a first priority security interest in all or some of the borrower's assets. In addition, its first lien loans may include positions in "stretch" senior secured loans, also referred to as "unitranche" loans, which combine characteristics of traditional first lien senior secured loans and second lien loans, providing it with greater influence and security in the primary collateral of a borrower and potentially mitigating loss of principal should a borrower default. LRFC may also invest in second lien loans, which have a second priority security interest in all or substantially all of the borrower's assets. In addition to debt securities, it may acquire equity or detachable equity-related interests (including warrants) from a borrower. It also intends to target investments that mature in four to six years from its investment. The Fund is led by Ted Goldthorpe as chief executive officer and president; Brandon Satoren as chief financial officer, and Alexander Duka as director. The company can be reached through: Logan Ridge Finance Corp. 650 Madison Avenue, 3rd Floor New York, New York 10022 Telephone: (212) 891-2880 About South Street Securities Holdings Inc. South Street Securities Holdings was established in March 2001. It operates through its wholly owned subsidiaries, including, South Street Securities LLC, a repo dealer financing US Treasuries, Agency MBS, TBA mortgage origination hedging and equity finance, Matrix Applications, LLC, a technology and back-office services company, South Street Capital Management, LLC, an asset management company, and AmeriVet Securities, Inc., a service-disabled veteran and minority owned broker dealer. SOUTHERN WAY: Property Sale Proceeds to Fund Plan Payments ---------------------------------------------------------- Southern Way Trucking Company, LLC filed with the U.S. Bankruptcy Court for the Northern District of Mississippi a Subchapter V Plan of Liquidation dated March 10, 2025. The Debtor's principal, Phillip Lockhart, has been involved in the trucking business for a number of years. When times were good, the Debtor was profitable and, in fact, times were so good that Mr. Lockhart decided to expand the number of trucks and trailers the Debtor was utilizing and the number of employees as well. Unfortunately, as is evident from the number of bankruptcy filing by truckers and the trucking industry, rates for hauling took a nose dive, came back close to breaking even and then took another nose dive. They have not stabilized, post-petition. Certain of the Debtor's most valuable assets are free and clear of liens and the Debtor has gone about the business of liquidating those. The remaining Secured Claims will be paid by a transfer of the collateral to the various Secured Creditors with the exception of the 2023 Grasshopper 300VEFI Zero Turn Lawnmower which will be abandoned. Any cash received from the sale of assets will be distributed to the Unsecured Creditors, based upon the priorities of the Bankruptcy Code on a pro-rata basis to the extent the classes of claims involved cannot be paid in full. Class 5 consists of General Unsecured Creditors. The Bankruptcy Code requires the Debtor to promise to pay to Unsecured Creditors its projected disposable income. In liquidation settings such as this case, the Debtor will pay projected disposable income that will be determined by the amount of sales proceeds the Debtor receives from the sale of property that is free and clear of liens, after deductions of payments to administrative expense and priority claimants. The administrative expense claims and the priority claims have not yet been fully determined, although, based upon the schedules filed in this case, there are no priority claims. The Debtor's equity security holder will maintain his ownership of the Debtor. The Plan will be funded by receipts of property sold free and clear of liens that will be used to pay administrative and priority claims and then, with whatever is left over, payment to unsecured creditors will be made on a pro-rata basis. In addition, the Plan will be funded, with respect to Classes 3.1, 3.2, and 4, with either transferred collateral to the various secured creditors and/or sale of the collateral to the Debtor's principal with debt assumption. A full-text copy of the Liquidating Plan dated March 10, 2025 is available at https://urlcurt.com/u?l=tYHjnX from PacerMonitor.com at no charge. Southern Way Trucking Company is represented by: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: 601-427-0048 E-mail: cmgeno@cmgenolaw.com About Southern Way Trucking Company Southern Way Trucking Company, LLC operates in the general freight trucking industry. The company is based in Armory, Miss. Southern Way Trucking Company sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Miss. Case No. 24-13299) on October 21, 2024, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Phillip Lockhart, managing member, signed the petition. The Debtor is represented by Craig M. Geno, Esq., at the Law Offices of Craig M. Geno, PLLC. SPICEY PARTNERS: Seeks to Extend Plan Exclusivity to July 14 ------------------------------------------------------------ Spicey Partners Real Estate Holdings, LLC and Cosmed Group, Inc. asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 14 and September 10, 2025, respectively. The Debtors explain that these Chapter 11 Cases are complex because the companies operate in a regulated industry, are facing hundreds of ethylene oxide ("EtO") cancer-related lawsuits against the Debtors, and are implementing a Sale Process. The Debtors obtained approval of a senior secured, superpriority debtor-in-possession credit facility from Zimmer Inc. (the "DIP Lender") for the provision of $7.5 million in new money, which was essential to allowing the Debtors the ability to operate in the early stages of these Chapter 11 Cases and avoid irreparable harm to the Debtors' estates. In addition, the instant Chapter 11 Cases are indisputably of the size and complexity that Congress and courts have recognized warrant extensions of the Exclusive Periods. The brief time that has elapsed during these cases, and the progress the Debtors have made to date, support the relief requested in this Motion. Accordingly, the Debtors' size and the complexity of these Chapter 11 Cases, and the breadth of financial and legal issues involved therein, warrant the requested extension of the Exclusive Periods. The Debtors claim that formulating a viable chapter 11 plan that will inure to the benefit of their estates, creditors, and stakeholders, is primarily predicated on the results of the Sale Process. Providing the Debtors with the time needed ensures that decisions are not hastily made without the benefit of adequate information, and that the considerable progress already achieved is not thwarted. The Debtors submit that an extension of the Exclusive Periods is necessary to permit the Debtors to progress such important tasks without the threat of a competing chapter 11 plan, and the distraction that could result therefrom. The Debtors cite that expiration of the Exclusive Periods would result in the Debtors having to immediately and prematurely seek confirmation of a chapter 11 plan or face the prospect of litigation concerning competing plans. Each of these alternatives is inconsistent with the purposes of section 1121 of the Bankruptcy Code, which is to allow the debtor sufficient time and flexibility to negotiate with its creditors without interference from other parties in interest. The Debtors assert that they are not seeking an extension of the Exclusive Periods as a negotiation tactic, to artificially delay the conclusion of these Chapter 11 Cases, or to hold creditors hostage to an unsatisfactory plan proposal. Rather, the Debtors seek an extension of exclusivity so that they have sufficient time to negotiate with their creditors and formulate a viable chapter 11 plan and adequate disclosure regarding same. The Debtors further assert that this is their first request to extend the Exclusive Periods, and it comes only a few months after the commencement these cases. All stakeholders benefit from the continued stability and predictability that comes with the Debtors being the sole potential plan proponents. Moreover, even if the Court approves the Debtors' modest extension of the Exclusive Periods, all parties' rights to oppose plan confirmation remain in place. Further, an extension of the Exclusive Periods will not prejudice the Debtors' stakeholders. On the contrary, an extension of the Exclusive Periods will enable the Debtors to continue their Sale Process without the distraction of a competing chapter 11 plan, which will form the foundation for constructive negotiations with stakeholders over a chapter 11 plan and stakeholder recoveries. The Debtors' Counsel: David R. Eastlake, Esq. Emily Nasir, Esq. GREENBERG TRAURIG, LLP 1000 Louisiana Street, Suite 6700 Houston, Texas 77002 Tel: 713-374-3500 Email: David.Eastlake@gtlaw.com Emily.Nasir@gtlaw.com - and - Nancy A. Peterman, Esq. Danny Duerdoth, Esq. GREENBERG TRAURIG, LLP 77 West Wacker Drive, Suite 3100 Chicago, Illinois 60601 Telephone: (312) 456-8400 Facsimile:(312) 456-8435 Emails: PetermanN@gtlaw.com DuerdothD@gtlaw.com - and - Joseph P. Davis III, Esq. GREENBERG TRAURIG, LLP One International Place, Suite 2000 Boston, Massachusetts 02110 Telephone: (617) 310-6204 Facsimile: (617) 279-8403 Email: Davisjo@gtlaw.com About Spicey Partners Real Estate Holdings Spicey Partners Real Estate Holdings, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. Case No. 24-90572) on Nov. 15, 2024, listing $10 million to $50 million in assets and $100 million to $500 million in liabilities. The petitions were signed by David G. Howe as chief operating officer. Judge Christopher M Lopez presides over the case. David Robert Eastlake, Esq. at Greenberg Traurig, LLP represents the Debtor as counsel. SPLASHLIGHT HOLDING: Hires Dunning Rievman as Litigation Counsel ---------------------------------------------------------------- Splashlight Holding LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Dunning Rievman & MacDonald LLP as special litigation counsel. The firm will assist the Debtor with respect to the litigation commenced against Boathouse Capital II LP, Boathouse Capital III LP, Boathouse Capital III Management LLC, Chong Moua, Brian Cook and such other parties as may be added as defendants by the Debtor on or about March 4, 2025, in the United States Bankruptcy Court for the Southern District of New York, Adv. Pro. #25-01038 (LGB). The firm can be reached through: senior partners US$ 865 per hour junior partners US$ 795 per hour of counsel US$ 795 per hour associates US$ 350 and US$ 575 per hour legal assistants US$ 225 per hour The firm received a retainer of US$ 80,000. As disclosed in the court filings, the attorneys in Goetz Platzer are disinterested as such term is defined in Sec. 101(14) of the Bankruptcy Code. Brian Dunning, Esq. Dunning Rievman & MacDonald LLP 1350 Broadway, Suite 2220 New York, NY 10018 Email: bdunning@drmlaw.com About Splashlight Holding LLC Splashlight Holding LLC is the majority equity holder of several operating companies, including Splashlight LLC, Mahogany Fine Foods and Catering LLC, Splashlight Photographic & Digital Studios LLC, and Splashlight Technologies LLC. The Debtor, through Splashlight LLC and Splashlight Photographic & Digital Studios LLC, provides comprehensive production services for still and film shoots, both in-studio in New York City and on-location. Their specialties include directing, casting, production, and post-production across various media formats, including film, print, and digital platforms. Additionally, its subsidiary, Mahogany Fine Foods and Catering, provides catering and 1hospitality services to Splashlight and Splashlight Photographic & Digital Studios clients. Splashlight Holding LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10277) on February 12, 2025. In its petition, the Debtor reports total assets of $38,979,766 and total liabilities of $54,493,305. Honorable Bankruptcy Judge Lisa G. Beckerman handles the case. The Debtor is represented by Scott Simon, Esq. at GOETZ PLATZER LLP. SPLASHLIGHT HOLDING: Hires Goetz Platzer LLP as Bankruptcy Counsel ------------------------------------------------------------------ Splashlight Holding LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Goetz Platzer LLP as bankruptcy counsel. The firm will render these services: a. assist and advise the Debtor regarding the administration of this case; b. represent the Debtor before the Court and advise the Debtor of pending litigation, hearings, motions, and of the decisions of the Court; c. assist and analyze all applications, orders, and motions filed with the Court by third parties in this case and advise the Debtor; d. attend all hearings conducted pursuant to Sec. 341(a) of the Bankruptcy Code and represent the Debtor at all examinations; e. communicate with creditors; f. assist the Debtor in preparing applications and orders in support of positions taken by the Debtor, as well as prepare witnesses and review documents in this regard; g. confer with any accountants, brokers, special counsel, and consultants retained by the Debtor and/or any other party-in-interest; h. assist the Debtor in its negotiations with creditors or third parties concerning the terms of any proposed plan(s) of reorganization; i. prepare and draft plan(s) of reorganization; and j. assist the Debtor in performing such other services as may be in the interest of the Debtor and perform all other services required by the Debtor. The firm will be paid at these rates: Partners $625 to $800 per hour Associates $270 to $700 per hour Paralegals $285 per hour As disclosed in the court filings, the attorneys in Goetz Platzer are disinterested as such term is defined in Sec. 101(14) of the Bankruptcy Code. The firm can be reached through: Gary M. Kushner, Esq. GOETZ PLATZER LLP One Penn Plaza, 31st Floor New York, New York 10119 Telephone: 212-695-8100 Fax: (212) 629-4013 About Splashlight Holding LLC Splashlight Holding LLC is the majority equity holder of several operating companies, including Splashlight LLC, Mahogany Fine Foods and Catering LLC, Splashlight Photographic & Digital Studios LLC, and Splashlight Technologies LLC. The Debtor, through Splashlight LLC and Splashlight Photographic & Digital Studios LLC, provides comprehensive production services for still and film shoots, both in-studio in New York City and on-location. Their specialties include directing, casting, production, and post-production across various media formats, including film, print, and digital platforms. Additionally, its subsidiary, Mahogany Fine Foods and Catering, provides catering and 1hospitality services to Splashlight and Splashlight Photographic & Digital Studios clients. Splashlight Holding LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10277) on February 12, 2025. In its petition, the Debtor reports total assets of $38,979,766 and total liabilities of $54,493,305. Honorable Bankruptcy Judge Lisa G. Beckerman handles the case. The Debtor is represented by Scott Simon, Esq. at GOETZ PLATZER LLP. ST. CHRISTOPHER'S: Secures $9MM Real Estate Bid in Chapter 11 ------------------------------------------------------------- Emily Lever of Law360 reports that St. Christopher's Inc., a youth mental health provider in bankruptcy, is asking a New York bankruptcy court to approve the private sale of a 22.1-acre property for $9 million. About St. Christopher's, Inc. St. Christopher's, Inc. is a residential treatment center providing services to children with special needs. It empowers children and youth with special needs with the social emotional coping skills and strengths they need -- and the healthcare, mental health and social support services they require -- to enter adulthood confident and equipped to meet life's challenges and opportunities. St. Christopher's and The McQuade Foundation filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 24-22373) on April 29, 2024. Heidi Sorvino, Esq., at White and Williams, LLP serves as Subchapter V trustee. At the time of the filing, St. Christopher's reported $10 million to $50 million in assets and $1 million to $10 million in liabilities while McQuade reported $1 million to $10 million in both assets and liabilities. Judge Sean H. Lane presides over the cases. Janice B. Grubin, Esq., at Barclay Damon, LLP represents the Debtors as legal counsel. ST. CHRISTOPHERS: To Sell New Windsor Property to 621 Blooming -------------------------------------------------------------- St. Christopher's, Inc. and its affiliate, The McQuade Foundation, seek approval from the U.S. Bankruptcy Court for the Southern District of New York, to sell Property in a private sale, free and clear of liens, interests, and encumbrances. The Debtors Property up for sale is comprised of approximately 22.1 acres of real property owned by McQuade located in New Windsor, New York 12553. The Debtors want to sell the Property to 621 Blooming Grove LLC for $9 million, free and clear of liens, claims, encumbrances and interests except for the DASNY Bonds and the GNC Lease. The Debtors and their real estate professionals believe that further marketing or attempts to sell the New Windsor Real Estate will not result in a higher sale price, but would result in generating less net value for the Debtors' estates. St. Christopher’s was established in 1881 – and incorporated as a not-for-profit New York corporation in 1885 as St. Christopher’s Home – as a refuge for homeless, orphaned and neglected children. St. Christopher's has evolved over time such that its mission became to empower children and youth with special needs with the social-emotional coping skills and strengths they need, and the healthcare, mental health and social support services they require, to enter adulthood confident and equipped to meet life’s challenges and opportunities, and live happy, healthy and meaningful lives. As of early 2024, St. Christopher's on-campus operations included the Dobbs Ferry residential treatment center and the Jennie Clarkson RTC located at its Dobbs Ferry and Valhalla campuses, respectively, both licensed by New York State‘s Office of Children and Family Services. St. Christopher's other operations consisted of its health homes care management program, licensed by the New York State Department of Health, as a member organization of the Collaborative for Children and Families, which terminated its operations as of approximately November 25, 2024. McQuade is a not-for-profit New York organization holding land and buildings for the ORR Program formerly operated by St. Christopher's and The Kaplan Career Academy currently operated by Greenburgh-North Castle Union Free School District (GNC). The Debtors engage SVN Deegan-Collins Commercial Realty (SVN) as the exclusive listing broker to market the New Windsor Real Estate for sale. SVN created the sale brochure and the and when public mass marketing of the New Windsor Real Estate commenced, which included targeted phone call campaigns and email, blasts to SVN's buyer database, consisting of several thousand contacts. 621 Blooming Grove LLC submitted the highest price with proof of funds and the bid was $9 million. The Debtors and SVN's marketing efforts have resulted in the proposed Sale of the New Windsor Real Estate to Purchaser at a price that is almost double the most recent appraised value. The Debtors believe that the private sale of the New Windsor Real Estate will maximize value while also meeting their need for an efficient conclusion to the Sale process. About St. Christopher's, Inc. St. Christopher's, Inc. is a residential treatment center providing services to children with special needs. It empowers children and youth with special needs with the social emotional coping skills and strengths they need -- and the healthcare, mental health and social support services they require -- to enter adulthood confident and equipped to meet life's challenges and opportunities. St. Christopher's and The McQuade Foundation filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 24-22373) on April 29, 2024. Heidi Sorvino, Esq., at White and Williams, LLP serves as Subchapter V trustee. At the time of the filing, St. Christopher's reported $10 million to $50 million in assets and $1 million to $10 million in liabilities while McQuade reported $1 million to $10 million in both assets and liabilities. Judge Sean H. Lane presides over the cases. Janice B. Grubin, Esq., at Barclay Damon, LLP represents the Debtors as legal counsel. STG DISTRIBUTION: LRFC Marks $741K 1L Secured Debt at 90% Off ------------------------------------------------------------- Logan Ridge Finance Corp. has marked its $741,000 loan extended to STG Distribution LLC to market at $76,000 or 10% of the outstanding amount, according to LRFC's Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission. LRFC is a participant in a First Lien/Senior Secured Debt, Third Out, to STG Distribution LLC. The debt accrues interest at a rate of 11% per annum. The debt matures on October 3, 2029. LRFC is an externally managed non-diversified closed-end management investment company incorporated in Maryland that has elected to be regulated as a business development company under the Investment Company Act of 1940. It is managed by Mount Logan Management LLC, an investment adviser that is registered as an investment adviser under the Investment Advisers Act of 1940, and BC Partners Management LLC, which provides the administrative services necessary for it to operate. LRFC may invest in first lien loans, which have a first priority security interest in all or some of the borrower's assets. In addition, its first lien loans may include positions in "stretch" senior secured loans, also referred to as "unitranche" loans, which combine characteristics of traditional first lien senior secured loans and second lien loans, providing it with greater influence and security in the primary collateral of a borrower and potentially mitigating loss of principal should a borrower default. LRFC may also invest in second lien loans, which have a second priority security interest in all or substantially all of the borrower's assets. In addition to debt securities, it may acquire equity or detachable equity-related interests (including warrants) from a borrower. It also intends to target investments that mature in four to six years from its investment. LRFC is led by Ted Goldthorpe as chief executive officer and president; Brandon Satoren as chief financial officer, and Alexander Duka as director. The company can be reached through: Logan Ridge Finance Corp. 650 Madison Avenue, 3rd Floor New York, New York 10022 Telephone: (212) 891-2880 About STG Distribution LLC STG is a provider of integrated, port-to-door containerized logistic services including drayage, transloading, warehousing, fulfilment, rail brokerage and final-mile solutions. It serves the continental U.S. including major ports. TANDEM GROUP: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On March 31, 2025, Tandem Group LP filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Tandem Group LP Tandem Group LP Tandem Group LP is a real estate leasing company. Tandem Group LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41159) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtor is represented by Jeff Prostok, Esq. at VARTABEDIAN HESTER & HAYNES LLP. TANNER DEWEESE: Creditors to Get Proceeds From Liquidation ---------------------------------------------------------- Tanner Deweese Paving, LLC filed with the U.S. Bankruptcy Court for the Middle District of Tennessee a Subchapter V Plan of Liquidation dated March 10, 2025. TDP was a paving company based in Middle Tennessee and Western Kentucky which performed both commercial and residential projects. TDP was owned and operated by Tanner Deweese, initially as a division within Charles Deweese Construction, Inc. ("CDCI"), and then as its own stand-alone company. TDP operated throughout 2022 and completed a large (for TDP) project in the Madison, Tennessee Wal-Mart parking lot. When it came time for TDP to get paid, the general contractor on the job, Keeley Construction, refused to turn over the funds that it was holding from the project owner. After extensive back-and-forth between business and legal representatives, Keeley ultimately advised TDP that it was concerned that CDCI's bankruptcy estate might make a claim to the funds and therefore would not turn over the same without court involvement. When Keeley failed to pay TDP, TDP was unable to pay its debts as they came due and shut down operations. As of the Petition Date, the Debtor's primary asset consisted of a receivable from Keeley Construction of unknown collectability and with a competing claim asserted by the bankruptcy estate of CDCI. The Debtor, Mr. Deweese, and the estate of CDCI engaged in lengthy negotiations regarding CDCI's claims against the Debtor and Mr. Deweese and TDP's claim to funds from Keeley Construction. Instead of engaging in time-consuming and cost-intensive litigation, the Debtor has assigned the Keeley Construction claim to CDCI, which is better situated to pursue the funds, in exchange for a payment of 10% of the Net Recoveries. This Settlement and Compromise was approved by the Court. The Plan is designed to liquidate the Debtor's bankruptcy estate to provide all creditors and parties in interest an amount that is equal to, or in excess of, the amount they would receive or retain if the Debtor were liquidated under Chapter 7 of Title 11. Class 3 consists of General Unsecured Claims. The Class 3 Claims shall be satisfied by the Debtor's distribution of cash paid into the estate by the CDCI estate from the Keeley collection matter or any other recoveries by the estate, to the extent proceeds are available after satisfaction of approved administrative expense claims, the Class 2 Claims, and priority tax claims. To the extent proceeds are unavailable to satisfy the Class 3 Claimants in full, each of the Class 3 Claimants will each receive a pro rata percentage of the net cash remaining for distribution. Class 4 consists of Ownership Interests. The equity structure of Debtor shall not be altered by this Plan. The Debtor has assigned its receivables due from Keeley to the estate of CDCI, which has agreed to pursue the same. In the event funds are recovered by the CDCI estate, the estate of TDP will be paid 10% of the net recoveries which will fund distributions under this Plan. All net proceeds after satisfaction of approved administrative claims shall be provided to the Subchapter V Trustee to be held in trust for distribution (or in the event of confirmation of a consensual plan, to the Debtor). A full-text copy of the Liquidating Plan dated March 10, 2025 is available at https://urlcurt.com/u?l=nSMLjD from PacerMonitor.com at no charge. About Tanner Deweese Paving Tanner Deweese Paving LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 24-04736) on Dec. 9, 2024. In the petition filed Tanner Deweese, as owner, the Debtor reports total assets of $433,821 and total liabilities of $1,060,330. Bankruptcy Judge Randal S. Mashburn handles the case. The Debtor is represented by: R. Alex Payne, Esq. DUNHAM HILDEBRAND PAYNE WALDRON, PLLC 9020 Overlook Blvd., Suite 316 Brentwood, TN 37027 Tel: 629-777-6529 Fax: 615 777 3765 Email: alex@dhnashville.com TEAM MUV: Hires A-Plus Accounting Services Inc. as Bookkeeper ------------------------------------------------------------- Team MUV Fitness Troutdale LLC seeks approval from the U.S. Bankruptcy Court for the District of Oregon to employ A-Plus Accounting Services, Inc. as bookkeeper. The firm will provide bookkeeping and cash management services and to assist Debtor in preparing monthly operating reports. A-Plus services will be billed at a monthly flat rate of $1,321. As disclosed in the court filings, A-Plus is not a creditor of the Debtor and has no interest adverse to the Debtor or its estate on any of the matters upon which it is to be engaged, is a disinterested person as defined in 11 U.S.C Sec. 101(14). The firm can be reached through: Donna Loomans A-Plus Accounting Services, Inc. 17527 S Tapps Dr E Lake Tapps, WA 98391 Tel: (425) 741-1513 Fax: (469) 888-8890 Email: info@aplusacct.com About Team MUV Fitness Troutdale LLC Team MUV Fitness Troutdale LLC is a fitness center located at 2469 SW Cherry Park Road in Troutdale, Oregon. It offers a variety of amenities, including cardio and strength training equipment, group fitness classes like Boot Camp, Zumba, and yoga, an indoor swimming pool, basketball and pickleball courts, and onsite childcare services. Team MUV Fitness Troutdale LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Or.Case No. 25-30476) on February 17, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Teresa H. Pearson handles the case. The Debtor is represented by Oren B. Haker, Esq. at BLACK HELTERLINE LLP. TERRA LAGUNA: Seeks Chapter 11 Bankruptcy in Delaware ----------------------------------------------------- On March 31, 2025, Terra Laguna Beach Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Terra Laguna Beach Inc. Terra Laguna Beach Inc. is a fine-dining restaurant and event venue in Laguna Beach, California, offering a seasonal culinary experience with a focus on fresh, locally sourced ingredients. During the Pageant of the Masters from July 5 to September 5, the restaurant transforms into a gourmet destination with a special dinner menu, intermission offerings, and curated wine selections. Outside of this period, Terra serves as a regular dining establishment while also hosting private events, making it an ideal location for weddings and special gatherings. Terra Laguna Beach Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10641) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtor is represented by Brendan Linehan Shannon, Esq. at POTTER ANDERSON & CORROON LLP. BUCHALTER, A PROFESSIONAL CORPORATION served as Debtor's special counsel and FTI CONSULTING, INC. as Debtor's chief restructuring officer. TINY FROG: Files Emergency Bid to Use Cash Collateral ----------------------------------------------------- Tiny Frog, Inc. asked the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, for authority to use cash collateral. The Debtor's only income source is its restaurant operations, and to maintain business continuity, it needs funds for salaries, supplies, utilities, and other operating costs. The Debtor argued that liquidating its assets would lead to minimal returns for creditors and that continued operation offers a better chance of maximizing the return to creditors. The Debtor owes debts to various secured creditors, including The Bancorp Bank/SBA, First Federal Bank, Business Expansion Funding, Timepayment Corp., Headway Capital, LLC, and the U.S. Treasury. The total amounts owed to these creditors range from small amounts to over $900,000. These creditors hold liens on the company's assets, such as cash, accounts receivable, and inventory. The Debtor proposed that the secured creditors' interests will be protected through replacement liens on the company's post-petition assets, which will be in place to the same extent as the original liens on pre-petition assets. The Debtor will provide regular financial reports to secured creditors and the bankruptcy administrator, detailing its income, expenditures, and adherence to a proposed budget. Any significant deviations from the budget would require the approval of the secured creditors or the court. About Tiny Frog Inc. Tiny Frog, Inc. operates multiple franchise locations of Hwy 55 Burger Shakes & Fries, a fast-casual dining chain specializing in burgers, shakes, and fries, under franchise agreements with The Little Mint, Inc. Tiny Frog filed Chapter 11 petition (Bankr. E.D. N.C. Case No. 25-01081) on March 25, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Alexis Ramos, president of Tiny Frog, signed the petition. Judge Joseph N. Callaway oversees the case. David F. Mills, Esq., at Narron Wenzel, P.A., represents the Debtor as legal counsel. TREESAP FARMS: Hires Armory Securities as Investment Banker ----------------------------------------------------------- Treesap Farms, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Armory Securities, LLC as investment banker. The firm will render these services: (a) General Financial Advisory and Investment Banking Services. Armory will to the extent appropriate given the circumstances: i. familiarize itself with the business, operations, properties, financial condition and prospects of the Debtors; and ii. if the Debtors determine to undertake a Restructuring, Financing, and/or Sale, advise and assist the Debtors in structuring and effecting the financial aspects of such a transaction or transactions, subject to the terms and conditions of this agreement. (b) Restructuring Services. If the Debtors pursue a restructuring, Armory will to the extent appropriate given the circumstances: i. Provide financial advice and assistance to the Debtors in developing and seeking approval of a Restructuring plan, which may be a plan under chapter 11 of the Bankruptcy Code or otherwise; ii. if requested by the Debtors, in connection therewith, provide financial advice and assistance to the Debtors in structuring any new securities to be issued under the Plan; iii. if requested by the Debtors, assist the Debtors and/or participate in negotiations with entities or groups affected by the Plan; and iv. if requested by the Debtors, participate in hearings before the bankruptcy court with respect to the matters upon which Armory has provided advice, including, as relevant, coordinating with the Debtors' counsel with respect to testimony in connection therewith. (c) Financing Services. If the Debtors pursue a Financing, Armory will, as placement agent and/or arranger, to the extent appropriate given the circumstances: i. provide financial advice and assistance to the Debtors in structuring and effecting a Financing, and identify potential Investors; ii. if Armory and the Debtors deem it advisable, assist the Debtors in developing and preparing a memorandum (with any amendments or supplements thereto, the "Financing Offering Memorandum") to be used in soliciting potential Investors, it being agreed that (A) the Financing Offering Memorandum shall be based entirely upon information supplied by the Debtors, and (B) the Debtors shall be solely responsible for the accuracy and completeness of the Financing Offering Memorandum; and iii. if requested by the Debtors, contact or assist the Debtors, and/or participate in negotiations with, potential Investors. (d) Sale Service. If the Debtors pursue a Sale, Armory will to the extent appropriate given the circumstances: a. provide financial advice and assistance to the Debtors in connection with a Sale, identify potential Acquirors and, at the Debtors' request, contact such potential Acquirors; b. at the Debtors' request, assist the Debtors in preparing a memorandum (with any amendments or supplements thereto, the "Sale Memorandum") to be used in soliciting potential Acquirors, it being agreed that (A) the Sale Memorandum shall be based entirely upon information supplied by the Debtors, and (B) the Debtors shall be solely responsible for the accuracy and completeness of the Sale Memorandum; and c. if requested by the Debtors, assist the Debtors and/or participate in negotiations with potential Acquirors. The firm will receive these fees: a. An engagement fee of $100,000 which shall be due and paid by the Debtors upon the execution of the Engagement Letter. b. A monthly financial advisory fee of $50,000 (the "Monthly Advisory Fee"), which shall be due and paid by the Debtors beginning on the first monthly anniversary of the execution of the Engagement Agreement and continuing thereafter on the monthly anniversary of such date during the term of this engagement. 50 percent of the Monthly Advisory Fees paid shall be credited against a Transaction Fee earned in excess of a Minimum Transaction Fee. c. If at any time during the term of the engagement or within the eighteen full months following the termination of the engagement (including the term of the engagement, the "Fee Period"), (i) any Restructuring is consummated for all or a portion of the business rather than a Sale transaction or (y)(1) an agreement in principle, definitive agreement or Plan to effect a Restructuring for all or a portion of the business rather than a Sale transaction is entered into and (2) concurrently therewith or at any time thereafter (including following the expiration of the Fee Period), any Restructuring is consummated, Armory shall be entitled to receive a transaction fee (a "Restructuring Transaction Fee"), contingent upon the consummation of a Restructuring and payable at the closing thereof, equal to three-percent (3.0 percent) of Transaction Value of the business so Restructured. The Restructuring Transaction Fee shall be earned and payable upon the consummation of the Plan. d. If at any time during the Fee Period, (x) any Sale is consummated, or (y)(1) an agreement in principle or definitive agreement to effect a Sale is entered into, and (2) concurrently therewith or at any time thereafter (including following the expiration of the Fee Period) any Sale is consummated, Armory shall be entitled to receive a transaction fee (a "Sale Transaction Fee"), contingent upon the consummation of a Sale and payable at the closing thereof, which shall be equal to three-percent (3.0 percent) of the Transaction Value. e. If at any time during the Fee Period, the Debtors (x) consummate any Financing or (y)(1) the Debtors receive and accept written commitments for one or more Financings (the execution by a potential financing source and the Debtors of a commitment letter or securities purchase agreement or other definitive documentation shall be deemed to be the receipt and acceptance of such written commitment) and (2) concurrently therewith or at any time thereafter (including following the expiration of the Fee Period) any Financing is consummated, the Company will pay to Armory on the closing date of any such Financing, a cash fee (the "Financing Fee") equal to (x) one-percent (1.0 percent) of senior secured first lien bank debt commitment in the transaction, plus (y) one and one-half percent (1.5 percent) of first lien uni-tranche or other senior secured private debt capital commitment in the transaction, plus (z) five-percent (5.0 percent) of the aggregate gross subordinated debtor or equity financing committed in the transaction; provided that the maximum Financing Fee attributable to (x) or (y) is $1,500,000. In connection with any Debtor-in-Possession Financing received by the Debtors ("DIP Financing"), the Debtors shall pay Armory a fee of one-percent (1.0 percent) of the aggregate amount of the DIP Facility or of the aggregate amount of new monies provided to the Debtors pursuant to such facility, payable upon execution of a commitment letter or other similar document, provided that no fee shall be due to Armory for DIP Financing provided by the Debtors' existing lender at Capital Farm Credit. Douglas McDonald, a partner at Armory Securities, 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: Douglas McDonald Armory Securities, LLC 200 North Pacific Coast Highway, Suite 1525 El Segundo, CA 90245 Tel: (310) 220-6400 About Treesap Farms TreeSap Farms LLC is a leading supplier of trees and plants to home improvement retailers. TreeSap Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90021) on February 24, 2025. In its petition, the Debtor disclosed estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor tapped McKool Smith, Esq., as counsel and Donlin, Recano & Company, LLC as claims, noticing and solicitation agent. TREESAP FARMS: Hires Hunton Andrews Kurth as Bankruptcy Counsel --------------------------------------------------------------- Treesap Farms, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Hunton Andrews Kurth LLP as bankruptcy counsel. The firm will provide these services: a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their business; b) advise and consult on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c) attend meetings and negotiate with representatives of creditors and other parties in interest; d) take all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any actions commenced against the Debtors and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including prosecuting objections to claims filed against the Debtors' estates; e) preparing pleadings in connection with the Chapter 11 Cases, including motions, applications, answers, draft orders, reports and other documents necessary or otherwise beneficial to the administration of the Debtors' estates; f) representing the Debtors in connection with obtaining authority to use cash collateral and post-petition financing; g) appearing before the Court and any appellate courts to represent the interests of the Debtors' estates; h) taking any necessary actions on behalf of the Debtors to negotiate, prepare and obtain approval of a disclosure statement and confirmation of a chapter 11 plan of reorganization and all documents related thereto; i) advise the Debtors in connection with any sale of assets; j) provide corporate transactional, financing, environmental, employment, and other services to the Debtors to the extent requested by the Debtors; and k) perform all other necessary legal services for the Debtors in connection with the Chapter 11 Cases, which may include (i) the analysis of the Debtors' leases and executory contracts and the assumption, rejection or assignment thereof, (ii) the analysis of the validity of liens against the Debtors, and (iii) advice on corporate and litigation matters, including both pending and threatened litigation and the administration and resolution of claims. The firm will be paid at these rates: Timothy A. Davidson II, Partner $1,405 Joseph Rovira, Partner $1,100 Catherine Rankin, Associate $895 Brandon Bell, Associate $795 Kaleb Bailey, Associate $690 The Debtors paid Hunton an aggregate amount of $314,283.15 as advance payment retainers. The firm 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 UST Guidelines: Question: Did Hunton agree to any variations from, or alternatives to, Hunton's standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the Hunton professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the Debtors in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If Hunton's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Hunton's billing rates and material financial terms for its prepetition engagement of the Debtors are set forth in the Engagement Letter. Hunton's billing rates and material financial terms for Hunton's representation of the Debtors have not changed post-petition. Question: Have the Debtors approved Hunton's prospective budget and staffing plan, and, if so for what budget period? Response: Hunton has not prepared a budget and staffing plan. Timothy A. (Tad) Davidson II, Esq., a partner at Hunton Andrews Kurth, 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: Timothy A. (Tad) Davidson II, Esq. Hunton Andrews Kurth LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Telephone: (713) 220-3810 Email: taddavidson@HuntonAK.com About Treesap Farms TreeSap Farms LLC is a leading supplier of trees and plants to home improvement retailers. TreeSap Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90021) on February 24, 2025. In its petition, the Debtor disclosed estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor tapped McKool Smith, Esq., as counsel and Donlin, Recano & Company, LLC as claims, noticing and solicitation agent. TREESAP FARMS: Seeks to Hire McKool Smith as Bankruptcy Co-Counsel ------------------------------------------------------------------ Treesap Farms, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ McKool Smith, PC as general bankruptcy co-counsel. The firm will render these services: a. assist, advise, and represent the Debtors in their consultations with estate constituents regarding the administration of these Chapter 11 Cases; b. assist, advise, and represent the Debtors in any manner relevant to the Debtors' financing needs, asset dispositions, and leases and other contractual obligations; c. assist, advise, and represent the Debtors in any issues associated with the acts, conduct, assets, liabilities, and financial condition of the Debtors; d. assist, advise, and represent the Debtors in the negotiation, formulation, and drafting of any plan of reorganization and disclosure statement; e. assist, advise, and represent the Debtors in the performance of their duties and the exercise of their powers under the Bankruptcy Code, the Bankruptcy Rules, and any applicable local rules and guidelines; and f. provide such other necessary advice and services as the Debtors may require in connection with these Chapter 11 Cases. The firm will be paid at these rates: Principals $975 to $2,200 Associates $595 to $1,075 Paraprofessionals $325 to $440 The firm received payments totaling $865,691.37 for services rendered prior to the Petition Date. In accordance with Section D.1 of the U.S. Trustee Guidelines, McKool provided the following information: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Yes, a 15% reduction of the current hourly rates Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Prior to the Petition Date, 2024 and 2025 rates were charged, and in certain instances a discount was applied. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Not applicable. John Sparacino, Esq., a principal at McKool Smith, disclosed in court filings that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: John J. Sparacino, Esq. McKool Smith, PC 600 Travis Street, Suite 7000 Houston, TX 77002 Tel: (713) 485-7300 Fax: (713) 485-7344 Email: jsparacino@mckoolsmith.com About Treesap Farms TreeSap Farms LLC is a leading supplier of trees and plants to home improvement retailers. TreeSap Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90021) on February 24, 2025. In its petition, the Debtor disclosed estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor tapped McKool Smith, Esq., as counsel and Donlin, Recano & Company, LLC as claims, noticing and solicitation agent. TREESAP FARMS: Taps Bret Jacobs of Keystone Group as CRO -------------------------------------------------------- Treesap Farms, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Keystone Group as financial advisor and designate Bret Jacobs as chief restructuring officer. Mr. Jacobs will assist the Debtors in evaluating and implementing strategic and tactical options through the restructuring process. In addition to the ordinary course duties of the CRO, Keystone Professionals may provide the following services: a. structure and prepare the Debtors for a Chapter 11 Bankruptcy, including the formation and review of liquidation analyses and winddown budgets; b. assist the Debtors in cash management and cash flow forecasting processes including the monitoring of actual cash flow versus projections along with direct oversight and control of the 13-week cash flow forecast; c. manage cash flow within agreed upon limits; these limits to be decided once the CRO has developed the 13-week cash flow forecast; d. assist, along the Debtors' proposed investment banker and financial advisor at Armory Securities, the Debtors in evaluating strategy alternative transactions including financing, sale or restructuring of the Debtors including a Chapter 11 bankruptcy process; e. assist the Debtors in connection with the Debtors' preparation of various financial reports which may be required during discussions with the Debtors' constituents, including the Debtors' Members, lenders, vendors, or customers; f. provide advice and recommendations with respect to other related matters as the Debtors or their professionals may request from time to time, as agreed to by the Debtors; and g. provide other support to the Debtors related to initiatives as necessary. The firm will be paid at these hourly rates: Managing Partner (Mr. Amar Shah) $960 Senior Principal (Mr. Bret Jacobs) $600 Junior Consultants $200 to $500 Keystone will seek reimbursement for reasonable, necessary, and documented out-of- pocket expenses incurred. Keystone received a retainer in the amount of $300,000. Keystone is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Bret Jacobs Keystone Group 1201 Peachtree St NE Building 400, Suite 1725 Atlanta, GA 30361 Tel: (404) 467-6170 Email: bjacobs@thekeystonegroup.com About Treesap Farms TreeSap Farms LLC is a leading supplier of trees and plants to home improvement retailers. TreeSap Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90021) on February 24, 2025. In its petition, the Debtor disclosed estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor tapped McKool Smith, Esq., as counsel and Donlin, Recano & Company, LLC as claims, noticing and solicitation agent. TRINITY EXCAVATORS: Hires Shannon & Lee as Local Counsel -------------------------------------------------------- Trinity Excavators, LLC and TE Construction Group, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Shannon & Lee LLP as local bankruptcy counsel. The firm will render these services: a) assist Lead Counsel with respect to the Local Rules, the Court Procedures of this Court, and the local customs and practices of the Southern District of Texas; b) review and comment on drafts of pleadings and other filings with the Court; c) at the request of the Debtors or Lead Counsel, appear in proceedings before the Court as local counsel; d) provide services in connection with these chapter 11 cases, including, without limitation, preparing and serving agendas, notices, witness and exhibit lists, and hearing binders; and e) other legal services as may be necessary or appropriate in connection with these chapter 11 cases as local counsel. The firm will be paid at these hourly rates: Kyung S. Lee $900 R. J. Shannon $700 Associate Attorneys $300 to $600 Paralegals / Law Clerks $150 to $250 Legal Assistants $75 to $100 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert J. Shannon, a partner at Shannon & Lee 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: Robert J. Shannon, Esq. Ella A. Cornwall, Esq. SHANNON & LEE LLP Central Square 2100 Travis Street, STE 1525 Houston, Texas 77002 Telephone: (713) 714-5770 Facsimile: (833) 714-5770 Email: rshannon@shannonleellp.com ecornwall@shannonleellp.com About Trinity Excavators Trinity Excavators, LLC operates in the nonresidential building construction industry. Trinity Excavators sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-35266) on November 6, 2024, with $1 million to $10 million in both assets and liabilities. Brian Buttry, president of Trinity Excavators, signed the petition. Judge Jeffrey P. Norman oversees the case. Harrison A. Pavlasek, Esq., at Forshey Prostok, LLP, represents the Debtor as legal counsel. TUBE METAL: Unsecureds Will Get 100% of Claims over 36 Months ------------------------------------------------------------- Tube Metal Installs, LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated March 10, 2025. The Debtor was formed in October 2023 and markets portable metal shed kits nationwide. It provides delivery and setup. Part of the business included "Do-it-Yourself" kits. The Debtor delivers product throughout the nation. This requires the Debtor to incur substantial travel expenses. To cover expenses between the time of the product being order and delivery of the kits, the Debtor obtained merchant cash advances. For most of the year, the Debtor was able to pay the MCAs according to the terms of the agreement. Sales slowed down during the 4th quarter of 2024 causing the Debtor to fall behind on payments. Unable to manage MCA payments, the Debtor filed the chapter 11 bankruptcy on December 12, 2024. The company is still in its infancy, but is slowly building. The Debtor is optimistic that future sales will allow for creditors to be paid in full. This Plan provides for one class of secured claims, and one class of general unsecured claims. This Plan also provides for the payment of administrative claims. Class 2 consists of the unsecured priority claim of the Florida Department of Revenue. Florida DOR has a priority claim in the amount of $10.00. The Debtor will pay this amount in full on the effective date. This class is unimpaired. Class 3 consists of general unsecured creditors. The unsecured claims total approximately $70,229.21. The creditors will be paid in full over 36 months. The unsecured creditors will be share in the pro rata distribution of $1,950.81 per month for 36 months. The creditors will receive approximately 100% of their claim. This class is impaired. Class 4 owners of the Debtor shall retain all property of the estate. The Debtor's ability to fully fund the plan and make payments is dependent on the company's future income. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=x9gtEJ from PacerMonitor.com at no charge. Counsel to the Debtor: Brian K. McMahon, Esq. Brian K. McMahon, PA 1401 Forum Way, Suite 730 West Palm Beach, FL 33401 Telephone: (561) 658-1789 Facsimile: (561) 478-3111 Email: brian@bkmbankruptcy.com About Tube Metal Installs Tube Metal Installs, LLC, was formed in October 2023 and markets portable metal shed kits nationwide. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 24-22976-CLC) on Dec. 12, 2024. The Debtor tapped Brian K. McMahon, P.A., as attorney. U-TELCO UTILITIES: Seeks Cash Collateral Access ----------------------------------------------- U-Telco Utilities, Inc. asked the U.S. Bankruptcy Court for the Northern District of New York for authority to use cash collateral. The Debtor needs to use cash collateral to pay for payroll, vendor services, and other essential business expenses. The Debtor intends to focus on providing employees, vehicles, and equipment for a gravel pit mining operation. However, due to operational difficulties, including challenges in hiring employees and severe winter conditions, the Debtor has been unable to meet its financial obligations. Moving forward, the Debtor's operations will primarily focus on providing employees, vehicles, and equipment for a gravel pit mining operation. This reorganization is intended to generate enough income to repay creditors, though the Debtor currently has no employees. However, starting in mid-April, it plans to employ one or two workers, excluding the sole member, Rusty Moosbrugger. Prior to the filing, the Debtor had been engaged in excavation and site work, including the digging of septic systems and driveways. The Debtor also provided employees, vehicles, and equipment for a gravel pit mining operation. However, in the fall of 2024, the Debtor ceased its excavation work due to an inability to hire competent employees. Additionally, harsh winter conditions, including over six feet of snow, hindered its ability to make required monthly payments. As a result, the Debtor filed for bankruptcy protection under Subchapter V, which allows it to continue operations and avoid immediate liquidation. The Debtor is facing secured claims, most notably a UCC-1 lien filed by the U.S. Small Business Administration on June 29, 2020. The SBA holds a blanket lien on the Debtor's personal property and assets, including its cash, accounts receivable, and deposit accounts, which may be considered as cash collateral. The SBA could assert that the Debtor's cash and receivables are subject to their security interests, meaning that the Debtor's cash is effectively "cash collateral" under Bankruptcy Code § 363(a). As part of the motion, the Debtor requested that the court approve the use of cash collateral to maintain ongoing operations. The Debtor also proposed that any creditors with filed UCC liens maintain their security interests and be granted a "rollover lien" on any cash collateral used, effectively preserving their pre-petition claims. A hearing on the matter is set for April 17. About U-Telco Utilities Inc. U-Telco Utilities Inc. specializes in the rental of commercial and industrial machinery and equipment, including heavy construction machinery such as dozers, excavators, and compact track loaders. The Company provides a diverse range of equipment for construction and mining operations, offering machinery for rent to support grading, excavation, and material screening projects. U-Telco Utilities Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-30126) on February 25, 2025. In its petition, the Debtor reported total assets of $544,250 and total liabilities of $1,184,527. Judge Wendy A. Kinsella handles the case. The Debtor is represented by Peter A. Orville, Esq. at Orville & McDonald Law, P.C. ULTRA SAFE: Plan Exclusivity Period Extended to May 27 ------------------------------------------------------ Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware extended Ultra Safe Nuclear Corp. and its affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to May 27 and July 28, 2025, respectively. As shared by Troubled Company Reporter, since the Petition Date, the Debtors and their professionals have focused substantially all of their time, energy, and resources on smoothly transitioning into chapter 11, addressing critical case management issues, marketing the Debtors' assets in connection with a postpetition sale process, and closing on the Sales, all in an effort to maximize the value of the Debtors' estates. The Debtors believe that, in light of the progress that the Debtors and other professionals have made in these chapter 11 cases over the past four months, and the Debtors' demonstrated efforts to work cooperatively with their stakeholders, it is reasonable and appropriate that the Debtors be granted an extension of the Exclusive Periods. Accordingly, the Debtors submit that this factor weighs in favor of extending the Exclusive Periods. The Debtors assert that they have endeavored to establish and maintain cooperative working relationships with their primary creditor constituencies. Importantly, the Debtors are not seeking the extension of the Exclusive Periods to delay administration of these chapter 11 cases or to exert pressure on their creditors, but rather to continue the orderly, efficient, and cost-effective chapter 11 process. Thus, this factor also weighs in favor of the requested extension of the Exclusive Periods. The Debtors further assert that termination of the Exclusive Periods would adversely impact the Debtors' efforts to preserve and maximize the value of the estates and the progress of these chapter 11 cases. Terminating the Exclusive Periods would only foster a chaotic environment and cause opportunistic parties to engage in counterproductive behavior in pursuit of alternatives that are neither value-maximizing nor feasible under the circumstances of these chapter 11 cases. The Debtors' Counsel: Michael R. Nestor, Esq. Elizabeth S. Justison, Esq. Matthew B. Lunn, Esq. Elizabeth S. Justison, Esq. Shella Borovinskaya, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP Rodney Square 1000 North King Street Wilmington, Delaware 19801 Tel: (302) 571-6600 Fax: (302) 571-1253 Email: mnestor@ycst.com mlunn@ycst.com ejustison@ycst.com sborovinskaya@ycst.com About Ultra Safe Nuclear Corporation Ultra Safe Nuclear Corp. -- https://www.usnc.com/ -- is a privately-owned provider of nuclear fuel and reactor components. Ultra Safe Nuclear and its affiliates filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 24-12443) on Oct. 29, 2024, with $10 million to $50 million in assets and $50 million to $100 million in liabilities. Kurt A. Terrani, the interim chief executive officer, signed the petition. The Debtors are represented by Elizabeth Soper Justison, Esq., at Young Conaway Stargatt & Taylor, LLP. US ECO PRODUCTS: Unsecureds to Split $187,500 over 60 Months ------------------------------------------------------------ US Eco Products Corporation filed with the U.S. Bankruptcy Court for the District of Massachusetts a Plan of Reorganization dated March 10, 2025. The Debtor is a Massachusetts corporation with a principal place of business in Haverhill, Massachusetts. The business of the Debtor is to provide goods in services to its clients. These services are in the form of janitorial and cleaning services, along with general facility maintenance. The Debtor is managed primarily by its manager, Doreen Blades. The Debtor was incorporated in Massachusetts in 2009. The Debtor's Plan is premised on the ongoing receipt of income from business operations of the Debtor. The ongoing cash contributions from operations will permit the Debtor to provide a meaningful distribution to creditors, greatly in excess of what would be received in a Chapter 7 liquidation, and in a shorter period of time. The Plan provides: * the satisfaction in full of all administrative and priority claims; * the full resolution of secured claims with regard to their collateral; and * the payment of a dividend in the approximated amount of between 31.4% to 47.3%, depending upon the amount of allowed general unsecured claims once the claims objection process is completed. With claims as filed, before any claims objections, the anticipated dividend is closer 31.4%, however this level of a dividend is not guaranteed. The final dividend will be based upon the fixed amount of cash paid into the plan to be distributed to general unsecured creditors. The Debtor proposes that the total to be paid over the life of the plan is $187,500. Class 8 consists of General Unsecured Claims. Holders of general unsecured claims are estimated to be in the amount of $835,867.68, or which $240,000 is held by insiders. Unsecured claims held by insiders shall not be paid in this class, but shall be considered paid in capital to the Debtor. Claims of insiders deducted from this amount leaves a total amount of claims in this class (disputed and undisputed) to be $595,867.68. Unsecured creditors shall receive payment on a prorate basis in quarterly installments. Payments shall be made over a period of 60 months from the effective date of confirmation of this Plan for a total of 16 installments. The distribution shall be a "pot plan", so called, and creditors shall share in this distribution. The total to be distributed over the life of the plan is $187,500. Equity interest holders are the individual members of the Debtor. They will retain their ownership interests in the Debtor under this Plan. The Debtor will fund its Plan from two main sources of funds: (i) the accumulation of funds from post-petition operations, and (ii) a payment plan from their available income over a period not to exceed 60 months, except as provided in the Plan. A full-text copy of the Plan of Reorganization dated March 10, 2025 is available at https://urlcurt.com/u?l=Fq51um from PacerMonitor.com at no charge. Counsel to the Debtor: Michael B. Feinman, Esq. Feinman Law Offices 69 Park St., Second Floor Andover, MA 01810 Telephone: (978) 494-6669 Facsimile: (978) 475-0852 Email: mbf@feinmanlaw.com About US Eco Products Corporation US Eco Products Corporation filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 24-41263) on Dec. 9, 2024. In the petition signed by Doreen Blades, president, the Debtor disclosed $320,830 in total assets and $1,249,695 in total liabilities. Judge Elizabeth D. Katz oversees the case. Michael B. Feinman, Esq., at the Feinman Law Offices represents the Debtor as counsel. VANTAGE POINT: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Vantage Point Corporation d/b/a VPC d/b/a BuyVPC d/b/a VPCInnovations 10720 32nd Ave. Pleasant Prairie, WI 53158 Business Description: Vantage Point Corporation (VPC), also known as VPCInnovations and BuyVPC, is a technology solutions provider. The Company offers a comprehensive range of IT hardware, software, and hosted/managed services to various sectors, including small and medium- sized businesses, enterprises, healthcare, education, government, and legal industries. Chapter 11 Petition Date: April 2, 2025 Court: United States Bankruptcy Court Eastern District of Wisconsin Case No.: 25-21737 Judge: Rachel M. Blise Debtor's Counsel: Evan P. Schmit, Esq. KERKMAN & DUNN 839 N. Jefferson St., Ste. 400 Milwaukee, WI 53202-3744 Tel: 414-277-8200 E-mail: eschmit@kerkmandunn.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Nicholas Preuss, serving as the president and chief operating officer. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VJ4EUQQ/Vantage_Point_Corporation_and__wiebke-25-21737__0001.0.pdf?mcid=tGE4TAMA VASTAV INC: Seeks Chapter 11 Bankruptcy in Texas ------------------------------------------------ On April 2, 2025, Vastav Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will not be available to unsecured creditors. About Vastav Inc. Vastav Inc., doing business as AlphaGraphics #376, offers custom printing, graphic design, and marketing solutions for businesses in Carrollton, TX. Vastav Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41211) on April 2, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtor is represented by Robert T. DeMarco, Esq. at DEMARCO MITCHELL, PLLC. VILLAGE ROADSHOW: Hollywood Unions Seek Assurance Amid Sale Plans ----------------------------------------------------------------- James Nani of Bloomberg Law reports that Hollywood unions are taking steps to safeguard the rights of directors, performers, and writers as the bankrupt Village Roadshow Entertainment Group USA Inc., known for the "Matrix" and "Ocean's" franchises, prepares to auction off more than 100 films. In a limited objection filed on April 3, 2025, in the U.S. Bankruptcy Court for the District of Delaware, the unions and guilds are seeking to protect residuals, pension and health contributions, security interests, and other contractual rights during the upcoming sale. About Village Roadshow Entertainment Group USA Village Roadshow Entertainment Group USA Inc. and its affiliates are a prominent independent producer and financier of major Hollywood films, having produced over 100 successful movies since 1997. Their portfolio includes globally recognized blockbusters such as "Joker," "The Great Gatsby," and the "Matrix" trilogy. Before the WB Arbitration, which began in 2022, the Company had a profitable and well-established co-production and co-financing partnership with Warner Bros. Entertainment Inc. and its affiliates ("WB"), resulting in many successful projects. The Company's most valuable assets include its Film Library and Derivative Rights, stemming from its extensive and enduring film industry presence. Village Roadshow Entertainment Group USA Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10475) on March 17, 2025. In the petitions signed by Keith Maib, chief restructuring officer, the Debtors disclosed up to $500 million in estimated assets and up to $1 billion in estimated liabilities. Honorable Bankruptcy Judge Thomas M. Horan handles the cases. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as local counsel; Sheppard, Mullin, Richter & Hampton LLP as bankruptcy counsel; Kirkland & Ellis LLP as special litigation counsel; Accordion Partners, LLC as financial and restructuring advisor; and Solic Capital Advisors, LLC as investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' claims and noticing agent. VISION CARE: Court Extends Cash Collateral Access to April 28 ------------------------------------------------------------- Tanya Sambatakos, the Chapter 11 trustee for Vision Care of Maine, LLC, received another extension from the U.S. Bankruptcy Court for the District of Maine to use cash collateral. The order authorized the trustee to use cash collateral until April 28 to pay the expenses set forth in its budget, with a 10% variance allowed. The 13-week budget shows total projected expenses of $4,312,322 for the period from March 29 to June 21. As protection, an escrow account has been established at Camden National Bank and the amount of $109,437.30 has been deposited into the escrow account. Camden was granted relief from the automatic stay to exercise its right of setoff with respect to the escrow account. The use of cash collateral is necessary to fund the Debtor's ongoing operations and to meet the deadline for filing a reorganization plan, according to the trustee. The trustee was ordered to file a reorganization plan by April 7. Failure to do so will result in the automatic termination of cash collateral use unless an extension is approved. About Vision Care of Maine Vision Care of Maine Limited Liability Company is a medical group practice located in Bangor, ME that specializes in Ophthalmology and Optometry offering vision care services including glasses, contacts, surgeries for cataracts, retina disease and cornea disease and glaucoma. Vision Care of Maine sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Me. Case No. 24-10166) on August 5, 2024. In the petition signed by Curt Young, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Peter G. Cary oversees the case. The Debtor tapped George J. Marcus, Esq., at Marcus, Clegg, Bals & Rosenthal, PA as counsel and Opus Consulting Partners, LLC as financial consultant. W NORTHFIELD: To Sell New Jersey Property to Logic Investments -------------------------------------------------------------- W Northfield LLC seeks permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell real property, free and clear of liens, interests, and encumbrances. The Debtor is a limited liability company organized under the laws of the State of New Jersey and is the owner of the residential real property located at 197 W. Northfield Rd., Livingston, NJ 07470, at Block 5001, Lot 2. The Property is a single-family home with an appraisal value of $1,400,000. The Property is encumbered by a mortgage lien held by Loan Funder, LLC Series, Canton Capital Fund I, LLC, real estate taxes due to the Livingston Township Tax Collector, a mortgage lien held by Shiel Patel, and a tax lien certificate owned by Daxuan Wang. The Debtor intends to use the proceeds of the sale to pay secured creditors and fund a plan of reorganization. The Debtor proposes to sell the property through a private sale to Logic Investments LLC. Logic is a New Jersey limited liability company whose principal is Adebiyi Olumide. The Debtor has entered a contract to sell the Property to Logic for the purchase price of $1,550,000, which was the highest offer the Debtor received. The Contract of Sale calls for a closing date on or about April 30, 2025. About W Northfield LLC W Northfield LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). W Northfield LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 24-19729) on October 1, 2024. In the petition filed by Victor Carofilis, as member, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. The Debtor is represented by David Stevens, Esq., at SCURA WIGFIELD, HEYER, STEVENS & CAMMAROTA LLP. WA3 PROPERTIES: Seeks Cash Collateral Access -------------------------------------------- WA3 Properties Renton, LLC asked the U.S. Bankruptcy Court for the Eastern District of New York for authority to use cash collateral. The Debtor needs to use cash collateral to satisfy the post-petition costs and expenses of the continued operations of its business. Merchants Bank of Indiana holds a security interest in the rents, issues, and profits from the real property located at 80 SW 2nd Street, Renton, Wash. The Debtor's only source of income is the collection of rents received from the property. On May 5, 2022, the Debtor and WA3 Properties Talbot, LLC entered into a loan agreement with the secured creditor. Pursuant to the loan agreement, Merchants Bank of Indiana, among other things, extended a loan to the borrowers in the principal amount of $35 million. As adequate protection, Merchants Bank of Indiana will be granted: (i) replacement liens pursuant to 11 U.S.C. section 361(2) on all property of the Debtor and its estate; (ii) to the extent required by the pre-petition loan documents, to the same extent and validity as its pre-petition liens; and (iii) adequate protection equal to the pre-petition monthly interest-only mortgage payments made to Merchants Bank of Indiana in accordance with the pre-petition loan documents. The adequate protection liens will be subject to the following: (i) payments of those fees due to the Office of the United States Trustee pursuant to 28 U.S.C. section 1930 and any applicable interest thereon under 31 U.S.C. section 3717; (ii) the payment of allowed professional fees and disbursements incurred by the Debtor's professionals retained by an order of the bankruptcy court, and any statutory committee appointed in this case pursuant to fee orders or any monthly compensation order, and in the event of a default that results in the termination of the Debtor's authorization to use cash collateral, unpaid professional fees and disbursements incurred prior to delivery of a carve out trigger notice in accordance with the budget not to exceed the sum of $50,000; (iii) any recoveries in favor of the estate pursuant to Chapter 5 of the Bankruptcy Code; and (iv) any amounts allowed by the court as fees and expenses of a trustee appointed under 11 U.S.C. section 726(b) in an amount not to exceed $10,000. The Debtor's authorization to use cash collateral will commence as of the entry of the interim order and terminate upon the earliest of (i) the date that is 91 days after the petition date; (ii) entry of a final order or a further interim order authorizing the Debtor's use of cash collateral; or (iii) the occurrence of a termination event. The Debtor anticipates that its expenses for the next 13 weeks will total approximately $107,750. The Debtor expects receipts to total approximately $120,000. A copy of the motion is available at https://urlcurt.com/u?l=nFdH4r from PacerMonitor.com. About WA3 Properties Renton LLC WA3 Properties Renton, LLC owns a 99-bed skilled nursing facility at 80 SW 2nd Street, Renton, Wash., in fee simple title, with a valuation of $10 million. WA3 filed Chapter 11 petition (Bankr. E.D. N.Y. Case No. 25-71121) on March 24, 2025, listing $11,887,584 in assets and $8,129,000 in liabilities. Samuel Goldner, manager of WA3, signed the petition. Judge Louis A. Scarcella oversees the case. Avrum J. Rosen, Esq., at Law Offices of Avrum J. Rosen, PLLC represents the Debtor as bankruptcy counsel. Merchants Bank of Indiana, as lender, is represented by: Owen R. Wolfe, Esq. Seyfarth Shaw LLP 620 Eighth Avenue New York, NY 10018 Direct Dial: (212) 218-3389 Direct Fax: (917) 344-1394 Email: owolfe@seyfarth.com WOLYNIEC CONSTRUCTION: Seeks Chapter 11 Bankruptcy in Pennsylvania ------------------------------------------------------------------ On March 31, 2025, Wolyniec Construction Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Pennsylvania. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Wolyniec Construction Inc. Wolyniec Construction Inc. is a construction company based in Williamsport, Pennsylvania. Wolyniec Construction Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-00881) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Robert E. Chernicoff, Esq. at Cunningham And Chernicoff PC. WYNN TEC: Capehart Represents Hanmi Bank & Midland States --------------------------------------------------------- The law firm of Capehart & Scatchard, P.A. ("C&S") filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 case of Wynn Tec Inc., the firm represents: 1. Hanmi Bank located at 210 Main Street, Suite 590, Irvine, CA 92614. 2. Midland States Bank located at 1801 Park 270 Drive, Suite 200, St. Louis, MO 63146. Each of the creditors' claims arose solely by virtue of the creditor's contractual, statutory, and/or common law rights with the Debtor and by operation of law. On July 19, 2024, the Debtor entered into an Equipment Finance Agreement with Hanmi's predecessor to finance the purchase of various equipment in exchange for payment, which has not been made. Between May 5, 2022 and August 10, 2023, the Debtor entered into four Equipment Finance Agreements with Midland to finance the purchase of various equipment in exchange for payment, which has not been made. The creditors each approached C&S requesting representation at different times following the commencement of this case. C&S does not presently own, nor has it previously owned, any claims or interests against the Debtor. The law firm can be reached at: CAPEHART & SCATCHARD, P.A. A Professional Corporation Sergio I. Scuteri, Esq. 8000 Midlantic Drive, Suite 300-S Mt. Laurel, NJ 08054 Tel. (856) 234-6800 Fax (856) 235-2786 Email: sscuteri@capehart.com About Wynn Tec Inc. Wynn Tec Inc. is a small business corporation based in Loganton, Pennsylvania. Wynn Tec Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-00751) on March 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each . Honorable Bankruptcy Judge Mark J. Conway handles the case. The Debtor is represented by: Robert E Chernicoff, Esq. Cunningham and Chernicoff PC 2320 North Second Street Harrisburg, PA 17110 Phone: 717-238-6570 Fax: 717-238-4809 YIHE FORBES: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: Yihe Forbes LLC 122A East Foothill Blvd No 4 Arcadia, CA 91006 Business Description: Yihe Forbes LLC owns four properties in Chelsea, MA, with a combined current value of $22.98 million. Chapter 11 Petition Date: April 3, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-12772 Judge: Hon. Neil W Bason Debtor's Counsel: Richard Baum, Esq. RICHARD T. BAUM 6627 Maryland Drive Los Angeles, CA 90048 Tel: (310) 277-2040 Fax: (310) 286-9525 Email: rickbaum@hotmail.com Total Assets: $22,978,500 Total Liabilities: $13,540,869 The petition was signed by Jainfeng He as president of the Managing Member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VVXULOQ/Yihe_Forbes_LLC__cacbke-25-12772__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Five Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Jianglian Li $1,100,000 46-54 Harbour Street Unit 507 Mosman, NSW Australia 2088 2. M Profound Pty Ltd. $2,500,000 17 Castlereagh Street Suite 502 Sydney, NSW Australia 2000 3. Rich Noble Holdings $275,000 Room 4102 Hong Kong Plaza Caught Road West Hong Kong, China 4. Xia Hua $1,300,000 46-54 Harbour Street Unit 102 Mosman, NSW Australia 2088 5. Yihe Australia Pty Ltd. $7,300,000 46-54 Harbour Street Shop 2 Mosman, NSW Australia 2088 YOGI INTERNATIONAL: Taps Alliance and Camelot Realty as Broker -------------------------------------------------------------- Yogi International, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Alliance Investments Real Estate Group as real estate agent and Camelot Realty Group as real estate broker. The Debtor's primary assets are 2 parcels of land and 2 warehouses located in Baytown, Texas and Pasadena, Texas, described as: 2956 Preston Ave., Pasadena, Texas, 77503; 2950 Preston Ave., Baytown, Texas, 77520; 0 Preston Ave., Pasadena, Texas, 77505; and 0 Tulip Ave., Pasadena, Texas, 77503. The firm will render these services: a. use reasonable efforts to act diligently to market the Property for sale, procure a buyer, and negotiate the sale of the Assets; b. advertise the assets through means including but not limited to, placing a "For Sale" sign, creating or placing information, internet; and c. disseminate information about the assets to other realtors and prospects, including applicable disclosures, and notices concerning the debtor's property. d. marketing and advertisement of the assets in order to procure potential buyers; and e. assist the Debtor with real estate strategy. Alliance and Camelot shall be compensated in the form of a 5.5 percent commission of the sales price with Camelot Realty receiving a 20 percent commission of the compensation and remaining fee to be paid to Alliance Investment Real Estate Group. As disclosed in the court filings, Alliance and Camelot do not hold or represent an interest adverse to the Debtor or the Debtor's estates. The firms can be reached through: Thomas Cervone Camelot Realty Group 4306 Yoakum Blvd. Suite 430 Houston, TX 77006 Phone: (713) 201-7488 Email: tom@camelothouston.com - and - Ruben Khorsandi Alliance Investment Real Estate Group 4425 Jamboree Road, Suite 240 Newport Beach, CA 92660 Phone: (949) 250-0400 About Yogi International Yogi International, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-30233) on January 12, 2025. In the petition signed by Kirpal Singh, member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the case. The Debtor tapped Tran Singh, LLP as counsel and Christopher Quinn as chief restructuring officer. ZAHRCO ENTERPRISES: Seeks Subchapter V Bankruptcy in Florida ------------------------------------------------------------ On April 2, 2025, Zahrco Enterprises Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filing, the Debtor reports $2,591,821 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Zahrco Enterprises Inc. Zahrco Enterprises Inc. operates two restaurants located in Coral Gables, Florida, on leased properties. Zahrco Enterprises Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla.Case No. 25-13628) on April 2, 2025. In its petition, the Debtor reports total assets of $72,679 and total liabilities of $2,591,821. Honorable Bankruptcy Judge Corali Lopez-Castro handles the case. The Debtor is represented by Kris Aungst, Esq. at PARAGON LAW, LLC. ZMETRA LAND: Court Extends Cash Collateral Access to May 8 ---------------------------------------------------------- Zmetra Land Holdings, LLC received interim approval from the U.S. Bankruptcy Court for the District of Massachusetts to use the cash collateral of Newtek Small Business Finance, LLC until May 8. The interim order authorized the company to use up to $107,861.37 in cash collateral to pay the expenses set forth in its budget, with a 10% variance allowed. As protection, Newtek was granted a continuing replacement lien and security interest in all assets of Zmetra to secure any diminution in value of its collateral. In addition, Newtek will receive monthly payment of $25,823. A final hearing is set for May 8, with objections due by May 6. About Zmetra Land Holdings Zmetra Land Holdings, LLC specializes in property management, overseeing the operations, maintenance, and leasing of real estate assets. It owns a 35,000-square-foot industrial facility located at 2 Old Worcester Road, Webster, Mass. The property is valued at $2.5 million. Zmetra filed Chapter 11 petition (Bankr. D. Mass. Case No. 25-40127) on February 4. In its petition, Zmetra reported total assets of $2,962,284 and total debts of $3,085,001. James L. O'Connor, Esq., at Nickless, Phillips and O'Connor, represents the Debtor as legal counsel. Newtek Small Business Finance, LLC, as lender, is represented by: Jonathan M. Hixon, Esq. Hackett Feinberg P.C. 155 Federal Street, 9th Floor Boston, MA 02110 Email: jmh@bostonbusinesslaw.com ZOYA AB MANAGEMENT: Case Summary & One Unsecured Creditor --------------------------------------------------------- Debtor: Zoya AB Management, LLC 355 Kings Highway Apt 5F Brooklyn, NY 11223 Business Description: Zoya AB Management is the owner of the property at 355 Kings Highway, Unit 5F, Brooklyn, NY 11223, which has an estimated value of $1.04 million. Chapter 11 Petition Date: April 1, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-41607 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Alla Kachan, Esq. LAW OFFICES OF ALLA KACHAN, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel: (718) 513-3145 Fax: (347) 342-3156 E-mail: alla@kachanlaw.com Total Assets: $1,040,400 Total Liabilities: $689,000 The petition was signed by Albert Benjamin as president. The Debtor has identified the NYS Department of Taxation, ATTN: Office of Counsel, Building 9, W A Harriman Campus, Albany, NY 12227, as its only unsecured creditor, with a claim of $40,000 for real estate taxes. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EQZVDJA/Zoya_AB_Management_LLC__nyebke-25-41607__0001.0.pdf?mcid=tGE4TAMA ********* 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. 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