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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, April 9, 2025, Vol. 29, No. 98

                            Headlines

2809 W. 8TH ST: Mark Sharf Named Subchapter V Trustee
301 W NORTH AVENUE: Seeks Chapter 11 Bankruptcy in Illinois
316-318 GUILFORD: Case Summary & One Unsecured Creditor
903 LAKE FRONT: Claims Will be Paid from Property Sale/Refinance
92 RYERSON STREET: Seeks Chapter 11 Bankruptcy in New York

ADITXT INC: Posts Larger Net Loss of $35.02 Million in 2024
AETIUS COMPANIES: Court OKs Continued Cash Collateral Access
AG PARENT: Moody's Withdraws 'B3' CFR Following Debt Repayment
ALLECOM CORP: Gets Interim OK to Use Cash Collateral Until May 25
APPLE CENTRAL: Court Extends Cash Collateral Access to June 30

AQUA METALS: Reports $24.56M Net Loss, No Revenue in 2024
AVILLA MOTOR: Case Summary & 20 Largest Unsecured Creditors
B.L.H.G. GROUP: Ted Burr Named Subchapter V Trustee
BENSON HILL: U.S. Trustee Appoints Creditors' Committee
BOXLIGHT CORP: Cuts Net Loss to $28.34 Million in 2024

BRECKLING LLC: Seeks Chapter 11 Bankruptcy in New York
C & C ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
C & C FREIGHT: Case Summary & 20 Largest Unsecured Creditors
CALI NAILS 02: Unsecureds to Get Share of Income for 36 Months
CAPO 35191: Seeks Chapter 11 Bankruptcy in California

CITIUS PHARMACEUTICALS: Amends License Deal with Eisai for Payments
COMPACT BRICK: Amends Plan to Include PNC Bank Secured Claims Pay
CPIF LA ARTS: Case Summary & Three Unsecured Creditors
CREDITO REAL SAB: Court Grants Chapter 15 Recognition
CRESTWOOD HOSPITALITY: Gets Cash Collateral Extension Until June 30

DEL MONTE INVEST: Case Summary & Three Unsecured Creditors
DP AUTO SALES: Eric Terry Named Successor Subchapter V Trustee
DRAKSIN PROPERTIES: Francis Brennan Named Subchapter V Trustee
ELNUNU MEDICAL: Court Directs U.S. Trustee to Appoint PCO
EOS ENERGY: Awaits Final Judgment in Houck Class Suit

EZ ROLL CASTERS: Gets OK to Use SBA's Cash Collateral
FCA CONSTRUCTION: Updates Unsecured Claims Pay; Files Amended Plan
FIGUEROA TELEPHONE: Seeks Chapter 11 Bankruptcy in Puerto Rico
FLECK REAL ESTATE: Unsecureds to Get 100 Cents on Dollar in Plan
FOOTBALL NATION: Court OKs Bidding Rules for Acquired Asset Sale

FRANCHISE GROUP: Judge Considers Postponing Chapter 11 Plan Hearing
FTAI INFRASTRUCTURE: S&P Alters Outlook to Stable, Affirms 'B-' ICR
GENUINE GENIUS: Seeks Chapter 11 Bankruptcy in Nevada
GIRARDI & KEESE: Tom's Prison Option Hearing Postponed to May
GLOBAL CONCESSIONS: Seeks Chapter 11 Bankruptcy in Georgia

GOEROE'S GOLDENS: Updates Unsecured Claims Pay; Files Amended Plan
GOL LINHAS: Court Approves Disclosure Statement
GOL LINHAS: May 20 Chapter 11 Plan Confirmation Hearing Set
GOL LINHAS: Says Court Okays Deal with Boeing
HOSPITALITY AT YORK: Voluntary Chapter 11 Case Summary

HOUSE SPIRITS: Case Summary & 14 Unsecured Creditors
IDEAL HEALTH: Gets Final OK to Use Cash Collateral Until July 31
INDIVIDUALIZED ABA: Quality of Care Maintained, 2nd PCO Report Says
INNOVATIVE DESIGNS: Reports $36,202 Net Income in Q1 2025
INRI LANDSCAPE: Gets Final OK to Use Cash Collateral

IRON WORKS: Michael Wheatley Named Subchapter V Trustee
JOYE MEDIA: S&P Withdraws 'B-' Issuer Credit Rating
JUBILANT FLAME: Posts $60K Loss in 2024, Has 'Going Concern' Doubts
KAISER ALUMINUM: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable
KIRCHOFF OIL: Janice Seyedin Named Subchapter V Trustee

KOHL'S CORP: Fitch Lowers IDR to 'BB-', Outlook Negative
LEFEVER MATTSON: Inks Deal to Use Freddie Mac's Cash Collateral
LEISURE INVESTMENTS: 1st Hearing Focuses on Animals' Welfare, Care
LUCAS CONSTRUCTION: U.S. Trustee Appoints Creditors' Committee
MAVERICK ACQUISITION: Carlyle Marks $42.7M 1L Loan at 27% Off

MCCLAIN FAMILY: Arturo Cisneros Named Subchapter V Trustee
MEIR BERNSTEIN: Seeks Chapter 11 Bankruptcy in New York
MENORAH CAMPUS: U.S. Trustee Appoints Michele McKay as PCO
MOGA TRANSPORT: Unsecureds Will Get 100% of Claims over 60 Months
NAVACORD INTERMEDIATE: Fitch Affirms B LongTerm IDR, Outlook Stable

NIKOLA CORP: Investors' Suit Moves Forward After Failed Settlement
PARADIGM PARENT: Moody's Rates New $1BB Sec. First Lien Notes 'B2'
PB RESTAURANTS: Seeks Subchapter V Bankruptcy in Florida
PIVOTAL ANAYLTICS: Case Summary & 20 Largest Unsecured Creditors
PLANO SMILE: Gets Final OK to Use Cash Collateral Until June 9

PRESBYTERIAN HOMES: No Resident Complaints, 1st PCO Report Says
PRO-FIT BASKETBALL: Section 341(a) Meeting of Creditors on May 8
QUICKSILVER PROPERTIES: Beverly Brister Named Subchapter V Trustee
REMEMBER ME: U.S. Trustee Appoints Stacy Lynn Archer as PCO
RESHAPE LIFESCIENCES: Narrows Net Loss to $7.13 Million in 2024

ROCKET SOFTWARE: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
RONBON LLC: Case Summary & 20 Largest Unsecured Creditors
SAS GROUP: Unsecureds Will Get .095% of Claims in Liquidating Plan
SAVAGE ENTERPRISES: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable
SBA COMMUNICATIONS: S&P Raises Sr. Unsecured Debt Rating to 'BB+'

SBLA INC: Soneet Kapila Named Subchapter V Trustee
SILVER AIRWAYS: Gets Extension to Access Cash Collateral
SILVERGATE CAPITAL: Ch. 11 Examiner Raises Investigation Issues
SLATER PARK: Seeks to Extend Plan Exclusivity to June 22
STICKY FINGERS: U.S. Trustee Unable to Appoint Committee

SWITCHBACK COFFEE: Gets Extension to Access Cash Collateral
TRANS AMERICAN: $4M Sale to Smith and Sons to Fund Plan
TRINSEO PLC: Redeems All 2029 Senior Notes, Discharges Indenture
TSFG LLC: Seeks Chapter 11 Bankruptcy in Georgia
UNIVERSAL BIOCARBON: Gets Extension to Access Cash Collateral

VANTAGE POINT: Seeks Chapter 11 Bankruptcy in Wisconsin
VARENNES CELLULOSIC: Get CCAA Initial Stay Order; E&Y as Monitor
VIRGINIA BEACH: Paula Beran Named Subchapter V Trustee
VITRO BIOPHARMA: Posts $2.8M Loss in Q1, Raises Going Concern Doubt
WATTS CHOPPING: Gets OK to Use Cash Collateral Until April 30

WELLPATH HOLDINGS: Amends Unsecured Claims Pay Details
WILLIAM H. ZIEGENBALQ: Gets Interim OK to Use Cash Collateral
WORLD BRANDS: Creditors to Get Proceeds From Liquidation
YELLOW CORP: Gets Judge Goldblatt's Pension Claims Dispute Guidance
YIHE FORBES: Seeks Chapter 11 Bankruptcy in California

YOUR BATH: Lisa Rynard Named Subchapter V Trustee
ZION INC: Faces $7.34M Net Loss in 2024, Issues Profit Warning
ZION OIL: CFO Croswell Takes on President Role, Kness Appointed COO
ZOYA AB MANAGEMENT: Sec. 341(a) Meeting of Creditors on May 12

                            *********

2809 W. 8TH ST: Mark Sharf Named Subchapter V Trustee
-----------------------------------------------------
The U.S. Trustee for Region 17 appointed Mark Sharf, Esq., a
practicing attorney in Los Angeles, as Subchapter V trustee for
2809 W. 8th St. LLC.

Mr. Sharf will charge $660 per hour for his services as Subchapter
V trustee and $150 per hour for his trustee administrator's
services. In addition, the Subchapter V trustee will seek
reimbursement for work-related expenses incurred.

Mr. Sharf declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Mark Sharf, Esq.
     6080 Center Drive, 6th Floor
     Los Angeles, CA 90045
     Telephone: (323) 612-0202
     Email: mark@sharflaw.com

                     About 2809 W. 8th St. LLC

2809 W. 8th St. LLC is a debtor with a single real estate asset, as
outlined in 11 U.S.C. Section 101(51B).

2809 W. 8th St. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11886) on March 10,
2025. In its petition, the Debtor reported total assets of
$3,729,300 and total liabilities of $3,040,000.

Judge Barry Russell handles the case.

The Debtor is represented by:

     Denise Moore, Esq.
     The Law Offices of Denise Moore
     4735 W. Washington Blvd.
     Los Angeles, CA 90016
     Tel: (213) 706-9759
     Email: atty.d.mo1978@gmail.com


301 W NORTH AVENUE: Seeks Chapter 11 Bankruptcy in Illinois
-----------------------------------------------------------
On April 5, 2025, 301 W North Avenue LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Illinois. 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 301 W North Avenue LLC

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.

301 W North Avenue LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-05275) on April 5,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million to $50 million each.

Honorable Bankruptcy Judge Timothy A. Barnes handles the case.

The Debtor is represented by Robert Glantz, Esq. ROBERT GLANTZ MUCH
SHELIST, P.C.


316-318 GUILFORD: Case Summary & One Unsecured Creditor
-------------------------------------------------------
Debtor: 316-318 Guilford Ave LLC
        3807 Barrington Rd.
        Baltimore, MD 21215-5407

Business Description: 316-318 Guilford Ave LLC is a single-asset
                      real estate company, as defined under 11
                      U.S.C. Section 101(51B).  The Debtor owns
                      the property located at 316 Guilford Ave,
                      Baltimore, MD 21202-3609, which is currently
                      valued at $2.1 million.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       District of Maryland

Case No.: 25-12961

Judge: Hon. David E Rice

Debtor's Counsel: Gary S Poretsky, Esq.
                  THE LAW OFFICES OF GARY S PORETSKY, LLC
                  6 Church Ln
                  Pikesville, MD 21208-3708
                  Tel: (443) 738-5432
                  E-mail: gary@plgmd.com

Total Assets: $2,100,000

Total Liabilities: $2,215,875

Larry Young, as member, signed the petition.

The Debtor has listed the Mayor and City Council of Baltimore,
located at 200 Holliday St, Room #1, Baltimore, MD 21202-3618, as
its only unsecured creditor, with a claim amounting to $115,875.

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

https://www.pacermonitor.com/view/LJVUP2A/316-318_Guilford_Ave_LLC__mdbke-25-12961__0001.0.pdf?mcid=tGE4TAMA


903 LAKE FRONT: Claims Will be Paid from Property Sale/Refinance
----------------------------------------------------------------
WCP Fund I LLC as Servicer for Pacific RBLF Funding Trust submitted
a Disclosure Statement describing Chapter 11 Plan for 903 Lake
Front Drive, LLC dated March 12, 2025.

The Plan is one that calls for liquidation and dissolution of the
Debtor. The Plan also calls for the payment, in full, of priority
tax creditors of the Estate, and payment of all allowed
administrative expense claims of the Estate.

The Plan provides for the Real Estate to be sold or refinanced by
the Debtor on or before July 7, 2025 and, should such a sale or
refinancing not occur, for the Real Estate to be auctioned on the
courthouse steps, with a starting bid of $400,000.00. The required
deposit to bid is $150,000.00, though WCP is not required to post a
deposit and is permitted to credit bid its claim.

The Plan further provides for cash raised through the auction (if
any, a successful credit bid by WCP would result in no additional
cash entering the Debtor's estate), coupled with the Debtor's cash
on hand, to be distributed to creditors in accord with the
governing priority scheme. The Successful Bidder at the Auction
will also be required to deposit $10,000.00 into the Reserve Fund,
with those funds being used to pay administrative expenses. Even if
WCP is the Successful Bidder, and the Successful Bid is purely a
credit bid, WCP will be required to finance the Reserve Fund.

The Plan further provides that if the Auction is to occur (i.e., if
the Debtor does not first succeed in selling or refinancing the
Real Estate), the Real Estate is to be free of occupants not later
than 12:01 am on July 8, 2025. To enforce this provision, the Plan
provides that the Successful Bidder at an Auction, upon closing,
shall become entitled to pursue an action for turnover of the Real
Estate.

The Plan provides for the following classifications of creditors'
claims:

     * Class 1 consists of all secured claims held by WCP against
the Debtor. It is anticipated this class will be paid in part, but
not full, under the Plan.

     * Class 2 consists of the allowed Secured Claim of Prince
George's County, Maryland in an amount owed, as of the Petition
Date, of $8,205.83. Class 2 will be paid, in full, under the Plan.


     * Class 3 consists of Allowed Unsecured Claims. It is not
believed that there exist any general unsecured Claims in this
case. To the extent any such Claims are subsequently recognized,
they will be placed in Class 3. It is not reasonably believed Class
3 will take anything under the Plan.

     * Class 4 consists of Equity Interest. This class shall
receive any proceeds of a sale of the Real Estate after the payment
of all other classes.

The Plan provides for a liquidation of the Debtor's assets, should
all claims not be paid in full by July 7, 2025, and is thusly
feasible.

The Plan provides the Debtor to and through July 7, 2025 to sell or
refinance the Real Estate, if such a sale or refinancing raises
funds sufficient to pay all claims in full. Should such occur, all
claims will be paid at closing.

The Plan provides for the Real Estate to be auctioned, with a
closing to occur within three Business Days of the auction. WCP is
permitted to credit bid its Claim at the auction; any other bidder
would need to post a deposit of $150,000.00. The opening bid shall
be $400,000.00.

Should the Real Estate be auctioned, the Plan provides for the
Successful Bidder to become entitled to pursue an action for
turnover, under Section 542 of the Bankruptcy Code, to ensure the
Real Estate is delivered free of occupants.

A full-text copy of the Disclosure Statement dated March 12, 2025
is available at https://urlcurt.com/u?l=o5JUw8 from
PacerMonitor.com at no charge.

Counsel for WCP Fund I LLC:

     Maurice B. VerStandig, Esq.
     The VerStandig Law Firm, LLC
     1452 W. Horizon Ridge Pkwy, #665
     Henderson, Nevada 89012
     Phone: (301) 444-4600
     Facsimile: (301) 444-4600
     Email: mac@mbvesq.com

      About 903 Lake Front Drive

903 Lake Front Drive, LLC, was formed as a Maryland limited
liability company on October 27, 2021.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 24-11815) on March 4, 2024,
with $500,001 to $1 million in assets and liabilities.

Judge Maria Ellena Chavez-Ruark presides over the case.

Charles Earl Walton, Esq., at Walton Law Group, Llc, is the
Debtor's legal counsel.


92 RYERSON STREET: Seeks Chapter 11 Bankruptcy in New York
----------------------------------------------------------
On April 2, 2025, 92 Ryerson Street LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District
of New York. 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 92 Ryerson Street LLC

92 Ryerson Street LLC is a real estate debtor with only one asset,
as defined in 11 U.S.C. Section 101(51B).

92 Ryerson Street LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41634) on April 2,
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 Nancy Hershey Lord handles the case.

The Debtor is represented by Btzalel Hirschhorn, Esq. at SHIRYAK,
BOWMAN, ANDERSON, GILL & KADOCNIKOV, LLP.


ADITXT INC: Posts Larger Net Loss of $35.02 Million in 2024
-----------------------------------------------------------
Aditxt, Inc. submitted its annual report on Form 10-K to the
Securities and Exchange Commission, reporting a net loss of $35.02
million on revenue of $133,985 for the year ending Dec. 31, 2024,
compared to a net loss of $32.39 million on revenue of $645,176 for
the year ending Dec. 31, 2023.

The Company has experienced significant operating losses since its
inception and expects to continue incurring substantial losses for
the foreseeable future, with no guarantee of achieving
profitability.  As of Dec. 31, 2024, the Company reported an
accumulated deficit of $168,094,569 and had a working capital of
$(21,407,282).  Additionally, the Company made no purchases of
fixed assets during the year ended Dec. 31, 2024.

As of Dec. 31, 2024, Aditxt had $32.14 million in total assets,
$23.86 million in total liabilities, $8.37 million in total
mezzanine equity, and a total stockholders' deficit of $86,604.

In its report dated March 31, 2025, the Company's auditor
dbbmckennon, issued a "going concern" qualification citing that the
Company's net losses and negative cash flow from operations raise
substantial doubt about its ability to continue as a going
concern.

The Company stated that it will need a considerable amount of
additional funding to continue its regular operations and support
long-term clinical studies.  The Company believes that its current
available funds will not be enough to sustain operations for the
next 12 months, raising significant uncertainty about its ability
to remain operational beyond the next year.

Aditxt mentioned it may seek to raise capital by selling common
stock, preferred stock, or convertible debt securities, securing a
credit facility, or pursuing other forms of third-party funding or
debt financing.  Additionally, the Company may explore raising
funds through collaborative agreements or government grants.

"The sale of equity and convertible debt securities may result in
dilution to our stockholders and certain of those securities may
have rights senior to those of our common shares," the Company
disclosed.  "If we raise additional funds through the issuance of
preferred stock, convertible debt securities, or other debt
financing, these securities or other debt could contain covenants
that would restrict our operations.  Any other third-party funding
arrangement could require us to relinquish valuable rights."

Aditxt cautioned that the lack of necessary funds may require it
to, among other things, delay, scale back or eliminate expenses
including some or all planned development, including clinical
trials.

The complete text of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1726711/000121390025026256/ea0235549-10k_aditxt.htm

                          About Aditxt

Headquartered in Mountain View, CA, Aditxt, Inc. is a social
innovation platform focused on accelerating the development of
promising health solutions.  By fostering collaboration among
research institutions, industry partners, and shareholders, the
Company drives disruptive growth and addresses significant societal
challenges in healthcare.  Aditxt's unique ecosystem democratizes
innovation, ensuring diverse stakeholder participation and
empowering collective progress in creating impactful health
innovations.


AETIUS COMPANIES: Court OKs Continued Cash Collateral Access
------------------------------------------------------------
Aetius Companies, LLC and affiliates got the green light from the
U.S. Bankruptcy Court for the Western District of North Carolina,
Charlotte Division, to continue using cash collateral.

The companies' continued use of cash collateral is subject to those
requirements and conditions as set forth in the court's previous
cash collateral order entered on Dec. 23, 2024.

The next hearing is set for May 21. Any objection to the companies'
continued use of
cash collateral must be filed and served no less than seven days
prior to the hearing.  

                      About Aetius Companies LLC     

Aetius Companies, LLC and affiliates operate a restaurant chain.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. N.C. Lead Case No. 23-30470) on July
19, 2023. At the time of the filing, Aetius Companies reported
between $10 million and $50 million in both assets and
liabilities.

Judge Craig Whitley oversees the cases.

The Debtors are represented by:

   Robert A. Cox, Jr., Esq.
   Hamilton Stephens Steele & Martin, PLLC
   525 North Tryon Street, Suite 1400
   Charlotte, NC 28202
   Tel: (704) 344-1117
   rcox@lawhssm.com


AG PARENT: Moody's Withdraws 'B3' CFR Following Debt Repayment
--------------------------------------------------------------
Moody's Ratings has withdrawn AG Parent Holdings, LLC's
(ArisGlobal) B3 Corporate Family Rating, B3-PD Probability of
Default Rating, B3 ratings on the backed senior secured first lien
bank credit facilities, and Caa2 rating on the backed senior
secured second lien term loan. The outlook prior to the withdrawal
was stable.

RATINGS RATIONALE

Moody's have withdrawn the ratings because ArisGlobal's debt
previously rated by us have been fully repaid. This follows the
refinancing of its existing senior secured bank credit facilities,
including $227.4 million outstanding senior secured first lien term
loan due 2026 and $26 million outstanding senior secured second
lien term loan due 2027.

AG Parent Holdings, LLC's (ArisGlobal) develops software that helps
pharmaceutical companies and government regulators monitor and
analyze safety and compliance information after the launch of a
drug. Private equity firm Nordic Capital owns approximately 95% (on
an undiluted basis) of the company's common equity as the result of
a mid-2019 leveraged buyout.


ALLECOM CORP: Gets Interim OK to Use Cash Collateral Until May 25
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
granted Allecom Corp. interim authorization to use cash
collateral.

The interim order authorized the company to use cash collateral
until May 25 to pay the expenses set forth in its budget, with a 5%
variance allowed.

The budget projects total monthly operational expenses of
$$11,059.

As protection, secured creditors with valid liens as of the
petition date were granted replacement liens on post-petition
assets in case of any diminution in value of their collateral.

The next hearing is scheduled for May 2.

                     About AllEcom Corp.

AllEcom Corp. is a subcontractor for FedEx, providing specialized
services to support its operations.

AllEcom sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. S.D. Texas Case No. 25-31569) on March 24, 2025. In its
petition, the Debtor reported total assets of $306,082 and total
debts of $3,310,215.

Judge Eduardo V. Rodriguez oversees the case.

The Debtor is represented by:

    Anabel King, Esq.
    Wauson King
    52 Sugar Creek Center Blvd., Suite 325
    Sugar Land, TX 77478
    Tel: 281-242-0303
    Email: aking@w-klaw.com


APPLE CENTRAL: Court Extends Cash Collateral Access to June 30
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Kansas extended Apple
Central KC, LLC's authority to use cash collateral from March 31 to
June 30 to support operations and potential sale of its two
remaining restaurants.

Equity Bank, a secured creditor, was granted replacement security
interests in and liens on all post-petition acquired property of
the company that is the same type of property that the bank holds a
pre-bankruptcy interest, lien, or security interest.

Apple must make payments to avoid triggering a default under the
bank's $500,000 letter of credit with AGA Kansas City, LLC.

In addition, Equity Bank will be granted an administrative expense
claim in the event that the replacement liens prove inadequate to
protect the bank from any diminution in the value of its
collateral.

The order remains effective until June 30 unless the company
breaches its obligations.

Equity Bank is represented by:

   Nicholas J. Zluticky, Esq.
   Stinson LLP
   1201 Walnut, Suite 2900  
   Kansas City, MO 64106  
   Telephone: (816) 842-8600  
   Facsimile: (816) 691-3495  
   nicholas.zluticky@stinson.com

                      About Apple central KC

Apple Central KC LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Kan. Case No. 24-21427) on October 30,
2024. In the petition signed by Michael Rummel, authorized
signatory, the Debtor disclosed up to $10 million in assets and up
to $50 million in liabilities.

Judge: Dale L Somers oversees the case.

Frank Wendt, Esq., at Brown & Ruprecht, PC represents the Debtor as
legal counsel.


AQUA METALS: Reports $24.56M Net Loss, No Revenue in 2024
---------------------------------------------------------
Aqua Metals, Inc. closed out 2024 with a net loss of $24.56
million, marking a slight increase from the previous year's loss of
$23.94 million.  The Company has not generated significant revenues
from commercial operations during the two years ending Dec. 31,
2024, and 2023, aside from nominal sales of lead finished goods,
and anticipates continuing to incur losses for the foreseeable
future.

As of Dec. 31, 2024, the Company had $26.37 million in total
assets, $10.12 million in total liabilities, and $16.24 million in
total stockholders' equity.

The Company had cash and cash equivalents of approximately
$4,079,000, a working capital deficit of approximately
$(3,538,000), and an accumulated deficit of $247,770,000 as of Dec.
31, 2024.  In addition to cash required to fund operating
activities, within the next 12 months, the Company will be required
to pay cash to settle notes payable of $3,000,000 on April 27, 2025
and $1,500,000 on
Dec. 31, 2025.

"There can be no assurance that we will be able to acquire the
necessary funding on commercially reasonable terms or at all," the
Company admitted.  "We intend to seek funds through the sale of
equity or debt financing.  Funding that includes the sale of our
equity may be dilutive.  If such financing is not available on
satisfactory terms, we may be unable to further pursue our business
plan and we may be unable to continue operations."

In its report dated March 31, 2025, the Company's auditor Forvis
Mazars, LLP, issued a "going concern" qualification citing that the
Company has incurred substantial operating losses and negative cash
flows from operations since inception that raise substantial doubt
about its ability to continue as a going concern.

As of March 31, 2025 (the date of this report), the Company
anticipates needing additional capital to cover its current ongoing
costs over the next twelve months and to continue pursuing its
current business strategy.

Management believes that the Company does not have sufficient
capital resources to sustain operations through at least the next
twelve months from the date of this filing.  Additionally, in view
of the Company's expectation to incur significant losses for the
foreseeable future, it will be required to raise additional capital
resources in order to fund its operations, although the
availability of, and the Company's access to such resources, is not
assured.

This information was disclosed in Aqua Metals, Inc.'s Annual Report
on Form 10-K, filed with the Securities and Exchange Commission.  A
complete copy of the Report is available for free at:

https://www.sec.gov/Archives/edgar/data/1621832/000143774925010177/aqms20241231_10k.htm

                           About Aqua Metals

Aqua Metals, Inc. -- www.aquametals.com -- is reinventing metals
recycling with its patented AquaRefining technology.  The Company
is pioneering a sustainable recycling solution for materials
strategic to energy storage and electric vehicle manufacturing
supply chains. AquaRefining is a low-emissions, closed-loop
recycling technology that replaces polluting furnaces and hazardous
chemicals with electricity-powered electroplating to recover
valuable metals and materials from spent batteries with higher
purity, lower emissions, and minimal waste.  Aqua Metals is based
in Reno, NV and operates the first sustainable lithium battery
recycling facility at the Company's Innovation Center in the
Tahoe-Reno Industrial Center.


AVILLA MOTOR: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Avilla Motor Works, Inc.
        228 E 4th St
        Avilla, IN 46710

Business Description: Avilla Motor Works is a full-service
                      automotive company specializing in towing,
                      roadside assistance, and auto repairs.  The
                      Company provides services for a wide range
                      of vehicles, including cars, trucks,
                      motorcycles, and heavy-duty trucks, across
                      Indiana, Michigan, and Ohio.  The Company is
                      known for its emergency services, mechanical
                      diagnostics, and vehicle transport,
                      operating 23 hours a day, seven days a week.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       Northern District of Indiana

Case No.: 25-10433

Debtor's Counsel: Scot T. Skekloff, Esq.
                  HALLERCOLVIN PC
                  444 East Main Street
                  Fort Wayne, IN 46802
                  Tel: (260) 426-0444
                  Fax: (260) 422-0274
                  E-mail: sskekloff@hallercolvin.com

Total Assets: $636,483

Total Liabilities: $2,344,190

Royce E. Thacker II, in his capacity as CEO, 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/ORKMTIY/Avilla_Motor_Works_Inc__innbke-25-10433__0001.0.pdf?mcid=tGE4TAMA


B.L.H.G. GROUP: Ted Burr Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Region 17 appointed Ted Burr of Mac
Restructuring Advisors, LLC as Subchapter V trustee for The
B.L.H.G. Group, LLC.

Mr. Burr 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. Burr declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Ted Burr
     Mac Restructuring Advisors, LLC
     10191 E. Shangri La Road
     Scottsdale, AZ 85260
     Phone: (602) 418-2906
     Email: Ted@macrestructuring.com

                     About The B.L.H.G. Group

The B.L.H.G. Group, LLC, doing business as Smile Now Dental
Implant, is a dental practice based in Phoenix, Ariz., specializing
in dental implants. The center offers a variety of implant
services, including full-mouth dental implants, single implants,
zygomatic implants, and bone grafting. It emphasizes convenience by
providing comprehensive treatment in a single location, utilizing
advanced technology such as CBCT imaging and digital smile design
software. The practice also offers financing options, flexible
scheduling, and same-day solutions for implants.

B.L.H.G. filed Chapter 11 petition (Bankr. D. Ariz. Case No.
25-02029) on March 11, 2025, listing $180,813 in assets and
$2,155,970in liabilities. Blake Austin, manager and member, signed
the petition.

Judge Scott H. Gan oversees the case.

Allan D. NewDelman, Esq., at Allan D. NewDelman, P.C., represents
the Debtor as legal counsel.


BENSON HILL: U.S. Trustee Appoints Creditors' Committee
-------------------------------------------------------
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Benson
Hill, Inc. and its affiliates.

The committee members are:

     1. American Natural Processors, Inc.
        Attn: Sam Jennett
        600 Stevens Port Drive, Suite 325
        Dakota Dunes, SD 57049
        Phone: 605-242-6074
        Email: samj@americannatural.us
  
     2. L7 Informatics, Inc.
        Attn: John Neale
        1219 W. 6th Street
        Austin, TX 78703
        Phone: 805 679-3163
        Email: john.neale@l7informatics.com
  
     3. Anaplan, Inc.
        Attn: Gregory M. Giangiordano
        50 Hawthorne Street
        San Francisco, CA 94105
        Phone: 610-331-8131
        Email: greg.giangiordano@anaplan.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                         About Benson Hill

Benson Hill, Inc. is an ag-tech company focused on innovating soy
protein through advanced genetics. Using its CropOS technology
platform, Benson Hill creates food and feed that are more
nutritious, functional, and produced efficiently, offering
sustainability benefits to the food and feed sectors.

Benson Hill and its affiliates sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Lead Del. Case No. 25-10539) on
March 20, 2025. The petitions were signed by Daniel Cosgrove as
interim chief executive officer. In the petitions, the Debtors
reported total assets of $137,542,000 and total debts of
$110,701,000.

Judge Thomas M. Horan handles the cases.

The Debtors tapped Faegre Drinker Biddle & Reath, LLP as bankruptcy
counsel; Piper Sandler as investment banker; Meru, LLC as financial
advisor; and Stretto, Inc. as claims and noticing agent.


BOXLIGHT CORP: Cuts Net Loss to $28.34 Million in 2024
------------------------------------------------------
Boxlight Corporation filed its annual report on Form 10-K with the
Securities and Exchange Commission, reporting a net loss of $28.34
million on net revenues of $135.89 million for the year ending Dec.
31, 2024, compared to a net loss of $39.16 million on net revenues
of $176.72 million for the prior year.

For the years ended Dec. 31, 2024 and 2023, the Company incurred
net losses attributable to common stockholders of $29.6 million and
$40.4 million, respectively.

Boxlight mentioned that operating results for future periods are
subject to numerous uncertainties and it cannot be certain that it
will be profitable or that it will not experience further
substantial losses in the future.  If the Company is not able to
increase revenue and reduce costs or otherwise improve margins, it
may not be able to achieve profitability in future periods and its
business, financial condition, results of operations, and cash
flows may be adversely affected.

"We are engaged in the interactive education industry.  We face
substantial competition from developers, manufacturers, and
distributors of interactive learning products and solutions,
including interactive flat-panel displays, interactive whiteboards,
and micro-computer data logging products and any new product we may
offer in the future.  These companies manufacture and/or distribute
new, disruptive or substitute products that compete for the pool of
available funds that previously could have been spent on
interactive displays and associated products," the Company stated.
"If these interactive display competitors or other substitute or
alternative technology competitors acquire significantly increased
market share, it could have a material adverse effect on our
business, financial condition or results of operations."

As of Dec. 31, 2024, the Company had $115.31 million in total
assets, $99.69 million in total liabilities, $28.51 million in
total mezzanine equity, and a total stockholders' deficit of $12.90
million.

As of Dec. 31, 2024, the Company had cash and cash equivalents of
$8.0 million, a working capital balance of $1.3 million, and a
current ratio of 1.02.  At Dec. 31, 2023, the Company had $17.3
million of cash and cash equivalents, a working capital balance of
$54.1 million, and a current ratio of 2.10.

In its report dated March 28, 2025, the Company's auditor, Forvis
Mazars, LLP, issued a "going concern" qualification highlighting
that the Company has identified certain conditions relating to its
outstanding debt and Series B and C Preferred Stock that are
outside the control of the Company.  In addition, the Company has
generated recent losses. These factors, among others, raise
substantial doubt regarding the Company's ability to continue as a
going concern.

                Noncompliance with Financial Covenants and
                       Amendments to Credit Agreement
                       
The Company was non-compliant with the Senior Leverage Ratio
financial covenant under its Credit Agreement for the periods
ending Dec. 31, 2023, June 30, 2024, Sept. 30, 2024, and Dec. 31,
2024, which was waived by the Agent and Lender through amendments.
Additionally, the Company failed to meet the borrowing base
covenant at Dec. 31, 2024.  On March 24, 2025, the Company entered
into an eighth amendment with the Collateral Agent and Lender to
secure a $2.5 million working capital bridge loan and waive any
default events due to financial covenant violations for the periods
ending Dec. 31, 2024, and March 31, 2025, as well as borrowing base
defaults for Dec. 31, 2024, Jan. 31, 2025, and Feb. 28, 2025.  The
bridge loan, including fees, is due in full on Aug. 31, 2025, with
no prepayment penalties.

In addition, the Company's Term Loan, which has an outstanding
balance of $37.6 million as of Dec. 31, 2024, matures on Dec. 31,
2025.  As of Dec. 31, 2024, the Company reclassified all of its
long-term debt to short-term debt due to its maturity date being
within the next 12 months.  The Company explained it is actively
working to refinance its debt with new lenders; however, it cannot
provide assurance that these efforts will be successful before the
maturity date, at which point all amounts under the Term Loan will
become due.

According to the Company, its ability to continue as a going
concern depends on generating positive cash flow from operations,
obtaining waivers for any future non-compliance with the Senior
Leverage Ratio, or refinancing its Credit Agreement with more
favorable terms.  The Company is working with financial advisors to
refinance its debt, but as of the Form 10-K issuance, there are no
signed agreements.  The success of refinancing depends on credit
markets and economic factors beyond the Company's control.  While
the Company has a good relationship with its current lender, there
is no guarantee it will be able to refinance on time, on favorable
terms, or at all.

The Company noted it may be required to seek alternative financing
arrangements or restructure the terms of the agreements with the
Series B and C preferred shareholders on terms that may not be
favorable if cash and cash equivalents are insufficient to fully
redeem the Series B and C preferred shares.  The Company is
currently evaluating alternatives to refinance or restructure the
Series B and C preferred shares, including the option of extending
the maturity of the Series B preferred shares beyond the current
optional conversion date.

The Company stated that, as a result of the aforementioned factors,
cash and cash equivalents, along with anticipated cash flows from
operations, may not provide sufficient liquidity for its working
capital needs, debt service requirements, or to maintain minimum
liquidity requirements under its Credit Agreement.

The full text of the Form 10-K is available for free at:

https://www.sec.gov/Archives/edgar/data/1624512/000162828025015455/boxl-20241231.htm

                      About Boxlight Corporation

Boxlight Corporation, based in Duluth, Georgia, is a technology
company that develops, sells, and services interactive solutions
primarily for the global education market, as well as for corporate
and government sectors.  The Company offers a range of products,
including interactive and non-interactive flat-panel displays, LED
video walls, media players, classroom audio systems, cameras, and
STEM solutions like 3D printing and robotics.  These products are
integrated into a classroom software suite for learning,
assessment, and collaboration.  Boxlight also provides professional
training services to U.S. educational customers.


BRECKLING LLC: Seeks Chapter 11 Bankruptcy in New York
------------------------------------------------------
On April 3, 2025, Breckling LLC filed Chapter 11 protection in the
U.S. Bankruptcy Court for the Eastern District of New York.
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 Breckling LLC

Breckling LLC is a single-asset real estate debtor, as defined in
11 U.S.C. Section 101(51B).

Breckling LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 25-71301) on April 3, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $1 million and $10 million each.

Honorable Bankruptcy Judge Louis A. Scarcella handles the case.

The Debtor is represented by Vivian Sobers, Esq. at SOBERS LAW
PLLC.


C & C ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: C & C Electric, LLC
        877 Seven Oaks Blvd
        Suite 560
        Smyrna, TN 37167

Business Description: C & C Electric, LLC is an electrical
                      contracting business located in Smyrna, TN,
                      offering a wide range of electrical services
                      for both residential and commercial clients,
                      including new construction, remodels,
                      rewires, and electrical repairs.  The
                      Company also specializes in upgrading
                      electrical systems and retrofitting lights
                      to LED.
                   
Chapter 11 Petition Date: April 8, 2025

Court: United States Bankruptcy Court
       Middle District of Tennessee

Case No.: 25-01491

Debtor's Counsel: Jay R. Lefkovitz, Esq.
                  LEFKOVITZ & LEFKOVITZ
                  908 Harpeth Valley Place
                  Nashville, TN 37221
                  Tel: 615-256-8300
                  Fax: 615-255-4516
                  E-mail: jlefkovitz@lefkovitz.com

Total Assets: $81,754

Total Liabilities: $1,670,076

The petition was signed by Mikus Creasy as co-owner.

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/5JXIHEA/C__C_ELECTRIC_LLC__tnmbke-25-01491__0001.0.pdf?mcid=tGE4TAMA


C & C FREIGHT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: C & C Freight Network LLC
        37 Jocelyn Drive
        Braselton, GA 30517

Business Description: C & C Freight Network LLC is an interstate
                      freight carrier based in Braselton, GA,
                      specializing in transporting general
                      freight, refrigerated goods, and paper
                      products using dry van and reefer trailers.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       Northern District of Georgia

Case No.: 25-20475

Judge: Hon. James R Sacca

Debtor's Counsel: Paul Reece Marr, Esq.
                  PAUL REECE MARR, P.C.
                  6075 Barfield Road
                  Suite 213
                  Sandy Springs, GA 30328-4402
                  Tel: (770) 984-2255
                  Fax: (678) 623-5109
                  E-mail: paul.marr@marrlegal.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles Alderman as manager.

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/3UPT7YI/C__C_Freight_Network_LLC__ganbke-25-20475__0001.0.pdf?mcid=tGE4TAMA


CALI NAILS 02: Unsecureds to Get Share of Income for 36 Months
--------------------------------------------------------------
Cali Nails 02, Inc., filed with the U.S. Bankruptcy Court for the
Northern District of Indiana a Plan of Reorganization dated March
11, 2025.

Tai Hoang, the owner and president of Cali Nails 02, incorporated
the Debtor on February 8, 2021, with the Indiana Secretary of
State. The Debtor began operating its nail salon out of the rented
space located at 1511 W. 81st Avenue, Merrillville, Indiana in
February, 2021.

The Debtor has no employees, but rather has independent contractors
who provide nail and salon services to patrons. Prior to filing for
bankruptcy relief, along with an SBA loan, in order to survive
during 2022 through 2024.

Since January 2, 2025, the Debtor has been proceeding as a
Debtor-In-Possession. It is the Debtor's plan to reorganize through
the use of its income through its operations. The Debtor believes
the cash flow through its operations is sufficient to make payments
to creditors pursuant to the terms of this Plan. The Debtor will
continue to provide nail and spa services to its customers at its
Merrillville, Indiana location.

This Plan of Reorganization proposes to pay creditors of the Debtor
from its disposable income.

Class 4 consists of Unsecured and Under-Secured Claims. The Allowed
Claims of this Class shall be paid from the Net Projected
Disposable Income of the Debtor following payment to the above
Classes as provided for in the Plan. The payments to this Class
shall be made by the Debtor in 12 equal quarterly payments,
commencing September 30, 2025, and every three months thereafter
for 36 months. The payments shall be made pro-rata to all Class 4
creditors.

The security interests of any Class 4 creditors shall neither
continue in effect nor attach to the assets of the reorganized
Debtor. All Class 4 claims shall be paid as general unsecured
claims, without interest.

The allowed unsecured claims total $511,029.86.

The Debtor will remain in possession of its property and will
control the operation and disposition thereof unless otherwise
provided in this Plan.

The Debtor will devote full time and energy to the successful
completion of the Plan. The Debtor has sufficient assets or income
to meet the payment provision of the Plan.

A full-text copy of the Plan of Reorganization dated March 11, 2025
is available at https://urlcurt.com/u?l=OSV9IA from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Sheila A. Ramacci, Esq.
     Daniel L. Freeland & Associates, P.C.
     9105 Indianapolis Blvd.
     Highland, IN 46322
     Telephone: (219) 922-0800
     Facsimile: (219) 922-1261
     Email: sar4198@aol.com

                     About Cali Nails 02, Inc.

Cali Nails 02, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ind. Case No. 25-20001) on January 2,
2025, with up to $50,000 in assets and up to $1 million in
liabilities.

Judge James R. Ahler presides over the case.

Sheila A. Ramacci, Esq., represents the Debtor as legal counsel.


CAPO 35191: Seeks Chapter 11 Bankruptcy in California
-----------------------------------------------------
On April 4, 2025, Capo 35191 LLC 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
to $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About Capo 35191 LLC

Capo 35191 LLC is a real estate debtor that holds a single asset,
as defined by 11 U.S.C. Section 101(51B). Its main property is
located at 35191 Camino Capistrano, Capistrano Beach, CA 92624.

Capo 35191 LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-12796) on April 4,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Deborah J. Saltzman handles the case.

The Debtor is represented by Krystina T. Tran, Esq. at LAW OFFICES
OF KRYSTINA T TRAN.


CITIUS PHARMACEUTICALS: Amends License Deal with Eisai for Payments
-------------------------------------------------------------------
Citius Pharmaceuticals, Inc. recently filed a Form 8-K with the
Securities and Exchange Commission, revealing that on March 28,
2025, Citius Oncology, Inc., in which it owns approximately 92% of
the outstanding common stock, and Eisai Co., Ltd. entered into a
letter agreement that amends the existing License Agreement to
establish a revised payment schedule to Eisai.  Citius Oncology has
agreed to make an initial payment of $2,535,317.77 to Eisai on or
before July 15, 2025, followed by monthly payments of $2,350,000
for the next four months, and a final payment of $2,197,892.07 on
or before Dec. 15, 2025, in each case with interest on each
obligation from its original due date through the date of actual
payment under the letter agreement at the rate of 2% per annum.
The parties also released each other from any claims, losses,
damages, costs, or expenses related to Citius Oncology's failure to
make the milestone payment or cover other costs under the License
Agreement, except for claims arising from a breach of the letter
agreement.  All other terms of the License Agreement remain in full
force and effect.

In September 2021, Citius Pharma entered into an asset purchase
agreement with Dr. Reddy's Laboratories SA to acquire its exclusive
license of E7777 (denileukin diftitox).  Dr. Reddy's had previously
obtained exclusive rights to license E7777 in select markets from
Eisai Co., Ltd.  Through this transaction, Citius Pharmaceuticals
became a party to the Amended and Restated License, Development,
and Commercialization Agreement for E7777, which had been amended
on Aug. 9, 2018, and Aug. 31, 2021.  Citius Pharma has obtained the
trade name LYMPHIR for the product, E7777.  Upon Citius becoming a
stand-alone public company in August 2024, Citius Oncology assumed
Citius Pharma's rights and obligations under the License
Agreement.

Pursuant to the terms of the License Agreement, upon the approval
of LYMPHIR by the U.S. Food and Drug Administration ("FDA") in
August 2024, Citius Oncology became obligated to pay Eisai a
milestone payment of $5,900,000.  In the course of developing
LYMPHIR, Citius Oncology incurred an aggregate of $8,233,209.77 for
various development and inventory costs that it owes to Eisai.  All
of these costs were reported in Citius Oncology's financial
statements for the periods in which they were incurred, with the
great majority of them, other than the milestone payment incurred
in August 2024, being incurred prior to the quarter ended Dec. 31,
2024.  The $5,900,00 milestone payment obligation was reported in
Citius Oncology's financial statements for the period in which FDA
approval of LYMPHIR was obtained, which was in August 2024.  An
aggregate $6,048,052.67 of inventory costs have been incurred, all
of which were included as an accrued obligation on Citius
Oncology's financial statements for the period ended Dec. 31, 2024.
Accounts receivable development costs of $185,317.70 were included
on Citius Oncology's financial statements for the period ended Dec.
31, 2024.  The remaining $1,999,839.40 of expense will be included
in Citius Oncology's financial statements for the period ended
March 31, 2025.

                        About Citius Pharmaceuticals

Headquartered in Cranford, N.J., Citius Pharmaceuticals, Inc., is a
biopharmaceutical company dedicated to the development and
commercialization of first-in-class critical care products.  The
Company's goal generally is to achieve leading market positions by
providing therapeutic products that address unmet medical needs yet
have a lower development risk than usually is associated with new
chemical entities.  New formulations of previously approved drugs
with substantial existing safety and efficacy data are a core
focus.  The Company seeks to reduce development and clinical risks
associated with drug development, yet still focus on innovative
applications.

Boston, Massachusetts-based Wolf & Company, P.C., the Company's
auditor since 2014, issued a "going concern" qualification in its
report dated Dec. 27, 2024, citing that the Company has suffered
recurring losses and has a working capital deficit as of Sept. 30,
2024.  These conditions raise substantial doubt about the Company's
ability to continue as a going concern.

The Company incurred net losses of $39,425,839 and $32,542,912 for
the years ended Sept. 30, 2024 and 2023, respectively.  At Sept.
30, 2024, Citius Pharma had an accumulated deficit of $201,370,218.
Citius Pharma's net cash used in operations during the years ended
Sept. 30, 2024 and 2023 was $28,201,375 and $29,060,212,
respectively.


COMPACT BRICK: Amends Plan to Include PNC Bank Secured Claims Pay
-----------------------------------------------------------------
Compact Brick Pavers, Inc., submitted a Second Plan of
Reorganization dated March 11, 2025.

The Plan under Chapter 11 of the Bankruptcy Code proposes to pay
creditors of the Debtor from the Debtor=s current and future
earnings.

This Plan provides for one class of priority claims; seven classes
of secured claims; one class of general unsecured claims; and one
class of equity security holders.

Unsecured creditors holding allowed claims will receive a
distribution of approximately seventy-eight percent of their
allowed claims, if all general unsecured claims are allowed. This
Plan also provides for the payment of administrative and priority
claims under the terms to the extent permitted by the Code or by
agreement between the Debtor and the claimant.

Class 7 consists of General Unsecured Claims. Claimants in this
class will be paid their allowed claims over twenty quarters
without interest, with payments commencing on the start of the
calendar quarter immediately following the Effective Date of the
Plan and continuing quarterly thereafter. In the event that this
quarter starts less than thirty days after the entry of the
Confirmation Order, payment shall not commence until the following
quarter.

The quarterly payments shall be as follows:

     Quarters 1-4: $3,750
     Quarters 5-8: $13,750
     Quarters 9-12: $25,000
     Quarters 13-16: $35,000
     Quarters 17-20: $41,250

Promissory notes will be issued to each creditor in this class with
allowed claims to evidence payments, which promissory notes shall
be enforceable in any court of competent jurisdiction. The amount
of the distribution will be considered final and binding thirty
days after the filing of the Certificate of Substantial
Consummation by the Debtor.

Class 9 consists of the Secured claim of PNC Bank, N.A. PNC Bank,
N.A. filed a claim [Claim No.: 18] in the amount of $55,819.67
secured by a 2022 Bobcat T64 Compact Track Loader (S/N: B4SD14357).
The Debtor will continue making payments in accordance with the
underlying loan documents. Claimant will retain its lien to the
same extent, validity, and priority as existed pre-petition. All
pre and post petition arrears, presently estimated at $1,466.27
will be paid in full within thirty days from the Effective Date of
the Plan.

Class 10 consists of the Secured claim of PNC Bank, N.A. PNC Bank,
N.A. filed a claim [Claim No.: 19] in the amount of $66,826.78
secured by a 2023 Bobcat T64 Compact Track Loader (S/N: B4SD19598).
The Debtor will continue making payments in accordance with the
underlying loan documents. Claimant will retain its lien to the
same extent, validity, and priority as existed pre-petition. All
pre and post petition arrears, presently estimated at $1,489.34
will be paid in full within thirty days from the Effective Date of
the Plan.

Wagner Santos, Wagner Santos, Jr., and Taylor Santos will continue
to manage the Debtor post-confirmation. The Plan will be funded by
the continued operations of the Debtor.

A full-text copy of the Second Amended Plan dated March 11, 2025 is
available at https://urlcurt.com/u?l=5ozkcT from PacerMonitor.com
at no charge.

Attorney for the Debtor:

      Buddy D. Ford, Esq.
      Jonathan A. Semach, Esq.
      Heather M. Reel, Esq.
      Buddy D. Ford, P.A.
      9301 West Hillsborough Avenue
      Tampa, FL 33615-3008
      Tel: (813) 877-4669
      Fax: (813) 877-5543
      Email: Buddy@tampaesq.com
      Email: Jonathan@tampaesq.com
      Email: Heather@tampaesq.com

                   About Compact Brick Pavers

Compact Brick Pavers Inc. is a family owned and operated company
offering commercial and residential construction services.  Its
services include pool remodeling, flooring, brick paver
installation, countertop installation & fabrication, exterior &
interior painting, commercial renovations, cabinetry and house
cleaning/construction cleaning.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-04042) on July 17,
2024, with $147,469 in assets and $2,571,452 in liabilities. Taylor
Santos, secretary, signed the petition.

Judge Catherine Peek McEwen presides over the case.

Buddy D. Ford, Esq., at BUDDY D. FORD, P.A., is the Debtor's legal
counsel.


CPIF LA ARTS: Case Summary & Three Unsecured Creditors
------------------------------------------------------
Debtor: CPIF LA Arts District LLC
        1910 Fairview Ave. East, Ste 200
        Seattle, WA 98102

Business Description: The Debtor is the 100% owner of a mixed-use
                      project located at 1129 and 1101 East 5th
                      Street, 445-457 South Colyton Street, and
                      450-456 South Seaton Street, Los Angeles, CA
                      90013.  The property, valued at $22.6
                      million, spans approximately 45,722 sq. ft.
                      and is improved with a 91,200 sq. ft. mixed
                      -use building.  It includes nine retail
                      units on the ground floor and 13
                      apartments/lofts on the second floor.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       Central District of California

Case No.: 25-12827

Judge: Hon. Sheri Bluebond

Debtor's Counsel: David B. Golubchik, Esq.
                  LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
                  2818 La Cienega Ave.
                  Los Angeles, CA 90034
                  Tel: (310) 229-1234

Total Assets: $22,702,276

Total Liabilities: $9,706,901

As the authorized representative, Kevin Quinn signed the petition.

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

https://www.pacermonitor.com/view/IZDOJ7A/CPIF_LA_Arts_District_LLC_a_Washington__cacbke-25-12827__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Three Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount

1. Apocalypse Security Inc.           Security            $12,180
3462 E. 14th Street
Los Angeles, CA 90023

2. TVM Development                 Building Vendor           $400
278 Calle Orovista
Camarillo, CA 93012

3. LA DWP                             Utilities                $0
P.O. Box 30808
Los Angeles, CA 90030


CREDITO REAL SAB: Court Grants Chapter 15 Recognition
-----------------------------------------------------
Judge Thomas M. Horan of the United States Bankruptcy Court for the
District of Delaware entered an order recognizing Credito Real,
S.A.B. de C.V., SOFOM, E.N.R.'s Chapter 15 Mexican bankruptcy case
as a foreign main proceeding and giving full force and effect to
its Concurso Plan.

In its June 27, 2024 decision in Harrington v. Purdue Pharma, L.P.,
the Supreme Court held that a chapter 11 plan of reorganization
cannot provide for a nonconsensual third-party release of claims
against a non-debtor. Following that
decision, the international insolvency community has debated
whether, under chapter 15, a bankruptcy court nonetheless may enter
an order enforcing a foreign plan containing such releases. That is
the question presented here. At the recognition hearing held in
this chapter 15 case on March 11, 2025, in an oral bench ruling,
this Court held that such an order is permissible after Purdue and
granted enforcement of a Mexican plan containing such releases.

In this case, Robert Wagstaff, the foreign representative of
Credito Real, petitioned for entry of an order recognizing the
Chapter 15 Debtor's Mexican bankruptcy case as a foreign main
proceeding. That request was unopposed.

The Foreign Representative also asked this Court to render
assistance to the Mexican court by recognizing and enforcing the
plan that the Mexican court approved. The parties refer to that
plan as the Concurso Plan and the order approving it as the
Concurso Order.

The Concurso Plan is consistent with the terms of a restructuring
support agreement and provides for the repayment of creditors who
are located in the United States. It establishes the creation of a
special purpose vehicle through a Mexican trust, to which almost
all of the Chapter 15 Debtor's remaining assets will be
transferred. Upon the monetization, sale, or assignment of such
assets, the corresponding proceeds will be distributed according to
the priority scheme set forth in the Mexican Bankruptcy
Law, pari passu and pro rata among unsecured creditors. Upon the
distribution, the unsecured claims will be cancelled or
extinguished in accordance with the Concurso Plan.

Clause 16 of the Concurso Plan contains exculpatory provisions that
shield certain parties who played roles in the negotiation and
implementation of the Chapter 15 Debtor's restructuring process,
including the Ad Hoc Group, the Mexican Liquidator, the Chapter 15
Debtor's former directors and officers, the Indenture Trustee, and
certain related parties. These parties are exculpated for any
actions or inactions taken during the restructuring process prior
to the creditors' formal acceptance of the plan, subject to the
Concurso Plan's carveouts and exceptions.

As written, the Release is customary in Mexican settlement
agreements and is permitted under Mexican Bankruptcy Law. Under the
Concurso Order, the Mexican Court determined that the Concurso Plan
and the Release are consistent with Mexican Bankruptcy Law and not
in violation of the public or individual interest of any specific
creditor. The Concurso Order has not been subject to a stay in
Mexico, so it remains in effect and is enforceable under Mexican
law.

The United States International Development Finance Corporation
opposed this relief. In the DFC Objection, it argued that the
Concurso Plan cannot be recognized in its current form because the
Release is not authorized under Bankruptcy Code sections 1507 and
1521. It contends that Bankruptcy Code section 1521(a) does not
include third-party releases as relief available to a foreign
debtor. Specifically, the DFC argues that the term any appropriate
relief used in that section refers to relief available under the
Bankruptcy Code. The DFC contends that non-consensual third-party
releases are not available. Relatedly, it contends that Bankruptcy
Code section 1507, which provides that a U.S. court may grant
additional assistance to a foreign representative, also does not
provide for such relief.

The Court overruled that objection and entered its Order Granting
(I) Recognition of Foreign Main Proceeding, (II) Full Force and
Effect to Concurso Plan and Certain Related Relief.

Judge Horan holds, "Accordingly, chapter 15 authorizes this Court
to enforce nonconsensual third-party releases ordered by foreign
courts. The plain language of Bankruptcy Code sections 1521(a) and
1507 give this Court a broad grant of discretion to aid foreign
courts in accordance with principles of comity. Nothing in the
plain language of these statutes or the legislative history or
canons of construction indicates that
Congress intended to diverge from this policy of comity to prohibit
enforcing releases entered by foreign courts. The Mexican Prepack
Proceeding was fair, and the Concurso Plan and the Concurso Order
are not manifestly contrary to U.S. public policy. Therefore, this
Court enforces the Concurso Plan and the Concurso Order in their
entirety."

A copy of the Court's decision dated April 1, 2025, is available at
https://urlcurt.com/u?l=bFn5K7 from PacerMonitor.com.

                   About Credito Real SAB

Credito Real SAB de CV SOFOM ENR is a Mexico-based company that
provides consumer financing.  Credito is Mexico's biggest payroll
lender and second largest non-bank lender after Real Unifin.

Credito Real provides loans, either by providing direct financing
to consumers or by establishing financing programs with consumer
financing dealers that sell to Credito Real the collection rights
from consumer financing products. It also provides financing
directly to individuals that are employed by corporations with
payroll deduction agreements with consumer financing dealers
authorized by Credito Real. Credito Real operates through a number
of subsidiaries, including AFS Acceptance LLC.

Three alleged creditors signed a petition to send Credito Real to
Chapter 11 bankruptcy on June 22, 2022 (Bankr. S.D.N.Y. Case No.
22-10842). Institutional Multiple Investment Fund LLC, of Boston,
Massachusetts; Banco Monex, S.A., of Mexico, and Solitaire Fund, of
Liechtenstein, who claim to own an aggregate $8 million of
unsecured bond debt, signed the involuntary Chapter 11 petition.
David H. Botter, Esq., at Akin Gump Strauss Hauer & Feld LLP is
advising the three bondholders.

Despite efforts by bondholders to force the company to pursue a
Chapter 11 restructuring in the U.S., the Debtor opted to pursue
proceedings in Mexico instead. On June 28, 2022, Angel Francisco
Romanos Berrondo, one of the Debtor's shareholders and the former
CEO of Credito Real, filed a petition, in his capacity as a
shareholder, with the Mexican Court seeking to commence the Mexican
Liquidation Proceeding.

On June 30, 2022, the Mexican Court entered an order commencing the
dissolution and liquidation proceedings for the Company and
appointing Mr. Fernando Alonso-de-Florida Rivero as the Mexican
Liquidator.

The liquidator for Credito Real filed a Chapter 15 bankruptcy
petition (Bankr. D. Del. Case No. 22-10630) on July 14, 2022, to
seek U.S. recognition of the Mexican proceedings. The petition was
signed by Robert Wagstaff, the foreign representative of the
liquidator.  Richards, Layton & Finger, P.A., led by John
HenryKnight, is counsel in the U.S. case.





CRESTWOOD HOSPITALITY: Gets Cash Collateral Extension Until June 30
-------------------------------------------------------------------
Crestwood Hospitality, LLC received another extension from the U.S.
Bankruptcy Court for the District of Arizona to use its lender's
cash collateral.

The order authorized the company to use the cash collateral of
First-Citizens Bank & Trust Company (as successor by merger to CIT
Bank, N.A.) until June 30 to pay its operating expenses.

First-Citizens holds liens and security interests in the company's
real property in Tucson, Ariz., and other assets including cash,
revenues and proceeds, which constitute its cash collateral. As of
the petition date, the lender is owed $6,248,371.66.

As protection for the use of its cash collateral, First-Citizens
was granted replacement liens on the company's post-petition
assets. In addition, the lender will receive a monthly payment of
$35,754.17.

The company's authority to use cash collateral terminates on June
30 unless extended or upon occurrence of certain events including
the appointment of a Chapter 11 trustee or examiner; the filing of
a motion granting another party a lien on the collateral; and the
cessation of the company's business operations.

                   About Crestwood Hospitality LLC

Crestwood Hospitality, LLC operates the Holiday Inn Express &
Suites Tucson Mall, an "all suite" hotel built in 2004 pursuant to
a license agreement with Holiday Hospitality Franchising, LLC.

Crestwood filed Chapter 11 petition (Bankr. D. Ariz. Case No.
21-03091) on April 23, 2021, listing between $1 million and $10
million in assets and between $10 million and $50 million in
liabilities. Sukhbinder Khangura, vice president and member of
Crestwood, signed the petition.

Judge Brenda Moody Whinery oversees the case.

Sacks Tierney P.A. represents the Debtor as legal counsel.


DEL MONTE INVEST: Case Summary & Three Unsecured Creditors
----------------------------------------------------------
Debtor: Del Monte Invest, LLC
        1299 Del Monte Ave.
        Monterey CA 93940

Business Description: Del Monte Invest owns a commercial property
                      located at 1299 Del Monte Ave., Monterey, CA
                      93940, valued at $1.55 million based on
                      comparable sales.

Chapter 11 Petition Date: April 8, 2025

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 25-50499

Debtor's Counsel: Rhonda Walker, Esq.
                  RHONDA K. WALKER ATTORNEY AT LAW
                  440 E. Huntington Dr. Ste. 300
                  Arcadia CA 91006
                  Tel: 626-577-7322
                  Fax: 626-628-3210
                  Email: rwalker_law@yahoo.com

Total Assets: $1,614,260

Total Liabilities: $1,020,839

The petition was signed by Anthony Quinn Virgil as sole/managing
member.

A copy of the Debtor's list of three unsecured creditors is
available for free on PacerMonitor at:

https://www.pacermonitor.com/view/WENY2UQ/Del_Monte_Invest_LLC__canbke-25-50499__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/RZXJIKA/Del_Monte_Invest_LLC__canbke-25-50499__0001.0.pdf?mcid=tGE4TAMA


DP AUTO SALES: Eric Terry Named Successor Subchapter V Trustee
--------------------------------------------------------------
The U.S. Trustee for Region 7 appointed Eric Terry as successor
Subchapter V trustee for DP Auto Sales, Ltd.

Mr. Terry will charge $450 per hour for his services as Subchapter
V trustee and $50 per hour for his support staff working under his
direct supervision. The Subchapter V trustee will seek
reimbursement for work-related expenses incurred.

Mr. Terry declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Eric Terry
     3511 Broadway
     San Antonio, TX 78209
     Phone: (210)468-8274
     Email: eric@ericterrylaw.com

                        About DP Auto Sales

DP Auto Sales, Ltd, doing business as Byrider, is an automobile
dealer in San Antonio, Texas.  

DP Auto Sales filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. W.D. Texas Case No. 24-51135) on June
20, 2024, listing as much as $1 million to $10 million in both
assets and liabilities. Jody Anderson, president, signed the
petition.

Judge Craig A. Gargotta oversees the case.

The Smeberg Law Firm serves as the Debtor's bankruptcy counsel.


DRAKSIN PROPERTIES: Francis Brennan Named Subchapter V Trustee
--------------------------------------------------------------
The U.S. Trustee for Region 2 appointed Francis Brennan, Esq., at
Whiteman Osterman & Hanna, LLP as Subchapter V trustee for Draksin
Properties, Inc.

Mr. Brennan will be paid an hourly fee of $480 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Mr. Brennan declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Francis Brennan, Esq.
     Whiteman Osterman & Hanna LLP
     80 State Street, 11th Floor
     Albany, NY 12207
     Phone: (518) 487-7600
     Email: fbrennan@woh.com

                   About Draksin Properties Inc.

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 presides over the case.

Peter A. Orville, Esq., at Orville & McDonald Law, P.C. serves as
the Debtor's bankruptcy counsel.


ELNUNU MEDICAL: Court Directs U.S. Trustee to Appoint PCO
---------------------------------------------------------
Judge Elizabeth Stong of the U.S. Bankruptcy Court for the Eastern
District of New York directed the U.S. Trustee for Region 2 to
appoint a patient care ombudsman for Elnunu Medical P.C.

The bankruptcy judge finds that the provisions of Section 333(a)(1)
of the Bankruptcy Code for appointment of a patient care ombudsman
apply to Elnunu Medical P.C. after having filed its bankruptcy
petition, indicating that it operates a health care business.

A patient care ombudsman refers to an individual appointed in
healthcare bankruptcies to ensure the safety of patients. He
monitors the quality of patient care and represents the interest of
patients of the healthcare debtor.

                       About Elnunu Medical

Elnunu Medical P.C. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-40732) on February 14,
2025, listing between $100,001 and $500,000 in both assets and
liabilities.

Judge Elizabeth S. Stong presides over the case.

Btzalel Hirschhorn, Esq., at Shiryak, Bowman, Anderson, Gill &
Kadochnikov, LLP represents the Debtor as legal counsel.


EOS ENERGY: Awaits Final Judgment in Houck Class Suit
-----------------------------------------------------
Eos Energy Enterprises Inc. disclosed in its Form 10-K Report for
the annual period ending December 31, 2024 filed with the
Securities and Exchange Commission on March 4, 2025, that the
Company is awaiting entry of final judgment in the Houck class suit
filed at the United States District Court for the District of New
Jersey.

On August 1, 2023, a class action lawsuit (the "Houck Complaint")
was filed in the United States District Court of New Jersey by
plaintiff William Houck against the Company and three individual
officers: the Company’s Chief Executive Officer, its former Chief
Financial Officer, and its current Chief Financial Officer (with
the Company, the "Houck Defendants").

The Houck Complaint alleges that the Houck Defendants violated
federal securities laws by making knowingly false or misleading
statements about the Company's contractual relationship with a
customer and about the size of the Company's order backlog and
commercial pipeline.

On November 8, 2024, the District Court granted the renewed motion
to dismiss filed by the Houck Defendants.

On January 23, 2025, the Company filed a Notice and Request for
Entry of Final Judgment with the District Court.

The Company is awaiting the District Court's entry of Final
Judgment.

Eos Energy Enterprises, Inc. designs, develops, manufactures, and
markets zinc-based energy storage solutions for utility-scale,
microgrid, and commercial & industrial applications.[BN]



EZ ROLL CASTERS: Gets OK to Use SBA's Cash Collateral
-----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Arkansas
issued an order granting E-Z Roll Casters, Inc. interim approval to
use the cash collateral of the U.S. Small Business Administration.

The court approval came after SBA consented to the use of its cash
collateral. The agency previously moved the court to block E-Z Roll
Casters from using the collateral.

SBA is a creditor with security interest in E-Z Roll Casters'
assets including inventory, equipment, accounts and accounts
receivable.

As protection, SBA will be granted a validly perfected priority
lien on certain post-petition assets of the company, subject to
superior liens on the assets held by other creditors; and a
superiority claim in case of any diminution in the value of its
collateral.

In addition, SBA will receive a monthly payment of $2,575 as
further protection.

The order remains in effect for 60 days or until a final ruling by
the bankruptcy court.

                       About E-Z Roll Casters Inc.

E-Z Roll Casters Inc. is a manufacturer of rigid and swivel
casters. The Company's distribution center is centrally located in
Conway, Arkansas. The Company offers wheels, casters, hand trucks,
pallet jacks, platform carts and other specialty items.

E-Z Roll Casters Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Ark. Case No. 24-13217) on October 2,
2024. In the petition filed by Martin Stewart Aist, as owner, the
Debtor reports estimated assets between $500,000 and $1 million and
estimated liabilities between $1 million and $10 million.

The Honorable Bankruptcy Judge Bianca M. Rucker handles the case.

The Debtor is represented by Joel G. Hargis, Esq., at Caddell
Reynolds Law Firm.

The U.S. Small Business Administration, as creditor, is represented
by:

     Lindsey Mitcham Lorence, Esq.
     Assistant United States Attorney
     P.O. Box 1229
     Little Rock, Arkansas 72203
     Tel: (501) 340-2600
     Email: lindsey.lorence@usdoj.gov


FCA CONSTRUCTION: Updates Unsecured Claims Pay; Files Amended Plan
------------------------------------------------------------------
FCA Construction LLC submitted a Further Immaterially Modified
Second Amended Subchapter V Plan of Reorganization dated March 11,
2025.

The Debtor has determined that the highest and best return to
creditors will be through continuing operations and making
Distributions to creditors over the course of three-year plan
(equal to 36 months).

In particular, the Debtor believes it has the potential for a
bright future, particularly in light of its reputation in the
industry and inventory of contracts and projects. The Debtor's
bankruptcy and Plan will enable the Debtor to shed its economic
burdens so that it can pay creditors through the Plan and grow.

The Plan is to be funded through several sources, including: (i)
cash on hand; (ii) operating revenues; and (iii) Net Litigation
Recoveries.

All Allowed General Unsecured Claims will be eligible for a pro
rata Distribution over three years from Projected Disposable Income
of the Debtor after payment of Administrative Expenses, Allowed
Priority Tax Claims, and Allowed Priority Unsecured Claims, as well
as after payments payment of expenditures necessary for
continuation, preservation, or operation of the business of the
Debtor.

Based on the Projected Disposable Income set forth in the Cash Flow
Projections and the size of the General Unsecured Claims pool
(i.e., all General Unsecured Claims to include the Newtek
Deficiency Claim), the Debtor proposes that Distributions will be
in the range of 3.54% to 4.61% of the amount Allowed General
Unsecured Claims, depending on whether contemplated objections to
certain Claims will be sustained.

In addition, Class 6 (the General Unsecured Claims Class) will
receive, pro rata based on the amount of the Claim within the
Class, 25% of the Net Litigation Recoveries and 100% of Net
Avoidance Action Recoveries.

Class 6 consists of all General Unsecured Claims. Allowed Claims in
the General Unsecured Claims Class will receive a pro rata portion
of the annual Debtor's Projected Disposable Income over a period of
12 quarters. These payments will be made directly by the Debtor as
the disbursement agent (as opposed to the Subchapter V Trustee).

These payments will be made on a quarterly basis, beginning on the
last day of the first full quarter following the Effective Date,
and in an amount pursuant to the Cash Flow Projections. The
estimated quarterly payments are as follows (presuming no Disputed
Claims are disallowed):

In Year 1 of the Plan: $22,514.46 per quarter
In Year 2 of the Plan: $7.243.62 per quarter
In Year 3 of the Plan: $21,840.65 per quarter

In addition to distributions from Projected Disposable Income,
holders of Class 6 Allowed Claims will be entitled to additional
Distributions equal to 25% of Net Litigation Recoveries and 100% of
Net Avoidance Action Recoveries realized by the Debtor or
Reorganized Debtor pro rata up to the amount of their Allowed
Claims.

If Allowed Claims are entitled to Distributions in respect of Net
Litigation Recoveries and/or Net Avoidance Action Recoveries, such
Distributions will be made on the first day of the first full
quarter following the fixing and liquidating of the amount of the
Net Litigation Recoveries or Net Avoidance Action Recoveries.

The Debtor will fund its plan payments from its disposable income
earned from the Debtor's operations. To date, the Debtor has filed
monthly operating reports for April and May of 2024. The Debtor
bases its projected disposable income on historical data, current
performance, expected contract awards in the fourth quarter of
2024, and the management's experience.

Through the Debtor's already secured projects and its anticipated
projects, the Debtor's total anticipated gross revenue from
February 2025 through February 2028 is $15,900,000. After costs and
expenses of $14,970,544.14, Administrative Expense and Priority Tax
Claim payments, and payments in respect of Allowed Secured Claims,
the projected disposable income over three years is anticipated to
be $206,394.93.

A full-text copy of the Further Immaterially Modified Second
Amended Subchapter V Plan of Reorganization dated March 11, 2025 is
available at https://urlcurt.com/u?l=Zvqu2J from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     Tristan Manthey, Esq.
     Fishman Haygood, LLP
     201 St. Charles Avenue, Suite 4600
     New Orleans, LA 70170-4600
     Telephone: (504) 556-5525
     Facsimile: (504) 586-5250
     Email: tmanthey@fishmanhaygood.com

                    About FCA Construction LLC

FCA Construction LLC is a general contractor specializing in
residential construction and roofing, commercial construction and
roofing, disaster recovery, disaster roof replacement, and
electrical and mechanical services.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. La. Case No. 24-10702) on April 11, 2024. In the
petition signed by Albert Courcelle, III, member, the Debtor
disclosed $3,417,686 in assets and $7,768,774 in liabilities.

Judge Meredith S. Grabill oversees the case.

Tristan Manthey, Esq., at FISHMAN HAYGOOD, L.L.P., is the Debtor's
legal counsel.


FIGUEROA TELEPHONE: Seeks Chapter 11 Bankruptcy in Puerto Rico
--------------------------------------------------------------
On April 2, 2025, Figueroa Telephone Construction Inc. filed
Chapter 11 protection in the U.S. Bankruptcy Court for
the District of Puerto Rico. According to court filing, the
Debtor reports $1,131,802 in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

           About Figueroa Telephone Construction Inc.

Figueroa Telephone Construction Inc. 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.

Figueroa Telephone Construction Inc. sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-01506)
on April 2, 2025. In its petition, the Debtor reports total assets
of $499,203 and total liabilities of $1,131,80.

The Debtor is represented by Jaime Rodriguez Perez, Esq. at HATILLO
LAW OFFICE, PSC


FLECK REAL ESTATE: Unsecureds to Get 100 Cents on Dollar in Plan
----------------------------------------------------------------
Fleck Real Estate Holding Group, LLC, filed with the U.S.
Bankruptcy Court for the Northern District of Georgia a Disclosure
Statement describing Chapter 11 Plan dated March 12, 2025.

The Debtor is a small business, and has been the
Debtor-in-Possession ("DIP") in this case since the case was filed
on August 2, 2024.

The Debtor invested in real estate with a partner expecting to
receive a substantial profit; however, the anticipated proceeds
were not realized. Ultimately, Debtor bought out Debtor's
investment partner thereby causing Debtor's financial hardship.

The primary funding source for the proposed plan shall be rental
income from the lease of real property owned by Debtor located at
3471 River Mill Lane, Ellenwood, Georgia 30294, in the amount of
$2,400.00 per month and from Ward Services for contracted services
in the amount of $4,175.00 per month.

There is one secured creditor to be paid in accordance with the
Plan, Longhorn III Investments as successors in interest to SkyBeam
Capital REIT LLC, (hereinafter "Longhorn III"), the holder of a
Promissory Note secured by Debtor's real property. There is an
unsecured priority creditor to be paid in accordance with the Plan,
Dekalb County Tax Commissioner filed a Proof of Claim after the
previous Disclosure Statement was filed which will be paid in full,
and two nonpriority unsecured creditors, Chase Bank, and Dekalb
County Water.

Class 4 consists of Allowed Unsecured Non-Priority Claims. Claims
in this class shall be paid at the rate of one hundred cents on the
dollar which is the rate at which said claims would be paid in a
Chapter 7 liquidation. Any Class 4 Claim (or as otherwise allowed
by the Court) shall be paid in full upon refinancing of the Real
Property within nine months of entry of a confirmation order, or
upon selling of the Real Property, whichever shall first occur.

To the best of Debtor's knowledge and belief, there are no other
unsecured, non-priority creditors. However, if any additional
unsecured, non-priority creditors exist who file a proof of claim
by the Bar Date or whose untimely filed proof of claim is approved
by the Court, said creditors in Class 4 shall be paid from the
remaining profits realized in the sale or refinancing of the Real
Property on a pro rata basis; if there are no remaining profits
from liquidated real properties, then no payout shall be made for
such claims.

The funds necessary for the satisfaction of all claims shall come
from rental income from the lease of real property owned by Debtor
located at 3471 River Mill Lane; contracted services from Ward
Services, Winston Benefits, Inc., Gallagher Solutions, Advocate
Advisors, and Bellew Consulting; and proceeds from the sale of or
refinancing of Debtor's real property.

A full-text copy of the Disclosure Statement dated March 12, 2025
is available at https://urlcurt.com/u?l=8lStnM from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Sims W. Gordon, Jr., Esq.
     The Gordon Law Firm, PC
     400 Galleria Parkway, SE Suite 1500
     Atlanta, GA 30339
     Tel: (770) 955-5000
     Fax: (770) 955-5010
     Email: law@gordonlawpc.com

                About Fleck Real Estate Holding Group

Fleck Real Estate Holding Group, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 24-57999) on Aug. 2, 2024.  The
Debtor tapped Gordon Law Firm, PC, as counsel.


FOOTBALL NATION: Court OKs Bidding Rules for Acquired Asset Sale
----------------------------------------------------------------
Football Nation Holdings, LLC received the green light from the
U.S. Bankruptcy Court for the District of Massachusetts, to sell
substantially all of its assets, free and clear of liens,
interests, and encumbrances.

The Court has authorized the Debtor to sell its Acquired Assets or
its interest in CHFF Stats LLC to TechCraft LLC with the purchase
price of $102,500.

The Court determined that the Debtor has reached a resolution of
the objection to the bid procedures filed by objecting creditors,
Gregg Flower, Huntington Village Investors, LLC, and RyKell, LLC.

The Court granted the Bid Procedures of the Debtor in connection
with the sale of the Acquired Assets in which the competing bid
shall contains an initial cash payment of at least  $110,000. The
bidding deadline will be on June 3, 2025, at 5:00 p.m.

The Court held that if there is a qualified Competing Bid filed,
the Court will allow further bidding
at the time of the hearing on the Sale Motion.

If there is no Competing Bid, no Auction will be held, and the
Buyer and the Debtor may proceed to seek approval of the Sale
Motion.

In the event the party who submits the highest and best bid for the
Acquired Assets fails to close on the sale through no fault of the
Debtor, such party's deposit shall be forfeited to the Debtor. At
the hearing, the Debtor may request, and the Court may approve, the
designation of the second highest bidder as the backup bidder.


Any objections to the Sale Motion must be filed by June 3, 2025, at
5:00 p.m.

A hearing on the Sale Motion shall be held on June 10, 2025, at
11:00 a.m., at the United States Bankruptcy Court for the District
of Massachusetts, Courtroom 3, John W. McCormack Post Office and
Court House, 5 Post Office Square, Boston, MA 02109.

                 About Football Nation Holdings, LLC

Football Nation Holdings LLC, doing business as Command Media LLC,
provides cutting-edge app and web development specializing in the
application of advanced AI, enhanced live streaming, and real-time
gamification.

Football Nation Holdings LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 24-12453) on
December 5, 2024. In the petition filed by Laura Peck, as chief
operating officer, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.

Honorable Bankruptcy Judge Janet E. Bostwick handles the case.


FRANCHISE GROUP: Judge Considers Postponing Chapter 11 Plan Hearing
-------------------------------------------------------------------
Rick Archer of Law360 Bankruptcy Authority reports that on Monday,
April 7, 2025, a Delaware bankruptcy judge said retail chain owner
Franchise Group could maintain exclusive control over its
restructuring efforts but indicated she may delay the hearing on
the proposed plan to allow opponents additional time to gather
information.

                  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.


FTAI INFRASTRUCTURE: S&P Alters Outlook to Stable, Affirms 'B-' ICR
-------------------------------------------------------------------
S&P Global Ratings revised the outlook to stable from negative and
affirmed its 'B-' issuer credit and issue-level ratings on FTAI
Infrastructure Inc. (FIP); the '3' recovery rating is unchanged.

The stable outlook reflects S&P's expectation that FIP will
deleverage over the next few years with EBITDA growth driven by
contracted cash flow at various operating entities.

S&P said, "We believe the Long Ridge acquisition will contribute to
significant EBITDA growth for FIP; however, the transaction also
means a material debt increase. FIP purchased the remaining 49.9%
equity interest in Long Ridge from GCM Grosvenor Inc., the other
joint venture investor. We will consolidate 100% of Long Ridge's
EBITDA to FIP in our credit metrics given the 100% ownership.
Concurrent with the acquisition, Long Ridge issued a $600 million
senior secured note and $400 million term loan to refinance
existing debt of about $600 million and to pay the mark-to-market
(MTM) settlement of its existing swap agreement to reprice its
power sales contract. The new power contract is at a significantly
higher price of $41 per megawatt hour (/MWh), up from $28/MWh,
which will account for about 67% of capacity. We expect Long Ridge
will contribute S&P Global Ratings-adjusted EBITDA of about $130
million-$140 million to FIP in 2025, an increase of about $100
million-$110 million from 2024. That said, the Long Ridge
acquisition added incremental debt to FIP's capital structure. The
acquisition was partially funded by $160 million series B preferred
equity issued by FIP, which we treat as debt and include in our
adjusted credit metrics. The treatment is the same as our
assessment of FIP's series A preferred equity, which is consistent
with our criteria for hybrid instruments. In addition, a net
increase of $400 million debt was used to settle the MTM swap
agreement and to pay transaction-related fees." Overall, the Long
Ridge transaction added S&P Global Ratings-adjusted debt of about
$900 million, including the effect of the additional 49.9%
consolidation, the debt issuance to settle the swaps, and the
preferred equity issuance.

Contract executions at Jefferson and Repauno will increase FIP's
EBITDA over the next few years. Jefferson has executed three new
contracts with its counterparties that will start during 2025. At
the same time, the company is negotiating with other counterparties
to increase utilization of Jefferson's capacity. S&P said, "We
expect Jefferson will contribute additional EBITDA of about $25
million and $40 million in 2025 and 2026, respectively. We
proportionally consolidate Jefferson's financial metrics to FIP to
reflect FIP's 80% ownership. At the same time, Repauno is
undergoing the phase 2 construction project. The cost of
construction is expected to be about $380 million, which will be
funded through bond issuance in the second quarter of 2025. Phase 2
capacity is already contracted with two counterparties, which
represent annual EBITDA of about $40 million-$50 million. We expect
EBITDA generation will start in the fourth quarter of 2026 upon
project completion. Contracts for both Jefferson and Repauno have
minimum volume commitment features and are fee-based. Therefore, we
expect the volatility of Jefferson's and Repauno's EBITDA will be
moderate once contracts start to generate cash flows. We note that
FIP's longer-term growth relies heavily on further contract
executions at Jefferson and Repauno segments. Our base case assumes
continued contract executions occur throughout our forecast
period."

S&P said, "We view FIP's capital structure as sustainable
currently, but consistently high leverage remains a key risk. We
take a consolidated view of FIP's financial metrics; that is, we
proportionally consolidate operating entities' debt and EBITDA into
FIP's metrics, although operating entities' debt is nonrecourse to
FIP. We expect FIP's S&P Global Ratings-adjusted debt will be about
$3.4 billion-$3.5 billion at the end of 2025 after the Long Ridge
transaction and Repauno bond issuance. This is about a $1.2
billion-$1.3 billion increase from FIP's year-end 2024 metrics.
Under our current base-case forecast, we expect FIP's S&P Global
Ratings-adjusted leverage will be about 14x-15x in 2025, 11x-12x in
2026, and 8x-9x in 2027. The $3.4 billion debt outstanding includes
$58 million that is due within the next 12 months at Jefferson. The
company plans to refinance Jefferson's debt in mid-2025. In the
event Jefferson failed to refinance the debt, FIP would be able to
use its cash and short-term investments to repay it. However, the
elevated debt balance during our forecast period leads to potential
risk related to the company's ability to repay its interest expense
using internally generated cash flows. Under our current base-case
forecast, we expect FIP's S&P Global Ratings-adjusted EBITDA cash
interest coverage will be about 1.0x in 2025 and 1.3x in 2026.

"The stable outlook reflects our expectation that FIP will
deleverage over the next few years following the completion of the
Long Ridge transaction and construction projects at operating
entities. We expect Repauno's phase 2 construction project will be
in-service on time and the company will continue to execute
contracts at Jefferson to increase its asset utilization and
throughput volume, which will spur FIP's longer-term growth."

S&P could lower its rating on FIP if:

-- Debt refinancing becomes difficult;

-- Additional incremental debt is incurred without an immediate
cash flow benefit;

-- S&P Global Ratings-adjusted debt to EBITDA is above 15x;

-- S&P Global Ratings-adjusted EBITDA cash interest coverage is
below 1x; or

-- Liquidity is constrained.

Although unlikely over our forecast period, S&P could consider a
positive rating action if FIP significantly increased the scale of
its operation and maintained S&P Global Ratings-adjusted debt to
EBITDA below 7x.



GENUINE GENIUS: Seeks Chapter 11 Bankruptcy in Nevada
-----------------------------------------------------
On April 3, 2025, Genuine Genius Technologies LLC filed Chapter
11 protection in the U.S. Bankruptcy Court for the District of
Nevada. 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 Genuine Genius Technologies LLC

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.

Genuine Genius Technologies LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-11946)
on April 3, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million.

Honorable Bankruptcy Judge August B. Landis handles the case.

The Debtor is represented by Matthew C. Zirzow, Esq. at LARSON &
ZIRZOW, LLC.


GIRARDI & KEESE: Tom's Prison Option Hearing Postponed to May
-------------------------------------------------------------
Elliot Weld of Law360 reports that the hearing to decide whether
disbarred attorney Tom Girardi should face prison time or be
committed to a care facility due to his dementia has been delayed
until May 2025 to accommodate witness availability.

The Troubled Company Reporter, citing Elliot Weld of Law360
Bankruptcy Authority, previously reported that Los Angeles federal
prosecutors are seeking a 10-year prison sentence for Girardi
Keese's former head of accounting, who admitted to helping Tom
Girardi divert client settlement funds and carrying out a "brazen"
scheme to steal from the firm's operating accounts.

                    About Girardi & Keese

Girardi and Keese or Girardi & Keese was a Los Angeles-based law
firm founded in 1965 by lawyers Thomas Girardi and Robert Keese. It
served clients in California in a variety of legal areas. It was
known for representing plaintiffs against major corporations.

An involuntary Chapter 7 petition (Bankr. C.D. Cal. Case No.
20-21022) was filed in December 2020 against GIRARDI & KEESE by
alleged creditors Jill O'Callahan, Robert M. Keese, John Abassian,
Erika Saldana, Virginia Antonio, and Kimberly Archie.

The petitioners' attorneys is Andrew Goodman, at Goodman Law
Offices, Apc.

Elissa D. Miller, a member of the firm SulmeyerKupetz, has been
appointed as Chapter 7 trustee for GIRARDI KEESE.


GLOBAL CONCESSIONS: Seeks Chapter 11 Bankruptcy in Georgia
----------------------------------------------------------
On April 2, 2025, Global Concessions 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
$10 million and $50 million in debt owed to 100 and 199 creditors.
The petition states funds will be available to unsecured
creditors.

           About Global Concessions Inc.

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.

Global Concessions Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-53640) on April 2,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million.

The Debtor is represented by Benjamin Keck, Esq. at KECK LEGAL,
LLC.


GOEROE'S GOLDENS: Updates Unsecured Claims Pay; Files Amended Plan
------------------------------------------------------------------
Goeroe's Goldens, LLC, submitted a Disclosure Statement for Fourth
Amended Plan of Reorganization dated March 12, 2025.

The Plan will pay 100% dividend on all Allowed Claims with interest
within eighteen months of the Effective Date.

The Plan will be funded primarily from a refinance or sale of the
Debtor's Real Property located at 4730 State Highway, Eastham, MA,
with interim payments funded by the Debtor's operations, including
monthly interest payments on the principal portion of the Nubridge
Allowed Claim of Nubridge Commercial Lending LLC, quarterly
payments to the Town of Eastham for pre-petition municipal charges,
and semi-annual payments of $10,000 towards the Allowed General
Unsecured Claims.

The Plan provides for the creation of a Creditor Trust to hold a
mortgage on the Debtor's Real Property to secure the payment
required under the Plan.

In July 2024 the Debtor, Willy's, Barbara Niggel, Revolution
Energy, and two third and fourth-party defendants brought into the
litigation by other parties, Dynamic Solar, LLC and Commonwealth
Electrical Technologies, Inc., engaged in mediation. A settlement
was not reached on that day but the parties have continued to
negotiate and have reached an agreement on the material terms of a
settlement.

The parties are finalizing the settlement documents, which must
then be reviewed and approved by various insurers involved in the
process. The Debtor anticipates that a motion to approve the
settlement can be filed by the first week of April. For purposes of
the Plan, Revolution is treated in Class 3 as holding a General
Unsecured Claim.

The expected settlement agreement is complex, addressing issues
related to the generation and transmission of electricity from the
solar panels on the Debtor's Real Property. The financial terms of
the agreement, however, are simple. The Debtor, Willy's and Niggel
collectively will pay Revolution a total of $200,000 in equal
monthly payments beginning after the Court approves the settlement
and continuing to January 2038, except that if the Debtor sells the
Real Property, the entire amount will be due upon the sale.

The estimated amount of the monthly payments under the expected
settlement is approximately $1,300.00 and will be paid by Willy's
and/or Niggel, not the Debtor. In addition, the Debtor, Willy's and
Niggel will be entitled to a credit of $500.00 a month if
Revolution builds a pad on the Real Property to transmit the
electricity to a new offtaker.

Class Three consists of the Allowed General Unsecured Claims
against the Debtor. In full and complete satisfaction, settlement,
release and discharge of all Class Four claims, each holder of an
Allowed General Unsecured Claim shall receive payment in full, plus
interest at the federal judgment rate applicable on the Effective
Date, no later than the eighteenth month following the Effective
Date, unless a different treatment is agreed to between the Debtor
and the holder of an Allowed General Unsecured Claim. In the
interim, the Debtor will make semi-annual payments of $10,000.00 to
be distributed pro rata to the holders of the Allowed General
Unsecured Claims. The semi-annual payments will begin three months
following the Effective Date.

In order to secure payment of the Allowed General Unsecured Claims,
the Debtor shall establish the Creditor Trust and grant the
Creditor Trustee the Creditor Trust Mortgage. Upon payment in full
of the Allowed General Unsecured Claims (i) the Creditor Trust
Mortgage shall be deemed canceled, discharged and released, and
(ii) the Creditor Trustee shall deliver to the Reorganized Debtor
all lien releases and any other documents necessary to effect the
discharge and release of the Creditor Trust Mortgage on the Real
Property.

The Plan will be funded from the Debtor's on-going rental income
and through a refinance or sale of the Real Property. The proposed
refinance or sale will close no later than the eighteenth month
following the Effective Date. Upon the Effective Date, the Debtor
is authorized to take all action permitted by law, including,
without limitation, to use cash and other Assets for all purposes
provided for in the Plan and in its operations, to borrow funds, to
transfer funds between itself and any other entity for any
legitimate purpose, including but not limited to cash management,
to refinance its secured obligations, and to sell its existing
Assets.

In order to secure the payment of the Allowed General Unsecured
Claims, on and as of the Effective Date, (i) the Creditor Trust
shall be deemed created and in effect in accordance with the terms
and conditions of the Creditor Trust Instrument, (ii) the Creditor
Trust Mortgage shall be deemed transferred to the Creditor Trust,
and (iii) in accordance with the terms of the Creditor Trust, the
initial Creditor Trustee shall be appointed and deemed the duly
appointed representative of the Estate pursuant to Code Section
1123(b)(3)(B) but only with respect to the Creditor Trust
Mortgage.

Any creditor can contact Debtor's counsel at any time at the
address, phone number and/or email address contained herein to
request an update on the status of the Debtor's sale or refinance
efforts.

A full-text copy of the Fourth Amended Plan dated March 12, 2025 is
available at https://urlcurt.com/u?l=PEo3h1 from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     Kate E. Nicholson, Esq.
     Nicholson PC
     21 Bishop Allen Dr.
     Cambridge, MA 02139
     Telephone: (857) 600-0508
     Email: knicholson@nicholsonpc.com

                       About Goeroe's Goldens

Goeroe's Goldens is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)).

Goeroe's Goldens filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No.
24-10275) on Feb. 13, 2024, listing $1 million to $10 million in
both assets and liabilities.  The petition was signed by Barbara A.
Niggel as manager.

Kate E. Nicholson, Esq., at NICHOLSON P.C., is the Debtor's
counsel.


GOL LINHAS: Court Approves Disclosure Statement
-----------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved the adequacy of the disclosure statement for the second
modified third amended joint Chapter 11 plan of reorganization of
GOL Linhas Aereas Inteligentes S.A. ("GLAI") and its
debtor-affiliates.

The deadline to vote to accept or reject the Debtors' amended joint
Chapter 11 plan is May 12, 2025, at 4:00 p.m. (prevailing Eastern
Time).

The Plan is the result of extensive good faith negotiations among
the Debtors, led by the restructuring committee of GLAI's board of
directors (the "Restructuring Committee"), and the Debtors' key
economic stakeholder groups. The Plan is supported by, among
others, the Committee and Abra (the Debtors' largest prepetition
secured lender and equity holder).

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 an 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;

     * the Debtors will restructure certain other secured debt 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 up to
approximately $235 million (and possibly more) based upon the
resolution of certain issues.

Class 10(a) consists of all GLAI General Unsecured Claims. Except
to the extent previously paid or the holder agrees to less
favorable treatment, on the Effective Date, each holder of an
Allowed GLAI General Unsecured Claim shall receive, in full and
final satisfaction of its Allowed GLAI General Unsecured Claim, its
Pro Rata share of the GLAI General Unsecured Claimholder
Distribution. This Class will receive a distribution of 0.9% to
1.2% of their allowed claims. Class 9(a) is Impaired under the
Plan.

Class 10(b) consists of all GLA General Unsecured Claims. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GLA
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GLA General Unsecured Claim, its Pro
Rata share of the GLA General Unsecured Claimholder Distribution.
This Class will receive a distribution of 8.1% to 11.0% of their
allowed claims. Class 9(b) is Impaired under the Plan.

Class 10(c) consists of all GFL General Unsecured Claims. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GFL
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GFL General Unsecured Claim, its Pro
Rata share of the GFL General Unsecured Claimholder Distribution.
This Class will receive a distribution of 18.8% to 20.8% of their
allowed claims. Class 9(c) is Impaired under the Plan.

Class 10(d) consists of all GFC General Unsecured Clams. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GFC
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GFC General Unsecured Claim, its Pro
Rata share of the GFC General Unsecured Claimholder Distribution.
This Class will receive a distribution of 3.4% to 3.8% of their
allowed claims. Class 9(d) is Impaired under the Plan.

Class 10(e) consists of all GEF General Unsecured Claims. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GEF
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GEF General Unsecured Claim, its Pro
Rata share of the GEF General Unsecured Claimholder Distribution.
This Class will receive a distribution of 0% of their allowed
claims. Class 9(e) is Impaired under the Plan.

Class 10(f) consists of all GAC General Unsecured Claims. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GAC
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GAC General Unsecured Claim, its Pro
Rata share of the GAC General Unsecured Claimholder Distribution.
This Class will receive a distribution of 3.6% to 6.3% of their
allowed claims. Class 9(f) is Impaired under the Plan.

Class 10(g) consists of all GTX General Unsecured Claims. Except to
the extent previously paid or the holder agrees to less favorable
treatment, on the Effective Date, each holder of an Allowed GTX
General Unsecured Claim shall receive, in full and final
satisfaction of its Allowed GTX General Unsecured Claim, its Pro
Rata share of the GTX General Unsecured Claimholder Distribution.
This Class will receive a distribution of 0% of their allowed
claims. Class 9(g) is Impaired under the Plan.

Class 10(h) consists of all Smiles Fidelidade General Unsecured
Claims. Except to the extent previously paid or the holder agrees
to less favorable treatment, on the Effective Date, each holder of
an Allowed Smiles Fidelidade General Unsecured Claim shall receive,
in full and final satisfaction of its Allowed Smiles Fidelidade
General Unsecured Claim, subject to the Smiles General Unsecured
Claims Cap, payment in an amount equal to the Allowed amount of
such Claim, either in Cash or in New Equity at the Debtors'
election, in consultation with Abra and the Committee. This Class
will receive a distribution of 100% of their allowed claims. Class
9(h) is Impaired under the Plan.

Class 10(i) consists of all Smiles Viagens General Unsecured
Claims. Except to the extent previously paid or the holder agrees
to less favorable treatment, on the Effective Date, each holder of
an Allowed Smiles Viagens General Unsecured Claim shall receive, in
full and final satisfaction of its Allowed Smiles Viagens General
Unsecured Claim, subject to the Smiles General Unsecured Claims
Cap, payment in an amount equal to the Allowed amount of such
Claim, either in Cash or in New Equity at the Debtors' election, in
consultation with Abra and the Committee. This Class will receive a
distribution of 100% of their allowed claims. Class 9(i) is
Impaired under the Plan.

Class 10(j) consists of all Smiles Argentina General Unsecured
Claims. Except to the extent previously paid or the holder agrees
to less favorable treatment, on the Effective Date, each holder of
an Allowed Smiles Argentina General Unsecured Claim shall receive,
in full and final satisfaction of its Allowed Smiles Argentina
General Unsecured Claim, subject to the Smiles General Unsecured
Claims Cap, payment in an amount equal to the Allowed amount of
such Claim, either in Cash or in New Equity at the Debtors'
election, in consultation with Abra and the Committee. This Class
will receive a distribution of 100% of their allowed claims. Class
9(j) is Impaired under the Plan.

Class 10(k) consists of all Smiles Viajes General Unsecured Claims.
Except to the extent previously paid or the holder agrees to less
favorable treatment, on the Effective Date, each holder of an
Allowed Smiles Viajes General Unsecured Claim shall receive, in
full and final satisfaction of its Allowed Smiles Viajes General
Unsecured Claim, subject to the Smiles General Unsecured Claims
Cap, payment in an amount equal to the Allowed amount of such
Claim, either in Cash or in New Equity at the Debtors' election, in
consultation with Abra and the Committee. This Class will receive a
distribution of 100% of their allowed claims. Class 9(k) is
Impaired under the Plan.

Class 10(l) consists of all CAFI General Unsecured Claims. Except
to the extent previously paid or the holder agrees to less
favorable treatment, on the Effective Date, each holder of an
Allowed CAFI General Unsecured Claim shall receive, in full and
final satisfaction of its Allowed CAFI General Unsecured Claim, its
Pro Rata share of the CAFI General Unsecured Claimholder
Distribution. This Class will receive a distribution of 0% of their
allowed claims. Class 9(l) is Impaired under the Plan.

Class 10(m) consists of all Sorriso General Unsecured Claims.
Except to the extent previously paid or the holder agrees to less
favorable treatment, on the Effective Date, each holder of an
Allowed Sorriso General Unsecured Claim shall receive, in full and
final satisfaction of its Allowed Sorriso General Unsecured Claim,
its Pro Rata share of the Sorriso General Unsecured Claimholder
Distribution. This Class will receive a distribution of 0% of their
allowed claims. Class 9(m) is Impaired under the Plan.

Class 11 consists of all General Unsecured Convenience Class
Claims. Except to the extent previously paid or the holder agrees
to less favorable treatment, on the Effective Date, each holder of
an Allowed General Unsecured Convenience Class Claim shall receive,
in full and final satisfaction of its Allowed General Unsecured
Convenience Class Claim, Cash in an amount equal to 15% of the
amount of such Allowed General Unsecured Convenience Class Claim,
provided, however, if the aggregate amount of distributions to
holders of Allowed General Unsecured Convenience Class Claims would
otherwise exceed the General Unsecured Convenience Class Claim
Fund, holders of such Claims shall receive their Pro Rata share of
the General Unsecured Convenience Class Claim Fund.

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); provided, that the
jurisdiction of organization of New GOL Parent, its capitalization,
and whether New Equity is publicly traded will be agreed by the
Debtors, Abra, and the Committee in a manner designed to maximize
the liquidity of New Equity and minimize cost, and such terms shall
be disclosed in the Plan Supplement.

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 Facility) and from the Cash
proceeds from the issuance of any Incremental New Money Exit
Financing.

A full-text copy of the disclosure statement is available for free
at https://tinyurl.com/3t3euwcy

A full-text copy of the third amended Chapter 11 plan is available
for free at https://tinyurl.com/44b5rew5

                          About Gol Linhas

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.


GOL LINHAS: May 20 Chapter 11 Plan Confirmation Hearing Set
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
will hold a hearing on May 20, 2025, at 10:00 a.m., to confirm the
second modified third amended joint Chapter 11 plan of
reorganization of GOL Linhas Aereas Inteligentes S.A. ("GLAI") and
its debtor-affiliates.  Objection to the confirmation of the
Debtors' amended Chapter 11 plan is May 6, 2025.

                         About Gol Linhas

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.


GOL LINHAS: Says Court Okays Deal with Boeing
---------------------------------------------
Augusto Decker of Bloomberg Law reports that Gol disclosed in a
filing that the U.S. Bankruptcy Court for the Southern District of
New York has authorized a series of agreements involving the
company and its subsidiaries.

The agreements with Boeing are expected to provide "significant
benefits" to Gol, which currently has 91 Boeing 737 MAX aircraft on
order, according to Bloomberg Law.

Combined with a previously reported tax settlement, the agreements
will facilitate a minimum capital distribution of US$235 million to
general unsecured creditors, with the potential for a higher amount
based on continued negotiations with other creditors, the filing
states.

                   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.


HOSPITALITY AT YORK: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Hospitality at York, LLC
          d/b/a Holiday Inn Express, York, PA 17402
        18 Cinema Drive
        York, PA 17402

Business Description: Hospitality at York, LLC, operating as
                      Holiday Inn Express, is a hotel located at
                      18 Cinema Drive, York, PA 17402.  The hotel
                      offers amenities such as an indoor swimming
                      pool, fitness center, free Wi-Fi, and
                      complimentary breakfast.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       Middle District of Pennsylvania

Case No.: 25-00938

Judge: Hon. Henry W Van Eck

Debtor's Counsel: Lawrence V. Young, Esq.
                  CGA LAW FIRM
                  135 North George Street
                  York, PA 17401
                  Tel: 717-848-4900
                  Fax: 717-843-9039
                  E-mail: lyoung@cgalaw.com

Total Assets: $7,569,000

Total Liabilities: $6,744,840

The petition was signed by Parag Parikh as member.

The Debtor's petition indicates there are no unsecured creditors.

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

https://www.pacermonitor.com/view/XNMDCOY/Hospitality_at_York_LLC__pambke-25-00938__0001.0.pdf?mcid=tGE4TAMA


HOUSE SPIRITS: Case Summary & 14 Unsecured Creditors
----------------------------------------------------
Debtor: House Spirits Distillery LLC
        65 SE Washington Street
        Portland OR 97214

Business Description: Founded in 2004, House Spirits Distillery
                      LLC, operating under the name Westward
                      Whiskey, is a Portland, Oregon-based
                      distillery that produces, markets, sells,
                      and distributes high-quality American single

                      malt whiskeys.  Westward has become one of  

                      the most well-known and respected craft
                      distilleries in the U.S., leading the way in
                      the emerging Premium American Whiskey
                      category.  Unlike traditional single malts
                      made only from malted barley, Westward
                      employs a distinctive process that blends
                      elements from American craft ale, Scottish
                      single malt, and bourbon traditions.  The
                      distillery benefits from the unique climate
                      of the Pacific Northwest, where hot, dry
                      summers and cool, wet winters contribute to
                      the development of exceptional, world-class
                      whiskeys.

Chapter 11 Petition Date: April 6, 2025

Court: United States Bankruptcy Court
       District of Delaware

Case No.: 25-10660

Judge: Hon. Karen B Owens

Debtor's Counsel: Joseph C. Barsalona II, Esq.
                  PASHMAN STEIN WALDER HAYDEN, P.C.
                  824 North Market Street, Suite 800
                  Wilmington DE 19801
                  Tel: (302) 592-6496
                  Email: jbarsalona@pashmanstein.com

Debtor's
Claims Agent:     EPIQ CORPORATE RESTRUCTURING, LLC
  
Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Thomas Mooney as CEO.

A full-text copy of the petition, which includes a list of the
Debtor's 14 unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/XN6Z4LY/House_Spirits_Distillery_LLC__debke-25-10660__0001.0.pdf?mcid=tGE4TAMA


IDEAL HEALTH: Gets Final OK to Use Cash Collateral Until July 31
----------------------------------------------------------------
Ideal Health and Fitness Corp. received final approval from the
U.S. Bankruptcy Court for the Eastern District of California to use
cash collateral through July 31.

The final order signed by Judge Frederick Clement approved the use
of cash collateral to pay the expenses set forth in the company's
revised projections, which show total expenses of $48,887.43 for
April; $48,887.43 for May; $43,887.43 for June; $38,887.43 for
July; and $38,887.43 for August.

Secured creditors including Kapitus, LLC and Black Olive Capital,
LLC were granted replacement liens on post-petition assets of Ideal
Health and Fitness to the same extent and with the same validity
and priority as their pre-bankruptcy liens.

As additional protection, Kapitus and Black Olive Capital will
receive monthly payments of $1,400 and $1,367, respectively.

                    About Ideal Health and Fitness Corp.

Ideal Health and Fitness Corp. sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 24-25682)
on December 18, 2024, with up to $500,000 in assets and up to $1
million in liabilities. Ben Ragsac, Jr., president and chief
executive officer of Ideal Health and Fitness, signed the
petition.

Judge Frederick E. Clement oversees the case.

Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger,
represents the Debtor as bankruptcy counsel.


INDIVIDUALIZED ABA: Quality of Care Maintained, 2nd PCO Report Says
-------------------------------------------------------------------
Jacob Nathan Rubin, the patient care ombudsman, filed with the U.S.
Bankruptcy Court for the Northern District of California his second
report regarding the quality of patient care provided by
Individualized ABA Services for Families, LLC.

The PCO noted that this second report consists of his in-depth
evaluation of the company's adherence to, and compliance with the
applicable medical standard of patient care as defined by the
Institute of Medicine (Medicare & Lohr), during the bankruptcy
proceedings.

The PCO found that the company has closed its operations. However,
to ensure continuity of care for all patients, the company has
established a new business and transferred all clients to the new
company. This transition was conducted in a structured manner,
ensuring that no transfer trauma occurred for any client.

Mr. Rubin observed that all patients continued receiving
uninterrupted services under the same high standards of care, and
by the same providers. The company successfully maintained
continuity of care throughout the transition, ensuring stability
for families and patients reliant on these critical services.

The PCO cited that the findings from both of his reports confirm
that patient care has remained consistent and uninterrupted
throughout the bankruptcy proceedings and business transition. The
company successfully transferred all clients to a newly established
business without causing any disruptions or trauma to patients.

A copy of the ombudsman report is available for free at
https://urlcurt.com/u?l=6JbWHj from PacerMonitor.com.

The ombudsman may be reached at:

      J. Nathan Rubin, M.D.
      4955 Van Nuys Blvd., #308,
      Sherman Oaks, CA 91403
      Telephone: (818) 501-1455
      Email: jnrubinmd@yahoo.com

                 About Individualized ABA Services
                           for Families

Individualized ABA Services for Families, LLC sought relief under
Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.
Calif. Case No. 24-41559) on October 2, 2024, with total assets of
$193,244 and total liabilities of $1,635,914. Raajna Naidu, chief
executive officer, signed the petition.

Judge William J. Lafferty oversees the case.

The Debtor is represented by Michael Jay Berger, Esq., at the Law
Offices of Michael Jay Berger.

Jacob Nathan Rubin is the patient care ombudsman appointed in the
case.


INNOVATIVE DESIGNS: Reports $36,202 Net Income in Q1 2025
---------------------------------------------------------
Innovative Designs, Inc., filed with the U.S. Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net income of $36,202 on $543,916 of net revenues for the three
months ended Jan. 31, 2025, compared to a net loss of $63,393 on
$65,886 of net revenues for the three months ended Jan. 31, 2024.

As of Jan. 31, 2025, the Company had $1.9 million in total assets,
$300,837 in total liabilities, and $1.6 million in total
stockholders' equity.

A full-text copy of the Company's Form 10-Q is available at:

                  https://tinyurl.com/zw3trhd3

                     About Innovative Designs

Headquartered in Pittsburgh, Pennsylvania, Innovative Designs,
Inc., operates in two separate business segments: a house wrap for
the building construction industry and cold weather clothing.  Both
of the Company's segment lines use products made from Insultex,
which is a low-density polyethylene semi-crystalline, closed cell
foam in which the cells are totally evacuated, with buoyancy, scent
block, and thermal resistant properties.  The Company also offers a
product that helps restore the waterproof character of the outer
side of its Arctic Armor clothing.  In addition, the Company offers
cold weather headgear and base insulation clothing product.


Asesoria Global, S.A., the Company's auditor based in Guatemala
City, Guatemala, issued a 'going concern' qualification in its
report dated Feb. 19, 2025, attached in the Company's Form 10-K
Report for the year ended Oct. 31, 2024. The report cited that, due
to accumulated losses and the risks tied with the Company's heavy
reliance on two customers for sales, the Company is evaluating its
ability to continue as a going concern.


INRI LANDSCAPE: Gets Final OK to Use Cash Collateral
----------------------------------------------------
INRI Landscape Management, Inc. received final approval from the
U.S. Bankruptcy Court for the Northern District of Georgia,
Gainesville Division, to use cash collateral.

The final order authorized INRI to use cash collateral from March
31 until confirmation of a Chapter 11 plan of reorganization unless
an event of default occurs.  

Events of default include the conversion or dismissal of INRI's
Chapter 11 case and the removal of INRI as a debtor in possession.

Each creditor that held secured interest before the filing of
INRI's bankruptcy petition will be provided with protection in the
form of secured interest in and lien on post-petition assets of the
company.

A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/L2bPa from PacerMonitor.com.

                      About INRI Landscape Management Inc.

INRI Landscape Management Inc. filed Chapter 11 petition (Bankr.
N.D. Ga. Case No. 25-20039) on January 13, 2025, listing up to $1
million in assets and up to $10 million in liabilities. Stacey
Braselton, president of INRI, signed the petition.

Judge James R. Sacca oversees the case.

The Debtor is represented by:

   Bradley J. Patten, Esq.
   Smith, Gilliam, Williams & Miles, P.A.
   Tel: 770-536-3381
   Email: bpatten@sgwmfirm.com


IRON WORKS: Michael Wheatley Named Subchapter V Trustee
-------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Michael Wheatley as
Subchapter V trustee for Iron Works Enterprises Incorporated.

Mr. Wheatley will be paid an hourly fee of $275 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Mr. Wheatley 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 E. Wheatley
     P.O. Box 1072
     Prospect, KY 40059
     Phone: 502-744-6484
     Email: mwheatleytr@gmail.com

             About Iron Works Enterprises Incorporated

Iron Works Enterprises Incorporated, also known as Iron Works Inc.,
is a manufacturing company located in Bardstown, Ky., specializing
in transforming raw materials into industrial metal components and
structures, offering tailored solutions to meet the unique needs of
various industries and projects.

Iron Works Enterprises sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. KY Case No. 25-30563) on March
12, 2025, listing between $500,001 and $1 million in assets and
between $1 million and $10 million in liabilities. Charles Todd
Durbin, president of Iron Works Enterprises, signed the petition.

Judge Charles R. Merrill oversees the case.

Joseph H. Haddad, Esq., at Seiller Waterman, LLC represents the
Debtor as legal counsel.


JOYE MEDIA: S&P Withdraws 'B-' Issuer Credit Rating
---------------------------------------------------
S&P Global Ratings had withdrawn its 'B-' issuer credit rating on
Joye Media SLU and its 'B-' issue rating on its senior secured
debt, issued by Subcalidora 2 S.a.r.l, at the issuer's request.
Joye Media is the parent of sports and media company Mediapro. At
the time of the withdrawal, the outlook on our long-term issuer
credit rating was positive.



JUBILANT FLAME: Posts $60K Loss in 2024, Has 'Going Concern' Doubts
-------------------------------------------------------------------
Jubilant Flame International, Ltd. filed its Annual Report on Form
10-K with the Securities and Exchange Commission, revealing a net
loss of $59,672 on total sales of $0 for the year ending Feb. 28,
2025, compared to a net loss of $67,365 on zero total sales for the
year ending Feb. 29, 2024.

Beginning in the third quarter of the fiscal year ending Feb. 29,
2020, the Company launched a new business line focused on providing
technical support services for the development of new nutrition
food products.  However, the Company has yet to generate any
revenue from this initiative, raising significant concerns about
its ability to continue operations as a going concern.

As of Feb. 28, 2025, the Company had $12,925 in total assets, $1.37
million in total current liabilities, and a total stockholders'
deficit of $1.36 million.

At the same date, the Company had a working capital deficit of
$1,356,585.  It currently has limited profitable trading activities
and an accumulated deficit of $3,845,616 as of Feb. 28, 2025.

The Company stated it is exploring options to raise additional
capital, including selling equity securities, issuing debt
securities, or securing loans from financial institutions or
related parties.  The goal is to generate enough capital to support
its ongoing business plan in the nutrition food technical services
sector.  Management believes that the steps currently being taken
to secure funding offer a potential path for the Company to
continue operating.  However, there is no assurance that these
efforts will succeed.

To support its efforts and cash needs, the Company indicated that
it must rely on advances from related parties until it can either
sustain its operations or secure adequate financing through the
sale of equity or traditional debt.  It also noted that there is no
formal written commitment from shareholders for continued support,
and the advances are considered temporary and have not been
formalized through a promissory note.

The CEO confirmed her personal commitment to provide financial
support for the next twelve months from the balance sheet date.

As of Feb. 28, 2025, the Company had a $763,424 advance payment
from its CEO, Ms. Yan Li, compared to an outstanding balance of
$693,725 for Ms. Yan Li as of Feb. 29, 2024.  The advances are
non-interest bearing, due upon demand, and unsecured.  The Company
operates its business from an office provided by the CEO.

In its report dated April 3, 2025, the Company's auditor, KCCW
Accountancy Corp., issued a "going concern" qualification, citing
that the Company has suffered recurring losses from operations and
has a working capital and stockholders' deficit, that raise
substantial doubt about its ability to continue as a going
concern.

The complete text of the Form 10-K is available for free at:

https://www.sec.gov/Archives/edgar/data/1517389/000147793225002447/jfil_10k.htm

                   About Jubilant Flame International

Headquartered in Shanghai China, Jubilant Flame International, Ltd.
is currently engaged in providing technical support services for
the development of new nutrition materials and products.
Specifically, the Company focuses on a nutrition food series that
is marketed in the United States.  This product line includes
SEA-BUCKTHORN and Organic Sprouting Powder.  The Company leverages
the expertise of its technology background directors to offer
high-quality technical support to manufacturers in the U.S., aiding
in the development and promotion of these nutrition products.  The
shift to this new business model began in the third quarter of the
fiscal year ending Feb. 29, 2020, after the company ceased its
operations in the cosmetics sector in early 2020.  Previously, the
Company had been involved in marketing medical products and
cosmetics.


KAISER ALUMINUM: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable
-----------------------------------------------------------------
Fitch Ratings has affirmed Kaiser Aluminum Corporation's Long-Term
Issuer Default Rating (IDR) at 'BB-'. Fitch has also affirmed
Kaiser's asset-based loan (ABL) at 'BB+' with a Recovery Rating of
'RR1' and unsecured notes at 'BB-'/'RR4'. The Rating Outlook is
Stable.

Kaiser's ratings are supported by its low exposure to commodity
price fluctuations, diverse end market exposure, focus on products
with demanding application and high barriers to entry. The ratings
also reflect growing demand for aluminum products, driven by
increased emphasis on sustainability and light-weighting.

The Stable Outlook reflects Fitch's expectation EBITDA leverage
will decline below 4.5x in 2025 and be sustained at or below 3.5x
thereafter.

Key Rating Drivers

Margin Improvement: Kaiser has reported two consecutive years of
EBITDA margin improvement from trough levels of approximately 4.0%
in 2022, supported by stabilizing operations following supply chain
disruptions at its Warrick mill, cost efficiencies, and higher
pricing. Fitch anticipates Kaiser's EBITDA margins to reach roughly
9% by 2027, up from 7.4% in 2024.

Margin expansion will be driven by an improved product mix,
favorable contract renegotiations, and gradual strengthening across
most end markets. Kaiser expects a single digit uplift in margins
(as a percentage of sales) as the new roll coater at its Warrick
mill ramps up in 2H25, converting 25% of its existing capacity to
higher value-added coated products.

Improving End Market Demand: Fitch expects overall shipments to be
relatively flat in 2025 and to gradually improve thereafter.
Packaging demand growth is expected to be supported by solid demand
dynamics longer-term and U.S. supply shortages. Aerospace should
continue to recover over the next few years toward pre-pandemic
levels in line with travel demand and as supply chain issues
resolve. The automotive sector continues to be challenged by
near-term constraints from weak consumer sentiment and high
interest rates. Shipments for the general engineering market
improved by roughly 6% in 2024 as destocking appears largely
complete for long products.

Longer-term, Fitch believes Kaiser's end markets show significant
growth opportunities driven by increased sustainability awareness,
rising global travel demand, rising domestic semiconductor
manufacturing, and vehicle light-weighting initiatives.

Improved Leverage Expectations: Fitch expects EBITDA leverage to
trend below 4.5x in 2025 and be sustained at or below 3.5x through
2028, driven primarily by EBITDA growth. Kaiser's target net debt
leverage of 2.0x-2.5x supports Fitch's view that the company is
committed to deleveraging. Fitch does not anticipate any
incremental debt over the rating horizon and expects Kaiser to
refinance some of its $500 million unsecured notes maturing in
2028.

Manageable Capex: Fitch expects capex for the phase 7 Trentwood
expansion project will be modest and strategically timed, aligning
with increased demand in aerospace and high-strength markets, with
an investment of $25 million to be completed in 2025. Kaiser
projects total capex for 2025, including the remaining investment
for the fourth roll coat line at Warrick Kaiser, to be $125
million. Kaiser's maintenance capex has historically been roughly
60% of depreciation, and Fitch anticipates growth investments
ranging from $25 million to $50 million. Fitch expects capex to be
funded with cash on hand and FCF generation.

Metal Price Pass Through: Kaiser's EBITDA margins are less volatile
compared to aluminum prices as cost pass-through mechanisms are
integrated into many of its contracts. Any residual price risk is
mitigated through hedging. Fitch also expects Kaiser to be
minimally affected by aluminum tariffs due to its ability to pass
through metal price changes to customers. However, there tends to
be a lag in cost pass-throughs for certain high value-added
non-contract shipments during periods of significant fluctuations
in aluminum and alloy prices.

Peer Analysis

Kaiser has a similar end market diversification but is less
geographically diverse than leading global-rolled aluminum sheet
producer, Arsenal AIC Parent LLC (BB-/ Stable). Kaiser has a
marginally weaker financial profile compared to Arsenal, but it has
lower exposure to the cyclical building and construction markets.
AZZ, Inc (BB/ Stable), a pure play metals coating company has
significantly higher EBITDA margins and lower EBITDA leverage than
Kaiser, but it has limited exposure to the packaging and aerospace
end markets, and the majority of its shipments are tied to
construction.

Carpenter Technology Corporation (BB+/Stable) products are further
upstream than those of downstream aluminum peers Kaiser and
Arsenal. Carpenter is slightly larger, has higher EBITDA margins
and lower EBITDA leverage than Kaiser.

Key Assumptions

- Fitch commodity price deck for aluminum (LME spot) of
$2,500/tonne (t) in 2025-2026 and $2,300/t in 2027-2028;

- Total shipments average around 3% driven by additional production
from the Trentwood mill expansion Phase VII and end market
recovery;

- EBITDA margins improve to around 9% in 2026-2028 driven by
increased value-added coated packaging products and favorable
contract renegotiations;

- Trentwood Phase VII expansion completed in 2H25;

- New roll coat line reaches full run-rates in 2026;

- Capex of around $125 million-$140 million from 2025-2028;

- Dividends remain at current level;

- No acquisitions or share repurchases through 2028.

RATING SENSITIVITIES

Factors That Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- EBITDA leverage sustained above 4.5x;

- EBITDA margins expected to be sustained below 8%.

Factors That Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- EBITDA margins sustained above 10%, reflective of improved market
conditions;

- EBITDA leverage sustained below 3.5x.

Liquidity and Debt Structure

As of Dec. 31, 2024, Kaiser had cash and cash equivalents of
approximately $18 million and $553 million of availability under
its $575 million ABL credit facility due 2027. Approximately $22
million was utilized for LOCs, and the company had no outstanding
borrowings. The ABL is subject to a borrowing base calculated at
$575 million as of Dec. 31, 2024, and includes a 1.0x fixed-charge
coverage covenant if excess availability falls below the greater of
(i) 10% of the line cap, which is the lesser of $575 million and
borrowing base, and (ii) $46 million.

The ABL is subject to a pricing grid of SOFR+125bp-150bp depending
on whether average excess availability is greater than or equal to
40% of the maximum revolver amount.

Issuer Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated
specialty aluminum mill products for the following end market
applications: aerospace and high strength; packaging; automotive;
general engineering; and other industrial applications.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt              Rating          Recovery   Prior
   -----------              ------          --------   -----
Kaiser Aluminum
Corporation           LT IDR BB-  Affirmed             BB-

   senior unsecured   LT     BB-  Affirmed    RR4      BB-

   senior secured     LT     BB+  Affirmed    RR1      BB+


KIRCHOFF OIL: Janice Seyedin Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 11 appointed Janice Seyedin as
Subchapter V trustee for Kirchoff Oil, Inc.  

Ms. Seyedin will be paid an hourly fee of $295 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Ms. Seyedin declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.

                     About Kirchoff Oil Inc.

Kirchoff Oil Inc. owns and operates an attended self-service gas
station located at 4200 Kirchoff Road in Rolling Meadows, Ill.

Kirchoff Oil sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-03686) on March
1, 2025. In its petition, the Debtor reported between $1 million
and $10 million in both assets and liabilities.

Judge Donald R. Cassling handles the case.

The Debtor is represented by:

     Paul M. Bach, Esq.
     Bach Law Offices
     P.O. Box 1285
     Northbrook, IL 60065
     Email: paul@bachoffices.com


KOHL'S CORP: Fitch Lowers IDR to 'BB-', Outlook Negative
--------------------------------------------------------
Fitch Ratings has downgraded Kohl's Corporation to 'BB-' from 'BB'.
The Rating Outlook is Negative.

The downgrade and Negative Outlook reflect the company's ongoing
operational challenges, raising concerns about the timing of
business stabilization in the medium term. The company recently
replaced its CEO and is adjusting its operating strategy, but its
ability to stabilize market share, particularly in apparel, is
unknown. The rating recognizes the company's resources for
executing its turnaround, including a reasonable asset base and
ability to invest $400 million in capex for topline initiatives.

Fitch projects 2025 EBITDA could decline 15% to 20% to mid-$800
million on mid-single-digit declines in revenue, yielding EBITDAR
leverage in the low-4x. Fitch could revise Kohl's Outlook to Stable
if evidence shows the company can improve its topline trajectory
and stabilize EBITDA around $800 million.

Additionally, Fitch has removed Kohl's ratings from Under Criteria
Observation (UCO).

Key Rating Drivers

Weakening Performance: Kohl's results have been weak, with 2024
revenue and EBITDA declining 20% and 50% from 2019 levels,
respectively despite growth in newer categories like beauty via
Sephora. The company's market share declines in core categories
like apparel appear worse than peers in the challenged department
store industry, suggesting company-specific execution challenges.
Recent events underscore Kohl's near-term challenges, including
weak 2025 guidance implying another year of revenue and EBITDA
declines, a CEO change, the announced closure of 27 stores (about
2% of the base), and a 75% dividend reduction.

The new CEO's initial strategy is to sharpen the merchandise
assortment, improve the company's value messaging, and optimize its
omnichannel model to provide a frictionless shopping experience.
Fitch believes these are reasonable focus areas; however, given the
company's recent history, magnified by secular challenges in the
department store industry and near-term headwinds for discretionary
goods, the timing and level of an operating stabilization is
unknown. Recently announced tariffs could complicate Kohl's
stabilization trajectory given a material level of imports across
its merchandise assortment.

Operating Challenges: Kohl's weak operating trajectory and evolving
strategies to stabilize performance highlight the difficulties in
executing effectively to stabilize department store operations.
Department stores will continue to face longer-term secular
obstructions, including consumers spending less time in malls (less
of an impact on Kohl's, given its off-mall positioning), changes in
apparel buying behavior and encroaching competition from newer
channels, including value-oriented and online players. Nearer term
challenges also include somewhat waning consumer sentiment and
potential impacts from tariffs on consumer inflation and
operational complexity.

Fitch historically viewed Kohl's as capable of navigating industry
challenges and defend or even gain share. The company has a
reasonable store base with limited indoor mall exposure, good
omnichannel capabilities, and cash flow generation to materially
invest in topline strategies and productive relationships with
merchandise vendors and key partners. Following recent performance,
Fitch believes the company's medium term turnaround prospects are
limited with revenue and EBITDA stabilizing around $15 billion and
$800 million, respectively, as a best-case scenario.

Leverage Around Low-4x: Kohl's EBITDAR leverage could be in the
low-4x range beginning in 2025 with EBITDAR fixed charge coverage
in the high-1x. The company would need to demonstrate stabilizing
operations to support its existing rating with leverage remaining
below 4.5x. The company's debt structure includes $1.5 billion in
unsecured notes with about $350 million due in July 2025. The
company may need to issue secured debt to refinance upcoming
maturities.

Positive Cash Flow Generation: Kohl's good cash generation is an
asset, allowing the company some flexibility to invest in topline
initiatives. The company plans to invest about $400 million, or
mid-2% of revenue, in 2025 capex. Capex investments could support
the company's omnichannel model, including ecommerce and supply
chain infrastructure, and store refreshes. Following the company's
75% dividend cut, Fitch projects FCF after dividends and adding
back non-cash finance lease amortization around $300 million in
2025.

Peer Analysis

Other Fitch-rated U.S. department store peers include national
competitors Macy's, Inc. (BBB-/Stable) and Nordstrom, Inc.
(BB/Stable) and regional player Dillard's, Inc. (BBB-/Positive).
Each is contending with the industry's secular headwinds and
continuously refining strategies to defend market share.
Initiatives include investments in omnichannel models, portfolio
reshaping to reduce exposure to weaker indoor malls, and efforts to
strengthen merchandise assortments and service levels.

These initiatives have had varying levels of success in recent
years, with Dillard's showing the best operating trajectory.
Nordstrom and Kohl's have produced the weakest results across
topline and profitability, while Macy's results have been somewhat
mixed, with topline declines mitigated by good inventory and
expense management with limited EBITDA contraction.

Structurally, the three national players should be best positioned
to accelerate investment and transformation efforts given greater
relative scale and cash flow generation. In particular, Kohl's
should benefit from its off-mall real estate positioning, while
Nordstrom should benefit from its exposure to the off-price
subsector and the higher-end merchandise positioning of its full
price locations. However, neither has demonstrated an ability to
capitalize on what should be fundamental advantages, which Fitch
expects is likely due to execution challenges.

Dillard's has modest leverage given limited debt levels. Fitch
projects Macy's EBITDAR leverage to trend in the high-2x range
while Nordstrom's EBITDAR leverage could trend near 3x. Fitch
expects Kohl's leverage to trend in the low-4x range assuming it
can stabilize EBITDA around $800 million.

Key Assumptions

- Fitch projects Kohl's 2025 revenue to decline by about 6%, to
low-$15 billion from $16.2 billion in 2024 and well below the $20
billion recorded in 2019. Declines in 2025 are forecast to be
driven by comparable store sales declines, particularly in the
apparel and accessories categories. Revenue could stabilize around
$16 billion, assuming the company can continue to grow newer
categories like beauty while implementing strategies to stabilize
the declining apparel business. Fitch projects Kohl's comparable
store sales to remain flattish to slightly negative through the
medium term.

- EBITDA, which was about $1 billion in 2024 relative to $2 billion
in 2019, could moderate to about $870 million in 2025, given
revenue declines and some topline investments. EBITDA could
stabilize around $800 million if revenue stabilizes around $16
billion, with margins trending in the mid-5% range relative to
about 10% in 2019.

- Annual FCF (after dividends and adding back non-cash finance
lease amortization) is projected to trend around $300 million over
the medium term, given its EBITDA assumptions, neutral working
capital, about $400 million of annual capex and annual dividends in
the $55 million range.

- FCF could be directed toward debt reduction, share buybacks or
additional business reinvestment. The company ended 2024 with $290
million outstanding on its ABL and has about $350 million of
unsecured notes due in July 2025.

- EBITDAR leverage (capitalizing leases at 8x), which was 3.9x in
2024 compared with the low-2x between 2018 and 2021 (excluding
pandemic-affected 2020) on lower EBITDA, could sustain in the
low-4x over the medium term, given Fitch's EBITDA projections.

- Achieving the above projections, including stabilizing revenue
and EBITDA, which supports Fitch's view of the company's ability to
defend share over time, could result in a stabilization of Kohl's
Rating Outlook.

- Kohl's capital structure primarily consists of unsecured debt
with a fixed-rate structure. Pricing for the company's ABL is based
on SOFR, with rates are forecast in the 4%-5% range over the medium
term, given the higher interest rate environment.

Recovery Analysis

Fitch does not employ a waterfall recovery analysis for issuers
assigned ratings in the 'BB' category. The further up the
speculative grade continuum a rating moves, the more compressed the
notching becomes. Fitch rates Kohl's ABL 'BB+'/'RR1', notched up
two ratings from the IDR given its security package; its unsecured
notes are rated 'BB-'/'RR4'.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- A downgrade could result from EBITDAR leverage sustained above
4.5x, because of either weaker-than-expected operating performance
or financial policy decisions. EBITDAR fixed charge coverage
sustained near 1.5x would also be a rating concern;

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- An Outlook revision to Stable could result if revenue and EBITDA
stabilize, yielding EBITDAR leverage sustained below 4.5x and
EBITDAR fixed charge coverage close to 2x.

- An upgrade to 'BB' would result from a combination of
better-than-expected operating performance and debt reduction,
which drove EBITDAR leverage below 4.0x and EBITDAR fixed charge
coverage toward 2.5x.

Liquidity and Debt Structure

As of Feb. 1, 2025, Kohl's had $134 million in cash and $290
million borrowed on its $1.5 billion ABL credit facility maturing
January 2028. The ABL is governed by a borrowing base of inventory
and receivables.

As of Feb 1, 2025, Kohl's debt included $1.5 billion of unsecured
notes and $290 million in borrowings on its ABL facility. The
company has about $350 million in unsecured debt due July 2025.
Fitch projects Kohl's will generate about $300 million of FCF after
adding back non-cash lease amortization beginning 2025, following
recent reductions to capex and dividends. Consequently, Fitch
believes the company could use a combination of cash and
refinancing to address its July 2025 maturity and outstanding
revolver borrowings, given recent debt-reduction efforts.

Fitch applies the 8x rent methodology to calculate Kohl's
lease-adjusted debt. The company has recently reset the useful life
of many of its leased properties following capital investments to
support the Sephora rollout, which has caused Kohl's implied lease
multiple to increase from 8x-9x to over 10x. Given the accounting
reset, Fitch views its historical 8x methodology a more appropriate
measurement of Kohl's lease obligations.

Issuer Profile

Kohl's is the second largest department store operator in the U.S.
with approximately $16 billion in revenue across its digital
presence and around 1,170 stores, largely in off-mall centers.

Summary of Financial Adjustments

Financial statement adjustments that depart materially from those
contained in the published financial statements of the relevant
rated entity or obligor are disclosed below:

- EBITDA adjusted for stock-based compensation;

- Operating lease expense capitalized by 8x for historical and
projected adjusted debt.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt              Rating          Recovery   Prior
   -----------              ------          --------   -----
Kohl's Corporation    LT IDR BB-  Downgrade            BB

   senior secured     LT     BB+  Downgrade   RR1      BBB-

   senior unsecured   LT     BB-  Downgrade   RR4      BB


LEFEVER MATTSON: Inks Deal to Use Freddie Mac's Cash Collateral
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
approved a stipulation allowing LeFever Mattson and its affiliates,
Red Cedar Tree, LP and Red Mulberry Tree, LP, to use the cash
collateral of Federal Home Loan Mortgage Corporation (Freddie
Mac).

The stipulation authorizes the use of cash collateral from April 1
to June 30 to pay the expenses of operating and maintaining the
Carmichael Apartments owned by Red Cedar and Courtyard Cottages
owned by Red Mulberry; make the monthly debt service payments of
$23,797.30 for Red Cedar; and make the monthly debt service
payments of $18,158.20 for Red Mulberry.

As protection for any diminution in the value of its interest in
the collateral, Freddie Mac was granted replacement liens on the
properties co-extensive with its pre-bankruptcy liens.

The companies are not allowed to use cash collateral to pay any of
their insiders without Freddie Mac's prior written consent or court
order.

Freddie Mac is represented by:
     
   Marsha A. Houston, Esq.
   Reed Smith LLP
   355 South Grand Avenue, Suite 2900
   Los Angeles, CA 90071
   Telephone: 213-457-8000
   Facsimile: 213-457-8080
   Mhouston@reedsmith.com

   -- and --

   Paul D. Moak, Esq.
   Devan J. Dal Col, Esq.
   Reed Smith LLP
   1221 Mckinney Street, Suite 2100
   Houston, TX 77010
   Telephone: 713-469-3800
   Facsimile: 713-469-3899
   Pmoak@reedsmith.com
   Ddalcol@reedsmith.com

                      About LeFever Mattson

LeFever Mattson, a California corporation, manages a large real
estate portfolio. Timothy LeFever and Kenneth W. Mattson each owns
50% of the equity in the company. Based in Citrus Heights, Calif.,
LeFever Mattson manages a portfolio of more than 200 properties,
comprised of commercial, residential, office, and mixed-use real
estate, as well as vacant land, located throughout Northern
California, primarily in Sonoma, Sacramento, and Solano Counties.
It generates income from the properties through rents and use the
proceeds to fund its operations.

LeFever Mattson and its affiliates filed voluntary Chapter 11
petitions (Bankr. N.D. Calif. Lead Case No. 24-10545) on September
12, 2024. At the time of the filing, LeFever Mattson listed $100
million to $500 million in assets and $10 million to $50 million in
liabilities.

Judge Charles Novack oversees the cases.

Thomas B. Rupp, Esq., at Keller Benvenutti Kim LLP represents the
Debtors as counsel. Kurtzman Carson Consultants, LLC is the
Debtors' claims and noticing agent.

The U.S. Trustee for Region 17 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.


LEISURE INVESTMENTS: 1st Hearing Focuses on Animals' Welfare, Care
------------------------------------------------------------------
Isabella Benjumea of wjhg.com reports that on April 2, 2025, the
United States Bankruptcy Court for the District of Delaware held
its first hearing regarding Leisure Investment Holdings, the
primary debtor in the Dolphin Company's bankruptcy case. The
session focused on concerns about the care and welfare of animals
at the company's facilities.

Leisure Investment Holdings' attorney revealed that the company has
not completed a financial audit since 2022 and has been facing
significant financial challenges for over a year. The company aims
to stabilize its management, ensure proper animal care, and gain
access to essential financial information, according to wjhg.com.

The judge approved the appointment of a new director to lead the
company and granted an automatic stay, allowing Gulf World and
other marine parks to continue operating while the restructuring
process unfolds. State and federal investigations into Gulf World
Marine Park are still ongoing, and local officials, including
Panama City Beach Mayor Stuart Tettemer, are closely monitoring the
situation, the report states.

"Our priority remains the safety of employees, visitors, and
animals. The local economy has not been impacted, thanks to our
proactive approach in maintaining safety and success," Mayor
Tettemer said.

The Dolphin Company is now required to submit all financial reports
to the court. The judge emphasized the urgency of this action,
given the company's responsibility for 2,400 animals and hundreds
of employees. A global restructuring was also deemed necessary by
the court, wjhg.com reports.

            About Leisure Investments Holdings LLC

Leisure Investments Holdings LLC and affiliates are operating under
the name "The Dolphin Company," manage over 30 attractions,
including dolphin habitats, marinas, water parks, and adventure
parks, located in eight countries across three continents. Their
primary operations are based in Mexico, the United States, and the
Caribbean, with locations in Jamaica, the Cayman Islands, the
Dominican Republic, and St. Kitts. These attractions are home to
approximately 2,400 animals from more than 80 species of marine
life, including a variety of marine mammals such as dolphins, sea
lions, manatees, and seals, as well as birds and reptiles. As of
2023, the marine mammal population at the Debtors' parks includes
roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals.

Leisure Investments Holdings LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on
March 31, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $100 million and $500 million each.

Honorable Bankruptcy Judge Laurie Selber Silverstein handles the
case.

The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq.,
Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels.
The Debtors'
restructuring advisor is RIVERON MANAGEMENT SERVICES, LLC. The
Debtors'
Claims & Noticing Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a
VERITA GLOBAL.


LUCAS CONSTRUCTION: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors in the Chapter 11 case
of Lucas Construction Group, Inc.

The committee members are:

     1. Heavy and General  
        Laborers Fund
        700 Raymond Blvd.
        Newark, NJ 07105
        Attn: Glenn Kenyon  
        973-589-5050
        gkenyon@hglfunds.com

     2. Stavola Asphalt Co., Inc.
        175 Drift Road
        Tinton Falls, NJ 07724
        Attn: Lynne Bradley
        732-542-2328 ext. 45606
        lynne.bradley@arcosa.com

     3. Kmetz Inc.
        499 Marlboro Rd., Suite 3  
        Old Bridge, NJ 08857
        Attn: Marilyn Kmetz
        732-821-0533
        info@kmetzinc.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                About Lucas Construction Group Inc.

Lucas Construction Group, Inc. is a construction company based in
Morganville, N.J., 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 filed Chapter 11 petition (Bankr. D. N.J.
Case No. 25-12404) on March 7, 2025, listing $5,181,262 in assets
and $16,950,049 in liabilities. Anthony Lucas, president of Lucas
Construction Group, signed the petition.

Judge Christine M. Gravelle oversees the case.

Andrew J. Kelly, Esq., at The Kelly Firm, P.C., represents the
Debtor as legal counsel.


MAVERICK ACQUISITION: Carlyle Marks $42.7M 1L Loan at 27% Off
-------------------------------------------------------------
Carlyle Credit Solutions, Inc. has marked its $42,751,000 loan
extended to Maverick Acquisition, Inc. to market at $31,105,000 or
73% of the outstanding amount, according to Carlyle's Form 10-K for
the fiscal year ended December 31, 2024, filed with the U.S.
Securities and Exchange Commission.

Carlyle is a participant in a First Lien debt to Maverick
Acquisition, Inc. The debt accrues interest at a rate of 10.58% per
annum. The debt matures on June 1, 2027.

Carlyle indicates that Variable rate loans to the portfolio
companies bear interest at a rate that is determined by reference
to either the Secured Overnight Financing Rate ("SOFR"), or an
alternate base rate (commonly based on the Federal Funds Rate or
the U.S. Prime Rate), which generally resets quarterly. For each
such loan, the Company has indicated the reference rate used and
provided the spread and the interest rate in effect as of December
31, 2023. As of December 31, 2023, the reference rates for variable
rate loans were the 30-day SOFR at 5.35%, the 90-day SOFR at 5.33%,
the 180-day SOFR at 5.16%, the daily SONIA at 5.19%, the 30-day
EURIBOR at 3.85%, the 90-day EURIBOR at 3.91% and the 30-day CDOR
at 5.45%.

Carlyle notes that the loan includes interest rate floor feature,
which ranges from 0.50% to 3.00% and loans include a credit spread
adjustment that typically ranges from 0.10% to 0.43%.

Carlyle Credit Solutions, Inc., a Maryland corporation, is a
specialty finance company that is a closed-end, externally managed,
non-diversified management investment company. Carlyle was elected
to be regulated as a business development company under the
Investment Company Act of 1940.

Carlyle's core investment strategy focuses on lending to U.S.
middle market companies, which it define as companies with
approximately $25 million to $100 million of earnings before
interest, taxes, depreciation and amortization (“EBITDA”),
supported by financial sponsors. It seeks to achieve investment
objective primarily through direct origination of secured debt
instruments, including first lien senior secured loans and second
lien senior secured loans, with a minority of its assets invested
in higher yielding investments. The Middle Market Senior Loans are
generally made to private U.S. middle market companies that are, in
many cases, controlled by private equity firms.

Carlyle invests primarily in loans to middle market companies whose
debt has been rated below investment grade, or would likely be
rated below investment grade if such debt was rated. These
securities, which are often referred to as "junk," have
predominantly speculative characteristics with respect to the
issuer's capacity to pay interest and repay principal.

Carlyle is led by Justin V. Plouffe, president and chief executive
officer; Thomas M. Hennigan, chief financial officer; and Nigel
D.T. Andrews as director.

The company can be reached through:

Carlyle Credit Solutions, Inc.
One Vanderbilt Avenue, Suite 3400
New York, NY 10017
Telephone: (212) 813-4900

              About Maverick Acquisition, Inc.

Maverick Acquisition, Inc is a manufacturer of precision machined
components for defense and high-tech industrial platforms.


MCCLAIN FAMILY: Arturo Cisneros Named Subchapter V Trustee
----------------------------------------------------------
The U.S. Trustee for Region 16 appointed Arturo Cisneros as
Subchapter V trustee for McClain Family Cellars Inc.

Mr. Cisneros will be paid an hourly fee of $600 for his services as
Subchapter V trustee while the trustee administrator will be
compensated at $200 per hour. In addition, the Subchapter V trustee
will receive reimbursement for work-related expenses incurred.

Mr. Cisneros declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Arturo Cisneros
     3403 Tenth Street, Suite 714
     Riverside, CA 92501
     Phone: (951) 682-9705/(951) 682-9707
     Email: Arturo@mclaw.org

                 About McClain Family Cellars Inc.

McClain Family Cellars Inc. is a Black-owned winery based in the
Santa Ynez Valley, Calif. The winery is known for producing luxury,
award-winning wines and emphasizes four core pillars: Family,
Friends, Faith, and Freedom, offering a range of wines from both
red and white varieties. It provides experiences like private
events, in-home tastings, and barrel blending. Additionally,
McClain operates multiple locations, including in Laguna Beach,
Irvine, Solvang, and Buellton, and offers a wine club with various
membership options. It is a proud member of the African-American
Vintners Association.

McClain sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. C.D. Calif. Case No. 25-10589) on March 1, 2025. In its
petition, the Debtor reported between $100,000 and $500,000 in
assets and between $1 million and $10 million in liabilities.

Judge Theodor Albert handles the case.

The Debtor is represented by:

     Marc C. Forsythe, Esq.
     Goe Forsythe & Hodges, LLP
     17701 Cowan
     Lobby D. Suite 210
     Irvine, CA 92614
     Tel: (949) 798-2460
     Email: mforsythe@goeforlaw.com


MEIR BERNSTEIN: Seeks Chapter 11 Bankruptcy in New York
-------------------------------------------------------
On April 3, 2025, Meir Bernstein LLC filed Chapter 11 protection
in the U.S. Bankruptcy Court for the Eastern District of New York.
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 Meir Bernstein LLC

Meir Bernstein LLC is involved in activities related to real
estate.

Meir Bernstein LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41641) on April 3,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Nancy Hershey Lord handles the case.

The Debtor is represented by Solomon Rosengarten, Esq.


MENORAH CAMPUS: U.S. Trustee Appoints Michele McKay as PCO
----------------------------------------------------------
William Harrington, the U.S. Trustee for Region 2, appointed
Michele McKay as patient care ombudsman for Menorah Campus
Independent Senior Apartments, Inc.

The appointment was made pursuant to the order from the U.S.
Bankruptcy Court for the Western District of New York on March 12.

Section 333 of the Bankruptcy Code provides that the patient care
ombudsman shall:

     * Monitor the quality of patient care provided to patients of
the debtor, to the extent necessary under the circumstances,
including interviewing patients and physicians;

     * Not later than 60 days after the date of the appointment,
and not less frequently than at 60-day intervals thereafter, report
to the court after notice to the parties in interest, at a hearing
or in writing, regarding the quality of patient care provided to
patients of the debtor;

     * If she determines that the quality of patient care provided
to patients of the debtor is declining significantly or is
otherwise being materially compromised, file with the court a
motion or a written report, with notice to the parties in interest
immediately upon making such determination; and,

     * Shall maintain any information she obtains by virtue of her
appointment as Patient Care Ombudsman in this case that relates to
patients (including information relating to patient records) as
confidential information.

Ms. McKay declared in a court filing that she neither holds nor
represents any interest adverse to Menorah's estate, creditors and
equity security holders.

The ombudsman may be reached at:

     Michele McKay, MNS, RN, CNE
     6360 Kraus Road
     Clarence Center, New York 14032
     Telephone: (716) 907-6045
     Email: momsacct2011@gmail.com

        About Menorah Campus Independent Senior Apartments

Menorah Campus Independent Senior Apartments, Inc. sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
W.D.N.Y. Case No. 25-10135) on February 7, 2025, listing up to
$50,000 in assets and between $100,001 and $500,000 in
liabilities.

Judge Carl L. Bucki presides over the case.

Kevin R. Lelonek, Esq., at Gross Shuman, PC represents the Debtor
as legal counsel.


MOGA TRANSPORT: Unsecureds Will Get 100% of Claims over 60 Months
-----------------------------------------------------------------
Moga Transport, Inc., filed with the U.S. Bankruptcy Court for the
Northern District of California a Combined Plan of Reorganization
and Disclosure Statement dated March 12, 2025.

The Debtor is a fairly large trucking company organized in 2013 by
two childhood friends. The business transports dairy products
throughout California.

On September 9, 2024, the Debtor filed the instant case to stop
several lawsuits that are pending against it. The lawsuits have
made it very difficult for the business to continue operations.
Although the Debtor's business faces much competition, it has
stayed afloat. It can continue to do so if it can focus on business
and propose a payment plan to all bona fide creditors.

Class 2(a) consists of Small Claims General Unsecured Creditors.
The allowed unsecured claims total $278,921.05. Creditors will
receive 100% of their allowed claim in 60 equal monthly
installments, due on the 10th day of the month, starting on the
Plan's Effective Date. This class is impaired and is entitled to
vote on confirmation of the Plan.

Class 2(b) consists of Special Category Claims. The amount of claim
in this Class total $515,000.00. The Debtor will pay the special
category claims as offered with no interest from the Effective Date
of the Plan through 60 equal monthly payments. Payments will be due
on the 10th day of the month, starting on the Effective Date. This
class is impaired and is entitled to vote on confirmation of the
Plan.

On the Effective Date, all property of the estate and interests of
the Debtor will vest in the reorganized Debtor pursuant to Section
1141(b) of the Bankruptcy Code free and clear of all claims and
interests except as provided in this Plan.

Except as provided in Part 6(d) and (e), the obligations to
creditors that Debtor undertakes in the confirmed Plan replace
those obligations to creditors that existed prior to the Effective
Date of the Plan. Debtor's obligations under the confirmed Plan
constitute binding contractual promises that, if not satisfied
through performance of the Plan, create a basis for an action for
breach of contract under California law. To the extent a creditor
retains a lien under the Plan, that creditor retains all rights
provided by such lien under applicable non-Bankruptcy law.

A full-text copy of the Combined Plan and Disclosure Statement
dated March 12, 2025 is available at https://urlcurt.com/u?l=RgRmkF
from PacerMonitor.com at no charge.

                          About Moga Transport

Moga Transport Inc. is part of the general freight trucking
industry.

Moga Transport Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy (Bankr. N.D. Cal. Case No. 24-10478) on Sept. 9, 2024.
In the petition filed by Prabhjeet Gil, as VP HR and legal, the
Debtor estimated assets between $500,000 and $1 million and $1
million and $10 million.

Bankruptcy Judge William J .Lafferty handles the case.

The Debtor is represented by:

     Arasto Farsad, Esq.
     FARSAD LAW OFFICE, P.C.
     1625 The Alameda, Suite 525
     San Jose, CA 95126
     Tel: (408) 641-9966
     E-mail: Farsadlaw1@gmail.com


NAVACORD INTERMEDIATE: Fitch Affirms B LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has affirmed Navacord Intermediate Holdings, Inc.'s
Long-Term Issuer Default Rating (IDR) at 'B', and Navacord's wholly
owned borrower subsidiary, Jones DesLauriers Insurance Management
Inc.'s IDR at 'B'. The Rating Outlook is Stable. Additionally,
Fitch has affirmed the company's senior revolving credit facility
at 'B+' with a Recovery Rating of 'RR3', first lien term loan at
'B+'/'RR3', senior secured notes at 'B+'/'RR3', and senior
unsecured notes at 'CCC+'/'RR6'.

While leverage is high at more than 8.0x pro forma, Navacord's 'B'
rating reflects the company's resilient organic growth profile and
strong operating margin profile. The rating also reflects
Navacord's position as one of the top commercial brokerage firms in
Canada. Limitations to the rating include an aggressive financial
policy and the anticipated maintenance of an elevated leverage
profile.

Key Rating Drivers

Solid Market Position: Fitch views Navacord's strong position in
the Canadian insurance distribution market as a credit positive, as
one of the largest commercial brokerage and benefits firms in
Canada. The insurance brokerage industry is highly fragmented and
competitive, but Navacord has consistently achieved solid organic
revenue growth, maintaining at least mid-single-digit growth since
2017, with double-digit organic growth from 2019 to 2023 and
high-single-digit growth in 2024. This compares favorably against
other Fitch-rated brokers in North America.

Fitch expects the industry to grow in the mid- to high-single-digit
range, but certain higher-growth brokers like Navacord may exceed
this growth rate. The company has also sustained solid EBITDA
margins in the high-20% to mid-30% range over the past five years.

High Leverage: Fitch views high leverage as a limiting factor for
the IDR and expects it will likely constrain the rating to the 'B'
rating category in the near term. Fitch calculated pro forma EBITDA
leverage (debt/EBITDA) is in the mid-8.0x range as of 1Q25, while
net leverage is in the mid-6.0x range.

Fitch expects Navacord to continue maintaining an elevated leverage
profile due to its aggressive M&A strategy. Well-managed insurance
brokerage firms can tolerate a higher degree of financial leverage
compared to other corporate sectors, given the industry's high
stability throughout the economic cycle. Large brokers have only
experienced organic sales declines in the low-single-digit range
following the 2008 global financial crisis. However, Navacord's
leverage is higher compared to other Fitch-rated peers.

M&A Growth Strategy: Fitch considers Navacord's aggressive M&A
growth strategy a key rating factor constraining its IDR to the 'B'
category. The company, which has spent over $2.1 billion on 117+
deals, is expected to continue prioritizing acquisitions. Navacord
stands out as a major issuer solely focused on Canada in the North
American insurance brokerage industry. Historically, acquisitions
have been largely debt-funded, posing financial risk in a
high-interest-rate environment. However, integration risk is
manageable due the business model, as deals primarily aim to
acquire customers and brokers.

Diversification: Navacord benefits from broad client, broker, and
carrier diversification, despite operating solely in Canada. It
serves over 75,000 commercial clients, with the top 20 customers
comprising only 4% of revenue. Its top 10 producers account for
less than 10% of revenue. The company is diversified by insurance
carrier partners and business lines, including commercial and
personal P&C and benefits. Navacord's strong market position
currently prevents geographic concentration from limiting its IDR.
Fitch believes the company could expand beyond Canada over time;
however, this would involve execution risks associated with
geographical diversification.

Stable Business Model: Fitch believes the company operates a
predictable business model in an industry that performs well
throughout the economic cycle. Founded in 2014, Navacord has a more
limited operating history compared to other Fitch-rated brokers.
However, Fitch expects the industry to exhibit much lower revenue
and earnings declines in a recession than other sectors, given the
highly sticky nature of insurance. Many large global insurance
brokers have grown organically each year since 2007, except for a
modest decline in 2009, and also grew during the pandemic. However,
Navacord faces unique risks due to its geographic exposure solely
to the Canadian market.

Cash Flow Ratios Constrained: Fitch expects constrained FCF due to
debt-financed M&A, causing high financial leverage and low
near-term interest coverage near Fitch's negative sensitivity
threshold for the 'B' IDR. The recent re-pricing of the first lien
term loan is viewed positively, and interest coverage is expected
to improve marginally. Constrained FCF stems from the M&A roll-up
strategy, but the underlying cash generation is healthy. Fitch
believes that slowing M&A would materially improve cash flow unless
all excess cash is diverted to shareholder capital returns.

Peer Analysis

Navacord competes in a fragmented landscape of insurance brokerage
and benefits services providers that includes other local/regional
companies, national agents and large multi-national brokers. Fitch
rates numerous companies in the insurance brokerage industry that
are comparable in terms of scale, operating profile and business
model.

Navacord maintains a strong position among commercial brokers in
Canada and has established reasonable size with revenue of more
than CAD750 million and annual premium near CAD3.0 billion.
However, it remains relatively small and has meaningfully higher
financial leverage versus larger global brokers such as Willis
Towers Watson PLC (BBB/Positive), Aon plc (BBB+/Stable), among
others.

Fitch also rates Truist Insurance Holdings, LLC (B/Stable) which is
larger in size but similar to Navacord is highly levered. The 'B'
rating is reflective of the company's strong historic growth
profile, solid profitability, and diversification among its
customers and business segments. This is offset by an aggressive,
debt-financed M&A strategy, that has led to high gross leverage.

Key Assumptions

- Organic revenue growth in the mid-single digit percentage range
over the ratings horizon plus contributions from incremental M&A
through FY28;

- EBITDA margins estimated in the low-30% range, with some
forecasted pressures from cost/wage inflation and additional growth
investments;

- Interest rates assumptions are as follows: SOFR to decline to the
high-3% range over the ratings horizon;

- Cash taxes remain a modest use of cash flow in the next few
years;

- Fitch assumes Navacord will continue its growth-driven M&A
strategy and will incur cash outflows related to purchase and
integration costs. Fitch assumes this remains the primary use of
cash flow and incremental M&A is funded via internal cash flow and
incremental debt.

Recovery Analysis

For entities rated 'B+' and below - where default is closer and
recovery prospects are more meaningful to investors - Fitch
undertakes a tailored, or bespoke, analysis of recovery upon
default for each issuance. The resulting debt instrument rating
includes a Recovery Rating or published 'RR' (graded from 'RR1' to
'RR6'), and is notched from the Issuer Default Rating accordingly.
In this analysis, there are three steps: (i) estimating the
distressed enterprise value (EV); (ii) estimating creditor claims;
and (iii) distribution of value.

Fitch assumes Navacord would emerge from a default scenario under
the going concern approach versus liquidation. Key assumptions used
in the recovery analysis are as follows:

(i) Going concern EBITDA - Fitch estimates a going concern EBITDA
of approximately CAD 205 million, or 23% below the company's
current Fitch-adjusted run-rate EBITDA. This lower level of EBITDA
considers competitive and/or company-specific pressures that hurt
earnings in the future while also considering that its M&A strategy
could lead to a much higher EBITDA base before any risk of
bankruptcy.

(ii) EV Multiple - Fitch assumes a 6.5x multiple, which is
validated by historic public company trading multiples, industry
M&A and past reorganization multiples Fitch has seen across various
industries.

RATING SENSITIVITIES

Factors That Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Deterioration in operating fundamentals that lead to weaker
revenue trends, margin underperformance, and compression of cash
flows;

- EBITDA Interest Coverage, or EBITDA/Interest paid, sustained
below 1.5x;

- (CFO-capex)/Debt sustained near 1% or below, excluding M&A
related costs;

- EBITDA leverage sustained above 8.0x, particularly if driven by
shareholder distributions.

Factors That Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- EBITDA Leverage, or Debt/EBITDA, sustained below 6.5x;

- (CFO-capex)/Debt sustained in low double digits.

Liquidity and Debt Structure

Navacord has a fairly well-positioned balance sheet with cash
balances of CAD $297 million at Jan. 2025. Additionally, it has
full access to its CAD180 million senior secured revolving credit
facility. Cash needs are fairly minimal given the nature of its
business that has low capital intensity and working capital needs,
along with fairly manageable debt amortization and cash taxes. This
should provide sufficient liquidity to both operate its current
business as well as invest for organic growth and M&A.

The company's debt capital consists of a CAD180 million senior
secured revolver, USD 372 million of senior secured first lien term
loans, USD 725 million of senior secured notes and USD500 million
of senior unsecured notes. Its revolver and term loans are floating
rate while the senior notes will have a fixed coupon. There are no
near-term maturities with the first lien debt maturing in 2028,
while the senior notes will mature in 2030. Fitch expects its debt
will grow in the future as the company continues its M&A driven
growth strategy.

Issuer Profile

Navacord Corp. was founded in 2014 and competes in the Canadian
commercial insurance brokerage space. It was incorporated under
Navacord Corp. in 2018 and is one of the top commercial insurance
broker and benefits provider in Canada.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt              Rating         Recovery   Prior
   -----------              ------         --------   -----
Jones Deslauriers
Insurance
Management Inc.       LT IDR B    Affirmed            B

   senior unsecured   LT     CCC+ Affirmed   RR6      CCC+

   senior secured     LT     B+   Affirmed   RR3      B+

Navacord
Intermediate
Holdings Inc.         LT IDR B    Affirmed            B


NIKOLA CORP: Investors' Suit Moves Forward After Failed Settlement
------------------------------------------------------------------
Gillian R. Brassil of Bloomberg Law reports that investors in
Nikola Corp. will proceed with their lawsuit against three former
executives after notifying a federal court that their settlement
agreement has fallen apart.

On April 7, 2025, U.S. District Judge Steven P. Logan of the
District of Arizona overturned a prior order that would have
dismissed the executives with prejudice, pending the filing of a
class action settlement. Class representatives George Mersho and
Vincent Chau requested to continue their securities fraud case on
April 4, after Nikola's legal team informed them that the company
would not seek bankruptcy court approval to finalize the
settlement. The case involves allegations concerning Nikola's truck
technology, the report states.

                   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.


PARADIGM PARENT: Moody's Rates New $1BB Sec. First Lien Notes 'B2'
------------------------------------------------------------------
Moody's Ratings assigned a B2 rating to Paradigm Parent, LLC
("d/b/a Patterson Companies or Patterson") proposed $1 billion
backed senior secured first lien notes. There are no changes to
Patterson's existing ratings including the B2 Corporate Family
Rating, B2-PD Probability of Default Rating, and B2 rating on its
senior secured term loan. The outlook remains unchanged at stable.

Proceeds from the new senior secured notes, the recently announced
$900 million ABL (unrated) and $1.35 billion senior secured term
loan B, along with common equity contribution from private equity
firm Patient Square Capital will fund the leveraged buyout of
Patterson Companies. Proceeds will also be used to refinance
existing debt, add cash to the balance sheet and pay fees and
expenses.

RATINGS RATIONALE

Patterson's B2 CFR considers the company's solid position as a
leading distributor of products to the dental and animal health
markets. The company sells a wide variety of consumables, equipment
and practice management software to dental practices as the second
largest distributor in the North American market. The company is
also one the leading distributors to the production animal health
market and the companion animal market, servicing a large customer
footprint of producers, production veterinarians and companion
animal veterinarians. The company sells both its own proprietary
brands and third-party products. Moody's expects continued growth
overall for Patterson Companies. The  dental market longer term
will grow due to aging demographics, the production animal market
is driven by increasing consumption of protein and the companion
animal market is driven by increased adoption and spending on
pets.

The rating is constrained by the company's moderate scale and high
leverage of 6.3x on a Moody's adjusted basis as of April 27, 2025,
pro forma for the LBO. Moody's expects leverage to decline to the 5
times range over the next 12 to 18 months.

Moody's expects Patterson's liquidity will remain very good over
the next 12 to 18 months. Patterson's liquidity is supported by
Moody's forecasts that the company will continue to generate
positive free cash flow in FY 2026 and FY 2027 (Patterson's fiscal
year-end is in April). The company's cash flow generation benefits
from its steady profit margins and limited capital expenditures.
The company's liquidity profile is further supported by a new $900
million asset-backed revolving credit facility that will have $300
million drawn as of the close of the transaction. The LBO will
eliminate Patterson's off-balance sheet financing vehicles. Moody's
expects the company to have $134 million of cash on its balance
sheet at the close of the LBO.  Alternative sources of liquidity
are limited as substantially all assets are pledged.

The stable outlook reflects Moody's expectations that Patterson's
solid operating performance will continue over the next 12-18
months, driven by continued demand for its products across dental
and animal health segments. Moody's expects the company will
maintain very good liquidity and earnings growth will drive some
deleveraging over the forecast period.

The B2 rating on the new secured notes reflects the preponderance
of senior secured debt in the capital structure. The secured notes
and term loan will rank below the $900 million ABL revolving
facility, which has a first lien on the more liquid assets,
including accounts receivable and inventory. The secured notes and
term loan have a second lien on the revolver collateral and a first
lien on the remainder of the company's assets.

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

The ratings could be downgraded if operating results are weaker
than Moody's expectations, or if liquidity weakens. Additionally,
if the company adopts a more aggressive financially policy
including pursuing acquisitions or dividends that result in
substantial increase in leverage, this could also result in a
downgrade. Quantitatively, debt / EBITDA sustained above 6.5x could
result in a downgrade.

The ratings could be upgraded if there is a substantial increase in
the company's absolute scale. Additionally, an upgrade would
require Patterson to maintain very good liquidity, as evidenced by
consistent positive free cash flow. Quantitatively, if debt/EBITDA
is sustained below 5.5x, the ratings could be upgraded.

The principal methodology used in this rating was Distribution and
Supply Chain Services published in December 2024.

Patterson Companies, Inc. engages in the distribution of dental and
animal health products in the United States and UK. The company
reported $6.5 billion in revenues for the last twelve months ended
January 25, 2025. The company is publicly traded.


PB RESTAURANTS: Seeks Subchapter V Bankruptcy in Florida
--------------------------------------------------------
On April 4, 2025, PB Restaurants 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 $1 million
and $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About PB Restaurants LLC

PB Restaurants LLC is a hospitality company specializing in
operating restaurant concepts, providing dining experiences at
various locations.

PB Restaurants LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01957)
on April 4, 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 Lori V. Vaughan handles the case.

The Debtor is represented by R.Scott Shuker, Esq. at SHUKER &
DORRIS, P.A.


PIVOTAL ANAYLTICS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Pivotal Analytics Inc.
        3823 Isla Del Sol Way
        Naples FL 34114

Business Description: Pivotal Analytics Inc. is a data analytics
                      and insights company seeking to redefine how
                      healthcare systems and their partners
                      identify growth opportunities and optimize
                      real estate investment decisions in a value-
                      based care market.  The Company offers a
                      range of services, including market
                      evaluation, competitive analysis, and
                      assessments of consumer demand, provider
                      supply, and productivity.  These insights
                      help optimize healthcare assets and
                      services.

Chapter 11 Petition Date: April 7, 2025

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 25-00608

Judge: Hon. Caryl E Delano

Debtor's Counsel: Michael Dal Lago, Esq.
                  DAL LAGO LAW
                  999 Vanderbilt Beach Rd. Suite 200
                  Naples FL 34108
                  Tel: 239-571-6877
                  E-mail: mike@dallagolaw.com

Total Assets: $760,589

Total Liabilities: $5,105,176

The petition was signed by Carl J. Davis as CEO.

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/ZICR27A/Pivotal_Analytics_Inc__flmbke-25-00608__0001.0.pdf?mcid=tGE4TAMA


PLANO SMILE: Gets Final OK to Use Cash Collateral Until June 9
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas granted
Plano Smile Studio, P.A.'s motion to use cash collateral on a final
basis.

The final order authorized Plano Smile Studio to use cash
collateral from March 31 to June 9 to pay the expenses set forth in
its budget.

Secured lenders, including T Bank, First Citizens Bank, BHG
Financial, and the U.S. Small Business Administration, will receive
replacement liens on post-petition cash and accounts receivable in
case of any diminution in the value of their collateral.

Plano Smile Studio's authority to use cash collateral will
terminate if its Chapter 11 case is converted to a Chapter 7 case;
if it is removed as debtor-in-possession; or if it uses cash
collateral for unauthorized purposes.

There is a carve-out for fees payable under 28 U.S.C. section 1930,
professional fees and expenses, and fees and expenses for the
Subchapter V Trustee, which is not subject to any protections
granted to the secured lenders.

A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/8wIMb from PacerMonitor.com.

                      About Plano Smile Studio

Plano Smile Studio, P.A. is a dental practice located in Plano,
Texas, specializing in both general and cosmetic dentistry. Led by
Dr. John M. Hucklebridge, the studio offers a wide range of
services including dental implants, smile makeovers, Invisalign,
teeth whitening, veneers, and sedation dentistry.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-40633) on March 6,
2025. In the petition signed by John M. Hucklebridge, member, the
Debtor disclosed up to $500,000 in assets and up to $10 million in
liabilities.

Judge Brenda T Rhoades oversees the case.

The Debtor is Represented By:

   Brandon John Tittle, Esq.
   Tittle Law Group, PLLC
   Tel: 972-213-2316
   Email: btittle@tittlelawgroup.com


PRESBYTERIAN HOMES: No Resident Complaints, 1st PCO Report Says
---------------------------------------------------------------
Sherry Culp, the duly appointed patient care ombudsman, filed with
the U.S. Bankruptcy Court for the Western District of Kentucky her
first report regarding the quality of patient care provided by
Presbyterian Homes and Services of Kentucky, Inc. and St. James
Group Inc.

On February 14, District Long-Term Care Ombudsman, Darcus Hall,
visited Cedar Creek Assisted Living Center for the reporting period
from January 13 to March 14. Hall interacted with 29 residents and
two family members during the visit. The residents interviewed had
no complaints about supplies or food. There were no resident or
family complaints about staffing.

On February 18, District Long-Term Care Ombudsman, Erika
Rhodes-Chism, visited Rose Anna Hughes Assisted Living Center.
Rhodes-Chism interacted with 11 residents during the visit. Tori
Covington, Senior Director of Operations, reported no concerns with
staffing.

The ombudsman reported that there were no resident complaints about
staffing at Rose Anna Hughes, however, a resident expressed concern
about medication orders. The ombudsman accompanied the resident to
speak with the nurse about her concern. The nurse described the
process and reported that she contacted the resident's nurse
practitioner to ensure that the order was sent to the resident's
pharmacy of choice. The ombudsman will follow up the nurse
practitioner about the prescription.

The ombudsmen had no concerns about the cooperation of the facility
staff at the time of this report.

The Long-Term Care Ombudsman Program has not observed any
significant changes in the facility services or resident
satisfaction.

A copy of the ombudsman report is available for free at
https://urlcurt.com/u?l=iTiszo from PacerMonitor.com.

The ombudsman may be reached at:

     Sherry Culp
     Kentucky State Long Term Care Ombudsman
     Nursing Home Ombudsman Agency of the Bluegrass, Inc.
     3138 Custer Drive, Suite 110
     Lexington, Kentucky 40517
     Email: sherry@ombuddy.org

         About Presbyterian Homes and Services of Kentucky

Presbyterian Homes and Services of Kentucky, Inc. sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case
No. 24-33060) on December 15, 2024, listing up to $10 million in
both assets and liabilities. Hattie H. Wagner, president and chief
executive officer of Presbyterian, signed the petition.

Judge Alan C. Stout oversees the case.

Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP,
represents the Debtor as legal counsel.

Stock Yards Bank & Trust Company, as secured creditor, is
represented by:

     Edward M. King, Esq.
     Jamie Brodsky, Esq.
     Frost Brown Todd, LLP
     400 W. Market Street, 32nd Floor
     Louisville, Kentucky 40202
     Telephone: (502) 589-5400

Hardin KY Opco and Hardin KY Propco, as secured creditors, are
represented by:

     Mary Elisabeth Naumann, Esq.
     Chacey R. Malhouitre, Esq.
     Jackson Kelly, PLLC
     100 W. Main Street, Ste. 700
     Lexington, KY 40507
     Telephone: (859) 255-9500
     Facsimile: (859) 252-0688
     Email: mnaumann@jacksonkelly.com
            chacey.malhouitre@jacksonkelly.com


PRO-FIT BASKETBALL: Section 341(a) Meeting of Creditors on May 8
----------------------------------------------------------------
On April 3, 2025, Pro-Fit Basketball Training 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.

A meeting of creditors under Section 341(a) to be held on May 8,
2025 at 10:00 AM via Conference Call - Chapter 11 Greenbelt: Phone
number 1-866-917-2025, Passcode 2926743#.

           About Pro-Fit Basketball Training LLC

Pro-Fit Basketball Training LLC 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.

Pro-Fit Basketball Training LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-12912)
on April 2, 2025. In its petition, the Debtor reports estimated
assets up to $50,000 and estimated liabilities between $1 million
and $10 million.

The Debtor is represented by David Cahn, Esq. at LAW OFFICE OF
DAVID CAHN, LLC.


QUICKSILVER PROPERTIES: Beverly Brister Named Subchapter V Trustee
------------------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed Beverly Brister,
Esq., a practicing attorney in Benton, Ark., as Subchapter V
trustee for Quicksilver Properties, LLC.

Ms. Brister will be paid an hourly fee of $360 for her services as
Subchapter V trustee. Should travel be required outside of Saline
or Pulaski Counties, the Subchapter V trustee will seek a
compensation rate of $100 per hour for actual travel time
incurred.

Ms. Brister declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee
can be reached at:

     Beverly I. Brister, Esq.
     Attorney at Law
     212 W. Sevier
     Benton, AR 72015
     Phone: 501-778-2100
     Email: bibristerlaw@gmail.com

                   About Quicksilver Properties

Quicksilver Properties, LLC filed Chapter 11 petition (Bankr. E.D.
Ark. Case No. 25-10820) on March 12, 2025, listing up to $1 million
in both assets and liabilities.

Judge Bianca M. Rucker oversees the case.

The Debtor tapped Bond Law Office as bankruptcy counsel.


REMEMBER ME: U.S. Trustee Appoints Stacy Lynn Archer as PCO
-----------------------------------------------------------
Paul Randolph, the Acting U.S. Trustee for Region 8, appointed
Stacy Lynn Archer of Robinson, Smith & Wells, PLLC as patient care
ombudsman for Remember Me Senior Care, LLC and affiliates.

The appointment was made pursuant to the order from the U.S.
Bankruptcy Court for the Eastern District of Tennessee on March 3.

Section 333(b) of the Bankruptcy Code provides that the patient
care ombudsman shall:

     * Monitor the quality of patient care provided to patients of
the debtor, to the extent necessary under the circumstances,
including interviewing patients and physicians;

     * Not later than 60 days after the date of appointment, and
not less frequently than at 60-day intervals thereafter, report to
the court after notice to the parties in interest, at a hearing or
in writing, regarding the quality of patient care provided to
patients of the debtor;

     * If such ombudsman determines that the quality of patient
care provided to patients of the debtor is declining significantly
or is otherwise being materially compromised, file with the court a
motion or a written report, with notice to the parties in interest
immediately upon making such determination.

Ms. Archer declared in a verified statement that she is
"disinterested" pursuant to Section 101(14) of the Bankruptcy
Code.

The ombudsman may be reached at:

     Stacy Lynn Archer
     Robinson, Smith & Wells, PLLC
     633 Chestnut Street, Suite 700
     Chattanooga, TN 37450
     Office: (423) 756-5051
     Fax: (423) 266-0474

                   About Remember Me Senior Care

Remember Me Senior Care, LLC, a company in Cleveland, Tenn., offers
personalized assisted living and memory care services in a homelike
environment. The facility provides a range of services, including
help with daily activities, medication management, and specialized
care for those with Alzheimer's or other dementias.

Remember Me Senior Care sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-10451) on February
18, 2025. In its petition, the Debtor reported up to $50,000 in
assets and between $10 million and $50 million in liabilities.

Judge Nicholas W. Whittenburg oversees the case.

The Debtor is represented by Jeffrey W. Maddux, Esq., at Chambliss,
Bahner & Stophel P.C.


RESHAPE LIFESCIENCES: Narrows Net Loss to $7.13 Million in 2024
---------------------------------------------------------------
Reshape Lifesciences Inc. wrapped up 2024 with a reduced net loss
of $7.13 million on $8.01 million in revenue, a notable improvement
over the $11.39 million loss on $8.68 million in revenue from the
previous year.

Since its inception, the Company has faced substantial net losses
and negative cash flows from operations, resulting in an
accumulated deficit of about $642.7 million.  Looking ahead, the
Company anticipates continuing to experience net losses and
negative cash flows from operations throughout 2025.

Reshape Lifesciences has financed operations to date principally
through the sale of equity securities and debt financings.  During
the years ended Dec. 31, 2024 and 2023, it received proceeds of
$0.7 million and $17.6 million, respectively, from convertible
notes payable, securities sales and exercises of warrants.

As of Dec. 31, 2024, the Company had $4.79 million in total assets,
$5.05 million in total liabilities, and a total stockholders'
deficit of $253,000.

In its report dated April 4, 2025, the Company's auditor Haskell &
White LLP, issued a "going concern" qualification citing that the
Company has suffered recurring losses from operations and negative
cash flows.  The Company currently does not generate revenue
sufficient to offset operating costs and anticipates such
shortfalls to continue.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.

As of Dec. 31, 2024, the Company had net a working capital deficit
of approximately $0.1 million.  The Company's principal source of
liquidity as of Dec. 31, 2024, consisted of approximately $0.7
million of cash and cash equivalents, and $1.0 million of accounts
receivable.  The Company raised $0.8 million in October 2024 in a
convertible debt agreement with an institutional investor.  In
February 2025, the Company entered into a Security Purchase
Agreement to issue and sell 2,575,107 shares of common stock and
warrants to purchase up to 2,575,107 shares of common stock at an
initial price of $5.83 per share, subject to adjustments.  The
securities were at a price of $2.33 per unit.  The Company received
$4.5 million for this offering after deducting underwriting
expenses, commissions and offering expenses.  The Company noted
that based on its available cash resources, it may not have
sufficient cash on hand to fund its current operations for more
than 12 months from the date of filing this Form 10-K.

The Company's anticipated operations include plans to (i) merge
with Vyome Therapeutics, Inc and sell certain assets to Biorad,
which will continue the operations, (ii) grow sales and operations
of the Company with the Lap-Band product line both domestically and
internationally as well as to obtain cost savings synergies, (iii)
introduce to the market Lap-Band 2.0 FLEX, (iv) continue
development of the Diabetes Bloc-Stim Neuromodulation ("DBSN")
device, and (v) prior to such merger and sale, explore and
capitalize on synergistic opportunities to expand its portfolio and
offer future minimally invasive treatments and therapies in the
obesity continuum of care. The Company believes that it has the
flexibility to manage the growth of its expenditures and operations
depending on the amount of available cash flows, which could
include reducing expenditures for marketing and product development
activities.

"The Company will be required to raise additional capital, however,
there can be no assurance as to whether additional financing will
be available on terms acceptable to the Company, if at all," the
Company stated.  "If sufficient funds on acceptable terms are not
available when needed, it would have a negative impact on the
Company's financial condition and could force the Company to delay,
limit, reduce, or terminate product development or future
commercialization efforts or grant rights to develop and market
product candidates or testing products that the Company would
otherwise plan to develop."

This information was disclosed in Resahe Lifesciences' Annual
Report on Form 10-K, filed with the Securities and Exchange
Commission.  A complete copy of the Report is available for free
at:

https://www.sec.gov/Archives/edgar/data/1427570/000155837025004477/rsls-20241231x10k.htm

                      About Reshape Lifesciences

Headquartered in Irvine, California, Reshape Lifesciences Inc. --
www.reshapelifesciences.com -- is a premier physician-led
weight-loss solutions company, offering an integrated portfolio of
proven products and services that manage and treat obesity and
associated metabolic disease.  The Company's primary operations are
in the following geographical areas: United States, Australia and
certain European and Middle Eastern countries.  Its current
portfolio includes the Lap-Band Adjustable Gastric Banding System,
the Obalon Balloon System, and the Diabetes Bloc-Stim
Neuromodulation device, a technology under development as a new
treatment for type 2 diabetes mellitus.  There has been no revenue
recorded for the Obalon Balloon System, or the Diabetes Bloc-Stim
Neuromodulation as these products are still in the development
stage.


ROCKET SOFTWARE: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has affirmed Rocket Software Inc.'s (Rocket)
Long-Term Issuer Default Rating (IDR) at 'B'. Fitch has also
affirmed Rocket's first-lien secured indebtedness at 'BB-' with a
Recovery Rating of 'RR2' and its unsecured notes at 'CCC+'/'RR6'.
The Rating Outlook remains Stable.

The ratings continue to be driven by Rocket's very sticky business
model, industry-leading EBITDA margins, stable recurring revenue,
and strong FCF generation. Fitch believes Rocket's private equity
ownership and growth strategy, including tuck-in acquisitions, may
limit deleveraging despite the strong projected FCF generation.

Fitch expects Rocket's credit metrics to be consistent with 'B'
rated enterprise software peers through the forecast period.

Key Rating Drivers

Resilient Operating Profile: Fitch forecasts Rocket to grow its
organic revenue in the low- to mid-single digits while maintaining
above-industry average EBITDA margins in the mid 50%-range,
supported by its resilient business model. The company's products
provide solutions for critical business needs, ensuring
interoperability between mainframe workloads and cloud-based
workflows. Fitch believes the alignment across Rocket's focused
strategy and operations enhances the resiliency and predictability
of its business segments, particularly because over 70% of total
revenue is derived from subscriptions and fixed-duration
maintenance contracts.

Secular Tailwind Supports Growth: Digital transformation and the
hybrid cloud continue to be growth catalysts within the technology
industry, as businesses continue to digitalize workflow to increase
efficiency. The future of IT is leaning toward a hybrid IT
management framework, with mainframes likely to play a crucial
role. Mainframe workload continues to grow in the mid- to
high-single digits each year.

Although Fitch anticipates a gradual reduction in the reliance on
mainframe systems as newer workloads migrate to cloud environments,
these systems continue to be a bedrock of critical infrastructure.
They are responsible for processing billions of daily transactions
across vital sectors, such as banking, retail, insurance,
healthcare, transportation and government. Essential mainframe
workloads are integral to legacy operations and will likely remain
on these systems well into the future.

Moderate Financial Leverage: Fitch expects Rocket's leverage to
gradually decline to 5.5x, driven by recurring revenue and very
strong profitability levels. Given the private equity ownership
that is likely to prioritize ROE, Fitch does not anticipate
accelerated debt repayment. Fitch expects capital to be used for
acquisitions to accelerate growth or for dividends to equity owners
with financial leverage remaining at moderate levels.

High Switching Costs Drive Retention: Rocket's hybrid cloud
solutions, including AMC's portfolio, are mission-critical,
encompassing the entire mainframe lifecycle for enterprise
customers. The company has gross retention in the mid-90% range and
net retention of over 102%. Its clients are primarily large,
conservative enterprises (government, banking, insurance and
healthcare) that hesitate to adopt new technology, particularly for
essential IT infrastructure and highly regulated data. High
switching costs, stemming from substantial expenses, regulations,
and complexities in transitioning from mainframe systems,
contribute to Rocket's high retention rates.

Strong FCF Generation: Fitch expects FCF margins in the mid-teens,
supported by strong EBITDA margins, a sticky business model, high
retention rates, and potentially lower interest rates. This results
in (CFO-Capex)/Debt approaching 5% through the forecast period. The
strong FCF generation provides Rocket with ample financial
flexibility for investments to further strengthen its capabilities
around hybrid cloud and data analytics/AI.

M&A Central to Growth Strategy: Fitch expects Rocket to remain
acquisitive in the infrastructure software market, given still
considerable industry fragmentation and in its effort to expand
technology platform. The company has made several acquisitions in
the past, including AMC, ASG Technologies, Zumasys, Uniface, KRI
Security and BOS Digitec. Fitch believes M&A remains a central
growth strategy to drive organic revenue and reduce dependency on
IBM-led revenues, which decreased to ~20% in 2024 from ~55% in
2019. Despite the acquisitive nature of the company, its EBITDA
leverage has historically ranged between 6.0x to 7.0x.

Significant Customer Diversification: Rocket has a diversified
customer base of over 12,500 customer accounts, with majority of
its exposure to banking, insurance and services industries. The
company is geographically well-diversified. No single customer
contributed more than 10% of revenues in 2024, and the top 10
customers contributed ~15% (excluding IBM). The diverse customer
base minimizes idiosyncratic risks associated with individual
industry verticals and helps reduce revenue volatility.

Peer Analysis

In the infrastructure software market, Rocket's primary competitors
are BMC Software and Broadcom Inc. (BBB/Positive). Broadcom is
significantly larger than Rocket, with EBITDA leverage around 2.5x
and a more diversified portfolio. Rocket shares a similar operating
and credit profile with BMC. Both companies have EBITDA margins
above the industry average, leading to strong FCF and moderate
leverage profiles. Rocket, BMC, and Broadcom all three have some
product overlaps, and Rocket focuses more on hybrid cloud-centric
solution, assisting customers in modernizing their legacy IT
software.

Fitch also compares Rocket to other software peers in the 'B' to
'B+' rating categories. Rocket's revenue scale is comparable to its
peers, with leverage and FCF generation aligning with those in the
same rating categories. Fitch anticipates that Rocket's pro forma
leverage will decrease to a range of 5.0x to 5.5x following
successful acquisition integration over the next year. Despite
this, Fitch believes that Rocket's private equity ownership is
likely to focus on optimizing ROE rather than accelerating
deleveraging and history of debt-funded acquisitions, results in
leverage remaining at moderate levels.

Key Assumptions

- Organic revenue growth in the low to mid-single digit;

- Fitch-adjusted EBITDA margins normalized in mid-50's range;

- Capital intensity 1.5% of revenue;

- Debt repayment limited to mandatory amortization;

- Floating interest rate forecasted to be 5.1% in 2024, 4.2% in
2025, and 4.0% in 2026 and 2027;

- Fitch assumes aggregate acquisitions of $1 billion through 2027,
partially funded by FCF and debt;

- No dividend payments through 2027.

Recovery Analysis

RECOVERY ANALYSIS

The recovery analysis assumes that Rocket would be recognized as a
going concern in bankruptcy rather than liquidated;

Fitch has assumed a 10% administrative claim.

Going Concern Approach

Fitch assumed a distress scenario where a combination of
operational underperformance and capital misallocation result in
unsustainable capital structure. This could be a result of elevated
customer churn, inability to maintain strong EBITDA margins, and
debt financed dividends or M&As.

In this scenario, Fitch expects Rocket's revenue base to decline,
resulting in an EBITDA margin contraction on a lower revenue scale.
Fitch assumes that due to competitive pressure, revenue to suffer a
10% reduction along with margin contraction resulting in GC EBITDA
of $600 million, approximately 30% lower than pro forma 2025
EBITDA.

Fitch assumes that Rocket will receive a going concern recovery
multiple of 7.0x. The estimate considers several factors, including
the highly sticky and resilient business model, recurring nature of
the revenue, high customer retention, company's strong FCF
generation and the competitive dynamics. The enterprise value (EV)
multiple is supported by:

- The median reorganization enterprise value/EBITDA multiple for
the 71 TMT bankruptcy cases that had sufficient information for an
exit multiple estimate to be calculated was 5.9x.

- Of these companies, five were in the software sector: Allen
Systems Group, Inc (8.4x); Avaya, Inc. (2023: 7.5x, 2017: 8.1x);
Aspect Software Parent, Inc. (5.5x), Sungard Availability Services
Capital, Inc. (4.6x), and Riverbed Technology Software (8.3x);

- The highly recurring nature of Rocket's revenue and mission
critical nature of the product support the high end of the range;

- Fitch arrived at an EV of $4.2 billion. After applying the 10%
administrative claim, adjusted EV of $3.78 billion is available for
claims by creditors.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Fitch's expectation of EBITDA leverage sustaining above 7.5x;

- (CFO-capex)/debt sustaining below 3.5%;

- Organic revenue growth sustaining near or below 0%.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Fitch's expectation of EBITDA leverage sustaining below 5.5x;

- (CFO-capex)/debt sustaining above 6.5%;

- Organic revenue growth sustaining above the mid-single digit.

Liquidity and Debt Structure

Fitch projects that Rocket's liquidity will be sufficient,
supported by its strong FCF generation, undrawn $375 million
revolver facilities, and readily available cash on balance sheet.
Fitch forecasts Rocket's normalized FCF margins in mid-teens,
supported by EBITDA margin expansion to mid-50% range.

Rocket's debt consists of $575 million unsecured notes (maturity
2029), $4,305 million first lien secured debt (maturity 2028), and
$375 million revolver credit facilities ($14.6 million maturity in
2026 and $360 million maturity in 2028). Given the recurring nature
of the business and ample liquidity, Fitch believes Rocket will be
able to make its required debt payments.

Issuer Profile

Rocket Software Inc. is a leading global infrastructure software
provider helping governments, financial institutions, insurance
agencies and other corporations manage and optimize hybrid
infrastructure environments and support mission-critical workloads.
Rocket specializes in infrastructure, data and application
modernization.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt                Rating         Recovery   Prior
   -----------                ------         --------   -----
Rocket Software, Inc.   LT IDR B    Affirmed            B

   senior unsecured     LT     CCC+ Affirmed   RR6      CCC+

   senior secured       LT     BB-  Affirmed   RR2      BB-


RONBON LLC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Ronbon LLC
          d/b/a The Ainsworth Hoboken
        310 Sinatra Drive
        Hoboken, NJ 07030

Business Description: Ronbon LLC, engaged in the restaurant
                      industry, operates The Ainsworth Hoboken, a
                      popular dining and bar venue located at 310
                      Sinatra Drive in Hoboken, NJ.

Chapter 11 Petition Date: April 8, 2025

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 25-41700

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Fred S. Kantrow, Esq.
                  THE KANTROW LAW GROUP, PLLC
                  732 Smithtown Bypass, Suite 101
                  Smithtown, NY 11787
                  Tel: 516-703-3672
                  Email: fkantrow@thekantrowlawgroup.com

Total Assets: $1,227,446

Total Liabilities: $7,122,070

As the managing member, Matthew Shendell was the one who 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/GQBVFVY/Ronbon_LLC__nyebke-25-41700__0001.0.pdf?mcid=tGE4TAMA


SAS GROUP: Unsecureds Will Get .095% of Claims in Liquidating Plan
------------------------------------------------------------------
SAS Group Inc. filed with the U.S. Bankruptcy Court for the
Southern District of New York a Disclosure Statement in connection
with its Second Amended Chapter 11 Liquidating Plan dated March 12,
2025.

The Debtor is a New York limited liability corporation that
provided marketing and development services for numerous global
products. The Debtor provided its clients with distribution
programs through retail channels, inclusion in mail order catalogs,
credit card syndication and promotion through print advertising.

During the pendency of its Chapter 11 case, on February 8, 2024,
the Debtor filed a motion to authorize the sale of certain of the
Debtor's inventory to RDL Crystal Investors LLC. The result of
these efforts was that the Debtor was able to get a purchase price
that was equal to the Debtor's cost, without any discount which the
Debtor would otherwise not have been able to sell at this cost.
Following a hearing, the order approving the sale was entered on
February 16, 2024. This transaction allowed the Debtor to cut costs
by moving out of its second warehouse location.

During the course of the Debtor's Chapter 11 Case, the Debtor
engaged in a sale process by which it sold substantially all of its
inventory and the proceeds from which will be used to pay all
administrative, secured, and priority claims. Administrative claims
will be paid in full. The Secured Claim of the U.S. Small Business
Administration will be paid the balance of the Debtor's Cash in the
amount of approximately $75,000.00. There are no priority tax or
non-tax claims.

The Debtor expects there will be funds available for general
unsecured creditors provided it receives its final Employee
Retention Tax Credit check. If not, the Debtor's principal, Scott
Sobo, will fund a payment to general unsecured creditors with
contribution of $5,000.00 to be paid on a Pro Rata basis.

Class 2 consists of the holders of Allowed General Unsecured
Claims. The Debtor shall pay to holders of Class 2 General
Unsecured Claims a distribution on a Pro Rata basis on their
Allowed Claim, on the Effective Date from the Plan Distribution
Fund which shall be funded from excess funds after Debtor's receipt
of the final Employee Retention Tax Credit, and alternatively with
a contribution from the Debtor's principal in the amount of
$5,000.00.

The Debtor estimates these Claims to total approximately
$5,227,027.64 and the Debtor estimates that such holders will
receive approximately .095% on account of their Allowed Claims.
Class 2 Claims are Impaired under the Plan and are allowed to vote
to accept or reject the Plan.

Class 3 consists of the holders of Interests in the Debtor. Class 3
Interests holders shall retain their interests in the Debtor and
are not expected to receive any monetary distributions under the
Plan. Class 3 Interests are unimpaired and deemed to accept the
Plan.

The Plan shall be funded from the Debtor's Cash and a $5,000.00
contribution from Scott Sobo, the Debtor's principal. Such assets
shall constitute the Plan Distribution Fund, which shall be
distributed by the Debtor in accordance with the terms of the
Plan.

A full-text copy of the Disclosure Statement dated March 12, 2025
is available at https://urlcurt.com/u?l=AdIdnf from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     KIRBY AISNER & CURLEY LLP
     Dawn Kirby, Esq.
     700 Post Road, Suite 237
     Scarsdale, New York 10583
     (914) 401-9500

                        About SAS Group Inc.

SAS Group Inc. is a New York limited liability corporation that
provided marketing and development services for numerous global
products.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 24-22066) on Jan. 26, 2025, with
$100,001 to $500,000 in assets and $1,000,001 to $10 million in
liabilities.

Judge Sean H. Lane presides over the case.

Dawn Kirby, Esq. at Kirby Aisner & Curley, LLP, is the Debtor's
legal counsel.


SAVAGE ENTERPRISES: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has affirmed Savage Enterprises, LLC's and Savage
Companies' (Savage) Long-Term Issuer Default Ratings (IDRs) of
'B+', with a Stable Rating Outlook. Fitch has also affirmed Savage
Enterprises, LLC's $650 million revolving asset-based loan (ABL)
'BB+' rating with a Recovery Rating of 'RR1' and the $1.2 billion
first-lien term loan B 'BB-'/'RR3' ratings.

The ratings reflect Savage's vital infrastructure operations and
strategically located agribusiness assets, benefitting from
logistical expertise. Commodity price risk is mitigated by hedging
to ensure profit per unit. Fitch expects EBITDA leverage in the
high-3.0x range for 2025-2026, below negative rating sensitivity,
with EBITDA interest coverage improving to 4.0x and FCF breaking
even to slightly positive in 2025 amid growth spending.

Considerations include Savage's smaller scale, concentrated
agricultural (ag) commodity sourcing, moderate U.S. coal exposure
and potential tariffs. Fitch expects Savage to pursue projects and
acquisitions to enhance cash flow, potentially causing temporary
credit metric variability.

Key Rating Drivers

Steady Infrastructure Demand, Cash Flows: Fitch views the
infrastructure segment's operating profile as aligned with the
low/mid 'BB' rating category, a relative strength to the rating,
owing to its steady demand dynamics and the mission-critical nature
of its operating and maintenance services that support earnings and
cash flow stability. Demand stability reflects the consistency in
output-linked services Savage provides for power and refinery
facilities as well as multiyear service contracts in place.

Savage provides essential services with high cost of failure and
low wallet share, including the handling, transportation, and
logistical support required for the safe movement and management of
hazardous materials such as petroleum coke. A portion of Savage's
infrastructure segment services the U.S. coal industry, where the
slow secular decline in coal production is moderated by the
relatively small proportion of Savage's EBITDA generated from the
sector.

Agribusiness Smaller Scale; Concentrated Operations: Fitch
considers Savage's EBITDA, which is below $500 million, along with
its regional concentration and focus on a few ag commodities, as
aligned with the high 'B' rating category. This concentration
results in a degree of regional variability in sourcing ag
commodities due to reliance on local seasonal conditions and
fluctuating harvest productivity. Fitch recognizes the company's
operational capabilities provide sourcing and production
optionality that help reduce these risks.

Savage plays a crucial role in Mexico's grain supply chain and
benefits from the continuous global demand for ag commodities,
which remains relatively stable through economic cycles. However,
it faces larger competitors that have some scale-linked operational
advantages, which help buffer regional harvest shortfalls and
geopolitical tensions, among other considerations. However, Fitch
notes that Savage has implemented effective risk management
practices that significantly mitigate margin risk from price
volatility.

Impacts of Tariffs: Fitch's forecast assumes any decreased demand
from Mexico would be mitigated by access to U.S. ports and the
ability to ship elsewhere, but potentially at higher costs, or by
seeking additional domestic demand. While Savage currently has good
headroom under Fitch's rating sensitivities, the agency will
continue to monitor trade developments and Savage's optionality.
Steady U.S. crop demand is expected, driven by the USDA's growth
projections based on renewable diesel, demographic shifts, and
livestock needs. Mexico contributes about one-third of Savage's
EBITDA, with most grain transported by train and some by vessel.

Forecast High-3.0x Leverage: Fitch anticipates EBITDA leverage will
improve to the high-3.0x range by the end of 2025, driven by
full-year contributions from the Texon acquisition and the soybean
crushing facility, with further improvement toward mid-3.0x by
2027. Fitch believes management will prioritize growth investments,
with excess FCF allocated to capital projects and acquisitions.
While the company's financial policy targets deleveraging to
approximately 3.5x on a company-calculated net leverage basis
following project or acquisition investments, Fitch acknowledges
that leverage may fluctuate in line with these strategic
priorities.

FCF Supports Growth: Fitch expects FCF generation will be around
breakeven over the forecast horizon, reflecting expectations of
continued growth investments following completion of the crush
facility. The company plans to balance growth capex with robust
availability under its ABL. These projects aim to enhance
connectivity in logistics channels, such as ports and transload
terminals, and support growth capacity through new elevators. Fitch
believes this strategy maintains financial flexibility to adjust
capex as needed, with only $60 million to $70 million required for
maintenance spending.

Projects Support Diversification, Vertical Integration: Fitch
believes the soybean crushing facility and Texon provide some
diversification, scale, and vertical integration benefits. The
facility enables Savage to capture additional supply chain margin
and accelerate growth due to renewable diesel demand. Texon allows
ownership of energy commodities, improving supply chain position
and cross-selling with shared customers. These benefits are weighed
against execution risks, as they establish a customer base for the
soybean facility and enter a related market with Texon. Management
claims Texon has risk management practices to mitigate price-linked
margin risks, akin to its agribusiness.

Inventories Bolster Contingent Liquidity: The market for Savage's
ag commodities is highly liquid throughout business cycles,
providing contingent liquidity. At YE2024, Savage's ag inventory
balance exceeded $300 million, including liquid commodities like
wheat, corn, and soybeans. For normal needs, Savage maintains
access to an ABL facility with commitments up to $650 million, with
the borrowing base exceeding $400 million at YE2024. With $32
million of cash and over $350 million of ABL capacity, Savage is
well positioned to fund early-year inventory payments. EBITDA
interest coverage is projected to improve to 4.0x, further
indicating a cash flow profile supportive of the 'B+' rating.

Peer Analysis

Compared with rated ag peers Tereos SCA (BB/Positive) and Andre
Maggi Participacoes S.A. (BB/Stable), Savage has a relatively
smaller scale and more geographical concentration, which leads to
heightened operational/sourcing risks. Savage's operating profile
considerations are similar to Aragvi Holding International Limited
(B+/Stable) with both sharing regional concentration, limited scale
and focused product offerings.

Fitch also compares Savage to plant services providers such as WEC
US Holdings Ltd. (Westinghouse Electric Company; B+/Stable).
Westinghouse provides a high degree of recurring operational and
fueling offerings that create a steady cash flow stream while
maintaining a uniquely strong market share. Fitch expects Savage's
EBITDA leverage to remain in the high-3.0x range which is
relatively lower than Westinghouse at 4.5x. Aragvi's readily
marketable inventory-adjusted net EBITDA leverage was 2.7x in
2024.

Key Assumptions

- Revenue and EBITDA grow organically by low single digits annually
throughout the forecast;

- Capex of around $150 million to $200 million annually throughout
the forecast period, supporting growth capacity and the buildout of
logistical channels;

- Working capital investment is expected to moderate following
completion of the crush facility;

- Savage balances growth-oriented capital deployment with
maintaining robust ABL availability and leverage profile around the
mid-to-high-3.0x range;

- Annual owner distributions remain steady;

- SOFR rates are assumed to be around 4% through the forecast.

Recovery Analysis

The recovery analysis assumes that Savage would be reorganized as a
going concern (GC) in bankruptcy rather than liquidated. Fitch has
assumed a 10% administrative claim.

The GC EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganization EBITDA level upon which Fitch bases the
valuation of the company. GC EBITDA at $300 million, which accounts
for contributions from Texon and Project Crush, considers a
scenario of extended severe weather conditions impacting the
ability to profitably source commodity inputs, an accelerated
decline in the coal business, or persistent operational
challenges/economic weakness.

The GC multiple of 4.75x reflects the blended multiple of the ag
and infrastructure business, considering the company's scale,
commoditized nature of its agriculture products and relative
steadiness in the infrastructure business. It also considers
comparable valuations among peers in the ag and infrastructure
services markets.

In Fitch's calculation of ABL utilization, Fitch considers the
average historical borrowing base including additions from Texon
and is assumed to be fully drawn.

The waterfall results in a 'BB+'/'RR1' Recovery Rating for the ABL
facility of $650 million and a 'BB-'/'RR3' for the first-lien term
loan B of $1.2 billion.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- EBITDA leverage sustained above 4.0x;

- Reduced financial flexibility, as reflected in EBITDA interest
coverage sustained below 3.0x or an inability to sustain midcycle
ABL availability around 50% or more;

- Operating challenges or a change in strategy that leads to
heightened earnings variability or constrains Savage's cash flow
profile.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Demonstrated commitment and track record of financial policies
leading to EBITDA leverage sustained below 3.5x;

- Improved scale and diversification of operations that increase
the stability of Savage's FCF profile;

- Improved financial flexibility as indicated by sustaining EBITDA
interest coverage above 3.5x.

Liquidity and Debt Structure

As of Dec. 31, 2024, Savage had $390 million in liquidity,
including $32 million in cash and $358 million available on its
$650 million ABL. This is adequate for early-year inventory
payments to farmers. The ABL's borrowing base increased by over
$200 million in FY24 due to Texon's asset addition, increased
soybean inventory from a new facility, and replenished wheat and
corn stocks from a strong harvest. Positive FCF, before dividends
and growth projects, supports financial flexibility. The ABL
facility matures in 2026, followed by a term loan with 1% annual
amortization, due in 2029.

Issuer Profile

Savage, established in 1946 and headquartered in Utah, is a
privately held transportation logistics materials handling and
industrial services company serving industries including oil
refining, power generation, railroads, food, agriculture, oil and
gas, mining, chemicals, petrochemicals, ports, terminals and
construction.

Summary of Financial Adjustments

Savage Gulf Rail (SGR) Deconsolidation

Fitch deconsolidates the SGR subsidiary from Savage and as a result
has not included the $150 million of notes due 2041 in its
standalone credit metrics. Likewise, the subsidiaries assets, note
collateral and earnings stream are excluded from the analysis.
Fitch views the notes as adequately ring-fenced and funded by note
receivables from customers that utilize the underlying rail
terminal facility. Fitch also assumes Savage would not support the
SGR entity upon financial distress given its limited operational
and financial contribution to Savage, in accordance with Section 6
of the Corporate Rating Methodology.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

Fitch's latest quarterly Global Corporates Macro and Sector
Forecasts data file which aggregates key data points used in its
credit analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.

ESG Considerations

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt                 Rating        Recovery   Prior
   -----------                 ------        --------   -----
Savage Enterprises,
LLC                      LT IDR B+  Affirmed            B+

   senior secured        LT     BB+ Affirmed   RR1      BB+

   senior secured        LT     BB- Affirmed   RR3      BB-

Savage Companies Inc.    LT IDR B+  Affirmed            B+


SBA COMMUNICATIONS: S&P Raises Sr. Unsecured Debt Rating to 'BB+'
-----------------------------------------------------------------
S&P Global Ratings raised its issue-level rating on SBA
Communications Corp.'s senior unsecured debt to 'BB+' from 'BB' and
revised the recovery rating to '4' from '5'. The '4' recovery
rating indicates its expectation for average (30%-50%; rounded
estimate: 40%) recovery in the event of payment default. S&P's
'BBB-' issue-level rating on the company's senior secured debt is
unchanged because it caps the rating at one notch above its issuer
credit rating. S&P's '1' recovery rating on the senior secured debt
is also unchanged, indicating its expectation for very high
(90%-100%; rounded estimate: 95%) recovery in the event of a
payment default.

S&P said, "We raised our rating on SBA's senior unsecured debt to
reflect updated information related to the inclusion of
unencumbered domestic and international tower sites, which
increased our default valuation of the company and could be
available ratably to both its secured and unsecured lenders in a
hypothetical default scenario. That said, we do not include the
towers that are pledged to SBA Holdings, which holds the wireless
tower-backed securities."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario contemplates a hypothetical
default occurring in 2030 due to speculative capital spending for
expansion, more-viable competition amid technological advancements,
economic pressure that leads to increased customer churn, and
contract renegotiations at lower prices. S&P believes this decline
in SBA's operating results would lead to a payment default when its
liquidity and cash flow become insufficient to cover its cash
interest expense, mandatory debt amortization, and
maintenance-level capital expenditure requirements.

-- At default, our recovery analysis assumes a capital structure
comprising a $2 billion secured revolving credit facility maturing
in 2029 (85% drawn), a $2.3 billion term loan maturing in 2031, and
$3 billion of senior unsecured debt.

-- S&P has valued the company on a going-concern basis using a
discrete asset valuation of its tower assets to arrive at an
estimated going-concern net emergence valuation of $5.3 billion.

-- S&P believes that if SBA were to default, its existing towers
would continue to have a viable business model because of the
ongoing demand for space on towers due to the rising demand for
mobile data, video, and other applications.

-- Therefore, S&P believes its creditors would achieve the
greatest recovery value through a reorganization and a sale of the
company as a going concern rather than a liquidation.

Simulated default assumptions

-- Simulated year of default: 2030

-- S&P has used a discrete-asset valuation of the company's tower
assets to arrive at an estimated going-concern gross enterprise
valuation of $5.6 billion.

-- S&P values the U.S. towers at $360,000 per tower, incorporating
a discount of 20% to the average of selected market transactions.
It values the foreign tower portfolio at $125,000 per tower, also
incorporating a discount of 20% to the average of selected
transactions.

Simplified waterfall

-- Net emergence value (EV) after 5% administrative costs: $5.4
billion

-- Valuation split (obligors/nonobligors): 80%/20%

-- Estimated net EV available for senior secured debt: $4.3
billion

-- Estimated senior secured debt claims: $4.0 billion

    --Senior secured debt recovery rating: '1' (90%-100%; rounded
estimate: 95%)

-- Estimated value available for senior unsecured debt: $1.3
billion

-- Estimated senior unsecured debt and deficiency claims: $3.1
billion

    --Senior unsecured debt recovery rating: '4' (30%-50%; rounded
estimate: 40%)

Note: All debt amounts include six months of prepetition interest.



SBLA INC: Soneet Kapila Named Subchapter V Trustee
--------------------------------------------------
The U.S. Trustee for Region 21 appointed Soneet Kapila of Kapila
Mukamal as Subchapter V trustee for SBLA, Inc.

Mr. Kapila 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. Kapila declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Soneet R. Kapila
     Kapila Mukamal
     1000 South Federal Highway, Suite 200
     Fort Lauderdale, FL 33316
     Tel: (954) 761-1011
     Email: skapila@kapilamukamal.com

                         About SBLA Inc.

SBLA, Inc. focuses on providing non-invasive, at-home anti-aging
solutions through its innovative "sculpting wands."  Its product
line includes items like the Neck, Chin & Jawline Sculpting Wand,
Facial Instant Sculpting Wand, and Lip Plump & Sculpt to help firm,
lift, and rejuvenate various areas of the face and body. Known for
its collaboration with Christie Brinkley, SBLA emphasizes
effective, science-backed skincare to offer alternatives to
invasive procedures.

SBLA sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. Case No. 25-12606) on March 11, 2025, listing
$801,858 in assets and $3,252,917 in liabilities. Leonard Cogan,
chief financial officer, signed the petition.

Judge Mindy A. Mora oversees the case.

Bradley S. Shraiberg, Esq., at Shraiberg Page PA, represents the
Debtor as legal counsel.


SILVER AIRWAYS: Gets Extension to Access Cash Collateral
--------------------------------------------------------
Silver Airways, LLC and Seaborne Virgin Islands, Inc. received
interim approval from the U.S. Bankruptcy Court for the Southern
District of Florida, Fort Lauderdale Division, to use cash
collateral until April 11, marking the seventh extension since the
companies' Chapter 11 filing.

The court's previous interim order allowed the companies to access
cash collateral until April 1 only.

The seventh interim order granted secured lenders, including
Brigade Agency Services, LLC, Argent Funding, LLC and Volant SVI
Funding, LLC, replacement liens on the companies' personal property
junior and subordinate to the carve-out.

As additional protection, secured lenders will be granted a
superpriority
administrative expense claim in the amount of any diminution in the
value of their cash collateral occurring from the petition date
through the date of determination.

A final hearing is scheduled for April 11.

                        About Silver Airways

Silver Airways, LLC is a regional U.S. airline operating flights
between gateways in Florida, the Southeast and The Bahamas. The
Silver Airways fleet is comprised of modern, state of the art
aircraft with reliable, fuel-efficient turbo-prop engines.

In the summer of 2018, Silver completed the acquisition of Seaborne
Airlines, a San Juan, Puerto Rico-based air carrier serving
destinations throughout Puerto Rico, the U.S. Virgin Islands, and
other countries in the Caribbean. Seaborne provides connections
throughout the Caribbean via the carrier's hub in San Juan, while
also serving as the most critical link between St. Croix and St.
Thomas with the carrier's seaplane operation.

Silver Airways and Seaborne Virgin Islands, Inc. filed Chapter 11
petitions (Bankr. S.D. Fla. Lead Case No. 24-23623) on December 30,
2024. At the time of the filing, Silver Airways reported $100
million to $500 million in assets and liabilities while Seaborne
reported $1 million to $10 million in assets and liabilities.

Judge Peter D. Russin oversees the cases.

Brian P. Hall, Esq., is the Debtors' legal counsel.

Brigade Agency Services, LLC, as lender, is represented by:

     Frank P. Terzo, Esq.,
     Nelson Mullins Riley & Scarborough, LLP
     100 S.E. 3rd Avenue, Suite 2700
     Fort Lauderdale, FL 33394
     Telephone: 954-764-7060
     Fax: 954-761-8135
     Email: frank.terzo@nelsonmullins.com

Argent Funding LLC and Volant SVI Funding LLC, as lenders, are
represented by:

     Regina Stango Kelbon, Esq.
     Blank Rome, LLP
     1201 N. Market Street, Suite 800
     Wilmington, DE 19801
     Phone: +1.302.425.6400
     Fax: +1.302.425.6464
     Email: regina.kelbon@blankrome.com


SILVERGATE CAPITAL: Ch. 11 Examiner Raises Investigation Issues
---------------------------------------------------------------
Vince Sullivan of Law360 Bankruptcy Authority reports that an
examiner appointed in the Chapter 11 case of Silvergate Capital
Corporation filed a report in Delaware bankruptcy court, expressing
concerns about the independent investigation into potential claims
against the company's directors and officers.

The Troubled Company Reporter previously reported that Judge Karen
Owens of the U.S. Bankruptcy Court for the District of Delaware
approved the appointment of Stephanie Wickouski as examiner in the
Chapter 11 cases of Silvergate Capital Corporation and its
affiliates.

Ms. Wickouski was appointed by the U.S. Trustee for Region 3 after
a series of consultations with the companies' management, Stilwell
Activist Investments, L.P., Exploration Capital Fund, LP and an ad
hoc group representing preferred shareholders.

In court papers, Ms. Wickouski disclosed that she is a
"disinterested person" within the meaning of Section 101(14) of
the
Bankruptcy Code.

               About Silvergate Capital Corporation

Silvergate Capital Corporation is a Maryland corporation
headquartered in La Jolla, Calif. Until July 1, 2024, it was a bank
holding company subject to supervision by the Board of Governors of
the Federal Reserve.

Silvergate Capital Corporation filed voluntary Chapter 11 petition
(Bankr. D. Del. Lead Case No. 24-12158) on Sept. 17, 2024, listing
$100 million to $500 million in assets and $10 million to $50
million in liabilities. The petitions were signed by Elaine Hetrick
as chief administrative officer.

Judge Karen B. Owens oversees the case.

Paul N. Heath, Esq., at Richards, Layton & Finger, P.A. represents
the Debtor as legal counsel.




SLATER PARK: Seeks to Extend Plan Exclusivity to June 22
--------------------------------------------------------
Slater Park, LLC, and affiliates asked the U.S. Bankruptcy Court
for the Northern District of Georgia to extend their exclusivity
periods to file a plan of reorganization and obtain acceptance
thereof to June 22 and August 21, 2025, respectively.

The Debtors explain that they seek an extension to the Exclusivity
Periods to preclude the costly disruption and instability that
would occur if competing plans were proposed or in having to amend
a premature plan.

The Debtors claim that the request for an extension will not
unfairly prejudice or pressure Debtors' creditors or grant Debtors
any unfair bargaining leverage. Debtors need creditor support to
confirm any plan, so Debtors are in no position to impose or
pressure its creditors to accept unwelcome plan terms. Debtors seek
an extension of the Exclusivity Periods to advance the case after
resolution of the Lease Motion and the negotiations with the
Landlord.

The Debtors assert that termination of the current Exclusivity
Periods may engender duplicative expense and litigation associated
with multiple competing plans. Any litigation with respect to
competing plans and resulting administrative expenses will only
decrease recoveries to Debtors' creditors and significantly delay,
if not undermine entirely, the possibility of prompt confirmation
of a plan of reorganization.

The Debtors further assert that the requested extension of the
Exclusivity Periods will not prejudice the legitimate interests of
any party in interest in this case, given the consequences for
Debtors' estates if the relief requested herein is not granted and
the progress made to date. Rather, the extension will further
Debtors' efforts to preserve value and avoid unnecessary and
wasteful litigation.

                           About Slater Park

Slater Park, LLC, owns and operates two bars and interactive
amusements on the rooftop at the Premises that is commonly known as
Skyline Park in Atlanta, Ga.

Slater Park filed a Chapter 11 petition (Bankr. N.D. Ga. Case No.
24-21491) on Nov. 22, 2024, listing up to $10 million in both
assets and liabilities. Brett Hull-Ryde, chief executive officer,
signed the petition.

Judge James R. Sacca oversees the case.

The Debtor is represented by:

   Ceci Christy, Esq.
   William A. Rountree, Esq.
   Rountree Leitman Klein & Geer, LLC
   Tel: 404-584-1238
   cchristy@rlkglaw.com
   wrountree@rlkglaw.com


STICKY FINGERS: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Sticky Fingers Restaurants, LLC.

                 About Sticky Fingers Restaurants

Sticky Fingers Restaurants, LLC, a company in Greenville, S.C.,
offers a variety of hickory-smoked meats and Southern barbecue
specialties in a casual dining setting.

Sticky Fingers Restaurants filed Chapter 11 petition (Bankr. D.
S.C. Case No. 25-00774) on March 1, 2025. In its petition, the
Debtor reported up to $50,000 in assets and between $1 million and
$10 million in liabilities.

Judge Helen E. Burris oversees the case.

The Debtor is represented by:

     Robert H. Cooper, Esq.
     The Cooper Law Firm
     1610 Gowdeysville Road
     Gaffney, SC 29340
     Tel: 864-271-9911
     Fax: 864-232-5236
     Email: rhcooper@thecooperlawfirm.com


SWITCHBACK COFFEE: Gets Extension to Access Cash Collateral
-----------------------------------------------------------
Switchback Coffee Roasters, Inc. received another extension from
the U.S. Bankruptcy Court for the District of Colorado to use cash
collateral.

The order authorized the company to use cash collateral pursuant to
the budget it filed with the court through the date of the final
hearing.

Any creditor that holds security interest in the cash collateral
will be provided with protection in the form of replacement liens
on post-petition accounts receivable and insurance coverage on the
company's personal property.

The court's order approving the company's prior agreement with the
Colorado Department of Revenue regarding the use of cash collateral
remains in effect.

                     About Switchback Coffee Roasters

Switchback Coffee Roasters, Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No.
24-14822) on Aug. 19, 2024, with as much as $1 million in both
assets and liabilities.

Judge Thomas B. McNamara oversees the case.

Aaron A. Garber, Esq., at Wadsworth Garber Warner Conrardy, PC
serves as the Debtor's legal counsel.


TRANS AMERICAN: $4M Sale to Smith and Sons to Fund Plan
-------------------------------------------------------
Trans American Aquaculture, LLC, filed with the U.S. Bankruptcy
Court for the Southern District of Texas a Small Business Chapter
11 Plan of Reorganization dated March 12, 2025.

The Debtor was formed in 2017 by Adam Thomas, Luis Arturo Granda
and Cesar Granda with the intent of revitalizing shrimp farming in
southern Texas.

The Debtor's Plan will be one that will liquidate its assets in an
orderly fashion. The Debtor already has a contract of sale with
Smith and Sons Seafood, Inc out of Georgia which is a competing
shrimp farm. The purchase price is for $4 million including an
approximate .25-acre tract along the Colorado Aroyo. The Plan will
distribute these proceeds in accordance with the priorities
established in the Bankruptcy Code.

Also, any fraudulent conveyances or preferences will be pursued for
the benefit of the creditors. Of a package sale of the 1,8800 acres
of real estate, and the shrimp brook stock and accompanying
equipment can be arranged all creditors would be satisfied in full
upon the consummation of the sale. If such a Purchase and Sale can
be accomplished the Debtor will seek orders of the Court under the
provisions of Section 363 and Rule 9019.

No operations to produce additional shrimp or market the shrimp
currently owned have been undertaken since the petition date in
light of the pending sale of the shrimp brook stock and
accompanying equipment to Smith & Sons for the total sales price of
$4 million. However, some discussions have been undertaken that
would include a sale of the 1,880 acres where the title Is held by
King's Aqua Culture to be included in the transaction. These
negotiations are ongoing.

Non-priority unsecured creditors holding allowed claims will
receive distributions which the proponent of this Plan estimates
should total approximately 100 cents on the dollar.

Class 4 consists of General Unsecured Creditors. This claim will be
paid in full upon the closing the Purchase and Sale Agreement and
the distribution of net proceeds derived from such sale, and the
prior payment of all claims having a higher priority. The allowed
unsecured claims total $2,973,271.34.

Smith and Sons located in Darien, Georgia has entered into a
purchase and sale agreement covering its operations along with all
assets and liabilities of the bankruptcy estate of the Debtor. The
Debtor intends to file and notice out to creditors a Motion to Sell
All Real and Personal Property associated with the Bankruptcy
Estate to Smith and Sons for the purchase price of $4,000,000.00.
The terms of the Purchase and Sale Agreement provide for the
closing to occur on or before April 30, 2025. It is anticipated
that the net proceeds from this sale will be sufficient to pay all
claims of the Estate in full.

A full-text copy of the Plan of Reorganization dated March 12, 2025
is available at https://urlcurt.com/u?l=AKW2JY from
PacerMonitor.com at no charge.

The firm can be reached through:

     David R. Langston, Esq.
     Mullin Hoard & Brown, L.L.P.
     P.O. Box 2585
     Lubbock, TX 79408-2585
     Tel: (806) 372-5050
     Fax: (806) 372-5086
     Email: drl@mhba.com

                    About Trans American Aquaculture

Trans American Aquaculture, LLC, is a family-owned company in
Dallas, Texas, that produces white shrimps.

Trans American Aquaculture sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Tex. Case No. 24-10217) on Dec.
13, 2024, with $1 million to $10 million in both assets and
liabilities.  Chief Executive Officer Adam Thomas signed the
petition.

Judge Eduardo V. Rodriguez presides over the case.

David R. Langston, Esq., at Mullin Hoard & Brown, LLP, is the
Debtor's bankruptcy counsel.


TRINSEO PLC: Redeems All 2029 Senior Notes, Discharges Indenture
----------------------------------------------------------------
Trinseo PLC disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that Trinseo Holding S.a r.l.
and Trinseo Materials Finance, Inc., each indirect wholly owned
subsidiary of the Company, redeemed all of their remaining
outstanding 5.125% senior notes due 2029, which were issued under
that certain Indenture, dated as of March 24, 2021, by and among
the Existing Issuers and The Bank of New York Mellon, as trustee,
and discharged the Indenture.

In connection with the Issuers irrevocably depositing or causing to
be deposited with the Trustee funds in an amount sufficient to
redeem the entire outstanding amount of 2029 Notes, including for
principal of, redemption premium on, and interest on the 2029 Notes
to, but not including, the Redemption Date ($553,000 in the
aggregate), the Indenture was satisfied and discharged in
accordance with its terms (other than with respect to those
provisions of the Indenture that expressly survive satisfaction and
discharge).

                        About Trinseo

Headquartered in Wayne, PA, Trinseo (NYSE: TSE) (www.trinseo.com),
a specialty material solutions provider, partners with companies
to
bring ideas to life in an imaginative, smart, and sustainably
focused manner by combining its premier expertise, forward-looking
innovations, and best-in-class materials to unlock value for
companies and consumers. From design to manufacturing, Trinseo taps
into decades of experience in diverse material solutions to address
customers' unique challenges in a wide range of industries,
including building and construction, consumer goods, medical, and
mobility.

Trinseo reported a net loss of $701.3 million in 2023 and a net
loss of $430.9 million in 2022. As of September 30, 2024, Trinseo
had $2.9 billion in total assets, $3.4 billion in total
liabilities, and $480 million in total stockholders' deficit.

                           *   *   *

In Jan. 2025, S&P Global Ratings raised the issuer credit rating on
Trinseo PLC to 'CCC+' from 'SD' (selected default). All issue-level
and recovery ratings on the company's existing debt are unchanged.
The outlook is negative and reflects the challenging macroeconomic
environment affecting the company's key end markets and S&P's
expectation that credit metrics will remain pressured over the next
12 months.


TSFG LLC: Seeks Chapter 11 Bankruptcy in Georgia
------------------------------------------------
On April 1, 2025, TSFG 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 $1 million and $10
million in debt owed to 1 and 49 creditors. The petition states
funds will be available to unsecured creditors.

                   About TSFG LLC

TSFG LLC, a/k/a The Skyfall Group, is a family-owned company
specializing in exterior home repairs and storm restoration
services for both residential and commercial properties. The
Company offers a comprehensive range of services, including roof
repair and replacement, gutter installation, siding, and painting.
Operating primarily in Georgia, Tennessee, and Kentucky, Skyfall
Group prides itself on its expertise in insurance restoration,
providing free inspections and offering a 5-year labor warranty on
roof replacements.

TSFG LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr.  ) on April 1, 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 Jeffery W. Cavender handles the case.

The Debtor is represented by William Rountree, Esq. at ROUNTREE,
LEITMAN, KLEIN & GEER, LLC.


UNIVERSAL BIOCARBON: Gets Extension to Access Cash Collateral
-------------------------------------------------------------
Universal Biocarbon, Inc. received interim approval from the U.S.
Bankruptcy Court for the Southern District of Florida, West Palm
Beach Division, to use cash collateral pending a further hearing on
June 25.

The company needs to use cash collateral to pay regular operating
expenses and administrative expenses in accordance with the budget,
with a 10% variance.

The budget shows total monthly expenses range from $91,255.27 to
$196,024.36.

As protection, each creditor with a security interest in cash
collateral will be granted a post-petition lien on the cash
collateral to the same extent and with the same
validity and priority as its pre-bankruptcy lien.

As additional protection, Universal Biocarbon was ordered to keep
the secured creditors' collateral insured.

                  About Universal Biocarbon Inc.

Universal Biocarbon Inc. transforms vegetative biomass such as yard
waste and tree trimmings, into high-quality carbon products like
compost, mulch, biochar, and activated carbon. Through a
partnership with the Sunshine State Biomass Cooperative, UBC
creates a cycle of beneficial reuse, sharing profits with the
suppliers of biomass feedstock. The company is based in Canal
Point, Fla.

Universal Biocarbon filed Chapter 11 petition (Bankr. S.D. Fla.
Case No. 25-10987-EPK) on January 30, 2025, listing up to $1million
in assets and up to $10 million in liabilities. David Disbrow,
chairman and founder of Universal Biocarbon, signed the petition.

Judge Erik P. Kimball oversees the case.

Craig I. Kelley, Esq., at Kelley Kaplan & Eller, PLLC, represents
the Debtor as legal counsel.


VANTAGE POINT: Seeks Chapter 11 Bankruptcy in Wisconsin
-------------------------------------------------------
On April 2, 2025, Vantage Point Corporation 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 1 and 49 creditors. The petition states funds will be available
to unsecured creditors.

           About Vantage Point Corporation

Vantage Point Corporation, 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.

Vantage Point Corporation sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-21737)
on April 2, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million.

Honorable Bankruptcy Judge Rachel M. Blise handles the case.

The Debtor is represented by Evan P. Schmit, Esq. at KERKMAN &
DUNN.


VARENNES CELLULOSIC: Get CCAA Initial Stay Order; E&Y as Monitor
----------------------------------------------------------------
The Quebec Superior Court for the District of Montreal sitting as
the designated tribunal pursuant to the Companies' Creditors
Arrangement Act issued an order declaring Varennes Cellulosic
Ethanol LP & 7037163 Canada Inc. (Recyclage Carbone Varennes) are
Debtor companies to which the CCAA applies, appointing Ernst &
Young Inc. as monitor and providing the Debtors with various rights
and relief measures.

The Court number assigned for this matter is 500-11-065381-259

Under Section 23 of the CCAA, a copy of the order and a list of the
creditors of the Debtors as of March 11, 2025, must be made
available to the creditors.  Accordingly, you may obtain a copy of
the initial order and the creditors list as well as various
information pertaining to the CCAA proceedings on the Monitor's
website at https://www.ey.com/vcr.

Persons requiring further information not available on the
Monitor's website or who have additional questions may communicate
with the Monitor by phone 1-844-479-5063 or by-email at
vcr@ca.ey.com.

The Monitor can be reached at:

   Ernst & Young Inc.
   900 Boulevard de Maisonnevue Quest
   Suite 2300
   Montreal, QC H3A 0A8

   Eric St-Amour
   Tel: (514) 879-8224
   Email: eric.st-amour@parthenon.ey.com

   Martin Daigneault
   Tel: (514) 874-4333
   Email: martin.daigneault@parthenon.ey.com

Counsel to the Monitor:

   Fasken Martineau Dumoulin LLP
   800, rue du Square-Victoria
   Suite 3500
   Montreal, QC H3C 0B4

   Marc-Andre Morin
   Tel: (514) 397-5131
   Email: mamorin@fasken.com

   Eliane Dupere-Tremblay
   Tel: (514) 397-7412
   Email: edtremblay@fasken.com

Counsel to the Companies:

   Stikeman Elliott LLP
   1155 Rene-Levesque Blvd., West
   41st Floor
   Montreal, QC H3B 3V2

   Joseph Reynaud
   Tel: (514) 397-4019
   Email: jreynaud@stikeman.com

   Darien Bahry
   Tel: (514) 397-2441
   Email: dbahry@stikeman.com

Varennes Cellulosic Ethanol is a biomethanol production plant and
the largest producer of green hydrogen in Quebec.


VIRGINIA BEACH: Paula Beran Named Subchapter V Trustee
------------------------------------------------------
The Acting U.S. Trustee for Region 4 appointed Paula Beran, Esq.,
at Tavenner & Beran, PLC as Subchapter V trustee for Virginia Beach
Patios, Inc.

Ms. Beran will be paid an hourly fee of $480 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Ms. Beran declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Paula S. Beran, Esq.
     Tavenner & Beran, PLC
     20 North 8th Street
     Richmond, Virginia 23219
     Phone: (804) 783-8300
     Email: Beran@TB-LawFirm.com

                 About Virginia Beach Patios Inc.

Virginia Beach Patios, Inc. is a family-owned contractor
specializing in designing and building custom outdoor living
spaces, including custom pools, outdoor kitchens, fire features, or
artistic structures.  The company is committed to delivering
high-quality craftsmanship and creating functional, beautiful
environments that enhance the homeowner's outdoor experience. With
personalized service and innovative designs, the company transforms
ordinary yards into extraordinary outdoor retreats.

Virginia Beach Patios sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-70478) on March
7, 2025, listing $186,926 in assets and $1,233,715 in liabilities.
Angela Marie Rose, president of Virginia Beach Patios, signed the
petition.

Judge Frank J. Santoro oversees the case.

Carolyn Bedi, Esq., at Bedi Legal, P.C., represents the Debtor as
bankruptcy counsel.


VITRO BIOPHARMA: Posts $2.8M Loss in Q1, Raises Going Concern Doubt
-------------------------------------------------------------------
Vitro Biopharma, Inc. filed with the U.S. Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting net loss of
$2.8 million available to common stockholders during the three
months ended Jan. 31, 2025, compared to a net loss of $4.6 million
available to common stockholders for the same period in 2024.

The Company had an accumulated deficit as of January 31, 2025, of
$40.8 million, cash in operating activities of $0.4 million, and
$1.2 million during the three months ended January 31, 2025 and
2024, respectively. The Company had a working capital deficit of
approximately $12.3 million as of January 31, 2025. These factors
raise substantial doubt about its ability to continue as a going
concern.

"We have commenced the execution of our long-range business plan
and efforts to generate additional revenue; however, our current
cash position is not sufficient to support our daily operations for
the next 12 months. Our ability to continue as a going concern is
dependent upon our ability to raise additional funds through debt
or equity financings and our ability to further implement our
business plan and generate additional revenue."

As of Jan. 31, 2025, the Company had $4.4 million in total assets,
$14.4 million in total liabilities, and $10 million in total
stockholders' deficit.

A full-text copy of the Company's Form 10-Q is available at:

                  https://tinyurl.com/h3rd4v24

                       About Vitro Biopharma

Headquartered in Denver, Colorado, Vitro Biopharma, Inc. is an
innovative biotechnology company targeting autoimmune diseases and
inflammatory disorders, with an ancillary focus in the research
services and cosmeceutical fields.  With respect to its
regenerative medicine business, the Company is developing novel
cellular therapeutic candidates intended to address significant
unmet medical needs.  In the United States, the Company is
authorized to conduct two clinical trials under two FDA IND
applications to assess the safety and efficacy of AlloRx Stem Cell
therapy in PTHS and PASC, or Long COVID, and expects to commence
those trials in early 2024.  The Company generates revenue from its
other technologies through a number of other activities, including
through the sale of its stem cell products as well as
cosmeceuticals through InfiniVive MD, its wholly-owned subsidiary,
which helps to alleviate its capital expenses.


WATTS CHOPPING: Gets OK to Use Cash Collateral Until April 30
-------------------------------------------------------------
Watts Chopping, Inc. received another extension from the U.S.
Bankruptcy Court for the Eastern District of California, Fresno
Division, to use cash collateral.

The order authorized the company to use cash collateral for the
period from April 1 to 30 to pay the expenses set forth in its
budget.

The six-month budget projects total expenses of $385,815.78.

As protection, the Internal Revenue Service and Ag West Farm
Credit, PCA, a secured creditor, were granted replacement liens on
some of the company's assets. In addition, the IRS and Ag West Farm
Credit will receive monthly payments of $3,211 and $17,155,
respectively.

Meanwhile, Watts Chopping was ordered to make all past-due payments
owed to Ag West Farm Credit, FLCA by May 15.

A final hearing is set for April 30.

                       About Watts Chopping

Watts Chopping operates an agricultural equipment business with
significant holdings in harvesting and farming equipment.

Watts Chopping sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-10505) on February
21, 2025. In its petition, the Debtor reported between $1 million
and $10 million in both assets and liabilities.

Judge Jennifer E. Niemann handles the case.

Leonard K. Welsh, Esq., at the Law Offices of Young Wooldridge, is
the Debtor's legal counsel.




WELLPATH HOLDINGS: Amends Unsecured Claims Pay Details
------------------------------------------------------
Wellpath Holdings, Inc., and certain of its Debtor Affiliates filed
with the U.S. Bankruptcy Court for the Southern District of Texas a
Disclosure Statement for Joint Chapter 11 Plan dated March 12,
2025.

Wellpath is the premier provider of localized, high quality,
compassionate care to vulnerable patients in challenging clinical
environments. Wellpath is the leading medical and mental health
services provider in correctional facilities, inpatient and
residential treatment facilities, forensic treatment facilities,
and civil commitment centers.

Headquartered in Nashville, Tennessee with operations in
approximately 420 facilities across 39 states, Wellpath provides
outsourced solutions to the correctional healthcare and behavioral
healthcare industries. Wellpath offers an array of healthcare
services to its federal, state, and local government partners,
including on-site medical services, telehealth and mental health
programs, and pharmacy management.

The Debtors did not receive any acceptable bids at the conclusion
of the Debtors' bidding process. Consequently, the Debtors
temporarily put the marketing process on hold and pivoted to
negotiating the terms of an in-court restructuring with the Ad Hoc
Group. These negotiations ultimately led to the execution of the
Restructuring Support Agreement, dated November 11, 2024 (the
"Restructuring Support Agreement"), which forms the basis for the
Plan.

The Restructuring Support Agreement provides a flexible structure
that will enable the parties to explore the most value-maximizing
restructuring alternative available. Under the Restructuring
Support Agreement, the Debtors' proposed restructuring has several
components.

     * First, to fund these chapter 11 cases and the processes and
transactions contemplated by the Restructuring Support Agreement,
the Debtors secured access to a debtor-in-possession financing
facility in the aggregate principal amount of $362,250,000
consisting of up to (a) $105,000,000 in new money term loans and
(b) $257,250,000 in "rolled up" prepetition secured loans subject
to adjustment in accordance with the DIP Orders (the "DIP
Facility"). All Prepetition Lenders had the opportunity to
participate in the $105,000,000 new money term loan financing,
which was syndicated following the "first day" hearing in these
chapter 11 cases. The Prepetition Lenders party to the
Restructuring Support Agreement as of the Petition Date agreed to
backstop the new money term loan financing. All Prepetition Lenders
that participated in the new money financing had certain of their
prepetition debt holdings rolled up into the DIP Facility. The
Bankruptcy Court entered the DIP Orders approving the DIP Facility
following negotiations of such orders with the Committee.

     * Second, the Restructuring Support Agreement contemplates an
active, open marketing process for a value maximizing sale for
substantially all or one or more subsets of the Debtors' assets. To
that end, the Bankruptcy Court entered the Bidding Procedures Order
approving the Bidding Procedures for such a sale and certain
related dates and deadlines. The Bidding Procedures provided for a
dual track process that allowed the Debtors flexibility to market
assets associated with the Recovery Solutions Business and the
Corrections Business. Although the Bidding Procedures and the
Restructuring Support Agreement provided for a longer runway for
the sale of the Corrections Business assets, the Bankruptcy Court
approved a faster timeline to market and consummate the sale of the
Recovery Solutions Business assets. Following negotiations with the
Committee, the bid timeline for the sale of the Recovery Solutions
Business assets was subsequently extended twice, for a total
extension of the bid deadline by 24 days.

     * Third, although the Debtors did not receive a Qualified Bid
for the Corrections Business, under the Restructuring Support
Agreement and pursuant to the Plan, the Required Consenting First
Lien Lenders have committed to purchase in a direct private
placement new equity interests in Reorganized Wellpath, subject to
a post-petition marketing process for sale(s) of these assets under
section 363 of the Bankruptcy Code. The Required Consenting First
Lien Lenders party to the Restructuring Support Agreement as of the
Petition Date agreed to backstop the Debtors' proposed equity
financing in respect of Reorganized Wellpath. The Debtors were
unable to enter a sale transaction relating to the Corrections
Business and, as a result, are seeking to confirm and consummate
the Plan (and the Restructuring Transactions contemplated therein)
in accordance with the Restructuring Support Agreement and the
Restructuring Transactions Memorandum.

     * Finally, the Debtors propose an expeditious chapter 11
process that appropriately balances the Debtors' restructuring
goals, the health and safety of their patients, and notice and due
process considerations. It is critical that the Debtors emerge from
these chapter 11 cases as soon as reasonably practicable due to the
nature of their businesses and their vulnerable patient population.
The Debtors believe that consummation of the transactions
contemplated in the Restructuring Support Agreement will ensure
continued operations of their healthcare services, employment of
their physicians, and safety of their patients. The Debtors believe
that any delay puts the well-being of the Debtors’ patients at
risk and increases the likelihood of irreparable harm to the
Debtors' businesses.  

The Plan places Claims and Interests into various Classes and
specifies the treatment of each Class under the Plan:

     * Class 1 (Other Secured Claims): Each Holder of an Allowed
Other Secured Claim shall receive, at the option of the applicable
Debtor or Post-Restructuring Debtor (and in consultation with the
Required Consenting First Lien Lenders): (a) payment in full in
Cash; (b) Reinstatement of such Claim; or (c) such other treatment
rendering such Claim Unimpaired.

     * Class 2 (Other Priority Claims): Each Holder of an Allowed
Other Priority Claim shall receive, at the option of the applicable
Debtor or Post-Restructuring Debtor, with the consent of the
Required Consenting First Lien Lenders, (a) payment in full in
Cash; or (b) such other treatment rendering such Claim Unimpaired.

     * Class 3 (First Lien Secured Claims): Each Holder of an
Allowed First Lien Secured Claim shall receive its Pro Rata share
of (a) 3% of the New Common Equity, subject to dilution on account
of the MIP Interests and (b) $124,213,836.00 of the Takeback
Facility.

     * Class 4 (First Lien Deficiency Claims): Each Holder of an
Allowed First Lien Deficiency Claim shall receive its Pro Rata
share of the beneficial interests in the Liquidating Trust, along
with the Holders of Allowed Second Lien Deficiency Claims in Class
5 and Holders of Allowed General Unsecured Claims in Class 6.
Thereafter, each such Holder shall be paid as set forth in the
Liquidating Trust Agreement.

     * Class 5 (Second Lien Deficiency Claims): Each Holder of an
Allowed Second Lien Deficiency Claim shall receive its Pro Rata
share of the beneficial interests in the Liquidating Trust, along
with the Holders of Allowed First Lien Deficiency Claims in Class 4
and Holders of Allowed General Unsecured Claims in Class 6.
Thereafter, each such Holder shall be paid as set forth in the
Liquidating Trust Agreement.

     * Class 6 (General Unsecured Claims): Each Holder of an
Allowed General Unsecured Claim shall receive its Pro Rata share of
the beneficial interests in the Liquidating Trust along with the
Holders of Allowed First Lien Deficiency Claims in Class 4 and
Holders of Allowed Second Lien Deficiency Claims in Class 5. As of
the Effective Date, the Debtors' liability for all General
Unsecured Claims shall be (i) assumed by the Liquidating Trust
without further act, deed, or Court order and (ii) administered and
paid from the Liquidating Trust as set forth in the Liquidating
Trust Agreement.

The Plan is premised on the administrative consolidation of the
Debtors solely for the purposes of voting on the Plan, tabulating
the votes to determine which Class or Classes have accepted the
Plan, confirming the Plan, and the resulting treatment of all
Claims and Interests and Plan Distributions, but shall not
constitute a transfer of assets or liabilities between Debtors for
any other purpose. Each Debtor shall continue to maintain its
separate corporate existence for all purposes other than the
treatment of Claims and Interests under the Plan.

Class 6 consists of General Unsecured Claims. Each Holder of an
Allowed General Unsecured Claim shall receive its Pro Rata share of
the beneficial interests in the Liquidating Trust along with the
Holders of Allowed First Lien Deficiency Claims in Class 4 and
Holders of Allowed Second Lien Deficiency Claims in Class 5. As of
the Effective Date, the Debtors' liability for all General
Unsecured Claims shall be (i) assumed by the Liquidating Trust
without further act, deed, or Court order and (ii) administered and
paid from the Liquidating Trust as set forth in the Liquidating
Trust Agreement.

The allowed unsecured claims total $260,000,000 to $316,000,000.
Class 6 will receive a distribution of between 0.8% and Unknown.

The Plan provides that the Post-Restructuring Debtors shall
contribute cash in an amount equal to $3,000,000 to the Liquidating
Trust on the Effective Date, which the Liquidating Trustee, at its
election, can use for distributions to Holders of Allowed Claims.
The Plan further provides that the Post Restructuring Debtors shall
(1) contribute cash in an amount equal to $1,000,000 to the
Liquidating Trust on the first anniversary of the Effective Date
and (2) contribute cash in an amount equal to $1,000,000 to the
Liquidating Trust on the second anniversary of the Effective Date.

The Debtors shall fund distributions under the Plan with the
following: (1) the issuance of the New Common Equity, including
through the Equity Financing; (2) the issuance of the Takeback
Facility, the terms of which are reflected in the Takeback Facility
Term Sheet; (3) the interests in the Liquidating Trust Assets; and
(4) Cash on hand.

A full-text copy of the Disclosure Statement dated March 12, 2025
is available at https://urlcurt.com/u?l=cJvZkZ from
PacerMonitor.com at no charge.

Counsel to the Debtors:

     MCDERMOTT WILL & EMERY LLP
     Felicia Gerber Perlman, Esq.
     Bradley Thomas Giordano, Esq.
     Jake Jumbeck, Esq.
     Carole Wurzelbacher, Esq.
     Carmen Dingman, Esq.
     444 West Lake Street, Suite 4000
     Chicago, Illinois 60606-0029
     Telephone: (312) 372-2000
     Facsimile: (312) 984-7700
     Email: fperlman@mwe.com
            bgiordano@mwe.com
            jjumbeck@mwe.com
            cwurzelbacher@mwe.com
            cdingman@mwe.com

     - and -

     MCDERMOTT WILL & EMERY LLP
     Steven Z. Szanzer, Esq.
     One Vanderbilt Avenue
     New York, New York 10017
     Telephone: (212) 547-5400
     Facsimile: (212) 547-5444
     Email: sszanzer@mwe.com

     MCDERMOTT WILL & EMERY LLP
     Marcus A. Helt, Esq.
     2501 N. Harwood Street, Suite 1900
     Dallas, Texas 75201-1664
     Telephone: (214) 295-8000
     Facsimile: (972) 232-3098
     Email: mhelt@mwe.com

                      About Wellpath Holdings

Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc.,
is a provider of medical and mental healthcare in jails, prisons,
and inpatient and residential treatment facilities.

Wellpath Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 24-90533) on Nov. 11, 2024.  Timothy Dragelin, chief
restructuring officer and chief financial officer, signed the
petitions.

At the time of the filing, the Debtors reported $1 billion to $10
billion in assets and liabilities.

Judge Alfredo R. Perez oversees the cases.

The Debtors tapped Marcus A. Helt, Esq. at McDermott Will & Emery,
LLP as bankruptcy counsel; FTI Consulting, Inc., as financial
advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as
investment banker.


WILLIAM H. ZIEGENBALQ: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina issued its second interim order authorizing William H.
Ziegenbalg, V. Agency, LLC to use cash collateral.

The second interim order authorized the company to use cash
collateral until April 23 to pay its operating expenses.

The company's budget projects total operational expenses of
$47,597.51 from March 26 to April 25.

As protection, Lake Forest Bank & Trust Co. and other secured
creditors were granted a replacement lien on and security interest
in all assets of the company.

In addition, Lake Forest Bank will receive payment of $5,571.51.

The next hearing is scheduled for April 23.

              About William H. Ziegenbalg, V. Agency

William H. Ziegenbalg, V. Agency LLC is an insurance agency
specializing in the sale and management of Allstate Insurance
products under an R3001 Agreement.

William H. Ziegenbalg, V. Agency sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-00531) on
February 13, 2025. In its petition, the Debtor reported total
assets of $597,892 and total liabilities of $2,313,083.

Richard P. Cook, Esq., at Richard P. Cook, PLLC is the Debtor's
legal counsel.

Lake Forest Bank & Trust Co., as secured creditor, is represented
by:

     Brian D. Darer, Esq.
     Parker Poe Adams & Bernstein LLP
     301 Fayetteville Street, Suite 1400
     Raleigh, NC 27602
     Telephone: (919) 828-0564
     briandarer@parkerpoe.com


WORLD BRANDS: Creditors to Get Proceeds From Liquidation
--------------------------------------------------------
World Brands, Inc., filed with the U.S. Bankruptcy Court for the
Southern District of Florida a Disclosure Statement for Plan of
Liquidation dated March 12, 2025.

The Debtor, a Florida corporation, is in the business of importing
paper products for bulk shipping. A subsidiary of the Debtor
operated a manufacturing facility in Turkey where the products were
manufactured, and were then imported by the Debtor and sold to the
Debtor's customers.

Previously, the Debtor operated from a warehouse in Hialeah
Gardens, Florida (the "Warehouse") owned by WBI Property, LLC f/k/a
WBI 2814 Mercury Road, LLC ("WBI Property"), and, through a
subsidiary company, WBI-A and WBI Group (the wholly-owned
subsidiary of the Debtor and owner of WBI-A), operated a
manufacturing facility in Turkey where the products were
manufactured using equipment purchased directly or indirectly by
the Debtor, and were then imported by the Debtor and sold to the
Debtor's customers. Following the untimely passing of the Debtor's
principal, the facility in Turkey was sold, leaving the Debtor with
more limited operations.

In August, 2024, WBI Property sold the Warehouse to an unrelated
third party for a sales price of approximately $4.12 million, with
a net sale proceeds, after payment of closing costs and mortgage
debt of approximately $2 million.

Currently, the Debtor has more limited winddown operations, and is
in the process of winding down those operations, and working
through remaining inventory, with the goal of distributing
available funds to its creditors. The net funds from the remaining
liquidation efforts, as well as the funds from the sale of the
Warehouse and the WBI Group shares and equipment in Turkey, will be
distributed as set forth in this Plan.

In broad summary, the Plan provides for (i) the liquidation of the
Debtor's assets in accordance with the Confirmation of the Plan and
(ii) the distribution of the Liquidation Proceeds to Holders of
Allowed Claims. The Plan provides for a compromise between the
Debtor, Regions, and Regions Equipment Finance for the carveout
from the Regions Collateral of sufficient funds to pay
Administrative Expenses, Priority Claims, the Tax Reserve, and the
Liquidation Proceeds Carveout, with the remaining funds being paid
to Regions and Regions Equipment Finance on account of their
Secured Claims.

Class 4 is comprised of all Allowed General Unsecured Claims not
otherwise classified under the Plan. Each Holder of an Allowed
Class 4 General Unsecured Claim shall receive on the Effective
Date, in full and final satisfaction of such Holder's Allowed Class
4 General Unsecured Claim, such Holder's Pro Rata Share of the
Liquidation Proceeds Carveout, such amount to be paid to such
Holder by the Debtor. The procedures for Distributions to Holders
of Allowed General Unsecured Claims in Class 4 shall be in
accordance with Article 9 of the Plan and the Confirmation Order.
Class 4 is Impaired.

Class 5 is comprised of all equity interests in the Debtor, which
are owned by the Sevintuna Estate. The Tax Reserve shall be held in
escrow or paid to the IRS if the IRS has an Allowed Claim against
the Debtor, with any refund rights of the Debtor transferred to
Regions Bank on the Effective Date as part of the Liquidation
Proceeds. The equity interests in the Debtor shall be cancelled,
and the Sevintuna Estate shall not receive any distributions on
account of its equity interests in the Debtor.

The Plan payments will be funded from the Liquidation Proceeds
received from the sale of the Debtor's assets, including the pre
petition liquidation of the assets of WBI Property, WBI-A, and WBI
Group. Administrative Expense Claims shall be paid, Priority Claims
and Priority Tax Claims (if any) shall be paid, the Liquidation
Proceeds Carveout will be used to pay a Pro Rata Share to Holders
of Allowed Class 4 Claims, the Tax Reserve shall be made, and the
remaining proceeds shall be used to pay Regions Bank and Regions
Equipment Finance.

A full-text copy of the Disclosure Statement dated March 12, 2025
is available at https://urlcurt.com/u?l=uP17Fq from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Daniel R. Fogarty, Esq.
     Stichter Riedel Blain & Postler, P.A.
     110 East Madison Street, Suite 200
     Tampa, FL 33602
     Tel: (813) 229-0144
     Email: dfogarty@srbp.com

                         About World Brands

World Brands Inc. focuses on custom printed paper packaging and
provides a diverse selection of products such as clamshells, hot
cups, cold cups, vision boxes, paper bags, wet wipes, kraft trays,
pizza boxes, and hoagie boxes under its own brand. Additionally,
the Company offers private label products, tailored packaging
solutions, and book printing services.

World Brands Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No.: 25-12653) on March 12,
2025. In its petition, the Debtor reports total assets of
$2,357,099 and total Liabilities of $3,692,774.

Honorable Bankruptcy Judge Corali Lopez-Castro handles the case.

The Debtor is represented by Daniel R. Fogarty, Esq. at STICHTER,
RIEDEL, BLAIN & POSTLER, P.A.


YELLOW CORP: Gets Judge Goldblatt's Pension Claims Dispute Guidance
-------------------------------------------------------------------
Randi Love and Steven Church of Bloomberg Law report thatThe judge
handling Yellow Corp.'s bankruptcy issued a 70-page set of
"preliminary observations" in the ongoing dispute over
multi-employer pension plan withdrawal claims.

The guidance was released as Boston-based hedge fund MFN Partners
LP challenges the claims during a tentative settlement between
Yellow and its unsecured creditors.

Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the
District of Delaware stated that, if he were to rule, he would both
partially grant and partially deny the opposing summary judgment
motions.

                     About Yellow Corporation

Yellow Corporation -- www.myyellow.com -- operates logistics and
less-than-truckload (LTL) networks in North America, providing
customers with regional, national, and international shipping
services throughout. Yellow's principal office is in Nashville,
Tenn., and is the holding company for a portfolio of LTL brands
including Holland, New Penn, Reddaway, and YRC Freight, as well as
the logistics company Yellow Logistics.

Yellow Corporation and 23 affiliates concurrently filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 23-11069) on August 6, 2023, before
the Hon. Craig T. Goldblatt. As of March 31, 2023, Yellow Corp. had
$2,152,200,000 in total assets against $2,588,800,000 in total
liabilities. The petitions were signed by Matthew A. Doheny as
chief restructuring officer.

The Debtors tapped Kirkland & Ellis LLP as restructuring counsel;
Pachulski Stang Ziehl & Jones LLP as Delaware local counsel;
Kasowitz, Benson and Torres LLP as special litigation counsel;
Goodmans LLP as special Canadian counsel; Ducera Partners LLC as
investment banker; and Alvarez and Marsal as financial advisor.Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Milbank LLP serves as counsel to certain investment funds and
accounts managed by affiliates of Apollo Capital Management, L.P.

White & Case LLP serves as counsel to Beal Bank USA.

Arnold & Porter Kaye Scholer LLP serves as counsel to the United
States Department of the Treasury.

On August 16, 2023, the United States Trustee for Region 3
appointed an official committee of unsecured creditors in these
Chapter 11 cases. The committee tapped Akin Gump Strauss Hauer &
Feld LLP and Benesch, Friedlander, Coplan & Aronoff LLP as counsel;
Miller Buckfire as investment banker; and Huron Consulting Services
LLC as financial advisor.


YIHE FORBES: Seeks Chapter 11 Bankruptcy in California
------------------------------------------------------
On April 3, 2025, Yihe Forbes LLC filed Chapter 11 protection in
the U.S. Bankruptcy Court for the Central District of California.
According to court filing, the Debtor reports $13,540,869 in
debt owed to 1 and 49 creditors. The petition states funds will be
available to unsecured creditors.

           About Yihe Forbes LLC

Yihe Forbes LLC owns four properties in Chelsea, MA, with a
combined current value of $22.98 million.

Yihe Forbes LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-12772) on April 3,
2025. In its petition, the Debtor reports total assets of
$22,978,50 and total liabilities of $13,540,869.

Honorable Bankruptcy Judge Neil W. Bason handles the case.

The Debtor is represented by Richard Baum, Esq.


YOUR BATH: Lisa Rynard Named Subchapter V Trustee
-------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Lisa Rynard, Esq.,
at the Law Office of Lisa A. Rynard as Subchapter V trustee for
Your Bath & Kitchen, LLC.

Ms. Rynard will be paid an hourly fee of $325 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Ms. Rynard declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Lisa A. Rynard, Esq.
     Law Office of Lisa A. Rynard
     240 Broad Street
     Montoursville, PA 17754
     Phone: (570) 505-3289
     Email: larynard@larynardlaw.com

                     About Your Bath & Kitchen

Your Bath & Kitchen, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-00634) on March
11, 2025, listing up to $500,000 in assets and up to $1 million in
liabilities. Gregory Clouser, a member of Your Bath & Kitchen,
signed the petition.

Judge Henry W. Van Eck oversees the case.

Craig A. Diehl, Esq., at Law Offices of Craig A. Diehl, represents
the Debtor as bankruptcy counsel.


ZION INC: Faces $7.34M Net Loss in 2024, Issues Profit Warning
--------------------------------------------------------------
Zion Oil & Gas, Inc. filed its Annual Report on Form 10-K with the
Securities and Exchange Commission, reporting a net loss of $7.34
million for the year ending Dec. 31, 2024, an improvement over the
$7.96 million loss reported for 2023.  The Company also stated that
it cannot guarantee future profitability.

Currently, the Company is not generating any revenue or operating
income.  According to the Company, its ability to generate future
revenues and operating cash flow will depend on the successful
exploration and exploitation of current and any future petroleum
rights or the acquisition of oil and/or gas producing properties,
and the volume and timing of such production.  In addition, even if
the Company is successful in producing oil and gas in commercial
quantities, its results will depend upon commodity prices for oil
and gas, as well as operating expenses including taxes and
royalties.

As of Dec. 31, 2024, the Company reported total assets of $31.79
million, total liabilities of $3.41 million, and stockholders'
equity of $28.38 million.  The Company's cash and cash equivalents
stood at approximately $2.27 million, a significant increase from
$615,000 at Dec. 31, 2023.  Its working capital (current assets
minus current liabilities) improved to $1.70 million at Dec. 31,
2024, compared to a deficit of $349,000 at the end of 2023.  As of
Dec. 31, 2024, the Company had an accumulated deficit of
approximately $293.9 million.

In its report dated March 27, 2025, the Company's auditor RBSM LLP,
issued a "going concern" qualification citing that the Company has
suffered recurring losses from operations and had an accumulated
deficit that raises substantial doubt about its ability to continue
as a going concern.

Zion Oil stated that its ability to continue as a going concern is
contingent upon securing the necessary financing to support further
exploration and development activities, as well as generating
profitable operations from its oil and natural gas interests in the
future.  Currently, the Company's operations rely on the adequacy
of its existing assets to meet its expenditure requirements, along
with the accuracy of management's estimates of those requirements.
If these estimates are materially inaccurate, the Company's ability
to continue as a going concern could be at risk.

"To carry out planned operations, the Company must raise additional
funds through additional equity and/or debt issuances or through
profitable operations," the Company indicated.  "There can be no
assurance that this capital or positive operational income will be
available to the Company, and if it is not, the Company may be
forced to curtail or cease exploration and development
activities."

The complete text of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1131312/000143774925009623/znog20241231_10k.htm

                         About Zion Oil

Headquartered in , Dallas, TX, Zion Oil and Gas, Inc. --
www.zionoil.com -- is an oil and gas exploration company dedicated
to exploring for oil and gas onshore in Israel under its Megiddo
Valleys License 434 which covers approximately 75,000 acres.


ZION OIL: CFO Croswell Takes on President Role, Kness Appointed COO
-------------------------------------------------------------------
Zion Oil & Gas, Inc. filed a Form 8-K with the Securities and
Exchange Commission, announcing that effective April 2, 2025,
Michael B. Croswell Jr., age 54, was appointed president while
continuing his role as chief financial officer.  Mr. Croswell
joined Zion in April 2011 as corporate controller and was later
promoted to CFO in August 2016.  He is a corporate accounting and
management professional with a broad range of industry experience.
A Certified Public Accountant since 1997, Mr. Croswell earned a
Bachelor of Business Administration degree in accounting from
Stephen F. Austin State University in 1994 and an MBA from the
University of Dallas in 2013.

As part of Zion's succession plan, William Avery, age 77, stepped
down from his interim position as president effective April 2,
2025, while continuing his full-time position as general counsel.

In connection with his promotion to president, Mr. Croswell will
receive a new employment agreement.  The initial term of the
agreement will begin on the effective date and continue through
Dec. 31, 2025.  Following the initial term, the agreement will
automatically renew for successive one-year terms, unless either
the Company or Mr. Croswell provides written notice of its
intention not to renew, at least 30 days prior to the expiration of
the initial term or any renewal term.  Under the agreement, Mr.
Croswell is paid an annual salary of $275,000.  The Company will
also grant fully vested options to purchase 25,000 shares of common
stock, with an exercise price per share equal to the fair market
value on the 5th day of January of each successive renewal term.

      Appointment of Monty Kness as Chief Operating Officer

Effective April 2, 2025, Mr. Monty Kness, age 43, was appointed as
the chief operating officer.  Mr. Kness joined Zion Oil in 2020,
where he oversees all operations, logistics, procurement, and
personnel for oil and gas exploration activities.  A 2004 graduate
of TCU, Mr. Kness began his career in the oil and gas industry in
2005 as an HSE advisor, working primarily in the lower 48 states
and Alaska.  In 2007, he transitioned into operations, gaining
further experience in upstream services.  In 2009, Mr. Kness
accepted the role of Operations Manager for Viking International,
LTD, and relocated to Turkey.  During his tenure with Viking, he
oversaw the start-up and development of seismic crews in Turkey and
Poland, completing numerous 2D and 3D projects.  Additionally, he
worked in Iraq, Eastern Europe, and Western Africa, fulfilling
various operational roles within Viking's integrated service line,
including building and implementing management systems for
operations, safety, and quality control.

In connection with his promotion to chief operating officer, Mr.
Kness will be governed by an Employment Agreement.  Dated April 2,
2025, the agreement provides a salary at an annual rate of
US$220,000, along with other employee benefits.  The agreement also
grants Mr. Kness fully vested options to purchase 25,000 shares of
common stock, with the exercise price per share set at the fair
market value on the 5th day of January of each successive renewal
term.

Mr. Croswell and Mr. Kness are not involved in any other
significant plans, contracts, or arrangements with the Company, and
none of their existing agreements have been changed as a result of
their promotions mentioned above.  Additionally, Mr. Croswell and
Mr. Kness do not have any family relationships or related
transactions with the Company that would need to be disclosed under
the relevant regulations in connection with their promotions.

                            About Zion Oil

Headquartered in , Dallas, TX, Zion Oil and Gas, Inc. --
www.zionoil.com -- is an oil and gas exploration company dedicated
to exploring for oil and gas onshore in Israel under its Megiddo
Valleys License 434 which covers approximately 75,000 acres.

In its report dated March 27, 2025, the Company's auditor RBSM LLP,
issued a "going concern" qualification citing that the Company has
suffered recurring losses from operations and had an accumulated
deficit that raises substantial doubt about its ability to continue
as a going concern.

The Company incurred net losses of $7,343,000 for the year ended
Dec. 31, 2024, and $7,957,000 for the year ended Dec. 31, 2023.
The Company cannot guarantee that it will ever achieve
profitability.


ZOYA AB MANAGEMENT: Sec. 341(a) Meeting of Creditors on May 12
--------------------------------------------------------------
On April 1, 2025, Zoya AB Management LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District
of New York. According to court filing, the
Debtor reports $689,000 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 12,
2025 at 03:30 PM at Telephonic Meeting: Phone 1 (877) 953-2748,
Participant Code 3415538#.

           About Zoya AB Management LLC

Zoya AB Management LLC is the owner of the property at 355 Kings
Highway, Unit 5F, Brooklyn, NY 11223, which has an estimated value
of $1.04 million.

Zoya AB Management LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41607) on April 1,
2025. In its petition, the Debtor reports total assets of
$1,040,400 and total liabilities of $689,000.

Honorable Bankruptcy Judge Elizabeth S. Stong handles the case.

The Debtor is represented by Alla Kachan, Esq. at LAW OFFICES OF
ALLA KACHAN, P.C.


                            *********

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