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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

              Thursday, May 1, 2025, Vol. 29, No. 120

                            Headlines

10831 PHELAN: Seeks to Sell Assets in Auction
23ANDME HOLDING: Agrees to Consumer Privacy Watchdog in Chapter 11
ACCRX INC: Case Summary & 14 Unsecured Creditors
AH KEENE: Faces Possible Receivership After Defaulting $19MM Loan
AKOUSTIS TECHNOLOGIES: $39MM Ch. 11 Asset Sale Exclude Trade Secret

AMYNTA HOLDINGS: S&P Upgrades LT ICR to 'B', Outlook Stable
APHEX HOLDINGS: Court OKs Commercial Property Sale to Always Sunny
ASCEND PERFORMANCE: Moody's Cuts CFR to 'Ca' Amid Bankruptcy Filing
AXIS OILFIELD: Case Summary & 20 Largest Unsecured Creditors
BALDWIN INSURANCE: Moody's Alters Outlook on 'B2' CFR to Stable

BARRETTS MINERALS: Defeats Creditors' Chapter 11 Case Dismissal Bid
BERTUCCI'S RESTAURANTS: Closes 4 Mass. Locations in Chapter 11
BLABLMBTQ LLC: Gets Interim OK to Use Cash Collateral
CANNABITION LLC: Seeks Chapter 11 Bankruptcy in Nevada
CAROLINA PROUD: Hires Steve Platz Realty as Sales Agent

CAROLINA'S CONTRACTING: Case Summary & 20 Top Unsecured Creditors
CARROLLTON GATEWAY: Hires Holmes Firm PC as Special Counsel
CARRUTH COMPLIANCE: Hires Kim Albert CPA P.C. as Accountant
CATHOLIC FAITH: U.S. Trustee Unable to Appoint Committee
CENTENNIAL HOUSING: Unsecureds Owed $10K+ to Recover 12% of Claims

CENTURY ALUMINUM: Egan-Jones Hikes Senior Unsecured Ratings to B+
CHICKEN SOUP: Reaches Mismanagement Suit Settlement with Investor
CONSOLIDATED BURGER: Hires Peak Franchise as Investment Banker
CPIF LA ARTS: Hires Levene Neale Bender as Bankruptcy Counsel
CROSSWIND RANCH: Hires Tittle Law Firm PLLC as Counsel

CWB REALTY: Gets Interim OK to Use Cash Collateral
DECATUR, AR: S&P Cuts 2022 Refunding Bond Rating to 'BB+'
DEQSER LLC: Court OKs DIP Loan From CSV Capital
DMK PHARMACEUTICALS: Drug Overdose Lawsuit Proceeds in Ch. 11 Case
DORMIFY INC: Google Dispute Delays Chapter 11 IP Asset Sale

EAGLEVIEW TECHNOLOGY: S&P Assigns 'CCC+' ICR, Outlook Stable
EPIC SMOKEHOUSE: Case Summary & 20 Largest Unsecured Creditors
EXPEDITED TAXI: Hires Law Office of Alla Kachan PC as Counsel
EXPEDITED TAXI: Seeks to Hire Estelle Miller as Accountant
EYM PIZZA: Court OKs Pizza Business Property Sale at Auction

F21 OPCO: Objects to Vendors' Debt Claims in Chapter 11 Case
F21 OPCO: Unsecureds Will Get 0.19% to 0.46% of Claims in Plan
FIRST CLASS: To Sell Trailers to Multiple Buyers
FOUR HATS: Seeks to Hire Jones & Walden LLC as Counsel
FREE SPEECH: Alex Jones Seeks Restart of Infowars Assets Auction

FTX TRADING: Ch. 11 Trust Wants to Keep Customer Data Confidential
GEDEN HOLDINGS: Chapter 15 Case Summary
GERMANIA FARM: A.M. Best Affirms B(Fair) Fin. Strength Rating
GOAL POINT: Hires Boyer Terry LLC as Bankruptcy Counsel
GOOD TO GO: Case Summary & 11 Unsecured Creditors

HEALTHLYNKED CORP: Posts $6.1M Net Loss in 2024, up 506% From 2023
HILLENBRAND INC: Egan-Jones Retains BB+ Senior Unsecured Ratings
HYPERTECH INC: Seeks to Hire EmergeLaw PLC as Bankruptcy Counsel
I A P CONSTRUCTION: Hires David R. Herzog LLC as Counsel
IDEANOMICS INC: Hires Doeren Mayhew as Tax Service Provider

INTEGRATED CARE: Hires Martin Starnes & Associates as Auditor
J.D. SAC CONSULTING: Gets OK to Use Cash Collateral Until May 20
JBRI CONSTRUCTION: Gets Extension to Access Cash Collateral
JML ENGINEERING: Unsecured Creditors to Split $60K over 5 Years
JOE'S SPORTS: Gets Final OK to Use Cash Collateral

JUXTAPOSE HOSPITALITY: Seeks Subchapter V Bankruptcy in Georgia
KAISER GYPSUM: 4tn Circ. Okays Asbestos Chapter 11 Plan
KENTUCKY INVESTMENT: Seeks Subchapter V Bankruptcy
KINA LANE: Seeks to Hire Billion Law as Bankruptcy Counsel
KOCHER FOODS: Hires Johnson Legal Services PLLC as Counsel

KOGNITIV US: U.S. Trustee Unable to Appoint Committee
KOSMOS ENERGY: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable
KYLE CHAPMAN: Files Amendment to Disclosure Statement
KYTTO ENTERPRISE: Taps Luis R. Carrasquillo as Financial Consultant
LAS VEGAS SANDS: S&P Rates Proposed Senior Unsecured Notes 'BB+'

LEISURE INVESTMENTS: CEO Refutes Armed Takeover Claims
LIBERTY TRIPADVISOR: Shareholders OK Merger Plan at Special Meeting
LILY616 LLC: Hires Law Offices of Mickler & Mickler as Attorney
LOCALS ONLY: Gets Interim OK to Use Cash Collateral Until May 22
LOZO ENTERPRISES: Seeks Subchapter V Bankruptcy in Pennsylvania

MANA GROUP: Hires Mullin Hoard & Brown LLP as Counsel
MIDCAP FINANCIAL: Moody's Alters Outlook on 'Ba3' CFR to Positive
MIRACLE RESTAURANT: Court Extends Cash Collateral Access to May 14
MRC GLOBAL: S&P Alters Outlook to Positive, Affirms 'B' ICR
NATUROMULCH LLC: Taps Durand & Associates as Legal Counsel

NAUTICA'S EDGE: Seeks Subchapter V Bankruptcy in Georgia
NEBRASKA BREWING: Case Summary & 20 Largest Unsecured Creditors
NEPHRITE FUND 1: Amends Unsecured Claims Pay Details
NIKOLA CORP: Seeks $9MM Climate-Credit Sale Process Court Approval
NISSAN MOTOR: Fitch Lowers LongTerm IDR to 'BB', Outlook Negative

NORTH AMERICAN SEALING: Gets Interim OK to Use Cash Collateral
ONDAS HOLDINGS: Settles $34.5M Notes, Reduces Note Debt to $21.1M
PACIFIC PRAIRIE: Seeks Cash Collateral Access
PALWAUKEE HOSPITALITY: Cash Collateral Access Extended to May 16
PAP-R PRODUCTS: Hires Hoeman Capital as Financial Consultant

PB RESTAURANTS: Seeks to Hire Shuker & Dorris P.A. as Counsel
PCP GROUP: Claims to be Paid From Available Cash and Income
PERFORMANCE MOBILE: Seeks to Hire SingerLewak LLP as Accountant
PETCO HEALTH: S&P Affirms 'B' ICR, Outlook Negative
PHILLIPS TOTAL: Hires Newpoint Advisors as Financial Advisor

PRESPERSE CORPORATION: Taps Covington & Burling as Special Counsel
PUBLISHERS CLEARING: U.S. Trustee Appoints Creditors' Panel
RAGI GI: Gets Final OK to Use Cash Collateral
RONALD JINSKY: Seeks to Hire Krekeler Law,S.C. as Counsel
ROOSEVELT UNIVERSITY: Moody's Affirms B2 Issuer & Rev. Bond Ratings

ROVER PROPERTIES: Court Extends Cash Collateral Access to May 30
RYERSON HOLDING: Moody's Alters Outlook on 'Ba3' CFR to Negative
SASH GROUP: Seeks to Hire RHM Law as General Bankruptcy Counsel
SCANROCK OIL & GAS: Submits Chapter 11 Plan
SELECTIS HEALTH: Ongoing Losses Put Co.'s Future in Jeopardy

SILGAN HOLDINGS: Egan-Jones Retains BB Senior Unsecured Ratings
SKYWEST INC: Egan-Jones Retains B Senior Unsecured Ratings
SUMMIT BEHAVIORAL: Moody's Cuts CFR to 'Caa1', Outlook Stable
SUNNOVA ENERGY: In Talks to Get Funding for Possible Bankruptcy
TGP HOLDINGS III: Moody's Alters Outlook on 'Caa1' CFR to Negative

TULSA MUNICIPAL: Fitch Rates New Special Facility Bonds 'B+'
TZADIK RAPID: Case Summary & 20 Largest Unsecured Creditors
VOYAGER PARENT: S&P Assigns 'B' ICR, Outlook Positive
WASKOM BROWN: Gets Court OK to Use Cash Collateral
WATER ENERGY: U.S. Trustee Unable to Appoint Committee

WEST DEPTFORD: Moody's Affirms Caa1 Rating on Credit Facilities
WYNDSTON MILLWORK: Case Summary & 20 Largest Unsecured Creditors
YANKE CONSTRUCTION: Gets Final OK to Use Cash Collateral
YELLOW CANOE: Gets Final OK to Use Cash Collateral
YELLOW CORP: Includes Non-Joint & Several Unsecured Claims Pay

YOHMAN LANDSCAPING: Gets Interim OK to Use Cash Collateral
ZIGI USA: Unsecureds Will Get 30% to 45% of Claims in Plan
[] Giovanni Angles to Join Sequor Law's Arbitration Practice

                            *********

10831 PHELAN: Seeks to Sell Assets in Auction
---------------------------------------------
10831 Phelan Blvd LLC and its affiliates seek permission from the
U.S. Bankruptcy Court for the Eastern District of Texas, Sherman
Division, to sell Asserts and the assignment of leases, free and
clear of liens, interests, and encumbrances.

The Debtors employ Robert Hunziker as their broker and launch a
marketing process designed to solicit proposals for one or more
potential sales of al, substantially all, or any portion of the
Debtors' Assets.

The Debtors and the Broker are conducting an open process for the
solicitation, receipt, and evaluation of bids in a fair,
accessible, and expeditious manner, designed to generate the
highest or otherwise best available recoveries to the Debtors'
stakeholders by encouraging prospective bidders to submit
competitive, value-maximizing bids.

The Broker's Marketing Process promotes active bidding among
interested parties and maximizes the value of the Assets for the
benefit of the Debtors' estates.

To maximize the value received for the Assets, the Debtors seek to
close the Transaction as soon as possible after the Sale Hearing.

The Debtors further reserve the right to seek approval of a
stalking horse to serve as a committed buyer of some or all of the
Assets prior to the Sale Hearing, and may also recommend to the
Court certain bid protections for a Stalking Horse Bidder to be
approved.

                About 10831 Phelan Blvd LLC

10831 Phelan Blvd LLC is a limited liability company.

10831 Phelan Blvd LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-40457) on February
21, 2025. In its petition, the Debtor reports estimated assets up
to $50,000 and estimated liabilities between $10 million and
$50,000.

The Debtor is represented by Howard Marc Spector, Esq., at SPECTOR
& COX, PLLC.


23ANDME HOLDING: Agrees to Consumer Privacy Watchdog in Chapter 11
------------------------------------------------------------------
Steven Church of Bloomberg News reports that bankrupt DNA testing
firm 23andMe has consented to the appointment of a court-approved
data privacy ombudsman to oversee the potential sale of customer
genetic data as part of its bankruptcy case.

The decision is seen as a victory for federal and state regulators,
who maintained that an independent privacy advocate would offer
stronger protections than the "data representative" the company
initially proposed. U.S. Bankruptcy Judge Brian Walsh approved the
ombudsman, who will be responsible for determining whether any sale
of genetic data complies with federal law and serves the best
interests of customers, according to Bloomberg News.     

                      About 23andMe

23andMe is a genetics-led consumer healthcare and biotechnology
company empowering a healthier future. Through its
direct-to-consumer genetic testing, 23andMe offers personalized
insights into ancestry, genetic traits, and health risks. The
Company has developed a large database of genetic information from
over 15 million customers, enabling it to provide health and
carrier status reports and collaborate on genetic research for drug
development. On the Web: http://www.23andme.com/      

On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors
each filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No.
25-40976).

The Company disclosed $277,422,000 in total assets against
$214,702,000 in total liabilities as of Dec. 31, 2024.

Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis &
Bockius LLP; and Carmody MacDonald PC are serving as legal counsel
to 23andMe and Alvarez & Marsal North America, LLC as restructuring
advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter
LLP are serving as special local counsel, investment banker, and
legal advisor to the Special Committee of 23andMe's Board of
Directors, respectively. Reevemark and Scale are serving as
communications advisors to the Company. Kroll is the claims agent.


ACCRX INC: Case Summary & 14 Unsecured Creditors
------------------------------------------------
Debtor: ACCRX, Inc.
          ACC Apothecary
        153 California Street
        Newton, MA 02458

Business Description: ACCRX, Inc. operates ACC Apothecary, a
                      compounding pharmacy based in Newton,
                      Massachusetts, specializing in customized
                      medications for patients and providers,
                      including treatments in pain management,
                      hormone therapy, sports medicine,
                      pediatrics, and veterinary care.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       District of Massachusetts

Case No.: 25-10851

Judge: Hon. Christopher J Panos

Debtor's Counsel: Marques Lipton, Esq.
                  LIPTON LAW GROUP, LLC
                  945 Concord Street
                  Framingham MA 01701
                  Phone: (508) 202-0681
                  E-mail: marques@liptonlg.com

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

Estimated Liabilities: $1 million to $10 million

Arthur Margolis signed the petition in his capacity as company
president.

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/ZFWZ7NI/ACCRX_Inc__mabke-25-10851__0001.0.pdf?mcid=tGE4TAMA


AH KEENE: Faces Possible Receivership After Defaulting $19MM Loan
-----------------------------------------------------------------
Ethan Weston of The Keene Sentinel reports that the operator of
American House Keene, a 109-unit senior living facility in New
Hampshire, is facing legal action after defaulting on a $19 million
loan, according to court filings in Cheshire County Superior
Court.

According to The Keene Sentinel, BCWPB LLC, the loan holder, is
seeking the appointment of a receiver to manage the property after
AH Keene LLC—an affiliate of American Home Management Co.
LLC—failed to repay a loan that matured in December 2023. Court
documents show that $18.8 million remains outstanding, along with
about $500,000 in unpaid property taxes. Despite the legal
proceedings, American House President Jeff Floyd said the facility
is financially stable and residents and staff are not at risk.
"There's no impact on our community's operations or employment," he
stated.

BCWPB, rather than pursuing foreclosure, is requesting a receiver
to minimize disruption to the facility's elderly residents and
staff. A court hearing is scheduled for April 25, 2025. The
property, formerly Bentley Commons, was acquired in 2018 by Black
Salmon in partnership with American House Senior Living
Communities, which owns or operates over 60 communities
nationwide.

Floyd said rising interest rates have complicated refinancing
efforts but added that management is actively seeking solutions and
expects resolution soon.

                   About AH Keene LLC

AH Keene LLC is the operator of American House Keene, a 109-unit
senior living facility in New Hampshire.


AKOUSTIS TECHNOLOGIES: $39MM Ch. 11 Asset Sale Exclude Trade Secret
-------------------------------------------------------------------
Emlyn Cameron of Law360 Bankruptcy Authority reports that rRadio
frequency filter manufacturer Akoustis Technologies informed a
Delaware court that it should be permitted to proceed with its
planned asset sales, stating that concerns over the inclusion of
trade secrets have been resolved through a "cleansing" process.

                About Akoustis Technologies

Akoustis Technologies, Inc. -- http://www.akoustis.com/-- is a
high-tech BAW RF filter solutions company that is pioneering
next-generation materials science and MEMS wafer manufacturing to
address the market requirements for improved RF filters --
targeting higher bandwidth, higher operating frequencies and
higher
output power compared to legacy polycrystalline BAW technology. The
Company utilizes its proprietary and patented XBAW(R) manufacturing
process to produce bulk acoustic wave RF filters for mobile and
other wireless markets, which facilitate signal acquisition and
accelerate band performance between the antenna and digital back
end. Superior performance is driven by the significant advances of
poly-crystal, single-crystal, and other high purity piezoelectric
materials and the resonator-filter process technology which enables
optimal trade-offs between critical power, frequency and bandwidth
performance specifications.

Akoustis owns and operates a 125,000 sq. ft. ISO-9001:2015
registered commercial wafer-manufacturing facility located in
Canandaigua, NY, which includes a class 100 / class 1000 cleanroom
facility -- tooled for 150-mm diameter wafers -- for the design,
development, fabrication and packaging of RF filters, MEMS and
other semiconductor devices. Akoustis is headquartered in the
Piedmont technology corridor near Charlotte, North Carolina.

Akoustis and three affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 24-12796) on Dec. 16, 2024. Akoustis
disclosed $53,371,000 in total assets against $122,586,000 in total
debt as of Sept. 30, 2024.

The Hon. Laurie Selber Silverstein is the case judge.

The Debtors tapped K&L Gates, LLP as bankruptcy counsel; Landis
Rath & Cobb, LLP as local counsel. Raymond James & Associates, Inc.
as investment banker; Getzler Henrich & Associates, LLC as
financial advisor; and C Street Advisory Group as strategic
communications advisor. Stretto is the claims agent and has
launched the page https://cases.stretto.com/Akoustis.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.


AMYNTA HOLDINGS: S&P Upgrades LT ICR to 'B', Outlook Stable
-----------------------------------------------------------
S&P Global Ratings raised its long-term issuer credit rating on
Amynta Holdings LLC (Amynta) and its issue ratings on its revolver
and first-lien term loan to 'B' from 'B-'; the recovery ratings
remain '3', indicating its expectation of meaningful recovery
(50%-70%; rounded estimate: 50%) of principal in the event of
default.

The stable outlook reflects S&P's expectation that Amynta will
continue to demonstrate favorable performance trends and maintain
credit metrics within its current rating thresholds.

Amynta has demonstrated continued improvements to its credit
metrics, driven by supportive capital management actions and
healthy earnings growth.

The upgrade reflects Amynta's materially improved EBITDA interest
coverage, which has resulted in a credit profile commensurate with
a 'B' rating.

Amynta's S&P Global Ratings-adjusted leverage was about 6.1x at
year-end 2024, a solid improvement from about 6.6x a year ago that
reflects robust earnings growth and minimal incremental debt. While
Amynta's leverage has been within S&P's previous upside trigger of
below 7.0x for the last couple of years, its S&P Global
Ratings-adjusted EBIDTA interest coverage in the mid-1x area was a
negative outlier among peers and constrained our view of the
company's financial risk profile.

However, over the past year, the company executed several capital
management actions aimed at reducing its overall interest burden,
including refinancing expensive second-lien debt, obtaining better
pricing terms for its first-lien facilities, and entering various
interest rate hedging contracts. Coupled with healthy earnings
growth and a generally prudent approach to funding merger and
acquisition (M&A) activity, Amynta's coverage meaningfully improved
to above 2.0x in 2024, leading to a credit profile that is now more
in line with peers rated 'B'.

S&P said, "While we think modest releveraging is a possibility over
the next year, we expect Amynta to maintain relatively stable
credit metrics with sufficient downside cushion. In addition to
driving continued and enduring improvements to interest coverage,
we expect Amynta's overall lower cost of capital to support cash
flow generation, which will likely be deployed toward ongoing
internal investments and M&A. We believe M&A activity will remain
opportunistic and more episodic in nature through 2026, and we
expect future potential deals will largely be similar to recently
completed transactions that have not required material
releveraging.

"However, in our view, Amynta's financial-sponsor ownership limits
the likelihood for leverage to further improve meaningfully below
6.0x on a sustained basis. Accordingly, absent any large or
transformative debt-funded M&A beyond our base-case forecast, we
think there is a reasonable possibility to see a dividend recap in
the next 12 months such that leverage remains in the mid-6x area.
Furthermore, considering the company's recent capital management
actions along with our expectations for steady earnings growth and
gradual reductions in benchmark rates, we expect coverage to remain
above 2.0x on a sustained basis.

"We expect Amynta to demonstrate favorable performance on continued
momentum in its core managing general (MGA) segment and gradually
improving trends in vehicle warranty. Amynta reported total organic
growth of 11% in 2024, as robust performance in its MGA and
specialty businesses more than offset declines in its warranty
segment. Notably, Amynta's MGA business had robust organic growth
of 18%, primarily driven by solid exposure growth and new business
production. With additional contribution from prior acquisitions,
including higher volumes in certain lines of business acquired from
the Ambridge Group platform in 2023, Amynta's MGA segment now
represents nearly 75% of total net revenue (versus roughly 67% last
year)."

Market conditions remained generally unfavorable and weighed on
Amynta's warranty segment, which modestly declined by about 6% in
2024. In its vehicle warranty business, new deals and increased
unit sales drove underlying fee growth. However, this was mostly
offset by lower profit sharing related to higher-than-expected loss
cost inflation, which in turn was primarily due to rising repair
and labor costs. S&P said, "While volume trends seem to be
stabilizing and are showing signs for further improvement, we think
higher loss cost inflation and ongoing tariff-related uncertainties
will continue to pressure overall results in the near-term.
Furthermore, we think the company's smaller consumer warranty
business will continue to face headwinds and modestly decline over
the next year, as consumer spending remains weak amid persistently
challenging macroeconomic conditions."

S&P said, "Nevertheless, we expect continued strong performance in
the company's core MGA business to more than offset pressures
stemming from its warranty business, which we believe remains
well-positioned to benefit from a potential recovery in market
conditions. We also believe ongoing internal investments and
natural operating leverage will provide steady lift to earnings and
margins, which we expect to result in credit metrics commensurate
with the current rating.

"The stable outlook reflects our expectation that Amynta will
maintain favorable performance trends over the next 12 months,
driven by continued strength in its core MGA operations and a
gradual return to growth in its warranty business. While we believe
modest releveraging may be possible over the next year in
connection to a potential shareholder dividend or M&A activity, we
expect credit metrics to remain well within the bounds of our
current ratings, supported by healthy earnings growth and generally
prudent financial policy decisions.

"We may consider a downgrade over the next 12 months if earnings
and overall performance deteriorate such that we expect leverage
above 7.0x and interest coverage materially below 2.0x on a
sustained basis." This could occur due to:

-- Revenue declines from lost market share and unfavorable new
business and retention trends;

-- Margin contraction stemming from worse-than-expected
macroeconomic conditions and unforeseen operational challenges; or

-- A more aggressive financial policy.

S&P said, "While unlikely over the next 12 months, we may consider
an upgrade if Amynta materially exceeds our performance
expectations or adopts a more conservative financial policy, such
that we expect it will sustain leverage well below 5.0x and
coverage above 3.0x. This would also have to be supported by
continued improvements to scale, diversification, and operational
efficiency."



APHEX HOLDINGS: Court OKs Commercial Property Sale to Always Sunny
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
Fort Lauderdale Division, has granted Aphex Holdings Inc. to sell
commercial property, free and clear of liens, interests, and
encumbrances.

The Court has granted the Debtor to sell commercial real property
located at 2960 SW 23rd Terrace, Suites 107 and 108, Dania
Beach, Florida to Always Sunny Retailing LLC for the purchase price
of $1,150,000.00.

The Property being sold is encumbered by a mortgage held by DSTZ,
LLC in the original principal amount of $750,000.00. The Mortgage
is a blanket mortgage that also encompasses a second property owned
by the Debtor located at 3580 SW 30 Avenue, Hollywood, Florida
33312. To date, DSTZ, LLC has not filed a Proof of Claim.

The Court has determined that the Debtor represented that this is
the highest and best offer it believes it can receive for the
Property.

The Court held that the sale of the Property shall be free and
clear of liens and partial releases, if
necessary, shall be recorded as part of the closing.

The Debtor is authorized and directed to execute any and all
documents necessary to affect the sale transaction promptly and to
take all other actions necessary to sell and convey the Property to
Always Sunny.

                About Aphex Holdings Inc.

Aphex Holdings is the fee simple owner of the real property located
at 2960 SW 23 Terrace #107 & #108, Dania Beach FL 33312 valued at
$850,000 and another real property located at 3580 & 3590 SW 30
Avenue, Hollywood, FL 33312 valued at $3 million.

Aphex Holdings, Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
24-19588) on September 18, 2024, listing $3,850,173 in assets and
$5,360,000 in liabilities. The petition was signed by Bryan Hacht
as owner.

Judge Peter D. Russin presides over the case.

Craig I. Kelley, Esq., at Kelley Kaplan & Eller, PLLC, is the
Debtor's counsel.


ASCEND PERFORMANCE: Moody's Cuts CFR to 'Ca' Amid Bankruptcy Filing
-------------------------------------------------------------------
Moody's Ratings downgraded Ascend Performance Materials Operations
LLC's ("Ascend") corporate family rating to Ca from Caa2, its
probability of default rating to D-PD from Caa2-PD, its Backed
Super Priority Senior Secured Term Loan rating to Caa3 from Caa1,
and its Backed Junior Priority Senior Secured Term Loan B rating to
C from Caa2. The outlook was changed to stable from negative.      
         

This action reflects Ascend's filing for Chapter 11 bankruptcy
protection. Governance considerations are material to the rating
action because of Ascends' high debt leverage, negative free cash
flow generation, and significantly constrained liquidity sources.
The downgrades also reflect Moody's views of diminished estimated
recoveries.

RATINGS RATIONALE

On April 21, 2025, Ascend commenced Chapter 11 process in the US
Bankruptcy Court for the Southern District of Texas. The Chapter 11
process is limited to Ascend's entities located in the US while its
subsidiaries that are located outside of the US are not included in
the Chapter 11 filings according to its announcement. Ascend
expects to operate as usual during the restructuring process and to
emerge from Chapter 11 on an expedited basis. The chapter 11 filing
follows Ascend's weak business and financial performance in the
past two years, untenable capital structure, and large negative
free cash flows that have led to significant challenges to
refinance its debts.

Subsequent to the action, Moody's will withdraw all the Ascend's
ratings. Please refer to Moody's Ratings' Withdrawal of Credit
Ratings Policy, available on Moody's websites,
https://ratings.moodys.com, for more information.


Ascend Performance Materials Operations LLC ("Ascend") is an
integrated propylene based producer of Nylon 6,6. SK Titan Holdings
LLC bought the company from Solutia Inc. in 2009 and a small
remaining equity interest in 2011. Headquartered in Houston, Texas,
Ascend generated about $2.4 billion of revenues in the trailing
twelve months ended September 2024.

The principal methodology used in these ratings was Chemicals
published in October 2023.


AXIS OILFIELD: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Axis Oilfield Rentals LLC
        1900 N Collins Blvd
        Covington, LA 70433

Business Description: Axis Oilfield Rentals LLC provides equipment
                      rentals, field supplies, and on-site support
                      services to the oil and gas industry across
                      upstream, midstream, and downstream
                      operations.  Headquartered in Covington,
                      Louisiana, the Company also offers labor for
                      equipment operation and field logistics,
                      with additional field offices in Texas.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       Eastern District of Louisiana

Case No.: 25-10839

Debtor's Counsel: Douglas S. Draper, Esq.
                  HELLER, DRAPER & HORN, LLC
                  650 Poydras Street, Suite 2500
                  New Orleans, LA 70130
                  Tel: 504-299-3300
                  Fax: 504-299-3399
                  E-mail: ddraper@hellerdraper.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Edward W. Davis as president/founder.

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/WPT4MEA/Axis_Oilfield_Rentals_LLC__laebke-25-10839__0001.0.pdf?mcid=tGE4TAMA


BALDWIN INSURANCE: Moody's Alters Outlook on 'B2' CFR to Stable
---------------------------------------------------------------
Moody's Ratings has affirmed the B2 corporate family rating and
B2-PD probability of default rating of The Baldwin Insurance Group
Holdings, LLC (Baldwin), the main subsidiary of publicly traded The
Baldwin Insurance Group, Inc. (NASDAQ: BWIN). Moody's also affirmed
the B2 ratings on Baldwin's senior secured notes, senior secured
first-lien term loan, and senior secured first-lien revolving
credit facility. Moody's changed the rating outlook for Baldwin to
stable from negative, reflecting improved profitability, lower
financial leverage and Moody's expectations of greater free cash
flow now that the company has paid the bulk of its contingent
earnout obligations.

RATINGS RATIONALE

The rating affirmation reflects Baldwin's growing market presence
in distributing commercial and personal property & casualty
insurance, employee benefits, and Medicare-related products and
services to middle market businesses and individuals mainly in the
US. Baldwin sells its products through distinct channels across
three business segments including Insurance Advisory Solutions;
Underwriting, Capacity & Technology Solutions; and Mainstreet
Insurance Solutions. The company generates strong organic growth
and has improved its EBITDA margin. Baldwin remains focused on
organic growth rather than acquisitions, improving operational
efficiency and effectiveness, and reducing its financial leverage.

These strengths are offset by Baldwin's significant debt burden and
limited interest coverage owing to a series of past acquisitions
funded mainly with debt. These acquisitions also gave rise to
contingent earnout liabilities that consumed a substantial portion
of free cash flow; however, a majority of these earnouts have now
been paid, including sizable amounts settled in the first few
months of 2025. Baldwin also faces potential liabilities from
errors and omissions, a risk inherent in professional services.

For 2024, Baldwin reported $1.4 billion of revenue, up from $1.2
billion in 2023, largely driven by organic growth in core
commissions and fees. Baldwin's EBITDA margin (per Moody's
calculations) improved in 2024 as the company scaled its businesses
and generated operational efficiencies. Baldwin's 2024 free cash
flow remained weak for its rating category, but Moody's expects
free cash flow to improve in 2025.

As of year-end 2024, Baldwin's pro forma financial leverage (per
Moody's calculations) was around 6.5x. Moody's expects that Baldwin
will reduce its pro forma debt-to-EBITDA ratio below 6.5x, with
(EBITDA - capex) interest coverage above 1.5x and a
free-cash-flow-to-debt ratio in the mid-single digits. These pro
forma metrics include Moody's adjustments for operating leases and
certain non-recurring items. Baldwin has committed to its
shareholders to operate with moderate net financial leverage
(target range of 3x-4x per company calculations).

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

The following factors could result in an upgrade of Baldwin's
ratings: (i) profitable growth with further geographic
diversification in the US, (ii) debt-to-EBITDA ratio below 5.5x,
(iii) (EBITDA - capex) coverage of interest above 2.5x, and (iv)
free-cash-flow-to-debt ratio above 6%.

The following factors could result in a downgrade of Baldwin's
ratings: (i) disruptions to existing operations given the company's
rapid growth, (ii) debt-to-EBITDA ratio above 6.5x, (iii) (EBITDA -
capex) coverage of interest below 1.5x, or (iv)
free-cash-flow-to-debt ratio below 3%.

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in February 2024.

Based in Tampa, Florida, Baldwin provides a range of commercial and
personal property & casualty insurance, employee benefits, and
Medicare-related products and services to middle market businesses
and individuals mainly in the US. Baldwin generated revenue of $1.4
billion in 2024.


BARRETTS MINERALS: Defeats Creditors' Chapter 11 Case Dismissal Bid
-------------------------------------------------------------------
Randi Love of Bloomberg Law reports that a judge has denied junior
creditors' motion to dismiss Barretts Minerals Inc.'s Chapter 11
bankruptcy and indicated he will examine whether the company's talc
products contained asbestos.

During a hearing Tuesday, April 29, 2025, U.S. Bankruptcy Judge
Marvin Isgur of the Southern District of Texas said he plans to
issue a full opinion within 21 days explaining his decision to
allow the case to move forward. Barretts filed for Chapter 11 in
October 2023 to address asbestos-related liabilities tied to its
talc production.

               About Barretts Minerals Inc.

Barretts Minerals Inc.'s current operations are focused on the
mining, beneficiating, processing, and sale of industrial talc. It
historically supplied a relatively minor percentage of its sales
into cosmetic applications. Barretts Minerals' talc is sold to
distributors and third-party manufacturers for use in such parties'
products, which are then incorporated into downstream products
eventually sold to consumers.

Barretts Minerals and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 23-90794) on Oct. 2, 2023. In the petition signed by its chief
restructuring officer, David J. Gordon, Barretts Minerals disclosed
$50 million to $100 million in assets and $10 million to $50
million in liabilities.

The case was initially assigned to Judge David R. Jones before
Judge Marvin Isgur took over.

The Debtors tapped Porter Hedges, LLP and Latham& Watkins, LLP as
legal counsel; M3 Partners, LP as financial advisor; Jefferies, LLC
as investment banker; and DJG Services, LLC as restructuring
advisor. David J. Gordon of DJG Services serves as the Debtors'
chief restructuring officer. Stretto, Inc. is the claims, noticing
and solicitation agent and administrative advisor.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.
Caplin & Drysdale, Chartered and Province, LLC serve as the
committee's legal counsel and financial advisor, respectively.


BERTUCCI'S RESTAURANTS: Closes 4 Mass. Locations in Chapter 11
--------------------------------------------------------------
Neal Riley and Brandon Truitt of CBS News report that Bertucci's
has permanently shut down four of its Massachusetts locations -- in
Braintree, Mansfield, North Andover, and Norwood as part of its
restructuring. A recorded phone message at each site confirms the
closures and expresses appreciation to longtime customers.

According to the Internet Archive, the company's website listed 14
Massachusetts locations earlier in the week, but now only 10
remain. These include restaurants in Boston, Chelmsford, Chestnut
Hill, Framingham, Hingham, Medford, Newton, Reading, Waltham, and
Westborough.

Beyond Massachusetts, Bertucci's continues to operate a limited
number of locations in Pennsylvania, Maryland, Connecticut,
Delaware, and Virginia.

The Northborough-based company filed for bankruptcy protection in
Florida, reporting assets and liabilities between $10 million and
$50 million, according to court documents.

Bertucci's also filed for bankruptcy in 2018 and 2022. In a
statement regarding the latest filing on April 24, 2025, the
company said the move aims to reorganize for long-term viability.

                About Bertucci's Restaurants

Bertucci's Restaurants LLC doing business as Bertucci's Brick Oven
Pizza & Pasta, is an American chain of restaurants offering pizza
and Italian food.
On the web: https://www.bertuccis.com/

Then with 59 locations, Bertucci's Holdings, Inc., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 18-10894) on
April 15, 2018.  The Debtor tapped Landis Rath & Cobb LLP as
their bankruptcy counsel; and Imperial Capital, LLC as investment
banker; and Hilco Real Estate, LLC. The creditors committee
retained Bayard, P.A. and Kelley Drye & Warren LLP, as counsel.

Bertucci's Holding LLC, a unit of Earl Enterprises, acquired the
Debtors' assets in a bankruptcy sale. The entity acquired 56
restaurants under the name Bertucci's Brick Oven Pizza & Pasta from
the Debtor, in a transaction that closed on June 11, 2018.

                        2nd Attempt

Down to 47 locations, Bertucci's Restaurants LLC filed a petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D.
Fla. Case No. 22-04313) on Dec. 5, 2022. In the petition filed by
Jeffrey C. Sirolly, as secretary, the Debtor reported assets
between $10 million and $50 million and liabilities between $50
million and $100 million.

The Debtor is represented by R Scott Shuker, Esq. at Shuker &
Dorris, P.A.
    
                         3rd Attempt

Bertucci's sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. M.D. Fla. Case No. 25-02401) on April 24, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $10 million and $50 million each.

Honorable Bankruptcy Judge Grace E. Robson handles the case.

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


BLABLMBTQ LLC: Gets Interim OK to Use Cash Collateral
-----------------------------------------------------
BLABLMBTQ, LLC got the green light from the U.S. Bankruptcy Court
for the Western District of Texas, Austin Division, to use cash
collateral.

At the hearing held on April 23, the court approved the Debtor's
interim use of cash collateral and set the final hearing for May
20.

The Debtor needs to use cash collateral to resume business
operations and preserve its online retail business. It generates
revenue by selling inventory online.

The Debtor currently has less than $6,000 in liquid cash and
accounts receivable but also owns valuable inventory. A number of
secured creditors, including Shopify Capital, the IRS, Olympus
Lending, and various merchant cash advance companies, may have
interests in this collateral. Of these, Shopify is identified as
the primary party with a claim on the cash collateral.

                        About BLABLMBTQ LLC

BLABLMBTQ, LLC, doing business as Bella and Bloom Boutique, is an
online and physical retail company that offers women's apparel and
fashion accessories.  It operates through its e-commerce platform
and a storefront in Texas.

BLABLMBTQ filed Chapter 11 petition (Bankr. W.D. Texas Case No.
25-10545) on April 18, 2025, listing between $1 million and $10
million in both assets and liabilities. Katlyn Maupin, owner and
managing member, signed the petition.

Judge Christopher G. Bradley oversees the case.

The Debtor is represented by:

   Stephen W Sather, Esq.
   Barron & Newburger, P.C.
   7320 N. MoPac Expressway 400
   Austin TX 78731
   Tel: (512) 649-3243
   ssather@bn-lawyers.com


CANNABITION LLC: Seeks Chapter 11 Bankruptcy in Nevada
------------------------------------------------------
On April 29, 2025, Cannabition 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 Cannabition LLC

Cannabition LLC is a cannabis-themed museum or attraction operating
in Las Vegas, Nevada.

Cannabition LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No. 25-12424) on April 29,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

The Debtor is represented by Candace C. Carlyon, Esq. at Carlyon
Cica Chtd.


CAROLINA PROUD: Hires Steve Platz Realty as Sales Agent
-------------------------------------------------------
Carolina Proud Investment Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to
employ Steve Platz Realty, Inc., dba Platz Realty Group as sales
agent.

The firm will sell the Debtor's real property located at 28-34
Jacobs Rd., Youngstown, OH 44505.

The firm will be paid a commission of 7 percent of the sales
price.

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

The firm can be reached at:

     Adam Divelbiss
     Steve Platz Realty, Inc.
     dba Platz Realty Group
     3830 Starr Centre Dr., Suite 2
     Canfield, OH 44406
     Tel: (330) 757-4889

         About Carolina Proud Investment Group, LLC seeks

Carolina Proud Investment Group, LLC owns and manages a portfolio
of residential and commercial properties, including rental units
and vacant land, across multiple locations in North Carolina and
Ohio.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01063) on March 24,
2025. In the petition signed by Anna Hromyak, member-manager, the
Debtor disclosed $1,035,550 in assets and $797,689 in liabilities.

Judge Pamela W McAfee oversees the case.

The Debtor is represented by:

     Christopher Scott Kirk, Esq.
     C. Scott Kirk, Attorney At Law, PLLC
     Tel: (252) 689-6249
     Email: scott@csklawoffice.com


CAROLINA'S CONTRACTING: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Carolina's Contracting, LLC
        2861 Shilo Church Road
        Davidson, NC 28036

Business Description: Carolina's Contracting, LLC is a licensed
                      general contractor based in Davidson, North
                      Carolina, specializing in land development
                      and grading services.  Established in 2013,
                      Company offers a range of services
                      including grading, storm drainage, sanitary
                      sewer, waterline installation, culverts, and
                      stone base work.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       Middle District of North Carolina

Case No.: 25-50284

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  IVEY, MCCLELLAN, SIEGMUND, BRUMBAUGH &
                  McDONOUGH, LLP
                  305 Blandwood Ave
                  Greensboro, NC 27401
                  Tel: 336-274-4658
                  Fax: 336-274-4540

Total Assets: $31,405,291

Total Liabilities: $25,942,522

The petition was signed by Louis Keyo Matthews, Sr. as
member/manager.

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

https://www.pacermonitor.com/view/JEXJHVA/Carolinas_Contracting_LLC__ncmbke-25-50284__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

    Entity                         Nature of Claim    Claim Amount

1. Carolina Drilling, Inc.                              $1,227,708
326 Railroad St.
Mocksville, NC 27028

2. Pomona Supply Company                                  $974,662
dba Pomona Pipe Products
4611 Dundas Dr.
Greensboro, NC 27407

3. Ferguson Waterworks                                    $947,457
PO Box 100286
Atlanta, GA
30384-0286

4. Advanced Site Environmental Solutions                  $724,976
9815 Sam Furr Rd.
Ste JPMB #109
Huntersville, NC 28078

5. STAline Waterworks, Inc.           Vendor              $527,358
PO Box 242016
Charlotte, NC 28224

6. Melcar, Ltd                                            $404,600
PO Box 271
Washington, NJ 07882

7. Equipment Share                                        $364,096
PO Box 650429
Dallas, TX
75265-0429

8. Core & Main                        Vendor              $286,045
1830 Craig Park Court
Saint Louis, MO 63146

9. S&S Retaining Walls, Inc.                              $257,809
4107 Cahnnas Way
Waxhaw, NC 28173

10. L.B. Foster Company                                   $243,223

dba CXT
PO Box 676208
Dallas, TX
75267-6208

11. Cadence Petroleum Group           Vendor              $241,747
P.O. Box 601872
Charlotte, NC 28260

12. Vulcan Construction               Vendor              $240,628
Materials, LLC
P.O. Box 101131
Atlanta, GA
30392-1131

13. Bank of America                Credit Card            $228,397
P.O. Box 660441
Dallas, TX
75266-0441

14. Linder Industrial                                     $207,275
Machinery
PO Box 7436637
Atlanta, GA
30374-3637

15. Ricasha, Inc.                                         $181,500
PO Box 1771
Robbinsville, NC 28771

16. Komatsu Financial                                     $176,695
8770 W. Bryn Mawr
Avenue Suite 100
Chicago, IL 60631

17. Libertas Funding, LLC                                 $161,000
411 West Putnam Ave,
Suite 220
Taftville, CT 06380

18. Martin Marietta                  Vendor               $151,320
P.O. Box 30013
Raleigh, NC
27622-0013

19. John Deere Financial                                  $144,962
6400 NW 86th Street
Johnston, IA 50131

20. Komatsu Financial                                     $127,300
8770 W. Bryn Mawr
Avenue Suite 100
Chicago, IL 60631


CARROLLTON GATEWAY: Hires Holmes Firm PC as Special Counsel
-----------------------------------------------------------
Carrollton Gateway Development Partners, LLC seeks approval from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ The Holmes Firm, PC as special counsel.

The Debtor needs the firm's legal assistance in connection with
these cases:

   -- Namhawk, LLC v. Carrollton Gateway Development Partners, LLC;
Adv. No. 24-3103-sgj, filed in the United States Bankruptcy Court
for the Northern District of Texas, Dallas Division; and

   -- Carrollton Gateway Development Partners, LLC v. Namhawk, LLC,
et al.; Cause No. DC-24-00686, filed in the in the 191st Judicial
District Court.

The firm will be paid at the rate of $475 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The firm can be reached at:

     John David "JD" Reed, Esq.
     Kevin Moran, Esq.
     The Holmes Firm, PC
     14241 Dallas Parkway Suite 800
     Dallas, TX 75254
     Tel: (469) 916-7700

         About Carrollton Gateway Development Partners, LLC

Carrollton Gateway Development Partners LLC is engaged in
activities related to real estate.

Carrollton Gateway Development Partners LLC sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No.
24-33585) on November 5, 2024. In the petition filed by Dennis M.
Holmgren, as Manager of Urban Planning Partners, LLC, the Debtor
reports estimated assets between $10 million and $50 million and
estimated liabilities between $1 million and $10 million.

The Debtor is represented by Dennis M. Holmgren, Esq. at HOLMGREN
JOHNSON: MITCHELL MADDEN, LLP.


CARRUTH COMPLIANCE: Hires Kim Albert CPA P.C. as Accountant
-----------------------------------------------------------
Carruth Compliance Consulting, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Oregon to employ Kim Albert
CPA P.C. as accountant.

The firm's services include:

   (a) preparing Debtor's annual financial statement, including the
statement of cash receipts and disbursements as of and for the year
ended December 31, 2024;

   (b) preparing and filing the Debtor's 2024 and 2025 federal,
state, and local tax returns; and

   (c) continue providing accounting and tax services and advice in
connection with Debtor's business operations and its accounting and
tax requirements.

The firm will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

The firm will be paid a retainer in the amount of $3,000.

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

The firm can be reached at:

     Kim Albert, Esq.
     Kim Albert CPA P.C.
     5200 S Macadam Ave., Ste 450
     Portland, OR 97239-3876
     Tel: (503) 221-5117

              About Carruth Compliance Consulting, Inc.

Carruth Compliance Consulting, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. D. Or. Case No. 25-31060) on March 31, 2025. The
Debtor hires Sussman Shank LLP as counsel.


CATHOLIC FAITH: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Trustee for Region 20 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Catholic Faith Store, LLC.

                  About Catholic Faith Store

Catholic Faith Store, LLC is an online retailer specializing in
Catholic religious products, including jewelry, rosaries, Bibles,
and sacramental gifts. Since 2005, Catholic Faith Store has been
dedicated to providing meaningful religious items for various
occasions such as baptisms, communions, ordinations and weddings.

Catholic Faith Store filed Chapter 11 petition (Bankr. D. Kan. Case
No. 25-20342) on March 24, 2025, listing $1,761,497 in assets and
$1,823,178 in liabilities. Richard King, Catholic Faith Store's
managing partner, signed the petition.

Judge Dale L. Somers oversees the case.

Colin Gotham, Esq., at Evans & Mullinix, P.A., represents the
Debtor as legal counsel.


CENTENNIAL HOUSING: Unsecureds Owed $10K+ to Recover 12% of Claims
------------------------------------------------------------------
Centennial Housing & Community Services Corporation filed with the
U.S. Bankruptcy Court for the Eastern District of North Carolina a
Disclosure Statement describing its Plan of Reorganization dated
March 28, 2025.

The Debtor is a California non-profit corporation formed in 2018
and is authorized to do business in North Carolina under a
Certificate of Authority. The Debtor owns and operates Washington
Regional Medical Center ("Washington Hospital") located in
Plymouth, North Carolina.

Washington Hospital serves the needs of all, or a portion of,
adjoining counties in eastern North Carolina including Tyrell,
Hyde, Chowan, Beaufort, Martin, and Bertie counties. Currently, the
Debtor has seven full-time employees, one part-time employee, and
six contracted employees who work as needed depending on scheduling
needs. The Debtor is currently anticipating a continuation of
operations by way of this proposed reorganization.

The Debtor intends to continue its investigation into potential
claims against Medical Information Technology, Inc. ("Meditech") as
a result of certain defaults by Meditech under a Software
Subscription Agreement between Meditech and Washington Regional
Medical Center dated September 24, 2020.

The bankruptcy case was filed in response to a foreclosure
initiated by the Debtor's senior secured lender, WRMC NC PROPCO
LLC.

The Debtor shall make payments under the Plan from cash on hand and
revenue generated by the continued operation of the Debtor's
business. The Debtor shall deposit all revenue into a designated
bank account and disburse all funds in accordance with the terms of
the Plan.

The disbursements to be made under the Plan will consist of cash
payments which shall be made towards (i) any Allowed Administrative
Claims, (ii) any Allowed Professional Fee Claims, which are
expected to consist of the fees and expenses of the Debtor's
attorney, (iii) any Allowed Priority Tax Claims, (iv) any Allowed
Priority Non-Tax Claims, (v) Allowed Secured Claims, and (vi) any
Allowed General Unsecured Claims.

The Debtor's Plan of Reorganization is based upon the Debtor's
belief that the interests of its creditors will be best served if
it is allowed to continue operating by way of the reorganization as
proposed herein.

Class V consists of Allowed WRMC Unsecured Deficiency Claim. WRMC
asserts an unsecured deficiency claim in the approximate amount of
$8,067.381.91. The Debtor shall pay 11.7% of the allowed amount of
the claims in this Class, payable over five years in quarterly
installments. Payments shall commence on the first day of June 2025
or the date that is thirty days following the resolution of claim
objections, whichever is later, and continue thereafter quarterly
for a term of five years, with interest accruing at a rate as set
forth by the Federal Reserve. For feasibility purposes, the Debtor
estimates a quarterly payment amount to this Class in the amount of
$52,424.19. In addition to the foregoing, WRMC shall share pro rata
in any distributions from any Net Recoveries from all Chapter 5
actions and other post-confirmation retained claims.

Class VI consist of all Allowed General Unsecured Claims in the
amount of $10,000.00 or more, other than the unsecured deficiency
claim of WRMC. Claimants in this Class will receive distributions
on a pro-rata basis after payment to creditors in all senior
classes in accordance with the various treatments set forth herein.
The Debtor shall pay 12% of the total amount of Allowed General
Unsecured Claims in this Class over five years, payable in
quarterly installments. Payments shall commence on the first day of
June 2025 or the date that is thirty days following the resolution
of claim objections, whichever is later, and continue thereafter
quarterly for a term of five years, with interest accruing at a
rate as set forth by the Federal Reserve and pursuant to 28 U.S.C.
§ 1961.

For feasibility purposes, the Debtor estimates a quarterly payment
amount to this Class totaling $31,204.33. In addition to the
foregoing, the Debtor will pay to the General Unsecured Creditors,
including any allowed unsecured deficiency claim of WRMC, pro rata
distributions from any Net Recoveries from all Chapter 5 actions
and other postconfirmation retained claims. This Class will be
impaired.

Class VII shall consist of all Allowed General Unsecured Claims in
an amount less than $10,000.00. The holders of Allowed Claims in
this Class will receive (a) twenty-five percent of the amount to
which each such holder is entitled on account of such Allowed Claim
on the later of (i) one-hundred twenty days following the Effective
Date or (ii) the date when such Allowed Claim becomes due and
payable according to its terms and conditions, or (b) such other,
less favorable treatment as is agreed upon by the Debtor and the
holder of such Allowed General Unsecured Claim. This Class will be
impaired.

The Debtor shall make payments under the Plan from cash on hand and
revenue generated by the continued operation of the Debtor's
business. The Debtor shall deposit all revenue into a designated
bank account and disburse all funds in accordance with the terms of
this Plan.

A full-text copy of the Disclosure Statement dated March 28, 2025
is available at https://urlcurt.com/u?l=3UH7bt from
PacerMonitor.com at no charge.

           About Centennial Housing & Community Services

Centennial Housing & Community Services Corp. is a 25-bed critical
access hospital offering a broad range of healthcare services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.C. Case No. 24-03769) on October 29,
2024, with $6,970,517 in assets and $11,730,050 in liabilities.
Todd Mobley, chairman of the board of directors, signed the
petition.

Judge Joseph N. Callaway oversees the case.

The Debtor is represented by:

    Rebecca F. Redwine
    Hendren Redwine & Malone, PLLC
    Tel: 919-420-0941
    Email: rredwine@hendrenmalone.com
    Jason L. Hendren
    Hendren Redwine & Malone, PLLC
    Tel: 919-573-1422
    Email: jhendren@hendrenmalone.com


CENTURY ALUMINUM: Egan-Jones Hikes Senior Unsecured Ratings to B+
-----------------------------------------------------------------
Egan-Jones Ratings Company on April 23, 2025, upgraded the foreign
currency and local currency senior unsecured ratings on debt issued
by Century Aluminum Company to B+ from B. EJR also withdrew rating
on commercial paper issued by the Company.

Headquartered in Chicago, Illinois, Century Aluminum Company
produces primary aluminum, in both molten and ingot form, through
facilities located in the United States.


CHICKEN SOUP: Reaches Mismanagement Suit Settlement with Investor
-----------------------------------------------------------------
Ben Zigterman of Law360 reports that Chicken Soup for the Soul
Holdings LLC has finalized a settlement with a corporate investor
who claimed the company mishandled operations prior to the Chapter
7 liquidation of one of its subsidiaries.

                      About Chicken Soup

Chicken Soup for the Soul Entertainment Inc. provides premium
content to value-conscious consumers. The Company is one of the
largest advertising-supported video-on-demand (AVOD) companies in
the United States, with three flagship AVOD streaming services:
Redbox, Crackle, and Chicken Soup for the Soul.

Chicken Soup for the Soul Entertainment and about 20 of its
affiliates sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del., Lead Case No. 24-11442) on June
28, 2024.

In the petition signed by Bart M. Schwartz, chief executive
officer, Chicken Soup disclosed total consolidated assets of
$414,075,844 and total consolidated liabilities of $970,002,065.

Ashby & Geddes, P.A., represents the Debtors as general bankruptcy
counsel and Reed Smith LLP serves as counsel too. Solomon Partners
acts as investment banker to the Debtor. Kroll Restructuring
Administration LLC serves as claims and noticing agent to the
Debtor.


CONSOLIDATED BURGER: Hires Peak Franchise as Investment Banker
--------------------------------------------------------------
Consolidated Burger Holdings, LLC and its affiliates seek approval
from the U.S. Bankruptcy Court for the Northern District of Florida
to employ Peak Franchise Capital, LLC as investment banker.

The firm will provide these services:

   a) continue working with the Debtors' management to orient Peak
with the Debtors' operations, financial and legal circumstances;

   b) review financial statements, financial models and other
financial data and information;

   c) review franchise agreements, operating agreements,
capitalization agreements, debt agreements and lease agreements as
necessary;

   d) prepare financial model(s) supporting the marketing efforts
of the transaction process;

   e) prepare marketing materials, including one or more
confidential memoranda describing the Debtors it being understood
and agreed that Peak will rely entirely upon publicly available
information and information provided by the Debtors and its
officers, managers, accountants, and counsel, without independent
verification of the accuracy and completeness of such information;

   f) identify and recommend to the Company potential buyers and
capital sources in connection with a Transaction;

   g) initiate the marketing process, obtain non-disclosure
agreements and contact potential buyers approved by the Debtors;

   h) establish, organize and maintain one or more data rooms for
due diligence purposes;

   i) manage the due diligence process with prospective parties
working with the Debtors and its other professional advisors;

   j) lead and manage communication with all parties through weekly
update calls;

   k) solicit and review proposals, letters of intent, evaluate and
advise the Debtors in negotiating any proposals and letters of
intent concerning a Transaction; including during an auction held
pursuant to the bid procedures;

   l) work with to Debtors and legal counsel in recommending and
negotiating bid procedures, a sale timeline and auction
guidelines;

   m) assist the Debtors and legal counsel on negotiation and
documentation through closing the Transaction(s);

   n) as necessary, provide testimony and other litigation support
services to assist the Debtors in obtaining court approval of bid
procedures, motion to approve a sale, other matters related to the
sale process and Transaction; and

   o) provide such additional investment banking services as may
reasonably requested by the Debtors.

The firm will be paid as follows:

   (a) Advisory Fee: The Debtors shall pay Peak a non-refundable
advisory fee of $20,000 due and payable upon execution of the
Engagement Letter.

   (b) Monthly Fees: The Debtors shall pay Peak a monthly fee (the
"Monthly Fee") of $20,000 with the first Monthly Fee due and
payable thirty days after the Bankruptcy Court approval of the
engagement. Each Monthly Fee will then be due and payable 30 days
after. Peak will credit 50% of the aggregate Monthly Fees against
any Transaction Fee as described below.

   (c) Transaction Fees: The Debtors agree to pay to Peak, at the
time of the closing (the "Closing") of the Transaction(s), in
immediately available funds directly from the gross proceeds (in
the case of a credit bid the secured creditor shall be required to
pay the Transaction Fee in cash at closing) in an amount equal to:
the greater of (i) $350,000 or (ii) 5.0% of the Aggregate
Consideration (as defined below) up to $10,000,000 plus 7.0% of the
Aggregate Consideration above $10,000,000.

   (d) Expenses. In addition to any fees payable to Peak hereunder
and regardless of whether a Transaction is consummated, the Company
hereby agrees to reimburse Peak monthly for all reasonable travel,
and other out-of-pocket expenses such as research, printing,
duplicating, postage, database access charges and other
miscellaneous expenses incurred in connection with Peak's services
hereunder. Peak shall bill the Company for its reimbursable
expenses each month. Invoices are due and payable on the date of
issue and the Company agrees to pay such invoices within thirty
days of the invoice date.

Michael Elliott, a managing member at Peak Franchise Capital, LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Michael Elliott
     Peak Franchise Capital, LLC
     4100 Spring Valley Road, Ste. 535
     Dallas, TX 75244
     Tel: (972) 982-2292
     Fax: (972) 982-0197

              About Consolidated Burger Holdings, LLC

Consolidated Burger Holdings LLC and affiliates are among the
largest franchisees of Burger King, the world's second-largest fast
food hamburger chain. As of the Petition Date, they operated 57
Burger King restaurants across prime markets in Florida and
Southern Georgia. These restaurants are informally grouped into
three geographic clusters: (i) Tallahassee and Southern Georgia,
comprising 18 locations; (ii) South Florida, with 19 locations; and
(iii) the Florida Panhandle, with 20 locations. Debtor Consolidated
Holdings is the sole member and 100% equity owner of both
Consolidated A and Consolidated B.

Consolidated Burger Holdings LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-40162) on
April 14, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $50 million and $100 million each.

Honorable Bankruptcy Judge Karen K. Specie handles the case.

The Debtor is represented by Paul Steven Singerman, Esq., Jordi
Guso, Esq., Christopher Andrew Jarvinen, Esq., and Brian G. Rich,
Esq. at BERGER SINGERMAN LLP. DEVELOPMENT SPECIALISTS, INC. is the
Debtors' Restructuring Advisor. PEAK FRANCHISE CAPITAL LLC is the
Debtors' Investment Banker. OMNI AGENT SOLUTIONS, INC. is the
Debtors' Notice & Claims Agent.


CPIF LA ARTS: Hires Levene Neale Bender as Bankruptcy Counsel
-------------------------------------------------------------
CPIF LA Arts District LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ Levene,
Neale, Bender, Yoo & Golubchik L.L.P. as general bankruptcy
counsel.

The firm's services include:

     a. advising the Debtor with regard to the requirements of the
Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the Office
of the United States Trustee as they pertain to the Debtor and
interacting with and cooperating with any committee appointed in
the Debtor's bankruptcy case;

     b. advising the Debtor with regard to certain rights and
remedies of its bankruptcy estate and the rights, claims and
interests of creditors;

     c. representing the Debtor in any proceeding or hearing in the
Bankruptcy Court involving its estate unless the Debtor is
represented in such proceeding or hearing by other special
counsel;

     d. conducting examinations of witnesses, claimants or adverse
parties and representing the Debtor in any adversary proceeding
except to the extent that any such adversary proceeding is in an
area outside of LNBYG's expertise or which is beyond LNBYG's
staffing capabilities;

     e. preparing and assisting the Debtor in the preparation of
reports, applications, pleadings and orders including, but not
limited to, applications to employ professionals, interim
statements and operating reports, initial filing requirements,
schedules and statement of financial affairs, lease pleadings, cash
collateral pleadings, financing pleadings, and pleadings with
respect to the Debtor's use, sale or lease of property outside the
ordinary course of business;

     f. representing the Debtor with regard to obtaining use of
debtor in possession financing and/or cash collateral including,
but not limited to, negotiating and seeking Bankruptcy Court
approval of any debtor in possession financing and/or cash
collateral pleading or stipulation and preparing any pleadings
relating to obtaining use of debtor in possession financing and/or
cash collateral;

     g. assisting the Debtor in any asset sale process;

     h. assisting the Debtor in the negotiation, formulation,
preparation and confirmation of a plan of reorganization and the
preparation and approval of a disclosure statement in respect of
the plan; and

     i. performing any other services which may be appropriate in
LNBYG's representation of the Debtor during its bankruptcy case.

The firm will be paid at these rates:

     Attorneys           $550 to $750 per hour
     Paraprofessionals   $300 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

Prior to the bankruptcy filing, on February 14, 2025, the firm
received an intial retainer of $10,000. On April 3, 2025, the
Debtor's parent company, CPIF Reit, LLC, paid the firm an
additional $41,738.

David B. Golubchik, Esq., a partner at Levene, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     David B. Golubchik, Esq.
     Levene, Neale, Bender, Yoo & Golubchik, LLP
     2818 La Cienega Avenue
     Los Angeles, CA 90034
     Tel: (310) 229-1234
     Fax: (310) 229-1244
     Email: dbg@lnbyg.com

              About CPIF LA Arts District LLC

CPIF LA Arts District, LLC 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, Calif. The
property, valued at $22.6 million, spans approximately 45,722
square feet and is improved with a 91,200-square-foot mixed-use
building. It includes nine retail units on the ground floor and 13
apartments/lofts on the second floor.

CPIF sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. C.D. Calif. Case No. 25-12827) on April 7, 2025. In its
petition, the Debtor reported total assets of $22,702,276 and total
liabilities of $9,706,901.

Judge Sheri Bluebond handles the case.

The Debtor is represented by David B. Golubchik, Esq., at Levene
Neale Bender Yoo & Golubchik, LLP.


CROSSWIND RANCH: Hires Tittle Law Firm PLLC as Counsel
------------------------------------------------------
Crosswind Ranch Enterprises, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Texas to employ Tittle
Law Firm, PLLC as counsel.

The firm will provide these services:

     (a) provide legal advice with respect to the Debtor's powers
and duties in the continued operation of its business and the
management of its property;

     (b) take all necessary action to protect and preserve the
Debtor's estate;

     (c) prepare on behalf of the Debtor necessary legal papers in
connection with the administration of its estate;

     (d) assist the Debtor in preparing for and filing a plan of
reorganization at the earliest possible date;

     (e) perform any and all other legal services for the Debtor in
connection with its Chapter 11 case; and

     (f) perform such legal services as the Debtor may request with
respect to any matter.

The firm will charge for time at its normal billing rates for
attorneys and legal assistants and will request reimbursement for
its out-of-pocket expenses.

The firm received a retainer of $6,900 from the Debtor.

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

The firm can be reached through:

     Brandon J. Tittle, Esq.
     Tittle Law Firm, PLLC
     1125 Legacy Dr., Ste. 230
     Frisco, TX 75034
     Telephone: (972) 213-2316
     Email: btittle@tittlelawgroup.com

              About Crosswind Ranch Enterprises, LLC

Crosswind Ranch Enterprises, L.L.C. harvests and sells timber in
Fannin County. The Debtor is also the owner of 44.147 acres of land
in Fannin County.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-40946) on April 1,
2025. In the petition signed by Bryan A. Sklar, member, the Debtor
disclosed up to $1 million in both assets and liabilities.

Brandon Tittle, Esq., at Tittle Law Group, PLLC, represents the
Debtor as legal counsel.


CWB REALTY: Gets Interim OK to Use Cash Collateral
--------------------------------------------------
CWB Realty got the green light from the U.S. Bankruptcy Court for
the District of Massachusetts, Eastern Division, to use cash
collateral.

The order penned by Judge Christopher Panos authorized the Debtor's
interim use of cash collateral, which consists of rental proceeds
and cash on hand, to pay the expenses set forth in its budget.

As protection, any secured creditor with a valid lien as of the
petition date was granted a replacement lien, with the same
priority, validity and enforceability as its pre-bankruptcy lien.

The Debtor's secured creditors include U.S. Bank Trust National
Association and Deutsche Bank Trust Company Americas, as trustees
for various investment trusts.

The next hearing is set for May 14. Objections are due by May 13.

The Debtor attributes its financial distress largely to the
COVID-19 pandemic, which led to a drop in rental income, tenant
turnover, vacancies, and unrecovered rent, especially following an
unattended death at one property that resulted in sanitation and
repair expenses. As a result, the Debtor fell behind on its
mortgages, which are now in arrears. However, recent efforts to
restore and re-tenant the properties are progressing, with
projections indicating stabilized rental income in the near term.

                         About CWB Realty

CWB Realty filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Mass. Case No. 25-10446) on March 6,
2025, listing between $1 million and $10 million in both assets and
liabilities.

Judge Christopher J. Panos oversees the case.

Hilmy Ismail, Esq., at the Law Office of Hilmy Ismail represents
the Debtor as bankruptcy counsel.


DECATUR, AR: S&P Cuts 2022 Refunding Bond Rating to 'BB+'
---------------------------------------------------------
S&P Global Ratings lowered its rating on Decatur, Ark's series 2022
water and sewer refunding bonds to 'BB+' from 'BBB-'.

The outlook is negative.

The rating action reflects operational and financial challenges
rising from the corrective action order due to above-permit usage
at the wastewater treatment plant. In S&P's view, capital needs
related to expansion may pressure multiple aspects of the financial
profile, absent rate increases that are currently uncertain.

Environmental factors facing the utility are in line with other
similarly rated utilities in the region with tornado risk but an
abundance of raw water in the region. As mentioned, the wastewater
plant is under a corrective action order but has faced no penalties
or fines. S&P does not view social risks as elevated relative to
peers considering rate affordability in the area. The utility's
governance factors are elevated in relation to other peers as most
policies are not codified, but rather internal that may vary if
management or council experiences turnover.

S&P said, "The negative outlook reflects our uncertainty regarding
rate increases to accommodate the rising debt profile and
remediation steps to ensure long-term capacity at the wastewater
treatment plant. In addition, in our view the thin nominal cash
position does not provide support for emergency capital repairs
which are heightened in the short-term.

"We could lower the rating further if management does not move
forward with codified policies, such as a master plan and rate
study, providing a clear path forward in addressing regulatory
challenges. In addition, we could lower the rating if debt service
coverage is maintained below 1.0x, forcing deployment of cash to
pay for annual debt service.

"We could revise the outlook to stable if management demonstrates a
willingness to increase rates to support additional annual debt
service and capital plans. In addition, clarity on the pending
master plan and timeline for meeting growth expectations would be
considered."



DEQSER LLC: Court OKs DIP Loan From CSV Capital
-----------------------------------------------
Deqser, LLC and affiliates received interim approval from the U.S.
Bankruptcy Court for the District of Delaware to obtain
post-petition financing from CSV Capital, LLC and use cash
collateral to get through bankruptcy.

The interim order penned by Judge Craig Goldblatt approved the
financing, which comes in the form of a superpriority secured
debtor-in-possession (DIP) term loan of up to $2.5 million.

Of this amount, $1 million will be made immediately available to
the Debtor after entry of the interim order while the remaining
$1.5 million will be made available after final approval of the
loan.

The final hearing is set for May 12.

The DIP term loan is necessary because none of the Debtors'
existing lenders were willing to provide post-petition funding,
making the DIP term loan the most viable and critical option
available, according to the Debtors' attorney, Ronald Gellert,
Esq., at Gellert Seitz Busenkell & Brown, LLC.

Approximately $550,000 of the pre-bankruptcy bridge financing from
CSV will be "rolled up" into the post-petition loan. This financing
is crucial to stabilize the Debtors' operations, pay administrative
costs, preserve asset value, and facilitate a successful
reorganization.

The financing includes an 8% annual interest rate with an
additional 5% default rate, a maturity date no later than Oct. 10,
and a carve-out for professional fees.
The DIP term loan includes granting superpriority administrative
claims and priming liens on certain assets, as well as authorizing
the Debtors' use of cash collateral, most of which is consensually
provided by secured creditors except for Merchant Financial
Corporation.

As of the petition date, the Debtors' secured debt totaled
approximately $17 million, primarily attributable to obligations
owed by KNY 26671 LLC, one of the Debtor entities. This debt arises
from a complex capital structure involving multiple lenders, each
providing financing for different operational needs.

The largest single secured creditor is Eastern Funding LLC, with a
claim of approximately $5.326 million, primarily secured by
equipment. Another significant creditor is Merchant Financial
Corporation, owed $3.250 million, which holds a blanket lien on
various assets and has not consented to the use of the cash
collateral.

Deutsche Leasing USA, Inc. (doing business as Kannegiesser), a
financier of industrial equipment, is owed approximately $3.8
million and also holds liens on specific equipment. Additionally,
Irazuk LLC has a secured claim of $1.974 million, while Feenix
Venture Partners is owed $1.672 million.

The Debtors have also indicated that any debt associated with
Deqser, another Debtor entity, consists primarily of guarantees
related to the obligations of KNY 26671 LLC. To support operations
in the days leading up to the Chapter 11 filing, the Debtors
received a $550,000 bridge loan from CSV.

The Debtors acknowledge the priming effect the DIP liens may have
on certain pre-bankruptcy creditors and have offered varying
degrees of lien subordination or adequate protection, including
replacement liens and monthly payments (e.g., $22,000 per month to
Merchant Financial), to mitigate the impact and maintain fairness
across secured creditor classes during the bankruptcy proceedings.

A copy of the motion is available at https://urlcurt.com/u?l=RnRBMW
from PacerMonitor.com.

                      About Deqser LLC

Deqser LLC is a business entity associated with Cooperative
Laundry, a commercial laundry service based in Kearny, New Jersey.
Operating from a state-of-the-art facility, the Company supports
the hospitality industry with advanced, eco-efficient laundry
solutions.

Deqser LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del., Case No. 25-10687) on April 10, 2025.  The
Debtor reported estimated assets and estimated liabilities of $1
million to $10 million.

The Hon. Craig T Goldblatt presides over the case.

The Debtor's general bankruptcy counsel is Mayerson & Hartheimer,
PLLC and its local bankruptcy counsel is Gellert Seitz Busenkell &
Brown, LLC.


DMK PHARMACEUTICALS: Drug Overdose Lawsuit Proceeds in Ch. 11 Case
------------------------------------------------------------------
Ben Zigterman of Law360 Bankruptcy Authority reports that a
Delaware bankruptcy judge has determined that US WorldMeds must
face an adversary complaint from DMK Pharmaceuticals, which claims
the distributor did not sufficiently promote one of its products.

               About DMK Pharmaceuticals Corp.

DMK Pharmaceuticals Corporation and its affiliates are composed of
a family of pharmaceutical companies that own various therapies
treating different indications. Over time, the Debtors' portfolio
of treatments has focused on treatment of the opioid epidemic, both
in an emergency setting and in the prophylactic treatment of Opioid
Use Disorder.

DMK Pharmaceuticals and its affiliates filed petitions under
Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 24-10153) on Feb. 2, 2024.  In the petition signed by
its chief financial officer, Seth Cohen, DMK Pharmaceuticals
disclosed $10 million to $50 million in both assets and
liabilities.

The Debtors tapped Gellert Scali Busenkell & Brown, LLC and Nelson,
Mullins, Riley & Scarborough, LLP as legal counsels; and Rock Creek
Advisors, LLC as financial advisor. BMC Group, Inc., is the claims
and noticing agent.


DORMIFY INC: Google Dispute Delays Chapter 11 IP Asset Sale
-----------------------------------------------------------
Vince Sullivan of Law360 repots that a $600,000 claim dispute with
Google caused bankrupt dorm room furnishing retailer Dormify Inc.
to postpone approval of its intellectual property asset sale to
Williams-Sonoma Inc. on Monday, April 28, 2025, providing the
debtor with additional time to resolve the issue.

               About Dormify, Inc.

Dormify, Inc. is a dorm room furnishing retailer.

Dormify, Inc. filed Chapter 11 petition (Bankr. D. Del. Case No.
24-12634) on November 18, 2024, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

Judge Thomas M. Horan oversees the case.

Goldstein & McClintock, LLLP is the Debtor's legal counsel.


EAGLEVIEW TECHNOLOGY: S&P Assigns 'CCC+' ICR, Outlook Stable
------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issuer credit rating to
EagleView Technology LLC. S&P also assigned its 'B-' issue-level
rating to the first-lien term loan with a recovery rating of '2'
(rounded estimate: 80%).

S&P said, "The stable outlook reflects our view that, although we
see EagleView's capital structure as unsustainable in the long term
due to the sizable, deeply subordinated payment-in-kind (PIK)
facilities at the parent, we believe liquidity will be sufficient
to support operations."

Extended debt maturities and reduced cash interest expense
temporarily provide flexibility for EagleView. S&P said, "While
EagleView executes business initiatives, we see longer-term risk
relating to its ability to adequately service its capital
structure. The proposed transaction pushes the maturities of its
revolver and term loans to 2028, which will alleviate near-term
refinancing risks. The PIK feature significantly lowers cash
interest in 2025. However, S&P Global Ratings-adjusted EBITDA
coverage of total interest expense remains about 1x. We believe
meaningful deleveraging is unlikely as debt increases on the PIK
feature. Therefore, we view EagleView's capital structure as
unsustainable without significant business improvement and cash
flow generation."

Liquidity temporarily improves with reduced cash interest and
revolver paydown, but elevated capital spending remains a risk.
EagleView used proceeds from the new junior debt to reduce
outstanding amounts under the $42.5 million revolver, bringing
total liquidity to above $60 million, including cash on hand. S&P
said, "In our updated forecast, we anticipate reduced cash interest
payments from the PIK feature and modest business growth will
improve cash flow in 2025. However, we don't anticipate much
deleveraging since cash flow would primarily fund capital
expenditure (capex), leaving negligible funds remaining to reduce
debt and offset the compounding effect of PIK debt." EagleView has
a history of high capital spending that would likely continue to
cannibalize cash flow. While top-line growth is improving, profits
have been slower as the company transitions its operating model to
more subscription contracts.

EagleView has favorable growth prospects as it moves toward
subscription revenue. S&P said, "We forecast revenue growth of 12%
in 2025 after a contraction in 2024 and margin improvement, with
more subscription revenue largely in its government and insurance
segment. This transition will stabilize revenue growth and
partially ease weather-related volatility in EagleView's insurance
segment. The company has launched new products, and we expect it to
benefit from cross selling and investments in technology."

S&P said, "The stable outlook reflects our expectation that,
although we consider the capital structure to be unsustainable,
EagleView will increase revenues as it transitions to a
subscription-based revenue model. We expect liquidity will be
sufficient to cover short-term needs."

S&P could lower the ratings if it expects a payment default,
covenant breach, or distressed debt restructuring. This could occur
if:

-- EagleView fails to improve operating performance, likely
because of slower adoption of new products and enhancements and
poor expense management, leading to sustained cash flow deficits;
or

-- Capex is higher than we expect without yielding sufficient
investment returns.

S&P could raise its ratings on EagleView if:

-- S&P believes the capital structure is no longer unsustainable;
and

-- Operating performance significantly exceeds our expectations
such that FOCF to debt is in the low-single-digit percent area and
S&P Global Ratings-adjusted EBITDA coverage of total interest
expense is in the mid-1x area.

S&P also expects the company to cross-sell and upsell its products
and successfully transition its revenue stream to a more
predictable subscription-based model.



EPIC SMOKEHOUSE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Epic Smokehouse LLC
        1330 S Fern St
        Ste 3
        Arlington VA 22202

Business Description: Epic Smokehouse LLC operates a barbecue and
                      steakhouse restaurant in Arlington,
                      Virginia.  Founded in 2012, the
                      establishment offers a menu that blends
                      traditional smoked meats with upscale dishes
                      and cocktails.  The restaurant is located
                      near Pentagon City and serves both lunch and
                      dinner, including weekend brunch.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       Eastern District of Virginia

Case No.: 25-10855

Debtor's Counsel: Daniel Press, Esq.
                  CHUNG & PRESS, P.C.
                  6718 Whittier Ave Ste 200
                  McLean VA 22101
                  Phone: 703-734-3800
                  Email: dpress@chung-press.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joon Yang as managing member.

A full-text copy of the petition, which includes a list of the
Debtor's 20 largest unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/RNFHL4A/Epic_Smokehouse_LLC__vaebke-25-10855__0001.0.pdf?mcid=tGE4TAMA


EXPEDITED TAXI: Hires Law Office of Alla Kachan PC as Counsel
-------------------------------------------------------------
Expedited Taxi Corp. seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to employ Law Office of Alla
Kachan, PC as counsel.

The firm will provide these services:

     (a) assist the Debtor in administering this Chapter 11 case;

     (b) make such motions or take such action as may be
appropriate or necessary under the Bankruptcy Code;

     (c) represent Debtor in prosecuting adversary proceedings to
collect assets of the estate and such other actions as it deems
appropriate;

     (d) take such steps as may be necessary for the Debtor to
marshal and protect the estate's assets;

     (e) negotiate with the Debtor's creditor in formulating a plan
of reorganization in this case;

     (f) draft and prosecute the confirmation of the Debtor's plan
of reorganization in this case; and

     (g) render such additional services as the Debtor may require
in this case.

The firm will be paid at these rates:

     Attorney                 $475 per hour
     Clerks/Paraprfessionals  $250 per hour

In addition, the firm will seek reimbursement for expenses
incurred.

The firm received an initial retainer in the amount of $10,000.

Alla Kachan, Esq., an attorney at the firm, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Alla Kachan, Esq.
     Law Offices of Alla Kachan, PC
     2799 Coey Island Avenue, Suite 202
     Brooklyn, NY 11235
     Telephone: (718) 513-3145

              About Expedited Taxi Corp.

Expedited Taxi Corp. operates in the taxi service industry, owning
medallions 9G55 and 9G56, which allow it to provide taxi services
in the Rockaway Park area of New York.

Expedited Taxi Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-40852) on February 20,
2025. In its petition, the Debtor reports total assets of
$1,309,981 and total liabilities of $1,288,340.

Honorable Bankruptcy Judge Jil Mazer-Marino handles the case.

The Debtor is represented by Alla Kachan, Esq., at LAW OFFICES OF
ALLA KACHAN, P.C..


EXPEDITED TAXI: Seeks to Hire Estelle Miller as Accountant
----------------------------------------------------------
Expedited Taxi Corp. seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to employ Estelle Miller, a
professional practicing in New York, as accountant.

Ms. Miller will render these services:

     (a) gather and verify all pertinent information required to
compile and prepare monthly operating reports; and

     (b) prepare monthly operating reports for the Debtor.

Ms. Miller will be compensated at a monthly fee of $300.

She also received an initial retainer fee of $3,000 from the
Debtor.

Ms. Miller disclosed in a court filing that she is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The accountant can be reached at:
   
     Estelle Miller, CPA
     Bellmore, NY 11710
     Telephone: (347) 570-7002
     Email: estellemillercpa@gmail.com

              About Expedited Taxi Corp.

Expedited Taxi Corp. operates in the taxi service industry, owning
medallions 9G55 and 9G56, which allow it to provide taxi services
in the Rockaway Park area of New York.

Expedited Taxi Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-40852) on February 20,
2025. In its petition, the Debtor reports total assets of
$1,309,981 and total liabilities of $1,288,340.

Honorable Bankruptcy Judge Jil Mazer-Marino handles the case.

The Debtor is represented by:

     Alla Kachan, Esq.
     LAW OFFICES OF ALLA KACHAN, P.C.
     2799 Coney Island Avenue, Suite 202
     Brooklyn, NY 11235
     Tel: (718) 513-3145
     Fax: (347) 342-3156
     Email: alla@kachanlaw.com


EYM PIZZA: Court OKs Pizza Business Property Sale at Auction
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas,
Sherman Division, has permitted EYM Pizza LP and its affiliates, to
sell personal property, free and clear of liens, interests, and
encumbrances.

The Debtors have been engaged in the operation of Pizza Hut
restaurants and have concluded the sale of their operations. The
Debtors still own various items of tangible personal property
located in multiple states which they have removed from closed
restaurants and which they now wish to liquidate at public auction
through the eBay.com platform.

The Court has authorized and empowered the Debtors to sell personal
property in Auction through eBay.com

The Debtors are ordered that as of the closing of an auction and
payment, the Debtors should be authorized to transfer of Property
free and clear of all liens, claims and encumbrances.

The Court further ordered that upon the payment of the purchase
price by a successful bidder, each item of Property shall be
transferred to the purchaser, and such transfer shall constitute a
legal, valid, binding, and effective transfer of the Property free
and clear of all liens, claims and
encumbrances.

                 About EYM Pizza LP

EYM Pizza LP is a Pizza Hut franchisee.

EYM Pizza LP and its affiliates sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-41669) on
president of EYM Group Inc., the Debtor reports estimated assets
under $2.25 million and estimated liabilities more than $21
million.

Judge Brenda T. Rhoades presides over the case.

Howard Marc Spector, Esq. at Spector & Cox, PLLC, is the Debtors'
counsel. National Franchise Sales is the Debtors' financial advisor
for the sale of the assets or businesses of the Debtors.


F21 OPCO: Objects to Vendors' Debt Claims in Chapter 11 Case
------------------------------------------------------------
Dorothy Ma of Bloomberg Law reports that Forever 21's U.S.
operator, F21 Opco LLC, has challenged several vendor debt claims
in its bankruptcy case, seeking to downgrade supplier assertions of
priority status to lower-tier claims.

According to a court filing on Monday, April 28, 2025, the company
said many of the goods related to these claims were not delivered
within the 20-day window before the bankruptcy filing, a key
requirement under U.S. bankruptcy law for administrative expense
classification. The company also noted that in some cases, the
value of the goods received was lower than the amounts claimed by
the vendors.

                    About F21 OpCo

F21 OpCo, LLC is the operator of Forever 21 stores and licensee of
the Forever 21 brand in the United States.

F21 OpCo sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D. Del. Case No. 25-10469) on March 16, 2025. In its
petition, the Debtor reports estimated assets between $100 million
and $500 million and estimated liabilities between $1 billion and
$10 billion.

The Debtor's proposed advisors include Paul, Weiss, Rifkind,
Wharton & Garrison LLP and Young Conaway Stargatt & Taylor, LLP as
legal counsel, BRG as financial advisor, RCS Real Estate Advisors
as real estate advisor, SSG Capital Advisors, LLC as investment
banker, and Reevemark as communications advisor.

                    About Forever 21 Inc.

Founded in 1984 by South Korean husband and wife team Do Won Chang
and Jin Sook Chang and headquartered in Los Angeles, Calif.,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers. Forever 21 delivers a curated assortment
of new merchandise brought in daily.

Forever 21, Inc. and seven of its U.S. subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-12122) on Sept.
29, 2019. According to the petition, Forever 21 has estimated
liabilities on a consolidated basis of between $1 billion and $10
billion against assets of the same range.  

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed a
committee of unsecured creditors on Oct. 11, 2019. The committee is
represented by Kramer Levin Naftalis & Frankel LLP and Saul Ewing
Arnstein & Lehr LLP.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.

                   *    *    *

In February 2020, the Debtor was purchased by a consortium that
includes Authentic Brands Group, Simon Property Group and
Brookfield Property Partners for $81.1 million. As part of the
deal, ABG and Simon will each own 37.5% of the fast-fashion
retailer, while Brookfield controls the remaining 25% of Forever
21's operating and intellectual property businesses.


F21 OPCO: Unsecureds Will Get 0.19% to 0.46% of Claims in Plan
--------------------------------------------------------------
F21 OpCo, LLC, and its debtor affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware a Disclosure
Statement for Joint Chapter 11 Plan dated March 28, 2025.

Forever 21 sells trendy clothing and accessories to customers in
the United States primarily at brick-and-mortar stores, and has
been a leader in the "fast fashion" industry since its founding in
1984. The Company began as a 900 square foot store in California,
but through the 1980s and 1990s, expanded throughout the United
States and, eventually, globally.

As of the Petition Date, the Debtors operate approximately 354
leased stores in the United States, including locations at some of
the most desirable shopping malls in the country. Forever 21 also
sells merchandise through its website—www.forever21.com—that
the Company has hosted since the early 2000s. Pursuant to a license
agreement with a subsidiary of Authentic Brands Group ("ABG"), the
Debtors license the Forever 21 brand for certain product categories
and uses within the U.S.

In the months leading up to the Petition Date, the Debtors'
management team, with direction from the Board, began marketing
their assets and soliciting bids for a value maximizing
transaction. On or about January 17, 2025, the Debtors retained SSG
Capital Advisors, LLC ("SSG"), an experienced investment banking
firm specializing in middle market situations, to oversee and
continue the Going Concern Sale Process that commenced, on an
informal basis, in Summer 2024.

The Debtors commenced store closings at a significant number of
their stores starting on February 14, 2025, which process continued
for all remaining stores no later February 28, 2025. With respect
to the Store Closing Sales, prior to selecting the Liquidator Joint
Venture, the Debtors solicited bids from various third-party
consultants, and held diligence sessions to determine which
consultant possessed the requisite skills, resources, and
experience to perform the Debtors' large scale going out of
business sales in a controlled, efficient, and value-maximizing
manner. The Debtors received and, with the assistance of their
advisors, carefully considered multiple formal proposals, including
that presented by a joint venture comprised of Hilco, Gordon
Brothers Retail Partners, LLC, and SB360 Capital Partners, LLC
(collectively, the "Liquidator Joint Venture").

Notably, all potential bidders contemplated running the Store
Closing Sales through a chapter 11 process. To ensure that the
Debtors entered into a consulting arrangement on the most favorable
terms reasonably available under the circumstances, the Debtors
spent significant time negotiating the economics of the proposals.
Following these extensive negotiations, the Debtors determined to
move forward with the proposal submitted by the Liquidator Joint
Venture, which the Debtors, in consultation with their advisors and
the Board, determined under the circumstances represented the most
value-maximizing transaction reasonably available and preserved the
best opportunity to consummate an alternative, going-concern
transaction should one become feasible.

The Debtors and Liquidator Joint Venture subsequently engaged in
arm's-length negotiations with respect to the terms of the
Liquidator Joint Venture's retention to conduct the Store Closing
Sales and, on February 12, 2025, the Debtors and Liquidator Joint
Venture executed an amendment to the agency agreement previously
entered into by and between the Company and Hilco (such amendment,
the "Agency Agreement Amendment," and the underlying agency
agreement, the "Agency Agreement"). Among other things, the Agency
Agreement Amendment binds the new participants in the Liquidator
Joint Venture to the initial Agency Agreement entered into with
Hilco and memorializes the terms for the Liquidator Joint Venture's
compensation.

Prior to the Petition Date, on or about February 14, 2025, the
Company commenced Store Closing Sales at approximately 236 of the
Debtors' retail locations, initiating an incremental closing
process that will allow the Debtors to minimize time in chapter 11
and to exit stores quickly. Subsequently, the Company commenced
Store Closing Sales at the Debtors' remaining 118 locations on or
about February 27, 2025. Pursuant to the Agency Agreement
Amendment, which the Bankruptcy Court approved on an interim basis
on March 18, 2025, the Liquidator Joint Venture will serve as the
exclusive agent to the Debtors in connection with the Store Closing
Sales during these Chapter 11 Cases.

The Agency Agreement Amendment provides that the Debtors and
Liquidator Joint Venture expect to complete all Store Closing Sales
before May 1, 2025, with many Store Closing Sales ending before
April 1, 2025. While the Store Closing Sales are conducted, the
Going Concern Sale Process will continue to run its course as the
Debtors and their advisors work towards achieving a value
maximizing, go-forward transaction. To facilitate this process, the
Debtors intend to file a motion seeking approval of bid procedures
or other sale-related relief in the near term.

Class 6 consists of General Unsecured Claims. Except to the extent
that a Holder of an Allowed General Unsecured Claim and the Debtors
or the Plan Administrator, as applicable, agree to less favorable
treatment for such Holder, in full and final satisfaction,
compromise, settlement, and release of and in exchange for such
General Unsecured Claim, each Holder of an Allowed General
Unsecured Claim shall receive its pro rata share (based on such
holder's proportionate share of the aggregate amount of all Allowed
General Unsecured Claims) of:

     * interests in (and proceeds of) the remaining unencumbered
property of the Debtors (if any); and

     * (A) if Class 6 (General Unsecured Claims) votes to accept
the Plan, 6% of the Net Proceeds or (B) if Class 6 (General
Unsecured Claims) votes to reject the Plan, 3% of the Net Proceeds.


Notwithstanding anything to the contrary in the Plan, the treatment
of the Allowed General Unsecured Claim of SPARC Group LLC on
account of the SPARC Payable shall be subject to the terms of the
SPARC Settlement. The allowed unsecured claims total
$432,951,881.00. This Class will receive a distribution of 0.19% to
0.46% of their allowed claims.

On the Effective Date, all Existing Equity Interests will be
cancelled, released, and extinguished and will be of no further
force and effect. No Holders of Existing Equity Interests will
receive a distribution under the Plan on account of such Existing
Equity Interests.

Subject in all respects to the provisions of the Plan concerning
the Professional Fee Escrow Account, the Debtors or the Plan
Administrator, as applicable, shall fund distributions under the
Plan with Cash on hand on the Effective Date and all other
Distribution Co. Assets.

On the Effective Date, the SPARC Settlement shall be effective and
binding pursuant to the Plan and Confirmation Order. Pursuant to
the SPARC Settlement:

     * the SPARC Payable shall be deemed Allowed as a General
Unsecured Claim in the amount of not less than approximately
$323,000,000.00, subject to reconciliation prior to a hearing on
the Disclosure Statement;

     * on the Effective Date of the Plan, the SPARC Parties shall
waive the right to recover from the Debtors as to seventy-five
percent of the SPARC Payable; and

     * the SPARC Parties shall be Released Parties under this Plan
and receive the Releases specified in Article VIII of the Plan.

A full-text copy of the Disclosure Statement dated March 28, 2025
is available at https://urlcurt.com/u?l=kqcDPZ from
PacerMonitor.com at no charge.

Proposed Counsel to the Debtors:

     Andrew L. Magaziner, Esq.
     Robert F. Poppiti, Jr., Esq.
     Ashley E. Jacobs, Esq.
     S. Alexander Faris, Esq.
     Kristin L. McElroy, Esq.
     Andrew M. Lee, Esq.
     Sarah E. Gawrysiak, Esq.
     Young Conaway Stargatt & Taylor, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Telephone: (302) 571-6600
     Facsimile: (302) 571-1253
     Email: amagaziner@ycst.com
            rpoppiti@ycst.com
            ajacobs@ycst.com
            afaris@ycst.com
            kmcelroy@ycst.com
            alee@ycst.com
            sgawrysiak@ycst.com

                          About F21 OpCo

F21 OpCo, LLC is the operator of Forever 21 stores and licensee of
the Forever 21 brand in the United States.

F21 OpCo sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D. Del. Case No. 25-10469) on March 16, 2025. In its
petition, the Debtor reports estimated assets between $100 million
and $500 million and estimated liabilities between $1 billion and
$10 billion.

The Debtor's proposed advisors include Paul, Weiss, Rifkind,
Wharton & Garrison LLP and Young Conaway Stargatt & Taylor, LLP as
legal counsel, BRG as financial advisor, RCS Real Estate Advisors
as real estate advisor, SSG Capital Advisors, LLC as investment
banker, and Reevemark as communications advisor.

                      About Forever 21 Inc.

Founded in 1984 by South Korean husband and wife team Do Won Chang
and Jin Sook Chang and headquartered in Los Angeles, Calif.,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers. Forever 21 delivers a curated assortment
of new merchandise brought in daily.

Forever 21, Inc. and seven of its U.S. subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-12122) on Sept.
29, 2019. According to the petition, Forever 21 has estimated
liabilities on a consolidated basis of between $1 billion and $10
billion against assets of the same range.  

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed a
committee of unsecured creditors on Oct. 11, 2019. The committee is
represented by Kramer Levin Naftalis & Frankel LLP and Saul Ewing
Arnstein & Lehr LLP.

Counsel to the administrative agent under the Debtors' prepetition
revolving credit facility and the Debtors' DIP ABL financing
facility are Morgan, Lewis & Bockius LLP and Richards, Layton &
Finger, PA.

Counsel to the administrative agent under the Debtors' DIP term
loan facility is Schulte Roth & Zabel LLP.

                             *    *    *

In February 2020, the Debtor was purchased by a consortium that
includes Authentic Brands Group, Simon Property Group and
Brookfield Property Partners for $81.1 million. As part of the
deal, ABG and Simon will each own 37.5% of the fast-fashion
retailer, while Brookfield controls the remaining 25% of Forever
21's operating and intellectual property businesses.


FIRST CLASS: To Sell Trailers to Multiple Buyers
------------------------------------------------
First Class Moving Systems, Inc. and its affiliates, Capital Asset
Finance, Inc., First Class Moving Systems of North Jersey, Inc.,
First Class Moving Of South Florida, Inc., First Class Commercial
Services Of Orlando, Inc., and FC Equipment Leasing, Inc., seek
permission from the U.S. Bankruptcy Court for the Middle District
of Florida, Tampa Division, to sell five trailers, free and clear
of liens, claims, and encumbrances.

The Debtors have determined that they need to right-size the
companies, reduce overhead, and increase profitability to
successfully emerge from Chapter 11 and decided to sell five
trailers.

The Debtors own the following five trailers:

Trailer 1 2023 Kentucky Model FVCC-D Tandem Axle 53'
1KKVE5322PL253627
Trailer 2 2023 Kentucky Model FVCC-D Drop Frame Semi Trailer
1KKVE5326PL253629
Trailer 3 2023 Kentucky Model FVCC-D Drop Frame Semi Trailer
1KKVE5326PL253628
Trailer 4 2023 Kentucky Model FVCC-D Tandem Axle 53'
1KKVE5326PL254349
Trailer 5 2023 Kentucky Model FVCC-D Drop Frame Semi Trailer
1KKVE5321PL254350

The Debtors seek to sell Trailers 2 and 4 to Piepho Moving &
Storage, Inc. for the purchase price of $80,000 per trailer.

The Debtors seek to sell Trailers 1 and 3 to Siracusa Moving &
Storage for $85,000 per trailer and Trailer 5 to Siracusa for
$76,000.

The Trailers are encumbered by the liens of Highland Capital
Corporation. The debt on each of the trailers is $73,120.96.

The Debtors have determined that the sale of the Trailers to the
Purchasers is in the best interests of the Debtors, their estates,
and all creditors. The Debtors believe that the Purchase Price is
fair, reasonable, and is the highest and best price for the
Trailers.

            About First Class Moving Systems, Inc.

First Class Moving Systems Inc. is a professional moving company
offering residential and commercial moving services, as well as
packing, logistics, and storage solutions. The Company has
locations in Tampa, Miami/Fort Lauderdale, Gulfport, MS, Orlando,
FL, and Bound Brook, NJ.

First Class Moving Systems Inc. sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 25-02243)
on April 11, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Roberta A. Colton handles the case.

The Debtor is represented by Scott A. Stichter, Esq. and Amy Denton
Mayer, Esq. at STICHTER RIEDEL BLAIN & POSTLER, P.A.


FOUR HATS: Seeks to Hire Jones & Walden LLC as Counsel
------------------------------------------------------
Four Hats Inc. seeks approval from the U.S. Bankruptcy Court for
the Northern District of Georgia to employ Jones & Walden LLC as
counsel.

The firm will provide these services:

     a. preparing pleadings and applications;

     b. conducting of examination;

     c. advising the Debtor of its rights, duties and obligations
as a debtor-in-possession;

     d. consulting and representing the Debtor with respect to a
Chapter 11 plan;

     e. performing those legal services incidental and necessary to
the day-to-day operations of the Debtor's business, including, but
not limited to, institution and prosecution of necessary legal
proceedings, and general business legal advice and assistance; and

     f. taking any and all other action incident to the proper
preservation and administration of the Debtor's estate and
business.

The firm will be paid at these rates:

        Attorneys                   $350 to $500 per hour
        Paralegals and law clerks   $150 to $250 per hour

The firm holds a retainer in the amount of $45,812.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Leslie M. Pineyro, Esq., a partner at Jones & Walden LLC, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Leslie M. Pineyro, Esq.
     Jones & Walden LLC
     699 Piedmont Avenue, NE
     Atlanta, GA 30308
     Tel: (404) 564-9300
     Email: lpineyro@joneswalden.com

              About Four Hats Inc.

Four Hats Inc. is a veteran-owned company that specializes in
providing traffic control services and equipment. Established in
2015, the Company operates in Georgia and Texas, serving industries
such as construction, utilities, film and special events, and
emergency response. Four Hats Inc. is committed to ensuring safety
and efficiency through certified professionals handling traffic
management solutions like flagging, lane shifts, utility crossings,
and detours.

Four Hats Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr.  ) on April 15, 2025. In its petition, the
Debtor reports estimated assets and liabilities between $1 million
and $10 million each.

The Debtor is represented by Leslie Pineyro, Esq. at JONES & WALDEN
LLC.


FREE SPEECH: Alex Jones Seeks Restart of Infowars Assets Auction
----------------------------------------------------------------
James Nani of Bloomberg Law reports that Alex Jones has asked a
bankruptcy court to reconsider its decision to halt the auction of
Infowars' assets, arguing that a standard Chapter 7 sale would
provide the highest return for creditors. In a motion filed Monday,
April 28, 2025, in the U.S. Bankruptcy Court for the Southern
District of Texas, Jones said the court's earlier ruling voiding
the asset sale process should be reversed, as it has created
confusion and disrupted the case's progress. His renewed push to
restart the auction follows a separate move by the Sandy Hook
families last October 2024 to appoint a receiver in Texas state
court to enforce their judgment. That case has since been
transferred to the bankruptcy court in Houston.

Last September 2024, Judge Christopher Lopez authorized Chapter 7
trustee Christopher Murray to take control of the assets of Free
Speech Systems, Infowars' parent company. But in February 2025,
Lopez reversed that order, citing a lack of confidence in the sale
process, effectively shutting down the auction, according to
Bloomberg Law.

Previously, the Sandy Hook families supported a bid from Global
Tetrahedron LLC, parent of The Onion, to acquire Infowars' assets.
That offer was rejected due to transparency issues. A later $8
million proposal from First United American Cos. LLC—operator of
ShopAlexJones.com—was also denied, the report states.

Jones now argues that Judge Lopez lacked jurisdiction to cancel the
original order because it is under appeal. He called the reversal
disruptive and proposed restarting the auction, possibly under a
new trustee. Jones also accused the trustee and the families of
misusing the bankruptcy process to silence him and dismantle his
media brand, Bloomberg Law reports.

Lawyers for the trustee and the families have not yet commented.

Jones is represented by Broocks Law Firm PLLC and Jordan & Ortiz
PC. The trustee is represented by Jones Murray LLP and Porter
Hedges LLP. The Sandy Hook families are represented by multiple
firms, including Cain & Skarnulis PLLC, Koskoff Koskoff & Bieder
PC, Paul Weiss, Willkie Farr & Gallagher LLP, Lawson & Moshenberg
PLLC, and Chamberlain Hrdlicka.

The case is Alexander E. Jones, Bankr. S.D. Tex., No. 22-33553,
motion filed April 28, 2025.

               About Free Speech Systems

Free Speech Systems LLC is a broadcast media production and
distribution company that provides broadcasting aural programs by
radio to the public. Free Speech Systems is a family-run business
founded by Alex Jones.

FSS is presently engaged in the business of producing and
syndicating Jones' radio and video talk shows and selling products
targeted to Jones' loyal fan base via the Internet. Today, FSS
produces Alex Jones' syndicated news/talk show (The Alex Jones
Show) from Austin, Texas, which airs via the Genesis Communications
Network on over 100 radio stations across the United States and via
the internet through websites including Infowars.com.

Due to the content of Alex Jones' shows, Jones and FSS have faced
an all-out ban of Infowars from mainstream online spaces. Shunning
from financial institutions and banning Jones and FSS from major
tech companies began in 2018.

Conspiracy theorist Alex Jones has been sued by victims' family
members over Jones' lies that the 2012 Sandy Hook Elementary School
shooting was a hoax.

Jones' InfoW LLC and affiliates, IWHealth, LLC and Prison Planet
TV, LLC, filed petitions under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 22-60020) on April
18, 2022.



FTX TRADING: Ch. 11 Trust Wants to Keep Customer Data Confidential
------------------------------------------------------------------
Jeff Montgomery of Law360 reports that in a near-deadline filing,
the FTX bankruptcy recovery trust has requested a seventh extension
of a mid-2023 order from the U.S. Bankruptcy Court in Delaware that
permits the continued confidentiality of information for its 9
million customers, citing the information's enduring value to the
bankruptcy estate.

                      About FTX Trading Ltd.

FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.

Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.

Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal amid reports on FTX regarding mishandled customer funds and
alleged US agency investigations.

At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step
aside, and restructuring vet John J. Ray III was quickly named new
CEO.

FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.

FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year. According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets. However, only
$900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.

The Hon. John T. Dorsey is the case judge.

The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home-Index

The official committee of unsecured creditors tapped Paul Hastings
as bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as
Delaware and conflicts counsel; FTI Consulting, Inc. as financial
advisor; and Jefferies, LLC as investment banker.

Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory
T. Donilon, Edward L. Schnitzer, and David M. Banker, is
representing Sam Bankman-Fried in the Chapter 11 cases. White
collar crime specialist Mark S. Cohen has reportedly been hired to
represent SBF in litigation. Lawyers at Paul Weiss previously
represented SBF but later renounced representing the entrepreneur
due to a conflict of interest.


GEDEN HOLDINGS: Chapter 15 Case Summary
---------------------------------------
Chapter 15 Debtor:          Geden Holdings, Ltd.
                            No. 4 Saint Andrews Street, VLT 1341
                            Valletta, Malta

Case No.:                   25-90138

Business Description:       Geden Holdings Ltd. is a holding
                            company primarily engaged in acquiring
                            and subscribing to shares of its
                            subsidiary firms, which operate in the
                            international shipping market.  These
                            subsidiaries charter both owned and
                            third-party vessels to transport oil
                            products and dry cargo.  Geden also
                            functions as the group's treasurer,
                            borrowing from financial institutions
                            to fund its subsidiaries.

Chapter 15 Petition Date:   April 28, 2025

Court:                      United States Bankruptcy Court
                            Southern District of Texas

Judge:                      Hon. Alfredo R Perez

Foreign Representative:     Dr. Reuben Balzan
                            No. 4 Saint Andrews Street, VLT 1341
                            Valletta, Malta

Foreign Proceeding:         Court-Ordered Liquidation in Malta
                            Before the First Hall of the Civil
                            Court

Foreign
Representative's
Counsel:                    Edward A. Clarkson, III, Esq.
                            Matthew S. Okin, Esq.
                            Kelley K. Edwards, Esq.
                            OKIN ADAMS BARTLETT CURRY, LLP
                            1113 Vine Street
                            Houston, TX 77007
                            Tel: 713-255-8884
                            Fax: 346-247-7158
                            Email: eclarkson@okinadams.com
                                   mokin@okinadams.com
                                   kedwards@okinadams.com

Estimated Assets:           Unknown

Estimated Debt:             Unknown

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

https://www.pacermonitor.com/view/I7FDIKY/Geden_Holdings_Ltd__txsbke-25-90138__0001.0.pdf?mcid=tGE4TAMA


GERMANIA FARM: A.M. Best Affirms B(Fair) Fin. Strength Rating
-------------------------------------------------------------
AM Best has removed from under review with negative implications
and affirmed the Financial Strength Rating (FSR) of B (Fair) and
the Long-Term Issuer Credit Ratings (Long-Term ICR) of "bb+" (Fair)
of Germania Farm Mutual Insurance Association and its subsidiaries:
Germania Fire & Casualty Company, Germania Insurance Company and
Germania Select Insurance Company. Collectively, these companies
comprise Germania Mutual Group (Germania). Concurrently, AM Best
has removed from under review with negative implications and
affirmed the FSR of B (Fair) and the Long-Term ICR of "bb+" (Fair)
of Germania Property & Casualty Insurance Company (GPC), a wholly
owned subsidiary of Germania Farm Mutual Insurance Association. At
the same time, AM Best has removed from under review with negative
implications and affirmed the FSR of B (Fair) and the Long-Term ICR
of "bb+" (Fair) of Germania Life Insurance Company (Germania Life).
The outlook assigned to these Credit Ratings (ratings) is positive.
All companies are domiciled in Brenham, TX.

The ratings of Germania reflect the group's balance sheet strength,
which AM Best assesses as strong, as well as its marginal operating
performance, limited business profile and marginal enterprise risk
management (ERM).

Germania's ratings have been removed from under review with
negative implications following AM Best's completed analysis and
assessment of Germania's financial and operational plans. Following
material capital erosion in 2023, the group's ratings were
downgraded and subsequently placed under review with negative
implications in September 2024. At the time, management had
communicated near-term operational and capital management plans to
correct recent erosion, which included external funding, rate
actions, deductible changes, exposure management and reduced policy
counts. Germania successfully implemented most of these strategies,
excluding external funding, leading to capital levels rebounding in
2024, along with risk-adjusted capitalization, which is considered
very strong, as measured by Best's Capital Adequacy Ratio (BCAR).
While overall improvement has been observed and management's
actions appear to be gaining traction, further improvement is
expected in the near term, particularly regarding significant
moderation of unfavorable underwriting trends and continued
improvement in – and reduced volatility of - risk-adjusted
capitalization.

The positive outlooks reflect AM Best's expectation that Germania
will maintain its current balance sheet strength assessment,
supported by its very strong level of risk-adjusted capitalization,
as well as sufficient capitalization and liquidity at the
consolidated level, while meeting its operating performance
targets.

The ratings of GPC reflect its balance sheet strength, which AM
Best assesses as strong, as well as its adequate operating
performance, limited business profile and marginal ERM.

The ratings of Germania Life reflect its balance sheet strength,
which AM Best assesses as strong, as well as its marginal operating
performance, limited business profile and marginal ERM.


GOAL POINT: Hires Boyer Terry LLC as Bankruptcy Counsel
-------------------------------------------------------
Goal Point Behavior Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Georgia to employ Boyer
Terry LLC as bankruptcy counsel.

The firm will provide these services:

     a. give the Debtor legal advice with respect to its powers and
duties as Debtor-in-Possession in the continued operation of its
business and management of its property;

    b. prepare on behalf of Debtor, as Debtor-in-Possession,
necessary applications, motions, answers, reports, and other legal
papers;

    c. continue existing litigation to which Debtor-in-Possession
may be a party, and to conduct examinations incidental to the
administration of Debtor's estate;

     d. take any and all necessary action for the proper
preservation and administration of the estate;

     e. assist Debtor-in-Possession with the preparation and filing
of a Statement of Financial Affairs and schedules and lists as are
appropriate;

     f. take whatever action is necessary with reference to the use
by Debtor of its property pledged as collateral, including cash
collateral, to preserve the same for the benefit of Debtor and
secured creditors in accordance with the requirements of the
Bankruptcy Code;

    g. assert, as directed by Debtor, claims that Debtor may have
against others;

    h. assist Debtor in connection with claims for taxes made by
governmental units; and

    i. perform other legal services for Debtor, as
Debtor-in-Possession, which may be necessary.

The firm will be paid at these rates:

      Attorney              $350 and $370 per hour
      Paralegals            $125 per hour
      Research Assistants   $100 per hour

The firm received a retainer deposit from Willliam Walton in the
amount of $5,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Wesley J. Boyer, Esq., a partner at Boyer Terry LLC, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Wesley J. Boyer, Esq.
     Boyer Terry LLC
     348 Cotton Avenue, Suite 200
     Macon, GA 31201
     Tel: (478) 742-6481
     Fax: (770) 200-9230
     Email: Wes@BoyerTerry.com

              About Goal Point Behavior Group, LLC

Goal Point Behavior Group LLC is a provider of Applied Behavior
Analysis (ABA) therapy, specializing in services for children with
Autism Spectrum Disorder (ASD) and other developmental
disabilities. The Company's team of certified professionals,
including Behavior Analysts and Speech Language Pathologists,
offers personalized therapy in clinic, at home, and through
telehealth. With a focus on individualized treatment plans, Goal
Point aims to empower families and improve the lives of children
through effective, evidence-based interventions.

Goal Point Bahavior Group LLC in Warner Robins, GA, sought relief
under Chapter 11 of the Bankruptcy Code filed its voluntary
petition for Chapter 11 protection (Bankr. M.D. Ga. Case No.
25-50578) on April 8, 2025, listing $0 to $50,000 in assets and $1
million to $10 million in liabilities. William Walton as president,
signed the petition.

BOYER TERRY LLC serve as the Debtor's legal counsel.


GOOD TO GO: Case Summary & 11 Unsecured Creditors
-------------------------------------------------
Debtor: Good to Go Jamaican Cuisine LLC
        709-711 Howard Street
        Evanston, IL 60202

Business Description: Good To Go Jamaican Cuisine LLC runs a
                      Caribbean restaurant in Evanston, Illinois,
                      offering traditional Jamaican fare.  Founded
                      in 2002, the establishment is known for its
                      signature dishes such as Jerk Chicken,
                      Oxtail, Brown Stew Chicken, Curry Goat, and
                      Jerk Pork.  The venue also features an event
                      space for live music performances and
                      private gatherings.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 25-06446

Judge: Hon. Deborah L Thorne

Debtor's Counsel: William Factor, Esq.
                  THE LAW OFFICE OF WILLIAM J. FACTOR, LTD.
                  105 W. Madison St., Suite 2300
                  Chicago, IL 60602
                  E-mail: wfactor@wfactorlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $100 million to $500 million

Dennis A. Levy, in his capacity as manager, affixed his signature
to the petition.

A full-text copy of the petition, which includes a list of the
Debtor's 11 unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/UUMWIQQ/Good_to_Go_Jamaican_Cuisine_LLC__ilnbke-25-06446__0001.0.pdf?mcid=tGE4TAMA


HEALTHLYNKED CORP: Posts $6.1M Net Loss in 2024, up 506% From 2023
------------------------------------------------------------------
HealthLynked Corp. reported a $6.13 million net loss for 2024, a
506% increase from the prior year's $1.01 million loss, as revenue
declined to $3.01 million in 2024 from $5.72 million the prior
year.  The substantial increase in net loss was largely attributed
to the $2.67 million gain from the sale of its former subsidiary,
ACO Health Partners LLC, in 2023 -- without a similar gain in 2024
-- along with a decline in revenue and higher impairment charges.

Through Dec. 31, 2024, HealthLynked financed its operations
primarily through the sale of common stock, convertible and
non-convertible promissory notes, government-issued debt, and
related party debt.

As of Dec. 31, 2024, the Company had $2.22 million in total assets,
$5.35 million in total liabilities, and a total shareholders'
deficit of $3.13 million.  As of Dec. 31, 2024, the Company had
cash balances of $76,241, a working capital deficit of $3.05 and an
accumulated deficit of $48.16 million.  For the year ended Dec. 31,
2024, the Company used cash from operating activities of $3.49
million.  The Company expects to continue to incur net losses and
to have significant cash outflows for at least the next 12 months.

HealthLynked cautioned that available cash may not be sufficient to
fund operations for the next 12 months, highlighting the need for
additional capital.  If the Company fails to secure additional
funding to support its business plan, it may delay or scale back
commercialization and development programs, or limit or cease
operations.

In an audit report dated March 31, 2025, the Company's auditor RBSM
LLP, issued a "going concern" qualification citing that the Company
has recurring losses from operations, limited cash flow, and an
accumulated deficit.  These conditions raise substantial doubt
about the Company's 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/1680139/000121390025026262/ea0235172-10k_health.htm

                        About HealthLynked Corp.

HealthLynked Corp. is a healthcare technology company based in
Nevada, founded on Aug. 6, 2014.  It operates in three main
divisions: Digital Healthcare, Medical Distribution, and Health
Services, focusing on enhancing patient care, reducing costs, and
creating long-term value for shareholders.


HILLENBRAND INC: Egan-Jones Retains BB+ Senior Unsecured Ratings
----------------------------------------------------------------
Egan-Jones Ratings Company on April 21, 2025, maintained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Hillenbrand, Inc.

Headquartered in Batesville, Indiana, Hillenbrand, Inc. provides
industrial processing equipment, systems, and solutions.


HYPERTECH INC: Seeks to Hire EmergeLaw PLC as Bankruptcy Counsel
----------------------------------------------------------------
Hypertech, Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for the Middle District of Tennessee to hire
EmergeLaw, PLC as bankruptcy counsel.

The firm's services include:

     a. providing legal advice with respect to the rights, powers
and duties of Debtors in the management of their property;

     b. investigating and, if necessary, instituting legal action
on behalf of the Debtors to collect and recover assets of the
estates of Debtors;

     c. preparing all necessary pleadings, orders and reports with
respect to this proceeding and to render all other necessary or
proper legal services;

     d. assisting and counseling the Debtors in the preparation,
presentation and confirmation of their plan;

     e. representing the Debtors as may be necessary to protect
their interests; and

     f. performing all other legal services that may be necessary
and appropriate in the general administration of the Debtors'
estates.

Robert Gonzales's standard hourly rate is $725. Senior paralegal
Angela Willoughby's standard hourly rate is $225.

The firm received $55,214 from Debtor Hypertech, Inc. and $50,000
from Debtor High Point, LLC, for a total of $105,214.

Robert Gonzales, Esq., a partner at EmergeLaw, disclosed in a court
filing that the firm is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Robert J. Gonzales, Esq.
     Hannah L. Berny, Esq.
     EMERGELAW, PLLC
     4235 Hillsboro Pike, Suite 350
     Nashville, TN 37215
     Tel: (615) 815-1535
     Email: robert@emerge.law
            hannah@emerge.law

        About Hypertech Inc.

Hypertech Inc. is a U.S.-based automotive technology company that
develops high-performance engine tuning products for vehicles with
computer-controlled systems. Unlike traditional aftermarket firms
that focus on mechanical upgrades, Hypertech specializes in
software-based enhancements by recalibrating a vehicle's electronic
control units (ECUs) for improved power, fuel efficiency, and
drivability. The Company's team includes engineers and performance
enthusiasts who apply advanced knowledge of electrical engineering
and computer science to create products like Power Chips and the
Power Programmer.

Hypertech, Inc. and its affiliates, High Point, LLC, and SF
Technologies Inc., sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Tenn. M.D. Tenn. Lead Case No.
25-01562) on April 11, 2025. In its petition, Hypertech reported
between $1 million and $10 million in both assets and liabilities.

Judge Charles M. Walker handles the cases.

The Debtors are represented by Robert J. Gonzales, Esq. at
EmergeLaw, PLC.


I A P CONSTRUCTION: Hires David R. Herzog LLC as Counsel
--------------------------------------------------------
I A P Construction, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to employ Law Office of
David R. Herzog, LLC as counsel.

The firm will render these services:

     (a) give the Debtor legal advice with respect to its duties,
powers and responsibilities;

     (b) assist the Debtor in the negotiation, formulation and
drafting of a plan of reorganization;

     (c) appear for, prosecute, defend and represent the Debtor's
interests in matters arising in or related to this case;

     (d) prepare all necessary legal papers as may be necessary in
connection with this case; and

     (e) perform such other legal services as may be required.

The firm will be paid at its hourly rates plus expenses.

David Herzog, Esq., disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     David R. Herzog, Esq.
     Law Office of David R. Herzog, LLC
     53 W. Jackson Blvd., Suite 1442
     Chicago, IL 60604
     Tel: (312) 977-1600
     Email: drh@dherzoglaw.com

              About I A P Construction, Inc.

I A P Construction, Inc. filed Chapter 11 petition (Bankr. N.D.
Ill. Case No. 25-02709) on February 24, 2025, listing up to $1
million in both assets and liabilities. Ian Proce, president of I A
P, signed the petition.

Judge Deborah L. Thorne oversees the case.

David R. Herzog, Esq., represents the Debtor as legal counsel.


IDEANOMICS INC: Hires Doeren Mayhew as Tax Service Provider
-----------------------------------------------------------
Ideanomics, Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Doeren
Mayhew Advisors, LLC as tax service provider.

Doeren will perform certain tax and accounting services for the
Debtors, including federal and state income tax return preparation,
and federal and state income tax provision.

Doeren agrees to be paid at its customary hourly rates for the
respective services, subject to agreed caps of $125,000 for 2023
and 2024 tax compliance services.

The firm's customary hourly rates:

     Tax Principal           $600 to $950
     Senior Tax Manager      $450 to $695
     Tax Manager             $390 to $620
     Senior Tax Associates   $290 to $525
     Tax Associates          $160 to $490

As disclosed in court filings, Doeren Mayhew does not represent
interests adverse to the Debtor and its estate in the matter upon
which the firm is to be engaged.

The firm can be reached through:

     Mike Czarnota, CPA
     Doeren Mayhew, CPAs
     305 W. Big Beaver Road, Suite 200
     Troy, MI 48084
     Phone: (888) 870-9873
     Email: simon@doeren.com

          About Ideanomics, Inc.

New York, N.Y.-based Ideanomics, Inc. is a global electric vehicle
company that is focused on driving the adoption of electric
commercial vehicles and associated sustainable energy consumption.
It is made up of 5 subsidiaries including: VIA Motors, Solectrac,
Treeletrik, Wave, and US Hybrid.

Ideanomics Inc. and seven of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 24-12728) on December 4, 2024. In its petition, the Debtor
reports assets between $50 million and $100 million and liabilities
ranging from $100 million to $500 million.

Foley & Lardner LLP serves as the Debtors' general bankruptcy
counsel and Ashby & Geddes, P.A. acts as the Debtors' Delaware
co-counsel. The Debtors tapped Epiq Corporate Restructuring as
noticing and claims agent. Riveron Management Services, LLC is the
Debtors' CRO and financial advisor, and SSG Advisors, LLC is the
Debtors' investment banker and financial adviser.


INTEGRATED CARE: Hires Martin Starnes & Associates as Auditor
-------------------------------------------------------------
Integrated Care of Greater Hickory, Inc. seeks approval from the
U.S. Bankruptcy Court for the Eastern District of North Carolina to
employ Martin Starnes & Associates, CPAs, P.A. as auditor.

The Debtor requires the services of the firm for its 2024 audit, in
order to maintain its eligibility for certain federal grant funds.

The firm will be paid $60,000, but agreed to be paid in monthly
installments of $10,000 beginning in May 2025 and ending October
2025.

As of the Petition Date, an amount remained owing by the Debtor
pursuant to the 2023 Agreement, in the amount of $45,000.

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

The firm can be reached at:

     Michael Edwards
     Martin Starnes & Associates, CPAs, P.A.
     730 13th Avenue Drive SE
     Hickory, NC 28602
     Tel: (828) 327-2727
     Email: medwards@msa.cpa

         About Integrated Care of Greater Hickory, Inc.

Integrated Care of Greater Hickory Inc. is a healthcare
organization in North Carolina, which provides comprehensive
support for adults, children, adolescents, and their families
facing various behavioral health challenges, such as addiction,
depression, anxiety, trauma, and more. The organization's primary
goal is to promote lifelong recovery through a range of
interventions, rather than just offering treatment. Additionally,
ICGH provides Peer Support Services, which are led by Certified
Peer Support Specialists -- individuals with personal,
transformative experiences who assist others struggling with mental
health issues, trauma, or substance use.

Integrated Care of Greater Hickory filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. E.D.N.C. Case No.
25-00629) on February 21, 2025, listing between $500,000 and $1
million in assets and between $1 million and $10 million in
liabilities.

The Debtor tapped the Law Offices of Oliver & Cheek, PLLC as
bankruptcy counsel and Cunningham Law, PLLC as special counsel.


J.D. SAC CONSULTING: Gets OK to Use Cash Collateral Until May 20
----------------------------------------------------------------
J.D. SAC Consulting, LLC got the green light from the U.S.
Bankruptcy Court for the Northern District of Georgia, Atlanta
Division, to use cash collateral.

The order penned by Judge Jeffery Cavender authorized the Debtor's
interim use of cash collateral for the period from April 25 to May
20.

The Debtor needs to use cash collateral to cover ordinary business
and administrative expenses according to its budget.

The Debtor will use revenue potentially subject to claims by Gulf
Coast Bank and Trust Company, the Internal Revenue Service, and
Revenued, LLC. Although Gulf Coast is believed to hold a
first-priority lien, the Debtor asserts that there are currently no
outstanding amounts owed.

As protection for the use of their cash collateral, these lenders
were granted replacement lien on all property acquired by the
Debtor after its Chapter 11 filing that are similar to their
pre-bankruptcy collateral.  

The final hearing is set for May 20.

                     About J.D. SAC Consulting

J.D. SAC Consulting, LLC is an electrical and lighting contractor
based in Kennesaw, Georgia. It provides commercial electrical
services, lighting upgrades, and EV charger installations across 13
U.S. states.  Its clients include major retailers such as Walmart
and Hertz.

J.D. SAC Consulting filed Chapter 11 petition (Bankr. N.D. Ga. Case
No. 25-54195) on April 17, 2025, listing up to $50,000 in assets
and between $1 million and $10 million in liabilities. James
Elbert, managing member, signed the petition.

Judge Jeffery W. Cavender oversees the case.

William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC
represents the Debtor as legal counsel.


JBRI CONSTRUCTION: Gets Extension to Access Cash Collateral
-----------------------------------------------------------
JBRI Construction Services, LLC received another extension from the
U.S. Bankruptcy Court for the Southern District of Texas, Houston
Division, to use cash collateral.

At the hearing held on April 23, the court granted the Debtor's
motion for continued use of cash collateral on an interim basis and
set a further hearing on the motion for May 13.

The court previously entered interim and final orders to use cash
collateral negotiated and approved primarily with M&T Equipment
Finance Corporation, the senior secured creditor holding a blanket
lien and title to key equipment. Potential creditors FC Marketplace
and QFS Capital neither participated in hearings nor asserted
interests in the cash collateral and were excluded from
post-petition protections.

Under the final cash collateral order, M&T was granted replacement
liens and monthly interest payments of $4,111, and it maintained
title and lien positions on equipment valued significantly above
the Debtor's outstanding debt of about $71,448—creating an equity
cushion of approximately $413,948. Despite the cushion, M&T
recently filed a notice of default due to missed payments in
February and March 2025, which the Debtor attributes to unexpected
withholdings from general contractors covering pre-petition debts
to suppliers and subcontractors, depriving it of over $111,000 in
anticipated revenue.

Although JBRI offered to allow M&T to sell a valuable long reach
excavator to satisfy the debt, M&T declined to permit continued
cash collateral use during the sale process. Now facing a payroll
shortfall by April 25, 2025, the Debtor argued that M&T remains
oversecured and adequately protected through its existing liens and
the equity cushion.

                 About JBRI Construction Services

JBRI Construction Services, LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-35173) on
November 4, 2024, with total assets of $1,240,722 and total
liabilities of $1,597,807. Thomas Benevegnu, president of JBRI,
signed the petition.

Judge Eduardo V. Rodriguez handles the case.

The Debtor is represented by Julie M. Koenig, Esq., at Cooper &
Scully, P.C.


JML ENGINEERING: Unsecured Creditors to Split $60K over 5 Years
---------------------------------------------------------------
JML Engineering & Construction Inc. filed with the U.S. Bankruptcy
Court for the Northern District of California a Plan of
Reorganization for Small Business under Subchapter V dated March
28, 2025.

The Debtor is a California Corporation. Since 2010, the Debtor has
been in the business of: engineering and construction.

The Debtor's financial projections show that the Debtor will have
projected disposable income of $18,622.99 per month starting on the
Effective Date.

The final Plan payment is expected to be paid on July, 2030, which
is anticipated to be 60 months after the effective date (except for
the IRS priority debt which will be paid over 8 years).

This Plan of Reorganization proposes to pay creditors of the Debtor
from cash flow from operations, future income, and accounts
receivable.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately $60,000.00. This Plan also provides for the
payment of administrative and priority claims.

Class 3 consists of Non-priority unsecured creditors. Holders of
general unsecured claims in Class 3 will be paid from a Pot of
$60,000.00 over five years, at the rate of $1,000.00 per month,
with the first payment of $1,000.00 being due on the Plan's
Effective Date. This Class is impaired.

Class 4 consists of Equity security holders of the Debtor. The
Debtor’s responsible individual (Mr. John Michael Shearer) is the
100% equity owner of the Debtor. His interest will remain the
same/unchanged as of the Plan's Effective Date.

Distributions to Creditors under this Plan will be funded primarily
from:

     * The Debtor's cash on hand on the Plan's Effective Date;

     * Net income from the continued operations of the business.

     * Future income; and

     * Collection of Accounts Receivable.

The Plan proposed to pay creditors using the net disposable income
of the Debtor over the 5-year period after the Plan's Effective
Date. This Plan offers a Pot recovery of $60,000.00 to the Class 3
(general unsecured and non-insider creditors/claimants) which is
3.2%, compared to 0% if the Debtor's assets were sold in a
hypothetical Chapter 7 liquidation and the proceeds paid out to
each respective creditor.

The Debtor shall become the Reorganized Debtor ("RD") on the Plan's
Effective Date and the RD shall be responsible for managing for
managing its assets and financial affairs. On the Plan's Effective
Date, the Equity Interest Holder shall remain in the same role of
the RD with the same proportionate equity that existed prior to the
filing of this Bankruptcy Case.

Mr. John Michael Shearer, owner and manager of the Debtor (as well
as the designated responsible individual), shall be the disbursing
agent for all obligations of the RD under this Plan and shall NOT
be compensated for services as the disbursing agent.

A full-text copy of the Plan of Reorganization dated March 28, 2025
is available at https://urlcurt.com/u?l=4WMdBN from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     C. Alex Naegele, Esq.
     C. Alex Naegele, A Professional Law Corporation
     95 South Market Street, Suite 300
     San Jose, CA, 95113
     Telephone: (408) 995-3224
     Facsimile: (408) 890-4645
     Email: alex@canlawcorp.com

        About JML Engineering & Construction Inc.

JML Engineering & Construction Inc. is a Specialty Contractor that
serves the San Ramon, CA area and specializes in paving and
surfacing, landscaping, concrete, and irrigation.

JML Engineering & Construction Inc. sought relief under Subchapter
V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case
No. 24-41729) on October 30, 2024. In the petition filed by John
Michael Shearer, as CEO and CFO, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge William J. Lafferty handles the case.

The Debtor is represented by C. Alex Naegele, Esq. at C. ALEX
NAEGLE.


JOE'S SPORTS: Gets Final OK to Use Cash Collateral
--------------------------------------------------
Joe's Sports Bar, Inc. received final approval from the U.S.
Bankruptcy Court for the Western District of North Carolina to use
cash collateral.

The order signed by Judge Ashley Austin Edwards authorized the
company to use cash collateral to pay its operating expenses
through the effective date of any confirmed Chapter 11 plan of
reorganization.

As protection, the U.S. Small Business Administration and other
secured creditors were granted replacement liens on post-petition
assets to the same extent and with the same priority as their
pre-bankruptcy liens.

In addition, SBA will continue to receive a monthly payment of
$1,078.77.

                    About Joe's Sports Bar Inc.

Joe's Sports Bar Inc., also known as Village Corner, is a member of
the Scratch Made Hospitality Group located in Concord, N.C. The
restaurant serves a diverse range of breakfast and lunch dishes,
including options like "Biscuit Bennys," "Scrambles," "Handhelds,"
and "Plates/Bowls," with special dishes such as fried chicken,
pulled pork, and shrimp and grits.

Joe's Sports Bar sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. N.C. Case No. 25-30207) on March 4,
2025. In its petition, the Debtor reported up to $50,000 in assets
and between $1 million and $10 million in liabilities.

Judge George R. Hodges handles the case.

The Debtor is represented by:

     John C. Woodman, Esq.
     Essex Richards
     1701 South Boulevard
     Charlotte, NC 28203
     Tel: (704) 377-4300
     Fax: (704) 372-1357
     Email: jwoodman@essexrichards.com


JUXTAPOSE HOSPITALITY: Seeks Subchapter V Bankruptcy in Georgia
---------------------------------------------------------------
On April 29, 2025, Juxtapose Hospitality Group Inc. filed Chapter
11 protection in the U.S. Bankruptcy Court for the Northern
District of Georgia. According to court filing, the
Debtor reports between $500,000 and $1 million in debt owed to
1 and 49 creditors. The petition states funds will be available to
unsecured creditors.

           About Juxtapose Hospitality Group Inc.

Juxtapose Hospitality Group Inc. is an Atlanta-based hospitality
company

Juxtapose Hospitality Group Inc. sought relief under Subchapter V
of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No.
25-54709) on April 29, 2025. In its petition, the Debtor reports
estimated assets between $100,000 and $500,000 and estimated
liabilities between $500,000 and $1 million.

The Debtor is represented by Michael D. Robl, Esq. at Robl Law
Group LLC.


KAISER GYPSUM: 4tn Circ. Okays Asbestos Chapter 11 Plan
-------------------------------------------------------
Ganesh Setty of Law360 reports that on April 29, 2025, the Fourth
Circuit upheld the Chapter 11 bankruptcy plan for Kaiser Gypsum Co.
Inc. and Hanson Permanente Cement Inc., both of which have faced
numerous asbestos-related injury claims. The court agreed with
lower courts that the plan was proposed in good faith, rejecting
objections raised by one of the insurers.

                      About Kaiser Gypsum

Kaiser Gypsum Company, Inc.'s principal business consisted of
manufacturing and marketing gypsum plaster, gypsum lath and gypsum
wallboard. It has no current business operations other than
managing its legacy asbestos-related and environmental liabilities.
Kaiser Gypsum has no material tangible assets.

Hanson Permanente Cement, Inc.'s primary business was the
manufacture and sale of Portland cement products. It is a wholly
owned, indirect subsidiary of non-debtor Lehigh Hanson, Inc.

HPCI is the direct parent of Kaiser Gypsum as well as non-debtor
Hanson Micronesia Cement, Inc. and non-debtor Hanson Permanente
Cement of Guam, Inc., the operating subsidiaries. Non-debtor
Permanente Cement Company, which has no assets or operations, is
also a wholly owned subsidiary of HPCI.

Kaiser Gypsum and HPCI sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D.N.C. Case Nos. 16-31602 and 16-10414)
on Sept. 30, 2016.  Charles E. McChesney, II, vice president and
secretary, signed the petitions.

The Debtors tapped Rayburn Cooper & Durham P.A. and Jones Day as
their bankruptcy counsel, NERA Economic Consulting as consultant,
and PricewaterhouseCoopers LLP as financial advisor. Cook Law Firm
P.C., K&L Gates LLP and Miller Nash Graham & Dunn LLP serve as
special counsel.

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

The U.S. Bankruptcy Administrator for the Western District of North
Carolina appointed an official committee of unsecured creditors.
The creditors' committee hired Blank Rome LLP and Moon Wright &
Houston, PLLC as bankruptcy counsel.

The official committee representing asbestos personal injury
claimants retained Caplin & Drysdale, Chartered as its legal
counsel.

Lawrence Fitzpatrick, the future claimants' representative, tapped
Young Conaway Stargatt & Taylor, LLP as his bankruptcy counsel,
Alexander Ricks PLLC as local counsel, and Ankura Consulting Group,
LLC as claims evaluation consultant.


KENTUCKY INVESTMENT: Seeks Subchapter V Bankruptcy
--------------------------------------------------
On April 29, 2025, Kentucky Investment Holdings LLC filed Chapter
11 protection in the U.S. Bankruptcy Court for the Eastern
District of Kentucky. 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 Kentucky Investment Holdings LLC

Kentucky Investment Holdings LLC is an investment holding company
based in Prestonsburg, Kentucky.

Kentucky Investment Holdings LLC sought relief under Subchapter V
of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ky. Case
No. 25-70165) on April 29, 2025. In its petition, the Debtor
reports estimated assets and liabilities between $1 million and $10
million each.

Honorable Bankruptcy Judge Gregory R. Schaaf handles the case.

The Debtor is represented by Noah R. Friend, Esq. at Noah R. Friend
Law Firm, PLLC.


KINA LANE: Seeks to Hire Billion Law as Bankruptcy Counsel
----------------------------------------------------------
Kina Lane Enterprises, LLC and Goldsby Enterprises, LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to hire Billion LLC d/b/a Billion Law as counsel.

The firm's services include:

     a. providing legal advice regarding the Debtor's insolvency
proceeding;

     b. preparing, reviewing and commenting on drafts of documents
to ensure compliance with Delaware local rules, practices, and
procedures and filing the same;

     c. preparing legal papers;

     d. preparing hearing binders of documents and pleadings,
printing of documents and pleadings for hearings;

     e. appearing in court and at any meeting of creditors on
behalf of the Debtor;

     f. monitoring the docket and responding to filings;

     g. preparing and maintaining critical dates memorandum to
monitor pending applications, motions, hearing dates and other
matters; and

     h. handling inquiries and calls from creditors and counsel to
interested parties regarding pending matters and the general status
of the Debtor's case.

The firm will charge these hourly fees:

     Attorneys              $775 to $965 per hour
     Paraprofessionals      $375 per hour

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

The firm can be reached through:

     Mark M. Billion, Esq.
     Billion Law
     1073 S. Governors Ave.
     Dover, DE 19904
     Phone: (302) 428-9400
     Fax: (302) 674-2099
     Email: markbillion@billionlaw.com

       About Kina Lane Enterprises

Kina Lane Enterprises, LLC filed Chapter 11 petition (Bankr. D.
Del. Case No. 25-10665) on April 7, 2025, listing up to $1 million
in assets and up to $50,000 in liabilities. Kina Lane, sole member
of Kina Lane Enterprises, signed the petition.

Judge Craig T. Goldblatt oversees the case.

Mark Billion, Esq., at Billion Law, represents the Debtor as
bankruptcy counsel.


KOCHER FOODS: Hires Johnson Legal Services PLLC as Counsel
----------------------------------------------------------
Kocher Foods International, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of West Virginia to
employ Johnson Legal Services, PLLC as counsel.

The firm's services include:

   -- advising the Debtor on legal rights and obligations;

   -- preparing and filing necessary documents assisting in the
formulation of a plan of reorganization; and

   -- render such other tasks that may be required during the
pendency of the Chapter 11 case.

The firm will be paid at the rate of $400 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The firm can be reached at:

     Ryan W. Johnson, Esq.
     Johnson Legal Services, PLLC
     1049 Market Street
     Wheeling, WV 26003
     Tel: (304) 212-4950
     Email: Johnson.legal.services.pllc@gmail.com

              About Kocher Foods International, Inc.

Kocher Foods International, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. N.D.W.V. Case No. 5:25-bk-00199) on April 16,
2025. The Debtor hires Johnson Legal Services, PLLC as counsel.



KOGNITIV US: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The U.S. Trustee for Region 3 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Kognitiv US, LLC.

                         About Kognitiv US

Kognitiv specializes in AI-powered loyalty and marketing
technology, offering solutions for customer engagement, lifecycle
optimization, and ad activation. Founded in 2008, its platform
drives personalization at scale, improving ROI with real-time data
insights.

Kognitiv US sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Case No. 25-10648) on April 2, 2025. In its
petition, the Debtor reported $10 million to $50 million in assets
and liabilities. Tim Sullivan, as authorized signatory, affixed his
signature to the petition.

The Hon. Brendan Linehan Shannon presides over the case.

The Debtor is represented by Faegre Drinker Biddle & Reath LLP.


KOSMOS ENERGY: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable
--------------------------------------------------------------
Fitch Ratings has affirmed Kosmos Energy Ltd.'s (Kosmos) Long-Term
Issuer Default Rating (IDR) at 'B+' and its senior unsecured rating
at 'B+'. The Outlook on the IDR is Stable. The Recovery Rating is
'RR4'.

Kosmos's IDR reflects its exposure to countries with high
regulatory risks, which is partly counterbalanced by geographical
diversification, modest operational scale, average unit economics,
and moderate leverage. The company has a fairly strong reserve
life, plus comfortable liquidity with balanced maturities and
projected positive free cash flow (FCF) in 2025-2027.

Key Rating Drivers

Tortue Project Milestone: Kosmos has announced the successful
loading of the first liquefied natural gas (LNG) cargo from the
Greater Tortue Ahmeyim (GTA) project, located offshore Mauritania
and Senegal. The LNG was transferred to the "British Sponsor"
carrier from Golar LNG's FLNG vessel, marking a major milestone
following first gas production in late 2024 and LNG production in
February 2025. Progress with GTA is positive for Kosmos's credit
profile.

Growing Total Production: Kosmos's oil and gas output remained
fairly stable during 2022-2024 at 63-65 thousand barrels of oil
equivalent per day (kboe/d). Fitch expects production to increase
to 85kboe/d in 2026 due to the GTA contribution and higher output.
Higher output is positive for Kosmos's credit profile.

Reducing Capital Intensity: Kosmos's capital intensity will fall
from 2025, once its growth projects become operational. Fitch
projects capex to average about USD400 million a year in 2025-2027,
less than half of the spending in 2023 or 2024, leading to improved
FCF generation.

No Dividends Assumed: Kosmos aims to prioritise internal funding of
capex and debt reduction towards achieving its long-term target of
company-defined net debt at below 1.5x EBITDAX, rather than
focusing on shareholder distributions. Under its current price
assumptions, Fitch does not expect Kosmos to resume shareholder
distributions for 2024-2027.

Tullow Oil Refinancing Credit Positive: Tullow Oil Plc, the
operator of the Jubilee and TEN fields in Ghana (the main source of
Kosmos's production), repaid its senior notes that matured on 1
March 2025. The repayment of the USD493 million principal and
accrued interest was financed through a combination of drawing the
remaining USD270 million from the Glencore facility and using cash
on hand. This repayment is a credit positive development for
Kosmos, as it reduces the risk of production issues at the Jubilee
and TEN fields.

Diversification Offsets Risk in Ghana: Fitch expects over half of
Kosmos's production will be contributed by assets in Ghana for
2025-2027. Exposure to a higher-risk jurisdiction is negative for
Kosmos, but the company has a substantial production base across
the Gulf of Mexico (Gulf of America) and African nations outside
Ghana.

Ghanian Operations Intact: Kosmos's operations in Ghana have
experienced no large-scale disruptions and are supported by robust
contractual arrangements. Ghana's ongoing external debt
restructuring has not hit Kosmos's operations, and the company has
not encountered currency controls in the country. Oil revenues from
Ghana's operations are channelled into its offshore accounts, with
no currency repatriation requirements.

'AAA' Country Ceiling Applied: Fitch expects EBITDA from Kosmos's
operations in the Gulf to be sufficient to cover its gross interest
expense in 2025-2027. Consequently, the applicable Country Ceiling
is that of the US at 'AAA'.

Peer Analysis

Energean Plc (BB-/Stable) is rated one notch higher than Kosmos due
to its significantly higher projected production (peaking at
150,000-160,000boe/d in 2025 following planned divestments) and
reserves, and a large share of contracted sales under long-term
take-or-pay agreements that provide more visibility to its cash
flows. Fitch expects Energean's EBITDA net leverage to be
moderately lower than that of Kosmos at 2x.

Seplat Energy Plc's (B/Stable) production sharply increased
following its announced acquisition of Mobil Producing Nigeria
Unlimited (MPNU), and will exceed that of Kosmos. Fitch upgraded
Seplat to 'B' from 'B-' on 17 April 2025. The upgrade reflected the
upgrade of Nigeria's rating (B/Stable) and upward revision of its
Country Ceiling to 'B'. Seplat's rating remains constrained by
Nigeria's Country Ceiling and the weak operating environment.

The upgrade of Ithaca Energy plc to 'BB-' from 'B' in October 2024
reflected its view that Ithaca's merger with Eni SpA's (A-/Stable)
UK assets is credit positive. The assets increase Ithaca's scale
and operational diversification without adding any debt. Fitch
expects the combined Ithaca to benefit from improved financial
flexibility, aided by its low leverage and conservative financial
policy. Fitch forecasts Ithaca's EBITDA net leverage to remain low
on average at 1x in 2024-2027.

Key Assumptions

Its Rating Assumptions within the Rating Case for the Issuer

- Brent crude oil prices of USD65/bbl in 2025-2027

- Henry hub prices of USD3.25/thousand cubic feet (mcf) in 2025,
USD3/mcf in 2026, and USD2.75/mcf in 2027

- Production increasing to around 85kboe/d in 2026-2027

- Capex averaging around USD400 million in 2025-2027

- No common dividends, in line with Kosmos's long-term leverage
target

Recovery Analysis

Its recovery analysis is based on a going-concern (GC) approach,
which implies that Kosmos will be reorganised rather than
liquidated in a bankruptcy.

The GC EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganisation EBITDA level on which Fitch bases the
enterprise valuation (EV).

Kosmos's GC EBITDA of USD620 million, which includes the company's
full consolidation scope, reflects its view on EBITDA generation
without any hedging and assumption of a fall in the oil and natural
gas prices, followed by a moderate recovery.

Fitch used a distressed EV multiple of 4.0x, which reflects
Kosmos's moderate size with some growth prospects, and the
company's exposure to country risk. Kosmos's senior unsecured notes
are subordinated to its USD1.35 billion reserve based lending
(RBL).

After deducting 10% for administrative claims, its analysis
generated a waterfall-generated recovery computation (WGRC) for
Kosmos's senior unsecured notes in the 'RR4' band, indicating a
'B+' instrument rating.

RATING SENSITIVITIES

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

- EBITDA net leverage over 2.5x on a sustained basis

- Production failing to exceed 80,000boe/d

- Aggressive shareholder distributions or deteriorating liquidity

- EBITDA from outside Ghana failing to cover gross interest
expense

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

- Production increasing to over 100,000boe/d, in combination with
EBITDA net leverage below 1.5x on a sustained basis, supported by a
formal financial policy

Liquidity and Debt Structure

Kosmos has no debt maturities in 2025. Following the April 2024
refinancing of its USD1.35 billion committed (USD900 million drawn
at end-2024) RBL, the latter will start amortising in 2027. The new
USD900 million notes issued in 2024 has further reduced Kosmos's
closest bond maturity. Fitch believes refinancing risk is limited,
due to the company's moderate projected leverage, reducing capital
intensity and projected positive FCF in 2025-2027. Kosmos remains
actively present in the bond market, as underlined by two new
issuances in March 2024 and September 2024.

Issuer Profile

Kosmos is a medium-sized, full-cycle deep-water independent oil and
gas exploration and production company.

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
   -----------               ------         --------   -----
Kosmos Energy Ltd.     LT IDR B+  Affirmed             B+

   senior unsecured    LT     B+  Affirmed    RR4      B+


KYLE CHAPMAN: Files Amendment to Disclosure Statement
-----------------------------------------------------
Kyle Chapman Motor Sales, L.P. and affiliates submitted an Amended
Disclosure Statement describing Plan of Reorganization dated March
31, 2025.

Since the bankruptcy filings, the Debtors continued their normal
operations. Specifically, Chapman Motors continued to sell cars
creating finance receivables. Meanwhile Chapman Motors and KCMS
Premier continued to collect on the existing finance receivables
and Cavalier maintained the real property.

The Debtors completed a liquidation analysis for a total estimated
liquidated amount of $0, not including administration fees in a
Chapter 7 or any other administrative costs, which are estimated at
$685,000.00, including the Trustee's fees and expenses including
preparation of a tax return.

Class 2 consists of Allowed Secured Claim of Frost Bank (Credit
Loan). Frost's claims shall be treated as fully secured and the
Debtor estimates a recovery of 100%. Debtors will roll the
outstanding principal, estimated at $11,300,000, including accrued
interest, bank fees, appraisal fees, and attorney's fees (estimated
at $50,000) into a new principal amount estimated at $11,350,000.
And the entire indebtedness shall accrue interest at a rate of
8.75% per annum. Based upon a 15-year amortization schedule,
starting in June 2025, the monthly payments of $115,000 will pay a
total of approximately $20,418,735.93 with $9,068,735.93 in
interest.

Like in the prior iteration of the Plan, Class 5 Allowed General
Unsecured Claims, including deficiency claims, shall receive a 95%
distribution, which amount shall be paid in monthly payments
beginning in Month 01 of the Plan and ending in Month 08 according
to the projections listed in the Plan payments. The allowed
unsecured claims total $157,488.03.

The Plan is low risk to the creditors. The Debtors' operations have
become more streamlined while they have been in bankruptcy and
paying down a considerable amount on the secured claims of Frost
Bank (approximately $4.5 million).

Paying the weekly adequate protection payments to Frost on the
Credit Loan ($100,000 per week through January 11, 2025 and $60,000
per week thereafter) required the Debtors to operate on limited
cash flow, which will improve under the terms of the proposed Plan.
Between the net income generated from Debtors' operations, the
anticipated expansion of business, the cash on hand, and the sale
of an unencumbered asset, the Debtors will be able to fund the
Plan.

The Bankruptcy Court will hold hearing before the Honorable Shad M.
Robinson, United States Bankruptcy Judge in person at Austin
Courtroom #1, Homer J. Thornberry Federal Judicial Building, 903
San Jacinto Blvd., 3rd Floor, Austin, Texas 78701. The hearing is
scheduled on May 16, 2025 at 10:00 A.M.

The Bankruptcy Court has directed that, in order to be counted for
voting purposes, the Debtors must receive ballot by no later than
5:00 p.m., on May 9, 2025 ("Voting Deadline") via mail service,
fax, or email, unless the Debtor agrees otherwise.

A full-text copy of the Amended Disclosure Statement dated March
31, 2025 is available at https://urlcurt.com/u?l=79dS9Q from
PacerMonitor.com at no charge.

Counsel for the Debtors:

     Todd Headden, Esq.
     Charlie Shelton, Esq.
     HAYWARD PLLC
     7600 Burnet Road, Suite 530
     Austin, TX 78757
     Phone: (737) 881-7100
     Email: theadden@haywardfirm.com
                  cshelton@haywardfirm.com

               About Kyle Chapman Motor Sales

Kyle Chapman Motor Sales, L.P. is a family-owned and operated
automobile dealer in Buda, Texas.

Kyle filed Chapter 11 petition (Bankr. W.D. Tex. Case No. 24-10143)
on Feb. 13, 2024, with $1 million to $10 million in both assets and
liabilities.

Todd Headden, Esq., at Hayward PLLC is the Debtor's legal counsel.


KYTTO ENTERPRISE: Taps Luis R. Carrasquillo as Financial Consultant
-------------------------------------------------------------------
Kytto Enterprise, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Luis R.
Carrasquillo & Co. as financial consultant.

The firm will assist the Debtor in the financial restructuring of
its affairs by providing advice in strategic planning and the
preparation of Debtor's plan of reorganization, monthly operating
reports, disclosure statement and business plan, and participating
in negotiations with Debtor's creditors.

The firm will be paid at these rates:

     Luis R. Carrasquillo, Partner                  $200 per hour
     Marcelo Gutierrez, Senior CPA                  $160 per hour
     Ramon Villafane, External Accountant           $200 per hour
     Zoraida Delgado Díaz, Senior Accountant        $110 per hour
     Arnaldo Morales, Senior Accountant             $100 per hour
     Maria Vera, External Accountant                $75 per hour
     David Sanchez Díaz Accountant                  $95 per hour
     Enid Olmeda, Junior Accountant                 $85 per hour
     Jean Aponte, Senior Accountant                 $75 per hour
     Luis R Guzman, Accountant                      $60 per hour
     Rosalie Hernandez Administrative and Support   $45 per hour

The firm was paid a retainer in the amount of $10,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Luis R. Carrasquillo Ruiz, CPA, a partner at Luis R. Carrasquillo &
Co., P.S.C., disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Luis R. Carrasquillo Ruiz, CPA,
     Luis R. Carrasquillo & Co., P.S.C.
     28th Street, TI-26
     Turabo Gardens, Caguas PR 00725
     Tel: (787) 746-4555
     Fax: (787) 746-4556
     E-Mail: luis@cpacarrasquillo.com

              About Kytto Enterprise, Inc.

Kytto Enterprise Inc., operating as Sushi Kytto Bar International
Steak House and Sushi Kytto Juncos, operates Japanese sushi
restaurants and steakhouse establishments across multiple locations
in Puerto Rico, with its principal place of business located in
Gurabo.

Kytto Enterprise Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.P.R. Case No. 25-01382-11) on March 28,
2025. In its petition, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $500,000 and $1 million.

The Debtor is represented by Javier Vilarino at VILARINO &
ASSOCIATES LLC.


LAS VEGAS SANDS: S&P Rates Proposed Senior Unsecured Notes 'BB+'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue-level rating to Las
Vegas Sands Corp. (LVS) proposed senior unsecured notes, which it
will issue across two tranches. LVS will use the proceeds from the
new unsecured notes to repay its $500 million senior unsecured
notes due June 2025, for general corporate purposes including share
repurchases under its existing authorization, and to pay fees and
expenses.

S&P said, "Despite LVS' plan to use additional debt to fund
shareholder returns, our 'BBB-' issuer credit rating is unchanged
because we continue to expect LVS to sustain debt leverage below
3x. On its first quarter earnings call, LVS announced that it will
not bid on a downstate New York casino license and that instead it
will return more capital to shareholders. LVS increased its share
repurchase authorization to $2 billion, following $450 million of
shares repurchased in the first quarter. Therefore, we raised our
2025 share repurchase assumption in our base case forecast to about
$2.4 billion from $1.6 billion previously. At the same time, we
lowered our 2025 EBITDA forecast by about 3% to reflect softer
performance in Macao to date than we had previously projected. As a
result, we now expect S&P Global Ratings-adjusted debt leverage to
increase to 2.9x in 2025 compared with our previous projection of
2.7x. This still represents ample cushion to our high-3x downgrade
threshold in an increasingly uncertain macroeconomic environment.
We estimate LVS could withstand about a 20% EBITDA decline before
it breached this threshold assuming the company made no changes to
shareholder returns or capital expenditures. "While we had not
incorporated New York development spending in our base-case
forecast, the potential development risk was factored into LVS'
credit rating. Therefore, although our expectation for LVS'
shareholder returns and debt leverage are higher than we previously
expected, it is offset by the elimination of potential future
spending for a New York casino development."

The unsecured noteholders at ultimate parent LVS rank behind a
significant amount of secured and unsecured debt at the Sands China
Ltd. (SCL) and Marina Bay Sands (MBS) subsidiaries that have
priority claims over the assets in Macao and Singapore,
respectively. S&P said, "Because the proportion of priority debt,
including unsecured debt at SCL and secured debt at MBS, to LVS'
total debt is approximately 66% as of March 31, 2025, pro forma for
this proposed transaction, we rate LVS' unsecured debt 'BB+', one
notch below the issuer credit rating. We view a priority debt ratio
in excess of 50% as indicative of material subordination risk, and
we signal the relative disadvantage of debt that is significantly
subordinated to other debt by notching the issue-level rating down
once from the issuer credit rating."



LEISURE INVESTMENTS: CEO Refutes Armed Takeover Claims
------------------------------------------------------
Rick Archer of Law360 Bankruptcy Authority reports that on Tuesday,
April 29, 2025, the management of the Mexican affiliate of bankrupt
aquatics park operator The Dolphin Co. informed a Delaware
bankruptcy judge that there is a dispute regarding oversight of the
affiliate, and that the alleged armed confrontation referenced by
the debtors actually involved police removing trespassers.

                   About Leisure Investments Holdings
       
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.


LIBERTY TRIPADVISOR: Shareholders OK Merger Plan at Special Meeting
-------------------------------------------------------------------
Liberty TripAdvisor Holdings, Inc., announced that at the Company's
virtual special meeting of its holders of Series A common stock
("LTRPA") and Series B common stock ("LTRPB") held on April 24,
2025, the holders of LTRPA and LTRPB approved, among other things,
the previously announced proposals to:

    (i) approve the adoption of the Agreement and Plan of Merger,
dated as of Dec. 18, 2024, by and among Tripadvisor, Inc., Liberty
TripAdvisor, and Telluride Merger Sub Corp., an indirect wholly
owned subsidiary of Tripadvisor ("Merger Sub"), pursuant to which,
among other things, Merger Sub will merge with and into Liberty
TripAdvisor; and

   (ii) approve the adoption of an amendment to the Restated
Certificate of Incorporation of Liberty TripAdvisor, dated Aug. 27,
2014, which amends certain provisions of the Certificate of
Designations of Liberty TripAdvisor 8% Series A Cumulative
Redeemable Preferred Stock, dated March 15, 2020, as amended.

In connection with the merger, Liberty TripAdvisor is expected to
become an indirect wholly owned subsidiary of Tripadvisor on April
29, 2025.  Accordingly, the shares of LTRPA and LTRPB issued and
outstanding as of immediately prior to the effective time of the
Merger will be converted into the right to receive $0.2567 per
share in cash (without interest), totaling approximately $20
million in the aggregate, and all of the outstanding shares of
Liberty TripAdvisor's 8% Series A Cumulative Redeemable Preferred
Stock will be converted into the right to receive, in the
aggregate, $42,471,000 in cash, without interest, and 3,037,959
validly issued, fully paid and non-assessable shares of Tripadvisor
common stock.

Liberty TripAdvisor expects that shares of LTRPA and LTRPB will be
delisted from the OTCQB Venture Market at the effective time of the
merger, prior to market open on April 29, 2025.   The surviving
company in the Merger intends to file a certification on Form 15
with the Securities and Exchange Commission requesting the
termination of registration of LTRPA and LTPRB under Section 12(g)
of the Securities Exchange Act of 1934, as amended, and the
suspension of Liberty TripAdvisor's reporting obligations under
Sections 13 and 15(d) of the Exchange Act with respect to LTRPA and
LTPRB, on or about April 29, 2025.

Following the Merger, shares of Tripadvisor common stock are
expected to remain listed on the Nasdaq Stock Market under the
ticker symbol 'TRIP'.

                       About Liberty TripAdvisor

Liberty TripAdvisor Holdings, Inc., based in Englewood, Colorado,
is a holding company primarily focused on its subsidiary,
Tripadvisor, Inc.  Tripadvisor operates as a family of brands that
connects people to experiences worth sharing, and aims to be the
world's most trusted source for travel and experiences.
Tripadvisor leverages its brands, technology, and capabilities to
connect its global audience with partners through rich content,
travel guidance, and two-sided marketplaces for experiences,
accommodations, restaurants, and other travel categories.  For more
information, visit libertytripadvisorholdings.com

KPMG LLP, based in Denver, Colorado, the Company's auditor since
2014, issued a "going concern" qualification in its report dated
Feb. 20, 2025.  The report pointed out that the Company is required
to redeem its Series A Preferred Stock for cash on March 27, 2025,
and holders of the Company's 0.50% Exchangeable Debentures have the
right to demand the Company purchase their Debentures on the same
date.  As of Dec. 31, 2024, the Company did not have sufficient
cash on hand to meet these obligations, raising significant doubt
about its ability to continue as a going concern.

Liberty TripAdvisor reported a net loss of $661 million for the
year ending Dec. 31, 2024, compared to a net loss of $1.02 billion
for the year ending Dec. 31, 2023.  As of Dec. 31, 2024, the
Company had $2.89 billion in total assets, $2.22 billion in total
liabilities, and $668 million in total equity.


LILY616 LLC: Hires Law Offices of Mickler & Mickler as Attorney
---------------------------------------------------------------
Lily616, LLC seeks approval from the U.S. Bankruptcy Court for the
Middle District of Florida to employ Law Offices of Mickler &
Mickler, LLP as attorney.

The firm will render general representation of the Debtor in the
bankruptcy proceeding and the performance of all legal services for
the Debtor which may be necessary.

The firm will be paid at $300 to $400 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Bryan K. Mickler, Esq., a partner at Law Offices of Mickler &
Mickler, LLP, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Bryan K. Mickler, Esq.
     Law Offices of Mickler & Mickler, LLP
     5452 Arlingon Expy.
     Jacksonville FL 32211
     Tel: (904) 725-0822
     Fax: (904) 725-0855
     Email: bkmickler@planlaw.com

              About Lily616, LLC

Lily616, LLC filed a Chapter 11 bankruptcy petition (Bankr. D. Fla.
Case No. 3:25-bk-01176) on April 14, 2025. The Debtor hires Law
Offices of Mickler & Mickler, LLP as counsel.


LOCALS ONLY: Gets Interim OK to Use Cash Collateral Until May 22
----------------------------------------------------------------
Locals Only Gifts, LLC received interim approval from the U.S.
Bankruptcy Court for the Eastern District of Tennessee, Chattanooga
to use cash collateral until the final hearing on May 22.

The interim order penned by Judge Nicholas Whittenburg authorized
the company to use cash collateral to pay the expenses set forth in
its budget, with a 15% variance allowed.

Secured creditors include the U.S. Small Business Administration
and Brightbridge, Inc., which claim a lien on the cash collateral.

As protection, both creditors were granted replacement liens on the
company's post-petition property and proceeds (excluding certain
avoidance powers), with the same priority as their pre-bankruptcy
liens.

As further protection, Locals Only Gifts was ordered to keep the
secured creditors' collateral insured.

Brightbridge is represented by:

  Douglas R. Johnson, Esq.
  Johnson & Mulroony, P.C.
  428 McCallie Avenue
  Chattanooga, TN 37402
  (423) 266-2300
  djohnson@johnsonmulroony.com

                      About Locals Only Gifts

Locals Only Gifts, LLC filed Chapter 11 petition (Bankr. E.D. Tenn.
Case No. 25-10943) on April 16, 2025, listing between $50,001 and
$100,000 in assets and between $500,001 and $1 million in
liabilities.

Judge Nicholas W. Whittenburg oversees the case.

The Debtor is represented by:

   Amanda M. Stofan, Esq.
   Farinash & Stofan
   100 West ML King Blvd., Suite 816
   Chattanooga, TN 37402
   Tel: 423-805-3100
   Email: amanda@8053100.com


LOZO ENTERPRISES: Seeks Subchapter V Bankruptcy in Pennsylvania
---------------------------------------------------------------
On April 29, 2025, LoZo Enterprises LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Western District
of Pennsylvania. According to court filing, the
Debtor reports between $500,000 and $1 million in debt owed to
1 and 49 creditors. The petition states funds will be available to
unsecured creditors.

           About LoZo Enterprises LLC

LoZo Enterprises LLC, operating as X Golf Wexford, a franchised
indoor golf simulator facility in Wexford, Pennsylvania.

LoZo Enterprises LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-21098)
on April 29, 2025. In its petition, the Debtor reports estimated
assets between $100,000 and $500,000 and estimated liabilities
between $500,000 and $1 million.

The Debtor is represented by David Z. Valencik, Esq. at Calaiaro
Valencik.


MANA GROUP: Hires Mullin Hoard & Brown LLP as Counsel
-----------------------------------------------------
Mana Group Pharmacies, LLC d/b/a Brown's Pharmacy, seeks approval
from the U.S. Bankruptcy Court for the Northern District of Texas
to employ Mullin Hoard & Brown, L.L.P. as counsel.

The firm will provide these services:

     (a) prepare all legal papers necessary to comply with the
requisites of the United States Bankruptcy Code and Bankruptcy
Rules;

     (b) counsel the Debtor regarding preparation of Operating
Reports; Motions for Use of Cash Collateral, and development of
Chapter 11 Plan; and

     (c) provide all other legal services ordinarily associated
with a bankruptcy case.

The firm will be paid at these rates:

     Partners and Associates    $225 to $550 per hour
     Paralegals                 $155 to $200 per hour
     Law Clerks                 $110 per hour

The firm received a retainer of $50,000 from the Debtor.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

MR. Langston disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     David R. Langston, Esq.
     Mullin Hoard & Brown LLP
     P.O. Box 2585
     Lubbock, TX 79408
     Tel: (806) 765-7491
     Fax: (806) 765-0553
     Email: drl@mhba.com

              About Mana Group Pharmacies, LLC
                   d/b/a Brown's Pharmacy

Mana Group Pharmacies, LLC, operating as Brown's Pharmacy, is an
independent, locally owned pharmacy in Irving, Texas, serving the
Irving, Las Colinas, and Greater Dallas-Fort Worth areas since
1973. The pharmacy focuses on providing personalized, friendly
customer service, distinguishing itself from larger chain
pharmacies. Services include prescription refills, compounding,
delivery, vaccines, wound care, MEDSYNC (medication
synchronization), and PakMyMeds (a free medication packaging
service). Additionally, the pharmacy acts as an Amazon Hub,
securely accepting and storing Amazon packages for customers.

Mana Group Pharmacies filed Chapter 11 petition (Bankr. N.D. Tex.
Case No. 25-31057) on March 27, 2025, listing $332,938 in assets
and $4,952,261 in liabilities. Christopher Tapper, managing member
of Mana Group Pharmacies, signed the petition.

David R. Langston, Esq., at Mullin Hoard & Brown, L.L.P., is the
Debtor's legal counsel.


MIDCAP FINANCIAL: Moody's Alters Outlook on 'Ba3' CFR to Positive
-----------------------------------------------------------------
Moody's Ratings has affirmed MidCap Financial Issuer Trust's
(MidCap) Ba3 corporate family rating and B1 backed senior unsecured
and senior unsecured bank credit facility ratings. At the same
time, Moody's changed the company's outlook to positive from
stable.

RATINGS RATIONALE

The ratings affirmation and change in outlook to positive from
stable reflects the improvement in MidCap's capitalization and its
continued strong earnings. The positive outlook also incorporates
Moody's expectations that the company will improve its funding
profile over time by becoming less reliant on secured funding.

The company completed a reorganization on September 30, 2024 which
effectively led the broader MidCap business to be organized under a
United States limited liability company structure and exit Ireland.
The company undertook this reorganization due to the direct and
indirect costs of the US-Ireland Tax Treaty. The guarantee of
MidCap's notes was assumed by the newly formed MidCap FinCo
Intermediate LLC (Delaware based) from the former Irish
parent-guarantor, MidCap FinCo Intermediate Holdings Limited.

Alongside this reorganization, MidCap's profit participating notes
were redeemed in full. Moody's previously considered these notes to
have some debt-like characteristics, which weighed on the ratings.
Their redemption improves MidCap's quality of capital, such that
all of the company's equity capital is now GAAP equity. MidCap also
raised new equity capital in conjunction with the reorganization.
Specifically, the company's management estimates that it raised
around $450 million in net new equity commitments from both
existing and new investors, although some will remain undrawn.

MidCap's debt to tangible equity and its tangible common equity to
tangible managed assets ratios improved solidly on a sequential
basis in the fourth quarter, going from 4.7x to 3.9x and 18.2% to
20.0%, respectively. The expected equity raise will further
deleverage the company. For example, if Moody's assumes that all
$450 million in net new equity was drawn and used to pay down debt,
the company's debt to tangible equity would fall to around 3.2x.
Management has expressed its long-term debt-to-tangible equity
leverage target to be around 4.0x, although current macroeconomic
uncertainty may cause it to be more cautious.

Moody's expects that the company will incrementally improve its
debt capital structure mix over the next 12-18 months. It recently
issued a $150 million unsecured term loan, which is relatively
modest in size versus the company's $10.7 billion in borrowings.
However, the company has expressed that it is targeting to have
around 30% of its total borrowings in unsecured debt versus the 17%
Moody's estimates following its recent issuance. Assuming 4.0x
leverage, Moody's estimates that the additional unsecured debt
results in a secured debt to assets ratio in the mid-50% range
versus 64% as of December 31, 2024.

The company's asset quality has remained relatively stable.
Non-accruals on a principal value basis were 2.9% as of December
31, 2024 versus 2.7% a year before and down from 3.4% as of
September 30, 2024. However, the company's watchlist credits
increased to 7.2% of loans from only 4.3% a year earlier. Net
charge-offs have remained steady and comfortably below 1.0%,
continuing the company's strong long-term track record. While
macroeconomic uncertainty and recession risk have increased,
Moody's believes other improvements in the company's profile
alongside its long-term track record and solid portfolio
diversification mitigate the asset risk.

Earnings have also remained strong. The company's return on average
assets was 2.8% in 2024, buffered by still-elevated reference rates
and good asset quality performance. Lower reference rates and
economic challenges could lead to somewhat softer earnings over the
next 12-18 months, although Moody's expects MidCap to sustain solid
profitability.

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

The ratings could be upgraded if MidCap improves its debt capital
structure by reducing its reliance on secured funding, while
maintaining asset quality and solid earnings and leverage at or
below its target range.

MidCap's ratings could be downgraded if the company experiences a
significant deterioration in asset quality causing its
profitability to materially weaken or become more volatile. The
ratings could also be downgraded if MidCap sustains leverage above
its target range or its liquidity position weakens.

The long-term senior unsecured debt rating could also be downgraded
as a result of changes to the company's capital structure,
specifically if Moody's expects the ratio of secured borrowings
outstanding on recourse facilities to unsecured obligations to
increase.

The principal methodology used in these ratings was Finance
Companies published in July 2024.


MIRACLE RESTAURANT: Court Extends Cash Collateral Access to May 14
------------------------------------------------------------------
Miracle Restaurant Group, LLC received another extension from the
U.S. Bankruptcy Court for the Eastern District of Louisiana to use
cash collateral.

The court issued its 10th interim order allowing the company until
May 14 to use funds in its bank account and cash from operations
based on its projected budget, with a 15% flexibility per line
item.

Creditors with a security interest in cash collateral were granted
replacement liens on the company's assets, including inventory,
accounts receivable and employee retention tax credit claims, to
the same extent and with the same validity and priority as their
pre-bankruptcy liens.

Secured creditors were also granted a superpriority administrative
claim to protect against any loss in value of their collateral.

Meanwhile, First Franchise Capital Corporation, one of the secured
creditors, will continue to receive a monthly payment of $14,062,
as set forth in the budget.

A final hearing is scheduled for May 14, with objections due by May
7.

A copy of the court order and the budget is available at
https://shorturl.at/hkd0t from PacerMonitor.com.

                 About Miracle Restaurant Group

Miracle Restaurant Group, LLC owns and operates a fast-food
restaurant in Covington, La.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. La. Case No. 24-11158) on June 20,
2024, with $1 million to $10 million in both assets and
liabilities. Dwayne Murray, Esq., at Murray & Murray, LLC, serves
as Subchapter V trustee.

Judge Meredith S. Grabill presides over the case.

The Debtor is represented by Douglas S. Draper, Esq., and Michael
E. Landis, Esq., at Heller, Draper & Horn, LLC.

First Franchise Capital Corp., as secured creditor, is represented
by:

     Jeffrey M. Hendricks, Esq.
     Bricker Graydon, LLP
     312 Walnut Street, Suite 1800
     Cincinnati, OH 45202
     Telephone:(513) 629-2786
     Facsimile: (513) 651-3836
     Email: jhendricks@brickergraydon.com


MRC GLOBAL: S&P Alters Outlook to Positive, Affirms 'B' ICR
-----------------------------------------------------------
S&P Global Ratings revised its outlook on MRC Global (US) Inc. to
positive from stable.

S&P said, "We also affirmed our 'B' rating on MRC and its $350
million term loan; there is no change to our '4' recovery rating or
our expectation for average (30%-50%; rounded estimate: 40%)
recovery in the event of payment default.

"The positive outlook reflects our expectation we could raise our
rating on MRC over the next year if we believe it will continue to
demonstrate a commitment to maintaining adjusted leverage below 5x
and solid operating performance.

"We believe MRC Global might sustain leverage below 5x through the
commodity cycle. The company adopted a more conservative financial
policy during 2024. It lowered S&P Global Ratings-adjusted debt to
$580 million last year, compared with $750 million to $1 billion in
2018-2023. This reduced adjusted debt to EBITDA to 2.4x in 2024,
compared with more than 3x for the five years prior. We think
commodity cycle downturns will cause S&P Global Ratings-adjusted
EBITDA to fall by 50% or more, as occurred during the last three.
We believe its more conservative financial policy will keep
adjusted leverage below 2.5x during periods of solid demand. This
provides more cushion for the company to keep it below 5x through
the cycle.

"We expect MRC to finance acquisitions and shareholder rewards with
free operating cash flow. We anticipate shareholder returns will be
higher over the next three years. The company may also consider
bolt-on acquisitions. That said, we view the size of the term loan
($350 million, due 2031) as potentially supportive of a higher
rating. Debt-financed shareholder rewards or acquisitions would
likely change our expectations for adjusted leverage through the
cycle and prevent us from raising our rating.

"Cash generation will partially offset leverage increases during a
downturn. We don't net cash, so the company would have to repay
debt to deleverage. Using the ABL primarily to fund inventory
purchases during periods of strong demand could support a higher
rating because inventory liquidation would fund repayment during a
downturn. We note that adjusted FOCF to debt was more than 5% in
four of the past five years. It was a negative 3% during 2022 when
revenue grew 26%. We forecast MRC will generate S&P Global
Ratings-adjusted FOCF of $75 million in 2025 and above $100 million
in 2026.

"Demand for MRC's products will remain cyclical. Gas utilities
represent the largest share of revenue at 37%, compared with 24%
five years ago. We expect multi-year investment in infrastructure
maintenance and upgrades will result in stable demand for this
segment over the next three years. However, demand from these
customers will fluctuate. For example, in 2022 and 2023 gas
utilities stocked up on the products MRC sells, hurting the
company's sales in 2024.

"Oil and gas production is the largest driver of this cyclicality.
The production, transmission, and infrastructure (PTI) segment was
31% of revenue last year. This segment's sales depend on the demand
for and price of oil and natural gas. We expect its performance
will fluctuate with exploration and drilling activity in North
America, which will remain cyclical.

"We believe the severe decline in credit measures that occurred in
2019-2020 is unlikely to repeat. Oil prices dropped dramatically,
even falling below zero one day during April 2020. This spooked the
energy industry and heighted investment caution. We recognize
tariff-related uncertainty could cause MRC's customers to slow
investment. However, U.S. energy demand will likely remain tight
for at least the next two to three years, likely supporting oil and
gas production. And though we ultimately expect the energy
transition will reduce hydrocarbon demand significantly, we believe
this will occur over decades. We do not foresee a catalyst that
would have as dramatic of an impact on demand as the COVID-19
pandemic.

"Lease liabilities increase S&P Global Ratings-adjusted leverage.
Lease liabilities amounted to $193 million in 2024. We also exclude
$46 million of operating lease expense in our calculation of
EBITDA. As a result, S&P Global Ratings-adjusted debt to EBITDA was
2.4x in 2024, compared with 1.6x on a management-adjusted basis.
Still, we view the company's target leverage of below 1.5x as
consistent with maintaining S&P-Global Ratings-adjusted leverage of
2.5x during periods of solid end market demand and 5x through the
cycle.

"We expect MRC will manage tariff exposure. To the extent MRC's
products are subject to tariffs, we believe it will increase
prices, which will likely hurt sales volumes in units. Though
margins might be more stable, the net effect would likely be lower
revenue and adjusted EBITDA. Managing this well likely maintains
the company's good relationships with customers and suppliers
likely preserves its market position and limits the financial
impact. The amount of profit pressure will likely depend on the
degree to which economic uncertainty depresses industry investment
and thus MRC's demand. Continued solid demand would allow the
company to pass through price increases with limited impact on
volumes.

"S&P Global Ratings believes there is a high degree of
unpredictability around policy implementation by the U.S.
administration and possible responses--specifically with regard to
tariffs--and the potential effect on economies, supply chains, and
credit conditions around the world. As a result, our baseline
forecasts carry a significant amount of uncertainty. As situations
evolve, we will gauge the macro and credit materiality of potential
and actual policy shifts and reassess our guidance accordingly.

"The successful ERP implementation we expect would demonstrate
solid operating performance. We believe the new system will improve
internal controls and give MRC better visibility into its
operations. We think the company is well prepared and will avoid
major disruptions. That said, challenges could still cause credit
metrics to underperform our forecast and us to view operating
performance less favorably.

"The positive outlook reflects our expectation we could raise our
rating on MRC over the next year if it demonstrates a continued
commitment to maintaining this leverage and solid operating
performance. This could occur if financial policy supports
maintaining adjusted leverage below 2.5x amid solid demand."

S&P could revise the outlook back to stable if:

-- The company does not effectively address operating challenges
like tariffs and its ERP implementation; and

-- S&P expects MRC's financial policy could cause S&P Global
Ratings-adjusted debt to EBITDA to rise above 5x. This could occur
if share buybacks or acquisitions raise adjusted leverage and
reduce cushion for the company's credit metrics to weather a
cyclical downturn.

S&P could raise its rating on MRC if:

-- The company deals with operating challenges like tariffs and
ERP implementation successfully; and

-- S&P believes MRC's financial policy will maintain S&P Global
Ratings-adjusted debt to EBITDA below 5x throughout the commodity
cycle and including cushion for a cyclical downturn.



NATUROMULCH LLC: Taps Durand & Associates as Legal Counsel
----------------------------------------------------------
Naturomulch, LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Texas to employ Durand & Associates, P.C.
as counsel.

The firm will provide these services:

   a. advise the Debtor as to its rights, duties and powers as a
Debtor in Possession;

   b. prepare and file any statements, schedules, plans, and other
documents or pleadings to be filed by the Debtor in this case;

   c. represent the Debtor at all hearings, meetings of creditors,
conferences, trials and other proceedings in this case; and

   d. perform such other legal services as may be necessary in
connection with this case.

The firm will be paid at the rate of $375 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Daniel C. Durand, III of Durand & Associates, P.C., disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Daniel C. Durand, III, Esq.
     Durand & Associates, P.C.
     522 Edmonds Ste 101
     Lewisville, TX 75067
     Tel: (972) 221-5655
     Fax: (972) 221-9569

              About Naturomulch, LLC

Naturomulch LLC is a Texas-based manufacturer and distributor of
wood mulch products.

Naturomulch LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-40909) on
March 31, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.

The Debtor is represented by Daniel C Durand, III, Esq. at Durand &
Associates, P.C.


NAUTICA'S EDGE: Seeks Subchapter V Bankruptcy in Georgia
--------------------------------------------------------
On April 29, 2025, Nautica's Edge LLC filed Chapter 11 protection
in the U.S. Bankruptcy Court for the Northern District of Georgia.
According to court filing, the Debtor reports between $500,000 and
$1 million in debt owed to 1 and 49 creditors. The petition states
funds will be available to unsecured creditors.

           About Nautica's Edge LLC

Nautica's Edge LLC is a limited liability company.

Nautica's Edge LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-54710)
on April 29, 2025. In its petition, the Debtor reports estimated
assets between $1 million and $10 million and estimated liabilities
between $500,000 and $1 million.

The Debtor is represented by Michael D. Robl, Esq. at Robl Law
Group LLC.


NEBRASKA BREWING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Nebraska Brewing Co.
        6946 S. 108th Street
        La Vista, NE 68128

Business Description: Nebraska Brewing Co. is a craft brewery
                      based in La Vista, Nebraska.  The Company
                      produces a variety of beers, including core,
                      seasonal, and barrel-aged offerings, and
                      operates a taproom that hosts public
                      tastings and private events.  Founded in
                      2007, the brewery has earned multiple
                      national awards for its products.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       District of Nebraska

Case No.: 25-80403

Judge: Hon. Brian S Kruse

Debtor's Counsel: Patrick R. Turner, Esq.
                  TURNER LEGAL GROUP, LLC
                  9375 Burt Street
                  #100
                  Omaha, NE 68114
                  Tel: 402-690-3675
                  E-mail: pturner@turnerlegalomaha.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kim Kavulak as 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/X23ZXBY/Nebraska_Brewing_Co__nebke-25-80403__0001.0.pdf?mcid=tGE4TAMA


NEPHRITE FUND 1: Amends Unsecured Claims Pay Details
----------------------------------------------------
Nephrite Fund I, LLC, submitted a Disclosure Statement for Second
Amended Plan of Reorganization dated March 28, 2025.

Since the Petition Date, the Debtor has continued to operate its
Apartment Complex in the ordinary course of business. Debtor
intends to continue to operate the Apartment Complex unless and
until the Apartment Complex is sold pursuant to Debtor's Plan.

The Reorganized Debtor intends to investigate a potential avoidable
transfer against Headway Capital for amount withdrawn from Debtor's
account after the filing of the bankruptcy. Debtor previously
investigated potential avoidable transfer actions against Michael
Clark and SP Investment Group, LLC, but upon investigation believes
that no viable cause of action exists against these parties, as
Debtor believes meritorious defenses, including but not limited to
the lack of insolvency of the Debtor at the time of the transfer,
exist in favor of these parties.

Given this investigation and the consideration provided by SP
Investment Group, LLC for the settlement agreement with the Puga
Class, the Debtor will not pursue the avoidance of the liens if the
settlement is effectuated.

Class 6 shall consist of the Unsecured Claim of the Puga Class. The
Puga Class's claim shall be paid in accordance with the Settlement
Agreement, as further defined within and attached to the Plan,
which implicates payments from insurers and Debtor's co defendants.
Under the terms of the Settlement Agreement, Debtor will not make
payments to the Puga Class.

Class 7 shall consist of all Allowed General Unsecured Claims.
Holders of Allowed General Unsecured Claims will receive their Pro
Rata share of Excess Monthly Income on the first day of the month
after Class 1 Claims are paid in full, and quarterly thereafter for
five years, until the Apartment Complex has been sold, or the
holders of Allowed Class 7 Claims are paid in full, whichever is
shorter. The Class 7 Claimants are Impaired. For the avoidance of
doubt, Excess Monthly Income would include the proceeds of a sale
of Debtor's facility after repaying Classes 1 through 5 in full.

Class 8 consists of all Allowed Interests in Debtor. In the event
that Class 7 Claims are paid in full, Class 8 Allowed Interests
will be retained and are therefore unimpaired under the Plan. Class
8 Claims shall be paid their Pro Rata share of any remaining
proceeds from the sale or refinancing of the Apartment Complex
after paying Secured and Unsecured Creditors in whole, or in
accordance with any agreement with Unsecured Creditors as between
Class 7 and Class 8 claims. In the event that Class 7 Claims are
not paid in full, Class 8 claims shall be extinguished.

On the Effective Date, all Estate Property, including Chapter 5
Claims, will revest in the Reorganized Debtor and shall be free and
clear of all claims and interests of Creditors and Parties in
Interest, except as expressly provided in this Plan or the
Confirmation Order.

The Debtor shall list its Apartment Complex for sale or otherwise
continue to solicit offers for the purchase of the Apartment
Complex within two weeks of the Effective Date of the Plan. In
addition, the Debtor will seek to procure a refinance in full or in
part that would provide for a paydown of the first lien lender's
claim.

The Debtor believes that the monies for a refinance could be used
to increase the value of the Apartment Complex from repairs and
other projects to stabilize the value upward between $1,000,000 to
$1,500,000, which would yield a greater payoff for creditors,
especially unsecured creditors. In addition, Debtor will generate
cash flows through regular business operations. Debtor expects
increased cash flows due to the resolution of the PUGA Class
landlord-tenant claims and the resumption of rent payments from
Puga Class members under the terms of the Puga Settlement.

A full-text copy of the Disclosure Statement dated March 28, 2025
is available at https://urlcurt.com/u?l=p04bUo from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Robert E. Eggman, Esq.
     Thomas H. Riske, Esq.
     Nathan R. Wallace, Esq.
     Carmody MacDonald P.C.
     12 S. Central Ave., Suite 1800
     St. Louis, MO 63105
     Telephone: (314) 854-8600
     Facsimile: (314) 854-8600
     Email: ree@carmodymacdonald.com

                   About Nephrite Fund 1 LLC

Nephrite Fund 1 LLC owns Suncrest Apartments located in Raytown,
Missouri.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D.N.Y. Case No. 24-40655) on May 14,
2024. In the petition signed by Alan Sheehy, member, the Debtor
disclosed $7,895,492 in assets and $7,194,305 in liabilities.

Judge Cynthia A. Norton oversees the case.

Robert E. Eggmann, Esq., at Carmody MacDonald PC, is the Debtor's
legal counsel.


NIKOLA CORP: Seeks $9MM Climate-Credit Sale Process Court Approval
------------------------------------------------------------------
Alex Wittenberg of Law360 Bankruptcy Authority reports that Nikola
Corp., the electric truck maker, has asked a Delaware bankruptcy
judge to authorize the sale of environmental credits generated from
its zero-emission vehicle sales, stating that it has received an
$8.97 million bid to establish a baseline price for the assets.

                     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.


NISSAN MOTOR: Fitch Lowers LongTerm IDR to 'BB', Outlook Negative
-----------------------------------------------------------------
Fitch Ratings has downgraded Nissan Motor Acceptance Company LLC's
(NMAC) Long-Term Issuer Default Rating (IDR) and senior unsecured
debt rating to 'BB' from 'BB+'. Fitch has also downgraded NMAC's
Shareholder Support Rating (SSR) to 'bb' from 'bb+'. Fitch has
affirmed NMAC's Short-Term IDR and CP ratings at 'B'. The Rating
Outlook is Negative.

Key Rating Drivers

Downgrade Aligns with Parent Rating: The downgrade of NMAC's
ratings is driven by the recent downgrade of its parent company,
Nissan Motor Co., Ltd. (NML; BB/Negative). The ratings and Rating
Outlook for NMAC are equalized with and linked to those of NML as
Fitch views NMAC as a core subsidiary of NML.

This view reflects strong implicit and explicit support factors,
including the financing of a large share of NML's U.S. sales by
NMAC, significant operational linkages between the two companies
and the existence of a keepwell agreement between the parent and
NMAC. This agreement requires NML to maintain 100% ownership of
NMAC, make capital contributions to NMAC to maintain its positive
tangible net worth, and provide sufficient liquidity for NMAC to
punctually meet its debt obligations.

NMAC's credit profile remains supported by its strong asset
quality, consistent operating performance and moderate leverage.

Shareholder Support: NMAC's 'bb' SSR is aligned with NML's
Long-Term IDR and indicates the minimum level to which NMAC's IDR
could fall if Fitch does not change its view on potential support
from NML. A 'bb' SSR indicates a moderate probability of support
being forthcoming.

Strong, Albeit Weakening, Asset Quality: NMAC's net charge-offs on
finance receivables were 0.50% during the quarter ended Dec. 31,
2024 (FY3Q24), up from 0.14% a year ago. Delinquencies of 60 days
or more, as well as non-accruals on finance receivables, were 0.88%
as of FY3Q24, compared with 0.66% a year earlier and the four-year
(FY2020 - FY2023) average of 0.64%. NMAC's asset quality remains
strong but Fitch expects credit losses will increase modestly over
the near to medium term as consumer credit performance remains
pressured and used vehicle values continue to normalize.

Higher Expenses Impacting Earnings: NMAC's operating performance
weakened in the nine months ended 3Q24, driven primarily by a rise
in expenses due to higher borrowing costs on outstanding debt and
an increase in provisions for loan losses. Annualized pre-tax
return on average assets (ROAA) was 1.8% in 9M24, down from 2.3% a
year earlier and below the four-year average of 3.1%. Fitch expects
potentially weaker credit performance to drive provisions higher
and pose a headwind to earnings in the near term.

Increased Leverage: NMAC's leverage, measured by debt to tangible
equity, increased to 6.7x at 3Q24, up from 4.5x at FYE 2023. The
increase was driven by recent dividends to its parent, combined
with portfolio growth. Fitch believes NMAC's leverage is high but
acceptable in the context of the asset quality strength of NMAC's
loan and lease portfolio relative to other captives rated by
Fitch.

Diverse Funding Profile: NMAC's funding profile is diverse and
includes securitizations, unsecured bonds, bank loans and
intercompany borrowings. Its unsecured debt represented 49.8% of
total debt as of 3Q24, which is below the four-year average of
63.7% and the Fitch-rated captive peer average. Fitch would view an
increase in unsecured debt favorably as it would enhance the firm's
funding flexibility.

Sufficient Liquidity: Fitch believes NMAC's liquidity profile is
sufficient given consistent cash flow generation, available cash on
hand of $42 million as of 3Q24, $8.4 billion of committed asset
backed borrowing capacity and $6.1 billion of committed unsecured
borrowing capacity under its credit facilities. Fitch believes NMAC
has sufficient liquidity to address its near-term borrowing needs.

Short-Term Ratings: NMAC's 'B' Short-Term IDR reflects the rating
linkage between the Short-Term IDR and 'BB' Long-Term IDR and
Fitch's view of the funding and liquidity profiles of NMAC and NML.
Therefore, the Short-Term IDR is primarily sensitive to changes in
the Long-Term IDR.

RATING SENSITIVITIES

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

Changes to NMAC's ratings are largely dependent on NML's ratings
and Outlook, given the rating linkage. Negative rating actions
could be triggered by changes in the perceived relationship between
NMAC and NML that indicate the captive has become less central to
NML's strategic operations and/or adequate financial support was
not provided to the captive in times of need.

Meaningful and sustained credit quality deterioration, consistent
operating losses, a material increase in leverage above average
post-crisis levels, a material increase in the proportion of
short-term debt in the funding structure, and/or a deterioration in
NMAC's liquidity profile could also lead to negative rating
action.

The SSR is primarily sensitive to changes in NMAC's Long-Term IDR
and secondarily to changes in Fitch's assessment of the probability
of support being extended to NMAC from NML.

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

NMAC's ratings are linked to Fitch's view of NML's credit profile.
Fitch cannot envision a scenario where NMAC would be rated higher
than its parent.

DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS

The CP rating is equalized with the Short-Term IDR.

The senior unsecured debt rating is equalized with the Long-Term
IDR, reflecting a sufficient proportion of unsecured funding in the
capital structure and the unencumbered asset pool, which suggests
average recovery prospects for debtholders under a stress
scenario.

DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES

The CP rating is primarily sensitive to changes in the Short-Term
IDR and would be expected to move in tandem with it.

The senior unsecured debt ratings are primarily sensitive to
changes in the Long-Term IDR and would be expected to move in
tandem with it. However, a material increase in the proportion of
secured funding could result in the unsecured debt rating being
notched down from the Long-Term IDR.

Public Ratings with Credit Linkage to other ratings

NMAC's ratings and Outlook are equalized with NML, as Fitch
considers NMAC a core subsidiary of NML. This is supported by the
high percentage of NML's U.S. sales financed by NMAC, strong
operational and financial linkages between the two companies,
shared branding, and a support (keepwell) agreement provided
directly by NML to NMAC.

ESG Considerations

NMAC has an ESG Relevance Score of '4' for Group Structure, due to
its complexity related to the alliance with Renault and Mitsubishi.
This has a negative impact on the credit profile and is relevant to
the ratings in conjunction with other factors.

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
   -----------             ------           --------   -----
Nissan Motor Acceptance
Company LLC              LT IDR              BB Downgrade   BB+
                         ST IDR              B  Affirmed    B
                         Shareholder Support bb Downgrade   bb+

   senior unsecured      LT                  BB Downgrade   BB+

   senior unsecured      ST                  B  Affirmed    B


NORTH AMERICAN SEALING: Gets Interim OK to Use Cash Collateral
--------------------------------------------------------------
North American Sealing Solutions, LLC got the green light from the
U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, to use cash collateral.

The order penned by Judge Edward Morris authorized the Debtor's
interim use of cash collateral until May 9 to pay the expenses set
forth in its budget.

The Debtor urgently needs access to cash claimed by its secured
lenders, including BayFirst National Bank, First Bank of the Lake,
Citibank Europe PLC, Intech Funding Corporation, Verdant Commercial
Capital, the Internal Revenue Service, and the U.S. Small Business
Administration.

To protect the interests of secured lenders, the court order
granted these lenders replacement liens on the Debtor's personal
property and other assets.

As additional protection, the Debtor was ordered to keep the
lenders' collateral insured.

A final hearing is set for May 8. Objections are due by May 6.

              About North American Sealing Solutions

North American Sealing Solutions, LLC is a manufacturer based in
Fort Worth, Texas, specializing in sealing products and machined
components for industries like oil and gas.  Founded in 2010 by Tom
Oswald, the Company produces items such as O-rings, seals, rubber
products, and rebuild kits.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41374) on April 18,
2025. In the petition signed by Thomas Oswald, president, the
Debtor disclosed up to $10 million in both assets and liabilities.


Judge Edward L. Morris oversees the case.

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
represents the Debtor as bankruptcy counsel.


ONDAS HOLDINGS: Settles $34.5M Notes, Reduces Note Debt to $21.1M
-----------------------------------------------------------------
Ondas Holdings Inc. fully settled $34.5 million of its 3% Senior
Convertible Exchange Notes as of April 24, 2025, cutting its total
outstanding debt by more than 50%, according to a regulatory
filing. The Company's principal and accrued interest on all Notes
dropped to about $21.1 million as of April 25, from approximately
$46.2 million at the end of 2024.

Ondas previously issued about $80.5 million in various 3% Senior
Convertible Notes, including the Exchange Notes and several Series
B-2 Notes in 2023 and 2024.  The Exchange Notes were earlier
swapped on a dollar-for-dollar basis for new notes maturing April
28, 2025.

                        About Ondas Holdings

Headquartered in Boston, MA, Ondas Holdings Inc. is a provider of
private wireless data solutions through Ondas Networks Inc. and
commercial drone solutions through Ondas Autonomous Systems Inc.
Ondas Networks develops software-based wireless broadband
technology for commercial and government markets, offering the
FullMAX platform for Mission-Critical IoT (MC-IoT) applications.
Ondas Autonomous Systems specializes in autonomous drone solutions,
including the FAA-certified Optimus System for aerial security and
data capture, and the Iron Drone Raider for counter-drone
operations.  The company's subsidiaries, American Robotics and
Airobotics, have achieved key regulatory milestones, including FAA
certifications for automated drone operations. Ondas serves
industries such as defense, public safety, and infrastructure with
enhanced connectivity, situational awareness, and data collection
capabilities.

In an audit report dated March 12, 2025, the Company's auditor,
Rosenberg Rich Baker Berman, P.A., issued a "going concern"
qualification, citing that the Company has experienced recurring
losses from operations, negative cash flows from operations and a
working capital deficit as of Dec. 31, 2024.

Ondas reported an accumulated deficit of about $236.4 million as of
Dec. 31, 2024, after funding its operations primarily through debt
and equity sales since inception.  As of Dec. 31, 2024, the Company
had approximately $18.1 million in net long-term borrowings and
$38.7 million in net short-term borrowings, reflecting deductions
for debt discounts and issuance costs of about $1.7 million and
$5.8 million, respectively.  Ondas held roughly $30.0 million in
cash and restricted cash at year-end and posted a working capital
deficit of about $3.1 million.  Net cash used in operations totaled
approximately $33.5 million for the year ended Dec. 31, 2024.


PACIFIC PRAIRIE: Seeks Cash Collateral Access
---------------------------------------------
Pacific Prairie Holdings, LLC asked the U.S. Bankruptcy Court for
the Eastern District of Wisconsin for authority to use cash
collateral and provide adequate protection to its lender, Waukesha
State Bank.

The Debtor owns a two-story building in Genessee Depot, Wis., which
includes a restaurant and bar on the first floor and one completed
residential unit on the second floor.

Plans are in place to convert parts of the property into additional
short-term rental units. The Debtor's income consists of $2,000
monthly rent from its owners, Kristina Verzi and Steve Smith, and
$3,000 monthly rent from Vittles and Vine, LLC, a wholly owned
operating company.

To continue operations and meet its financial obligations—such as
insurance, taxes, and trade payables—the Debtor seeks to use
rental income encumbered by WSB. As of the petition date, the
Debtor owes approximately $382,030 to WSB on a loan originally
issued in 2018. This loan is secured by a mortgage, an assignment
of rents, and UCC-1 financing statements on the Debtor's and its
operating company's assets. WSB also filed a foreclosure action,
and the property was recently sold at a sheriff's sale for
$475,000. However, the property is valued higher according to the
tax bill ($530,500) and the 2018 appraisal ($550,000), creating a
substantial equity cushion.

The Debtor proposed to make monthly interest-only payments of
$3,236 at the non-default rate of 10.25%, maintain required
casualty insurance, and submit regular financial reports. These
measures, along with the equity cushion, are argued to sufficiently
protect WSB's secured interest under 11 U.S.C. section 363(e).

A copy of the motion is available at https://urlcurt.com/u?l=8yjLxD
from PacerMonitor.com.

                  About Pacific Prairie Holdings

Pacific Prairie Holdings, LLC sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-22125) on
April 18, 2025. In the petition signed by Kristina Verzi,
authorized individual, the Debtor disclosed up to $1 million in
assets and up to $500,000 in liabilities.

Judge G. Michael Halfenger oversees the case.

Craig Stevenson, Esq., at Swanson Sweet, LLP, represents the Debtor
as legal counsel.


PALWAUKEE HOSPITALITY: Cash Collateral Access Extended to May 16
----------------------------------------------------------------
Palwaukee Hospitality, LLC received another extension from the U.S.
Bankruptcy Court for the Northern District of Illinois to use the
cash collateral of Albany Bank & Trust Company, N.A. and Holiday
Hospitality Franchising, LLC.

The third interim order extended the company's authority to use
cash collateral from April 18 to May 16 to pay the expenses set
forth in its budget, with a 10% variance.

As protection, Albany Bank and Trust Company, N.A., the company's
lender, was granted a replacement security interests in, and liens
on, post-petition property of the company.

The next hearing is scheduled for May 14.

Albany is represented by:

   David A. Golin, Esq.
   Saul Ewing LLP
   161 North Clark Street, Suite 4200
   Chicago, IL 60601
   Phone: (312) 876-7100
   david.golin@saul.com

                    About Palwaukee Hospitality

Palwaukee Hospitality, LLC operates a hotel property located at 600
N. Milwaukee Avenue in Prospect Heights, Illinois.

Palwaukee Hospitality sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-02685) on February
23, 2025. In its petition, the Debtor reported between $1 million
and $10 million in both assets and liabilities.

Judge Deborah L. Thorne handles the case.

Penelope N. Bach, Esq., at Bach Law Offices is the Debtor's
bankruptcy counsel.


PAP-R PRODUCTS: Hires Hoeman Capital as Financial Consultant
------------------------------------------------------------
Pap-R Products Company seeks approval from the U.S. Bankruptcy
Court for the Southern District of Illinois to employ Hoeman
Capital Management, L.L.C. as financial consultant.

The firm will assist the Debtor to secure new financing that would
enable Debtor to purchase the raw materials needed to fulfill
orders for the sale of goods to customers during its bankruptcy and
to obtain post-confirmation financing in order that Debtor may exit
bankruptcy.

The firm will be paid 3 percent of the total amount financed.

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

The firm can be reached at:

     Mark Hoeman
     Hoeman Capital Management, L.L.C.
     1540 Yarmouth Point
     Chesterfield, MO 63017
     Tel: (314) 401-4253

              About Pap-R Products Company

Pap-R Products Company specializes in a wide range of coin and
currency wrapping solutions. The Company's product lineup includes
flat coin wrappers, automatic coin rolls, currency bands, and
specialized wraps for items such as napkins and canceled checks.

All products are crafted from high-quality Kraft paper and adhere
to ABA standards when applicable.The company also offers custom
imprinting services for most products, excluding basic bill bands
and storage boxes.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60040) on March 3,
2025. In the petition signed by Kenneth Scott Ware, president, the
Debtor disclosed up to $50 million in both assets and liabilities.

Larry E. Parres, Esq., at LEWIS RICE LLC, represents the Debtor as
legal counsel.


PB RESTAURANTS: Seeks to Hire Shuker & Dorris P.A. as Counsel
-------------------------------------------------------------
PB Restaurants LLC seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Shuker & Dorris, P.A. as
counsel.

The firm's services include:

     a. advising as to the Debtor's rights and duties in this
case;

     b. preparing pleadings related to this case, including a
disclosure statement and a plan of reorganization; and

     c. taking any and all other necessary action incident to the
proper preservation and administration of this estate;

The firm will be paid at these rates:

     Partners              $550 to $700 per hour
     Associates            $475 per hour
     Paraprofessionals     $125 to 225 per hour

     RS Shuker             $700 per hour
     ML Dorris             $550 per hour
     LL Stricker           $475 per hour
     MA Franklin           $225 per hour
     AR Tillman            $125 per hour

The firm received a retainer in the amount of $72,806.73 for
post-petition services.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

R. Scott Shuker, Esq., a partner at Shuker & Dorris, P.A.,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     R. Scott Shuker, Esq.
     Shuker & Dorris, P.A.
     121 S. Orange Avenue, Suite 1120
     Orlando, FL 32801
     Telephone: (407) 337-2060
     Facsimile: (407) 337-2050

      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.


PCP GROUP: Claims to be Paid From Available Cash and Income
-----------------------------------------------------------
PCP Group, LLC filed with the U.S. Bankruptcy Court for the Eastern
District of New York an Amended Plan of Reorganization dated March
28, 2025.

The Plan provides for the Reorganized Debtor to obtain new secured
financing to replace the secured claims of certain creditors and
make full payment on account of Allowed Claims from continued
operations of the Reorganized Debtor.

In addition, as the Reorganized Debtor reestablishes the Debtor's
business, it may again explore the potential for the sale of its
assets as a going concern business. Such a sale will only be
considered if the anticipated proceeds are sufficient to pay
allowed claims in full.

Class 5 consists of all Allowed General Unsecured claims. Class 5
claims are impaired under the plan. On the Effective Date or as
soon thereafter as is reasonably practicable, the Reorganized
Debtor shall make the Initial Unsecured Creditor Distribution to
the holders of Allowed class 5 claims, which shall be distributed
on a pro rata basis to such holders.

Beginning on the last business day of the first full quarter
following confirmation of the Plan, holders of Allowed Class 5
claims shall receive Quarterly Distributions from Available cash on
account of their claims until such claims are paid in full.

Class 6 consists of loans made by a member of the Debtor to the
Debtor. These claims are subordinate to the payment to all senior
classes of Creditors under the plan.

Class 7 consists of all interests and claims by interest holders.
on the Effective Date, equity interests in the Debtor shall be
reinstated and otherwise unaffected by the plan. Class 7 consists
of the membership interests in the Debtor and of the claims
asserted by members for what appear to be distributions from the
Debtor on account of such member's equity position. The Debtor does
not believe these claims are valid or to be asserted against the
Debtor as the Debtor has not issued any distributions to its
members.

As of the Effective Date, pursuant to provisions of Bankruptcy Code
Sections 1141(b) and (c), all property, assets and effects of the
Debtor shall vest in the Reorganized Debtor free and clear of all
Liens, claims and interests, except as otherwise expressly provided
in this Plan, the confirmation order or the Bankruptcy Code.

From and after the Confirmation Date, the Debtor shall continue in
existence as the Reorganized Debtor for the purpose of, among other
things: (i) prosecuting Causes of Action, (ii) resolving Disputed
Claims, (iii) administering this Plan, and (iv) filing appropriate
tax returns.

The Reorganized Debtor will establish the Distribution Fund and
will deposit from the estate the Funds for such account. The
Distribution Fund shall be used to pay the post-Confirmation Date
expenses of the estate, including the fees and expenses of the
Reorganized Debtor (for implementing and administering the Plan),
and its professionals.

The Distribution Fund will be funded from the Available cash,
continued business operations, financings and any recoveries
obtained on behalf of the estate or the Reorganized Debtor after
the confirmation Date. All net proceeds recovered from the Causes
of Action or any other sources after the Effective Date, shall be
deposited into the Distribution Fund.

Any sale, settlement, or other disposition of any of the remaining
assets or the causes of Action may be conducted without further
approval of the Bankruptcy court or as otherwise provided for in
the confirmation order. Until a final decree shall have been
entered, the Reorganized Debtor shall timely pay post-confirmation
quarterly fees to the United States Trustee based on disbursements
made by the Reorganized Debtor or any other disbursements made on
behalf of the Debtor.

A full-text copy of the Amended Plan of Reorganization dated March
28, 2025 is available at https://urlcurt.com/u?l=XEVFQG from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     FORCHELLI DEEGAN TERRANA LLP
     Gerard R. Luckman, Esq.
     Gabriella E. Botticelli, Esq.
     333 Earle Ovington Blvd., Suite 1010
     Uniondale, New York 11553
     Tel No.: (516) 248-1700
     Fax No.: (516) 248-1729

                        About PCP GROUP, LLC

PCP Group LLC, a company in Clearwater, Fla., sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No.
24-42448) on June 10, 2024, with up to $50,000 in assets and up to
$50 million in liabilities. John S. Haskell, chairman and chief
executive officer, signed the petition.

Judge Nancy Hershey Lord oversees the case.

The Debtor is represented by Brian J. Hufnagel, Esq., at Morrison
Tenenbaum, PLLC.


PERFORMANCE MOBILE: Seeks to Hire SingerLewak LLP as Accountant
---------------------------------------------------------------
Performance Mobile Care, LLC seeks approval from the U.S.
Bankruptcy Court for the District of Colorado to employ SL Biggs, a
Division of SingerLewak LLP as accountant.

The firm will evaluate the Debtor's financial affairs and advise on
bookkeeping entries and approaches, account reconciliation,
payroll, financial statement and tax return preparation and other
bankruptcy specific financial matters including monthly budgets,
monthly reports, liquidation analyses and financial projections.

The firm will be paid at these rates:

     Mark Dennis      $450 per hour
     Associates       $350 to $600 per hour

The firm will be paid a retainer in the amount of $10,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mark Dennis, a partner at SL Biggs, a Division of SingerLewak LLP,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Mark D. Dennis, CPA
     SL Biggs, A Division of SingerLewak, LLP
     2000 S. Colorado Blvd., Tower 2, Ste. 200
     Denver, CO 80222
     Tel: (303) 226-5471
     Email: mdennis@slbiggs.com

              About Performance Mobile Care, LLC

Performance Mobile Care, LLC is a vehicle detailing company
specializing in providing mobile detailing services for trucks.

Performance Mobile Care LLC sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No.
25-11281) on March 13, 2025. In its petition, the Debtor reported
assets between $100,000 and $500,000 and liabilities between $1
million and $10 million.

Judge Kimberley H. Tyson handles the case.

The Debtor is represented by Jeffrey A. Weinman, Esq., at Allen
Vellone Wolf Helfrich & Factor P.C.


PETCO HEALTH: S&P Affirms 'B' ICR, Outlook Negative
---------------------------------------------------
S&P Global Ratings affirmed all of its ratings, including its 'B'
issuer credit rating on U.S.-based specialty pet retailer Petco
Health and Wellness Co. Inc.

Petco Health is in the midst of a multi-year, wide-ranging
turnaround effort following a sustained period of underperformance
that has been the result of a challenging operating environment and
company-specific execution issues. Although still in the early
stages, S&P believes management's strategic initiatives centered on
strengthening its operating model will support improving financial
results in 2025.

S&P said, "The negative outlook reflects risks to our base case,
including execution challenges, macroeconomic pressures, and
intense competition, that could cause us to lower our rating on
Petco over the next 12 months if its operating performance and cash
generation are weaker than our expectations.

"The affirmation of our ratings and the negative outlook reflect
our view that a difficult operating environment will challenge
Petco's success in implementing its strategic initiatives to
turnaround business performance and strengthen its financial health
this year. Weaker consumer spending, particularly within its
supplies and companion animals category, and costs associated with
its strategic repositioning, including net closure of 25 pet care
centers, dented Petco's 2024 operating results. Credit metrics
weakened in 2024, with S&P Global Ratings-adjusted leverage and
interest coverage of 4.5x and 2.6x, respectively.

"We believe the actions the company is taking to improve its
operating model and competitiveness will support earnings growth in
2025, following an 11% S&P Global Ratings-adjusted EBITDA decline
in 2024. The company is focused on improving its operational
efficiencies and customer experience to increase store-level
productivity in 2025. We expect the company's initiatives to
optimize product assortment and tailor its promotional strategy
will modestly improve operating margins this year, but it will take
time to implement and carries execution risk. We forecast revenue
will decline roughly 2% in 2025, which incorporates our expectation
for continued pressure on discretionary categories as well as 20-30
net store closures, which is somewhat offset by a modest
improvement in overall pet industry conditions. Still, the industry
remains intensely competitive, and we expect more spending will
continue to shift online. Further, heightened macroeconomic risks
pose a challenge that could lead to weaker-than-expected consumer
spending and higher product costs.

"We project modest S&P Global Ratings-adjusted EBITDA growth in
2025 as Petco manages its cost structure. Our base case projects
adjusted EBITDA margin expanding approximately 40 basis points to
11.4% this year, based on modest improvement in gross margin and
lower SG&A costs. In 2025, Petco will focus on working with its
vendors to improve its gross margins and optimize its assortment
and better leverage its more productive SKUs. Furthermore, the
company plans to be more disciplined in its promotions and pricing
actions to protect its gross margin. In addition, we expect closing
unprofitable stores will improve productivity and lead to better
expense leveraging.

"Although these initiatives carry execution risk, we expect they
will benefit the company's EBITDA margin in 2025. We believe
Petco's tariff exposure is lower than many specialty retailers due
to its large consumables business, which is primarily sourced
domestically. Still, inventory purchases for Petco's own brand
products representing approximately 5% of its merchandise cost of
goods is subject to tariffs from China, Canada, and Mexico. The
company is also indirectly exposed through its national brand
vendors. We believe the company's mitigation strategies will help
offset a portion of the higher costs, but we still expect tariffs
will be a headwind to product margins.

"We expect S&P Global Ratings-adjusted leverage will remain in the
mid-4x area over the next 12 months. Petco's adjusted leverage at
the end of fiscal 2024 was 4.5x, up from 4.1x in fiscal 2023, due
to earnings pressure from lower sales and higher SG&A costs. Given
our expectations for modest adjusted EBITDA growth this year, we
project a slight improvement in leverage to 4.4x. We forecast a
slight reduction in the company's adjusted debt base due to
amortization on its term loan and reduced lease liabilities
resulting from store closures. We expect leverage will improve
towards the low-4x area in 2026 based on improving profitability
stemming from a return to positive sales growth and better gross
margins. Our base-case forecast projects adjusted interest coverage
of around 2.8x in 2025 and 3.2x in 2026 driven by lower interest
expense.

"The company recently introduced a debt-to-EBITDA net leverage
ratio (company defined) target of 2x. We note that the target is
significantly below the company's 4.2x company-adjusted net
leverage as of Feb. 1, 2025. We believe Petco's ability to
meaningfully improve credit protection metrics will depend on the
success of its efforts to strengthen its competitive offering and
generate sustainably profitable topline growth.

"We forecast Petco will generate modestly positive free operating
cash flow (FOCF) over the next 12 months. We expect capex spending
of around $135 million in 2025, consistent with the $128 million
outlay in 2024, as the company reduces its growth investments to
preserve cash flow. We expect the company will spend about 40% of
this year's capex on growth investments (including piloting new
store formats and enhancing its omnichannel capabilities), which we
believe could be scaled back if needed to preserve cash. Petco's
FOCF improved to about $47 million last year, largely driven by a
43% reduction in capex as well as working capital inflows.

"We project Petco will generate about $37 million in reported FOCF
in 2025, as improved operating income is offset by diminished
working capital benefits. The company's liquidity position consists
of $166 million in cash and availability under its ABL facilities.
We believe Petco has time to implement its turnaround initiatives
given its maturities-- its senior secured term loan is due in March
2028.

"The negative outlook reflects the possibility that we could lower
our rating on Petco over the next 12 months if its operating
performance faces greater pressure than we currently forecast,
resulting in weaker credit protection metrics and cash flow
generation."

S&P could lower the rating on Petco if:

-- The company's turnaround is delayed, either due to execution
issues or macroeconomic challenges, leading S&P to believe it will
underperform its base-case forecast;

-- Cash generation weakens relative to our base case, and we do
not expect meaningfully positive FOCF in the future; or

-- Adjusted EBITDA interest coverage deteriorates to below 2.5x.
This would likely result in reported EBITDA interest coverage
declining toward 1x.

S&P could revise its outlook on Petco to stable if:

-- The company improves its operating performance and generates
material positive FOCF; and

-- Adjusted EBITDA interest coverage remains above 2.5x. This
would likely result in reported EBITDA interest coverage of well
above the 1x area.


PHILLIPS TOTAL: Hires Newpoint Advisors as Financial Advisor
------------------------------------------------------------
Phillips Total Care Pharmacy, Inc. seeks approval from the U.S.
Bankruptcy Court for the Western District of Wisconsin to employ
Newpoint Advisors Corporation as financial advisor.

   a. assist Debtor with preparation of its weekly cash collateral
budget;

   b. assist Debtor with preparation of its monthly operating
reports;

   c. assist Debtor with preparation of income and expense
projections in connection with this Case; and

   d. participate in Court hearings in the Case and, if requested,
provide testimony in connection with any hearings before the Court,
such as cash collateral/DIP financing, and confirmation of a
proposed plan of reorganization.

The firm will be paid at these rates:

     Carin Sorvik, CPA, CIRA        $395 per hour
     Paraprofessionals/Staff        $295 to $395 per hour

The firm will be paid a retainer in the amount of $10,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The firm can be reached through:

     Carin Sorvik, CPA
     Newport Advisors Corporation
     896 N Federal Hwy., Ste. 327
     Lantana, FL 33462

              About Phillips Total Care Pharmacy, Inc.

Phillips Total Care Pharmacy Inc. is a retail pharmacy based in
Mauston, Wis.

Phillips Total Care Pharmacy sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-10699) on March
28, 2025. In its petition, the Debtor reported between $1 million
and $10 million in both assets and liabilities.

The Debtor is represented by Claire Ann Richman, Esq., and Michael
P. Richman, Esq., at Richman & Richman, LLC.


PRESPERSE CORPORATION: Taps Covington & Burling as Special Counsel
------------------------------------------------------------------
Presperse Corporation seeks approval from the U.S. Bankruptcy Court
for the District of New Jersey to employ Covington & Burling LLP as
special counsel.

The firm will represent the Debtor regarding insurance matters,
including its pursuit of potential insurance recoveries under its
policies and related plan negotiations involving this asset.

The firm will be billed at these hourly rates:

     Matthew J. Schlesinger, Esq.     $1,750
     Timothy Greszler, Esq.           $1,525
     Senior Lawyers                   $1,425 to $2,625
     Associates                       $825 to $1,375
     Paraprofessionals                $350 to $850
   
In addition, the firm will seek reimbursement for expenses
incurred.

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

The firm can be reached through:
   
     Matthew J. Schlesinger, Esq.
     Covington & Burling LLP
     The New York Building
     620 Eighth Avenue
     New York, NY 10018
     Telephone: (212) 841-1000
     Email: mschlesinger@cov.com

        About Presperse Corporation

Presperse Corporation provides premium specialty ingredients to
formulators of skincare, sun care, hair care, color cosmetics, and
diverse areas of beauty and wellness.

Presperse Corporation sought relief under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 24-18921) on Sept. 9, 2024.
In the petition filed by CFO Mehul Shah, Presperse disclosed $10
million to $50 million in assets and $50 million to $100 million in
debt.

The Hon. Michael B Kaplan presides over the case.

Duane Morris LLP is the Debtors' general bankruptcy counsel.
Getzler Henrich is the Debtors' financial advisor. Kroll
Restructuring Administration LLC is the Debtors' claims and
noticing agent.

The Talc Claimants' Committee retained Robinson & Cole as legal
counsel and GlassRatner, doing business as B. Riley, as financial
advisor, and Legal Analysis Systems to provide advice.

Value Extraction Services is the prepetition future claimants'
representative, and hired Young Conaway as counsel, Ankura
Consulting Group as consultant, and jointly retained, together with
the Talc Claimants' Committee, B. Riley as financial advisor.

Presperse's parent, Sumitomo Corporation of Americas, is providing
post-petition financing and is represented by lawyers at Lowenstein
Sandler.


PUBLISHERS CLEARING: U.S. Trustee Appoints Creditors' Panel
-----------------------------------------------------------
The U.S. Trustee for Region 2 appointed an official committee to
represent unsecured creditors in the Chapter 11 case of Publishers
Clearing House, LLC.
  
The committee members are:

   1. Marc D. Friedman1

   2. AG-We’re 300 Jericho, LLC
      100 Jericho Quadrangle, Suite 116
      Jericho, NY 11753
      Attention: Andrew Newman
      Telephone: (516) 931-5300

   3. Senior Midwest Direct Inc. dba Jeston Mailers
      1005 101st Street, Suite A
      Lemont, IL 60439
      Telephone: (331) 318-7300
  
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 Publishers Clearing House

Publishers Clearing House LLC is a direct-to-consumer company
offering free-to-play digital entertainment. Through its PCH/Media
division, PCH helps brands and advertisers connect with qualified,
responsive audiences across its extensive chance-to-win gaming
platforms. PCH has evolved into a multi-channel media company,
combining digital entertainment, direct-to-consumer marketing, and
commerce to create compelling experiences for users and brands
alike.

Publishers Clearing House filed a voluntary petition for relief
under Chapter 11 of the United States Bankruptcy Code (Bankr.
S.D.N.Y. Case No. 25-10694) on April 9, 2025. The case is pending
before the Honorable Martin Glenn.

Klestadt Winters Jureller Southard & Stevens, LLP is serving as
legal advisor, William H. Henrich and Laurence Sax from Getzler
Henrich & Associates LLC are serving as Co-Chief Restructuring
Officers, SSG Capital Advisors, LLC, is serving as investment
banker, and C Street Advisory Group is serving as strategic
communications advisor to the Company. Omni Agent Solutions is the
claims agent.


RAGI GI: Gets Final OK to Use Cash Collateral
---------------------------------------------
Ravi GI Associates PA, LLP received final approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to use
cash collateral.

Ravi needs to use cash and other cash collateral in which First
Bank asserts an interest to pay its operating expenses.

As protection for the use of its cash collateral, First Bank will
be granted replacement liens on and security interests in Ravi's
personal property and other assets similar to the bank's
pre-bankruptcy collateral.  

In addition, First Bank will continue to receive monthly payments
of $31,916.39 as further protection. Payments started in January.

A copy of the final order and the budget is available at
https://shorturl.at/5o0i3 from PacerMonitor.com.

                   About Ravi GI Associates PA

Ravi GI Associates PA, LLP operates as a healthcare provider in
Monroeville, Pa.

Ravi sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. W.D. Pa. Case No. 25-20012) on January 3, 2025. In its
petition, the Debtor reported assets between $100,000 and $500,000
and liabilities between $1 million and $10 million.

Donald R. Calaiaro, Esq., at Calaiaro Valencik represents the
Debtor as legal counsel.

First Bank, as secured creditor, is represented by:

   Jeremy J. Kobeski, Esq.
   Grenen & Birsic, P.C.
   One Gateway Center, 9th Floor
   Pittsburgh, PA 15222
   (412) 281-7650
   jkobeski@grenenbirsic.com


RONALD JINSKY: Seeks to Hire Krekeler Law,S.C. as Counsel
---------------------------------------------------------
Ronald Jinsky, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Wisconsin to employ Krekeler Law, S.C.
as counsel.

The firm will render these services:

     (a) prepare bankruptcy schedules and statements;

     (b) consult with the Debtor's professionals or representatives
concerning the administration case;

     (c) prepare and review all appropriate pleadings, motions and
correspondence regarding the case;

     (d) represent and appear at and being involved in proceedings
before this court;

     (e) provide legal counsel to the Debtor in its investigation
of the acts, conduct, assets, liabilities, and financial condition,
the operation of its business, and any other matters relevant to
the case;

     (f) analyze the Debtor's proposed use of cash collateral and
financing;

     (g) advise the Debtor its rights, powers and duties;

     (h) advise the Debtor concerning, and assist in the
negotiation and documentation, as applicable, of financing
agreements, debt restructuring, cash collateral arrangements, its
financing and related transactions;

     (i) review the nature and validity of liens asserted against
the property of the Debtor and advise it concerning the
enforceability of such liens;

     (j) advise and assist the Debtor concerning the actions that
it might take to collect and recover property for the benefit of
its estate;

     (k) prepare on behalf of the Debtor all necessary and
appropriate legal documents, and review all financial and other
reports to be filed in this case;

     (l) advise the Debtor concerning and prepare responses to,
legal papers that may filed and served in this case;

     (m) counsel the Debtor in connection with any proposed sales,
leases or use of any assets of the Debtor's bankruptcy estates;

     (n) assist in preparation of the disclosure statement and plan
of reorganization and attend negotiations and hearings;

     (o) attend meetings and negotiate with representatives of
creditors and other parties in interest; and

     (p) perform all other legal services for and behalf of the
Debtor that may be necessary or appropriate in the administration
of this case and the reorganization of its business.

The firm will be paid at these rates:

     J. David Krekeler, Shareholder      $444 per hour
     Daniel J. McGarry, Associate        $350 per hour
     Associate Attorneys                 $225 to $275 per hour
     Paralegals                          $100 to $135 per hour

In addition, the firm will seek reimbursement for expenses
incurred.

The firm received from the Debtor an advance fee of $20,518.80.

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

The firm can be reached through:

     Daniel J. McGarry, Esq.
     Krekeler Law, S.C.
     26 Schroeder Ct. Suite 300
     Madison, WI 53711
     Tel: (608) 258-8555
     Email: dmcgarry@ks-lawfirm.com

              About Ronald Jinsky, LLC

Ronald Jinsky LLC, doing business as Jinsky Trucking, is a
family-owned and operated interstate trucking company based in
Beloit, Wisconsin. Established in 1982, the Company specializes in
transporting general freight, metal sheets, building materials, and
paper products.

Ronald Jinsky LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-10838) on
April 11, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.

The Debtor is represented by Daniel J. McGarry, Esq. at KREKELER
LAW, S.C.


ROOSEVELT UNIVERSITY: Moody's Affirms B2 Issuer & Rev. Bond Ratings
-------------------------------------------------------------------
Moody's Ratings has affirmed Roosevelt University's (IL) B2 issuer
and revenue bond ratings. Total outstanding debt as of fiscal year
end 2024 was approximately $244 million.  The outlook is stable.

RATINGS RATIONALE

Roosevelt University's B2 issuer rating reflects ongoing financial
challenges, including limited headroom to financial covenants on
unrated debt, which includes an escalating MADS coverage at a peak
of 200% in fiscal 2028. Despite improvements in margins and
enrollment growth in fiscal 2024, competitive pressures will
continue to affect pricing power and net tuition revenue.
Enrollment prospects and expense initiatives offer a pathway for
long-term improvement in operational deficits. Financial leverage
adds burden due to annual debt service, but expectations of
stabilization and improvement, along with no plans for additional
debt and continued timely payments, will gradually enhance
financial leverage metrics. The university's stable cash and
investments and its favorable downtown Chicago campus location
provide a solid asset cushion for its liabilities.

The B2 rating on the revenue bonds reflects the issuer rating and
characteristics of the general obligation pledge of the bonds.

RATING OUTLOOK

The stable outlook reflects expectations that the university will
continue to drive efforts to improve enrollment prospects while
also tightly managing expenses to counterbalance revenue
challenges. Deficits are expected to continue to improve as
operational improvement efforts continue to take hold.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

-- Multi-year improvement in operating results translating to
positive operating income

-- Improvement in liquidity position relative to debt and
operations and significant growth of headroom to direct placement
covenants

-- Sustained and growing improvement in enrollment figures

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

-- Degradation of liquidity resulting in inability to meet direct
placement covenants

-- Reductions in enrollment and inability to stabilize net student
revenue

-- Reductions in free cash flow below current levels

PROFILE

Founded in 1945, Roosevelt University is a moderate sized private
university offering undergraduate, graduate and professional degree
programs at its campuses in downtown Chicago and in Schaumburg, a
northwest suburb of Chicago, and online. The university enrolled
3,765 full-time equivalent students in Fall 2024, with operating
revenue of approximately $107 million.

METHODOLOGY

The principal methodology used in these ratings was Higher
Education published in July 2024.


ROVER PROPERTIES: Court Extends Cash Collateral Access to May 30
----------------------------------------------------------------
A U.S. bankruptcy judge signed a consent order allowing Rover
Properties, LLC to use the cash collateral of Fulton Bank, N.A.

The consent order, signed by Judge Michelle Harner of the U.S.
Bankruptcy Court for the District of Maryland, authorized the
company to use its secured creditor's cash collateral until May 30
to pay the expenses related to its real property in Hampstead, Md.

The bank's consent to the use of cash collateral terminates at the
earlier of 5:00 p.m. on May 30, or upon the occurrence of an event
of default under the consent order.

Fulton Bank will receive payment of $6,954.01 this month as
protection for its interest in the cash collateral.

As additional protection, Fulton Bank was granted a first priority
position security interest in and lien on all rental income and
rent receivables acquired, generated, or received by the company
after the bankruptcy filing.

The next hearing is scheduled for May 29.

Fulton Bank is represented by:

   David S. Musgrave, Esq.
   Gordon Feinblatt LLC
   1001 Fleet Street, Suite 700
   Baltimore, MD 21202
   Tel/Fax: (410) 576-4194
   dmusgrave@gfrlaw.com

                      About Rover Properties

Rover Properties, LLC owns a gas station, a convenience store, and
three apartments located at 201 Hanover Pike, Hampstead, Md.,
valued at $1.5 million.

Rover Properties sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 24-18524) on October 9,
2024, with total assets of $1,593,000 and total liabilities of
$968,000. Nikunj M. Patel, company owner, signed the petition.

Judge Michelle M. Harner oversees the case.

The Debtor is represented by:

   William Edward Sherwood, Jr., Esq.
   Fns Law Group
   Tel: 667-755-1000
   Email: info@fnslawgroup.com


RYERSON HOLDING: Moody's Alters Outlook on 'Ba3' CFR to Negative
----------------------------------------------------------------
Moody's Ratings changed Ryerson Holding Corporation's ("Ryerson")
outlook to negative from stable. At the same time, Moody's affirmed
Ryerson's corporate family rating of Ba3, its probability of
default rating of Ba3-PD and a Ba3 rating of Joseph T. Ryerson &
Son's $1.3 billion backed senior secured revolving credit facility.
Joseph T. Ryerson & Son's outlook was also changed to negative from
stable. Moody's maintained the Speculative Grade Liquidity Rating
of SGL-2 at Ryerson.

RATINGS RATIONALE

The change in the ratings outlook to negative from stable reflects
the deterioration in Ryerson's operating and financial performance,
softer demand in several end markets it serves and higher
borrowings, which led to a sharp decline in earnings, elevated
leverage and overall weak credit metrics. The change in the outlook
also reflects the risk that despite higher steel prices and the
completion of the 3-year capex program, which should lead to higher
revenues and EBITDA, the company's performance will not improve
materially in 2025-26 and its credit metrics will remain weak for
the current rating.

Ryerson's Ba3 corporate family rating is supported by the company's
overall size and scale, its product and customer diversification,
countercyclical working capital needs, limited maintenance capex
requirements and good liquidity profile. The rating also benefits
from the material debt reduction completed in 2018-2022 which
enhanced its business resilience through periods of sector
volatility. Ryerson's rating is constrained by its reliance on
cyclical end markets, exposure to volatile steel and metals prices
and the highly competitive metals distribution sector which
typically results in somewhat weak and volatile profit margins
through the cycle. Ryerson's rating also reflects its private
equity ownership and increased focus on shareholder returns.

Ryerson's operating performance weakened during Q4 2024 and the
full year 2024 due to lower prices, operational disruptions and
subdued end market demand. For the full year 2024, revenue was $4.6
billion, down 10.0% from 2023, with average selling prices
decreasing by 9.7% year-over-year. Moody's-adjusted EBITDA of $165
million for the full year 2024 was down significantly from 2023
EBITDA of $338 million. The combination of materially lower
earnings and modestly higher borrowings led to Moody's-adjusted
leverage rising sharply from 2.6x at the end of 2023 to 5.5x at the
year-end 2024, which is notably higher than Moody's downgrade
trigger of 4x. Operating margin declined from 4.7% in 2023 and 9.3%
in 2022 to 1% in 2024, which is significantly lower than Moody's
downgrade trigger of 6%, and along with other metrics, weak for the
current rating.

The underperformance was driven by several factors, including
slightly lower volumes, lower prices, and weaker demand across key
end markets such as HVAC, construction equipment, and industrial
machinery. Margin compression was evident throughout 2024, driven
by lower average selling prices and increased costs related to
personnel, operating expenses, and delivery expenses. Significant
capex spending, the transition to a new ERP system for a portion of
the company's business and the relocation and expansion of
facilities involved substantial costs and caused operational
disruptions, impacting volumes, service levels and margins. Despite
these challenges, Ryerson managed to generate Moody's-adjusted free
cash flow of $84 million (after dividend payments of $25 million)
for the full year 2024, driven largely by its countercyclical
working capital management. The company applied all of its 2024
free cash flow to acquisitions and share repurchases.

Moody's expects Ryerson's performance to improve in the next 12-18
months aided by the projected modest growth in shipments, higher
product pricing, operational efficiencies and improved service
levels following the completion of its 3-year capex program.
Domestic steel prices recently strengthened from around their
10-year average because of the steel tariffs imposed by Trump
administration. Hot-rolled coil (HRC) prices have increased to
above $900 per short ton from a range of about $650-$700 per short
ton during the second half of 2024. Rising steel prices are
beneficial for Ryerson as they typically lead to margin expansion
and higher cash flows.

Moody's estimates that Ryerson will generate $170-190 million in
Moody's-adjusted EBITDA in 2025, $260-290 million in 2026, and
$30-40 million in positive free cash flow (after dividends)
annually. Higher earnings and the anticipated moderate reduction in
gross debt should lead to leverage falling to low-mid 3x in 2026,
which would be commensurate with the current rating. However, there
is risk that steel and metals demand and prices could weaken as the
year progresses with inflationary cost pressures, elevated interest
rates and policy uncertainty potentially weighing on economic
growth. This could lead to lower than expected shipments, capacity
utilization, weaker pricing and persistently low operating margins
for Ryerson.

Ryerson's SGL-2 speculative grade liquidity rating reflects its
good liquidity profile consisting of $28 million of unrestricted
cash and $376 million of availability on its $1.3 billion revolving
credit facility as of December 31, 2024. This facility was amended
in late June 2022 and was upsized to $1.3 billion from $1.0 billion
while its maturity date was extended to June 2027 from November
2025. The revolver had $470 million of outstanding borrowings and
$1 million of letters of credit issued at the year-end 2024. The
company is expected to generate modest free cash flow in the near
term, supported by the anticipated improvement in its operating
performance and higher product pricing.

Ryerson's negative ratings outlook reflects the risk that the
company's operating performance will not recover materially in the
next 12-18 months and its credit metrics will remain weak for a Ba3
rating.

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

An upgrade of Ryerson's ratings could be considered if it sustains
an adjusted leverage ratio below 3.0x and EBIT margins of at least
8.0% while maintaining a good liquidity profile.

Ryerson's ratings could be downgraded if its operating performance
and credit metrics remain weak, and it sustains a leverage ratio
above 4.0x and EBIT margins below 6.0% or experiences a significant
deterioration in its liquidity. More aggressive financial policies
such as debt-financed dividends, share repurchases or acquisitions
could also result in a downgrade.

Ryerson Holding Corporation, through various operating
subsidiaries, is the second largest metals service center company
in North America, with over 110 facilities in the US, Canada and
Mexico, including four locations in China. Ryerson provides a full
line of carbon steel, stainless steel and aluminum products to,
approximately, 40,000 customers in a broad range of end markets.
The company generated revenues of approximately $4.6 billion for
the full year 2024. Ryerson was controlled by Platinum Equity since
2007 but Platinum's ownership interest declined from 54% to about
12.3% as of December 31, 2024.

The principal methodology used in these ratings was Distribution
and Supply Chain Services published in December 2024.


SASH GROUP: Seeks to Hire RHM Law as General Bankruptcy Counsel
---------------------------------------------------------------
Sash Group, Inc. seeks approval from the U.S. Bankruptcy Court for
the Southern District of California to hire RHM Law LLP as its
general bankruptcy counsel.

The firm will provide these services:

    a. advice and assistance regarding compliance with the
requirements of the United States Trustee (UST);

    b. advice regarding matters of bankruptcy law, including the
rights and remedies of the Debtor in regard to its assets and with
respect to the claims of creditors;

    c. advice regarding cash collateral matters;

    d. examinations of witnesses, claimants or adverse parties and
to prepare and assist in the preparation of reports, accounts and
pleadings;

    e. advice concerning the requirements of the Bankruptcy Code
and applicable rules;

    f. assistance with the negotiation, formulation, confirmation
and implementation of a Chapter 11 plan of reorganization; and

    g. appearances in the Bankruptcy Court on behalf of the Debtor;
and

    h. provision of such other action and to perform such other
services as the Debtor may require.

The firm will be paid at these rates:

     Roksana D. Moradi-Brovia     $650 per hour
     Paralegals                   $135 per hour

The firm received an initial retainer fee of $75,000 for its
representation of the Debtor in this case.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Roksana D. Moradi-Brovia, Esq., a partner at RHM Law LLP, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Roksana D. Moradi-Brovia, Esq.
     RHM LAW LLP
     17609 Ventura Blvd., Suite 314
     Encino, CA 91316
     Telephone: (818) 285-0100
     Facsimile: (818) 855-7013
     Email: roksana@RHMFirm.com

        About Sash Group Inc.

Sash Group Inc. is the San Diego-based company behind 'The Sash
Bag' brand of crossbody handbags and accessories.

Sash Group sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Cal. Case No. 25-01150) on March 25, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $1 million and $10 million each.

Matthew D. Resnik, Esq. at Rhm Law LLP represents the Debtor as
counsel.


SCANROCK OIL & GAS: Submits Chapter 11 Plan
-------------------------------------------
Rick Archer of Law360 reports that on April 28, 2025, hydrocarbon
driller Scanrock Oil & Gas filed its Chapter 11 plan in a Texas
bankruptcy court, outlining its intent to repay secured lenders
through the sale of its Oregon ranch and to satisfy other creditor
claims using proceeds from additional real estate sales and exit
financing.

               About Scanrock Oil & Gas Inc.

Scanrock Oil & Gas Inc. operates an integrated oil and gas
exploration and production platform.

Scanrock Oil & Gas Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Texas Case No. 25-90001) on February
3, 2025. In its petition, the Debtor reports estimated assets
between $10 million and $50 million and estimated liabilities
between $50 million and $100 million.

Honorable Bankruptcy Judge Mark X. Mullin handles the case.

The Debtor is represented by Thomas Daniel Berghman, Esq. at Munsch
Hardt Kopf & Harr PC.

The U.S. Trustee for Region 6 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.


SELECTIS HEALTH: Ongoing Losses Put Co.'s Future in Jeopardy
------------------------------------------------------------
Kathleen Steele Gaivin of McKnights Senior Living reports that
Selectis Health, based in Greenwood Village, CO, has raised red
flags over its financial future in a recent annual report submitted
to the Securities and Exchange Commission. Previously known as
Global Healthcare REIT, the company owns and manages independent
living, assisted living, and skilled nursing facilities, primarily
in the South and Southeast. According to the filing, Selectis ended
2023 with a net loss of $2.4 million and a working capital
shortfall of $16.1 million.

"These conditions, among others, create substantial doubt about our
ability to continue as a going concern within one year of issuing
these financial statements," the filing stated. Continued
operations will depend on boosting revenue, cutting expenses,
achieving consistent profitability, and securing adequate
financing.

While previous filings in 2023 and 2024 acknowledged risks,
Selectis had expressed confidence those concerns could be
addressed. The last optimistic outlook came in its 2022 report.

To remain operational, Selectis said it must advance its business
plan, lower overhead—such as by reducing salaries—and negotiate
its liabilities. However, the company cautioned there is no
certainty these efforts will succeed, the report states.

Still, the industry has seen turnarounds before. In 2018, Five Star
Senior Living faced similar concerns and recovered after
restructuring its business relationship with Diversified Healthcare
Trust, the report relays.

                   About Selectis Health

Headquartered in Greenwood Village, Colo., Selectis Health, Inc.
owns and operates, through wholly-owned subsidiaries, Assisted
Living Facilities, Independent Living Facilities, and Skilled
Nursing Facilities across the South and Southeastern portions of
the US. In 2019, the Company shifted from leasing long-term care
facilities to third-party, independent operators towards an owner
operator model.  

As of Sept. 30, 2024, Selectis Health had $33.93 million in total
assets, $38.76 million in total liabilities, and a total
stockholders' deficit of $4.83 million.

For the nine months ended September 30, 2024, the Company had
negative operating cash flows of $1,401,076 and negative net
working capital of $16.7 million. As a result of its losses and its
projected cash needs, substantial doubt exists about the Company's
ability to continue as a going concern.


SILGAN HOLDINGS: Egan-Jones Retains BB Senior Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings Company on April 22, 2025, maintained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Silgan Holdings Inc. EJR also withdrew rating on
commercial paper issued by the Company.

Headquartered in Stamford, Connecticut, Silgan Holdings Inc. and
its subsidiaries manufacture consumer goods packaging products.


SKYWEST INC: Egan-Jones Retains B Senior Unsecured Ratings
----------------------------------------------------------
Egan-Jones Ratings Company on April 25, 2025, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by SkyWest, Inc. EJR also withdrew rating on commercial
paper issued by the Company.

Headquartered in St. George, Utah, SkyWest, Inc. operates regional
airlines that offer scheduled passenger service to destinations in
the United States, Canada, Mexico, and the Caribbean.


SUMMIT BEHAVIORAL: Moody's Cuts CFR to 'Caa1', Outlook Stable
-------------------------------------------------------------
Moody's Ratings downgraded Summit Behavioral Healthcare, LLC's
("Summit") corporate family rating to Caa1 from B3, probability of
default rating to Caa1-PD from B3-PD, and instrument-level ratings
on the senior secured first lien bank credit facilities to Caa1
from B3. The outlook remains stable.

The downgrade reflects the company's weak profitability and very
high leverage following patient and payor mix changes in 2024.
Improvement in Summit's earnings and leverage is dependent on
progress of the company's operational initiatives, creating
execution risk. Potential for additional pressure on revenue from
government payors also creates risk to Moody's forward views of
Summit's operations.

Governance risk considerations were considered a key driver of this
rating action, reflecting Summit's very high financial leverage and
increased reliance on its revolver, creating refinancing risk given
its November 2026 expiration.

RATINGS RATIONALE

Summit's Caa1 CFR reflects the company's very high financial
leverage, which Moody's expects to remain elevated and above 10x
over the next 12-18 months. The rating is constrained by the
company's modest scale and narrow business focus on substance use
disorder and acute psychiatric treatment. Additionally, Moody's
views Summit's growth strategy as aggressive as it involves
expansion through build-outs of new facilities and acquisitions,
which have historically been funded through a combination of debt
and cash flow.

The rating is supported by Summit's reputation in the
highly-fragmented substance use disorder treatment market, which
Moody's views as having solid growth fundamentals. Summit's good
geographic and customer diversity are also favorable to the
rating.

Moody's expects Summit to maintain weak liquidity over the next
12-18 months. In 2025, Moody's expects Summit will generate
negative free cash flow after considering Moody's forecasts of
about breakeven funds from operations, net usage of working
capital, and capital investment. Therefore, Moody's expects Summit
to further rely on its $176.9 million revolving credit facility,
which had $62 million in borrowings as of December 31, 2024. While
the revolver provides some buffer for cash needs, it expires in
November 2026, and Moody's views the likelihood that Summit will
have sufficient liquidity to repay all outstanding borrowings at
expiry as low.

The stable outlook reflects Moody's expectations that Summit will
benefit from good fundamental demand for its services and make
progress on executing its operational improvement initiatives.
Despite the company's high debt burden, Moody's views asset
coverage of the company's debt obligations as sufficient to support
the stable outlook.

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

The ratings could be upgraded if Summit improves its operating
performance and profitability, while effectively managing its
growth strategy. The ratings could be upgraded if adjusted
debt/EBITDA approaches 7.0x.

The ratings could be downgraded if the probability of default
increases or the risk of a transaction Moody's would deem a
distressed exchange increases. The ratings could also be downgraded
if there is further decline of Summit's operating performance or if
liquidity deteriorates.

The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.

Summit Behavioral Healthcare, LLC – Headquartered in Franklin, TN
– is a provider of substance use disorder (SUD) and acute
psychiatric treatment. Summit operates 38 facilities in 20 states
with a focus on inpatient, detox, residential and outpatient
services. The company generated roughly $590 million revenue for
the fiscal year ended December 31, 2024. Summit Behavioral
Healthcare, LLC is owned by private equity firm Patient Square
Capital.


SUNNOVA ENERGY: In Talks to Get Funding for Possible Bankruptcy
---------------------------------------------------------------
Reshmi Basu, Jill R. Shah, and Mark Chediak of Bloomberg News
reports that Sunnova Energy International Inc., a provider of
rooftop solar-panel systems, is in talks with creditors to secure
financing that could support a potential bankruptcy filing,
according to sources familiar with the matter.

The discussions are part of a dual-track strategy, with the company
preparing for a possible Chapter 11 filing while also exploring
bridge financing to allow more time for an out-of-court debt
restructuring, the sources said, requesting anonymity due to the
private nature of the talks.

The negotiations come as the financially troubled Houston-based
firm faces mounting time pressure, the report states.

              About Sunnova Energy

Sunnova Energy International Inc. (NYSE: NOVA) is an
industry-leading adaptive energy services company focused on making
clean energy more accessible, reliable, and affordable for
homeowners and businesses. Through its adaptive energy platform,
Sunnova provides a better energy service at a better price to
deliver its mission of powering energy independence.

Founded in Houston, Texas in 2012, Sunnova started its journey to
create a better energy service at a better price. Driven by the
changing energy landscape, technology advancements, and demand for
a cleaner, more sustainable future, we are proud to help pioneer
the energy transition.


TGP HOLDINGS III: Moody's Alters Outlook on 'Caa1' CFR to Negative
------------------------------------------------------------------
Moody's Ratings changed TGP Holdings III LLC's (Traeger) outlook to
negative from positive. At the same time, Moody's affirmed
Traeger's ratings, including its Caa1 Corporate Family Rating,
Caa1-PD Probability of Default Rating, and the Caa1 rating on the
company's senior secured first lien bank credit facilities. The
first lien bank credit facilities consist of a $125 million first
lien revolver due 2026, and a $535 million original principal
amount first lien term loan due 2028. Traeger's speculative grade
liquidity (SGL) rating remains unchanged at SGL-3.

The negative outlook reflects the demand headwinds for Traeger's
products from weakening discretionary consumer spending and
uncertainty around the potential for a material decline in
profitability and cash flow generation due to weak macro-economic
conditions and its significant exposure to tariffs.

Softer consumer discretionary spending due to the cumulative effect
of high inflation and weaker economic outlook will dampen demand
for the company's products, particularly its premium priced outdoor
grills. In addition, Trager has significant exposure to US tariffs.
The company sources about 80% of its outdoor grills from China,
with the remainder 20% from Vietnam. Traeger has taken proactive
actions to mitigate a portion of the increased tariff costs by
working with its sourcing partners, optimizing supply chain, cost
management, and price increases. Moody's believes there is risk
that these actions will not fully mitigate the additional costs and
that actions such as price increases may result in volume declines
in a pressured consumer environment.

Additionally, risks to Traeger's business remain elevated given the
high earnings seasonality centered around the gill selling season
in the spring and summer months. Consumer demand could meaningfully
deteriorate during the selling season given currently high
uncertainty from increased recessionary risks and tariffs, which
could exacerbate the potential decline in profitability. The
company also faces refinancing risk related to the upcoming
expiration of its $125 million revolving credit facility due in
June 2026, because of a more risk averse credit market and the
company's weak credit metrics with elevated debt/EBITDA leverage at
7.1x as of year-end 2024.

The ratings affirmation reflects that Moody's anticipates Traeger
will maintain adequate liquidity supported by its access to a
committed accounts receivables (AR) factoring facility of up to $75
million expiring in August 2027, which provides some financial
flexibility to fund business and working capital seasonality over
the next 12 months.

RATINGS RATIONALE

Traeger's Caa1 CFR broadly reflects its modest relative scale with
annual revenue of around $604 million and narrow product focus with
limited geographic diversification. The discretionary nature of
outdoor grills and Traeger's premium priced grills and accessories,
exposes the company to cyclical changes in consumer discretionary
spending. The company's financial leverage is high with debt/EBITDA
at around 7.1x as of fiscal year ending December 31, 2024. Traeger
sources the majority of its outdoor grills and accessories mostly
from China, exposing its supply chain to manufacturing issues
affecting the region, including tariffs. Moody's expects that
demand headwinds from weaker consumer discretionary spending and
increased tariffs cost will negatively impact the company's
profitability and cash flow generation over the next 12-18 months.
Traeger has high customer concentration, and its earnings and cash
flows are highly seasonal, centered around the spring and summer
months.

Traeger's rating also reflects its solid market position within the
niche wood pellet grill industry, and its strong brand image
supported by its good track record of product innovation. The
company benefits from the recurring nature of its sizable
consumables segment that is more resilient to cyclical downturns,
and its growing installed base. Traeger also benefits from its
growing direct-to-consumer and accessories businesses, and
increased distribution in the grocery channel. The company's
Speculative Grade Liquidity Rating of SGL-3 reflects Traeger's
adequate liquidity with a cash of $15 million and access to an
undrawn $125 million first lien revolver due 2026, and a committed
up to $75 million accounts receivable facility as of fiscal
year-end 2024. There is refinancing risk related to the upcoming
maturity of the revolving facility given the company's high
leverage and current risk averse credit market conditions, but the
AR facility provides some financial flexibility to fund seasonal
investments in working capital.

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

The negative outlook reflects the weakening consumer spending on
discretionary goods, and the uncertainty around the impact of
increased tariff costs on the company's profitability and cash flow
generation and potential for volume pressures due to price
increases.

The ratings could be upgraded if the company demonstrates a track
record of improving financial operating results including EBITDA
margin recovering towards historical levels, and generates positive
free cash flows with good levels of reinvestments on an annual
basis, while debt/EBITDA is sustained below 6.5x. A ratings upgrade
would also require the company to maintain at least adequate
liquidity, including extending the expiration of its revolver past
2026.

Ratings could be downgraded if the company's revenue and EBITDA
deteriorate due to factors such as weaker consumer discretionary
spending, lower volumes, tariff costs, or supply chain disruptions.
The ratings could also be downgraded if liquidity deteriorates for
any reason including negative free cash flow on an annual basis,
the company does not proactively address the approaching expiration
of its revolver due June 2026, or there is limited availability on
the revolver facility.

Headquartered in Salt Lake City, Utah, TGP Holdings III LLC
("Traeger") is a designer and distributor of wood pellet grills,
grill accessories and related consumables, primarily in North
America. Following the July 2021 initial public offering (IPO) of
Traeger, Inc., funds affiliated with AEA Investors, Ontario
Teachers' Pension Plan Board, and Trilantic Capital Partners
maintain a controlling interest of around 60% in the company.
Traeger, Inc. is the indirect parent of TGP Holdings III LLC, and
its common stock is listed under the ticker symbol "COOK". Traeger
reported revenue of around $604 million for the fiscal year 2024
ending December 31, 2024.

The principal methodology used in these ratings was Consumer
Durables published in September 2021.


TULSA MUNICIPAL: Fitch Rates New Special Facility Bonds 'B+'
------------------------------------------------------------
Fitch Ratings has assigned a rating of 'B+' with a Recovery Rating
of 'RR4' to the proposed special facility revenue bonds to be
issued by the Tulsa Municipal Airport Trust on behalf of American
Airlines, Inc. Fitch has also affirmed the ratings for American
Airlines Group, Inc. and its main operating subsidiary American
Airlines, Inc. at 'B+'. The Rating Outlook is Stable.

The trust intends to use proceeds of the issuance to finance
improvements to American's overhaul and maintenance base at Tulsa
International Airport and to refinance the refund of a prior series
of revenue bonds. The bonds do not constitute indebtedness of the
State of Oklahoma or the City of Tulsa.

American's ratings are supported by its robust business profile and
strong competitive position in the consolidated U.S. airline
industry. American's credit metrics remain pressured by operating
margin underperformance relative to peers. The Stable Outlook
incorporates Fitch's expectations for leverage to trend lower over
time.

Key Rating Drivers

Revenue Bond Ratings: Fitch rates American's Tulsa revenue bonds
'B+'/'RR4', which is lower than the 'BB' rating on its secured debt
issuances. This differentiation reflects the potential uncertainty
in recovery value for creditors if the company chooses to reject
the lease in a bankruptcy scenario. The bonds benefit from a
leasehold interest in American's Tulsa maintenance base. However,
Fitch views the potential value from re-letting the facilities as
less certain than for revenue bonds backed by space at desirable
airports or American's other secured obligations.

Fitch believes the Tulsa bonds hold a more favorable position than
American's general unsecured debt obligations. The Tulsa
maintenance base is important to the airline's daily operations,
given the maintenance work conducted at the facility. A provision
also requires the trustee to pursue reletting options in the
unexpected event that the lease is rejected in a hypothetical
bankruptcy. These factors contribute to relatively higher recovery
expectations compared to unsecured creditors.

Leverage Temporarily Elevated: Fitch calculates American's EBITDAR
leverage at 5x at YE 2024, at the high end of Fitch's negative
leverage sensitivity. Fitch expects leverage to rise modestly in
2025 due to margin pressure driven by a soft demand environment,
but to decline over the longer term, trending toward the mid 4x
range over the next two years, primarily driven by debt reduction.
American's ratings could come under pressure should a downturn
prove deeper than expected, potentially delaying debt reduction
targets or driving up leverage expectations beyond 2025.

American's focus on paying down debt is supportive of the rating.
The company reached its prior goal of reducing total debt by $15
billion (including pension liabilities) from peak levels ahead of
schedule. It also moved up its prior goal of bringing total debt
below $35 billion by a year from YE 2028 to YE 2027 and is publicly
committed to achieving 'BB' metrics and ratings. Fitch views
American's debt reduction goal as achievable given projected FCF
over the next three years.

Margin Underperformance: Fitch projects margins may decline
modestly in 2025 before rebounding in 2026. The forecast assumes
low single-digit unit revenue declines in 2025 driven by consumer
pressures and uncertainty on travel bookings. Unit revenue
pressures may be partly offset by lower fuel prices, which have
declined in recently on macroeconomic concerns. Fitch expects
American's margins will continue to underperform its network peers.
However, there is potential for improvement beyond 2025 as the
company sees benefits from its renewed co-branded credit card
agreement, recovers historical share of indirect channel revenue,
and some cost pressures ease.

Demand Environment Favors Network Carriers: Fitch anticipates that
American, while less well positioned than Delta and United, will
outperform low-cost competitors in the current environment. Fitch
expects legacy carriers like American to benefit as unprofitable
airlines reduce capacity in response to softer demand. American's
diversified revenue streams, including a strong loyalty program,
and its broad route networks appeal to a wider group of travelers.
Additionally, international traffic and premium travel are likely
to remain relatively resilient compared to low-cost leisure travel,
further supporting American's competitive position.

Positive FCF: Manageable capex over the next several years will aid
American's efforts to generate FCF. Aircraft deliveries are
manageable for the foreseeable future, as the company completed its
fleet renewal program prior to the pandemic. The company has guided
to total capital spending of $3 billion-3.5 billion in 2025, a
level that remains lower than its peers. Fitch expects FCF to be
lower than its prior forecast due to margin pressures but to remain
positive for the next three years, allowing for continued debt
reduction.

Financial Flexibility: American's financial flexibility remains
supportive of the rating. At YE 2024, American maintained over $10
billion in total liquidity. It also has a material balance of
unencumbered assets that can be leveraged to bolster liquidity if
needed. American's loyalty program debt financing amortizes rapidly
in the coming years, freeing up the potential to re-tap those
assets. Debt payments are material, totaling between $4.2 billion
and $5.3 billion annually between 2025 and 2028. Fitch views
American's maturities as manageable given current liquidity and
available assets.

Peer Analysis

American is rated below its network peers United Airlines
(BB/Positive) and Air Canada (BB/Stable). The rating differential
reflects lower leverage and moderately better profit margins for
both peers. In the near-to intermediate term, Fitch expects United
and Air Canada's adjusted leverage to remain in the mid-3x range,
compared to around 5x-6x for American.

Leverage differences are partly countered by better FCF generation
prospects for American relative to United, driven by its more
limited upcoming capital spending requirements. Business profiles
are similar for American and United. While Air Canada is smaller
and more exposed to long-haul traffic than its U.S. peers, it
benefits from operating in a largely duopolistic market. American
is rated one notch above JetBlue (B/Negative). JetBlue's ratings
suffer from elevated leverage driven by weak profitability, along
with a more difficult competitive position as a smaller operator in
a consolidated market.

Key Assumptions

Fitch's Key Assumptions Within Its Rating Case for the Issuer
Include

- Roughly flat traffic in 2025 followed by low single digit growth
thereafter;

- Low single digit unit revenue decline in 2025 followed by low
single digit growth thereafter;

- Jet Fuel at around $2.35/gallon in 2025 and rising to $2.40
thereafter;

- Low single digit FCF generation in each of the next three years;

- Capital expenditures in line with the company's estimates.

Recovery Analysis

Fitch's recovery analysis assumes that American 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 it bases the enterprise
valuation. Fitch uses a GC EBITDA estimate of $5.5 billion and a
5.0x multiple generating an estimated GC enterprise valuation (EV)
of $27.5 billion.

The GC EBITDA estimate is reflective of a scenario in which an
American bankruptcy is driven by an untenable capital structure.
Fitch would not anticipate American shrinking in a material way in
a reorganization due to the company's strong position in key hubs
and its young asset base. Fitch's estimate considers a scenario
where margins are structurally lower than historical precedents
potentially due to a combination of higher operating costs (labor,
fuel, etc.). and increasing competition.

An EV multiple of 5.0x EBITDA is applied to the GC EBITDA to
calculate a post-reorganization enterprise value. The choice of
this multiple considered the following factors: historical
bankruptcy case studies with exit multiples for peer companies
ranging from 3.1x to 6.8x. The selection of a multiple towards the
mid-point of the range is supported by American's large scale and
its entrenched position in key hubs.

These assumptions lead to an estimated recovery of 'RR1' for
American's loyalty program debt and recovery of 'RR2' for senior
secured debt positions.

RATING SENSITIVITIES

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

- Adjusted debt/EBITDAR sustained above 5x or EBITDAR/gross
interest + rent trending below 1.5x;

- Total liquidity falling toward or below $8 billion absent a
corresponding decrease in outstanding debt;

- EBITDAR margins deteriorating to the low double-digit range;

- Persistently negative or negligible FCF.

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

- Continued progress toward American's stated debt reduction goals,
bringing adjusted debt/EBITDAR towards or below 4x;

- EBITDAR/gross interest + rent trending toward 2.5x;

- Sustained neutral FCF or higher.

Liquidity and Debt Structure

As of March 31, 2025, American held $10.8 billion in liquidity,
consisting of $6.6 billion short-term investments, $835 million in
cash and cash equivalents, and full availability on their $3.3
billion aggregate revolving credit facilities maturing in 2029.
Total liquidity, including undrawn revolver capacity, is equivalent
to 19.9% of LTM revenue. American's liquidity is down from over $14
billion a year ago largely reflecting cash directed toward debt
reduction. Liquidity is around American's medium-term target of
approximately $10 billion and provides significant cushion against
near-term market weakness.

Principal payments remain around $4 billion-$5 billion annually
through 2028. Refinancing risk has decreased over the past year as
American has taken steps to address its 2025 debt tower, which once
stood at over $9 billion. Fitch expects American to address
maturities through a combination of FCF and borrowing against new
deliveries. The company also has options to leverage unencumbered
assets or to re-tap existing secured financings if needed to
address debt payments as they come due.

Issuer Profile

American Airlines Group was formed out of the merger between
American Airlines and US Airways in 2013. The company is the
world's second largest airline by available seat miles.

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
   -----------              ------         --------   -----
American Airlines
Group Inc.            LT IDR B+  Affirmed             B+

AAdvantage
Loyalty IP Ltd.

   senior secured     LT     BB+ Affirmed    RR1      BB+

American Airlines,
Inc.                  LT IDR B+  Affirmed             B+

   senior secured     LT     B+  New Rating  RR4

   senior secured     LT     BB  Affirmed    RR2      BB


TZADIK RAPID: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Tzadik Rapid City Portfolio I LLC
        2450 Hollywood Blvd Ste 503
        Hollywood, FL 33020

Business Description: Tzadik Rapid City Portfolio I LLC is a real
                      estate investment company based in
                      Hollywood, Florida.  The firm focuses on
                      multifamily properties and operates under
                      the Tzadik Management Group, which handles
                      property management, asset management, and
                      construction management.

Chapter 11 Petition Date: April 27, 2025

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 25-14655

Judge: Hon. Scott M Grossman

Debtor's Counsel: Morgan B. Edelboim, Esq.
                  EDELBOIM LIEBERMAN PLLC
                  2875 NE 191st Street, Penthouse One
                  Suite 905
                  Miami, FL 33180
                  Tel: 305-768-9909
                  Email: morgan@elrolaw.com

Total Assets: $24,700,000

Total Liabilities: $16,728,078

The petition was signed by Adam Hendry as managing member.

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

https://www.pacermonitor.com/view/XSJEG3Y/Tzadik_Rapid_City_Portfolio_I__flsbke-25-14655__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                           Nature of Claim   Claim Amount

1. Aspen Ridge Lawn &                  Business             $2,403
Landscape LLC                         Operations
7887 Sheridan Lake Rd
Rapid City, SD 57702

2. Black Hills Energy - UM            Trade Debt           $21,163
PO Box 6001
Rapid City, SD 57701

3. City of Rapid City                 Trade Debt            $8,173
Rapid City Utility
Billing Office
Rapid City, SD 57701

4. City of Rapid City - UM            Trade Debt           $21,450
300 6th Street
Rapid City, SD 57701

5. Conservice LLC                     Trade Debt           $11,042
P.O. Box 1500
Hemet, CA 92546

6. Drain Kings LLC                    Trade Debt            $5,335
PO Box 52
Rapid City, SD 57709

7. Haber Law                          Trade Debt            $2,730
251 NW 23 Street
Miami, FL 33127

8. Home Depot U.S.A., Inc.                                  $3,574
2455 Paces Ferry Road
Atlanta, GA 30339

9. IPFS Corporation                   Trade Debt            $7,660
24722 Network Place
Chicago, IL 60673

10. Justice Fire & Safety, Inc.       Trade Debt              $934
3601 N Potsdam Ave
Sioux Falls, SD 57104

11. Kieffer Sanitation - UM           Trade Debt            $4,377
PO Box 2754
Rapid City, SD 57709

12. Midwestern Mechanical, Inc.       Trade Debt           $24,389
4105 N Lewis Ave
Sioux Falls, SD 57104

13. Montana - Dakota                  Trade Debt            $6,114
Utilities - UM
PO Box 5600
Bismarck, ND 58506

14. Muellenberg Electric, Inc.        Trade Debt            $5,752
PO Box 4128
Rapid City, SD 57709

15. RentPath Holdings Inc.            Trade Debt            $2,018
dba Apart Guide

16. Small Business Administration                         $137,000
2 North Street, Suite 320
Birmingham, AL 35203

17. Smoot & Utzman, PC                Trade Debt           $19,833
14 St. Joseph Street
Rapid City, SD 57701

18. The Sherwin Williams Company      Trade Debt            $2,377
PO Box 743885
Atlanta, GA 30374

19. Waste Solution Services           Trade Debt            $2,444
26 Columbia Ave.
Cedarhurst, NY 11516

20. Wegner Roofing &                  Trade Debt            $3,912
Solar Corporation
902 Central Ave
Billings, NT 59102


VOYAGER PARENT: S&P Assigns 'B' ICR, Outlook Positive
-----------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to Voyager
Parent LLC. S&P also assigned its 'B' issue-level rating and '3'
recovery rating to the proposed revolving credit facility, term
loan B, and senior secured notes.

Voyager Parent LLC, a newly formed holding company ultimately owned
by Apollo Global Management, is acquiring Everi Holdings Inc. and
International Game Technology PLC's gaming and digital business
(IGT Gaming) for about $6.7 billion.

Voyager plans to issue a $750 million revolving credit facility due
2030, a $2.575 billion term loan B due 2032, $1.75 billion in
senior secured notes due 2032, and $2.35 billion of common equity
to fund the acquisitions of IGT Gaming and Everi, pay fees and
expenses, and add cash to the balance sheet.

S&P said, "The positive outlook reflects the possibility we could
raise the ratings one notch if the company successfully integrates
the merger in a manner that drives its S&P Global Ratings-adjusted
leverage pro forma for the financing to the low-5x area in 2025 and
below 5x in 2026 and interest coverage in the mid-4x area in 2025
and 2.5x-3.0x in 2026, providing some cushion compared with our
5.5x upgrade threshold and 2.5x coverage threshold to accommodate
potential future acquisitions, shareholder returns, and operating
volatility.

"Our 'B' issuer credit rating reflects Voyager's high leverage pro
forma for the debt financing and financial-sponsor ownership. We
forecast the company's pro forma S&P Global Ratings-adjusted
leverage will be elevated in the low-5x area in 2025. We expect
leverage to improve in 2026, primarily from assumed revenue and
EBITDA growth as the company benefits from stable market share
across its product portfolio, increased penetration in existing
iGaming markets, and operating efficiencies from the integration of
the merger. Our forecast for leverage improvement does not assume
incremental debt from future acquisitions or shareholder returns.

"While our base-case forecast for leverage improvement is aligned
with a positive rating outlook, our view of Voyager's financial
risk incorporates Apollo's majority ownership, board control, and
ability to dictate its strategy and cash flows. Voyager is 100%
owned by funds managed by affiliates of Apollo. This could lead the
company to adopt a more-aggressive financial policy, potentially by
pursuing debt-financed acquisitions, additional investment
spending, or shareholder distributions, which would weaken its
credit measures compared with our base-case assumptions. However,
it is our understanding the controlling owner's current exit plan
is an IPO over the next few years. Given our base-case assumption
for steady operating performance over the next few years, we
believe it is plausible Apollo would allow Voyager to reduce
leverage in line with our base case to increase the attractiveness
of an IPO to public investors. We believe risks to this exit plan
include an unanticipated deterioration in operating performance, an
increased risk of a U.S. recession, or an unsuccessful integration.
If any of these risks materialize, we could revise our outlook to
stable or lower ratings."

While Voyager maintains leading positions across multiple product
categories in the highly competitive gaming equipment and financial
technology segments, the company faces integration risk. Voyager is
the largest land-based slot machine supplier in North America by
units sold and the second largest by installed base. It is also the
top iGaming supplier in North America. The industry benefits from
significant barriers to entry in the gaming equipment industry,
including technological expertise, intellectual property, and
regulatory licenses. Although the space remains highly competitive,
the top three suppliers in North America have consistently
maintained above 70% share of units sold and achieved meaningful
growth in their share of installed base in recent years. Product
and content introductions and innovation are key competitive
advantages in the gaming equipment space because operators demand
popular titles and new technology that resonate with their
customers. Voyager's significant scale allows it to fund capital
investments required to continuously develop and manufacture
hardware, content, and systems to remain competitive.

Furthermore, Voyager is the top casino financial technology
(fintech) provider with a full suite of solutions supporting the
land-based gaming experience, including financial access, loyalty
marketing, and compliance. To retain its leading market position,
the company must continually compete for contract renewals, win
contracts from competitors, or win contracts at new casinos. It
faces competition in this segment from a variety of market
participants, including financial institutions and other providers
of financial solutions for casinos.

Despite Voyager's current strong market position, the company faces
execution risks that could erode market share in the near term. For
example, its customers may opt to broaden supplier diversity by
sourcing machines from competitors or remove machines in Voyager's
portfolio that they worry won't be supported in the future. Voyager
may also face integration challenges from combining the portfolio
and potential different tech bases.

Voyager benefits from a high degree of recurring revenue, providing
good revenue and cash flow visibility. Voyager's revenue base is
supported by its recurring nature, with about 65% of its revenue
recurring for the year ended Dec. 31, 2024. Its gaming operations
segment generates either a fixed fee or a percentage of gross
gaming revenue from its installed base of gaming machines, some of
which are units under multiyear placement contracts. Its fintech
segment also benefits from multiyear service contracts that are
typically three to five years with good retention rates and long
customer relationships. Voyager's systems, software, and other
segment benefits from recurring gaming services, software,
intellectual property, and other revenues with long-term contracts
for its leased games. Its iGaming segment benefits from ongoing
revenue share of coin-in. These recurring revenue streams and
multiyear contracts help mitigate the volatility of gaming machine
sales. Demand for gaming machines can be somewhat unpredictable and
depend in part on new casino openings or expansions each year, new
product introductions, and gaming operators' capital budgets, which
may be constrained during economic downturns or periods of
volatility.

The combination broadens Voyager's overall product and content
diversity by providing it with a greater footprint in the gaming
machine space and allows for cross-sell opportunities. Voyager has
a diverse suite of game titles and genres across its portfolio that
it deploys across multiple adjacent gaming markets, supporting
customer retention by giving operators a variety of titles to
choose. Additionally, the combined portfolio provides opportunities
to cross-sell content and products across legacy IGT Gaming and
Everi cabinets. Voyager's full suite of fintech solutions
complements its games portfolio by offering casino operators
ancillary products and services that will further embed Voyager's
products across the casino floor.

S&P said, "The positive outlook reflects our expectation that we
could raise Voyager's rating if the company successfully integrates
the merger in a manner that drives its S&P Global Ratings-adjusted
leverage to the low-5x area in 2025 and below 5x in 2026 and
interest coverage in the mid-4x area in 2025 and 2.5x-3.0x in 2026,
providing some cushion compared with our 5.5x upgrade threshold and
2.5x coverage threshold to accommodate potential future
acquisitions, shareholder returns, and operating volatility.

"We could revise our outlook to stable if we no longer expect
Voyager to sustain S&P Global Ratings-adjusted leverage below 5.5x
and EBITDA interest coverage above 2.5x. Given our forecast
leverage below our upgrade threshold, we believe this would most
likely result from more aggressive financial policy decisions than
we expect, including leveraging acquisitions or shareholder
returns. Voyager underperforming our base case could exacerbate
this, driven by increased competitive pressures during the
integration period that result in lost market share or a
significant decline in demand for gaming machines due to a
reduction in gaming operators' capital budgets during an economic
downturn. We could lower our rating on Voyager if we expect
leverage to be sustained above 6.5x and EBITDA interest coverage
below 2x.

"We could raise our ratings if we expect Voyager to sustain S&P
Global Ratings-adjusted leverage below 5.5x and EBITDA interest
coverage above 2.5x, incorporating potential operating volatility,
increased investments or acquisitions, and shareholder returns. We
would also need to believe that maintaining S&P Global
Ratings-adjusted leverage below 5.5x is consistent with the
company's financial policy."


WASKOM BROWN: Gets Court OK to Use Cash Collateral
--------------------------------------------------
Waskom, Brown & Associates, LLC got the green light from the U.S.
Bankruptcy Court for the Western District of Louisiana, Alexandria
Division, to use cash collateral.

At the hearing held on April 29, the court granted the Debtor's
motion to use its secured creditor's cash collateral, including
accounts receivable to maintain ongoing business operations.

The Debtor's secured creditors include BOM Bank, which is owed
approximately $212,000 under two loan agreements secured by
business assets; the U.S. Small Business Administration, which
extended a $500,000 Economic Injury Disaster Loan; and the Internal
Revenue Service, which has filed multiple federal tax liens. The
Debtor also has loan agreements with several merchant cash advance
lenders, but it disputes the validity and priority of their claims,
asserting that any interests they have are subordinate to those of
BOM Bank, the SBA, and the IRS.

The Debtor's financial difficulties were exacerbated by the
burdensome repayment terms of the MCAs and a pending sheriff’s
sale prompted by default on the BOM Bank debt. The company entered
bankruptcy to stop the sale and reorganize its operations. On the
petition date, the Debtor had approximately $118,000 in outstanding
receivables and expects stable revenue generation, particularly due
to the ongoing tax season.

BOM Bank is represented by:

   Mark A. Begnaud, Esq.
   McCoy Roberts & Begnaud, LTD.
   P.O. Box 1369
   Natchitoches, LA 71458-1369
   318.352.6495
   mbegnaud@mrbfirm.com

                  About Waskom Brown & Associates

Waskom Brown & Associates, LLC is a full-service accounting and
financial advisory firm based in Natchitoches, Louisiana. The firm
provides tax planning, bookkeeping, estate planning, and business
consulting services, with additional offices in Pineville, Many,
and Winnfield.

Waskom Brown & Associates filed Chapter 11 petition (Bankr. W.D.
La. Case No. 25-80219) on April 15, 2025. In its petition, the
Debtor reported between $1 million and $10 million in both assets
and liabilities.

Judge Stephen D. Wheelis handles the case.

The Debtor is represented by Bradley L. Drell, Esq., at Gold,
Weems, Bruser, Sues & Rundell, A PLC.


WATER ENERGY: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The U.S. Trustee for Region 7 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Water Energy Services, LLC.

                    About Water Energy Services

Water Energy Services, LLC is a San Antonio-based company operating
in the oil and gas extraction industry.

Water Energy Services LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-50539) on March
21, 2025. In its petition, the Debtor reported between $1 million
and $10 million in assets and between $10 million and $50 million
in liabilities.

Judge Michael M. Parker handles the case.

The Debtor is represented by Herbert C Shelton, II, Esq., at
Hayward, PLLC.


WEST DEPTFORD: Moody's Affirms Caa1 Rating on Credit Facilities
---------------------------------------------------------------
Moody's Ratings affirmed West Deptford Energy Holdings, LLC's (WDE
or the Project) senior secured credit facilities at Caa1, and
assigned a Caa1 rating to the senior secured revolver. The outlook
is revised to positive from negative.

RATINGS RATIONALE

The rating affirmation and outlook revision reflects Moody's views
that the project's default risk has declined as a result of sponsor
support measures and improvements in the regional energy market
outlook for unregulated power generators. In that regard, the
rating action recognizes the demonstration of sponsor commitment by
LS Power given its recent ownership consolidation increasing its
stake to 85.5% from about 17% along with aggregate sponsor equity
contributions of roughly $22 million to the project thus far in
2025. Similarly, Moody's expects the sponsor will continue to
support the project throughout the year, particularly given strong
capacity price expectations in the upcoming auctions, bolstered by
FERC's decision's to implement a capacity price collar, as well as
a capacity-constrained energy market outlook in PJM
Interconnection, L.L.C. (PJM: Aa2 stable) that supports WDE's value
over the medium term.

The credit profile is constrained by the plant's recent operational
challenges. The plant is currently in outage that management
estimates could persist until the end of June, which follows an
extended outage in the second half of 2024. Moody's further
understands that the costs of the most recent outage should be
fairly manageable. Despite these events, WDE will continue to
receive capacity payments as scheduled when capacity auction prices
in PJM substantially increase this June, a credit positive. That
said, WDE could be subject to capacity payment penalties if PJM
declares an emergency demand period while the plant is not
operating.

WDE's liquidity profile remains tight, though it is expected to
improve in the second half of the year after higher capacity prices
take effect. In the interim, Moody's understands that WDE will rely
upon incremental equity contributions from the sponsor. Moody's
expects debt service coverage ratios will remain below 1x based on
Moody's calculations during 2025, and that sponsor support will be
needed to satisfy the 1.1x debt service coverage financial covenant
in its loan documents. Such support may occur through an equity
cure which would be incremental to the capital contributions
provided by the sponsor.

WDE also faces refinancing risk. Its $55 million revolver is fully
drawn and matures in December 2025, while its $400 million term
loan matures in August 2026. Moody's rating action incorporates a
view that recent actions taken by the sponsor will continue to help
address and facilitate these upcoming refinancings.

RATING OUTLOOK

The positive outlook is based on Moody's views that the sponsor
group will continue to provide WDE ongoing sponsor support in the
near term to meet the capital needs associated with the current
outage, manage its liquidity profile as well as to address its
upcoming debt maturities and that the project's cash flow outlook
will improve in the latter half of 2025 due to higher capacity
prices.

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

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

-- The rating could be upgraded if WDE can improve its liquidity
profile and maintain  solid operational performance such that it
can meet its financial covenants without sponsor support.

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

-- Given the positive outlook, the rating is unlikely to be
downgraded, but one could occur if the project sponsor's
willingness or ability to support this investment wanes leading to
further liquidity deterioration. The project could also be
downgraded if it experiences a covenant default.

PROFILE

The West Deptford power plant is a 2014-vintage, 744MW combined
cycle natural gas turbine (CCGT) with Siemens F-Class Series
installed turbines that produced a capacity factor of 20% with 79%
availability in 2024. It is located in West Deptford Township, NJ,
directly across the Delaware River from Philadelphia International
Airport. The plant connects to the Atlantic City Electric
transmission system via a 3.5-mile line to the ACE Mickleton 230 kV
Substation.

The project's lead sponsor and operator is LS Power, an established
player in the power markets and well-known sponsor with multiple
rated power projects. LS Power developed, sited and built the West
Deptford plant, which started operating in November 2014. The
plant's current ownership structure includes LS Power (85.52%) and
Ullico (14.48%).

LIST OF AFFECTED RATINGS

Issuer: West Deptford Energy Holdings, LLC

Affirmations:

Senior Secured Bank Credit Facility, Affirmed Caa1

Assignments:

Senior Secured Revolving Credit Facility, Assigned Caa1

Outlook Actions:

Outlook, Changed To Positive From Negative

METHODOLOGY

The principal methodology used in these ratings was Power
Generation Projects published in June 2023.


WYNDSTON MILLWORK: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Wyndston Millwork, LLC
          d/b/a Acadian Architectural Woodwork
        250 East Willow Street
        Ponchatoula, LA 70454-2451

Business Description: Wyndston Millwork, LLC, doing business as
                      Acadian Architectural Woodwork, specializes
                      in custom architectural millwork and
                      woodworking services.  Based in Ponchatoula,
                      Louisiana, the Company offers a range of
                      products including doors, windows,
                      mouldings, columns, corbels, furniture,
                      hardware, and pre-hung interior and exterior
                      door units.

Chapter 11 Petition Date: April 28, 2025

Court: United States Bankruptcy Court
       Middle District of Louisiana

Case No.: 25-10353

Judge: Hon. Michael A Crawford

Debtor's Counsel: Ryan J. Richmond, Esq.
                  STERNBERG, NACCARI & WHITE, LLC
                  450 Laurel Street
                  Suite 1450
                  Baton Rouge, LA 70801
                  Tel: (225) 412-3667
                  Fax: (225) 286-3046
                  Email: ryan@snw.law

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stephen Joseph French 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/LIFUMWQ/Wyndston_Millwork_LLC__lambke-25-10353__0001.0.pdf?mcid=tGE4TAMA


YANKE CONSTRUCTION: Gets Final OK to Use Cash Collateral
--------------------------------------------------------
Yanke Construction, Inc. received final approval from the U.S.
Bankruptcy Court for the Eastern District of Michigan, Southern
Division, to use cash collateral.

The final order authorized the company to utilize the cash
collateral of its secured creditors in accordance with its latest
budget until further order by the bankruptcy court.

SQ Advance, LLC and other secured creditors were granted
replacement liens on post-petition assets of the company similar to
their pre-bankruptcy collateral. These replacement liens will have
the same validity and priority as the pre-bankruptcy liens held by
the secured creditors.

To resolve SQ Advance's objection to the company's use of the cash
collateral, the company was ordered to hold 12% of gross receipts
it collected on or after the petition date in a separate,
designated account until it has a total of $41,114.24 in such
account. The court will determine the treatment and disposition of
these funds in connection with the adversary proceeding to be filed
by SQ Advance.

Yanke Construction was also ordered to segregate in a
debtor-in-possession account $7,500 per month earmarked for the
payment of professional fees.

SQ Advance is represented by:

   Shanna M. Kaminski, Esq.
   Kaminski Law, PLLC
   P.O. Box 247  
   Grass Lake, MI 49240
   (248) 462-7111
   skaminski@kaminskilawpllc.com

                  About Yanke Construction Inc.

Yanke Construction, Inc. operates as a landscaping and construction
company. It specializes in constructing retaining walls for
residential and commercial clients across the Detroit Metro area
in
Michigan.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-43176-mar) on March
28, 2025. In the petition signed by Darren Yanke, president, the
Debtor disclosed up to $500,000 in assets and up to $10 million in
liabilities.

Judge Mark A. Randon oversees the case.

John J. Stockdale, Jr., at Schafer and Weiner, PLLC, represents the
Debtor as legal counsel.


YELLOW CANOE: Gets Final OK to Use Cash Collateral
--------------------------------------------------
Yellow Canoe, LLC received final approval from the U.S. Bankruptcy
Court for the Eastern District of North Carolina, Raleigh Division,
to use cash collateral.

The final order authorized the company to use cash collateral to
pay the expenses set forth in its latest budget, which shows
$101,175 in total expenses.

The company's operations generate cash proceeds, which constitute
cash collateral of the U.S. Small Business Administration, CT
Corporation System, and North Mill Credit Trust.

The secured creditors' liens on the collateral securing their
indebtedness extend to Yellow Canoe's post-petition assets to the
extent and amount that they are secured as of the petition date,
according to the final order.

The final order will remain in full force and effect until the
entry of a subsequent order terminating the final order for cause
or upon filing of a notice of default, whichever comes first.

Events of default include Yellow Canoe's failure to comply with the
final order or failure to file a Chapter 11 plan in accordance with
orders of the bankruptcy court.

                        About Yellow Canoe

Yellow Canoe, LLC operates multiple fast-casual restaurant chain
franchises. It operates two Schlotzsky's franchise stores and one
Cinnabon franchise store. Yellow Canoe's restaurants are located in
Apex, N.C. and Fayetteville, N.C.

Yellow Canoe filed Chapter 11 petition (Bankr. E.D. N.C. Case No.
25-00618) on February 21, 2025, listing up to $100,000 in assets
and up to $10 million in liabilities. Paul Sabattus, managing
member of Yellow Canoe, signed the petition.

Judge David M. Warren oversees the case.

Lydia C. Stoney, Esq., at Hendren, Redwine & Malone, PLLC,
represents the Debtor as legal counsel.


YELLOW CORP: Includes Non-Joint & Several Unsecured Claims Pay
--------------------------------------------------------------
Yellow Corporation and affiliates and the Official Committee of
Unsecured Creditors submitted a Third Amended Joint Chapter 11 Plan
dated March 28, 2025.

Except for the Claims addressed in Article II hereof, all Claims
and Interests are classified in the Classes set forth in this
Article III for all purposes, including voting, Confirmation, and
distributions pursuant to the Plan and in accordance with section
1122 and 1123(a)(1) of the Bankruptcy Code.

Class 5A consists of all Joint and Several General Unsecured
Claims. Except to the extent that a Holder of a Joint and Several
General Unsecured Claim agrees to less favorable treatment with the
Debtors and the Committee or the Liquidating Trustee, as
applicable, in exchange for such Joint and Several General
Unsecured Claim, each Holder of an Allowed Joint and Several
General Unsecured Claim shall receive the Series A-1 Liquidating
Trust Interests and as a Beneficiary shall receive, on the
applicable Distribution Date, the Series A-1 Distribution; provided
an Electing J&S Holder shall receive the Series A-2 Liquidating
Trust Interests and as a Beneficiary shall receive, on the
applicable Distribution Date, the Series A-2 Distribution; provided
further that Withdrawal Liability Claims asserted by Holders other
than the Electing J&S Holders may be reduced and/or subordinated to
all other General Unsecured Claims in an amount as determined by an
order of the Bankruptcy Court or as otherwise agreed to by the
Liquidating Trust. Class 5A is Impaired.

Class 5B consists of all Non-Joint and Several General Unsecured
Claims. Except to the extent that a Holder of a Non-Joint and
Several General Unsecured Claim agrees to less favorable treatment
with the Debtors and the Committee or the Liquidating Trustee, as
applicable, in exchange for such Non-Joint and Several General
Unsecured Claim, each Holder of an Allowed Non-Joint and Several
General Unsecured Claim shall receive the Series B Liquidating
Trust Interests and as a Beneficiary shall receive, on the
applicable Distribution Date, the Series B Distribution. Class 5B
is Impaired under the Plan. Holders of Non-Joint and Several
General Unsecured Claims are entitled to vote to accept or reject
the Plan.

Class 6 consists of all Intercompany Claims. Allowed Intercompany
Claims, to the extent not assumed pursuant to the terms of the Sale
Transaction Documents, shall, at the election of the Debtors and
the Committee or the Liquidating Trustee, as applicable, be (a) set
off, settled, distributed, contributed, cancelled, or released, or
(b) otherwise addressed at the option of the Liquidating Trust
without any distribution; provided, however, that such election
shall not adversely affect the treatment provided to Classes 4A,
4B, 5A and 5B.

Class 7 consists of all Intercompany Interests. Allowed
Intercompany Interests shall, at the election of the Debtors and
the Committee or the Liquidating Trustee, as applicable, be (a) set
off, settled, addressed, distributed, contributed, merged,
cancelled, or released, or (b) otherwise addressed at the option of
the Liquidating Trustee without any distribution; provided,
however, that such election shall not adversely affect the
treatment provided to Classes 4A, 4B, 5A, and 55.

Class 8 consists of all Interests in Yellow Corporation. Interests
in Yellow Corporation shall be canceled, released and extinguished
as of the Effective Date, and will be of no further force or
effect, and Holders of Interests in Yellow Corporation will not
receive any distribution on account of such Interests in Yellow
Corporation.

pecifically included within the Bankruptcy Court's approval of
compromises and settlements of Claims and controversies pursuant to
Bankruptcy Rule 9019 shall be the Bankruptcy Court's approval of
the settlement with the Electing J&S Holders to resolve disputes
regarding and objections to the Claims of the Electing J&S Holders
pursuant to the terms of the Plan, including the agreement of
Electing J&S Holders to allocate their Pro Rata shares of
Settlement Consideration to Holders of Non-Joint and Several
General Unsecured Claims.

On the Effective Date, (i) the Debtors and the Debtors' Estates
shall be deemed to release all claims and Causes of Action against
the Electing J&S Holders, (ii) any pending disputes regarding or
objections to the Claims of the Electing J&S Holders as set forth
on the Electing J&S Holder Schedule shall be dismissed without
further action by the Bankruptcy Court and (iii) such Claims shall
be Allowed in the respective amounts set forth on the Electing J&S
Holder Schedule.

The Distributable Proceeds shall be used to fund the distributions
to Holders of Allowed Claims and Liquidating Trust Interests in
accordance with the treatment of such Claims provided in the Plan,
including Claims underlying Liquidating Trust Interests subject to
the terms of the Plan and the Liquidating Trust Agreement.

A full-text copy of the Disclosure Statement dated March 28, 2025,
is available at https://urlcurt.com/u?l=m6U2VT from Epiq Bankruptcy
Solutions, claims agent.

Co-Counsel for the Debtors:          

         Patrick J. Nash Jr., P.C.
         David Seligman, P.C.
         Whitney Fogelberg, Esq.
         KIRKLAND & ELLIS LLP
         KIRKLAND & ELLIS INTERNATIONAL LLP
         300 North LaSalle
         Chicago, Illinois 60654
         Tel: (312) 862-2000
         Fax: (312) 862-2200
         E-mail: patrick.nash@kirkland.com
                 david.seligman@kirkland.com    
                 whitney.fogelberg@kirkland.com

                    - and -

        Allyson B. Smith, Esq.
        KIRKLAND & ELLIS LLP
        KIRKLAND & ELLIS INTERNATIONAL LLP
        601 Lexington Avenue
        New York, New York 10022
        Tel: (212) 446-4800
        Fax: (212) 446-4900
        E-mail: allyson.smith@kirkland.com

        Laura Davis Jones, Esq.
        Timothy P. Cairns, Esq.
        Peter J. Keane, Esq.
        Edward Corma, Esq.
        PACHULSLKI STANG ZIEHL JONES LLP
        919 North Market Street, 17th Floor
        P.O. Box 8705
        Wilmington, Delaware 19801
        Tel: (302) 652-4100
        Fax: (302) 652-4400
        E-mail: ljones@pszjlaw.com
                tcairns@pszjlaw.com
                pkeane@pszjlaw.com
                ecorma@pszjlaw.com

Co-Counsel for the Official Committee of Unsecured Creditors:

     Jennifer R. Hoover, Esq.
     Kevin M. Capuzzi, Esq.
     John C. Gentile, Esq.
     BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
     1313 North Market Street, Suite 1201
     Wilmington, DE 19801
     Telephone: (302) 442-7010
     Facsimile: (302) 442-7012
     E-mail: jhoover@beneschlaw.com
             kcapuzzi@beneschlaw.com
             jgentile@beneschlaw.com

     Philip C. Dublin, Esq.
     Meredith A. Lahaie, Esq.
     Kevin Zuzolo, Esq.
     AKIN GUMP STRAUSS HAUER & FELD LLP
     One Bryant Park
     New York, NY 10036
     Telephone: (212) 872-1000
     Facsimile: (212) 872-1002
     Email: pdublin@akingump.com
            mlahaie@akingump.com
            kzuzolo@akingump.com

                     About Yellow Corporation

Yellow Corporation -- http://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
Corporation 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 is the claims and noticing agent.

Milbank LLP serves as counsel to certain investment funds and
accounts managed by affiliates of Apollo Capital Management, L.P.
while White & Case, LLP and Arnold & Porter Kaye Scholer, LLP serve
as counsels to Beal Bank USA and the U.S. Department of the
Treasury, respectively.

On Aug. 16, 2023, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors in the Chapter 11 cases.
The committee tapped Akin Gump Strauss Hauer & Feld, LLP and
Benesch, Friedlander, Coplan & Aronoff, LLP as counsels; Miller
Buckfire as investment banker; and Huron Consulting Services, LLC,
as financial advisor.


YOHMAN LANDSCAPING: Gets Interim OK to Use Cash Collateral
----------------------------------------------------------
Yohman Landscaping & Concrete, LLC received interim approval from
the U.S. Bankruptcy Court for the Western District of Pennsylvania
to use cash collateral.

The interim order penned by Judge John Melaragno authorized the
Debtor to operate within 10% of its cash collateral budget until
further order.

As protection, the pre-bankruptcy liens of any creditor with an
interest in the cash collateral will continue post-bankruptcy
filing.

A final hearing will be held on May 29.

The Debtor has identified at least nine Uniform Commercial Code
(UCC) Financing Statements and one UCC Assignment Statement filed
with the State of Pennsylvania. These filings suggest potential
claims by secured creditors on the Debtor's assets, but many fail
to list the actual creditors, making it impossible for the Debtor
to determine the order of priority or even confirm which creditors
are entitled to the cash collateral.

Forward Financing, BFG, Funding Metrics, Lendronline, Newbury
Capital, Prosperum Capital Partners, and Bankers Healthcare Group
(on behalf of BHG Grantor Trust 2023-A) may assert interests in the
collateral.

                About Yohman Landscaping & Concrete

Yohman Landscaping & Concrete, LLC filed Chapter 11 petition
(Bankr. W.D. Pa. Case No. 25-20975) on April 16, 2025, listing up
to $500,000 in both assets and liabilities. Paul M. Yohman II, a
member of Yohman Landscaping & Concrete, signed the petition.

Christopher M. Frye, Esq., at Steidl & Steinberg, P.C., represents
the Debtor as legal counsel.


ZIGI USA: Unsecureds Will Get 30% to 45% of Claims in Plan
----------------------------------------------------------
Zigi USA LLC filed with the U.S. Bankruptcy Court for the Southern
District of New York a Combined Disclosure Statement and Chapter 11
Plan of Reorganization dated March 28, 2025.

The Debtor was formed as a Delaware limited liability company in
2008 for the primary purpose of the wholesale of women's footwear
to major retailers, including Burlington.

The Debtor experienced economic difficulties—diminishing revenues
almost immediately as a result of the COVID-19 pandemic, resulting
in the shutdown of a majority of retail locations for several
months, including those of some of the Debtor's wholesale
customers. As a result of these diminishing revenues the Debtor was
required to seek financing from additional sources, including CIT,
vendors, and the SBA.

In the face of these mounting obligations, the Debtor determined
that commencing this Chapter 11 Case was essential to preserve its
assets and going concern value for the benefit of creditors,
vendors, landlords, and stakeholders.

The filing of the Debtor's bankruptcy petition on the Petition Date
triggered the immediate imposition of the automatic stay under
section 362 of the Bankruptcy Code, which, with limited exceptions,
enjoins all collection efforts and actions by creditors, the
enforcement of liens against property of the Debtor and both the
commencement and the continuation of prepetition litigation against
the Debtor. With certain limited exceptions and/or modifications as
permitted by order of the Bankruptcy Court, the automatic stay will
remain in effect from the Petition Date until the Effective Date.

Class 4 consists of Unsecured Claims. The allowed unsecured claims
total $10,682,175.77. This Class will receive a distribution of 30%
to 45% of their allowed claims. Each Holder of an Unsecured Claim
shall receive a beneficial interest in the GUC Trust (each a "GUC
Trust Beneficiary," and collectively, the "GUC Trust
Beneficiaries"), but only in the amount of such Holder's Allowed
Unsecured Claim. On the date of entry of the Confirmation Order,
the Debtor shall deliver to the GUC Trustee, the GUC Trust Plan
Documents, free and clear of all Liens, Claims, Interests and
encumbrances, as follows:

     * The Debtor Note signed by the Debtor. Monthly payments by
the Debtor to the GUC Trust shall commence on the first business
day of the month following the Effective Date of the Plan and
thereafter pursuant to the Debtor Note;

     * The Litigation Claims Assignment and Transfer Agreement
executed by the Debtor, which shall be effective and binding upon
the Debtor immediately upon entry of the Confirmation Order; and

     * The GUC Trust Agreement, signed by the Debtor, which shall
be effective and binding upon the Debtor immediately upon entry of
the Confirmation Order.

On the date of entry of the Confirmation Order, Mr. Segev Davidson
shall pay and deliver to Archer & Greiner, P.C., free and clear of
all Liens, Claims, Interests and encumbrances, the GUC Trust
Upfront Payment in the sum of $500,000, which sum Archer & Greiner
will hold in a noninterest bearing escrow account until the
Effective Date. On the Effective Date, Archer & Greiner shall pay
the escrowed sum of $500,000 ("Escrowed Sum") to the GUC Trust. If
for any reason the Plan does not become effective on the Effective
Date or thereafter, or should anyone file an objection to the
release of the Escrowed Sum to the GUC Trust and serve same upon
Archer & Greiner, Archer & Greiner shall hold the Escrowed Sum and
file a motion with the Bankruptcy Court for further instructions as
to the disposition of the Escrowed Sum.

In exchange for funding the GUC Trust Upfront Payment and the
Professional Fee Escrow Amount, the Interest Holders shall keep
their Interests.

Payments and Distributions to be made under the Plan, shall be made
by the Debtor, the Reorganized Debtor, GUC Trustee and/or the Zigi
Principals as provided in the Plan. The designated funds shall be
utilized to satisfy payments due consistent with the terms of the
Plan.

A full-text copy of the Combined Disclosure Statement and Plan
dated March 28, 2025 is available at https://urlcurt.com/u?l=uChS4n
from PacerMonitor.com at no charge.

Zigi USA, LLC is represented by:

     Leo Jacobs, Esq.
     Jacobs P.C.
     595 Madison Avenue, Floor 39
     New York, NY 10022
     Tel: (718) 772-8704/(212) 229-0476
     Email: leo@jacobspc.com     

                          About Zigi USA

Zigi USA, LLC, a company that specializes in women's footwear
wholesale in New York, N.Y., filed Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 23-12102) on Dec. 31, 2023, with $10 million to
$50 million in both assets and liabilities.

Judge David S. Jones oversees the case.

The Debtor tapped Jacobs PC as bankruptcy counsel; Jeffer Mangels
Butler & Mitchell, LLP as special counsel; and FIA Capital
Partners, LLC, as restructuring advisor.  David Goldwasser of FIA
serves as the Debtor's chief restructuring officer.


[] Giovanni Angles to Join Sequor Law's Arbitration Practice
------------------------------------------------------------
Sequor Law, a leading international disputes firm, proudly
announced the addition of Giovanni Angles to its expanding
International Arbitration practice. Mr. Angles' arrival marks
another milestone in the firm's dynamic growth and further
strengthens its deep bench of cross-border dispute resolution
professionals. The firm's team includes the highest number of
Florida Bar board-certified attorneys in one firm in International
Litigation and Arbitration in the state.

A seasoned international arbitration practitioner, Mr. Angles has
represented sovereigns, multinational corporations, and
high-net-worth individuals in complex arbitrations across multiple
forums, including ICSID, ICC, ICDR, and UNCITRAL. Fluent in English
and Spanish, he brings a strategic and multicultural lens to every
matter, with a focus on business torts, investor-state claims,
treaty interpretation, and multijurisdictional enforcement of
awards.

In addition to his legal acumen, Mr. Angles is recognized globally
for his leadership in the field. He is a Past President of the
International Arbitration Commission at AIJA (International
Association of Young Lawyers) and sits on the Board of Directors of
the Miami International Arbitration Society (MIAS), reflecting both
his credibility and commitment to advancing the profession.

"Giovanni's arrival is both a reflection of where we are and where
we're headed," said Edward H. Davis Jr., Founding Shareholder of
Sequor Law. "His depth of experience and leadership in the
international arbitration space amplifies our capabilities and
reinforces our position as a forward-thinking firm leaning into its
growing international arbitration practice."

Mr. Angles will take a lead role in driving Sequor Law's
International Arbitration practice, further strengthening the
firm's global footprint in cross-border matters and strategic
dispute resolution. His joining comes during a period of sustained
growth for the firm, which is widely regarded for its innovative
approach and trailblazing work in asset recovery, financial fraud,
cross-border insolvency, multijurisdictional disputes, and
international litigation and arbitration.

Headquartered in Miami and with an office in Washington, D.C.,
Sequor Law -- http://www.sequorlaw.com-- is an international law
firm focusing on representing victims of financial fraud, including
sovereign governments and state-owned enterprises, public and
non-public companies, insolvency practitioners, and all manner of
clients in the areas of asset recovery, financial fraud,
cross-border insolvency, and international litigation and
arbitration.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
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Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
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Peter A. Chapman, Editors.

Copyright 2025.  All rights reserved.  ISSN: 1520-9474.

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