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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

              Friday, June 20, 2025, Vol. 29, No. 170

                            Headlines

1 SANDPIPER: Bankruptcy Administrator Unable to Appoint Committee
23ANDME HOLDING: Judge Denies Texas Bid to Stop Data Sale
250 WYNAH: Seeks Cash Collateral Access
58 OCEAN AVENUE: Amends Unsecureds & Secured Claims Pay Details
842 REDDING: Voluntary Chapter 11 Case Summary

8434 ROCHESTER: Updates General Unsecured Claims Pay; Amends Plan
A.E. SCHLUETER: U.S. Trustee Unable to Appoint Committee
AGUA VIVA: Case Summary & 20 Largest Unsecured Creditors
ALTICE FRANCE: Chapter 15 Case Summary
AMC NETWORKS: Moody's Lowers CFR to B3 & Sr. Secured Loans to B2

AMSPEC PARENT: S&P Rates New Senior Secured Debt Facility 'B'
ARCHER ACQUISITION: Cliffwater Marks $619,000 Loan at 72% Off
ARCTICOM GROUP: Cliffwater Corporate Marks $2.1MM Loan at 71% Off
ARTIFICIAL INTELLIGENCE: Inks 2-Year $30-Bil. Equity Deal With GHS
ASCEND PERFORMANCE: Comm. Taps AlixPartners as Financial Advisor

AT HOME GROUP: S&P Downgrades ICR to 'D' on Bankruptcy Filing
AT HOME GROUP: S&P Lowers ICR to 'SD' on Missed Interest Payment
ATARA BIOTHERAPEUTICS: All Proposals OK'd at Annual Meeting
ATIS ACQUISITION: Cliffwater Corporate Marks $3.6MM Loan at 95% Off
AVSC HOLDING: Cliffwater Corporate Marks $1.9MM Loan at 61% Off

AWP GROUP: Cliffwater Corporate Marks $1.3MM Loan at 80% Off
AWP GROUP: Cliffwater Corporate Marks $26.4MM Loan at 65% Off
AWP GROUP: Cliffwater Corporate Marks $4.7MM Loan at 66% Off
AWP GROUP: Cliffwater Corporate Marks $9.5MM Loan at 80% Off
AWS HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors

BEACON MOBILITY: Moody's Rates New $640MM Sr. Secured Notes 'B1'
BEACON MOBILITY: S&P Rates New $550MM Senior Secured Notes 'B'
BEELINE HOLDINGS: Sells 298K Shares for $250K Under ELOC Deal
BIG STORM REAL ESTATE: Seeks Chapter 11 Bankruptcy in Florida
BINGO GROUP: Cliffwater Corporate Marks $585,000 Loan at 98% Off

BIO-KEY INTERNATIONAL: Streeterville Capital Holds 3.6% Stake
BLUE DUCK: Files Emergency Bid to Use Cash Collateral
CARAWAY TEA: Gets Court OK to Use Cash Collateral
CARDS ACQUISITION: Cliffwater Corporate Marks $5.5M Loan at 89% Off
CARDS ACQUISITION: Cliffwater Marks $490,000 Loan at 75% Off

CASA GARCIA: Unsecureds Will Get 100% of Claims over 60 Months
CIBUS INC: Inks Agreements for Public Offering of 15.7M Shares
CIBUS INC: Rory Riggs Holds 33.02% of Class A Shares as of Sept. 18
CIMG INC: Closes $1.07M Sale of Common Shares to Non-U.S. Investors
CIMG INC: Xiangrong Dai Holds 8.25% Equity Stake

COBALT SERVICE: Cliffwater Corporate Marks $26.4MM Loan at 78% Off
COMMUNITY MANAGEMENT: Cliffwater Marks $1.1MM Loan at 74% Off
CPI HOLDCO B: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable
CQENS TECHNOLOGIES: Signs $2.78M Montrade Deal for Tobacco Module
CRCI LONGHORN: Cliffwater Corporate Marks $17.5MM Loan at 28% Off

DA BLOCKER: Cliffwater Corporate Marks $2.4 Million Loan at 71% Off
DB BOONEVILLE: Seeks to Hire Hogan and Hansen PC as Accountant
DB BOONEVILLE: Taps Marks Law Firm as Reorganization Counsel
DENALI BUYERCO: Cliffwater Corporate Marks $15MM Loan at 80% Off
DIONE BIDCO: Cliffwater Corporate Marks $11.7-Mil. Loan at 24% Off

DISA HOLDINGS: Cliffwater Corporate Marks $1.1MM Loan at 81% Off
DISCOVER QUARTZ: Seeks Subchapter V Bankruptcy in Florida
DISCOVER QUARTZ: To Sell Trailer to Sansby for $2,300
DOG ROBBER: Gets Interim OK to Use Cash Collateral
DOLCHE TRUCKLOAD: Seeks Chapter 11 Bankruptcy in Illinois

DOVE CHARTER: S&P Assigns 'BB+' ICR, Outlook Stable
DOWNTOWN UTICA: Seeks Chapter 11 Bankruptcy in New York
DRAKSIN PROPERTIES: Unsecureds to Get 0.05 Cents on Dollar in Plan
DYNASTY SONG: Voluntary Chapter 11 Case Summary
DYNASTY TANG: Voluntary Chapter 11 Case Summary

EAZY-PZ LLC: Case Summary & 13 Unsecured Creditors
EMB PURCHASER: Cliffwater Virtually Writes Off $822,000 Loan
ESQUIRE DEPOSITION: Cliffwater Marks $1.4-Mil. Loan at 85% Off
FELTRIM BALMORAL: Seeks to Hire Underwood Murray P.A. as Counsel
FFP HOLDINGS: S&P Lowers ICR to 'CCC-' on Elevated Default Risk

FRANCIS FUNERAL: Case Summary & 13 Unsecured Creditors
FRANCO HAULING: Unsecureds to Get $965 per Month for 60 Months
GALILEO PARENT: Cliffwater Corporate Marks $5.4MM Loan at 30% Off
GIL AND RIVERA: Bankr. Administrator Unable to Appoint Committee
GILLETTE ENTERPRISES: Hires Johnson Pope as Bankruptcy Counsel

GLOBAL VALUES: Unsecureds to Get Share of Income for 5 Years
GUMTREE INDUSTRIAL: Cliffwater Marks $8.1MM 1L Loan at 38% Off
HEART ESTATES: To Sell Zanola Drive Property to Galvan & Estudillo
HELIUS MEDICAL: CVI, Heights Capital Hold 5.8% of Class A Shares
HELIUS MEDICAL: FirstFire Global Holds 5.7% Equity Stake

HELIUS MEDICAL: Leonite Fund Holds 5.2% Equity Stake
HIGHER GROUND EDUCATION: Down to 7 Schools, Has Deal With Investor
HIGHER GROUND: Case Summary & 30 Largest Unsecured Creditors
HIGHLANDS GROUP: Somerset Property Sale to Jed and Amy Karalfa OK'd
HILLER COMPANIES: Cliffwater Corporate Marks $2.5MM Loan at 73% Off

HOOTERS OF AMERICA: Creditor Files Unpaid Royalties Lawsuit
HSI HALO: Cliffwater Corporate Marks $2.1MM Loan at 83% Off
ICIMS INC: Cliffwater Corporate Marks $1.7 Million Loan at 89% Off
IG INVESTMENT: Cliffwater Corporate Marks $6.1MM Loan at 97% Off
INOVEX INFORMATION: Cliffwater Corporate Marks $3MM Loan at 56% Off

INSTITUTO DE EDUCACION: Seeks to Tap Jose O. Ayala as Accountant
IRIS BUYER: Cliffwater Corporate Virtually Writes Off $1-Mil. Loan
IRIS HOLDING: S&P Upgrades ICR to 'B-' on Improved Credit Metrics
J&J VENTURES: S&P Alters Outlook to Stable, Affirms 'B' ICR
J.C.C.M. PROPERTIES: U.S. Trustee Unable to Appoint Committee

J2KE INC: Gets Interim OK to Use Cash Collateral
JEFRYN PARK REALTY: Voluntary Chapter 11 Case Summary
JEFRYN PARK: Voluntary Chapter 11 Case Summary
JILL'S OFFICE: Seeks Cash Collateral Access Until Sept. 30
KELSO INDUSTRIES: Cliffwater Corporate Marks $3.2MM Loan at 55% Off

KENG ACQUISITION: Cliffwater Corporate Marks $9MM Loan at 39% Off
KEYSTONE PARTNERS: Cliffwater Marks $613,000 Loan at 62% Off
KLE EQUIPMENT: Seeks to Sell Vehicles and Trailers
KOLSTEIN MUSIC: Files Emergency Bid to Use Cash Collateral
LAV GEAR: Cliffwater Corporate Marks $14.7 Million Loan at 14% Off

LAV GEAR: Cliffwater Corporate Marks $5.2MM 1L Loan at 14% Off
LAV GEAR: Cliffwater Corporate Marks $6.8 Million Loan at 14% Off
LAV GEAR: Cliffwater Corporate Marks $743,000 1L Loan at 14% Off
LI-CYCLE AMERICAS: Chapter 15 Case Summary
LIFE TIME: S&P Upgrades LT ICR to 'BB-' on Strong Performance

LONESTAR FIBERGLASS: Seeks to Hire Lucove Say & Co. as Accountant
MACADAMIA BEAUTY: Hires Driver Stephenson as Substitute Counsel
MAGENS POINT: Case Summary & Nine Unsecured Creditors
MANAGEMENT CONSULTING: Cliffwater Marks $1.4MM Loan at 87% Off
MANAGEMENT CONSULTING: Cliffwater Marks $4 Million Loan at 88% Off

MANE SOURCE: Unsecured Creditors to Split $91,500 over 6 Years
MARKON LLC: Cliffwater Corporate Marks $2.5 Million Loan at 54% Off
MARMIC FIRE: Cliffwater Corporate Marks $7.2MM Loan at 74% Off
MAXEON SOLAR: Dr. Teo Tong Kooi Joins Board
MY SIZE: Cuts Option Exercise Price for Officers, Directors

NOVA LIFESTYLE: All Proposals Approved at 2025 Shareholder Meeting
NUVEI CORP: S&P Assigns 'B+' ICR, Outlook Negative
ODS INC: Seeks Chapter 11 Bankruptcy in New Jersey
ODYSSEY MARINE: Forms JV, Converts Debt to Increase Oceanica Stake
ODYSSEY MARINE: Three Proposals OK'd at 2025 Annual Meeting

ONDAS HOLDINGS: Charles & Potomac Holds 4.95% Equity Stake
ONYX-FIRE PROTECTION: Cliffwater Marks $15.7MM 1L Loan at 31% Off
ONYX-FIRE PROTECTION: Cliffwater Marks $3.1MM Loan at 83% Off
OPEN THROTTLE: Seeks to Hire Erik Johanson PLLC as Attorney
OPEN THROTTLE: Taps Liquor Loan Management as License Broker

OPTINOSE INC: FMR LLC Holds 1.4% Equity Stake
ORGANON & CO: S&P Affirms 'BB' ICR on Dividend Cut, Outlook Neg.
ORION GROUP: Cliffwater Corporate Marks $21.6MM Loan at 25% Off
ORION GROUP: Cliffwater Corporate Marks $4.3MM Loan at 63% Off
ORION GROUP: Cliffwater Corporate Virtually Writes Off $23M Loan

OSCAR ACQUISITIONCO: Moody's Cuts CFR to B3 & Alters Outlook to Neg
OUTFRONT MEDIA: Mark Carleton Elected to Board and Audit Committee
P3 HEALTH: All Four Proposals OK'd at 2025 Annual Meeting
PAGE AVE: Seeks Chapter 11 Bankruptcy in New York
PARAMOUNT DRUG: Unsecured Creditors Will Get 10% of Claims in Plan

PAS PARENT: Cliffwater Corporate Marks $374,000 Loan at 44% Off
PAS PARENT: Cliffwater Corporate Marks $7.1-Mil. Loan at 59% Off
PAVION CORP: Cliffwater Corporate Marks $3.1MM Loan at 14% Off
POWIN LLC: Gets Interim OK to Use Cash Collateral
PREDICTIVE ONCOLOGY: Updates ATM Offering Limit

PROOFPOINT INC: Moody's Cuts CFR to B3 & Alters Outlook to Stable
PROPIO LS: Cliffwater Corporate Virtually Writes Off $1.9MM Loan
PROVIDENTIAL LENDING: Court OKs Deal to Use Cash Collateral
PURDUE PHARMA: $7.4B Opioid Bankruptcy Deal Moves Toward Vote
QUEST IDENTITY: Moody's Alters Outlook on 'Caa2' CFR to Stable

REMAX MARINE: Seeks to Hire BransonLaw PLLC as Bankruptcy Counsel
REVIVA PHARMACEUTICALS: Baker Tilly Replaces Moss Adams as Auditor
RICHFIELD NURSING: Seeks $1MM DIP Loan From Endurance Capital
ROCHESTER DIOCESE: Court Approves $71MM Insurance Settlement
ROCHESTER DIOCESE: Court Quashes Jeff Anderson Subpoenas

SAFE & GREEN: Olenox Gets $2M Line of Credit From Prosperity Bank
SAINT ELIZABETH UNIVERSITY: S&P Lowers 2016 Rev. Bond Rating 'BB-'
SALON SUITES: Seeks Chapter 11 Bankruptcy in New York
SANCTUARYSPA INC: Seeks Subchapter V Bankruptcy in California
SANTA PAULA HAY: Hires Bean Hunt Harris & Company as Accountant

SANTA PAULA HAY: Seeks to Hire Haberbush LLP as Legal Counsel
SEAHAWK BIDCO: Cliffwater Corporate Marks $2.4MM Loan at 50% Off
SEAHAWK BIDCO: Cliffwater Corporate Marks $3.6MM Loan at 83% Off
SECRET BIDCO: Cliffwater Corporate Marks $1.4MM Loan at 50% Off
SHARPLINK GAMING: Jane Street Entities Hold 8.3% Stake

SHIELDCOAT TECHNOLOGIES: Unsecureds Will Get 22.48% over 5 Years
SILICON VALLEY: Consolidated Class Action Dismissal Bids Survive
SILVERROCK DEVELOPMENT: Gets Court OK for $60MM Stalking Horse Bid
SRP CAPITAL: Perth Amboy Property Sale to 395-397 Mechanical OK'd
STORABLE INC: Moody's Affirms B3 CFR Following Dividend Recap

SUNNOVA ENERGY: NYSE to Delist Shares After Chapter 11 Filing
TIGHT LINES: Hearing on Bid to Use Cash Collateral Set for June 24
TOP SHELV: Unsecured Creditors Will Get 66% of Claims in Plan
TUI BAYSIDE: Seeks to Hire Mancuso Law PA as Bankruptcy Counsel
USIC HOLDINGS: Cliffwater Corporate Marks $6.6MM Loan at 78% Off

USRP HOLDINGS: Cliffwater Corporate Marks $4.9MM Loan at 46% Off
VENUS CONCEPT: To Sell Venus Hair Biz to Meta Healthcare for $20M
VF CORP: Moody's Cuts CFR to 'Ba2' & Alters Outlook to Negative
VILLAGE ROADSHOW: Court OKs $417.5MM Chapter 11 Asset Sale
VIRGINIA PARK: Seeks Chapter 11 Bankruptcy in New York

VWS HOLDCO: U.S. Trustee Appoints Creditors' Committee
WATER ENERGY: To Sell Big Spring Property to 2 Kneel for $90K
WAYSIDE SCHOOLS: S&P Affirms 'BB' Rating on 2021A/B Revenue Bonds
WELLPATH HOLDINGS: McDuff's Objections to Bankruptcy Stay Denied
WELLPATH HOLDINGS: Withdrawal Notice of Riley's Counsel Denied

WHITESTONE UPTOWN: Amends Motion to Sell Dallas Property
WILCOV HOLDINGS: Gets Interim OK to Use Cash Collateral
WILCOV HOLDINGS: Seeks Approval to Hire Myers Law LLC as Attorney
WINDTREE THERAPEUTICS: Issues Notes, Warrants to Fund Titan Deal
WINDTREE THERAPEUTICS: LOI to Sell Oncology Assets for Up to $137M

WOLFSPEED INC: Nears Bankruptcy Agreement w/ Apollo, Other Lenders
WOODHILL NC: Gets Interim OK to Use Cash Collateral
WORKSPORT LTD: Adds Second Dealer, Eyes $21.5M B2B Revenue
WORLD WIDE INVESTMENT: Seeks Chapter 11 Bankruptcy in Florida
WST INDUSTRIES: Bankr. Administrator Unable to Appoint Committee

ZAHAV VENTURES: Section 341(a) Meeting of Creditors on July 17
ZAMA&ZAMA INC: Case Summary & 20 Largest Unsecured Creditors
ZIGI USA: Updates Unsecured Claims Details; Files Amended Plan
ZW DATA: Issues 358K Shares for $1.1M Gross Proceeds
[] BOOK REVIEW: Dynamics of Institutional Change


                            *********

1 SANDPIPER: Bankruptcy Administrator Unable to Appoint Committee
-----------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Eastern District of North
Carolina disclosed in a filing that no official committee of
unsecured creditors has been appointed in the Chapter 11 case of 1
Sandpiper, LLC.

                         About 1 Sandpiper

1 Sandpiper, LLC owns a vacation rental property located at 1
Sandpiper Lane in Marathon, Fla. The property is valued at$3.65
million.

1 Sandpiper sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D.N.C. Case No. 25-01836) on May 15, 2025. In its
petition, the Debtor reported total assets of $3,822,330 and total
liabilities of $8,836,717.

Judge Pamela W. Mcafee handles the case.

The Debtor is represented by Danny Bradford, Esq., at Paul D.
Bradford, PLLC.


23ANDME HOLDING: Judge Denies Texas Bid to Stop Data Sale
---------------------------------------------------------
Angelica Serrano-Roman of Bloomberg Law reports that a bankruptcy
judge has denied Texas' request to temporarily block the planned
sale of 23andMe's genetic data repository, finding the state failed
to demonstrate the deal would cause immediate and irreparable
harm.

At a hearing Wednesday, June 18, 2025 in the U.S. Bankruptcy Court
for the Eastern District of Missouri, Judge Brian C. Walsh said the
potential harm cited by Texas was speculative, as the transaction
had not yet received court approval. "It doesn't show more than a
possibility," Walsh said. "Texas can't know if it will be
approved."

The $305 million sale was awarded to 23andMe co-founder Anne
Wojcicki and TTAM Research Institute. Regeneron Pharmaceuticals was
named as the backup bidder. The proposed structure involves forming
a new Delaware-based entity, referred to in court documents as
NewCo, which would receive the company's assets, including its
genetic database. TTAM would then acquire all of NewCo's equity,
Bloomberg Law reports.

The deal is backed by 23andMe's unsecured creditors committee, and
company attorneys said they aim to conclude the sale hearing by
Friday. However, mounting objections from states including
California, Tennessee, Utah, and others could slow the process.
These states have raised concerns about the need for stronger
customer consent measures, the report states.

Texas argued that the deal violates state law under the Texas
Direct-to-Consumer Genetic Testing Act, which gives individuals
property rights over their genetic data. Layla Milligan from the
Texas Attorney General's Office argued that transferring the data
to a new legal entity would require fresh, explicit consent from
Texas residents. "This would allow a transfer against Texas law,
and we can’t recover data once it is transferred," she said.

Christopher Hopkins, an attorney for 23andMe, responded that no
immediate data transfer is taking place since the court has yet to
approve the sale. He also noted that customers would still have the
option to delete their data after the transaction is completed.

Under the proposed agreement, TTAM would provide two years of
identity theft monitoring through Experian and implement safeguards
for the genetic information of approximately 15 million customers,
the report states.

The case is 23andMe Holding Co., Bankr. E.D. Mo., No. 25-40976,
hearing held June 18, 2025.

                        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.


250 WYNAH: Seeks Cash Collateral Access
---------------------------------------
250 Wynah Lane, LLC asked the U.S. Bankruptcy Court for the
Northern District of Illinois, Eastern Division, for authority to
use cash collateral and provide adequate protection.

The Debtor owns a residential rental property located at 250 Winyah
Lane in Vineyard Haven, Massachusetts -- its sole income-producing
asset. To continue operating and avoid immediate and irreparable
harm, the Debtor requested the court's approval to use cash
collateral generated from rental income and other property-related
revenues. These funds are currently subject to the secured
interests of two lenders: World Business Lenders and The Cape Cod
Five Cents Savings Bank.

The Debtor argued that access to this cash collateral is essential
to maintaining ongoing operations, preserving the value of the
property, and working toward a successful reorganization. Without
this relief, the Debtor would be forced to cease operations,
resulting in the loss of its business and income.

To protect the interests of WBL and Cape Cod Bank, the Debtor
proposed providing adequate protection in the form of replacement
liens on all post-petition rents and cash proceeds. It also commits
to maintaining property insurance, staying current on real estate
taxes, and ensuring the property is preserved and does not
deteriorate in value. Additionally, owner Kenneth Johnson, through
personal commitment, will continue making debt service payments to
Cape Cod Bank.

                     About 250 Wynah Lane LLC

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

250 Wynah Lane sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-07414) on May 14,
2025. In its petition, the Debtor reported estimated assets and
liabilities between $1 million and $10 million.

Honorable Bankruptcy Judge Deborah L. Thorne handles the case.

Matthew T. Gensburg, Esq., at Gensburg Calandriello & Kanter, P.C.
is the Debtor's legal counsel.

The Cape Cod Five Cents Savings Bank, as lender, is represented
by:

   Sean P. Williams, Esq.
   Levenfeld Pearlstein, LLC
   120 S. Riverside, Suite 1800
   Chicago, IL 60606
   Telephone: (312) 346-8380
   swilliams@lplegal.com


58 OCEAN AVENUE: Amends Unsecureds & Secured Claims Pay Details
---------------------------------------------------------------
58 Ocean Ave., LLC, submitted an Amended Disclosure Statement
describing Plan of Reorganization dated June 5, 2025.

This is a liquidation plan with a reorganization alternative
meaning that the Debtor will sell Its asset by a date certain, to
wit, September 30, 2025.

The additional length of time is needed to sell the real property
because of its high value in excess of $8 million dollars, the
nature of financing needed and the potential to build on the
property. The real property has already been listed with local
realtor, Adele Cohen. If the property cannot be sold by the date
certain, the Debtor has available to it a loan from close family
friends. In other words, the Proponent seeks to pay Its debts under
the Plan by selling Its real property or obtaining a loan.

Class 1 consists of the Secured Claim of Fifty Eight Ocean, LLC.
This Class shall be paid at the time of closing. The Debtor
objecting to the amended proof of claim and will file the
appropriate motion objecting to same; Debtor disputes the demand of
16% post-petition interest.

Class 2 consists of General Unsecured Claims.

     * Robert G. Ricco, Esq. Payment to be received on the
effective date of the plan.

     * American Water. Paid at time of closing pursuant to N.J.S.A.
40A:31-12.

     * New Jersey Natural Gas. Payment to be received on the
effective date of the plan.

The Plan will be funded by the sale of the asset, 58 Ocean Ave.,
Deal, New Jersey. Due to the high value of the asset and available
buyers to purchase this asset, the time required to complete the
sale of the property is September 30, 2025. In the event that the
Debtor is not able to sell the asset by the deadline, Debtor has
private bridge loan available from close family friends, to pay the
plan.

On or before September 1, 2025, if a sale of the real property is
not expected to conclude by the effective date of the plan
(September 30, 2025), the Debtor will file a motion pursuant to
Section 364 of the Bankruptcy Code to approve post-petition
financing. The anticipated terms of the bridge loan include: 5%
accruing interest with no monthly payments and a 1-year maturity;
Debtor required to pay all carrying costs including property taxes
and insurance.

A full-text copy of the Amended Disclosure Statement dated June 5,
2025 is available at https://urlcurt.com/u?l=u0NVn7 from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Jenee K. Ciccarelli, Esq.
     Law Offices of Wenarsky and Goldstein, LLC
     410 Route 10 West, Ste 214
     Ledgewood, NJ 07852
     Tel: (973) 221-5272
     Fax: 973-927-5252

                   About 58 Ocean Avenue

58 Ocean Avenue LLC is the fee simple owner of the real property
located at 58 Ocean Ave., Deal, NJ 07723-1330 valued at $8
million.

58 Ocean Avenue LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 24-21708) on Nov. 26, 2024.
In the petition filed by Joseph Safdieh, as managing member, the
Debtor reports total assets of $8,000,000 and total liabilities of
$4,702,145.

The Debtor is represented by Scott J. Goldstein, Esq. at LAW
OFFICES OF WENARSKY & GOLDSTEIN LLC.


842 REDDING: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: 842 Redding Road, LLC
        842 Redding Road
        Fairfield CT 06824

Case No.: 25-50498

Business Description: 842 Redding Road, LLC holds a leasehold
                      interest in a single-family residence and
                      qualifies as a single-asset real estate
                      debtor under U.S. bankruptcy law.

Chapter 11 Petition Date: June 17, 2025

Court: United States Bankruptcy Court
       District of Connecticut

Debtor's Counsel: Mark Kratter, Esq.
                  MARK KRATTER
                  71 East Avenue Ste K
                  Norwalk CT 06851
                  Tel: (203) 853-2312
                  Email: laws4ct@aol.com

Total Assets: $2,500

Total Liabilities: $1,550,000

The petition was signed by Joseph Flores as member.

The Debtor has confirmed in the petition that there are no
unsecured creditors

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

https://www.pacermonitor.com/view/FGHJFOA/z_842_Redding_Road_LLC__ctbke-25-50498__0001.0.pdf?mcid=tGE4TAMA


8434 ROCHESTER: Updates General Unsecured Claims Pay; Amends Plan
-----------------------------------------------------------------
8434 Rochester Ave RE, LLC, and affiliates submitted a Third
Amended Disclosure Statement for Third Amended Chapter 11 Plan
dated June 5, 2025.

The Debtors are special purpose limited liability companies which
hold title to certain real property. The Properties were pledged as
collateral to secure certain debts of various claims related to
CSI.

The debts of CSI include, but are not limited to: (1) secured
claims, including some of the Winhall Secured Claims, that consist
of loans made to CSI but personally guaranteed by Mr. Theisen,
including pledging certain of the Properties as collateral; (2)
obligations owed to USFIC pursuant to surety bonds provided to or
for the benefit of CSI in 2016 pursuant to a General Indemnity
Agreement, to which Mr. Theisen was also a party, and pursuant to
which USFIC recorded liens against certain of the Properties and
other assets of Mr. Theisen; and (3) obligations owed to Billd
pursuant to a Master Contractor Agreement with CSI, personally
guaranteed by Mr. Theisen, and pursuant to which Billd contends it
obtained an attachment order against the Properties as assets
related to Mr. Theisen.

Valencia, Decca Solar and Winhall later entered into a Stipulation
(the "Solar Stipulation") to, inter alia, resolve Decca Solar's
claim by giving Decca Solar an Allowed General Unsecured Claim in
the amount of $863,662 but with Winhall reserving its rights to
object at a later date as more fully set forth in the Solar
Stipulation. The Solar Stipulation was approved by a Bankruptcy
Court order entered on May 29, 2025.

The Plan is a reorganization plan and a liquidation plan. The Plan
provides for a mechanism for the orderly sale of the Debtors' real
property, including real property owned by Sierra and SBY as co
tenants, and certain real property contributed by 730 Wasbash and
the disbursement of the Plan.

Pursuant to the Property Sale and Settlement Agreement, Winhall
will receive a junior deed of trust (behind the current first lien
and the lien in favor of USFIC on the Newport Beach Property
("Newport Lien") and a junior deed of trust (behind the liens in
favor of USFIC and SBY on the Costa Mesa Property (the "Costa Mesa
Lien") (the Newport Lien and the Costa Mesa Lien shall be
collectively referred to herein as the "New Liens") to further
secure the Winhall Secured Claims as new value contributions by Mr.
Theisen.

Pursuant to the Property Sale and Settlement Agreement, Winhall may
only enforce the Newport Lien if Winhall is not paid in full
through this Plan before the Winhall Full Payment Date. In the
event the Newport Beach Property is sold prior to Winhall being
paid in full, the Newport Beach Property will be sold free and
clear of the Newport Lien but the Newport Lien will attach to any
new property purchased by Mr. Theisen, subordinate to any such loan
needed to finance the purchase of the new property and/or will
attach to any Net Proceeds of the sale of the Newport Beach
Property other than the amount of the homestead exemption to which
Mr. Theisen is entitled under Federal or California law.

Pursuant to the Property Sale and Settlement Agreement, filed
separately but incorporated herein (the "Property Sale and
Settlement Agreement"), Mr. Theisen, 730 Wasbash and the Youngs
shall cause the Redlands Property (including the interest of the
co-owners (the Youngs' trust)) to be sold on or before October 31,
2025. Pursuant to the Property Sale and Settlement Agreement, the
Youngs have consented to the sale of the Redlands Property subject
to entry of the Confirmation Order. The Confirmation Order shall
serve as a mandatory injunction requiring Mr. Theisen, 730 Wasbash
and the Youngs to take all necessary steps to timely effectuate the
sale of the Redlands Property on or before October 31, 2025.

Class 4-B consists of Other General Unsecured Claims. The General
Unsecured Claim of Sheila Horn is disputed and unliquidated as none
of the Debtors are liable for any debt owed to Ms. Horn. In order
to resolve Claim 6 of Sheila Horn, in full settlement and
satisfaction of Claim 6 of Ms. Horn, the Debtors shall pay Ms. Horn
the Horn Settlement Amount by no later than December 31, 2025. In
the event the Horn Settlement Amount is not paid to Ms. Horn by
December 31, 2025, the Horn Settlement Amount will start accruing
interest at a rate of 4.25% per annum.

The Horn Settlement Amount shall be secured by a junior lien on the
Rancho Property (the "Horn Lien"), subject to the limitations set
forth below: (1) the Horn Lien shall be subordinate to the liens in
favor of Winhall and USFIC; (2) the Horn Lien shall have not
provide any rights of foreclosure or sale with respect to the
Rochester Property; (3) the Horn Lien shall insure that any funds
that would otherwise be payable to Rochester from the sale of the
Rancho Property shall instead be paid to Ms. Horn to the extent of
any remaining balance of the Horn Settlement Amount; (4) in the
event of any sale of the Rancho Property by Rochester, Ms. Horn
shall release her lien and be permitted to submit a demand in
escrow equal to the Horn Settlement Amount still outstanding;
provided, however, that Ms. Horn shall only receive any Net
Proceeds that would otherwise be payable to Rochester after payment
and satisfaction of any demands placed into escrow by Winhall
and/or USFIC; and (5) Ms. Horn shall have no right to object to,
contest or challenge any sale of the Rancho Property and/or the
exercise of any rights by Winhall and/or USFIC with respect to any
rights they enjoy under their respective deeds of trust against the
Rancho Property.

The Horn Lien shall be automatically perfected upon entry of the
Confirmation Order. Ms. Horn shall be subordinated to Winhall in
both lien priority and right of payment. Ms. Horn shall not be
entitled to receive any payment or distribution unless and until
the Winhall Secured Claims are paid in full.

Under the Property Sale and Settlement Agreement, any and all
claims and defenses SBY and/or the Youngs may have against Winhall,
Preferred Bank, the Debtors, Mr. Theisen, his trust and/or any of
his affiliates or related entities, shall be released and the SBY
Bankruptcy Case shall be voluntarily dismissed.

Pursuant to the Property Sale and Settlement Agreement, SBY will
have an Allowed Claim in the amount of $250,000 attributable to
attorneys' fees and costs incurred by SBY in connection with the
Cases and the SBY Bankruptcy Case and, plus any amounts paid to
Winhall from the SBY Proceeds as provided herein.

Pursuant to the Property Sale and Settlement Agreement, the Youngs
shall also consent to the sale of the Redlands Property without the
need for any partition action and shall execute all documents and
take all steps reasonably necessary to effectuate such sale. From
the sale of the Redlands Property, the Youngs will receive their
one-half portion of the Net Proceeds of the sale. as well as
$250,000 from 730 Wasbash's one-half portion of the Net Proceeds of
the sale. 730 Wasbash's one-half portion of the Net Proceeds will
otherwise be used to pay down the Winhall Secured Claims and other
Creditors.

The Confirmation Order shall serve as a mandatory injunction as to
the owners of the Redlands Property and the Chino Property
requiring them to take all such actions and sign all such documents
as necessary to effectuate the sale of such properties pursuant to
the terms of this Plan. In the event the Creditors in Class 4-B do
not consent to the proposed settlement herein, the Debtors intend
to object to the claims of the Creditors in Class 4-B.

The Plan is a reorganization plan and a liquidation plan. The Plan
will be funded by the following:

     * Any unencumbered Cash on hand on the Effective Date, which
may include rents that have accumulated from the operation of the
Fontana Property, the Rancho Property and the Chino Property
through the Effective Date and which has not already been turned
over to SBY or Winhall.

     * The sale of the Properties.

     * New value contribution by Mr. Theisen of the New Liens on
the Newport Beach Property and the Costa Mesa Property and by 730
Wasbash of its one-half interest in the Redlands Property, as
additional collateral for the Winhall Secured Claims, the SBY
Indemnity Claim, and to fund other distributions contemplated under
the Plan.

     * Ongoing rental income from the Rancho Property and the Chino
Property. The Debtors intend to continue operating their real
property assets in the ordinary course of business until the Rancho
Property and/or the Chino Property are sold.

A full-text copy of the Third Amended Disclosure Statement dated
June 5, 2025 is available at https://urlcurt.com/u?l=yt8LiQ from
PacerMonitor.com at no charge.

General Counsel for the Jointly Administered Debtors:

     James C. Bastian, Jr., Esq.
     Melissa Davis Lowe, Esq.
     Shulman Bastian Friedman & BUI LLP
     100 Spectrum Center Drive, Suite 600
     Irvine, CA 92618
     Tel: (949) 340-3400
     Fax: (949) 340-3000
     Email: JBastian@shulmanbastian.com;
            MLowe@shulmanbastian.com

                   About 8434 Rochester Ave, RE

8434 Rochester Ave is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)).

8434 Rochester Ave RE LLC in Newport Beach, CA, filed its voluntary
petition for Chapter 11 protection (Bankr. C.D. Cal. Case No.
24-10729) on March 26, 2024, listing as much as $10 million to $50
million in both assets and liabilities. Gustavo W. Theisen as
manager, signed the petition.

Judge Scott C. Clarkson oversees the case.

SHULMAN BASTIAN FRIEDMAN & BUI LLP serves as the Debtor's legal
counsel.


A.E. SCHLUETER: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Trustee for Region 21 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of A. E. Schlueter Pipe Organ Sales and Service,
Inc.

         About A.E. Schlueter Pipe Organ Sales and Service

A.E. Schlueter Pipe Organ Sales and Service, Inc. specializes in
building, repairing, and maintaining pipe organs across the United
States.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55514) on May 16,
2025. In the petition signed by Arthur E. Schlueter, Jr., chief
executive officer, the Debtor disclosed up to $500,000 in assets
and up to $10 million in liabilities.

Judge Paul Baisier oversees the case.

Thomas T. McClendon, Esq., at Jones & Walden LLC, represents the
Debtor as legal counsel.


AGUA VIVA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Agua Viva Ranch, LLC
        11201 County Road 210
        Bertram, TX 78605-2010

Business Description: Agua Viva Ranch, LLC is a holding company
                      based in Bertram, Texas.  It owns and
                      manages heavy equipment and vehicles used in
                      land development and specialty trade
                      activities.  The Company also engages in
                      recreational ranch operations, including
                      guided hunts and lodging services.

Chapter 11 Petition Date: June 19, 2025

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 25-10927

Judge: Hon. Shad Robinson

Debtor's Counsel: Robert C Lane, Esq.
                  THE LANE LAW FIRM
                  6200 Savoy Dr Ste 1150
                  Houston TX 77063-3369
                  Tel: (713) 595-8200
                  E-mail: notifications@lanelaw.com

Total Assets: $1,535,699

Total Debts: $1,861,515

The petition was signed by Jeremy Curry as CEO.

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

https://www.pacermonitor.com/view/EHKSV6I/Agua_Viva_Ranch_LLC__txwbke-25-10927__0001.0.pdf?mcid=tGE4TAMA


ALTICE FRANCE: Chapter 15 Case Summary
--------------------------------------
Nine affiliates that concurrently filed voluntary petitions for
relief under Chapter 15 of the Bankruptcy Code:

    Debtor                                        Case No.
    ------                                        --------
    Altice France S.A. (Lead Case)                25-11349
    16, rue du General Alain de Boissieu
    75015 Paris, France

    Altice B2B France SAS                         25-11351
    Completel SAS                                 25-11352
    SFR Fibre SAS                                 25-11353
    SFR Presse Distribution SAS                   25-11354
    SFR Presse SAS                                25-11355
    Societe Francaise du Radiotelephone – SFR SA  25-11356
    Ypso France SAS                               25-11357
    Numericable U.S. LLC                          25-11358

Business Description: Altice France is a telecommunications
                      operator that provides high-speed internet,
                      digital and analog television, fixed-line,
                      and mobile telephone services across France.
                      It serves over 26 million customers,
                      including government, residential, and
                      business clients.  Founded in 2002, the
                      Company expanded through acquisitions such
                      as Numericable and SFR, and operates as a
                      subsidiary of Luxembourg-based Altice France
                      Holding S.A.

Chapter 15 Petition Date:  June 17, 2025

Court:                     United States Bankruptcy Court
                           Southern District of New York  
                  
Judge:                     Hon. Michael E Wiles

Foreign Representative:    Laurent Halimi
                           16, rue du General Alain de Boissieu,
                           75015 Paris, France

Foreign Proceeding:        Sauvegarde Acceleree reorganization
                           proceedings under French law currently
                           pending before the Tribunal des
                           Activites Economiques de Paris
                           (Commercial Court of Paris, France)

Foreign
Representative's
Counsel:                   Ryan Preston Dahl, Esq.
                           Daniel Gwen, Esq.
                           Lucas Brown, Esq.
                           ROPES & GRAY LLP
                           1211 Avenue of the Americas
                           New York, NY 10036
                           Tel: (212) 596-9000
                           Fax: (212) 596-9090
                           Email: ryan.dahl@ropesgray.com
                                  daniel.gwen@ropesgray.com
                                  lucas.brown@ropesgray.com

Estimated Assets:          Unknown

Estimated Debt:            Unknown

A full-text copy of the Lead Debtor's Chapter 15 is available for
free on PacerMonitor at:

https://www.pacermonitor.com/view/3I7LX3Q/Altice_France_SA_and_Laurent_Halimi__nysbke-25-11349__0001.0.pdf?mcid=tGE4TAMA


AMC NETWORKS: Moody's Lowers CFR to B3 & Sr. Secured Loans to B2
----------------------------------------------------------------
Moody's Ratings downgraded AMC Networks Inc.'s (AMC Networks)
corporate family rating to B3 from B2, its probability of default
rating to B3-PD from B2-PD, and the ratings on the senior secured
bank credit facilities to B2 from Ba3. Moody's also downgraded the
ratings on AMC Networks' senior secured notes to B2 from Ba3 and
the senior unsecured notes to Caa2 from Caa1. Concurrently, Moody's
assigned a B2 rating to the proposed $400 million senior secured
notes due 2032. AMC Networks' SGL-1 Speculative Grade Liquidity
Rating (SGL) remains unchanged. The outlook for AMC Networks
remains stable.

The downgrade of the CFR by one notch to B3 from B2 reflects AMC
Networks' persistent operating challenges and limited visibility as
to when the operating performance of AMC Networks will stabilize.
For the past several years, AMC Networks has been experiencing
declining linear subscriber trends impacting its once predictable
revenue and profitability. Meanwhile, the two notch downgrade to
the senior secured ratings is due in part to the changing mix in
the capital structure between secured and unsecured debt.

The proceeds from the proposed senior secured notes offering, in
conjunction with cash from AMC Networks' balance sheet, will be
used to refinance (i) all of the company's existing term loan A
(for the non-extended portion) maturing in February 2026, and (ii)
tender for a portion of the outstanding 4.25% senior unsecured
notes due February 2029. The ratings on the existing senior Term
Loan A maturing in 2026, will be withdrawn at the close of the
transaction if no obligations remain outstanding. For year-end
2025, and pro forma for the proposed financing, Moody's projects
AMC Networks' total debt-to-EBITDA and net debt-to-EBITDA
(inclusive of Moody's adjustments) will be 5.5x and 3.6x,
respectively.

The B2 rating for the proposed senior secured notes is one notch
above AMC Networks' CFR given their senior position in the capital
structure, and the rating lifts it receives from the cushion
provided by the senior unsecured notes due in February 2029.

RATINGS RATIONALE

AMC Networks' B3 CFR reflects the company's declining revenue and
EBITDA trends, elevated leverage, and smaller operating scale
relative to competitors in the media and entertainment industry.
Though the company continues to invest around $1 billion annually
to create good quality content to be distributed on its branded
networks (AMC, BBC AMERICA, IFC, SundanceTV, Moody's TV, Acorn TV,
etc.), and/or on its direct-to-consumer (DTC) platform, the decline
in linear viewership continues to negatively impact distribution
fees and advertising sales. For this year and next, Moody's
projects domestic distribution fees and advertising sales to
decline by mid single digits and low double digits driving AMC
Networks' overall revenue decline. For 2025 and 2026, Moody's
projects AMC Networks' total revenue to decline by nearly 6% and
4%, respectively, compared to -10.7% in 2024.

At the same time, the ratings reflect Moody's expectations for
solid free cash flow in 2025 and in 2026, and a strong commitment
by the company to reduce leverage and maintain very good liquidity,
despite declining EBITDA trends. For this year and next, Moody's
projects AMC Networks will generate around $250 million in free
cash flow per annum. The healthy free cash flow generation is
partly due to the company's cost cutting initiatives implemented in
2023 and continued content monetization through licensing
agreements as AMC Networks has a proven ability to consistently
deliver high quality content to targeted audiences with
demographics that appeals to distributors and streaming platforms.

Moody's expects AMC Networks to maintain very good liquidity over
the next 12 to 18 months. This is supported by (i) around $870
million in cash (as of March 31, 2025), (ii) full availability
under the new $175 million undrawn revolving credit facility
expiring in April 2028 and (iii) Moody's assumptions of more than
$250 million in free cash flow in 2025.

The bank credit facility is governed by a maximum net
debt-to-operating cash flow ratio of 5.75x stepping down to 5.5x in
2026, and a minimum operating cash flow-to-interest expense
covenant of 2.0x stepping up to 2.25x in 2026 as well. Moody's
projects the company to have ample liquidity under both covenants.
In 2025 and 2026, Moody's do not expect AMC Networks to draw on its
revolver.

The stable outlook, reflects Moody's expectations that over the
next 12 to 18 months, AMC Networks will maintain very good
liquidity, generate material free cash flow, and continue to reduce
debt obligations such that total debt-EBITDA will approach 5.0x by
year end 2026, despite persistent revenue and EBITDA declining
trends.

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

The ratings could be upgraded if the company successfully
transitions the business model to DTC (direct to consumer) such
that the overall subscriber base stabilizes and it achieves
sustained organic revenue and EBITDA growth; the company maintains
at least good liquidity; and debt-to-EBITDA is sustained below 5.0x
(including Moody's adjustments).

The ratings could be downgraded if the company's does not
demonstrate a steady improvement in the pace of revenue and EBITDA
declines, the company does not appear on track to reach an
inflection point at which DTC subscriber growth offsets linear
pressures, debt-to-EBITDA is sustained above 6.0x (including
Moody's adjustments), or liquidity materially weakens.

Headquartered in New York, New York, AMC Networks Inc. supplies
television programming to pay-TV service providers throughout the
United States. The company predominantly operates five
entertainment programming networks - AMC, Moody's tv, IFC, Sundance
TV and BBC America.

The principal methodology used in these ratings was Media published
in June 2021.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


AMSPEC PARENT: S&P Rates New Senior Secured Debt Facility 'B'
-------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to U.S.-based provider of testing, inspection, and
certification (TIC) services AmSpec Parent LLC's proposed senior
secured debt facility, which comprises a repriced $650 million
first-lien term loan, a $100 million delayed draw term loan (DDTL),
and a $100 million cash revolver. The '3' recovery rating indicates
S&P's expectation for meaningful (50%-70%; rounded estimate: 50%)
recovery in the event of a default.

The company will use the proceeds from the new facility to repay
its existing senior secured debt. In addition, S&P expects the
proposed debt will have a lower interest margin than the previous
facility, which will provide AmSpec with modest cash interest
savings. The transaction will be leverage neutral. S&P said,
"Therefore, our 'B' issuer credit rating and stable outlook on the
company are unchanged. While we continue to believe AmSpec could
fund future acquisitions with debt, we expect it will remain
disciplined with its capital allocation and maintain credit
measures we view as appropriate for the current rating."

Issue Ratings--Recovery Analysis

Key analytical factors

-- S&P's simulated default scenario contemplates a payment default
in 2028 amid a sustained cyclical economic downturn that leads to
reduced demand for energy and chemical and TIC services. This
results in lower revenue and margin pressure, leading to a payment
default.

-- S&P values the company as a going concern using a 5.5x multiple
of its projected emergence EBITDA, which is in line with our
standard assumptions for the professional services industry.

-- S&P assumes 85% of the revolver is drawn in a default
scenario.

-- S&P assumes the $100 million DDTL is fully drawn in a default
scenario.

Simulated default assumptions

-- Year of default: 2028
-- EBITDA at emergence: $99 million
-- EBITDA multiple: 5.5x

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $517
million

-- Valuation split (obligors/nonobligors): 50%/50%

-- Collateral value available to senior secured creditors: $517
million

-- Total first-lien debt: $837 million

    --Recovery expectations: 50%-70% (rounded estimate: 60%)

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



ARCHER ACQUISITION: Cliffwater Marks $619,000 Loan at 72% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $619,661
loan extended to Archer Acquisition, LLC to market at $171,875 or
28% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Archer
Acquisition, LLC. The loan accrues interest at a rate of 9.39% per
annum. The loan matures on October 6, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Archer Acquisition, LLC

Archer Acquisition, LLC sources and operates cash flowing assets to
unlock financial freedom for its network of investors. It excels in
the acquisition, management, and strategic enhancement of
undervalued assets, specifically focusing on multifamily and RV
parks.


ARCTICOM GROUP: Cliffwater Corporate Marks $2.1MM Loan at 71% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,171,429
loan extended to The Arcticom Group, LLC to market at $625,709 or
29% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to The Arcticom Group,
LLC. The loan accrues interest at a rate of 11.82%, 4.00% PIK per
annum. The loan matures on December 22, 2027.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

About Arcticom Group, LLC

Arcticom Group, LLC is engaged in providing construction and
engineering services.


ARTIFICIAL INTELLIGENCE: Inks 2-Year $30-Bil. Equity Deal With GHS
------------------------------------------------------------------
Artificial Intelligence Technology disclosed in a Form 8-K Report
filed with the U.S. Securities and Exchange Commission that the
Company entered into the Equity Financing Agreement with GHS
Investments, LLC. This Purchase Agreement between the Company and
GHS pertains to the potential sale of up to $30,000,000,000 shares
of the Company's common stock to GHS for a two-year term expiring
on June 11, 2027.

AITX said, "Pursuant to the Purchase Agreement, we have the right,
in our sole discretion, subject to the conditions and limitations
contained therein, to direct GHS, by delivery of a purchase notice
to purchase over the 24-month term of the Purchase Agreement, a
minimum of $10,000 and up to a maximum of $1,500,000. Puts are
further limited to the Investor owning no more than 4.99% of the
outstanding stock of the Company at any given time. The aggregate
value of Purchase Shares sold to GHS may not exceed $30,000,000.
Each Purchase Notice will set forth the Purchase Price and number
of Purchase Shares in accordance with the terms of the Purchase
Agreement. The maximum dollar amount of each Put will not exceed
250% of the average daily trading volume for the common stock
during the 10 consecutive trading days preceding the Put Notice
Date."


The Purchase Price is defined in the Purchase Agreement as 80% of
the Market Price. If the average Closing Price for the Common Stock
during the three trading days preceding a Put Notice is equal to or
greater than $.01 per share, the applicable Purchase Price shall
equal 85% of the Market Price. Following an up-list to the NASDAQ
or an equivalent national exchange by the Company, the Purchase
price shall equal 90% of the lowest Volume Weighted Average Price
for the Common Stock during the Pricing Period, subject to a floor
of $4.00 per share, below which the Company shall not deliver a
Put.

The Purchase Agreement prohibits GHS from purchasing any shares of
common stock if those shares, when aggregated with all other shares
of the Company's common stock then beneficially owned by GHS would
result in GHS having beneficial ownership, at any single point in
time, of more than 4.99% of the then total outstanding shares of
our common stock. There are no trading volume requirements or
restrictions under the Purchase Agreement, and we will control the
timing and amount of any sales of its common stock to GHS.

"We may not deliver a Purchase Notice to GHS and GHS is not
obligated to purchase the Purchase Shares unless each of the
following conditions are satisfied: there is an effective
Registration Statement; the Common Stock is listed or quoted for
trading on the Principal Market; we are not in breach of in default
of the Purchase Agreement or Registration Rights Agreement; no
injunction has been issued prohibiting the purchase of the or the
issuance of the Securities; and the issuance of the Securities does
not violate the Principal Market requirements."

The Purchase Agreement is for a term of 24 months, but may
terminate earlier on the date that GHS has purchased the aggregate
Offering Amount of $30,000,000 of the Purchase Shares that are sold
to GHS.

"We and GHS each have the right to terminate the Purchase Agreement
at any time upon thirty days-notice. The Purchase Agreement will be
suspended and remain suspended if any of the following events
occur: if our Common Stock is suspended by the applicable
authority, our Common Stock ceases to be quoted; we breach a
representation, warranty, covenant in the Purchase Agreement;, and
upon the occurrence of bankruptcy proceedings by or against us."

"Subject to the foregoing, actual sales of Purchase Shares to GHS
under the Purchase Agreement will depend on a variety of factors to
be determined by us from time to time, including, among others,
market conditions, the trading price of the Common Stock and
determinations by us as to the appropriate sources of funding for
our operations," AITX concluded.

On June 11, 2025, the Company also entered into a Registration
Rights Agreement covering the resale of the Registrable Securities
provided for on a Form S-1 Registration Statement.

                About Artificial Intelligence Technology

Headquartered in Ferndale, Mich., Artificial Intelligence
Technology Solutions Inc. is an innovator in the delivery of
artificial intelligence-based solutions that empower organizations
to gain new insight, solve complex challenges, and fuel new
business ideas. Through its next-generation robotic product
offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help
organizations streamline operations, increase ROI, and strengthen
business. AITX technology improves the simplicity and economics of
patrolling and guard services, allowing experienced personnel to
focus on more strategic tasks. Customers augment the capabilities
of existing staff and gain higher levels of situational awareness,
all at drastically reduced costs. AITX solutions are well-suited
for use in multiple industries such as enterprises, government,
transportation, critical infrastructure, education, and
healthcare.

Deer Park, Illinois-based L J Soldinger Associates, LLC, the
Company's auditor since 2019, issued a "going concern"
qualification in its report dated May 29, 2025, attached to the
Company's Annual Report on Form 10-K for the fiscal year ended
February 28, 2025, citing that the Company had negative cash flow
from operating activities of approximately $12.2 million, an
accumulated deficit of approximately $156.5 million and negative
working capital of approximately $2.5 million as of and for the
year ended February 28, 2025, which raises substantial doubt about
its ability to continue as a going concern.



ASCEND PERFORMANCE: Comm. Taps AlixPartners as Financial Advisor
----------------------------------------------------------------
The official committee of unsecured creditors of Ascend Performance
Materials Holdings Inc. and its affiliates seeks approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
AlixPartners, LLP as financial advisor.

The firm will render these services:

     a. review and evaluate the Debtors' current financial
condition, cash and financial forecasts, and periodically report to
the Committee regarding the same;

     b. conduct ongoing monitoring of payments proposed by the
Debtors;

     c. review and analyze the Debtors' proposed business plan;

     d. provide expert testimony on topics within AlixPartners'
expertise;

     e. review the Debtors' cash management, tax sharing and
intercompany accounting systems, practices and procedures;

     f. review and investigate: (i) related party transactions,
including those between the Debtors and their non-debtor
subsidiaries and affiliates (including, but not limited to, shared
services expenses and tax allocations) and (ii) selected other
prepetition transactions;

     g. review and evaluate proposed incentive compensation plans,
including Key Employee Incentive Plans and Key Employee Retention
Plans;

     h. identify and/or review potential preference payments,
fraudulent conveyances and other causes of action that the various
Debtors' estates may hold against third parties, including each
other;

     i. analyze the Debtors' assets and claims and assess potential
recoveries to the various creditor constituencies under different
scenarios, in coordination with the Committee's investment banker;

     j. advise the Committee and consult with the Debtors' advisors
(as appropriate) regarding the ongoing treatment of critical
vendors and utilization of relief provided under the Critical
Vendor Order, including analyses of critical vendor trade
agreements;

     k. review proposed operational relief requested by the
Debtors, including the rejection, assumption, and renegotiation of
executory contracts and unexpired leases;

     l. assist in the development and/or review of the Debtors'
plan of reorganization and disclosure statement;

     m. review and evaluate court motions filed or to be filed by
the Committee, the Debtors, or any other parties-in-interest, as
appropriate;

     n. render litigation support services, including e-Discovery
services, as requested from time to time by the Committee and its
counsel, regarding any of the matters to which AlixPartners is
providing services;

     o. attend Committee meetings and Court hearings as may be
required in the role of advisors to the Committee;

     p. conduct eDiscovery, document review and forensic data
services required in conjunction with any document requests or
other discovery; and

     q. assist with such other matters as may be requested that
fall within AlixPartners' expertise and are mutually agreeable but
are not duplicative of any services provided by other Committee
professionals.

AlixPartners' current standard hourly rates are:

     Partner/ Partner &
     Managing Director       $1,225 to $1,540
     Senior Vice President/
     Director                $850 to $1,150
     Vice President          $650 to $835
     Analyst/ Consultant     $250 to $640

In addition, the firm will be reimbursed for reasonable
out-of-pocket expenses incurred.

David MacGreevey, a partner and managing director at AlixPartners,
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 MacGreevey
     AlixPartners, LLP
     909 Third Avenue, Floor 30
     New York, NY 10022
     Telephone: (212) 490-2500
     Facsimile: (212) 490-1344
     Email: dmacgreevey@alixpartners.com

       About Ascend Performance Materials Holdings

The Debtors, together with their non-Debtor affiliates, are one of
the largest, fully-integrated producers of nylon, a plastic that is
used in everyday essentials, like apparel, carpets, and tires, as
well as new technologies, like electric vehicles and solar energy
systems. Ascend's business primarily revolves around the production
and sale of nylon 6,6 (PA66), along with the chemical intermediates
and downstream products derived from it. Common applications of
PA66 include heating and cooling systems, air bags, batteries, and
athletic apparel. Headquartered in Houston, Texas, Ascend has a
global workforce of approximately 2,200 employees and operates
eleven manufacturing facilities that span the United States,
Mexico, Europe, and Asia.

Ascend Performance Materials Holdings Inc. and its affiliates filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Tex. Lead Case No. 25-90127) on April 21, 2025.

In the petitions signed by Robert Del Genio, chief restructuring
officer, the Debtors disclosed $1 billion to $10 billion in both
estimated assets and liabilities.

Judge Christopher M. Lopez oversees the cases.

The Debtors tapped Bracewell LLP and Kirkland & Ellis LLP as
counsel; PJT Partners, Inc. as investment banker; FTI Consulting,
Inc. as restructuring advisor; and Deloitte LLP as tax advisor.
Epiq Corporate Restructuring LLC is the Debtors' claims, noticing,
and solicitation agent.


AT HOME GROUP: S&P Downgrades ICR to 'D' on Bankruptcy Filing
-------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
home decor retailer At Home Group Inc. to 'D' from 'SD' (selective
default). In addition, S&P lowered its issue-level ratings on At
Home's senior secured term loan due 2028, $300 million senior
secured notes due 2028, exchange notes due 2028, and senior
unsecured notes due 2029 to 'D'. S&P's recovery ratings on the
facilities are unchanged.

At the same time, S&P affirmed its 'D' issue-level rating on the
company's Cayman notes. S&P's recovery rating on the facility is
unchanged.

S&P expects to withdraw all its ratings on At Home in the next 30
days.

S&P downgraded At Home after it filed for bankruptcy protection
under Chapter 11 of the U.S. Bankruptcy Code. The company entered
Chapter 11 with a restructuring support agreement that provides it
with $200 million in new money as part of a $600 million
debtor-in-possession (DIP) financing package, which it will use to
finance its operations and pay bankruptcy-related expenses. The DIP
facility will subsequently convert to equity when At Home emerges
from bankruptcy. At the time of the filing, the company had
outstanding debt totaling almost $2 billion, which comprised $378
million drawn under its asset-based lending (ABL) facility, $579
million outstanding under its senior secured term loan facility,
$300 million of senior secured notes, $200 million of Cayman notes,
$483 million of exchange notes, and $58 million of senior unsecured
notes.

Changes in consumer behavior, difficult operating conditions, and a
highly leveraged capital structure have challenged At Home's
ability to generate positive free operating cash flow for the last
four years. The company's turnaround initiatives, which included
management changes, lowering its product prices, and implementing
cost cuts, were insufficient to materially improve its performance.
In 2025, the company's looming ABL maturity, along with the
implementation of multiple tariff increases on imports to the U.S.,
intensified its liquidity issues, given that it sources about 90%
of its products from overseas (including a significant exposure to
China). Therefore, on May 23, 2025, At Home entered in a
forbearance agreement after missing interest payments on its
notes.

S&P expects to withdraw all its ratings on the company and its
subsidiaries in the next 30 days.



AT HOME GROUP: S&P Lowers ICR to 'SD' on Missed Interest Payment
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on home decor
retailer At Home Group Inc. to 'SD' (selective default) from
'CCC'.

S&P also lowered its issue-level rating on the company's 11.5%
secured notes to 'D' from 'CCC'. The' 4' recovery rating on the
notes remains unchanged.

At Home Group Inc. did not make its interest payment due May 15,
2025 on its $200 million 11.5% senior secured notes due 2028 and
entered into a forbearance agreement with its lenders. The company
is current on the remainder of its debt.

The issue-level ratings and recovery ratings on the company's
senior secured term loan due 2028, $300 million senior secured
notes due 2028, senior secured toggle notes due 2028 and senior
unsecured notes due 2029 remain unchanged.

S&P will reassess its ratings on the company once it addresses the
default.

The downgrade reflects the company's missed interest payment on its
11.5% $200 million senior secured notes due May 15, 2025.
Furthermore, on May 23, 2025, the company entered into a
forbearance agreement with the majority of its lenders through June
30, 2025. Under the agreement the lenders under the 2026 ABL
facility and 2028 term loan agree to forbear their rights, which
include acceleration of payments in the event of default, until
June 30, 2025, subject to early termination events. In January
2025, the company elected to pay-in-kind (PIK) its interest payment
due May 14, 2025 on its toggle notes that allow for interest to be
paid in cash or in kind. The company has reached its PIK periods
allowed after that election and the option is unavailable going
forward.

S&P said, "We expect liquidity challenges to persist. The company's
audit for the fiscal year ended Jan. 25, 2025, indicated a weak
liquidity position that could affect the company's ability to
operate as a going concern. At the end of fiscal 2024 the company
had $14.2 million of cash and recorded a free operating cash flow
(FOCF) deficit of $61 million, an improvement from $127.8 deficit
in fiscal 2023. The company had $17.3 million available under its
ABL facility that is under cash dominion in which proceeds of
receivables collected are required to repay the ABL balance. Given
the company's weak operating performance and limited liquidity, we
believe it is unlikely it will be able to make its future interest
payments ($160 million annually) or to comply with its financial
maintenance covenants including its fixed charge coverage ratio. If
the company's fixed charge coverage ratio falls below 1x, the ABL
agreement is subject to specified availability floors that would
further restrict its liquidity.

"We will reassess our ratings on the company once we have more
information on At Home's plans to address the default and its
liquidity position."



ATARA BIOTHERAPEUTICS: All Proposals OK'd at Annual Meeting
-----------------------------------------------------------
Atara Biotherapeutics, Inc. held its 2025 annual meeting of
stockholders. The following is a brief description of each matter
voted upon at the Annual Meeting, as well as the number of votes
cast for or against each matter and the number of abstentions and
broker non-votes with respect to each matter. A more complete
description of each matter is described in more detail in the
Company's definitive proxy statement for the Annual Meeting filed
with the Securities and Exchange Commission on April 28, 2025.

A. Election of Directors

     1. AnhCo Nguyen, Ph.D.

          * For: 2,708,978
          * Withheld: 327,062
          *  Broker Non-Votes: 1,497,684

     2. Matthew K. Fust

          * For: 2,578,165
          * Withheld: 457,875
          * Broker Non-Votes: 1,497,684

     3. Gregory A. Ciongoli

          * For: 2,992,042
          * Withheld: 43,998
          * Broker Non-Votes: 1,497,684

Each of the three nominees for director was elected to serve until
the 2028 annual meeting of stockholders and until their respective
successors are elected.

B. Advisory vote to approve on the compensation of the Company's
named executive officers

          * For: 2,979,311
          * Against: 43,445
          * Abstain: 13,284
          * Broker Non-Votes: 1,497,684

The stockholders approved, on an advisory basis, the compensation
awarded to the Company's named executive officers, as disclosed in
the Proxy Statement.

C. Advisory vote on the frequency of stockholder advisory votes on
the compensation of the Company's named executive officers

          * One Year: 2,999,520
          * Two Years: 6,745
          * Three Years: 13,205
          * Abstentions: 16,570

The stockholders approved, on an advisory basis, the frequency of
one year for future stockholder advisory votes regarding
compensation awarded to named executive officers. In light of the
vote of the stockholders on this proposal and consistent with the
Company's Board of Directors' recommendation, the Company will
include a non-binding stockholder advisory vote to approve the
compensation of its named executive officers in its proxy materials
every year. The Company will hold such annual advisory votes until
the next required vote on the frequency of stockholder votes on
named executive officer compensation. The Company is required to
hold votes on the frequency of holding future non-binding advisory
votes on executive compensation every six calendar years.

D. Ratification of appointment of independent registered public
accounting firm

          * For: 4,386,460
          * Against: 68,678
          * Abstentions: 78,586

The stockholders ratified the appointment of Deloitte & Touche LLP
as the Company's independent registered public accounting firm for
the fiscal year ending December 31, 2025.

                    About Atara Biotherapeutics

Atara Biotherapeutics, Inc. -- atarabio.com -- is a biotechnology
company focused on developing off-the-shelf cell therapies that
harness the power of the immune system to treat difficult-to-treat
cancers and autoimmune conditions. With cutting-edge science and
differentiated approach, Atara is the first company in the world to
receive regulatory approval of an allogeneic T-cell immunotherapy.
The Company's advanced and versatile T-cell platform does not
require T-cell receptor or HLA gene editing and forms the basis of
a diverse portfolio of investigational therapies that target EBV,
the root cause of certain diseases, in addition to next-generation
AlloCAR-Ts designed for best-in-class opportunities across a broad
range of hematological malignancies and B-cell driven autoimmune
diseases. Atara is headquartered in Southern California.

San Francisco, Calif.-based Deloitte & Touche LLP, the Company's
auditor since 2013, issued a "going concern" qualification in its
report dated March 7, 2025, attached to the Company's Annual Report
on Form 10-K for the year ended Dec. 31, 2024, citing that the
Company's recurring losses from operations raises substantial doubt
about its ability to continue as a going concern.

As of Dec. 31, 2024, Atara Biotherapeutics had $109.1 million in
total assets, $206.4 million in total liabilities, and a total
stockholders' deficit of $97.28 million.


ATIS ACQUISITION: Cliffwater Corporate Marks $3.6MM Loan at 95% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,695,652
loan extended to ATIS Acquisition, Inc. to market at $178,098 or 5%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to ATIS Acquisition,
Inc. The loan accrues interest at a rate of 9.05% per annum. The
loan matures on September 24, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

               About ATIS Acquisition, Inc.

ATIS Acquisition, Inc. is a provider of vertical transportation
consulting, inspections, and managed services in North America,
with a strong focus on elevator and escalator systems.


AVSC HOLDING: Cliffwater Corporate Marks $1.9MM Loan at 61% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,900,993
loan extended to AVSC Holding Corp. to market at $738,521 or 29% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to AVSC Holding Corp. The
loan accrues interest at a rate of 11.50% per annum. The loan
matures on December 5, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

            About AVSC Holding Corp.

AVSC Holding Corp. operates as a holding company. The Company,
through its subsidiaries, provides commercial support services.


AWP GROUP: Cliffwater Corporate Marks $1.3MM Loan at 80% Off
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,346,716
loan extended to AWT Holding, Inc. to market at $267,319or 20% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to AWT Holding, Inc.
The loan accrues interest at a rate of 10.44% per annum. The loan
matures on December 17, 2027.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About AWT Holding, Inc.

AWT Holding, Inc. is a holding company that owns and controls other
companies, but generally does not conduct its own business
operations or produce goods or services.


AWP GROUP: Cliffwater Corporate Marks $26.4MM Loan at 65% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$26,478,875 loan extended to AWP Group Holdings, Inc. to market at
$9,369,176 or 35% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to AWP Group Holdings,
Inc. The loan accrues interest at a rate of 9.07% per annum. The
loan matures on December 23, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

               About AWP Group Holdings, Inc.

AWP Safety, formerly known as Area Wide Protective, is one of
America's leading traffic safety and traffic control companies.


AWP GROUP: Cliffwater Corporate Marks $4.7MM Loan at 66% Off
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,710,217
loan extended to AWP Group Holdings, Inc. to market at $1,587,478
or 34% of the outstanding amount, according to CCLFX's Form N-CSR
for the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to AWP Group Holdings,
Inc. The loan accrues interest at a rate of 9.07% per annum. The
loan matures on December 22, 2026.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

                   About AWP Group Holdings, Inc.

AWP Safety, formerly known as Area Wide Protective, is one of
America's leading traffic safety and traffic control companies.


AWP GROUP: Cliffwater Corporate Marks $9.5MM Loan at 80% Off
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $9,535,603
loan extended to AWP Group Holdings, Inc. to market at $1,922,077
or 20% of the outstanding amount, according to CCLFX's Form N-CSR
for the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to AWP Group Holdings,
Inc. The loan accrues interest at a rate of 9.07% per annum. The
loan matures on December 23, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About AWP Group Holdings, Inc.

AWP Safety, formerly known as Area Wide Protective, is one of
America's leading traffic safety and traffic control companies.


AWS HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: AWS Hospitality Group, Inc.
           d/b/a S2 Express Grill
        12237 Lancashire Ct.
        Mokena, IL 60448

Business Description: AWS Hospitality Group, Inc. operates S2
                      Express Grill, a restaurant chain offering
                      comfort food and globally inspired dishes
                      through casual and bar-and-grill formats.
                      Founded in 2019, the business evolved from a
                      nightlife venue in Calumet Park, Illinois,
                      and now operates multiple locations across
                      the Chicago metropolitan area, including
                      Richton Park, Orland Park, and downtown
                      Chicago.  The Company focuses on underserved
                      communities, aiming to revitalize
                      neighborhoods while creating local
                      employment opportunities.

Chapter 11 Petition Date: June 19, 2025

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 25-09341

Judge: Hon. Michael B Slade

Debtor's Counsel: Scott R. Clar, Esq.
                  CRANE, SIMON, CLAR & GOODMAN
                  Suite 3950
                  135 South LaSalle Street
                  Chicago, IL 60603-4297
                  Tel: 312-641-6777
                  Fax: 312-641-7114
                  Email: sclar@cranesimon.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Suheir Barakat as president.

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/6PHQZHA/AWS_Hospitality_Group_Inc__ilnbke-25-09341__0001.0.pdf?mcid=tGE4TAMA


BEACON MOBILITY: Moody's Rates New $640MM Sr. Secured Notes 'B1'
----------------------------------------------------------------
Moody's Ratings assigned a B1 rating to Beacon Mobility Corp.'s
(Beacon) proposed $640 million backed senior secured notes due
2030. All other ratings are unchanged, including Beacon's B1
Corporate Family Rating. The outlook is stable.

Proceeds from the notes will be used in conjunction with other
secured debt as part of Beacon's recapitalization. In addition to
the debt issuance, the company is raising new equity through a
continuation fund that is to be managed by Audax Private Equity.
Pro forma for the transaction, Beacon will have approximately
$1,280 million in secured debt split evenly between the notes and a
term loan. The notes will be secured with a first priority lien on
collateral and rank pari passu with the company's first lien senior
secured bank credit facilities (rated B1).

RATINGS RATIONALE

Beacon's ratings reflect its strong position as a significant
outsourced student transportation provider in North America. Beacon
has grown through an aggressive acquisition strategy, and thus,
Moody's believes has a limited track record of operating at its
current scale. A larger portion of Beacon's revenue comes from
providing transportation for students with specialized needs than
its peers, which Moody's believes allows the company to achieve a
high margin compared to general education transportation. A portion
of Beacon's business, though, involves paratransit services for
adults, which commands a lower margin and slightly tempers the
company's overall profitability. Nonetheless, Moody's expects
Beacon to maintain an EBITDA margin in the high-teens.

Following the recapitalization, Moody's expects Beacon's financial
leverage will be moderately high, with pro forma debt-to-EBITDA
between 5.0x and 5.5x. Moody's anticipates Beacon will use its
delayed draw term loan to pursue acquisitions that will temporarily
increase leverage, which is a goverance consideration. Given the
fragmented nature of Beacon's competitive market, Moody's expects
these acquisitions to be primarily tuck-in targets aimed at
increasing the company's scale in its existing regions and
expanding into adjacent geographies.

Moody's forecasts Beacon will maintain adequate liquidity with
sufficient cash (around $60 million at transaction close) and full
availability under a $200 million revolving credit facility. Beacon
will also have a separate $150 million letters of credit facility
to collateralize claims under its insurance program. Usage of the
letters of credit facility will not reduce availability under the
revolving credit facility. Moody's expects Beacon to modestly use
its revolver to support seasonal working capital needs.

Beacon's free cash flow has been negative but is expected to
approach breakeven in fiscal year 2026. However, free cash flow
will be constrained by capital spending required to regularly
refresh and grow its bus fleet. Therefore, free cash flow will
remain around breakeven. Moody's anticipates any excess cash flow
will be returned to shareholders or used for acquisitions over debt
repayment.

The stable outlook reflects Moody's expectations for steady organic
revenue growth and profitability supported by very high contract
renewal rates. The outlook also reflects Moody's expectations that
the company will continue to pursue growth through debt funded
acquisitions, which will limit significant reduction in leverage
over the next 12-18 months.

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

The ratings could be upgraded if Beacon increases scale and
demonstrates steady earnings growth while maintaining a disciplined
financial policy, including sustaining debt-to-EBITDA below 5.0x
and EBITDA less capex-to-interest expense above 2x. In addition,
the company would need to maintain good liquidity with consistently
positive free cash flow.

The ratings could be downgraded if Beacon experiences declining
revenue and lower profitability from loss of contracts, higher
costs or inadequately priced contracts. Debt-to-EBITDA approaching
6.0x and EBITDA less capex-to-interest expense below 1.5x could
result in a downgrade. Lastly, an inability to generate positive
free cash flow or increased reliance on its revolving credit
facility could prompt a downgrade of the ratings.

The principal methodology used in this rating was Passenger
Railways and Bus Companies published in August 2024.

Beacon Mobility Corp. is a North American bus transportation
company that provides busing services for school districts with a
focus on special needs students. The company transports over a half
million students daily across 25 US states. Following the
recapitalization it is anticipated that a continuation fund managed
by Audax Private Equity will own a majority of Beacon. Unaudited
pro forma revenue for the twelve months ended March 31, 2025 was
approximately $1.5 billion.


BEACON MOBILITY: S&P Rates New $550MM Senior Secured Notes 'B'
--------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Beacon Mobility Corp.'s $550 million, 7.25%
senior secured notes due in 2030. The '3' recovery rating indicates
its expectation of meaningful (rounded estimate: 50%) recovery for
senior secured debtholders in the event of default.

Beacon will use the proceeds, with the other recently issued senior
secured debt and new sponsor equity, to refinance its capital
structure.

S&P said, "All our other ratings on Beacon are unchanged, including
the 'B' issuer credit rating. Our stable outlook reflects our
expectation that Beacon's credit metrics will modestly improve from
levels at transaction close near the end of fiscal 2025 (ending
June 30, 2025), supported by steady contract renewals and modestly
higher margins that should underpin growth in earnings and cash
flow through fiscal 2026."



BEELINE HOLDINGS: Sells 298K Shares for $250K Under ELOC Deal
-------------------------------------------------------------
Beeline Holdings, Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that on June 3, 2025,
the Company sold a total of 297,619 shares of common stock for
total gross proceeds of $250,000 under that certain Amended and
Restated Common Stock Purchase Agreement and related Amended and
Restated Registration Rights Agreement dated March 7, 2025,
(collectively, the "ELOC Agreement"), which ELOC Agreement was
previously disclosed on the Company's Current Report on Form 8-K
filed on March 10, 2025. The sales were made pursuant to the
Company's registration statement on Form S-3 (File No 333-284723)
and a prospectus supplement filed thereunder dated March 26, 2025.

                    About Beeline Holdings

Beeline Financial Holdings, Inc. is a trailblazing mortgage fintech
transforming the way people access property financing. Through its
fully digital, Al-powered platform, Beeline delivers a faster,
smarter path to home loans-whether for primary residences or
investment properties. Headquartered in Providence, Rhode Island,
Beeline is reshaping mortgage origination with speed, simplicity,
and transparency at its core. The company is a wholly owned
subsidiary of Beeline Holdings and also operates Beeline Labs, its
innovation arm focused on next-generation lending solutions.

Boca Raton, Florida-based Salberg & Company, P.A., the Company's
auditor since 2024, issued a "going concern" qualification in its
report dated April 15, 2025, attached to the Company's Annual
Report on Form 10-K for the year ended December 31, 2024, citing
that the Company has incurred recurring losses and negative cash
flows from operations since its inception, has a significant
working capital deficit, and is dependent on debt and equity
financing. These matters raise substantial doubt about the
Company's ability to continue as a going concern.

As of Dec. 31, 2024, the Company had $66.5 million in total assets,
$17.5 million in total liabilities, and a total stockholders'
equity of $49 million.



BIG STORM REAL ESTATE: Seeks Chapter 11 Bankruptcy in Florida
-------------------------------------------------------------
On June 16, 2025, Big Storm Real Estate LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Middle District of
Florida. According to court filing, the
Debtor reports $12,630,967 in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

           About Big Storm Real Estate LLC

Big Storm Real Estate LLC owns a property at 12707 49th Street N.
in Clearwater, Florida, valued at $6.5 million based on a CBRE
appraisal dated May 24, 2023.

Big Storm Real Estate LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04024) on June
16, 2025. In its petition, the Debtor reports total assets of
$6,500,000 and total liabilities of $12,630,967.

Honorable Bankruptcy Judge Roberta A. Colton handles the case.

The Debtors are represented by Jake C. Blanchard, Esq. at BLANCHARD
LAW, P.A.


BINGO GROUP: Cliffwater Corporate Marks $585,000 Loan at 98% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $585,000
loan extended to Bingo Group Buyer, Inc. to market at $267,319or 2%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Bingo Group Buyer,
Inc. The loan accrues interest at a rate of 9.30% per annum. The
loan matures on July 10, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

      About Bingo Group Buyer, Inc.

Bingo Group Buyer Inc. is an investment holding company, engaged
in providing investment services.


BIO-KEY INTERNATIONAL: Streeterville Capital Holds 3.6% Stake
-------------------------------------------------------------
Streeterville Capital LLC, Streeterville Management LLC, and John
M. Fife, disclosed in a Schedule 13G (Amendment No. 1) filed with
the U.S. Securities and Exchange Commission that as of June 10,
2025, they beneficially owned 239,034 shares of BIO-key
International Inc.'s common stock, par value $0.0001 per share,
representing 3.6% of the class.

The shares are directly held by Streeterville Capital LLC and
indirectly beneficially owned by Streeterville Management LLC and
John M. Fife.

Streeterville may be reached through:

     John Fife, President
     303 East Wacker Drive, Suite 1040
     Chicago, IL 60601
     Tel: 312-297-7000

A full-text copy of Streeterville Capital's SEC report is available
at:

                  https://tinyurl.com/mseyjyps

                          About BIO-key

Holmdel, N.J.-based BIO-key International, Inc., founded in 1993,
is revolutionizing authentication and cybersecurity with
biometric-centric, multi-factor identity and access management
(IAM) software securing access for over forty million users.
BIO-key allows customers to choose the right authentication factors
for diverse use cases, including phoneless, tokenless, and
passwordless biometric options. Its hosted or on-premise
PortalGuard IAM solution provides cost-effective, easy-to-deploy,
convenient, and secure access to computers, information,
applications, and high-value transactions.

Henderson, Nev.-based Bush & Associates CPA LLC, the Company's
auditor since 2024, issued a "going concern" qualification in its
report dated April 23, 2025, attached to the Company's Annual
Report on Form 10-K for the year ended December 31, 2024, citing
that the Company has suffered substantial net losses and negative
cash flows from operations in recent years and is dependent on debt
and equity financing to fund its operations, all of which raise
substantial doubt about the Company's ability to continue as a
going concern.


BLUE DUCK: Files Emergency Bid to Use Cash Collateral
-----------------------------------------------------
Blue Duck Energy MVR, LLC asked the U.S. Bankruptcy Court for the
Northern District of Texas, Amarillo Division, for authority to use
cash collateral.

The Debtor owns and operates various oil and gas interests in
Roberts County, Texas, and needs to use continued access to cash to
maintain its operations and preserve the value of its estate.

MBP Roberts County, LLC asserts a first-priority lien on the
Debtor's assets and proceeds, though the Debtor disputes whether
MBPRC has a perfected interest in its bank accounts, given the
absence of a deposit account control agreement. As of the petition
date, the Debtor held $483,242 in cash, which had increased to
$628,496.

The Debtor requested authority to use this cash collateral and
proposed adequate protection measures for MBPRC, including a
requirement that the Debtor maintains a minimum cash balance equal
to the amount on hand at the petition date. The motion argued that
this use of cash is a sound business decision and necessary to
prevent harm to the estate, such as potential forfeiture of
leasehold interests due to nonpayment of royalties. It cited
relevant sections of the Bankruptcy Code, including sections 105,
363(b), and 363(c), and case law establishing that continued
operation to preserve collateral value can constitute adequate
protection for secured creditors.

                    About Blue Duck Energy MVR

Blue Duck Energy MVR, LLC operates in the oil and gas extraction
industry in Texas.

Blue Duck Energy MVR sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-20131)
on June 2, 2025. In its petition, the Debtor reported between $1
million and $10 million in assets and liabilities.

Thomas D. Berghman, Esq., at Munsch Hardt Kopf & Harr, P.C. is the
Debtor's legal counsel.

MBP Roberts County, LLC, as secured creditor, is represented by:

   Kenneth Stohner, Jr., Esq.
   Jackson Walker, LLP
   2323 Ross Avenue, Suite 600
   Dallas, TX 75201
   Phone: (214) 953-6000
   Fax: (214) 661-6803
   kstohner@jw.com


CARAWAY TEA: Gets Court OK to Use Cash Collateral
-------------------------------------------------
Caraway Tea Company, LLC got the green light from the U.S.
Bankruptcy Court for the Southern District of New York to use cash
collateral.

At the hearing held on June 12, the court granted the Debtor's
motion to use cash collateral and set a further hearing on the
motion for July 15.

The Debtor needs to use its cash collateral, which includes revenue
to pay expenses in order to continue its business operations.

The Debtor projects approximately $271,000 in gross revenue for the
first 30 days post-petition, with a gross monthly profit of $12,299
(before taxes and depreciation).

Several creditors, including M&T Bank, Wallkill Valley Federal
Savings & Loan Association, TD Bank, Fundbox, Rapid Funding, First
Citizens and the U.S. Small Business Administration, claim liens on
the Debtor's accounts. The Debtor acknowledges these claims but
does not admit their validity and reserves the right to challenge
them.

The Debtor argued that Fundbox's lien became unperfected due to its
failure to file a continuation statement and intends to initiate an
adversary proceeding to avoid it under 11 U.S.C. section 544.

                   About Caraway Tea Company LLC

Caraway Tea Company, LLC is a U.S.-based private label tea
manufacturer and co-packer that supplies specialty teas,
supplements, and wholesale tea products. With over 20 years of
experience, the Company sources from global tea-growing regions
including China, India, Sri Lanka, and Japan, partnering directly
with artisan growers using organic and sustainable practices.
Caraway offers customized co-packing services across retail,
foodservice, and e-commerce sectors, supported by in-house blending
and manufacturing capabilities.

Caraway Tea Company filed Chapter 11 petition (Bankr. S.D. N.Y.
Case No. 25-35620) on June 9, 2025, listing up to $500,000 in
assets and up to $10 million in liabilities. Gina Caraway, chief
executive officer of Caraway Tea Company, signed the petition.

Judge Kyu Young Paek oversees the case.

Michael D. Pinsky, Esq., at the Law Office of Michael D. Pinsky,
P.C., is the Debtor's bankruptcy counsel.

Secured creditor Wallkill Valley Federal Savings & Loan Association
is represented by:

   Kevin F. Preston, Esq.
   MacVean, Lewis, Sherwin & McDermott, PC
   34 Grove St., P.O. Box 310
   Middletown, NY 10940
   Phone: 845-343-3000
   Fax: 845-343-3866
   info@mlsmlaw.com
   kfpreston@mlsmlaw.com


CARDS ACQUISITION: Cliffwater Corporate Marks $5.5M Loan at 89% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,583,456
loan extended to Cards Acquisition, Inc. to market at $632,792 or
11% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Cards Acquisition,
Inc. The loan accrues interest at a rate of 9.82% per annum. The
loan matures on August 12, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About Cards Acquisition, Inc.

Cards Acquisition Inc. is a Delaware corporation that is an
indirect, wholly owned subsidiary of Cards Parent LP, a privately
owned waste services provider.


CARDS ACQUISITION: Cliffwater Marks $490,000 Loan at 75% Off
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $490,460
loan extended to Cards Acquisition, Inc. to market at $120,524 or
25% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Cards Acquisition,
Inc. The loan accrues interest at a rate of 0.50% per annum. The
loan matures on August 12, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Cards Acquisition, Inc.

Cards Acquisition Inc. is a Delaware corporation that is an
indirect, wholly owned subsidiary of Cards Parent LP, a privately
owned waste services provider.


CASA GARCIA: Unsecureds Will Get 100% of Claims over 60 Months
--------------------------------------------------------------
Casa Garcia's Co. submitted an Amended Plan of Reorganization for
Small Business dated June 5, 2025.

This Plan of Reorganization proposes to pay creditors of the Debtor
from cash flow from operations and future income of the Mexican
restaurant located at Riverwalk Plaza, South Charleston, West
Virginia.

This Plan provides for one class of priority unsecured claims and
one class of general unsecured claims. Unsecured creditors holding
allowed claims will receive distributions, which the proponent of
this Plan has valued at $.40 on the dollar.

This Plan also provides for the payment of administrative and
priority claims to the extent permitted by the Code in 60
installments.

Class III(b) consists of Unsecured Creditors. Unsecured general
claims will be paid a total of 100% of their claim over 60 months
without interest payable in equal quarterly payments.

The projections are for a new location and although the rent is
lower these projections assume similar business which may be overly
optimistic. If the projections are close to being accurate all
creditors can be paid over 60 months instead of the projected 30
months.

The Debtor will commence making its payments under the Plan on the
first day of the calendar month that follows the effective date of
the Plan. It will fund the Plan payments from its income made in
the ordinary course of its business.

A full-text copy of the Amended Plan dated June 5, 2025 is
available at https://urlcurt.com/u?l=TvhN5Z from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     William W. Pepper, Esq.
     Andrew S. Nason, Esq.
     Emmett Pepper, Esq.
     Pepper and Nason
     8 Hale Street
     Charleston, WV 25301
     Tel: (304) 346-0361
     Fax: (304) 346-1054
     Email: info@PepperNason.com

                       About Casa Garcia's Co.

Casa Garcia's Co. is a restaurant operator located at Riverwalk
Plaza in South Charleston, West Virginia.

Casa Garcia's Co. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.W. Va. Case No. 25-20007) on January
20, 2025. In its petition, the Debtor reports estimated assets
between $50,000 and $100,000 and estimated liabilities between
$100,000 and $500,000.

The Debtor is represented by Andrew S. Nason, Esq., at Pepper &
Nason.


CIBUS INC: Inks Agreements for Public Offering of 15.7M Shares
--------------------------------------------------------------
Cibus Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that in connection with a
SEC-registered public offering of 15,714,285 shares of the Class A
Common Stock, $0.0001 par value per share of the Company, on June
5, 2025, the Company entered into Securities Purchase Agreements
with certain outside investors as well as the Chairman of the
Company's Board of Directors.

The Purchase Agreements contain customary representations and
warranties and agreements of the Company and the Purchasers and
customary indemnification rights and obligations of the parties.
Pursuant to the Purchase Agreements and subject to exceptions, the
Company has agreed to certain restrictions on the issuance and sale
of its Class A Common Stock or Common Stock Equivalents (as defined
in the Purchase Agreements) during the 60-day period following the
closing of the Offering. In addition, each of the Company's
executive officers and directors has agreed, subject to certain
exceptions, not to dispose of or hedge any shares of Class A Common
Stock or securities convertible into or exchangeable for shares of
Class A Common Stock during the 60-day period following the closing
of the Offering.

The Shares were offered by the Company pursuant to a registration
statement on Form S-3 (File No. 333-273062), which was filed with
the Securities and Exchange Commission on June 30, 2023, amended on
October 25, 2023 and was declared effective by the Commission on
October 27, 2023. The preliminary prospectus related to the
Offering was filed with the Commission on June 4, 2025 and the
final prospectus supplement related to the Offering was filed with
the Commission on June 6, 2025.

The Offering closed with respect to certain Purchasers on June 6,
2025. The Company currently intends to use the net proceeds from
the Offering to fund further development of weed management traits
in Rice and for working capital and general corporate purposes,
including the payment of professional expenses for financial
advisory services, as it pursues longer term financing.

Full-text copy of the Form of the Purchase Agreement is available
at https://tinyurl.com/53hchxt7

On June 5, 2025, the Company entered into a placement agency
agreement with A.G.P./Alliance Global Partners, as the sole
placement agent in connection with the Offering. The Offering was
conducted on a reasonable "best efforts" basis.

The Company agreed to pay the Placement Agent a fee in cash equal
to:

     (i) 7% of the aggregate proceeds from the sale of the Shares
to certain Purchasers and
    (ii) 2% of the aggregate proceeds from the sale of the Shares
to certain other Purchasers.

The Company will not pay a fee to the Placement Agent in connection
with the Shares sold to the Board Chairman. The Company also agreed
to reimburse the Placement Agent for all reasonable and documented
out-of-pocket expenses, including the accountable fees of counsel,
not to exceed $100,000. The Placement Agency Agreement contains
customary representations, warranties, indemnification and other
provisions customary for transactions of this nature.

A copy of the Placement Agency Agreement is available
https://tinyurl.com/3k9d8wpp

                              About Cibus

Cibus Inc. is an agricultural biotechnology company based in San
Diego, California. It develops genetic traits for major food crops
using its proprietary gene-editing platform, the Rapid Trait
Development System. The Company's technology aims to improve crop
productivity and resilience by addressing challenges such as pests,
diseases, and environmental stressors.

San Diego, Calif.-based BDO USA, P.C., the Company's auditor since
2023, issued a "going concern" qualification in its report dated
March 20, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31,2024. The report highlights
that the Company has suffered recurring losses from operations and
negative cash flows from operations that raise substantial doubt
about its ability to continue as a going concern.

The Company has incurred net losses since its inception. As of Dec.
31, 2024, the Company had an accumulated deficit of $731.2 million.
The Company's net loss was $282.7 million for the year ended Dec.
31, 2024. Cibus anticipates continuing to incur substantial
expenses and operating losses over the next several years, as it
advances the development of its productivity trait pipeline and
maintains limited commercial operations. Those expenses and losses
may fluctuate significantly from quarter-to-quarter and
year-to-year.


CIBUS INC: Rory Riggs Holds 33.02% of Class A Shares as of Sept. 18
-------------------------------------------------------------------
Rory B. Riggs disclosed in a Schedule 13D (Amendment No. 1) filed
with the U.S. Securities and Exchange Commission that as of
September 18, 2024, he beneficially owned an aggregate of
18,726,128 shares of Cibus, Inc.'s Class A Common Stock, $0.0001
par value per share, representing 33.02% of the 56,712,351 shares
outstanding. This total includes:

     * 14,530,385 shares of Class A Common Stock held directly,
which includes:
     * 4,050,000 shares issuable upon the exercise of the Reporting
Person's 2023 and 2025 Pre-Funded Warrants;
     * 47,521 restricted shares issued under the Cibus, Inc. 2017
Omnibus Incentive Plan, which remain subject to vesting;
     * 23,807 shares held indirectly through the Rory Riggs Family
Trust;
     * Up to 4,098,040 shares issuable upon exercise of 2024 and
2025 Common Warrants, each with an exercise price of $2.50 per
share;

Additionally, 5,401 shares are jointly held with a sibling, and
20,974 shares are held by his spouse, for which Mr. Riggs shares
voting and dispositive power.

The 33.02% ownership is calculated based on 56,712,351 total shares
outstanding, which includes:

     * 32,672,181 shares of Class A Common Stock outstanding as of
May 7, 2025;
     * 177,845 restricted shares subject to vesting;
     * 4,050,000 shares issuable from Mr. Riggs' pre-funded
warrants;
     * 15,714,285 shares issued in the issuer's public offering;
and
     * 4,098,040 shares issuable upon exercise of the 2024 and/or
2025 Common Warrants.

Rory B. Riggs may be reached through:

     c/o Cibus, Inc., 6455 Nancy Ridge Drive
     San Diego, CA, 92121
     Tel: 1-858-450-0008

A full-text copy of Altium Capital's SEC report is available at:

                  https://tinyurl.com/45bhcs6t

                              About Cibus

Cibus Inc. is an agricultural biotechnology company based in San
Diego, California. It develops genetic traits for major food crops
using its proprietary gene-editing platform, the Rapid Trait
Development System. The Company's technology aims to improve crop
productivity and resilience by addressing challenges such as pests,
diseases, and environmental stressors.

San Diego, Calif.-based BDO USA, P.C., the Company's auditor since
2023, issued a "going concern" qualification in its report dated
March 20, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31,2024. The report highlights
that the Company has suffered recurring losses from operations and
negative cash flows from operations that raise substantial doubt
about its ability to continue as a going concern.

The Company has incurred net losses since its inception. As of Dec.
31, 2024, the Company had an accumulated deficit of $731.2 million.
The Company's net loss was $282.7 million for the year ended Dec.
31, 2024. Cibus anticipates continuing to incur substantial
expenses and operating losses over the next several years, as it
advances the development of its productivity trait pipeline and
maintains limited commercial operations. Those expenses and losses
may fluctuate significantly from quarter-to-quarter and
year-to-year.


CIMG INC: Closes $1.07M Sale of Common Shares to Non-U.S. Investors
-------------------------------------------------------------------
As previously disclosed in the Current Report on Form 8-K filed by
CIMG Inc. with the SEC on June 5, 2025, on June 2, 2025, CIMG Inc.
entered into a share purchase agreement with certain non-U.S.
investors, providing for the private placement of 6,000,000 shares
of common stock, par value $0.00001 per share of the Company in the
aggregate principal amount of $1,068,480, at a purchase price of
$0.17808 per share, in reliance on the registration exemptions of
Regulation S of the Securities Act of 1933.

On June 2, 2025, in connection with the Share Purchase Agreement,
the Company entered into a Registration Rights Agreement with the
Investors. The Company shall prepare and, as soon as practicable,
in no event later than August 8, 2025 file with the Commission a
registration statement on Form S-1 covering the resale of all of
the registrable securities sold pursuant to the Share Purchase
Agreement.

The closing of the sale of the 6,000,000 Shares occurred on June 9,
2025.

Pursuant to the Share Purchase Agreement, the Company issued
6,000,000 shares of common stock to the non-U.S. investors,
following receipt of the respective purchase amounts. Upon the
completion of the foregoing, the sale of the Shares, for the
aggregate consideration amount of $1,068,480, pursuant to the Share
Purchase Agreement, has been duly consummated. Immediately
following the closing of the Share Purchase Agreement, the Company
has a total of 36,397,418 shares of Common Stock issued and
outstanding.

                          About CIMG Inc.

Headquartered in Vista, California, CIMG Inc. (formerly Nuzee,
Inc.) is a digital marketing, sales and distribution company for
various consumer products with focuses on food and beverages.
Dedicated to reshaping the digital marketing and distribution with
technological applications, the Company endeavors to create greater
commercial value for its business partners and therefore enhance
its own enterprise value and shareholders' value of their stake in
the Company. The Company has a professional brand and marketing
management system, which can quickly help partnering enterprises
achieve the connection, management, and operation of marketing
channels domestically and globally.

The Company has had limited revenues, recurring losses and an
accumulated deficit. These items raise substantial doubt as to the
Company's ability to continue as a going concern, according to the
Company's Quarterly Report for the period ended June 30, 2024.

The Company has not yet filed its Form 10-K for the fiscal year
ended Sept. 30, 2023.


CIMG INC: Xiangrong Dai Holds 8.25% Equity Stake
------------------------------------------------
Xiangrong Dai, disclosed in a Schedule 13G (Amendment No. 4) filed
with the U.S. Securities and Exchange Commission that as of June 9,
2025, he beneficially owned 3,000,000 shares of CIMG Inc.'s common
stock, par value $0.00001 per share, representing 8.25% of the
30,397,418 shares of common stock issued and outstanding as of June
5, 2025, as reported in the Company's Form 8-K filed with the
Securities and Exchange Commission on that date; and 6,000,000
additional shares to be issued pursuant to the share purchase
agreement entered into on June 2, 2025, as also disclosed in the
Company's current report on Form 8-K filed on June 5, 2025.

Following the closing of the share purchase agreement, the Company
will have 36,397,418 shares of common stock issued and
outstanding.
Xiangrong Dai may be reached at:

Xiangrong Dai
4-104, JingJiLuFu, Changping District
Beijing, China F4 102200

A full-text copy of Mr. Xiangrong Dai's SEC report is available
at:

                  https://tinyurl.com/2w9r583v

                          About CIMG Inc.

Headquartered in Vista, California, CIMG Inc. (formerly Nuzee,
Inc.) is a digital marketing, sales and distribution company for
various consumer products with focuses on food and beverages.
Dedicated to reshaping the digital marketing and distribution with
technological applications, the Company endeavors to create greater
commercial value for its business partners and therefore enhance
its own enterprise value and shareholders' value of their stake in
the Company. The Company has a professional brand and marketing
management system, which can quickly help partnering enterprises
achieve the connection, management, and operation of marketing
channels domestically and globally.

The Company has had limited revenues, recurring losses and an
accumulated deficit. These items raise substantial doubt as to the
Company's ability to continue as a going concern, according to the
Company's Quarterly Report for the period ended June 30, 2024.

The Company has not yet filed its Form 10-K for the fiscal year
ended Sept. 30, 2023.


COBALT SERVICE: Cliffwater Corporate Marks $26.4MM Loan at 78% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$26,470,587 loan extended to Cobalt Service Partners, LLC to market
at $5,916,905 or 22% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayaed Draw Loan to Cobalt Service
Partners, LLC. The loan accrues interest at a rate of 9.05% per
annum. The loan matures on October 11, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Cobalt Service Partners, LLC

Cobalt Service Partners, LLC buys and builds leading access
solutions businesses and partners with market leading commercial
access and security businesses across the country.



COMMUNITY MANAGEMENT: Cliffwater Marks $1.1MM Loan at 74% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,125,000
loan extended to Community Management Holdings Midco 2, LLC to
market at $297,487 or 26% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Community Management
Holdings Midco 2, LLC. The loan accrues interest at a rate of 9.29%
per annum. The loan matures on November 1, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

             About Community Management Holdings Midco 2, LLC

Community Management Holdings Midco 2, LLC is engaged in providing
secure, cost-effective, and easily accessible housing solutions.


CPI HOLDCO B: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable
---------------------------------------------------------------
Moody's Ratings affirmed CPI Holdco B, LLC's (CPI) Ba3 corporate
family rating and Ba3 senior secured first lien bank credit
facility ratings following its proposed $500 million senior secured
term loan B fungible add-on. CPI's outlook remains stable.

The net proceeds from this transaction of around $500 million, will
be used primarily to fund signed and future acquisitions, and cover
related expenses.

RATINGS RATIONALE

The ratings affirmation reflects the modest impact of the proposed
transaction on CPI's debt leverage and interest coverage as well as
Moody's expectations of continued solid performance. CPI is the
holding company of Creative Planning, a national US wealth manager.
Its financial performance has benefited from an inorganic strategy
and partnerships that have driven EBITDA growth, which Moody's
expects will help provide it with capacity to reduce leverage
following this transaction. Pro-forma the debt issuance and related
acquisitions, CPI's debt/EBITDA leverage ratio (Moody's
Ratings-adjusted) will worsen to around 4.9x, from 4.5x for the 12
months ending March 31, 2025. Additionally, Moody's expects its
pro-forma EBITDA/interest expense ratio to worsen to around 3.5x
from 5x.

Despite the increased debt burden, Moody's expects the company to
remain profitable and generate sufficient cash flow to support its
growth strategy. Unlike certain wealth management peers, CPI's
business model has historically relied less on frequent large-scale
debt-funded acquisitions, although it continues to be opportunistic
in this regard. Moody's expects that CPI's expanding custodial
referral relationships and the earnings contributions from new
businesses will drive continued EBITDA growth, providing the
company capacity to reduce leverage after the transaction.

CPI's Ba3 CFR is bolstered by its profitable business model, strong
organic growth of client assets, and a stable, productive network
of advisors and financial professionals. However, these strengths
are balanced by the company's elevated leverage, concentrated
ownership, and the sensitivity of its earnings to broad financial
market levels.

The stable outlook reflects Moody's expectations that CPI will
continue to expand its scale while maintaining profitability and
debt leverage within levels consistent with its current rating
profile.

The Ba3 ratings on CPIs senior secured revolving credit facility
and senior secured term loan are in-line with the CFR because these
instruments represent CPI's sole debt class and rank equally.

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

CPI's ratings could be upgraded if 1) it further diversifies its
revenues while retaining similar or lower levels of risk; 2) there
is continued improvement in the company's scale and competitive
position, resulting in a sustained increase in pretax earnings and
pretax margins above 20%, with low levels of margin volatility; 3)
Moody's- Ratings adjusted debt leverage is sustained below 4.0x.

CPI's ratings could be downgraded if 1) there is a shift in
financial policy that significantly increases debt to fund partner
distributions or to help fund a substantial acquisition, driving
Moody's Ratings-adjusted debt leverage above 5.5x; or 2) a retained
cash flow to debt ratio below 7% on a sustained basis, especially
if not accompanied by a coherent near-term deleveraging strategy;
or 3) there is a meaningful decline in scale such that annual
pretax earnings are sustained below $100 million, or the company is
unable to navigate adverse operating environments and stabilize
margins; or there is a significant failure in regulatory
compliance, technology infrastructure, or other operational failure
that tarnishes the company's reputation.

The principal methodology used in these ratings was Securities
Industry Service Providers published in February 2024.

CPI's "Assigned standalone Assessment" score of Ba3 is set three
notches below the "Financial Profile" initial score of Baa3 to
reflect the firm's planned debt issuance that will lead to weaker
debt leverage and interest coverage.


CQENS TECHNOLOGIES: Signs $2.78M Montrade Deal for Tobacco Module
-----------------------------------------------------------------
CQENS Technologies Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that the Company
entered into a manufacturing contract with Montrade S.p.A., a
company based in Bologna, Italy, for Montrade to manufacture and
install a module for the automated manufacture of tobacco
consumables for the Company's proprietary, patented and patent
pending Heat-not-Burn system. The system heats plant-based and/or
medicant-infused formulations to produce aerosols for the
inhalation of the plant and medicant constituents without
combustion or the constituents of combustion, although there are no
assurances the Company's products can be commercialized.

The Company made an initial payment of approximately $1,017,000 USD
and is required to make additional payments of up to approximately
$1,765,000 USD for the tobacco module as certain stages are
completed. The Company expects this module, designed to manufacture
tobacco consumables at 300 per minute, to be completed by the third
quarter of 2026. The Company previously contracted with Montrade to
deliver an initial 100 per minute module under a purchase agreement
dated July 13, 2022, as amended. This module is expected to be
completed early in the third quarter of 2025.

                   About CQENS Technologies Inc.

CQENS Technologies Inc. is a technology company that designs and
develops innovative methods to heat plant-based and/or
medicant-infused formulations to produce aerosols for the efficient
and efficacious inhalation of the plant and medicant constituents
contained therein.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2013, issued a "going concern" qualification in its report dated
March 31, 2025, attached to the Company's Annual Report on Form
10-K for the year ended Dec. 31, 202, citing that the Company has
suffered recurring losses from operations and has a net capital
deficiency that raises substantial doubt about its ability to
continue as a going concern.

As of Dec. 31, 2024, the Company had $7,432,268 in total assets,
$3,129,718 in total liabilities, and a total stockholders' equity
of $4,302,550.


CRCI LONGHORN: Cliffwater Corporate Marks $17.5MM Loan at 28% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$17,502,438 loan extended to CRCI Longhorn Holdings, Inc. to market
at $12,617,370 or 72% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to CRCI Longhorn
Holdings, Inc. The loan accrues interest at a rate of 9.32% per
annum. The loan matures on August 27, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About CRCI Longhorn Holdings, Inc.

CRCI Longhorn Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries, provides industrial maintenance
services.


DA BLOCKER: Cliffwater Corporate Marks $2.4 Million Loan at 71% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,426,062
loan extended to DA Blocker Corp. to market at $703,557 or 29% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to DA Blocker Corp. The
loan accrues interest at a rate of 9.05% per annum. The loan
matures on February 10, 2032.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About DA Blocker Corp.

DA Blocker Corp. is a provider of advanced electronics and
high-technology solutions and products. It serves industrial,
defence and aerospace customers on a global scale.


DB BOONEVILLE: Seeks to Hire Hogan and Hansen PC as Accountant
--------------------------------------------------------------
DB Booneville Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Iowa to hire Hogan and Hansen, PC as
general reorganization accountants.

The Debtor requires the services of Hogan and Hansen to render
professional services in connection with the preparation of
business balance sheets, income statements, related financial
documents, assisting the Debtor with Debtor's income tax
informational returns, related tax documents, and any and all other
related financial and accounting reports and required filings,
formulation and preparation of documents in connection with its
Plan of Reorganization, and to perform all other accounting
services for the Debtor as Debtor-in-Possession which may be
necessary in relation thereto.

Hogan and Hansen's services will be charged at a flat rate of
$2,500.

Hogan and Hansen is a "disinterested person" as that term is
defined in Bankruptcy Code Sec. 101(14), according to court
filings.

The firm can be reached through:

     Eric M. Hanna, CPA
     Hogan and Hansen, PC
     3128 Brockway Road
     Waterloo, IA 50701
     Phone: (319) 233-5225
     Fax: (319) 233-3188
     Email: w@hoganhansen.com

        About DB Booneville Inc.

DB Booneville Inc., also known as the Village at Sugar Creek, is a
real estate company based in Urbandale, Iowa. The Company operates
in property development and ownership, including residential
properties. It has been involved in various developments, such as
the Village at Sugar Creek, a mixed-use project offering
multifamily housing, retail, office spaces, and townhomes in West
Des Moines.

DB Booneville Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-00817) on May 13,
2025. In its petition, the Debtor reports estimated assets between
$1 million and $10 million and estimated liabilities between $10
million and $50 million.

Honorable Bankruptcy Judge Lee M. Jackwig handles the case.

The Debtors are represented by Samuel Z. Marks, Esq. at MARKS LAW
FIRM.


DB BOONEVILLE: Taps Marks Law Firm as Reorganization Counsel
------------------------------------------------------------
DB Booneville Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Iowa to hire Marks Law Firm as its
general reorganization counsel.

The firm will render these services:

     a. advise and assist the Debtor with respect to compliance
with the requirements of the United States Trustee;

     b. advise the Debtor regarding matters of Bankruptcy Law,
including the rights and remedies of the Debtor with regard to its
assets and with respect to the claims of creditors;

     c. represent the Debtor in any proceedings or hearings in the
Bankruptcy Court and in any action in any other court where the
Debtor’s rights under the Bankruptcy Code may be litigated or
affected;

     d. conduct examinations or witnesses, claimants or adverse
parties, and to prepare and assist in the preparation of reports,
accounts and pleadings related to this Chapter 11 case;

     e. advise the Debtor concerning the requirements of the
Bankruptcy Code and
applicable rules as the same affect the Debtor in this proceeding;

     f. assist the Debtor in the negotiation, formulation,
confirmation, and implementation of a Chapter 11 Plan;

     g. make any court appearances on behalf of the Debtor; and

     h. take such other action and perform such other services as
the Debtor may require of the firm in connection with the Chapter
11 case.

The firm will charge $350 per hour for attorney's fees and $150 per
hour for paralegals.

Marks Law Firm has received $10,000 in pre-petition funds.

Marks Law Firm is a disinterested person as that term is defined in
11 U.S.C. Sec. 101(14), according to court filings.

The firm can be reached through:

     Samuel Z. Marks, Esq.
     MARKS LAW FIRM, P.C.
     4225 University Avenue
     Des Moines, IA 50311
     Phone: (515) 276-7211
     Fax: (515) 276-6280

        About DB Booneville Inc.

DB Booneville Inc., also known as the Village at Sugar Creek, is a
real estate company based in Urbandale, Iowa. The Company operates
in property development and ownership, including residential
properties. It has been involved in various developments, such as
the Village at Sugar Creek, a mixed-use project offering
multifamily housing, retail, office spaces, and townhomes in West
Des Moines.

DB Booneville Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-00817) on May 13,
2025. In its petition, the Debtor reports estimated assets between
$1 million and $10 million and estimated liabilities between $10
million and $50 million.

Honorable Bankruptcy Judge Lee M. Jackwig handles the case.

The Debtors are represented by Samuel Z. Marks, Esq. at MARKS LAW
FIRM.


DENALI BUYERCO: Cliffwater Corporate Marks $15MM Loan at 80% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$15,000,000 loan extended to Denali Buyerco LLC to market at
$3,063,475 or 20% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Denali Buyerco
LLC. The loan accrues interest at a rate of 9.54% per annum. The
loan matures on January 29, 2032.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Denali Buyerco LLC

Denali Buyerco LLC is engaged in providing computer related
services and consulting.


DIONE BIDCO: Cliffwater Corporate Marks $11.7-Mil. Loan at 24% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$11,742,750 loan extended to Dione Bidco Limited to market at
$8,888,944 or 76% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Dione Bidco
Limited. The loan accrues interest at a rate of 9.59% per annum.
The loan matures on November 22, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

       About Dione Bidco Limited

Dione Bidco Limited is engaged in providing investment trusts and
related solutions and services.


DISA HOLDINGS: Cliffwater Corporate Marks $1.1MM Loan at 81% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,145,569
loan extended to DISA Holdings Corp. to market at $212,500 or 19%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to DISA Holdings Corp.
The loan accrues interest at a rate of 9.31% per annum. The loan
matures on September 9, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

        About DISA Holdings Corp.

Disa Holdings Corp. operates as a holding company. The Company,
through its subsidiaries, The Company is line of business includes
providing various business services. Disa Holdings serves customer
in the United States.



DISCOVER QUARTZ: Seeks Subchapter V Bankruptcy in Florida
---------------------------------------------------------
On June 15, 2025, Discover Quartz and Granite LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Middle District of
Florida. According to court filing, the Debtor reports $2,535,353
in debt owed to 50 and 99 creditors. The petition states funds
will not be available to unsecured creditors.

           About Discover Quartz and Granite LLC

Discover Quartz and Granite LLC fabricates and installs custom
countertops using quartz, granite, and natural stone. The Company
operates in Florida, with facilities in Ocala and Orlando, serving
residential and commercial clients.

Discover Quartz and Granite LLC sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-01983) on June 15, 2025. In its petition, the Debtor
reports total assets of $952,930 and total liabilities of
$2,535,353.

Honorable Bankruptcy Judge Jacob A. Brown handles the case.

The Debtors are represented by Bryan K. Mickler, Esq. at LAW
OFFICES OF MICKLER & MICKLER, LLP.


DISCOVER QUARTZ: To Sell Trailer to Sansby for $2,300
-----------------------------------------------------
Discover Quartz and Granite LLC seeks permission from the U.S.
Bankruptcy Court for the Middle District of Florida, Jacksonville
Division, to sell Property, subject to all liens, encumbrances, and
interests.

The Debtor's Property is the 2024 Triple Crown Trailer, VIN No.:
1XNBU1229R1143819 for $2,300.00.

The Debtor is a Florida limited liability company, wholly owned and
managed by Angelica De Souza and Fernando Maggioni.

De Souza formed the Debtor on in July of 2013. De Souza planned for
the Debtor to operate a granite and counter business in the Central
and North Florida area.

The Debtor has operated the granite and counter business
continuously since July of 2013.

The Debtor obtained a blanket Small Business Administration secured
loan and several secured loans, as well as other unsecured debt
over the course of the business operations for the past several
years. The Debtor filed its Chapter 11 petition as a result of the
inability to continue to service the debt related to the above
obligations.

On June 17, 2025, the Debtor entered into a Purchase and Sale
Agreement with Sansby LLC.

De Souza has approved the sale agreement to sell and transfer the
2024 Triple Crown Trailer, VIN No.: 1XNBU1229R1143819 for $2,300.00
to the Purchaser for a fee of $2,300.00.

There is currently no lien on the trailer.

The Debtor has determined that a sale of 2024 Triple Crown Trailer,
VIN No.: 1XNBU1229R1143819 to the Purchaser would result in an
efficient and cost-effective manner of disposing of the estate's
interest in the asset, while simultaneously creating a benefit to
the bankruptcy estate and customers of the Debtor.

           About Discover Quartz and Granite LLC

Discover Quartz and Granite LLC fabricates and installs custom
countertops using quartz, granite, and natural stone.  The Company
operates in Florida, with facilities in Ocala and Orlando, serving
residential and commercial clients.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D.Flo. Case No.: 25-01983) on June 15,
2025. In a petition that was signed by Angelica De Souza as
manager, the Debtor discloses total assets of $952,930 and total
liabilities of $2,535,353.

Judge Jacob A Brown presides over the case.

Bryan K. Mickler represents the Debtor as legal counsel.


DOG ROBBER: Gets Interim OK to Use Cash Collateral
--------------------------------------------------
Dog Robber, Inc. got the green light from the U.S. Bankruptcy Court
for the Central District of California, Los Angeles Division, to
use cash collateral.

The court's order approved the Debtor's interim use of cash
collateral consisting of rents and accounts receivable, which are
held by secured creditors.

The secured creditors include Restaurant Refrigeration Rentals, US
Foods, the U.S. Small Business Administration, Employment
Development Department, Kapitus, and Newco Capital Group. The
Debtor is unaware of any other parties with a claim on its cash
collateral.

As protection for the Debtor's use of their cash collateral, the
secured creditors will be granted replacement liens, with the same
validity, priority and amount as their pre-bankruptcy liens. The
Debtor will also keep the secured creditors' collateral insured as
further protection.

The next hearing will be held on July 8.

The Debtor filed for bankruptcy to address pre-bankruptcy lawsuits
and claims, including those from merchant cash advance (MCA)
lenders who had previously taken funds from the Debtor's operating
accounts, causing cash flow issues. Additionally, the Debtor faced
significant tax debts that threatened the suspension of its liquor
license.

The automatic stay under bankruptcy law is meant to prevent the MCA
lenders from continuing to take funds, thus allowing the Debtor to
maintain business operations and protect its liquor license. Until
the validity of the MCA liens is resolved through adversary
proceedings, the Debtor said it needs to use cash collateral to
cover necessary operating expenses, such as paying employees,
suppliers, and other third-party service providers.

The Debtor's goal is to stabilize and reorganize its business,
resolving the MCA claims and restructuring operations to improve
profitability. It operates five restaurant locations in Orange and
Los Angeles Counties, specializing in breakfast and brunch. The
bankruptcy filing was primarily triggered by the use of MCA
lenders, who disguised their loans as accounts receivable purchases
with UCC liens and hindered the Debtor's cash flow, and by tax
debts that endangered the Debtor's liquor license.

                    About Dog Robber Inc.

Dog Robber Inc. is a Whittier, California-based restaurant group
founded in 2016 that operates several brunch and cafe concepts --
including Toast Kitchen and Bar, Toast Whittier, Toast Coffee Tea
and Juice, The Dylan, and The Benediction -- and was recognized on
the Inc. 5000 list in both 2022 and 2023.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-14827) on June 6,
2025. In the petition signed by Chad Reinhardt, president, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Neil W. Bason oversees the case.

Richard Sturdevant, Esq. at FINANCIAL RELIEF LAW CENTER, APC,
represents the Debtor as legal counsel.




DOLCHE TRUCKLOAD: Seeks Chapter 11 Bankruptcy in Illinois
---------------------------------------------------------
On June 15, 2025, Dolche Truckload Corp. filed Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Illinois. According to court filing, the
Debtor reports $3,410,448 in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

           About Dolche Truckload Corp.

Dolche Truckload Corp. provides full truckload transportation
services across the United States, including refrigerated, dry van,
and hazardous materials freight. The Company operates a fleet of
trucks and offers tailored logistics solutions from its
headquarters in Palatine, Illinois.

Dolche Truckload Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09093) on June 15,
2025. In its petition, the Debtor reports total assets of
$1,944,419 and total liabilities of $3,410,448.

Honorable Bankruptcy Judge Deborah L. Thorne handles the case.

The Debtors are represented by David Freydin, Esq. at LAW OFFICES
OF DAVID FREYDIN.


DOVE CHARTER: S&P Assigns 'BB+' ICR, Outlook Stable
---------------------------------------------------
S&P Global Ratings assigned its 'BB+' issuer credit rating to Dove
Charter Public School Foundation Inc. (Dove Foundation), Okla.

The outlook is stable.

S&P said, "We view physical risks as elevated given the network's
location in "Tornado Alley;" the school maintains insurance
coverage in the event of facility damage, and we believe that this
provides some offset. We also note limitations with the network's
financial reporting and disclosure, a governance risk. While the
individual school financial results are reflected on a modified
cash basis, conforming with standards permitted by the Oklahoma
State Department of Education, they do not conform with U.S.
Generally Accepted Accounting Principles, resulting in an adverse
opinion in the school's audits. In addition, the schools do not
conform with the Oklahoma State Department of Education's
requirement to include a management discussion and analysis with
its financial statements or include general fixed assets, resulting
in a qualified opinion on a regulatory basis of accounting in its
financial statements.

"The stable outlook reflects our expectation that enrollment will
continue to grow, as projected, and that the network will maintain
its overall financial profile, with at least a stable liquidity
position, as measured by days' cash on hand, and acceptable
lease-adjusted maximum annual debt service (MADS) coverage for the
rating, with positive financial performance. The stable outlook
also reflects our expectation that management will prudently manage
the debt profile, addressing the upcoming bullet maturities, as
they come due.

"We could consider a negative rating action if the network fails to
meet enrollment growth targets, resulting in weakened margins and
lease-adjusted MADS coverage or a deteriorated reserve position.
Significant additional debt or inability to refinance bullet
payments as they come due could also be viewed negatively.

"We could consider a positive rating action over time if the school
successfully executes on its expansion plans while maintaining
other enterprise profile characteristics and strengthening its
financial profile through an increasing liquidity position,
maintenance of healthy financial performance and lease-adjusted
MADS coverage commensurate with a higher rating, and moderation of
debt."



DOWNTOWN UTICA: Seeks Chapter 11 Bankruptcy in New York
-------------------------------------------------------
On June 16, 2025, Downtown Utica Development LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of New York. According to court filing, the
Debtor reports between $1 million and $10 million in debt owed
to 1 and 49 creditors. The petition states funds will be available
to unsecured creditors.

           About Downtown Utica Development LLC

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

Downtown Utica Development LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-60539) on
June 16, 2025. In its petition, the Debtor reports estimated
assets up to $50,000 and estimated liabilities between $1 million
and $10 million.

The Debtors are represented by Scott J. Bogucki, Esq. at
GLEICHENHAUS, MARCHESE & WEISHAAR, P.C.


DRAKSIN PROPERTIES: Unsecureds to Get 0.05 Cents on Dollar in Plan
------------------------------------------------------------------
Draksin Properties, Inc. filed with the U.S. Bankruptcy Court for
the Northern District of New York a Plan of Reorganization for
Small Business dated June 5, 2025.

The Debtor is a corporation. Since 2016, the Debtor has been in the
business of real property rentals. Debtor's business is run by
George Draksin.

Beginning in 2017, Debtor took out a series of mortgages with
Generations Bank, secured by various parcels of real property.
During the Covid pandemic, Debtor was unable to collect consistent
rents from its tenants, and was legally prohibited from evicting
non-paying tenants.

As a result, Debtor became unable to pay its ongoing obligations to
Generation Bank. Debtor and the Bank entered into some forbearance
agreements, but Debtor was unable to keep up on its monthly
mortgage payments. Generations Bank began foreclosure proceedings
against Debtor's properties, leading to Debtor's filing of this
Bankruptcy case.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income of $3,856.89. The final Plan
payment is expected to be paid on September 1, 2030.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately .05 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.

Class 6 consists of Non-priority unsecured creditors. Unsecured
creditors will receive a total of $13,863.82 which will be
distributed pro rata to all allowed unsecured claims. Debtor will
pay a total of $231.06 per month to be distributed to unsecured
creditors pro rata. It is anticipated that this will yield
approximately 0.05 cents on the dollar of all unsecured allowed
claims. This Class is impaired.

Class 7 consists of Equity security holders of the Debtor. Equity
interest holders shall receive 100% of the shareholder interests in
the reorganized Debtor.

The Plan will be implemented by the Debtor remitting payment to
creditors as provided for in Section 4.01 herein from the Debtor's
cash flow derived from income as indicated in the projections.

Upon Confirmation of the Plan, all property of the Debtor, tangible
and intangible, including, without limitation, licenses, furniture,
fixtures, and equipment, will revert free and clear of all Claims
and Equitable Interests except as provided in the Plan, to the
Debtor. The Debtor expects to have sufficient cash on hand to make
the payments required on the Effective Date.

A full-text copy of the Plan of Reorganization dated June 5, 2025
is available at https://urlcurt.com/u?l=W6UvSX from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Peter A. Orville, Esq.
     Orville & McDonald Law, P.C.
     30 Riverside Drive
     Binghamton, NY 13905
     Telephone: (607) 770-1007

          About Draksin Properties

Draksin Properties, Inc. has been in the business of real property
rentals since 2016.

The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. N.D.N.Y. Case No. 25-30159) on March 6, 2025, listing
up to $1 million in both assets and liabilities.

Judge Wendy A. Kinsella oversees the case.

Peter Alan Orville, Esq., at Orville & Mcdonald Law, PC is the
Debtor's legal counsel.

Generations Bank, as secured creditor, is represented by:

   Curtis A. Johnson, Esq.
   Bond, Schoeneck & King, PLLC
   350 Linden Oaks, Third Floor
   Rochester, New York 14625
   Tel: (585) 362-4812
   cjohnson@bsk.com


DYNASTY SONG: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Dynasty Song LLC
        260 San Marco Ave.
        San Bruno, CA 94066

Business Description: Dynasty Song LLC operates apartment
                      buildings in San Mateo County, California.
                      The Company is associated with a multifamily
                      residential property located at 260 San
                      Marco Avenue in San Bruno.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 25-30482

Debtor's Counsel: Arasto Farsad, Esq.
                  FARSAD LAW OFFICE, P.C.
                  1625 The Alameda, Suite 525
                  San Jose, CA 95126
                  Tel: (408) 641-9966
                  Fax: (408) 866-7334
                  E-mail: FarsadLaw1@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Wen Ling signed the petition as CEO/LLC Managing Member.

The Debtor has confirmed in the petition that there are no
unsecured creditors.

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

https://www.pacermonitor.com/view/YKXFJBI/Dynasty_Song_LLC__canbke-25-30482__0001.0.pdf?mcid=tGE4TAMA


DYNASTY TANG: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Dynasty Tang, LLC
        1950 Ivy St.
        San Mateo, CA 94403

Business Description: Dynasty Tang, LLC operates and manages
                      multi-unit residential rental properties.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 25-30481

Debtor's Counsel: Arasto Farsad, Esq.
                  FARSAD LAW OFFICE, P.C.
                  1625 The Alameda, Suite 525
                  San Jose, CA 95126
                  Tel: (408) 641-9966
                  Fax: (408) 866-7334
                  E-mail: FarsadLaw1@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Wen Ling as CEO/LLC managing member.

The Debtor stated in the petition that there are no creditors with
unsecured claims.

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

https://www.pacermonitor.com/view/ZTHFFRI/Dynasty_Tang_LLC__canbke-25-30481__0001.0.pdf?mcid=tGE4TAMA


EAZY-PZ LLC: Case Summary & 13 Unsecured Creditors
--------------------------------------------------
Debtor: Eazy-PZ LLC
           d/b/a ezpz
        17011 Lincoln Ave., PMB 434
        Parker, CO 80134

Business Description: Eazy-PZ LLC designs and sells silicone
                      mealtime products for infants and toddlers,
                      including plates, bowls, mats, and utensils.
                      The Company operates through online and
                      retail channels from its base in Parker,
                      Colorado.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       District of Colorado

Case No.: 25-13720

Judge: Hon. Thomas B Mcnamara

Debtor's Counsel: Aaron J. Conrardy, Esq.
                  WADSWORTH GARBER WARNER CONRARDY, P.C.
                  2580 West Main Street
                  Suite 200
                  Littleton, CO 80120
                  Tel: 303-296-1999
                  Email: aconrardy@wgwc-law.com

Total Assets: $1,019,774

Total Liabilities: $3,881,257

The petition was signed by Lindsey Laurain as managing member.

A copy of the Debtor's list of 13 unsecured creditors is available
for free on PacerMonitor at:

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

https://www.pacermonitor.com/view/4MO567Q/Eazy-PZ_LLC__cobke-25-13720__0001.0.pdf?mcid=tGE4TAMA


EMB PURCHASER: Cliffwater Virtually Writes Off $822,000 Loan
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $822,331
loan extended to EMB Purchaser, Inc. to market at $9,759 or 1% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to EMB Purchaser,
Inc. The loan accrues interest at a rate of 8.78% per annum. The
loan matures on March 12, 2032.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

      About EMB Purchaser, Inc.

EMB Purchaser, Inc. is engaged in providing commercial services and
supplies in the U.S.


ESQUIRE DEPOSITION: Cliffwater Marks $1.4-Mil. Loan at 85% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,440,040
loan extended to Esquire Deposition Solutions, LLC to market at
$208,806 or 15% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver to Esquire Deposition
Solutions, LLC. The loan accrues interest at a rate of 9.55% per
annum. The loan matures on December 30, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

       About Esquire Deposition Solutions, LLC

Esquire Deposition Solutions, LLC offers legal services. The
Company provides deposition and corporate solutions including
online scheduling, calendar management, and conferencing services.


FELTRIM BALMORAL: Seeks to Hire Underwood Murray P.A. as Counsel
----------------------------------------------------------------
Feltrim Balmoral Estates, LLC and its affiliates seek approval from
the U.S. Bankruptcy Court for the Middle District of Florida to
hire Underwood Murray, P.A. as their counsel.

The firm will render these services:

     (a) advise the Debtors with respect to the powers and duties
as debtors and debtors-in-possession in the continued management
and operation of their businesses and property;

     (b) attend meetings and negotiate with representatives of
creditors and other parties-in-interest and advise and consult on
the conduct of the case, including all of the legal and
administrative requirements of operating in Chapter 11;

     (c) advise the Debtors in connection with any contemplated
sales or administration of assets or business combinations;

     (d) advise the Debtors in connection with post-petition
financing arrangements, provide advice and counsel with respect to
pre-petition financing arrangements, and provide advice to the
Debtors in connection with post petition financing and capital
structure, and negotiate and draft documents relating thereto;

     (e) take all necessary actions to protect and preserve
Debtors' estate, including the prosecution of actions on their
behalf, the defense of any actions commenced against the estate,
negotiations concerning all litigation in which the Debtors may be
involved and objections to claims filed against the estate;

     (f) prepare on behalf of the Debtors all motions,
applications, answers, orders, reports and papers necessary to the
administration of his estate;

     (g) negotiate and prepare on the Debtors' behalf a plan,
disclosure statement and all related agreements and/or documents,
and take any necessary action on behalf of the Debtors to obtain
confirmation of such plan;

     (h) attend meetings with third parties and participate in
negotiations with respect to the above matters;

     (i) appear before this Court, any appellate courts, and the
U.S. Trustee, and protect the interests of the Debtors' estate
before such courts and the U.S. Trustee; and

     (j) perform all other necessary legal services and provide all
other necessary legal advice to the Debtors in connection with
these Chapter 11 cases.

Daniel E. Etlinger, Esq., an attorney with Underwood Murray, will
be responsible for the representation. His hourly rate will be $425
and the hourly rates on our other professionals range from $600 to
$140.

Underwood Murray received $10,000 from the Debtors' insider Garrett
Kenny for services to be rendered. The Debtors additionally agreed
to pay $15,000 by June 15, 2025 and $50,000 by June 30, 2025,
totaling $75,000.

Mr. Etlinger 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 E. Etlinger. Esq.
     Underwood Murray, P.A.
     100 North Tampa St., Suite 2325
     Tampa, FL 33602
     Office: (813) 540-8407
     Cell: (585) 733-9792
     Email: detlinger@underwoodmurray.com

        About Feltrim Balmoral Estates

Feltrim Balmoral Estates, LLC owns a clubhouse located at 124 Kenny
Blvd., Haines City, Fla., having a fair value of $3 million.

Feltrim Balmoral Estates and its affiliates filed their voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 24-02122) on April 17, 2024. The case is
jointly administered in Case No. 24-02122.

In the petitions signed by Garrett Kenny, owner and manager,
Feltrim Balmoral Estates disclosed $4,657,697 in assets and
$16,239,519 in liabilities; The Enclave At Balmoral, LLC disclosed
$5,091,844 in assets and $10,565,256 in liabilities; and Balmoral
Estates, LP listed $14,327,306 in assets and $25,909,466 in
liabilities.

Judge Catherine Peek McEwen oversees the case.

Alberto F. Gomez Jr., Esq., at Johnson Pope Bokor Ruppel & Burns
LLP, is the Debtors' counsel.


FFP HOLDINGS: S&P Lowers ICR to 'CCC-' on Elevated Default Risk
---------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
FFP Holdings Group Inc. to 'CCC-' from 'CCC'.

S&P said, "At the same time, we lowered our issue-level rating on
FFP's senior secured first-lien term loan to 'CCC-' from 'CCC'. The
'3' recovery rating reflects our expectations for meaningful
(50%-70%; rounded estimate: 50%) recovery in the event of a payment
default. We lowered our rounded recovery estimate to 50% from 55%
given a new $35 million securitization facility that we treat as
priority debt in the capital structure since it is securitized by
the company's accounts receivables. We lowered our issue-level
rating on FFP's senior secured second-lien term loan to 'C' from
'CC'. The '6' recovery rating reflects our expectations for
negligible (0%-10%; rounded estimate: 0%) recovery in the event of
a payment default.

"The negative outlook reflects our view that FFP is vulnerable to a
near-term payment default or distressed debt restructuring over the
next six months."

FFP Holdings faces heightened near-term liquidity risk due to
ongoing cash deficits following continued under performance,
working capital headwinds, and elevated interest expense.

S&P forecasts EBITDA interest coverage of 0.9x in 2025 and that the
company will exhaust its liquidity over the next six to nine
months, making a debt restructuring probable over the near term.
S&P forecasts limited covenant cushion in 2025.

S&P said, "The downgrade reflects our view that FFP is likely to
pursue a distressed debt restructuring over the next six months.
This is because of the company's weak liquidity position, driven by
ongoing operational underperformance and elevated interest
expenses, resulting in consistent free operating cash flow (FOCF)
deficits and elevated revolver borrowings. FFP's high interest
burden continues to weigh on its ability to generate cash, and we
continue to expect EBITDA interest coverage of 0.9x in 2025. The
company's debt is trading at distressed levels—below 70 cents on
the dollar—potentially incentivizing a distressed exchange, which
we would likely view as tantamount to a default. Additionally,
refinancing risk remains high since its $50 million revolving
credit facility becomes current in October 2025, and it currently
has $45 million outstanding on the facility. We also estimate only
a 5% cushion under the company's 8.08x first-lien net leverage
covenant in 2025, which could also precipitate a debt
restructuring."

FFP's recent actions to bolster liquidity are insufficient to
sustain operations beyond the next six months. As of Dec. 31, 2024,
FFP had $10 million of total liquidity consisting of $5 million
cash and $5 million revolver availability. This was weaker than S&P
expected due to lower-than-anticipated accounts receivable
collections in the fourth quarter, which negatively affected FOCF.
Liquidity improved in the first quarter of 2025, with cash rising
to $27 million (with revolving borrowings unchanged at $45
million). This increase followed a $29 million draw on a newly
established $35 million securitization facility secured by accounts
receivable, along with approximately $8 million of proceeds from a
sale-leaseback transaction involving the company's Melville
manufacturing facility.

Ultimately, S&P views these activities as short-term liquidity
measures intended to forestall a near-term liquidity crisis while
FFP evaluates options to restructure its debt and reduce its
interest burden given the ongoing weakness in the business.

FFP continues to underperform due to softer demand, rising
competition, and increased cost pressures from supply chain
disruptions and tariffs. In the first quarter of 2025, sales
declined 19% and S&P Global Ratings-adjusted EBITDA fell 40%,
reflecting persistent challenges in the performance segment and to
a lesser extent the human nutrition segment. These include weaker
demand amid a weaker macroeconomic environment, execution missteps
by prior management in the performance segment, heightened
competition from new entrants, and rising input
costs—particularly from reduced caffeine supply in China and
tariffs on imported raw materials. Prices for protein (especially
beef) and green coffee remain very high, which S&P thinks is a
factor in weak industry volumes. S&P project minimal EBITDA growth
in 2025 and expect a full-year FOCF deficit of $22 million.
However, continued volume weakness—potentially from customer
attrition or delayed customer onboarding—and further tariff
increases could pressure this forecast and accelerate the risk of a
payment default.

The negative outlook reflects S&P's view that FFP is vulnerable to
a near-term payment default or distressed debt restructuring over
the next six months.

S&P could lower its rating on FFP if the company misses a principal
or interest payment or announces or completes any type of debt
restructuring transaction that it views as distressed and
tantamount to a default.

While highly unlikely, S&P could raise its rating on FFP if S&P no
longer believes there is risk of default over the next six months.



FRANCIS FUNERAL: Case Summary & 13 Unsecured Creditors
------------------------------------------------------
Debtor: Francis Funeral Home, Inc.
        5201 Whitby Avenue
        Philadelphia, PA 19143

Case No.: 25-12439

Business Description: Francis Funeral Home, Inc. provides funeral
                      and memorial services, including private
                      viewings, video tributes, and personalized
                      arrangements.  The Company serves families
                      through professional, affordable care and
                      culturally sensitive offerings.  It operates
                      as a family-owned and operated business.

Chapter 11 Petition Date: June 17, 2025

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania

Judge: Hon. Ashely M Chan

Debtor's Counsel: David B. Smith, Esq.
                  SMITH KANE HOLMAN, LLC
                  112 Moores Road
                  Suite 300
                  Malvern, PA 19355
                  Tel: 610-407-7215
                  Fax: 610-407-7218
                  Email: dsmith@skhlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Frankie Francis as president.

A full-text copy of the petition, which includes a list of the
Debtor's 13 unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/E7PQWLY/Francis_Funeral_Home_Inc__paebke-25-12439__0001.0.pdf?mcid=tGE4TAMA


FRANCO HAULING: Unsecureds to Get $965 per Month for 60 Months
--------------------------------------------------------------
Franco Hauling, LLC filed with the U.S. Bankruptcy Court for the
Northern District of Illinois a Plan of Reorganization under
Subchapter V dated June 5, 2025.

The Debtor is an Illinois limited liability Company engaged in the
trucking business whose Managers are July Franco and Hector Franco.
The Debtor's income is generated from hauling materials and debris
from work sites to disposal areas.

The Debtor was organized and began business in 2020. The Debtor was
certified as a veteran owned, minority owned disadvantaged business
enterprise. As a result of these certification the Debtor was able
to bid on certain projects that are not available to the general
hauling companies. Upon startup, the Debtor began as a union
company and a signatory to Teamster Local 673. Prior to filing the
Teamsters terminated the Debtors membership in the Union.

The claims against the Debtor consists of (a) approximately
$109,088 owed to various lenders who financed its trucks and
trailers; (b) approximately $6482.94 owed to the Internal Revenue
Service; (c) approximately $494,406.40 to trade creditors; (d)
approximately $34,306 to former driver and to the Teamsters Local
673.

The Debtor's projected disposable income, together with cash on
hand will be sufficient to pay 10% to all of the Debtor's creditors
who are not disputed or even if such claims ultimately are
allowed.

This Plan under Chapter 11 of the Code proposes to pay the Debtor's
creditors from net cash flow from operations of the Reorganized
Debtor ("Disposable Income") for a 5-year period. The Plan is
providing for the payment to creditors of the projected Disposable
Income received by the Reorganized Debtor over the five-year period
beginning on the Plan "Effective Date."

Class 6 consists of non-priority unsecured claims. All non priority
unsecured claims allowed under § 502 of the Code not otherwise
allocated to a Class totaling $579,256.00 will be paid in 60 equal
monthly installments of $965.42 without interest beginning on the
first day of the calendar month following the Effective Date, with
each such claimant receiving its pro rata share of such payment.
This Class is impaired.

July Franco and Hector Franco will continue as Mangers of the
Reorganized Debtor upon the Effective Date.

The Plan will be funded by the cash on hand and net Disposable
Income of the Reorganized Debtor following the Effective Date.

A full-text copy of the Subchapter V Plan dated June 5, 2025 is
available at https://urlcurt.com/u?l=FhYvjh from PacerMonitor.com
at no charge.

Counsel to the Debtor:
   
     O. Allan Fridman, Esq.
     555 Skokie Blvd. Suite 500
     Northbrook, IL 60062
     Telephone: (847) 412-0788
     Email: allan@fridlg.com

                       About Franco Hauling LLC

Franco Hauling, LLC is a truck hauling Company that haul materials
and debris from work sites to designates locations. Franco is a
veteran owned female controlled company. Franco was formerly a
Union Contractor, but the contract was terminated by the Suburban
Teamsters. Franco is currently operating a non-union company.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-03520) on March 7,
2025. In the petition signed by July Franco, manager, the Debtor
disclosed up to $100,000 in assets and up to $1 million in
liabilities.

Judge Janet S. Baer oversees the case.

O. Allan Fridman, Esq., at Law Office of Allan Fridman represents
the Debtor as counsel.


GALILEO PARENT: Cliffwater Corporate Marks $5.4MM Loan at 30% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,431,620
loan extended to Galileo Parent, Inc. to market at $3,795,086 or
70% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver to Galileo Parent, Inc. The
loan accrues interest at a rate of 10.05% per annum. The loan
matures on May 3, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About Galileo Parent, Inc.

Galileo Parent, Inc. provides services for card issuing, payment
processing, and banking infrastructure.


GIL AND RIVERA: Bankr. Administrator Unable to Appoint Committee
----------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Eastern District of North
Carolina disclosed in a filing that no official committee of
unsecured creditors has been appointed in the Chapter 11 case of
Gil and Rivera, LLC.

                       About Gil and Rivera

Gil and Rivera, LLC, doing business as Big Jerry's Fencing,
specializes in residential and commercial fence installation
services across the United States. It offers a variety of fencing
materials including wood, vinyl, aluminum, chain link, and
composite, and also installs automatic gates. Headquartered in
North Carolina, Big Jerry's operates in over 20 locations
nationwide and has expanded through a franchise model aimed at
broadening its footprint across multiple states.

Gil and Rivera sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01470) on April 24,
2025. In its petition, the Debtor reported total assets of $252,350
and total liabilities of $1,798,775.

Judge Joseph N. Callaway handles the case.

The Debtor is represented by Danny Bradford, Esq., at Paul D.
Bradford, PLLC.


GILLETTE ENTERPRISES: Hires Johnson Pope as Bankruptcy Counsel
--------------------------------------------------------------
Gillette Enterprises, LLC seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire Johnson, Pope,
Bokor, Ruppel, & Burns, LLP, as counsel.

The firm will render these services:

     a. give the Debtor legal advice with respect to their duties
and obligations as Debtor in Possession or "DIP";

     b. take necessary steps to analyze and pursue any avoidance
actions, if in the best interest of the estate;

     c. prepare on behalf of the Debtor the necessary motions,
notices, pleadings, petitions, answers, orders, reports and other
legal papers required in this Chapter 11 case;

     d. assist the Debtor in taking all legally appropriate steps
to effectuate compliance with the Bankruptcy Code; and

     e. perform all other legal services for the Debtor which may
be necessary including closings of sales of the Debtor's real
property assets.  

The firm will be paid at $500 per hour. The firm received from the
Debtor a retainer of $23,452.94.

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

Alberto (Al) F. Gomez, Jr., Esq., a partner at Johnson Pope Bokor
Ruppel & Burns, 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:

     Alberto (Al) F. Gomez, Jr., Esq.
     Johnson Pope Bokor Ruppel & Burns, LLP
     400 North Ashley Drive, Ste. 3100,
     Tampa, FL 33602
     Tel: (813) 225-2500
     Email: Al@jpfirm.com

        About Gillette Enterprises

Gillette Enterprises LLC operates a metaphysical retail store in
Sarasota, Florida, offering books, crystals, and specialty gifts
and has been in business since 1992.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 8:25-bk-03803-CPM) on
June 6, 2025. In the petition signed by Anthony Gillette, managing
director, the Debtor disclosed up to $500,000 in assets and up to
$10 million in liabilities.

Judge Catherine Peek McEwen oversees the case.

Alberto F. Gomez, Jr., Esq., at Johnson, Pope, Bokor, Ruppel &
Burns, LLP, represents the Debtor as legal counsel.


GLOBAL VALUES: Unsecureds to Get Share of Income for 5 Years
------------------------------------------------------------
Global Values Barre VT QOZ, LLC filed with the U.S. Bankruptcy
Court for the Middle District of Georgia a Disclosure Statement
describing Plan of Reorganization dated June 5, 2025.

The Debtor is an Illinois limited liability company. Its manager is
Anand Anandan. The Debtor is owned 50% by Mr. Anandan, and 50% by
Mr. Anandan's wife, Lakshmi Anandan.

Its principal office address is 582 E. Home Ave., Palatine,
Illinois. It was organized for the purposes of owning and operating
a commercial warehouse space in Barre, Vermont. Historically,
Debtor's tenant has been its affiliate Cochran, Inc ("CI").
However, in 2023, as a result of a rising input cost and a
catastrophic flood that decimated the Barre, Vermont granite
industry, CI began to experience financial distress.

Ultimately, CI shut down its operations in late 2024. Since then,
CI was unable to make its required rent payments to Debtor. As a
result, Debtor spent many months trying to arrange a new tenant for
the Property. In March 2025, shortly before filing this case,
Debtor entered into a 7-year lease with Angel Stones, Inc., in
which Angel Stones agreed to rent Debtor's entire warehouse
facility on a triple net basis. Debtor intends to use the rent
proceeds to fund its plan payment obligations.

Generally, the Plan provides for payments to Allowed Claims from
the net proceeds received under the Lease. The Reorganized Debtor
will retain the Property and continue to operate it as commercial
warehouse. A Claim is defined by the Plan and the Bankruptcy Code
to be a right to payment from the Debtor, or from the property of
the Debtor, or a right to an equitable remedy for breach of
performance, if such breach gives rise to a right to payment.

The Plan defines an Allowed Claim as follows: (a) a Claim that has
been listed by the Debtor on its Schedules as other than disputed,
contingent, or unliquidated, to the extent that it is not otherwise
a Disputed Claim; (b) a Claim for which a Proof of Claim has been
Filed by the applicable Bar Date or has otherwise been deemed
timely Filed under applicable law, to the extent that it is not
otherwise a Disputed Claim; or (c) a Claim that is allowed (i) in
any Stipulation of Amount and Nature of Claim executed by the
Debtor and the Creditor; (ii) in any contract, instrument, or other
agreement entered into in connection with the Plan; (iii) in a
Final Order; or (iv) pursuant to the terms of the Plan.

Class 2 consists of Allowed Claims of General Unsecured Creditors.
The Allowed Claims of General Unsecured Creditors (the "Class 2
Unsecured Claims") are estimated to total $62,138.00 as of the
Confirmation Date. Holders of Allowed General Unsecured Claims in
Class 2 will, by the last day of April each year, receive a payment
equal to each Holder's Pro Rata share of the Reorganized Debtor's
net income for the prior calendar year, with such payments being
made (i) by the last day of April following the first full calendar
year after the Effective Date and (ii) annually for five years,
such that Holders of Allowed Claims in Class 2 shall receive a
total of five annual payments.

Class 3 consists of the equity interests in the Debtor. The holders
of equity interests in the Debtor shall retain such equity
interests.

The Plan is a reorganizing Chapter 11 plan. The funds required for
implementation of the Plan and the distributions hereunder shall be
provided from the net proceeds received under the Lease.

A full-text copy of the Disclosure Statement dated June 5, 2025 is
available at https://urlcurt.com/u?l=EHVbGK from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     David L. Bury, Jr., Esq.
     STONE & BAXTER, LLP
     577 Third Street
     Macon, GA 31201
     Tel: (478) 750-9898
     Fax: (478) 750-9899
     Email: dbury@stoneandbaxter.com

        About Global Values Barre VT QOZ, LLC

Global Values Barre VT QOZ, LLC is an Illinois limited liability
company.

The Debtor sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 25-50379) on March 7,
2025, listing $100,001 to $500,000 in both assets and liabilities.

Judge Austin E Carter presides over the case.

David L. Bury, Jr., Esq. at Stone & Baxter, LLP represents the
Debtor as counsel.


GUMTREE INDUSTRIAL: Cliffwater Marks $8.1MM 1L Loan at 38% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $8,166,885
Australian dollar loan extended to Gumtree Industrial Services
Bidco Pty. Limited to market at $5,034,627 Australian dollar or 62%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a First Lien Term Loan to Gumtree
Industrial Services Bidco Pty. Limited. The loan accrues interest
at a rate of 9.11% per annum. The loan matures on March 31, 2034.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

About Gumtree Industrial Services Bidco Pty. Limited

Gumtree Industrial Services Bidco Pty. Limited is a private
Australian company engaged in providing investment services.


HEART ESTATES: To Sell Zanola Drive Property to Galvan & Estudillo
------------------------------------------------------------------
Heart Estates LLC seeks approval from the U.S. Bankruptcy Court for
the Northern District of Georgia, Atlanta Division, to sell
Property, free and clear of liens, claims, and encumbrances.

The Debtor owns a single-family house located in Cobb County,
Georgia and having a local address of 5621 Zanola Drive, Mableton,
GA 30126. The Debtor has been marketing the Zanola Drive Property
for sale at a list price of $210,000 to generate funds with which
to pay creditors.

The Debtor enters into an agreement with buyers Vanessa Galvan and
Carlos Albores Estudillo and/or assigns for the gross purchase
price of $190,000.

Earnest money in the amount of &1,500 is to be held in trust by the
Buyer's real estate broker Maximum One Greater Atlanta Realtors.

The closing will occur on July 11, 2025 and the Debtor's real
estate agent LoKation Real Estate LLC is to receive compensation at
closing in the amount of $1,500 plus the $228.00 first multiple
listing service fee.

The Buyer's Broker is to receive compensation in the amount of 3%
of the gross sales price, or $5,700.

Wilmington Savings Fund Society asserts a claim of the property.

The Debtor  believes that the sale agreement with the buyers
represent a fair offer for the Zanola Drive Property.

                About Heart Estates LLC

Heart Estates, LLC is a real estate company incorporated on August
5, 2010.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-51291) on February 6,
2025.

Judge Paul Baisier presides over the case.

Paul Reece Marr represents the Debtor as legal counsel.


HELIUS MEDICAL: CVI, Heights Capital Hold 5.8% of Class A Shares
----------------------------------------------------------------
CVI Investments, Inc. and Heights Capital Management, Inc.,
disclosed in a Schedule 13G filed with the U.S. Securities and
Exchange Commission that as of June 4, 2025, they beneficially
owned 183,450 shares of Helius Medical Technologies, Inc.'s Class A
Common Stock, par value $0.001 per share, representing 5.8% of the
3,155,111 shares outstanding as of the completion of the offering
referenced in the issuer's June 6, 2025 prospectus. All of these
shares are held with shared voting and dispositive power, and
Heights Capital Management, Inc., as investment manager to CVI
Investments, Inc., may be deemed to have beneficial ownership of
the reported shares.

CVI Investments, Inc. may be reached through:

     Heights Capital Management, Inc.
     Attn: Sarah Travis, Assistant General Counsel and Assistant
Secretary
     101 California Street, Suite 3250
     San Francisco, California 94111
     Tel: 345-949-8080

A full-text copy of CVI Investments' SEC report is available at:

                  https://tinyurl.com/y67kwj5p

                          About Helius Medical

Headquartered in Newtown, Pennsylvania, Helius Medical
Technologies, Inc. (www.heliusmedical.com) is a neurotechnology
company dedicated to neurological wellness. The Company's mission
is to develop, license, or acquire non-implantable technologies
aimed at reducing the symptoms of neurological disease or trauma.
Its flagship product, the Portable Neuromodulation Stimulator
(PoNS), is an innovative, non-implantable medical device consisting
of a controller and a mouthpiece that delivers mild electrical
stimulation to the surface of the tongue, offering treatment for
gait deficits and chronic balance deficits.

In its report dated March 25, 2025, the Company's auditor since
2022, Baker Tilly US, LLP, issued a "going concern" qualification,
attached to the Company's Annual Report on Form 10-K for the year
ended Dec. 31, 2024, citing that the Company has recurring losses
from operations and an accumulated deficit, expects to incur losses
for the foreseeable future, and requires additional working
capital. These factors raise substantial doubt about their ability
to continue as a going concern.

As of March 31, 2025, Helius Medical Technologies had $3.5 million
in total assets, $2.2 million in total liabilities, and total
stockholders' equity of $1.3 million.



HELIUS MEDICAL: FirstFire Global Holds 5.7% Equity Stake
--------------------------------------------------------
FirstFire Global Opportunities Fund LLC, disclosed in a Schedule
13G filed with the U.S. Securities and Exchange Commission that as
of June 5, 2025, it beneficially owned 179,955 common shares of
Helius Medical Technologies, Inc.'s common stock, with sole voting
and dispositive power over all shares. This represents 5.7% of the
outstanding common shares.

FirstFire Global Opportunities Fund LLC may be reached through:

     Eli Fireman, Managing Member
     1040 1st Avenue, STE 190
     New York, NY 10022
     Tel: 212-317-5970

A full-text copy of FirstFire Global's SEC report is available at:

                  https://tinyurl.com/339ejfnn

                       About Helius Medical

Headquartered in Newtown, Pennsylvania, Helius Medical
Technologies, Inc. (www.heliusmedical.com) is a neurotechnology
company dedicated to neurological wellness. The Company's mission
is to develop, license, or acquire non-implantable technologies
aimed at reducing the symptoms of neurological disease or trauma.
Its flagship product, the Portable Neuromodulation Stimulator
(PoNS), is an innovative, non-implantable medical device consisting
of a controller and a mouthpiece that delivers mild electrical
stimulation to the surface of the tongue, offering treatment for
gait deficits and chronic balance deficits.

In its report dated March 25, 2025, the Company's auditor since
2022, Baker Tilly US, LLP, issued a "going concern" qualification,
attached to the Company's Annual Report on Form 10-K for the year
ended Dec. 31, 2024, citing that the Company has recurring losses
from operations and an accumulated deficit, expects to incur losses
for the foreseeable future, and requires additional working
capital. These factors raise substantial doubt about their ability
to continue as a going concern.

As of March 31, 2025, Helius Medical Technologies had $3.5 million
in total assets, $2.2 million in total liabilities, and total
stockholders' equity of $1.3 million.


HELIUS MEDICAL: Leonite Fund Holds 5.2% Equity Stake
----------------------------------------------------
Leonite Fund I, LP and Avi Geller, disclosed in a Schedule 13G
filed with the U.S. Securities and Exchange Commission that as of
June 5, 2025, they beneficially owned 163,055 common shares of
Helius Medical Technologies, Inc.'s common stock, $0.001 par value
per share, representing approximately 5.2% of the 3,140,166 shares
of common stock outstanding (excluding the common stock underlying
the warrants).

Leonite Fund I, LP may be reached through:

     Avi Geller, Chief Investment Officer
     600 East Crescent Avenue, STE 104
     Upper Saddle River, NJ 07458
     Tel: 845-517-2340

A full-text copy of Leonite Fund's SEC report is available at:

                  https://tinyurl.com/4e7hnf5y

                       About Helius Medical

Headquartered in Newtown, Pennsylvania, Helius Medical
Technologies, Inc. (www.heliusmedical.com) is a neurotechnology
company dedicated to neurological wellness. The Company's mission
is to develop, license, or acquire non-implantable technologies
aimed at reducing the symptoms of neurological disease or trauma.
Its flagship product, the Portable Neuromodulation Stimulator
(PoNS), is an innovative, non-implantable medical device consisting
of a controller and a mouthpiece that delivers mild electrical
stimulation to the surface of the tongue, offering treatment for
gait deficits and chronic balance deficits.

In its report dated March 25, 2025, the Company's auditor since
2022, Baker Tilly US, LLP, issued a "going concern" qualification,
attached to the Company's Annual Report on Form 10-K for the year
ended Dec. 31, 2024, citing that the Company has recurring losses
from operations and an accumulated deficit, expects to incur losses
for the foreseeable future, and requires additional working
capital. These factors raise substantial doubt about their ability
to continue as a going concern.

As of March 31, 2025, Helius Medical Technologies had $3.5 million
in total assets, $2.2 million in total liabilities, and total
stockholders' equity of $1.3 million.


HIGHER GROUND EDUCATION: Down to 7 Schools, Has Deal With Investor
------------------------------------------------------------------
After losing most of its Montessori schools to foreclosure, Higher
Ground Education, Inc., has sought Chapter 11 protection with a
deal that would allow its seven remaining schools in operation.

At its peak, in 2024, HGE was the largest owner and operator of
Montessori schools in the world with over 150 schools in operations
and plans for the construction and opening of dozens more schools.
These schools were located across the United States, with locations
in, among other states, Texas, North Carolina, California, New
York, New Jersey, Illinois, Massachusetts, Washington, Maryland,
Florida, Michigan, Alabama, Indiana, Ohio, Arizona, Kansas,
Missouri, and Virginia.

The Debtors have experienced massive operating losses that
significantly outpaced revenues -- accumulating in operating losses
of over $440 million in the past five years.

The Debtors were unable to pay the required payments under the
various secured debt obligations -- whether they be monthly/
quarterly interest payments or the payment of principal upon the
term of the debt obligations.  As a result, numerous secured
lenders declared events of default, pursued their statutory
remedies, and executed the Foreclosures on the majority of the
Debtors' assets

The Debtors exhausted their numerous marketing efforts and no
parties were interested in providing the Debtors with a significant
cash infusion that would delay the foreclosures.

In addition, as a result of the Debtors' financial shortcomings and
the inability to pay rent at certain schools, the Debtors were
forced to close over 50 schools in 2025 prior to the Petition
Date.

The Debtors still maintain operations at seven schools that were
not foreclosed upon, with the Debtors employing 73 employees as of
the Petition Date.

As of the bankruptcy filing and following the foreclosures, the
Debtors still maintained secured funded debt obligations of $127.3
million and unsecured funded debt of $16.92 million.

The Debtors commenced Chapter 11 cases with the broad support of
all or substantially all of the Debtors' major stakeholder groups.
Prior to the Petition Date, the Debtors entered into a
restructuring support agreement supported by, among others"

     (a) 2HR Learning, Inc. ("2HR"), an arm's-length investor which
has agreed to act as plan sponsor and Senior DIP Lender;

     (b) Guidepost Global Education, Inc. ("GGE"), which has agreed
to contribute certain of its assets pursuant to the Plan and to act
as the Junior DIP Lender;

     (c) Ramandeep (Ray) Girn ("Mr. Girn") the Debtors' co-founder
and former chief executive officer, and Rebecca Girn, the Debtors'
co-founder and former general counsel;

     (d) Yu Capital, LLC and its affiliated entities that represent
a significant number of the Debtors' EB-5 Investors; and

     (e) the consenting parties thereto (the "Supporting RSA
Parties").

The RSA follows significant diligence, discussions, and
negotiations around a value-maximizing restructuring transaction
through a pre-arranged joint chapter 11 plan (the "Plan"), which
will best position these Chapter 11 Cases to effectuate a
value-maximizing result for all parties in interest.  Among other
things, and as more fully described in the RSA, the RSA
contemplates the broad support of the Plan that, despite the
secured debt in the Debtors' capital structure, anticipates
recoveries to unsecured creditors.

Importantly, this restructuring contemplated by the RSA will,
following multiple pre-petition foreclosures and negotiated sales
of substantially all of the Debtors' ongoing operations, allow the
Debtors to maximize value for parties in interest, keep the largest
number of employees employed, and provide students and families
with ongoing access to the remaining schools.

These Chapter 11 Cases are supported by up to $8 million of new
money through a senior and junior post-petition financing
facilities, which also includes a dollar-for-dollar roll-up of
approximately $2 million of the pre-petition bridge financing from
the lenders.  The DIP Facilities will provide the Debtors with
sufficient liquidity to prosecute these Chapter 11 Cases, confirm
and consummate the Plan, and support ongoing operations for the
Debtors' remaining seven (7) Schools.  The RSA contemplates a case
timeline that will effectuate the value-maximizing Plan by Sept.
30, 2025.

The RSA parties signed support these Chapter 11 Cases based on the
belief that a reorganization of the Debtors' remaining business
will continue the Debtors' mission of providing the best early
childhood education to students and families throughout the United
States, whether utilizing the Debtors' current platform or
modifying or supplementing that platform with new educational
programing. Without the RSA and the DIP Facilities, the Debtors
would have been required to liquidate under a Chapter 7 bankruptcy
-- a disorganized process that would not maximize value for the
Debtors' creditors.

               About Higher Ground Education

Higher Ground Education, Inc., was founded in 2016 by a team of
educators and business leaders, who had spent their early careers
dedicated to creating and scaling LePort Education Inc., a
high-quality, high-fidelity Montessori school network headquartered
in Southern California.  HGE operated its Montessori schools under
the Guidepost brand -- a brand synonymous with cultivating
independent children to "live a life, fully lived."

HGE underwent a rapid expansion as the U.S. emerged from COVID-19
lockdowns.  By the fall of 2024, the Debtors were the largest owner
and operator of Montessori schools in the world with over 150
schools in operations and plans for the construction and opening of
dozens more schools.

On June 17, 2025, Higher Ground Education, Inc. and its affiliates
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80121).  The
cases are pending before the Honorable Michelle V. Larson.

The Debtors tapped FOLEY & LARDNER LLP as counsel; and
SIERRACONSTELLATION PARTNERS, LLC, as financial advisor.  VERITA
GLOBAL, LLC, is the claims agent.


HIGHER GROUND: Case Summary & 30 Largest Unsecured Creditors
------------------------------------------------------------
Lead Debtor: Higher Ground Education Inc.
               d/b/a HGE
               d/b/a Altitude Learning
               d/b/a TinyCare
               d/b/a NeighborSchools
               d/b/a Montessorium
               d/b/a Beacon Elementary
             1321 Upland Dr.
             PMB 20442
             Houston, TX 77043


Business Description: Higher Ground Education, Inc. and its
                      subsidiaries operate Montessori schools and
                      provide related training and consulting
                      services worldwide.  Founded in 2016, the
                      Group grew to manage more than 150 schools
                      by 2024, with locations across the U.S. and
                      international expansion into Hong Kong and
                      mainland China.  It also offers virtual and
                      home-based education, teacher training, and
                      licensing of its content to independent
                      partners.

Chapter 11 Petition Date: June 17, 2025

Court: United States Bankruptcy Court
       Northern District of Texas

Thirty-five affiliates that concurrently filed voluntary petitions
for relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                          Case No.
    ------                                          --------
    Higher Ground Education Inc. (Lead Case)        25-80121
    Higher Ground Education Inc.                    25-80121
    Guidepost A LLC                                 25-80122
    Prepared Montessorian LLC                       25-80123
    Terra Firma Services LLC                        25-80124
    Guidepost Birmingham LLC                        25-80125
    Guidepost Bradley Hills LLC                     25-80126
    Guidepost Branchburg LLC                        25-80127
    Guidepost Carmel LLC                            25-80128
    Guidepost FIC B LLC                             25-80129
    Guidepost FIC C LLC                             25-80130
    Guidepost Goodyear LLC                          25-80131
    Guidepost Las Colinas LLC                       25-80132
    Guidepost Leawood LLC                           25-80133
    Guidepost Muirfield Village LLC                 25-80134
    Guidepost Richardson LLC                        25-80135
    Guidepost South Riding, LLC                     25-80136
    Guidepost St. Robert LLC                        25-80137
    Guidepost The Woodlands LLC                     25-80138
    Guidepost Walled Lake LLC                       25-80139
    HGE FIC D LLC                                   25-80140
    HGE FIC E LLC                                   25-80141
    HGE FIC F LLC                                   25-80142
    HGE FIC G LLC                                   25-80143
    HGE FIC H LLC                                   25-80144
    HGE FIC I LLC                                   25-80145
    HGE FIC K LLC                                   25-80146
    HGE FIC L LLC                                   25-80147
    HGE FIC M LLC                                   25-80148
    HGE FIC N LLC                                   25-80149
    HGE FIC O LLC                                   25-80150
    HGE FIC P LLC                                   25-80151
    HGE FIC Q LLC                                   25-80152
    HGE FIC R LLC                                   25-80153
    LePort Emeryville LLC                           25-80154
    AltSchool II LLC                                25-80155

Judge: Hon. Michelle V Larson

Debtors' Counsel:       Holland N. O'Neil, Esq.
                        FOLEY & LARDNER LLP
                        2021 McKinney Avenue, Suite 1600
                        Dallas, TX 75201
                        Tel: (214) 999-3000
                        Fax: (214) 999-4667
                        honeil@foley.com

                          - and -

                        Timothy C. Mohan, Esq.
                        FOLEY & LARDNER LLP
                        1144 15th Street, Ste. 2200
                        Denver, CO 80202
                        Tel: (720) 437-2000
                        Fax: (720) 437-2200
                        Email: tmohan@foley.com

                          - and -

                        Nora J. McGuffey, Esq.
                        Quynh-Nhu Truong, Esq.
                        FOLEY & LARDNER LLP
                        1000 Louisiana Street, Suite 2000
                        Houston, TX 77002
                        Tel: (713) 276-5500
                        Fax: (713) 276-5555
                        Email: nora.mcguffey@foley.com
                               qtruong@foley.com

Debtors'
Financial
Advisor:                SIERRACONSTELLATION PARTNERS, LLC

Debtors'
Notice,
Claims,
Solicitation &
Balloting
Agent:                  VERITA GLOBAL, LLC
                        F/K/A KURTZMAN CARSON CONSULTANTS, LLC

Lead Debtor's
Estimated Assets: $100 million to $500 million

Lead Debtor's
Estimated Liabilities: $100 million to $500 million

The petitions were signed by Jonathan McCarthy as interim president
and secretary.

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

https://www.pacermonitor.com/view/AYQA3BQ/Higher_Ground_Education_Inc__txnbke-25-80121__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                            Nature of Claim  Claim Amount

1. Guidepost Financial Partner, LLC   Note Payable +   $13,294,203
Attn: Daniel A. Rose                     Interest
9440 Enterprise Drive
Mokena, IL 60448
Phone: 708-390-1625
Email: sforde@lfirealestate.com

2. 775 Columbus LLC                    Unpaid Rent      $1,491,868
Attn: Ifeta Ljesnjanin
And Jeffrey Davis
C/O Columbus Square Management
792 Columbus Ave, Suite 1E
New York, NY 10025
Phone: 914-589-6433
Email: ifeta@columbussq.com;
jdavis@columbussq.com

3. 214 E Hallendale Beach LLC          Unpaid Rent        $939,767
Attn: Martin Saidon
1395 Brickell Ave Suite 760
Miami, FL 33131
Phone: 305-692-0334
Email: martin@fortecnow.com;
alexandra@fortecnow.com;
djs@serberlawfirm.com

4. Stripe, Inc.                        Trade Debt         $834,000
Attn: Clay Biggerstaff
354 Oyster Point Boulevard
South San Francisco, CA 94080
Phone: 888-926-2289
Email: clay@stripe.com

5. Orchard Clark LLC                    Unpaid Rent       $791,835
Attn: Steven Chmelik
9440 Enterprise Dr.
Mokena, IL 60448
Phone: 708-390-1623
Email: schmelik@lfirealestate.com;
sforde@lfirealestate.com;
drose@lfirealestate.com

6. Google LLC                           Trade Debt        $697,976
Attn: Director Or Officer
Dept. 33654
Po Box 39000
San Francisco, CA 94139
Phone: 212-688-8895
Email: mdf@sussman-frankel.com

7. Proliants Investment, LLC            Unpaid Rent       $625,119
Attn: Lucas Lequerica
1615 Ferdinand St
Coral Gables, FL 33134
Phone: 305-301-6285
Email: lucaslequerica@hotmail.com;
rrasco@rascoklock.com

8. 10300 Riverside LLC And              Unpaid Rent       $532,739
26300 Southfield LLC
Attn: Manoj Manwani
C/O Canyon Park Capital
41000 Woodward Ave., Ste. 350 E. Bldg
Bloomfield Hills, MI 48302
Phone: 248-433-6096
Email: canyonparkcapital@cmail.com;
gsmcgregor@wwrplaw.com

9. School Of Practical Philosopy        Unpaid Rent       $530,333
Attn: Allan Moller
12 East 79th Street
New York, NY 10075
Phone: 877-744-5669
Email: asm110@earthlink.net

10. RTS Orchards LLC                    Unpaid Rent       $525,657
Attn: Rodney Stiefvater, Manager  
4831 Calloway Dr, Ste 102
Bakersfield, CA 93312
Phone: 661-829-5109
Email: kim@rtsag.com;
terry@rtsag.com;
cscharmen@mdtlaw.com

11. Stiefvater Orchards LP              Unpaid Rent       $514,900
Attn: Marci Langdon
C/O Oro Vista Farms LLC
4831 Calloway Dr, Suite 102
Bakersfield, CA 93312
Phone: 661-829-5109
Email: marci@orovistafarms.com;
terry@rtsag.com; alex@orovistafarms.com

12. Quattro Richmond LLC                Unpaid Rent       $512,416
Attn: Rob Walters
1100 Jorie Blvd, Suite 140
Oak Brook, IL 60523
Email: rob@quattrodevelopment.com;
john@garibaldilawfirm.com

13. Zhao Zhiqiu                         Note Payable +    $500,000
Rm. 902, No. 19                           Interest
Lane 1599 Dingxiang
Shanghai, Mingang District 20000
China

14. Purcellville Building LLC            Unpaid Rent      $491,155
And Syed Noor Zaman And Khalida Zaman
Attn: Hasan M. Ibrahim
C/O Tri Borough Management
1509 Dodona Terrace, Suite 205
Leesburg, VA 20175
Email: hasan@hmiproperty.com

15. Hayjack LLC                          Unpaid Rent      $488,297
Attn: Wanda Wells, Managing Member;
Marlow Peterson, CPA
24 Sendero
Rancho Santa Margarita, CA 92688
Phone: 949-589-9185
Email: wwwwells@yahoo.com;
cpa@marlowpetersoncpa.com;
cpa@marlowpetersoncpa.com

16. 624 W. Church, LLC                   Unpaid Rent      $484,155
Attn: Ryan J Stiefvater
77 El Nido Drive
Napa, CA 94559
Phone: 707-696-5306
Email: ryan@s4holdings.com

17. Lloyd Wells Gift Trust               Unpaid Rent      $481,928
Dtd Nov 24 1987
And Toby Wells Foundation
Attn: Adrienne Wells Holmes
17083 Old Coach Road
Poway, CA 92064
Phone: 619-302-7266
Email: adrienneholmes@ceco-cal.com;
lloydwells@ceco-cal.com

18. 1710 Woodmont Blvd LLC               Unpaid Rent      $478,584
Attn: Scott Remphrey
25 Highland Park Village, Suite 100-776
Dallas, TX 7520
Phone: 214-632-4860
Email: mail@sremphrey.com;
john@garibaldilawfirm.com

19. 18265 Highway 49 LLC                Unpaid Rent       $476,289
Attn: Charles H. Hays, Jr
7682 Callaway Dr
Rancho Murieta, CA 95683
Phone: 209-256-0448
Email: chhaysjr@gmail.com

20. 3741 Buchanan Street                Unpaid Rent       $467,224
Associates LLC
Attn: Dino D'Ercole
790 26th Avenue
San Mateo, CA 94403
Email: dinod@nibbi.com;
sreuben@reubenlaw.com

21. DC Newton Wells LLC                 Unpaid Rent       $465,991
Attn: Tyler Arsenault
1000 Lenola Road Suite 100
Maple Shade, NJ 08052
Phone: 856-778-4900
Email: rmhill@retailsites.net;
tarsenault@retailsites.net

22. Cathy Eunjoo Lim                    Unpaid Rent       $447,357
Attn: Sophiea Kim
1706 Embarcadero Lane
Bakersfield, CA 93311
Phone: 213-718-4949
Email: sophiea.jk@gmail.com

23. Pure Tempe Partnership              Unpaid Rent       $447,045
Attn: Michael Pure
1566 Oak Avenue
Evanston, Il 60201
Email: mwpure@gmail.com

24. Atkinson Real Estate Legacy         Unpaid Rent       $444,511
Partnership 2 LP
Attn: Jana Atkinson Rodich
9923 North Uinta
Kamas, UT 84036
Email: jana@rodich.net;
lkraft@palosverdescp.com;
mrodich@palosverdescp.com;
dvallas@polsinelli.com

25. Chicago 1000 Washington LLC         Unpaid Rent       $438,743
Attn: Dubbin Hanon
C/O Excel Property Consulting, LLC
2 Ethel Road Suite 205A
Edison, NJ 0881
Phone: 212-372-7276
Email: dh@Excelpc.net

26. 9930 Valley Ranch Pkwy LLC          Unpaid Rent       $437,138
Attn: Scott Remphrey
25 Highland Park Village,
Suite 100-776
Dallas, TX 75205
Phone: 214-632-4860
Email: mail@sremphrey.com;
john@garibaldilawfirm.com

27. 109 Natches Trace LLC                Unpaid Rent      $426,041
Attn: Scott Remphrey
25 Highland Park Village,
Suite 100-776
Dallas, TX 75205
Phone: 214-632-4860
Email: mail@sremphrey.com;
john@garibaldilawfirm.com

28. Longmont GM LLC                      Unpaid Rent      $419,497
Attn: Nick Studen
4404 Fairway Lane
Broomfield, CO 80023
Phone: 303-615-9595
Email: serb96@Gmail.com;
tonya@bashamcre.com

29. La Senda 77 LLC                      Unpaid Rent      $406,974
Attn: Les Keyak
307 South B Street, Suite 1
San Mateo, CA 94401
Phone: 650-403-2307
Email: lkeyak@usrinvest.com;
wlm@jsmf.com

30. Quattro San Rafael LLC               Unpaid Rent      $406,264
Attn: Rob Walters
1100 Jorie Blvd, Suite 140
Oak Brook, IL 60523
Email: rob@quattrodevelopment.com;
john@garibaldilawfirm.com


HIGHLANDS GROUP: Somerset Property Sale to Jed and Amy Karalfa OK'd
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania,
has approved The Highlands Group LLC, to sell its Property, free
and clear of liens, claims, and encumbrances.

The Debtor owns the real property identified on the Debtor's
schedules as 424 Country Club Road, Johnstown, PA, 15905 in
Somerset County, PA and are approximately one acre each.

The Court has authorized the Debtor to sell the the Property to Jed
and Amy Karalfa for $45,000.

The Court ordered that the liens, claims and interests of all
respondents, including but not limited to the mortgage of 1st
Summit Bank, the mortgage of Jari Growth Fund, Inc., the mortgage
of Johnstown Area Regional Industries Inc., the mortgage of
Pennsylvania Industrial Development Authority, and the real estate
tax claims of the Somerset County Tax Claim Bureau be, and divested
from the property being sold.

The Court also held that the following expenses/costs shall
immediately be paid at the time of closing in the following order
of priority. Failure of the closing agent to timely make and
forward the disbursements required by this Order will subject the
closing agent to monetary sanctions.

(1) Delinquent real estate taxes and municipal fees if any (payoff
amounts to be determined by closing agent);

(2) Current real estate taxes, pro-rated to the date of closing;

(3) Normal closing costs including title search, legal fees,
revenue stamps, and any other normal and necessary closing costs
including any legal fees;

(4) Any costs related to survey and/or subdivision of the real
estate to be sold;

(5) Reimbursement of court sale filing fee in the amount of $188.00
payable to "Steidl & Steinberg, P.C., Koppers Building, Suite 322,
436 Seventh Avenue, Pittsburgh, PA 15219";

(6) The costs of local newspaper advertising in the amount of
$156.00 payable to "Steidl & Steinberg, P.C., Koppers Building,
Suite 322, 436 Seventh Avenue, Pittsburgh, PA 15219";

(7) The costs of legal journal advertising in the amount of $61.60
payable to "Steidl & Steinberg, P.C., Koppers Building, Suite 322,
436 Seventh Avenue, Pittsburgh, PA 15219";

(8) The Court approved attorney fees for Debtor’s counsel in the
amount of $3,500.00 payable to "Steidl & Steinberg, P.C., Koppers
Building, Suite 322, 436 Seventh Avenue, Pittsburgh, PA 15219";

(9) The Court approved realtor commission in the amount of
$3,500.00 plus $450.00; Neither Michele Haschak nor Berkshire
Hathaway HomeServices The Preferred Realty or any affiliate of the
same shall be entitled to any compensation whatsoever from the sale
of the Saylor School Road Lots 1&2 pending further order of the
Court.

(10) The "net proceeds" after all other distributions herein shall
be made payable to "1st Summit Bank" and sent to Justin Tuskan,
Esq., Metz Lewis Brodman Must O'Keefe LLC, 444 Liberty Avenue,
Suite 2100, Pittsburgh, PA 15222.

           About The Highlands Group LLC

The Highlands Group LLC in Johnstown, PA, filed its voluntary
petition for Chapter 11 protection (Bankr. W.D. Pa. Case No.
24-70160) on April 22, 2024, listing as much as $1 million to $10
million in both assets and liabilities. Brian C. Durham as member,
signed the petition.

Judge Jeffery A. Deller presides over the case.

STEIDL & STEINBERG, P.C., serves as the Debtor's legal counsel.


HILLER COMPANIES: Cliffwater Corporate Marks $2.5MM Loan at 73% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,521,562
loan extended to The Hiller Companies, Inc. to market at $678,650
or 27% of the outstanding amount, according to CCLFX's Form N-CSR
for the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to The Hiller
Companies, Inc. The loan accrues interest at a rate of 9.32%, 4.00%
PIK per annum. The loan matures on June 20, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

                About The Hiller Companies, Inc.

The Hiller Companies, Inc. offers fire protection products and
services that are preserving lives and property all around the
world.


HOOTERS OF AMERICA: Creditor Files Unpaid Royalties Lawsuit
-----------------------------------------------------------
Benjamin Hernandez of Bloomberg Law reports that Lags Equipment
LLC, claiming to be a secured creditor and royalty interest holder
in Hooters of America LLC's Chapter 11 proceedings, has filed suit
in the U.S. Bankruptcy Court for the Northern District of Texas,
accusing the company and its lenders of violating its rights.

In its Tuesday, June 17, 2025, complaint, Lags alleges that Hooters
and its lenders sought to invalidate ownership and priority rights
the firm has held for more than 36 years. The lawsuit seeks $2
million in damages for unpaid royalties and alleges tortious
interference with its contractual interests.

                 About Hooters of America

Hooters of America, LLC, owner and operator of a restaurant chain
with hundreds of locations in the United States, and its affiliates
filed voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80078) on March
31, 2025.

Founded in 1983, the Debtors own and operate Hooters, a renowned
brand in the casual dining and sports entertainment industries.
Their global portfolio includes 151 company-owned and operated
locations and 154 franchised locations across 17 countries. Known
for their world-famous chicken wings, beverages, live sports, and
legendary hospitality, the Debtors also partner with a major food
products licensor to offer Hooters-branded frozen meals at 1,250
grocery store locations.

The case is before the Hon. Scott W Everett.

The Debtors Co-Bankruptcy Counsel are Holland N. O'Neil, Esq.,
Stephen A. Jones, Esq., and Zachary C. Zahn, Esq., at FOLEY &
LARDNER LLP, in Dallas, Texas.

The Debtors' General Bankruptcy Counsel are Ryan Preston Dahl,
Esq., at ROPES & GRAY LLP, in New York, and Chris L. Dickerson,
Esq., Rahmon J. Brown, Esq., and Michael K. Wheat, Esq., at ROPES &
GRAY LLP, in Chicago, Illinois. The Debtors' Investment Banker is
SOLIC CAPITAL, LLC.  The Debtors' Financial Advisor is ACCORDION
PARTNERS, LLC.

The Debtors' Notice, Claims, Solicitation & Balloting Agent is
KROLL RESTRUCTURING ADMINISTRATION LLC.


HSI HALO: Cliffwater Corporate Marks $2.1MM Loan at 83% Off
-----------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,113,248
loan extended to HSI Halo Acquisition, Inc. to market at $357,803
or 17% of the outstanding amount, according to CCLFX's Form N-CSR
for the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to HSI Halo
Acquisition, Inc. The loan accrues interest at a rate of 9.29% per
annum. The loan matures on June 30, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

                 About HSI Halo Acquisition, Inc.

HSI Halo Acquisition, Inc. is a recognized leader in Environmental,
Health and Safety (EHS) and workforce development software,
training, and compliance solutions.


ICIMS INC: Cliffwater Corporate Marks $1.7 Million Loan at 89% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,777,142
loan extended to iCIMS, Inc. to market at $197,945 or 11% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Revolver Loan to iCIMS, Inc. The loan
accrues interest at a rate of 10.04% per annum. The loan matures on
August 18, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About  iCIMS, Inc

iCIMS, Inc. provides software solutions. The Company offers
cloud-based enterprise recruiting platform that empowers
organizations to attract, engage, retain, and hire workforce. iCIMS
serves customers worldwide.



IG INVESTMENT: Cliffwater Corporate Marks $6.1MM Loan at 97% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $6,198,981
loan extended to IG Investment Holdings, LLC to market at $200,226
or 3% of the outstanding amount, according to CCLFX's Form N-CSR
for the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to IG Investment
Holdings, LLC. The loan accrues interest at a rate of 11.5% per
annum. The loan matures on September 22, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About IG Investment Holdings, LLC

Insight Global, headquartered in Atlanta, Georgia and controlled by
affiliates of private equity sponsor Harvest Partners, is a
specialized provider of temporary and project professionals.


INOVEX INFORMATION: Cliffwater Corporate Marks $3MM Loan at 56% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,030,303
loan extended to Inovex Information Systems Incorporated to market
at $1,342,903 or 44% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Inovex Information
Systems Incorporated. The loan accrues interest at a rate of 9.55%
per annum. The loan matures on December 17, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

              About Inovex Information Systems Inc.

Inovex Information Systems Inc. provides engineering services. The
Company offers streaming cloud analysis, semantic data integration,
unified information, and research and development services. Inovex
Information Systems serves clients in the United States.


INSTITUTO DE EDUCACION: Seeks to Tap Jose O. Ayala as Accountant
----------------------------------------------------------------
Instituto de Educacion y Tecnologia Inc. seeks approval from the
U.S. Bankruptcy Court for the District of Puerto Rico to hire Jose
O. Ayala, CPA, MBA, an accountant practicing in Toa Alta, Puerto
Rico.

The accountant will render these services:

     (a) assist the Debtor in gathering and compiling the necessary
information required to file the Chapter 11 petition and court
required information and schedules;

     (b) provide consulting services and assist the Debtor and its
attorney in documenting the reorganization plan to be filed in the
case;

     (c) prepare monthly operating reports;

     (d) prepare all necessary tax returns to ascertain the Debtor
is in full compliance with its fiscal responsibilities; and

     (e) assist the Debtor and its attorney in all matters related
to court instructions, transactions, and or information requests of
an accounting or financial nature.

The accountant's hourly rates are as follows:

     Jose Ayala, CPA, MBA     $190
     Senior Accountant        $125
     Staff Accountant          $75

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

Mr. Ayala also requires a retainer of $10,000 for this case.

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

The accountant can be reached at:

     Jose O. Ayala, CPA, MBA
     Urb Ciudad Jardin III
     Toa Alta, PR 00953
     Telephone: (939) 438-0254
     Email: jayalacpa@gmail.com

        About Instituto de Educacion y Tecnologia Inc.

Instituto de Educacion y Tecnologia Inc. is a non-profit
educational institution operating in Puerto Rico that provides
educational services through a contract with the Department of
Education of Puerto Rico valid until June 30, 2025.

Instituto de Educacion y Tecnologia Inc. sought relief under
Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
P.R. Case No. 25-02193-11) on May 16, 2025. In its petition, the
Debtor reports estimated assets between $100,000 and $500,000 and
estimated liabilities between $500,000 and $1 million.

Honorable Bankruptcy Judge Enrique S. Lamoutte Inclan handles the
case.

The Debtors are represented by Carmen D. Conde Torres, Esq. at C.
CONDE & ASSOC.


IRIS BUYER: Cliffwater Corporate Virtually Writes Off $1-Mil. Loan
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,024,057
loan extended to Iris Buyer LLC to market at $40,216 or 4% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Iris Buyer LLC.
The loan accrues interest at a rate of 9.55% per annum. The loan
matures on October 2, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

             About Iris Buyer LLC

IRIS Buyer LLC, a Delaware-based limited liability company.


IRIS HOLDING: S&P Upgrades ICR to 'B-' on Improved Credit Metrics
-----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Iris Holding
Inc. (dba IPG) to 'B-' from 'CCC+'. The outlook is stable.

S&P said, "At the same time, we raised our rating on the company's
secured term loan to 'B-' from 'CCC+'. The '3' recovery rating is
unchanged. We also raised our rating on the company's senior
unsecured notes to 'CCC' from 'CCC-'. The '6' recovery rating on
this debt is unchanged.

"The stable outlook reflects our expectation for the company's S&P
Global Ratings-adjusted EBITDA to increase 3%-4% per year supported
by modest margin expansion and revenue growth over the next couple
of years. We expect this would contribute to positive FOCF and S&P
Global Ratings-adjusted EBITDA interest coverage of 1.2x-1.5x."

IPG credit measures have strengthened, stemming from improved
profitability and earnings growth despite an uncertain demand
environment. In addition, S&P expects the company will sustain
positive free operating cash flow (FOCF) generation because it
assumes higher earnings will be met with lower short-term interest
rates over the next couple of years.

S&P said, "We expect S&P Global Ratings-adjusted debt-to-EBITDA
will be in the low-8x area through 2026 before declining to the 7x
area in 2027 with S&P Global Ratings-adjusted EBITDA interest
coverage of 1.2x-1.5x.

"We anticipate improved profitability will offset slower demand
environment, leading to earnings growth. The company's margins have
expanded faster than we had initially expected in our October 2023
review, with EBITDA margin increasing to about 17.2% in 2024,
representing about a 200 basis points (bps) increase from 2023.
This reflects lower raw material costs and initiatives from the
company to improve productivity that we expect will continue. We
think IPG will gradually improve its S&P Global Ratings-adjusted
EBITDA margins within the 17%-18% range over the next couple of
years contributing to modest EBITDA growth this year, despite our
assumption for flat sales growth in 2025 due to ongoing
macroeconomic uncertainty particularly within its
business-to-business and industrial segments that we view as more
vulnerable when compared to its food and beverage, and e-commerce
segments. Beyond this year, we expect the company's improved
margins, combined with modest top-line revenue growth in the mid-
to low-single-digit percent area, will lead to S&P Global
Ratings-adjusted EBITDA growing to about $270 million by 2026
compared to about $255 million in 2025 and $252 million in 2024.

"We expect the company will sustain positive FOCF and interest
coverage well above 1x. IPG's improved earnings and lower
short-term interest rates will also lead to modest deleveraging
over the next few years, with S&P Global Ratings-adjusted debt to
EBITDA declining to the low 8x area by 2026 (compared to the mid-8x
area in 2024 and 2025). Under this scenario, we also forecast the
company will sustain positive FOCF even though we estimate annual
capital expenditures (capex) will increase to about $40 million,
half of which we assume is related to growth initiatives. In our
view, this provides some flexibility for the company to scale back
capex in a stress scenario particularly if demand or market
conditions weaken. Furthermore, S&P Global projects the average
secured overnight financing rate (SOFR) will decline to about 3.1%
by 2027 from 5.2% in 2024, which would reduce annual cash interest
costs for the company by $30 million -$35 million over the next few
years. This is because the interest expense on IPG's $1.5 billion
term loan facility (about two thirds of the company's debt) is
based on a variable rate (SOFR plus a margin).

"We believe IPG is well positioned to manage direct effects of U.S.
import tariffs, if reinstated. In our view, IPG has limited
exposure to cross-border sales. As with other packaging peers in
North America, most of the company's facilities are co-located
regionally with its customers. In addition, IPG's revenue is
concentrated in North America because the U.S. represents about 80%
sales, with 10% from Canada and 10% from other regions such as
Europe and Asia. We believe the potential exposure from the
company's cross border sales and raw material sourcing can mostly
be mitigated by its ability to pass higher costs to its customers.
The company has an established track record of executing price
increases, and we expect this will persist to preserve margins.
Nevertheless, we expect tariff uncertainty will persist and
contribute to a more challenging economic backdrop this year and
slower volume growth, which limits margin expansion due to the
company's high operating leverage.

"IPG has significant debt maturities in 2028 that increase the
company's credit risk in our view despite our expectations for its
liquidity position to remain adequate through 2026. As of March 31,
2025, the company had about $1.9 billion of its debt due in 2028,
which included its undrawn asset-based lending (ABL) revolving
credit facility due June 2027, its $1.5 million senior secured term
loan due June 2028, and $400 million of senior unsecured notes due
December 2028. With substantial debt maturities over the next few
years, refinancing risk has become an increasing rating
consideration, particularly given our expectation for relatively
modest FOCF generation, S&P Global Ratings-adjusted EBITDA interest
coverage in the 1.2x-1.5x area, and volatility in the high-yield
debt market this year.

"The stable outlook reflects our expectation for the company's S&P
Global Ratings-adjusted EBITDA to increase 3%-4% per year,
supported by modest margin expansion and revenue growth over the
next couple of years. We expect this would contribute to positive
FOCF and S&P Global Ratings-adjusted EBITDA interest coverage of
1.2x-1.5x.

"We could lower our rating on IPG within the next 12 months if we
consider the company's capital structure unsustainable. In this
scenario, we would likely expect the company to generate negative
FOCF, S&P Global Ratings-adjusted EBITDA interest coverage at or
below 1x, or a meaningful deterioration in its liquidity position.
This could occur if S&P Global Ratings-adjusted EBITDA is sustained
below $250 million with S&P Global Ratings-adjusted debt to EBITDA
approaching 9x, potentially stemming from weaker macroeconomic
conditions or profitability. This could also occur if we anticipate
higher interest costs for the company that we consider
unsustainable with IPG's prospective earnings.

"Although unlikely within the next 12 months, we could raise our
rating on IPG if we expect the company to sustain S&P Global
Ratings-adjusted debt to EBITDA below 6.5x and S&P Global
Ratings-adjusted EBITDA interest coverage of 1.5x-2.0x. In this
scenario, we would also expect IPG to generate steady organic
growth in S&P Global Ratings-adjusted EBITDA and FOCF, supported by
organic revenue growth and steady or improving EBITDA margins."



J&J VENTURES: S&P Alters Outlook to Stable, Affirms 'B' ICR
-----------------------------------------------------------
S&P Global Ratings revised its outlook to stable from positive and
affirmed its 'B' issuer credit rating on video gaming terminal
(VGT) operator J&J Ventures Gaming LLC. The issue-level ratings on
J&J's secured debt are unchanged.

S&P said, "The stable outlook reflects our expectation that
following an increase in leverage to about 6x in 2025, J&J will
reduce leverage in 2026 from continued free cash flow generation
and EBITDA growth from a partial year of contributions from recent
acquisitions.

"We reassessed our treatment of J&J Ventures Gaming LLC's
redeemable preferred shares and will include this capital as a
debt-like obligation in our adjusted debt calculation. We continue
to assess financial-sponsor Oaktree's preferred shares as noncommon
equity.

"We now expect S&P Global Ratings-adjusted debt to EBITDA to
increase to about 6x and remain above our 5x upgrade threshold
through 2026. Nevertheless, we do not expect this reassessment to
change the underlying cash flow characteristics of the company.

"The revision reflects our forecast for leverage to remain above
our 5x upgrade threshold through at least 2026 following our
reassessment of the redeemable preferred shares. In 2024, J&J
issued $200 million of preferred shares to a minority investor, and
after receiving further details of the investment terms, we now
believe it has more debt-like characteristics than equity. Given
the high coupon rate and ability to partially redeem the preferred
shares at any time, we believe it is unlikely J&J will keep it
outstanding for a sufficiently long period to be available to
absorb losses when needed.

"As a result, we don't view the preferred shares as satisfying all
of the equity characteristics necessary to exclude them from our
adjusted debt calculation. We therefore reclassified these
preferred shares to debt from equity and included the value of
these securities in our adjusted debt calculations.

"This reclassification increases J&J's debt to EBITDA on an S&P
Global Ratings' adjusted basis, pro forma for recently closed and
announced acquisitions, to about 6x. Although this treatment
elevates J&J's debt levels and leverage risk on our adjusted basis,
the capital does not change the company's cash flow generating
capacity given dividends are paid in kind, at least until it is
partially or wholly redeemed presumably with future funded debt.

"While we expect leverage will be at about 6x in 2025, we raised
our leverage downgrade threshold for the rating to 6.5x from 6x,
reflecting J&J's improved geographic diversity and scale. Moreover,
the 6.5x debt leverage threshold is in line with J&J's peers rated
'B' with similar business risk profiles. Additionally, we forecast
J&J's free operating cash flow (FOCF) to debt to remain above 5%
and EBITDA interest coverage to remain above 2x, supporting the
affirmation of the 'B' rating."

Recent acquisitions improve J&J's margin profile in Illinois and
increase its scale and geographic diversity. J&J acquired
distributed gaming operator Nebraska Technical Services (NTS) for
an initial payment of $17.5 million plus earnouts of up to $3
million in each of the three years following closing. J&J is also
acquiring route partner National Gaming Operators LLC (NGO) for an
initial payment of $4 million plus subsequent payments totaling $8
million over the next three years.

S&P believes integration risk is relatively limited for NGO because
J&J will retain revenue generated from its existing VGT footprint
that it currently shares with NGO following the acquisition. NGO is
an existing third-party revenue share partner with J&J in Illinois
that does not operate its own VGT route. Instead, NGO serves as a
third-party sales team that helps J&J procure and maintain
additional contracts in high-performing locations through its
relationships with those locations. In exchange for their sales
efforts, these partners receive a negotiated percentage of the
revenue generated at these locations. While the NTS acquisition
will expand its VGT footprint in Nebraska, J&J has a successful
track record of integrating acquisitions of smaller competitors in
its existing markets.

The NGO acquisition will increase EBITDA margin in J&J's Illinois
operations as J&J will retain NGO's share of revenue in its
existing portfolio. Additionally, the NTS acquisition will boost
J&J's scale in Nebraska by adding approximately 3,500 devices
across 500 locations, including about 1,200 skill games across 400
locations to J&J's portfolio. NTS's distributed gaming operations
have a leading market position in Nebraska with a 24% market share.
These market positions complement well J&J's existing leading
market position in the Illinois VGT market, where it has an about
30% market share.

As a result, the increased scale will give J&J a competitive
advantage with its ability to provide superior service and
favorable contract terms that will be difficult for smaller
competitors to replicate. J&J already has a strong record of not
only renewing its existing contracts but also winning contracts and
taking share from its competitors, and we believe this acquisition
will further entrench the company's market-leading position. J&J's
expansion into Nebraska will modestly reduce its geographic
concentration in Illinois, allowing it to somewhat reduce its
vulnerability to potential adverse regulatory developments,
weather-related disruptions, regional economic weakness, or changes
in the competitive landscape.

The company's financial-sponsor ownership and track record of
debt-financed acquisitions and distributions are key risks to
ratings upside. J&J's majority ownership by financial-sponsor
Oaktree Capital Management is a key financial risk given our belief
that financial-sponsor owners frequently engage in debt-financed
acquisitions or shareholder returns. J&J has a recent history of
issuing debt to fund sponsor distributions and acquisitions. S&P
expects J&J will likely continue to pursue debt-financed
acquisitions in the future as it looks to expand to new VGT markets
and further penetrate its existing markets to solidify its leading
market position.

Oaktree owns 56.9% of J&J through its preferred share stake, while
management owns the remainder through common equity. S&P said, "We
view the preferred ownership by Oaktree as noncommon equity because
we believe that taking out any part of the preferred equity with
funded debt would reduce Oaktree's ownership and therefore its
control of the company, which would not be in Oaktree's financial
interest. In addition, payment of cash dividends is made pro rata
among preferred and common shareholders. We therefore exclude
Oaktree's preferred shares from our adjusted leverage
calculation."

S&P said, "The stable outlook reflects our expectation that J&J's
leverage will be about 6x in 2025 and EBITDA interest coverage will
remain above 2x. Furthermore, we expect J&J will reduce leverage in
2026 to mid-5x with continued free cash flow generation and EBITDA
growth from a partial year of contributions from its recent
acquisitions."

S&P could lower the rating if it expects J&J to sustain leverage
above 6.5x and EBITDA interest coverage below 2x. This could occur
if:

-- The company incurs incremental debt for a dividend;

-- There is an unexpected decline in the company's performance,
likely driven by softer-than-expected consumer spending; or

-- S&P assesses increased redemption risk associated with the
preferred equity contributed by the sponsors and view it as a
debt-like obligation.

S&P could raise its credit rating by one notch if:

-- The company sustains leverage below 5x;

-- The company builds some cushion to sustain operating
volatility; and

-- S&P believes that acquisitions or shareholder distributions
will be done in a manner that sustains leverage below 5x.



J.C.C.M. PROPERTIES: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------------
The U.S. Trustee for Region 21 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of J.C.C.M. Properties, Inc.

                  About J.C.C.M. Properties Inc.

J.C.C.M. Properties Inc. leases real estate, with its main assets
situated at 1585 Crater Lake in Kennesaw, Georgia.

J.C.C.M. Properties sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55412) on May 14,
2025. In its petition, the Debtor reported estimated liabilities
between $1 million and $10 million and estimated liabilities
between $50 million to $100 million.

Judge Paul Baisier oversees the case.

The Debtor is represented by Will Geer, Esq., at Rountree Leitman
Klein & Geer, LLC.


J2KE INC: Gets Interim OK to Use Cash Collateral
------------------------------------------------
J2KE Inc. got the green light from the U.S. Bankruptcy Court for
the Northern District of Texas, Fort Worth Division, to use cash
collateral.

The court's order authorized the Debtor's interim use of cash
collateral to pay post-petition expenses in accordance with its
13-week budget.

The cash collateral consists of proceeds from the use or sale of
the Debtor's assets securing its indebtedness to KeyBank National
Association.

As adequate protection for the Debtor's use of its cash collateral,
KeyBank will be granted replacement liens on the Debtor's
post-petition cash and inventory to the same extent and with the
same priority and validity as its pre-bankruptcy liens.

KeyBank will not receive a security interest in or a replacement
lien on the Debtor's avoidance actions under Chapter 5 of the
Bankruptcy Code.

A final hearing is set for July 2, with objections due by June 27.


On the petition date, the Debtor filed for Chapter 11 protection
due to financial distress caused by rapidly rising food costs. The
Debtor operates a Scooter's Coffee franchise located at 2137 W.
Washington St., Stephenville, Texas 76401. Prior to the petition
date, the Debtor entered into a Note and Leasehold Deed of Trust
with KeyBank, which is secured by a lien on substantially all of
the Debtor's assets, including real estate, accounts receivable,
inventory, equipment, and cash. As of the petition date, the
outstanding debt to KeyBank totals $726,395.

                        About J2KE Inc.

J2KE Inc. operates a Scooter's Coffee franchise located at 2137 W.
Washington St., Stephenville, Texas 76401.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42129-elm11) on June
11, 2025. In the petition signed by Kelly Dortch, member, the
Debtor disclosed up to $500,000 in assets and up to $1 million in
liabilities.

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





JEFRYN PARK REALTY: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Jefryn Park Realty LLC
        105 E Jefryn Blvd
        Deer Park, NY 11729

Business Description: Jefryn Park Realty LLC, through its
                      affiliate, produces metal hardware products.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 25-42913

Judge: Hon. Jil Mazer-Marino

Debtor's Counsel: James C. Vandermark, Esq.
                  WHITE AND WILLIAMS LLP
                  810 Seventh Avenue, Suite 500
                  New York, NY 10019
                  Tel: (212) 244-9500
                  E-mail: vandermarkj@whiteandwilliams.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Samuel Michelson as manager.

The petition was filed without the Debtor's list of its 20 largest
unsecured creditors.

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

https://www.pacermonitor.com/view/JF3Q3XA/Jefryn_Park_Realty_LLC__nyebke-25-42913__0001.0.pdf?mcid=tGE4TAMA


JEFRYN PARK: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Jefryn Park Realty LLC
        105 E Jefryn Blvd
        Deer Park, NY 11729

Business Description: Jefryn Park Realty LLC, through its
                      affiliate, manufactures custom metal
                      hardware including hinges, locks, and
                      handles.  It leases and operates from a
                      40,000-square-foot industrial facility in
                      Deer Park, New York.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 25-72381

Judge: Hon. Alan S Trust

Debtor's Counsel: James C. Vandermark, Esq.
                  WHITE AND WILLIAMS LLP
                  810 Seventh Avenue, Suite 500
                  New York, NY 10019
                  Tel: (212) 244-9500
                  E-mail: vandermarkj@whiteandwilliams.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Samuel Michelson as manager.

A list of the Debtor's 20 largest unsecured creditors was not
provided alongside the petition.

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

https://www.pacermonitor.com/view/K33RM2A/Jefryn_Park_Realty_LLC__nyebke-25-72381__0001.0.pdf?mcid=tGE4TAMA


JILL'S OFFICE: Seeks Cash Collateral Access Until Sept. 30
----------------------------------------------------------
Jill's Office, LLC asked the U.S. Bankruptcy Court for the District
of Utah, Central Division, for authority to use cash collateral
from July 1 to September 30 under terms previously approved in its
April 24 order.

The Debtor said that continued use of cash collateral is essential
for paying employees, taxes, rent, and operational expenses.

The Debtor intends to use this cash according to a proposed budget,
allowing up to 15% variance per category, and will grant the Small
Business Administration and other secured creditors a replacement
lien in post-petition cash and receivables. Additionally, the
Debtor proposed to continue paying the SBA $9,000 per month as
adequate protection during this period.

The parties believed to have perfected interests in the cash
collateral include the SBA, Samson MCA LLC, Northeast Bank, Elite
Funding, Premium Merchant Funding 26, LLC, CFT Clear Finance
Technology Corp., and Daytona Funding Solutions.

The Debtor, which provides remote receptionist services across the
U.S. and Canada, generates about $480,000 in monthly receivables,
mainly via credit card payments processed by Stripe Servicing, Inc.
It faced financial challenges after an over-hiring effort in early
2024 failed to attract the expected increase in customers, leading
it to rely on merchant cash advance lenders and personal resources.


The SBA is believed to hold a senior perfected lien on all assets,
including cash, with a claim of approximately $630,000. Other
creditors, including various MCA lenders and banks, may hold junior
liens, but the Debtor argues they lack enforceable secured claims
due to insufficient collateral equity. Stripe Servicing, Inc. may
also have a superior claim on receivables it processed by virtue of
possession. Stripe's debt has since been paid off.

The Debtor owns around $100,000 in equipment, $300,000 in
regenerating accounts receivable, and $200,000 in intangible
assets, including IP and a customer list.

The Debtor argued that secured creditors are adequately protected
by replacement liens and the continued generation of new
receivables. The court's final approval is requested to ensure
uninterrupted business operations and support a successful
restructuring plan.

                      About Jill's Office LLC

Jill's Office, LLC provides professional, US-based 24/7 virtual
receptionist and scheduling services designed to support businesses
across various industries. The Company offers a range of services,
including inbound call answering, appointment scheduling, live chat
support for websites, and automated lead follow-ups (Lead Zap).
Jill's Office specializes in delivering tailored, seamless
communication solutions that enhance customer engagement while
eliminating the need for businesses to hire in-house staff. The
Company serves industries such as home services, real estate,
health and wellness, finance, legal, and small businesses. Its
mission is to ensure that businesses never miss calls or
opportunities, offering reliable customer service around the
clock.

Jill's Office filed Chapter 11 petition (Bankr. D. Utah Case No.
25-21625) on March 27, 2025, listing up to $500,000 in assets and
up to $10 million in liabilities. Brant Thurgood, member manager,
signed the petition.

Judge Peggy Hunt oversees the case.

T. Edward Cundick, Esq., at Workman Nydegger, represents the Debtor
as counsel.


KELSO INDUSTRIES: Cliffwater Corporate Marks $3.2MM Loan at 55% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,238,333
loan extended to Kelso Industries LLC to market at $1,444,127 or
45% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Kelso Industries
LLC. The loan accrues interest at a rate of 10.07% per annum. The
loan matures on December 30, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

About Kelso Industries LLC

Kelso Industries LLC provide HVAC, mechanical, refrigeration,
controls & automation, plumbing, electrical, engineering, and
energy services all througout the U.S.


KENG ACQUISITION: Cliffwater Corporate Marks $9MM Loan at 39% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $9,043,154
loan extended to KENG Acquisition, Inc. to market at $5,524,047 or
61% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to KENG Acquisition,
Inc. The loan accrues interest at a rate of 9.32% per annum. The
loan matures on August 7, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About KENG Acquisition, Inc.

KENG Acquisition, Inc. is engaged in providing investment solutions
and services.


KEYSTONE PARTNERS: Cliffwater Marks $613,000 Loan at 62% Off
------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $613,000
loan extended to Keystone Partners, LLC to market at $236,005 or
39% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Keystone Partners,
LLC. The loan accrues interest at a rate of 9.55% per annum. The
loan matures on October  25, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

              About Keystone Partners, LLC

Keystone Partners LLC is a premier middle market for merger and
acquisition advisory firm for business sales, mergers and
acquisitions.


KLE EQUIPMENT: Seeks to Sell Vehicles and Trailers
--------------------------------------------------
KLE Equipment Leasing LLC and its affiliates, Olson Equipment
Leasing, LLC, and ECI, Inc., seek permission from the U.S.
Bankruptcy Court for the Eastern District of Wisconsin, to sell
vehicles and trailers, free and clear of liens, interests, and
encumbrances.

Collectively, the Debtors operate transportation, logistics and
commercial motor vehicle leasing businesses.

The Debtors had equipment that was not necessary to provide
services to their customers. Much of the equipment was purchased as
a part of the acquisition of Elite Carriers' business in 2022.

Throughout the existence of the Debtors business since 2007, the
Debtors regularly have been buying and selling equipment –
semi-tractors and trailers. The Debtors seek to pay all creditors
in full.

BMO Bank, N.A. holds a lien of the vehicles and the sales price for
each vehicle either will be
sufficient so that the net receipts paid to BMO are at least 95% of
the amount listed for the vehicle or have the consent of BMO, and
will provide the confirmation to the buyer that the title will be
released upon payment of the proposed price.

Other creditors that have consented to the sale include Ascentium
Capital LLC, Daimler Truck Financial Services LLC, De Lage Landen
Financial Services, Inc., Equify Risk Services, LLC dba Equify
Financial, GM Financial Leasing, Huntington National Bank,
Mitsubishi HC Capital America, Inc., Siemens Financial Services,
Inc., Stoughton Trailers Acceptance Corp., Volvo Financial
Services, Wallwork Financial Corporation, and Wells Fargo Equipment
Finance.

The Debtors propose selling equipment as they have historically
done by utilizing online services and other methods. The Debtors
have no interest in quick sales that do not maximize value.

The Debtors believe that it need to control the sales process.
Otherwise, BMO could accept a low price and look to the Debtors to
pay the resulting inflated unsecured deficiency claims resulting
from fire sale prices, which are detrimental to the Debtors'
estates.

Because there may be an occasional piece of equipment that has a
lower value, the Debtors seek a 5% variance from BMO's represented
values. Additionally, if for some reason a sale must be lower than
5%, the Debtors will seek BMO's agreement for the sale.

The Debtors assert that it is in the best position to market and
sell the trucks and trailers for the
highest and best prices and is in the best position to determine
which trucks and trailers should be sold or kept based upon the
offers from potential buyers.

            About KLE Equipment Leasing LLC

KLE Equipment Leasing, LLC is a Wisconsin-based equipment leasing
company headquartered in Neenah.

KLE Equipment Leasing sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-22922) on May 21,
2025. In its petition, the Debtor reported between $10 million and
$50 million in both assets and liabilities.

Judge G. Michael Halfenger handles the case.

The Debtor is represented by Nicholas Kerkman, Esq. and Jerome R.
Kerkman, Esq., at Kerkman & Dunn.


KOLSTEIN MUSIC: Files Emergency Bid to Use Cash Collateral
----------------------------------------------------------
Kolstein Music, Inc. asked the U.S. Bankruptcy Court for the Middle
District of Florida, Orlando Division, for authority to use cash
collateral.

The cash collateral, which the Debtor seeks to use is comprised of
cash on hand and funds to be received during normal operations,
which may be encumbered by the lien of the U.S. Small Business
Administration.  

The Debtor requires this cash to continue operations, including
paying payroll, suppliers, and other operating costs.

To protect SBA's interests, the Debtor proposed granting SBA a
replacement lien on any post-petition cash collateral used. The
Debtor argued that the use of the cash collateral is essential to
avoid halting operations, which would negatively impact the
business and creditors.

The Debtor further requested that the court authorize use of cash
collateral under the terms of the budget, allowing for up to a 10%
variance per line item, and any additional amounts subject to SBA's
approval.

                  About Kolstein Music, Inc.

Kolstein Music, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03511) on June 8,
2025. In the petition signed by Manny Alvarez, sole shareholder,
the Debtor disclosed up to $1 million in both assets and
liabilities.

Judge Tiffany P. Geyer oversees the case.

Daniel A. Velasquez, Esq., at Latham Luna Eden and Beaudine LLP,
represents the Debtor as legal counsel.


LAV GEAR: Cliffwater Corporate Marks $14.7 Million Loan at 14% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$14,775,000 loan extended to Lav Gear Holdings, Inc. to market at
$12,702,067 or 86% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan Loan to Lav Gear
Holdings, Inc. The loan accrues interest at a rate of 10.70% per
annum. The loan matures on October 31, 2025.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About Lav Gear Holdings, Inc.

Lav Gear Holdings, Inc. operates as a holding company. The Company,
through its subsidiaries, provides commercial equipment rental
services.


LAV GEAR: Cliffwater Corporate Marks $5.2MM 1L Loan at 14% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,256,681
loan extended to Lav Gear Holdings, Inc. to market at $4,519,169 or
86% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a  First Lien Term Loan to Lav Gear
Holdings, Inc. The loan accrues interest at a rate of 10.70% per
annum. The loan matures on October 31, 2025.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Lav Gear Holdings, Inc.

Lav Gear Holdings, Inc. operates as a holding company. The Company,
through its subsidiaries, provides commercial equipment rental
services.


LAV GEAR: Cliffwater Corporate Marks $6.8 Million Loan at 14% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $6,895,000
loan extended to Lav Gear Holdings, Inc. to market at $5,927,631 or
86% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan Loan to Lav Gear
Holdings, Inc. The loan accrues interest at a rate of 10.72% per
annum. The loan matures on October 31, 2025.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About Lav Gear Holdings, Inc.

Lav Gear Holdings, Inc. operates as a holding company. The Company,
through its subsidiaries, provides commercial equipment rental
services.


LAV GEAR: Cliffwater Corporate Marks $743,000 1L Loan at 14% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $743,720
loan extended to Lav Gear Holdings, Inc. to market at $639,376 or
86% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a First Lien Term Loan to Lav Gear
Holdings, Inc. The loan accrues interest at a rate of 10% per
annum. The loan matures on October 31, 2025.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About Lav Gear Holdings, Inc.

Lav Gear Holdings, Inc. operates as a holding company. The Company,
through its subsidiaries, provides commercial equipment rental
services.


LI-CYCLE AMERICAS: Chapter 15 Case Summary
------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 15 of the Bankruptcy Code:

     Debtor                                       Case No.
     ------                                       --------  
     Li-Cycle Americas Corp.                      25-11359
     66 Wellington Street West, Suite 5300
     Toronto, Ontario M5K 1E6
     Canada

     Li-Cycle Corp.                               25-11350

Business Description:     Li-Cycle Americas Corp. is an affiliate
                          of Li-Cycle Holdings Corp., a Toronto-
                          based company engaged in lithium-ion
                          battery resource recovery.  It operates
                          as part of a network focused on
                          reclaiming critical materials from end
                          -of-life batteries in North America.

Chapter 15 Petition Date: June 17, 2025

Court:                    United States Bankruptcy Court
                          Southern District of New York

Judge:                    Hon. Philip Bentley

Foreign Representative:   William E. Aziz
                          32 Shorewood Place
                          Oakville Ontario L6K 3Y4
                          Canada

Foreign Proceeding:       In The Matter Of The Companies'
                          Creditors Arrangement Act, R.S.C. 1985,
                          C. C-36, As Amended And In The Matter Of
                          A Proposed Plan Of Compromise Or
                          Arrangement With Respect To Li-Cycle
                          Holdings Corp., Li-Cycle Corp., Li-Cycle

                          Americas Corp., Li-Cycle U.S. Inc., Li-
                          Cycle Inc., Li-Cycle North America Hub,
                          Inc

Foreign
Representative's
Counsel:                  Madlyn Gleich Primoff, Esq.
                          Henry V. Hutten, Esq.
                          Alexander Adams Rich, Esq.
                          Sarah R. Margolis, Esq.
                          FRESHFIELDS US LLP
                          175 Greenwich Street, 51st Floor
                          New York, NY 10007
                          Tel: (212) 277-4000
                          Fax: (212) 277-4001
                          Email: madlyn.primoff@freshfields.com
                                 henry.hutten@freshfields.com
                                 alexander.rich@freshfields.com
                                 sarah.margolis@freshfields.com

Estimated Assets:         Unknown
  
Estimated Debt:           Unknown

A full-text copy of Li-Cycle Americas' Chapter 15 petition is
available for free on PacerMonitor at:

https://www.pacermonitor.com/view/GYIBXQI/Li-Cycle_Americas_Corp_and_William__nysbke-25-11359__0001.0.pdf?mcid=tGE4TAMA

The Foreign Representative filed a motion requesting that the
Chapter 15 cases be jointly administered under the docket of
Li-Cycle Holdings Corp. (Case No. 25-10991) for procedural purposes
only.


LIFE TIME: S&P Upgrades LT ICR to 'BB-' on Strong Performance
-------------------------------------------------------------
S&P Global Ratings raised its long-term issuer credit rating on
fitness company Life Time Inc. to 'BB-' from 'B+'. At the same
time, S&P raised its rating on its senior secured debt to 'BB+'
from 'BB'.

The positive outlook incorporates S&P's expectations for increases
in Life Time's revenue, EBITDA, and cash flow to reduce S&P Global
Ratings-lease-adjusted leverage to the high-3x area this year.

Life Time continues to exhibit strong performance with good
underlying demand and membership trends driving EBITDA growth and
leverage reduction. S&P expects the company will increase revenue
12%-15%, in line with management's guidance for 2025.

Financial sponsors Leonard Green Partners (LGP) and TPG Inc.
recently reduced their equity stake in Life Time reducing the
Voting Group's (which includes LGP, TPG, other financial sponsors,
and CEO Bahram Akradi) control to 43.1%. While the group of
financial sponsors are still in control of the board, we expect we
will no longer view Life Time as a financial sponsor-controlled
company after its one-year transition to comply with the corporate
governance requirements of the New York Stock Exchange (NYSE) to
establish a majority independent board.

The upgrade and positive outlook reflect continued anticipated
strong operating performance and reduced leverage over the next 12
months. S&P said, "Life Time outperformed our operating
expectations in the first quarter of 2025 due to solid growth in
its center memberships and dues, strong member engagement, and good
demand for in-center offerings. In addition, Life Time recently
lowered its financial policy target to net leverage of 2x or below
from 2.25x. Life Time's net debt to EBITDA measure does not include
a lease adjustment and is typically about 2x lower than our
lease-adjusted measure. Supported by the 18% expansion in revenue
and 31% increase in adjusted EBITDA over the prior quarter, the
company raised its full year guidance for 2025, citing strong
member engagement with visits and revenue per membership at new
highs coupled with strong performance at ramping-up clubs. We
believe Life Time's offering of high-end health clubs full of
amenities will continue to resonate with high-end fitness consumers
and fitness enthusiasts."

S&P said, "Under our base-case forecast, we assume Life Time will
continue to increase its memberships by the mid-single-digit
percent area in 2025 and in 2026 as it opens additional locations.
We also expect the company will increase its average monthly per
member spending this year while improving revenue from personal
training and other amenities by the low teens-digit percent area,
leading to a 12%-15% expansion in total revenue in 2025. The high
flow-through of incremental revenue to Life Time's EBITDA--due to
its good coverage of its fixed-charge base and efficient cost
structure--supports a forecast S&P Global Ratings-adjusted EBITDA
margin in the mid-30% area. We expect the company to reduce
leverage in 2025 to the high-3x area and potentially to the low-3x
area by 2026 depending upon management's capital allocation
decisions.

"The upgrade also reflects our assumption financial sponsors LGP
and TPG will continue to reduce their stakes over time and Life
Time's stated target to reduce its measure of net leverage to 2x or
below. Life Time's financial sponsors, LGP and TPG, reduced their
ownership through a secondary offering in June 2025. As a result,
the Voting Group, which consists of financial sponsors and the
company's CEO Bahram Akradi was diminished to 43.1% from its
previous controlling share of 52.3%. While they still control the
board, we expect the company will make the majority of its board
and committee members independent after a one-year transition as
required under NYSE corporate governance rules to establish a
majority independent board.

"The company's measure of leverage does not include leases, and we
currently do not net cash, which results in just under a 2x
difference between management's calculation and our gross
lease-adjusted figure. We expect Life Time will further reduce its
policy measure of leverage below 2x in 2025, which would translate
to our calculation well below our 4.5x upgrade threshold at the
previous 'B+' rating. Once we no longer assess Life Time as being
sufficiently influenced by financial sponsors, which we are
currently assuming in our base case will occur over the next 12
months once Life Time complies with the NYSE corporate governance
rules establishing a majority independent board, we will begin to
net cash against gross debt. This would modestly decrease our
leverage measure. In the interim, we believe the sponsors will
remain motivated to support the company's current growth and
deleveraging strategy because it plausibly increases equity returns
over time more than a leveraging transaction, at least as long as
Life Time continues to deliver gains in revenue, EBITDA, and cash
flow that we currently forecast in our base case.

"While we expect minimal free operating cash flow, we anticipate a
strong return on investment from Life Time's new locations. We
assume $650 million-$700 million annual capital expenditure (capex)
in 2025 to develop 10-12 clubs and that the company will continue
to open new clubs at this pace as part of its high growth strategy.
Our base case assumes that Life Time can finance this capex with
internally generated cash flow, which will enable it to maintain
its rapid growth strategy by taking advantage of the significant
white space across the U.S., strong demand stemming from consumers'
continued focus on health and wellness, and its luxury product.
While the company has significantly diminished its reliance on
sale-leaseback transactions to expand over the past few years, it
still entails some incremental financing risk to the extent the
timing of new builds depends on external financing sources. Still,
we believe its high return on investment from its growth strategy
is due to new locations ramping up quickly and strong underlying
demand for its fitness club concept."

A worse-than-anticipated macroeconomic environment in the U.S. and
elevated competitive pressure could lead to weaker-than-expected
revenue and margins. While S&P's base-case forecast assumes good
revenue and EBITDA growth in 2025 and 2026, it believes a currently
unanticipated recession could cause the company to underperform its
revenue and EBITDA forecast. In addition, inflationary pressure
could weaken EBITDA margin and reduce cash flow if Life Time cannot
offset cost increases by expanding its membership base or raising
membership prices. Competition from mid-tier and low-cost fitness
operators could also exacerbate these pressures.

However, there has been an ongoing shift in consumer spending
toward experiences and in-person fitness options, which may
mitigate macroeconomic pressures. Life Time is continuously
enhancing its clubs across its wide geographic footprint to provide
additional value to its members through ancillary offerings such as
Dynamic Stretch and MIORA. The company implemented these changes in
response to its members' growing desire to holistically integrate
health and wellness into their fitness experience. These factors
could help mitigate the risk that consumers will trade down to
lower-cost fitness operations amid a potentially challenging
economic environment.

The positive outlook on Life Time incorporates our expectations for
revenue and EBITDA growth, and for S&P Global
Ratings-lease-adjusted leverage to decrease to the high-3x area in
2025 and potentially to the mid- to low-3x-area in 2026 depending
upon capital allocation decisions.

S&P could revise its outlook on Life Time to stable if S&P no
longer believe it will sustain S&P Global Ratings-adjusted leverage
below 3.75x, which could occur due to some combination of a
pullback in memberships, leveraging mergers and acquisitions (M&A),
or leveraging shareholder distributions.

S&P could lower its rating or revise our outlook to negative if it
believes it will sustain S&P Global Ratings-adjusted leverage of
above 4.5x.

S&P could upgrade Life Time one notch if it maintains its solid
growth trajectory and achieves and sustains S&P Global
Ratings-lease-adjusted leverage of comfortably below 3.75x after
incorporating potential shareholder distributions or M&A.


LONESTAR FIBERGLASS: Seeks to Hire Lucove Say & Co. as Accountant
-----------------------------------------------------------------
Lonestar Fiberglass Components of Texas, LLC seeks approval from
the U.S. Bankruptcy Court for the Western District of Texas to hire
Lucove Say & Co. as certified public accountant.

The firm will render these services:

     a. review financial status and to determine those accounting
and financial changes which are appropriate and necessary;

     b. prepare tax returns, to handle audits and to take steps
necessary to reduce the estate's liabilities;

     c. review and as necessary revise the existing projection of
revenues, costs of goods sold, expenses, net income, plan payments
and cash flow for the Debtor's Plan;

     d. render other accountancy services for which services of an
accountant may be necessary during the pendency of this case.

The firm will be paid at these rates:

     Richard Say, CPA     $300 per hour
     Cameron Say, CPA     $200 per hour

The firm received a retainer in the amount of $7,500.

Richard Say, CPA, a principal of CPAs, assured the court the firm
is a "disinterested person" within the meaning of 11 U.S.C.
101(14).

The firm can be reached through:

     Richard Say, CPA
     Lucove Say & Co.
     23901 Calabasas Road #2085
     Calabasas, CA 91302
     Phone: (818) 224-4411
     Fax: (818) 225-7054

        About LoneStar Fiberglass

Lonestar Fiberglass Components of Texas, LLC manufactures
fiberglass swimming pools and spas and sells them directly and
through dealers. The company is based in New Braunfels, Texas.

Lonestar filed Chapter 11 petition (Bankr. W.D. Texas Case
No.24-52593) on December 19, 2024, listing up to $10 million in
both assets and liabilities. Chris Owens, managing member,
signedthe petition.

Judge Michael M. Parker oversees the case.

The Debtor is represented by Morris Eugene White, III, Esq. at
Villa & White, LLP.

Comerica Bank, as creditor, is represented by:

   Richard G. Dafoe, Esq.
   Waddell Serafino Geary Rechner Jenevein, PC
   1717 Main Street, 25th floor
   Dallas, TX 75201
   Tel: (214) 979-7400
   Email: rdafoe@wslawpc.com



MACADAMIA BEAUTY: Hires Driver Stephenson as Substitute Counsel
---------------------------------------------------------------
Macadamia Beauty, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Texas to employ Driver Stephenson, PLLC
as substitute counsel.

The Debtor's counsel is currently Elliott, Thomason & Gibson, LLP.
Attorneys Christina Stephenson and Vickie Driver have recently left
ETG to start Driver Stephenson, PLLC.

The firm will render these services:

      a. serve as counsel of record for the Debtor in all legal
aspects of this Bankruptcy Case, including without limitation, the
prosecution of actions on behalf of the Debtor;

      b. prepare pleadings in connection with the Bankruptcy Case;
and

      c. appear before the Court to represent the interests of the
Debtor in connection with the Bankruptcy Case.

DriverStep's standard hourly rates are:

     Vickie Driver                $895
     Christina Stephenson         $845
     Associates and Counsel   $425 to $650
     Paraprofessionals            $295

The firm asked to a $50,000 post-petition retainer.

Ms. Stephenson assured the court that Driver Stephenson is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code, and neither represents nor holds an
interest materially adverse to the interests of the Debtor, or its
estate.

The firm can be reached through:

     Vickie L. Driver, Esq.
     Christina W. Stephenson, Esq.
     DRIVER STEPHENSON, PLLC
     13155 Noel Road, Ste. 900
     Dallas, TX 75240
     Telephone: (214) 910-9558
     Email: vickie@driversteplaw.com
            crissie@driversteplaw.com

          About Macadamia Beauty, LLC

Macadamia Beauty LLC -- https://www.macadamiahair.com -- is an
oil-based hair repair company based in Plano, Texas. Its unique
oil-infused hair repair products effectively address the most
common hair dissatisfactions among women: breakage, frizz, damage,
and dryness.

Macadamia Beauty LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-41929) on
August 19, 2024. In the petition filed by Henry Stein, as CEO, the
Debtor reports estimated assets and liabilities between $1 million
and $10 million each.

The Debtor is represented by Frances A. Smith, Esq. at ROSS, SMITH
& BINFORD, PC.


MAGENS POINT: Case Summary & Nine Unsecured Creditors
-----------------------------------------------------
Debtor: Magens Point Inc.
        6200 Magens Bay Road
        St Thomas, VI 00802

Business Description: Magens Point Inc. owns real estate located
                      at 6200 Magens Bay Road in St. Thomas, U.S.
                      Virgin Islands.  The Company holds fee
                      simple title to parcels identified as 7 and
                      7A Estate St. Joseph and Rosendahl, situated
                      in the Great Northside Quarter.  The
                      properties are part of a hillside area near
                      Magens Bay.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       District of Virgin Islands

Case No.: 25-30002

Judge: Hon. Mary F. Walrath

Debtor's Counsel: Kevin F. D'Amour, Esq.
                  BARNES, D'AMOUR & VOGEL
                  5143 Palm Passage
                  Suite 20C & 21C
                  St Thomas, VI 00802
                  Tel: 340-776-0777
                  E-mail: kdamour@usvilawfirm.com

Total Assets: $0

Total Liabilities: $10,274,096

The petition was signed by Michael Shelby as president.

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

https://www.pacermonitor.com/view/AHHP4YQ/Magens_Point_Inc__vibke-25-30002__0001.0.pdf?mcid=tGE4TAMA


MANAGEMENT CONSULTING: Cliffwater Marks $1.4MM Loan at 87% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,458,686
loan extended to Marina Acquisition, Inc. to market at $187,430 or
13% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Marina Acquisition,
Inc. The loan accrues interest at a rate of 11.50% per annum. The
loan matures on July 1, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

         About Marina Acquisition, Inc.

Marine Acquisitions, Inc provides shipbuilding services.


MANAGEMENT CONSULTING: Cliffwater Marks $4 Million Loan at 88% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,077,061
loan extended to Management Consulting & Research, LLC to market at
$486,095 or 12% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Management Consulting
& Research, LLC. The loan accrues interest at a rate of 9.26% per
annum. The loan matures on August 16, 2027.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

            About Management Consulting & Research, LLC

Management Consulting & Research LLC provides professional
services. The Company serves customers in the United States.


MANE SOURCE: Unsecured Creditors to Split $91,500 over 6 Years
--------------------------------------------------------------
Mane Source Counseling, PLLC filed with the U.S. Bankruptcy Court
for the Eastern District of North Carolina a Disclosure Statement
describing Chapter 11 Plan dated June 5, 2025.

The Debtor is a North Carolina professional limited liability
company which operates a counseling practice on a farm outside
Greenville, North Carolina, including both traditional and equine
therapy.

Cheryl Meola is the sole member of Mane Source Counseling, PLLC,
and the licensed clinician overseeing the operations of the Debtor.
The Debtor filed Chapter 11 to continue operations while
simultaneously restructuring its debt, and paying as much of its
debt as is feasible.

Upon confirmation of this Plan, Debtor will continue to operate and
make plan payments from funds available after the payment of
operating expenses. Debtor has continued to operate with a net
profit during the course of the bankruptcy, and hired one
additional part-time clinician. Over the course of the next six
months, Debtor anticipates hiring one to two additional clinicians
to offer therapy services for the Debtor. Addition of these
clinicians is anticipated to increase the net profit of the
Debtor.

Class 6 consists of Allowed General Unsecured Claims. Class 6
Claims shall be paid quarterly for six years as follows until the
Class 6 claims are paid in full or a maximum amount of $91,500 has
been paid:

   Year 1: Quarterly payments of $375
   Years 2: Quarterly Payments of $2,500
   Years 3-6: Quarterly Payments of $5,000

The Debtor estimates that Class 6 claims currently total
$333,482.59 based on scheduled claims and filed proof of claim, but
that this number will be reduced due to disputes and claims
objections.

Class 7 shall be comprised of the interest of equity holders.
Equity holders shall retain their equity interests.
  
The Bankruptcy Code requires, as a condition to confirmation, that
confirmation of a plan is not likely to be followed by the
liquidation (unless the plan calls for liquidation) or the need for
further financial reorganization. The debtor believes that the Plan
is feasible, and has attached as Exhibit B simple financial
projections for the next 4 years to demonstrate that feasibility.

The Plan will be consummated and distributions made if the Plan is
confirmed pursuant to a Final Order of the Bankruptcy Court. It
will not be necessary for the Debtor to await any required
regulatory approvals from agencies or departments of the United
States Government to consummate the Plan. The Plan will be
implemented pursuant to its provisions and the provisions of the
Bankruptcy Code.

A full-text copy of the Disclosure Statement dated June 5, 2025 is
available at https://urlcurt.com/u?l=5JT9ZK from PacerMonitor.com
at no charge.

        About Mane Source Counseling PLLC

Mane Source Counseling, PLLC provides counseling and wellness
services with the help of five horses used in therapy sessions.

Mane Source Counseling sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-00833) on March
7, 2025, listing up to $500,000 in assets and up to $1 million in
liabilities. Cheryl Meola, company owner, signed the petition.

Judge David M. Warren oversees the case.

The Debtor is represented by:

   Kathleen O'Malley, Esq.
   Stevens Martin Vaughn & Tadych, PLLC
   2225 W. Millbrook Road
   Raleigh, NC 27612
   Phone: 919-582-2300
   Fax: (866) 593-7695
   Email: komalley@smvt.com


MARKON LLC: Cliffwater Corporate Marks $2.5 Million Loan at 54% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,500,000
loan extended to Markon, LLC to market at $1,151,655 or 46% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Revolver Loan to Markon, LLC. The loan
accrues interest at a rate of 8.8% per annum. The loan matures on
November 5, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About Markon, LLC

Markon is a national consulting firm with a federal government
focus, specializing in enterprise technology, business operations,
and critical infrastructure for the Intelligence Community and
civilian and defense agencies.


MARMIC FIRE: Cliffwater Corporate Marks $7.2MM Loan at 74% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $7,247,437
loan extended to Marmic Fire & Life Safety Co. to market at
$1,865,457 or 26% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Marmic Fire & Life
Safety Co. The loan accrues interest at a rate of 9.05% per annum.
The loan matures on July 24, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

            About Marmic Fire & Life Safety Co.

Marmic Fire & Life Safety Co. is engaged in providing end-to-end
installation services, ensuring all components—from extinguishers
and sprinklers to surveillance cameras and access control hardware.



MAXEON SOLAR: Dr. Teo Tong Kooi Joins Board
-------------------------------------------
Maxeon Solar Technologies, Ltd disclosed in a Form 6-K Report filed
with the U.S. Securities and Exchange Commission that David Li and
Kris Sennesael, each an independent non-executive director on the
Board of Directors of the Company, have both resigned from the
Board and as a member or chairman, as the case may be, of the Audit
Committee, the Compensation Committee, the Strategy and
Transformation Committee and the Nominating and Corporate
Governance Committee, with effect from June 1, 2025.

On May 29, 2025, the Board appointed Dr. Teo Tong Kooi to serve as
a member of the Board and as a member of the Audit Committee, the
Compensation Committee, the Strategy and Transformation Committee
and the Nominating and Corporate Governance Committee, with effect
from June 1, 2025.

Dr. Teo Tong Kooi serves as an independent non-executive director
on Maxeon's Board of Directors and is a member of its Audit
Committee, Compensation Committee, Strategy and Transformation
Committee, and Nominating and Corporate Governance Committee. Dr.
Teo currently is an independent director of China Automotive
Systems Inc. (NASDAQ: CAAS), and UOB KayHian Securities (M) Sdn
Bhd. He has served as an independent non-executive director of Bank
of America Malaysia. In the private equity sector, he was an
Investment Committee Member of Isola Capital Ltd. in Hong Kong.
Earlier in his career, he served as a Committee Member for SMEs on
the Debt Restructuring Committee of Bank Negara Malaysia. Dr. Teo
has held multiple senior leadership roles across Asia, including as
Chief Executive Officer of DPS Advisory Company Ltd. in China,
Group Managing Director of Guocoland China Ltd., and Chief
Executive Officer of WCT Holdings Bhd for its China and Vietnam
operations. He was also Chief Executive Officer of Hong Leong Asia
Ltd. (SGX-listed), and Group Managing Director of Tasek Corporation
Bhd (Bursa Malaysia-listed). His earlier banking experience
includes roles at Hong Leong Bank Malaysia, Deutsche Bank Malaysia,
and United Malayan Banking Corporation. Dr. Teo holds a Doctorate
in Professional Studies in Management from New York's Fordham
University in collaboration with Peking University, a Master of
Business Administration from Golden Gate University in San
Francisco, and a Bachelor of Science in Marketing Management from
the same institution.

Changes to the Board of Directors:

In accordance with Section 2(b) of the Amended and Restated
Shareholders Agreement dated August 30, 2024, and upon receiving a
Letter of Notification on June 4, 2025 from Zhonghuan Singapore
Investment and Development Pte. Ltd., Maxeon's majority shareholder
("TZE"), exercising its rights under Section 2(b) of the A&R SHA,
the Board shall now consist of nine directors, which shall comprise
the Chief Executive Officer of the Company, three independent
directors, and five designees of TZE, and has no vacancies.
Pursuant to Section 2(h) of the A&R SHA, each committee of the
Board shall also include a number of designees of the Shareholder
such that these designees constitute a majority of such committee,
except (A) the Audit Committee which is comprised only of
independent directors and (B) in case of the Nominating And
Corporate Governance Committee, there will be one designee of TZE
who will serve as the chairman of such committee.

                        About Maxeon Solar

Maxeon Solar Technologies, Ltd. is a Singapore-based company that
designs and manufactures photovoltaic panels. The company was
previously a division of the American SunPower company before it
was spun off in August 2020. Maxeon is still the primary provider
of solar panels for SunPower.

Singapore-based Ernst & Young LLP, the Company's auditor since
2020, issued a "going concern" qualification in its report dated
May 30, 2024, citing that the Company has suffered recurring losses
from operations and negative free cash flows and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.


MY SIZE: Cuts Option Exercise Price for Officers, Directors
-----------------------------------------------------------
My Size, Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that the Compensation Committee
of the Board of Directors reduced the exercise price of outstanding
options of certain employees, officers and directors of the Company
for the purchase of an aggregate of 13,926 shares of common stock,
par value $0.001 per share, of the Company (with exercise prices
ranging from $3.832 to $8.72 per Share) to $1.28 per Share, which
was the closing price for the Company's Shares on June 4, 2025. The
exercise price reduction includes options held by, among others,
the Company's named executive officers with respect to the
following number of Shares:

     (i) Ronen Luzon, the Company's Chief Executive Officer and
director: 800 Shares,
    (ii) Or Kles, the Company's former Chief Financial Officer: 650
Shares, and
   (iii) Billy Pardo, the Company's Chief Product Officer and Chief
Operating Officer: 650 Shares.

In addition, in recognition of Mr. Kles's dedicated service to the
Company, the Compensation Committee of the Board of Directors of
the Company accelerated the vesting of the unvested portion of the
18,750 restricted shares held by Mr. Kles such that as of Mr.
Kles's termination of service on March 31, 2025, the restricted
shares are deemed fully vested.

                        About MySize, Inc.

Airport City, Israel-based My Size, Inc. (NASDAQ: MYSZ) --
http://www.mysizeid.com/-- is an omnichannel e-commerce platform
and provider of AI-driven measurement solutions that drive revenue
growth and reduce costs for online retailers while generating big
data and machine learning analytics.

Tel Aviv, Israel-based Somekh Chaikin, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
Mar. 27, 2025, citing that the Company has incurred significant
losses and negative cash flows from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

As of Dec. 31, 2024, the Company had $10.1 million in total assets,
$3.2 million in total liabilities, and a total stockholders' equity
of $6.9 million.


NOVA LIFESTYLE: All Proposals Approved at 2025 Shareholder Meeting
------------------------------------------------------------------
Nova LifeStyle, Inc. held its 2025 Annual Meeting of Shareholders
during which its shareholders:

   1. Elected Min Su, Thanh H. Lam, Ming-Cherng Sky Tsai, Huy
(Charlie) La, Umesh Patel to the Board of Directors of the Company
to serve as directors until the 2026 Annual Meeting of Shareholders
and until their successors have been duly elected and qualified;

   2. Approved and ratified the appointment of Enrome LLP as the
Company's independent registered public accounting firm for the
fiscal year ending December 31, 2025; and

   3. Approved, on an advisory, non-binding basis, the compensation
of the named executive officers.

                       About Nova Lifestyle

Headquartered in Commerce, Calif., Nova LifeStyle, Inc. is a
distributor of contemporary styled residential and commercial
furniture incorporated into a dynamic marketing and sales platform
offering retail as well as online selection and global purchase
fulfillment. The Company monitors popular trends and products to
create design elements that are then integrated into the Company's
product lines that can be used as both stand-alone or whole room
and home furnishing solutions. Through its global network of
retailers, e-commerce platforms, stagers, and hospitality
providers, Nova LifeStyle also sells (through an exclusive
third-party manufacturing partner) a managed variety of
high-quality bedding foundation components.

Singapore-based Enrome LLP, the Company's auditor since 2024,
issued a "going concern" qualification in its report dated March
31, 2025, attached to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2024, citing that the Company
incurred a net loss and operating cash outflow of $5,561,705 and
$1,391,779 respectively for the year ended December 31, 2024 and
accumulated deficit of $49,991,515 for the year ended December 31,
2024. These factors, raise substantial doubt about its ability to
continue as going concern.


NUVEI CORP: S&P Assigns 'B+' ICR, Outlook Negative
--------------------------------------------------
S&P Global Ratings assigned its 'B+' issuer-level rating to payment
services provider Nuvei Corp. with a negative outlook. The 'B+'
rating is unchanged from the prior entity.

The negative outlook reflects the potential for lower ratings if
expected revenue growth and profitability improvements do not
materialize and operating performance is insufficient to support
sustained deleveraging and improving levels of free cash flow
generation.

Nuvei Corp.'s 2024 closing leverage was higher than S&P expected,
and it now projects the company's S&P Global Ratings-adjusted
leverage will approach 6x by the end of 2025, which lags its
previous deleveraging expectations.

S&P said, "We revised our outlook on Neon Maple Purchaser Inc. to
negative, and subsequently withdrew our ratings on this entity,
which was amalgamated into Nuvei.

"We now expect slower deleveraging amid greater-than-expected
expenses and investments. Although we anticipated the close of the
transaction would increase leverage, 2024 year-end S&P Global
Ratings-adjusted leverage of 7.6x was higher than our initial
projection of 6.7x. This was mostly because EBITDA margins fell
below our prior forecast. Increased employee compensation as Nuvei
hired additional sales staff and investments in other areas
contributed to higher than anticipated costs. Additionally, the
company experienced a shift in revenue mix, with an increased
portion of commission-intensive revenue, and increased guarantee
solutions volumes led to higher processing costs. These factors,
along with take-private transaction related expenses that were
higher than we anticipated, collectively reduced S&P Global
Ratings-adjusted EBITDA margin to 25.7% for the year ended 2024,
lower than our previous estimates by nearly 400 basis points (bps).
Given the reduced ratings cushion, the negative outlook reflects
our view that uncertain macroeconomic environment, competitive
pressures, and execution risks related to its sales investments
could lead to sustained higher leverage than we currently
anticipate.

"Still, we continue to expect leverage will decrease to below 6x by
2026, supported by our expectation for improving profit margin and
a prudent financial policy. We project S&P Global Ratings-adjusted
EBITDA margin will improve to about 29.1% in 2025 from 25.7% in
2024, supported by the removal of Nuvei's earlier public-company
costs and roll-off of one-time costs (inclusive of acquisition,
integration and severance costs). While this level would still be
about 200 bps short of our prior forecast, we foresee continued
margin improvement to support its deleveraging path. EBITDA margin
expansion will likely stem from cost optimization initiatives,
which include migration of third-party providers to Nuvei's
platform and consolidation of vendor contracts. Over the longer
term, we think profit margin could be further supported by the
ramp-up of Nuvei's newly added salespersons. Additionally, the
company has maintained a prudent financial policy, and is ahead of
the pace we expected for addressing its employee-related long-term
incentive equity plans (LTIP), which is incorporated into our
adjusted debt calculations. This helps mitigate some of the
negative effect of EBITDA contraction on leverage.

"We think broad tailwinds in the payments industry will sustain
growth over the longer term. We revised our 2025 forecast for
revenue growth downward to about 8% from 12.5% in our December
forecast, partially due to a more challenging macroeconomic
backdrop than previously anticipated. Still, we expect new customer
wins and volume expansion this year will support growth. We also
expect modestly sized acquisitions will continue to help the
company expand into new product lines and geographies.
Additionally, its investments in its direct sales force,
enhancements to its overall go-to-market process, and continued
expansion of its portfolio of product offerings, could provide new
cross-sell opportunities and help capture additional market share
in the future.

"Our negative outlook reflects the potential for lower ratings if
expected revenue growth and profitability improvements do not
materialize and operating performance is insufficient to support
sustained deleveraging and improving levels of free cash flow
generation."

S&P could lower its ratings on Nuvei if S&P expects the company
will sustain S&P Global Ratings-adjusted debt to EBITDA of about 6x
or higher. This could occur if:

-- Its operating performance materially underperforms S&P's
forecast, possibly because of economic weakness, increased
competitive pressures, or operational missteps that increase costs;
or

-- It demonstrates less conservative financial policies than
suggested by management's stated leverage targets, such as pursuing
significant debt-financed acquisitions.

S&P could revise the outlook to stable with revenue improvements,
EBITDA margin expansion, or falling debt levels such that it
expects leverage sustained below 6x.



ODS INC: Seeks Chapter 11 Bankruptcy in New Jersey
--------------------------------------------------
On June 16, 2025, ODS Inc. filed Chapter 11 protection in the U.S.
Bankruptcy Court for the District of New Jersey. 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 ODS Inc.

ODS Inc. operates a fitness and recreational facility in Glassboro,
New Jersey, offering gym services under the name Four Seasons
Health Club. The Company provides amenities such as cardio and
strength equipment, indoor turf, group exercise classes, and
pickleball courts. It has been in operation since the early 1990s.

ODS Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D.N.J. Case No. 25-16371) on June 16, 2025. In its
petition, the Debtor reports estimated assets up to $50,000 and
estimated liabilities between $1 million and $10 million.

The Debtors are represented by E. Richard Dressel, Esq. at LEX NOVA
LAW, LLC.


ODYSSEY MARINE: Forms JV, Converts Debt to Increase Oceanica Stake
------------------------------------------------------------------
As previously reported, on December 23, 2024, Odyssey Marine
Exploration, Inc., Capital Latinoamericano, S.A. de C.V., and
certain affiliates of the Company entered into a joint venture
agreement pursuant to which the Company and CapLat agreed to form a
joint venture to develop a strategic fertilizer production project
in Mexico, building on the work completed by the Company to
validate a high-quality subsea phosphate resource within Mexico's
exclusive economic zone.

The Company previously held an indirect 56.14% interest in Oceanica
Resources, S. de R.L., a Panamanian company, and recently organized
Oceanica Resources Mexico, S. de R.L. de C.V., a Mexican company,
as a subsidiary of the Company. The Company caused or will cause
Oceanica Mexico to enter into agreements with the members of
Oceanica Panama whereby such members will exchange their equity
interests in Oceanica Panama for equity interests in Oceanica
Mexico, as a result of which:

     (a) Oceanica Panama will be a direct, wholly owned subsidiary
of Oceanica Mexico, and
     (b) such members (including the Company) will hold the same
respective percentages of the equity interests of the Oceanica
Mexico as they previously held of Oceanica Panama.

On June 4, 2025, the joint venture entity was formed in accordance
with the terms of the JV Agreement, with CapLat and Oceanica Mexico
each holding 50% of the equity interests in the JV Entity, and the
JV Entity's shareholders entered into a shareholders' agreement
with terms as set forth in the JV Agreement.

In connection with the formation of the JV Entity, the Company,
CapLat, Oceanica Panama, Oceanica Mexico and Exploraciones
Oceanicas, S. de R.L. de C.V., entered into an amendment to the JV
Agreement on June 5, 2025, pursuant to which, among other things,
Oceanica Mexico was added as a party thereto, and the parties
agreed to make their respective initial capital contributions to
the JV Entity on or prior to June 30, 2025. Also on June 5, 2025,
in accordance with the amendment to the JV Agreement, Oceanica
Panama caused ExO to assign its legal rights to specified mining
concessions held by ExO to the JV Entity.

Capitalization of Intercompany Indebtedness

On June 9, 2025, the Board of Directors of the Company authorized
the Company and its subsidiaries to capitalize certain intercompany
receivables by converting the balance of the receivables into
member interests of Oceanica Panama, which member interests will be
exchanged for equity interests in Oceanica Mexico. The Company or
its subsidiaries will convert up to approximately $137.3 million,
which consists of promissory notes issued by ExO or Oceanica Panama
to the Company or its subsidiaries in the amount of approximately
$132.8 million, and intercompany receivables in the amount of
approximately $4.5 million. In accordance with the terms of the
promissory notes, the debt will be converted at a rate of $2.75 per
Oceanica member interest. Following the conversion and exchange
into equity interests in Oceanica Mexico, the Company will directly
or indirectly hold approximately 69.5% of the equity interests in
Oceanica Mexico.

Additionally, on the same date, the Company's board of directors
approved a proposal pursuant to which seven officers and
administrators of Oceanica Panama or ExO would be entitled to
exchange the Oceanica Panama member interests received or accrued
by them for an aggregate of restricted shares of the Company's
common stock that will vest upon the earliest to occur of the fifth
anniversary of the issuance of the stock and the date on which
certain approvals for the Mexican joint venture project, including
issuance of an environmental permit, are received. Under the terms
of the proposal, the administrators and officers would be entitled
to exchange Oceanica Panama member interests valued at
approximately $1.7 million for shares at a rate equal to the 30-day
volume-weighted average price of the Company's common stock. The
Company expects to enter into equity exchange agreements with each
of the officers and administrators setting forth the terms and
conditions of the exchange. The Company will exchange the member
interests in Oceanica Panama that it receives for equity interests
in Oceanica Mexico, thereby increasing Odyssey's holding of
Oceanica Mexico. The issuance of the shares of the Company's common
stock is a non-public transaction and, as a transaction by an
issuer not involving a public offering, is exempt from registration
under the Securities Act of 1933, as amended, in reliance upon
Section 4(a)(2) of the Securities Act.

                       About Odyssey Marine

Odyssey Marine Exploration, Inc. and its subsidiaries are engaged
in deep-ocean exploration. Their innovative techniques are
currently applied to mineral exploration and other marine survey
and contracted services. The corporate headquarters are in Tampa,
Florida.

Tampa, Fla.-based Grant Thornton LLP, the Company's auditor since
2023, issued a "going concern" qualification in its report dated
March 31, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31, 2024, citing that the Company
incurred a loss from operations of $12 million during the year
ended December 31, 2024, and as of that date, the Company's current
liabilities exceeded its current assets by $16 million and its
total liabilities exceeded its total assets by $79 million. These
conditions, along with other matters, raise substantial doubt about
the Company's ability to continue as a going concern.



ODYSSEY MARINE: Three Proposals OK'd at 2025 Annual Meeting
-----------------------------------------------------------
Odyssey Marine Exploration, Inc. held its Annual Meeting of
Stockholders for the purpose of considering and acting upon the
following matters:

     * To elect five directors of the Company to serve until the
next Annual Meeting of Stockholders and until their successors have
been duly elected and qualified (the "Election Proposal");

     * To ratify the appointment of Grant Thornton LLP as our
independent registered certified public accounting firm for the
fiscal year ending December 31, 2025 (the "Ratification
Proposal");

     * To adopt an amendment to the Company's articles of
incorporation (the "Articles Amendment Proposal"), including the
following sub-proposals:

          (a) a proposal for discretionary authority for the Board
of Directors to file an amendment to our articles of incorporation
to implement an increase in the number of shares of authorized
common stock from 75,000,000 shares to up to 150,000,000 shares or
such lesser number of shares of common stock as determined by the
Board of Directors (the "Authorized Capitalization Proposal"); and

          (b) a proposal for discretionary authority to implement
an up to one for eight reverse stock split whereby each eight (or
such lesser number as is determined by the Board of Directors)
issued and outstanding shares of the Company's common stock would
be combined into one share of the Company's common stock (the
"Reverse Split Proposal").

     * To obtain non-binding advisory approval of the compensation
of our named executive officers (the "Compensation Proposal"); and

     * To transact such other business as may properly come before
the meeting and at any adjournments or postponements thereof.

No other business came before the meeting.

Voting Results

Election Proposal

     With respect to the Election Proposal, the five individuals
named were elected to serve as directors in accordance with the
following vote:

1. Mark D. Gordon

   * For: 10,338,105
   * Withheld: 158,409

2. Mark B. Justh

   * For: 10,273,024
   * Withheld: 223,490

3. Larissa T. Pommeraud

   * For: 10,344,027
   * Withheld: 152,487

4. Jon D. Sawyer

   * For: 10,348,525
   * Withheld: 147,989

5. Todd E. Siegel

   * For: 10,278,940
   * Withheld: 217,574

Ratification Proposal

     With respect to the Ratification Proposal, the stockholders
ratified the appointment of Grant Thornton LLP as the Company's
independent registered public accounting firm. Results of the vote
were as follows:

   * For: 16,757,132
   * Against: 424,977
   * Abstain: 238,657

Articles Amendment Proposal

     With respect to the Authorized Capitalization Proposal, the
proposal did not pass with an affirmative vote of a majority of the
Company's voting power outstanding. The results of the vote were as
follows:

   * For: 14,281,377
   * Against: 2,762,552
   * Abstain: 376,836

     With respect to the Reverse Split Proposal, the proposal did
not pass with an affirmative vote of a majority of the Company's
voting power outstanding. The results of the vote were as follows:

   * For: 13,750,484
   * Against: 3,420,109
   * Abstain: 250,172

Compensation Proposal

     With respect to the Compensation Proposal, the stockholders
approved, on an advisory basis, the compensation of the Company's
named executive officers. The results of the vote were as follows:

   * For: 9,682,617
   * Against: 464,339
   * Abstain: 349,558

Broker Non-Votes

     There were 6,924,252 broker non-votes with respect to the
Election Proposal and the Compensation Proposal. There was one
broker non-vote with respect to the Authorized Capitalization
Proposal. Broker non-votes were not relevant to the Ratification
Proposal.

                       About Odyssey Marine

Odyssey Marine Exploration, Inc. and its subsidiaries are engaged
in deep-ocean exploration. Their innovative techniques are
currently applied to mineral exploration and other marine survey
and contracted services. The corporate headquarters are in Tampa,
Florida.

Tampa, Fla.-based Grant Thornton LLP, the Company's auditor since
2023, issued a "going concern" qualification in its report dated
March 31, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31, 2024, citing that the Company
incurred a loss from operations of $12 million during the year
ended December 31, 2024, and as of that date, the Company's current
liabilities exceeded its current assets by $16 million and its
total liabilities exceeded its total assets by $79 million. These
conditions, along with other matters, raise substantial doubt about
the Company's ability to continue as a going concern.


ONDAS HOLDINGS: Charles & Potomac Holds 4.95% Equity Stake
----------------------------------------------------------
Charles & Potomac Capital, LLC and Joseph V. Popolo disclosed in a
Schedule 13D (Amendment No. 5) filed with the U.S. Securities and
Exchange Commission that as of April 18, 2025, they beneficially
owned a total of 7,699,531 shares of common stock of Ondas Holdings
Inc., representing 4.95% of the company's outstanding common stock.
This amount includes:

     (i) 1,284,245 shares held directly by Popolo,
    (ii) 3,383,244 shares held directly by Charles & Potomac
Capital, LLC,
   (iii) 2,864,542 shares issuable upon exercise of a warrant at
$0.89 held by an affiliated SPV, and
    (iv) 167,500 shares issuable upon exercise of a February 2024
warrant at $1.26 held by Charles & Potomac Capital, LLC.

The total outstanding shares was 152,360,697, as reported by Ondas
Holdings Inc. on June 3, 2025, with an additional 3,032,042 shares
included pursuant to Rule 13d-3 due to exercisable warrants.

Charles & Potomac Capital, LLC may be reached through:

     Phil Rehkemper, President
     Commonwealth Hall at Old Parkland
     3899 Maple Avenue, Suite 100
     Dallas, TX, 75219

A full-text copy of Charles & Potomac's SEC report is available
at:

                  https://tinyurl.com/fs5d6nnh

                        About Ondas Holdings

Marlborough, Mass.-based Ondas Holdings Inc. provides private
wireless data solutions through its subsidiary, Ondas Networks
Inc., and commercial drone solutions through Ondas Autonomous
Systems Inc. (OAS), which includes wholly owned subsidiaries
American Robotics, Inc. and Airobotics LTD. OAS focuses on the
design, development, and marketing of autonomous drone solutions,
while Ondas Networks specializes in proprietary, software-based
wireless broadband technology for both established and emerging
commercial and government markets. Together, Ondas Networks,
American Robotics, and Airobotics deliver enhanced connectivity,
situational awareness, and data collection capabilities to users in
defense, homeland security, public safety, and other critical
industrial and government sectors.

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.

As of Dec. 31, 2024, Ondas Holdings had $109.62 million in total
assets, $73.68 million in total liabilities, $19.36 million in
redeemable noncontrolling interest, and $16.58 million in total
stockholders' equity.


ONYX-FIRE PROTECTION: Cliffwater Marks $15.7MM 1L Loan at 31% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$15,748,416 loan extended to Onyx-Fire Protection Services, Inc. to
market at $10,871,941 or 69% of the outstanding amount, according
to CCLFX's Form N-CSR for the fiscal year ended March 31, 2025,
filed with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a First Lien Term Loan to Onyx-Fire
Protection Services, Inc. The loan accrues interest at a rate of
7.67% per annum. The loan matures on July 31, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

       About Onyx-Fire Protection Services, Inc.

Onyx-Fire Protection Services, Inc. is engaged in providing fire
protection solutions and services.


ONYX-FIRE PROTECTION: Cliffwater Marks $3.1MM Loan at 83% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,149,683
loan extended to Onyx-Fire Protection Services, Inc. to market at
$550,026 or 17% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Onyx-Fire
Protection Services, Inc. The loan accrues interest at a rate of
7.67% per annum. The loan matures on July 31, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

             About Onyx-Fire Protection Services, Inc.

Onyx-Fire Protection Services, Inc. is engaged in providing fire
protection solutions and services.


OPEN THROTTLE: Seeks to Hire Erik Johanson PLLC as Attorney
-----------------------------------------------------------
Open Throttle Inc. seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Erik Johanson PLLC to
handle this Chapter 11 case.

The hourly rates of the firm's counsel and staff are as follows:

     Attorneys                $275 to $395
     Paraprofessional Staff   $125 to $175

The firm received a post-petition retainer in the amount of
$11,738.

Erik Johanson, Esq. 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:

     Erik Johanson, Esq.
     Joseph R. Boyd, Esq.
     Erik Johanson PLLC
     4532 West Beachway Drive
     Tampa, FL 33609
     Telephone: (813) 210-9442
     Email: erik@johanson.law
            jr@johanson.law2148

        About Open Throttle Inc.

Open Throttle Inc., which is engaged in the retail of beverages,
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. M.D. Fl. Case No. 6:25-bk-03433-LVV) on June 4, 2025.

Judge Lori V. Vaughan presides over the case.

Erik Johanson at Erik Johanson PLLC represents the Debtor as legal
counsel.



OPEN THROTTLE: Taps Liquor Loan Management as License Broker
------------------------------------------------------------
Open Throttle Inc. seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Liquor Loan Management,
Inc. as a liquor license broker.

The Debtor requires the services of a liquor license broker to
represent its interests through the closing of the Purchase
Agreement.

The Purchase Agreement provides for a $20,000 brokerage commission
to be shared equally by the parties' respective brokers, which
equates to a 5.19 percent brokerage commission. Should the proposed
transaction not close, the Broker proposes to charge his customary
fee of 7 percent of the gross sale price (for a dual brokerage
transaction) or 5 percent of the gross sale price (for a
transaction where the Broker serves as the sole broker), payment of
which will be made at closing.

Scott Tepper, Esq., president of Scott C. Tepper, P.A., disclosed
in a court filing that his firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The broker can be reached through:

     Scott Tepper, Esq.
     Scott C. Tepper, P.A.
     Liquor Loan Management, Inc.
     120 E Granada Blvd
     Ormond Beach, FL 32176
     Phone: (386) 677-6475

        About Open Throttle Inc.

Open Throttle Inc., which is engaged in the retail of beverages,
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. M.D. Fl. Case No. 6:25-bk-03433-LVV) on June 4, 2025.

Judge Lori V. Vaughan presides over the case.

Erik Johanson at Erik Johanson PLLC represents the Debtor as legal
counsel.


OPTINOSE INC: FMR LLC Holds 1.4% Equity Stake
---------------------------------------------
FMR LLC and Abigail P. Johnson disclosed in a Schedule 13G
(Amendment No. 9) filed with the U.S. Securities and Exchange
Commission that as of May 30, 2025, they beneficially owned
142,254.58 shares of common stock of OptiNose Inc., representing
1.4% of the outstanding class of common stock.

FMR LLC may be reached through:

Stephanie J. Brown, Authorized Representative
245 Summer Street
Boston, Massachusetts 02210
Tel: 617-570-6339

A full-text copy of FMR LLC's SEC report is available at:

                  https://tinyurl.com/2d2vjw5x

                          About OptiNose, Inc.

OptiNose, Inc. -- www.optinose.com -- OptiNose, Inc. --
www.optinose.com -- is a specialty pharmaceutical company based in
Yardley, Pennsylvania, focused on developing and commercializing
products for patients treated by ear, nose and throat (ENT) and
allergy specialists. The Company's first product, XHANCE
(fluticasone propionate) nasal spray, utilizes its proprietary
Exhalation Delivery System (EDS) to treat chronic rhinosinusitis,
including cases with and without nasal polyps. XHANCE delivers
medication to deeper, hard-to-reach areas of the nasal passages,
offering a potential improvement over conventional intranasal
steroids. Optinose also aims for XHANCE to become a standard
maintenance therapy following sinus surgery to enhance patient
outcomes.

Philadelphia. Pa.-based Ernst & Young LLP, the Company's auditor
since 2016, issued a "going concern" qualification in its report
dated Mar. 26, 2025, attached in the Company's Annual Report on
Form 10-K for the year ended Dec. 31, 2024, citing that the Company
has suffered recurring losses from operations, has a working
capital deficiency and expects to not be in compliance with certain
debt covenants, and has stated that substantial doubt exists about
the Company's ability to continue as a going concern.

As of Dec. 31, 2024, the Company had $128.8 million in total
assets, $169.1 million in total liabilities, and a total
stockholders' deficit of $40.4 million.


ORGANON & CO: S&P Affirms 'BB' ICR on Dividend Cut, Outlook Neg.
----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' issuer credit on specialty
pharmaceutical company Organon Inc.

S&P said, "The negative outlook reflects our expectation that while
the company's decision to reduce its dividend indicates its
commitment to deleveraging, we still expect leverage will likely
remain above 4x until the end of 2026 due to higher-than-expected
restructuring costs in 2025.

"We project adjusted leverage will remain above 4x over the next 12
months, but see the potential for leverage around 4x or below by
the end of 2026. While Organon management remains committed to
deleveraging, highlighted by its recent slashing of its annual
dividend to roughly $20 million from $300 million, we project
adjusted leverage will remain elevated over the next year. Factors
include higher-than-expected one-time costs since its 2021 spin-off
from Merck & Co. Inc., increased selling, general, and
administrative costs, and research and development spending to
support the pipeline pressured EBITDA margins through 2023. While
adjusted EBITDA margins improved in 2024, further restructuring
costs to increase efficiency will again pressure margins in 2025.
The company has recently announced $325 million to $375 million of
anticipated restructuring actions and manufacturing separation
costs that will compress adjusted EBITDA margins in 2025 but should
contribute to adjusted EB ITDA margin improving to 32% or above in
2026. The continued weakness in profitability, along with tepid
top-line growth due to continued erosion in the legacy drug
portfolio, will contribute to adjusted leverage remaining above 4x
until the end of 2026.

"Still, business performance remains steady. We expect sales to
remain largely flat to slightly declining in 2025-2026, with
adjusted EBITDA margins declining 200 basis points in 2025 to 27.7%
on increased restructuring charges. We project margins will quickly
recover in 2026, as restructuring charges decline and sales of
higher-margin products such as Nexplanon, VTAMA, and biosimilars
increase. We have not modeled in the effect of potential tariffs
given the uncertainty related to materiality and permanence.
Roughly a quarter of Organon's sales are in the U.S., though
essentially all of its manufacturing is outside the U.S. Still, we
do not believe tariffs will be a significant factor long term.
Organon, like other pharmaceutical companies, have brought
additional inventories into the U.S. that may briefly insulate
earnings. As a result, we expect free operating cash flow to be in
the $800 million to $1 billion area over the next 12-18 months.

"Management remains committed to deleveraging, and its cash flow
remains strong. We believe the company will continue to also
emphasize business development as it seeks to a expand its
portfolio in women's health and biosimilars. Free operating cash
flow will also be weaker in 2025 due to the restructuring
expenses."

Its key challenge over the next several years remains adding newer
products to its pipeline and portfolio as well as expanding its
women's health and biosimilar businesses to offset competitive
headwinds faced by the mature branded generics portfolio. The
company also faces the looming loss of exclusivity in 2027 on its
lead product, Nexplanon. S&P said, "Thus, we believe business
development will remain a focus. Given Organon's unproven track
record of successfully acquiring attractive assets and launching
new products, we view this strategy as somewhat risky, but needed
to support future growth of the business."

S&P said, "The negative outlook reflects our expectation that while
the company's decision to reduce its dividend indicates its
commitment to deleveraging, we still expect leverage will likely
remain above 4x until the end of 2026 due to higher-than-expected
restructuring costs in 2025.

"We could lower the rating if we expect debt to EBITDA to be
sustained above 4x beyond the next 12 months. This could occur from
a combination of aggressive acquisition activity, accelerated sales
deterioration of established products, or higher-than-expected
restructuring costs that further compress adjusted EBITDA margin.

"We could revise the outlook to stable if adjusted debt to EBITDA
decreases below 4x and we expect it to remain there, despite
potential acquisitions and the upcoming 2027 patent expiration on
Nexplanon."



ORION GROUP: Cliffwater Corporate Marks $21.6MM Loan at 25% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$21,630,197 loan extended to Orion Group FM Holdings, LLC  to
market at $16,114,499 or 75% of the outstanding amount, according
to CCLFX's Form N-CSR for the fiscal year ended March 31, 2025,
filed with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Orion Group FM
Holdings, LLC. The loan accrues interest at a rate of 9.79% per
annum. The loan matures on June 30, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

        About Orion Group FM Holdings, LLC

Orion Group FM Holdings, LLC is a commercial field services company
seeking to partner with leading family-owned service providers.


ORION GROUP: Cliffwater Corporate Marks $4.3MM Loan at 63% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,342,105
loan extended to Orion Group FM Holdings, LLC  to market at
$1,618,009 or 37% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Orion Group FM
Holdings, LLC. The loan accrues interest at a rate of 9.80% per
annum. The loan matures on June 30, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About Orion Group FM Holdings, LLC

Orion Group FM Holdings, LLC is a commercial field services company
seeking to partner with leading family-owned service providers.


ORION GROUP: Cliffwater Corporate Virtually Writes Off $23M Loan
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$23,157,895 loan extended to Orion Group FM Holdings, LLC  to
market at $138,152 or 1% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Orion Group FM
Holdings, LLC. The loan accrues interest at a rate of 1.00% per
annum. The loan matures on June 30, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

                About Orion Group FM Holdings, LLC

Orion Group FM Holdings, LLC is a commercial field services company
seeking to partner with leading family-owned service providers.


OSCAR ACQUISITIONCO: Moody's Cuts CFR to B3 & Alters Outlook to Neg
-------------------------------------------------------------------
Moody's Ratings downgraded Oscar AcquisitionCo, LLC's, which is
doing business as Oldcastle BuildingEnvelope ("OBE"), corporate
family rating to B3 from B2, probability of default rating to B3-PD
from B2-PD, the ratings on the backed senior secured first lien
term loan and backed senior secured first lien revolving credit
facility to B2 from B1 and the rating on the existing backed senior
unsecured notes to Caa2 from Caa1. The rating outlook was changed
to negative from stable.

The downgrade of OBE's ratings reflect the company's weakening
operating results, deteriorating credit metrics and Moody's
expectations that its operating performance will remain under
pressure in the near term due to weak end market demand and
underutilized capacity in its manufacturing footprint. The company
has taken action to rationalize its manufacturing footprint and
reduce costs which should lead to margin improvement but still
below historical levels.

The negative outlook reflects Moody's expectations for weak credit
metrics over the next 12-18 months as the company works to
rationalize its manufacturing footprint and improve profitability.

RATINGS RATIONALE

OBE's B3 CFR reflects the company's weakening operating
performance, weak credit metrics, limited geographic
diversification, and vulnerability to regional economic swings and
cyclical end markets. Moody's expects that OBE's profit margins
will improve from the low point in the first quarter of 2025, but
prospects for a rapid recovery in earnings and leverage remain slim
in a soft economic environment. At this stage, Moody's expects
leverage will only return to around 8.0x adjusted debt/EBITDA in
2026 from 10x expected in 2025, based on EBITA margins returning to
around 12% in 2026 (11% in 2024). The company's cost
rationalization initiatives should support gradual profitability
improvements.

These credit challenges are counterbalanced by the company's
leading position as a supplier of architectural hardware for
showers, railings, doors and windows, and a manufacturer of custom
architectural glass products and aluminum systems for entrances,
storefronts, window walls and curtain walls in North America. The
CFR further reflects OBE's historically high profitability and
ability to generate positive free cash flow, adequate liquidity and
no near-term debt maturities.

Moody's expects OBE to maintain adequate liquidity over the next 12
months. While Moody's expects negative free cash flow in 2025, the
company had $74 million of balance sheet cash with nothing drawn on
its $340 million revolving credit facility. Moody's expects the
majority of the free cash flow deficits to be in the first half of
2025 as the company rationalizes its manufacturing footprint. The
revolver expires in April 2027 and the term loan expires in April
2029. The revolver has a springing first-lien net leverage covenant
at 7.5x, triggered at 35% utilization. Moody's expects the company
to maintain a sufficient buffer under this covenant over the next
12 months. There are no financial covenants for the term loan,
which amortizes 1% a year. Most assets are fully encumbered by the
senior secured credit facilities, limiting alternative liquidity
sources.

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

The ratings could be upgraded if adjusted debt-to-EBITDA is
sustained below 6.0x and adjusted EBITA-to-interest expense is
sustained above 2.0x. An upgrade would also require maintenance of
good liquidity and a return to historical profitability and
consistent free cash flow generation.

The ratings could be downgraded if adjusted debt-to-EBITDA is
sustained above 7.0x or if EBITA-to-interest expense is sustained
below 1.0x. The ratings could also be downgraded if the company's
profit margins do not improve in the near-term or if its liquidity
profile deteriorates including consistently negative cash flow or
reduced revolver availability.

Headquartered in Dallas, Texas, OBE manufactures and distributes
custom architectural glass, aluminum glazing systems for windows
and doors, and architectural hardware and supplies. For the last
twelve month (LTM) period ending March 31, 2025, the company
recorded $1.8 billion of revenue. The company generates about 90%
of revenue in the US. KPS Capital Partners (KPS) acquired OBE in
April 2022 after OBE was separated from CRH plc, an Irish building
materials company.

The principal methodology used in these ratings was Manufacturing
published in September 2021.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


OUTFRONT MEDIA: Mark Carleton Elected to Board and Audit Committee
------------------------------------------------------------------
OUTFRONT Media Inc. disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that Mark Carleton was
elected to the Board of Directors, effective as of June 11, 2025,
for a term expiring at the Company's 2026 Annual Meeting of
Stockholders, or until his earlier resignation or removal from the
Board. Mr. Carleton will also serve as a member of the audit
committee of the Board, effective as of June 11, 2025.

There is no arrangement or understanding with any person pursuant
to which Mr. Carleton was appointed as a member of the Board. There
are no transactions between Mr. Carleton and the Company that would
be reportable under Item 404(a) of Regulation S-K.

In accordance with the Company's compensation policy for
non-employee directors as described in the Company's definitive
proxy statement filed with the Securities and Exchange Commission
on April 21, 2025, Mr. Carleton will receive an annual cash
retainer of $82,500 for service on the Board and $15,000 for
service on the audit committee of the Board, as well as an annual
equity grant under the OUTFRONT Media Inc. Amended and Restated
Omnibus Stock Incentive Plan in the form of restricted share units
valued at $145,000 (subject to proration). In addition, the Company
will enter into its standard form of indemnification agreement with
Mr. Carleton. A form of indemnification agreement was previously
filed with the SEC on February 18, 2014 as Exhibit 10.5 to the
Company's Registration Statement on Form S-11 (File No.
333-189643).

                     About OUTFRONT Media Inc.

Headquartered in New York, OUTFRONT Media Inc. leases advertising
space on out-of-home advertising structures and sites.

                           *     *     *

Egan-Jones Ratings Company, on September 10, 2024, maintained its
'CCC' foreign currency and local currency senior unsecured ratings
on debt issued by OUTFRONT Media Inc.


P3 HEALTH: All Four Proposals OK'd at 2025 Annual Meeting
---------------------------------------------------------
P3 Health Partners, Inc. held its 2025 Annual Meeting of
Stockholder. Holders of the Company's Class A common stock and
Class V common stock as of the close of business on April 10, 2024,
the record date for the Annual Meeting, were each entitled to one
vote per share. The following are the voting results for the four
proposals considered and voted upon at the Annual Meeting, each of
which were described in the Company's Definitive Proxy Statement
filed with the Securities and Exchange Commission on April 29,
2025.

Proposal 1 - Election of three Class I directors for a term of
office expiring on the date of the Annual Meeting of Stockholders
to be held in 2028, and until their respective successors have been
duly elected and qualified.

1. Sherif Abdou, M.D.

   * Votes For: 213,121,802
   * Votes Withheld: 1,381,463
   * Broker Non-Votes: 19,312,493

2. Greg Kazarian

   * Votes For: 213,517,485
   * Votes Withheld: 985,780
   * Broker Non-Votes: 19,312,493

3. Greg Wasson

   * Votes For: 209,589,112
   * Votes Withheld: 4,914,153
   * Broker Non-Votes: 19,312,493

Proposal 2 - Ratification of the appointment of BDO USA, P.C. as
the Company's independent registered public accounting firm for the
fiscal year ending December 31, 2025.

   * Votes For: 232,474,781
   * Votes Against: 690,557
   * Votes Abstained: 650,420
   * Broker Non-Votes: 0

Proposal 3 - Approval, on an advisory (non-binding) basis, of the
compensation of the Company's named executive officers.

   * Votes For: 211,787,285
   * Votes Against: 2,699,161
   * Votes Abstained: 16,819
   * Broker Non-Votes: 19,312,493

Proposal 4 - Approval, in accordance with Nasdaq Listing Rule
5635(d), of the issuance of up to 1,428,129 shares of Class A
common stock upon the exercise of outstanding Class A common stock
warrants held by VBC Growth SPV 4, LLC.

   * Votes For: 212,418,241
   * Votes Against: 2,067,920
   * Votes Abstained: 17,104
   * Broker Non-Votes: 19,312,493

Based on the foregoing votes, each of the three Class I director
nominees were elected and Proposals 2, 3, and 4 were approved.

                     About P3 Health Partners

Henderson, Nev.-based P3 Health Partners Inc is a patient-centered
and physician-led population health management company and, for
accounting purposes, the successor to P3 Health Group Holdings, LLC
and its subsidiaries after the consummation of a series of business
combinations in December 2021 with Foresight Acquisition Corp. As
the sole manager of P3 LLC, P3 operates and controls all of the
business and affairs of P3 LLC and P3's only assets are equity
interests in P3 LLC.

Las Vegas, Nev.-based BDO USA, P.C., the Company's auditor since
2021, issued a "going concern" qualification in its report dated
Mar. 27, 2025, attached to the Company's Annual Report on Form 10-K
for the year ended Dec. 25, 2024, citing that the Company has
suffered recurring losses from operations and has working capital
deficiencies that raise substantial doubt about its ability to
continue as a going concern.

As of Dec. 31, 2024, the Company had $783.4 million in total
assets, $633.9 million in total liabilities, and a total
stockholders' equity of $75.9 million.


PAGE AVE: Seeks Chapter 11 Bankruptcy in New York
-------------------------------------------------
On June 11, 2025, Page Ave Partners LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District of
New York. According to court filing, the
Debtor reports $4,000,000 in debt owed to 1 and 49 creditors.
The petition states funds will not be available to unsecured
creditors.

           About Page Ave Partners LLC

Page Ave Partners LLC owns a single real estate asset located on
Richmond Valley Road in Staten Island, New York. The property has
an estimated value of $1.5 million.

Page Ave Partners LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42844) on June 2,
2025. In its petition, the Debtor reports total assets of
$1,500,000 and total liabilities of $4,000,000.

Honorable Bankruptcy Judge Nancy Hershey Lord handles the case.

The Debtors are represented by Jonathan S. Pasternak, Esq. at
DAVIDOFF HUTCHER & CITRON LLP.


PARAMOUNT DRUG: Unsecured Creditors Will Get 10% of Claims in Plan
------------------------------------------------------------------
Paramount Drug, LLC filed with the U.S. Bankruptcy Court for the
District of New Jersey a Plan of Reorganization for Small Business
dated June 5, 2025.

The Debtor's business is a community/retail pharmacy. Sharon Maher
purchased the pharmacy from the previous owner on July 7, 2015 and
for the past ten years provided pharmaceutical services, delivery,
immunizations, and a wide variety of over-the-counter products and
sundries.  

Administrative expenses consisting of the Subchapter V Trustee's
fees and costs and the fees and costs of Debtor's counsel will be
paid, upon approval by the Court, first from the retainers paid by
the Debtor, then pro rata on a monthly basis from the $1,000 paid
by the Debtor.

The Debtor has been making adequate protection payments to the
secured creditor, Live Oak Bank, since the filing of the
bankruptcy, and will continue to make regular monthly payments in
the normal course. At the time of the filing of the bankruptcy, the
Debtor had not made two payments, however, counsel for the Debtor
and Live Oak are discussing an amicable means of making up those
two payments.

The Debtor is current with its loan to the US Small Business
Association (the EIDL Loan) and will continue to make the monthly
payments in the normal course.

The Debtor will resume making payments to Fulton Bank on a monthly
basis in the normal course.

The Debtor intends to seek a determination that certain creditors,
who claim to be secured based on their having filed UCC lien
statements, are actually unsecured due to the fact that the Debtor
does not have a sufficient amount of assets to support their
claim.

The Debtor proposes to pay general unsecured creditors 10% of their
claims, to be paid pro rata, commencing after administrative,
secured, and priority claims have been paid in full.

Class 7 consists of General Unsecured Claims. This Class shall
receive a quarterly payment of $ 5,082.00 from October 2027 to
August 2030. This Class will receive a distribution of 10% of their
allowed claims. This Class is impaired.

Equity Interest holders in Class 8 will retain interest.

The Plan will be funded from future income of the Debtor.

On Confirmation of the Plan, all property of the Debtor, tangible
and intangible, including, without limitation, licenses, furniture,
fixtures and equipment, will revert, free and clear of all Claims
and Equitable Interests except as provided in the Plan, to the
Debtor. The Debtor expects to have sufficient cash on hand to make
the payments required on the Effective Date.

A full-text copy of the Plan of Reorganization dated June 5, 2025
is available at https://urlcurt.com/u?l=1JOGp3 from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Carol L. Knowlton, Esq.
     GORSKI & KNOWLTON PC
     311 Whitehorse Ave, Suite A
     Hamilton, NJ 08610
     Tel: (609) 964-4000
     Fax: (609) 528-0721
     E-mail: cknowlton@gorskiknowlton.com

          About Paramount Drug LLC

Paramount Drug, LLC offers a range of pharmacy services, including
prescription fills and refills, immunizations, and the provision of
durable medical equipment.  As a member of Good Neighbor Pharmacy,
it is committed to providing personalized care and customer
satisfaction.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.J. Case No. 25-12381) on March 7,
2025. In the petition signed by Sharon Maher, principal, the Debtor
disclosed $269,300 in assets and $1,534,570 in liabilities.

Judge Andrew B. Altenburg, Jr. oversees the case.

Carol L. Knowlton, Esq., at Gorski & Knowlton, P.C., represents the
Debtor as legal counsel.


PAS PARENT: Cliffwater Corporate Marks $374,000 Loan at 44% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $374,998
loan extended to PAS Parent, Inc.  to market at $210,423 or 56% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to PAS Parent, Inc. The
loan accrues interest at a rate of 11.25% per annum. The loan
matures on December 30, 2027.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

           About PAS Parent, Inc.

Pas Parent LLC was founded in 2016. The company's line of business
includes holding or owning securities of companies other than
banks.


PAS PARENT: Cliffwater Corporate Marks $7.1-Mil. Loan at 59% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $7,132,283
loan extended to PAS Parent, Inc.  to market at $2,958,102 or 41%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to PAS Parent, Inc.
The loan accrues interest at a rate of 9.07% per annum. The loan
matures on December 30, 2028.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About PAS Parent, Inc.

Pas Parent LLC was founded in 2016. The company's line of business
includes holding or owning securities of companies other than
banks.


PAVION CORP: Cliffwater Corporate Marks $3.1MM Loan at 14% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,173,996
loan extended to Pavion Corp. to market at $2,723,495 or 86% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to PAS Parent, Inc.
The loan accrues interest at a rate of 10.3% per annum. The loan
matures on October 30, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About Pavion Corp.

Pavion Corp. delivers specialized fire alarm, security, and AV
solutions across various sectors, including Education, Healthcare,
Government, and Technology & Data.


POWIN LLC: Gets Interim OK to Use Cash Collateral
-------------------------------------------------
Powin LLC and its affiliates got the green light from the U.S.
Bankruptcy Court for the District of New Jersey to use cash
collateral.

The court's order authorized the Debtors' interim use of cash
collateral from the petition date to June 30 or until the
occurrence of so-called termination events.

Termination events include the violation of any term of the interim
order by the Debtors; dismissal or conversion of the Debtors'
Chapter 11 cases; the appointment of a Chapter 11 trustee or
examiner with enlarged powers; and the filing by the Debtors of a
plan of liquidation or reorganization that is not conditioned upon
the payment of their pre-bankruptcy secured obligations to GLAS
USA, LLC.

The Debtors' cash collateral consists of cash and cash equivalents
in which GLAS USA and the lenders under a loan agreement assert an
interest.

Prior to the petition date, the Debtors entered into a loan
agreement dated October 1, 2024, with GLAS USA, as the
administrative agent and collateral agent, and the lenders party to
the agreement. Under this agreement, the lenders provided the
Debtors with up to $200 million in total commitments. The Debtors
pledged and granted to the agent a security interest in and lien on
substantially all of their assets, including cash.

On March 24, GLAS USA issued a default notice, notifying Powin of
certain events of default and declaring all loans and obligations
immediately due and payable. The pre-petition agent also exercised
control over the Debtors' controlled accounts by issuing separate
control notices to JPMorgan Chase Bank and HSBC Bank.

As of the petition date, the Debtors owed more than $25.6 million
under the loan agreement.

As adequate protection for the Debtors' use of their cash
collateral, the pre-bankruptcy secured creditors will be granted
replacement liens on all collateral senior to all other liens on
and security interests in the collateral.

As further protection, the pre-bankruptcy secured creditors will
receive payments in the total amount of $8 million this month and
will be granted allowed superpriority administrative expense claims
ahead of and senior to other administrative expense claims.

A final hearing will be held on July 8, with objections due by July
1.  

GLAS USA is represented by:

   Brett S. Theisen, Esq.
   Gibbons P.C.
   One Gateway Center
   Newark, NJ 07102
   Telephone: (973) 596-4500
   btheisen@gibbonslaw.com

                          About Powin LLC

Powin, LLC is a manufacturer of utility-scale battery energy
storage systems. It specializes in designing and manufacturing
advanced energy storage solutions for utility, commercial, and
industrial applications.

Powin sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D.N.J. Case No. 25-16137) on June 10, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $100 million and $500 million each.

Honorable Bankruptcy Judge Michael B. Kaplan handles the case.

The Debtor is represented by Frank A. Oswald at Togut, Segal &
Segal LLP.


PREDICTIVE ONCOLOGY: Updates ATM Offering Limit
-----------------------------------------------
Predictive Oncology Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that the Company filed
a prospectus supplement, which amended and supplemented certain
information in the prospectus supplement, dated April 18, 2025, to
the prospectus, dated May 21, 2024, filed with the Securities and
Exchange Commission as part of its registration statement on Form
S-3 (333-279123), as supplemented by its prospectus supplement,
dated May 21, 2024.

The Company previously entered into an ATM Sales Agreement on May
3, 2024 with H.C. Wainwright & Co., LLC, as sales agent to sell
shares of the Company's common stock, par value $0.01 per share,
from time to time, through an "at the market offering" program
pursuant to which Wainwright will act as sales agent.

The Company filed the prospectus supplement to amend the ATM
Prospectus to update the maximum amount of shares that it is
eligible to sell from and after June 2, 2025, and to specify the
value of common stock it would be permitted to sell in any 12
calendar month period under General Instruction I.B.6 of Form S-3.
As of June 2, 2025, the Company could only offer and sell shares of
its common stock having an aggregate offering price of up to
$3,398,000. However, in the event that the Company's public float
increases or decreases, it may sell securities in public primary
offerings on Form S-3 with a value up to one-third of the Company's
public float, in each case calculated pursuant to General
Instruction I.B.6 of Form S-3 and subject to the terms of the
Agreement. In the event that the Company's public float increases
above $75 million, it will no longer be subject to the limits in
General Instruction I.B.6 of Form S-3. If the Company's public
float increases such that it may sell additional amounts under the
Agreement and the Form S-3 registration statement of which the ATM
Prospectus is a part, the Company will file another prospectus
supplement prior to making additional sales. As of June 2, 2025,
the Company has sold securities with an aggregate market value of
approximately $684,467 pursuant to General Instruction I.B.6 of
Form S-3.

DLA Piper LLP, counsel to the Company, has issued a legal opinion
relating to the shares of the Company's common stock that may be
issued pursuant to the at-the-market offering program under the ATM
Prospectus.

                        About Predictive Oncology

Predictive Oncology Inc., headquartered in Pittsburgh,
Pennsylvania, is a science- and knowledge-driven company that
leverages artificial intelligence (AI) to advance the discovery and
development of optimal cancer therapies. By combining AI with a
proprietary biobank of over 150,000 tumor samples, categorized by
tumor type, the Company delivers actionable insights into drug
compounds, enhancing the drug discovery process and increasing the
likelihood of clinical success. Predictive Oncology offers a
comprehensive suite of solutions that support oncology drug
development from early discovery through to clinical trials,
ultimately aiming to improve treatment effectiveness and patient
outcomes.

In its report dated March 31, 2025, the Company's auditor, KPMG
LLP, issued a "going concern" qualification, attached to the
Company's Annual Report on Form 10-K for the year ended Dec. 31,
2024, citing that the Company has incurred recurring losses from
operations and has an accumulated deficit that raises substantial
doubt about its ability to continue as a going concern.

As of Dec. 31, 2024, Predictive Oncology had $4.97 million in total
assets, $5.18 million in total liabilities, and a total
stockholders' deficit of $202,610.


PROOFPOINT INC: Moody's Cuts CFR to B3 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Ratings downgraded Proofpoint, Inc.'s (Proofpoint)
corporate family rating to B3 from B2 and probability of default
rating to B3-PD from B2-PD driven by the debt funded acquisition of
cyber security provider Hornetsecurity Group (Hornetsecurity).
Moody's affirmed the B2 ratings on Proofpoint's upsized senior
secured first lien bank credit facilities.  The Hornetsecurity
acquisition is being funded with a combination of additional first
lien debt and unrated second lien debt. The ratings outlook was
changed to stable from negative.

The downgrade of the CFR reflects the increase in leverage as a
result of the debt funded acquisition, accompanying increase in
interest expense and reduction in free cash flow.  The increase in
debt comes shortly after Proofpoint raised additional debt to fund
a dividend to shareholders earlier in 2025.  At closing, Moody's
adjusted pro forma debt to EBITDA (before certain employee cash
restricted stock unit payments (RSU), and non-cash stock related
compensation) is estimated at well over 9x based on trailing March
2025 results and around 11x including those expenses. While legacy
employee stock payments are winding down, deferred purchase price
payments from the Hornetsecurity acquisition will also impact cash
flow over the next two years.

The Hornetsecurity acquisition expands Proofpoint's security
offerings in the managed service provider (MSP) channel and access
to small to medium sized customers particularly in European
markets.

RATINGS RATIONALE

Proofpoint's B3 CFR reflects very high leverage and limited free
cash flow offset by a strong growth profile and leading market
position in the email security software industry. Moody's expects
Moody's adjusted leverage will trend towards 7.5x over the next
eighteen months based on strong revenue growth and modest margin
improvements unless the company pursues additional debt funded
acquisitions or dividends. While employee deferred RSU stock cash
payments have been material since closing of the buyout, the
private equity owners effectively pre-funded the payments at the
2021 closing.

Proofpoint is one of the leading providers of email security and
related software solutions. The company has grown revenue at double
digit rates annually over the past five years driven by the
strength of its product offerings. Although there is moderate risk
associated with ongoing cost savings plans, Proofpoint should grow
at 10% or greater rates organically over the next several years
driven by constantly evolving security threats and the efficacy of
the company's products, including the new Hornetsecurity MSP
offerings. Moody's expects that growth will be fueled by new email
security customers and the selling of additional related products
to existing customers. The expansion of solutions includes areas
such as targeted attack protection, security awareness training,
archiving, analytics and data loss prevention. Proofpoint has good
market positions in these categories although most sales will only
be to existing email security customers. Moody's also anticipates
that Proofpoint will continue to make acquisitions to supplement
the company's technology portfolio.

Proofpoint's liquidity is adequate and supported by around $200
million of cash at closing and $300 million in undrawn revolvers.
Moody's expects free cash flow before RSU and deferred equity
payments to be positive over the next year but overall free cash
flow may remain negative.

The stable outlook reflects continued strong growth and moderate
deleveraging over the next eighteen months in the absence of
material acquisitions or dividends. While Moody's expects free cash
flow before RSU and deferred equity payments to be positive over
the next year, overall free cash flow will likely remain negative
over this period.

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

Ratings could be upgraded if revenue and EBITDA growth continue at
solid levels; Moody's adjusted debt to EBITDA (excluding cash and
non-cash stock comp) is sustained below 7.5x; Moody's adjusted free
cash flow (before RSU and deferred equity payments) to debt is
sustained above 5% and the company maintains strong liquidity
including cash balances sufficient to cover remaining RSU and
deferred equity payments and business needs.

Ratings could be downgraded if performance deteriorates; Moody's
adjusted leverage (excluding cash and non-cash stock comp) is
sustained above 10x; Moody's adjusted free cash flow (before RSU
and deferred equity payments) is negative or liquidity materially
deteriorates.

Proofpoint is a leading provider of email and related security
software. The company was acquired by private equity firm Thoma
Bravo in July 2021. Proofpoint had revenues of $2 billion in twelve
months ended March 2025.

The principal methodology used in these ratings was Software
published in June 2022.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


PROPIO LS: Cliffwater Corporate Virtually Writes Off $1.9MM Loan
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,989,357
loan extended to Propio LS LLC to market at $51,685 or 3% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Propio LS LLC. The
loan accrues interest at a rate of 12.00% per annum. The loan
matures on July 17, 2029.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About Propio LS LLC

Propio LS LLC is engaged in providing language translation
services.


PROVIDENTIAL LENDING: Court OKs Deal to Use Cash Collateral
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona issued an
order approving a stipulation between Providential Lending
Services, LLC and its lender, Velocity Commercial Capital, LLC for
the interim use of cash collateral.

The stipulation authorizes the Debtor to use the lender's cash
collateral from May 5 through the termination date, which is (i) 60
days following the entry of the court order; (ii) three business
days following notice to Debtor that an event of default has
occurred and is unresolved; (iii) an event of default has occurred
for which no notice is required to be given; or (iv) the effective
date of a confirmed plan of reorganization.

As protection for the Debtor's use of its cash collateral, the
lender will be granted a valid and perfected security interest in
and lien on all of the Debtor's real and personal property.

In addition, Velocity will receive payment in the amount of $26,386
for May and June as further protection.

On or about January 12, 2021, the Debtor and Velocity entered into
an agreement under which the former obtained a loan in the amount
of $3,338,250, plus all unpaid
interest, fees, costs and charges.  The loan is secured by first
position, security
interest in and liens on certain real estate owned by the Debtor
and rents generated from the property.

As of the petition date, the outstanding obligation on the loan was
no less than $3,360,565.96. The Debtor's monthly debt service
obligation to the lender, including principal and interest, is
approximately $26,386 per month.

Velocity is represented by:

   Steven D. Jerome, Esq.
   Eric S. Pezold, Esq.
   Molly J. Kjartanson, Esq.
   Snell & Wilmer L.L.P.
   1 E. Washington St., Ste. 2700
   Phoenix, AZ 85004
   Telephone: 602.382.6000
   Facsimile: 602.382.6070
   sjerome@swlaw.com   
   epezold@swlaw.com  
   mkjartanson@swlaw.com

                 About Providential Lending Services

Providential Lending Services, LLC is a company based in Mesa,
Ariz., primarily engaged in renting and leasing properties to
residential or commercial tenants.

Providential Lending Services sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-04020) on May
5, 2025, listing up to $10 million in assets and up to $500,000 in
liabilities. John Conover, manager of Providential Lending
Services, signed the petition.

Judge Brenda K. Martin oversees the case.

Joseph G. Urtuzuastegui III, Esq., at The Real Estate Investor Law
Firm, LLC, represents the Debtor as bankruptcy counsel.


PURDUE PHARMA: $7.4B Opioid Bankruptcy Deal Moves Toward Vote
-------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Purdue Pharma LP is moving
ahead with a vote on its revised bankruptcy plan and $7.4 billion
opioid settlement, after securing broad support from all U.S.
states and territories.

The settlement, largely funded by the Sackler family, who own the
company, will be presented to hundreds of thousands of individuals,
organizations, and government entities affected by the opioid
crisis, according to Bloomberg Law.

At a hearing on Wednesday, June 18, 2025, U.S. Bankruptcy Judge
Sean H. Lane of the Southern District of New York described the
development as a "significant milestone."

                    About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19
23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation. The Debtors' consolidated
balance sheet as of Aug. 31, 2019, showed $1.972 billion in assets
and $562 million in liabilities. U.S. Bankruptcy Judge Robert Drain
oversees the cases.  

The Debtors tapped Davis Polk & Wardwell, LLP and Dechert, LLP, as
legal counsels; PJT Partners as investment banker; AlixPartners as
financial advisor; and Grant Thornton, LLP as tax structuring
consultant. Prime Clerk, LLC, is the claims agent.

Akin Gump Strauss Hauer & Feld LLP and Bayard, P.A., represent the
official committee of unsecured creditors appointed in the Debtors'
bankruptcy cases.

David M. Klauder, Esq., is the fee examiner appointed in the
Debtors' cases. The fee examiner is represented by Bielli &
Klauder, LLC.

                         *     *     *

U.S. Bankruptcy Judge Robert Drain in early September 2021 approved
a plan to turn Purdue into a new company (Knoa Pharma LLC) no
longer owned by members of the Sackler family, with its profits
going to fight the opioid epidemic. The Sackler family agreed to
pay $4.3 billion over nine years to the states and private
plaintiffs and in exchange for a lifetime legal immunity. The deal
resolves some 3,000 lawsuits filed by state and local governments,
Native American tribes, unions, hospitals and others who claimed
the company's marketing of prescription opioids helped spark and
continue an overdose epidemic.

Separate appeals to approval of the Plan have already been filed by
the U.S. Bankruptcy Trustee, California, Connecticut, the District
of Columbia, Maryland, Rhode Island and Washington state, plus some
Canadian local governments and other Canadian entities.

In early March 2022, Purdue Pharma reached a nationwide settlement
over its role in the opioid crisis, with the Sackler family members
boosting their cash contribution to as much as $6 billion. The
settlement was hammered out with attorneys general from the eight
states -- California, Connecticut, Delaware, Maryland, Oregon,
Rhode Island, Vermont and Washington -- and D.C. who had opposed
the previous settlement.


QUEST IDENTITY: Moody's Alters Outlook on 'Caa2' CFR to Stable
--------------------------------------------------------------
Moody's Ratings affirmed Quest Identity Intermediate Limited's
(Quest) ratings, including the corporate family rating of Caa2 and
the probability of default rating of Caa2-PD. At the same time,
Moody's appended a "/LD" limited default designation to the
company's PDR changing it to Caa2-PD/LD from Caa2-PD, following the
recent debt exchange of its senior secured first lien term loan and
senior secured second lien term loan. The outlook for Quest
Identity Intermediate Limited was changed to stable from negative.

The new debt is rated B1/Caa1/Caa2/Caa3/Ca as outlined below in the
debt list depending on seniority. The new debt is issued by a newly
created subsidiary, OID-OL Intermediate I, LLC. Moody's assigned a
stable outlook to OID-OL Intermediate I, LLC.

Moody's also withdrew the Caa1 ratings on OID-OL Holdings, Inc.'s
senior secured first lien bank credit facilities and Ca rating on
the senior secured second lien term loan. The outlook for OID-OL
Holdings, Inc. has been withdrawn.

The rating actions reflect the closing of Quest's exchange offer to
solicit the existing first lien and second lien term loan lenders
to exchange into new first lien term loans. As part of the
exchange, Quest also received $350 million in a new money term
loan, which will have a first lien first out payment priority. All
of the existing first lien and the second lien term loan lenders
consented to the offer. Moody's considered this transaction a
distressed exchange and a limited default and appended a "/LD"
designation to Quest's PDR. Moody's will remove the "/LD"
designation from the company's PDR in approximately three business
days.

The revision of the outlook to stable reflects the company's
improved liquidity, with Quest using the proceeds from the new
money $350 million term loan to repay approximately $269 million of
the revolving credit facility and fund transaction expenses. The
company's cash flow is also expected to improve with reduced cash
interest costs stemming from the PIK payments on the first lien
fourth out term loan and first lien fifth out term loans. As a
result, Moody's expects Quest's pro forma (PF) leverage for the
transaction to be mid 9x debt/EBITDA (Moody's adjusted).

Governance is a driver of the rating action, including risks from
an aggressive financial policy with an elevated debt load under the
controlled ownership, and considering the distressed exchange
transaction.

RATINGS RATIONALE

The Caa2 CFR reflects Quest's high PF leverage of about mid 9x
(Moody's adjusted) and Moody's expectations of leverage remaining
relatively flat over the next 12 months primarily due to high
amount of PIK interest on the first lien fourth out term loan and
first lien fifth out term loans. Quest will need to achieve
operational improvements and customer wins in order to drive
meaningful deleveraging. The company's high leverage will continue
to limit its financial flexibility over the next 12 months.

Quest's fiscal year 2025 recurring revenue was up slightly and
total revenue declined by 2% as the growth in the company's SaaS
and Term License has largely been offset by the declines in the
perpetual license and maintenance revenue. Moody's expects this
trend to continue over the next 12 months, which will result in the
company's revenue remaining relatively flat. Quest will need to
demonstrate its ability to grow revenue during the business model
transition. However, over the longer term, the shift to recurring
revenue model will strengthen Quest's business profile, improving
overall revenue and cash flow predictability.

At the same time, the rating takes into consideration the company's
good niche positions of its Quest Software and One Identity product
offerings, which support strong EBITDA margins. Operating
performance will be supported by Quest's identity-centric
cybersecurity offering and cloud office migration tools as
organizations continue to invest in cybersecurity and digital
transformations, despite potential macroeconomic slowdown. The
company's diversified customer base across different end markets
will provide revenue stability over the next 12 months. Moody's
also expects the change in leadership and normalization of sales
team attrition to improve performance of the company's One Identity
business segment.  

Quest's liquidity profile is adequate, supported by total liquidity
of approximately $364 million, which comprises cash on the balance
sheet and revolving credit facility availability, along with
Moody's expectations of free cash flow to debt in the low
single-digit percentage range. The company does not have meaningful
debt maturities until 2028 with its revolving credit facility
maturing in November 2028, first lien first out term loan maturing
in February 2029, first lien second out term loan, first lien third
out term loan, and first lien fourth out term loan maturing in
February 2029, and first lien fifth out term loans maturing in
February 2030. Moody's expects Quest to maintain ample cushion
under its springing revolving credit facility financial covenant
that requires Quest maintain a First Out Net Leverage Ratio of less
than 6.00x if revolver utilization exceeds 35%.

The stable outlook reflects Moody's expectations that Quest's
revenue will remain relatively flat with modestly improving EBITDA
margins over the next 12 months. Moody's expects the company's
leverage to remain flat at about mid 9x over the outlook period.

The B1 rating on Quest subsidiary's senior secured revolving credit
facility and first lien first out term loan reflects the debt's
senior position in the company's capital structure. The Caa1 rating
on the senior secured first lien second out term loan, Caa2 rating
on the senior secured first lien third out term loan, Caa3 rating
on the senior secured first lien fourth out term loan, and Ca
rating on the senior secured first lien fifth out term loan A-1,
and senior secured first lien fifth out term loan A-2 reflect its
junior position to the new revolver and new money term loan.

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

The ratings could be upgraded if Quest demonstrates sustained
positive free cash flow generation, reduces its debt/EBITDA
leverage, and demonstrates improved operating performance.

The ratings could be downgraded if Moody's assessments of recovery
in a default scenario deteriorates.

LIST OF AFFECTED RATINGS

Issuer: Quest Identity Intermediate Limited

Affirmations:

Corporate Family Rating, Affirmed Caa2

Probability of Default Rating, Affirmed Caa2-PD /LD (/LD
appended)

Outlook Actions:

Outlook, Changed To Stable From Negative

Issuer: OID-OL Holdings, Inc.

Withdrawals:

Backed Senior Secured First Lien Bank Credit Facilities,
Withdrawn, previously rated Caa1

Backed Senior Secured Second Lien Term loan, Withdrawn, previously
rated Ca

Outlook Actions:

Outlook, Changed To Rating Withdrawn From Negative

Issuer: OID-OL Intermediate I, LLC

Assignments:

Backed Senior Secured First Lien First-out Revolving Credit
Facility, Assigned B1

Backed Senior Secured First Lien First-out New Money Term Loan,
Assigned B1

Backed Senior Secured First Lien Second-out Term Loan, Assigned
Caa1

Backed Senior Secured First Lien Third-out Term Loan, Assigned
Caa2

Backed Senior Secured First Lien Fourth-out Term Loan, Assigned
Caa3

Backed Senior Secured First Lien Fifth-Out Term Loan A-1, Assigned
Ca

Backed Senior Secured First Lien Fifth-Out Term Loan A-2, Assigned
Ca

Outlook Actions:

Outlook, Assigned Stable

Quest Identity Intermediate Limited is a holding company of two
distinct operating companies: Quest Software and One Identity.
Quest Software is a provider of integrated infrastructure software
solutions for managing systems, data, and applications. One
Identity provides identity security solutions including identity
governance, privileged access management and access management
solutions.

The principal methodology used in these ratings was Software
published in June 2022.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


REMAX MARINE: Seeks to Hire BransonLaw PLLC as Bankruptcy Counsel
-----------------------------------------------------------------
Remax Marine Construction LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire
BransonLaw, PLLC as counsel.

The professional services the firm is to render include:

     a. prosecute and defend any causes of action on behalf of the
Debtor; prepare, on behalf of the Debtor, all necessary
applications, motions, reports and other legal papers;

     b. assist in the formulation of a plan of reorganization; and

     c. provide all other services of a legal nature.

The firm's attorneys and paralegals will be paid at their hourly
rates between $500 to $150 plus out-of-pocket expenses.

The firm also received an advance fee of $7,757.50 for
post-petition services from the Debtor.

Jeffrey Ainsworth, Esq., an attorney at BransonLaw, 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:

     Jeffrey Ainsworth, Esq.
     BransonLaw, PLLC
     1501 E. Concord Street
     Orlando, FL 32803
     Telephone: (407) 894-6834
     Email: jeff@bransonlaw.com

        About Remax Marine Construction LLC

Remax Marine Construction LLC sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-03299) on May 30, 2025, listing up to $50,000 in assets and
$50,001 to $100,000 in liabilities.

Judge Grace E Robson presides over the case.

Jeffrey Ainsworth, Esq. at Bransonlaw PLLC represents the Debtor as
counsel.


REVIVA PHARMACEUTICALS: Baker Tilly Replaces Moss Adams as Auditor
------------------------------------------------------------------
Reviva Pharmaceuticals Holdings, Inc. disclosed in a Form 8-K
Report filed with the U.S. Securities and Exchange Commission that
the Company was notified that Moss Adams LLP, the Company's
independent registered public accounting firm, merged with Baker
Tilly US, LLP effective on June 3, 2025.

The combined audit practices will operate as Baker Tilly US, LLP.
In connection with the notification of the merger, Moss Adams has
resigned as the auditors of the Company effective June 3, 2025, and
the Audit Committee of the Company's Board of Directors appointed
Baker Tilly, as the successor to Moss Adams, as the Company's new
independent registered public accounting firm, also effective June
3, 2025.

The audit reports of Moss Adams on the Company's consolidated
financial statements as of and for the years ended December 31,
2024 and 2023 did not contain an adverse opinion or a disclaimer of
opinion, nor were they qualified or modified as to uncertainty,
audit scope or accounting principles. Moss Adams' audit reports on
the consolidated financial statements for fiscal years 2024 and
2023 each contained an explanatory paragraph regarding a going
concern uncertainty.

During the years ended December 31, 2024 and 2023, and the
subsequent interim period through June 3, 2025, there were no (a)
disagreements with Moss Adams on any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure, which, if not resolved to Moss Adams'
satisfaction, would have caused it to make reference to the subject
matter of the disagreement in connection with its reports on the
Company's financial statements, or (b) reportable events requiring
disclosure pursuant to Item 304(a)(1)(v) of Regulation S-K.

During the years ended December 31, 2024 and 2023, and the
subsequent interim period through the date of Baker Tilly's
engagement, neither the Company, nor anyone on its behalf,
consulted with Baker Tilly regarding: (i) either the application of
accounting principles to a specified transaction, either completed
or proposed, or the type of audit opinion that might be rendered on
the Company's financial statements, and Baker Tilly did not provide
a written report or oral advice that Baker Tilly concluded was an
important factor considered by the Company in reaching a decision
as to the accounting, auditing or financial reporting issue; or
(ii) any matter that was either the subject of a "disagreement," as
defined in Item 304(a)(1)(iv) of Regulation S-K and the related
instructions to that item, or a "reportable event," as described in
Item 304(a)(1)(v) of Regulation S-K.

              About Reviva Pharmaceuticals Holdings

Cupertino, Calif.-based Reviva Pharmaceuticals Holdings, Inc. is a
late-stage biopharmaceutical company that discovers, develops, and
seeks to commercialize next-generation therapeutics for diseases
representing unmet medical needs and burdens to society, patients,
and their families.

San Francisco, Calif.-based Moss Adams LLP, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated Apr. 2, 2025, attached to the Company's Annual Report on Form
10-K for the year ended Dec. 31, 2024, citing that the Company has
suffered recurring losses from operations and has a net capital
deficiency that raise substantial doubt about its ability to
continue as a going concern.

As of Dec. 31, 2024, the Company had $15.5 million in total assets,
$14.7 million in total liabilities, and a total stockholders'
equity of $0.8 million.


RICHFIELD NURSING: Seeks $1MM DIP Loan From Endurance Capital
-------------------------------------------------------------
Richfield Nursing and Rehabilitation LLC and affiliates asked the
U.S. Bankruptcy Court for the Middle District of Pennsylvania for
authority to use cash collateral and obtain post-petition
financing.

Prior to filing for bankruptcy, the Debtors were parties to a line
of credit agreement with Gemino Healthcare Finance, LLC, which was
later assigned to SLR Healthcare ABL. The line of credit was used
jointly by all Debtors to fund operations but has since been fully
repaid and terminated, leaving no outstanding debt to either Gemino
or SLR. The Debtors lease their facilities from OHI Asset (PA), LP,
under a Master Lease Agreement. The Debtors are currently
delinquent on their rent and other financial obligations to OHI.

OHI holds a first-priority perfected lien on the Debtors' personal
property—including accounts receivable, inventory, and cash as a
result of properly filed UCC-1 financing statements.

To maintain operations during the bankruptcy proceedings and to
maximize the value of their assets ahead of a potential sale, the
Debtors are seeking approval to obtain post-petition financing and
to continue using their cash collateral.

The proposed financing is a debtor-in-possession loan of up to $1
million, with an immediate interim draw of $200,000 needed within
15 days of the filing. The DIP financing will be provided by
Endurance Capital Lending, LLC, a lender affiliated with Ephram
Lahasky, who assists in managing the facilities. Lahasky's wife is
also an owner of each of the Debtors, making Endurance potentially
an insider under bankruptcy law.

The DIP loan is structured as a revolving credit facility, with no
interest charged. The Debtors will be responsible for paying all
reasonable fees and expenses related to the loan, including legal
and administrative costs. The loan will be secured by liens on all
post-petition personal property of the Debtors, excluding Chapter 5
causes of action and vehicles, and will be subordinate to OHI's
existing pre-petition lien. The DIP Lender will also be granted a
super-priority administrative expense claim, junior only to a
carve-out that includes fees and expenses for case professionals
and the Office of the U.S. trustee, up to a cap of $250,000 for
professional fees and $10,000 for Chapter 7 trustee fees, if
applicable.

Both OHI and Endurance Capital Lending, LLC have consented to the
Debtors' use of cash collateral and the proposed DIP financing. The
Debtors' pre-petition assets include approximately $940,500 in
equipment and furniture, $946,000 in inventory, $15,580 in cash on
hand, and approximately $7,154,809 in accounts receivable. Because
of the nature of their businesses and the financial strain leading
to the bankruptcy filing, the Debtors lack alternative sources of
working capital and cannot sustain operations without immediate
access to cash collateral and DIP funding.

The Debtors have submitted a cash flow budget demonstrating the
need for up to $1 million in DIP financing over the next two months
to fund operations and preserve the going-concern value of the
businesses. The budget outlines anticipated expenses related to
payroll, supplies, and facility maintenance. The financing will
ensure that the Debtors can continue to care for residents, retain
employees, and maintain licensing and vendor relationships while
pursuing a potential sale or reorganization plan.

To protect OHI's interest, the Debtors proposed granting OHI a
replacement lien on all post-petition assets to the extent of any
diminution in the value of its collateral. If such replacement lien
proves insufficient, OHI would also receive a super-priority
administrative expense claim, junior only to the carve-out. The
Debtors will provide bi-weekly financial reporting to both OHI and
Endurance and will update the cash flow budget every two months.

            About Richfield Nursing and Rehabilitation

Richfield Nursing and Rehabilitation LLC and affiliates are
operators of skilled nursing and rehabilitation centers across
Pennsylvania. Each location provides a range of services, including
short-term rehabilitation, long-term care, and therapy.

Richfield Nursing and Rehabilitation sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No.
25-01599) on June 4, 2025. In its petition, the Debtor reported
between $1 million and $10 million in assets and liabilities.

Judge Henry W. Van Eck handles the case.

The Debtors are represented by Robert E. Chernicoff, Esq., at
Cunningham, Chernicoff & Warshawsky, P.C.


ROCHESTER DIOCESE: Court Approves $71MM Insurance Settlement
------------------------------------------------------------
Randi Love of Bloomberg Law reports that the Diocese of Rochester
has secured court approval for a $71 million settlement with four
insurers, a key step in advancing its nearly six-year Chapter 11
case and providing compensation to survivors of clergy sexual
abuse.

U.S. Bankruptcy Judge Paul R. Warren approved the deal Wednesday,
June 18, 2025, in the Western District of New York, stating that
the insurance policy buyback provisions were necessary. Without
them, he noted, the insurers might withhold their contributions.
The diocese filed for bankruptcy in 2019 in response to hundreds of
abuse claims, according to Bloomberg Law.

                About The Diocese of Rochester

The Diocese of Rochester in upstate New York provides support to 86
Roman catholic parishes across 12 counties in upstate New York. It
also operates a middle school, Siena Catholic Academy. The diocese
has 86 full-time employees and six part-time employees and provides
medical and dental benefits to an additional 68 retired priests and
two former priests.

The diocese generated $21.88 million of gross revenue for the
fiscal year ending June 30, 2019, compared with a gross revenue of
$24.25 million in fiscal year 2018.

The Diocese of Rochester filed for Chapter 11 bankruptcy protection
(Bankr. W.D.N.Y. Case No. 19-20905) on Sept. 12, 2019, amid a wave
of lawsuits over alleged sexual abuse of children. In the petition,
the diocese was estimated to have $50 million to $100 million in
assets and at least $100 million in liabilities.

Bond, Schoenec & King, PLLC and Bonadio & Co. serve as the
diocese's legal counsel and accountant, respectively. Stretto is
the claims and noticing agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the diocese's Chapter 11 case. Pachulski
Stang Ziehl & Jones, LLP and Berkeley Research Group, LLC serve as
the committee's legal counsel and financial advisor, respectively.


ROCHESTER DIOCESE: Court Quashes Jeff Anderson Subpoenas
--------------------------------------------------------
The Honorable Paul R. Warren of the United States Bankruptcy Court
for the Western District of New York granted the motion of the
Diocese of Rochester's Official Committee of Unsecured Creditors to
quash subpoenas issued by Continental Insurance Company to Jeff
Anderson and Jeff Anderson & Associates, P.A.

The subpoenas seeking both deposition testimony and document
production are quashed under Rule 45(d)(3) FRCP, made applicable to
bankruptcy through Rule 9016 FRBP.

A copy of the Court's Decision & Order dated June 10, 2025, is
available at https://urlcurt.com/u?l=Olu1GJ from PacerMonitor.com.

                About The Diocese of Rochester

The Diocese of Rochester in upstate New York provides support to 86
Roman catholic parishes across 12 counties in upstate New York. It
also operates a middle school, Siena Catholic Academy. The diocese
has 86 full-time employees and six part-time employees and provides
medical and dental benefits to an additional 68 retired priests and
two former priests.

The diocese generated $21.88 million of gross revenue for the
fiscal year ending June 30, 2019, compared with a gross revenue of
$24.25 million in fiscal year 2018.

The Diocese of Rochester filed for Chapter 11 bankruptcy protection
(Bankr. W.D.N.Y. Case No. 19-20905) on Sept. 12, 2019, amid a wave
of lawsuits over alleged sexual abuse of children. In the petition,
the diocese was estimated to have $50 million to $100 million in
assets and at least $100 million in liabilities.

Bond, Schoenec & King, PLLC and Bonadio & Co. serve as the
diocese's legal counsel and accountant, respectively. Stretto is
the claims and noticing agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the diocese's Chapter 11 case. Pachulski
Stang Ziehl & Jones, LLP and Berkeley Research Group, LLC serve as
the committee's legal counsel and financial advisor, respectively.


SAFE & GREEN: Olenox Gets $2M Line of Credit From Prosperity Bank
-----------------------------------------------------------------
Safe & Green Holdings Corp. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that Olenox Corp.,
a wholly owned subsidiary of the Company, entered into a Promissory
Note in favor of Prosperity Bank in the aggregate principal amount
of $2,000,000. The Note evidences a revolving Line of Credit of
Olenox with the Lender. After all loan processing and origination
fees of $15,002, the Borrower received net loan proceeds of
$1,984,998. The Note is secured by the Company's Certificate of
Deposit held with the Lender with an approximate balance of
$2,000,000

The Note shall bear interest at a rate of five percent per annum.
Interest shall be calculated based on a year of 360 days. The Note
shall be due in full immediately upon Lender's demand. If no demand
is made, Borrower will pay all outstanding principal and all
accrued unpaid interest on June 2, 2026. In addition, the Borrower
will pay regular monthly payments of all accrued interest due as of
each payment date, beginning July 2, 2025. The Borrower may prepay
all or a portion of the principal without penalty earlier than it
is due. If a payment is 10 days or more late, the Borrower will be
charged a late charge 5.00% of the unpaid portion of the regular
payment. The Lender reserves a right of setoff in all of the
Borrower's accounts with the Lender (whether checking, savings, or
some other account). The Borrower authorizes the Lender, to the
extent permitted by applicable law, to charge or setoff all sums
owing on the indebtedness against any and all such accounts. The
Note provides for a commercial guaranty by Michael McLaren.

Among others, the following shall constitute an event of default
under the Note: if the Borrower fails to make any payment when due
under the Note; if the Borrower fails to comply with or to perform
any other term, obligation, covenant, or condition contained in the
Note or any related documents; any representation or statement made
by the Borrower to the Lender is false or misleading in any
material respect; a change in ownership of 25% or more of the
common stock of the Borrower; or a material adverse change in the
Borrower's financial condition. Upon an Event of Default, the
interest rate on the Note shall be 18.00%.

The Note contains covenants applicable to the Borrower pertaining
to the line of credit, including, among others, that the Borrower
agrees to: maintain books and records of its operations to the need
for the line of credit; permit the Lender or any of the Lender's
representatives, inspect and/or copy the Books and Records; and to
provide the Lender any documentation requested which support the
reason for making any advance under the line of credit. Further,
the Note provides that the Borrower shall furnish from time to time
to the Lender, upon the Lender's request, copies of balance sheets
of the Borrower, and copies of statements of income and cash flows
of the Borrower.

A full text of the Note is available at
https://tinyurl.com/mwx98sxk

                        About Safe & Green

Safe & Green Holdings Corp. is a modular solutions company
headquartered in Miami, Florida. The company specializes in the
development, design, and fabrication of modular structures,
focusing on safe and green solutions across various industries.

The Woodlands, Texas-based M&K CPAS, PLLC, the Company's auditor
since 2024, issued a "going concern" qualification in its report
dated Mar. 31, 2025, attached to the Company's Annual Report on
Form 10-K for the year ended Dec. 31, 2024, citing that the Company
has incurred net losses since its inception, negative working
capital, and negative cash flows from operations, which raises
substantial doubt about its ability to continue as a going
concern.

As of Dec. 31, 2024, the Company had $6,071,524 in total assets,
$18,531,832 in total liabilities, and a total stockholders' deficit
of $12,460,308.


SAINT ELIZABETH UNIVERSITY: S&P Lowers 2016 Rev. Bond Rating 'BB-'
------------------------------------------------------------------
S&P Global Ratings lowered its long-term rating on the New Jersey
Educational Facilities Authority's series 2016 revenue bonds,
issued for Saint Elizabeth University (SEU), to 'BB-' from 'BB'.

The outlook is stable.

S&P said, "The downgrade reflects our view of SEU's trend of
significant enrollment declines over the past several years,
leading to weakened operations, and a possibility of a debt service
coverage (DSC) violation in fiscal 2025. In our view, continued
enrollment declines and limited liquidity will hinder the
university's ability to stabilize operations and could restrict
SEU's ability to fully pay debt service in the future.

"We analyzed SEU's environmental, social, and governance credit
factors pertaining to its market position, management and
governance, and financial performance, and found them to be neutral
in our credit rating analysis.

"The stable outlook reflects our expectation that operating
challenges will likely continue throughout the outlook period given
the continued, material enrollment decrease recorded in fall 2024.
However, management projects the first-year class size will be up
in fall 2025, which could lead to some enrollment stabilization.
Although we expect management will implement strategies to
right-size operations during this time, we believe the continued
enrollment pressure could make stabilizing operations difficult. We
expect financial resources will remain consistent for the rating.

"We could consider a negative rating action if SEU's operating
deficits persist or worsen due to continued enrollment declines. We
would also view negatively continued failure to meet financial
covenants in fiscal 2026 and weakening of financial resource
ratios. An event of default resulting in acceleration of debt would
likely result in a lower rating.

"Although unlikely within the outlook period, we could consider a
positive rating action if operations improve such that the
university is consistently in compliance with its covenants and
enrollment shows signs of stability, with demand metrics remaining
at or near current levels. Finally, we would view favorably
financial resources growth or improved liquidity."



SALON SUITES: Seeks Chapter 11 Bankruptcy in New York
-----------------------------------------------------
On June 13, 2025, Salon Suites Holding Inc. filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District of
New York. According to court filing, the
Debtor reports $1,818,083 in debt owed to 1 and 49 creditors.
The petition states funds will not be available to unsecured
creditors.

           About Salon Suites Holding Inc.

Salon Suites Holding Inc. is a Brooklyn-based salon suites operator
that operates salon suite rental spaces where beauty professionals
can lease individual salon areas, with a property located at 2230
Church Avenue in Brooklyn.

Salon Suites Holding Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42883) on June
13, 2025. In its petition, the Debtor reports total assets of $935
and total liabilities of $1,818,083.

Honorable Bankruptcy Judge Jil Mazer-Marino handles the case.

The Debtors are represented by Michael A. King, Esq.


SANCTUARYSPA INC: Seeks Subchapter V Bankruptcy in California
-------------------------------------------------------------
On June 12, 2025, Sanctuaryspa Inc. filed Chapter 11 protection in
the U.S. Bankruptcy Court for the Central District of California.
According to court filing, the Debtor reports $1,032,222 in
debt owed to 1 and 49 creditors. The petition states funds will be
available to unsecured creditors.

           About Sanctuaryspa Inc.

Sanctuaryspa Inc. is a boutique day spa in Long Beach offering a
range of services including facials, massages, body treatments,
dermaplaning, chemical peels, and DiamondGlow treatments. The spa
customizes services to individual needs and emphasizes a holistic
approach to skincare. It operates in a tranquil setting designed to
promote wellness and relaxation.

Sanctuaryspa Inc. sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-14964) on
June 12, 2025. In its petition, the Debtor reports total assets of
$50,397 and total liabilities of $1,032,222.

The Debtors are represented by Michael Jay Berger, Esq. at LAW
OFFICES OF MICHAEL JAY BERGER.


SANTA PAULA HAY: Hires Bean Hunt Harris & Company as Accountant
---------------------------------------------------------------
Santa Paula Hay & Grain and Ranches seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Bean Hunt Harris & Company as accountant.

The firm will provide these services:

     a. provide payroll services;

     b. provide monthly bookkeeping services;

     c. provide financial statement preparation;

     d. assist in preparing Monthly Operating Reports and other
financial documents;

     e. prepare tax returns;

     f. provide controller services; and

     g. provide chief financial officer services.

The firm will be paid at these rates:

     Owner/CPA            $350 per hour
     Manager/CPA          $250 to $250 per hour
     Staff Accountants    $100 to $180 per hour
     Clerical/Admin.      $60 to $80 per hour
     Bookkeeping          $80 to $100 per hour

The firm received a retainer in the amount of $125,000.

Bean Hunt Harris & Company is a disinterested person and neither
represents nor holds any interest adverse to the Debtor, its
estate, or the creditors, according to court filings.

The firm can be reached through:

     David E. Harris, CPA, CTRS, CGMA
     Bean Hunt Harris & Company
     620 W Cromwell Ave Suite 106
     Fresno, CA 93711
     Phone: (559) 221-5071
     Fax: (559) 221 5075
     Email: administrative@bhhcpas.com

      About Santa Paula Hay & Grain and Ranches

Santa Paula Hay & Grain and Ranches specializes in providing a
variety of hay and grain products to meet the needs of farmers and
animal owners. The Company offers high-quality feed options for
livestock and pets.

Santa Paula Hay & Grain and Ranches sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on
March 12, 2025. In its petition, the Debtor reports estimated
assets between $100 million and $500 million and between $10
million and $50 million.

Honorable Bankruptcy Judge Ronald A. Clifford III handles the
case.

The Debtor is represented by:

     Reed Olmstead, Esq.
     LAW OFFICES OF REED H. OLMSTEAD
     5142 Hollister Ave #171
     Santa Barbara, CA 93111
     Tel: (805) 963-9111
     Email: reed@olmstead.law



SANTA PAULA HAY: Seeks to Hire Haberbush LLP as Legal Counsel
-------------------------------------------------------------
Santa Paula Hay & Grain and Ranches seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Haberbush, LLP as counsel.

The firm will provide these services:

     (a) advise, consult, prosecute for, and defend the Debtor
concerning issues arising in regard to the conduct of the estate,
its rights and remedies with regard to the estate's assets, and the
claims of secured, priority and unsecured creditors;

     (b) appear for and represent the Debtor's interest in
obtaining court approval for the hiring of professionals, and
assist and advise regarding the liquidation of the estate's
property;

     (c) investigate and prosecute, if appropriate, preference,
fraudulent transfer, and other actions arising under the Debtor's
avoiding powers, should such causes of action exist;

     (d) assist in the preparation of such pleadings, applications,
and orders as are required for the orderly administration of this
estate;

     (e) advise, consult and represent Debtor in such legal actions
as are necessary concerning the use and disposition of property of
the estate;

     (f) advise and consult with Debtor, prosecute for it, and
defend concerning claims made against the estate or claims made by
the estate;

     (g) advise, consult and prosecute the approval of a plan of
reorganization; and

     (h) advise, consult, and assist the Debtor with the Guidelines
of the United States Trustee, the Local Bankruptcy Rules of this
court, Title 11 of the United States Code, and the Federal Rules of
Bankruptcy Procedure.

The firm will be paid at these rates:

     David Haberbush, Attorney      $550 per hour
     Richard Brownstein, Attorney   $550 per hour
     Vanessa Haberbush, Attorney    $350 per hour
     Lane Bogard, Attorney          $325 per hour
     Alexander Haberbush, Attorney  $250 per hour

The firm received a retainer in the amount of $300,000.

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

Mr. Haberbush 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. Haberbush, Esq.
     Haberbush LLP
     444 West Ocean Boulevard, Suite 1400
     Long Beach, CA 90802
     Telephone: (562) 435-3456
     Facsimile: (562) 435-6335
     Email: dhaberbush@lbinsolvency.com

      About Santa Paula Hay & Grain and Ranches

Santa Paula Hay & Grain and Ranches specializes in providing a
variety of hay and grain products to meet the needs of farmers and
animal owners. The Company offers high-quality feed options for
livestock and pets.

Santa Paula Hay & Grain and Ranches sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on
March 12, 2025. In its petition, the Debtor reports estimated
assets between $100 million and $500 million and between $10
million and $50 million.

Honorable Bankruptcy Judge Ronald A. Clifford III handles the
case.

The Debtor is represented by:

     Reed Olmstead, Esq.
     LAW OFFICES OF REED H. OLMSTEAD
     5142 Hollister Ave #171
     Santa Barbara, CA 93111
     Tel: (805) 963-9111
     Email: reed@olmstead.law


SEAHAWK BIDCO: Cliffwater Corporate Marks $2.4MM Loan at 50% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,461,152
loan extended to Seahawk Bidco, LLC to market at $1,235,635 or 50%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Seahawk Bidco,
LLC. The loan accrues interest at a rate of 1.00% per annum. The
loan matures on November 28, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

              About Seahawk Bidco, LLC

Seahawk Bidco, LLC is a holding company that facilitated the
acquisition of Love Saving Group. The company's primary business is
an energy comparison and procurement service.


SEAHAWK BIDCO: Cliffwater Corporate Marks $3.6MM Loan at 83% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,636,364
loan extended to Seahawk Bidco, LLC to market at $603,423 or 17% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Seahawk Bidco,
LLC. The loan accrues interest at a rate of 9.07% per annum. The
loan matures on December 18, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

        About Seahawk Bidco, LLC

Seahawk Bidco, LLC is a holding company that facilitated the
acquisition of Love Saving Group. The company's primary business is
an energy comparison and procurement service.


SECRET BIDCO: Cliffwater Corporate Marks $1.4MM Loan at 50% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,476,691
loan extended to Secret Bidco Limited to market at $741,381 or 50%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Secret Bidco Limited.
The loan accrues interest at a rate of .50% per annum. The loan
matures on November 28, 2030.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

              About Secret Bidco Limited

Shilton Bidco Limited operates as a special purpose entity. The
Company was formed for the purpose of issuing debt securities to
repay existing credit facilities, refinance indebtedness, and for
acquisition purposes.


SHARPLINK GAMING: Jane Street Entities Hold 8.3% Stake
------------------------------------------------------
Jane Street Group, LLC, Jane Street Capital, LLC, and Jane Street
Global Trading, LLC, disclosed in a Schedule 13G filed with the
U.S. Securities and Exchange Commission that as of May 30, 2025,
they beneficially owned a total of 4,911,280 shares of common stock
of SharpLink Gaming, Inc., representing 8.3% of the 59,426,620
outstanding as of May 30, 2025 according to the S-3 Registration
Statement filed on May 30.

Jane Street Group, LLC may be reached through:

     Tien-Fu Liu, Managing Director
     250 Vesey Street, 6th Floor
     New York, NY 10281
     Tel: 212-651-6069

                       About SharpLink Gaming

SharpLink Gaming, Inc., operates as a marketing partner to
sportsbooks and online casino gaming operators globally. SharpLink
Gaming operates as a marketing partner to sportsbooks and online
casino gaming operators globally. Based in Minneapolis, Minnesota,
the Company operates PAS.net, an affiliate marketing network that
facilitates player acquisition and engagement for regulated iGaming
operators. It also manages a portfolio of state-specific affiliate
websites targeting local sports betting and online casino
audiences. It also manages a portfolio of state-specific affiliate
websites targeting local sports betting and online casino
audiences.

Cherry Bekaert LLP, the Company's auditor since 2022, included a
"going concern" qualification in its audit report on the 2024
annual results. The firm cited recurring losses and negative
operating cash flows as factors that raise substantial doubt about
the Company's ability to continue operating.

The Company has a track record of net losses and noted that it may
be unable to achieve or sustain profitability going forward. The
Company experienced net income of $10,099,619 for the year ending
Dec. 31, 2024, compared to a net loss of $14,243,182 for the years
ended Dec. 31, 2023. As of Dec. 31, 2024, the Company had an
accumulated deficit of $(77,808,959).


SHIELDCOAT TECHNOLOGIES: Unsecureds Will Get 22.48% over 5 Years
----------------------------------------------------------------
Shieldcoat Technologies, Inc. filed with the U.S. Bankruptcy Court
for the Eastern District of Texas a Plan of Reorganization dated
June 5, 2025.

The Debtor started operations in February 2004. The Debtor operates
a contract manufacturing for medical, defense and electronics
industry business.

The Debtor elected to file a chapter 11 reorganization as the best
means to resolve the current liabilities of the company and
determine the secured portions of those creditors.

The Debtor proposes to pay allowed unsecured based on the
liquidation analysis and cash available. Debtor anticipates having
enough business and cash available to fund the plan and pay the
creditors pursuant to the proposed plan. It is anticipated that
after confirmation, the Debtor will continue in business. Based
upon the projections, the Debtor believes it can service the debt
to the creditors.

The Debtor will continue operating the businesses. The Debtor's
Plan will break the existing claims into six classes of Claimants.
These claimants will receive cash repayments over a period of time
beginning on or after the Effective Date.

Class 6 consists if Allowed Unsecured Claims. All allowed unsecured
creditors shall receive a pro rata distribution at zero percent per
annum over the next five years beginning not later than the 1st day
of the first full calendar month following 30 days after the
effective date of the plan and continuing every year thereafter on
a monthly basis at 0.00% per annum. Debtor will distribute
$350,500.00 to the general allowed unsecured creditor pool over the
5-year term of the plan, includes the under-secured claim portions.
The Debtor’ General Allowed Unsecured Claimants will receive
22.48% of their allowed claims under this plan. The allowed
unsecured claims total $1,559,081.60.

Class 8 consists of Equity Interest Holders. The current owners
will receive no payments under the Plan; however, they will be
allowed to retain ownership in the Debtor. Class 6 Claimants are
not impaired under the Plan.

The Debtor anticipates the continued operations of the business to
fund the Plan.

A full-text copy of the Plan of Reorganization dated June 5, 2025
is available at https://urlcurt.com/u?l=qxrZig from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Robert C. Lane, Esq.
     The Lane Law Firm, PLLC
     6200 Savoy, Suite 1150
     Houston, TX 77036
     Telephone: (713) 595-8200
     Facsimile: (713) 595-8201
     Email: notifications@lanelaw.com

        About Shieldcoat Technologies Inc.

Shieldcoat Technologies, Inc. dba Cybershield, specializes in
metallized plastic solutions, offering services such as EMI/RFI
shielding, ESD control, chrome plating, and military specification
(Mil-Spec) coatings, including CARC coatings. The Company provides
electroless and electroplating services, conductive paint
applications, and FIP gaskets for various industries, including
consumer electronics, telecommunications, industrial equipment,
medical devices, and military/aerospace sectors. Additionally,
Cybershield offers value-added services such as injection molding,
mechanical assembly, and other manufacturing support to streamline
production and improve supply chain efficiency.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Texas Case No. 25-90067) on March 7,
2025. In the petition signed by Bobby J. Marshal, chief executive
officer, the Debtor disclosed $824,621 in assets and $3,005,698 in
liabilities.

Judge Joshua P Searcy oversees the case.

Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as
bankruptcy counsel.


SILICON VALLEY: Consolidated Class Action Dismissal Bids Survive
----------------------------------------------------------------
Sarah Jarvis of Law360 reports that a California federal judge has
refused to toss out three dismissal motions in a proposed
shareholder class action targeting Silicon Valley Bank's
executives, underwriters, and auditor over the bank's 2023
collapse, ruling that the plaintiffs presented sufficiently
detailed claims to move forward.

                  About Silicon Valley Bank

Silicon Valley Bank was the nation's 16th largest bank and the
biggest to fail since the 2008 financial meltdown.  

During the week of March 6, 2023, Silicon Valley Bank, Santa Clara,
CA, experienced a severe "run-on-the-bank."  On the morning of
March 10, 2023, the California Department of Financial Protection
and Innovation seized SVB and placed it under the receivership of
the Federal Deposit Insurance Corporation (FDIC).  

The FDIC on March 13, 2023, disclosed that it transferred all
deposits -- both insured and uninsured -- and substantially all
assets of the former Silicon Valley Bank of Santa Clara,
California, to a newly created, full-service FDIC-operated "bridge
bank" in an action designed to protect all depositors of Silicon
Valley Bank.

SVB Financial Group is a financial services company focusing on the
innovation economy, offering financial products and services to
clients across the United States and in key international markets.
Prior to March 10, 2023, SVB Financial Group owned and operated
Silicon Valley Bank, a state-chartered bank.  

On March 17, 2023, SVB Financial Group sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 23-10367). The Hon. Martin
Glenn is the bankruptcy judge. The Debtor had assets of
$19,679,000,000 and liabilities of $3,675,000,000 as of Dec. 31,
2022. Centerview Partners LLC is proposed financial advisor,
Sullivan & Cromwell LLP proposed legal counsel and Alvarez & Marsal
proposed restructuring advisor to SVB Financial Group as
debtor-in-possession.  Kroll is the claims agent.

On June 13, 2023, a collective of depositors of the Silicon Valley
Bank (Cayman Islands Branch) filed a petition with the Court
seeking an order that SVB Cayman be wound up and liquidators be
appointed under the provisions of the Companies Act (2023 Revision)
on the grounds that the Company is insolvent.

On June 29, 2023, the Grand Court of the Cayman Islands appointed
Andrew Childe and Michael Pearson of FFP limited in the Cayman
Islands and Niall Ledwidge from Stout in New York, United States as
Joint Official Liquidators of SVB Cayman.

Liquidators of Silicon Valley Bank (Cayman Islands) filed a Chapter
15 bankruptcy petition (Bankr. S.D.N.Y. Case No. 24-10076) on Jan.
18, 2024. The Liquidators' counsel in the U.S. case is Warren E.
Gluck, Esq. at Holland & Knight LLP.


SILVERROCK DEVELOPMENT: Gets Court OK for $60MM Stalking Horse Bid
------------------------------------------------------------------
Jeff Montgomery of Law360 reports that a Delaware bankruptcy judge
on Tuesday, June 17, 2025, approved a $60 million stalking horse
bid for a 134-acre property southeast of Los Angeles -- formerly
part of a planned resort project -- despite valuation objections
from the property owner and a creditor, and several unsettled
claims. The offer is intended to jumpstart the bidding process for
the site.

            About Silverrock Development Company, LLC

SilverRock Development Company, LLC, is a San Diego, Calif.-based
company primarily engaged in renting and leasing real estate
properties.

SilverRock filed a Chapter 11 petition (Bankr. D. Del. Lead Case
No. 24-11647) on Aug. 5, 2024, with $100 million to $500 million in
both assets and liabilities. Robert S. Green, Jr., chief executive
officer, signed the petition.

Judge Mary F. Walrath handles the case.

The Debtor is represented by Jonathan M. Stemerman, Esq., at
Armstrong Teasdale.


SRP CAPITAL: Perth Amboy Property Sale to 395-397 Mechanical OK'd
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey has
approved SRP Capital LLC to sell its Property, free and clear of
liens, interests, and encumbrances.

The Court has approved the Debtor to sell the real property
commonly known as 395-397 Mechanic Street, Perth Amboy, New Jersey
to 395-397 Mechanical LLC in the purchase price of $750,000.

The proceeds of sale may be applied to satisfy the liens on the
Real Property unless the liens are otherwise avoided by court
order.

The Court ordered the Debtor to pay the real estate broker and
Debtor's real estate attorney at closing.

Name of Professionals: Robert C. Nisenson, Esq.,
Name of Realtor: EXP Realty Services
Amount to be paid: $2,699.00/$4,000.00

Services Rendered: Attorney for Bankruptcy/Realtor/Real Estate
Attorney. The $2,699 for bankruptcy counsel shall be held in escrow
pending approval of a fee application.

EXP Realty Services shall not be paid at closing until the debtor
files an application to retain it as a realtor to the debtor and
the Court approves such application. If the closing occurs prior to
the Court approving an application to retain EXP Realty Services,
then the $4,000.00 shall be held in escrow by the debtor.

Other closing fees payable by the Debtor may be satisfied from the
proceeds of sale and adjustments to the price as provided for in
the contract of sale may be made at closing.

The proceeds of the sale shall be applied to pay in full at closing
the mortgage.

Other provisions: The lien of BSI Financial Services shall remain
on the premises commonly known as 395-397 Mechanic Street, Perth
Amboy, New Jersey and will be paid in full on the closing date in
accordance with their payoff letter provided at closing.

All real estate taxes and water and sewer fees will be paid at the
time of closing.

               About SRP Capital LLC

SRP Capital LLC filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 23-15309)
on June 20, 2023, with as much as $1 million in both assets and
liabilities. Judge Stacey L. Meisel oversees the case.

Robert C. Nisenson, LLC serves as the Debtor's bankruptcy counsel.


STORABLE INC: Moody's Affirms B3 CFR Following Dividend Recap
-------------------------------------------------------------
Moody's Ratings affirmed Storable, Inc.'s (Storable or 'the
company') B3 Corporate Family Rating and B3-PD Probability of
Default Rating. Concurrently, Storable's senior secured first lien
term loan and senior secured 1st lien revolving credit facility
ratings were upgraded to B2 from B3. The outlook remains stable.   
        

Storable intends to issue an incremental $50 million in first lien
term loan debt, along with a new $185 million junior HoldCo loan
agreement (unrated). Proceeds from the incremental loans will be
used with cash on hand to fund a shareholder distribution and
related fees. Pro forma for the transaction, the company's capital
structure will consist of an undrawn $100 million first lien
revolving credit facility expiring 2029, a $970 million first lien
term loan B due 2031, and a $185 million junior HoldCo loan
agreement due 2032.

The affirmation of Storable's CFR highlights its reliable recurring
revenues, positive free cash flow, and good liquidity with no debt
due until 2029, despite a highly leveraged capital structure, While
the proposed transaction is seen as credit negative due to
increased leverage and aggressive financial policies, the company
is expected to improve its financial metrics and reduce leverage to
more acceptable levels over the next 12-18 months, supported by its
stable cash flows and revenue growth.

Governance risk considerations are material to the rating action.
Governance risk considerations are tied to the company's aggressive
financial strategy, characterized by the issuance of incremental
debt to fund a distribution to equity holders.

RATINGS RATIONALE

Storable's B3 corporate family rating reflects its predictable
recurring revenues, positive free cash flow, and good liquidity
with no debt due until 2029 (undrawn revolver), despite its highly
leveraged capital structure. Moody's views the proposed transaction
as credit negative, citing the deterioration of key credit metrics
and continued deployment of an aggressive financial policy as
primary concerns. The incremental debt burden will elevate pro
forma leverage on a debt/EBITDA basis (as adjusted by Moody's
Ratings) to a very high 9.0x from 7.1x for the last twelve month
period ending March 31, 2025. Moody's cash adjusted debt/EBITDA pro
forma for the transaction declines about a full turn to the low 8x
range. Moody's cash adjusted leverage is calculated by adding back
non-recurring expenses, stock-based compensation and change in
deferred revenue.

Nevertheless, Moody's believes that Storable will improve its
financial metrics to levels more consistent with peers in the
broader B3 rating category over the next 12-18 months. Accordingly,
Moody's expects leverage (as adjusted by Moody's Ratings) to
decline closer to 8x by the end of 2025 and to the mid-7x range by
2026, driven by its stable cash flows and healthy top-line growth -
absent any further debt-funded transactions.

The ratings also reflect its small size (as measured by recurring
revenues)and narrow market focus as a provider of integrated
technology and software solutions to property owners and managers
in the self-storage commercial real estate sector as well as other
end markets such as marine and RVs and campgrounds. The ratings
also reflect the company's highly acquisitive track record, and
Moody's expectations that Storable will continue to expand its
platform through debt-funded acquisitions in the future. These
challenges are partially offset by Storable's healthy profit
margins and free cash flow generation, driven by its strong base of
subscription business and high customer retention rates. The
ratings also reflect the company's leading presence and market
share within the niche segment of software solutions for
self-storage real estate.

The upgrade of the company's senior secured first lien credit
facilities reflects the facility's higher expected recovery under a
default scenario benefitting from the loss absorption provided by
the increased amount of junior debt (unrated). Storable's debt
instrument ratings are determined in conjunction with Moody's Loss
Given Default for Speculative-Grade Companies methodology and
reflect average recovery across the capital structure.

The stable outlook reflects Moody's expectations that Storable will
continue to grow its products and service capabilities while
maintaining healthy operating earnings through economic cycles. It
also reflects Moody's expectations that this growth will facilitate
timely improvement in its leverage metrics.

THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if Storable profitably expands its
scale while adhering to a more conservative financial strategy,
resulting in debt to EBITDA (Moody's adjusted) sustained below 6.5x
and annual free cash flow to debt sustained above 5%.

The ratings could be downgraded if Storable experiences a weakening
competitive position, free cash flow deficits on a sustained basis,
or a more aggressive financial policy that prevents meaningful
deleveraging such that debt/EBITDA is sustained above 8x.

Storable, Inc., headquartered in Austin, Texas is a privately held
company that provides integrated technology and software solutions
to property owners and managers in the self-storage commercial real
estate sector as well as other end markets such as marine and RVs
and campgrounds. Storable is owned by private equity firms EQT
Partners and Cove Hill Partners, following a leveraged buyout
("LBO") transaction.

The principal methodology used in these ratings was Software
published in June 2022.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


SUNNOVA ENERGY: NYSE to Delist Shares After Chapter 11 Filing
-------------------------------------------------------------
The New York Stock Exchange disclosed in a 25-NSE that it has
notified the U.S. Securities and Exchange Commission of its
intention to remove the Common Stock of Sunnova Energy
International Inc. from listing and registration on the Exchange at
the opening of business on June 23, 2025, pursuant to the
provisions of Rule 12d2-2(b) because, in the opinion of the
Exchange, the Common Stock is no longer suitable for continued
listing and trading on the Exchange.

The Exchange reached its decision that the Company is no longer
suitable for listing pursuant to NYSE Listed Company Manual Section
802.01D after the Company's June 9, 2025 disclosure that on June 8,
2025, the Company, Sunnova Energy Corporation and Sunnova
Intermediate Holdings, LLC each filed voluntary petitions for
relief under chapter 11 of title 11 of the United States Code in
the United States Bankruptcy Court for the Southern District of
Texas. In reaching its delisting determination, NYSE Regulation
notes the uncertainty as to the ultimate effect of this process on
the value of the Company's Common Stock.

On June 9, 2025, the Exchange determined that the Company's Common
Stock should be suspended from trading and directed the preparation
and filing with the Commission of this application for the removal
of the Common Stock from listing and registration on the NYSE. The
Company was notified on June 9, 2025. The Company had a right to
appeal to a Committee of the Board of Directors of the Exchange the
determination to delist the Common Stock, provided it filed a
written request for such a review with the Secretary of the
Exchange within ten business days of receiving notice of the
delisting determination.

On the same date the Company notified the Exchange that it does not
intend to appeal. Consequently, all conditions precedent under SEC
Rule 12d2-2(b) to the filing of this application have been
satisfied.

               About Sunnova TEP Developer LLC

Sunnova TEP is a Houston-based subsidiary of the Sunnova group
specializes in renewable energy, with a focus on electric power
generation, transmission, and distribution. Primarily active in the
solar energy sector, the company is likely involved in developing
solar projects and creating financing solutions for solar
installations. Its main office is located at 20 East Greenway
Plaza, Houston, Texas.

Sunnova TEP sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Tex. Case No. 25-90153) on June 1, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $100 million and $500 million each.

Honorable Bankruptcy Judge Alfredo R. Perez handles the case.

The Debtor is represented by Jason Gary Cohen, Esq. at Bracewell
LLP.


TIGHT LINES: Hearing on Bid to Use Cash Collateral Set for June 24
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, Wilmington Division is set to hold a hearing on June 24
to consider another extension of Tight Lines Family Medicine, PA's
authority to use cash collateral.

The Debtor's authority to use cash collateral pursuant to the
court's June 17 interim order expires today.

The June 17 interim order approved the payment of the Debtor's
expenses from the cash collateral in accordance with its budget and
granted its lenders a continuing replacement lien on their
collateral, with the same validity, perfection, extent and priority
as held by the lenders prior to the petition date.

The Debtor has identified six UCC-1 financing statements securing
liens from various creditors, including McKesson Corporation, ASD
Specialty Healthcare, AmerisourceBergen, and unidentified lenders
through CT Corporation System and Corporation Services Company.
These filings appear to cover a blanket lien on the Debtor's cash
and accounts receivable.

The Debtor acknowledges these parties may have pre-bankruptcy
claims on its cash collateral but reserves the right to later
dispute the validity or priority of their claims.

              About Tight Lines Family Medicine, PA

Tight Lines Family Medicine, PA filed Chapter 11 petition (Bankr.
E.D. N.C. Case No. 25-02137) on June 6, 2025, listing up to
$500,000 in assets and up to $1 million in liabilities. Max Brandon
Ludlum, president of Tight Lines Family Medicine, signed the
petition.

Judge Joseph N. Callaway oversees the case.

JM Cook, Esq., at J.M. Cook, P.A., represents the Debtor as legal
counsel.


TOP SHELV: Unsecured Creditors Will Get 66% of Claims in Plan
-------------------------------------------------------------
Top Shelv Worldwide, LLC filed with the U.S. Bankruptcy Court for
the Eastern District of Michigan an Amended Combined Plan and
Disclosure Statement dated June 6, 2025.

The Debtor, a Michigan limited liability company founded in January
2013 and headquartered in Auburn, Michigan, owns a
climate-controlled, state-of-the-art, indoor sports and
recreational dome facility at 5117 Garfield Road, Auburn, Michigan
48611 (the "Facility").

The Debtor is a wholly-owned subsidiary of Auburn Holdco, a
Michigan limited liability company. Auburn Holdco is owned by
Manojkumar Shah and Ricken Shah.

Unfortunately, the Debtor was struck with another unexpected blow
shortly upon its emergence. Following the COVID-19 pandemic, the
business was forced to shut down. Like many businesses of its kind,
the Debtor once again found itself in a desperate financial state.
On or around October 5, 2022, WBL gave Shah Sports a loan for
(ostensibly) $1,100,000 pursuant to the WBL Note.

Only one month after execution of the loan documents, a heavy storm
damaged the Facility. The Debtor's operations seized as a result,
and the Debtor was unable to make payments on the WBL Note. On
December 16, 2023, WBL issued a notice of foreclosure with a
sheriff sale. On October 19, 2023, when foreclosure was imminent,
the Debtor filed this Chapter 11 Case.

Class 5 consists of General Unsecured Claims against the Debtor.
Except to the extent that a Holder of an Allowed General Unsecured
Claim agrees to a less favorable treatment, each Holder of an
Allowed General Unsecured Claim shall receive, on the Effective
Date, Cash equal to sixty-six percent of its Allowed General
Unsecured Claim. The allowed unsecured claims total $180,652.85.
Class 5 is Impaired under the Plan.

The Debtor has agreed to Allow the Shaw Integrated Claim. The
Holder of the Shaw Integrated Claim shall be entitled to receive a
Cash distribution of $ 100,000, in full and final satisfaction of
the Shaw Integrated Claim.

Class 7 consists of Equity Interests. On the Effective Date, Equity
Interests shall be cancelled and discharged without any
distribution. Class 7 is Impaired under the Plan.

On the Effective Date or at such time as the Claims receiving Cash
distributions are Allowed, the Plan Sponsor shall make the New
Value Contribution, in an amount sufficient to fund such Cash Plan
Distributions. The amount of such New Value Contribution is
estimated to be approximately $1,335,000 on the Effective Date. In
consideration of the New Value Contribution, the Plan Sponsor shall
receive one hundred percent of the equity in the Reorganized
Debtor.

The Debtor shall fund distributions under the Plan with: (i) New
Value Contributions, (ii) the Debtor's Cash on hand, and (iii) the
proceeds of any Causes of Action retained by the Reorganized
Debtor. Each distribution and issuance referred to in ARTICLE VI of
the Plan shall be governed by the terms and conditions set forth in
the Plan applicable to such distribution or issuance and by the
terms and conditions of the instruments or other documents
evidencing or relating to such distribution or issuance, which
terms and conditions shall bind each entity receiving such
distribution or issuance.

A full-text copy of the Amended Combined Plan and Disclosure
Statement dated June 6, 2025 is available at
https://urlcurt.com/u?l=tAxvv4 from PacerMonitor.com at no charge.

Counsel to the Debtor:

     Stephen P. Stella, Esq.
     Simon, Stella & Zingas, P.C.
     645 Griswold, Ste. 3466
     Detroit, MI 48226
     Tel: (313) 962-6400
     Email: atttorneystella@sszpc.com

         About Top Shelv Worldwide

Top Shelv Worldwide, LLC, owns the property constituting the land
and facility known as the Tri-City Sports Complex at Williams
Township, Bay County, Michigan.

Top Shelv sought bankruptcy protection several times. Top Shelv
filed for Chapter 11 bankruptcy (Bankr. E.D. Mich. Case No.
15-21770) on Aug. 31, 2015, a plan was confirmed May 6, 2016. Top
Shelv again sought protection (Bankr. E.D. Mich. Case No. 17-21434)
on July 14, 2017.

Top Shelv most recently sought Chapter 11 protection (Bankr. E.D.
Mich. Case No. 23-21248) on Oct. 19, 2023.

The Hon. Daniel S. Oppermanbaycity is the case judge.

Stephen P. Stella, Esq., at Simon, Stella & Zingas PC serves as the
Debtor's counsel.


TUI BAYSIDE: Seeks to Hire Mancuso Law PA as Bankruptcy Counsel
---------------------------------------------------------------
TUI Bayside LLC seeks to hire the U.S. Bankruptcy Court for the
Southern District of Florida to hire Mancuso Law, P.A. as counsel.

The firm will render these services:

     (a) give advice to Debtor with respect to its powers and
duties as debtor-in-possession and the continued management of its
business operations;

     (b) advise Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the Court;

     (c) prepare motions, pleadings, orders, applications,
adversary proceedings, and other legal documents necessary in the
administration of the case;

     (d) protect the interests of Debtor in all matters pending
before the Court;

     (e) represent Debtor in negotiation with its creditors in the
preparation of a plan.

The firm will be paid at the rate of $400 per hour, and a retainer
in the amount of $26,800.

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

Nathan G. Mancuso, Esq., a partner at Mancuso Law, 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:

     Nathan G. Mancuso, Esq.
     Mancuso Law, P.A.
     Boca Raton Corporate Centre
     7777 Glades Rd., Suite 100
     Boca Raton, FL 33434
     Tel: (561) 245-4705
     Fax: (561) 226-2575
     Email: ngm@mancuso-law.com

      About TUI Bayside LLC

TUI Bayside LLC is a limited liability company.

TUI Bayside LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16337) on
June 4, 2025. In its petition, the Debtor reports estimated assets
between $1 million and $10 million and estimated liabilities
between $100,000 and $500,000.

Honorable Bankruptcy Judge Laurel M. Isicoff handles the case.

The Debtors are represented by Nathan G. Mancuso, Esq. at MANCUSO
LAW, P.A.


USIC HOLDINGS: Cliffwater Corporate Marks $6.6MM Loan at 78% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $6,678,050
loan extended to USIC Holdings, Inc. to market at $1,473,852 or 22%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to USIC Holdings,
Inc. The loan accrues interest at a rate of 9.81%, 4.00% PIK per
annum. The loan matures on September 10, 2031.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

            About USIC Holdings, Inc.

Headquartered in Indianapolis, Indiana, USIC is a leading provider
of outsourced infrastructure locating and marking services to
telephone, electric, natural gas, cable, fiber optic and water
utilities in the US. The company operates in 48 states in the U.S.
and one province in Canada. The company is privately owned by
private equity fund Partners Group and an investor group led by
Kohlberg & Company. Moody's expects 2024 revenue of over $1.5
billion.


USRP HOLDINGS: Cliffwater Corporate Marks $4.9MM Loan at 46% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,990,249
loan extended to USRP Holdings, Inc. to market at $2,704,872 or 54%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to USRP Holdings,
Inc. The loan accrues interest at a rate of 9.32% per annum. The
loan matures on July 23, 2027.

CCLFX is a Delaware statutory trust registered under the Investment
Company Act of 1940, as a closed-end management investment company
operating as an interval fund. The Fund operates under an Agreement
and Declaration of Trust, as most recently amended and restated on
September 15, 2021. The Fund operates as a diversified fund, which
means that at least 75% of the value of its total assets is
represented by cash and cash items, government securities,
securities of other investment companies, and other securities for
the purposes of this calculation limited in respect of any one
issuer to an amount not greater than 5% of the value of the total
assets of the Fund and to not more than 10% of the outstanding
voting securities of such issuer. Cliffwater LLC serves as the
investment adviser of the Fund.

CCLFX is led by Stephen Nesbitt, President and Principal Executive
Officer, and Lance J. Johnson as Principal Financial Officer.

The Fund can be reach through:

Stephen Nesbitt
Cliffwater Corporate Lending Fund
235 West Galena Street
Milwaukee, WI 53212
Telephone: (414) 299-2000

          About USRP Holdings, Inc.

USRP Holdings, Inc. is the parent organization of U.S. Retirement
Partners, Inc. It was founded in 2011. In March 2025, U.S.
Retirement & Benefits Partners rebranded to Daybright Financial.
USRP also has ties to Ettus Research, which is known for its
Universal Software Radio Peripheral (USRP) devices used in wireless
research and development.


VENUS CONCEPT: To Sell Venus Hair Biz to Meta Healthcare for $20M
-----------------------------------------------------------------
Venus Concept Inc. disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that the Company entered
into a Unit Purchase Agreement by and among the Company, Meta
Robotics LLC and MHG Co., Ltd. pursuant to which the Company agreed
to sell the Venus Hair Business to Meta Healthcare Group in an
all-cash transaction valued at $20 million, subject to a customary
working capital adjustment.

Under the terms of the Purchase Agreement, Meta Healthcare Group
will acquire Meta, a newly formed subsidiary of the Company,
containing the Company's portfolio of hair restoration and hair
transplant technologies, related equipment, services and assets,
including intellectual property relating to the ARTAS and NeoGraft
technologies. Additionally, Meta Healthcare Group will assume the
Company's manufacturing and research and development facility in
San Jose, California, as well as the rights to manufacture
NeoGraft. Meta Healthcare Group will grant a perpetual,
royalty-free, worldwide license to the Company with respect to a
subset of transferred patents pursuant to a license agreement to be
entered into between the parties.

The Purchase Agreement contains customary representations,
warranties and covenants for a transaction of this type. The
Company has also agreed not to solicit proposals relating to
alternative business combination transactions with respect to the
Venus Hair Business, subject to certain exceptions that permit the
Company's Board of Directors to comply with its fiduciary duties.

The Transaction is expected to close in the third quarter of 2025,
subject to the satisfaction or waiver of certain closing
conditions, including, without limitation: an internal
reorganization of the Venus Hair Business within Meta; governmental
and regulatory approvals; required consents, including those of
certain customers, suppliers and those required pursuant to the
Republic of Korea foreign exchange regulation; a financial
statement review; and the execution of a License Agreement.

A full-text copy of the Unit Purchase Agreement is available at
https://tinyurl.com/y8xevsjc

                        About Venus Concept

Toronto, Ontario-based Venus Concept Inc. is an innovative global
medical technology company that develops, commercializes, and
delivers minimally invasive and non-invasive medical aesthetic and
hair restoration technologies and related services. The Company's
systems have been designed on cost-effective, proprietary, and
flexible platforms that enable the Company to expand beyond the
aesthetic industry's traditional markets of dermatology and plastic
surgery, and into non-traditional markets, including family
medicine and general practitioners and aesthetic medical spas.

Mississauga, Canada-based MNP LLP, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 31, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31, 2024, citing that the Company
has reported recurring net losses and negative cash flows from
operations, which raises substantial doubt about its ability to
continue as a going concern.

As of September 30, 2024, Venus Concept had $72.28 million in total
assets, $61.65 million in total liabilities, $520,000 in
non-controlling interests, and $10.11 million in total
stockholders' equity.



VF CORP: Moody's Cuts CFR to 'Ba2' & Alters Outlook to Negative
---------------------------------------------------------------
Moody's Ratings downgraded V.F. Corporation's (VF Corp.) corporate
family rating to Ba2 from Ba1 and its probability of default rating
to Ba2-PD from Ba1-PD. Additionally, Moody's downgraded VF Corp.'s
senior unsecured notes ratings to Ba2 from Ba1, senior unsecured
shelf and senior unsecured MTN program ratings to (P)Ba2 from
(P)Ba1, subordinate shelf rating to (P)Ba3 from (P)Ba2 and
preferred shelf rating to (P)B1 from (P)Ba3. Moody's also
downgraded its speculative grade liquidity rating (SGL) to SGL-3
from SGL-2. The outlook was changed to negative from stable.

The downgrades and negative outlook reflect VF Corp.'s need for
significant continued operational initiatives to support the
turnaround of its Vans business. While Moody's views the
transformation initiatives positively, the actions continue to be
extensive and require a longer time frame than expected to return
the Vans brand to profitable growth. Although its cost saving
initiatives have been successful and are well underway as
inventories are realigned to support more full price selling, the
company credit metrics, albeit improved, remain weaker than
anticipated with debt/EBITDA of 5.1x and EBITA/interest of 2.1x as
of March 2025. In addition, the difficult consumer spending
environment and uncertain tariff environment present notable risks
to realizing and sustaining the revenue and gross margin
improvements required to improve credit metrics to levels that are
reflective of a Ba2 rating. The downgrade to SGL-3 from SGL-2
reflects Moody's expectations for liqudity to be adequate with
approximately of $300 million free cash flow in fiscal 2026 as
cushion remains limited on its current bank covenant over the next
12-18 months.

RATINGS RATIONALE

VF Corp.'s Ba2 CFR is supported by its position as one of the
largest global apparel, footwear, and accessory companies, with
revenue of about $9.5 billion for the twelve months ended March
2025. Although the company has multiple brands in its portfolio,
its financial performance is weighted toward The North Face and
Vans, its two largest brands. VF Corp.'s ratings also reflect
governance considerations, including the its public commitment to a
2.5x leverage target (per the company's definition). Moody's
projects debt/EBITDA, which is currently elevated, to decline to
around 4.4x at the end of VF Corp.'s fiscal 2026. However, Moody's
expects EBITA/interest coverage will remain depressed at 2.5x. The
company has reduced costs by over $300 million with a significant
portion to be reinvested as several organization changes have
supported streamlining processes. Liquidity is adequate as VF Corp.
is expected to remain in compliance with the maintenance covenant
in its revolver credit facility, despite limited cushion, as free
cash flow and revolver borrowings will be used to repay its
upcoming $540 million March 2026 debt maturity.

The negative outlook is supported by Moody's views that although
operating trends should improve in the second half of fiscal 2026
as full price selling increases and top line trends at Vans
stabilize, the challenging consumer environment and higher costs
from tariffs remain significant risks to its execution. The outlook
also reflects its limited cushion under its existing covenant
associated with its unsecured revolver.  

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

Ratings could be upgraded should each of its major business
segments post consistent sales and profit growth and with evidence
of solid health of its major brands. A ratings upgrade would also
require at least good liquidity, including positive free cash flow,
and a conservative financial policy. Quantitatively, VF Corp.'s
rating could be upgraded if lease-adjusted debt/EBITDA is sustained
comfortably below 4.0x, EBITA/interest is above 3.5x.

Ratings could be downgraded should VF Corp.'s operational
performance not improve or liquidity deteriorates for any reason.
Quantitatively, VF Corp.'s ratings could be downgraded if
lease-adjusted debt/EBITDA is sustained above 4.5x or
EBITA/interest is sustained below 2.5x. Also, the addition of
signficant secured debt to its capital structure could result in a
downgrade of its unsecured ratings.

Headquartered in Denver, Colorado, V.F. Corporation is a leader in
branded lifestyle apparel, footwear and related accessories. Its
largest brands, include The North Face, Vans, Timberland, and
Dickies. Revenue was approximately $9.5 billion for the twelve
months ended March 30, 2025.

The principal methodology used in these ratings was Retail and
Apparel published in November 2023.

The net effect of any adjustments applied to rating factor scores
or scorecard outputs under the primary methodology(ies), if any,
was not material to the ratings addressed in this announcement.


VILLAGE ROADSHOW: Court OKs $417.5MM Chapter 11 Asset Sale
----------------------------------------------------------
Vince Sullivan of Law360 Bankruptcy Authority reports that on
Wednesday, June 18, 2025, a Delaware bankruptcy court approved
Village Roadshow Entertainment Group's $417.5 million sale of its
film library -- featuring hits like The Matrix, Ocean's Eleven, and
Sherlock Holmes -- after the company reported that all outstanding
objections to the deal had been settled.

           About Village Roadshow Entertainment Group USA Inc.

Village Roadshow Entertainment Group USA Inc. and its affiliates
are a prominent independent producer and financier of major
Hollywood films, having produced over 100 successful movies since
1997. Their portfolio includes globally recognized blockbusters
such as "Joker," "The Great Gatsby," and the "Matrix" trilogy.
Before the WB Arbitration, which began in 2022, the Company had a
profitable and well-established co-production and co-financing
partnership with Warner Bros. Entertainment Inc. and its affiliates
("WB"), resulting in many successful projects. The Debtor's most
valuable assets include its Film Library and Derivative Rights,
stemming from its extensive and enduring film industry presence.

Village Roadshow Entertainment Group USA Inc. and its affiliates
sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
D. Del. Lead Case No. 25-10475) on March 17, 2025. In the petitions
signed by Keith Maib, chief restructuring officer, the Debtors
disclosed up to $500 million in estimated assets and up to $1
billion in estimated liabilities.

Honorable Bankruptcy Judge Thomas M. Horan handles the cases.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP as local
counsel; Sheppard, Mullin, Richter & Hampton LLP as bankruptcy
counsel; Kirkland & Ellis LLP as special litigation counsel;
Accordion Partners, LLC as financial and restructuring advisor; and
Solic Capital Advisors, LLC as investment banker. Kurtzman Carson
Consultants, LLC, doing business as Verita Global, is the Debtors'
claims and noticing agent and administrative advisor.


VIRGINIA PARK: Seeks Chapter 11 Bankruptcy in New York
------------------------------------------------------
On June 10, 2025, Virginia Park 1 LLC filed Chapter 11 protection
in the U.S. Bankruptcy Court for the Southern District of New York.
According to court filing, the Debtor reports 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 Virginia Park 1 LLC

Virginia Park 1 LLC provides real estate-related services,
including property management and support activities, in connection
with properties in Michigan.

Virginia Park 1 LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11308) on June
10, 2025. In its petition, the Debtor reports estimated assets
between $1 million and $10 million and estimated liabilities
between $500,000 and $1 million.

Honorable Bankruptcy Judge Martin Glenn handles the case.

The Debtors are represented by Andrew K. Glenn, Esq., Jed I.
Bergman, Esq., Richard Ramirez, Esq., and Malak S. Doss, Esq. at
GLENN AGRE BERGMAN & FUENTES LLP


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

The committee members are:

   1. Industrial Power Generating Company, LLC
      c/o Archaea Energy
      Attn: Guy Chapman
      201 Helios Way, Floor 6
      Houston, TX 77079
      Phone: 804-356-9603
      gchapman@archaea.energy

   2. Mr. Bult's Inc.
      Attn: Richard Borgetti
      2627 E. 139th St.
      Burnham, IL 60603
      Phone: 708-585-3306
      rborgetti@mrbults.com

   3. One Environmental Group
      Attn: Kerry McAvoy
      100 Walton Park Lane
      Midlothian, VA 23114
      Phone: 410-456-6433
      kmcavoy@oneenv.com  

Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About VWS Holdco Inc.

VWS Holdco, Inc. owns and operates the Shoosmith Landfill located
in Chester, Virginia in Chesterfield County.

VWS Holdco sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 25-10979) on June 1,
2025, listing up to $50,000 in assets and $100 million to $500
million in liabilities. Fred Nichols, president of VWS Holdco,
signed the petition.

Judge J. Kate Stickles presides over the case.

John W. Weiss, Esq. and Leah M. Eisenberg, Esq., at Pashman Stein
Walder Hayden P.C., represent the Debtor as legal counsel.


WATER ENERGY: To Sell Big Spring Property to 2 Kneel for $90K
-------------------------------------------------------------
Water Energy Services, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas, San Antonio Division, to
sell Property, free and clear of liens, claims, and encumbrances.

The Debtor's Property is located at 2809 N Hwy 87, Big Spring,
Texas 79720.

The Debtor wants to sell the Property to 2 Kneel, LLC for $90,000.

The closing date of the sale will be on June 27, 2025 and the
earnest money is $5,000.00.

The Debtor is aware of the following purported liens and interests
against the Property:

- OSC Energy, LLC with $128,584.62
- Howard County (Property Tax) with Approximately $30,000

At closing, the Debtor seeks authority to pay the following:

a. The Howard County for property taxes in the approximate amount
of $30,000; and
b. OSC Energy, LLC, in the amount of $25,000 in partial
satisfaction of its abstracted judgment lien, with any remaining
proceeds remitted to the Debtor.

The Debtor further reserves the right to decline to pay a Known
Secured Creditor in full at closing if the estate possesses an
avoidance or other claim against a lienholder or the sort of facts
which would allow the Debtor to rely upon.

The Debtor also seeks authority to pay certain expenses and
commissions at closing. They include:

a. Preparation of the deed and any bill of sale;
b. Any required prorated taxes;
c. Costs to cure title objections; and
d. Any other costs of closing.

The Debtor believes that the Contract is the highest and best offer
that will be received for the Property.

             About Water Energy Services, LLC

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.


WAYSIDE SCHOOLS: S&P Affirms 'BB' Rating on 2021A/B Revenue Bonds
-----------------------------------------------------------------
S&P Global Ratings revised the outlook to stable from positive and
affirmed its 'BB' long-term rating on Arlington Higher Education
Finance Corp., Texas' series 2021A and 2021B education revenue
bonds and on Travis County Cultural Educational Facilities Corp.'s
series 2012 qualified zone academy bonds and 2012A bonds, issued
for Wayside Schools.

S&P said, "The outlook revision reflects our view of the school's
more modest operating performance in recent years, including a
budgeted full-accrual deficit in fiscal 2025, with near-break-even
expectations for fiscal 2026.

"We analyzed environmental, social, and governance factors and
consider them neutral in our credit rating analysis.

"The stable outlook reflects our expectation that over the one-year
outlook period, the school will maintain enrollment growth trends
with operating performance and lease-adjusted maximum annual debt
service coverage above 1x, following a likely deficit in fiscal
2025 and coverage potentially just shy of 1x. We also expect the
school will remain in compliance with all financial covenants.

"We could take a negative rating action if the school saw a trend
of negative operating results, a significant softening in
lease-adjusted maximum annual debt service coverage, sustained
enrollment declines, or a continued material drawdown on reserves.

"We could consider a positive rating action should Wayside Schools
increase enrollment back to pre-pandemic levels and demonstrate a
trend of financial metrics commensurate with those of similarly
rated peers, amid continued moderation of debt."



WELLPATH HOLDINGS: McDuff's Objections to Bankruptcy Stay Denied
----------------------------------------------------------------
In the case captioned as RICHARD McDUFF, Plaintiff, v. KRISTEN
JONES, et al., Defendant, Case No. 23-cv-11739 (E.D. Mich.), Judge
F. Kay Behm of the United States District Court for the Eastern
District of Michigan overruled Richard McDuff's objections to the
Magistrate Judge Kimberly G. Altman's order extending the Wellpath
bankruptcy stay to Rickey Coleman, D.O.

This is a prisoner civil rights case. Plaintiff Richard McDuff,
proceeding pro se and in forma pauperis, has sued Michigan
Department of Corrections Registered Dietitian Kristen Jones,
Healthcare Unit Manager Magen Oaks, and Rickey Coleman, D.O. under
42 U.S.C. Sec. 1983 for alleged violations of his constitutional
rights.

On Feb. 11, 2025, Judge Altman granted Dr. Coleman's emergency
motion to extend the Wellpath bankruptcy stay to individual
Wellpath defendants, i.e., himself.

McDuff filed four objections to extending the stay as to Dr.
Coleman. However, the Court does not find any reason to evaluate
the merits of those objections, because the stay has ended as to
Dr. Coleman.

The record reflects that the stay was originally only until Feb.
19, 2025. On Feb. 21, 2025, Dr. Coleman provided the court with
notice that the stay was extended by the bankruptcy court to the
earlier of:

   (a) the effective date of a confirmed chapter 11 plan;
   (b) dismissal of the chapter 11 cases of the Debtors; or
   (c) April 30, 2025.

The Magistrate Judge then entered a text-only order extending the
stay as to Dr. Coleman according to those dates. No order or notice
has since updated those dates.

According to the Court, because no further notice has been provided
by Dr. Coleman that the stay was extended, and no further order has
been entered by the Magistrate Judge, the stay expired as to Dr.
Coleman on or before April 30, 2025. McDuff's objections to that
stay are thus moot and his objections are each overruled on that
basis. The Magistrate Judge's orders are affirmed.

A copy of the Court's Order dated June 11, 2025, is available at
https://urlcurt.com/u?l=4L4N4A from PacerMonitor.com.

                    About Wellpath Holdings

Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc.,
is a provider of medical and mental healthcare in jails, prisons,
and inpatient and residential treatment facilities.

Wellpath Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 24-90533) on Nov. 11, 2024.  Timothy Dragelin, chief
restructuring officer and chief financial officer, signed the
petitions.

At the time of the filing, the Debtors reported $1 billion to $10
billion in assets and liabilities.

Judge Alfredo R. Perez oversees the cases.

The Debtors tapped Marcus A. Helt, Esq. at McDermott Will & Emery,
LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial
advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as
investment banker.


WELLPATH HOLDINGS: Withdrawal Notice of Riley's Counsel Denied
--------------------------------------------------------------
Magistrate Judge Christopher L. Ray of the United States District
Court for the Southern District of Georgia denied the request of
Marla Riley's counsel to withdraw from their representation of the
defendant in the case captioned as ERNEST LEE DENSON, Plaintiff, v.
MARLA RILEY and TREVONZA BOBBITT, Defendants, Case No. 24-cv-0004
(S.D. Ga.). Plaintiff's request for appointed counsel is denied.

This case was stayed pursuant to 11 U.S.C. Sec. 362 until the
Bankruptcy Court grants relief from the stay, closes the bankruptcy
case, or dismisses the petition.  Defendant Riley filed a status
report indicating that the United States Bankruptcy Court for the
Southern District of Texas has confirmed Wellpath Holdings, Inc.'s
Chapter 11 Reorganization Plan and that the bankruptcy stay with
respect to Riley has been lifted and is no longer in place. Riley
is the only party to this case shielded by Wellpath's declaration
of bankruptcy. Therefore, the Clerk is directed to lift the stay
and enter a new scheduling notice. Now that the automatic stay is
lifted, there are a number of motions and filings that require
attention.

Defendant Riley's Counsels' Notice of Withdrawal

The Court has informed Riley's counsel that if they would like to
withdraw, they must file a request that complies with all of the
requirements of the Local Rule. Their notice of withdrawal neither
complies with Local Rule 83.7 nor includes any request for Court
action. If Riley's counsel still intend to withdraw they must file
a motion requesting such relief. In that motion, they must either:

   (a) include a certification of compliance showing that notice
has been mailed to Riley's last known address or
   (b) provide the Court with Riley's last known address.

Plaintiff's Request for Appointed Counsel

According to the Court, Plaintiff has no constitutional right to
counsel in this civil case.

General lack of education, including legal education, is also not a
sufficient basis to require appointment of counsel. As Plaintiff's
submissions have been clear and cogent, the Court does not find any
"exceptional circumstance" that warrants appointment of counsel.
Plaintiff's request for appointed counsel is, therefore, denied.

A copy of the Court's Order dated June 11, 2025, is available at
https://urlcurt.com/u?l=lPb62m from PacerMonitor.com.

                   About Wellpath Holdings

Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc.,
is a provider of medical and mental healthcare in jails, prisons,
and inpatient and residential treatment facilities.

Wellpath Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 24-90533) on Nov. 11, 2024.  Timothy Dragelin, chief
restructuring officer and chief financial officer, signed the
petitions.

At the time of the filing, the Debtors reported $1 billion to $10
billion in assets and liabilities.

Judge Alfredo R. Perez oversees the cases.

The Debtors tapped Marcus A. Helt, Esq. at McDermott Will & Emery,
LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial
advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as
investment banker.


WHITESTONE UPTOWN: Amends Motion to Sell Dallas Property
--------------------------------------------------------
Whitestone Uptown Tower, LLC, a/k/a Pillarstone Capital REIT
Operating Partnership seeks permission from the U.S. Bankruptcy
Court for the Northern District of Texas, Dallas Division, in a
second amendment to sell Property, free and clear of liens, claims,
and encumbrances.

The Debtor seeks to sell its primary asset, a 12-story, 253,000
square-foot office tower located at 4144 North Central Expressway
in Dallas, Texas.

The Debtor wants to sell the Property to Bradford Property Company,
Inc. for the price of $20,000,000.

The Debtor has received a Third Amendment and Reinstatement to
Contract of Sale to sell the Property for the price of
$20,000,000.00 from Bradford Property Company, Inc.

The Third Amendment does not change the $20,000,000.00 purchase
price for the Property as previously approved by the Court, but
revises the amount and manner in which the earnest money will be
paid and distributed. Should the Court approve this Third
Amendment, the $150,000.00 in earnest money currently on hand with
the title company shall remain with the title company and an
additional $75,000.00 in earnest money shall be deposited by the
Buyer according to Section 7 of the Third Amendment. All
distributions of earnest money from the title company shall be
subject to further order of the Court.

Of the additional $75,000.00 in earnest money, $25,000.00 shall
become nonrefundable and the remaining $50,000.00 shall be subject
to refund to Buyer if the Buyer's financing contingency is not
satisfied pursuant to Section 8 of the Third Amendment.

The Closing Date of the Purchase Agreement shall be 21 days after
the Debtor delivers to Buyer a copy of this Court's Order approving
the sale filed in the public record.

              About Whitestone Uptown Tower, LLC

Whitestone Uptown Tower, LLC is a Single Asset Real Estate debtor
(as defined in 11 U.S.C. Section 101(51B)).

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 23-32832) on December 1,
2023. In the petition signed by Bradford Johnson, authorized
representative, the Debtor disclosed up to $50 million in both
assets and liabilities.

Judge Michelle V Larson oversees the case.

Joyce Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
represents the Debtor as legal counsel.


WILCOV HOLDINGS: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------
Wilcov Holdings, Inc. got the green light from the U.S. Bankruptcy
Court for the Northern District of Georgia, Atlanta Division, to
use cash collateral.

The court's order authorized the Debtor's interim use of cash
collateral from June 10 to July 10 in accordance with its four-week
budget, which shows total expenses of $14,119.

The Debtor's cash collateral consists of revenue from its business
in which FC Marketplace, LLC, Bridgewell Capital, LLC and Velocity
Commercial Capital, LLC hold an interest. FC Marketplace asserts a
first priority security interest.

As protection for the Debtor's use of their cash collateral, the
lenders will be granted a valid and properly perfected replacement
lien on all property acquired by the Debtor after the petition date
that is similar to their pre-bankruptcy collateral.

A final hearing will be held on July 10.

The Debtor, a holding company owned by Adrienne and Oliver
Williford, owns three commercial rental properties in Georgia
(College Park, Macon, and Riverdale) and has no employees. It
experienced financial difficulties after turning to a high-interest
lender in response to reduced tenant income in late 2023 and early
2024. Although rental payments have recently improved, a
foreclosure action on the Riverdale property prompted the Debtor to
seek bankruptcy protection to reorganize its debts.

                    About Wilcov Holdings Inc.

Wilcov Holdings, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55970) on May 30,
2025.

Joel D. Myers, Esq., at Myers Law, LLC, is the Debtor's bankruptcy
counsel.

Bridgewell Capital, LLC, as lender, is represented by:

   Arthur A. Ebbs, Esq.
   Womble Bond Dickinson (US), LLP
   1331 Spring Street NW
   Suite 1400
   Atlanta, GA 30309
   Telephone: (404) 872-7000
   arthur.ebbs@wbd-us.com


WILCOV HOLDINGS: Seeks Approval to Hire Myers Law LLC as Attorney
-----------------------------------------------------------------
Wilcov Holdings Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to hire Myers Law, LLC as its
attorney.

The firm's services include:

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

     b. preparing on behalf of the Debtor as Debtor-in-Possession
necessary schedules,
applications, motions, answers, orders, reports and other legal
matters;

     c. assisting in examination of the claims of creditors;

     d. assisting with formulation and preparation of the required
disclosures and plan of reorganization and with the confirmation
and consummation thereof; and

     e. performing all other legal services for the Debtor as
Debtor-in-Possession that may be necessary.

Joel D. Myers, Esq. will undertake this representation at his
standard hourly rate of $300/hr.

Myers Law, LLC will receive a retainer in the amount $10,000.

Myers Law, LLC represents no interest adverse to the Debtor as
Debtor-in-Possession or the estate in the matters upon which it is
to be engaged, according to court filings.

The firm can be reached through:

     Joel D. Myers, Esq.
     Myers Law, LLC
     600 East Granger Rd 2d floor
     Cleveland, OH 44131
     Phone: (216) 236-8202

        About Wilcov Holdings Inc.

Wilcov Holdings Inc. sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55970) on May
30, 2025. The Debtor is represented by Myers Law, LLC.


WINDTREE THERAPEUTICS: Issues Notes, Warrants to Fund Titan Deal
----------------------------------------------------------------
Windtree Therapeutics, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that on June 5,
2025, the Company entered into a note purchase agreement, herein
referred as the "June 5 Note Purchase Agreement" with DFU, LLC,
pursuant to which the Company issued DFU a Convertible Promissory
Note in the principal amount of $3,600,000 and a warrant to
purchase common stock of the Company.

The June 5 Convertible Note and June 5 Warrant were sold in
reliance upon an exemption from the registration requirement of the
Securities Act of 1933, as amended, pursuant to Section 4(a)(2)
thereof and/or Rule 506(b) of Regulation D promulgated thereunder.
The Company received gross proceeds of $3,100,000 from the sale of
the June 5 Convertible Note and June 5 Warrant, before deducting
offering expenses. The June 5 Note Purchase Agreement provides that
all proceeds from the June 5 Note Financing will go towards
retiring convertible notes and preferred stock of Titan
Environmental Services, Inc., a Nevada Corporation, which will be
accomplished through the use of proceeds Titan will receive from
the Company for purchase of the Standard Note.

On June 9, 2025, the Company entered into note purchase agreements,
herein referred as the the "June 9 Note Purchase Agreement" with
each of Keystone Capital Partners, LLC, Seven Knots, LLC, C/M
Capital Master Fund LP and WVP Emerging Manager Onshore Fund,
pursuant to which the Company issued each June 9 Note Purchaser a
convertible promissory note, and a warrant to purchase shares of
the Company's Common Stock. Keystone and Seven Knots each received
a June 9 Convertible Note in the principal amount of $232,550. C/M
received a June 9 Convertible Note in the principal amount of
$116,280. WVP received a June 9 Convertible Note in the principal
amount of $348,837. The June 9 Convertible Notes and June 9
Warrants were sold in reliance upon an exemption from the
registration requirement of the Securities Act, pursuant to Section
4(a)(2) thereof and/or Rule 506(b) of Regulation D promulgated
thereunder. The Company received $800,000 in funding from the sale
of the June 9 Convertible Notes and June 9 Warrants, before
deducting offering expenses. The Company intends to use the
proceeds from the June 9 Note Financing for operational expenses
and to fund the Titan Bridge Loans.

Subject to certain limitations under the June 5 and June 9 Note
Purchase Agreements, while any portion of the June 5 and June 9
Convertible Notes is outstanding, the Company must inform DFU and
the June 9 Note Purchasers of any proceeds received by the Company
from the issuance of its securities. After receipt of this notice,
DFU and the June 9 Note Purchasers will have ten trading days to
require that the Company apply all proceeds received from the sale
of its securities to repay any or all of the amount outstanding
under the June 5 and June 9 Convertible Notes.

Additionally, the Company has agreed to register the offering and
resale of the shares of the Company's common stock, par value
$0.001 underlying the June 5 and June 9 Convertible Notes and the
June 5 and June 9 Warrants by filing a registration statement on
Form S-1 with the United States Securities and Exchange Commission
within 20 trading days from the execution of the June 5 Note
Purchase Agreement and the June 9 Note Purchase Agreement.

The June 5 and June 9 Note Purchase Agreements contain certain
covenants and customary representations and warranties of the
Company and the parties, piggyback registration rights,
restrictions on variable rate transactions, participation rights,
indemnification obligations of the parties, termination provisions,
and other obligations and rights of the parties.

                   June 5, 2025 Convertible Promissory Note
                 and June 9, 2025 Convertible Promissory Note

DFU and the June 9 Note Purchasers may exercise their conversion
rights under the June 5 and June 9 Convertible Notes at any time
after the Issue Date, as defined therein, until all amounts owed
under the June 5 and June 9 Convertible Notes have been satisfied.
The June 5 Convertible Note will be a senior, unsecured obligation
of the Company, with priority over all existing and future
indebtedness; the June 9 Note Purchasers will not be entitled to
any payments of principal or interest until the company has repaid
all outstanding obligations under the June 5 Convertible Note.
Interest for the June 5 Convertible Note and the June 9 Convertible
Note will be payable in cash or, at the holder's election beginning
6 months after issuance, by increasing the outstanding principal in
the aggregate principal amount of the interest accrued for the
applicable interest period. Interest will accrue at a rate of 14%
per annum, provided, however, that for the first 6 months following
the Issue Date, interest on the principal will accrue immediately
and be guaranteed. The rate of interest will increase immediately
in connection with any Event of Default, as defined therein, up to
an interest rate of 24% and will compound daily until the Event of
Default is cured or the outstanding principal and accrued but
unpaid interest is paid in full. Interest will be payable quarterly
in arrears commencing September 15, 2025. The June 5 Convertible
Note may be prepaid in full or in part in accordance with the terms
therein.

The holders may not exercise their conversion rights if the
conversion would result in the holders (and their affiliates)
beneficially owning in excess of 4.99% of the number of shares of
Common Stock outstanding immediately after giving effect to the
conversion, which percentage may be increased up to 9.99% at the
holder's election with 61 days prior written notice to the
Company.

The number of shares of Common Stock to be issued upon each
conversion is determined by dividing the Conversion Amount, as
defined therein, by the applicable Conversion Price then in effect
on the date specified in the notice of conversion. The Conversion
Amount is the sum of the principal to be converted plus, at the
holder's election, any accrued and unpaid interest. The Conversion
Price, subject to adjustment, is $0.587.

The June 5 Convertible Note will mature on June 5, 2026, or such
earlier date as the June 5 Convertible Note is required or
permitted to be repaid in accordance with its terms. The June 9
Convertible Note will mature on June 9, 2026, or such earlier date
as the June 9 Convertible Note is required or permitted to be
repaid in accordance with its terms.

                           June 5, 2025 Warrant
                         and June 9, 2025 Warrant

In connection with the June 5 Note Financing, the Company issued
DFU the June 5 Warrant to purchase an aggregate of $2,700,000 worth
of shares of the Company's Common Stock. The June 5 Warrant has an
exercise price of $0.587 per share, subject to adjustment, is
immediately exercisable and expires upon the earlier of:

     (1) five years from the date of issuance or
     (2) when the June 5 Warrant is exercised in full.

DFU will not have the right to exercise any portion of the June 5
Warrant if DFU (together with its affiliates) would beneficially
own in excess of 4.99%, as such percentage ownership is determined
in accordance with the terms of the June 5 Warrant, of the number
of shares of Common Stock outstanding immediately after giving
effect to the exercise, which percentage be increased up to 9.99%
at DFU's election with 61 days prior written notice to the Company.
The June 5 Warrant was sold in reliance upon an exemption from the
registration requirement of the Securities Act, pursuant to Section
4(a)(2) thereof and/or Rule 506(b) of Regulation D promulgated
thereunder.

In connection with the June 9 Note Financing, the Company issued
the June 9 Note Purchasers the June 9 Warrants.

Keystone and Seven Knots each received a June 9 Warrant to purchase
$150,000 worth of shares of the Company's Common Stock. C/M
received a June 9 Warrant to purchase $75,000 worth of shares of
the Company's Common Stock. WVP received a June 9 Warrant to
purchase $225,000 worth of shares of the Company's Common Stock.

The June 9 Warrant has an exercise price of $0.587 per share,
subject to adjustment, is immediately exercisable and expires upon
the earlier of:

     (1) five years from the date of issuance or
     (2) when the June 9 Warrant is exercised in full.

The holder will not have the right to exercise any portion of the
June 9 Warrant if the June 9 Note Purchasers (together with its
affiliates) would beneficially own in excess of 4.99% of the number
of shares of Common Stock outstanding immediately after giving
effect to the exercise, which percentage be increased up to 9.99%
at the holder's election with 61 days prior written notice to the
Company. The June 9 Warrant was sold in reliance upon an exemption
from the registration requirement of the Securities Act, pursuant
to Section 4(a)(2) thereof and/or Rule 506(b) of Regulation D
promulgated thereunder.

                      June 5, 2025 Senior Note

On June 5, 2025, the Company issued a senior note to Standard Waste
Services, LLC in the principal amount of $6,617,857, with an
original issuance discount of $1,985,357. The Standard Note matures
on the earlier of:

     (i) January 15, 2026 and
    (ii) the initial time of the Company's consummation of the
acquisition of all of the issued and outstanding equity of Titan.

The Standard Note does not accrue interest. If an Event of Default
occurs, as defined in the Standard Note, then Standard may (i)
declare all outstanding principal and other sums payable to be
immediately due and payable and (ii) exercise any and all of its
other rights under applicable law. The Company may prepay the
Standard Note.

                    About Windtree Therapeutics

Headquartered in Warrington, Pennsylvania, Windtree Therapeutics,
Inc. -- windtreetx.com -- is a biotechnology company focused on
advancing early and late-stage innovative therapies for critical
conditions and diseases. The Company's portfolio of product
candidates includes: (a) istaroxime, a Phase 2 candidate that
inhibits the sodium-potassium ATPase and also activates sarco
endoplasmic reticulum Ca2+ -ATPase 2a, or SERCA2a, for acute heart
failure and associated cardiogenic shock; preclinical SERCA2a
activators for heart failure; rostafuroxin for the treatment of
hypertension in patients with a specific genetic profile; and a
preclinical atypical protein kinase C iota, or aPKCi, inhibitor
(topical and oral formulations), being developed for potential
application in rare and broad oncology indications. The Company
also has a licensing business model with partnership out-licenses
currently in place.

Philadelphia, Pennsylvania-based EisnerAmper LLP, the company's
auditor since 2022, issued a "going concern" qualification in its
report dated April 15, 2025, attached to the Company's Annual
Report on Form 10-K for the year ended Dec. 31, 2024, citing that
the Company has suffered recurring losses from operations and
expects to incur losses for the foreseeable future, that raise
substantial doubt about its ability to continue as a going
concern.

As of Dec. 31, 2024, Windtree Therapeutics had $27.9 million in
total assets, $14.7 million in total liabilities, $3.2 million in
total mezzanine equity, and a total shareholders' equity of $10
million.


WINDTREE THERAPEUTICS: LOI to Sell Oncology Assets for Up to $137M
------------------------------------------------------------------
Windtree Therapeutics, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that the Company
entered into a non-binding letter of intent to explore a potential
transaction whereby a purchaser would:

     (i) acquire VAR 101, all intellectual property, all knowhow
and all pre-clinical data,
    (ii) acquire all other Varian assets owned by the Company,
   (iii) receive an option to acquire the cardiovascular assets of
the Company and
    (iv) receive an option to acquire the contract to manufacture
and supply Evofem with Phexxi.

The Company and the Varian Purchaser anticipate that the assets
under:

      (i) and (ii) above will be sold in exchange for $7 million of
either cash or freely trading shares of the Varian Purchaser's
stock, which consideration the Varian Purchaser will determine 7
days in advance of closing the Potential Transaction.

The options under (iii) and (iv) above will be exchanged for $5
million of either cash or freely trading shares of the Varian
Purchaser's stock, which consideration the Varian Purchaser will
determine 7 days in advance of closing. Additionally, the Company
anticipates the Varian Purchaser will pay certain milestone and
royalty payments to the Company.

In a press release issued by the Company on June 11, 2025, the
Company announced that it has received a non-binding letter of
intent to purchase its preclinical oncology aPKCi inhibitor
platform for $7.0 million dollars up front in cash or freely
tradable stock and up to $130 million in milestone payments and
high, single digit royalties up to $1.5 billion.

The agreement also includes options with additional consideration
to acquire the Company's cardiovascular clinical and preclinical
stage drug candidates and its agreement to act as the manufacturing
agent for Evofem Biosciences® for its FDA approved product. As
part of the agreement, the Company has 21 days to close the
oncology aPKCi portion of the transaction.

"Windtree is executing our refined new corporate strategy to pursue
opportunities in growing industries to become a revenue generating
company. This offer may provide the company non-dilutive cash and
potential for a very lucrative milestone and royalty stream," said
Jed Latkin, Chief Executive Officer of Windtree. "We do not view
the preclinical oncology aPKCi assets as a core part of our vision
going forward but want to make sure that our current shareholders
benefit from the development of the assets. Furthermore, we are
very intently looking at all options to increase shareholder value
by reducing the current cashflow burn and focusing on near term
accretive opportunities."

                    About Windtree Therapeutics

Headquartered in Warrington, Pennsylvania, Windtree Therapeutics,
Inc. -- windtreetx.com -- is a biotechnology company focused on
advancing early and late-stage innovative therapies for critical
conditions and diseases. The Company's portfolio of product
candidates includes: (a) istaroxime, a Phase 2 candidate that
inhibits the sodium-potassium ATPase and also activates sarco
endoplasmic reticulum Ca2+ -ATPase 2a, or SERCA2a, for acute heart
failure and associated cardiogenic shock; preclinical SERCA2a
activators for heart failure; rostafuroxin for the treatment of
hypertension in patients with a specific genetic profile; and a
preclinical atypical protein kinase C iota, or aPKCi, inhibitor
(topical and oral formulations), being developed for potential
application in rare and broad oncology indications. The Company
also has a licensing business model with partnership out-licenses
currently in place.

Philadelphia, Pennsylvania-based EisnerAmper LLP, the company's
auditor since 2022, issued a "going concern" qualification in its
report dated April 15, 2025, attached to the Company's Annual
Report on Form 10-K for the year ended Dec. 31, 2024, citing that
the Company has suffered recurring losses from operations and
expects to incur losses for the foreseeable future, that raise
substantial doubt about its ability to continue as a going
concern.

As of Dec. 31, 2024, Windtree Therapeutics had $27.9 million in
total assets, $14.7 million in total liabilities, $3.2 million in
total mezzanine equity, and a total shareholders' equity of $10
million.


WOLFSPEED INC: Nears Bankruptcy Agreement w/ Apollo, Other Lenders
------------------------------------------------------------------
Steven Church and Reshmi Basu of Bloomberg News report that
Wolfspeed Inc., a financially troubled chipmaker, is expected to
hand control over to creditors -- including Apollo Global
Management Inc. -- under a proposed plan that would see the company
enter a brief Chapter 11 process to shed billions in debt,
according to sources familiar with the matter.

The company is preparing to announce a prepackaged bankruptcy
agreement with its lenders, the sources said, requesting anonymity
due to the confidential nature of the talks. Following the signing
of the restructuring support agreement, Wolfspeed would solicit
creditor votes before filing for Chapter 11, one of the sources
noted.

                  About Wolfspeed Inc.

Wolfspeed, Inc. is an innovator of wide bandgap semiconductors,
focused on silicon carbide materials and devices for power
applications. Its product families include silicon carbide
materials and power devices targeted for various applications such
as electric vehicles, fast charging and renewable energy and
storage.


WOODHILL NC: Gets Interim OK to Use Cash Collateral
---------------------------------------------------
Woodhill NC, LLLC got the green light from the U.S. Bankruptcy
Court for the Middle District of North Carolina, Durham Division,
to use cash collateral.

The court's order authorized the Debtor's interim use of cash
collateral for essential business expenses as outlined in the
budget, with expenditures exceeding 10% of any line item requiring
court approval.

The Debtor's budget projects total operational expenses of
$22,871.74 for the period from May 20 to July 1.

The Debtor has several secured creditors with potential claims on
its cash collateral, including TowneBank (with a $7.45 million loan
secured by real estate and rental income), Angela and Gary Hill
(with a $1 million loan), Brian and Moyra Kileff (with loans
totaling up to $6.8 million), and the U.S. Small Business
Administration (with a $79,000 COVID-19 EIDL loan).

As protection for any diminution in value of cash collateral
utilized by the Debtor, secured creditors will be granted a
continuing post-petition replacement lien and security interest in
all property and categories of property of the same extent,
validity, and priority as said creditor held pre-petition.

As further protection, TowneBank will receive a monthly payment of
$16,956.24 from the Debtor.

A final hearing is scheduled for June 30.

The Debtor owns and operates a fully leased commercial shopping
center known as "South Green" in Carrboro, North Carolina. The
shopping center generates approximately $75,000 per month in rental
income, which is the Debtor's sole source of operating revenue. As
of the petition date, the Debtor held approximately $166,740 in
cash and intends to continue collecting rental income post-petition
to maintain business operations.

                         About Woodhill NC

Woodhill NC, LLLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-80120) on May 20,
2025, listing up to $50,000 in assets and up to $10 million in
liabilities. Brian Kileff, manager of Woodhill NC, signed the
petition.

Judge Lena M. James oversees the case.

Joseph Z. Frost, Esq., at Buckmiller & Frost, PLLC, represents the
Debtor as legal counsel.


WORKSPORT LTD: Adds Second Dealer, Eyes $21.5M B2B Revenue
----------------------------------------------------------
Worksport Ltd. announced a significant milestone: the addition of a
second national automotive distributor. This strategic agreement
expands the Company's partnered dealer network to over 550
locations across the United States -- representing a nearly 6x
increase since the beginning of 2025.

This momentum marks Worksport's second national distribution
agreement in under two months, following its April 2025 partnership
with Patriot Auto Group, which brought over 200 dealers under the
Worksport dealer network. The newest agreement adds access to
approximately 250 additional dealer accounts, further accelerating
the Company's penetration into high-value retail markets through
strategically aligned partners.

                   Repeatable Revenue at Scale Projected
                 to Exceed $21.5 Million, With Room to Grow

With more than 450 new accounts added year-to-date, up from 94 at
the start of the year, Worksport's U.S. dealer network is expanding
rapidly. As of today, the Company actively sells to 187 of its 550
dealer partners, with new accounts joining weekly.

At full activation, Worksport estimates these channels can support
over $21.5 million in annual repeatable revenue, alone (not
including B2C sales via its online platform), driven by ongoing B2B
traction and demand for its premium, American-made tonneau covers.
Importantly, this figure reflects revenue potential at current
scale -- a number that management expects to grow meaningfully as
dealer onboarding continues through the second half of this year.

Management reaffirms full-year 2025 revenue guidance of $20-$25
million, representing a 2.5-3x increase year-over-year. This surge
is supported by strong dealer adoption, expanding product
availability, and increasing gross margins across all sales
channels.

"Our strategic focus on supporting U.S. brick-and-mortar retailers
with Made-in-America products continues to prove itself," said
Steven Rossi, Chief Executive Officer of Worksport. "This milestone
validates the strength of our distribution model and the surging
demand for competitively priced, high-quality truck accessories.
With more than 17,000 potential dealer locations across the
country, we've only begun to tap into our total addressable market.
Following a 157% year-over-year increase in gross margin in Q1
2025, we are extremely optimistic about the road ahead."

                  Momentum Accelerates Across
                       All Sales Channels

In parallel with its expanding wholesale network, Worksport is
maintaining strong performance in its direct-to-consumer (DTC)
segment, generating approximately $1 million in monthly e-commerce
revenue – and growing. This dual-channel model -- B2B and DTC --
is expected to deliver sustained top-line growth through the
remainder of 2025, reinforcing the Company's diversified revenue
base and accelerating overall scalability.

These developments come ahead of the anticipated Fall 2025
commercial launch of SOLIS, Worksport's patented solar-integrated
tonneau cover, and COR, its portable energy storage system.
Together, these products are positioned to unlock new,
higher-margin revenue streams in multi-billion-dollar clean-tech
and off-grid power markets--well beyond the Company's core
automotive footprint.

                         Strategic Outlook:
                 Positioned for Multi-Vector Growth

With two national distributors onboard, scalable B2B infrastructure
in place, and high-impact clean energy products nearing launch,
Worksport is now executing across multiple growth vectors. The
Company remains focused on capturing greater market share,
enhancing operational efficiencies, and advancing toward
sustainable profitability and positive cash flow in fiscal 2025 and
beyond. Worksport's sales team is actively working to establish
additional meaningful, strategic B2B reseller accounts within the
US and Canadian markets.

                       About Worksport Ltd.

West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries,
designs, develops, manufactures, and owns intellectual property on
a portfolio of tonneau cover, solar integration, portable power
station, and NP (Non-Parasitic), Hydrogen-based green energy
products and solutions for the automotive aftermarket accessories,
power storage, residential heating, and electric vehicle-charging
industries.

Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor
since 2022, issued a "going concern" qualification in its report
dated Mar. 27, 2025, attached to the Company's Annual Report on
Form 10-K for the year ended Dec. 31, 2024, citing that the Company
has suffered recurring losses from operations and has an
accumulated deficit, that raise substantial doubt about its ability
to continue as a going concern. The Company recorded a net loss of
$16,163,789 for the year ended December 31, 2024, and has an
accumulated deficit of $64,476,966 as of December 31, 2024.

As of Dec. 31, 2024, the Company had $25,736,660 in total assets,
$8,323,029 in total liabilities, and a total stockholders' equity
of $17,413,631.


WORLD WIDE INVESTMENT: Seeks Chapter 11 Bankruptcy in Florida
-------------------------------------------------------------
On June 16, 2025, World Wide Investment Services LLC filed Chapter
11 protection in the U.S. Bankruptcy Court for the Middle District
of Florida. According to court filing, the Debtor reports
$11,490,235 in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About World Wide Investment Services LLC

World Wide Investment Services LLC is a real estate investment firm
that holds special warranty deeds on multiple vacant land parcels
along Maine Street, including those located at 604 and 370 Maine
Street, as well as two additional parcels without assigned street
addresses. The combined value of the Company's interests in these
properties totals $13.13 million.

World Wide Investment Services LLC sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03713)
on June 16, 2025. In its petition, the Debtor reports total assets
of $13,125,000 and total liabilities of $11,490,235.

Honorable Bankruptcy Judge Lori V. Vaughan handles the case.

The Debtors are represented by Jonathan M. Sykes, Esq. at NARDELLA
& NARDELLA, PLLC.


WST INDUSTRIES: Bankr. Administrator Unable to Appoint Committee
----------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Eastern District of North
Carolina disclosed in a filing that no official committee of
unsecured creditors has been appointed in the Chapter 11 case of
WST Industries LLC.

                       About WST Industries

WST Industries, LLC specializes in providing custom metal parts and
assemblies for industries such as automation, life sciences,
pharmaceuticals, and automotive. It offers services like laser
cutting, machining, welding, and metal reshaping, with capabilities
for both prototype and mass production. WST Industries operates
from a 31,000-square-foot facility equipped with advanced
technology to meet diverse customer needs.

WST Industries sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 25-01123) on March 28, 2025. In
its petition, the Debtor reported total assets of $492,708 and
total liabilities of $2,290,784.

Judge Pamela W. McAfee handles the case.

The Debtor is represented by William Kroll, Esq., at Everett
Gaskins Hancock Tuttle Hash, LLP.


ZAHAV VENTURES: Section 341(a) Meeting of Creditors on July 17
--------------------------------------------------------------
On June 17, 2025, Zahav Ventures LLC filed Chapter 11 protection in
the U.S. Bankruptcy Court for the Southern District of New York.
According to court filing, the Debtor reports between $10 million
and $50 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

A meeting of creditors under Section 341(a) to be held on July 17,
2025 at 02:00 PM at Office of UST (TELECONFERENCE ONLY).

           About Zahav Ventures LLC

Zahav Ventures LLC is involved in real estate-related activities.
Its principal  asset is located in Baltimore, Maryland.

Zahav Ventures LLCsought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22536) on June 17,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million.

The Debtors are represented by Kevin Nash, Esq. at GOLDBERG WEPRIN
FINKEL GOLDSTEIN LLP.


ZAMA&ZAMA INC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Zama&Zama Inc.
          d/b/a Karma and Luck
        1945 E. Russell Rd., Ste. 208
        Las Vegas, NV 89119-2708

Business Description: Zama & Zama Inc., doing business as Karma
                      and Luck, operates a retail business
                      specializing in spiritual jewelry and home
                      decor.  Its product offerings include
                      bracelets, necklaces, solid gold pieces,
                      earrings, rings, charms, and anklets, as
                      well as Tree of Life displays, ceramic
                      decor, sage kits, wooden home blessings,
                      large ceramics, and singing bowls.  The
                      Company is based in Las Vegas, Nevada, and
                      sources its merchandise internationally,
                      including from India and China.

Chapter 11 Petition Date: June 18, 2025

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 25-13501

Judge: Hon. August B Landis

Debtor's Counsel: Matthew C. Zirzow, Esq.
                  LARSON & ZIRZOW, LLC
                  850 E. Bonneville Ave.
                  Las Vegas, NV 89101
                  Tel: 702-382-1170
                  E-mail: mzirzow@lzlawnv.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Vladi Bergman as president and chief
executive officer.

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/JBOCZXQ/ZAMAZAMA_INC__nvbke-25-13501__0001.0.pdf?mcid=tGE4TAMA


ZIGI USA: Updates Unsecured Claims Details; Files Amended Plan
--------------------------------------------------------------
Zigi USA LLC submitted an Amended Combined Disclosure Statement and
Chapter 11 Plan of Reorganization dated June 6, 2025.

In the face of 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.

Historically, the Debtor's products were produced in and imported
from China. However, recently, due in no small part to the
imposition of substantial tariffs on Chinese imports, the Debtor
has begun relocating its manufacturing from China to other
countries, including India and Vietnam.

Class 2 consists of 942P Secured Claim. In full satisfaction,
release and discharge of the Allowed 942P Secured Claim, the 942P
Claim shall be an Allowed Claim in the amount of $100,000 and shall
be paid in full in the amount of the Allowed Claim with 5% interest
in equal monthly payments over the period of 24 months, beginning
the first business day of the next month following the Effective
Date or as may otherwise be agreed in writing between the Debtor
and the Holder of such Claim.

Class 3 consists of FT Secured Claim. The pre-petition FT Secured
Claim will be allowed in the amount of $6,341,075.33 ("Pre-Petition
Allowed FT Secured Claim"). The Pre-Petition Allowed FT Secured
Claim shall not be paid by the Debtor unless and until all payments
and transfers provided for in the Plan to the GUC Trust are made
and paid in full. No payments on account of the Allowed FT Secured
Claim will be made to FT until such time as all sums due to the GUC
Trust are paid under the Plan, including under the Debtor Note, the
GUC Trust Monthly Payments, the GUC Trust Upfront Payment and the
settlement or other realization by the GUC Trust of the Litigation
Claims (collectively, the "GUC Trust Payments").

Notwithstanding the forgoing, on or shortly after the Effective
Date, the Reorganized Debtor shall transfer its trademarks to FT on
account of the PrePetition Allowed FT Secured Claim, pursuant to
the Assignment of Trademark Agreement to be filed as a Plan
Supplement.

Class 4 consists of Unsecured 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 and related Security
Agreement, whereby the Debtor has pledged certain of the Litigation
Claims Proceeds to the GUC Trust as security for payment of the
Debtor Note. 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.

The Debtor has analyzed the ability of the Reorganized Debtor and
GUC Trust to meet their obligations under this Plan. Based on the
Debtor's analysis, the Reorganized Debtor and GUC Trust will have
sufficient resources to accomplish its tasks under this Plan.
Therefore, the Debtor believes that this Plan meets the feasibility
requirements of the Bankruptcy Code.

A full-text copy of the Amended Combined Disclosure Statement and
Plan dated June 6, 2025 is available at
https://urlcurt.com/u?l=HkGsKK 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.


ZW DATA: Issues 358K Shares for $1.1M Gross Proceeds
----------------------------------------------------
ZW Data Action Technologies Inc. disclosed in a Form 8-K Report
filed with the U.S. Securities and Exchange Commission that as
detailed in Item 1.01 of the Current Reports on Form 8-K filed by
the Company with the SEC on August 27, 2024, September 9, 2024 and
September 27, 2024, respectively, on June 10, 2025, in accordance
with the securities purchase agreements entered into by the Company
with the investors described therein, the Company issued a total of
358,424 restricted shares of common stock to the investors,
including accredited and non-US persons and entities.

The shares of common stock were sold for $3.0 per share with total
gross proceeds from the transactions amounting to approximately
$1,075,272.

                 About ZW Data Action Technologies

Beijing, China-based ZW Data Action Technologies Inc., established
in 2003, is an ecological enterprise that provides digital services
to sales and marketing channels through blockchain, big data, and
precision marketing. ZW Data Action is committed to empowering SMEs
to achieve more efficient and accurate operations and management,
resulting in additional value for clients.

As of Dec. 31, 2024, the Company had US$9.7 million in total
assets, US$6 million in total liabilities, and a total equity of
US$3.7 million.

Hong Kong, China-based ARK Pro CPA & Co, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated April 15, 2025, attached to the Company's Annual Report on
Form 10-K for the year ended December 31, 2024, citing that the
Company has accumulated deficit of $63.5 million from recurring net
losses and significant net operating cash outflow for the year
ended December 31, 2024. All these factors raise substantial doubt
about its ability to continue as a going concern.


[] BOOK REVIEW: Dynamics of Institutional Change
------------------------------------------------
Dynamics of Institutional Change: The Hospital in Transition

Authors:    Milton Greenblatt, Myron Sharaf, and Evelyn M. Stone
Publisher:  Beard Books
Softcover:  288 pages
List Price: $34.95
Review by Henry Berry

Order your personal copy today at
http://beardbooks.com/beardbooks/dynamics_of_institutional_change.html


Like many other private-sector and public institutions in modern
society, hospitals are regularly undergoing change. The three
authors of this volume have been leaders in change at Boston State
Hospital, a large public mental hospital, that serves as the test
case for the experienced advice and hard-earned lessons found in
this work.

With their academic and professional backgrounds, the three authors
combined offer an incomparable fund of knowledge and experience for
the reader. In keeping with their positions, they focus on the
position and the role of the leaders of institutional change. They
do not recommend any particular choices, direction, or outcome.
They do not presume to know what is the best for all institutions,
or to understand the culture, realities, goals, or values of all
institutions. They do not even presume to know what is best or
desirable for hospitals, the institution with which they are most
familiar. Instead, the authors direct their attention to "the
problems hampering change and the gains and losses of one or
another strategy of change." In relation to this, they are "more
concerned with the study of process than with outcome." By not
recommending specific policies or arguing for specific values or
goals, the authors make their book relevant to all institutions
involved in change, but particularly public-health institutions.

All of the subjects are dealt with from the perspective of top
executives and administrators. Among the subjects taken up are not
only the staff and structure of the institution, specifically the
medical institution, but also consultants, volunteers, local
communities, and state and federal government agencies. The detail
given to each subject goes beyond the administrator's relationship
to it to discussion concerning the relationship of lower-level
employees with the subject. This relationship of lower-level
employees has everything to do with how change occurs within the
institution, and often whether it occurs. The authors go into such
detail because they understand that the performance and goals of
top administrators are affected by everything that goes on within
heir institution, and often by much that goes on outside of it.

For example, the authors begin the subject of volunteers by
defining three types of volunteers: volunteers from organizations,
student or independent volunteers, and government-appointed or
statutory volunteers. Volunteers of whatever type can cause
anxiety, resistance, and even resentment among regular staff of an
institution. Volunteers are not simply "free help," but require
administration, training, and oversight -- which can distract
regular employees from work they consider more important and
interesting, and use up departments' resources. The transitional
nature of volunteers, their ignorance of institutional and
occupational concerns of the regular staff, and their lack of
professionalism can cause disruptions and personnel problems in
parts of an institution. The authors advise the top administrators,
"The intrusive evangelism of student volunteers can be threatening
not only to professional supervisors, but to the entire hospital
staff as well, from the attendant to the top administrator." While
recognizing the problems which may be caused by volunteers,
especially younger ones, the authors point out the worth of
volunteers to the hospital despite the potential problems they
bring. Overall, the different types of volunteers "improve the
physical and social environment" of the workplace, "make direct and
beneficial contacts with chronic patients," and often "establish
true innovations." After discussing the pros and cons of volunteers
and providing detailed guidance on how to manage volunteers so as
to minimize potential problems, the authors advise the
administrator and his or  her staff how to regard volunteers. "Both
staff and administrator must constantly keep in mind that
volunteers are not personally helping them [word in italics in
original], but are helping the patients or the community." Along
with the technical management and administrative guidance, such
counsel is clearly relevant and important in keeping perspective on
the matter of volunteers.

The treatment of volunteers in a medical institution exemplifies
the comprehensive, empathetic, and experienced treatment of all the
subjects. Personnel -- whether professional, clerical, service, or
volunteer -- is obviously a major concern of any institution and
change in it. The structure of an institution is another crucial
concern. This is addressed under the heading "decentralization
through unitization." In the context of a large public medical
facility, decentralization "involves breaking up the institution
into semiautonomous units . . . ; each of which is like a small
community health center in that it is responsible for serving a
specific part of the community." As with the subject of volunteers,
the authors treat this subject of the structure of the institution
by examining its various sides, discussing related personnel and
administrative matters, relating instructive anecdotes from their
own experience, and in the end, offering relevant and practical
advice and actions whose sense is apparent to the reader by this
point.

Recognizing that the authors have faced many of the same
situations, decisions, pressures, challenges, and aims as they
have, top hospital and public-health administrators will no doubt
adopt many of the authors' recommendations for managing the process
of change. The content of the book as well as its style (which is
obviously meant to be helpful, sympathetic, and realistic) offers
the reader not only resolutions, but also encouragement. The top
hospital administrators and their staff, who are the main audience
for "Dynamics of Institutional Change," will not find a better
study and handbook to help them through the changes their
institutions are being called upon to undergo to deal with the
health concerns and problems of today's society.

Milton Greenblatt, M.D. was Commissioner of the Massachusetts
Department of Mental Health, Professor of Psychiatry at Tufts
University School of Medicine, and Lecturer in Psychiatry at
Harvard Medical School and Boston University School of Medicine.

Myron R. Sharaf, Ph. D. was Associate Area Director of Boston State
Hospital and Assistant Professor of Psychology at Tufts University
School of Medicine.

Evelyn M. Stone served as Executive Editor for the Massachusetts
Department of Mental Health.



                            *********

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for bond issues that reportedly trade well below par.  Prices are
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