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250624.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, June 24, 2025, Vol. 29, No. 174 Headlines 1 SANDPIPER: Court OKs Interim Use of Cash Collateral 1600 WESTERN: Files Emergency Bid to Use Cash Collateral 25350 PLEASANT: Rental Income & $514K New Value to Fund Plan 303 HIGHLINE: Unsecureds Will Get Not Less Than 2% of Claims 760203 NB: Cliffwater Corporate Marks $6.2MM 1L Loan at 32% Off A.E. SCHLUETER: Court Extends Cash Collateral Access to Aug. 14 A.T & M.D TRUCKING: Hires Auction Ohio as Appraiser A1 GARAGE: Cliffwater Corporate Marks $4.1MM Loan at 23% Off ACCELERATE DIAGNOSTICS: Indaba Starling Is Lead Bidder ACCELERATE DIAGNOSTICS: Proofs of Claim Due July 9, 2025 ADVENT AIR: Final Hearing to Use Cash Collateral Set for June 26 ADVENTURES IN LEARNING: Seeks to Hire Alan Atkins as Appraiser ALEXA HOLDINGS: Gets Extension to Access Cash Collateral ALIEN TECHNOLOGIES: Voluntary Chapter 11 Case Summary AMPLIFYBIO LLC: Seeks to Hire Ordinary Course Professionals AMPLIFYBIO LLC: Taps Hilco Commercial Industrial as Broker ARCOUB INC: Seeks to Hire Peter Spindel Esq. P.A. as Attorney ASCEND PERFORMANCE: Committee Hires Ducera as Investment Banker ASCEND PERFORMANCE: Committee Taps Brown Rudnick LLP as Co-Counsel ASCEND PERFORMANCE: Committee Taps Parkins & Rubio as Co-Counsel ASHER HOMES: Hires Horizon CPAs and Advisors PLC as Accountant ASPEN ELECTRONICS: Hires Allen Vellone Wolf as Expert AT HOME GROUP: Moody's Lowers PDR to D-PD Amid Ch. 11 Filing AUVECO HOLDINGS: Cliffwater Corporate Marks $1.3MM Loan at 79% Off AWI GROUP: Cliffwater Corporate Marks $2.7MM Loan at 70% Off AWS HOSPITALITY: Seeks Subchapter V Bankruptcy in Illinois AZUL SA: Section 341(a) Meeting of Creditors on July 30 BALCAN INNOVATIONS: Moody's Alters Outlook on 'B2' CFR to Negative BECKHAM JEWELRY: Hires Bobby Wilkerson Inc. as Sale Consultant BEDMAR LLC: DLA Piper Files Rule 2019 Statement BELLISSI FURNITURE: Court Extends Cash Collateral Access to Aug. 31 BENNY AND MARY'S: Gets Interim OK to Use Cash Collateral BG SHOP: Hires Neeleman Law Group P.C. as Legal Counsel BIRD GLOBAL: Court Won't Modify Consummated Chapter 11 Plan BISHOP OF SAN DIEGO: Aylstock Witkin Advises Abuse Claimants BISHOP OF SANTA ROSA: Hires Newcastle as Real Estate Broker BPI INTERMEDIATE: Cliffwater Corporate Marks $1.4MM Loan at 84% Off BURGESS BIOPOWER: Seeks to Extend Plan Exclusivity to August 11 CANNABITION LLC: Taps Mushkin & Coppedge as Litigation Counsel CAP-KSI HOLDINGS: Cliffwater Corporate Marks $1.8MM Loan at 62% Off CHARTER SCHOOL: Seeks to Hire Epiq as Claims and Noticing Agent CHEMPETITIVE GROUP: Cliffwater Marks $1.5MM Loan at 90% Off CHEMPETITIVE GROUP: Cliffwater Marks $446,000 Loan at 92% Off CIRCAUTO BIDCO: Cliffwater Corporate Virtually Writes Off $78M Loan CIRCAUTO BIDCO: Cliffwater Virtually Writes Off $243MM Loan COCO SUSHI: Updates Unsecured Claims Pay; Files Amended Plan COLLISION SP: Cliffwater Corporate Marks $1.9MM Loan at 23% Off COLLISION SP: Cliffwater Corporate Marks $1MM Loan at 85% Off CONN'S INC: Unsecured Creditors Will Get 1% of Claims in Plan CONSOLIDATED BURGER: Taps Merlin Law as Special Litigation Counsel CYPRESSWOOD SPRING: Court Extends Cash Collateral Access to July 7 D AND B PHARMACY: Hires Penachio Malara LLP as Counsel DB ASSETS: Seeks to Hire Kelley Law PLLC as Counsel DOCUDATA SOLUTIONS: Seeks to Extend Plan Exclusivity to Sept. 29 DYNASTY TANG: Seeks Subchapter V Bankruptcy in California EASTERN COLORADO: Plan Exclusivity Period Extended to August 13 EAZY-PZ LLC: Seeks Chapter 11 Bankruptcy in Colorado ELITA 7 LLC: Court Extends Cash Collateral Access to Sept. 18 EVERBRIDGE HOLDINGS: Cliffwater Marks $5.5MM Loan at 61% Off F & B NEGOTIATIONS: Court Rules on Florida Property Sale Issue FIBRE-TECH INC: Court Extends Cash Collateral Access to July 24 FINGERPAINT MARKETING: Cliffwater Marks $1.5MM Loan at 45% Off FINGERPAINT MARKETING: Cliffwater Virtually Writes Off $2MM Loan FLY7 INSTALLATIONS: Unsecureds to Get 12 Cents on Dollar in Plan FRANCIS FUNERAL: Seeks Subchapter V Bankruptcy in Pennsylvania FULLER INVESTMENT: Hires Moon Wright & Houston as Counsel GIULIANI CATTLE: Hires Robert C. Newark III as Counsel GLOBAL BANK: Moody's Alters Outlook on Ba1 Deposit Rating to Stable GLOBAL MUSIC: Cliffwater Corporate Virtually Writes Off $10.7M Loan GREENWICH RETAIL: Gets Interim OK to Use Cash Collateral HIGHER GROUND: Deadline for Panel Questionnaires Set for June 25 HIGHER GROUND: Seeks Chapter 11 Bankruptcy in Texas HJJM LLC: Case Summary & One Unsecured Creditor HOPEMAN BROTHERS: Landry & Swarr Files Rule 2019 Statement INDIVIDUALIZED ABA: Court OKs Bid to Use Newtek's Cash Collateral INVERSIONES ALFA: Seeks 120-Day Extension of Plan Filing Deadline IQSTEL INC: Converts $1.2M of Notes Into Common Stock IQSTEL INC: Reports $77.8M Prelim Revenue for January to April J.C.C.M. PROPERTIES: Hires Ward and Smith as Special Counsel JACK OHIO: Moody's Lowers CFR to 'B3' & Alters Outlook to Stable JEFRYN PARK: Seeks Chapter 11 Bankruptcy in New York KTRV LLC: Deadline to File Claims Set for July 9, 2025 KULA GRAIN: Committee Taps Kutner Brinen Dickey Riley as Attorney LEISURE INVESTMENTS: Committee Taps Force Ten as Financial Advisor LEISURE INVESTMENTS: Committee Taps Manganelli Leider as Co-Counsel LEISURE INVESTMENTS: Committee Taps Raines Feldman as Counsel LEVY VENTURES: Lender Seeks to Prohibit Cash Collateral Access MAGENS POINT: Seeks Chapter 11 Bankruptcy in Virgin Islands MARCO'S PIZZA: Seeks to Hire Vincent DiMaggio CPA as Accountant MAXIMUS SUPPLY: Court OKs Continued Access to Cash Collateral MBS HOLDINGS: Cliffwater Corporate Marks $1.2MM Loan at 88% Off MC GROUP: Cliffwater Corporate Marks $9.3 Million Loan at 18% Off MIDTOWN VENTURE: Voluntary Chapter 11 Case Summary NOBLE LIFE: Case Summary & 20 Largest Unsecured Creditors OMNI FIBER: Cliffwater Corporate Marks $30MM Loan at 51% Off ONECARE MEDIA: Cliffwater Corporate Marks $8.4MM 1L Loan at 60% Off ORION MENTAL: Seeks to Extend Plan Filing Deadline to August 25 PAP-R PRODUCTS: Seeks to Extend Plan Exclusivity to October 1 PEPPERMILL LIMITED: Creditors to Get Proceeds From Liquidation PERMACONN TOPCO: Cliffwater Corporate Marks $2.8MM Loan at 38% Off PIKE CORP: Moody's Alters Outlook on 'B2' CFR to Positive PINEY POINT: Amends JLL Real Claims Pay Details POWIN ENERGY: Case Summary & 50 Largest Unsecured Creditors POWIN LLC: Files for Chapter 11 to Restructure Liabilities PREDICTIVE ONCOLOGY: Faces Nasdaq Delisting Over Equity Deficiency QUALITY FIRST: Hires Sternberg Naccari & White as Attorney RADIOLOGY PARTNERS: S&P Rates Proposed $1.5BB Term Loan 'B-' RCM MANUFACTURING: Seeks Cash Collateral Access REAVIS REHAB: Unsecured Creditors Will Get 31.4% of Claims in Plan REBELLION POINT: Gets Extension to Access Cash Collateral RECORDED BOOK: Cliffwater Corporate Marks $1.4MM Loan at 36% Off RECORDED BOOK: Cliffwater Corporate Marks $362,000 Loan at 36% Off RELIABLE SECURITY: Case Summary & Eight Unsecured Creditors ROCKRIDGE2016 LLC: Gets Interim OK to Use Cash Collateral S&G HOSPITALITY: Seeks Cash Collateral Access Until Sept. 30 S&S FOODS: Hires Law Offices of John F. Sommerstein as Counsel SALEM POINTE: Seeks to Extend Plan Exclusivity to September 30 SAY YES REALTY: Hires Russo White & Keller P.C. as Counsel SHINECO INC: CEO, CFO Launch $2M Stock Purchase Program SINTECMEDIA NYC: Cliffwater Corporate Marks $2.1MM Loan at 41% Off SOLUNA HOLDINGS: Gets $20M From Spring Lane for Project Kati Launch SOUTHWEST FT WORTH: Court Extends Cash Collateral Access to July 7 SWEET TRUCKING: Hearing to Use Cash Collateral Set for June 25 SYSOREX GOVERNMENT: Gets Final OK to Use Cash Collateral TELLICO RENTALS: Case Summary & Three Unsecured Creditors TERRA DOLCI: Seeks to Hire Agentis PLLC as Counsel TONIX PHARMACEUTICALS: Inks $150M ATM Sales Agreement with A.G.P. TONIX PHARMACEUTICALS: Signs $75M Equity Deal With Lincoln Park TRANSMEDCARE LLC: Gets OK to Use Cash Collateral Until July 23 TROPIC LEISURE: Case Summary & 10 Unsecured Creditors TRUNK ACQUISITION: Cliffwater Corporate Marks $4.5M Loan at 73% Off USRP HOLDINGS: Cliffwater Corporate Marks $43.9MM Loan at 60% Off VALCOURT HOLDINGS: Cliffwater Corporate Marks $13M Loan at 24% Off VALICOR PPC: Cliffwater Corporate Marks $653,000 Loan at 32% Off VASTAV INC: Gets Final OK to Use Cash Collateral VCR COMPANIES: Cliffwater Corporate Marks $5MM Loan at 19% Off VELUXE LLC: Gets Extension to Access Cash Collateral VENSURE EMPLOYER: Cliffwater Corporate Marks $37.3M Loan at 76% Off VENTURE GLOBAL: Moody's Ups Rating on Senior Secured Notes to Ba1 VENUS CONCEPT: EW Healthcare Partners, 3 Others Hold 21.6% Stake VENUS CONCEPT: Madryn Asset and Affiliates Hold 8.6% Stake VENUS CONCEPT: Orca Capital Holds 4.9% Stake as of June 6 VERITAS FARMS: Board Chair Thomas Vickers Named Interim CEO VIEWBIX INC: Eliyahu Yoresh Replaces Yoram Baumann as Board Chair VIRGINIA BEACH: Unsecureds Will Get 26% of Claims over 5 Years VISIONARY BUYER: Cliffwater Corporate Marks $28MM Loan at 73% Off W20 HOLDINGS: Cliffwater Corporate Marks $425,000 Loan at 71% Off WATER GREMLIN: Disclosures & Plan Hearing Set for July 29 WATER GREMLIN: Unsecureds Will Get 55% to 75% of Claims in Plan WATERLOO POWER: Hires Campos Tax & Accounting as Accountant WATERLOO POWER: Hires Lane Law Firm PLLC as Counsel WESTERN DIGITAL: Moody's Cuts CFR to 'Ba2', Outlook Stable WHITE FOREST: Seeks to Extend Plan Exclusivity to Sept. 5 WOOD DESIGN: Amends IRS Claims Pay Details WOOLPERT HOLDINGS: Cliffwater Corporate Marks $1MM Loan at 82% Off WOOLPERT HOLDINGS: Cliffwater Corporate Marks $2.1M Loan at 86% Off WOOLPERT INC: Cliffwater Corporate Marks $2.9MM Loan at 85% Off WRE HOLDING: Cliffwater Corporate Marks $14.9MM Loan at 68% Off X-LASER LLC: Seeks to Hire Weiss Law Group as Bankruptcy Counsel YA INTERMEDIATE: Cliffwater Corporate Marks $2MM Loan at 91% Off YA INTERMEDIATE: Cliffwater Corporate Marks $4.2MM Loan at 90% Off YLG HOLDINGS: Cliffwater Corporate Marks $35.7MM Loan at 52% Off YLG HOLDINGS: Cliffwater Corporate Marks $4.2MM Loan at 52% Off ZAMA&ZAMA INC: Seeks Chapter 11 Bankruptcy in Nevada ZINC BUYER: Cliffwater Corporate Marks $8.1MM Loan at 58% Off [] York Beach Hotel Complex Sent to Foreclosure ********* 1 SANDPIPER: Court OKs Interim Use of Cash Collateral ----------------------------------------------------- 1 Sandpiper, LLC got the green light from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral to pay business expenses as set forth in its budget, with a 10% variance allowed. The budget projects total operational expenses of $60,397.92 for the period from June 16 to July 15. Murphy Wall State Bank, CT Corporation System, Pinnacle Business Funding LLC (doing business as Custom Capital USA) and the U.S. Small Business Administration are the creditors that may have interests in the cash collateral. As adequate protection, a post-petition lien on the Debtor's cash and inventory will be granted to the secured creditors. In addition, the Debtor was ordered to make monthly payments of $29,828.01 to Murphy Wall State Bank and $731 to SBA as further protection. The next hearing is scheduled for July 10. As of the petition date, the Debtor held approximately $66,019 in cash and $76,013 in unencumbered assets. Pinnacle is represented by: Charles N. Anderson, Jr., Esq. Ellis & Winters, LLP P.O. Box 33550 Raleigh, NC 27636 Telephone: (919) 865-7000 Facsimile: (919) 865-7010 chuck.anderson@elliswinters.com About 1 Sandpiper LLC 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. 1600 WESTERN: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------- 1600 Western Venture LLC asks the U.S. Bankruptcy Court for the Northern District of Illinois for authority to use alleged cash collateral belonging to Wells Fargo Bank, N.A. Wells Fargo claims a $9 million secured interest, which the Debtor disputes, asserting that the underlying mortgage and related documents are invalid due to alleged forgery and improper execution. Specifically, the Debtor argues that the signatures on the mortgage and the assignment of leases and rents were affixed to different documents on March 28, 2019, and later improperly attached to documents dated April 4, 2019, thus invalidating the lien. The Debtor contends that because the alleged mortgage is void, there is no valid cash collateral under Wells Fargo’s claim. Nevertheless, in the event the court finds valid cash collateral exists, the Debtor seeks authority to use it for necessary business expenses, including payroll and operational costs, to avoid immediate harm and potential liquidation. The Debtor has an urgent need to pay its employees on June 13, 2025, with an estimated gross payroll of $12,139. The Debtor also asserts that the value of its real estate exceeds $19.4 million, which it believes provides sufficient protection to the lender if cash collateral is used. To ensure the Lender's interest is protected, the Debtor proposes granting replacement liens, subject to the final determination of the lien's validity. In conclusion, the Debtor asks the court to declare that no valid cash collateral exists or, in the alternative, authorize its use retroactively and prospectively as needed, and to allow a lien on proceeds subject to further proceedings regarding the validity of Wells Fargo’s claim. A copy of the motion is available at https://urlcurt.com/u?l=qkl05f from PacerMonitor.com. About 1600 Western Venture LLC 1600 Western Venture LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08821) on June 10, 2025. In the petition signed by Dorothy Flisk, managing member, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Jacqueline P. Cox oversees the case. Penelope Bach, Esq., at Bach Law Offices, represents the Debtor as legal counsel. 25350 PLEASANT: Rental Income & $514K New Value to Fund Plan ------------------------------------------------------------ 25350 Pleasant Valley Drive LLC submitted a Second Amended Disclosure Statement describing Amended Plan of Reorganization dated June 6, 2025. The Plan is a plan of reorganization, meaning that the Debtor will continue to operate its business and affairs, as a "Reorganized Debtor," following confirmation of the Plan. The Plan provides for full payment of the claims of the Debtor's administrative, secured and priority claims and for a distribution to unsecured creditors. The Plan provides for no distribution or payment to the holders of equity interests in the Debtor. However, equity will be issued in the Reorganized Debtor to E. Bayramov, B. Bayramov, Rovshan Hamidov, and Anthony Halabi, on account of significant new value equity contributions to be made under the Plan, which new value is necessary to the payments called for under the Plan. The Plan states whether each class of claims or equity interests is impaired or unimpaired. If the Plan is confirmed, your recovery will be limited as set forth in the Plan. Pursuant to the terms of the Plan and the forbearance agreements with NWFCU and MainStreet, the Debtor shall have 36 to 48 months to refinance the debts to those creditors. During such time, the Debtor will make payments in accord with the agreements with NWFCU and MainStreet. Like in the prior iteration of the Plan, the Class 4 Unsecured Claim consists of unpaid condominium fees and costs, as of the date of the Conversion Order, and shall be paid the amounts indicated in the Projections. Based upon the Projections, it is anticipated that the full amount of fees and costs incurred pre-petition, and during the course of the Debtor's bankruptcy proceeding will be paid. It is estimated that the total amount of Epic's Class 4 Claim will be approximately $49,7878.62. The Class 4 Claim is impaired. The Class 5 Unsecured Claim of the SBA consists of the unpaid balance of an EIDL Loan to the Debtor and shall be paid $300 per month from the proceeds of the Debtor's operations, for a total of $15,600. The Class 5 Claim is impaired. The Class 6 Unsecured Claims shall be paid on a pro-rata basis the amounts indicated in the Projections. Based upon the Projections, it is anticipated that the Class 6 Claimants will be paid $120,000 over the term of the Plan. The Class 6 Unsecured Claims are impaired under the Plan. Class 7 consists of Equity Interest Holders. E. Bayramov and B. Bayramov, the members of the Debtor, will be paid nothing on account of their interests in the Debtor. In exchange for the new value contributions (totaling $514,000 over the Plan term), E. Bayramov, B. Bayramov, Roshan Hamidov and Anthony Halabi will receive an equity interest in the Reorganized Debtor. The Class 7 Equity Interest holders are impaired under the Plan. Payments and distributions under the Plan will be funded by rents received from the Debtor's tenants of the Debtor's real property. In addition, in exchange for equity interests in the Reorganized Debtor, E. Bayramov will contribute new value of $267,000, and the principals of ADM, Hamidov and Halabi will contribute new value of $247,000. Prior to confirmation of the Debtor's Plan, E. Bayramov, Hamidov and Halabi will have deposited into escrow a total of $130,000 (or 25%) of the new value contribution called for under the Plan. The Debtor's Plan depends in part on the financial operations and success of a nondebtor, namely ADM, in its capacities as both a lessee of one of the Units and as an equity contributor (through its principals). E. Bayramov has committed to provide new value in the total amount of $267,000, in addition to the $247,000 new value to be contributed by ADM, in exchange for the equity in the reorganized Debtor. A full-text copy of the Second Amended Disclosure Statement dated June 6, 2025 is available at https://urlcurt.com/u?l=JVeFHc from PacerMonitor.com at no charge. 25350 Pleasant Valley Drive LLC is represented by: John P. Forest, II, Esq. 11350 Random Hills Rd., Suite 700 Fairfax, VA 22030 Telephone: (703) 691-4940 Email: john@forestlawfirm.com About 25350 Pleasant Valley Drive LLC 25350 Pleasant Valley Drive LLC, filed a Chapter 11 bankruptcy petition (Bankr. E.D. Va. Case No. 23-11983) on Dec. 6, 2023, listing $500,001 to $1 million in both assets and liabilities. Judge Klinette H. Kindred presides over the case. The Debtor tapped John P. Forest, II, Esq. as counsel. 303 HIGHLINE: Unsecureds Will Get Not Less Than 2% of Claims ------------------------------------------------------------ 303 Highline Corp., d/b/a Hudson Market, filed with the U.S. Bankruptcy Court for the Southern District of New York a Disclosure Statement in connection with Plan of Reorganization dated June 6, 2025. The Debtor is a New York business corporation formed in 2019 which is engaged in the operation of a grocery market/deli located at 303 Tenth Avenue, New York 10001 (the "Premises"). Briefly, the Plan provides for a reorganization of the Debtor's financial obligations and affairs. Under the Plan: * Any Statutory Fees owed by the Debtor as of the effective date, together with any applicable interest thereon, will be fully paid on the effective date, and any Statutory Fees, together with any applicable interest thereon, that may become due after the effective date shall be paid as they become due by the Reorganized Debtor until the entry of a final decree closing the Chapter 11 Case, or until the Chapter 11 Case is converted or dismissed, whichever occurs earlier; * Allowed Administrative Claims will be fully paid either on the effective date or upon such terms as may be agreed upon between the Debtor and any holders of such Claims; * Allowed Priority Tax Claims will be fully paid either on the effective date or in equal and consecutive monthly installment payments in cash equal to the Allowed amounts of such claims, with interest thereon, over a period ending not later than 5 years after the petition date absent the consent of the holders of respective claims, commencing on the effective date; * The Allowed Secured Claim of Metro City Bank in Class 1 will be fully paid either on the effective date or upon such terms as may be agreed upon between the Debtor and Metro City; * Each holder of an Allowed General Unsecured Claim in Class 2 will receive a first and final pro rata distribution of cash in an amount equal to not less than 2% of the allowed amount of its claim on the effective date in full satisfaction of such claim; and * Hyeon "Jeff" Jin Kim, the holder of the interests in the Debtor in Class 3, will retain said interests. Class 2 consists of Allowed General Unsecured Claims against the Debtor which consist of all Claims against the Debtor other than Statutory Fees, Administrative Claims, Priority Tax Claims or Secured Claims, and shall include any General Unsecured Claim held by Metro City in the amount determined by the Bankruptcy Court pursuant to the Metro City Claim Order. Under the Plan, subject to the provisions of the Plan with respect to Disputed Claims, the Debtor will make a first and final pro rata distribution of cash to each holder of an Allowed Class 2 General Unsecured Claim in an amount equal to not less than 2% of its Allowed Claim, on the effective date in full satisfaction of such claim. The allowed unsecured claims total $2,234,402.47. Class 2 General Unsecured Claims are impaired under the Plan. The Distributions that are to be made on the effective date under this Plan shall be funded from the Debtor's cash on hand as of the effective date and the Plan Cash Contribution. A full-text copy of the Disclosure Statement dated June 6, 2025 is available at https://urlcurt.com/u?l=5lZ651 from PacerMonitor.com at no charge. Counsel to the Debtor: Douglas J. Pick, Esq. Pick & Zabicki LLP 369 Lexington Avenue, 12th Floor New York, NY 10017 Telephone: (212) 695-6000 Email: dpick@picklaw.net About 303 Highline 303 Highline Corp., doing business as Hudson Market, owns a grocery store in New York. 303 Highline sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-11409) on August 15, 2024, with $207,164 in assets and $2,161,207 in liabilities. Hyeon Jin Kim, president, signed the petition. Douglas Pick, Esq., at Pick & Zabicki, LLP represents the Debtor as legal counsel. 760203 NB: Cliffwater Corporate Marks $6.2MM 1L Loan at 32% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $6,277,205 loan extended to 760203 N.B. Ltd. to market at $4,238,773 or 68% 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 760203 N.B. Ltd. The loan accrues interest at a rate of 8.22% per annum. The loan matures on December 31, 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 760203 N.B. Ltd. 760203 N.B. Ltd. is a manufacturer of hockey equipment and related accessories. A.E. SCHLUETER: Court Extends Cash Collateral Access to Aug. 14 --------------------------------------------------------------- A.E. Schlueter Pipe Organ Sales and Service, Inc. received second interim approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral. The order penned by Judge Paul Baisier authorized the Debtor's interim use of cash collateral until Aug. 14 to pay its operating expenses as set forth in its budget, with a 15% variance allowed. The Debtor identifies two creditors that may assert liens on its assets: Touchmark National Bank, based on a UCC filing from 2015 and subsequent amendments, and the U.S. Small Business Administration, based on a 2020 UCC filing. As protection for any diminution in value of cash collateral utilized by the Debtor, both creditors will be granted replacement liens on all assets acquired or generated by the Debtor after the petition date, which are similar to their pre-bankruptcy collateral. These replacement liens will have the same validity and priority as the secured creditors' pre-bankruptcy liens. The next hearing is scheduled for Aug. 14. Touchmark National Bank, as secured creditor, is represented by: Robert Jackson Wilson, Esq. Robert Jackson Wilson, PC 295 S. Culver Street, Suite C Lawrenceville, GA 30046 Telephone: (770) 962-9780 jwilson@rjwpclaw.com 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. Thomas T. McClendon, Esq., at Jones & Walden LLC, represents the Debtor as legal counsel. A.T & M.D TRUCKING: Hires Auction Ohio as Appraiser --------------------------------------------------- A.T & M.D Trucking LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Ohio to employ Auction Ohio as appraiser. The firm will appraise the Debtor's Vehicles so that the Debtor will have a more accurate determination of their value. The firm will be paid a flat fee of $500. Mr. Davis 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: Chris Davis Auction Ohio 7461 Worthington Galena Rd. Worthington, OH 43085 Tel: (614) 846-3300 About A.T & M.D Trucking LLC A.T & M.D Trucking, LLC is a trucking contractor based in Columbus, Ohio. It provides freight transportation services and is registered with the U.S. Department of Transportation. A.T & M.D Trucking sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-52131) on May 16, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Judge John E. Hoffman Jr. handles the case. The Debtor is represented by John W. Kennedy, Esq., at Strip, Hoppers, Leithart, McGrath & Terlecky Co., LPA. A1 GARAGE: Cliffwater Corporate Marks $4.1MM Loan at 23% Off ------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,109,157 loan extended to A1 Garage Equity, LLC to market at $3,182,104 or 77% 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 A1 Garage Equity, LLC. The loan accrues interest at a rate of 9.07% per annum. The loan matures on December 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 A1 Garage Equity, LLC A1 Garage Equity, LLC is a company that specializes in the residential garage door repair and replacement services. ACCELERATE DIAGNOSTICS: Indaba Starling Is Lead Bidder ------------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware approved bidding procedures for the sale of substantially all of the assets of Accelerate Diagnostics Inc. and its debtor-affiliates, free and clear of liens, claims, encumbrances and other interests. The deadline to submit offers for the Debtors' assets is June 23, 2025 at 4:00 p.m. (ET). The auction, if required, will be conducted on June 26, 2025, at 9:00 a.m. (ET), either (i) at the offices of Fried, Frank, Harris, Shriver & Jacobson LLP, One New York Plaza, New York, NY 10004, or (ii) at such other date, time or location as designated by the Debtors. Consummation of any sale pursuant to a successful bid will be subject to Court approval. The sale hearing will be held before the Court on July 15, 2025, at 1:30p.m. (ET). Each qualified bid must be accompanied by a good faith deposit in the form of cash in an amount equal to 10% of the proposed purchase price for the assets; provided, that no Good Faith Deposit shall be required for any qualified bid from the Stalking Horse Bidder. According to the Debtors, the Bidding Procedures and the Stalking Horse APA were negotiated at arm's length and in good faith by the Debtors and the Stalking Horse Bidder. The Bidding Procedures are fair, appropriate, and reasonably designed to promote active bidding at and participation in the Auction to ensure that the highest or otherwise best value is generated for the Assets. The Debtors and their advisors engaged in a robust and extensive marketing and sale process prior to the commencement of these Chapter 11 Cases. The Bidding Procedures are designed to continue that robust and extensive marketing and sale process following entry of this Order in order to solicit the highest or otherwise best value for the Assets. The Bidding Procedures represent the best method for maximizing the realizable value of the Assets for the benefit of the Debtors' estates. On May 30, 2025, the Debtors entered into an asset purchase agreement with Indaba Starling, LLC, whereby Indaba will serve as the stalking horse bidder for the Debtor's assets. In the event that the purchase of the assets is ultimately consummated by another party, the Debtors will reimburse Indaba for its actual, reasonable and documented expenses up to a maximum amount of $750,000. Copies of the Bidding Procedures Order or other documents related thereto are available at https://cases.stretto.com/AccelerateDiagnostics. Parties with questions can contact the Debtors' claims agent, Stretto, Inc., by calling (866) 365-1526 (U.S. and Canada toll free) or (949) 247-7489 (International) or emailing TeamAccelerate@stretto.com. Indaba Starling can be reached at: Indaba Starling, LLC c/o Indaba Capital Management, L.P. One Letterman Drive Building D, Suite 700 San Francisco, CA 94129 Attn: Zac Rosenberg, General Counsel & Chief Compliance Officer Email: zrosenberg@indabacapital.com with a copy (which shall not constitute effective notice) to: Clifford Chance US LLP Attn: David M. Feldman Matthew Hinker Bryan J. Luch Two Manhattan West, 375 9th Ave New York, NY 10001 Email: David.Feldman@CliffordChance.com Matthew.Hinker@cliffordchance.com Bryan.Luchs@CliffordChance.com About Accelerate Diagnostics Accelerate Diagnostics, Inc., is an in vitro diagnostics company that develops systems for the rapid identification of pathogens and antibiotic susceptibility, with a focus on serious infections such as sepsis. Its products, including the Accelerate Pheno and Arc systems, are used in hospitals and clinical laboratories to improve treatment precision and reduce healthcare costs. The Company has submitted its WAVE system for FDA clearance, with a commercial launch expected in early 2026. Accelerate Diagnostics Inc. and Accelerate Diagnostics Texas, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10837) on May 8, 2025. In the petition signed by Jack Phillips as president and chief executive officer, the Debtors disclosed total assets of $28,556,000 and total debts of $84,596,000 as of December 31, 2024. The Hon. Karen B. Owens oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP and Fried, Frank, Harris, Shriver & Jacobson LLP as bankruptcy counsels. Solic Capital Advisors LLC serves as restructuring advisor to the Debtors; Perella Weinberg Partners LP acts as investment banker; and Stretto Inc. serves as claims and noticing agent. ACCELERATE DIAGNOSTICS: Proofs of Claim Due July 9, 2025 -------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware set July 9, 2025, at 5:00 p.m. (Prevailing Eastern Time) as the last date and time for person or entities to file proofs of claim against Accelerate Diagnostics Inc. and its debtor-affiliates. The Court also set Nov. 4, 2025, as the deadline for all governmental units to file their claims against the Debtors. A proof of claim may be filed in paper form. An original, signed copy of the proof of claim must be sent so as to be actually received on or before the applicable Bar Date as follows: If by First-Class Mail, Hand Delivery or Overnight Mail: Accelerate Diagnostics, Inc., et al. Claims Processing c/o Stretto 410 Exchange, Suite 100 Irvine, CA 92602 A proof of claim may be filed electronically at https://cases.stretto.com/AccelerateDiagnostics using the interface available after clicking the link entitled "File a Claim". A claim must be submitted so as to be actually received on or before the applicable Bar Date. Proofs of claim sent by other means, including by means of email or fax, will not be accepted. About Accelerate Diagnostics Accelerate Diagnostics, Inc., is an in vitro diagnostics company that develops systems for the rapid identification of pathogens and antibiotic susceptibility, with a focus on serious infections such as sepsis. Its products, including the Accelerate Pheno and Arc systems, are used in hospitals and clinical laboratories to improve treatment precision and reduce healthcare costs. The Company has submitted its WAVE system for FDA clearance, with a commercial launch expected in early 2026. Accelerate Diagnostics Inc. and Accelerate Diagnostics Texas, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10837) on May 8, 2025. In the petition signed by Jack Phillips as president and chief executive officer, the Debtors disclosed total assets of $28,556,000 and total debts of $84,596,000 as of December 31, 2024. The Hon. Karen B. Owens oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP and Fried, Frank, Harris, Shriver & Jacobson LLP as bankruptcy counsels. Solic Capital Advisors LLC serves as restructuring advisor to the Debtors; Perella Weinberg Partners LP acts as investment banker; and Stretto Inc. serves as claims and noticing agent. ADVENT AIR: Final Hearing to Use Cash Collateral Set for June 26 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, is set to hold a final hearing on June 26 to consider Advent Air Conditioning, Inc.'s bid to use cash collateral. The Debtor's authority to utilize cash collateral pursuant to the court's June 13 second interim order expires on June 26. The second interim order approved the payment of the Debtor's expenses from the cash collateral in accordance with the budget it filed with the court. The order granted BlueVine Capital and other merchant cash advance (MCA) creditors that may assert claims to cash collateral a replacement lien on the Debtor's post-petition accounts, cash, accounts receivable and their proceeds. About Advent Air Conditioning Inc. Advent Air Conditioning Inc. is a family-owned HVAC services company based in Lewisville, Texas, serving the greater Dallas Fort Worth area. Established in 1981, the company specializes in AC repair, heating repair, and HVAC system replacements, offering energy-efficient and indoor air quality solutions. Advent Air Conditioning sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-41696) on May 9, 2025. In its petition, the Debtor reported total assets of $142,986 and total liabilities of $1,333,818. Judge Mark X. Mullin handles the case. The Debtor is represented by Clayton L. Everett, Esq., at Norred Law, PLLC. ADVENTURES IN LEARNING: Seeks to Hire Alan Atkins as Appraiser -------------------------------------------------------------- Adventures In Learning Daycare Bayonne, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Alan Atkins Appraisal Corp. as appraiser. The firm will appraise all assets of a daycare business owned by the Debtor and provide a detailed report of specific assets and value. Alan Atkins will be paid a flat fee of $2,500. Alan Atkins disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Alan Atkins Alan Atkins Appraisal Corp. 122 Clinton Road, Suite 2A Fairfield, NJ 07004 Telephone: (973) 227-1900 Facsimile: (973) 227-5502 About Adventures In Learning Daycare Adventures In Learning Daycare Bayonne, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-12790) on March 18, 2025, listing up to $50,000 in assets and between $100,000 and $500,000 in liabilities. Judge Vincent F. Papalia presides over the case. Steven D. Pertuz, Esq. at the Law Offices of Steven D. Pertuz, LLC represents the Debtor as bankruptcy counsel. ALEXA HOLDINGS: Gets Extension to Access Cash Collateral -------------------------------------------------------- Alexa Holdings, Inc. received third interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral. The order penned by Judge David Warren authorized the Debtor's interim use of cash collateral to pay the expenses set forth in its budget, with a 10% variance. The budget projects total expenses of $358,917.75 for the period from June 10 to July 8. As protection for the Debtor's use of its cash collateral, the U.S. Small Business Administration will be granted a post-petition lien on the Debtor's cash and inventory and will continue to receive a monthly payment. The Debtor's authority to use cash collateral terminates upon cessation of its operations or the Debtor's non-compliance with or default of the third interim order, whichever comes first. The next hearing is set for July 8. As of the petition date, the Debtor had cash on hand of approximately $81,131.76 and unencumbered personal property valued at approximately $150,700. About Alexa Holdings Inc. Alexa Holdings, Inc. owns MoonRunners Saloon, a Prohibition-era themed restaurant and bar based in Garner, North Carolina, known for its Southern-style cuisine and distinctive moonshine-focused drink menu. The establishment rose to prominence after being featured on the reality TV show Bar Rescue, which helped revamp its brand and operations. With locations in Garner and Dunn, the saloon continues to attract patrons with its creative cocktails, hearty dishes, and nostalgic ambiance. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01347) on April 14, 2025. In the petition signed by Charles Alexander, president, the Debtor disclosed $231,831 in assets and $2,884,529 in liabilities. Judge Joseph N. Callaway oversees the case. Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the Debtor as legal counsel. ALIEN TECHNOLOGIES: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Alien Technologies Corporation 4210 Dow Road Suite A Melbourne, FL 32934 Business Description: Alien Technologies Corp designs and sells hardtop removal tools and accessories for Jeep Wrangler and Ford Bronco vehicles under the TopLift Pros brand. Chapter 11 Petition Date: June 20, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-03827 Judge: Hon. Grace E Robson Debtor's Counsel: Jesus Lozano, Esq. NARDELLA & NARDELLA, PLLC 135 W. Central Blvd Suite 300 Orlando, FL 32801 Tel: 407-966-2680 Email: jlozano@nardellalaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Frederick W. Hall 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/SJVIPOY/Alien_Technologies_Corporation__flmbke-25-03827__0001.0.pdf?mcid=tGE4TAMA AMPLIFYBIO LLC: Seeks to Hire Ordinary Course Professionals ----------------------------------------------------------- Amplifybio, LLC and affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Ohio to retain non-bankruptcy professionals in the ordinary course of business. The Debtors need ordinary course professionals to perform services for matters unrelated to this Chapter 11 case. The Debtors seek to pay OCPs 100 percent of the fees and expenses incurred. The Debtors do not believe that any of the OCPs have an interest materially adverse to them, their estates, creditors, or other parties in interest in connection with the matter upon which they are to be engaged. The OCPs include: Meaden & Moore --401(k) audit professional Baker Botts --Intellectual property counsel Deloitte --Tax professional (transition matters) RSM --Tax professional Edelman --Professional relations About AmplifyBio LLC AmplifyBio LLC is a preclinical contract research and manufacturing organization based in Ohio that offers integrated services for therapeutic development, including R&D, preclinical testing, and scalable manufacturing for advanced therapies such as cell and gene therapies, mRNA, and non-viral gene editing platforms. Formed as a 2021 spinout from Battelle Memorial Institute, the Company has expanded through acquisitions and facility investments, including a 350,000-square-foot cGMP manufacturing site in New Albany. Its wholly owned subsidiary, ADOC SSF, LLC, is fully integrated into its operations and participates in scientific, operational, and financial activities. AmplifyBio LLC and affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Lead Case No. 25-52140) on May 16, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Mina Nami Khorrami handles the case. The Debtor is represented by Scott N. Opincar, Esq. and Maria G. Carr, Esq. at MCDONALD HOPKINS LLC. HUTCHISON PLLC is the Debtor's co-counsel. EPIQ CORPORATE RESTRUCTURING, LLC is the Debtors' Notice, Claims and Balloting Agent. AMPLIFYBIO LLC: Taps Hilco Commercial Industrial as Broker ---------------------------------------------------------- Amplifybio, LLC and affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Ohio to employ Hilco Commercial Industrial, LLC, Hilco Real Estate, LLC, and Hilco IP Services LLC (d/b/a Hilco Streambank) for marketing and liquidation purposes. The firm will render these services: In connection with the marketing and sale of the Property, Hilco will: (i) meet with the Company to ascertain the Company's goals, objectives, and financial parameters with respect to the sale of the Property; (ii) mutually agree with the Company with respect to a strategic plan for selling the Property (the "Strategy"); (iii) solicit interested parties for the sale of the Property and market the Property for sale in accordance with the Strategy; (iv) comply with any applicable bankruptcy court order governing the sale of the Property; and (v) on the Company's behalf, negotiate the terms of the purchase and sale agreements for the Property in accordance with the Strategy. In connection with the marketing and sale of the machinery and equipment (M&E), Hilco will: (i) develop an advertising and marketing plan for the sale of the M&E; (ii) implement the advertising and marketing plan as deemed necessary or appropriate by Hilco to maximize the net recovery on the M&E; (iii) prepare for the sale of the M&E, including gathering specifications and photographs for pictorial brochures and arranging the M&E in a manner, which in Hilco's judgment would be designed to enhance the net recovery on the M&E; (iv) provide fully qualified and experienced personnel who will prepare for and sell the M&E in accordance with the terms of the Agreement; (v) provide a complete auction crew to handle computerized accounting functions necessary to provide auction buyers with invoices and the Company with a complete accounting of all M&E sold at the auction; (vi) oversee the removal of M&E by buyers from the Property; (vii) sell the M&E for cash or other immediately available funds to the highest bidder(s) on an "AS IS," "WHERE IS" and "all sales are final" basis and in accordance with the terms of the Agreement; (viii) charge and collect on behalf of Company from all purchasers any purchase price together with all applicable taxes in connection therewith; (ix) submit an initial sales report to the Company within fourteen (14) days after the sale of the M&E and a final complete sales report to the Company within fourteen days after the end of the Term; and (x) comply with any applicable bankruptcy court order governing the sale of the M&E. In connection with the marketing and sale of the Intangible Assets (the "Intangible Asset Services", and together with the Real Property Services and M&E Services, collectively, the "Services"), Hilco will: (i) work with the Company to collect and secure all of the available information and data concerning the Intangible Assets; (ii) prepare marketing materials designed to advertise the availability of the Intangible Assets for sale, assignment, license, or other disposition; (iii) develop and execute a sales and marketing program designed to elicit proposals to acquire the Intangible Assets from qualified acquirers with a view toward completing one or more sales, assignments, licenses, or other dispositions of the Intangible Assets; and (iv) assist Company in connection with the transfer of the Intangible Assets to the acquirer(s) who offer the highest or otherwise best consideration for the Intangible Assets. The firm will receive compensation as follows: (i) Company shall pay Hilco an initial fee of $25,000 upon execution of the Agreement (the "Initial Fee"). The Initial Fee shall be earned in full upon execution of the Agreement and shall be non-refundable; provided, however, Hilco shall offset the Initial Fee against Expenses dollar for dollar; provided, further, however, in no event shall Hilco have any obligation to refund any portion of the Initial Fee. (ii) Hilco shall advance and shall be entitled to reimbursement by the Company for all Expenses regardless of whether or not any Assets are sold in accordance with the Agreement. (iii) In consideration of its Real Property Services, Hilco shall be entitled to charge and retain for its own account a commission equal to the sum of the following: (i) 4 percent of the first $10,000,000 of Gross Proceeds from the Property, plus (ii) 3 percent of Gross Proceeds from the Property between $10,000,001 and $15,000,000, plus (iii) 2 percent of Gross Proceeds from the Property between $15,000,001 and $20,000,000, plus (iv) one percent of Gross Proceeds from the Property above $20,000,000. (iv) In consideration of its M&E Services, Hilco shall be entitled to charge and retain for its own account an industry standard buyer's premium of 18 percent of the Gross Proceeds from the sale of M&E. The Buyer's Premium is a fee charged in addition to the sales price of the M&E and is paid for by the applicable buyer. (v) In consideration of its Intangible Asset Services, Hilco shall be entitled to: (a) a non-refundable work fee of $40,000 to be paid upon execution of the Agreement and (b) a commission equal to twenty percent (20%) of Gross Proceeds from the sale of the Intangible Assets. (vi) Within ten (10) calendar days after expiration of the Term or earlier termination of the Agreement, Hilco may provide the Company with a list of third parties, other than Battelle Memorial Institute that Hilco has engaged in negotiations with respect to the Assets covered under the Agreement. If Hilco provides a Prospect list and within one hundred and eighty (180) days after the expiration of the Term of the Agreement or earlier termination (if applicable), the Company and one or more Prospects should enter into one or more written agreements to purchase all or any portion of the Assets, Hilco shall be entitled to fee(s) calculated in accordance with the terms of the Agreement. Each fee shall be paid by the Company to Hilco within five (5) business days after applicable closing between the Company and each Prospect. As disclosed in court filings, Hilco Real Estate does not have a material interest adverse to the Debtor regarding the specific matters for which it is to be retained. The firm can be reached through: Eric W. Kaup Hilco Real Estate, LLC 5 Revere Drive, Suite 206 Northbrook, IL 60062 Tel: (847) 504-2463 Email: ekaup@hilcoglobal.com About AmplifyBio LLC AmplifyBio LLC is a preclinical contract research and manufacturing organization based in Ohio that offers integrated services for therapeutic development, including R&D, preclinical testing, and scalable manufacturing for advanced therapies such as cell and gene therapies, mRNA, and non-viral gene editing platforms. Formed as a 2021 spinout from Battelle Memorial Institute, the Company has expanded through acquisitions and facility investments, including a 350,000-square-foot cGMP manufacturing site in New Albany. Its wholly owned subsidiary, ADOC SSF, LLC, is fully integrated into its operations and participates in scientific, operational, and financial activities. AmplifyBio LLC and affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Lead Case No. 25-52140) on May 16, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Mina Nami Khorrami handles the case. The Debtor is represented by Scott N. Opincar, Esq. and Maria G. Carr, Esq. at MCDONALD HOPKINS LLC. HUTCHISON PLLC is the Debtor's co-counsel. EPIQ CORPORATE RESTRUCTURING, LLC is the Debtors' Notice, Claims and Balloting Agent. ARCOUB INC: Seeks to Hire Peter Spindel Esq. P.A. as Attorney ------------------------------------------------------------- Arcoub Inc. filed an amended application seeking approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Peter Spindel, Esq., P.A. as attorney. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements; (c) prepare legal documents; (d) protect the interest of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. The firm will be paid at these rates: Attorneys $350 per hour Paralegals $100 per hour The firm will be paid a retainer of $6,000. As disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Peter Spindel, Esq. PETER SPINDEL, ESQ., PA 5775 Blue Lagoon Dr., Ste. 300 Miami, FL 33126 Tel: (786) 355-4631 Fax: (305) 448-7788 Email: peterspindel@gmail.com About Arcoub Inc Arcoub Inc filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15191) on May 8, 2025, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Laurel M Isicoff presides over the case. Peter Spindel, Esq. at PETER SPINDEL, ESQ., PA represents the Debtor as counsel. ASCEND PERFORMANCE: Committee Hires Ducera as Investment Banker --------------------------------------------------------------- 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 Ducera Partners LLC and its affiliates including, where appropriate, Ducera Securities LLC, as investment banker. Ducera shall provide these financial advisory and investment banking services to the Committee: (a) General Advisory and Investment Banking Services; Restructuring Services. If requested by the Committee (including through the Committee's lead counsel, Brown Rudnick LLP (together with any other legal counsel retained by the Committee in connection with the Chapter 11 Cases, "Counsel")), Ducera shall: (1) familiarize itself with the Company's business, operations, financial condition, and capital structure; (2) assist with the assessment of the Company's liquidity and uses of liquidity and with identifying potential sources of financing in connection with future transactions; (3) analyze various Restructuring scenarios and the potential impact of these scenarios on the Existing Obligations of the Company and the recoveries of those stakeholders impacted by the Restructuring; (4) provide investment banking and financial advice and assistance to the Committee in connection with any Restructuring proposals advanced by the Committee, the Debtors or any other parties or stakeholders; (5) provide investment banking and financial advice and assistance to the Committee in structuring any new securities to be issued by the Debtors in connection with a Restructuring; (6) provide investment banking and financial advice and assistance to the Committee in connection with any proposed sale of the Debtors' assets (including any 363 Sale Transaction) or any financing transactions proposed to be pursued by the Debtors (including any debtor in possession financing transactions); (7) assist the Committee and/or participate in negotiations with the Debtors, the Committee and any other entities or groups affected by the Restructuring; (8) participate in hearings before the Court and provide expert testimony and litigation support services, as requested from time to time by the Committee, regarding any of the matters to which Ducera is providing services; and (9) provide such other advisory and investment banking services as may be agreed upon by Ducera and the Committee. (b) To the fullest extent permitted by applicable laws and rules, work performed by Ducera as part of this engagement, including, without limitation, any communications with Counsel and the Committee, and any advice, analysis, or reports Ducera may prepare, shall be covered by attorney work-product doctrine, the attorney-client privilege, and all other applicable privileges. Any reports or analyses generated by Ducera are not the property of the Debtors or their estates, and such reports or analyses are the property of the Committee (and not any of its Members individually). Ducera will receive compensation as follows: (a) A nonrefundable monthly cash fee of $175,000, payable in advance (the "Monthly Advisory Fee") or as otherwise set forth in a Court order. The Monthly Advisory Fee shall commence as of the Effective Date. The first Monthly Advisory Fee and any additional Monthly Advisory Fees accrued from the Effective Date through the entry of an order of the Court approving Ducera's retention by the Committee shall be payable upon the entry of such order, subject to any other applicable orders of the Court. The Monthly Advisory Fee shall be payable until the earlier of: (1) the consummation of a Restructuring or (2) the termination of Ducera's services by the Committee; plus, (b) A restructuring fee of $3,000,000 that shall be due and payable upon consummation of any Restructuring (the "Restructuring Fee"). (c) The Company shall receive a discount of $87,500 per month against the Restructuring Fee for each month commencing after payment of the sixth (6th) full Monthly Advisory Fee (the "Ducera Discount"); provided, however, that the Ducera Discount shall only apply if any and all outstanding invoices have been paid before, or in connection with, the consummation of the Restructuring. (d) In addition to the fees set forth in this Paragraph 13, the Debtors shall, subject to approval of the Court, reimburse Ducera at cost for all reasonable and documented out-of-pocket expenses incurred in connection with the services provided to the Committee hereunder, including, but not limited to, reasonable and documented travel and transportation expenses, third party research and telecommunication expenses, printing costs, courier and other shipping and mailing costs as well as reasonable and documented expenses of Ducera's external legal counsel and other expenses incurred in performing Ducera's services hereunder during the Term on or after the Effective Date of the Engagement Letter, subject to the provisions of this subparagraph 13(d); provided, however, that this subparagraph 13(d) shall in no way affect the indemnification provisions set forth in Annex A of the Engagement Letter. All payments due under this Application (including this Paragraph 13) shall be made in U.S. dollars in immediately available funds, free and clear of any set-off, claim, and applicable taxes (with appropriate gross-up for any taxes withheld). (e) The Committee and Ducera acknowledge and agree that (1) hours worked; (2) the results achieved; and (3) the ultimate benefit to the Committee of the work performed, in each case, in connection with this engagement, may be variable, and that the parties have taken such factors into account in setting the fees set forth in this Paragraph 13. To the extent further services are requested by the Committee in connection with the Chapter 11 Cases, the Committee and Ducera agree to negotiate in good faith a reasonable scope of services and fee structure in connection with any such further services provided by Ducera, depending on the size, scope, and nature of the services to be provided. Michael Genereux, a managing director at Ducera Partners, disclosed in a court filing that the firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Genereux Ducera Partners, LLC 11 Times Square, 36th Floor New York, NY 10036 Telephone: (212) 671-9700 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. ASCEND PERFORMANCE: Committee Taps Brown Rudnick LLP as Co-Counsel ------------------------------------------------------------------ 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 Brown Rudnick LLP as co-counsel. The firm will provide these services: (a) assist, advise, and represent the committee in its meetings, consultations and negotiations with the Debtors and other parties in interest regarding the administration of these cases; (b) assist, advise, and represent the committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the committee; (c) assist the committee's review of the Debtors' Schedules of Assets and Liabilities, Statement of Financial Affairs and other financial reports prepared by or on behalf of the Debtors; (d) assist committee's investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and their affiliates; (e) assist and advise the committee regarding the identification and prosecution of estate claims and causes of action; (f) assist and advise the committee in its review and analysis of, and negotiations with the Debtors and any counterparties related to, any potential sale or restructuring transactions; (g) review and analyze all applications, motions, complaints, orders, and other pleadings filed with the court by the Debtors or third parties, and advise the committee as to their propriety and, after consultation with the committee, take any appropriate action; (h) prepare necessary legal papers on behalf of the committee, and pursue or participate in contested matters and adversary proceedings as may be necessary or appropriate in furtherance of the committee's duties, interest, and objectives; (i) represent committee at hearings held before the court and communicate with the committee regarding the issues raised, and the decisions of the court; (j) assist, advise and represent committee in connection with the review of filed proofs of claim and reconciliation of or objections to such proofs of claim and any claims estimation proceedings; (k) assist, advise and represent committee in its participation in the negotiation, formulation, and drafting of a plan of reorganization/liquidation; (l) assist, advise and represent the committee with respect to its communications with the general creditor body regarding significant matters in these cases; (m) respond to inquiries from individual creditors as to the status of, and developments in, these cases; and (n) provide such other services to the committee as may be necessary in these cases or any related proceedings. The firm's counsel and staff will be paid at these hourly rates: Partners $950 - $2,450 Counsel $445 - $1,290 Associates $685 - $1,015 Paralegals $400 - $550 In addition, the firm will seek reimbursement for expenses incurred. Bennett Silverberg, Esq., a partner at Brown Rudnick, 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: Bennett S. Silverberg, Esq. Brown Rudnick LLP One Financial Center Boston, MA 02111 Telephone: (617) 856-8586 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. ASCEND PERFORMANCE: Committee Taps Parkins & Rubio as Co-Counsel ---------------------------------------------------------------- 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 Parkins & Rubio LLP as Texas co-counsel. The firm's services include: a. assisting and advising the Committee, in coordination with Brown Rudnick, on local procedures, case law, and practices relevant to consultations, meetings, and negotiations with the Debtors and other stakeholders regarding the administration of these Cases; b. advising the Committee on its powers and responsibilities under the Bankruptcy Code and Rules, including the application of local rules and practices and in performing other services as are in the interests of those represented by the Committee; c. assisting with the Committee review of the Debtors' Schedules of Assets and Liabilities, Statement of Financial Affairs and other financial reports prepared by or on behalf of the Debtors; d. supporting the Committee's investigation of the Debtors' financial condition, transactions, and conduct, particularly as such matters may involve parties or assets located within this jurisdiction; e. advising on the identification, evaluation, and potential prosecution of estate claims and causes of action; f. assisting in the review, analysis, and negotiation of any proposed sale, restructuring, or other transaction including compliance with local rules and law; g. reviewing and analyzing court filings and pleadings, advising the Committee, and taking action where appropriate; h. preparing and filing documents in accordance with local court requirements, and supporting Brown Rudnick in adversary proceedings or contested matters where local participation or appearances are necessary; i. representing the Committee at hearings before this Court where local counsel's presence is required or beneficial, and advising on developments and rulings; j. assisting with the review, reconciliation, and objection to proofs of claim, including estimation proceedings; k. supporting the Committee's involvement in the development, negotiation, and drafting of a plan of reorganization or liquidation, with particular attention to compliance with applicable law, including local law and procedural rules; l. facilitating the Committee's communications with the general creditor body on key case developments; m. serving as conflicts counsel to the Committee, if and when such service becomes necessary; n. responding to creditor inquiries regarding the status of the Cases; and o. performing such other non-duplicative services as may be necessary to advance the Committee's interests in these Cases. The hourly rates charged by the firm's attorneys and paralegals are: Lenard Parkins, Esq. $1,300 per hour Charles Rubio, Esq. $850 per hour Associate Attorneys $500 - $650 per hour Paralegals $180 - $250 per hour In addition, the firm will seek reimbursement for work-related expenses incurred. Charles Rubio, Esq., a partner at Parkins & Rubio, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Lenard M. Parkins, Esq. Charles M. Rubio, Esq. Matthew W. Bourda, Esq. Parkins & Rubio, LLP 700 Milam Street, Suite 1300 Houston, TX 77002 Tel: (713) 715-1660 Fax: (713) 715-1669 Email: lparkins@parkinsrubio.com crubio@parkinsrubio.com mbourda@parkinsrubio.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. ASHER HOMES: Hires Horizon CPAs and Advisors PLC as Accountant -------------------------------------------------------------- Asher Homes LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Oklahoma to employ Horizon CPAs and Advisors PLC as accountant. The firm will assist the Debtor with the preparation of the required tax returns, and provide accounting assistance as needed in the bankruptcy case. The firm will be paid at the rate of $175 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ms. Burch 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: Kathy L. Burch Horizon CPAs and Advisors PLC 4715 East 91st Street Suite 100 Tulsa, OK 74137 Tel: (918) 398-7900 Fax: (918) 398-7904 About Asher Homes LLC Asher Homes LLC specializes in owning and managing real estate properties, including subdivision lots in Broken Arrow, Tulsa, Jenks, Bixby, and Owasso, Oklahoma, with a total current value of $12.72 million. Asher Homes filed its voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Okla. Case No. 24-10067) on January 20, 2025. In the petition signed by Daniel Ruhl, president, the Debtor disclosed $12,736,760 in total assets and $11,688,091 in total liabilities. Judge Terrence L. Michael oversees the case. Ron D. Brown, Esq., at Brown Law Firm, PC serves as the Debtor's counsel. ASPEN ELECTRONICS: Hires Allen Vellone Wolf as Expert ----------------------------------------------------- Aspen Electronics Manufacturing, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Allen Vellone Wolf Helfrich & Factor, P.C. as expert. The firm will provide expert opinions and potential testimony with respect to the Debtor's malpractice claim against James "JP" Phillips and Phillips Legal, P.C. The firm will be paid at these rates: Attorneys $650 per hour Paralegals $275 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Jonsen 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: Eric Jonsen, Esq. Allen Vellone Wolf Helfrich & Factor P.C. 1600 Stout Street, Suite 1900 Denver, CO 80202 Tel: (303) 534-4499 About Aspen Electronics Manufacturing, Inc. Aspen Electronics Manufacturing Inc., an electronics manufacturer in Westminster, Colorado, sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 24-16558) on Nov. 1, 2024. In the petition filed by Giao Le, president, the Debtor disclosed total assets of $1,828,289 and total liabilities of $2,710,940. Judge Joseph G. Rosania Jr. oversees the case. The Debtor tapped Jenny M.F. Fujii, Esq., at Kutner Brinen Dickey Riley PC and Laurin H. Mills, Esq., at Werther & Mills, LLC as special counsel. AT HOME GROUP: Moody's Lowers PDR to D-PD Amid Ch. 11 Filing ------------------------------------------------------------ Moody's Ratings downgraded At Home Group Inc.'s ("At Home") probability of default rating to D-PD from Ca-PD. At the same time, Moody's affirmed all other ratings including its Ca corporate family rating, the company's senior secured first lien term loan B rating and senior secured global notes ratings at C and its senior unsecured global notes rating at C. Additionally, Moody's affirmed At Home Cayman's backed senior secured global notes rating at C. The outlook for both issuers was changed to stable from negative. The downgrade reflects governance considerations related to the company's announcement [1] that is has filed for protection under Chapter 11 of the US Bankruptcy Code. The filing follows a period in which At Home had been struggling to improve its operations as it faced increased tariffs particularly from China its largest country of origin and contended with weak liquidity. RATINGS RATIONALE On June 16, 2024, At Home commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware. Lenders holding more than 95% of the Company's debt have entered into a restructuring support agreement, pledging their support for the in-court recapitalization which is expected to reduce substantially all of its $2 billion of debt. The proposed plan would provide for a $600 million DIP financing, $400 million which will be rolled from existing secured debt and $200 million of new capital from existing lenders. The company's stores and website will continue to operate during this process. Subsequent to the actions, Moody's will withdraw all of At Home's ratings. At Home Group Inc. operates 260 large format home decor and home improvement retail stores across 40 states and generated about $1.8 billion of revenue for fiscal year ended January 25, 2024. Prior to its Chapter 11 filing, the company was owned by Hellman & Friedman LLC. The principal methodology used in these ratings was Retail and Apparel published in November 2023. The assigned Ca CFR is two notches below the Caa2 scorecard indicated outcome based on the company's bankruptcy filing, its depressed operating performance and significant exposure to higher tariffs in China which reduces estimated recoveries. AUVECO HOLDINGS: Cliffwater Corporate Marks $1.3MM Loan at 79% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,315,789 loan extended to Auveco Holdings, Inc. to market at $294,049 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 Revolver Loan to Auveco Holdings, Inc. The loan accrues interest at a rate of 9.71% per annum. The loan matures on May 5, 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 Auveco Holdings, Inc. Auveco Holdings, Inc. is engaged in producing and distributing automotive fasteners and industrial fasteners which are used in general industrial maintenance, repair and maintenance. AWI GROUP: Cliffwater Corporate Marks $2.7MM Loan at 70% Off ------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,725,000 loan extended to AWI Group, LLC to market at $817,500 or 30% 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 AWI Group, LLC. The loan accrues interest at a rate of 10.05% per annum. The loan matures on August 1, 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 AWI Group, LLC AWI Group, LLC specializes in connecting brands with consumers through strategic marketing and sales solutions. AWS HOSPITALITY: Seeks Subchapter V Bankruptcy in Illinois ---------------------------------------------------------- On June 19, 2025, AWS Hospitality Group Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Illinois. 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 AWS Hospitality Group Inc. AWS Hospitality Group Inc., operates S2 Express Grill, is 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. AWS Hospitality Group Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09341) on June 19, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Michael B. Slade handles the case. The Debtors are represented by Scott R. Clar, Esq. at CRANE, SIMON, CLAR & GOODMAN. AZUL SA: Section 341(a) Meeting of Creditors on July 30 ------------------------------------------------------- A meeting of creditors of Azul S.A. and its debtor-affiliates is set for July 30, 2025, at 12:00 p.m. (prevailing Eastern Time). Telephone conference: Dial-in Number: (877) 92905805, Passcode: 1293922#. The Debtors' representative must attend the meeting to be questioned under oath. Creditors may attend but are not required to do so. The meeting may be continued or adjourned to a later date. Further information regarding the meeting of creditors, contact (833) 888-6055 (Toll-Free) or +1 (949) 556-3896 (International) or visit https://cases.stretto.com/Azul About Azul SA Azul S.A. (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, offers 900 daily flights to over 150 destinations. With an operating fleet of over 200 aircrafts and more than 15,000 Crewmembers, the Company has a network of 300 non-stop routes. Azul was named by Cirium (leading aviation data analysis company) as the most on-time airline in the world in 2023. In 2020 Azul was awarded best airline in the world by TripAdvisor, the first time a Brazilian flag carrier earned the number one ranking in the Traveler's Choice Awards. On the Web: http://www.voeazul.com.br/imprensa On May 28, 2025, Azul S.A. and 19 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11176). The cases are pending before Judge Sean H. Lane. The Company is supported by Davis Polk & Wardwell LLP, White & Case LLP, and Pinheiro Neto Advogados as legal counsel; FTI Consulting as financial advisor; Guggenheim Securities, LLC as investment banker; SkyWorks Capital LLC as fleet advisor; and FTI Consulting, C Street Advisory Group, and MassMedia as strategic communications advisors. Stretto is the claims agent. The Participating Lenders are supported by Cleary Gottlieb Steen & Hamilton LLP and Mattos Filho as legal counsel and PJT Partners as investment banker. United Airlines is supported by Hughes Hubbard & Reed LLP and Sidley Austin LLP as legal counsel and Barclays Investment Bank as investment banker. American Airlines is supported by Latham & Watkins LLP as legal counsel. AerCap is supported by Pillsbury Winthrop Shaw Pittman LLP as legal Counsel. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Azul S.A. and its affiliates. BALCAN INNOVATIONS: Moody's Alters Outlook on 'B2' CFR to Negative ------------------------------------------------------------------ Moody's Ratings has affirmed Balcan Innovations Inc.'s (Balcan) B2 corporate family rating, B2-PD probability of default rating and B2 senior secured bank credit facility rating. The outlook is changed to negative from stable. The change in outlook to negative reflects the company's weaker than anticipated operating performance, the uncertain short term demand trajectory amid macroeconomic weakness, and Moody's expectations of negative free cash flow and leverage remaining above 6x over the next 12 months. The weak operating environment leaves the company weakly positioned to deal with the execution risks in the Wisconsin facility's ramp-up and potential disruptions amid the unclear tariff landscape. Although Balcan's products are USMCA compliant, the tariff landscape is very fluid and changes in tariff criteria could lead to tariff payments. RATINGS RATIONALE Balcan Innovations Inc.'s corporate family rating is constrained by: (1) weak liquidity; (2) small scale, relative to rated packaging peers; (3) financial policies, including high financial leverage, that are likely to favor shareholders; (4) about half of revenue exposed to construction and building product end markets, which is more volatile relative to other packaging end markets; and (5) fragmented and competitive nature of plastics packaging industry with low organic growth. The company's rating benefits from: (1) diverse applications of its products; (2) diversified customer base with top 5 representing less than one-fourth of the revenue; (3) long term relationships with customers; and (4) around half of Balcan's sales are under contract with cost pass through mechanisms, enabling capturing of input cost inflation. Balcan has adequate liquidity. Moody's estimates sources of liquidity of about CAD115 million compared to uses of about CAD16 million over the next 12 months. Liquidity sources include about CAD15 million of cash on February 28, 2025 and full availability under the US$75 million (about CAD100 million) ABL revolving facility expiring 2029. Uses include Moody's expected free cash flow usage of around CAD10 million and about CAD6 million of mandatory term loan repayment over the next 12 months. Balcan does not have to comply with any financial covenants unless ABL availability falls below the greater of 10% of the line cap and $5 million, which mandates compliance with a minimum fixed charge coverage ratio of 1x. Moody's do not expect this covenant to be applicable in 2025. The company has limited ability to generate liquidity from asset sales as its assets are encumbered. Balcan's capital structure consists of a) $75 million ABL revolving credit facility expiring in 2029 (unrated); and b) B2 rated $460 million first lien term loan B due 2031. The B2 rating on the first lien term loan B is in line with the assigned corporate family rating, reflecting the fact that it accounts for the preponderance of the company's debt capital structure. The ABL is secured by a first priority lien on accounts receivable, inventory, cash and related assets (ABL priority collateral) and a wrapping lien on the term loan collateral. The first lien term loan credit facility is secured by a second priority lien on the ABL priority collateral and first priority lien on substantially all other assets of the borrower and guarantors. The negative outlook incorporates the uncertain demand environment, company's weak operating performance, Moody's expectations of negative free cash flow and leverage remaining above 6x over the next 12 months, which leaves the company weakly positioned to deal with the execution risks in the Wisconsin facility's ramp-up and potential disruptions amid the unclear tariff landscape. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if consolidated adjusted debt/EBITDA is sustained below 5x, EBITDA/Interest is sustained above 3.5x, free cash flow to debt remains above 4%, and the company maintains good liquidity. The ratings could be downgraded if adjusted Debt/EBITDA is sustained above 6x, EBITDA/interest is sustained below 2.5x, free cash flow trends to zero, or liquidity deteriorates. Headquartered in Montreal, Quebec, Balcan Innovations Inc. is a fully integrated flexible packaging manufacturer producing a variety of high-performance films, reflective insulation and other flexible packaging solutions. The principal methodology used in these ratings was Packaging Manufacturers: Metal, Glass and Plastic Containers published in April 2025. Balcan's B2 CFR is two notches above the Caa1 scorecard indicated outcome. The two notch differential reflects Balcan's temporarily weakened credit metrics because of a decline in demand as a result of the uncertain US tariff landscape. Moody's expects the company's credit metrics will rebound over the next 12-18 months as tariff uncertainty diminishes and demand improves. BECKHAM JEWELRY: Hires Bobby Wilkerson Inc. as Sale Consultant -------------------------------------------------------------- Beckham Jewelry, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Mississippi to employ Bobby Wilkerson, Inc. as sale consultant. The firm will assist the Debtor in the planning and conducting a promotional sale of the Debtor's stock of merchandise located at 120 District Blvd., Ste. D110, Jackson, MS 39211. The firm will be paid a commission of 11 percent of the gross sale price for merchandise and 4 percent of the gross sale price for large diamonds. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bobby Wilkerson Bobby Wilkerson, Inc. 222 South Main Street Stuttgart, AR 72160 Tel: (800) 631-1999 Email: info@wilkerson.cc About Beckham Jewelry, LLC Beckham Jewelry, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Miss. Case No. 25-01234-JAW) on May 14, 2025. In the petition signed by Brian Lee Beckham, member, the Debtor disclosed up to $10 million in assets and up to $500,000 in liabilities. Judge Jamie A. Wilson oversees the case. Thomas C. Rollins, Jr., Esq., at The Rollins Law Firm, PLLC, represents the Debtor as legal counsel. BEDMAR LLC: DLA Piper Files Rule 2019 Statement ----------------------------------------------- The law firm of DLA Piper LLP (US) filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 case of Bedmar LLC, the firm represents the following creditors (collectively, the "Creditors"): 1. President and Fellows of Harvard College * Claims in connection with the applicable lease as landlord and guaranty; Claim amount TBD. 2. 92 Crowley Owner (DE) LLC * Claims in connection with the applicable lease as landlord and guaranty; Claim amount TBD. 3. CEGM Alachua, LLC * Claims in connection with the applicable lease as landlord and guaranty; Claim amount TBD. Each of the Creditors is a holder of claims against the Debtor. DLA Piper has fully advised each of the Creditors with respect to this concurrent representation. The Creditors have (a) consented to such representation and (b) requested that DLA Piper represent them in this chapter 11 case. DLA Piper does not presently own, nor has it previously owned, any claims against, or interests in, the Debtor. The law firm can be reached at: DLA PIPER LLP (US) Stuart M. Brown, Esq. R. Craig Martin, Esq. Aaron Applebaum, Esq. 1201 North Market Street, Suite 1200 Wilmington, Delaware 19801 Telephone: (302) 468-5700 Facsimile: (302) 394-2341 Email: stuart.brown@us.dlapiper.com aaron.applebaum@us.dlapiper.com craig.martin@us.dlapiper.com About Bedmar LLC Bedmar LLC is a real estate company based in San Diego, California, that owns and manages manufacturing, laboratory, and office properties across several U.S. locations, including Massachusetts, California, and Florida. Its portfolio includes multiple sites in Bedford, Allston, Marlborough, San Diego, Fremont, and Alachua. The Company's current operations are primarily focused on managing and winding down these sites. Bedmar LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Del. Case No. 25-11027) on June 9, 2025. In its petition, the Debtor reported estimated assets and liabilities of $50 million to $100 million. The petition was signed by Christopher S. Sontchi as independent manager. The Honorable J Kate Stickles handles the case. Richards Layton & Finger, P.A. is the Debtors' counsel. The Debtor's financial and restructuring advisor is Douglas Wilson Companies. The Debtor's claims and noticing agent is Epiq Corporate Restructuring LLC. BELLISSI FURNITURE: Court Extends Cash Collateral Access to Aug. 31 ------------------------------------------------------------------- Bellissi Furniture Inc. received another extension from the U.S. Bankruptcy Court for the Eastern District of New York to use the cash collateral of U.S. Small Business Administration. The court's second interim order extended the Debtor's authority to utilize cash collateral from May 30 to August 31 in line with its submitted budget. As protection for any diminution in value of its collateral, SBA will be granted post-petition replacement liens on and security interests in all assets of the Debtor senior to all other security interest in, liens on or claims against the collateral, subject to the so-called carveout. In addition, SBA will continue to receive a monthly payment of $500 as further protection. The monthly payment started in March. The second interim order prohibited the Debtor from selling, transferring, leasing, encumbering or otherwise disposing of any portion of SBA's collateral, including cash collateral without prior consent of the SBA or order of the court. The Debtor's authority to use cash collateral terminates upon occurrence of so-called events of default including failure by the Debtor to timely make the payment; use of cash collateral in excess of the budget; the entry of order granting relief from or modifying the automatic stay; dismissal or conversion of the Debtor's Chapter 11 case; appointment of a Chapter 11 trustee or examiner; and a default by the Debtor in reporting financial or operational information that is not cured within five days after notice of such default. About Bellissi Furniture Inc. Bellissi Furniture, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 24-44118) on October 2, 2024, listing up to $500,000 in assets and up to $1 million in liabilities. Dmitry Novosyolov, president of Bellissi Furniture, signed the petition. Judge Nancy Hershey Lord oversees the case. Alla Kachan, Esq., at Law Offices of Alla Kachan, P.C., represents the Debtor as bankruptcy counsel. BENNY AND MARY'S: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Benny and Mary's Irvine, LLC go the green light from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to use cash collateral. At the hearing held on June 18, the court granted the Debtor's motion to use cash collateral on an interim basis and set a further hearing on the motion for July 8. The Debtor needs to use cash collateral in accordance with its budget, allowing for a 10% variance, to cover essential operating expenses such as payroll, rent, insurance, and utilities. The Debtor argued that secured creditors, including U.S. Foods and the California Department of Tax and Fee Administration, are adequately protected through the continued generation of revenue and the granting of replacement liens on post-petition assets, excluding avoidance actions. The Debtor's assets include cash, inventory, equipment, a valuable liquor license, and anticipated tax refunds. It is also burdened by a significant $833,542 judgment currently under appeal and outstanding tax obligations. The Debtor filed its bankruptcy petition on June 6, following notice from the CDTFA threatening suspension of its liquor license. The Debtor asserts that without immediate access to cash collateral, it would face irreparable harm, including the inability to pay employees and vendors, potentially shutting down its business. About Benny and Marys Irvine LLC Benny and Marys Irvine LLC, d/b/a Benny and Marys Better Together, operates a full-service restaurant in Irvine, California. The establishment offers brunch, dinner, and craft cocktails, with a menu inspired by global cuisine and California flavors. Its interior features a whimsical, maximalist design aimed at creating a distinctive dining experience. Benny and Marys Irvine LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-14830) on June 6, 2025. In its petition, the Debtor reports total assets of $1,867,887 and total liabilities of $2,612,582. The Debtors are represented by Christopher A. Minier, Esq. at GOLDEN GOODRICH LLP. BG SHOP: Hires Neeleman Law Group P.C. as Legal Counsel ------------------------------------------------------- BG Shop, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Neeleman Law Group, P.C. as legal counsel. The firm's services include: a. assisting the Debtor in the investigation of the financial affairs of the estate; b. providing legal advice and assistance to the Debtor with respect to matters relating to this case and creditor distribution; c. preparing all pleadings necessary for proceedings arising under this case; and d. performing all necessary legal services for the estate in relation to this case. The firm will charge its standard rates: Principals $600 per hour Associate $475 per hour Paralegals $250 per hour In addition, the firm will seek reimbursement for expenses incurred. Neeleman Law Group received a retainer in the amount of $4,000. Jennifer Neeleman, Esq., a partner at Neeleman Law Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jennifer L. Neeleman, Esq. Neeleman Law Group, PC 1403 8th Street Marysville, WA 98270 Telephone: (425) 212-4800 Email: jennifer@neelemanlaw.com About BG Shop, LLC BG Shop, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Wash. Case No. 25-41005-MJH) on April 30, 2025. The Debtor hires Neeleman Law Group, P.C. as counsel. BIRD GLOBAL: Court Won't Modify Consummated Chapter 11 Plan ----------------------------------------------------------- Judge Rodolfo A. Ruiz II of the United States District Court for the Southern District of Florida dismissed as moot the appeal styled BRENDA WRIGHT, et al., Appellants, v. BIRD GLOBAL, INC., et al., Appellees, Case No. 24-cv-23086-RAR (S.D. Fla.). Appellants wish to modify certain elements of Bird Global, Inc. and affiliated debtor entities' Chapter 11 Plan of Liquidation, which has been confirmed by the bankruptcy court. Appellees seek to dismiss this appeal on the grounds that it is both equitably and statutorily moot. The Plan involved several parts. The Plan transferred substantial funds to a Tort Claims Trust that would be used solely to pay Tort Claims. The Plan also transferred all remaining assets of the Debtors to a second Liquidating Trust. To manage the remainder of the Debtors' estates, the Plan coordinated with the Liquidating Trust and Tort Claims Trust's trustees. And to deal with certain priority claims, the Plan irrevocably transferred assets to Equip Corporate Restructuring, LLC, the Debtors' claims agent. Beyond these structural changes, the Plan coordinated the Insurance Settlement Agreements with the Plan's terms. Specifically, the Plan provided that a Channeling Injunction would transfer $19,216,036.50 from the Insurance Settlement Released Parties to Insurers. The Channeling Injunction precludes tort claimants from pursuing their Tort Claims against the Insurance Settlement Released Parties, and instead "channels" those specific claims into the Tort Claims Trust. Parties contested the Plan's confirmation. Certain Appellants challenged -- among other things -- the Plan's structure, the nature of the Channeling Injunction, and the Bankruptcy Court's constitutional and statutory authority to enter a final order in Chapter 11 cases. After a two-day hearing, and following additional briefing, the Bankruptcy Court determined that the Plan should be confirmed and that the Insurance Settlement Agreements should be approved. The Confirmation Order contained several findings relevant in this case. The Bankruptcy Court concluded that the $19.2 million to be contributed to the tort claims trust will sufficiently fund the trust to resolve all asserted tort claims. In addition, the Bankruptcy Court found that the Insurers were good faith purchasers of the Policies under section 363(m) of the Bankruptcy Code. The Plan became effective on Sept. 16, 2024. While Appellants present numerous ways for the Court to modify the Plan, Appellees argue that such modifications would disrupt a substantially consummated plan in violation of established Eleventh Circuit precedent and parts of the Bankruptcy Code. The Court cannot modify the Plan because the appeal is moot. Judge Ruiz holds, "This appeal is equitably moot, because a review of the facts and Eleventh Circuit precedent clearly indicate that the Plan has progressed to the point where effective judicial relief is no longer a viable option. And this appeal is statutorily moot, because Appellants seek a modification of integral elements of a bankruptcy-court-approved Plan that permits the sale of certain Policies to an undisputed, good-faith purchaser." A copy of the Court's Order dated June 11, 2025, is available at https://urlcurt.com/u?l=KK6xix from PacerMonitor.com. About Bird Global Inc. Bird Global, Inc., a micro-mobility operator, is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. The company is based in Miami, Fla. Bird Global and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 23-20514) on December 20, 2023. In the petition signed by its chief restructuring officer, Christopher Rankin, Bird Global disclosed up to $500 million in both assets and liabilities. Judge Laurel M. Isicoff oversees the cases. Paul Steven Singerman, Esq., Jordi Guso, Esq., and Clay B. Roberts, Esq., at Berger Singerman LLP, represent the Debtors as legal counsel. Teneo Capital LLC is the Debtors' restructuring advisor. Epiq Corporate Restructuring, LLC serves as notice and claims agent. The Senior DIP Parties and Prepetition First Lien Parties, led by MidCap Financial Trust, are represented by Latham & Watkins LLP (James Ktsanes; John Lister; Hugh Murtagh). Covington & Burling LLP (Ronald A. Hewitt) represents the Junior DIP Agent, U.S. Bank. Venable LLP (Paul J. Battista) advises the Junior DIP Lenders and Participating Second Lien Parties. On January 5, 2024, the U.S. Trustee for Region 21 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Fox Rothschild, LLP as legal counsel and Berkeley Research Group, LLC as financial advisor. BISHOP OF SAN DIEGO: Aylstock Witkin Advises Abuse Claimants ------------------------------------------------------------ The law firm of Aylstock, Witkin, Kreis & Overholtz, PLLC ("AWKO") filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 case of the Roman Catholic Bishop of San Diego, the firm represents several sexual abuse claimants. AWKO's business address is 17 East Main Street, Suite 200, Pensacola, FL 32502. Attorneys S. Mary Liu, among others at AWKO, are duly licensed to practice before Courts of the State of California and the United States District Court for the Southern District of California. Due to confidentiality, each Claimant listed in Exhibit A has been identified by their Sexual Abuse Proof of Claim Form number. The names and addresses of the confidential Claimants are available to permitted parties who have executed a confidentiality agreement and have access to the Sexual Abuse Claim Forms. Pursuant to individual fee agreements, AWKO was individually retained by each Claimant listed in Exhibit A to pursue claims for damages against The Roman Catholic Bishop of San Diego, California as a result of sexual abuse. This includes representing and acting on behalf of each Claimant in the bankruptcy case. Each Claimant maintains an individual economic interest against the Debtor that has been disclosed in the Confidential Sexual Abuse Claim Supplement or will be disclosed in the future. The law firm can be reached at: AYLSTOCK, WITKIN, KREIS & OVERHOLTZ, PLLC S. Mary Liu, Esq. 17 E Main Street, Suite 200 Pensacola, FL 32502 Tel: 850-202-1010 Fax: 850-916-7449 Email: sateam@awkolaw.com About The Roman Catholic Bishop of San Diego The Roman Catholic Bishop of San Diego sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 24-02202) on June 17, 2024. In the petition signed by Rodrigo Valdivia, vice moderator of the Curia, the Debtor disclosed up to $500 million in both assets and liabilities. Judge Christopher B. Latham oversees the case. The Debtor tapped Gordon Rees Scully Mansukhani, LLP as counsel and GlassRatner Advisory & Capital Group, LLC, doing business as B. Riley Advisory Services, as financial advisor. Donlin, Recano & Company, Inc., is the claims agent and administrative advisor. BISHOP OF SANTA ROSA: Hires Newcastle as Real Estate Broker ----------------------------------------------------------- The Roman Catholic Bishop of Santa Rosa seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Newcastle Properties Group as real estate broker. The firm will market and sell the Debtor's real properties known as: -- St. Joan of Arc Parish, located at 6406 Washington Street in Yountville, California; -- St. Sebastian Parish, located at 7983 Covert Lane, Sebastopol, CA 95472. The firm will be paid a commission of 5.5 percent of the sales price of each property. Mr. Nixon 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: Peter Nixon Newcastle Properties Group 477 Main Street Newcastle CA, 95658 Tel: (916) 259-4455 Email: peter.nixon@newcastlepg.com About The Roman Catholic Bishop of Santa Rosa The Roman Catholic Bishop of Santa Rosa is a diocese, or ecclesiastical territory, of the Roman Catholic Church in the Northern California region of the United States, named in honor of St. Rose of Lima. Abuse victims filed hundreds lawsuits after the state of California paused for three years its statute of limitation on claims for child sexual abuse. The pause ended on Dec. 31, 2022. Facing more than 200 new legal claims over childhood sexual abuse, the Roman Catholic Bishop of Santa Rosa, also known as the Diocese of Santa Rosa, filed a Chapter 11 petition (Bankr. N.D. Calif. Case No. 23-10113) on March 13, 2023. The Debtor estimated $10 million to $50 million in both assets and liabilities. The Hon. Charles Novack is the case judge. The Debtor tapped Felderstein Fitzgerald Willoughby Pascuzzi & Rios, LLP as bankruptcy counsel; GlassRatner Advisory & Capital Group, LLC as financial advisor; and Donlin, Recano & Company, Inc. as claims agent. Shapiro Galvin Shapiro & Moran, Weinstein & Numbers, LLP, and Foley & Lardner, LLP serve as special counsels. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Stinson, LLP and Berkeley Research Group, LLC serve as the committee's legal counsel and financial advisor, respectively. BPI INTERMEDIATE: Cliffwater Corporate Marks $1.4MM Loan at 84% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,440,000 loan extended to BPI Intermediate Holdings, Inc. to market at $224,867 or 16% 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 BPI Intermediate Holdings, Inc. The loan accrues interest at a rate of 12.17% per annum. The loan matures on December 11, 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 BPI Intermediate Holdings, Inc. BPI Intermediate Holdings, Inc. is a holding company that is part of the Bank of the Philippine Islands group. BURGESS BIOPOWER: Seeks to Extend Plan Exclusivity to August 11 --------------------------------------------------------------- Burgess BioPower, LLC, and Berlin Station, LLC, asked the U.S. Bankruptcy Court for the District of Delaware to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to August 11 and October 9, 2025, respectively. The Debtors claim that given the discretion afforded to the Court in determining "cause" and their substantial progress in these Chapter 11 Cases, including, but not limited to, the Debtors' entry into and the Court's approval of the Lender Settlement Agreement, the City Settlement, the NH Settlement, and the Operator-Manager Settlement Agreement as well as the filing and solicitation of the Plan and the Debtors' entry into the New Operator-Manager Agreements, the Debtors' submit that each of these factors have been met and, therefore, cause exists to extend the Exclusive Periods. First, this case is of a meaningful size and complexity. The Debtors have over $100 million in pre-petition secured debt, and needed to negotiate and obtain DIP financing at the beginning of the case. Over the course of the case, the Debtors continued to focus on soliciting potential buyers and/or plan proponents and negotiating with those entities, while, at the same time, negotiating and entering various settlements with parties. The Debtors' business and capital structure are sufficiently complex that these discussions have taken some time. Second, the Debtors and their professionals have made significant progress in moving the Chapter 11 Cases towards a successful completion. Since the Petition Date, the Debtors have, among other things: (i) obtained successful resolution of their dispute with Eversource; (ii) entered into new operational arrangements to enable them to sell power on a merchant basis; (iii) fully transitioned to merchant operations, (iv) solicited potential purchasers and plan sponsors; (v) complied with all their reporting obligations including filing their Schedules and Statements and monthly operating reports; (vi) obtained approval for their disclosure statement and solicited acceptances to their initial proposed plan; (vii) established bar dates and provided notice thereof to all parties; (viii) handled the various other tasks related to the administration of the Debtors' bankruptcy estates and the Chapter 11 Cases; (ix) reached settlement with major parties as set forth above; and (x) negotiated, filed and solicited acceptance of the Plan. Third, creditors will not be harmed by the extension of the Exclusive Periods. The Debtors are not seeking an extension of the Exclusive Periods to delay administration of the Chapter 11 Cases, but rather to allow the Debtors to continue to maximize the value of their estates and proceed through the plan confirmation process, including through the effective date of the Plan. The restructuring transactions contemplated in the Plan require regulatory approval and the extension of the Exclusive Periods will allow the Debtors to obtain said regulatory approvals to consummate the Plan. Co-Counsel for the Debtors: Chantelle D. McClamb, Esq. GIBBONS P.C. 300 Delaware Ave., Suite 1015 Wilmington, DE 19801 Tel: (302) 518-6300 Email: cmcclamb@gibbonslaw.com - AND - Robert K. Malone, Esq. Kyle P. McEvilly, Esq. GIBBONS P.C. One Gateway Center Newark, New Jersey 07102 Tel: (973) 596-4500 E-mail: rmalone@gibbonslaw.com kmcevilly@gibbsonlaw.com Co-Counsel for the Debtors: Alison D. Bauer, Esq. William F. Gray, Jr., Esq. Jiun-Wen Bob Teoh, Esq. FOLEY HOAG LLP 1301 Avenue of the Americas, 25th Floor New York, New York 10019 Tel: (212) 812-0400 Email: abauer@foleyhoag.com wgray@foleyhoag.com jteoh@foleyhoag.com - and - Kenneth S. Leonetti, Esq. Christian Garcia, Esq. FOLEY HOAG LLP 155 Seaport Boulevard Boston, Massachusetts 02210 Tel: (617) 832-1000 Email: ksl@foleyhoag.com cgarcia@foleyhoag.com About Burgess BioPower Burgess BioPower, LLC and its affiliates are renewable energy power companies that own and operate a 75-megawatt biomass-fueled power plant located on a 62-acre site in Berlin, New Hampshire. Berlin Station owns the facility and the facility site, and Burgess BioPower leases the facility pursuant to a long-term lease. Burgess BioPower also holds the necessary regulatory licenses for the operation of the facility. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-10235) on Feb. 9, 2024, with $10 million to $50 million in assets and $100 million to $500 million in liabilities. Dean Vomero, chief restructuring officer, signed the petitions. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Foley Hoag, LLP as general bankruptcy counsel; Gibbons P.C. as Delaware counsel; and SSG Capital Advisors, L.P., as investment banker. CANNABITION LLC: Taps Mushkin & Coppedge as Litigation Counsel -------------------------------------------------------------- Cannabition, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Mushkin & Coppedge as special litigation counsel. The firm will provide legal services including litigation proceedings of the claims filed by Solomon Group Entertainment LLC, MM Development Company and MA Royal LLC. Mushkin & Coppedge will also advise the Debtor on general business matters. The firm will be paid at these rates: Michael Mushkin, Esq. $575 Attorneys $350 to $575 Legal Assistants $75 to $205 The firm received an initial retainer in the amount of $10,000. Michael Mushkin, Esq., a partner at Mushkin & Coppedge, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Mushkin, Esq. Mushkin & Coppedge 6070 S Eastern Ave Suite 270 Las Vegas, NV 89119 Phone: (702) 454-3333 About Cannabition, LLC Cannabition LLC is an immersive cannabis museum located at 2548 W Desert Inn Rd, Suite 100, Las Vegas, NV 89109. The venue offers interactive exhibits and vibrant installations that explore cannabis culture. Cannabition is designed by Emmy Award-winning creative director David Korins and is part of the Planet 13 Entertainment Complex. Cannabition LLC in Las Vegas, NV, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Nev. Case No. 25-12424) on April 29, 2025, listing as much as $1 million to $10 million in both assets and liabilities. Andrew Laub as manager, signed the petition. CARLYON CICA CHTDA. serve as the Debtor's legal counsel. CAP-KSI HOLDINGS: Cliffwater Corporate Marks $1.8MM Loan at 62% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,868,476 loan extended to CAP-KSI Holdings, LLC to market at $714,692 or 38% 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 CAP-KSI Holdings, LLC. The loan accrues interest at a rate of 9.56% per annum. The loan matures on June 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 CAP-KSI Holdings, LLC CAP-KSI is an aftermarket collision automotive parts distribution company headquartered in South Plainfield, New Jersey. CHARTER SCHOOL: Seeks to Hire Epiq as Claims and Noticing Agent --------------------------------------------------------------- Charter School Capital Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Epiq Corporate Restructuring LLC as the official claims and noticing agent. Epiq will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. The firm will be paid at these hourly rates: Executive Vice President, Solicitation $180 Solicitation Consultant $180 Project Managers/Consultants/Directors $165 - $175 Case Managers $85 - $165 IT/Programming $30 - $75 In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, Epiq received a retainer of $10,000 from the Debtors. Kate Mailloux, a senior director at Epiq, 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: Kate Mailloux Epiq Corporate Restructuring LLC 777 3rd Ave., Fl. 12 New York, NY 10017 Telephone: (646) 282-2532 Email: kmailloux@epiqglobal.com About Charter School Capital Inc. Charter School Capital Inc. is a provider of funding to charter schools across the U.S. Charter School Capital Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11016) on June 8, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 billion and $50 billion each. The Debtor is represented by James R. Risener, III, Esq., Ethan H. Sulik, Esq., Brett Michael Haywood, Esq., and Aaron H. Stulman Esq. at Potter Anderson & Corroon LLP. CHEMPETITIVE GROUP: Cliffwater Marks $1.5MM Loan at 90% Off ----------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,569,019 loan extended to The Chempetitive Group to market at $163,888 or 10% 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 Chempetitive Group. The loan accrues interest at a rate of 10.32% per annum. The loan matures on March 22, 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 The Chempetitive Group The Chempetitive Group LLC provides advertising and marketing services. CHEMPETITIVE GROUP: Cliffwater Marks $446,000 Loan at 92% Off ------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $446,500 loan extended to The Chempetitive Group to market at $35,720 or 8% 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 Chempetitive Group. The loan accrues interest at a rate of 10.32% per annum. The loan matures on March 22, 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 The Chempetitive Group The Chempetitive Group LLC provides advertising and marketing services. CIRCAUTO BIDCO: Cliffwater Corporate Virtually Writes Off $78M Loan ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $78,678,206 loan extended to Circauto Bidco AB to market at $4,381,646 or 6% 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 Circauto Bidco AB. The loan accrues interest at a rate of 8.35% per annum. The loan matures on June 14, 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 Circauto Bidco AB Circauto BidCo AB is owned by Nordic Capital together with representatives from Autocirc's management, which has been growing through acquisitions and organic growth. CIRCAUTO BIDCO: Cliffwater Virtually Writes Off $243MM Loan ----------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $243,902,439 loan extended to Circauto Bidco AB to market at $23,680,540 or 10% 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 Circauto Bidco AB. The loan accrues interest at a rate of 8.35% per annum. The loan matures on June 14, 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 Circauto Bidco AB Circauto BidCo AB is owned by Nordic Capital together with representatives from Autocirc's management, which has been growing through acquisitions and organic growth. COCO SUSHI: Updates Unsecured Claims Pay; Files Amended Plan ------------------------------------------------------------ Coco Sushi, LLC, submitted a Third Amended Plan of Reorganization dated June 6, 2025. The Plan Proponent's financial projections show that the Debtor will have sufficient projected disposable income to make all payments under the Plan. The final Plan payment is expected to be paid on or before the expiration of 60 months from the Effective Date. This Plan proposes to pay Allowed Claims no less than the value of Coco Sushi's Projected Net Disposable Income for a period of 60 months. The Plan provides for 4 Classes of creditor claims (including priority, secured, and unsecured) and one Class of Equity interests. Class 2 consists of Allowed Secured Claims. The principal amount of Allowed Secured Claims (other than secured tax claims which will receive treatment with Class 1) will be determined pursuant to Section 506(a) of the Bankruptcy Code and receive the present day value of their respective Allowed Claims as follows: (a) interest only at five percent for the first 24 months starting on the Effective Date; and (b) amortized payments over 36 months bearing five percent interest per annum. Upon information and belief, the only creditors that hold Allowed Secured Claims in this case are U.S. Foods, Inc. (Claim No. 18) and Brodson Construction, Inc. (Claim No. 10). Class 3 consists of Allowed General Unsecured Claims. Only unsecured creditors with Allowed Priority Claims will receive a distribution under the Plan. The Reorganized Debtor will have insufficient revenue to make a distribution to Class 3. Class 3 is Impaired, presumed to reject and not entitled to vote. Class 5 consists of Allowed Claim of Debtor's Landlord, Frit Cocowalk Owner, LLC (the "Landlord"). The Landlord has filed proof of claim No. 7 1, wherein it asserts a repetition cure in the sum of $392,186.12. On the Effective Date, the underlying lease for the business premises (the "Lease") will be cured, assumed, and modified as follows: * Cure: The prepetition cure on the Lease shall be paid as follows: (a) on the Effective Date, Landlord will credit Debtor's unused tenant allowance ($199,700.00) to the partial satisfaction of the Cure; (b) the balance of $191,486.12 shall be paid in quarterly installments of $15,000 (January, April, July, October) until paid in full, subject to the following: (i) any balance due on the prepetition cure will be paid no later than 24 months from the Effective Date; (ii) Alexandra Ghersy and Jonas Millan will lend sufficient funds to the Reorganized Debtor to pay the cure in full upon the sale of their home and using the exempt proceeds thereof and grant the Landlord a lien on their home so that any unpaid balance of the Cure will be satisfied from the closing proceeds; and (iii) repayment of the foregoing loan shall be subordinated to payment in full by the Reorganized Debtor of all sums due under the Plan. On the Effective Date, all property of the Debtor not otherwise disposed of under the Plan, shall vest with the Reorganized Debtor. The Plan proposes to pay Allowed Claims to be paid under the Plan from Projected Net Disposable Income. A full-text copy of the Third Amended Plan dated June 6, 2025 is available at https://urlcurt.com/u?l=Sextme from PacerMonitor.com at no charge. Attorneys for the Debtor: Jacqueline Calderin, Esq. Agentis, PLLC 45 Almeria Avenue Coral Gables, FL 33134 Telephone: (305) 722-2002 Email: jc@agentislaw.com About Coco Sushi Coco Sushi, LLC, is a Japanese restaurant in Miami Fla., which conducts business under the name Sushi Garage. Coco Sushi filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-13421) on April 9, 2024, with up to $50,000 in assets and up to $10 million in liabilities. Aleida Martinez Molina, Esq., serves as Subchapter V trustee. Judge Laurel M. Isicoff oversees the case. Jacqueline Calderin, Esq., at Agentis PLLC, is the Debtor's legal counsel. COLLISION SP: Cliffwater Corporate Marks $1.9MM Loan at 23% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,944,604 loan extended to Collision SP Subco, LLC to market at $1,506,068 or 77% 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 Collision SP Subco, LLC. The loan accrues interest at a rate of 9.90% per annum. The loan matures on January 29, 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 Collision SP Subco, LLC Collision SP Subco, LLC is a provider of auto body collision repair services and automobiles components. COLLISION SP: Cliffwater Corporate Marks $1MM Loan at 85% Off ------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,081,545 loan extended to Collision SP Subco, LLC to market at $159,040 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 Loan to Collision SP Subco, LLC. The loan accrues interest at a rate of 9.79% per annum. The loan matures on January 29, 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 Collision SP Subco, LLC Collision SP Subco, LLC is a provider of auto body collision repair services and automobiles components. CONN'S INC: Unsecured Creditors Will Get 1% of Claims in Plan ------------------------------------------------------------- Conn's, Inc., and affiliates filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement for First Amended Joint Plan dated June 7, 2025. The Debtors in the Chapter 11 Cases were founded in 1890 as a small heating and plumbing company. The Company began selling home appliances out of its Beaumont store in 1937. From that single store, the Company grew to become a national retailer and e-commerce business with 553 corporate and dealer retail stores, 22 distribution and service centers and 6 corporate offices across the Southeast, Mid-Atlantic, and Southwest United States. The Company is headquartered in The Woodlands, Texas and, at the time of the Petition Date, employed approximately 3,800 people in 15 states. On November 4, 2024, the Debtors filed the Notice of First Amendment to the Stalking Horse Asset Purchase Agreement, which amended the Stalking Horse APA consistent with Section 9.3 thereof (the "Stalking Horse Amendment"). Specifically, the Stalking Horse Amendment: (1) provided for a consensual purchase price adjustment of $7.1 million to account for (a) the removal of non-performing loans (the "NPLs") included in the 2023 and 2024 ABS Securitizations from the schedules to the Stalking Horse APA; and (b) the addition of certain NPLs owned by the Debtors not previously included on the schedules; (2) provided for a second closing for the sale of certain NPLs included in the original schedules to the Stalking Horse APA that may not be available at the time of the first closing; (3) revised certain transition services obligations between the Debtors and Jefferson Capital; (4) provided for a post-closing servicing agreement between the Debtors and Jefferson Capital; and (5) revised certain definitions related to collections in the Stalking Horse APA. On November 6, 2024, the Court entered the Order (I) Authorizing the Sale of the Debtors' Assets, (II) Authorizing Assumption and Assignment of certain Executory Contracts and Unexpired Leases Related Thereto, and (III) Granting Related Relief (the "Sale Order"), approving entry into the Stalking Horse Amendment and the sale transactions contemplated thereby with Jefferson Capital. The Debtors have sold or are in the process of selling all or substantially all of their assets pursuant to section 363(f) of the Bankruptcy Code prior to confirmation of the Plan. Subsequent to confirmation, the Debtors intend to enter the next phase of these Chapter 11 Cases, which involves the wind-down of the Debtors and the monetization of any remaining assets or interests, with such proceeds to be distributed as set forth in the Plan. Class 6 consists of the General Unsecured Claims against the Debtors, including any Prepetition 3L Deficiency Claim. On the Effective Date, or as soon as reasonably practicable thereafter, except to the extent that a Holder of an Allowed General Unsecured Claim and the Debtors or the Distribution Trustee, as applicable, agree to less favorable treatment for such Holder, (i) each Holder of an Allowed General Unsecured Claim shall receive, in full and final satisfaction of such Claim, its pro rata share of the Distribution Trust Interests and (ii) each Holder of an Allowed Prepetition 3L Deficiency Claim shall receive, in full and final satisfaction of such Claim, its pro rata share of the Distribution Trust Interests on a ratable basis with all Holders of Allowed General Unsecured Claims. The allowed unsecured claims total $375,186,681. This Class will receive a distribution of 1% of their allowed claims. Class 6 is Impaired, and Holders of General Unsecured Claims are entitled to vote to accept or reject the Plan. The Debtors and the Plan Administrator, as applicable, shall fund distributions under the Plan with Cash on hand, including any amounts that may be owed by third parties on account of security deposits or refunds; proceeds from each of the sales under section 363(f) of the Bankruptcy Code of all or substantially all of the Debtors' assets (the "Sale Transactions"); proceeds from the De Minimis Sale Transactions; proceeds from the monetization of the DIP Collateral and Prepetition Collateral following the Effective Date; proceeds from the monetization of the Remaining Real Property; proceeds, if any, from prosecution or settlement of the Retained Causes of Action other than Retained Causes of Action against Brian Kahn and his relevant affiliates; and proceeds from any other assets of the Debtors' estates, including any tax credits or refunds, all in accordance with the terms of the Plan. A full-text copy of the Disclosure Statement dated June 7, 2025 is available at https://urlcurt.com/u?l=DOVPXv from Epiq Corporate Restructuring, LLC, claims agent. The Debtors' Counsel: Duston McFaul, Esq. Jeri Leigh Miller, Esq. Maegan Quejada, Esq. SIDLEY AUSTIN LLP 1000 Louisiana Street, Suite 6000 Houston, Texas 77002 Tel: (713) 495-4500 Fax: (713) 495-7799 Email: dmcfaul@sidley.com jeri.miller@sidley.com mquejada@sidley.com - and - William E. Curtin, Esq. Michael Sabino, Esq. 787 Seventh Avenue New York, New York 10019 Tel: (212) 839-5300 Fax: (212) 839-5599 Email: wcurtin@sidley.com msabino@sidley.com About Conn's, Inc. Conn's, Inc., is a retailer of home goods and furniture in The Woodlands, Texas. Conn's and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-33357) on July 23, 2024. In its petition, Conn's reported $1 billion to $10 billion in both assets and liabilities. Judge Jeffrey P. Norman oversees the cases. The Debtors tapped Duston K. McFaul, Esq., at Sidley Austin, LLP as legal counsel; Houlihan Lokey, Inc. as investment banker; and BRG Capital Advisors, LLC, as interim management services provider. Epiq Corporate Restructuring, LLC, is the Debtors' notice and claims agent. CONSOLIDATED BURGER: Taps Merlin Law as Special Litigation Counsel ------------------------------------------------------------------ Consolidated Burger Holdings, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Florida to employ Merlin Law Group, P.A. as special litigation counsel. Merlin Law will assist the Debtors with the continued prosecution of existing insurance claims and causes of action against property insurers for covered losses under relevant insurance policies for the benefit of the Debtors. More specifically, to investigate, prepare, commence, negotiate, settle and prosecute, as applicable, the Insurance Claims. Merlin Law shall be entitled to receive a contingency fee pursuant to the following schedule: (i) 10 percent contingency fee of the gross recovery of all new monies acquired prior to suit being filed, plus costs; (ii) 25 percent contingency fee of the gross recovery of all new monies acquired after suit is filed, plus costs; (iii) 40 percent of the gross recovery of all new sums acquired from a bad faith cause of action, plus costs; and (iv) An additional 5 percent contingency fee of the gross recovery will be owed if the matter proceeds to appeal. Keona Williams, Esq., at Merlin Law Group, assures the court that the firm does not represent any interest adverse to the Debtor and its bankruptcy estate. The firm can be reached through: Keona Williams, Esq. Merlin Law Group, P.A. 777 S. Harbour Island Blvd. Suite 950 Tampa, FL 33602 Office: (813) 229-1000 About Consolidated Burger Holdings, LLC Consolidated Burger Holdings LLC and affiliates are among the largest franchisees of Burger King, the world's second-largest fast food hamburger chain. As of the Petition Date, they operated 57 Burger King restaurants across prime markets in Florida and Southern Georgia. These restaurants are informally grouped into three geographic clusters: (i) Tallahassee and Southern Georgia, comprising 18 locations; (ii) South Florida, with 19 locations; and (iii) the Florida Panhandle, with 20 locations. Debtor Consolidated Holdings is the sole member and 100 percent equity owner of both Consolidated A and Consolidated B. Consolidated Burger Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-40162) on April 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $50 million and $100 million each. Honorable Bankruptcy Judge Karen K. Specie handles the case. The Debtor is represented by Paul Steven Singerman, Esq., Jordi Guso, Esq., Christopher Andrew Jarvinen, Esq., and Brian G. Rich, Esq. at BERGER SINGERMAN LLP. DEVELOPMENT SPECIALISTS, INC. is the Debtors' Restructuring Advisor. PEAK FRANCHISE CAPITAL LLC is the Debtors' Investment Banker. OMNI AGENT SOLUTIONS, INC. is the Debtors' Notice & Claims Agent. CYPRESSWOOD SPRING: Court Extends Cash Collateral Access to July 7 ------------------------------------------------------------------ Cypresswood Spring Memory Care, LLC received second interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral to pay its operating expenses. The order penned by Judge Mark Mullin authorized the Debtor's interim use of cash collateral through July 7 in accordance with its monthly budget, which projects total operational expenses of $162,469.55 for June. PSF I Cypresswood, LLC, a secured lender, asserts pre-bankruptcy liens on substantially all of the Debtor's assets, including cash and accounts. As protection, the lender was granted post-petition liens on the Debtor's assets (excluding Chapter 5 claims) and the proceeds thereof. In addition, the Debtor was ordered to keep the secured lender's collateral fully insured. The Debtor's authority to use cash collateral terminates upon dismissal or conversion of its Chapter 11 case; the appointment of a trustee or examiner; cessation of operations; non-compliance with or default by the Debtor of the terms of the order; the granting of claim or lien to another creditor that is equal or superior in priority; or the lifting of the automatic stay to allow any creditor to proceed against any asset of the Debtor valued at $75,000 or more. A final hearing is scheduled for July 7. About Cypresswood Spring Memory Care Cypresswood Spring Memory Care, LLC, doing business as Autumn Leaves of Cypresswood, operates a 54-bed, purpose-built community in Spring, Texas that provides specialized residential care for people with Alzheimer's disease and other dementias. The facility is part of family-owned Autumn Leaves Memory Care, which runs similar communities in Texas and Illinois. Cypresswood sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41420) on April 23, 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 Edward L. Morris handles the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC is the Debtor's legal counsel. Cypresswood Spring Memory Care, LLC, as secured lender, is represented by: Kevin M. Lippman, Esq. Munsch Hardt Kopf & Harr, P.C. 500 N. Akard Street, Suite 4000 Dallas, TX 75201-6659 Telephone: (214) 855-7565 Facsimile: (214) 978-5335 klippman@munsch.com D AND B PHARMACY: Hires Penachio Malara LLP as Counsel ------------------------------------------------------ D and B Pharmacy Corporation, d/b/a Paul's Pharmacy seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Penachio Malara, LLP as counsel. The firm will render these services: (a) assist in the administration of the Debtor's Chapter 11 proceeding, the preparation of operating reports and complying with applicable law and rules; (b) review claims and resolve claims which should be disallowed; and (c) assist in a sale and/or reorganizing and confirming a Chapter 11 plan or implementing an alternative exit strategy. The firm will be paid at these rates: Anne Penachio, Attorney $525 per hour Francis Malara, Attorney $450 per hour Paralegal $225 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $15,000 inclusive of the filing fee from Paul Roldan, the Debtor's principal. Ms. Penachio 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: Anne Penachio, Esq. Penachio Malara, LLP 245 Main Street, Suite 450 White Plains, NY 10601 Telephone: (914) 946-2889 About D and B Pharmacy Corporation d/b/a Paul's Pharmacy D and B Pharmacy Corporation, operating as Paul's Pharmacy, provides prescription services, over-the-counter medications, and medical equipment at its location in South Salem, New York. The pharmacy serves the Vista, Lewisboro, and surrounding communities, offering additional services such as FedEx Drop, NYC Lotto, lab testing, and UPS shipping. It also carries gifts and home goods, emphasizing personalized customer care and accepting most major insurance plans. D and B Pharmacy Corporation sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-22402) on May 9, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Judge Kyu Young Paek handles the case. The Debtor is represented by Anne Penachio, Esq. at Penachio Malara, LLP. DB ASSETS: Seeks to Hire Kelley Law PLLC as Counsel --------------------------------------------------- DB Assets, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Kelley Law PLLC as counsel. The firm's services include: a. providing legal advice and services regarding the Debtor's bankruptcy case and providing substantive and strategic advice on how to accomplish the Debtor's goals in connection with the prosecution of this chapter 11 case; b. advising the Debtor of its obligations, duties, and rights as a debtor in possession; c. preparing documents to be filed with the Court; d. appearing in Court and at any meeting with the U.S. Trustee and any meeting of creditors on behalf of the Debtor; e. performing various services in connection with the administration of this Chapter 11 case, including, without limitation, (i) preparing motions, certifications of counsel, notices of fee applications, motions and hearings, and hearing binders of documents and pleadings, (ii) monitoring the docket for filings s, (iii) monitoring pending applications, motions, hearing dates, and other matters and the deadlines associated therewith, (iv) handling inquiries from creditors, contract counterparties and counsel to parties-in-interest regarding pending matters and the general status of this chapter 11 case; and (v) providing notice to parties in interest in compliance with the Court's direction; f. interacting and communicating with the Court's chambers and the Court's Clerk's Office; g. preparing, reviewing, revising, filing, and prosecuting motions and other pleadings related to contested matters, executory contracts and unexpired leases, asset sales, plan and disclosure statement issues, and claims administration and resolving objections and other matters relating thereto; and h. performing all other services necessary to prosecute Debtor's chapter 11 case to a successful conclusion. The firm will be paid at these rates: Charles N. Kelley, Jr., Partner $450 per hour Tammy A. Winkler, Paralegal $165 per hour Prior to the Petition Date, Chukwudi Orubele, the Debtor's sole owner made retainer payments to the firm totaling $8,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Kelley, Jr. 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: Charles N. Kelley, Jr., Esq. Kelley Law LLC PO Box 2758 Gainesville, GA 30503 Tel: (770) 531-0007 Email: charles@charleskelley.law About DB Assets, LLC DB Assets LLC engages in residential building construction, focusing on the development of new single-family and multifamily housing. It also undertakes remodeling and renovation projects for existing homes. DB Assets LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55062) on May 5, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated Liabilities between $500,000 to $1 million. The Debtor is represented by Charles N. Kelley, Jr., Esq. at KELLEY LAW LLC. DOCUDATA SOLUTIONS: Seeks to Extend Plan Exclusivity to Sept. 29 ---------------------------------------------------------------- Docudata Solutions, LC, and its debtor affiliates asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to September 29 and November 28, 2025, respectively. The Debtors explain that the application of these factors to the facts and circumstances of the Chapter 11 Cases demonstrates that the requested extension of the Exclusive Periods is both appropriate and necessary. First, the size and complexity of the issues attendant to these cases warrants approval of the requested relief. In this regard, the Debtors have over $1 billion in funded debt and a complex capital structure that includes multiple securitization facilities. The complexities of the Chapter 11 Cases were also evidenced by the litigation with certain minority noteholders that surrounded approval of the DIP Motion on a final basis. Second, termination of the Exclusive Periods would adversely impact the Debtors' efforts to preserve and maximize the value of their estates and progress the Chapter 11 Cases as they would potentially face the prospect of a competing plan in the event that the existing Plan was not confirmed on the currently anticipated timeline. Granting the requested extensions will thus ensure that the Debtors can work towards confirmation of the Plan without the distraction, cost and delay of a potential competing plan process. Third, the progress that the Debtors have made in the Chapter 11 Cases, which, as noted above, has included, entering into the Plan Support Agreement, obtaining postpetition financing through the entry of the Final DIP Order, obtaining conditional approval of the Disclosure Statement and obtaining a date for the Confirmation Hearing, negotiating and filing the proposed Plan and commencing solicitation of votes with respect to same, evidences satisfaction of the third and fourth factors. Fourth, the Debtors do not seek the extension of the Exclusive Periods as a means to exert pressure on the relevant parties in interest. As discussed above, the Debtors have made progress with their major constituents, resulting in the entry into the Plan Support Agreement and the filing of the Plan and the Confirmation Hearing is scheduled to commence in approximately two weeks. The Debtors seek the requested extension of the Exclusive Periods out of an abundance of caution simply to ensure the progress made to date is not upended by a potential loss of their Exclusive Periods in the event of unexpected delay. Finally, the Debtors continue to make timely payments on their undisputed postpetition obligations. Accordingly, the seventh factor weighs in favor of extending the Exclusive Periods. Co-Counsel for the Debtors: Timothy A. Davidson II, Esq. Ashley L. Harper, Esq. Philip M. Guffy, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston TX 77002 Tel: (713) 220-4200 Email: taddavidson@hunton.com ashleyharper@hunton.com pguffy@hunton.com -and- Ray C. Schrock, Esq. Alexander W. Welch, Esq. Hugh Murtagh, Esq. Adam S. Ravin, Esq. Jonathan J. Weichselbaum, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 Tel: (212) 906-1200 Email: ray.schrock@lw.com alex.welch@lw.com hugh.murtagh@lw.com adam.ravin@lw.com jon.weichselbaum@lw.com About Docudata Solutions Docudata Solutions, LC, together with their Debtors and non-Debtor affiliates (the Company), are a global leader in business process automation. Leveraging their worldwide presence and proprietary technology, the Company offers high-quality payment processing and digital transformation solutions across the Americas and Asia, helping clients enhance efficiency and lower operational costs. The Company has worked with over 60% of the Fortune 100 companies. They provide essential services to top global banks, financial institutions, healthcare payers and providers, and major global brands. These services include finance and accounting solutions, payment technologies, healthcare payer and revenue cycle management, hyper-automation and remote work solutions, enterprise information management, integrated communications and marketing automation, as well as digital solutions for large enterprises. Docudata Solutions and its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 25-90023) on March 3, 2025. In the petitions signed by Matt Brown, interim chief financial officer, the Debtors disclosed $500 million to $1 billion in estimated assets and $1 billion to $10 billion in estimated liabilities. Judge Christopher M. Lopez oversees the cases. The Debtors tapped Hunton Andrews Kurth LLP and Latham & Watkins LLP, Houlihan Lokey, Financial Advisors, Inc. as investment banker, AlixPartners, LLP as financial advisor. Omni Agent Solutions, Inc. is the Debtors' claims, noticing and solicitation agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. DYNASTY TANG: Seeks Subchapter V Bankruptcy in California --------------------------------------------------------- On June 18, 2025, Dynasty Tang LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California. According to court filing, the Debtor reports between 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 Dynasty Tang LLC Dynasty Tang LLC operates and manages multi-unit residential rental properties. Dynasty Tang LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-30481) on June 18, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Arasto Farsad, Esq. at FARSAD LAW OFFICE, P.C. EASTERN COLORADO: Plan Exclusivity Period Extended to August 13 --------------------------------------------------------------- Judge Joseph G. Rosania, Jr. of the U.S. Bankruptcy Court for the District of Colorado extended Eastern Colorado Seeds, LLC and affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to August 13 and October 12, 2025, respectively. As shared by Troubled Company Reporter, Seeds and its affiliate companies operate as a full-service seed distribution and production company, with a portfolio of quality grain, forage, reclamation, and specialty seeds to meet the many needs of today's producers. Applying the pertinent factors demonstrates that a 3-month extension of the exclusive periods is appropriate: * the size and complexity of the chapter 11 matters. Debtors' intertwined operations are complex. Because of the complexity of Debtors' operations, Debtors anticipate proposing a joint plan. * the necessity of sufficient time to allow the debtor to negotiate a plan of reorganization. Debtors have taken steps to normalize operations by obtaining approval to use cash collateral, negotiating adequate protection payments, selling property no longer necessary for operations, and exploring potential paths forward. These events are an essential predicate to plan negotiations. In addition, Debtors note that government relief payments have historically been an important source of revenue. The amount and timing of such payments generally have some uncertainty, but for 2025 the uncertainty has increased significantly. Debtors anticipate that the 2025 relief programs and corresponding payments are likely to be resolved before the end of August 2025. * the existence of good faith progress toward reorganization. As described, Debtors have made good faith efforts towards reorganizing during the case, including by regaining control of their assets, normalizing operations, selling property no longer required for operations, and adjusting operations to survive without a line of credit. Debtors require additional time to formulate a confirmable plan and the projections to support the plan. Counsel for Interested Party, ECS Farms, LLC, Clay and Christine Smith, and Pinnacol Holdings, LLC: Jeffrey A. Weinman, Esq. Jordan Factor, Esq. Katharine S. Sender, Esq. 1600 Stout Street, Suite 1900 Denver, Colorado 80202 (303) 534-4499 Email: JWeinman@allenvellone.com JFactor@allen-vellone.com KSender@allen-vellone.com Attorneys for Eastern Colorado Seeds, LLC: Andrew D. Johnson, Esq. Alice A. White, Esq. Gabrielle G. Palmer, Esq. 600 17th Street, Suite 425 North Denver, Colorado 80202 Ph: (720) 457-7059 Email: ajohnson@OFJlaw.com awhite@OFJlaw.com gpalmer@OFJlaw.com About Eastern Colorado Seeds Eastern Colorado Seeds, LLC is a full-service seed company offering a wide range of agricultural seeds, including grains, forages, reclamation seeds, and specialty products like pulses, millets, and sunflowers. With locations in Burlington, CO, Dumas, TX, and Clovis, NM, the company ensures efficient delivery and a consistent supply of high-quality products to its customers. The knowledgeable team at Eastern Colorado Seeds specializes in crop advisory, precision technology, and livestock nutrition. Eastern Colorado Seeds LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No.: 25-10244) on January 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Joseph G Rosania Jr. handles the case. The Debtor is represented by Andrew W. Johnson, Esq. at Onsager Fletcher Johnson LLC. EAZY-PZ LLC: Seeks Chapter 11 Bankruptcy in Colorado ---------------------------------------------------- On June 18, 2025, Eazy-PZ LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filing, the Debtor reports $3,881,257 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Eazy-PZ LLC 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. Eazy-PZ LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-13720) on June 18, 2025. In its petition, the Debtor reports total assets of $1,019,774 and total liabilities of $3,881,257. Honorable Bankruptcy Judge Thomas B. Mcnamara handles the case. The Debtors are represented by Aaron J. Conrardy, Esq. at WADSWORTH GARBER WARNER CONRARDY, P.C. ELITA 7 LLC: Court Extends Cash Collateral Access to Sept. 18 ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Massachusetts issued an order extending Elita 7, LLC and Victoria Light, LLC's authority to use cash collateral until September 18. The court authorized the Debtors to use the cash collateral of DMT SPE I, LLC and other secured lenders in the ordinary course of business in accordance with their budget. As protection for any diminution in the value of their collateral, the secured lenders were granted replacement liens on and security interests in the Debtors' assets to the same extend, priority and enforceability as their pre-bankruptcy liens. The replacement liens do not apply to Chapter 5 avoidance actions. In addition, the Debtors will continue to make monthly payments of $30,000 to DMT SPE I, the primary secured lender, as further protection. The next hearing is scheduled for September 18. Elita 7 and Victoria Light are liable to DMT SPE I on a loan made to them in July in the original principal amount of $6.1 million. Meanwhile, the Debtors have given security interest in receivables or sales of future receivables to other creditors including Capybara Capital LLC, Dependence Platinum, Forward Financing, EN OD Capital, Stage Advance LLC, and Unique Funding Solutions, LLC. The lenders' cash collateral consists of cash accounts, receivables and inventory. The value of the cash collateral is estimated at $168,000, according to the Debtor's cash collateral motion filed on December 23, 2024. About Elita 7 and Victoria Light Elita 7, LLC operates a 60-bed Rest Home located at 16 Marble Street, Worcester, Mass. Elita 7 and its affiliate, Victoria Light, LLC, filed Chapter 11 petitions (Bankr. D. Mass. Lead Case No. 24-41303) on December 20, 2024. At the time of the filing, the Debtors reported $1 million to $10 million in both assets and liabilities. Judge Elizabeth D. Katz oversees the cases. John O. Desmond, Esq., is the Debtors' legal counsel. Secured lender DMT SPE I, LLC is represented by: Douglas K. Clarke, Esq. Riemer & Braunstein, LLP 100 Cambridge Street, 22nd Floor Boston, MA 02114-2527 Phone: (617) 880-3485 Fax: (617) 692-3485 Email: dclarke@riemerlaw.com EVERBRIDGE HOLDINGS: Cliffwater Marks $5.5MM Loan at 61% Off ------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,555,556 loan extended to Everbridge Holdings, LLC to market at $2,168,863 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 Everbridge Holdings, LLC. The loan accrues interest at a rate of 9.29% per annum. The loan matures on July 2, 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 Everbridge Holdings, LLC Everbridge Holdings, LLC provides the most complete, end-to-end suite of solutions for managing physical and digital critical events. F & B NEGOTIATIONS: Court Rules on Florida Property Sale Issue -------------------------------------------------------------- In the adversary proceeding captioned as F & B NEGOTATIONS, LLC, BENJAMIN G. MARTIN, Plaintiffs, v. JONATHAN YOB, 4300 CLARCONA OCOEE ROAD, LLC, FISHER AUCTION COMPANY, 1 OAK REAL ESTATE LLC, JAY MANAGEMENT CORP., 2726 6TH AVENUE W, LLC, Defendants, Adv. No. 8:24-ap-00207-BAJ (Bankr. M.D. Fla.), Judge Jason A. Burgess of the United States Bankruptcy Court for the Middle District of Florida ruled on the issue with respect to Jonathan Yob's failure to close on the purchase of the property he acquired at F & B Negotiations, LLC's bankruptcy auction. This Proceeding came before the Court for a trial on Jan. 16, 2025, on the Complaint brought by F & B Negotiations, LLC and Benjamin G. Martin against Mr. Yob, 4300 Clarcona Ocoee Road, LLC, and Jay Management Corp.; as well as Fisher Auction Company and 2726 6th Avenue W, LLC. On April 19, 2023, F&B filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code. As part of its reorganization process, F&B sold various real estate assets, including property located at 2726 6th Avenue W., Bradenton, FL 34205. In January 2024, the Court approved the employment of Fisher Auction as the broker/auctioneer for F&B. Fisher Auction distributed marketing materials to solicit potential buyers for the auction of the Property. Based upon a review of the marketing materials, Mr. Yob was under the mistaken assumption that the Property was vacant. On Feb. 12, 2024, the Court approved a sale of the Property pursuant to Sec. 363 of the Bankruptcy Code. On March 28, 2024, the Court held an online auction, and the Yob entities emerged as the high bidder. Prior to the auction, prospective bidders were permitted to inspect the Property either upon request or at scheduled open houses. Mr. Yob, however, chose not to inspect the Property. In early April of 2024, F&B and the Yob entities entered into a purchase and sale agreement for the Property. The Court approved the sale of the Property, based on the terms of the PSA, which provided that the closing would occur on May 9, 2024. On April 25, 2024, 4300 Clarcona assigned its purchase rights to 2726 6TH Ave W, LLC, which is another entity owned by Mr. Yob. The day prior to the scheduled closing, counsel for Fisher Auction sent an e-mail to Mr. Yob that efforts to reach him about the closing had been unsuccessful. Due to Mr. Yob's unavailability, the closing did not occur on May 9, 2024, and was consensually rescheduled by the parties to May 23, 2024. When the second scheduled closing failed to occur an attorney for F&B sent a notice of default via e-mail to the Yob entities stating that failure to cure the default would result in the Yob entities forfeiting its deposit of $74,900. In response, Mr. Yob's attorney alleged that F&B was in default because tenants residing in the Property were veterans, and F&B failed to furnish proof that the tenants were evicted or had vacated the Property. The Plaintiffs initiated this Proceeding alleging breach of a purchase and sale agreement by Yob for failing to close on the Property. At trial, Mr. Yob testified that his desire to help veterans contributed to his unwillingness to close. The PSA clearly states under Section 6(b)(5) that the Buyer takes the property subject to "the general printed exceptions contained in an owner's title insurance policy," and the Title Commitment contains exceptions for "rights or claims of parties in possession" and "existing unrecorded leases." Taken together, the Court finds these provisions support a finding that F&B was under no obligation to transfer title free and clear of the unwritten leases, regardless of whether or not the tenants vacated prior to closing. Because the Court finds that the PSA is unambiguous, the clear terms of the PSA must be enforced. The Yob entities defaulted by failing to close. Therefore, as clearly set forth in paragraph 9.a. of the PSA, F&B is entitled to retain the $74,900 deposit as liquidated damages. The Court finds that Mr. Yob's reliance on the language contained in the PSA under paragraph 6.b is misplaced because it ignores the controlling, contractual language that follows. Therefore, it is unnecessary to address Mr. Yob's argument regarding the interplay between Secs. 363(b), (f) and Sec. 365(h). Mr. Yob is a sophisticated investor in the real estate market. As such, the Court finds that there is no equitable remedy that would relieve him of his legal obligations. Mr. Yob's reasons for the Yob entities' failure to close on the Property due to an illness and his concerns over the tenant situation, are insufficient to relieve them of their contractual obligation. The Court concludes the PSA required F&B to furnish clear title to the Yob entities, with the following exceptions: (1) claims of parties in possession; and (2) existing unrecorded leases. According to the Court, Mr. Yob's incorrect assumption that the Property was vacant based on the marketing materials is not a legitimate basis for the Yob entities' failure to close because: (i) Mr. Yob did not avail himself the opportunity to inspect the Property prior to the auction, and (ii) the marketing materials expressly disclosed that the Property was leased. The Court will hold a separate hearing to consider an award of attorney's fees. The PSA provides in Section 18 that the non-prevailing party will be liable for the reasonable attorney's fees of the prevailing party. The Court will, however, consider the reasonableness of the attorney's fees in light of F&B's failure to furnish the Yob entities with relevant explanations as to the tenant situation and documentation until the eve of trial. A copy of the Court's Findings of Fact and Conclusions of Law dated June 11, 2025, is available at https://urlcurt.com/u?l=mK8S7b from PacerMonitor.com. About F & B Negotiations F & B Negotiations, LLC, a company in Lakewood Ranch, Fla., filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 23-01532) on April 19, 2023, with as much as $1 million to $10 million in both assets and liabilities. David Fernandez, managing member, signed the petition. Judge Roberta A. Colton oversees the case. The Law Offices of Benjamin Martin serves as the Debtor's bankruptcy counsel. FIBRE-TECH INC: Court Extends Cash Collateral Access to July 24 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division issued a second interim order authorizing Fibre-Tech, Inc. to use cash collateral through July 24. The second interim order authorized the Debtor to use cash collateral, which consists of cash, deposit accounts, accounts receivable, and business proceeds in line with its budget. The budget projects total monthly operational expenses of $45,629.73. Secured lenders, including Whitaker Oil Company and the U.S. Small Business Administration will be granted a replacement lien on collateral in which they held a security interest and lien as of the petition date, with the same validity, priority and extent that they held as of the petition date. In addition, the Debtor was ordered to keep the collateral insured as further protection to the lenders. The next hearing is set for July 24. The Debtor's cash collateral consists of cash in the amount of $25,286.60, which is comprised of cash on hand and cash on deposit at Hancock Whitney Bank; accounts receivable in the amount of $47,742.32; and revenues, according to the Debtor's cash collateral motion filed on April 9. On average, the Debtor generates approximately $87,732 in gross receipts per month. SBA asserts a debt in connection with a loan in the amount of $137,713.83. Meanwhile, Whitaker Oil Company asserts a debt in the amount of $3,452.72. Whitaker asserts a security interest in all assets of the Debtor in connection with the purchase of styrene monomer. Fibre-Tech Inc. Fibre-Tech, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02205) on April 9, 2025, with $500,001 to $1 million in assets and $1,000,001 to $10 million in liabilities. Judge Roberta A. Colton presides over the case. Alberto F. Gomez, Jr., Esq. at Johnson Pope Bokor Ruppel & Burns, LLP represents the Debtor as legal counsel. FINGERPAINT MARKETING: Cliffwater Marks $1.5MM Loan at 45% Off -------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,546,934 loan extended to Fingerpaint Marketing, Inc. to market at $848,481 or 55% 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 Fingerpaint Marketing, Inc. The loan accrues interest at a rate of 9.92% per annum. The loan matures on December 30, 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 Fingerpaint Marketing, Inc. Fingerpaint Marketing, now part of Fingerpaint Group, is a healthcare-focused marketing and advertising agency. FINGERPAINT MARKETING: Cliffwater Virtually Writes Off $2MM Loan ---------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,016,130 loan extended to Fingerpaint Marketing, Inc. to market at $44,003 or 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 Fingerpaint Marketing, Inc. The loan accrues interest at a rate of 13.75% per annum. The loan matures on December 30, 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 Fingerpaint Marketing, Inc. Fingerpaint Marketing, now part of Fingerpaint Group, is a healthcare-focused marketing and advertising agency. FLY7 INSTALLATIONS: Unsecureds to Get 12 Cents on Dollar in Plan ---------------------------------------------------------------- Fly7 Installations LLC filed with the U.S. Bankruptcy Court for the Eastern District of Virginia a Plan of Reorganization for Small Business. The Debtor is a Limited Liability Corporation formed under the laws of the Commonwealth of Virginia. Since July 8, 2020, the Debtor has been in the business of a professional delivery and installation company specializing in appliance logistics and last-mile services. Due to the high interest and weekly repayment demands of that initial Merchant Cash Advance (MCA) loan, it was forced to take on additional hard money loans to stay afloat. This cycle became unsustainable and led to financial strain. Since filing for bankruptcy, the Debtor has been able to restructure and eliminate the burden of high-interest debt, which has allowed us to return to profitability. It has streamlined operations and renewed focus have positioned Fly7 Installations to grow strategically, explore new partnerships, and maintain long term financial stability without the need for predatory lending. Allowed non-priority unsecured claims shall be paid pro rata from any distribution remaining after disbursement to allowed secured and priority claims. Estimated distribution is approximately 12%. The dividend percentage may vary depending on actual claims filed. If this case were liquidated under Chapter 7, the debtor(s) estimate that unsecured creditors would receive a dividend of approximately 0%. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $1,467.00 (Monthly). The final Plan payment is expected to be paid on July 15, 2028. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 12 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured creditors. The debtor will make quarterly disbursements on a prorata basis of $4,401.00 for a period of 3 years, resulting in a total of 12 disbursements. The first 3 disbursements will be to administrative claims and the final 9 disbursements will be to the unsecured claims. The disbursements to unsecured claims will be on October 15, 2025, January 15, 2026, April 15, 2026, July 15, 2026, October 15, 2026, January 15, 2027, April 15, 2027, July 15, 2027, October 15, 2027, January 15, 2028, April 15, 2028, and July 15, 2028. The members of this class are: Internal Revenue Service, American Express, Blade Funding, Chase, LG Funding, LiteFund/Celtic Bank, and Finvest. This Class is unimpaired. Class 4 consist of Equity security holders of the Debtor. Upon confirmation of the Plan, the Debtor's interest in all of its assets shall revest in the Debtor and will not be subject to the claim of any credits, except confirmation of this Plan will not effect he rights or security interest of Northeast Bank. Jada Hamlett, the sole owner, will not receive any disbursements during the 3-year repayment period other than her salary as provided for in the budget. After the Effective Date, Fly7 LLC shall continue to operate as usual under the management of its sole member - Jada Hamlett. Payments under the Plan will be made with the Disposable Income of the Debtor/Reorganized Debtor. On the Effective Date, other Estate property shall revest in the Reorganized Debtor, subject only to the Lien of Northeast Bank, but otherwise free and clear of all other liens, claims, interests, and encumbrances. In furtherance of the implementation of the Plan, absent further order of this Court, all other Estate property revesting in the Reorganized Debtor shall be used in accordance with the terms of this Plan and shall not be subject to garnishment, attachment, and/or other similar processes. A full-text copy of the Plan of Reorganization dated June 6, 2025 is available at https://urlcurt.com/u?l=4VmO70 from PacerMonitor.com at no charge. About Fly7 Installations Fly7 Installations, LLC has been in the business of a professional delivery and installation company specializing in appliance logistics and last-mile services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-70482) on March 8, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Carolyn Anne Bedi, Esq. at Bedi Legal, P.C. represents the Debtor as legal counsel. FRANCIS FUNERAL: Seeks Subchapter V Bankruptcy in Pennsylvania -------------------------------------------------------------- On June 2, 2025, Francis Funeral Home Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Francis Funeral Home Inc. 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. Francis Funeral Home Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-12439) on June 2, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Ashely M. Chan handles the case. The Debtors are represented by David B. Smith, Esq. at SMITH KANE HOLMAN, LLC. FULLER INVESTMENT: Hires Moon Wright & Houston as Counsel --------------------------------------------------------- Fuller Investment Group, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to employ Moon Wright & Houston, PLLC as bankruptcy counsel. The firm's services include: a. providing legal advice with respect to its powers and duties as debtor in possession in the continued operation of its business affairs and management of its properties; b. negotiating, preparing, and pursuing confirmation of a Chapter 11 plan and approval of a disclosure statement (if applicable), and all related reorganization agreements and/or documents; c. preparing necessary applications, motions, answers, orders, reports, and other legal papers on behalf of the Debtor; d. representing the Debtor in litigation arising from or relating to the bankruptcy estate; e. appearing in court to protect the interests of the Debtor; and f. performing all other legal services for the Debtor that may be necessary and proper in the Chapter 11 proceeding. The firm will be paid at these rates: Richard S. Wright $575 per hour Andrew T. Houston $550 per hour Caleb Brown $375 per hour Shannon L. Myers (Paralegal) $185 per hour Jaime Schaedler (Assistant) $150 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Richard S. Wright, Esq., a partner at Moon Wright & Houston, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Richard S. Wright Moon Wright & Houston, PLLC 212 N. McDowell Street, Suite 200 Charlotte, NC 28204 Telephone: (704) 944-6560 Facsimile: (704) 944-0380 Email: rwright@mwhattorneys.com About Fuller Investment Group, LLC Fuller Investment Group LLC, doing business as Amodernary Furniture Designs, is a luxury modern furniture retailer based in Charlotte, North Carolina. Founded in 2017, the Company offers a curated selection of contemporary furniture, lighting, and accessories for residential and commercial spaces. It operates two showrooms in Charlotte and provides interior design services to clients. Fuller Investment Group LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Case No. 25-30505) on May 18, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Ashley Austin Edwards handles the case. The Debtors are represented by Richard S. Wright, Esq. at MOON WRIGHT & HOUSTON, PLLC. GIULIANI CATTLE: Hires Robert C. Newark III as Counsel ------------------------------------------------------ Giuliani Cattle Company seeks approval from the U.S. Bankruptcy Court for the Eastern District of Oklahoma to employ Robert C. Newark, III as counsel. The firm will render these services: a. assist, advise and represent the Debtor relative to the administration of the Chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these rates: Robert C. Newark, III $400 per hour Paralegals and Legal Assistants $100 per hour The firm will be paid a retainer in the amount of $10,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert C. Newark, III, Esq. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert C. Newark, III, Esq. 1341 W. Mockingbird Lane, Suite 600W Dallas, TX 75247 Tel: (866) 230-7236 Fax: (888) 316-3398 About Giuliani Cattle Company Giuliani Cattle Company, filed a Chapter 11 bankruptcy petition (Bankr. D. Okla. Case No. 25-80424) on May, 19, 2025. The Debtor hires Robert C. Newark, III as counsel. GLOBAL BANK: Moody's Alters Outlook on Ba1 Deposit Rating to Stable ------------------------------------------------------------------- Moody's Ratings has affirmed all ratings and assessments assigned to Global Bank Corporation (Global Bank), including its Ba1/NP long- and short-term foreign currency deposit ratings, the Baa3/P-3 long- and short-term foreign currency Counterparty Risk Ratings, as well as its Baseline Credit Assessment (BCA) and Adjusted BCA of ba1. In addition, Moody's also affirmed Global Bank's long- and short-term Counterparty Risk Assessments (CRA) of Baa3(cr)/P-3(cr). The outlook on the bank's long-term deposit rating was changed to stable from negative. RATINGS RATIONALE By affirming all ratings and assessments and stabilizing the outlook assigned to Global Bank, Moody's acknowledges the modest but continued recovery in the bank's financial performance since June 2023. This recovery is underpinned by a return to pre-pandemic capital levels, supported by stable-albeit modest-earnings, improved asset quality indicators, and recent efforts to restructure its funding base. As of March 2025, Global Bank's adjusted tangible common equity to fully adjusted risk-weighted assets (TCE ratio) returned to 11.6%, aligning with its pre-pandemic average (2017 to 2019). Although its TCE ratio remains below the peak of 12.6% reached in 2022, it reflects the bank's strategy to slow credit expansion —evidenced by a 2.4% yoy contraction in 2024— and to prioritize growth in specific higher-yielding assets, such as personal loans, factoring and international lending. This approach is expected to support ongoing capital replenishment, complemented by a stable dividend policy in the coming years, even as dividends remain high, at around 70% of net income. Global Bank's profitability has remained broadly stable since end-2023, with a net income to tangible assets ratio of 0.6% as of March 2025. Despite subdued growth and persistently high interest rates, the bank's net interest margin (NIM) remains flat at 2.0%, in line with a continued reliance on market funding that, at 21.9% of tangible banking assets as of March 2025, is slightly above the Panamanian banking system's 18.9%. Deposits represent 65% of total assets as of March 2025, primarily consisting of corporate term deposits. Recent efforts to diversify its deposit base, highlighted by an annual growth of 9% in term deposits as of March 2025, and an emphasis on expanding the retail deposit segment will ease funding costs in coming quarters. These efforts will also support the bank's moderate growth strategy over the next two years. Loan loss provisions still consume a significant 42% of pre-provision income, though this is down from 61% in 2022, easing pressure on the bottom line. While profitability will remain structurally below its 0.9% pre-pandemic levels, a gradual improvement is likely in the following quarters as interest rates decline, the bank shifts toward higher-yielding assets and lower-cost funding, and macroeconomic conditions in Panama improve. As of March 2025, Global Bank continued showing improvements in its asset quality. Stage 3 loans declined to 3.9% of gross loans, down from 4.2% a year earlier, outperforming similarly rated peers in the country. The bank also maintained strong loan loss reserves, covering 88% of Stage 3 loans, supported by robust collateral structures that have historically limited charge-offs. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Upward pressure on Global Bank's ratings remains limited for now. The current stable outlook already reflects Moody's expectations of continued gradual improvements in capital ratios, profitability, and asset quality as credit growth resumes. A reduced reliance on market funding and a structurally stronger earnings profile would be key triggers for potential upgrades in both the bank's ratings and Baseline Credit Assessment (BCA). The BCA could be downgraded if the recovery in capitalization stalls or reverses, driven by a deterioration in asset quality, funding conditions, or profitability. The principal methodology used in these ratings was Banks published in November 2024. GLOBAL MUSIC: Cliffwater Corporate Virtually Writes Off $10.7M Loan ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $10,763,497 loan extended to Global Music Rights to market at $786,118 or 7% 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 Global Music Rights. The loan accrues interest at a rate of 9.12% per annum. The loan matures on December 20, 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 Global Music Rights Global Music Rights is at the forefront of music rights management, leading the field in client services, technology, and rights advocacy. GREENWICH RETAIL: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Greenwich Retail Group, LLC and Madison Avenue Westside, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of New York to use the cash collateral of secured creditors. The interim order authorized the Debtors to use up to $400,000 in cash collateral from June 12 to July 1 in accordance with their budget, with a 10% variance allowed. Hanover Community Bank, the U.S. Small Business Administration and six merchant cash advance (MCA) lenders are the creditors identified by the Debtors with security interests in or liens on the Debtors' assets. As protection for any diminution in value of their collateral, the secured creditors will be granted replacement liens on all assets of the Debtors and the proceeds thereof. Replacement liens will have the same priority, validity, extent and status of perfection, if any, as their pre-bankruptcy liens. In addition, secured creditors will have the right to assert a superpriority claim. The Debtors were ordered to pay $6,000 to Hanover Bank by June 3 as further protection. The final hearing is scheduled for July 1. Hanover Bank asserts it is owed $2,906,100.34 as of the petition date. As security, the bank was granted a first priority lien on substantially all of the Debtors' assets, including its cash. Meanwhile, SBA provided an EIDL loan to the Debtors in the amount of $500,000 and was granted a lien on substantially all of the Debtors' assets. SBA agreed to subordinate the EIDL loan to the Hanover loans. The merchant cash advance lenders identified by the Debtor include Moby Capital, LLC, Capitalize Group, LLC, Itria Ventures, Smart Business, Newco Capital Group and Square Advance. Hanover Bank is represented by: Mitchell Seidman, Eq. Andrew Pincus, Esq. Seidman & Pincus, LLC 777 Terrace Avenue, Suite 508 Hasbrouck Heights, NJ 07604 Tel: (201) 473-0047 ms@seidmanllc.com ap@seidmanllc.com About Greenwich Retail Group LLC Greenwich Retail Group, LLC operates retail clothing stores under brands including Everafter, which focuses on children's and teen apparel, and The Westside, a women's fashion boutique. Greenwich Retail Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11295) on June 9, 2025. In its petition, the Debtor reported assets between $500,000 and $1 million and liabilities between $1 million and $10 million. Judge Michael E. Wiles oversees the case. The Debtor is represented by Robert L. Rattet, Esq., at Davidoff Hutcher & Citron, LLP. HIGHER GROUND: Deadline for Panel Questionnaires Set for June 25 ---------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of Higher Ground Education, Inc., et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/38fpk94j and return by email it to Meredyth A Kippes -- meredyth.a.kippes@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 12:00 p.m. Central Standard Time, on Wednesday, June 25, 2025. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About 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 Company 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. 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: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------------- On June 17, 2025, Higher Ground Education Inc.filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 200 and 999 creditors. The petition states funds will be available to unsecured creditors. About Higher Ground Education Inc. 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. Higher Ground Education Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80121) on June 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michelle V. Larson handles the case. The Debtors are represented byHolland N. O'Neil, Esq. and Timothy C. Mohan, Esq. at FOLEY & LARDNER LLP and Nora J. McGuffey, Esq. and Quynh-Nhu Truong, Esq. at FOLEY & LARDNER LLP. SIERRACONSTELLATION PARTNERS, LLC is the Debtors' Financial Advisor. VERITA GLOBAL, LLC F/K/A KURTZMAN CARSON CONSULTANTS, LLC is the Debtors' Notice, Claims, Solicitation & Balloting Agent. HJJM LLC: Case Summary & One Unsecured Creditor ----------------------------------------------- Debtor: HJJM LLC 833 Little Meadow Road Guilford, CT 06437 Business Description: HJJM LLC is the fee simple owner of the property at 7 Hart Landing in Guilford, Connecticut, which has been valued at approximately $1.38 million according to an expert appraisal. Chapter 11 Petition Date: June 20, 2025 Court: United States Bankruptcy Court District of Connecticut Case No.: 25-30571 Judge: Hon. Ann M Nevins Debtor's Counsel: Joseph J. D'Agostino, Jr., Esq. ATTORNEY JOSEPH J. D'AGOSTINO, JR., LLC 1062 Barnes Road, Suite 108 Wallingford, CT 06492 Tel: 203-265-5222 Fax: 203-265-5236 Email: joseph@lawjjd.com Total Assets: $1,400,000 Total Liabilities: $1,251,815 The petition was signed by Helena Clark as member. The Debtor listed Sunnova, addressed to its president or CEO at 20 Greenway Plaza #540, Houston, Texas 77046, as its only unsecured creditor, with a $75,000 claim related to solar panels. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/GC7ROKY/HJJM_LLC__ctbke-25-30571__0001.0.pdf?mcid=tGE4TAMA HOPEMAN BROTHERS: Landry & Swarr Files Rule 2019 Statement ---------------------------------------------------------- In the Chapter 11 case of Hopeman Brothers, Inc., Landry & Swarr, LLC, filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure. Landry & Swarr represents persons in their asbestos bodily injury litigation currently pending in other courts, and all of whom it asserts are creditors of the Debtor because of tortious asbestos exposures caused by Debtor. The following individuals retained Landry & Swarr, LCC to represent them regarding their asbestos-related personal injuries: 1. Daniel Cantrelle, Jr. 2. Dana Cantrelle 3. Kelley Cantrelle Ziegler 4. Monica Koeppel 5. Paul Cantrelle 6. Shelley Cantrelle 7. Zachary Cantrelle 8. Nolan LeBoeuf, Jr. 9. David Guidry 10. Shirley Guidry 11. Sandra Robert 12. Alvin Clouatre, Jr. The Debtor caused the personal injuries of the Landry & Swarr Clients by tortiously exposing them or their family member to asbestos fibers and dust at Avondale Shipyards in the Greater New Orleans Area of Louisiana. Debtor worked as a contractor there, installing asbestos-containing wall boards among other things. To date, neither a judge nor jury has determined the amount of Landry & Swarr Client' claims against Debtor. All Landry & Swarr Clients maintain civil actions in a federal or state district court in Louisiana, however. Local counsel for the Landry & Swarr Clients: Lynn. L. Tavenner, Esq. Paula S. Beran, Esq. TAVENNER & BERAN, PLC 20 North Eighth Street, Second Floor Richmond, Virginia 23219 T: (804) 783-8300 Email: ltavenner@tb-lawfirm.com Email: pberan@tb-lawfirm.com Lead Counsel for Landry & Swarr Clients: Matthew Christopher Clark, Esq. LANDRY & SWARR, LLC 1100 Poydras Street, Ste. 2000 New Orleans, LA 70163 T: (504) 299-1214 Email: mclark@landryswarr.com About Hopeman Brothers, Inc. During the 1980s, Hopeman Brothers, Inc. transitioned its business away from ship joining and into manufacturing check-out counters used in commercial retail stores such as Walmart. In 2002, Hopeman spun off its cabinet-making business into Cinnabar Solutions, Inc. In 2003, Hopeman sold substantially all of its remaining shipbuilding-related assets to an unrelated party, US Joiner LLC, pursuant to an asset purchase agreement, dated as of December 23, 2003. Since the asset sale in 2003, Hopeman has had no business operations and exists solely to defend and, when appropriate, settle asbestos-related claims. Hopeman Brothers filed Chapter 11 petition (Bankr. E.D. Va. Case No. 24-32428) on June 30, 2024, with $50 million to $100 million in both assets and liabilities. The Debtor tapped Hunton Andrews Kurth, LLP as bankruptcy counsel; Blank Rome, LLP as special insurance counsel; Courington, Kiefer, Sommers, Marullo & Matherne, LLC as special asbestos counsel; and Stout Risius Ross, LLC as financial advisor. Kurtzman Carson Consultants, LLC, is the claims and noticing agent. INDIVIDUALIZED ABA: Court OKs Bid to Use Newtek's Cash Collateral ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, approved a stipulation between Individualized ABA Services for Families, LLC and Newtek Bank, N.A., authorizing use of cash collateral. The stipulation allows the Debtor to utilize the cash collateral of Newtek, a secured creditor, from June 11 until confirmation of its Chapter 11 plan to pay its operating expenses. As protection for any diminution in value of its cash collateral, Newtek will be granted a replacement lien on property acquired by the Debtor after the petition date, with the same validity and priority as its pre-bankruptcy lien. As further protection, Newtek will continue to receive a monthly payment of $3,500. In addition, the secured creditor is entitled to a priority claim over the life of the Debtor's bankruptcy case. Meanwhile, the Debtor is required under the stipulation to continue its monthly carveout payment of $1,000 to the Subchapter V trustee. As of the petition date, the Debtor owed $948,354.53 to Newtek based on the $1 million loan it obtained from the creditor. The loan is secured by personal property owned by the Debtor. Newtek is represented by: Christopher D. Crowell, Esq. Hemar, Rousso & Heald, LLP 15910 Ventura Boulevard, 12th Floor Encino, CA 91436 Telephone: (818) 501-3800 Facsimile: (818) 501-2985 ccrowell@hrhlaw.com About Individualized ABA Services for Families Individualized ABA Services for Families, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 24-41559) on October 2, 2024, with total assets of $193,244 and total liabilities of $1,635,914. Raajna Naidu, chief executive officer, signed the petition. Judge William J. Lafferty oversees the case. The Debtor is represented by: Michael Jay Berger, Esq. Law Offices Of Michael Jay Berger Email: michael.berger@bankruptcypower.com INVERSIONES ALFA: Seeks 120-Day Extension of Plan Filing Deadline ----------------------------------------------------------------- Inversiones Alfa V, C.A., asked the U.S. Bankruptcy Court for the Southern District of Florida to extend its exclusivity period to file plan and solicit acceptances for additional one-hundred and twenty days. The Debtor is a single asset real estate company which owns and leases a residential property in Sunny Isles Beach, FL. The Debtor explains that there is a pending appeal in the Third District Court of Appeal of Florida (the "Third DCA"), Case No. 3D2025-0218 involving a dispute between the Debtor and Cedros Management Investments, LLC, who is the Debtor's primary creditor. The Appeal had been abated by the Third DCA and jurisdiction had been relinquished for the trial court to enter a final order. The Debtor claims that this request is being made to ensure its continued management of its business affairs and negotiation with its creditors, as well as to preserve the Debtor's possibility of reorganization and going concern value for the benefit of creditors. The Debtor cites that an extension of the exclusive periods is customary, as well as essential, in the context of the Debtor's Chapter 11 case. Ample cause exists to grant the Debtor such relief because, inter alia, (i) the Debtor continues to make good faith progress towards reorganization, (ii) the Debtor is not seeking to use exclusivity to pressure creditors into accepting a plan they find unacceptable, and (iii) no viable plan can be proposed absent a decision on the pending Appeal. The Debtor submits that an extension of the Exclusive Period is warranted and appropriate for this case. The relief requested will afford the Debtor a full and fair opportunity to negotiate, propose, and seek acceptances of a confirmable Chapter 11 plan which if the Debtor is successful in the Appeal, would pay creditors in full. The Debtor's Counsel: Christian Somodevilla, Esq. LSS LAW 2 S Biscayne Blvd., #2200 Miami, FL 33131 Tel: (305) 894-6163 E-mail: cs@lss.law About Inversiones Alfa V, C.A. Inversiones Alfa V, C.A., owns a condominium unit, specifically Unit 2303, located in the Turnberry Ocean Colony South Tower in Sunny Isles, Florida. The Unit is valued at $4.1 million based on a purchase offer made in February 2024. Inversiones Alfa V, C.A., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-11310) on Feb. 6, 2025. In its petition, the Debtor reports total assets of $7,763,329 and total liabilities of $8,903,465. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtor is represented by Christian Somodevilla, Esq. at LSS LAW. IQSTEL INC: Converts $1.2M of Notes Into Common Stock ----------------------------------------------------- As previously disclosed, iQSTEL Inc. previously issued secured convertible promissory notes under a securities purchase agreement for an original aggregate purchase price of $3,500,000, increased in December 2024 to $5,000,000, which Notes are convertible into shares of the Company's common stock. On June 4, 2025 and June 6, 2025, the noteholder issued to the Company Notices of Conversion to convert $1,111,111.12 of principal and $90,277.78 of interest under the Notes into a total of 286,640 shares of common stock at a conversion rate of $4.20 per share, as adjusted to reflect the 1-for-80 reverse stock split effected on May 2, 2025. On the same dates, the Company issued the shares of common stock. As of June 6, 2025, the noteholder has principal of $2,690,058 and accrued but unpaid interest of $189,093 remaining on the Notes that may be converted into common stock of the Company at $4.20 per share, subject to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding immediately after giving effect to such exercise. The conversion of the remaining principal and interest is subject to the noteholder's election and the terms of the Notes, including the 9.99% beneficial ownership limitation. The shares of common stock of the Company delivered in connection with this conversion has been issued in reliance on the exemption from registration provided by Section 3(a)(9)of the Securities Act of 1933, as amended. About iQSTEL iQSTEL Inc. is a multinational technology company that provides services across telecom, fintech, blockchain, artificial intelligence, and cybersecurity. The Company operates in 21 countries and serves a global customer base. It projects $340 million in revenue for fiscal year 2025. In an auditor's report dated March 31, 2025, Urish Popeck & Co., LLC, issued a "going concern" qualification, citing that the Company has suffered recurring losses from operations, negative working capital, and does not have an established source of revenues sufficient to cover its operating costs, which raise substantial doubt about its ability to continue as a going concern. iQSTEL ended the year on Dec. 31, 2024 with a net loss of $5,180,036, significantly widening from the $219,436 loss reported for the year ended Dec. 31, 2023. The net results of the periods reported are highly impacted by the expenses in the holding entity (IQSTEL), which has a high component of interest and other financial expenses related to the funds borrowed for the acquisition of QXTEL Limited. IQSTEL INC: Reports $77.8M Prelim Revenue for January to April -------------------------------------------------------------- IQSTEL Inc. announced that its preliminary net revenue for the first four months of 2025 (January through April) totaled approximately $77.8 million, continuing the company's strong growth momentum and reinforcing its confidence in full-year revenue guidance. This preliminary figure reflects a 12% increase compared to the same period in 2024, highlighting the strength and consistency of IQSTEL's organic growth across its core telecom operations. "We're pleased with how 2025 has begun," said Leandro Iglesias, CEO of IQSTEL. "Historically, the second half of the year has delivered even stronger performance, and we fully expect that trend to continue. With these results, we remain on track to reach our full-year revenue forecast of $340 million." Accelerating with Fintech Expansion: IQSTEL's recent acquisition of GlobeTopper, a profitable fintech company with operations across the Americas, Europe, and Africa, is expected to further accelerate growth. The transaction positions IQSTEL to reach a $400 million annualized revenue run rate with a projected 80% telecom / 20% fintech-tech revenue mix by year-end. Profitability Trends Upward: IQSTEL´s operating business anticipates generating over $3 million in adjusted EBITDA in 2025, with positive net income in the seven-digit range, driven by operational efficiencies, scalability, and its increasing focus on high-margin services. Vision 2027: $1 Billion Revenue: IQSTEL continues to execute its strategic roadmap to become a $1 billion revenue company by 2027, combining organic growth, targeted acquisitions, and expansion in key technology sectors, including cybersecurity, AI, managed services, and fintech. "We've already achieved critical mass, so every dollar of new revenue has an outsized impact on our bottom line," added Iglesias. "With GlobeTopper, our telecom platform, and a growing ecosystem of innovation, we are building something big -- and we're just getting started." NASDAQ Uplisting: A New Chapter of Acceleration: IQSTEL's recent uplisting to NASDAQ has already begun to catalyze momentum. The increased visibility and credibility among institutional investors are expected to unlock new strategic opportunities and financial partnerships. "Being on NASDAQ is a game changer," concluded Iglesias. "It's a sign to the market that we're operating on a higher level. 2025 is shaping up to be a remarkable year -- and it's just the beginning." About iQSTEL iQSTEL Inc. is a multinational technology company that provides services across telecom, fintech, blockchain, artificial intelligence, and cybersecurity. The Company operates in 21 countries and serves a global customer base. It projects $340 million in revenue for fiscal year 2025. In an auditor's report dated March 31, 2025, Urish Popeck & Co., LLC, issued a "going concern" qualification, citing that the Company has suffered recurring losses from operations, negative working capital, and does not have an established source of revenues sufficient to cover its operating costs, which raise substantial doubt about its ability to continue as a going concern. iQSTEL ended the year on Dec. 31, 2024 with a net loss of $5,180,036, significantly widening from the $219,436 loss reported for the year ended Dec. 31, 2023. The net results of the periods reported are highly impacted by the expenses in the holding entity (IQSTEL), which has a high component of interest and other financial expenses related to the funds borrowed for the acquisition of QXTEL Limited. J.C.C.M. PROPERTIES: Hires Ward and Smith as Special Counsel ------------------------------------------------------------ J.C.C.M. Properties, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Ward and Smith, P.A. as special counsel. The Debtor needs the firm's legal assistance in connection with a case (Case No. 23-C-01529-S2) filed in the State Court of Gwinnett County. The firm will be paid at these rates: Edward J. Coyne, III, Esq. $595 per hour Isabelle M. Chammas, Esq. $365 per hour Paralegals $180 per hour The firm received from the Debtor a retainer of $50,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Coyne, III, 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: Edward J. Coyne, III Ward and Smith, P.A. 82 Patterson Avenue, Suite 300 Asheville, NC 28801 Telephone: (828) 348-6070 Facsimile: (828) 348-6077 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. The Debtor is represented by Will Geer, Esq., at Rountree Leitman Klein & Geer, LLC. JACK OHIO: Moody's Lowers CFR to 'B3' & Alters Outlook to Stable ---------------------------------------------------------------- Moody's Ratings downgraded the Corporate Family Rating of Jack Ohio Finance LLC's ("Jack Ohio") to B3 from B2, the Probability of Default Rating to B3-PD from B2-PD, and Backed Senior Secured 1st Lien Term Loan B to B3 from B2 and Backed Senior Secured 1st Lien Revolving Credit Facility to B3 from B2. Moody's also revised the rating outlook to stable from negative. The downgrade reflects Jack Ohio's sustained lower earnings, which have caused its debt/EBITDA to rise to 7.6x for LTM March 31, 2025, from 7.2x for year-end December 31, 2024, substantially higher than similarly-rated gaming peers. Jack Ohio also makes significant capital distributions to its owners, further reducing its liquidity and financial flexibility. The stable outlook reflects Moody's expectations that Jack Ohio will generate positive operating cash flow and maintain adequate liquidity, supported by the absence of near-term debt maturities. Additionally, the stable outlook incorporates Moody's expectations that leverage will improve to below 7x over the next 12 to 18 months, driven by higher gaming revenues. RATINGS RATIONALE Jack Ohio's credit profile reflects its high leverage, which weakly positions the company at its current rating level based on this metric. The company's debt/EBITDA leverage, including Moody's adjustments, was 7.6x for the LTM ended March 31, 2025, up from 7.2x at year-end December 31, 2024, due to lower EBITDA. EBITDA declined nearly 5% as a result of reduced gaming revenues stemming from operating disruptions caused by severe weather and casino renovations—highlighting the risks associated with operations concentrated in one or a few assets. The ratings also reflect the company's large annual distributions to owners, as well as its small size and geographic concentration in a single market. These large distributions and high leverage are indicative of the aggressive financial policy pursued by Jack Ohio's private ownership. The ratings also reflect Jack Ohio's adequate liquidity, supported by an undrawn revolver and no near-term debt maturities. The company's properties face limited direct competition in the Cleveland gaming market, which supports earnings stability and positive operating cash flow. Moody's expects Jack Ohio to maintain funds from operations (FFO) above $40 million on an annualized basis over the next 12 to 18 months. However, Jack has historically made large distributions to its owners, which have periodically resulted in very modest or negative free cash flow (FCF). The company distributed $60 million to its owners for the LTM ended March 31, 2025, inclusive of tax distributions. Jack's management team owns the majority of the company, and its private ownership structure makes future distributions difficult to predict. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Jack Ohio's ratings could be upgraded if it the company improves its operating performance, including revenues and EBITDA, resulting in positive free cash flows. Quantitatively, debt-to-EBITDA below 5.0x and EBIT-to-interest expense above 1.5x would result in positive rating momentum. A downgrade could result if liquidity deteriorates. Ratings could be downgraded if Jack Ohio fails to reduce debt/EBITDA closer to 6.0x Jack Ohio Finance LLC is a regional gaming operator of two properties that it sold and leased back from VICI Properties L.P. (Baa3 stable) in early 2020 in the Cleveland market, Jack Cleveland Casino and Jack Thistledown Racino. Jack Cleveland Casino is the only property in the Cleveland gaming market offering table games and is located within walking distance to many urban attractions in the heart of Downtown Cleveland. Jack Thistledown Racino is the home of the Ohio Derby. The company, majority owned by the management team, is private. Net revenue for the latest 12-month period ended March 31, 2025 was approximately $488 million. The principal methodology used in these ratings was Gaming 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. JEFRYN PARK: Seeks Chapter 11 Bankruptcy in New York ---------------------------------------------------- On June 18, 2025, Jefryn Park Realty LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will not be available to unsecured creditors. About Jefryn Park Realty LLC 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. Jefryn Park Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72381) on June 18, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Alan S. Trust handles the case. The Debtors are represented by James C. Vandermark, Esq. at WHITE AND WILLIAMS LLP KTRV LLC: Deadline to File Claims Set for July 9, 2025 ------------------------------------------------------ The United States Bankruptcy Court for the District of Delaware set July 9, 2025 at 5:00 p.m. (ET) as the last date and time for persons and entities to file proofs of claim against KTRV LLC and Heritage Coal & Natural Resources LLC. The Court also set Dec. 9, 2025 at 5:00 p.m. (ET) as the deadline for all governmental units to file their claims against the Debtors. You can file the proof of claim in the following manner: If by Regular Mail: KTRV LLC, et al. Claims Processing c/o Stretto 410 Exchange, Suite 100 Irvine, CA 92602 If by Messager or Overnight Delivery: KTRV LLC, et al. Claims Processing c/o Stretto 410 Exchange, Suite 100 Irvine, CA 92602 Additionally, Proofs of Claim may be delivered electronically using the interface available on the Claims Agent's Website at https://cases.stretto.com/KTRV/file-a-claim/ If you require additional proof of claim forms, you may obtain a proof of claim form from any bankruptcy court clerk's office, your lawyer, or by writing, through regular mail, overnight mail or hand delivery, to the Claims Agent at KTRV LLC, et al. Claims Processing c/o Stretto 410 Exchange, Suite 100, Irvine, CA 92602, or at https://cases.stretto.com/KTRV/file-a-claim/ Proofs of Clam submitted by facsimile or e-mail will not be accepted. If you mail your response to the Claims Agent for filing, you must mail it early enough so the Court will receive it on or before the applicable Bar Date. About KTRV LLC KTRV is a Delaware holding company whose sole asset is its membership interest in HCNR, a Pennsylvania limited liability company. HCNR owns and operates five coal mines and related operations in Pennsylvania and Maryland. KTRV LLC and Heritage Coal & Natural Resources, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10601) on March 30, 2025. In the petitions signed by CRO Brian Ryniker, KTRV LLC listed assets of $50 million to $100 million and liabilities of $50 million to $100 million, and Heritage Coal listed assets of $100 million to $500 million and estimated liabilities of $100 million to $500 million. The Debtors tapped Morris James LLP as counsel. The Debtors' restructuring advisor is RKC, LLC d/b/a RK Consultants LLC, and their claims and noticing agent is Stretto Inc. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors. The Committee selected Frost Brown Todd LLP as its counsel, and Landis Rath & Cobb LLP as its co-counsel. KULA GRAIN: Committee Taps Kutner Brinen Dickey Riley as Attorney ----------------------------------------------------------------- The official committee of unsecured creditors of Kula Grain Co. Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Kutner Brinen Dickey Riley, P.C. as attorneys. The professional services that Counsel are to render are: a. provide the Committee with legal advice with respect to its powers and duties; b. conduct factual inquiries into matters on behalf of the Committee relating to the Debtor's assets, liabilities, and financial condition; c. file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the estate; d. assist the Committee in determining the proper course of the Chapter 11 case and issues that arise during the case including potential sale of assets and/or development of a Plan of Reorganization; and e. perform all other legal services for the Committee which may be necessary. The counsel will bill for its services at the firm's hourly rates as follows: Jeffrey S. Brinen $540 Jenny Fujii $440 Jonathan M. Dickey $400 Keri L. Riley $390 Paralegal $100 The firm received a prepetition retainer in the amount of $35,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Jonathan M. Dickey, Esq., a partner at Kutner Brinen Dickey Riley, 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: Jonathan M. Dickey, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-3047 Email: jmd@kutnerlaw.com About Kula Grain Co. Inc. Kula Grain Co. Inc. is a Fort-Morgan, Colorado-based grain merchant and interstate freight carrier that hauls dry-bulk farm commodities. Kula Grain Co. Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-12338) on April 22, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Joseph G. Rosania Jr. handles the case. The Debtor is represented by Jeffrey A. Weinman, Esq. at ALLEN VELLONE WOLF HELFRICH & FACTOR, P.C. LEISURE INVESTMENTS: Committee Taps Force Ten as Financial Advisor ------------------------------------------------------------------ The official committee of unsecured creditors of Leisure Investments Holdings, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Force Ten Partners, LLC as financial advisor. The firm will render these services: a. review and analyze the Debtors' financial information, including cash flow projections, budgets, cash receipts and disbursement analysis, asset and liability analysis, economic analysis of proposed transactions requiring Court approval, and other related financial materials; b. analyze debtor-in-possession financing arrangements; c. assist in reviewing reports or filings required by the Bankruptcy Court or the U.S. Trustee (e.g., schedules of assets and liabilities, statements of financial affairs, initial and monthly operating reports); d. evaluate potential employee incentive, retention, and severance plans; e. identify potential cost-containment opportunities; f. identify asset redeployment opportunities; g. evaluate reorganization strategies and alternatives available to creditors; h. evaluate proposed asset sales; i. review and analyze the Debtors' capital structure; j. prepare enterprise, asset, and liquidation valuations; k. review and/or prepare information and analyses necessary for plan confirmation; l. evaluate and analyze avoidance actions, including fraudulent conveyances, preferential transfers, and other actions; m. advise and assist the Committee in negotiations and meetings with the Debtors, potential buyers, secured lenders, the U.S. Trustee, other stakeholders, and their professionals; n. attend meetings, teleconferences, and depositions on behalf of the Committee; o. assist in prosecuting Committee responses/objections to the Debtors' motions, including providing expert reports/testimony as required; p. assist with claims-resolution procedures, including analyses of creditors' claims by type, entity, and associated recoveries; q. provide litigation consulting services and expert witness testimony on confirmation issues, avoidance actions, or other relevant matters; and r. perform other general business consulting or related financial advisory functions, as requested by the Committee or its counsel, provided these services are consistent with the role of a financial advisor. The firm's customary hourly rates are: Partners $890 to $990 Managing Directors $595 to $795 Directors and Senior Associates $500 to $580 Associates and Staff $240 to $520 Force Ten Partners is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code; and does not hold or represent any interest adverse to the Debtors' estates, according to court filings. Force 10 Partners can be reached through: Adam Meislik FORCE 10 PARTNERS 5271 California Suite 270 Irvine, CA 92617 Tel: (949) 357-2364 Email: nrubin@force10partners.com About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as counsel; Riveron Management Services, LLC as restructuring advisor; and Kurtzman Carson Consultants, LLC d/b/a Verita Global, as claims & noticing agent. LEISURE INVESTMENTS: Committee Taps Manganelli Leider as Co-Counsel ------------------------------------------------------------------- The official committee of unsecured creditors of Leisure Investments Holdings, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Law Offices of Manganelli, Leider & Savio, P.A. as co-counsel. The firm will render these services: (a) advise the Committee regarding its rights, powers and duties as a committee elected pursuant to Bankruptcy Code Section 1103; (b) advise and consult with the Committee on the conduct of these cases, including all legal and administrative requirements under Chapter 11; (c) attend meetings and negotiate with representatives of the Debtors, secured and unsecured creditors, lessors, governmental agencies, equity holders, employees and other parties in interest; (d) advise the Committee regarding any contemplated sale of assets or business combinations including the negotiation of asset sales, stock purchases, mergers or joint ventures, formulation and implementation of bidding procedures, evaluation of competing offers, drafting of appropriate documents regarding proposed sales and counseling regarding the closing of such sales; (e) advise the Committee regarding prepetition and post-petition financing and cash collateral arrangements and negotiate documents relating thereto; (f) advise the Committee on matters relating to Debtors' assumption, assumption and assignment and rejection of executory contracts and unexpired leases; (g) advise the Committee on matters relating to the ordinary course of business including employment matters, tax, environmental, banking, insurance, securities, corporate, business operation, contracts, joint ventures, real and personal property, press and public relations matters and regulatory matters; (h) provide advice and counseling on actions to protect and preserve the Debtors' estates including actions and proceedings by the Debtors or other designated parties to recover assets, defense of actions and proceedings brought against the estate, negotiations regarding all litigation in which the Committee may be involved and objections to claims filed against the estates; (i) prepare and file necessary motions, applications, answers, orders, reports and papers; (j) review all pleadings, financial and other reports filed by the Debtors in these chapter 11 cases and advise the Committee about the implications; (k) review the nature and validity of any liens asserted against the Debtors' property and advise the Committee concerning the enforceability of such liens; (l) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors' businesses and the desirability of the continuance of such businesses, and any other matter relevant to these cases or to the formulation of a plan; (m) commence and conduct any and all ligation necessary or appropriate to assert rights held by the Committee and/or protect assets of the chapter 11 estates; (n) negotiate and participate in the preparation of the Debtors' plan(s) of reorganization, related disclosure statement(s) and other related documents and agreements and advise and participate in the confirmation of such plan(s); (o) attend meetings with third parties and participate in negotiations with respect to the above matters; (p) appear before this Court, other courts, and the United States Trustee to protect and represent the interests of the Committee and the Committee's constituents; (q) meet and coordinate with other counsel and other professionals representing the Debtors and other parties in interest; (r) perform all other necessary legal services and provide all necessary legal advice to the Committee in connection with these Chapter 11 cases; and (s) handle such other matters as may be requested by the Committee and to which ML&S agrees. The firm will be paid at these rates: Christian Savio, Partner $650 per hour Melisa Manganelli, Partner $800 per hour Matthew Leider, Partner $650 per hour Kaya Vera, Paralegal $250 per hour Katie Belton, Paralegal $250 per hour Ryan Monakey, Law Clerk $75 per hour The following information is provided in response to the request for additional information set forth in paragraph D.1. of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or otherwise to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No Question: If you represented the client in the past 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months pre-petition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reason for the difference. Response: N/A Question: Has your client approved your prospective budget and staffing plan, and if so, for what budget period? Response: The Client understands that the Committee professionals are subject to the budget attached to the Second Interim Order (I) Authorizing Debtors to Obtain Postpetition Financing Pursuant to Section 364 of the Bankruptcy Code; (II) Authorizing the Use of Cash Collateral Pursuant to Section 363 of the Bankruptcy Code; (III) Granting Adequate Protection to the Prepetition Secured Parties Pursuant to Sections 361, 362, 363 and 364 of the Bankruptcy Code; (IV) Granting Liens and Superpriority Claims; (V) Modifying the Automatic Stay; and (VI) Scheduling a Final Hearing, which remains subject to negotiation by and between the Committee, the Debtor and the DIP Lender. Mr. Savio assured the court that his firm is a "disinterested person" under Bankruptcy Code Sec. 101(14). The firm can be reached through: Christian Savio, Esq. Manganelli, Leider & Savio, P.A. 1900 N.W. Corporate Blvd., Ste. 200W Boca Raton, FL 33431 Phone: (561) 826-1740 About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as counsel; Riveron Management Services, LLC as restructuring advisor; and Kurtzman Carson Consultants, LLC d/b/a Verita Global, as claims & noticing agent. LEISURE INVESTMENTS: Committee Taps Raines Feldman as Counsel ------------------------------------------------------------- The official committee of unsecured creditors of Leisure Investments Holdings, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Raines Feldman Littrell LLP as its counsel. The firm will render these services: (a) advise the Committee regarding its rights, powers and duties as a committee elected pursuant to Bankruptcy Code Section 1103; (b) advise and consult with the Committee on the conduct of these cases, including all legal and administrative requirements under chapter 11; (c) attend meetings and negotiate with representatives of the Debtors, secured and unsecured creditors, lessors, governmental agencies, equity holders, employees and other parties in interest; (d) advise the Committee regarding any contemplated sale of assets or business combinations including the negotiation of asset sales, stock purchases, mergers or joint ventures, formulation and implementation of bidding procedures, evaluation of competing offers, drafting of appropriate documents regarding proposed sales and counseling regarding the closing of such sales; (e) advise the Committee regarding prepetition and post-petition financing and cash collateral arrangements and negotiate documents relating thereto; (f) advise the Committee on matters relating to Debtors' assumption, assumption and assignment and rejection of executory contracts and unexpired leases; (g) advise the Committee on matters relating to the ordinary course of business including employment matters, tax, environmental, banking, insurance, securities, corporate, business operation, contracts, joint ventures, real and personal property, press and public relations matters and regulatory matters; (h) provide advice and counseling on actions to protect and preserve the Debtors' estates including actions and proceedings by the Debtors or other designated parties to recover assets, defense of actions and proceedings brought against the estate, negotiations regarding all litigation in which the Committee may be involved and objections to claims filed against the estates; (i) prepare and file necessary motions, applications, answers, orders, reports and papers; (j) review all pleadings, financial and other reports filed by the Debtors in these chapter 11 cases and advise the Committee about the implications; (k) review the nature and validity of any liens asserted against the Debtors' property and advise the Committee concerning the enforceability of such liens; (l) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors' businesses and the desirability of the continuance of such businesses, and any other matter relevant to these cases or to the formulation of a plan; (m) commence and conduct any and all ligation necessary or appropriate to assert rights held by the Committee and/or protect assets of the chapter 11 estates; (n) negotiate and participate in the preparation of the Debtors' plan(s) of reorganization, related disclosure statement(s) and other related documents and agreements and advise and participate in the confirmation of such plan(s); (o) attend meetings with third parties and participate in negotiations with respect to the above matters; (p) appear before this Court, other courts, and the United States Trustee to protect and represent the interests of the Committee and the Committee's constituents; (q) meet and coordinate with other counsel and other professionals representing the Debtors and other parties in interest; (r) perform all other necessary legal services and provide all necessary legal advice to the Committee in connection with these chapter 11 cases; and (s) handle such other matters as may be requested by the Committee and to which Raines agrees. The firm will be paid at these hourly rates: Thomas J. Francella, Jr., Partner $880 Mark W. Eckard, Partner $780 Stephen M. Mott, Associate $495 Paralegals $375 to $465 In addition, the firm will seek reimbursement for expenses incurred. Thomas Francella, Jr., Esq., an attorney at Raines Feldman Littrell, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did you agree to any variations from, or otherwise to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the past 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months pre-petition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reason for the difference. Response: N/A Question: Has your client approved your prospective budget and staffing plan, and if so, for what budget period? Response: The Client understands that the Committee professionals are subject to the budget attached to the Second Interim Order (I) Authorizing Debtors to Obtain Postpetition Financing Pursuant to Section 364 of the Bankruptcy Code; (II) Authorizing the Use of Cash Collateral Pursuant to Section 363 of the Bankruptcy Code; (III) Granting Adequate Protection to the Prepetition Secured Parties Pursuant to Sections 361, 362, 363 and 364 of the Bankruptcy Code; (IV) Granting Liens and Superpriority Claims; (V) Modifying the Automatic Stay; and (VI) Scheduling a Final Hearing, which remains subject to negotiation by and between the Committee, the Debtor and the DIP Lender. Mr. Francella disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Thomas J. Francella, Jr., Esq. Raines Feldman Littrell LLP 824 North Market Street, Suite 805 Wilmington, DE 19801 Telephone: (302) 772-5803 Email: tfrancella@raineslaw.com About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as counsel; Riveron Management Services, LLC as restructuring advisor; and Kurtzman Carson Consultants, LLC d/b/a Verita Global, as claims & noticing agent. LEVY VENTURES: Lender Seeks to Prohibit Cash Collateral Access -------------------------------------------------------------- Community Loan Servicing, LLC asks the U.S. Bankruptcy Court for the Southern District of New York, White Plains, to prohibit Levy Ventures LLC from using cash collateral, require the Debtor to begin making adequate protection payments, and compel the Debtor to provide a full accounting of rental income and submit a proposed budget related to three mortgaged properties in Baltimore, Maryland. CLS holds secured interests in the properties and their associated rental income through deeds of trust that include “Assignment of Rents” provisions. Despite this, CLS asserts the Debtor has been collecting rents from two of the properties without court approval or providing adequate protection, in violation of 11 U.S.C. sections 363 and 552. CLS highlights that the Debtor filed for Chapter 11 on March 5, 2025, but has yet to file a plan of reorganization, operating reports, or a motion to use cash collateral. Although the Debtor indicated in April and June filings that it intends to retain one property and surrender the other two, no payments have been made, and CLS continues to maintain taxes and insurance on the properties. CLS is now asking the Court to prohibit any further unauthorized use of rental income (cash collateral), compel the Debtor to begin monthly adequate protection payments in accordance with contract terms, provide an accounting of all rental income since the bankruptcy filing, submit property-specific budgets, and disclose lease/rent agreements. CLS also seeks post-petition replacement liens on rental income and related assets, and requests that rental proceeds be deposited into a segregated debtor-in-possession account. Community Loan Servicing is represented by: Jenelle Arnold, Esq. Aldridge Pite, LLP 3333 Camino Del Rio South Suite 225 San Diego, CA 92108 Telephone: (858) 750-7600 Facsimile: (619) 590-1385 JArnold@aldridgepite.com About Levy Ventures Levy Ventures, LLC is a New York-based company engaged in real estate -related activities. Levy Ventures sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22182) on March 5, 2025. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Judge Sean H. Lane handles the case. The Debtor is represented by Kevin Nash, Esq., at Goldberg Weprin Finkel Goldstein, LLP. Fay Servicing, LLC, acting as the authorized loan servicer for U.S. Bank Trust National Association (as Trustee for COLT 2023-3), is represented by Jenelle Arnold, Esq. at Aldridge Pite, LLP. Community Loan Servicing, LLC, as creditor, is represented by: Jenelle Arnold, Esq. Aldridge Pite, LLP 3333 Camino Del Rio South Suite 225 San Diego, CA 92108 Telephone: (858) 750-7600 Facsimile: (619) 590-1385 Email: JArnold@aldridgepite.com MAGENS POINT: Seeks Chapter 11 Bankruptcy in Virgin Islands ----------------------------------------------------------- On June 18, 2025, Magens Point Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Virgin Islands. According to court filing, the Debtor reports $10,274,096 in debt owed to 50 and 99 creditors. The petition states funds will be available to unsecured creditors. About Magens Point Inc. 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. Magens Point Inc.sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. V.I. Case No. 25-30002) on June 18, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Mary F. Walrath handles the case. The Debtors are represented by Kevin F. D'Amour, Esq. at BARNES, D'AMOUR & VOGEL. MARCO'S PIZZA: Seeks to Hire Vincent DiMaggio CPA as Accountant --------------------------------------------------------------- Marco's Pizza of N.Y. Corp. and Josulianaa, Inc. seek approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Vincent DiMaggio CPA, LLC to provide accounting services. The firm will bill a monthly fee of $510. Vincent DiMaggio assured the court that the firm is a disinterested person as defined in section 101(14) of the Bankruptcy Code. Mr. DiMaggio can be reached at: Vincent DiMaggio, CPA Vincent DiMaggio CPA, LLC 2032 Route 35 North Unit 4 Ortley Beach, NJ 08751 Phone: (973) 305-9111 Email: vdmcpa@yahoo.com About Marcoss Pizza of N.Y., Corp. Marcoss Pizza of N.Y., Corp. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10468) on March 13, 2025, listing $500,001 to $1 million in both assets and liabilities. Judge John P Mastando III presides over the case. Joel Shafferman, Esq. at Shafferman & Feldman, LLP represents the Debtor as counsel. MAXIMUS SUPPLY: Court OKs Continued Access to Cash Collateral ------------------------------------------------------------- Maximus Supply Chain Holdings, LLC received eighth interim approval from the U.S. Bankruptcy Court for the Northern District of Indiana, Hammond Division at Lafayette, to continue to use cash collateral. The eighth interim order authorized the company to use cash collateral for operating expenses in accordance with its budget. The company's six-week budget shows projected expenses of $48,151 for the week ending June 20; $40,916 for the week ending June 27; $184,928 for the week ending July 4; $77,494 for the week ending July 11; $48,151 for the week ending July 18; and $40,916 for the week ending July 25. A status conference on further cash use is scheduled for July 17. About Maximus Supply Chain Holdings Maximus develops innovative solutions and products servicing a variety of industries including automotive, commercial vehicle, agricultural equipment, RVs, and power manufacturing industries. Maximus Supply Chain Holdings, LLC and its affiliates filed their voluntary petitions for Chapter 11 protection (Bankr. N.D. Ind. Lead Case No. 24-40167) on June 25, 2024, listing as much as $0 in both assets and liabilities. Sam Bazzi, president and chief executive officer, signed the petitions. Judge Robert E. Grant oversees the cases. The Debtor is represented by: Sarah L. Fowler Blackwell, Burke & Ramsey, P.C. Tel: 317-533-7869 Email: sfowler@bbrlawpc.com MBS HOLDINGS: Cliffwater Corporate Marks $1.2MM Loan at 88% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,271,186 loan extended to MBS Holdings, Inc. to market at $150,606 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 MBS Holdings, Inc. The loan accrues interest at a rate of 10.17% per annum. The loan matures on April 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 MBS Holdings, Inc. MBS Holdings, Inc. is a holding company with various subsidiaries and business activities. The company's activities include financial services, media, and other diversified sectors. MC GROUP: Cliffwater Corporate Marks $9.3 Million Loan at 18% Off ----------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $9,383,197 loan extended to Mc Group Ventures Corporation to market at $7,694,966 or 82% 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 Mc Group Ventures Corporation. The loan accrues interest at a rate of 9.89% per annum. The loan matures on June 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 Mc Group Ventures Corporation MC Group Ventures is a business services holding company born from MC Sign that has expanded and repositioned its role in the market through numerous acquisitions. MIDTOWN VENTURE: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Midtown Venture Group, LLC 1719 W. Kennedy Blvd. Tampa, FL 33606 Chapter 11 Petition Date: June 20, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-04163 Judge: Hon. Roberta A Colton Debtor's Counsel: Daniel R. Fogarty, Esq. STICHTER, RIEDEL, BLAIN & POSTLER, P.A. 110 E. Madison St., Suite 200 Tampa, FL 33602 Tel: 813-229-0144 E-mail: dfogarty@srbp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Cliff Parchmon as manager. 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/HYJX6KA/Midtown_Venture_Group_LLC__flmbke-25-04163__0001.0.pdf?mcid=tGE4TAMA NOBLE LIFE: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: Noble Life Sciences, Inc. 1500 Fannie Dorsey Road Sykesville, MD 21784 Business Description: Noble Life Sciences is a pre-clinical contract research organization that provides GLP and non-GLP services, including safety and efficacy testing, for drugs, vaccines, and medical devices. The Company offers capabilities in pharmacology, bioanalysis, analytical testing, and preclinical development across a range of therapeutic areas such as oncology, infectious diseases, and cardiovascular conditions. Chapter 11 Petition Date: June 22, 2025 Court: United States Bankruptcy Court District of Maryland Case No.: 25-15637 Debtor's Counsel: Robert B. Scarlett, Esq. SCARLETT & CROLL, P.A. 306 W. Chesapeake Ave. Towson, MD 21204 Tel: 410-468-3100 Fax: 410-332-4026 E-mail: rscarlett@scarlettcroll.com Total Assets: $488,456 Total Liabilities: $5,160,511 Alain Cappeluti signed the petition 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/TSIBX6Y/Noble_Life_Sciences_Inc__mdbke-25-15637__0001.0.pdf?mcid=tGE4TAMA OMNI FIBER: Cliffwater Corporate Marks $30MM Loan at 51% Off ------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $30,000,000 loan extended to Omni Fiber, LLC to market at $14,647,488 or 49% 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 Omni Fiber, LLC. The loan accrues interest at a rate of 9.56% per annum. The loan matures on July 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 Omni Fiber, LLC Ohio-based Omni Fiber provides 100% fiber-optic broadband Internet, TV, and Phone services to residential and business customers in the Midwestern United States. ONECARE MEDIA: Cliffwater Corporate Marks $8.4MM 1L Loan at 60% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $8,448,884 loan extended to OneCare Media, LLC to market at $5,060,882 or 40% 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 OneCare Media, LLC. The loan accrues interest at a rate of 8.92% per annum. The loan matures on September 9, 202. 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 OneCare Media, LLC Headquartered in Seattle, WA, OneCare Media maintains a proprietary portfolio of consumer-facing online destinations within the health vertical. ORION MENTAL: Seeks to Extend Plan Filing Deadline to August 25 --------------------------------------------------------------- Orion Mental Health Center LLC asked the U.S. Bankruptcy Court for the Southern District of Florida to extend its periods to file a disclosure statement and plan of reorganization to August 25, 2025. The Debtor explains that at the heart of its case is the dispute with the Florida Agency for Healthcare Administration ("AHCA") for alleged overpayments and incorrect billing. The Debtor retained Erin M. Ferber, Esq. of Nicholson & Eastin, LLP as special counsel. She is involved for advising and negotiating on the Debtor's behalf with AHCA concerning their Florida Medicaid enrollment, addressing payment suspension, alleged overpayment, and ensuring compliance with AHCA's terms to maintain enrollment and resolve repayment issues. Attorney Ferber is actively engaged in negotiations with AHCA, and is expecting a written proposal from AHCA with regard to potential resolution of the matter. However, cannot predict when the written proposal will be received. While the discussions are complex, substantial progress has been made toward a global resolution. However, until these issues are resolved, the Debtor is unable to commit to a plan of reorganization. Orion Mental Health Center LLC is represented by: Chad T. Van Horn, Esq. Van Horn Law Group, PA 500 NE 4th Street, Suite 200 Fort Lauderdale, FL 33301 Telephone: (561) 621-1360 Email: info@cvhlawgroup.com About Orion Mental Health Center Orion Mental Health Center LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-15804) on June 11, 2024, listing $100,001 to $500,000 in both assets and liabilities. Judge Corali Lopez-Castro presides over the case. Chad T. Van Horn, Esq., at Van Horn Law Group, PA, is the Debtor's bankruptcy counsel. PAP-R PRODUCTS: Seeks to Extend Plan Exclusivity to October 1 ------------------------------------------------------------- Pap-R Products Company asked the U.S. Bankruptcy Court for the Southern District of Illinois to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to October 1 and December 1, 2025, respectively. The Debtor explains that its reorganization is proceeding at a pace consistent with the size of the case and the complex and difficult issues confronting Debtor. Debtor is working with several parties that have expressed an interest in investing into or buying Debtor or certain lines of business. These discussions remain fluid. The Debtor claims that it does require additional time to formulate, finalize and file its chapter 11 plan, although Debtor has made progress in laying the groundwork for a plan of reorganization. The Debtor needs additional time to build a consensual plan, which will be the focus of discussions with its secured creditors and other interested parties. These discussions are progressing, but more time and resources will have to be devoted by the parties in furtherance thereof. The Debtor asserts that an extension of the Exclusive Periods as requested herein will not prejudice any party in interest, but rather will afford Debtor an opportunity to achieve and propose a confirmable chapter 11 plan. Failure to extend the Exclusive Periods as requested herein would defeat the very purpose of section 1121 of the Bankruptcy Code -- i.e., to provide Debtor with a meaningful and reasonable opportunity to negotiate with creditors and other parties in interest and propose a confirmable chapter 11 plan. Pap-R Products Company is represented by: Larry E. Parres, Esq. Lewis Rice LLC 600 Washington Ave., Suite 2500 St. Louis, MO 63101 Telephone: (314) 444-7600 Facsimile: (314) 612-7660 Email: lparres@lewisrice.com About Pap-R Products Company Founded in 1947, PAP-R Products specializes in a wide range of coin and currency wrapping solutions. The Company's product lineup includes flat coin wrappers, automatic coin rolls, currency bands, and specialized wraps for items such as napkins and canceled checks. All products are crafted from high-quality Kraft paper and adhere to ABA standards when applicable. The company also offers custom imprinting services for most products, excluding basic bill bands and storage boxes. Pap-R Products Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60040) on March 3, 2025, listing up to $50 million in both assets and liabilities. The petition was signed by Kenneth Scott Ware as president. Larry E. Parres, Esq., at Lewis Rice LLC, serves as the Debtor's counsel. PEPPERMILL LIMITED: Creditors to Get Proceeds From Liquidation -------------------------------------------------------------- Peppermill Limited Partnership 1 and Pecan Acres Limited Partnership 1 filed with the U.S. Bankruptcy Court for the Western District of Louisiana a Disclosure Statement describing Plan of Liquidation dated June 6, 2025. Peppermill acquired the property on which their 120-unit apartment complex was built in August of 2005, thereafter built the roads, parking and buildings and related assets to operate the apartment complex. La Maison, owned by Pecan Acres Limited Partnership 1 was constructed in 1997 and consists of a 78-unit apartment complex. An agreement with Louisiana Housing Finance Agency ("Louisiana Housing") was signed by both Debtors that provides for requirements that a percentage of the units must be rented to tenants with low to moderate income and there are rent restrictions set by Louisiana Housing. The assets of the Debtors consist of an 120 unit apartment complex known as Peppermill, owned by Peppermill Limited Partnership 1 and a 78 unit apartment complex known as La Maison owned by Pecan Acres Limited Partnership 1, together with on-site offices, computers, furniture and fixtures and the rental income therefrom. The Debtors also hold security deposits for prepetition tenants in segregated bank accounts. On March 11, 2025, the Debtors filed for protection under Chapter 11 of the Bankruptcy Code. The Debtor was continued in possession pursuant to the presumptions allowed under Sections 1104 and 1107 of the Bankruptcy Code, although the pre-petition Keeper of the apartment complexes was allowed to continue to collect rents and pay expenses of the apartment complexes pending a sale of the two properties, known as Peppermill and La Maison (the complex owned by Pecan Acres Limited Partnership 1. The Debtors have recently been engaged in negotiations to sell the properties with a buyer who is qualified to operate the properties under the restrictions which currently encumber the property regarding rents and qualifications of approved lessees. This prospective buyer has provided evidence of ability to purchase from its lender. The range of the sale prices being discussed are $3 million for Pecan Acres and $5.6 million for Peppermill with the borrower to assume the LHC "soft loan" of approximately $2.4 million affecting Peppermill. The terms have not been agreed upon as of this writing, and negotiations continue. Contemporaneous with the filing of this Disclosure Statement, the Debtor has filed a Plan of Liquidation. Creditors are specifically referred to that Plan of Liquidation for the terms and conditions thereof. The Debtors' Plan envisions the sale of both apartment with the Plan. If the Plan being proposed by the Debtors-In-Possession is confirmed, Debtors believe that its secured creditors will be satisfied in full, and that its unsecured creditors will receive a dividend. The Debtor believes that the liquidation of assets under this Plan will enable it to best discharge its obligations to its creditors. Class 3 consists of Claims of Insider Unsecured Creditors. Class 3 consists of the claims of SQ, LLC and Tax Credit Development, LLC, insiders of the Pecan Acres which are owed a total of $517,550.00 for loans and advances to Pecan Acres over the past several years to cover operating losses. SQ, LLC and Tax Credit Development, LLC, insiders of Peppermill are owed a total of $1,432,882.00 for loans and advances to Peppermill over the past several years to cover operating losses. Class 4 shall consist of the equity security claims of the owner of the limited liability company interests, namely Tax Credit Development, LLC, whose ownership interests are owned by Ralph W. Brockman. The equity security holder's interests are subordinate to the claims of Classes 1 through 3 and shall not receive a distribution under the Plan unless Classes 1 through 3 are paid their Allowed Claims, in accordance with the Plan. The Debtor will sell the two apartment complexes through a Section 363 sale to one or more third parties, with the proceeds to be distributed to creditors as set forth in the order(s) approving such sale(s). Debtor is currently in negotiations with a purchaser who seek to purchase both apartment complexes, but the terms and price are not yet agreed upon. A full-text copy of the Disclosure Statement dated June 6, 2025 is available at https://urlcurt.com/u?l=wfaHdr from PacerMonitor.com at no charge. About Peppermill Limited Partnership 1 Peppermill Limited Partnership 1 filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Case No. 25-30282) on March 11, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge John W Kolwe presides over the case. Wade N. Kelly, Esq., at Packard Lapray, represents the Debtor as counsel. PERMACONN TOPCO: Cliffwater Corporate Marks $2.8MM Loan at 38% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,800,000 Australian dollar loan extended to Permaconn TopCo Pty. Ltd. to market at $1,722,442 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 Permaconn TopCo Pty. Ltd. The loan accrues interest at a rate of 9.42% per annum. The loan matures on July 20, 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 Permaconn TopCo Pty. Ltd. Permaconn has innovated critical connectivity to combine hardware and end-to-end IoT services into seamless experiences for its customers in over 2 million connected services. PIKE CORP: Moody's Alters Outlook on 'B2' CFR to Positive --------------------------------------------------------- Moody's Ratings affirmed Pike Corporation's ("Pike") B2 corporate family rating, its B2-PD probability of default rating, its Ba3 backed senior secured first lien bank credit facilities, and the B3 rating on its senior unsecured notes. The rating outlook is revised to positive from stable. RATINGS RATIONALE Pike's 2024 full year sales and Moody's adjusted EBITDA grew by 5.3% and 32.8% yoy, respectively. Growth was largely attributable to continued strength in its core services driven by utilities' capital spending, higher storm-related revenue, and the integration of the United Grid acquisition. While Moody's expects Moody's adjusted EBITDA to decline modestly in 2025 primarily due to margin normalizations from lower storm-related revenue, Moody's adjusted total leverage is forecasted to be in the 4.0x range by year end and Moody's expects the company to resume its earnings growth thereafter. Pike's credit profile is supported by the favorable industry fundamentals as utilities continue to focus on replacing aging infrastructure, modernizing and expanding the electricity grid, and outsourcing more engineering and construction services to third parties. The majority of Pike's sales are generated by smaller work orders under master service agreements ("MSAs"), which provide some revenue visibility and stability. Pike has demonstrated a strong track record of sales and earnings growth over the past ten years through a combination of M&A and organic initiatives. Management also has consistently maintained its leverage in the 4x to 5x range, consistent with Moody's expectations for the rating as well as management's leverage target commitment. Pike Corporation's credit profile is constrained by its limited end market diversity, predominantly providing engineering, construction, maintenance, repair, replacement, and upgrade work for electric utilities. Customer concentration and moderate scale relative to other rated peers further constrain the rating. Additionally, the rating also considers Pike's history of debt-funded acquisitions and dividend distributions. The positive ratings outlook reflects Moody's expectations that Pike will continue to generate strong credit metrics and resume its earnings growth following the expected margin and earnings normalization in fiscal 2025. Moody's expects Pike to continue benefiting from favorable macro industry trends in the medium term and maintain good customer relationships. The company's liquidity is supported by its available revolving credit facility and free cash flow generation over time. At the end of March 2025, the company had $151 million cash on hand and $228 million availability (after giving effect to ~$25 million of outstanding LCs) under its $253 million revolver. The revolver is subject to a 5.8x springing senior secured leverage covenant that is tested when utilization exceeds 25% of the commitment (excluding up to $20 million of non-cash collateralized L/Cs). Moody's expects Pike to satisfy the covenant testing. There are no term loan financial maintenance covenants. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company increases its scale and end market diversity, strengthens its cash generation as evidenced by RCF / Net Debt sustaining above 15%, while maintaining a Moody's adjusted leverage ratio below 4.0x. A downgrade could occur if deteriorating operating results, debt-financed acquisitions or shareholder distributions result in the company's leverage ratio being sustained above 5.5 x and RCF / Net Debt sustained below 10%. A weakening of its liquidity profile could also pressure the rating. Profile Headquartered in Charlotte, North Carolina, Pike Corporation provides installation, repair and maintenance and storm restoration services for investor-owned, municipal, and cooperative electric utilities and telecommunications companies in the United States. The company provides engineering and design services and constructs and maintains substations, underground and overhead distribution networks and transmission lines. Revenue for the twelve months ended March 2025 was approximately $3.0 billion. The principal methodology used in these ratings was Construction published in April 2025. 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. PINEY POINT: Amends JLL Real Claims Pay Details ----------------------------------------------- Piney Point 2023, LLC submitted a First Amended Combined Plan and Disclosure Statement dated June 6, 2025. The Debtor commenced this bankruptcy proceeding because of the pending foreclosure sale and the Debtor's belief that millions of dollars in equity exists in the apartment complex. During the bankruptcy proceeding the Debtor has completed the repair of the damages units and the units are substantially now occupied by tenants. Moreover, certain units suffered severe damage as a result of arson. The Debtor during the Chapter 11 has been repairing this units and such units will soon return into service. Class 1 consists of the Claim of JLL Real Estate Capital, LLC, as a Fannie Mae backed loan. The Debtor will sell the Apartment Complex on or before December 31, 2025, paying all allowed secured creditors from the proceeds of the sale on all amounts then outstanding in full on this Plan's Effective Date. The Debtor agrees that if it is unable to sell by December 31, 2025, this Plan will not go effective and the Debtor's bankruptcy proceeding will automatically be dismissed with prejudice. At all times the requisite insurance required under the secured creditor's loan documents with the Debtor must be maintained. The Debtor asserts that creditors in Class 1 are oversecured creditors. The Debtor has received multiple letters of intent from prospective purchasers to acquire the Apartment Complex in an amount that appears to be in excess of all Allowed Secured Claims and ad valorem property taxes. The Debtor is in the process of selecting a "stalking horse" purchaser. Upon such selection, the Debtor will promptly file one or more pleadings with the Court seeking authority to such sale and sales process. The Debtor reserves the right to make any such sale of the Apartment Complex under Section 363 and/or Section 1129 as further contained in such sale pleadings and the Confirmation Order. Likewise, the Debtor reserves the rights to amend/supplement this Plan. Creditors in Class 1 may not repossess or dispose of their collateral or otherwise proceed against the Debtor, its collateral and any guarantors, so long as Debtor is not in Material Default under the Plan (defined in Part 7(c)). Class 1 Allowed Secured Claims are unimpaired and are not entitled to vote on confirmation of the Plan as such claims will be paid in full on the Plan Effective Date. Kalkan Capital USA LLC, a Texas limited liability company is the sole Member of the Debtor. Dr. Fercan E. Kalkan is the sole member and manager of Kalkan Capital USA, LLC, a Texas limited liability company. Kalkan Capital USA LLC, a Texas limited liability company, shall retain its interest in the Debtor; however no distributions shall be made until all Allowed Claims have been paid in full. The Effective Date of the Plan is on or before December 31, 2025. On the Effective Date, Fannie Mae must be paid in full. If Fannie Mae has not been paid in full on or before December 31, 2025, the Plan shall not become effective and the case shall be automatically dismissed with prejudice to refiling as set forth herein and in the Confirmation Order. A full-text copy of the First Amended Combined Plan and Disclosure Statement dated June 6, 2025 is available at https://urlcurt.com/u?l=pAJMoz from PacerMonitor.com at no charge. About Piney Point 2023 Piney Point 2023, LLC is a single asset real estate company headquartered in Spring, Texas. Piney Point 2023 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-30128) on January 7, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by: Steven Douglas Shurn, Esq. Hughes Watters Askanase Total Energies Tower 1201 Louisiana, 28th Floor Houston TX 77002 Tel: (713) 590-4200 Email: sshurn@hwa.com POWIN ENERGY: Case Summary & 50 Largest Unsecured Creditors ----------------------------------------------------------- Lead Debtor: Powin Energy Storage 2, Inc. f/k/a Hecate Storage II, Inc. 20550 SW 115th Ave Tualatin, OR 97062 Business Description: Powin is a U.S.-based energy storage integrator that designs and delivers scalable battery systems for utility, commercial, and industrial applications. The Company provides hardware, software, and project execution services to support energy distribution and grid reliability. It operates globally with a focus on clean energy integration and long-term system performance. Chapter 11 Petition Date: June 22, 2025 Court: United States Bankruptcy Court District of New Jersey Three affiliates that concurrently filed voluntary petitions for relief under Chapter of the Bankruptcy Code: Debtor Case No. ------ -------- Powin Energy Storage 2, Inc. 25-16558 Powin Energy Ontario Storage II LP 25-16559 Powin Canada B.C. Ltd. 25-16560 Judge: Hon. Michael B Kaplan Debtors' General Bankruptcy Counsel: Lauren Macksoud, Esq. DENTONS US LLP 101 JFK Parkway Short Hills NJ 07078 Tel: (973) 912-7100 Email: lauren.macksoud@dentons.com Debtors' Conflicts & Efficiency Counsel: TOGUT, SEGAL & SEGAL LLP Debtors' Investment Banker: HURON TRANSACTION ADVISORY LLC Debtors' Claims Agent: KURTZMAN CARSON CONSULTANTS LLC Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $500,000 to $1 million The petitions were signed by Chad Paulson as authorized signatory. Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/PGNIE4A/Powin_Energy_Storage_2_Inc__njbke-25-16558__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/PAAB3ZA/Powin_Energy_Ontario_Storage_II__njbke-25-16559__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/PMTVQBY/Powin_Canada_BC_Ltd__njbke-25-16560__0001.0.pdf?mcid=tGE4TAMA Amended List of Consolidated Creditors Who Have the 50 Largest Unsecured Claims and Are Not Insiders: Entity Nature of Claim Claim Amount 1. Ace Engineering & Co., Ltd. Trade Debt $100,104,820 80, Sapyong-daero, Seocho-gu Seoul 06575 Republic of Korea Phone: (822) 578 0491 Email: chloe@acecontainer.com 2. Qingdao CIMC-POWIN Joint Venture $49,068,210 New Energy Technology Co., Ltd No.1 Huanghedong Road, China (Shandong) Pilot Free Trade Zone, Qingdao, P.R. Qingdao 266500 China Phone: +86 532 8676 7675 Email: info@cimc-powin.com 3. Contemporary Amperex Trade Debt $44,000,000 Technology Co., Limited (CATL) No.2 Xingang Road Zhangwan Town, Jiaocheng District, Ningde City, Fujian 352100 China Phone: +86 181 5087 9959 Email: RuanTF@catlbattery.com 4. Celestica LLC Contract $16,748,929 11 Continental Blvd, Manufacturer BLD 300 Suite 103 Merrimack, NH 03054 Phone: (416) 448-5800 Email: petem@celestica.com 5. Ameresco, Inc. / Customer $16,683,457 Kupono Solar, LLC Credits 111 Speen Street, #410 Framingham, MA 01701 Phone: 1-866-AMERESCO Email: mchiplock@ameresco.com 6. Clean Energy Services CES LLC EPC/Contractor $10,107,691 4201 Main Street Suite 299 Houston, TX 77002 Phone: (713) 714-0762 Email: accounts.receivable@cesrenewables.com 7. Formosa Electronic Contract $9,180,133 Industries Inc. Manufacturer 5F., NO8, Aly.130, Minquan Rd., Xindian Dist., New Taipei City 231, Taibei 23141 Taiwan Phone: +886 2 2218 8888 Email:kelvin.chen@feii.com.tw flora.zhang@feii.com.tw 8. Rubicon Professional EPC/Contractor $8,453,344 Services, LLC 3370 Chastain Gardens Drive Suite 220 Kennesaw, GA 30144 Phone: (770) 726-8975 Email: accounting@rubiconps.com 9. SMA America, LLC Contract $8,370,089 3925 Atherton Road Manufacturer Rocklin, CA 95677 Phone: (916) 625-0870 Email: ordermgmt@sma-merica.com 10. Mainfreight Air & Ocean Logistics Unknown Pty Ltd (Mechanics Lien) 154 Melrose Drive Tullamarine Melbourne VIC 3043 Australia Phone: +61 (3) 9330 6000 Email: lorraine.govender@mainfreight.com 11. JMS Wind Energy, Inc. EPC/Contractor $6,033,105 8022 S Rainbow Blvd. Ste 406 Las Vegas, NV 89139 Phone: (541) 483-0920 Email: julie@jmswindenergy.com 12. Experience Knowledge Master Supply $5,777,376 Strategy, S.L. Agreement AVDA. CAMAS 26 Bollullos De La Mitacion Seville 41110 Spain Phone: 0034954181521 Email: fronquillo@eksenergy.com 13. EBARA Densan (Qingdao) Contract $5,297,762 Technology Co.,Ltd. Manufacturer No.216, Shuangyuan Road, Chengyang District, Qingdao Shandong Province 266111 China Phone: 053289653367628 Email: dong.jiakun@edq-ebara.com 14. KPMG LLP Professional $4,586,591 3 Chestnut Ridge Road Services Montvale, NJ 07645 Phone: (503) 820-6809 Email: us-bkrdasc-ar@kpmg.com 15. Leader Energy Storage Customer Credits $4,285,714 Technology Co., Ltd 25F.-1, No. 238, Shizheng N. 2nd Rd., Xitun Dist., Taichung City 407607 Phone: 886 9201 81811 Email: cychuang@leadfar.com.tw 16. Contemporary Nebula Contract $4,252,505 Technology Energy Co., Ltd. Manufacturer No. 33 Xingyexi Road Mawei District Fuzhou City Fujian Province China Phone: 8615924148801 Email: xuezhen.lin@cntepower.com 17. GreEnergy Resources EPC/Contractor $3,522,202 108 Michelin Road Ardmore, OK 73401 Phone: (580) 68‑9534 Email: adam.fenner@greenergyresources.com 18. R.H. Shipping & Chartering Logistics $3,359,111 S De RL De CV Av. Paseo De La Reforma No. 222 Piso 15 Col. Juarez Alcaldia Cuauhtemoc Ciudad De Mexico C.P. Cam 06600 Mexico Phone: +52 (55) 1328 4301 Email: cobranza@rh-shipping.com 19. Qingdao CIMC Container Contract $3,265,143 Manufacture Co., Ltd Manufacturer No.1, East Huanghe Road Economic & Technological Development ZonE Qingdao China Phone: +86-0769-21667217 Email: haiming.li2021@cimc.com 20. Ultra Corpotech Private Trade Debt $3,215,744 Limited Plot No-Pap-A-4 Chakan Industrial Area Phase IV Village Nighoje Opp M & M Gate No- 3 Tal-Khed Talwade Chakan Road Pune Maharashtra 410501 India Phone: 919922929251 Email: vgoykar@ultracorpotech.com 21. Envision AESC US LLC Trade Debt $2,901,664 500 Battery Plant Road Smyrna, TN 37167 Phone: (615) 751-3322 Email: ken.srebnik@envision-aesc.com 22. Front Range–Midway Solar Trade Debt $2,854,975 Project, LLC (Naturgy) One Bush Street Suite 900 San Francisco, CA 94104 Contact: Farella Braun + Martel Phone: (415) 954-4940 Email: gkaplan@fbm.com 23. Pearce Services, LLC Contractor $2,671,092 1222 Vine Street Suite 301 Paso Robles, CA 93446 Phone: (805) 467-2528 Email: essnotifications@pearce-renewables.com 24. Spark Power Renewables EPC/Contractor $2,486,017 USA, Inc 4900 Diplomacy Road Fort Worth, TX 76155 Phone: (833) 775-7697 Email: AR@sparkpowercorp.com 25. Sonic Systems EPC/Contractor $2,390,368 International, LLC 1880 South Dairy Ashford Suite 207 Phone: (281) 531-7611 Email: ablock@sonicsystems.com 26. Hitachi Energy USA Inc. Vendor $2,276,963 901 Main Campus Drive Raleigh, NC 27606 Phone: (919) 856-3333 Email: us-pg-ar@hitachienergy.com 27. McKinsey & Company, Inc. Professional $1,600,000 United States Services 175 Greenwich Street 3 World Trade Center FL 60-64 New York, NY 10007 Phone: (212) 446 7000 Email: US_AR@mckinsey.com; info@mckinsey.com 28. Bergstrom China Trade Debt $1,269,530 28 AoYuan Road New District Changzhou, Jiangsu China, 213125 Phone: 8651968008000 Email: SShi@bergstrominc.com 29. Weifang Genius Electronics Trade Debt $1,239,871 Co., Ltd. No. 37 Fangtai Road Fangzi District Weifang City Shandong Province 261206 China Phone: (756) 400-6201 Email: daisy.yang@genius-gp.com 30. Ashbaugh Energy Consulting EPC/Contractor $1,222,341 530 Lakeside Road Fort Erie ON L2A 4Y1 Canada Phone: (905) 871-8000 Email: ashbaughenergy@gmail.com 31. Shanghai Hdmann Industry Trade Debt $1,093,534 Co., Ltd Room 1-912 No388 Xinfu Rd. Shanghai 201100 China Phone: 862133735789 Email: F5@hdmann.com 32. Crowe LLP Professional $1,011,288 320 E Jefferson Blvd. Services P.O. Box 7 South Bend, IN 46624-0007 Phone: (972) 365-3437 Email: arremitadv@crowe.com 33. Orr Protection EPC/Contractor $994,923 2100 Nelson Miller Pkwy Louisville KY 40223 Contact: Erica Khourjian Phone: (502) 244-4500 Email: opsaccounting@orrprotection.com 34. EnergyRE / Lone Star Customer Credits $986,997 Solar, LLC 1300 Post Oak Blvd Houston, TX 77056 - EnergyRE / Lone Star Solar, LLC 1519 King Street Ext Charleston, SC 29405 Contact: Rocio Guadalupe Mendoza Email: rocio.mendoza@energyre.com 35. Miller Nash Graham Professional $889,356 & Dunn LLP Services PO Box 3585 Portland, OR 97208 Phone: (503) 224-5858 Email: clientservices@millernash.com 36. Carel USA, INC Trade Debt $787,295 385 S Oak Street Manheim, PA 17545 Phone: (717) 664-0500 Email: accounts.receivable_usa@carel.com 37. Propeller Inc Professional $783,792 PO Box 6860 Services Portland, OR 97228 Phone: (919) 699-0137 Email: lvillarreal@propellerpdx.com 38. Specified Technologies Inc. Trade Debt $777,062 210 Evans Way Somerville, NJ 08876 Phone: (908) 526-8000 Email: AR@stifirestop.com 39. Building Automation Trade Debt $580,730 Products, Inc. 750 N. Royal Ave. Gays Mills, WI 54631 Phone: (608) 735-4800 Email: Accountsreceivable@bapisensors.com 40. Schneider Electric IT Vendor $568,116 Corporation 5081 Collections Center Drive Chicago, IL 60693-5081 Phone: (401) 789-5735 Email: Seitusacash.Applicationteam@Schneider- Electric.Com 41. RH Shipping & Chartering Logistics $544,832 (USA) LLC 400 N Sam Houston Pkwy East, Suite 1010 Houston, TX 77060 Phone: +52 33 8851 3180 ext. 1408 Email: mplascencia@rh-shipping.com 42. Mainz Brady Group, Inc. Vendor $500,900 PO Box 620375 Woodside, CA 94062 Phone: +1 650-524-8840 Email: accounting@mbg.com 43. McGuireWoods Consulting LLP Professional $483,585 800 East Canal Street Services Richmond, VA 23219 Phone: (804) 775-1000 Email: artaskforce@mcguirewoods.com 44. CEVA Logistics US, Inc. Logistics $469,350 15350 Vickery Drive Houston, TX 77032 Phone: 1-800-888-4949 Email: juanfernando.aguilar@cevalogistics.com 45. SIBA LLC Trade Debt $420,987 29 Fairfield Place Caldwell, NJ 0700 Phone: (973) 575-7422 Email: info@sibafuse.com 46. GLAS USA LLC Bank Loans/ $416,230 3 Second Street Administrative Suite 206 Services Jersey City, NJ 07311 Phone: (212) 808-3050 Email: clientservices.americas@glas.agency 47. Expeditors International of Logistics $409,327 Washington, Inc. 1015 Third Avenue Seattle, WA 98104 Phone: (503) 863-2678 Email: remit@expeditors.com 48. Huizhou Topband Electrical Contract $405,884 Technology Co., LTD Manufacturer No. 113 Dongxin AVE, Dongxin Block Dongjiang Hi-Tech Industrial Park, Zhongkai District Huizhou, Dongguang, 516006 China Phone: 8675527651888 Email: wuxr@topband.com.cn 49. Build AppliedLogix, LLC Trade Debt $400,756 3495 Winton Place, Building C Suite 2 Rochester, NY 14623 Phone: (585) 678-1027 Email: tduffy@appliedlogix.com 50. 8LOOP Logistics LLC Logistics $384,949 9432 Bradmore Lane Suite 204 Ooltewah, TN 37363 Phone: (909) 671-9537 Email: accounting@8looplogistics.com The Debtors will request that they be consolidated under the lead case Powin, LLC 25-16137 for procedural purposes only and jointly administered pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure. POWIN LLC: Files for Chapter 11 to Restructure Liabilities ---------------------------------------------------------- Powin LLC, a U.S.-based global energy storage integrator, said in a statement that it has voluntarily filed for Chapter 11 protection under the Bankruptcy Code in the District of New Jersey as part of a strategic effort to address financial liabilities and secure its core businesses. To position its core businesses for long-term success and continue delivering strong support to its customers, Powin will separate and form a new entity ("Powin Project LLC") ensuring ongoing service, greater focus, and more agile operations aligned with customer priorities. Built around Powin's core monitoring and engineering service operations, the new business will continue to deliver critical support services to customers with a strong foundation for sustainable growth. The service business has demonstrated consistent demand and operational strength, making it a natural anchor for the company's go-forward strategy ensuring asset support and optimization for its customers. To lead the new organization, Powin has appointed Brian Kane as CEO. Brian brings deep industry experience and a track record of business transformation. Brian has successfully led the Powin Projects organization for the last four years and will be responsible for guiding the business through its launch and scaling its operations while preserving Powin’s core service commitments. "This is a pivotal moment for Powin," said Brian Kane. "Forming this organization around our services business through this critical transition allows us to preserve the value we've built focus on delivering reliable performance to our customers and position the organization for long-term viability and success. I'm proud to lead this next chapter." About Powin, LLC Powin LLC is a U.S.-based global energy storage integrator on a mission to become the world's most trusted energy storage provider, enabling clean and reliable energy. With data-driven software controls, proven hardware, and experienced end-to-end project execution, Powin delivers scalable systems tailored to meet the needs of modern energy demand. Supported by a globally diversified, ethically sourced supply chain, Powin bolsters energy distribution to alleviate grid congestion, reduce costs, and strengthen aging infrastructure. Relentlessly focused on innovation and lasting value, Powin optimizes energy management, mitigates risk, and ensures predictable energy throughout the lifetime of its projects. On June 9, 2025 and June 10, 2025, Powin, LLC, and affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The cases are jointly administered under Bankr. D.N.J. Case No. 25-16137 before the Honorable Michael B. Kaplan. Powin is advised in this matter by Dentons as legal counsel, Uzzi & Lall as financial and restructuring advisor, and Huron as investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the claims agent, and maintains the page https://www.veritaglobal.net/powin PREDICTIVE ONCOLOGY: Faces Nasdaq Delisting Over Equity Deficiency ------------------------------------------------------------------ Predictive Oncology Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that because the Company had not regained compliance with the minimum $2,500,000 stockholders' equity requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(b)(1), the Staff determined to delist the Company's securities from The Nasdaq Capital Market. The Company was unable to complete its previously submitted plan of compliance within the 180-day extension period provided under the Listing Rules. Unless the Company requested an appeal of the Staff's determination by June 16, 2025, trading of the Company's common stock would be suspended at the opening of business on June 18, 2025 and a Form 25-NSE would be filed with the Securities and Exchange Commission, which would remove the Company's securities from listing and registration on the Nasdaq. The Company submitted a hearing request to Nasdaq's Hearings Panel, and the Panel received the Company's request, to appeal the Staff's determination, which will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. The Panel has discretion to take actions as prescribed by Nasdaq Listing Rule 5815(c)(1) including, but not limited to, granting an exception to the continued listing standards for a period not to exceed 180 days from the date of the Notice. However, there can be no assurance that the Company's request to continue listing will be accepted or that if it is, the Company will be able to maintain compliance with requirements for its continued listing on The Nasdaq Capital Market. The Company will continue to evaluate all available options to regain compliance with the listing requirements. 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. QUALITY FIRST: Hires Sternberg Naccari & White as Attorney ---------------------------------------------------------- Quality First Construction LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire Sternberg, Naccari & White, LLC to handle its Chapter 11 case. The firm received in trust a retainer in the aggregate amount of $21,400 from the Debtor. Ryan Richmond, Esq., an attorney at Sternberg, Naccari & White, will be paid at his hourly rate of $400 plus expenses. Mr. Richmond 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: Ryan J. Richmond, Esq. Sternberg, Naccari & White, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Telephone: (225) 412-3667 Facsimile: (225) 286-3046 About Quality First Construction LLC Quality First Construction LLC provides marine transportation, construction, and logistics services along the Gulf Coast. Its operations include coastal restoration, dredging, oil and gas support, emergency response and salvage, vessel repairs and maintenance, and environmental services. Founded in 2005, the Company operates a fleet of vessels and continues to invest in infrastructure and workforce development. Quality First Construction LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-11157) on June 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtors are represented by Ryan J. Richmond, Esq. at STERNBERG, NACCARI & WHITE, LLC. RADIOLOGY PARTNERS: S&P Rates Proposed $1.5BB Term Loan 'B-' ------------------------------------------------------------ S&P Global Ratings assigned its 'B-' rating and '3' recovery rating to Radiology Partners Inc.'s proposed $1.5 billion term loan due 2032, $800 million first-lien secured notes, and $390 million revolving credit facility. S&P said, "We expect the company will use the proceeds to repay its existing $1.5 billion term loan as well as its first-lien secured notes due 2029. The new $390 million revolving term loan will replace the super-priority and pari passu revolvers, improving the recovery for the senior secured debt marginally to 55% from 50%. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a default. Although the first-lien term facility will mature in 2032, the springing maturity will allow it to mature ahead of the company's second-lien notes due 2030. "The transaction will mean Radiology Partners will pay interest on the first-lien debt fully in cash because the new first-lien debt will replace the existing first-lien term loan and first-lien secured notes, which have a payment-in-kind (PIK) feature. Furthermore, the new capital structure will lower debt amortization. Although we expect the additional cash interest to hinder cash flow, we estimate the company has the ability to absorb it and continue to produce cash flow. In addition, the removal of the PIK feature on the first-lien debt will limit the loan balance accumulation. However, the second-lien senior secured notes will continue to have a PIK feature. "Our 'B-' rating and stable outlook on Radiology Partners Holdings LLC are unchanged, constrained by still-high interest expense and low, albeit modestly positive, cash flow generation. In contrast to the free operating cash flow deficits in 2022 and 2023, the company generated positive free cash flow in 2024, helped by the PIK interest, debt repayment, and EBITDA improvement. We expect it to generate sufficient free cash flow in 2025 to cover its entire interest burden (including PIK interest) but not reach the EBITDA trigger that would cause the PIK interest to turn into cash pay. We also do not think the company's annual discretionary cash flow, burdened with PIK interest payments and noncontrolling interest distributions, will rise above 2.5% of debt in 2025 or 2026." Issue Ratings - Recovery Analysis Key analytical factors -- Radiology Partners' capital structure will consist of a $390 million revolving credit facility, undrawn at close; a $1.5 billion first-lien term loan, $800 million of senior secured notes due, $721.6 million of second-lien notes, and $11 million of unsecured notes (not rated). -- In its simulated default scenario, S&P assumes the revolving facility will be 85% drawn at default. -- S&P said, "Given the continued demand for its services, we believe Radiology Partners would remain a viable business and would therefore reorganize rather than liquidate following a hypothetical payment default. Consequently, we used an enterprise value methodology to evaluate recovery prospects." -- S&P valued the company on a going-concern basis using a 5.5x multiple of our projected EBITDA at default, which is consistent with the multiple used for similar health care services companies. Simulated default assumptions -- Simulated year of default: 2027 -- EBITDA at emergence: $301 million -- EBITDA multiple: 5.5x -- Jurisdiction: U.S. Simplified waterfall -- Net enterprise value (after 5% administrative costs): $1.6 billion -- Collateral value available to secured creditors: $1.6 billion -- Secured first-lien debt: $2.7 billion --Recovery expectations: 50%-70% (rounded estimate: 55%) -- Total value available to unsecured claims: $0 million All debt amounts include six months of prepetition interest. RCM MANUFACTURING: Seeks Cash Collateral Access ------------------------------------------------ RCM Manufacturing Incorporated and affiliates ask the U.S. Bankruptcy Court for the District of Minnesota for authority to continue using cash collateral. The Debtors are engaged in the manufacture of roadway patchwork products, contracting with government and public agencies for patchwork services, and assembling specialized equipment. They previously received court approval for interim use of cash collateral, first authorized in April and extended in May 2025. Now, they seek continued use of these funds to cover essential operational costs. The cash collateral in question is claimed by several secured creditors, including Vermillion State Bank, the U.S. Small Business Administration, GM Financial, and Schwarze Industries LLC. The Debtors propose to use the cash collateral in accordance with detailed budgets to pay critical business expenses such as employee wages, payroll and sales taxes, utility bills, and payments to essential vendors. They also intend to make monthly interest payments to Vermillion State Bank (approximately $5,800) and the SBA ($2,427), beginning July 15, 2025. The Debtors expect to generate sufficient revenue through ongoing business operations to cover these expenses and maintain adequate protection for the secured parties. To safeguard the interests of secured creditors, the Debtors offer to provide post-petition replacement liens equal in priority to the prepetition liens. They also assert that the continued operation of the business protects the value of the collateral by preserving jobs, revenue, and enterprise value. A copy of the motion is available at https://urlcurt.com/u?l=nTkuMe from PacerMonitor.com. A hearing on the matter is set for June 26. About RCM Manufacturing Incorporated RCM Manufacturing Incorporated sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 25-30979) on April 4, 2025. In the petition signed by Franklin E. Connelly, president, the Debtor disclosed up to $1 million in assets and up to $500,000 in liabilities. Judge Katherine A. Constantine oversees the case. Brian A. Gravely, Esq., at Dudley and Smith PA, represents the Debtor as legal counsel. REAVIS REHAB: Unsecured Creditors Will Get 31.4% of Claims in Plan ------------------------------------------------------------------ Reavis Rehab & Wellness Center, Inc., filed with the U.S. Bankruptcy Court for the Western District of Texas a Disclosure Statement de4scribing Plan of Reorganization dated June 6, 2025. The Debtor was incorporated on August 29, 1994. It operates an outpatient rehabilitation center in Williamson County, Texas. The Debtor was formed on August 9, 1994, under the name Texas Health Services Network, Inc and then changed its name on October 10, 2007. Its principal place of business is in Round Rock, Texas. The Debtor has operated an Outpatient Rehabilitation Facility for 28 years, and does business as Reavis Rehabilitation Center. It is currently owned by Charise Boone. The Debtor is an Outpatient Rehabilitation Facility which has been in business for 28 years. The case was precipitated when the U.S. Treasury began intercepting government payments which caused the Debtor to be unable to pay its landlord. The Debtor filed its petition to prevent being locked out by the landlord. The Plan proposes to operate its business to generate funds to pay creditors over a five-year period. Class 7 consists of the holders of Allowed General Unsecured Claims totaling less than $500 who do not timely submit ballots containing an election to be treated as members of Class 8. The estimated claims in this class total $3,561.39. Members of this Class will be paid fifty percent of their claim amounts on the Effective Date. This will require a payment of $1,780.70. Class 7 is impaired. Class 8 shall consist of the holders of Allowed General Unsecured Claims who are not members of Class 7. The members of this class are estimated to total $159,070.16. Members of Class 8 will receive their pro rata shares of the following payments to be made by the Debtor on account of Class 8 Claims: a single payment of $50,000.00 seventy-two months after the Effective Date. This would equal a distribution of approximately 31.4%. Class 8 is impaired. Class 9 shall consist of the Equity Interest of the Debtor. The Class 9 Equity Interest shall be retained and preserved subject to payment of the Claims under the Plan. Class 9 is not impaired. The feasibility of the Plan depends on the Debtor's ability to execute its plan. The Debtor believes that its business plan is sound and that it will be able to generate the revenues projected. However, if there is insufficient demand for Debtor's services or if government programs are significantly reduced, the plan will not succeed. Creditors should consider the long term prospects in the healthcare industry. A full-text copy of the Disclosure Statement dated June 6, 2025 is available at https://urlcurt.com/u?l=zDLRFX from PacerMonitor.com at no charge. Counsel to the Debtor: Stephen Sather, Esq. Barron & Newburger P.C. 7320 N. Mopac Expressway, Ste. 400 Austin, TX 78731 Telephone: (512) 476-9103 Email: ssather@bn-lawyers.com About Reavis Rehab & Wellness Center Inc. Reavis Rehab & Wellness Center Inc. is a family-owned and operated therapy practice founded in 1984 specializing in the treatment of pain, injuries, and discomfort. The center offers a range of therapy programs provided by licensed physical, speech, and occupational therapists. Each treatment plan is tailored to meet individual patient goals, taking into account their symptoms, medical history, and any relevant health restrictions. Reavis Rehab & Wellness Center Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No.: 25-10126) on January 30, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Shad Robinson handles the case. The Debtor is represented by Stephen W. Sather, Esq. at BARRON & NEWBURGER, P.C. REBELLION POINT: Gets Extension to Access Cash Collateral --------------------------------------------------------- Rebellion Point Entertainment, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Greenville Division, to use cash collateral. The third interim order penned by Judge Pamela McAfee authorized the Debtor's use of cash collateral to pay the expenses set forth in its 30-day budget, which shows total expenses of $68,127. As protection for the Debtor's use of their cash collateral, Dogwood State Bank and creditors that may hold potential secured claims will receive a post-petition lien on the Debtor's cash and inventory similar to their pre-bankruptcy collateral. In addition, Dogwood State Bank will receive payment in the amount of $3,300 beginning on July 1. The Debtor's authority to use cash collateral will expire or terminate upon cessation of its business or non-compliance with or default of the terms and provisions of the third interim order. The next hearing is scheduled for July 10. Dogwood State Bank, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm, LLP 6230 Fairview Rd, Suite 315 Charlotte, NC 28210 Tel: (704) 362-9255 walt.pettit@hutchenslawfirm.com About Rebellion Point Entertainment Rebellion Point Entertainment, LLC, also known as East Coast Game Rooms, is a family-owned retailer and outfitter based in Kitty Hawk, N.C., with over four decades of experience in both residential and commercial entertainment spaces. It offers a wide selection of game room products including arcade machines, billiards, ping pong, shuffleboard, and custom furniture. It also provides rentals, delivery, installation, and repair services for customers in the Outer Banks and broader East Coast region. Rebellion Point Entertainment filed Chapter 11 petition (Bankr. E.D. N.C. Case No. 25-01352) on April 14, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. David M. Teague, company owner, signed the petition. Judge Pamela W. Mcafee oversees the case. William P. Janvier, Esq., at Stevens Martin Vaughn & Tadych, PLLC, represents the Debtor as legal counsel. RECORDED BOOK: Cliffwater Corporate Marks $1.4MM Loan at 36% Off ---------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,497,327 Australian dollar loan extended to Recorded Book, Inc. to market at $960,287 Australian dollar or 64% 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 Recorded Book, Inc. The loan accrues interest at a rate of 10.05% per annum. The loan matures on August 31, 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 Recorded Book, Inc. Recorded Books, Inc -- RBMedia -- is a digital audiobook and related spoken word content producer and a provider of digital content distribution through its recently acquired OverDrive business. RECORDED BOOK: Cliffwater Corporate Marks $362,000 Loan at 36% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $362,986 loan extended to Recorded Book, Inc. to market at $233,348 or 64% 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 Recorded Book, Inc. The loan accrues interest at a rate of 10.06% per annum. The loan matures on August 31, 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 Recorded Book, Inc. Recorded Books, Inc -- RBMedia -- is a digital audiobook and related spoken word content producer and a provider of digital content distribution through its recently acquired OverDrive business. RELIABLE SECURITY: Case Summary & Eight Unsecured Creditors ----------------------------------------------------------- Debtor: Reliable Security Staffing LLC 128 Whitaker Drive Stockbridge, GA 30281 Business Description: Reliable Security Staffing LLC provides security guard services across Georgia, serving clients in retail, corporate, residential, event, and construction sectors. Chapter 11 Petition Date: June 20, 2025 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 25-56853 Judge: Hon. Paul Baisier Debtor's Counsel: Mark D. Gensburg, Esq. JONES & WALDEN LLC 699 Piedmont Avenue NE Atlanta, GA 30308 Tel: 404-564-9300 Email: info@joneswalden.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million Latonya Long signed the petition as manager. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4XCUTKQ/Reliable_Security_Staffing_LLC__ganbke-25-56853__0001.0.pdf?mcid=tGE4TAMA ROCKRIDGE2016 LLC: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- Rockridge2016, LLC got the green light from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use the cash collateral of Computershare Trust Company. The court's order authorized the Debtor's interim use of cash collateral, which consists of proceeds and rents from the Debtor's real property in which Computershare holds a first priority lien. The Debtor intends to utilize the cash collateral to pay the operational expenses set forth in its budget, which projects total expenses of $12,303.99 for the period from June 23 to 30; $74,087.66 for the period from July 1 to 6; $599,280.18 for the period from July 7 to 13; $77,472.28 for the period from July 14 to 20; and $12,738.82 for the period from July 21 to 31. As protection for any diminution in value of its collateral, Computershare will be granted first priority senior replacement security interests in and liens on property of the Debtor and the proceeds thereof. In addition, Computershare will receive $372,000 this month as the Debtor's first "adequate protection" payment. The Debtor's authority to use cash collateral terminates on the date that is 50 days after June 12 unless a final order is entered prior to such date; or upon the occurrence of so-called events of default. These events of default include the Debtor's failure to comply with the interim order and the granting of any other claim superpriority status or a lien equal or superior to Computershare's prep-bankruptcy lien without prior approval from Computershare or the court. A final hearing is scheduled for July 18. The Debtor is indebted to Computershare pursuant to a promissory note with the original principal amount of $54 million. As security, Computershare was granted a first lien on the Debtor's real property, including all proceeds and rents generated by the property which constitute the secured creditor's cash collateral. About Rockridge2016 LLC Rockridge2016, LLC owns and operates Rockridge Place Apartments located at 16818 City View Place in Houston, Texas. Rockridge2016 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No.: 25-32047) on April 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $50 million and $100 million each. Judge Jeffrey P. Norman handles the case. James Q. Pope, Esq., at The Pope Law Firm is the Debtor's counsel. Computershare Trust Company, as secured creditor, is represented by: Michael P. Ridulfo, Esq. Kane Russell Coleman Logan, PC Sage Plaza 5151 San Felipe, Suite 800 Houston, TX 77056 Telephone: 713.425.7400 Facsimile: 713.425.7700 mridulfo@krcl.com -- and -- Gregory A. Cross, Esq. Laura S. Bouyea, Esq. Venable LLP 750 East Pratt Street, Suite 900 Baltimore, MD 21202 Telephone: 410.244.7400 Facsimile: 410.244.7742 gacross@Venable.com lsbouyea@Venable.com S&G HOSPITALITY: Seeks Cash Collateral Access Until Sept. 30 ------------------------------------------------------------ S&G Hospitality, Inc. and affiliates ask the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, for authority to use cash collateral and provide adequate protection, through September 30, 2025. The Debtors previously filed for Chapter 11 bankruptcy on August 18, 2023, and are operating their hotels in Central Ohio as debtors-in-possession. Since filing, the Court has authorized a series of interim and final orders allowing the Debtors to use cash collateral, each with associated budgets and adequate protection measures. Most of these extensions were achieved through stipulations with their primary secured creditor, RSS COMM2015-PC1-OH BL, LLC. However, recent negotiations with RSS became strained, leading to only a one-month extension being granted in early June 2025, which disrupted hotel operations. To avoid similar disruptions, particularly during the busy summer months, the Debtors are now seeking a three-month extension proactively. This would allow continuity in operations while the Court considers approval of the Debtors’ Second Amended Joint Plan of Reorganization and related Disclosure Statement. The Debtors emphasize that continued operations not only support their reorganization but also preserve the value of their hotels, which depend on staying open for ongoing revenue, especially from corporate clients. The Debtors argue that their proposed use of cash collateral meets legal requirements under Sections 361 and 363 of the Bankruptcy Code by offering sufficient adequate protection to secured creditors, including RSS, Itria, and the SBA. This protection includes cash payments, superpriority claims, and adequate protection liens. The Debtors currently have about $340,000 in cash and project profitability under the proposed budget. Additionally, the motion seeks three changes: allowing the Debtors to directly pay taxes and insurance (due to lack of transparency from RSS about escrowed funds), continuing the use of existing U.S. Bank accounts instead of Wells Fargo (which failed to open necessary accounts), and permitting the opening of a new segregated account for utility deposit purposes. These adjustments aim to improve operational control and transparency as the case moves forward. About S&G Hospitality Inc. S&G Hospitality, Inc. operates in the traveler accommodation industry. S&G Hospitality filed Chapter 11 petition (Bankr. S.D. Ohio Case No. 23-52859) on August 18, 2023, listing up to $10 million in assets and up to $1 million in liabilities. Abijit Vasani, president of S&G Hospitality, signed the petition. Judge Mina Nami Khorrami oversees the case. The Debtor is represented by David Alan Beck, Esq. at Carpenter Lipps & Leland LLP. S&S FOODS: Hires Law Offices of John F. Sommerstein as Counsel -------------------------------------------------------------- S&S Foods, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Law Offices of John F. Sommerstein as general bankruptcy counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties in the continued management and operation of its business and assets; (b) attend meetings and negotiate with representatives of creditors and other parties-in-interest and respond to creditors inquiries; (c) advise the Debtor regarding its ability to initiate actions to collect and recover property for the benefit of its estate; (d) advise and assist the Debtor in connection with any potential property disposition; (e) assist the Debtor in reviewing, estimating and resolving claims asserted against its estate; (f) negotiate and prepare on behalf of the Debtor a feasible plan of reorganization and all related documents; (g) prepare necessary legal documents necessary for the administration of the estate; and (h) perform all other bankruptcy-related legal services and provide all other legal advice to the Debtor that may be necessary and proper in this proceeding. John Sommerstein, the owner of the Law Offices of John F. Sommerstein, will be paid at his hourly rates of $475 plus reimbursement for expenses incurred. The firm requested a retainer in the amount of $15,000 from the Debtor. Mr. Sommerstein 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: John F. Sommerstein, Esq. Law Offices of John F. Sommerstein 1091 Washington Street Gloucester, MA 01930 Telephone: (617) 523-7474 About S&S Foods, Inc. S&S Foods, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11148) on June 4, 2025, with up to $50,000 in assets and liabilities. Judge Christopher J. Panos presides over the case. John F. Sommerstein, Esq., at the Law Offices of John F. Sommerstein represents the Debtor as bankruptcy counsel. SALEM POINTE: Seeks to Extend Plan Exclusivity to September 30 -------------------------------------------------------------- Salem Pointe Capital, LLC, asked the U.S. Bankruptcy Court for the District of Tennessee to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to September 30 and December 31, 2025, respectively. The DIP has made no secret that for there to be clarity about the terms of its Chapter 11 Plan, the appeal of the judgment liabilities of $241,500.00 and $3,266,598.00 in the Rarity Bay Partners vs. Salem Pointe Capital, LLC, Chancery Court Docket Number 19,943 case, should be concluded. Since the initiation of this case, DIP has reiterated its strategic timeline to emerge from Chapter 11 may be tied to the resolution of the appeal. Consistent with this timeline the DIP files this second motion to extend the exclusivity periods to file and solicit acceptances of a Plan until September 30, 2025 and December 31, 2025, respectively. The Debtor explains that it is not seeking an extension to delay the administration of this case or delay the payment of uncontested debts. Given the numerous challenging issues presented by the Chapter 11 process itself, the DIP has worked diligently to meet or seek a timely extension of all statutory deadlines. The DIP has satisfied all reporting requirements. The DIP has a good working relationship with the body of creditors, secured and unsecured, constituting undisputed claims. The DIP is working diligently to address concerns voiced by the United States Trustee's with the cash collateral budget. No secured creditor with an alleged interest in cash collateral has raised any issues or concerns with the cash collateral budget or with payment. The Debtor claims that it continues to pay its post-petition operating expenses, and secured creditor and lease obligations according to contract terms as they come due in the ordinary course of business in accordance with the Bankruptcy Code and Orders of this Court. All post-petition taxes and employee obligations are being paid when due. The Debtor states that creditors asserting an interest in cash collateral and Lessors receive their regular contractual payments pursuant to the Final Cash Collateral Order. None indicate an issue with this arrangement and the DIP anticipates their support of its Plan. Communications with BEP Rarity Bay, LLC are ongoing and productive. The DIP anticipates BEP Rarity Bay, LLC will support extension of the exclusivity period and assist in the formulation of a Plan that is both feasible and addresses its claims. The Debtor asserts that negotiation with Rarity Bay Partners will certainly be unproductive as evidenced by the pending Motion to Appoint Chapter 11 Trustee filed by Rarity Bay Partners and supported by Rarity Bay Community Homeowners Association. Upon information and belief, the sole motivation of Rarity Bay Partners and those supporting appointment of a chapter 11 trustee is to eradicate the DIP and competition through a forced, wholesale liquidation. Whether liquidation would provide any benefit to any other party in interest is questionable. The Debtor further asserts that the record before this court clearly evidences that the pressure is not from the DIP, instead pressure is being exerted by Rarity Bay Partners upon the DIP for appointment of a trustee. There is simply no evidence of any demands by the DIP or pressure on the creditors to submit to such demands. Prior to filing this bankruptcy, the DIP sought to engage in meaningful settlement negotiations with Rarity Bay Partners. Those efforts were ignored and rebuffed. The DIP continues to be open to negating alternative methods of achieving reorganization. Salem Pointe Capital, LLC is represented by: Brenda G. Brooks, Esq. James R. Moore, Esq. Moore & Brooks 6223 Highland Place Way, Ste. 102 Knoxville, TN 37919 Telephone: (865) 450-5455 Facsimile: (865) 622-8865 Email: bbrooks@moore-brooks.com About Salem Pointe Capital Salem Pointe Capital, LLC, is a financial services company that typically focuses on investment and capital management. Its operations include providing financing solutions, investment opportunities, and asset management to various sectors. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 24-31702) on Sept. 29, 2024, with $10 million to $50 million in both assets and liabilities. Judge Suzanne H. Bauknight oversees the case. The Debtor is represented by James R. Moore, Esq. at Moore & Brooks. SAY YES REALTY: Hires Russo White & Keller P.C. as Counsel ---------------------------------------------------------- Say Yes Realty of Birmingham, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to employ Russo, White & Keller, P.C. as counsel. The firm will provide these services: a. provide the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the continued management of its financial affairs and property; b. prepare on behalf of the Debtor necessary schedules, lists, applications, motions, answers, orders, and reorganization paperwork as is or may become necessary; c. review all leases and other corporate papers and other documents and prepare any necessary motions to assume unexpired leases or executory contracts and assist in preparation of corporate authorizations and resolutions regarding the Chapter 11 cases; and d. perform any and all other legal services for the Debtor as Debtor-in-Possession as may be necessary to achieve confirmation of a Chapter 11 plan. The firm will be paid at the rate of $350 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert C. Keller, Esq., a partner at Russo White & Keller, P.C., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert C. Keller, Esq. Russo White & Keller, P.C. 315 Gadsden Highway, Suite D Birmingham, AL 35235 Tel: (205) 833-2589 Email: rjlawoff@bellsouth.net About Say Yes Realty of Birmingham, LLC Say Yes Really of Birmingham, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-00943-TOM11) on June 4, 2025. In the petition signed by Alonzo McCruten, manager-member, the Debtor disclosed up to $500,000 in assets and up to $50,000 in liabilities. Judge Tamara O. Mitchell oversees the case. Robert C. Keller, Esq., at Russo, White & Keller, P.C., represents the Debtor as legal counsel. SHINECO INC: CEO, CFO Launch $2M Stock Purchase Program ------------------------------------------------------- Shineco, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Ms. Jennifer Zhan, the Company's chief executive officer, and Mr. Sai (Sam) Wang, the Company's chief financial officer, will jointly initiate a stock purchase program to purchase up to $2,000,000 of the Company's common stock, par value $0.001 per share at a price of up to $1.50 per share, reflecting their strong beliefs that the Common Stock is undervalued. Under the Stock Purchase Program, purchases of the Common Stock will be made in the open market and funded by Ms. Zhan and Mr. Wang's personal cash. The number of shares purchased under the Stock Purchase Program and the timing of any purchases may be based on many factors, including the level of the Company's general business conditions and the pricing of the Common Stock. About Shineco Inc. Headquartered in Beijing, People's Republic of China, Shineco, Inc. aims to 'care for a healthy life and improve the quality of life' by providing health and medical products and services to society. Shineco, operating through subsidiaries, has researched and developed 33 vitro diagnostic reagents and related medical devices to date, and the Company also produces and sells healthy and nutritious foods. Singapore-based AssentSure PAC, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Sept. 30, 2024, citing that the Company had net losses of approximately US$$24.3 million and US$14.0 million, and cash outflow of US$3.9 million and US$5.4 million from operating activities for the years ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and 2023, the Company had accumulated deficit of US$54.3 million and US$31.7 million, respectively, and as of June 30, 2024 and 2023, the Company had negative working capital of US$6.7 million and US28.9 million, respectively. These conditions raise substantial doubt about the Company's ability to continue as a going concern. SINTECMEDIA NYC: Cliffwater Corporate Marks $2.1MM Loan at 41% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,118,644 loan extended to SintecMedia NYC, Inc. to market at $1,248,051 or 59% 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 SintecMedia NYC, Inc. The loan accrues interest at a rate of 11.30% per annum. The loan matures on June 21, 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 SintecMedia NYC, Inc. SintecMedia YC, Inc. is the leading global provider of business management solutions designed to meet the dynamic and diverse needs of broadcasters. SOLUNA HOLDINGS: Gets $20M From Spring Lane for Project Kati Launch ------------------------------------------------------------------- Soluna Holdings, Inc. announced financing from Spring Lane Capital for a 35-megawatt phase of Project Kati, Soluna's 2nd behind-the-meter data center project. Spring Lane Capital, a private equity firm providing hybrid project capital for sustainability solutions, has entered into a term sheet to lead the financing round with a commitment of at least $20 million. Spring Lane Capital is also an investor in Projects Dorothy 1A and Dorothy 2 and has been an important supporter of Soluna's efforts to accelerate the convergence of renewable energy and high-performance computing. In addition, Spring Lane Capital and Soluna signed an agreement to extend up to $100M of additional project-level capital for Soluna's growing pipeline. John Belizaire, CEO of Soluna Holdings, stated, "Spring Lane Capital has been a trusted and strategic partner throughout our growth. We're proud to continue that momentum with Project Kati -- a partnership on a facility that marks an exciting new phase for Soluna, with multiple projects moving forward in parallel. This investment accelerates our ability to deploy scalable, clean, compute where the energy grid needs it most." "Soluna continues to be at the forefront of converting otherwise curtailed or wasted renewable energy into clean computing solutions, particularly for crypto mining and AI applications, at a time when we need it most," said Rob Day, Co-Founder and Partner, Spring Lane Capital. "We are proud to be an early and ongoing supporter of Soluna as they take another step toward sustainable high-performance computing and meeting green data center demand." * Soluna Unveils Initial Financing Plan for Project Kati 1: The financing will facilitate the construction of the first 35MW of the 83MW phase of Kati 1, which expands Soluna's Texas fleet for Bitcoin Hosting. * Financial Structure and Equity Ownership: Under the non-binding term sheet, Soluna expects to secure at least $20 million from SLC, fully covering the project's funding needs, including working capital. Kati 1 continues the superior waterfall structure and enhanced management and development fees, allowing Soluna to benefit from substantial current income during the construction and operational phases. * Construction Timeline: The parties intend to complete definitive documentation and commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026. * Capacity and Technology: The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs. * SLC's Expanded Financial Support: SLC and Soluna signed an agreement to extend up to $100M of additional project-level capital for Soluna's growing data center pipeline for Bitcoin and AI, subject to certain conditions precedent. * Fund 2 Investment: SLC is deploying capital from its second private equity fund, Spring Lane Capital Fund II, which is twice the size of its initial fund. The fund is lined up to provide up to $4 million in Development Expenditure (DevEx) financing for Soluna's long-lead equipment purchases. * Project Approvals: Kati 1 already has all the necessary ERCOT planning approvals. An ERCOT model update will be submitted at least 90 days before energization. "Our pipeline conversion rate is now higher than in previous years. With over 650 MW in our development phase, Spring Lane's continued support is more than welcome. We have now expanded beyond an idea –- using colocated data centers to solve curtailment –- to a burgeoning digital infrastructure platform," John Belizaire continued. In keeping with its tradition of honoring women scientists, Soluna named Project Kati after Katalin "Kati" Karikó, the pioneering Hungarian scientist whose groundbreaking work made mRNA-based therapies and modern vaccines possible. For more information, visit www.solunacomputing.com About Soluna Holdings Headquartered in Albany, N.Y., Soluna Holdings, Inc. designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. The Company's modular data centers can be co-located with wind, solar, or hydroelectric power plants and support compute-intensive applications, including Bitcoin mining, generative AI, and scientific computing. This approach aids in energizing a greener grid while providing cost-effective and sustainable computing solutions. Albany, N.Y.-based UHY LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Mar. 31, 2025, attached in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company was in a net loss, has negative working capital, and has significant outstanding debt that raise substantial doubt about its ability to continue as a going concern. As of June 30, 2024, Soluna Holdings had $98.68 million in total assets, $48.74 million in total liabilities, and $49.93 million in total equity. SOUTHWEST FT WORTH: Court Extends Cash Collateral Access to July 7 ------------------------------------------------------------------ Southwest Ft Worth Memory Care, LLC received second interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral to pay its operating expenses. The order penned by Judge Mark Mullin authorized the Debtor's interim use of cash collateral through July 7 in accordance with its monthly budget, which projects total operational expenses of $203,441.52 for June. PSF II Dutch Branch, LLC, a secured lender, asserts pre-bankruptcy liens on substantially all of the Debtor's assets, including cash and accounts. As protection, the lender was granted post-petition liens on the Debtor's assets (excluding Chapter 5 claims) and the proceeds thereof. In addition, the Debtor was ordered to keep the secured lender's collateral fully insured. The Debtor's authority to use cash collateral terminates upon dismissal or conversion of its Chapter 11 case; the appointment of a trustee or examiner; cessation of operations; non-compliance with or default by the Debtor of the terms of the order; the granting of claim or lien to another creditor that is equal or superior in priority; or the lifting of the automatic stay to allow any creditor to proceed against any asset of the Debtor valued at $75,000 or more. A final hearing is scheduled for July 7. About Southwest Ft Worth Memory Care Southwest Ft Worth Memory Care, LLC, doing business as Autumn Leaves of Cityview, is a U.S. senior-living operator that specializes exclusively in assisted-living and stand-alone communities for residents with Alzheimer's disease and other forms of dementia. Headquartered in Grapevine, Texas, Southwest designs, owns or manages purpose-built "Autumn Leaves" communities in Texas and Illinois, offering 24-hour nursing, dementia-trained staff, "Inspired Connections" life-engagement programs and on-site dining, salon and rehab services. Southwest sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-41419) on April 23, 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 Mark X. Mullin handles the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC is the Debtor's legal counsel. PSF II Dutch Branch, LLC, as secured lender, is represented by: Kevin M. Lippman, Esq. Munsch Hardt Kopf & Harr, P.C. 500 N. Akard Street, Suite 4000 Dallas, TX 75201-6659 Telephone: (214) 855-7565 Facsimile: (214) 978-5335 klippman@munsch.com SWEET TRUCKING: Hearing to Use Cash Collateral Set for June 25 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Tennessee is set to hold a hearing on June 25 to consider final approval of Sweet Trucking, Co., LLC's bid to use cash collateral. The Debtor's authority to utilize cash collateral pursuant to the court's June 12 order expires on June 30. The order approved the Debtor's interim use of cash collateral, which consists of monthly revenues, to pay its operating expenses, maintain its vehicles, and reorganize or sell its business interests. The Debtor was ordered to escrow the monthly payment of $14,996.28 to so-called merchant cash advance (MCA) lenders in the IOLTA account of the Debtor's counsel pending determination of their positions as lenders or owners of the Debtor's receivables or until further order of the court. The Debtor has purportedly granted security interests in all of its assets to App Funding Beta, Keystone Financials, and EBF Holdings, doing business as Everest Business Funding, to secure the payment of their purchase of its receivables in the amount of $49,124.46. If valid, these security interests cover the Debtor's revenue from the operation of its trucking business. About Sweet Trucking Co. LLC Sweet Trucking Co., LLC is a family-owned transportation company based in Knoxville, Tennessee, specializing in hauling heavy equipment locally and across state lines. The Company operates a fleet of trucks, tractors, and trailers and employs a team of drivers to manage logistics and transport. It provides various trailer types, including flatbeds, lowbeds, and gooseneck trailers, serving construction and industrial clients. Sweet Trucking Co. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bank. E.D. Tenn. Case No. 25-30765) on April 21, 2025, listing $1,293,647 in assets and $1,471,498 in liabilities. Gary Wayne Sweet, Jr., managing member of Sweet Trucking Co., signed the petition. Judge Suzanne H. Bauknight oversees the case. Keith Edmiston, Esq., at Clark & Washington, PC represents the Debtor as legal counsel. SYSOREX GOVERNMENT: Gets Final OK to Use Cash Collateral -------------------------------------------------------- Sysorex Government Services, Inc. received final approval from the U.S. Bankruptcy Court for the Southern District of New York to use cash collateral. The final order signed by Judge John Mastando III authorized the Debtor to utilize the cash collateral of its lenders in accordance with its budget. The lenders that assert interest in the cash collateral are the holders of 12.5% senior secured convertible debentures issued by the Debtor's parent, Sysorex, Inc., under a security agreement, dated July 7, 2021. Cavalry Fund I, LP serves as collateral agent for the lenders under the agreement. As protection, these lenders will be granted replacement liens on all existing property of the Debtor of any kind or nature including, but not limited to, the Debtor's cash, rents and income, and on post-petition property. The replacement liens on post-petition collateral will maintain the same priority, validity, and enforceability as each of the lenders' respective liens on the collateral. In the event that the replacement liens fail to provide the lenders with adequate protection, the lenders will have the right to assert a claim under Section 507(b) of the Bankruptcy Code. The Debtor's obligations to the lenders include, as of March 31, approximately $25,666,455 under the debentures. Cavalry asserts the indebtedness is secured by various liens granted by the Debtor on substantially all of its assets. Cavalry is represented by: Jonathan S. Pasternak, Esq. Craig M. Price, Esq. John D. Molino, Esq. Davidoff Hutcher & Citron LLP 605 Third Avenue New York, NY 10158 Telephone: (212) 557-7200 Facsimile: (212) 286-1884 jsp@dhclegal.com cmp@dhclegal.com jdm@dhclegal.com About Sysorex Government Services Inc. Sysorex Government Services, Inc. is a government IT solutions provider in Herndon, Va. Sysorex filed Chapter 11 petition (Bankr. S.D. N.Y. Case No. 25-10920) on May 5, 2025, listing up to $10 million in assets and up to $50 million in liabilities. A. Zaman Khan, president of Sysorex, signed the petition. Judge John P. Mastando III oversees the case. Ralph E. Preite, Esq., at Cullen and Dykman LLP, represents the Debtor as legal counsel. TELLICO RENTALS: Case Summary & Three Unsecured Creditors --------------------------------------------------------- Debtor: Tellico Rentals, LLC 1006 Cherohala Skyway Tellico Plains, TN 37385 Business Description: Tellico Rentals LLC offers cabin rental services in Tellico Plains, Tennessee. The Company provides a range of accommodations, including riverfront lodges, group cabins, and pet-friendly units near the Cherohala Skyway and Tellico River. Chapter 11 Petition Date: June 19, 2025 Court: United States Bankruptcy Court Eastern District of Tennessee Case No.: 25-31173 Judge: Hon. Suzanne H Bauknight Debtor's Counsel: Edward J. Shultz, Esq. TARPY, COX, FLEISHMAN & LEVEILLE, PLLC 1111 N Northshore Dr. Suite N-290 Knoxville, TN 37919 Tel: (865) 588-1096 Fax: (865) 588-1171 E-mail: eshultz@tcflattorneys.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mohit Mankad as manager. A copy of the Debtor's list of three unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TQS5H5Q/Tellico_Rentals_LLC__tnebke-25-31173__0003.0.pdf?mcid=tGE4TAMAkkklll, A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TLVN4XA/Tellico_Rentals_LLC__tnebke-25-31173__0001.0.pdf?mcid=tGE4TAMA TERRA DOLCI: Seeks to Hire Agentis PLLC as Counsel -------------------------------------------------- Terra Dolci, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Agentis PLLC as counsel. The firm will provide these services: a. advise the Debtor with respect to its powers and duties as debtor-in possession and the continued management of his affairs; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of 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 the Debtor and the estate in all matters pending before the Court; and e. represent the Debtor in negotiations with creditors in the preparation of a plan. The firm will be paid at these rates: Attorneys $315 to $710 per hour Paralegals $130 to $255 per hour The firm received from the Debtor an initial retainer of $50,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Charbonneau disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert P. Charbonneau, Esq. Agentis PLLC 45 Almeria Avenue Coral Gables, FL 33134 Tel: (305) 722-2002 Email: rpc@agentislaw.com About Terra Dolci, LLC Terra Dolci LLC, operating as Chef Adrianne's Vineyard Restaurant and Bar in Miami, offers Napa Valley-inspired fine dining with a focus on bold flavors. The menu features family-style beef short ribs slow-braised for 24 hours, a signature French onion soup rich with caramelized onions and melted cheese, indulgent white and dark chocolate bread puddings, and oversized cinnamon rolls. It is managed by chef and restaurateur Adrianne Calvo. Terra Dolci LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16293) on June 2, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtors are represented by Robert Charbonneau, Esq. at AGENTIS PLLC. TONIX PHARMACEUTICALS: Inks $150M ATM Sales Agreement with A.G.P. ----------------------------------------------------------------- Tonix Pharmaceuticals Holding Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a Sales Agreement with A.G.P./Alliance Global Partners, as sales agent, pursuant to which the Company may offer and sell, from time to time, through A.G.P., up to $150.0 million of shares of its common stock, par value $0.001 per share. The Company is not obligated to sell any shares under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, A.G.P. will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations and the rules of The Nasdaq Capital Market to sell shares from time to time based upon the Company's instructions, including any price, time or size limits specified by the Company. Upon delivery of a placement notice, and subject to the Company's instructions in that notice, and the terms and conditions of the Sales Agreement generally, A.G.P. may sell the Common Stock by any method permitted by law deemed to be an "at the market offering" as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. A.G.P.'s obligations to sell shares under the Sales Agreement are subject to satisfaction of certain conditions, including customary closing conditions. The Company will pay A.G.P. a commission of 3.0% of the aggregate gross proceeds from each sale of shares and has agreed to provide A.G.P. with customary indemnification and contribution rights. The Company has also agreed to reimburse A.G.P. for certain specified expenses. Thee shares of Common Stock will be offered and sold pursuant to the Company's effective shelf registration statement on Form S-3 (File No. 333-282270) filed by the Company with the U.S. Securities and Exchange Commission on September 20, 2024, and declared effective by the SEC on September 30, 2024, and the accompanying base prospectus included therein, as supplemented by the prospectus supplement, dated June 11, 2025, filed with the SEC. About Tonix Pharmaceuticals Chatham, N.J.-based Tonix Pharmaceuticals Holding Corp., through its wholly owned subsidiary Tonix Pharmaceuticals, Inc., is a fully integrated biopharmaceutical company focused on developing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. As of December 31, 2024, the Company had $162.9 million in total assets, $23.3 million in total liabilities, and $139.6 million in total stockholders' equity. Iselin, N.J.-based EisnerAmper LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 18, 2025, citing that the Company has continuing losses and negative cash flows from operating activities that raise substantial doubt about its ability to continue as a going concern. TONIX PHARMACEUTICALS: Signs $75M Equity Deal With Lincoln Park --------------------------------------------------------------- Tonix Pharmaceuticals Holding Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a purchase agreement dated as of June 11, 2025, with Lincoln Park Capital Fund, LLC, pursuant to which the Company will have the right, in its sole discretion, to sell to Lincoln Park up to $75 million of newly issued shares of Common Stock, subject to the satisfaction of the certain conditions set forth in the Purchase Agreement, from time to time during the term of the Purchase Agreement. The Purchase Agreement supersedes the prior purchase agreement between the Company and Lincoln Park, dated August 16, 2022. Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement, dated as of June 11, 2025 with Lincoln Park, pursuant to which it agreed to take certain actions relating to the registration under the Securities Act of 1933, as amended, of the offer and sale of the shares of Common Stock available for issuance under the Purchase Agreement. Beginning on the Commencement Date and thereafter, the Company has the right, in its sole discretion, to present Lincoln Park with a purchase notice, directing Lincoln Park to purchase up to such number of shares of Common Stock equal to the quotient obtained by dividing (i) $500,000 by (ii) the applicable Purchase Price, as defined in the Purchase Agreement provided that the closing sale price of the Common Stock on the purchase date is not below a threshold price set forth in the Purchase Agreement. If the closing sale price of the Common Stock on the applicable purchase date is not below $30.00, the Regular Purchase Amount may be increased to such number of shares of Common Stock equal to the quotient obtained by dividing (i) $750,000 by (ii) the applicable Purchase Price. If the closing sale price of the Common Stock on the applicable purchase date is not below $40.00, the Regular Purchase Amount may be increased to such number of shares of Common Stock equal to the quotient obtained by dividing (i) $1,000,000 by (ii) the applicable Purchase Price. The above-referenced limitations and closing sale price thresholds are subject to adjustment for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction as provided in the Purchase Agreement. The purchase price per share for each Regular Purchase will be based on prevailing market prices of the Common Stock immediately preceding the time of sale as computed in accordance with the terms set forth in the Purchase Agreement. There are no upper limits on the price per share that Lincoln Park must pay for shares of Common Stock under the Purchase Agreement. The Company may deliver a Regular Purchase Notice as frequently as every business day, subject to the satisfaction of the conditions set forth in the Purchase Agreement. Lincoln Park may not assign or transfer its rights and obligations under the Purchase Agreement or Registration Rights Agreement. If the Company directs Lincoln Park to purchase the maximum number of shares of Common Stock that the Company may sell in a Regular Purchase, then in addition to such Regular Purchase, and subject to certain conditions and limitations in the Purchase Agreement, the Company may direct Lincoln Park to purchase additional shares of Common Stock in an "accelerated purchase" (each, an "Accelerated Purchase") and an "additional accelerated purchase" (each, an "Additional Accelerated Purchase") (including multiple Additional Accelerated Purchases on the same trading day) as provided in the Purchase Agreement. The purchase price per share for each Accelerated Purchase and Additional Accelerated Purchase will be based on market prices of the Common Stock on the applicable purchase date for such Accelerated Purchases and such Additional Accelerated Purchases. The purchase price of Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring during the business days used to compute the purchase price. The aggregate number of shares that the Company can sell to Lincoln Park under the Purchase Agreement may in no case exceed 1,470,703 shares (subject to adjustment as described above) of the Common Stock (which is equal to approximately 19.99% of the shares of the Common Stock outstanding immediately prior to the execution of the Purchase Agreement), unless (i) stockholder approval is obtained to issue Purchase Shares above the Exchange Cap, in which case the Exchange Cap will no longer apply, or (ii) the average price of all applicable sales of the Company's Common Stock to Lincoln Park under the Purchase Agreement equals or exceeds $37.74 per share (which represents the lower of (A) the official closing price of of the Company's Common Stock on Nasdaq immediately preceding the execution of the Purchase Agreement and (B) the average official closing price of of the Company's Common Stock on Nasdaq for the five consecutive trading days immediately preceding the execution of the Purchase Agreement, adjusted such that the transactions contemplated by the Purchase Agreement are exempt from the Exchange Cap limitation under applicable Nasdaq rules). In all cases, the Purchase Agreement also prohibits the Company from directing Lincoln Park to purchase any shares of Common Stock if those shares, when aggregated with all other shares of Common Stock then beneficially owned by Lincoln Park (as calculated pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and Rule 13d-3 thereunder), would result in Lincoln Park beneficially owning more than 4.99% (which Lincoln Park may increase up to 9.99% upon 61 days' prior written notice to us) of the then total outstanding shares of Common Stock. The Company issued 48,708 shares of Common Stock to Lincoln Park as a commitment fee in connection with entering into the Purchase Agreement (the "Commitment Shares" and together with the Purchase Shares, the "Shares"). The Purchase Agreement contains customary representations, warranties, covenants, closing conditions and indemnification and termination provisions. Sales under the Purchase Agreement may commence only after certain conditions have been satisfied (the date on which all requisite conditions have been satisfied, the "Commencement Date"), which conditions include the delivery to Lincoln Park of a prospectus supplement covering the shares of Common Stock issued or sold by the Company to Lincoln Park under the Purchase Agreement, the filing with The Nasdaq Stock Market of a Listing of Additional Shares notification with respect to the Shares, and the receipt by Lincoln Park of a customary opinion of counsel and other certificates and closing documents. The Purchase Agreement may be terminated by the Company at any time, at its sole discretion, without any cost or penalty, by giving one business day notice to Lincoln Park to terminate the Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Common Stock. Although the Company has agreed to reimburse Lincoln Park for a limited portion of the fees it incurred in connection with the Purchase Agreement, the Company did not pay any additional amounts to reimburse or otherwise compensate Lincoln Park in connection with the transaction, other than the issuance of the Commitment Shares. There are no limitations on use of proceeds, financial or business covenants, restrictions on future financings (other than restrictions on the Company's ability to enter into substantially similar transactions described in the Purchase Agreement), rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement. The Company may deliver Purchase Notices under the Purchase Agreement, subject to market conditions, and in light of its capital needs from time to time and under the limitations contained in the Purchase Agreement. Any proceeds that the Company receives under the Purchase Agreement are expected to be used for working capital and general corporate purposes. The issuance of the Purchase Shares and Commitment Shares have been registered pursuant to the Registration Statement, and the related base prospectus included in the Registration Statement, as supplemented by a prospectus supplement to be filed on or around the Commencement Date. The Purchase Agreement and Registration Rights Agreement contain customary representations and warranties, covenants and indemnification provisions that the parties made to, and solely for the benefit of, each other in the context of all of the terms and conditions of such agreements and in the context of the specific relationship between the parties thereto. The provisions of the Purchase Agreement and Registration Rights Agreement, including any representations and warranties contained therein, are not for the benefit of any party other than the parties thereto and are not intended as documents for investors and the public to obtain factual information about the current state of affairs of the parties thereto. Rather, investors and the public should look to other disclosures contained in the Company's annual, quarterly and current reports it may file with the SEC. About Tonix Pharmaceuticals Chatham, N.J.-based Tonix Pharmaceuticals Holding Corp., through its wholly owned subsidiary Tonix Pharmaceuticals, Inc., is a fully integrated biopharmaceutical company focused on developing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. As of December 31, 2024, the Company had $162.9 million in total assets, $23.3 million in total liabilities, and $139.6 million in total stockholders' equity. Iselin, N.J.-based EisnerAmper LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 18, 2025, citing that the Company has continuing losses and negative cash flows from operating activities that raise substantial doubt about its ability to continue as a going concern. TRANSMEDCARE LLC: Gets OK to Use Cash Collateral Until July 23 -------------------------------------------------------------- TransMedCare, LLC received third interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral until July 23. The court order signed by Judge Tiffany Geyer authorized the Debtor to use its secured creditors' cash collateral for payroll, Subchapter V trustee payments and other operating expenses per an approved budget, with 10% variance per line item. The secured creditors include the U.S. Small Business Administration and holders of inferior position security interests in the Debtor's cash, accounts and cash equivalents. As protection for the use of their cash collateral, secured creditors were granted a post-petition lien on cash collateral, to the same extent and with the same validity and priority as their pre-bankruptcy liens. In addition, the Debtor was ordered to keep its property insured as further protection to secured creditors. The next hearing is set for July 23. The Debtor's cash collateral is comprised of cash on hand and funds to be received from sales during the Debtor's normal operations that are encumbered by the liens of secured creditors. As of the petition date, the Debtor owns cash and cash equivalents of approximately $50,724.36. About TransMedCare LLC TransMedCare, LLC specializes in long-distance non-emergency medical transportation services. It offers state-to-state and coast-to-coast transport, primarily for distances over 300 miles. Their services cater to individuals with medical needs, including the elderly, disabled, and post-surgical patients, ensuring safe and comfortable transfers between hospitals, nursing homes, assisted living facilities, hospice care facilities, or home to be with family. TransMedCare sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01162) on February 28, 2025. In its petition, the Debtor reported between $500,000 and $1 million in assets and between $1 million and $10 million in liabilities. Judge Tiffany P. Geyer handles the case. The Debtor is represented by: Justin M. Luna, Esq. Latham, Luna, Eden & Beaudine, LLP 201 S. Orange Avenue, Suite 1400 Orlando, FL 32801 Tel: (407) 481-5800 Fax: (407) 481-5801 Email: jluna@lathamluna.com TROPIC LEISURE: Case Summary & 10 Unsecured Creditors ----------------------------------------------------- Debtor: Tropic Leisure Corp 6200 Magens Bay Road St Thomas, VI 00802 Business Description: Tropic Leisure Corp operates a vacation resort in St. Thomas, U.S. Virgin Islands. The Company offers condominium-style accommodations and manages membership agreements that provide usage rights to its properties. Its operations are based near Magens Bay within the Great Northside. Chapter 11 Petition Date: June 19, 2025 Court: United States Bankruptcy Court District of Virgin Islands Case No.: 25-30003 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: $652,142 Total Liabilities: $1,789,181 Michael Shelby signed the petition in his capacity 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/QGH4W4Y/Tropic_Leisure_Corp__vibke-25-30003__0001.0.pdf?mcid=tGE4TAMA TRUNK ACQUISITION: Cliffwater Corporate Marks $4.5M Loan at 73% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,506,360 loan extended to Trunk Acquisition, Inc. to market at $1,228,913 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 Trunk Acquisition, Inc. The loan accrues interest at a rate of 10.45% per annum. The loan matures on February 19, 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 Trunk Acquisition, Inc. Trunk Acquisition, Inc. operates as a periodical publisher. USRP HOLDINGS: Cliffwater Corporate Marks $43.9MM Loan at 60% Off ----------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $43,927,214 loan extended to USRP Holdings, Inc. to market at $17,644,037 or 40% 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 December 31, 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 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. VALCOURT HOLDINGS: Cliffwater Corporate Marks $13M Loan at 24% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $13,463,112 loan extended to Valcourt Holdings II, LLC to market at $10,274,813 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 Valcourt Holdings II, LLC. The loan accrues interest at a rate of 10.32% per annum. The loan matures on November 21, 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 Valcourt Holdings II, LLC Valcourt Holdings II, LLC offers comprehensive building service offerings including window cleaning, facade restoration, waterproofing and building restoration, metal maintenance, and safety services. VALICOR PPC: Cliffwater Corporate Marks $653,000 Loan at 32% Off ---------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $653,366 loan extended to Valicor PPC Intermediate I LLC to market at $447,167 or 68% 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 Valicor PPC Intermediate I LLC. The loan accrues interest at a rate of 9.32% per annum. The loan matures on January 24, 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 Valicor PPC Intermediate I LLC PPC Intermediate I LLC is engaged in providing waste management solutions and services. VASTAV INC: Gets Final OK to Use Cash Collateral ------------------------------------------------ Vastav Inc. received final approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use the cash collateral of TransPecos Banks, SSB to fund its operating costs. The final order authorized the Debtor to utilize the secured lender's cash collateral, which consists of proceeds of accounts and revenues from the operations of the Debtor's business. The Debtor is the owner of AlphaGraphics #376, an AlphaGraphics franchisee in Carrollton, Texas. As protection for any diminution in value of its cash collateral, TransPeCOS will be granted replacement liens on all of the Debtor's equipment, inventory and accounts, whether such property was acquired before or after the petition date. The secured lender will also receive a superpriority claim allowed under Section 507(b) of the Bankruptcy Code against all assets of the Debtor (exclusive of avoidance actions) in case of any decrease in the value of its pre-bankruptcy collateral. As further protection, TransPeCOS will receive a monthly payment of $7,500. The Debtor's authority to use cash collateral terminates upon the occurrence of so-called events of default, including failure to comply with the terms of the final order; failure to timely remit payments; and the filing by the Debtor of a challenge to the secured lender's pre-bankruptcy liens. As of the petition date, the Debtor owed $1,035,263.16 to TransPeCOS in connection with the loan it obtained from the lender. The loan is secured by the Debtor's assets including accounts receivable, which constitutes the secured lender's cash collateral. About Vastav Inc. Vastav Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41211) on April 2, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Pratul Kumar, president of Vastav, signed the petition. Judge Martin X. Mullin oversees the case. Robert T. DeMarco, Esq., at DeMarco Mitchell, PLLC, is the Debtor's legal counsel. TransPecos Banks, SSB, as secured lender, is represented by: Morris D. Weiss, Esq. Kane Russell Coleman Logan, PC 401 Congress Ave., Suite 2100 Austin, TX 78701 Telephone: (512) 487-6650 mweiss@krcl.com VCR COMPANIES: Cliffwater Corporate Marks $5MM Loan at 19% Off -------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,000,001 loan extended to VRC Companies, LLC to market at $4,055,857 or 81% 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 VRC Companies, LLC. The loan accrues interest at a rate of 9.55% per annum. The loan matures on June 29, 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 VRC Companies, LLC VRC COMPANIES, LLC d/b/a VITALCHART owns a medical record retrieval software that lets patients request records without hospital visits or follow-up calls. VELUXE LLC: Gets Extension to Access Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division entered a second interim order authorizing Veluxe, LLC to continue using cash collateral. The order authorized the Debtor's interim use of cash collateral to pay the amounts expressly authorized by the court, including payments to the U.S. Trustee for quarterly fees; the expenses set forth in its budget, plus an amount not to exceed 10% for each line item; and additional amounts approved by Huntington National Bank. This authorization will continue until further order of the court. As protection, Huntington and other secured creditors will be granted a post-petition lien on the cash collateral to the same extent and with the same validity and priority as their pre-bankruptcy lien. As further protection to Huntington, the Debtor was ordered to continue its monthly payments of $3,000 to the bank. The Debtor was also ordered to keep its property insured in accordance with its loan agreement with the bank. A final hearing is scheduled for July 24. As of the petition date, the Debtor's assets include approximately $20,000 on deposit in its checking account, and limited physical assets worth no more than $60,000.00. However, the Debtor is operating and generating revenue each month. Huntington National Bank is in first lien position with respect to the cash collateral. Huntington National Bank is represented by: Michael A. Tessitore, Esq. Moran Kidd Lyons Johnson Garcia, P.A. 111 N. Orange Ave., Suite 900 Orlando, FL 32801 Phone: 407-841-4141 Fax: 407-841-4148 mtessitore@morankidd.com About Veluxe LLC Veluxe, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01212) on April 17, 2025, listing up to $50,000 in assets and between $500,001 and $1 million in liabilities. Judge Jason A. Burgess oversees the case. Byron Wright, III, Esq., at Bruner Wright, P.A. is the Debtor's legal counsel. VENSURE EMPLOYER: Cliffwater Corporate Marks $37.3M Loan at 76% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $37,315,724 loan extended to Vensure Employer Services, Inc. to market at $8,782,794 or 24% 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 Vensure Employer Services, Inc. The loan accrues interest at a rate of 9.30% per annum. The loan matures on September 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 Vensure Employer Services, Inc. Vensure Employer Services, Inc. provides business process outsourcing services. The Company offers employee and employer-related administration services and benefits such as PEO, payroll, and HR services, back office, workers compensation, as well as time and attendance. VENTURE GLOBAL: Moody's Ups Rating on Senior Secured Notes to Ba1 ----------------------------------------------------------------- Moody's Ratings upgraded the rating assigned to Venture Global Calcasieu Pass, LLC's (VGCP) senior secured notes to Ba1 from Ba2. Concurrent with the upgrade, the rating outlook has been revised to stable from positive. RATINGS RATIONALE The upgrade takes into consideration the completion of corrective work relating to VGCP's power island and pre-treatment systems and the declaration of commercial operability under all existing Sale and Purchase Agreements (SPA's). As such, VGCP is now operating under the parameters of six separate 20-year foundation SPA's totaling 8.5 MTPA of liquefaction capacity and two separate medium-term SPA's totaling 1.5 MTPA. Each SPA requires the offtaker to make a fixed payment to VGCP that partially escalates annually by inflation and a variable LNG production based payment equal to 115% of month-end Henry Hub futures prices when LNG is delivered. Contracted fixed payments under the foundation SPAs total approximately $850 million per year (and in excess of $1.0 billion including the medium-term SPA's), which compares favorably to expected operating and financing costs, and are payable regardless of whether the counterparties lifts cargoes. The variable payment is structured primarily to cover VGCP's cost of sourcing the natural gas feed plus certain variable operating expenses. The six foundation SPA's are mostly similar and, among other things, transfer title of the LNG to the offtaker at VGCP's marine facility on a free on-board basis. The weighted average credit profile of the six off-takers under the foundation SPAs is high Baa/low A. In terms of volume and revenue, the most significant are BP Gas Marketing Ltd (not rated), whose obligations are guaranteed by BP International Limited (not rated), which is owned by BP p.l.c. (A1, stable) and Shell NA LNG, LLC, guaranteed by Shell USA, Inc. (Aa3, stable). Other off-takers or guarantors include ORLEN S.A. (PKN ORLEN, A3 stable), Edison S.p.A (Baa3, stable), Repsol LNG Holdings (not rated), which is owned by Repsol S.A. (Baa1, stable) and Galp Trading, S.A. (not rated). VGCP has contracted an incremental 1.0 MTPA under a three-year, take-or-pay SPA with Unipec (not rated), a subsidiary of Sinopec (A1, negative), and 0.5 MTPA under a five-year take-or-pay SPA with CNOOC Gas and Power Singapore Trading and Marketing Pte. Ltd. (not rated), an affiliate of China National Offshore Oil Corporation (CNOOC Group: A1, negative). While VGCP has been producing and loading commissioning cargos since 2022, corrective work largely focused on VGCP's power island has been completed enabling the project to successfully complete a required Lender Reliability Test while loading cargoes for all contractual counterparties without any mechanical or operating issues. The Lender Reliability Test demonstrates that overall production can meet the minimum cumulative LNG production volumes without exceeding a maximum amount of allowable downtime. The rating is constrained at the current rating level by uncertainty around the potential for significant adverse awards under arbitration proceedings sought by seven of VGCP's customers relating to their view that VGCP delayed in declaring the project commercially operable. VGCP disagrees with the assertions in each request for arbitration, citing that commercial operation could not have been completed until all of the facilities, including the power island, had been completed and commissioned. Arbitration proceedings in accordance with the dispute resolution procedures of the SPA have started with an expectation that certain tribunals may issue rulings in late 2025. Contract damages sought by customers are in excess of $1.0 billion. Absent the uncertainty around the outcome of the arbitration, VGCP has investment-grade credit quality characteristics. RATING OUTLOOK VGCP's stable outlook incorporates an expectation for continued strong operational and financial performance, including the generation of annual EBITDA of approximately $700 million under existing contractual arrangements. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS A degree of certainty that financial outcomes relating to the ongoing arbitration sought by VGCP's long-term customers would be manageable combined with strong operating performance and incremental debt reduction from current levels could trigger upward rating movement. A material negative outcome relating to the arbitration or failure to meet key operating and financial parameters could trigger rating pressure. Venture Global Calcasieu Pass, LLC (VGCP) is primarily engaged in the natural gas liquefaction and export-related businesses, including owning and operating an LNG export facility consisting of 18 midscale, modular liquefaction trains, with an aggregate nameplate capacity of 10.0 MTPA of LNG and permitted liquefaction capacity of 12.4 MTPA. VGCP is majority owned by Venture Global LNG, Inc. (VGLNG: B1 CFR, positive outlook). The principal methodology used in these ratings was Generic Project Finance published in October 2024. 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. VENUS CONCEPT: EW Healthcare Partners, 3 Others Hold 21.6% Stake ---------------------------------------------------------------- EW Healthcare Partners, L.P., EW Healthcare Partners-A, L.P., Essex Woodlands Fund IX-GP, L.P., and Essex Woodlands IX, LLC disclosed in a Schedule 13D (Amendment No. 15) filed with the U.S. Securities and Exchange Commission that as of June 9, 2025, they beneficially owned an aggregate of 485,689 shares of common stock of Venus Concept, Inc., representing 21.6% of the shares outstanding. The change in ownership percentage resulted from an increase in the number of shares of common stock outstanding, as disclosed in the filing. EW Healthcare may be reached through: R. Scott Barry 21 Waterway Avenue, Suite 150 The Woodlands, TX 77380 Tel: (281) 364-1555 A full-text copy of EW Healthcare's SEC report is available at: https://tinyurl.com/4f2nxh5d 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. VENUS CONCEPT: Madryn Asset and Affiliates Hold 8.6% Stake ---------------------------------------------------------- Madryn Asset Management, LP; Madryn Health Partners, LP; Madryn Health Partners (Cayman Master), LP; and Madryn Health Advisors, LP disclosed in a Schedule 13D (Amendment No. 7) filed with the U.S. Securities and Exchange Commission that as of June 9, 2025, they beneficially owned an aggregate of 174,735 shares of Venus Concept Inc.'s common stock, par value $0.0001 per share, representing approximately 8.6% of the outstanding shares. Madryn Asset Management, LP may be reached through: Matthew Girandola, Chief Compliance Officer 330 Madison Avenue, Floor 33 New York, NY 10017 Tel: (646) 560-5490 A full-text copy of Madryn Asset's SEC report is available at: https://tinyurl.com/4w5fyzp7 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. VENUS CONCEPT: Orca Capital Holds 4.9% Stake as of June 6 --------------------------------------------------------- Orca Capital AG disclosed in a Schedule 13G (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of June 6, 2025, it beneficially owned 101,748 shares of Venus Concept Inc.'s common stock, par value $0.001 per share, representing 4.9% of the 1,859,123 shares outstanding, based on the Company's post-offering disclosure. These shares exclude 115,612 shares issuable upon exercise of warrants, which are subject to a 4.99% beneficial ownership blocker. Orca Capital AG may be reached through: Thomas Konig, Director Sperlring 2 85276 Hettenshausen, Germany 498441 78644 14 A full-text copy of Orca Capital AG's SEC report is available at: https://tinyurl.com/39uw25mz 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. VERITAS FARMS: Board Chair Thomas Vickers Named Interim CEO ----------------------------------------------------------- Veritas Farms, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Jeremy White notified the Chairman of the Board of Directors of the Company of his decision to step down as Chief Executive Officer of the Company effective June 21, 2025. Except for certain restrictive covenants, including non-disclosure, non-compete, and non-solicitation covenants, contained in the Employment Agreement dated March 17, 2025 between the Company and Mr. White, the Employment Agreement terminated effective June 21, 2025. On June 11, 2025, the Company's Board of Directors appointed Thomas E. Vickers, Chairman of the Board, as Interim Chief Executive Officer effective June 21, 2025, until a permanent successor Chief Executive Officer is appointed. The Board of Directors of the Company intends to conduct a search for potential candidates to replace Mr. White. Mr. Vickers, age 61, has served as a director of the Company since October 2020, as Chairman of the Board since May 2021, as Interim Chief Executive and Interim President from November 2022 to March 2025, and as Interim Chief Financial Officer since November 2023 and he will continue in those roles. Mr. Vickers is a highly accomplished corporate finance and operations executive with over 35 years of business experience. Since December 2019 Mr. Vickers has served as the President and Founder of Stack Financial, Inc., which provides family office, CFO on demand, finance, and accounting services to various long-term and short-term contracts. Mr. Vickers has previously held senior executive financial and operational positions such as Chief Financial Officer and SVP of Human Resources at OmniComm Systems, Inc; Vice President of Finance of OmniComm Systems, Inc; Vice President of Operations at S & J; Vice President, Financial Operations at Precision Response Corporation; and Director of Servicing Operations and Controller at Ocwen Financial Corporation. Mr. Vickers received both a B.B.A. in Finance and a B.B.A. in Accounting from Florida Atlantic University and earned his M.B.A. in Finance from the University of Miami. Additionally, Mr. Vickers received his Master of Taxation (M.T.X.) degree from Florida Atlantic University and is a Chartered Financial Analyst Charterholder. While serving as Interim Chief Executive Officer, Mr. Vickers will receive no additional compensation. Mr. Vickers will be considered an employee-at-will and is not subject to a separate employment agreement. There are no family relationships between Mr. Vickers and any other director or executive officer of the Company. There are no understandings or arrangements between Mr. Vickers and any other person pursuant to which Mr. Vickers was appointed as Interim Chief Executive Officer and President of the Company. Mr. Vickers has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Act of 1933, as amended. About Veritas Fort Lauderdale, Florida-based Veritas Farms, Inc. -- https://www.TheVeritasFarms.com/ -- is a vertically-integrated agribusiness focused on growing, producing, marketing, and distributing whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids. Veritas Farms owns and operates a 140-acre farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Hackensack, NJ-based Prager Metis CPAs LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company has sustained substantial losses from operations since its inception. As of and for the year ended Dec. 31, 2022, the Company had an accumulated deficit of $39,474,622, and a net loss of $5,543,908. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern within a year from the date the financial statements are issued. Continuation as a going concern is dependent on the ability to raise additional capital and financing, though there is no assurance of success. The Company has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2024. VIEWBIX INC: Eliyahu Yoresh Replaces Yoram Baumann as Board Chair ----------------------------------------------------------------- Viewbix Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Yoram Baumann, Chairman of the Board of Directors, tendered his resignation from the Board, effective immediately. Mr. Baumann's resignation from the Board was not due to any disagreement with the Company, the Board or the management of Viewbix on any matter relating to the Company's operations, policies, practices or otherwise. The Board resolved to appoint Eliyahu Yoresh, who has been a member of the Board since September 2022, as the non-executive chairman of the board, effective concurrently with Mr. Baumann's resignment. Mr. Yoresh will receive the same compensation as the other non-executive members of the Board. The Company's directors' compensation program is set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2024. As previously disclosed, the Board has affirmatively determined that each of Mr. Eliyahu Yoresh, Mr. Liron Carmel and Mr. Alon Dayan qualifies as an independent director in accordance with the rules of the Nasdaq Stock Market LLC. As such, following Mr. Baumann's resignation from the Board, the Board is comprised of a majority of independent directors. Additionally, on June 9, 2025, the Board resolved to initiate a process to identify and explore potential new business opportunities, investments and activities in a variety of new sectors. About Viewbix Headquartered in Ramat Gan, Israel, Viewbix and its subsidiaries, Gix Media and Cortex Media Group Ltd., operate in the field of digital advertising. The Group has two main activities that are reported as separate operating segments: the search segment and the digital content segment. The search segment develops a variety of technological software solutions, which perform automation, optimization, and monetization of internet campaigns, for the purposes of obtaining and routing internet user traffic to its customers. The search segment activity is conducted by Gix Media. The digital content segment is engaged in the creation and editing of content, in different languages, for different target audiences, for the purposes of generating revenues from leading advertising platforms, including Google, Facebook, Yahoo and Apple, by utilizing such content to obtain and route internet user traffic for its customers. The digital content segment activity is conducted by Cortex. Tel Aviv, Israel-based Brightman Almagor Zohar & Co., the Company's auditor since 2012, issued a "going concern" qualification in its report dated March 21, 2025, citing that the decrease in revenues and cash flows from operations may result in the Company's inability to repay its debt obligations during the 12-month period following the issuance date of these financial statements. These conditions raise a substantial doubt about the Company's ability to continue as a going concern. VIRGINIA BEACH: Unsecureds Will Get 26% of Claims over 5 Years -------------------------------------------------------------- Virginia Beach Patios Inc. filed with the U.S. Bankruptcy Court for the Eastern District of Virginia a Plan of Reorganization for Small Business dated June 5, 2025. The Debtor is a Virginia Corporation formed on January 27, 2019. The Debtor has been in the business of outdoor designs and development. In 2022, the Debtor experienced a significant financial setback due to theft by a contractor it hired, resulting in a loss of nearly $200,000. It pursued legal action and successfully obtained a judgment, the contractor fled the state, and the Debtor was ultimately unable to recover any of the funds. This unexpected and unrecoverable loss forced it to seek alternative ways to keep the business operational. After careful consideration, the Debtor made the decision to file for Chapter 11 Subchapter V bankruptcy. This path will allow it to reorganize and restructure the company's debt in a manageable way while continuing to operate. The Debtor believes this decision is in the best interest of the business, it's clients, and partners. By addressing its financial obligations through a court-supervised process, it can focus on rebuilding stronger, streamlining operations, and returning to profitability with a renewed foundation. Allowed non-priority unsecured claims shall be paid pro rata from any distribution remaining after disbursement to allowed secured and priority claims. Estimated distribution is approximately 26%. The dividend percentage may vary depending on actual claims filed. If this case were liquidated under Chapter 7, the debtor(s) estimate that unsecured creditors would receive a dividend of approximately 0%. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $6,475.00 (Monthly). The final Plan payment is expected to be paid on July 15, 2030. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $6,475.00/month for 5 years, totaling $388,500.00 (rounded). This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately $0.26 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured creditors. The debtor will make quarterly disbursements on a pro-rata basis of $19,425.00 for a period of 5 years, resulting in a total of 20 disbursements. The the first 4 disbursements will be Administrative claims, Priority claim and the Fora Bifurcated Secured portion of claim. Disbursements on the unsecured claims will be made on a prorate basis as shown in the proposed payout in the attached Exhibit C. The quarterly amount to be disbursed to unsecured claims will be $15,450.00 per quarter and will be paid prorate. Class 4 consists of Equity security holders of the Debtor. Upon confirmation of the Plan, the Debtor's interest in all of its assets shall revest in the Debtor and will not be subject to the claim of any credits, except confirmation of this Plan will not effect he rights or security interest of The Small Business Administration. Angela Rose, the sole shareholder shall retain ownership, but will not receive any disbursements during the 5-year repayment period other than her salary. The Debtor will be able to afford the payments proposed herein based on the income to be received from the net income to be received from work completed pursuant to the business operations. A full-text copy of the Plan of Reorganization dated June 5, 2025 is available at https://urlcurt.com/u?l=3oEhHy from PacerMonitor.com at no charge. Counsel to the Debtor: John E. Bedi, Esq. Carolyn A. Bedi, Esq. Bedi Legal, P.C. 1305 Executive Blvd., Ste. 110 Chesapeake, VA 23320 Tel: (757) 222-5842 Fax: (757) 671-1682 Email: carolyn@bedilegal.com john@bedilegal.com About Virginia Beach Patios Inc. Virginia Beach Patios, Inc. is a family-owned contractor specializing in designing and building custom outdoor living spaces, including custom pools, outdoor kitchens, fire features, or artistic structures. The Company is committed to delivering high-quality craftsmanship and creating functional, beautiful environments that enhance the homeowner's outdoor experience. With personalized service and innovative designs, the Company transforms ordinary yards into extraordinary outdoor retreats. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-70478) on March 7, 2025. In the petition signed by Angela Marie Rose, president, the Debtor disclosed $186,926 in assets and $1,233,715 in liabilities. Carolyn Bedi, Esq., at Bedi Legal, P.C., represents the Debtor as bankruptcy counsel. VISIONARY BUYER: Cliffwater Corporate Marks $28MM Loan at 73% Off ----------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $28,000,000 loan extended to Visionary Buyer LLC to market at $7,580,432 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 Visionary Buyer LLC. The loan accrues interest at a rate of 9.55% per annum. The loan matures on March 21, 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 Visionary Buyer LLC Visionary Buyer LLC is a real estate investment company located in Baltimore, Maryland. W20 HOLDINGS: Cliffwater Corporate Marks $425,000 Loan at 71% Off ----------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $425,201 loan extended to W2O Holdings, Inc. to market at $124,514 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 W2O Holdings, Inc. The loan accrues interest at a rate of 8.99% per annum. The loan matures on June 12, 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 W2O Holdings, Inc. W2O Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides analytics-driven digital marketing and communications services for health care sector. W2O Holdings serves customers worldwide. WATER GREMLIN: Disclosures & Plan Hearing Set for July 29 --------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware will hold a combined hearing on July 29, 2025 at 10:00 a.m. (prevailing Eastern Time) to consider, among other things, final approval with respect to the adequacy of the disclosure statement describing the Chapter 11 plan of liquidation of Water Gremlin Company and its debtor-affiliates, and confirmation of the Debtors' Chapter 11 liquidation plan. Objections to the adequacy of the disclosures statement and confirmation of the Chapter 11 liquidation plan, if any, must be filed no later than 5:00 p.m. (prevailing Eastern Time) on July 9, 2025. The voting deadline for parties entitled to vote on the Debtors' plan and to opt-in to the Third-Party Releases is July 9, 2025, and the requirement that ballots must be submitted so as to be actually received by the voting deadline, is approved. Submit your Ballot via the E-Ballot Portal, by visiting https://cases.stretto.com/WaterGremlin and click on the "File a Ballot" section of the website. Enter your Unique E-Ballot Password as provided below and follow the instructions to submit your Ballot. If you choose to vote via a paper Ballot, you must deliver, prior to the Voting Deadline, an original, completed, and executed Ballot in the pre-addressed postage-paid envelope that accompanied your Ballot or as follows: Water Gremlin Company, et al. Ballot Processing c/o Stretto Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 The Debtors said they believe that confirmation and consummation of the Plan are in the best interests of the Debtors, their Estates, and their creditors. The Plan provides for an equitable distribution to holders of Claims and the compromise and settlement of certain claims and controversies among the Debtors and their key stakeholders. The Debtors said they believe that any alternative to confirmation of the Plan, such as liquidation under chapter 7 of the Bankruptcy Code, could result in the loss of significant value (and a corresponding reduction in the distributions to holders of Claims in certain Classes), and the potential for delay, litigation, and additional costs. Consequently, the Debtors urge all eligible holders of Claims entitled to vote on the Plan to vote to accept the Plan and to complete and submit their Ballots so that they will be received by the Claims and Noticing Agent on or before the Voting Deadline. On the effective date, the Debtors will make Plan Distributions in accordance with the Plan to holders of Allowed Administrative Claims, Allowed Tax Claims, Allowed Priority Claims, and Allowed Secured Claims that are due and payable as of the Effective Date using Cash on hand. Upon completion of such Plan Distributions and the payment of all outstanding costs of the Chapter 11 Cases by the Debtors, on the Effective Date, the Debtors will transfer all Liquidating Trust Assets to the Liquidating Trust and all Settlement Trust Assets to the Settlement Trust. After the Effective Date, the Liquidating Trustee shall make Plan Distributions from the Liquidating Trust Assets on account of Allowed General Unsecured Claims in accordance with the Plan and the Liquidating Trust Agreement. Summary of Plan Treatment Projected Projected Class Claim Status Amount Recovery ----- ----- ---------- --------- --------- 1 Priority Unimpaired $358,000 100% 2 Secured Unimpaired $0 100% 3 TCR Tort Impaired $50,000,000 50% 4a General Impaired $2,700,000 55%-75% Unsec. 4b Okabe Impaired $23,600,000 $0 4c WC Impaired $0 $0 4d Westfield Impaired $0 0%-55% Insurance Company 5 Inter- Impaired $15,900,000 $0 company 6 Equity Impaired N/A $0 Interest 7 Inter- Impaired N/A $0 company Interest Under the plan, among other things, the classes of Claims against the Debtors and equity interests in the Debtors will treated under the Plan as follows: Class 3 Settling Claims will be channeled to the Settling Trust, which shall be funded with the TCE Tort Claims Consideration. In accordance with Article VIII.A, all Settling Claims shall be resolved pursuant to the terms of the Settlement Trust Agreement and the Settlement TDP and to the extent such Settling Claims meet the criteria set forth therein, paid pursuant to the Settlement TDP. Pursuant to the Global Settlement: (1) the Settlement Trust shall release the Okabe Claimants from any Claims; and (2) the Releasing Claim Holders shall, prior to confirmation, execute and return to Okabe the Release Forms to be entitled to receive any distribution pursuant to the Settlement TDP: i) $13.5 million from the Debtors' bankruptcy estates. ii) $14.4 million to be contributed by Okabe for the payment of allowed TCE Tort Claims. The Okabe Contribution will be funded to an interest-bearing escrow account on the date that is fifteen (15) days after the date on which the Confirmation Order becomes a Final Order. The Debtors' bankruptcy estates shall be responsible for establishing the Escrow Account and paying any fees on account thereof. Any reasonable fees and expenses in connection with setting up and maintaining the Escrow Account will be deducted first from any interest that accrues in the Escrow Account, and second from the Okabe Contribution. Okabe shall not be required to make an additional contribution to set up or maintain the Escrow Account. Funds in the Escrow Account shall revert to Okabe if (1) Okabe exercises its Termination Right, or (2) the Confirmation Order is modified in a manner unacceptable to Okabe. iii) All funds remaining in the Debtors' Estates, including funds subsequently released from any Disputed Claims Reserve, in excess of: 1) Funds used to pay (i) Allowed Administrative Expenses, including the Administrative Expense Claims of Estate retained professionals, subject to the Professional Fee Budget, (ii) Allowed Secured Claims, and (iii) Allowed Priority Claims; and 2) The GUC Consideration of $2.5 million. Class 4(a) General Unsecured Claims, on the Plan Distribution Date, except to the extent that a holder of an Allowed General Unsecured Claim and the Debtors or the Liquidating Trust agrees to less favorable treatment, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for such Claim, each holder of an Allowed General Unsecured Claim shall receive its Pro Rata Share of the net proceeds of the Liquidating Trust. The Debtors and the Liquidating Trustee will use reasonable best efforts to enforce the Bar Date and the Bar Date Order and will cooperate with the Committee in determining the appropriate classification of all General Unsecured Claims. Westfield Claims Allocation: Pursuant to the Westfield Claims Assignment, all Westfield Claims and all Westfield Indemnification Claims shall be transferred to the Liquidating Trust. The Liquidating Trust will seek to recover the maximum amount of proceeds possible from the Westfield Claims and to disallow all Westfield Indemnification Claims. If any proceeds are recovered on account of Westfield TCE Insurance Claims, then such amounts, net of any (i) attorneys' fees and costs incurred as a result of the Liquidating Trust's prosecution and litigation of the Westfield Claims and Westfield Indemnification Claims and (ii) distributions required to be made on account of the Allowed Indemnification Claims, if any, shall be transferred to the Settlement Trust. If any proceeds are recovered on account of the Westfield Lead Insurance Claims, then such amounts shall be retained by the Liquidating Trust and shall be Liquidating Trust Assets. For the avoidance of doubt, the Westfield Assignment will not include the Insurance Assignment. Class 4(b) Okabe Claims have waived any right to distributions on account of the Okabe Claims and have agreed that any proof of claim filed by the Okabe Claimants in the Chapter 11 Cases shall be deemed withdrawn on the Effective Date without further order of the Court. Class 4(c) WC Claims will recover solely from: (1) any proceeds received by holders of WC Claims from the Debtors' workers compensation insurance pursuant to the WC Stipulation; plus (2) to the extent such WC Claim Holder is also a TCE Tort Claimant, such holders' allocated value of $100 per holder on account of such TCE Tort Claim pursuant to the Settlement TDP. Class 4(d) Westfield Insurance Company, on the Effective Date, the Debtor shall transfer all Westfield Indemnification Claims to the Liquidating Trust as part of the Westfield Assignment. To the extent there exists any Allowed Westfield Indemnification Claim, such Claims shall be treated as a Class 4a Claims and shall be entitled to their Pro Rata Share of the GUC Distributions. The amount of such pro rata share of the GUC Consideration shall be set off against any amounts determined to be owed by Westfield on account of Westfield Claims. To the extent the proceeds of Westfield Claims are not sufficient to set off the full amount of any Allowed Westfield Indemnification Claim, the deficiency remaining on any such Allowed Claims shall participate pro rata in the Class 4a distribution. Class 5 Intercompany Claims, Class 6 Okabe Equity Interests, and Class 7 Intercompany Interests will be deemed automatically cancelled, released, and extinguished and will be of no further force or effect. A full-text copy of the disclosure statement and Chapter 11 plan of liquidation is available for free at https://tinyurl.com/wnu4y2pp About Water Gremlin Company Water Gremlin Company is the world's technological and market leader in battery terminals. It was founded in 1949 as a manufacturer of recreational fishing products. In 1970, the Debtor expanded to battery terminal production. Water Gremlin uses custom engineering, design, and automation to deliver consistent quality solutions for industries like automotive, agriculture, commercial trucking, marine, telecommunications, recreation, and military and government operations. Water Gremlin and its affiliates filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-11775) on Oct. 27, 2023. At the time of the filing, Water Gremlin reported $10 million to $50 million in both assets and liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Alessandra Glorioso, Esq., at Dorsey & Whitney (Delaware) LLP as bankruptcy counsel; Intrepid Investment Bankers, LLC as investment banker; Riveron RTS, LLC as financial advisor. Kekst CNC and Padilla provide public relations services to the Debtors. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Brown Rudnick LLP as its counsel. WATER GREMLIN: Unsecureds Will Get 55% to 75% of Claims in Plan --------------------------------------------------------------- Water Gremlin Company and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a First Amended Combined Disclosure Statement and Joint Chapter 11 Plan of Liquidation dated June 6, 2025. Water Gremlin was founded in White Bear Township, Minnesota in 1949 as a manufacturer of lead sinkers for the recreational fishing markets. On the Petition Date, Water Gremlin owned over 160,000 square feet of combined manufacturing and warehousing space in White Bear Lake, Minnesota at which WG Sub conducted its lead sinker manufacturing and Water Gremlin conducted its battery terminal manufacturing. Under the Plan, the Liquidating Trust, as transferee of the Westfield TCE Insurance Claims, shall have the right to tender the TCE Tort Claims to Westfield for coverage under the Westfield Policies. All such coverage claims constitute Westfield TCE Insurance Claims. Any right Westfield may have to seek a declaration as to whether it owes a duty to indemnify Water Gremlin regarding the claim, or any other rights related thereto, constitute Westfield TCE Indemnification Claims. Any proceeds of Westfield Claims shall be distributed pursuant to Article VI.A of the Plan. The Liquidating Trust, as transferee of the Westfield Indemnification Claims, shall treat Westfield Indemnification Claims as General Unsecured Claims for Plan distribution purposes, which shall be set off against any amounts owed by Westfield on account of the Westfield Claims. An auction was held on December 18, 2023 and December 19, 2023. Four bids were submitted: one a competing bid for Holdings' equity in Aquila against Accuma and two for certain other assets of the WG Debtors. There were three successful bidders for the Debtors' assets: (i) Accuma for Holdings' equity in Aquila, (ii) Gopher Resource, LLC for certain discrete pieces of equipment from the WG Debtors, and (iii) WBL HoldCo LLC for the remaining assets of the WG Debtors (collectively, the "Purchasers"). As a result of the sale of its equity in Aquila, Holdings received over $20 million in cash. Holdings' resulting cash balance has been and continues to be used to fund the Debtors' various administrative expenses, including payment of the Debtors' professionals. The only potential liability against Holdings' assets (aside from administrative expense and estate professionals' compensation claims) are contingent and unliquidated unsecured claims held by holders of TCE Tort Claims based on corporate veil piercing or alter ego theory claims, which are being released pursuant to the terms of this Plan. Okabe has agreed to allow the proceeds of the Holdings' asset sale to be used to fund the Plan pursuant to the terms of the Global Settlement Agreement incorporated into the Plan. This Combined DS and Plan contemplates the establishment of the Liquidating Trust and the Settlement Trust to administer post Effective Date responsibilities of the Debtors and winddown the Debtors' business under the Plan, including: (1) the Debtor's Assets being included in the Liquidating Trust Assets or the Settlement Trust Assets, respectively, (2) making distributions to holders of Allowed Claims in accordance with the terms of this Plan and the Liquidating Trust Agreement and Settlement Trust Agreement, respectively, (3) resolving all Disputed Claims and effectuating the Claims reconciliation process pursuant to the procedures prescribed in this Combined DS and Plan, (4) prosecuting, settling, and resolving Causes of Action, (5) recovering assets through enforcement, resolution, settlement, collection, or otherwise, (6) winding down the affairs of the Debtors, if and to the extent necessary, including taking any steps to dissolve, liquidate, or take other similar action with respect to each Debtors, including by terminating the corporate or organizational existence of each such Debtor, and (7) performing all actions and executing all agreements, instruments and other documents necessary to effectuate the purpose of the Liquidating Trust and Settlement Trust. Class 4a consists of General Unsecured Claims. On the Plan Distribution Date, except to the extent that a holder of an Allowed General Unsecured Claim and the Debtors (prior to the Effective Date, with the consent of the Committee) or the Liquidating Trust (after the Effective Date) agrees to less favorable treatment, in full and final satisfaction, and in exchange for such Claim, each holder of an Allowed General Unsecured Claim shall receive its Pro Rata Share of the net proceeds of the Liquidating Trust (the "GUC Distribution"). The allowed unsecured claims total $2,700,000. This Class will receive a distribution of 55% to 75% of their allowed claims. Pursuant to the Westfield Claims Assignment, all Westfield Claims and all Westfield Indemnification Claims shall be transferred to the Liquidating Trust. The Liquidating Trust will seek to recover the maximum amount of proceeds possible from the Westfield Claims and to disallow all Westfield Indemnification Claims. If any proceeds are recovered on account of Westfield TCE Insurance Claims, then such amounts, net of any (i) attorneys' fees and costs incurred as a result of the Liquidating Trust's prosecution and litigation of the Westfield Claims and Westfield Indemnification Claims and (ii) distributions required to be made on account of the Allowed Indemnification Claims, if any, shall be transferred to the Settlement Trust. If any proceeds are recovered on account of the Westfield Lead Insurance Claims, then such amounts shall be retained by the Liquidating Trust and shall be Liquidating Trust Assets. Claims in Class 4(a) are Impaired. Holders of Allowed General Unsecured Claims are entitled to vote to accept or reject the Plan. Class 6 shall consist of all Equity Interests in the Debtors owned by Okabe. On the Effective Date, all of Okabe's Equity Interests in the Debtors shall be deemed automatically canceled, released, and extinguished and shall be of no further force or effect; provided, that, one or more of the Debtors may continue to exist after the Effective Date. Okabe will not receive any Plan Distribution on account of its Equity Interests in the Debtors. On the Effective Date, the Debtors shall make Plan Distributions in accordance with the Plan to holders of Allowed Administrative Claims, Allowed Tax Claims, Allowed Priority Claims, and Allowed Secured Claims that are due and payable as of the Effective Date using Cash on hand. Upon completion of such Plan Distributions and the payment of all outstanding costs of the Chapter 11 Cases by the Debtors, on the Effective Date, the Debtors shall transfer all Liquidating Trust Assets to the Liquidating Trust and all Settlement Trust Assets to the Settlement Trust. After the Effective Date, the Liquidating Trustee shall make Plan Distributions from the Liquidating Trust Assets on account of Allowed General Unsecured Claims in accordance with the Plan and the Liquidating Trust Agreement. A full-text copy of the First Amended Combined Disclosure Statement and Liquidating Plan dated June 6, 2025 is available at https://urlcurt.com/u?l=SyCNqR from Stretto Inc., claims agent. Counsel for the Debtors: DORSEY & WHITNEY (DELAWARE) LLP Eric Lopez Schnabel, Esq. Alessandra Glorioso, Esq. 300 Delaware Avenue, Suite 1010 Wilmington, Delaware 19801 Telephone: (302) 425-7171 Email: schnabel.eric@dorsey.com glorioso.alessandra@dorsey.com -and- Eric Lopez Schnabel, Esq. Michael Galen, Esq. Courina Yulisa, Esq. Laura Goforth, Esq. Dorsey & Whitney LLP 51 West 52nd Street New York, NY 10019 Tel: (212) 415-9200 Fax: (212) 953-7201 Email: schnabel.eric@dorsey.com About Water Gremlin Company Water Gremlin Company is the world's technological and market leader in battery terminals. It was founded in 1949 as a manufacturer of recreational fishing products. In 1970, the Debtor expanded to battery terminal production. Water Gremlin uses custom engineering, design, and automation to deliver consistent quality solutions for industries like automotive, agriculture, commercial trucking, marine, telecommunications, recreation, and military and government operations. Water Gremlin and its affiliates filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-11775) on Oct. 27, 2023. At the time of the filing, Water Gremlin reported $10 million to $50 million in both assets and liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Alessandra Glorioso, Esq., at Dorsey & Whitney (Delaware) LLP as bankruptcy counsel; Intrepid Investment Bankers, LLC as investment banker; Riveron RTS, LLC as financial advisor. Kekst CNC and Padilla provide public relations services to the Debtors. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Norman Pernick, Esq. WATERLOO POWER: Hires Campos Tax & Accounting as Accountant ----------------------------------------------------------- Waterloo Power, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Campos Tax & Accounting Services as accountant. The firm will provide these services: -- provide tax preparation services for the tax year 2024 and 2025; -- assist in the State Income Tax Return preparation; -- tax planning services; -- bookkeeping services; and -- financial statement preparation. The firm will be paid a monthly fee of $450 plus a quarterly fee of $50 for heavy duty sales tax. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jesus Campos Figueroa Campos Tax & Accounting Services 3306 Goforth Rd Kyle, TX 78640 Tel: (512) 534-7466 Email: campostna@gmail.com About Waterloo Power, LLC Waterloo Power, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10866-smr) on June 4, 2025. In the petition signed by Natalie Rodriguez, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Shad Robinson oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. WATERLOO POWER: Hires Lane Law Firm PLLC as Counsel --------------------------------------------------- Waterloo Power, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ The Lane Law Firm PLLC as counsel. The firm will render these services: (a) assist, advise and represent the Debtor relative to the administration of the Chapter 11 case; (b) assist, advise and represent the Debtor in analyzing its assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; (c) attend meetings and negotiate with the representatives of the secured creditors; (d) assist the Debtor in the preparation, analysis and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; (e) take all necessary action to protect and preserve the interests of the Debtor; (f) appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said courts and the United States Trustee; and (g) perform all other necessary legal services in this case. The firm will be paid at these rates: Robert Lane, Partner $595 per hour Joshua Gordon, Partner $550 per hour Zach Casas, Partner $450 per hour Kyle Garza, Partner $450 per hour Grant Bullwinkel, Partner $450 per hour Paralegals $250 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received retainer payments in the amount of $35,000 from the Debtor. Mr. Lane disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Tel: (713) 595-8200 Fax: (713) 595-8201 Email: notifications@lanelaw.com About Waterloo Power, LLC Waterloo Power, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10866-smr) on June 4, 2025. In the petition signed by Natalie Rodriguez, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Shad Robinson oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. WESTERN DIGITAL: Moody's Cuts CFR to 'Ba2', Outlook Stable ---------------------------------------------------------- Moody's Ratings confirmed Western Digital Corporation's (WDC) Ba1 senior secured rating and downgraded WDC's corporate family rating to Ba2 from Ba1, probability of default rating to Ba2-PD from Ba1-PD, and senior unsecured rating to Ba3 from Ba2. The speculative grade liquidity rating (SGL) was upgraded to SGL-1 from SGL-2. The outlook is stable. This action concludes the review for downgrade initiated on November 01, 2023 following WDC's announcement of plans to spin-off the company's flash memory business. The downgrade of the CFR reflects the reduced product diversification following WDC's spin-off to shareholders of 80.1% of the equity of its flash memory (renamed Sandisk Corporation) on February 21, 2025. In order to receive favorable tax treatment for the spin-off, WDC will dispose of its 19.9% retained interest over the next 8 months. On June 09, WDC sold 21.3 million of its Sandisk shares for $796 million, using the proceeds and balance sheet cash to repay $800 million of the senior secured term loan due 2027 (Term Loan). This transaction reduced WDC's retained interest in Sandisk to 5.2%. RATINGS RATIONALE The Ba2 CFR reflects the WDC's robust liquidity and consistent free cash flow (FCF) generation following the spin-off of Sandisk, as the HDD business is far less capital intensive than the flash memory business. The rating also considers the low financial leverage. In April, WDC redeemed $1.8 billion of the senior unsecured notes due 2026 (2026 Notes) and in early June repaid $800 million on the Term Loan. These actions reduced leverage from 3.7x debt to EBITDA (12 months ended March 28, 2025, proforma for Sandisk divestiture, Moody's adjusted) to 2.4x (12 months ended March 28, 2025, proforma for Sandisk divestiture and the debt repayments, Moody's adjusted). Moreover, WDC has good operating scale as one of the two main, global hard disc drive (HDD) device manufacturers. This concentrated competitor base supports rational pricing and thus industry profitability over time. The HDD industry also benefits from the role of HDDs as the dominant storage medium in hyperscale data centers of cloud service providers (CSPs). The broad secular trend of increasing content creation from social media, video surveillance, and the broader trend towards digitization of the global economy supports demand for HDDs over the intermediate term due to HDD's high capacity and low cost per unit of memory relative to Flash-based solid state drives (SSDs). The rating also incorporates the less-diverse total revenue base following the spin-off of Sandisk. There are also substantial execution risks in the ongoing industry technology transitions, which are becoming increasingly complex, such as the current transition to heat assisted magnetic recording (HAMR) HDDs. These technology transitions are critical to the reduction in unit memory costs in order to maintain HDD's cost competitiveness relative to solid state drives (SSDs) (which use flash memory) and resist SSD's gradual displacement of HDD's as a storage technology. The stable outlook reflects Moody's expectations of organic revenue growth in the mid to upper single digits percent and an EBITDA margin in the low twenties percent (Moody's adjusted) over the next 12 to 18 months. Moody's expects that through a combination of debt reduction and increasing EBITDA, leverage will decline toward 2x level of debt to EBITDA (Moody's adjusted) over the period. The SGL-1 liquidity rating is supported by WDC's cash balances, which Moody's expects to remain above $1 billion, and the $1.25 billion undrawn senior secured revolving credit facility due January 2027 (Revolver). Liquidity also benefits from consistent cash flow. Moody's expects that WDC will generate at least $1 billion of annual free cash flow (FCF) over the next 12 to 18 months on modest growth in revenues and profitability. WDC also has the retained Sandisk shares (7.5 million shares remaining worth about $332 million based on Sandisk's $44.21 per share closing price on June 16). WDC will dispose of these Sandisk shares over the next 8 months, providing a source of additional potential liquidity. The Ba1 rating for the senior secured notes due 2029 and 2032 benefits from the first priority security interest in certain assets of WDC and its subsidiary, Western Digital Technologies, Inc. (WDT). However, Moody's believes that given the extensive global footprint of WDC's businesses, a meaningful share of assets are not pledged to the benefit of secured debtholders. Secured debt, including the obligations under bank credit facilities (unrated), represents a substantial portion of total outstanding debt. The senior unsecured notes due in 2026 are rated Ba3 to reflect the large proportion of the debt capital structure comprised of secured debt, which has higher priority of claims ahead of these unsecured notes. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if WDC: -- Improves technology competitive position relative to key peers resulting in sustained higher profitability. -- Materially reduces the proportion of secured to debt in the debt capital structure. -- Adheres to a conservative financial policy, maintaining low financial leverage and robust liquidity. The ratings could be downgraded if WDC: -- Pursues a more aggressive financial policy such that FCF to debt (Moody's adjusted) will remain below high single digits percent or debt to EBITDA (Moody's adjusted) will remain above 4.5x. -- Experiences market share and profitability declines on more than a temporary basis, indicating an erosion of competitive position relative to key peers. Western Digital Corporation is a leading developer, manufacturer and provider of data storage devices and solutions based on hard disc drive (HDD) technology. The principal methodology used in these ratings was Diversified Technology published in February 2022. WDC's Ba2 CFR is three notches below the Baa2 scorecard indicated outcome. This reflects The actual rating places a greater emphasis on WDCs high business risks, including high historical demand variability. WHITE FOREST: Seeks to Extend Plan Exclusivity to Sept. 5 --------------------------------------------------------- White Forest Resources, Inc., and affiliates asked the U.S. Bankruptcy Court for the District of Delaware to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to September 5 and November 4, 2025, respectively. The Debtors explain that the requested extension is reasonable given the Debtors' progress to date and the current posture of these Chapter 11 Cases. Since the Petition Date, the Debtors and their advisors have worked diligently to administer these cases as efficiently as possible to minimize administrative expenses. To that end, the Debtors have, among other things, (i) negotiated and obtained Court approval of debtor in possession financing; (ii) prepared and filed the Debtors' Schedules of Assets and Liabilities and Statements of Financial Affairs; (iii) prepared and filed monthly operating reports; (iv) established bar dates for creditors to file proofs of claim; (v) retained Debtors' professionals; (vi) addressed various challenges related to the Debtors' business operations; (vii) responded to creditor inquiries; and (viii) obtained Court approval and closed on a sale of the Raven Crest Mine. The Debtors claim that the relief requested herein will facilitate the Debtors' efforts to efficiently administer these Chapter 11 Cases by providing the Debtors with a full and fair opportunity to resolve open case issues, evaluate certain claims, and determine whether formulation and confirmation of a plan is feasible in these cases, without the distraction of ill-formed competing plans. The Debtors assert that this Motion is their first request for an extension of the Exclusive Periods, and the request will not unfairly prejudice or pressure the Debtors' creditor constituencies or grant the Debtors any unfair bargaining leverage. Importantly, the Debtors are not seeking an extension to delay administration of these Chapter 11 Cases or to exert pressure on their creditors, but rather to continue the orderly, efficient, and cost-effective chapter 11 process. Accordingly, the Debtors believe that the requested extension is warranted and appropriate under the circumstances. By contrast, termination of the Exclusive Periods now would adversely impact the Debtors' progress in these Chapter 11 Cases. Simply put, if the requested extensions are denied, upon expiration of the Exclusive Periods, any party-in-interest would be free to propose a plan for the Debtors and solicit acceptances thereof. Such a ruling could foster chaos and impair the Debtors' ability to efficiently administer these Chapter 11 Cases, without any corresponding benefit to the Debtors' estates and creditors. Counsel to the Debtors: Alan M. Root, Esq. William E. Chipman, Jr., Esq. CHIPMAN BROWN CICERO & COLE, LLP Hercules Plaza 1313 North Market Street, Suite 5400 Wilmington, Delaware 19801 Tel: (302) 295-0191 Email: root@chipmanbrown.com chipman@chipmanbrown.com About White Forest Resources, Inc. White Forest Resources Inc. and affiliates are privately-held producers of premium metallurgical and thermal coal in the Central Appalachian coal basin. The Debtors operate two mining operations in West Virginia. The main buyers of the Debtors' premium metallurgical coal, which is used in a process to produce coke for steel manufacturing, include steel manufacturers, commodity brokers, and industrial clients. Electric utilities and industrial companies are the principal customers for the Debtors' thermal coal. White Forest Resources Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10195) on February 7, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Alan M. Root, Esq., William E. Chipman, Jr., Esq., and Alison R. Maser, Esq., at Chipman Brown Cicero & Cole LLP in Wilmington, Delaware. The Debtors' CRO Provider is RK Consultants LLC. The Debtors' special counsel is Jones & Associates. The Debtors' noticing and claims agent is Stretto. WOOD DESIGN: Amends IRS Claims Pay Details ------------------------------------------ Wood Design R US, LLC, submitted a First Amended Plan of Reorganization dated June 6, 2025. The Plan under chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from the Debtor's current and future earnings. This Plan provides for one class of priority claims, one secured claims, one class of general unsecured claims, and one class of equity security holders. Secured and unsecured creditors holding allowed claims will receive a distribution on their claim, payable over five years. This Plan also provides for the payment of administrative and priority claims under the terms to the extent permitted by the Code or by agreement between the Debtor and the claimants. Class 1 consists of the IRS Claims entitled to priority pursuant to Section 507 of the Bankruptcy Code. IRS Proof of Claim #3 $58,295.38. (IRS has advised that POC #3 will be amended as a result of processed/assessed returns the original POC included estimates. Class 1 includes all claims entitled to priority pursuant to Section 507 of the Bankruptcy Code, claims will be in full within 5 years from the Petition Date, plus pre and post-confirmation interest accruing at the statutory rate, in equal monthly payments commencing thirty days from the Effective Date of the Plan. This Class is unimpaired. Like in the prior iteration of the Plan, the Debtor will pay Class 3 general Unsecured claimants in this class approximately 100% of their allowed claim without interest in equal quarterly installments, with payments commencing on the effective date of the Plan and continuing for a total of 60 consecutive months. The Debtor estimates that there is a total of $277,372.91 of claims in this class. Security Equity Holder will retain ownership in the Debtor postconfirmation. Current equity will continue to manage the Debtor post confirmation. The Plan will be funded by the continued operations of the Debtor. In addition, this plan will be funded by monies being returned to the Debtor from American Express pursuant to Debtor's request and American Express' agreement. A full-text copy of the First Amended Plan dated June 6, 2025 is available at https://urlcurt.com/u?l=FuVxWa from PacerMonitor.com at no charge. About Wood Design R US Wood Design R US, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-10236) on Jan. 10, 2025, with up to $50,000 in assets and up to $500,000 in liabilities. Aleida Martinez Molina, Esq., serves as Subchapter V trustee. Judge Erik P. Kimball presides over the case. The Debtor is represented by: Robert A. Stiberman, Esq. Stiberman Law, P.A. 2601 Hollywood Blvd. Hollywood, FL 33020 Telephone: (954) 922-2283 Facsimile: (954) 302-8707 Email: ras@stibermanlaw.com WOOLPERT HOLDINGS: Cliffwater Corporate Marks $1MM Loan at 82% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,061,048 loan extended to Woolpert Holdings, Inc. to market at $194,888 or 18% 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 Woolpert Holdings, Inc. The loan accrues interest at a rate of 9.39% per annum. The loan matures on March 11, 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 Woolpert Holdings, Inc. Woolpert Holdings, Inc. is the premier architecture, engineering, and geospatial firm. WOOLPERT HOLDINGS: Cliffwater Corporate Marks $2.1M Loan at 86% Off ------------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,122,095 loan extended to Woolpert Holdings, Inc. to market at $306,370 or 14% 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 Woolpert Holdings, Inc. The loan accrues interest at a rate of 9.40% per annum. The loan matures on April 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 Woolpert Holdings, Inc. Woolpert Holdings, Inc. is a reputable company specializing in providing innovative solutions in the fields of architecture, engineering, and consulting services. WOOLPERT INC: Cliffwater Corporate Marks $2.9MM Loan at 85% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,948,565 loan extended to Woolpert, Inc. to market at $440,302 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 Delayed Draw Loan to Woolpert, Inc. The loan accrues interest at a rate of 9.39% per annum. The loan matures on April 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 Woolpert, Inc. Woolpert, Inc. is a provider of geospatial, architectural, engineering and strategic consulting services to public, private and government enterprises. WRE HOLDING: Cliffwater Corporate Marks $14.9MM Loan at 68% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $14,943,825 loan extended to WRE Holding Corp. to market at $4,719,542 or 32% 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 WRE Holding Corp. The loan accrues interest at a rate of 9.45% per annum. The loan matures on July 2, 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 WRE Holding Corp. WRE Holding Corp. operates as a holding company. The Company, through its subsidiaries, provides investment services. WRE Holding serves customers in the State of Massachusetts. X-LASER LLC: Seeks to Hire Weiss Law Group as Bankruptcy Counsel ---------------------------------------------------------------- X-Laser, L.L.C. seeks approval from the U.S. Bankruptcy Court for the District of Maryland to hire The Weiss Law Group, LLC as counsel. The firm's services include: (a) providing legal advice with respect to the powers, rights, and duties of the Debtor and Debtor-in-Possession; (b) providing legal advice and consultation related to the legal and administrative requirements of this case, including assisting Applicant in complying with the procedural requirements of the Office of the United States Trustee and the Subchapter V Trustee; (c) taking appropriate actions to protect and preserve the Estate, including prosecuting actions on the Debtor's behalf, defending actions commenced against the Debtor, and representing the Debtor's interests in any negotiations or litigation in which the Debtor may be involved, including objections to the claims filed against the Estate, and preparing witnesses and reviewing documents in this regard; (d) preparing appropriate documents and pleadings, including but not limited to Schedules, Applications, Motions, Answers, Orders, Complaints, Reports, or other documents appropriate to the administration of the Estate; (e) representing the Debtor's interests at the Initial Debtor Interview, the Meeting of Creditors, any Status Conferences, the Confirmation Hearing, and other hearings before this Court related to the Debtor; (f) assisting and advising the Debtor in the formulation, negotiation, and implementation of a Chapter 11 Plan and all documents related thereto; (g) assisting and advising the Debtor with respect to negotiation, documentation, implementation, consummation, and closing of transactions, including the sale of assets or the incurring of debt; (h) assisting and advising the Debtor with respect to the use of cash collateral, critical vendors, obtaining financing, and negotiating, drafting, and seeking approval of any documents related thereto; (i) reviewing and analyzing claims filed in this case, and advising and representing the Debtor in connection with objections to such claims; (j) assisting and advising the Debtor with respect to executory contracts and unexpired leases, including assumptions, assignments, rejections, and renegotiations; (k) coordinating with other professionals employed in the case; (l) reviewing and analyzing applications, orders, motions, and other pleadings and documents filed with the Bankruptcy Court and advising the Debtor thereon; and (m) assisting the Debtor in performing such other services as may be in the interest of the Debtor and the Estate and performing all other legal services required by the Debtor. The firm's counsel and staff will be paid at these hourly rates: Brett Weiss, Attorney $595 Daniel Staeven, Attorney $400 Paralegals $195 In addition, the firm will seek reimbursement for expenses incurred. Prior to the filing, the firm received a retainer of $40,000. Mr. Weiss 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: Brett Weiss, Esq. The Weiss Law Group, LLC 8843 Greenbelt Road, Box 299 Telephone: (301) 924-4400 Facsimile: (240) 627-4186 Email: brett@BankruptcyLawMaryland.com About X-Laser L.L.C. X-Laser, L.L.C. designs and supplies laser light show systems and related support services for a range of users, from mobile DJs to major entertainment companies like Disney. Since 2007, the Company has offered touring-grade and entry-level laser projectors, including versatile models like the LaserCube and specialty series such as Aurora, along with advanced products like the Radiator and Ether Dream 4. X-Laser also provides training and resources to help clients enhance their live production setups. The Debtor sought protection under U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-15178) on June 7, 2025. In the petition signed by Adam Raugh, managing member, the Debtor disclosed $257,408 in assets and $3,293,527 in liabilities. Judge David E. Rice oversees the case. Brett Weiss, Esq., at The Weiss Law Group, represents the Debtor as bankruptcy counsel. YA INTERMEDIATE: Cliffwater Corporate Marks $2MM Loan at 91% Off ---------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,023,007 loan extended to YA Intermediate Holdings II, LLC to market at $189,120 or 9% 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 YA Intermediate Holdings II, LLC. The loan accrues interest at a rate of 11.50% 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 YA Intermediate Holdings II, LLC YA Intermediate Holdings II, LLC is a holding company that is both a holding company of a smaller group and a subsidiary of a larger corporation. It's part of the YA Group which is a global leader in strategic consulting. YA Group has been acquired by THL Partners. YA INTERMEDIATE: Cliffwater Corporate Marks $4.2MM Loan at 90% Off ------------------------------------------------------------------ Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,214,600 loan extended to YA Intermediate Holdings II, LLC to market at $420,974 or 10% 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 YA Intermediate Holdings II, LLC. The loan accrues interest at a rate of 9.30% per annum. The loan matures on August 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 YA Intermediate Holdings II, LLC YA Intermediate Holdings II, LLC is a holding company that is both a holding company of a smaller group and a subsidiary of a larger corporation. It's part of the YA Group which is a global leader in strategic consulting. YA Group has been acquired by THL Partners. YLG HOLDINGS: Cliffwater Corporate Marks $35.7MM Loan at 52% Off ---------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $35,714,286 loan extended to YLG Holdings, Inc. to market at $17,285,871 or 48% 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 YLG Holdings, Inc. The loan accrues interest at a rate of 9.07% per annum. The loan matures on November 26, 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 YLG Holdings, Inc. YLG Holdings, Inc. operates as a holding company. The company, through its subsidiaries, provides landscape design and land use management services. YLG HOLDINGS: Cliffwater Corporate Marks $4.2MM Loan at 52% Off --------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,214,600 loan extended to YLG Holdings, Inc. to market at $800,759 or 48% 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 YLG Holdings, Inc. The loan accrues interest at a rate of 9.07% per annum. The loan matures on November 2, 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 YLG Holdings, Inc. YLG Holdings, Inc. operates as a holding company. The company, through its subsidiaries, provides landscape design and land use management services. ZAMA&ZAMA INC: Seeks Chapter 11 Bankruptcy in Nevada ---------------------------------------------------- On June 18, 2025, Zama&Zama Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Nevada. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Zama&Zama Inc. 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. Zama&Zama Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-13501) on June 18, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge August B. Landis handles the case. The Debtors are represented by Matthew C. Zirzow, Esq. at LARSON & ZIRZOW, LLC. ZINC BUYER: Cliffwater Corporate Marks $8.1MM Loan at 58% Off ------------------------------------------------------------- Cliffwater Corporate Lending Fund (CCLFX) has marked its $8,132,374 loan extended to Zinc Buyer Corporation to market at $3,407,369 or 42% 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 Zinc Buyer Corporation. 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 Zinc Buyer Corporation Zinc Buyer Corporation is engaged in buying, selling, and processing zinc, both as a primary metal and as a component in various products. [] York Beach Hotel Complex Sent to Foreclosure ----------------------------------------------- Keenan Auction Company will hold a real estate foreclosure auction 24-51 on June 20, 2025, at 11:00 a.m., for the sale of a 53-unit boutique oceanfront complex, York Beach, Maine. Deposit to bid is $100,000 certified US funds, increased to 10% of the purchase price within 5 days of the public sale. For terms of sale and additional information, visit http://www.keenanauction.comor call (207) 885-5100 and request by auction #24-51. Buyer broker participation is available. Contact auctioneer for qualifications. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2025. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. 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