---

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

              Wednesday, July 2, 2025, Vol. 29, No. 182

                            Headlines

11 7 TAMBAYAN: Seeks Subchapter V Bankruptcy in Nevada
2700 SLOAT HOLDING: Seeks Chapter 11 Bankruptcy in Nevada
48FORTY SOLUTIONS: Lenders Pitch Potential Debt Restructuring
7TH PAR HOLDINGS: Walter Dahl Named Subchapter V Trustee
A&F USA PROPERTIES: Case Summary & Four Unsecured Creditors

ACHIEVERS DYNAMIC: Seeks Subchapter V Bankruptcy in Arizona
ADVANCE TRANSIT: Hires Ciardi Ciardi & Astin as Counsel
AGUA VIVA: Seeks to Hire Lane Law Firm PLLC as Counsel
AMC ENTERTAINMENT: Reaches Settlement w/ Creditors to End Lawsuit
AMERICA'S GARDENING: Gets Interim OK to Use Cash Collateral

AMKOR TECHNOLOGY: Fitch Affirms BB+ LongTerm IDR, Outlook Positive
APPLICO LLC: Gets Final OK to Use Cash Collateral
ARAX MIDCO: Cliffwater Corporate Virtually Writes Off $2.1MM Loan
ARDEN INSURANCE: Cliffwater CLF Marks $457,000 Loan at 82% Off
ARRAY TECHNOLOGIES: S&P Affirms 'B+' ICR on Notes Issuance

ASCEND PARTNER: Cliffwater Corporate Marks $44MM Loan at 72% Off
ASCEND PARTNER: Cliffwater Corporate Marks $8.8MM Loan at 64% Off
ASCEND PERFORMANCE: Gibson Dunn & Howley Revise Rule 2019 Statement
ASHMARK CONSTRUCTION: Case Summary & Two Unsecured Creditors
AUXILIARY OPERATIONS: Seeks Chapter 11 Bankruptcy in Indiana

AVALON SAI: Gets Final OK to Use Cash Collateral
BABYLON BUYER: Cliffwater Corporate Marks $379,000 Loan at 18% Off
BAUDAX BIO: Seeks to Extend Plan Exclusivity to August 15
BAYOU TECHNOLOGIES: Armistead Long Named Subchapter V Trustee
BB 23 HOLLOW: Court OKs Deal to Use U.S. Bank's Cash Collateral

BEACH ACQUISITION: Fitch Rates New $2.5BB Unsecured PIK Notes 'B-'
BEACON POINTE: Cliffwater Corporate Marks $10MM Loan at 78% Off
BEDMAR LLC: US Trustee Challenges Good Faith of Chapter 11 Filing
BEL TEMPO: Voluntary Chapter 11 Case Summary
BELMONT BUYER: Cliffwater Corporate Marks $632,000 Loan at 68% Off

BISHOP OF SAN DIEGO: Betti & Associates Represents Abuse Claimants
BISHOP OF SAN DIEGO: DeMarco Represents Sexual Abuse Claimants
BISHOP OF SAN DIEGO: Herman Law Represents Sexual Abuse Claimants
BISHOP OF SAN DIEGO: Liakos Law Advises Sexual Abuse Claimants
BISHOP OF SAN DIEGO: Matthews & Associates Advises Abuse Claimants

BISHOP OF SAN DIEGO: Paul Mones Represents Sexual Abuse Claimants
BLUE DUCK: Gets Interim OK to Use Cash Collateral Until July 13
BORDDEAUX VENTURES: Case Summary & Three Unsecured Creditors
BORDEAUX VENTURES: Section 341(a) Meeting of Creditors on July 31
BULLER MEDIA: Neema Varghese Named Subchapter V Trustee

CARNIVAL PLC: S&P Rates New EUR1BB Senior Unsecured Notes 'BB+'
CARR RIGGS: Cliffwater Corporate Marks $3.4MM Loan at 40% Off
CARR RIGGS: Cliffwater Corporate Marks $7.6MM Loan at 84% Off
CASEY COTTON: 5th Circuit Tosses Champertous Claim
CB THEATER: Case Summary & 20 Largest Unsecured Creditors

CELSIUS NETWORK: Judge Seeks Further Details in Clawback Case
CERITY PARTNERS: Cliffwater Corporate Marks $1.3MM Loan at 42% Off
CERITY PARTNERS: Cliffwater Corporate Marks $2.6MM Loan at 44% Off
CERIUM URGENT CARE: Section 341(a) Meeting of Creditors on July 8
CGA CORP: Section 341(a) Meeting of Creditors on July 22

CINEMEX HOLDINGS: Seeks Chapter 11 Bankruptcy for 2nd Time
CLASSIC CONSTRUCTION: Gets Final OK to Use Cash Collateral
CORNERSTONE BUILDING: S&P Downgrades ICR to 'B-', Outlook Stable
CRESCENT CITY: Greta Brouphy Named Subchapter V Trustee
CRESCENT ENERGY: Fitch Rates New Unsecured Notes Due 2034 'BB-'

CTF-CHICAGO: Hires Fort Dearborn Partners as Financial Advisor
D & M VENTURES: Case Summary & Eight Unsecured Creditors
D & M VENTURES: Seeks Subchapter V Bankruptcy in Texas
D TUR HOTEL: Hires Law Offices of Michael Jay Berger as Counsel
DEL MONTE FOODS: Seeks Chapter 11, Pursues Value-Maximizing Sale

DILLARD'S INC: S&P Affirms 'BB+' ICR on Strong Credit Metrics
DOG ROBBER: Court OKs Continued Use of Cash Collateral
DOUBLE PLAY: Gets Interim OK to Use Cash Collateral Until July 31
DP LOUISIANA: Case Summary & 20 Largest Unsecured Creditors
EARPS MIDCO: Cliffwater Corporate Marks $560,000 Loan at 50% Off

EDGECO BUYER: Cliffwater Corporate Marks $14.6MM Loan at 90% Off
EDITH'S CRUST: Walter Dahl Named Subchapter V Trustee
ELMA TRANSPORT: Seeks Chapter 11 Bankruptcy in Illinois
FLIP LLC: Lender Seeks to Prohibit Cash Collateral Access
FLYING STAR: Seeks to Extend Plan Exclusivity to September 24

FRANCIS TRUST: Gets Interim OK to Use Cash Collateral Until July 8
FREEBIRD STORES: Faces Financial Crisis, Closes 14 of 20 Stores
GALWAY BORROWER: Cliffwater CLF Marks $503,000 Loan at 19% Off
GALWAY BORROWER: Cliffwater Corporate Marks $11MM Loan at 36% Off
GALWAY BORROWER: Cliffwater Corporate Marks $3.9MM Loan at 94% Off

GALWAY BORROWER: Cliffwater Corporate Marks $83.4MM Loan at 80% Off
GESTION ABS: Cliffwater Corporate Marks $14.9MM 1L Loan at 31% Off
GESTION ABS: Cliffwater Corporate Marks $2.2MM Loan at 95% Off
GRANT ANTIQUES: Court Extends Cash Collateral Access to Aug. 11
GREEN TERRACE: Daniel Stermer Appointed as Chapter 11 Trustee

GREENE COUNTY WATER: S&P Lowers 2021 Revenue Bond Rating to 'BB'
GROOMORE INC: Seeks to Extend Plan Filing Deadline to August 20
HBWM INTERMEDIATE: Cliffwater Corporate Marks $3.6M Loan at 68% Off
HEALTHSTAR FAMILY: Seeks Subchapter V Bankruptcy in Texas
HEART 2 HEART: Seeks to Extend Plan Exclusivity to October 28

HIGGINBOTHAM INSURANCE: Cliffwater CLFX Marks $1.9M Loan at 59% Off
HIGGINBOTHAM INSURANCE: Cliffwater CLFX Marks $19MM Loan at 59% Off
HIGHPEAK ENERGY: S&P Assigns 'B' ICR, Outlook Stable
HPS SPECIALTY: Cliffwater Corporate Marks $187MM 1L Loan at 33% Off
IEQ MIDCO: Cliffwater Corporate Marks $11.4MM Loan at 58% Off

INTEGRITY MARKETING: Cliffwater CLFX Marks $50.7MM Loan at 40% Off
INTRUM AB: Seeks to Extend Plan Exclusivity to September 15
J.S. HELD: Cliffwater Corporate Marks $3.4 Million Loan at 73% Off
J2KE INC: Seeks to Hire Tittle Law Firm PLLC as Counsel
JACKSON HOSPITAL: Bid Deadline Moved to July 3

JND TROPICS: Christopher Simpson Named Subchapter V Trustee
JSG I INC: S&P Places 'B-' ICR on CreditWatch Negative
JUBILEE HOSPITALITY: Seeks Chapter 11 Bankruptcy in New York
JWANIGATUNGA LLC: Section 341(a) Meeting of Creditors on July 21
KC PET: Gets Interim OK to Use Cash Collateral

KOHLBERG KINETIC: Cliffwater Corporate Marks $4.3MM Loan at 28% Off
KUBOTA OF KNOXVILLE: Hires Alpine Capital International as Broker
L.D. LYTLE: Case Summary & Seven Unsecured Creditors
LFS TOPCO: Fitch Gives 'B-(EXP)' Rating on Sr. Unsecured Notes
LIDO ADVISORS: Cliffwater Corporate Marks $10.4MM Loan at 37% Off

LIDO ADVISORS: Cliffwater Corporate Marks $700,000 Loan at 33% Off
LONG ISLAND INVESTMENT: Seeks Chapter 11 Bankruptcy in New York
LOVING KINDNESS: Seeks to Extend Plan Exclusivity to October 21
MAGIC CAR: Seeks to Use Cash Collateral
MAI CAPITAL: Cliffwater Corporate Marks $21.1MM Loan at 61% Off

MAI CAPITAL: Cliffwater Corporate Marks $7.9MM Loan at 67% Off
MARIN SOFTWARE: Case Summary & 10 Unsecured Creditors
MCLARENS MIDCO: Cliffwater Corporate Marks $1MM Loan at 89% Off
MODERN BUILDERS: Seeks Chapter 11 Bankruptcy in Florida
MODUS SYSTEMS: Seeks to Hire Armory Consulting Co. as CRO

MORE COWBELL: Cliffwater Corporate Marks $8.4MM Loan at 43% Off
MOSAIC SUSTAINABLE: Reed Smith Represents Consumer Claimants
MOWBRAY WATERMAN: Seeks to Extend Plan Exclusivity to September 17
NO WAKE ZONE: Hires De Leo Law Firm LLC as Counsel
NORADA CAPITAL: Investors Defend Amended Receivership Motion

NORTHLAKE CORNERS: Case Summary & One Unsecured Creditor
NORTHWEST GRADING: Court Extends Cash Collateral Access to Sept. 30
OAKBRIDGE INSURANCE: Cliffwater CLFX Marks $1.2MM Loan at 48% Off
OAKBRIDGE INSURANCE: Cliffwater CLFX Marks $4.3MM Loan at 61% Off
OFFSHORE SAILING: To Sell Sailing School to Community Sailing

ONESOURCE COMMUNITY: Hires Parsonlaw as Human Resources Lawyer
PARLEMENT TECHNOLOGIES: Gets Court OK for Ch. 11 Plan Creditor Vote
PATHSTONE FAMILY: Cliffwater Corporate Marks $2.4MM Loan at 54% Off
PATRIOT GROWTH: Cliffwater Corporate Marks $2.6MM Loan at 50% Off
PATRIOT GROWTH: Cliffwater Corporate Marks $39.9MM Loan at 30% Off

PETRA BORROWER: Cliffwater Corporate Marks $1.6M Loan at 15% Off
PETRA BORROWER: Cliffwater Corporate Marks $4.1MM Loan at 52% Off
PETRUS BUYER: Cliffwater Corporate Marks $5.4MM Loan at 44% Off
PI ESTATES: Seeks Subchapter V Bankruptcy in Florida
PINNACLE GROUP: Court Rejects Landlord's Cash Collateral Request

PREMIER LUMBER: Case Summary & Four Unsecured Creditors
PREMIUM GROUP: Cliffwater Corporate Virtually Writes Off $3.8M Loan
PROJECT REAL: Leon Jones Named Subchapter V Trustee
PT&C GROUP: Cliffwater Corporate Marks $1MM Loan at 65% Off
PT&C GROUP: Cliffwater Corporate Marks $2.6 Million Loan at 62% Off

QUALITY FIRST: Frederick Bunol Named Subchapter V Trustee
QUEST IDENTITY: S&P Assigns 'CCC+' ICR, Outlook Stable
RENASCENCE INC: Gets OK to Use Cash Collateral Until July 28
RFS OPCO: Cliffwater Corporate Marks $3.6MM Loan at 84% Off
RITE AID: Gets Court OK to Sell Thrifty Ice Cream in Chapter 11

RWA WEALTH: Cliffwater Corporate Marks $1.7MM Loan at 95% Off
SAR AMERICAN: Case Summary & Five Unsecured Creditors
SBLA INC: Court Extends Cash Collateral Access to August 8
SCANROCK OIL: Plan Exclusivity Period Extended to August 4
SDJ MAYPEARL: Case Summary & One Unsecured Creditor

SERENE HEALTH: Seeks to Hire Annette Poche as Manager
SERENE HEALTH: Seeks to Hire De Leo Law Firm LLC as Counsel
SHARP DEVELOPERS: James Cross Named Subchapter V Trustee
SHERWOOD HOSPITALITY: Seeks to Extend Plan Exclusivity to July 17
SIB CORP: Cliffwater Corporate Marks $13MM 1L Loan at 31% Off

SIB CORP: Cliffwater Corporate Marks $6 Million Loan at 73% Off
SIGNATURE YHM: Seeks to Extend Plan Exclusivity to September 7
SILVER STATE: Case Summary & Three Unsecured Creditors
SIMPLICITY FINANCIAL: Cliffwater CLFX Marks $9.4MM Loan at 85% Off
SOLAR MOSAIC: States Push to Save Consumer Claims in Ch. 11 Sale

SOUTH HILLS: Unsecureds Will Get 1% to 5% in Liquidating Plan
SPD II MAKAIWA: Unsecureds to Get 1% to 5% in Secured Lender's Plan
SPRING VALLEY: Seeks Chapter 11 Bankruptcy in New Jersey
STEWARD HEALTH: Massachusetts Seeks $52MM of Unpaid Hospital Fees
SUPERIOR INSURANCE: Cliffwater CLFX Marks $3.9MM Loan at 69% Off

SYNERGY MEDICAL: Seeks Subchapter V Bankruptcy in Florida
TBOTG DEVELOPMENT: Seeks to Sell Comal County Property in Auction
TELLICO RENTALS: Gets Interim OK to Use Cash Collateral
TEXSTAR LUMBER: Case Summary & 20 Largest Unsecured Creditors
TIDEWATER INC: Fitch Assigns 'B+' LongTerm IDR, Outlook Stable

TOP MOBILITY SCOOTERS: Seeks Subchapter V Bankruptcy in Florida
TRAC CONSTRUCTION: Seeks Subchapter V Bankruptcy in New York
TRINITY LEGACY: Court Extends Cash Collateral Access to July 7
TRIPLE L TRANSPORT: Seeks Subchapter V Bankruptcy in Indiana
TRUE FOUNDATIONS: Seeks Chapter 11 Bankruptcy in Texas

TWIN CITIES: Daniel Etlinger Named Subchapter V Trustee
TZADIK SIOUX: Hires 605 Real Estate LLC as Broker
UPHEALTH HOLDINGS: Ch. 11 Mediation Halted Due to Bad Faith Dispute
UPPER ROOM: Leon Jones of Jones & Walden Named Subchapter V Trustee
URBAN GIS: Ira Bodenstein Named Subchapter V Trustee

VAIL RESORTS: S&P Rates New $400MM Senior Unsecured Notes 'BB-'
VENTURE GLOBAL: S&P Assigns Prelim 'BB+' Rating on Secured Notes
VICARA GROUP: Katharine Battaia Clark Named Subchapter V Trustee
VIEWSTAR LLC: Gets $21.5MM Stalking Horse Bid from K&K Developers
VIRGINIA BEACH: Court Extends Cash Collateral Access to July 29

VSM PROPERTIES: Gets Interim OK to Use Cash Collateral
VYRIPHARM BIOPHARMACEUTICALS: Continued Operations to Fund Plan
W.D. TOWNLEY: Court OK's Truck & Trailer Sale to Craig's Ranch
WARNER BROS: Non-Boycott Clauses Pose Legal Risks, ELFA Warns
WEST RIVER: Seeks to Hire David T. Cain as Attorney

WOLFSPEED INC: Enters Chapter 11 With Prepackaged Plan
ZAMA&ZAMA INC: Gets Interim OK to Use Cash Collateral Until Aug. 12
ZARA LLC: Seeks Cash Collateral Access
[] Paul Labov Willkie Farr's Restructuring Practice as Partner

                            *********

11 7 TAMBAYAN: Seeks Subchapter V Bankruptcy in Nevada
------------------------------------------------------
On June 25, 2025, 11 7 Tambayan Inc. filed Chapter 11 protection
in the U.S. Bankruptcy Court for the District of Nevada. According
to court filing, the Debtor reports between $100,000 and
$500,000 in debt owed to 1 and 49 creditors. The petition states
funds will be available to unsecured creditors.

           About 11 7 Tambayan Inc.

11 7 Tambayan Inc. is a Nevada corporation operating in Reno.

11 7 Tambayan Inc. sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Nev.Case No. 25-50581) on
June 25, 2025. In its petition, the Debtor reports estimated assets
up to $50,000 and estimated liabilities between $100,000 and
$500,000.

Honorable Bankruptcy Judge Hilary L. Barnes handles the case.

The Debtors are represented by Kevin A. Darby, Esq. at Darby Law
Practice, Ltd.


2700 SLOAT HOLDING: Seeks Chapter 11 Bankruptcy in Nevada
---------------------------------------------------------
On June 26, 2025, 2700 Sloat Holding LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the District of Nevada.
According to court filing, the Debtor reports between $10 million
and $50 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About 2700 Sloat Holding LLC

2700 Sloat Holding LLC is a real estate company specializing in
nonresidential building leasing based on its NAICS classification
(531120).

2700 Sloat Holding LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev.Case No. 25-50584) on June 26,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.


48FORTY SOLUTIONS: Lenders Pitch Potential Debt Restructuring
-------------------------------------------------------------
Ellen Schneider and Olivia Fishlow of Bloomberg Law report that
private lenders are exploring a potential debt restructuring for
48Forty Solutions, less than a year after Summit Partners acquired
a majority stake in the pallet management firm, according to
individuals with knowledge of the matter.

The company's outstanding debt includes approximately $1.75 billion
in private credit, issued as part of a recapitalization in October
by lenders such as Antares Capital, KKR & Co., and BlackRock Inc.,
the sources said.

Representatives for Antares, KKR, and BlackRock declined to
comment, while 48Forty and Summit Partners did not respond to
inquiries, the report states.

                   About 48Forty Solutions

48Forty Solutions provides pallet management solutions. The Company
offers end-to-end pallet, from supply to retrieval, on-site,
reverse logistics, and retail services.


7TH PAR HOLDINGS: Walter Dahl Named Subchapter V Trustee
--------------------------------------------------------
The U.S. Trustee for Region 17 appointed Walter Dahl, Esq., a
partner at Dahl Law, as Subchapter V trustee for 7th Par Holdings,
LLC.

Mr. Dahl will be compensated at $485 per hour for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

In court filings, Mr. Dahl declared that he is a disinterested
person according to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Walter R. Dahl
     Dahl Law
     2304 "N" Street
     Sacramento, CA 95816-5716
     Telephone: (916) 446-8800
     Telecopier: (916) 741-3346
     Email: wdahl@dahllaw.net

                       About 7th Par Holdings

7th Par Holdings, LLC filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. E.D. Calif. Case No. 25-11932) on
June 11, 2025, listing between $1 million and $10 million in assets
and liabilities.

Judge Jennifer E. Niemann presides over the case.


A&F USA PROPERTIES: Case Summary & Four Unsecured Creditors
-----------------------------------------------------------
Debtor: A&F USA Properties, LLC
        6622 Randolph Blvd
        Live Oak, TX 78233-4220

Business Description: A&F USA Properties, LLC is a single-asset
                      real estate debtor whose principal property
                      is located at 621 Highway 146 South in La
                      Porte, Texas.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 25-51499

Judge: Hon. Michael M Parker

Debtor's Counsel: Ronald Smeberg, Esq.
                  THE SMEBERG LAW FIRM
                  4 Imperial Oaks
                  San Antonio TX 78248-1609                
                  Tel: (210) 695-6684
                  Email: ron@smeberg.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alex Sinno as manager.

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

https://www.pacermonitor.com/view/OATKWNY/AF_USA_Properties_LLC__txwbke-25-51499__0001.0.pdf?mcid=tGE4TAMA


ACHIEVERS DYNAMIC: Seeks Subchapter V Bankruptcy in Arizona
-----------------------------------------------------------
On June 27, 2025, Achievers Dynamic Systems International LLC
filed Chapter 11 protection in the U.S. Bankruptcy Court for the
District of Arizona. 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 Achievers Dynamic Systems International
LLC

Achievers Dynamic Systems International LLC is an Arizona-based
healthcare provider operating in the outpatient care sector.

Achievers Dynamic Systems International LLC sought relief under
Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
Ariz. Case No. 25-05941) on June 27, 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 Madeleine C. Wanslee handles the case.


ADVANCE TRANSIT: Hires Ciardi Ciardi & Astin as Counsel
-------------------------------------------------------
Advance Transit Mix Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to employ Ciardi
Ciardi & Astin as counsel.

The firm will provide these services:

     a. give the Debtor legal advice with respect to its powers and
duties as a Debtor-in-Possession;

     b. prepare, on behalf of the Debtor, any necessary, answers,
orders, reports, and other legal papers;

     c. perform all other legal services for the Debtor which may
be necessary herein; and

     d. prepare and file a Plan of Reorganization.

The firm will be paid at these rates:

     Albert A. Ciardi, III            $625 per hour
     Jennifer C. McEntee              $475 per hour
     Sonali Doshi                     $300 per hour
     Stephanie Frizlen, Paralegal      $100 per hour

The firm will be paid a retainer in the amount of $16,738.

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

Albert A. Ciardi, III, Esq., a partner at Ciardi Ciardi & Astin,
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:

     Albert A. Ciardi, III
     Ciardi Ciardi & Astin
     1905 Spruce Street
     Philadelphia, PA
     Tel: (215) 557-3550

              About Advance Transit Mix Inc

Advance Transit Mix Inc. supplies ready-mixed concrete for
construction projects in Glenolden, Pennsylvania. The Company
operates a fleet of trucks for intrastate transport and serves
clients across the region.

Advance Transit Mix Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-12082) on May 27,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Patricia M Mayer handles the case.

The Debtors are represented by Albert A. Ciardi, III, Esq. at
CIARDI CIARDI AND ASTIN.



AGUA VIVA: Seeks to Hire Lane Law Firm PLLC as Counsel
------------------------------------------------------
Agua Viva Ranch, 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        $650 per hour
     Joshua Gordon, Partner      $625 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 $45,000 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 Agua Viva Ranch, LLC

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

Agua Viva Ranch LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10927) on
June 19, 2025. In its petition, the Debtor reports total assets of
$1,535,699 and total debts of $1,861,515.

Honorable Bankruptcy Judge Shad Robinson handles the case.

The Debtors are represented byRobert C. Lane, Esq. at THE LANE LAW
FIRM.


AMC ENTERTAINMENT: Reaches Settlement w/ Creditors to End Lawsuit
-----------------------------------------------------------------
Irene García Pérez of Bloomberg News AMC Entertainment Holdings
Inc. announced Tuesday, July 1, 2025, that it has reached a
settlement with creditors to resolve litigation tied to the
company's 2023 debt restructuring.

As part of the agreement, AMC will receive a $223.3 million capital
infusion, primarily earmarked for refinancing debt maturing next
year. Additionally, $143 million of convertible notes due in 2030
will be immediately converted into equity. The company noted that a
larger portion of those notes may be converted into equity at a
later date, according to Bloomberg News.

                  About AMC Entertainment

AMC Entertainment Holdings, Inc., is engaged in the theatrical
exhibition business. It operates through theatrical exhibition
operations segment. It licenses first-run motion pictures from
distributors owned by film production companies and from
independent distributors. The Company also offers a range of food
and beverage items, which include popcorn; soft drinks; candy;
hotdogs; specialty drinks, including beers, wine and mixed drinks,
and made to order hot foods, including menu choices, such as curly
fries, chicken tenders and mozzarella sticks.

AMC operates over 900 theatres with 10,000 screens globally,
including over 661 theatres with 8,200 screens in the United States
and over 244 theatres with approximately 2,200 screens in Europe.
The Company's subsidiary also includes Carmike Cinemas, Inc.

AMC was forced to close its shutter its theaters when the Covid-19
pandemic struck in March 2020. It eventually reopened its theaters
but admissions remained substantially low.

The world's biggest theater chain said in an October 2020 filing
that liquidity will be largely depleted by the end of the year or
early 2021 if attendance doesn't pick up, and it's exploring
actions that include asset sales and joint ventures.

However, AMC managed to raise $1.8 billion in 2021, capitalizing on
the rally triggered by retail investors' interest in meme stocks.

                           *     *     *

In February 2024, S&P Global Ratings raised its issuer credit
rating to 'CCC+' from 'SD' (selective default) on AMC Entertainment
Holdings Inc., the world's largest motion picture exhibitor. S&P
also raised its issue-level rating on the second-lien notes to
'CCC-' from 'D'.

The negative outlook reflects S&P's expectation that AMC's revenue
will decline 8%-9% in 2024 due to a limited theatrical release
slate, resulting in negative free operating cash flow (FOCF) and
leverage around 8x.

AMC completed a series of distressed exchanges to swap an aggregate
$123 million of its second-lien notes due 2026 for common equity.


AMERICA'S GARDENING: Gets Interim OK to Use Cash Collateral
-----------------------------------------------------------
America's Gardening Resource, Inc. and affiliates got the green
light from the U.S. Bankruptcy Court for the District of Delaware
to use cash collateral.

The court's order authorized the Debtors' interim use of cash
collateral until July 18 or until the occurrence of so-called
termination events to pay expenses in accordance with their budget,
subject to a permitted variance of 10%
per budget line item on a monthly basis.

The budget covers the period from the petition date through July
27.

As protection for any diminution in the value of its collateral,
lender Bank of America, N.A. will be granted valid, effective, and
fully perfected post-petition replacement liens on all property or
interests in property of the Debtors and all proceeds thereof,
including cash collateral.

Northfield Savings Bank, a secured creditor, will be granted the
same liens and rights but subordinate to the carveout and to the
liens and rights of Bank of America and Banc of America Leasing &
Capital, LLC.

As further protection, the Debtors were ordered to make these
payments to the secured parties:

   (i) accrued and unpaid interest on the loan under the Amended
and Restated Loan Agreement with Bank of America, at the contract
rate;

  (ii) monthly payments of principal and interest in the amount of
$20,471.81 on the equipment loan under the Master Loan and Security
Agreement with Banc of America Leasing & Capital, with each such
payment subject to a grace period of 10 days in accordance with the
agreement;

(iii) all monthly payments billed under the Corporate Card
Services Agreement, dated April 30, 2019; and

  (iv) monthly interest payments to NSB at the contract rate.

To the extent of any diminution in value, the secured parties will
be granted superpriority administrative expense claims under
Section 507(b) of the Bankruptcy Code against the Debtors' estates,
having priority over all other claims.

The final hearing is scheduled for July 16.

America's Gardening Resource's business is highly seasonal, with
peak activity during the gardening season (March–June) and the
holiday season (November–December). It lost access to its line of
credit with Bank of America, which had been used to fund operations
between busy seasons. Due to ongoing liquidity challenges,
America's Gardening Resource and its affiliated debtors filed for
Chapter 11 bankruptcy to pursue a value-maximizing sale of their
assets. America's Gardening Resource plans to fund operations
during this process using its existing cash and revenue generated
during bankruptcy, both of which are part of the collateral
securing its prepetition credit facility.

America's Gardening Resource has approximately $8.2 million in
secured debt and $4 million in cash, and it intends to use this
cash collateral to cover payroll, insurance, taxes, and other
critical obligations during the bankruptcy process. America's
Gardening Resource and its advisors explored various financing
options, including debtor-in-possession financing, but failed to
obtain viable offers. Instead, America's Gardening Resource
negotiated with its secured lenders for consensual use of the cash
collateral and received their approval.

The Debtor's prepetition capital structure includes loans from Bank
of America and NSB. The BofA debt includes a $4.4 million line of
credit (maturing June 2025), a $616,000 equipment loan (maturing
January 2028), and a revolving credit card facility currently
capped at $750,000. These debts are secured by substantially all of
assets of America's Gardening Resource, including real estate and
equipment. NSB loans total about $3.17 million and are secured by a
first lien on America's Gardening Resource's headquarters property
and subordinate liens on other assets.

America's Gardening Resource had previously defaulted on financial
covenants in its BofA agreements. As a result, it entered into a
series of forbearance agreements with BofA throughout 2024 and
early 2025. With no ability to repay or refinance the obligations,
America's Gardening Resource filed for Chapter 11.

            About America's Gardening Resource Inc.

America's Gardening Resource, Inc. sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No.
25-11180-BLS) on June 20, 2025. In the petition signed by David M.
Baker, chief restructuring officer, the Debtor disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Brendan Linehan Shannon oversees the case.

Patrick J. Reilley, Esq., at Cole Schotz, PC, represents the Debtor
as legal counsel.

Bank of America, as lender, is represented by:

Carl N. Kunz, III, Esq.
Eric J. Monzo, Esq.
MORRIS JAMES LLP
500 Delaware Avenue, Suite
1500 Wilmington, DE 19899-2306
Telephone: (302) 888-6800
Facsimile: (302) 571-1750
Email: ckunz@morrisjames.com
       emonzo@morrisjames.com

  -- and --

CHAPMAN AND CUTLER LLP
Daniel F. Flores, Esq.
J. Alex Kress, Esq.
CHAPMAN AND CUTLER LLP
1270 Avenue of the Americas, 30th Fl.
New York, NY 10020
Telephone: (212) 655-6000
Facsimile: (212) 697-7210
Email: dflores@chapman.com
       akress@chapman.com


AMKOR TECHNOLOGY: Fitch Affirms BB+ LongTerm IDR, Outlook Positive
------------------------------------------------------------------
Fitch Ratings has affirmed Amkor Technology, Inc's Long-Term Issuer
Default Rating (IDR) at 'BB+' and Senior Unsecured Rating at 'BB+'
with a Recovery Rating of 'RR4'. The Rating Outlook is Positive.
The ratings and Outlook reflect Fitch's expectations that FCF
margins will strengthen with the resumption of positive revenue
growth. Amkor's financial policies will remain conservative, with
EBITDA leverage in the 1.0x-1.5x range, well below Fitch's 3.0x
positive rating sensitivity.

Key Rating Drivers

Modest but Strengthening FCF: The resumption of positive revenue
growth in 2026 should drive FCF margins to expand and average at
least 3%, up from flat to low-single digits previously. Amkor's
capital spending is likely to remain elevated through the forecast
period due to spending to expand its advanced footprint in the U.S.
The company will benefit from grants under U.S. CHIPS funding and
Fitch anticipates Amkor will moderate the pace of investments with
end demand.

Conservative Financial Policies: Amkor's financial profile is
conservative for the rating, partly supported by its operating
cyclicality. EBITDA leverage is forecast to remain below its 1.5x
long-term target and Fitch's 3.0x positive rating sensitivity.
Increasing FCF over the forecast period will boost cash balances,
which remain at the higher end of historical balances and will
support elevated investment requirements over the next several
years.

Barriers to Entry: Cumulative investments and expectations for high
ongoing capital intensity are likely to sustain barriers to entry
and, therefore, Amkor's solid market position over the medium term.
Fitch projects capital intensity will increase to 15% of net sales,
supporting Amkor's investment in expanding its geographic
footprint, particularly through the construction of its new
advanced packaging facility in Arizona. Leading foundries are using
their financial flexibility to invest in in-house packaging
capabilities and are competing with outsourced semiconductor
assembly and test providers.

Strong Market Position: Amkor's long-term customer relationships
and large-scale global footprint provide a sustainable competitive
advantage. The company is the second-largest OSAT services provider
by revenue but the only pure-play provider with a significant
advanced footprint outside Asia-Pacific. Increasing semiconductor
complexity and higher investment requirements in chip design and
front-end manufacturing position Amkor favorably against
insourcing.

Secular Growth Drivers: Increasing semiconductor content and
ongoing outsourcing trends support low- to mid-single-digit
long-term growth for Amkor. Accelerating digitalization and
electrification continue to drive increasing semiconductor
penetration across a wide range of products, doubling growth from
volume alone in certain markets. Outsourcing trends in
semiconductor production, particularly for advanced technologies,
are expanding Amkor's addressable market.

Customer Concentration: Amkor's operating cyclicality is heightened
by customer concentration, with Apple Inc. (NR) alone accounting or
30.8% of 2024 consolidated net sales. The shorter product life
cycles and uncertainty related to commercial adoption for
smartphones and other consumer-oriented products reduce the
visibility of its revenue and cash flow despite the long-standing,
collaborative relationships with customers. Amkor's share with
leading smartphone providers also positions it to benefit from
defensible market positions.

Peer Analysis

Amkor's financial structure is considerably more conservative than
Seagate Technology Holdings Public Limited Company (BB+/Stable) and
Western Digital Corp. (BB+/Stable). Amkor's long-term EBITDA
leverage target is 1.5x, compared with Seagate's and Western
Digital's more opportunistic financial policies, due in part to
Amkor's less cyclical revenue profile. From a diversification
standpoint, increasing customer engagement and less-cyclical demand
offset Amkor's concentration to handset makers, particularly Apple,
while Seagate and Western Digital are increasingly exposed to cloud
service provider spending.

Flex Ltd. (BBB-/Positive) and Jabil Inc. (BBB-/Stable) have
less-favorable profitability than Amkor due to the competitive
electronics manufacturing services (EMS) landscape. Amkor's
long-term EBITDA leverage target of 1.5x is favorable compared to
Jabil and Flex, which both have leverage above 2x. Amkor's FCF
margins in the low- to mid-single digits are comparable to those of
Jabil and Flex.

Key Assumptions

- Low single digit decline in revenue in 2025 before recovering in
2026;

- Low- to mid-single digit positive revenue growth in 2027-2028;

- Gross profit margin expansion driving EBITDA margins to the high
teens;

- Capital intensity expand to the mid-teens by 2027;

- Debt is refinanced;

- Modest dividend growth and use of FCF to support investment
requirements.

RATING SENSITIVITIES

Fitch could revise the Outlook to Stable at the current rating
level if Fitch expects Amkor to maintain EBITDA leverage at
3.0x-3.5x or FCF in the low-single digits over the longer term.

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

- FCF margins sustained near 1% or below;

- Sustained EBITDA leverage above 3.5x and CFO less capex to total
debt sustained below 10%;

- Operating profile negatively affected by a weaker competitive
position or loss of market share, resulting in lower-than-expected
revenue growth or EBITDA margins.

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

- Expectations for FCF margins averaging 3% through the cycle

- Expectations for EBITDA leverage sustained below 3.0x.

Liquidity and Debt Structure

Amkor's liquidity is sufficient and was supported by $1.1 billion
of cash and cash equivalents and $505 million of short-term
investments, as of March 31, 2025. On May 9, 2025, Amkor added to
liquidity by entering a $1 billion U.S.-based revolving credit
facility expiring May 9, 2030, which replaced the company's undrawn
$600 million asset-based lending facility in Singapore. Fitch's
expectation for $100 million-$300 million of annual FCF through the
forecast period also supports liquidity.

Issuer Profile

Amkor Technology Inc. is the number two global provider of
outsourced semiconductor assembly and test (OSAT) services by
revenue and the number one for automotive markets.

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

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

ESG Considerations

Fitch has revised the score from '4' to '3' due to reduce risk
associated with governance.

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

   Entity/Debt                 Rating         Recovery   Prior
   -----------                 ------         --------   -----
Amkor Technology, Inc.   LT IDR BB+  Affirmed            BB+

   senior unsecured      LT     BB+  Affirmed   RR4      BB+


APPLICO LLC: Gets Final OK to Use Cash Collateral
-------------------------------------------------
Applico, LLC received final approval from the U.S. Bankruptcy Court
for the Northern District of Alabama, Western Division, to use its
secured creditors' cash collateral.

The final order penned by Judge Jennifer Henderson authorized the
Debtor to utilize cash collateral in accordance with its budget,
which shows total expenses of $52,100. This cash collateral
includes cash, deposit accounts, accounts receivable and the
proceeds thereof.

Secured creditors will be provided with protection in the form of a
replacement lien on the post-petition accounts receivables in case
the value of their lien is decreased by the Debtor's use of their
cash collateral.

The final order required the Debtor to escrow in trust with its
bankruptcy counsel the sum of $1,000 per month for payment of
Subchapter V trustee fees and expenses.  These escrowed funds are
not subject to, and are exempt from, the replacement lien.

The terms of the final order will remain in full force and effect
unless modified or vacated by subsequent order of the court.

As of the petition date, the Debtor had approximately $1,500 on
deposit in its account with Alabama One Credit Union and
collectable accounts receivable estimated at $34,500. The Debtor's
average monthly income is approximately $50,000.

                         About Applico LLC

Applico, LLC is a business that sells and installs appliances,
grills, lighting, and fixtures, and provides related repair
services in Tuscaloosa, Ala.

Applico filed Chapter 11 petition (Bank. N.D. Ala. Case No.
25-70561) on April 23, 2025, listing up to $500,000 in assets and
up to $10 million in liabilities. Chris Didyoung, member, signed
the petition.

Judge Jennifer H. Henderson oversees the case.

Anthony Brian Bush, Esq., at The Bush Law Firm, LLC, represents the
Debtor as bankruptcy counsel.


ARAX MIDCO: Cliffwater Corporate Virtually Writes Off $2.1MM Loan
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,155,173
loan extended to Arax MidCo, LLC to market at $43,524 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 Arax MidCo, LLC. The
loan accrues interest at a rate of 9.52% per annum. The loan
matures on April 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 Arax MidCo, LLC

Arax MidCo, LLC is a subsidiary of Arax Investment Partners, a
buy-and-build platform in wealth and asset management, combining
Arax's best-in-class executive team's vision with RedBird Capital's
strong track record, expertise, and network in the financial
services sector.


ARDEN INSURANCE: Cliffwater CLF Marks $457,000 Loan at 82% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $457,317
loan extended to Arden Insurance Services LLC to market at $83,783
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 Arden Insurance
Services LLC. The loan accrues interest at a rate of 9.54% per
annum. The loan matures on November 27, 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 Arden Insurance Services LLC

Arden Insurance Services LLC is a tech-enabled insurance company
intended to provide insurance products for residential and
commercial property.


ARRAY TECHNOLOGIES: S&P Affirms 'B+' ICR on Notes Issuance
----------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on Array
Technologies Inc.

S&P said, "At the same time, we withdrew our 'BB-' issue-level
rating on Array's $575 million senior secured term loan ($232.8
million outstanding), following its repayment using proceeds from
the new convertible senior notes.

"The stable outlook reflects our expectation that significant
backlog will convert to revenue in 2025, and liquidity will remain
adequate, supported by healthy cash balances and revolving credit
facility availability."

On June 17, 2025, Array announced it entered into an equity
purchase agreement with engineered foundations and fixed-tilt
mounting systems manufacturer APA Solar LLC in a transaction valued
at about $179 million ($210 million purchase price, less $31
million of potential tax savings). Array plans to fund the upfront
purchase price through cash on hand.

On June 27, 2025, the company closed a private offering of $345
million of 2.875% convertible senior notes due 2031, and it plans
to use a significant portion of the proceeds to repay existing debt
balances.

S&P said, "The financing transaction is largely credit neutral in
our view. This is because the company plans to use a significant
portion of the proceeds from the new convertible notes to repay
existing debt balances, including to repay its remaining $232.8
million of term loan debt, and $100 million of principal on its
existing 1% senior unsecured notes due 2028. Additionally, the
company plans to acquire capped calls for $35.1 million and use
about $11 million to pay transaction fees and expenses. The
financing improves the company's maturity profile, increasing the
weighted-average maturity of its capital structure and allows for a
three-year gap between large potential bullet payments in 2028 and
2031. Still, these generally positive credit factors are partially
offset by a slight increase in total debt resulting from the new
convertible notes issuance.

"We view Array's expected acquisition of APA Solar LLC as only
modestly enhancing Array's business position. The APA Solar
acquisition, which is expected to close in the third quarter 2025,
will increase Array's revenue and S&P Global Ratings-adjusted
EBITDA by roughly 12% and 12.2%, respectively, on a full year
basis, and modestly improve its profitability. We view the combined
entity as benefiting from the potential realization of operating
leverage on higher volumes, and from cross selling, material
procurement, and other scaling opportunities. The enhanced value
proposition to its large-scale solar project customers in bundling
services will also improve the company's competitiveness, in our
view.

"While the acquisition modestly enhances our view of Array's
business, we continue to view its business as highly volatile. In
the near and intermediate term, macroeconomic conditions, U.S.
policy, and supply chain challenges will weigh on growth prospects.
Costs for solar project construction continue to increase,
exacerbated by sustained high interest rates and the prospect of
tariff costs and disruptions. The risk of a partial repeal of IRA
manufacturing tax credits, which have benefitted Array's EBITDA in
the past several quarters, introduces the potential for profit
headwinds. Further, we view the operating environment as highly
competitive. Array and its two largest competitors make up about
90% of the U.S. market and over half of the global market for
photovoltaic (PV) trackers, competing aggressively on price,
product quality, differentiation, and bundling; and lead times and
customer service. Nevertheless, we maintain our view that secular
tailwinds to growth for the solar industry will support continued
investments in solar energy generation and industry profitability,
in aggregate.

"We forecast Array will continue to generate good levels of free
operating cash flow (FOCF). We view improved revenue growth over
the past couple of quarters as indicative of easing operating
conditions and improving policy clarity for its solar project
customers, a trend which bodes well for near-term growth prospects
and supports our forecast for around $113 million of FOCF in 2025.
Our forecast for FOCF in 2025 reflects a modest decline from 2024,
due to our assumption for working capital to be a use of cash this
year, compared to a source in 2024, and for capital expenditures
(capex) to be higher this year as revenue grows.

"While the company experienced a significant reduction in volumes
in 2024 amid shipment pushouts, it generated good S&P Global
Ratings-adjusted FOCF of about $141 million. This reflects, in
part, growth in contract liabilities (advanced payments) amid an
increase in shipment pushouts and $39 million in catch-up IRA tax
credit benefits via vendor rebates for products sold in 2023 (due
to incentive rules that applied retroactively). While the risk of a
partial repeal of IRA manufacturing tax credits is a risk we are
closely monitoring, we still incorporate these benefits into our
current base case.

"The stable outlook reflects our expectation that significant
backlog will convert to revenue in 2025 and that liquidity will
remain adequate, supported by healthy cash balances and revolving
credit facility availability. While we assume S&P Global
Ratings-adjusted leverage will remain high, at about 5.1x pro forma
for the company's acquisition of APA Solar and 2031 notes issuance,
we forecast S&P Global Ratings-adjusted EBITDA interest coverage to
remain above 2x in 2025, aligned with expectations for the rating.

"We could lower our ratings if we expect S&P Global Ratings EBITDA
interest coverage would be maintained below 2x, or if the company
is unable to demonstrate a consistent track record of FOCF to debt
above 5%."

This could occur if:

-- Extended project delays or order cancellations due to a lack of
regulatory clarity, module availability, permitting backlogs, or
other factors substantially reduce revenue and earnings, or

-- The company experiences significant setbacks in gross margin
from recent improvements, possibly due to price reductions needed
to win new projects or increased input costs that it is unable to
pass through to its customers.

While unlikely within the next year or so, S&P could raise its
ratings if the company's EBITDA interest coverage is sustained
above 3x and it demonstrates a track record of stable earnings and
consistent positive FOCF at scale.

This could occur if:

-- Project delays abate and revenue re-accelerates on conversion
of the company's large backlog, and

-- New product introductions and increased project win rates lead
to volume growth, sustained pricing levels, and higher EBITDA.



ASCEND PARTNER: Cliffwater Corporate Marks $44MM Loan at 72% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$44,021,827 loan extended to Ascend Partner Services LLC to market
at $12,347,114 or 28% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Ascend Partner
Services LLC. The loan accrues interest at a rate of 8.75% per
annum. The loan matures on August 9, 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 Ascend Partner Services LLC

Ascend Partners Services LLC is a leading provider of bespoke
Enterprise Performance Management (EPM), data and AI solutions, and
the most trusted OneStream Diamond Partner.


ASCEND PARTNER: Cliffwater Corporate Marks $8.8MM Loan at 64% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $8,804,365
loan extended to Ascend Partner Services LLC to market at
$3,156,163 or 36% 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 Ascend Partner
Services LLC. The loan accrues interest at a rate of 8.82% per
annum. The loan matures on August 9, 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 Ascend Partner Services LLC

Ascend Partners Services LLC is a leading provider of bespoke
Enterprise Performance Management (EPM), data and AI solutions, and
the most trusted OneStream Diamond Partner.


ASCEND PERFORMANCE: Gibson Dunn & Howley Revise Rule 2019 Statement
-------------------------------------------------------------------
In the Chapter 11 cases of Ascend Performance Materials Holdings
Inc. and affiliates, the Ad Hoc Group filed a second amended
verified statement pursuant to Rule 2019 of the Federal Rules of
Bankruptcy Procedure.

On or around September 2024, the Ad Hoc Group was formed and
retained attorneys currently affiliated with Gibson, Dunn &
Crutcher LLP to represent it as counsel in connection with a
potential restructuring of the outstanding debt obligations of the
Debtors.

Subsequently, in March 2025, Gibson Dunn contacted Howley Law PLLC
to serve as Texas co-counsel to the Ad Hoc Group.

Gibson Dunn and Howley do not represent or purport to represent any
other entities in connection with the Debtors' chapter 11 cases.
Gibson Dunn and Howley do not represent the Ad Hoc Group as a
"committee" (as such term is used in the Bankruptcy Code and
Bankruptcy Rules) and do not undertake to represent the interests
of, and are not fiduciaries for, any creditor, party in interest,
or other entity that has not signed a retention agreement with
Gibson Dunn.

In addition, the Ad Hoc Group does not represent or purport to
represent any other entities in connection with the Debtors'
chapter 11 cases. Each member of the Ad Hoc Group does not
represent the interests of, nor act as a fiduciary for, any person
or entity other than itself in connection with the Debtors' chapter
11 cases.

The Ad Hoc Group Members' address and the nature and amount of
disclosable economic interests held in relation to the Debtors
are:

1. Apex Credit Partners, LLC
   520 Madison Ave, 12th Floor
   New York, NY 10022
   * Super Priority First Lien Term Loans ($1,367,266.25)
   * First Lien Term Loans ($10,089,233.31)

2. ArrowMark Colorado Holdings LLC, on behalf of certain funds and
accounts it manages or advises
   100 Fillmore Street, Suite 325
   Denver, Colorado 80206
   * Super Priority First Lien Term Loans ($124,141.45)
   * First Lien Term Loans ($2,748,167.10)

3. Bank of America N.A., solely with respect to its US Distressed &
Special Situations Group
   NC1-028-19-06, 150 N College St
   Charlotte, NC 28255
   * Super Priority First Lien Term Loans ($183,678.09)
   * First Lien Term Loans ($384,882.85)

4. Blue Owl Liquid Credit Advisors LLC
   1 Greenwich Plaza, Suite C, 2nd Floor
   Greenwich, CT 06830
   * Super Priority First Lien Term Loans ($424,187.69)
   * First Lien Term Loans ($3,130,135.41)

5. Elmwood Asset Management LLC
   575 5th Avenue, 34th Floor
   New York, NY 10017
   * Super Priority First Lien Term Loans ($13,943,668.52)
   * First Lien Term Loans ($32,365,028.87)

6. Invesco Senior Secured Management, Inc., on behalf of certain
funds and accounts it manages or advises
   225 Liberty Street
   New York, NY 10281
   * Super Priority First Lien Term Loans ($39,335,450.73)
   * First Lien Term Loans ($83,343,579.13)

7. MJX Asset Management LLC
   12 East 49th Street, 38th Floor
   New York, New Yo
   * Super Priority First Lien Term Loans ($27,405,257.93)
   * First Lien Term Loans ($61,668,548.66)

8. Nuveen Asset Management, LLC
   8625 Andrew Carnegie Blvd.
   Charlotte, NC 28262
   * Super Priority First Lien Term Loans ($38,593,459.43)
   * First Lien Term Loans ($87,418,993.05)

9. ORIX Advisors, LLC (d/b/a SIGNAL PEAK CAPITAL MANAGEMENT)
   2001 Ross Avenue, Suite 1900
   Dallas, TX 75201
   * Super Priority First Lien Term Loans ($352,614.55)
   * First Lien Term Loans ($7,805,963.87)

10. Saranac CLO VIII Limited
   1540 Broadway, Suite 1630
   New York, NY 10036
   * First Lien Term Loans ($1,994,805.19)

11. Silver Point Capital, L.P., as Investment Manager on behalf of
certain affiliated Funds
   2 Greenwich Plaza, Suite 1
   Greenwich CT, 06830
   * Super Priority First Lien Term Loans ($235,972,620.20)
   * First Lien Term Loans ($557,246,211.00)

12. Strategic Value Capital Solutions II MF LP
   100 West Putnam Avenue
   Greenwich, CT 06830
   * First Lien Term Loans ($1,094,512.00)

13. Certain funds and/or accounts, or subsidiaries of such funds
and/or accounts, managed, advised,
    controlled, or represented by Sycamore Tree Capital Partners,
LP
   2101 Cedar Springs Road, Suite 1250
   Dallas, TX 75201
   * Super Priority First Lien Term Loans ($101,374.02)
   * First Lien Term Loans ($748,051.95)

14. UBS Asset Management
   11 Madison Avenue
   New York, NY 10010
   * Super Priority First Lien Term Loans ($60,947,238.07)
   * First Lien Term Loans ($141,361,574.24)

15. Voya Investment Management LLC
   7337 E. Doubletree Ranch Road
   Scottsdale, Arizona 85258
   * Super Priority First Lien Term Loans ($5,309,121.27)
   * First Lien Term Loans ($14,080,004.56)

26. Western Alliance Bank
   One East Washington St, Suite 1400
   One East Washington St, Suite 1400
   * Super Priority First Lien Term Loans ($436,329.84)
   * First Lien Term Loans ($9,659,201.63)

Attorneys for the Ad Hoc Group of Term Lenders:

     Tom A. Howley Esq.
     Eric Terry, Esq.
     HOWLEY LAW PLLC
     700 Louisiana Street, Suite 4545
     Houston, TX 77002
     Telephone: 713-333-9125
     Email: tom@howley-law.com
            eric@howley-law.com

     Scott J. Greenberg, Esq.
     Jason Zachary Goldstein, Esq.
     Tommy Scheffer, Esq.
     GIBSON, DUNN & CRUTCHER LLP
     200 Park Avenue
     New York, New York 10166
     Telephone: 212-351-4000
     Email: sgreenberg@gibsondunn.com
            jgoldstein@gibsondunn.com
            tscheffer@gibsondunn.com

     -and-

     AnnElyse Scarlett Gains, Esq.
     GIBSON, DUNN & CRUTCHER
     1700 M Street N.W.
     Washington, D.C. 20036-3504
     Telephone: 202-955-8500
     Email: agains@gibsondunn.com

                About Ascend Performance Materials

Ascend Performance Materials Holdings Inc., 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.

The Debtors filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90127) on April 21,
2025, with $1 billion to $10 billion in assets and liabilities.
Robert Del Genio, chief restructuring officer, signed the
petitions.

Judge Christopher M. Lopez presides over the case.

The Debtors tapped Bracewell LLP as co-bankruptcy counsel; KIRKLAND
& ELLIS LLP and KIRKLAND & ELLIS INTERNATIONAL LLP as restructuring
counsel; PJT Partners, Inc. as investment banker; and FTI
Consulting, Inc. as restructuring advisor.


ASHMARK CONSTRUCTION: Case Summary & Two Unsecured Creditors
------------------------------------------------------------
Debtor: Ashmark Construction, LLC
        5640 W. Maple, Suite 300
        West Bloomfield, MI 48322

Business Description: Ashmark Construction, LLC is a commercial
                      contractor and developer based in West
                      Bloomfield, Michigan.  The Company
                      specializes in commercial construction and
                      motorsport garage projects, offering turnkey
                      solutions with a focus on quality control,
                      scheduling, and client service.  Ashmark has
                      completed over 50 projects within private
                      luxury garage communities, delivering
                      customized units designed for automotive
                      enthusiasts.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Eastern District of Michigan

Case No.: 25-46693

Judge: Hon. Paul R Hage

Debtor's Counsel: Kimberly Ross Clayson, Esq.
                  TAFT STETTINIUS & HOLLISTER LLP
                  27777 Franklin Rd.
                  Suite 2500
                  Southfield, MI 48034
                  Tel: (248) 351-3000
                  E-mail: kclayson@taftlaw.com

Total Assets: $1,367,166

Total Liabilities: $510,887

The petition was signed by Martin Renel as managing member.

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

https://www.pacermonitor.com/view/4FL477Q/Martin_Ashmark_Construction_LLC__miebke-25-46693__0004.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/2VJ4P4Y/Martin_Ashmark_Construction_LLC__miebke-25-46693__0001.0.pdf?mcid=tGE4TAMA


AUXILIARY OPERATIONS: Seeks Chapter 11 Bankruptcy in Indiana
------------------------------------------------------------
On June 26, 2025, Auxiliary Operations Resource Inc. filed Chapter
11 protection in the U.S. Bankruptcy Court for the Southern
District of Indiana.  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 Auxiliary Operations Resource Inc.

Auxiliary Operations Resource Inc., also known as Aux-Ops, is a
warehousing and logistics services provider based in Plainfield,
Indiana. The company operates in the transportation and warehousing
industry, primarily providing general warehousing and storage
services as indicated by its NAICS code 493110. The company has
multiple facilities in Indiana and works with various staffing
agencies to support its operations.

Auxiliary Operations Resource Inc. sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-03727)
on June 2, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge James M. Carr handles the case.

The Debtors are represented by Jeffrey M. Hester, Esq. at Hester
Baker Krebs LLC.


AVALON SAI: Gets Final OK to Use Cash Collateral
------------------------------------------------
Avalon Sai Hotels, LLC received final approval from the U.S.
Bankruptcy Court for the Southern District of Texas, Houston
Division, to use cash collateral.

The final order authorized the Debtor to use the cash collateral of
International Bank of Commerce to fund ongoing hotel operations
during its Chapter 11 bankruptcy proceedings.

Unless extended further with the written consent of the Debtor's
lender, this authorization will terminate upon appointment of a
Chapter 11 or Chapter 7 trustee or upon the occurrence of an
uncured event of default by the Debtor.

As protection, IBC will be granted senior replacement liens on all
property that is currently subject to any pre-bankruptcy liens in
favor of the lender and all property that was unencumbered as of
the petition date; and junior replacement liens on all property of
the Debtor's estate, subject to pre-bankruptcy senior liens. The
replacement liens do not apply to any avoidance actions.  

In addition, the Debtor was ordered to continue its monthly
payments of $25,000 to the lender. The monthly payments started in
May.

As of the petition date, the Debtor owed secured debt to IBC of not
less than $3,891,332.

The final order also incorporates key stipulations by the Debtor,
including acknowledgment of the validity, enforceability, and
priority of the lender's pre-bankruptcy liens and the outstanding
obligations under the loan agreement. The Debtor further agreed to
provide timely financial reports, cooperate with the lender's
professionals, and comply with all non-financial covenants.

In addition, the final order sets forth a series of court-approved
sale milestones to ensure progress toward a transaction that would
monetize the Debtor's assets.  These milestones require, among
other things, court approval of the sale by July 9 and closing of
the sale by August 31. Failure to meet these milestones without the
lender's written consent constitutes an event of default.

Other events of default include the Debtor's failure to comply with
budget limitations, failure to make adequate protection or
professional fee payments, use of collateral in violation of the
final order, submission of materially misleading financial reports,
or failure to comply with non-financial covenants.

                     About Avalon Sai Hotels

Avalon Sai Hotels, LLC is a real estate firm and the owner of the
Comfort Inn in Houston, Texas.

Avalon Sai Hotels sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Texas Case No. 25-31798) on March 31,
2025. In its petition, the Debtor reported total assets of
$6,662,000 and total debts of $5,563,263.

Judge Jeffrey P. Norman oversees the case.

Richard L. Fuqua, II, Esq., at Fuqua & Associates, P.C. is the
Debtor's legal counsel.

International Bank of Commerce, as secured lender, is represented
by:

   Eric M. English, Esq.  
   Michael B. Dearman, Esq.
   1000 Main St., 36th Floor
   Houston, TX 77002
   Tel: (713) 226-6000
   Fax: (713) 226-6295
   eenglish@porterhedges.com
   mdearman@porterhedges.com


BABYLON BUYER: Cliffwater Corporate Marks $379,000 Loan at 18% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $379,377
loan extended to Babylon Buyer, Inc. to market at $312,331 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 Revolver Loan to Babylon Buyer, Inc.
The loan accrues interest at a rate of 10.07% per annum. The loan
matures on March 8, 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 Babylon Buyer, Inc.

Babylon Buyer, Inc. specializes in offering various
insurance-related services to its clients.


BAUDAX BIO: Seeks to Extend Plan Exclusivity to August 15
---------------------------------------------------------
Baudax Bio, Inc., asked the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania to extend its exclusivity periods to file
a plan of reorganization and obtain acceptance thereof to August 15
and October 14, 2025, respectively.

In the instant case, cause for a seventh extension of exclusivity
exists because the Debtor requires additional time to analyze the
claims of ordinary and alleged administrative creditors, organize
its creditors into appropriate classes, and craft a plan of
reorganization that can accommodate various and previously
unanticipated forms of monetizing the Debtor's intellectual
property.

The Debtor explains that it would be premature (at best), as well
as a waste of time, effort and resources, including judicial
resources, to require the Debtor to file a plan by June 16, 2025 to
maintain its right to exclusivity.

The Debtor claims that it should be afforded a full and fair
opportunity to negotiate, propose, and seek acceptances of a
confirmable plan of reorganization. The Debtor believes that the
extension of the exclusive periods is warranted and appropriate
under the circumstances and should be granted.

It is submitted that, particularly in light of the anticipated
liquidation plan to be proposed by the Debtor, the extension
requested will not prejudice the legitimate interests of any
creditor and will likely afford parties in interest an opportunity
to pursue to fruition the beneficial objectives of a consensual
reorganization.

Baudax Bio, Inc., is represented by:

     David B. Smith, Esq.
     Nicholas M. Engel, Esq.
     SMITH KANE HOLMAN, LLC
     112 Moores Road, Suite 300
     Malvern, PA 19355
     Telephone: (610) 407-7215
     Facsimile: (610) 407-7218
     Email: dsmith@skhlaw.com

                     About Baudax Bio, Inc.

Baudax Bio, Inc. is a biotechnology company focused on developing T
cell receptor therapies utilizing human regulatory T cells, as well
as a portfolio of clinical stage neuromuscular blocking agents and
an associated reversal agent.

Baudax Bio, Inc., filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No.
24-10583) on February 22, 2024, listing up to $50,000 in assets and
$10 million to $50 million in liabilities. The petition was signed
by Gerri Henwood as chief executive officer.

Judge Magdeline D. Coleman presides over the case.

David B. Smith, Esq., at SMITH KANE HOLMAN, LLC, is the Debtor's
counsel.


BAYOU TECHNOLOGIES: Armistead Long Named Subchapter V Trustee
-------------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Armistead Long as
Subchapter V trustee for Bayou Technologies, LLC.

Mr. Long will be paid an hourly fee of $440 for his services as
Subchapter V trustee and an hourly fee of $150 for his legal
assistant. In addition, the Subchapter V trustee will receive
reimbursement for work-related expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Armistead M. Long
     400 E. Kaliste Saloom Road
     Lafayette LA 70508
     Email: along@gamb.com
     Phone: (337) 237-0132

                      About Bayou Technologies

Bayou Technologies LLC, doing business as Bayou Marketing, provides
information technology services, cybersecurity solutions, and
digital marketing through its Bayou Marketing division. It operates
in Lake Charles, Louisiana, offering managed IT, VoIP, networking,
web development, SEO, and multimedia content services.

Bayou Technologies filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. W.D. La. Case No. 25-20275) on June
10, 2025. In its petition, the Debtor reported total assets of
$44,041 and total liabilities of $1,401,754.

Judge John W. Kolwe handles the case.

The Debtor is represented by Wade N. Kelly, Esq., at Wade N. Kelly,
LLC.


BB 23 HOLLOW: Court OKs Deal to Use U.S. Bank's Cash Collateral
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved a stipulation between BB 23 Hollow Ridge, LLC and U.S.
Bank Trust National Association, allowing the use of cash
collateral and providing protection to the lender.

The stipulation authorizes the Debtor to use its rental income,
which constitutes the lender's cash collateral, to operate its
property and cover operating expenses through confirmation of its
Chapter 11 plan.

As protection for any diminution in value of its interest in the
cash collateral, U.S. Bank will be granted a replacement lien on
and security interest in the cash collateral, subject to a
carveout.

The lender's interest in cash collateral does not include the
Debtor's avoidance claims and causes of action

As additional protection, the lender will receive a monthly payment
of $10,000 and reimbursement of up to $40,000 for post-petition
advances for, among other things, insurance and taxes.

The Debtor owns a residential development property in Mt. Kisco,
New York, consisting of 21 acres with a residential home, currently
leased to Brad Zackson, the Debtor's manager, for $16,000 per
month.

U.S. Bank asserts a first mortgage lien and security interest in
the property
to secure a loan in the principal sum of $2.345 million.

                 About BB 23 Hollow Ridge

BB 23 Hollow Ridge LLC owns a certain residential development
property located at 23 Hollow Ridge Road, Mt. Kisco, New York
consisting of approximately 21 acres, improved by one residential
home with the possibility of building additional homes.

BB 23 Hollow Ridge filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
24-22310) on April 9, 2024, listing up to $10 million in both
assets and liabilities. The petition was signed by Brad Zackson,
manager.

Judge Sean H. Lane oversees the case.

Goldberg Weprin Finkel Goldstein, LLP represents the Debtor as
counsel.

U.S. Bank Trust National Association, as lender, is represented
by:

    Kevin Toole, Esq.
    Robertson, Anschutz, Schneid, Crane & Partners, PLLC
    900 Merchants Concourse, Suite 310
    Westbury, NY 11590
    Phone: (516) 280-7675
    Fax: (516) 280-7674


BEACH ACQUISITION: Fitch Rates New $2.5BB Unsecured PIK Notes 'B-'
------------------------------------------------------------------
Fitch Ratings has assigned Beach Acquisition Bidco, LLC's (dba
Skechers) proposed $2.5 billion in unsecured PIK Notes a 'B-' with
a Recovery Rating of 'RR6'. The Rating Outlook is Stable. Proceeds
from the notes, along with the proposed $2.115 billion secured term
loan and $1.75 billion secured notes, both rated 'BB-'/'RR3' and,
$4.54 billion in equity, will be used to fund 3G Capital's buyout
of Skechers. The buyout transaction is expected to close in 3Q25.

Skechers' rating reflects its leading position in the footwear
industry, with approximately $9.0 billion in revenue, good cash
flow, and a strong growth history. The rating considers the
company's single brand concentration and narrow product focus.
Fitch expects Skechers' EBITDAR leverage to moderate to the high-4x
range from about 5.3x at transaction close over the next 18-24
months, driven by EBITDA expansion and debt repayment.

Key Rating Drivers

3G LBO: In May 2025, 3G Capital announced an $10.4 billion buyout
of Skechers, net of balance sheet cash. The deal represents an
approximate 8.6x multiple on Skechers' LTM EBITDA of $1.2 billion
as of March 2025. 3G plans to finance the transaction and fees with
$4.54 billion (40%) in equity and $6.37 billion in debt. Skechers
also plans to replace its existing $750 million revolver with a new
five-year $1.584 billion senior secured RCF. Pro forma for the
transaction close, Skechers' EBITDAR leverage will be approximately
5.3x.

Fitch does not expect the new owner to meaningfully change
Skechers' existing strategy, including its focus on international
growth and continued direct-to-consumer (DTC) expansion. The
founder, and CEO, Robert Greenberg, along with other key
executives, will remain on the leadership team post transaction
close. This continuity is positive, but there is key man risk.
Although the company could realize some cost savings, Fitch's
forecast does not assume material margin expansion from new
initiatives given expectations for continued growth investments and
ongoing cost inflation pressures.

Leading Player; Strong Growth History: Skechers has seen rapid
growth since its inception in 1992. Fitch expects the company to
continue to maintain or grow its market share. Skechers ranks third
within the global footwear market, with LTM 1Q25 revenue and EBITDA
of $9.1 billion and $1.2 billion, respectively. This compares to
Nike's footwear sales of $34 billion and Adidas' footwear sales of
$14 billion. The company's 16% CAGR since 2012 exceeds the footwear
industry average, with growth every year except pandemic-affected
2020.

Over time, Skechers has expanded beyond its core sneaker category
into sandals, streetwear, and no-hands slip-ins. Recent growth
initiatives have focused on expanding Skechers' DTC and
international footprint, with close to two-thirds of its sales
outside the U.S. The company's branding emphasis on comfort and
value helps it avoid direct comparisons to athletic footwear peers
that focus more on style and sports performance.

Limited Diversification: Skechers' credit profile is somewhat
constrained by its brand concentration and narrow focus on
footwear. Fitch expects the footwear sector to grow about 3%-5%
annually, but individual brands are exposed to changing fashion
trends and brand popularity. These factors are somewhat mitigated
by Skechers' diversified geographic exposure. In addition, Skechers
benefits from its diversified channel exposure, selling through
both wholesale (57% of 2024 revenue) and DTC (43% of 2024 revenue),
with the revenue roughly split between 50%women, 10% kids, and 40%
men.

Stable to Growing Market Share: Fitch expects Skechers' revenue to
grow at a mid-single-digit rate in 2025 and around 3% thereafter.
This compares to a low-double digit average from 2012-2024. The
moderation reflects some brand maturation and potential cyclicality
in the footwear market. While the footwear sector is expected to
grow in the mid-single digits long term, individual brands are
exposed to cyclicality from changing fashion trends and brand
popularity due to fickle consumer behavior.

Near-Term Volatility: Fitch expects the U.S. retail sector to face
near-term challenges, including declines in consumer sentiment,
business disruption, and rising costs related to evolving U.S.
tariff policies. Skechers sources most of its products from China
and Vietnam, and thus sustained higher tariffs would impact the
company's cost structure. The company's diversified geographic
presence, identified cost savings, strong liquidity, and lack of
debt maturities before2030 following this transaction mitigate this
risk.

Good Liquidity and FCF: Skechers' liquidity is supported by its
strong cash position, projected strong FCF, and access to a
proposed and undrawn $1.584 billion revolver. Fitch expects the
company to generate FCF in the high $200million to low $300 million
range beginning in 2026. Fitch expects the company could deploy
annual FCF to debt repayment given their commitment to deleveraging
following the go-private transaction. The company is targeting a
3xnet EBITDAR leverage using the balance sheet liability.

High Leverage but with Deleveraging Capacity: Historically,
Skechers operated with limited debt, consisting of real estate
loans, of which approximately $416 million was outstanding as of
March 31, 2025. Pro forma for the transaction close, EBITDAR
leverage will increase to 5.3x from 1.2x in 2024. The company has
proposed a prepayable $2.1 billion term loan B and indicated that
it intends to use FCF proceeds to de-lever. Given debt repayment
and modest EBITDA expansion, Fitch expects EBITDAR leverage to
decline towards the high-4x range by 2027.

Parent Subsidiary Linkage: Fitch's analysis includes a weak
parent/strong subsidiary approach between the parent and its
subsidiary, Beach Acquisition BidCo, LLC. Fitch assesses the
quality of the overall linkage as high, which results in an
equalization of IDRs across the corporate structure.

Peer Analysis

Skechers' rated peers within the non-food retail sector include
Wayfair (B/Stable), Capri Holdings Limited (BB/Negative), Samsonite
Group S.A. (BB+/Stable), and Levi Strauss & Co. (BBB-/Stable).

Wayfair's rating reflects its position as a leading online retailer
of furniture and home furnishings, and its recent efforts to
structurally improve profitability following a long history of
focusing primarily on growth. Wayfair's rating is one notch lower
than Skechers', reflecting Fitch's expectations that EBITDAR
leverage could trend relatively higher, in the mid-5x range,
beginning in 2026.

Capri's rating is two notches higher than Skechers, reflecting
Fitch's expectations that EBITDAR leverage will trend below 3.0x,
beginning in 2025.

Levi's rating considers the company's good execution from a topline
and a margin standpoint, which supports Fitch's long-term
expectations of low-single-digit revenue and EBITDA growth. The
rating reflects Fitch's expectations that EBITDAR leverage will
trend below 2.0x.

Samsonite's rating considers the company's status as the world's
largest travel luggage company, with strong brands and historically
good organic growth. Samsonite's rating reflects Fitch's
expectations that EBITDAR leverage will trend in the mid-2x range
over the medium term.

Key Assumptions

- Fitch projects Skechers' 2025 revenue to expand in the mid-single
digit range, aided by Skechers' medium-term growth initiatives to
expand its DTC and international footprint. Fitch expects revenue
growth could moderate modestly thereafter, given the maturity of
the brand and potential for cyclicality in the footwear industry.

- EBITDA margins could contract modestly in 2025 as topline growth
rates moderate, and the company experiences cost deleverage.
Thereafter, Fitch expects EBITDA to expand modestly, in-line with
topline growth. The company expects to eliminate around $250
million in costs as identified by a third-party consulting firm,
although Fitch expects these could be reinvested into topline
initiatives.

- FCF could moderate towards $125 million in 2025 from $230 million
in 2024, driven by increased cash interest post the buyout and
outsized capex of $650 million in 2025 for a new distribution
center. Beginning in 2026, FCF could trend in the high-$200 million
to low-$300 million range, aided by EBITDA expansion and capex
spend moderating to$400 million in 2026 and $250 million
thereafter. Fitch expects the company to use FCF for debt
repayment, in line with the company's stated commitment toward
deleveraging.

- EBITDAR leverage to increase from 1.2x in 2024 to 5.3x in 2025,
given the incurrence of debt post the buyout. EBITDAR leverage
could moderate towards the high-4x range by 2027, driven by debt
repayment and EBITDA expansion.

- Interest rate assumptions: The proposed term loan will have a
variable rate structure, using SOFR as the floating rate component.
Fitch's SOFR assumptions range from 4.5%-3.5% over the forecast
period. For Skechers' PIK notes, Fitch assumes the company uses the
PIK option for the first 2 years post close before reverting to
cash pay.

Recovery Analysis

For issuers with IDRs of 'B+' and below, Fitch performs a recovery
analysis for each class of obligations of the issuer. The issue
ratings are derived from the IDR and the relevant Recovery Rating
(RR) and notching, based on Fitch's recovery analysis. Fitch's
recovery analysis assumes that Skechers is maximized as a going
concern in a post default scenario, given a going-concern valuation
of $4.4 billion compared with around $2.9 billion in value from a
liquidation of assets.

Fitch's going concern value is derived from a projected EBITDA of
$800 million. The scenario incorporates revenue of approximately
$7.2 billion, around 20% below revenue for the LTM period ended
March 31, 2025. EBITDA margins could trend around 11% in a recovery
scenario, below Fitch's 13% forecast given some fixed-cost
deleveraging.

A going concern multiple of 5.5x was selected, in line with the
4x-6x range observed for North American retailers.

Fitch deducted 10% for administrative claims and assumed full
recovery for the $416 million in real estate debt, which is secured
by specific real estate assets, leaving approximately $3.5 billion
in EV for the remaining debt structure. This yields good recovery
prospects for the proposed first lien debt, resulting in a
'BB-'/'RR3' rating on the secured instruments. The unsecured PIK
notes have poor recovery prospects and are rated 'B- '/'RR6'.

RATING SENSITIVITIES

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

- A downgrade to 'B' could result from a worse-than-expected
top-line growth and declining EBITDA margins, such that EBITDAR
leverage is sustained above 5.0x and EBITDAR fixed charge coverage
is sustained below 1.5x;

- A downgrade could also result from slower-than-anticipated debt
repayment that results in EBITDAR leverage sustained above 5.0x.

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

- An upgrade of Skechers' ratings to 'BB-' could result from
better-than-expected performance with annual organic top-line
growth in the mid-single digits, reflecting stable to improving
market share, and EBITDA growth in the mid-to-high single digit
range, such that EBITDAR leverage is sustained under 4.5x and
EBITDAR fixed charge coverage is sustained above 2.0x;

- An upgrade could also result from higher-than-anticipated debt
repayment that results in EBITDAR leverage sustained under 4.5x.

Liquidity and Debt Structure

As of March 31, 2025, Skechers had $993 million in cash and $108
million in short-term investments. The company's liquidity is
further supported by unused credit capacity on its RCF, which was
$615 million as of March 31, 2025.

The company plans to finance its take-private transaction with
$4.54 billion in equity from 3G and new debt, including a $2.115
billion secured term loan, $1.75 billion in secured notes and $2.5
billion in unsecured PIK notes. On a pro forma basis, these debt
instruments will comprise Skechers' capital structure in addition
to a new $1.584 billion secured cash flow revolver (undrawn and
close) and $416 million of existing construction loans.

The senior secured debt and unsecured PIK notes will be issued by
Beach Acquisition Bidco, LLC. The senior secured debt has a first
priority lien on essentially all assets of the company other than
certain distribution facilities pledged to the construction loans.

Issuer Profile

Skechers U.S.A., Inc., (pro forma for the transaction, Beach
Acquisition Co Parent LLC) is the third-largest athletic footwear
company in the world, with 2024 revenue of $9 billion and EBITDA of
$1.2 billion.

Summary of Financial Adjustments

Historical and projected EBITDA is adjusted to add back non-cash
stock-based compensation and exclude non-recurring charges. Fitch
uses the balance sheet reported lease liability as the capitalized
lease value when computing lease-equivalent debt.

Date of Relevant Committee

16 June 2025

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

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

ESG Considerations

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

   Entity/Debt             Rating           Recovery   
   -----------             ------           --------   
Beach Acquisition
Bidco, LLC

   senior unsecured     LT B-  New Rating     RR6


BEACON POINTE: Cliffwater Corporate Marks $10MM Loan at 78% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$10,005,438 loan extended to Beacon Pointe Harmony LLC to market at
$2,158,265 or 22% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Beacon Pointe
Harmony LLC The loan accrues interest at a rate of 9.04% per annum.
The loan matures on December 29, 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 Beacon Pointe Harmony LLC

Beacon Pointe Harmony LLC is an independent advisory firm dedicated
to providing clients with objective, thoughtful investment and
financial guidance.


BEDMAR LLC: US Trustee Challenges Good Faith of Chapter 11 Filing
-----------------------------------------------------------------
Vince Sullivan of Law360 Bankruptcy Authority reports that on
Monday, June 30, 2025, the federal bankruptcy watchdog sought to
dismiss the Chapter 11 case of the property-lease holding arm of
pharmaceutical company National Resilience HoldCo Inc., Bedmar LLC,
claiming in Delaware court filings that the case was filed in bad
faith.

                   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.


BEL TEMPO: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Bel Tempo, LLC
        3661 North Campbell Avenue
        Tucson, AZ 85719

Business Description: Bel Tempo, LLC is a real estate holding
                      company whose principal asset is a
                      commercial property located at 5701 South
                      12th Avenue in Tucson, Arizona.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       District of Arizona

Case No.: 25-06002

Debtor's Counsel: John C. Smith, Esq.
                  RUSING, LOPEZ & LIZARDI, PLLC
                  6363 North Swan Road
                  Suite 151
                  Tucson, AZ 85718
                  Tel: (520) 792-4800
                  E-mail: jsmith@rllaz.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael Morgan as manager.

The Debtor failed to attach a list of its 20 largest unsecured
creditors to the petition.

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

https://www.pacermonitor.com/view/PMQQ4VY/Bel_Tempo__azbke-25-06002__0001.0.pdf?mcid=tGE4TAMA


BELMONT BUYER: Cliffwater Corporate Marks $632,000 Loan at 68% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $632,267
loan extended to Belmont Buyer, Inc. to market at $204,433 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 Revolver Loan to Belmont Buyer, Inc.
The loan accrues interest at a rate of 10.95% 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 Belmont Buyer, Inc.

Belmont Buyer, Inc. is a Delaware domestic corporation engaged in
providing financial solutions and services.  


BISHOP OF SAN DIEGO: Betti & Associates Represents Abuse Claimants
------------------------------------------------------------------
The law firm of the Law Offices of Betti & Associates 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.

Betti & Associates has offices at 30 Wall Street, 8th Floor, New
York, New York 10005 and 1732 Knoll Field Way, Encinitas,
California 92024. Attorneys Michele M. Betti, Esq., among others at
Betti & Associates, are duly licensed to practice before Courts of
the State of California and the United States District Court for
the Southern District of California.

Betti & Associates individually represents each Sexual Abuse
Claimant ("Claimant") listed in Exhibit A attached to this
disclosure. 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, Betti & Associates was
individually retained by each Claimant listed in Exhibit A to
pursue claims for damages against The Roman Catholic Diocese 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, The Roman Catholic Diocese of San Diego, California, 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:

     BETTI & ASSOCIATES
     Michele M. Betti, Esq.
     30 Wall Street, 8th Floor
     New York, NY 10005
     Telephone: (760) 500-5451
     Email: mbettilaw@gmail.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 SAN DIEGO: DeMarco Represents Sexual Abuse Claimants
--------------------------------------------------------------
The law firm of DeMarco Law Firm 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.

DeMarco Law Firm has an office at 133 West Lemon Ave., Monrovia,
California, 91016. Attorneys Anthony M. DeMarco, among others at
DeMarco Law Firm, are duly licensed to practice before Courts of
the State of California and the United States District Court for
the Southern District of California.

DeMarco Law Firm individually represents each Sexual Abuse Claimant
("Claimant") listed in Exhibit A attached to this disclosure. 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, DeMarco Law Firm was
individually retained by each Claimant to pursue claims for damages
against The Roman Catholic Diocese 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, The Roman Catholic Diocese of San Diego, California, 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:

     DEMARCO LAW FIRM
     Anthony M. DeMarco, Esq.
     Joanna Robles, Esq.
     133 W. Lemon Avenue
     Monrovia, California 91016
     Tel: 626-844-7700
     E-mail: anthony@demarcolawfirm.com
             joanna@demarcolawfirm.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 SAN DIEGO: Herman Law Represents Sexual Abuse Claimants
-----------------------------------------------------------------
The law firm of Herman Law Firm, P.A., 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.

Herman Law has offices at 1800 North Military Trail, Suite 140,
Boca Raton, Florida, 33431; at 24151 Ventura Boulevard, Suite 230,
Calabasas, California, 91302; and at various other locations
nationwide. Attorney Blake Woodhall is duly licensed to practice
before all of the courts of the State of California.

Herman Law individually represents each Sexual Abuse Claimant
("Claimant") listed in Exhibit "A" attached to this Disclosure. Due
to confidentiality, each Claimant listed in Exhibit "A" has been
identified by their Sexual Abuse Proof of Claim Form number and
initials. 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, Herman Law was individually
retained by each Claimant to pursue claims for damages against The
Roman Catholic Bishop of San Diego 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, The Roman Catholic Bishop of San Diego, 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:

     Blake Woodhall, Esq.
     HERMAN LAW
     9434 Deschutes Road, Suite 1000
     Palo Cedro, CA 96073-1000
     Telephone: (305) 931-2200

         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 SAN DIEGO: Liakos Law Advises Sexual Abuse Claimants
--------------------------------------------------------------
The law firm of Liakos Law, APC 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.

Liakos Law has an office at 916 Silver Spur Road, Suite 202,
Rolling Hills Estates, CA 90275. Attorney Jennifer Liakos is duly
licensed to practice before Courts of the State of California and
the District Court for the Southern District of California.

Liakos Law represents each Sexual Abuse Claimant ("Claimant")
listed in Exhibit A attached to this disclosure. Certain Claimants
are jointly represented by Liakos Law and Bond Legal. 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, Liakos Law was retained,
along with its cocounsel Bond Legal and Fidelity Legal in some
cases, by each Claimant listed in Exhibit A to pursue claims for
damages against The Roman Catholic Diocese of San Diego, California
as a result of sexual abuse. This includes representing and acting
on behalf of each Claimant in the bankruptcy case.

Liakos Law's interest relative to each Claimant is outlined in each
retainer agreement executed by the Claimant and is set forth in the
exemplar retainer agreements. The exemplar retainer agreements
attached to Exhibit A represent the current and operative
agreements between Liakos Law and each of the Claimants.

Each Claimant maintains an individual economic interest against the
Debtor, The Roman Catholic Diocese of San Diego, California, 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:

     LIAKOS LAW, APC
     Jennifer R. Liakos, Esq.
     955 Deep Valley Drive, Suite 3900
     Palos Verdes Peninsula, CA 90274
     Tel: (310) 961-0066
     Email: jenn@liakoslawapc.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 SAN DIEGO: Matthews & Associates Advises Abuse Claimants
------------------------------------------------------------------
The law firm of Matthews & Associates (hereinafter "M&A") 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.

M&A has offices at 2905 Sacket St., Houston, TX 77098. Attorney
Pedro "Peter" de la Cerda is duly licensed to practice before the
Courts of the State of California.

M&A individually represents each Sexual Abuse Claimant that has
filed a Proof of Claim under the following Claim Numbers: ESC-18,
ESC-19, ESC-20, ESC-21, ESC-22, ESC23, ESC-24, ESC-25, ESC-26,
ESC-27, and ESC-28. Due to confidentiality, each Claimant listed
has been identified by their Sexual Abuse Proof of Claim Form
number instead of their true name. 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, M&A was individually
retained by each Claimant to pursue claims for damages against The
Roman Catholic Diocese of San Diego, California as a result of
sexual abuse. An exemplar copy of the form of the retainer
agreement authorizing M&A to act on behalf of each Claimant and
providing for the payment of M&A's fees and costs has been filed
with this statement.

M&A's interest relative to each Claimant is outlined in each
retainer agreement executed by the Claimant and is set forth in the
exemplar retainer agreement.

Each Claimant maintains an individual economic interest against the
Debtor, The Roman Catholic Diocese of San Diego, California, 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:

     MATTHEWS & ASSOCIATES
     Pedro “Peter” de la Cerda, Esq.
     2905 Sackett St.
     Houston, TX 77098
     P: 972-525-5523
     E: pdelacerda@thematthewslawfirm.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 SAN DIEGO: Paul Mones Represents Sexual Abuse Claimants
-----------------------------------------------------------------
The law firm of Paul Mones, P.C. 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.

Paul Mones, P.C. has an office located at 13101 Washington Blvd.,
Suite 128, Los Angeles, CA 90066. Attorneys Paul Mones and Courtney
Kiehl, at Paul Mones, P.C., are duly licensed to practice before
Courts of the State of California.

Paul Mones, P.C. individually represents each Sexual Abuse Claimant
("Claimant") listed in Exhibit A attached to this disclosure. 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, Paul Mones, P.C. was
individually retained by each Claimant listed in Exhibit A to
pursue claims for damages against The Roman Catholic Diocese of San
Diego, California as a result of sexual abuse. This includes
representing and acting on behalf of each Claimant in the
bankruptcy case. An exemplar copy of the retainer agreement
authorizing Paul Mones, P.C. to act on behalf of each Claimant and
providing for the payment of Paul Mones, P.C.'s fees and costs has
been filed with this statement.

Each Claimant maintains an individual economic interest against the
Debtor, The Roman Catholic Diocese of San Diego, California, 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:

     PAUL MONES, P.C.
     Paul Mones, Esq.
     Courtney Kiehl, Esq.
     13101 Washington Blvd., Suite 128
     Los Angeles, CA 90066
     Telephone: (310) 566-7418
     Email: paul@paulmones.com
            courtney@paulmones.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.


BLUE DUCK: Gets Interim OK to Use Cash Collateral Until July 13
---------------------------------------------------------------
Blue Duck Energy MVR, LLC got the green light from the U.S.
Bankruptcy Court for the Northern District of Texas, Amarillo
Division, to use cash collateral.

The court's order authorized the Debtor's interim use of cash
collateral for post-petition expenses listed in its budget, with a
10% line-item variance.

Unless extended further with the written consent of secured
creditor MBP Roberts County, LLC, the Debtor's authority to access
cash collateral will end on (i) July 13; or upon occurrence of
so-called termination events, including the Debtor's failure to
comply with the terms of the interim order.

All liens and priority claims of MBP approved by the interim order
will survive even after a termination event and will be binding
upon any successor-in-interest to the Debtor.

To the extent the protections granted to MBP by the interim order
do not provide it with adequate protection of its interest in the
cash Collateral, then the secured creditor will be granted a
superpriority administrative expense claim, subject only to
professional fee carveouts.

A final hearing will be held on July 9.

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

MBP asserts a first-priority lien on the Debtor's assets and
proceeds, though the Debtor disputes whether the secured creditor
has a perfected interest in its bank accounts, given the absence of
a deposit account control agreement. As of June 2, the Debtor held
$483,242 in cash, which had increased to $628,496.

As of the petition date, MBP alleges that the amounts due and owed
by the Debtor is
$1,615,895.51, which includes the principal amount of
$1,362,760.18.

                    About Blue Duck Energy MVR

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

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

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

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

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


BORDDEAUX VENTURES: Case Summary & Three Unsecured Creditors
------------------------------------------------------------
Debtor: Bordeaux Ventures, LLC
        2616 Carter Avenue
        Nashville, TN 37206-1346

Business Description: Bordeaux Ventures, LLC is a single-asset
                      real estate debtor under 11 U.S.C. Section
                      101(51B).  Its principal asset is located at
                      1501 E Stewarts Lane in Nashville,
                      Tennessee.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Middle District of Tennessee

Case No.: 25-02702

Judge: Hon. Nancy B King

Debtor's Counsel: Denis Graham "Gray" Waldron, Esq.
                  DUNHAM HILDEBRAND PAYNE WALDRON, PLLC
                  9020 Overlook Blvd., Suite 316
                  Brentwood, TN 37027
                  Tel: 629-777-6519
                  Fax: 615-777-3765
                  E-mail: gray@dhnashville.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Michael Mattthews as authorized
representative.

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

https://www.pacermonitor.com/view/OQUIIXQ/Bordeaux_Ventures_LLC__tnmbke-25-02702__0001.0.pdf?mcid=tGE4TAMA


BORDEAUX VENTURES: Section 341(a) Meeting of Creditors on July 31
-----------------------------------------------------------------
On June 30, 2025, Bordeaux Ventures LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Middle District of
Tennessee. According to court filing, the Debtor reports between
$10 million and $50 million in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

A meeting of creditors under Section 341(a) to be held on July 31,
2025 at 01:00 PM via Meeting held telephonically. Please call
888-330-1716 and enter code 3884044# to attend.

           About Bordeaux Ventures LLC

Bordeaux Ventures LLC is a Nashville-based single asset real estate
company that owns and manages a property located at 1501 E Stewarts
Lane in Nashville, Tennessee.

Bordeaux Ventures LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-02702) on June 30,
2025. In its petition, the Debtor reports estimated assets less
than $50,000 and estimated liabilities between $10 million and $50
million.

Honorable Bankruptcy Judge Nancy B. King handles the case.

The Debtors are represented by Denis Graham (Gray) Waldron, Esq. at
Dunham Hildebrand Payne Waldron, PLLC.


BULLER MEDIA: Neema Varghese Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 11 appointed Neema Varghese of NV
Consulting Services as Subchapter V trustee for Buller Media
Corporation.

Ms. Varghese will be paid an hourly fee of $400 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Neema T. Varghese
     NV Consulting Services
     701 Potomac, Ste. 100
     Naperville, IL 60565
     Tel: (630) 697-4402
     Email: nvarghese@nvconsultingservices.com

                   About Buller Media Corporation

Buller Media Corporation filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
25-09018) on June 13, 2025, with up to $50,000 in assets and
between $100,001 and $500,000 in liabilities. Steven E. Buller,
president of Buller Media, signed the petition.

Judge Timothy A. Barnes presides over the case.

Joel A. Schechter, Esq. at the Law Office of Joel A. Schechter
represents the Debtor as bankruptcy counsel.


CARNIVAL PLC: S&P Rates New EUR1BB Senior Unsecured Notes 'BB+'
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' issue-level rating and '3'
recovery rating to Carnival PLC's proposed EUR1 billion senior
unsecured notes due 2031. The notes will be guaranteed by Carnival
Corp. and certain subsidiaries. The '3' recovery rating indicates
its expectation for meaningful (50%-70%; rounded estimate: 65%)
recovery for noteholders in the event of a payment default.

Carnival intends to use the net proceeds from these notes to repay
a portion of its secured term loan facilities due 2027 and 2028.
The company recently used cash on hand to repay $450 million of
borrowings under its 2027 term loan facility.

The proposed transaction combined with recent term loan debt
repayment modestly reduce the company's overall debt and the
quantum of secured debt in the capital structure. The proposed
notes issuance will also improve the company's maturity profile.
The proposed notes issuance, debt repayment, along with other
refinancing transactions completed earlier in 2025, will reduce
Carnival's interest expense, and improve fund from operations (FFO)
to debt. However, we anticipate Carnival's S&P Global
Ratings-adjusted FFO to debt will remain below S&P's 25% upgrade
threshold over the next 12 months. As a result, the transaction
does not affect its 'BB+' issuer credit rating or stable outlook.

Issue Ratings--Recovery Analysis

Key analytical factors

-- S&P said, "We assigned our 'BB+' issue-level rating and '3'
recovery rating to Carnival's proposed EUR1 billion senior
unsecured notes due 2031. The '3' recovery rating indicates our
expectation for meaningful (50%-70%; rounded estimate: 65%)
recovery for noteholders."

-- S&P said, "Our 'BBB-' issue-level rating and '1' recovery
rating on Carnival's first-lien secured debt are unchanged. The '1'
recovery rating indicates our expectation for very high (90%-100%;
rounded estimate: 95%) recovery. We cap our issue-level ratings on
the debt of most companies we rate in the speculative-grade
category at 'BBB-' regardless of our recovery rating."

-- S&P said, "Our 'BB+' issue-level rating and '3' recovery rating
on Carnival's other unsecured debt with subsidiary guarantees are
unchanged. The '3' recovery rating indicates our expectation for
meaningful (50%-70%; rounded estimate: 65%) recovery."

-- S&P said, "Our 'BB+' issue-level rating and '4' recovery rating
on Carnival's unsecured debt without subsidiary guarantees are
unchanged. The '4' recovery rating indicates our expectation for
average (30%-50%; rounded estimate: 45%) recovery."

Simulated default assumptions

-- S&P's simulated default scenario considers a default occurring
in 2030 due to a significant decline in cash flow stemming from a
prolonged economic downturn, a significant health or safety event,
escalating geopolitical conflicts, or increased competitive
pressures that substantially reduce the demand for cruising.

-- S&P estimates a gross enterprise value (EV) at emergence of
about $24.7 billion by applying a 7x multiple to our estimate of
the company's EBITDA at emergence. This multiple is at the high end
of our range for leisure companies to reflect Carnival's good
position in the cruise industry, which is a small but
underpenetrated segment of the overall travel and vacation
industry.

-- S&P allocates its estimate of gross EV at emergence among the
secured and unsecured claims based on its understanding of the
contributions, by asset value, from parents Carnival Corp. and
Carnival PLC, Carnival Holdings (Bermuda) II Ltd. (the revolver
borrower), and the subsidiary guarantors.

-- S&P assumes about 53% of our estimated gross EV at emergence is
available to cover the first-priority secured claims, about 30% is
at remaining unencumbered vessels and available to cover the
unsecured claims that benefit from subsidiary guarantees, and about
18% is at remaining unencumbered vessels and available to cover the
unsecured claims that benefit from parent guarantees.

-- S&P said, "Under our analysis, about $12.1 billion of the net
EV would be available to cover secured claims. After satisfying the
first-priority secured claims, the remaining value we estimate at
about $8.1 billion would be allocated among the claims that benefit
from subsidiary guarantees and those that benefit only from parent
guarantees. We understand substantial collateral sits at the
subsidiary guarantors."

-- S&P said, "We estimate that about $11.4 billion of the EV at
default will be directly available to the unsecured debt benefiting
from subsidiary guarantees. This includes $4.6 billion of residual
collateral value, after satisfying various secured claims, and an
additional $6.8 billion (our estimated value of the remaining
unencumbered vessels at subsidiaries). The $11.4 billion of total
value only partially covers our estimate of the unsecured debt with
subsidiary guarantees at default. We assume these deficiency claims
rank pari passu with the unsecured debt that only benefit from
parent guarantees."

-- S&P estimates about $7.5 billion of EV at default will be
available to the unsecured debt that has only parent guarantees.
This includes about $3.5 billion of residual collateral value,
after satisfying various secured claims, and an additional $4.1
billion that reflects the value of the remaining unencumbered
vessels held at the parent. The total value of $7.5 billion only
partially covers our estimate of those unsecured claims and pari
passu deficiency claims at default.

-- Carnival recently entered into a new $4.5 billion revolving
credit facility due June 2030 that replaces its prior $3 billion
revolving credit facility issued by Carnival Holdings II. S&P
assumes the facility is 85% drawn at default.

Simplified waterfall

-- Emergence EBITDA: $3.5 billion

-- EBITDA multiple: 7x

-- Gross EV: $24.8 billion

-- Net EV (after 7% administrative expenses): $23.0 billion

-- Value attributable to collateral/non-collateral: $12.1
billion/$10.9 billion

-- Value available to first-lien secured claims: $12.1 billion

-- Estimated first-lien secured claims at default: $4.1 billion

    --Recovery expectations: 90%-100% (rounded estimate: 95%)

-- Residual value available from collateral after satisfying
first-lien secured claims: $8.1 billion

-- Residual value available from collateral for unsecured claims
that benefit from subsidiary guarantees (export credit facilities,
the 2027, 2029, 2030, 2031 and 2033 notes, the 2027 convertible
notes, bilateral bank facilities, and the new revolver): $4.6
billion

-- Residual value available from collateral for unsecured debt
that benefits from parent guarantees: $3.5 billion

-- Value available to unsecured claims that benefit from
subsidiary guarantees: $11.4 billion

-- Pro rata share of parent value: $7.1 billion

-- Total value available to unsecured claims that benefit from
subsidiary guarantees: $18.6 billion

-- Estimated unsecured claims that benefit from subsidiary
guarantees at default: $27.0 billion

--Recovery expectations: 50%-70% (rounded estimate: 65%)

-- Value available to unsecured debt with only parent guarantees:
About $408 million

-- Unsecured claims with only parent guarantees at default: $892
million

    --Recovery expectations: 30%-50% (rounded estimate: 45%)

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



CARR RIGGS: Cliffwater Corporate Marks $3.4MM Loan at 40% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,491,358
loan extended to Carr, Riggs and Ingram Capital, L.L.C. to market
at $2,094,238 or 60% 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 Carr, Riggs and Ingram
Capital, L.L.C. The loan accrues interest at a rate of 9.07% per
annum. The loan matures on November 18, 2031.

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

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

The Fund can be reach through:

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

          About Carr, Riggs and Ingram Capital, L.L.C.

Carr, Riggs & Ingram is one of the leading nationally-ranked
accounting and advisory firms driven by relationships to cultivate
growth.


CARR RIGGS: Cliffwater Corporate Marks $7.6MM Loan at 84% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $7,637,345
loan extended to Carr, Riggs and Ingram Capital, L.L.C. to market
at $1,194,799 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 Delayed Draw Loan to Carr, Riggs and
Ingram Capital, L.L.C. The loan accrues interest at a rate of
19.04% per annum. The loan matures on November 18, 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 Carr, Riggs and Ingram Capital, L.L.C.

Carr, Riggs & Ingram is one of the leading nationally-ranked
accounting and advisory firms driven by relationships to cultivate
growth.


CASEY COTTON: 5th Circuit Tosses Champertous Claim
--------------------------------------------------
In the appeal styled as Caleb Crabtree; Adriane Crabtree, as
assignees of the claims of Casey Cotton, Plaintiffs-Appellants,
versus Allstate Property and Casualty Insurance Company; John Does
1-5, Defendants-Appellees, No. 23-60537 (5th Cir.), Judges Jerry E.
Smith, Jacques L. Wiener, Jr. and Dana M. Douglas of the United
States Court of Appeals for the Fifth Circuit affirmed the
dismissal by the United States District Court for the Southern
District of Mississippi of the lawsuit filed by Caleb and Adriane
Crabtree, who acquired Casey Cotton's bad-faith claim, against
Allstate for lack of subject matter jurisdiction.

This appeal turns on whether Mississippi's champerty statute, Miss.
Code Ann. Sec. 97-9-11 (Rev. 2013), voids an assignment of a cause
of action to a disinterested third party.

Casey Cotton rear-ended Caleb Crabtree, causing Crabtree extensive
injuries. Cotton was insured by Allstate, but Crabtree's injuries
exceeded Cotton's policy limit, meaning that Cotton risked
liability for the excess should he be found at fault. Allegedly,
Allstate refused to settle with Crabtree and did not inform Cotton
of those settlement negotiations or of Cotton's potential personal
liability. Those failures gave Cotton a potential claim for bad
faith against Allstate.

Crabtree and his wife sued Cotton, who declared bankruptcy. The
bankruptcy court allowed the personal-injury action to proceed to
trial, and the Crabtrees were awarded over $4 million. That made
the Crabtrees judgment creditors in the bankruptcy proceeding.
Cotton's bad-faith claim against Allstate was classified as an
asset of the bankruptcy estate. To facilitate a settlement between
the Crabtrees and Cotton concerning the personal-injury judgment,
the bankruptcy court allowed the Crabtrees to purchase Cotton's
bad-faith claim for $10,000.

The Crabtrees, however, could not afford the $10,000 upfront, so
they engaged Court Properties, Inc., to assist with financing.
Court Properties paid the bankruptcy trustee $10,000 to acquire the
bad-faith claim, then assigned that claim to the Crabtrees in
exchange for $10,000 plus interest at 8% with repayment contingent
on successful recovery from Allstate. The Crabtrees sued Allstate
in the action now on appeal, asserting Cotton's bad-faith claim.

The district court dismissed that action for lack of subject matter
jurisdiction. It held that the assignment of Cotton's claim to
Court Properties and Court Properties' assignment to the Crabtrees
were champertous and hence void under Sec. 97-9-11. Thus, it found
that the Crabtrees lacked Article III standing because, absent
Cotton's bad-faith claims, the Crabtrees had not suffered any
injury at Allstate's hands.

The Circuit Judges certified the dispositive question of state law
to the Supreme Court of Mississippi:

Does Miss. Code Ann. Sec. 97-9-11 (Rev. 2013) allow a creditor in
bankruptcy to engage a disinterested third party to purchase a
cause of action from a debtor?

In answer to the certified question, the Supreme Court of
Mississippi held that state law prohibits a disinterested third
party engaged by a bankruptcy creditor from purchasing a cause of
action from a debtor's estate. That means that the assignment of
Cotton's claim by the bankruptcy trustee to Court Properties was
champertous and void under Mississippi law.

Therefore, the Circuit Judges hold, "Because Court Properties never
acquired Cotton's claim, it could not have assigned it to the
Crabtrees. Accordingly, the Crabtrees do not possess Cotton's
bad-faith claim against Allstate, so they lack standing to sue in
federal court. The judgment of the district court is affirmed."

A copy of the Court's Opinion dated June 12, 2025, is available at
https://urlcurt.com/u?l=OUhVRw from PacerMonitor.com.

Casey James Cotton filed a Chapter 7 bankruptcy petition (Bankr.
S.D. Miss. Case No. 21-50399) on March 31, 2021.


CB THEATER: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Lead Debtor: CB Theater Experience LLC
               f/k/a Cobb Theater Experience
               f/k/a Cinemex NC, LLC
             4300 Biscayne Blvd, Suite 203
             Miami, FL 33137

Business Description: CB Theater Experience LLC operates movie
                      theaters under the CMX Cinemas brand across
                      various locations in the United States.  The
                      Company is based in Miami, Florida, and is
                      involved in the exhibition of motion
                      pictures and related services.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Southern District of Florida

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

    Debtor                                 Case No.
    ------                                 --------
    CB Theater Experience LLC              25-17563
    Cinemex Holdings USA, Inc.             25-17559
    CMX Cinemas, LLC                       25-17561

Judge: Hon. Laurel M Isicoff

Debtors'
Bankruptcy
Counsel:             Jeffrey P. Bast, Esq.
                     BAST AMRON LLP
                     One Southeast Third Avenue
                     Suite 2410
                     Miami, FL 33131
                     Tel: 305-379-7904
                     Email: jbast@bastamron.com

CB Theater's
Estimated Assets: $50 million to $100 million

CB Theater's
Estimated Liabilities: $1 million to $10 million

Cinemex Holdings'
Estimated Assets: $0 to $50,000

Cinemex Holdings'
Estimated Liabilities: $0 to $50,000

CMX Cinemas'
Estimated Assets: $100,000 to $500,000

CMX Cinemas'
Estimated Liabilities: $0 to $50,000

The petitions were signed by Rafael Munoz as president.

Full-text copies of the petitions are available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/QUVX6UI/CB_Theater_Experience_LLC__flsbke-25-17563__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/T2WYNLI/CMX_Cinemas_LLC__flsbke-25-17561__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/TNYKWLY/Cinemex_Holdings_USA_Inc__flsbke-25-17559__0001.0.pdf?mcid=tGE4TAMA

List of CB Theater's 20 Largest Unsecured Creditors:

   Entity                            Nature of Claim  Claim Amount

1. IPFS Corporation                     Insurance         $668,165
3522 Thomasville                         Premium
Rd., Suite 400                          Financing
Tallahassee, FL 32309

2. PRISA III REIT                      Investment         $217,930
Operating LP                            Services
3450 NW 83rd Ave.,                      Rendered
Suite 160
Miami, FL 33122

3. RP Plaza Property, LLC               Services          $130,062
1801 South La                           Rendered
Cienega Blvd, Suite 301
Los Angeles, CA 90035

4. Royal Corporation                      Food            $112,525
10232 Palm Drive                        Packaging
Santa Fe Springs,                       Services
CA 90670-3368

5. Performace Food                        Food             $77,135
Group, Inc.                           Distribution
188 Inverness Dr. W, #700               Services
Englewood, CO 80112

6. The ICEE Company                    Goods and           $57,977
265 Mason Rd.                          Services
La Vergne, TN 37086

7. PVG Insurance Group, LLC            Insurance           $56,128
    
240 Crandon Blvd.,                       Broker
Suite 100
Key Biscayne, FL 33149

8. Deloitte Tax LLP                  Tax Services          $49,589
4022 Sells Dr.
Hermitage, TN 37076

9. Sedgwick Claims                      Claims             $46,533
Management Services, Inc            Administration
8125 Sedgwick Way                      Services
Memphis, TN 38120

10. FPL Energy Services              Power Energy          $29,689
FPL General Mail Facility
Miami, FL 33188

11. City of Richmond                 Governmental          $26,916
900 E. Broad St.                     Assessments
Richmond, VA 23219

12. Restaurant                       Filtration/           $11,046
Technologies, Inc.                    Disposal
2250 Pilot Knob Rd.,
Suite 100
Mendota Heights, MN 55120

13. T-Mobile USA, Inc.               Communication         $10,286
12920 SE 38th St.                       Services
Bellevue, WA 98006

14. Georgia Power                    Power Energy           $9,656
BIN #10102
241 Ralph McGill Blvd.
Atlanta, GA
30308-3374

15. Light My Brand, LLC                 Signage             $8,705
7800 W. Interstate                     Services
10, #825
San Antonio, TX 78230

16. Gordon & Rees                        Legal              $8,310
Scully Mansukhani, LLP                 Services
1111 Broadway,
Suite 1700
Oakland, CA 94607

17. James River Air                Air Conditioning         $7,513
Conditioning Co.
1905 Westmoreland Rd.
Richmond, VA 23230

18. GrayRobinson, P.A.                   Legal              $6,561
333 SE 2nd Ave.,                       Services
Suite 3200

19. City of Clearwater               Governmental           $6,370
551 3rd St., NW                      Assessments
Winter Haven, FL 33881                

20. City of St.                          Water              $6,225
Petersburg                             Services
One 4th St., N
Saint Petersburg, FL 33733


CELSIUS NETWORK: Judge Seeks Further Details in Clawback Case
-------------------------------------------------------------
Rick Archer of Law360 Bankruptcy Authority reports that on Monday,
June 30, 2025, a New York bankruptcy judge said he needs to closely
examine British Virgin Islands law before deciding whether Celsius
Network LLC, a defunct cryptocurrency platform, can proceed in the
U.S. with its $2.3 billion clawback claim against stablecoin issuer
Tether.

                     About Celsius Network

Celsius Network LLC -- http://www.celsius.network/-- is a
financial services company that generates revenue through
cryptocurrency trading, lending, and borrowing, as well as by
engaging in proprietary trading.

Celsius helps over a million customers worldwide to find the path
towards financial independence through a compounding yield service
and instant low-cost loans accessible via a web and mobile app.
Celsius has a blockchain-based fee-free platform where membership
provides access to curated financial services that are not
available through traditional financial institutions.

The Celsius Wallet claims to be one of the only online crypto
wallets designed to allow members to use coins as collateral to get
a loan in dollars, and in the future, to lend their crypto to earn
interest on deposited coins (when they're lent out).

Crypto lenders such as Celsius boomed during the COVID-19 pandemic,
drawing depositors with high interest rates and easy access to
loans rarely offered by traditional banks. But the lenders'
business model came under scrutiny after a sharp sell-off in the
crypto market spurred by the collapse of major tokens terraUSD and
luna in May 2022.

New Jersey-based Celsius froze withdrawals in June 2022, citing
"extreme" market conditions, cutting off access to savings for
individual investors and sending tremors through the crypto
market.

The list of major crypto firms that have filed for bankruptcy
protection in 2022 now includes Celsius Network, Three Arrows
Capital and Voyager Digital.

Celsius Network, LLC and its subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case
No. 22-10964) on July 14, 2022. In the petition filed by CEO Alex
Mashinsky, the Debtors estimated assets and liabilities between $1
billion and $10 billion.

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankruptcy counsels; Fischer (FBC & Co.) as
special counsel; Centerview Partners, LLC as investment banker; and
Alvarez & Marsal North America, LLC as financial advisor. Stretto
is the claims agent and administrative advisor.

On July 27, 2022, the U.S. Trustee appointed an official committee
of unsecured creditors. The committee tapped White & Case, LLP as
its bankruptcy counsel; Elementus Inc. as its blockchain forensics
advisor; M3 Advisory Partners, LP as its financial advisor; and
Perella Weinberg Partners, LP as its investment banker.

Shoba Pillay, Esq., is the examiner appointed in the Debtors'
Chapter 11 cases. Jenner & Block, LLP and Huron Consulting
Services, LLC, serve as the examiner's legal counsel and financial
advisor, respectively.

                        *     *     *

On November 9, 2023, the Bankruptcy Court entered the Findings of
Fact, Conclusions of Law, and Order Confirming the Modified Joint
Chapter 11 Plan of Celsius Network LLC and Its Debtor Affiliates.
The Effective Date of the Plan occurred January 31, 2024.


CERITY PARTNERS: Cliffwater Corporate Marks $1.3MM Loan at 42% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,389,232
loan extended to Cerity Partners, LLC to market at $809,075 or 58%
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 Cerity Partners, LLC.
The loan accrues interest at a rate of 9.56% per annum. The loan
matures on July 28, 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 Cerity Partners, LLC

Cerity Partners, LLC is an investment adviser that provides advice
about securities to clients.


CERITY PARTNERS: Cliffwater Corporate Marks $2.6MM Loan at 44% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,644,227
loan extended to Cerity Partners, LLC to market at $1,482,433 or
56% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Cerity Partners, LLC.
The loan accrues interest at a rate of 9.07% per annum. The loan
matures on July 28, 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 Cerity Partners, LLC

Cerity Partners, LLC is an investment adviser that provides advice
about securities to clients.


CERIUM URGENT CARE: Section 341(a) Meeting of Creditors on July 8
-----------------------------------------------------------------
On June 26, 2025, Cerium Urgent Care LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Georgia. According to court filing, the Debtor reports between
$500,000 and $1 million in debt owed to 1 and 49 creditors. The
petition states funds will be available to unsecured creditors.

A meeting of creditors under Section 341 to be held on July 8/, 025
at 03:00 PM via Telephone conference. To attend, Dial 888-330-1716
and enter access code 6960876.

           About Cerium Urgent Care LLC

Cerium Urgent Care LLC is an urgent care medical services provider
based in Tucker, Georgia. It provides walk-in medical care and
non-emergency treatment services.

Cerium Urgent Care LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-57081) on June 26,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $500,000 and $1 million each.


CGA CORP: Section 341(a) Meeting of Creditors on July 22
--------------------------------------------------------
On June 25, 2025, CGA Corporation filed Chapter 11 protection in
the U.S. Bankruptcy Court for the Central District of California.
According to court filing, the Debtor reports between $100,000 and
$500,000 in debt owed to 1 and 49 creditors. The petition states
funds will be available to unsecured creditors.

A meeting of creditors under Section 341(a) to be held on July 22,
2025 at 10:00 AM at UST-LA1, TELEPHONIC MEETING. CONFERENCE
LINE:1-888-330-1716, PARTICIPANT CODE:4892201.

           About CGA Corporation

CGA Corporation operating as a Subway franchise in Montebello,
California.

CGA Corporation sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-15352) on June 25,
2025. In its petition, the Debtor reports estimated assets between
$10,000 and $50,000 and estimated liabilities between $100,000 and
$500,000.

The Debtors are represented by Thomas B. Ure, Esq. at Ure Law
Firm.


CINEMEX HOLDINGS: Seeks Chapter 11 Bankruptcy for 2nd Time
----------------------------------------------------------
Georgia Hall of Bloomberg reports that Cinemex Holdings USA, the
parent company of CMX Cinemas, has filed for bankruptcy for the
second time in five years.

In court filings submitted Monday, June 30, 2025, the Miami-based
theater chain listed estimated assets between $100,001 and
$500,000, with liabilities under $50,000. Bloomberg reported in
April that the company had been considering asset sales or closing
some of its 28 locations, which include dine-in and IMAX theaters.

The filing adds to the growing list of theater bankruptcies and
restructurings as the industry continues to grapple with the
long-term effects of streaming competition and the COVID-19
pandemic. In 2022, Regal owner Cineworld filed for Chapter 11
protection, while rival AMC Entertainment avoided bankruptcy
through a debt restructuring and, just this week, reached a
settlement with creditors to resolve related litigation.

               About Cinemex Holdings USA

Cinemex Holdings USA, Inc. is a holding company for cinema
operations including CMX Cinema.

Cinemex Holdings sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-17559) on June 30,
2025. In its petition, the Debtor reports estimated assets between
$100,001 and $500,000, with liabilities under $50,000.

Honorable Bankruptcy Judge Corali Lopez-Castro handles the case.

The Debtor is represented by Jeffrey P. Bast, Esq. at Bast Amron
LLP.


CLASSIC CONSTRUCTION: Gets Final OK to Use Cash Collateral
----------------------------------------------------------
Classic Construction & Restoration, Inc. received final approval
from the U.S. Bankruptcy Court for the Northern District of Texas,
Fort Worth Division, to use cash collateral.

The final order authorized the Debtor to use the cash collateral of
merchant cash advance lenders, Nexi Finance and Fusion Funding in
accordance with its budget to fund ongoing operations.

Nexi Finance and Fusion Funding assert they are secured in
substantially all of the Debtor's equipment, inventory and accounts
and the proceeds thereof, which constitute their cash collateral.

As protection, the MCA lenders will be granted replacement liens on
the Debtor's equipment, inventory and accounts whether such
property was acquired before or after the petition date.

The replacements liens are subject and subordinate to (i)
professional fees and expenses of the attorneys, financial advisors
and other professionals retained by any statutory committee if and
when one is appointed; and (ii) any and all fees payable to the
U.S. trustee, the Subchapter V trustee, and the Clerk of the
Bankruptcy Court.

           About Classic Construction & Restoration Inc.

Classic Construction & Restoration Inc. is a general contractor
based in Dallas, Texas, offering services such as water and storm
damage restoration, fire damage repair, roofing, and interior and
exterior maintenance. The Company serves residential and commercial
clients, including homeowner associations, and is recognized for
its expertise in structural work, insurance claims, and legal
support related to insurance settlements. With over 90 years of
service experience, it operates with a full administrative and
project management team to manage construction and restoration
projects of varying scale.

Classic Construction & Restoration sought relief under Subchapter V
of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case
No. 25-41874) on May 27, 2025. In its petition, the Debtor reported
total assets of $394,749 and total liabilities of $2,291,204.

Judge Edward L. Morris handles the case.

The Debtor is represented by Robert T. DeMarco, Esq., at DeMarco
Mitchell, PLLC.


CORNERSTONE BUILDING: S&P Downgrades ICR to 'B-', Outlook Stable
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating (ICR) on North
Carolina-based manufacturer of external building products
Cornerstone Building Brands Inc. to 'B-' from 'B'.

S&P said, "At the same time, we lowered our issue-level ratings on
the company's secured debt to 'B-' from 'B', in line with the ICR,
while lowering the rating on the unsecured debt to 'CCC'. The
recovery ratings are unchanged at '3' and '6', respectively.
"The stable outlook reflects our expectation that the company will
maintain S&P Global Ratings-adjusted leverage near 8x over the next
12 months.

"We believe soft demand has deteriorated Cornerstone's credit
measures such that the company will sustain leverage near 8x over
the next 12 months (versus our prior expectation for meaningful
leverage improvement toward 7x). We expect elevated leverage to
persist through year-end, as challenging market conditions leave
limited opportunity for sufficient earnings growth to more than
offset the additional $1.3 billion in reported debt as of March 31,
2025, related to acquisitions versus year-end 2023. S&P Global
economists forecast a 0.7% decline in both residential and
nonresidential construction and only 1.7% GDP growth in 2025, with
the probability of recession increasing to 30%-35% in the next 12
months. As such, we no longer believe the incorporation of acquired
earnings and the removal of one-time expenses incurred in 2024 will
be sufficient to offset weaker end-market demand within the next 12
months. Beginning in 2026, we anticipate potentially improving
demand from end markets could lead to earnings growth and some
slight deleveraging.

"Cornerstone remains a market leader in two cyclical and
competitive construction markets with historically strong earnings.
Our view of the company's business reflects its robust market
shares in vinyl siding and vinyl windows. In addition, the company
has demonstrated operational efficiency improvements to offset its
exposure to volatile raw material costs and cyclical demand. With
softer end-market performance anticipated in 2025, we forecast only
low-single-digit percent revenue growth, benefited by the inclusion
of acquired earnings. However, we expect Cornerstone's successful
manufacturing optimization and other efficiency initiatives will
enable it to maintain an S&P Global Ratings-adjusted EBITDA margin
of approximately 12% in 2025.

"We continue to view Cornerstone's liquidity position as adequate,
with forecasted positive free operating cash and available credit
facilities despite weaker operating results. As of March 2025, the
company had $162 million in cash and $720 million availability on
bank lines. We expect that this, combined with negligible expected
cash inflows in 2025, will be sufficient to maintain current
operations and support long-term growth initiatives. However, there
is minimal headroom if the covenants were to be tested,
specifically on its asset-based lending facility (ABL). We also
expect the cash balance could be sufficient to prevent meaningful
draws on either the ABL or revolver.

"The stable outlook reflects our view that persistently soft market
conditions could somewhat slow Cornerstone's revenue and earnings
growth in the short term. Over the next 12 months, we expect S&P
Global Ratings-adjusted leverage near 8x and EBITDA interest
coverage at the low end of the 1.5x-2.0x range."

S&P could lower the rating on Cornerstone over the next 12 months
if:

-- S&P views its capital structure as unsustainable, as
demonstrated by adjusted leverage deteriorating toward 10x, EBITDA
interest coverage trending toward 1x, or free cash flow turning
negative. This could occur in the case of a severe downturn such
that demand for the company's products drastically declines or
higher-than-expected input prices can't be passed on, as higher
prices compress margins;

-- The company undertakes a more aggressive financial policy, such
as pursuing a debt-financed acquisition; or

-- S&P's view of liquidity weakens, driven by a lack of covenant
headroom.

S&P said, "We could raise the rating if Cornerstone's earnings are
stronger than we forecast, such that its S&P Global
Ratings-adjusted leverage improves to below 7x and we expect that
to persist. This could occur if its S&P Global Ratings-adjusted
earnings improve faster than expected, helped by better demand,
such that leverage declines back to the 6x-7x range, with adjusted
EBITDA interest coverage increasing to 2x."



CRESCENT CITY: Greta Brouphy Named Subchapter V Trustee
-------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Greta Brouphy, Esq.,
at Heller Draper & Horn, LLC as Subchapter V trustee for Crescent
City Meat Co, Inc.

Ms. Brouphy will be paid an hourly fee of $400 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Greta M. Brouphy
     Heller Draper & Horn, LLC
     650 Poydras St., Ste. 2500
     New Orleans, LA 70130-6175
     Telephone: 504-299-3300-; Fax 504-299-33
     Email: gbrouphy@hellerdraper.com

                 About Crescent City Meat Co Inc.

Crescent City Meat Co, Inc. is a meat processing company based in
Metairie, Louisiana, specializing in Cajun-style sausages and
boudin. It offers products made from pork, crawfish, shrimp, and
alligator, and operates under USDA inspection. Founded in 1985, the
Company serves retail and wholesale customers in the region.

Crescent City Meat Co filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. E.D. La. Case No. 25-11178) on
June 10, 2025. In its petition, the Debtor reported total assets of
$1,993,006 and total liabilities of $1,479,338.

The Debtor is represented by Robin R. De Leo, Esq., at The De Leo
Law Firm, LLC.


CRESCENT ENERGY: Fitch Rates New Unsecured Notes Due 2034 'BB-'
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB-' rating with a Recovery Rating of
'RR4' to Crescent Energy Finance LLC's proposed senior unsecured
notes due 2034. Net proceeds from the notes will be used to fund
the tender offer for a portion of the $1 billion notes due 2028.

The 'BB-'/Stable Issuer Default Ratings (IDRs) of Crescent and its
parent, Crescent Energy Company, reflect their operational scale,
moderate midcycle leverage, healthy liquidity profile, and
conservative hedging program. Crescent also has a below-average
decline rate compared to shale producers. It is a top three
operator in the Eagle Ford shale.

The ratings also reflect Crescent's lagging operating netbacks,
which make it sensitive to falling oil and gas prices and growth
driven by M&A. Fitch forecasts Crescent's midcycle leverage at
1.6x, below the negative rating sensitivity of 2.0x.

Key Rating Drivers

Notes Improve Average Tenor: The proposed notes issuance should be
nearly debt neutral but will slightly increase Crescent's average
debt tenor. Fitch expect that approximately $500 million of the
2028 notes will be replaced with the proposed 2034 notes. Crescent
may also draw on its revolver to cover the redemption premium and
transaction fees.

Leverage Target Unchanged: Crescent's Fitch-calculated EBITDA
leverage is 1.6x at midcycle oil and gas prices. Crescent will
continue to target 1.0x leverage with a maximum of 1.5x after the
acquisition. Fitch expects Crescent to use its FCF after dividends
to reduce reserve-based lending facility (RBL) drawdown.

Simplified Corporate Structure: Crescent Energy Company's Class B
shareholders exchanged their OpCo units for Class A shares in April
2025. Following the exchange, the Class B shares were cancelled.
This change will result in dividends previously paid to
non-controlling OpCo unit holders now being paid to common
shareholders, which will lower Fitch-calculated EBITDA leverage
metrics. However, its assessment of Crescent's financial profile is
unchanged because as Fitch focused on Crescent's EBITDA leverage
before subtracting dividends paid to non-controlling interests.

Improved Scale, Focus on Eagle Ford: The completion of the Ridgemar
acquisition in January 2025 increased Crescent's scale and enhanced
its position as one of the largest operators in the Eagle Ford
shale. Fitch expects Crescent's production volume to exceed 250
thousand barrels of oil equivalent per day (kboe/d; around 40% oil)
in 2025 and that midcycle EBITDA will gradually increase to $1.6
billion.

Lower Decline Rate Assets: Crescent estimates a decline rate of
approximately 25%. This is below the typical rate for shale
producers, which is above 30%. A material share of the company's
operations is in more mature plays, which usually require lower
capex due to their older vintage wells. These wells experience
lower decline rates than recently developed ones.

Extensive Hedge Program: Crescent has lower operating netbacks than
oil-focused shale peers due to the presence of mid-life assets and
large proportion of natural gas and natural gas liquids in its
portfolio. This leads to increased sensitivity to oil and gas price
downswings. To offset this, Crescent's hedging program is more
robust than those of many other comparable upstream companies.
Crescent's hedging intensity is above-average relative to peers.

Peer Analysis

Crescent reported an average production of 258 kboe/d (39% oil) in
1Q25. This is higher than operators such as: SM Energy Company
(BB/Stable; 197 kboe/d; 53% oil), which benefits from the strong
economics of its Permian Basin weighted asset base; Permian-based
Matador Resources Company (BB/Stable; 199 kboe/d; 58% oil); and
Baytex Energy (BB-/Stable; 154 kboe/d before royalties; 71% oil).
Crescent's production was significantly ahead of MEG Energy Corp.
(BB-/Stable; 103 kboe/d before royalties; 100% oil) and Vermilion
Energy (BB-/Negative; 103 kboe/d before royalties; 31% oil).

Crescent has a history of low leverage though-the-cycle. Fitch
believes this will continue, with EBITDA midcycle leverage of 1.6x.
This is slightly above the midcycle leverage for most of its
peers.

In 1Q25, Crescent generated an unhedged cash netback of $19/boe.
This falls materially below the peer group due to the significant
presence of more mature assets in Crescent's portfolio. To
compensate for its higher-cost profile, Crescent hedges more than
its peers.

Key Assumptions

- West Texas Intermediate prices of $60/bbl in 2025-2027 and
$57/bbl at midcycle;

- Henry Hub prices of $3.25/ mcf in 2025, $3/mcf in 2026 and
$2.75/mcf in 2027 and at midcycle;

- Production fluctuating around 265 kboe/d in 2025-2029;

- Capex at $950 million to $1,000 million per annum in 2025-2029;

- Around $300 million of annual share buybacks in 2028-2029.

RATING SENSITIVITIES

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

- Midcycle EBITDA leverage before excluding NCI dividends above
2.0x;

- Deterioration in liquidity including sustained high revolver
utilization or large negative FCF;

- Evidence of KKR utilizing its voting position to influence
governance in a credit-unfriendly manner.

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

- Midcycle EBITDA approaching $1.75 billion and production volumes
exceeding 275 kboe/d;

- Improvement in netbacks relative to peers;

- Capital allocation involving debt reduction or credit-accretive
acquisitions;

- Midcycle EBITDA leverage before excluding NCI dividends below
1.5x.

Liquidity and Debt Structure

As of March 31, 2025, Crescent had $6 million of cash on hand and
$1.4 billion available under its $2.0 billion RBL. The RBL expires
in 2029 with a springing maturity in November 2027. The facility's
borrowing base is $2.6 billion. Crescent's other debt consisted of
unsecured notes maturing in 2028, 2032 and 2033. The company's
total debt was $3.6 billion as of March 31, 2025. Fitch projects
that the company's liquidity will be supported by positive FCF
generation based on its oil and gas price assumptions.

Issuer Profile

Crescent is a public oil and gas company producing over 250 kboe/d
(approximately 40% oil). Around 75% is produced from the Eagle Ford
area, and the rest comes from the Uinta basin, Wyoming conventional
assets and smaller U.S. onshore positions.

Date of Relevant Committee

30 July 2024

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

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

ESG Considerations

Crescent has an ESG Relevance Score of '4' for Governance
Structure, as KKR affiliates own all of Crescent's non-economic
preferred share class. These shares have enhanced voting rights
that provide KKR the ability to appoint the entire board of
directors at its discretion. This has a negative impact on the
credit profile and is relevant to the rating in conjunction with
other factors.

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

   Entity/Debt             Rating          Recovery   
   -----------             ------          --------   
Crescent Energy
Finance LLC

   senior unsecured    LT BB-  New Rating    RR4


CTF-CHICAGO: Hires Fort Dearborn Partners as Financial Advisor
--------------------------------------------------------------
CTF-Chicago, Inc. seeks approval from the U.S. Bankruptcy Court for
the Northern District of Illinois to employ Fort Dearborn Partners
as financial advisor.

The firm will assist the Debtor in preparing revisions to its
projections and provide testimony regarding the projections in
order to support the feasibility of its Amended Plan.

The firm will be paid at these rates:

      Robert Cleary          $400 per hour
      Eric Baumbach          $275 per hour

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

Robert Cleary, a partner at Fort Dearborn Partners, 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 Cleary
      Fort Dearborn Partners
      190 South LaSalle, St., Ste. 1650
      Chicago, IL 60603
      Email: rscleary@fortdearbornpartners.com

              About CTF Chicago, Inc.

CTF Chicago, Inc. operates within a framework that requires
substantial capital and resources. The company is structured to
provide specific services or products, likely in a competitive
market, given its presence in Chicago.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-15580) with up to
$50,000 in assets and up to $10 million in liabilities. Charles
Graff, managing member, signed the petition.

Judge Janet S. Baer oversees the case.

The Debtor is represented by Richard G. Larsen, Esq., at Springer
Larsen, LLC.

Wintrust Bank, as lender, is represented by:

     Andrew H. Eres, Esq.
     Dickinson Wright PLLC
     55 W. Monroe, Suite 1200
     Chicago, IL 60603
     Tel: (312) 377-7891
     E-mail: aeres@dickinson-wright.com


D & M VENTURES: Case Summary & Eight Unsecured Creditors
--------------------------------------------------------
Debtor: D & M Ventures, LLC
        214 E. Travis St., Unit 204
        San Antonio, TX 78205

Business Description: D & M Ventures, LLC provides real estate
                      consulting and development services, with a
                      focus on public-private housing projects.
                      The Company operates in Texas and holds a
                      financial interest related to a multifamily
                      housing development in Pharr.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 25-51433

Judge: Hon. Craig A. Gargotta

Debtor's Counsel: H. Anthony Hervol, Esq.
                  LAW OFFICE OF H. ANTHONY HERVOL
                  22211 IH-10 West, Suite 1206-168
                  San Antonio, TX 78257
                  Tel: (210) 522-9500
                  Fax: (210) 522-0205
                  E-mail: hervol@sbcglobal.net
    
Total Assets: $14,007,929

Total Liabilities: $906,188

The petition was signed by Cynthia A. Marquez 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/2J2LMXA/D__M_Ventures_LLC__txwbke-25-51433__0001.0.pdf?mcid=tGE4TAMA


D & M VENTURES: Seeks Subchapter V Bankruptcy in Texas
------------------------------------------------------
On June 30, 2025, D & M Ventures LLC filed Chapter 11 protection
in the U.S. Bankruptcy Court for the Western District of Texas.
According to court filing, the Debtor reports between $100,000
and $500,000 in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About D & M Ventures LLC

D & M Ventures LLC is a professional services firm based in San
Antonio, Texas. The company operates in the management, scientific,
and technical consulting services sector according to its NAICS
classification (5416).

D & M Ventures LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51433)
on June 30, 2025. In its petition, the Debtor reports estimated
assets between $10 million and $50 million and estimated
liabilities between $100,000 and $500,00.

Honorable Bankruptcy Judge Craig A. Gargotta handles the case.

The Debtors are represented by H. Anthony Hervol, Esq. at Law
Office Of H. Anthony Hervol.


D TUR HOTEL: Hires Law Offices of Michael Jay Berger as Counsel
---------------------------------------------------------------
D Tur Hotel LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of California to employ Law Offices of Michael
Jay Berger as general bankruptcy counsel.

The firm will provide these services:

     (a) communicate with creditors of the Debtor;

     (b) review the Debtor's Chapter 11 bankruptcy petition and all
supporting schedules;

     (c) advise the Debtor of its legal rights and obligations in a
bankruptcy proceeding;

     (d) work to bring the Debtor into full compliance with
reporting requirements of the Office of the United States Trustee;

     (e) prepare status reports as required by the court; and

     (f) respond to any motions filed in the Debtor's bankruptcy
proceeding.

The firm will be paid at these rates:

     Michael Jay Berger, Partner     $695 per hour
     Sofya Davtyan, Partner          $645 per hour
     Angela Gill, Senior Associate   $595 per hour
     Robert Poteete, Associate       $475 per hour
     Senior Paralegals               $275 per hour
     Paralegals                      $200 per hour

The firm received a retainer of $25,000 plus $1,738 filing fee from
the Debtor.

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

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

The firm can be reached through:

     Michael Jay Berger, Esq.
     Law Offices of Michael Jay Berger
     9454 Wilshire Blvd., 6th Floor
     Beverly Hills, CA 90212
     Tel: (310) 271-6223
     Fax: (310) 271-9805
     Email: Michael.Berger@bankruptcypower.com

              About D Tur Hotel LLC

D Tur Hotel LLC operates a motel property in Turlock, California.

D Tur Hotel sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D. Cal. Case No. 25-90467) on June 6, 2025. In its
petition, the Debtor reported estimated assets between $1 million
and $10 million and estimated liabilities between $10 million and
$50 million.

Judge Christopher D. Jaime handles the case.

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



DEL MONTE FOODS: Seeks Chapter 11, Pursues Value-Maximizing Sale
----------------------------------------------------------------
On July 1, 2025, Del Monte Foods Corporation II Inc., a major U.S.
producer and marketer of branded food products, announced it is
launching a strategic sale process as part of a broader effort to
restructure its balance sheet. To support this initiative, the
Company and certain affiliates have filed for voluntary Chapter 11
protection in the U.S. Bankruptcy Court for the District of New
Jersey. Del Monte Foods has entered into a restructuring support
agreement (RSA) with a group of its term loan lenders. The RSA
outlines a court-supervised going-concern sale of all or
substantially all of the Company's assets, with the backing of the
lender group, in order to secure the highest possible value for
stakeholders.

"This is a pivotal move for Del Monte Foods," said Greg Longstreet,
President and CEO. "Following an extensive review of our options,
we concluded that a court-supervised sale offers the most effective
path to accelerate our transformation and secure a stronger future.
With new ownership and a healthier capital structure, we'll be
better positioned for long-term growth."

To fund operations throughout the sale process, the Company has
secured $912.5 million in debtor-in-possession (DIP) financing from
certain existing lenders, including $165 million in new capital,
subject to court approval. Combined with ongoing cash flow, this
funding is expected to provide ample liquidity to support normal
business operations, including the Company's pack season currently
underway, PR Newswire reports.

"Despite headwinds from a challenging economic climate, Del Monte
Foods has remained committed to nourishing families for nearly 140
years," Longstreet added. "We're grateful to our employees,
growers, customers, vendors, and lenders for their continued
support as we work toward a stronger future."

To ensure a smooth transition into Chapter 11, the Company filed
standard "first day" motions, which—if approved—will allow it
to maintain regular operations and meet obligations to employees,
suppliers, and customers without disruption.  The Chapter 11
filings do not include Del Monte's international subsidiaries,
which will continue normal operations outside the scope of the U.S.
proceedings, the report states.

                  About Del Monte Foods Inc.

Del Monte Foods manufactures and distributes packaged food
products. The Company provides canned fruits and vegetables, as
well as a wide range of snacks. Del Monte Foods serves customers
worldwide.

Del Monte Foods Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 25-16995) on July 1, 2025.
In its petition, the Debtor reports estimated assets and
liabilities between $1 billion and $10 billion each.

Herbert Smith Freehills Kramer (US) LLP and Cole Schotz P.C. are
serving as legal counsel, Alvarez & Marsal North America, LLC is
serving as financial advisor, and PJT Partners is serving as
investment banker to the Company.


DILLARD'S INC: S&P Affirms 'BB+' ICR on Strong Credit Metrics
-------------------------------------------------------------
S&P Global Ratings affirmed all its ratings, including its 'BB+'
issuer credit rating on U.S.-based department store retailer
Dillard's Inc.

The stable outlook reflects our expectation that Dillard's will
maintain leverage cushion despite soft consumer demand and tariffs
pressuring profitability over the next 12 months.

Dillard's Inc. reported a sales decline of 2% and margin
contraction in the first quarter of 2025.

S&P said, "We expect the company will maintain a conservative
financial policy, providing cushion to absorb near-term performance
impacts from tariffs and weak consumer demand.

"The affirmation reflects our view that Dillard's is a strong but
smaller player in a secularly declining industry with a
conservative financial policy. The company's performance continues
to normalize from elevated demand during the COVID-19 pandemic.
Retail sales have declined for nine quarters since a peak in 2022,
ending the first quarter of 2025 in a 2% decline, with comparable
sales reduction of 1%. We expect macroeconomic uncertainties and
inflation will constrain consumer demand for discretionary products
this year. In addition, we believe Dillard's remains exposed to
disruptive long-term sector trends. In our view, a shift in
consumer preference to online shopping, a rapid increase in
off-price business models, and a decline in mall foot traffic are
risks for department stores. Dillard's recently increased its mix
of more luxury brands, giving it exposure to high-end consumers,
which we view as more resilient.

"In addition, Dillard's has invested in refreshing its stores.
Nonetheless, we project a revenue decline of almost 2% this year
and a slight decline in 2026. We will monitor Dillard's ability to
grow revenue and sustain operating margins.

"Notwithstanding recent operating successes, we view Dillard's
relatively small scale and exposure to disruptive trends in a
secularly declining industry as a risk. Therefore, we continue to
apply a negative comparable rating modifier to capture this
standing in relation to its higher rated peers."

Fiscal 2025 will be a challenging year for department stores given
weaker consumer demand and tariff expenses. Dillard's S&P Global
Ratings-adjusted EBITDA margin decreased 210 basis points to 13.9%
in the first quarter on a last-12-months basis due to lower
merchandise margin and higher labor costs. While optimized
inventory management and effective cost-control initiatives have
supported better profitability than other department store
operators, the company's adjusted EBITDA margins continue to
normalize from their peak of 20.1% in fiscal 2021. S&P forecasts a
further decline to 12.8% this year and 12.5% in 2026 due to soft
demand, elevated costs from tariffs, and operating deleverage.

Dillard's offering consists of almost 25% of exclusive
private-label products, with a large portion directly exposed to
tariffs. To partially offset that, Dillard's has pulled forward
inventory, raised prices on some specific products, and adjusted
its supply chain. Inventory increased 6% in the first quarter.
While S&P believes Dillard's inventory position is manageable and
will decline this year, weaker-than-expected demand caused by
macroeconomic uncertainties could result in increased promotions.

S&P said, "We expect Dillard's will maintain a conservative
financial policy. The company has historically operated with low
funded debt, and it increased its cash balance following the
COVID-19 pandemic to $1.2 billion as of May 3, 2025. It reported a
net cash position in the first quarter of 2025. We assume Dillard's
will preserve cash this year and gradually reduce its position via
shareholder returns and debt repayment. We project it will repay
$96 million of its notes coming due in 2026 and $80 million in
2027. As a result, we expect adjusted leverage will remain well
below 1x in the next two years. In addition, its ability to
consistently convert sales to cash has supported low leverage and a
strong liquidity profile. Dillard's generated $610 million in
reported free operating cash flow (FOCF) in 2024 compared to $751
million in the prior year largely due to lower profitability. We
forecast annual reported FOCF will stabilize in the $510
million-$560 million range over the next two years.

"Dillard's owns the real estate for about 90% of its stores, with a
book value net of depreciation of almost $1 billion. We view its
substantial asset ownership as strategic, providing operating and
financial flexibility. In addition, the company has more than
enough resources to invest in its stores. Under current management
and family control, we expect it to maintain real estate ownership
and a conservative approach to debt."

Dillard's has improved its operations. The company has optimized
its inventory management following the pandemic with inventory
declining to $1.2 billion in fiscal 2024 from $1.5 billion in
fiscal 2019 while inventory turn increased to 3.5x from 2.8x. This,
with a focus on full price selling and relevant product assortment,
increased gross margin to 40.5% in fiscal 2024 from a three-year
average of 34% and adjusted EBITDA to $932 million from a
three-year average of $483 million before the COVID-19 pandemic.

The stable outlook reflects S&P's expectation that Dillard's will
maintain leverage cushion despite soft consumer demand and tariffs
pressuring profitability over the next 12 months.

S&P could lower the rating if Dillard's sustains S&P Global
Ratings-adjusted leverage above 2x. This could occur if:

-- A worsening macroeconomic environment, increased competition,
or operational missteps weaken performance more than expected,
reducing S&P Global Ratings-adjusted EBITDA margins to the
high-single-digit percent area and weakening FOCF prospects; or

-- The company shifts to a more aggressive financial policy.

S&P could raise the rating if Dillard's:

-- Demonstrates multiyear positive comparable sales and adjusted
EBITDA margin stabilization in the low-teens percent area, leading
to consistent FOCF; and

-- Remains committed to a conservative financial policy.



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

The court authorized the Debtor's interim use of cash collateral on
the same terms and conditions set forth in its initial order issued
on June 13.

The final hearing is scheduled for July 8.

The Debtor's cash collateral consists of rents and accounts
receivable, which are
held by the U.S. Small Business Administration and other secured
creditors, including Restaurant Refrigeration Rentals, US Foods
Inc., Employment Development Department, Kapitus, and Newco Capital
Group.

SBA asserts a claim against the Debtor in the amount of $1,960,684.
The claim stemmed from a pre-bankruptcy loan SBA made to the Debtor
in the principal amount of $500,000.

                     About Dog Robber Inc.

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

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

Judge Neil W. Bason oversees the case.

Richard Sturdevant, Esq., at Financial Relief Law Center, APC,
represents the Debtor as bankruptcy counsel.


DOUBLE PLAY: Gets Interim OK to Use Cash Collateral Until July 31
-----------------------------------------------------------------
Double Play Oil & Gas, Inc. received fourth interim approval from
the U.S. Bankruptcy Court for the Southern District of Texas to use
cash collateral.

The court's order authorized the Debtor's interim use of cash
collateral through July 31 to pay the expenses set forth in its
budget.

As protection, creditors with an interest in cash collateral will
be granted replacement liens to the same extent and with the same
priority and validity as their pre-bankruptcy liens.

In addition, the Debtor was ordered to keep its assets insured as
further protection.

The final hearing is scheduled for July 23.

The Debtor initiated bankruptcy due to foreclosure actions by
Freedom Bank. Various creditors, including Freedom Bank and the
U.S. Small Business Administration, hold secured interests in the
Debtor's assets, with several liens recorded. Freedom Bank appears
to be the only creditor with a deed of trust interest.

The Debtor owed $283,000 to Freedom Bank and $49,182 to SBA,
according to court papers filed by the Debtor on May 5.

                 About Double Play Oil & Gas Inc.

Double Play Oil & Gas, Inc. is an oil and gas operator in Portland,
Texas.

Double Play Oil & Gas filed Chapter 11 petition (Bankr. S.D. Texas
Case No. 25-20130) on May 5, 2025, listing up to $50,000 in assets
and up to $10 million in liabilities. Glenn Burdine, director and
president of Double Play Oil & Gas, signed the petition.

Judge Marvin Isgur oversees the case.

Stephen W. Sather, Esq., at Barron & Newburger, P.C., represents
the Debtor as legal counsel.


DP LOUISIANA: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: DP Louisiana, LLC
        c/o EAG Services
        PO Box 131328
        Houston, TX 77219

Business Description: DP Louisiana, LLC is engaged in oil and gas
                      extraction operations.  The Company is based
                      in Louisiana and uses EAG Services in
                      Houston, Texas, for administrative support.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Eastern District of Louisiana

Case No.: 25-11366

Judge: Hon. Meredith S Grabill

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

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Christopher O. Ryals as chief
restructuring officer.

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

https://www.pacermonitor.com/view/5334PSY/DP_Louisiana_LLC__laebke-25-11366__0001.0.pdf?mcid=tGE4TAMA


EARPS MIDCO: Cliffwater Corporate Marks $560,000 Loan at 50% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $560,779
loan extended to Earps Midco 3 Limited to market at $280,359 or 50%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Earps Midco 3
Limited. The loan accrues interest at a rate of 1.00% per annum.
The loan matures on March 28, 2032.

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

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

The Fund can be reach through:

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

         About Earps Midco 3 Limited

Earps Midco 3 Limited is engaged in providing financial solutions
and services.


EDGECO BUYER: Cliffwater Corporate Marks $14.6MM Loan at 90% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$14,657,438 loan extended to EdgeCo Buyer, Inc. to market at
$1,423,509 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 EdgeCo Buyer, Inc.
The loan accrues interest at a rate of 18.79% per annum. The loan
matures on June 1, 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 EdgeCo Buyer, Inc.

Edgeco Buyer, Inc. provides financial services. The Company offers
its services in the U.S.


EDITH'S CRUST: Walter Dahl Named Subchapter V Trustee
-----------------------------------------------------
The U.S. Trustee for Region 17 appointed Walter Dahl, Esq., a
partner at Dahl Law, as Subchapter V trustee for Edith's Crust and
Crumb, Inc.

Mr. Dahl will be compensated at $485 per hour for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

In court filings, Mr. Dahl declared that he is a disinterested
person according to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Walter R. Dahl
     Dahl Law
     2304 "N" Street
     Sacramento, CA 95816-5716
     Telephone: (916) 446-8800
     Telecopier: (916) 741-3346
     Email: wdahl@dahllaw.net

                   About Edith's Crust and Crumb

Edith's Crust and Crumb, Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. E.D. Calif. Case No.
25-90481) on June 12, 2025, with $100,001 to $500,000 in assets and
liabilities.

Judge Christopher D. Jaime presides over the case.

David C. Johnston, Esq., represents the Debtor as legal counsel.


ELMA TRANSPORT: Seeks Chapter 11 Bankruptcy in Illinois
-------------------------------------------------------
Caleb Revill of FreightWaves reports that Elma Transport Inc., a
freight carrier based in Elk Grove Village, Illinois, filed for
Chapter 11 bankruptcy on Friday, June 27, 2025, in the U.S.
Bankruptcy Court for the Northern District of Illinois -- marking
the third Illinois-based trucking company to do so this month. The
filing follows similar bankruptcy petitions from Nortia Logistics
in Franklin Park on June 9 and Dolche Truckload Corp in Palatine
the following week.

According to court documents, Elma Transport lists estimated
liabilities between $500,000 and $1 million, with assets ranging
from $100,000 to $500,000. Up to 49 creditors are named, though
none were specified in the initial filing.

Federal data from the SAFER system shows Elma Transport operates 43
power units with 46 drivers, hauling general freight, produce,
meat, dry bulk goods, refrigerated products, beverages, and paper
supplies.

However, the company has faced operational issues. Over the past
two years, 12 of 22 vehicle inspections resulted in out-of-service
orders—a 54% rate, more than double the national average of 22%.
During the same period, the company was involved in nine crashes,
three of which resulted in injuries, the report states.

                  About Elma Transport Inc.

Elma Transport Inc. is an Illinois-based trucking company.

Elma Transport sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09866) on June 27,
2025. In its petition, the Debtor reports estimated liabilities
between $500,000 and $1 million, with assets ranging from $100,000
to $500,000.

Honorable Bankruptcy Judge Janet S. Baer handles the case.

The Debtor is represented by Saulius Modestas, Esq. at Modestas Law
Offices, P.C.


FLIP LLC: Lender Seeks to Prohibit Cash Collateral Access
---------------------------------------------------------
Wilmington Savings Fund Society, FSB, as trustee for IBIS Holdings
A Trust, asked the U.S. Bankruptcy Court for the District of
Maryland, Baltimore Division, to prohibit FLIP, LLC from using cash
collateral.

Wilmington, through its loan servicer Selene Finance, LP, holds
secured interests in four Baltimore properties via promissory notes
and deeds of trust that include Assignment of Rents provisions.

The total delinquency exceeds $795,000 as of June 6. Selene is in
the process of filing proofs of claim for each loan, which includes
escrow impounds for taxes and insurance.

The creditor argues that FLIP has failed to:

1. File a motion to use cash collateral as required by Section
363(c)(2);
2. File required schedule I, statements or operating reports; and
3. Provide any accounting of rental income generated by the
properties.

Wilmington asserted that the Debtor may be using rental income
legally considered cash collateral without permission, violating
bankruptcy rules and harming the creditor's interests while the
subject loans remain in default. Wilmington also noted that 17 S.
Conkling St. is not listed in the Debtor's schedules, raising
further concerns about transparency.

Wilmington emphasized that failure to comply with cash collateral
rules is grounds for dismissal or conversion of the case under 11
U.S.C. section1112(b)(4)(D) and urged the court to protect its
secured interests while the Debtor's financial conduct remains
unaddressed.

A final hearing is scheduled for July 17.

                       About Flip LLC

Flip, LLC leases real estate properties across residential,
commercial, and industrial sectors. The Company operates as a
lessor, providing rental and leasing services for various types of
real property.

Flip, LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Md. Case No. 25-14842) on May 29, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $1 million and $10 million each.

The Debtors are represented by Duane R. Demers, Esq. at LAW OFFICES
OF ALI K, LLC.

Wilmington Savings Fund Society, FSB, is represented by:

   Thomas Gartner, Esq.
   Dc Cubas & Lewis, PA
   P.O. Box 5026
   Fort Lauderdale, FL 33310
   Tel: (954) 453-0365
   thomas.gartner@decubaslewis.com


FLYING STAR: Seeks to Extend Plan Exclusivity to September 24
-------------------------------------------------------------
Flying Star LLC and affiliates asked the U.S. Bankruptcy Court for
the Central District of California to extend their exclusivity
periods to file a plan of reorganization and obtain acceptance
thereof to September 24 and December 5, 2025, respectively.

This is the Debtors' first request for extension and the case is
only a few months old. Prior to the litigation with Cozy Comfort,
the Debtors were able to pay their debts as they came due from the
operations of the businesses. As a result of the litigation with
Cozy Comfort, the Debtors have been subjected to increased costs
and expenses; however, the Debtors maintain that a restructure of
their debts through amortization is achievable depending on the
result of the appeal.

Finally, the Debtors' request is entirely reasonable and proposed
in good faith to give the Debtors more time to fully understand the
universe of the claims against the Estates. The Judgment is by far
the largest claim against the Estates, and as such, the outcome of
the appeal will have a substantial impact on the universe of claims
to be accounted for in any Plan.

The Debtors explain that if they were to estimate the value of the
Judgment, and propose a plan before the present deadline, such a
plan would serve no purpose but to invite unnecessary controversy.
Any plan that the Debtors may propose within the current
exclusivity period would likely require amendment after the appeal
is concluded. This, in turn, would cause the Estates to incur
additional and unnecessary cost and expense, without expediting the
plan confirmation process.

Moreover, the expiration of the claims bar date, which has been set
for June 30, 2025, will help provide certainty to the Debtors
regarding the aggregate amount and character of the claims against
the Estates and aid Debtors in proposing a Plan.

Simply put, the Debtors are not seeking an extension of exclusivity
to pressure creditors, avoid their obligations under the Bankruptcy
Code, or otherwise cause prejudice to any party. In fact, the
Debtors' intentions are quite the opposite; the Debtors believe
that the extension of this deadline will result in a swifter
conclusion to the bankruptcy process by eliminating the potential
for interference and expense of a competing Plan all for the
benefit of the Estates and their creditors.

Attorneys for Debtors Flying Star LLC, Sky Creation LLC, Top Brand
LLC and E Star LLC:

     Michael B. Reynolds, Esq.
     Andrew B. Still, Esq.
     Allison C. Murray, Esq.
     SNELL & WILMER L.L.P.
     600 Anton Blvd # 1400
     Costa Mesa, CA 92626
     Tel: (714) 427-7027
     Email: mreynolds@swlaw.com

Attorneys for John Shun On Ngan:

     James E. Till, Esq.
     Mike Neue, Esq.
     Till Law Group
     120 Newport Center Drive
     Newport Beach, CA 92660
     Telephone: (949) 524-4999
     Email: james.till@till-lawgroup.com
                 
                       About Flying Star LLC

Flying Star LLC and affiliates are businesses primarily focused on
the design, production, and sale of clothing items, particularly
oversized hooded sweatshirts and wearable blankets.

Flying Star LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11380) on February
24, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.

Honorable Bankruptcy Judge Julia W. Brand handles the case.

James E. Till, Esq., at Till Law Group represents the Debtor as
counsel.


FRANCIS TRUST: Gets Interim OK to Use Cash Collateral Until July 8
------------------------------------------------------------------
Francis Trust, LLC received interim approval from the U.S.
Bankruptcy Court for the District of Maine to use cash collateral.

The order penned by Judge Peter Cary authorized the Debtor's
interim use of cash collateral in line with the revised budget
through the final hearing, which is set for July 8.

Stormfield SPV I, LLC, the Debtor's primary secured creditor, will
be granted replacement liens on all assets of the Debtor in case of
any diminution in value of its cash collateral. The replacement
liens do not apply to avoidance actions).  

The order is immediately enforceable upon entry and remains in
effect through the interim period pending the July 8 hearing.

                   About Francis Trust

Francis Trust LLC operates The Moorings of New Harbor, a lodging
complex situated in New Harbor, Maine. This property offers a
variety of accommodations, including private units in historic
homes with harbor and ocean views. Amenities at The Moorings
include an indoor heated pool, hot tub, tennis courts, and free
Wi-Fi. Some units are pet-friendly and feature full kitchens,
fireplaces, and expansive decks.

Francis Trust sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Me. Case No. 25-10064) on April 15, 2025. In its
petition, the Debtor reported between $1 million and $10 million in
both assets and liabilities.

Judge Peter G. Cary handles the case.

The Debtor is represented by Tanya Sambatakos, Esq., at Molleur Law
Firm.


FREEBIRD STORES: Faces Financial Crisis, Closes 14 of 20 Stores
---------------------------------------------------------------
Footwear Magazine reports that Freebird, the Denver-based retailer
known for its handcrafted Western-inspired boots, is in the midst
of a financial crisis that has prompted widespread store closures
and a search for a buyer.

As reported by The Denver Post, the company has left its Cherry
Creek headquarters, reduced its workforce, and is shutting down at
least 14 of its 20 retail locations. Additional closures are likely
if a sale is not finalized soon. The company's financial condition
deteriorated in May 2025 when KeyBank filed a lawsuit, alleging
Freebird failed to repay $15.4 million in loans. Since then,
operations have been overseen by court-appointed receiver Ampleo.
In a June 9 filing, Ampleo's Doug Charboneau described the
situation as "precarious," citing a critical liquidity shortfall.

Freebird is also burdened by a $6 million debt to a manufacturer in
Mexico, which supplies the majority of its products. The supplier
has halted shipments due to unpaid bills, cutting off the company's
inventory flow. "With no new product and no refinancing options,
immediate steps had to be taken," Charboneau said.

As of June 2, 2025, the receiver began closing underperforming
stores, cutting staff, and vacating the corporate office. If no
buyer emerges, four more stores will close, leaving only two
operational. Office equipment and furniture from the headquarters
are being readied for auction. To preserve cash, the company has
adopted a strict final-sale policy, with no returns accepted on new
purchases, according to Footwear Magazine.

Ampleo is in active discussions with two interested buyers who have
signed nondisclosure agreements. "While a deal is not yet certain,
we're moving forward with sale efforts alongside cost-cutting
measures," said Charboneau.

KeyBank backs the ongoing downsizing, viewing it as the most viable
path to recover value, though a full repayment remains unlikely,
the report states.

                 About Freebird Stores Inc.

Freebird Stores Inc. creates original, handcrafted and exclusive
boots.


GALWAY BORROWER: Cliffwater CLF Marks $503,000 Loan at 19% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $503,553
loan extended to Galway Borrower, LLC to market at $409,272 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 Revolver Loan to Galway Borrower, LLC.
The loan accrues interest at a rate of 8.80% per annum. The loan
matures on September 29, 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 Galway Borrower, LLC

Galway Borrower, LLC is a subsidiary of Galway Holdings, a
financial services provider in insurance, technology, and
consulting that powers profit and empowers people in global
business.


GALWAY BORROWER: Cliffwater Corporate Marks $11MM Loan at 36% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$11,045,856 loan extended to Galway Borrower, LLC to market at
$7,017,172 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 Galway Borrower, LLC.
The loan accrues interest at a rate of 8.80% per annum. The loan
matures on September 30, 2028.

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

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

The Fund can be reach through:

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

            About Galway Borrower, LLC

Galway Borrower, LLC is a subsidiary of Galway Holdings, a
financial services provider in insurance, technology, and
consulting that powers profit and empowers people in global
business.


GALWAY BORROWER: Cliffwater Corporate Marks $3.9MM Loan at 94% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,996,447
loan extended to Galway Borrower, LLC to market at $236,110 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 Galway Borrower,
LLC. The loan accrues interest at a rate of 8.80% per annum. The
loan matures on September 29, 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 Galway Borrower, LLC

Galway Borrower, LLC is a subsidiary of Galway Holdings, a
financial services provider in insurance, technology, and
consulting that powers profit and empowers people in global
business.


GALWAY BORROWER: Cliffwater Corporate Marks $83.4MM Loan at 80% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$83,439,484 loan extended to Galway Borrower, LLC to market at
$16,504,882 or 20% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Galway Borrower, LLC.
The loan accrues interest at a rate of 8.82% per annum. The loan
matures on September 29, 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 Galway Borrower, LLC

Galway Borrower, LLC is a subsidiary of Galway Holdings, a
financial services provider in insurance, technology, and
consulting that powers profit and empowers people in global
business.


GESTION ABS: Cliffwater Corporate Marks $14.9MM 1L Loan at 31% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
CAD14,925,000 loan extended to Gestion ABS Bidco, Inc. to market at
CAD10,261,017 or 69% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a First Lien Term Loan to Gestion ABS
Bidco, Inc. The loan accrues interest at a rate of 8.02% per annum.
The loan matures on March 1, 2031.

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

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

The Fund can be reach through:

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

           About Gestion ABS Bidco, Inc.

Gestion ABS Bidco, Inc. provides financial solutions and services.


GESTION ABS: Cliffwater Corporate Marks $2.2MM Loan at 95% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
CAD2,250,000 loan extended to Gestion ABS Bidco, Inc. to market at
CAD108,728 or 5% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Gestion ABS Bidco,
Inc. The loan accrues interest at a rate of 8.02% per annum. The
loan matures on March 1, 2031.

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

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

The Fund can be reach through:

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

        About Gestion ABS Bidco, Inc.

Gestion ABS Bidco, Inc. provides financial services.


GRANT ANTIQUES: Court Extends Cash Collateral Access to Aug. 11
---------------------------------------------------------------
Grant Antiques, Inc. received second interim approval from the U.S.
Bankruptcy Court for the Middle District of Florida to use cash
collateral.

The order authorized the Debtor's interim use of cash collateral
until August 11 in accordance with its budget.

The Debtor projects total operational expenses of $45,241.96 for
July and $45,167.90 for August.

As adequate protection, creditors including the U.S. Small Business
Administration, CFG Merchant Solutions, and a third creditor via
Corporation Service Co., will receive replacement liens on
post-petition property.

In addition, the Debtor will continue to make monthly payments of
$731 to SBA; $667 to CFG; and $1,000 to the Subchapter V trustee.
The payments started on June 16.

The next hearing is scheduled for August 11.

SBA and the other secured creditors claim a security interest in
the Debtor's assets. However, SBA is in first priority and has a
lien on all of the Debtor's assets including accounts, receivables,
furniture, fixtures and equipment, and has the priority over all
other creditors. The agency is owed approximately $140,000.

The estimated value of the secured assets at the time of the filing
of the case was
approximately $275,000.

                About Grant Antiques Inc.

Grant Antiques Inc. operates as an antique mall offering a wide
range of antiques, collectibles, and vintage items. The Company is
based in Grant, Florida, with additional presence in Fort Pierce,
Florida. It is registered as a Florida corporation and serves
antique enthusiasts through its multiple dealer booths and
consignment sales.

Grant Antiques Inc.sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02931) on May 15,
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 Grace E. Robson handles the case.

The Debtors are represented by Brian K. McMahon, Esq. at BRIAN K.
MCMAHON, PA.


GREEN TERRACE: Daniel Stermer Appointed as Chapter 11 Trustee
-------------------------------------------------------------
Mary Ida Townson, the U.S. Trustee for Region 21, appointed Daniel
Stermer of Development Specialists, Inc. as Chapter 11 trustee for
Green Terrace Condominium Association, Inc.

The appointment was made pursuant to the order from the U.S.
Bankruptcy Court for the Southern District of Florida on June 4.

The Chapter 11 trustee can be reached at:

     Daniel J. Stermer
     Development Specialists, Inc.
     500 E. Broward Boulevard, Suite 1700
     Fort Lauderdale, FL 33394
     (305)374-2717

            About Green Terrace Condominium Association

Green Terrace Condominium Association, Inc. is a not-for-profit
corporation established in 1973 that manages Green Terrace
Condominiums, a two-story residential complex in West Palm Beach,
Florida. The association oversees amenities including a community
pool, clubhouse, and parking, and permits rentals under specific
restrictions.

Green Terrace Condominium Association sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-14568)
on April 25, 2025. In its petition, the Debtor reported estimated
assets between $500,000 and $1 million and estimated liabilities
between $1 million and $10 million.

Judge Mindy A. Mora handles the case.

The Debtor is represented by Michael J. Niles, Esq., at Berger
Singerman, LLP.

Boken Lending II, LLC, as lender, is represented by:

   Matthew S. Kish, Esq.
   Shapiro, Blasi, Wasserman & Hermann, P.A.
   7777 Glades Road, Suite 400
   Boca Raton, FL 33434
   Phone: 561.477.7800
   mkish@sbwh.law


GREENE COUNTY WATER: S&P Lowers 2021 Revenue Bond Rating to 'BB'
----------------------------------------------------------------
S&P Global Ratings lowered its long-term rating to 'BB' from 'BBB-'
on the Greene County Water and Sewer Authority, Ala.'s series 2021
water and sewer revenue bonds.

The outlook is negative.

The rating action reflects S&P's view of the authority's inability
to effectively adopt and implement timely and sufficient rate
increases to maintain stable coverage and cash.

S&P said, "We believe the authority's risks related to natural
capital are elevated given the water loss of 20 to 30% and the
service area's vulnerability to significant weather events such as
tornadoes in recent years. Partly mitigating these risks, in our
view, is the authority's water meter replacement project, which is
roughly 90% complete and which, when completed by the end of
calendar 2025, should lower water loss to 10% to 15% and increase
revenue. Management reports that the authority is not facing any
regulatory or environmental issues that would require additional
needs. Social risks negatively affect our analysis given that
median household effective buying income is significantly below the
national average, the county's poverty rate is about 31%, and the
average monthly residential bill represents about 1.46% of median
household effective buying income. Although rates are somewhat
manageable, we foresee possible affordability pressures given
potential rate increases, which are necessary to stabilize
financial operations. Last, we consider the authority's governance
factors elevated given several years of notices of failure to file
annual financial reports (2022, 2023, and 2024) coupled with
resistance to raising rates to offset further financial
deterioration.

"The negative outlook reflects our view that there is a
one-in-three chance that we could lower the rating should the
authority be unable or unwilling to implement substantive actions,
which include recommended rate increases, to stabilize its
financial position and restore coverage and cash to levels that are
stable and in line with its rate covenant in a timely manner, while
managing rising operational costs as well as any unforeseen costs
related to near-term capital projects.

"If the authority is unable to generate increased revenue
sufficient to cover rising expenditures, or if the authority were
to experience any unforeseen operational or capital expenditures
and use already nominal available reserves to bridge the
imbalances, causing coverage and cash to further erode, we could
lower the rating, potentially by multiple notches.

"Conversely, if the authority were to implement swift and
meaningful measures to improve cash and coverage levels on a
sustained basis, stabilizing overall financial operations, while
addressing increased costs and ongoing capital needs amid positive
movement in economic indicators, we could raise the rating."



GROOMORE INC: Seeks to Extend Plan Filing Deadline to August 20
---------------------------------------------------------------
GrooMore, Inc. asked the U.S. Bankruptcy Court for the District of
Delaware to extend its period to file a chapter 11 plan of
reorganization to August 20, 2025.

The Debtor claims that the timing of the Injunctive Relief Hearing
was outside of the Debtor's control. Judge Hsu's decision to set
the Injunctive Relief Hearing in July will significantly impact the
Chapter 11 Case, where the dispute with Moement is presently a
central component to any Plan, and where the Debtor's sole
representative will be distracted by preparing for the hearing in
the Injunctive Relief Hearing and will be unable to participate in
the daily requirements of preparing the Plan and prosecution the
confirmation of such plan.

The Debtor explains that it has not been dilatory in formulating
the Plan. The Debtor successfully resolved the critical vendor
issue with Moement, which was a significant dispute in Chapter 11
Case. The Debtor has also gone through great lengths in beginning
to put together the financials which are necessary for a Plan.

However, based on the time and attention the Debtor and Mr. Lin
have already expended on disputes with Moement in the Chapter 11
Case and the Trade Secret Litigation, and the time and attention
that will be required to prepare the Injunctive Relief Hearing with
Mr. Lin's lack of availability while preparing for such hearing,
the Debtor does not believe it will be able to file a Plan by the
Plan Filing Deadline.

Moreover, attempting to file a Plan by the Plan Filing Deadline may
also not be an efficient use of the Debtor's limited resources
because Moement will likely oppose any Plan filed by the Debtor.

The Debtor notes that because the Injunctive Relief Hearing is now
scheduled to begin on July 18, 2025, it also makes economic sense
to extend the Plan Filing Deadline because the outcome of the
Injunctive Relief Hearing, including, without limitation, a ruling
on post-petition injunctive relief (if any) of the Debtor to
Moement, will influence the treatment of Moement's claims, and the
Debtor's ability to operate, under a Plan.

GrooMore Inc., is represented by:

     PASHMAN STEIN WALDER HAYDEN, P.C.
     Joseph C. Barsalona II, Esq.
     Richard W. Riley, Esq.
     824 North Market Street, Suite 800
     Wilmington, DE 19801
     Telephone: (302) 592-6496
     Email: jbarsalona@pashmanstein.com
            rriley@pashmanstein.com

     -and-

     Katherine R. Beilin, Esq.
     Court Plaza South, East Wing
     21 Main Street, Suite 200
     Hackensack, NJ 07601
     Telephone: (201) 488-8200
     Email: kbeilin@pashmanstein.com

                          About GrooMore Inc.

GrooMore Inc., a company based in Atlanta, Ga., operates a
cloud-based pet grooming software platform providing scheduling,
payment processing, and business management solutions for pet
grooming businesses.

GrooMore sought relief under Subchapter V of Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 25-10018) on January 9,
2025. In its petition, the Debtor reported assets between $100,000
and $500,000 and estimated liabilities between $500,000 and $1
million.

Joseph C. Barsalona II, Esq., at Pashman Stein Walder Hayden, P.C.
represents the Debtor as legal counsel.


HBWM INTERMEDIATE: Cliffwater Corporate Marks $3.6M Loan at 68% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,643,839
loan extended to HBWM Intermediate II, LLC to market at $1,158,953
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 Revolver Loan to HBWM Intermediate II,
LLC. The loan accrues interest at a rate of 8.82% per annum. The
loan matures on November 15, 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 HBWM Intermediate II, LLC

HBWM Intermediate II, LLC is an entity that was indirectly involved
in a transaction where TPG Growth acquired a minority voting
ownership interest in HB Wealth Management, LLC.


HEALTHSTAR FAMILY: Seeks Subchapter V Bankruptcy in Texas
---------------------------------------------------------
On June 26, 2025, Healthstar Family Rehab Center LLC filed Chapter
11 protection in the U.S. Bankruptcy Court for the Western District
of Texas. According to court filing, the Debtor reports between
$500,000 and $1 million in debt owed to 1 and 49 creditors. The
petition states funds will be available to unsecured creditors.

           About Healthstar Family Rehab Center LLC

Healthstar Family Rehab Center LLC is a Medicare-certified
outpatient rehabilitation facility providing speech, physical, and
occupational therapy services to children and adults.

Healthstar Family Rehab Center LLC sought relief under Subchapter V
of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case
No. 25-30803) on June 26, 2025. In its petition, the Debtor reports
estimated assets up to $50,000 and estimated liabilities between
$500,000 and $1 million.

Honorable Bankruptcy Judge Christopher G. Bradley handles the
case.

The Debtors are represented by Robert Chamless Lane, Esq. at The
Lane Law Firm PLLC.


HEART 2 HEART: Seeks to Extend Plan Exclusivity to October 28
-------------------------------------------------------------
Heart 2 Heart Volunteers, Inc. d/b/a Serenity Hills Life Center
asked the U.S. Bankruptcy Court for the Northern District of West
Virginia to extend its exclusivity periods to file a plan of
reorganization and obtain acceptance thereof to October 28 and
December 27, 2025, respectively.

The Debtor explains that it has numerous secured creditors for
which it anticipates a need to negotiate pursuant to a Chapter 11
Plan of Reorganization, while the case, on its face, may seem
simple. Further, the Debtor is in the process of investigating all
proof of claims filed in this case and considering whether an
objection may be appropriate.

The Debtor claims that it can evidence good faith progress towards
reorganization. The Debtor has been in discussions with a potential
chief restructuring officer and the Debtor believes it is
approaching the final stages of contract negotiations on this
point. A chief restructuring officer would aid the Debtor
tremendously in its pursuit of a Plan of Reorganization by helping
the Debtor find productive ways to increase revenue, expand patient
care, and ensure internal policies are optimized.

The Debtor asserts that no creditor has contacted the Debtor to
allege any failure to bills as timely due. In connection with its
present ability to pay bills as due, the Debtor has a viable path
toward reorganization. The hiring of a chief restructuring officer
further cements this, as the Debtor is negotiating with an
individual with extensive experience in the rehabilitative and
treatment sector of healthcare.

Further, as of the date of filing, the case is less than six months
old. This is the first request of the Debtor, as the Debtor
continues to work in good faith and remains focused on facilitating
a successful reorganization.

Finally, not only is the Debtor seeking this extension request in
good faith, and not to place any pressure on creditors, the
Debtor's creditors will not be prejudiced by the requested
extension; on the contrary, the Debtor's creditors will be best
served with an extension of the Exclusivity Periods, as it will
help ensure the plan proposed by the Debtor is a realistic Chapter
11 Plan of Reorganization that is capable of being substantially
consummated.

Heart 2 Heart Volunteers Inc. is represented by:

     Kirk B. Burkley, Esq.
     Bernstein-Burkley, PC
     601 Grant Street, 9th Floor
     Pittsburg, PA 15219
     Telephone: (412) 456-8100
     Email: kburkley@bernsteinlaw.com

                  About Heart 2 Heart Volunteers Inc.

Heart 2 Heart Volunteers Inc., doing business as Serenity Hills
Life Center, operates three addiction recovery centers and
treatment facilities.

Heart 2 Heart Volunteers sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D.W. Va. Case No. 25-00087) on February
27, 2025. In its petition, the Debtor reported between $1 million
and $10 million in both assets and liabilities.

Judge David L. Bissett oversees the case.

The Debtor is represented by Kirk B. Burkley, Esq., at
Bernstein-Burkley, P.C.

Deborah L. Fish is the patient care ombudsman appointed in the
Debtor's Chapter 11 case.


HIGGINBOTHAM INSURANCE: Cliffwater CLFX Marks $1.9M Loan at 59% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,939,962
loan extended to Higginbotham Insurance Agency, Inc. to market at
$797,324 or 41% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Higginbotham
Insurance Agency, Inc. The loan accrues interest at a rate of 9.07%
per annum. The loan matures on November 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 Higginbotham Insurance Agency, Inc.

Higginbotham is an independent insurance brokerage firm that
provides businesses and individuals with insurance, financial
services, risk management and employee benefit services.


HIGGINBOTHAM INSURANCE: Cliffwater CLFX Marks $19MM Loan at 59% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$19,471,879 loan extended to Higginbotham Insurance Agency, Inc. to
market at $8,074,632 or 41% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Higginbotham
Insurance Agency, Inc. The loan accrues interest at a rate of 9.07%
per annum. The loan matures on November 25, 2028.

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

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

The Fund can be reach through:

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

      About Higginbotham Insurance Agency, Inc.

Higginbotham is an independent insurance brokerage firm that
provides businesses and individuals with insurance, financial
services, risk management and employee benefit services.


HIGHPEAK ENERGY: S&P Assigns 'B' ICR, Outlook Stable
----------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to
HighPeak Energy Inc. (HPK).

S&P said, "At the same time, we assigned our 'B+' issue-level
rating and '2' recovery rating to the proposed senior notes. The
recovery rating of '2' indicates our expectation for substantial
(70%-90%; rounded estimate: 85%) recovery of principal in the event
of payment default.
"The outlook is stable, reflecting our expectation that the company
will maintain funds from operations (FFO) to debt of 50%-55% over
the next 12 months and maintain adequate liquidity while keeping
production relatively flat over the next two years."

HPK, a public oil and natural gas exploration and production (E&P)
company focused in the Permian basin, has launched an offering of
$725 million of senior unsecured notes due 2030. S&P expects it to
use proceeds to repay its existing term loan and super priority
revolving credit facility.

S&P expects HPK to secure a new $720 million reserve-based lending
(RBL) facility maturing in 2029.

S&P said, "The 'B' rating reflects HPK's size and scale in the
Permian basin, high liquids production content, and strong
financial measures. We expect HPK will use net proceeds from its
debt offering to refinance its existing $1.08 billion term loan.
Additionally, we expect the company to replace its existing $100
million credit facility with a new $720 million reserve-based
credit facility (approximately $358 million available at close)."

The rating reflects HPK's low leverage and expected maintenance
production levels. HPK's 2024 production was around 50,000 barrels
of oil equivalent per day (boe/d), and S&P expects the company's
2025 production to be down slightly toward 48,000-50,000 boe/d in
2025 as HPK turns its focus on free cash flow generation from
production growth.

Importantly, HPK's production consists primarily of liquids, with
oil and natural gas liquids (NGLs) accounting for 72% and 15%,
respectively, of first quarter 2025 production. The high liquids
content in HPK's barrels provides for superior margins and
profitability compared with peers whose barrels contain more
natural gas. Nonetheless, S&P believes its smaller production and
reserve base, as well as its concentration in a single basin,
compare less favorably to higher-rated peers.

HPK continues to benefit from its acreage position. The company has
approximately 143,000 net acres in the Midland basin of the
Permian. Its large, contiguous blocks of acreage in Flat Top (north
of Howard County and into Borden County) and Signal Peak to the
south (Howard County), enables the company to drill lateral wells
over 12,000 feet.

In 2025, S&P believes HPK will turn-in-line 52-56 wells with a
lateral length of approximately 13,500 feet, utilizing 1.5 rigs and
one frac crew. The company states that it has over 2,700 undrilled
locations and over 1,000 of those locations have a breakeven of
less than $50 per barrel (bbl) of oil and $3.00 per thousand cubic
foot (mcf) of natural gas.

Additionally, HPK continues to drive down its costs with total cash
costs of $11.61/boe in 2024, compared to $13.25/boe in 2023. Cash
costs were up slightly in the first quarter at $11.94/boe,
reflecting increased infrastructure initiatives. S&P said, "The
company's capital spending on one-time infrastructure projects
should end in the first-half of 2025, and we expect lower
maintenance capital levels to increase free cash flow in 2025 and
2026. As a result, we forecast free operating cash flow will
increase to about $180 million-$230 million annually through 2026,
from about $70 million in 2024, under our current price deck."

S&P said, "We expect credit measures to remain strong and liquidity
to be adequate. We expect FFO to debt to average around 50%-55% and
debt to EBITDA around 1.0x-1.5x over the next two years. The
company has a stated leverage target of below 1x. We expect HPK to
generate free cash flow in 2025, which will provide more financial
flexibility and be used to reduce debt on its credit facility. HPK
is more than 50% hedged on oil and about 65% hedged for natural gas
in 2025. The new credit facility requires a minimum of 50% of
proved developed producing (PDP) volumes to be hedged through the
first 18 months.

"The stable outlook reflects our expectation that HPK will maintain
financial policies that support consistent production levels while
generating positive free cash flow. Over the next 12 months we
expect FFO to debt to average around 55% while debt to EBITDA
averages 1x-1.5x.

"We could lower the rating if FFO to debt declines below 30% or
liquidity weakens. This could occur if HPK pursues a financial
policy more aggressive than we anticipate, such as large
debt-financed acquisitions or debt-funded shareholder returns."

S&P could raise its rating on HPK if it:

-- Further expands its production and developed reserves to levels
comparable with those of higher-rated peers while maintaining FFO
to debt above 45%; and

-- Maintains at least adequate liquidity, with a lower proportion
of outstanding RBL borrowings relative to its capacity.


HPS SPECIALTY: Cliffwater Corporate Marks $187MM 1L Loan at 33% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$187,500,000 loan extended to HPS Specialty Loan Fund V Feeder,
L.P. to market at $125,313,250 or 67% 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 HPS Specialty
Loan Fund V Feeder, L.P. The loan accrues interest at a rate of
7.29% per annum. The loan matures on May 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 HPS Specialty Loan Fund V Feeder, L.P.

HPS Specialty Loan Fund V Feeder, L.P. is engaged in providing loan
products and services.


IEQ MIDCO: Cliffwater Corporate Marks $11.4MM Loan at 58% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$11,409,477 loan extended to IEQ Midco III, LLC  to market at
$4,784,803 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 IEQ Midco III,
LLC. The loan accrues interest at a rate of 8.69% 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 IEQ Midco III, LLC

IEQ Midco III, LLC provides wealth management and family office
services to high-net-worth and ultra-high-net-worth individuals.  


INTEGRITY MARKETING: Cliffwater CLFX Marks $50.7MM Loan at 40% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$50,763,254 loan extended to Integrity Marketing Acquisition, LLC
to market at $30,215,186 or 60% 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 Integrity
Marketing Acquisition,
LLC. The loan accrues interest at a rate of 9.31% per annum. The
loan matures on August 27, 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 Integrity Marketing Acquisition, LLC

Integrity Marketing Acquisition, LLC --
https://www.integritymarketing.com/ -- is a one-of-a-kind insurtech
company, using data, technology and a human touch to deliver a
better insurance experience.


INTRUM AB: Seeks to Extend Plan Exclusivity to September 15
-----------------------------------------------------------
Intrum AB and Intrum AB of Texas LLC 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 15 and November 14, 2025,
respectively.

The Debtors explain that these chapter 11 cases are extremely
complex, and the size of their capital structure means the Debtors
must navigate a number of complex issues to implement the Plan.
There is no question that the Debtors' capital structure, which as
of the Petition Date consisted of approximately $4.85 billion of
funded debt, is large and complex, and the Debtors have obligations
to a tremendous number of stakeholders across the globe. Thus, the
size and complexity of these chapter 11 cases alone provides
sufficient cause for the Court to extend the Exclusivity Periods.

Since the Petition Date, the Debtors have made substantial progress
in negotiating with their stakeholders and administering these
chapter 11 cases, which warrants a further extension of the
Exclusivity Periods. The Debtors' substantial progress in working
with their creditors and administering their cases to this point
support the extension of the Exclusivity Periods.

The Debtors claim that they seek to maintain exclusivity so parties
with competing interests do not impede the Debtors' pursuit of
emergence from these chapter 11 cases. Extending the Exclusivity
Periods benefits all parties in interest by preventing the drain on
time and resources that inevitably occurs when multiple parties
with potentially diverging interests vie for the consideration of
their own respective plans. All stakeholders benefit from continued
stability and predictability that a central process provides, which
can only occur while the Debtors remain the sole plan proponents.

The Debtors assert that they are not seeking an extension of the
Exclusivity Periods as a negotiation tactic, to artificially delay
the conclusion of these chapter 11 cases, or to hold creditors
hostage to an unsatisfactory plan proposal. Accordingly, the
Debtors are not seeking an extension of the Exclusivity Periods to
pressure their creditors or other parties in interest, but to
provide sufficient time out of an abundance of caution for the
Debtors to implement the transactions contemplated in the Plan and
emerge without the disruption and distraction created by competing
plan proposals.

The Debtors further assert that they have paid their postpetition
debts in the ordinary course of business or as otherwise provided
by Court order and have secured final approval for their use of
Cash Collateral. The Debtors will continue to pay their bills in
the ordinary course of business as they become due and owing.

Counsel to the Debtors:               

                       Jaimie Fedell, Esq.
                       Dennis F. Dunne, Esq.
                       MILBANK LLP
                       55 Hudson Yards
                       New York, NY 10001
                       Tel: (212) 530-5000
                       Fax: (212) 530-5219
                       Email: ddunne@milbank.com
                              jfedell@milbank.com

                         -and-

                       Andrew M. Leblanc, Esq.
                       Melanie Westover Yanez, Esq.
                       MILBANK LLP
                       1850 K Street, NW, Suite 1100
                       Washington, DC 20006
                       Tel: (202) 835-7500
                       Fax: (202) 263-7586
                       Email: aleblanc@milbank.com
                              mwyanez@milbank.com

                       -and-

                       John F. Higgins, Esq.
                       M. Shane Johnson, Esq.
                       PORTER HEDGES LLP              
                       1000 Main Street, 36th Floor
                       Houston TX 77002
                       Tel: (713) 226-6000
                       Fax: (713) 226-6248
                       Email: jhiggins@porterhedges.com
                              sjohnson@porterhedges.com

                          About Intrum AB

Intrum AB is a provider of credit management services with a
presence in 20 markets in Europe. By helping companies to get paid
and supporting people with their late payments, Intrum leads the
way to a sound economy and plas a critical role in society at
large. Intrum has circa 10,000 dedicated professionals who serve
around 80,000 companies across Europe. In 2023, income amounted to
SEK 20.0 billion. Intrum is headquartered in Stockholm, Sweden and
publicly listed on the Nasdaq Stockholm exchange. On the Web:
www.intrum.com/

On November 15, 2024, Intrum AB and U.S. affiliate Intrum AB of
Texas LLC each filed a voluntary petition for the relief under
Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the Southern District of Texas (Bankr.
S.D. Tex. Lead Case No. 24-90575) to seek confirmation of their
Prepackaged Reorganization Plan.

The cases are pending before the Honorable Christopher M. Lopez.

Milbank LLP and Porter Hedges LLP are serving as counsel in the
U.S. restructuring. Houlihan Lokey is the advisor to Intrum. Kroll
Issuer Services Limited is the information agent. Kroll
Restructuring Administration is the claims agent. Brunswick Group
is also serving as advisers to Intrum.

Latham & Watkins LLP and Latham & Watkins (London) LLP, and
Advokatfirmaet Schjodt AS, are advising a group of bondholders
holding widely across Intrum AB's notes issuances (the "Notes Ad
Hoc Group"). PJT Partners (UK) Limited is financial advisor to the
noteholder ad hoc group.

Weil Gotshal & Manges LLP is representing a group of short-dated
bondholders holding primarily 2024- and 2025-maturing notes
("Minority Ad Hoc Group").

Ropes & Gray LLP is representing another minority group of
bondholders.

Clifford Chance US LLP is counsel to the group that collectively
holds approximately 76 percent of the total commitments under the
RCF (the "RCF Steerco Group").


J.S. HELD: Cliffwater Corporate Marks $3.4 Million Loan at 73% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,467,864
loan extended to J.S. Held Holdings LLC to market at $921,206 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 J.S. Held Holdings
LLC. The loan accrues interest at a rate of 9.95% per annum. The
loan matures on June 1, 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 J.S. Held Holdings LLC

J.S. Held Holdings LLC is a global consulting firm providing
specialized technical, scientific, financial, and advisory
services.


J2KE INC: Seeks to Hire Tittle Law Firm PLLC as Counsel
-------------------------------------------------------
J2KE Inc. seeks approval from the U.S. Bankruptcy Court for the
Northern District of Texas to employ Tittle Law Firm, PLLC as
counsel.

The firm will provide these services:

     a. provide legal advice with respect to the Debtor's powers
and duties as debtor-in-possession in the continued operation of
its business and the management of its property;

     b. take all necessary action to protect and preserve the
Debtor's estate, including the prosecution of actions on behalf of
the Debtor, the defense of any actions commenced against the
Debtor, negotiations concerning litigation in which the Debtor is
involved, and objections to claims filed against the Debtor's
estates;

     c. prepare on behalf of the Debtor necessary motions, answers,
orders, reports, and other legal papers in connection with the
administration of its estate;

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

     e. perform any and all other legal services for the Debtor in
connection with the Debtor's Chapter 11 Case; and

     f.  perform such legal services as the Debtor may request with
respect to any matter, including, but not limited to, corporate
finance and governance, contracts, antitrust, labor, and tax.  

The firm will be paid at the rate of $625 per hour.

The firm received from the Debtor a retainer of $20,000.

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

Brandon J. Tittle, Esq., a partner at Tittle Law Firm, 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:

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

              About J2KE Inc.

J2KE Inc. operates a Scooter's Coffee franchise located at 2137 W.
Washington St., Stephenville, Texas 76401.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42129-elm11) on June
11, 2025. In the petition signed by Kelly Dortch, member, the
Debtor disclosed up to $500,000 in assets and up to $1 million in
liabilities.

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



JACKSON HOSPITAL: Bid Deadline Moved to July 3
----------------------------------------------
Jackson Hospital & Clinic, Inc. and JHC Pharmacy, LLC will continue
to accept bids for the debtors' assets until July 3, 2025.

The Debtors have extended the Bid Deadline from June 30, 2025, at
4:00 p.m. (CT) to July 3 at 4:00 p.m. (CT).

The Court has already entered an Order (I) Scheduling a Hearing to
Consider Approval of the Sale or Sales of Substantially All Assets
of Jackson Hospital & Clinic, Inc. and JHC Pharmacy, LLC and the
Assumption and Assignment of Certain Executory Contracts and
Unexpired Leases, (II) Approving Certain Bidding Procedures,
Assumption and Assignment Procedures, and the Form and Manner of
Notice Thereof, (III) Establishing Procedures in Connection With
the Selection of and Protections Afforded to Any Stalking Horse
Purchasers, and (IV) Granting Related Relief.

              About Jackson Hospital & Clinic Inc.

Jackson Hospital & Clinic, Inc. is a non-membership, non-profit
corporation based in Alabama. JHC is the direct or indirect parent
company of JHC Pharmacy, LLC, an Alabama limited liability company
that provides pharmacy services to JHC patients. JHC owns 100% of
JHC Pharmacy. Additionally, JHC is a direct or indirect parent
company of certain other entities that have not filed for
bankruptcy.

JHC operates a 344-bed healthcare facility in Montgomery, Ala.,
with a rich history dating back to 1894. Since its official opening
in 1946, JHC has grown into one of the largest hospitals in
Alabama, offering specialized services in cardiac care, cancer
treatment, neurosciences, orthopedics, women's care, and emergency
services. JHC's service area includes 16 counties across central
Alabama.

JHC and JHC Pharmacy filed Chapter 11 petitions (Bankr. M.D. Ala.
Lead Case No. 25-30256) on February 4, 2025. In its petition, JHC
reported between $100 million and $500 million in both assets and
liabilities.

Judge Christopher L. Hawkins handles the cases.

The Debtors are represented by Derek F. Meek, Esq. at Burr &
Forman, LLP.  Ronald Dreskin, principal of Eisner Advisory Group
LLC, serves as Interim CEO; and SSG Advisors, LLC serves as
investment banker.

The official committee of unsecured creditors tapped FTI
Consulting, Inc. as its financial advisors; and Rumberger, Kirk &
Caldwell, P.C. and Sills Cummis & Gross P.C. as co-counsel.

Suzanne Koenig of SAK Healthcare serves as patient care ombudsman.


JND TROPICS: Christopher Simpson Named Subchapter V Trustee
-----------------------------------------------------------
The U.S. Trustee for Region 14 appointed Christopher Simpson, Esq.,
at Osborn Maledon P.A. as Subchapter V trustee for JND Tropics,
LLC.

Mr. Simpson will be paid an hourly fee of $495 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Christopher C. Simpson
     Osborn Maledon, P.A.
     2929 N. Central Avenue, 21st Fl.
     Phoenix, AZ 85012
     Phone: (602) 640-9349
     Fax: (602) 640-9050
     Email: csimpson@omlaw.com

                       About JND Tropics LLC

JND Tropics, LLC filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. D. Ariz. Case No. 25-05356) on June 12,
2025, with $1 million to $10 million in assets and liabilities.
Daniel Rudolph, member, signed the petition.

Judge Madeleine C. Wanslee presides over the case.

Michael Carmel, Esq., at Michael W. Carmel, Ltd. represents the
Debtor as legal counsel.


JSG I INC: S&P Places 'B-' ICR on CreditWatch Negative
------------------------------------------------------
S&P Global Ratings placed all of its ratings on safety products
manufacturer JSG I Inc., including the 'B-' issuer credit rating,
on CreditWatch with negative implications.

The CreditWatch listing signals the potential for lower ratings if
the company is not successful in addressing its maturities within
the next few months.

The CreditWatch placement reflects heightened refinancing risk
given all of JSG's debt is now current. JSG I Inc.'s $35 million
RCF matures March 29, 2026, and its $594.5 million of first-lien
term loans mature June 28, 2026. S&P said, "We believe the company
is looking to address its maturities; however, we view risks of
successfully addressing its maturities as heightened given time to
maturity."

S&P said, "While refinancing risks are heightened in our view, we
note relatively stable operating performance. The company saw
revenue increase by 5.8% year over year in the first quarter of
2025 after lower orders and volumes in 2024. We forecast modest
growth will continue through 2025, supported by contributions from
the company's recent acquisition of Australia-based safety and
spill containment manufacturer Global Spill (closed on Jan. 7,
2025), and our assumption for volume gains from new products
introduced in 2024 and expected to launch in 2025. Moreover,
despite our expectation for working capital to be a cash outflow in
2025 to support growth, we believe the company will generate good
levels of FOCF.

"The CreditWatch listing with negative implications reflects the
potential we could lower ratings in the next few months if we do
not believe JSG can successfully refinance its upcoming maturities
in a manner we do not view as tantamount to a default. In resolving
the CreditWatch listing, we will monitor the company's progress in
addressing its maturities."



JUBILEE HOSPITALITY: Seeks Chapter 11 Bankruptcy in New York
------------------------------------------------------------
On June 26, 2025, Jubilee Hospitality ILP Inc.filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District of
New York. According to court filing, the Debtor reports 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 Jubilee Hospitality ILP Inc.

Jubilee Hospitality ILP Inc. is a family-owned and operated company
that runs DaVinci's, a restaurant in Island Park, New York,
offering Italian-American cuisine such as pizza, pasta, and other
traditional dishes. The establishment features a separate pizzeria,
a full-service bar and dining area, and a catering space for
private events.

Jubilee Hospitality ILP Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72506) on June
26, 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 Alan S. Trust handles the case.

The Debtors are represented by Richard J. McCord, Esq. at CERTILMAN
BALIN ADLER & HYMAN, LLP.


JWANIGATUNGA LLC: Section 341(a) Meeting of Creditors on July 21
----------------------------------------------------------------
On June 25, 2025, JWanigatunga 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 $100,000
and $500,000 in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

A meeting of creditors under Section 341(a) to be held on July 21,
2025 at 10:00 AM via UST Teleconference, Call in number/URL:
1-877-991-8832 Passcode: 4101242.

           About JWanigatunga LLC

JWanigatunga LLC is a single asset real estate company that owns
property in San Francisco.

JWanigatunga LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-30492) on June 25,
2025. In its petition, the Debtor reports estimated assets between
$500,000 and $1 million and estimated liabilities between $100,000
and $500,000.

The Debtors are represented by Jeffrey B. Neustadt, Esq. at Law
Offices Of Jeffrey Neustadt.


KC PET: Gets Interim OK to Use Cash Collateral
----------------------------------------------
KC Pet, Inc. received interim approval from the U.S. Bankruptcy
Court for the District of Minnesota to use cash collateral pending
the final hearing set for July 10.

The interim order authorized the Debtor to utilize cash collateral
in accordance with the terms of the projections it filed with the
court except for dues, subscriptions and franchise fees, which will
not be paid before the final hearing.

As protection for any diminution in the value of their collateral,
Old National Bank and other secured creditors will be granted
replacement liens on post-petition assets of the Debtor, with the
same dignity, priority and effect as their pre-bankruptcy liens.
The replacement liens do not apply to any Chapter 5 causes of
action.

As additional protection to Old National Bank, the Debtor was
ordered to pay $2,000 per month to the bank beginning this month.

The Debtor's secured creditors include Old National Bank, which is
owed $750,000 on an SBA loan secured by all of its personal
property, and Quickbridge Funding, with a $36,562 claim. The Debtor
estimates it had approximately $31,226 in liquid cash collateral as
of the petition date and expects that to vary between $27,500 and
$47,000 over the 13-week projection period.

                        About KC Pet Inc.

KC Pet, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 25-41990) on June 18,
2025. In the petition signed by Kristina Clay, president and owner,
the Debtor disclosed up to $500,000 in assets and up to $1 million
in liabilities.

Judge Katherine A. Constantine oversees the case.

Mary Sieling, Esq., at Sieling Law, PLLC, represents the Debtor as
legal counsel.



KOHLBERG KINETIC: Cliffwater Corporate Marks $4.3MM Loan at 28% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,322,971
loan extended to Kohlberg Kinetic Borrower, LP to market at
$3,121,360 or 72% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Kohlberg Kinetic
Borrower, LP. The loan accrues interest at a rate of 9.82% per
annum. The loan matures on December 26, 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 Kohlberg Kinetic Borrower, LP

Kohlberg Kinetic Borrower, LP has been investing to unlock growth
and create value through transformational strategies for nearly
four decades.


KUBOTA OF KNOXVILLE: Hires Alpine Capital International as Broker
-----------------------------------------------------------------
Kubota Of Knoxville, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Tennessee to employ Alpine
Capital International, LLC as broker.

The firm will assist the Debtor in the sale of its assets and
business.

The firm will be paid at the rate of 4 percent of the total
purchase price up to $1,500,000 and 3 percent of any part of the
next $1,500,000, and 2 percent of any part thereafter. Prior to the
petition date, the firm received a monthly retainer of $5,000 for
10 months for its services and $96.63 for reimbursement of
expenses.

Peter Stefanovits, a partner at Alpine Capital International, LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Peter Stefanovits
     Alpine Capital International, LLC
     5805 State Bridge Rd. Suite G305
     Johns Creek, GA 30097
     Tel: (404) 213-7792

              About Kubota of Knoxville LLC

Kubota of Knoxville, LLC is a certified Kubota equipment dealership
based in Knoxville, Tennessee. The Company offers tractors, mowers,
utility vehicles, and farming implements, along with maintenance
and parts services. Founded in 2011, it serves customers across
East Tennessee.

Kubota of Knoxville sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31018) on May 27,
2025. In its petition, the Debtor reported estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.

The Debtor is represented by Lynn Tarpy, Esq., at Tarpy, Cox,
Fleishman & Leveille, PLLC.


L.D. LYTLE: Case Summary & Seven Unsecured Creditors
----------------------------------------------------
Debtor: L.D. Lytle Inc.
           Sunshine Kids Academy
           Sunshine Kids Academy Ferris
           Sunshine Kids Academy Red Oak
        1700 Cedar Run
        Ennis, TX 75119

Business Description: L.D. Lytle Inc., doing business as Sunshine
                      Kids Academy, operates early childhood
                      education and daycare centers in Texas.  The
                      Company provides childcare services at
                      locations in Ennis, Ferris, and Red Oak.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 25-32454

Judge: Hon. Michelle V Larson

Debtor's Counsel: Joyce Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  117 S. Dallas St.
                  Ennis TX 75119
                  Tel: (972) 503-4033
                  E-mail: joyce@joycelindauer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lisa Lytle as owner.

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

https://www.pacermonitor.com/view/UMABICI/LD_Lytle_Inc__txnbke-25-32454__0002.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/UAMDSLA/LD_Lytle_Inc__txnbke-25-32454__0001.0.pdf?mcid=tGE4TAMA


LFS TOPCO: Fitch Gives 'B-(EXP)' Rating on Sr. Unsecured Notes
--------------------------------------------------------------
Fitch Ratings expects to rate LFS TopCo, LLC's (Lendmark) upcoming
long-term senior unsecured notes issuance 'B-(EXP)' with a Recovery
Rating of 'RR4'. The notes are expected to mature in 2030. Proceeds
from the issuance are expected to be used for general corporate
purposes, including the repayment of outstanding unsecured and
secured debt.

Key Rating Drivers

The unsecured debt is expected to rank pari passu with Lendmark's
existing senior unsecured debt and, therefore, the expected rating
is equalized with its outstanding senior unsecured debt and
Long-Term Issuer Default Rating (IDR). The equalization reflects
average recovery prospects under a stress scenario given the
availability of unencumbered assets.

Fitch does not expect the debt issuance to have a meaningful impact
on the company's leverage profile as proceeds are primarily
expected to repay outstanding unsecured notes ahead of their
upcoming maturity, with excess amounts expected to repay
outstanding warehouse borrowings. Lendmark's leverage, calculated
as debt to tangible equity, was 18.7x at 1Q25, up from 17.4x at
1Q24. Including the loss reserve required under current expected
credit losses (CECL) accounting standards, debt to tangible equity
plus reserves was 6.0x at 1Q25, up from 5.7x at 1Q24.

Lendmark's rating reflects its modest but growing market position
in the U.S. personal installment lending industry, adequate
risk-adjusted yields, and manageable credit performance relative to
the rating level.

Lendmark's ratings are constrained by its monoline business model,
elevated leverage, higher risk appetite and subprime exposure, and
its partial private equity ownership. Private equity ownership
increases the risk of shareholder-friendly actions, such as the
dividend paid in excess of earnings and required tax distributions
in 4Q24.

RATING SENSITIVITIES

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

- Failure to address the outstanding unsecured notes prior to six
months of their maturity in October 2026;

- A reduction in capitalization levels such that tangible equity
(unadjusted for CECL) becomes negative;

- Sustained operating losses;

- Sustained deterioration in credit performance above Lendmark's
NCO target range of 8%-9%;

- Inability to access term funding for a prolonged period of 12-24
months;

- The imposition of new and more onerous regulations that
negatively impact Lendmark's ability to execute on its business
model.

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

- A sustained decline in leverage below 15x (unadjusted for CECL);

- A sustained improvement in credit performance with delinquencies
below 6% and NCOs within management's target range of 8%-9%;

- ROAA sustained above 1%;

- Maintenance of the proportion of unsecured funding above 5% of
total debt;

- Further diversification of the business model either through
product offering or geographical expansion.

DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS

The proposed unsecured debt is expected to rank pari passu with
Lendmark's existing senior unsecured debt, and therefore the
expected rating is equalized with its outstanding senior unsecured
debt rating. The senior unsecured debt rating is expected to be
equalized with the Long-Term IDR, reflecting Fitch's expectation of
average recovery prospects in a stress scenario.

DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES

The expected senior unsecured debt rating is primarily sensitive to
changes in the issuer's Long-Term IDR, and the ratings would be
expected to move in tandem. However, a material reduction in
unencumbered assets could result in notching between Lendmark's
Long-Term IDR and the rating on the unsecured notes.

ADJUSTMENTS

The Standalone Credit Profile (SCP) has been assigned below the
implied SCP due to the following adjustment reason: Weakest Link -
Capitalization & Leverage (negative).

The Business Profile score has been assigned below the implied
score due to the following adjustment reasons: Business model
(negative), Market position (negative).

The Asset Quality score has been assigned below the implied score
due to the following adjustment reason: Risk profile and business
model (negative).

The Earnings & Profitability score has been assigned below the
implied score due to the following adjustment reason: Portfolio
risk (negative).

The Funding, Liquidity & Coverage score has been assigned below the
implied score due to the following adjustment reasons: Divergent
Benchmarks (negative), Business model/funding market convention
(negative).

Date of Relevant Committee

16-Jun-2025

ESG Considerations

LFS TopCo, LLC has an ESG Relevance Score of '4' for Customer
Welfare - Fair Messaging, Privacy & Data Security due to the
importance of fair collection practices and consumer interactions
and the regulatory focus on them, which has a negative impact on
the credit profile and is relevant to the ratings in conjunctions
with other factors.

LFS TopCo, LLC has an ESG Relevance Score of '4' for Governance
Structure due to the presence of private equity ownership, which
has a negative impact on the credit profile and is relevant to the
ratings in conjunction with other factors.

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

   Entity/Debt             Rating                   Recovery   
   -----------             ------                   --------   
LFS TopCo, LLC

   senior unsecured     LT B-(EXP)  Expected Rating   RR4


LIDO ADVISORS: Cliffwater Corporate Marks $10.4MM Loan at 37% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$10,447,029 loan extended to Lido Advisors, LLC to market at
$6,550,473 or 63% 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 Lido Advisors,
LLC. The loan accrues interest at a rate of 9.30% per annum. The
loan matures on January 15, 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 Lido Advisors, LLC

Lido Advisors LLC provides comprehensive and private wealth
management strategies and advisory to high net worth individuals,
families, and charities.


LIDO ADVISORS: Cliffwater Corporate Marks $700,000 Loan at 33% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $700,000
loan extended to Lido Advisors, LLC to market at $471,579 or 67% 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 Lido Advisors, LLC.
The loan accrues interest at a rate of 9.86% per annum. The loan
matures on June 15, 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 Lido Advisors, LLC

Lido Advisors LLC provides comprehensive and private wealth
management strategies and advisory to high net worth individuals,
families, and charities.



LONG ISLAND INVESTMENT: Seeks Chapter 11 Bankruptcy in New York
---------------------------------------------------------------
On June 26, 2025, Long Island Investments 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 estimated
assets 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 Long Island Investments LLC

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

Long Island Investments LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72499) on June
26, 2025. In its petition, the Debtor reports estimated assets
between $500,000 and $1 million and estimated liabilities between
$1 million and $10 million.

Honorable Bankruptcy Judge Alan S. Trust handles the case.

The Debtors are represented by Robert L. Rattet, Esq. at DAVIDOFF
HUTCHER & CITRON LLP.


LOVING KINDNESS: Seeks to Extend Plan Exclusivity to October 21
---------------------------------------------------------------
Loving Kindness Healthcare Systems, LLC, asked the U.S. Bankruptcy
Court for the Western District of Pennsylvania to extend its
exclusivity periods to file a plan of reorganization and obtain
acceptance thereof to October 21 and December 20, 2025,
respectively.

Since the previous extension, the Debtor has made considerable
progress towards the filing of a successful Chapter 11 Plan. For
example, the Debtor reduced compensation for its officers in order
to hire a Chief Financial Officer (the "CFO").

The Debtor's accountant, Gloria Besley, has worked closely with the
various tax creditors to update the outstanding information due to
ensure the proof of claims submitted reflects an accurate amount
due. As a result of Ms. Besley's work, the Debtor anticipates more
proof of claims may be amended.

The Debtor asserts that its creditors will not be prejudiced by the
requested extension; on the contrary, the Debtor's creditors will
be best served with an extension of the Exclusivity Periods, as it
will help finalize the precise amount due.

The Debtor further asserts that it continues to work in good faith
and remains focused on facilitating a successful reorganization.

Loving Kindness Healthcare Systems, LLC, is represented by:

     Robert S. Bernstein, Esq.
     Gwenyth A. Ortman, Esq.
     Bernstein-Burkley P.C.
     601 Grant Street, 9th Floor
     Pittsburg, PA 15219
     Telephone: (412) 456-8100
     Facsimile: (412) 456-8135
     Email: rbernstein@bernsteinlaw.com

                 About Loving Kindness Healthcare Systems

Loving Kindness Healthcare Systems LLC is a state-licensed Home
Health Care Agency.

Loving Kindness Healthcare Systems sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 24-22610) on
Oct. 25, 2024, with up to $50,000 in assets and up to $10 million
in liabilities. Copa Davis, member, signed the petition.

The Debtor tapped Robert S. Bernstein, Esq., at Bernstein-Burkley
PC as counsel and Gloria J. Besley as accountant.


MAGIC CAR: Seeks to Use Cash Collateral
---------------------------------------
Magic Car Rental, Inc. asked the U.S. Bankruptcy Court for the
Central District of California, San Fernando Division, for
authority to use cash collateral and provide adequate protection.

The Debtor has experienced significant financial and personal
hardships leading up to its current Chapter 11 bankruptcy filing.
The Debtor's financial difficulties began in 2020 due to the
COVID-19 pandemic, which severely impacted the car rental industry.
These challenges were compounded by a series of personal tragedies
and health issues affecting the Debtor's sole officer, Simon
Simonyan.

In 2020, Mr. Simonyan underwent open-heart surgery. In 2021, his
wife passed away, and in 2022, he required a second open-heart
surgery. Despite these setbacks, Mr. Simonyan continued to operate
the business and maintain its properties. The Debtor previously
filed for Chapter 11 bankruptcy on January 24 but that case was
dismissed due to an inability to secure vehicle insurance, as
required for the rental business. Insurance quotes during that time
were prohibitively expensive, ranging between $250,000 and
$500,000, but the company has since secured more reasonable quotes
through a new agent and is working to resolve the issue.

The Debtor's primary assets are two real properties located in
Winnetka and Northridge, California, from which it derives rental
income. It lacks unencumbered cash and relies entirely on this
rental income considered cash collateral to cover essential
expenses, including mortgage payments, property maintenance,
repairs, taxes, and utilities.

The real properties are encumbered by several secured creditors.
ReadyCap Lending, LLC holds first-position liens on both
properties, with claims of approximately $2.57 million on the
Sherman Way property and $1.27 million on the Parthenia/Acres
properties. Perpetual Investments, LLC holds a second-position lien
on the Sherman Way property, reportedly assigned from previous
lienholder Yuri Stein, with a balance of roughly $599,000. Ted
Goldberg holds a second-position lien on the Parthenia/Acres
properties for approximately $600,000.

The Debtor acknowledges these liens and offers to protect the
secured creditors by granting post-petition liens on the estate's
property and by making adequate protection payments once updated
property valuations are finalized.

A hearing on the matter is set for July 16.

                    About Magic Car Rental Inc.

Magic Car Rental Inc. offers vehicle rental services.

Magic Car Rental sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11013) on June 9,
2025. In its petition, the Debtor reported total assets of
$5,872,742 and total liabilities of $5,453,356.

Judge Victoria S Kaufman handles the case.

The Debtor is represented by Onyinye N. Anyama, Esq., at Anyama Law
Firm, APC.


MAI CAPITAL: Cliffwater Corporate Marks $21.1MM Loan at 61% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$21,128,571 loan extended to MAI Capital Management Intermediate
LLC to market at $8,313,360 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 MAI Capital
Management Intermediate LLC. The loan accrues interest at a rate of
9.05% per annum. The loan matures on August 29, 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 MAI Capital Management Intermediate LLC

MAI Capital Management Intermediate, LLC provides financial and
estate planning, investment management, tax planning and
preparation, insurance and risk management, accounting and bill
pay, and philanthropy advice as well as boutique services like
family office or specialized solutions to people in the sports and
entertainment industries.


MAI CAPITAL: Cliffwater Corporate Marks $7.9MM Loan at 67% Off
--------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $7,914,286
loan extended to MAI Capital Management Intermediate LLC to market
at $2,627,682 or 33% 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 MAI Capital Management
Intermediate LLC. The loan accrues interest at a rate of 9.05% per
annum. The loan matures on August 29, 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 MAI Capital Management Intermediate LLC

MAI Capital Management Intermediate, LLC provides financial and
estate planning, investment management, tax planning and
preparation, insurance and risk management, accounting and bill
pay, and philanthropy advice as well as boutique services like
family office or specialized solutions to people in the sports and
entertainment industries.


MARIN SOFTWARE: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------
Debtor: Marin Software Incorporated
        149 New Montgomery
        4th Floor
        San Francisco, CA 94105

Business Description: Marin provides a software-as-a-service
                      platform for managing digital advertising
                      across search, social, and eCommerce
                      channels.  Its platform offers analytics,
                      workflow, and optimization tools designed to
                      help performance marketers and agencies
                      improve returns on advertising spend.

Chapter 11 Petition Date: July 1, 2025

Court: United States Bankruptcy Court
       District of Delaware

Case No.: 25-11263

Debtor's
Bankruptcy
Counsel:          James E. O'Neill, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  919 North Market Street, 17th Floor,
                  P.O. Box 8705
                  Wilmington DE 19899-8705
                  Tel: (302) 652-4100
                  Email: joneill@pszjlaw.com

Debtor's
Corporate
Counsel:          FENWICK & WEST LLP

Debtor's
Financial
Advisor:          ARMANINO ADVISORY LLC

Debtor's
Claims,
Noticing &
Solicitation
Agent and
Administrative
Advisor:          DONLIN, RECANO & COMPANY, LLC

Total Assets: $5,656,853

Total Debts: $2,767,237

Robert Bertz, the chief financial officer, signed the petition.

A full-text copy of the petition, which includes a list of the
Debtor's 10 unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/TYWP5CQ/Marin_Software_Incorporated__debke-25-11263__0001.0.pdf?mcid=tGE4TAMA


MCLARENS MIDCO: Cliffwater Corporate Marks $1MM Loan at 89% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,015,815
loan extended to Mclarens Midco, Inc. to market at $107,251 or 11%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Mclarens Midco,
Inc. The loan accrues interest at a rate of 10.21% per annum. The
loan matures on December 19, 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 Mclarens Midco, Inc.

Mclarens Midco, Inc. is an insurance industry leader providing
claims management, loss adjusting and risk mitigation services to
clients around the world.


MODERN BUILDERS: Seeks Chapter 11 Bankruptcy in Florida
-------------------------------------------------------
On June 26, 2025, Modern Builders Inc. filed Chapter 11 protection
in the U.S. Bankruptcy Court for the Middle District of Florida.
According to court filing, the Debtor reports between $1 million
and $10 million in debt owed to 50 and 99 creditors. The petition
states funds will be available to unsecured creditors.

           About Modern Builders Inc.

Modern Builders Inc. is a Florida-based company likely involved in
construction and building services.

Modern Builders Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04339) on June 26,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Catherine Peek Mcewen handles the
case.

The Debtors are represented by Stephenie Biernacki Anthony, Esq. at
Anthony & Partners LLC.


MODUS SYSTEMS: Seeks to Hire Armory Consulting Co. as CRO
---------------------------------------------------------
Modus Systems, LLC seeks approval from the U.S. Bankruptcy Court
for the Central District of California to employ Armory Consulting
Co. as chief restructuring officer.

The firm will provide these services:

     a. effectuate a plan of reorganization or sale of Debtor's
assets;

     b. review financial and tax records to prepare documentation
as required by the US Bankruptcy Court and US Trustee's Office;

     c. assist with preparation of the Schedules and Statement of
Financial Affairs;

     d. serve as liaison between the Company and its bankruptcy
counsel and other parties-in-interest;

     e. appear and testify in any manner at the U.S. Bankruptcy
Court or at the Office of the U.S. Trustee on behalf of the
Company;

     f. respond to interview questions at the Office of the U.S.
Trustee and/or the Company's creditors on behalf of the Company;

     g. assist with researching potential causes of action, asset
investigations, forensic accounting; and

     h. assist in such matters as may be mutually agreed upon in
writing between the Company and Armory.

The firm will be paid at the rate of $575 per hour, plus
reimbursement for reasonable out-of-pocket expenses incurred.

The firm received from the Debtor $7,500 on March 24, 2024, and
$2,645 on October 31, 2024, totaling $10,145.00, as retainer.

James Wong, a principal at Armory Consulting Co., disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     James Wong
     Armory Consulting Co.
     3943 Irvine Blvd., #253
     Irvine, CA 92602
     Tel: (714) 222-5552
     Email: jwong@armoryconsulting.com

              About Modus Systems, LLC

Modus Systems, LLC filed Chapter 7 petition (Bankr. C.D. Calif.
Case No. 24-10655) on March 19, 2024. The case was converted to one
under Chapter 11 on January 10, 2025.

Judge Scott C. Clarkson oversees the case.

Goe Forsythe & Hodges, LLP is the Debtor's legal counsel.



MORE COWBELL: Cliffwater Corporate Marks $8.4MM Loan at 43% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $8,415,801
loan extended to More Cowbell II LLC to market at $4,807,825 or 57%
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 More Cowbell II LLC.
The loan accrues interest at a rate of 9.26% per annum. The loan
matures on September 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 More Cowbell II LLC

More Cowbell II, LLC is a company that is focused on providing
cloud-based process technologies and data-driven solutions.


MOSAIC SUSTAINABLE: Reed Smith Represents Consumer Claimants
------------------------------------------------------------
The law firm of Reed Smith LLP filed a verified statement pursuant
to Rule 2019 of the Federal Rules of Bankruptcy Procedure to
disclose that in the Chapter 11 cases of Mosaic Sustainable Finance
Corporation, and affiliates, the firm represents Consumer
Claimants.

Each party believes that it holds a consumer credit contract claim
subject to the Truth in Lending Act, Deceptive Trade Practices Act,
or other consumer protection laws against one or more of the
Debtors. The precise consumer protection claim and principal amount
of each Consumer Claimant's claim is uncertain at this time.

The Consumer Claimants listed on Exhibit A are each represented by
the Prevost Law Firm, PC (the "Prevost Firm"), which has been
retained to protect and assert their consumer protection claims.
Pursuant to the authority the Consumer Claimants granted to the
Prevost Firm in their respective engagement agreements to preserve
and pursue such claims. The Prevost Firm has engaged Reed Smith to
represent the Consumer Claimants solely in the bankruptcy cases.
Reed Smith does not represent the Consumer Claimants in any other
proceedings.

The Consumer Claimants' address and nature and amount of
disclosable economic interests held in relation to the Debtors
are:

1. Demetrius Colvin, Jr.
   701 Waynelee Drive, Lancaster,
   Texas, 75146
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

2. Viral Purohit
   12600 Prescott Pl, Farmers
   Branch, Texas, 75234
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

3. Donald Jackson
   12031 25th St, Santa Fe,
   Texas, 77510
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

4. Shawntell Bradford
   4200 Avenue N, Fort Worth,
   Texas, 76105
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

5. Clifton Dukes
   4222 FM 972, Georgetown,
   Texas, 78626
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

6. Kaci Bradley
   912 County Road 941D, Alvin,
   Texas, 77511
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

7. Tony Taylor
   25534 Marisol Sunsets Ln, Katy
   Texas, 77493
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

8. Tyler Horton
   1805 Leader Dr, Killeen,
   Texas, 76549
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

9. Robert Arellano
   5375 County Road 44,
   Robstown, Texas, 78380
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

10. Vincent Abad
   11860 Ernest Rd, Socorro,
   Texas, 79927
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

11. Randy Branch
   3622 High Meadow Dr., San
   Angelo, Texas, 76904
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

12. James House
   1077 Kingbird Ln., Alvarado,
   Texas, 76009
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

13. Ronny Bingham
   8606 Lajitas Bnd, San Antonio,
   Texas, 78254
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

14. John Goodman
   12190 Kelly Rd., Atascosa,
   Texas, 78002
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

15. Gerald Ben
   12384 W Devonshire Ave,
   Avondale, AZ, 85392
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

16. Dean Chinnery Jr
   6600 McGregor Loop, Killeen,
   Texas, 76549
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

17. Mark Santilli
   7816 West Dr, El Paso,
   Texas, 79915
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

18. Alma Moreno Sanchez
   1808 Shreya St., El Paso,
   Texas, 79928
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

19. Venita Durante
   1610 Phyllis Dr, Copperas Cove,
   Texas, 76522
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

20. Jeff Stephens
   2500 Stone Road, Kilgore,
   Texas, 75662
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

21. Eric Gennert
   4324 N Jadestone Ave, Las
   Vegas, Nevada, 89108
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

22. Paul Alvarado
   2089 Thames View St.,
   Henderson, Nevada, 89044
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

23. Shawn Leonards
   357 Maple Way, New Braunfels,
   Texas, 78132
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

24. Brett Casale
   2109 Hill Country Dr., Arlington,
   Texas, 76012
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection     
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

25. Kevin Pfanstiel
   704 Poplar Grove Cemetery Rd,
   Henning, Tennessee, 38041
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
    laws against one or more Debtors. The amount of such payment or
recovery is unknown.

26. Ben Overmyer
   7702 S Farm-to-Market 565 Rd,
   Cove, Texas, 77523
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

27. Loni Boaz
   205 E Embercrest Dr, Arlington,
   Texas, 76018
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

28. Robert Valentin
   364 County Rd. 279, Niota,
   Tennessee, 37826
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

29. Waldo Pagan
   2906 Churchill Way, Garland,
   Texas, 75044
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

30. Cheryl Tiensvold
   1018 Mesquite Lane, Abilene,
   Texas, 79601
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

31. Terrell Brown
   10823 Braes Forest Dr., Houston,
   TX, 77071
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

32. Frank Castillo
   17886 Senior Rd. 13, Von Ormy,
   TX, 78073
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

33. Andres Moreno
   2880 Shimmer Edge Dr., Katy,
   TX, 77493
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

34. Lee Daugherty
   4302 B Bar Dr., Santa Fe,
   Texas, 77510
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

35. Perry Jackson
   1610 W. Kentucky Avenue,
   Midland, TX, 79701
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection     
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

36. Alan Janicki
   5961 Pappas Road, Waller,
   TX, 77484
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection   
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

37. David McPhail
   3201 Logsdon St., Copperas
   Cove, Texas, 76522
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

38. Alfred Cross
   600 Park Street, Burkburnett,
   Texas, 67354
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

39. Arturo Enriquez
   501 Atlanta Dr., Laredo,
   TX, 78045
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

40. Aida Saleh
   940 S Saranac Ave, Mesa,
   AZ, 85208
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection     laws against one or
more Debtors. The amount of such payment or recovery is unknown.

41. Boman Avong
   4637 Wildflower Way,
   Midlothian, TX, 76065
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

42. Brooke Beffa
   3121 Chatterton Dr., San Angelo,
   Texas, 76904
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

43. Otis Wells
   20711 Fair Castle dr, Cypress,
   Texas, 77433
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

44. Brianna Price
   4702 South Chestnut Street,
   Lufkin, Texas, 75901
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

45. Carmen Zepeda
   431 estate Dr, Clint,
   Texas, 79836
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

46. Jack Trotter
   360 Toliver Lake Rd,
   Manchester, TN, 37355
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

47. Casey Lovell
   12229 Highway 35, Benton,
   Arkansas, 72015
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

48. Clay McCall
   2322 Wooster St., Nolanville,
   Texas, 76559
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

49. Marvelia Barrera
   1745 Riverside St., Rio Grande
   City, Texas, 78582
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

50. Theresa Triplett
   540 McCumber Dr, Allenhurst,
   Georgia, 31301
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

51. Curtis Ryan
   288 CR 2227, Daingerfield,
   Texas, 75638
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

52. Carmen Lopez
   2592 W Brandy Crest Dr,
   Tucson, AZ, 85713
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

53. Justin Davis
   7234 West Vista Avenue,
   Glendale, AZ, 85303
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

54. Danishia Buckley
   3 Lakeside Dr, Little Rock,
   AR, 72204
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

55. David VanCott
   9745 Hardrock Rd, Las Cruces,
   NM, 88011
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

56. David Baur
   805 County Road 2228,
   Douglassville, Texas, 75560
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

57. David Blair
   520 Blair Rd, Waxahachie,
   TX, 75165
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

58. Devin Johnson
   10290 County Road 314,
   Navasota, TX, 77868
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

59. Elizabeth Sullivan
   10633 Kiowa Trl W, Fort Worth,
   TX, 76108
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

60. Edward Sellers
   199 Klbj Rd, Smithville,
   TX, 78957
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

61. Matt Flake
   4970 Henry Town Road,
   Sevierville, Tennessee, 37876
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

62. Gilbert Ramos
   2612 Prospect St., Carlsbad,
   NM, 88220
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

63. Guillermo Medina
   337 Beverly Dr, Corpus Christi,
   Texas, 78411
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection    
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

64. Harold Baldwin
   1305 Idlewood Ct, McDonough,
   Georgia, 30252
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

65. Holly McComb
   4035 Bridge Water Rd,
   Heartland, TX, 75126
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

66. Joseph Moreno
   23409 El Paso Drive, Harlingen,
   TX, 78552
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

67. Jana Seddon
   1726 Horseshoe Ln Van,
   Alstyne, TX, 75495
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

68. Jarrid Perry
   2300 W Briargate Dr, Bryan,
   Texas, 77802
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

69. Joey Miller
   1215 Mission Del Mar Way,
   Las Vegas, Nevada, 89123
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

70. Julie Frances
   9021 Starmount drive,
   Las Vegas, NV, 89134
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

71. James Floyd
   194 Country Court, Loogootee,
   IN, 47553
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

72. Eloy Jimenez
   2918 El Sol Dr Weslaco,
   TX, 78599
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

73. John Langston
   5506 coral vly San Antonio,
   Texas, 78242
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

74. John McLendon
   545 Tara Road Brandon,
   Mississippi, 39042
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

75. John Holbrook
   12800 South SR69 Mayer,
   Arizona, 86333
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

76. Jonathan Hinderman
   11717 Jayden Ln Tyler,
   TX, 75703
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

77. James Worthington
   24365 Sweetwater Rd Wilder,
   ID, 83676
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

78. John Crooks
   4450 FM 67 Grandview,
   Texas, 76050
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

79. Kyle Nguyen
   1002 Ramble Creek Dr
   Pflugerville, TX, 78660
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

80. Luis Aguirre
   720 field ave, Taft, TX, 78390
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection   
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

81. Louis Alvarado
   11046 Wilson Oaks San Antonio
   Texas 78249
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

82. Luke House
   1407 Willoughby Mills ln
   Montgomery, Texas, 77316
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

83. Emmanuel Velazquez
   14637 Petralia Ave El Paso,
   TX, 79938
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

84. Marcus Deaver
   5203 Camp Creek Road
   Baytown, TX, 77523
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

85. Belem Ibave
   448 Royal Crown Rd Horizon
   City, TX, 79928
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

86. Michael Delozier
   7329 Night Sky Street North Las
   Vegas, NV, 89084
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

87. Gwen Ferrell
   807 Rigsby Ave., San Antonio,
   Texas, 78210
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

88. Anton & Nancy Jackson
   1018 Molina Drive Weatherford,
   Texas, 76085
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

89. Michael Ayers
   166 Badgett Ave Mount Airy,
   North Carolina, 27030
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

90. Serina Apodaca-Peckham
   1535 Vajillo Lane Las Cruces,
   New Mexico, 88005
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

91. Patrick Manning
   17055 Dempsey Road
   Leavenworth, KS, 66048
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

92. Pedro Hernandez
   500 silver sage dr Del rio,
   Texas, 78840
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

93. Raul Aguilar
   1208 Sharondale Dr., Crowley,
   TX, 76036
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

94. David Reeves
   31003 Pine Knot Road,
   Magnolia, Texas, 77354
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

95. Roxanne Parish
   67886 ALPINE DR, Salome,
   AZ 85348
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

96. Ruben Cázares
   839 Vinton Ave. Canutillo,
   TX, 79835
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

97. Ryan Schacht
   7708 Prairie Ct Brighton,
   Michigan, 48116
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

98. Scott Ping
   21690 N 260th Drive Buckeye,
   AZ, 85396
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

99. Marsha Symons
   2493 Louis Agusta Dr San
   Antonio, TX, 78253
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

100. Shawna Straight
   9955 E shadow lake dr.,
   Claremore, Oklahoma, 74017
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

101. George Sorapuru
   200 Pinnacle Drive Mansfield,
   TX, 76063
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

102. Timothy Henderson
   800 N Morgan St Angleton,
   Texas, 77515
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

103. Timothy Bender
   5019 Jarvis Street LUBBOCK,
   TX, 79416
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

104. Tina Lee
   4502 Senda Ln. Austin
   Texas, 78725
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

105. Tracy Dohner
   201 E Washington Street Butler,
   IN, 46721
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

106. Joe Castleberry
   5717 Country Valley Lane Fort
   Worth Texas 76179
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

107. Jeremy Behm
   17900 Mama Bear Ct RENO,
   NV, 89508
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

108. Oscar Gonzalez
   1628 Via Seca El Paso,
   TX, 79936
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

109. 429 Monticello Pkwy Dr
   Portales, New Mexico, 88130
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

110. Matthew Carey
   3033 Springmill West Rd
   Mansfield, OH 44903
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

111. Neil Boddicker
   1058 Boles Rd New Market,
   AL 35761
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

112. Danishia Moss
   3 Lakeside Dr, Little Rock,
   AR 72204
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

113. Kristin Atwood
   7231 E Pomegrannate St.,
   Tucson, AZ 85733
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection   
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

114. Jacob Gregory
   1012 E Empire Canyon
   Sahuarita, AZ 85629
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

115. Margo Tucker
   2031 Sonning Dr Germantown,
   TN 38138
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

116. Joshua Tyler
   9012 Virgo Ln El Paso,
   TX 79904
   * Right to payment or recovery under consumer credit contract
and/or in relation to consumer protection
     laws against one or more Debtors. The amount of such payment
or recovery is unknown.

The law firm can be reached at:

     REED SMITH, LLP
     Keith M. Aurzada, Esq.
     Bradley J. Purcell, Esq.
     2850 N. Harwood Street, Ste. 1500
     Dallas, Texas 75201
     Telephone: 469-680-4200
     Facsimile: 469-680-4299
     Email: kaurzada@reedsmith.com
            bpurcell@reedsmith.com

                  About Mosaic Sustainable Finance

Mosaic Sustainable Finance Corporation sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No.
25-90156) on June 6, 2025, with $1,000,000,001 to $10 billion in
assets and liabilities.

Judge Christopher M. Lopez presides over the case.

Charles Martin Persons, Esq. at Paul Hastings LLP represents the
Debtor as legal counsel.


MOWBRAY WATERMAN: Seeks to Extend Plan Exclusivity to September 17
------------------------------------------------------------------
Mowbray Waterman Property, LLC, asked the U.S. Bankruptcy Court for
the Central District of California to extend its exclusivity
periods to file a plan of reorganization and obtain acceptance
thereof to September 17 and November 18, 2025, respectively.

The Debtor believes it is in the best interest of its creditors for
it to review the report of the examiner appointed in MTS's case
before filing its plan of reorganization. The report, which is due
on July 14, 2025, will likely be instructive in formulating the
Debtor's plan as there are issues common to the estates of both MTS
and Debtor, including without limitation, the claims of PNC Bank,
N.A., and the disputed litigation claim of MTS's former chief
executive officer, Mr. Jordan (who asserts the largest unsecured
claim against the Debtor's estate).

In addition, the Debtor's counsel has had preliminary discussions
with counsel for the examiner appointed in MTS's case regarding the
terms of coordinated (if not joint) plan(s) of reorganization by
the Debtor, MTS, and the principal of both, Robin Mowbray (the
debtor in Case No. 8:25-bk-10543-SC) and intends to use the Plan
Exclusivity Period to further those discussions and to formulate a
comprehensive proposed plan of reorganization.

The Debtor explains that it seeks to use the Solicitation
Exclusivity Period for its intended purpose, i.e., to have
sufficient time to work towards a consensual plan with its
creditors without the threat of a competing plan. The Debtor's
conduct to date underscores its willingness to work with its
creditors.

The Debtor claims that it has also had preliminary discussions with
Mr. Jordan's counsel regarding resolving his claim. The Debtor has
done nothing to indicate any attempt to pressure creditors.
Ultimately, an extension of the Solicitation Exclusivity Period
will allow the Debtor to work with its creditors, not against
them.

The Debtor asserts that because there are so many parties with whom
the Debtor has concluded cooperation is essential to formulating
its plan of reorganization and because Debtor's case is still in
its early stages, the Debtor believes a reasonable extension of the
Plan Exclusivity Period and Solicitation Exclusivity Period is
necessary and will not prejudice creditors.

Mowbray Waterman Property, LLC is represented by:

     Roye Zur, Esq.
     Lauren N. Gans, Esq.
     Elkins Kalt Weintraub Reuben Gartside LLP
     10345 W. Olympic Blvd.
     Los Angeles, California 90064
     Tel: (310) 746-4400
     Fax: (310) 746-4499
     Email: rzur@elkinskalt.com
            lgans@elkinskalt.com

                  About Mowbray Waterman Property, LLC

Mowbray Waterman Property, LLC is a real estate company based in
San Bernardino, Calif., specializing leasing of commercial and
residential properties.

Mowbray Waterman Property sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10930) on
February 19, 2025. In its petition, the Debtor reported between $1
million and $10 million in both assets and liabilities.

Judge Mark D. Houle handles the case.

The Debtor is represented by Lauren Gans, Esq., at Elkins Kalt
Weintraub Reuben Gartside, LLP.


NO WAKE ZONE: Hires De Leo Law Firm LLC as Counsel
--------------------------------------------------
No Wake Zone, LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Louisiana to employ The De Leo Law Firm LLC
as legal counsel in its Chapter 11 bankruptcy proceedings.

The firm will be paid at these rates:

     Robin De Leo, Esq.    $390 per hour
     Paralegals            $125 per hour

The Debtor paid the firm a retainer in the amount of $15,000.

As disclosed in the court filings, De Leo Law does not represent or
hold any interest adverse to the Debtor and is a disinterested
party, as defined by the Bankruptcy Code.

The firm can be reached through:

     Robin R. De Leo, Esq.
     The De Leo Law Firm, LLC
     800 Ramon St.
     Mandeville, LA 70448
     Tel: (985) 727-1664
     Fax: (985) 727-4388
     Email: lisa@northshoreattorney.com

              About No Wake Zone, LLC

No Wake Zone, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
E.D. La. Case No. 25-11248) on June 17, 2025. The Debtor hires The
De Leo Law Firm LLC as counsel.


NORADA CAPITAL: Investors Defend Amended Receivership Motion
------------------------------------------------------------
In the case styled KATHLEEN GROSSART TAYLOR, et al., Plaintiffs v.
NORADA CAPITAL MANAGEMENT LLC, et al., Defendants, Case No.
2:25-cv-00062-ABJ (D. Wyo.), the Plaintiffs submit a reply in
support of their amended motion to appoint Timothy J. Martin as a
receiver.

The Plaintiffs are various investors who allegedly purchased
promissory notes from Norada Capital Management LLC between 2021
and 2024. After Norada Capital initially made required monthly
interest payments to the Plaintiffs, Norada Capital allegedly
discontinued the payments in June of 2024 and announced it was
converting the Plaintiffs' outstanding balances to equity.
According to the Plaintiffs, this purported conversion to equity
breached the promissory notes.

The Plaintiffs filed their original Complaint on March 3, 2025. On
March 11, the Plaintiffs filed an ex parte motion seeking
appointment of a receiver for assets of Norada Capital and six
other Norada Defendants. Accompanying the ex parte motion was a
declaration by one of the Plaintiffs.

On May 14, the assigned Magistrate Judge issued an ex parte
recommendation to deny the Plaintiffs' ex parte receivership
motion. Subsequently, the Court lifted the ex parte designations.
On May 28, the Plaintiffs filed their First Amended Complaint. That
same day, the Plaintiffs withdrew their ex parte receivership
motion.

On June 4, the Plaintiffs filed their amended receivership Motion.
Unlike their original ex parte motion, which sought to take control
of all the assets of seven Norada Defendants, the Plaintiffs'
amended Motion seeks to take control of $4.31 million of Norada
Capital's alleged assets, the amount of the Plaintiffs' alleged
compensatory damages. The amended motion appears to cite the same
declaration as the ex parte motion.

On June 18, the Defendants filed a response in opposition to the
Plaintiffs' amended receivership Motion. The Defendants presented
factors that weigh against the Plaintiffs' Motion:

     1. The "valid claim" factor is probably neutral. This factor
seems more like a threshold requirement, because without a valid
claim, no plaintiff (presumably) would be entitled to a receiver.

     2. The Plaintiffs make no pertinent showing of fraud.

     3. The Plaintiffs do not show imminent danger that property
will be lost, concealed, or diminished in value.

     4. The Plaintiffs do not show their available legal remedies
are inadequate.

     5. The Plaintiffs do not show a less drastic equitable remedy
would be inadequate. The Plaintiffs claim they have made this
showing because they are only seeking a receivership for $4.31
million of Norada Capital's assets, rather than all the assets of
all the Norada entities.

     6. The Plaintiffs have not adequately addressed the likelihood
that appointing a receiver would do more harm than good.

On June 25, the Plaintiffs submit a Reply in support of their
Amended Motion to appoint Timothy J. Martin as a receiver. Because
the Plaintiffs have shown that irreparable harm is likely before a
decision on the merits of this matter is rendered, the Plaintiffs
assert that the Court may appoint Mr. Martin as a receiver over
Norada Capital. Norada Capital relies on case law nearly entirely
outside of the Tenth Circuit to argue the Plaintiffs are not
entitled to appointment of a receiver because they are mere
"unsecured contract creditors in the early stages of prosecuting
various claims against Norada Capital." According to the
Plaintiffs, contrary to Norada Capital's assertion, there is
nothing requiring Plaintiffs to bring this action in their capacity
as purported "members or owners of Norada Capital" to warrant
appointment of a receiver.

According to the Plaintiffs, for the first and second factors --
existence of a valid claim asserted by Plaintiffs and the
probability that fraudulent conduct has occurred or will occur to
frustrate Plaintiffs' claims -- Norada Capital asserts, without any
basis -- that the first factor "is probably neutral" and "seems
more like a threshold requirement."

As it concerns the third factor of imminent danger that property
will be lost, concealed, or diminished in value, the Plaintiffs
amended the Declaration of Mark Sanders to provide further evidence
of "Norada Defendants' financial condition and business practices"
that Magistrate Judge Klosterman lacked insufficient evidence of to
conclude that this factor weighed in the Plaintiffs' favor.
Additionally, Plaintiffs encourage that "any chance at recovery of
monetary damages the Plaintiffs have becomes increasingly
insurmountable without appointment of receiver."

The Plaintiffs disagree with NCM's contention that they have not
demonstrated a "probable risk of asset dissipation." As stated,
there are real estate assets that are not subject to the seizure
warrant NCM affixed to its Opposition to the Amended Motion. Nor
does NCM deny that an accounting will need to be conducted sooner
or later in this proceeding. For these reasons the factors Courts
consider weigh in favor of appointment of a receiver, assert the
Plaintiffs.

Norada Capital is a Wyoming investment management company with a
principal place of business in Laguna Niguel, California.

Plaintiffs Kathleen Grossart Taylor, et al., are represented by:

          Robert V. Cornish, Jr., Esq.
          LAW OFFICES OF ROBERT V. CORNISH, JR., PC
          680 South Cache Street, Suite 100
          P.O. Box 12200
          Jackson, WY 83001
          Telephone: (307) 264-0535
          E-mail: rcornish@rcornishlaw.com

Defendant Norada Capital Management LLC is represented by:

          Thomas Andrew Szott, Esq.
          THE BERNHOFT LAW FIRM, S.C.
          1710 W. 6th Street
          Austin, TX 78703
          Telephone: (512) 582-2100
          E-mail: tszott@bernhoftlaw.com


NORTHLAKE CORNERS: Case Summary & One Unsecured Creditor
--------------------------------------------------------
Debtor: Northlake Corners, LLC
        13650 FM 1171
        Flower Mound, TX 75022

Business Description: Northlake Corners, LLC, doing business as
                      NLC Truck Parking, offers daily, weekly, and
                      monthly parking solutions for commercial
                      trucks.  The facility provides secure and
                      well-lit parking spaces with 24/7
                      surveillance and backup-powered lighting,
                      catering to both short- and long-term needs.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Eastern District of Texas

Case No.: 25-41894

Debtor's Counsel: Gary G Lyon, Esq.
                  BAILEY JOHNSON & LYON, PLLC
                  6401 W Eldorado Parkway 234
                  Mckinney TX 75070
                  Tel: (214) 620-2034
                  E-mail: glyon.attorney@gmail.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Todd Rodgers as member.

The Debtor listed Bailey Johnson & Lyon, PLLC of McKinney, Texas,
as its sole unsecured creditor, with an estimated claim of
$15,000.

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

https://www.pacermonitor.com/view/YBQVLFI/Northlake_Corners_LLC__txebke-25-41894__0001.0.pdf?mcid=tGE4TAMA


NORTHWEST GRADING: Court Extends Cash Collateral Access to Sept. 30
-------------------------------------------------------------------
Northwest Grading, Inc. received another extension from the U.S.
Bankruptcy Court for the District of Idaho to use cash collateral.

The second order, signed by Judge Noah Hillen, approved the
Debtor's use of cash collateral until September 30 to pay the
expenses set forth in its budget.

The funds at issue include nearly all of the Debtor's cash and
deposits, particularly proceeds from accounts receivable and other
operational income.

As protection for the Debtor's use of their cash collateral,
secured lenders including Washington Trust Bank, Merchants National
Bonding and the U.S. Small Business Administration, were granted
liens on all post-petition cash collateral to the same extent and
with the same priority as their pre-bankruptcy liens.

Washington Trust Bank is represented by:

Mark A. Ellingsen, Esq.
Julia C Schoffstall, Esq.
Witherspoon Brajcich McPhee, PLLC
6500 N. Mineral Drive, Suite 103
Coeur d'Alene, ID 83815
Telephone: (208) 927-4001
Facsimile: (509) 624-6441
mellingsen@workwith.com
jschoffstall@workwith.com

                   About Northwest Grading Inc.

Northwest Grading, Inc. is a heavy civil contractor in Hauser,
Idaho, specializing in infrastructure, water and sewer facilities.

Northwest Grading filed Chapter 11 petition (Bankr. D. Idaho Case
No. 24-20429) on December 20, 2024, listing between $1 million and
$10 million in both assets and liabilities. William J. Krick,
president of Northwest Grading, signed the petition.

Judge Noah G. Hillen oversees the case.

The Debtor is represented by Matthew T. Christensen, Esq., at
Johnson May, PLLC.


OAKBRIDGE INSURANCE: Cliffwater CLFX Marks $1.2MM Loan at 48% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,295,337
loan extended to Oakbridge Insurance Agency LLC to market at
$667,285 or 52% 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 Oakbridge Insurance
Agency LLC. The loan accrues interest at a rate of 10.07% per
annum. The loan matures on November 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 Oakbridge Insurance Agency LLC

Oakbridge Insurance Agency LLC is engaged in providing insurance
products and services.


OAKBRIDGE INSURANCE: Cliffwater CLFX Marks $4.3MM Loan at 61% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,317,790
loan extended to Oakbridge Insurance Agency LLC to market at
$1,699,007 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 Oakbridge
Insurance Agency LLC. The loan accrues interest at a rate of 10.07%
per annum. The loan matures on November 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 Oakbridge Insurance Agency LLC

Oakbridge Insurance Agency LLC is engaged in providing insurance
products and services.


OFFSHORE SAILING: To Sell Sailing School to Community Sailing
-------------------------------------------------------------
Offshore Sailing School Ltd. Inc. seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida, Ft. Myers
Division, to sell Property, free and clear of liens, claims, and
encumbrances.

The Debtor is a Florida limited liability company which previously
owned and operated a sailing school. The School is no longer
operating, and the Debtor intends to file a liquidating plan.

In order to fund the Debtor's proposed liquidating plan, the Debtor
intends to liquidate the Debtor's assets, which consist in large
part of sailboats, including 8 Colgate 26 sailboats, which are
itemized as follows:

a. Colgate 26 Sailboat – 2013-Hull ID OSN263338313
b. Colgate 26 sailboat – 2015-Hull ID OSN26352E516
c. Colgate 26 Sailboat - 2007 with asymmetrical spinnaker – 2007-
Hull ID OSN26281.A707
d. Colgate 26 Sailboat – 2007-Hull ID OSN26288E707
e. Colgate 26 Sailboat with asymmetrical spinnaker - 2012 Hull ID
OSN263288212
f. Colgate 26 Sailboat with asymmetrical spinnaker - 2004 Hull ID
OSN26208A404
g. Colgate 26 Sailboat with asymmetrical spinnaker - 2017 Hull ID
OSN26370K617
h. Colgate 26 Sailboat with asymmetrical spinnaker - 2016 Hull ID
OSN26353F516

The Debtor enters into an Asset Purchase Agreement with Community
Sailing New Orleans, a Louisiana corporation for the sale and
purchase of the Sailboats, two trailers suitable for transporting
the Sailboats and a classroom model of a Colgate 26.

The purchase price for the Sailboats is $120,000.00, the Trailers
is $6,000.00, and the Model is $750.00, with the total purchase
price of $126,750.00.

The Agreement provides for payment of the Purchase Price in cash or
immediately available funds at closing. There is no broker or other
entity entitled to a commission on the sale contemplated by the
Agreement.

The Sailboats, Trailers and Model are unencumbered.

The Debtor believes that the sale of the Sailboats, Trailers and
Model is fair and reasonable.

Additionally, the Buyer is accepting delivery of the Sailboats,
Trailers and Model in their current location, and therefore the
Debtor will not incur any expenses of delivery.

Buyer is represented by:

Danielle Mashburn-Myrick, Esq.
Phelps Dunbar, LLP
101 Dauphin Street
Suite 1000
Mobile, AL 36602
Email: danielle.mashburn-myrick@phelps.com

          About Offshore Sailing School Ltd. Inc.

Offshore Sailing School Ltd. Inc. is a provider of sailing and
powerboating instruction in the U.S., offering certification
courses in cruising, passage making, and racing. It also conducts
team-building sailing activities and organizes flotilla vacations
for certified sailors. With over 60 years of experience, the school
operates in Florida and the British Virgin Islands under the
leadership of Steve and Doris Colgate.

Offshore Sailing School Ltd. Inc. sought relief under Subchapter V
of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case
No. 25-00921) on May 21, 2025. In its petition, the Debtor reports
total assets as of Feb. 28, 2025 amounting to $611,760 and total
liabilities as of Feb. 28, 2025 totaling $2,277,797.

The Debtors are represented by Leon Williamson, Esq. at WILLIAMSON
LAW FIRM.


ONESOURCE COMMUNITY: Hires Parsonlaw as Human Resources Lawyer
--------------------------------------------------------------
OneSource Community Mental Health Services Of Virginia, Inc. seeks
approval from the U.S. Bankruptcy Court for the Eastern District of
Virginia to employ Parsonlaw PLLC as human resources lawyer.

The firm will provide these services:

     a. provide HR administration services including payroll and
benefits administration;

     b. employee relations (hiring, termination, performance,
management, leave requests for paid leave and FMLA);

     c. employee policy development;

     d. compliance with DOL, DBHDS, responses to VEC, and annual
EEO filings; and

     e. any other legal services as may be requested by the Debtor.


Cherie A. Parson, Esq., the attorney of the firm will be paid $300
per hour, and a monthly rate of $3,000 per month, with a total not
to exceed a monthly maximum of $6,000.

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

Cherie A. Parson, Esq., a partner at Parsonlaw 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:

     Cherie A. Parson, Esq.
     Parsonlaw PLLC
     11533 Busy St. Suite #265,
     North Chesterfield, VA 23236
     Tel: (804) 560-7529

              About OneSource Community Mental
                Health Services of Virginia

OneSource Community Mental Health Services of Virginia, Inc. is a
full-service counseling and drug-treatment business in Richmond,
Va.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Va. Case No. 24-34038) on October 24,
2024, with up to $1 million in assets and up to $10 million in
liabilities. Stephen A. Parson, Jr., chief executive officer,
signed the petition.

Christopher M. Winslow, Esq., at Winslow, McCurry & MacCormac,
PLLC, represents the Debtor as counsel.

Arthur Peabody, Jr., is the patient care ombudsman appointed in the
Debtor's case.



PARLEMENT TECHNOLOGIES: Gets Court OK for Ch. 11 Plan Creditor Vote
-------------------------------------------------------------------
Rick Archer of Law360 Bankruptcy Authority reports that on Tuesday,
July 1, 2025, a Delaware bankruptcy judge approved sending the
Chapter 11 plan of Parlement Technologies -- the former owner of
conservative social media platform Parler -- to creditors for a
vote, following confirmation from the company's ex-CEO that he was
satisfied with the disclosures regarding his dispute with the
debtor.

                About Parlement Technologies Inc.

Parlement Technologies Inc., f/k/a Parler LLC and Parler Inc., is a
technology services company in Nashville, Tenn., serving businesses
and organizations of all sizes.

Parlement Technologies filed a Chapter 11 petition (Bankr. D. Del.
Case No. 24-10755) on April 15, 2024, listing up to $50 million in
both assets and liabilities. Craig Jalbert, chief restructuring
officer, signed the petition.

Judge Craig T. Goldblatt oversees the case.

Jeremy W. Ryan, Esq., at Potter Anderson & Corroon, LLP serves as
the Debtor's bankruptcy counsel.


PATHSTONE FAMILY: Cliffwater Corporate Marks $2.4MM Loan at 54% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,497,372
loan extended to Pathstone Family Office, LLC to market at
$1,140,845 or 46% of the outstanding amount, according to CCLFX's
Form N-CSR for the fiscal year ended March 31, 2025, filed with the
U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Pathstone Family
Office, LLC. The loan accrues interest at a rate of 9.42% per
annum. The loan matures on May 15, 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 Pathstone Family Office, LLC

Pathstone Family Office, LLC is a partner-owned multi-family office
dedicated to serving ultra-high net worth families, single family
offices, foundations, and endowments.


PATRIOT GROWTH: Cliffwater Corporate Marks $2.6MM Loan at 50% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,660,377
loan extended to Patriot Growth Insurance Services, LLC to market
at $1,326,518 or 50% of the outstanding amount, according to
CCLFX's Form N-CSR for the fiscal year ended March 31, 2025, filed
with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Revolver Loan to Pathstone Family
Office, LLC. The loan accrues interest at a rate of 9.42% per
annum. The loan matures on October14, 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 Patriot Growth Insurance Services, LLC

Patriot Growth Insurance Services, LLC operates as an insurance
company.


PATRIOT GROWTH: Cliffwater Corporate Marks $39.9MM Loan at 30% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$39,946,400 loan extended to Patriot Growth Insurance Services, LLC
to market at $28,051,289 or 70% of the outstanding amount,
according to CCLFX's Form N-CSR for the fiscal year ended March 31,
2025, filed with the U.S. Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Pathstone Family
Office, LLC. The loan accrues interest at a rate of 9.30% per
annum. The loan matures on October14, 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 Patriot Growth Insurance Services, LLC

Patriot Growth Insurance Services, LLC operates as an insurance
company.


PETRA BORROWER: Cliffwater Corporate Marks $1.6M Loan at 15% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,669,869
loan extended to Petra Borrower, LLC to market at $1,415,689 or 85%
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 Petra Borrower, LLC.
The loan accrues interest at a rate of 10.07% per annum. The loan
matures on November 15, 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 Petra Borrower, LLC

Petra Borrower, LLC is a Delaware domestic limited-liability known
for personalized service and innovative financial products.


PETRA BORROWER: Cliffwater Corporate Marks $4.1MM Loan at 52% Off
-----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $4,174,675
loan extended to Petra Borrower, LLC to market at $1,994,593 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 Petra Borrower,
LLC. The loan accrues interest at a rate of 9.95% per annum. The
loan matures on November 15, 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 Petra Borrower, LLC

Petra Borrower, LLC is a Delaware domestic limited-liability known
for personalized service and innovative financial products.


PETRUS BUYER: Cliffwater Corporate Marks $5.4MM Loan at 44% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $5,486,758
loan extended to Petrus Buyer, Inc. to market at $3,057,644 or 56%
of the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Petrus Buyer, Inc.
The loan accrues interest at a rate of 9.06% per annum. The loan
matures on October 17, 2029.

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

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

The Fund can be reach through:

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

        About Petrus Buyer, Inc.

Petrus Buyer, Inc. is a provider of REIT research data and
analytics.


PI ESTATES: Seeks Subchapter V Bankruptcy in Florida
----------------------------------------------------
On June 26, 2025, PI Estates LLC filed Chapter 11 protection in
the U.S. Bankruptcy Court for the Middle District of Florida.
According to court filing, the Debtor reports between $1 million
and $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About PI Estates LLC

PI Estates LLC, operating as US COCONUTS and GOPAL FARM, is an
agricultural business based in Bokeelia, Florida, focused on
coconut farming operations. The company maintains orchard
development with planting trees using intercropping and
permaculture techniques on Pine Island.

PI Estates LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01197) on
June 26, 2025. In its petition, the Debtor reports estimated assets
and liabilities between $1 million and $10 million each.

Honorable Bankruptcy Judge Caryl E. Delano handles the case.


PINNACLE GROUP: Court Rejects Landlord's Cash Collateral Request
----------------------------------------------------------------
Isaac Monterose of Law360 Bankruptcy Authority reports that a New
York federal bankruptcy judge has denied Pinnacle Group's request
to allow its 82 debtor entities to access nearly $30 million in
cash collateral earmarked for Flagstar Bank, finding that the
debtors failed to demonstrate they could meet the "adequate
protection" standards required for use of the funds.

               About Pinnacle Group

Based in Sunrise, Fla., Pinnacle Group and its subsidiaries are
wholesalers of motor vehicle parts and accessories.  

Pinnacle Group and its subsidiaries sought Chapter 11 protection
(Bankr. S.D. Fla. Lead Case No. 19-13519) on March 19, 2019. In its
petition, Pinnacle Group estimated assets of $500,000 to $1 million
and liabilities of $1 million to $10 million. Judge John K. Olson
oversees the case. Jordan L. Rappaport, Esq., at Rappaport Osborne
& Rappaport, PLLC, is the Debtor's bankruptcy counsel.


PREMIER LUMBER: Case Summary & Four Unsecured Creditors
-------------------------------------------------------
Debtor: Premier Lumber Company, Inc.
        Attn: Mohamed Zubair Abdul Aleem
        5925 Fm 1003 Rd
        Kountze, TX 77625-8223

Business Description: Premier Lumber Company, Inc. operates a
                      lumber manufacturing business at its
                      facility in Kountze, Texas.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Eastern District of Texas

Case No.: 25-10295

Debtor's Counsel: Lloyd A. Lim, Esq.
                  KEAN MILLER LLP
                  711 Louisiana Street, Suite 1800 South Tower
                  Houston TX 77002
                  Tel: (713) 844-3070
                  E-mail: Lloyd.Lim@keanmiller.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mohamed Zubair Abdul Aleem as operating
manager of the Debtor.

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

https://www.pacermonitor.com/view/HT3HVIA/Premier_Lumber_Company_Inc__txebke-25-10295__0001.0.pdf?mcid=tGE4TAMA


PREMIUM GROUP: Cliffwater Corporate Virtually Writes Off $3.8M Loan
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,874,539
loan extended to Premium Group B2 to market at $21,320 or 1% of the
outstanding amount, according to CCLFX's Form N-CSR for the fiscal
year ended March 31, 2025, filed with the U.S. Securities and
Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to Premium Group B2.
The loan accrues interest at a rate of 1.00% per annum. The loan
matures on December 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 Premium Group B2

Premium Group B2 provides automotive loans, credit and debit,
consumer microlending, and other financial services.


PROJECT REAL: Leon Jones Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones
& Walden, LLC, as Subchapter V trustee for Project Real Life Youth
Occupational Training Corps., Inc.

Mr. Jones will be paid an hourly fee of $500 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Leon S. Jones, Esq.
     Jones & Walden, LLC
     699 Piedmont Ave. NE
     Atlanta, GA 30308
     Phone: (404) 564-9300
     Email: ljones@joneswalden.com

                   About Project Real Life Youth
                       Occupational Training

Project Real Life Youth Occupational Training Corps., Inc. filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. N.D. Ga. Case No. 25-56508) on June 11, 2025, with up to
$50,000 in assets and between $50,001 and $100,000 in liabilities.


Judge Lisa Ritchey Craig presides over the case.

Brad Fallon, Esq., at Fallon Law, PC represents the Debtor as
bankruptcy counsel.


PT&C GROUP: Cliffwater Corporate Marks $1MM Loan at 65% Off
-----------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,059,000
loan extended to PT&C Group, LLC to market at $375,265 or 35% of
the outstanding amount, according to CCLFX's Form N-CSR for the
fiscal year ended March 31, 2025, filed with the U.S. Securities
and Exchange Commission.

CCLFX is a participant in a Revolver Loan to PT&C Group, LLC. The
loan accrues interest at a rate of 9.86% per annum. The loan
matures on December 24, 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 PT&C Group, LLC

PT&C Group, LLC is engaged in providing accounting services.


PT&C GROUP: Cliffwater Corporate Marks $2.6 Million Loan at 62% Off
-------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $2,682,800
loan extended to PT&C Group, LLC to market at $1,010,324 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 Delayed Draw Loan to PT&C Group, LLC.
The loan accrues interest at a rate of 9.85% per annum. The loan
matures on December 24, 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 PT&C Group, LLC

PT&C Group, LLC is engaged in providing accounting services.


QUALITY FIRST: Frederick Bunol Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Frederick Bunol as
Subchapter V trustee for Quality First Construction, LLC.

Mr. Bunol will be paid an hourly fee of $390 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Frederick L. Bunol
     3027 Ridgelake Drive
     Metairie, LA 70002
     Telephone: (504) 207-0913
     Facsimile: (504) 832-0327
     Email: Fbunol@derbeslaw.com

                 About Quality First Construction

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 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 reported
between $1 million and $10 million in assets and liabilities.

Judge Meredith S. Grabill handles the case.

The Debtor is represented by Ryan J. Richmond, Esq., at Sternberg,
Naccari, & White, LLC.


QUEST IDENTITY: S&P Assigns 'CCC+' ICR, Outlook Stable
------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issuer credit ratings to
Quest Identity Intermediate Ltd. and OID-OL Intermediate I LLC
(OID-OL). S&P also assigned ratings of 'B' to Quest's first-lien
first-out term loan and revolving credit facility, 'CCC+' to its
first-lien second-out term loan, and 'CCC' to its first-lien
third-out term loan and first-lien fifth-out term loan A-1.

S&P's 'CCC+' rating and stable outlook on the previous borrowing
entity, Quest Software US Holdings Inc., is unchanged.

S&P said, "The stable outlook reflects our view that Quest has
sufficient liquidity to meet its operating and debt servicing
requirements over the next 12 months. At the same time, we believe
the company's elevated leverage, business execution risks, and weak
cash generation after debt servicing could make its long-term
capital structure unsustainable."

OID-OL, a wholly owned borrowing subsidiary of Quest Identity
Intermediate Ltd. (the group's ultimate parent), issued several new
secured debt tranches as part of Quest's recently completed
distressed debt exchange.

S&P said, "We expect revenues to decline 1%-2% this fiscal year
ending Jan. 31, 2026 (albeit with recurring revenues growing 1%)
amid an uncertain macroeconomic environment and headwinds related
to its shift toward subscription and term license revenues from
perpetual licenses. We also expect a lower negative reported free
operating cash flow (FOCF) of $15 million-$25 million this fiscal
year and a return to positive FOCF next fiscal year helped by a
lower cash interest burden under its new debt capital structure.
Nonetheless, S&P Global Ratings' adjusted leverage remains elevated
at about 11x and we believe strong business execution around
organic investments will be necessary for the company to return to
consistent revenue and EBITDA growth given the ongoing revenue
transition headwinds and the highly competitive nature of its
markets.

"The stable outlook reflects our view that Quest has sufficient
liquidity over the next 12 months to meet its operating and debt
servicing requirements. At the same time, we believe the company's
elevated leverage and uncertain business execution to return to
sustained revenue growth could make its long-term capital structure
unsustainable. While we expect Quest's FOCF to improve over the
next few years with a lower cash interest burden, we believe cash
interest could increase after a refinancing given the below-market
interest rate margins or partial payment-in-kind interest for
several of its debt tranches."

S&P could lower its rating on Quest if it believes there is
significant risk of a distressed debt exchange or default over a
12-month period. This could be due to:

-- Underperformance in its business execution plan, resulting in
weaker-than-expected revenue or EBITDA margins. This would lead to
greater uncertainty in refinancing upcoming debt maturities without
an amendment or exchange we consider provides lenders with less
than the original promise; or

-- Sustained negative FOCF beyond fiscal 2026 or significantly
reduced total available liquidity.

While S&P views it as unlikely over the next 12 months, S&P could
upgrade Quest if:

-- The company returns to sustained organic revenue growth, which
could include improving net revenue retention rates, stabilizing
the impact of the transition to recurring revenues, or market share
gains;

-- S&P has greater visibility around its long-term business
profile, including potential divestments;

-- S&P expects long-term EBITDA cash interest coverage will
improve toward mid-1x and FOCF to debt of at least 2% on a
sustained basis. S&P's assessment incorporates its view that its
cash interest expense would likely increase in a refinancing; and

-- The company maintains a history of liquidity improvements after
accounting for potential seasonality and debt servicing outflows.


RENASCENCE INC: Gets OK to Use Cash Collateral Until July 28
------------------------------------------------------------
Renascence, Inc. received interim approval from the U.S. Bankruptcy
Court for the Eastern District of North Carolina, Greenville
Division, to use cash collateral.

The order penned by Judge Pamela McAfee authorized the Debtor's
interim use of cash collateral until July 28 to pay essential
expenses in accordance with its budget, with 6% expense deviation
allowed.

The order granted the U.S. Small Business Administration and other
creditors with interest in the cash collateral a post-petition lien
on all cash, accounts, receivables and future receivables collected
by the Debtor during the interim period.

As addition protection, the Debtor has to make payment of $3,700 to
SBA due by July 5, and another $500 to be held in trust for the
Subchapter V trustee.

A final hearing is set for July 23.

The Debtor and SBA entered into a promissory note and security
agreement in 2020 and in 2021.  The notes were secured by the
Debtor's cash, accounts, receivables, inventory, equipment,
software, insurance proceeds, tax refunds and other intangibles.
The Debtor estimates that the balance due on the notes is $565,800.


A copy of the Debtor's budget is available at
https://shorturl.at/bVtuv from PacerMonitor.com.

                       About Renascence Inc.

Renascence, Inc. offers printing, publishing, mailing, embroidery,
signage, and retail office supply sales.

Renascence sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Banker. E.D. N.C. Case No. 25-01764) on May 12,
2025, listing up to $500,000 in assets and up to $10 million in
liabilities. Donald A. Stocks, Sr., president of Renascence, signed
the petition.

Judge Pamela W. Mcafee oversees the case.

C. Scott Kirk, Esq., represents the Debtor as legal counsel.


RFS OPCO: Cliffwater Corporate Marks $3.6MM Loan at 84% Off
-----------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,685,904
loan extended to RFS Opco LLC to market at $581,926 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 Delayed Draw Loan to RFS Opco LLC. The
loan accrues interest at a rate of 9.05% per annum. The loan
matures on April 4, 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 RFS Opco LLC

RFS Opco, LLC is a subsidiary of Rockefeller Capital Management,
specifically linked to the Rockefeller & Co. LLC entity, which
provides services like investment banking, wealth management, and
strategic advisory services.


RITE AID: Gets Court OK to Sell Thrifty Ice Cream in Chapter 11
---------------------------------------------------------------
Clara Geoghegan of Law360 reports that a New Jersey bankruptcy
judge on June 30, 2025, approved Rite Aid's $19.2 million sale of
its Thrifty ice cream brand -- more than twice the auction's
opening bid -- rejecting a losing bidder’s attempt to reopen the
Chapter 11 auction.

                 About Rite Aid

Rite Aid is a full-service pharmacy committed to improving health
outcomes. Rite Aid is defining the modern pharmacy by meeting
customer needs with a wide range of solutions that offer
convenience, including retail and delivery pharmacy, as well as
services offered through the Company's wholly owned subsidiary
Bartell Drugs. On the Web: http://www.riteaid.com/     

Rite Aid and certain of its subsidiaries previously filed for
Chapter 11 bankruptcy in October 2023 and emerged from bankruptcy
in August 2024.

On May 5, 2025, New Rite Aid, LLC and its subsidiaries, including
Rite Aid Corporation, commenced voluntary Chapter 11 proceedings
(Bankr. D.N.J. Lead Case No. 25-14861). As of the 2025 bankruptcy
filing date, Rite Aid operates 1,277 stores and 3 distribution
centers in 15 states and employs approximately 24,500 people. Rite
Aid is using the Chapter 11 process to pursue a sale of its
prescriptions, pharmacy and front-end inventory, and other assets.
The cases are being administered by the Honorable Michael B.
Kaplan.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal
advisor, Guggenheim Securities, LLC is serving as investment
banker, and Alvarez & Marsal is serving as financial advisor to the
Debtors. Joele Frank, Wilkinson Brimmer Katcher is serving as
strategic communications advisor to the Debtors.

Kroll is the claims agent and maintains the page
https://restructuring.ra.kroll.com/RiteAid2025

Bank of America, N.A., as DIP Agent, is represented by lawyers at
Greenberg Traurig, LLP; and Choate Hall & Stewart LLP.


RWA WEALTH: Cliffwater Corporate Marks $1.7MM Loan at 95% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $1,796,747
loan extended to RWA Wealth Partners, LLC to market at $92,390 or
5% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a Delayed Draw Loan to RWA Wealth
Partners, LLC. The loan accrues interest at a rate of 9.05% per
annum. The loan matures on November 15, 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 RWA Wealth Partners, LLC

RWA Wealth Partners, LLC provides wealth management solutions
integrated seamlessly with tax, estate and family office services.


SAR AMERICAN: Case Summary & Five Unsecured Creditors
-----------------------------------------------------
Debtor: SAR American Properties, LLC
        c/o Alex Sinno
        12258 I-35 Frontage Rd
        San Antonio, TX 78233

Business Description: SAR American Properties, LLC operates as a
                      real estate brokerage firm, facilitating the
                      buying, selling, and leasing of properties
                      in the San Antonio area.  The Company
                      primarily earns revenue through commissions
                      and transactional services.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 25-51470

Judge: Hon. Michael M Parker

Debtor's Counsel: Ronald Smeberg, Esq.
                  THE SMEBERG LAW FIRM
                  4 Imperial Oaks
                  San Antonio TX 78248-1609
                  Tel: (210) 695-6684
                  E-mail: ron@smeberg.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Alex Sinno as manager.

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

https://www.pacermonitor.com/view/N4I7UUQ/SAR_American_Properties_LLC__txwbke-25-51470__0001.0.pdf?mcid=tGE4TAMA


SBLA INC: Court Extends Cash Collateral Access to August 8
----------------------------------------------------------
SBLA, Inc. received another extension from the U.S. Bankruptcy
Court for the Southern District of Florida, West Palm Beach
Division, to use cash collateral.

The fourth interim order authorized the Debtor to use its secured
creditors' cash collateral until August 8 to pay business expenses
in accordance with its budget, with a 10% variance allowed.

As protection, secured creditors were granted replacement liens on
personal property acquired by the Debtor after its Chapter 11
filing, with the same priority and extent as their pre-bankruptcy
liens. The replacement liens do not apply to any Chapter 5 causes
of action.

The creditors that may have an interest in the cash collateral are
8Fig, Inc.; Libertas Funding, LLC; Fox Funding Group, LLC; Pinnacle
Business Funding LLC; Rocket Capital NY LLC; Spring Funding;
Capytal.com; SellersFi; Corporation Service Company, C T
Corporation System, and Middesk, Inc. as representatives; and CHTD
Company.

The next hearing is scheduled for August 6.

The Debtor's financial troubles stem from its reliance on merchant
cash advance (MCA) financing, which it used to cover prior debt.
The initial lender, 8Fig, Inc., provided short-term financing, but
the debt service became unsustainable. As a result, the Debtor took
on additional loans from new MCA lenders, which led to a cycle of
increasing debt and pressure. Some of these subsequent lenders
contacted the Debtor unsolicited, anticipating the company's need
for further funding. This spiraling debt situation, combined with
lawsuits from creditors, led the Debtor to file for bankruptcy
protection.

                       About SBLA Inc.

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

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-12606) on March 11,
2025. In the petition signed by Leonard Cogan, CFO, the Debtor
disclosed $801,858 in assets and $3,252,917 in liabilities.

Judge Mindy A. Mora oversees the case.

Bradley S. Shraiberg, Esq., at Shraiberg Page PA, is the Debtor's
legal counsel.

8Fig, Inc., as secured creditor, is represented by:

   Eric B. Zwiebel, Esq.
   Emanuel & Zwiebel, PLLC
   7900 Peters Road
   Executive Court at Jacaranda
   Building B, Suite 100
   Plantation, FL 33324
   Phone: (954) 424-2005
   Fax: (954) 533-0138
   eric.zwiebel@emzwlaw.com

Pinnacle Business Funding LLC, as secured creditor, is represented
by:

   Anthony F. Giuliano, Esq.
   Giuliano Law, P.C.
   445 Broadhollow Road, Ste. 25
   Melville, NY 11747
   Phone: (516) 792-9800  
   afg@glpcny.com


SCANROCK OIL: Plan Exclusivity Period Extended to August 4
----------------------------------------------------------
Judge Mark X. Mullin of the U.S. Bankruptcy Court for the Northern
District of Texas extended Scanrock Oil & Gas, Inc., and its
affiliates' exclusive periods to file a plan of reorganization and
obtain acceptance thereof to August 4 and October 3, 2025,
respectively.

As shared by Troubled Company Reporter, these factors warrant the
requested extension of exclusivity for the following reasons:

     * The Cases are complex chapter 11 cases pending on the
Court's mega docket and involve enhanced complexity and
difficulty;

     * The Debtors have timely filed a Plan and Disclosure
Statement but require additional time to permit good-faith, arm's
length negotiations with stakeholders;

     * The Debtors have made positive progress towards reaching a
confirmable plan of reorganization, including by timely filing the
Plan and Disclosure Statement;

     * The Debtors are paying their ordinary course expenses as
they come due and have remained substantially current on all post
petition obligations;

     * The Debtors are currently negotiating with the Committee,
creditors, and stakeholders regarding the Plan and Disclosure
Statement;

     * The Debtors are not seeking this extension to pressure
creditors, but rather seek this extension to be able to propose and
confirm a plan that will provide a larger dividend to creditors
than liquidation;

     * There are several unresolved contingencies in the Chapter 11
Cases.

Counsel to the Oil and Gas Debtors and the Oregon Debtors:

     Davor Rukavina, Esq.
     Thomas D. Berghman, Esq.
     Garrick C. Smith, Esq.
     MUNSCH HARDT KOPF & HARR, P.C.
     500 N. Akard St., Ste. 4000
     Dallas, TX 75201
     Telephone: (214) 855-7500
     E-mail: drukavina@munsch.com
     E-mail: tberghman@munsch.com
     E-mail: gsmith@munsch.com

Counsel to O'Ryan Ranches, Ltd.:

     Hudson M. Jobe, Esq.
     Jobe Law PLLC
     6060 North Central Expressway, Suite 500
     Dallas, Texas 75206
     Tel: (214) 807-0563
     Email: hjobe@jobelawpllc.com

                     About Scanrock Oil & Gas

Scanrock Oil & Gas Inc. operates an integrated oil and gas
exploration and production platform.

Scanrock Oil & Gas Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-90001) on Feb. 3,
2025.  In its petition, the Debtor reports estimated assets between
$10 million and $50 million and estimated liabilities between $50
million and $100 million.

Honorable Bankruptcy Judge Mark X. Mullin handles the case.

The Debtor is represented by Thomas Daniel Berghman, Esq., at
Munsch Hardt Kopf & Harr PC.

On March 18, 2025, the U.S. Trustee appointed an official committee
of unsecured creditors.  The committee retained Porter Hedges LLP
as counsel and Riveron RTS LLC as financial advisor.


SDJ MAYPEARL: Case Summary & One Unsecured Creditor
---------------------------------------------------
Debtor: SDJ Maypearl, LLC
        802 Shady Creek
        Kennedale, TX 76060

Business Description: SDJ Maypearl is classified as a single-asset
                      real estate debtor under 11 U.S.C. Section
                      101(51B), with its principal property
                      located at the intersection of Highway 157
                      and Diamondcrest Drive in Maypearl, Texas.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Northern District of Texas

Case No.: 25-42368

Judge: Hon. Mark X Mullin

Debtor's Counsel: Joyce Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  117 S. Dallas St.
                  Ennis TX 75119
                  Tel: 972-503-4033
                  Fax: 972-503-4034
                  Email: Joyce@joycelindauer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Sean Jackson signed the petition in his capacity as manager.

The Debtor identified Jackson Property Company, located at 802
Shady Creek, Kennedale, Texas 76060, as its sole unsecured creditor
with a claim totaling $791,763.

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

https://www.pacermonitor.com/view/BHUU2FA/SDJ_Maypearl_LLC__txnbke-25-42368__0001.0.pdf?mcid=tGE4TAMA


SERENE HEALTH: Seeks to Hire Annette Poche as Manager
-----------------------------------------------------
Serene Health & Wellness, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to employ
Annette Poche, an insider of the Debtor, as manager.

Ms. Poche will manage the day to day business of the Debtor during
the Chapter 11 case.

Ms. Poche will be paid $35 per hour, for a total gross weekly pay
of $1,260.

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.

              About Serene Health & Wellness, LLC

Serene Health & Wellness, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. E.D. La. Case No. 25-11276) on June 17, 2025. The
Debtor hires The De Leo Law Firm LLC as counsel.


SERENE HEALTH: Seeks to Hire De Leo Law Firm LLC as Counsel
-----------------------------------------------------------
Serene Health & Wellness, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to employ
The De Leo Law Firm LLC as legal counsel in its Chapter 11
bankruptcy proceedings.

The firm will be paid at these rates:

     Robin De Leo, Esq.    $390 per hour
     Paralegals            $125 per hour

The Debtor paid the firm a retainer in the amount of $15,000.

As disclosed in the court filings, De Leo Law does not represent or
hold any interest adverse to the Debtor and is a disinterested
party, as defined by the Bankruptcy Code.

The firm can be reached through:

     Robin R. De Leo, Esq.
     The De Leo Law Firm, LLC
     800 Ramon St.
     Mandeville, LA 70448
     Tel: (985) 727-1664
     Fax: (985) 727-4388
     Email: lisa@northshoreattorney.com

              About Serene Health & Wellness, LLC

Serene Health & Wellness, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. E.D. La. Case No. 25-11276) on June 17, 2025. The
Debtor hires The De Leo Law Firm LLC as counsel.


SHARP DEVELOPERS: James Cross Named Subchapter V Trustee
--------------------------------------------------------
The U.S. Trustee for Region 14 appointed James Cross, Esq., at
Cross Law Firm, PLC as Subchapter V trustee for Sharp Developers,
LLC.

Mr. Cross will be paid an hourly fee of $525 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     James E. Cross, Esq.
     Cross Law Firm, PLC
     P.O. Box 45469
     Phoenix, AZ 85064
     Phone: 602-412-4422
     Email: jcross@crosslawaz.com

                    About Sharp Developers LLC

Sharp Developers, LLC holds trust interests in two properties
located at 355 S Nebraska St in Chandler, Arizona, and 3801 N 3rd
St in Phoenix. The combined value of these interests is estimated
at $3.8 million.

Sharp Developers sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-05149) on
June 5, 2025. In its petition, the Debtor reported between $1
million and $10 million in assets and liabilities.

The Debtor is represented by Richard Freeth, Esq., at Omnus Law.


SHERWOOD HOSPITALITY: Seeks to Extend Plan Exclusivity to July 17
-----------------------------------------------------------------
Sherwood Hospitality Group, LLC and DVKOCR Tigard, LLC asked the
U.S. Bankruptcy Court for the District of Oregon to extend their
exclusivity periods to file a plan of reorganization and obtain
acceptance thereof to July 17 and September 15, 2025, respectively.


The Debtors claim that they seek an extension of only thirty days
to have concrete arrangements and details for the proposed
treatment of creditors under the Plan of Reorganization, along with
appropriate timelines and default remedies consistent with the
same. The Debtors have been working in good faith since the
Petition Date towards the resolution of the elements of a Plan of
Reorganization and the expeditious resolution of this case.

In addition, as the respective Monthly Operative Reports
demonstrate, the Debtors are paying their expenses as they come
due. The Debtors need a relatively small amount of time to finalize
arrangements regarding a sale and financing process leading into a
Plan of Reorganization to facilitate the possibility of proposing a
consensual Plan of Reorganization.

The Debtors assert that the requested extension of the Exclusive
Periods is not proposed to pressure creditors and no demands have
been made by the Debtors upon the creditors with respect to a Plan
of Reorganization. There is no prejudice to any creditor's interest
if the Exclusive Periods are extended.

Sherwood Hospitality Group LLC is represented by:
     
     Thomas W. Stilley, Esq.
     Douglas R. Ricks, Esq.
     Sussman Shank, LLP
     1000 SW Broadway, Suite 1400
     Portland, OR 97205
     Telephone: (503) 227-1111
     Facsimile: (503) 248-0130
     Email: tstilley@sussmanshank.com
            dricks@sussmanshank.com

                     About Sherwood Hospitality Group, LLC

Sherwood Hospitality Group LLC, d/b/a Hampton Inn Sherwood
Portland, operating as Hampton Inn Sherwood Portland, is a
hospitality company based in Sherwood, Oregon. The Company manages
a hotel offering amenities like free breakfast, free Wi-Fi, a
heated indoor pool, and a fitness center.

Sherwood Hospitality Group LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Or. Case No. 25-30484) on
February 17, 2025. In its petition, the Debtor reports estimated
assets between $1 million and $10 million and estimated liabilities
between $10 million and $50 million.

Honorable Bankruptcy Judge Peter C. Mckittrick handles the case.

The Debtor is represented by Douglas R. Ricks, Esq., at SUSSMAN
SHANK LLP.


SIB CORP: Cliffwater Corporate Marks $13MM 1L Loan at 31% Off
-------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its
$13,078,622 loan extended to SIB Corp. to market at $9,006,159 or
69% of the outstanding amount, according to CCLFX's Form N-CSR for
the fiscal year ended March 31, 2025, filed with the U.S.
Securities and Exchange Commission.

CCLFX is a participant in a First Lien Term Loan to SIB Corp. The
loan accrues interest at a rate of 8.23% per annum. The loan
matures on April 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 SIB Corp.

SIB Corp. is an independent provider of insurance and consulting
services.


SIB CORP: Cliffwater Corporate Marks $6 Million Loan at 73% Off
---------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $6,043,875
loan extended to SIB Corp. to market at $1,638,128 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 SIB Corp. The loan
accrues interest at a rate of 8.23% per annum. The loan matures on
April 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 SIB Corp.

SIB Corp. is an independent provider of insurance and consulting
services.


SIGNATURE YHM: Seeks to Extend Plan Exclusivity to September 7
--------------------------------------------------------------
Signature YHM Land LLC asked the U.S. Bankruptcy Court for the
Northern District of California to extend its exclusivity periods
to file a plan of reorganization and obtain acceptance thereof to
September 7 and November 6, 2025, respectively.

The Debtor believes the path to reorganization can be achieved
through third-party financing that will allow the Debtor to
immediately start making payments to Secured Creditors on the
allowed portion of their secured claim, as well as a percentage to
unsecured creditors. Without the extension of the exclusivity
period, the Debtor may be forced to deal with a competing plan
during the plan confirmation process.

The Debtor explains that it has worked with its creditors in a
cooperative manner. For any creditors who have requested it, the
Debtor has provided and shared information with those creditors.
Additionally, the Debtor has been communicating with counsel for
Secured Creditors in the hopes of reaching mutually aggreable
payment terms. The Debtor will continue to negotiate with its
creditors so that a consensual plan can be reached.

The Debtor asserts that it is not requesting an extension of the
Plan Deadlines as a tactical device to force creditors to accept a
proposed plan. The Debtor has proposed what it believes to be fair
and equitable terms for payments of creditors' claims. The
extension of time is not to pressure any creditor to submit to any
reorganization demands; the extension is simply a mechanism to
avoid competing plans.

Signature YHM Land LLC is represented by:

     Jeffrey I. Golden, Esq.
     GOLDEN GOODRICH, LLP
     3070 Bristol Street, Suite 640
     Costa Mesa, CA 92626
     Tel: (714) 966-1000
     Fax: (714) 966-1002
     Email: jgolden@go2.law

                    About Signature YHM Land LLC

Signature YHM Land LLC operates in the real estate sector.

Signature YHM Land LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No.: 25-50324) on March 11,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.

The Debtor is represented by Jeffrey I. Golden, Esq. at GOLDEN
GOODRICH LLP.


SILVER STATE: Case Summary & Three Unsecured Creditors
------------------------------------------------------
Debtor: Silver State Hydraulics Services
        1710 Western Avenue
        Las Vegas, NV 89102

Business Description: Silver State Hydraulic Services provides
                      hydraulic and air cylinder repair services,
                      including in-house machining and component
                      fabrication.  The Company operates out of
                      Las Vegas, Nevada, and was founded in 1994.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 25-13746

Judge: Hon. Mike K. Nakagawa

Debtor's Counsel: David J. Winterton, Esq.
                  DAVID WINTERTON & ASSOCIATES, LTD.
                  7881 W. Charleston Blvd., Suite 220
                  Las Vegas, NV 89117
                  Tel: 702-363-0317
                  Fax: 702-363-1630
                  E-mail: autumn@davidwinterton.com

Total Assets: $503,465

Total Liabilities: $14,421,602

The petition was signed by David Habibian as authorized
representative of the Debtor.

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

https://www.pacermonitor.com/view/2VLLJZI/SILVER_STATE_HYDRAULIC_SERVICES__nvbke-25-13746__0001.0.pdf?mcid=tGE4TAMA


SIMPLICITY FINANCIAL: Cliffwater CLFX Marks $9.4MM Loan at 85% Off
------------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $9,476,534
loan extended to Simplicity Financial Marketing Group Holdings,
Inc. to market at $1,401,072 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 Simplicity
Financial Marketing Group Holdings, Inc. The loan accrues interest
at a rate of 9.24% per annum. The loan matures on December 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 Simplicity Financial Marketing Group Holdings, Inc

Simplicity Financial Marketing Group Holdings, Inc. is a partner
for advisors, financial institutions, and consumers by delivering
the best combination of wealth accumulation and financial
solutions.  


SOLAR MOSAIC: States Push to Save Consumer Claims in Ch. 11 Sale
----------------------------------------------------------------
Emlyn Cameron of Law360 Bankruptcy Authority reports that a
coalition of states has urged a Texas bankruptcy judge to preserve
consumer protection claims linked to the assets of home solar loan
provider Solar Mosaic as the company moves forward with its Chapter
11 sale process.

                      About Solar Mosaic

Mosaic is an industry-leading fintech platform for sustainable home
improvements. Founded in 2010, Mosaic is a pioneer in clean energy
lending providing innovative solutions for financing solar, battery
storage, and more. Mosaic has funded $15 billion in loans to date,
helping more than 500,000 households make their homes more
sustainable and efficient.

On June 6, 2025, Mosaic Sustainable Finance Corporation and four
affiliated debtors each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex.
Lead Case No. 25-90156). The cases are pending before the Honorable
Christopher M. Lopez.

The Company tapped Paul Hastings LLP as legal counsel, BRG for
managing director Mark A. Renzi as chief restructuring officer, and
C Street Advisory Group as strategic communications advisor. Kroll,
formerly Prime Clerk LLC, is the claims agent.

Blank Rome LLP is serving as legal counsel and Huron Consulting
Group is serving as financial advisor to Forbright Bank.


SOUTH HILLS: Unsecureds Will Get 1% to 5% in Liquidating Plan
-------------------------------------------------------------
The Official Committee of Unsecured Creditors filed with the U.S.
Bankruptcy Court for the Western District of Pennsylvania a
Combined Disclosure Statement and Plan of Liquidation for South
Hills Operations, LLC and its affiliates dated June 13, 2025.

Prior to the commencement of these cases, thirteen of the OpCo
Debtors operated skilled nursing facilities located in Western
Pennsylvania.

The real property and certain personal property associated with
four of the OpCo Debtors were leased from an affiliated PropCo
entity. Each of the nine PropCo Debtors owned the real property and
substantially all assets leased to certain OpCo Debtors.

On July 1, 2024, the Court approved a private sale of substantially
of the Debtors' Cuarzo Debtor assets. On September 30, 2024, the
Court entered an order granting the approval of the sale of
substantially all of the Maybrook and Consulate Debtors' assets.

Following the approval of the aforementioned sales, a number of
contested matters and disputes (the "Contested Matters") arose
between the Committee, the Debtors, and CIBC Bank, USA ("CIBC" and
together with the Committee and the Debtors referred to as the
"Parties"). On May 23, 2025, the Parties filed a Joint Expedited
Motion for an Order Approving Settlement Pursuant to Rule 9019 of
the Federal Rules of Bankruptcy Procedure and Request for Expedited
Hearing (the "9019 Motion") for the purpose of (i) settling and
resolving the Contested Matters and (ii) facilitating the Plan
Proponent's pursuit in filing and obtaining confirmation of a
chapter 11 plan.

This Combined Plan and Disclosure Statement contemplates that the
Sales of the Debtors' Assets authorized in those certain Sale
Orders entered by the Bankruptcy Court closed before the Combined
Plan and Disclosure Statement became effective. After those Sales
closed (on the Closing Date(s)), various post-petition and certain
prepetition secured claims were paid from the net proceeds of the
Sales. The description of Classes of Secured Claims below includes
certain Classes whose Allowed Secured Claims have been paid in full
at those Closing(s) before this Plan becomes effective.

This Combined Plan and Disclosure Statement also contemplates the
liquidation of the Debtors' Remaining Assets, pursuit of claims
held by the Debtors or the Committee, and the distribution of the
proceeds of the liquidation pursuant to this Combined Plan and
Disclosure Statement. Subject to certain restrictions and
requirements set forth in Section 1127 and Fed. R. Bankr. P. 3019,
the Plan Proponent reserves the right to alter, amend, modify,
revoke, or withdraw this Combined Plan and Disclosure Statement
prior to its substantial consummation.

Class 5 consists of General Unsecured Claims (Classes 5(a), 5(b),
and 5(c)). Allowed General Unsecured Claims asserted against the
Debtors that remain unpaid are estimated to total approximately
$93,431,582.24.

Class 5(a) "General Unsecured Claims" consists of any Claim that is
not an Administrative Claim, Class 2A or 2B Secured Claim, Class 3A
or 3B Secured Claim, Class 4 Secured Claim, Priority Tax Claim,
Intercompany Claim, or Insider Claim. On one or more Distribution
Dates, each Holder of an Allowed General Unsecured Claim shall
receive their Pro Rata share of 45% of the net proceeds of the
Liquidating Trust Assets after the payment of the costs and
expenses of the Liquidating Trust and Liquidating Trustee and the
payment of all Allowed Fee Claims and Allowed Administrative
Claims. This Class will receive a distribution of 1% to 5% of their
allowed claims.

Class 5(b) consists of the "CIBC Deficiency Claim", i.e., not any
Claim that is an Administrative Claim, Class 2A or 2B Secured
Claim, Class 3A or 3B Secured Claim, Class 4 Secured Claim,
Priority Tax Claim, General Unsecured Claim, Intercompany Claim, or
Insider Claim. As set forth in the 9019 Order, upon payment in full
of all Class 5(a) Claims, Class 5(b) Claims shall be entitled to
receive 100%. The obligations to CIBC as the holder of an unsecured
deficiency claim shall be governed by the Liquidating Trust
Agreement. This Class will receive a distribution of less than 1%
of their allowed claims.

Class 5(c) consists of any "Cuarzo Deficiency Claim", i.e., not any
Claim that is an Administrative Claim, Class 2A or 2B Secured
Claim, Class 3A or 3B Secured Claim, Class 4 Secured Claim,
Priority Tax Claim, General Unsecured Claim, Intercompany Claim, or
Insider Claim. Pursuant to that certain Settlement Between Cuarzo
and the Official Committee of Unsecured Creditors for the Debtors,
the "Cuarzo DIP Lender agree[d] that the Committee shall have the
rights to bring and recover all amounts for Chapter 5 claims, D&O
claims, and commercial tort claims (whether such claims constitute
DIP Collateral or not), Cuarzo DIP Lender's liens shall not
encumber such claims or the proceeds of such claims (as approved,
the "Final DIP Order") and the Cuarzo DIP Lender shall not be
otherwise entitled to any proceeds from such claims."

As a result, the Cuarzo DIP Lender will not receive any
distributions under this Combined Plan and Disclosure Statement for
its Class 5(c) Claim. To be clear, treatment of the Cuarzo DIP
Lender's Class 2A Claim shall not affect the Cuarzo DIP Lender's
right to collect accounts receivable as provided under the Final
Cuarzo DIP Order.

In the Plan Proponent's opinion, the funds available as a result of
the 9019 Order and through the Avoidance Actions and Causes of
Action will provide the best opportunity to satisfy the amounts due
and owing to Holders of Administrative Expense Claims, and fund a
partial distribution to holders of Priority Tax Claims and Allowed
General Unsecured Claims. Accordingly, the Plan Proponent believes
that sufficient funds will exist to make the payments required by
the Combined Plan and Disclosure Statement and that the Combined
Plan and Disclosure Statement satisfies the feasibility requirement
of section 1129(a)(11) of the Bankruptcy Code.

A full-text copy of the Combined Plan and Disclosure Statement
dated June 13, 2025 is available at https://urlcurt.com/u?l=5E66NP
from PacerMonitor.com at no charge.

Counsel for the Official Committee of Unsecured Creditors:

     Kirk B. Burkley, Esq.
     David W. Ross, Esq.
     Mason S. Shelton, Esq.
     Bernstein-Burkley, P.C.
     601 Grant Street, 9th Floor
     Pittsburgh, PA 15219
     Tel: (412) 456-8100
     Fax: (412) 456-8135

              About South Hills Operations

South Hills Operations, LLC and its affiliates operate 13 skilled
nursing facilities in Pennsylvania.  While they do not have
identical ownership, there is substantial common ownership among
the various debtor entities, and they are affiliates of one
another.

The Debtors filed Chapter 11 petitions (Bankr. W.D. Pa. Lead Case
No. 24-21217) on May 17, 2024, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities. Judge Carlota
M. Bohm oversees the cases.

The Debtors tapped Whiteford Taylor & Presto and Bass, Berry &
Sims, PLC as legal counsels; Ankura Consulting, LLC as
restructuring advisor; and Blueprint Healthcare Real Estate
Advisors, LLC and Cummings and Co. Realtors, LLC as financial
advisors.

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 Bernstein-Burkley, P.C.

Margaret Barajas is the patient care ombudsman appointed in the
Debtors' cases.


SPD II MAKAIWA: Unsecureds to Get 1% to 5% in Secured Lender's Plan
-------------------------------------------------------------------
Corban Kauai Chicago Lender, LLC, a secured lender, submitted a
Fourth Amended Disclosure Statement describing Fourth Amended Plan
of Liquidation for Debtor SPD II Makaiwa Resort Development, LLC
dated June 13, 2025.

The purpose of the Amended Plan and Disclosure Statement is to
provide for an orderly wind-down of the Debtor's Estate and to
distribute the remaining proceeds of the sale and any other cash,
property, or interests that the Debtor retained following
consummation of the sale to the holders of Allowed Claims in
accordance with the terms of the Amended Plan and Disclosure
Statement and the claims priority provisions of the Bankruptcy
Code.

At the confirmation hearing, the Plan Proponent will seek an order
from the Bankruptcy Court seeking approval of the Amended Plan,
which will, in part, appoint the Plan Administrator. The Plan
Administrator will be required to file the Property 363 Motion and
the Property Bidding Procedures Motion both of which must be filed
within 10 business days of the Confirmation Order. The Plan
Administrator will file the Property 363 Motion and the Property
Bidding Procedures Motion in a form and manner that is acceptable
to the Plan Proponent and the Stalking Horse Bidder, if applicable.
The Property 363 Motion and the Property Bidding Procedures Motion
will provide for a sale of the Property free and clear of all
liens, claims, and interests, pursuant to section 363(f) of the
Bankruptcy Code and find that the purchaser of the Property is a
good faith purchaser pursuant to section 363(m) of the Bankruptcy
Code.

Additionally, the Property 363 Motion will provide the Stalking
Horse Bidder with a customary break-up fee of 1.5% and an expense
reimbursement claim of 1.0%, both of which shall be paid to the
Stalking Horse Bidder at the Sale Closing if the Stalking Horse
Bidder is not the purchaser. The Property 363 Motion will also
require a marketing period of 30 days pursuant to which higher and
better offers will be accepted pursuant to the certain bidding
procedures approved in connection with the Property Bidding
Procedures Motion.

The marketing of the Property will be conducted by Colliers, a
broker familiar with the Property and with marketing property on
the island. Colliers is familiar with the Property and has led
various marketing efforts for years, only to be interrupted by the
Debtor's various bankruptcy proceedings. Colliers' marketing
proposal will be detailed in the Property Bidding Procedures
Motion.

Class 5 consists of General Unsecured Claims. Class 5 consists of
any Claim that is not an Administrative Claim, Fee Claim, Priority
Tax Claim, Secured Real Estate Tax Claim, Lender Secured Claim,
Other Secured Claim, or an Equity Interest. Each holder of an
Allowed General Unsecured Claim shall be paid pro rata from the
Creditor Carve Out after the distribution of amounts due to Non
Real Estate Tax Priority Claims, up to the full amount of their
Allowed Claims.

The Plan Proponent expects Allowed Claims in Class 5 to receive 1%
to 5% recovery.

Class 6 includes the holders of Equity Interests in the Debtor.
Such holders shall receive any remaining proceeds of Sale after
payment of all Allowed Claims.

Because the Amended Plan proposes a liquidation of all of the
Debtor's assets, for purposes of this test, the Plan Proponent has
analyzed the ability of the Debtor to meet its obligations under
the Amended Plan. Based on this analysis, the estate will have
sufficient assets to accomplish its tasks under the Amended Plan.
Therefore, the Plan Proponent believes that the liquidation
pursuant to the Amended Plan will meet the feasibility requirements
of the Bankruptcy Code.

A full-text copy of the Fourth Amended Disclosure Statement dated
June 13, 2025 is available at https://urlcurt.com/u?l=VLRWtq from
PacerMonitor.com at no charge.

Counsel for Plan Proponent:

     REED SMITH LLP
     Robert B. McLellarn, Esq.
     Reed Smith LLP, Esq.
     10 S. Wacker Drive, 40th Floor
     Chicago, IL 60606
     Telephone: (312) 207-1000
     Email: rmclellarn@reedsmith.com

     Joseph J. Tuso, Esq.
     Reed Smith LLP
     1717 Arch Street, Suite 3100
     Philadelphia, PA 19103
     Philadelphia, PA 19103
     E-Mail: jtuso@reedsmith.com

     Jared S. Roach, Esq.
     Reed Smith LLP
     225 Fifth Avenue, Suite 1200
     Pittsburgh, PA 15222
     Telephone: (412) 288-3131
     E-Mail: jroach@reedsmith.com

                   SPD II Makaiwa Resort Development

SPD II Makaiwa Resort Development, LLC, sought protection for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill.
Case No. 23-07153) on May 31, 2023, with as much as $1 million in
both assets and liabilities.

Judge David D. Cleary oversees the case.

Laxmi P. Sarathy, Esq., and David R. Herzog, Esq., serve as the
Debtor's bankruptcy attorneys.


SPRING VALLEY: Seeks Chapter 11 Bankruptcy in New Jersey
--------------------------------------------------------
On June 26, 2025, Spring Valley Partners LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the District of New
Jersey. According to court filing, the Debtor reports between $1
million and $10 million in debt owed to 1 and 49 creditors. The
petition states funds will be available to unsecured creditors.

           About Spring Valley Partners LLC

Spring Valley Partners LLC operates as a single-asset real estate
entity under the definition set by 11 U.S.C. Section 101(51B). The
Company is primarily engaged in leasing residential buildings and
dwellings, focusing on the management and rental of housing
properties.

Spring Valley Partners LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-16770) on June 26,
2025. In its petition, the Debtor reports estimated assets between
$500,000 and $1 million and estimated liabilities between $1
million and $10 million.

Honorable Bankruptcy Judge Vincent F. Papalia handles the case.

The Debtors are represented byErnest Ianetti, Esq. at ERNEST G.
IANETTI, ESQ.


STEWARD HEALTH: Massachusetts Seeks $52MM of Unpaid Hospital Fees
-----------------------------------------------------------------
James Nani of Bloomberg Law reports thatMassachusetts is urging the
court to reject a bid by bankrupt Steward Health Care System LLC to
downgrade a $52.1 million payment owed to the state, arguing the
funds were intended to support a health-care safety net program.

In a June 27, 2025 filing with the U.S. Bankruptcy Court for the
Southern District of Texas, the commonwealth argued that Steward's
motion to reclassify the amount from priority tax and
administrative claims to general unsecured claims would leave
Massachusetts with little to no recovery.

"This motion represents yet another attempt by Steward to shirk its
obligations to the Commonwealth while continuing to benefit from
the funds it received," the state said.

                     About Steward Health Care

Steward Health Care System, LLC, owns and operates the largest
private physician-owned for-profit healthcare network in the U.S.
Headquartered in Dallas, Texas, Steward's operations include 31
hospitals in eight states, approximately 400 facility locations,
4,500 primary and specialty care physicians, 3,600 staffed beds,
and nearly 30,000 employees. Steward Health Care provides care to
more than two million patients annually.

Steward and 166 affiliated debtors filed Chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 24-90213) on May 6, 2024. Judge
Christopher M. Lopez oversees the proceeding.

The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy
counsel; McDermott Will & Emery as special corporate and regulatory
counsel; AlixPartners, LLP as financial advisor and John Castellano
of AlixPartners as chief restructuring officer. Lazard Freres & Co.
LLC, Leerink Partners LLC, and Cain Brothers, a division of KeyBanc
Capital Markets Inc., provide investment banking services to the
Debtors. Kroll is the claims agent.

Susan N. Goodman has been appointed as patient care ombudsman in
the Debtors' Chapter 11 cases.


SUPERIOR INSURANCE: Cliffwater CLFX Marks $3.9MM Loan at 69% Off
----------------------------------------------------------------
Cliffwater Corporate Lending Fund (CCLFX) has marked its $3,984,500
loan extended to Superior Insurance Partners LLC to market at
$1,247,456 or 31% 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 Superior Insurance
Partners LLC. The loan accrues interest at a rate of 9.30% per
annum. The loan matures on October 25, 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 Superior Insurance Partners LLC

Superior Insurance Partners LLC is a growing insurance brokerage
platform that partners with, invests in, and supports
well-established insurance brokerages.


SYNERGY MEDICAL: Seeks Subchapter V Bankruptcy in Florida
---------------------------------------------------------
On June 27, 2025, Synergy Medical Services LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Florida. According to court filing, the Debtor reports between
$1 million and $10 million in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

           About Synergy Medical Services LLC

Synergy Medical Services LLC provides home healthcare services
across Florida. The Company offers skilled nursing, specialized
nursing services, physical therapy, and home health aides. Its team
of registered nurses and therapists delivers in-home care focused
on professional, round-the-clock support.

Synergy Medical Services LLC sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No.
25-30599) on June 27, 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 Karen K. Speci handles the case.

The Debtors are represented by Byron W. Wright III, Esq. at BRUNER
WRIGHT, P.A.


TBOTG DEVELOPMENT: Seeks to Sell Comal County Property in Auction
-----------------------------------------------------------------
TBOTG Development, Inc., d/b/a The Bluffs on the Guadalupe seeks
approval from the U.S. Bankruptcy Court for the Western District of
Texas, Austin Division, to sell real property, free and clear of
liens, claims, and encumbrances.

The Debtor is in the business of owning, developing for sale, and
selling lots and homesites upon the real property located at Lots
1-24, 26, 27, 29-34, 36-40, 47, 49-52 of THE BLUFFS ON THE
GUADALUPE, a subdivision in Comal County, Texas, according to the
map or plat of record in Document No. 202306009245, of the MAP and
PLAT records of Comal County, Texas.

The Debtor seeks to sell substantially all of its real property and
related assets for the benefit of creditors and interest holders,
including but not limited to through the services of Hilco Real
Estate, LLC as the Debtor's proposed sale agent.

The Debtor has scheduled the Property as having an alleged value of
$32,100,000.00 and reserves all of
its rights regarding the value of the Property.

The Debtor believes that the Estate holds substantial equity in the
Property and understands that this proposition is undisputed by
parties in interest and that Hilco concurs with same.

The Debtor received an appraisal of the Property as of August 1,
2024, from Lone Star Appraisals and Realty, Inc., which appraised
the "as is" market value of the Property in the amount of
$25,100,000. Additionally, the Sale Agent has affirmed that a 75
day marketing period is reasonably sufficient to achieve market
value.

The Property is subject to The County of Comal, Texas ad valorem
tax claims in the amount of $338,138.36.

In addition to potential tax liens, the Debtor and its foregoing
real Property asset was subject to a senior lien securing the claim
of the pre-petition lender First Texas Bank (FTB), Georgetown,
Texas.

The proposed timeline for the proposed Sale is as follows:

-- July 10, 2025 Initial Hearing (Confirmation Hearing)
-- July 16, 2025 Following Entry of Bid Procedures Order, Debtor
Serves Notice of Bid Procedures and Final Sale Hearing
-- July 25, 2025 Debtor to File Schedule of Executory Contracts
-- Aug. 20, 2025 Deadline to Object to Cure Amounts, Assumption /
Assignment of Executory Contracts (other than based on identity of
Purchaser)
-- Sept. 30, 2025 5:00 p.m. (Central) Bid Deadline
-- Oct. 2, 2025 12:00 p.m. (Central) Sale Agent to Notify Qualified
Bidders of any Auction
-- Oct. 6, 2025 5:00 p.m. (Central) Deadline for Receipt of
Qualified Bidder's Earnest Money Deposit submitted to Designated
Escrow Agent (2.5%) percent of bidder's highest Qualified Bid)
-- October 7, 2025 10:00 a.m. (Central) Auction conducted by Sale
Agent (at Munsch Hardt Kopf & Harr,
P.C., 1717 West 6th Street, Suite 250, Austin, Texas 78703), and
via Zoom
-- October 10, 2025 Debtor files and serves notice of Successful /
Back Up Bidder
-- October 17, 2025 Deadline to Object to Sale Based, or to
Assignment of Executory Contracts based on identity of proposed
purchaser
-- Week of October 27, 2025 (by 10/31/25) Final Sale Hearing
-- TBD 15 Bus. Days Following Sale Order Entry Deadline for
Successful Bidder Closing
-- TBD 5 Bus. Days Following Notice to Back Up Bidder Deadline for
Back Up Bidder Closing (Debtor to provide notice upon expiration of
Successful Bidder Closing deadline)

The Debtor proposes bid procedures with a bid deadline on September
30, 2025 5:00 p.m. Central time.

In particular, the proposed Sale process presumes that all
Qualified Bidders are sophisticated users and developers of real
property.

In the event that there are multiple Qualified Bids, an auction
shall be conducted. By no later than October 2, 2025, the Sale
Agent shall notify all Qualified Bidders who have made Qualified
Bids, in writing (including via e-mail), of their qualification to
participate in the Auction (if any), and the corresponding
obligation to fund the Deposit corresponding to the Qualifying
Bidders' highest and best Qualifying Bid to the Debtor by no later
than October 6, 2025, prior to the Auction and as a condition of
attending same.

The Auction shall be conducted October 7, 2025, at the offices of
the Debtor's counsel, Munsch Hardt Kopf & Harr, P.C., 1717 West 6th
Street, Suite 250, Austin, Texas 78703, and shall commence at 10:00
a.m. (Central time)

The Deposit of each Qualified Bidder that is not selected as
Successful Bidder or Back Up Bidder shall be refunded by the Debtor
within three business days of the Closing of the Sale, provided
however that the Deposit of the Back Up Bidder shall be returned
within three business days of the closing of the Sale to the
Successful Bidder. Notwithstanding the foregoing, in the event that
the Successful Bidder fails to close the Sale and its successful
bid by no later than 5:00 p.m. (prevailing Central Time) on the
first date that is 15 business days following entry of the Final
Sale Order, other than for a reason determined by the Court to be
entirely beyond the bidder's control, such approved Successful
Bidder's Deposit, limited to the amount of $500,000.00, shall
automatically be entirely forfeited and retained by the Debtor for
the benefit of the Estate and for all purposes, as damages, and the
Debtor may, in its sole discretion, notify the Back Up Bidder and
proceed to close the designated prevailing back up bid with the
Back Up Bidder. If the Back Up Bidder does not close the Sale under
its back up bid by no later than 5:00 p.m. (prevailing Central
Time) on the first date that is five business days following the
Debtor's delivery of the Back Up Notice to the Back Up Bidder,
other than for a reason determined by the Court to be entirely
beyond the bidder's control, the Debtor shall retain the Back Up
Bidder's Deposit, limited to the amount of $500,000.00, entirely
for the benefit of the Estate and for all purposes, as damages.

Objections to the Sale, but excluding any objection based on the
identity of the proposed purchaser, are required to be filed as an
objection to this Motion by no later than August 20, 2025.

Any objection to the Sale based on the identity of the proposed
purchaser, must be filed and served upon the Debtor by no later
than October 17, 2025. The Debtor will seek to resolve any and all
such objections before / by the Bankruptcy Court at the Final Sale
Hearing to the extent not previously resolved but reserves all
rights to seek an intervening hearing in advance of the Final Sale
Hearing to consider objections filed by the August 20, 2025
(proposed) deadline.

The Debtor believes that the foregoing notice and procedures are
reasonably calculated to provide timely and adequate notice of the
Bid Procedures, the Auction, the Sale, and the Final Sale Hearing.

             About TBOTG Development, Inc.

TBOTG Development, Inc., owns and operates The Bluffs on The
Guadalupe, a subdivision in Comal County, Texas, having an
appraised value of $32.1 million.

TBOTG Development filed a Chapter 11 petition (Bankr. W.D. Texas
Case No. 24-10411) on April 16, 2024, with $35,996,538 in total
assets and $22,885,007 in total liabilities. William T. Korioth,
president, signed the petition.

Judge Shad Robinson oversees the case.

Kell C. Mercer, PC and Armbrust & Brown, PLLC serve as the Debtor's
bankruptcy counsel and special litigation counsel, respectively.


TELLICO RENTALS: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------
Tellico Rentals, LLC received interim approval from the U.S.
Bankruptcy Court for the Eastern District of Tennessee to use cash
collateral.

The interim order entered on June 30 authorized the Debtor to use
up to $73,200 in cash collateral to pay operating expenses in
accordance with its budget, subject to a 20% variance by category.

The Debtor's cash collateral consists of rental income generated
from 40 rental units located in Tellico Plains, Tennessee. Mary
Jane Saunders, a secured creditor, asserts an interest in the
property.

As protection, Ms. Saunders will be granted a post-petition lien on
her existing collateral and collateral created after the petition
date.

To the extent the secured creditor is later determined to be
inadequately protected, she is entitled to seek administrative
priority afforded by Sections 507(a)(2) and 507(b) of the
Bankruptcy Code.

Meanwhile, the Debtor was ordered to escrow funds each month equal
to the pro rata monthly amount of annual real property taxes into
the trust account of its legal counsel, Tarpy, Cox, Fleishman &
Leveille, PLLC.

A final hearing is set for July 17.

The Debtor owes approximately $9 million to Ms. Saunders whose loan
is secured by a deed of trust and an assignment of rents from the
real estate holdings. The Debtor intends to use the rental proceeds
to cover ongoing operational expenses while it works to liquidate
assets and pay down the secured debt.

The Debtor argued that no adequate protection payments to Ms.
Saunders are necessary because she is sufficiently protected by an
equity cushion in the properties, which are not depreciating in
value.

                  About Tellico Rentals LLC

Tellico Rentals, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 3:25-bk-31173-SHB) on
June 19, 2025. In the petition signed by Mohit Mankad. Manager, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Suzanne H. Bauknight oversees the case.

Edward J. Shultz, Esq., at Tarpy, Cox, Fleishman & Leveille, PLLC,
represents the Debtor as legal counsel.


TEXSTAR LUMBER: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: TexStar Lumber, Inc.
        Attn: Mohamed Zubair Abdul Aleem
        5925 Fm 1003 Rd S
        Kountze, TX 77625-8223

Business Description: TexStar Lumber, Inc. is engaged in the
                      lumber manufacturing business and operates a
                      facility in Kountze, Texas.

Chapter 11 Petition Date: June 30, 2025

Court: United States Bankruptcy Court
       Eastern District of Texas

Case No.: 25-10296

Debtor's Counsel: Lloyd A. Lim, Esq.
                  KEAN MILLER LLP
                  711 Louisiana Street, Suite 1800 South Tower
                  Houston TX 70002
                  Tel: (713) 844-3070
                  E-mail: Lloyd.Lim@keanmiller.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mohamed Zubair Abdul Aleem as operating
manager of the Debtor.

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/4S63IPA/TexStar_Lumber_Inc__txebke-25-10296__0001.0.pdf?mcid=tGE4TAMA


TIDEWATER INC: Fitch Assigns 'B+' LongTerm IDR, Outlook Stable
--------------------------------------------------------------
Fitch Ratings has assigned Tidewater, Inc. a first-time 'B+'
Long-Term Issuer Default Rating (IDR). Additionally, Fitch has
assigned a 'BB-' rating to the company's proposed senior unsecured
notes with a Recovery Rating of 'RR3' and a 'BB+'/'RR1' rating to
the senior secured RCF. The Rating Outlook is Stable.

Tidewater's ratings reflect the successful launch of the proposed
unsecured notes, simplified capital structure and extended maturity
profile following repayment of existing debt. The ratings are also
supported by the company's large, high-quality fleet, global
operations which provide diversification benefits, forecast
positive FCF, adequate liquidity and 2.0x mid-cycle EBITDA
leverage.

These factors are partially offset by the high volatility in day
rates, vessel utilization and EBITDA generation within the offshore
space and management's history of debt-funded M&A financing.

Key Rating Drivers

Proposed Notes Simplify Capital Structure: Fitch views Tidewater's
proposed senior secured notes issuance favorably, as it will enable
the company to repay existing term loan facilities and refinance
the 8.500% secured notes and 10.375% unsecured notes. This will
simplify the capital structure and extend the maturities to 2030.
The new $250 million secured RCF will also mature in 2030 and
provide additional liquidity, which Fitch expects the company will
use minimally throughout the base case. The extended maturity
profile gives Tidewater ample time to generate FCF and pursue
potential bolt-on acquisitions.

Large, High-Quality Fleet: Fitch believes Tidewater's
industry-leading scale, diversification and focus on large,
high-spec vessels will drive high utilization and strong margins in
the near term. The company operates the world's largest offshore
service vessel (OSV) fleet, with 214 vessels, and leads in
high-spec deadweight tonnage (DWT). High-spec vessels provide
advanced capabilities, serve a wider customer base, generate
stronger margins and are more efficient than lower spec vessels.
Fitch expects Tidewater to maintain strong high-spec utilization
given generally tight OSV supply and a supportive oil price
backdrop.

Diversified Portfolio, Global Operations: Tidewater served
customers in 35 countries over the last 12 months and the company
maintains strong relationships with the largest international and
national oil companies. The company is present in every major
offshore oil & gas basin in the world, including Brazil, the Gulf
of Mexico, Middle East, West Africa, the North Sea, Southeast Asia
and Australia. This gives Tidewater the option to mobilize vessels
away from weaker regions, unlike peers more focused on one
geography.

Favorable Industry Trends; Tight Supply: Fitch expects U.S.
offshore vessel supply to remain tight through 2026, which supports
Tidewater's day rates and fleet utilization rates. Increased
offshore capital spending by E&P's and limited visibility on vessel
newbuilds should support the OSV market in the near to medium term.
Vessel supply remains restricted given long three-year lead times,
declining shipyard capacity, and higher day rates needed to justify
newbuilds over acquisitions. Fitch expects these favorable industry
dynamics to persist through 2026, with modest declines in
utilization and day rates in 2027, consistent with its Brent oil
price assumptions.

Forecast Positive FCF: Fitch projects positive FCF through the base
case given favorably industry fundamentals and manageable capex and
drydocking expenses. Tidewater should be able to re-price expiring
vessel contracts and engage in spot rate activity at supportive day
rates, which should enhance near-term profitability and cash flow.
Fitch believes management will utilize excess FCF for M&A activity
and for potential shareholder returns.

Debt-Funded Acquisitions: Fitch views management's fully
debt-funded Solstad acquisition in 2023 negatively, as it
meaningfully increased gross debt and weakened leverage metrics.
Although the deal was accretive to Tidewater's portfolio and cash
flow, gross debt increased from $170 million in 2022 to $645
million at 1Q25. Tidewater has de-levered via approximately $100
million of gross debt reduction during 2024 and increased EBITDA
generation, which can exhibit meaningful volatility through
industry cycles.

2.0x Mid-Cycle Leverage: Fitch's base case forecasts gross leverage
of 1.2x in 2025, increasing toward 2.0x in 2028.This is due to
expected modest declines in dayrates and utilization starting in
2027, in line with its long-term Brent oil price assumptions, which
approach $60 Brent in 2028. Fitch does not forecast any material
M&A activity in its base case; however, potential debt-funded M&A
activity could temporarily reduce headroom under the company's
leverage sensitivities and pressure ratings. Management maintains a
maximum post-M&A net leverage threshold of 2.0x and would plan to
de-lever immediately after an acquisition.

Peer Analysis

Tidewater's peers include offshore drillers Valaris Limited
(B+/Stable), Seadrill Limited (B+/Stable) and Noble Corp. plc
(BB-/Stable) and onshore driller Precision Drilling Corp.
(BB-/Stable). Tidewater compares most closely to the offshore
drillers, as their supply and demand drivers are largely correlated
and are subject to offshore E&P capital spending.

In terms of EBITDA scale, Tidewater is slightly larger than
Seadrill and Precision Drilling in the near term. It is similar in
scale to Valaris, but much smaller than Noble, which currently
benefits from the strong recovery in the floater market and
significant backlog with Exxon Mobil Corporation and Aker BP ASA.
Like Precision Drilling and Noble, Tidewater has a more consistent
track record of positive FCF, projected to continue through the
base case.

Fitch projects peer group leverage will remain at or below 2.5x
under the mid-cycle price deck. Both Tidewater and Noble have
recently completed moderately leveraging transactions, reducing
their headroom under leverage sensitivities.

Key Assumptions

- Brent oil price of $65/bbl in 2025-2027 and $60/bbl thereafter;

- Successful bond offering with proceeds used to refinance existing
debt;

- Flat revenue growth in 2025, moderate growth in 2026 followed by
a revenue decline in 2027-2029;

- EBITDA margins maintained above 40% through 2026, followed by
declines thereafter;

- Capex and drydock expense of $150 million in 2025 and dropping to
$100 million thereafter as TDW exits its elevated drydock cycle;

- Excess cash allocated to share buybacks;

- No material M&A activity.

Recovery Analysis

- The recovery analysis assumes Tidewater would be reorganized as a
going-concern (GC) in a bankruptcy rather than liquidated;

- Fitch has assumed a 10% administrative claim.

Going-Concern Approach

Tidewater's GC EBITDA estimate of $150 million reflects Fitch's
view of sustainable, post-reorganization EBITDA, upon which the
agency bases the enterprise valuation. The GC EBITDA assumption for
commodity price-sensitive issuers at a cyclical peak reflects the
industry's move from top of the cycle commodity prices to midcycle
conditions and intensifying competitive dynamics. Fitch's stress
case assumptions for Brent oil prices are $35/bbl in 2025, $45/bbl
in 2026 and $48/bbl for the long term.

The GC EBITDA assumption reflects Fitch's EBITDA estimates for a
partial recovery after the trough year in the stress case, which
represents an emergence from a prolonged commodity price decline.
The company's post-emergence2018 EBITDA of $107 million is slightly
lower than this amount as the company has closed two material M&A
transactions since. Tidewater eliminated $1.598 billion of debt
(78% of total debt) in bankruptcy and wrote down the book value of
its PP&E from $3.0 billion to $600 million (20% value remaining)
post-emergence.

An enterprise value multiple of 5.0x is applied to the GC EBITDA to
calculate a post-reorganization enterprise value. The choice of
this multiple considers the following factors:

- The historical bankruptcy case study exit multiples for peer
energy oilfield service companies have a wide range with a median
of 6.1x. The oil fi eld service sub-sector ranges from 2.2x to
42.5x due to the more volatile nature of EBITDA swings in a
downturn.

- Tidewater's high exposure to offshore drilling support and
oilfield applications that exhibits meaningful volatility in demand
and requires continual capital investment to maintain leading-edge
vessels.

Liquidation Approach

The liquidation estimate reflects Fitch's view of the value of
balance sheet assets that can be realized in sale or liquidation
processes conducted during a bankruptcy or insolvency proceeding
and distributed to creditors.

Fitch assigns a liquidation value to each vessel based on
management discussions, comparable market transaction values, and
upgrade and new building cost estimates. Different values are
applied to higher and lower quality vessels.

Fitch assumes the secured credit facility will be fully drawn upon
default. The value allocation in the liability waterfall results in
a recovery corresponding to 'RR1' for the secured credit facility
and 'RR3' for the senior unsecured notes.

RATING SENSITIVITIES

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

- Failure to complete the refinancing as proposed;

- Deteriorating market fundamentals including a sustained decrease
in day rates and vessel utilization;

- Inability to generate FCF that weakens the liquidity profile;

- Significant increases in gross debt or overly debt-funded M&A;

- Midcycle EBITDA leverage above 3.0x.

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

- Sustained improvement in earnings visibility and/or pricing power
shown by decreased cash flow volatility across the cycle;

- Conservative financial policies, including credit-friendly M&A
funding;

- Midcycle EBITDA leverage below 2.0x.

Liquidity and Debt Structure

Tidewater will maintain full availability under its new $250
million secured revolver and is projected to hold over $300 million
of cash on the balance sheet following the proposed unsecured notes
issuance. The liquidity profile will be further supported by
Fitch's expectation for positive FCF through the base case and
minimal use of the revolver. Fitch believes the company's primary
use of cash on hand and FCF will be for potential M&A opportunities
and opportunistic share buybacks.

Issuer Profile

Tidewater is the largest OSV operator in the world, providing
marine and transportation services to the global offshore energy
industry. The company offers a fleet of 214 vessels serving
customers in over 35 countries worldwide in the last 12 months.

Date of Relevant Committee

18 June 2025

MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS

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

ESG Considerations

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

   Entity/Debt              Rating           Recovery   
   -----------              ------           --------   
Tidewater Inc.        LT IDR B+  New Rating

   senior unsecured   LT     BB- New Rating    RR3

   senior secured     LT     BB+ New Rating    RR1


TOP MOBILITY SCOOTERS: Seeks Subchapter V Bankruptcy in Florida
---------------------------------------------------------------
On June 26, 2025, Top Mobility Scooters Inc. filed Chapter 11
protection in the U.S. Bankruptcy Court for the Middle District of
Florida. According to court filing, the Debtor reports between $1
million and $10 million in debt owed to 50 and 99 creditors. The
petition states funds will be available to unsecured creditors.

           About Top Mobility Scooters Inc.

Top Mobility Scooters Inc. is a company specializing in mobility
scooters and related equipment for individuals with mobility
limitations. Based in Hudson, Florida, the company operates through
its website www.topmobility.com and appears to provide
healthcare-related mobility solutions in the 'Other Healthcare
Services' industry category.

Top Mobility Scooters Inc. sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-04323) on June 26, 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 Roberta A. Colton handles the case.

The Debtors are represented by Michael A. Stavros, Esq. at Jennis
Morse.


TRAC CONSTRUCTION: Seeks Subchapter V Bankruptcy in New York
------------------------------------------------------------
On June 27, 2025, TRAC Construction Group Inc. filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District of
New York. According to court filing, the Debtor reports between
$500,000 and $1 million in debt owed to 1 and 49 creditors. The
petition states funds will be available to unsecured creditors.

           About TRAC Construction Group Inc.

TRAC Construction Group Inc. is a commercial construction company
focusing on infrastructure projects in New York City.

TRAC Construction Group Inc. sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No.
25-43105) on June 27, 2025. In its petition, the Debtor
reports estimated assets between $1 million and $10 million and
estimated liabilities between $500,000 and $1 million.

Honorable Bankruptcy Judge Nancy Hershey Lord handles the case.

The Debtors are represented by Michael L. Walker, Esq. at The Law
Office Of Michael Walker.


TRINITY LEGACY: Court Extends Cash Collateral Access to July 7
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Mexico issued an
order authorizing Trinity Legacy Consortium, LLC to continue using
cash collateral through July 7.

Trinity was authorized to use cash collateral to pay the expenses
set forth in its budget, with a 10% variance. The company projects
total expenses of $165,700 for July and $170,500 for August.

As protection for the use of their cash collateral, the U.S. Small
Business Administration and Forward Financing were granted
replacement liens on post-petition assets, to the same extent and
with the same priority as their pre-bankruptcy liens.

In addition, Trinity was ordered to make monthly payments of $750
to the SBA and $2,000 to Forward Financing, LLC.

                  About Trinity Legacy Consortium

Trinity Legacy Consortium, LLC operates a construction and home
building business with locations in Farmington, New Mexico, and
Wallowa, Oregon.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.M. Case No. 22-10973) on December 7,
2022. In the petition signed by Jan Swift and Jacob Swift, managing
members, the Debtor disclosed up to $500,000 in assets and up to $1
million in liabilities.

Judge Robert H. Jacobvitz oversees the case.

The Debtor is represented by:

   Don F. Harris, Esq.
   New Mexico Financial Law
   Tel: 505-503-1637
   Email:nmfl@nmfinanciallaw.com

   -- and --

   Dennis A. Banning, Esq.
   New Mexico Financial Law
   Tel: 505-503-1637
   Email: nmfl@nmfinanciallaw.com


TRIPLE L TRANSPORT: Seeks Subchapter V Bankruptcy in Indiana
------------------------------------------------------------
On June 26, 2025, Triple L Transport LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Southern District
of Indiana. According to court filing, the Debtor reports up to
$50,000 in debt owed to 1 and 49 creditors. The petition states
funds will be available to unsecured creditors.

           About Triple L Transport LLC

Triple L Transport LLC is a specialized freight trucking company
based in Greenfield, Indiana that likely provides transportation
services for specialized cargo requiring dedicated equipment or
handling. Operating in the transportation industry with NAICS code
4842 (Specialized Freight Trucking), the company appears to
maintain a fleet that includes Freightliner and Peterbilt trucks
for its freight operations.

Triple L Transport LLC sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind.Case No. 25-03729)
on June 26, 2025. In its petition, the Debtor reports estimated
assets between $500,000 and $1 million and estimated liabilities up
to $50,000.

Honorable Bankruptcy Judge Andrea K. Mccord handles the case.

The Debtors are represented by KC Cohen, Esq. at Kc Cohen, Lawyer,
PC.


TRUE FOUNDATIONS: Seeks Chapter 11 Bankruptcy in Texas
------------------------------------------------------
On June 30, 2025, True Foundations Non Denominational Church filed
Chapter 11 protection in the U.S. Bankruptcy Court for the Northern
District of Texas. According to court filing, the Debtor reports
between $100,000 and $500,000 in debt owed to 1 and 49 creditors.
The petition states funds will be available to unsecured
creditors.

           About True Foundations Non Denominational Church

True Foundations Non Denominational Church is a religious
organization operating in Dallas, Texas.

True Foundations Non Denominational Church sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No.
25-32429) on June 30, 2025. In its petition, the Debtor
reports estimated assets and liabilities between $100,000 and
$500,000 each.

Honorable Bankruptcy Judge Scott W. Everett handles the case.


TWIN CITIES: Daniel Etlinger Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 21 appointed Daniel Etlinger of
Underwood Murray, P.A. as Subchapter V trustee for Twin Cities
Family Practice, P.A.

Mr. Etlinger will be paid an hourly fee of $350 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Daniel E. Etlinger
     Underwood Murray, P.A.
     100 N. Tampa Street, Suite 2325
     Tampa Florida 33602
     (813) 540-8401
     Email: detlinger@underwoodmurray.com

                 About Twin Cities Family Practice

Twin Cities Family Practice, P.A. filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Fla. Case No.
25-30539) on June 10, 2025, with $50,001 to $100,000 in assets and
$500,001 to $1 million in liabilities.

Judge Karen K. Specie presides over the case.

Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor
as bankruptcy counsel.


TZADIK SIOUX: Hires 605 Real Estate LLC as Broker
-------------------------------------------------
Tzadik Sioux Falls Portfolio I, LLC and its affiliates seek
approval from the U.S. Bankruptcy Court for the Southern District
of Florida to employ 605 Real Estate LLC as broker.

The firm will market and sell the Debtor's real properties, a 1,600
residential apartment units in 28 separate developments located in
Sioux Falls, South Dakota.

The firm will be paid at a fee in an amount equal to 1.75 percent
of the final purchase price of each of the Sioux Falls Properties
with an additional 1 percent payable, for a total of 2.75 percent,
for each property after achieving $150,000,000 in closed sales.

Brad Stearns, a partner at 605 Real Estate LLC, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Brad Stearns
     605 Real Estate LLC
     3500 W 59th St.
     Sioux Falls, SD 57108
     Tel: (605) 789-1492
     Email: brad@605advantage.com

              About Tzadik Sioux Falls Portfolio I

Tzadik Sioux Falls Portfolio I, LLC possesses several multi-family
properties in Sioux Falls, SD.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-13865) on April 9,
2025. In the petition signed by Adam Hendry, authorized
representative, the Debtor disclosed $65 million in assets and
$46.775 million in liabilities.

Judge Peter D. Russin oversees the case.

Morgan Edelboim, Esq., at Edelboim Lieberman, PLLC, represents the
Debtor as legal counsel.


UPHEALTH HOLDINGS: Ch. 11 Mediation Halted Due to Bad Faith Dispute
-------------------------------------------------------------------
Emlyn Cameron of Law360 Bankruptcy Authority reports that the
mediation in Uphealth Holdings Inc.'s Chapter 11 case has come to a
standstill after the court-appointed mediator cited last-minute
complications involving a party suspected of acting in bad faith.

            About UpHealth Holdings

UpHealth Holdings Inc. is a global digital health company
delivering technology platforms, infrastructure, and services to
modernize care delivery and health management.

UpHealth Holdings and its affiliates sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 23-11476) on
Sept. 19, 2023. In the petitions filed by Samuel J. Meckey, chief
executive officer, UpHealth Holdings disclosed up to $500 million
in both assets and liabilities.

Judge Laurie Selber Silverstein oversees the cases.

The Debtors tapped Stuart M. Brown, Esq., at DLA Piper LLP (US) as
counsel; Morrison & Foerster LLP as litigation counsel; and FTI
Consulting, Inc. as financial advisor. Omni Agent Solutions is the
Debtors' claims agent and administrative agent.


UPPER ROOM: Leon Jones of Jones & Walden Named Subchapter V Trustee
-------------------------------------------------------------------
The U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones
& Walden, LLC, as Subchapter V trustee for Upper Room Church.

Mr. Jones will be paid an hourly fee of $500 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Leon S. Jones, Esq.
     Jones & Walden, LLC
     699 Piedmont Ave. NE
     Atlanta, GA 30308
     Phone: (404) 564-9300
     Email: ljones@joneswalden.com

                      About Upper Room Church

Upper Room Church filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-56507) on June
11, 2025, with up to $50,000 in assets and between $100,001 and
$500,000 in liabilities.

Judge Lisa Ritchey Craig presides over the case.

Brad Fallon, Esq., at Fallon Law, PC represents the Debtor as
bankruptcy counsel.


URBAN GIS: Ira Bodenstein Named Subchapter V Trustee
----------------------------------------------------
The U.S. Trustee for Region 11 appointed Ira Bodenstein as
Subchapter V trustee for Urban GIS, Inc.

Mr. Bodenstein will be paid an hourly fee of $500 for his services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

                       About Urban GIS Inc.

Urban GIS Inc. filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08878) on June
11, 2025, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.

Judge Jacqueline P. Cox presides over the case.

Stanley M. Jackson, Esq., at Jackson Melton, LLC represents the
Debtor as legal counsel.


VAIL RESORTS: S&P Rates New $400MM Senior Unsecured Notes 'BB-'
---------------------------------------------------------------
S&P Global Ratings assigned its '5' recovery rating and 'BB-'
issue-level rating to Vail Resorts Inc.'s proposed $400 million
senior unsecured notes due 2030 (one notch lower than the 'BB'
long-term issuer credit rating). Concurrent with the transaction,
Vail plans to reduce its senior secured delayed draw term loan
(DDTL) commitment to $350 million from $450 million. Vail intends
to use the proceeds from this offering to repay borrowings under
its revolving credit facility incurred to fund the repurchase of
$200 million of its outstanding shares of common stock completed in
June 2025 and the repurchase or repayment of a portion of its
outstanding convertible senior notes due 2026 at or prior to their
maturity on January 1, 2026. The '5' unsecured recovery rating is
unchanged, although the planned reduction in secured debt modestly
increases the residual value available to unsecured lenders despite
the proposed increase in unsecured debt. Pro forma for the
transaction, S&P expects Vail will end fiscal year 2025 with
leverage of around 3.5x.

All of S&P's other ratings on Vail, including the 'BB' issuer
credit rating and stable outlook, are unchanged.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors:

-- S&P's 'BB-' issue-level rating and '5' recovery rating on Vail
Resorts' senior unsecured debt, inclusive of its $600 million
senior unsecured notes due 2032 and the proposed $400 million
senior unsecured notes due 2030, indicate its expectation for
modest (10%-30%; rounded estimate: 15%) recovery in the event of a
payment default.

-- S&P assumes Whistler Blackcomb and Andermatt-Sedrun will be
treated as unrestricted nonguarantor subsidiaries with a 65% stock
pledge to Vail Resorts Inc. and that Peak Resorts will be treated
as a nonguarantor subsidiary with a 100% stock pledge to Vail
Resorts Inc.

Vail Resorts' unsecured lenders benefit from modest unpledged
residual equity value (35%) from Whistler Blackcomb and
Andermatt-Sedrun because our estimated distressed value of the
subsidiary assets exceed subsidiary debt claims. There is no
residual value generated from Peak Resorts assets given significant
amounts of outstanding debt at the subsidiary.

S&P said, "We assume in our recovery analysis Vail draws down all
$350 million of its downsized delayed draw term loans to partially
repay its $525 million outstanding subordinated convertible notes
due January 2026.

"Our simulated default scenario considers a payment default by 2030
due to prolonged economic weakness, significantly reduced consumer
discretionary spending, and a downturn in leisure travel.

"We assume a reorganization following default and use an emergence
EBITDA multiple of 7x to value the company."

Simulated default assumptions:

-- Year of default: 2030
-- EBITDA at emergence: $333 million
-- EBITDA multiple: 7x

Simplified waterfall:

-- Net enterprise value after administrative expenses (5%): $2.21
billion

-- Obligor/nonobligor split: 79%/15%/3/3%

-- Estimated secured debt claims: $1.72 billion

-- Value available for secured debt claims: $1.86 billion

-- Estimated unsecured debt claims: $1.03 million

-- Value available for unsecured debt claims: $204 million

    --Recovery expectation: 10%-30% (rounded estimate: 15%)

All debt amounts include six months of prepetition interest.



VENTURE GLOBAL: S&P Assigns Prelim 'BB+' Rating on Secured Notes
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' preliminary rating to Venture
Global Plaquemines LNG LLC's proposed issuance of $2.5 billion
senior secured notes.

S&P Global Ratings also assigned a '3' recovery rating to the
debt.

S&P said, "The notes are rated under our project finance criteria,
under which the rating is determined by the stand-alone credit
profile (SACP) for the construction or operating phases of the
project--whichever is lower.

"We based the rating on the SACP of the construction phase, which
benefits from an advanced stage of construction that reduces the
risk of delays and cost overruns.

"The stable outlook reflects our expectation that the project's
construction will proceed on time and on budget with phase 2
anticipated to enter operations in mid-2027."

Venture Global Plaquemines LNG LLC (VGPL or the project) consists
of a natural gas liquefaction and export facility in Plaquemines
Parish, La., and the associated Gator Express Pipeline for natural
gas supply to the project. Venture Global LNG Inc. (VGLNG;
BB-/Stable/--) has developed and commercialized the project in two
phases. The first phase consists of the pipelines, equipment, and
facilities to support liquefied natural gas (LNG) production of
13.3 million tons annually (tpa). Phase 2 consists of the
facilities to support incremental production of 6.7 million tpa.
When both phases are complete, the project will have an aggregate
nameplate capacity of 20 million tpa and will consist of 36
liquefaction train modules, four LNG storage tanks, six
pretreatment systems, three loading berths, two 720 megawatt
combined-cycle power plants, a marine offloading facility, and the
pipeline.

Construction risk has largely been mitigated based on the advanced
stage of construction. The project experienced some early
construction delays with respect to its power island and
pretreatment modules. However, the project sponsor descoped some of
the work under the existing construction contracts and took direct
responsibility for this work. This ensured that the project had
sufficient temporary power to allow construction and commissioning
to continue. In addition, work on the pretreatment modules has
accelerated through the sponsor's intervention to mitigate further
delays. The incremental cost of this work was funded with further
equity injections from the sponsor and income produced from
commissioning cargos.

At this stage, the project benefits from the building program being
very advanced with relatively small amounts of capex remaining. The
project is producing cash flow from the first 20 trains that are in
commissioning as of April 30, 2025, which provides a significant
source of funds to complete the project and provide additional
equity should any further problems arise. In addition, the project
uses the same technology and design as its sister project, Venture
Global Calcasieu Pass LLC (VGCP), which entered commercial
operations on April 15, 2025.

The project has a high level of contractedness with strong
counterparties. The project is supported by 20-year contracts on
19.7 million tpa with a shorter-term contract for the remaining
300,000 tpa. All of the contracts contain a lifting fee, which
consists of a fixed percentage above Henry Hub as well as a fixed
capacity fee. The fixed capacity fee is payable regardless of
whether cargos are lifted. This contractual structure creates a
highly resilient long-term cash flow. In addition, S&P notes the
project entered into short-term contracts for a portion of the
cargos that will be lifted during the commissioning process. Cash
flow resiliency is further supported by the underlying credit
strength of the revenue offtakers. The weighted-average credit
assessment of the revenue offtakers is 'A-'.

Potential for excess capacity could enhance cash flow. The project
has a total nameplate capacity of 20 million tpa, although it has a
guaranteed capacity of 22.5 million tpa. The sponsors have
indicated that based on design enhancements made since VPCP was
built, the plant will be able to support higher production. Initial
performance testing (based on cargos that have been lifted since
December) and further modeling have suggested that production could
be as high as 27.2 million tpa. The project has entered into sales
and purchase agreements with Venture Global Commodities LLC, a
wholly owned subsidiary of VGLNG for any production above 20
million tpa. Given that commissioning only commenced during the
past six months, S&P has modeled excess capacity of 1.375 million
tpa (95% of guaranteed production of 22.5 million tpa). Overall,
the strong contractual framework, along with the potential for
incremental revenue from excess capacity, creates a robust cash
flow.

S&P said, "The stable outlook considers both the construction and
operating risk of the project. Construction is significantly
advanced, which we have incorporated into our rating analysis. The
project benefits from proven technology and design. In addition,
once the project is constructed, cash flow will be robust and
supported by a strong contractual foundation with predominantly
investment-grade counterparties.

"We could take a negative rating action if the project experiences
unforeseen delays that threaten the scheduled substantial
completion date such that costs increase beyond the mitigations
provided in the project forecast.

"We are unlikely to raise the rating during construction. We could
take a positive rating action around the time commercial operation
starts if forecast cash flow remains consistent with our current
base case such that the minimum debt service coverage ratio (DSCR)
is at or above 1.25x."


VICARA GROUP: Katharine Battaia Clark Named Subchapter V Trustee
----------------------------------------------------------------
The U.S. Trustee for Region 6 appointed Katharine Battaia Clark of
Thompson Coburn, LLP as Subchapter V trustee for The Vicara Group,
LLC.

Ms. Clark will be paid an hourly fee of $525 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Katharine Battaia Clark
     Thompson Coburn, LLP
     2100 Ross Avenue, Ste. 3200
     Dallas, TX 75201
     Office: 972-629-7100
     Mobile: 214-557-9180
     Fax: 972-629-7171
     Email: kclark@thompsoncoburn.com

                       About The Vicara Group

The Vicara Group, LLC filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 25-42109) on
June 9, 2025, with up to $50,000 in assets and between $100,001 and
$500,000 in liabilities.

Judge Mark X. Mullin presides over the case.

Robert Thomas DeMarco, Esq., represents the Debtor as legal
counsel.


VIEWSTAR LLC: Gets $21.5MM Stalking Horse Bid from K&K Developers
-----------------------------------------------------------------
Yun Park of Law360 Bankruptcy Authority reports that Viewstar LLC,
a bankrupt New Jersey office building owner backed by New York
developer Moshe Gold, told a New York bankruptcy court it has
received a $21.5 million stalking horse offer from K&K Developers
Inc.

                   About Viewstar LLC

Viewstar LLC is the owner of real property located at 10
Mountainview Road, Upper Saddle River, New Jersey 07458.

Viewstar LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 24-22716) on August 15, 2024. In the
petition filed by Lee E. Buchwald, as restructuring officer, the
Debtor reports estimated assets and liabilities between $10 million
and $50 million each.

The Honorable Bankruptcy Judge Sean H. Lane handles the case.

The Debtor is represented by Paul Rubin, Esq. and Hanh V. Huynh,
Esq. at RUBIN LLC.


VIRGINIA BEACH: Court Extends Cash Collateral Access to July 29
---------------------------------------------------------------
Virginia Beach Patios, Inc. received another extension from the
U.S. Bankruptcy Court for the Eastern District of Virginia, Norfolk
Division, to use its secured lenders' cash collateral.

The court's order authorized the Debtor's interim use of cash
collateral through July 29 in accordance with its budget, with a
125% variance allowed.

The budget projects total monthly operational expenses of
$195,548.43.

The Debtor may utilize cash collateral to pay post-petition
expenses, including payroll to the extent it has sufficient funds
after accounting for payments to secured creditors as listed in the
budget.

The secured lenders are the U.S. Small Business Administration and
Fora Financial. These lenders will be granted replacement liens on
the Debtor's cash collateral generated and assets acquired after
the petition date, including the proceeds thereof, with the same
priority as their pre-bankruptcy liens.

As additional protection, SBA and Fora Financial will continue to
receive monthly payments of $600 and $500, respectively. The
monthly payments started in April.

The Debtor must remain current on all post-petition payroll and
withholding taxes
and was ordered to pay $265 in interest payments per month to the
Internal Revenue Service.

A final hearing is scheduled for July 29.

As of the petition date, the Debtor owed approximately $30,911.83
and $242,350 to SBA and Fora Financial, respectively.

As security for the loans, the Debtor granted the lenders a
security interest in its assets, including accounts receivable owed
to the Debtor, which constitutes the lenders' cash collateral. This
cash collateral is valued at $37,507.86 as of the petition date.

                     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. It is committed to delivering high-quality
craftsmanship and creating functional, beautiful environments that
enhance the homeowner's outdoor experience. With personalized
service and innovative designs, the Company transforms ordinary
yards into extraordinary outdoor retreats.

Virginia Beach Patios filed Chapter 11 petition (Bankr. E.D. Va.
Case No. 25-70478) on March 7, 2025, listing $186,926 in assets and
$1,233,715 in liabilities. Angela Marie Rose, president of Virginia
Beach Patios, signed the petition.

Judge Frank J. Santoro oversees the case.

The Debtor is represented by:

   Carolyn Anne Bedi, Esq.
   Bedi Legal, P.C.
   Tel: 757-222-5842
   Email: carolyn@bedilegal.com


VSM PROPERTIES: Gets Interim OK to Use Cash Collateral
------------------------------------------------------
VSM Properties, LLC received interim approval from the U.S.
Bankruptcy Court for the Eastern District of Tennessee to use cash
collateral.

The interim order entered on July 1 authorized the Debtor to use up
to $28,299.94 in cash collateral to pay operating expenses in
accordance with its budget, subject to a 20% variance by category.

The Debtor's cash collateral consists of rental income in whicb
secured creditors, Mary Jane Saunders and Grassland Financial
Services, LLC, assert an interest.

As protection for the Debtor's use of their cash collateral, the
secured creditors will be granted a post-petition lien on their
existing collateral and collateral created after the petition
date.

To the extent the secured creditors are later determined to be
inadequately protected, they are entitled to seek administrative
priority afforded by Sections 507(a)(2) and 507(b) of the
Bankruptcy Code.

Meanwhile, the Debtor was ordered to escrow funds each month equal
to the pro rata monthly amount of real property taxes into the
account of its legal counsel, Tarpy, Cox, Fleishman & Leveille,
PLLC.

A final hearing is set for July 17.

The Debtor owes approximately $9 million to Ms. Saunders, secured
by deeds of trust and an assignment of rents from the properties.
It is also indebted to Grassland for about $270,000, secured by
additional real estate. The Debtor requested permission to use
rental income, which constitutes cash collateral to pay for
operating expenses during the liquidation process.

The Debtor does not propose to make adequate protection payments to
creditors, arguing they are sufficiently protected by equity in the
properties and that the value of the real estate is not decreasing.
The Debtor asserts it cannot continue operations or restructure
without access to rental income.

                     About VSM Properties LLC

VSM Properties LLC is a real estate management company based in
Tellico Plains, Tennessee. It owns commercial properties in the
area, including the riverside building at 1641 Cherohala Skyway.

VSM Properties LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31124) on June 12,
2025. In its petition, the Debtor reports estimated assets between
$500,000 and $1 million and estimated liabilities between $10
million and $50 million.

Honorable Bankruptcy Judge Suzanne H. Bauknight handles the
case.

The Debtors are represented by Edward J. Shultz, Esq., at Tarpy,
Cox, Fleishman & Leveille, PLLC.


VYRIPHARM BIOPHARMACEUTICALS: Continued Operations to Fund Plan
---------------------------------------------------------------
Vyripharm Biopharmaceuticals Inc. filed with the U.S. Bankruptcy
Court for the Southern District of Texas an Amended Subchapter V
Plan of Reorganization dated June 13, 2025.

The Debtor is a manager managed Delaware limited liability company
which acts for a holding company for its parent company, Vyripharm
Enterprises, Inc.

The Debtor's managers are Dr. Jerry Bryant and Samuel Daffin. The
primary purpose of the formation of the Debtor was to develop
therapeutic and diagnostic drugs utilizing traditional and
alternative medicines for the identification, diagnosis, and
treatment of cardiovascular diseases through funding by Vyripharm
Enterprises.

The filing of the Bankruptcy Case was prompted by two judgments
that were entered against the Debtor by its former counsel and
placement agency: Ian Martin Limited dba Sterling Life Services v.
Vripharm Biopharmaceuticals, Inc., file in the 333rd Judicial
District of Harris County, Texas and McGuireWoods LLP v. Vyripharm
Biopharmaceuticals, Inc. filed in the 157th Judicial District of
Harris County, Texas.

Class 3 shall consist of Allowed Priority Unsecured Claim held by
the Texas Comptroller of Public Accounts. In full satisfaction, the
Texas Comptroller of Public Accounts shall receive payment of its
Allowed Claim on or before August 31, 2025. Class 3 is impaired
under the Plan. Claimants in Class 4 are entitled to vote on the
Plan.

Class 4 shall consist of Allowed Priority Unsecured Claims held by
the Ian Martin Limited dba Sterling Life Services ($52,000.00),
McGuireWoods LLP ($699,004.97), and the Texas Comptroller of Public
Accounts ($100.00). In full satisfaction, Claimants in Class 4
shall receive payment of their Allowed Claims on or before January
31, 2027 according to the following payment scheduled attached as
Exhibit 2. Class 4 is impaired under the Plan. Claimants in Class 4
are entitled to vote on the Plan.

The payments contemplated in this Plan shall be funded from the
postpetition operations of the Debtor through the Effective Date.
The Debtor shall receive its development funding and funding to pay
all Claims of the estate from Vyripharm Enterprises, Inc.
commencing June or July 2025 with all claims of the estate to be
paid in full no later than January 31, 2027.

A full-text copy of the Amended Subchapter V Plan dated June 13,
2025 is available at https://urlcurt.com/u?l=OPTCLk from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Brendon Singh, Esq.
     Tran Singh LLP
     2502 La Branch Street
     Houston, TX 77004
     Telephone: (832) 975-7300
     Facsimile: (832) 975-7301
     Email: bsingh@ts-llp.com

                    About Vyripharm Biopharmaceuticals

Vyripharm Biopharmaceuticals Inc. is a leading
biopharmaceutical/biotechnology innovator in personalized
medicine.

Vyripharm Biopharmaceuticals Inc. sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-30395) on
January 27, 2025. In its petition, the Debtor reports estimated
assets up to $50,000 and estimated liabilities between $50,000 and
$100,000.

Judge Jeffrey P. Norman handles the case.

The Debtor is represented by Susan Tran Adams, Esq. at Tran Singh
LLP.


W.D. TOWNLEY: Court OK's Truck & Trailer Sale to Craig's Ranch
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, has approved W.D. Townley Lumber Co., Inc., d/b/a/
Townley Lumber Co. (Townley Lumber) and its affiliates, Townley
Pallet Manufacturing, LLC (TPM) and TLC Transportation, L.L.C.
(TLC), to sell trucks and trailers, free and clear of liens,
claims, and encumbrances.

The Debtors are headquartered in Henderson, Texas where they
conduct their lumber milling operations. Townley Lumber mills
lumber for construction of pallets. TPM owns the real property upon
which milling operations are conducted. TLC Transportation hauls
pallets by the truckload to customer locations.

Townley Lumber is owed by Billy Joe Townley and his daughter,
Aleigh Townley, and owns one hundred percent of TPM which in turn
owns one hundred percent of TLC.

The Court has authorized the Debtors to sell 21 semi-trucks and
trailers to Craig's Ranch LLC for the sum of $383,315.10. Details
of the trucks and trailers can be found at
https://urlcurt.com/u?l=IHRJfU

The Court also approved Townley Lumber to enter into a a Freight
Transportation Agreement with HMS Equip LLC.

The Court further held that the sale of the Assets will be free and
clear of all liens, claims, interests and encumbrances, with all
liens, claims, interests and encumbrances following and attaching
to the proceeds of sale.

The sale of the Assets to Purchaser is without warranty and on an
"as is, where is," subject to all defects basis.

           About  About W.D. Townley Lumber Co., Inc. d/b/a Townley
Lumber Co.

W.D. Townley and Son Lumber Company Inc. and affiliates operate a
lumber milling business. Townley Lumber processes lumber used for
pallet construction. TPM owns the property where the milling
operations take place. TLC Transportation transports pallets in
truckloads to customer locations.

W.D. Townley and Son Lumber Company Inc. sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case
No. 25-41053) on March 26, 2025. In its petition, the Debtor
reports estimated assets and liabilities between $1 million and $10
million each.

Honorable Bankruptcy Judge Edward L. Morris handles the case.

The Debtor is represented by Joseph Fredrick Postnikoff, Esq. at
ROCHELLE McCULLOGH, LLP.


WARNER BROS: Non-Boycott Clauses Pose Legal Risks, ELFA Warns
-------------------------------------------------------------
Dana El Baltaji and Rose Henderson of Bloomberg Law reports that a
European credit investor group has raised concerns over Warner
Bros. Discovery Inc.'s recent debt terms, warning they could
undermine bondholder rights.

The European Leveraged Finance Association (ELFA) criticized the
inclusion of "non-boycott" clauses in the company's latest debt
documentation, calling them a "negative development" that could
restrict investor coordination. ELFA stated that efforts to block
cooperation or lock-up agreements among bondholders should not be
considered an acceptable market standard, according to Bloomberg
Law.

The warning comes as Warner Bros. restructures its debt amid plans
to separate into two entities: a slower-growing cable network
business and a faster-expanding streaming and studio division, the
report states.

                 About Warner Bros. Discovery

Warner Bros. Discovery (WBD) is a global media and entertainment
company that provides a portfolio of content, brands, and
franchises across television, film, streaming, and gaming outlets.


WEST RIVER: Seeks to Hire David T. Cain as Attorney
---------------------------------------------------
West River House, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Texas to employ David T. Cain as
attorney.

The firm will provide these services:

     a. advise the Debtor as to it's rights, duties, and powers as
Debtor-in-Possession;

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

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

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

The firm will be paid at the rate of $300 per hour.

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

Mr. Cain 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:

     David T. Cain, Esq.
     8626 Tesoro Dr., Ste. 811
     San Antonio, TX 78217
     Tel: (210) 308-0388
     Fax: (210) 503-5033
     Email: caindt@swbell.net

              About West River House LLC

West River House LLC qualifies as a single-asset real estate debtor
under the definition provided in 11 U.S.C. Section 101(51B).

West River House LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51153) on May 28,
2025. In its petition, the Debtor reports estimated liabilities of
$2,271,454.

Honorable Bankruptcy Judge Michael M. Parker handles the case.

The Debtors are represented by David Cain, Esq. at LAW OFFICE OF
DAVID T CAIN.


WOLFSPEED INC: Enters Chapter 11 With Prepackaged Plan
------------------------------------------------------
Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide
technologies, said it has sought Chapter 11 bankruptcy protection
to implement its prepackaged plan.

Wolfspeed expects to move through the process expeditiously and
emerge by the end of the third quarter calendar year 2025.

As previously reported, the Company has reached a Restructuring
Support Agreement ("RSA") with key lenders, including (i) holders
of more than 97% of its senior secured notes, (ii) Renesas
Electronics Corporation's wholly owned U.S. subsidiary and (iii)
convertible debtholders holding more than 67% of the outstanding
convertible notes.

Upon emergence from the process, the Company expects to have
reduced its overall debt by 70%, representing a reduction of
approximately $4.6 billion and a reduction of its annual total cash
interest payments by 60%.

By taking this proactive step, the Company expects to be better
positioned to execute on its long-term growth strategy and
accelerate its path to profitability.  Wolfspeed is continuing to
operate as usual throughout the process, including delivering
silicon carbide materials and devices to its customers and paying
its vendors in the ordinary course.

"We are continuing to move forward with our accelerated
restructuring process to strengthen our capital structure and fuel
our next phase of growth," said Robert Feurle, Wolfspeed's Chief
Executive Officer.  "With a stronger financial foundation,
Wolfspeed will be better positioned to move faster on our strategic
priorities and maintain our position as a global leader in the
silicon carbide market.  The strong support of our lenders is a
testament to their belief in our business and our ability to
capitalize on the opportunities ahead, driven by our exceptional,
purpose-built, fully automated 200mm manufacturing footprint."

He continued, "Looking ahead, we remain laser-focused on delivering
cutting-edge products to our customers and working with our vendors
in the normal course.  I'd also like to thank our employees for
their hard work and continued commitment to driving the business
forward.  I am confident that taking this action will better
position Wolfspeed to meet the growing demands of the semiconductor
market."

Wolfspeed has filed a number of customary motions with the Court to
support ordinary-course operations, including, but not limited to,
continuing employee compensation and benefits programs.  The
Company is continuing to pay vendors in the ordinary course of
business for goods and services delivered throughout the
restructuring process via an All-Trade Motion. Vendors are expected
to be unimpaired in the process. The Company expects to receive
court approval for these requests shortly.

                      About Wolfspeed Inc.

Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap
semiconductors, focused on silicon carbide materials and devices
for power applications.  Its product families include silicon
carbide materials and power devices targeted for various
applications such as electric vehicles, fast charging and renewable
energy and storage.

On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each
filed petitions seeking relief under chapter 11 of the United
States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163),
with Judge Christopher M. Lopez presiding.  The Debtors sought
Chapter 11 protection after reaching a deal with lenders on a
debt-for-equity plan that would reduce debt by $4.6 billion.

Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as
legal counsel to Wolfspeed, Perella Weinberg Partners is serving as
financial advisor and FTI Consulting is serving as restructuring
advisor.  Epiq is the claims agent.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal
counsel to the senior secured noteholders and Moelis & Company is
serving as the senior secured noteholders' financial advisor.

Kirkland & Ellis LLP is serving as legal counsel to Renesas
Electronics Corporation, PJT Partners is serving as its financial
advisor, and BofA Securities is serving as its structuring advisor.


Ropes & Gray LLP is serving as legal counsel to the convertible
debtholders and Ducera Partners is serving as financial advisor to
the convertible debtholders.


ZAMA&ZAMA INC: Gets Interim OK to Use Cash Collateral Until Aug. 12
--------------------------------------------------------------------
Zama & Zama Inc. received interim approval from the U.S. Bankruptcy
Court for the District of Nevada to use cash collateral pending a
final hearing on August 12.

The court's order authorized the Debtor's interim use of cash
collateral from June 18 to August 12 to pay operating expenses in
accordance with its budget, with a 10% variance. Notwithstanding
the half monthly payments reflected in the budget to the U.S. Small
Business Administration, the Debtor is required to make full
monthly payments of $731 to the agency.

SBA and Bank of America will be provided with protection in the
form of valid and perfected replacement security interests in and
liens on the Debtor's assets and the proceeds thereof; and a
superpriority claim under Section 507(b) against the Debtor and its
estate.

In addition, the Debtor has to make monthly payments of $731 to SBA
and $6,010.61 to Bank of America. Meanwhile, Shopify will continue
to recieve payments in accordance with its contract with the
Debtor.

The Debtor reported approximately $2 million in secured debt,
$800,000 in unpaid rent, and around $4 million in general unsecured
claims, including $2.5 million owed to Settle, Inc.

The key secured creditors include SBA owed about $136,000; Bank of
America owed nearly $399,000; Shopify Capital/WebBank, owed
approximately $330,000; and Clearco, with a claim of roughly
$225,000. Each lender holds a perfected security interest in
certain business assets or receivables, but none hold perfected
control over the Debtor's cash accounts.

                        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.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No. 25-13501) on June 18,
2025. In the petition signed by Vladi Bergman, president and chief
executive officer, the Debtor disclosed up to $10 million in both
assets and liabilities.

Judge August B. Landis oversees the case.

Matthew C. Zirzow, Esq., at Larson & Zirzow, LLC, represents the
Debtor as legal counsel.


ZARA LLC: Seeks Cash Collateral Access
--------------------------------------
Zara, LLC asked the U.S. Bankruptcy Court for the Northern District
of West Virginia, Martinsburg Division, for authority to use cash
collateral and retroactive approval for prior use of cash
collateral.

The cash collateral in question is subject to secured creditors'
interests and was used for essential upkeep, maintenance, and
repair of estate property necessary to preserve the value of the
estate.

The Debtor acknowledges that some funds were previously spent
without prior court approval but asserts they were used in good
faith exclusively for the benefit of the estate. The Debtor intends
to supplement the motion with detailed documentation, including
expense reports, receipts, and bank statements.

The Debtor argued that no secured creditors were harmed by the use
of the cash collateral and that the expenditures actually preserved
or enhanced the value of the secured assets. If the court finds
that additional adequate protection is needed, the Debtor is
willing to comply.

                          About Zara LLC
  
Zara LLC is the fee simple owner of seven properties located in
Maryland, West Virginia, and Virginia having a total current value
of $2.40 million (based on sales comparison and zillow.com
estimate).

Zara sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. N.D.W. Va. Case No. 24-00637) on December 10, 2024, listing
total assets of $2,463,213 and total liabilities of $1,620,000.
Ruby Mir, owner and sole member of Zara, signed the petition.

Judge David L. Bissett oversees the case.

The Debtor is represented by Bobbie Vardan, Esq., at Morris Palerm,
LLC.


[] Paul Labov Willkie Farr's Restructuring Practice as Partner
--------------------------------------------------------------
Willkie Farr & Gallagher LLP on July 1 announced that restructuring
attorney Paul Labov has joined the Firm as a partner. He is based
in Willkie's New York office.

Brett Miller, U.S. Co-Chair of the Restructuring Department,
commented: "Paul is a highly-regarded adviser in the restructuring
space. He brings significant experience in creditor committee
representations that complements the work of our industry-leading
team, which has advised UCCs in several recent high-profile
bankruptcy cases.  We are excited to welcome him to Willkie and to
bolster the capabilities of our global platform."

Mr. Labov has more than 20 years of experience in chapter 11
bankruptcy cases and out-of-court workouts, including representing
official creditors' committees, ad hoc creditor groups, trade
vendors, landlords and trustees. He also advises private equity
firms in the purchase and sale of distressed debt and assets. His
practice includes restructuring cases involving nationally
recognized companies and brands across wide range of industries,
including retail, energy, manufacturing and healthcare. He has also
contributed to numerous industry publications on a wide range of
bankruptcy topics. Mr. Labov joins Willkie from Pachulski Stang
Ziehl & Jones, where he was a partner.

Mr. Labov commented: "I'm thrilled to join Willkie's top-tier
global restructuring team. The Firm's collaborative, client-focused
culture suits my practice well and I look forward to working with
its talented group of practitioners to deliver impactful solutions
for our clients."

Willkie's Restructuring Department is a global practice comprised
with market-leading capabilities in all aspects of business and
financial restructurings and insolvency matters. It represents a
broad spectrum of clients in the U.S., U.K., France, Germany and
other key European jurisdictions.

Willkie Farr & Gallagher LLP -- https://www.willkie.com -- provides
legal solutions on complex, business critical issues spanning
markets and industries. Its more than 1,200 attorneys across 15
offices worldwide deliver legal services across approximately 45
practice areas.



                            *********

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.

The single-user TCR subscription rate is $1,400 for six months
or $2,350 for twelve months, delivered via e-mail.  Additional
e-mail subscriptions for members of the same firm for the term
of the initial subscription or balance thereof are $25 each per
half-year or $50 annually.  For subscription information, contact
Peter A. Chapman at 215-945-7000.

                   *** End of Transmission ***