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250711.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, July 11, 2025, Vol. 29, No. 191 Headlines 121 NORTH COMMON: Voluntary Chapter 11 Case Summary 1522 C STREET:Seeks Subchapter V Bankruptcy in D.C. 1600 WESTERN: Seeks to Hire Michael J. Flynn as Real Estate Agent 1918 CONSTANCE STREET: Seeks Subchapter V Bankruptcy in Louisiana 23ANDME HOLDING: DNA Assets Set for Sale Despite Objections 315 MANHATTAN PROPERTIES: Seeks Chapter 11 Bankruptcy in New York 315 MANHATTAN: Voluntary Chapter 11 Case Summary 5220 TROOST: To Sell Kansas Property to T53 Project for $7.5MM 604 ESPLANADE: Seeks Subchapter V Bankruptcy in Louisiana 604 ESPLANADE: Voluntary Chapter 11 Case Summary 8 BUILDINGS LLC: Voluntary Chapter 11 Case Summary 901 MERRICK ROAD: Seeks Chapter 11 Bankruptcy in New York 901 MERRICK ROAD: Voluntary Chapter 11 Case Summary ADC AND T LLC: Case Summary & 20 Largest Unsecured Creditors AFM MATTRESS: July 14 Deadline for Panel Questionnaires AIO US: Plan Exclusivity Period Extended to September 8 ARC-IV LLC: Case Summary & Seven Unsecured Creditors ARC-IV LLC: Seeks Subchapter V Bankruptcy in California ARCHDIOCESE OF NEW ORLEANS: Hires Signal as Noticing Consultant AUXILIARY OPERATIONS: July 14 Hearing to Use Cash Collateral AZUL S.A.: Secures Court Okay to Proceed with Restructuring Plan B. RILEY FINANCIAL: Revises Senior Credit Line w/ Oaktree BLUE DUCK: Seeks to Hire Lain Faulkner & Co. as Financial Advisor BLUE DUCK: Seeks to Hire Munsch Hardt Kopf & Harr as Counsel BROADWAY REALTY: Hires Weil Gotshal & Manges LLP as Attorney BROADWAY REALTY: Seeks to Tap FTI Consulting as Financial Advisor BUFNY II ASSOCIATES: 7 New York Properties Up for Sale on July 29 CAREERBUILDER + MONSTER: Chapell Hired to Monitor Asset Sale CELESTIAL PRODUCTS: To Sell Non-Cash Property to Hatch Chili Store CHARTER SCHOOL: Gets Interim OK to Obtain DIP Loan From East West CK BUILDERS: Seeks to Tap Langley & Banack as Bankruptcy Counsel CLAIRE'S STORES: Considers Possible Bankruptcy for U.S. Operations CMC ADVERTISING: Seeks to Hire Diller and Rice as Legal Counsel CRYSTAL BASIN: Hires Folsom Hall Investors Inc. as Realtor CTLC LLC: To Sell Howard Property to Isaac Birmingham for $2.6MM DECCURE GROUP: Seeks Chapter 11 Bankruptcy in Florida DEL MONTE: Wins Interim OK for DIP Loans from Wilmington, JPMorgan DELTA QUAD: Hires Bankruptcy Law Center as Legal Counsel DIAMOND COMIC: TwoMorrows Objects to Bankruptcy Stock Liquidation DIOCESE OF SAN DIEGO: Jeff Anderson Updates List of Abuse Claimants DON ENTERPRISES: Taps Howard Hanna Real Estate Services as Broker DOS LAGOS: Hires Weintraub Zolkin Talerico & Selth as Counsel DRIVERTECH LLC: Case Summary & 20 Largest Unsecured Creditors DRIVERTECH LLC: Seeks Chapter 11 Bankruptcy in Utah EXACTECH INC: Examiner Hires Sawyer & Nelson P.A. as Counsel FERNANDEZ P. ENTERPRISE: Seeks Chapter 11 Bankruptcy in Florida FORTRESS INTERMEDIATE: S&P Affirms 'B' ICR on Refinancing FRED RAU: Gets OK to Use Cash Collateral Until July 31 FTX TRADING: To Eliminate Broad Future Claims to Protect Resources FUSION SPONSOR: Del. Chancery Court to Approve $12.75M Settlement GENESIS HEALTHCARE: Case Summary & 30 Largest Unsecured Creditors GENESIS HEALTHCARE: Receives Stalking Horse Offer From ReGen GENESIS HEALTHCARE: Seeks Chapter 11 Bankruptcy in Texas GIANT WASH: Hires Dickinson Bradshaw Fowler & Hagen as Counsel GIANT WASH: Hires Franklin Capital Advisors as Financial Advisor GRAY MEDIA: S&P Rates New Senior Secured Second-Lien Notes 'CCC' GREEN TERRACE: Trustee Hires Development Specialists as Accountant HARVEST SHERWOOD: Committee Hires McDermott Will as Counsel HARVEST SHERWOOD: Committee Hires Province as Financial Advisor HERSHEY CHAN: Seeks to Hire Northgate Real Estate Group as Advisor HIDDEN PATH: Gets Interim OK to Use Cash Collateral HIGHER GROUND: U.S. Trustee Appoints Creditors' Committee HO WAN KWOK: New Jersey Mansion Belongs to Debtor, Court Says HOT CRETE: Creditors to Get Proceeds From Liquidation HOTEL COMMERCE: Seeks Chapter 11 Bankruptcy in Nebraska ICORECONNECT INC: Hires Bhavsar Law Group as Immigration Counsel INNOVATIVE NURSING: Court Closes Subchapter V Bankruptcy Case INTEGRAL EXPRESS: Seeks to Hire Gutnicki LLP as Bankruptcy Counsel INTEGRAL EXPRESS: Seeks to Tap David Freydin as Bankruptcy Counsel IOK TECHNOLOGY: Gets OK to Use Cash Collateral Until July 31 IOK TECHNOLOGY: Seeks to Hire KC Cohen Lawyer PC as Counsel JAL OUTLET: Hires Charles A. Cuprill P.S.C. as Counsel JILL'S OFFICE: Gets Final OK to Use Cash Collateral Until Sept. 30 JILL'S OFFICE: Seeks to Hire Holyoak & Co. as Accountant JTI-MACDONALD CORP: Chapter 15 Case Summary JUBILEE HILLTOP: Hires Spence Custer Saylor as Counsel KALEIDOSCOPE SCHOOL: Wins Interim Cash Collateral Access KNOWBE4 INC: S&P Assigns 'B-' ICR on Debt Refinancing KUBERA HOTEL: Seeks Court Approval to Tap Ryan C. Wood as Counsel LAID RIGHT: Gets Third Interim OK to Use Cash Collateral LASEN INC: Gets Interim OK to Use Cash Collateral LAWTON LLC: Voluntary Chapter 11 Case Summary LEISURE INVESTMENTS: Says Former Execs Defy Court Orders LEXINGTON BLUE: Seeks to Hire Dennery PLLC as Bankruptcy Counsel LINDA FLORA: Seeks Chapter 11 Bankruptcy in California LINDA FLORA: Voluntary Chapter 11 Case Summary LINQTO TEXAS: Gets Interim OK to Obtain DIP Loan From Sandton LINQTO TEXAS: Users Accuse Founder of Violating Securities Laws LPB MHC: Farmers State Bank Loses Summary Judgment Bid LYNDA TRANSPORTATION: Seeks Chapter 11 Bankruptcy in Illinois LYNDA TRANSPORTATION: Voluntary Chapter 11 Case Summary MARVEL LIGHTING: Hires Richey Mills as Financial Advisor MEYER BURGER: U.S. Trustee Appoints Creditors' Committee MINORTICO REALTY: Case Summary & Nine Unsecured Creditors MINORTICO REALTY: Seeks Chapter 11 Bankruptcy with $16.6MM Debt MOSAIC COMPANIES: Case Summary & 30 Largest Unsecured Creditors MSB TRUST: Seeks Chapter 11 Bankruptcy in Utah MTE LLC: Cash Today Seeks Emergency Appointment of Receiver NATURAL STATE: Hires Honey Law Firm P.A. as Attorneys NHC INVESTMENTS: Section 341(a) Meeting of Creditors on August 14 NOBLE LIFE: Hires Scarlett & Croll PA as Bankruptcy Counsel OCEAN FIVE: Seeks Approval to Hire Alvin L. Hagerich as Accountant OCEAN FIVE: Seeks Approval to Hire Meyer & Nunez as Legal Counsel OCEAN FIVE: Seeks Court Approval to Tap Blue Sky Miami as Manager OFFSHORE SAILING: Seeks to Hire Williamson Law Firm as Counsel PALWAUKEE HOSPITALITY: Plan Exclusivity Extended to Sept. 30 PITT STOP: Seeks to Hire Kasen & Kasen as Bankruptcy Counsel PPS PROPERTY: Section 341(a) Meeting of Creditors on August 13 PPS PROPERTY: To Sell Plainfield Property to R. Padron for $750K PRESCART CORP: Gets Final OK to Use Cash Collateral PROSOURCE MACHINERY: Seeks to Extend Plan Exclusivity to Sept. 29 PROSPECT MEDICAL: Seeks to Hire KPMG as Tax Consulting Advisor PUERTO RICO: Oversight Board Rejects $20B New Fortress Deal R & L HANDYMAN: Hearing to Use Cash Collateral Set for July 15 RCB ENTERPRISES: Seeks Subchapter V Bankruptcy in Michigan REDSTONE BUYER: S&P Downgrades ICR to 'CCC-' on Ongoing Cash Burn RETILE LLC: Seeks Chapter 11 Bankruptcy in Delaware RIVER FALL: Seeks to Hire OPAC Group as Broker ROGUE SMOOTHIES: Gets OK to Use $79K in Cash Collateral S&G HOSPITALITY: Seeks Cash Collateral Access Until Sept. 30 SAKS GLOBAL: S&P Cuts ICR to 'CC' on Proposed Debt Restructuring SCANROCK OIL: Ch. 11 Plan Disclosure Delayed Over Improper Notice SCHULTE INC: Seeks Cash Collateral Access SHILO INN IDAHO FALLS: Gets Extension to Access Cash Collateral SOUTH BROADWAY: Trustee Files Liquidating Plan SUNNOVA ENERGY: Hires Alvarez & Marsal as Restructuring Advisor SUNNOVA ENERGY: Hires Moelis & Company LLC as Investment Banker SUNNOVA ENERGY: Receives $7MM Offer for Service Division SUNNOVA ENERGY: Seeks Approval to Tap Province as Financial Advisor SUNNOVA ENERGY: Seeks to Hire Kirkland & Ellis as Legal Counsel SUNNOVA ENERGY: Seeks to Hire Kobre & Kim as Special Counsel SUNNOVA ENERGY: Taps Bracewell as Co-Counsel and Conflicts Counsel SURVWEST LLC: Gets Final OK to Use Cash Collateral Until Oct. 5 SWEET TRUCKING: Court OKs Final Use of Cash Collateral SYNERGY MEDICAL: Gets Interim OK to Use Cash Collateral SYNERGY MEDICAL: Seeks to Tap Bruner Wright as Bankruptcy Counsel TAC & J: Seeks Chapter 11 Bankruptcy in Texas TARAH THAI: Seeks to Use Cash Collateral TBTOG DEVELOPMENT: Taps Hilco as Real Estate Broker and Consultant TERRA LAKE: Trustee Seeks to Hire YIP Associates as Accountant THASSOS INC: Seeks to Hire Konstantine Sparagis as Legal Counsel THRASIO HOLDINGS: S&P Cuts ICR to D on Capital Structure Amendment TIFARET DISCOUNT: Seeks Chapter 11 Bankruptcy in New York TIFARET DISCOUNT: Voluntary Chapter 11 Case Summary TOMS RIVER REGIONAL: Bonds Rating Slashed After Bankruptcy Warning TUPPERWARE BRANDS: $22MM Investor Settlement Hits Court Snag TXMV2017 LLC: Files Amendment to Disclosure Statement UFP HOLDING I: Seeks Chapter 11 Bankruptcy in New York UFP HOLDING: Voluntary Chapter 11 Case Summary UNIFIED SCIENCE: U.S. Trustee Appoints Creditors' Committee VEGAS TREASURES: Hires Larson & Zirzow as Bankruptcy Counsel VELOCITY ESPORTS: Hires Nevada Bankruptcy Attorneys as Counsel VELOCITY ESPORTS: Seeks to Hire First Choice as Broker VILLAGES HEALTH: Receives $39MM DIP Prelim Court Approval VILLAS AT 79TH: Seeks to Hire Stinson LLP as Counsel WELLPATH HOLDINGS: Court Tosses Remaining Claims in Santana Lawsuit WESTJET AIRLINES: S&P Alters Outlook to Negative, Affirms 'B' ICR WILCOV HOLDINGS: Hires Cone Commercial Real Estate as Realtor WILCOV HOLDINGS: Seeks Approval to Tap Ginnett Zabala as Accountant WOLFSPEED INC: Gets Interim OK to Use Cash Collateral WOLFSPEED INC: Seeks to Hire Epiq as Claims and Noticing Agent WOODCREST CONDOMINIUMS: Seeks Chapter 11 Bankruptcy in D.C. WOODHILL NC: Gets Interim OK to Use Cash Collateral WORLD BRANDS: Hires Branch Creek Capital Inc. as Accountant WW INTERNATIONAL:S&P Assigns 'B-' ICR on Emergence From Bankruptcy XYZ HOME: Ch. 11 Affiliate Taps Keller Williams Realty as Broker YELLOW CORP: Sells 4 Terminals for $3.95 Million [] Bankrupt US Small Firms Bound by Debt Discharge Limitations [] Bankruptcies Led to Closure of About 350 Restaurants in 2024 [] BOOK REVIEW: Bendix-Martin Marietta Takeover War ********* 121 NORTH COMMON: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: 121 North Common LLC 121 North Common Street Lynn MA Business Description: 121 North Common LLC owns and operates a residential lodging facility located in Lynn, Massachusetts. The Company provides housing accommodations in a multi-unit property at 121 North Common Street. Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court District of Massachusetts Case No.: 25-11409 Debtor's Counsel: Michael Walsh, Esq. WALSH & WALSH PO Box 9 Lynnfield MA 01960 Tel: 617-257-5496 E-mail: walsh.lynnfield@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by William Fletcher 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/P7RWE2Y/121_North_Common_LLC__mabke-25-11409__0001.0.pdf?mcid=tGE4TAMA 1522 C STREET:Seeks Subchapter V Bankruptcy in D.C. --------------------------------------------------- 1522 C Street, LLC, a real estate firm based in Upper Marlboro, Maryland, has filed for Chapter 11 bankruptcy protection in the District of Columbia. While the company is classified under NAICS code 5311 -- real estate -- the filing does not provide specific information about its properties or business operations, RK Consultants reported. The company is seeking relief under Subchapter V as a small business debtor, reporting estimated assets and liabilities each between $1 million and $10 million. The petition, signed by Managing Member Anthony Whitehead, was filed on July 9, 2025. According to the filing, no funds will be available for unsecured creditors after administrative expenses are paid. The company lists between 1 and 49 creditors, indicating a relatively modest-scale operation. About 1522 C Street LLC 1522 C Street LLC is a real estate company based in Upper Marlboro, Maryland. 1522 C Street LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00264) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. The Debtor's Bankruptcy Counsel is The Weiss Law Group and tern & Eisenberg Mid-Atlantic, PC as Legal Counsel. 1600 WESTERN: Seeks to Hire Michael J. Flynn as Real Estate Agent ----------------------------------------------------------------- 1600 Western Venture LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Michael Flynn, chief operating officer of Hiffman Shaffer Associates, Inc., doing business as Nai Hiffman, as real estate agent. The Debtor needs a real estate agent to sell commercial/industrial properties located at 2443 and 2444 W. 16th Street, Chicago, Illinois. The real estate agent will be compensated as follows: (a) a commission of 2.75 percent of the properties' gross purchase price up to and including $14 million; (b) a commission of 2.5 percent of the properties' gross purchase price above $14 million; (c) a commission equal to 1.5 percent of the gross loan proceeds; (d) in the event that the owner leases the property to a tenant procured by the broker during the term of this agreement or under the terms and conditions of and during the expiration provision period described above, the owner shall pay broker a lease commission on execution of a lease. The commission shall be 4 percent of the total gross rent obligation reserved in the lease, including escalations which can be determined at the outset of the transaction. Mr. Flynn disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The real estate agent can be reached at: Michael J. Flynn Nai Hiffman One Oakbrook Terrace, Suite 400 Oakbrook Terrace, IL 60181 Telephone: (630) 691-0600 Email: mflynn@hiffman.com About 1600 Western Venture LLC 1600 Western Venture LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08821) on June 10, 2025. In the petition signed by Dorothy Flisk, managing member, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Jacqueline P. Cox oversees the case. Penelope Bach, Esq., at Bach Law Offices represents the Debtor as legal counsel. 1918 CONSTANCE STREET: Seeks Subchapter V Bankruptcy in Louisiana ----------------------------------------------------------------- On July 9, 2025, 1918 Constance Street filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Louisiana. 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 1918 Constance Street 1918 Constance Street is a New Orleans-based construction entity likely involved in residential building construction (NAICS 2361). 1918 Constance Street sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-11438) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtors are represented by Patrick S. Garrity, Esq. at The Derbes Law Firm, LLC. 23ANDME HOLDING: DNA Assets Set for Sale Despite Objections ----------------------------------------------------------- Randi Love of Bloomberg Law reports that a federal district judge has cleared the way for 23andMe Holding Co. to proceed with the sale of its genetic material assets, despite objections from the state of California. The U.S. District Court for the Eastern District of Missouri had temporarily paused the sale on July 7, 2025 following a bankruptcy judge's decision to reject California's request for a stay. However, during a hearing Thursday, July 10, 2025, District Judge Matthew T. Schelp ruled that California failed to show the bankruptcy court had abused its discretion in approving the $305 million deal, according to the report. Judge Schelp extended the temporary pause until 11:59 p.m. on July 11 to give California time to appeal to the Ninth Circuit. The sale, approved in late June by Bankruptcy Judge Brian C. Walsh, involves the nonprofit TTAM Research Institute and 23andMe co-founder Anne Wojcicki. Several states, including California, objected to the deal on privacy grounds. Judge Schelp questioned California's legal standing, stating the state hadn't demonstrated direct harm. He also rejected arguments that the transaction would violate California's Genetic Information Privacy Act, noting that residents still have the ability to permanently delete their genetic data. About 23andMe 23andMe Holding Co. is a genetics-led consumer healthcare and biotechnology company in San Francisco, Calif. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). 23andMe disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison, LLP, Morgan, Lewis & Bockius, LLP and Carmody MacDonald, PC serve as legal counsel to the Debtors while Alvarez & Marsal North America, LLC serve as the restructuring advisor. The Debtors tapped Reevemark, LLC and Scale Strategy Operations, LLC as communications advisors and Kroll Restructuring Administration Services, LLC as claims agent. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP serve as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Jerry Jensen, Acting U.S. Trustee for Region 13, appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Kelley Drye & Warren, LLP and Stinson, LLP as legal counsel and FTI Consulting, Inc. as financial advisor. 315 MANHATTAN PROPERTIES: Seeks Chapter 11 Bankruptcy in New York ----------------------------------------------------------------- On July 9, 2025, 315 Manhattan Properties LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 315 Manhattan Properties LLC 315 Manhattan Properties LLC is a single asset real estate company that owns and manages property in Harlem, New York. 315 Manhattan Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11531) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Michael E. Wiles handles the case. The Debtors are represented by Eric H. Horn, Esq. at A.Y. Strauss. 315 MANHATTAN: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 315 Manhattan Properties LLC 138 West 127th Street New York, NY 10027 Business Description: 315 Manhattan Properties LLC owns a single real estate asset located at 315 West 121st Street in New York, NY. The Company operates as a single-asset real estate entity, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-11531 Judge: Hon. Michael E Wiles Debtor's Counsel: Eric H. Horn, Esq. A.Y. STRAUSS LLC 290 West Mount Pleasant Avenue Suite 3260 Livingston, NJ 07039 Tel: 973-287-5006 E-mail: ehorn@aystrauss.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Bradley Simmons as sole member. 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/FQ2CASQ/315_Manhattan_Properties_LLC__nysbke-25-11531__0001.0.pdf?mcid=tGE4TAMA 5220 TROOST: To Sell Kansas Property to T53 Project for $7.5MM -------------------------------------------------------------- 5220 Troost, LLC, seeks permission from the U.S. Bankruptcy Court for the Western District of Missouri to sell commercial building, free and clear of liens, claims, and encumbrances. The Debtor owns certain real estate at 5220 Troost Avenue, Kansas City, Jackson County, Missouri. The Debtor wants aims to sell the property free and clear of all liens and the mortgage lien shall attach to the proceeds. Community National Bank (CNB) has a mortgage lien against the Property and all net proceeds will be paid to CNB. The Debtor enters into a Purchase Agreement, dated June 23, 2025, to sell the Property to T53 Project, LLC, a Missouri Limited Liability Company for the purchase price of $7,500,000. The current members of T53 Project, LLC, are Steven Foutch, Jackson Foutch, Honor Foutch and Nick Rhude. Steven Foutch is speaking with three other individuals who are very interested in acquiring memberships in the T53 Project, LLC. The Debtor has had the Property listed for sale and has had a number of interested Buyers. In the fall of 2024, the Curators of University of Missouri offered $4,800,000 on August 28, 2024, through a Letter of Intent. On October 31, 2024, Lars M. Larsson provided a Letter of Intent for $5,500,000. On or about February 3, 2025, Nine Line Investments, LLC submitted a contract to purchase the Property for $7,300,000. There have been other interested parties at the $7,500,000 price but none have presented contracts. Thus, the Debtor believes that the purchase price of $7,500,000 is a fair and reasonable price and the maximum price that Debtor can expect to receive in the foreseeable future. The Debtor requests that the Court grants the motion to sell the property, free and clear of liens as set forth in the motion. About 5220 Troost, LLC 5220 Troost, LLC, owns a residential rental building for college students or VA individuals, having an appraised value of $9.96 million. 5220 Troost filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 24-50075) on March 6, 2024, listing $12,189,906 in assets and $8,456,350 in liabilities. The petition was signed by Steven Foutch as managing member of 5220 Troost Manager LLC, member of Debtor. Judge Cynthia A. Norton presides over the case. Erlene W. Krigel, Esq., at Krigel & Krigel, PC, represents the Debtor as counsel. 604 ESPLANADE: Seeks Subchapter V Bankruptcy in Louisiana --------------------------------------------------------- On July 9, 2025, 604 Esplanade LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Louisiana. 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 604 Esplanade LLC 604 Esplanade LLC is a real estate company that appears to own or manage property at 604 Esplanade Street in New Orleans, Louisiana. 604 Esplanade LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-11439) on July 9, 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 Meredith S. Grabill handles the case. The Debtors are represented by Ryan James Richmond, Esq. at Sternberg, Naccari & White, LLC. 604 ESPLANADE: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 604 Esplanade, LLC 620 Decatur Street Apt. E New Orleans, LA 70130 Business Description: 604 Esplanade, LLC is a real estate company that owns property located at 604 Esplanade Street in New Orleans, Louisiana. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Eastern District of Louisiana Case No.: 25-11439 Debtor's Counsel: Ryan J. Richmond, Esq. STERNBERG, NACCARI & WHITE, LLC 450 Laurel Street Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 E-mail: ryan@snw.law Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Jonathan Weber as manager. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/7YBMIYA/604_Esplanade_LLC__laebke-25-11439__0001.0.pdf?mcid=tGE4TAMA 8 BUILDINGS LLC: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: 8 Buildings LLC 1575 Galena St Apt C105 Aurora, CO 80010 Business Description: 8 Buildings LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court District of Colorado Case No.: 25-14224 Judge: Hon. Joseph G Rosania Jr Debtor's Counsel: Jeffrey A. Weinman, Esq. ALLEN VELLONE WOLF HELFRICH & FACTOR, P.C. 1600 Stout Street 1900 Denver, CO 80202 Tel: 303-534-4499 Email: jweinman@allen-vellone.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Randel Lewis, who serves as Manager of Foundation Ltd., which in turn manages 8 Buildings LLC. A copy of the Debtor's list of five unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6ENFXOI/8_Buildings_LLC__cobke-25-14224__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/Z3VLMQQ/8_Buildings_LLC__cobke-25-14224__0001.0.pdf?mcid=tGE4TAMA 901 MERRICK ROAD: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------------- On July 9, 2025, 901 Merrick Road LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 901 Merrick Road LLC 901 Merrick Road LLC is a single asset real estate company that owns property located at 901 Merrick Road in Copiague, New York. 901 Merrick Road LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43271) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtors are represented by Erica Feynman Aisner, Esq. at Kirby Aisner & Curley LLP. 901 MERRICK ROAD: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: 901 Merrick Road LLC 20 Ocean Court Brooklyn, NY 11223 Business Description: 901 Merrick Road LLC is a single-asset real estate company that owns the property located at 901 Merrick Road, Copiague, New York. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-43271 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Erica Aisner, Esq. KIRBY AISNER & CURLEY LLP 700 Post Road Suite 237 Scarsdale, NY 10583 E-mail: eaisner@kacllp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Rubin Margules as authorized signatory. The Debtor failed to include a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NKY7OEA/901_Merrick_Road_LLC__nyebke-25-43271__0001.0.pdf?mcid=tGE4TAMA ADC AND T LLC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: ADC and T LLC d/b/a BIG Game 3303 Agate Trail Forney, TX 75126 Business Description: ADC and T LLC, doing business as BIG Game, provides transportation and logistics services, including hauling operations involving trucks, trailers, and heavy equipment. The Company operates in Texas and serves sectors such as construction, aggregates, or oilfield services. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Northern District of Texas Case No.: 25-32569 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 Aubrey Deckard as owner. A copy of the Debtor's list of 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MG2TVWI/ADC_and_T_LLC__txnbke-25-32569__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PZ4GBFY/ADC_and_T_LLC__txnbke-25-32569__0001.0.pdf?mcid=tGE4TAMA AFM MATTRESS: July 14 Deadline for Panel Questionnaires ------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of AFM Mattress Company LLC. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/55r5te2d and return by email it to Joseph McMahon -- joseph.mcmahon@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 4:00 p.m., on Monday, July 14, 2025. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About AFM Mattress Company LLC AFM Mattress Company LLC, doing business as American Mattress, a retail mattress company based in Elk Grove Village, Illinois. AFM Mattress Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11288) on July 6, 2025. In its petition, the Debtor reported estimated assets and liabilities of $1 million to $10 million each. The Debtor is represented by Maria Aprile Sawczuk, Esq. at Goldstein & McClintock LLLP. AIO US: Plan Exclusivity Period Extended to September 8 ------------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware extended AIO US, Inc. and its debtor affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to September 8 and November 10, 2025, respectively. As shared by Troubled Company Reporter, the Debtors explain that they seek a further ninety-day extension of the Exclusive Periods so as not to disrupt the progress made with the Creditors' Committee and Insurance Companies and confirm a plan that maximizes value for all creditors. Allowing another party to file a competing plan at this time is likely to derail negotiations, lead to less favorable plan terms for creditors, create unnecessary complexity and delay, and result in significant additional professional fees, increasing administrative expenses and lowering recoveries for creditors. The Debtors claim that they have devoted significant time and resources to progressing these chapter 11 cases. The Debtors expect to reach confirmation and consummate the Plan on or around their scheduled hearing on July 21, 2025 and make distributions shortly thereafter. A further extension of the Exclusive Periods is warranted to allow the Debtors to achieve these goals without the interference of a competing chapter 11 plan. The Debtors assert that they have put forth a chapter 11 plan that fairly and equitably distributes the Debtors' remaining assets to their various creditor constituencies. This is particularly complicated in chapter 11 cases such as these where the Debtors face substantial mass tort liabilities and seek to confirm a plan that will administer hundreds of potential Talc Claims through complex trust distribution procedures. Accordingly, the Debtors believe the size and complexity of these chapter 11 cases warrant the extension of the Exclusive Periods requested herein. The Debtors' Counsel: Zachary I. Shapiro, Esq. Mark D. Collins, Esq. Michael J. Merchant, Esq. David T. Queroli, Esq. RICHARDS, LAYTON & FINGER, P.A. One Rodney Square 920 North King Street Wilmington, Delaware 19801 Tel: (302) 651-7700 E-mail: collins@rlf.com merchant@rlf.com shapiro@rlf.com queroli@rlf.com - and - Ronit J. Berkovich, Esq. Matthew P. Goren, Esq. Alejandro Bascoy, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Tel: (212) 310-8000 E-mail: ronit.berkovich@weil.com matthew.goren@weil.com alejandro.bascoy@weil.com About AIO US, Inc. AIO US Inc., Avon Products Inc. and some of its affiliates are manufacturers and marketers of beauty, fashion, and home products with operations and customers across the globe. AIO US and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-11836) on Aug. 12, 2024. In the petition filed by Philip J. Gund as chief restructuring officer, AIO US disclosed $1 billion to $10 billion in assets and debt. Richards, Layton & Finger, P.A. and Weil, Gotshal & Manges LLP are counsel to the Debtors. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors. Rothschild & Co US Inc is the Debtors' investment banker and financial advisor. Epiq Corporate Restructuring LLC acts as claims and noticing agent to the Debtors. ARC-IV LLC: Case Summary & Seven Unsecured Creditors ---------------------------------------------------- Debtor: ARC-IV, LLC 3808 Beverly Ridge Drive Sherman Oaks, CA 91423 Business Description: ARC-IV, LLC owns a single-family residential property located at 3808 Beverly Ridge Drive in Sherman Oaks, California. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-11215 Judge: Hon. Martin R. Barash Debtor's Counsel: Michael Jay Berger, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Tel: (310) 271-6223 Fax: (310) 271-9805 Email: michael.berger@bankruptcypower.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Brian M. Cronin as managing member. A full-text copy of the petition, which includes a list of the Debtor's seven unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6QWRCBA/ARC-IV_LLC__cacbke-25-11215__0001.0.pdf?mcid=tGE4TAMA ARC-IV LLC: Seeks Subchapter V Bankruptcy in California ------------------------------------------------------- On July 9, 2025, ARC-IV LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About ARC-IV LLC ARC-IV LLC is a limited liability company based in Sherman Oaks, California. ARC-IV LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11215) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by the Law Offices of Michael Jay Berger. ARCHDIOCESE OF NEW ORLEANS: Hires Signal as Noticing Consultant --------------------------------------------------------------- The Roman Catholic Church of the Archdiocese of New Orleans seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Signal Interactive Media as expert noticing consultant. The firm will provide these services: (a) design and implement the plan and bar date noticing program; (b) expert consulting services, an expert report, and expert testimony in connection with the plan and bar date noticing program, and any contested matters, adversary proceedings, and/or any other litigation that may arise with regards to the plan and bar date noticing program; (c) assist with the preparation of affidavits or declarations, and briefing in this Chapter 11 case concerning the issues for which Signal is providing expert consulting services and testimony; and (d) prepare for and provide court testimony regarding the issues for which Signal is providing expert consulting services and expert testimony and consulting with the plan proponents' counsel regarding court testimony of any other interested party's witnesses concerning the plan and the bar date noticing program. The firm will be paid at these hourly rates: Notice Experts $700 Project Managers $375 Media Planners $375 In addition, the firm will seek reimbursement for expenses incurred. Shannon Wheatman, a member at Signal Interactive Media, 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: Shannon Wheatman Signal Interactive Media 401 W Town St., # B Colombus, OH 43215 About Roman Catholic Church of The Archdiocese Of New Orleans The Roman Catholic Church of the Archdiocese of New Orleans -- https://www.nolacatholic.org/ -- is a non-profit religious corporation incorporated under the laws of the State of Louisiana. Created as a diocese in 1793, and established as an archdiocese in 1850, the Archdiocese of New Orleans has educated hundreds of thousands in its schools, provided religious services to its churches and provided charitable assistance to individuals in need,including those affected by hurricanes, floods, natural disasters, war, civil unrest, plagues, epidemics, and illness. Currently, the archdiocese's geographic footprint occupies over 4,200 square miles in southeast Louisiana and includes eight civil parishes: Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist, St. Tammany, and Washington. The Roman Catholic Church for the Archdiocese of New Orleans sought Chapter 11 protection (Bankr. E.D. La. Case No. 20-10846) on May 1, 2020. The archdiocese was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. Judge Meredith S. Grabill oversees the case. Jones Walker, LLP and Blank Rome, LLP, serve as the archdiocese's bankruptcy counsel and special counsel, respectively. Donlin, Recano & Company, Inc., is the claims agent. The U.S. Trustee for Region 5 appointed an official committee of unsecured creditors on May 20, 2020. The committee is represented by the law firms of Pachulski Stang Ziehl & Jones, LLP and Locke Lord, LLP. Berkeley Research Group, LLC is the committee's financial advisor. AUXILIARY OPERATIONS: July 14 Hearing to Use Cash Collateral ------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division is set to hold a hearing on July 14 to consider another extension of Auxiliary Operations Resource, Inc.'s authority to use cash collateral. The Debtor's authority to utilize cash collateral pursuant to the court's July 10 interim order expires on July 14. The interim order authorized the Debtor to use up to $500,000 in cash collateral for the interim period in accordance with the budget it filed with the court. The interim order granted interest holders first and priority replacement liens on post-petition cash collateral and other post-petition assets of the Debtor, with the same priority and extent as their pre-bankruptcy liens. The Debtor has identified several secured creditors with potential claims on its cash collateral, including: 1. Internal Revenue Service: $1,626,757in filed tax liens 2. Indiana Department of Revenue: $692,606 in warrants 3. Indiana Department of Workforce Development: $741,697 in warrants 4. Small Business Administration: $150,000 UCC-1 filing The total known asserted claims exceed $3.2 million, though the Debtor notes these amounts may be overstated due to ongoing payments and missed withholdings. A detailed analysis of lien validity, priority, and extent is still pending. Because all liens were filed within a similar timeframe, and lien filings are numerous and complex, the Debtor cannot yet determine the precise order of priority among the lienholders. 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. AZUL S.A.: Secures Court Okay to Proceed with Restructuring Plan ---------------------------------------------------------------- Danielle Chaves of Bloomberg News reports that the U.S. court overseeing the company's financial restructuring has granted final approval for all of its petitions, Azul said in a recent filing. According to the company, the approvals allow the restructuring process to move forward as planned and keep it on track for a successful outcome. At least one additional court hearing is expected later this July 2025 to address outstanding approvals. About Azul S.A. Azul S.A. (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, offers 900 daily flights to over 150 destinations. With an operating fleet of over 200 aircrafts and more than 15,000 Crewmembers, the Company has a network of 300 non-stop routes. Azul was named by Cirium (leading aviation data analysis company) as the most on-time airline in the world in 2023. In 2020, Azul was awarded best airline in the world by TripAdvisor, the first time a Brazilian flag carrier earned the number one ranking in the Traveler's Choice Awards. On the Web: http://www.voeazul.com.br/imprensa On May 28, 2025, Azul S.A. and 19 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11176). The cases are pending before Judge Sean H. Lane. The Company is supported by Davis Polk & Wardwell LLP, White & Case LLP, and Pinheiro Neto Advogados as legal counsel; FTI Consulting as financial advisor; Guggenheim Securities, LLC as investment banker; SkyWorks Capital LLC as fleet advisor; and FTI Consulting, C Street Advisory Group, and MassMedia as strategic communications advisors. Stretto is the claims agent. The Participating Lenders are supported by Cleary Gottlieb Steen & Hamilton LLP and Mattos Filho as legal counsel and PJT Partners as investment banker. United Airlines is supported by Hughes Hubbard & Reed LLP and Sidley Austin LLP as legal counsel and Barclays Investment Bank as investment banker. American Airlines is supported by Latham & Watkins LLP as legal counsel. AerCap is supported by Pillsbury Winthrop Shaw Pittman LLP as legal Counsel. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Azul S.A. and its affiliates. B. RILEY FINANCIAL: Revises Senior Credit Line w/ Oaktree --------------------------------------------------------- Chakradhar Adusumilli of Bloomberg News reports that B. Riley Financial has amended its senior secured credit agreement with Oaktree Capital, enhancing its operational flexibility. The revised terms include a new $100 million investment basket for transactions utilizing B. Riley's balance sheet, and an increase in the parent company investment basket to $30 million from $20 million, according to the report. The amendment also permits the use of up to $25 million in cash to pay down other debt. However, it does not allow for any additional borrowings under the facility. The outstanding balance has been reduced to $62.5 million, the report states. About B. Riley Financial B. Riley Financial, Inc. -- http://www.brileyfin.com/-- is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. As of June 30, 2024, B. Riley Financial had $3.2 billion in total assets, $3.4 billion in total liabilities, and $143.1 million in total deficit. BLUE DUCK: Seeks to Hire Lain Faulkner & Co. as Financial Advisor ----------------------------------------------------------------- Blue Duck Energy MVR, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Lain, Faulkner & Co., PC as financial advisors. The firm will render these services: (a) serve as accountants and financial advisors to the Debtor; (b) assist the Debtor and its counsel with matters related to the bankruptcy case; (c) assist the Debtor with preparation of financial information pertaining to estate assets and liabilities, cash flows, financial statements, and projections; (d) assist and/or prepare 13-week cash flow budget and variance reports; (e) analyze financial data and other information exchanged between the Debtor and its creditors, any regulatory agencies, consultants, prospective investors/purchasers or other third parties, as may be necessary or appropriate; (f) assist the Debtor with preparation of any bankruptcy required reporting; and (g) perform all other financial and accounting services and provide all other financial advice to the Debtor in connection with this case as may be required or necessary. The firm will be paid at these hourly rates: Directors $440 - $560 Accounting Professionals $235 - $325 IT Professionals $300 Staff Accountants $195 - $275 Clerical and Bookkeepers $95 - $135 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $75,000 from the Debtor. D. Brian Crisp, director at Lain, Faulkner & 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 through: D. Brian Crisp Lain, Faulkner & Co., P.C. 400 N. Saint Paul St., Ste. 600 Dallas, TX 75201 Telephone: (214) 720-7206 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. Tex. Case No. 25-20131) on June 2, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor tapped Thomas D. Berghman, Esq., at Munsch Hardt Kopf & Harr, PC as counsel and Lain, Faulkner & Co. PC as financial advisors. BLUE DUCK: Seeks to Hire Munsch Hardt Kopf & Harr as Counsel ------------------------------------------------------------ Blue Duck Energy MVR, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Munsch Hardt Kopf & Harr, PC as general counsel. The firm will render these services: (a) serve as attorneys of record for the Debtor and to provide representation and legal advice with respect to its powers and duties in the continued operation of its business; (b) assist the Debtor in carrying out its duties under the Bankruptcy Code; (c) take all necessary action to protect and preserve the Debtor's estate; (d) consult with the United States Trustee, any statutory committee that may be formed, and all other creditors and parties in interest concerning administration of this Chapter 11 case; (e) assist in monetizing the estate's assets; (f) prepare on behalf of the Debtor all legal papers and documents to further its estate's interests and objections, and assist it in preparation of schedules, statements, and reports, and represent it and its estate at all related hearings and at all related meetings of creditors, United States Trustee interviews, and the like; (g) assist the Debtor in connection with preparing and refining its Chapter 11 plan and disclosure statement, and/or all related agreements and documents necessary to facilitate an exit from this Chapter 11 case, take appropriate action on behalf of it to obtain confirmation of such plan, and take such further actions as may be required in connection with the implementation of such plan; (h) assist the Debtor in analyzing and appropriately treating the claims of creditors; (i) appear before this court and any appellate courts or other courts having jurisdiction over any matter associated with this Chapter 11 case; and (j) perform all other legal services and provide all other legal advice to the Debtor as may be required or deemed to be in the interest of its estate in accordance with its rights and duties as set forth in the Bankruptcy Code. The firm's hourly rates are as follows: Thomas Berghman, Esq. $550 Julian Vasek, Shareholder $500 Kyle Jaksa, Associate $475 In addition, the firm will seek reimbursement for expenses incurred. The firm received retainers on May 2, 2025 and June 2, 2025, totaling of $75,000 from the Debtor. Mr. Berghman disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Thomas D. Berghman, Esq. Munsch Hardt Kopf & Harr, P.C. 500 N. Akard St., Ste. 4000 Dallas, TX 75201 Telephone: (214) 855-7500 Email: tberghman@munsch.com 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. Tex. Case No. 25-20131) on June 2, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor tapped Thomas D. Berghman, Esq., at Munsch Hardt Kopf & Harr, PC as counsel and Lain, Faulkner & Co. PC as financial advisors. BROADWAY REALTY: Hires Weil Gotshal & Manges LLP as Attorney ------------------------------------------------------------ Broadway Realty I Co., LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Weil, Gotshal & Manges LLP as attorney. The firm will provide these services: a. take all necessary actions to protect and preserve the Debtors' estates, including the prosecution of actions on the Debtors' behalf, the defense of any actions commenced against the Debtors, the negotiation of disputes in which the Debtors are involved and the preparation of objections to claims filed against the Debtors' estates; b. prepare on behalf of the Debtors, as debtors in possession, all necessary motions, applications, answers, orders, reports and other papers in connection with the administration of the Debtors' estates; c. take all necessary actions in connection with any sale of the Debtors' assets, a chapter 11 plan and related disclosure statement, and all related documents, and such further actions as may be required in connection with the administration of the Debtors' estates; d. take all necessary actions to protect and preserve the value of the Debtors' assets, including advising with respect to the Debtors' affiliates and all related matters; and e. perform all other necessary legal services in connection with the prosecution of these chapter 11 cases; provided, that to the extent Weil determines such services fall outside the scope of services historically or generally performed by Weil as debtor's lead counsel in a bankruptcy case, Weil will file a supplemental declaration. The firm will be paid at these rates: Members/Counsels $1,725 to $2,575 per hour Associates $890 to $1,560 per hour Paraprofessionals $375 to $630 per hour During the 90 period prior to the Petition Date, the firm was paid $2,464,414.50 in fees and $35,374.25 in expenses on account of professional services performed and to be performed on behalf of the Debtors. The firm has a remaining fee advance in favor of the Debtors for future professional services to be performed and expenses to be incurred on behalf of the Debtors in the approximate amount of $37,134.25. In addition, the firm will seek reimbursement for its out-of-pocket expenses. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee's Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed under 11 U.S.C. Sec. 330 by Attorneys in Larger Chapter 11 Cases. Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the twelve (12) months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the twelve (12) months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: Weil was formally engaged by the Debtors on March 25, 2025. Weil's hourly rates are $1,725 to $2,575 for members and counsel, $890 to $1,560 for associates, and $375 to $630 for paraprofessionals. At the time of Weil's engagement, Weil provided the Debtors a one time fee credit of $75,000 which was applied to the invoice for April 3rd, 2025. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: Weil, in conjunction with the Debtors, will develop a prospective budget and staffing plan for these chapter 11 cases. Weil and the Debtors will review such budget following the close of the budget period to determine a budget for the following period. Mr. Goren 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: Gary T. Holtzer, Esq. Garrett A. Fail, Esq. Matthew P. Goren, Esq. Philip L. DiDonato, Esq. Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, NY 10153 Tel: (212) 310-8000 Fax: (212) 310-8007 About Broadway Realty I Co., LLC Broadway Realty I Co., LLC is a real estate investment business and management company headquartered in New York City. The company operates from its principal location at 2 Grand Central Tower in Manhattan, with its main asset property at 4530 Broadway in New York. It specializes in real estate investment and property management activities across the New York metropolitan area. Broadway Realty I Co. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11050) on May 21,2025. In its petition, Broadway Realty I Co. reported between $500 million and $1 billion in both assets and liabilities. Judge David S. Jones, Esq. handles the cases. The Debtors are represented by Gary Holtzer, Esq., at Weil Gotshal & Manges, LLP. Flagstar Bank, N.A., as creditor, is represented by: Harvey A. Strickon, Esq. Brett Lawrence, Esq. Justin Rawlins, Esq. Nicholas A. Bassett, Esq. PAUL HASTINGS LLP 200 Park Avenue New York, New York 10166 Telephone: (212) 318-6000 Facsimile: (212) 319-4090 Emails: harveystrickon@paulhastings.com brettlawrence@paulhastings.com justinrawlins@paulhastings.com nicholasbassett@paulhastings.com BROADWAY REALTY: Seeks to Tap FTI Consulting as Financial Advisor ----------------------------------------------------------------- Broadway Realty I Co., LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of New York to employ FTI Consulting, Inc as financial advisor. The firm's services include: (a) evaluate existing liquidity forecasts and methodology, as well as historical activity to determine major drivers of liquidity and cash flow; (b) identify cash flow enhancement opportunities, working capital efficiency, and cash conservation strategies and implement them as practical; (c) understand and advise on strategic initiatives to improve liquidity; (d) refine the Debtors' 13-week cash forecast, as required; (e) review the Debtors' current business outlook and near-term business plan, (f) assist in producing financial analyses and reporting to the lenders and other constituents, as requested; (g) advise on strategies for developing and negotiating potential restructuring proposals for and with senior creditors, bondholders, and other key stakeholders, as applicable; (h) develop and execute core and stakeholder-specific communications materials; (i) perform such other services and analyses relating to the Debtors' that are or become required, to the extent requested by it; (j) cash flows and liquidity forecasting; (k) develop a detailed approach to preparing the Debtors for one or more bankruptcy proceedings; (l) assist Weil, on behalf of the Debtors, in implementing such plan as requested by them; (m) prepare the necessary financial and operating information; (n) coordinate developing the comprehensive strategic communications plans for all key stakeholders; (o) develop framework necessary to administer a comprehensive Chapter 11 claims process; (p) assist the Debtors to prepare for the most efficient and effective resolution of any potential court-based restructuring, whether implemented through a Chapter 11 plan, a section 363 sale, or any other structure; (q) attend meetings and assist in discussions (either before or after filing) with potential lenders, investors, creditors, committee(s), other parties in interest and/or professionals hired by the same, as requested by Weil; (r) assist the Debtors in negotiations with creditors, suppliers, lessors and other interested parties as appropriate; (s) assist the Debtors with the preparation and confirmation of a value optimizing Chapter 11 plan, and/or a sale of certain or substantially all its assets pursuant to section 363 of the Bankruptcy Code; (t) upon written request, advise on communications plans, externally and internally, including employees, suppliers, customers, and other constituencies; (u) render such other general business consulting or such other assistance as necessary that are consistent with the role of financial advisor and not duplicative of services provided by other professionals in this proceeding; and (v) assist with any other customary services typical for an engagement of this type as may be mutually agreed to by the Weil and FTI from time to time. The firm's hourly rates are as follows: Senior Managing Directors $1,185 - $1,525 Directors/Senior Directors/Managig Directors $890 - $1,155 Consultants/Senior Consultants $485 - $820 Administrative/Paraprofessionals $190 - $385 During the 90 period prior to the petition date, FTI was paid $543,181.64 in fees and $316 in expenses on account of professional services performed and to be performed on behalf of the Debtors. Cynthia Romano, a senior managing director at FTI Consulting, 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: Cynthia Romano FTI Consulting Inc. 1166 Avenue of the Americas, 15th Floor New York, NY 10036 Telephone: (617) 970-7383 Email: Cynthia.romano@fticonsulting.com About Broadway Realty I Co. Broadway Realty I Co., LLC is a real estate investment business and management company headquartered in New York City. The company operates from its principal location at 2 Grand Central Tower in Manhattan, with its main asset property at 4530 Broadway in New York. It specializes in real estate investment and property management activities across the New York metropolitan area. Broadway Realty I Co. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11050) on May 21,2025. In its petition, Broadway Realty I Co. reported between $500 million and $1 billion in both assets and liabilities. Judge David S. Jones, Esq. handles the cases. The Debtors are represented by Gary Holtzer, Esq., at Weil Gotshal & Manges, LLP. BUFNY II ASSOCIATES: 7 New York Properties Up for Sale on July 29 ----------------------------------------------------------------- Ian V. Lagowitz, Esq., ("Sale Referee") will sell at public auction outside of the entrances, which faces Worth Street, of the United States Courthouse located 500 Pearl Street, New York, New York 10007, on July 29, 2025, at 11:00 a.m. (prevailing Eastern Time) the property owned by BUFNY II Associates LP et. al, consist of seven parcels commonly known as (i) 531 Lenox Avenue, New York, New York, (ii) 163 West 136th Street, New York, New York, (iii) 102 West 137th Street, New York, New York, (iv) 106 West 137th Street, New York New York, (v) 110 West 137th Street, New York, New York, (vi) 124 West 137th Street, New York, New York, and (7) 176 West 137th Street, New York, New York ("premises"). All interested bidder must appear at the aforementioned location, date, and time with certified funds made payable to the undersigned sale referee as follows, "Ian V. Lagowitz, as sale Referee". 10% of the successful bid is due at the time of the auction. The undersigned sale referee may allow any other manner of funds in his absolute discretion. The approximate amount of judgment is $1,243,021.61. Federal National Mortgage Association, plaintiff, retained Dean L. Chapman Jr., Esq., of Akin Gump Strauss Hauer & Field LLP, as its attorney. CAREERBUILDER + MONSTER: Chapell Hired to Monitor Asset Sale ------------------------------------------------------------ James Nani of Bloomberg Law reports that a consumer privacy ombudsman has been appointed to assess how the sale of assets from bankrupt online job platforms CareerBuilder and Monster will impact users' personal data. Alan Chapell of Chapell & Associates was selected by the U.S. Trustee's office, the Justice Department's bankruptcy watchdog, to ensure the proposed sale complies with bankruptcy laws and safeguards consumer privacy, according to a notice filed Tuesday, July 8, 2025, in the U.S. Bankruptcy Court for the District of Delaware. Last June 2025, the company initiated bankruptcy proceedings, proposing to sell its job board operations to JobGet Inc. for $7 million. About CareerBuilder + Monster Venture CareerBuilder + Monster is an online job searching company. CareerBuilder + Monster sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11200) on June 24, 2025. In its petition, the Debtor reports between $50 million and $100 million in assets and owes between $100 million and $500 million. Honorable Bankruptcy Judge J Kate Stickles handles the case. The Debtor is represented by Daniel J. DeFranceschi, Esq. and Zachary I. Shapiro, Esq. at Richards, Layton & Finger, P.A. CELESTIAL PRODUCTS: To Sell Non-Cash Property to Hatch Chili Store ------------------------------------------------------------------ Celestial Products, LLC, seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to sell Assets, free and clear of liens, claims, and encumbrances. The Debtor seeks to sell all its non-cash personal property assets to The Hatch Chili Store, Inc. with the purchase price of $175,000.00. Areya H. Aurzada has been appointed as the Subchapter V Trustee. A description of the Property to be sold is as follows: (a) Internet Domain Names consisting of: (1) TexasLoneStarTamales.com (2) TheTexasSteakWarehouse.com (3) DryIcePacks.com (4) GourmetFoodsUSA.com (5) Any and all related or associated URLs, subdomains, and domain name registrations (b) Accounts and Platforms: (1) Shopify storefront and all related data, designs, and templates (2) Amazon seller account (if still active), including any associated inventory and listings (3) Social media accounts (including but not limited to Facebook, Instagram, Pinterest, Twitter, TikTok, and LinkedIn) (4) Email and customer contact lists (5) Email inboxes tied to any owned domains (6) Logos, product images, design files, recipes, and other creative assets (c) Assumed Business Names (DBAs): (1) Texas Lone Star Tamales (2) The Texas Steak Warehouse (3) Dry Ice Packs (4) Gourmet Foods USA (d) Tangible (Physical) Assets Located at Arlington (Padrino) Warehouse: (1) Five commercial 3-door upright freezers (brand unknown) (2) Approximately five stainless steel packing tables (3) Two plastic folding tables (4) One stand-up forklift (5) One electric pallet jack (6) Additional small items (bins, supplies, etc.) not significant enough to itemize individually Located at 6001 Tension Dr., Fort Worth: (1) Additional metal work tables (2) A few remaining small items (e) Other Assets: (1) All intellectual property, trademarks, service marks, trade secrets, copyrights, patents, recipes, formulations, know-how, and other proprietary information (2) All assignable contracts, agreements, leases, licenses, and permits designated by Buyer (3) All goodwill associated with Seller's business (4) All inventory, supplies, raw materials, finished goods, and packaging materials (5) All furniture, fixtures, and equipment not otherwise listed above (6) All books, records, databases, and files, including digital files, relating to Seller's business operations (7) All rights under warranties and guarantees to the extent assignable (8) Any other tangible or intangible property owned by Seller, whether or not specifically listed above. The Agreement provides terms of payment that require Buyer to tender $75,000.00 cash to Padrino Foods within 10 days of Closing of the Agreement, with the remaining $100,000.00 balance to be converted into a promissory note in favor of creditor Padrino Foods, bearing eight percent annual interest, payable monthly, with a maturity term of six years. The Debtor believes that the sale of the Property to the Buyer will generate net sale proceeds sufficient to pay the accounts payable to/claims of creditor Padrino Foods. The Debtor will continue to market the Property for sale pending approval of the Agreement and will submit higher or better offers to the Court for consideration in the alternative to the Agreement, if any are received. The Debtor seeks to sell the Property free and clear of liens, claims, and encumbrances. About Celestial Products, LLC Celestial Products USA, LLC is an online retail business based in Fort Worth, Texas. Celestial Products USA filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 25-40153) on January 16, 2025, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. Areya Holder Aurzada, Esq., at Holder Law serves as Subchapter V trustee. Judge Mark X. Mullin handles the case. The Debtor is represented by Robert Lane, Esq., at The Lane Law Firm, PLLC. CHARTER SCHOOL: Gets Interim OK to Obtain DIP Loan From East West ----------------------------------------------------------------- Charter School Capital, Inc. received interim approval from the U.S. Bankruptcy Court for the District of Delaware for authority to use cash collateral and obtain post-petition financing. The Debtor needs to obtain up to $5 million in post-petition financing from East West Bank, N.A. The DIP Financing includes an initial $2.5 million available upon entry of an interim order, with the remaining funds to be made available upon entry of a final order. The DIP Financing is necessary due to an unexpected liquidity crisis resulting from Bank of America’s refusal to fund receivables under a preexisting Note Purchase Agreement. This disruption has stalled the Debtor's "Money To Run Your School" business line, which provides essential receivables financing to charter schools. As a result, the Debtor cannot continue operations without immediate financial relief, and charter schools relying on this funding may be unable to meet payroll obligations. The funds will be used not only to maintain school operations and pay employees but also to support the ongoing Chapter 11 sale process and retain key personnel. The Debtor argued that the financing was negotiated in good faith, on an arm’s-length basis, and reflects the best available terms under the circumstances. The Debtor further asserted that no other lender was willing to provide unsecured or more favorable financing. The Debtor offers granting superpriority administrative expense status to the DIP obligations. East West Bank is represented by: Robert M. Hirsh, Esq. Francisco Vazquez, Esq. NORTON ROSE FULBRIGHT US LLP 1301 Avenue of the Americas New York, NY 10019-6022 Telephone: (212) 318-3000 Facsimile: (212) 318-3400 robert.hirsh@nortonrosefulbright.com francisco.vazquez@nortonrosefulbright.com -- and -- Eric J. Monzo, Esq. Jason S. Levin, Esq. MORRIS JAMES LLP 500 Delaware Avenue, Suite 1500 Wilmington, DE 19801 Telephone: (302) 888-6800 Facsimile: (302) 571-1750 emonzo@morrisjames.com jlevin@morrisjames.com About Charter School Capital, Inc. Charter School Capital, Inc. sought protection under U.S. Bankrupcy Code (Bankr. D. Del. Case No.e 25-11016) on June 8, 1014. In the petition signed by Stuart Ellis, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Craig T. Goldblatt oversees the case. Aaron H. Stulman, Esq., at Potter Anderson & Corroon LLP, represents the Debtor as legal counsel. CK BUILDERS: Seeks to Tap Langley & Banack as Bankruptcy Counsel ---------------------------------------------------------------- CK Builders, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Langley & Banack, Inc. as counsel. The firm will render these services: (a) advise the Debtor of its duties and powers in this Chapter 11 case; and (b) handle all matters which come before the court in this case. William Davis, Jr., Esq., the primary attorney in this representation, will be paid at his hourly rate of $425. The firm received a pre-petition retainer of $3,717 including filing fees. Mr. Davis disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: William R. Davis, Jr., Esq. Langley & Banack, Inc. 745 E. Mulberry, Suite 700 San Antonio, TX 78212 Telephone: (210) 736-6600 About CK Builders LLC CK Builders LLC provides home improvement and general contracting services in the Pipe Creek and San Antonio areas of Texas. The Company holds a home improvement contractor license and has completed various residential remodeling and repair projects. CK Builders LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51458) on June 30, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities up to $50,000. Honorable Bankruptcy Judge Craig A. Gargotta handles the case. The Debtor is represented by William R. Davis, Jr. at Langley & Banack, Inc. CLAIRE'S STORES: Considers Possible Bankruptcy for U.S. Operations ------------------------------------------------------------------ Reshmi Basu, Sabah Meddings, and Jamie Nimmo of Bloomberg News report that Claire's Stores Inc. is weighing a potential bankruptcy filing for its U.S. operations as it grapples with sluggish demand, rising import costs, and significant debt, according to sources familiar with the matter. The retailer has enlisted Houlihan Lokey Inc. to help stabilize its finances and explore strategic alternatives, including a possible sale of all or part of the business, which spans retail operations in both North America and Europe, Bloomberg previously reported. About Claire's Stores Claire's Stores, Inc. -- http://www.clairestores.com/-- is a specialty retailer of jewelry, accessories, and beauty products for young women, teens, "tweens," and kids. Through the Claire's brand, the Claire's Group has a presence in 45 nations worldwide, through a total combination of over 7,500 Company-owned stores, concessions locations, and franchised stores. Headquartered in Hoffman Estates, Illinois, the Company began as a wig retailer by the name of "Fashion Tress Industries" founded by Rowland Schaefer in 1961. In 1973, Fashion Tress Industries acquired the Chicago-based Claire's Boutiques, a 25-store jewelry chain that catered to women and teenage girls. Following that acquisition, Fashion Tress Industries changed its name to "Claire's Stores, Inc." and shifted its focus to a full line of fashion jewelry and accessories. In 2007, the Company was taken private and acquired by investment funds affiliated with, and co-investment vehicles managed by, Apollo Management VI, L.P. Claire's Group employs approximately 17,000 people globally. Claire's Stores, Inc., and 7 affiliates sought Chapter 11 protection (Bankr. D. Del. Case No. 18-10584) on March 19, 2018, after reaching terms of a balance sheet restructuring with their first lien lenders and sponsor Apollo Global Management, LLC. As of Oct. 28, 2017, Claire's Stores reported $1.98 billion in total assets against $2.53 billion in total liabilities. The Hon. Brendan Linehan Shannon is the case judge. The Debtors tapped Weil, Gotshal & Manges LLP as their bankruptcy counsel; Richards, Layton & Finger, P.A. as local counsel; FTI Consulting as restructuring advisor; Lazard Freres & Co. LLC as investment banker; Hilco Real Estate, LLC as real estate advisor; and Prime Clerk as claims agent and administrative advisor. Andrew R. Vara, Acting U.S. Trustee for Region 3, appointed seven creditors to serve on an official committee of unsecured creditors. The Committee retained Cooley LLP, as counsel, and Bayard, P.A., as co-counsel. CMC ADVERTISING: Seeks to Hire Diller and Rice as Legal Counsel --------------------------------------------------------------- CMC Advertising Ltd., doing business as Mail Works II, seeks approval from the U.S. Bankruptcy Court for the Northern District of Ohio to employ Diller and Rice, LLC as counsel. The firm will render these services: (a) consult with and aid in the preparation and implementation of a plan of reorganization; and (b) represent the Debtor in all matters relating to such proceedings. Eric Neuman, Esq., the primary attorney in this representation, will be paid at his hourly rate of $325, plus expenses. The firm received a retainer of $10,500 from the Debtor. Mr. Neuman 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: Eric R. Neuman, Esq. Diller and Rice, LLC 124 E. Main St. Van Wert, OH 45891 Telephone: (419) 238-5025 About CMC Advertising Ltd. CMC Advertising, Ltd. operating as Mailworks II, is an Ohio-based advertising company. CMC Advertising sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-31341) on June 27, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Claude R. Montgomery, Jr., managing member of CMC Advertising, signed the petition date. Judge John Gustafson oversees the case. Eric R. Neuman, Esq., at Diller and Rice, LLC, represents the Debtor as legal counsel. CRYSTAL BASIN: Hires Folsom Hall Investors Inc. as Realtor ---------------------------------------------------------- Crystal Basin Cellars, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Folsom Hall Investors, Inc. as realtor. The firm will assist the Debtor in the marketing and sale of the real property commonly known as 3550 Carson Road, Camino, CA 95709 and the sale of the business located on the same property. The firm will be paid a commission of 6 percent of the gross sales price. Steven Robert Rath, a partner at Folsom Hall Investors, Inc., 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: Steven Robert Rath Folsom Hall Investors, Inc. 2600 E Bidwell St Ste 150 Folsom, CA 95630-6449 About Crystal Basin Cellars Crystal Basin Cellars, Inc. has been in the business of promoting and selling wine products since March 5, 2000. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No. 24-25612) on Dec. 13, 2024, with $1 million to $10 million in both assets and liabilities. Michael Owen, president of Crystal Basin Cellars, signed the petition. Judge Christopher D. Jaime presides over the case. Peter G. Macaluso, Esq., at the Law Office of Peter G. Macaluso, is the Debtor's bankruptcy counsel. CTLC LLC: To Sell Howard Property to Isaac Birmingham for $2.6MM ---------------------------------------------------------------- Zvi Guttman, Chapter 7 Plan Administrator for the bankruptcy estate of CTLC LLC, seeks approval from the U.S. Bankruptcy Court for the District of Maryland, Baltimore Division, to sell Property, free and clear of liens, claims, and encumbrances. The Debtor's Property is located at 15125 Devlin Drive, Glenelg, MD 21737 in Howard County, Maryland, generally described as a custom home site, consisting of approximately 38.25 acres, improved by a partially constructed two story, approximately 25,000 square-foot single family residence. On May 29, 2025, the Court entered an Order Granting Motion to Compel Debtor's Compliance with Terms of Confirmed Chapter 11 Plan of Reorganization in which the Court directed the appointment of a plan administrator with "the exclusive authority to effectuate the terms of the Plan." The Plan Administrator advised the Debtor's realtor that she could submit a no-contingency, as-is, where-is offer, with no representations or warranties on an immediate basis or the Plan Administrator would engage an auctioneer to sell the Property. The Plan Administrator seeks authority to sell the Property to Isaac H. Birmingham, or successor, designee, or assignee. The Purchaser and the Plan Administrator have entered into a "low contingency, "as-is, where-is contract, with no representations or warranties for the sale of the Property to the Purchaser for $2,675,000 with a seller credit of $160,000. In addition to the Property itself, the sale includes personal property and fixtures (e.g., appliances, window treatments, etc.) aka "incidental property" in and about the Property. Similarly, the sale includes any and all construction materials, partially installed or uninstalled fixtures, equipment, supplies, and other building components or related items located on or intended for use at the Property, including but not limited to lumber, drywall, roofing materials, cabinetry, appliances, lighting fixtures, plumbing fixtures, mechanical systems, hardware, tools, fasteners, surplus inventory, and any other goods or materials stored, staged, or left on-site, whether or not incorporated into the structure. This shall also encompass any construction debris, packaging, and abandoned equipment, whether originally intended for installation or for temporary use in connection with the construction of the improvements on the Property. The sale is scheduled to close no later than August 1, 2025, or as provided for in the Bankruptcy Addendum to the Contract. While this Motion is pending, higher offers will be considered. The Plan Administrator submits that the price offered by the Purchaser is fair and reasonable. The Debtor engaged Lydia Travelstead, an associate with TTR Sotheby's International Realty, as broker with a commission of 6%. Although the Plan Administrator has not formally entered into a subsequent brokerage agreement with Broker, he submits that at settlement Broker will have earned and is entitled to be paid the agreed-upon fee. (2.5% of the 6% will be paid to the buyer's broker.) The lienholders of the Property include WCP Fund I LLC, J Paul Builders LLC, and Howard County, Maryland. The Plan Administrator submits that the decision to proceed with the proposed sale is based upon sound business judgment and should be approved. About CTLC LLC CTLC, LLC, is part of the residential building construction industry. CTLC, LLC, filed is voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 23-15444) on Aug. 2, 2023. The petition was signed by Sandra Grier as member. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. Judge David E. Rice presides over the case. Richard L. Costella, Esq., at Tydings & Rosenberg LLP, is the Debtor's counsel. DECCURE GROUP: Seeks Chapter 11 Bankruptcy in Florida ----------------------------------------------------- On July 9, 2025, Deccure Group LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. 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 Deccure Group LLC Deccure Group LLC is a Fort Lauderdale-based limited liability company. Deccure Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.Fla. Case No. 25-17802) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million each. Honorable Bankruptcy Judge Peter D. Russin handles the case. The Debtors are represented by Armando Alfonso, Esq. at A.R.A. Law. DEL MONTE: Wins Interim OK for DIP Loans from Wilmington, JPMorgan ------------------------------------------------------------------ Del Monte Foods Corporation II Inc. and affiliates received interim approval from the U.S. Bankruptcy Court for the District of New Jersey to use cash collateral and obtain debtor-in-possession financing to get through bankruptcy. The Debtors have an urgent need for liquidity following several years of financial strain due to macroeconomic pressures such as heightened inflation, increased tariffs, and contracting vendor terms. These factors, coupled with a shrinking borrowing base under the Debtors' pre-petition asset-based lending facility, have significantly constrained cash flow. Maintaining operational continuity is especially critical now, as the Debtors enter their key 2025 Pack Season. To address these challenges, the Debtors negotiated these DIP financings: (1) A $412.5 million superpriority secured multiple-draw DIP Term Loan Facility, agented by Wilmington Savings Fund, FSB; and (2) A superpriority senior secured asset-based revolving credit facility, agented by JPMorgan Chase Bank, N.A. and provide aggregate commitments in the maximum aggregate principal amount of $500,000,000, consisting of $500 million in undrawn commitments (the "DIP ABL Commitments," and the loans thereunder including all accrued interest, fees, and premiums thereof, the "DIP ABL Loans"). The DIP Term Loan Facility includes $165 million in new money loans and $247.5 million in roll-up loans, which will convert certain pre-petition loans into post-petition obligations. The proceeds from the DIP financing, along with continued use of cash collateral, will be used to fund the Debtors' ongoing business operations, the administration of the Chapter 11 cases, and the execution of the Debtors' sale strategy. These funds will also provide adequate assurance to suppliers, employees, and other key stakeholders that the Debtors are financially equipped to meet their post-petition obligations in the ordinary course of business. The Debtors argued that the DIP financing is the only viable funding option currently available, as they were unable to secure alternative third-party financing on better or equal terms. DIP Financing Order The interim order signed by Judge Michael Kaplan authorized Del Monte Foods to borrow, and the Del Monte Foods affiliates to guarantee, up to an aggregate principal amount of: (A) $250,000,000 of the DIP Term Loans (inclusive of the Roll-Up Loans), of which $100,000,000 of the New Money Loans will be made immediately available and $150,000,000 of the Roll-Up Loans deemed funded, converted from and exchanged for $150,000,000 of super-senior first-out loans on the date of entry of the interim order. (B) (i) $500,000,000 of the DIP ABL Commitments deemed committed, converted from and exchanged for $550,000,000 of commitments under a pre-petition ABL credit agreement on the date of entry of the interim order; (ii) the DIP ABL Loans deemed funded, converted from and exchanged for an equal amount of pre-petition ABL loans on the date of entry of the interim order, and (iii) the DIP ABL letters of credit deemed issued, converted from and exchanged for an equal amount of pre-petition letters of credit. As security for the DIP Term Loan obligations, the following security interests and liens (DIP liens) will be granted to Wilmington: (i) Subject only to a carveout, a valid, binding, continuing, enforceable, fully-perfected, non-avoidable, automatically, and properly perfected first priority senior security interest in and lien on all property of the Debtors, whether existing on the petition date or thereafter acquired, that is not subject to valid, perfected, and nonavoidable liens, on or as of the petition date; (ii) Subject to the carveout and certain liens, a valid, binding, continuing, enforceable, fully-perfected first priority senior priming security interest in and lien on all property of the Debtors that was subject to the pre-petition liens, including, without limitation, the pre-petition collateral and cash collateral; and (iii) Subject only to the carveout, a valid, binding, continuing, enforceable, fully perfected security interest in and lien on all prepetition and post-petition property of the Debtors immediately junior only to the prior senior liens. Subject to and subordinate solely to the carveout, all of the DIP obligations constitute allowed superpriority administrative expense claims, with priority over all administrative expenses and all other claims against the Debtors. Meanwhile, the following security interests and liens will be granted to JPMorgan as security for the DIP ABL obligations: (i) Subject only to the carveout, a valid, binding, continuing, enforceable, fully-perfected, non-avoidable, automatically, and properly perfected first priority senior security interest in and lien on previously unencumbered property; (ii) A valid, binding, continuing, enforceable, fully-perfected first priority senior priming security interest in and lien on all property of the Debtors that was subject to the pre-petition liens, including, without limitation, the pre-petition collateral and cash collateral; and (iii) A valid, binding, continuing, enforceable, fully perfected security interest in and lien on all pre-petition and post-petition property of the Debtors immediately junior only to the prior senior liens. A copy of the interim DIP order is available for free at http://bankrupt.com/misc/Del_Monte_Foods_Corporation_II__InterimDipOrder.pdf Judge Kaplan set a final hearing on the DIP financing motion for August 4. The deadline for filing objections or responses is on July 28. As of the petition date, the Debtors had approximately $1.24 billion in long-term, secured funded debt obligations. This debt includes a prepetition asset-based revolving credit facility, various letters of credit, and three tranches of term loans under a Super-Senior Credit Agreement. The breakdown is as follows: (1) approximately $211.2 million outstanding under the Prepetition ABL Facility, maturing in 2027; (2) approximately $26 million in letters of credit; (3) a $395.5 million First Out Term Loan; (4) a $468.8 million Second Out Term Loan; and (5) a $135 million Third Out Term Loan. All three term loan tranches mature in August 2028, bringing the total secured debt to $1,236,559,195. The Prepetition ABL Facility was provided under a Credit Agreement dated August 2, 2024, between certain Debtor subsidiaries and JPMorgan Chase Bank, N.A. This senior secured asset-based revolving credit line had a maximum availability of $550 million, subject to borrowing base limitations, and was syndicated among approximately ten financial institutions. The ABL Facility is guaranteed by substantially all of DM Intermediate II Corporation's domestic subsidiaries and is secured by a first-priority lien on the Debtors' accounts receivable and inventory, and a junior lien on other collateral such as real estate and intellectual property. The Super-Senior Credit Agreement, also dated August 2, 2024, governs the Debtors' term loans and involves Wilmington Savings Fund Society, FSB as administrative agent. The agreement provides for three distinct tranches of debt, each with separate lien priorities. The First Out Term Loan totals $395.5 million and is secured by a first-priority lien on the Term Loan Priority Collateral and a second-priority lien on the ABL Priority Collateral. This tranche includes $122 million in incremental loans added in April 2025. The Second Out Term Loan totals $468.8 million and is secured by a second-priority lien on the Term Loan Priority Collateral. The Third Out Term Loan, totaling $135 million, is secured by a third-priority lien on the same collateral. About Del Monte Foods Founded in 1886 and headquartered in Walnut Creek, California, the Del Monte business has been a cornerstone of American grocery stores for more than 130 years. Del Monte Foods has been driven by its mission to nourish families with earth's goodness. As the original plant-based food company, Del Monte is always innovating to make nutritious and delicious foods more accessible to consumers across its portfolio of beloved brands, including Del Monte, Contadina, College Inn, Kitchen Basics, JOYBA, Take Root Organics and S&W. On the Web: http://www.delmontefoods.com/ or http://www.joyba.com/ On July 1, 2025, Del Monte Foods Corporation II, Inc., and 17 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) to address $1.235 billion in funded debt obligations. The Debtors' bankruptcy cases are pending before the Honorable Michael B. Kaplan. Herbert Smith Freehills Kramer (US) LLP and Cole Schotz P.C. are serving as legal counsel to Del Monte, Alvarez & Marsal North America, LLC is serving as financial advisor, and PJT Partners is serving as investment banker to the Company. Stretto is the claims agent. Wilmington Savings Fund Society, FSB, as DIP Term Loan Agent, is represented by: Jeffrey R. Gleit, Esq. Brett D. Goodman, Esq. ARENTFOX SCHIFF LLP 1301 Avenue of the Americas, 42nd Floor New York, NY 10019-6022 Telephone: (212) 484-3900 Email: Jeffrey.Gleit@afslaw.com Brett.Goodman@afslaw.com -- and -- Matthew R. Bentley, Esq. 233 South Wacker Drive, Suite 7100 Chicago, IL 60606 Telephone: (312) 258-5500 Email: Matthew.Bentley@afslaw.com JPMorgan Chase Bank, N.A., as Prepetition and DIP ABL Agent, is represented by: Alan J. Brody, Esq. GREENBERG TRAURIG, LLP 500 Campus Drive Florham Park, New Jersey 07932 Telephone: (973) 360-7900 Email: brodya@gtlaw.com -- and -- Sandeep Qusba, Esq. Nicholas E. Baker, Esq. Dov Gottlieb, Esq. Zachary J. Weiner, Esq. SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, NY 10017 Email: SQusba@stblaw.com NBaker@stblaw.com Dov.Gottlieb@stblaw.com Zachary.Weiner@stblaw.com DELTA QUAD: Hires Bankruptcy Law Center as Legal Counsel -------------------------------------------------------- Delta Quad Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of California to employ Bankruptcy Law Center, A Professional Corporation as counsel. The firm will provide these services: a. prepare pleadings, applications and conduct examinations incidental to administration; b. advise the Debtor with respect to its rights, powers, duties and obligations as a debtor in possession in the administration of this case, the management of its financial affairs and the management of their income and property; c. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; d. advise the Debtor regarding matters of bankruptcy law, including rights and remedies of Debtor with respect to its assets and with respect to claims of creditors and to communicate and negotiate with such creditors; e. advise and represent the Debtor in connection with all applications, motions or complaints for adequate protection, sequestration, relief from stays, appointment of a trustee or examiner and all other similar matters; f. develop the relationship of the status of the Debtor to the claims of creditors in these proceedings; g. advise and assist the Debtor in the formulation and presentation of a plan pursuant to Chapter 11 of the Bankruptcy Code and concerning any and all matters relating thereto; h. represent the Debtor in any necessary adversary proceedings; and i. perform any and all other legal services incident and necessary herein. The firm will be paid at these rates: Attorney Ahren Tiller $500 per hour Paralegal/Law Clerks $100 per hour The firm will be paid a retainer in the amount of $15,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ahren A. Tiller, Esq., a partner at Bankruptcy Law Center, APC, 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: Ahren A. Tiller, Esq. Bankruptcy Law Center, APC 1230 Columbia Street, Suite 1100 San Diego, CA 92101 Tel: (619) 894-8831 Fax: (866) 444-7026 About Delta Quad Holdings LLC Delta Quad Holdings LLC is a real estate company that owns a single property asset located at 925 Grand Blvd., Kansas City, Missouri. It operates as a single-asset entity within the real estate sector. Delta Quad Holdings LLC relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-02135) on May 29, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christopher B. Latham handles the case. The Debtors are represented by Ahren A. Tiller, Esq. at BANKRUPTCY LAW CENTER. DIAMOND COMIC: TwoMorrows Objects to Bankruptcy Stock Liquidation ----------------------------------------------------------------- Bleeding Cool reports that John Morrow, publisher of TwoMorrows Publishing, has formally objected to a plan in the Diamond Comic Distributors Chapter 11 bankruptcy case that would allow the liquidation of consignment stock owned by hundreds of publishers in order to pay off Diamond's debts to its lenders. Morrow filed the objection ahead of a scheduled court hearing set for Monday, July 21, 2025, just days before San Diego Comic-Con, when many affected publishers will be preoccupied with the industry's largest annual event. In his filing, titled "Objection to Debtors' Entry of an Order Approving (i) Procedures for Sale or Other Disposition of Consigned Inventory, (ii) Approving Sales or Other Disposition of Consigned Inventory Free and Clear of Liens, Claims, Interests, or Encumbrances, and (iii) Granting Related Relief," Morrow argues that the inventory sent to Diamond was consigned under a supply agreement and remains the legal property of TwoMorrows. "Our inventory was sent to Debtors on a consignment basis per the terms of our Supply Agreement, and is our property, not Debtor's," Morrow wrote. "My company has an ongoing financial interest in selling all merchandise that is still in Debtor's warehouse." He further objected to Diamond continuing to sell unsold products that were returned by booksellers without remitting payment to publishers, stating, "Unsold products that have been returned by booksellers to Debtor's inventory remain our consigned property until payment to us has been made." Morrow warned that allowing the liquidation to proceed would cause both immediate and long-term financial harm to his company. He noted that deeply discounted sales of TwoMorrows' inventory would not only deprive the publisher of rightful payments, but would also flood the market with low-priced versions of its products—undercutting future sales from its own warehouse and through its new distributor, Lunar Distribution, where the company was forced to shift operations after Diamond's bankruptcy, according to report. Additionally, Morrow requested that the July 21 hearing be postponed, citing a scheduling conflict with Comic-Con International: San Diego. "Comic-Con will be held from July 23-27, 2025 and I will be traveling July 21-30, 2025 in conjunction with it," he wrote, asking that the hearing be rescheduled to August 1 or later. About Diamond Comic Distributors, Inc. Founded in 1982, Diamond Comic Distributors Inc. offers a multi-channel platform of publishing, marketing and fulfillment services, coupled with an unparalleled global distribution Network for its retailers, publishers and vendors. Diamond Comic Distributors and its affiliates filed Chapter 11 petitions (Bankr. D. Md. Case No. 25-10308) on January 14, 2025. At the time of the filing, Diamond Comic Distributors reported between $50 million and $100 million in both assets and liabilities. Judge David E. Rice handles the case. The Debtors tapped Saul Ewing, LLP as legal counsel; Getzler Henrich & Associates, LLC as financial advisor; Raymond James & Associates, Inc. as investment banker; and Stephenson Harwood, LLP as U.K. counsel. Omni Agent Solutions is the Debtors' claims and noticing agent and administrative agent. DIOCESE OF SAN DIEGO: Jeff Anderson Updates List of Abuse Claimants ------------------------------------------------------------------- The law firm of Jeff Anderson & Associates, P.A., filed an amended 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 Sexual Abuse Claimant. Jeff Anderson & Associates has offices at 366 Jackson Street, Suite 100, Saint Paul, Minnesota 55101 and 12011 San Vicente Blvd, Ste 700, Los Angeles, CA 90049. Attorneys Michael Reck, among others at Jeff Anderson & 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. Jeff Anderson & Associates individually represents each Sexual Abuse Claimant. Due to confidentiality, each Claimant listed 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, Jeff Anderson & Associates 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. Attorneys for Certain Abuse Survivor Claimants: JEFF ANDERSON & ASSOCIATES, P.A. Michael Reck, Esq. Stacey Benson, Esq. 12011 San Vicente Blvd, Ste 700 Los Angeles, CA 90049 Telephone: 310-357-2425 Email: mreck@andersonadvocates.com stacey@andersonadvocates.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., as administrative advisor. DON ENTERPRISES: Taps Howard Hanna Real Estate Services as Broker ----------------------------------------------------------------- DON Enterprises, Inc. seek approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Howard Hanna Real Estate Services as real estate broker. The Debtor needs a broker to assist in the sale of its real property. The broker will receive a commission of 6 percent upon the sale of the property, with a flat fee of $425 per transaction. Renee Dean, a real estate agent at Howard Hanna Real Estate Services, 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: Renee Dean Howard Hanna Real Estate Services 2900 Wilmington Road New Castle, PA 16105 About DON Enterprises Inc. DON Enterprises Inc. is a nonprofit organization focusing on community revitalization, housing, and employment opportunities for people with disabilities. Through its range of programs and services, DON Enterprises strives to foster a more inclusive community while promoting independence and integration into society. DON Enterprises Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-20379) on February 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Kathryn L. Harrison, Esq. at Campbell & Levine, LLC. Wesbanco Bank, as lender, is represented by Jeffrey R. Lalama, Esq. at Meyer Unkovic & Scott LLP. DOS LAGOS: Hires Weintraub Zolkin Talerico & Selth as Counsel ------------------------------------------------------------- Dos Lagos Center 2, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Weintraub Zolkin Talerico & Selth LLP as counsel. The firm will rendeer these services: (a) advise the Debtor of its rights, powers, and duties; (b) advise concerning all general administrative matters in the bankruptcy case and dealings with the Office of the United States Trustee; (c) represent the Debtor at all hearings before the United States Bankruptcy Court, unless it is represented in that proceeding or hearing by other/special counsel; (d) prepare on the Debtor's behalf of all necessary legal papers; (e) advise the Debtor regarding matters of bankruptcy law; (f) represent the Debtor with regard to all contested matters; (g) represent the Debtor in any litigation commenced by, or against it, provided that such litigation is within the firm's expertise and subject to a further engagement agreement with it on terms acceptable to it and the firm; (h) represent the Debtor with regard to the negotiation, preparation and implementation of one or more plans of reorganization; (i) analyze any secured, priority, or general unsecured claims that have been filed in the bankruptcy case; (j) negotiate with the Debtor's secured and unsecured creditors regarding the amount and payment of claims; (k) object to claims as may be appropriate; and (l) perform all other legal services for the Debtor in its capacities, as may be necessary. The firm will be paid at these hourly rates: Daniel Weintraub, Of Counsel $750 Derrick Talerico, Partner $675 David Zolkin, Partner $675 James Selth, Of Counsel $585 Tania Ingman, Of Counsel $550 Catherine Liu, Partner $550 Michael Kim, Of Counsel $500 Paige Rolfe, Associate $425 Martha Araki, Paralegal $295 In addition, the firm will seek reimbursement for expenses incurred. The firm received a pre-petition retainer of $5,000 from the Debtor. Mr. Talerico 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: Derrick Talerico, Esq. Weintraub Zolkin Talerico & Selth LLP 11766 Wilshire Boulevard, Suite 730 Los Angeles, CA 90025 Telephone: (424) 500-8552 About Dos Lagos Center 2 LLC Dos Lagos Center 2 LLC is a California-based company engaged in commercial real estate development and property management. It operates in the Los Angeles area and is registered in the City of Industry. Dos Lagos Center 2 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-13642) on June 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Magdalena Reyes Bordeaux handles the case. The Debtor is represented by Derrick Talerico, Esq. at Weintraub, Zolkin Talerico & Selth LLP. DRIVERTECH LLC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Drivertech, LLC 1960 S Milestone Dr Ste B Salt Lake City, UT 84104 Business Description: DriverTech LLC provides telematics hardware and software solutions for commercial trucking fleets. The Company offers in-cab devices, fleet management software, and driver communication tools designed to support compliance, safety, and operational efficiency. Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court District of Utah Case No.: 25-23856 Judge: Hon. Peggy Hunt Debtor's Counsel: Douglas J. Payne, Esq. FABIAN VANCOTT 95 South State Street, Suite 2300 Salt Lake City, UT 84111-1653 Tel: 801-531-8900 E-mail: dpayne@fabianvancott.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $10 million to $50 million The petition was signed by Mark C. Haslam as managing member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/R2DAMRA/Drivertech_LLC__utbke-25-23856__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RTW4BRQ/Drivertech_LLC__utbke-25-23856__0001.0.pdf?mcid=tGE4TAMA DRIVERTECH LLC: Seeks Chapter 11 Bankruptcy in Utah --------------------------------------------------- On July 1, 2025, Drivertech LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Utah. 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 Drivertech LLC Drivertech LLC is a Salt Lake City, UT-based developer of mobile communications and GPS tracking systems for fleet and field-service management. Drivertech LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-23856) on July 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Peggy Hunt handles the case. The Debtors are represented by Douglas J. Payne, Esq. at Fabian Vancott. EXACTECH INC: Examiner Hires Sawyer & Nelson P.A. as Counsel ------------------------------------------------------------ Robert J. Keach, the fee examiner of Exactech Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Sawyer & Nelson, P.A. as counsel. The firm will provide these services: a. reviewing and assessing all Fee Applications and related invoices for compliance with: i. Bankruptcy Code sections 105, 327, 328, 329, 330, 331, 363, and 1103 as applicable, pursuant to each Retained Professional's retention order; ii. the Bankruptcy Rules; iii. the Local Rules; iv. the United States Trustee Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed Under 11 U.S.C. Section 330, C.F.R. Part 58, Appendix A, and the Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed under 11 U.S.C. Section 330 by Attorneys in Large Chapter 11 Cases Effective as of November 1, 2013, at 28 C.F.R. Part 58, Appendix B (collectively the "UST Guidelines"); v. the Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals ("Interim Compensation Order") [Docket No. 253]; and vi. the Fee Examiner Order. b. assisting the Fee Examiner in any hearings or other proceedings before the Court to consider the Fee Applications including, without limitation, advocating positions asserted in the reports filed by the Fee Examiner and on behalf of the Fee Examiner; c. assisting the Fee Examiner with legal issues raised by inquiries to and from the Retained Professionals and any other professional services provider retained by the Fee Examiner; d. where necessary, attending meetings between the Fee Examiner and the Retained Professionals; e. assisting the Fee Examiner with the preparation of preliminary and final reports regarding professional fees and expenses; f. assisting the Fee Examiner in developing protocols and making reports and recommendations; and g. providing such other services as the Fee Examiner may request. The firm will be paid at these rates: Shareholders Attorneys $395 to $850 per hour Associate Attorney $300 to $375 per hour Robert J. Keach, Shareholder $850 per hour Louis H. Kornreich, Of Counsel $810 per hour D. Sam Anderson, Shareholder $650 per hour Lindsay Z. Milne, Shareholder $595 per hour Adam R. Prescott, Shareholder $495 per hour Letson D. Boots, Shareholder $395 per hour Brita J. Forssberg, Of Counsel $410 per hour Jennifer Novo, Associate $325 per hour Angela Stewart, Paralegal $320 per hour The following is provided in response to the request for additional information set forth in Paragraph D.1 of the UST Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post petition, explain the difference and the reasons for the difference. Answer: N/A Question: Has the Fee Examiner approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Fee Examiner will approve a budget and general staffing plan in connection with BSSN's representation of the Fee Examiner. Robert J. Keach, a partner at Sawyer & Nelson, P.A., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert J. Keach, Esq. Sawyer & Nelson, P.A. 100 Middle Street, West Tower Portland, ME 04104 Telephone: (207) 774-1200 Facsimile: (207) 228-7334 Direct Email: rkeach@bernsteinshur.com About Exactech Inc. Exactech Inc. -- https://www.exac.com/ -- is a joint-replacement implant manufacturer owned by TPG Capital. Exactech Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-12441) on October 29, 2024. In the petition filed by Donna H. Edwards, as general counsel and senior vice president, the Debtor estimated assets and liabilities between $100 million and $500 million each. The Debtor is represented by Ryan M. Bartley, Esq. at Young Conaway Stargatt & Taylor, LLP. The creditors are represented by Eric Goodman, Esq., David Molton, Esq., and Cameron Moxley, Esq. at Brown Rudnick and TPG is represented by Mark Premo-Hopkins, Esq. at Kirkland & Ellis. FERNANDEZ P. ENTERPRISE: Seeks Chapter 11 Bankruptcy in Florida --------------------------------------------------------------- On July 8, 2025, Fernandez P. Enterprise LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Fernandez P. Enterprise LLC Fernandez P. Enterprise LLC is a single asset real estate company operating in Margate, Florida. Fernandez P. Enterprise LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-17777) on July 8, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Peter D. Russin handles the case. FORTRESS INTERMEDIATE: S&P Affirms 'B' ICR on Refinancing --------------------------------------------------------- S&P Global Ratings affirmed its 'B' issuer credit rating on Fortress Intermediate 3 (doing business as Presidio). S&P said, "We also assigned our 'B' issue-level rating and '3' recovery rating to Presidio's repriced $1,844 billion first-lien senior secured term loan B. "The stable outlook on Presidio reflects our view that revenue will increase in the mid- to high-single-digit percentage area over the next 12 months due to the resurgence of hardware growth, continued growth in cloud, stand-alone software, and services and revenue from acquisitions. Our base case scenario assumes S&P Global Ratings-adjusted debt to EBITDA declines to the high-5x area and free operating cash flow (FOCF) to debt remains about 6%-7% in fiscal 2026." Presidio recently completed the repricing of its existing $1,844 million term loan B and reduced its pricing by 50 basis points (bps), saving the company about $9.2 million per year. This transaction is leverage neutral, with the company's 7.4x S&P Global Ratings-adjusted debt leverage remaining unchanged as of March 31, 2025. S&P expects it will decline to around 6.3x this year with further improvement in 2026. The rating affirmation reflects S&P's expectation that credit metrics will continue to improve in 2025 and 2026 due to good operating performance and cash flow generation will improve due to interest savings from the leverage-neutral repricing. Presidio's revenue increased 22.6% in the third quarter of fiscal 2025 and 6.9% for the nine-months-ended March 31, 2025, primarily reflecting gains across hardware, software, public cloud, and maintenance segments. Additionally, service revenue increased approximately 10%, driven by foundational services across all categories. Although the higher proportion of hardware revenue negatively affected gross margin, Presidio effectively managed selling, general, and administrative (SG&A) expenses, leading to improved S&P Global Ratings-adjusted EBITDA margins and modest overall margin expansion. Cash flow generation has remained strong, benefiting from solid operational performance and working capital improvements, notably the collection of aged receivables and initiatives aimed at driving working capital efficiencies. S&P said, "Moreover, we anticipate Presidio's recently completed term loan repricing to yield annual interest expense savings of approximately $9.2 million, which should be further supportive of future cash flow generation. For the full-fiscal-year ended June 30, 2025, we anticipate leverage will improve to 6.3x, down from 7.4x as of March 31, 2025, driven by sustained operational momentum and the roll-off of expenses related to the 2024 leveraged buyout and restructuring actions." Presidio's gross profit mix continues to skew towards higher margin and recurring products. Despite the ongoing tariff disputes, Presidio has not experienced changes in demand or project deferrals. As of the third quarter of 2025, the company's backlog stood at $2.3 billion, a modest decrease from the previous quarter, primarily due to the timing of large deal closings. In our updated forecast, S&P anticipates the backlog will continue to trend upward over time, thereby enhancing visibility into future revenue. As of March 31, 2025, standalone software, services, and public cloud accounted for 52% of the company's gross profit, up from 47% in 2023 and significantly higher than the 23% reported in 2018. S&P said, "We view this shift in product mix favorably, as these offerings have higher gross margins and lower capital intensity. Moreover, recurring gross profit continues to grow in importance, representing approximately 40% of total gross profit at the end of third-quarter 2025, up from 35% in December 2023 and just 12% in December 2018. We expect recurring gross profit to remain a strategic focus. Should demand conditions weaken due to tariffs or deteriorating economic conditions, we believe Presidio's backlog and increasing recurring gross profit will help mitigate these pressures and sustain operating performance." S&P said, "We expect Presisio will continue making acquisitions with cash flow and debt. We believe IT solutions providers like Presidio view acquisitions as an important growth avenue because they generally increase technological capabilities, talent availability, and serviceable geographies. In 2025, the company made three acquisitions and funded them with internally generated cash flow. We expect these acquisitions will add about $25 million of EBITDA in 2026. While we view cash-funded acquisitions as less risky because debt-funded acquisitions tend to be bigger and may come with higher integration risk and cost. However, Presidio has a strong history of integrating tuck-in acquisitions, including 12 acquisitions over the past 10 years. We expect the company to use future leverage capacity to continue this acquisitive strategy, but we expect it will prudently allocate capital such that leverage will remain below 6.5x. "The stable rating outlook on Presidio reflects our forecast that it will increase its total organic revenue by the mid- to high-single-digit percentage area over the next 12 months, due to growing hardware sales combined with growth in cloud, stand-alone software, and services. Our base-case scenario assumes S&P Global Ratings-adjusted debt to EBITDA in the high-5x area and FOCF to debt of about 6%-7% through fiscal 2026. "We could lower our rating on Presidio if the company's leverage remains above 6.5x and its FOCF to debt drops below 2.5% without near-term prospects for improvement." This could result from: -- Weak demand for products from its key suppliers; -- A prolonged downturn in customer IT spending due to a recession; -- Declining profitability stemming from increased competition or a disruption in the rebate environment; or -- A more aggressive financial policy, including further acquisitions resulting in leverage above 6.5x. S&P said, "Although unlikely given its financial-sponsor ownership, we could raise our rating on Presidio if EBITDA growth or debt prepayment decrease and keep leverage below 5x. This would most likely occur if the company's revenue in its cloud and security solutions segment continue to grow, its largest product supplier experiences strong performance, and it uses FOCF for early debt repayment." FRED RAU: Gets OK to Use Cash Collateral Until July 31 ------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of California, Fresno Division granted Fred Rau Dairy Inc.'s motion to use cash collateral. The court authorized the Debtor's interim use of cash collateral, including those funds in its Wells Fargo accounts, until July 31 in accordance with its budget. A 10% budget variance is allowed. Creditors with security interests in the cash collateral were granted replacement liens on all of the Debtor's assets, with the same validity and priority as their pre-bankruptcy liens. AgWest Farm Credit, FLCA and AgWest Farm Credit, PCA may, but are not required to, seek payments as protection. A final hearing is scheduled for July 16. About Fred Rau Dairy Inc. Fred Rau Dairy, Inc. operates a large-scale dairy farm in Fresno, California. The family-owned business utilizes advanced robotic milking systems and automated feeding technologies. It has been part of the regional agricultural sector since 1976. Fred Rau Dairy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-11791) on May 29, 2025. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Judge Jennifer E. Niemann handles the case. The Debtor is represented by: Peter L Fear Fear Waddell, P.C. Tel: 559-436-6575 Email: fearnotice@gmail.com FTX TRADING: To Eliminate Broad Future Claims to Protect Resources ------------------------------------------------------------------ Alex Wolf of Bloomberg Law reports that FTX Trading Ltd., now operating as a trust to repay customers whose crypto assets were frozen during its 2022 collapse, is seeking court approval to bypass the review and reconciliation of late-filed claims by implementing procedures to automatically reject them. In a Tuesday, July 8, 2025, filing with the U.S. Bankruptcy Court for the District of Delaware, the company said summarily disallowing untimely claims would streamline its efforts to process over $27 quintillion in Chapter 11 payment requests. About FTX Trading Ltd. FTX is the world's second-largest cryptocurrency firm. FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that FTX paused customer withdrawals after it was hit with roughly $5 billion worth of withdrawal requests. Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell itself to its giant rival Binance, but Binance walked away from the deal amid reports on FTX regarding mishandled customer funds and alleged US agency investigations. At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step aside, and restructuring vet John J. Ray III was quickly named new CEO. FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc. (d/b/a FTX US), Alameda Research Ltd. and certain affiliated companies then commenced Chapter 11 proceedings (Bankr. D. Del. Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022. Additional entities sought Chapter 11 protection on Nov. 14, 2022. FTX Trading and its affiliates each listed $10 billion to $50 million in assets and liabilities, making FTX the biggest bankruptcy filer in the US this year. According to Reuters, SBF shared a document with investors on Nov. 10 showing FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy. The Hon. John T. Dorsey is the case judge. The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel; Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal North America, LLC as financial advisor. Kroll is the claims agent, maintaining the page https://cases.ra.kroll.com/FTX/Home-Index The official committee of unsecured creditors tapped Paul Hastings as bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as Delaware and conflicts counsel; FTI Consulting, Inc. as financial advisor; and Jefferies, LLC as investment banker. Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory T. Donilon, Edward L. Schnitzer, and David M. Banker, is representing Sam Bankman-Fried in the Chapter 11 cases. White collar crime specialist Mark S. Cohen has reportedly been hired to represent SBF in litigation. Lawyers at Paul Weiss previously represented SBF but later renounced representing the entrepreneur due to a conflict of interest. FUSION SPONSOR: Del. Chancery Court to Approve $12.75M Settlement ----------------------------------------------------------------- Pursuant to an order Court of Chancery of the State of Delaware ("Court") and Rule 23 of the Delaware Rules of Civil Procedures, that (i) stockholder class action ("Action") pending in the Court has been preliminarily certified as a class action on behalf of the beneficial holders of Fusion Acquisition Corp. ("FAC") class A common stock, and (ii) Kyle Martel and Joe Bryant ("Plaintiffs"), and FAC, John James, Jeffrey Gary, Jim Ross, Kelly Driscoll, Ben Buettell, Diwakar Choubey, and Broadhaven Capital Partners LLC ("FAC Defendants") have reached a proposed settlement of $12.75 million in cash as set forth in a stipulation, which is available at https://https://moneylionstockholdersettlement.com. The settlement, if approved by the Court, will resolve all claims in the action. A hearing will be held on July 24, 2025, at 11:00 a.m., before the Hon. Nathan A. Cook, Vice Chancellor, at the Court of Chancery of the State of Delaware, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, or remotely by telephone or videoconference. To maximize your recovery potential from the settlement, class members must submit a proof of claim form by no later than Sept. 2, 2025. Object to the settlement by submitting a written objection so that it is received no later than July 9, 2025. The Action arises out of FAC Defendants' alleged impairment of FAC Class A common stockholders' right to make an informed redemption in connection with the business combination between FAC and Legacy MoneyLion ("Merger"). The FAC Defendants were duty bound to provide FAC stockholders with all material information related to their redemption decision in an honest and forthright manner. Plaintiffs allege: (i) that the FAC Defendants, aided and abetted by Choubey and Broadhaven, caused FAC to make materially false and misleading public statements about the benefits of the proposed business combination; (ii) that the Merger was not entirely fair to FAC stockholders, and (iii) that the alleged breaches of fiduciary duty, related aiding and abetting breaches of fiduciary duty, and unjust enrichment harmed the Class by, among other things, dissuading Class Members from redeeming their stock. In this Action, Plaintiffs sought an award of monetary and/or rescissory damages to themselves and the Class. Defendants deny any and all allegations of wrongdoing, fault, liability, or damages whatsoever in connection with the Action, including, but not limited to, any allegations that any Defendants have committed any violations of law or breach of any duty owed to FAC stockholders, that the Merger was not entirely fair to, or in the best interests of, FAC stockholders, that Defendants have acted improperly in any way, that Defendants have any liability or owe any damages of any kind to Plaintiffs and/or the Class, and/or that any Defendants were unjustly enriched in, or as a result of, the Merger. If you have questions regarding the Settlement, you may contact the Settlement Administrator: MoneyLion Stockholder Settlement c/o A.B. Data, Ltd. P.O. Box 173115 Milwaukee, WI 53217 Tel: 877-390-3144; or Kelly L. Tucker, Esq. Plaintiffs' Counsel Grant & Eisenhofer P.A. 123 Justison Street Wilmington, DE 19801 Tel: 302-622-7000 Email: ktucker@gelaw.com Register in Chancery can be reached at: Register in Chancery Court of Chancery of the State of Delaware Leonard L. Williams Justice Center 500 North King Street Wilmington, DE 19801 Plaintiffs' Counsel: Kelly L. Tucker, Esq. Grant & Eisenhofer P.A. 123 Justison Street Wilmington, DE 19801 Email: ktucker@gelaw.com Adam J. Blander, Esq. Wolf Popper LLP 845 Third Avenue New York, NY 10022 Email: ablander@wolfpopper.com FAC Defendants' Counsel: Paul J. Loughman, Esq. Young Conaway Stargatt & Taylor LLP Rodney Square 1000 North King Street Wilmington, DE 19801 Email: ploughman@ycst.com William M. Lafferty, Esq. Morris, Nichols, Arsht & Tunnel, LLP 1201 North Market Street 16th Floor Wilmington, DE19801 Email: wlafferty@morrisnichols.com Bradley R. Aronstam, Esq. Ross Aronstam & Moritz LLP Hercules Building 1313 North Market Street Suite 1001 Wilmington, DE 19801 Email: BAronstam@ramllp.com Fusion Acquisition Corp. -- https://www.fusionacq.com -- is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. GENESIS HEALTHCARE: Case Summary & 30 Largest Unsecured Creditors ----------------------------------------------------------------- Lead Debtor: Genesis Healthcare, Inc. 101 East State Street Kennett Square, PA 19348 Business Description: Genesis Healthcare, Inc. is a holding company whose subsidiaries operate approximately 175 skilled nursing and assisted living facilities across 18 U.S. states. The Company provides post-acute care, including short- and long-term services, as well as specialized offerings such as orthopedic rehabilitation, Alzheimer's care, ventilator and dialysis care. Its subsidiaries also offer contract rehabilitation therapy, physician services, respiratory therapy, staffing, and accountable care. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Southern District of Texas Two hundred ninety-nine affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Genesis Healthcare, Inc. (Lead Case) 25-80185 624 N. Converse Street Property, LLC 25-80182 850 12th Avenue Property, LLC 25-80183 GHC TX Operations LLC 25-80184 211-213 Ana Drive Operations LLC 25-80186 Genesis WV Holdings LLC 25-80187 1 Glen Hill Road Operations LLC 25-80188 2125 Elizabeth Avenue Operations LLC 25-80189 330 Franklin Turnpike Operations LLC 25-80190 Powerback Rehabilitation, LLC 25-80191 22 Tuck Road Operations LLC 25-80192 333 Green End Avenue Operations LLC 25-80193 PRMC/GEC at Salisbury Center, LLC 25-80194 1 Sutphin Drive Operations LLC 25-80195 GHC Holdings LLC 25-80196 3430 Huntingdon Pike Operations LLC 25-80197 225 Evergreen Road Operations LLC 25-80198 227 Evergreen Road Operations LLC 25-80199 2 Blackberry Lane Operations LLC 25-80200 3485 Davisville Road Operations II LLC 25-80201 Property Resource Holdings, LLC 25-80202 23 Fair Street Operations LLC 25-80203 10 Woodland Drive Operations LLC 25-80204 23 Fair Street Property, LLC 25-80205 Regency Health Services, LLC 25-80206 GHC JV Holdings LLC 25-80207 24 Old Etna Road Operations LLC 25-80208 Respiratory Health Services LLC 25-80209 11 Dairy Lane Operations LLC 25-80210 2400 Kingston Court Operations LLC 25-80211 GHC Payroll LLC 25-80212 3514 Fowler Avenue Operations LLC 25-80213 12-15 Saddle River Road Operations LLC 25-80214 Romney Health Care Center Limited Partnership 25-80216 25 Ridgewood Road Operations LLC 25-80217 3590 Washington Pike Operations LLC 25-80218 Route 92 Operations LLC 25-80219 20 Maitland Street Operations LLC 25-80220 Saddle Shop Road Operations LLC 25-80221 100 Abbeyville Road Operations LLC 25-80222 2507 Chestnut Street Operations LLC 25-80223 Granite Ledges JV LLC 25-80224 3720 Church Rock Street Operations LLC 25-80225 Salisbury JV LLC 25-80226 2600 Northampton Street Operations LLC 25-80227 100 Chambers Street Operations LLC 25-80228 Harborside Danbury Limited Partnership 25-80229 262 Toll Gate Road Operations LLC 25-80230 390 Red School Lane Operations LLC 25-80231 100 W. Queen Street Operations LLC 25-80232 2720 Charles Town Road Operations LLC 25-80233 101 13th Street Operations LLC 25-80234 Scarborough Operations, LLC 25-80235 279 Cabot Street Operations LLC 25-80236 Harborside Health I LLC 25-80237 SHG Partnership, LLC 25-80238 279 Cabot Street Property LLC 25-80239 40 Crosby Street Operations LLC 25-80240 2800 Palo Parkway Operations LLC 25-80241 SHG Resources, LLC 25-80242 Harborside Healthcare Advisors Limited Partnership 25-80243 40 Whitehall Road Operations LLC 25-80244 290 Hanover Street Operations LLC 25-80245 101 Development Group, LLC 25-80246 292 Applegarth Road Operations LLC 25-80247 Harborside Healthcare Limited Partnership 25-80248 3 Industrial Way East Operations LLC 25-80249 105 Chester Road Operations LLC 25-80250 Skies Healthcare and Rehabilitation Center, LLC 25-80251 Harborside Healthcare, LLC 25-80252 106 Tyree Street Operations LLC 25-80253 30 West Avenue Operations LLC 25-80254 Skiles Avenue and Sterling Drive Urban Renewal Operations LLC 25-80255 40 Whitehall Road Property LLC 25-80256 300 Pearl Street Operations LLC 25-80257 113 W. McMurray Road Operations LLC 25-80258 3000 Windmill Road Operations LLC 25-80259 115 S. Providence Road Operations LLC 25-80260 Skilled Healthcare, LLC 25-80261 Harborside New Hampshire Limited Partnership 25-80262 400 McKinley Avenue Operations LLC 25-80263 302 Cedar Ridge Road Operations LLC 25-80264 125 Holly Road Operations LLC 25-80265 Albuquerque Heights Healthcare and Rehabilitation 25-80266 Skowhegan SNF Operations, LLC 25-80267 4140 Old Washington Highway Operations LLC 25-80268 Albuquerque Heights Property, LLC 25-80269 128 East State Street Associates, LLC 25-80270 St. Anthony Healthcare and Rehabilitation Center 25-80271 419 Harding Street Operations LLC 25-80272 Belen Meadows Healthcare and Rehabilitation Center 25-80273 Harborside Rhode Island Limited Partnership 25-80274 136 Donahoe Manor Road Operations LLC 25-80275 422 23rd Street Operations LLC 25-80276 Belfast Operations, LLC 25-80277 St. Catherine Healthcare and Rehabilitation Center 25-80278 161 Bakers Ridge Road Operations LLC 25-80279 Brier Oak on Sunset, LLC 25-80280 Harborside Toledo Business LLC 25-80281 425 Buttonwood Street Operations LLC 25-80282 St. John Healthcare and Rehabilitation Center, LLC 25-80283 175 Blueberry Lane Operations LLC 25-80284 Camden Operations, LLC 25-80285 450 East Philadelphia Avenue Operations LLC 25-80286 191 Hackett Hill Road Operations LLC 25-80287 St. Theresa Healthcare and Rehabilitation Center 25-80288 462 Main Street Operations LLC 25-80289 HBR Kentucky, LLC 25-80290 Canyon Albuquerque Property, LLC 25-80291 State Street Associates, L.P. 25-80292 200 Pauline Drive Operations LLC 25-80293 50 Mulberry Tree Street Operations LLC 25-80294 State Street Kennett Square, LLC 25-80295 Canyon Transitional Rehabilitation Center, LLC 25-80296 200 Reynolds Avenue Operations LLC 25-80297 HBR Trumbull, LLC 25-80298 Clovis Healthcare and Rehabilitation Center, LLC 25-80299 Stillwell Road Operations LLC 25-80300 50 Pheasant Road Operations LLC 25-80301 Encore GC Acquisition LLC 25-80302 200 South Ritchie Avenue Operations LLC 25-80303 Summit Care Parent, LLC 25-80304 Encore Pediatrics, LLC 25-80305 201 Wood Street Operations LLC 25-80306 HC 63 Operations LLC 25-80307 Summit Care, LLC 25-80308 Encore Preakness, LLC 25-80309 500 East Philadelphia Avenue Operations LLC 25-80310 1000 Lincoln Drive Operations LLC 25-80311 Encore Rehabilitation Services, LLC 25-80312 501 Thomas Jones Way Operations LLC 25-80313 Kansas City Transitional Care Center, LLC 25-80314 1008 Thompson Street Operations LLC 25-80315 Falmouth Operations, LLC 25-80316 1020 South Main Street Operations LLC 25-80317 Farmington Operations, LLC 25-80318 1070 Stouffer Avenue Operations LLC 25-80319 FC-GEN Operations Investment, LLC 25-80320 Kennebunk Operations, LLC 25-80321 Sun Healthcare Group, Inc. 25-80322 1100 Norman Eskridge Highway Operations LLC 25-80323 Five Ninety Six Sheldon Road Operations LLC 25-80324 Kennett Center, L.P. 25-80325 Forty Six Nichols Street Operations LLC 25-80326 1104 Welsh Road Operations LLC 25-80327 SunBridge Beckley Health Care LLC 25-80328 505 Weyman Road Operations LLC 25-80329 Fountain Holdco, LLC 25-80330 1105 Perry Highway Operations LLC 25-80331 KHI LLC 25-80332 530 Macoby Street Operations LLC 25-80333 SunBridge Care Enterprises, LLC 25-80334 1245 Church Road Operations LLC 25-80335 Leasehold Resource Group, LLC 25-80336 54 Sharp Street Operations LLC 25-80337 1248 Hospital Drive Operations LLC 25-80338 SunBridge Clipper Home of North Conway, LLC 25-80339 GEN Operations I, LLC 25-80340 Lewiston Operations, LLC 25-80341 5485 Perkiomen Avenue Operations LLC 25-80342 1361 Route 72 West Operations LLC 25-80343 GEN Operations II, LLC 25-80344 GEN-CCG WO Master Tenant LLC 25-80345 1539 Country Club Road Operations LLC 25-80346 LTC ACO, LLC 25-80347 550 South Negley Avenue Operations LLC 25-80348 Genesis Administrative Services LLC 25-80349 1543 Country Club Road Manor Operations LLC 25-80350 5609 Fifth Avenue Operations LLC 25-80351 Magnolia JV LLC 25-80352 Genesis CT Holdings LLC 25-80353 1631 Ritter Drive Operations LLC 25-80354 Genesis CT XCL Operations LLC 25-80355 590 North Poplar Fork Road Operations LLC 25-80356 1650 Galisteo Street Operations LLC 25-80357 Genesis DE Holdings LLC 25-80358 Maryland Harborside, LLC 25-80359 60 Highland Road Operations LLC 25-80360 1680 Spring Creek Road Operations LLC 25-80361 Genesis Dynasty Operations LLC 25-80362 Metro Therapy, Inc. 25-80363 600 Paoli Pointe Drive Operations LLC 25-80364 1700 Market Street Operations LLC 25-80365 Genesis Eldercare Network Services, LLC 25-80366 1700 Pine Street Operations LLC 25-80367 SunBridge Clipper Home of Wolfeboro, LLC 25-80368 Nine Haywood Avenue Operations LLC 25-80369 Genesis ElderCare Physician Services, LLC 25-80370 600 W. Valley Forge Road Operations LLC 25-80371 Genesis HealthCare LLC 25-80372 Odd Lot LLC 25-80373 SunBridge Dunbar Health Care LLC 25-80374 613 Hammonds Lane Operations LLC 25-80375 Genesis HealthCare of Maine, LLC 25-80376 SunBridge Gardendale Health Care Center, LLC 25-80377 Orono Operations, LLC 25-80378 640 Bethlehem Pike Operations LLC 25-80379 Genesis Holdings LLC 25-80380 Genesis MA Holdings LLC 25-80381 SunBridge Goodwin Nursing Home, LLC 25-80382 642 Metacom Avenue Operations LLC 25-80383 PAI Participant 1, LLC 25-80384 Genesis MD Holdings LLC 25-80385 Genesis Midwest II Operations LLC 25-80386 Genesis NH Holdings LLC 25-80387 PAI Participant 2, LLC 25-80388 1770 Barley Road Operations LLC 25-80389 660 Commonwealth Avenue Operations LLC 25-80390 PAI Participant 3, LLC 25-80391 Genesis NHG Operations LLC 25-80392 677 Court Street Operations LLC 25-80393 1848 Greentree Road Operations LLC 25-80394 PAI Participant 4, LLC 25-80395 Genesis NHG-GEN Operations LLC 25-80396 2021 Westgate Drive Operations LLC 25-80397 Genesis NJ Holdings LLC 25-80398 PBR Intermediate Holdings, LLC 25-80399 SunBridge Nursing Home, LLC 25-80400 2029 Westgate Drive Operations LLC 25-80401 Genesis OMG Operations LLC 25-80402 SunBridge Putnam Health Care LLC 25-80403 PDDTSE, LLC 25-80404 Genesis Operations III LLC 25-80405 2101 Fairland Road Operations LLC 25-80406 SunBridge Regency-North Carolina, LLC 25-80407 7 Baldwin Street Operations LLC 25-80408 Genesis Operations IV LLC 25-80409 Peak Medical Assisted Living, LLC 25-80410 Genesis Operations LLC 25-80411 Genesis Operations V LLC 25-80412 Genesis Operations VI LLC 25-80413 Peak Medical Las Cruces No. 2, LLC 25-80414 Genesis Orion Operations LLC 25-80415 Peak Medical Las Cruces, LLC 25-80416 Genesis PA Holdings LLC 25-80417 SunBridge Regency-Tennessee, LLC 25-80418 Genesis Partnership LLC 25-80419 SunBridge Retirement Care Associates, LLC 25-80420 Peak Medical New Mexico No. 3, LLC 25-80421 Genesis Physician Services MSO, LLC 25-80422 SunBridge Salem Health Care LLC 25-80423 Genesis PM CO Operations LLC 25-80424 SunDance Rehabilitation Agency, LLC 25-80425 Genesis PM NJ Operations LLC 25-80426 Genesis PM PA Operations LLC 25-80427 700 Marvel Road Operations LLC 25-80428 SunDance Rehabilitation Holdco, Inc. 25-80429 Peak Medical Roswell, LLC 25-80430 Genesis RI Holdings LLC 25-80431 700 Town Bank Road Operations LLC 25-80432 SunDance Rehabilitation, LLC 25-80433 Genesis VA Holdings LLC 25-80434 The Rehabilitation Center of Albuquerque, LLC 25-80435 715 East King Street Operations LLC 25-80436 Peak Medical, LLC 25-80437 Genesis SNI Operations LLC 25-80438 Thirty Five Bel-Aire Drive SNF Operations LLC 25-80439 723 Summers Street Operations LLC 25-80440 Genesis Tang Operations LLC 25-80441 Pine Tree Villa LLC 25-80442 Three Mile Curve Operations LLC 25-80443 Genesis VT Holdings LLC 25-80444 Post-Acute Innovations, LLC 25-80445 Waterville SNF Operations LLC 25-80446 724 N. Charlotte Street Operations LLC 25-80447 Westbrook Operations, LLC 25-80448 Powerback Pediatrics of Arkansas, LLC 25-80449 735 Putnam Pike Operations LLC 25-80450 Westwood Medical Park Operations LLC 25-80451 Powerback Pediatrics of Georgia, LLC 25-80452 75 Hickle Street Operations LLC 25-80453 Courtyard JV LLC 25-80454 777 Lafayette Road Operations LLC 25-80455 Powerback Pediatrics of Missouri, LLC 25-80456 Franklin Woods JV LLC 25-80457 8 Rose Street Operations LLC 25-80458 GEN BQ JV HOLDINGS LLC 25-80459 Powerback Pediatrics of Nebraska, LLC 25-80460 GEN CCG JV Holdings LLC 25-80461 8 Snow Road Operations LLC 25-80462 Powerback Pediatrics of South Carolina, LLC 25-80463 GEN SF JV Holdings, LLC 25-80464 Powerback Pediatrics of Vermont, LLC 25-80465 GEN-Next Holdco I, LLC 25-80466 80 Maddex Drive Operations LLC 25-80467 800 Court Street Circle Operations LLC 25-80468 803 Hacienda Lane Operations LLC 25-80469 885 MacBeth Drive Operations LLC 25-80470 8100 Washington Lane Operations LLC 25-80471 825 SUMMIT STREET OPERATIONS LLC 25-80472 84 Cold Hill Road Operations LLC 25-80473 840 Lee Road Operations LLC 25-80474 867 York Road Operations LLC 25-80475 900 Tuck Street Operations LLC 25-80476 91 Country Village Road Operations LLC 25-80477 940 Walnut Bottom Road Operations LLC 25-80478 98 Hospitality Drive Operations LLC 25-80479 SunBridge Healthcare, LLC 25-80480 Judge: Hon. Stacey G Jernigan Debtors' General Bankruptcy Counsel: Marcus A. Helt, Esq. Jack G. Haake, Esq. Grayson Williams, Esq. MCDERMOTT WILL & EMERY LLP 2801 N. Harwood Street, Suite 2600 Dallas, Texas 75201-1574 Tel: (214) 295-8000 Fax: (972) 232-3098 Email: mhelt@mwe.com jhaake@mwe.com gwilliams@mwe.com - and - Daniel M. Simon, Esq. Emily C. Keil, Esq. William A. Guerrieri, Esq. MCDERMOTT WILL & EMERY LLP 444 West Lake Street, Suite 4000 Chicago, Illinois 60606 Tel: (312) 372-2000 Fax: (312) 984-7700 Email: dsimon@mwe.com ekeil@mwe.com wguerrieri@mwe.com Debtors' Investment Banker: JEFFERIES, LLC Debtors' Claims, Noticing, Administrative & Solicitation Agent: EPIQ CORPORATE RESTRUCTURING, LLC Estimated Assets: $1 billion to $10 billion Estimated Liabilities: $1 billion to $10 billion The petitions were signed by Russell A. Perry as co-chief restructuring officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/X3O7JYY/Genesis_Healthcare_Inc__txnbke-25-80185__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. MAO 22322 LLC Real Estate Loan $324,008,214 45 E. City Ave., Suite 433 Bala Cynwyd, PA 19004 2. Internal Revenue Service Deferred $103,657,703 1111 Constitution Avenue Northwest Payroll Taxes Washington, D.C., 20224 Name: Ettore Sacco Email: Ettore.F.Sacco@irs.gov Phone: (215) 344-6535 3. Healthcare Services Group Inc. Trade Payables $68,064,102 P.O. Box 829677 Philadelphia, PA 19182-9677 Name: Patrick Orr Email: porr@hcsgcorp.com Phone: (215) 688-4359 4. Commonwealth of Pennsylvania Provider $58,050,603 P.O. Box 8025 Assessments Harrisburg, PA 17105-8025 Name: Erica Justice Email: RA- PWOLTLNFPUBLICCOM@pa.gov Phone: (877) 395-8930 5. Change Healthcare Operations, LLC Funding $46,400,466 One Health Drive MN103-0500 Assistance Eden Prairie, MN 55344 Program Name: Paul Runice Email: paul_runice@uhg.com Phone: (952) 936-7346 6. Omnicare Trade Payables $40,781,416 900 Omnicare Center 201 East 4th St Cincinnati, OH 45202 Name: Joshua Perlin Email: Joshua.perlin@omnicare.com Phone: (602) 769-2923 7. Medline Industries Inc. Trade Payables $32,320,666 P.O. Box 382075 Pittsburgh, PA 15251-8075 Name: Mike Drazin Email: MDrazin@medline.com Phone: (224) 931-1459 8. PharMerica Trade Payables $20,146,040 P.O. Box 644458 Pittsburgh, PA 15264-4458 Name: Jennifer Yowler Email: Jennifer.yowler@pharmerica.com Phone: (513) 490-8498 9. CareerStaff Unlimited LLC Trade Payables $13,810,797 Attn: Finance Dep't 101 Sun Avenue NE Albuquerque, NM, 8710 Name: Todd Walrath Email: twalrath@HomeCare.com Phone: (703) 887-2191 10. Direct Supply Inc. Trade Payables $12,711,034 P.O. Box 88201 Milwaukee, WI 53288-0201 Name: Jim Pieroth Email: jpieroth@directs.com Phone: (414) 358-7478 11. 1199 New England Health Care Pension Fund $12,349,853 Employees Pension Fund 77 Huyshope Ave, 2nd Floor Hartford, CT, 06106-7001 Name: General Counsel Email: pension@1199nefunds.org Phone: (800) 227-4744 Option 7 12. Kam, Phan Arbitration $7,000,000 c/o Bender & Agboola, L.L.C. Award 711 18th Street N. Birmingham, AL, 35203 Name: Adedapo T. Agboola Email: agbula@aol.com Phone: (205) 322-2500 13. Sysco Trade Payables $6,789,682 Attn: Cash App Team 1390 Enclave Parkway Houston, TX, 77077 Name: Sabrina Witherspoon Email: Sabrina.Witherspoon@sysco.com Phone: (512) 827-6342 14. Synergi Partners Trade Payables $5,588,465 151 W. Evans Street Florence, SC, 29501 Name: Jeff Walker Email: jwalker@synergipartners.com Phone: (770) 262-7294 15. State of New Mexico Provider $5,084,788 1200 South St. Francis Drive Assessments Santa Fe, NM, 87505 Name: Rick Lopez Email: Rick.Lopez@tax.nm.gov Phone: (505) 629-5311 16. Serna, Luisita Litigation $2,900,000 2155 Louisiana Blvd NE Settlement Albuquerque, NM 87110 Name: Parnall Law Firm Email: claudia@parnaladams.com Phone: (505) 268-6500 17. Medlock, Linda Litigation $2,500,000 7521 Westview Drive Settlement Houston, TX 77055 Name: David Marks, Esq. – Marks, Balette, Giessel, Young, and Moss PLLC Email: DavidM@marksfirm.com Phone: (855) 529-6296 18. Hugar, Jessica Litigation $2,400,000 356 Redondo Ave Settlement Long Beach, CA 90814 Name: Lanzone Morgan LLP Email: eservice@lanzonemorgan.com Phone: (213) 561-6487 19. PointClickCare Trade Payables $2,338,967 Technologies Inc. P.O. Box 674802 Detroit, MI 48267-4802 Name: James Yersh Email: james.yersh@pointclickcare.com Phone: (226) 220-5875 20. Twomagnets, Inc. Trade Payables $2,202,926 P.O. Box 103125 Pasadena, CA 91189-3125 Name: Carlos Constantinides Email: carlos.constantinides@clipboardhealth.com Phone: (213) 376-3224 21. Brown, Alma Litigation $2,000,000 7521 Westview Drive Settlement Houston, TX 77055 Name: David Marks, Esq. – Marks, Balette, Giessel, Young, and Moss PLLC Email: DavidM@marksfirm.com Phone: (855) 529-6296 22. IntegraScripts LLC Trade Payables $1,875,611 160 Airport Road Lakewood, NJ, 08701 Name: Meir Tauber Email: meir@integrascripts.com Phone: (848) 525-8044 23. State of West Virginia Provider $1,685,986 Bureau of Medical Services Assessments 350 Capitol Street, Room 251 Charleston, WV 25301 Name: Terry McGee Email: terry.l.mcgeeii@wv.gov Phone: (304) 352-5241 24. Rainbow Real Estate Partners Trade Payables $1,560,618 4705 Central Street Kansas City, MO 64112 Name: Lisa Kallmeyer Email: lkallmeyer@lane4group.com Phone: (913) 485-4824 25. G-Radar LLC Trade Payables $1,524,720 345 US Highway 9, Ste. 376 Manalapan, NJ 07726 Name: Nicole Jasser Email: nicole@zhealthcare.com Phone: (732) 970-0733 x104 26. Medina, Eloy Litigation $1,500,000 7521 Westview Drive Settlement Houston, TX 77055 Name: David Marks, Esq. – Marks, Balette, Giessel, Young, and Moss PLLC Email: DavidM@marksfirm.com Phone: (855) 529-6296 27. Ramirez-Tellez, Yvonne Litigation $1,500,000 7521 Westview Drive Settlement Houston, TX 77055 Name: David Marks, Esq. – Marks, Balette, Giessel, Young, and Moss PLLC Email: DavidM@marksfirm.com Phone: (855) 529-6296 28. Tinkham, Faustina Litigation $1,500,000 7521 Westview Drive Settlement Houston, TX 77055 Name: David Marks, Esq. – Marks, Balette, Giessel, Young, and Moss PLLC Email: DavidM@marksfirm.com Phone: (855) 529-6296 29. Blue Cross Blue Trade Payables $1,492,760 Shield of New Mexico P.O. Box 27630 Albuquerque, NM 87125-7630 Name: LaTonji Peace Email: LaTonji_Peace@bcbsnm.com Phone: (505) 816-8262 30. 1970 Group, Inc. Litigation Undetermined 400 Madison Ave. New York, NY 10017 Name: Stephen Roseman Email: sr@1970group.com Phone: (646) 715-7027 GENESIS HEALTHCARE: Receives Stalking Horse Offer From ReGen ------------------------------------------------------------ Jonathan Randles of Bloomberg News reports that Genesis Healthcare Inc., one of the nation's largest nursing home operators, has entered into a preliminary acquisition agreement with affiliates of ReGen Healthcare LLC, according to court documents submitted Thursday, July 10, 2025. ReGen, already an investor in Genesis, submitted a stalking horse bid to set the baseline offer for a potential Chapter 11 auction. The value of the bid was not immediately disclosed. Genesis last filed for bankruptcy in 2000 and narrowly avoided another Chapter 11 filing in 2021. It filed filed for bankruptcy on July 9, 2025. About Genesis Healthcare Inc. Genesis Healthcare Inc. is a Medical Group, based in Culver City, CA. The medical group, which has also operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare, provides physician services in Southern California. Genesis Healthcare Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case 25-80185) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Marcus Alan Helt, Esq. at Mcdermott Will & Emery LLP. GENESIS HEALTHCARE: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------------- Nurin Sofia of Bloomberg News reports that Genesis Healthcare Inc. and its subsidiaries have initiated a financial restructuring process, the company announced in a statement. As part of the effort, Genesis has secured a $30 million debtor-in-possession (DIP) financing commitment from its existing secured lenders, pending court approval. The DIP financing, along with existing cash and revenue from ongoing operations, will be used to meet the company's financial obligations during the restructuring, according to Bloomberg News. The filing includes provisions to preserve employee positions, pay, and benefits, and ensures that vendor agreements will remain in effect. According to court documents filed in the Northern District of Texas, Genesis lists estimated assets and liabilities each ranging between $1 billion and $10 billion, the report states. About Genesis Healthcare Inc. Genesis Healthcare Inc. is a Medical Group, based in Culver City, CA. The medical group, which has also operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare, provides physician services in Southern California. Genesis Healthcare Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case 25-80185) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Marcus Alan Helt, Esq. at Mcdermott Will & Emery LLP. GIANT WASH: Hires Dickinson Bradshaw Fowler & Hagen as Counsel -------------------------------------------------------------- Giant Wash, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Iowa to employ the law firm of Dickinson, Bradshaw, Fowler & Hagen, PC as general reorganization counsel. The firm will provide these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the United States Trustee; (b) advise the Debtor regarding matters of bankruptcy law; (c) represent the Debtor in any proceedings or hearings in the bankruptcy court and in any action in any other court where its rights under the bankruptcy code may be litigated or affected; (d) conduct examinations of witnesses, claimants, or adverse parties and prepare and assist in the preparation of reports, accounts, and pleadings related to this Chapter 11 case; (e) advise the Debtor concerning the requirements of the Bankruptcy Code and applicable rules as the same affect it in this proceeding; (f) assist the Debtor in the negotiation, formulation, confirmation, and implementation of a Chapter 11 Plan; (g) make any court appearances on behalf of the Debtor; and (h) take such other action and perform such other services as the Debtor may require of the firm in connection with the Chapter 11 case. The firm will be paid at these rates: Jeffrey Goetz, Attorney $500 Associates $130 - $400 Paralegals $90 - $135 In addition, the firm will seek reimbursement for expenses incurred. Mr. Goetz disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeffrey D. Goetz, Esq. Dickinson Bradshaw Fowler & Hagen PC 801 Grand Avenue, Suite 3700 Des Moines, IA 50309-8004 Telephone: (515) 246-5817 Facsimile: (515) 246-5808 Email: jgoetz@dickinsonbradshaw.com About Giant Wash LLC Giant Wash LLC is an Iowa-based laundromat operator with multiple locations across Dubuque and Cascade, Iowa provides self-service laundry facilities. Giant Wash LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-01133) on June 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lee M. Jackwig handles the case. The Debtor tapped Jeffrey Douglas Goetz, Esq., at Dickinson Bradshaw Fowler & Hagen PC as counsel and Franklin Capital Advisors LLC as financial advisor. GIANT WASH: Hires Franklin Capital Advisors as Financial Advisor ---------------------------------------------------------------- Giant Wash, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Iowa to employ Franklin Capital Advisors LLC as financial advisor. The firm will provide these services: (a) assist in the identification (and implementation) of cost reduction and operations improvement opportunities; (b) assist the Debtor in managing its Chapter 11 case; (c) coordinate with the "working group" professionals who are assisting the Debtor in the reorganization process or who are working for its various stakeholders seeking alignment with its overall restructuring goals; (d) liaise with the Debtor's key constituents/creditors with respect to financial and operational matters; (e) provide assistance in such areas as testimony before this court on matters that are within the scope of this engagement and within the firm's area of testimonial competency; (f) assist the Debtor and other engaged professionals in bankruptcy planning and preparation; (g) assist in the discussions with and provide information to potential investors, secured lenders, and the Office of the United States Trustee for the Northern District of Iowa; (h) assist in the overall financial reporting assisting with the administrative requirements of the Bankruptcy Code; (i) assist with the case administration and reporting requirements associated with a Chapter 11 filing; (j) assist the Debtor and its other advisors in developing restructuring plans or strategic alternatives for maximizing the enterprise value of its business; and (k) perform such other services in connection with the restructuring process as reasonably requested or directed by authorized Debtor personnel, consistent with the role played by the firm's professionals in this matter and not duplicative of services being performed by other professionals in these proceedings. The firm will be paid at these hourly rates: Managing Director $500 Director $400 Senior Associate $350 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total retainer of $22,500 from the Debtor. Scott Eisenberg, managing director at Franklin Capital Advisors, 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: Scott Eisenberg Franklin Capital Advisors LLC 280 Daines St., Suite 300 Birmningham, MI 48009 Email: info@franklincapital.us About Giant Wash LLC Giant Wash LLC is an Iowa-based laundromat operator with multiple locations across Dubuque and Cascade, Iowa provides self-service laundry facilities. Giant Wash LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-01133) on June 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lee M. Jackwig handles the case. The Debtor tapped Jeffrey Douglas Goetz, Esq., at Dickinson Bradshaw Fowler & Hagen PC as counsel and Franklin Capital Advisors LLC as financial advisor. GRAY MEDIA: S&P Rates New Senior Secured Second-Lien Notes 'CCC' ---------------------------------------------------------------- S&P Global Ratings assigned its 'CCC' issue-level rating and '6' recovery rating to Gray Media Inc.'s proposed $750 million senior secured second-lien notes due in 2032. The '6' recovery rating indicates its expectation for negligible (0%-10%; rounded estimate: 0%) recovery for lenders in the event of a payment default. Upon completion of the proposed notes issuance, the company's revolving credit facility (RCF) will be upsized by $50 million to $750 million along with a one-year maturity extension on the RCF to 2028. Gray plans to use the proceeds from the notes issuance along with borrowings on its RCF to fully repay its 7% senior unsecured notes due in 2027 ($528 million outstanding as of March 31, 2025) and a portion of its senior secured first-lien term loan F maturing in 2029 ($496 million outstanding as of March 31). The proposed transaction is leverage neutral and will extend the company's debt maturity profile but will increase annual interest expense. The 'B' issue-level rating and '2' recovery rating on Gray's senior secured first-lien debt is unchanged. The reduction in senior secured first-lien debt from the proposed transaction improves recovery prospects for first-lien debtholders to about 85% from about 75%. The 'CCC' issue-level rating and '6' recovery rating on Gray's existing senior unsecured debt also is unchanged. The 'B-' issuer credit rating and stable outlook on Gray are unchanged. The stable outlook reflects S&P's view that the company will maintain net leverage in the high-6x area in 2025 as well as positive free operating cash flow and EBITDA interest coverage above 1.5x over the next 12 months. ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors -- Pro forma for the transactions, Gray Media Inc. will be the borrower of a $750 million senior secured first-lien revolving credit facility maturing in 2028, $1.4 billion senior secured first-lien term loan D maturing in 2028, $200 million senior secured first-lien term loan F due in 2029, $1.25 billion senior secured first-lien notes due in 2029, and $750 million of senior secured second-lien notes due in 2032, along with various tranches of senior unsecured notes ($2 million outstanding, 5.875% notes due in 2026; $790 million, 4.75% notes due in 2030; and $1.2 billion, 5.375% notes due in 2031), and a $400 million accounts receivable securitization facility due in 2028. -- The senior secured debt is guaranteed by the company's material domestic subsidiaries and secured by substantially all of its assets and those of its guarantors. Simulated default assumptions -- S&P's simulated default scenario considers a default in 2027 due to advertising revenue declines stemming from economic weakness and increased competition from alternative media, declines in retransmission revenue from elevated subscriber declines, and pressure from affiliated networks to remit a significant portion of its retransmission fees. -- Other assumptions include an 85% draw on the revolving credit facility, 100% draw on the accounts receivable securitization facility, the spread on the revolving credit facility rising to 5% as covenant amendments are obtained, and all debt including six months of prepetition interest. -- S&P values Gray on a going-concern basis using a 6x multiple of its projected emergence EBITDA, in line with that of other similar size local TV broadcasters that S&P rates. Simplified waterfall -- EBITDA at emergence: $619 million -- EBITDA multiple: 6x -- Gross enterprise value: $3.7 billion -- Net enterprise value (after 5% administrative costs): $3.5 billion -- Estimated priority debt claims (accounts receivable securitization facility): $408 million -- Value available for senior secured first-lien debt: $3.1 billion -- Estimated senior secured first-lien debt claims: $3.6 billion --Recovery expectations: 70%-90% (rounded estimate: 85%) -- Value available for senior secured second-lien debt: $0 -- Estimated senior secured second-lien debt claims: $788 million --Recovery expectations: 0%-10% (rounded estimate: 0%) -- Value available for senior unsecured debt: $0 -- Estimated senior unsecured debt claims (inclusive of $1.2 billion of pari passu senior secured deficiency claims): $3.3 billion --Recovery expectations: 0%-10% (rounded estimate: 0%) GREEN TERRACE: Trustee Hires Development Specialists as Accountant ------------------------------------------------------------------ Daniel Stermer, the trustee appointed in the Chapter 11 case of Green Terrace Condominium Association, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Development Specialists, Inc. as accountant. The firm will render these services: (a) prepare financial disclosures; (b) analyze transactions and budgets; (c) assist with plan confirmation and asset recovery; and (d) facilitate communications and management of the bankruptcy process. The firm has agreed to be compensated in accordance with 11 U.S.C. Section 330. Joseph Luzinski, a senior managing director, 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: Joseph J. Luzinski Development Specialists, Inc. 500 East Broward Boulevard, Suite 1700 Fort Lauderdale, FL 33394 Telephone: (305) 374-2717 Email: jluzinski@DSIConsulting.com 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 tapped Michael J. Niles, Esq., at Berger Singerman, LLP as counsel and Development Specialists, Inc. as accountant. HARVEST SHERWOOD: Committee Hires McDermott Will as Counsel ----------------------------------------------------------- The official committee of unsecured creditors of Harvest Sherwood Food Distributors, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ McDermott Will & Emery LLP as counsel. The firm will provide these services: a. advise the Committee with respect to its rights, powers, and duties in the Chapter 11 Cases; b. participate in in-person and telephonic meetings of the Committee and subcommittees formed thereby, if any; c. assist and advise the Committee in its meetings and negotiations with the Debtors and other parties in interest regarding the Chapter 11 Cases; d. assist the Committee in analyzing claims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interests and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; e. assist the Committee in analyzing the Debtors' assets and liabilities, including in its review of the Debtors' Schedules of Assets and Liabilities, Statements of Financial Affairs, and other reports prepared by the Debtors, investigating the extent and validity of liens and participating in and reviewing any proposed transfer, sale, or disposition of the Debtors' assets, financing arrangements, and cash collateral stipulations or proceedings; f. assist the Committee in its investigation of the acts, conduct, assets, liabilities, management, and financial condition of the Debtors, the Debtors' historic and ongoing operations of their businesses, and the desirability of the continuation of any portion of those operations, and any other matters relevant to the Chapter 11 Cases; g. assist the Committee in its analysis of, and negotiations with the Debtors or any third party related to, financing, asset disposition transactions, and compromises of controversies, reviewing and determining the Debtors' rights and obligations under leases and executory contracts, and assisting, advising, and representing the Committee in any manner relevant to the assumption or rejection of executory contracts and unexpired leases; h. assist the Committee in its analysis of, and negotiations with, the Debtors or any third party related to, the formulation, confirmation, and implementation of a chapter 11 plan(s) and all documentation related thereto (including the disclosure statement); i. assist, advise, and represent the Committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the Committee; j. assist and advise the Committee with respect to communications with the general creditor body regarding significant matters in the Chapter 11 Cases; k. respond to inquiries from individual creditors as to the status of, and developments in, the Chapter 11 Cases; l. represent the Committee at hearings and other proceedings before the Court and other courts or tribunals, as appropriate; m. review and analyze complaints, motions, applications, orders, and other pleadings filed with the Court, and advise the Committee with respect to formulating positions with respect, and filing responses; n. assist the Committee in its review and analysis of, and negotiations with the Debtors and their non-Debtor affiliates related to intercompany claims and transactions; o. review and analyze third-party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the Committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requested by the Committee; p. advise the Committee with respect to applicable federal and state regulatory issues, as such issues may arise in the Chapter 11 Cases; q. assist the Committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in furtherance of the Committee's duties; r. take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates, including with respect to a chapter 11 plan and related disclosure statement; and s. perform such other legal services as may be necessary or as may be requested by the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code. The firm will be paid at these rates: Partners $1,500 to $2,620 per hour Counsel $1,040 to $2,430 per hour Associates $895 to $1,485 per hour Non-lawyer Professionals $135 to $1,160 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Marcus A. Helt, Esq., a partner at Emery LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Marcus A. Helt, Esq. Jack G. Haake, Esq. Michael Wombacher, Esq. McDermott Will & Emery LLP 2801 North Harwood Street, Suite 2600 Dallas, TX 75201 Tel: (214) 295-8000 Fax: (972) 232-3098 E-mail: mhelt@mwe.com jhaake@mwe.com mwombacher@mwe.com About Harvest Sherwood Food Distributors Harvest Sherwood Food Distributors, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-80109) on May 5, 2025, listing up to $10 billion in assets and up to $1 billion in liabilities. The Debtors tapped Sidley Austin LLP as counsel and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent. HARVEST SHERWOOD: Committee Hires Province as Financial Advisor --------------------------------------------------------------- Harvest Sherwood Food Distributors, Inc. and its affiliates, seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Province, LLC as financial advisor. The firm's services include: a. familiarizing and analyzing the Debtors' DIP budget, assets and liabilities, and overall financial condition; b. reviewing financial and operational information furnished by the Debtors; c. monitoring the sale process, interfacing with the Debtors' professionals, and advising the Committee regarding the process; d. scrutinizing the economic terms of various agreements, including, but not limited to, various professional retentions; e. analyzing the Debtors' proposed business plans and developing alternative scenarios, if necessary; f. assessing the Debtors' various pleadings and proposed treatment of unsecured creditor claims therefrom; g. preparing, or reviewing as applicable, avoidance action and claim analyses; h. assisting the Committee in reviewing the Debtors' financial reports, including, but not limited to, statements of financial affairs, schedules of assets and liabilities, DIP budgets, and monthly operating reports; i. advising the Committee on the current state of the Chapter 11 Cases; j. advising the Committee in negotiations with the Debtors and third parties as necessary; k. if necessary, participating as a witness in hearings before the Court with respect to matters upon which Province has provided advice; and l. other activities as are approved by the Committee, the Committee's counsel, and as agreed to by Province. The firm will be paid at these rates: Managing Directors and Partners $850 to $1,450 per hour Vice Presidents, Directors, $700 to $1,050 per hour and Senior Directors Analysts, Associates, $350 to $825 per hour and Senior Associates Paraprofessional / Admin $270 to $450 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Sanjuro Kietlinski, a partner at Province, 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: Sanjuro Kietlinski, Esq. Province, LLC 2360 Corporate Circle, Suite 340 Henderson, NV 89074 Tel: (702) 685-5555 Email: skietlinski@provincefirm.com About Harvest Sherwood Food Distributors Harvest Sherwood Food Distributors, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-80109) on May 5, 2025, listing up to $10 billion in assets and up to $1 billion in liabilities. The Debtors tapped Sidley Austin LLP as counsel and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent. HERSHEY CHAN: Seeks to Hire Northgate Real Estate Group as Advisor ------------------------------------------------------------------ Hershey Chan Realty, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Northgate Real Estate Group as special real estate advisor. The firm will assist the Debtor in the proposed marketing and sale, refinancing, or other disposition of its property. The firm will be paid a commission equal to 6 percent of the gross purchase price of the property. Greg Corbin, president at Northgate Real Estate Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Greg Corbin Northgate Real Estate Group 1633 Broadway 46th Floor New York, NY 10019 Telephone: (212) 419-8101 Email: Greg@northgatereg.com About Hershey Chan Realty Inc. Hershey Chan Realty Inc. is a debtor with a single real estate asset, as outlined in 11 U.S.C. Section 101(51B). Hershey Chan Realty Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41079) on March 4, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Law Offices of Rachel L. Kayle, PC serves as the Debtor's counsel. HIDDEN PATH: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Hidden Path RV Resort, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral and provide adequate protection. The Debtor was pushed into bankruptcy after Southstar Bank directed tenants to pay rent directly to the bank and then posted the property for foreclosure. The Debtor's assets include two bank accounts totaling around $49,000 and unspecified rent collections. Secured creditors with potential interests in the cash collateral include Southstar Bank, Amur Equipment Finance, Forward Financing, A&D Mortgage, and Park Place Finance. The Debtor's preliminary monthly budget outlines necessary operating expenses and payments to critical vendors. Without the ability to use cash collateral, it will be unable to meet obligations and will likely have to cease operations, causing significant harm to the business and its reorganization efforts. To protect the interests of secured creditors, the Debtor offers to provide adequate protection through post-petition replacement liens on newly acquired assets and to maintain insurance coverage. A final hearing is set for August 5. About Hidden Path RV Resort, LLC Hidden Path RV Resort, LLC operates a recreational vehicle park in Lockhart, Texas. The Company owns and manages multiple real estate assets, including its main RV resort property and several rental properties. It also holds a range of heavy equipment used for property maintenance and operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10997) on June 30, 2025. In the petition signed by Roy D. Stephens Jr., authorized agent, the Debtor disclosed $4,913,011 in assets and $3,551,643 in liabilities. Judge Shad Robinson oversees the case. Stephen W Sather, Esq. at BARRON & NEWBURGER, P.C. represents the Debtor as legal counsel. HIGHER GROUND: U.S. Trustee Appoints Creditors' Committee --------------------------------------------------------- The U.S. Trustee for Region 6 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Higher Ground Education Inc. and its affiliates. The committee members are: 1. Brian Bussey Vice President of Real Estate 214 E Hallandale Beach, LLC 1395 Brickell Avenue, Suite 760 Miami, FL 33131 brian@fortecnow.com 2. Allan S. Moller, Member The School of Practical Philosophy 2 East 79th Street New York, NY 10075 asm110@earthlink.net 3. Sophiea Kim Property Manager for Cathy Lim 4149 Freedom Ln. Frisco, TX 75033 sophiea.jk@gmail.com 4. Michael W. Pure Managing Partner Pure Tempe Partnership 232 Deerfield Rd. Deerfield, Illinois 60015 mwpure@gmail.com 5. Terry Nugent Commercial Property Manager RTS Orchards, LLC 4831 Calloway Dr. Suite 102 Bakersfield, CA 93312 terry@orovistafarms.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Higher Ground Education, Inc. Higher Ground Education Inc. and its subsidiaries operate Montessori schools and provide related training and consulting services worldwide. Founded in 2016, the Group grew to manage more than 150 schools by 2024, with locations across the U.S. and international expansion into Hong Kong and mainland China. It also offers virtual and home-based education, teacher training, and licensing of its content to independent partners. Higher Ground Education Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80121) on June 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michelle V. Larson handles the case. The Debtors are represented byHolland N. O'Neil, Esq. and Timothy C. Mohan, Esq. at Foley & Lardner LLP and Nora J. McGuffey, Esq., and Quynh-Nhu Truong, Esq., at Foley & Lardner LLP. Sierraconstellation Partners, LLC is the Debtors' Financial Advisor. Verita Global, LLC fka Kurtzman Carson Consultants, LLC is the Debtors' Notice, Claims, Solicitation & Balloting Agent. HO WAN KWOK: New Jersey Mansion Belongs to Debtor, Court Says ------------------------------------------------------------- Judge Julie A. Manning of the United States Bankruptcy Court for the District of Connecticut granted the motion for summary judgment filed by Luc A. Despins in the adversary proceeding captioned as LUC A. DESPINS, CHAPTER 11 TRUSTEE FOR THE ESTATE OF HO WAN KWOK, Plaintiff, v. TAURUS FUND LLC; SCOTT BARNETT, AS TRUSTEE FOR TAURUS FUND LLC; and TAURUS MANAGEMENT LLC, AS TRUSTEE FOR TAURUS FUND LLC, Defendants, Adv. P. No. 23-05017 (Bankr. D. Conn.). The Trustee seeks summary judgment against defendants Taurus Fund LLC, Scott Barnett, and Taurus Management LLC on all three turnover claims of his complaint sounding in beneficial ownership and alter ego. The gravamen of the complaint is that the Mahwah Mansion at 675 Ramapo Valley Road, Mahwah, New Jersey 07430 is property of the Individual Debtor's estate -- not Taurus Fund. Taurus Fund is a Nevada limited liability company. Taurus Management is a New Mexico limited liability company. Taurus Management and Scott Barnett are listed as managers or managing members of Taurus Fund. Taurus Fund is the title owner of the Mahwah Mansion. On July 11, 2023, the Trustee commenced this adversary proceeding by filing complaint. The complaint contains the following claims: (i) Pursuant to 11 U.S.C. sections 541, 542, and 544, the first claim seeks (a) declaratory judgement that the Individual Debtor is the beneficial owner of the Mahwah Mansion and, hence, it is property of his bankruptcy estate; and (b) on the basis of such declaratory judgment, an order requiring the Taurus Parties to turnover the Mahwah Mansion to the Individual Debtor's bankruptcy estate by delivering it to the Trustee. (ii) Pursuant to sections 541, 542, and 544 of the Bankruptcy Code, the second claim seeks (a) declaratory judgment that the Individual Debtor is the beneficial owner of Taurus Fund and, hence, Taurus Fund is property of the Individual Debtor's bankruptcy estate; and (b) on the basis of such declaratory judgment, an order requiring the Taurus Parties to turnover the membership interests in Taurus Fund to the Individual Debtor's bankruptcy estate by delivering such to the Trustee. (iii) Pursuant to sections 541, 542, and 544 of the Bankruptcy Code, the third claim seeks (a) declaratory judgment that Taurus Fund is the alter ego of the Individual Debtor and, hence, its property is property of the Individual Debtor's bankruptcy estate; and (b) on the basis of such declaratory judgment, an order requiring the Taurus Parties to turnover Taurus Fund's property to the Individual Debtor's bankruptcy estate by delivering such to the Trustee. Here's Jersey Digs's article on the Mansion: https://jerseydigs.com/the-crocker-mansion-mahwah/ Under Nevada law there are three elements of alter ego: (1) the corporation must be influenced and governed by the person asserted to be the alter ego; (2) there must be such unity of interest and ownership that one is inseparable from the other; and (3) the facts must be such that adherence to the corporate fiction of a separate entity would, under the circumstances, sanction fraud or promote injustice. The Court concludes from the undisputed facts that Taurus Fund is an alter ego of the Individual Debtor because all three elements are met. As to the first two elements, the Court finds Individual Debtor governs Taurus Fund and there is such a unity of interest between the Individual Debtor and Taurus Fund that they are inseparable. The Individual Debtor treated Taurus Fund's principal asset, the Mahwah Mansion, as his own. Corporate formalities were not observed. Taurus Fund was only capitalized when comingled funds from other entities associated with the Individual Debtor transited through it to pay invoices. Funds were diverted to pay invoices of ostensibly unrelated entities associated with the Individual Debtor without corporate authority. As to the third element, the Court finds that adherence to the corporate fiction of any separation between Taurus Fund and the Individual Debtor would sanction fraud or promote injustice. Taurus Fund's corporate form serves to hinder, delay, or defraud the Individual Debtor's creditors by shielding his assets from collection activity. Accordingly, the Court concludes the Trustee is additionally entitled to a judgment as a matter of law declaring Taurus Fund is the alter ego of the Individual Debtor and requiring delivery of Taurus Fund's assets to the Trustee for the benefit of the Individual Debtor's bankruptcy estate. Contrary to the Taurus Parties' contention that no facts support summary judgment, the Trustee has established a thorough record of undisputed facts. The Trustee has met his burden. Faced with the Trustee's factual material, the Taurus Parties barely contest any of the Trustee's asserted undisputed fact and have failed to put forward factual material demonstrating a genuine dispute of material fact. The Court finds summary judgment is entirely appropriate in this adversary proceeding. It is clear on the undisputed factual record that the Mahwah Mansion is the Individual Debtor's residence and property of his bankruptcy estate. A copy of the Court's Memorandum of Decision and Order dated July 7, 2025, is available at https://urlcurt.com/u?l=LoqNq9 from PacerMonitor.com. Counsel for Plaintiff Luc A. Despins, Chapter 11 Trustee for the Estate of Ho Wan Kwok, Movant: G. Alexander Bongartz, Esq. Douglass E. Barron, Esq. PAUL HASTINGS LLP 200 Park Avenue New York, NY 10166 E-mail: alexbongartz@paulhastings.com douglassbarron@paulhastings.com - and - Nicholas A. Bassett, Esq. PAUL HASTINGS LLP 2050 M Street NW Washington, D.C. 20036 E-mail: nicholasbassett@paulhastings.com plinsey@npmlaw.com - and - Douglas S. Skalka, Esq. Patrick R. Linsey, Esq. Dennis M. Carnelli, Esq. NEUBERT, PEPE & MONTIETH 195 Church Street, 13th Floor New Haven, CT 06510 E-mail: dskalka@npmlaw.com Counsel for Defendants Taurus Fund LLC, Scott Barnett, Trustee for Taurus Fund LLC, and Taurus Management LLC, Trustee for Taurus Fund LLC, Respondents: Michael T. Conway, Esq. LAZARE POTTER GIACOVAS & MOYLE LLP 747 Third Avenue, 16th Floor New York, NY 10017 E-mail: mconway@lpgmlaw.com About Ho Wan Kwok Ho Wan Kwok sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 22-50073) on Feb. 15, 2022. Judge Julie A. Manning oversees the case. Dylan Kletter, Esq., is the Debtor's legal counsel. Ho Wan Kwok aka Guo Wengui is an exiled Chinese businessman. According to Reuters, Guo was a former real estate magnate who fled China for the U.S. in 2014 ahead of corruption charges. Guo filed for bankruptcy after a New York court ordered him to pay lender Pacific Alliance Asia Opportunity Fund $254 million stemming from a contract dispute. PAX had initially loaned two of Guo's companies $100 million in 2008 for a construction project in Beijing and sued Guo when he failed to pay off the loan. An Official Committee of Unsecured Creditors has been appointed in the case and is represented by Pullman & Comley, LLC. Luc A. Despins was appointed Chapter 11 Trustee in the case. HOT CRETE: Creditors to Get Proceeds From Liquidation ----------------------------------------------------- Hot Crete LLC filed with the U.S. Bankruptcy Court for the Western District of Texas an Amended Disclosure Statement describing Chapter 11 Plan dated June 20, 2025. The Debtor is a Texas limited liability corporation that operated as a provider and installer for pool concrete or shotcrete. The Debtor operates in the greater Austin, Texas metropolitan area. The managing members for Hot Crete were Edgar and Fausto Castro. Additionally, Edgar served as the President of the company. The Debtor is no longer operating, hence Edgar has overseen the liquidation of the assets and the bankruptcy process. Confirmation of the Plan will result with the appointment of a liquidating trustee. On the Effective Date, following the entry of an order confirming Hot Crete’s Plan and approval of the Insurance Settlement by the Bankruptcy Court, Federated will pay $9,916,456.02, the remaining limits of the Policies, to the Liquidating Trustee. The money will be used to fund the Liquidating Trust created under the Plan to address all present and future Pool Claims. In addition, Federated will pay to the Liquidating Trustee the additional sum of $270,000 to be used to fund the administrative costs of the Liquidating Trust, including trustee and attorney fees, in connection with the claims resolution process for the Pool Claims. The $9,916,456.02 and $270,000 are referred to as the settlement payment. Class 3 consists of Convenience Claims. "Convenience Claim" means any General Unsecured Claim that is filed in an amount of $5,000 or less. On the first Business Day that is thirty days following the Effective Date, each Holder of a Convenience Claim shall receive, in full and final satisfaction of such Claim, payment in full in Cash. The amount of claim in this Class total $4,730.40. Class 3 is Unimpaired under the Plan. Class 5 consists of Non-Pool Unsecured Claims. "Non-Pool Unsecured Claim" means any General Unsecured Claim that is not a Pool Claim, or the portion of a claim that is not a direct cost to reimburse, replace, or fix the work product of Hot Crete. Treble Damages for a claim of a "Deceptive Trade Practices Act" and other related causes of action are not intended to be a "Pool Claim" and would thus be counted as a "Non-Pool Unsecured Claim". The Plan provides for the Non-Pool Unsecured Claims to receive a beneficial interest in the Liquidating Trust subject to the payment of the Pool Claims. As the Pool Claims are anticipated to exceed the amount of the settlement with the insurance company, there are no anticipated payments to the Non-Pool Unsecured Claims. Class 5 is Impaired under the Plan. Class 7 consists of Interests in the Debtor. On the Effective Date, all Interests in the Debtor shall be cancelled, released, discharged, and extinguished. Holders of Interests in the Debtor shall not receive any distribution on account of such Interests. In this instance, Hot Crete proposes to pay what it can to its creditors from the following primary categories of assets: First) the proceeds generated by liquidating its physical assets; Second) the proceeds from applicable insurance policies and, specifically, the Settlement with Federated Insurance to be provided in the Plan Supplement, and, Third) all other assets of the Debtor, such as, but not limited to, retained causes of action. A full-text copy of the Amended Disclosure Statement dated June 20, 2025 is available at https://urlcurt.com/u?l=9oWYwW from PacerMonitor.com at no charge. Hot Crete LLC is represented by: Todd Headden, Esq. Charlie Shelton, Esq. HAYWARD PLLC 7600 Burnet Road, Suite 530 Austin, TX 78757 Phone: (737) 881-7100 Email: theadden@haywardfirm.com cshelton@haywardfirm.co About Hot Crete LLC Hot Crete LLC is a Texas limited liability corporation that operated as a provider and installer for pool concrete or shotcrete. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-10303) on March 22, 2024, listing $1,000,001 to $10 million in both assets and liabilities. The petition was signed by Edgar Castro as president. Todd Brice Headden, Esq. at Hayward PLLC, is the Debtor's counsel. HOTEL COMMERCE: Seeks Chapter 11 Bankruptcy in Nebraska ------------------------------------------------------- On July 9, 2025, Hotel Commerce 7 LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Nebraska. 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 Hotel Commerce 7 LLC Hotel Commerce 7 LLC is a company operating in the hospitality industry. Hotel Commerce 7 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Neb. Case No. 25-40702) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Brian S. Kruse handles the case. ICORECONNECT INC: Hires Bhavsar Law Group as Immigration Counsel ---------------------------------------------------------------- iCoreConnect Inc. and iCore Midco Inc. seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Bhavsar Law Group, PA as special immigration counsel. The firm will provide guidance and advise regarding the Debtors' employee Voohitha Morampudi and the H-1B application process. Kashmira Bhavsar, Esq., the primary attorney in this representation, will be paid at her hourly rate of $350. Ms. Bhavsar 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: Kashmira Bhavsar, Esq. Bhavsar Law Group, PA 5728 Major Blvd. Suite #607 Orlando, FL 32819 Telephone: (407) 425-1202 About iCoreConnect Inc. iCoreConnect Inc. provides cloud-based software solutions for the healthcare sector across the United States. Its SaaS offerings support functions such as ePrescribing, insurance verification, claims management, analytics, and HIPAA-compliant communication and backup. The company is headquartered in Ocoee, Florida. iCoreConnect and iCore Midco Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 25-03390) on June 2, 2025. In its petition, iCoreConnect reported between $1 million and $10 million in both assets and liabilities. Judge Grace E. Robson handles the cases. The Debtors tapped Amy Denton Mayer, Esq., at Stichter, Riedel, Blain & Postler, PA as bankruptcy counsel and Bhavsar Law Group, PA as special immigration counsel. INNOVATIVE NURSING: Court Closes Subchapter V Bankruptcy Case ------------------------------------------------------------- Judge Lisa Ritchey Craig of the United States Bankruptcy Court for the Northern District of Georgia entered an order closing the bankruptcy case of Innovative Nursing Solutions and Hospice Care LLC. Leon S. Jones is discharged as Subchapter V Trustee. On Dec. 19, 2023, Debtor filed a voluntary petition for relief under Subchapter V of Chapter 11 the Bankruptcy Code. The Court confirmed Debtor's plan of reorganization on May 1, 2024, pursuant to Sec. 1191(b). The Plan requires Debtor to make payments to creditors for three years beginning on the 28th day of the first month after the Effective Date of the Plan. Article 5.2 of the Plan provided that the Subchapter V Trustee, Leon S. Jones, would be discharged from his obligations and duties upon substantial consummation of the Plan, and the Confirmation Order provided that the Subchapter V Trustee would be discharged upon the filing by Debtor of a notice of substantial consummation of the Plan. As required by Sec. 1183(c)(2) of the Bankruptcy Code, Debtor filed a notice of substantial consummation on Aug. 5, 2024. The Subchapter V Trustee has filed his final report. In the Notice, Debtor requests the entry of the final decree and closing of the case. The United States Trustee objects because the bankruptcy estate has not been fully administered. In the Objection, the United States Trustee notes that, under Sec. 350(a), "after an estate is fully administered and the court has discharged the trustee, the court shall close the case," and that Rule 3022 of the Federal Rules of Bankruptcy Procedure states that "after the estate is fully administered in a Chapter 11 case, the court must, on its own or on a party in interest's motion, enter a final decree closing the case." As the estate is not fully administered (i.e., plan payments remain outstanding and Debtor has not been discharged), the United States Trustee asserts that the plain language of the statute and the rule does not authorize the entry of a final decree. At the hearing held on May 14, 2025, Debtor requested, in the alternative, that the Court enter an order confirming that the Subchapter V Trustee's services have been terminated and close the case, subject to being reopened. The United States Trustee noted the lack of specific authority authorizing the closing of the case without the entry of a final decree and asserted that Debtor would suffer no harm by having the case remain open, while closing the case could burden creditors who seek relief from the Plan in the event of a default. Debtor's counsel argued that, for certain business reasons, Debtor has been negatively impacted by having the case open. Debtor's counsel also represented to the Court and the United States Trustee that, if a creditor sought to reopen the case due to an uncured default, Debtor would be willing to pay the filing fee. Ultimately, the Court agrees with Debtor that the alternative relief requested by Debtor is appropriate. A copy of the Court's Order dated July 7, 2025, is available at https://urlcurt.com/u?l=hxVJ2q from PacerMonitor.com. About Innovative Nursing Solutions and Hospice Care LLC Innovative Nursing Solutions and Hospice Care LLC in Conyers, GA, filed its voluntary petition for Chapter 11 protection (Bankr. N.D. Ga. Case No. 23-62548) on December 19, 2023, listing $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Phyllis Dove-Edwin, president/member-manager, signed the petition. Judge Lisa Ritchey Craig oversees the case. THE WRIGHT LAW ALLIANCE, P.C. serve as the Debtor's legal counsel. INTEGRAL EXPRESS: Seeks to Hire Gutnicki LLP as Bankruptcy Counsel ------------------------------------------------------------------ Integral Express, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Gutnicki LLP as co-bankruptcy counsel. The firm will provide these services: (a) negotiate with creditors; (b) prepare a plan; (c) exam and resolve claims filed against the estate; (d) prepare and prosecute adversary proceedings, if any; (e) prepare pleadings filed in the case; (f) interact with the U.S. Trustee and Chapter V Trustee; (g) attend court hearings; and (h) otherwise represent the Debtor in matters before the court. Miriam SteinGranek, Esq., the primary attorney in this representation, will be paid at an hourly rate of $450. Other attorney rates at the firm range from $345 to $850 per hour. In addition, the firm will seek reimbursement for expenses incurred. Ms. Granek 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: Miriam Stein Granek, Esq. Gutnicki LLP 4711 Golf Road, Suite 200 Skokie, IL 60076 Telephone: (847) 745-6592 Email: mgranek@gutnicki.com About Integral Express Inc. Integral Express Inc. is a freight carrier that provides interstate transportation services across the United States. The Company operates a fleet of trucks and trailers to haul general freight, including refrigerated goods and hazardous materials. Integral Express Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09090) on June 15, 2025. In its petition, the Debtor reports total assets of $626,000 and total liabilities of $2,092,677. Honorable Bankruptcy Judge Jacqueline P. Cox handles the case. The Debtor tapped the Law Offices of David Freydin PC and Gutnicki LLP as counsel. INTEGRAL EXPRESS: Seeks to Tap David Freydin as Bankruptcy Counsel ------------------------------------------------------------------ Integral Express, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ the Law Offices of David Freydin PC bankruptcy counsel. The firm will provide these services: (a) negotiate with creditors; (b) prepare a plan and financial statements; and (c) exam and resolve claims filed against the estate. The firm will be paid at these hourly rates: David Freydin, Attorney $450 Jan Michael Hulstedt, Attorney $425 Derek Lofland, Attorney $425 Jeremy Nevel, Attorney $425 The firm received a pre-petition retainer of $10,000 from the Debtor. Mr. Freydin disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David Freydin, Esq. Law Offices of David Freydin PC 8707 Skokie Blvd., #312 Skokie, IL 60077 Telephone: (312) 533-4077 Facsimile: (866) 897-7577 About Integral Express Inc. Integral Express Inc. is a freight carrier that provides interstate transportation services across the United States. The Company operates a fleet of trucks and trailers to haul general freight, including refrigerated goods and hazardous materials. Integral Express Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09090) on June 15, 2025. In its petition, the Debtor reports total assets of $626,000 and total liabilities of $2,092,677. Honorable Bankruptcy Judge Jacqueline P. Cox handles the case. The Debtor tapped the Law Offices of David Freydin PC and Gutnicki LLP as counsel. IOK TECHNOLOGY: Gets OK to Use Cash Collateral Until July 31 ------------------------------------------------------------ IOK Technology, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Indiana, New Albany Division, to use cash collateral. The court's interim order authorized the Debtor to use cash collateral, provided it does not exceed the expenditures listed in its budget by more than 10% and its net cash flow is equal to or greater than 90% of the net projected cash flow. Prior to filing, the Debtor was funded through daily business operations and financing from the U.S. Small Business Administration and two equipment lenders. As protection for the Debtor's use of its cash collateral, SBA will be granted replacement liens on the Debtor's post-petition property, including cash collateral, with the same priority and extent as its pre-bankruptcy liens. The Debtor's authority to use cash collateral will terminate upon occurrence of an event of default that the Debtor fails to resolve within five business days. The final hearing is scheduled for July 31. About IOK Technology LLC IOK Technology, LLC operates a machine shop. IOK Technology sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-90702) on June 19, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. Benny Garland, president of IOK Technology, signed the petition. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as legal counsel. IOK TECHNOLOGY: Seeks to Hire KC Cohen Lawyer PC as Counsel ----------------------------------------------------------- IOK Technology, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to employ KC Cohen, Lawyer, PC as its counsel. The firm will render these services: (a) advise the Debtor with respect to its duties, powers, and responsibilities in this case; (b) investigate and pursue any actions on behalf of the estate in order to recover assets for or best enable this estate to reorganize fairly; (c) represent the Debtor in these proceedings in an effort to maximize the value of the assets available herein, and to pursue confirmation of a successful Plan of Reorganization; and (d) perform such other legal services as may be required and in the interest of the estate herein. The firm will be paid at these rates: Christopher McElwee, Attorney $300 per hour Nicholas Wildeman, Attorney $200 per hour Michele Jennings, Paralegal $100 per hour The firm received a retainer of $5,000 from the Debtor. KC Cohen, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: KC Cohen, Esq. KC Cohen, Lawyer, PC 1915 Broad Ripple Ave. Indianapolis, IN 46220 Telephone: (317) 715-1845 Facsimile: (317) 636-8686 Email: kc@smallbusiness11.com About IOK Technology, LLC IOK Technology, LLC operates a machine shop. IOK Technology sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-90702) on June 19, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. Benny Garland, president of IOK Technology, signed the petition. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as legal counsel. JAL OUTLET: Hires Charles A. Cuprill P.S.C. as Counsel ------------------------------------------------------ JAL Outlet, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Charles A. Cuprill, P.S.C., Law Offices as counsel to handle its Chapter 11 bankruptcy case. The firm will be paid at these rates: Charles A. Cuprill-Hernandez, Esq. $400 per hour Paralegal $85 per hour The firm received a retainer in the amount of $20,000. As disclosed in court filings, Charles A. Cuprill, P.S.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Charles A. Cuprill, Esq. Charles A. Cuprill, P.S.C., Law Offices 356 Fortaleza Street 2nd Floor San Juan, PR 00901 Tel: (787) 977-0515 Email: ccuprill@cuprill.com About JAL Outlet, Inc. JAL Outlet, Inc. is a wholesale distributor of motor vehicles and automotive parts operating out of Hormigueros, Puerto Rico. The Company supplies products such as vehicle components, accessories, and related equipment to retailers and service providers. JAL Outlet, Inc. in Hormigueros, PR, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D.P.R. Case No. 25-02796) on June 23, 2025, listing $10 million to $50 million in assets and $1 million to $10 million in liabilities. Jose A. Lugo Alverio as president, signed the petition. Judge Maria De Los Angeles Gonzalez oversees the case. CHARLES A. CUPRILL, PSC LAW OFFICES serve as the Debtor's legal counsel. JILL'S OFFICE: Gets Final OK to Use Cash Collateral Until Sept. 30 ------------------------------------------------------------------ Jill's Office, LLC received final approval from the U.S. Bankruptcy Court for the District of Utah, Central Division, to use cash collateral. The final order signed by Judge Peggy Hunt approved the use of cash collateral for the period from July 1 to September 30 to pay the expenses set forth in the Debtor's budget. The Debtor may exceed individual budget line items by up to 15%, provided the total monthly expenditures do not negatively affect the overall projected profit margins in July, August and September. As protection, Stripe Servicing, Inc., the U.S. Small Business Administration and other creditors with a valid and perfected interest in the Debtor's cash collateral as of the petition date will be granted a replacement lien on the cash collateral. As further protection, the Debtor was authorized to make $9,000 per month to SBA for July to September. These payments will be credited against any allowed secured claim or, if unsecured, against SBA's share of distribution to be determined at the time of confirmation of its Chapter 11 plan. The creditors believed to have perfected interests in the cash collateral include the SBA, Samson MCA LLC, Northeast Bank, Elite Funding, Premium Merchant Funding 26, LLC, CFT Clear Finance Technology Corp., and Daytona Funding Solutions. The SBA is believed to hold a senior perfected lien on all assets, including cash, with a claim of approximately $630,000. Other creditors, including various merchant cash advance (MCA) lenders and banks, may hold junior liens, but the Debtor argues they lack enforceable secured claims due to insufficient collateral equity. Stripe Servicing, Inc. may also have a superior claim on receivables it processed by virtue of possession. Stripe's debt has since been paid off. The Debtor owns around $100,000 in equipment, $300,000 in regenerating accounts receivable, and $200,000 in intangible assets, including IP and a customer list. About Jill's Office LLC Jill's Office, LLC provides professional, US-based 24/7 virtual receptionist and scheduling services designed to support businesses across various industries. The Company offers a range of services, including inbound call answering, appointment scheduling, live chat support for websites, and automated lead follow-ups (Lead Zap). Jill's Office specializes in delivering tailored, seamless communication solutions that enhance customer engagement while eliminating the need for businesses to hire in-house staff. The Company serves industries such as home services, real estate, health and wellness, finance, legal, and small businesses. Its mission is to ensure that businesses never miss calls or opportunities, offering reliable customer service around the clock. Jill's Office filed Chapter 11 petition (Bankr. D. Utah Case No. 25-21625) on March 27, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Brant Thurgood, member manager, signed the petition. Judge Peggy Hunt oversees the case. The Debtor is represented by: T. Edward Cundick Workman Nydegger Tel: 801-533-9800 Email: tcundick@wnlaw.com JILL'S OFFICE: Seeks to Hire Holyoak & Co. as Accountant -------------------------------------------------------- Jill's Office, LLC seeks approval from the U.S. Bankruptcy Court for the District of Utah to employ Holyoak & Co. as accountant. The firm will prepare accurate financial statements for the year ended December 31, 2024, to assist with the filing of 2024 taxes, and assist with other accounting work in support of plan confirmation. The firm will be paid at the rate of $270 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Rand Holyoak, a partner at Holyoak & 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: Rand Holyoak Holyoak & Co. 1396 W 200 S St Lindon, UT 84042 Tel: (385) 236-1133 About Jill's Office, LLC Jill's Office, LLC provides professional, US-based 24/7 virtual receptionist and scheduling services designed to support businesses across various industries. The Company offers a range of services, including inbound call answering, appointment scheduling, live chat support for websites, and automated lead follow-ups (Lead Zap). Jill's Office specializes in delivering tailored, seamless communication solutions that enhance customer engagement while eliminating the need for businesses to hire in-house staff. The Company serves industries such as home services, real estate, health and wellness, finance, legal, and small businesses. Its mission is to ensure that businesses never miss calls or opportunities, offering reliable customer service around the clock. Jill's Office filed Chapter 11 petition (Bankr. D. Utah Case No. 25-21625) on March 27, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Brant Thurgood, member manager, signed the petition. Judge Peggy Hunt oversees the case. T. Edward Cundick, Esq., at Workman Nydegger, represents the Debtor as counsel. JTI-MACDONALD CORP: Chapter 15 Case Summary ------------------------------------------- Chapter 15 Debtor: JTI-Macdonald Corp. 1 Robert Speck Parkway Suite 1601 Mississauga, Ontario Canada L4Z 0A2 Business Description: JTI-Macdonald Corp. (JTI-Canada) manufactures and distributes tobacco and nicotine products across Canada. The Company produces global and local cigarette brands such as Winston, Camel, LD, and Export A, and operates manufacturing facilities in Montreal and administrative offices nationwide. It is headquartered in Mississauga, Ontario. Its portfolio also includes reduced-risk products, such as heated tobacco and vaping devices, designed to lower exposure to harmful chemicals compared to traditional cigarettes. Chapter 15 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-11530 Judge: Hon. John P Mastando III Foreign Representative: William E. Aziz 32 Shorewood Place Oakville Ontario Canada L6K3Y4 Foreign Proceeding: In the Matter of a Plan of Compromise or Arrangement of JTI-Macdonald Corp. (Ontario Superior Court of Justice (Commercial List) at Toronto) Foreign Representative's Counsel: Madlyn Gleich Primoff, Esq. FRESHFIELDS US LLP 3 World Trade Center 175 Greenwich St, 51st FLoor New York NY 10012 Tel: (212) 227-4000 E-mail: madlyn.primoff@freshfields.com Estimated Assets: Unknown Estimated Debt: Unknown A full-text copy of the Chapter 15 petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/DM3J3RA/JTI-Macdonald_Corp_and_William__nysbke-25-11530__0001.0.pdf?mcid=tGE4TAMA JUBILEE HILLTOP: Hires Spence Custer Saylor as Counsel ------------------------------------------------------ Jubilee Hilltop Ranch, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Spence, Custer, Saylor, Wolfe & Rose, LLC as its legal counsel. The firm will render these legal services: (a) represent the Debtor's interest in its Chapter 11 case; (b) complete the filing of the Debtor's bankruptcy schedules; (c) advise the Debtor regarding its rights, options, and obligations under the Chapter 11 proceedings; (d) aid in formulating and proposing a reorganization plan and disclosure statement; and (e) perform such other services as may arise during the pendency of the case. The firm will be paid at these rates: Attorney $300 per hour Paraprofessionals $150 per hour In addition, the firm will seek reimbursement for expenses. As disclosed in court filings, Spence, Custer, Saylor, Wolfe & Rose is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Kevin J. Petak, Esq. Spence, Custer, Saylor, Wolfe & Rose, LLC 1067 Menoher Boulevard Johnstown, PA 15905 Tel: (814) 536-0735 Fax: (814) 539-1423 Email: kpetak@spencecuster.com About Jubilee Hilltop Ranch, LLC Jubilee Hilltop Ranch LLC is a family-run farm based in Osterburg, Pennsylvania, producing grass-finished beef, pastured pork, and eggs. The farm operates using all-natural, organically managed practices and supplies meat products to households, restaurants, and grocery stores. It emphasizes sustainable agriculture and community collaboration without formal organic certification. Jubilee Hilltop Ranch LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-70267) on June 26, 2025. In its petition, the Debtor reports estimated asses between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Jeffery A. Deller handles the case. The Debtors are represented by Kevin Petak, Esq. at SPENCE CUSTER. KALEIDOSCOPE SCHOOL: Wins Interim Cash Collateral Access -------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Washington granted Kaleidoscope School interim authorization to use cash collateral. The Debtor needs to use cash collateral to cover ordinary and necessary operating expenses, including payroll, rent, and utilities. The interim order authorized the Debtor to use cash collateral for post-petition operating expenses (including payroll and taxes) in accordance with the submitted budget. Debtor may exceed budgeted amounts by up to 15%. As adequate protection, the U.S. Small Business Administration was granted replacement liens on post-petition cash, receivables, and proceeds, with the same priority as its pre-petition liens. The final hearing is scheduled for July 25. Objections due by July 18. About Kaleidoscope School Kaleidoscope School sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-11658-TWD) on June 16, 2025. In the petition signed by Mary-Pat Soukup, director, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Timothy W. Dore oversees the case. Clyde Shavers, Esq., at Lyda Law Firm, represents the Debtor as legal counsel. KNOWBE4 INC: S&P Assigns 'B-' ICR on Debt Refinancing ----------------------------------------------------- S&P Global Ratings assigned its 'B-' issuer credit rating to human risk management software provider KnowBe4 Inc. At the same time, S&P assigned its 'B-' issue-level rating and '3' recovery rating to the $200 million revolving credit facility and $1.2 billion first-lien term loan and its 'CCC+' issue-level rating and '5' recovery rating to the $260 million second-lien term loan. S&P said, "The positive outlook reflects our expectation that, while KnowBe4's leverage will be elevated as of the close of the transaction due to its increased debt profile and lower EBITDA generation, we anticipate it will likely improve its credit metrics in 2026. If the company is able to maintain leverage of below 7x and generate free operating cash flow (FOCF) to debt of more than 5% despite its debt-funded acquisitions and shareholder returns, we would consider raising our ratings. "While KnowBe4's leverage will be high following the close of the transaction, we expect its good growth rates and stable EBITDA margins will support deleveraging over the next few years. The company is a human risk management software provider focused on protecting companies from human cybersecurity risks through the use of its security awareness training software and other products. KnowBe4 was taken private by financial sponsor Vista Equity Partners in February 2023. After the take-private transaction, the company completed its midsize acquisition of Egress in July 2024, which expanded its overall debt profile. That transaction, along with certain one-time costs, has hampered its EBITDA generation, which will cause its leverage to be in the high-9x area as of the close of the transaction. However, we believe that KnowBe4 will be able to deleverage over the next few years. We expect that the company will continue to organically expand its revenue by between 14% and 17% in 2025, which will boost its EBITDA generation. We also expect its one-time costs will continue to roll off such that it improves its EBITDA margins to the high-20% area in 2025. KnowBe4's good growth rates and improved EBITDA margins will help it reduce its leverage to the low-8x area in 2025. "We expect KnowBe4 will benefit from solid organic growth rates in 2026 due to various strategic operational initiatives across the business. As part of this strategy, we anticipate greater growth opportunities in 2026. Due to these improved opportunities, we forecast KnowBe4 will likely increase its revenue by 17%-20% in 2026. This, along with the improvement in its EBITDA margins to almost the 30% area, will support an improvement in its leverage to the mid-6x area in 2026. "However, we note that KnowBe4 completed a debt-funded acquisition that increased its debt profile by over 35% in 2024. We also believe that the financial-sponsor-owned company could look to complete more acquisitions tied to AI solutions to expand its product offerings, which may lead it to target companies with high valuations and low EBITDA generation. We would need to gain more confidence that KnowBe4's acquisition strategy is sustainable under the constraints of a 'B' rating before considering an upgrade. "Due to its lower interest expense and the improvement in its EBITDA generation, we expect KnowBe4 will generate positive FOCF in 2026. KnowBe4's EBITDA margins have remained pressured over the past few years by acquisition, integration, and severance costs. The company also faces capitalized costs tied to its software development and training content for external sales, which we treat as operating expense. However, we expect the costs tied to KnowBe4's integration and restructuring will be non-recurring and roll off, leading to an improvement in its EBITDA margins over the next few years. Due to the expected improvement in its profitability, we anticipate the company will generate EBITDA margins in the high-20% area in 2026. "KnowBe4 also faces high interest expense because its sponsor financed the take-private transaction through the private debt markets. We expect that the company will be able to secure more-favorable pricing on its refinanced debt, providing it with interest expense savings for the full year. We also believe that the improvement in its EBITDA generation, supported by its good organic growth, higher profitability, and lower full-year interest expense, will help increase its FOCF generation to more than $110 million in 2026. "Although KnowBe4 operates at a smaller scale and with narrow product diversity in this extremely fragmented market, we believe that it is one of the leaders in the human risk management space. The human risk management space is extremely fragmented and intensively competitive, given the large number of players in the space, such as Proofpoint, Mimecast, Cofense, Sans, Infosec, and others. KnowBe4 operates at a smaller scale than these other software companies. We also believe that while KnowBe4 solutions are important, we do not believe they are as mission critical as enterprise resource planning (ERP) solutions, thus they could still be cut or delayed in a macroeconomic downturn. We also note that, while it has been looking to expand its product offerings through acquisitions, the company still has a narrow product focus compared with other software companies. However, despite these business risks, we still believe that KnowBe4 is one of the leaders in the human risk management space." KnowBe4 has consistently expanded its organic revenue by more than 20% annually over the past few years. The company's revenue is also highly recurring (high-90% area), which S&P thinks will enable it to sustain its business operations through potential macroeconomic downturns or company-specific issues. In addition, due to its large and high-quality content platform, easy setup, AI-native solutions, it has been able to accumulate the data sets of more than 100 million users, which it leverages to continue to evolve and protect against human cybersecurity risk. KnowBe4 also has strong net retention rates, which shows that customers continue to rely on its human risk management solutions. KnowBe4 will likely continue to benefit from good demand for its human risk management solutions over the next few years. The company helps its customers protect themselves against cybersecurity threats by addressing the most vulnerable point in their cybersecurity structure, their employees. As cybersecurity threats become increasingly complex and prolific, the company helps reduce the threat of humans to its customers' cybersecurity through its security awareness training software, which provides information around phishing email attacks, as well as content training, security coaching, and more. This has supported stable demand for the company's solutions, leading to organic revenue growth of more than 20% over the past two years. KnowBe4 partners with companies such as Microsoft and all of the large cybersecurity software providers, which shows these firms prefer to work with it rather than compete against it. Given those security risk tailwinds, along with the company's various strategic operational initiatives and good ROI, S&P believes it will continue to benefit from stable demand across all its customers segments, leading to an expansion of in its topline revenue of between 15% and 18% in 2025 and 17% and 20% in 2026. S&P said, "The positive outlook reflects our expectation that, while KnowBe4's leverage will be elevated as of the close of the transaction due to its increased debt profile and lower EBITDA generation, we anticipate it will likely improve its credit metrics in 2026. If the company is able to maintain leverage of below 7x and generate FOCF to debt of more than 5% despite its debt-funded acquisitions and shareholder returns, we would consider raising our ratings. "We could revise our outlook on KnowBe4 to stable if it sustains leverage above the 7x area or FOCF to debt of below 5% due to debt-funded acquisitions or shareholder returns, weaker customer demand amid tougher macroeconomic environment or competitive pressures, or continued elevated operating costs due to business disruptions. "We could consider upgrading KnowBe4 if it sustains leverage below the 7x area and FOCF to debt of more than 5% despite its debt-funded acquisitions and shareholder returns. This could occur if the company maintains a financial policy similar to those of higher-rated entities, its growth rates remain stable through a tougher macroeconomic environment, and it continue to improve its EBITDA margins." KUBERA HOTEL: Seeks Court Approval to Tap Ryan C. Wood as Counsel ----------------------------------------------------------------- Kubera Hotel Properties, LP seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ the Law Offices of Ryan C. Wood, Inc. to handle its Chapter 11 case. Ryan Wood, Esq., the primary attorney in this representation, will be paid at his hourly rate of $475 plus reimbursement for expenses incurred. The firm received a retainer of $10,000 and a filing fee of $1,738 from the Debtor. Mr. Wood disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan C. Wood, Esq. Law Offices of Ryan C. Wood, Inc. 611 Veterans Blvd., Ste. 218 Redwood City, CA 94063 Telephone: (650) 366-4858 Facsimile: (650) 366-4875 About Kubera Hotel Properties LP Kubera Hotel Properties LP operates a 113-room hotel located at 920 University Avenue, Berkeley, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-40996) on June 6, 2025. In the petition signed by Pradeep Kantilai T. Khatri, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Charles Novack oversees the case. The Law Offices of Ryan C. Wood, Inc. represents the Debtor as counsel. LAID RIGHT: Gets Third Interim OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division approved a third interim order authorizing Laid Right Site Development, Inc. to use cash collateral. The Debtor may use the lender's cash collateral through July 28, subject to a 10% variance on budgeted disbursements. Use is restricted to ordinary and necessary expenses outlined in the budget. The Debtor projects total operational expenses $204,650 for July. As adequate protection, lenders were granted a replacement lien on the Debtor's post-petition property to the same extent and with the same validity and priority as their pre-bankruptcy lien. In addition, Bank of America, N.A., as senior secured lender, will receive an adequate protection payment (the lesser of 20% of the net profit of the Debtor during the interim period or the contract payments of $11,253.63, if net profit exceeds $50,000). The next hearing is scheduled for July 28. Bank of America, N.A. and two other lenders are the holders of Promissory Notes executed by the Debtor that are secured by liens on assets, including the Debtor's accounts and accounts receivable. As of the petition date, the outstanding balance owed to Bank of America on all notes was approximately $900,000. About Laid Right Site Development Laid Right Site Development, Inc. is a site development contractor specializing in grading and utility services. It operates in North Carolina, with locations in Jefferson and Sanford. Its services support infrastructure and construction projects across the region. Laid Right Site Development sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01607) on April 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and up to $50,000 in liabilities. J.M. Cook, Esq., at J.M. Cook, P.A. is the Debtor's legal counsel. Bank of America, as senior secured lender, is represented by: Brian D. Darer, Esq. Parker Poe Adams & Bernstein LLP 301 Fayetteville Street, Suite 1400 Raleigh, North Carolina 27602 Telephone: (919) 828-0564 briandarer@parkerpoe.com LASEN INC: Gets Interim OK to Use Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona issued an interim order permitting Lasen, Inc. to use cash collateral necessary to avoid irreparable harm. The Debtor was authorized to use cash collateral to pay ordinary and necessary operating expenses for an initial period through July 31, 2025, pursuant to the budget. The final hearing is scheduled for July 31. All customers of the Debtor shall pay any amounts owed to the Debtor in the ordinary course irrespective of any directives by third parties including MCA Creditors. The Debtor, founded in 1989 and providing methane leak detection services since 2005, is a technology leader in airborne LiDAR methane detection using its proprietary ALPIS system. The company has inspected over 800,000 miles of pipeline. In April 2023, Lasen was acquired by SkySkopes Holdings, Inc., which also owns SkySkopes, Inc. SkySkopes, initially a drone service provider founded in 2014, expanded into manned aviation and GIS services, growing its revenue to $23 million in 2024. Though operating independently, Lasen and SkySkopes collaborate closely and share resources. In recent years, both companies have been operating at a loss as they pursued growth. These losses were funded by SkySkopes Holdings and merchant cash advances (MCAs) while they sought new equity partners. Several funding attempts in early 2025 failed. Notably, Mahogany Investments and Steel Private Bank failed to deliver a promised $25 million investment and $10 million credit line despite Lasen paying $300,000 in fees. Additional efforts with consultants and a $20 million acquisition offer from a Raymond James client also collapsed. Compounding these issues, on March 13, 2025, Lasen and SkySkopes entered into an MCA agreement with Ace Funding. On April 1, 2025, Ace unilaterally declared default and, through Triton Recovery Group, sent notices to Lasen’s clients demanding payment redirection, freezing over two months’ worth of receivables and causing severe liquidity issues and staff departures. To address concerns of MCA creditors who may claim liens on revenues, the Debtor offers granting them replacement liens with the same validity and priority as their prepetition liens. About Lasen Inc. Lasen Inc. develops and operates airborne LiDAR systems for leak detection and pipeline inspections across North America. The Company's proprietary Airborne LiDAR Pipeline Inspection System (ALPIS) identifies methane leaks with high accuracy and efficiency, supporting right-of-way and transmission line monitoring. founded in 1989, LaSen has inspected over 500,000 miles of pipeline and specializes in remote sensing technologies adapted from U.S. defense applications. Lasen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-05316) on June 11, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Brenda K. Martin handles the case. The Debtors are represented by Randy Nussbaum, Esq. at CAVANAGH LAW FIRM. LAWTON LLC: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Lawton LLC 1111 Lawton Ave Lynn MA 01940 Business Description: Lawton LLC provides rooming and boarding house accommodations in Lynn, Massachusetts. The Company operates within the lodging industry, offering residential services such as temporary or long-term housing. Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court District of Massachusetts Case No.: 25-11412 Debtor's Counsel: Michael Walsh, Esq. WALSH & WALSH PO Box 9 Lynnfield MA 01940 Tel: 617-257-5496 E-mail: walsh.lynnfield@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $100,000 to $500,000 The petition was signed by William Fletcher as manager. The Debtor failed to provide a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RTS6OKI/Lawton_LLC__mabke-25-11412__0001.0.pdf?mcid=tGE4TAMA LEISURE INVESTMENTS: Says Former Execs Defy Court Orders -------------------------------------------------------- Alex Wolf of Bloomberg Law reports that bankrupt marine park operator Dolphin Co. is urging a U.S. bankruptcy court to hold its former top executives in Mexico accountable for allegedly defying orders to hand over corporate records. In a court filing Wednesday, July 9, 2025, the company's bankruptcy attorneys said former CEO Eduardo Albor and ex-chief legal officer Concepcion Esteban Manchado have disregarded recent directives from the U.S. Bankruptcy Court for the District of Delaware and should face sanctions. Albor, already facing court-imposed fines of $10,000 per day, now claims he neither possesses nor has access to the company's books and records—despite earlier indications to the contrary. About Leisure Investments Holdings LLC Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq., Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels. The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES, LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. LEXINGTON BLUE: Seeks to Hire Dennery PLLC as Bankruptcy Counsel ---------------------------------------------------------------- Lexington Blue, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Kentucky to employ Dennery, PLLC as legal counsel. The firm will provide these services: (a) advise the Debtor about their rights, powers and duties; (b) advise and assist the Debtor with the preparation of the petition, schedules, and statements of financial affairs; (c) analyze the claims of the creditors, and negotiate with such creditors; (d) investigate the acts, conduct, assets, rights, liabilities and financial condition of the Debtor and its business; (e) advise and negotiate the sale of any or all assets of the Debtor; (f) investigate, file, and prosecute any claims on behalf of the estate; (g) draft and propose a plan of reorganization; (h) appear for the Debtor at any hearings, conferences, and other proceedings; (i) prepare and/or review motions, applications, proposed orders, and other documents filed with the court; (j) initiate any appropriate proceedings to avoid prepetition transfers and/or recover assets for the benefit of the estate; and (k) deliver any and all other legal services as may be required that are in the best interest of the estate or the creditors. The firm will be paid at these hourly rates: (a) $300 for each hour devoted to performing legal services; (b) $225 for each hour devoted to delivering financial reports, bookkeeping services, or business planning services required to develop cash collateral budgets, projections to support a plan of reorganization, applications for post-petition financing, or any proposed merger, acquisitions, assignment or sales transactions; and (c) $100 for each hour of paralegal, administrative and legal support services. In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $22,500 from the Debtor. J. Christian Dennery, Esq., an attorney at Dennery, 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: J. Christian Dennery, Esq Dennery, PLLC P.O. Box 121241 Covington, KY 41012 Telephone: (888) 833-2826 Facsimile: (859) 286-6726 About Lexington Blue Inc. Lexington Blue, Inc. provides roofing and exterior renovation services for residential and commercial properties. Lexington Blue Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ky. Case No. 25-50863) on June 16, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by J. Christian Dennery, Esq., at Dennery, PLLC. LINDA FLORA: Seeks Chapter 11 Bankruptcy in California ------------------------------------------------------ On July 8, 2025, Linda Flora D 1341 filed Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. 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 Linda Flora D 1341 Linda Flora D 1341 is a Los Angeles, CA-based real estate company with principal assets located at 1341 Linda Flora Drive in Los Angeles. Linda Flora D 1341 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-15742) on July 8, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Deborah J. Saltzman handles the case. The Debtors are represented by Lewis Phon, Esq. at Law Office of Lewis Phon. LINDA FLORA: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Linda Flora D 1341, LLC 2337 Roscomare Road #10 Los Angeles CA 90077 Business Description: Linda Flora D 1341, LLC operates as a lessor of real property assets. Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-15742 Judge: Hon. Deborah J. Saltzman Debtor's Counsel: Lewis Phon, Esq. LAW OFFICE OF LEWIS PHON 4040 Heaton Court Antioch CA 94509 Tel: 925-470-8551 E-mail: lewisphon22@gmail.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million Adrian Rudomin signed the petition as managing member. A list of the Debtor's 20 largest unsecured creditors was not provided alongside the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/IVXXRPI/Linda_Flora_D_1341_LLC__cacbke-25-15742__0001.0.pdf?mcid=tGE4TAMA LINQTO TEXAS: Gets Interim OK to Obtain DIP Loan From Sandton ------------------------------------------------------------- Linqto Texas, LLC and affiliates received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to obtain debtor-in-possession financing facility from Sandton Capital Solutions Master Fund VI, LP. This DIP Facility in the aggregate principal amount of up to $60 million is structured as a senior secured, superpriority, multi-draw term loan, with $10 million available on an interim basis. The DIP financing is needed urgently to fund payroll, benefits, insurance, vendor payments, and administrative expenses as set forth in an Initial Budget, which covers at least the first three weeks of the Chapter 11 process. Without immediate funding, the Debtors face the risk of operational shutdown, asset devaluation, and loss of stakeholder support. The DIP Facility includes several economic terms: 1. Interest: The Debtors must pay 14.5% per annum in PIK (payment-in-kind) interest, capitalized monthly. If in default, the rate increases to 17.5%. 2. Issuance Fee: A 2.5% fee on each draw, capitalized and added to the loan balance. 3. Exit Fee: Ranges from 2.5% to 3.0% based on how much of the facility is drawn. 4. Unused Fee: 2.0% per annum on undrawn amounts, also capitalized. 5. Renewal Fee: If the loan is not repaid by its maturity, a 2.5% renewal fee applies, extending the term by three months (up to two extensions). 6. Minimum Return: The DIP Lender must receive a minimum 1.15x multiple of invested capital on each advance. The Debtors were authorized to pay in full each Issuance Fee, Exit Fee, Renewal Fee and Unused Fee when due and payable in accordance with the terms of the DIP Facility. The DIP Facility must be repaid in full on the earliest of: (a) the Scheduled Maturity Date, which is listed as 12 months from the Closing Date of the DIP Facility; (b) the "effective date" of a confirmed Plan; (c) the date on which the Debtors consummate a sale of all or substantially all of the assets pursuant to 11 US.C. Section 363 or otherwise; or (d) the date of acceleration of the obligations upon the occurrence of an event of default in accordance with the DIP Credit Agreement and DIP Orders The Debtors are required to comply with these milestones: (a) The Bankruptcy Court must have entered the Final DIP Order by the date that is no later than 45 days after entry of the interim DIP order; (b) The Debtors must have filed a motion with the Bankruptcy Court seeking entry of an Approved Plan by no later than October 3, 2025; (c) The Bankruptcy Court must have entered an order confirming an Approved Plan by no later than January 16, 2026; and (d) An Approved Plan must have become effective in accordance with its terms by no later than April 15, 2026. The financing is secured by superpriority liens and administrative expense claims on substantially all of the Debtors' assets, subject to a "Carve Out" for certain administrative and professional costs. Importantly, the DIP Lender is not a prepetition creditor, meaning the financing does not affect or modify any pre-bankruptcy obligations. The DIP Liens, DIP Superpriority Claim the Prepetition Liens, the Prepetition Replacement Liens, and the Prepetition Superiority Claims are subordinate only to the following: (i) all fees required to be paid to the Clerk of the Court and to the U.S. Trustee under 28 U.S.C. section 1930(a) plus interest at the statutory rate; (ii) all reasonable and documented fees and expenses incurred by a trustee under 11 US.C. section 726(b). (iii) Subject to the terms and entry of the Approved Budget and upon entry of the Final DIP Order, reasonable fees and costs incurred by the Borrowers' professionals in the Cases as approved by the Bankruptcy Court. The Debtors, which operated the Linqto Platform -- a service providing indirect investment access to private tech companies -- halted operations on March 13, 2025, after new management uncovered widespread regulatory violations and active investigations by the U.S. Securities and Exchange Commission (SEC) and FINRA. These investigations, along with internal reviews, revealed pervasive non-compliance with securities laws and flaws in Linqto's corporate structure. This led to the immediate suspension of the Platform, which was the Debtors' main revenue-generating operation. As of the Petition Date (July 7, 2025), Debtor Linqto Liquidshares LLC held securities in 111 companies with a combined estimated fair market value exceeding $500 million, but only had $123,000 in cash on hand, insufficient to meet basic operational needs. The final hearing is scheduled for August 5. The deadline for filing objections is on July 29. A copy of the interim DIP order is available at: http://bankrupt.com/misc/Linqto_Texas_LLC__InterimDIP About Linqto Inc. Linqto Inc. is a San Jose-based financial technology company operating in the alternative investment space. Linqto Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90187) on July 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500 million and $1 billion. Judge Alfredo R. Perez oversees the case. The Debtor is represented by Gabrielle A. Hamm, Esq. at Schwartz, PLLC. Breakpoint Partners LLC is the Debtor's restructuring advisor. Epiq Corporate Restructuring, LLC is the Debtor's claims agent. ThroughCo Communications, LLC is the Debtor's public relations agent. Sandton Capital Solutions Master Fund VI, LP, as DIP Lender, may be reached through: Robert Rice Sandton Capital Partners 16 West 46th Street, 11th Floor New York, NY 10036 Direct: 310.600.3980 Office: 212.444.7200 Sandton is represented by its attorneys: Kristen L. Perry, Esq. Faegre Drinker Biddle & Reath, LLP 2323 Ross Avenue, Suite 1700 Dallas, TX 75201 Tel: (469) 357-2500 Fax: (469) 327-0860 Email: kristen.perry@faegredrinker.com -- and -- Richard J. Bernard, Esq. Faegre Drinker Biddle & Reath, LLP 1177 Avenue of the Americas, 41st Floor New York, NY 10036 Tel: (212) 248-3263 Fax: (212) 248-3141 Email: richard.bernard@faegredrinker.com -- and -- Michael R. Stewart, Esq. Adam C. Ballinger, Esq. Faegre Drinker Biddle & Reath, LLP 2200 Wells Fargo Center 90 South 7th Street Minneapolis, MN 55402 Telephone: (612) 766-7000 Facsimile: (612) 766-1600 Email: michael.stewart@faegredrinker.com adam.ballinger@faegredrinker.com LINQTO TEXAS: Users Accuse Founder of Violating Securities Laws --------------------------------------------------------------- Clara Geoghegan of Law360 reports that customers of the recently bankrupt private investment platform Linqto filed a proposed class action in New York federal court on Wednesday, July 9, 2025, accusing the company's founder and former CEO of violating securities laws and leading aggressive, misleading marketing efforts to attract investors. About Linqto Inc. Linqto Inc. is a San Jose-based financial technology company operating in the alternative investment space. Linqto Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90187) on July 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500 million and $1 billion. The Debtor is represented by Gabrielle A. Hamm, Esq. at Schwartz, PLLC. Breakpoint Partners LLC is the Debtor's restructuring advisor. Epiq Corporate Restructuring, LLC is the Debtor's claims agent. ThroughCo Communications, LLC is the Debtor's public relations agent. LPB MHC: Farmers State Bank Loses Summary Judgment Bid ------------------------------------------------------ Judge Mary P. Gorman of the United States Bankruptcy Court for the Southern District of Illinois denied the motion for summary judgment filed by Farmers State Bank of Alto Pass as to Counts IV and V in the adversary complaint captioned as LPB MHC, LLC d/b/a Sam C. Mitchell & Assocs., Plaintiff, v. FARMERS STATE BANK OF ALTO PASS, Defendant, Adv. No. 25-04001 (S.D. Ill.). The Debtor, LPB MHC d/b/a Sam C. Mitchell & Associates, filed its voluntary petition under Chapter 11 Subchapter V on Nov. 5, 2024. In subsequently filed schedules, the Debtor listed Farmers State Bank as potentially having a secured claim against it in the amount of $2.4 million. The debt to Farmers State Bank was scheduled as secured by "inventory, chattel paper, accounts, equipment, general intangibles, and fixtures." The debt was also marked as disputed. The Debtor is a law firm that concentrates in personal injury and workers' compensation cases. The firm was owned and operated by member managers LPB Law, LLC, controlled by Attorney Lance P. Brown, and MHC Law, LLC, controlled by Attorney Matthew H. Caraway, until Aug. 1, 2022. On that date, a revised operating agreement was signed adding BJZ Law, LLC, controlled by Attorney Brandon J. Zanotti, as a new member manager. Each of the LLCs was scheduled as owning a 33.33% interest in the Debtor upon execution of the revised agreement. Documents included in the filings of all parties reflect that BJZ Law paid $2.4 million for its interest in the Debtor using a loan funded by Farmers State Bank of Alto Pass, a bank at which Mr. Zanotti served on the board of directors. The $2.4 million payment was made by BJZ Law on Oct. 12, 2022. The loan from Farmers State Bank was secured by Mr. Zanotti's personal guarantee, an insurance policy on the life of Mr. Zanotti, and certain real estate owned by SCM Real Estate LLC, a company formed and managed by Mr. Brown, Mr. Caraway, and Mr. Zanotti; the loan was also allegedly secured by a commercial security agreement signed by all three members of the Debtor. As part of the transaction, Mr. Zanotti, who previously served as Williamson County States Attorney, began practicing law with the Debtor firm and was compensated accordingly. In early March 2024, Mr. Zanotti disclosed to Mr. Caraway that the FBI had approached him in September 2022 regarding a sale of real estate he had been involved in and that he was being investigated for bank fraud and possibly other crimes related to that sale. On March 21, 2024, Mr. Zanotti pleaded guilty to federal felony charges. He was later sentenced to probation for two years. After Mr. Zanotti's guilty plea and employment termination, BJZ Law defaulted on the loan. In an effort to collect on the obligation owed to it, Farmers State Bank turned to the Debtor. The bank sent notices to a number of attorneys representing defendants in cases in which the Debtor represented the plaintiffs. After receiving a response letter from the Debtor's attorney pointing out potential problems with the Bank's conduct, Farmers State Bank filed a lawsuit in Williamson County, Illinois, seeking a declaratory judgment that it was entitled to make the contacts that it had and that it was not tortiously interfering with the Debtor. The Chapter 11 bankruptcy case was filed to stop Farmers State Bank's continuing contacts that the Debtor believed interfered with its ability to represent its clients. The Debtor filed its seven-count adversary complaint against Farmers State Bank in January 2025. The first three counts of the complaint object to the claim filed by Farmers State Bank on its own behalf and to two claims that Farmers State Bank filed on behalf of BJZ Law and Brandon Zanotti; each such count seeks a determination of the amount, priority, and validity of each claim and any secured status asserted in such claims. Count IV of the complaint purports to state a cause of action against Farmers State Bank for "Libel and Other Tortious Conduct" based on Farmers State Bank's communication with defense counsel involved in Debtor's cases. Count V seeks to equitably subordinate any claim of Farmers State Bank that might otherwise be allowed based on the alleged wrongful conduct. Count VI seeks a declaratory judgment regarding the existence and validity of the secured claims filed by Farmers State Bank on its own behalf and for BJZ Law. Count VII seeks a declaratory judgment regarding the value of any collateral supporting Farmers State Bank's secured claim as of the petition date. Farmers State Bank filed a timely answer to the complaint and, one day after answering, filed a motion for summary judgment asking that Counts IV and V be dismissed with prejudice and that all other counts be dismissed without prejudice to the filing of claim objections in the main case. The motion for summary judgment contained no statement of material and uncontested facts and wholly failed to comply with the local rules for such motions. The motion for summary judgment was stricken due to that failure. In the order striking, Farmers State Bank was admonished that the motion for summary judgment appeared to be premature and was urged to exercise caution in refiling a similar motion in the short term. Nevertheless, one week later, Farmers State Bank filed another motion for summary judgment seeking judgment in its favor on Counts IV and V. In Count IV, the Debtor claims that it was libeled by Farmers State Bank because the bank published notices to defense counsel saying that the Debtor had entered into an "Assignment" of all its rights in its receivables and general intangibles. The Debtor says that the use of the term "Assignment" is false and untrue. Although Count IV is labelled as pleading other tortious conduct, no other tort is identified, and a footnote suggests that more discovery is needed to fully identify all actionable tortious conduct of Farmers State Bank. According to the Court, Count IV provides no more than a general allegation of harm. It does not plead the elements of libel, and it does not even identify any other tort it attempts to plead. But Farmers State Bank did not seek dismissal under Rule 12(b)(6) by motion or in its answer. In the absence of any such request, the relief will not be granted, the Court finds. As to Count V, the Debtor lists a series of "inequitable" actions by Farmers State Bank and claims that the conduct justifies equitable subordination of any allowed claim of Farmers State Bank. Equitable subordination may be ordered when a creditor's conduct has been inequitable, resulting in harm to other creditors with claims, and when the subordination would not otherwise contradict the Bankruptcy Code. The list of alleged wrongful conduct by Farmers State Bank contained in Count V is both sufficient to state a claim and sufficient to avoid summary judgment. Farmers State Bank says that its conduct was not wrongful, but the Court has already explained why that is not true. It also points out that there are only a few other claims and contends that subordination of its claim is therefore not meaningful. Judge Gorman holds, "That may be true, but it is not a basis to grant summary judgment. It should also be noted that in neither the original plan of reorganization nor the amended plan currently pending confirmation is the claim of Farmers State Bank treated as subordinated. Thus, the Debtor may not be seriously pursuing this remedy. That remains to be seen. For the time being, however, summary judgment must be denied." A copy of the Court's Opinion dated June 26, 2025, is available at https://urlcurt.com/u?l=P059xU from PacerMonitor.com. About LPB MHC LPB MHC, LLC, doing business as Sam C. Mitchell and Associates, is a law firm that concentrates in personal injury and workers' compensation cases. LPB MHC, LLC, filed Chapter 11 petition (Bankr. S.D. Ill. Case No. 24-40450) on November 5, 2024, with up to $10 million in both assets and liabilities. Lance P. Brown, managing member, signed the petition. Judge Mary P. Gorman oversees the case. Robert Eggmann, Esq., represents the Debtor as legal counsel. LYNDA TRANSPORTATION: Seeks Chapter 11 Bankruptcy in Illinois ------------------------------------------------------------- On July 9, 2025, Lynda Transportation Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Illinois. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Lynda Transportation Inc. Lynda Transportation Inc. is a transportation company based in Hoffman Estates, Illinois. Lynda Transportation Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10429) on July 9, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. The Debtors are represented by Modestas Law Offices, P.C. LYNDA TRANSPORTATION: Voluntary Chapter 11 Case Summary ------------------------------------------------------- Debtor: Lynda Transportation, Inc. 1240 Mallard Lane Hoffman Estates, IL 60192 Business Description: Lynda Transportation, Inc. is a freight carrier that provides interstate trucking services across the United States. The Company transports general freight, machinery, metals, and agricultural and construction supplies using dry vans and flatbeds. It operates from locations in Hoffman Estates and Carpentersville, Illinois. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 25-10429 Debtor's Counsel: Saulius Modestas, Esq. MODESTAS LAW OFFICES, P.C. 401 S. Frontage Rd., Ste. C Burr Ridge, IL 60527-7115 Tel: 312-251-4460 Fax: 312-277-2586 E-mail: smodestas@modestaslaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Maria Grynenko as president. The Debtor failed to provide a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/5W5H22I/Lynda_Transportation_Inc__ilnbke-25-10429__0001.0.pdf?mcid=tGE4TAMA MARVEL LIGHTING: Hires Richey Mills as Financial Advisor -------------------------------------------------------- Marvel Lighting LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to employ Richey Mills & Associates as financial advisor. The firm's services include: a. consulting and advising relationship with the ownership and management of the Debtor; b. providing general business advisory services to the Debtor including consultation on its financial statements, accounting processes, and other financial system-related need; and c. preparing of weekly cash forecasts, various financial schedules and supplemental analytics useful to the Debtor. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Prior to the filing date, the Debtor paid the firm an initial retainer of $5,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Joseph F. Breen, Esq. Richey Mills & Associates 3815 River Crossing Parkway, Suite 100 Indianapolis, IN 46240 Tel: (317) 713-7540 About Marvel Lighting LLC Marvel Lighting, LLC is a lighting designer and distributor based in Carmel, Indiana. Marvel Lighting sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-03349) on June 10, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. John Ansted, principal at Marvel Lighting, signed the petition. Judge Jeffrey J. Graham oversees the case. John Allman, Esq., at Hester Baker Krebs, LLC, represents the Debtor as legal counsel. MEYER BURGER: U.S. Trustee Appoints Creditors' Committee -------------------------------------------------------- The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Meyer Burger (Holding) Corp. and its affiliates. The committee members are: 1. Amcor Flexibles Transpac BV Attn: Ciaran Dillon Amcor Central Services Bristol 83 Tower Road North, Warmley Bristol, BS30 8XP United Kingdom Phone: +447749637508; Ciaran.Dillon@amcor.com 2. Fura Freight LLC (f/k/a AOK Freight LLC) Attn: Jeff Dangelo 13851 W 63rd Street, #377 Shawnee, KS 62216 Phone: 513-623-4249 jeff@fura.com 3. Shinyang Metal Attn: Chun Min Soo Lot XN3-1A, Lot XN3-1G and Lot XN7-1 Dai An Expansion IZ Lai Cach, Cam Giang Hai Duong Province Vietnam Phone: +84-220-3559 858 mschun@shin-yang.com 4. Schrader Mechanical, Inc. Attn: Kimberly Maynard 1015 Black Diamond Way Lodi, CA 95240 Phone: 209-369-6888 kim.m@smiwest.com 5. Synergy West, LLC Attn: Chase Bernhard 4020 S 15th Ave. Phoenix, AZ 85041 Phone: 480-369-1145 chase@synergywastegroup.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Meyer Burger (Holding) Corp. Meyer Burger (Holding) Corp. is an industrial manufacturer of solar cells and solar modules. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11217-CTG) on June 25, 2025. In the petition signed by Justin D. Pugh, chief restructuring officer, the Debtor disclosed up to $500 million in assets and up to $1 billion in liabilities. Judge Craig T. Goldblatt oversees the case. Paul N. Heath, Esq., at Richards, Layton & Finger, P.A., represents the Debtor as legal counsel. GLAS USA LLC, as DIP lender, is represented by: John W. Weiss, Esq. Pashman Stein Walder Hayden, P.C. 824 North Market Street, Suite 800 Wilmington, DE 19801 Telephone: (302) 592-6496 Facsimile: (201) 488-5556 Email: jweiss@pashmanstein.com -- and -- William Hao, Esq Alston & Bird LLP 90 Park Avenue New York, New York 10016 Telephone: (212) 210-9400 Facsimile: (212) 210-9444 Email: William.Hao@alston.com -- and -- Anna Nolan, Esq. Alston & Bird LLP 6th Floor, 3 Noble Street London, EC2V 7EE United Kingdom Telephone: +44 20 8161 4000 Email: anna.nolan@alston.com MINORTICO REALTY: Case Summary & Nine Unsecured Creditors --------------------------------------------------------- Debtor: Minortico Realty Corp 967 Nostrand Avenue Brooklyn, NY 11225 Business Description: Minortico Realty Corp, a single-asset real estate entity, owns the property at 967 Nostrand Avenue in Brooklyn, New York, which is appraised at $24.9 million. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-43261 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Narissa A. Joseph, Esq. NARISSA A. JOSEPH 305 Broadway, Suite 1001 New York, NY 10007 Tel: (212) 233-3060 Fax: (646) 607-3335 E-mail: njosephlaw@aol.com Total Assets: $24,904,704 Total Liabilities: $16,563,899 The petition was signed by Colin Karl Cohen as president. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JBXGQVA/Minortico_Realty_Corp__nyebke-25-43261__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Nine Unsecured Creditors: Entity Nature of Claim Claim Amount 1. 130-46 226th Street LLC $781,192 C/O Opal A. McFarlane, Esq 1721 Brooklyn Avenue Brooklyn, NY 11210 2. 1803 Fairfax Street LLC $592,816 C/O Opal A. McFarlane, Esq 1721 Brooklyn Avenue 11210 3. 190 East 31 Street $900,000 Alliance LLC C/O Opal A. McFarlane, Attorney at Law 1721 Brooklyn Avenue Brooklyn, NY 11210 4. City Builders/Big $3,250 Apple Group NY 936 S Oster Bay Rd Hicksville, NY 11801 5. Frank Seta & Associates $100,330 35 W. 35th St New York, NY 10001 6. Glickman Engineering $86,334 Associates 545 8th Avenue, 16th Floor New York, NY 10018 7. Madelien Kerr $0 8109 Glenwood Road, Basement Apt Brooklyn, NY 11236 8. NYC Dept of Finance $47,239 Correspondence Unit One Centre Street, 22nd Floor New York, NY 10007 9. NYC Dept of Finance $7,323 Correspondence Unit One Centre Street, 22nd Floor New York, NY 10007 MINORTICO REALTY: Seeks Chapter 11 Bankruptcy with $16.6MM Debt --------------------------------------------------------------- On July 9, 2025, Minortico Realty Corp. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filing, the Debtor reports $16.6 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Minortico Realty Corp. Minortico Realty Corp. is a New York-based single asset real estate company with principal assets located at 967 Nostrand Avenue in Brooklyn, New York. Minortico Realty Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43261) on July 9, 2025. In its petition, the Debtor reports $24.9 million in assets and $16.6 million in liabilities. The Debtors are represented by Narissa A. Joseph, Esq. MOSAIC COMPANIES: Case Summary & 30 Largest Unsecured Creditors --------------------------------------------------------------- Lead Debtor: Mosaic Companies, LLC 400 Technology Ct. Building 400, Suite R Smyrna, GA 30082 Business Description: Mosaic Companies, LLC provides stone, tile, and surface products through its subsidiaries Walker & Zanger, LLC and Surfaces Southeast, LLC. The Company operates showrooms and slab galleries across the U.S., distributing under the Walker Zanger and Anthology brands, and supplies mosaic and specialty wall tiles to commercial clients. It is based in Smyrna, Georgia, and Hialeah, Florida. The remaining Debtors consist of holding companies or nonoperating entities with no significant assets or liabilities, aside from guarantees on existing debt. Chapter 11 Petition Date: July 8, 2025 Court: United States Bankruptcy Court District of Delaware Ten affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Mosaic Companies, LLC (Lead Debtor) 25-11296 Surfaces Southeast Holdco, LLC 25-11297 Mosaic Midco, LLC 25-11298 Retile, LLC 25-11299 Wallec Enterprises, LLC 25-11300 CAYP, LLC 25-11301 Surfaces Southeast, LLC 25-11302 Walker & Zanger, LLC 25-11303 WZCA Holdings, LLC 25-11304 Mustang Stone Quarries, LLC 25-11305 Judge: Hon. Craig T Goldblatt Debtors' Bankruptcy Counsel: Matthew B. Harvey, Esq. Derek C. Abbott, Esq. Sophie Rogers Churchill, Esq. Avery Jue Meng, Esq. MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N. Market Street, 16th Floor Wilmington, Delaware 19801 Tel: (302) 658-9200 Fax: (302) 658-3989 Email: mharvey@morrisnichols.com dabbott@morrisnichols.com srchurchill@morrisnichols.com ameng@morrisnichols.com Debtors' Financial Advisor: BERKLEY RESEARCH GROUP, LLC Debtors' APA-Related Counsel: EVERSHEDS SUTHERLAND US LLP Debtors' Claims, Administrative & Solicitation Agent: EPIQ CORPORATE RESTRUCTURING, LLC Lead Debtor's Estimated Assets: $10 million to $50 million Lead Debtor's Estimated Liabilities: $100 million to $500 million The petitions were signed by Randall Jackson as Group president and chief executive officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PCIZQXY/Mosaic_Companies_LLC__debke-25-11296__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Tile Matrix LLC Import Supplier $298,083 7911 SW 157th Court Miami, FL 33193 Contact: Nimesh Phone: (305) 338-6621 Email: sales@tilematrix.com; nimesh@tilematrix.com 2. Deltaker, S.A. Import Supplier $252,102 Avda. Castilla-La Mancha 7 Onda, Castellon 12200 Spain Contact: Miguel Taus Phone: +34 964 776 240 Email: administracion@deltaker.com; deltaker.miguel@deltaker.com 3. Terreno Middlebrooke LLC Rent $238,128 2335 Nw 107th Ave Suite Mc8 Doral, FL 33172 Contact: Randolph Peters Phone: (415) 655-458 Email: acquisitions@terreno.com 4. CIFRE Ceramica S.L. Import Supplier $177,327 Carretera Villarreal A Onda KM 10 Onda, Castellon 12200 Spain Contact: Mercedes Rebollar Phone: +34 687 433 108 Email: mercherebollar@hotmail.com; merche@cifreceramica.com 5. North Hills Industrial Park, Inc. Rent $157,507 9595 Wilshire Blvd. Suite 214 Beverly Hills, CA 90212 Contact: Robert Geringer Phone: (310) 432-1051 Email: accounting@geringercapital.com 6. Ceramica Da Vinci, S.L. Import Supplier $156,366 Av. Mediterraneo 67 Onda, Castellon 12200 Spain Contact: Francisco Llorens Phone: +34 699 307 653 Email: fllorens@ceramicadavinci.net 7. LVG Ceramic Surfaces SL Import Supplier $142,943 Ctra Vila-Real, Km 2.5 Onda, Castellon 12540 Spain Contact: Alex Romero Phone: +34 964 914 181 Email: aromero@livingceramics.com 8. Marmi Orobici Graniti Spa Import Supplier $132,830 Via Sandro Pertini, 34 Telgate, Bergamo Italy Contact: Andrea Finazzi Phone: +39 3428 405648 Email: andrea@marmiorobici.it 9. Estudio Ceramico, S.L. Import Supplier $87,193 Partida Rachina S/N Sant Joan De Moro, Castellon 12130 Spain Contact: Julian Torner Jose Ramon Vilar Phone: +34 964 328 187 Email: jvilar@eceramico.com 10. GR Marmi Import Supplier $85,913 Viale D. Zaccagna Avenza Carrara 6–54031 Italy Contact: David Peselli Phone: +39 345 3730821 Email: david@grmarmi.it 11. Rose Art Mosaic Co., Ltd. Import Supplier $84,153 50 Xindi Rd. Kaiping Guangdong 529300 China Contact: Vita Zhan Phone: +86 138 2625 8628 Email: v.zhan@rosemosaic.com 12. Navarti Ceramica S.L.U. Import Supplier $78,797 Ctra Onda Villareal Km 3.5 Onda, Castellon 12200 Spain Contact: Juan Borrero Cristina Lozano Phone: +34 964 776 262 Email: jborrero@navarti.com; clozano@navarti.com 13. Michelangelo Marmores Import Supplier $77,813 Do Brasil R KS-2, 1884 - 2144 Quatro Barras, Parana 83420 Brazil Contact: Marcello Zicarelli Phone: (41) 3021-6000 Email: marcello.zicarelli@michelangelo.com.br 14. Ceramica Estilker, S. L. Import Supplier $77,480 Pi El Colomer, C/ Castilla Leon S/N, Onda, Castellon 12200 Spain Contact: Manuel Fortuno Phone: (667) 479-720 Email: manuel@ceramicaestilker.com 15. Amagran Importacao E Import Supplier $76,674 Exportacao Ltda Rod. Camilo Coa S/N - Es 488 Km 8.5 Regiao Monte Libano Cachoeiro De Itapemirim, ES Brazil Contact: Talles Boone Phone: (55) 273-317-0351 Email: sales@amagran.com; renata@amagran.com 16. RL Sunflower Properties, LLC Rent $66,809 517 12th Street Santa Monica, Ca 90402 Contact: Robert L. Cannon Phone: (310) 384-4221 Email: cannonproperties9@gmail.com 17. Mercury Ceramica, S.L. Import Supplier $63,862 Ctra. Onda-Villarreal, Km 3.4, Onda, Castellon 12200 Spain Contact: Raquel Blasco Phone: +34 964 771 449 Email: rblasco@mercuryceramica.com 18. Favorita S.P.A. Import Supplier $61,153 Marmi E Graniti Conterno Via Fossacan, 10/A Lonigo 36045 Italy Contact: Stefano Modena Phone: +39 0444 436311 Email: favorita@granitifavorita.com; stefano@granitifavorita.com 19. Hastone Company Import Supplier $58,773 L9-09, Duong Noi New Urban Area To Huu Str Hadong Dist, Hanoi Vietnam Contact: Thinh Do Phone: 849 13316510 Email: hastone1@vnn.nn 20. Savino Del Bene Italy Import Freight $56,210 Scali Del Corso Livorno 557123 Italy Contact: Fabio Camiciadolfo Rossi Phone: +39 0586 892473 Email: fabio.camici@savinodelbene.com; adolfo.rossi@savinodelbene.com 21. Securitas Technology Service Provider $52,581 Corporation Dept Ch 10651 Palatine, IL 60055 Contact: Justin Deyonge Phone: (855) 331-0359 Email: justin.deyonge@securitas.com 22. Stone Profit Systems Service Provider $52,578 1629 North Ashland Chicago, IL 60622 Contact: Chandu Rudraraju Phone: (305) 372-9787 Email: accounting@stoneprofits.com 23. Pazigram Pazini Granitos E Import Supplier $52,190 Marmores Ltda Rod. Es 488 – Km 30 Sitio Da Serra – Frade-Itapecoa Itapemirim, Es Brazil Contact: Lorran Belmock Phone: +55 28 99963 3100 Email: pazigram@pazigram.com.br 24. Ceramica Vilar Albaro, S.L. Import Supplier $51,907 Partida Saloni 15 Sant Joan De Moro, Castellon 12130 Spain Contact: Jose Antonio Soto Phone: +34 964 361 825 Email: nguillen@salcamar.com 25. Woodall Realty Company Rent $47,958 3155 Roswell Rd NE Ste 100 Atlanta, GA 30305 Ontact: Oran Woodall Phone: (404) 237-8638 Email: marie@woodallrealty.net; odw@woodallrealty.net 26. Dunn Transport Solutions Inc. Local Freight $47,870 1229 N Joshua Ave Clovis, CA 93619-8601 Contact: Patrick Dunn Phone: (559) 500-1080 Email: ar@dunnfreight.com 27. Alttoglass Import Supplier $47,473 Pol. Ind. Casablanca, S/N Moncofar, Castellon 12593 Spain Contact: Myriam Chausse Phone: (964) 577-878 Email: export@alttoglass.com 28. Foshan City Hengyang Trading Import Supplier $47,361 Co., Ltd Room 609, Building A China-Europe E-Commerce City Lecong Town, Shunde District China Contact: Eva Zhou Phone: +86 136 3008 4813 Email: eva-cht@qq.com 29. Joaquim Duarte Urmal & Filhos Import Supplier $46,160 Apartado 16, 2716-901 Pero Pinheiro Portugal Contact: Pedro Urmal Phone: +351 219 279 179 Email: urmal@urmal.com; contabilidade.urmal@mail.telepac.pt 30. Bestile, S.L. Import Supplier $44,018 Ptda. La Torreta, S/N Alcora, Castellon 12110 Spain Contact: Celso Lopez Gomez Phone: (964) 367-320 Email: salsaserra@bestile.es; info@bestile.es MSB TRUST: Seeks Chapter 11 Bankruptcy in Utah ---------------------------------------------- On July 8, 2025, MSB Trust filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Utah. 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 MSB Trust MSB Trust is a revocable trust with its principal place of business in Salt Lake City, Utah. MSB Trust sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-23863) on July 8, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $100,000 and $500,000. The Debtors are represented by Ford & Huff LC. MTE LLC: Cash Today Seeks Emergency Appointment of Receiver ----------------------------------------------------------- In the case, CASH TODAY LLC, and MONEYBOX ATM NEVADA LLC, Plaintiffs v. MTE LLC a/k/a MTE PLATINUM CASH LLC, and MICHAEL W. TYLER, SR., Defendants, Case No. 2:21-cv-02360-EFM (D. Kan.), the Plaintiffs move the Court to grant various pre-judgment relief on an emergency basis. The Plaintiffs filed this case asserting multiple claims against Defendants stemming from a dispute regarding an alleged agreement for MTE to sell certain ATM assets to Plaintiff Cash Today, LLC. The claims in this case include: a breach-of contract claim against MTE (Count 1); a fraud and fraudulent misrepresentation claim against both Defendants (Count 2); recission claims against MTE (Counts 3 and 4); an unjust enrichment claim against MTE (Count 5); a tortious interference claim against both Defendants (Count 6); a conversion claim against both Defendants (Count 7); and a deceptive trade practice claim against both Defendants (Count 8). Plaintiffs Cash Today LLC and MoneyBox ATM Nevada LLC achieved complete success at trial, with this Court, pursuant to the Memorandum and Order, entering judgment against Defendants on multiple claims in the full amount sought by Plaintiffs -- i.e., $750,397.02. The Court also found that Defendants' conduct warranted punitive damages. An evidentiary hearing was held on May 28, 2025, relating to punitive damages, and the amount of punitive damages to be awarded against Defendants remains pending with this Court. Also pending before the Court are Plaintiffs' Motion for Attorneys' Fees and Costs and supporting Memorandum of Law and Defendants' opposing Memorandum of Law and Defendants' Motion for New Trial and supporting Memorandum of Law and Plaintiffs' opposing Memorandum of Law. With that emergency backdrop, the Plaintiffs move that the Court appoint a receiver over the affairs of MTE and, in more limited fashion, the assets to be attached and garnished of Tyler, pursuant to Fed. R. Civ. P. 66, federal common law and this Court's equitable powers, and K.S.A. Section 60-711. The Plaintiffs contend that a receiver will evaluate the circumstances relating to MTE and continue business or liquidate assets in the best interests of MTE and all its creditors. The Defendants are liquidating MTE's assets and fraudulently and preferentially transferring assets to their benefit and for the purpose of fraudulently avoiding payment to Plaintiffs. The fraudulent and preferential transfers to third parties also do not benefit such third parties. MMT Ventures, Dats ATM, M M ATM, the recipient of the $620,000 payment, and other creditors and transaction counterparties of MTE are now subject to litigation by having received fraudulent and preferential transfers. All creditors and transaction counterparties of MTE will be benefited by a receiver -- a neutral third party with a fiduciary duty to all interest holders in the receivership estate -- being appointed for the best interests of the receivership estate. The Plaintiffs suggest Christopher S. Dove of Fagan & Emert LLC be appointed receiver. Mr. Dove served as a trial attorney for the United States Department of Justice Civil Tax Division in Washington, D.C. pursuing recovery of assets hidden in fraudulent tax shelters and other schemes. The Plaintiffs assert that the receiver will pursue fraudulent and preferential transfers pursuant to state and federal law such that MTE's recent fraudulent and preferential transfers are unwound for the collective benefit of the receivership estate. MTE LLC a/k/a MTE Platinum Cash LLC is a Nevada limited liability company. Plaintiffs Cash Today LLC and MoneyBox ATM Nevada LLC, are represented by: Rick Shearer, Esq. Robert A. Hammeke, Esq. 4520 Main Street, Suite 1100 Kansas City, MO 64111 Telephone: (816) 460-2400 E-mail: rick.shearer@dentons.com robert.hammeke@dentons.com NATURAL STATE: Hires Honey Law Firm P.A. as Attorneys ----------------------------------------------------- Natural State Contractors, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Arkansas to employ Honey Law Firm, P.A. as its attorneys. The firm will render these services: (a) advise and consult with the Debtor concerning questions arising in the conduct of the administration of the estate and concerning the Debtors rights and remedies with regard to the estate's assets and claims of secured, priority and unsecured creditors and other parties in interest; (b) appear for; prosecute, defend, and represent the Debtor interest in adversary proceedings and/or contested matters arising in or related to this case; (c) investigate and prosecute preference and other actions arising under the debtor's avoiding powers. (d) assist in the preparation of such pleadings, motions, notices and orders as are required for the orderly administration of this estate and to consult with and advise the Debtor in connection with the operation of or termination of the operation of the business of debtor; (e) assist in the preparation of a Plan of Reorganization and to present said Plan of Reorganization to this Court for approval and confirmation; and (f) undertake all other necessary and appropriate legal representation of the Debtor in this proceeding. The firm will be paid at these rates: Marc Honey $375 per hour Alexandra Honey $225 per hour Paralegal $125 per hour Prior to the petition date, the Debtor paid the sum of $35,000. Marc Honey, Esq., an attorney at Honey Law Firm, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Marc Honey, Esq. Honey Law Firm, PA P.O. Box 1254 Hot Springs, AR 71902 Tel: (501) 321-1007 Fax: (501) 321-1255 Email: mhoney@honeylawfirm.com About Natural State Contractors, Inc. Natural State Contractors Inc. is a construction firm based in Hot Springs National Park, Arkansas. The Company specialized in residential remodeling projects, including kitchen and bathroom renovations, custom home building, and countertop installations. Natural State Contractors Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ark. Case No. 25-71062) on June 25, 2025. In its petition, the Debtor reports total assets of $839,049 and total liabilities of $1,839,89. Honorable Bankruptcy Judge Richard D. Taylor handles the case. The Debtors are represented by Marc Honey, Esq. at HONEY LAW FIRM, P.A. NHC INVESTMENTS: Section 341(a) Meeting of Creditors on August 14 ----------------------------------------------------------------- On July 8, 2025, NHC Investments LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Louisiana. 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(a) to be held on August 14, 2025 at 02:00 PM at 341 Meeting - Telephone Conference, UST. Call: 888-330-1716, Passcode: 5240151#. About NHC Investments LLC NHC Investments LLC is a Louisiana-based real estate holding company with properties in St. Landry Parish. NHC Investments LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La.Case No. 25-50600) on July 8, 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 John W. Kolwe handles the case. The Debtors are represented by David Patrick Keating, Esq. NOBLE LIFE: Hires Scarlett & Croll PA as Bankruptcy Counsel ----------------------------------------------------------- Noble Life Sciences, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Scarlett & Croll, PA as bankruptcy counsel. The firm will render these services: (a) advise the Debtor of its rights, powers, and duties; (b) represent the Debtor in defense of proceedings instituted to reclaim property of the estate or to obtain relief from the automatic stay under Sec. 362 of the Bankruptcy Code; (c) assist the Debtor in the preparation of schedules, statement of financial affairs, and any amendments thereto that the Debtor may be required to file in this case; (d) represent the Debtor's interests in this bankruptcy proceeding; (e) assist the Debtor in the preparation of its Plan of Reorganization and supporting documents or an orderly liquidation of its assets; (f) investigate and advise the Debtor as to the potential ways to reorganize its affairs and attempt, if appropriate, to discover potential assets in this bankruptcy proceeding; and (g) perform all of those duties appropriate to represent the Debtor in this bankruptcy proceeding. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Within one month prior to the filing of the Debtor's Bankruptcy Petition, the Debtor paid Scarlett & Croll, P.A. $27,584.40 for legal fees and expenses associated with filing this bankruptcy proceeding. Robert Scarlett, Esq., a partner at Scarlett & Croll, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert B. Scarlett, Esq. Scarlett & Croll, PA 201 N. Charles St., Ste. 600 Baltimore, MD 21201 Telephone: (410) 468-3100 Facsimile: (410) 332-4026 Email: Rscarlett@scarlettcroll.com About Noble Life Sciences, Inc. Noble Life Sciences Inc. is a pre-clinical contract research organization that provides GLP and non-GLP services, including safety and efficacy testing, for drugs, vaccines, and medical devices. The Company offers capabilities in pharmacology, bioanalysis, analytical testing, and preclinical development across a range of therapeutic areas such as oncology, infectious diseases, and cardiovascular conditions. Noble Life Sciences Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-15637) on June 22, 2025. In its petition, the Debtor reports total assets of $488,456 and total liabilities of $5,160,511. The Debtors are represented by Robert B. Scarlett, Esq. at SCARLETT & CROLL, P.A. OCEAN FIVE: Seeks Approval to Hire Alvin L. Hagerich as Accountant ------------------------------------------------------------------ Ocean Five Condominium Association, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Alvin Hagerich, CPA, a professional practicing in Hudson, Florida, as accountant. The firm will render these services: (a) advise the Debtor with respect to its responsibilities in complying requests with the attorneys, accountants, and others regarding daily activities; and (b) aid in the representation of the Debtor in negotiation with its creditors in the preparation of a plan. Mr. Hagerich disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The professional can be reached at: Alvin L. Hagerich, CPA 14851 State Road 52 Unite 107-212 Hudson, FL 34669 About Ocean Five Condominium Association Ocean Five Condominium Association, Inc. is a real estate leasing company based in Victoria, Texas, specializing in owning and leasing commercial properties, providing spaces for retail and office use. Ocean Five Condominium Association sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15015) on May 2, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $500,000 and $1 million in liabilities. Judge Laurel M. Isicoff handles the case. The Debtor tapped Robert C. Meyer, Esq., at Meyer & Nunez, PA as counsel and Alvin L. Hagerich, CPA, as accountant. OCEAN FIVE: Seeks Approval to Hire Meyer & Nunez as Legal Counsel ----------------------------------------------------------------- Ocean Five Conduminium Association, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Meyer & Nunez, PA as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties and the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the case; (d) protect the interest of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. Robert Meyer, Esq., an attorney at Meyer & Nunez, 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 Meyer, Esq. Meyer & Nunez, PA P.O. Box 430160 South Miami, FL 33243 Telephone: (305) 285-8838 About Ocean Five Condominium Association Ocean Five Condominium Association, Inc. is a real estate leasing company based in Victoria, Texas, specializing in owning and leasing commercial properties, providing spaces for retail and office use. Ocean Five Condominium Association sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15015) on May 2, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $500,000 and $1 million in liabilities. Judge Laurel M. Isicoff handles the case. The Debtor tapped Robert C. Meyer, Esq., at Meyer & Nunez, PA as counsel and Alvin L. Hagerich, CPA, as accountant. OCEAN FIVE: Seeks Court Approval to Tap Blue Sky Miami as Manager ----------------------------------------------------------------- Ocean Five Conduminium Association, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Blue Sky Miami, Inc. as manager. The firm will render these services: (a) advise the Debtor with respect to daily matters handled by managers for Home Owners Associations; (b) advise the Debtor with respect to its responsibilities in complying requests with the attorneys, accountants, and others regarding daily activities; and (c) aid in the representation of the Debtor in negotiation with its creditors in the preparation of a plan. Carlos Herrera, a property manager at Blue Sky Miami, 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: Carlos Herrera Blue Sky Miami, Inc. 1680 Michigan Ave., Ste. 1014 Miami Beach, FL 33139 About Ocean Five Condominium Association Ocean Five Condominium Association, Inc. is a real estate leasing company based in Victoria, Texas, specializing in owning and leasing commercial properties, providing spaces for retail and office use. Ocean Five Condominium Association sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15015) on May 2, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $500,000 and $1 million in liabilities. Judge Laurel M. Isicoff handles the case. The Debtor tapped Robert C. Meyer, Esq., at Meyer & Nunez, PA as counsel and Alvin L. Hagerich, CPA, as accountant. OFFSHORE SAILING: Seeks to Hire Williamson Law Firm as Counsel -------------------------------------------------------------- Offshore Sailing School, Ltd., Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Williamson Law Firm as counsel. The firm will provide these services: (a) take all action necessary to protect and preserve the estate of the Debtor; (b) prepare, on behalf of the Debtor, legal papers, required in connection with the administration of the estate; (c) counsel the Debtor with regard to its rights and obligations; (d) prepare and file schedules of assets and liability; (e) prepare and file a plan of reorganization and disclosure statement; and (f) perform all other necessary legal services in connection with this Chapter 11 case. The firm's hourly rates are as follows: Leon Williamson, Jr., Attorney $400 Paralegal/Legal Assistant $100 - $175 In addition, the firm will seek reimbursement for expenses incurred. Mr. Williamson 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: Leon A. Williamson, Jr., Esq. Williamson Law Firm 306 South Plant Ave., Suite B Tampa, FL 33606 Telephone: (813) 253-3109 Facsimile: (813) 315-6849 Email: Service@LwilliamsonLaw.com About Offshore Sailing School 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 Debtor is represented by Leon Williamson, Esq. at Williamson Law Firm. PALWAUKEE HOSPITALITY: Plan Exclusivity Extended to Sept. 30 ------------------------------------------------------------ Judge David D. Cleary of the U.S. Bankruptcy Court for the Northern District of Illinois extended Palwaukee Hospitality, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to September 30 and December 1, 2025, respectively. As shared by Troubled Company Reporter, the instant bankruptcy proceeding was filed under Chapter 11 of the Bankruptcy Code on February 23, 2025. The Debtor explains that it has been working towards achieving a plan that is acceptable to creditors and will provide the most benefit to the Bankruptcy Estate. In order to achieve this goal, the Debtor needs additional time to retain professionals and to work with creditors. The Debtor asserts that the extension of times will not prejudice any creditors or the United States Trustee. Palwaukee Hospitality, LLC is represented by: Paul M. Bach, Esq. Penelope N. Bach, Esq. Bach Law Offices, Inc. P.O. BOX 1285 Northbrook, IL 60062 Telephone: (847) 564 0808 About Palwaukee Hospitality LLC Palwaukee Hospitality LLC operates a hotel property located at 600 N. Milwaukee Avenue in Prospect Heights, Illinois. Palwaukee Hospitality LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-02685) on February 23, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. Penelope N. Bach, Esq., at Bach Law Offices, is the Debtor's counsel. PITT STOP: Seeks to Hire Kasen & Kasen as Bankruptcy Counsel ------------------------------------------------------------ Pitt Stop Services, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Kasen & Kasen, PC to handle its Chapter 11 case. The firm has agreed to render legal services and be compensated for such services in accordance with and subject to all terms and conditions set forth in the retainer agreement. David Kasen, Esq., an attorney at Kasen & Kasen, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David A. Kasen, Esq. Kasen & Kasen, PC Society Hill Office Park 1874 E. Marlton Pike, Suite 3 Cherry Hill, NJ 08003 Telephone (856) 424-4144 Facsimile (856) 424-7565 Email: dkasen@kasenlaw.com About Pitt Stop Services Pitt Stop Services, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-15937) on June 4, 2025, listing under $1 million in both assets and liabilities. Judge Andrew B. Altenburg, Jr. handles the case. David A. Kasen, Esq., at Kasen & Kasen, PC serves as the Debtor's counsel. PPS PROPERTY: Section 341(a) Meeting of Creditors on August 13 -------------------------------------------------------------- On July 8, 2025, PPS Property 8-10 Sanford Ave. 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 $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 8/13/2025 at 09:00 AM at Telephonic. About PPS Property 8-10 Sanford Ave. LLC PPS Property 8-10 Sanford Ave. LLC is a single asset real estate entity that owns property at 8-10 Sanford Ave in Plainfield, New Jersey. PPS Property 8-10 Sanford Ave. LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-17193) on July 8, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 each. The Debtors are represented by Robert C. Nisenson, Esq. at Robert C. Nisenson, LLC. PPS PROPERTY: To Sell Plainfield Property to R. Padron for $750K ---------------------------------------------------------------- PPS Property 1213-1215 Putnam Ave LLC seeks permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property, free and clear of liens, claims, and encumbrances. The Debtor's Property is located at 1213-1215 Putnam Avenue, Plainfield, New Jersey. The Property to be sold is comprised of land and all the buildings, other improvements and fixtures on the land, all the Debtor's rights relating to the land, and all personal property specifically included in the contract. Also included in the sale are: gas and electric fixtures, chandeliers, wall-to-wall carpeting, linoleum, mats and matting in halls, screens, shades, awnings, storm windows and doors, TV antenna, water pump, sump pump, and water softeners. The Debtor wants to sell the Property to Rafael Padron with the purchase price of $750,000. The Debtor agrees to pay the broker a commission for services rendered in procuring the sale with a flat commission of $4000 to ESP Realty Inc. The Property is being sold "as is" and does not make any claims or promise about the condition or value of any of the property included in the sale. About PPS Property 1213-1215 Putnam Ave LLC PPS Property 1213-1215 Putnam Ave. LLC is a single-asset real estate company based in Plainfield, New Jersey, operates a property at 1213-1215 Putnam Avenue. PPS Property 1213-1215 Putnam Ave. LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-10171) on January 7, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. Robert C. Nisenson, Esq., at Robert C. Nisenson, LLC, represents the Debtor as counsel. PRESCART CORP: Gets Final OK to Use Cash Collateral --------------------------------------------------- PresCart Corp. received final approval from the U.S. Bankruptcy Court for the Western District of North Carolina, Charlotte Division, to use cash collateral to pay its expenses. The Debtor was authorized to use cash collateral only for ordinary and necessary business expenses in accordance with the court-approved budget. A 10% variance per budget line item is permitted on a cumulative basis. The Debtor projects monthly total operational expenses of $20,163. As protection for the use of their cash collateral, the lenders Stearns Bank, Simmons Bank, and Parafin, Inc. were granted security interests in, and liens on all post- petition payment intangibles of the Debtor. As of the filing date, the Debtor's assets included about $11,000 in customer deposits, $6,100 in pending credit card payments, and $28,000 in equipment and supplies. Stearns Bank holds a first-priority lien securing a debt of $196,279, while Simmons Bank and Parafin, Inc. assert subordinate liens for $245,000 and $70,000, respectively. The Debtor notes that Simmons and Parafin may be unsecured and reserves the right to challenge the validity of any liens at a later time. About PresCart Corp. PresCart Corp., d/b/a The Lash Lounge, provides eyelash and eyebrow services through personalized treatments such as lash extensions, lash lifts, tinting, and threading. Operating with a focus on customization and detail, the Company offers multiple lash extension styles including classic, volume, hybrid, and mega volume. Each service is performed by trained stylists aiming to enhance clients' appearance without the need for daily makeup. PresCart Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Case No. 25-30503) on May 16, 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 Ashley Austin Edwards handles the case. The Debtor is represented by: Richard S. Wright Moon Wright & Houston, PLLC Tel: 704-944-6564 Email: rwright@mwhattorneys.com PROSOURCE MACHINERY: Seeks to Extend Plan Exclusivity to Sept. 29 ----------------------------------------------------------------- ProSource Machinery, LLC asked the U.S. Bankruptcy Court for the District of Colorado to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to September 29 and November 25, 2025, respectively. Since the Petition Date, the Debtor has worked diligently to formulate a plan of reorganization. Here, several factors favor granting the requested extension. * Complexity: The Debtor's operations span two states and involve approximately 15 secured creditors with interests in numerous pieces of equipment and machinery. * Time and Information: The Debtor is undertaking material operational changes and requires time to assess their impact and incorporate the results into a feasible plan. * Progress: The Debtor has determined a restructuring path and is implementing a strategy to return to viability. * Compliance: The Debtor is generally paying its operating expenses as they come due and timely filing its monthly operating reports. * Good Faith and No Prejudice: This Motion is the Debtor's first such request, made in good faith, and is not intended to coerce creditors or delay proceedings. ProSource Machinery, LLC is represented by: David V. Wadsworth, Esq. Wadsworth Garber Warner Conrardy, P.C. 2580 W. Main St., Ste. 200 Littleton, CO 80120 Telephone: (303) 296-1999 Email: dwadsworth@wgwc-law.com About ProSource Machinery ProSource Machinery, LLC, sells and rents off-highway construction and mining equipment in Montana and Colorado. ProSource filed a Chapter 11 petition (Bankr. D. Colo. Case No. 25-11010) on Feb. 28, 2025, listing up to $10 million in assets and up to $50 million in liabilities. Derek Dicks, managing member of ProSource, signed the petition. Judge Kimberley H. Tyson oversees the case. David J. Warner, Esq., at Wadsworth Garber Warner Conrardy, P.C., is the Debtor's legal counsel. PROSPECT MEDICAL: Seeks to Hire KPMG as Tax Consulting Advisor -------------------------------------------------------------- Prospect Medical Holdings, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ KPMG LLP as tax consulting advisor. The firm will provide these services: (I) Tax Consulting Services: (i) KPMG will provide property tax appeals representation for multiple real property accounts in Los Angeles County, California and represent the Debtors before the County Assessor and the local assessment/administrative review board. (ii) KPMG will represent the Debtors before the U.S. Internal Revenue Service ("IRS") in submitting a request for a private letter ruling or other IRS guidance on the characterization of sale-leaseback transactions with respect to certain properties as financings for U.S. federal income tax purposes; and (iii) KPMG will provide general tax consulting on matters that may arise for which the Debtors seek advice, both written and oral, and that are not the subject of a separate engagement letter. (II) Advisory Services: (i) Divestiture Accounting: KPMG will support management in adjusting the trial balances of Prospect and the Business Units to reflect the separation of the planned divestitures. (ii) Carve Out Accounting: KPMG will support management with analyzing and splitting commingled balance sheet accounts for the Debtors and the Business Units, with a focus on shared balances and intercompany balances. KPMG will review corporate general and administration costs and other allocations and determine processes to reasonably assign such costs to the appropriate Business Units, if needed. (iii) ASC 852 Reorganizations Reporting: KPMG will support management with applying ASC 852, Reorganizations to Prospect and the Business Units, which is the U.S. GAAP (U.S. Generally Accepted Accounting Principles) accounting and reporting guidance and requirements for entities while in bankruptcy and at the time of emergence. (iv) Push Down Accounting: KPMG will assist the Debtors and the Business Units with the push down of 1) fresh-start reporting adjustments upon emergence and 2) purchase accounting adjustments to the general ledger information for the divestitures, as needed under the terms of any transition services agreement. (v) Preparation of Financial Statements: KPMG will assist management with its preparation of U.S. GAAP basis financial statements for the Debtors and/or the Business Units for specific periods. (vi) Technical Accounting: KPMG will assist management with technical accounting research and assessments associated with the bankruptcy and divestitures and support the preparation of accounting position papers, as needed. (vii) Supporting Accounting and Reporting Workpapers: KPMG will gather and prepare supporting workpapers and documentation for the Business Units' technical accounting, financial accounting, and reporting. The firm will be paid at these following rates: Partners $1,040 Managing Directors $960 Directors/Senior Managers $890 Managers $780 Senior Associates $625 Associates $455 In addition, the firm will seek reimbursement for expenses incurred. Salley Wong, a certified public accountant at KPMG, 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: Salley Wong KPMG LLP 550 South Hope Street, Suite 1500 Los Angeles, CA 9007 Telephone: (213) 972-4000 facsimile: (212) 622-1217 About Prospect Medical Holdings, Inc. Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80002) on Jan. 11, 2025. In the petition filed by Paul Rundell, chief restructuring officer, Prospect Medical estimated assets and liabilities between $1 billion and $10 billion each. Bankruptcy Judge Stacey G. Jernigan handles the cases. The Debtors' general bankruptcy counsel is Thomas R. Califano, Esq., and Rakhee V. Patel, Esq., at Sidley Austin LLP, in Dallas, Texas, and William E. Curtin, Esq., Patrick Venter, Esq., and Anne G. Wallice, Esq., at Sidley Austin LLP, in New York. The Debtors also tapped Alvarez & Marsal North America, LLC as financial advisor; Houlihan Likey, Inc. as investment banker; KPMG LLP as tax consulting advisor; and Omni Agent Solutions, Inc. as claims, noticing & solicitation agent. On Jan. 29, 2025, the Office of the United States Trustee for Region 6 appointed an official committee of unsecured creditor in these Chapter 11 cases. The committee tapped Brinkman Law Group, PC as efficiency counsel. PUERTO RICO: Oversight Board Rejects $20B New Fortress Deal ----------------------------------------------------------- Jim Wyss and Ruth Liao of Bloomberg News report that Puerto Rico's financial oversight board is rejecting a proposed $20 billion natural gas supply agreement, warning that it would effectively grant New Fortress Energy Inc. a near-monopoly over the island's energy sector. In a letter to Puerto Rico's energy chief, Josue Colon, the Financial Oversight and Management Board expressed "profound concerns" about the 15-year contract between Genera PR -- a New Fortress subsidiary that operates the island's power plants -- and another company unit responsible for delivering liquefied natural gas. About Puerto Rico Puerto Rico is a self-governing commonwealth in association with the United States. The chief of state is the President of the United States of America. The head of government is an elected Governor. There are two legislative chambers: the House of Representatives, 51 seats, and the Senate, 27 seats. The governor-elect is Ricardo Antonio "Ricky" Rossello Nevares, the son of former governor Pedro Rossello. In 2016, the U.S. Congress passed PROMESA, which, among other things, created the Financial Oversight and Management Board and imposed an automatic stay on creditor lawsuits against the government, which expired May 1, 2017. The members of the oversight board are: (i) Andrew G. Biggs, (ii) Jose B. Carrion III, (iii) Carlos M. Garcia, (iv) Arthur J. Gonzalez, (v) Jose R. Gonzalez, (vi) Ana. J. Matosantos, and (vii) David A. Skeel Jr. On May 3, 2017, the Commonwealth of Puerto Rico filed a petition for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act ("PROMESA"). The case is pending in the United States District Court for the District of Puerto Rico under case number 17-cv-01578. A copy of Puerto Rico's PROMESA petition is available at http://bankrupt.com/misc/1701578-00001.pdf On May 5, 2017, the Puerto Rico Sales Tax Financing Corporation (COFINA) commenced a case under Title III of PROMESA (D.P.R. Case No. 17-01599). Joint administration has been sought for the Title III cases. On May 21, 2017, two more agencies -- Employees Retirement System of the Government of the Commonwealth of Puerto Rico and Puerto Rico Highways and Transportation Authority (Case Nos. 17-01685 and 17-01686) -- commenced Title III cases. U.S. Chief Justice John Roberts named U.S. District Judge Laura Taylor Swain to preside over the Title III cases. The Oversight Board has hired as advisors, Proskauer Rose LLP and O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose LLP; and Hermann D. Bauer, Esq., at O'Neill & Borges LLC are onboard as attorneys. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains the case Web site https://cases.primeclerk.com/puertorico Jones Day is serving as counsel to certain ERS bondholders. Paul Weiss is counsel to the Ad Hoc Group of Puerto Rico General Obligation Bondholders. R & L HANDYMAN: Hearing to Use Cash Collateral Set for July 15 -------------------------------------------------------------- U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, is set to hold a hearing on July 15 to consider another extension of R & L Handyman, Inc.'s authority to use cash collateral. The Debtor's authority to utilize cash collateral pursuant to the court's July 1 and 2 orders expires on July 15. The court orders approved the payment of the Debtor's expenses from the cash collateral in accordance with the budget it filed with the court. The court orders also granted the Debtor's secured creditors, including Deere & Company, Mulligan Funding and Ford Credit a post-petition lien on cash collateral to the same extent and with the same validity and priority as their pre-bankruptcy liens. About R & L Handyman Inc. R & L Handyman, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 8:25-bk-03055-CPM) on May 9, 2025. In the petition signed by Elizabeth Perdue, vice president, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Catherine Peek McEwen oversees the case. Matthew J. Kovschak, Esq., at Sutton Law Firm, represents the Debtor as legal counsel. RCB ENTERPRISES: Seeks Subchapter V Bankruptcy in Michigan ---------------------------------------------------------- On July 9, 2025, RCB Enterprises Co. LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Michigan. 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 RCB Enterprises Co. LLC RCB Enterprises Co. LLC, doing business as Spoiler And Wing King, specializes in automotive accessories, particularly spoilers and wings for vehicles. RCB Enterprises Co. LLCsought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mich. Case No. 25-31477) on July 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 and estimated liabilities between $100,000 and $500,000. The Debtors are represented by George E. Jacobs, Esq. at Bankruptcy Law Offices. REDSTONE BUYER: S&P Downgrades ICR to 'CCC-' on Ongoing Cash Burn ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Redstone Buyer LLC (RSA) to 'CCC-' from 'CCC+', its issue-level rating on its revolving credit facility (RCF) and first-lien term loan to 'CCC-' from 'CCC+', and its issue-level rating on its second-lien term loan to 'C' from 'CCC-'. The negative outlook reflects S&P's expectation that RSA will continue to burn cash over the next 12 months due to its high cash interest burden and limited revenue growth. This will likely cause the company to rely on its RCF, which matures in April 2026. RSA has continued to generate significant negative free operating cash flow (FOCF), which S&P expects will persist in fiscal year 2026 (ending Jan. 30, 2026), largely due to its high interest burden. Therefore, S&P Global Ratings expects the company will need to draw on its revolving credit facility (RCF) maturing April 2026 to maintain sufficient cash to fund its operations this fiscal year. S&P said, "Although we expect RSA will maintain full access to its RCF until maturity, we believe it might be challenging for it to secure a maturity extension at a manageable interest rate margin, given its cash burn, high leverage, and limited deleveraging prospects. "We expect RSA will draw on its RCF in fiscal year 2026 to cover its high cash interest expense. The company has generated negative annual FOCF since fiscal year 2022, when it increased its debt balance as part of its recapitalization transaction. This reflects its continued elevated cash interest burden despite its debt reduction, using proceeds from the sale of its Archer business unit, in fiscal year 2024. Although we assume RSA's cash interest expense will decrease by about $20 million this fiscal year, we still expect it to generate negative reported FOCF of $50 million-$60 million this fiscal year. Given the company's $25.6 million cash balance as of May 2, 2025, we expect it will rely on its currently undrawn RCF during the fiscal year to fund its operations. We especially note the seasonality of RSA's net working capital flows, which are typically outflows in the first nine months of the fiscal year. At the same time, we expect the company will retain full access to its RCF without breaching its financial covenant until the facility matures in April 2026. "RSA's near-term revenue growth prospects remain uncertain, and we anticipate its leverage will likely increase following its sale of NetWitness. The company received relatively modest proceeds from its sale of NetWitness in March, which it retained on its balance sheet to fund its operations. Therefore, we expect RSA's S&P Global Ratings-adjusted leverage will increase to about 14.0x, from about 11.6x in fiscal year 2025, due to its slightly lower EBITDA base. We also expect the cost savings from management's prior restructuring actions will be largely offset by its product investments in fiscal year 2026. While the absence of the declining NetWitness business provides some stability to the company's revenue trajectory, we believe its ability to achieve sustained revenue growth remains uncertain over the near term. We expect RSA will experience a slight pro forma revenue decline in fiscal year 2026 due to its continued customer conversions to software-as-a-service (SaaS) subscriptions, as well as its lower sales capacity in the first half due to the go-to-market transformation in its SecurID business in fiscal year 2025. In addition to the company's ongoing cash burn, we believe its weak credit metrics could challenge its ability to secure future debt refinancings or extensions at manageable interest rate margins. "The negative outlook reflects our view that RSA will continue to burn cash over the next 12 months due to its high cash interest burden and limited revenue growth. This will likely lead the company to rely on its RCF, which matures in April 2026. In addition, we believe it might be difficult for RSA to extend the RCF at a manageable interest rate margin due to its very high leverage. "We could lower our ratings on RSA if its continued cash burn and elevated leverage lead us to believe it will face an almost certain risk of a liquidity event. We could also downgrade the company if it decides to undertake a debt exchange offer or other transaction that we would view as offering its lenders less than they were original promised." S&P could upgrade RSA if it believes the risk of a liquidity event over the next 12 months has considerably declined. This could occur if: -- The company significantly extends its RCF maturity without undertaking an amendment or exchange that S&P views as offering its lenders less than they were originally promised; -- It improves its liquidity position such that S&P believes it can absorb its ongoing negative FOCF without having to rely on its RCF maturing April 2026. This could stem from an equity capital infusion by its financial sponsors or an asset sale; or -- The company significantly reduces its cash burn after servicing its debt on a sustained basis. This could reflect a better-than-expected operating performance and a lower cash interest burden due to decreasing base interest rates or debt reductions. RETILE LLC: Seeks Chapter 11 Bankruptcy in Delaware --------------------------------------------------- On July 8, 2025, Retile LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. 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 Retile LLC Retile LLC is a specialty tile and stone importer and retailer that sources and distributes ceramic tiles, natural stone products, and related materials from international suppliers. Retile LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11299) on July 8, 2025. In its petition, the Debtor reports estimated assets and liabilities up to $50,000 each . The Debtors are represented by Matthew B. Harvey, Esq. at Morris Nichols Arsht & Tunnell, LLP. RIVER FALL: Seeks to Hire OPAC Group as Broker ---------------------------------------------- River Fall 529 LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ OPAC Group as broker. The firm will provide real estate services in relation to the Debtor's real property located at 529 Eastern Avenue in Fall River Massachusetts, including these services: a. expose the Property for sale, refinancing, or investment; b. cooperate with prospective buyers and buyers' agents on behalf of the Debtor; c. conduct private showings of the Property; d. solicit offers to refinance the Stage Point Loan; e. solicit offers to invest in the Property and/or the Debtor; f. solicit offers for the purchase of the Property. The firm will be paid at these rates: a. Upon the closing of a sale of the Property to a buyer, the Debtor shall pay to the Broker a commission equal to four percent (4.0%) of the purchase price of the Property. The Sale Commission shall be increased to an amount equal to five percent (5%) of the purchase price of the Property if the purchase price is paid in cash at the closing of the Sale. The Sale Commission shall constitute Broker's full compensation for services rendered in connection with a Sale and such Commission to be split between Broker and any broker of buyer as separately agreed. b. Upon the closing of a refinancing of the Loan or other investment in the Property or the Debtor, the Debtor shall pay to the Broker a commission equal to two percent (2.0%) of the purchase price of the Property. No such commission shall be due from the Debtor, if Broker receives a fee from the lender or investor in the refinancing or if the lender or investor is a partner of Debtor or one of the Debtor's affiliates. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Judy Cazeau OPAC Group 160 Alewife Brook Pkwy Suite #1269 Cambridge, MA 02138 Tel: (617) 669-2073 Email: judy@theopacgroup.com About River Fall 529 LLC River Fall 529 LLC is a single-purpose real-estate company that owns the 529 Eastern Avenue property in Fall River, Massachusetts. River Fall 529 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-10810) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Christopher M. Condon, Esq. at BOWDITCH & DEWEY LLP. ROGUE SMOOTHIES: Gets OK to Use $79K in Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the District of Oregon issued an interim order authorizing Rogue Smoothies, Inc. to use up to $79,066 in cash collateral from June 25 through July 31 to fund necessary operating expenses. The Debtor identifies United Community Bank as a secured creditor via a 2022 blanket UCC-1 filing. No other lienholders are known. The interim order granted United Community Bank replacement liens on post-petition property with the same priority as pre-petition liens. A final hearing is set for July 29. About Rogue Smoothies Inc. Rogue Smoothies Inc., d/b/a Auntie Anne's and Jamba Juice, operates franchise locations of Jamba and Auntie Anne's in Medford, Oregon. The Company provides smoothies, juices, fruit bowls, and baked pretzel products through its retail outlets. Rogue Smoothies Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Or. Case No. 25-61778) on June 25, 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 Thomas M. Renn handles the case. The Debtors are represented by Keith Y Boyd, Esq. at KEITH Y. BOYD, PC. S&G HOSPITALITY: Seeks Cash Collateral Access Until Sept. 30 ------------------------------------------------------------ S&G Hospitality, Inc. and affiliates ask the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, for authority to use cash collateral and provide adequate protection, through September 30. RSS COMM2015-PC1-OH BL, LLC holds liens on the Debtors' assets. The Debtors operate hotels in Central Ohio under national franchise brands, including the Quality Inn & Suites, Red Roof Inn Plus, and Hampton Inn. Since the bankruptcy filing on August 18, 2023, the Debtors have received multiple court-approved extensions to use cash collateral under negotiated agreements with RSS. Previous stipulations extended use through July 31, 2025. However, due to delays and disputes in the most recent negotiations—especially concerning payments to other junior creditors like the Small Business Administration (SBA) and Itria Ventures—the Debtors now seek a longer-term resolution. Under the Proposed Extension Order, RSS will continue to receive monthly cash payments of $90,000 as adequate protection. However, the Debtors propose to eliminate monthly cash payments to the SBA and Itria, addressing RSS’s objection that junior creditors should not be paid from its collateral. Nonetheless, SBA and Itria will retain superpriority claims and replacement liens in case they are later determined to have valid interests in the collateral. The Debtors argue that their operations remain profitable and that the proposed protections satisfy the standards under 11 U.S.C. Sections 361 and 363. Additional adjustments in the proposed order include the continued use of existing U.S. Bank accounts (rather than switching to Wells Fargo, as originally planned) and the creation of a segregated account for utility assurance deposits. A copy of the motion is available at https://urlcurt.com/u?l=uqExd6 from PacerMonitor.com. About S&G Hospitality Inc. S&G Hospitality, Inc. operates in the traveler accommodation industry. S&G Hospitality filed Chapter 11 petition (Bankr. S.D. Ohio Case No. 23-52859) on August 18, 2023, listing up to $10 million in assets and up to $1 million in liabilities. Abijit Vasani, president of S&G Hospitality, signed the petition. Judge Mina Nami Khorrami oversees the case. The Debtor is represented by David Alan Beck, Esq. at Carpenter Lipps & Leland LLP. RSS COMM2015-PC1 – OH BL, LLC, as lender, is represented by: Tami Hart Kirby, Esq. Porter Wright Morris & Arthur LLP One South Main Street, Suite 1600 Dayton, OH 45402-2028 Telephone: (937) 449-6721 Facsimile: (937) 449-6820 Email: tkirby@porterwright.com SAKS GLOBAL: S&P Cuts ICR to 'CC' on Proposed Debt Restructuring ---------------------------------------------------------------- S&P Global Ratings lowereditsr issuer credit rating on luxury retailer Saks Global Enterprises LLC to 'CC' from 'CCC+' and removed all its ratings on the company from CreditWatch, where S&P placed them with negative implications on May 13, 2025. At the same time, we lowered our issue-level-rating on the company's notes to 'CC' from 'B'. The negative outlook reflects that, upon the completion of the transaction, we expect to lower our issuer credit rating and issue-level ratings on Saks to 'SD' (selective default) or 'D' (default). Saks Global has announced a new $600 million financing package, which includes a debt exchange and the re-tiering of its outstanding senior secured notes. S&P Global Ratings views the planned exchange of its notes at a discount to par as tantamount to a default. The downgrade reflects S&P's view that the proposed financing transaction is tantamount to a default. On June 27, 2025, Saks Global announced it had secured $600 million of committed financing from a group of its existing bondholders. The transaction includes a $400 million first-in, last out (FILO) asset-based credit facility and additional commitments of $200 million subject to certain conditions. In addition, $100 million of the new FILO facility will comprise an exchange of its senior secured notes. The noteholders will receive less value than they were initially promised and will rank lower in terms of priority than the new money notes following the completion of the transaction. A disruption in Saks' inventory flow has led to a pronounced deterioration in its operating performance and liquidity challenges. Overdue payments, borrowing base constraints, and seasonal inventory building led to a decline in the availability under the company's $1.8 billion asset-based lending (ABL) facility to $415 million as of Feb. 1, 2025. In addition, Saks reported a free operating cash flow (FOCF) deficit of $517 million in 2024. S&P said, "We believe the company's market position will weaken as competitors with greater financial capacity expand their business operations. Management has focused on negotiating longer terms with its main vendors and addressing overdue payments to improve its working capital management. We forecast the company will report negative FOCF over the next two years and continue to heavily rely on its ABL facility." While Saks has real estate assets worth over $4 billion on a net basis, it has been unable to monetize them in a timely manner to meet its financial commitments. S&P said, "The negative outlook reflects that, upon the completion of the transaction, we expect to lower our issuer credit rating and issue-level ratings on Saks to 'SD' or 'D'. "We will lower our issuer credit rating and issue-level ratings on Saks Global to 'SD' or 'D' if it completes the proposed transaction, which includes the re-tiering of its capital structure and a below-par exchange of its senior secured notes. "We could raise our rating on Saks Global, likely to the 'CCC' category, if it does not consummate the proposed transaction. Under this scenario, our rating would reflect the potential for other restructuring initiatives to address its constrained liquidity." SCANROCK OIL: Ch. 11 Plan Disclosure Delayed Over Improper Notice ----------------------------------------------------------------- Emlyn Cameron of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge agreed on Wednesday, July 9, 2025, to delay ruling on the approval of Scanrock Oil & Gas' amended Chapter 11 plan disclosure, after the company said the postponement would help address concerns over the notice period. 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. SCHULTE INC: Seeks Cash Collateral Access ----------------------------------------- Schulte, Inc. asks the U.S. Bankruptcy Court for the District of New Hampshire for authority to use up to $154,837 of cash collateral during the period from August 1 to October 31, 2025 to fund essential post-petition operations and make adequate protection payments to secured creditors, all in accordance with a court-approved budget. The funds would be used for routine operating expenses, partial payments to Debtor's legal counsel, taxes, and adequate protection payments as required under previously approved court orders. Use of the funds will be strictly limited to the budgeted items. The Debtor projects it will begin the Use Term with $173,633 in cash. Over the course of the period, it expects to receive $160,664 in additional inflows and incur $134,338 in outflows, resulting in a net cash gain of $26,326 and an ending balance of $179,460. Adequate protection will be maintained through monthly payments to the U.S. Small Business Administration and other secured creditors. The Debtor also maintains property and casualty insurance covering all secured assets, naming lienholders as loss payees, and secured creditors will receive replacement liens on post-petition property. Other creditors with valid, perfected security interests in specific equipment, which include Caterpillar Financial Services Corporation, First Citizens Bank & Trust., Mitsubishi HC Capital America, Inc., Volvo Financial Services, and Wells Fargo. A hearing on the matter is set for July 23. A copy of the motion is available at https://urlcurt.com/u?l=rxc2bV from PacerMonitor.com. About Schulte Inc. Schulte Inc., a company in Newton, N.H., filed its voluntary Chapter 11 petition (Bankr. D.N.H. Case No. 24-10225) on April 8, 2024, with $1 million to $10 million in both assets and liabilities. Judge Bruce A. Harwood oversees the case. The Debtor is represented by William S. Gannon, Esq. atWilliam S. Gannon, PLLC. SHILO INN IDAHO FALLS: Gets Extension to Access Cash Collateral --------------------------------------------------------------- Shilo Inn, Idaho Falls, LLC received another extension from the U.S. Bankruptcy Court for the Western District of Washington to use cash collateral. The court's 17th interim order authorized the Debtor to use cash collateral to pay the expenses set forth in its budget for the interim period until its interim order ceases to be in full force and effect or until the occurrence of the so-called termination event. The Debtor must adhere to the budget, with limited flexibility for minor variances (up to 10% per line item or 110% of total monthly expenses). RSS CGCMT 2017P7-ID SIIF, LLC, a secured creditor, will be granted a first priority post-petition security interest in and lien on all of the Debtor's assets to the same priority, validity and extent as its pre-bankruptcy security interest and lien. As additional protection, RSS will continue to receive a monthly payment of $26,837.08. The next hearing is scheduled for August 28. A copy of the Debtor's budget is available at https://shorturl.at/rLAJu from PacerMonitor.com. About Shilo Inn, Idaho Falls Shilo Inn, Idaho Falls, LLC filed Chapter 11 petition (Bankr. W.D. Wash. Case No. 20-42489) on November 2, 2020. At the time of filing, Shilo Inn, Idaho Falls disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Brian D. Lynch oversees the case. Levene, Neale, Bender, Yoo & Brill L.L.P. and Stoel Rives LLP serve as counsel to Shilo Inn, Idaho Falls. Shilo Inn, Idaho Falls' case is not jointly administered with those of Shilo Inn, Ocean Shores, LLC, and Shilo Inn, Nampa Suites, LLC, both of which sought Chapter 11 protection (Bankr. W.D. Wash. Lead Case No. 20-42348) on October 15, 2020. Ocean Shores and Nampa Suites' cases are jointly administered. RSS CGCMT 2017P7-ID SIIF, LLC, as secured creditor, is represented by: James B. Zack, Esq. Lane Powell PC 1420 Fifth Avenue, Suite 4200 Seattle, WA 98101 Telephone: (206) 223-7000 Facsimile: (206) 223-7107 ZackJ@lanepowell.com Docketing@LanePowell.com SOUTH BROADWAY: Trustee Files Liquidating Plan ---------------------------------------------- Allan B. Mendelsohn, the court-appointed operating trustee (the "Trustee"), filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement describing Plan of Liquidation for South Broadway Realty Enterprise, Inc. dated June 20, 2025. The Debtor is a real estate investment company formed in or around December of 2014 and its business involves the purchase, ownership and management of commercial tenancies at the Real Property. The Trustee's Plan is a liquidating plan with the centerpiece being the sale of the Debtor's real property located in the County of Nassau, State of New York, known by the street address of 640 654 South Broadway, Hicksville, New York 11801, and formally described on the tax and land maps of the County of Nassau as Section 46, Block 510, Lots 26C, 26D and 44 (the "Real Property"). To that end, the Trustee has negotiated a sale of the Real Property and has filed an application with the Bankruptcy Court to authorize a private sale to Avnish Kumar and Sandeep Bajaj, or their designee to be named later, for the purchase price of $2,900,000.00. The Real Property is encumbered by, among other liens, two mortgages held by Dime Community Bank, successor by merger to the Bridgehampton National Bank and Community National Bank and the SBA loan. Dime has reached a consensual resolution with the Trustee allowing for the sale of the Real Property from which it shall receive an amount not less than $2,371,973.33. The sale of the Real Property shall be pursuant to section 363 of the Bankruptcy Code and shall be free and clear of all liens, claims and encumbrances (the "Liens") with the Liens attaching to the proceeds of the sale to the same manner, extent and priority that the said Liens existed on the Petition Date. The sale is subject to the existing tenancies. Class 6 consists of the General Unsecured Claim of U.S. Small Business Administration. The allowed unsecured claims total $66,125.64. The Plan provides for the payment of the U.S. Small Business Administration's claim (the "SBA"). On December 26, 2023, the SBA filed Claim Number 1 on the Court's Claims Register in the amount of $63,348.08. The Debtor was a guarantor under the SBA's loan to P & F. While the SBA filed the claim as a "secured claim" the SBA is perfected only in the personally held by the Debtor. As the Debtor's sole asset is the Real Property, this claim shall be treated as a general unsecured claim and shall only receive a distribution accordingly. Class 6 is impaired and entitled to vote. The Plan provides that the pre-petition Equity Interests in the Debtor shall be extinguished as the Debtor is being liquidated and shall not exist upon confirmation. Equity Interests shall be deemed to have rejected the Plan and are not entitled to vote. The Plan shall be funded by a combination of: (i) the Sale Proceeds; and (ii) the amounts currently held by the Trustee which were turned over by the Debtor upon the appointment of the Operating Trustee. A full-text copy of the Disclosure Statement dated June 20, 2025 is available at https://urlcurt.com/u?l=YtkYiB from PacerMonitor.com at no charge. Attorneys for the Operating Trustee: The Kantrow Law Group, PLLC Fred S. Kantrow, Esq. 732 Smithtown Bypass, Suite 101 Smithtown, New York 11787 Phone: 516 703 3672 Email: fkantrow@thekantrowlawgroup.com About South Broadway Realty Enterprise Inc. South Broadway owns a commercial building located at 640 South Broadway Hicksville, New York 11801 valued at $2.5 million. South Broadway Realty Enterprise, Inc. in Hicksville, NY, filed its voluntary petition for Chapter 11 protection (Bankr. E.D.N.Y. Case No. 23-74237) on November 13, 2023, listing $2,500,013 in assets and $2,080,067 in liabilities. Francesco Guerrieri as president, signed the petition. Judge Alan S. Trust oversees the case. The LAW OFFICES OF AVRUM J. ROSEN, PLLC serves as the Debtor's legal counsel. SUNNOVA ENERGY: Hires Alvarez & Marsal as Restructuring Advisor --------------------------------------------------------------- Sunnova Energy International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Alvarez & Marsal North America LLC as restructuring advisor. The firm will provide Ryan Omohundro as chief restructuring officer (CRO) and certain additional personnel to the Debtors. The CRO and additional personnel will render these services: (a) assist in assessing and supporting the Debtors' treasury team in support of their near-term cash management efforts; (b) assist the Debtors related to the due diligence effort inherent to the liability management and restructuring process; (c) assist the Debtors and their advisors in contingency planning efforts as part of their overall liability management and restructuring mandate; (d) assist Debtors in the preparation of financial-related disclosures required by the court; (e) assist the Debtors with information and analyses required pursuant to the Debtors' debtor-in-possession ("DIP") financing; (f) assist related to implementation of potential asset sales; (g) assist in connection with the development and implementation of key employee compensation and other critical employee benefit programs; (h) assist the Debtors with vendor management and negotiation of payment terms; (i) assist the Debtors' management team and counsel focused on the coordination of resources related to the ongoing reorganization effort; (j) assist the preparation of financial information for distribution to creditors and others; (k) attend at meetings and assistance in discussions with potential investors, banks, and other lenders, any official committee(s) appointed in these Chapter 11 cases, the United States Trustee, other parties in interest and professionals hired by same, as requested; (l) analyze creditor claims by type, entity, and individual claim, including assistance with development of databases, as necessary, to track such claims; (m) assist in the preparation of information and analysis necessary for the confirmation of a plan of reorganization in these Chapter 11 cases; (n) assist in the evaluation and analysis of avoidance actions; (o) assist in the analysis/preparation of information necessary to assess the tax attributes related to the confirmation of a plan of reorganization in these Chapter 11 cases; (p) litigate advisory services with respect to accounting and tax matters, along with expert witness testimony on case related issues as required by the Debtors; (q) report to the Board; (r) perform such other services as requested or directed by the Board or other Debtors' personnel as authorized by the Board, and agreed to by the firm that is not duplicative of work others are performing for them. The firm will be paid at these hourly rates: Managing Director (including the CRO) $1,100 - $1,575 Director $850 - $1,100 Associates $625 - $825 Analysts $450 - $600 In addition, the firm will seek reimbursement for expenses incurred. The firm will be entitled to incentive compensation in the amount of $4,000,000. The firm received a retainer in the total amount of $500,000 from the Debtors. Mr. Omohundro disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan Omohundro Alvarez & Marsal North America, LLC 600 Madison Avenue, 8th Floor New York, NY 10022 About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, Sunnova Energy reports estimated assets and liabilities between $10 billion and $50 billion each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; Kobre & Kim LLP as special counsel; Alvarez & Marsal North America LLC as restructuring advisor; and Province LLC as financial advisor. SUNNOVA ENERGY: Hires Moelis & Company LLC as Investment Banker --------------------------------------------------------------- Sunnova Energy International Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Moelis & Company LLC as investment banker. The firm will provide these services: a. assist the Company in conducting a business and financial analysis of the Company; b. assist the Company in identifying and evaluating potential counterparties for a Sale Transaction (each, a "Counterparty"); c. assist the Company in identifying and contacting prospective purchasers of the Capital Transaction (each, a "Purchaser"); d. assist the Company in preparing a marketing plan and information materials describing the Company (the "Information Presentation"), which Moelis may distribute to potential Counterparties and/or Purchasers on a confidential basis; e. assist the Company in contacting potential Counterparties, arranging meetings with such Counterparties and coordinating the due diligence investigation of the Company by such Counterparties, in each case as appropriate and acceptable to the Company; f. assist the Company in reviewing and analyzing any potential Restructuring, Sale Transaction, or Capital Transaction; g. assist the Company in structuring and negotiating any Restructuring or Sale Transactions; h. assist the Company with respect to the strategy and tactics of negotiations with such prospective Purchasers and participate in such negotiations; i. provide guidance to the Company around the timing, structure and pricing of the Capital Transaction; j. meet with the Company and its Board of Directors to discuss the proposed Transaction and its financial implications; and k. provide such other financial advisory and investment banking services in connection with a Restructuring, Sale Transaction or Capital Transaction as Moelis and the Company may mutually agree upon in writing. The firm will be paid at these rates: i. Monthly Fee. During the term of the Engagement Letter, a fee of $250,000 per month (the "Monthly Fee"), payable in advance of each month. The Debtors paid the first Monthly Fee immediately upon execution of the Engagement Letter, and all subsequent Monthly Fees are payable prior to each monthly anniversary of the Effective Date of the Engagement Letter. 50% of the Monthly Fees for the fourth month through the ninth month following the Effective Date shall be offset, to the extent previously paid, against any Transaction Fee (as defined below). ii. Restructuring Fees. a. At the closing of an out-of-court Restructuring, a fee (the "Out-of-Court Restructuring Fee"), equal to the sum of (1) 0.68% of the aggregate gross amount or face value of debt liabilities restructured up to and including $500,000,000, plus (2) 0.44% of the aggregate gross amount or face value of debt liabilities restructured in excess of $500,000,000 up to and including $1,500,000,000; plus (3) 0.27% of the aggregate gross amount or face value of debt liabilities restructured in excess of $1,500,000,000. The Debtors will pay a separate Out-of-Court Restructuring Fee in respect of each Restructuring in the event that more than one Restructuring occurs. The Out-of-Court Restructuring Fee will be aggregated based upon the total gross amount or face value of debt liabilities restructured on an out-of-court basis, and the minimum aggregate Out-of-Court Restructuring Fee payable to Moelis will be $4,000,000, payable at the closing of the first such Out-of-Court Restructuring. b. At the closing of a Restructuring in connection with a Bankruptcy Case, a fee of $14,500,000 (the "In-Court Restructuring Fee"). If an In-Court Restructuring commences within 6 months of the closing of the last Out of-Court Restructuring for which Moelis is paid an Out-of-Court Restructuring Fee, Moelis shall credit 50% of any aggregate Out-of Court Restructuring Fee(s) paid to Moelis against the In-Court Restructuring Fee earned and payable to Moelis in connection with such In-Court Restructuring, provided, however, such credit shall not reduce the In-Court Restructuring Fee to less than $10,000,000. iii. Company Sale Transaction Fee. a. At the closing of a Company Sale Transaction, a fee (the "Company Sale Transaction Fee") equal to the greater of (A) $14,500,000 and (B) 2.0% of the Transaction Value. In the event of a Transaction in which both an In-Court Restructuring Fee and a Company Sale Transaction Fee become payable, the applicable Transaction Fee shall be the greater of such In-Court Restructuring Fee and such Company Sale Transaction Fee (and, for the avoidance of doubt, not both). iv. Discrete Asset Sale Transaction Fee. a. At the closing of a Discrete Asset Sale Transaction, a fee (the "Discrete Asset Sale Transaction Fee"), equal to: i. in the event of a Discrete Asset Sale Transaction in which the Transaction Value is greater than $50,000,000, an amount equal to the sum of (1) $2,000,000, plus (2) 3.5% for the portion of Transaction Value in excess of $50,000,000 up to and including $100,000,000; plus (3) 2.5% for the portion of the Transaction Value in excess of $100,000,000; and ii. in the event of a Discrete Asset Sale Transaction in which the Transaction Value is less than or equal to $50,000,000, an amount equal to 4.0% of the Transaction Value. b. The Company will pay a separate Discrete Asset Sale Transaction Fee in the event that more than one Discrete Asset Sale Transaction occurs. In the event that one or more Discrete Asset Sale Transaction occurs followed by an In-Court Restructuring, Moelis shall earn and be paid both the Discrete Asset Sale Transaction Fee(s) and the In-Court Restructuring Fee, provided however, that 50% of the lesser of (a) the aggregate Discrete Asset Sale Transaction Fees and (b) the In-Court Restructuring Fees earned by Moelis, shall be credited against the greater of these two Transaction Fees. v. Capital Transaction Fees. a. At the closing of an out-of-court Capital Transaction, a fee (the "Out-of-Court Capital Transaction Fee") equal to an amount determined in accordance with the following: i. 2.70% of the aggregate gross amount or face value of capital Raised as equity, equity-linked interests (including convertible debt), options, warrants or other rights to acquire equity interests (including rights offerings); plus ii. 1.69% of the aggregate gross amount of unsecured debt obligations Raised; plus iii. 0.84% of the aggregate gross amount of secured debt obligations Raised. The minimum aggregate Out-of-Court Transaction Fee payable to Moelis will be $1,687,500, payable at the closing of the first such Out-of-Court Capital Transaction, and shall include in its calculation any Capital Transaction Fee paid to Moelis pursuant to its prior engagement letter dated May 6, 2024. b. At the closing of a Capital Transaction in connection with a Bankruptcy Case, a fee (the "In-Court Capital Transaction Fee"), equal to an amount determined in accordance with the following: i. 4.00% of the aggregate gross amount or face value of capital Raised as equity, equity-linked interests (including convertible debt), options, warrants or other rights to acquire equity interests (including rights offerings); plus ii. 2.50% of the aggregate gross amount of unsecured debt obligations Raised; plus iii. 1.25% of the aggregate gross amount of secured debt obligations Raised (including debtor-in-possession financing). c. The Company will pay a separate Out-of-Court Capital Transaction Fee or In-Court Capital Transaction Fee in respect of each Out-of-Court Capital Transaction or In-Court Capital Transaction, as applicable, in the event that more than one of such transactions occurs; provided however, in the event that one or more Out-of-Court Capital Transactions occur for which Moelis has been paid, and such capital Raised in connection with such Out-of-Court Capital Transaction(s) is then subsequently rolled into an In-Court Capital Transaction provided by the same lenders (the "Rolled Debt"), Moelis shall not earn an In Court Capital Transaction Fee on such Rolled Debt portion of the capital Raised in the In-Court Capital Transaction. d. Any Capital Transaction Fee shall be payable upon the closing of such Capital Transaction; provided that in the event of a DIP Financing (whether on a standalone basis or convertible into an exit facility), the Capital Transaction Fee in connection with such DIP Financing shall be earned upon the earlier of (a) the execution of a commitment letter or other document committing the lenders to providing such DIP Financing or (b) the closing of such DIP Financing (regardless of draw or funding schedule) and, in either case, payable in full upon the closing of such DIP Financing, and in each case subject to the immediately preceding paragraph. The firm paid an advance retainer in the amount of $25,000. Mr. Latif 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: Bassam J. Latif Moelis & Company LLC Two Allen Center, 1200 Smith Street, Suite 1900 Houston, TX 77002 Tel: (713) 343-6422 Email: bassam.latif@moelis.com About Sunnova Energy International Inc. Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, the Debto reports estimated assets and liabilities between $10 billion and $50 billion each. The Debtor is represented by Jason Gary Cohen, Esq. at Bracewell, LLP. SUNNOVA ENERGY: Receives $7MM Offer for Service Division -------------------------------------------------------- Randi Love of Bloomberg Law reports that bankrupt solar panel installer Sunnova Energy International Inc. has secured a $7 million lead bid from Omnidian Inc. for its management and servicing division. The stalking horse offer from Omnidian -- known for providing solar performance guarantees -- covers intellectual property, physical assets, inventory, and supplies tied to the business unit, according to a Tuesday, July 8, 2025, filing in the U.S. Bankruptcy Court for the Southern District of Texas. This bid is separate from another stalking horse offer comprising a $90 million credit bid tied to Sunnova's bankruptcy financing and an additional $10 million in cash for the company's equity and remaining assets, the report states. About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, the Debto reports estimated assets and liabilities between $10 billion and $50 billion each. The Debtor is represented by Jason Gary Cohen, Esq. at Bracewell, LLP. SUNNOVA ENERGY: Seeks Approval to Tap Province as Financial Advisor ------------------------------------------------------------------- Sunnova Energy International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Province LLC as financial advisor to the special committee of Sunnova Energy's board of directors. The firm will render these services: (a) become familiar with and analyze the Debtors' assets and liabilities, and overall financial condition and liquidity during the case; (b) review financial and operational information furnished by the Debtors; (c) review other operational data and agreements related to the interaction of the Debtors with related parties or in connection with a transaction; (d) analyze the Debtors' proposed business plans; (e) prepare or review, as applicable, avoidance action and claim analyses; (f) advise the special committee in negotiations with the case constituents and third parties as necessary; (g) if necessary, participate as a witness in hearings before the Bankruptcy Court with respect to matters upon which Province has provided advice; and (h) other activities as directed by the special committee and as agreed to by Province. The firm will be paid at these hourly rates: Managing Directors and Partners $850 - $1,450 Vice Presidents, Directors, and Senior Directors $700 - $1,050 Analysts, Associates, and Senior Associates $350 - $825 Other/Para-professional $270 - $450 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $300,000 from the Debtors. Daniel Moses, a partner at Province, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel Moses Province, LLC 2360 Corporate Cir., Ste. 340 Henderson, NV 89074 About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, Sunnova Energy reports estimated assets and liabilities between $10 billion and $50 billion each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; Kobre & Kim LLP as special counsel; Alvarez & Marsal North America LLC as restructuring advisor; and Province LLC as financial advisor. SUNNOVA ENERGY: Seeks to Hire Kirkland & Ellis as Legal Counsel --------------------------------------------------------------- Sunnova Energy International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel. The firm will provide these services: (a) advise the Debtors with respect to their powers and duties in the continued management and operation of their businesses and properties; (b) advise and consult on the conduct of these Chapter 11 cases; (c) attend meetings and negotiate with representatives of creditors and other parties in interest; (d) take all necessary actions to protect and preserve the Debtors' estates; (e) prepare pleadings in connection with these Chapter 11 cases; (f) represent the Debtors in connection with obtaining authority to continue using cash collateral and postpetition financing; (g) advise the Debtors in connection with any potential sale of assets; (h) appear before the court and any appellate courts to represent the interests of the Debtors' estates; (i) advise the Debtors regarding tax matters; (j) take any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a Chapter 11 plan and all documents related thereto; and (k) perform all other necessary legal services for the Debtors in connection with the prosecution of these Chapter 11 cases. The firm will be paid at these hourly rates: Partners $1,295 - $2,675 Of Counsel $875 - $2,245 Associates $785 - $1,625 Paraprofessionals $355 - $705 The firm received a retainer of $1,000,000 from the Debtor. Anup Sathy, Esq., a partner at Kirkland & Ellis, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did Kirkland agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Kirkland and the Debtors have not agreed to any variations from, or alternatives to, Kirkland's standard billing arrangements for this engagement. The rate structure provided by Kirkland is appropriate and is not significantly different from (a) the rates that Kirkland charges for other non-bankruptcy representations or (b) the rates of other comparably skilled professionals. Question: Do any of Kirkland's professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. The hourly rates used by Kirkland in representing the Debtors are consistent with the rates that Bracewell charges other comparable Chapter 11 clients, regardless of the location of the Chapter 11 case. Question: If Kirkland represented the client in the 12 months prepetition, disclose Kirkland's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If its billing rates and material financial terms have changed postpetition, explain the difference and reasons for the difference. Answer: Kirkland's current hourly rates for services rendered on behalf of the Debtors range as follows: Billing Category U.S. Range Partners $1,295 - $2,675 Of Counsel $875 - $2,245 Associates $785 - $1,625 Paraprofessionals $355 - $705 Kirkland represented the Debtors during the eight-month period or from April 15, 2024, to December 31, 2024 before the Petition Date, using the hourly rates listed below: Billing Category U.S. Range Partners $1,195 - $2,465 Of Counsel $820 - $2,245 Associates $745 - $1,495 Paraprofessionals $325 - $625 Question: Have the Debtors approved Kirkland's prospective budget and staffing plan, and, if so, for what budget period? Answer: Yes, more specifically, pursuant to the Interim DIP Order, professionals proposed to be retained by the Debtors are required to provide weekly estimates of fees and expenses incurred in these Chapter 11 cases. Mr. Sathy 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: Anup Sathy, Esq. Kirkland & Ellis LLP Kirkland & Ellis International LLP 333 West Wolf Point Plaza Chicago, IL 60654 Telephone: (312) 862-2000 Facsimile: (312) 862-2200 Email: anup.sathy@kirkland.com About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, Sunnova Energy reports estimated assets and liabilities between $10 billion and $50 billion each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; Kobre & Kim LLP as special counsel; Alvarez & Marsal North America LLC as restructuring advisor; and Province LLC as financial advisor. SUNNOVA ENERGY: Seeks to Hire Kobre & Kim as Special Counsel ------------------------------------------------------------ Sunnova Energy International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Kobre & Kim LLP as special counsel to the special committee of Sunnova Energy's board of directors. The firm will investigate on its behalf into certain prior transactions and other matters involving the Debtors. The firm will be paid at these hourly rates: Founding Partner $2,750 Senior Parter $2,250 Partner/Senior Counsel $1,975 Special Counsel $1,500 Counsel/Principal $1,450 Associate/Attorney $1,200 Specialist $875 Analyst $585 Litigation Assistant $450 In addition, the firm will seek reimbursement for expenses incurred. Daniel Saval, a partner at Kobre & Kim, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel J. Saval, Esq. Kobre & Kim LLP 800 3rd Ave., Ste. 6 New York, NY 10022 Telephone: (212) 488-1200 About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, Sunnova Energy reports estimated assets and liabilities between $10 billion and $50 billion each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; Kobre & Kim LLP as special counsel; Alvarez & Marsal North America LLC as restructuring advisor; and Province LLC as financial advisor. SUNNOVA ENERGY: Taps Bracewell as Co-Counsel and Conflicts Counsel ------------------------------------------------------------------ Sunnova Energy International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Bracewell LLP as co-counsel and conflicts counsel. The firm will render these services: (a) provide legal advice and services regarding local rules, practices, and procedures; (b) provide certain services in connection with administration of these Chapter 11 cases; (c) review and comment on proposed drafts of pleadings to be filed with the court; (d) provide legal advice with respect to the Debtors' rights and duties and continued business operations; (e) assist, advise and represent the Debtors in any cash collateral and/or postpetition financing transactions; (f) assist, advise, and represent the Debtors in any manner relevant to preserving and protecting its estates; (g) prepare on behalf of the Debtors all necessary legal papers; (h) appear in Court to protect the Debtors' interests before the Court; (i) at the request of the Debtors, appear at any meeting with the U.S. Trustee and any meeting of creditors at any given time on behalf of the Debtors as their bankruptcy co-counsel; and (j) provide other legal advice and services, as requested by the Debtors, from time to time. The firm's counsel and staff will be paid at these hourly rates: Partners $950 - $1,875 Associates, Counsel and Senior Counsel $750 - $1,275 Paraprofessionals $350 - $500 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $223,635 from the Debtor. Jason Cohen, Esq., a partner at Bracewell, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did Bracewell agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Bracewell and the Debtors have not agreed to any variations from, or alternatives to, Bracewell's standard billing arrangements for this engagement. The rate structure provided by Bracewell is appropriate and is not significantly different from (a) the rates that Bracewell charges for other non-bankruptcy representations or (b) the rates of other comparably skilled professionals. Question: Do any of Bracewell's professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. The hourly rates used by Bracewell in representing the Debtors are consistent with the rates that Bracewell charges other comparable Chapter 11 clients, regardless of the location of the Chapter 11 case. Question: If Bracewell represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and reasons for the difference. Answer: Bracewell's hourly rates in connection with representation of the Debtors from November 1, 2024, to the petition date are as follows: Timekeeper Category Range of Rates ($/hr) Partners $950 - $1,875 Associates, Counsel and Senior Counsel $750 - $1,275 Paraprofessionals $350 - $500 Question: Have the Debtors approved Bracewell's prospective budget and staffing plan, and, if so, for what budget period? Answer: Bracewell has not been required to submit a budget and staffing plan as of this date. Mr. Cohen 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: Jason G. Cohen, Esq. Bracewell LLP 711 Louisiana Street, Suite 2300 Houston, TX 77002 Telephone: (713) 223-2300 Facsimile: (800) 404-3970 Email: jason.cohen@bracewell.com About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, Sunnova Energy reports estimated assets and liabilities between $10 billion and $50 billion each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel; Kobre & Kim LLP as special counsel; Alvarez & Marsal North America LLC as restructuring advisor; and Province LLC as financial advisor. SURVWEST LLC: Gets Final OK to Use Cash Collateral Until Oct. 5 --------------------------------------------------------------- Ken Yager, the Chapter 11 trustee for SurvWest LLC, received final approval from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral. The final order authorized the trustee to utilize cash collateral through October 5 in accordance with his agreement with TBK Bank and the U.S. Small Business Administration. To protect the lenders' interests, SurvWest was ordered to make monthly payments to the lenders in accordance with its budget, with a 10% variance. The lenders were also granted security interests in SurvWest's deposit accounts in the same order of priority as the lenders' security interests as of the petition date, and in all property which SurvWest or its estate had as of, or may acquire after, the petition date. To the extent this protection is insufficient to compensate for any diminution in the value of their interests in the cash collateral, the lenders will be entitled to superpriority administrative expense claims. About SurvWest LLC SurvWest LLC, formerly known as SurvTech Solutions LLC, is a diversified engineering firm specializing in surveying and mapping; subsurface utility engineering (SUE); and utility coordination for clients across the United States. SurvWest filed Chapter 11 petition (Bankr. D. Colo. Case No. 24-15214) on September 6, 2024, with total assets of $7,301,456 and total liabilities of $9,447,402. Mathew Barr, president, signed the petition. Judge Thomas B. Mcnamara handles the case. David Wadsworth, Esq., at Wadsworth Garber Warner Conrardy, P.C. is the Debtor's legal counsel. TBK Bank is represented by: Duncan E. Barber, Esq. Otteson Shapiro, LLP 7979 E. Tufts Avenue, Suite 1600 Denver, CO 80237 Tel: (720) 488-0220 Fax: (720) 488-7711 dbarber@os.law SWEET TRUCKING: Court OKs Final Use of Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of Tennessee issued a final agreed order authorizing Sweet Trucking Co., LLC to use its cash collateral with consent from secured creditor JB&B Capital, LLC. The Debtor may use monthly revenues for operating expenses, vehicle maintenance, and business reorganization as per the approved budget. Expenditures may not exceed 10% over budgeted amounts without a court order. The Debtor was ordered to escrow the payment of $8,444.48 to so-called MCA lenders in the IOLTA account of its legal counsel pending determination of their positions as lenders or owners of the Debtor's receivables or until further order of the court. As adequate protection, the Debtor must pay $29,749.97 monthly to secured creditors starting this month. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/WntBY from PacerMonitor.com. About Sweet Trucking Co. LLC Sweet Trucking Co., LLC is a family-owned transportation company based in Knoxville, Tennessee, specializing in hauling heavy equipment locally and across state lines. The Company operates a fleet of trucks, tractors, and trailers and employs a team of drivers to manage logistics and transport. It provides various trailer types, including flatbeds, lowbeds, and gooseneck trailers, serving construction and industrial clients. Sweet Trucking Co. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bank. E.D. Tenn. Case No. 25-30765) on April 21, 2025, listing $1,293,647 in assets and $1,471,498 in liabilities. Gary Wayne Sweet, Jr., managing member of Sweet Trucking Co., signed the petition. Judge Suzanne H. Bauknight oversees the case. Keith Edmiston, Esq., at Clark & Washington, PC represents the Debtor as legal counsel. SYNERGY MEDICAL: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Synergy Medical Services LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Florida to use cash collateral and provide adequate protection. The Debtor, a home healthcare provider operating in Florida's panhandle, has several creditors who may claim an interest in the cash collateral, including the U.S. Small Business Administration, CFG Merchant Solutions, LLC, Fox Funding Group, LLC, and Funding Metrics, LLC, based on security agreements and UCC-1 filings in Florida. As of the filing date, the Debtor’s assets total approximately $160,000, which includes cash in its checking account, funds held by CareCentrix, limited personal property, and one parcel of real estate. The SBA is believed to hold first lien position on the cash collateral. To continue operations and avoid irreparable harm, the Debtor needs to use the cash collateral in accordance with its budget and agreed to make monthly adequate protection payments of $3,000 to the SBA beginning August 1. The Debtor also agrees to provide post-petition replacement liens to any secured creditors and comply with typical cash collateral controls. The Debtor asserts that without use of the cash collateral, it will be unable to continue operations, harming its going-concern value and the interests of all 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. SYNERGY MEDICAL: Seeks to Tap Bruner Wright as Bankruptcy Counsel ----------------------------------------------------------------- Synergy Medical Services, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to employ Bruner Wright, PA to handle its Chapter 11 case. The firm will be paid at these hourly rates: Robert Bruner, Attorney $450 Byron Wright III, Attorney $400 Samantha Kelley, Attorney $375 Paralegal $175 The firm received a retainer of $12,000 from the Debtor's authorized member, James Young. Mr. Bruner 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. Bruner, Esq. Bruner Wright, PA 2868 Remington Green Circle, Suite B Tallahassee, FL 32308 Telephone: (850) 385-0342 Facsimile: (850) 270-2441 Email: rbruner@brunerwright.com About Synergy Medical Services 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 Debtor is represented by Byron W. Wright III, Esq., at Bruner Wright, PA. TAC & J: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------- On July 9, 2025, TAC & J Holding LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. 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 TAC & J Holding LLC TAC & J Holding LLC is a Texas-based holding company. TAC & J Holding LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Case No. 25-32570) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Joyce W. Lindauer Attorney, PLLC TARAH THAI: Seeks to Use Cash Collateral ---------------------------------------- Tarah Thai, LLC asks the U.S. Bankruptcy Court for the Northern District of California, San Jose Division, for authority to use cash collateral and provide adequate protection. The Debtor—a well-known Thai restaurant in San Jose, CA—filed for bankruptcy on June 23, 2025, primarily due to a large California sales tax liability from an audit, which the debtor claims arose from reporting misunderstandings, not misconduct. The Debtor requests interim and final approval to use cash collateral to pay necessary business expenses—such as wages, rent, and inventory costs—outlined in a 7-month budget. Without access to cash collateral, the restaurant risks immediate closure, job losses, damage to goodwill, and disruption of vendor relationships. As of May 31, 2025, the Debtor listed $66,904 in assets and $444,166 in liabilities, including secured debts from U.S. Small Business Administration, Working Solutions CDFI, and Celtic Bank (totaling $211,395). The Debtor proposes to reclassify Celtic Bank's claim as unsecured due to asset limitations and plans to provide adequate protection to the senior secured creditors (SBA and Working Solutions) via monthly payments totaling $1,245, amortized over 60 months at 5% interest. The Debtor argues that secured creditors will be protected by replacement liens on post-petition assets and the continuation of business operations. About Tarah Thai, LLC Tarah Thai, LLC operates a Thai restaurant in San Jose, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr N.D. Cal. Case No. 25-50944) on June 23, 2025. In the petition signed by Pawit Ninnabodee, chief financial officer, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Stephen L. Johnson oversees the case. Arasto Farsad, Esq, at Farsad Law Office, P.C., represents the Debtor as legal counsel. TBTOG DEVELOPMENT: Taps Hilco as Real Estate Broker and Consultant ------------------------------------------------------------------ TBOTG Development, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Hilco Real Estate, LLC as real estate broker and consultant. The Debtor needs a broker to assist it with a value-maximizing sale of the properties. The broker will receive a commission of 3 percent of the gross sale proceeds plus reimbursement for out-of-pocket expenses incurred, up to the aggregate limit of $25,000. Jeff Azuse, executive vice president at Hilco Real Estate, 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: Jeff Azuse Hilco Real Estate, LLC 5 Revere Dr., Ste. 410 Northbrook, IL 60062 About TBOTG Development 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. Tex. 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. TERRA LAKE: Trustee Seeks to Hire YIP Associates as Accountant -------------------------------------------------------------- Leslie Osborne, the trustee appointed in the Chapter 11 case of Terra Lake Heights, LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ YIP Associates as accountant. The firm will render these services: (a) review all financial information prepared by the Debtor; (b) review and analyze the organizational structure of any entity of the Debtor, the entity's financial interrelationships amongst it, its principals, affiliates, and insiders; (c) review and analyze transfers to and from the Debtor to third parties, both pre-petition and post-petition; (d) attend meetings with the Debtor, creditors, insiders, and associates of such parties, and with federal, state, and local tax authorities, if requested; (e) review the books and records of the Debtor for potential preference payments, fraudulent transfers, or any other matters that the trustee may request; (f) prepare the estate tax returns, and if required, correspond with and/or attend meetings with federal and local tax authorities; and (g) render any such other assistance in the nature of accounting, business valuation, financial consulting, or other financial projects as the trustee may deem necessary. Hylton Wynick, a partner at YIP Associates, 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: Hylton B. Wynick YIP Associates 2 Biscayne Blvd., #2690 Miami, FL 33131 Telephone: (305) 787-3572 About Terra Lake Heights Terra Lake Heights, LLC is a limited liability company in Hollywood, Fla. Terra Lake Heights sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-14464) on April 23, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $10 million and $50 million in liabilities. Judge Scott M. Grossman handles the case. The Debtor is represented by Chad Van Horn, Esq., at Van Horn Law Group, PA. Leslie Osborne is the Chapter 11 trustee appointed in the Debtor's case. The trustee tapped YIP Associates as accountant. THASSOS INC: Seeks to Hire Konstantine Sparagis as Legal Counsel ---------------------------------------------------------------- Thassos, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ the Law Offices of Konstantine Sparagis, PC as counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties in the continued management and operation of its business and properties; (b) attend meetings and negotiate with representatives of creditors and other parties in interest; (c) take all necessary action to protect and preserve the Debtor's estate; (d) prepare all legal papers necessary to administer the Debtor's estate; (e) take any action necessary on behalf of the Debtor to obtain approval of a disclosure statement and its plan of reorganization; (f) represent the Debtor in connection with the obtaining post-petition financing, if required; (g) advise the Debtor in connection with any potential sale of assets; and (h) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with the Chapter 11 case. The firm will be paid at these hourly rates: Konstantine Spragis, Attorney $400 Associate Attorney $195 Paraprofessionals $75 In addition, the firm will seek reimbursement for expenses incurred. The firm received a pre-petition retainer of $15,000 from the Debtor, of which $1,738 was used as payment for filing fees. Mr. Sparagis 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: Konstantine T. Sparagis, Esq. Law Offices of Konstantine Sparagis, PC 900 W. Jackson Blvd., Ste. 4E Chicago, IL 60607 Telephone: (312) 753-6956 Email: gus@konstantinelaw.com About Thassos Inc. Thassos Inc. operates a Greek restaurant in Clarendon Hills, Illinois. The establishment specializes in authentic Greek cuisine and offers dine-in, catering, and online ordering services. Thassos sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08021) 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. Judge Janet S. Baer handles the case. The Debtor is represented by the Law Offices of Konstantine Sparagis. THRASIO HOLDINGS: S&P Cuts ICR to D on Capital Structure Amendment ------------------------------------------------------------------ S&P Global Ratings lowered its issuer credit rating to 'D' (default) from 'CCC-' on U.S.-based Thrasio Holdings Inc. S&P said, "Concurrently, we lowered our issue-level rating on the $90 million senior secured first-out term loan to 'D' from 'CC' and issue-level rating on the $276 million second-out term loan to 'D' from 'C'. "We will reassess our issuer credit and issue-level ratings in the coming days." Thrasio Holdings amended its credit agreement to extend the payment-in-kind (PIK) interest payment on the first-out and second-out term loans for another year, or it would otherwise start paying cash interest expense. S&P said, "We view the transaction as distressed and tantamount to default because it represents less than the original promise and we believe there was a realistic possibility Thrasio would experience a default over the near term absent the lenders' consent to defer the cash interest. "We view the company's amendment to extend the PIK interest payment on its first-out and second-out term loans as tantamount to default." On June 20, 2025, Thrasio amended its existing credit agreement to extend the PIK interest payments on both the first-out and second-out term loan for another year until June 18, 2026. After that, the interest payment on the first-out term loan will convert to cash and interest payment on the second-out term loan will either be cash or PIK if it meets the $50 million liquidity threshold. Absent this amendment, Thrasio would otherwise start paying cash interest expense, given its cash balance currently exceeds the $50 million threshold. S&P said, "In our view, the transaction is a distressed exchange and tantamount to a default because Thrasio's lenders received less than the original promise of the securities and were not adequately compensated for deferring their right to contractual cash interest payments. We also believe there was a realistic possibility Thrasio would have faced a conventional default over the near term, particularly given our forecast for negative EBITDA and free operating cash flow generation." TIFARET DISCOUNT: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------------- On July 9, 2025, Tifaret Discount Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Tifaret Discount Inc. Tifaret Discount Inc., operating as Redlicious Supermarket, a grocery retailer based in Monsey, New York. Tifaret Discount Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22623) on July 9, 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 Sean H Lane handles the case. The Debtors are represented by Leo Fox, Esq. TIFARET DISCOUNT: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Tifaret Discount Inc. d/b/a Redlicious Supermarket 100 Route 59 Suite 24 Monsey New York 10952-3842 Business Description: The Debtor operates a grocery store and supermarket serving the Kosher Orthodox Jewish community in Monsey, New York. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-22623 Judge: Hon. Sean H Lane Debtor's Counsel: Leo Fox, Esq. LAW OFFICE OF LEO FOX, ESQ. 630 Third Avenue - 18th Floor New York NY 10017 Tel: 212-867-9595 E-mail: leo@leofoxlaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Baruch Ausch as president. The Debtor did not submit the required list of its 20 largest unsecured creditors when filing the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4ESIS7Q/Tifaret_Discount_Inc__nysbke-25-22623__0001.0.pdf?mcid=tGE4TAMA TOMS RIVER REGIONAL: Bonds Rating Slashed After Bankruptcy Warning ------------------------------------------------------------------ Sri Taylor of Bloomberg Law reports that S&P Global Ratings downgraded the Toms River Regional School District's bond rating by two notches after local officials weighed bankruptcy over approving a tax-increasing budget. The district's rating was lowered from AA- to A and placed on watch for a potential further downgrade, according to a statement released late Tuesday, July 8, 2025. In late June 2025, the school board declined to adopt a budget that would have raised property taxes. Following the decision, Board President Ashley Lamb authorized staff to consult with bankruptcy attorneys. About Toms River Regional School District Toms River Regional School District is a full-service regional public school district serving the rapidly growing coastal community of Toms River. TUPPERWARE BRANDS: $22MM Investor Settlement Hits Court Snag ------------------------------------------------------------ Gillian R. Brassil of Bloomberg Law reports that A nearly $22 million settlement for Tupperware Brands Corp. investors has failed to secure initial approval from a federal court, stalling efforts to resolve claims that the troubled food storage company issued overly optimistic financial forecasts ahead of its disappointing 2022 results. Magistrate Judge Leslie Hoffman Price declined to grant preliminary approval, citing the plaintiffs' failure to address their standing to support class certification. The judge also flagged inconsistencies in the settlement terms, noting it was unclear whether the deal included Tupperware itself or only former CEO Miguel Fernandez and former CFO Cassandra Harris, creating confusion about the scope of the agreement. About Tupperware Brands Tupperware Brands Corporation (NYSE: TUP) --https://www.tupperwarebrands.com/ -- is a global consumer products company that designs innovative, functional, and environmentally responsible products. Founded in 1946, Tupperware's signature container created the modern food storage category that revolutionized the way the world stores, serves, and prepares food. Today, this iconic brand has more than 8,500 functional design and utility patents for solution-oriented kitchen and home products. The company distributes its products into nearly 70 countries, primarily through independent representatives around the world. Tupperware Brands sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-12166) on Sept. 17, 2024. In the bankruptcy petition, Tupperware reported more than $1.2 billion in total debts and $679.5 million in total assets. Kirkland & Ellis LLP is serving as legal advisor to Tupperware, Moelis & Company LLC is serving as the Company's investment banker, and Alvarez & Marsal is serving as the Company's financial and restructuring advisor. Epiq is the claims agent and has put up the page https://dm.epiq11.com/Tupperware. TXMV2017 LLC: Files Amendment to Disclosure Statement ----------------------------------------------------- TXMV2017, LLC, submitted an Amended Combined Plan and Disclosure Statement dated June 20, 2025. The Debtor owns a garden-style multifamily 352-unit apartment complex. This apartment complex is operating and substantially occupied by tenants. The Debtor will sell (or refinance) the apartment complex (Northborough Drive) on or before December 31, 2025, paying all allowed secured creditors from the proceeds of the sale (or refinance) on all amounts then outstanding in full. The Debtor agrees that if it is unable to sell or refinance by December 31, 2025, it will not commence a subsequent bankruptcy proceeding. The Debtor shall at all times during this Plan maintain the requisite insurance required under the secured creditors loan documents with the Debtor. The Debtor asserts that creditors in Class 1 are oversecured creditors, in that the pre-petition appraised value of the apartment complex is approximately $40,200,000.00. Class (1(a) creditor may not repossess or dispose of their collateral or otherwise proceed against the Debtor, its collateral and any guarantors, so long as Debtor is not in Material Default under the Plan. Class 1(a) Allowed Secured claims are not impaired and thus not entitled to vote on confirmation of the Plan. Class 1(b) Allowed Secured claims are impaired and are entitled to vote on confirmation of the Plan. All loan documents attached to the FTFCU Proof of Claim, including all loan documents executed in connection therewith, whether referenced in the FTFCU Proof of Claim or not, including guarantees, are collectively referred to herein as the "FTFCU Loan Documents." FTFCU shall be fully secured on all collateral described in the FTFCU Loan Documents including Northborough Drive ("FTFCU Collateral") in the amount of $22,742,627.65, plus all post-petition interest, fees, costs, and reasonable and necessary legal fees/costs in connection therewith through and including the date of confirmation without necessity of FTFCU to obtain separate Court approval other than the confirmation order ("FTFCU Allowed Secured Claim"). The FTFCU Allowed Secured Claim shall accrue interest at 11.75% from the Effective Date of the Plan until the FTFCU Allowed Secured Claim is paid in full. FTFCU shall be entitled to any necessary and reasonable legal fees and costs incurred by FTFCU after confirmation and prior to payoff of the FTFCU Allowed Secured Claim without further order of this Court. The Disputed General Unsecured Claims are contingent, disputed and/or unliquidated and will not become allowed claims until one or more final judgments have been entered and all appeals exhausted. If, or once a Disputed General Unsecured Claim becomes an Allowed General Unsecured Claim, it shall no longer be a Disputed General Unsecured Claim and shall be treated in accordance with Class 2 General Unsecured Claims. Jose Ernesto Sanchez Sandoval, et al. are parties to one or more pre-petition lawsuits against the Debtor, et al. Under this Plan, it is proposed that all such plaintiffs after the Effective Date recommence the pending litigation to determine the asserted contingent, disputed and unliquidated personal injury and wrongful death purported claims. The Debtor hereby reserves the right to object to the filed proof of claim by Jose Ernesto Sanchez Sandoval, et al. in the event that such plaintiffs/parties contest confirmation of this Plan, as part of the confirmation process. On the Effective Date, all property of the estate and interests of the Debtor, that is property of the estate as of the date of Plan confirmation, will vest in the reorganized Debtor pursuant to Section 1141(b) of the Bankruptcy Code free and clear of all lien, claims, interests and encumbrances except as otherwise provided in this Plan. The obligations to creditors that Debtor undertakes in the confirmed Plan replace those obligations to creditors that existed prior to the Effective Date of the Plan. Debtor's obligations under the confirmed Plan constitute binding contractual promises that, if not satisfied through performance of the Plan, create a basis for an action for breach of contract under Texas law. To the extent a creditor retains a lien under the Plan, that creditor retains all rights provided by such lien under applicable non Bankruptcy law. A full-text copy of the Amended Combined Plan and Disclosure Statement dated June 20, 2025 is available at https://urlcurt.com/u?l=89Kq3C from PacerMonitor.com at no charge. Counsel for the Debtor: Steven Shurn, Esq. HUGHESWATTERSASKANASE, LLP TotalEnergies Tower 1201 Louisiana, 28th Floor Houston, Texas 77002 Telephone: (713) 590-4200 Facsimile: (713) 590-4230 Cell: (713) 410-2139 About TXMV2017 LLC TXMV2017, LLC owns a 352-unit appartement complex in Houston, Texas. TXMV2017 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-30126) on January 6, 2025, listing up to $50 million in both assets and liabilities. Fercan E. Kalkan, sole manager and member, signed the petition. Steven Shurn, Esq., at Hughes Watters Askanase, represents the Debtor as legal counsel. First Technology Federal Credit Union, as lender, is represented by: Michael P. Menton, Esq. Danika Lopez, Esq. SettlePou 3333 Lee Parkway, Eighth Floor Dallas, Texas 75219 Tel: (214) 520-3300 Fax: (214) 526-4145 E-mail: mmenton@settlepou.com dlopez@settlepou.com UFP HOLDING I: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------ On July 9, 2025, UFP Holding I LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About UFP Holding I LLC UFP Holding I LLC is a real estate holding company based in New York. The company operates in the lessors of real estate property sector (NAICS code 531190), which typically involves owning and leasing real estate assets. UFP Holding I LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11526) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge John P. Mastando III handles the case. The Debtors are represented by T. Edward Williams, Esq. at Williams LLP. UFP HOLDING: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: UFP Holding I, LLC 600 Third Avenue FL 2 New York NY 10016 Business Description: UFP Holding I, LLC leases non-building real estate properties such as land, industrial parks, and railroad property. The Company operates in the United States and specializes in property types that exclude residential or commercial buildings. Chapter 11 Petition Date: July 9, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-11526 Judge: Hon. John P. Mastando III Debtor's Counsel: T. Edward Williams, Esq. WILLIAMS LLP 420 Lexington Avenue, Suite 875 New York, NY 10170 USA Tel: 212-417-0430 E-mail: edward@williamsllp.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Muhammed Howard as manager. The Debtor failed to provide a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FZCEHZY/UFP_Holding_I_LLC__nysbke-25-11526__0001.0.pdf?mcid=tGE4TAMA UNIFIED SCIENCE: U.S. Trustee Appoints Creditors' Committee ----------------------------------------------------------- Adam Brief, Acting U.S. Trustee for Region 11, appointed an official committee to represent unsecured creditors in the Chapter 11 case of X. The Office of the U.S. Trustee for Region X on X appointed X creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Unified Science, LLC. The committee members are: 1. Billion & Armitage 7300 Metro Blvd Ste 605 Minneapolis, MN 55439 Representative: Attorney Mark Burns (952) 697-2635 mburns@billionarmitage.com 2. Bizal Mfg., Inc. 7880 Ranchers Rd Fridley, MN 55432 Representative: Jennifer Klemz (763) 571-4030 Jennifer.klemz@bizalmfg.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Unified Science LLC Unified Science LLC, doing business as United Science, provides services, consulting, and manufacturing for the pharmaceutical and nutraceutical industries. The company offers product development, process engineering, analytical development, and compliance services. It positions itself as a scientific partner supporting clients from development through to product launch. Unified Science sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-11162) on May 19, 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 Catherine J. Furay handles the case. The Debtor is represented by Evan M. Swenson, Esq., at Swenson Law Group, LLC. VEGAS TREASURES: Hires Larson & Zirzow as Bankruptcy Counsel ------------------------------------------------------------ Vegas Treasures, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Larson & Zirzow, LLC as bankruptcy counsel. The firm will render these services: (a) prepare on behalf of the Debtor all necessary or appropriate legal papers in connection with the administration of its bankruptcy estate; (b) take all necessary or appropriate actions in connection with a plan of reorganization and all related documents, and such further actions as may be required in connection with the administration of the Debtor's estate; (c) take all necessary actions to protect and preserve the Debtor's estate; and (d) perform all other necessary legal services in connection with the prosecution of the Chapter 11 case. The firm will be paid at these rates: Zachariah Larson, Esq., Principal $650 per hour Benjamin Chambliss, Esq., Associate $500 per hour Patricia Huelsman, Paralegal $295 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received from the Debtor a retainer of $20,000. Mr. Zirzow disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Matthew C. Zirzow, Esq. Larson & Zirzow, LLC 850 E. Bonneville Ave. Las Vegas, NV 89101 Telephone: (702) 382-1170 Facsimile: (702) 382-1169 Email: mzirzow@lzlawnv.com About Vegas Treasures, Inc. Vegas Treasures Inc., doing business as Paymon's Fresh Kitchen & Lounge, operates a restaurant and lounge in Las Vegas, Nevada. The Company offers international cuisine with vegan, vegetarian, and gluten-free options, emphasizing health-conscious ingredients. It also runs a lounge known for its cocktails, entertainment, and community-focused atmosphere. Vegas Treasures Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-13582) on June 23, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million. Honorable Bankruptcy Judge Natalie M. Cox handles the case. The Debtors are represented by Zachariah Larson, Esq. at LARSON & ZIRZOW, LLC. VELOCITY ESPORTS: Hires Nevada Bankruptcy Attorneys as Counsel -------------------------------------------------------------- Velocity Esports, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Nevada to employ Nevada Bankruptcy Attorneys, LLC as counsel. The firm's services include: a. advising Debtors of their rights and obligations and performance of their duties during administration of these Chapter 11 Cases; b. attending meetings and negotiations with other parties in interest on Debtors' behalf in these Chapter 11 Cases; c. taking all necessary action to protect and preserve Debtors' estates including: the prosecution of actions, the defense of any actions taken against Debtors, negotiations concerning all litigation in which Debtors are involved, and objecting to claims filed against the estates which are believed to be inaccurate; d. seeking this Court's approval and confirmation of a plan of reorganization, the accompanying disclosure statement, and all papers and pleadings related thereto and in support thereof and attending court hearings related thereto; e. representing Debtors in all proceedings before this Court or other courts of jurisdiction in connection with these Chapter 11 Cases, including preparing and/or reviewing all motions, answers and orders necessary to protect Debtors' interests; f. assisting Debtors in developing legal positions and strategies with respect to all facets of these proceedings; g. preparing on Debtors' behalf necessary applications, motions, answers, orders and other documents; and h. performing all other legal services for Debtors in connection with these Chapter 11 Cases as may be necessary. The firm will be paid at these rates: Matthew I. Knepper, Partner $495 per hour Brenden J. Gougeon, Senior Associate $285 per hour Partners $495 per hour Senior Associate $285 per hour Senior Paralegal $185 per hour Legal Assistant $95 per hour The firm was paid an initial retainer in the amount of $30,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Matthew I. Knepper, Esq., a partner at Nevada Bankruptcy Attorneys, 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: Matthew I. Knepper, Esq. Nevada Bankruptcy Attorneys, LLC 5502 S. Fort Apache Rd., Suite 200 Las Vegas, NV 89148-7700 Tel: (702) 660-4228 Fax: (702) 660-4228 Email: mknepper@nvbankruptcyattorneys.com About Velocity Esports Inc. Velocity Esports Inc. operates gaming and entertainment venues across select U.S. locations, offering a mix of arcade games, esports lounges, bowling, and casual dining. The Company caters to both casual and competitive gamers, as well as event hosting for social and corporate gatherings. Its venues are equipped with modern gaming technology and also feature food and beverage options with a focus on American and Mexican fare. Velocity Esports and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Lead Case No. 25-12627) on May 7, 2025. In its petition, Velocity Esports reported total assets of $1,294,858 and total liabilities of $9,931,782. Judge Mike K. Nakagawa handles the cases. The Debtors are represented by Matthew Knepper, Esq., and Brenden Gougeon, Esq., at Nevada Bankruptcy Attorneys, LLC. VELOCITY ESPORTS: Seeks to Hire First Choice as Broker ------------------------------------------------------ Velocity Esports, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Nevada to employ First Choice Business Brokers as Broker. The firm will provide these services: a. act as the exclusive agent for the sale, exchange, lease, or other disposition of the business during the listing period; b. advertise and market the Debtors' businesses; c. facilitate and manage buyer introductions and determine buyer eligibility; d. coordinate transaction closing; e. draft purchase agreements; and f. require potential buyers to sign confidentiality agreements. The firm will be paid 12.5 percent of the Transacted Value or $15,000, whichever is greater, per transaction. Freddie McFinn, a partner at First Choice Business Brokers, 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: Freddie McFinn First Choice Business Brokers 851 South Rampart Boulevard Suite 200 Las Vegas, NV 89145 Tel: (702) 217-5125 About About Velocity Esports Inc. Velocity Esports Inc. operates gaming and entertainment venues across select U.S. locations, offering a mix of arcade games, esports lounges, bowling, and casual dining. The Company caters to both casual and competitive gamers, as well as event hosting for social and corporate gatherings. Its venues are equipped with modern gaming technology and also feature food and beverage options with a focus on American and Mexican fare. Velocity Esports and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Lead Case No. 25-12627) on May 7, 2025. In its petition, Velocity Esports reported total assets of $1,294,858 and total liabilities of $9,931,782. Judge Mike K. Nakagawa handles the cases. The Debtors are represented by Matthew Knepper, Esq., and Brenden Gougeon, Esq., at Nevada Bankruptcy Attorneys, LLC. VILLAGES HEALTH: Receives $39MM DIP Prelim Court Approval --------------------------------------------------------- Carolina Bolado of Law360 reports that a Florida bankruptcy judge has given preliminary approval to a $39 million debtor-in-possession financing plan for The Villages Health System LLC, which filed for Chapter 11 in the first week of July 2025. The healthcare provider serves approximately 55,000 residents in the nation's most well-known retirement community. About The Villages Health ("TVH") The Villages Health (TVH) is a leading healthcare provider in North Central Florida, offering comprehensive primary and specialty care through a collaborative, team-based approach. In addition to primary care, TVH delivers specialized services in audiology, behavioral and mental health, cardiology, dietetics, endocrinology, gastroenterology, gynecology, interventional pain management, neurology, podiatry, rheumatology, and urology. To learn more, visit thevillageshealth.com The Village Health sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04156) on July 3, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Lori V. Vaughan handles the case. The Debtor is represented by Elizabeth A. Green at Baker & Hostetler LLP. VILLAS AT 79TH: Seeks to Hire Stinson LLP as Counsel ---------------------------------------------------- Villas at 79th, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Stinson LLP as counsel. The firm will provide these services: a. advise the Debtor with respect to its powers and duties as debtor-in-possession in the continued management of its business and property; b. attend meetings and negotiate with representatives of creditors and other parties in interest and advising and consulting on the conduct of this Chapter 11 case, including all the legal and administrative requirements of operating in Chapter 11; c. advise the Debtor in connection with any contemplated sale of assets or business combinations, formulate and implement appropriate procedures with respect to the closing of any such transactions, and counsel the Debtor in connection with such transactions; d. advise the Debtor in connection with any post-petition financing and cash collateral arrangements and negotiating and drafting related documents, providing advice and counsel with respect to prepetition financing agreements and their possible restructuring; e. advise the Debtor on matters relating to the assumption, rejection, or assignment of unexpired leases and executory contracts; f. advise the Debtor with respect to legal issues arising in or relating to the Debtor's ordinary course of business including attendance at senior management meetings, meetings with the Debtor's financial and restructuring advisors and meetings of the board of directors; g. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on its behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which the Debtor is involved, and objecting to claims filed against the Debtor's estate; h. prepare, on the Debtor's behalf, all motions, applications, answers, orders, reports, and papers necessary to the administration of the estate; i. negotiate, on the Debtor's behalf, its Chapter 11 plan, related disclosure statement, and all related agreements and documents and taking any necessary action on the Debtor's behalf to obtain confirmation of that plan; j. appear and advance the Debtor's interests before this Court, any appellate courts, and the US Trustee; and k. perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with this Chapter 11 case. The firm will be paid at these rates: Lawyers $290 to $1,000 per hour Paralegals $200 to $300 per hour On June 17, 2025, the firm received $20,000 from Union Capital Partners, LP, an entity that holds all of the equity interests in the Debtor. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Cali 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: Anthony P. Cali, Esq. STINSON LLP 1850 N. Central Avenue, Suite 2100 Phoenix, AZ 85004-4584 Tel: (602) 279-1600 Fax: (602) 240-6925 Email: anthony.cali@stinson.com About Villas at 79th, LLC Villas at 79th LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). Villas at 79th LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-05510) on June 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Anthony P. Cali, Esq. at STINSON LLP. WELLPATH HOLDINGS: Court Tosses Remaining Claims in Santana Lawsuit ------------------------------------------------------------------- Judge Gerald Austin McHugh of the United States District for the Middle District of Georgia dismissed the remaining claims against Defendants Dr. Paul Little and Dr. John Nicholson in the case captioned as MICHAEL HERNANDEZ-SANTANA, Plaintiff, v. DR. PAUL LITTLE, et al., Defendants, Case No. 24-cv-06447-GAM (E.D. Pa.). In a prior Memorandum, the Court dismissed in part the Complaint filed Michael Hernandez-Santana, a prisoner incarcerated at SCI Chester. Constitutional claims against Defendant Mr. E. Reason were dismissed with prejudice and state law claims against that Defendant were dismissed without prejudice. The Court reserved screening and stayed Hernandez-Santana's Eighth Amendment claims against Defendants Dr. Paul Little and Dr. John Nicholson, both of whom are employees of Wellpath, the medical services contractor at SCIC because the Court was on notice that Wellpath has filed a petition for Chapter 11 bankruptcy protection that was in the early stages of adjudication, and which impacted claims against its non-debtor employees. Wellpath emerged from bankruptcy proceedings on May 1, 2025 upon the Confirmation of the Plan of Reorganization under Chapter 11 of the Bankruptcy Code. Thereafter, Mr. Hernandez-Santana was directed to inform the Court whether he had submitted (1) a proof of claim in the Bankruptcy Court prior to that Court's April 7, 2025 deadline to do so, (2) an objection to or motion for relief from the Automatic Stay, or (3) a ballot or other communication affirmatively expressing an intent to opt out of the Third-Party Release imposed as part of the plan of reorganization. Mr. Hernandez-Santana responded by filing a Motion to Proceed indicating that he had no notice of the bankruptcy proceeding. During lunch on Aug. 22, 2023, Mr. Hernandez-Santana allegedly ingested pieces of metal that were in his hamburger. He was taken to the SCIC medical unit where, assisted by a correctional officer translator, Dr. Little examined him for injuries and referred him to a dentist finding that he had a loose filling. The unnamed dentist determined he had no cavities or fillings, and Dr. Little sent Mr. Hernandez-Santana back to his housing unit. He had bouts of pain throughout the rest of that day and for the next couple of months due to an alleged lack of treatment for his injury. He claims that every time he was seen by Dr. Little, he refused to treat or provide medical assistance. On Oct. 19, 2023, Mr. Hernandez-Santana put in a sick call slip to be seen for severe stomach pain and blood in his stool. He was seen by Defendant Nicholson, aided by an inmate translator. Dr. Nicholson offered to perform a "cavity search" in front of the inmate translator, which Mr. Hernandez-Santana refused, and he returned to his housing unit. At some unspecified point thereafter, Mr. Hernandez-Santana was called back to medical and sent to a hospital emergency room. When he returned to SCIC, Dr. Nicholson documented that he had no medical matters existing in his stomach. Mr. Hernandez-Santana seeks money damages for his claims under the Eighth Amendment based on his medical care. The Court finds assuming for purposes of statutory screening that Hernandez-Santana's stomach and dental condition represented serious medical needs, his constitutional claims against Dr. Little and Dr. Nicholson fall short. Mr. Hernandez-Santana received treatment for his condition. When he first presented with the issue in August 2023, Dr. Little examined him for injuries and referred him to a dentist who determined he had no cavities or fillings. According to the Court, while he claims he continued to suffer pain due to an alleged lack of treatment for his injury and claims that every time he was seen by Little, he refused to treat or provide medical assistance, these allegations are insufficient to allege a plausible claim because they are conclusory. The claim against Dr. Nicholson is also not plausible. Mr. Hernandez-Santana's allegations are not sufficient to state a plausible claim since he fails to allege how Dr. Nicholson was deliberately indifferent to his medical needs when he refused Dr. Nicholson's offer to perform an examination in the medical unit, and he was offered outside testing, in which Dr. Nicholson was not involved, that could not be completed, the Court concludes. Accordingly, Mr. Hernandez-Santana's remaining claims against Defendants Little and Nicholson will be dismissed on statutory screening. A copy of the Court's Memorandum dated July 2, 2025, is available at https://urlcurt.com/u?l=ykQi8h from PacerMonitor.com. About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq. at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. WESTJET AIRLINES: S&P Alters Outlook to Negative, Affirms 'B' ICR ----------------------------------------------------------------- S&P Global Ratings revised its outlook on Calgary-based WestJet Airlines Ltd. to negative from stable and affirmed its 'B' long-term issuer credit rating. S&P said, "At the same time, we affirmed our 'B+' issue-level rating on the company's revolving credit facility. The '2' recovery rating is unchanged. "The negative outlook reflects our expectation that WestJet's S&P Global Ratings-adjusted debt to EBITDA will be in the 6x-7x range and its S&P Global Ratings-adjusted funds from operations (FFO) to debt will be in the 7%-9% range over the next couple of years, which we consider weak for the rating. "WestJet's credit measures are trending weaker than we previously expected and it faces a more-challenging demand environment this year. The company ended 2024 with S&P Global Ratings-adjusted FFO to debt of about 9% and S&P Global Ratings-adjusted debt to EBITDA of 6.2x, which were weaker than we had previously expected due to its lower EBITDA margins and higher lease liabilities relative to our estimates. We assume WestJet's credit measures will deteriorate further this year as macroeconomic headwinds from tariff uncertainty place downward pressure on airfares and transborder traffic, which we assume will only be partly offset by lower jet fuel prices and a strengthening of the Canadian dollar. We assume the company will modestly improve its credit measures in 2026 and beyond, including S&P Global Ratings-adjusted FFO to debt of above 9% and S&P Global Ratings-adjusted debt to EBITDA of below 6x. However, the negative outlook reflects the potential WestJet will face sustained pressure on its operating results, given the currently high level of market uncertainty (particularly on transborder routes). In our view, there is less room for the company to underperform relative to our estimates at the current rating, which has increased the probability of a downgrade in the next 12 months. "Transborder traffic comprises about one-quarter of WestJet's business and we assume it will decline by more than 10% this year. The weaker demand for transborder flights, with bookings down by the mid-teens percent area as of mid-March 2025, likely stems from the shifting U.S. trade policy toward Canada, a weaker Canadian dollar early this year (which has recovered somewhat), and an observed trend of Canadians generally favoring domestic and international travel over travel to the U.S. We understand that WestJet has shifted some of its transborder capacity to the Caribbean and its domestic routes where it is experiencing relatively stronger demand. However, as other airlines do the same and continue to expand their capacity, these routes could become crowded, particularly in Canada. As capacity increases in Canada, macroeconomic uncertainty and affordability challenges could limit travel demand. In our view, this poses a risk to WestJet's earnings because it is more-exposed to domestic market conditions than the larger carriers that benefit from more-diverse route networks. These competitors include Air Canada, which has a larger presence in the transatlantic market that has been an important source of diversity for the company. "We assume WestJet's passenger traffic will increase by 0%-2% this year amid the slower demand environment. At the same time, the company is taking this opportunity to reconfigure its cabins and enhance in-flight services on about 40 of its Boeing 737s, including those previously operated by Sunwing, Swoop, and other airlines. We expect the lower capacity growth this year, coupled with cost inflation and a more-challenging demand environment, will contribute to modest margin pressure and a 5%-10% decline in WestJet's 2025 EBIDTA. We expect the company's EBITDA will recover in 2026 and increase further in 2027 as it returns its refurbished planes to service and takes delivery of new, more-efficient Boeing 737 MAXs. Given WestJet's high operating leverage, we expect its rising traffic and revenue beyond 2025 will likely contribute to an expansion in its EBITDA margins to the 14%-15% range in 2027. "We expect WestJet's new aircraft investments will contribute to negative free operating cash flow (FOCF) generation and increased debt levels over the next few years. We assume the company's capital expenditure (capex) will remain elevated over the next few years as its takes delivery of new aircraft. As of March 31, 2025, WestJet estimated that its commitments for the purchase of 737 Max aircraft and spare engines over the next five years stood at about C$4.5 billion. These investments contribute to our assumption that the company will increase its capacity by the 4%-6% range annually beyond this year as it adds younger and more-fuel efficient aircraft to its fleet. We assume WestJet will take delivery of six Boeing 737 MAXs this year and at least 10 in 2026 and believe it may look to retire its older Boeing 737 NGs and De Havilland Canada Dash 8-400s (Q400). We assume the company will use sale-leaseback transactions or other source of debt to finance most of its capex and cover the remainder with operating cash flows. We expect this will lead the company to generate negative FOCF and increase its debt levels (including leases), thereby limiting the pace of its deleveraging and leaving it with less financial flexibility if market conditions deteriorate. That said, we also note there could be delays in the timing of these deliveries, as has occurred across much of the airline industry over the past year. "Our ratings on WestJet incorporate its status as the second-largest airline in Canada, which is characterized by its strong presence in Western Canada and efficient operations. With a domestic market share of about 30%, the company ranks behind only Air Canada, which accounts for about 40% of the Canadian market. Although smaller competitors like Flair Airlines and Porter Airlines have gained market share over the past decade, the industry remains highly concentrated. WestJet's strongest market presence is in Western Canada and sun destinations, in which it commands about 40% market share. The acquisition of Sunwing Vacations Inc. on May 1, 2023, bolstered the company's position in the leisure sector, making it the largest tour operator for sun destinations in Canada. Our assessment of WestJet's competitive standing also reflects our expectation it will expand its S&P Global Ratings-adjusted EBITDA margins to the 14%-15% range in the coming years, supported by its relatively young fleet (with an average age of about 11 years), good cost controls, and ongoing fleet investments (including the addition of new, more-efficient Boeing 737 MAX aircraft). That said, we acknowledge that the company's earnings and margins can be volatile. We consider the North American airline sector as high risk due to its cyclical demand, significant competition, high operating leverage, and capital intensity. Furthermore, the passenger airline industry is susceptible to disruptions from outside events, such as war, terrorism, and epidemics. "The negative outlook reflects our expectation that WestJet's S&P Global Ratings-adjusted debt to EBITDA will be in the 6x-7x range and its S&P Global Ratings-adjusted FFO to debt will be in the 7%-9% range over the next couple of years, which we consider weak for the rating. This incorporates our assumption of weaker air travel demand this year--particularly on the company's transborder routes--higher operating costs (excluding fuel), and increased lease obligations. Our negative outlook also reflects WestJet's limited financial flexibility over the next couple of years due to its high interest burden and the capital commitments for its new aircraft. "We could downgrade WestJet in the next 12 months if we except it will sustain S&P Global Ratings-adjusted debt to EBITDA of more than 6x, which roughly corresponds to S&P Global Ratings-adjusted FFO to debt of less than 9%. This could occur if the company's passenger revenue is lower than we expect, potentially because of increased competition or weak travel demand, or higher operating costs contribute to weaker profitability. "We could revise our outlook on WestJet to stable in the next 12 months if its credit measures trend stronger than we expect and we see a clear path for it to reduce its S&P Global Ratings-adjusted debt to EBITDA below 6x and improve its S&P Global Ratings-adjusted FFO to debt above 9% and sustain these metrics at those levels. This could occur if the company's earnings and FOCF generation exceed our assumptions, potentially due to an increase in travel demand that supports increases in its passenger revenue and margins." WILCOV HOLDINGS: Hires Cone Commercial Real Estate as Realtor ------------------------------------------------------------- Wilcov Holdings, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Cone Commercial Real Estate LLC as realtor. The firm will provide these services: (a) list the Debtor's properties; (b) advise the Debtor on issues related to the marketing and selling of said properties; (c) show said properties to prospective buyers; (d) communicate offers from prospective buyers to the Debtor; and (e) assist the Debtor is closing sales regarding said properties. The realtor will receive a commission of 5 percent, paid at closing, if a property is sold directly by Cone Commercial. If the sale involves an outside agent, the commission is 6 percent, paid at closing, wherein Cone Commercial will receive 3 percent and the outside agent will receive 3 percent. Ryan Cone, founder and director at Cone Commercial Real Estate, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan Cone Cone Commercial Real Estate LLC 2964 Hardman Court NE Atlanta, GA 30305 About Wilcov Holdings Wilcov Holdings Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55970) on May 30, 2025. The Debtor tapped Joel D. Myers, Esq., at Myers Law, LLC as counsel and Ginnett Zabala LLC as accountant. WILCOV HOLDINGS: Seeks Approval to Tap Ginnett Zabala as Accountant ------------------------------------------------------------------- Wilcov Holdings, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Ginnett Zabala LLC as accountant. The firm will provide these services: (a) assist the Debtor in preparing its tax returns; (b) analyze financial data and prepare financial reports as necessary to comply with orders of the Court and requests from the U.S. Trustee and other parties-in-interest; and (c) other essential accounting duties necessary to ensure the accuracy of information presented to the court and parties in interest in this case. Ginnett Zabala, the primary accountant in this representation, will be billed $50 per hour for accounting purposes and $525 fee for corporation tax return. Ms. Zabala 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: Ginnett Zabala, CPA Ginnett Zabala LLC 406 Oak Leaf Trail Villa Rica, GA 30180 About Wilcov Holdings Wilcov Holdings Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55970) on May 30, 2025. The Debtor tapped Joel D. Myers, Esq., at Myers Law, LLC as counsel and Ginnett Zabala LLC as accountant. WOLFSPEED INC: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Wolfspeed, Inc. and its affiliates received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. Substantially all of the Debtors' cash constitutes cash collateral of senior secured noteholders and U.S. Bank Trust Company, N.A., as trustee and collateral agent under an indenture governing the senior secured notes due 2030 issued by Wolfspeed. The interim order signed by Judge Christopher Lopez authorized the Debtors to use cash collateral from June 30 until the occurrence of so-called termination events to fund business operations, pay the costs of administration of the bankruptcy estates, and fund "adequate protection" payments. Termination events include failure by the Debtors to obtain the court's final approval to access cash collateral within 45 days after the petition date; the termination of the backstop agreement; and the termination of the restructuring support agreement. Through the RSA, the Debtors secured the support of key creditor groups for their restructuring pursuant to a joint prepackaged Chapter 11 plan of reorganization filed on June 30. The RSA aims to cut the Debtors' funded debt from $6.749 billion to approximately $2.118 billion. The key creditor groups supporting the Debtors' restructuring include (i) the ad hoc group of senior secured noteholders that collectively own or control more than 97% of the aggregate outstanding principal amount of the senior secured notes; (ii) the ad hoc group of unsecured noteholders that collectively own or control more than 67% of the aggregate outstanding principal amount of the convertible notes; and (iii) Renesas Electronics America Inc. which owns or controls 100% of the outstanding principal amount of loans under the Customer Refundable Deposit Agreement. Another termination event is the Debtors' failure to meet any of these milestones: 1. At or prior to 11:59 p.m. Central Time on the date that is 45 days after the petition date, the court must have entered the final cash collateral order. 2. At or prior to 11:59 p.m. Central Time on the date that is 75 calendar days following the petition date, the court must have entered an order approving the disclosure statement. 3. At or prior to 11:59 p.m. Central Time on the date that is 75 calendar days following the petition date, the court must have entered the backstop order. 4. At or prior to 11:59 p.m. Central Time on the date that is 75 calendar days following the petition date, the court must have entered the plan confirmation order. 5. At or prior to 11:59 p.m. Central Time on the Outside Date, consummation of the plan must have occurred. Adequate Protection As adequate protection, U.S. Bank and the senior secured noteholders will be granted valid, fully perfected, nonavoidable, first-priority senior and replacement security interests in and liens on their pre-bankruptcy collateral and all other assets of the Debtors, including those acquired by the Debtors after the petition date. These adequate protection liens are subject to a carveout for professional fees and expenses. In case of any diminution in the value of their collateral, U.S. Bank and the senior secured noteholders will be granted allowed superpriority administrative expense claims ahead of and senior to all other administrative expense claims, junior only to the carveout. Moreover, the Debtors were directed to pay in full in cash professional fees, expenses and disbursements incurred prior to the petition date by U.S. Bank and the bankruptcy professionals advising the ad hoc senior secured group, including Moelis & Company, as financial advisor, Paul, Weiss, Rifkind, Wharton & Garrison LLP, as primary bankruptcy counsel, and Porter Hedges LLP, as local counsel Additional protection includes ongoing interest payments, financial reporting and maintenance of financial covenants such as covenants from the Debtors to (i) not allow actual cash receipts or actual disbursements exceed the permitted variances, (ii) maintain "qualified cash" above the minimum liquidity threshold, (iii) not allow capital expenditures to exceed $200 million for the period between the petition date and the effective date of the reorganization plan. The bankruptcy court will hold a final hearing on August 6. The deadline for filing objections is on July 30. The Debtors are manufacturers of silicon carbide and gallium nitride semiconductors for electric vehicles, telecom, and defense, operates facilities in North Carolina, New York, and Arkansas. As of the petition date, the Debtors' capital structure includes approximately $1.525 billion in senior secured notes due June 2030. The Debtors also have three series of unsecured convertible notes outstanding: (i) $577 million in 1.75% convertible senior notes due 2026, (ii) $751 million in 0.25% convertible senior notes due 2028, and (iii) $1.769 billion in 1.875% convertible senior notes due 2029, all issued with U.S. Bank as trustee. In addition, Wolfspeed has unsecured loans from Renesas totaling approximately $2.127 billion under the deposit agreement. Other liabilities include $259 million in trade claims and $45 million in general unsecured claims. 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 U.S. 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. Renesas Electronics Corporation, as lender, is represented by: Steven N. Serajeddini, P.C. KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 601 Lexington Avenue New York, NY 10022 Telephone: (212) 446-4800 steven.serajeddini@kirkland.com Yusuf Salloum Claire Stephens KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 333 West Wolf Point Plaza Chicago, IL 60654 Telephone: (312) 862-2000 yusuf.salloum@kirkland.com claire.stephens@kirkland.com -- and -- Charles A. Beckham, Jr. David Trausch Re'Necia Sherald HAYNES AND BOONE, LLP 1221 McKinney Street, Suite 4000 Houston, TX 77010 Telephone: (713) 547-2000 charles.beckham@haynesboone.com david.trausch@haynesboone.com renecia.sherald@haynesboone.com WOLFSPEED INC: Seeks to Hire Epiq as Claims and Noticing Agent -------------------------------------------------------------- Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Epiq Corporate Restructuring LLC as claims, noticing and solicitation agent. Epiq will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. The firm received an advance payment of $25,000 from the Debtors. Kathryn Tran, director at Epiq Corporate Restructuring, 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: Kathryn Tran Epiq Corporate Restructuring, LLC 777 Third Avenue, 12th Floor New York, NY 10017 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. WOODCREST CONDOMINIUMS: Seeks Chapter 11 Bankruptcy in D.C. ----------------------------------------------------------- On July 9, 2025, Woodcrest Condominiums IX LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Columbia. 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 Woodcrest Condominiums IX LLC Woodcrest Condominiums IX LLC is a residential real estate company that appears to develop or manage condominium properties in Washington, DC, operating under the Woodcrest Villas brand. The company maintains its principal place of business at 454-460 Woodcrest Drive SE in Washington, DC, with its primary operations in residential building construction as indicated by its NAICS code 2361. Woodcrest Condominiums IX LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00265) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Brent C. Strickland, Esq. at Whiteford Taylor & Preston L.L.P. WOODHILL NC: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Woodhill NC, LLLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of North Carolina, Durham Division, to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral for essential business expenses as outlined in the budget, with expenditures exceeding 10% of any line item requiring court approval. The Debtor projects total operational expenses of $65,714.66 for July and August. The Debtor has several secured creditors with potential claims on its cash collateral, including TowneBank (with a $7.45 million loan secured by real estate and rental income), Angela and Gary Hill (with a $1 million loan), Brian and Moyra Kileff (with loans totaling up to $6.8 million), and the U.S. Small Business Administration (with a $79,000 COVID-19 EIDL loan). As protection for any diminution in value of cash collateral utilized by the Debtor, secured creditors will be granted a continuing post-petition replacement lien and security interest in all property and categories of property of the same extent, validity, and priority as said creditor held pre-petition. As further protection, TowneBank will continue to receive a monthly payment of $16,965.24 from the Debtor. A final hearing is scheduled for September 4. The Debtor owns and operates a fully leased commercial shopping center known as "South Green" in Carrboro, North Carolina. The shopping center generates approximately $75,000 per month in rental income, which is the Debtor's sole source of operating revenue. As of the petition date, the Debtor held approximately $166,740 in cash and intends to continue collecting rental income post-petition to maintain business operations. About Woodhill NC Woodhill NC, LLLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-80120) on May 20, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Brian Kileff, manager of Woodhill NC, signed the petition. Judge Lena M. James oversees the case. Joseph Z. Frost, Esq., at Buckmiller & Frost, PLLC, represents the Debtor as legal counsel. WORLD BRANDS: Hires Branch Creek Capital Inc. as Accountant ----------------------------------------------------------- World Brands, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Branch Creek Capital, Inc. as accountant. The firm will prepare the Debtor's 2024 and 2025 Federal Income Tax Returns. The firm will be paid at $250 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. David B. Johnson, a partner at Branch Creek Capital, Inc., 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 B. Johnson Branch Creek Capital, Inc. 990r Saddle Road, Tampa, FL 33626 Tel: (813) 928-1235 About World Brands World Brands, Inc. focuses on custom printed paper packaging. Additionally, the company offers private label products, tailored packaging solutions, and book printing services. World Brands sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No.: 25-12653) on March 12, 2025. In its petition, the Debtor reported total assets of $2,357,099 and total Liabilities of $3,692,774. Judge Corali Lopez-Castro handles the case. The Debtor is represented by Daniel R. Fogarty, Esq., at Stichter, Riedel, Blain, & Postler P.A. WW INTERNATIONAL:S&P Assigns 'B-' ICR on Emergence From Bankruptcy ------------------------------------------------------------------ S&P Global Ratings assigned its 'B-' issuer credit rating to New York-based WW International Inc. S&P said, "At the same time, we assigned our 'B-' issue-level rating and '3' recovery rating to the company's senior secured $465 million term loan maturing in 2030, reflecting meaningful recovery in the event of a default (50%-70%; rounded estate 65%). Currently, the company does not have a revolver outstanding. However, the credit agreement permits WW to add up to a $125 million revolving credit facility, which could be senior to the term loan, potentially reducing recovery value for term loan lenders. We will reassess our recovery if the company enters into an agreement. "The stable outlook reflects our expectation that S&P Global Ratings-adjusted leverage will remain mid-3x over the next 12 months, with EBITDA interest coverage comfortably above 1.5x. It also reflects our expectation that WW will begin to generate positive FOCF in the second half of 2025 and thereafter." WW emerged from bankruptcy on June 24, 2025, after it filed for Chapter 11 protection on May 6, 2025. The restructuring reduced WW's pre-petition debt to $465 million from $1.6 billion and improved its liquidity position. The 'B-' rating reflects WW's reduced debt load, lower interest burden, and positive free operating cash flow (FOCF). Upon its emergence from bankruptcy, the company reduced its gross debt to $465 million from $1.6 billion, leading to pro forma S&P Global Ratings-adjusted leverage of about 3.4x, compared to leverage over 10x prior to the bankruptcy. S&P expects annualized interest expense of about $51 million considering 2025 SOFR, down from $107 million in 2024, which should sustain EBITDA interest coverage comfortably above 1.5x. WW's new capital structure with reduced interest expense provides greater financial flexibility to generate FOCF of at least $40 million annually, with its asset-light business model. S&P said, "Under our base case, we expect S&P Global Ratings-adjusted debt to EBITDA of 3.4x in 2025 with annualized EBITDA interest coverage above 2x. This is a notable improvement compared to debt to EBITDA of 11x and interest coverage of 1.3x for the last-12-months ended March 29, 2025. In additional to the significant debt reduction which improves credit metrics, we forecast a modest EBITDA increase in 2025 driven by reduced G&A from headcount cuts implemented in 2024, and lower marketing spending amid a strategic shift toward more effective platforms like social media. We expect modest cost-cutting efforts to improve operating efficiency over the next 12 months, though we do not anticipate robust restructuring following several years of elevated costs. We forecast WW will generate about $53 million in the second half of 2025, leading to $170 million of cash on hand at year-end 2025 compared to $117 million pro forma for the transaction. "Revenue will continue to decline due to continued subscriber declines in the digital and workshop segments, in our view. In 2025, we anticipate revenue will decline 11% compared to 11.6% in 2024 due to overall declining brand loyalty and reputation for WeightWatchers as new brands emerge, coupled with an aging demographic of existing subscribers. However, in 2026 we expect revenue decline will improve to 6.5% driven by higher pricing and greater clinical segment growth. In 2026, we expect a shift away from historical discounting, with pricing for digital and workshop offerings remaining stable or trending upward. However, this strategy may heighten subscriber losses due to price sensitivity, especially in a weaker macroeconomic environment with numerous competing weight loss options. "We expect profitability to decline in 2026. In 2026, we expect EBITDA to decline approximately 15%, driven by gross margin contraction as clinical sales, which are lower margin given high costs of clinicians, make up a larger share of revenue. Additionally, we expect greater investment in the business in 2026 to drive growth following the launch of new programs and expanded distribution through partnerships. Despite this, we project WW will likely generate around $46 million of FOCF, benefiting from a full year of lower interest expense and the absence of major transaction or restructuring charges." However, credit metrics should improve in 2026 due to mandatory debt repayment provisions. The new term loan facility requires 100% of unrestricted cash on hand that exceeds $100 million to repay the term loan. This begins on June 24, 2026, and we expect the company to make debt repayments on that date annually thereafter (which is the company's seasonal low point for cash flow); the debt cannot be prepaid at other times during the year. If performance falls short and cash on hand remains near or below $100 million, credit metrics could deteriorate. In 2026 S&P forecasts debt to EBITDA of 3.1x and interest coverage of 2.8x after debt repayment. WW's operating performance relies heavily on scaling its clinical business, which is a risk given high competition, evolving dynamics with pharmaceutical companies, and regulatory constraints. In April 2023, WW acquired Weekend Health Inc. (doing business as Sequence). While viewed as a potential credit positive at the time, initial adoption was slower than expected due to GLP-1 supply shortages and high prices of branded drugs, limited consumer awareness, and WW's early decision not to offer compounded medications--an area where competitors gained market share. WW reversed this stance in late 2024, introducing compounded options amid ongoing branded shortages, which drove a 43,000 subscriber increase in the first quarter of 2025--its strongest clinical subscriber gain to date. However, with branded supply now stabilized and the FDA's ban on compounded GLP-1s effective as of May 22, 2025, S&P expects WW to discontinue compounded offerings, which will result in clinical subscriber declines through the remainder of 2025. To grow clinical, WW will focus on increasing awareness of its clinical platform to drive subscriber growth and thus overall revenue, expanding distribution through big pharma and employer partnerships, and expanding into adjacent weight-related clinical categories, like women's health. S&P said, "We continue to expect WW's clinical strategy to focus on converting users to lower-cost behavioral programs post-medication, which supports EBITDA through more efficient customer acquisition. Still, given the relatively small clinical base, we don't expect this to fully offset ongoing declines in other segments for several years." Notably, WW recently partnered with Novo Nordisk and Eli Lilly to expand access to Wegovy and Zepbound through its WeightWatchers Clinic. However, access to medication is not exclusive to WW. While this is a positive development which may lead to greater clinical subscriber growth, the landscape around weight loss drugs and big pharma remains new and rapidly evolving. WW's success appears increasingly dependent on favorable developments in this space, which is a risk. Ultimately, while WW's financial profile has improved, secular pressures and high competition continue to pose signficant risk. Revenues and subscribers have declined steadily since 2019, with annual revenue falling 10%-15% each year since 2021, following single-digit percent declines in prior years. The company has struggled to compete with newer brands and has frequently shifted its strategy to stay relevant, leading to the WeightWatchers brand losing traction with Millennials and Gen Z while its core demographic continues to age out. More recently, the rise of GLP-1 weight loss drugs has accelerated these declines. In 2025, S&P expects WW to be roughly half its 2019 size, with projected revenue of about $700 million and EBITDA of $146 million, compared to $1.4 billion and $400 million, respectively, in 2019. As of March 31, 2025, total subscribers stood at approximately 3.4 million--the lowest first-quarter level in several years, compared to the typical 4 million subscribers or more. Moreover, first-quarter subscriber growth in 2025 was just 100,000, well below the historical 400,000–500,000 net increase, reflecting weaker new member acquisition given alternatives like competing brands, do-it-yourself approaches, and weight loss drugs. In 2026, S&P projects first-quarter subscribers will fall further to 2.9 million; however, subscriber declines could be greater than we forecast given uncertainty in the successfulness of the company's new strategy, and its ability to slow declines. These trends may contribute to continued underperformance, weaker credit metrics, and diminished cash flow over time. S&P said, "The stable outlook reflects our expectation that WW's S&P Global Ratings-adjusted leverage will remain mid-3x over the next 12 months, with EBITDA interest coverage comfortably above 1.5x. It also reflects our expectation that WW will begin to generate positive FOCF in the second half of 2025 and thereafter. "We could lower the rating if we expect WW's EBITDA interest will decline below 1.5x or if it cannot generate sustainable positive FOCF, resulting in its capital structure becoming unsustainable." This could occur if: -- The clinical business fails to scale sufficiently to offset ongoing declines in digital and workshop revenue, or subscriber declines in digital and workshop are steeper than expected, pressuring gross margins as the lower-margin clinical segment grows in mix; -- Operating expenses exceed expectations, including higher marketing or restructuring charges; or -- Weaker cash flow delays planned debt repayment. While unlikely over the next 12 months, S&P could raise the rating if it expects EBITDA interest coverage to be sustained above 3x. This could occur if: -- Revenue improves from a substantial increase in clinical subscribers potentially from new business partnerships, and expansion into adjacent categories; and -- The company successfully repays debt from cash and reduces its interest burden. S&P could also raise the rating if uncertainty in the business diminishes, demonstrated through solid growth in the clinical segment that also translates to improving subscriber trends in the core digital and workshop segments. XYZ HOME: Ch. 11 Affiliate Taps Keller Williams Realty as Broker ---------------------------------------------------------------- B&H SFR, LLC, an affiliate in the Chapter 11 cases of XYZ Home Buyers LLC, seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to employ Keller Williams Realty Augusta Partners as real estate broker. The Debtor needs a broker to market and sell its property located at 2028 Wharton Drive Augusta, Georgia. The broker will receive a commission of 3.5 percent of the property's gross purchase price. Joseph Lewis, a real estate agent at Keller Williams Realty Augusta 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 through: Joseph Lewis Keller Williams Realty Augusta Partners 3633 Wheeler Rd., #125 Augusta, GA 30909 Telephone: (706) 868-3772 About XYZ Home Buyers XYZ Home Buyers, LLC, manages multiple residential rental properties. XYZ Home Buyers and its affiliates filed their Chapter 11 bankruptcy petitions (Bankr. M.D. Ga. Lead Case No. 25-40081) on Feb. 7, 2025, listing up to $500,000 in both assets and liabilities. James Bell, chief restructuring officer, signed the petitions. Judge John T. Laney, III, oversees the cases. Thomas McClendon, Esq., at Jones & Walden LLC serves as the Debtors' counsel. YELLOW CORP: Sells 4 Terminals for $3.95 Million ------------------------------------------------ Todd Maiden of Freight Waves reports that several real estate investors have agreed to purchase four former Yellow Corp. terminals for a combined $3.95 million, according to a recent filing in the U.S. Bankruptcy Court in Delaware. The bankrupt less-than-truckload (LTL) carrier has sold off more than 200 terminals, generating approximately $2.4 billion since filing for Chapter 11 in 2023, according to the report. The latest properties being sold include a 50-door terminal in Birmingham, Alabama, valued at $1.55 million; a 30-door terminal near Pittsburgh for $1.53 million; a 29-door facility in Columbia, South Carolina, priced at $650,000; and a 12-door terminal in Fairfield, Maine, for $225,000. No LTL carriers appear to be involved in these transactions, according to Freight Waves. Proceeds from the sales will go toward satisfying claims against Yellow's estate, including those related to employee paid time off, sick leave, and claims under the Worker Adjustment and Retraining Notification (WARN) Act, the report states. In March, the Teamsters union appealed a prior court decision that released Yellow from WARN Act liability, according to report. As of the end of May, Yellow's estate reported holding $621 million in cash and has spent over $165 million on legal and advisory fees since the start of its liquidation, the report states. About Yellow Corporation Yellow Corporation -- www.myyellow.com -- operates logistics and less-than-truckload (LTL) networks in North America, providing customers with regional, national, and international shipping services throughout. Yellow's principal office is in Nashville, Tenn., and is the holding company for a portfolio of LTL brands including Holland, New Penn, Reddaway, and YRC Freight, as well as the logistics company Yellow Logistics. Yellow Corporation and 23 affiliates concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11069) on August 6, 2023, before the Hon. Craig T. Goldblatt. As of March 31, 2023, Yellow Corp had $2,152,200,000 in total assets against $2,588,800,000 in total liabilities. The petitions were signed by Matthew A. Doheny as chief restructuring officer. Kirkland & Ellis LLP is serving as the Company's restructuring counsel, Pachulski Stang Ziehl& Jones LLP is serving as the Company's Delaware local counsel, Kasowitz, Benson and Torres LLP is serving as special litigation counsel, Goodmans LLP is serving as the Company's special Canadian counsel, Ducera Partners LLC is serving as the Company's investment banker, and Alvarez and Marsal is serving as the Company's financial advisor. Epiq Bankruptcy Solutions serves as claims and noticing agent. Milbank LLP, serves as counsel to certain investment funds and accounts managed by affiliates of Apollo Capital Management, L.P. White & Case LLP, serves as counsel to Beal Bank USA. Arnold & Porter Kaye ScholerLLP, serves as counsel to the United States Department of the Treasury. Alter Domus Products Corp., the Administrative Agent to the DIP Lenders, is represented by Holland & Knight LLP. [] Bankrupt US Small Firms Bound by Debt Discharge Limitations -------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that companies reorganizing under Subchapter V of Chapter 11 -- designed for small businesses -- cannot discharge debts arising from willful or malicious conduct, a third federal appeals court has ruled. In a published decision Wednesday, July 9, 2025, the U.S. Court of Appeals for the Eleventh Circuit held that the Small Business Reorganization Act of 2019 does not permit either individual or corporate debtors to eliminate debts barred from discharge under Section 523 of the Bankruptcy Code. The ruling pushes back on some bankruptcy courts' interpretations of Subchapter V, which had allowed corporate debtors to sidestep certain discharge restrictions. [] Bankruptcies Led to Closure of About 350 Restaurants in 2024 --------------------------------------------------------------- Restaurant Business reports that bankruptcies took a significant toll on the full-service restaurant industry in 2024, leading to the closure of 348 sit-down dining locations, according to data from Technomic. These closures represented about 1.3% of all full-service restaurants included in the firm's Top 500 U.S. chains. The majority of closures came from TGI Fridays and Red Lobster, which filed for Chapter 11 bankruptcy last year and shut down 134 and 131 locations, respectively. Hooters, which filed in March 2025, closed 41 stores in 2024 and has since shuttered another 30 this year. On the Border and Buca di Beppo each closed over 20 locations before entering bankruptcy. These closures marked the end of a three-year stretch of growth among Top 500 full-service chains following the COVID-19 pandemic, according to Restaurant Business. More than 16 restaurant companies filed for bankruptcy in 2024, driven by a combination of soaring costs, reduced customer visits, and lingering pandemic-related debt. Full-service chains were especially hard-hit, with Red Lobster and TGI Fridays representing the year's largest bankruptcies. Such filings often trigger widespread closures as companies cut costs and restructure operations. The decline isn't entirely unexpected. The full-service sector has been under pressure for years, with more diners opting for takeout or fast-casual alternatives. As of January 2025, nearly 75% of restaurant visits were off-premise, according to the National Restaurant Association. The trend extends beyond 2024. Technomic reports that the number of full-service restaurants has declined in four of the past five years and is now nearly 18% smaller than in 2019, when there were close to 349,000 such establishments in the U.S. The contraction wasn't limited to bankrupt brands. Denny's closed 73 locations, Frisch's Big Boy shut down 57 -- over 60% of its total footprint -- and Applebee's ended the year with 35 fewer units, continuing a nine-year streak of net closures. Even Chili's, one of the stronger performers in the segment, closed 21 locations in 2024, according to report. Despite the setbacks, early signs of recovery have emerged in 2025. Chains like Chili's, Texas Roadhouse, and Olive Garden are seeing strong performance, with same-store sales among publicly traded casual-dining brands rising 0.6% in the first quarter—outpacing the overall industry decline of 0.17%, the report states. "Consumers are recognizing the value casual dining offers," said Darden Restaurants CEO Rick Cardenas during an earnings call. "They're willing to spend their hard-earned money, and we believe we're gaining share from fast food and fast casual." [] BOOK REVIEW: Bendix-Martin Marietta Takeover War --------------------------------------------------- MERGER: The Exclusive Inside Story of the Bendix-Martin Marietta Takeover War Author: Peter F. Hartz Publisher: Beard Books Soft cover: 418 pages List Price: $34.95 Review by Gail Owens Hoelscher http://www.beardbooks.com/beardbooks/merger.html William Agee, the youngest man ever to head one of the top 100 American corporations, seemed unstoppable. In 1977, at the age of 39, he took over Bendix Corporation, an aerospace, automotive, and industrial firm, determined to diversify the company out of the automotive industry. In his words, "Automobile brakes are in the winter of their life and so is the entire automobile industry." He sold off a few Bendix units, got some cash together, and began to look for acquisitions. Then Agee's relationship with Mary Cunningham burst into the news. Agee had promoted Cunningham from his executive assistant to vice president, to the outrage of other Bendix employees. Their affair, replete with power, brains, youth, good looks, charm, denial, and deceit, fascinated the American public. Cunningham was forced to leave Bendix to work for Seagrams, with the entire country wondering just how well she would do. The two divorced their respective spouses and married soon thereafter. To the chagrin of many, Cunningham continued to play a pivotal role in Bendix affairs. Eager to regain his standing, Agee turned to acquisition as soon as the gossip died down. A failed attempt to acquire RCA left him more determined than ever. He then set his sights on Martin-Marietta, an undervalued gem in the 1982 stock market slump. Thus began an all-out war of tenders and countertenders, egoism and conceit, half-truths and dissimulation, and sudden alliances and last-minute court decisions. This is a very exciting account of the war's scuffles, skirmishes, and battles. The author, son of a long-time Bendix director, was able to interview some of the major participants who most likely would have refused the requests of other authors. Some gave him access to personal notes from the various proceedings. The author thoroughly researched the documents involved in the takeover war, as well as news reports and press releases. He explains the complicated legal maneuverings very clearly, all the while keeping the reader entertained with the personal lives and thoughts of the players. People love this book. The New York Times Book Review said "Aggression and treachery, hairbreadth escapes and last-minute reversals, "white knights" and "shark repellants" -- all of these and more can be found in the true-life adventure of the Bendix-Martin Marietta merger war." The Wall Street Journal said "Merger brims with tension, authentic-sounding dialogue and insider detail." Peter F. Hartz was born in Toronto, Canada, in 1953, and moved to the U.S. as a child. He holds degrees from Colgate University and Brown University. He lives in Toluca Lake, California. ********* 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. 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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 ***