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250811.mbx T R O U B L E D C O M P A N Y R E P O R T E R Monday, August 11, 2025, Vol. 29, No. 222 Headlines 137 FALMOUTH: Case Summary & Eight Unsecured Creditors 1524 CC RD: Seeks to Tap Woods Rogers Vandeventer Black as Counsel 1993 GREEN: Seeks Chapter 11 Bankruptcy in California 26 BOWERY LLC: 2 Bowery Must Pay Buyer's Premium to Northgate 301 W NORTH: Court Extends Cash Collateral Access to Sept. 30 3910 ENTERPRISES: Seeks Chapter 11 Bankruptcy in Texas 4 POINTS TOWING: Case Summary & 20 Largest Unsecured Creditors 4069-4089 MINNESOTA: Trustee Taps Barry Strickland as Accountant 5TH AVENUE: Seeks to Hire BFSNG Law Group as Bankruptcy Counsel 875 CONLEY CV22: Seeks Chapter 11 Bankruptcy in New York A&F USA PROPERTIES: Seeks to Hire The Smeberg Law Firm as Counsel ABLENVIRONMENTAL LLC: Seeks to Tap Middlebrooks Shapiro as Counsel ACCURADIO LLC: Seeks to Hire Jeffrey Jarmuth as Special Counsel ACTIVE WORLD: Unsecured Creditors to be Paid in Full in Plan ACUTE HVACR: Unsecureds Will Get 3.2% of Claims in Plan ADELAIDA CELLARS: Claims to be Paid from Asset Sale Proceeds ADVANCED TRENCHLESS: Court OKs Deal to Use Cash Collateral AGDP HOLDING: Seeks Chapter 11 Bankruptcy in Delaware ALACHUA GOVERNMENT: Taps Jefferies LLC as Investment Banker ALEXANDER PLASTICS: Voluntary Chapter 11 Case Summary ALL AMERICAN: Claims to be Paid from Business Operations AMERIFIRST FINANCIAL: Proposes Global Settlement in Ch. 11 Case ANCIOM LLC: Unsecureds Will Get 8.69% of Claims over 36 Months ANTONIO MUNOZ: Voluntary Chapter 11 Case Summary APOGEE BREWING: Seeks Chapter 11 Bankruptcy in Texas ARCHDIOCESE OF NEW ORLEANS: Court Sets Nov. Ch. 11 Plan Hearing ARCHDIOCESE OF NEW ORLEANS: Unsecureds Will Get 1% of Claims ARIS WATER: S&P Places 'B+' ICR on 'B+ CreditWatch Positive ASCEND PERFORMANCE: Taps Deloitte as Tax Advisory Services Provider ASSURE AFFORDABLE: Case Summary & Six Unsecured Creditors ASTRO ACQUISITION: Fitch Assigns 'B' LongTerm IDR, Outlook Stable AT HOME: Creditors' Committee Slams Chapter 11 Plan Disclosures ATLANTIC NATURAL: Court OKs Food Equipment Sale to Moody Dunbar BALL CORP: S&P Rates New $750MM Senior Unsecured Notes 'BB+' BESPOKE CONSTRUCTION: Hires Hester Baker Krebs LLC as Attorney BEST CHEER: Seeks Approval to Hire Braunco.com as Appraiser BIG LOTS: Reaches Deal with Gordon Bros. on HQ Sale Funds BMI OLDCO: Hires Togut Segal & Segal LLP as Bankruptcy Counsel BMI OLDCO: Seeks to Hire Norton Rose Fulbright as Special Counsel BRIGGS BROTHERS: Seeks Chapter 11 Bankruptcy in Louisiana BROOK + WHITTLE: Enters Negotiations w/ Lenders for Fresh Funding CASH CLOUD: Court Affirms Ruling on McAlary's Plan Objection CASH CLOUD: Denial of McAlary's Chapter 7 Conversion Bid Affirmed CBRM REALTY: Taps Hilco Real Estate as Real Estate Advisor CBRM REALTY: Taps Larry G. Schedler as Real Estate Broker CHICAGO SMILES: Court Extends Cash Collateral Access to Sept. 5 CMC ADVERTISING: Court Extends Cash Collateral Access to Oct 10 COLES OF LA: Seeks to Sell Hino Box Truck to Highest Bidder CONCRETE TRUTH: Unsecured Creditors to be Paid in Full in Plan CONTAINER STORE: Struggles with Debt COSTELLO SR.-ALLEN: Unsecured Creditors to Split $79K in Plan CTF CHICAGO: Court Extends Cash Collateral Access to Aug. 31 CUBCOATS ACQUISITION: M. Douglas Flahaut Named Subchapter V Trustee CUBCOATS ACQUISITION: Seeks Subchapter V Bankruptcy in California CYPRESSWOOD SPRING: Gets Extension to Access Cash Collateral DESKTOP METAL: U.S. Trustee Appoints Creditors' Committee DISTRICT 7 GRILL: Section 341(a) Meeting of Creditors on Sept. 9 DOUBLESHOT HOLDINGS: Gets OK to Use Cash Collateral Until Sept. 11 DVAC HEATING: Gets Final OK to Use Cash Collateral ELENAROSE CAPITAL: Coal Asset Sale to Bulk Acquisition OK'd EMBER DRIVE CV2021: Seeks Chapter 11 Bankruptcy in New York ENI DIST: Seeks Chapter 11 Bankruptcy in Maryland ETROG PROPERTIES: Taps FIA Capital Parters as Restructuring Advisor ETROG PROPERTIES: Taps Goldberg Weprin Finkel Goldstein as Counsel EVENTIDE CREDIT: Creditors Want Trustee to Oversee Chapter 11 Case EVERSTREAM SOLUTIONS: Secures Court OK for $385MM Chapter 11 Sale EYM CAFE: Seeks Chapter 11 Bankruptcy in Texas FAIR OFFER: To Sell Vina Property to Benjiman & Kimberley Moredock FALCON CONLEY CV20 LLC: Seeks Chapter 11 Bankruptcy in New York FELTRIM BALMORAL: Seeks Approval to Tap Angela Welch as Accountant FIBRE-TECH INC: Gets Final OK to Use Cash Collateral FIRST CLASS: Gets Extension to Access Cash Collateral FLAGSHIP RESORT: Gets Court Okay for Chapter 11 Sale FLOATUS INC: Gets Final Approval to Use Cash Collateral FRISCO BAKING: Gets Interim OK to Modify Cash Collateral Budget FWAK LLC: Voluntary Chapter 11 Case Summary GENESIS HEALTHCARE: Seeks to Hire Ordinary Course Professionals GIBSON INC: S&P Downgrades ICR to 'B-', Outlook Negative GILLETTE ENTERPRISES: Gets Extension to Access Cash Collateral GLOBAL PREMIER: Unsecureds Will Get 100% of Claims in Plan GRANT PARK: Section 341(a) Meeting of Creditors on September 11 GREATER LIFE: John Rhyne Named Subchapter V Trustee GREATER LIFE: Section 341(a) Meeting of Creditors on September 15 GREATER LIGHT: Case Summary & Five Unsecured Creditors HARDING BELL: Gets Interim OK to Use Cash Collateral Until Sept. 30 HARP AND CLOVER: Seeks Approval to Tap Jason D. Gray as Accountant HEAVENLY HOGS: Seeks to Hire Tom Bible Law as Bankruptcy Counsel HL PIT STOP: Case Summary & 20 Largest Unsecured Creditors HPC VINEBURN: Case Summary & Five Unsecured Creditors HRHI WIND-DOWN: To Sell Employee Retention Credits INDIAN CREEK: Seeks to Hire Kutner Brinen Dickey Riley as Counsel INNOVATE CORP: S&P Upgrades ICR to 'CCC', Outlook Negative IWC OIL: Seeks to Hire Cennamo and Werner as Bankruptcy Counsel J INTERNATIONAL: Case Summary & 17 Unsecured Creditors J&D CUSTOMS: Seeks to Hire Joseph R. Seimer CPA as Accountant J.D. SAC CONSULTING: Gets Final OK to Use Cash Collateral J4G LLC: Jarrod Martin Named Subchapter V Trustee JERK PIT: Gets Final OK to Use Cash Collateral JUS BROADCASTING: Court Extends Cash Collateral Access to Nov. 7 KDZ REALTY: Seeks to Hire Conway Law Group as Bankruptcy Counsel KEHE DISTRIBUTORS: S&P Downgrades ICR to 'B', Outlook Stable KOZUBA & SONS: Gets Interim OK to Use Cash Collateral Until Aug. 21 L.D. LYTLE: Gets Interim OK to Use Cash Collateral LAID RIGHT: Seeks to Hire Johnsons Accounting as Accountant LAKE COUNTY: Court Extends Cash Collateral Access to Aug. 28 LEGACY NORTH: Seeks Chapter 7 Bankruptcy w/ Up to $10MM Debt LINQTO TEXAS: Hires Sullivan & Cromwell as Corporate Counsel LINQTO TEXAS: Seeks to Hire Jefferies LLC as Investment Banker LINQTO TEXAS: Seeks to Hire Katten Muchin Rosenman LLP as Counsel LINQTO TEXAS: Seeks to Hire Schwartz PLLC as Bankruptcy Counsel LINQTO TEXAS: Seeks to Hire Triple P RTS as Restructuring Advisor LINQTO TEXAS: Taps Jeffrey S. Stein of Breakpoint Partners as CRO LION RIBBON: Seeks to Hire Latham & Watkins as Bankruptcy Counsel LION RIBBON: Taps Huron as Financial Advisor and Investment Banker LYNNHAVEN SCHOOL: Jennifer McLemore Named Subchapter V Trustee M & M BUCKLEY: Court Extends Cash Collateral Access to Aug. 28 MACHINE TOOL: To Sell Terre Haute Properties to Curtis J. Grayless MARIN SOFTWARE: Unsecureds Will Get 100% of Claims in Plan MARKUS CORP: Court Extends Cash Collateral Access to Sept. 3 MAYFAIR-HABITAT GROUP: Hires EXp Realty LLC as Real Estate Agent MEANDERING BEND: Section 341(a) Meeting of Creditors on September 2 MEATHEADZ LLC: Seeks to Hire Ajay Kumar, CPA as Accountant MEMPHIS MADE: Case Summary & 20 Largest Unsecured Creditors MERIT STREET: Professional Bull Riders Out as Committee Member MERIT STREET: Trinity Network Seeks Dismissal of Venture Lawsuit MICHAEL E JONES MD: Voluntary Chapter 11 Case Summary MODEL TOBACCO: Gets Final OK to Use Cash Collateral Until Dec. 31 MODERN FLOOR: Seeks Chapter 11 Bankruptcy in California MOLINA VENTURES: Section 341(a) Meeting of Creditors on Sept. 11 MOM CA: Final Hearing to Use Cash Collateral Set for Aug. 14 MOSAIC SUSTAINABLE: Files Amendment to Disclosure Statement MP COMPLETE: Seeks Chapter 11 Bankruptcy in Florida NATIONAL FOOD: Seeks to Hire Patrick J. Gros CPA as Accountant NAUTICA'S EDGE: Taps Virtual Properties Realty.Biz as Estate Broker NEAR INTELLIGENCE: Former Execs Accused in $25MM Fraud NEDDY LLC: Court Extends Cash Collateral Access to Sept. 30 NEW REDBIRD: Seeks Chapter 11 Bankruptcy in Oklahoma ORB ENERGY: Seeks Chapter 11 Bankruptcy in Texas OSTENDO TECHNOLOGIES: Hires Sherwood as Restructuring Advisor OUTER AISLE: Taps Winthrop Golubow Hollander as Insolvency Counsel PALMAS ATHLETIC: Section 341(a) Meeting of Creditors on September 8 PARLEMENT TECHNOLOGIES: Gets Chap. 11 Liquidation Plan Confirmation PENNYMAC FINANCIAL: S&P Rates New $650MM Sr. Unsecured Notes 'B+' PHILLIPS TOTAL: Hires Carmichael & Quartemont as Counsel PLAZA UTILITIES: Seeks Chapter 11 Bankruptcy in Indiana PORCELANATTO CORP: Seeks to Hire Mendez Law Offices as Counsel POSH QUARTERS: Voluntary Chapter 11 Case Summary POWIN LLC: Committee Taps Brown Rudnick LLP as Co-Counsel POWIN LLC: Committee Taps Genova Burns LLC as Local Co-Counsel POWIN LLC: Secures Court Approval for $54MM Asset Sales PPS PROPERTY 8-10: Taps Robert C. Nisenson as Bankruptcy Counsel R.W. SIDLEY: U.S. Trustee Unable to Appoint Committee RB BIOSCIENCE: Seeks Chapter 11 Bankruptcy in Oklahoma RCM LIVING ASSET: Section 341(a) Meeting of Creditors on Sept. 3 RENT-A-CHRISTMAS LLC: Jolene Wee Named Subchapter V Trustee RITE AID: Selects Med Pharmacy as Buyer of Pharmacy Assets ROOTED SUMMERVILLE: Seeks to Hire Tom Bible Law as Attorney ROSALIE WHITE: Leon Jones Named Subchapter V Trustee S&G HOSPITALITY: Court Extends Cash Collateral Access to Sept. 30 S.E.E.K ARIZONA: Seeks to Tap Price Kong & Co. as Tax Professional SALT LAKE CITY DISTILLERY: Seeks Cash Collateral Access SAMYS OC: Seeks Approval to Hire Varney & Associates as Accountant SASAS HOSPITALITY: Cash Collateral Hearing Set for Aug. 13 SCANDIA SPA: Taps Coldwell Banker Residential Brokerage as Realtor SEASONAL LANDSCAPE: Court Extends Cash Collateral Access to Aug. 31 SKY PROTOCOL: S&P Assigns 'B-' ICR, Outlook Stable SKYLINE EMS: Seeks to Hire Antonio Martinez Jr. as Legal Counsel SMALL FORTUNE: Gets Extension to Access Cash Collateral SNAP INC: S&P Rates New $500MM Senior Unsecured Notes 'B+' SOLID FINANCIAL: Seeks to Tap Omni Agent as Administrative Agent SOUTHERN AUTO: Court Extends Cash Collateral Access to Sept. 1 SOUTHERN EXPRESS: Seeks Chapter 11 Bankruptcy in North Carolina SOUTHWEST FIRE: Seeks to Tap Gatton & Associates as Legal Counsel SPEARMAN AEROSPACE: Court Extends Cash Collateral Access to Oct. 31 STAKEHOLDER MIDSTREAM: S&P Assigns 'B+' ICR, Outlook Stable STEWARD HEALTH: DOJ, Massachusetts Appeal Ch. 11 Bankruptcy Plan STORMS FAMILY: Seeks to Tap Coldwell Banker as Real Estate Broker SYNAPSE FINANCIAL: CFPB Preps Unrecovered Consumer Funds Complaint T-SHACK INC: Seeks to Hire Michael J. Harker as Bankruptcy Counsel TEHUM CARE: Creditors Allowed to Pursue Successor Liability Claims TELLICO RENTALS: Seeks Approval to Hire ReMax Excels as Realtor TJ TRUCKING: Court Extends Cash Collateral Access to Oct. 10 TLC MEDICAL: Seeks to Tap NAI Southcoast as Real Estate Broker TRACK BARN: Gets Final OK to Use Cash Collateral TRINITY INTEGRATED: Hires Scott A Harnden CPA PC as Accountant TURNER OAKWOOD: Seeks to Sell Raleigh Property at Auction TYLER 2 CONSTRUCTION: Hires Moon Wright & Houston as Counsel UGLYDUCKLINGRENO LLC: Hires Bruner Wright as Bankruptcy Counsel UNITED SITE: Lenders Rehire Advisers to Renew Debt Talks UPHEALTH HOLDINGS: Gets September Hearing on Ch. 11 Plan Approval VALHALLA LAND: Hires Valhalla Land to Provide Tax Services VALVES AND CONTROLS: Hires Kroll as Claims and Noticing Agent VEGAS TREASURES: Gets Final OK to Use Cash Collateral VIVA LIBRE: Claims to be Paid From Available Cash and Income VSM PROPERTIES: Seeks Court Approval to Tap ReMax Excels as Realtor WAG! GROUP: Seeks to Hire Triple P TRS as Restructuring Advisor WAG! GROUP: Taps Epiq Corporate as Administrative Advisor WAG! GROUP: Taps Young Conaway Stargatt as Bankruptcy Counsel WELLMADE FLOOR: Seeks Chapter 11 Bankruptcy in Georgia WELLMADE FLOOR: Seeks to Sell Floor Covering Manufacturing Assets WHITE VIOLET: Hires Ascendant Law Group as Bankruptcy Counsel WHITEEAGLE PROPERTIES: Seeks to Tap Mark J. Lazzo as Legal Counsel WILLIAMSON: Summary Judgment, Fee Award in Mitchell/Roberts Upheld WISDOM DENTAL: Case Summary & 20 Largest Unsecured Creditors WOLF MIDSTREAM: DBRS Confirms BB(high) Issuer Rating ********* 137 FALMOUTH: Case Summary & Eight Unsecured Creditors ------------------------------------------------------ Debtor: 137 Falmouth Street LLC 137 Falmouth Street Brooklyn, NY 11235 Business Description: 137 Falmouth Street LLC is a real estate lessor that owns a single-family residence at 137 Falmouth Street in Brooklyn, New York, listed as Block 8749 Lot 311. The property is currently valued at $1.3 million. Chapter 11 Petition Date: August 6, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-43810 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN P.C. 100 Merrick Road Suite 304W Rockville Centre NY 11570-4807 Tel: (516) 284-0900 E-mail: charles@cwertmanlaw.com Total Assets: $1,300,016 Total Liabilities: $1,281,790 Mark Taub signed the petition as chief restructuring officer. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/33XW6HI/137_Falmouth_Street_LLC__nyebke-25-43810__0001.0.pdf?mcid=tGE4TAMA 1524 CC RD: Seeks to Tap Woods Rogers Vandeventer Black as Counsel ------------------------------------------------------------------ 1524 CC RD LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Virginia to employ Woods Rogers Vandeventer Black PLC as counsel. The firm will render the following services: (a) advise the Debtor of its powers and duties in the distribution of property of its estates pursuant to the Bankruptcy Code and applicable law; (b) prepare on behalf of the Debtor necessary legal papers; (c) appear in court on behalf of the Debtor and in order to protect its interests before the court; and (d) perform all other legal services for the Debtor that may be necessary and proper in these proceedings. The firm's attorneys agreed to be paid at these discounted hourly rates: Michael Hastings $625 Justin Simmons $400 In addition, the firm will seek reimbursement for expenses incurred. Mr. Hastings disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael E. Hastings, Esq. Woods Rogers Vandeventer Black PLC 10 S. Jefferson Street, Suite 1800 Roanoke, VA 24011 Telephone: (540) 983-7568 Facsimile: (540) 322-3417 Email: mhastings@woodsrogers.com About 1524 CC RD LLC 1524 CC RD LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Va. Case No. 25-50402) on July 14, 2025, listing up to $10 million in both assets and liabilities. Michael E. Hastings, Esq., at Woods Rogers Vandeventer Black PLC represents the Debtor as counsel. 1993 GREEN: Seeks Chapter 11 Bankruptcy in California ----------------------------------------------------- On August 4, 2025, 1993 Green Valley Road LLC filed Chapter 11 protection in the Northern District of California. According to court filing, the Debtor reports $2,600,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 1993 Green Valley Road LLC 1993 Green Valley Road LLC is a single-asset real estate entity that owns the property at 1993 Green Valley Road in Alamo, California, valued at $3.25 million. 1993 Green Valley Road LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-41404) on August 4, 2025. In its petition, the Debtor reports total assets of $3,250,000 and total liabilities of $2,600,000. The Debtor is represented by Ruth Auerbach, Esq. 26 BOWERY LLC: 2 Bowery Must Pay Buyer's Premium to Northgate ------------------------------------------------------------- Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York granted Northgate Real Estate Group, LLC's motion to hold 2 Bowery LLC in civil contempt based on a failure to comply with orders in connection with the purchase of certain properties. Northgate's request to compel 2 Bowery to pay the Buyer's Premium and attorney's fees is also granted. 26 Bowery LLC was the owner of 26 Bowery, New York, New York. 2 Bowery Holding LLC was the owner of 2 Bowery, New York, New York. On March 21, 2024, the Court authorized the Debtors' retention of Northgate as their real estate advisor, governed by the retention agreement between the Debtors and Northgate. The Retention Order authorizes Northgate's commission to be 4% of the gross purchase price -- the "Buyer's Premium -- for the Properties. In September 2024, the Court further authorized the bidding procedures for the Properties. The Bidding Procedures Approval Order designated 2 Bowery LLC as the "Stalking Horse" buyer for the 2 Bowery Property. The Bidding Procedures Approval Order further restated that the Buyer's Premium would be 4% of the purchase price, to be paid by the purchaser. On Nov. 13, 2024, the Court entered an order approving the Debtors' plan of reorganization and the sale of the 2 Bowery Property to the Buyer. The sale of the 2 Bowery Property to the Buyer closed on Feb. 28, 2025 and Northgate subsequently filed a fee application on April 1, 2025, in connection with the sale. On May 5, 2025, the Court entered the fee approval order, instructing the Buyer to pay Northgate the buyer's premium in the amount of $220,000 on account of a 4% commission of the $5,500,000 purchase price for the 2 Bowery Property within five days after entry of this Order. The Court has clearly and unambiguously instructed the Buyer to pay Northgate the Buyer's Premium upon the sale of the 2 Bowery Property. According to the Court, the Buyer has not demonstrated that it has paid the Buyer's Premium to Northgate for the sale of the 2 Bowery Property. The Buyer has not responded to the Motion, and, therefore, the Buyer has failed to refute its alleged nonpayment of the fee or establish that it is experiencing an inability to pay the fee. The Buyer has not communicated that it is unable to pay the Buyer's Premium and has failed to adhere to Court's instruction to pay the Buyer's Premium pursuant to the Fee Approval Order. Therefore, the Court finds the Buyer has not been reasonably diligent in adhering to the Order. The Buyer must pay the amount due within seven days of the date of this Opinion. Failure to pay the sum due will result in additional civil contempt sanctions. A copy of the Court's Memorandum Opinion and Order dated July 31, 2025, is available at https://urlcurt.com/u?l=rhTOV9 from PacerMonitor.com. Counsel for Northgate Real Estate Group, LLC: Paul A. Rubin, Esq. Hanh V. Huynh, Esq. RUBIN LLC 11 Broadway, Suite 715 New York, NY 10004 E-mail: prubin@rubinlawllc.com hhuynh@rubinlawllc.com About 26 Bowery 26 Bowery, LLC is the owner of the real property and improvements located at 26 Bowery, N.Y. The property is a mixed-use commercial property located in Manhattan's Chinatown neighborhood. 26 Bowery and its affiliate, 2 Bowery Holding, LLC, filed their voluntary petitions for Chapter 11 protection (Bankr. S.D.N.Y. Case Nos. 22-10412 and 22-10413) on March 31, 2022. Both reported as much as $10 million in both assets and liabilities at the time of the filing. Judge Martin Glenn oversees the cases. A. Mitchell Greene, Esq., at Leech Tishman Robinson Brog PLLC serves as the Debtors' legal counsel. 301 W NORTH: Court Extends Cash Collateral Access to Sept. 30 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois issued its third interim order extending 301 W North Avenue, LLC's authority to use the cash collateral of BDS III Mortgage Capital G, LLC to September 30. The Debtor is authorized to continue using the secured lender's cash collateral on the terms set forth in the initial order (as modified by the second and third interim orders) and in accordance with the budget. The Debtor projects total operational expenses of $145,957 for August and $145,462 for September. A status hearing will be held on September 24. About 301 W North Avenue 301 W North Avenue LLC is a real estate debtor with a single asset, as outlined in 11 U.S.C. Section 101(51B), and its main property is situated at 1552 N. North Park Avenue, Chicago, IL 60610. 301 W North Avenue LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.Â N.D. Ill. Case No. 25-05275) on April 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million to $50 million each. HonorableÂ Bankruptcy JudgeÂ Timothy A. Barnes handles the case. The Debtor is represented by Robert Glantz, Esq. ROBERT GLANTZ MUCH SHELIST, P.C. BDS III Mortgage Capital G LLC, as creditor, is represented by: Steven Yachik, Esq. William S. Gyves, Esq. Benjamin Feder, Esq. Philip A. Weintraub, Esq. KELLEY DRYE & WARREN LLP 3 World Trade Center 175 Greenwich Street New York, New York 10007 Telephone: (212) 808-7800 Facsimile: (212) 808-7897 Email: syachik@kelleydrye.com wgyves@kelleydrye.com bfeder@kelleydrye.com pweintraub@kelleydrye.com 3910 ENTERPRISES: Seeks Chapter 11 Bankruptcy in Texas ------------------------------------------------------ On August 5, 2025, 3910 Enterprises Inc. filed Chapter 11 protection in the Southern 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 3910 Enterprises Inc. 3910 Enterprises Inc. manages real estate on behalf of clients and provides property appraisal services. 3910 Enterprises Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-80362) on August 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Genevieve M. Graham, Esq. at GENEVIEVE GRAHAM LAW, PLLC DBA GRAHAM PLLC. 4 POINTS TOWING: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: 4 Points Towing & Roadside Service LLC 5425 Willow Grove Road Camden Wyoming, DE 19934 Business Description: 4 Points Towing & Roadside Service LLC provides towing and roadside assistance services across Kent County and surrounding areas in Delaware and Maryland, offering local and long-distance transport for cars, trucks, exotic and classic vehicles, and low-clearance automobiles. The Company also handles light equipment hauling in Dover and along US-13 and DE-1 in Harrington, Milford, and Central Delaware. It operates as a family-owned and locally managed business. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court District of Delaware Case No.: 25-11491 Judge: Hon. Laurie Selber Silverstein Debtor's Counsel: Adam Hiller, Esq. HILLER LAW LLC 300 Delaware Avenue Suite 210 #227 Wilmington DE 19801 Tel: (302) 442-7677 E-mail: ahiller@adamhillerlaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Janet Kope as president and manager. A copy of the Debtor's list of 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/T6NBIHQ/4_Points_Towing__Roadside_Service__debke-25-11491__0001.2.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TWAINDY/4_Points_Towing__Roadside_Service__debke-25-11491__0001.0.pdf?mcid=tGE4TAMA 4069-4089 MINNESOTA: Trustee Taps Barry Strickland as Accountant ---------------------------------------------------------------- H. Jason Gold, the Chapter 11 trustee for 4069-4089 Minnesota Ave, NE, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Barry Strickland & Company, Certified Public Accountants, as his accountant. The firm will provide services to the Trustee with respect to accounting work necessary for the proper administration of the Debtor's bankruptcy estate, including, but not limited to, the preparation and filing of local, state and federal tax returns, reviewing financial records and advising the Trustee, as directed by the Trustee. The firm's current standard hourly rates for accountants are between $345 and $360 and between $110 and $145 for paraprofessionals. In addition, Barry Strickland & Company will seek reimbursement for necessary and proper expenses incurred in performing the service. Barry I. Strickland, a partner at Barry Strickland & Company, 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: Barry I. Strickland Barry Strickland & Company P.O. Box 9228 Richmond, VA 9410 Atlee Commerce Blvd., Suite 1, Ashland, VA 23005 Telephone: (804) 550-8500 Facsimile: (804) 550-8505 About 4069 - 4089 Minnesota Ave NE 4069 - 4089 Minnesota Ave, NE, LLC is a debtor with a single real estate asset, as outlined in 11 U.S.C. Section 101(51B). 4069 - 4089 Minnesota Ave sought filed Chapter 11 petition (Bankr. D. D.C. Case No. 25-00070) on Feb. 27, 2025, listing between $10 million and $50 million in both assets and liabilities. Oscar Portillo, managing member, signed the petition. Judge Elizabeth L. Gunn oversees the case. The Law Offices of Richard B. Rosenblatt, PC serves as the Debtor's bankruptcy counsel. 5TH AVENUE: Seeks to Hire BFSNG Law Group as Bankruptcy Counsel --------------------------------------------------------------- 5th Avenue Furniture Warehouse Inc., doing business as Avenue Furniture, seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ BFSNG Law Group, LLP to handle its Chapter 11 case. The hourly rates of the firm's counsel and staff are as follows: Robert L. Pryor, Partner $725 Gary C. Fischoff, Partner $685 Heath S. Berger, Partner $585 Mark E. Cohen, Of Counsel $550 Dawn Traina, Paralegal $210 Angelique Filardi, Paralegal $210 In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the firm received a retainer of $30,000 plus the filing fee of $1,738 from the Debtor. Mr. Berger disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Heath S. Berger, Esq. BFSNG Law Group, LLP 6851 Jericho Turnpike, Suite 250 Syosset, NY 11791 Telephone: (516) 747-1136 About 5th Avenue Furniture Warehouse 5th Avenue Furniture Warehouse Inc. is a family-owned furniture retailer located at 1644 5th Avenue, Bay Shore, New York, offering a range of home furnishings, mattresses, and accessories. 5th Avenue Furniture Warehouse sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72216) on June 6, 2025. In its petition, the Debtor reports total assets of $283,034 and total liabilities of $2,736,974. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor is represented by Heath S. Berger, Esq., at BFSNG Law Group, LLP. 875 CONLEY CV22: Seeks Chapter 11 Bankruptcy in New York -------------------------------------------------------- On August 4, 2025, 875 Conley CV22 LLC filed Chapter 11 protection in the Eastern District of New York. According to court filing, the Debtor reports $7,350,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 875 Conley CV22 LLC 875 Conley CV22 LLC is a single-asset real estate entity whose principal property is located at 875 Conley Road SE, Atlanta, GA 30354, and comprises 56 residential units. 875 Conley CV22 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72983) on August 4, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities of $7,350,000. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor is represented by Heath S. Berger, Esq. at BFSNG LAW GROUP, LLP. A&F USA PROPERTIES: Seeks to Hire The Smeberg Law Firm as Counsel ----------------------------------------------------------------- A&F USA Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ The Smeberg Law Firm, PLLC as counsel. The firm's services include: (a) assist, advise, and represent the Debtor in obtaining pre-plan relief; (b) assist, advise, and represent the Debtor in the confirmation process; (c) assist, advise, and represent the Debtor in completing monthly operating reports (MORs); (d) assist, advise, and represent the Debtor in adversary litigation as further agreed with the Debtor; (e) appear, as appropriate, before this Court, the appellate courts, and other courts in which matters may be heard and to protect the interests of the Debtor before said courts and the U.S. Trustee; and (f) perform all other necessary legal services in this case. The firm will be paid at these hourly rates: Ronald Smeberg, Attorney $450 Non Partner Attorneys $375 Associate Attorneys $300 Accounting Professionals $250 Legal Assistants/Paralegals $175 The firm received a prepetition retainer of $1,500 from Texas Auto Save, LLC for the Debtor. Mr. Smeberg 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: Ronald J. Smeberg, Esq. The Smeberg Law Firm PLLC 4 Imperial Oaks San Antonio, TX 78248 Telephone: (210) 695-6684 Facsimile: (210) 598-7357 Email: ron@smeberg.com About A&F USA Properties A&F USA Properties LLC is a single-asset real estate debtor whose principal property is located at 621 Highway 146 South in La Porte, Texas. A&F USA Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51499) on July 1, 2025. In its petition, the Debtor reports between $1 million and $10 million in both estimated assets and liabilities. Honorable Bankruptcy Judge Michael M. Parker handles the case. The Debtor is represented by Ronald Smeberg, Esq., at The Smeberg Law Firm PLLC. ABLENVIRONMENTAL LLC: Seeks to Tap Middlebrooks Shapiro as Counsel ------------------------------------------------------------------ Ablenvironmental LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the law firm of Middlebrooks Shapiro, PC as counsel. The firm will render these services: (a) prepare and file the Debtor's Chapter 11 petition, schedules, and statement of financial affairs; (b) represent the Debtor at the Initial Debtor Interview and the section 341(a) meeting of creditors; and (c) represent the Debtor in all aspects of the Chapter 11 case, including contested matters and adversary proceedings. The firm will be paid at these hourly rates: Melinda Middlebrooks, Attorney $500 Joseph Shapiro, Attorney $450 Jessica Minneci, Attorney $400 Law Clerks and Paralegals $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total retainer of $15,000 from the Debtor plus a filing fee of $1,738. Ms. Middlebrooks 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: Melinda D. Middlebrooks, Esq. Middlebrooks Shapiro, P.C. P.O. Box 1630 Belmar, NJ 07719 Telephone: (973) 218-6877 Email: jshapiro@middlebrooksshapiro.com About Ablenvironmental LLC Ablenvironmental LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-17836) on July 25, 2025, listing under $1 million in both assets and liabilities. Judge Mark Edward Hall oversees the case. The Debtor is represented by Melinda D. Middlebrooks, Esq., at Middlebrooks Shapiro, PC. ACCURADIO LLC: Seeks to Hire Jeffrey Jarmuth as Special Counsel --------------------------------------------------------------- AccuRadio, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Jeffrey Jarmuth, Esq., an attorney practicing in Chicago, Illinois, as special counsel. The attorney will render these services: (a) legal issues related to equity ownership interests of the Debtor, corporate governance and the treatment of post-confirmation equity ownership of the reorganized Debtor; (b) legal advice regarding vendors and advertising sales representation; and (c) legal advice related to employment issues, employee and member membership interest grants, and other human relations issues. The attorney will be billed at his hourly rate of $450. Mr. Jarmuth 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 attorney can be reached at: Jeffrey J. Jarmuth, Esq, 34 E. Elm St. Chicago, IL 60611 Telephone: (312) 335-9933 Facsimile: (312) 335-9933 About AccuRadio Inc. AccuRadio Inc. is a Chicago-based company that offers streaming radio service. AccuRadio sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-07366) on May 14, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $10 million and $50 million. Judge Michael B. Slade handles the case. The Debtor tapped Derek D. Samz, Esq., at Golan Christie Taglia, LLP as counsel; Jeffrey Jarmuth, Esq., as special counsel; and Media Financial Services as accountant. ACTIVE WORLD: Unsecured Creditors to be Paid in Full in Plan ------------------------------------------------------------ Active World Holdings, Inc., d/b/a Active World Club, filed with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania a Plan of Reorganization dated July 30, 2025. The Debtor is a Pennsylvania corporation. Alfonso Knoll is the sole owner and sole shareholder. The Debtor is engaged in creating blockchain opportunities for various assets especially its property at Galen Hall, Wernersville, PA property and has also participated in producing a film for imminent release known as "The Performance." Prior to the instant filing, the Debtor settled a good portion of a $900,000 debt with one of its creditors and the creditor pool, both secured and unsecured, is now approximately $600-700,000, which is much more manageable. The Debtor has settled a receivable with "GivBux," a publicly traded company. The Debtor believes settlement funding to be at hand. Class 2 consists of General Unsecured Claims without priority. These claims are estimated to total approximately $51,000. Unless otherwise provided in this Plan, funds received by the Trustee or disbursed directly by the Debtor to all creditors shall be paid in the following order of priority: 1. Pursuant to Section 1191(e) of the Bankruptcy Code, the payment of claims entitled to priority under Sections 507(a)(2) and (a)(3) of the Bankruptcy Code shall be paid in full prior to the payment of all other claims. 2. Except as otherwise provided in Section 1191(e) of the Bankruptcy Code, the payment of claims entitled to priority under Section 507 of the Bankruptcy Code shall be paid in accordance with Section 1129(a)(9) of the Bankruptcy Code. 3. Concurrently with the payments made, the Debtor shall pay its secured claimants pursuant to agreed amounts as determined after objection, if any, in full. 4. Concurrently with payments made, the Debtor shall pay its remaining general, unsecured claims, in full. The Debtor intends to fund the Plan with the GivBux receivable upon receipt of the final paperwork and/or at the direction of the Court after motion, or upon confirmation. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=vUhdrW from PacerMonitor.com at no charge. Counsel to the Debtor: Kevin K. Kercher, Esq. The Law Office of Kevin Kercher, Esquire, PC 881 3rd St. Whitehall Township, PA 18052 Telephone: (610) 264-4120 Email: kevin@kercherlaw.com About Active World Holdings Active World Holdings Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-11826) on May 8, 2025, with $1 million to $10 million in assets and $500,000 to $1 million in liabilities. Alfonso Knoll, authorized representative, signed the petition. Judge Patricia M. Mayer presides over the case. Kevin K. Kercher, Esq., at the Law Office of Kevin K. Kercher, Esquire represents the Debtor as bankruptcy counsel. ACUTE HVACR: Unsecureds Will Get 3.2% of Claims in Plan ------------------------------------------------------- Acute HVACR, LLC filed with the U.S. Bankruptcy Court for the District of South Carolina a Plan of Reorganization for Small Business dated July 30, 2025. Acute HVACR LLC, d/b/a Acute Heating & Cooling, has proudly served the Lowcountry as a family-owned HVAC contractor committed to quality, reliability, and customer service since 2017. Since entering Chapter 11, the Debtor's focus has been on stabilizing the business, protecting core operations, and preserving the trust of its employees, vendors, and clients. The Debtor shifted away from high-risk construction projects and recommitted to its core residential and service-based revenue streams, which offer more predictable cash flow and higher margins. The Debtor's operational processes have also been strengthened, with greater oversight on project selection, tighter financial controls, and improved internal reporting. The Plan filed by the debtor contemplates that is secured creditors shall be paid in full with the unsecured claims to be paid no less than the liquidation yield and at least the projected disposable income over sixty months. All holders of claims against the Debtor are encouraged to real the Plan in its entirety before voting to accept or reject the plan. The Plan provides for one class of priority claims, one class of secured claims, on class for executory contracts/unexpired leases, one class for unsecured claims, and for the payment of administrative priority claims. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of approximately $48,650 over a sixty-month period using all projected disposable income for plan payments. The final Plan payment is expected to be paid in approximately October 2030. This Plan of Reorganization proposes to pay creditors of the Debtor from future earnings. The Debtor does not anticipate that sales of assets or loan proceeds will be necessary for the continued operation and that the Debtor will be able to continue to operate based solely on its cash flow from future operations. Non-priority unsecured creditors holding allowed claims will receive distributions representing no less than the liquidation yield which the Debtor believes to be approximately zero percent. As noted below, the Debtor's Plan provides for an approximate 3.2% percent distribution to non-priority unsecured creditors. The Plan provides for the payment of administrative, priority, secured and unsecured claims. Class 3 consists of all non-priority unsecured claims. Class 3 claims will be paid approximately 3.2% (rounded to the next dollar) of each allowed claim amount. The allowed unsecured claims total $1,496,097.14. The Debtor shall commence making a semi annual payment to each creditor listed, on a pro-rata basis, with the first payment being due six months after the final entry of the Order confirming the plan. Any Creditor whose total distribution amount is less than $500.00 may be paid in full during the pendency of the plan. This class is impaired. The Debtor shall fund the Plan from earnings. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=MKkr4A from PacerMonitor.com at no charge. Attorney for the Debtor: CAMPBELL LAW FIRM, P.A. Michael H. Conrady, Esq. Post Office Box 684 Mt. Pleasant, SC 29465 (843) 884-6874/884-0997(fax) District Court I.D. No. 5560 Email: mconrady@campbell-law-firm.com About Acute HVACR, LLC Acute HVACR, LLC is a heating, ventilation, air conditioning, and refrigeration contractor based in Summerville, S.C. Acute HVACR sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-01661) on May 1, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Elisabetta Gm Gasparini handles the case. The Debtor is represented by Michael Conrady, Esq., at Campbell Law Firm, PA. ADELAIDA CELLARS: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------------ Adelaida Cellars, Inc., filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Chapter 11 Plan of Liquidation dated July 30, 2025. The Debtor's roots go back to the 1970s when Don and Elizabeth Van Steenwyk purchased land in Paso Robles. In 1981, they started the winery, which was one of the first ten wineries in Paso Robles and has been family-owned since its founding. The Debtor was formed in 1990 to own and operate the winery. The winery has over 4,000 wine club members and regularly receives 90+ point ratings from various national wine publications. The real property where the winery is located is owned by the Debtor's parent company, KMBG, LLC, and leased to the Debtor. The Debtor's revenues consist primarily of the sale of wine, most of which is done through credit cards. The Debtor's primary assets of value consist of (a) its inventory, (b) cash, and (c) raw materials and winery equipment. The Debtor believes that the amount the Debtor will realize from a sale of the assets as a going concern is significantly higher than the net book values. The Plan is a liquidating plan under which the Debtor will sell its assets as a going concern and use the net proceeds to fund payments to creditors under the Plan. The judgment creditor holding the largest claim against the Debtor will have its distributions held in trust pending the outcome of the appeal of the judgment. Class 4a consists solely of the Claim of the Judgment Creditor filed as $12,705,669. In full and complete payment, satisfaction, settlement, release, discharge, and extinguishment of the Judgment Creditor Claim, Class 4a shall receive the same treatment as the holders of Class 4b Claims, except that until the Claim becomes an Allowed Class 4a Claim, its pro rata share of the Excess Cash, the Net Sale Proceeds and any Net Recoveries shall be held in a segregated account until this Claim becomes an Allowed Claim. The Allowed Claim will be further reduced by any recoveries received by the Judgment Creditor from other judgment debtors. For purposes of calculating the amount to be held in reserve, the Reorganized Debtor will assume that the amount of the Claim is $12,705,669. If the Allowed Class 4a Claim is less than that amount, then the excess amount in the reserve will be distributed pro rata to the Allowed Class 4a and Class 4b Claims. The Allowed amount of the Class 4a Claim will be capped at $12,705,669. Class 4b consists of the General Unsecured Claims other than the Claim of the Judgment Creditor and the Claims in Class 4c. The allowed unsecured claims total $3,358,085.60, including the Class 1 Claim of First State Trust Company of Delaware, as Trustee of the Kedrin E. Van Steenwyk Issue Trust dated August 8, 1996, as decanted September 28, 2018, if the Lien is avoided. Commencing at the end of the first full calendar quarter after the Effective Date and continuing quarterly thereafter pending the sale of the Property, the holders of Allowed Class 4b Claims will receive pro rata distributions of Excess Cash, if any. In addition, within thirty days of the sale of the Property, and in full satisfaction, settlement, release, discharge, and extinguishment of their Claims, the holders of Allowed Class 4b Claims shall receive their pro rata share of the Net Sale Proceeds. Any Net Recoveries obtained by the Reorganized Debtor will also be distributed pro rata to the holders of Allowed Class 4b Claims. If the Net Sale Proceeds and Net Recoveries are sufficient to pay the holders of Class 4a and Class 4b Claims in full, then the holders of Allowed Class 4a and Class 4b Claims will be paid interest from the Effective Date at the rate of 5% per annum. Class 4c consists of Convenience Class of General Unsecured Claims of $1,800 or less that do not opt out of Class 4c. On the Effective Date, the Debtor will make a cash payment equal to 90% of the Allowed Class 4c General Unsecured Claims in full and complete payment, satisfaction, settlement, release, discharge and extinguishment of the Claims in this Class. Holders of Allowed Class 4c General Unsecured Claims shall not be entitled to any further distributions under the Plan. The allowed unsecured claims total $19,558. Class 5 consists of Equity interest held by KMBG, LLC. At the election of KMBG to be made thirty days prior to the hearing to consider confirmation of the Plan: * KMBG will contribute either all or a portion of the real property that it owns or the proceeds from the sale of all or a portion of the real property that it owns to Adelaida, net of the (a) costs of sale, (b) any debts of KMBG, including taxes, and (c) estate taxes associated with the sale of the property, as a new value contribution in exchange for retaining its equity in the Debtor. If the real property is contributed, the estate taxes resulting from the sale of the real property shall first be paid before the net proceeds are available for distribution under the Plan; or * If KMBG elects not to contribute the net proceeds or the real property in accordance with the foregoing provision, all rights and powers associated with its shares in the Debtor will be terminated and it will receive nothing on account of its equity interest in the Debtor. If the Judgment is modified or reduced on appeal or the Judgment Creditor is Paid in Full by other judgment debtors and the Allowed Classes of Claims, including the Class 4a Claim of the Judgment Creditor, are Paid in Full, then the rights and powers associated with its shares shall be reinstated in KMBG, LLC, and it will receive any remaining proceeds after all other Claims are Paid in Full. The Reorganized Debtor will sell the Property. Pending the sale of the Property, payments under the Plan will be funded from the Reorganized Debtor's operations. As reflected in the Projections, Distributions to the Holders of Administrative Claims, Professional Fee Claims, Priority Tax Claims, and the Class 4c Convenience Class will be paid by the Reorganized Debtor from its Cash on Hand on the Effective Date. The Holders of Allowed Class 4a and 4b Claims will receive quarterly payments of Excess Cash, if any, pending the sale of the Property, plus their pro rata share of the Net Sale Proceeds within thirty days of the closing of the sale of the Property. After the Effective Date, the Reorganized Debtor shall be authorized to retain an investment banker to sell the Property in order to fund distributions under the Plan. A full-text copy of the Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=kVhROx from PacerMonitor.com at no charge. Adelaida Cellars, Inc. is represented by: Hamid R. Rafatjoo, Esq. RAINES FELDMAN LITTRELL LLP 1900 Avenue of the Stars, 19th Floor Los Angeles, CA 90067 Telephone: (310) 440-4100 Facsimile: (310) 691-1367 About Adelaida Cellars Adelaida Cellars, Inc. is a family-owned and operated winery in Paso Robles, Calif. Adelaida Cellars sought Chapter 11 petition (Bankr. C.D. Calif. Case No. 24-11409) on December 13, 2024, with $10 million to $50 million in both assets and liabilities. Nicholas D. Rubin, chief restructuring officer of Adelaida Cellars, signed the petition. Judge Ronald A Clifford, III oversees the case. The Debtor is represented by Hamid R. Rafatjoo, Esq., at Raines Feldman Littrell, LLP. ADVANCED TRENCHLESS: Court OKs Deal to Use Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, approved a stipulation between Advanced Trenchless, Inc and its principal secured creditor, Comerica Bank, regarding the use of cash collateral. Key terms of the stipulation include: (1) a monthly budget not exceeding $342,060, with a 5% variance allowance; (2) monthly payments of $5,000 to Comerica as adequate protection until confirmation of the Debtor's Chapter 11 plan; (3) a replacement lien in favor of the bank on all of the Debtor's post-petition assets, including cash, receivables, inventory, equipment, and general intangibles; and (4) a term lasting until either default, plan confirmation, or court disapproval of the stipulation. Comerica had previously extended a loan to the Debtor under a revolving/installment note dated July 11, 2018, in the original principal amount of $250,000. The loan is secured by all of the Debtor's personal property through a Security Agreement and a UCC-1 Financing Statement filed on July 16, 2018, which perfects the bank's first-priority lien on inventory, accounts, deposit accounts, equipment, and general intangibles, whether now owned or after acquired. As of June 13, the Debtor owed the bank at least $144,101, excluding interest, fees, and costs. About Advanced Trenchless Inc. Advanced Trenchless, Inc. provides trenchless sewer, plumbing, and drain services across Northern California. The company specializes in hydro jetting, sewer and drain repairs, trenchless replacements, and camera inspections. Founded in 1978, it has decades of experience addressing sewer infrastructure issues with a focus on non-commission-based, full-service solutions. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-41165) on July 1, 2025. In the petition signed by Ryan Charles, president, the Debtor disclosed $536,960 in assets and $4,644,613 in liabilities. Judge Charles Novack oversees the case. David A. Arietta, Esq., at the Law Offices of David A. Arietta, represents the Debtor as legal counsel. Comerica Bank, as secured creditor, is represented by: Jessica M. Simon, Esq. Hemar, Rousso & Heald, LLP 15910 Ventura Blvd., 12th Floor Encino, CA 91436 Telephone: (818) 501-3800 Facsimile: (818) 501-2985 jsimon@hrhlaw.com AGDP HOLDING: Seeks Chapter 11 Bankruptcy in Delaware ----------------------------------------------------- On August 4, 2025, AGDP Holding Inc. filed Chapter 11 protection in the District of Delaware. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 50,000 and 100,000 creditors. The petition states funds will be available to unsecured creditors. About AGDP Holding Inc. AGDP Holding Inc. and affiliates operate a multi-space entertainment venue complex in North America, hosting large-scale live events such as concerts, festivals, corporate functions, and multimedia shows. The Debtors are known for their advanced audiovisual production capabilities, including a 2022 upgrade featuring one of the world's highest-resolution video walls. AGDP Holding Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11446) on August 4, 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 Mary F. Walrath handles the case. The Debtor is represented by Sean M. Beach, Esq., Edmon L. Morton, Esq., Kenneth J. Enos, Esq., S. Alexander Faris, Esq., Sarah Gawrysiak, Esq., and Evan S. Saruk, Esq. at YOUNG CONAWAY STARGATT & TAYLOR, LLP. The Debtors' Financial Advisor is TRIPLE P TRS, LLC and the Debtors' Investment Banker is TRIPLE P SECURITIES, LLC. The Debtors' Claims & Noticing Agent and Administrative Advisor is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. ALACHUA GOVERNMENT: Taps Jefferies LLC as Investment Banker ----------------------------------------------------------- Alachua Government Services, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Jefferies LLC and Jefferies International Limited as investment banker. The firm's services include: (a) providing the Company with financial advice and assistance in connection with a possible sale, disposition or other business transaction or series of transactions involving all or a material portion of the Company's real estate or equipment collectively, the "Real Estate Assets") or any of the Company's royalty rights (collectively, the "Royalty Rights"), whether directly or indirectly, in standalone transactions or together with the sale of other assets of the Company, and through any form of transaction, including, without limitation, merger, reverse merger, liquidation, stock sale, asset sale, asset swap, recapitalization, reorganization, consolidation, amalgamation, spin-off, split-off, joint venture, strategic partnership, license, a sale under section 363 of the Bankruptcy Code (including any "credit bid" made pursuant to section 363(k) of the Bankruptcy Code and including under a plan pursuant to the Bankruptcy Code) or other transaction (any of the foregoing, an "M&A Transaction"); (b) acting as sole and exclusive investment banker in connection with any of the following (each, a "Financing"): (i) the sale and/or placement, whether in one or more public or private transactions, of (A) common equity, preferred equity, and/or equity-linked securities of the Company (regardless of whether sold by the Company or its securityholders), including, without limitation, convertible debt securities (individually and collectively, "Equity Securities"), and/or (B) notes, bonds, debentures and/or other debt securities of the Company, including, without limitation, mezzanine and asset-backed securities (individually and collectively, "Debt Securities"), and/or (ii) the arrangement and/or placement of any bank debt and/or other credit facility of the Company including debtor-in-possession financing (individually and collectively, "Bank Debt," and any or a combination of Bank Debt, Equity Securities and/or Debt Securities, Instruments"). For the avoidance of doubt, if a Financing is executed in more than one issuance or tranche, each shall be deemed to be a Financing for the purposes of the Engagement Letter; and (c) providing advice and assistance to the Company in connection with analyzing, structuring, negotiating and effecting, and acting as exclusive investment banker to the Company in connection with, any restructuring, reorganization, recapitalization, repayment or material modification of the Company's outstanding indebtedness or obligations (including, without limitation, any preferred equity), however achieved, including, without limitation, through any offer by the Company with respect to any outstanding Company indebtedness or obligations, a solicitation of votes, approvals, or consents giving effect thereto (including with respect to a plan pursuant to chapter 11 of the Bankruptcy Code), the execution of any agreement giving effect to the same, an offer by any third party to convert, exchange or acquire any outstanding Company indebtedness or obligations, or any similar balance sheet restructuring involving the Company (any of the foregoing, a "Restructuring"). The firm will be compensated at these fees: (a) Monthly Fee. A monthly fee (the "Monthly Fee") equal to $100,000 per month accruing and payable from May 22, 2025 until the termination of the Engagement Letter; provided that the Company agrees to pay Jefferies $200,000 upon the execution of the Engagement Letter in satisfaction of the Monthly Fees arising and accrued on May 22, 2025 and June 22, 2025. Each subsequent Monthly Fee shall be payable on each monthly anniversary following June 22, 2025. Commencing with the fourth full Monthly Fee actually paid under the Engagement Letter, an amount equal to 50 percent of the Monthly Fees actually paid to Jefferies shall be credited once, without duplication, against any Specified M&A Transaction Fee, Royalty M&A Transaction Fee or Restructuring Fee that subsequently becomes payable to Jefferies under the Engagement Letter. (b) M&A Transaction Fee. Upon the consummation of an M&A Transaction involving any Real Estate Assets (a "Specified M&A Transaction"), a fee (a "Specified M&A Transaction Fee") equal to 4 percent of that portion of the aggregate Transaction Value (as defined in the Engagement Letter) for all Specified M&A Transaction in excess of $10,000,000; provided, the minimum Specified M&A Transaction Fee paid at the first closing of a Specified M&A Transaction shall be $500,000 (and shall only be payable once) and in the event of multiple Specified M&A Transactions, the Specified M&A Transaction Fee payable at closing of each Specified M&A Transaction subsequent to the initial Specified M&A Transaction shall equal the aggregate Specified M&A Transaction Fee calculated as if all Specified M&A Transactions constituted a single Specified M&A Transaction less the Specified M&A Transaction Fees actually paid to Jefferies. Upon the consummation of an M&A Transaction involving any Royalty Rights (a "Royalty M&A Transaction"), a fee (a "Royalty M&A Transaction Fee") equal to 4 percent of that portion of the aggregate Transaction Value for all such Royalty M&A Transaction in excess of $40,000,000; provided, the minimum Royalty M&A Transaction Fee (the "Royalty Minimum Fee") paid at the first closing of a Royalty M&A Transaction shall be $2,000,000 (and shall only be payable once) and in the event of multiple Royalty M&A Transactions, the Royalty M&A Transaction Fee payable at closing of each Royalty M&A Transaction subsequent to the initial Royalty M&A Transaction shall equal the aggregate Royalty M&A Transaction Fees calculated as if all Royalty M&A Transactions constituted a single Royalty M& Transaction less the Royalty M&A Transaction Fees actually paid to Jefferies; provided, further, no Royalty Minimum Fee shall be payable to Jefferies unless and until the Transaction Value for all Royalty M&A Transactions equals or exceeds $20,000,000. For the avoidance of doubt, to the extent an M&A Transaction involves both the Real Estate Assets and the Royalty Rights, Jefferies shall be entitled to both the Specified M&A Transaction Fee and Royalty M&A Transaction Fee on account of such M&A Transaction. (c) Financing Fee. Promptly upon consummation of a Financing, a fee (a "Financing Fee") equal to an amount to be determined according to the following schedule: -- $2 percent of the aggregate principal amount of any secured Bank Debt or secured Debt Securities of any Financing; -- $3.50 percent of the aggregate principal amount of any Bank Debt or Debt Securities of any Financing not covered by subsection (g)(i) of the Engagement Letter; and -- $5 percent of the aggregate gross proceeds received or to be received from the sale of Equity Securities, including, without limitation, aggregate amounts committed by investors to purchase Equity Securities in connection with any Financing. Notwithstanding the foregoing, the minimum Financing Fee paid at the first closing of a Financing shall be $500,000 (and shall only be payable once) and in the event of multiple Financings, the Financing Fee payable at closing of each Financing subsequent to the initial Financing shall equal the aggregate Financing Fees calculated for all Financings less the Financing Fees actually paid to Jefferies. (d) Restructuring Fee. Promptly upon the consummation of a Restructuring where any portion of the Company continues as a going concern, a fee (a "Restructuring Fee") in an amount equal to $2,500,000. Additionally, 100 percent of any Specified M&A Transaction Fees and Royalty M&A Transaction Fees actually paid to Jefferies shall be credited once, without duplication against any Restructuring Fee that is subsequently payable to Jefferies under the Engagement Letter; provided, for the avoidance of doubt, under no circumstances shall the Restructuring Fee be reduced below $0.00. (e) Expense Reimbursement. In addition to any fees that may be paid to Jefferies under the Engagement Letter, whether or not any Transaction occurs, the Company will reimburse Jefferies, promptly upon receipt of an invoice therefor, for all out-of-pocket expenses (including ancillary expenses and fees and expenses of its counsel and any other independent experts retained by Jefferies) incurred by Jefferies and its designated affiliates in connection with the engagement contemplated under the Engagement Letter. Michael O'Hara, a managing director at Jefferies, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael O'Hara Jefferies LLC 520 Madison Avenue New York, NY 10022 Telephone: (212) 284-2300 About Alachua Government Services, Inc. Alachua Government Services Inc., is a pharmaceutical and medicine manufacturing company formerly known as Ology Bioservices. The company, based in Alachua, Florida, operates in the pharmaceutical manufacturing sector. Alachua Government Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11289) on July 6, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. The Debtor is represented by Michael J. Merchant, Esq. at Layton & Finger, P.A. FTI Consulting, Inc. is the Debtor's restructuring advisor, Jefferies LLC and Jefferies International Limited is the Debtor's investment banker, and Epiq Corporate Restructuring LLC is the Debtor's claims and noticing agent. ALEXANDER PLASTICS: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Alexander Plastics, Inc Creations Global 3845 Grader St. Building 100 Garland, TX 75041 Business Description: Alexander Plastics, Inc., doing business as Creations Global, manufactures and distributes plastic products and kiosk systems from its facility in Garland, Texas. The Company offers engineered interior systems, mobile fabrication services, and VMS hybrid kiosks for retail and commercial clients. It provides design, prototyping, and engineering support tailored to custom specifications, and also supplies wholesale plastic components to various industries through direct and contract channels. Chapter 11 Petition Date: August 6, 2025 Court: United States Bankruptcy Court Northern District of Texas Case No.: 25-33013 Debtor's Counsel: Frances A. Smith, Esq. ROSS & SMITH, P.C. 700 N. Pearl Street 1610 Dallas TX 75201 Tel: (214) 593-4976 E-mail: frances-smith@ross-and-smith.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Ben Goldfarb as chairman. 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/GAVSJVA/Alexander_Plastics_Inc__txnbke-25-33013__0001.0.pdf?mcid=tGE4TAMA ALL AMERICAN: Claims to be Paid from Business Operations -------------------------------------------------------- All American Holdings LLC and its affiliates filed with the U.S. Bankruptcy Court for the Middle District of Florida a Joint Disclosure Statement for the Joint Plan of Reorganization dated July 30, 2025. The Debtors are affiliated entities. Dr. Bonati is a prominent surgeon, and Gulf Coast is one of the corporate entities that was involved with Dr. Bonati's surgical practice prior to the filing of the bankruptcy petition. The Debtors' corporate headquarters are located at 7315 Hudson Avenue, Hudson, Florida 34667, which they lease. Dr. Bonati resides at 3700 El Centro, St. Petersburg, Florida, which he owns with his wife. Prior to the Petition Date, Gulf Coast generated revenue from the performance of medical and related services. The Debtors filed their bankruptcy cases in order to preserve the going concern value of their assets and to restructure their obligations. The Debtors believe that distribution to creditors can only be achieved and maximized through the resumption of business activities and confirmation of a plan. The Debtors, therefore, believe that acceptance of a negotiated Plan will be in the best interest of each and every Class of Claims and Interests and recommends that the Voting Classes vote to accept the Plan. The Debtors propose to pay Creditors from future profitable operations. The Debtors' strong postpetition performances reflects its ability to make payments under the Plan. Class 7 consists of all Allowed Unsecured Claims against the Debtor. Each Holder of an Allowed Unsecured Claim shall receive its Pro Rata share of the Unsecured Creditor Distribution in full satisfaction of its Unsecured Claim. The Unsecured Creditor Distribution will be funded from the net disposable income of the Reorganized Debtors and their affiliated entities, after payment of all Secured and Priority Claims. Distributions will be made over time as agreed at mediation or as proposed by the Debtor. Class 7 is Impaired by the Plan. The Plan contemplates the resumption of the medical business operations of Gulf Coast supervised by Bonati. Plan payments will be funded from revenues derived from these operations. On the Effective Date, except as otherwise expressly provided in the Plan, all Property of the Debtors shall revest in the Reorganized Debtors free and clear of any and all Liens, Debts, obligations, Claims, Liabilities, Interests, and all other interests of every kind and nature, except as set forth herein, and the Confirmation Order shall so provide. The obligations under the Plan to Holders of contingent, unliquidated, and Disputed Claims cannot be ascertained without the determination of the validity and amount of those Claims by the Bankruptcy Court. Until the Claim determination process is complete, the exact amount to be received by Unsecured Creditors cannot be ascertained. A full-text copy of the Joint Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=e6rkCO from PacerMonitor.com at no charge. The Debtor's Counsel: Harry E. Riedel, Esq. Scott A. Stichter, Esq. STICHTER, RIEDEL, BLAIN & POSTLER, P.A. 110 E. Madison St., Suite 200 Tampa, FL 33602 Tel: (813) 229-0144 Email: hriedel@srbp.com About All American Holdings LLC All American Holdings LLC is a limited liability company. All American Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02066) on April 1, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Catherine Peek McEwen handles the case. The Debtor is represented by Harry E. Riedel, Esq. at STICHTER, RIEDEL, BLAIN & POSTLER, P.A. AMERIFIRST FINANCIAL: Proposes Global Settlement in Ch. 11 Case --------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that bankrupt mortgage servicer AmeriFirst Financial Inc. has proposed a global settlement to resolve disputes in its Chapter 11 case, aiming to end a months-long impasse in the proceedings. About AmeriFirst Financial AmeriFirst Financial, Inc., is a mid-sized independent mortgage company in Mesa, Ariz. AmeriFirst and its affiliate Phoenix 1040, LLC, filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-11240) on Aug. 24, 2023. In the petitions signed by T. Scott Avila, chief restructuring officer, each Debtor disclosed between $50 million and $100 million in both assets and liabilities. Judge Thomas M. Horan oversees the cases. The Debtors tapped Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP as bankruptcy counsel; and Paladin Management Group, LLC as restructuring advisor. Omni Agent Solutions, Inc., is the claims, noticing and administrative agent. On Sept. 15, 2023, the Office of the United States Trustee appointed an official committee of unsecured creditors. The Committee tapped Morris, Nichols, Arsht & Tunnell LLP as its counsel. ANCIOM LLC: Unsecureds Will Get 8.69% of Claims over 36 Months -------------------------------------------------------------- Anciom, LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated July 30, 2025. The Debtor operates as a distributor of HVAC products, primarily focused on the distribution of air conditioning coils and other components. In addition to its core distribution activities, the company also offers ancillary services including protective coating applications designed to enhance the durability and performance of HVAC equipment. The Debtor commenced operations in 2020 as a family-run business founded and managed by Jorge Villanueva and Stefany Villaneuva, operating initially out of their personal residence. The Debtor estimates $377,913.09 in general unsecured claims and $53,760.00 in reclassified claims for a total of $431,673.09 in general unsecured claims. Through this Plan, the Debtor intends to restructure these obligations, to remain viable as a going concern. This Plan provides for two classes of secured claims, one class of administrative convenience claims, one class of priority unsecured claims, one class of general unsecured claims, and one class of equity security holders claims. General unsecured creditors holding allowed claims will receive distributions, which the Debtor has valued at approximately 8.69%. This Plan also provides for the payment of administrative and priority claims. The Debtor's financial projections show that the Debtor will have projected disposable income of $37,500.00. The final Plan payment is expected to be paid in the fourth quarter of 2028. Class 5 consists of all allowed general unsecured creditors and reclassified claims. The Class 5 general unsecured creditors and claims shall share pro rata in a total distribution of $37,500.00. Payments to Class 5 creditors will be made on a quarterly basis, beginning in month 10 and continuing through month 36, in equal quarterly installments of $4,166.67. The allowed unsecured claims total $431,673.09. Unsecured creditors will be receiving a distribution of approximately 8.69% of their allowed claim(s), which is an amount in excess of what claimants would receive in a hypothetical Chapter 7 proceeding, in which case such claimants would receive 0.00%. Class 5 is impaired. Class 6 consists of Stefany Villanueva ("Equity Security Holders"). Equity Security Holders shall retain their prepetition interests. The means necessary for the implementation of this Plan include the Debtor's cash flow from operations for a period of three years and contributions from the Principals of the Debtor, but only if such contributions are deemed necessary due to the Debtor underperforming financially or the temporary need to a cash infusion. The Debtor's financial projections show that the Debtor will have sufficient cash over the life of the Plan to make the required Plan payments and operate its business The Debtor's financial projections show that the Debtor will have projected disposable income for a period of three years (after payment of all amounts under this Plan, as well as operating expenses) of $37,500.00. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=mMenlM from PacerMonitor.com at no charge. Counsel to the Debtor: Rachamin Cohen, Esq. Cohen Legal Services, P.A. 1801 NE 123rd Street, Suite 314 North Miami, FL 33181 Phone: (305) 570-2326 Email: rocky@lawcls.com About Anciom LLC Anciom, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-14970) on May 1, 2025, listing between $50,001 and $100,000 in assets and between $500,001 and $1 million in liabilities. Linda Leali, Esq., serves as Subchapter V trustee. Judge Peter D. Russin oversees the case. Rachamin Cohen, Esq., at Cohen Legal Services, P.A. is the Debtor's bankruptcy counsel. Specialty Capital is represented by: Alan C. Hochheiser, Esq. Maurice Wutscher, LLP 23611 Chagrin Blvd. Suite 207 Beachwood, OH 44122 Telephone: (216) 220-1129 Facsimile: (216) 472-8510 ahochheiser@mauricewutscher.com ANTONIO MUNOZ: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Antonio Munoz Aserradero, LLC 3023 FM 347 N Rusk TX 75758 Business Description: Antonio Munoz Aserradero, LLC is a Texas- based company engaged in sawmills and wood preservation activities. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court Eastern District of Texas Case No.: 25-60480 Debtor's Counsel: Michael E Gazette, Esq. LAW OFFICES OF MICHAEL E GAZETTE 100 E Ferguson Street Suite 1000 Tyler TX 75702 Tel: (903) 596-9911 Email: megazette@suddenlinkmail.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Antonio Munoz as president. 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/XZJIPUQ/Antonio_Munoz_Aserradero_LLC__txebke-25-60480__0001.0.pdf?mcid=tGE4TAMA APOGEE BREWING: Seeks Chapter 11 Bankruptcy in Texas ---------------------------------------------------- On August 4, 2025, Apogee Brewing LLC filed Chapter 11 protection in the Southern 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 Apogee Brewing LLC Apogee Brewing LLC, doing business as True Anomaly Brewing, operates a craft brewery and taproom in Houston, Texas. The Company produces a variety of beers and specializes in small-batch and barrel-aged offerings. Apogee Brewing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34497) on August 4, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Stacey Barnes, Esq. at KEARNEY, MCWILLIAMS & DAVIS, PLLC. ARCHDIOCESE OF NEW ORLEANS: Court Sets Nov. Ch. 11 Plan Hearing --------------------------------------------------------------- Rick Archer of Law360 reports that on Friday, August 8, 2025, a Louisiana bankruptcy judge authorized the Roman Catholic Archdiocese of New Orleans to solicit Chapter 11 plan creditor vote and set a confirmation hearing for November, warning that this would be the parties' only opportunity to implement the proposal. 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. ARCHDIOCESE OF NEW ORLEANS: Unsecureds Will Get 1% of Claims ------------------------------------------------------------ The Roman Catholic Church of the Archdiocese of New Orleans, Additional Debtors, and the Official Committee of Unsecured Creditors filed with the U.S. Bankruptcy Court for the Eastern District of Louisiana a First Amended Disclosure Statement for the First Amended Plan of Reorganization dated July 30, 2025. Erected in 1793, and originally known as the Diocese of Louisiana and the Florida, the Archdiocese of New Orleans was a joint creation of the king of Spain and the Pope. In 1941, the Archdiocese was incorporated as a nonprofit corporation under the laws of the State of Louisiana. Since 1977, the Archdiocese operates in the following eight civil parishes in the metropolitan New Orleans area, covering 4,208 square miles (the "Region"): Jefferson; Orleans; Plaquemines; St. Bernard; St. Charles; St. John the Baptist; St. Tammany; and Washington. The Debtor directly owns and operates the following schools (collectively, the "Archdiocesan Schools"): (a) the Academy of Our Lady High School (located in Marrero); (b) Archbishop Chapelle High School (located in Metairie); (c) Archbishop Hannan High School (located in Covington); (d) Archbishop Rummel High School (located in Metairie); (e) Archbishop Shaw High School (located in Marrero); (f) Pope John Paul II High School (located in Slidell); (g) St. Charles Catholic High School (located in LaPlace); (h) St. Scholastica Academy (located in Covington); and (i) St. Michael Special School for Exceptional Children (located in New Orleans). Under the Joint Plan, the Affordable Housing Facilities will be sold, and the net proceeds of the sale, if a sale is achieved, will fund the Settlement Trust. The sale of the Affordable Housing Facilities is being conducted by Newmark Affordable Housing Advisors as broker and [] as Independent Financial Advisor. Newmark has prepared marketing materials and is expecting bids in July and August 2025. Any sale of Christopher Homes will likely close in 2026. Proceeds from the sale of the Affordable Housing Facilities will be distributed as follows: (i) first $23 million in proceeds from the sale will be paid to the applicable Debtor, Reorganized Archdiocese, Additional Debtors, and Reorganized Additional Debtors; and (ii) the next $33 million in proceeds will be paid to the Settlement Trust. From the first $23 million in proceeds, $20 million will be used to repay the Settlement Trust Promissory Note. Proceeds exceeding $56 million will be divided between the Settlement Trust, the applicable Debtor, Reorganized Archdiocese, Additional Debtors, and Reorganized Additional Debtors. General Unsecured Claims and Unsecured Trade Claims in Class 7. Based on the Debtor's Schedules and the Proofs of Claim, the Debtor estimates that the General Unsecured Claims and Unsecured Trade Claims total approximately $1.4 million, excluding unliquidated Non-Abuse Personal Injury Claims treated in Class 8 at section 4.8 of the Joint Plan. The General Unsecured Claims and Unsecured Trade Claims are treated in Class 7 at Section 4.7 of the Joint Plan. This section provides holders of General Unsecured Claims will be paid 1% of the value of their Claim with the right to elect to have their Claim treated as a Convenience Claim, which will be paid in full up to a cap of $50,000. These Claims are not paid by the Settlement Trust. The primary purpose of the Joint Plan is to create a Settlement Trust for the payment of Abuse Claims. Non-Abuse Claims are NOT paid by the Settlement Trust. The Settlement Trust will be overseen by the Settlement Trustee, an independent third party. The Joint Plan also provides for the appointment of an Abuse Claims Reviewer, another independent third party, who evaluates Abuse Claims for the purpose of allocating payments from the Settlement Trust. The Settlement Trust will be funded with cash contributions from the Archdiocese, the Additional Debtors, the Non-Debtor Catholic Entities, and the Settling Insurers; proceeds from the sale of the Affordable Housing Facilities; and future contributions from the Archdiocese and Additional Debtors through payment of a promissory note. Under the Joint Plan, the Settlement Trust will be funded with a minimum of $179,275,000 with funding likely to exceed $210,000,000 excluding any settlement with the Non-Settling Insurer. To assist Abuse Claimants in understanding the Joint Plan, the Survivors' Committee has prepared a letter to Abuse Claimants (the "Survivors' Committee Letter"), which is provided to Abuse Claimants along with this Disclosure Statement. The contributions to the Joint Plan come from the Archdiocese, the Additional Debtors, the Non-Debtor Catholic Entities, and the Settling Insurers: * The Joint Plan Contributions. The contributions to the Settlement Trust are set forth in the Joint Plan. The Archdiocese, the Additional Debtors, the Non-Debtor Catholic Entities, and the Settling Insurers have agreed to the following contributions: -- On the Effective Date, the Archdiocese, the Additional Debtors, and the Non-Debtor Catholic Entities will transfer Cash in the amount of $130,000,000 through 1793 Group to the Settlement Trust. -- On or near the Effective Date, the Settling Insurers will transfer $29,275,0003 into the Settlement Trust, which will be allocated to Abuse Claimants who sign an Abuse Claim Release and Certification. The exact amount of each Settling Insurer's contribution is set forth in Section 5.3(b) of the Joint Plan. -- On the Effective Date, the Archdiocese and the Additional Debtors will enter into a fouryear Settlement Trust Promissory Note in the amount of $20,000,000 with the Settlement Trust as payee. The first payment under the Settlement Trust Promissory Note will be due on July 1, 2026. The Settlement Trust Promissory Note may be paid more quickly through sale proceeds. -- The Affordable Housing Entities will sell the Affordable Housing Facilities identified on Plan Exhibit I and commonly known as the Christopher Homes. The sale of the Affordable Housing Facilities is being conducted by Newmark Affordable Housing Advisors as broker and an Independent Financial Advisor, who will be selected in the near future. Newmark has prepared marketing materials and is expecting bids in July and August 2025. Any sale of Christopher Homes will likely close and fund in 2026. Net proceeds4 from the sale of the Affordable Housing Facilities will be distributed as follows: (i) first $23 million in net proceeds from the sale will be paid to the applicable Debtor, Reorganized Archdiocese, Additional Debtors, and Reorganized Additional Debtors; and (ii) the next $33 million in net proceeds will be paid to the Settlement Trust. From the first $23 million in net proceeds, $20 million will be used to repay the Settlement Trust Promissory Note. Net proceeds exceeding $56 million will be divided between the Settlement Trust, the applicable Debtor, Reorganized Archdiocese, Additional Debtors, and Reorganized Additional Debtors. The Parties estimate, based on preliminary broker value analysis, that net sale proceeds will be available to fund the Settlement Trust in a range of approximately $30,904,000 to $55,924,000. Of course, a lower or higher recovery is possible depending on sale outcomes. -- On the Effective Date, the transfer and vesting of rights related to the Non-Settling Insurers' Policies will be transferred to the Settlement Trust, as set forth in Section 7.2 of the Joint Plan. -- The Archdiocese and Additional Debtors have agreed to certain additional consideration including the Non-Monetary Plan Provisions, payment of Abuse Claims Reviewer Fees, and other consideration set forth in the Joint Plan. -- The transfer of rights of the Archdiocese and the Additional Debtors to the Settlement Trust constitutes significant additional consideration that will be received by the Abuse Claimants, particularly the value of assigned rights against Non Settling Insurers. The Survivors' Committee, the Archdiocese, and the Additional Debtors have agreed to Non-Monetary Plan Provisions to Foster Child Safety and Prevent Child Sexual Abuse attached to the Joint Plan. Performance of the Non-Monetary Plan Provisions will provide improvements to the Archdiocese's child protection policies and transparency regarding past abuse by creating a public archive of abuse-related documents. The NonMonetary Plan Provisions also include a Survivor Bill of Rights to provide a clear, predictable process for the handling of future abuse claims. Distributions to Creditors holding Claims that are not Abuse Claims (the "Non-Abuse Claims") will be paid under the Joint Plan by the Reorganized Debtor and Reorganized Additional Debtors from their remaining assets after funding the Settlement Trust. Creditors holding Non-Abuse Claims will not be entitled to any recovery from the Settlement Trust. The Reorganized Debtor and Reorganized Additional Debtors reserve the right to object to any Non-Abuse Claim. A full-text copy of the First Amended Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=4XJ73B from Donlin, Recano & Company, Inc., claims agent. Counsel to the Roman Catholic Church of the Archdiocese of New Orleans: JONES WALKER LLP R. Patrick Vance, Esq. Elizabeth J. Futrell, Esq. Mark A. Mintz, Esq. Samantha A. Oppenheim, Esq. 201 St. Charles Avenue, 51st Floor New Orleans, LA 70170 Telephone: (504) 582-8000 Facsimile: (504) 589-8260 Email: pvance@joneswalker.com efutrell@joneswalker.com mmintz@joneswalker.com soppenheim@joneswalker.com Counsel to the Additional Debtors: HELLER, DRAPER, & HORN, L.L.C. Douglas S. Draper, Esq. Greta S. Brouphy, Esq. Michael E. Landis, Esq. 650 Poydras Street, Suite 2500 New Orleans, Louisiana 70130 Telephone: 504-299-3300 Facsimile: 504-299-3399 E-mail: ddraper@hellerdraper.com gbrouphy@hellerdraper.com mlandis@hellerdraper.com Counsel to the Official Committee of Unsecured Creditors: PACHULSKI STANG ZIEHL & JONES LLP James I. Stang, Esq. Iain A.W. Nasatir, Esq. Andrew W. Caine, Esq. Karen B. Dine, Esq. 10100 Santa Monica Blvd., Ste. 1300 Los Angeles, CA 90067 Telephone: (310) 277-6910 Facsimile: (310) 201-0760 Email: jstang@pszjlaw.com inasatir@pszjlaw.com acaine@pszjlaw.com kdine@pszjlaw.com TROUTMAN PEPPER LOCKE LLP Omer F. Kuebel, III, Esq. Bradley C. Knapp, Esq. 601 Poydras Street, Suite 2660 New Orleans, Louisiana 70130-6036 Telephone: (504) 558-5210 Facsimile: (504) 910-6847 Email: rkuebel@lockelord.com TROUTMAN PEPPER LOCKE LLP W. Steven Bryant, Esq. 300 Colorado Street, Ste. 2100 Austin, Texas 78701 Telephone: (512) 305-4726 Facsimile: (512) 305-4800 Email: steven.bryant@troutman.com 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. ARIS WATER: S&P Places 'B+' ICR on 'B+ CreditWatch Positive ----------------------------------------------------------- S&P Global Ratings placed its 'B+' issuer credit and 'B+' issue-level ratings on Aris Water Solutions Inc. on CreditWatch positive. The CreditWatch placement reflects the likelihood that S&P will raise the ratings after the acquisition closes in the fourth quarter of 2025. On Aug. 6, 2025, Western Midstream Operating L.P. announced it executed a definitive agreement to acquire all outstanding shares of Aris Water Solutions Inc. in an equity and cash transaction valued at approximately $1.5 billion. S&P said, "We placed our ratings on Aris on CreditWatch with positive implications to reflect the likelihood that we will raise the ratings following close of its acquisition by Western Midstream Operating L.P." ASCEND PERFORMANCE: Taps Deloitte as Tax Advisory Services Provider ------------------------------------------------------------------- Ascend Performance Materials Holdings Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Deloitte Tax LLP as tax advisory services provider. The firm will render these services: (a) provide services to the Debtors in connection with their debt restructuring; (b) (i) prepare the global tax returns for tax years 2022, 2023, and 2024, (ii) assist in calculating estimated tax payments to the Global Compliance Services SOW, and (ii) perform consulting services, as requested by the Debtors and agreed to by Deloitte Tax; (c) prepare the 2022-2024 federal and state income tax returns and assist in calculating the amounts of extension payments and preparing extension requests for the aforementioned tax returns; (d) provide tax advisory services for the Debtors as they undertake an assessment of the Internal Revenue Code (IRC) Section 48C qualifying advanced energy project credit for their select proposed project at their U.S. facility, which will be mutually agreed upon between Deloitte Tax and the Debtors; (e) provide tax orientations, federal and state tax return preparation and other tax services to current and former employees and contractors considering international assignments or other relocations, as identified by the Debtors, for the 2023 and 2024 tax years; (f) assist in documenting certain intercompany transactions between the Debtors and their affiliates during fiscal year 2024 and analyzing such transactions subject to IRC Section 482 and based on certain standards related to transfer pricing; and (h) will assist the Debtors with the restructuring of their European operations. Tax Restructuring Statement of Work (SOW) fees rates per hour: Washington National Tax/Specialist $948 Partner/Principal/Managing Director $900 Senior Manager $848 Manager $796 Senior Staff $680 Staff $596 Global Compliance Services SOW fees rates per hour: Washington National Tax/Specialist $1,100 Washington National Tax Managing Director $810 Partner/Principal/Managing Director $610 Senior Manager $485 Manager $390 Senior Staff $300 Staff $230 Tax Compliance SOW fixed fee for tax years: (a) Tax Year 2022 $268,875 (b) Tax Year 2023 $275,500 (c) Tax Year 2024 $282,000 If additional tax returns are required, or other unanticipated out of scope services are requested by the Debtors, Deloitte Tax will bill the Debtors based on the amount of professional time required and the experience level of the professionals involved, as follows: Washington National Tax/Specialist $1,100 Washington National Tax Managing Director $810 Partner/Principal/Managing Director $610 Senior Manager $485 Manager $390 Senior Staff $300 Staff $230 Pursuant to the terms of the IRC Section 48C SOW, Deloitte Tax will bill the Debtors based on the amount of professional time required and the experience level of the professionals involved, as follows: Phase I - Preliminary Analysis and Concept Paper $60,000 Phase II - Application and Certification Assistance $175,000 $250,000 Phase III - Documentation Assistance $75,000 - $250,000 Phase IV - Ad Hoc Tax Consulting: Partner/Principal/Managing Director $830 Senior Manager $689 Manager $647 Senior Staff $510 Staff $410 Pursuant to the terms of the Second IRC Section 48C SOW, Deloitte Tax will bill the Debtors on a fixed fee basis, as follows: Phase I - Concept Paper $45,000 - $60,000 Phase II - Application Assistance $175,000 - $250,000 Pursuant to the terms of the GES Services SOW, Deloitte Tax will bill the Debtors on a fixed fee basis in the aggregate amount of approximately $58,241. Pursuant to the terms of the Transfer Pricing SOW, Deloitte Tax will bill the Debtors on a fixed fee basis for the tax services performed, as follows: (a) Transfer Pricing Documentation Reports - $51,750: (i) Ascend-U.S. (ii) Ascend-U.S. Branch (b) Transfer Pricing Documentation Reports - $45,000: (i) Ascend-Netherlands (Local Review) (ii) Ascendd-Belgium (iii) Ascend-France (iv) Ascend-Singapore (c) Transfer Pricing Services - $37,615: (i) Ascend-India (ii) Ascend-Italy (c) OECD Master File - $15,000 (i) Ascend Group (d) Global Benchmarking Memorandum - $35,000 (i) Ascend Group Pursuant to the terms of the Project Lambert SOW, Deloitte Tax estimates that it will bill the Debtors as follows based on estimates of hours and hourly rates: Feasibility Analysis - $160,000 Detailed Step Plan Design - $325,000 Implementation Assistance - $325,000 Post-Implementation Assistance - $50,000 In addition, the firm will seek reimbursement from the expenses incurred. Prior to the petition date, the firm received three retainer payments totaling $900,000. Rupesh Vadapalli, a partner at Deloitte Tax, 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: Rupesh R. Vadapalli Deloitte Tax LLP 1111 Bagby Street, Suite 4500 Houston, TX 77002 About Ascend Performance Materials Ascend Performance Materials Holdings Inc. and its affiliates are one of the largest, fully-integrated producers of nylon, a plastic that is used in everyday essentials like apparel, carpets, and tires, as well as new technologies like electric vehicles and solar energy systems. Ascend's business primarily revolves around the production and sale of nylon 6,6 (PA66), along with the chemical intermediates and downstream products derived from it. Common applications of PA66 include heating and cooling systems, air bags, batteries, and athletic apparel. Headquartered in Houston, Texas, Ascend has a global workforce of approximately 2,200 employees and operates 11 manufacturing facilities that span the United States, Mexico, Europe, and Asia. Ascend and its affiliates filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90127) on April 21, 2025, with $1 billion to $10 billion in both assets and liabilities. Robert Del Genio, chief restructuring officer, signed the petitions. Judge Christopher M. Lopez presides over the cases. The Debtors tapped Bracewell, LLP, Kirkland & Ellis, LLP and Kirkland & Ellis International, LLP as bankruptcy counsel; PJT Partners, Inc. as investment banker; FTI Consulting, Inc. as restructuring advisor; and Deloitte Tax LLP as tax advisory services provider. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. ASSURE AFFORDABLE: Case Summary & Six Unsecured Creditors --------------------------------------------------------- Debtor: Assure Affordable Homes, Inc. 14471 Livernois, Suite R Detroit, MI 48238 Business Description: Assure Affordable Homes specializes in third-party real estate management and provides professional property appraisal services. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court Eastern District of Michigan Case No.: 25-47953 Judge: Hon. Mark A Randon Debtor's Counsel: Alexander J. Berry-Santoro, Esq. MAXWELL DUNN PLC 2937 E. Grand Blvd. Suite 308 Detroit, MI 48202 Tel: (248) 246-1166 E-mail: aberrysantoro@maxwelldunnlaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Lavara Berry as authorized officer. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WV33THI/Assure_Affordable_Homes_Inc__miebke-25-47953__0001.0.pdf?mcid=tGE4TAMA ASTRO ACQUISITION: Fitch Assigns 'B' LongTerm IDR, Outlook Stable ----------------------------------------------------------------- Fitch Ratings has assigned Astro Acquisition, LLC (dba Cooper Machinery Services [Cooper]) a Long-Term Issuer Default Rating (IDR) of 'B'. Fitch has also assigned Cooper's planned senior secured Term Loan and revolver a 'B+' rating with a Recovery Rating of 'RR3'. Term loan proceeds will be used to refinance existing debt and pay dividends. The Rating Outlook is stable. Cooper's 'B' rating reflects its strong position as a provider of proprietary aftermarket parts and maintenance services for a large installed base of natural gas infrastructure. This position generates highly recurring revenue, strong profitability, and considerable financial flexibility, including Fitch-forecasted annual FCF of $35 million-$45 million. However, the rating is constrained by Cooper's small scale, limited end-market diversification, and EBITDA interest coverage in the low-2x range following debt-funded dividends. Fitch expects Cooper's entrenched and stable market position, enhanced by tuck-in acquisitions and growing market share, will gradually improve credit metrics. Key Rating Drivers Mission-Critical Aftermarket Business: Cooper generates about 98% of its revenue from its aftermarket business, where demand is often non-discretionary, non-deferrable, and inelastic. Gas transmission networks require engines and compressors to operate continuously and reliably, which require regular maintenance. Maintenance costs are usually lower than replacement costs over the equipment's life, strengthening Cooper's position particularly within its installed base. Vertical Integration as a Competitive Advantage: Cooper's original equipment manufacturing (OEM) capabilities are a competitive advantage. Its strong profitability is supported by aftermarket part sales and upgrades, with shop repairs and field services enhancing the overall value proposition within Cooper's vertically integrated service offering. High Barriers to Entry: Cooper's proprietary rights and mission-critical products secure its position in a captive market. The risk of reverse-engineered parts by competitors is mitigated by over 200 patents and by the high cost of untested parts failure and warranty issues that leads to low customer turnover, further supported by Cooper's long-established installed base of over 10,000 own-make units. Cooper can also growth by supplying parts and services for equipment made by other OEMs. Limited End-Market Diversification: Cooper serves only compressors and engines in the mature natural gas infrastructure industry. Its growth mainly depends on expanding its customer base during major overhauls or emission-related upgrades. Fitch considers Cooper's growth potential is somewhat limited. However, Cooper is well-diversified within the industry, with a large portfolio of proprietary and mission-critical parts of over 55,000 SKUs (including less critical third-party parts) and over 600 customers globally. Its top 10 customers, with average tenure relationships of around 45 years contributed around 40% of 2024 revenue. Strong Profitability and FCF: Fitch expects Cooper to generate EBITDA margins in the low-30% range and pre-dividend FCF margin in the high single- to low double-digit range during 2025-2028. Cooper's profitability benefits from its proprietary, mission-critical products and the improvement in its operating leverage as it expands its presence into other non-Cooper installed bases through upgrades. Cooper's financial flexibility is strong for a 'B' rating and provides deleveraging capacity. Fitch recognizes that acquisitions could enhance service and capability offerings, further strengthening its cash flow profile. Debt-funded Dividends Drive 'B' Metrics: Fitch expects Cooper's EBITDA leverage and EBITDA interest coverage to be close to 6x and in the low-2x range respectively, after refinancing and dividend payment of around $250 million. . Fitch forecasts EBITDA leverage to gradually improve to the mid-5x range in 18-24 months. Credit facilities are covenant-light and accommodate its high leverage. Fitch views Cooper's capital allocation policy as key determinant of its 'B' rating. Profitability improvement, using FCF to reduce debt or execute strategic and margin-accretive acquisitions is supportive of credit, while a continuation of shareholder returns could remain a rating constraint. Peer Analysis Cooper's strong cash flow profile, supported by its highly defensible market position, is comparable to peers in the Diversified Industrials space, such as Arxis co-borrowers (B+/Stable), Signia Aerospace, LLC (B+/Stable), and WEC US Holdings Ltd (B+/Stable). Cooper's profitability is on par with Arxis co-borrowers, but its smaller scale, limited end-market diversification, and weaker coverage metrics explain the one-notch differential. Cooper's stronger aftermarket exposure than Signia is more than offset by its weaker FCF margin, resulting in Cooper's rating being one notch lower than Signia's. Cooper's stronger profitability than that of WEC US is more than offset by its weaker market position and higher leverage, explaining the one-notch difference. Key Assumptions - Organic revenue grows by low- to mid-single digits annually over the forecasted period; - EBITDA margins in the low-30% range over the forecast horizon; - The company pursues bolt-on M&A that are margin-supportive, on an opportunistic basis; - No dividends to the sponsor over the next few years. Recovery Analysis Key Recovery Rating Assumptions - The recovery analysis assumes that Cooper would be reorganized as a going-concern (GC) in bankruptcy rather than liquidated; - Fitch has assumed a 10% administrative claim. GC Approach The GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. The $90 million GC EBITDA assumes degraded relationships and the corresponding loss of its top three customers. Fitch assumes revenue falls by 21.8% and EBITDA margin deteriorates to 30%. An enterprise valuation multiple of 6.0x EBITDA is applied to the GC EBITDA to calculate a post-reorganization enterprise value. The multiple considers the company's proprietary, mission-critical, and vertically integrated product offering, entrenched market position with high barriers to entry and the meaningful value derived from its decades-long relationship with customers, as well as valuation multiples for other comparable companies in the sector. The RCF is assumed to be fully drawn. The secured credit facility and term loan are pari passu and receive equal priority in the distribution of value in the recovery waterfall. The recovery rating analysis results in a 'B+'/'RR3' recovery for the secured debt. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Weakening profitability and cash flow profile, leading to EBITDA coverage below 2.0x and (CFO-capex)/debt below 2.5% for a sustained period; - Shift to a more aggressive financial policy or acquisition strategy, leading to EBITDA leverage sustained above 6.5x; Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Improved financial profile, leading to EBITDA coverage above 2.5x and (CFO-capex)/debt above 5% for a sustained period; - Demonstrated commitment to financial policy, supporting EBITDA leverage maintained below 5.0x; - Increased market share, driven by successful penetration into other non-Cooper installed base. Liquidity and Debt Structure Post-refinancing, Cooper's debt structure will be consisted of a $120 million senior secured revolver (undrawn) and a $700 million senior secured term loan B. The term loan will amortize at 1% per annum and mature in 2032. Issuer Profile Astro Acquisition, LLC (dba Cooper Machinery Services) is a proprietary aftermarket parts and services provider in the natural gas transmission industry, based in Houston, TX. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Macro and Sector Forecasts data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- Astro Acquisition, LLC LT IDR B New Rating senior secured LT B+ New Rating RR3 AT HOME: Creditors' Committee Slams Chapter 11 Plan Disclosures --------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that the unsecured creditors' committee in At Home Group's Chapter 11 case has opposed the retailer's proposed plan disclosure statement, claiming it presents an unconfirmable plan that violates the Bankruptcy Code. The Troubled Company Reporter previously reported that the Debtors filed with the U.S. Bankruptcy Court for the District of Delaware a Disclosure Statement relating to the Joint Plan of Reorganization dated July 29, 2025. At Home is a home dÃ©cor and furnishings brand that offers its customers a broad assortment of everyday and seasonal products for any room in the home. At Home's merchandise is sold to its millions of customers through its approximately 260 large format retail locations across 40 states and the Company's e-commerce website. In the months leading up to the Petition Date, the Company engaged in good faith arm's-length negotiations that included extensive diligence and meetings with the Ad Hoc Group. As a result of those negotiations, on June 16, 2025, the Debtors entered into an RSA with the Ad Hoc Group and other lenders and noteholders that collectively hold approximately 96% of the Company's first lien debt, pursuant to which the Debtors are effectuating the Restructuring Transactions through "prearranged" Chapter 11 Cases. The key terms of the RSA, which are incorporated into the Plan, include: * the Debtors' entry into financing arrangements to provide funding throughout the duration of these Chapter 11 Cases in the form of (a) a priming superpriority senior secured debtor-in possession financing multi-draw term loan (the "DIP Facility") comprised of a $200 million new money commitment and a $400 million roll-up of the Pari First Lien Obligations (as defined in the DIP Orders) and (b) the consensual use of cash collateral; * the conversion of Allowed Superpriority DIP Claims into 98% of the Reorganized Common Stock upon emergence from the Chapter 11 Cases subject to dilution by the MIP Shares; * each Holder of an ABL Facility Claim receiving payment in full; * each Holder of an Allowed Secured Claim arising out of its Allowed First Lien Claim receiving its Pro Rata Share of the First Lien Equity Distribution comprised of all remaining Reorganized Common Stock after giving effect to the DIP Equity Conversion (subject to dilution by the MIP Shares); * each Holder of an Allowed General Unsecured Claim receiving its pro rata share of $[â—]; * the cancellation of Existing Equity Interests; * funding for plan distributions in the form of a new, exit asset-based loan facility to be entered into by the Reorganized Debtors on the Effective Date; and * the adoption of the Management Incentive Plan by the New Board within 90 days of the Effective Date, which will provide up to 10% of the Reorganized Equity for management and the New Board. The RSA provides for repayment of each Allowed Superiority DIP Claim in full with Reorganized Equity in the amount of its pro rata share of the DIP Equity Conversion (subject to dilution on account of the MIP Shares). All remaining Reorganized Equity after giving effect to the DIP Equity Conversion, shall be valued at the midpoint provided in the Valuation Analysis, distributed pro rata to holders of Allowed First Lien Claims on account of their Allowed Secured Claims in respect thereof, and was used to calculate the projected recoveries with respect to the Allowed Secured Claims arising out of the Allowed First Lien Claims.6 As discussed further in Article III.B of Plan, Holders of an Allowed First Lien Claim, shall have a First Lien Deficiency Claim for the amount remaining after accounting for the recovery on account of the Allowed Secured Claim arising out of their Allowed First Lien Claim. Class 9 consists of General Unsecured Claims. Except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment of its Allowed General Unsecured Claim, in full and final satisfaction, settlement, release, and discharge of each Allowed General Unsecured Claim, on the Effective Date, each Holder of any Allowed General Unsecured Claim shall receive its Pro Rata Share of $[â—]; provided that the recovery under the Plan of such Holder of an Allowed General Unsecured Claim that is also an Intercompany Note Claim shall be payable to the indenture trustee and collateral agent for the Cayman Notes for distribution to the Holders of the Allowed Cayman Notes Claims in accordance with the documents governing the Cayman Notes only until such Cayman Notes are repaid in full. The allowed unsecured claims total $1,375,000,000.00. The Disclosure Statement still has blanks as to the estimated allowed amount and percentage recovery for holders of unsecured claims. The Debtors and the Reorganized Debtors, as applicable, shall fund distributions under the Plan with: (1) the Debtors' Cash on hand as of the Effective Date; (2) the proceeds of the Exit ABL Facility; and (3) the Reorganized Equity. Each distribution and issuance referred to in the Plan shall be governed by the terms and conditions set forth in the Plan applicable to such distribution or issuance and by the terms and conditions of the instruments or other documents evidencing or relating to such distribution or issuance, which terms and conditions shall bind each Entity receiving such distribution or issuance. A full-text copy of the Disclosure Statement dated July 29, 2025 is available at https://urlcurt.com/u?l=xCDzri from Omni Agent Solutions, Inc. About At Home Group Inc. At Home Group Inc. is a home decor and furnishings retailer offering a wide range of everyday and seasonal products for all areas of the home. The Company operates 260 large-format stores across 40 U.S. states and an e-commerce platform. Headquartered in Coppell, Texas, At Home was founded in 1979 and employs 7,170 people. On June 16, 2025, At Home announced it entered a Restructuring Support Agreement (RSA) with certain of its lenders, which will eliminate substantially all of its long-term debt and provide the Company with new financial resources to support the business and position At Home for future success. To implement the terms of the RSA, At Home and 41 of its subsidiaries have commenced voluntary Chapter 11 proceedings in Delaware (Bankr. D. Del. Lead Case No. 25-11120). The proceedings are pending before Judge J. Kate Stickles. In connection with this process, At Home is entering into an agreement for $600 million in debtor-in-possession financing, which includes a $200 million capital infusion from certain of its existing lenders and a "roll up" of $400 million of existing senior secured debt. The Debtors tapped Kirkland & Ellis LLP as restructuring counsel; Young Conaway Stargatt & Taylor, LLP, as Delaware restructuring counsel; AlixPartners LLP as financial advisor; and PJT Partners, Inc., as investment banker. Omni Agent Solutions, Inc., is the claims agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. ATLANTIC NATURAL: Court OKs Food Equipment Sale to Moody Dunbar --------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Louisiana has approved Atlantic Natural Foods LLC to sell Property, free and clear of liens, claims, and encumbrances. The Debtor is a Delaware limited liability company and is a producer of plant-based foods with a family of brands that include Loma Linda, TUNO, and Kaffree Roma. Details and description of the Property can be found at: https://urlcurt.com/u?l=BtBTk3 The Court has authorized the Debtor to sell the Property to o Moody Dunbar, Inc. for $94,200.00. The Court held that the Purchaser is a good faith purchaser of the Property being sold to it and is hereby granted and is entitled to all of the protections provided to a good faith purchaser under 11 U.S.C. Section 363(m). The Property shall be sold free and clear of all liens, claims, encumbrances, mortgages and judgments upon payment of the Net Sale Proceeds to Comerica. The Comerica Lien shall attach to the net sale proceeds from the sale of the Property which consist of the gross sale proceeds of $94,200.00, minus (a) the professional fees incurred in connection with the sale of the property in the amount of $13,000.00 and (b) five percent broker fees in the amount of $4,710.00, for net sale proceeds in the amount of $76,490.00. The Net Sale Proceeds shall be paid to Comerica at the closing of the sale to reduce its indebtedness, in accordance with the loan documents between the Debtor and Comerica. The Order shall be effective and enforceable immediately upon entry and its provisions shall be self-executing. About Atlantic Natural Foods LLC Atlantic Natural Foods, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-10676) on April 7, 2025, listing between $10 million and $50 million in assets and between $1 million and $10 million in liabilities. J. Douglas Hines, manager, signed the petition. Judge Meredith S. Grabill oversees the case. The Debtor tapped Tristan Manthey, Esq., at Fishman Haygood, LLP as counsel and Malcom M. Dienes LLC as accountant. BALL CORP: S&P Rates New $750MM Senior Unsecured Notes 'BB+' ------------------------------------------------------------ S&P Global Ratings assigned its 'BB+' issue-level rating and '3' recovery rating to Ball Corp.'s (BB+/Stable) proposed $750 million senior unsecured notes due 2033. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a default. The company intends to use the net proceeds from this offering, together with cash on hand, for general corporate purposes, which may include the refinancing or repayment of debt (including upcoming debt maturities and callable debt), potential investments in strategic alliances and acquisitions, working capital, pension contributions, or capital expenditures. Prior to using these proceeds for such purposes, Ball intends to repay the outstanding borrowings under its dollar-denominated revolver, which had $700 million of outstanding borrowings as of July 31, 2025. The new notes will rank pari passu with the company's existing senior unsecured notes. S&P expects the company will continue to operate with S&P adjusted debt leverage in the mid to low 3x area. BESPOKE CONSTRUCTION: Hires Hester Baker Krebs LLC as Attorney -------------------------------------------------------------- Bespoke Construction, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to hire the law firm of Hester Baker Krebs LLC as attorneys. The firm's services include: a. taking necessary or appropriate actions to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor's estate; b. preparing on behalf of the Debtor, as debtor in possession, necessary or appropriate motions, applications, answers, orders, reports and other papers in connection with the administration of the Debtor's estate; c. providing advice, representation, and preparation of necessary documentation and pleadings regarding debt restructuring, statutory bankruptcy issues, post-petition financing, real estate, business and commercial litigation, tax, and, as applicable, asset dispositions; d. counseling the Debtor with regard to its rights and obligations as debtor-in-possession, and its powers and duties in the continued management and operations of its business and properties; e. taking necessary or appropriate actions in connection with a plan or plans of reorganization and related disclosure statement and all related documents, and such further actions as may be required in connection with the administration of the Debtor's estate; and f. acting as general bankruptcy counsel for the Debtor and performing all other necessary or appropriate legal services in connection with the Chapter 11 case. The firm's standard hourly rates are: Jeffrey H. Hester, Member $450 John A. Allman, Member $420 Marsha Hetser, Paralegal $215 Donna Adams, Paralegal $215 Tricia Hignight, Paralegal $215 The firm received an initial retainer in the amount of $20,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Jeffrey H. Hester, Esq., a partner at Hester Baker Krebs LLC as Counsel, 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 M. Hester, Esq. Hester Baker Krebs LLC Suite 1330, One Indiana Square Indianapolis, IN 46204 Email: jhester@hbkfirm.com Telephone: (317) 608-1129 Facsimile: (317) 833-3031 About Bespoke Construction LLC Bespoke Construction LLC is a general contractor based in Indianapolis, Indiana, that provides residential and state-funded construction services, including universal design renovations, custom millwork, ADA-compliant modifications, and project management. It serves clients through tailored design and building solutions with a focus on accessibility, craftsmanship, and functional improvements. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-04181) on July 16, 2025. In the petition signed by Robert Cooper, authorized representative of the Debtor, the Debtor disclosed $1,425,361 in total assets and $5,379,966 in total liabilities. Judge James M. Carr oversees the case. Jeffrey Hester, Esq., at Hester Baker Krebs, LLC, represents the Debtor as legal counsel. BEST CHEER: Seeks Approval to Hire Braunco.com as Appraiser ----------------------------------------------------------- Best Cheer Stone, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Braunco.com as appraiser. The firm will provide a restricted appraisal report for the forced liquidation value of the as-is market value of the personal property utilizing the "sales comparison" located at 3190 E. Miraloma Ave., Anaheim, CA 92806, 7267 Coldwater Canyon Ave., North Hollywood, CA 91605, and 8515 Miramar Place, Suite A, San Diego, CA 92121. The firm will receive a flat fee of $17,000 for appraisal services. Additional post engagement support requested by Debtor such as preparation for testimony travel time, interviews, depositions, and court time is an additional $495 per hour, plus reimbursement for expenses. Anthony Fitzgerald of Braun Inc. disclosed in court filings that the firm does not represent any interest adverse to the Debtor's estate. Braun Inc. can be reached through: Anthony E. Fitzgerald Braun Inc. 180 Sansome St., 5th Floor San Francisco, CA 94104 Tel: (866) 568-6638 About Best Cheer Stone, Inc. Best Cheer Stone Inc. supplies natural and engineered stone products, including granite, marble, and quartzite, for residential and commercial use. Headquartered in Anaheim, California, the Company operates a vertically integrated business with global quarries and manufacturing facilities. Established in 1994, it also offers prefabricated countertops, cabinets, and related home improvement materials. Best Cheer Stone Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11344) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Scott C. Clarkson handles the case. The Debtors are represented by Robert P. Goe, Esq. at GOE FORSYTHE & HODGES LLP. BIG LOTS: Reaches Deal with Gordon Bros. on HQ Sale Funds --------------------------------------------------------- Ben Zigterman of Law360 repots that Big Lots, now in liquidation, told a Delaware bankruptcy judge it has settled with Gordon Brothers Retail Partners, which had sought the first $10 million from the $36 million sale of the retailer's corporate headquarters in Ohio. About Big Lots Big Lots (NYSE: BIG) -- http://www.biglots.com/-- is one of the nation's largest closeout retailers focused on extreme value, delivering bargains on everything for the home, including furniture, decor, pantry and more. On Sept. 9, 2024, Big Lots, Inc. and each of its subsidiaries initiated voluntary Chapter 11 proceedings (Bankr. D. Del. Lead Case No. 24-11967). The case is being administered by the Honorable J. Kate Stickles. Davis Polk & Wardwell LLP is serving as legal counsel, Guggenheim Securities, LLC is serving as financial advisor, AlixPartners LLP is serving as restructuring advisor, and A&G Real Estate Partners is serving as real estate advisor to the Company. Kroll is the claims agent. Kirkland & Ellis is serving as legal counsel to Nexus Capital Management LP. PNC Bank, National Association, the DIP ABL Agent and Prepetition ABL Agent, is represented by Choate, Hall & Stewart, LLP; and Blank Rome, LLP. 1903P Loan Agent, LLC, the DIP Term Agent, and the Prepetition Term Loan Agent are represented by Otterbourg, P.C. and Richards, Layton & Finger, P.A. BMI OLDCO: Hires Togut Segal & Segal LLP as Bankruptcy Counsel -------------------------------------------------------------- BMI Oldco Inc. and its debtor affiliate seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Togut, Segal & Segal LLP as general bankruptcy counsel to the special committee. The firm's services include: a. advising the Special Committee on issues relating to matters of bankruptcy law, fiduciary duties, and corporate governance; b. advising the Special Committee as it investigates, prosecutes and/or settles estate causes of action; c. participating in Special Committee meetings and advising the Special Committee regarding its reporting obligations pursuant to the Governance Protocol; d. reviewing documents and filings in the Chapter 11 Cases; e. researching issues related to the conduct of the Special Committee’s work pursuant to the Governance Protocol; f. drafting necessary applications, motions, objections, answers, orders, reports and other legal papers in the Chapter 11 Cases related to the Special Committee's work pursuant to the Governance Protocol; g. appearing on behalf of the Special Committee at hearings, proceedings before the Court, and meetings and other proceedings in the Chapter 11 Cases related to the Special Committee's work pursuant to the Governance Protocol, as appropriate; and h. providing all other necessary legal services for the Special Committee in connection with the Chapter 11 Cases related to the Special Committee's work pursuant to the Governance Protocol. The firm will be paid at these hourly rates: Partners $1,575 to $1,830 Counsel $1,140 to $1,375 Associates $535 to $1,225 Paralegals and Law Clerks $315 to $560 In addition, the firm will seek reimbursement for expense incurred. The Togut Firm responds to the following questions in the UST Guidelines in compliance with paragraph D, section 1 as follows: 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 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 the reasons for the difference. Response: The Togut Firm did not represent the client prepetition. Question: Has your client approved your prospective budget and staffing plan, and if so, for what budget period? Response: The Togut Firm expects to develop a budget and staffing plan to be shared with the Debtors and the Special Committee for the period from May 27, 2025 through the remainder of 2025. Albert Togut, Esq., a senior member of Togut, Segal & Segal, 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: Albert Togut, Esq. Togut, Segal & Segal LLP One Penn Plaza, Suite 3335 New York, NY 10119 Telephone: (212) 594-5000 Facsimile: (212) 967-4258 Email: altogut@teamtogut.com About Barretts Minerals Inc. Barretts Minerals Inc.'s current operations are focused on the mining, beneficiating, processing, and sale of industrial talc. It historically supplied a relatively minor percentage of its sales into cosmetic applications. Barretts Minerals' talc is sold to distributors and third-party manufacturers for use in such parties' products, which are then incorporated into downstream products eventually sold to consumers. Barretts Minerals and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90794) on Oct. 2, 2023. In the petition signed by its chief restructuring officer, David J. Gordon, Barretts Minerals disclosed $50 million to $100 million in assets and $10 million to $50 million in liabilities. The case was initially assigned to Judge David R. Jones before Judge Marvin Isgur took over. The Debtors tapped Porter Hedges, LLP and Latham& Watkins, LLP as legal counsel; M3 Partners, LP as financial advisor; Jefferies, LLC as investment banker; and DJG Services, LLC as restructuring advisor. David J. Gordon of DJG Services serves as the Debtors' chief restructuring officer. Stretto, Inc. is the claims, noticing and solicitation agent and administrative advisor. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. Caplin & Drysdale, Chartered and Province, LLC serve as the committee's legal counsel and financial advisor, respectively. BMI OLDCO: Seeks to Hire Norton Rose Fulbright as Special Counsel ----------------------------------------------------------------- BMI Oldco Inc. and its debtor affiliate seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Norton Rose Fulbright US LLP as special counsel to the special committee. Following the commencement of the Chapter 11 Cases, the Board established a special committee vested with the exclusive power and authority to, among other things, oversee estate causes of action against the Debtors' non-Debtor affiliates. The firm has been engaged by the Special Committee for the discrete purpose of conducting the investigation of estate causes of action as contemplated by the Governance Protocol. The current hourly rates charged by NRF are: Partners $820 to $2310 Senior Associates $715 to $1160 Senior Counsel $660 to $1610 Counsel $345 to $1225 Associates $570 to $1140 Patent Agents $330 to $785 Of Counsel $595 to $1650 Paralegals $185 to $615 Practice Support $90 to $475 In addition, the firm will receive 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 Revised UST Guidelines: a. Question: Did you agree to any variations from, or alternative to, your standard or customary billing arrangements for this engagement? Answer: NRF has not agreed to any various from, or alternatives to, NRF's standard and customary billing arrangements. The rate structure provided by NRF is appropriate and is not significantly different from (a) the rates that NRF charges for other non-bankruptcy representations or (b) the rates of other comparably skilled professionals. b. Question: Do any of the NRF professionals in this engagement vary their rate based on the geographic location of the Debtors' Chapter 11 Cases? Answer: No. The hourly rates used by NRF in representing the Special Committee are consistent with the rates that NRF charges other comparable chapter 11 clients, regardless of the location of the chapter 11 case. c. Question: If NRF has represented the Debtors in the 12 months prepetition, disclose NRF's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If NRF's billing rates and material financial terms have changed post petition, explain the difference and the reasons for the difference. Answer: NRF did not represent the Debtors in the 12 months prepetition. d. Question: Has your client approved your prospective budget and staffing plan and if so, for what budget period? Answer: NRF has discussed a prospective budget and staffing plan with the Special Committee for purposes of this engagement. Jason Boland, Esq., co-head of restructuring at Norton, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jason L. Boland, Esq. Norton Rose Fulbright US, LLP 1301 Avenue of the Americas New York, NY 10019-6022 Tel: (212) 318-3000 Fax: (212) 318-3400 Email: jason.boland@nortonrosefulbright.com About BMI Oldco Inc. BMI Oldco Inc. BMI Oldco Inc. and Barretts Ventures Texas LLC filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 3-90764) on October 2, 2023. At the time of filing, the Debtor listed $50,000,001 to $100 million in assets and $10,000,001 to $50 million in liabilities. Judge Marvin Isgur handles the case. John F Higgins, IV, Esq. at Porter Hedges LLP represents the Debtor as counsel. BRIGGS BROTHERS: Seeks Chapter 11 Bankruptcy in Louisiana --------------------------------------------------------- On August 4, 2025, Briggs Brothers Enterprises Corporation filed Chapter 11 protection in the Eastern District of Louisiana. 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 Briggs Brothers Enterprises Corporation Briggs Brothers Enterprises Corporation is a licensed general contractor based in New Orleans, Louisiana. The Company provides construction services for highway, street, bridge, and municipal public works projects, and has performed work under federal contracts across multiple states. It is certified as an SBA 8(a) and HUBZone small business. Briggs Brothers Enterprises Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No.: 25-11674) on August 4, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtor is represented by Derek Russ, Esq. BROOK + WHITTLE: Enters Negotiations w/ Lenders for Fresh Funding ----------------------------------------------------------------- Reshmi Basu and Carmen Arroyo of Bloomberg News report that Brook + Whittle, a packaging company backed by Genstar Capital, is in discussions with certain lenders to negotiate a deal that would give it more time to navigate a liquidity crunch, according to sources familiar with the matter. Under the proposal, lenders would inject new capital through a first-out loan to bolster the company's cash reserves. In exchange, holders of Brook's approximately $500 million term loan due in 2028 would swap their debt for a new second-out loan, the sources said. About Brook + Whittle Brook & Whittle Ltd. provides printing and packaging solutions. The Company designs and manufactures labels and packaging for a wide range of industries including personal care, beverage, household, and food. Brook & Whittle markets its products and services in the United States. CASH CLOUD: Court Affirms Ruling on McAlary's Plan Objection ------------------------------------------------------------ In the appeal styled CHRIS MCALARY, Appellant, vs. CASH CLOUD INC., et al., Appellees, Case No.: 2:23-cv-01424-GMN (D. Nev.), Judge Gloria M. Navarro of the United States District Court for the District of Nevada affirmed the order of the United States District Court for the District of Nevada overruling the objection of Chris McAlary to: (i) Cash Cloud Inc.'s' First Amended Chapter 11 Plan of Reorganization; and (ii) the Bankruptcy Order Approving Debtor's Disclosure Statement on a Final Basis and Confirming Debtor's First Amended Chapter 11 Plan of Reorganization. On Aug. 17, 2023, the Court held a Confirmation Hearing on Cash Cloud's First Amended Chapter 11 Plan of Reorganization. After hearing oral argument on the McAlary's objection at the Confirmation Hearing, the bankruptcy court overruled his objection and confirmed the Amended Plan. McAlary then appealed the bankruptcy court's Order overruling his objection. McAlary asserts that the bankruptcy court erred in confirming the Amended Plan because it lacks a certain effective date. He also argues that the Amended Plan's third-party releases and lack of setoff rights for his rendered the Plan unconfirmable. McAlary further argues that Cash Cloud's failure to provide notice and disclose the identity of the individuals who will serve as directors, officers, or voting trustees after confirmation should preclude confirmation of the Amended Plan. He asserts that the bankruptcy court erred in basing its final confirmation decision on evidentiary submissions filed two days prior to the Confirmation Hearing. The District Court is not aware of any cases in this Circuit requiring that a plan have a specific effective date within a specified amount of time from confirmation in order to satisfy the requirements of Sec. 1123(a)(5), and the cases that McAlary cites do not lead it to conclude that the bankruptcy court abused its discretion in approving the Amended Plan with a delayed effective date. McAlary argues that the Court erred in approving the Amended Plan because the Plan is not “feasible” as required by 11 U.S.C. Sec. 1129(a)(11). The District Court concludes that the bankruptcy court did not clearly err in making its factual findings and did not abuse its discretion in finding that the Amended Plan was feasible. According to Judge Navarro, "The bankruptcy court applied the correct legal rule when it stated that the actual language of Sec. 1129 was satisfied because the purpose of the plan itself is the liquidation of the debtor. ' McAlary also argues that the bankruptcy court erred in confirming the Amended Plan because it does not comply with Sec. 1129(a)(5)'s requirement that a plan disclose the identity and affiliations of individuals proposed to serve as directors, officers, or voting trustees of the debtor after the confirmation of the Amended Plan. According to the District Court, McAlary cites no support for his statement that Sec. 1129(a)(5)(A) does not contain an exception to the disclosure requirement where the debtor dissolves post-effective date. Without a single binding or persuasive case from McAlary to support his argument that the bankruptcy court was incorrect in finding that the Amended Plan was not required to comply with Sec. 1129(a)(5), the District Court does not find that the bankruptcy court identified the incorrect legal rule to apply or clearly erred in applying it. It therefore affirms the bankruptcy court's overruling of McAlary's objection under Sec. 1129(a)(5). The District Court remands the set-off rights and revised liquidation analysis issues for the bankruptcy court to consider in the first instance. A copy of the Court's Order dated August 4, 2025, is available at https://urlcurt.com/u?l=DQVXW3 from PacerMonitor.com. About Cash Cloud Cash Cloud Inc., doing business as Coin Cloud, operates automated teller machines for buying and selling Bitcoin, Ethereum, Dogecoin, and more than 40 other digital currencies with cash, card and more. Cash Cloud sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 23-10423) on Feb. 7, 2023, with $50 million to $100 million in assets and 100 million to $500 million in liabilities. Chris McAlary, president of Cash Cloud, signed the petition. Judge Mike K. Nakagawa oversees the case. The Debtor tapped Fox Rothschild, LLP as bankruptcy counsel; Baker & Hostetler, LLP as regulatory counsel; and Province, LLC as financial advisor. Stretto is the claims agent. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's case. The committee tapped McDonald Carano, LLP and Seward & Kissel, LLP as legal counsels; and FTI Consulting, Inc. as financial advisor. CASH CLOUD: Denial of McAlary's Chapter 7 Conversion Bid Affirmed ----------------------------------------------------------------- In the appeal styled CHRIS MCALARY, Appellant, vs. CASH CLOUD INC., et al., Appellees, Case No.: 2:23-cv-01580-GMN (D. Nev.), Judge Gloria M. Navarro of the United States District Court for the District of Nevada affirmed the order of the the United States Bankruptcy Court for the District of Nevada denying Chris McAlary's motion to convert the bankruptcy case of Cash Cloud Inc. to Chapter 7. McAlary argues that the bankruptcy court erred in applying 11 U.S.C. Sec. 1112(b)(2), and in finding that Sec. 1112(b)(2) was satisfied by the unusual circumstances in this case. The District Court disagrees. The bankruptcy court denied McAlary's Motion to Convert because it found unusual circumstances established that converting the case is not in the best interest of creditors and the estate. It also found that Sec. 1112(b)(2)(A) was satisfied because the plan had already been confirmed, so it was more than likely to be confirmed. The bankruptcy court explained that Sec. 1112(b)(2)(B) was satisfied because it specifically excludes Sec. 112(b)(4)(A), which is the only ground for conversion that McAlary argued in his Motion. McAlary argues that the unusual circumstances identified by the bankruptcy court were neither unusual nor establish that conversion is not in the best interest of the creditors and the estate. The bankruptcy court identified the following unusual circumstances: 1. McAlary's commencement of the Chapter 11 proceeding as the Debtor's sole shareholder, officer and director; 2. McAlary's execution of the Schedules of Assets and Liabilities, Schedules of Financial Affairs, and other material under penalty of perjury; 3. McAlary's resignation after submission of a Chapter 11 plan that permitted substantially all of the estate assets to be sold; 4. McAlary's subsequent resignation and transition to the independent director; 5. The Unsecured Creditors' Committee's investigation and pursuit of estate claims against multiple parties including McAlary; 6. The Debtor's decision to pursue confirmation of the Amended Plan rather than voluntary dismissal or conversion to Chapter 7; and 7. The absence of any other creditor support in favor of conversion. The District Court points out the circumstances that the bankruptcy court identified are not those inherently present in bankruptcy, such as disputes regarding the validity and amount of a creditor's claim. According to Judge Navarro, "The unusual facts present in this case, including McAlary's various roles in the bankruptcy and the lack of support from all other creditors in favor of conversion, support the bankruptcy court's conclusion." The District Court finds that the bankruptcy court did not clearly err in concluding that unusual circumstances in this case establish that conversion of this proceeding to Chapter 7 is not in the best interest of the creditors. Further, the bankruptcy court did not err in finding that the requirements of Secs. 1112(b)(2)(A) and (B) were met. Even if cause is established, Sec. 1112(b)(2) prohibits a bankruptcy court from converting the case if its requirements are satisfied. Because the bankruptcy court did not err in finding that the requirements of Sec. 1112(b)(2) were met, the remainder of McAlary's arguments regarding cause are moot, the District Court holds. A copy of the Court's Order dated August 4, 2025, is available at https://urlcurt.com/u?l=x228Qt from PacerMonitor.com. About Cash Cloud Cash Cloud Inc., doing business as Coin Cloud, operates automated teller machines for buying and selling Bitcoin, Ethereum, Dogecoin, and more than 40 other digital currencies with cash, card and more. Cash Cloud sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 23-10423) on Feb. 7, 2023, with $50 million to $100 million in assets and 100 million to $500 million in liabilities. Chris McAlary, president of Cash Cloud, signed the petition. Judge Mike K. Nakagawa oversees the case. The Debtor tapped Fox Rothschild, LLP as bankruptcy counsel; Baker & Hostetler, LLP as regulatory counsel; and Province, LLC as financial advisor. Stretto is the claims agent. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's case. The committee tapped McDonald Carano, LLP and Seward & Kissel, LLP as legal counsels; and FTI Consulting, Inc. as financial advisor. CBRM REALTY: Taps Hilco Real Estate as Real Estate Advisor ---------------------------------------------------------- CBRM Realty Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Hilco Real Estate, LLC as real estate advisors. The firm will render theses services: With respect to the Kelly Hamilton Engagement Agreement, Hilco will: a. meet with the Kelly Hamilton Debtor to ascertain the Kelly Hamilton Debtor's goals, objectives and financial parameters in selling the Kelly Hamilton Property. The sales structure, including reserve pricing, is more specifically described in the Kelly Hamilton Engagement Agreement; b. solicit interested parties for the sale of the Kelly Hamilton Property, and market the Kelly Hamilton Property for sale through an accelerated sales process. The bid deadline and auction are anticipated to be on August 14, 2025 at 4:00 p.m. (prevailing Eastern Time) and August 18, 2025, respectively; c. at the Kelly Hamilton Debtor's direction and on the Kelly Hamilton Debtor's behalf, negotiate the terms of the sale of the Kelly Hamilton Property; and d. provide support in connection with these chapter 11 cases, including in connection with approval of the bidding procedures, sale process, and reporting and participate in hearings and provide testimony before the Court. With respect to the NOLA Engagement Agreement, Hilco will: a. meet with the Debtors and Debtors' professionals to ascertain the Debtors' goals, objectives, financial parameters, and timeline to sell the NOLA Properties. Assess market conditions and structure individual brokers/brokerage teams based on the grouping of Properties for sale, either for individual or multi-property dispositions as guided by the Debtors' professionals. The sales structure, including reserve pricing, is more specifically described in the NOLA Engagement Agreement; b. work with the local real estate brokers (the "Local Brokers") that the Debtors retain to solicit interested parties for the sale of the NOLA Properties and market the NOLA Properties for sale through an accelerated sales process; c. at the Debtors' direction and on the Debtors' behalf, negotiate the terms of the sale of the NOLA Properties and coordinate with the Local Brokers to ensure that the desired message is conveyed to the marketplace regarding the NOLA Properties; and d. provide support in connection with these chapter 11 cases, including in connection with approval of the bidding procedures, sale process, and reporting and participate in hearings and provide testimony before the Court. The Debtors will compensate Hilco as follows: a. Fees for Kelly Hamilton Property: In the event that the Kelly Hamilton Property is sold, Hilco shall earn a fee equal to 5 percent of the Gross Sale Proceeds for the sale of the Kelly Hamilton Property. For purposes hereof, "Gross Sale Proceeds" shall mean the aggregate cash consideration received by the Kelly Hamilton Debtor in consideration of the Kelly Hamilton Property. For the Kelly Hamilton Property, no fees shall be payable in connection with the sale of the Kelly Hamilton Property to the DIP Lender, unless such sale (1) indefeasibly satisfies (through a credit bid or otherwise) the outstanding obligations under the DIP Facility (as defined in the Kelly Hamilton DIP Order), (2) includes additional cash consideration in an amount at least equal to (i) the $250,000 breakup fee due to the DIP Lender as stalking horse purchaser for the Kelly Hamilton Property, and (ii) any commission payable to any broker for the Kelly Hamilton Property; provided Hilco shall still be entitled to reimbursement of its Reimbursable Expenses. Fees for NOLA Properties: In the event any of the NOLA Properties are sold, Hilco shall earn a fee equal to one percent (1%) of the Gross Sale Proceeds. For purposes hereof, "Gross Sale Proceeds" shall mean the aggregate cash consideration received by the Debtors in consideration of a NOLA Property. The cash consideration paid for a NOLA Property shall be greater than any commission payable to any Local Broker hereunder. For the NOLA Properties, no fees shall be payable in connection with the sale of any NOLA Property to the NOLA DIP Lender, unless such sale (1) indefeasibly satisfies (through a credit bid or otherwise) the outstanding obligations under the DIP Facilityand (2) includes additional cash consideration in an amount at least equal to any commission payable to any Local Broker hereunder. b. Costs and Expenses: The Debtors shall reimburse Hilco for all reasonable and customary Reimbursable Expenses incurred in connection with the performance of the services proposed under the Engagement Agreements, for which Hilco and the Debtors shall agree on a proposed budget; provided, that such reimbursement obligation shall be capped at $20,000 for the Kelly Hamilton Property and $40,000 for the NOLA Properties. "Reimbursable Expenses" means all reasonable and documented out-of-pocket expenses incurred in connection with performance of the contemplated services, including, without limitation, reasonable expenses of marketing, advertising, economy travel and transportation. In the event that the Properties sell to a buyer other than a secured lender and Hilco is paid its commission as described in the Engagement Agreements, there will be no reimbursement of expenses. Eric Kaup, an 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: Eric W. Kaup Hilco Real Estate LLP 5 Revere Dr., Ste. 410 Northbrook, IL 60062 Telephone: (855) 755-2300 About CBRM Realty CBRM Realty Inc. is a Somerset, New Jersey-based real estate investment firm. CBRM Realty Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-15343) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities (on a consolidated basis) between $100 million to $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtors tapped White & Case LLP and Ken Rosen Advisors PC as counsel, Islanddundon LLC as financial advisor, and Kurtzman Carson Consultants, LLC, doing business as Verita Global, as claims, noticing, and solicitation agent. CBRM REALTY: Taps Larry G. Schedler as Real Estate Broker --------------------------------------------------------- CBRM Realty Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Larry G. Schedler & Associates, Inc. as real estate broker. The firm will render these services: a. market the NOLA Properties in a commercially reasonable manner, including publicizing the offering through traditional and digital channels, including L&A's and Cushman & Wakefield's multifamily marketing platforms; b. work in tandem with Hilco and in coordination with the Debtors' advisors to identify and solicit interest from prospective purchasers for the NOLA Properties; c. use commercially reasonable efforts to obtain a purchaser for the NOLA Properties at a sale price and on terms acceptable to the Debtors; d. negotiate the business terms of any purchase and sale agreements on behalf of the Debtors and in the Debtors' best interests, subject in all respects to the Debtors' final review and approval; and e. coordinate with any other professionals or agents retained by the Debtors, including co-brokers or legal advisors, to facilitate Bankruptcy Court approval and closing of any sale transactions. The firm will receive a flat fee of $250,000 upon the sale of the property. Larry G. Schedler & Associates is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, as required by section 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached through: Christian J. Schedler, CCIM Larry G. Schedler & Associates, Inc. 825 Camp St. New Orleans, LA 70130 Phone: (504) 836-7038 Email: Email: christian@larryschedler.com About CBRM Realty CBRM Realty Inc. is a Somerset, New Jersey-based real estate investment firm. CBRM Realty Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-15343) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities (on a consolidated basis) between $100 million to $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtors tapped White & Case LLP and Ken Rosen Advisors PC as counsel, Islanddundon LLC as financial advisor, and Kurtzman Carson Consultants, LLC, doing business as Verita Global, as claims, noticing, and solicitation agent. CHICAGO SMILES: Court Extends Cash Collateral Access to Sept. 5 --------------------------------------------------------------- Chicago Smiles, LLC received fourth interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral through Sept. 5 to fund business expenses in accordance with its budget, with a 10% variance allowed. The budget projects total operational expenses of $78,234.97 for August; $77,234.97 for September; and $77,234.97 for October. PNC Bank, National Association, a secured creditor, holds a claim of $490,233.61 as of the petition date and such claim is secured by a perfected lien on the Debtor's assets. Other potential secured creditors include BHG, CAN Capital Inc., and Revenued, LLC. In case of any diminution in the value of their interests in the cash collateral, the secured creditors will be granted post-petition security interests in and liens on the Debtor's assets similar to their pre-bankruptcy collateral, with the same priority, validity and enforceability as their pre-bankruptcy liens. As additional protection, PNC Bank will receive a monthly payment of $3,500 under the approved budget. A continued hearing is set for September 2. About Chicago Smiles LLC Chicago Smiles, LLC provides a range of dental services, including cosmetic, implant, and restorative dentistry. The practice offers treatments such as teeth whitening, veneers, crowns and bridges, dental implants, Invisalign, root canal therapy, and dentures. Located in Chicago, the clinic supports new patients with education on oral health, pain management, and various dental care options. Chicago Smiles sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-07740) on May 21, 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 Donald R. Cassling handles the case. William Factor, Esq., at The Law Office of William J. Factor, Ltd. is the Debtor's bankruptcy counsel. PNC Bank, N.A., as secured creditor, is represented by: Martin J. Wasserman, Esq. Carlson Dash, LLC 216 S. Jefferson St., Suite 303 Phone: 312-382-1600 mwasserman@carlsondash.com CMC ADVERTISING: Court Extends Cash Collateral Access to Oct 10 --------------------------------------------------------------- CMC Advertising, Ltd received second interim approval from the U.S. Bankruptcy Court for the Northern District of Ohio to use the cash collateral of its secured creditors. The court's second interim order authorized the Debtor to use cash collateral in accordance with its budget through October 10 or until the occurrence of so-called termination events. The main secured creditors that assert interest in the cash collateral include Huntington National Bank, Idea 247, Inc., the U.S. Small Business Administration and several merchant cash advance (MCA) creditors. The total value of the Debtor's cash and receivables was approximately $135,297 as of the petition date. As protection for any diminution in the value of their collateral, the secured creditors will be granted a replacement lien on the Debtor's property, with the same priority and extent as their pre-bankruptcy liens. In addition, Huntington and SBA will receive monthly payments of $12,694.92 and $2,505, respectively, as further protection. Payments will start this month. The other creditors will not receive any "adequate protection" payments, according to the interim order. The next hearing is set for October 7. Huntington holds two loans totaling over $752,000, while the SBA holds a COVID-19 Economic Injury Disaster Loan of $500,000, with roughly $480,000 outstanding. Idea 247 and the MCA lenders have security interests that are considered junior and may not constitute secured claims under Section 506(a) of the Bankruptcy Code. 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. COLES OF LA: Seeks to Sell Hino Box Truck to Highest Bidder ----------------------------------------------------------- Coles of La Jolla, Inc., dba Coles Fine Flooring, seeks approval from the U.S. Bankruptcy Court for the Southern District of California, to sell Vehicle, free and clear of liens, claims, interests, and encumbrances. The Debtor wants to sell the 2016 Hino box truck, Vin JHHRDM2H8GK002922 (Property) outside the ordinary course of business. The Property is unencumbered—no lienholders are listed on its Certificate of Title. A hearing has been scheduled for September 10, 2025, at 2:00 p.m. in Department 1, Room 218 of the U.S. Bankruptcy Court located at 325 West F Street, San Diego, California 92101 to approve the sale of the Property. Because the sale of the Property is subject to overbids, the Debtor will be asking the Court to treat the hearing as an auction of the Property, and the Debtor will be asking the Court to implement the bidding procedures. The Debtor was formerly in the business of selling and installing home flooring and carpeting on a retail basis. As a result of the coronavirus pandemic, the Debtor sustained financial setbacks. It attempted to downsize by moving its showroom / warehouse on Morena Boulevard to a new location but faced an additional setback when it was determined that the new location was not zoned for the Debtor’s proposed use. The Debtor has no use for the Property. Previously, the Property was parked at the Debtor's now-vacated Montiel Road store location. The Property suffered vandalism when unknown people broke into it and tried to steal it and/or various components. The batteries were stolen, wiring was cut, the passenger side window was broken, and the steering column had been dislodged. The liftgate did not work, and the Property had some body damage. The Property is therefore a wasting asset and time is of the essence in trying to derive value from it. After attempting to find a buyer for the Property by listing it for sale for approximately two months on CommercialTruckTrader.com, the Debtor contacted Fischer to ascertain whether it could be sold. Fischer offered to buy the Property for $6,500.00 for its own account. The Debtor believes that $6,500.00 is a fair and reasonable price under the circumstances and given that the Property will require fairly extensive repairs before it is drivable. Fischer has already performed some of those repairs, and the Property is currently safely on Fischer's lot. The Debtor proposes the procedures with respect to qualifying overbidders prior to the Auction, and with respect to the Auction bidding procedures themselves. The Debtor believes the following procedures are fair and reasonable, and designed to maximize the value received for the Property. All questions should be directed to Kit J. Gardner, the undersigned Debtor's General Bankruptcy Co-Counsel. 1. At any time prior to five business days before the Auction, any party besides the Buyer who is interested in participating in the sale as a potential overbidder must become a "Qualified Overbidder" by delivering to the Debtor a cashier's check made payable to Coles of La Jolla, Inc. in the amount of $5,000.00 (Deposit). All Deposits will be maintained by the Debtor. Bidder Deposits of unsuccessful bidders will be returned to the unsuccessful bidders except as herein noted. 2. At the Auction there shall be an initial minimum overbid of $1,500.00 over and above the $6,500.00 asking price, and subsequent incremental overbids of $500.00. a. Any Qualified Overbidders and/or their qualified representatives must be present to participate in the overbid process by making an appearance at the Hearing (appearances may be made remotely—contact the Court for information). b. A successful overbidder must deliver to the Seller the balance of the final purchase price (including overbids and any other amounts) in excess of the Bidder Deposit in cash or cashier's check(s) immediately upon the close of the Auction, which the Debtor shall hold pending entry of a Final Order approving the sale. c. If there is an overbid and the successful overbidder does not consummate the sale, such party shall forfeit its Deposit or Bidder Deposit, as the case may be, and the Debtor may offer the Property to the next highest overbidder (or to the Buyer in the event that there is no next highest overbidder) without further order of the Court and without further notice to any person or entity, including the parties, the Buyer, or any other overbidders. 3. Fischer shall be entitled to a $1,000.00 break up fee, or a greater or lesser amount as the Court may order, in the event that it is not the successful bidder. The Debtor respectfully requests that the Court approve and implement the foregoing proposed overbid procedures. About Coles of La Jolla, Inc. dba Coles Fine Flooring Coles of La Jolla, Inc., doing business as Coles Fine Flooring, is a family-owned and operated carpet, fine furniture and gift store specializing in specializing in fine flooring. The company is based in San Diego, Calif. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Calif. Case No. 24-00613) on Feb. 26, 2024, with $4,941,193 in assets and $3,329,830 in liabilities. Stephen M. Coles, president, signed the petition. Stella Havkin, Esq., represents the Debtor as legal counsel. CONCRETE TRUTH: Unsecured Creditors to be Paid in Full in Plan -------------------------------------------------------------- Concrete Truth Title, LLC, filed with the U.S. Bankruptcy Court for the Western District of Missouri a Combined Plan of Reorganization and Disclosure Statement dated July 30, 2025. The Debtor shall continue in possession of all of its property and assets and shall retain full power to manage its property and to sell its property to pay all Allowed Claims, subject to any conditions contained herein. Class Two includes all Allowed General Unsecured Nonpriority Claims with non-insider Creditors. This class includes the debt owed to Shell Fleet Navigator Card. Class Two includes the Shell Fleet Navigator Flex Card. Class Two shall be paid in full with the balance owed as of the filing of the petition. Class 2 is impaired. Class Three includes All Allowed General Unsecured Nonpriority Claims with insider affiliated-related entities. This class includes Tamarra Thompson who is a member of the Debtor and is owed $2,830.92. This is an Allowed Unsecured Claim which is subordinated to any Allowed Unsecured NonPriority Claims in Class 2. Class Three Tamarra Thompson, one of the members of the Debtor. She is owed $2,830.92. Once the Plan is confirmed and once payments have commenced to WSFS as set out and pay has been made to Shell Fleet Navigator Flex Card, Debtor may, if funds are available, reimburse Ms. Thompson for the funds she loaned to the Debtor to file this bankruptcy. Class 3 is impaired. Nothing contained herein or affecting these proceedings, including a lapse in or cessation of business operations, or a change of business purpose, shall cause or shall be deemed to cause any involuntary dissolution of the Debtor’s business unless such dissolution is required as a matter of law. The Debtor's estimated monthly payment to WSFS should be approximately $1,385/month. The contract for deed buyers are currently paying $2,226/month. The buyers are paying for the upkeep and repairs for the property. Other than paying an accountant for the preparation of tax returns, the Debtor does not anticipate paying any other expenses. On the Effective Date, all liens against assets and Property of the Debtor, except as explicitly herein provided, shall be extinguished and discharged. A full-text copy of the Combined Plan and Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=vSZRiY from PacerMonitor.com at no charge. Counsel to the Debtor: Erlene Krigel, Esq. Krigel Nugent + Moore, PC 4520 Main St., Ste. 700 Kansas City, MO 64111 Telephone: (816) 756-5800 About Concrete Truth Title Concrete Truth Title, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 25-40479) on April 3, 2025, listing $100,001 to $500,000 in both assets and liabilities. Judge Cynthia A Norton presides over the case. Erlene W. Krigel, Esq. at Krigel Nugent Moore, P.C. represents the Debtor as counsel. CONTAINER STORE: Struggles with Debt ------------------------------------ Kevin Kingsbury of Bloomberg Law reports that the Container Store continues to face financial headwinds, including inventory and pricing challenges, despite ongoing restructuring efforts. The retailer has enlisted Berkeley Research Group and other advisers to tackle these issues. It is also reviewing its real estate portfolio with assistance from A&G Real Estate Partners and law firm Paul Hastings, the report states. The Troubled Company Reporter reported on March 13, 2025, citing Alex Wittenberg of Law360 Bankruptcy Authority that on Tuesday, March 11, 2025, a Texas bankruptcy judge announced that he would issue a written opinion on whether the U.S. Trustee's Office can halt The Container Store's Chapter 11 plan to appeal a ruling that a creditor's failure to opt out of the plan's third-party releases amounts to consent to those releases. About The Container Store Group Inc. The Container Store Group, Inc. operates specialty retail stores. The Company offers storage, organizational products and solutions. Container Store Group serves customers in the United States. COSTELLO SR.-ALLEN: Unsecured Creditors to Split $79K in Plan ------------------------------------------------------------- Costello Sr.-Allen Optometrists PLLC filed with the U.S. Bankruptcy Court for the Northern District of New York a Plan of Reorganization for Small Business dated July 30, 2025. The Debtor is a professional limited liability company. Since 2008, the Debtor has been in the business of providing optometry services. The Debtor's current financial difficulties stem from a consistent shortfall of revenue relative to operating expenses. In an attempt to address this imbalance, the Debtor entered into multiple financing arrangements with various Merchant Cash Advance (MCA) companies over the past several years. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $9,835.75. The final Plan payment is expected to be paid on November 1, 2030. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately .05 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 5 consists of Non-priority unsecured creditors. Unsecured creditors will receive a total of $79,371.70 which will be distributed pro rata to all allowed unsecured claims. Debtor will pay a total of $1,322.86 per month to be distributed to unsecured creditors pro rata. It is anticipated that this will yield approximately .05 cents on the dollar of all unsecured allowed claims. This Class is impaired. Class 6 consists of Equity security holders of the Debtor. Equity interest holders shall receive 100% of the shareholder interests in the reorganized Debtor. The Plan will be implemented by the Debtor remitting payment to creditors from the Debtor's cash flow derived from income as indicated in the projections. Upon Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures, and equipment, will revert free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=eM7A87 from PacerMonitor.com at no charge. Counsel to the Debtor: Peter A. Orville, Esq. Orville & McDonald Law, P.C. 30 Riverside Drive Binghamton, NY 13905 Tel: (607) 770-1007 Fax: (607) 770-1110 About Costello Sr.-Allen Optometrists Costello Sr.-Allen Optometrists, PLLC, doing business as Allen Eye Associates, is an optometry practice based in Oneida, N.Y. The clinic provides comprehensive eye care services including routine eye exams, contact lens fittings, dry eye therapy, and disease management. Costello Sr.-Allen Optometrists sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-60379) on May 1, 2025. In its petition, the Debtor reported total assets of $583,120 and total liabilities of $2,622,871. Judge Patrick G. Radel oversees the case. The Debtor tapped Peter A. Orville, Esq., at Orville & McDonald Law, P.C. and Gregory F. Wilt CPA, PC as tax and payroll accountant. CTF CHICAGO: Court Extends Cash Collateral Access to Aug. 31 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division extended CTF Chicago, Inc.'s authority to use cash collateral from August 1 to August 31. The 11th interim order authorized the Debtor to use the cash collateral of Wintrust Bank, a pre-bankruptcy secured lender, to pay the expenses set forth in its budget. The budget shows projected expenses of $128,336 for the interim period. Wintrust Bank holds a senior lien on the Debtor's assets valued at $781,571.93, with a subordinate lien by the U.S. Small Business Administration. As protection, Wintrust Bank was granted a replacement lien on substantially all of the Debtor's assets, including cash collateral equivalents, cash and accounts receivable, to the same extent and with the same validity as its pre-bankruptcy lien. In addition, Wintrust Bank was granted an administrative expense claim under Section 507(b) of the Bankruptcy Code, subordinate only to the administrative claim of the Subchapter V trustee. The next hearing is scheduled for August 27. Wintrust Bank has a senior valid blanket lien on assets of the Debtor as of the petition date and the cash proceeds thereof. It holds a senior security interest in all the assets of the Debtor by way of a valid lien duly filed of which the amount due and owing totals no less than $781,571.93. About CTF Chicago CTF Chicago, Inc. operates within a framework that requires substantial capital and resources. The company is structured to provide specific services or products, likely in a competitive market, given its presence in Chicago. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-15580) with up to $50,000 in assets and up to $10 million in liabilities. Charles Graff, managing member, signed the petition. Judge Janet S. Baer oversees the case. The Debtor is represented by Richard G. Larsen, Esq., at Springer Larsen, LLC. Wintrust Bank, as lender, is represented by: Andrew H. Eres, Esq. Dickinson Wright PLLC 55 W. Monroe, Suite 1200 Chicago, IL 60603 Tel: 312-377-7891 aeres@dickinson-wright.com CUBCOATS ACQUISITION: M. Douglas Flahaut Named Subchapter V Trustee ------------------------------------------------------------------- The U.S. Trustee for Region 16 appointed M. Douglas Flahaut as Subchapter V trustee for Cubcoats Acquisition Vehicle LLC. Mr. Flahaut will be paid an hourly fee of $680 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Flahaut declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: M. Douglas Flahaut ArentFox Schiff LLP | Attorneys at Law Gas Company Tower 555 West Fifth Street, 48th Floor Los Angeles, California 90013 Telephone: (213) 443-7559 Facsimile: (213) 629-7401 Email: douglas.flahaut@afslaw.com About Cubcoats Acquisition Vehicle Cubcoats Acquisition Vehicle, LLC is a special-purpose entity formed to acquire assets related to the "Cubcoats" children's brand, including intellectual property and character rights. The company executed an asset purchase agreement with Peak Theory, Inc. in 2023 through a bankruptcy court-supervised sale in the District of Utah. Cubcoats Acquisition Vehicle filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-16684) on August 1, 2025, with up to $50,000 in assets and $1 million to $10 million in liabilities. Frankie Ordoubadi, manager, signed the petition. Giovanni Orantes, Esq., at The Orantes Law Firm, A.P.C. represents the Debtor as bankruptcy counsel. CUBCOATS ACQUISITION: Seeks Subchapter V Bankruptcy in California ----------------------------------------------------------------- On August 1, 2025, Cubcoats Acquisition Vehicle LLC filed Chapter 11 protection in 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 Cubcoats Acquisition Vehicle LLC Cubcoats Acquisition Vehicle LLC is a special-purpose entity formed to acquire assets related to the "Cubcoats" children's brand, including intellectual property and character rights. The Company executed an asset purchase agreement with Peak Theory, Inc. in 2023 through a bankruptcy court-supervised sale in the District of Utah. Cubcoats Acquisition Vehicle LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal.Case No. 25-16684) on August 1, 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 Giovanni Orantes, Esq. at THE ORANTES LAW FIRM, A.P.C. CYPRESSWOOD SPRING: Gets Extension to Access Cash Collateral ------------------------------------------------------------ Cypresswood Spring Memory Care, LLC received third interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral to pay its operating expenses. The order penned by Judge Mark Mullin authorized the Debtor's interim use of cash collateral in accordance with its monthly budget, with a 15% variance. PSF I Cypresswood, LLC, a secured lender, asserts pre-bankruptcy liens on substantially all of the Debtor's assets, including cash and accounts. As adequate protection for any diminution in the value of its pre-bankruptcy collateral, PSF will be granted a post-petition claim secured by valid, binding, enforceable and perfected senior liens on the Debtor's property excluding Chapter 5 causes of action. This claim will have priority over all other costs and expenses. As further protection, the Debtor was ordered to keep the secured lender's collateral fully insured. The Debtor's authority to use cash collateral terminates upon dismissal or conversion of its Chapter 11 case; the appointment of a trustee or examiner; cessation of operations; non-compliance with or default by the Debtor of the terms of the order; the granting of claim or lien to another creditor that is equal or superior in priority; or the lifting of the automatic stay to allow any creditor to proceed against any asset of the Debtor valued at $75,000 or more. The next hearing is set for September 8. About Cypresswood Spring Memory Care Cypresswood Spring Memory Care, LLC, doing business as Autumn Leaves of Cypresswood, operates a 54-bed, purpose-built community in Spring, Texas that provides specialized residential care for people with Alzheimer's disease and other dementias. The facility is part of family-owned Autumn Leaves Memory Care, which runs similar communities in Texas and Illinois. Cypresswood sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41420) on April 23, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Judge Edward L. Morris handles the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC is the Debtor's legal counsel. PSF I Cypresswood, LLC, as secured lender, is represented by: Kevin M. Lippman, Esq. Munsch Hardt Kopf & Harr, P.C. 500 N. Akard Street, Suite 4000 Dallas, TX 75201-6659 Telephone: (214) 855-7565 Facsimile: (214) 978-5335 klippman@munsch.com DESKTOP METAL: U.S. Trustee Appoints Creditors' Committee --------------------------------------------------------- The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Desktop Metal, Inc. and its affiliates. The committee members are: 1. U.S. Bank Trust Company, National Association as Trustee for the 6.0% Convertible Senior Notes due 2027 Vilka Markovic (Vice President) 1 Federal Street Boston, MA 02110 (617) 603-6603 vilka.markovic@usbank.com Counsel for Member: Shipman & Goodwin LLP Anthony Scarcella Kathleen LaManna One Constitution Plaza Hartford, CT 06103-1919 (860) 251-5603 klamanna@goodwin.com ascarcella@goodwin.com 2. Consilio, LLC Michael Flanagan, General Counsel 1828 L. Street NW, Suite 1070 Washington, DC 20036 (202) 559-3812 Michael.flanagan@consilio.com 3. Henry Schein Inc. Kim Persky, East Coast Sr. Credit Manager 135 Duryea Road Melville, NY 11747-3834 (631) 843-5500 Kim.Persky@henryschein.com sharedservicesbankruptcies@henryschein.com 4. OMNI Control Technology, Inc. Peter J. Bedigian, President/CEO P.O. Box 444 1 Main Street Whitinsville, MA 01588 (508) 234-9121 pbedigian@omnicontroltech.com Counsel for Member: John R. Silva Allen Falke Mirick O’Connell DeMallie & Lougee, LLP 100 Front Street, Suite 1900 Worcester, MA 01608 (508) 791-8500 jsilva@miricklaw.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 Desktop Metal Inc. Desktop Metal designs and markets 3D printing systems. ExOne's business primarily consisted of manufacturing and selling 3D printing machines and printing products to specification for its customers for both direct and indirect applications. ExOne offered its pre-production collaboration and print products for customers through its network of ExOne Adoption Centers and supplied the associated materials, including consumables and replacements parts, and other services, including training and technical support, necessary for purchasers of its 3D printing machines to print products. Desktop Metal sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90268) on July 28, 2025, listing up to $50,000 in assets and liabilities. Judge Christopher M. Lopez presides over the case. Benjamin Lawrence Wallen at Pachulski Stang Ziehl & Jones, LLP serves as the Debtor's legal counsel. DISTRICT 7 GRILL: Section 341(a) Meeting of Creditors on Sept. 9 ---------------------------------------------------------------- On August 5, 2025, District 7 Grill Corporation filed Chapter 11 protection in the Southern District of Texas. According to court filing, the Debtor reports between $100,000 and $500,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on September 9, 2025 at 10:00 AM, US Trustee Houston Teleconference. About District 7 Grill Corporation District 7 Grill Corporation owns and operates four restaurants in Houston, Texas, including: two District 7 restaurants located at 501 Pierce St., Houston, Texas 77002 and 1508 Hutchins Street, Houston, Texas 77003; one District 7 Restaurant & Market restaurant located at 610 Main St., Houston, Texas 77002; and one Table 7 Bistro restaurant located at 1085 Rusk St., Ste. C, Houston, TX 77002. The District 7 and Table 7 Bistro restaurants offer an upgraded take on America-style cuisine -- from classic eggs benedict and savory short rib burgers, to artisan pizzeria pizza, fresh mahi mahi salad, and file mignon. The District 7 Restaurant and Market location features a specialty market, deli and convenient grab-and-go options, including rotisserie chicken, deli sandwiches, and Polish dogs. District 7 Grill Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-34547) on August 5, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Brandon J. Tittle, Esq. at TITTLE LAW FIRM, PLLC. DOUBLESHOT HOLDINGS: Gets OK to Use Cash Collateral Until Sept. 11 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division issued an interim order allowing Doubleshot Holdings, LLC to use cash collateral through September 11. The interim order authorized the Debtor to use cash collateral to pay ordinary business expenses as outlined in its monthly budget. As adequate protection to ServisFirst Bank, the Debtor was authorized to make monthly payments of $4,000 on the loan it obtained from the bank. ServisFirst Bank must credit the Debtor's funds that it is holding to each of the loan payments until those funds are exhausted. In addition, the Debtor was authorized to make interest-only monthly payments on the business credit card account as further protection. All secured creditors will be granted perfected post-petition liens on the cash collateral with the same priority, validity and extent as their pre-bankruptcy liens. The interim order remains in effect until the conversion or dismissal of the Debtor's bankruptcy case, appointment of a trustee, confirmation of the Debtor's Chapter 11 plan, or further court order. A continued hearing is scheduled for September 11. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/rAGEQ from PacerMonitor.com. About Doubleshot Holdings Doubleshot Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04915) on July 18, 2025, listing up to $100,000 in assets and up to $1 million in liabilities. Mark Krajcir, managing member of Doubleshot Holdings, signed the petition. Judge Roberta A. Colton oversees the case. Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace, represents the Debtor as legal counsel. Servis First Bank, as lender, is represented by: Lara Roeske Fernandez, Esq. Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, P.A. ' 101 East Kennedy Boulevard, Suite 2700 Tampa, FL 33602 Tel: (813) 223-7474 Fax: (813) 229-6553 LFernandez@trenam.com DVAC HEATING: Gets Final OK to Use Cash Collateral -------------------------------------------------- DVAC Heating & Air, LLC received final approval from the U.S. Bankruptcy Court for the Western District of Washington to use cash collateral. The final order granted the Debtor authority to use cash collateral to pay its operating expenses for the period from July 29 to September 30 or until it is terminated upon conversion or dismissal of its Chapter 11 case; the appointment of a trustee, examiner or any other similar entity with expanded powers; the confirmation of the Debtor's Chapter 11 plan; or the entry of a court order that stays, modifies, or reverses the final order. Payment of the operating expenses must be in accordance with the Debtor's budget, which shows total expenses of $143,550 for August and $141,950 for September. As adequate protection for the Debtor's use of its cash collateral, the U.S. Small Business Administration will receive replacement liens on post-petition cash, receivables, inventory, and the proceeds thereof, with the same validity, priority and extent as its pre-bankruptcy liens. In addition, SBA will continue to receive monthly payments of $600 until the Debtor's bankruptcy plan is confirmed. Other secured creditors including Kapitus, LLC, CT Corporation, NewCo Capital Group VI, Avion Funding, Pearl Delta Funding, IRS, and Forward Financing will be granted replacement liens. Meanwhile, the Debtor was authorized to continue to remit $500 per month to the trust account of Attorney Virginia Burdette for administrative fees until plan confirmation. About DVAC Heating & Air LLC DVAC Heating & Air LLC is a family-owned company that provides residential, light commercial, and new construction HVAC and plumbing services in the greater Seattle area. Based in Mukilteo, Washington, the Company offers installations, repairs, and maintenance for systems such as furnaces, AC, heat pumps, water heaters, and ductless units. Founded in 2014, DVAC emphasizes competitive pricing, customer service, and skilled technicians. DVAC Heating & Air sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-11432) on May 27, 2025. In its petition, the Debtor reported total assets of $350,315 and total liabilities of $3,224,167. Judge Timothy W. Dore handles the case. The Debtor is represented by: Thomas D Neeleman Neeleman Law Group PC Tel: 425-212-4800 Email: courtmail@neelemanlaw.com ELENAROSE CAPITAL: Coal Asset Sale to Bulk Acquisition OK'd ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana, Evansville Division, has permitted ElenaRose Capital LLC and its affiliates, Elmer Buchta Trucking LLC (EBT), Transport Acquisitions LLC (Transport), Buchta Leasing, LLC (Buchta Leasing), and WBF, LLC (WBF), to sell Assets by private sale, free and clear of liens, claims, interests, and encumbrances. The Debtors are engaged in coal transportation as a fundamental part of Debtors' businesses and since the purchase of Transport by ElenaRose, the price of coal has significantly increased, resulting in customers reducing their use of coal. The decreased revenue from customers' reduction in coal use caused cash flow issues which led to the filing of the voluntary petitions by Debtors. The Court has authorized the Debtors to sell the Assets to Bulk Acquisitions, LLC and/or its assigns outside the ordinary course of business for $7,557,275.00. All Assets identified in the Asset Purchase Agreement (APA) is available at: https://tinyurl.com/mwe9ejcr The Debtors, and their members, managers, affiliates, officers, employees, and agents, are authorized to executive, deliver and perform under, and otherwise consummate and implement, the APA together with all additional instruments and documents that may be reasonably necessary to desirable to implement the APA. All net proceeds of the Sale shall be paid to Peapack Capital Corporation for permanent application against the indebtedness owing to Peapack. About ElenaRose Capital LLC ElenaRose Capital LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 23-70665-AKM-11) on Sept. 8, 2023. In the petition signed by Louis Capolino, president/manager, the Debtor disclosed up to $50,000 in assets and up to $10 million. Judge Andrea K. McCord oversees the case. Weston E. Overturf, Esq., at Kroger, Gardis & Regas, LLP, is the Debtor as legal counsel. EMBER DRIVE CV2021: Seeks Chapter 11 Bankruptcy in New York ----------------------------------------------------------- On August 4, 2025, Ember Drive CV2021 Pledgor LLC filed Chapter 11 protection in 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 Ember Drive CV2021 Pledgor LLC Ember Drive CV2021 Pledgor LLC is a real estate entity whose primary asset is the property located at 3000 Ember Drive, Decatur, Georgia. Ember Drive CV2021 Pledgor LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72990) on August 4, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Alan S. Trust handles the case. The Debtor is represented byHeath S. Berger, Esq. at BFSNG LAW GROUP, LLP. ENI DIST: Seeks Chapter 11 Bankruptcy in Maryland ------------------------------------------------- On August 6, 2025, ENI DIST Inc. filed Chapter 11 protection in the District of Maryland. 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 ENI DIST Inc. ENI DIST Inc. imports and distributes Asian food products from South Korea and Southeast Asia. The Company supplies dry, refrigerated, and frozen goods to wholesale distributors, chain retailers, foodservice distributors, and independent supermarkets. It operates a warehouse for handling various product types and offers both local and container drop shipment services across the United States. ENI DIST Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-17220) on August 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. The Debtor is represented by Weon G. Kim, Esq. at WEON G KIM LAW OFFICE. ETROG PROPERTIES: Taps FIA Capital Parters as Restructuring Advisor ------------------------------------------------------------------- Etrog Properties LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ FIA Capital Partners LLC as restructuring advisor. The firm will provide David Goldwasser as chief restructuring officer (CRO) and certain additional personnel to the Debtors. The CRO and additional personnel will render these services: (a) assist with administering the Debtors' Chapter 11 cases; (b) oversee the preparation of all Chapter 11 reporting, including monthly operating reports and budgets; (c) pursue negotiations with the lender and its representative with respect to cash collateral and the sales of the properties; and (d) assist with formulation of a consensual plan of reorganization in bankruptcy. The firm's standard hourly rates are as follows: Paralegal $330 Managing Director $450 Chief Financial Officer (CFO) $500 Certified Public Accountant (CPA) $500 Attorney $600 David Goldwasser $800 In addition, the firm will seek reimbursement for expenses incurred. The Debtor als agreed to pay the CRO a non-refundable up-front fee of $25,000. David Goldwasser, a principal at FIA Capital 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: David Goldwasser FIA Capital Partners LLC 295 Front Street, 2nd Floor Brooklyn, NY 11201 Email: dgoldwasser@fiacp.com About Etrog Properties LLC Etrog Properties LLC is a single asset real estate company that owns property located at 938 Intervale Avenue in the Bronx, New York. Etrog Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43396) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor tapped Kevin J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP as counsel and FIA Capital Partners LLC as restructuring advisor. ETROG PROPERTIES: Taps Goldberg Weprin Finkel Goldstein as Counsel ------------------------------------------------------------------ Etrog Properties LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Goldberg Weprin Finkel Goldstein LLP as counsel. The firm will render these services: (a) provide the Debtors with all necessary representation in connection with these Chapter 11 cases, as well as their responsibilities; (b) represent the Debtors in all proceedings before the U.S. Bankruptcy Court and the Office of the U.S. Trustee; (c) review, prepare and file all necessary legal papers as required in these Chapter 11 cases; and (d) provide all other legal services required with respect to achieving confirmation of a consensual plan of reorganization in bankruptcy. The firm's hourly rates are as follows: Partners $685 Associates $275 - $525 Kevin Nash, Esq., a partner at Goldberg Weprin Finkel Goldstein, 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: Kevin J. Nash, Esq. Goldberg Weprin Finkel Goldstein LLP 125 Park Ave., Floor 12 New York, NY 10017 Telephone: (212) 221-5700 Email: knash@gwfglaw.com About Etrog Properties LLC Etrog Properties LLC is a single asset real estate company that owns property located at 938 Intervale Avenue in the Bronx, New York. Etrog Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43396) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor tapped Kevin J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP as counsel and FIA Capital Partners LLC as restructuring advisor. EVENTIDE CREDIT: Creditors Want Trustee to Oversee Chapter 11 Case ------------------------------------------------------------------ Vince Sullivan of Law360 Bankruptcy Authority reports that the official committee of unsecured creditors in Eventide Credit Acquisitions' Chapter 11 case has urged a Texas judge to appoint a trustee, alleging the debtor and its principal have repeatedly violated bankruptcy rules since the case began in 2023. About Eventide Credit Acquisitions, LLC Eventide Credit Acquisitions, LLC, a Dallas-based company, filed voluntary Chapter 11 petition (Bankr. N.D. Tex. Lead Case No. 23-90007) on Sept. 6, 2023. On October 9, 3023, its affiliate, BWH Texas LLC, filed its voluntary petition for relief under Subchapter V of Chapter 11 of the Bankruptcy Code. In the petition signed by Matt Martorello, manager, Eventide Credit disclosed up to $100 million in both assets and liabilities. Judge Mark X. Mullin oversees the cases. The Debtors tapped Forshey Prostok as bankruptcy counsel and Donlin, Recano & Company, Inc. as notice, claims and balloting agent. EVERSTREAM SOLUTIONS: Secures Court OK for $385MM Chapter 11 Sale ----------------------------------------------------------------- Rihem Akkouche of USA Herald reports that a Texas bankruptcy judge has approved Everstream's $384.6 million Chapter 11 sale, clearing the way for the Ohio-based, business-only fiber internet provider to exit bankruptcy under new ownership. Metro Everstream Bidco LLC was named as the backup bidder with a $366 million offer. On Friday, August 1, 2025, U.S. Bankruptcy Judge Christopher M. Lopez signed off on the going-concern sale to Bluebird Fiber, which outbid the initial stalking-horse offer by nearly $100 million during a July 2025 auction. "It's always a good thing to hear that the auction was successful," Judge Lopez said in approving the deal. Everstream filed for Chapter 11 in May 2025 with more than $1 billion in liabilities, citing intense competition, rising operating costs, and lower-than-expected revenues. The company's original agreement with Bluebird was valued at $285 million before the bidding war drove the final price higher, according to USA Herald. Operating a fiber-optic network across 13 Midwestern and Northeastern states, Everstream serves business customers with dedicated internet connections. Attorney Andriana Georgallas of Weil Gotshal & Manges LLP, representing the company, told the court a Chapter 11 reorganization plan would be filed soon, with an emphasis on preserving jobs as part of the restructuring, the report states. About Everstream Networks Everstream Networks LLC is a business-focused provider of data, internet, and communications services, operating a fiber network spanning over 34,000 miles across 13 states in the U.S. Midwest and Northeast. Headquartered in Cleveland, Ohio, the Company offers enterprise-grade solutions such as dedicated internet access, dark fiber, Ethernet, and network security. Founded in 2014 as a subsidiary of nonprofit OneCommunity, Everstream has expanded through a mix of organic growth and acquisitions. Everstream Networks LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90144) on May 28, 2025. In its petition, the Debtor reports estimated assets (on a consolidated basis) between $500 million and $1 billion and estimated liabilities (on a consolidated basis) between $1 billion and $10 billion. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Gabriel A. Morgan, Esq., Clifford W. Carlson, Esq., Matthew S. Barr, Esq., Andriana Georgallas, Esq., and Alexander P. Cohen, Esq. at WEIL, GOTSHAL & MANGES LLP. The Debtors' Special Counsel is RICHARDS, LAYTON & FINGER, P.A. BANK STREET GROUP LLC is the Debtors' M&A Advisor. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Financial Advisor. STRETTO, INC. is the Debtors' Claims, Noticing & Solicitation Agent. EYM CAFE: Seeks Chapter 11 Bankruptcy in Texas ---------------------------------------------- On August 1, 2025, EYM Cafe of Texas LLC filed Chapter 11 protection in the Eastern District of Texas. According to court filing, the Debtor reports between $10 million and $50 million on debt owed to 100 and 199 creditors. The petition states funds will be available to unsecured creditors. About EYM Cafe of Texas LLC EYM Cafe of Texas LLC, doing business as Panera Bread, operated a group of Panera Bread franchise locations in Texas. The Company was part of EYM Group, a multi-brand restaurant franchisee based in Irving, Texas. EYM Cafe of Texas LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Tex. Case No. 25-42271) on August 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 Brenda T. Rhoades handles the case. The Debtor is represented by Howard Marc Spector, Esq. at SPECTOR & COX, PLLC. FAIR OFFER: To Sell Vina Property to Benjiman & Kimberley Moredock ------------------------------------------------------------------ Fair Offer Cash Now, Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee, to sell Property, free and clear from liens, claims, interests, and encumbrances. The Debtor's real property includes the real property at 225 Duren Ball Road, Vina, AL 35593, and the Debtor has a fee simple 100% ownership interest in the Property. On or about March 4, 2025, the Debtor entered in the First Purchase and Sale Agreement for the sale of the Property to Daniel Jones in the amount of $125,000.00, which was approved by the Court by entry of an Agreed Order between Justin Cutler and the Debtor on April 24, 2025. However, the sale did not close. On or about July 2, 2025, the Debtor entered in the Second Purchase and Sale Agreement for the sale of the Property to Benjiman Moredock and Kimberley Moredock. The PSA provides for a closing to occur on the sale of the Property on or before August 15, 2025, which was later extended through a separate addendum to August 22, 2025. The purchase and sale agreement is with Benjiman Moredock and Kimberley Moredock and is in the amount of $129,300.00. The contemplated transaction is an arms-length transaction, and the Buyer is not an insider of the Debtor. The purchase price is the result of extensive negotiations and is the highest and best offer that the Debtor has received. The Debtor and the Buyers have agreed to the terms contained in the PSA, with certain key provisions as follows: a. Purchase Price: $129,300 (Purchase Price). b. Earnest Money: $250.00 c. Closing Date: On or before August 22, 2025. d. Commission: The Seller’s agent’s commission shall not exceed 6% of the purchase price, which includes the Buyers' real estate agent will be paid a sales commission of 2.5% of the purchase price. There will also be standard closing costs. f. Contingency: This Agreement is contingent upon Bankruptcy Court Approval. The matter needs to be heard on an expedited basis to expedite the closing and minimize the risk of losing the potential buyer. Accordingly, the Debtor requests that the Motion be heard on an expedited basis at the next available docket. About Fair Offer Cash Now, Inc. Fair Offer Cash Now owns 27 properties all located in Alabama, Kentucky, Missouri, Tennessee, Georgia and Mississippi having a total current value of $4.94 million. Fair Offer Cash Now, Inc. in Murfreesboro, TN, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. M.D. Tenn. Case No. 24-03495) on Sept. 11, 2024, listing $4,942,400 in assets and $4,783,400 in liabilities. Bradley Smotherman as president, signed the petition. Judge Charles M Walker oversees the case. LEFKOVITZ & LEFKOVITZ serves as the Debtor's legal counsel. FALCON CONLEY CV20 LLC: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------------------- On August 1, 2025, Falcon Conley CV20 LLC filed Chapter 11 protection in the Eastern District of New York. According to court filing, the Debtor reports $31,049,400 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Falcon Conley CV20 LLC Falcon Conley CV20 LLC is a single-asset real estate entity that owns property located at 950 Conley Road SE in Atlanta, Georgia. Falcon Conley CV20 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72987) on August 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities of $31,049,400. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor is represented by Heath S. Berger, Esq. at BFSNG LAW GROUP, LLP. FELTRIM BALMORAL: Seeks Approval to Tap Angela Welch as Accountant ------------------------------------------------------------------ Feltrim Balmoral Estates, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Midddle District of Florida to employ Angela Welch, a certified public accountant practicing in Yorktown Heights, New York. The accountant will assist with the preparation of the Debtors' monthly operating reports, cash collateral budgets, projections, and other accounting services as requested in connection with these bankruptcy cases. The accountant will be paid at her hourly rate of $285 plus reimbursement for expenses incurred. Ms. Welch disclosed in a court filing that she is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Angela Welch, CPA Yorktown Heights, NY 10598 About Feltrim Balmoral Estates Feltrim Balmoral Estates, LLC owns a clubhouse located at 124 Kenny Blvd., Haines City, Fla., having a fair value of $3 million. Feltrim Balmoral Estates and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-02122) on April 17, 2024. The case is jointly administered in Case No. 24-02122. In the petitions signed by Garrett Kenny, owner and manager, Feltrim Balmoral Estates disclosed $4,657,697 in assets and $16,239,519 in liabilities; The Enclave At Balmoral, LLC disclosed $5,091,844 in assets and $10,565,256 in liabilities; and Balmoral Estates, LP listed $14,327,306 in assets and $25,909,466 in liabilities. Judge Catherine Peek McEwen oversees the cases. The Debtors tapped Alberto F. Gomez, Jr., Esq., at Johnson Pope Bokor Ruppel & Burns, LLP as counsel and Angela Welch, CPA, as accountant. FIBRE-TECH INC: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division issued a final order authorizing Fibre-Tech, Inc. to use cash collateral. The final order authorized the Debtor to use cash collateral, which consists of cash, deposit accounts, accounts receivable and proceeds from operations, in line with its budget, with a 10% variance allowed. The budget projects total monthly operational expenses of $45,629.73. Secured lenders, including Whitaker Oil Company and the U.S. Small Business Administration will be granted a replacement lien on collateral in which they held a security interest and lien as of the petition date, with the same validity, priority and extent that they held as of the petition date. In addition, the Debtor was ordered to keep the collateral insured as further protection to the lenders. The Debtor's cash collateral consists of cash in the amount of $25,286.60, which is comprised of cash on hand and cash on deposit at Hancock Whitney Bank; accounts receivable in the amount of $47,742.32; and revenues, according to the Debtor's cash collateral motion filed on April 9. On average, the Debtor generates approximately $87,732 in gross receipts per month. SBA asserts a debt in connection with a loan in the amount of $137,713.83. Meanwhile, Whitaker Oil Company asserts a debt in the amount of $3,452.72. Whitaker asserts a security interest in all assets of the Debtor in connection with the purchase of styrene monomer. Fibre-Tech Inc. Fibre-Tech, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02205) on April 9, 2025, with $500,001 to $1 million in assets and $1,000,001 to $10 million in liabilities. Judge Roberta A. Colton presides over the case. Alberto F. Gomez, Jr., Esq. at Johnson Pope Bokor Ruppel & Burns, LLP represents the Debtor as legal counsel. FIRST CLASS: Gets Extension to Access Cash Collateral ----------------------------------------------------- First Class Moving Systems, Inc. and its affiliates received fifth interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. The fifth interim order signed by Judge Roberta Colton extended the Debtors' authority to access cash collateral pending a further hearing on August 21. The Debtors intend to use the cash collateral to pay the amounts expressly authorized by the court; the expenses set forth in their budget, plus an amount not to exceed 10% for each line item; and additional amounts subject to approval by lenders. As of the petition date, the Debtors' cash collateral was comprised of cash ($165,000), accounts receivable ($2,100,000), and inventory ($20,000) in the aggregate amount of $2,285,000. As adequate protection, each creditor with a security interest in the cash collateral will have a perfected post-petition lien on the cash collateral, with the same validity, priority and extent as their pre-bankruptcy lien. As further protection, the Debtors were ordered to keep the collateral insured. The lenders are the U.S. Small Business Administration, De Lage Landen Financial Services, Inc., and Valley National Bank. These lenders were granted perfected post-petition lien on the cash collateral under the interim orders. The SBA asserts a blanket lien on certain assets of First Class while De Lage asserts blanket liens on the cash collateral of Capital Asset Finance, Inc. Meanwhile, Valley National Bank asserts blanket liens on the assets of First Class and the cash collateral of Capital Asset Finance, First Class Moving of South Florida and FC Equipment Leasing, Inc. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/KRg37 from PacerMonitor.com. About First Class Moving Systems Inc. First Class Moving Systems Inc. is a professional moving company offering residential and commercial moving services, as well as packing, logistics, and storage solutions. It has locations in Tampa, Miami/Fort Lauderdale; Gulfport, Miss.; Orlando, Fla.; and Bound Brook, N.J. First Class Moving Systems and its affiliates filed Chapter 11 petitions (Bankr. M.D. Fla. Lead Case No. 25-02243) on April 11, 2025. In its petition, First Class Moving Systems reported between $1 million and $10 million in both assets and liabilities. Judge Roberta A. Colton handles the cases. The Debtors are represented by Scott A. Stichter, Esq., and Amy Denton Mayer, Esq., at Stichter, Riedel, Blain & Postler, P.A. Valley National Bank, as lender, is represented by: Andrew W. Lennox, Esq. Casey Reeder Lennox, Esq. Lennox Law, P.A. P.O. Box 20505 Tampa, FL 33622 Tel: 813-831-3800 Fax: 813-749-9456 alennox@lennoxlaw.com clennox@lennoxlaw.com FLAGSHIP RESORT: Gets Court Okay for Chapter 11 Sale ---------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that Flagship Resort Development Corp., a timeshare seller along the Atlantic City Boardwalk, won approval from a New Jersey bankruptcy judge on Friday, August 8, 2025, to sell its assets and solicit votes on a Chapter 11 liquidation plan following a settlement with unsecured creditors. About Flagship Resort Development Corporation Flagship Resort Development Corporation, a privately held hospitality and resort development company based in New Jersey, specializes in timeshare vacation ownership in the Atlantic City region. It operates 774 living units across three properties -- Flagship All-Suites Resort, Atlantic Palace, and La Sammana Resort -- offering a mix of deeded timeshare interests, club memberships, and exchange-based travel benefits. The company is a wholly owned subsidiary of FantaSea Resorts Group, Inc. Flagship Resort Development Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-15047) on May 10, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million. Honorable Bankruptcy Judge Jerrold N. Poslusny Jr. handles the case. The Debtors are represented by Warren J. Martin Jr., Esq. at PORZIO, BROMBERG & NEWMAN, P.C. The Debtor's Notice, Claims, Solicitation, Balloting & Administrative Agent is KROLL RESTRUCTURING ADMINISTRATION LLC. FLOATUS INC: Gets Final Approval to Use Cash Collateral ------------------------------------------------------- Floatus, Inc. received final approval from the U.S. Bankruptcy Court for the District of Maryland to use the cash collateral of CDC Small Business Finance to pay its expenses. The final order authorized the Debtor to use CDC's cash collateral in accordance with its budget, subject to a 20% variance per line item and a 10% global variance based on changes to actual amounts billed by various vendors. The Debtor's budget projects total operational expenses of $26,422. As adequate protection for any diminution in the value of its cash collateral, CDC will be granted replacement liens on all post-petition assets and proceeds thereof, with the same priority as its pre-bankruptcy lien. If the Debtor fails to make a scheduled monthly payment, CDC may serve the Debtor a notice of default. The default must be cured within seven days of service of the notice or the Debtor's authority to use cash collateral will immediately terminate. About Floatus Inc. Floatus, Inc., operates a float therapy spa in Laurel, Md. Floatus filed Chapter 11 bankruptcy petition (Bankr. D. Md. Case No. 25-12007) on March 9, 2025, listing up to $500,000 in both assets and liabilities. Felix Nelson, company owner, signed the petition. Michael P. Coyle, Esq., at The Coyle Law Group, represents the Debtor as bankruptcy counsel. CDC Small Business Finance, as lender, is represented by: Eric S. Schuster, Esq. Funk & Bolton, P.A. 100 Light Street, Suite 1400 Baltimore, MD 21202 Tel: 410.659.4983 Fax: 410.659.7773 eschuster@fblaw.com FRISCO BAKING: Gets Interim OK to Modify Cash Collateral Budget --------------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California, Los Angeles Division issued an interim order authorizing the modification of Frisco Baking Company, Inc.'s budget on the use of cash collateral. The Debtor's amended cash collateral budget varies from its original budget as follows: (i) Subject to the court's approval of an application to employ Armanino Advisory, LLC to market and sell the Debtor's business operation, the Debtor intends to pay the firm an advisory fee of $15,000 (the agreement will also include a "recovery fee" based on the sale price of the Debtor's business). The $15,000 fee is indicated in the amended budget under the category "Professional Fee Carveout" at the week commencing August 17. The advisory fee was negotiated by the Debtor and would only be paid upon approval of the employment by the court. (ii) The Debtor's "Buy Outs" business (where the Debtor purchases hot dog buns and re-sells them to customers at a profit margin) unexpectedly and significantly increased due to a customer's needs for the months of June and July (to the benefit of the estate and its creditors). The Debtor amended the budget to reflect these unexpected purchases. (iii) The amended budget also accounts variances between what the Debtor projected at that outset of its Chapter 11 case and what turned out to be actual expenses. A final hearing is scheduled for August 19. About Frisco Baking Company Established in 1941, Frisco Baking Company, Inc. specializes in San Francisco-style sourdough bread and a variety of baked goods such as French and Italian rolls, baguettes, and specialty loaves. The company offers wholesale services to restaurants and delis across Los Angeles and Orange counties while maintaining retail operations at its Los Angeles bakery. Frisco Baking Company filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 25-11395) on February 24, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Damon M. Perata, chief executive officer of Frisco Baking Company, signed the petition. Judge Neil W. Bason oversees the case. Jeffrey S. Shinbrot, Esq., at The Shinbrot Firm is the Debtor's bankruptcy counsel. Leaf Capital Funding, LLC, as lender, is represented by: Jennifer Witherell Crastz, Esq. Hemar, Rousso & Heald, LLP 15910 Ventura Blvd., 12th Floor Encino, CA 91436 Telephone: (818) 501-3800 Facsimile: (818) 501-2985 Email: jcrastz@hrhlaw.com FWAK LLC: Voluntary Chapter 11 Case Summary ------------------------------------------- Debtor: FWAK LLC d/b/a Chrimar Apartments 7850 E. Green Lake Dr. N. Seattle WA 98103 Business Description: FWAK LLC, doing business as Chrimar Apartments, is a single-asset real estate entity that owns and leases residential property. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court Eastern District of Washington Case No.: 25-01396 Debtor's Counsel: Phillip J. Haberthur, Esq. LANDERHOLM, P.S. 805 Broadway Street, Suite 1000 Vancouver WA 98660 Tel: (360) 696-3312 E-mail: philh@landerholm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Anne Marie Kreidler as managing member. 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/WDP5ALY/FWAK_LLC__waebke-25-01396__0001.0.pdf?mcid=tGE4TAMA GENESIS HEALTHCARE: Seeks to Hire Ordinary Course Professionals --------------------------------------------------------------- Genesis Healthcare, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to retain non-bankruptcy professionals in the ordinary course of business. The Debtors need ordinary course professionals to perform services for matters unrelated to these Chapter 11 cases. The Debtors seek to pay OCPs 100 percent of the fees and expenses incurred. The Debtors do not believe that any of the OCPs have an interest materially adverse to them, their estates, creditors, or other parties in interest in connection with the matter upon which they are to be engaged. The OCPs include: Tier I OCPs Deloitte Tax LLP P.O. Box 844736 Dallas, TX 75284 -- Sales Tax Filings and Sales Tax Refund Claims Grant Thornton LLP P.O. Box 71192 Chicago, IL 60694 -- State and Local Tax Advisory Services Klasko Immigration Law Partners, LLP 2000 Market St., Suite 1050, Philadelphia, PA 19103 -- Immigration Counsel Stotler Hayes Group, LLC 297 Willbrook Blvd Pawleys Island, SC 29585 -- Regulatory, Transactional, and Guardianship Counsel Williams Mullen Clark & Dobbins P.C. 200 South 10th Street, Suite 1600 P.O. Box 1320 Attn: Ned Turnbull Richmond, VA 23219 -- Regulatory, ERISA, and Transactional Counsel Tier 2 OCPs Buchanan Ingersoll & Rooney PC 501 Grant Street, Suite 200, Pittsburgh, PA 15219 -- Regulatory and Transactional Counsel and PL/GL Gordon & Rees LLP 315 Pacific Avenue San Francisco, CA 94111 -- Transactional, Guardianship, Commercial, Employment, and PL/GL Counsel Jarrard, Inc. 219 Ward Circle Brentwood, TN 37027 -- Communications / PR Services Littler Mendelson P.C. 101 Second Street, Suite 1000 San Francisco, CA 94105 -- Employment Counsel Morgan Lewis & Bockius LLP 2222 Market Street Philadelphia, PA 19103 -- Regulatory and Transactional Counsel Saxton & Stump LLC 280 Granite Run Drive, Suite 300, Lancaster, PA 17601 -- Guardianship Counsel Winston & Strawn LLP 35 West Wacker Drive Chicago, IL 60601 -- Deferred Payroll Taxes Counsel Tier 3 OCPs Anderson Kill 7 Times Square, Fifteenth Floor New York, NY 10036 -- Transactional Counsel Bradley Arant Boult Cummings LLP One Federal Place 1819 5th Avenue North Birmingham, AL 35203 -- Regulatory Counsel Carolina Advocacy Group LLC 101 W Saint John Street, Suite 16 Spartanburg, SC 29306 -- Guardianship Counsel Casey & Chapman 1140 Chapline Street Wheeling, WV 26003 -- Defense Counsel PL/GL CBIZ P.O. Box 95000-2288 Philadelphia, PA 19195 -- U.S. Federal & State Income Tax Services Cherry Petersen Landry Albert LLP 8350 North Central Expressway, Suite 1500 Dallas, TX 75206 -- Transactional Counsel Coleman & Sons Appraisal Group P.O. Box 550092 Waltham, MA 02455 -- Real Estate / Personal Property Appraisals: MA Constangy, Brooks, Smith & Prophete, LLP P.O. Box 102476 Atlanta, GA 30368 -- Labor Counsel Cozen O’Connor PC One Liberty Place 1650 Market Street, Suite 2800 Philadelphia, PA 19103 -- Transactional and Commercial Counsel Davis Malm & D’Agostine P.C. One Boston Place 37th Floor Boston, MA 02108 -- Real Estate / Personal Property and Appeals: MA, RI, CT Dechert LLP 2929 Arch Street Philadelphia, PA 19104 -- Transactional and Commercial Counsel Dietrich Law Firm 610 Sentry Parkway Suite 200 Blue Bell, PA 19422 -- Guardianship Counsel Dorsi & Dorsi 537 Washington Ave. West Haven, CT 06516 -- Real Estate / Personal Property Appraisals: CT Flaherty, Sensabaugh & Bonasso PLLC 200 Capitol Street P.O. Box 3843 Charleston, WV 25338 Specific West Virginia -- Regulatory Counsel Fultz Maddox Dickens PLC 2700 National City Tower 101 South Fifth Street Louisville, KY 40202 -- Transactional, Commercial, and Employment Counsel Genova Burns LLC 494 Broad Street, 6th Floor Newark, NJ 07102 -- Labor Counsel Global Tax Management 656 E Swedesford Road, Suite 200 Wayne, PA 19087 -- Tax Provision Personal Property and Use Tax Services Goldsmith & Grout 126 Atlantic Ave Indialantic, FL 32903 -- Transactional Matters Gregory Richters P.O. Box 717 Folly Beach, SC 29439 -- Labor Counsel Harris Beach Murtha Cullina PLLC 99 Garnsey Road Pittsford, NY 14534 -- Regulatory and Transactional Counsel Hiring Incentives, Inc. 9210 Corporate Blvd, Ste. 330 Rockville, MD 20850 -- U.S. Federal and State Tax Credit Tax Professional Holloway & Sullivan, LLC 7 St. Paul Street, Suite 625, Baltimore, MD 21202 -- Guardianship Counsel Hooper, Lundy & Bookman 1875 Century Park East, Suite 1600 Los Angeles, CA 90067 -- Regulatory / Corporate Counsel Jackson Lewis LLP 1133 Westchester Avenue, Suite S125 West Harrison, NY 10604 -- Employment Counsel Law Offices of Robert M. McCarthy 4405 East West Highway, Suite 201 Bethesda, MD 20814 -- Guardianship Counsel Lowenstein Sandler LLP One Lowenstein Drive Roseland, NJ 07068 -- Regulatory Counsel McNees Wallace & Nurick LLC P.O. Box 1166 Harrisburg, PA 17108 -- Sales Tax Filings and Sales Tax Refund Claims Ogletree Deakins LLP Attn: J. Michael McGuire 1 South St., Suite 1800 Baltimore, MD 21202 -- Union Negotiations Property Valuation Services 12890 Foster St., Ste 370 Overland Park, KS 66213 -- Real Estate / Personal Property and Appeals: FL, VA, WV, AL, GA Quatro Tax LLC 3909 Hulen Street, Ste 100 Fort Worth, TX 76107 -- Real Estate / Personal Property and Appeals: CA, CO, NM, WA, OH, TX Richards, Layton & Finger, P.A. One Rodney Square, 920 North King Street, Wilmington, DE 19801 -- Corporate and Commercial Counsel Ryan LLC 13155 Noel Road, Ste 100 Dallas, TX 75240 -- Sales Tax Filings and Sales Tax Refund Claims Seegel Lipshutz & Lo 80 William Street, Suite 200 Wellesley, MA 02481 -- Guardianship and Commercial Counsel Senior Care Valuation LLC 4 Willow Lane Old Greenwich, CT 06870 -- Real Estate / Personal Property Appraisals: CT, NH, RI Skoloff & Wolfe PC 293 Eisenhower Pkwy Livington, NJ 07039 -- Real Estate / Personal Property and Appeals: NJ SOHO Legal Services Ltd. 1035 Mumma Road, Suite 302 Lemoyne, PA 17043 -- Guardianship Counsel T Scott Basik PA Foxleigh Building Lutherville, MD 21093 -- Real Estate / Personal Property and Appeals: MD The Albano Group LLC 48 Constitution Dr. Bedford, NH 03110 -- Real Estate / Personal Property and Appeals: NH, VT, ME The Webb Law Firm 420 Fort Duquesne Blvd., Suite 1200 Pittsburgh, PA 15222 -- Corporate Counsel Unidas Case Management, Inc. 3301 Cadelaria Road NE, Unit D Albuquerque, NM 87107 -- Guardianship Counsel Zipp & Tannenbaum LLC 280 Raritan Center Parkway Edison, NJ 08837 -- Real Estate / Personal Property and Appeals: PA 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. GIBSON INC: S&P Downgrades ICR to 'B-', Outlook Negative -------------------------------------------------------- S&P Global Ratings lowered its rating on Gibson Inc. to 'B-' from 'B'. Concurrently, S&P lowered the issue-level rating on the company's $300 million first-lien term loan maturing in August 2028 to 'B-' from 'B'. The recovery rating on the term loan is '4', indicating its expectation of average recovery (30%-50%; rounded estimate: 45%) recovery in the event of a payment default. The negative outlook reflects increased uncertainty around Gibson's operating performance over the next 12 months due to weaker demand and higher costs of goods, which could cause EBITDA and cash flow to decline by more than S&P expects. The downgrade reflects S&P's expectation for weaker performance in fiscal 2026. Gibson's revenue in its first fiscal quarter of 2026 (ended June 30, 2025) declined 11.5% (volumes declined 12%, modestly offset by a 0.5% increase in pricing) leading to S&P Global Ratings-adjusted EBITDA of $6.6 million--a 64% decline compared to S&P Global Ratings-adjusted EBITDA of $18.3 million in the first quarter of fiscal 2025. This increased S&P Global Ratings-adjusted leverage to 6.4x for the last 12 months ended June 30 from 5.3x at year end. Notably, this was the company's lowest revenue quarter since prior to 2021. Additionally, the company generated an FOCF deficit of $8 million in the quarter; it has not generated a quarterly FOCF deficit since fiscal 2023. The weak performance stemmed from a temporary halt in imports from China (Epiphone, Kramer and Steinberger guitars, and KRK amplifiers) because of the rising tariffs on China imports during the period; tariff rates reached 145% before dropping to 30% in mid-May. As a result, the company paused a portion of imports from China since it could not generate a profit at high tariff levels. The company opted not to raise prices on the products it did import, recognizing its more budget-conscious customer base would pull back on spending as Epiphone guitars (about 25% of its global net revenue) retail for between $100 and $1,500 per unit. Additionally, Gibson branded guitars (which are premium guitars manufactured in the U.S.) contributed to the decline as its customers, especially smaller dealers, reduced order volumes amid a weakening macroeconomic environment with greater uncertainty and lower discretionary spending. However, the company disclosed its order book for the July period was comparable to last year's order book, signaling potential volume improvement in the second quarter. Gibson's tariff mitigation strategies are less effective than initially anticipated and price promotions will likely increase, which will lead to greater gross margin contraction over the next 12 months compared to our prior expectations. S&P said, "We initially expected the company to utilize duty drawbacks to offset at least 50% of the incremental tariff cost on imported guitars from China, since about 15% of the company's total cost of goods sold are finished goods from China. However, due to ongoing trade negotiations with the U.S. and Chinese governments, the company is only able to offset about 33% of the incremental tariff cost. We now expect gross profit margin will contract about 500 basis points (bps) in fiscal 2026, with about 170 bps of the contraction related to additional costs from tariffs on China imports. Our base case assumes tariffs on China imports into the U.S. remains around 30%." S&P said, "Further, we anticipate Gibson to offer more discounts across premium and low-end guitars over the remainder of the year to compete with Fender Musical Instruments Corp. and the used guitar market (which we think represents around 40% of the total guitar market). This will lead to further gross margin contraction on mix shift to lower-margin products. Notably, Gibson has a greater focus on premium guitars than Fender, which could cause Fender to gain share across the mid- and lower price point guitars as consumers seek value. "We expect quarterly EBITDA to improve over the remainder of the year following first-quarter one-off headwinds, although risks remain due to uncertain trade policy and consumer spending. Anticipated tariffs drove customers to pull forward inventory to the fourth quarter of 2025 (ending March 31) from the first quarter of fiscal 2026, exacerbating first-quarter revenue declines. Epiphone sales also faced tough year-over-year comparisons, having benefited from new product launches the year prior. Additionally, first-quarter sales were more severely impacted by tariff rate volatility as the company paused a larger percentage of imports from China, resulting in lower Epiphone, Kramer, Steinberger, and KRK sales. We expect revenue declines to improve through the remainder of the year since we believe tariff volatility has somewhat settled; we expect paused imports will be limited to entry-level guitars priced below $750. Additionally, the first quarter is also seasonally weaker, lacking uplift from holiday sales. The first quarter also saw higher selling, general, and administrative (SG&A) costs due to one-time retention bonus payouts. There is potential for another one-time retention payout to plan participants in the first quarter of fiscal 2027. "The company anticipates revenue growth in the second half of the year due to Gibson and other brand volume growth, which is expected to offset the $7 million in lost sales from lower China imports over the subsequent three quarters in fiscal 2026. However, we anticipate mid-single-digit percent revenue declines for the remainder of the year, with Gibson brand volumes continuing to decline. The company states demand from its largest retail customers is stable; however, we believe the majority of its revenue comes from smaller dealers with less financial flexibility. We expect these dealers will remain cautious on increasing inventory levels due to a weaker macroeconomic backdrop with lower discretionary spending on big-ticket items like guitars. That said, we believe the company's core customers tend to be professional musicians, collectors, and long-time guitarists, given that it is the leader in premium-priced guitars. Therefore, these consumers may not be as financially stretched as general consumers. Notably, the company has seen an uptick in e-commerce orders, although this may only be because its customers have reduced in-store volumes. "We expect modestly better performance in the third quarter (ending Dec. 31, 2025) supported by holiday sales, but we forecast steeper declines in the fourth quarter due to a tough comparable period from last year's inventory pull-forward ahead of tariff increases. Nonetheless, it is possible that revenues will decline more than we forecast if tariff negotiations do not alleviate the ongoing uncertainty, or if economic conditions worsen more severely than we expect. "We anticipate Gibson will maintain adequate liquidity over the next 12 months. The company ended the first quartet with about $36 million of cash and an undrawn asset-based lending (ABL) facility. Gibson has $58 million of availability under the ABL facility, considering its borrowing base and outstanding letters of credit, which will provide total liquidity of $94 million over the next 12 months. However, we believe about $10 million of cash is inaccessible as it is tied up in international subsidiaries. Moreover, we expect the company will continue to generate positive FOCF in fiscal 2026 and thereafter because it will sustain lower capital and operating spending to preserve cash flow. "The company expects to increase letters of credit due to the tariff increase, which will reduce borrowing capacity under Gibson's ABL facility. Still, we anticipate capacity will remain around $58 million at a minimum each quarter, assuming the ABL remains undrawn. Ultimately though, FOCF may be weaker than expected, potentially due to weaker profitability or greater working capital outflows, which could lower total available liquidity. "The negative outlook reflects increased uncertainty around Gibson's operating performance over the next 12 months due to weaker volumes and higher cost of goods sold, which could cause EBITDA and cash flow to decline by more than we expect. "We could lower the rating over the next 12 months if Gibson's capital structure becomes unsustainable, including if EBITDA interest coverage falls below 1.5x and FOCF is break-even or negative." This could occur if: -- Volumes decline more than expected due to reduced order volumes from customers or increased competition from discounted brands or used guitars; -- Gibson is unable to effectively offset the incremental costs through its tariff-mitigation strategies, contracting gross margin further; -- Gibson fails to sufficiently reduce operating expenses to offset declining gross profit; or -- Working capital outflows are larger than expected, potentially due to excess inventory buildup. S&P could revise the outlook to stable if the company sustains EBITDA interest coverage of at least 1.5x while generating positive FOCF. This could occur if: -- The company can offset higher costs from tariffs through mitigation efforts; and -- The demand for guitars improves due to an improving macroeconomic environment. GILLETTE ENTERPRISES: Gets Extension to Access Cash Collateral -------------------------------------------------------------- Gillette Enterprises, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral until September 23 in accordance with its budget, with a 10% weekly cumulative variance allowed. The Debtor projects total operational expenses of $285,766 for the period from July to November. The Debtor's cash collateral includes, without limitation, cash, deposit accounts, accounts receivable, and proceeds from business operations. As adequate protection for the use of their cash collateral, lenders including Regions Bank and the U.S. Small Business Administration were granted a replacement lien on assets similar to their pre-bankruptcy collateral, with the same extent, validity and priority as their pre-bankruptcy lien. In addition, Regions Bank will receive a monthly payment of $3,990.00, starting this month. The next hearing is set for September 23. About Gillette Enterprises Gillette Enterprises LLC operates a metaphysical retail store in Sarasota, Florida, offering books, crystals, and specialty gifts and has been in business since 1992. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 8:25-bk-03803-CPM) on June 6, 2025. In the petition signed by Anthony Gillette, managing director, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Catherine Peek McEwen oversees the case. Alberto F. Gomez, Jr., Esq., at Johnson, Pope, Bokor, Ruppel & Burns, LLP, is the Debtor's legal counsel. Regions Bank, as secured creditor, is represented by: Dana L. Robbins-Boehner, Esq. Burr & Forman, LLP 201 North Franklin Street Suite 3200 Tampa, FL 33602 drobbins-boehner@burr.com mguerra@burr.com GLOBAL PREMIER: Unsecureds Will Get 100% of Claims in Plan ---------------------------------------------------------- Global Premier Regency Palms Oxnard, LP filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement in support of First Amended Plan of Reorganization dated July 30, 2025. The Debtor was formed in 2014 to purchase land and develop and operate an assisted living/memory care facility in Oxnard, California. GPA #3 is the general partner of, and has complete decision making control over, the Debtor. Pursuant to the Court's Dismissal Order, Christine Hanna has full authority to manage and operate GPA #3, and thus, manage and operate the Debtor. The Debtor was initially funded with $12 million of investment from foreign investors, who invested in the Debtor pursuant to a program of the United States government to allow foreign investors to make investments in the United States in order to obtain residency status. The Debtor owns the Property, as well as a 100% equity interest in Regency Palms, which owns and operates an assisted living facility on the Property. Regency Palms provides housing and a full spectrum of care and services to fragile seniors in need of a moderate level of medical assistance, including specialized memory care for seniors who suffer from Alzheimer's Disease and other forms of dementia. According to the County Assessor's office, the Property has a value of eight million, three hundred seventeen thousand, seven hundred and nineteen dollars. Based on the Debtor's recent experience in trying to secure capital for the Debtor’s facility and similar facilities owned by affiliates of the Debtor, the Debtor does not believe that the Property could be sold for an amount that would exceed the amount owing on the PACE Loan. Since the commencement of the Case, the Debtor has not generated/received any income because its tenant (Regency Palms) has not paid rent based on the terms of its lease with the Debtor. In particular, pursuant to the terms of the lease, the tenant is required to pay rent in an amount equal to the Debtor's debt service obligation. The Debtor has prepared Projections, which includes cash flow projections for the Property, along with assumptions on which such projections are based. The Debtor projects that the net cash flow from the operations generated from the Property, financing proceeds and, if necessary, net sales proceeds, will be sufficient to pay all Allowed Claims in accordance with the treatment of such Allowed Claims. The Plan provides that General Unsecured Creditors will receive 100% on account of their Allowed General Unsecured Claim from income generated from the business operations over five years and/or the refinancing or sale of the Assets. Class 6.1 consists of any Allowed General Unsecured Claim other than those held by a Related Party. Except to the extent that a member of this Class agrees to a less favorable treatment, each member of this Class shall receive its Pro Rata share of the Class 6.1 Plan Fund based on each member's Allowed Class 6.1 General Unsecured Claim relative to all Allowed Class 6.1 General Unsecured Claims and the Allowed Claim of the member of Class 6.1. Payment shall be made within later of (i) the first Business Day of the first full month following the Effective Date, or (ii) the tenth Business Day after such Claim becomes an Allowed Claim. Class 6.1 is impaired by this Plan. Class 6.2 consists of any Allowed General Unsecured Claim held by a Related Party. Except to the extent that a member of this Class agrees to a less favorable treatment, each member of this Class shall receive its Pro Rata share of the Class 6.2 Plan Fund based on each member's Allowed Class 6.2 General Unsecured Claim relative to all Allowed Class 6.2 General Unsecured Claims and the Allowed Claim of the member of Class 6.2. Payment shall be made within later of (i) the first Business Day of the first full month following the Effective Date, or (ii) the tenth Business Day after such Claim becomes an Allowed Claim. Class 6.2 is impaired by this Plan. The Reorganized Debtor shall make all payments due under the Plan to holders of Allowed Claims and Allowed Interests from one or more of the following: (a) Exit Financing of not less than $8,000,000, which shall consist of new equity financing and such additional debt and/or equity financing necessary to effectuate the Plan; (c) any proceeds from the prosecution and/or settlement of Causes of Action, including Avoidance Actions; and/or (d) proceeds from the sale or financing of the Reorganized Debtor's business or real property. A full-text copy of the Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=BbJyAe from PacerMonitor.com at no charge. Counsel to the Debtor: Garrick A. Hollander, Esq. Winthrop Golubow Hollander, LLP 1301 Dove Street, Suite 500 Newport Beach, CA 92660 Telephone: (949) 720-4100 Facsimile: (949) 720-4111 Email: ghollander@wghlawyers.com About Global Premier Regency Palms Oxnard, LP Global Premier Regency Palms Oxnard LP owns and operates Regency Palms Oxnard, an assisted living and memory care facility located at 1020 Bismark Lane in Oxnard, California. The facility offers a range of services, including assistance for independent residents and specialized memory care programs developed through extensive research and experience. Global Premier Regency Palms Oxnard LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10614) on March 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. The Debtor is represented by Garrick A. Hollander, Esq., at WINTHROP GOLUBOW HOLLANDER, LLP. GRANT PARK: Section 341(a) Meeting of Creditors on September 11 --------------------------------------------------------------- On August 5, 2025, Grant Park Packing Company Inc. filed Chapter 11 protection in 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. A meeting of creditors under Section 341(a) to be held on September 11, 2025 at 01:30 PM at Appear by Teams. About Grant Park Packing Company Inc. Grant Park Packing Company Inc. operates one of Chicago's last fully functioning pork packing plants in the heart of Fulton Street Market, processing thousands of whole hogs daily. The federally inspected facility distributes fresh pork, beef, lamb, goat, poultry and processed meats at wholesale prices to restaurants, retailers and individual customers throughout the Chicago area and beyond. Grant Park Packing Company Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-11968) on August 5, 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 Jacqueline P. Cox handles the case. The Debtor is represented by David R. Herzog, Esq, at Law Offices Of David R Herzog. GREATER LIFE: John Rhyne Named Subchapter V Trustee --------------------------------------------------- Brian Behr, the U.S. Bankruptcy Administrator for the Eastern District of North Carolina, appointed John Rhyne as Subchapter V trustee for Greater Life Church. Mr. Rhyne will be paid an hourly fee of $375 for his services as Subchapter V trustee. Mr. Rhyne disclosed in an affidavit that he does not have an interest materially adverse to the interest of Fuel Homestead's estate, creditors or equity security holders. The Subchapter V trustee can be reached at: John G. Rhyne P.O. Box 8327 Wilson, NC 27893 (252) 234-9933 About Greater Life Church Greater Life Church filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02972) on August 4, 2025, with $1,000,001 to $10 million in assets and liabilities. Judge David M. Warren presides over the case. Joseph Zachary Frost, Esq., at Buckmiller & Frost, PLLC represents the Debtor as legal counsel. GREATER LIFE: Section 341(a) Meeting of Creditors on September 15 ----------------------------------------------------------------- On August 4, 2025, Greater Life Church filed Chapter 11 protection in the Eastern District of North Carolina. 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. A meeting of creditors under Section 341(a) to be held on September 15, 2025 at 10:00 AM at Zoom 341 Meeting Raleigh. About Greater Life Church Greater Life Church operates as a Christian congregation located in Winston-Salem, North Carolina. It provides worship services and religious programs at 5095 Lansing Drive. Greater Life Church sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02972 on August 4, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge David M. Warren handles the case. The Debtor is represented by Joseph Z. Frost, Esq. at BUCKMILLER & FROST, PLLC. GREATER LIGHT: Case Summary & Five Unsecured Creditors ------------------------------------------------------ Debtor: Greater Light Baptist Church of Sacramento d/b/a The Light Christian Church d/b/a Greater Light Church d/b/a Greater Light Baptist Church 7257 E. Southgate Drive Sacramento, CA 95823 Case No.: 25-24136 Business Description: Greater Light Baptist Church of Sacramento dba The Light Christian Church (TLCC) is a Sacramento-based ministry focused on practical, spirit-filled teaching of the Word of God. Led by Pastor O.J. Swanigan, TLCC aims to help individuals discover and walk in their purpose to strengthen the Body of Christ. Worship services are joyful yet reverent, emphasizing God's presence and praise as a lifestyle. Chapter 11 Petition Date: August 6, 2025 Court: United States Bankruptcy Court Eastern District of California Judge: Hon. Christopher D Jaime 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 Email: michael.berger@bankruptcypower.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Pastor O.J. Swajigan as president/pastor. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LMGHRSY/Greater_Light_Baptist_Church_of__caebke-25-24136__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Five Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Employment Development Dept Taxes $2,687 Bankruptcy Group, MIC 92E PO Box 826806 Sacramento, CA 94206-0001 2. Everest Business Funding Merchant $22,267 102 W 38th Street Cash Advance 6th Floor New York, NY 10018 3. Internal Revenue Service Unpaid Taxes $26,450 P.O. Box 7346 Philadelphia, PA 19101-7346 4. Law Offices of Gabriel Legal Fees $45,599 Liberman, APC 1545 River Park Dr. Ste. 530 Sacramento, CA 95815 5. Liquidibee, LLC Unsecured Loan $23,398 295 Madison Ave. 22nd Floor New York, NY 10017 HARDING BELL: Gets Interim OK to Use Cash Collateral Until Sept. 30 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division granted Harding Bell International, Inc. interim authority to use cash collateral of Cogent Bank and SouthState Bank. The interim order authorized the Debtor to use cash collateral through September 30 as per its budget, with a 10% variance allowed. The budget projects total operational expenses of $2,609,415 for the period from July to December. As adequate protection, Cogent and SouthState will be granted a replacement lien on assets acquired by the Debtor after its Chapter 11 filing similar to their pre-bankruptcy collateral. The replacement lien will have the same validity, priority and extent as the secured creditors' pre-bankruptcy lien. In addition, SouthState Bank and Cogent Bank will receive monthly payments of $14,367 and $35,131, respectively, starting this month and until further order or confirmation of the Debtor's Chapter 11 plan. The secured creditors may assert administrative claims under Section 507(b) if liens do not fully protect against diminution in collateral value. The next hearing is scheduled for September 30. About Harding Bell International Inc. Harding Bell International, Inc. is a certified public accounting firm based in Central Florida that provides tax preparation, business support, and FIRPTA services to U.S. and international clients. The firm serves over 9,000 clients across 22 U.S. states and more than 170 countries, with a focus on real estate investment and cross-border tax matters. Founded in 2000, it operates six offices in the region. Harding Bell International sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04912) on July 17, 2025. In its petition, the Debtor reported total assets of $3,826,150 and total liabilities of $6,221,386. Judge Roberta A. Colton handles the case. Aaron A. Wernick, Esq., at Wernick Law, PLLC is the Debtor's legal counsel. SouthState Bank, as secured creditor, is represented by: Christian P. George, Esq. Akerman LLP 50 North Laura Street, Suite 3100 Jacksonville, FL 32202 Phone: (904) 798-3700 Fax: (904) 798-3730 christian.george@akerman.com Cogent Bank, as secured creditor, is represented by: Bradley M. Saxton, Esq. Winderweedle, Haines, Ward & Woodman, P.A. 329 North Park Avenue, 2nd Floor P.O. Box 880 Winter Park, FL 32790-0880 Phone: (407) 423-4246 Fax: (407) 645-3728 Bsaxton@whww.com HARP AND CLOVER: Seeks Approval to Tap Jason D. Gray as Accountant ------------------------------------------------------------------ Harp and Clover, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to employ Jason Gray, CPA, PC as accountant. The firm will assist the Debtor in the preparation of tax returns and any related accounting matters. The firm will be billed at $2,500 each for the 2023 and 2024 returns, and a lesser rate for any other unknown matters which may include preparation of payroll tax returns. Jason Gray, CPA, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jason D. Gray, CPA Jason D. Gray, CPA, PC 340 South 2nd Street Gadsden, AL 35901 Telephone: (256) 546-4479 About Harp and Clover Harp and Clover, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-40308) on March 6, 2025, listing up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Judge James J. Robinson oversees the case. The Debtor tapped Tameria S. Driskill, Esq., at Tameria S. Driskill, LLC as counsel and Jason Gray, CPA, PC as accountant. HEAVENLY HOGS: Seeks to Hire Tom Bible Law as Bankruptcy Counsel ---------------------------------------------------------------- Heavenly Hogs Tours, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire the Law Office of W. Thomas Bible, Jr. d/b/a Tom Bible Law as counsel. The firm will render these services: a. advise the applicants as to their rights, duties, and powers as debtors-in-possession; b. investigate and if necessary, institute legal action on behalf of the Debtor to collect and recover assets of the estate of the Debtor; c. prepare and file the statements, schedules, plans, and other documents and pleadings necessary to be filed by the applicants in this case; d. assist and counsel the Debtor in the preparation, presentation and confirmation of their disclosure statement and plan of reorganization; e. represent the Debtor at all hearings, meetings of creditors, conferences, trials, and other proceedings in this case; and f. perform such other legal services as may be necessary in connection with this case. The firm will be paid at these rates: Attorneys $375 per hour Paralegals $125 per hour The firm has already drawn down a total of $3,863 against the $11,738 retainer for the filing fee in the amount of $1,738, and prepetition fees related work completed in the amount of $2,125. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. W. Thomas Bible, Jr., Esq., a partner at Tom Bible Law, 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: W. Thomas Bible, Jr., Esq. Tom Bible Law 6918 Shallowford Road, Suite 100 Chattanooga, TN 37421 Tel: (423) 424-3116 Fax: (423) 553-0639 Email: tom@tombiblelaw.com About Heavenly Hogs Tours Heavenly Hogs Tours, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-11901) on July 25, 2025, with $100,001 to $500,000 in assets and liabilities. Judge Nicholas W. Whittenburg presides over the case. W. Thomas Bible, Jr., Esq., at the Law Office of W. Thomas Bible, Jr. represents the Debtor as bankruptcy counsel. HL PIT STOP: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: HL Pit Stop, LLC 620 Dutch Lake Dr Howard Lake, MN 55349 Case No.: 25-42571 Business Description: HL Pit Stop LLC operates a convenience- based retail business that combines a gas station with food, beverages, and general merchandise. The Company offers drive-thru meals, deli items, specialty coffee, snacks, and convenience store staples, catering to customers seeking quick service and variety along commuter routes or travel stops. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court District of Minnesota Judge: Hon. Katherine A Constantine Debtor's Counsel: Mary Sieling, Esq. SIELING LAW, PLLC 12800 Whitewater Dr 100, # 3201 Minnetonka MN 55343 Tel: (612) 325-1191 Email: mary@sielinglaw.com Total Assets: $105,860 Total Liabilities: $2,819,521 The petition was signed by David Rollins as authorized representative of the Debtor. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XEEOY6Q/HL_Pit_Stop_LLC__mnbke-25-42571__0001.0.pdf?mcid=tGE4TAMA HPC VINEBURN: Case Summary & Five Unsecured Creditors ----------------------------------------------------- Debtor: HPC Vineburn, LLC 18321 Ventura Blvd., Suite 980 Tarzana CA 91356 Business Description: HPC Vineburn, LLC is a single asset real estate entity as defined under 11 U.S.C. Section 101(51B), with its principal assets located at 1919 Vineburn Avenue in Los Angeles, California. The Company's operations focus primarily on managing and holding this real estate asset. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-11455 Judge: Hon. Martin R. Barash Debtor's Counsel: Michael B. Reynolds, Esq. SNELL & WILMER L.L.P. 600 Anton Blvd., Suite 1400 Costa Mesa CA 92626 Tel: 714-427-7000 E-mail: mreynolds@swlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jeffrey Seltzer in his role as managing member of Highpoint Vineburn, LLC, which serves as the managing member of HPC Vineburn, LLC. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MSVI6VQ/HPC_Vineburn_LLC__cacbke-25-11455__0001.0.pdf?mcid=tGE4TAMA HRHI WIND-DOWN: To Sell Employee Retention Credits -------------------------------------------------- HRHI Wind-Down LLC and its affiliates seek permission from the U.S. Bankruptcy Court for the District of Delaware, to sell employee retention credits (ERC), free and clear from liens, claims, interests, and encumbrances. Founded in 1992 in Phoenix, AZ, the Debtors are a manufacturer and national supplier of high-quality paper products. The Debtors began as a family-owned business that operated a single converting line, supplying napkins and bath tissues to local retailers in Phoenix, Arizona. Since 1992, the Debtors have continuously evolved their production capacity to produce additional products in a broad range of configurations to a growing customer base. Over the years, the Debtors have installed state-of-the-art equipment, including high-speed converting lines and robots, to strengthen their production capabilities. Today, the Debtors provide a full range of paper products -- paper towels, bath tissues, facial tissues and napkins -- across the value spectrum (from premium to value products), tailored to meet the specifications and standards of their customers. The Debtors' principal business is manufacturing private label products for their large retail customers -- including, Aldi, Whole Foods, Trader Joe's, Kroger, and Meijer. This is the "At-Home" market and comprises 70% of the Debtors' business. Customers utilize private label products to competitively position their brand against the premium brands for consumer purchase. Prior to the Petition Date, the Debtors retained Ryan LLC (Ryan) to provide tax analysis services, including to assist the Debtors in determining certain of the Debtors' eligibility to obtain ERCs from the federal government. The Debtors filed the chapter 11 cases to pursue a sale of all or substantially all of their assets with the goal of maximizing the recovery for their estates and creditors. Ryan assisted the Debtors and Novo Advisors, LLC with monetizing the ERCs through a sale. Ryan has intimate knowledge and valuable expertise with respect to the limited number of potential purchasers for the ERCs and as a result, was quickly able to provide Novo with the identity of several potential purchasers. Four parties executed NDAs which led to the Debtors receiving letters of interest from 1861 Acquisition and another bidder. Ultimately, the Debtors selected 1861 Acquisition as the winning bidder. 1861 Acquisition has agreed, subject to Court approval, to purchase a 100% participation interest in all of the ERCs of the Debtors in exchange for a purchase price of $6,116,962.23. The 1861 Acquisition Purchase Price is calculated as 85% of the Participation Amount. If the Debtors receive approval from the IRS of any portion of the ERCs prior to the Effective Date of the Sale, or if any portion of the ERCs is impaired, reduced, and/or disallowed by the IRS for any reason prior to the Effective Date of the Sale, the amount of approved or impaired ERCs would be deducted from the Participation Amount as they would not be sold. The Debtors also received a letter of intent from another bidder for the purchase of the ERCs for an amount less than the 1861 Acquisition Purchase Price. The Debtors believe, in an exercise of their business judgment, that approval of the Sale of the ERCs to Purchaser will monetize the ERCs and offer the greatest value to their creditors. Novo and Ryan solicited offers from various parties for the purchase of the ERCs. The market for entities willing to purchase the ERCs is limited, and the Debtors believe the RPA represents the highest value for the ERCs that is available. About HRHI Wind-Down LLC HRHI Wind-down, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10674) on April 8, 2025, with $100,000,001 to $500 million in assets and liabilities. Judge Thomas M. Horan presides over the case. Scott Jones, Esq. at Morris, Nichols, Arsht & Tunnell represents the Debtor as legal counsel. INDIAN CREEK: Seeks to Hire Kutner Brinen Dickey Riley as Counsel ----------------------------------------------------------------- Indian Creek Express LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Kutner Brinen Dickey Riley, PC as counsel. The firm will render these services: (a) provide the Debtor with legal advice with respect to its powers and duties; (b) aid the Debtor in the development of a plan of reorganization under Chapter 11; (c) file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the Debtor's property under Chapter 11; (d) take necessary actions to enjoin and stay until final decree herein continuation of pending proceedings and to enjoin and stay until final decree herein commencement of lien foreclosure proceedings and all matters; and (e) perform all other legal services for the Debtor which may be necessary herein. The firm will be paid at these hourly rates: Jeffrey Brinen, Attorney $540 Jenny Fujii, Attorney $440 Jonathan Dickey, Attorney $400 Keri Riley, Attorney $390 Paralegal $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $26,738 from the Debtor. Mr. Dickey 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: Jonathan M. Dickey, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: jmd@kutnerlaw.com About Indian Creek Express LLC Indian Creek Express LLC provides long-haul freight delivery and brokerage services from its base in Pierce, Colorado. Founded in 1998, the family-owned Company offers temperature-controlled shipments across the lower 48 states alongside local and regional transportation, warehousing and cross-docking, serving the Denver metro area, Northern Colorado and Southeast Wyoming. Indian Creek Express LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 25-14707) on July 28, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Joseph G. Rosania, Jr. handles the case. The Debtor is represented Kutner Brinen Dickey Riley, PC. INNOVATE CORP: S&P Upgrades ICR to 'CCC', Outlook Negative ---------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Innovate Corp. to 'CCC' from 'SD'. At the same time, S&P withdrew the rating on the prior senior secured notes due 2026. The negative outlook reflects S&P's expectation that it could lower its ratings over the next year if S&P expects Innovate to face liquidity constraints ahead of interest payments and debt maturities beginning the second half of 2026. Innovate Corp. recently completed a series of refinancing transactions, including the exchange of its 8.5% senior secured notes due February 2026 for 10.5% senior secured notes due 2027. The maturity extensions and the ability to pay interest-in-kind (until August 2026) provides near-term liquidity relief, but S&P continues to view Innovate's capital structure as unsustainable. The refinancing transactions provide near-term liquidity relief. Innovate's newly exchanged 10.5%, $360.3 million senior secured notes due 2027 will pay interest-in-kind (PIK) in August 2025 (already completed, in the form of the higher exchange consideration) and February 2026 and pay cash interest for the two payments in August 2026 and February 2027. Through the first half of 2026, the company will be paying cash interest on its revolving line of credit, remaining senior secured notes due 2026 & convertible senior notes due 2026 that were not exchanged and DBM Global (investee company) debt while interest on all other debt facilities will be paid in kind, which provides a temporary relief to the company's operations. S&P said, "However, we continue to view Innovate's capital structure as unsustainable and expect the company will largely depend on favorable business, financial, and economic conditions to meet its financial commitments in the near term. "We think Innovate will remain highly leveraged absent potential asset sales as a source for debt paydown. We estimate the company's loan-to-value ratio (based on book values) exceeded 200% as of June 30, 2025. Potential paths to lowering leverage include asset divestures and external capital raises, for example." The new senior secured notes due 2027 imposes restrictive covenants on Innovate, limiting its capacity to incur additional debt, establish liens, distribute dividends, and engage in specified transactions. It also mandates asset sales yielding a minimum of $150 million in net proceeds by Feb. 1, 2026. Noncompliance with these covenants would result in initiating a sale process for DBM Global. The company's capital structure post the refinancing transaction announced on Aug. 4, 2025 includes the following. Debt from the nonoperating corporate segment: -- $360.3 million 10.5% senior secured notes due February 2027; -- $20 million revolving line of credit due in September 2026; -- $43 million of Continental General Insurance Co. (CGIC) unsecured notes due in April 2027; and -- $53.5 million convertible senior notes due March 2027. Debt from the investee companies: -- $43.5 million of life science segment debt due in August 2026; -- $69.7 million of spectrum segment debt due in September 2026; and -- $115.2 million of DBM Global debt due May 2030. S&P said, "Innovate's portfolio only contains unlisted companies, which we view as an underlying weakness for an investment holding company. Currently, the majority of Innovate's portfolio value is its 91% controlling interest in DBM, which is the only portfolio company expected to make distributions to Innovate in the near term. Management has stated that it is exploring opportunities to monetize Innovate's life science business assets. However, we think the company's concentration in unlisted assets could limit its ability to monetize them to repay debt or generate additional liquidity on short notice. "The negative outlook reflects our expectation that we could lower our ratings over the next year if we expect Innovate to face liquidity constraints ahead of interest payments and debt maturities beginning the second half of 2026." S&P could lower the ratings over the next 12 months if: -- S&P believes Innovate has insufficient liquidity to sustain 12 months of operations; -- If there are delays or difficulties associated with the company's intention to execute assets sales generating at least $150 million in net proceeds by February 2026; or -- S&P expects the company to engage in any further debt restructurings. S&P could revise its outlook or raise its ratings on Innovate if its expect the company could maintain sufficient liquidity for its operations over the next 12 months and view the company's capital structure as sustainable. IWC OIL: Seeks to Hire Cennamo and Werner as Bankruptcy Counsel --------------------------------------------------------------- IWC Oil & Refinery, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire Law Office of Cennamo and Werner as counsel. The firm will provide these services: a. give the Debtor-in-Possession legal advice with respect to the Debtor's powers and duties in the continued operation of the business and the management of the funds and property of the Debtor-in-Possession; b. prepare on behalf of the Debtor-in-Possession, necessary pleadings and other documents; c. advise the Debtor-in-Possession and work with the Debtor's creditors in an effort to devise a Plan; and d. perform all other legal services for the Debtor-in-Possession which may be necessary under Chapter 11 case. The firm will be paid at these rates: Steven G. Cennamo $330 per hour David C. Werner $300 per hour Legal Assistant $60 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Steven G. Cennamo, Esq., a partner at Law Office of Cennamo and Werner, 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 G. Cennamo, Esq. Law Office of Cennamo and Werner 8546 Broadway, Suite 100 San Antonio, TX 78217 Tel: (210) 905-0529 Fax: (210) 905-4373 About IWC Oil & Refinery LLC IWC Oil & Refinery LLC is an energy supplier that trades, markets, and sells petroleum products. The Company operates a vertically integrated network that includes shipping, storage infrastructure, and transportation logistics such as marine, rail, and trucking services. It also provides product sourcing, supply, and consulting solutions. IWC Oil & Refinery sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51378) on June 23, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge Craig A. Gargotta handles the case. The Debtor is represented by Steven G. Cennamo, Esq., at the Law Office of Cennamo & Werner. J INTERNATIONAL: Case Summary & 17 Unsecured Creditors ------------------------------------------------------ Debtor: J International Management, LLC d/b/a Gabi 5808 Spring Mountain Rd., #104 Las Vegas, NV 89146 Business Description: J International Management, LLC, operating as Gabi Coffee, is a hospitality business based in Las Vegas, Nevada, that runs a specialty cafe and bakery at 5808 Spring Mountain Rd., Suite 104. The Company offers a blend of traditional oriental and modern Western-inspired beverages and baked goods, serving hot and iced drinks alongside freshly baked bread and various sweet and savory food items. It operates daily, providing local customers and visitors a unique cafe experience combining cultural aesthetics and fresh bakery products. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court District of Nevada Case No.: 25-14602 Judge: Hon. August B. Landis Debtor's Counsel: Matthew C. Zirzow, Esq. LARSON & ZIRZOW, LLC 850 E. Bonneville Ave. Las Vegas, NV 89101 Tel: 702-382-1170 Fax: 702-382-1169 E-mail: mzirzow@lzlawnv.com Total Assets: $128,543 Total Liabilities: $4,243,957 The petition was signed by Jang Hyun Kim as manager and member. A full-text copy of the petition, which includes a list of the Debtor's 17 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZENOZCA/J_INTERNATIONAL_MANAGEMENT_LLC__nvbke-25-14602__0001.0.pdf?mcid=tGE4TAMA J&D CUSTOMS: Seeks to Hire Joseph R. Seimer CPA as Accountant ------------------------------------------------------------- J&D Customs LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Joseph R. Seimer, CPA as accountant. The accountant will render these services: a. give the Debtor accounting advise and prepare tax returns; b. assist the Debtor in reducing its expenses and maximizing its revenue; c. assist the Debtor in preparation of operating reports; and d. assist the Debtor in analyzing and objecting to claims. The firm's hourly rates are: Partners $350 Accounting Staff $135 Staff $75 Joseph R. Seimer, CPA is a "disinterested person" as the term is defined in 11 U.S.C. Sec. 101(14). The accountant can be reached through: Joseph R. Seimer Joseph R Seimer CPA 2061 Deer Park Ave Deer Park, NY 11729 Phone: (631) 354-5165 About J&D Customs LLC J&D Customs LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-74605) on Dec. 4, 2024. Judge Robert E Grossman presides over the case. Marc A Pergament, Esq. at Weinberg, Gross, & Pergament, LLP represents the Debtor as counsel. J.D. SAC CONSULTING: Gets Final OK to Use Cash Collateral --------------------------------------------------------- J.D. SAC Consulting, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral. The final order authorized the Debtor to use cash collateral to fund operations from July 28 until entry of a court order modifying such authority or confirming a plan of reorganization, whichever occurs first. As adequate protection for the Debtor's use of their cash collateral, lenders will be granted a valid and properly perfected replacement lien on all property acquired by the Debtor after its Chapter 11 filing that is similar to their pre-bankruptcy collateral. The replacement liens do not apply to any Chapter 5 avoidance actions. The Debtor's cash collateral consists of revenue that is potentially subject to claims by Gulf Coast Bank and Trust Company, the Internal Revenue Service, and Revenued, LLC. Although Gulf Coast is believed to hold a first-priority lien, the Debtor believes that there are currently no outstanding amounts owed. About J.D. SAC Consulting J.D. SAC Consulting, LLC is an electrical and lighting contractor based in Kennesaw, Georgia. It provides commercial electrical services, lighting upgrades, and EV charger installations across 13 U.S. states. Its clients include major retailers such as Walmart and Hertz. J.D. SAC Consulting filed Chapter 11 petition (Bankr. N.D. Ga. Case No. 25-54195) on April 17, 2025, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. James Elbert, managing member, signed the petition. Judge Jeffery W. Cavender oversees the case. William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC represents the Debtor as legal counsel. J4G LLC: Jarrod Martin Named Subchapter V Trustee ------------------------------------------------- The U.S. Trustee for Region 7 appointed Jarrod Martin, Esq., a practicing attorney in Houston, as Subchapter V trustee for J4G LLC. Mr. Martin will be paid an hourly fee of $650 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Martin declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jarrod B. Martin, Esq. 1200 Smith Street, Suite 1400 Houston, TX 77002 Phone: 713-356-1280 Email: JBM.Trustee@chamberlainlaw.com About J4G LLC J4G LLC, doing business as Landscape Depot, operates as a construction and landscaping materials supplier in Texas. The Company offers landscape equipment and tool rentals for residential and commercial clients. It is also associated with food service operations under the names City Hall Cafe & Pie Bar, City Hall Café & Grocery, Jalepenos and with utility and construction services under the name Mercer Contracting. J4G sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34347) on July 30, 2025. In its petition, the Debtor reported total assets of $220,827 and total debts of $1,264,037. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Robert C. Lane, Esq., at The Lane Law Firm. JERK PIT: Gets Final OK to Use Cash Collateral ---------------------------------------------- The Jerk Pit, LLC received final approval from the U.S. Bankruptcy Court for the District of Columbia to use cash collateral to fund its operations. The final order authorized the Debtor to utilize the cash collateral of its secured lenders, including the U.S. Small Business Administration, Washington Area Community Investment Fund, Celtic Bank and WebBank, and merchant cash advance lenders. The lenders' cash collateral includes bank accounts and cash, much of which consists of the proceeds of receivables from various transaction processors. These receivables arise in the ordinary course of business from in-store and online transactions, and have been pledged or sold, at least in part, to the lenders. SBA has a senior lien on most of the pre-bankruptcy assets of the Debtor, including pre-bankruptcy receivables. Its claim is likely to be undersecured such that it is entitled to adequate protection against diminution in the value of its collateral. As adequate protection, the lenders will be granted a valid, perfected security interest in all receipts and receivables that arise from the Debtor's business on or after the petition date and any traceable proceeds of post-petition receivables. As further protection, the lenders will be granted an allowed administrative claim against the Debtor, with priority over all other administrative claims. To the extent that any creditor has a valid, perfected pre-bankruptcy security interest or other property interest in the lenders' collateral, the "adequate protection" liens granted to the lenders will be junior in priority to such interest. The "adequate protection" liens do not apply to any Chapter 5 causes of action. Meanwhile, the Debtor was ordered to continue its monthly payments of $1,562.50 to SBA as additional protection. The Debtor's authorization to use cash collateral terminates upon conversion of the Debtor's Chapter 11 case to one under Chapter 7, provided that the dismissal of the Debtor's case or termination or lapse of authority to use cash collateral will not impair the Debtor's authorization to pay the fee carveout. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/qJGAU from PacerMonitor.com. About The Jerk Pit The Jerk Pit, LLC is a Caribbean restaurant business operating in College Park, Maryland. The Jerk Pit sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00201) on May 28, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge Elizabeth L. Gunn handles the case. The Debtor is represented by: John Gordon Colan, Jr., Esq. Sinoberg Raft Tel: 804-513-1566 Email: john.colan@sinobergraft.com JUS BROADCASTING: Court Extends Cash Collateral Access to Nov. 7 ---------------------------------------------------------------- Jus Broadcasting Corporation and its affiliates received another extension from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral. The court's fourth interim order authorized Jus Broadcasting, Jus Punjabi LLC, and Jus One Corp., to use cash collateral from August 1 to November 7 to fund operations in accordance with a court-approved budget. During the interim period, secured creditors JPMorgan Chase Bank and CESC-COVID EIDL Service Center will receive $4,000 per month and $3,500 per month, respectively, as adequate protection for the Debtors' use of their cash collateral. The next hearing is scheduled for November 5. The Debtors' cash collateral includes assets in which JPMorgan and CESC-COVID EIDL Service Center have liens or security interests. Jus Broadcasting entered into a secured line of credit borrowing with JPMorgan in 2020, and a $2 million loan agreement with CESC-COVID EIDL Service Center in 2021. A copy of the Debtor's budget is available at https://shorturl.at/FgQYC from PacerMonitor.com. About Jus Broadcasting Corp Jus Broadcasting Corp sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 1-24-45180-jmm) on December 11, 2024. In the petition signed by Penny K, Sandthu, president and sole principal, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Leo Fox, Esq., at Law Office of Leo Fox, Esq., is the Debtor's bankruptcy counsel. JPMorgan Chase Bank N.A., as secured creditor, is represented by: A. Albert Buonamici, Esq. Buonamici & LaRaus, LLP. 222 Bloomingdale Road Suite 301 White Plains, NY 10605 (914) 288-9200 KDZ REALTY: Seeks to Hire Conway Law Group as Bankruptcy Counsel ---------------------------------------------------------------- KDZ Realty, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire Conway Law Group PC as attorneys. The firm's services include: a. advising the Debtor of its rights and obligations under the Bankruptcy Code; b. preparing all necessary pleadings, motions, and filings; c. representing the Debtor in all proceedings before the Court; d. assisting with potential asset sales and negotiations; and e. supporting the formulation and confirmation of a Chapter 11 Plan. The firm's hourly billing rates are: Attorneys $550 Paralegals $200 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Conway 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: Martin C. Conway, Esq. Conway Law Group, PC 1320 Central Park Blvd., #200 Fredericksburg, VA 22401 Tel: (855) 848-3011 Fax: (575) 385-3334 Email: martin@conwaylegal.com About KDZ Realty LLC KDZ Realty, LLC is a Richmond-based real estate company that operates in the real estate sector (NAICS code 5311) with its principal place of business at 2204 Redd Street, Richmond, Va. KDZ Realty sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-32924) on July 24, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. The Debtor is represented by Martin C. Conway, Esq., at Conway Law Group, PC. KEHE DISTRIBUTORS: S&P Downgrades ICR to 'B', Outlook Stable ------------------------------------------------------------ S&P Global Ratings lowered the issuer credit rating to 'B' from 'B+', the issue-level rating on Illinois-based organic and specialty foods distributor KeHE Distributors Holdings LLC's ABL facility to 'BB-' from 'BB', and the issue-level rating on the company's secured notes to 'B-' from 'B'. The '1' and '5' recovery ratings, respectively, are unchanged. The stable outlook reflects S&P's expectation for modest improvement in adjusted EBITDA margin to the high-4% area and S&P Global Ratings-adjusted leverage to remain in the mid-5x area over the next 12 months." KeHE Distributors Holdings LLC announced the repurchase of the remaining ownership stake held by minority sponsor TowerBrook, funding the transaction with its asset-based lending (ABL) facility. S&P said, "We expect the incremental borrowings will delay the company's deleveraging, leading to S&P Global Ratings-adjusted leverage in the mid-5x area through fiscal 2026 (ending April 2027). "The downgrade reflects our expectation for S&P Global Ratings'-adjusted leverage to remain elevated in the mid-5x area through fiscal 2026 due to the repurchase of TowerBrook's remaining equity stake. On May 23, 2025, after the close of its fiscal 2025 (ended May 3, 2025), KeHE exercised its right to the call the remainder of outstanding class B shares owned by TowerBrook for $135 million. The execution of the buyback also triggered a $165 million payout of deferred purchase obligations under its 2020 long term incentive plan (LTIP) and the redemption of its class C shares for $21 million. Given the use of its ABL to fund the transaction, we expect leverage will remain elevated at 5.6x through fiscal 2026. While this represents an improvement from elevated leverage of 6.8x and 5.8x is fiscal years 2024 and 2025, respectively, current and forecast leverage are outside the range for the prior rating and are higher than the company's target. KeHE maintains a long-term net leverage target of less than 3.0x (company-adjusted; equated to 3.3x in fiscal 2025), which it now expects to achieve by fiscal year-end 2027 through EBITDA growth and partial repayment of ABL borrowings. "We expect KeHE will expand S&P Global Ratings-adjusted EBITDA margins to the high-4% area in fiscal-year 2026. The company reported a 70 basis-point (bp) improvement in adjusted EBITDA margin to 4.5% in fiscal 2025 due to sales leverage, operational improvements, and broad cost management initiatives. We expect an additional 30-bp margin expansion in fiscal 2026 as further sales leverage (we forecast 6%-7% annual topline growth, supported by expanding business with existing customers and industry tailwinds) and transportation and warehouse productivity gains more than offset gross margin pressure. KeHE's gross margin continues to be negatively affected by an unfavorable shift in its sales mix due to an outsized increase in its business with its largest customer, which has below-corporate-average margins. Our base case assumes the company enters a long-term contract with Sprouts, following its recently announced short-term extension. "We expect relatively thin cash flow after settling its mandatory Employee Stock Ownership Plan (ESOP) repurchase obligations. Although KeHE generates significant reported free operating cash flow (FOCF), the company faces large mandatory repurchase obligations associated with its ESOP ownership structure. In fiscal 2025, the company generated reported FOCF of more than $100 million before ESOP repurchase obligations of $121 million. In fiscal years 2026 and 2027, we forecast annual reported FOCF (excluding the previously described $165 million settlement of deferred purchase obligations) of $175 million-$200 million before annual ESOP repurchase obligations of $160 million-$190 million. These obligations have historically constituted 20%-30% of adjusted EBITDA. We expect it will use most remaining free cash flow for debt repayment and business investment. "Despite its leading position in the growing specialty natural and organic (N&O) segment of food retailing, KeHE faces challenges due to its relatively small scale and customer concentration in the wholesale distribution industry. The N&O and specialty foods segments has materially outpaced the growth of conventional food products over the last decade due to changing consumer tastes and preferences. We expect KeHE, the second-largest distributor of N&O products in the U.S., will continue to benefit from these trends. While we recognize the progress KeHE has achieved in expanding its scale over the last few years, we believe the company lacks the purchasing power and reach of its larger competitors, including United Natural Foods (UNFI) and C&S Wholesale Grocers. In addition, its sales remain concentrated, with its three largest accounts representing more than 50% of total sales in fiscal 2025 and the largest customer accounting for about 30% of total net sales. As a result of its position relative to peers, we have revised our comparable ratings analysis modifier to neutral from positive. "The stable outlook reflects our expectation for a modest improvement in leverage to the mid-5x area in fiscal 2026, with support from sales momentum and incremental margin expansion." S&P could lower its rating on KeHE if adjusted leverage increases and remains above 6x and the company is unable to generate positive cash flow after settling its mandatory ESOP repurchase obligations. This could occur if: -- Its operating results weaken due to increased competitive pressures or if the company is unable to sufficiently offset growth in its lower-margin business with other income sources; or -- The company adopts a more aggressive financial policy. S&P could raise its rating on KeHE if it improves and maintains adjusted leverage below 5x and demonstrates more meaningfully positive cash flow after settling its mandatory ESOP repurchase obligations. This could occur if: -- The company continues to scale its business with existing and new customers and executes on its operating initiatives, leading to incremental margin expansion; and -- It demonstrates a commitment to its financial policy, including through partial repayment of borrowings under its ABL. KOZUBA & SONS: Gets Interim OK to Use Cash Collateral Until Aug. 21 ------------------------------------------------------------------- Kozuba & Sons Distillery, Inc. received eleventh interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division to use cash collateral in accordance with its projected budget. The Debtor was authorized to use cash collateral to pay (i) amounts expressly authorized by the court, including any required monthly payments to the Subchapter V trustee; (ii) the current and necessary expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and (iii) additional amounts subject to approval by its lenders. Each creditor with a security interest in cash collateral will have a perfected post-petition lien on cash collateral to the same extent and with the same validity and priority as its pre-bankruptcy lien. The Debtor will keep its property insured in accordance with its loan agreements with lenders. The next hearing is scheduled for August 21. The Debtor's primary secured obligations consist of amounts owed to VFS, LLC in the approximate amount of $284,000, and Crown Equipment Corporation in the approximate amount of $12,650. While both VFS and Crown Equipment filed financing statements, it appears that only Crown asserts an interest in cash collateral as that term is defined in 11 U.S.C. Section 363(a). About Kozuba & Sons Distillery Kozuba & Sons Distillery, Inc., a company in Pinellas Park, Fla., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-01003) on February 28, 2024, with $1 million to $10 million in both assets and liabilities. Jakub Kozuba, vice president of Kozuba & Sons, signed the petition. Judge Roberta A. Colton presides over the case. Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, P.A. is the Debtor's legal counsel. VFS, LLC, as lender, is represented by: Ryan C. Reinert, Esq. Bridget M. Dennis, Esq. Shutts & Bowen, LLP 4301 W. Boy Scout Blvd., Suite 300 Tampa, FL 33607 Telephone: (813) 229-8900 rreinert@shutts.com bdennis@shutts.com L.D. LYTLE: Gets Interim OK to Use Cash Collateral -------------------------------------------------- L.D. Lytle, Inc. received second interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division to use cash collateral. The Debtor needs to use cash collateral to continue operating its child-care business. It owns three daycare facilities, two of which are currently operational in Ennis and Ferris, Texas, while the third is completed but not yet open. The court's order authorized the Debtor's interim use of cash collateral through August 20 to pay the expenses set forth in its budget, with a 15% variance allowed per line item and overall. The Debtor projects total monthly operational expenses of $87,868.93. The U.S. Small Business Administration, Texas Capital Bank, Purple Tree Funding, and Global Merchant Cash, Inc. are the secured lenders claiming liens on the Debtor's personal property including accounts. As adequate protection for any diminution in the value of their pre-bankruptcy collateral, the secured lenders will be granted valid, binding, enforceable, and perfected liens co-extensive with their pre-bankruptcy liens on all assets of the Debtor. The final hearing is scheduled for August 20. About L.D. Lytle Inc. L.D. Lytle Inc., doing business as Sunshine Kids Academy, operates early childhood education and daycare centers in Texas. It provides childcare services at locations in Ennis, Ferris, and Red Oak. L.D. Lytle sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-32454) on June 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge Michelle V. Larson handles the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC is the Debtor's legal counsel. Texas Capital Bank, as secured lender, is represented by: Richard G. Dafoe, Esq. Waddell Serafino Geary Rechner Jenevein, PC 1717 Main Street, Suite 2500 Dallas, TX 75201 Telephone: (214) 979-7400 Telecopier: (214) 979-7402 rdafoe@wslawpc.com LAID RIGHT: Seeks to Hire Johnsons Accounting as Accountant ----------------------------------------------------------- Laid Right Site Development, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Johnsons Accounting and Tax Services, Inc. as accountant. The firm will provide the ongoing bookkeeping services and bi-weekly payroll. The firm has agreed to provide these services on a flat fee basis and has agreed to accept $950 to complete the work. Johnsons Accounting and Tax Services is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Connie S. Johnson, EA Johnson's Accounting and Tax Services, Inc. 347 Wilson Rd Sanford, NC 27332 Phone: (919) 774-3904 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. The Debtor is represented by JM Cook, Esq. at J.M. Cook, P.A. LAKE COUNTY: Court Extends Cash Collateral Access to Aug. 28 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois extended Lake County Hospitality, LLC's authority to use cash collateral to August 28. The court's third order authorized the Debtor's interim use of cash collateral to pay operating expenses in accordance with its budget, with 10% budget variance allowed. As protection, Albany Bank & Trust Company, N.A, a senior secured creditor, was granted replacement liens on all of the categories and types of collateral in which it held a security interest and lien as of the petition date. This includes, without limitation, cash in the possession of Debtor resulting from its operations and the proceeds thereof. The next hearing is set for August 27. Objections are due by August 25. Albany holds a lien on the Debtor's assets, including its hotel property located at 900 W. Lake Cook Road in Buffalo Grove, Ill. These assets secure a loan balance of approximately $4.8 million. Albany, as senior secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com About Lake County Hospitality Lake County Hospitality, LLC operates in the hotel and lodging sector and is associated with properties in Illinois. It manages hospitality assets and has been linked to hotels such as Four Points by Sheraton in Buffalo Grove. Lake County Hospitality sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08293) on May 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Timothy A. Barnes handles the case. Paul M. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. LEGACY NORTH: Seeks Chapter 7 Bankruptcy w/ Up to $10MM Debt ------------------------------------------------------------ Yun Park of Law360 reports that Legacy North Royalton Operating Company LLC, a nursing home operator, has filed for Chapter 7 liquidation in Ohio bankruptcy court, reporting assets and liabilities each estimated between $1 million and $10 million. About Legacy North Royalton Operating Company LLC Legacy North Royalton Operating Company LLC is a nursing home operator. Legacy North Royalton Operating Company LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-31566) on August 05, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Tyson A. Crist handles the case. The Debtor is represented by Richard K. Stovall, Esq. at Allen Stovall Neuman & Ashton LLP. LINQTO TEXAS: Hires Sullivan & Cromwell as Corporate Counsel ------------------------------------------------------------ Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Sullivan & Cromwell LLP as special regulatory and corporate counsel. The firm will render these services: (a) advice and assistance with respect to securities law matters; (b) advice and assistance with respect to criminal and civil regulatory investigations; and (c) advice and assistance with respect to other matters as the Debtors may request from time to time; in each case without duplication of the services of any other Debtor professional. S&C's billing rates are: Counsel and Partners $1,850 to $2,625 Associates $945 to $1,750 Legal Assistants $500 to $690 The firm received a retainer in the amount of $350,000. Pursuant to paragraph D, section 1 of the U.S. Trustee Guidelines, S&C responds to the questions set forth therein as follows: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Yes. S&C does not ordinarily determine its fees solely on the basis of hourly rates. For the purposes of its engagement by the Debtors, S&C has agreed that it will charge for services performed during these Chapter 11 Cases, and will apply to the Court for approval of such charges, on the basis of the hourly rates described in this Declaration. The hourly rates are the same or less than the hourly rates used by S&C when preparing estimates of fees under its normal billing practices. In particular, the rates for the more senior timekeepers for each class represent a discount from the rates currently used by S&C when preparing estimates of fees under its normal billing procedures for non-bankruptcy engagements. 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 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. Response: S&C does not ordinarily determine its fees solely on the basis of hourly rates. Prior to the Petition Date, S&C performed services for the Debtors and was compensated for its services at rates that reflect all of the factors prescribed by rule 1.5(a) of the New York Rules of Professional Conduct, including the firm's contribution to the relevant matter, the responsibility assumed, the results achieved, the difficulty and complexity of the matter, the amount involved, the experience of, and demands on, the lawyers involved and the fees customarily charged for such matters consistent with S&C's practice for non-bankruptcy engagements. Following the Petition Date, S&C's billing rates will range from $1,850 to $2,625 per hour for partners and counsel, $945 to $1,750 per hour for associates and $500 to $690 per hour for paralegals. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: S&C has discussed its anticipated scope of services with the Debtors and expects to submit for approval by the Debtors a prospective budget and staffing plan on a monthly basis for the duration of these Chapter 11 Cases. Dalia O. Blass, Esq., a partner at Sullivan & Cromwell, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Dalia O. Blass, Esq. Sullivan & Cromwell, LLP 125 Broad Street New York, NY 10004-2498 Tel: (212) 558-4000 Fax: (212) 558-3588 Email: blass@sullcrom.com 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. LINQTO TEXAS: Seeks to Hire Jefferies LLC as Investment Banker -------------------------------------------------------------- Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Jefferies LLC as their investment banker. The firm will render these services: (a) Restructuring. Jefferies will: (i) provide advice and assistance to the Company in connection with analyzing, structuring, negotiating and effecting, and acting as exclusive investment banker to the Company in connection with any restructuring, reorganization, recapitalization, repayment or material modification of the Company's outstanding indebtedness or obligations (including, without limitation, any preferred equity), however achieved, including, without limitation, through any offer by the Company with respect to any outstanding Company indebtedness or obligations, a solicitation of votes, approvals, or consents giving effect thereto (including with respect to a prepackaged or prenegotiated plan of reorganization or other plan pursuant to chapter 11, Title 11 of the United States Code (the "Bankruptcy Code")), the execution of any agreement giving effect to the same, an offer by any third party to convert, exchange or acquire any outstanding Company indebtedness or obligations, or any similar balance sheet restructuring involving the Company (any of the foregoing, a "Restructuring"); and (ii) perform the following investment banking services, among others, for the Company in connection with a Restructuring: (A) becoming familiar with, to the extent Jefferies deems appropriate, and analyzing, the business, operations, properties, financial condition and prospects of the Company; (B) advising the Company on the current state of the "restructuring market"; (C) assisting and advising the Company in developing a general strategy for accomplishing a Restructuring; (D) assisting and advising the Company in implementing a Restructuring; (E) assisting and advising the Company in evaluating and analyzing a Restructuring, including the value of the securities or debt instruments, if any, that may be issued in any such Restructuring; and (F) rendering such other investment banking services as may from time to time be agreed upon by the Company and Jefferies. (b) M&A Transaction. Furthermore, during the term of the Engagement Letter, and as mutually agreed upon by Jefferies and the Company, Jefferies will provide the Company with financial advice and assistance in connection with a possible sale, disposition or other business transaction or series of transactions involving all or a material portion of the equity or assets of one or more entities comprising the Company, including, for the avoidance of doubt and without limitation, the Funds, whether directly or indirectly and through any form of transaction, including, without limitation, merger, reverse merger, liquidation, stock sale, asset sale, asset swap, recapitalization, reorganization, consolidation, amalgamation, spinoff, split-off joint venture, strategic partnership, license, a sale under section 363 of the Bankruptcy Code (including any "credit bid" made pursuant to section 363(k) of the Bankruptcy Code and including under a prepackaged or pre-negotiated plan of reorganization or other plan pursuant to the Bankruptcy Code) or other transaction (any of the foregoing, an "M&A Transaction"). (c) Financing. During the term of the Engagement Letter, and as mutually agreed upon by Jefferies and the Company and as appropriate, Jefferies will provide the Company with financial advice and assistance in connection with the arrangement and/or placement of any debtor-in-possession financing, whether secured or unsecured, including, without limitation, the issuance of any securities and/or entry into any bank debt and/or other credit facility (any of the foregoing a "DIP Financing" and a DIP Financing, a Restructuring and an M&A Transaction, each and together, a "Transaction"). For the avoidance of doubt, if a DIP Financing is executed in more than one issuance or tranche, each shall be deemed to be a DIP Financing for the purposes of the Engagement Letter. The firm will be compensated as follows: (a) Monthly Fee. A monthly fee (the "Monthly Fee") equal to $125,000 per month until the termination of the Engagement Letter. The first Monthly Fee shall be payable as of the date of the Engagement Letter and each subsequent Monthly Fee shall be payable on each monthly anniversary thereafter. Commencing with the fourth full Monthly Fee actually paid under the Engagement Letter, an amount equal to 50 percent of the Monthly Fees actually paid to Jefferies shall be credited once, without duplication, against any Restructuring Fee or M&A Transaction Fee that subsequently becomes payable to Jefferies under the Engagement Letter. (b) Restructuring Fee. Promptly upon the consummation of a Restructuring, a fee (a "Restructuring Fee") in an amount equal to $2,500,000. (c) M&A Transaction Fee. Promptly upon the consummation of an M&A Transaction, a fee (an "M&A Transaction Fee") equal to 2.0 percent of the Transaction Value of such M&A Transaction; provided, however, to the extent an M&A Transaction solely involves assets of one or more of the Funds, the M&A Transaction Fee payable on account of such M&A Transaction shall be equal to (i) 4.0 percent of the portion of Transaction Value of such M&A Transaction less than or equal to $10,000,000, plus (ii) 3.0 percent of the portion of Transaction Value of such M&A Transaction greater than $10,000,000 and less than or equal to $20,000,000, plus (iii) 2.0 percent of the portion of Transaction Value of such M&A Transaction greater than $20,000,000. It is expressly understood that in the event that more than one M&A Transaction shall occur, a separate M&A Transaction Fee shall be payable in respect of each M&A Transaction. Notwithstanding the foregoing, to the extent an M&A Transaction Fee is calculated based upon the Transaction Value of an M&A Transaction and the Transaction Value of such M&A Transaction includes any contingent consideration or consideration paid in installments, the M&A Transaction Fee allocable to such contingent consideration or installments shall be paid to Jefferies when such contingent consideration or installments is received by the Company, its creditors or other stakeholders. (d) DIP Financing Fee. Promptly upon consummation of a DIP Financing, a fee (a “DIP Financing Fee”) equal to 2.0% of the aggregate amount committed in connection with such DIP Financing. (e) Expenses. In addition to any fees that may be paid to Jefferies under the Engagement Letter, whether or not any Transaction occurs, the Company will reimburse Jefferies, promptly upon receipt of an invoice therefor, for all out-of-pocket expenses (including ancillary expenses and fees and expenses of its counsel and any other independent experts retained by Jefferies) incurred by Jefferies and its designated affiliates in connection with the engagement contemplated under the Engagement Letter. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael O'Hara, a co-head of us and a managing director in the Debt Advisory & Restructuring Group at Jefferies LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael O'Hara Jefferies LLC 520 Madison Avenue New York, NY 10022 Tel: (212) 284-2300 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. LINQTO TEXAS: Seeks to Hire Katten Muchin Rosenman LLP as Counsel ----------------------------------------------------------------- Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Katten Muchin Rosenman LLP as counsel at the sole discretion of the special subcommittee. Prior to the Petition Date, Katten provided various legal services relating to the duties of the Special Subcommittee. The Special Subcommittee, with the assistance of Katten, is conducting the Independent Investigation into whether the Debtors hold potentially valuable and viable claims or causes of action against Related Parties. Katten's work in connection with the Independent Investigation remains open and will continue during the pendency of these Chapter 11 Cases. In addition, Katten will perform other duties, as directed by the Special Subcommittee, in connection with the Special Subcommittee's delegated authority during the Chapter 11 Cases. The firm will be paid at these rates: Partner $1,205 to $2,380 per hour Of Counsel $1,110 to $2,100 per hour Counsel and Special Staff $610 to $1,615 per hour Associate $715 to $1,210 per hour Paralegal $230 to $860 per hour Katten received $250,000 in advance fee deposits from the Debtors. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee Fee Guidelines. Question: Did the firm agree to any variations from, or alternatives to, the firm's standard billing arrangements for this engagement? Answer: No. Katten and the Debtors have not agreed to any variations from, or alternatives to, Katten's standard billing arrangements for this engagement. The rate structure provided by Katten is appropriate and is not significantly different from (a) the rates that Katten charges for other non-bankruptcy representatives, or (b) the rates of other comparably skilled professionals. Question: Do any of the Firm professionals in this engagement vary their rate based on the geographical location of the Debtors' chapter 11 cases? Answer: No. The hourly rates used by Katten in representing Linqto on behalf of and at the sole discretion of the Special Subcommittee are consistent with the rates that Katten charges other comparable chapter 11 clients, regardless of the location of the chapter 11 case. Question: If the Firm has represented the Debtors in the twelve months prepetition, disclose the Firm's billing rates and material financial terms for the prepetition engagement, including any adjustments during the twelve months prepetition. If the Firm's billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Answer: From Katten's engagement by Linqto on behalf of and at the sole discretion of the Special Subcommittee, as of June 13, 2025, to the Petition Date, Katten has followed the hourly billing rates set forth in this Declaration. Question: Have the Debtors approved the Firm's budget and staffing plan, and if so, for what budget period? Answer: Yes. Katten, in conjunction with the Special Subcommittee, has developed a budget and staffing plan for these Chapter 11 Cases for the period from the Petition Date, through and including April 15, 2026. Steven J. Reisman, Esq., a partner at Katten Muchin Rosenman 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: Steven J. Reisman, Esq. Katten Muchin Rosenman LLP 50 Rockefeller Plaza New York, NY 10020 Tel: (212) 940-8800 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. LINQTO TEXAS: Seeks to Hire Schwartz PLLC as Bankruptcy Counsel --------------------------------------------------------------- Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Schwartz, PLLC as counsel. The firm will provide legal services in connection with the prosecution and confirmation of these Chapter 11 Cases. Schwartz hourly rates are: Partners $975 to $1,000 Of Counsel $625 to $695 Associates $465 to $550 Paraprofessionals $285 to $305 The firm received an initial retainer of $25,000. Pursuant to subsection (1) to Part D of the U.S. Trustee Guidelines Fee Guidelines, Schwartz, PLLC response to the questions set forth therein as follows: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. None of the SL professionals expected to assist the Debtors in these Chapter 11 Cases have agreed to any variations from, or alternatives to, their standard billing arrangements for this engagement. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. The hourly rates charged by SL for this engagement are consistent with the rates that SL charges other comparable Chapter 11 clients, regardless of the location of the Chapter 11 case. Question: If you have 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 the reasons for the difference. Response: SL's billing rates range from $975 to $1,000 per hour for partners, $625 to $695 per hour for of counsel, $465 to $550 for associates, and $285 to $305 per hour for paraprofessionals. SL represented the Debtors during the months immediately before the Petition Date, using the foregoing hourly rates. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: SL is working with the Debtors to perform within the financing budget proposed for these Chapter 11 Cases (the "Budget and Staffing Plan"). The Debtors are aware that during the Chapter 11 Cases there may be unforeseeable fees and expenses that will need to be addressed by the Debtors and SL. SL and the Debtors will review the Budget and Staffing Plan throughout these Chapter 11 Cases to determine any adjustments required to the Budget and Staffing Plan. Samuel A. Schwartz, Esq., a partner of Schwartz, PLLC, assured the court that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, as required by Section 327(a). The counsel can be reached through: Samuel A. Schwartz, Esq. 601 East Bridger Avenue Las Vegas, NV 89101 Telephone: (702) 385-5544 Facsimile: (702) 442-9887 Email: saschwartz@nvfirm.com 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. LINQTO TEXAS: Seeks to Hire Triple P RTS as Restructuring Advisor ----------------------------------------------------------------- Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Triple P RTS, LLC as restructuring advisor. The firm's services include: (a) assisting in the evaluation and / or development of a short-term cash flow model and / or related liquidity management tools for the Debtors for such purpose(s) as the Debtors may require; (b) assisting in the evaluation and / or development of a business plan and / or such other related forecasts and analyses for the Debtors for such purpose(s) as the Debtors may require; (c) assisting in the evaluation and/or development of various strategic and / or financial alternatives and financial analyses for such purpose(s) as the Debtors may require; (d) assisting the Debtors in its engagement and negotiations with its various constituents, including, without limitation, holders of the Debtors' debt or equity, the Debtors' employees, and the Debtors' customers, vendors, and other commercial counterparties (collectively, "Constituents"); which assistance may include, without limitation, meeting with Constituents, developing presentations and providing management with financial analytical assistance necessary to facilitate such negotiations; (e) assisting in the development and distribution of other information that may be required by the Debtors or the Constituents; (f) assisting in the evaluation and implementation of contingency planning related to Debtors' commencing or otherwise becoming the subject of a case under Chapter 11 of title 11 of the United States Code; (g) assisting in obtaining and presenting information required by parties in interest in a Chapter 11 Case, including any statutory committees appointed in the Chapter 11 Case, or by the Court presiding over the Chapter 11 Case; (h) assisting in the preparation of other business, financial and/or other reporting related to a Chapter 11 Case, including, but not limited to, development and execution of asset sales, a Chapter 11 plan of reorganization for the Debtors (a "Plan"), and a disclosure statement for the Plan; and (i) assisting with such other matters as may be requested by the Debtors that are within Portage Point's expertise and otherwise mutually agreeable to Portage Point and the Debtors. Portage Point's hourly rates: CEO $1,150 Service Line Leader $950 to $995 Managing Director $895 to $950 Director $695 to $800 Vice President $550 to $675 Associate $395 to $450 Portage Point received advance payments totaling $825,000. Thomas Studebaker, managing director at Portage Point Partners, disclosed in a court filing that the firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Thomas Studebaker Portage Point Partners, LLC 640 Fifth Ave, 10th Floor New York, NY 10019 Tel: (617) 306-7141 Email: tstudebaker@pppllc.com 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. LINQTO TEXAS: Taps Jeffrey S. Stein of Breakpoint Partners as CRO ----------------------------------------------------------------- Linqto Texas, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Breakpoint Partners LLC and designate Jeffrey S. Stein as chief restructuring officer. The firm's services include: a. identifying and exploring the Debtors' strategic alternatives and other restructuring and transactional options that are intended to be value accretive to the Debtors; b. assessing options to optimize the Debtors' capital structure; c. managing and implementing any Transactions of the Debtors; d. analyzing, structuring, negotiating, recommending, effecting and generally assisting the Board and the Debtors with respect to any Transactions; e. communicating and/or negotiating with outside constituents, including, but not limited to, lenders to the Debtors and prospective counterparties to potential Transactions; f. developing and implementing cash management strategies and processes designed to enhance liquidity; g. reviewing and analyzing the revised business plan(s), including financial and operating budgets; h. reviewing and recommending changes that would enhance the efficiency and cost effectiveness of the Debtors' corporate organization; and i. serving as a declarant in connection with court filings or responsible person under bankruptcy law, as necessary and/or as directed by the Board. Breakpoint will receive compensation as follows: a. Hourly Fee. The Debtors shall pay Breakpoint an hourly fee of $1,650 per hour, with $375 of each Hourly Fee paid to Breakpoint upon receipt of invoice, and subject to Court approval, and $1,275 of each Hourly Fee accrued and deferred; b. Treatment of Deferred Fees. Upon the consummation of a Restructuring, Breakpoint will have the right to elect one of two options in full satisfaction of the Deferred Fees: i. Participation in any management incentive program ("MIP") with a total allocation of 8.5 percent of the overall MIP pool (without regard to whether amounts in such pool are otherwise granted or held in reserve for future grants, and further, such participation shall be fully vested immediately upon emergence from Chapter 11, without further restriction, including future performance triggers, or other restrictions generally associated with MIPs); or ii. Payment in cash after a multiplier of 1.85x is applied to the Deferred Fees balance to account for, among other things, the deferral of payment and associated risk to Breakpoint. c. Expenses. In addition to any fees that may be paid to Breakpoint under the Engagement Letter, the Debtors will reimburse Breakpoint for all reasonably necessary out-of-pocket expenses incurred during the engagement including, but not limited to, travel and lodging, direct identifiable data processing, document production, publishing services and communication charges, courier services, working meals, reasonable fees and expenses of Breakpoint's counsel (without the requirement that the retention of such counsel be approved by the court in any Chapter 11 case not to exceed $25,000 without the Debtors' prior consent, and other reasonably necessary expenditures, payable upon rendition of invoices setting forth in reasonable detail the nature and amount of such expenses. Peter Laurinaitis, a managing partner at Breakpoint Partners, assured the court that Breakpoint is a "disinterested person" as that term is defined in Section 101(14). The firm can be reached through: Jeffrey S. Stein Peter Laurinaitis Breakpoint Partners LLC 2905 Jupiter Park Drive, Suite 200 Jupiter, FL 33458 Mobile: (646) 361-2924 Email: jstein@breakpointpartnersllc.com 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. LION RIBBON: Seeks to Hire Latham & Watkins as Bankruptcy Counsel ----------------------------------------------------------------- Lion Ribbon Texas Corp. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Latham & Watkins LLP as counsel. The firm will render 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 the Chapter 11 cases; (c) advise the Debtors and take all necessary action to protect and preserve their estates; (d) analyze proofs of claim filed against the Debtors and object to such claims as necessary; (e) represent the Debtors in connection with obtaining authority to continue using cash collateral and to procure postpetition financing; (f) attend meetings and negotiate with representatives of creditors, interest holders, and other parties in interest; (g) analyze executory contracts and unexpired leases and potential assumptions, assignments, or rejections of such contracts and leases; (h) prepare pleadings in connection with the Chapter 11 cases; (i) advise the Debtors in connection with any potential sale of assets; (j) take necessary action on behalf of the Debtors to obtain approval of a disclosure statement and confirmation of a Chapter 11 plan; (k) appear before this court or any appellate courts to protect the interests of the Debtors' estates before those courts; (l) advise on corporate, litigation, finance, tax, employee benefits, and other legal matters; (m) advise the Debtors with respect to issues related to the wind down of certain entities; and (n) perform all other necessary legal services for the Debtors in connection with the Chapter 11 cases. The firm will be paid at these hourly rates: Partners $1,680 - $2,650 Counsel $1,595 - $2,070 Associates $835 - $1,635 Professional Staff $255 - $980 Paraprofessionals $355 - $755 In addition, the firm will seek reimbursement for expenses incurred. The 90-day period prior to the petition date, the firm received advances in the aggregate amount of $4,250,000 for services to be performed and expenses to be incurred. Caroline Reckler, Esq., a partner at Latham & Watkins, 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 the firm agree to any variations from, or alternatives to, its standard billing arrangements for this engagement? Answer: No. Question: Do any of the firm professionals in this engagement vary their rate based on the geographic location of the Debtors' Chapter 11 cases? Answer: No. Question: If the firm has represented the Debtors in the 12 months prepetition, disclose its 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 the reasons for the difference. Answer: The firm's current hourly rates for services rendered on behalf of the Debtors are set forth above. All material financial terms have remained unchanged since the prepetition period, except (i) the rates for certain lawyers advising the Debtors in these Chapter 11 cases will be limited by the applicable rate ranges set forth in paragraph 12 above and (ii) for a postpetition 50 percent discount for non-working travel time. Question: Have the Debtors approved the firm's budget and staffing plan and, if so, for what budget period? Answer: The Debtors have approved the budgeted expenses of the firm reflected in the approved (13-week) budget appended to the Interim DIP Order as Schedule 1 thereto. In connection with the Final DIP Order (as defined in the Interim DIP Order) certain modifications may be made to the budget, including with respect to professional fees and as of the date hereof, such budget has not yet been finalized. The Debtors' approval will be sought and obtained with respect to any such revised budget, including the professional fees contained therein. The Debtors understand and agree that the budgeted amounts set forth therein reflect a good-faith estimate of, rather than a cap on, the firm's fees and expenses. Ms. Reckler 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: Caroline Reckler, Esq. Latham & Watkins LLP 1271 6th Ave. Albany County, NY 10020 Telephone: (212) 906-1200 About Lion Ribbon Texas Corp. Lion Ribbon Texas Corp. and affiliates design, manufacture, and distribute consumer crafting, gifting, and stationery products for celebrations, hobbies and creative play. They operate globally, with facilities across North America and supporting operations in India, Hong Kong, China, the United Kingdom, and Australia. They supply both branded and private-label products to consumers and major corporate clients. The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90164) on July 3, 2025. In their petitions, the Debtors reported $100 million to $500 million in assets and liabilities on a consolidated basis. Judge Christopher M. Lopez handles the cases. The Debtors are represented by Caroline A. Reckler, Esq., Ray C. Schrock, Esq., Adam S. Ravin, Esq., Randall Carl Weber-Levine, Esq., and Meghana Vunnamadala, Esq., at Latham & Watkins, LLP. The Debtors tapped Huron Consulting Services, LLC as investment banker and financial advisor; Deloitte Tax, LLP as tax services provider; Liskow & Lewis, APLC as conflicts counsel; C Street Advisory Group, LLC as communications advisor; and Kroll Restructuring Administration, LLC as claims, noticing and solicitation agent. LION RIBBON: Taps Huron as Financial Advisor and Investment Banker ------------------------------------------------------------------ Lion Ribbon Texas Corp. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Huron Consulting Services LLC as financial advisor and Huron Transaction Advisory LLC as investment banker. The firm will provide these services: (a) assist the Debtors in reviewing and analyzing their results of operations, financial condition and business plan; (b) assist the Debtors in reviewing and analyzing any potential capital transaction, sale transaction or restructuring; (c) assist the Debtors in structuring and negotiating any capital transaction, sale transaction or restructuring; (d) advise the Debtors on the terms of securities it offers in any potential capital transaction; (e) advise the Debtors on its preparation of an information memorandum for a potential capital transaction and/or sale transaction; (f) assist the Debtors in contacting potential providers of a capital transaction that Huron and the Debtors agree are appropriate, and meet with and provide them with the information memo and such additional information about their assets, properties or businesses that is acceptable to them, subject to customary business confidentiality agreements; (g) assist the Debtors in contacting potential counterparties for a sale transaction that they and the Huron Investment Banker Team agree as appropriate, and meet with and provide them with such additional information about their assets, properties or businesses that is acceptable to them, subject to customary business confidentiality agreements; (h) assist the Debtors in coordinating their due diligence investigation by counterparties as appropriate and acceptable to them; (i) meet with the Debtors and their board of directors to discuss any proposed transaction and their financial implications; (j) assist the Debtors in developing a strategy to effectuate any transaction; (k) provide such other investment banking services in connection with a capital transaction, sale transaction or restructuring as the Huron IB Team and the Debtors may mutually agree upon; and (l) to the extent requested, make use of additional Huron resources specifically regarding preparing for, navigating, and effectuating court-supervised proceedings available through an amended engagement letter with economics and terms to be mutually agreed upon between the Huron IB Team and the Debtors. Huron Financial Advisor (FA) Team will be paid at these hourly rates: Managing Director $1,075 - $1,400 Senior Director $985 Director $825 Manager $675 Associate $550 Analyst $475 Huron IB Team will be compensated at the following fee structure: (a) Monthly Fee - $150,000; (b) Transaction Fee: (i) Capital Transaction Fee: (1) 3.0 percent of the aggregate gross amount or face value of capital raised, plus 2.0 percent of the aggregate gross amount of any new money junior secured or unsecured debt obligations raised in the capital transaction; plus 1.5 percent of the aggregate gross amount of any new-money senior secured debt obligations and other interests raised in the capital transaction. In all circumstances, such fees will not total less than $375,000, without offsetting monthly fees earned; provided that there will be no fees earned with respect to any "rolled up" debt included in a Chapter 11 financing. (2) 2.0 percent of the aggregate gross amount or face value of capital raised in the capital transaction as equity, equity-linked interests, options, warrants or other rights to acquire equity interests, plus 1.0 percent of the aggregate gross amount of any new-money junior secured, unsecured debt obligations, senior secured debt obligations and other interests Raised in the capital transaction. In all circumstances, such fees will not total less than $375,000, without offsetting monthly fees earned; provided that there will be no fees earned with respect to any "rolled up" debt included in a Chapter 11 financing. (ii) Restructuring Fee of $1,500,000; (iii) IGDG Sale Transaction Fee of $1,500,000 and 2.5 percent of aggregate gross cash consideration plus assumed liabilities; (iv) Discrete Asset Sale Transaction Fee equal to 2.0 percent of the aggregate gross consideration received in such discrete asset sale transaction, but not less than $1,250,000 for aggregate gross consideration above $20,000,000, and 5 percent of aggregate gross consideration received for discrete asset sale transactions less than $20,000,000. (c) Tail Period - If, at any time prior to the 12 months following termination of the IB engagement the Debtors consummate any transaction or enter into an agreement or a plan of reorganization is filed regarding any transaction, and a Transaction is subsequently consummated, then it shall pay the Huron IB Team the applicable transaction fee(s) specified above immediately upon the closing of any such transaction(s). In addition, the firm will seek reimbursement for expenses incurred. During the 90-day period prior to the petition date, the Huron FA team was paid $1,774,210 and the Huron IB Team was paid $306,160. Brett Anderson, a managing director at Huron Consulting 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: Brett M. Anderson Huron Consulting Services LLC 550 West Van Buren Street Chicago, IL 60607 About Lion Ribbon Texas Corp. Lion Ribbon Texas Corp. and affiliates design, manufacture, and distribute consumer crafting, gifting, and stationery products for celebrations, hobbies and creative play. They operate globally, with facilities across North America and supporting operations in India, Hong Kong, China, the United Kingdom, and Australia. They supply both branded and private-label products to consumers and major corporate clients. The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90164) on July 3, 2025. In their petitions, the Debtors reported $100 million to $500 million in assets and liabilities on a consolidated basis. Judge Christopher M. Lopez handles the cases. The Debtors are represented by Caroline A. Reckler, Esq., Ray C. Schrock, Esq., Adam S. Ravin, Esq., Randall Carl Weber-Levine, Esq., and Meghana Vunnamadala, Esq., at Latham & Watkins, LLP. The Debtors tapped Huron Consulting Services, LLC as investment banker and financial advisor; Deloitte Tax, LLP as tax services provider; Liskow & Lewis, APLC as conflicts counsel; C Street Advisory Group, LLC as communications advisor; and Kroll Restructuring Administration, LLC as claims, noticing and solicitation agent. LYNNHAVEN SCHOOL: Jennifer McLemore Named Subchapter V Trustee -------------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Jennifer McLemore, Esq., at Williams Mullen as Subchapter V trustee for Lynnhaven School, Inc. Ms. McLemore will be paid an hourly fee of $530 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. McLemore declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jennifer M. McLemore, Esq. Williams Mullen 200 South 10th Street, Suite 1600 Richmond, VA 23219 (804) 420-6330 Email: jmclemore@williamsmullen.com About Lynnhaven School Lynnhaven School, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-33044) on July 31, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Paula S. Beran, Esq. at Tavenner & Beran, PLC represents the Debtor as legal counsel. M & M BUCKLEY: Court Extends Cash Collateral Access to Aug. 28 -------------------------------------------------------------- M & M Buckley Management Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The eighth interim order signed by Judge Janet Baer approved the use of cash collateral through August 28 to pay the expenses set forth in the Debtor's budget, with a 10% variance allowed. The budget projects total operational expenses of $15,751.00 for August. As adequate protection for the Debtor's use of its cash collateral, Community Loan Servicing, LLC will be granted post-petition replacement liens on the cash collateral and post-petition property of the Debtor, with the same priority and extent as its pre-bankruptcy lien. As additional protection, the Debtor was ordered to pay $12,500 to Community Loan Servicing this month and keep its real property insured, listing Community Loan Servicing as the lien holder. The final hearing is scheduled for August 27. About M & M Buckley Management Inc. M & M Buckley Management, Inc. is a professional property management company based in Richton Park, IL. It specializes in managing residential and commercial properties. M & M sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-19108) on December 23, 2024, with $1 million to $10 million in both assets and liabilities. Melvin T. Buckely, Jr., president of M & M, signed the petition. Judge Janet S. Baer handles the case. The Debtor is represented by Gregory K. Stern, Esq., at Gregory K. Stern, P.C. Secured creditor Community Loan Servicing is represented by: Jill Sidorowicz, Esq. Noonan & Lieberman, Ltd. 33 N. LaSalle Street, Suite 1150 Chicago, IL 60602 Phone: (312) 605-3500 MACHINE TOOL: To Sell Terre Haute Properties to Curtis J. Grayless ------------------------------------------------------------------ Machine Tool Service Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana, Terre Haute Division, to sell Property, free and clear of liens, claims, interest, and encumbrances. A description of the Properties to be solid can be found at: https://urlcurt.com/u?l=s35FeL The Debtor wants to sell the Properties to Curtis J. Grayless II with the sale price of $420,000 After payment of all current outstanding real estate and personal property taxes, appointed broker's fees, and clearance of the mortgage lien, there would be an estimated net proceeds of $236,073.80 for the benefit of estate in the payment of the remaining administrative, priority, and unsecured claims. The sale is contingent upon the Buyer securing acceptable financing, completing satisfactory inspections, and confirming the property’s environmental status meets required standards for financing and Buyer's satisfaction. The other offers to purchase were as follows: None in writing; however, other verbal offers were received for lesser amounts or required contingencies inconsistent with the need to liquidate this property while utilities and other taxes accrued. The Debtor is seeks to sell property free and clear of liens or other interests. The names of the lien or interest holders are as follows: -- Forrest Perry -- Vigo County Treasurer -- Internal Revenue Service -- Indiana Department of Revenue About Machine Tool Service Inc. Machine Tool Service, Inc. filed Chapter 11 petition (Bankr. S.D. Ind. Case No. 23-80337) on Aug. 24, 2023, with $500,001 to $1 million in both assets and liabilities. Judge Jeffrey J. Graham oversees the case. Richard W. Lorenz, Esq., at Hickam & Lorenz, P.C. represents the Debtor as legal counsel. MARIN SOFTWARE: Unsecureds Will Get 100% of Claims in Plan ---------------------------------------------------------- Marin Software Incorporated filed with the U.S. Bankruptcy Court for the District of Delaware a Firstt Amended Combined Disclosure Statement and Plan of Reorganization dated July 30, 2025. Marin is a provider of digital marketing software for search, social, and eCommerce advertising channels, offered as a software-as-a-service advertising management platform for performance driven advertisers and agencies. The Combined Disclosure Statement and Plan proposes to pay all holders of Claims against the Debtor in full and to distribute any remaining Cash of the Debtor to the holders of Interests on a Pro Rata basis. The proposed sponsor of the Plan is Kaxxa Holdings, Inc. ("Kaxxa" or "Plan Sponsor"), an affiliate of the Debtor's prepetition and postpetition lender, YYYYY, LLC (the "Prepetition Lender" and the "DIP Lender"). The Plan Sponsor and the Prepetition Lender and DIP Lender are the "Supporting Parties." The Debtor and the Supporting Parties are parties to a Restructuring Support Agreement dated as of July 1, 2025 (together with all exhibits thereto, and as amended, restated, and supplemented from time to time, the "Restructuring Support Agreement" or "RSA"), the assumption of which is subject to a separate motion filed by the Debtor, that sets forth the principal terms of the Restructuring and requires the parties thereto to support the Plan. As set forth in this Combined Disclosure Statement and Plan, through a payment of Plan Consideration totaling $5.5 million to the Plan Administrator by the Plan Sponsor, the Restructuring contemplates full payment of all Claims against the Debtor and a distribution of any remaining Cash to the holders of Interests. In consideration of the foregoing, (a) Reorganized Debtor New Equity will be issued to the Plan Sponsor and, if the DIP Lender exercises its Subscription Option, the DIP Lender, (b) any Claims of the Prepetition Lender against the Debtor will be waived, and (c) the going-concern value of the Debtor's business and operating assets will be preserved. Generally, the Plan provides for (1) the reorganization of the Debtor by retiring, cancelling, extinguishing and/or discharging all Interests; (2) the funding of the Plan Consideration by the Plan Sponsor, (3) the distribution of Available Cash to holders of Allowed Claims and Interests by the Plan Administrator in accordance with the priority scheme established by the Bankruptcy Code or as otherwise agreed; (4) the revesting of all assets of the Debtor's Estate in the Reorganized Debtor (excluding Cash that will be distributed to the Holders of Claims and Interests); and (5) the issuance of 100% of the Reorganized Debtor New Equity to the Plan Sponsor and, if the DIP Lender exercises its Subscription Option, the DIP Lender. On the Effective Date, the Plan Sponsor will acquire up to 100% of the Reorganized Debtor New Equity, subject to the Subscription Option in favor of the DIP Lender, together with all or substantially all of the Debtor's assets, free and clear of any options, liens, or other claims, excluding the Debtor's cash, the Plan Consideration, the Debtor's prepetition accounts receivable (and the proceeds thereof), and any other assets of the Debtor that the Plan Sponsor determines to exclude in its sole discretion. On and after the Effective Date, the Plan Administrator will make distributions in accordance with the Plan, using the Plan Consideration and any Available Cash. Based upon the Debtor's current estimates, the Debtor anticipates there will be sufficient Plan Consideration and Available Cash to provide full cash recoveries to all Holders of Allowed Claims and a distribution to Holders of Equity Interests on a Pro Rata basis. The Prepetition Lender, which is also the DIP Lender and an affiliate of the Plan Sponsor, has agreed to waive its Claim against the Debtor and any distribution on account thereof for the benefit of the Debtor's other stakeholders. Class 4 consists of all Unsecured Claims. Except to the extent that a Holder of an Allowed Unsecured Claim agrees to a less favorable treatment, in exchange for full and final satisfaction of each Allowed Unsecured Claim, the Plan Administrator shall pay each holder of an Allowed Unsecured Claim the full unpaid amount of such Allowed Unsecured Claim on the latest of the following dates: (i) on or as soon as practicable after the Effective Date, (ii) on or as soon as practicable after the date such Allowed Unsecured Claim becomes an Allowed Claim, and (iii) the date such Allowed Unsecured Claim is payable under applicable non-bankruptcy law. Class 4 is Unimpaired. The allowed unsecured claims total $3,000,000 to $4,000,000. Class 4 will receive a distribution of 100% of their allowed claims. Class 5 consists of all Interests in the Debtor. Except to the extent that a Holder of an Allowed Interest agrees to a less favorable treatment, in exchange for full and final satisfaction of each Allowed Interest, the Plan Administrator shall pay each Holder of an Allowed Class 5 Interest its Pro Rata share of the Plan Consideration and any Available Cash, if any, in accordance with the Distribution Waterfall, as soon as practicable after payment in full of all Allowed Claims. The Debtor believes there will be between $2.5 million and $4.0 million in available Plan Consideration and Available Cash after the implementation of the Plan and payment of all Allowed Claims in accordance with the Distribution Waterfall. On the Effective Date, all Interests shall be retired, cancelled, extinguished, and discharged. On the Effective Date, the Plan Sponsor shall contribute to the Debtor or its designee an amount of Cash equal to the Plan Consideration, which shall be made available to the Plan Administrator consistent with the terms of the Plan. Funding of the Plan Consideration is not subject to any financing contingency. The Plan Consideration shall be used to fund Distributions under the Plan, subject to the terms hereof. A full-text copy of the First Amended Combined Disclosure Statement and Plan dated July 30, 2025 is available at https://urlcurt.com/u?l=N0FSBO from Donlin, Recano & Company, LLC, claims agent. Counsel to the Debtor: Jason H. Rosell, Esq. James E. O'Neill, Esq. Debra I. Grassgreeen, Esq. Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899-8705 Tel: (302) 652-4100 Email: joneill@pszjlaw.com dgrassgreen@pszjlaw.com jrosell@pszjlaw.com About Marin Software Incorporated Marin Software Incorporated provides a software-as-a-service platform for managing digital advertising across search, social, and eCommerce channels. Its platform offers analytics, workflow, and optimization tools designed to help performance marketers and agencies improve returns on advertising spend. Marin Software Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11263) on July 1, 2025. In its petition, the Debtor reports total assets of $5,656,853 and total debts of $2,767,237. The Debtor's bankruptcy counsel is James E. O'Neill, Esq. at PACHULSKI STANG ZIEHL & JONES LLP. The Debtor's Corporate Counsel is FENWICK & WEST LLP. ARMANINO ADVISORY LLC is the Debtor's Financial Advisor and DONLIN, RECANO & COMPANY, LLC is the Debtor's Claims, Noticing & Solicitation Agent and Administrative Advisor. MARKUS CORP: Court Extends Cash Collateral Access to Sept. 3 ------------------------------------------------------------ Markus Corp received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral until September 3, marking the sixth extension since its Chapter 11 filing. The Debtor needs to use its lenders' cash collateral to pay the expenses set forth in its budget, which shows total operational expenses of $25,862.50 for the period from August 1 to September 3. The Debtor owes $426,224.08 and $264,476.06 to the U.S. Small Business Administration and Village Bank & Trust, N.A., respectively. These creditors have perfected liens on the Debtor's assets, including cash, bank deposits and accounts receivable, which constitute cash collateral. As adequate protection, both lenders will be granted a replacement lien on substantially all of the Debtor's assets, including those acquired after its Chapter 11 filing. This replacement lien will have the same validity and extent as the secured creditors' pre-bankruptcy liens. The lenders will also be granted an administrative expense claim as additional protection. The next hearing is scheduled for September 2. SBA and Village Bank & Trust have a valid blanket lien on assets of the Debtor as of the petition date including the cash proceeds. Both hold a security interest in all assets of the Debtor by way of a valid lien. The Debtor believes SBA's lien has the first priority position. About Markus Corporation Markus Corp is an owner and operator of three semi-trucks and hauls cargo for its client. Markus filed Chapter 11 petition (Bankr. N.D. Ill. Case No. 25-03310) on March 4, 2025, listing up to $100,000 in assets and up to $1 million in liabilities. Markus President Marek Kusmierczyk signed the petition. Judge Timothy A. Barnes oversees the case. Arthur Corbin, Esq., at Corbin Law Firm, LLC, represents the Debtor as bankruptcy counsel. Village Bank & Trust, N.A., as secured lender, is represented by: Jeffrey S. Burns, Esq. Markoff Leinberger, LLC 200 S. Wacker Drive, FL 31 Chicago, IL 60606 Tel: (312) 589-7600 jeff@markleinlaw.com MAYFAIR-HABITAT GROUP: Hires EXp Realty LLC as Real Estate Agent ---------------------------------------------------------------- The Mayfair-Habitat Group Incorporated seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ India Carlisle of EXp Realty LLC as real estate agent/broker. The firm will market for sale the thirty-one condominium units located at 7337 S Shore Drive, Chicago, Carlisle will be compensated 3 percent of the purchase price if the thirty-one units successfully go under contract and successfully closes. Ms. Carlisle assured the court that she is a "disinterested person" as defined in 11 U.S.C. Sec. 101(14) of the Bankruptcy Code. The firm can be reached through: India Carsile Carsile of EXp Realty LLC 939 W North Avenue Suite 750 Chicago, IL 60642 Tel: (888) 574-9405 About The Mayfair-Habitat Group Incorporated The Mayfair-Habitat Group Incorporated is a property management and real estate investment company based in Plainfield, Illinois. The Debtor's principal assets are located at 7337 S. South Shore Drive, Chicago, IL 60649, and consist of 31 parcels of land. The Mayfair-Habitat Group Incorporated sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-06308) on April 24, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Jacqueline P. Cox handles the case. The Debtor is represented by Paul M. Bach, Esq. at BACH LAW OFFICES. MEANDERING BEND: Section 341(a) Meeting of Creditors on September 2 ------------------------------------------------------------------- On August 5, 2025, Meandering Bend LLC filed Chapter 11 protection in the Western 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. A meeting of creditors under Section 341(a) to be held on September 2, 2025 at 10:00 AM via Via Phone: (866)909-2905; Code: 5519921#. About Meandering Bend LLC Meandering Bend LLC is a real estate investment company based in Austin, Texas. Meandering Bend LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51814) on August 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Craig A. Gargotta handles the case. The Debtor is represented by Justin Rayome, Esq. at 5882 Sugar Hill Dr. MEATHEADZ LLC: Seeks to Hire Ajay Kumar, CPA as Accountant ---------------------------------------------------------- Meatheadz, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Ajay Kumar, CPA as accountant. The accountant will provide bookkeeping and accounting services including assisting with preparation of operating reports. The firm will receive $400 per month for booking services. The estimated charge to prepare annual tax return of $1200. The accountant can be reached at: Ajay Kumar, CPA 5 Villa Farms Circle Monore Township, NJ 08831 Phone: (908) 380-8900 Email: akumar@saicpaservices.com About Meatheadz LLC Meatheadz, LLC is a food service business located in Lawrence Township, N.J. Meatheadz sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-15120) on May 13, 2025. In its petition, the Debtor reported estimated assets between $50,000 and $100,000 and estimated liabilities between $500,000 and $1 million. Judge Christine M. Gravelle handles the case. The Debtor is represented by Joseph Casello, Esq., at Collins, Vella & Casello. MEMPHIS MADE: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Memphis Made Brewing Company LLC 435 Madison Ave., Ste. 100 Memphis, TN 38103 Case No.: 25-23931 Business Description: Memphis Made Brewing Company LLC operates a small-batch craft brewery and taproom in downtown Memphis, Tennessee. The Company produces a variety of beers that are distributed locally to restaurants, bars, and retail establishments across the Memphis area. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court Western District of Tennessee Judge: Hon. M Ruthie Hagan Debtor's Counsel: Toni Campbell Parker, Esq. LAW FIRM OF TONI CAMPBELL PARKER 45 N. BB KIng Blvd., Ste. 201 Memphis, TN 38103 Tel: 901-483-1020 Fax: 866-489-7938 Email: tparker002@att.net Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Andrew Ashby as vice president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/E4NN76I/Memphis_Made_Brewing_Company_LLC__tnwbke-25-23931__0001.0.pdf?mcid=tGE4TAMA MERIT STREET: Professional Bull Riders Out as Committee Member -------------------------------------------------------------- The U.S. Trustee for Region 6 disclosed in a notice filed with the U.S. Bankruptcy Court for the Northern District of Texas that as of August 6, these creditors are the remaining members of the official committee of unsecured creditors in Merit Street Media Inc.'s Chapter 11 case: 1. Darcy Lynn Ribman Trustee Darcy Lynn Ribman 1997 Trust Dallas, TX 75201 (214) 356-2270 dribman@gmail.com 2. Steven Borden President Borden Media Consulting, LLC P.O. Box 492165 Los Angeles, CA 90049 (310) 268-1100 Steven.borden@bordenmedia.com Professional Bull Riders, LLC was previously identified as member of the creditors committee. Its name no longer appears in the new notice. About Merit Street Media Merit Street Media is a television and media content production and distribution company based in Fort Worth, Texas. It appears to focus on creating, producing, and distributing television content, maintaining business relationships with major cable providers including DIRECTV and DISH Network, as well as numerous television stations and production companies. Merit Street Media sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-80156) on July 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. The Debtor is represented by Sidley Austin LLP. The U.S. Trustee for Region 6 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Peteski Productions, Inc., as DIP lender, is represented by: Carl C. Butzer, Esq. Vienna F. Anaya, Esq. William T. Farmer, Esq. Jackson Walker L.L.P. 2323 Ross Avenue, Suite 600 Dallas, TX 75201 Telephone: (214) 953-6000 cbutzer@jw.com vanaya@jw.com wfarmer@jw.com -- and -- Charles L. Babcock, Esq. Bruce Ruzinsky, Esq. Matthew D. Cavenaugh, Esq. Emily Meraia, Esq. Jackson Walker L.L.P. 1401 McKinney Street, Suite 1900 Houston, Texas 77010 Telephone: (713) 752-4200 cbabcock@jw.com bruzinsky@jw.com mcavenaugh@jw.com emeraia@jw.com MERIT STREET: Trinity Network Seeks Dismissal of Venture Lawsuit ---------------------------------------------------------------- James Nani of Bloomberg Law reports that Christian broadcaster Trinity Broadcasting Network has asked the U.S. Bankruptcy Court in Texas to dismiss a lawsuit filed by Dr. Phil McGraw's bankrupt media venture, Merit Street Media Inc., over alleged breaches of production commitments. In a motion filed Thursday, August 7, 2025, Trinity Broadcasting of Texas Inc. argued that Merit's Chapter 11 filing and its contract claims lacked proper corporate authorization and that the breach allegations are unenforceable. Merit filed for bankruptcy in Dallas on July 2, 2025. About Merit Street Media Merit Street Media is a television and media content production and distribution company based in Fort Worth, Texas. It appears to focus on creating, producing, and distributing television content, maintaining business relationships with major cable providers including DIRECTV and DISH Network, as well as numerous television stations and production companies. Merit Street Media sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-80156) on July 2, 2025, before the Hon. Scott W. Everett. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. The Debtor is represented by Sidley Austin LLP as bankruptcy counsel. Epiq Corporate Restructuring, LLC serves as Claims, Noticing, and Solicitation Agent, effective as of the Petition Date. MICHAEL E JONES MD: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Michael E Jones MD PC 115 East 39th Street New York NY 10016 Business Description: Michael E Jones MD PC provides cosmetic and reconstructive surgery services from its main facility in New York, New York. The practice offers procedures such as rhinoplasty, liposuction, Brazilian Butt Lift, and keloid removal, with a focus on serving diverse patient populations. It is led by Dr. Michael E. Jones, who is board- certified in facial plastic and reconstructive surgery as well as otolaryngology. The company operates additional offices in several U.S. cities including Los Angeles, Atlanta, and Miami. Chapter 11 Petition Date: August 7, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-11745 Judge: Hon. Lisa G Beckerman Debtor's Counsel: Anthony Vassallo, Esq. LAW OFFICE OF ANTHONY M. VASSALLO 276 Fifth Avenue Suite 704 New York NY 10001 Tel: 917-862-1936 Email: tony@amvasslaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million 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/5T7JLJY/Michael_E_Jones_MD_PC__nysbke-25-11745__0001.0.pdf?mcid=tGE4TAMA MODEL TOBACCO: Gets Final OK to Use Cash Collateral Until Dec. 31 ----------------------------------------------------------------- Lynn Tavenner, the Chapter 11 trustee for Model Tobacco Development Group, LLC, received final approval from the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, to use cash collateral. The final order authorized the trustee to use cash collateral from August 1 to December 31 in accordance with its budget. Model Tobacco Development Group was ordered to make a monthly payment of $150,000 to the Virginia Housing Development Authority to protect the lender's interest in its collateral. VHDA holds a first-priority lien on nearly all of the Debtor's assets and a claim exceeding $37 million. As additional protection, the lender was granted a replacement lien on all post-petition assets of the Debtor and their proceeds, to the same extent and with the same priority as its pre-bankruptcy lien. The order provides for a carveout from the replacement liens for certain fees and expenses, including fees required to be paid to the Clerk of the Bankruptcy Court and to the Office of the United States Trustee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/yzat6 from PacerMonitor.com. About Model Tobacco Development Group Model Tobacco Development Group, LLC is engaged in activities related to real estate. Model Tobacco Development Group filed Chapter 11 petition (Bankr. E.D. Va. Case No. 24-34863) on December 31, 2024, with assets between $50 million and $100 million and liabilities between $10 million and $50 million. The Debtor is represented by: Justin P. Fasano, Esq. Mcnamee Hosea, P.A. 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Tel: 301-441-2420 Fax: 301-982-9450 Email: jfasano@mhlawyers.com MODERN FLOOR: Seeks Chapter 11 Bankruptcy in California ------------------------------------------------------- On August 5, 2025, Modern Floor Specialists Inc. filed Chapter 11 protection in 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 not be available to unsecured creditors. About Modern Floor Specialists Inc. Modern Floor Specialists Inc. provides floor maintenance services including cleaning, polishing, and waxing. Modern Floor Specialists Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-16762) on August 5, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Deborah J. Saltzman handles the case. The Debtor is represented by Joshua E. Matic, Esq. at MATIC LAW ASSOCIATES. MOLINA VENTURES: Section 341(a) Meeting of Creditors on Sept. 11 ---------------------------------------------------------------- On August 4, 2025, Molina Ventures LLC filed Chapter 11 protection in the Western District of Texas. According to court filing, the Debtor reports $2,096,654 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) set for September 11, 2025 at 10:00 AM via Via Phone: (866)909-2905; Code: 5519921#. About Molina Ventures LLC Molina Ventures LLC, doing business as American Air Conditioning & Heating Co., provides heating, ventilation, and air conditioning services to residential and commercial clients in the San Antonio, Texas area. Molina Ventures LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51802) on August 4, 2025. In its petition, the Debtor reports total assets of $726,079 and total liabilities of $2,096,654. Honorable Bankruptcy Judge Craig A. Gargotta handles the case. The Debtor is represented by Paul Steven Hacker, Esq. at HACKER LAW FIRM, PLLC. MOM CA: Final Hearing to Use Cash Collateral Set for Aug. 14 ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware is set to hold a hearing on August 14 to consider final approval of the motion filed by MOM CA Investco, LLC and its affiliates to use cash collateral. The Debtor's authority to access cash collateral pursuant to the court's 10th interim order expires on August 14. The 10th interim order issued by Judge Brendan Linehan Shannon on July 31 approved the Debtors' post-petition use of cash collateral to pay the expenses set forth in its budget, with a 25% variance limit per week. The interim order granted lenders replacement liens on, and security interests in, all assets of the Debtors, with the same validity, priority and extent as their pre-bankruptcy liens. The liens and security interests granted under the 10th interim order shall not effect any cross-collateralization in favor of any lenders unless and only to the extent that such lenders held a loan that was cross-collateralized as of the petition date. These liens and security interests are subject and subordinate to the fee carveout, according to the 10th interim order. Enterprise Bank & Trust, PMF CA REIT, LLC, Lone Oak Fund, LLC, Wilshire Quinn Income Fund, LLC, Preferred Bank, and Banc of California are the lenders with interests in the cash collateral. A copy of the 10th interim order is available at https://is.gd/nys2Gy About MOM CA Investco LLC MOM CA Investco LLC and affiliates constitute a real estate joint venture comprised of a portfolio of commercial properties owned by the Debtors. The properties that make up the portfolio include hotels, an apartment complex, office buildings, other commercial real estate, and individual homes used as luxury vacation rentals. The Debtors have requested joint administration of their Chapter 11 cases under lead Case No. 25-10321 (Bankr. D. Del. in MOM CA Investco LLC). In the petition signed by Mark Shinderman, chief restructuring officer, the Debor disclosed up to $500 million in both assets and liabilities. Judge Brendan Linehan Shannon oversees the case. The Debtors tapped Buchalter, A Professional Corporation as lead bankruptcy counsel; Potter Anderson & Corroon, LLP as bankruptcy co-counsel; and FTI Consulting, Inc. as restructuring advisor. Banc of California, as lender, is represented by: Richard M. Pachulski, Esq. Ira D. Kharasch, Esq. James E. O'Neill, Esq. Edward A. Corma, Esq. Pachulski Stang Ziehl & Jones, LLP 919 North Market Street, 17th Floor Wilmington, Delaware 19801 Telephone: (302) 652-4100 Facsimile: (302) 652-4400 joneill@pszjlaw.com ecorma@pszjlaw.com Enterprise Bank & Trust, as lender, is represented by: Eric M. Sutty, Esq. Armstrong Teasdale LLP 1007 North Market Street, Third Floor Wilmington, DE 19801 Telephone: (302) 416.9670 Facsimile: (302) 397.2527 esutty@atllp.com -- and -- David L. Going, Esq. Armstrong Teasdale LLP 7700 Forsyth Blvd., Suite 1800 St. Louis, MO 63105 Telephone: (314) 621.5070 Facsimile: (314) 621.2250 dgoing@atllp.com PMF CA REIT, LLC, as lender, is represented by: Ann M. Kashishian (No. 5622) Lewis Brisbois Bisgaard & Smith, LLP 500 Delaware Ave., Suite 700 Wilmington, DE 19801 Telephone: (302) 985-6000 Facsimile: ann.kashishian@lewisbrisbois.com -- and -- Jennifer R. Tullius, Esq. Tullius Law Group 515 S. Flower Street, 18th Floor Los Angeles, CA 90071 Phone: 213-291-9481 jtullius@tulliuslaw.com Preferred Bank, as lender, is represented by: Michael Busenkell, Esq. Ronald S. Gellert, Esq. Gellert Seitz Busenkell & Brown LLC 1201 N. Orange Street, Suite 300 Wilmington, DE 19801 Telephone: (302) 425- 5800 Facsimile: (302) 425-5814 mbusenkell@gsbblaw.com rgellert@gsbblaw.com Wilshire Quinn Income Fund, as lender, is represented by: Catherine Di Lorenzo, Esq. Daire Pyle, Esq. Stern & Eisenberg, PC 200 Biddle Avenue, Suite 107 Newark, DE 19702 Telephone: (302) 731-7200 DE_Foreclosure@sterneisenberg.com MOSAIC SUSTAINABLE: Files Amendment to Disclosure Statement ----------------------------------------------------------- Mosaic Sustainable Finance Corporation and its affiliates submitted a Disclosure Statement for the Amended Joint Chapter 11 Plan dated July 30, 2025. Among other features, the Plan contains a Third Party Release, which is set forth in Article XII thereof and addressed in detail in Section 12.3 infra, and by which all parties holding claims against or interests in the Debtors will be bound unless each elects to make the Third Party Release Opt-Out Election. The Debtors are pursuing, on parallel paths, both the Plan Equitization Transaction and the Sale Transaction. The Restructuring Transactions contemplated in the Plan include four toggle scenarios for a path forward: (i) a sale of all Debtors' assets (i.e., both Servicing Business and Origination Business); (ii) the separate sale of just the Servicing Business, for cash to a third party or by credit bid to the Prepetition Secured Lenders; (iii) conversion of the debt of the DIP Lenders and Prepetition Secured Lenders into preferred and common equity in the Reorganized Debtors under the Plan; or (iv) an alternative plan sponsored and funded by a third party. The Bidding Procedures Order provided that, if the Debtors did not timely receive a bid for the purchase of all or substantially all of their assets or an alternative plan proposal, in accordance with the terms and conditions set forth in the Bidding Procedures Order on or before July 28, 2025, they will consummate the Plan Equitization Transaction. Generally, to the extent the Restructuring Transactions are consummated through the Plan Equitization Transaction: * 90% of the DIP Claims will be equitized into 100% of the Reorganized Preferred Equity, with the DIP Lenders receiving Litigation Trust Interests in accordance with the distribution priority set forth in the Litigation Trust Agreement, in an amount equal to 10% of the DIP Claims; * 90% of Prepetition First Out Claims will be equitized into 100% of Reorganized Common Equity (subject to dilution); with Holders of Prepetition First Out Claims receiving Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement, in an amount equal to 10% of the Prepetition First Out Claims; * Holders of Prepetition Last Out Claims will receive (A) the share allocable to such Prepetition Last Out Claim under the AAL of 100% of the Reorganized Common Equity, allocated, in the first instance, to the Holders of Prepetition First Out Claims; and (B) Litigation Trust Interests, if any, in accordance with the terms of the AAL and distribution priorities set forth in the Litigation Trust Agreement. * Allowed General Unsecured Claims will be satisfied by (A) the greater of (x) the recovery such claimant would be entitled to receive under section 1129(a)(7) of the Bankruptcy Code; and (y) its pro rata share of the GUC Recovery Pool allocable to the applicable Debtors; and (B) Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement, in each case up to the Allowed Amount of such Allowed General Unsecured Claim; and * Intercompany Claims between and among Topco and any of its direct or indirect subsidiaries will either be extinguished, canceled, and/or discharged on the Effective Date or be reinstated; In the alternative, to the extent the Restructuring Transactions are consummated through the Sale Transaction: * DIP Claims will be paid in full in Cash from Sale Proceeds; * Prepetition First Out Claims will be paid in full, in Cash; provided, that, if proceeds from a Sale Transaction are insufficient for payment in full, in cash, on account of the Allowed Prepetition First Out Claims, (A) payment, in Cash to the extent of available Cash, on account of its Allowed Prepetition First Out Claim, and (B) Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement; * Prepetition Last Out Claims will receive payment in Cash on account of its Allowed Prepetition Last Out Claim, to the extent that the Prepetition Last Out Lenders are entitled to such proceeds pursuant to the terms of the AAL; * Allowed General Unsecured Claims will be satisfied by (A) a pro rata share of the General Unsecured Claims Distribution; and (B) Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement. If the Sale Transaction does not result in a General Unsecured Claims Distribution Allowed General Unsecured Claims will be satisfied by Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement; and * Intercompany Claims between and among any Debtors whose equity is not purchased by the Successful Bidder will, at the option of the Debtors, either be extinguished, canceled and/or discharged on the Effective Date or be reinstated. Under both the Plan Equitization Transaction and the Sale Transaction, Priority Non-Tax Claims and Other Secured Claims are unimpaired and deemed to accept the Plan. Likewise, Administrative Expense Claims, Fee Claims, US Trustee Fees, and Priority Tax Claims shall be paid in full in Cash on the Effective Date or thereafter as described in Article III of the Plan. Class 5 consists of General Unsecured Claims. In full and final satisfaction, compromise, settlement, release, and discharge of each Allowed General Unsecured Claim against the Debtors, on the Effective Date, each Holder of an Allowed General Unsecured Claim against the Debtors shall receive: * in the event the Restructuring Transactions are consummated through the Plan Equitization Transaction, (A) the greater of (x) the recovery such claimant would be entitled to receive under section 1129(a)(7) of the Bankruptcy Code, and (y) its pro rata share of the GUC Recovery Pool allocable to the applicable Debtors; and (B) Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement, in each case up to the Allowed Amount of such Allowed General Unsecured Claim, but excluding, for the avoidance of doubt, any Litigation Trust Interests constituting proceeds of Consumer Credit Transaction Claims; or * in the event the Restructuring Transactions are consummated through the Sale Transaction, (A) its pro rata share of the General Unsecured Claims Distribution, if any, allocable to the applicable Debtors, if any and (B) Litigation Trust Interests, in accordance with the distribution priorities set forth in the Litigation Trust Agreement, in each case up to the Allowed Amount of such Allowed General Unsecured Claim, but excluding, for the avoidance of doubt, any Litigation Trust Interests constituting proceeds of Consumer Credit Transaction Claims. A full-text copy of the Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=kTArnu from PacerMonitor.com at no charge. Counsel to the Debtors: PAUL HASTINGS LLP Charles Persons, Esq. Schlea Thomas, Esq. 609 Main Street, Suite 2500 Houston, Texas 77002 Telephone: (713) 860-7300 Facsimile: (713) 353-3100 Email: charlespersons@paulhastings.com schleathomas@paulhasti PAUL HASTINGS LLP Matthew M. Murphy, Esq. Geoffrey M. King, Esq. Michael Jones, Esq. 71 South Wacker Drive, Suite 4500 Chicago, Illinois 60606 Telephone: (312) 499-6000 Facsimile: (312) 499-6100 Email: mattmurphy@paulhastings.com geoffreyking@paulhastings.com michaeljones@paulhasting About Mosaic Sustainable Finance Mosaic Sustainable Finance Corporation sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90156) on June 6, 2025, with $1,000,000,001 to $10 billion in assets and liabilities. Judge Christopher M. Lopez presides over the case. Charles Martin Persons, Esq., at Paul Hastings LLP, represents the Debtor as legal counsel. MP COMPLETE: Seeks Chapter 11 Bankruptcy in Florida --------------------------------------------------- On August 6, 2025, MP Complete Solutions LLC filed Chapter 11 protection in the Southern District of Florida. According to court filing, the Debtor reports $1,511,660 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About MP Complete Solutions LLC MP Complete Solutions LLC owns the property located at 3900 SW 56th St, in Fort Lauderdale, Florida with an appraised value of $1.09 million. MP Complete Solutions LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-19098) on August 6, 2025. In its petition, the Debtor reports total assets of $1,107,677 and total liabilities of $1,511,660. Honorable Bankruptcy Judge Peter D. Russin handles the case. The Debtor is represented by Adam I. Skolnik, Esq. at LAW OFFICE OF ADAM I. SKOLNIK, PA. NATIONAL FOOD: Seeks to Hire Patrick J. Gros CPA as Accountant -------------------------------------------------------------- National Food & Beverage Foundation seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Patrick J. Gros, CPA, as accountant. The firm will assist the Debtor in the preparation and filing of the tax returns, as well as assist in the analysis o1f various financial documents and the handling of other accounting duties in this case. The firm will be paid at these rates: Partner $275 per hour Manager $175 per hour Senior $150 per hour Staff $105 per hour Patrick J. Gros, CPA, a President at Patrick J. Gros, CPA, 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: Patrick J. Gros Patrick J. Gros, CPA 651 River Hignlands Boulevard Covington, LA 70433 Tel: (985) 898-3512 Email: info@PJGrosCPA.com About National Food & Beverage Foundation National Food & Beverage Foundation, d/b/a Southern Food and Beverage Museum, based in New Orleans, is a nonprofit organization focused on the study and celebration of food, drink, and related cultural traditions in America and globally. Its Southern Food and Beverage Museum houses multiple entities, including the Museum of the American Cocktail, SoFAB Research Center, and Deelightful Roux School of Cooking, among others, and serves as a versatile event venue. National Food & Beverage Foundation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. La. Case No. 25-10974) on May 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtors are represented by Leo D. Congeni, Esq. at CONGENI LAW FIRM, LLC. NAUTICA'S EDGE: Taps Virtual Properties Realty.Biz as Estate Broker ------------------------------------------------------------------- Nautica's Edge, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Virtual Properties Plus LLC, also known as Virtual Properties Realty.Biz, as real estate broker. The firm will provide these services: (a) inspect the Debtor's properties and furnish it with an estimate of the value of those assets; (b) market the Debtor's properties for sale; (c) assist with facilitating the closing of any court approved sale of the Debtor's properties; and (d) perform such additional work as may be required based upon the firm's analysis of Debtor's properties and which would be in the ordinary course of services performed by a broker. The real estate broker will receive a 5 percent commission of the sale price. Jamie Mertz, a principal at Virtual Properties Realty.Biz, 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: Jamie Mertz Virtual Properties Realty.Biz 2750 Premiere Pkwy., Suite 200 Duluth, GA 30097 About Nautica's Edge LLC Nautica's Edge LLC owns two properties in Atlanta, Georgia. The first is a rental home at 6550 Powers Ferry Rd NW, with an estimated value of $915,000. The second is a 3.52-acre undeveloped parcel at 6500 Powers Ferry Rd NW, valued at around $750,000. Nautica's Edge LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-54710) on April 29, 2025. In its petition, the Debtor reports total assets of $1,670,000 and total liabilities of $505,000. The Debtor is represented by Michael D. Robl, Esq. at Robl & Bowen LLC. NEAR INTELLIGENCE: Former Execs Accused in $25MM Fraud ------------------------------------------------------ Pete Brush of Law360 Bankruptcy Authority reports that an indictment unsealed Thursday, August 7, 2025, in Manhattan federal court accuses two executives of bankrupt California data company Near Intelligence Inc. and a third executive from advertising firm MobileFuse LLC of conspiring to fraudulently inflate Near's revenues by $25 million. About Near Intelligence Near Intelligence Inc. -- https://www.near.com -- publicly traded software firm that provides data insights to major companies including Wendy's Co. and Ford Motor Co. Near is a global, privacy-led data intelligence platform curates one of the world's largest sources of intelligence on people and places. Near's patented technology analyzes data to deliver insights on approximately 1.6 billion unique user IDs across 70 million points of interest in more than 44 countries. With a presence in Pasadena, San Francisco, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near serves enterprises in a diverse spectrum of industries including retail, real estate, restaurant, travel/tourism, telecom, media, and more. Near Intelligence Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11962) on Dec. 8, 2023. In the petition filed by CFO John Faieta, the Debtor estimated assets between $50 million and $100 million and liabilities between $100 million and $500 million. Near is represented by Willkie Farr & Gallagher LLP and Young Conway Stargatt & Taylor, LLP, as counsel, Ernst & Young LLP as restructuring advisor and GLC Advisors & Co., LLC, as restructuring investment banker. Kroll is the claims agent. Blue Torch, as DIP Agent and Lender, is represented by MORRIS, NICHOLS, ARSHT & TUNNELL LLP (Robert J. Dehney, Matthew Harvey, Brenna Dolphin); and KING & SPALDING LLP (Geoffrey M. King, Roger G. Schwartz, Miguel Cadavid). NEDDY LLC: Court Extends Cash Collateral Access to Sept. 30 ----------------------------------------------------------- Neddy LLC received another extension from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral to fund operations. The court's third amended stipulated order extended the Debtor's authority to use cash collateral through September 30 or until a confirmed plan becomes effective. As adequate protection, The Huntington Bank will continue to receive monthly payments of $7,500, plus all interest on the Huntington line of credit. In addition, the bank was granted replacement liens on its pre-bankruptcy collateral and the proceeds thereof, with the same priority and extent as its pre-bankruptcy liens. About Neddy LLC Neddy LLC, operating as Fortress Asphalt, is a construction company based in Peoria, Ariz. Neddy filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 25-01459) on February 22, 2025, listing between $500,000 and $1 million in assets and between $1 million and $10 million in liabilities. Judge Brenda K. Martin handles the case. The Debtor is represented by Alan A. Meda, Esq., at Burch & Cracchiolo, PA. The Huntington Bank, as secured creditor, is represented by: Nicholas S. Bauman, Esq. Womble Bond Dickinson (US) LLP Tel: +1 602.262.5746 Nick.Bauman@wbd-us.com NEW REDBIRD: Seeks Chapter 11 Bankruptcy in Oklahoma ---------------------------------------------------- On August 5, 2025, New Redbird Business Group LLC filed Chapter 11 protection in the Eastern District of Oklahoma. 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 not be available to unsecured creditors. About New Redbird Business Group LLC New Redbird Business Group LLC is a holding company that owns and manages interests in cannabis-related operations in Oklahoma. Its portfolio includes Redbird Bioscience, which provides consulting services, and RB RealtyCo, which owns the real estate used in the business. The Company's affiliated entities are involved in medical marijuana cultivation, processing, and retail sales. New Redbird Business Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Okla. Case No. 25-80714) on August 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Paul R. Thomas handles the case. The Debtor is represented by Joe Byars, Esq. at HELTON LAW FIRM. ORB ENERGY: Seeks Chapter 11 Bankruptcy in Texas ------------------------------------------------ On August 5, 2025, ORB Energy Co. filed Chapter 11 protection in the Southern District of Texas. 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 ORB Energy Co. ORB Energy Co. is engaged in the business of mining Bitcoin. The Company was formed to develop a bespoke data center using proprietary infrastructure compatible only with Bitmain Technologies' equipment, following a term sheet agreement that positioned it as a designated "Bitmain Host." ORB Energy operates from a rural property where it invested in electrical and operational infrastructure to support large-scale Bitcoin mining. ORB Energy Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-80363) on August 5, 2025. In its petition, the Debtor reports total assets of $70,320,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Steven Shurn, Esq. at HUGHES WATTERS ASKANASE LLP. OSTENDO TECHNOLOGIES: Hires Sherwood as Restructuring Advisor ------------------------------------------------------------- Ostendo Technologies, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Sherwood Partners, Inc. as restructuring advisor. The firm will provide Andrew De Camara as chief restructuring officer (CRO) and certain additional personnel to the Debtor. The CRO and additional personnel will render these services: (a) provide guidance and management services with respect to the Debtor's Chapter 11 bankruptcy proceedings; (b) assist in the operation of the Debtor during its Chapter 11 bankruptcy proceedings; (c) initiate, prosecute, and/or maintain lawsuits that the CRO may believe to be necessary in order to preserve and/or maximize the value of Debtor's assets so as to improve returns for its creditors and shareholders; (d) communicate with employees, vendors and other key stakeholders; (e) communicate with the bankruptcy court and with U.S. Trustee's office on behalf of the Debtor as may be required; (f) assist in the preparation of schedules and statement of financial affairs; (g) assist in the preparation of monthly operating reports and other bankruptcy requirements; (h) prepare cash flow projections including debtor in possession budgets and declarations required for filing under the bankruptcy code, as appropriate; and (i) such other services as mutually agreed upon by the CRO, Sherwood and the Debtor. Intellectual Property and Other Assets Sales Services are the following: (a) market and sell substantially all of the Debtor's assets; (b) in regards to the intellectual property assets of the Debtor, Sherwood's efforts shall include: (i) work with the Debtor to create a list of assets to be sold, including the intellectual property assets; (ii) advise on the structure of a sale process; (iii) develop a target list of potential acquirers; (iv) work with the Debtor to prepare an offering memorandum, non-disclosure agreement and data room; (v) commence external outreach to the target list of potential acquirers; (vi) assist potential buyers with due diligence and formulation of offers; and (vii) work with the Debtor to assist in the closing of a sale transaction. The firm will be paid at these hourly rates: Andrew De Camara, CRO $715 Additional Personnel $450 - $675 In addition, the firm will seek reimbursement for expenses incurred. The firm will receive a $100,000 retainer from the Debtor, with $50,000 of such retainer to be allocated toward CRO/Financial Advisory Services and $50,000 of such retainer to be allocated toward intellectual property and other assets sale services. Mr. De Camara 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: Andrew De Camara Sherwood Partners, Inc. 3945 Freedom Cir. Santa Clara, CA 95054 Telephone: (650) 454-8001 About Ostendo Technologies Inc. Ostendo Technologies Inc. develops advanced display and imaging technologies, including micro-LED and quantum photonic imagers. The Company operates in the semiconductor sector and maintains facilities in California. Ostendo Technologies Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11111) on June 24, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. The Debtor tapped Ron Bender, Esq. at Levene, Neale, Bender, Yoo & Golubchik LLP as counsel and Sherwood Partners, Inc. as restructuring advisor. OUTER AISLE: Taps Winthrop Golubow Hollander as Insolvency Counsel ------------------------------------------------------------------ Outer Aisle Gourmet, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Winthrop Golubow Hollander, LLP as its general insolvency counsel. The firm will render these services: a. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; b. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor in regard to its assets and to the claims of its creditors; c. represent the Debtor in any proceedings or hearings in this Court and in any proceedings in any other court where the Debtor's rights under the Bankruptcy Code may be litigated or affected; d. conduct examinations of witnesses, claimants, or adverse parties and to prepare, and to assist the Debtor in the preparation of, reports, accounts, and pleadings related to the Debtor's case; e. advise the Debtor concerning the requirements of the Bankruptcy Court, the Federal Rules of Bankruptcy Procedure and the Local Bankruptcy Rules; f. file any motions, applications or other pleadings appropriate to effectuate the Debtor's reorganization; g. review claims filed in the Debtor's case, and, if appropriate, to prepare and file objections to disputed claims; h. assist the Debtor in the negotiation, formulation, confirmation, and implementation of its Chapter 11 plan; i. take such other action and perform such other services as the Debtor may require of the Firm in connection with its case; and j. address any other bankruptcy-related issues that may arise in the Debtor's case. The firm will be paid at these rates: Marc J. Winthrop $895 per hour Robert E. Opera $895 per hour Sean A. O'Keefe $895 per hour Richard H. Golubow $795 per hour Garrick A. Hollander $795 per hour Peter W. Lianides $795 per hour John D. Giampolo $695 per hour P.J. Marksbury $350 per hour Jeannie Martinez $295 per hour Sylvia Villegas $225 per hour The firm will be paid a retainer of $50,000. Garrick Hollander, Esq., a partner at Winthrop Golubow Hollander, 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: Garrick A. Hollander, Esq. Winthrop Golubow Hollander, LLP 1301 Dove Street, Suite 500 Newport Beach, CA 92660 Telephone: (949) 720-4100 Facsimile: (949) 720-4111 Email: ghollander@wghlawyers.com About Outer Aisle Gourmet LLC Outer Aisle Gourmet LLC is a Ventura-based specialty food manufacturer. Outer Aisle Gourmet LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10915-RC) on July 9, 2025. In its petition, the Debtor reports estimated assets between$100,000 and $500,000 and estimated liabilities between $10 million and $50 million. The Debtor is represented by Garrick A. Hollander at Winthrop Golubow Hollander, LLP. PALMAS ATHLETIC: Section 341(a) Meeting of Creditors on September 8 ------------------------------------------------------------------- On August 4, 2025, Palmas Athletic Club Corp. filed Chapter 11 protection in the District of Puerto Rico. According to court filing, the Debtor reports $36,514,983 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 September 8, 2025 at 10:00 AM via Telephonic Conference. About Palmas Athletic Club Corp. Palmas Athletic Club Corp. owns and operates a 420-acre recreational property within Palmas Del Mar Resort in Humacao, Puerto Rico. The site includes two 18-hole golf courses, a 22,200-square-foot clubhouse, a 5,600-square-foot beach clubhouse, and related facilities. Palmas Athletic Club Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03489) on August 4, 2025. In its petition, the Debtor reports total assets of $16,793,944 and total liabilities of $36,514,983. The Debtor is represented by Charles A. Cuprill Hernandez, Esq. at CHARLES A. CUPRILL, PSC, LAW OFFICES. The Debtor's Financial Consultant is CPA LUIS R. CARRASQUILLO & CO, PSC. PARLEMENT TECHNOLOGIES: Gets Chap. 11 Liquidation Plan Confirmation ------------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that on Thursday, August 7, 2025, a Delaware bankruptcy judge approved the Chapter 11 liquidation plan of the former owner of conservative social media platform Parler, following the debtor's resolution of an objection from its ousted CEO. About Parlement Technologies Inc. Parlement Technologies Inc., f/k/a Parler LLC and Parler Inc., is a technology services company in Nashville, Tenn., serving businesses and organizations of all sizes. Parlement Technologies filed a Chapter 11 petition (Bankr. D. Del. Case No. 24-10755) on April 15, 2024, listing up to $50 million in both assets and liabilities. Craig Jalbert, chief restructuring officer, signed the petition. Judge Craig T. Goldblatt oversees the case. Jeremy W. Ryan, Esq., at Potter Anderson & Corroon, LLP serves as the Debtor's bankruptcy counsel. PENNYMAC FINANCIAL: S&P Rates New $650MM Sr. Unsecured Notes 'B+' ----------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue rating and '3' recovery rating to PennyMac Financial Services Inc.'s (PFSI's; B+/Stable/--) proposed $650 million senior unsecured notes due 2034. The '3' recovery rating reflects our expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in a simulated default scenario. The company intends to use the net proceeds to repay its secured debt, including mortgage servicing rights (MSR) term loans, and for other general corporate purposes. PFSI's MSR portfolio reached $9.5 billion as of June 2025 from $7.9 billion a year prior, which supports the recovery rating on its unsecured notes. S&P views positively the company's efforts to be more reliant on unsecured funding, which unencumbers its balance sheet and lowers the margin call risk of its capital structure. As of June 30, 2025, the company's adjusted debt to rolling 12-month EBITDA (based on S&P Global Ratings' calculations) was 4.5x, within our base-case expectation of 4.0x-5.0x. The company's debt to tangible equity was 1.6x, which remained close to our 1.5x base-case expectation. S&P said, "The stable rating outlook on PFSI indicates our expectation that over the next 12 months, while the uncertain interest rate environment could delay the recovery of residential mortgage origination, the company will sustain adjusted debt to EBITDA at 4.0x-5.0x. We also expect debt to tangible equity to remain close to 1.5x on a sustained basis, and PFSI to maintain sufficient liquidity to meet operational needs." PHILLIPS TOTAL: Hires Carmichael & Quartemont as Counsel -------------------------------------------------------- Phillips Total Care Pharmacy, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ Carmichael & Quartemont, S.C. to handle the bankruptcy proceedings. Carmichael requests to be paid an hourly fee of $375. Carmichael & Quartemont does not hold or represent any interest adverse to the Debtor or its bankruptcy estate, its creditors, or any other party in interest and is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Jay S. Carmichael, Esq. Carmichael & Quartemont S C 916 Oak Ave. Tomah, WI 54660 Phone: (608) 372-3239 About Phillips Total Care Pharmacy, Inc. Phillips Total Care Pharmacy Inc. is a retail pharmacy based in Mauston, Wis. Phillips Total Care Pharmacy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-10699) on March 28, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. The Debtor is represented by Claire Ann Richman, Esq., and Michael P. Richman, Esq., at Richman & Richman, LLC. PLAZA UTILITIES: Seeks Chapter 11 Bankruptcy in Indiana ------------------------------------------------------- On August 4, 2025, Plaza Utilities LLC filed Chapter 11 protection in the Southern District of Indiana. According to court filing, the Debtor reports $795,249 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Plaza Utilities LLC Plaza Utilities LLC and affiliates are real estate entities that hold fee simple ownership of undeveloped commercial land in New Palestine, Indiana. The three companies own adjacent or nearby parcels along W US 52 and South 600 West, and are involved in property holding and potential development in the area. Plaza Utilities LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-04649) on August 4, 2025. In its petition, the Debtor reports estimated assets of $3,244,300 and estimated liabilities of $795,249. Honorable Bankruptcy Judge James M. Carr handles the case. The Debtor is represented byMatthew D Boruta, Esq. at MATTHEW D BORUTA. PORCELANATTO CORP: Seeks to Hire Mendez Law Offices as Counsel -------------------------------------------------------------- Porcelanatto Corp. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Mendez Law Offices PLLC as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties; (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 Chapter 11 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. The hourly rates of the firm's counsel and staff are: Attorney $450 Legal Assistant/Paralegal $150 The firm requires an initial fee of $15,000 from the Debtor. Diego Mendez, 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: Diego G. Mendez, Esq. Mendez Law Offices, PLLC P.O. Box 228630 Miami, FL 33178 Telephone: (305) 264-9090 Facsimile: (305) 264-9080 Email: diego.mendez@mendezlawoffices.com About Porcelanatto Corp. Porcelanatto Corp. is a Miami-based importer and distributor of porcelain and ceramic tiles. Porcelanatto Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-17669) on July 3, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. Judge Corali Lopez-Castro handles the case. The Debtor is represented by Diego Mendez, Esq., at Mendez Law Offices, PLLC. POSH QUARTERS: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Posh Quarters, LLC 478 S.E. 5th Avenue Melrose, FL 32666 Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-02748 Judge: Hon. Jason A Burgess Debtor's Counsel: Bryan K. Mickler, Esq. LAW OFFICES OF MICKLER & MICKLER, LLP 5452 Arlington Expy. Jacksonville FL 32211 E-mail: bkmickler@planlaw.com Total Assets: $1,178,812 Total Liabilities: $1,639,809 The petition was signed by Lisa Adams as manager. A list of the Debtor's 20 largest unsecured creditors was not provided alongside the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/Q4PHHDQ/Posh_Quarters_LLC__flmbke-25-02748__0001.0.pdf?mcid=tGE4TAMA POWIN LLC: Committee Taps Brown Rudnick LLP as Co-Counsel --------------------------------------------------------- The official committee of unsecured creditors of Powin, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Brown Rudnick LLP as co-counsel. The firm will provide these services: (a) assist, advise, and represent the committee in its meetings, consultations and negotiations with the Debtors and other parties in interest regarding the administration of these cases; (b) assist, advise, and represent the committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the committee; (c) assist the committee's review of the Debtors' Schedules of Assets and Liabilities, Statement of Financial Affairs and other financial reports prepared by or on behalf of the Debtors; (d) assist committee's investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and their affiliates; (e) assist and advise the committee regarding the identification and prosecution of estate claims and causes of action; (f) assist and advise the committee in its review and analysis of, and negotiations with the Debtors and any counterparties related to, any potential sale or restructuring transactions; (g) review and analyze all applications, motions, complaints, orders, and other pleadings filed with the court by the Debtors or third parties, and advise the committee as to their propriety and, after consultation with the committee, take any appropriate action; (h) prepare necessary legal papers on behalf of the committee, and pursue or participate in contested matters and adversary proceedings as may be necessary or appropriate in furtherance of the committee's duties, interest, and objectives; (i) represent committee at hearings held before the court and communicate with the committee regarding the issues raised, and the decisions of the court; (j) assist, advise and represent committee in connection with the review of filed proofs of claim and reconciliation of or objections to such proofs of claim and any claims estimation proceedings; (k) assist, advise and represent committee in its participation in the negotiation, formulation, and drafting of a plan of reorganization/liquidation; (l) assist, advise and represent the committee with respect to its communications with the general creditor body regarding significant matters in these cases; (m) respond to inquiries from individual creditors as to the status of, and developments in, these cases; and (n) provide such other services to the committee as may be necessary in these cases or any related proceedings. The firm's counsel and staff will be paid at these hourly rates: Partners $950 - $2,450 Counsel $445 - $1,290 Associates $685 - $1,015 Paralegals $400 - $550 In addition, the firm will seek reimbursement for expenses incurred. The following information is provided pursuant to paragraph D.1 of the U.S. Trustee Guidelines: 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 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. Response: No. QUESTION: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: The Committee will approve a budget and general staffing plan in connection with Brown Rudnick’s representation of the Committee. Bennett Silverberg, Esq., a partner at Brown Rudnick, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Bennett S. Silverberg, Esq. Brown Rudnick LLP One Financial Center Boston, MA 02111 Telephone: (617) 856-8586 About Powin LLC Powin, LLC is a manufacturer of utility-scale battery energy storage systems. It specializes in designing and manufacturing advanced energy storage solutions for utility, commercial, and industrial applications. Powin and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16137) on June 10, 2025. In its petition, Powin reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the cases. The Debtors tapped Togut, Segal & Segal LLP and Dentons US LLP as counsel and Huron Transaction Advisory LLC as investment banker. POWIN LLC: Committee Taps Genova Burns LLC as Local Co-Counsel -------------------------------------------------------------- The official committee of unsecured creditors of Powin, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Genova Burns LLC as its local co-counsel. The firm's services will include the filing of all pleadings, motions, responses, and all other filings the Committee deems necessary. Genova Burns' familiarity with local practice and procedure will aid the Committee with its charge of diligently representing the interests of general unsecured creditors. Genova Burns will participate in calls and meetings concerning strategy, status, process, and procedure, as well as provide meaningful insight into the local practices and preference of the court and its clerks. The firm's standard hourly rates are: Partners $500 to $950 Counsel $450 to $650 Of Counsel $500 to $700 Associates (1-3 years) $325 Associates (4-8 years) $375 Associates (9+ years) $425 Paralegals $275 The following information is provided pursuant to paragraph D.1 of the U.S. Trustee Guidelines: a. Genova Burns has assured the Committee that the rate structure provided by Genova Burns is not significantly different from the rates that (a) Genova Burns charges for other non-bankruptcy engagements. b. Genova Burns does not vary its rate based on geographic location. c. Genova Burns has not represented the Committee in the last 12 months. d. Genova Burns is formulating a monthly budget and staffing plan for the next few months of this case. Genova shall provide the Committee with an updated budget should the case and Committee needs change. Daniel Stolz, Esq., a partner at Genova Burns, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Daniel M. Stolz, Esq. Donald W. Clarke, Esq. Genova Burns LLC 110 Allen Road, Suite 304 Basking Ridge, NJ 07920 Email: (973) 467-2700 About Powin LLC Powin, LLC is a manufacturer of utility-scale battery energy storage systems. It specializes in designing and manufacturing advanced energy storage solutions for utility, commercial, and industrial applications. Powin and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16137) on June 10, 2025. In its petition, Powin reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the cases. The Debtors tapped Togut, Segal & Segal LLP and Dentons US LLP as counsel and Huron Transaction Advisory LLC as investment banker. POWIN LLC: Secures Court Approval for $54MM Asset Sales ------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that a New Jersey bankruptcy judge on Wednesday, August 6, 2025, signed off on the $54 million sale of Powin LLC's assets following a day of negotiations to address customer objections. About Powin LLC Powin, LLC is a manufacturer of utility-scale battery energy storage systems. It specializes in designing and manufacturing advanced energy storage solutions for utility, commercial, and industrial applications. Powin and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16137) on June 10, 2025. In its petition, Powin reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the cases. The Debtors tapped Togut, Segal & Segal LLP and Dentons US LLP as counsel and Huron Transaction Advisory LLC as investment banker. PPS PROPERTY 8-10: Taps Robert C. Nisenson as Bankruptcy Counsel ---------------------------------------------------------------- PPS Property 8-10 Sanford Ave., LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Robert C. Nisenson, LLC to handle its Chapter 11 bankruptcy proceedings. The Debtor will pay a retainer of $1,500 and $1,726 for filing fees and will be billed at the rate of $350 per hour. Robert C. Nisenson LLC is a disinterested person under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Robert C. Nisenson, Esq. ROBERT C. NISENSON, LLC 10 Auer Court East Brunswick, NJ 08816 Tel: (732) 238-8777 Email: r.nisenson@rcn-law.com About PPS Property 8-10 Sanford Ave., LLC PPS Property 8-10 Sanford Ave., LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 25-17193) on July 8, 2025, listing $100,001 to $500,000 in both assets and liabilities. Judge Vincent F Papalia handles the case. Robert C. Nisenson, Esq. at Robert C. Nisenson, LLC represents the Debtor as counsel. R.W. SIDLEY: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- The U.S. Trustee for Region 9 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of R.W. Sidley Inc. About R.W. Sidley Inc. R.W. Sidley Inc. is a construction materials company based in Thompson, Ohio. R.W. Sidley sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-12797) on July 2, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Honorable Bankruptcy Judge Jessica E. Price Smith handles the case. The Debtor is represented by Anthony J. DeGirolamo, Esq. RB BIOSCIENCE: Seeks Chapter 11 Bankruptcy in Oklahoma ------------------------------------------------------ On August 5, 2025, RB Bioscience Stilwell LLC filed Chapter 11 protection in the Eastern District of Oklahoma. 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 not be available to unsecured creditors. About RB Bioscience Stilwell LLC RB Bioscience Stilwell LLC operates as a medical cannabis processor and cultivator based in Stilwell, Oklahoma. The Company engages in the production and development of cannabis-based health products for the regulated medical market. RB Bioscience Stilwell LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Okla. Case No. 25-80716) on August 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million ech. The Debtor is represented by Joe Byars, Esq. at HELTON LAW FIRM. RCM LIVING ASSET: Section 341(a) Meeting of Creditors on Sept. 3 ---------------------------------------------------------------- On August 4, 2025, RCM Living Asset Management Services LLC filed Chapter 11 protection in the Middle District of Florida. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on September 3, 2025 at 11:00 AM. U.S. Trustee (Dorr) will hold the meeting telephonically. Call in Number: 888-330-1716. Passcode: 3989722#. About RCM Living Asset Management Services LLC RCM Living Asset Management Services LLC is a real estate holding company whose principal assets are located at East Zack Street and North Florida Avenue in Tampa, Florida. RCM Living Asset Management Services LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-05491) on August 4, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Roberta A. Colton handles the case. The Debtor is represented by Megan W. Murray, Esq. at UNDERWOOD MURRAY, P.A. RENT-A-CHRISTMAS LLC: Jolene Wee Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Jolene Wee of JW Infinity Consulting, LLC as Subchapter V trustee for Rent-A-Christmas LLC. Ms. Wee will be compensated at $640 per hour for work performed in 2025. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Wee declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jolene E. Wee JW Infinity Consulting, LLC 447 Broadway 2nd Fl #502 New York, NY 10013 Telephone: (929) 502-7715 Facsimile: (646) 810-3989 Email: jwee@jw-infinity.com About Rent-A-Christmas LLC Rent-A-Christmas, LLC is a seasonal decoration rental company specializing in Christmas trees, lights, and holiday displays for commercial and residential customers. Rent-A-Christmas sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22707) on July 29, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities $1 million and $10 million. The Debtor is represented by Julie Cvek Curley, Esq., at Kirby Aisner & Curley LLP. RITE AID: Selects Med Pharmacy as Buyer of Pharmacy Assets ---------------------------------------------------------- Alex Wittenberg of Law360 reports that Rite Aid has informed a New Jersey bankruptcy judge that it has chosen Med One Pharmacy Inc. to acquire its drug inventory, customer data, leases, and other assets, months after transferring millions of prescriptions and dozens of stores to CVS and other companies during its Chapter 11 proceedings. About Rite Aid Rite Aid is a full-service pharmacy committed to improving health outcomes. Rite Aid is defining the modern pharmacy by meeting customer needs with a wide range of solutions that offer convenience, including retail and delivery pharmacy, as well as services offered through the Company's wholly owned subsidiary Bartell Drugs. On the Web: http://www.riteaid.com/ Rite Aid and certain of its subsidiaries previously filed for chapter 11 bankruptcy in October 2023 and emerged from bankruptcy in August 2024. On May 5, 2025, New Rite Aid, LLC and its subsidiaries, including Rite Aid Corporation, commenced voluntary Chapter 11 proceedings (Bankr. D.N.J. Lead Case No. 25-14861). As of the 2025 bankruptcy filing date, Rite Aid operates 1,277 stores and 3 distribution centers in 15 states and employs approximately 24,500 people. Rite Aid is using the Chapter 11 process to pursue a sale of its prescriptions, pharmacy and front-end inventory, and other assets. The cases are being administered by the Honorable Michael B. Kaplan. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor, Guggenheim Securities, LLC is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to the Company. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to the Company. Kroll is the claims agent and maintains the page https://restructuring.ra.kroll.com/RiteAid2025 Bank of America, N.A., as DIP Agent, is represented by lawyers at Greenberg Traurig, LLP; and Choate Hall & Stewart LLP. ROOTED SUMMERVILLE: Seeks to Hire Tom Bible Law as Attorney ----------------------------------------------------------- Rooted Summerville, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire the Law Office of W. Thomas Bible, Jr. d/b/a Tom Bible Law as counsel. The firm will render these services: a. advise the applicants as to their rights, duties, and powers as debtors-in-possession; b. investigate and if necessary, institute legal action on behalf of the Debtor to collect and recover assets of the estate of the Debtor; c. prepare and file the statements, schedules, plans, and other documents and pleadings necessary to be filed by the applicants in this case; d. assist and counsel the Debtor in the preparation, presentation and confirmation of their disclosure statement and plan of reorganization; e. represent the Debtor at all hearings, meetings of creditors, conferences, trials, and other proceedings in this case; and f. perform such other legal services as may be necessary in connection with this case. The firm will be paid at these rates: Attorneys $375 per hour Paralegals $125 per hour The firm has already drawn down a total of $3,988 against the $11,738 retainer for the filing fee in the amount of $1,738, and prepetition fees related work completed in the amount of $3,988. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. W. Thomas Bible, Jr., Esq., a partner at Tom Bible Law, 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: W. Thomas Bible, Jr., Esq. Tom Bible Law 6918 Shallowford Road, Suite 100 Chattanooga, TN 37421 Tel: (423) 424-3116 Fax: (423) 553-0639 Email: tom@tombiblelaw.com About Rooted Summerville Rooted Summerville, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-11896) on July 25, 2025, with $0 to $50,000 in assets and $50,001 to $100,000. Judge Nicholas W. Whittenburg presides over the case. W. Thomas Bible, Jr., Esq. at the Law Office of W. Thomas Bible, Jr. represents the Debtor as legal counsel. ROSALIE WHITE: Leon Jones Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones & Walden, LLC, as Subchapter V trustee for Rosalie White Barnwell Real Estate Development. Mr. Jones will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Jones declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Leon S. Jones, Esq. Jones & Walden, LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 ljones@joneswalden.com About Rosalie White Barnwell Real Estate Rosalie White Barnwell Real Estate Development filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58849) on August 5, 2025, with $500,001 to $1 million in assets and liabilities. Judge Lisa Ritchey Craig presides over the case. Chauncey Napoleon Barnwell, Esq. at Brown Barnwell PC represents the Debtor as legal counsel. S&G HOSPITALITY: Court Extends Cash Collateral Access to Sept. 30 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division issued an agreed order authorizing S&G Hospitality, Inc. and affiliates to use cash collateral through September 30. The court order authorized the Debtors to use cash collateral in accordance with their budget, which shows $573,625.00 in total undistributed operating expenses. The budget reflects the Debtors making payment of $90,000 to RSS COMM2015-PC1-OH, BL, LLC as adequate protection for the use of its cash collateral. Of this amount, $17,673.40 is being escrowed for real property taxes and $8,277.39 for insurance while the balance will go towards RSS's obligations in accordance with the terms of their loan agreements. Any such internal allocation by RSS does not bind the court in determining the allowed amount of RSS's claim or the value of its collateral. Meanwhile, all payments made to the U.S. Small Business Association and Itria Ventures under the prior cash collateral orders will be subject to disgorgement if these creditors are later found to have no interest in the cash collateral. As additional protection for any diminution in the value of their interests in the Debtors' pre-bankruptcy assets, RSS COMM2015-PC1-OH, Itria and SBA will be granted a replacement lien on such assets as well as those assets acquired by the Debtors after the bankruptcy filing. This replacement lien will have the same validity, priority and extent as their pre-bankruptcy lien. The secured creditors are also entitled to a superpriority administrative expense claim. Events of default that will result in the termination of the Debtors' authority to use cash collateral include dismissal or conversion of the Debtors' bankruptcy cases; failure to pay RSS COMM2015-PC1-OH; unauthorized sales of the collateral, or violation of the budget. 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, 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 tkirby@porterwright.com S.E.E.K ARIZONA: Seeks to Tap Price Kong & Co. as Tax Professional ------------------------------------------------------------------ S.E.E.K. Arizona, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Price Kong, & Co., CPAs, PA as tax professional. The firm will prepare and file an Offer in Compromise - Effective Tax Administration to negotiate the civil tax penalties related to 2017 tax returns the Debtor filed late. The firm will be paid at these hourly rates: Controversy Specialist $250 - $595 Partners $400 - $450 Managers/Supervisors $215 - $325 Staff $140 - $175 In addition, the firm will seek reimbursement for expenses incurred. In June 16, 2025, the Debtor paid Price Kong $2,000 for its normal bookkeeping services which pursuant to the cash collateral budget on file with the court. Daniel Glasgow, a tax supervisor at Prince Kong, 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 Glasgow Price Kong, & Co., CPAs, PA 65 E. Missouri Ave. Phoenix, AZ 85012 Telephone: (602) 776-6300 About S.E.E.K. Arizona LLC S.E.E.K. Arizona LLC provides behavioral health services including Applied Behavior Analysis (ABA) and counseling for individuals of all ages. The Company operates in Arizona, with its primary facility located in Mesa. Its services focus on supporting clients in developing positive behavior, emotional regulation, and communication skills. S.E.E.K. Arizona LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-04625) on May 21, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $1 million and $10 million. The Debtor tapped LaShawn D. Jenkins, Esq., at Jenkins Law Firm, PLLC as counsel and Price Kong, & Co., CPAs, PA as tax professional. SALT LAKE CITY DISTILLERY: Seeks Cash Collateral Access ------------------------------------------------------- Salt Lake City Distillery, LLC asked the U.S. Bankruptcy Court for the District of Utah for final approval to use cash collateral. The Debtor needs to use cash on hand to cover essential operating expenses including payroll, rent, utilities, insurance, and other business costs based on the September to November budget. The Debtor also sought permission to exceed budgeted line items by up to 10% and to carry forward any savings from prior periods. This request involves five secured creditors -- Cache Valley Bank, Rotterdam Partners, Doyle Buchanan, Headway Capital, LLC, and Sterling Commercial Credit, LLC -- each holding interests in the Debtor's cash collateral. To protect their interests, the Debtor proposed to grant replacement liens on post-petition assets but only to the extent that the use of cash collateral causes a reduction in the value of their secured claims. The final hearing is scheduled for August 20. The Debtor was previously authorized to use $97,705.83 in cash collateral from July 31 to August 20 pursuant to the court's July 31 interim order. The interim order granted replacement liens to creditors holding valid and perfected interests in the cash collateral as of July 10. About Salt Lake City Distillery LLC Salt Lake City Distillery, LLC, operating as Dented Brick Distillery, is a Utah-based craft spirits producer located in Salt Lake City. It specializes in manufacturing alcoholic beverages, primarily focused on distilled spirits production. Salt Lake City Distillery sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-23944) on July 10, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Peggy Hunt handles the case. The Debtor is represented by Steven M. Rogers, Esq. at Rogers & Russell. Cache Valley Bank, as secured creditor, is represented by: Reid W. Lambert, Esq. Strong & Hanni, PC 102 South 200 East, Suite 800 Salt Lake City, UT 84111 Phone: 801-532-7080 Fax: (801) 596-1508 info@strongandhanni.com Rotterdam Partners, as secured creditor, is represented by: Brian M. Rothschild, Esq. Darren Neilson, Esq. Parsons Behle & Latimer 201 South Main Street, Suite 1800 Salt Lake City, UT 84111 Phone: 801.532.1234 Fax: 801.536.6111 BRothschild@parsonsbehle.com DNeilson@parsonsbehle.com ecf@parsonsbehle.com SAMYS OC: Seeks Approval to Hire Varney & Associates as Accountant ------------------------------------------------------------------ Samys OC LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Varney & Associates, CPAs, LLC as accountant. The firm will assist the Debtor in the preparation and filing of federal and state income tax returns, the preparation of financial statements, and general accounting consulting. The firm will be paid at these hourly rates: Partners $375 Manager $250 Professional Staff $225 Administrative Staff $125 Stacy Burkdoll, a certified public accountant at Varney & 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: Stacy Burkdoll, CPA Varney & Associates 1501 Pontz Ave. Manhattan, KS 66502 Telephone: (785) 537-2202 About Samys OC LLC Samys OC, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Kansas Case No. 24-11166) on Nov. 14, 2024, listing up to $50,000 in assets and $10 million to $50 million in liabilities. The petition was signed by Amro M. Samy as managing member. Judge Mitchell L. Herren presides over the case. The Debtor tapped Lora J. Smith, Esq., at Hinkle Law Firm as counsel and Varney & Associates, CPAs, LLC as accountant. SASAS HOSPITALITY: Cash Collateral Hearing Set for Aug. 13 ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois is set to hold a hearing on August 13 to consider another extension of SASAS Hospitality, LLC's authority to use cash collateral. The Debtor's authority to use cash collateral pursuant to the court's July 30 seventh interim order expires on August 14. The seventh interim order approved the payment of the Debtor's expenses from the cash collateral of its senior secured creditor, Albany Bank & Trust Company, N.A., in accordance with its budget. The seventh interim order granted Albany a valid, perfected and enforceable first-priority security interest in assets of the Debtor in which it held a security interest and lien as of the petition date, including, without limitation, cash resulting from the Debtor's operations. The Debtor owns and operates a hotel located at 5105 S. Howell Avenue, Milwaukee, Wisconsin. The Debtor asserts that the value of the hotel and real estate is in excess of $7 million. A lien exists for the property in favor of Albany, which has a loan with the Debtor with a balance of $4,765,754.43. About SASAS Hospitality LLC SASAS Hospitality, LLC is a hospitality company that owns a property at 5105 S Howell Ave, Milwaukee, Wis. SASAS Hospitality filed Chapter 11 petition (Bankr. N.D. Ga. Case No. 25-03643) on March 10, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Jacqueline P. Cox handles the case. Paul M. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. Albany Bank & Trust Company, as secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com SCANDIA SPA: Taps Coldwell Banker Residential Brokerage as Realtor ------------------------------------------------------------------ Scandia Spa Center for the Performing Arts, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Coldwell Banker Residential Brokerage as realtor. The realtor will market and sell the Debtor's property, located at 40 Martin Lane, Frankford Township, New Jersey. The realtor will receive a 5 percent commission of the property's sale price. If a buyer's broker or a transactional broker is involved, the buyer's broker or a transactional broker shall be entitled to a share of the compensation in the amount of 2.5 percent of the gross sale. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The realtor can be reached at: Coldwell Banker Residential Brokerage 450 Exchange Irvine, CA 92602 About Scandia Spa Center for the Performing Art Scandia Spa Center for the Performing Arts Inc. is a New Jersey corporation operating a combined spa facility and performing arts center in Newton, NJ. Scandia Spa Center for the Performing Arts Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-16960) on July 1, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. The Debtor is represented by Erin Kennedy, Esq., at Forman Holt. SEASONAL LANDSCAPE: Court Extends Cash Collateral Access to Aug. 31 ------------------------------------------------------------------- Seasonal Landscape Solutions, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The 15th interim order authorized the Debtor to use cash collateral in accordance with its budget, which projects total operational expenses of $425,146 from August 1 to 31. The Debtor is not allowed to make any payments or distributions other than the itemized projected disbursements set forth in the budget without the prior written consent of its pre-bankruptcy secured lender, BMO Harris Bank, N.A. BMO Harris Bank holds a senior lien on the Debtor's assets totaling at least $495,000, with a subordinate lien by the U.S. Small Business Administration. As adequate protection, BMO Harris Bank will be granted a replacement lien on the Debtor's assets, including accounts receivable, inventory, machinery and equipment, and the proceed thereof, with the same validity and extent as its pre-bankruptcy lien. In addition, BMO Harris Bank will be granted an administrative expense claim under Section 507(b) of the Bankruptcy Code. The next hearing is scheduled for August 27. BMO Harris Bank has a senior valid blanket lien on assets of the Debtor as of the petition date and the cash proceeds thereof. It holds a senior security interest in all the assets of the Debtor by way of a valid lien duly filed of which the amount due and owing totals no less than $495,000. About Seasonal Landscape Solutions Seasonal Landscape Solutions, Inc. is a company in Algonquin, Ill., which specializes in residential design-build landscaping. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-08880) on June 17, 2024, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Ira Bodenstein serves as Subchapter V trustee. Judge Janet S. Baer presides over the case. The Debtor is represented by Richard G. Larsen, Esq., at Springer Larsen Greene, LLC. SKY PROTOCOL: S&P Assigns 'B-' ICR, Outlook Stable -------------------------------------------------- S&P Global Ratings assigned its 'B-' issuer credit rating to Sky Protocol. The outlook is stable. Sky Protocol, previously known as Maker Protocol, is a decentralized lending protocol that issues a stablecoin, USDS, which exists in parallel with the existing DAI. It provides cryptocurrency-backed loans in USDS and a savings tool for USDS holders to earn yield. S&P said, "Our ratings on Sky Protocol are constrained by its high concentration of depositors, highly centralized governance, and weak risk-adjusted capitalization. Somewhat counteracting these weaknesses are the protocol's good track record of limited losses on cryptocurrency-backed loans and modest earnings (although we view earnings capacity as weak due to the protocol's reliance on less stable revenue influenced by cryptocurrency market cycles). "We believe that the protocol is also exposed to low-probability, high-severity cyber risks from the use of smart contracts to store assets. However, this risk is somewhat mitigated by its robust smart contract audits, bug bounty programs (that reward individuals for finding vulnerabilities in the smart contracts), and good track record of avoiding security breaches. "We evaluated Sky Protocol's credit quality by applying a "ratings to principles" approach, using our "Principles Of Credit Ratings,” Feb. 16, 2011; "Financial Institutions Rating Methodology,” Dec. 9, 2021; and other relevant criteria. "This is because we consider the risk factors that drive the protocol's default risk similar to those of a nonbank financial institution as described under these criteria (which focus on finance companies and securities firms). Specifically, we think the protocol's greatest risks also relate to asset quality, funding and liquidity, and tangible capital. "Nevertheless, we apply a ratings to principles approach because, in our opinion, Sky Protocol exhibits fundamental differences to traditional nonbank financial institutions that need to be incorporated into the rating." These include: -- Legal and regulatory risks from the uncertain status and treatment of decentralized finance (DeFi) protocols and decentralized autonomous organizations (DAOs) as governance structures; -- A novel governance structure; and -- Capital and liquidity risk management approaches designed to replicate the fundamental aspects of traditional lender risk management, but with novel tools and risk calibration considerations. S&P's rating does not address the value of the protocol's governance tokens (SKY and MKR), nor of more equity-like or loss-absorbing tokens such as srUSDS and yUSDS. Sky's business is narrowly focused on cryptocurrency-backed lending, with reliance on less stable revenue that is influenced by interest rates and cryptocurrency prices. Founded in 2017 and previously known as Maker, Sky is a decentralized lending protocol on the ethereum blockchain. (Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications and uses its native cryptocurrency, ether, for transactions and incentivizing network participants.) The protocol creates a stablecoin, USDS, when a borrower takes out a loan against collateral (mostly ether, the second largest cryptocurrency by market cap after bitcoin) based on the protocol's limit for each collateral type and collateralization requirements, or when a user wants to swap their USDC 1 to 1 through the peg stability module (PSM). The protocol also allows users to deposit USDS into savings vaults (akin to deposits) and receive savings tokens (sUSDS). USDS is the third-largest stablecoin, with a market cap of $7.7 billion, behind tether ($164 billion) and USDC ($64 billion). A significant portion of Sky's revenue includes interest income from lending activities and from its holdings of USDC or tokenized money market funds (MMFs). Its expenses include interest paid on USDS deposits and operational expenses allocated to contributors within the Sky ecosystem. The protocol sets borrowing and lending rates to influence the supply and demand of USDS. As a result, Sky's revenue is sensitive to volatility in interest rates set by the protocol and broader DeFi rates. Further, borrowing and lending activities typically decelerate during a downturn in crypto markets, which can hurt interest income on cryptocurrency-backed loans--Sky's largest revenue contributor. Governance control remains highly centralized, with the ultimate governance framework yet to be finalized and tested in practice. Although Sky's co-founder, Rune Christensen, controls only 9% of governance tokens, low voter turnout during key governance decisions means that he effectively controls Sky and is instrumental in pushing key governance decisions. There is also a high degree of concentration in the facilitator role. (Facilitators ensure that delegates responsible to make governance decisions are acting in alignment with protocol interests.) Low voter turnout also means that anyone can dominate the voting process by controlling more than Christensen's share. In February 2025, a voter acting in coordination with another party attempted to take over the control of Sky and derail its strategy. This was outvoted, although the founder had to borrow against his governance tokens from Sky. In S&P's view, the borrowings against the governance tokens could be risky, given assets may be liquidated, leading to a reduction in Christensen's control over the governance process. Overall, the incident highlights that while the governance framework is undergoing significant transition, there is a potential risk of strategic disruption from dissident voters. As part of its "Endgam" project, Sky is gradually transitioning to a new governance model. Upon reaching its intended end state, governance will be split between the Core DAO and Sub DAOs. The Core protocol will set the minimum capital requirements and governance standards for Sub DAOs. The Core DAO will approve and monitor Sub DAOs and eject any that fail to meet the requirements. Further, governance decisions at the Core protocol level will be voted on by a distributed group of token holders, and the facilitator role will be decentralized. As of July 31, 2025, there are two Sub DAOs, Spark (a DeFi lending platform) and Grove. Both are still governed at the Core DAO level, with the intent to transition to their own DAO governance model, although the timing remains uncertain. Spark represents the largest share of Sky's lending, with growth higher than the legacy core vaults (the distinction between core vaults and Spark stems from different liquidation mechanisms and risk parameters, such as overcollateralization levels). More recently, Sky announced Grove, which expects to deploy $1 billion in a tokenized version of Janus Henderson's AAA CLO fund. S&P said, "Our ratings incorporate our opinion of Sky's unique characteristics relative to more traditional rated peers. In fact, we assign Sky a 'bb' anchor (the starting point for the rating, derived from our economic and industry risk assessments as well as a subsector adjustment) that is lower than that of traditional nonbank financial institutions, based on a four-notch reduction from the U.S. bank anchor of 'bbb+'. The lower anchor reflects the uncertain regulatory position of DeFi lending protocols. "Although the Sky protocol is not an entity headquartered in a specific jurisdiction, we think it has meaningful economic and legal ties to the U.S. and the U.S. financial system. Its core mission is to support the USDS stablecoin. Sky does not commit to redeem USDS in U.S. dollars; rather, it offers a 1-to-1 exchange with another stablecoin, USDC (which is pegged to the U.S. dollar)." To achieve this, 35% of its assets as of July 27, 2025, are in "real world assets": U.S. Treasury bill exposures and USDC. S&P also considers that: -- USDC is issued by Circle, which is regulated in the U.S. at the state level as a money transmitter; -- Sky's MMF exposure is held through Cayman special purpose vehicles, with the funds managed by U.S. entities (Blackrock, Janus Henderson); and -- Its USDC exposure is held with Coinbase, a U.S. cryptocurrency exchange (through a self-custody wallet). S&P views regulatory risk as significant for the rating, given considerable uncertainty about the regulatory frameworks for DeFi. There has been significant progress in developing a regulatory framework for centralized stablecoins such as USDC, with the Guiding and Establishing National Innovation for U.S. Stablecoins Act recently signed into law. But the absence of a regulatory framework for decentralized protocols that issue stablecoins, like Sky, creates some uncertainty for their business models. Future regulation could be favorable, bringing clarity and increasing adoption, or unfavorable, imposing restrictions that inhibit adoption or subjecting the key participants in the governance of DeFi protocols to legal liabilities. In addition, legal risks arise from the nascency of DAO structures, which creates uncertainty around the interactions between DAOs and the traditional legal system. For example, Sky uses Cayman foundations to hold its tokenized MMF holdings and enters into agreements with third parties to manage those assets. S&P said, "If there were a court dispute between Sky and the Cayman foundations, we cannot rule out the risk that a DAO may be unable to successfully enforce its rights in court. We believe this risk is somewhat mitigated in practice by the transparency of governance at the DAO. We also note that Sky asserted its rights in court on two occasions by engaging legal counsel. "We view Sky's risk-adjusted capitalization as weak, primarily reflecting a low surplus reserve buffer and an uncertain asset composition. We see Sky's capital and earnings as a material ratings weakness given the protocol's limited amount of surplus reserve buffer to cover potential credit losses on the assets and its weak earnings capacity. "Sky has weak capitalization, in our view, with a risk-adjusted capital ratio of just 0.4% as of July 27, 2025." Sky's capital consists of two components: surplus reserve buffer and treasury. The target amount for the surplus reserve buffer is currently set at 70 million USDS. Unlike traditional financial institutions, Sky's surplus reserve buffer is not adjusted dynamically in relation to the asset composition, which S&P views as a noteworthy weakness. Instead, the surplus buffer is locked in the surplus reserve smart contract and cannot be used or invested. However, balances above the target amount can be used with governance approval for other purposes, for example to cover expenses in the current Sky rebrand launch phase. As a result, S&P does not include the excess in our calculation of capital. The second component of Sky's capital (treasury) includes the protocol's governance tokens (MKR and SKY), which S&P does not consider capital because the value of these tokens is likely to diminish in a stressed scenario. Sky's assets Asset Share of total (%)* Risk weight (%) Cryptocurrency-backed loans 52 75 USDC held in the PSM 24 15 Tokenized MMFs backed by Treasury bills 12 3 USDe 11 1,250 PSM--Peg stability module. MMFs--Money market funds. USDe--Ethena's synthetic dollar. *May not total 100% due to rounding. Source: S&P Global Ratings. Sky's balance sheet composition can fluctuate, which creates uncertainty around the risk-adjusted capital ratio. For instance, in July, Sky built up a direct exposure of $950 million to USDe and the associated additional yield-bearing token (sUSDe). Sky invests in these tokens to earn yield when rates are favorable and intends to fluctuate this exposure according to market rates while keeping its holdings below 20% of the outstanding USDe and sUSDe (for a total up to $1.2 billion). Ethena backs USDe through an asset reserve that has a shifting composition between a hedged cryptocurrency position and Treasury bill exposures through other stablecoins and MMFs. For example, it takes bitcoin from depositors who want to mint USDe and enters into short derivative transactions to neutralize market risk and maintain value. During a period of rising cryptocurrency prices and bullish sentiment, favorable funding rates on the derivative positions allow Ethena to earn a yield and pay out to depositors (because, in this case, long position holders pay higher funding fees to short position holders). S&P said, "Because Ethena relies on this complex mechanism to maintain its value, we apply a high risk weight to Sky's Ethena exposure. This is in line with the capital charge applicable to 'Group 2' cryptocurrency assets under the Basel framework expected to become effective in 2026. "We view Sky's earning capacity as weak, as measured by core earnings to S&P Global Ratings risk-weighted assets of just 0.8%. Moreover, earnings can be volatile, because revenue is influenced by interest rates set by the protocol, DeFi rates, and cryptocurrency asset prices. For example, earnings were pressured amid the crypto downturn in 2022 and 2023. "We think Sky is exposed to low-probability, high-severity cyber risks due to the use of smart contracts to hold assets. We believe the potential for flaws in the smart contracts, arising from coding errors or malevolent attacks, poses significant operational risk and could result in financial losses or loss of user confidence." Although robust smart contract audits and a track record of security at Sky partially mitigate these risks, they cannot be ruled out. Operational risks also arise from smart contracts' reliance on data (such as the price of ether for critical functions like liquidations) from third-party programs called oracles, which have been targeted by bad actors to manipulate DeFi protocols to their advantage. To mitigate this risk, Sky uses an oracle security module that delays the update of the price by an hour to protect against flash crashes and erroneous price feeds. Although delayed prices could translate into delayed liquidations, it also provides borrowers an opportunity to adjust their positions, for example, by depositing more collateral or repaying their loan while also supporting the readiness of liquidators. Sky's liquidation mechanisms have worked well during previous crypto downturns, with a track record of minimal loan losses. The cryptocurrency-backed loans on the Sky lending protocol have automated liquidation triggers that liquidate collateral if a minimum overcollateralization level is breached following a decline in value of the collateral. Liquidations on Spark are generally faster (nearly immediate) and are based on an auction with a fixed discount to the collateral's market price. By contrast, Core vaults use an auction with a gradually decreasing price, which takes longer. Overall, liquidations at Sky generally execute within minutes, if not seconds, with liquidation mechanisms working well so far. For example, loan losses at Sky were minimal during the crypto downturn in 2022 and 2023. Nevertheless, in both cases, there is a risk of loss on the loans if liquidations are delayed during a period of rapid decline in collateral value. S&P captures this risk through our risk weight on cryptocurrency-backed loans under its capital analysis. S&P thinks elevated depositor concentration risk creates the risk of a liquidity run, although Sky's sufficient liquidity reserves provide a good cushion against such risks. A significant liquidity risk facing Sky is that more holders of USDS/DAI may seek to withdraw (convert to USDC through the PSM) than can be supported by the available USDC in the PSM. This could happen, for example, because of a sustained depegging event (i.e., the price of USDS remaining below $1 on secondary markets) due to a loss of investor confidence in the stablecoin caused by credit losses or a significant cyber event. Sky's liquidity risk is over a short time horizon because all liabilities are effectively on-demand. Sky mitigates this risk by: -- Maintaining a reserve of stablecoins of 20%-30% of total assets, -- Holding tokenized MMFs backed by short-term Treasury bills, and -- Increasing interest rates if withdrawals rise. The protocol's stablecoin reserve is currently only USDC; others would need to be made eligible by governance vote. The 20%-30% target has been calibrated based on historical data for maximum observed withdrawals for the protocol. The Treasury-backed tokenized MMFs replaced the practice of holding Treasury bills off-chain. S&P views the addition of tokenized funds favorably compared with off-chain Treasury bill exposures, because they provide instant liquidity instead of going through a one- or two-day process to sell off-chain Treasury bills and bring the funds on-chain in USDC. As of July 27, 2025, the protocol has allocated $985 million across two tokenized funds, all of which are backed exclusively by short-term Treasury bills and cash in regulated financial institutions: $608 million in Blackrock's BUIDL fund and $377 million in Janus Henderson's JTRSY fund. If the USDC reserve falls below 20% of total assets, the protocol would generate instant liquidity by selling the tokenized funds and converting the proceeds to USDC to bring the reserve back to 25% of total assets. Conversely, if the USDC reserve exceeds 30% of total assets, the excess would be used to buy more tokenized funds. Finally, Sky can react to higher withdrawals by increasing interest rates, discouraging withdrawals from the savings module and encouraging borrowers to repay or reduce their exposure, thus improving liquidity. Although Sky's liquidity coverage, as measured by S&P's liquidity coverage multiple, has proved adequate over shorter time horizons, the potential for large depositor concentration can exacerbate liquidity risk. This can lead to sudden withdrawals that exceed prior observations and indeed may exceed available liquidity, especially given the on-demand nature of liabilities. For instance, in early February, a large concentration materialized over a couple of days with the Ethena protocol depositing approximately $1.5 billion in the sUSDS saving module (this happens when funding rates are less favorable). As of July 27, Ethena's deposit in the sUSDS saving module had declined to zero. Beyond the savings module, there is also a potential for a large concentration in circulating USDS, which could accelerate a liquidity run. The stable rating outlook on Sky Protocol indicates S&P's expectation of ongoing, sufficient liquidity buffers in USDC and tokenized MMFs and limited loan losses on the platform. It also assumes that Sky will prudently manage its balance sheet exposures and maintain supportive operating performance. At any point over the next 12 months, S&P could lower the ratings if it expects: -- Available liquidity, including USDC in the PSM and tokenized MMFs, to be insufficient to support the withdrawals from the holders of USDS/DAI looking to convert to USDC. This could be the case if USDC in the PSM--after considering any mitigating actions such as sale of tokenized MMFs--remains sustainably close to or below 20% of total assets; -- Loan losses on cryptocurrency-backed loans to exceed the surplus reserve, for example, due to a delay in the liquidation mechanism that coincides with a drop in collateral value greater than the substantial overcollateralization levels on these loans; or -- Regulatory developments to be disruptive to Sky's business model. An upgrade is highly unlikely in the next 12 months. Over the longer term, S&P could raise the ratings if: -- The governance framework evolves in line with the "Endgame" project such that key functions are decentralized, dependency on key individuals is reduced, and token holder participation in the voting process expands meaningfully, limiting the risk of disruption from misaligned voters; -- The size of the surplus reserve is adjusted dynamically based on the asset volume and composition as opposed to case-specific governance interventions, such that the risk-adjusted capital ratio is sustainably above 5%; and -- A mechanism is in place to prevent excessive depositor concentration. SKYLINE EMS: Seeks to Hire Antonio Martinez Jr. as Legal Counsel ---------------------------------------------------------------- Skyline EMS, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Antonio Martinez, Jr., Esq., an attorney practicing in McAllen, Texas. The attorney will render these services: (a) take all necessary action to protect and preserve the estate of the Debtor; (b) prepare on behalf of the Debtor all necessary legal papers in connection with the administration and prosecution of its case; (c) advise the Debtor in respect of bankruptcy matters or other such related services as requested; (d) perform all other necessary legal services in connection with the case; (e) advise the Debtor with respect to its powers and duties in the continued management, operation and liquidation of its business and properties; (f) review all loan and lease documents executed by the Debtor with its lenders and lessors; (g) attend meetings and negotiate with representatives of creditors and other parties in interest; (h) review and take necessary steps if there are transfers which may be avoided as preferential or fraudulent transfers, under the appropriate provision of the Bankruptcy Code; (i) prepare on the Debtor's behalf any plan or plans of liquidation, statements, and all related agreements and/or documents, and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; (j) represent the Debtor in connection with any potential post-petition financing; (k) appear before this court, any appellate courts, and the United States Trustee and protect the interests of the Debtor's estate before such courts and the United States Trustee; (l) file the Chapter 11 petition and schedules, related pleadings and first day motions; (m) perform all other necessary legal services with regard to the liquidation of the Debtor's real estate; and (n) appear before any local authorities and/or state permitting agency with regard to the development, subdivision or transfer of the Debtor's real estate; and take all steps necessary to authorize use of cash collateral; The firm will be paid at these hourly rates: Partner $280 Associate $175 Legal Assistants $75 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $10,000 from the Debtor. Mr. Martinez 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 firm can be reached through: Antonio Martinez, Jr., Esq. 515 W. Nolana Ave., Ste. B McAllen, TX 78504 Telephone: (956) 683-1090 Email: martinez.tony.jr@gmail.com About Skyline EMS Inc. Skyline EMS Inc., an emergency medical services provider operating across the Rio Grande Valley in Texas. It provides ambulance and emergency medical response services from its base in Mission, Texas. Skyline EMS Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-70188) on July 7, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities of $2.86 million. The Debtor is represented by Antonio Martinez, Jr., Esq. SMALL FORTUNE: Gets Extension to Access Cash Collateral ------------------------------------------------------- Small Fortune Hunter, LLC received a one-month extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina to use cash collateral. The fifth interim order penned by Judge David Warren authorized the Debtor's interim use of cash collateral to pay the expenses set forth in its 30-day budget, which covers the period August 1 to 31. The budget projects total operational expenses of $80,533 for August. BayFirst National Bank, BriteCap, WebBank and The LCF Group are the creditors that may assert a lien on the cash collateral. The Debtor owes these creditors $342,793. As adequate protection, these secured creditors will be granted a lien on revenue generated and assets acquired by the Debtor after its Chapter 11 filing to the same extent and with the same priority as their pre-bankruptcy liens. The next hearing is set for August 12. About Small Fortune Hunter Small Fortune Hunter, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01203) on April 1, 2025, listing up to $50,000 in assets and up to $500,000 in liabilities. Michael Seighman, member-manager of Small Fortune Hunter, signed the petition. Judge David M. Warren oversees the case. Philip Sasser, Esq., at Sasser Law Firm is the Debtor's bankruptcy counsel. BayFirst National Bank, as secured creditor, is represented by: Phillip M. Fajgenbaum, Esq. Parker Poe Adams & Bernstein, LLP 620 South Tryon Street, Suite 800 Charlotte, NC 28202 Telephone: (704) 372-9000 phillipfajgenbaum@parkerpoe.com SNAP INC: S&P Rates New $500MM Senior Unsecured Notes 'B+' ---------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '3' recovery rating to Snap Inc.'s proposed $500 million senior unsecured notes due 2034. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 60%) recovery for lenders in the event of a payment default. The company plans to use the proceeds from the proposed notes to repurchase a portion of its convertible notes (about $2 billion outstanding between 2026-2030). S&P said, "Our 'B+' issuer credit rating and stable outlook on Snap are unchanged because the proposed transaction will have minimal impact on the company's gross leverage. It is also unchanged as despite recent operational headwinds in its second quarter from a change to its ad platform that caused campaigns to clear auctions at substantially reduced prices and from changes to the de minimis exemption, we still expect the company to maintain FOCF to debt coverage above 5% while maintaining a cash and marketable securities position of at least $3 billion over the next 12 months." SOLID FINANCIAL: Seeks to Tap Omni Agent as Administrative Agent ---------------------------------------------------------------- Solid Financial Technologies, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Omni Agent Solutions, Inc. as administrative agent. The firm will provide these services: (a) assist with, among other things, solicitation, balloting, and tabulation of votes, and prepare any related reports, as required in support of confirmation of a Chapter 11 plan, and in connection with such services, process requests for documents from parties in interest; (b) prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; (c) provide a confidential data room, if requested; (d) manage and coordinate any distributions pursuant to a Chapter 11 plan, if requested; and (e) provide such other processing, solicitation, balloting, and other administrative services; The firm will be paid at these hourly rates: Director of Soliciation and Securities $250 Solicitation and Securities Consultant $200 - $225 Senior Consultants $200 - $240 Technology/Programming $85 - $115 Consultants $75 - $195 Analyst $40 - $75 The firm will receive a retainer of $10,000 from the Debtor. Paul Deutch, executive vice president of Omni Agent Solutions, 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: Paul Deutch Omni Agent Solutions, Inc. 5955 Desoto Ave., Ste. 100 Woodland Hills, CA 91367 About Solid Financial Technologies Solid Financial Technologies Inc. is a FinTech platform that enables banks and companies to build, scale, and launch banking and payment solutions with ease. By offering services like account creation, payments processing, and card issuance, Solid integrates with partner banks to deliver seamless financial experiences. The platform prioritizes security and compliance, helping companies navigate regulatory requirements while driving innovation in the financial ecosystem. Solid Financial Technologies Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10669) on April 7, 2025. In its petition, the Debtor reported total assets as of February 28, 2025 of $10,523,766 and total liabilities as of February 28, 2025 of $4,131,647. Judge Brendan Linehan Shannon handles the case. The Debtor tapped Matthew P. Ward, Esq. at Womble Bond Dickinson (US) LLP as counsel and Rock Creek Advisors, LLC as financial advisor. Omni Agent Solutions, Inc. is the Debtor's administrative agent. SOUTHERN AUTO: Court Extends Cash Collateral Access to Sept. 1 -------------------------------------------------------------- Southern Auto Parts, Inc. received a one-month extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, to use cash collateral. The eighth interim order signed by Judge David Warren authorized the Debtor to use cash collateral for the period from August 1 to September 1 to pay the operating expenses set forth in its budget, with a 10% variance allowed. The budget projects total operational expenses of $182,899.97 for the interim period. The creditors that assert an interest in the Debtor's cash collateral are General Parts Distribution, LLC, Carolina Small Business Development Fund, House-Hasson Hardware Company, First-Citizens Bank & Trust Company, and the U.S. Small Business Administration. As adequate protection, the secured creditors will be granted post-petition lien and security interest in all property of the Debtor with the same priority as their pre-bankruptcy lien and security interest. As additional protection, First-Citizens, the current holder of several loans, will be granted a superpriority administrative expense claim to the extent the use, sale, or lease of its collateral results in a decrease in its interest therein. The order remains in effect until modified or terminated by the court. Validity of liens created under the order will survive dismissal or conversion to Chapter 7. The final hearing is scheduled for August 21. About Southern Auto Parts Southern Auto Parts, Inc., formerly known as Trenton Auto Parts, Inc., owns and operates an auto parts store in Trenton, N.C. Southern Auto Parts filed Chapter 11 petition (Bankr. E.D.N.C. Case No. 25-00294) on January 27, 2025, with $1 million to $10 million in both assets and liabilities. Jared L. Beverage, president of Southern Auto Parts, signed the petition. Judge David M. Warren presides over the case. Joseph Zachary Frost, Esq., at Buckmiller & Frost, PLLC is the Debtor's legal counsel. First-Citizens Bank & Trust Company, as secured creditor, is represented by: Paul A. Fanning, Esq. Ward and Smith, P.A. P.O. Box 8088 Greenville, NC 27835-8088 Telephone: 252.215.4000 Facsimile: 252.215.4077 paf@wardandsmith.com General Parts Distribution, LLC, as secured creditor, is represented by: Kelly C. Hanley, Esq. P.O. Box 1000 Raleigh, NC 27602 Telephone: (919) 981-4000 Facsimile: (919) 981-4300 khanley@williamsmullen.com Carolina Small Business Development Fund, as secured creditor, is represented by: James R. Vann, Esq. Vann Attorneys, PLLC 3110 Edwards Mill Rd., Ste. 210 Raleigh, NC 27612 Telephone: (919) 510-8585 Facsimile: (919) 510-8570 jrvann@vannattorneys.com House-Hasson Hardware Company, as secured creditor, is represented by: Jason L. Rogers, Esq. Hodges, Doughty & Carson, PLLC P.O. Box 869 Knoxville, TN 37901-0869 Telephone: (865) 292-2307 jrogers@hdclaw.com SOUTHERN EXPRESS: Seeks Chapter 11 Bankruptcy in North Carolina --------------------------------------------------------------- On August 5, 2025, Southern Express Inc. filed Chapter 11 protection in the Eastern District of North Carolina. According to court filing, the Debtor reports $6,321,019 in debt owed to 50 and 99 creditors. The petition states funds will not be available to unsecured creditors. About Southern Express Inc. Southern Express Inc. provides motorcoach and shuttle transportation services across the southern United States, including corporate charters, event and campus shuttles, school and family trips, and airport transfers. Founded in 2010 by industry professionals Bruce Bechard and Vance Hoover, the privately held company operates a modern, sanitized fleet staffed by certified driving professionals and emphasizes locally made decisions to ensure consistent, client-focused service. Southern Express Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02978) on August 5, 2025. In its petition, the Debtor reports total assets of $3,330,694 and total liabilities of $6,321,019. Honorable Bankruptcy Judge Pamela W. Mcafee handles the case. The Debtor is represented by Jason L. Hendren, Esq. at HENDREN, REDWINE & MALONE, PLLC. SOUTHWEST FIRE: Seeks to Tap Gatton & Associates as Legal Counsel ----------------------------------------------------------------- Southwest Fire Defense, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Mexico to employ Gatton & Associates, PC as counsel. The firm will provide these services: (a) represent and advise the Debtor regarding all aspects of this bankruptcy case including adversary proceedings; (b) prepare on behalf of the Debtor necessary legal papers; and (c) assist the Debtor in taking actions required to effect reorganization under subchapter V of Chapter 11 of the Bankruptcy Code. The firm will be paid at these hourly rates: Chris Gatton, Attorney $300 Benjamin Jacobs, Attorney $250 Marcus Sedillo, Attorney $250 Paralegals $140 Document Clerk $40 On October 18, 2024, the Debtor paid an initial retainer in the amount of $15,000. Mr. Gatton 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: Chris M. Gatton, Esq. Gatton & Associates, P.C. 10400 Academy NE, Suite 350 Albuquerque, NM 87111 Telephone: (505) 271-1053 Facsimile: (505) 271-4848 Email: chris@gattonlaw.com About Southwest Fire Defense LLC Southwest Fire Defense, LLC provides emergency same-day hazard tree removal, tree trimming, stump grinding, defensible space creation and tree risk assessment services in the Santa Fe, New Mexico area. Founded in 2014 by former firefighter Daniel A. Martinez, the company offers free estimates. Southwest Fire Defense filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.M. Case No. 25-10924) on July 28, 2025. In its petition, the Debtor reported total assets of $706,464 and total liabilities of $1,530,318. Judge Robert H. Jacobvitz handles the case. The Debtor is represented by Chris Gatton, Esq., at Gatton & Associates, PC. SPEARMAN AEROSPACE: Court Extends Cash Collateral Access to Oct. 31 ------------------------------------------------------------------- Spearman Aerospace, Inc. received another extension from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to use cash collateral. The fourth interim order signed by Judge Deborah Saltzman extended the Debtor's authority to use cash collateral through October 31 to pay the expenses set forth in its budget. As protection for any diminution in the value of their collateral, creditors that have a perfected security interest in the cash collateral will be granted replacement liens on post-petition assets, with the same validity and priority as their pre-bankruptcy liens. The replacement liens do not apply to any Chapter 5 claims and the pre-bankruptcy retainer provided to Echo Park Legal, APC. The next hearing is scheduled for October 28. The Debtor believes Pacific Premier Bank (as successor-in-interest to Opus Bank) may be the only secured creditor with an interest in cash collateral. This is because while Midland States Bank, Valley Acquisition Corporation, Celtic Capital Corporation, and ASSN Company may have an interest in its cash collateral based on their filings with the Secretary of State, the Debtor believes the underlying debts owed to these creditors have already been satisfied. Pacific Premier Bank, as secured creditor, is represented by: Thomas J. Polis, Esq. Polis & Associates A Professional Law Corporation 19800 MacArthur Boulevard, Suite 1000 Irvine, CA 92612-2433 Telephone: (949) 862-0040 Facsimile: (949) 862-0041 tom@polis-law.com About Spearman Aerospace Inc. Spearman Aerospace, Inc. manufactures high-precision components for the aerospace industry, specializing in parts for landing gear assemblies, door pivots, and gearboxes. It utilizes advanced CNC technology to produce these components for satellite or space applications and other aerospace needs. Spearman Aerospace filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 25-10917) on February 6, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Deborah J. Saltzman handles the case. M. Douglas Flahaut, Esq., at Echo Park Legal, APC is the Debtor's legal counsel. STAKEHOLDER MIDSTREAM: S&P Assigns 'B+' ICR, Outlook Stable ----------------------------------------------------------- S&P Global Ratings assigned its 'B+' issuer credit rating to Stakeholder Midstream LLC. S&P said, "At the same time, we assigned our 'BB-' issue-level and '2' recovery ratings to the proposed loan B (TLB). The recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 70%) recovery in the event of a payment default. "The stable outlook reflects our view that Stakeholder will increase its throughput volumes over the next few years, supported by additional system capacity from the completion of its CVII processing plant expansion in 2024." Stakeholder's credit quality reflects its small scale, geographic concentration, and counterparty credit risk, partially offset by its favorable capital expenditure (capex) profile. Stakeholder is a gathering and processing company focused on the horizontal San Andres play within the broader Permian region. The San Andres is situated in Southeastern New Mexico and West Texas, between the larger Delaware and Midland basins. While the San Andres is not the premier rock in the region, in recent years newer technologies have attracted more drilling and have allowed producers to increase production. Similar to the other Permian regions, break-even costs of wells are low and have supported volumes, even during low periods of commodity price cycles. Stakeholder has approximately 170,000 dedicated acres, with total processing capacity of 172 million cubic feet per day (mmcf/d) since June2024 following the expansion of its CVII train. It also has three CO2 injection wells with a permitted capacity of approximately 1,000,000 million tons per annum (MPTA). The carbon capture segment provides some cash-flow diversity, but it contributes only a small percentage of the overall business (about 5% of the 2025 expected gross margin). Stakeholder has a somewhat uncommon capital-expenditure program referred to as "Aid-in-Construction," whereby its customers are contractually obligated to fund certain maintenance and growth projects. This provides Stakeholder with increased financial flexibility and lessens the amount of capital the company needs to deploy to maintain and grow its assets, supporting its near-term liquidity. Stakeholder faces considerable counterparty credit risk, partially offset by its contract profile. The company has a significant customer concentration, with only five primary customers and the top producer accounting for about 40% of its gross margin. All of the counterparties are unrated upstream exploration and production companies, the main drilling operations of which are focused on the San Andres. Their focused drilling in this region provides some measure of cash-flow visibility, as S&P would expect them to continue drilling even if commodity prices weaken. S&P said, "While we consider the counterparty credit profile to be a credit weakness, this risk is somewhat offset by Stakeholder's contract profile, with about 90% of 2025 EBITDA backed by fixed-fee contracts. While this type of contract protects the company from changes in commodity prices, it still faces volumetric risk if the producers reduce drilling on Stakeholder's acreage. The company has minimal direct commodity price exposure because about 10% of EBITDA comes from variable-rate contracts tied to commodity prices. In addition, the majority of Stakeholder's processed gas flows to West Coast markets, which tends to yield a higher margin than the more competitive Gulf Coast market. "We expect Stakeholder will generate S&P Global Ratings-adjusted EBITDA of $185 million-$190 million in 2025 and $195 million-$205 million in 2026. We also expect that it will increase EBITDA. This is due to its producers ramping-up activity and the additional capacity from the CVII expansion, which helped alleviate infrastructure bottlenecks. "In our base-case scenario, we don't forecast the company will pursue any additional growth projects. We expect it will generate at least $120 million in free operating cash flow in 2025 and beyond and sweep cash to reduce leverage when it exceeds 3.0x, with any excess paid as a distribution to its sponsor. As a result, we expect S&P Global Ratings-adjusted debt to EBITDA will be 3.0x-3.5x in 2025 and 2026. "The stable outlook reflects our view that Stakeholder will increase its throughput volumes over the next few years, supported by the additional system capacity following the completed CVII processing plant expansion in 2024. We expect growth will also stem from increased production in the region and continued strong demand for natural gas. "We could take a negative rating action if Stakeholder sustains leverage above 4.0x. This could happen if throughput volumes generated by acreage dedication contracts are lower than we expect. "Although unlikely, we could take a positive rating action if the company increases the size and scale of its operations and improves its counterparty credit risk profile while maintaining leverage well below 3.0x, with a sufficient cushion." STEWARD HEALTH: DOJ, Massachusetts Appeal Ch. 11 Bankruptcy Plan ---------------------------------------------------------------- James Nani of Bloomberg Law reports that Massachusetts and a U.S. Department of Justice unit have appealed a bankruptcy court's approval of Steward Health Care System LLC's liquidation plan, which includes creating a trust to pursue potentially billions of dollars in claims for creditors. The appeals follow last July 2025's decision by U.S. Bankruptcy Judge Christopher Lopez of the Southern District of Texas to approve the hospital operator's wind-down plan. Once the largest privatized health-care network in the nation, Steward filed for Chapter 11 last 2024. On Friday, August 1, 2025, the U.S. Trustee's Office and the Massachusetts Office of Health and Human Services filed their notices of appeal. About Steward Health Care Steward Health Care System, LLC, owns and operates the largest private physician-owned for-profit healthcare network in the U.S. Headquartered in Dallas, Texas, Steward's operations include 31 hospitals in eight states, approximately 400 facility locations, 4,500 primary and specialty care physicians, 3,600 staffed beds, and nearly 30,000 employees. Steward Health Care provides care to more than two million patients annually. Steward and 166 affiliated debtors filed Chapter 11 petitions (Bankr. S.D. Texas Lead Case No. 24-90213) on May 6, 2024. Judge Christopher M. Lopez oversees the proceeding. The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy counsel; McDermott Will & Emery as special corporate and regulatory counsel; AlixPartners, LLP as financial advisor and John Castellano of AlixPartners as chief restructuring officer. Lazard Freres & Co. LLC, Leerink Partners LLC, and Cain Brothers, a division of KeyBanc Capital Markets Inc., provide investment banking services to the Debtors. Kroll is the claims agent. Susan N. Goodman has been appointed as patient care ombudsman in the Debtors' Chapter 11 cases. STORMS FAMILY: Seeks to Tap Coldwell Banker as Real Estate Broker ----------------------------------------------------------------- The Storms Family Land Trust seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Coldwell Banker as real estate broker. The broker will provide these services: (a) implement a successful marketing strategy; (b) prepare marketing materials; (c) stage the real property for showing; (d) negotiate a sale with a substantial deposit; and (e) assist in closing the transaction. The broker will receive a commission of 2.5 percent of the property's gross selling price. Agnes Pokropek, a real estate sales associate at Coldwell Banker, 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: Agnes Pokropek Coldwell Banker 6505 Gulf Blvd. St. Pete Beach, FL 33706 About The Storms Family Land Trust The Storms Family Land Trust is a land trust that holds a single real estate asset located at 3325 NE 14 Court in Fort Lauderdale, Florida. The property is valued at approximately $2.49 million. The Storms Family Land Trust sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16373) on June 2, 2025. In its petition, the Debtor reported total assets of $2,489,590 and total liabilities of $3,279,886. Judge Peter D. Russin handles the case. The Debtor is represented by Susan D. Lasky, Esq., at Susan D. Lasky, PA. SYNAPSE FINANCIAL: CFPB Preps Unrecovered Consumer Funds Complaint ------------------------------------------------------------------ Rae Ann Varona of Law360 reports that the Consumer Financial Protection Bureau is preparing to file a complaint against bankrupt Synapse Financial Technologies, alleging it mishandled consumer funds and left up to $90 million unrecovered, according to the fintech firm's trustee in a filing with a California bankruptcy judge. About Synapse Financial Technologies Headquartered in San Francisco, California, Synapse Financial Technologies, Inc. -- https://synapsefi.com/ -- is a banking-as-a-service platform for embedded finance solutions worldwide. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-10646) on April 22, 2024. In the petition signed by Sankaet Pathak, chief executive officer, the Debtor disclosed up to $50 million in assets and liabilities. Judge Martin R. Barash oversees the case. Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik L.L.P., is the Debtor's legal counsel. T-SHACK INC: Seeks to Hire Michael J. Harker as Bankruptcy Counsel ------------------------------------------------------------------ T-Shack Inc. seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ The Law Offices of Michael J. Harker as counsel. The firm will render these services: (a) advise and represent the Debtor concerning the rights and remedies of the estate in regards to the assets of the estate, with respect to the secured, priority, and general claims of creditors; (b) advise and represent the Debtor in connection with financial and business matters; (c) advise and represent the Debtor in connection with the investigation of potential causes of action against persons or entities; (d) represent the Debtor in any proceeding or hearing in bankruptcy court, and in any action in other courts in which the rights of the estate may be litigated or affected; (e) conduct examinations of witnesses, claimants, or adverse parties and prepare and assist in preparation of reports, accounts applications, and orders; (f) advise and represent the Debtor in the negotiation, formulation and drafting of any plan of reorganization and disclosure statement; (g) advise and represent the Debtor in the performance of its duties and exercise of its powers under the Bankruptcy Code, bankruptcy rules, local rules, and the Trustee Guidelines; and (h) provide the Debtor other necessary advice and services as the Debtor may require in connection with this Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Attorney $425 Associate Attorney $275 Paraprofessionals $175 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $7,500 from the Debtor. Michael Harker, Esq., disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael J. Harker, Esq. The Law Offices of Michael J. Harker 2901 El Camino Ave., Ste. 200 Las Vegas, NV 89102 Telephone: (702) 248-3000 Email: notices@harkerlawfirm.com About T-Shack Inc. T-Shack Inc. is in the rental business and owns (or owned) several real properties in Las Vegas. T-Shack Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-11208) on March 5, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $50 million. The Debtor is represented by The Law Offices of Michael J. Harker. TEHUM CARE: Creditors Allowed to Pursue Successor Liability Claims ------------------------------------------------------------------ Randi Love of Bloomberg Law reports that the creditors of Tehum Care Services Inc. with personal injury or wrongful death claims who never received an opt-out form cannot be bound by third-party releases in the prison health-care provider's confirmed bankruptcy plan. YesCare Corp., a nonbankrupt affiliate of Corizon Health Inc., had sought to block certain parties—primarily current and former inmates—from pursuing successor liability claims against nonbankrupt entities. About Tehum Care Services Tehum Care Services Inc., doing business as Corizon Health Services Inc., is a privately held prison healthcare contractor in the United States. It is based in Brentwood, Tenn. Tehum Care Services filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-90086) on Feb. 13, 2023. In the petition filed by Russell A. Perry, as chief restructuring officer, the Debtor reported assets between $1 million and $10 million and liabilities between $10 million and $50 million. Judge Christopher M. Lopez oversees the case. The Debtor tapped Gray Reed & McGraw, LLP as bankruptcy counsel; Bradley Arant Boult Cummings, LLP, as special litigation counsel; and Ankura Consulting Group, LLC, as financial advisor. Russell A. Perry, senior managing director at Ankura, serves as the Debtor's chief restructuring officer. Kurtzman Carson Consultants, LLC, is the claims, noticing and solicitation agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Stinson, LLP and Dundon Advisers, LLC, serve as the committee's legal counsel and financial advisor, respectively. TELLICO RENTALS: Seeks Approval to Hire ReMax Excels as Realtor --------------------------------------------------------------- Tellico Rentals, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to employ ReMax Excels as realtor. The Debtor needs a realtor to procure and submit offers to purchase its real property. The realtor will receive a commission of 2.5 percent of the sales price upon the sale of property. Zach Miller, owner of ReMax Excels, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The realtor can be reached through: Zach Miller ReMax Excels 200 Lakeside Plaza Loudon, TN 37774 Telephone: (865) 408-1616 Facsimile: (866) 571-0097 About Tellico Rentals LLC Tellico Rentals, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31173) on June 19, 2025. In the petition signed by Mohit Mankad, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Suzanne H. Bauknight oversees the case. Edward J. Shultz, Esq., at Tarpy, Cox, Fleishman & Leveille, PLLC represents the Debtor as counsel. TJ TRUCKING: Court Extends Cash Collateral Access to Oct. 10 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Ohio issued a second interim order authorizing T.J. Trucking Enterprises, LLC to continue using cash collateral through October 10. The second interim order authorized the Debtor to use the cash collateral of Transportation Alliance Bank to pay the expenses listed in its budget, with a 20% variance per line item and 15% overall. As adequate protection, Transportation Alliance Bank will be granted a post-petition perfected security interest in the Debtor's property to the same extent and with the same priority as the bank held on a pre-petition basis in the property. In addition, the bank will receive a monthly payment of $8,161.42 as further protection. The next hearing is scheduled for October 7. About TJ Trucking Enterprises TJ Trucking Enterprises, LLC is a Toledo, Ohio-based freight trucking company operating a fleet of semi-trucks including Mack Anthems, Volvo VNL860s, and Freightliner Cascadias. TJ Trucking Enterprises sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-31433) on July 11, 2025. In its petition, the Debtor reported estimated assets and liabilities between $1 million and $10 million. Judge John P. Gustafson handles the case. Eric R. Neuman, Esq., at Diller & Rice is the Debtor's legal counsel. Transportation Alliance Bank, as secured creditor, is represented by: John P. Murray, Esq. McGlinchey Stafford 3401 Tuttle Road, Suite 200 Cleveland, OH 44122 Phone: (216) 455-5073 Fax: (216) 803-8891 jmurray@mcglinchey.com TLC MEDICAL: Seeks to Tap NAI Southcoast as Real Estate Broker -------------------------------------------------------------- TLC Medical Group, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ South Coast Inc., doing business as NAI Southcoast, as real estate broker. The Debtor needs an agent to market and sell its property located in St. Lucie County, Florida. The broker will receive a commission of 5 percent of the gross selling sales price. Nikolas Schroth, a license real estate broker at NAI Southcoast, 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: Nikolas M. Schroth NAI Southcoast 100 Albany Avenue, 2nd Floor Stuart, FL 34994 Telephone: (772) 286-6292 About TLC Medical Group TLC Medical Group, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-21588) on Nov. 4, 2024, listing up to $10 million in both assets and liabilities. Judge Mindy A. Mora handles the case. Susan D. Lasky, PA is the Debtor's counsel. TRACK BARN: Gets Final OK to Use Cash Collateral ------------------------------------------------ Track Barn, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral. The final order authorized the Debtor to use cash generated from assets secured by certain lenders to fund ongoing operations pursuant to a budget, with a 10% variance allowed. As protection for any diminution in the value of their collateral, secured lenders including the U.S. Small Business Administration, Mulligan Funding, LLC and Shopify/WebBank will be granted replacement liens on the Debtor's equipment, inventory and accounts whether such property was acquired before or after the Debtor's bankruptcy filing. The replacement liens will have the same validity and priority as the liens of secured lenders on the pre-bankruptcy collateral. Moreover, these liens do not apply to any avoidance actions and are subject and subordinate to the fee carveout. As further protection, the Debtor has to pay monthly payments of $147 to SBA and $300 to FinWise Bank (via Mulligan Funding). About Track Barn LLC Track Barn, LLC is a company likely specializing in track and field equipment retail. Track Barn sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-42441) on July 2, 2025. In its petition, the Debtor reported estimated assets between $50,000 and $100,000 and estimated liabilities between $100,000 and $500,000. Judge Mark X Mullin handles the case. The Debtor is represented by: Robert Thomas DeMarco Robert Demarco Tel: 972-991-5591 Email: robert@demarcomitchell.com TRINITY INTEGRATED: Hires Scott A Harnden CPA PC as Accountant -------------------------------------------------------------- Trinity Integrated Healthcare LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Scott A Harnden CPA PC as accountant. The accountant will render professional accounting services including, without limitation, bookkeeping functions such as recording and reconciling all cash receipts and cash disbursements in Quickbooks based on bank and debit card statements and payroll reports; recording the payroll and taxes and preparing and adjusting corporate books and records as necessary and appropriate. The accountant will also prepare federal and state income tax returns for the year ending Dec 31, 2024 (including providing any accounting and bookkeeping assistance necessary to prepare those returns), and similarly for the year ending Dec. 31, 2025 (if needed during these bankruptcy proceedings); will consult on accounting matters as needed; will prepare and adjust corporate accounting books as needed; and will prepare any balance sheets, profit and loss statements, statement of cash flows and other financial statements, monthly operating reports, or other documents needed in connection with the bankruptcy case. The accountant's fees for accounting services will range from $100 to $300 per hour. Scott A Harnden, CPA, accountant at Scott A Harnden CPA PC, 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: Scott A Harnden, CPA Scott A Harnden CPA PC 8475 E Hartford Dr Suite 101 Scottsdale, AZ 85255 Phone: (480) 368-5755 Email: scott@sahcpapc.com About Trinity Integrated Healthcare LLC Trinity Integrated Healthcare LLC is a Phoenix-based healthcare provider specializing in psychiatric and substance abuse treatment services. Trinity Integrated Healthcare LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-04479) on May 16, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. The Debtors are represented by Chris D. Barski, Esq. at Barski Law. TURNER OAKWOOD: Seeks to Sell Raleigh Property at Auction --------------------------------------------------------- Turner Oakwood Properties LLC seeks permission from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to sell real property and improvements located at 404 East Edenton Street, Raleigh, North Carolina 27610, free and clear of liens, claims, and encumbrances. The Debtor, a limited liability company organized and existing under the laws of the State of North Carolina. On the Effective Date the Confirmed Plan, real property having a physical address of 404 East Edenton Street, Raleigh, North Carolina 27610 was owned as follows: -- Turner Oakwood Properties, LLC 50% -- Strange Bedfellows, LLC 25% -- Stephana Turner Williams 25% The Debtor and a third-party, Strange Bedfellows LLC (Co-owner), were the record owners of the Property, which is was addressed in Class 7 of the Confirmed Plan. The Debtor shall work with the broker to set the asking price and minimum price. These prices will be shared with Stephena Turner Williams and Strange Bedfellows, LLC. The Debtor shall have 12 months to obtain signed contracts for the purchase of the Properties, which sales must close within 14 months of the Effective Date. Each Secured Creditor shall have the right within three days to reject any contract brought to it by the Debtor, but only if they would not be paid in full. Stephena Turner Williams and Strange Bedfellows, LLC, shall have the right within three days to reject any contract brought to it by the Debtor, but only if they are willing to purchase the Property on the same terms plus a two percent increase of the purchase price. In addition, the listing prices have been provided to the other Owners and those Owners are authorized to notify the Broker that they wish to make the initial offer and then subsequent buyers must increase the offer by two percent. If the Debtor (i) is unable to procure a signed contract for the purchase of a Property, which sale must close within 14 months of the Effective Date and be agreeable to the applicable Secured Creditor, or (ii) defaults on the conditions in the applicable Class, the Debtor shall immediately cause the Property to be sold via public auction or foreclosure, as provided above in the treatment for each Secured Creditor. Each Secured Creditor reserves its right to credit bid at a public auction or foreclosure of the collateral securing the Debtor's obligation to each Secured Creditor. If applicable, the Secured Creditor and the Debtor shall agree to an auctioneer to sell the Property. If the Debtor and the Secured Creditor cannot agree to the selection of an auctioneer, the Bankruptcy Court shall retain jurisdiction to decide the matter. If the auction results in a winning bidder, the high bidder shall have 30 days from the auction date to close the sale. The sale of the Property shall be sold free and clear of all liens, encumbrances, claims, interests, or other obligations consistent with ordinary and customary real estate closings. If the Debtor, the Secured Creditor, Stephena Turner Williams, and/or Strange Bedfellows, LLC, are unable to reach a consensus to any terms outlined, the aggrieved party shall be permitted to seek an expedited hearing with the Bankruptcy Court on any such challenge or request; provided, however, that such hearing shall not occur on less than three business days' notice to all parties in interest. The Debtor files approval for the employment of Country Boys Auction & Realty Co., Inc. (CBA) as auctioneer in the Bankruptcy Case. The Auctioneer will receive the following commission: 1. Ten-percent (10%) of the next $25,000.00 of real property sold; and 2. Six-percent (6%) of the remaining balance of real property sold. A public sale and auction of the Property is scheduled for, and will be held and conducted by CBA as follows: Public Sale Date: September 3, 2025 Public Sale Time: 10:00 A.M. ET Public Sale Location: 404 East Edenton Street Raleigh, North Carolina 27610 Any secured creditor shall be afforded the right to credit bid at the Public Sale, to the extent allowed by Section 363(k) of the Bankruptcy Code. In the event that a credit bid submitted at the Public Sale is the best, highest, and prevailing bid with respect to the Property, such lienholder shall pay a commission to CBA equal to four-percent of the amount of any such Credit Bid. The Debtor seeks approval to sell the Property at the Public Sale, free and clear of any and all liens, encumbrances, claims, rights and other interests. The Debtor shall distribute the proceeds of the Public Sale of the Property to the applicable lienholders, including the Nash County Tax Collector, in accordance with the priority of liens, after payment of all costs of sale under Section 506(c) of the Bankruptcy Code, including commissions payable to CBA and allowed attorneys' fees, costs, and expenses associated with the liquidation, disposition, and sale of the Property, within 14 days of entry of an Order by the Court authorizing the Debtor to make said distributions. About Turner Oakwood Properties LLC Turner Oakwood Properties, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 22-02049) on Sept. 12, 2022. In the petition signed by its manager, Augusta Bernadette Turner, the Debtor disclosed up to $1 million in both assets and liabilities. Judge David M. Warren oversees the case. William Kroll, Esq., at Everett Gaskins Hancock, LLP, is the Debtor's counsel. TYLER 2 CONSTRUCTION: Hires Moon Wright & Houston as Counsel ------------------------------------------------------------ Tyler 2 Construction Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire Moon Wright & Houston, PLLC as bankruptcy counsel. The firm's services include: a. providing legal advice with respect to its powers and duties as debtor in possession in the continued operation of its business affairs and management of its properties; b. negotiating, preparing, and pursuing confirmation of a Chapter 11 plan and approval of a disclosure statement (if applicable), and all related reorganization agreements and/or documents; c. preparing necessary applications, motions, answers, orders, reports, and other legal papers on behalf of the Debtor; d. representing the Debtor in litigation arising from or relating to the bankruptcy estate; e. appearing in court to protect the interests of the Debtor; and f. performing all other legal services for the Debtor that may be necessary and proper in the Chapter 11 proceeding. The firm will be paid at these rates: Richard S. Wright $575 per hour Andrew T. Houston $550 per hour Caleb Brown $375 per hour Shannon L. Myers (Paralegal) $185 per hour Jaime Schaedler (Assistant) $150 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Richard S. Wright, Esq., a partner at Moon Wright & Houston, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Richard S. Wright Moon Wright & Houston, PLLC 212 N. McDowell Street, Suite 200 Charlotte, NC 28204 Telephone: (704) 944-6560 Facsimile: (704) 944-0380 Email: rwright@mwhattorneys.com About Tyler 2 Construction Inc. Tyler 2 Construction Inc. is a general contractor based in Charlotte, North Carolina. The Company provides construction management and renovation services across sectors including office, healthcare, retail, and light industrial. Tyler 2 Construction Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Case No. 25-30715) on July 9, 2025. In its petition, the Debtor reports total assets of $9,819,766 and total liabilities of $5,762,398. Honorable Bankruptcy Judge Ashley Austin Edwards handles the case. The Debtors are represented by Richard S. Wright, Esq. at MOON WRIGHT & HOUSTON, PLLC. UGLYDUCKLINGRENO LLC: Hires Bruner Wright as Bankruptcy Counsel --------------------------------------------------------------- UglyDucklingReno, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to hire 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. Mr. Wright 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: Byron Wright III, Esq. Bruner Wright, PA 2868 Reminton Green Circle, Suite B Tallahassee, FL 32308 Tel: (850) 385-0342 Fax: (850) 270-2441 About UglyDucklingReno, LLC UglyDucklingReno, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-30662) on July 14, 2025, listing $100,001 to $500,000 in both assets and liabilities. Judge Karen K Specie presides over the case. Byron Wright, III, Esq. at Bruner Wright, P.A. represents the Debtor as counsel. UNITED SITE: Lenders Rehire Advisers to Renew Debt Talks -------------------------------------------------------- Reshmi Basu of Bloomberg News reports that United Site Services, a portable toilet provider backed by Platinum Equity, has brought in advisers amid ongoing performance challenges, according to sources familiar with the situation. The financially strained company has re-engaged PJT Partners Inc. and Milbank, while a group of lenders holding over half of its debt has retained Centerview Partners for guidance on debt matters, the sources said. The lender group had previously hired Akin Gump Strauss Hauer & Feld, Bloomberg earlier reported. About United Site Services Inc. United Site is a provider of porta potties, bathroom trailers, shower trailers, temporary fences & dumpster services. UPHEALTH HOLDINGS: Gets September Hearing on Ch. 11 Plan Approval ----------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that on Wednesday, August 6, 2025, a Delaware bankruptcy judge set a hearing for next month to review medical technology company UpHealth's bid for Chapter 11 plan confirmation and its motion to dismiss an adversary proceeding brought by India-based Glocal Healthcare. About UpHealth Holdings UpHealth Holdings Inc. is a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management. UpHealth Holdings and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 23-11476) on Sept. 19, 2023. In the petitions filed by Samuel J. Meckey, chief executive officer, UpHealth Holdings disclosed up to $500 million in both assets and liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Stuart M. Brown, Esq., at DLA Piper LLP (US) as counsel; Morrison & Foerster LLP as litigation counsel; and FTI Consulting, Inc. as financial advisor. Omni Agent Solutions is the Debtors' claims agent and administrative agent. VALHALLA LAND: Hires Valhalla Land to Provide Tax Services ---------------------------------------------------------- Valhalla Land Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to employ Huston Accounting & Finance to provide tax return filing and other accounting services. Huston Accounting would charge $100 per hour for accountant work and $50 per hour for staff level work, plus advanced expenses/costs. As disclosed in the court filings, Huston Accounting is a disinterested party despite holding an unsecured claim. The firm can be reached through: Ty B. Huston Huston Accounting & Finance 114 E Main St. La Harpe, IL 61450 Phone: (217) 659-7636 Fax: (217) 659-7636 Email: ty.huston@yahoo.com About Valhalla Land Holdings Valhalla Land Holdings, LLC filed its voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. C.D. Ill. Case No. 25-80201). At the time of filing, the Debtor listed $1,000,001 to $10 million in both assets and liabilities. Judge Peter W Henderson presides over the case. Sumner A. Bourne, Esq., at Rafool & Bourne, PC serves as the Debtor's counsel. VALVES AND CONTROLS: Hires Kroll as Claims and Noticing Agent ------------------------------------------------------------- Valves and Controls US Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Kroll Restructuring Administration LLC as claims, noticing and solicitation agent. Kroll 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. Prior to the petition date, the Debtors provided Kroll an advance in the amount of $50,000. Benjamin Steele, a managing director at Kroll, 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: Benjamin J. Steele Kroll Restructuring Administration LLC One World Trade Center 285 Fulton Street, 31st Floor New York, NY 10007 Telephone: (212) 871-2000 About Valves and Controls US Inc. Valves and Controls US Inc., previously known as Weir Valves & Controls USA Inc., is a manufacturer of industrial valves and control systems operating within the fabricated metal product manufacturing industry. Valves and Controls US Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11403) on July 1, 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 Thomas M. Horan handles the case. The Debtor is represented by Patrick J. Reilley, Esq. at Cole Schotz P.C. VEGAS TREASURES: Gets Final OK to Use Cash Collateral ----------------------------------------------------- Vegas Treasures, Inc. received final approval from the U.S. Bankruptcy Court for the District of Nevada to use cash collateral. The final order authorized the Debtor to use cash collateral from July 31 onward in accordance with its budget. The U.S. Small Business Administration, a secured creditor, will be provided with protection in the form of a superpriority claim against the Debtor; a monthly payment of $5,115; and replacement security interests in and liens on the Debtor's assets and proceeds thereof, in case of any diminution in the value of its security interests. The Debtor, which operates a Mediterranean cafe and hookah lounge in Las Vegas, filed for bankruptcy protection in order to restructure approximately $1 million in Economic Injury Disaster Loans obtained from SBA in 2020 and 2022. These loans are currently in default, and SBA has referred them to the U.S. Department of the Treasury for collection. About Vegas Treasures Inc. Vegas Treasures, Inc. dba 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 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-13582) on June 23, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Paymon Raouf, president and director of Vegas Treasures, signed the petition. Judge Natalie M. Cox oversees the case. Zachariah Larson, Esq., at Larson & Zirzow, LLC, represents the Debtor as legal counsel. VIVA LIBRE: Claims to be Paid From Available Cash and Income ------------------------------------------------------------ Viva Libre Restaurant Concepts Inc., filed with the U.S. Bankruptcy Court for the Central District of California an Original Combined Subchapter V Plan and Disclosure Statement dated July 30, 2025. The Debtor does business as the Blue Agave Southwestern Grill restaurant in Yorba Linda, CA, where it has been in business since 1994 as a local favorite known for its Mexican, South American, and Southwestern cuisine. The restaurant also offers a full bar and catering services for events. Historically financially stable, Debtor filed for Chapter 11 bankruptcy protection with an election to proceed under subchapter V on May 1, 2025 due to severe cash flow constraints stemming from repayment of pandemic era loans and increased competition from newly established restaurants nearby. In particular, the demands of unsecured creditors have contributed to a rent deficiency of approximately $62,831.85 through May 1, 2025 for Debtor's restaurant's commercial lease. The Plan proposes that Debtor will use its projected disposable income over a 60 period to fund the plan. The Debtor projects that its disposable income over that period will be $569,180. That figure is composed of net business proceeds from Viva Libre Restaurant Concepts Inc., less payments under the Plan, including secured claims, and normal operating expenses. Debtor also reserves the option, pursuant to the Plan, to pay all amounts that remain due and owing under the Plan prior to the end of 60. In total, in addition to making regular monthly payments to secured creditors, Debtor proposes to provide approximately $256,304 to fund the Plan (including an estimated $27,000 in cash on hand on the Effective Date and 60 months of its projected net disposable income ($229,304), thus protecting the assets of the bankruptcy estate. Class 3 contains unsecured claims that are not entitled to priority under Code Section 507(a). Each allowed general unsecured claim ("GUC") in this case will not receive any distribution under this Plan during the initial plan term. General unsecured creditors will receive a zero percent recovery on their allowed claims. The rights of holders of Class 3 claims are modified pursuant to the Plan, and such claims are impaired under the Plan. However, if the Debtor generates surplus cash flow above projected amounts, the Plan may be modified to provide distributions to Class 3 claimants subject to Court approval. The Debtor will fund the Plan from the following sources: (a) projected disposable income and (b) cash on hand on the Effective Date, in an amount estimated at $27,000. In addition, Debtor has started business expansion plans thru sign-on with the Caterease, Door Dash, Foodja, Postmates, and Uber Eats online ordering platforms to diversify restaurant revenue. A full-text copy of the Original Combined Plan and Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=rbMa81 from PacerMonitor.com at no charge. Counsel to the Debtor: Gene H. Shioda, Esq. Christopher J. Langley, Esq. Steven P. Chang, Esq. Shioda, Langley & Chang LLP 1063 E. Las Tunas Dr. San Gabriel, CA 91776 Tel: (626) 281-1232 Fax: (626) 281-2919 Email: ghs@slclawoffice.com chris@slclawoffce.com schang@slclawoffice.com About Viva Libre Restaurant Concepts Viva Libre Restaurant Concepts Inc. operates Blue Agave Southwest Grill, a Mexican and Southwestern fusion restaurant based in Yorba Linda, California. The restaurant offers dishes like Mahi Mahi, Mazatlan Mango Wrap and Montego Bay Coconut Shrimp. Viva Libre filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11186) on May 1, 2025. In its petition, the Debtor reported between $500,000 and $1 million in assets and between $1 million and $10 million in liabilities. Judge Theodor Albert handles the case. The Debtor is represented by Christopher James Langley, Esq., at Shioda Langley & Chang, LLP. VSM PROPERTIES: Seeks Court Approval to Tap ReMax Excels as Realtor ------------------------------------------------------------------- VSM Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to employ ReMax Excels as realtor. The Debtor needs a realtor to procure and submit offers to purchase its real property. The realtor will receive a commission of 2.5 percent of the property's sales price. Zach Miller disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The realtor can be reached through: Zach Miller ReMax Excels 200 Lakeside Plaza Loudon, TN 37774 Telephone: (865) 408-1616 Facsimile: (866) 571-0097 About VSM Properties LLC VSM Properties LLC is a real estate management company based in Tellico Plains, Tennessee. It owns commercial properties in the area, including the riverside building at 1641 Cherohala Skyway. VSM Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31124) on June 12, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case. The Debtor is represented by Edward J. Shultz, Esq., at Tarpy, Cox, Fleishman & Leveille, PLLC. WAG! GROUP: Seeks to Hire Triple P TRS as Restructuring Advisor --------------------------------------------------------------- Wag! Group Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Triple P TRS, LLC as restructuring advisor. The firm's services include: (a) assisting in the evaluation and/or development of a short-term cash flow model and/or related liquidity management tools for the Debtors for such purpose(s) as the Debtors may require; (b) assisting in the evaluation and/or development of a business plan and/or such other related forecasts and analyses for the Debtors for such purpose(s) as the Debtors may require; (c) assisting in the evaluation and/or development of various strategic and/or financial alternatives and financial analyses for such purpose(s) as the Debtors may require; (d) assisting the Debtors in its engagement and negotiations with its various constituents, including, without limitation, holders of the Debtors' debt or equity, the Debtors' employees, and the Debtors' customers, vendors, and other commercial counterparties (collectively, "Constituents"), which assistance may include, without limitation, meeting with Constituents, developing presentations and providing management with financial analytical assistance necessary to facilitate such negotiations; (e) assisting in the development and distribution of other information that may be required by the Debtors or the Constituents; (f) assisting in the evaluation and implementation of contingency planning related to the Debtors' commencing these Chapter 11 Cases; (g) assisting in obtaining and presenting information required by parties in interest in these Chapter 11 Cases, including any statutory committees appointed in these Chapter 11 Cases, or by the Court; (h) assisting in the preparation of other business, financial and/or other reporting related to these Chapter 11 Cases, including, but not limited to, development and execution of asset sales, a chapter 11 plan of reorganization for the Debtors, and a disclosure statement for the Plan; and (i) assisting with such other matters as may be requested by the Debtors that are within Portage Point's expertise and otherwise mutually agreeable to Portage Point and the Debtors. Portage Point's hourly rates are: CEO $1,150 Service Line Leader $950 to $995 Managing Director $895 to $950 Director $695 to $800 Vice President $550 to $675 Associate $395 to $450 Portage Point received advance payment retainers totaling $635,902. Steven Shenker, a managing director at Portage Point Partners, assured the court that the firm is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, and does not hold or represent an interest adverse to the Debtors' estates. The firm can be reached through: Steven Shenker Portage Point Partners 640 Fifth Avenue | 10th Floor New York, NY 10019 Phone: (516) 404-1345 Email: sshenker@pppllc.com About Wag! Group Co. Wag! Group Co. is a San Francisco-based digital platform that connects pet owners with dog walkers, sitters, and various pet care professionals. Wag! Group and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11358) on July 21, 2025. In its petition, Wag! Group disclosed between $10 million and $50 million in both estimated assets and liabilities. The Debtors are represented by Young Conaway Stargatt & Taylor, LLP and Latham & Watkins, LLP, Nixon Peabody, and Littler Mendelson PC. Epiq Corporate Restructuring LLC is the Debtors' claims and noticing agent. WAG! GROUP: Taps Epiq Corporate as Administrative Advisor --------------------------------------------------------- Wag! Group Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Epiq Corporate Restructuring LLC as administrative advisor. The firm will render these services: (a) assist with solicitation, balloting and tabulation of votes, and prepare any related reports; (b) prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; (c) assist with preparing and gathering information for the Debtors' schedules of assets and liabilities and statements of financial affairs; (d) provide a confidential data room, if requested; (e) manage and coordinate any distributions pursuant to a Chapter 11 plan; and (f) provide such other processing, solicitation, balloting and other administrative services described in the Engagement Agreement. The hourly rates of the firm's professionals are: IT/Programming $45 - $70 Case Managers $85 - $170 Project Managers/Consultants/Directors $170 - $185 Solicitation Consultant $190 Executive Vice President, Solicitation $190 In addition, the firm will seek reimbursement for out-of-pocket expenses incurred. Epiq shall receive a retainer in the amount of $25,000. Kathryn Tran, a consulting director at Epiq Corporate Restructuring, disclosed in a court filing that the firm is a "disinterested person" within the meaning of 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 Tel: (714) 394-6998 Email: ktran@epiqglobal.com About Wag! Group Co. Wag! Group Co. is a San Francisco-based digital platform that connects pet owners with dog walkers, sitters, and various pet care professionals. Wag! Group and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11358) on July 21, 2025. In its petition, Wag! Group disclosed between $10 million and $50 million in both estimated assets and liabilities. The Debtors are represented by Young Conaway Stargatt & Taylor, LLP and Latham & Watkins, LLP, Nixon Peabody, and Littler Mendelson PC. Epiq Corporate Restructuring LLC is the Debtors' claims and noticing agent. WAG! GROUP: Taps Young Conaway Stargatt as Bankruptcy Counsel ------------------------------------------------------------- Wag! Group Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Young Conaway Stargatt & Taylor, LLP as bankruptcy counsel. The firm's services include: a. providing legal advice with respect to the Debtors' powers and duties as debtors in possession in the continued operation of their business, management of their properties, and the potential sale of their assets; b. preparing documents in connection with and pursuing approval of a disclosure statement and confirmation of a plan; c. preparing, on behalf of the Debtors, necessary applications, motions, answers, orders, reports, and other legal papers; d. appearing in Court and protecting the interests of the Debtors before the Court; and e. performing all other legal services for the Debtors that may be necessary and proper in these Chapter 11 Cases. Compensation will be payable to Young Conaway on an hourly basis, plus reimbursement of actual and necessary expenses incurred by Young Conaway. The firm's hourly rates are: Michael R. Nestor, Partner $1,425 Kara Hammond Coyle, Partner $1,085 Shella Borovinskaya, Associate $615 Kristin L. McElroy, Associate $580 Brynna M. Gaffney, Associate $500 Sarah Gawrysiak, Associate $500 Joshua J. Hall, Associate $500 Beth Olivere, Paralegal $385 The firm received retainer payments in the amounts of $50,000 on June 17, 2025, which was thereafter supplemented in the amount of $200,000 on July 8, 2025, and $100,000 on July 17, 2025. Kara Hammond Coyle, a partner at Young Conaway Stargatt & Taylor, 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: Kara Hammond Coyle, Esq. Jared W. Kochenash, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP 1000 North King Street Wilmington, DE 19801 Telephone: (302) 571-6600 Facsimile: (302) 571-1253 Email: kcoyle@ycst.com jkochenash@ycst.com About Wag! Group Co. Wag! Group Co. is a San Francisco-based digital platform that connects pet owners with dog walkers, sitters, and various pet care professionals. Wag! Group and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11358) on July 21, 2025. In its petition, Wag! Group disclosed between $10 million and $50 million in both estimated assets and liabilities. The Debtors are represented by Young Conaway Stargatt & Taylor, LLP and Latham & Watkins, LLP, Nixon Peabody, and Littler Mendelson PC. Epiq Corporate Restructuring LLC is the Debtors' claims and noticing agent. WELLMADE FLOOR: Seeks Chapter 11 Bankruptcy in Georgia ------------------------------------------------------ On August 4, 2025, Wellmade Floor Coverings International Inc. filed Chapter 11 protection in the Northern District of Georgia. 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 Wellmade Floor Coverings International Inc. Wellmade Floor Coverings International Inc. manufactures and distributes hard-surface flooring products, including bamboo, hardwood, and vinyl. The privately owned Company is based in the United States, with a manufacturing facility in Cartersville, Georgia, and sales offices and warehousing in Portland, Oregon. A non-debtor affiliate operates in China. Wellmade Floor Coverings International Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the case. The Debtor is represented by John D. Elrod, Esq. at Allison J. McGregor, Esq. at GREENBERG TRAURIG, LLP. The Debtors' Claims, Noticing, Solicitation & Administrative Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. WELLMADE FLOOR: Seeks to Sell Floor Covering Manufacturing Assets ----------------------------------------------------------------- Wellmade Floor Coverings International Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to sell Assets, free and clear of liens, claims, interest, and encumbrances. The Debtor specializes in the design, production, and distribution of market top-line hard surface flooring collections. Established in 2001, the company initially focused on solid and engineered bamboo. In 2015, Wellmade invented and patented High-Density Polymer Composite Core (HDPC), a rigid core topped with a vinyl wearlayer. HDPC offers distinct advantages over other rigid core materials, including complete waterproofing, enhanced heat resistance, and increased density while providing superior flexibility. The Debtor designs, manufactures, and sells waterproof vinyl plank and tile, waterproof natural hardwood flooring, and waterproof strand woven bamboo flooring. Forging a new trend in the industry with its first-to-market waterproof hardwood and bamboo, the Company remains at the forefront of flooring technology and continues to diversify both its product offerings and sales channels throughout the United States and abroad. The goal of the chapter 11 cases is to consummate a sale of the Debtors' assets that will maximize recoveries for the Debtors’ estates and allow the Debtors' business to continue as a going concern. The Debtors retained Hilco Corporate Finance as their investment banker to conduct an extensive and comprehensive marketing process for a sale of the Debtors as a going concern. The Debtors, together with Hilco, launched the Marketing Process in May 2025 and contacted approximately 100 potential buyers, which included a broad range of potential strategic and financial buyers. The Debtors believe that the sale process, with the benefit of the additional postpetition marketing process proposed herein, will be of sufficient length and breadth to reach the full universe of parties likely to be interested in the Debtors' Assets given the Debtors' liquidity and time constraints. The Debtors have entered into the Stalking Horse Agreement with AHF IC, LLC as the stalking horse bidder with the purchase price of $40,000,000. The Stalking Horse Purchase Agreement is not conditioned on financing or the completion of additional due diligence. Furthermore, under the terms of the Stalking Horse Purchase Agreement and the proposed Bidding Procedures, the Debtors will solicit competing bids and, in the event the Debtors receive another qualified bid, conduct an efficient and fair auction of their business to determine whether any other higher and better offers can be obtained. A Sale is the only option that will enable the Debtors to preserve the value of their assets, maintain their business operations for the benefit of vendors, service providers and customers, ensure that most employees will be able to keep their jobs, and maximize the recoveries for the Debtors' estates. In connection with the Stalking Horse Purchase Agreement, the Debtors have agreed to provide certain bid protections to the Stalking Horse Bidder, in the form of a break-up fee equal to $600,000 as set forth in the Stalking Horse Purchase Agreement and an expense reimbursement of up to $400,000 (Bid Protection). The break-up fee and expense reimbursement will be due and payable to a Stalking Horse Bidder only in the event an Alternative Transaction (as such term is defined in the Stalking Horse Purchase Agreement) is consummated and the Stalking Horse Bidder is otherwise not in material breach of the Stalking Horse Purchase Agreement. Ultimately, the Stalking Horse Purchase Agreement maximizes the value of the Debtors' Assets and will yield the best outcome for stakeholders by preserving jobs for employees' and a viable business for continued relations with vendors and service providers. The requested dates and deadlines are subject to the Court's availability and approval and may also be modified by the Debtors to the extent permitted under the Bidding Procedures Order and Bidding Procedures: -- Bidding Procedures: Hearing August 21, 2025 -- Sale Objection Deadline: September 19, 2025 -- Bid Deadline: September 19, 2025 -- Auction: September 23, 2025 -- Notice of Successful Bidder and Backup Bidder: September 24, 2025 -- Post-Auction Objection Deadline: September 24, 2025 -- Sale Hearing: September 29, 2025 The Bidding Procedures are designed to maximize value for the Debtors' estates, while effectuating an efficient sale of the Debtors' Assets. Importantly, the Bidding Procedures recognize and comply with the Debtors' fiduciary obligations to maximize sale value and, as such, (a) do not impact the Debtors' ability to consider all Qualified Bids made at or prior to the Auction and (b) preserve the Debtors’ right to modify the Bidding Procedures as necessary or appropriate to maximize value for the Debtors' estates. The Debtors respectfully submit that the Auction and Sale Notice, the Notice of Potential Assumption and Assignment (as defined below), and Notice of Successful Bidder (as applicable) provide all interested parties with timely and proper notice of the proposed Sale, including: (a) the date, time, and place of the Auction (if one is held); (b) the Bidding Procedures; (c) the deadline for filing objections to the Sale and entry of the Sale Order, and the date, time, and place of the Sale Hearing; (d) instructions for promptly obtaining a copy of the Stalking Horse Purchase Agreement; (e) a description of the Sale as being free and clear of all Interests, with all such Interests attaching with the same validity and priority to the Sale proceeds; and (f) notice of the proposed assumption and assignment of executory contracts and unexpired leases to the Stalking Horse Bidder pursuant to the Stalking Horse Purchase Agreement (or to another Successful Bidder). The Debtors intend to serve the Notice of Potential Assumption and Assignment as soon as practicable following entry of this Bidding Procedures Order. About Wellmade Floor Coverings International Inc. Wellmade Floor Coverings International, Inc., manufactures and distributes hard-surface flooring products, including bamboo, hardwood, and vinyl. The privately owned company is based in the United States, with a manufacturing facility in Cartersville, Georgia, and sales offices and warehousing in Portland, Oregon. A non-debtor affiliate operates in China. Wellmade Floor Coverings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ge) on August 4, 2025. The petitions were signed by David Baker as chief restructuring, disclosing that the lead Debtor's estimated Assets are $50 million to $100 million and estimated liabilities of $10 million to $50 million. officer. Debtor Case No. ------ ------ Wellmade Floor Coverings International, Inc. (Lead) 25-58764 Wellmade Industries MFR. N.A LLC 25-58760 Judge Sage M. Sigler presides over the case. Debtors' Bankruptcy Counsel: John D. Elrod, Esq. Allison J. McGregor, Esq. GREENBERG TRAURIG, LLP 3333 Piedmont Road NE, Suite 2500 Atlanta GA 30305 Tel: 678-553-2259 Fax: 678-553-2269 Email: ElrodJ@gtlaw.com Allison.McGregor@gtlaw.com Debtors' Claims, Noticing, Solicitation & Administrative Agent: KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL WHITE VIOLET: Hires Ascendant Law Group as Bankruptcy Counsel ------------------------------------------------------------- White Violet Property, LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Ascendant Law Group LLC 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 businesses and properties; (b) represent the Debtor at all hearings and matters pertaining to its affairs; (c) attend meetings and negotiate with representatives of the Debtor's creditors and other parties-in-interest; (d) take all necessary action to protect and preserve the Debtor's estate; (e) prepare on behalf of the Debtor all necessary and appropriate legal papers necessary to the administration of its estate; (f) review applications and motions filed in connection with the Debtor's bankruptcy case; (g) negotiate and prepare on the Debtor's behalf any plan of reorganization, disclosure statement, and all related agreements and/or documents, and take any necessary action on its behalf to obtain confirmation of such plan; (h) advise the Debtor in connection with any potential sale or sales of assets or its business, or in connection with any other strategic alternatives; (i) review and evaluate the Debtor's executory contracts and unexpired leases, and represent it in connection with the rejection, assumption or assignment of such leases and contracts; (j) represent the Debtor in connection with any adversary proceedings or automatic stay litigation which may be commenced by or against the Debtor; (k) review and analyze various claims of the Debtor's creditors and treatment of such claims, and prepare, file, or prosecute any objections thereto; and (l) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with its bankruptcy case. The firm will be paid at these hourly rates: Jesse Redlener, Member $420 Lee Harrington, Member $420 Matthew Ginsburg, Member $420 In addition, the firm will seek reimbursement for expenses incurred. Mr. Redlener 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: Jesse Redlener, Esq. Ascendant Law Group LLC 2 Dundee Park Dr., Ste. 102 Andover, MA 01810 Telephone: (978) 393-0850 About White Violet Property White Violet Property, LLC owns a portfolio of commercial real estate in Wakefield, New Hampshire. Its holdings include a filling station and convenience store at 393 Meadow Street, the Sanbornville Post Office at 378 Meadow Street, and adjacent parcels at 376 Meadow Street and along the east side of White Mountain Highway (Route 16). The properties total approximately 21 acres and are primarily leased or commercially zoned. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-30420) on July 14, 2025, with $2,635,000 in assets and $1,150,610 in liabilities. Paul D. Quinn, manager, signed the petition. Jesse Redlener, Esq., at Ascendant Law Group, LLC represents the Debtor as bankruptcy counsel. WHITEEAGLE PROPERTIES: Seeks to Tap Mark J. Lazzo as Legal Counsel ------------------------------------------------------------------ Whiteeagle Properties 22 Corp. seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Mark J. Lazzo, PA as counsel. The firm will assist in preparing and presenting to the court schedules, a Plan, review of claims, negotiation with creditors, arranging and negotiating sales, and the filing of adversary actions. The firm will be paid at these hourly rates: Mark Lazzo, Attorney $350 Justin Balbierz $350 Mr. Lazzo disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Mark J. Lazzo, Esq. Mark J. Lazzo, P.A. 3500 N. Rock Road Bldg. 300, Suite B Wichita, KS 67226 Telephone: (316) 263-6895 Email: mark@lazzolaw.com About Whiteeagle Properties 22 Corp. Whiteeagle Properties 22 Corp. is a property company based in Lindsborg, Kansas that operates in the real estate sector. Whiteeagle Properties 22 Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-10770) on July 28, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mitchell L. Herren handles the case. The Debtor is represented by Mark J. Lazzo, Esq. at Landmark Office Park. WILLIAMSON: Summary Judgment, Fee Award in Mitchell/Roberts Upheld ------------------------------------------------------------------ In the appeal styled MITCHELL/ROBERTS PARTNERSHIP, an Illinois General Partnership; REBA L. MITCHELL, Trustee and Beneficiary of the Robert H. Mitchell Residual Trust; CARL INMAN, Independent Executor of the Estate of Russell J. Inman, Deceased; CAROL DEAN CRABTREE; NELDA BALDWIN, Personal Representative of the Estate of Beverly B. Adams, Deceased; NELDA BALDWIN, Personal Representative of the Estate of Katherine Baldwin, Deceased; DAVID SENSENEY, Executor of the Estate of Margueritte Boos, Deceased; and CEDAR CREST MINERALS, LLC, Plaintiffs-Appellants and Counterclaim Defendants, v. WILLIAMSON ENERGY, LLC, a Delaware Limited Liability Company, Defendant-Appellee and Counterclaim Plaintiff, No. 14-MR-285 (Ill. App. Ct.), Justices Michael McHaney, Barry L. Vaughan and Amy Sholar of the Appellate Court of Illinois, Fifth District, affirmed the grant of summary judgment by the Circuit Court of Williamson County in favor of Williamson Energy, LLC and award of attorney's fees. The appellants, Mitchell/Roberts Partnership, an Illinois general partnership, Reba L. Mitchell, trustee and beneficiary of the Robert H. Mitchell Residual Trust, Carl Inman, independent executor of the estate of Russell J. Inman, deceased, Carol Dean Crabtree, Nelda Baldwin, personal representative of the estate of Beverly B. Adams, deceased, Nelda Baldwin, personal representative of the estate of Katherine Baldwin, deceased, David Senseney, executor of the estate of Margueritte Boos, deceased, and Cedar Crest Minerals, LLC (the Partnership), appeal the following orders: -- the circuit court's grant of summary judgment in favor of appellee Williamson Energy, LLC, and against the Partnership dated February 9, 2024; -- the order awarding attorney fees to Williamson Energy in the amount of $2,929,814.28; the order granting Williamson Energy's bill of costs; -- the order denying the Partnership's motion to reconsider; -- the order denying the Partnership's motion for clarification; -- the order granting summary judgment in favor of Williamson Energy dated September 14, 2023; the order establishing judicial admissions; -- a portion of the order dated July 21, 2022, striking paragraphs 6, 7, 9, and 10 of Robin Kee Williams' affidavit; -- the order denying the Partnership's combined motion to dismiss Williamson Energy's second amended counterclaim pursuant to section 2-619.1 of the Code of Civil Procedure (735 ILCS 5/2-619.1 (West 2022)) as to counts I and II via docket entry dated March 1, 2022; and -- the entirety of the order resolving the Partnership's motion to dismiss, including, but not limited to, those portions of said order which denied its section 2-619 motion for dismissal. The Partnership requests that the circuit court's orders be reversed; that said summary judgment and orders be vacated; and the case be remanded to the circuit court with directions to enter judgment in their favor, or, in the alternative, that said judgment and orders be reversed and the case be remanded for a trial on all issues. This appeal involves two mitigation agreements and releases signed by Robin Lynne Kee Williams and John Milo Kee. The Kees were general partners in the Partnership at the time they signed the documents. The circuit court concluded these agreements waived all claims for subsidence damage arising from Williamson Energy's mining operations. At summary judgment, the circuit court found the Partnership and the partners had breached the agreements by filing suit on claims they had waived. The circuit court also found that under the agreements, Williamson Energy was entitled to attorney fees. After a hearing to determine reasonable attorney fees, the circuit court entered judgment in favor of Williamson Energy in the amount of $2,929,814.28. The Partnership and all the partners except the Kees appeal both the grant of summary judgment and the award of fees. The Partnership posits two claims of error: (1) the circuit court erred in granting summary judgment in favor of Williamson Energy, and (2) the circuit court abused its discretion in awarding $2,929,814.28 in attorney fees. The Partnership contends the circuit court abused its discretion in awarding $2,929,814.28 in attorney fees because the attorney fees clause was not binding on the Partnership or the individual partners; the circuit court erred in allowing nearly $1,398,000 in block-billed time and in rejecting their objections to the attorney fees. According to the Justices, "The Partnership failed to carry its burden. Rather than presenting competent, admissible evidence, the Partnership relied heavily on legal arguments regarding, for example, standing, judicial estoppel, judicial admissions, and unconscionability. These legal arguments lack evidentiary support in the record to be considered genuine issues of material fact. " They conclude, "There was no genuine issue of material fact that would preclude the circuit court's grant of summary judgment in favor of Williamson Energy's second amended counterclaim and find no error with the trial court's adjudication of the attorney fee award. For the foregoing reasons, we affirm the circuit court's judgment." A copy of the Court's Opinion dated August 6, 2025, is available at https://urlcurt.com/u?l=rXHhdn About Foresight Energy Foresight Energy and its subsidiaries -- http://www.foresight.com/ -- are producers of thermal coal, with four mining complexes and nearly 2.1 billion tons of proven and probably coal reserves strategically located near multiple rail and river transportation access points in the Illinois Basin. The Debtors also own a barge-loading river terminal on the Ohio River. From this strategic position, the Debtors sell their coal primarily to electric utility and industrial companies located in the eastern half of the United States and across the international market. Foresight Energy LP and its affiliates sought Chapter 11 protection (Bankr. E.D. Mo. Lead Case No. 20-41308) on March 10, 2020. The Hon. Kathy A. Surratt-States is the case judge. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to Foresight Energy; Jefferies Group is acting as investment banker; and FTI Consulting, Inc. is acting as financial advisor. Prime Clerk LLC served as the claims agent. Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel and Lazard Freres & Co. LLC is acting as investment banker to the Ad Hoc Lender Group representing lenders under the first lien credit agreement. Milbank LLP is acting as legal counsel and Perella Weinberg Partners LP is acting as investment banker to the Ad Hoc Lender Group representing crossover lenders under each of the second lien indenture and first lien credit agreement. The Debtors were estimated to have $1 billion to $10 billion in assets and liabilities. WISDOM DENTAL: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Wisdom Dental, P.A. Ave Maria Dentistry 5064 Annunciation Circle Suite 101 Ave Maria FL 34142 Case No.: 25-01508 Business Description: Wisdom Dental, P.A. operates a dental clinic under the name Ave Maria Dentistry from its location in Ave Maria, Florida. The practice provides preventive, restorative, and cosmetic dental services and is led by Dr. Wisdom D. Akpaka. The company was incorporated in Florida in 2015. Chapter 11 Petition Date: August 6, 2025 Court: United States Bankruptcy Court Middle District of Florida Judge: Hon. Caryl E Delano Debtor's Counsel: Michael Dal Lago, Esq. DAL LAGO LAW 999 Vanderbilt Beach Rd. Suite 200 Naples FL 34108 Tel: 239-571-6877 Email: mike@dallagolaw.com Total Assets: $223,970 Total Liabilities: $2,851,770 The petition was signed by Wisdom Akpaka as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YPF4B5Y/Wisdom_Dental_PA__flmbke-25-01508__0001.0.pdf?mcid=tGE4TAMA WOLF MIDSTREAM: DBRS Confirms BB(high) Issuer Rating ---------------------------------------------------- DBRS Limited confirmed Wolf Midstream Canada LP's (Wolf or the Company) Issuer Rating and Senior Unsecured Notes credit rating at BB (high). The recovery rating on the Senior Unsecured Notes remains unchanged at RR4. All trends are Stable. KEY CREDIT RATING CONSIDERATIONS Wolf's credit ratings are supported by relatively stable cash flows generated from long-term take-or-pay (ToP) and firm purchase obligations (Firm) contracts across its three business segments and its reasonably diversified portfolio of assets. The credit ratings are constrained by the business' residual volume and commodity risks and the large capital expenditure (capex) program over the next two years. The Company's operating performance in 2024 was in line with Morningstar DBRS' expectations. Approximately 80% of the Company's adjusted EBITDA in 2024 was generated under ToP and Firm contracts. The Company's NGL North Phase Two project continues to progress on schedule and within budget. Morningstar DBRS does not expect Dow Inc.'s announced delay in its petrochemical project in Alberta to have a material impact on the schedule of NGL North Phase Two or on Wolf's earnings over the near term. Morningstar DBRS notes that one of the Company's key counterparties, MEG Energy Corp. (MEG), is the subject of a takeover bid from Strathcona Resources Ltd. (Strathcona). While the weighted-average tenor of Wolf's contracts (approximately 20 years) is longer than those of its Morningstar DBRS-rated peers, the contribution of investment-grade counterparties, which Morningstar DBRS estimates at 55% to 60% of EBITDA, is relatively lower. A successful bid by Strathcona for MEG could potentially increase the counterparty quality, as MEG accounts for approximately 36% of Wolf's 2024 EBITDA. Wolf is well diversified for its current credit ratings and will have a meaningful presence in each of its three business segments once key expansion projects are completed in mid-2027. The credit ratings are constrained by price and volume risks predominantly present at the Company's natural gas liquids (NGL) segment. The credit ratings are also constrained by the Company's large capex plan, with approximately $800 million remaining to be spent as of mid-2025 through mid-2027. CREDIT RATING DRIVERS Morningstar DBRS could take a positive credit rating action if the Company successfully completes its expansion projects and maintains its cash flow-to-debt consistently above 15%. Morningstar DBRS could downgrade the credit ratings if the Company's cash flow-to-debt ratio weakens below 10% on a sustained basis. EARNINGS OUTLOOK Morningstar DBRS expects Wolf's EBITDA in 2025 to decline modestly relative to 2024 because of lower commodity prices affecting the NGL segment. Under Morningstar DBRS' base-case assumptions, EBITDA is expected to increase modestly in 2026 relative to 2025 before growing materially in 2027 once the expansion projects are placed in service. FINANCIAL OUTLOOK Morningstar DBRS expects Wolf's cash flow from operations to modestly decline in 2025 and 2026 relative to 2024 as a result of lower commodity prices affecting the NGL segment and cash taxes. However, Morningstar DBRS expects the Company's credit metrics to remain supportive of the current credit ratings. CREDIT RATING RATIONALE Comprehensive Business Risk Assessment (CBRA): BBH Wolf's CBRA of BBH reflects its strong contractual position. The business risk score also factors in the competitive environment across the Company's business segments. The CBRA also incorporates, through a negative adjustment, the price and volume risk associated with the Company's NGL segment. Comprehensive Financial Risk Assessment (CFRA): BBH/BB Wolf's CFRA of BBH/BB reflects its stable financial metrics for the current credit rating category and Morningstar DBRS' expectation that the Company's financial profile will improve once the significant capital spend is completed in mid-2027. Morningstar DBRS expects the Company's debt levels to increase over the near and medium term but to remain manageable despite elevated capital spend in 2025 and 2026. Despite significant capex over the next two years, Morningstar DBRS expects Wolf's credit metrics to remain supportive of the current credit ratings. Capex is expected to slow materially in 2027 as the Company's projects are placed into service, with leverage metrics expected to improve post-2027. The CFRA also incorporates, through a negative adjustment, the price and volume risk associated with the Company's NGL segment and the ongoing capex plan, with approximately $800 million of the total $1.1 billion in project costs remaining to be spent as of mid-2025 through mid-2027. Intrinsic Assessment (IA): BBH The IA of BBH represents the midpoint of the Intrinsic Assessment Range and is based on the CBRA and CFRA, also taking into consideration the current credit rating trend and peer comparisons, among other factors. Additional Considerations: None Wolf's credit ratings include no further negative or positive adjustments because of additional considerations. 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