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250812.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, August 12, 2025, Vol. 29, No. 223 Headlines 1 SANDPIPER: Hires All Keys Appraisal as Real Estate Appraiser 1103 FRANKLIN: Hires Julio E. Portilla P.C. as Bankruptcy Counsel 11501 WILLIAM: Hires Law Office of Donald L. Bell LLC as Counsel 138 GREENE: Claims to be Paid from Property Sale Proceeds 26 CAPITAL: Seeks to Hire Cross & Simon LLC as Bankruptcy Counsel 26 CAPITAL: Seeks to Hire Nixon Peabody LLP as Bankruptcy Counsel 33 MAKO: Hires Kucker Marino Winiarsky & Bittens as Legal Counsel 421 REMSEN: Hires Tarter Krinsky & Drogin LLP as Counsel 4504 15th AND 1476: Creditors to Get Proceeds From Liquidation 4901 16TH: Court Extends Cash Collateral Access to Sept. 19 5612 9TH AVE: Hires Ronald D. Weiss P.C. as Legal Counsel 5801 PATTON: Hires Pendergraft & Simon as Legal Counsel 5902 HUDSON: Capital Contributions to Fund Plan Payments A&M SMART: Seeks to Hire Gold Weems Bruser as Counsel A.I. BUILDERS: Bankruptcy Administrator Unable to Appoint Committee AETIUS COMPANIES: Ward and Smith Files Rule 2019 Statement AFM MATTRESS: Committee Retains Cozen O'Connor as Counsel AFM MATTRESS: Committee Retains Levenfeld Pearlstein as Counsel AGDP HOLDING: Gets Interim OK to Obtain DIP Loan From Alter Domus ALBANY INN: Seeks to Hire Goetz Platzer LLP as Counsel ALL IN PROFITS: Section 341(a) Meeting of Creditors on August 28 ALTISOURCE PORTFOLIO: Warrants Now Exercisable After VWAP Trigger AMERIGO METAL: Hires Rountree Leitman Klein & Geer as Legal Counsel ARC-IV LLC: Hires Law Offices of Michael Jay Berger as Counsel ARC-V LLC: Hires Law Offices of Michael Jay Berger as Counsel ARCHANGEL DISCIPLINES: Seeks to Hire DASA Law as Attorney ASCEND PERFORMANCE: Hires Province LLC as Financial Advisor AT HOME GROUP: Committee Taps FTI Consulting as Financial Advisor AT HOME GROUP: Committee Taps Pachulski Stang as Counsel ATTLEBORO REALTY: Amends Unsecured Claims Pay Details B & W ENTERPRISES: Hires Gold Weems Bruser Sues as Counsel BACK DRAUGHTS: Seeks to Hire Erik Johanson as Bankruptcy Counsel BALAJIO LLC: Gets Interim OK to Use Cash Collateral Until Sept. 4 BEL TEMPO: U.S. Trustee Unable to Appoint Committee BENGODWIN REALTY: Voluntary Chapter 11 Case Summary BESPOKE CONSTRUCTION: Final Cash Collateral Hearing Set for Sept. 8 BISHOP OF FRESNO: Taps Blank Rome LLP as Special Insurance Counsel BLUE HAWK: Seeks to Hire Totaro & Shanahan LLP as Counsel BMI OLDCO: Seeks to Co-Retain Province as Financial Advisor BOKQUA LLC: Seeks to Hire Kutner Brinen Dickey Riley as Counsel BOTICA LLC: Hires Schreeder Wheeler & Flint as Counsel BOUNDLESS BROADBAND: Chiesa & Rosner Law File Rule 2019 Statement BRIGHTLINE TRAIN FLORIDA: Bondholders Tap Lawyers for Debt Talks BRIGHTLINE TRAINS: S&P Lowers Unenhanced Bonds Rating to 'BB-' BULLER MEDIA: Gets Final OK to Use Cash Collateral BULLER MEDIA: Hires Joel A. Schechter as Bankruptcy Counsel CARAWAY TEA: Hires Freedom Financial Solutions as Accountant CAROLINA'S CONTRACTING: Hires Donald Tedder CPA as Accountant CLAIRE'S STORES: Plans to Close Over 1,100 Stores in Ch. 11 Filing CLEVER BEING: Section 341(a) Meeting of Creditors on September 9 COGLIANO INTEGRATED: Taps Nicholson Devine LLC as Legal Counsel COMMSCOPE HOLDING: Sells CCS Segment to Amphenol for $10.5 Billion COZY HARBOR: Taps Corporate Finance Associates as Business Broker CS-ORED LLC: Seeks Chapter 11 Bankruptcy in California D & M VENTURES: Hires Law Office of H. Anthony Hervol as Counsel D TUR HOTEL: Gets Final OK to Use Cash Collateral DATAVAULT AI: Inks $12M Registered Direct Convertible Note Deal DEL MONTE: Hires Cole Schotz as Bankruptcy Co-Counsel DEL MONTE: Hires Herbert Smith Freehills as Legal Counsel DEL MONTE: Retains PJT Partners LP as Investment Banker DEL MONTE: Seeks to Hire Stretto Inc. as Administrative Advisor DIACARTA INC: Hires Law Offices of Michael Jay Berger as Counsel DIAMOND RENOVATIONS: Hires Norred Law PLLC as Counsel DIOCESE OF NEW ORLEANS: First Bank Out as Committee Member DR. JOHN DAIGNAULT: Taps Nicholson Devine LLC as Legal Counsel DUNBAR PROPERTIES: Hires Garden State as Insurance Adjuster DXP ENTERPRISES: Moody's Affirms 'B1' CFR, Outlook Stable E2OPEN LLC: S&P Withdraws 'B' Issuer Credit Rating, Outlook Stable EASTMAN KODAK: Issues Going Concern Warning After Shares Fall ELMA TRANSPORT: Court Extends Cash Collateral Access to Aug. 29 ERS MEDICAL: Seeks to Tap Farsad Law Office as Bankruptcy Counsel ESCO OIL: Unsecured Creditors to Get 16.6 on Dollar in Plan FLUID MARKET: Plans Liquidation After Asset Sale FOUR HATS: Unsecureds Will Get 4.14% via Quarterly Payments FRESH ACQUISITIONS: Plan Trustee Appeals Removal, Seeks Stay GALLERY 515: Enters Receivership After Defaulting Loan GENESIS HEALTHCARE: Hires Jefferies LLC as Investment Banker GENESIS HEALTHCARE: Taps Ankura Consulting as Restructuring Advisor GENESIS HEALTHCARE: Taps Katten Muchin Rosenman as Special Counsel GENESIS HEALTHCARE: Taps McDermott Will & Emery as Legal Counsel GWA LLC: Hires Morgan Lewis & Bockius as Special Tax Counsel GYLMAR DEVELOPMENTS: Files Emergency Bid to Use Cash Collateral GYLMAR DEVELOPMENTS: Hires Lessne Hoffman as Bankruptcy Counsel HIDDEN PATH: Seeks to Hire Barron & Newburger as Legal Counsel HOLLOWELL VENTURES: Lender Seeks to Prohibit Cash Collateral Access HOWARD UNIVERSITY: Moody's Alters Outlook on 'Ba1' Issuer to Stable HUNTINGTON GLEN: Gets Interim OK to Use Cash Collateral HYPERSCALE DATA: Prelim Q2 Results Show $27M Cash, $214M Assets ICON LLC: Seeks to Hire Morris Palerm LLC as Bankruptcy Counsel IPG FRANCHISING: Case Summary & 18 Unsecured Creditors IXS HOLDINGS: S&P Rates New Amended $645MM First-Lien Term Loan J4G LLC: Seeks to Hire Lane Law Firm as Legal Counsel JAL HOLDINGS: Unsecureds to Get Share of Income for 3 Years JBSB DESTINY: Unsecured Creditors Will Get 39.34% over 5 Years JD HUNT: Hires Hayward PLLC as General Bankruptcy Counsel JJ PFISTER: Claims to be Paid from Asset Sale Proceeds JOSEPH G. BABA: Hires Dunning & Associates CPAs LLC as Accountant JOSEPH G. BABA: Hires Prelle Eron & Bailey P.A. as Counsel KAMC HOLDINGS: Moody's Withdraws 'B3' CFR Following Debt Repayment KAMC HOLDINGS: S&P Withdraws 'B-' ICR Following Debt Repayment KLARVIO LLC: Gets Interim OK to Use Cash Collateral Until Aug. 27 KLARVIO LLC: Seeks to Tap Lane Law Firm PLLC as Bankruptcy Counsel L.D. LYTLE: Hires Joyce W. Lindauer Attorney PLLC as Counsel LAVENDER LANDSCAPE: Voluntary Chapter 11 Case Summary LESLIE'S POOLMART: S&P Downgrades ICR to 'CCC+', Outlook Negative LET'S REPAIR: Seeks Subchapter V Bankruptcy in Washington LHW CONSTRUCTION: Seeks Subchapter V Bankruptcy in California LIFT SOCIETY: Hires Mirsky Corporate Advisors as Special Counsel LINQTO INC: Judge Refuses to Move Ch. 11 Case to Delaware LMD HOLDINGS: Hires Robert Bassel Esq. as Counsel LYNNHAVEN SCHOOL: Gets Interim OK to Use Cash Collateral M & N STRUCTURES: Cash Collateral Hearing Set for Aug. 13 M.I.S. COMMODITIES: Claims to be Paid from Future Income MADDISON REVOCABLE TRUST: Seeks Chapter 11 Bankruptcy in Georgia MAT TRANSPORT: Unsecureds Will Get 6% of Claims in Plan MCCLAIN FAMILY: Unsecureds Will Get 38.80% of Claims over 5 Years MIRAMAR TOWNHOMES: Taps Institutional Property Advisors as Expert MODEL TOBACCO: Trustee Hirschler Fleischer as Special Counsel MODERN EYE: Amends Several Secured Claims Pay Details MOSAIC COMPANIES: Claims to be Paid from Asset Sale Proceeds NEAREST GREEN DISTILLERY: Lender Seeks Appointment of Receiver NUMALE CORP: Trustee Taps Burr & Forman as Special Counsel OCUGEN INC: Posts $14.7M Net Loss on $1.4M Revenue in Fiscal Q2 PA NATURAL: Licensed Cannabis Dispensary Up for Sale on August 12 PAP-R PRODUCTS: Hires Hoeman Capital Management as Business Broker PBREIA LLC: Seeks to Hire Hilco Real Estate as Exclusive Agent PINEY POINT: Amends Fannie Mae Secured Claims Pay PRECISION MEDICINE: S&P Affirms 'B-' ICR Following Dividend Recap PRIME DEVELOPMENT: Unsecureds Will Get 0.3% Dividend over 12 Months PRINCE LAND: Gets Interim OK to Use Cash Collateral PROFESSIONAL MAIL: Bankr. Administrator Unable to Appoint Committee PUERTO RICO: Board Ouster Complicates PREPA Bankruptcy Battle RED ROCK: Hires A. Bischoff of adTumbler as Financial Consultant REDBIRD REALTY: Seeks Chapter 11 Bankruptcy in Oklahoma RICHFIELD NURSING: Hires Jerome Yellin & Zigdon PC as Accountant RISE MANAGEMENT: Amends Bank of America Secured Claim Pay ROYAL REALTY: Unsecureds to Recover Up to 100% of Claims in Plan S&H STEEL: Trustee Hires Watkins & Eager PLLC as Counsel SAY IT VISUALLY: Seeks Subchapter V Bankruptcy in Washington SCHAFER FISHERIES: Court Extends Cash Collateral Access to Sept. 3 SD BACKYARD: Hires Robberson Schroedter LLP as Counsel SDJ MAYPEARL: Hires Joyce W. Lindauer Attorney PLLC as Counsel SERENE HEALTH: Seeks Approval to Hire Patrick Gros as CPA SINCLAIR INC: Mulls Sale of TV Stations, Other Assets SIX COOKS: Case Summary & 19 Unsecured Creditors SKYLINE EMS: Seeks to Hire Hector M. Rivera as Accountant SLATER PARK: Claims to be Paid from Net Revenue SOLAR MOSAIC: States Oppose Sale of Consumer Credit Contracts SOUTHWEST FT WORTH: Files Amendment to Disclosure Statement SPIRIT AIRLINES: Cash Shortfall Prompts Going Concern Alert STAFFING 360: Court Imposes Stock Trading Requirements TALKTALK GROUP: Weil Advises Ares on New Funding Facilities TEAM CHAMPIONS: Case Summary & 20 Largest Unsecured Creditors TECH RABBIT: Unsecureds Will Get 25% of Claims over 60 Months THE BURGUNDIAN: Court Extends Cash Collateral Access to Oct. 5 THUNDER RIDE: Hires Elementary Business as Financial Advisor TORPAGO INC: Priority Tech to Hold Public Sale on August 18 TRILLER HOLD: Yorkville to Sell Three Million BKFC Shares on August TYLER 2: Creditor Seeks to Prohibit Cash Collateral Access UPBOUND GROUP: Moody's Rates New $1.1BB First Lien Term Loan 'Ba2' VARSOBIA HOME: Hires Michael G. Spector as Bankruptcy Counsel VEGAS CUSTOM: Seeks to Hire Leavitt Legal as Legal Counsel VERTIV GROUP: Moody's Raises CFR to Ba1 & Alters Outlook to Stable VSBROOKS INC: Gets Interim OK to Use Cash Collateral Until Aug. 31 VSBROOKS INC: Seeks to Hire Agentis PLLC as Counsel W.D. TOWNLEY: Hires Berkshire Group Limited as Financial Advisor WATCHTOWER FIREARMS: Employs Ordinary Course Professionals WAYSTAR HOLDING: New $250MM Term Loan No Impact on Moody's 'B1' CFR WEABER INC: Hires Ciardi Ciardi & Astin as Bankruptcy Counsel WEST CENTRO: Amends Bank of America Secured Claim Pay Details WOHALI LAND: Voluntary Chapter 11 Case Summary WOLFE-BLURTON FUNERAL: Taps Sgro Hanrahan Durr as Attorney WOLFSPEED INC: Hires Ernst & Young LLP as Tax Service Provider WOLFSPEED INC: Hires FTI as Financial Advisor, Appoints CRO/DCRO WOLFSPEED INC: Hires Hunton Andrews Kurth as Bankruptcy Co-Counsel WOLFSPEED INC: Hires KPMG LLP as Accounting and Tax Advisor WOLFSPEED INC: Seeks to Hire Latham & Watkins LLP as Legal Counsel WOLFSPEED INC: Taps Katten Muchin Rosenman LLP as Special Counsel WOLFSPEED INC: Taps Perella Weinberg Partners as Investment Banker WORKHORSE GROUP: Inks New Exclusivity Deal With EV Manufacturer WT REPAIR: Hires DMBruce Owner Solutions as Accountant WYNDSTON MILLWORK: Unsecureds to Get Share of Income for 5 Years YS GARMENTS: S&P Lowers ICR to 'CCC-' on Heightened Default Risk [] Falmouth Casino Wharf Condominiums Up for Sale on August 20 ********* 1 SANDPIPER: Hires All Keys Appraisal as Real Estate Appraiser -------------------------------------------------------------- 1 Sandpiper, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ All Keys Appraisal Company as real estate appraiser. All Keys will prepare a real estate appraisal of the Debtor's real property located at 1 Sandpiper Lane in Marathon, Florida, specifically to aid in support of its liquidation analysis. All Keys has agreed to provide the appraisal for a flat fee in the amount of $1,500, and has required a retainer in this amount. As disclosed in the court filings, All Keys, nor any of its employees hold or represent an interest adverse to the estate and are disinterested persons. The firm can be reached through: Mark MacLaughlin All Keys Appraisal Company PO Box 2391 1010 Kennedy Dr, Suite 305 Key West, FL 33045 About 1 Sandpiper LLC 1 Sandpiper, LLC owns a vacation rental property located at 1 Sandpiper Lane in Marathon, Fla. The property is valued at $3.65 million. 1 Sandpiper sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01836) on May 15, 2025. In its petition, the Debtor reported total assets of $3,822,330 and total liabilities of $8,836,717. Judge Pamela W. McAfee handles the case. The Debtor is represented by Danny Bradford, Esq., at Paul D. Bradford, PLLC. 1103 FRANKLIN: Hires Julio E. Portilla P.C. as Bankruptcy Counsel ----------------------------------------------------------------- 1103 Franklin Avenue Housing Development Fund Corporation seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Law Office of Julio E. Portilla, P.C. as its counsel. The firm's services include: a. providing legal advice with respect to the Debtor's powers and duties under the Bankruptcy Code in the continued operation of its business and the management of its property; b. negotiating, drafting and pursuing all documentation necessary in the Debtor's Chapter 11 case, including, without limitation, any debtor-in-possession financing arrangements and the disposition of the Debtor's assets, by sale or otherwise; c. preparing legal papers; d. negotiating with creditors, preparing a plan of reorganization and taking the necessary legal steps to consummate the plan; e. appearing in court; f. attending meetings and negotiating with representatives of creditors, the United States Trustee, and other parties involved in the Debtor's Chapter 11 case; g. advising the Debtor on bankruptcy law, corporate law, corporate governance, tax, litigation and other issues attendant to its business operations; h. taking all necessary actions to protect and preserve the Debtor's estate; and i. performing other necessary legal services. Law Office of Julio E. Portilla will charge $475 to $575 per hour for attorneys, while paralegals will bill an hourly rate of $125 per hour. The firm received an advanced payment retainer in the amount of $10,000. As disclosed in court filings, the Law Office of Julio E. Portilla is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Julio E. Portilla, Esq. Law Office of Julio E. Portilla, P.C. 555 Fifth Avenue, 17th Floor New York, NY 10017 Tel: (212) 365-0292 Fax: (212) 365-4417 Email: jp@julioportillalaw.com About 1103 Franklin Avenue Housing Development Fund Corporation 1103 Franklin Avenue Housing Development Fund Corporation is a single asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). 1103 Franklin Avenue Housing Development Fund Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No.25-41526) on March 28, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Julio E. Portilla, Esq. at Law Office Julio E. Portilla, P.C. 11501 WILLIAM: Hires Law Office of Donald L. Bell LLC as Counsel ---------------------------------------------------------------- 11501 William Beanes Roads LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ The Law Office of Donald L. Bell, LLC to handle its Chapter 11 case. The firm will provide extensive legal services such as preparing bankruptcy schedules, statement of financial affairs, monthly operating reports and other documents. The firm will charge $450 per hour for attorney work and will not bill for paralegal work done in the main case. The retainer fee is $11,000. As disclosed in court filings, the Law Office of Donald L. Bell has no interest adverse to the Debtor or its estate. The firm can be reached through: Donald L Bell, Esq. The Law Office Of Donald L. Bell, LLC 6305 Ivy Ln Suite 315 Greenbelt, MD 20770 Tel: (301) 614-0536 Email: donbellaw@gmail.com About 11501 William Beanes Roads LLC 11501 William Beanes Road LLC is a real estate holding company that appears to own and manage the property at its namesake address in Upper Marlboro, Maryland. 11501 William Beanes Road LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-16499) on July 16, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Donald L Bell, Esq. at Law Office Of Donald L. Bell LLC. 138 GREENE: Claims to be Paid from Property Sale Proceeds --------------------------------------------------------- 138 Greene Retail, LLC filed with the U.S. Bankruptcy Court for the Southern District of New York a Disclosure Statement describing Plan of Reorganization dated August 4, 2025. The Debtor's primary assets are shares in a cooperative housing corporation known as Greene Street Holding Corp. (the "Cooperative") and a proprietary lease (collectively, the "Property") for the ground floor and basement units of the real property at 132-140 Greene Street, New York, New York. SIG CRE 2023 Venture LLC ("Lender"), as successor to Signature Bank, asserts a claim against the Debtor in the original principal amount of $14,800,000, secured by a security interest in the Property. The Debtor estimates that the value of the Property is $10,500,000. The Debtor was attempting to settle with the Lender before the Petition Date, but the Lender scheduled a quick non-judicial UCC sale of the Property for January 28, 2025, which would have stripped the Debtor of all rights and made settlement impossible. The Debtor filed this case, therefore, to preserve its ability to exhaust settlement possibilities while considering refinancing, new investment and or bankruptcy sale options. During this case, the Debtor made a settlement offer to the Lender that includes selling the Property in bankruptcy court together with other properties (that are not presently in bankruptcy) that the Debtor's principal beneficially owns, and on which the Lender has mortgages. This global settlement approach would benefit all creditors by maximizing value and providing a comprehensive resolution. Absent an agreement from the Lender to sell the Debtor's Property with other non-Debtor properties, the Debtor proposes to sell the Debtor's Property under the Plan to avoid a quick UCC sale, and instead engage in marketing to obtain fair market value. Class 6 consists of General Unsecured Claims. Claims total approximately $141,207. Payment of available Cash up to Allowed Amount of Class 6 Claims, Administrative Expense Claims post-Confirmation wind up costs; Allowed Priority Claims; U.S. Trustee fees, and Class 1, 2, 3, 4 and 5 Claims. If no cash is available from the Sale Proceeds, each Class 6 Claimant shall be entitled to its pro-rata share of a $25,000 distribution fund. This Class is impaired. Class 7 consists of Interests Holders. Payment of available cash after payment of Allowed Administrative Expense Claims post Confirmation wind up costs; Allowed Priority Claims; U.S. Trustee fees, and Class 1, 2, 3, 4, 5 and 6 Claims. Payments under the Plan will be paid from the Property sale proceeds. The sale of the Property shall be implemented pursuant to the Bidding and Auction Procedures. After the Confirmation Order is entered, but prior to or on the Effective Date, the Property shall be sold to Purchaser free and clear of all Liens, Claims, and encumbrances, with any such Liens, Claims, and encumbrances to attach to the Property Sale Proceeds, and disbursed in accordance with the provisions of this Plan. For mortgage recording tax purposes, the First Mortgagee shall permit an assignment of its mortgage in connection with the sale of the Property under the Plan. A full-text copy of the Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=Jm7u47 from PacerMonitor.com at no charge. Counsel to the Debtor: Mark Frankel, Esq. Backenroth Frankel & Krinsky, LLP 488 Madison Avenue, Floor 23 New York, NY 10022 Telephone: (212) 593-1100 About 138 Greene Retail 138 Greene Retail, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10129) on January 27, 2025, listing up to $50 million in both assets and liabilities. Honorable Bankruptcy Judge Philip Bentley handles the case. Mark Frankel, Esq., at Backenroth Frankel & Krinsky, LLP represents the Debtor as counsel. 26 CAPITAL: Seeks to Hire Cross & Simon LLC as Bankruptcy Counsel ----------------------------------------------------------------- 26 Capital Acquisition Corp. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Cross & Simon, LLC as counsel. The firm will provide these services: a. perform all necessary services as the Debtor's counsel in connection with this Chapter 11 case; b. take all necessary actions to protect and preserve the Debtor's rights during the pendency of this Chapter 11 case; c. represent the Debtor at hearings, meetings, and conferences on matters pertaining to the affairs of the Debtor as debtor-in-possession; and d. perform all other necessary legal services. The firm will be paid at these rates: Christopher P. Simon $955 per hour Kevin S. Mann $840 per hour Stephanie MacDonald (paralegal) $255 per hour The firm received a retainer in the amount of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Kevin S. Mann, Esq., a partner at Cross & Simon, 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: Kevin S. Mann, Esq. Cross & Simon, LLC 1105 North Market Street, Suite 901 Wilmington, DE 19801 Tel: (302) 777-4200 Fax: (302) 777-4224 About 26 Capital Acquisition Corp. 26 Capital Acquisition Corp. is a special purpose acquisition company (SPAC). 26 Capital Acquisition Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11323) on July 11, 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 Karen B. Owens handles the case. The Debtor is represented by Kevin Scott Mann, Esq. at Cross & Simon, LLC. 26 CAPITAL: Seeks to Hire Nixon Peabody LLP as Bankruptcy Counsel ----------------------------------------------------------------- 26 Capital Acquisition Corp. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Nixon Peabody LLP as bankruptcy counsel. The firm's services include: a. advising the Debtors with respect to their powers and duties in the continued operation of their businesses; b. advising the Debtors with respect to all general bankruptcy matters; c. preparing legal papers; d. representing the Debtors at court hearings; e. prosecuting and defending litigated matters that may arise during the Debtors' Chapter 11 cases; f. preparing and filing a disclosure statement and negotiating, presenting, and implementing a plan of reorganization; g. negotiating transactions and preparing any necessary documentation related thereto; h. representing the Debtors on matters relating to the assumption or rejection of executory contracts and unexpired leases; i. advising the Debtors with respect to general corporate, securities, real estate, litigation, environmental, labor, regulatory, tax, healthcare, and other legal matters which may arise during the pendency of the cases; and j. providing other legal services. Nixon Peabody will be paid at these rates: Attorneys $700 and $1,350 per hour Paralegals $335 and $645 per hour The firm received from the Debtors a retainer of $25,000. Richard Pedone, Esq., a partner at Nixon Peabody, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Richard C. Pedone, Esq. Nixon Peabody, LLP 53 State Street Boston, MA 02109-2835 Tel: (617) 345-1305 Email: rpedone@nixonpeabody.com About 26 Capital Acquisition Corp. 26 Capital Acquisition Corp. is a special purpose acquisition company (SPAC). 26 Capital Acquisition Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11323) on July 11, 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 Karen B. Owens handles the case. The Debtor is represented by Kevin Scott Mann, Esq. at Cross & Simon, LLC. 33 MAKO: Hires Kucker Marino Winiarsky & Bittens as Legal Counsel ----------------------------------------------------------------- 33 Mako LLC seeks approval from the U.S. Bankruptcy Court for the U.S. Bankruptcy Court for the Southern District of New York to hire Kucker Marino Winiarsky & Bittens, LLP as counsel. The firm's services include: a. providing advice to the Debtor with respect to its powers and duties under the Bankruptcy Code in the continued operation of its business and the management of its property; b. negotiating with creditors of the Debtor, preparing a plan of reorganization and taking the necessary legal steps to consummate a plan, including, if necessary, negotiations with respect to financing a plan; c. appearing before the various taxing authorities to work out a plan to pay taxes owing in installments; d. preparing on the Debtor's behalf Debtor necessary applications, motions answers, replies, discovery requests, forms of orders, reports and other pleadings and legal documents; e. appearing before this Court to protect the interests of the Debtor and its estate, and representing the Debtor in all matters pending before this Court; and f. performing all other legal services for the Debtor that may be necessary. The firm received a retainer in the amount of $7,500 inclusive of the filing fee of $1,738. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Joel M. Shafferman, Esq., a partner at Kucker Marino Winiarsky & Bittens, 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: Joel M. Shafferman, Esq. Kucker Marino Winiarsky & Bittens, LLP 737 Third Avenue, New York, NY 10017 Telephone: (212) 869-5030 Email: jshafferman@kuckermarino.com About 33 Mako LLC 33 Mako LLC is a real estate company doing business as 54 Sandcastle, which owns a residential property at 54 Sandcastle Lane in Amagansett, New York. The Company focuses on single-asset real estate development and management in the Hamptons area. 33 Mako LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11256) on June 3, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Philip Bentley handles the case. The Debtors are represented by Joel M. Shafferman, Esq. at KUCKER MARINO WINIARSKY & BITTENS, LLP. 421 REMSEN: Hires Tarter Krinsky & Drogin LLP as Counsel -------------------------------------------------------- 421 Remsen LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Tarter Krinsky & Drogin LLP as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; (b) negotiate with creditors of the Debtor in working out a plan of reorganization, and to take necessary legal steps in order to confirm said plan of reorganization; (c) prepare legal papers; (d) appear before the bankruptcy judge and represent the Debtor in all matters pending in the Chapter 11 proceeding; and (e) perform all other legal services for the Debtor. The firm will be paid at these rates: Partners $600 to $875 per hour Counsel $550 to $795 per hour Associates $425 to $575 per hour Paralegals $300 to $410 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $20,000. Scott Markowitz, Esq., a partner at Tarter Krinsky & Drogin, 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 S. Markowitz, Esq. Tarter Krinsky & Drogin LLP 1350 Broadway, 11th Floor New York, NY 10018 Tel: (212) 216-8000 Email: smarkowitz@tarterkrinsky.com About 421 Remsen LLC 421 Remsen LLC, filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 1-25-42468) on May 21, 2025. The Debtor hires Tarter Krinsky & Drogin LLP as counsel. 4504 15th AND 1476: Creditors to Get Proceeds From Liquidation -------------------------------------------------------------- Solomon Oberlander, Chedva Freund and Shmuel Babad (collectively the "Proponent") filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement for Chapter 11 Plan for 4504 15 and 1476 45 Equity Partners LLC dated August 5, 2025. The Debtor constructed and owns at least two separate properties consisting of 4504 15th Avenue, Brooklyn, New York which is a three-unit rental building. The Debtor also constructed and owns three condominium units located at 1476 45th Street, Brooklyn, New York. The Debtor is in the process of completing the construction of the three condominium units and is approximately 85% complete in doing so. The Debtor's principal, as a contractor, utilized the services of Construction Lumber Corp. and Premium Repairs, an affiliate, to work on the project. The Debtor alleges that the value of its building located at 4505 15th Avenue, Brooklyn, New York is $6,500,000, the value of the building located at 1476 45th Street, Brooklyn, New York including the three condominium units is $8,500,000. The Plan Proponent intends to obtain the appointment of a Plan Administrator to liquidate the Debtor's assets through (i) the Sale of the Condo Units to the three Purchasers under the three separate Contracts of Sale; (ii) through the Sale of the real property located at 4504 15th Avenue, Brooklyn, New York under competitive bidding at an Auction Sale and (iii) and the proceeds of any litigation collected by the Plan Administrator. The Plan contemplates that proceeding with the Sale of the three Condo Units to the individuals who entered Purchase Contracts (Messrs. Oberlander, Freund and Babad), at the Contract price, will result in the parties receiving more than a reasonable percentage of their claims in a timelier expeditious manner. Simply focusing on the Condo Units transaction, and that the results of the sale of the other Beck Property owned by the Debtor will remain unchanged, the numbers establish that the Contract prices totaling $6,000,000 will net a greater recovery to those creditors who have been filed on the Schedules, who have appeared unannounced and unsolicited at the Hearings held before this Court on July 8, 2025, and on any other creditors identified in the Proofs of Claim which are filed by the Bar Date of September 22, 2025 as issued by this Court than those creditors will receive in the unlikely and unsubstantiated eventuality that the prices for the Condo Units equals the $8,500,000 amounts reflected in the Debtor's Schedules. Creditors will be receiving a total of $318,000 through the Sale of the Condo Units under the Real Estate Contracts whereas creditors would be receiving only $274,000 if the $8,500,000 "value" amounts would be realized after deducting the debits and credits and paying the Purchasers their share of the unsecured claims ($2,500,000 divided by the total claims of $8,302,000). Furthermore, unsecured creditors will receive their share of the liquidation of the other Assets. Class 4 represents all unsecured creditors including Construction and Maintenance Services LLC, Leon Eisner, Lilly Klein Family Trust, Premium Repair LLC and PTC Holding SUB LLC. This Class representing the unsecured creditors and all purported secured creditors who do not meet the requirements for being secured under the provisions of the Uniform Commercial Code and Section 506 of the Bankruptcy Code shall share, on a pro rata basis, based on their Allowed claims in the proceeds of the estate consisting of (a) all net amounts received by the Plan Administrator in connection with the Condo Units Sale after payment of the closing cost expenses and the Allowed secured claims of JG Funding, holder of the first mortgage on the Condo Units, (b) all net amounts received by the Plan Administrator in connection with the Sale of the Beck Property after payment of the closing cost expenses and the Allowed secured claims of the first mortgage on the Beck Property and (c) any other assets received by the Plan Administrator and any proceeds received by the Plan Administrator in connection with any litigation commenced or to be commenced by the Plan Administrator net after payment of the fees and costs incurred in connection with such litigation. During the period from the Confirmation Date through and until the Effective Date, the Debtor may continue to operate its business as debtor-in-possession, subject to the oversight of the Bankruptcy Court, as provided in the Bankruptcy Code, the Bankruptcy Rules, and all orders of the Bankruptcy Court that are then in full force and effect. As soon as practicable the Effective Date and subject to the terms of this Plan, the Plan Administrator shall schedule and close on the sale of the three Condo Units (the "Condo Units") under the terms of the three Contracts of Sale (the "Contracts of Sale") as described in the State Court Orders and Beth Din Arbitrations. The Plan Administrator is hereby authorized to execute any and all documents which are required to be executed by an owner of the Condo Units. A full-text copy of the Disclosure Statement dated August 5, 2025 is available at https://urlcurt.com/u?l=TZWPUM from PacerMonitor.com at no charge. Counsel for the Plan Proponent: Leo Fox, Esq. 630 Third Avenue – 18th Floor New York, New York 10017 (212) 867-9595 – Telephone (212) 949-1857 - Facsimile Email: leo@leofoxlaw.com About 4504 15 and 1476 45 Equity Partners LLC 4504 15 and 1476 45 Equity Partners LLC is involved in activities related to real estate. 4504 15 and 1476 45 Equity Partners LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41415) on March 26, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million to $10 million. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Joshua R. Bronstein, Esq. at JOSHUA R. BRONSTEIN & ASSOCIATES, PLLC. 4901 16TH: Court Extends Cash Collateral Access to Sept. 19 ----------------------------------------------------------- 4901 16th, LLC received third interim approval from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral from August 1 to September 19. The third interim order authorized the Debtor to use cash collateral, which consists primarily of rents from its Brooklyn property, pursuant to its budget, with a 10% variance. As adequate protection for the Debtor's use of its cash collateral, FinWise Bank will be granted a continuing post-petition security interest in all of the Debtor's assets and the proceeds thereof. This security interest does not apply to any avoidance actions and is subject to a fee carveout. As further protection, the pre-bankruptcy lender will receive payment of $10,236. The provisions of the third interim order will survive entry of any order (i) confirming a plan of reorganization in the Debtor's Chapter 11 case; (ii) converting the case to one under Chapter 7 of the Bankruptcy Code; (iii) dismissing the case; and (iv) approving the sale of the lender's collateral. Notwithstanding the entry of any such order, the terms and provisions of the third interim order will continue in full force and effect, and the liens, security interests and other protections granted to FinWise Bank will maintain their priority until the lender is repaid in full. The next hearing is scheduled for September 17. About 4901 16th LLC 4901 16th, LLC owns a commercial office building located at 4901 16th Avenue, Brooklyn, N.Y., with an estimated value of $2.5 million. 4901 16th sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 25-40777) on February 19, 2025, listing $2.5 million in assets and $4.31 million in liabilities. Bernard Gelbstein, a member of 4901 16th, signed the petition. Judge Jil Mazer-Marino oversees the case. Joseph Y. Balisok, Esq., at Balisok & Kaufman, PLLC, is the Debtor's legal counsel. Finwise Bank, as lender, is represented by: Richard J. McCord, Esq. Robert D. Nosek, Esq. Certilman Balin Adler & Hyman, LLP 90 Merrick Avenue, 9th Floor East Meadow, NY 11554 (516)296-7000 rmccord@certilmanbalin.com rnosek@certilmanbalin.com 5612 9TH AVE: Hires Ronald D. Weiss P.C. as Legal Counsel --------------------------------------------------------- 5612 9th Ave LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Ronald D. Weiss, P.C. as counsel. The firm will render these services: (a) providing legal advice with respect to the powers and duties of the Debtor-in-Possession in the continued management of its property; (b) representing the Debtor before the Bankruptcy Court and at all hearings on matters pertaining to his affairs, as Debtor-in-Possession, including contested matters that may arise during the Chapter 11 case; (c) advising and assisting Debtor in the preparation and negotiation of a Plan of Reorganization with his creditors; (d) preparing necessary or desirable applications, motions, answers, orders, reports, documents, and other legal papers; and (e) performing other legal services for the Debtor which may be desirable and necessary. The hourly rates of the firm's counsel and staff are $450 per hour for attorneys and $250 per hour for paralegals. In addition, the firm will seek reimbursement for expenses incurred. On July 29, 2025, the firm received a retainer in the amount of $16,000. Ronald D. Weiss, Esq., an attorney at The Law Office of Ronald D. Weiss, 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: Ronald D. Weiss, Esq. LAW OFFICE OF RONALD D. WEISS, P.C. 445 Broadhollow Road, Suite CL-10 Melville NY 11747 Tel: (631) 271-3737 Fax: (631) 271-3784 Email: weiss@ny-bankruptcy.com About 5612 9th Ave LLC 5612 9th Ave LLC is a single-asset real estate company that owns the property at 5612 9th Avenue in Brooklyn, New York. The property is held in fee simple and is estimated to be worth $1.78 million, according to Zillow. 5612 9th Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43632) on July 30, 2025. In its petition, the Debtor reports total assets of $1,781,933 and total liabilities of $1,053,738. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Ronald D. Weiss, Esq. at RONALD D. WEISS, P.C. 5801 PATTON: Hires Pendergraft & Simon as Legal Counsel ------------------------------------------------------- 5801 Patton Street, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Leonard H. Simon of Pendergraft & Simon, LLP to serve as lead legal counsel in its Chapter 11 case. Mr. Simon, along with William P. Haddock as counsel, will provide these services: (a) analyze the Debtor's financial situation and advise on the filing of petitions under Title 11; (b) advise the Debtor regarding its powers and duties as Debtor-in-Possession; (c) conduct examinations of witnesses and claimants; (d) prepare and file petitions, schedules, motions, and other legal documents; (e) represent the Debtor at the meeting of creditors and throughout the bankruptcy proceedings; (f) appear before the Court and other tribunals on behalf of the Debtor; (g) prepare and prosecute the Disclosure Statement and Plan of Reorganization; (h) advise on administration of the estate and rights concerning estate assets and claims; (i) investigate prepetition transactions and pursue avoidance actions; (j) defend against motions for relief from stay and prosecute claims objections; (k) handle real estate and business matters related to the case; and (l) assist in all other matters related to the Chapter 11 case. The firm will be paid at these rates: Mr. Simon $600 per hour Mr. Haddock $400 per hour senior paralegal/senior law clerk $250 per hour junior paralegal/senior law clerk $150 per hour Pendergraft & Simon, LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Leonard H. Simon, Esq. PENDERGRAFT & SIMON, LLP 2777 Allen Parkway, Suite 800 Houston, TX 77019 Telephone: (713) 528-8555 Facsimile: (713) 868-1267 About 5801 Patton Street LLC 5801 Patton Street LLC is a single asset real estate company that owns property at 5801 Patton Street in Corpus Christi, Texas. The company operates under NAICS code 5311 (Lessors of Real Estate) and is likely engaged in leasing or managing this commercial property. 5801 Patton Street LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-20203) on July 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge Marvin Isgur oversees the case. The Debtors are represented by William P. Haddock, Esq. at Pendergraft & Simon. 5902 HUDSON: Capital Contributions to Fund Plan Payments -------------------------------------------------------- 5902 Hudson Ave LLC filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement for Plan of Reorganization dated August 4, 2025. The Debtor owns the real property and improvements thereon located at 5902 Hudson Avenue, West New York, NJ 07093 (Lot 2, Block 61 on the official Tax Map of the Town of West New York, Hudson County) (the "Property"). On or about March 19, 2021, the Debtor refinanced the Property by securing a loan from Coventus, LLC (the "Original Lender") in the original principal amount of $1,050,000.00. The loan was then assigned to U.S. Bank National Association (the "Lender"). This case was filed on May 7, 2025 to stop the foreclosure sale of the Property that was scheduled in connection with an action entitled U.S. Bank National Association Not In Its Individual Capacity But Solely As Trustee for Plaza RTL Trust v. 5902 Hudson Ave, LLC and Coventus LLC (Index No. SWC-F-013251-23) pending in the Superior Court of New Jersey, Chancery Division, Hudson County (the "State Court Action"), and thereby, preserve the Property for the benefit of the Debtor's creditors and its estate. Without commencing this Chapter 11 case, the Debtor would have lost the Property. Class 4 consists of General Unsecured Claims. Subject to the provisions of Article 7 of the Plan with respect to Disputed Claims, in full satisfaction, release and discharge of Class 4 General Unsecured Claims, the holder of such Claims shall receive the following treatment: on the Effective Date, or as soon as possible after such Claims become Allowed Claims, each holder of a Class 4 General Unsecured Claim shall receive from the Disbursing Agent, unless otherwise agreed in writing between the Debtor and the holder of such Claim, its Pro Rata payment from the Unsecured Creditors' Fund. This Class is impaired. Class 5 consists of Equity Interests. Class 5 Equity Interests are not receiving any distribution under the Plan but are entitled to continued ownership of Interests. Effective Date payments under the Plan will be paid from capital to be contributed by the Interest Holders. Except as otherwise provided in the Plan, on the Effective Date all assets and properties of the Estate shall vest in the Debtor free and clear of all Liens, Claims and encumbrances and any and all Liens, Claims and encumbrances that have not been expressly preserved under the Plan shall be deemed extinguished as of such date. A full-text copy of the Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=niiUuE from PacerMonitor.com at no charge. Counsel to the Debtor: Joel M. Shafferman, Esq. Shafferman & Feldman LLP 137 Fifth Avenue, 9th Floor New York, NY 10010 Telephone: (212) 509-1802 Email: shaffermanjoel@gmail.com About 5902 Hudson Ave LLC 5902 Hudson Ave LLC is a single-asset real estate debtor under U.S. Bankruptcy Code. The Company lists a property at 5902 Hudson Avenue in West New York, New Jersey, as its principal asset. 5902 Hudson Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42224) on May 7, 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 Elizabeth S. Stong handles the case. The Debtors are represented by Joel M. Shafferman, Esq., at Shafferman & Feldman LLP. A&M SMART: Seeks to Hire Gold Weems Bruser as Counsel ----------------------------------------------------- A&M Smart Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to employ Gold, Weems, Bruser, Sues & Rundell, APLC as counsel. The firm will give the Debtor legal advice with respect to the Debtor's powers and duties as debtor-in-possession in the continued operation of the Debtor's business and management of Debtor's property, and to perform all legal services for the debtor-in-possession which may be necessary herein. The firm will be paid at these rates: Shareholders $300 to $435 per hour Associates $265 to $310 per hour Paralegals $90 per hour In addition, the firm will be reimbursed for out-of-pocket expenses incurred. The firm will be paid a retainer of $15,000. Conner Dillon, Esq., a partner at Gold Weems Bruser Sues & Rundell, 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: Bradley L. Drell, Esq. Conner L. Dillon, Esq. Gold Weems Bruser Sues & Rundell, APLC P.O. Box 6118 Alexandria, LA 71307-6118 Tel: (318) 445-6471 Fax: (318) 445-6476 Email: bdrell@goldweems.com About A&M Smart Investments, LLC A&M Smart Investments LLC is a limited liability company. A&M Smart Investments LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 25-10791) on July 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge John S. Hodge handles the case. The Debtor is represented by Conner L. Dillon, Esq. at GOLD, WEEMS, BRUSER, SUES & RUNDELL, A PLC. A.I. BUILDERS: Bankruptcy Administrator Unable to Appoint Committee ------------------------------------------------------------------- The U.S. Bankruptcy Administrator for the Eastern District of North Carolina disclosed in a filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of A.I. Builders, LLC. About A.I. Builders LLC A.I. Builders, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02368) on June 23, 2025, listing under $1 million in both assets and liabilities. Honorable Bankruptcy Judge David M. Warren handles the case. The Debtor tapped Bradford Law Offices as counsel. AETIUS COMPANIES: Ward and Smith Files Rule 2019 Statement ---------------------------------------------------------- The law firm of Ward and Smith, P.A., filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 cases of Aetius Companies, LLC, and its affiliates, the firm represents HMC Restaurant Group, LLC, LJ Wings, Inc., K POW Wings, LLC, and JC Wings, LLC. HMC is a North Carolina limited liability company, having its principal place of business at 206 Brant Ford Circle, Fletcher, North Carolina. HMC is a creditor of the Debtors. Ward and Smith, P.A. has been retained to represent HMC in connection with this bankruptcy proceeding. LJ Wings is a North Carolina corporation, having its principal place of business located at 200 South Lexington Avenue, Asheville, North Carolina. LJ Wings is a franchisee and party in interest of the Debtors. Ward and Smith, P.A. has been retained to represent LJ Wings in connection with this bankruptcy proceeding. K POW is a Tennessee limited liability company, having its principal place of business located at 200 South Lexington Avenue, Asheville, North Carolina. K POW is a franchisee and party in interest of the Debtors. Ward and Smith, P.A. has been retained to represent K POW in connection with this bankruptcy proceeding. JC Wings is a Tennessee limited liability company, having its principal place of business located at 200 South Lexington Avenue, Asheville, North Carolina. JC Wings is a franchisee and party in interest of the Debtors. Ward and Smith, P.A. has been retained to represent JC Wings in connection with this bankruptcy proceeding. Ward and Smith, P.A. has considered and evaluated all potential conflicts of interest in accordance with the North Carolina Rules of Professional Conduct and has determined that the representations are permissible and has obtained proper consents from its clients where required. The law firm can be reached at: Paul A. Fanning, Esq. Lance P. Martin, Esq. Ward and Smith, P.A. Post Office Box 8088 Greenville, NC 27835-8088 Telephone: 252.215.4000 Facsimile: 252.215.4077 email: paf@wardandsmith.com email: lpm@wardandsmith.com About Aetius Companies LLC Aetius Companies, LLC and affiliates operate a restaurant chain. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Lead Case No. 23-30470) on July 19, 2023. At the time of the filing, Aetius Companies reported between $10 million and $50 million in both assets and liabilities. Judge Craig Whitley oversees the cases. The Debtors are represented by: Robert A. Cox, Jr., Esq. Hamilton Stephens Steele & Martin, PLLC 525 North Tryon Street, Suite 1400 Charlotte, NC 28202 Tel: (704) 344-1117 rcox@lawhssm.com AFM MATTRESS: Committee Retains Cozen O'Connor as Counsel --------------------------------------------------------- The Official Committee of Unsecured Creditors of AFM Mattress Company LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to retain Cozen O'Connor as its Delaware counsel in the Chapter 11 case. Cozen O'Connor will provide these services: (a) render legal advice regarding the Committee's organization, duties, and powers; (b) assist the Committee with respect to the Debtor's first day and second day motions; (c) attend Committee meetings and negotiations with the Debtor and its professionals; (d) assist in preparing motions, retention applications, and other pleadings; (e) take necessary action to protect the Committee's interests; and (f) perform other legal services not performed by other counsel engaged by the Committee. Cozen O'Connor professionals will charge these hourly rates: -- Mark E. Felger Member $995 -- Marla S. Benedek Member $685 -- Shaina Carney Paralegal $315 According to court filings, Cozen O'Connor is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Contact Information: Mark E. Felger, Esq. Marla S. Benedek, Esq. Shaina Carney, Esq. COZEN O'CONNOR 1201 North Market Street, Suite 1001 Wilmington, DE 19801 Telephone: (215) 605-8889 Email: mfelger@cozen.com mbenedek@cozen.com AFM Mattress Company LLC AFM Mattress Company LLC, doing business as American Mattress, a retail mattress company based in Elk Grove Village, Illinois. AFM Mattress Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11288) on July 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by: Maria Aprile Sawczuk, Esq. Goldstein & Mcclintock, LLLP Tel: (302) 444-6710 Email: marias@goldmclaw.com AFM MATTRESS: Committee Retains Levenfeld Pearlstein as Counsel --------------------------------------------------------------- The Official Committee of Unsecured Creditors of AFM Mattress Company LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Levenfeld Pearlstein LLC as its legal counsel in the Chapter 11 case. Levenfeld Pearlstein LLC will provide these services to the Committee: (a) provide legal advice with respect to the Committee's powers, duties, and strategies; (b) assist in consultations and negotiations with the Debtor and the U.S. Trustee; (c) draft, revise, and comment on documents as requested by the Committee; (d) analyze creditor claims and the Debtor's capital structure; (e) investigate the Debtor's financial condition, assets, and business operations; (f) analyze and negotiate lease assumptions/rejections, asset sales, financing, and reorganization plans; (g) advise the Committee on communications to the creditor body; (h) review and analyze court filings and advise the Committee on appropriate actions; (i) provide guidance on legislative, regulatory, or governmental matters; (j) analyze the Debtor's agreements and investigate claims against affiliates; (k) appear in Court and at creditors' meetings; (l) monitor case dockets; (m) participate in Committee calls; (n) handle creditor inquiries; and (o) provide additional support as requested. The firm's hourly rates range from $625 to $1,230 for partners, $540 to $700 for associates, and $420 to $555 for paraprofessionals. Notable professionals and their hourly rates include: -- Elizabeth B. Vandesteeg $930 -- Ryan C. Hardy $860 -- Jack R. O'Connor $840 -- Sean P. Williams $720 -- Ashley J. Roeser $540 Levenfeld Pearlstein LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be contacted at: Elizabeth B. Vandesteeg, Esq. Ryan C. Hardy, Esq. Jack R. O'Connor, Esq. Sean P. Williams, Esq. Ashley J. Roeser, Esq. Levenfeld Pearlstein LLC 130 North Upper Wacker Drive, Suite 2000 Chicago, IL 60606 Telephone: (312) 346-8380 AFM Mattress Company LLC AFM Mattress Company LLC, doing business as American Mattress, a retail mattress company based in Elk Grove Village, Illinois. AFM Mattress Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11288) on July 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by: Maria Aprile Sawczuk, Esq. Goldstein & Mcclintock, LLLP Tele: (302) 444-6710 Email: marias@goldmclaw.com AGDP HOLDING: Gets Interim OK to Obtain DIP Loan From Alter Domus ----------------------------------------------------------------- AGDP Holding Inc. and affiliates received interim approval from the U.S. Bankruptcy Court for the District of Delaware to use cash collateral and obtain post-petition financing. The DIP Lenders, agented by Alter Domus (US) LLC have agreed to provide the Debtors with approximately $45.8 million in total loans through a debtor-in-possession financing facility, subject to court approval and certain conditions. This amount includes: 1. $10 million in Interim DIP Term Loans available right away; 2. An additional $15 million in New Money DIP Term Loans available after the court enters a final order; and 3. $20.8 million in Roll-Up DIP Term Loans, which convert prior emergency loans called Protective Advances made by the lenders between May 14 and August 1, into DIP loans. The DIP facility grants the DIP secured parties superpriority administrative expense claims under 11 U.S.C. Sections 364(c)(1), 503(b)(1), and 507(b), which are subject only to a limited carveout. It also includes the granting of automatically perfected, valid, enforceable, and non-avoidable DIP Liens on substantially all of the Debtors' assets, including pre-petition collateral and cash collateral, all of which are subject only to permitted prior liens and the carveout. The DIP facility is due and payable on the earliest to occur of: (i) the date which is 120 days following the petition date, or if such date is not a business day, the immediately following business day; (ii) 35 days after the petition date, if the final order has not been entered by the bankruptcy court on or prior to such date, or if such date is not a business day the immediately following business day; (iii) the consummation of a sale of all or substantially of the Debtors' assets pursuant to the sale motion or otherwise, (iv) the substantial consummation of a plan of reorganization filed in these Chapter 11 cases that is confirmed pursuant to an order of the bankruptcy court, or (v) the date on which the term loans are accelerated pursuant to Section 16. The Debtors agree to comply with these milestones: (a) No later than two business days after the petition date, the interim order must be entered by the bankruptcy court; (b) No later than five business days after the petition date, the Debtors must file the bidding procedures motion; (c) No later than 35 days after the petition date, the bankruptcy court must have entered the bid procedures order; (d) No later than 35 days after the petition date, the bankruptcy court must have entered the Final Order; (e) No later than 65 days after the petition date, the Debtors must have concluded accepting bid submissions; (f) No later than 75 days after the petition date, the Debtors must have concluded an auction for the sale of all or substantially all of the Debtors' assets and must have declared a successful bidder; (g) No later than 80 days after the petition date, the bankruptcy court must have entered one or more orders authorizing and approving the sale of all or substantially all of the Debtors' assets pursuant to one or a series of related or unrelated sale transactions; (h) No later than 95 days after the petition date, the sale of all or substantially all of the Debtors' assets approved by the bankruptcy court pursuant to one or a series of related or unrelated transactions must have been consummated in full. The Debtors are in a liquidity crisis and cannot fund payroll, vendor payments, or operations using existing cash or cash collateral alone. The DIP Facility is their only viable financing option after extensive market outreach, due to substantial pre-petition secured debt. inability to obtain junior or unsecured financing, and avoidance of a costly and potentially destructive priming fight with pre-petition lenders. As of the petition date, the Debtors had approximately $150 million in funded secured debt obligations. The Debtors are party to a pre-petition term loan facility agented by TPG Specialty Lending, Inc.. The outstanding balance under this term loan as of the petition date was approximately $45.78 million, inclusive of accrued interest, fees, and pre-petition protective advances. This facility is secured by a first-priority lien on substantially all of the Debtors' assets, including both real and personal property. The obligations under the pre-petition term loan are guaranteed by each of the Debtors. In addition to the secured debt, the Debtors also carried significant unsecured liabilities as of the petition date. These included trade payables, outstanding balances to vendors and service providers, lease obligations, and other general unsecured debts. The Debtors also had contingent and disputed liabilities, including potential litigation claims and regulatory exposures. As adequate protection for any loss in the value of their collateral, the pre-petition parties will be granted valid and perfected replacement liens on the Debtors' post-petition assets and superpriority claims on a joint and several basis against all Debtors. The final hearing is set for September 4. The deadline for filing objections is on August 28. A copy of the interim order is available at https://is.gd/1yQICa from PacerMonitor.com. 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. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11446 ) on August 4, 2025. In the petition signed by Gary Richards, chief executive officer, the Debtors disclosed up to $100 million in assets and up to $500 million in liabilities. Judge Mary F. Walrath oversees the case. YOUNG CONAWAY STARGATT & TAYLOR, LLP, represents the Debtors as legal counsel. They also tapped TRIPLE P TRS, LLC as financial advisor and TRIPLE P SECURITIES, LLC as investment banker. KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL is the claims and noticing agent and administrative advisor. Alter Domus (US) LLC, as DIP agent, may be reached at: 225 W. Washington Street, 9th Floor Chicago, IL 60606 Attn: Legal Department – Agency, Emily Ergang Pappas and Samuel Buhler legal_agency@alterdomus.com; Emily.ergangpappas@alterdomus.com; and Samuel.buhler@alterdomus.com -- and -- AG Acquisition 1 LLC c/o Axar Capital Management LP 1330 Avenue of the Americas, 30th floor New York, NY 10019 Attn: Andrew Axelrod aaxelrod@axarcapital.com ALBANY INN: Seeks to Hire Goetz Platzer LLP as Counsel ------------------------------------------------------ Albany Inn LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Goetz Platzer LLP as counsel. The firm will render these services: a. assist and advise the Debtor regarding the administration of the bankruptcy case; b. represent the Debtor before the Court and advise the Debtor of pending litigation, hearings, motions, and of the decisions of the Court; c. assist and analyze all applications, orders, and motions filed with the Court by third parties in this case and advise the Debtor; d. attend all hearings conducted pursuant to Sec. 341(a) of the Bankruptcy Code and represent the Debtor at all examinations; e. communicate with creditors; f. assist the Debtor in preparing applications and orders in support of positions taken by the Debtor, as well as prepare witnesses and review documents in this regard; g. confer with any accountants, brokers, special counsel, and consultants retained by the Debtor and/or any other party-in-interest; h. assist the Debtor in its negotiations with creditors or third parties concerning the terms of any proposed plan(s) of reorganization; i. prepare and draft plan(s) of reorganization; and j. assist the Debtor in performing such other services as may be in the interest of the Debtor and perform all other services required by the Debtor. The firm will be paid at these rates: Partners $625 to $800 per hour Associates $270 to $700 per hour Paralegals $285 per hour As disclosed in the court filings, the attorneys in Goetz Platzer are disinterested as such term is defined in Sec. 101(14) of the Bankruptcy Code. The firm can be reached through: Gary M. Kushner, Esq. Goetz Platzer LLP One Penn Plaza, 31st Floor New York, New York 10119 Telephone: (212) 695-8100 Facsimile: (212) 629-4013 About Albany Inn LLC Albany Inn LLC is a real estate lessor that owns and rents residential property in New York. Albany Inn LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43431) on July 18, 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 Jil Mazer-Marino handles the case. The Debtor is represented by Gary Kushner, Esq. at GOETZ PLATZER LLP. ALL IN PROFITS: Section 341(a) Meeting of Creditors on August 28 ---------------------------------------------------------------- On August 1, 2025, All In Profits LLC filed Chapter 11 protection in the Northern District of Georgia. According to court filing, the Debtor reports up to $50,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on August 28, 2025 at 03:00 PM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. About All In Profits LLC All In Profits LLC is a single asset real estate company based in Conyers, Georgia, operates in the real estate sector with a property located at 2700 Candlewood Road in Atlanta. All In Profits LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58667) on August 1, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities up to $50,000. ALTISOURCE PORTFOLIO: Warrants Now Exercisable After VWAP Trigger ----------------------------------------------------------------- As previously disclosed on a Current Report on Form 8-K filed by Altisource Portfolio Solutions S.A. with the Securities and Exchange Commission on April 2, 2025, the Company issued Warrants pursuant to the terms of the Warrant Agent Agreement, dated as of March 31, 2025, between the Company and Equiniti Trust Company, LLC, as warrant agent (the "Warrant Agent Agreement"). The Company issued two types of Warrants: * Warrants to purchase shares of Company's common stock, par value US$0.01 per share requiring cash settlement through the cash payment to the Company of the exercise price (the "Cash Exercise Stakeholder Warrants"); and * Warrants to purchase shares of Common Stock exercisable on a cashless basis (together with the Cash Exercise Stakeholder Warrants, the "Warrants" and each a "Warrant"). The Warrant Agent Agreement provides that the Warrants may become exercisable on the later of: (i) July 2, 2025 and (ii) the first date on which the VWAP (as defined in the Warrant Agent Agreement) of the Common Stock equals or exceeds the Implied Per Share Exercise Price (as defined in the Warrant Agent Agreement) of the Warrants for a period of fifteen consecutive Trading Days (as defined in the Warrant Agent Agreement). The VWAP exceeded the Implied Per Share Exercise Price for a period of fifteen consecutive Trading Days as of the close of trading on July 25, 2025. Accordingly, the Warrants are now exercisable in accordance with their terms. About Altisource Headquartered in Luxembourg, Altisource Portfolio Solutions S.A. -- https://www.Altisource.com/ -- is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets it serves. As of March 31, 2025, Altisource Portfolio Solutions had $145.7 million in total assets, $264.7 billion in total liabilities, and total stockholders' deficit of $119 million. * * * In March 2025. S&P Global Ratings raised its Company credit rating on Altisource Portfolio Solutions S.A. to 'CCC+' from 'SD'. S&P said, "We also assigned our 'B' issue-level rating and '1' recovery rating to the new $12.5 million senior secured debt (super senior facility), 'CCC-' issue-level rating and '6' recovery rating to the new $160 million senior subordinated debt (new first lien loan), and withdrew our ratings on the company's exchanged senior secured term loan, which was rated 'D'. "The stable outlook reflects our expectation that over the next 12 months, while we expect Altisource to generate positive cash flow from operations, we believe its liquidity will remain constrained and the company will remain dependent on favorable financial and economic conditions to meet its financial commitments. AMERIGO METAL: Hires Rountree Leitman Klein & Geer as Legal Counsel ------------------------------------------------------------------- Amerigo Metal Recycling LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire the law firm of Rountree Leitman Klein & Geer LLC to serve as legal counsel in its Chapter 11 case. RLKG will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in these proceedings; (b) prepare on behalf of the Debtor and Debtor-in-Possession necessary schedules, applications, motions, answers, orders, reports, and other legal papers; (c) assist in examination of the claims of creditors; (d) assist with the formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services for the Debtor and Debtor-in-Possession which may be necessary herein. Attorneys at RLKG will charge hourly rates ranging from $375 to $595. Paralegals will bill between $150 and $290 per hour. A law clerk, if employed, will bill at $175 per hour. The firm received a pre-petition retainer of $65,000, with a remaining balance of $54,125. RLKG is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Ceci Christy, Esq. Rountree Leitman Klein & Geer LLC 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: cchristy@rlkglaw.com About Amerigo Metal Recycling Amerigo Metal Recycling, LLC operates a metal recycling business. Amerigo sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-57425) on July 1, 2025, listing up to $50,000 in assets and up to $50 million in liabilities. Jeffrey H. Cammllarie, manager, signed the petition. Judge Paul W. Bonapfel oversees the case. William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. ARC-IV LLC: Hires Law Offices of Michael Jay Berger as Counsel -------------------------------------------------------------- ARC-IV, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ the Law Offices of Michael Jay Berger as counsel. The firm will render these services: (a) prepare a Chapter 11 bankruptcy schedules and statements; (b) advise regarding the Debtor's legal rights and obligations in a bankruptcy proceeding; (c) file notices of automatic stay; (d) assist in preparing the documents and reports required by the Office of the United States Trustee; (e) represent at the first meeting of creditors; (f) represent in opposition to any motion for relief from stay that may be filed; (g) assist in preparing the paperwork needed to continue and conclude a Chapter 11 proceeding; (h) respond to creditor inquiries; (i) review proofs of claim filed in your bankruptcy; (j) object to inappropriate claims; (k) respond to all motions filed in your bankruptcy proceeding; (l) negotiate with creditors as needed; and (m) prepare a proposed disclosure statement and plan of reorganization. The firm will be paid at these rates: Michael Berger, Partner $695 per hour Sofia Davtyan, Partner $645 per hour Angela Gill, Senior Associate $595 per hour Robert Poteete, Mid-Level Associate $475 per hour Senior Paralegal and Law Clerk $275 per hour Paralegal $200 In addition, the firm will seek reimbursement for expenses incurred. On June 6, 2025, the Debtor's principal Brian Cronin paid the firm $25,000 as retainer, plus $1,738 filing fee. Mr. Berger, the sole owner of the firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Jay Berger, Esq. Law Offices of Michael Jay Berger 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 Email: Michael.berger@bankruptcypower.com About ARC-IV, LLC ARC-IV, LLC is a limited liability company based in Sherman Oaks, California. ARC-IV sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11215) on July 9, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge Martin R. Barash oversees the case. The Debtor is represented by the Law Offices of Michael Jay Berger. ARC-V LLC: Hires Law Offices of Michael Jay Berger as Counsel ------------------------------------------------------------- ARC-V, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ the Law Offices of Michael Jay Berger as counsel. The firm will render these services: (a) prepare a Chapter 11 bankruptcy schedules and statements; (b) advise regarding the Debtor's legal rights and obligations in a bankruptcy proceeding; (c) file notices of automatic stay; (d) assist in preparing the documents and reports required by the Office of the United States Trustee; (e) represent at the first meeting of creditors; (f) represent in opposition to any motion for relief from stay that may be filed; (g) assist in preparing the paperwork needed to continue and conclude a Chapter 11 proceeding; (h) respond to creditor inquiries; (i) review proofs of claim filed in your bankruptcy; (j) object to inappropriate claims; (k) respond to all motions filed in your bankruptcy proceeding; (l) negotiate with creditors as needed; and (m) prepare a proposed disclosure statement and plan of reorganization. The firm will be paid at these rates: Michael Berger, Partner $695 per hour Sofia Davtyan, Partner $645 per hour Angela Gill, Senior Associate $595 per hour Robert Poteete, Mid-Level Associate $475 per hour Senior Paralegal and Law Clerk $275 per hour Paralegal $200 In addition, the firm will seek reimbursement for expenses incurred. On June 6, 2025, the Debtor's principal Brian Cronin paid the firm $25,000 as retainer, plus $1,738 filing fee. Mr. Berger, the sole owner of the firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Jay Berger, Esq. Law Offices of Michael Jay Berger 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 Email: Michael.berger@bankruptcypower.com About ARC-V, LLC ARC-V Inc. is a healthcare company likely specializing in orthopedic products and prosthetics based in Sherman Oaks, California. ARC-V Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11216) on July 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Martin R. Barash handles the case. The Debtors are represented by Michael Jay Berger, Esq. ARCHANGEL DISCIPLINES: Seeks to Hire DASA Law as Attorney --------------------------------------------------------- Archangel Disciplines, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire DASA Law as attorneys. The firm will render these services: a) advise the Debtor with respect to its powers and duties as a Debtor in possession and the continued management of its business operations; b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c) prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d) protect the interest of the Debtor in all matters pending before the court; and e) represent the Debtor in negotiation with its creditors in the preparation of a plan. DASA Law received a retainer in the amount of $5,000. DASA Law's Jesus Santiago, Esq. and Elee Dammous, Esq. are disinterested parties as required by 11 U.S.C. Sec. 327(a), according to court filings. The firm can be reached through: Jesus Santiago, Esq. Elee Dammous, Esq. DASA Law 14100 Palmetto Frontage Road Suite 370 Miami Lakes, FL 33016 Tel: (888) 343-DASA (3272) Fax: (659) 901-1780 Email: eService@Dasa.Law About Archangel Disciplines Archangel Disciplines, LLC, doing business as Stemtree Education Center, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18962) on August 1, 2025. At the time of the filing, the Debtor reported up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Judge Robert A. Mark presides over the case. Jesus Santiago, Esq., represents the Debtor as legal counsel. ASCEND PERFORMANCE: Hires Province LLC as Financial Advisor ----------------------------------------------------------- Ascend Performance Materials Holdings Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Province, LLC as financial advisor to the disinterested directors. The firm's services include: (a) becoming familiar with and analyzing the Debtors' assets and liabilities, and overall financial condition and liquidity during the case; (b) reviewing financial and operational information furnished by the Debtors; (c) reviewing of other operational data and agreements related to the interaction of the Debtors with Related Parties or in connection with a Transaction; (d) analyzing the Debtors' proposed business plans; (e) preparing, or reviewing as applicable, avoidance action and claim analyses; (f) advising the Special Committee in negotiations with the case constituents and third parties as necessary; (g) if necessary, participating as a witness in hearings before the bankruptcy court with respect to matters upon which Province has provided advice; and (h) providing other activities as directed by the Special Committee and as agreed to by Province. Province's current standard hourly rates are: Managing Directors and Partners $850 to $1,450 Vice Presidents, Directors, and Senior Directors $700 to $1,050 Analysts, Associates, and Senior Associates $350 to $825 Other / Para-Professional $270 to $450 In addition, the firm will seek reimbursement for its out-of-pocket expenses. Daniel Moses, a partner at Province, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel Moses Province, LLC 2360 Corporate Cir., Ste. 340 Henderson, NV 89074 About Ascend Performance Materials Holdings The Debtors, together with their non-Debtor affiliates, are one of the largest, fully-integrated producers of nylon, a plastic that is used in everyday essentials, like apparel, carpets, and tires, as well as new technologies, like electric vehicles and solar energy systems. Ascend's business primarily revolves around the production and sale of nylon 6,6 (PA66), along with the chemical intermediates and downstream products derived from it. Common applications of PA66 include heating and cooling systems, air bags, batteries, and athletic apparel. Headquartered in Houston, Texas, Ascend has a global workforce of approximately 2,200 employees and operates eleven manufacturing facilities that span the United States, Mexico, Europe, and Asia. Ascend Performance Materials Holdings Inc. and its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90127) on April 21, 2025. In the petitions signed by Robert Del Genio, chief restructuring officer, the Debtors disclosed $1 billion to $10 billion in both estimated assets and liabilities. Judge Christopher M. Lopez oversees the cases. The Debtors tapped Bracewell LLP and Kirkland & Ellis LLP as counsel; PJT Partners, Inc. as investment banker; FTI Consulting, Inc. as restructuring advisor; and Deloitte LLP as tax advisor. Epiq Corporate Restructuring LLC is the Debtors' claims, noticing, and solicitation agent. AT HOME GROUP: Committee Taps FTI Consulting as Financial Advisor ----------------------------------------------------------------- The official committee of unsecured creditors of At Home Group Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ FTI Consulting, Inc. as financial advisors. The firm's services include: -- assistance in the review and negotiation of any proposed settlements prescribing treatment for unsecured creditors under a plan of reorganization; -- assistance in the review and/or preparation of information and analysis necessary for the confirmation of a plan and related disclosure statement in these chapter 11 proceedings; -- assistance in the review of financial related disclosures required by the Court, including the Schedules of Assets and Liabilities, the Statement of Financial Affairs and Monthly Operating Reports; -- assistance in the preparation of analyses required to assess any proposed Debtor-In-Possession financing or use of cash collateral; -- assistance with the assessment and monitoring of the Debtors' short term cash flow, liquidity, and operating results; -- assistance with the review of the Debtors' proposed employee compensation and benefits programs; -- assistance with the review of the Debtors' potential disposition or liquidation of both core and non-core assets; -- assistance with the review of the Debtors' cost/benefit analysis with respect to the affirmation or rejection of various executory contracts and leases; -- assistance with the review of the Debtors' identification of potential cost savings, including overhead and operating expense reductions and efficiency improvements; -- assistance with review of any tax issues associated with, but not limited to, claims/stock trading, preservation of net operating losses, refunds due to the Debtors, plans of reorganization, and asset sales; -- assistance in the review of the claims reconciliation and estimation process; -- assistance in the review of other financial information prepared by the Debtors, including, but not limited to, cash flow projections and budgets, business plans, cash receipts and disbursement analysis, asset and liability analysis, and the economic analysis of proposed transactions for which Court approval is sought; -- attendance at meetings and assistance in discussions with the Debtors, potential investors, banks, other secured lenders, the Committee and any other official committees organized in these chapter 11 proceedings, the U.S. Trustee, other parties in interest and professionals hired by the same, as requested; -- assistance in the evaluation and analysis of avoidance actions, including fraudulent conveyances and preferential transfers; -- assistance in the prosecution of Committee responses/objections to the Debtors' motions, including attendance at depositions and provision of expert reports/testimony on case issues as required by the Committee; and -- render such other general business consulting or such other assistance as the Committee or its counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding. FTI's customary hourly rates are: Senior Managing Directors $1,225 to 1,525 Directors / Senior Directors / Managing Directors 910 to 1,155 Consultants/Senior Consultants 515 to 820 Administrative / Paraprofessionals 190 to 385 In addition, the firm will seek reimbursement for expenses incurred. Liz Hu, a senior managing director at FTI Consulting, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Liz Hu FTI Consulting Inc. 4835 East Cactus Road, Suite 230 Scottsdale, AZ 85254 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. AT HOME GROUP: Committee Taps Pachulski Stang as Counsel -------------------------------------------------------- The official committee of unsecured creditors of At Home Group Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Pachulski Stang Ziehl & Jones LLP as counsel. The firm's services include: a. assisting, advising, and representing the Committee in its consultations with the Debtors regarding the administration of the Chapter 11 Cases; b. assisting, advising, and representing the Committee with respect to the Debtors' retention of professionals and advisors with respect to the Debtors' business and the Chapter 11 Cases; c. assisting, advising, and representing the Committee in analyzing the Debtors' assets and liabilities, investigating the extent and validity of liens, and participating in and reviewing any proposed asset sales, asset dispositions, financing arrangements, and cash collateral stipulations or proceedings; d. assisting, advising, and representing the Committee in any manner relevant to reviewing and determining the Debtors' rights and obligations under leases and other executory contracts; e. assisting, advising, and representing the Committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtors, the Debtors' operations, and the desirability of the continuance of any portion of those operations, and any other matters relevant to the Chapter 11 Cases or to the formulation of a plan; f. assisting, advising, and representing the Committee in connection with any sale of the Debtors' assets; g. assisting, advising, and representing the Committee in its participation in the negotiation, formulation, or objection to any plan of liquidation or reorganization; h. assisting, advising, and representing 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; i. assisting, advising, and representing the Committee in the evaluation of claims and on any litigation matters, including avoidance actions; and j. providing such other services to the Committee as may be necessary in the Chapter 11 Cases. Pachulski's current standard hourly rates are: Partners $1,150 to $2,350 Of Counsel $1,050 to $1,850 Associates $725 to $1,225 Paraprofessionals $595 to $650 In addition, the firm will seek reimbursement for expenses incurred. The firm provided the following information in response to the request for additional information set forth in Paragraph D.1 of the Fee 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 or discounts offered 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: The firm did not represent the Committee during the 12-month period prepetition. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: The firm anticipates that the Committee's professional fees will be initially governed by the Debtor in Possession Financing order and budget approved in these cases. Bradford Sandler, Esq., a partner at Pachulski Stang Ziehl & Jones, 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: Bradford Sandler, Esq. Pachulski Stang Ziehl & Jones LLP 1700 Broadway, 36th Floor New York, NY 10019 Telephone: (212) 561-7700 Facsimile: (212) 561-7777 Email: bsandler@pszjlaw.com 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. ATTLEBORO REALTY: Amends Unsecured Claims Pay Details ----------------------------------------------------- Attleboro Realty LLC submitted a [Third Revised] Second Amended Disclosure Statement for Chapter 11 Plan of Reorganization dated August 4, 2025. According to the Schedules, the Debtor's primary asset is the Real Property. Under Schedule A/B, the scheduled value for the Real Property is $2,000,000.00 based on recent comparable sales. The assessed value for the Real Estate is $1,660,100 (as of May 2025), as made available with the City of Attleboro Assessor's Office Website. The estimated market value for the Real Property (as of January 31, 2021) was $1,200,000 ($13.00/SF) based on a certain restricted appraisal report by Sweeney Real Estate Appraisal, dated May 24, 2022 but has been increased to $2,100,000 based on a recent, informal offer to buy the Real Property communicated to Debtor's counsel by counsel to a creditor. General Unsecured Claims shall include certain insider or affiliate related Claims of approximately $386,251.00 related to (i) Estate of Joaquim Duarte/Maria Duarte (filed claim $226,292.92); (ii) North Main Realty (scheduled claim $136,140.00); (iii) Paul Simoes (scheduled claim $10,142.00); and (iv) Massachusetts Beverage (scheduled claim $13,677.00). For purposes of distribution under the Plan, such insider/affiliate related Claim holders may subordinate payments until after all other General Unsecured Claims are paid. Other unsecured claim holders include 3 Bottling ($105,000.00), and RI Beverage ($64,033.00). Simoes' wife holds a minority ownership interest in 3 Bottling. Simoes has a 20% minority interest in RI Beverage. The Debtor does not believe that either 3 Bottling or RI Beverage are Insiders as that term is defined in the Bankruptcy Code. To the extent 3 Bottling and RI Beverage are deemed insiders, they are not part of the insider claim holders postponing or waiving distributions under the Plan because they have not accepted such treatment. However, the Plan now provides that Plan consummation will require that all other finally allowed General Unsecured Claims must be paid in full in accordance with their Plan treatment (Class 6) before the Claims of 3 Bottling and RI Beverage are paid. The Plan is for the Debtor to reorganize and pay all Allowed Claims. The Plan will primarily be funded with available Cash, and certain Exit Financing. The Plan proposes to pay Allowed Claims (other than certain insider/affiliate related Claims) in full, without interest (unless specifically stated otherwise) on the Effective Date of the Claim or when Allowed. Class 6 consists of General Unsecured Claims. In full and complete satisfaction, settlement, release and discharge of the Class 6 Claims, each holder of the Class 6 Claim shall receive the amount of such holder's Allowed Claim in Cash payment on the later of: (i) the Effective Date, and (ii) as soon as practicable after the General Unsecured Claim is Allowed; provided that, there shall be no duplicative recovery for the Building 11 Claim and the Great Eastern Claim; provided further that, insider/affiliate related Claim holders may subordinate payments until after all other General Unsecured Claims are paid and, in any event, the Claims of 3 Bottling and RI Beverage will not receive payment on their Claims until all other allowed Class 6 Claims are paid in full pursuant to the Plan. Notwithstanding the foregoing, a holder of an Allowed Class 6 Claim may receive such other less favorable treatment as may be agreed upon by such holder and the Debtor. The Plan will be funded with available Cash, and the Exit Financing discussed herein and in the Plan. Under the Plan, the Allowed Claims are to be paid in full (100% distribution) but without any interest, unless specifically provided otherwise. The Plan does not propose post-petition interest as the proceeds of the Exit Financing will not be sufficient to pay such post petition interest. The Plan proposes to pay all Allowed claims in full without interest with the consent of, acceptance by, or subject to no objection to confirmation of the Plan by affected creditors, including Class 6 (General Unsecured Class). Upon the Effective Date, the Debtor will receive certain loan, as an exit financing, in the amount of $1,100,000.00 (the "Exit Financing") from Almeida Properties, LLC (the "Lender"), pursuant to the Loan Commitment Letter, dated May 12, 2025, between the Debtor and the Lender, filed with the Bankruptcy Court on May 15, 2025. Pursuant to the Loan Commitment Letter, the loan will mature after one year, and will accrue interest rate of 10%. As security for the loan, the Lender will be granted a first priority mortgage in the Real Property. Closing will be subject to entry of the Confirmation Order, and execution of loan documents within 14 days after entry of the Confirmation Order. A full-text copy of the [Third Revised] Second Amended Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=AvEOpM from PacerMonitor.com at no charge. About Attleboro Realty Attleboro Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy (Bankr. D. Mass. Case No. 24-12070) on Oct. 15, 2024. In the petition filed by Paul Simoes, as authorized representative of the Debtor, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. The Debtor is represented by: Alan L. Braunstein, Esq. RIEMER & BRAUNSTEIN LLP 100 Cambridge Street 22nd Floor Boston, MA 02114 Tel: (617) 523-9000 E-mail: abraunstein@riemerlaw.com B & W ENTERPRISES: Hires Gold Weems Bruser Sues as Counsel ---------------------------------------------------------- B & W Enterprises seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire Gold, Weems, Bruser, Sues & Rundell, APLC to handle its Chapter 11 case. The firm will be paid at these rates: Shareholders $300 to $435 per hour Associates $265 to $310 per hour Paralegals $90 per hour In addition, the firm will be reimbursed for out-of-pocket expenses incurred. The retainer fee is $15,000. Conner Dillon, Esq., a partner at Gold Weems Bruser Sues & Rundell, 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: Conner L. Dillon, Esq. Gold Weems Bruser Sues & Rundell, APLC P.O. Box 6118 Alexandria, LA 71307-6118 Tel: (318) 445-6471 Fax: (318) 445-6476 Email: bdrell@goldweems.com About B & W Enterprises B & W Enterprises is a partnership based in Monroe, Louisiana. B & W Enterprises sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 25-30804) on July 15, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge John S. Hodge handles the case. The Debtor is represented by Conner L. Dillon, Esq., at Gold, Weems, Bruser, Sues & Rundell. BACK DRAUGHTS: Seeks to Hire Erik Johanson as Bankruptcy Counsel ---------------------------------------------------------------- Back Draughts, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Erik Johanson PLLC as general bankruptcy counsel. The firm will provide a range of legal services necessary for the Debtor's Chapter 11 case, including advising on rights and obligations under the Bankruptcy Code, preparing and filing necessary motions and pleadings, representing the debtor in court proceedings, negotiating with creditors and other parties-in-interest, and assisting in the formulation and confirmation of a Chapter 11 plan. The firm will also support the debtor in fulfilling its fiduciary duties and ensuring compliance with all applicable bankruptcy rules and procedures. The firm received a pre-bankruptcy retainer of $16,800. The firm will be paid at these hourly rates: Attorneys $335 to $435 Paraprofessional Staff $125 to $175 Erik Johanson, Esq. disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Erik Johanson, Esq. Joseph R. Boyd, Esq. Erik Johanson PLLC 4532 West Beachway Drive Tampa, FL 33609 Telephone: (813) 210-9442 Email: erik@johanson.law jr@johanson.law2148 About Back Draughts LLC Back Draughts, LLC, doing business as Backdraughts Pizza, operates a wood-fired pizzeria serving pizza as its main offering, along with craft beer, fine wine, and cocktails. The family-owned business emphasizes a welcoming atmosphere and serves freshly prepared food. Back Draughts sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-05033) on July 23, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Judge Catherine Peek McEwen handles the case. Erik Johanson, Esq., at Erik Johanson, PLLC is the Debtor's legal counsel. Itria Ventures LLC, as secured creditor, is represented by: Paul A. Humbert, Esq. Law Offices of Paul A. Humbert, P.L. 9655 South Dixie Hwy, Suite 312 Miami, FL 33156 Tel: (305) 914-7862 Fax: (305) 513-5153 E-mail: pa@pahumbertlaw.com BALAJIO LLC: Gets Interim OK to Use Cash Collateral Until Sept. 4 ----------------------------------------------------------------- Balajio, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral through September 4. The second interim order signed by Judge Tiffany Geyer authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including payments to the U.S. trustee; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts subject to approval by the U.S. Small Business Administration. The Debtor's budget projects total operational expenses of $71,672.52 for the period from August 5 to September 4. As adequate protection for the Debtors' use of their cash collateral, secured creditors will be granted replacement liens on all assets acquired by the Debtor after its Chapter 11 filing that are similar to their pre-bankruptcy collateral. The replacement liens will have the same validity and priority as the secured creditors' pre-bankruptcy liens. As additional protection to secured creditors, the Debtor was ordered to keep its property insured in accordance with their loan and security agreements. The next hearing is scheduled for September 4. About Balajio LLC Balajio, LLC operates a hotel in Daytona Beach, Florida. Balajio sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03556) on June 10, 2025, listing up to $10 million in both assets and liabilities. Sameer M. Patel, managing member of Balajio, signed the petition. Judge Tiffany P. Geyer oversees the case. Justin M. Luna, Esq., at Latham Luna Eden & Beaudine, LLP, represents the Debtor as legal counsel. BEL TEMPO: U.S. Trustee Unable to Appoint Committee --------------------------------------------------- The U.S. Trustee for Region 14 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Bel Tempo, LLC. About Bel Tempo LLC Bel Tempo, LLC is a real estate holding company whose principal asset is a commercial property located at 5701 South 12th Avenue in Tucson, Arizona. Bel Tempo sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-06002) on June 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge Brenda Moody Whinery oversees the case. The Debtor is represented by John C. Smith, Esq., at Rusing Lopez & Lizardi, PLLC. BENGODWIN REALTY: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Bengodwin Realty, Inc. 28400 SW 212th Avenue Homestead, FL 33030 Business Description: Bengodwin Realty, Inc. is a real estate company based in Homestead, Florida, focusing on property brokerage and related activities. Chapter 11 Petition Date: August 4, 2025 Court: United States Bankruptcy Court Southern District of Florida Case No.: 25-19001 Debtor's Counsel: James A. Poe, Esq. JAMES A. POE, P.A. 9500 So. Dateland Blvd. Ste. 701 Miami FL 33156 Tel: (305) 670-3950 E-mail: Jpoe@jamesalanpoepa.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Benjamin Lee Sparks 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/OX727UI/Bengowin_Realty_Inc__flsbke-25-19001__0001.0.pdf?mcid=tGE4TAMA BESPOKE CONSTRUCTION: Final Cash Collateral Hearing Set for Sept. 8 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana is set to hold a hearing on September 8 to consider final approval of Bespoke Construction, LLC's bid to use cash collateral. The Debtor was initially authorized to use up to $110,000 in cash collateral from July 16 to August 7 in accordance with its budget and provide its secured creditor, Lake City Bank, with adequate protection in the form of a monthly payment of $15,000 and a replacement lien on the cash collateral and the Debtor's post-petition assets. At the hearing held on August 7, the Debtor sought a 30-day extension but Lake City Bank has not yet reviewed the budget for such period. With the bank's consent, the court authorized the Debtor to use only an amount that is necessary until the court enters its second interim order. Thereafter, the Debtor can use additional cash collateral until September 8 on terms and conditions that will be set forth in the second interim order. Lake City Bank, as secured creditor, is represented by: Susan E. Trent, Esq. Rothberg Logan & Warsco, LLP 505 East Washington Boulevard P.O. Box 11647 Fort Wayne, IN 46859-1647 Telephone: (260) 422-9454 Facsimile: (260) 422-1622 strent@rothberg.com 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. Bespoke Construction sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-04181) on July 16, 2025, listing $1,425,361 in total assets and $5,379,966 in total liabilities. Robert Cooper, authorized representative of the Debtor, signed the petition. Judge James M. Carr oversees the case. Jeffrey Hester, Esq., at Hester Baker Krebs, LLC, represents the Debtor as legal counsel. BISHOP OF FRESNO: Taps Blank Rome LLP as Special Insurance Counsel ------------------------------------------------------------------ The Roman Catholic Bishop of Fresno seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Blank Rome LLP to serve as special insurance counsel in its Chapter 11 case. Blank Rome will provide these services: (a) analyze liability insurance coverage that may be available to the Debtor for claims pending against it, including reviewing policies, claim facts, and researching policy provisions; (b) negotiate and potentially litigate with carriers to obtain appropriate defense and indemnity contributions; and (c) assist the Debtor, its primary bankruptcy counsel, and litigation counsel in insurance-related matters during the Bankruptcy Case. Blank Rome has agreed to undertake this matter at a substantial discount from its standard hourly rates. The current discounted hourly rates include: -- Barron L. Weinstein Counsel $820 -- Kevin L. Cifarelli Senior Attorney $525 -- Jeffrey L. Schulman Partner $836 -- Robyn L. Michaelson Partner $808 -- Hannah K. Ahn Associate $795 -- Partners $750 to $1,545 -- Of Counsel $635 to $1,310 -- Associates $600 to $980 -- Other staff $250 to $650 Prior to the petition date, the Debtor provided Blank Rome with a $150,000 retainer, which remains in the firm's trust account. Blank Rome received prepetition payments totaling $32,296.44. As of the petition date, the firm holds $150,000 in trust. Blank Rome is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Barron L. Weinstein, Esq. Kevin L. Cifarelli, Esq. Jeffrey L. Schulman, Esq. Robyn L. Michaelson, Esq. Hannah K. Ahn, Esq. Blank Rome LLP 2029 Century Park East, 6th Floor Los Angeles, CA 90067 Telephone: (424) 239-3400 About The Roman Catholic Bishop of Fresno The Roman Catholic Bishop of Fresno, a corporation sole, is a California nonprofit religious organization that administers the temporal affairs of the Roman Catholic Diocese of Fresno. It provides leadership, support services, and resources to 87 parishes, diocesan schools, cemeteries, and Catholic-based social and community service organizations across the diocese. Its operations are primarily funded through parish and school assessments, donations, grants, service fees, cemetery pre-need sales, and investment income. The Roman Catholic Bishop of Fresno sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 25-12231) on July 1, 2025. In its petition, the Debtor reported between $50 million and $100 million in assets and liabilities. Judge Rene Lastreto II handles the case. The Debtor is represented by Hagop T. Bedoyan, Esq., at McCormick, Barstow, Sheppard, Wayte & Carruth, LLP. Donlin, Recano & Company, Inc. is the Debtor's claims and noticing agent. BLUE HAWK: Seeks to Hire Totaro & Shanahan LLP as Counsel --------------------------------------------------------- The Blue Hawk Company LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Totaro & Shanahan, LLP as counsel. The firm's services include: a. counseling of Debtor through meetings and phone calls, discussions concerning the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules, and the United States Trustee Guidelines; b. documenting preparation or amendments concerning the petition and schedules, status reports, review and consultation concerning Monthly Operating Reports, and personal attendance at all hearings; c. consulting with Debtor's representative concerning documents needed and reports to be prepared and consultation with real estate counsel re title and other issues; d. assisting Debtor in preparation of documents for compliance with the requirements of the Office of the United States Trustee; e. negotiating with secured and unsecured creditors regarding the amount and payment of their claims; f. discussing with Debtor's representative concerning the Disclosure Statement and plan of reorganization; g. preparing of the Disclosure Statement and Chapter 11 Plan of Reorganization and any amendments/changes to the same unless filed as a Sub-V case which does not require a disclosure statement; h. submitting of ballots to creditors, tally of ballots and submission to the Court; i. responding to any objections to disclosure statement and/or plan; j. negotiating with creditors as to values, etc., and the plan of reorganization; and k. responding to any motions for relief from stay, motions to dismiss or any other motions or contested matters. The firm will be paid at these rates: Attorney $650 per hour Paralegal $200 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael R. Totaro, Esq., a partner at employ Totaro & Shanahan, 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: Michael R. Totaro, Esq. Totaro & Shanahan, LLP P.O. Box 789 Pacific Palisades, CA 90272 Telephone: (310) 804 2157 Email: Ocbatty@aol.com About The Blue Hawk Company LLC The Blue Hawk Company LLC is a Los Angeles-based real estate company. The Blue Hawk Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-16047) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtor is represented by Umer Khan, Esq. at U.KHAN LAW FIRM, APC. BMI OLDCO: Seeks to Co-Retain Province as Financial Advisor ----------------------------------------------------------- BMI Oldco Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas authorizing the special committee of BMI Oldco Inc.'s board of directors to co-retain with the Official Committee of Unsecured Creditors and employ Province, LLC as financial advisor to the Special Committee. The firm's services include: a. assisting the Special Committee to understand the financial condition of the Debtors, and their non-debtor affiliates; b. assisting the Special Committee with modeling various settlement structures using assumptions to be provided by the Special Committee (Province will not provide any opinion or judgment on the validity or appropriateness of the assumptions provided, and will not estimate the number or value of future claims); and c. other activities consistent with the Special Committee Mandate as are approved by each of the Special Committee, the Committee, and as agreed to by Province. The firm will be paid at these rates: Managing Directors and Principals $900 to $1,450 per hour Vice Presidents, Directors, and Senior Directors $700 to $1,050 per hour Analyst, Associates and Senior Associates $350 to $825 per hour Para-Professional/Admin $270 to $450 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Atkinson 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 Atkinson Province, LLC 2360 Corporate Circle, Suite 330 Henderson, NV 89074 Tel: (702) 685-5555 About BMI Oldco Inc. BMI Oldco Inc.'s (fka Barretts Minerals Inc.) 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. BOKQUA LLC: Seeks to Hire Kutner Brinen Dickey Riley as Counsel --------------------------------------------------------------- Bokqua LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Kutner Brinen Dickey Riley, P.C. 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 continuation of pending proceedings and to enjoin and stay until final decree commencement of lien foreclosure proceedings and all matters as may be provided under 11 U.S.C. Sec. 362; and e. perform all other legal services for the Debtor which may be necessary. The firm's customary hourly rates are: Jeffrey S. Brinen $540 Jenny Fujii $440 Jonathan M. Dickey $400 Keri L. Riley $390 Paralegal $100 The firm received a retainer of $80,000. Keri Riley, Esq., a partner at Kutner Brinen Dickey Riley P.C., disclosed in the court filings that the firm is a "disinterested person" within the meaning of 11 U.S.C. The firm can be reached through: Jeffrey S. Brinen, Esq. Keri L. Riley, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: klr@kutnerlaw.com About Bokqua LLC Bokqua LLC is a real estate investment company that owns and manages residential properties in the Denver metropolitan area. The Company operates in association with BVRE, a property management firm based in Denver, Colorado. Bokqua LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-14846) on July 31, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Michael E. Romero handles the case. The Debtor is represented by Jeffrey S. Brinen, Esq. at KUTNER BRINEN DICKEY RILEY. BOTICA LLC: Hires Schreeder Wheeler & Flint as Counsel ------------------------------------------------------ Botica LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Schreeder, Wheeler & Flint, LLP as counsel. Schreeder, Wheeler & Flint, LLP as counsel. The firm's services include: (a) preparing pleadings, schedules and statements of financial affairs, adversary proceedings and applications incidental to administering the Debtor's estate; (b) developing the relationship and status of the Debtor and handling of claims of creditors in the Debtor's Chapter 11 proceedings; (c) advising the Debtor of its rights, duties and obligations; (d) performing legal services incidental and necessary to the day-to-day operation of the Debtor including, but not limited to, institution and prosecution of necessary legal proceedings, debt restructuring, general business, corporate and legal advice and assistance necessary to the proper preservation and administration of the estate; (e) taking any and all necessary actions incident to the proper preservation and administration of the Debtor and to the conduct of its business; (f) preparing a plan of reorganization and disclosure statement; and (g) providing post-confirmation legal services in connection with the implementation of the plan. The firm will be paid at these rates: John A. Christy $595 per hour Jonathan A. Akins $485 per hour Jamie A. Christy $310 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: John H. Christy, Esq. Jonathan A. Akins, Esq. Jamie A. Christy, Esq. Schreeder, Wheeler & Flint, LLP 1100 Peachtree Street NE, Suite 800 Atlanta, GA 30309 Tel: (404) 681-3450 Email: jchristy@swfllp.com jakins@swfllp.com jac@swfllp.com About Botica LLC Botica LLC is an Atlanta-based restaurant operating in the food services and drinking places industry. Botica LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58444) on July 29, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 each. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the case. The Debtor is represented by Jonathan A. Akins, Esq. at Schreeder, Wheeler & Flint, LLP. BOUNDLESS BROADBAND: Chiesa & Rosner Law File Rule 2019 Statement ----------------------------------------------------------------- The law firms of Chiesa Shahinian & Giantomasi PC ("CSG") and The Rosner Law Group LLC filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 cases of Boundless Broadband, LLC and affiliates, the firms represent: 1. United States Fire Insurance Company ("U.S. Fire"), which, as of the Petition Date, executed approximately $44,721,486.00 in surety bonds (inclusive of reductions to the penal sums thereof), with respect to which certain Debtor(s) are principal(s) and/or indemnitor(s) by virtue of having executed written indemnity agreement(s) in favor of U.S. Fire; 2. The Hanover Insurance Company which, as of the Petition Date, executed approximately $17,691,048.00 in surety bonds (inclusive of reductions to the penal sums thereof), with respect to which certain Debtor(s) are principal(s) and/or indemnitor(s) by virtue of having executed written indemnity agreement(s) in favor of Hanover; and 3. Everest Reinsurance Company, which, as of the Petition Date, executed approximately $4,178,250.00 in surety bonds (inclusive of reductions to the penal sums thereof), with respect to which certain Debtor(s) are principal(s) and/or indemnitor(s) by virtue of having executed written indemnity agreement(s) in favor of Everest. None of U.S. Fire, Hanover, or Everest has any "disclosable economic interests" other than as disclosed. Neither CSG nor Rosner represent nor claim to represent any entity with respect to the Debtors' cases, and do not hold any claim against or interest in the Debtors or their estates. The law firms can be reached at: Frederick B. Rosner, Esq. THE ROSNER LAW GROUP LLC 824 N. Market Street, Suite 810 Wilmington, DE 19801 (302) 777-1111 Email: rosner@teamrosner.com And Scott A. Zuber, Esq. CHIESA SHAHINIAN & GIANTOMASI PC 105 Eisenhower Parkway Roseland, NJ 07068 (973) 530-2046 Email: szuber@csglaw.com About Boundless Broadband, LLC Boundless Broadband, LLC and two of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-10948) on May 29, 2025. In its petition, Boundless Broadband disclosed up to $50,000 million in both estimated assets and liabilities. The Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Saul Ewing LLC and Verrill Dana LLP as counsel and Alastar Partners, LLC as restructuring advisor. The Debtors' claims and noticing agent is Omni Agent Solutions, Inc. BRIGHTLINE TRAIN FLORIDA: Bondholders Tap Lawyers for Debt Talks ---------------------------------------------------------------- Soma Biswas, Alicia McElhaney and Andrew Scurria of The Wall Street Journal report that Brightline, Florida's high-speed rail service owned by Fortress Investment Group, is in negotiations with municipal bondholders to push back a repayment deadline as it looks to secure fresh capital to pay down debt, sources said. The bondholder group has engaged law firm HSF Kramer, formerly Kramer Levin, to advise on talks regarding an August 13, 2025 deadline to redeem $985 million in tax-exempt "commuter bonds" tied to financing for rail lines connected to Brightline's main route, according to the sources. About Brightline Train Florida Brightline offers high-speed rail between Miami, Fort Lauderdale, and Orlando. BRIGHTLINE TRAINS: S&P Lowers Unenhanced Bonds Rating to 'BB-' -------------------------------------------------------------- S&P Global Ratings lowered to 'BB-' from 'BB+' its issue-level rating on the unenhanced bonds issued by the Florida Development Finance Corp. for the benefit Brightline Trains Florida LLC (Brightline) and the underlying rating on the bonds guaranteed by Assured Guaranty Inc. (AG). S&P rates the $1.133 billion bonds guaranteed by AG 'AA'. The senior debt of Brightline East LLC is rated CCC+/Negative. Long-distance ridership, which accounts for about three quarters of Brightline's ticket revenue, increased by 18% year-over-year but fell about 9% short of our previous base-case projection and exceeded our downside case by 21%. S&P said, "While during ramp-up we continue to rate to our downside forecast, our rating action reflected that ridership and revenues aren't growing fast enough to support the stabilization expected under our previous base case. Current long-distance revenues (on a trailing 12-month basis) are 40%, of our revised stabilized levels in 2029." Ticket pricing is the chief challenge to achieving a successful ramp-up. When S&P last updated its forecast in April 2025, S&P lowered the assumed average long-distance ticket price to $82.15 for 2025 based on the trend observed at the start of the year, when prices rose to $82.38 in March from over $67.40 in January. However, the average long-distance ticket price has declined to $69.34 as of June 2025. S&P said, "We expected that increases in train capacity in April and June would spur short-distance ridership increases, which had been intentionally suppressed to make room for more expensive long-haul trips and allow management to better optimize train occupancy. However, the increased capacity hasn't resulted in a meaningful increase in short-distance ridership. Management expects to reintroduce commuter discounts and adjust train schedules to better accommodate short-distance riders. "Projecting ticket prices during ramp-up is challenging, as Brightline actively uses discounts as a tool to encourage new ridership, much of which it believes will eventually convert to repeat ridership. Peak travel tends to occur in autumn and winter, and while we expect some improvement over the current prices, we believe it's increasingly likely the year-over-year ramp-up in fares and revenues will be insufficient to achieve our expected levels under the base and downside cases. "We continue to rate the project into two phases: Phase 1 (the ramp up phase from 2024 to 2028) and Phase 2 (starting in 2029, when we assume project is stabilized). "Ramp-up and lower ticket prices are increasing the variance below our previous base case and decreasing head room above the downside case to which we currently rate, resulting in actual performance that is gradually approaching the downside case. Because of this, we revised our base case and and downside case. These reductions decrease the minimum DSCR to 1.65x from 2.38x under our base case. "The negative outlook reflects that to date, Brightline hasn't been able to meaningfully increase long-distance fares, resulting in ticket revenues that continue to further depart from our base-case expectations. We have revised our long-distance revenue forecast accordingly, but Brightline will need to show significant improvement in ticket revenue--2028 revenue is 2.4x 2024 actual revenue under our revised base case as ridership ramps up--to put it on a sustainable path through ramp-up and to stabilization. "We could lower the rating on Brightline by one or more notches within the next year if the project does not perform materially better than our downside case, absent an injection of liquidity. We could also lower the rating if the dispute with FECR materially and adversely affects Brightline's operations or financial position. "We could revise the outlook to stable if performance during the ramp-up period approaches and remains at or around our revised base case. An upgrade is unlikely in the near term." BULLER MEDIA: Gets Final OK to Use Cash Collateral -------------------------------------------------- Buller Media Corporation received final approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The final order authorized the Debtor to use the cash collateral of Bay First National Bank, a secured creditor, in accordance with its budget retroactive to the date of filing of its Chapter 11 case. As adequate protection for any diminution in the value of its collateral, Bay First will be granted a continuing lien on property acquired by the Debtor after the bankruptcy filing, with the same priority and extent as the bank's pre-bankruptcy lien. The Debtor has two outstanding loans with Bay First totaling over $230,000, secured by personal property such as equipment, accounts, and other business assets. It has about $30,151 in bank accounts, $4,389 in accounts receivable, and approximately $25,855 in equipment. About Buller Media Corporation Buller Media Corporation sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09018) on June 13, 2025, listing up to $50,000 in assets and up to $500,000 in liabilities. Steven E. Buller, president of Buller Media, signed the petition. Judge Timothy A. Barnes oversees the case. The Debtor is represented by: Joel A. Schechter, Esq. Law Office Of Joel A. Schechter Tel: 312-332-0267 joel@jasbklaw.com BULLER MEDIA: Hires Joel A. Schechter as Bankruptcy Counsel ----------------------------------------------------------- Buller Media Corporation received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire the Law Offices of Joel A. Schechter as counsel. The firm will render these services: (a) give the Debtor legal advice with respect to its powers and duties in the continued operation of the business and financial affairs; (b) prepare on behalf of the Debtor necessary legal papers; and (c) perform all other legal services for the Debtor which may be necessary in the prosecution of this proceeding. The firm received a retainer of $17,500. Joel Schechter, Esq., an attorney of the firm, 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: Joel A. Schechter, Esq. Law Offices of Joel A. Schechter 53 W. Jackson Blvd., Suite 860 Chicago, IL 60604 Telephone: (312) 332-0267 Email: joel@jasbklaw.com About Buller Media Corporation Buller Media Corporation sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09018) on June 13, 2025. In the petition signed by Steven E. Buller, president, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Timothy A. Barnes oversees the case. The Debtor is represented by: Joel A Schechter, ESQ Law Office Of Joel A. Schechter Tel: (312) 332-0267 Email: joel@jasbklaw.com CARAWAY TEA: Hires Freedom Financial Solutions as Accountant ------------------------------------------------------------ Caraway Tea Company, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Freedom Financial Solutions LLC as accountant. The firm will provide these services: a. give advice regarding bookkeeping and accounting pertaining to the Debtor and the Debtor's business; b. review and adjust the Debtor's bookkeeping and accounting systems to conform to generally accepted accounting principles; c. prepare the Debtor's monthly operating reports as required by the Office of the U.S. Trustee; d. assist in reviewing and revising financial projections for a plan of reorganization; and e. prepare and file the Debtor's tax returns. The firm will be paid a flat monthly rate of $2,000. Gina Mann 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: Gina Mann Freedom Financial Solutions LLC 766 Sergeant Palmateer Way Wappingers Falls, NY 12590 Tel: (845) 8421 About Caraway Tea Company, LLC Caraway Tea Company LLC is a U.S.-based private label tea manufacturer and co-packer that supplies specialty teas, supplements, and wholesale tea products. With over 20 years of experience, the Company sources from global tea-growing regions including China, India, Sri Lanka, and Japan, partnering directly with artisan growers using organic and sustainable practices. Caraway offers customized co-packing services across retail, foodservice, and e-commerce sectors, supported by in-house blending and manufacturing capabilities. Caraway Tea Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-35620) on June 9, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. The Debtors are represented by Michael D. Pinsky, Esq. at LAW OFFICE OF MICHAEL D. PINSKY, P.C. CAROLINA'S CONTRACTING: Hires Donald Tedder CPA as Accountant ------------------------------------------------------------- Carolina's Contracting, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of North Carolina to employ Donald Tedder, CPA as accountant. Mr. Tedder will assist the Debtor in the preparation of tax returns and financial. Mr. Tedder will be paid at the rate of $300 per hour. Mr. Tedder 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: Donald Tedder, CPA 4020 Cyprus Ct. Indian Trail, NC 28079 Tel: (980) 252-2722 About Carolina's Contracting, LLC Carolina's Contracting LLC is a licensed general contractor based in Davidson, North Carolina, specializing in land development and grading services. Established in 2013, Company offers a range of services including grading, storm drainage, sanitary sewer, waterline installation, culverts, and stone base work. Carolina's Contracting sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. N.C. Case No. 25-50284) on April 28, 2025. In its petition, the Debtor reported total assets of $31,405,291 and total liabilities of $25,942,522. Judge Lena M. James oversees the case. The Debtor is represented by: Dirk W. Siegmund, Esq. Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP Tel: (336) 274-4658 Email: dws@iveymcclellan.com CLAIRE'S STORES: Plans to Close Over 1,100 Stores in Ch. 11 Filing ------------------------------------------------------------------ Linda Moss of CoStar News reports that Claire's has identified more than 1,100 U.S. stores for possible closure and warned it may have to liquidate after seeking bankruptcy protection for the second time, marking another unsuccessful comeback attempt after a previous Chapter 11 filing. The Hoffman Estates, Illinois-based retailer -- which operates Claire's and Icing stores -- filed for voluntary Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, August 6, 2025, and plans to make a similar filing in Ontario under Canada's Companies' Creditors Arrangement Act for its Canadian operations. The company is reviewing offers for its assets but cautioned that it could close its entire store fleet if a sale does not materialize. In July, Claire's engaged Hilco Merchant Resources to begin store-closing sales, instructing the firm to liquidate all or part of its U.S. and U.S. territory locations if a going-concern transaction cannot be achieved, according to CoStar News. Claire's attributed its latest financial difficulties to online competition, emerging rivals such as Lovisa, Rowan, and Studs, declining mall traffic, tariffs on goods from China, debt burdens, underperforming locations, and high lease costs. It joins other retailers -- including Party City and Forever 21 -- that have filed for Chapter 11 twice in recent years, some ultimately liquidating, the report relays . According to Coresight Research, U.S. store closures in 2025 continue to surpass openings, with 6,032 closures announced so far compared to 4,260 openings. Court filings include a list of 1,119 stores — 1,018 Claire's and 101 Icing — slated for potential going-out-of-business sales, though the list could change depending on asset divestitures. The 207 Walmart store-in-store locations are not included. Claire's declined to comment, and Hilco did not respond to CoStar News’ request for comment. About Claire's Stores Claire's Stores, Inc. -- http://www.clairestores.com/-- is a specialty retailer of jewelry, accessories, and beauty products for young women, teens, "tweens," and kids. Through the Claire's brand, the Claire's Group has a presence in 45 nations worldwide, through a total combination of over 7,500 Company-owned stores, concessions locations, and franchised stores. Headquartered in Hoffman Estates, Illinois, the Company began as a wig retailer by the name of "Fashion Tress Industries" founded by Rowland Schaefer in 1961. In 1973, Fashion Tress Industries acquired the Chicago-based Claire's Boutiques, a 25-store jewelry chain that catered to women and teenage girls. Following that acquisition, Fashion Tress Industries changed its name to "Claire's Stores, Inc." and shifted its focus to a full line of fashion jewelry and accessories. In 2007, the Company was taken private and acquired by investment funds affiliated with, and co-investment vehicles managed by, Apollo Management VI, L.P. Claire's Group employs approximately 17,000 people globally. Claire's Stores, Inc., and 7 affiliates sought Chapter 11 protection (Bankr. D. Del. Case No. 18-10584) on March 19, 2018, after reaching terms of a balance sheet restructuring with their first lien lenders and sponsor Apollo Global Management, LLC. As of Oct. 28, 2017, Claire's Stores reported $1.98 billion in total assets against $2.53 billion in total liabilities. The Hon. Brendan Linehan Shannon is the case judge. The Debtors tapped Weil, Gotshal & Manges LLP as their bankruptcy counsel; Richards, Layton & Finger, P.A. as local counsel; FTI Consulting as restructuring advisor; Lazard Freres & Co. LLC as investment banker; Hilco Real Estate, LLC as real estate advisor; and Prime Clerk as claims agent and administrative advisor. Andrew R. Vara, Acting U.S. Trustee for Region 3, appointed seven creditors to serve on an official committee of unsecured creditors. The Committee retained Cooley LLP, as counsel, and Bayard, P.A., as co-counsel. 2nd Chapter 11 Attempt Claire' Stores sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. 25-11462) on August 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Debtor is represented by Zachary I. Shapiro, Esq. at Richards, Layton & Finger, P.A. CLEVER BEING: Section 341(a) Meeting of Creditors on September 9 ---------------------------------------------------------------- On August 1, 2025, Clever Being LLC filed Chapter 11 protection in the Western District of Washington. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) filed by Caitlyn Myerson on behalf of United States Trustee to be held on September 9, 2025 at 10:00 AM via Telephonic Creditors Meeting. About Clever Being LLC Clever Being LLC, operating as Terreworks Landscaping and Elite Horticulture, provides landscaping and horticultural services in the Seattle, Washington area. Clever Being LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-12154) on August 1, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Christopher M. Alston handles the case. The Debtor is represented by Jennifer L. Neeleman at Neeleman Law Group, P.C. COGLIANO INTEGRATED: Taps Nicholson Devine LLC as Legal Counsel --------------------------------------------------------------- Cogliano Integrated Technologies, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Nicholson Devine LLC as counsel. The firm will provide these services: (a) advise the Debtor with respect to its rights, powers and duties in the continued operation and management of its business; (b) advise the Debtor with respect to any plan of reorganization and any other matters relevant to the formulation and negotiation of a plan or plans of reorganization in this case; (c) represent the Debtor at all hearings and matters pertaining to its affairs; (d) prepare, on the Debtor's behalf, all necessary and appropriate applications, motions, answers, orders, reports, and other pleadings and other documents, and review all financial and other reports filed in this Chapter 11 case; (e) advise the Debtor with respect to, and assist in the negotiation and documentation of, financing agreements, debt and cash collateral orders and related transactions; (f) review and analyze the nature and validity of any liens asserted against the Debtor's property and advise concerning the enforceability of such liens; (g) advise the Debtor regarding its ability to initiate actions to collect and recover property for the benefit of its estate; (h) advise and assist the Debtor in connection with the potential sale of its assets; (i) advise the Debtor concerning executory contract and unexpired lease assumptions, lease assignments, rejections, restructurings and recharacterization of contracts and leases; (j) review and analyze the claims of the Debtor's creditors, the treatment of such claims and the preparation, filing or prosecution of any objections to claims; (k) commence and conduct any and all litigation necessary or appropriate to assert rights held by the Debtor, protect assets of its Chapter 11 estate or otherwise further the goal of completing the its successful reorganization other than with respect to matters to which the Debtor retains special counsel; and (l) perform all other legal services and provide all other necessary legal advice to the Debtor which may be necessary in its bankruptcy proceeding. The firm will be paid at these hourly rates: Kate Nicholson, Partner $400 Christine Devine, Partner $400 Associate $250 - $325 Paralegals $125 - $150 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $30,000. Ms. Nicholson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Kate E. Nicholson, Esq. Nicholson Devine LLC 21 Bishop Allen Dr. Cambridge, MA 02139 Telephone: (857) 600-0508 Email: kate@nicholsondevine.com About Cogliano Integrated Technologies Inc. Cogliano Integrated Technologies Inc. provides low voltage installation and integration services, including cloud solutions, smart building systems, teledata, fiber infrastructure, security integration, and audiovisual setups. The Company manages all phases of low voltage integration projects, from design through commissioning, with a focus on reducing costs and streamlining project execution. Cogliano sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11384) on July 3, 2025, listing up to $1 million in assets and up to $50 million in liabilities. Richard Cogliano, president of Cogliano, signed the petition. Kate E. Nicholson, Esq., at Nicholson Devine, LLC, represents the Debtor as legal counsel. COMMSCOPE HOLDING: Sells CCS Segment to Amphenol for $10.5 Billion ------------------------------------------------------------------ CommScope (NASDAQ: COMM) announced that it has entered into a definitive agreement to sell its Connectivity and Cable Solutions (CCS) segment to Amphenol Corporation (NYSE: APH). The Company is selling its CCS business to Amphenol for approximately USD $10.5 billion in cash, to be paid by Amphenol upon closing. The sale is expected to close within the first half of 2026, subject to customary closing conditions, including receipt of applicable regulatory approvals and the affirmative vote of the shareholders. The vote is required under Delaware law due to the nature and size of the transaction. The Company expects net proceeds after taxes and transaction expenses to be approximately $10 billion. After repaying all debt, redeeming all preferred equity, which is held by global investment firm Carlyle (NASDAQ: CG), and adding modest leverage on the remaining business, the Company will have significant excess cash. The Company expects to distribute this excess cash to shareholders as a dividend within 60 to 90 days following the closing of the proposed transaction. The exact amount and timing of the dividend will be determined by the Company after closing and after taking into account all relevant factors. "I'm excited to announce this transformational deal that unlocks equity value, returns cash to our shareholders and strengthens our remaining businesses," said Chuck Treadway, CEO, CommScope. "ANS and RUCKUS will continue to stay focused on what matters most--our shareholders, customers, employees and other stakeholders. In our ANS and RUCKUS businesses, we will continue to develop the next generation of network connectivity. CommScope's CCS business is positioned to continue to perform well under Amphenol's leadership." About CommScope Holding Headquartered in Hickory, North Carolina, CommScope Holding Company, Inc. -- https://www.commscope.com -- is a global provider of infrastructure solutions for communication, data center, and entertainment networks. The Company's solutions for wired and wireless networks enable service providers, including cable, telephone, and digital broadcast satellite operators, as well as media programmers, to deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to their subscribers. This allows enterprises to experience constant wireless and wired connectivity across complex and varied networking environments. As of March 31, 2025, CommScope Holding Company had $7.5 billion in total assets, $8.8 billion in total liabilities, $1.2 billion in Series A convertible preferred stock and total stockholders' deficit of $2.5 billion. * * * S&P Global Ratings raised its Company credit rating on CommScope Holding Co. Inc. to 'CCC+' from 'CCC' and removed all its ratings on the company from CreditWatch, where S&P placed them with positive implications on Dec. 23, 2024, as reported by the TCR on Feb. 14, 2025. S&P said, "The stable outlook reflects our expectation for reduced default risk over the next 12 months due to the company's recent debt paydown and refinancing and improving credit metrics." In March 2025, Moody's Ratings upgraded CommScope Holding Company, Inc.'s ratings including the corporate family rating to Caa1 from Caa2 and the probability of default rating to Caa1-PD from Caa3-PD. CommScope's speculative grade liquidity (SGL) rating was upgraded to SGL-3 from SGL-4. The new backed senior secured term loan and backed senior secured notes issued in December 2024 at CommScope's subsidiary, CommScope, LLC. were assigned a B3 rating and the existing secured notes were confirmed at B3. The existing senior unsecured notes at CommScope, LLC and CommScope Technologies LLC were upgraded to Caa3 from Ca. The B3 rating on the backed senior secured term loan due 2026 was withdrawn. The outlook is stable, previously the ratings were on review for upgrade. These actions conclude the review for upgrade that was initiated on January 8, 2025. The ratings upgrade reflects the refinancing of debt due in 2025 and 2026 with a combination of about $2.1 billion in assets sale proceeds and $4.15 billion in new secured debt as well as Moody's expectations for a significant improvement in operating performance that will lead to a reduction in leverage levels well below 9x in 2025. The ratings are constrained by the existing high pro forma leverage (over 10x as of Q4 2024, including Moody's standard lease adjustments) and the significant amount of debt due in 2027 ($1.6 billion as of Q4 2024). COZY HARBOR: Taps Corporate Finance Associates as Business Broker ----------------------------------------------------------------- Cozy Harbor Seafood, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Maine to hire Corporate Finance Associates New England, LLC and Corporate Finance Securities, Inc. as business broker and transaction advisor. The firm will render these services: (a) conduct an investigation and analysis with respect to the businesses and operations of the Debtors and of the industry and markets in which they operate; (b) prepare a Summary Executive Profile and a Confidential Information Memorandum (the "CIM") and other evaluation material as is customary or as CFA considers appropriate in the circumstances; (c) contact buyers via written or email communication, telephone calls and/or in person, and provide the CIM and other materials to potential buyers; (d) solicit written offers from buyers outlining a range of value, terms of a sale or investment, sources of funding, and timeline for completion of a transaction; (e) when appropriate, arrange and participate in visits by selected buyers, and make such introductions and perform such services as CFA believes desirable to develop buyers’ interest in the businesses; (f) assist the Debtors in negotiations with buyers and analyzing transaction proposals; (g) assist the Debtors in managing the due diligence process; and (h) assist the Debtors in the negotiation and execution of the final definitive agreements and in the closing of a transaction. The firm will be compensated as follows: (a) CFA shall be reimbursed for reasonable, actual out-of-pocket expenses of the engagement, such as travel and lodging. (b) When each of the Transaction(s) are closed, the Debtors shall pay a success fee in cash equal to 5.50 percent of the Transaction Value, except that, for any senior debt financing commitments (including any renewals, maturity extensions, or forbearance of any kind) obtained for, and accepted by the Debtors, the Debtors shall pay CFA in cash an amount equal to 1.50 percent of such financing amount. In addition, the Debtors paid to CFA a non-refundable Engagement and Marketing Work Fee of $30,000. Peter Moore, Esq., managing director of Corporate Finance 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: Peter Moore Corporate Finance Associates One Union Street, Suite 200 Portland, ME 04101 Tel: (207) 772-2221 About Cozy Harbor Seafood Inc. Cozy Harbor Seafood, Inc. is the oldest and most experienced processor of lobster in the United States. It is a primary processor with its main processing plant in Portland, Maine. In business since 1980, Cozy Harbor has established itself in the U.S. and world markets as the most respected source of high-quality seafood products from Maine. Cozy Harbor Seafood sought Chapter 11 protection (Bankr. D. Maine Case No. 25-20160) on July 1, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Michael A. Fagone oversees the case. D. Sam Anderson, Esq., at Bernstein Shur Sawyer & Nelson is the Debtor's legal counsel. CS-ORED LLC: Seeks Chapter 11 Bankruptcy in California ------------------------------------------------------ On August 6, 2025, CS-ORED LLC filed Chapter 11 protection in the Northern District of California. According to court filing, the Debtor reports $3,832,140 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About CS-ORED LLC CS-ORED LLC is a real estate holding company based in Oakdale, California, that owns a portfolio of eight residential properties located on Tiffani Court, Tiffani Way, Robin Court, and Old Stockton Road. The properties are in varying stages of construction, with some completed and others still under development. As of July 17, 2025, the portfolio had a completed appraised value of $5.41 million. CS-ORED LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-51204) on August 6, 2025. In its petition, the Debtor reports total assets of $5,410,000 and total liabilities of $3,832,140. Honorable Bankruptcy Judge M Elaine Hammond handles the case. The Debtor is represented by Lars Fuller, Esq. at THE FULLER LAW FIRM PC. D & M VENTURES: Hires Law Office of H. Anthony Hervol as Counsel ---------------------------------------------------------------- D & M Ventures, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ the Law Office of H. Anthony Hervol as counsel. The firm will render these services: (a) represent the Debtor in this Chapter 11 case and advise the Debtor as to its rights, powers, and duties; (b) negotiate and prepare one or more plans of reorganization for the Debtor; (c) represent the Debtor at all hearings, meetings of creditors, conferences, trials, and other proceedings in the bankruptcy case; (d) take necessary action to collect property of the estate and file suits to recover the same, pursue or defend other adversary proceedings as needed, or work with special counsel appointed by the court to pursue or defend any adversary proceedings; (e) prepare legal papers; (f) object to disputed claims; (g) prepare and present of final accounting and motion for final decree closing the bankruptcy case; and (h) perform all other legal services for the Debtor. The firm will be paid at its hourly rate of $325. The firm received a retainer in the amount of $11,738. H. Anthony Hervol, Esq., an attorney at Law Office of H. Anthony Hervol, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: H. Anthony Hervol, Esq. Law Office of H. Anthony Hervol 22211 IH-10 West, Suite 1206-168 San Antonio, TX 78257 Tel: (210) 522-9500 Fax: (210) 522-0205 Email: hervol@sbcglobal.net About D & M Ventures, LLC D & M Ventures, LLC provides real estate consulting and development services, with a focus on public-private housing projects. It operates in Texas and holds a financial interest related to a multifamily housing development in Pharr. D & M Ventures sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 25-51433) on June 30, 2025, with $14,007,929 in assets and $906,188 in liabilities. Cynthia A. Marquez, D & M Ventures manager, signed the petition. Judge Craig A. Gargotta presides over the case. H. Anthony Hervol, Esq., at the Law Office of H. Anthony Hervol represents the Debtor as legal counsel. D TUR HOTEL: Gets Final OK to Use Cash Collateral ------------------------------------------------- D Tur Hotel, LLC received final approval from the U.S. Bankruptcy Court for the Eastern District of California to use cash collateral. The final order authorized the Debtor to use cash collateral to pay its expenses in accordance with its latest budget, which projects total operational expenses of $295,074 for the period from June to November. These expenses do not include management, owner representative and professional fees. The Debtor is not allowed to make any payments to insiders until approved by a separate court order. As adequate protection, State Bank of India and other secured creditors will get replacement liens on the Debtor's assets whether acquired before or after the petition date, with the same priority as its pre-bankruptcy liens. The replacement liens do not apply to any avoidance actions. As additional protection, State Bank of India will receive a monthly payment of $12,000. Secured creditors' interests in replacement collateral are automatically perfected by entry of the final order. About D Tur Hotel LLC D Tur Hotel LLC operates a motel property in Turlock, California. D Tur Hotel sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-90467) on June 6, 2025. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge Christopher D. Jaime handles the case. The Debtor is represented by Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger. State Bank of India, as secured creditor, is represented by: Christopher D. Crowell, Esq. Hemar, Rousso & Heald, LLP 15910 Ventura Boulevard, 12th Floor Encino, CA 91436 Telephone: (818) 501-3800 Facsimile: (818) 501-2985 ccrowell@hrhlaw.com DATAVAULT AI: Inks $12M Registered Direct Convertible Note Deal --------------------------------------------------------------- Datavault AI Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a Securities Purchase Agreement with certain institutional investors, pursuant to which the investors agreed to purchase from the Company in a registered direct offering, senior secured convertible notes having an aggregate principal amount of $6,666,666 (the "Initial Notes") for an aggregate purchase price of $6,000,000 and senior secured convertible notes having an aggregate principal amount of $6,666,666 (the "Additional Notes", and together with the Initial Notes, the "Notes") for an aggregate purchase price of $6,000,000 upon satisfaction of certain closing conditions applicable to the Initial Notes and Additional Notes, respectively. The closing of Initial Notes (the "Initial Closing") will take place upon satisfaction of certain customary closing conditions set forth in the Purchase Agreement. The closing of the Additional Notes (the "Additional Closing," and together with the Initial Closing, the "Closings"), subject to the satisfaction of certain additional closing conditions, will take place on or after the date that is 20 calendar days after the mailing by the Company of a definitive information statement on Schedule 14(c) with respect to the approval, by written consent of the Company's stockholders, of the issuance of the shares of common stock of the Company, par value $0.0001 per share issuable upon conversion of the Notes and the issuance of the shares of Common Stock pursuant to the Exchange Agreements (the "Stockholder Approval"). The Notes and Conversion Shares will be offered by the Company pursuant to a registration statement on Form S-3 (File No. 333-288538), which was initially filed with the Securities and Exchange Commission on July 7, 2025, and was declared effective by the Commission on July 9, 2025. Obligations Under the Purchase Agreement: Pursuant to the Purchase Agreement, the Company agreed, subject to certain exceptions: (i) not to offer for sale, issue, sell, contract to sell, pledge or otherwise dispose of any of shares of Common Stock or securities convertible into shares of Common Stock until 45 days after the date of each Closing, and (ii) not to issue certain securities if the issuance would constitute a Variable Rate Transaction (as such term is defined in the Purchase Agreement) until no Purchasers holds any Notes. Pursuant to the Purchase Agreement, until the date that is 18 months after the date on which the Notes are no longer outstanding, the Purchasers have the right, but not the obligation, to participate in any issuance by the Company of any debt, preferred stock, shares of Common Stock or securities convertible into shares of Common Stock (a "Subsequent Financing") up to a maximum of 65% of such Subsequent Financing on the same terms, conditions and price provided to other investors in such Subsequent Financing. Notes: The Notes carry a 10% original issue discount, and mature 18 months from the date of issuance. No interest accrues during the term of the Notes, unless an event of default occurs, in which case interest will accrue at a rate of 12% per annum. The obligations under these Notes rank senior to all other existing indebtedness and equity of the Company. The Notes are convertible at any time beginning on the date of Stockholder Approval at the option of the holders thereof, in whole or in part, into such number of shares of Common Stock (the "Conversion Shares") at an initial conversion price equal to $1.00 per share (the "Conversion Price"). Alternatively, following the date of the Stockholder Approval, the Notes are convertible at the holder's election, at a price (the "Alternate Conversion Price") equal to the greater of (x) the Floor Price (as defined below) and (y) 80% of the lowest volume weighted adjusted price of the shares of Common Stock (the "VWAP") in the 20 trading days prior to the applicable conversion date ("Alternate Conversions"). The conversion price of the Notes is subject to a floor price of $0.1019. In the event the Alternate Conversion Price would be lower than the Floor Price, the Company is required to compensate the holders of the Notes by paying the holders in cash an amount (the "Alternate Conversion Floor Amount") equal to the product obtained by multiplying (A) the VWAP on the day the holder delivers the applicable conversion notice and (B) the difference obtained by subtracting (I) the number of shares of Common Stock delivered (or to be delivered) to the holder on the applicable share delivery date with respect to such Alternate Conversion from (II) the quotient obtained by dividing (x) the applicable conversion amount that the holder has elected to be the subject of the applicable Alternate Conversion, by (y) the applicable Alternate Conversion Price without being limited by the Floor Price. Under the Notes, the Company is required to use up to 20% of the proceeds from future financings to redeem the Notes in an amount equal to the aggregate principal amount of the Notes being redeemed from such proceeds multiplied by 105%. The Notes contain 4.99/9.99% beneficial ownership limitations and customary provisions regarding events of defaults and negative covenants. Security Agreement and Guarantee: In connection with the registered direct offering (the "Offering"), the Company agreed to forms of documents to be executed at or prior to the Initial Closing, consisting of: (i) a security agreement, which will grant to the holders of the Notes a security interest in all of the assets of the Company, and (ii) a subsidiary guarantee, pursuant to which certain subsidiaries of the Company will guarantee the Company's obligations under the Notes. Exchange Agreements: Pursuant to the Purchase Agreement, on August 4, 2025, the Company entered into exchange agreements with certain holders of the Company's common stock purchase warrants. Pursuant to the Exchange Agreements, the Holders agreed to exchange: (a) their common stock purchase warrants (the "Original Warrants") exercisable for an aggregate of approximately 31 million shares of Common Stock, for (b) the same number of shares (the "Exchange Shares") of Common Stock, subject to receipt of the Stockholder Approval. The Exchange Shares, once the Stockholder Approval is obtained, will be issued pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) thereof. Amendment of Prior Notes: At the Initial Closing, the Company is expected to enter into agreements with the Purchasers to amend those certain senior secured convertible notes issued on April 3, 2025 and May 21, 2025 (collectively, the "Prior Notes") under a securities purchase agreement dated as of March 31, 2025, between the Company and the Purchasers in accordance with a certain Senior Secured Convertible Note Amendment. Once the Note Amendment is entered into, the conversion price under an "Alternate Conversion" (as defined in the Prior Notes) will be revised from (a) the greater of (x) the floor price set forth in the Prior Notes and (y) 90% of the lowest VWAP in the ten (10) trading days prior to the applicable date for the Alternate Conversion to (b) the greater of (x) the floor price set forth in the Prior Notes and (y) 80% of the lowest VWAP in the 20 trading days prior to the applicable date for the Alternate Conversion. Placement Agency Agreement: In connection with the Offering, on August 4, 2025, the Company entered into a placement agency agreement with Maxim Group LLC, pursuant to which the Placement Agent agreed to act as placement agent on a "reasonable best efforts" basis in connection with the Offering. Pursuant to the Placement Agency Agreement, the Company agreed to pay the Placement Agent an aggregate fee equal to 8.0% of the gross proceeds raised in the Offering and reimburse the Placement Agent an amount up to $15,000 for expenses in connection with the Offering. Sullivan & Worcester LLP, counsel to the Company, delivered an opinion as to the validity of Conversion Shares and the enforceability of the Notes, a copy of which is available at https://tinyurl.com/3jrzjsbx About Datavault AI Datavault AI Inc. (f/k/a WiSA Technologies, Inc.) -- www.wisatechnologies.com -- develops and markets spatial audio wireless technology for smart devices and home entertainment systems. The Company's WiSA Association collaborates with consumer electronics companies, technology providers, retailers, and industry partners to promote high-quality spatial audio experiences. WiSA E is the Company's proprietary technology for seamless integration across platforms and devices. San Jose, California-based BPM LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company's recurring losses from operations, a net capital deficiency, available cash and cash used in operations raise substantial doubt about its ability to continue as a going concern. The Company has incurred net operating losses each year since inception. As of December 31, 2024, the Company had cash and cash equivalents of $3.3 million and reported net cash used in operations of $17.5 million during the year ended December 31, 2024. The Company expects operating losses to continue in the foreseeable future because of additional costs and expenses related to research and development activities, plans to expand its product portfolio, and increase its market share. The Company's ability to transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support its cost structure. DEL MONTE: Hires Cole Schotz as Bankruptcy Co-Counsel ----------------------------------------------------- Del Monte Foods Corporation II Inc. and its affiliated debtors seek approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Cole Schotz P.C. as bankruptcy co-counsel. Cole Schotz will perform these services: (a) oversee investigations as directed by the Debtors' Special Investigation Committee; (b) provide legal advice regarding the Debtors' rights, powers, and duties as debtors in possession; (c) offer guidance regarding local rules, practices, procedures, and Third Circuit law; (d) assist with administration tasks, including preparation of agendas, hearing notices, and binders; (e) advise on reporting obligations to the Court and U.S. Trustee; (f) prepare motions and applications related to bankruptcy administrative matters; (g) review and comment on drafts of pleadings; (h) appear in court and at meetings with the U.S. Trustee and creditors; (i) advise on matters where co-counsel HSF Kramer may have a conflict or based on specialization; (j) perform other necessary legal services to support the Debtors' duties as debtors in possession; and (k) respond to creditor and party-in-interest inquiries directed to Cole Schotz. Cole Schotz's attorneys and paralegals will be compensated at these hourly rates: -- $615 to $1,575 for members -- $625 to $840 for special counsel -- $380 to $675 for associates, and -- $315 to $460 for paralegals. The Debtors paid Cole Schotz $327,814.18 during the 90 days before the petition date. As of the Petition Date, the firm held a retainer of $1,003,469.82. According to court filings, Cole Schotz is a "disinterested person" as defined under Section 101(14) of the Bankruptcy Code. The following disclosures were made in accordance with 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? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: Cole Schotz has historically provided general corporate services to the Debtors and, beginning approximately one month prior to the Petition Date, began rendering restructuring services to the Debtors. During that time, Cole Schotz did not raise its billing rates. The material financial terms remain the same. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: Yes. Pursuant to the Interim DIP Order, the Debtors must furnish regular budget and variance reports, which include detail regarding the fees and expenses incurred by the proposed professionals of the Debtors in these Chapter 11 Cases. Cole Schotz can be reached at: Michael D. Sirota, Esq. David M. Bass, Esq. Felice R. Yudkin, Esq. COLE SCHOTZ P.C. Court Plaza North, 25 Main Street Hackensack, NJ 07601 Telephone: (201) 489-3000 Email: msirota@coleschotz.com dbass@coleschotz.com fyudkin@coleschotz.com About Del Monte Foods Corporation II Inc. Del Monte Foods, Inc. produces, distributes, and markets branded plant-based packaged food products in the United States and Mexico. Del Monte Foods Corporation II Inc. and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) on July 1, 2025, listing $1,000,000,001 to $10 billion in both assets and liabilities. Judge Michael B Kaplan presides over the case. Michael D. Sirota, Esq. at Cole Schotz P.C. represents the Debtor as counsel. DEL MONTE: Hires Herbert Smith Freehills as Legal Counsel --------------------------------------------------------- Del Monte Foods Corporation II Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Herbert Smith Freehills Kramer (US) LLP to serve as legal counsel in its Chapter 11 case. HSF Kramer will provide these services: (a) represent the Debtors as their attorneys in connection with the Chapter 11 cases; (b) provide legal advice to the Debtors with respect to their powers and duties in these Chapter 11 proceedings; (c) prepare and file on behalf of the Debtors all necessary motions, applications, answers, orders, reports, and other legal papers; and (d) perform all other legal services for the Debtors that may be necessary and proper in these Chapter 11 cases. HSF Kramer's billing rates are: -- Partners $1,550 to $2,200 -- Counsel $1,370 to $2,100 -- Special Counsel $1,325 to $1,545 -- Associates $835 to $1,545 -- Paralegals $385 to $715 HSF Kramer is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. Adam C. Rogoff, Esq. also made the following disclosures in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: The firm has not agreed to any variations from, or alternatives to, its standard billing arrangements for this engagement. As discussed herein, the firm’s standard billing arrangements include a voluntary volume-based discount, which will continue to be provided during the Chapter 11 cases. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: HSF Kramer adjusts its billing rates annually, effective each January 1. The last adjustment was on January 1, 2025. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: Yes. Pursuant to the Interim DIP Order, the Debtors must furnish regular budget and variance reports, which include details regarding the fees and expenses incurred by the proposed professionals in these Chapter 11 cases. The firm can be reached at: Adam C. Rogoff, Esq. Rachael L. Ringer, Esq. Megan M. Wasson, Esq. Ashland J. Bernard, Esq. HERBERT SMITH FREEHILLS KRAMER (US) LLP 1177 Avenue of the Americas New York, NY 10036 Telephone: (212) 715-9100 About Del Monte Foods Corporation II Inc. Del Monte Foods, Inc. produces, distributes, and markets branded plant-based packaged food products in the United States and Mexico. Del Monte Foods Corporation II Inc. and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) on July 1, 2025, listing $1,000,000,001 to $10 billion in both assets and liabilities. Judge Michael B Kaplan presides over the case. Michael D. Sirota, Esq. at Cole Schotz P.C. represents the Debtor as counsel. DEL MONTE: Retains PJT Partners LP as Investment Banker ------------------------------------------------------- Del Monte Foods Corporation II Inc. has filed an application with the U.S. Bankruptcy Court seeking approval to retain PJT Partners LP as its investment banker in its Chapter 11 case. PJT Partners will provide these services: (a) evaluate the Debtors' businesses, assets, and operations; (b) assist in developing restructuring strategies and financial alternatives; (c) identify potential strategic transactions, including mergers, sales, or recapitalizations; (d) assist in obtaining debtor-in-possession financing or exit financing; (e) provide expert testimony as needed in court; and (f) perform such other investment banking services as may be agreed upon in connection with these Chapter 11 cases. The firm's fee structure includes a monthly advisory fee, transaction fees based on the consummation of specific restructuring or financing events, and reimbursement of reasonable out-of-pocket expenses. According to court filings, PJT Partners LP is a "disinterested person" as defined under Section 101(14) of the Bankruptcy Code. The firm disclosed that it has not agreed to any rate variations based on location, has not altered billing terms pre- or post-petition, and intends to provide a staffing plan and budget for its services. PJT Partners LP can be reached at: PJT Partners LP 280 Park Avenue New York, NY 10017 Telephone: (212) 364-7800 Website: www.pjtpartners.com About Del Monte Foods Corporation II Inc. Del Monte Foods, Inc. produces, distributes, and markets branded plant-based packaged food products in the United States and Mexico. Del Monte Foods Corporation II Inc. and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) on July 1, 2025, listing $1,000,000,001 to $10 billion in both assets and liabilities. Judge Michael B Kaplan presides over the case. Michael D. Sirota, Esq. at Cole Schotz P.C. represents the Debtor as counsel. DEL MONTE: Seeks to Hire Stretto Inc. as Administrative Advisor --------------------------------------------------------------- Del Monte Foods Corporation II Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Stretto, Inc. as Administrative Advisor in its Chapter 11 case. Stretto 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; (b) prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; (c) assist with the preparation of the Debtors' schedules of assets and liabilities and statements of financial affairs and gather data in conjunction therewith; (d) manage and coordinate any distributions pursuant to a chapter 11 plan if designated as distribution agent under such plan; and (e) provide claims analysis and reconciliation, case research, and any related services otherwise required by applicable law, government regulations, or court rules or orders in connection with these Chapter 11 Cases. The Debtors have agreed to compensate Stretto under the terms set forth in the engagement agreement dated June 20, 2025. Stretto's fees are described as competitive and comparable to industry rates. Prior to the filing, Stretto received a $25,000 advance, which may only be applied to postpetition services as Administrative Advisor upon court approval. According to the court filings, Stretto is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtors, their estates, or creditors. The firm can be reached at: Sheryl Betance STRETTO INC. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 E-mail: sheryl.betance@stretto.com About Del Monte Foods Corporation II Inc. Del Monte Foods, Inc. produces, distributes, and markets branded plant-based packaged food products in the United States and Mexico. Del Monte Foods Corporation II Inc. and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) on July 1, 2025, listing $1,000,000,001 to $10 billion in both assets and liabilities. Judge Michael B Kaplan presides over the case. Michael D. Sirota, Esq. at Cole Schotz P.C. represents the Debtor as counsel. DIACARTA INC: Hires Law Offices of Michael Jay Berger as Counsel ---------------------------------------------------------------- DiaCarta, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ the Law Offices of Michael Jay Berger as counsel. The firm will render these services: (a) prepare a Chapter 11 bankruptcy schedules and statements; (b) advise regarding the Debtor's legal rights and obligations in a bankruptcy proceeding; (c) file notices of automatic stay; (d) assist in preparing the documents and reports required by the Office of the United States Trustee; (e) represent at the first meeting of creditors; (f) represent in opposition to any motion for relief from stay that may be filed; (g) assist in preparing the paperwork needed to continue and conclude a Chapter 11 proceeding; (h) respond to creditor inquiries; (i) review proofs of claim filed in your bankruptcy; (j) object to inappropriate claims; (k) respond to all motions filed in your bankruptcy proceeding; (l) negotiate with creditors as needed; and (m) prepare a proposed disclosure statement and plan of reorganization. The firm will be paid at these rates: Michael Berger, Partner $695 per hour Sofia Davtyan, Partner $645 per hour Angela Gill, Senior Associate $595 per hour Robert Poteete, Mid-Level Associate $475 per hour Senior Paralegal and Law Clerk $275 per hour Paralegal $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $25,000, plus $1,738 filing fee from the Debtor. Mr. Berger, the sole owner of the firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Jay Berger, Esq. Law Offices of Michael Jay Berger 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 Email: Michael.berger@bankruptcypower.com About DiaCarta, Inc. DiaCarta Inc. is a precision diagnostics company that develops and provides molecular testing solutions for cancer and infectious diseases. It offers products such as RadTox, ColoScape, and Oncuria, leveraging proprietary XNA and isobDNA technologies to enable sensitive detection of genetic alterations. DiaCarta serves healthcare providers and patients globally through its suite of clinical diagnostic tests and services. DiaCarta sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-41215) on July 10, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger. DIAMOND RENOVATIONS: Hires Norred Law PLLC as Counsel ----------------------------------------------------- Diamond Renovations, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Norred Law, PLLC as counsel. The firm will render these services: (a) advise the Debtor of its powers and duties in the management of its property; (b) attend meetings and negotiate with representatives of creditors and other parties in interest; (c) assist the Debtor in preparation of all administrative documents required to be filed or prepared herein, and prepare, on behalf of the Debtor, all necessary legal documents as applicable; (d) take such actions as is necessary to preserve the assets and interests of the estate; (e) advise the Debtor in connection with any potential sale of assets; (f) assist the Debtor in formulating a disclosure statement, and in the formulation and confirmation of a plan of reorganization; (g) appear before the court and the United States Trustee, and protect the interest of the Debtor estate before the court and trustee; and (h) perform any and all other legal services that may be necessary to protect the rights and interests of the Debtor in the proceeding and any actions later commenced in this Chapter 11 case. The firm will be paid at these rates: Attorneys $300 to $525 per hour Paraprofessionals $90 to $120 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $16,738 from the Debtor. Clayton Everett, Esq., an attorney at Norred 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 through: Clayton L. Everett, Esq. Norred Law, PLLC 515 E. Border Street Arlington, TX 76010 Telephone: (817) 704-3984 Email: clayton@norredlaw.com About Diamond Renovations, Inc. Diamond Renovations Inc. provides residential and commercial roofing and remodeling services in the Dallas Fort Worth area. The Company specializes in roof replacements, repairs, exterior carpentry, and painting. Diamond Renovations Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42386) on June 30, 2025. In its petition, the Debtor reports total assets of $482,406 and total liabilities of $1,061,209. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtors are represented by Clayton L. Everett, Esq. at NORRED LAW, PLLC. DIOCESE OF NEW ORLEANS: First Bank Out as Committee Member ---------------------------------------------------------- David Asbach, Acting U.S. Trustee for Region 5, disclosed in a notice that as of August 8, these creditors are the remaining members of the official committee of unsecured commercial creditors in the Chapter 11 case of The Roman Catholic Church of the Archdiocese of New Orleans: 1. Crescent Door & Hardware, Inc. c/o Neuville C. Hotstream, Sr. 6100 Humphreys Street New Orleans, LA 70123 Phone: 504-733-8366 Email: neuville@cdhno.com Counsel: Wayne Jablonowski, APLC 3705 Ponchartrain Drive Slidell, LA 70458 Phone: 985-646-1300 wayne@wjjlaw.com 2. Brown Rice Marketing, LLC c/o Mark W. Brown 476 Metairie Road, Suite 202 Metairie, LA 70005 Phone: 504-274-4855 mark@brownricemarketing.com 3. MetroStudio, LLC c/o Heather Gorman 6501 Spanish Fort Blvd. New Orleans, LA 70124 Phone: 504-283-3685 hgorman@metrostudio.net First Bank and Trust was previously identified as member of the commercial creditors committee. Its name no longer appears in the new notice. 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. On March 5, 2021, the U.S. Trustee appointed an official committee to represent unsecured commercial creditors in the Debtor's Chapter 11 case. DR. JOHN DAIGNAULT: Taps Nicholson Devine LLC as Legal Counsel -------------------------------------------------------------- Dr. John Daignault P.C. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Nicholson Devine LLC as counsel. The firm's services include: a. advising the Debtor with respect to his rights, powers and duties as a debtor-in-possession in the continued operation and management of his business; b. advising the Debtor with respect to any plan of reorganization and any other matters relevant to the formulation and negotiation of a plan or plans of reorganization in this case; c. representing the Debtor at all hearings and matters pertaining to his affairs as a debtor and debtor-in-possession; d. preparing, on the Debtor's behalf, all necessary and appropriate applications, motions, answers, orders, reports, and other pleadings and other documents, and reviewing all financial and other reports filed in this Chapter 11 case; e. advising the Debtor with respect to, and assisting in the negotiation and documentation of, financing agreements, debt and cash collateral orders and related transactions; f. reviewing and analyzing the nature and validity of any liens asserted against the Debtor's property and advising the Debtor concerning the enforceability of such liens; g. advising the Debtor regarding his ability to initiate actions to collect and recover property for the benefit of his estate; h. advising and assisting the Debtor in connection with the potential sale of the Debtor's assets; i. advising the Debtor concerning executory contract and unexpired lease assumptions, lease assignments, rejections, restructurings and recharacterization of contracts and leases; j. reviewing and analyzing the claims of the Debtor's creditors, the treatment of such claims and the preparation, filing or prosecution of any objections to claims; k. commencing and conducting any and all litigation necessary or appropriate to assert rights held by the Debtor, protect assets of the Debtor's chapter 11 estate or otherwise further the goal of completing the Debtor's successful reorganization other than with respect to matters to which the Debtor retains special counsel; and l. performing all other legal services and providing all other necessary legal advice to the Debtor as debtor-in-possession which may be necessary in the Debtor's bankruptcy proceeding. The firm will be paid at these hourly rates: Kate Nicholson, Partner $400 Christine Devine, Partner $400 Associate $250 Paralegals $125 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $25,000. Ms. Nicholson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Kate E. Nicholson, Esq. Nicholson Devine LLC 21 Bishop Allen Dr. Cambridge, MA 02139 Telephone: (857) 600-0508 Email: kate@nicholsondevine.com About Dr. John Daignault P.C. Dr. John Daignault P.C. is a professional corporation based in Braintree, Massachusetts. Dr. John Daignault P.C. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11389) on July 3, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christopher J. Panos handles the case. The Debtors are represented by Kate E. Nicholson, Esq. at Nicholson Devine LLC. DUNBAR PROPERTIES: Hires Garden State as Insurance Adjuster ----------------------------------------------------------- Dunbar Properties LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to retain Garden State Public Adjusters, Inc. as its insurance adjuster in its Chapter 11 case. Garden State Public Adjusters will provide these services: (a) after initial inspection, assessment, reviewing the policy, securing the contract, and reporting to the carrier; (b) secondary inspection and photographs; (c) appointment scheduled and on-site loss negotiated with carrier's adjuster; (d) follow-up emails, phone calls, and revisions, if necessary; (e) review carrier's estimate, prepare a list of differences, and conduct further negotiations; (f) prepare and notarize a Proof of Loss/Statement of Loss; (g) follow-up on correspondence and prepare settlement paperwork; and (h) negotiate claim for any supplemental monies, if necessary. The firm will be compensated on a contingency basis at a rate of 10% of the net settlement, not to exceed 50%, and payment will be due after proofs of loss are submitted and settlement is received. According to court documents, payment to the professional may only be made after satisfactory completion of services and as approved by the court. The firm can be reached at: Garden State Public Adjusters, Inc. P.O. Box 1303 Marlton, NJ 08053 Telephone: (800) 404-1881 Facsimile: (856) 983-7004 E-mail: gardenstatepublicadjusters@verizon.net About Dunbar Properties LLC Dunbar Properties LLC owns 15 real estate assets across multiple locations in Camden, New Jersey. The properties have a combined current value of $1.27 million. Dunbar Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-15368) on May 20, 2025. In its petition, the Debtor reports total assets of $1,268,700 and total liabilities of $1,830,098. Honorable Judge Andrew B. Altenburg Jr. oversees the case. The Debtors are represented by David A. Kasen, Esq. at KASEN & KASEN, P.C. DXP ENTERPRISES: Moody's Affirms 'B1' CFR, Outlook Stable --------------------------------------------------------- Moody's Ratings affirmed DXP Enterprises, Inc.'s (DXP) B1 Corporate Family Rating, B1-PD Probability of Default Rating and senior secured term loan B rating at B2. The SGL-2 Speculative Grade Liquidity Rating also remains unchanged. The outlook is stable. RATINGS RATIONALE DXP's Corporate Family Rating of B1 reflects company's small scale compared to peers, exposure to cyclical end markets and moderate leverage. The company's sales increased more than 80% between 2020 and LTM March 2025; DXP expects to continue increasing revenues by around 20% annually through organic growth and bolt-on acquisitions. The larger scale has allowed to improve company's operating margin to around 8% in 2025 from 3.6% in 2021 and to reduce its exposure to the oil and gas sector. Despite this expansion, the company's revenues are expected to remain within the lower end of the B category for the foreseeable future. The company's management has a positive track record achieving its growth objectives while maintaining leverage below 3.75x. Acquisitions have been historically funded through a combination of incremental debt and free cash flow. Moody's expects DXP's free cash flow will remain positive over the next 18 months supported on low maintenance capex requirements (around 0.5% of sales) and countercyclical working capital requirements. While the company doesn't distribute common dividends, they have repurchased shares for more than $160 million in 2021-2024. DXP's senior secured term loan due October 2030 is rated B2, one notch below the CFR, reflecting the lower priority of its claim relative to the borrowings under the ABL revolving credit facility. In a distressed scenario the collateral available to term loan lenders likely will not be sufficient to cover the principal amount of the loan. Accordingly, Moody's believes the B2 rating on the term loan is more appropriate than the rating suggested by Moody's Loss Given Default for Speculative-Grade Companies methodology. The SGL-2 Speculative Grade Liquidity Rating reflects Moody's expectations the company will maintain good liquidity supported on its positive free cash flow, $185 million ABL credit facility due in 2027 and cash on balance sheet. The company has historically maintained its ABL largely unutilized ($108.9 million availability at March 2025). DXP is subject to two financial covenants -- a maximum net secured leverage ratio under the term loan agreement and a springing fixed charge coverage ratio of 1.0x under the revolving credit facility. Moody's expects the company to remain in compliance with the financial covenants through 2026. DXP has no near-term maturities; the term loan is due in 2030. The stable outlook reflects Moody's expectations that DXP's business will maintain credit metrics supportive of the B1 CFR. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS An upgrade in the company's ratings is constrained by its modest scale. However, an upgrade could be considered if the company's EBITDA exceeds $300 million, EBIT margin exceeds six percent on a sustained basis, and debt to EBITDA is less than 3.0x. The ratings could be downgraded if revenues decline below $1.5 billion, EBIT margin fall below 4%, leverage exceeds 4.5x, the company does not produce positive free cash flow through the cycle. DXP Enterprises, Inc. (Nasdaq: DXPE), headquartered in Houston, TX, is a distributor and service provider to energy industry, food and beverage, and industrial customers. It distributes maintenance, repair, operating (MRO) products and equipment and provides integrated supply and other services. DXP also engages in value added activities such as assembling skid mounted rotating equipment packages and limited pump manufacturing. The company is organized in three business segments — Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS) — and has operations throughout the US and Canada as well as a sales office in Dubai. The principal methodology used in these ratings was Distribution and Supply Chain Services published in December 2024. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. E2OPEN LLC: S&P Withdraws 'B' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------ S&P Global Ratings withdrew all of its ratings on E2open LLC--including the 'B' issuer credit rating and 'B' issue-level ratings on its first-lien term loan and the revolving credit facility--upon the completion of the company's acquisition by WiseTech Global Ltd. (not rated). Concurrent with the acquisition, E2open fully repaid all its debt and terminated its existing credit agreement, and the company no longer has any rated debt outstanding. At the time of the withdrawal, S&P's outlook on the company was stable. EASTMAN KODAK: Issues Going Concern Warning After Shares Fall ------------------------------------------------------------- Lara Sanli of Bloomberg Law reports that Eastman Kodak said there is "substantial doubt" about its ability to remain a going concern. According to Bloomberg Law, the company aims to use funds expected from the return of cash after settling obligations under its Retirement Income Plan to reduce term debt, and will seek to amend, extend, or refinance its remaining debt and preferred stock. Shares dropped roughly 12% in after-hours trading, the report states. About Eastman Kodak Co. Rochester, New York-based Eastman Kodak Company and its U.S. subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11 petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan. Subsidiaries outside of the U.S. were not included in the filing and are expected to continue to operate as usual. Kodak, founded in 1880 by George Eastman, was once the world's leading producer of film and cameras. Kodak sought bankruptcy protection amid near-term liquidity issues brought about by steeper-than-expected declines in Kodak's historically profitable traditional businesses, and cash flow from the licensing and sale of intellectual property being delayed due to litigation tactics employed by a small number of infringing technology companies with strong balance sheets and an awareness of Kodak's liquidity challenges. Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt & Taylor, LLP, served as counsel to the Debtors. FTI Consulting, Inc., was the restructuring advisor; and Lazard Freres & Co. LLC, the investment banker. Kurtzman Carson Consultants LLC was the claims agent. The Official Committee of Unsecured Creditors tapped Milbank, Tweed, Hadley & McCloy LLP, as its bankruptcy counsel. Akin Gump Strauss Hauer & Feld LLP, represented the Unofficial Second Lien Noteholders Committee. The Retirees Committee hired Haskell Slaughter Young & Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper, LLC, as Bankruptcy Consultants and Financial Advisors; and the Segal Company, as Actuarial Advisors. Brown Rudnick LLP, represented Greywolf Capital Partners II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth S. Grossman; and Paul Martin. Kodak completed the $527 million sale of digital-imaging technology on Feb. 1, 2013. U.S. Bankruptcy Judge Allan Gropper confirmed the plan on August 20, 2013. Kodak and its affiliated debtors officially emerged from bankruptcy protection on Sept. 3, 2013. ELMA TRANSPORT: Court Extends Cash Collateral Access to Aug. 29 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois extended Elma Transport, Inc.'s authority to use cash collateral until August 29. The Debtor was authorized to access cash collateral in accordance with the terms of the initial order entered on July 1 and the budget. The Debtor's 30-day budget projects total operational expenses of $724,000. A status hearing is scheduled for August 27. About Elma Transport Inc. Elma Transport, Inc. is an Illinois-based trucking company. Elma Transport sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-09866) on June 27, 2025. In its petition, the Debtor reported assets between $100,001 and $500,000 and liabilities between $500,001 and $1 million. Judge Janet S. Baer handles the case. The Debtor is represented by Saulius Modestas, Esq., at Modestas Law Offices, P.C. TBK Bank, SSB, as secured creditor, is represented by: Jeffrey P. Monberg, Esq. Quarles & Brady, LLP 155 N. Wacker Drive, Suite 3200 Chicago, IL 60606 Tel: (312) 715-5162 jeff.monberg@quarles.com ERS MEDICAL: Seeks to Tap Farsad Law Office as Bankruptcy Counsel ----------------------------------------------------------------- ERS Medical, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Farsad Law Office, P.C. as its general bankruptcy counsel. The firm's services include: a. advising the Debtor on bankruptcy duties, strategy, and compliance; b. preparing and filing schedules, statements, pleadings, and the reorganization plan; c. representing the Debtor at hearings, in negotiations with creditors, and before the U.S. Trustee; and d. drafting and responding to motions, objections, and applications as required. The Debtor retained the firm on or about May 27, 2025, and paid $18,000 comprised of a $16,262 retainer and the $1,738.00 Chapter 11 filing fee. The firm's rates are: Arasto Farsad (Partner) $400/hour Nancy Weng (Partner) $400/hour Paralegals $150/hour Out-of-pocket costs (e.g., filing fees, postage, copies, PACER, etc.) will be billed at actual or standard rates. In addition, the firm will seek reimbursement for expenses incurred. Mr. Farsad 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: Arasto Farsad, Esq. Farsad Law Office, P.C. 1625 The Alameda, Ste. 525 San Jose, CA 95126 Telephone: (408) 641-9966 Facsimile: (408) 866-7334 Email: af@farsadlaw.com About ERS Medical Inc. ERS Medical Inc. provides biomedical equipment services, including installation, calibration, inspection, and repair, for healthcare facilities. It specializes in life support and general biomedical equipment such as patient monitors, infusion pumps, defibrillators, anesthesia machines, and ultrasound systems. It operates with a team experienced in the biomedical field, including former field service engineers and U.S. Army-trained contractors. ERS Medical sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-23668) on July 17, 2025. In its petition, the Debtor reported total assets of $125,743 and total liabilities of $1,018,196. JudgeÂ Christopher M. Klein handles the case. The Debtor is represented by Arasto Farsad, Esq., at Farsad Law Office, P.C. ESCO OIL: Unsecured Creditors to Get 16.6 on Dollar in Plan ----------------------------------------------------------- ESCO Oil Operating Company LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Small Business Plan of Reorganization under Subchapter V dated August 4, 2025. The Debtor is a limited liability company formed and organized under the laws of the State of Texas on July 28, 2024. At all material times, it has been engaged in the business of operating oil wells on behalf of the owners of the wells by means of employing the services of various subcontractors to provide materials and labor from the drilling of the wells to the extraction and delivery of oil and natural gas. The Plan Proponent's financial projections show that ESCO will have projected disposable income from its regular operations of $2,800 per month. The Debtor has resumed its operations of 28 producing wells owned by CST and is guaranteed $2,800 per month in income from such operations. ESCO anticipates it will have the ability to enter into agreements with other entities for permitting and operation of additional oil wells. This Plan of Reorganization proposes to pay creditors of the Debtor by using special litigation counsel to (a) enforce and collect a $5 million judgment against Diamond Energy Services, LP, a company that has transferred most of its assets to third parties (b) setting aside transfers of assets by Diamond Energy Services, LP, to third parties under the Texas Uniform Fraudulent Transfers Act, and (c) prosecute counterclaims against (1) Arrow Drilling Company, for damages arising from its negligent drilling of a well and (2) and Rise Drilling Company for breach of contract. Recovered funds from which will be used to offset any allowed claims these entities may have against ESCO and recover additional funds for payment of creditors' claims. Non-priority unsecured creditors holding allowed claims will receive distributions, which the Plan Proponent has valued at approximately 16.6 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 2 consists of General Unsecured Claims. Holders of Allowed Claims in Class 2 will be paid all proceeds remaining after payment of allowed administrative claims and all required cash payments to holders of allowed Priority Tax Claims and Secured Tax Claims. Following payment of all allowed priority tax claims, the Reorganized Debtor shall make minimum payments of $7,500, each calendar quarter to the creditors on a pro rata basis. When additional funds become available from the prosecution of any claims, such funds shall be paid to the creditors on a pro rata basis. Class 3 consists of the equity interests of the Debtor's Member, the Estate of Jack L. Davis, Deceased. As a result of confirmation of this Plan, the Estate of Jack L. Davis, Deceased will retain its membership interest in the Debtor. No distribution of cash or property of the Reorganized Debtor may be made to any individual or entity in Class 3 until all amounts required to be paid to any creditor or party in interest in Section IV, Class 1, and Class 2 have been paid in full. Initial payments to creditors will be made from revenues from Debtor's operations. The Reorganized Debtor shall prosecute all claims it has against Arrow Drilling Company and Rise Drilling Company. The Reorganized Debtor shall further take all efforts to collect its final judgment against Diamond Energy Services, and, in its business judgment, prosecute possible causes of action against unidentified third parties to set aside any potential fraudulent transfers of its assets under the Texas Uniform Fraudulent Transfer Act. A full-text copy of the Plan of Reorganization dated August 4, 2025 is available at https://urlcurt.com/u?l=P2Pauj from PacerMonitor.com at no charge. Counsel for the Debtor: Leonard H. Simon, Esq. William P. Haddock, Esq. Pendergraft & Simon, LLP 2777 Allen Parkway, Suite 800 Houston, TX 77019 Tel: (713) 528-8555 Fax: (713) 868-1267 About ESCO Oil Operating Company ESCO Oil Operating Company, LLC is a Texas-based oil and gas operator engaged in managing producing wells primarily in Maverick County. It is headquartered in Houston and holds mineral interests across multiple counties in the state. ESCO Oil Operating Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-32573) on May 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez handles the case. The Debtor tapped Leonard Simon, Esq., at Pendergraft & Simon, LLP as bankruptcy counsel and Bjornrae Kemp, Esq., at Calhoun, Meredith, PLLC as litigation counsel. FLUID MARKET: Plans Liquidation After Asset Sale ------------------------------------------------ James Nani of Bloomberg Law reports that Fluid Market Inc., a bankrupt truck-sharing platform, has moved to shift its Chapter 11 case to a trustee-managed liquidation, saying it lacks the funds to continue the wind-down and sees little chance of additional recoveries. The company sold most of its assets to Kingbee Rentals LLC in December 2024 for over $10 million, but said in an Aug. 8 filing in the U.S. Bankruptcy Court for the District of Delaware that the cost of paying bankruptcy professionals and priority claims makes it untenable to proceed under Chapter 11. About Fluid Market Fluid Market, Inc., et al., operate and manage a technology-based, peer-to-peer truck-sharing platform across the United States with a fleet of nearly 5,500 vehicles owned by their non-Debtor affiliates or third-party owners who have elected to put their vehicles on the Debtors' platform, https://www.fluidtruck.com. Customers have quick and easy access to the right vehicle whenever they need it via the Debtors' mobile app and website. Fluid Market Inc. and Fluid Fleet Services, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-12363) on Oct. 16, 2024. In the bankruptcy petition, Fluid Market reported $50 million to $100 million in assets and liabilities. The petition was signed by T. Scott Avila as chief executive officer. Pachulski Stang Ziehl & Jones LLP serves as the Debtors' counsel. Paladin Management Group, LLC acts as the Debtors' restructuring advisor; SSG Capital Advisors, LLC acts as investment banker to the Debtors; and Epiq Corporate Restructuring LLC is claims and noticing agent to the Debtors. FOUR HATS: Unsecureds Will Get 4.14% via Quarterly Payments ----------------------------------------------------------- Four Hats Inc. filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Disclosure Statement for Plan of Reorganization dated July 30, 2025. The Debtor has been operating since 2015 and was incorporated in Georgia in 2016 to provide traffic control services for construction, utility maintenance, emergency response, and special events (including, movie/film, sports events, concerts, and tradeshows) across Georgia and Texas. The Debtor is a registered vendor of the Georgia Department of Transportation. Debtor operates from its leased warehouses and offices in Fayetteville, Georgia and Texas. On the Filing Date, Debtor had approximately 66 employees. Debtor pays salaried employees bi-monthly and hourly employees weekly. On the Filing Date, Debtor was facing collection action from numerous creditors including high interest lenders who were sending payment demands to Debtor's customers to pay the lenders rather than Debtor. Debtor was forced to file bankruptcy to address its cash shortages and stop collection activity. The Plan contemplates the reorganization and ongoing business operations of Debtor and the resolution of the outstanding Claims against and Interests in Debtor pursuant to Sections 1129(b) and 1123 of the Bankruptcy Code. The Plan classifies all Claims against and Interests in Debtor into separate Classes. Class 33 consists of General Unsecured Claims. The Debtor shall pay the Holders of Class 33 General Unsecured Claims a pro rata share of $90,000.00 paid at the quarterly rate of $4,5002 per quarter (the "Total Class 33 Distribution") (or, an approximate 4.14% distribution). Quarterly payments to Holders of Class 33 General Unsecured Claims shall commence on March 28, 2026, and continue by the 28th day of each subsequent June, September, December, and March for a total of 20 payments totaling $90,000 to be shared pro-rata. Notwithstanding anything else in this Plan to the contrary, any Class 33 Claims shall be reduced by any payment received by the creditor holding such claim from any third party or other obligor and Debtor's obligations thereunder shall be reduced accordingly. The Class 33 Claims are Impaired by the Plan and the Holders of the Class 33 Claims are entitled to vote to accept or reject the Plan. Class 34 consists of Interest Claims. If the Class 33 General Unsecured Creditors vote to accept the Plan as a class, then David Garten shall retain 100% of the interest in the Debtor. If the Class 33 Unsecured Creditors do not vote to accept the Plan, as a class, then the following terms shall apply: * All pre-petition Interests in Debtor shall be cancelled. David Garten shall receive 100% of the newly-issued stock in the Debtor upon the Effective Date in exchange for the payment of $5,000.00. The $5,000.00 contribution by the principal of the Debtor shall constitute "new value." New value is the vehicle through which current equity holders purchase the equity interest of the Debtor. Efforts of an existing equity holder to purchase the equity interest of the Debtor may be subject to competing bids in the market place under certain circumstances. Specifically, if Class 33 General Unsecured Creditors do not vote to accept the Plan as a class as set forth in this provision, then, in that event third parties may be able to purchase the equity interest of the Debtor by appearing at the Confirmation Hearing and submitting a higher bid for the equity interests. The requirements for and validity and sufficiency of any such competing bid shall be subject to the approval and review of the Court. The source of funds for the payments pursuant to the Plan is the continued operation of Debtor. The Plan provides that Debtor shall act as the Disbursing Agent to make payments under the Plan unless Debtor appoints some other entity to do so. Debtor may maintain bank accounts under the confirmed Plan in the ordinary course of business. Debtor may also pay ordinary and necessary expenses of administration of the Plan in due course. A full-text copy of the Disclosure Statement dated July 30, 2025 is available at https://urlcurt.com/u?l=ga6yyd from PacerMonitor.com at no charge. Counsel to the Debtor: Leslie M. Pineyro, Esq. Jones & Walden LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Tel: (404) 564-9300 Email: lpineyro@joneswalden.com About Four Hats Inc. Four Hats Inc. is a veteran-owned company that specializes in providing traffic control services and equipment. Established in 2015, the Company operates in Georgia and Texas, serving industries such as construction, utilities, film and special events, and emergency response. Four Hats Inc. is committed to ensuring safety and efficiency through certified professionals handling traffic management solutions like flagging, lane shifts, utility crossings, and detours. Four Hats Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-10554) on April 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Leslie Pineyro, Esq. at JONES & WALDEN LLC. FRESH ACQUISITIONS: Plan Trustee Appeals Removal, Seeks Stay ------------------------------------------------------------ In the adversary proceeding captioned as DAVID GONZALES, TRUSTEE OF THE FRESH ACQUISITIONS LIQUIDATING TRUST, Plaintiff, v. ALLEN JACKIE JONES, et al., Defendants, Adv. No. 22-3087-sgj (Bankr. N.D. Tex.), Judge Stacey G. Jernigan of the United States Bankruptcy Court for the Northern District of Texas entered a Memorandum Opinion and Order: (a) declaring that post-confirmation liquidating trustee's entry into litigation funding agreement, without notice or court authority, was improper and, as a result, liquidating trust has no contractual obligation relating to same; (b) directing appointment of a replacement post-confirmation liquidating trustee; and (c) requiring expanded global mediation. On Dec. 20, 2021, after approving a section 363 sale of substantially all of the assets of the Debtors, the bankruptcy court confirmed a Chapter 11 Plan liquidating plan, that was proposed by the Official Committee of Unsecured Creditors appointed in the Bankruptcy Case. The Plan was a typical liquidating "pot plan," pursuant to which a trust (the "Liquidating Trust" or "Trust") was created, and an individual named David Gonzales, with a firm called Caliber Advisors, LLC in Scottsdale, Arizona, was selected to be the Liquidating Trustee. Mr. Gonzales had been a financial advisor to the UCC pre-petition, and apparently the UCC wanted him to serve as the Liquidating Trustee because he was already somewhat familiar with issues that would be litigated postconfirmation. The Debtors, in opposition, had argued that conversion to a Chapter 7 case, after the sale, would be a more cost-efficient way to wind down the estate than the UCC Plan. Not surprisingly, the UCC disagreed. The Plan went effective on Jan. 4, 2022. In accordance with the terms of the Plan, the Confirmation Order, and the Fresh Acquisitions Liquidating Trust Agreement, all of the Debtors' assets, as defined in section 541 of the Bankruptcy Code, including "Causes of Action," were transferred to and vested in the Liquidating Trust. The Liquidating Trustee was granted standing to prosecute the Causes of Action. The Liquidating Trustee (David Gonzales, the former financial advisor to the UCC) immediately took on his role as of the Effective Date of the Plan and hired the former lawyers for the UCC to represent him (Dickinson Wright PLLC). On Sept. 12, 2022, approximately nine months after confirmation, the Liquidating Trustee filed the Adversary Proceeding. The long-awaited original complaint named 22 defendants (plus additional "John and Jane Does" and other unknown, fictitious entities) and set forth 27 causes of action. These 27 causes of action (which were mostly, if not entirely, alleged against "insiders" or "affiliates" of the Debtors) ranged from alleged fraudulent transfers, to mismanagement, to breach of fiduciary duties, to misappropriation of government PPP funds, and numerous other torts and remedies. On May 3, 2023, three months before the Original Adversary Proceeding was separated into the Seven Adversary Proceedings, and unbeknownst to the court or creditors/trust beneficiaries, the Liquidating Trustee entered into a "Master Prepaid Forward Purchase Agreement by and Between Litchfield Ventures, LLC and Fresh Acquisitions Liquidating Trust, which was then amended on October 9, 2024 (collectively, the "Litigation Funding Agreement"). Nothing was filed on the docket to disclose this, nor did Gonzales disclose to the trust beneficiaries at any time prior to entering into the Litigation Funding Agreement that he would be doing so. The latest report filed by the Liquidating Trustee shows the following pertinent information: (a) Liquidating Trustee's counsel has been paid $2,215,908.49 for postconfirmation fees and expenses (but it has billed/incurred a total of $4,342,186.58; thus, Dickinson Wright PLLC is owed $2,126,278.09 currently -- and the Seven Adversary Proceedings are nowhere close to going to jury trial); (b) the Liquidating Trustee's financial advisory firm Caliber, of which the Liquidating Trustee is the only employee, has been paid $371,737.80 for postconfirmation fees and expenses (it has billed $380,212.80)-- and this is in addition to the Liquidating Trustee's individual $10,000 flat monthly fee, for which he has been paid $330,000 (thus, a total of $701,737 paid to the Liquidating Trustee and his one-man firm); (c) other professionals (tax accountant and a firm handling a contract matter of some sort) have cumulatively been paid $13,214). Roughly $3 million paid (with at least $2,126,278.09 unpaid). The fees and expenses have been funded mostly from the Litigation Funding since the Liquidating Trust was seeded with only $345,000 cash and has only received a few hundred thousand dollars in settlements. The Liquidating Trustee testified at the Show Cause Hearing on July 30, 2025, that he has served as a trustee in bankruptcy approximately a half-dozen times (although he has years of collection experience as a banker). He represented that he believed, based on advice of counsel, that he had no obligation to disclose the Litigation Funding Agreement and no need to obtain court approval. He also testified that he never even considered entering into any litigation funding until around December 2022 or January 2023 (more than a year after confirmation) when the defendants in the Original Adversary Proceeding started putting up strong resistance. He believes that the Litigation Funding Agreement presents market-based terms. He did not anticipate that the litigation costs, post-confirmation, would ever grow as large as they have -- which happened because of the allegedly unanticipated resistance from the defendants in the Seven Adversary Proceedings. The Court concludes that the Liquidating Trustee acted improperly by entering into the Litigation Funding Agreement without there being a disclosure of it as a possible means to fund post-confirmation litigation, as required by Bankruptcy Code section 1125. The Court finds: -- The Liquidating Trust Agreement did not grant the Liquidating Trustee authority to borrow funds post-confirmation or undertake litigation funding. -- As a result of this lack of disclosure and lack of authority, the Liquidating Trust has no contractual liability to the litigation funder. -- Even if the Liquidating Trust Agreement did grant broad enough authority to the Liquidating Trustee to enter into a litigation funding agreement, the Liquidating Trustee did not exercise reasonable business judgment or act as a prudent fiduciary in this case, given the exorbitantly expensive terms of the litigation funding. -- The Liquidating Trustee's entry into the litigation funding agreement was an abuse of discretion, harmful to the creditors/trust beneficiaries, not permitted under the terms of the Confirmation Order, the Disclosure Statement, the Plan, or the Liquidating Trust Agreement, and constituted an abuse of the bankruptcy process." In order to enforce its prior orders and to prevent an abuse of process, a new liquidating trustee must be promptly appointed in substitution of the current Liquidating Trustee. The following parties must engage in an expanded global mediation as soon as practicable: -- the new replacement liquidating trustee; -- the defendants in the Seven Adversary Proceedings; -- the current Liquidating Trustee, David Gonzales, and his professionals including Caliber and Dickinson Wright PLLC (who may all be subject to disgorgement of fees); and -- Litchfield, the litigation funder. A copy of the Court's Memorandum Opinion and Order dated August 4, 2025, is available at https://urlcurt.com/u?l=wRmFKp from PacerMonitor.com. * * * Mr. Gonzalez has taken an appeal from the Court's decision. In the meantime, Mr. Gonzalez asked the Court for a stay pending his appeal. "[I]f the Court's Order removing the trustee is not stayed, it will be no simple matter for the successor trustee and his counsel to get up to speed," Mr. Gonzalez contends. "There is a substantial risk that no competent successor trustee will voluntarily accept the responsibility of stepping into the Trustee's shoes. Even if one did, it would require the rest of this calendar year, at a minimum, to engage counsel and get up to speed. Nor is there money in the Liquidating Trust to pay a prospective successor trustee or its counsel. The Adversary Defendants are not stupid -- they will undoubtedly continue to resist the successor trustee's every move, as they have done to date. Surely they will demand to take the cases to trial, and if unsuccessful, appeal to the District Court then the Fifth Circuit Court of Appeals. Any successor trustee will be faced with the Hobson’s choice of carrying these cases for years without payment, or reaching a quick and inexpensive settlement. In either scenario, the unsecured creditors will suffer great harm." "In contrast, the Adversary Defendants will not be harmed if a stay is granted. They will not lose any rights or be required to expend any resources in the interim. Nor is there any other party who will be harmed by a stay, which will merely maintain the status quo until the Trustee's appeal is resolved." About Fresh Acquisitions San Antonio, Texas-based Fresh Acquisitions LLC and Buffets, LLC, operated independent restaurant brands. Prior to the COVID-19 pandemic, the Debtors were a significant operator of buffet-style restaurants in the United States with approximately 90 stores operating in 27 states. The Debtors' concepts include six buffet restaurant chains and a full service steakhouse, operating under the names Furr's Fresh Buffet, Old Country Buffet, Country Buffet, HomeTown Buffet, Ryan's, Fire Mountain, and Tahoe Joe's Famous Steakhouse, respectively. Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008 and won confirmation of a reorganization plan in April 2009. In January 2012, Buffets again sought Chapter 11 protection and emerged from bankruptcy in July 2012. On Aug. 19, 2015, Alamo Ovation, LLC, acquired Buffets Restaurants Holdings, Inc., and as a result of the merger, Buffets operated over 300 restaurants in 35 states. Down to 150 restaurants in 25 states after closing unprofitable locations, Buffets LLC and its affiliated entities sought Chapter 11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in San Antonio, Texas, on March 7, 2016. On April 27, 2017, the Court confirmed the Debtors' Second Amended Joint Plan of Reorganization. The Effective Date of the Plan was May 18, 2017. Fresh Acquisitions, LLC and 14 affiliates, including Buffets LLC (a/k/a Ovation Brands), sought Chapter 11 protection (Bankr. N.D. Tex. Lead Case No. 21-30721) on April 20, 2021. Fresh Acquisitions was estimated to have $1 million to $10 million in assets and $10 million to $50 million in liabilities. The Hon. Harlin Dewayne Hale is the case judge. In the recent cases, the Debtors tapped GRAY REED as counsel; and B. RILEY ADVISORY SERVICES as financial advisor. KATTEN MUCHIN ROSENMAN LLP is special counsel. BMC GROUP, INC., is the claims and noticing agent. HILCO REAL ESTATE, LLC, is the real estate consultant. David Gonzales was appointed as Trustee of the Fresh Acquisitions Liquidating Trust, established under the Debtors' confirmed bankruptcy-exit Plan. Litchfield Ventures, LLC, an affiliate of Chicago-based GLS Capital, LLC, provided litigation funding to the Trustee. Litchfield is represented by Jeff Prostok and Suzanne K. Rosen of VARTABEDIAN, HESTER & HAYNES, LLP, Dayspring Operating Co., LLC is represented by Jerry C. Alexander and D. Hunter Polvi at PASSMAN & JONES, P.C. Larry Harris, Rachel Harris, Mortin Cortes, Allen Jones, Jason Kemp, Alamo Furr's, LLC, TXFMP Management, LLC, VitaNova Brands, LLC, and Alamo Dynamic, LLC (d/b/a Dynamic Foods) are represented by Jillian J. Keith of JILLIAN KEITH ADR, PLLC; and D. Craig Brinker of WILSON ELSER MOSKOWITZ EDELMAN & DICKER LLP. AB Real Estate, LLC, is represented by Craig F. Simon, Paula Reichenstein and Cari LaSala of MEADOWS, COLLIER, REED, COUSINS, CROUCH & UNGERMAN, LLP. These entities are defendants in clawback lawsuits filed by the Trustee. The Plan Trustee is represented by Carolyn J. Johnsen and Trent P. Cornell of DICKINSON WRIGHT PLLC. GALLERY 515: Enters Receivership After Defaulting Loan ------------------------------------------------------ Nathan Rubbelke of St. Louis Business Journal reports that Gallery 515, a 20-story apartment building in downtown St. Louis, is facing receivership after its owner defaulted on the property's loan, marking another setback for the district's troubled real estate market. Owner Brian Hayden attributes the financial troubles to challenges in the downtown market. Amid increasing vacancies and local economic pressures, the owner has agreed to transfer control of the building to a court-appointed receiver, the report states. About Gallery 515 Gallery 515 offers high-rise luxury apartments in the Heart of Downtown St. Louis. GENESIS HEALTHCARE: Hires Jefferies LLC as Investment Banker ------------------------------------------------------------ Genesis Healthcare Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Jefferies LLC as investment banker. The firm will render these services: (a) Restructuring. Jefferies will provide advice and assistance to the Company in connection with analyzing, structuring, negotiating and effecting (including providing valuation analyses as appropriate), 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 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"). (b) M&A Transaction. During the term of the Engagement Agreement, 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, whether directly or indirectly and through any form of transaction, including, without limitation, merger, reverse merger, liquidation, tender or exchange offer, stock sale, asset sale, asset swap, recapitalization, reorganization, consolidation, amalgamation, spin-off, splitoff, joint venture, strategic partnership, license, a sale under section 363 of the Bankruptcy Code or other transaction (any of the foregoing, an "M&A Transaction"). Notwithstanding the foregoing, any sale under section 363 of the Bankruptcy Code pursuant to a "credit bid" (a "Credit Bid") shall be deemed and treated as a Restructuring and not an M&A Transaction. (c) Financing. Jefferies will act as sole and exclusive investment banker in connection with any of the following (each, a "Financing", and a Financing, a Restructuring and an M&A Transaction, each and together, a "Transaction"): (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 Agreement. Jefferies and the Debtors have agreed on the following terms of compensation and expense reimbursement: (a) Monthly Fee. A monthly fee (the "Monthly Fee") equal to $100,000 per month until the termination of the Engagement Agreement; provided, if the Company becomes subject to any cases under the Bankruptcy Code, the amount of the Monthly Fee shall increase to $150,000 starting with the first Monthly Fee payable after the commencement of any such cases. The first Monthly Fee shall be payable as of the date of the Engagement Agreement and each subsequent Monthly Fee shall be payable on each monthly anniversary thereafter. Following the receipt by Jefferies of four full Monthly Fees under the Engagement Agreement, an amount equal to 50 percent of the Monthly Fees actually paid to Jefferies thereafter shall be credited once, without duplication, against any Restructuring Fee or M&A Transaction Fee that subsequently becomes payable to Jefferies under the Engagement Agreement. (b) Restructuring Fee. Promptly upon the consummation of a Restructuring (including, for the avoidance of doubt, a Credit Bid), a fee (a "Restructuring Fee") in an amount equal to $5,000,000. (c) M&A Transaction Fee. Upon the consummation of an M&A Transaction involving all or substantially all of the equity or assets of the Company as of the consummation of such M&A Transaction (other than, for the avoidance of doubt, a Credit Bid), a fee (an "M&A Transaction Fee") equal to the greater of (A) $5,500,000 and (B) an amount equal to 1.35 percent of the Transaction Value of such M&A Transaction. Upon the consummation of an M&A Transaction not covered by subsection 4(c) of the Engagement Agreement (other than, for the avoidance of doubt, a Credit Bid), a fee (a "Minority M&A Transaction Fee") equal to the greater of (A) $1,250,000 and (B) an amount equal to 1.75 percent of Transaction Value of such M&A Transaction; provided that, to the extent (i) an M&A Transaction solely involves the sale or other disposition of a joint venture interest owned by the Company to an existing joint venture partner who has consent rights with respect to such joint venture interest (a "JV Transaction") and (ii) Jefferies was not asked to run or did not run any sale or marketing process involving such JV Transaction, then no Minority M&A Transaction Fee shall be payable on account of such JV Transaction. Additionally, 25 percent of Minority M&A Transaction Fees in the aggregate in excess of $1,250,000 actually paid to Jefferies shall be credited once, without duplication against Restructuring Fee subsequently payable to Jefferies under the Engagement Agreement. (d) 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: i. 1.0 percent of the maximum principal amount of commitments under any "debtor-in-possession" financing consummated during one or more cases under the Bankruptcy Code (a "DIP Financing"); ii. 2.0 percent of the maximum principal amount of commitments under any secured Bank Debt or secured Debt Securities of any Financing other than a DIP Financing; iii. 3.0 percent of the maximum principal amount of commitments under any Bank Debt or Debt Securities of any Financing not covered by subsections (g)(i) or (ii) of the Engagement Agreement; and iv. 4.0 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; provided that (A) to the extent a portion of any Financing under subsections (g)(ii), (iii) or (iv) of the Engagement Agreement is provided by equity holders, affiliates or management of the Company (including affiliates of the foregoing parties), in any case, existing as of the date of the Engagement Agreement, or ReGen Healthcare, LLC (including its affiliates as of the date of the Engagement Agreement) (collectively, the "Excluded Parties"), no Financing Fee shall be payable to Jefferies on account of such portion and (B) to the extent any portion of a DIP Financing is provided by the Excluded Parties, White Oak Healthcare Financing, LLC, Omega Healthcare Investors, Inc., Welltower Inc., WAX Dynasty Partners LLC, or MAO 22322 LLC (including affiliates of the foregoing parties, in each case, existing as of the date of the Engagement Agreement), 100 percent of the Financing Fee paid to Jefferies on account of such portion shall be credited once, without duplication, against any Restructuring Fee or M&A Transaction Fee subsequently payable to Jefferies under the Engagement Agreement. Additionally, notwithstanding anything to the contrary in the Engagement Agreement, no Financing Fee shall be payable to Jefferies for any "exit financing" under subsections (g)(ii), (iii) or (iv) of the Engagement Agreement unless (1) Jefferies is asked to run a process for or otherwise marketed such Financing at the request of the Company and Jefferies runs such process and/or markets such Financing or (B) the Financing involves a counterparty first introduced to the Company by Jefferies (and not previously approached by the Company), whether or not Jefferies ran a process for, or otherwise marketed, such Financing. Finally, for the avoidance of doubt, no Financing Fee shall be payable to Jefferies on account of the distribution of notes, securities or other indebtedness on account of existing debt or claims pursuant to a plan under the Bankruptcy Code. (e) Expenses. In addition to any fees that may be paid to Jefferies under the Engagement Agreement, 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 the fees and expenses of any other independent experts retained by Jefferies after approval by the Debtors) incurred by Jefferies and its designated affiliates in connection with the engagement contemplated under the Engagement Agreement. Jeffrey Finger, 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: Jeffrey Finger Jefferies LLC 520 Madison Avenue New York, NY 10022 Telephone: (212) 284-2300 About Genesis Healthcare Inc. Genesis Healthcare Inc. is a Medical Group, based in Culver City, CA. The medical group, which has also operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare, provides physician services in Southern California. Genesis Healthcare Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case 25-80185) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Marcus Alan Helt, Esq. at Mcdermott Will & Emery LLP. GENESIS HEALTHCARE: Taps Ankura Consulting as Restructuring Advisor ------------------------------------------------------------------- Genesis Healthcare Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Ankura Consulting Group, LLC, as restructuring advisors, and designate Louis E. Robichaux IV and Russell A. Perry as co-chief restructuring officers. The firm will render these services: (a) advise and assist the Debtors and its other advisors in connection with the Debtors' identification, evaluation, development, and implementation of restructuring strategies and tactics; (b) perform general due diligence on the Debtors in order to gain an understanding of the Debtors' capital structure, contractual commitments and current situation; (c) review the Debtors' existing cash flow forecasts, and to the extent necessary, assist management in updating or refining cash flow forecasting models and methodologies, including reviewing any liquidity improvement plans; (d) assist the Debtors in managing liquidity, including the monitoring of actual cash flow versus projections and evaluating liquidity under a variety of operating and restructuring scenarios; (e) advise and assist the Debtors with developing strategic business plans including, if necessary, assistance with development of multi-year financial projection scenarios and related debt service capacity models; (f) advise and assist the Debtors with communications and negotiations with its stakeholders, including, but not limited to, landlords, secured creditors, unsecured creditors, customers, suppliers, and other parties in interest; (g) advise and assist management regarding responding to the information requests from the Debtors stakeholders and potential capital sources; (h) direct and oversee Ankura's provision of restructuring-related services and administration of the Chapter 11 Cases; (i) assist the Debtors and its other retained professionals in preparing for a filing under chapter 11 of the Bankruptcy Code, including all support necessary related to petitions, first day motions and other filings; (j) assist the Debtors and its other retained professionals in securing financing necessary to administer the case, including supporting the Debtors' development of a budget satisfactory to a debtor-in-possession ("DIP") lender and negotiation of a DIP credit facility, interim and final DIP orders and/or cash collateral orders; (k) assist in the formulation, development, negotiation and approval of any Disclosure Statement and Chapter 11 Plan filed in the Chapter 11 Cases; (l) assist the Company with respect to bankruptcy-related claims estimation management and reconciliation processes; (m) engage with the Debtors' creditors, any official committee appointed in the Chapter 11 Cases, and any other constituencies in the case and assist in the preparation of reports to and negotiations with such constituencies; (n) assist the Debtors in preparing reporting required during the Bankruptcy restructuring process including, but not limited to, Monthly Operating Reports, creditor matrices, Statements of Financial Affairs, and Schedules of Assets and Liabilities; and (o) perform other professional services as requested by the Debtors that are directly related to the Debtors' preparation for entrance into or administration of a bankruptcy restructuring proceeding. Ankura's current standard U.S. hourly rates are: Senior Managing Director $1,300 to $1,455 Managing Director $1,075 to $1,205 Director/Senior Director $740 to $1,020 Associate/Senior Associate $495 to $680 Paraprofessionals $380 to $440 Russell Perry, a senior managing director at Ankura Consulting Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Russell A. Perry, CFA Ankura Consulting Group, LLC 2021 McKinney Avenue, Suite 340 Dallas, TX 75201 Direct: (214) 200-3699 Mobile: (817) 797-3943 About Genesis Healthcare Inc. Genesis Healthcare Inc. is a Medical Group, based in Culver City, CA. The medical group, which has also operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare, provides physician services in Southern California. Genesis Healthcare Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case 25-80185) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Marcus Alan Helt, Esq. at Mcdermott Will & Emery LLP. GENESIS HEALTHCARE: Taps Katten Muchin Rosenman as Special Counsel ------------------------------------------------------------------ Genesis Healthcare Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Katten Muchin Rosenman LLP as special counsel at the sole direction of Jonathan Foster and Elizabeth LaPuma in their capacity as independent directors and members of the special investigation committee. Prior to the Petition Date, Katten provided various legal services relating to Mr. Foster and Ms. LaPuma's duties as independent consultants and, upon their appointment to the Board, as Independent Directors and members of the Special Investigation Committee. In their capacity as the members of the Special Investigation Committee, the Independent Directors, with the assistance of Katten, are continuing to conduct the Investigation into whether the Debtors hold Potential Claims against Related Parties. Katten will charge the following hourly rates: Partner $1,205 to $2,380 Of Counsel $1,110 to $2,100 Counsel and Special Staff $610 to $1,615 Associate $715 to $1,210 Paralegal $230 to $860 Katten received a total of $2,950,000 in advance fee deposits from the Debtors. 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 Genesis at the sole direction of the Independent Directors 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 Genesis on behalf of and at the sole direction of the Independent Directors, as of March 28, 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 Independent Directors, has developed a budget and staffing plan for these Chapter 11 Cases for the period from the Petition Date through and including November 30, 2025. Steven J. Reisman, 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 Genesis Healthcare Inc. Genesis Healthcare Inc. is a Medical Group, based in Culver City, CA. The medical group, which has also operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare, provides physician services in Southern California. Genesis Healthcare Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case 25-80185) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Marcus Alan Helt, Esq. at Mcdermott Will & Emery LLP. GENESIS HEALTHCARE: Taps McDermott Will & Emery as Legal Counsel ---------------------------------------------------------------- Genesis Healthcare Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire McDermott Will & Emery LLP as counsel. The firm's services include: a. advising the Debtors with respect to their powers and duties as debtors-in-possession in the continued management and operation of their business and properties; b. advising and consulting on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c. attending meetings and negotiating with representatives of the Debtors' creditors, equity holders, and other parties-in-interest; d. taking all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any action commenced against the Debtors, and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including objections to claims filed against the Debtors' estates; e. preparing pleadings in connection with the Chapter 11 Cases, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtors' estates; f. advising the Debtors in connection with any potential sale of assets or transfer of operations; g. appearing before the Court and any appellate courts to represent the interests of the Debtors' estates; h. advising the Debtors regarding tax matters; i. assisting the Debtors in reviewing, assessing, estimating, and resolving claims asserted against the Debtors' estates; j. advising the Debtors regarding insurance and regulatory matters; k. commencing and conducting litigation necessary and appropriate to assert rights held by the Debtors, protect assets of the Debtors' chapter 11 estates, or otherwise further the goals of the Debtors in these Chapter 11 Cases; l. taking any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a chapter 11 plan and all documents related thereto, including the review and analysis of potential claims and causes of action that may be released under such a plan; and m. performing all other necessary legal services for the Debtors in connection with the prosecution of the Chapter 11 Cases, including: (i) analyzing the Debtors' leases and contracts and the potential assumption and assignment or rejection thereof; (ii) analyzing the validity of liens asserted against the Debtors; and (iii) advising the Debtors on corporate and litigation matters. McDermott's current hourly rates are: Partners $1,500 to $2,195 Associates $805 to $1,485 Paraprofessionals $395 to $820 In addition, the firm will seek reimbursement for expenses incurred. The firm received an advance payment retainer of $5,211,893 from the Debtor. The following is provided in response to the request for additional information set forth in Section D.1 of the Large Case Guidelines. (a) Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: McDermott did not agree to any variations from, or alternatives to, its standard or customary billing arrangements for this engagement. (b) Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No rate for any of the professionals included in this engagement varies based on the geographic location of the Chapter 11 Cases. (c) 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: McDermott's current hourly rates for matters related to these Chapter 11 Cases are on the same terms as McDermott's representation prior to the Petition Date and are as follows: Billing Category U.S. Range Partners $1,500 to $2,195 Associates $805 to $,485 Paraprofessionals $395 to $820 (d) Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: Yes, the Interim DIP Order contemplates that professionals proposed to be retained by the Debtors will provide regular estimates of fees and expenses incurred in these Chapter 11 Cases. Daniel Simon, Esq., a partner at McDermott Will & Emery, 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 M. Simon, Esq. Emily C. Keil, Esq. William A. Guerrieri, Esq. Catherine T. Lee, Esq. Landon W. Foody, Esq. 444 West Lake Street, Suite 4000 Chicago, IL 60606 Telephone: (312) 372-2000 Facsimile: (312) 984-7700 Email: dsimon@mwe.com ekeil@mwe.com wguerrieri@mwe.com clee@mwe.com lfoody@mwe.com 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. GWA LLC: Hires Morgan Lewis & Bockius as Special Tax Counsel ------------------------------------------------------------ GWA, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Morgan, Lewis & Bockius LLP as special tax counsel. The firm's services include: a. representing GWA in the Tax Court Action; b. prosecuting the appeal of the Tax Court's opinion to the United States Court of Appeals for the Second Circuit; and c. providing additional legal services in connection with the Tax Court Action, the appeal of the Tax Court's opinion, and GWA's federal income tax reporting. There are no arrangements to compensate Morgan Lewis for the services to be provided. Sheri Dillon, Esq., at Morgan, Lewis & Bockius, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheri A. Dillon, Esq. Morgan, Lewis & Bockius LLP 1111 Pennsylvania Avenue, NW Washington, DC 20004-2541 Telephone: (202) 739-5749 Facsimile: (202) 739-3001 Email: sheri.dillon@morganlewis.com About Weiss Multi-Strategy Advisers LLC Weiss Multi-Strategy Advisers LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-10743) on Apr. 29, 2024. In the petition signed by George Weiss, manager, the Debtor disclosed $10 million to $50 million in assets and $100 million to $500 million in liabilities. Judge Martin Glenn oversees the case. The Debtor tapped Tracy L. Klestadt, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP as counsel and Omni Agent Solutions, Inc. as claims and noticing agent. GYLMAR DEVELOPMENTS: Files Emergency Bid to Use Cash Collateral --------------------------------------------------------------- Gylmar Developments, Inc. asked the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, for authority to use cash collateral and provide adequate protection. The Debtor intends to use funds encumbered by secured loans from SouthState Bank and the Small Business Administration to sustain its ongoing business operations and support a reorganization plan. The Debtor, a food manufacturing facility in Doral, Florida, which supports its affiliate, I-M Lean, LLC—a producer of vegan food products under the "Chef Cristy" brand sold in multiple states, including through Whole Foods. Financial hardship during the COVID-19 pandemic, coupled with the cancellation of an approved SBA loan and an ongoing foreclosure judgment for over $743,000 in favor of SouthState Bank, has left the Debtor in urgent need of liquidity. To fund operations and support a forthcoming Chapter 11 plan, the Debtor sought court permission to use proceeds from accounts receivable, inventory, and rents—assets subject to liens by both SouthState Bank and the Small Business Administration. SouthState's lien, originating from a 2017 loan secured by a mortgage and UCC-1 filing, is senior to the SBA's, which stems from a 2020 Economic Injury Disaster Loan. The Debtor proposed to use this cash collateral in accordance with a budget, requesting the ability to exceed individual line items by up to 15% and, collectively, by up to 10%. As adequate protection, the Debtor offers monthly payments of $2,307 to SouthState, based on 4% of the property's appraised value, while proposing no payment to the SBA due to the likely reclassification of its claim as unsecured. About Gylmar Developments Inc. Gylmar Developments, Inc. is a Miami-based corporation headquartered at 8485 NW 54th Street. Gylmar Developments sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18606) on July 2, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Robert A. Mark handles the case. Michael S. Hoffman, Esq., is the Debtor's legal counsel. SouthState Bank, as secured creditor, is represented by: Eric S. Golden, Esq. Burr & Forman, LLP 200 S. Orange Avenue, Suite 800 Orlando, FL 32801 Phone: (407) 540-6600 Fax: (407) 540-6601 egolden@burr.com mlucca-cruz@burr.com GYLMAR DEVELOPMENTS: Hires Lessne Hoffman as Bankruptcy Counsel --------------------------------------------------------------- Gylmar Developments Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Lessne Hoffman, PLLC as its general bankruptcy counsel. The firm will advise the Debtor on compliance with the Bankruptcy Code and United States Trustee Guidelines, prepare necessary pleadings and motions, represent the Debtor in negotiations with creditors, and assist in the proposal and confirmation of a Chapter 11 plan. The firm is holding a retainer of $24,250 in its trust account for this matter. Michael Hoffman, Esq., an attorney at Lesne Hoffman, 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 S. Hoffman, Esq. Lessne Hoffman, PLLC 100 SE 3rd Ave., 10th Floor Fort Lauderdale, FL 33394 Telephone: (954) 372-5759 Email: mhoffman@lessnehoffman.law About Gylmar Developments Inc. Gylmar Developments Inc. is a Miami-based corporation headquartered at 8485 NW 54th Street. Gylmar Developments Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18606) on July 2, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor is represented by Michael S. Hoffman, Esq. HIDDEN PATH: Seeks to Hire Barron & Newburger as Legal Counsel -------------------------------------------------------------- Hidden Path RV Resort, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Barron & Newburger, P.C. as attorneys. The firm will provide these services: (a) advise the Debtor of its rights, powers, and duties in the continued management of its assets; (b) review the nature and validity of claims asserted against the property of Debtor and advise it concerning the enforceability of such claims; (c) prepare on behalf of Debtor, all necessary and appropriate legal documents and review all financial and other reports to be filed in the Chapter 11 case; (d) advise the Debtor concerning and prepare responses to, applications, motions, complaints, pleadings, notices, and other papers which may be filed in the Chapter 11 case; (e) counsel the Debtor in connection with the formulation, negotiation, and promulgation of a plan of reorganization and related documents; (f) perform all other legal services for and on behalf of the Debtor which may be necessary and appropriate in the administration of the Chapter 11 case and its business; and (g) work with professionals retained by other parties in interest in this case to attempt to obtain approval of a consensual plan of reorganization for the Debtor. The firm will be paid at these hourly rates: Stephen Sather $650 Attorneys $250 to $650 Support Staff $40 to $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $15,000. Mr. Sather 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: Stephen Sather, Esq. Barron & Newburger, P.C. 7320 N. MoPac Expwy., Suite 400 Telephone: (512) 476-9103 Facsimile: (512) 476-9253 About Hidden Path RV Resort, LLC Hidden Path RV Resort, LLC operates a recreational vehicle park in Lockhart, Texas. The Company owns and manages multiple real estate assets, including its main RV resort property and several rental properties. It also holds a range of heavy equipment used for property maintenance and operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10997) on June 30, 2025. In the petition signed by Roy D. Stephens Jr., authorized agent, the Debtor disclosed $4,913,011 in assets and $3,551,643 in liabilities. Judge Shad Robinson oversees the case. Stephen W Sather, Esq. at BARRON & NEWBURGER, P.C. represents the Debtor as legal counsel. HOLLOWELL VENTURES: Lender Seeks to Prohibit Cash Collateral Access ------------------------------------------------------------------- Arvest Bank asked the U.S. Bankruptcy Court for the Western District of Arkansas, Fayetteville Division, to prohibit Hollowell Ventures, LLC from using cash collateral. The request arises from the Debtor's Chapter 11 bankruptcy filing and relates to two loans totaling $2.34 million as of March, both of which are in default. Arvest is a secured creditor with mortgages and assignments of rents and leases on multiple properties in Missouri and Arkansas. The bank argued that under 11 U.S.C. section363, Hollowell may not use the proceeds, rents, or profits from the secured properties without either the bank's consent or court authorization. Arvest said it has received no post-petition payments and has not authorized the use of its collateral. Arvest further argued that it is entitled to adequate protection of its interests and asked the court to prohibit Hollowell's use of the collateral unless such protection is provided. The bank also requested that the court order Hollowell to segregate all rental income, particularly from short-term rental properties, and provide detailed monthly reports of rent receipts and any cash collateral in its possession since the bankruptcy filing. About Hollowell Ventures LLC Hollowell Ventures, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ark. Case No. 5:25-bk-71311) on July 31, 2025. In the petition signed by Tim Hollowell, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Bianca M. Rucker oversees the case. Stanley V. Bond, Esq., at Bond Law Office, represents the Debtor as legal counsel. Arvest Bank, as lender, is represented by: Jay B. Williams, Esq. Williams Law Firm of Arkansas 100 W. Main Gentry, AR 72734 Tel: (479) 736-8800 Fax: 736-3170 jay@williamslawfirm.net HOWARD UNIVERSITY: Moody's Alters Outlook on 'Ba1' Issuer to Stable ------------------------------------------------------------------- Moody's Ratings has revised the Howard University, DC outlook to stable from positive. At the same time Moody's have affirmed the Ba1 issuer rating and Ba1 rating on approximately $49 million of Revenue Bonds (The Howard University Issue), Series 2011B (Taxable). The university had roughly $924 million of total debt as of June 30, 2024. The revision of the outlook to stable from positive incorporates the university's declining operating performance with deficit operations in fiscal 2024 as well as the changing federal landscape impacting student financial aid and research funding. The outlook change also reflects the end of the relationship and management services agreement with Adventist HealthCare in Howard University Hospital. The June 2025 announcement that a possible Adventist hospital acquisition was no longer being pursued will delay clarity around the capital planning and sources of funding for the hospital and its outpatient operations. RATINGS RATIONALE Affirmation of the Ba1 issuer rating acknowledges the university's enrollment management gains, with net tuition revenue up 15% in fiscal 2024, as well as federal operating support. Total cash and investments increased to $1.2 billion in fiscal 2024, as continued donor support and investment returns fueled gains. Credit quality is tempered by continued, but improving, challenging hospital operations in a competitive healthcare market. Deferred maintenance and high financial leverage also temper credit quality. In addition to its own debt, the university has relied on partnerships for capital projects tied to its strategy, adding complexity to its capital structure. Pro forma total adjusted debt inclusive of these arrangements is at 1.4x fiscal 2024 operating revenue. The Ba1 rating on the Series 2011B bonds is based on the issuer rating as well as the unsecured general obligation nature of the bonds. RATING OUTLOOK The stable outlook reflects prospects for gradually improving operating performance as management addresses the structural deficits at the hospital and broader university. The stable outlook is predicated on management's expense control efforts during fiscal year 2025 and that those efforts will result in at least 1.2x debt service coverage in the full year audited financial results. Effective enrollment management and ongoing student demand also support the stable outlook. The outlook also assumes incremental financial leverage from the hospital improvements will be moderate, especially if there is the absence of marked improvements in patient care operating performance. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Progress in achieving Howard University Hospital operating sustainability and capital needs funding -- Continued improvement in brand and strategic positioning, reflected in ability to meet enrollment, net tuition, and fundraising goals -- Evidence of sustained strengthening in operating performance and revenue growth following ending of pandemic relief funds -- Demonstrated ability to fund capital plan with reduced reliance on debt FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Continued weak operating performance with debt service coverage remaining under 1.2x, particularly if accompanied by a decline in liquidity -- Inability to find sustainable path for hospital operations -- Disruption in federal funding for operations -- Revenue softness in net student revenue, sponsored research or patient care revenue segments PROFILE Howard University is a private not-for-profit historically black college and university in Washington, D.C. with approximately 13,000 full-time equivalent students and $1.1 billion in operating revenue in fiscal year 2024. The university owns the Howard University Hospital where medical students do their internships, residencies, and/or fellowships and where members of its faculty practice provide clinical services. METHODOLOGY The principal methodology used in these ratings was Higher Education published in July 2024. HUNTINGTON GLEN: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Huntington Glen Swng TIC 1, LLC and Huntington Glen Swng TIC 2, LLC got the green light from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral to fund operations. The bankruptcy court authorized the Debtors' interim use of cash collateral pending entry of its final order. The final hearing will take place on September 11. The Debtors estimate that the cash expenses for the interim period will be approximately $175,980 and that cash receipts will be approximately $320,000. As adequate protection for any diminution in the value of its collateral, Fannie Mae will be granted replacement liens on all property of the Debtors whether acquired before or after their Chapter 11 filing, with the same validity, priority and extent as its pre-bankruptcy liens. The replacement liens do not apply to any causes of action and will be senior in priority of payment over any administrative expenses except statutory fees owed to the Office of the U.S. Trustee and, if the Debtors' cases are converted to Chapter 7, the costs and fees of a Chapter 7 trustee up to $10,000. In case the replacement liens prove inadequate, Fannie Mae will be granted a superpriority claim. As additional protection, on or before August 25 and the 10th day of each calendar month thereafter, each Debtor will remit to the secured lender a cash payment equal to the amount by which such Debtor's remaining cash balance at the end of the prior calendar month exceeded the following: $25,000 for each Debtor. The Debtors owe $37.1 million to Fannie Mae in connection with a pre-bankruptcy loan made by the secured lender. A copy of the interim order is available at https://is.gd/ZY8pua About Huntington Glen Swng TIC Huntington Glen Swng TIC 1, LLC and Huntington Glen Swng TIC 2, LLC own the Huntington Glen apartment complex, which is comprised of 364 residential housing units. The property is located at 12023 Bissonnet Street, Houston, Texas. The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42991) on June 25, 2025. In their petitions, both Debtors reported between $10 million and $50 million in assets and liabilities. Judge Elizabeth S. Stong handles the cases. Eric H. Horn, Esq., at A.Y. Strauss is the Debtor's legal counsel. Fannie Mae, as secured lender, is represented by: Alissa K. Piccione, Esq. Reed Smith, LLP 599 Lexington Avenue, 22nd Floor New York, NY 10022 (212) 521-5400 apiccione@reedsmith.com -- and -- Michael P. Cooley, Esq. Jay L. Krystinik, Esq. Reed Smith, LLP 2850 N. Harwood St., Ste. 1500 Dallas, TX 75201 (469) 680-4200 mpcooley@reedsmith.com jkrystinik@reedsmith.com HYPERSCALE DATA: Prelim Q2 Results Show $27M Cash, $214M Assets --------------------------------------------------------------- Hyperscale Data, Inc. (NYSE American: GPUS) announced in a press release its preliminary financial results for the quarter ended June 30, 2025, highlighting a cash position per share that exceeds the Company's current market capitalization. Preliminary Financial Highlights as of June 30, 2025: * Cash and cash equivalents and restricted cash totaled approximately $27 million; and * Total assets were approximately $214 million. "Our second-quarter results reflect continued execution and strong financial discipline. We have reduced debt by over $20 million year-to-date and are actively building a stronger and more focused asset base," said Milton "Todd" Ault III, Executive Chairman of Hyperscale Data. "We are seeking to establish Hyperscale Data as a differentiated platform at the intersection of artificial intelligence infrastructure and blockchain-based treasury innovation. We look forward to updating stockholders over the coming months about the expansion of our digital asset acquisition strategies." The Company expects to begin publishing monthly updates on its digital asset holdings starting in August 2025, with the first report to reflect initial $XRP positions added to the balance sheet. With increased liquidity and a $214 million asset base, Hyperscale Data is well-positioned to capitalize on growth opportunities in both AI infrastructure and blockchain technology. All financial figures are preliminary and unaudited. Final results will be included in the Company's Form 10-Q for the quarter ended June 30, 2025, expected to be filed with the SEC on or before the required deadline. About Hyperscale Data Headquartered in Las Vegas, NV, Hyperscale Data, Inc., formerly known as Ault Alliance, Inc., is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. New York, New York-based Marcum LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. ICON LLC: Seeks to Hire Morris Palerm LLC as Bankruptcy Counsel --------------------------------------------------------------- ICON LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Morris Palerm, LLC as attorneys. The firm's services include legal advice regarding the administration of the Debtor's Chapter 11 case, negotiating a consent plan for payment of the commercial lease arrears, and the filing of a plan of reorganization. Morris Palerm will bill $400 per hour for the services of Douglas N. Gottron, Esq., primary attorney, $250 per hour for associates and $150 per hour for legal assistants and paralegals. The firm received an initial retainer payment of $1,200; which sum is exclusive of the Chapter 11 filing fee ($1,738). Mr. Gottron disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Douglas N. Gottron, Esq. Morris Palerm, LLC 751 Rockville Pike, Suite 2A Rockville, MD 20852 Tel: (301) 424-6290 Fax: (301) 424-6294 Email: dgottron@morrispalerm.com About ICON LLC ICON LLC, operating as Vida Investments, is a Maryland-based food services company as indicated by its NAICS code 7223, which covers special food services including caterers, food service contractors, and mobile food vendors. ICON LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-16451) on July 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $50,000 and $100,000. The Debtors are represented by Douglas N. Gottron, Esq. at Morris Palerm, LLC. IPG FRANCHISING: Case Summary & 18 Unsecured Creditors ------------------------------------------------------ Debtor: IPG Franchising Inc. 800 Celebration Avenue Unit 202A Celebration, FL 34747 Business Description: IPG Franchising Inc. operates as a franchisor specializing in vacation rental property management. The Company offers turnkey franchise solutions that enable individuals to enter the U.S. vacation rental market, providing training, technology, and operational support primarily focused on the Central Florida region near major tourist destinations like Walt Disney World. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-05025 Debtor's Counsel: Chad Van Horn, Esq. VAN HORN LAW GROUP, P.A. 500 NE 4th Street, Suite 200 Fort Lauderdale, FL 33301 Tel: (954) 765-3166 E-mail: chad@cvhlawgroup.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jamie Greene as chief operating officer. A full-text copy of the petition, which includes a list of the Debtor's 18 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CIGRHTI/IPG_Franchising_Inc__flmbke-25-05025__0001.0.pdf?mcid=tGE4TAMA IXS HOLDINGS: S&P Rates New Amended $645MM First-Lien Term Loan --------------------------------------------------------------- S&P Global Ratings assigned its 'B-' issue-level rating and '3' recovery rating to U.S.-based vehicle customization services company IXS Holdings Inc.'s proposed amended and extended $645 million first-lien term loan due in September 2029. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a default. The company will use the proceeds to repay its existing term loan due in March 2027, pay down the asset-based lending (ABL) revolving facility balance of $26 million, and fund transaction fees. S&P said, "We view the transaction as modestly increasing leverage, but still expect it will remain in the low- to mid-5x range, with free operating cash flow to debt of 2%-3% over the next couple of years. Our 'B-' issuer credit rating and stable outlook on the company are unchanged." ISSUE RATINGS - RECOVERY ANALYSIS Key analytical factors -- S&P's simulated default scenario assumes a payment default in 2027 due to a sustained economic downturn that reduces consumer demand for new pickups or less-than-projected penetration for IXS' products, which it views as discretionary; intense margin pressure from a surge in commodity chemical prices; or the potential loss of one or more key customers that try a new technology or apply the spray bed coating internally. -- Other key default assumptions include SOFR of 2.5% and a standard 60% draw on the $140 million ABL revolver. Simulated default assumptions -- Simulated year of default: 2027 -- EBITDA at emergence: $83 million -- EBITDA enterprise value multiple at default: 5.5x Simplified waterfall -- Gross enterprise value: $455 million -- Net enterprise value after 5% administrative expenses: $432 million -- Obligor/nonobligor valuation split: 80%/20% -- Priority claims: $84 million -- Total collateral for secured debt: $318 million -- Total first-lien debt: $663 million --Recovery expectations: 50%-70% (rounded estimate: 50%) J4G LLC: Seeks to Hire Lane Law Firm as Legal Counsel ----------------------------------------------------- J4G, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Robert C. Lane of The Lane Law Firm, PLLC to serve as legal counsel in its Chapter 11 case. Mr. Lane will provide these services: (a) assist, advise and represent the Debtor relative to the administration of the Chapter 11 case; (b) assist, advise and represent the Debtor in analyzing its assets and liabilities, investigating liens and claims, and participating in any proposed asset sales or dispositions; (c) attend meetings and negotiate with secured creditors; (d) assist in the preparation, analysis, and negotiation of a plan of reorganization and accompanying disclosure statement; (e) take necessary action to protect and preserve the Debtor's interests; (f) appear in court proceedings to protect the Debtor's interests; and (g) perform all other necessary legal services in the case. The firm will be paid at these rates: Mr. Lane $650 per hour Zach Casas $575 per hour Kyle Garza and Grant Bullwinkel $450 per hour paralegals $250 per hour The Lane Law Firm, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Robert C. Lane, Esq. A. Zachary Casas, Esq. THE LANE LAW FIRM, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 E-mail: zach.casas@lanelaw.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 LLC 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 reports 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. JAL HOLDINGS: Unsecureds to Get Share of Income for 3 Years ----------------------------------------------------------- JAL Holdings, LLC, filed with the U.S. Bankruptcy Court for the District of Maryland a Chapter 11 Plan dated August 4, 2025. The Debtor was formed in 2023 to improve the living conditions of Baltimore's homeless population, with its main focus being homeless veterans. Larry Thomas, the Debtor's managing member, is 51 years old. The Debtor acquired a small portfolio of residential properties with intention of servicing the homeless and create value added living facilities and connect with other programs that would help integrate the homeless back into their communities. Due to the Debtor's financial circumstances, it entered into loan arrangements with a "hard money lender". The lender failed to reimburse JAL for construction costs, which caused both delays in completion and rental of units, severely affecting cash flow, which eventually resulted in the threatened sale at foreclosure auction of JAL's properties. It became apparent that the Debtor could not continue its operations without substantial loss. It accordingly consulted with Counsel to discuss the possibility of filing for relief under Chapter 11 of the Bankruptcy Code. Class C-1 consists of all allowed general unsecured claims against the Debtor. In accordance with the provisions of Section 1191(d) of the Bankruptcy Code, this class shall be paid, pro rata, all of the Debtor's Disposable Income in calendar years 2025, 2026, and 2027. Within thirty days after the filing of the annual income tax return of the Debtor, the Debtor shall file a Statement with the Court setting forth the Disposable Income of the Debtor for such calendar year. Such Disposable Income, if any, shall be paid pro rata, on all allowed general unsecured claims within thirty days after the filing of such Statement. The pro rata share of the claimed amount of any claims which are then subject to objections as to which a Final Order has not been entered shall be deposited in an interest-bearing bank account until a Final Order is entered. When Final Orders are entered disallowing or allowing and liquidating all Class C-1 claims, the remaining funds in the bank account shall be distributed to the holders of all Class C-1 claims pro rata. This class is impaired. Funds for implementation of the Plan will be derived from the Debtor's rental income, cash on hand, and, if proceeds from the sale or refinance of estate assets. A full-text copy of the Chapter 11 Plan dated August 4, 2025 is available at https://urlcurt.com/u?l=sAMqYu from PacerMonitor.com at no charge. Counsel to the Debtor: Brett Weiss, Esq. The Weiss Law Group, LLC 8843 Greenbelt Road, Box 299 Telephone: (301) 924-4400 Facsimile: (240) 627-4186 Email: brett@BankruptcyLawMaryland.com About JAL Holdings, LLC JAL Holdings, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-14107) on May 6, 2025, with $500,001 to $1 million in both assets and liabilities. Judge Michelle M. Harner presides over the case. Brett Weiss, Esq., at The Weiss Law Group, LLC, is the Debtor's bankruptcy counsel. JBSB DESTINY: Unsecured Creditors Will Get 39.34% over 5 Years -------------------------------------------------------------- JBSB Destiny Enterprises Co. filed with the U.S. Bankruptcy Court for the Southern District of Texas a Plan of Reorganization dated August 4, 2025. JBSB Destiny Enterprises Co. started operations in 2022. Debtor's operations are a licensed massage and facial therapy business. The Debtor elected to file a chapter 11 reorganization as the best means to resolve the current liabilities of the company and determine the secured portions of those creditors. The Debtor proposes to pay allowed unsecured based on the liquidation analysis and cash available. Debtor anticipates having enough business and cash available to fund the plan and pay the creditors pursuant to the proposed plan. It is anticipated that after confirmation, the Debtor will continue in business. Based upon the projections, the Debtor believes it can service the debt to the creditors. The Debtor will continue operating its business. The Debtor's Plan will break the existing claims into five classes of Claimants. These claimants will receive cash repayments over a period of time beginning on or after the Effective Date. Class 4 consists of Allowed Unsecured Claims. All allowed unsecured creditors shall receive a pro rata distribution at zero percent per annum over the next five years according to the projections. Creditors shall receive monthly disbursements based on the projection distributions of each 12-month period. Debtor will distribute $365,500.00 to the general allowed unsecured creditor pool over the 5-year term of the plan, including the under-secured claim portions. The Debtor's General Allowed Unsecured Claimants will receive 39.34% of their allowed claims under this plan. Any potential rejection damage claims from executory contracts that are rejected in this Plan will be added to the Class 4 unsecured creditor pool and will be paid on a pro-rata basis. The allowed unsecured claims total $929,090.24. This Class is impaired. Class 5 Equity Interest Holders (Current Owners). The current owners will receive no payments under the Plan; however, they will be allowed to retain ownership in the Debtor. Class 5 Claimants are not impaired under the Plan. The Debtor anticipates the continued operations of the business to fund the Plan. A full-text copy of the Plan of Reorganization dated August 4, 2025 is available at https://urlcurt.com/u?l=wRkLHS from PacerMonitor.com at no charge. Counsel to the Debtor: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Tel: (713) 595-8200 Fax: (713) 595-8201 Email: notifications@lanelaw.com About JBSB Destiny Enterprises Co. JBSB Destiny Enterprises Co. operates a Massage Heights franchise that offers licensed massage therapy and facial services. JBSB Destiny Enterprises Co. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-32566) on May 6, 2025. In its petition, the Debtor reported total assets of $50,006 and total debts of $1,056,900. Judge Jeffrey P. Norman handles the case. The Debtor is represented by Robert C. Lane, Esq. at The Lane Law Firm. JD HUNT: Hires Hayward PLLC as General Bankruptcy Counsel --------------------------------------------------------- JD Hunt Custom Homes Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire Hayward PLLC as general Bankruptcy counsel. The firm's services include: a. give the Debtor legal advice with respect to its powers and duties as Debtor as Debtor-in-Possession in the continued operation of its business and management of its property; b. advise the Debtor of its responsibilities under the Bankruptcy Code and assist with such; c. prepare and file Voluntary Petition, DIP Loan Financing, and other paperwork necessary to commence this proceeding; d. assist in preparing and filing the required Schedules, Statement of Affairs, Monthly Financial Reports, and any amendments thereto; e. assist in preparing the Initial Debtor's Report and other documents required by the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Rules of this Court and the administrative procedures of the Office of the United States Trustee; f. represent the Debtor in connection with adversary proceedings and other contested and uncontested matters, both in this Court and in other courts of competent jurisdiction, concerning any and all matters related to these bankruptcy proceedings and the financial affairs of the Debtor; g. represent the Debtor in the negotiation and documentation of any sales or refinancing of property of the Chapter 11 Case, and in obtaining the necessary approvals of such sales or refinancing by this Court; and h. assist the Debtor in the formulation of, among other things, a plan of reorganization and disclosure statement, and in taking the necessary steps in this Court to obtain approval of such disclosure statement and confirmation of such plan of reorganization. The firm will be paid at these rates: Todd Headden $425 per hour Charlie Shelton $500 per hour Other attorneys and clerks $150 to $600 per hour Paralegals $150 to $215 per hour Legal Assistants $95 per hour The firm will be paid a retainer in the amount of $220,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Headden 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: Todd Headden, Esq. Hayward PLLC 7600 Burnet Road, Suite 530 Austin, TX 78757 Tel: (737) 881-7102 Email: theadden@haywardfirm.com About JD Hunt Custom Homes Inc. JD Hunt Custom Homes Inc. is a custom home builder based in Austin, Texas. The Company specializes in high-end residential construction projects and has been involved in sustainable building practices, including materials repurposing. JD Hunt Custom Homes Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10700) on May 11, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. The Debtors are represented by Kell C. Mercer, Esq. at KELL C. MERCER PC. JJ PFISTER: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------ JJ Pfister Distilling Company LLC filed with the U.S. Bankruptcy Court for the Eastern District of California a Plan of Reorganization under Subchapter V dated July 30, 2025. The Debtor is a distillery located in Sacramento, California that began operations in December 2016. Before ceasing operations in November 2024, the Debtor operated a distillery, tasting room and restaurant all located at 9819 Business Park Drive, Suite 3, Sacramento, California. The entire facility is approximately 16,000 square feet of leased premises including a tasting room and restaurant. The Debtor has retained New Mill Capital Disposition, LLC to act as broker/auctioneer. Employment of New Mill was approved by Order entered June 11, 2025. The sale of all assets was approved by order entered July 10, 2025. This is a liquidating Plan of Reorganization, the Debtor intends to sell all assets and use the sale proceeds to satisfy claims to the extent possible. By the Plan, the Debtor proposes to liquidate the assets of the estate, pay priority creditors, secured creditors as allowed and to distribute the balance of the proceeds to general unsecured creditors. Class 5 consists of General Unsecured Claims. This Class shall be paid pro rata from auction proceeds and per Contract Terms. This Class is impaired. Class 6 consists of Equity Interests in the Debtor. The Debtor anticipates dissolution after payment of claims pursuant to Plan. This is a liquidating Plan of Reorganization. It is the intention of the Debtor to sell all assets through the Court approved sale and distribute the proceeds as described in this Plan. The Debtor has the financial wherewithal to execute the Plan. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=rh6KiI from PacerMonitor.com at no charge. Counsel to the Debtor: Stephen M. Reynolds, Esq. Reynolds Law Corporation PO Box 733799 Davis, CA 95617 Tel: (530) 297-5030 Email: sreynolds@lr-law.net About JJ Pfister Distilling Company LLC JJ Pfister Distilling Company LLC was a Sacramento-based craft distillery known for producing organic spirits including vodka, gin, rum, whiskey, and brandy. The Company operated from a facility on Business Park Drive but ceased on-site operations in 2024. Its products remain available through select retailers and online distribution. JJ Pfister Distilling Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-22194) on May 2, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Fredrick E. Clement handles the case. The Debtor is represented by Stephen Reynolds, Esq. at REYNOLDS LAW CORPORATION. JOSEPH G. BABA: Hires Dunning & Associates CPAs LLC as Accountant ----------------------------------------------------------------- Joseph G. Baba, D.D.S., P.A. seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Dunning & Associates CPAs LLC as accountant. The firm will assist the Debtor in the preparation and filing of the tax returns and bi-weekly payroll, monthly bank and creditor reconciliations, sales tax filings, and other general accounting assistance. The firm will be paid at the rate of $985 per month. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Nicole Gugle 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: Nicole Gugle Dunning & Associates CPAs LLC 567 West Douglas Wichita, KS 67213 Tel: (316) 264-7203 About Joseph G. Baba, D.D.S., P.A. Joseph G. Baba, D.D.S. P.A., doing business as TMJ & Sleep Therapy Centre of Kansas, provides personalized evaluation and treatment of temporomandibular joint disorders, craniofacial pain and sleep-related breathing disorders from its Kansas practice. Founded and led by Dr. Joseph G. Baba, the Centre combines dental, orthopedic and sleep medicine expertise to deliver tailored, non-invasive therapies aimed at relieving headaches, jaw pain and sleep disturbances. Joseph G. Baba, D.D.S. P.A. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-10771) on July 28, 2025. In its petition, the Debtor reports total assets of $277,330 and total liabilities of $2,580,530. The Debtor is represented by January M Bailey, Esq. at PRELLE ERON & BAILEY, P.A. JOSEPH G. BABA: Hires Prelle Eron & Bailey P.A. as Counsel ---------------------------------------------------------- Joseph G. Baba, D.D.S., P.A. seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Prelle Eron & Bailey, P.A., as counsel. The firm's services include: a) advising the Debtor of the rights, powers and duties as the Debtor and Debtor-in-Possession, including those with respect to the operation and management of the business; b) advising the Debtor concerning and assisting in the negotiation and documentation of financing agreements, cash collateral orders, and related transactions; c) investigating into the nature and validity of liens asserted against the Debtor, and advising Debtor concerning the enforceability of said liens; d) investigating and advising the Debtor concerning and taking such action as may be necessary to collect income and assets in accordance with applicable law, and recover property for the benefit of the estates; e) preparing on behalf of the Debtor such applications, motions, pleadings, orders, notices, schedules and other documents as may be necessary and appropriate, and reviewing the financial and other reports to be filed herein; f) advising the Debtor concerning and preparing responses to applications, motions, pleadings, notices and other documents which may be filed and served herein; g) counseling the Debtor in connection with the formulation, negotiation and promulgation of Chapter 11 plan or plans and related documents; and h) performing such other legal services for and on behalf of the Debtor as may be necessary or appropriate in the administration of the cases. The firm will be paid at these rates: David Prelle Eron $450 per hour January Bailey $315 per hour Laura Prelle $140 per hour Paralegal/Legal Assistant $115 per hour The firm will be paid a retainer in the amount of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Bailey 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: January M. Bailey, Esq. Prelle Eron & Bailey, P.A. 301 N Main St Ste 2000 Wichita, KS 67202-4820 Tel: (316) 262-5500 Fax: (316) 262-5559 Email: january@eronlaw.net About Joseph G. Baba, D.D.S., P.A. Joseph G. Baba, D.D.S. P.A., doing business as TMJ & Sleep Therapy Centre of Kansas, provides personalized evaluation and treatment of temporomandibular joint disorders, craniofacial pain and sleep-related breathing disorders from its Kansas practice. Founded and led by Dr. Joseph G. Baba, the Centre combines dental, orthopedic and sleep medicine expertise to deliver tailored, non-invasive therapies aimed at relieving headaches, jaw pain and sleep disturbances. Joseph G. Baba, D.D.S. P.A. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-10771) on July 28, 2025. In its petition, the Debtor reports total assets of $277,330 and total liabilities of $2,580,530. The Debtor is represented by January M Bailey, Esq. at PRELLE ERON & BAILEY, P.A. KAMC HOLDINGS: Moody's Withdraws 'B3' CFR Following Debt Repayment ------------------------------------------------------------------ Moody's Ratings withdrew all of KAMC Holdings, Inc.'s (dba Franklin Energy) ratings including the B3 corporate family rating, B3-PD probability of default rating and B3 backed senior secured first lien bank credit facilities ratings. Prior to the withdrawal, the outlook was negative. This action follows the repayment of the company's rated debt after refinancing. RATINGS RATIONALE Moody's have withdrawn the ratings as a result of the repayment and termination of the rated credit facilities. Franklin Energy is a provider of outsourced energy efficiency products, services, and software to utilities throughout the US. KAMC HOLDINGS: S&P Withdraws 'B-' ICR Following Debt Repayment -------------------------------------------------------------- S&P Global Ratings withdrew its 'B-' issuer credit rating on KAMC Holdings Inc. (doing business as Franklin Energy), following the company's private refinancing, which repaid its outstanding debt facilities. As a result, S&P discontinued its 'B-' issue-level ratings and '3' recovery rating on Franklin Energy's first-lien debt. At the time of withdrawal, S&P's rating on Franklin Energy had a negative outlook due to the company's heightened refinancing risk, which the company addressed with its refinancing, and our expectations for thin free operating cash flows. KLARVIO LLC: Gets Interim OK to Use Cash Collateral Until Aug. 27 ----------------------------------------------------------------- Klarvio, LLC got the green light from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral until August 27 in accordance with its budget. The Debtor said it needs to use cash collateral to cover payroll, insurance, and other critical expenses while it reorganizes under Chapter 11. The Debtor conducted lien searches and found no active UCC filings in Texas asserting a claim over its cash collateral. However, a UCC financing statement was found in North Carolina from United Midwest Savings Bank, N.A., dated November 12, 2024. As adequate protection for the use of its cash collateral, United Midwest Savings Bank will be granted replacement liens on all cash collateral generated and property acquired by the Debtor post-petition, with the same extent and priority it possessed as of the petition date. The replacement liens will be subject and subordinate to any valid and enforceable liens existing as of the petition date and will not prime any senior liens unless otherwise ordered by the court. Moreover, the replacement liens do not apply to any Chapter 5 causes of action. The final hearing is set for August 27. Objections are due by August 26. United Midwest Savings Bank is represented by: Ron Satija, Esq. Hayward PLLC 7600 Burnet Rd., Ste. 530 Austin, TX 78757 (737) 881-7102 rsatija@haywardfirm.com About Klarvio LLC Klarvio LLC is a boutique certified public accounting firm that provides small businesses with tax planning and preparation, bookkeeping and accounting, and strategic advisory services. The firm incorporates modern technology to streamline financial processes and tailor its guidance to each client's needs. Klarvio sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 25-11181) on July 31, 2025. In the petition signed by Jennifer Rickle, member, the Debtor disclosed $115,457 in total assets and $1,186,915 in total debts. Judge Christopher G. Bradley oversees the case. Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as bankruptcy counsel. KLARVIO LLC: Seeks to Tap Lane Law Firm PLLC as Bankruptcy Counsel ------------------------------------------------------------------ Klarvio LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ The Lane Law Firm, PLLC as counsel. The firm will render these services: a. assist, advise and represent the Debtor relative to the administration of the chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these rates: Robert Lane, Partner $595 per hour Zach Casas, Partner $500 per hour Kyle Garza, Partner $450 per hour Grant Bullwinkel, Partner $450 per hour Paralegals $250 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received retainer payments in the amount of $35,000 from the Debtor. Mr. Lane disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Tel: (713) 595-8200 Fax: (713) 595-8201 Email: notifications@lanelaw.com About Klarvio LLC Klarvio LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-11181) on July 31, 2025. At the time of filing, the Debtor estimated $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Judge Christopher G Bradley presides over the case. Robert Chamless Lane, Esq. at The Lane Law Firm PLLC represents the Debtor as counsel. L.D. LYTLE: Hires Joyce W. Lindauer Attorney PLLC as Counsel ------------------------------------------------------------ L.D. Lytle, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Joyce W. Lindauer Attorney, PLLC to handle its Chapter 11 case. The firm will be paid at these rates: Joyce W. Lindauer $595 per hour Paul B. Geilich $525 per hour Laurance Boyd $295 per hour Dian Gwinnup, Paralegal $250 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received from the Debtor a retainer of $21,783. Joyce W. Lindauer, Esq., a partner at Joyce W. Lindauer Attorney, 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: Joyce W. Lindauer, Esq. Joyce W. Lindauer Attorney, PLLC 117 S. Dallas Street Ennis, TX 75119 Telephone: (972) 503-4033 Facsimile: (972) 503-4034 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 reports estimated assets and liabilities between $1 million and $10 million each. Judge Michelle V. Larson handles the case. The Debtor is represented by Joyce Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC. LAVENDER LANDSCAPE: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Lavender Landscape Design Co. LLC 1872 E. Broadway Road Tempe, AZ 85282 Business Description: Lavender Landscape Design Co. LLC, based in Tempe, Arizona, provides luxury landscape architecture, design, and construction services for residential clients, offering features such as 3D renderings, custom fire pits, water features, swimming pools, hardscaping, and outdoor lighting. Founded in 2019 by Haley Tew, the Company operates from a 20,000-square-foot facility and serves clients across Arizona with an emphasis on personalized, high-end outdoor environments. The firm handles both design and build phases in-house, catering to projects ranging from mid-sized renovations to multimillion-dollar estate landscapes. Chapter 11 Petition Date: August 9, 2025 Court: United States Bankruptcy Court District of Arizona Case No.: 25-07403 Judge: Hon. Madeleine C. Wanslee Debtor's Counsel: Ronald J. Ellett, Esq. ELLETT LAW OFFICES, P.C. 2999 North 44th Street Suite 330 Phoenix, AZ 85008 Tel: 602-235-9510 E-mail: rjellett@ellettlaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Haley Tew as manager. 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/V2ATT5I/Lavender_Landscape_Design_Co_LLC__azbke-25-07403__0001.0.pdf?mcid=tGE4TAMA LESLIE'S POOLMART: S&P Downgrades ICR to 'CCC+', Outlook Negative ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on U.S. specialty pool supply retailer Leslie's Poolmart Inc.'s to 'CCC+' from 'B-'. At the same time, S&P lowered its issue-level rating on the company's $757 million senior secured term loan due 2028 to 'CCC+' from 'B-'; the '4' recovery rating is unchanged. The negative outlook reflects the elevated risk of liquidity deterioration that could lead to a potential default scenario over the subsequent 12 months. Leslie's Poolmart Inc. reported significantly weaker-than-anticipated results in the third quarter (ended June 28, 2025) and revised its guidance downward for the remainder of the year amid weak consumer demand, stemming from adverse weather trends and increased competitive pressures. S&P said, "The downgrade reflects our expectation for very high leverage due to ongoing weak consumer demand trends. Leslie's revenue declined 12% in the third quarter as cooler weather delayed pool usage and servicing across key regions. In addition, we believe increased promotional intensity by competitors in core and specialty chemicals is driving consumers to big box and discount players that have recently used highly promotional pricing to clear excess inventory given the slow start to the key pool-selling season. The sales decline also drove a roughly 300 basis point (bps) decline in company-adjusted EBITDA margin during the quarter. "Given the importance of the third quarter and the company's corresponding downward revision of its full-year sales and EBITDA guidance, we now forecast weaker credit metrics including S&P Global Ratings-adjusted leverage sustained in the high-7x area in fiscal 2025. This compares with reported leverage of nearly 20x due to the relatively short terms of Leslie's operating leases, which are deleveraging in our adjusted leverage ratio. "We forecast sales declines and a material compression in profitability will persist through fiscal 2026. In addition to unfavorable weather trends and less rationale industry pricing behavior in the chemicals category, we believe tariff-related inflationary pressures will continue to drive increased consumer price sensitivity over the next 12 months. While we expect Leslie's will pursue selective price investments to better align its value proposition with other players, it may take time to regain lost market share. Given our view that Leslie's faces increased competition leading to loss of share and higher profit volatility, we have revised our business risk assessment to vulnerable from weak. "We now forecast S&P Global Ratings-adjusted EBITDA margins will remain 10.5%-12.0% in fiscals 2025 and 2026 (200-300 bps below our prior forecast), after declining 200 bps to 13.7% in fiscal 2024, as professional fees, increased promotional activity, and declining sales constrict profitability. This is partially offset by broad cost controls, including reductions in labor. Our forecast does not contemplate any material reductions to Leslie's fixed cost base such as store closures or the sale of core and noncore assets. We expect the company will update its plan surrounding these initiatives over the coming quarter. "We now expect Leslie's will generate lower reported free operating cash flow (FOCF) of $15 million-$20 million in fiscal 2025, normalizing to $5 million-$10 million annually thereafter. Notwithstanding ongoing profitability pressures, our forecast incorporates working capital inflows given tight inventory management and improved payables terms. Combined with our expectation for reduced capital spending of $30 million--to support the buildout of local fulfillment centers, store conversions, new store openings, and maintenance needs--we expect FOCF of $15 million-$20 million in fiscal 2025. Absent a meaningful improvement in profitability that is dependent upon the successful execution of its strategic initiatives and improved demand trends, we forecast $5 million-$10 million of positive FOCF due to reduced working capital benefits in fiscal 2026. Given the reduction in our FOCF forecast, we expect limited incremental debt reduction over the next 12 months. "We continue view Leslie's liquidity position as adequate. Following the third quarter, Leslie's repaid all outstandings under its $250 million asset-based lending (ABL) facility. Moreover, the company has more than two years until its maturities, with its term loan due March 2028 and ABL facility with a springing three-month maturity ahead of the term loan. We anticipate the company will continue to pause share repurchases and limit acquisitions in the near term while it any dedicates excess cash to debt paydown and growth investments. Leslie's repaid $25 million of its senior secured term loan in the first quarter, bringing the balance to $757 million and removing its quarterly amortization requirement. To the extent that operating pressures mount beyond our base case, we would expect the company to further reduce growth capital spending--its annual maintenance capital spending is approximately $20 million--and pursue potential asset sales. "The negative outlook reflects the risk of diminishing FOCF and constrained liquidity if consumer demand for pool supply products remains weak for longer than we currently anticipate due to unfavorable weather, excess supply, and/or price sensitivity. "We could lower our ratings on Leslie's over the next 12 months if we envision a specific default scenario over the subsequent 12 months. This could occur if the company cannot generate FOCF and its liquidity deteriorates. "We could raise the rating if the company demonstrates an ability to stabilize the business and its market share position through the successful execution of strategic initiatives." This would likely be evidenced by: -- Sustained top-line growth and improved profitability, including S&P Global Ratings-adjusted EBITDA margin approaching 16% or higher; and -- S&P Global Ratings-adjusted leverage in the low-5x area (about 8x on a reported basis) or better. LET'S REPAIR: Seeks Subchapter V Bankruptcy in Washington --------------------------------------------------------- On August 1, 2025, Let's Repair LLC filed Chapter 11 protection in the Western District of Washington. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Let's Repair LLC Let's Repair LLC, doing business as Cellairis, a mobile device repair and accessories business located in Bellingham, Washington. Let's Repair LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-12150) on August 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Timothy W. Dore handles the case. The Debtor is represented by Jennifer L. Neeleman, Esq. and Thomas D. Neeleman, Esq. at Neeleman Law Group PC. LHW CONSTRUCTION: Seeks Subchapter V Bankruptcy in California ------------------------------------------------------------- On August 1, 2025, LHW Construction and Development 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 LHW Construction and Development LHW Construction and Development is a single asset real estate company operating in the construction industry. LHW Construction and Development sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11407) on August 1, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Martin R. Barash handles the case. LIFT SOCIETY: Hires Mirsky Corporate Advisors as Special Counsel ---------------------------------------------------------------- Lift Society Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Mirsky Corporate Advisors as special counsel. The firm will assist the Debtor in recovering property of the estate and to negotiate and settle any postpetition shareholder disputes. The firm will be paid at these rates: Steven J. Mirsky, Partner $625 per hour Richard L. Daniels, Of Counsel $595 per hour Attorneys/Contract Attorneys $350 to $525 per hour Paralegal $160 to $220 per hour The retainer is $10,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Mirsky 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. Mirsky, Esq. Mirsky Corporate Advisors 901 Dove St., Ste 120 Newport Beach, CA 92660 Tel: (949) 200-6837 Email: smirsky@mirskycorporateadvisors.com About Lift Society Inc. Established in 2016, Lift Society Inc. is a boutique fitness center focused on strength and aesthetic training. The gym provides semi-private lifting sessions, with a capacity of 8 to 12 people per class, ensuring individualized guidance and expert coaching. LIFT Society has several locations across Los Angeles, including Hollywood, Studio City, Culver City, and Santa Monica. Lift Society sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-10258) on February 19, 2025. In its petition, the Debtor reported total assets of $172,083 and total liabilities of $1,235,866. Judge Martin R. Barash handles the case. The Debtor is represented by: Matthew D. Resnik, Esq. RHM Law, LLP 17609 Ventura Blvd., Ste 314 Encino, CA 91316 Tel: (818) 285-0100 Fax: (818) 855-7013 Email: matt@rhmfirm.com LINQTO INC: Judge Refuses to Move Ch. 11 Case to Delaware --------------------------------------------------------- Soma Biswas of The Wall Street Journal reports that on Tuesday, August 5, 2025, a bankruptcy judge ruled that investment platform Linqto's Chapter 11 case will stay in Houston, denying a major shareholder's request to move the proceedings to Delaware. Judge Alfredo Perez said the company's creation of a Texas shell entity months before its insolvency complied with bankruptcy law. Linqto, which allowed small investors to buy pre-IPO shares of prominent private companies, filed for bankruptcy last July 2025, citing federal investigations into its practices, including whether it adequately disclosed pricing to customers. About Linqto Inc. Linqto Inc. is a San Jose-based financial technology company operating in the alternative investment space. Linqto Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90187) on July 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500 million and $1 billion. The Debtor is represented by Gabrielle A. Hamm, Esq. at Schwartz, PLLC. Breakpoint Partners LLC is the Debtor's restructuring advisor. Epiq Corporate Restructuring, LLC is the Debtor's claims agent. ThroughCo Communications, LLC is the Debtor's public relations agent. LMD HOLDINGS: Hires Robert Bassel Esq. as Counsel ------------------------------------------------- LMD Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to employ Robert Bassel, Esq. to handle its Chapter 11 case. The firm will be paid at $350 per hour. The firm received from the Debtor a retainer in the amount of $26,738. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert N. Bassel, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert N. Bassel, Esq. P.O. Box T Clinton, MI 49236 Telephone: (248) 835-7683 Email: bbassel@gmail.com About LMD Holdings, LLC LMD Holdings LLC operates Luca Mariano Distillery, a beverage manufacturer located at 128 Letton Drive in Danville, Kentucky. LMD Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-47214) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million to $10 million each. Honorable Bankruptcy Judge Paul R. Hage handles the case. The Debtor is represented by Robert Bassel, Esq. at ROBERT N. BASSEL. LYNNHAVEN SCHOOL: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Lynnhaven School, Inc. got the green light from the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, to use cash collateral. The order signed by Judge Klinette Kindred authorized the Debtor's interim use of cash collateral pending the final hearing on September 24. The Debtor requires cash on hand and cash flow from its operations to fund its working capital needs. Virginia Credit Union, Inc., Wells Fargo Vendor Financial Services, LLC, Drake Bank and the U.S. Small Business Administration are the creditors that may have interests in the cash collateral. In case of any diminution in value of their collateral, the secured creditors will be provided with protection in the form of a replacement lien on assets acquired by the Debtor after its Chapter 11 filing. This replacement lien will have the same validity, priority and extent as the secured creditors' pre-bankruptcy lien. As additional protection, SBA will receive a monthly payment of $629.39, starting on August 15. The Debtor, which has served students in grades 9–12 since 2010, recently faced financial challenges stemming from increased operational costs and a costly campus relocation under former leadership. In response, the school restructured its board, reappointed its founder Dr. Johnathan Harris, and returned to its original Warriner Road campus in an effort to stabilize operations and continue its mission of providing alternative, holistic education. About Lynnhaven School, Inc. 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, listing up to $500,000 in assets and up to $10 million in liabilities. Johnathan Harris, president of Lynnhaven School, signed the petition. Lynn L. Tavenner, Esq., at Tavenner & Beran, PLC, represents the Debtor as legal counsel. M & N STRUCTURES: Cash Collateral Hearing Set for Aug. 13 --------------------------------------------------------- The U.S. Bankruptcy Court for the District of Minnesota is set to hold a hearing on August 13 to consider another extension of M & N Structures, Inc.'s authority to use cash collateral. The Debtor's authority to use cash collateral pursuant to the court's August 6 interim order expires on August 13. The August 6 order authorized the Debtor to use up to $62,923.15, including cash subject to liens by BMO Bank, N.A. and the U.S. Small Business Administration, in accordance with its budget. As adequate protection, replacement liens will be granted to both creditors on property acquired by the Debtor after its Chapter 11 filing, to the same extent and with the same priority as their pre-bankruptcy liens. These replacement liens do not apply to any Chapter 5 claims. In addition, the Debtor has agreed to make monthly payments of $15,125 and $2,250 to BMO Bank and SBA, respectively, and keep the lenders' collateral insured. The Debtor owes approximately $2.54 million to BMO and $500,000 to SBA. Both creditors hold perfected security interests in substantially all of the Debtor's assets. As of the petition date, the Debtor's collateral (cash, machinery, and receivables) was valued at about $2.3 million and is projected to increase slightly to $2.48 million by late October. The Debtor, a structural steel fabrication company founded in 1991 with 21 employees, grew significantly in 2021–2022 but has faced declining revenues and profitability since late 2023. The downturn was worsened by operational missteps, misuse of a revolving credit line, and inability to reduce costs in line with revenue. Despite efforts to resolve financial issues through out-of-court arrangements, the Debtor determined that Chapter 11 reorganization was the best option to preserve value. About M & N Structures Inc. M & N Structures, Inc. provides structural steel fabrication and design-build services across Minnesota and surrounding states. It specializes in in-house 3D modeling, BIM detailing, CNC-equipped fabrication, and steel erection. M & N serves commercial, industrial, and energy-sector projects from its facility in Winsted, Minnesota. M & N sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 25-42489) on July 30, 2025, listing $3,092,696 in total assets and $5,246,089 in total liabilities. Jonathan Henriksen, president of M & N, signed the petition. Cameron Lallier, Esq., at Bassford Remele, A Professional Association is the Debtor's legal counsel. BMO Bank, N.A., as lender, is represented by: James M. Jorissen, Esq. Taft Stettinius & Hollister, LLP 2200 IDS Center 80 South Eighth Street Minneapolis, MN 55402 Telephone: 612-977-8400 Facsimile: 612-977-8650 jjorissen@taftlaw.com M.I.S. COMMODITIES: Claims to be Paid from Future Income -------------------------------------------------------- M.I.S. Commodities, Inc. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization under Subchapter V dated August 4, 2025. The Debtor is a Florida corporation that is an international marketer of food and agricultural services. Due to a change in the sugar commodity industry, coupled with the devaluation of the U.S. Dollar caused various clients in South America and Mexico to breach the terms of their purchase contracts. This in turn caused the Debtor to obtain numerous Merchant Cash Advances and other significant debt that the Debtor seeks to restructure through this plan. The Debtor will commit disposable income to fund the Plan in the total amount of allowed unsecured claims in accordance with the Projections. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. Such net disposable income should be sufficient to provide a distribution to unsecured creditors over the life of the Plan of approximately $12,000.00. This Plan under Chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from cash flow from operation of the Debtor's business and current cash on hand. The Debtor estimates that the General Unsecured Creditors hold total aggregate claims in the amount of $3,248,973.33. After confirmation of the Plan, and under the Confirmation Order, the Debtor may take all necessary steps, and perform all necessary acts, to consummate the terms of the Plan. In addition to the provisions set forth elsewhere in the Plan, the following shall be the means for implementation of the Plan. The Plan shall be funded through the Debtor's future income from employment. Except as otherwise provided in the Plan, under section 1141 of the Code, the Property of the Estate of the Debtor, including, without limitation, the Actions shall revest in the Debtor on the Effective Date, free and clear of all Liens, Claims and Equity Interests of holders of Claims and Equity Interests, except as otherwise provided in the Plan or the Confirmation Order. A full-text copy of the Plan of Reorganization dated August 4, 2025 is available at https://urlcurt.com/u?l=TxeZX6 from PacerMonitor.com at no charge. Counsel to the Debtor: Adam I. Skolnik, Esq. Law Office of Adam I. Skolnik, P.A. 1761 West Hillsboro Boulevard, Suite 201 Deerfield Beach, FL 33442 Telephone: (561) 265-1120 Facsimile: (561) 265-1828 Email: askolnik@skolniklawpa.com About M.I.S. Commodities Inc. M.I.S. Commodities Inc. is a commodity broker based in Delray Beach, Fla. M.I.S. Commodities sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15027) on May 5, 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 Erik P. Kimball handles the case. The Debtor is represented by Adam I. Skolnik, Esq. MADDISON REVOCABLE TRUST: Seeks Chapter 11 Bankruptcy in Georgia ---------------------------------------------------------------- On August 4, 2025, Maddison Revocable Trust filed Chapter 11 protection in the Northern District of Georgia. 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 Maddison Revocable Trust Maddison Revocable Trust, with Kareem A. Maddison as trustee, is associated with real estate assets in Atlanta, Georgia, including a residential property located at 1696 Nottingham Way NE. The property is a single-family home in the Sherwood Forest neighborhood. Maddison Revocable Trust sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58758) on August 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10million each. Honorable Bankruptcy Judge Lisa Ritchey Craig handles the case. The Debtor is represented by Jason Pettie, Esq. at TAYLOR DUMA, LLP. MAT TRANSPORT: Unsecureds Will Get 6% of Claims in Plan ------------------------------------------------------- MAT Transport, Inc., submitted an Amended Disclosure Statement for the Amended Plan of Reorganization. The Debtor engaged May, Potenza, Baran & Gillespie, P.C. ("MPBG") as chapter 11 counsel to facilitate a reorganization of its debts and operations. As part of the reorganization, the Debtor seeks to confirm its Plan. The Plan has seven classes of creditors and equity interest holders and allows for the payment of creditors' claims through the sale of real property and a new value contribution (the "New Value" contribution) from the owner of the Debtor. West Valley National Bank will either receive the sale proceeds from the sale of the Grand Avenue Property or stay relief to foreclose on the Grand Avenue Property in satisfaction of its claims. To pay the remaining creditors, the Debtor will make distributions from the sale of the Nebraska Property and a New Value contribution of $15,000 from Marko Tomovic to retain his equity interest in the Debtor. The Debtor hopes to emerge from bankruptcy in Summer 2025, as soon as it can sell the Nebraska Property. The Plan will pay creditors from the sale of the Nebraska Property and from an insider New Value contribution. The goal of the Plan is to pay creditors as soon as the Debtor finishes a claims allowance process, which the Debtor hopes will be around the Effective Date or shortly thereafter, and as soon as the Nebraska Property is sold. The Effective Date, as defined in the Plan, is the date that is 14 days after the Confirmation Order becomes a Final Order. Class 6 consists of all Allowed Claims held by non-insiders that are not secured and do not have statutory priority. Among other claimants, these include trade creditors and deficiency claims of lenders with vehicles as collateral for their loans. Class 6 claims will receive a pro rata share of the proceeds of the Nebraska Property and the New Value contribution. The Debtor arrived at the $15,000 for a New Value contribution because the value of the equity interests in the Debtor when the Debtor operates one truck and four trailers and does not operate out of the Grand Avenue location is de minimis. The Debtor believes that the New Value contribution meets the requirements for such contributions in the Ninth Circuit. It is new and will be in cash because the Debtor's principal, Marko Tomovic, will supply the contribution from his own money and not from the Debtor, and the contribution will be made in cash or the equivalent. It will be provided on the Effective Date. It is substantial in relation to the equity interest retained because the ongoing operations of the Debtor will be "owner-operated," and will only involve one truck and four trailers. It is necessary to provide a return to creditors sufficient to meet confirmation requirements. The Debtor roughly estimates that the total amount of general unsecured creditors claims is $3,663,438.55. This total includes filed unsecured claims and scheduled unsecured claims. The Debtor estimates that the administrative expense claims will be around $200,000, which amount is comprised of allowed professional fees. The Debtor estimates that priority unsecured claims total roughly $20,978. The New Value contribution is $15,000 and the sale price of the Nebraska Property of $800,000, after estimating the administrative expense claims at $200,000 and the priority unsecured claims at $20,978, the total amount available to distribute to unsecured creditors is approximately $594,022. The Debtor therefore estimates that recovery to unsecured creditors will be approximately 6% on account of their claims. This amount may vary depending on the total amount of administrative expense claims, whether unsecured claims are objected to, and whether the Nebraska Property sells for its asking price. Class 6 is impaired and entitled to vote. All payments required by the Plan shall be funded with (i) the sale of the Nebraska Property and (ii) the New Value contribution. In accordance with Section 1128 and Bankruptcy Rule 3017(c), a hearing will be held before the Honorable Madeline C. Wanslee, United States Bankruptcy Court, 230 N. First Ave., Courtroom 702, Phoenix, AZ 85003, on September 23, 2025 at 11:30 a.m., to consider whether the requirements for confirmation have been met and whether the Plan has received the requisite acceptance, or whether the Plan can be confirmed. Ballots must be received by counsel for the Debtor no later than 5:00 p.m. on September 12, 2025. A full-text copy of the Amended Disclosure Statement dated August 5, 2025 is available at https://urlcurt.com/u?l=JRp8dc from PacerMonitor.com at no charge. Mat Transport, Inc. is represented by: D. Lamar Hawkins, Esq. Guidant Law, PLC 402 E. Southern Ave. Tempe AZ 85282 Telephone: (602) 888-9229 Facsimile: (480) 725-0087 Email: lamar@guidant.law About Mat Transport Mat Transport, Inc. is a trucking company that provides transportation services to customers who need large quantities of goods or other large items transported within the State of Arizona to other states. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 24-05932) on July 22, 2024. In the petition signed by Marko Tomovic, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Madeleine C. Wanslee oversees the case. D. Lamar Hawkins, Esq., at Guidant Law, PLC, serves as the Debtor's counsel. MCCLAIN FAMILY: Unsecureds Will Get 38.80% of Claims over 5 Years ----------------------------------------------------------------- McClain Family Cellars, Inc., filed with the U.S. Bankruptcy Court for the Central District of California a Chapter 11 Plan for Small Business dated August 5, 2025. The Debtor was founded in 2018 and manufactures and sells premium wine through 3 physical locations ("Lounges"); a corporate office in Irvine, California, and through an established wine club. Debtor also maintains a wine making facility in Buellton, CA, and a storage facility in Santa Maria, California. This Plan is a reorganizing plan. All allowed claims will be paid from cash on hand as of the Effective Date and revenues generated by the Debtor's ongoing business. The Allowed Administrative Claim of Golden Goodrich LLP will be paid quarterly over 5 years. The Allowed Administrative claim of Goe Forsythe & Hodges LLC will be paid quarterly over 5 years. The Allowed Administrative claim of Arturo Cisneros, Subchapter V Trustee, will be paid quarterly over 1 year. Allowed rental default claims will be paid on the Effective Date. Allowed priority claims will be paid in full over 5 years from the Petition Date, plus applicable interest. Payments will be made to allowed priority claims quarterly beginning the first full quarter after the Effective Date. Allowed general unsecured claims will be paid in a percentage distribution over 5 years. Payments will be made to allowed general unsecured claims quarterly beginning the first full quarter after the Effective Date. To the extent that a claim is disputed, the claim will not be paid unless and until a final non-appealable order is entered allowing the claim. The Debtor has overall been performing well during the course of this Case and will be able to pay creditors a pro rata distribution through the Debtor's cash on hand and revenues generated from the Business. The Debtor believes a clear and robust path to profitability and a successful reorganization has been proposed. The Debtor's reorganization strategy is centered on stabilizing core operations while capitalizing on high-margin revenue streams, including the innovative "Virtual Winery" platform. Class 18 consists of General Unsecured Claims. Allowed general unsecured claims will receive quarterly payments over the course of five years with the totality of the payments over the course of those five years equaling 38.80% of the total amount of the Class 18 claims. Class 18 claimants will receive quarterly payments beginning the first full quarter after the Effective Date. The Reorganized Debtor shall have the right to pay the allowed claims in Class 18 in full at any time without premium or penalty of any kind. The allowed unsecured claims total $1,934,220.19. All current interest holders will retain their percentage equity membership in the Debtor that they held as of the Petition Date. The Debtor's projections demonstrate that through cash on hand and revenues to be generated over the life of the Plan, the Debtor will have the ability to make the payments due on the Effective Date, the payments to priority 17 holders over 5 years from the Petition Date, and the payments to Class 18 holders over the course of 5 years. These projections are based upon the historical revenue and expenses of the Business, the actual revenue and expenses incurred during the course of the Case, and anticipated growth over the next 5 years. A full-text copy of the Plan of Reorganization dated August 5, 2025 is available at https://urlcurt.com/u?l=lgtXAP from PacerMonitor.com at no charge. Counsel to the Debtor: David M. Goodrich, Esq. Golden Goodrich, LLP 3070 Bristol Street, Suite 640 Costa Mesa, CA 92626 Telephone No: (714) 966-1000 Facsimile No: (714) 966-1002 Email: dgoodrich@go2.law About McClain Family Cellars Inc. McClain Family Cellars Inc. is a Black-owned winery based in the Santa Ynez Valley, Calif. The winery is known for producing luxury, award-winning wines and emphasizes four core pillars: Family, Friends, Faith, and Freedom, offering a range of wines from both red and white varieties. It provides experiences like private events, in-home tastings, and barrel blending. Additionally, McClain operates multiple locations, including in Laguna Beach, Irvine, Solvang, and Buellton, and offers a wine club with various membership options. It is a proud member of the African-American Vintners Association. McClain sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-10589) on March 1, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Theodor Albert handles the case. The Debtor is represented by Marc C. Forsythe, Esq. at Goe Forsythe & Hodges, LLP. MIRAMAR TOWNHOMES: Taps Institutional Property Advisors as Expert ----------------------------------------------------------------- Miramar Townhomes SWNG 2, LLC and its affiliates received approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Gregory Austin and Institutional Property Advisors as testifying expert. The Debtors need a testifying expert for the August 25, 2025, trial on plan confirmation. The expert has agreed to accept $30,000 in exchange of the services, with additional $3,000 per additional half days, all payable by Nord Group LLC, not by the debtors. The firm can be reached through: Gregory Austin Institutional Property Advisors 3 Riverway, #800 Houston, TX 770056 Email: gaustin@ipausa.com About Miramar Townhomes SWNG 2 Miramar Townhomes SWNG 2, LLC is owned by Miramar Townhomes SWNG GP, LLC and Miramar Townhomes LP SWNG, LLC. Avenue SWNG TIC, 1 and Avenue SWNG TIC, 2 are both owned by The Avenue SWNG, LLC while Toro Place, LLC is owned by Toro Place Holdings, LLC. Miramar owns the Miramar Townhomes located at 2380 Bering Drive, Houston, Texas, while Toro owns the Toro Place Apartments located at 12101 Fondren Road, Houston, Texas. The Avenue SWNG TIC companies own The Avenue Apartments located at 5050 Yale Street, Houston, Texas. On November 27, 2024, the Debtors filed Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 24-90608). At the time of the filing, each Debtor reported $10 million to $50 million in assets and liabilities. Judge Christopher M. Lopez handles the cases. The Debtors tapped Melissa A. Haselden, Esq., at Haselden Farrow, PLLC as bankruptcy counsel and O'ConnorWechsler, PLLC as litigation counsel. MODEL TOBACCO: Trustee Hirschler Fleischer as Special Counsel ------------------------------------------------------------- Lynn L. Tavenner, Chapter 11 Trustee of Model Tobacco Development Group, LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to retain Hirschler Fleischer, P.C. as special counsel. Hirschler will provide these services in connection with federal and Virginia historic rehabilitation tax credit programs: (a) review Model Tobacco's file and prepare for a meeting with the Trustee to discuss the tax credit programs and related items; (b) meet with the Trustee and general counsel to discuss and answer questions about the tax credit programs; (c) perform additional review and/or research related to the discussions; and (d) meet with the Trustee and general counsel to address any outstanding items. Hirschler will receive a flat fee of $15,000 for the above Designated Services. According to court filings, Hirschler does not represent or hold any interest adverse to the Debtor or the Estate with respect to the matter on which it is to be employed, and its retention is not prohibited under Bankruptcy Rule 5002. The firm can be reached at: Kristen E. Burgers, Esq. Hirschler Fleischer, P.C. 1676 International Drive, Suite 1350 Tysons, VA 22102 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. Judge Brian F. Kenney oversees the case. 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 EYE: Amends Several Secured Claims Pay Details ----------------------------------------------------- Modern Eye Gallery, LLC, submitted a First Amended Plan of Reorganization under Subchapter V dated August 4, 2025. This Plan of Reorganization under Chapter 11 of the Code proposes to pay the creditors of the Debtor from future income of the Debtor. This Plan provides for the following classes: Administrative Claims, Priority Claims, Secured Claims, Priority Unsecured Claims, Non Priority Unsecured Claims, and the interest of the Debtor and/or the Equity Security Holders. Non-priority unsecured creditors holding allowed claims, if any, will receive pro rata distributions from the ongoing cash flow of the debtor. Class No. 2 consists of the Secured Claim of Lumenis Financial Solutions. Lumenis Financial Solutions has an allowed secured claim in the amount of $38,408.85, secured by a UCC-1 on Lumenis IPL device which is presently valued at $18,000.00 at Lumenis Financial Solutions' lien priority. Accordingly, the Debtor proposes to the pay the $38,408.85 secured claim of Lumenis Financial Solution at a value of $18,000, at 7.50% interest, and at a monthly payment of $559.91 for a period of 36 months with plan payments to commence on the Effective Date. Further, the Debtor shall treat the unsecured portion of the secured claim in the amount of $20,408.85 as a general unsecured claim in Class No. 6. Class No. 3 consists of the Secured Claim of Stearns Bank. Stearns Bank has an allowed secured claim in the amount of $101,283.00, secured by a UCC1 on a Tempsure Eye Envi Radio Frequency Device which is presently valued at $10,400.00 at Stearns Bank's lien priority. The Debtor proposes to pay $10,400.00 of the claim of Stearns Bank as secured pursuant to Section 506 of the Code at a monthly payment of $323.50 at 7.5% interest for a period of 36 months with plan payments to commence on the Effective Date. Further, the Debtor shall treat the unsecured portion of the secured claim in the amount of $90,883.00 as a general unsecured claim in Class No. 6. Class No. 4 consists of the Secured Claim of Stearns Bank. Stearns Bank has an allowed secured claim in the amount of $8,404.00, secured by a UCC-1 on a TearCare hub which is presently valued at $180.00 at Stearns Bank's lien priority. The Debtor proposes to pay $180.00 of the claim of Stearns Bank as secured pursuant to Section 506 of the Code in a single lump sum payment with plan payments to commence on the Effective Date. Further, the Debtor shall treat the unsecured portion of the secured claim in the amount of $8,224.00 as a general unsecured claim in Class No. 6. Class No. 5 consists of the US Bank Equipment Finance. The US Bank Equipment Finance has an allowed secured claim in the amount of $29,621.40, secured by a UCC-1 on a Optomap California Retinal Camera by Optos which is presently valued at $6,800.00 at US Bank Equipment Finance's lien priority The Debtor proposes to pay $6800.00 of the claim of Stearns Bank as secured pursuant to 11 Section 506 of the Code at a monthly payment of $211.52 at 7.5% interest for a period of 36 months with plan payments to commence on the Effective Date. Further, the Debtor shall treat the unsecured portion of the secured claim in the amount of $22,821.40 as a general unsecured claim in Class No. 6. Like in the prior iteration of the Plan, the Debtor shall pay allowed unsecured claims a pro-rata distribution for a period of no more than 36 months from the Effective Date in three annual payments in the amount of $1,200.00 each for a total amount of $3,600.00. Said payments shall commence on the one-year anniversary of the Effective Date, and shall be paid annually thereafter. The allowed unsecured claims total $517,287.42. The Debtor anticipates the funds to meet the plan payments shall come from the daily operations of the Debtor's business. A full-text copy of the First Amended Plan dated August 4, 2025 is available at https://urlcurt.com/u?l=LfqMYC from PacerMonitor.com at no charge. Counsel to the Debtor: Jay R. Lefkovitz, Esq. LEFKOVITZ & LEFKOVITZ, PLLC 908 Harpeth Valley Place Nashville, TN 37221 Tel: (615) 256-8300 Fax: (615) 255-4516 Email: jlefkovitz@lefkovitz.com About Modern Eye Gallery Modern Eye Gallery, LLC, is an optometry clinic owned and operated by Dr. John Kirby, (Dr. Kirby) who is the sole member of the LLC and a licensed optometrist. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-00636) on Feb. 14, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. Glen Watson, Esq., at Watson Law Group, PLLC, serves as Subchapter V trustee. Judge Nancy B. King oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC, represents the Debtor as legal counsel. MOSAIC COMPANIES: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------------ Mosaic Companies, LLC and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a Disclosure Statement for Joint Chapter 11 Plan of Liquidation dated August 5, 2025. Mosaic is a nationally recognized leader in the surfaces industry, offering a broad range of products including luxury wall and mosaic tile, floor tile, and slab to retail and wholesale customers. The Debtors commenced these chapter 11 cases to pursue the going concern sale of their Walker Zanger and Anthology businesses to Artivo Surfaces, LLC under the Asset Purchase Agreement by and among the Company, as sellers, and WZ Buyer, LLC, as buyer, and Artivo, as guarantor (the "Artivo APA"), and to sell, or execute an orderly winddown of, their remaining businesses and assets, including Surfaces' business and assets, followed by confirming a plan of liquidation. To facilitate these goals, the Debtors filed a sale motion and the Plan. In the spring 2025, WZ Buyer, LLC (the "Buyer"), an affiliate of Artivo emerged as the sole interested party who submitted a viable bid for a going concern sale of the Walker Zanger business and the Anthology business. The Debtors' negotiations with the Buyer resulted in the parties entering into a letter of intent on May 27, 2025, and thereafter, following confirmatory diligence by the Buyer, the parties executed the Artivo APA on July 3, 2025. Once approved, the Artivo APA will provide gross-proceeds of up to $17.5 million to the Debtors' estates for the benefit of all stakeholders. Closing the proposed transaction will substantially reduce the Debtors' operating cash burn, including as related to real property leases, employees, and vendors. Importantly, these proceeds should be sufficient to pay off the DIP Facility and Prepetition ABL Facility, thereby immediately realizing interest expense and other savings. The Artivo APA requires that the sale close no later than August 22, 2025. The overall purpose of the Plan is to provide for the liquidation of the Debtors in a manner designed to maximize recovery to stakeholders. Generally, the Plan provides the following: * Payment in full of all Allowed Administrative Expense Claims, Fee Claims, U.S. Trustee Fees, Restructuring Expenses, Secured Claims, Priority Tax Claims and Other Priority Claims; * Funding of a Liquidating Trust to govern the liquidation of the Debtors' estates and remaining assets following the Effective Date; * Payment of the Prepetition Term Loan Secured Parties on the Effective Date of 100% of Cash of the Debtors as of the Effective Date, other than Cash required on the Effective Date the fund the Trust Administration Reserve, the Professional Fees Account, U.S. Trustee Fees, and Restructuring Expenses; * Distribution to the Prepetition Term Loan Secured Parties of 100% of Class A Liquidating Trust Interests, which shall entitle the holders of Allowed Prepetition Term Loan Secured Claims to all Distributable Proceeds of the Liquidating Trust other than those reserved for holders of General Unsecured Claims; * Distribution to holders of General Unsecured Claims of 100% of Class B Liquidating Trust Interests, which shall entitle the holders of General Unsecured Claims to a Pro Rata Share of Distributable Proceeds on account of Avoidance Actions; * No recovery to the holders of Subordinated Claims, Interests, Intercompany Claims or Intercompany Interests on account of their respective Claims and Interests; and * Distributions under the Plan shall be funded from all remaining assets of each of the Debtors that have not been sold or abandoned prior to the Effective Date, all assets recovered by the Liquidating Trustee on behalf of the Liquidating Trust on or after the Effective Date, including proceeds of Causes of Action and Avoidance Actions, except those expressly waived and/or released pursuant to the Plan or sold in connection with any Asset Sale, and any proceeds resulting from the Liquidating Trustee's investment of the Liquidating Trust Assets on or after the Effective Date. Class 3 consists of General Unsecured Claims against the Debtors. Each holder of an Allowed General Unsecured Claim shall receive in full satisfaction, settlement, and release of, and in exchange for such Allowed General Unsecured Claim, 100% of Class B Liquidating Trust Interests. Class 3 is Impaired, and the holders of General Unsecured Claims are entitled to vote to accept or reject the Plan. Distributions under the Plan shall be funded from Cash on hand, including the proceeds of the Asset Sales, as well as from Cash realized from other Liquidating Trust Assets. A full-text copy of the Disclosure Statement dated August 5, 2025 is available at https://urlcurt.com/u?l=nLqxJK from Epiq Corporate Restructuring, LLC, claims agent. Counsel to the Debtors: Matthew B. Harvey, Esq. Derek C. Abbott, Esq. Sophie Rogers Churchill, Esq. Avery Jue Meng, Esq. MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N. Market Street, 16th Floor Wilmington, Delaware 19801 Tel: (302) 658-9200 Fax: (302) 658-3989 Email: mharvey@morrisnichols.com dabbott@morrisnichols.com srchurchill@morrisnichols.com ameng@morrisnichols.com About Mosaic Companies, LLC Mosaic Companies, LLC is a nationally recognized leader in the surfaces industry, offering a broad range of products including luxury wall and mosaic tile, floor tile, and slab to retail and wholesale customers. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 25-11296) on July 8, 2025. At the time of filing, the Debtor estimated $10,000,001 to $50 million in assets and $100,000,001 to $500 million in liabilities. Judge Craig T Goldblatt presides over the case. Sophie Rogers Churchill, at Morris, Nichols, Arsht & Tunnell LLP, is the Debtor's counsel. NEAREST GREEN DISTILLERY: Lender Seeks Appointment of Receiver -------------------------------------------------------------- Ferron Salniker of Brewbound reports that a leading figure in the spirits industry is embroiled in a lawsuit that could decide the fate of a historic Tennessee distillery. Farm Credit Mid-America, a major agricultural lender, has filed a complaint in the U.S. District Court for the Eastern District of Tennessee in Chattanooga seeking the emergency appointment of a receiver to assume control of Nearest Green Distillery, founded by Uncle Nearest CEO Fawn Weaver. About Nearest Green Distillery Nearest Green Distillery, also known as Uncle Nearest Distillery, is a Shelby, Tennessee-based distillery. NUMALE CORP: Trustee Taps Burr & Forman as Special Counsel ---------------------------------------------------------- Michael Carmel, the Chapter 11 Trustee of Numale Corporation and its affiliates, seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Burr & Forman LLP as special counsel. The Debtor needs the firm's legal assistance in connection with Case No. 7:24-cv-00927-D-RN filed in the U.S. District Court for the Eastern District of North Carolina. The firm will be paid at these rates: Emily Taube, Esq. $675 Kristen Watson, Esq. $540 Partners $525 to $950 per hour Counsel $625 per hour Associates $375 to $500 per hour Paraprofessionals $290 to $450 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Emily Taube, Esq. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Emily Taube, Esq. Burr & Forman LLP 700 12th Avenue South Unit 1209 Nashville, TN 37201-2385 Tel: (901) 692-8442 About Numale Corporation Numale Corporation and six affiliates filed Chapter 11 petitions (Bankr. D. Nev. Lead Case No. 25-10341) on January 22, 2025. At the time of the filing, Numale reported up to $50,000 in both assets and liabilities. Judge Natalie M. Cox oversees the cases. The Debtors are represented by David A. Riggi, Esq., at Riggi Law Firm. OCUGEN INC: Posts $14.7M Net Loss on $1.4M Revenue in Fiscal Q2 --------------------------------------------------------------- Ocugen, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $14.7 million on $1.4 million of total revenue for the three months ended June 30, 2025, compared to a net loss of $15.3 million on $1.1 million of total revenue for the three months ended June 30, 2024. For the six months ended June 30, 2025, the Company reported a net loss of $30.1 million on $2.9 million of total revenue, compared to a net loss of $27.2 million on $2.2 million of total revenue for the same period in 2024. As of June 30, 2025, the Company had an accumulated deficit of $370.3 million and cash totaling $27 million. This amount will not be sufficient to fund the Company's operations over the next 12 months after the date that the condensed consolidated financial statements are issued. Due to the inherent uncertainty involved in making estimates and the risks associated with the research, development, and commercialization of biotechnology products, the Company may have based this estimate on assumptions that may prove to be different than actuals, and the Company's operating plan may change as a result of many factors currently unknown to the Company. The Company is subject to risks and uncertainties frequently encountered by companies in its industry, and while the Company intends to continue its research, development, and commercialization efforts for its product candidates, the Company will require significant additional funding. If the Company is unable to obtain additional funding in the future and/or its research, development, and commercialization efforts require higher than anticipated capital, there will be a negative impact on the financial viability of the Company. The Company will continue to explore options to fund its operations through public and private placements of equity and/or debt, payments from potential strategic research and development arrangements, sales of assets, licensing and/or collaboration arrangements with pharmaceutical companies or other institutions, funding from the government, particularly for the development of the Company's novel inhaled mucosal vaccine platform, or funding from other third parties. Such financing and funding may not be available at all, or on terms that are favorable to the Company. While Company management believes that it has a plan to fund operations, its plan may not be successfully implemented. "If we cannot obtain the necessary funding, we will need to delay, scale back, or eliminate some or all of our research and development programs and commercialization efforts; consider other various strategic alternatives, including a merger or sale; or cease operations. If we cannot expand our operations or otherwise capitalize on our business opportunities because we lack sufficient capital, our business, financial condition, and results of operations could be materially adversely affected." As a result of these factors, together with the anticipated continued spending that will be necessary to continue to research, develop, and commercialize the Company's product candidates, there is substantial doubt about the Company's ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued. The condensed consolidated financial statements do not contain any adjustments that might result from the resolution of any of the above uncertainties. As of June 30, 2025, the Company had $53.6 million in total assets, $50.5 million in total liabilities, and $3.1 million in total stockholders' equity. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/bdd7mth8 About Ocugen Inc. Malvern, Pa.-based Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. The Company's technology pipeline includes: Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, and Inhaled Mucosal Vaccine Platform. Philadelphia, Pennsylvania-based PricewaterhouseCoopers LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 5, 2025. The report highlighted that the Company has incurred recurring net losses since inception that raise substantial doubt about its ability to continue as a going concern. PA NATURAL: Licensed Cannabis Dispensary Up for Sale on August 12 ----------------------------------------------------------------- PPL Group LLC will hold a public auction on Aug. 12, 2025, at 10:00 a.m. ET, to sell all right, title and interest in and to all of the equity interests in PA Natural Medicine LLC ("company") owned by CSAC Acquisition PA II Corp., which interest is purported to constitute 100% of the total outstanding membership interest in the Company. Licensed medical cannabis dispensary with locations in State College, Pennsylvania, Bloomsburg, Pennsylvania and Selinsgrove, Pennsylvania. Any sale of the Collateral will be subject to third party and regulatory approvals, including any applicable state medical marijuana or cannabis laws. PPL Group can be reached at: PPL Group LLC 105 Revere Drive, Suite C Northbrook, IL 60062 Tel: 224-927-5320 224-927-5300 Email: sales@pplgroupllc.com Interested buyers may pay via Wire Transfer, ACH Transfer, Money Order, Cashier's Check, or Company Check accompanied by a Bank Letter of Guarantee. WIRE/ACH Transfer Instructions: CIBC (The Private Bank & Trust) Bank USA 120 South LaSalle City/State Chicago, IL 60603 Tel: (312) 564-6800 Option #1 ABA# 071006486 SWIFT# PVTBUS44 Bene: PPL Group LLC Account number: 2438450 PA Natural Medicine -- https://ayrwellness.com -- operates licensed medical cannabis dispensaries in State College, Bloomsburg, and Selinsgrove, Pennsylvania. PAP-R PRODUCTS: Hires Hoeman Capital Management as Business Broker ------------------------------------------------------------------ Pap-R Products Company seeks approval from the U.S. Bankruptcy Court for the Southern District of Illinois to hire Hoeman Capital Management, L.L.C. as business broker. The firm will assist the Debtor in the potential disposition of certain assets known as its Colorkraft business line, and if Debtor cannot find a buyer for the entire line of business, to then liquidate the equipment used in that business Hoeman's fee will be equal to 5 percent of the total sales proceeds and a reimbursement of out-of-pocket expenses not to exceed $10,000. Mark W. Hoeman, Sr., Esq., president of Hoeman Capital Management, 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: Mark W. Hoeman, Sr., Esq. Hoeman Capital Management, L.L.C. 1540 Yarmouth Point Chesterfield, MO 63017 Phone: (314) 401-4253 Email: mhoeman@hoemancapital.com About Pap-R Products Company Pap-R Products Company specializes in a wide range of coin and currency wrapping solutions. The Company's product lineup includes flat coin wrappers, automatic coin rolls, currency bands, and specialized wraps for items such as napkins and canceled checks. All products are crafted from high-quality Kraft paper and adhere to ABA standards when applicable. The company also offers custom imprinting services for most products, excluding basic bill bands and storage boxes. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60040) on March 3, 2025. In the petition signed by Kenneth Scott Ware, president, the Debtor disclosed up to $50 million in both assets and liabilities. Larry E. Parres, Esq., at LEWIS RICE LLC, represents the Debtor as legal counsel. PBREIA LLC: Seeks to Hire Hilco Real Estate as Exclusive Agent -------------------------------------------------------------- PBREIA, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Hilco Real Estate, LLC as its exclusive agent. The firm will market and sell the Debtor's property located at 190 Calle Primera, San Diego, California 92173. The firm will render these services: (a) meet with the Debtor to ascertain the Debtor's goals, objectives and financial parameters in selling the property; (b) provide market analysis for the sale of the property; (c) solicit interested parties for the sale of the property, and marketing the property for sale through a sales process; and (d) at the Debtor's direction and on the Debtor's behalf, negotiate the terms of the sale of the property. In the event the property is sold during the term, Hilco shall earn a fee equal to 5 percent of the gross sale proceeds. The Debtor shall reimburse Hilco for all reasonable and customary reimbursable expenses incurred capped at $25,000. 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 PBREIA, LLC PBREIA, LLC is a single-asset real estate company whose principal property is located in San Diego, California. PBREIA, LLC in Arlington, TX, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. N.D. Tex. Case No. 25-42439) on July 2, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. Lynn Boyer as member, signed the petition. Judge Mark X Mullin oversees the case. FOLEY & LARDNER, LLP serve as the Debtor's legal counsel. PINEY POINT: Amends Fannie Mae Secured Claims Pay ------------------------------------------------- Piney Point 2023, LLC submitted a Second Amended Combined Plan and Disclosure Statement dated August 4, 2025. The Debtor owns a 1,094-unit apartment complex. Pre-petition, the complex suffered significant damage from certain Houston area storm events resulting in significant reduction of revenue based upon non-occupancy of the damaged units. During the bankruptcy proceeding the Debtor has completed the repair of the damages units and the units are substantially now occupied by tenants. Moreover, certain units suffered severe damage as a result of arson. The Debtor during the Chapter 11 has been repairing this units and such units will soon return into service. Class 1 consists of the Secured Claim of Fannie Mae approximately $74,566,073.62, as of the petition date, together with all interest, fees and costs as allowed in the applicable loan documents. The regular non-default monthly payment of interest as required under the terms of the Loan Documents. For the avoidance of doubt, the amounts due for a 28-day month is $334,694.24, for a 29-day month is $313,101.06, for a 30-day month is $323,897.65 and for a 31-day month is $334,694.24. The Debtor will sell the Apartment Complex on or before November 15, 2025, paying all allowed secured creditors from the proceeds of the sale on all amounts then outstanding in full on this Plan's Effective Date. The Debtor agrees that if it is unable to sell by November 15, 2025, this Plan will not go effective and the Debtor's bankruptcy proceeding will automatically be dismissed with prejudice. At all times the requisite insurance required under the secured creditor's loan documents with the Debtor must be maintained. The Debtor asserts that creditors in Class 1 are oversecured creditors. The Debtor has received multiple offers from prospective purchasers to acquire the Apartment Complex in an amount that appears to be in excess of all Allowed Secured Claims and ad valorem property taxes. The Debtor reserves all rights to amend/supplement this Plan. Like in the prior iteration of the Plan, allowed claims of general unsecured creditors (including allowed claims of creditors whose executory contracts or unexpired leases are being rejected under this Plan) shall be paid in full according to terms. Kalkan Capital USA LLC, a Texas limited liability company is the sole Member of the Debtor. Dr. Fercan E. Kalkan is the sole member and manager of Kalkan Capital USA, LLC, a Texas limited liability company. Kalkan Capital USA LLC, a Texas limited liability company, shall retain its interest in the Debtor; however, no distributions shall be made until all Allowed Claims have been paid in full. On the Effective Date, all property of the estate and interests of the Debtor, that is property of the estate as of the date of Plan confirmation, will vest in the reorganized Debtor pursuant to Section 1141(b) of the Bankruptcy Code free and clear of all liens, claims, interests and encumbrances except as otherwise provided in this Plan. A full-text copy of the Second Amended Combined Plan and Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=hSRi9S from PacerMonitor.com at no charge. About Piney Point 2023 Piney Point 2023, LLC is a single asset real estate company headquartered in Spring, Texas. Piney Point 2023 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-30128) on January 7, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $50 million and $100 million. Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by: Steven Douglas Shurn, Esq. Hughes Watters Askanase Total Energies Tower 1201 Louisiana, 28th Floor Houston TX 77002 Tel: (713) 590-4200 Email: sshurn@hwa.com PRECISION MEDICINE: S&P Affirms 'B-' ICR Following Dividend Recap ----------------------------------------------------------------- S&P Global Ratings affirmed its 'B-' issuer credit rating on Precision Medicine Group Holdings Inc., a clinical research organization (CRO) and commercialization services provider with a focus on biomarker-based drug development. S&P assigned a 'B-' issue-level credit rating and a '3' recovery rating (rounded estimate: 50%) to the first-lien term loan. The stable outlook reflects S&P's expectation for a divestiture-driven revenue decline this year, followed by a 10%-11% revenue increase in 2026 due to the expectation of improved business growth, relatively stable margins of about 14%, and free operating cash flow (FOCF) to debt (after earn-out payments) of less than 3%. S&P said, "Precision's dividend recap will increase leverage above our prior expectations, but credit metrics remain aligned with our view of its financial sponsor ownership. Precision plans to fund a $211 million dividend and refinance $693 million of existing debt with the proposed new debt issuance and $104 million of balance sheet cash. As of first-quarter 2025, S&P Global Ratings-adjusted leverage declined to 7.0x (versus 8.4x as of first-quarter 2024). This dividend recap will increase leverage to 8.5x-9x in 2025, above our prior expectations of 6x-7x due to additional debt and the divestiture of Project Farma in March 2025 (which was its manufacturing business). We expect improving business growth will contribute to S&P Global Ratings-adjusted leverage to declining to 7.6x in 2026." Precision is well-positioned to lower leverage in 2026. Its S&P Global Ratings-adjusted leverage was 7.1x in 2024, in line with our expectation, but revenue declined about 1%, underperforming our projection of about 8% growth. Revenue pressure was primarily due to lower new business from budget cuts made by large pharma clients across the industry, following the peak demand during the pandemic, coupled with the Inflation Reduction Act pricing pressure. This led to trial cancellations and CRO backlog declines in 2023-2024. In 2025, S&P anticipates a rebound in revenue growth as the industry continues to recover. For 2025, we expect revenue to decline 13%. S&P said, "We expect the PfM segment to grow approximately 11% in 2025 and Precision AQ to grow 2%, combined with about a $155 million annual revenue decline from the manufacturing business divestment (Project Farma). We expect S&P Global Ratings-adjusted EBITDA margin in 2025 to increase to 14% (from 12.7% in 2024) as the company focuses on improving operating leverage. As a result, we expect S&P Global Ratings-adjusted leverage to increase to 8.5x-9x in 2025 (from 7.1x in 2024). We also expect FOCF (after earn-out payments) of $19 million in 2025." S&P said, "For 2026, we expect 10%-11% revenue growth, with PfM growing 10% and Precision AQ in the mid-single-digit range. We project S&P Global Ratings-adjusted EBITDA margin to remain around 14% with absolute EBITDA increasing roughly $10 million as a result of cost-saving initiatives. As a result, we expect adjusted leverage to decline to 7.6x in 2026 and FOCF (after earn-out payments) of $33 million. "The stable outlook reflects our expectation for a divestiture-driven revenue decline this year, followed by a 10%-11% revenue increase in 2026 due to the expectation of improved business growth, relatively stable margins of about 14%, and FOCF to debt (after earn-out payments) of less than 3%. "We could lower our rating on Precision within the next 12 months if we consider its capital structure to be unsustainable over the long term. This could occur if we expect its FOCF before earn-out payments to be negligible, potentially due to a decline in its profitability stemming from increasing competition, integration challenges, or extended clinical trial delays or cancellations. "Although unlikely within the next 12 months, we could raise our rating on Precision if we expect it to sustain FOCF to debt (after earn-out payments) above 3%. This could occur if it significantly improves its EBITDA margins or its earn-out payment commitments subside in subsequent years. We would also require the company to reduce its S&P Global Ratings-adjusted leverage below 7x and commit to sustaining it at that level before raising the rating." PRIME DEVELOPMENT: Unsecureds Will Get 0.3% Dividend over 12 Months ------------------------------------------------------------------- Prime Development Inc. filed with the U.S. Bankruptcy Court for the Eastern District of New York a Small Business Disclosure Statement describing Plan of Reorganization dated August 4, 2025. The Debtor is a corporation with a principal place of business at 157 28th Street, Brooklyn, NY 11232. Upon the confirmation of the plan, the Debtor will continue business operations. The Debtor plans to offer a feasible plan of reorganization, providing treatment to all secured claims and administrative claims, and a pro-rated distribution to all unsecured undisputed claims and unsecured disputed claims which filed a proof of claim prior to the bar date established by court order. The plan will be funded from the funds accumulated on the Debtor's DIP account, from the date of the petition, as well as from continuing operating income and reorganized business operations of the Debtor. Class II shall consist of the general unsecured claims in the total amount of $8,611,663.51: * U.S. Small Business Administration with a claim amount of $522,498.45. Creditor shall receive 0.3% ($1,567.49) dividend to be payable by equal monthly installments in the amount of $130.63 within 12 months commencing on the effective date. * New York State Department of Taxation & Finance with a claim amount of $1,618.15. Creditor shall receive 0.3% (4.85) dividend to be payable by equal monthly installments in the amount of $0.40 within 12 months commencing on the effective date. * JPMorgan Chase Bank, NA with a claim amount of $50,565.84. Creditor shall receive 0.3% ($151.69) dividend to be payable by equal monthly installments in the amount of $12.64 within 12 months commencing on the effective date. * JPMorgan Chase Bank, N.A. with a claim amount of $23,048.06. Creditor shall receive 0.3% ($69.14) dividend to be payable by equal monthly installments in the amount of $5.76 within 60 months commencing on the effective date. * Yerson Munos Zapatanga with a claim amount of $8,000,000.00. The Debtor disagrees with the amount of claim and is currently working on a claim objection, be filed with the court shortly. * Internal Revenue Service with a claim amount of $13,933.01. Creditor shall receive 0.3% ($41.79) dividend to be payable by equal monthly installments in the amount of $3.4 within 12 months commencing on the effective date. Akmal Muhamatkulov, the equity interest holder, shall retain her interest in the Debtor following confirmation, in consideration of a new value contribution, being made by her as the equity holder, toward the payment of general unsecured creditor claims. Akmal Muhamatkulov will contribute funds in installments over the life of the plan, on a as needed basis, representing the principal's new value contribution. A full-text copy of the Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=jPF5G8 from PacerMonitor.com at no charge. Prime Development Inc. is represented by: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Telephone: (718) 513-3145 Facsimile: (347) 342-3156 Email: alla@kachanlaw.com About Prime Development Prime Development Inc. is a corporation with a principal place of business at 157 28th Street, Brooklyn, NY 11232. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 24-41566) on April 11, 2024, disclosing under $1 million in both assets and liabilities. The Debtor is represented by LAW OFFICES OF ALLA KACHAN, P.C. PRINCE LAND: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Prince Land, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, to use cash collateral pending a further hearing on September 3. The order approved the Debtor's interim use of cash collateral for court-authorized payments including U.S. Trustee fees and for the expenses set forth in its budget. All creditors with security interests in cash collateral will receive replacement liens on post-petition cash collateral, with the same validity, priority and extent as their pre-bankruptcy liens. The replacement liens are automatically perfected without additional filings and are junior to U.S. Trustee fees, court costs, and court-awarded professional fees. As additional protection, the Debtor will keep the collateral insured in accordance with applicable loan and security agreements. Several creditors may hold liens on the Debtor's cash collateral, including TD Bank, Crum & Forster, the U.S. Small Business Administration, and Ian Prince, who has filed three separate UCC-1 financing statements. These secured creditors may have interests in various assets such as accounts receivable, deposit accounts, and other cash equivalents. About Prince Land, Inc. Prince Land, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18992-EPK) on August 1, 2025. In the petition signed by Bruce Prince, president, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Erik P. Kimball oversees the case. Craig I. Kelley, Esq., at Kelley Kaplan & Eller, PLLC, represents the Debtor as legal counsel. PROFESSIONAL MAIL: Bankr. Administrator Unable to Appoint Committee ------------------------------------------------------------------- The U.S. Bankruptcy Administrator for the Eastern District of North Carolina disclosed in a filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Professional Mail Services, Inc. About Professional Mail Services Inc. Professional Mail Services Inc. provides billing, printing, and mailing services, offering end-to-end solutions that include First Class mail, direct mail, offset printing, fulfillment, and high-speed laser printing. The company serves clients across various industries and integrates technology with in-house programming to support document management and customer service needs. Professional Mail Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02371) on June 23, 2025. In its petition, the Debtor reports total assets of $1,412,148 and total liabilities of $7,299,380. Honorable Bankruptcy Judge Pamela W. McAfee handles the case. The Debtor is represented by Danny Bradford, Esq., at Bradford Law Offices. PUERTO RICO: Board Ouster Complicates PREPA Bankruptcy Battle ------------------------------------------------------------- Michelle Kaske of Bloomberg News reports that a leadership shake-up at Puerto Rico's financial oversight board is slowing the bankruptcy of its power utility, with the presiding judge halting an upcoming filing deadline and seeking details on changes to the board's membership. The White House dismissed five of the seven members of the federal panel overseeing the commonwealth’s finances and the Puerto Rico Electric Power Authority's (PREPA) bankruptcy. The board must submit a report by August 25, 2025 explaining how the removals could affect the case, according to report. About Puerto Rico Puerto Rico is a self-governing commonwealth in association with the United States. The chief of state is the President of the United States of America. The head of government is an elected Governor. There are two legislative chambers: the House of Representatives, 51 seats, and the Senate, 27 seats. The governor-elect is Ricardo Antonio Rossello Nevares, the son of former governor Pedro Rossello. In 2016, the U.S. Congress passed PROMESA, which, among other things, created the Financial Oversight and Management Board and imposed an automatic stay on creditor lawsuits against the government, which expired May 1, 2017. The members of the oversight board are: (i) Andrew G. Biggs, (ii) Jose B. Carrion III, (iii) Carlos M. Garcia, (iv) Arthur J. Gonzalez, (v) Jose R. Gonzalez, (vi) Ana. J. Matosantos, and (vii) David A. Skeel Jr. On May 3, 2017, the Commonwealth of Puerto Rico filed a petition for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). The case is pending in the United States District Court for the District of Puerto Rico under case number 17-cv-01578. A copy of Puerto Rico PROMESA petition is available at http://bankrupt.com/misc/1701578-00001.pdf On May 5, 2017, the Puerto Rico Sales Tax Financing Corporation (COFINA) commenced a case under Title III of PROMESA (D.P.R. Case No. 17-01599). Joint administration has been sought for the Title III cases. On May 21, 2017, two more agenciesÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡ Employees Retirement System of the Government of the Commonwealth of Puerto Rico and Puerto Rico Highways and Transportation Authority (Case Nos. 17-01685 and 17-01686) commenced Title III cases. U.S. Chief Justice John Roberts named U.S. District Judge Laura Taylor Swain to preside over the Title III cases. The Oversight Board has hired as advisors, Proskauer Rose LLP and Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose LLP; and Hermann D. Bauer, Esq., at O'Neill & Borges LLC are onboard as attorneys. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains the case Web site https://cases.primeclerk.com/puertorico Jones Day is serving as counsel to certain ERS bondholders. Paul Weiss is counsel to the Ad Hoc Group of Puerto Rico General Obligation Bondholders. RED ROCK: Hires A. Bischoff of adTumbler as Financial Consultant ---------------------------------------------------------------- Red Rock Mega Storage LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Alexander Bischoff, an officer, director and shareholder of adTumbler, Inc., as financial consultant. The firm will render these services: a. prepare financial models to support DIP Loans for RRMS Phase one completion; b. identify and advise Red Rock re DIP Lenders, interest rates, and loan terms; c. prepare financial models in support of DIP Loans for RRMS Phase two completion; d. prepare financial models in support of RRMS financial reorganization plan; e. provide financial guidance to RRMS on construction lending based on project value & NOI; f. guide on construction financing options for buildings D, E, F, G, H, J, K and L; and g. other services as mutually agreed upon in writing. Mr. Bischoff will be paid a flat fee of $2,500 per month. Mr. Bischoff assured the court that he 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. Mr. Bischoff can be reached at: Alexander Bischoff adTumbler, Inc. Phone: (202) 555-0129 About Red Rock Mega Storage Red Rock Mega Storage, LLC operates a storage facility offering a range of unit sizes, including climate-controlled spaces and enclosed units for RV and boat storage. It serves customers in Reno, Nevada, with 24/7 access and on-site amenities. Red Rock Mega Storage sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-50549) on June 17, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Hilary L. Barnes oversees the case. The Debtor is represented by Kevin A. Darby, Esq., at Darby Law Practice. REDBIRD REALTY: Seeks Chapter 11 Bankruptcy in Oklahoma ------------------------------------------------------- On August 5, 2025, Redbird Realty 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 Redbird Realty LLC Redbird Realty LLC leases and manages residential and commercial real estate properties. The Company operates in the United States, focusing on rental income and property ownership. Redbird Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Okla. Case No. 25-80715) on August 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. The Debtor is represented byJoe Byars, Esq. at HELTON LAW FIRM. RICHFIELD NURSING: Hires Jerome Yellin & Zigdon PC as Accountant ---------------------------------------------------------------- Richfield Nursing and Rehabilitation LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to employ Jerome, Yellin & Zigdon PC, as accountants. The firm will provide accounting services, particularly, with respect to preparation of tax returns and related matters. Jerome Yellin agrees to charge $3,300 plus expenses for each 2024 Tax Return. Jerome Yellin will charge $250 per hour for other accounting services. Jerome Yellin represents no interest adverse to the Debtors, or to their estates, according to court filings. The firm can be reached through: Yosef Zigdon Jerome, Yellin & Zigdon PC 19022 W Ten Mile Road Southfield, MI 48075 Phone: (248) 357-1040 About Richfield Nursing and Rehabilitation LLC Richfield Nursing and Rehabilitation, LLC and affiliates are operators of skilled nursing and rehabilitation centers across Pennsylvania. Each location provides a range of services, including short-term rehabilitation, long-term care, and therapy. Richfield Nursing and Rehabilitation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Lead Case No. 25-01599) on June 4, 2025. In its petition, Richfield Nursing and Rehabilitation reported between $1 million and $10 million in assets and liabilities. Judge Henry W. Van Eck handles the cases. The Debtors are represented by Robert E. Chernicoff, Esq., at Cunningham, Chernicoff & Warshawsky, P.C. RISE MANAGEMENT: Amends Bank of America Secured Claim Pay --------------------------------------------------------- Rise Management, LLC submitted an Amended Combined Plan and Disclosure Statement dated July 31, 2025. This Plan is filed under chapter 11 of the Bankruptcy Code and proposes to pay creditors of the Debtor from cash flow from operations, an infusion of capital, litigation proceeds, and sale of assets. This Plan provides for three classes of secured claims; one class of unsecured claims; and one class of equity security holders. Unsecured creditors holding allowed claims will receive distributions, which the Debtor has valued at approximately 13.6 cents on the dollar. The financial forecast of the Debtor is based upon the funds generated from operation of the Debtor's business and assumes an occupancy rate of 100%. Cash distributions will come from current operations, Litigation Proceeds, and, if necessary, Equity infusions of capital. The Debtor's financial projections are based on rentals increasing during 2025, reaching a 100% occupancy rate by November 2025. The funds for the equity infusion will be obtained from distributions generated through the sale of property owned by a separate non-debtor entity of which JBIT is a member. On May 7, 2025, a Purchase and Sale Agreement was executed by both seller and purchaser. The only contingencies of the sale are due diligence and inspections, with the majority of due diligence and inspections already completed. The executed Purchase and Sale Agreement does not contain any financing contingencies. Thomas Carlotto, counsel for JBIT, has prepared the finance agreements, purchase agreement, bill of sale, title affidavit, and other documents necessary to complete the sale. Title Depot has been selected as the closing agent and has finished the abstract and title commitment, awaiting the final closing date. The distribution from the sale would be sufficient to fund the $148,000.00 payment. The cash infusion will prepay the first $148,000.00 of obligations to BOA under the plan (approximately eighteen months). This equity infusion will only impact treatment of the Class 2 Claim. Class 2 consists of the Secured Claim of the Bank of America, NA. The Secured Claim of Bank of America, N.A. is fully secured and allowed in the approximate amount of $1,389,433.83. The Class 2 Claim shall be amortized over thirty years at the contractual rate of SOFR plus 2.95%, with the applicable SOFR rate on the Effective Date. The applicable interest rate will be subject to change according to the terms of the BOA Loan Documents. Payments will commence on the last day of the first month after the Distribution Date and will continue through the 36th month after the Distribution Date. Within thirty days from the Distribution Date, the Janice Bruno Irrevocable Trust, holder of an Existing Equity Interest, will pay a lump sum payment of $148,000.00 to BOA as a prepayment of approximately the first fifteen months, with monthly payments of principal interest resuming in the 16th month after the Distribution Date. A true up will occur at the end of the fifteenth month when the Bank calculates the actual amounts due using the applicable variable interest rate. Any deficiency will be paid with the payment due on the 16th month; any surplus will be applied to the payment due for the 16th month. A balloon payment for the remaining balance of the Class 2 Claim shall be paid on the last day of the 37th month after the Distribution Date. Based on current information, the Debtor estimates that the balance due under the balloon payment will be $1,357,691.00. The balloon payment will be funded through BOA's collateral being refinanced with a third party lender, payoff by an equity holder, or a sale of the collateral. The Class 2 claim is secured by a mortgage on the Debtor's real property. BOA shall retain its lien on the Debtor's property until paid in full. Like in the prior iteration of the Plan, each Holder of an Allowed General Unsecured Claim shall receive quarterly cash payments equal to its Pro Rata share of $195,000.00, to be paid over a period of eighty-four months. Payments shall commence on the first day of the fifteenth month after the Distribution Date. Class 5 will also receive fifty percent of the Litigation Funds, after payment of all Allowed Administrative Expense Claims, Priority Claims, and Priority Tax Claims. Any distributions of Litigation Funds will not be applied towards the quarterly payment amounts. JBIT, a member of the Debtor, will guarantee $200,000.00 of obligations to BOA during the term of this Plan. The funds to guarantee payment will be a capital contribution from JBIT through Capital Advisors. Capital Advisors, LLC is a Nevis limited liability company that provides private financial and lending services globally. Besides the equity infusion described above, an additional equity infusion of $148,000.00 will be made by JBIT. The funds for the equity infusion will be obtained from profits generated through the sale of property owned by a separate non-debtor entity. This equity infusion will only impact treatment of the Class 2 Claim. A full-text copy of the Amended Combined Plan and Disclosure Statement dated July 31, 2025 is available at https://urlcurt.com/u?l=cdUhFp from PacerMonitor.com at no charge. Counsel to the Debtor: Patrick S. Garrity, Esq. Derbes Law Firm, LLC 3027 Ridgelake Drive Metairie, LA 70002 Telephone: (504) 207-0920 Facsimile: (504) 832-0322 E-mail: pgarrity@derbeslaw.com About Rise Management Rise Management LLC is primarily engaged in renting and leasing real estate properties. The Debtor owns three properties located in New Orleans having a total current value of $1.3 million. Rise Management LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 24-11535) on Aug. 7, 2024. In the petition filed by Cullan Maumas of MagNola Ventures, LLC, the Debtor's manager, the Debtor reported total assets of $2,628,537 and total liabilities of $2,952,920. The Honorable Bankruptcy Judge Meredith S. Grabill oversees the case. The Debtor is represented by Patrick Garrity, Esq. at THE DERBES LAW FIRM, LLC. ROYAL REALTY: Unsecureds to Recover Up to 100% of Claims in Plan ---------------------------------------------------------------- Royal Realty by TLM, LLC, filed with the U.S. Bankruptcy Court for the Western District of Pennsylvania a Small Business Disclosure Statement to accompany Small Business Plan dated August 4, 2025. The Debtor is a limited liability company organized under the laws of the Commonwealth of Pennsylvania. The sole member is Titus Morris. The Debtor owns 8 different properties in the greater Pittsburgh area. 3 of the properties are currently leased with the remainder being vacant. Most of the rent paid on the leased properties. The properties are managed by Morris Real Estate Solutions, an affiliate of the Debtor owned by Titus Morris. There are two major prongs for the Debtor's reorganization: 1. The first prong is selling the vacant properties. The proposed properties to be sold are listed in Section I.13 of the Disclosure Statement and Article 5.1.2 of the Plan. 2. The second prong will be reorganizing and restructuring the loans on the remaining properties down to the values of the properties. If the Debtor successfully achieves both prongs, the Debtor avers that it will be able to continue to operate. Class 8 consists of General Unsecured Creditors. General Unsecured Claims will be paid up to 100% of their Claims through either the sale of property or payment over time. Class 9 consists of Equity Interests. Equity Interests will be retained. The Plan is being funded by the Debtor's disposable income, business operations, and sale of property. A full-text copy of the Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=NXPtFL from PacerMonitor.com at no charge. Counsel to the Debtor: Donald R. Calaiaro, Esq. Andrew K. Pratt, Esq. Calaiaro Valencik 555 Grant Street, Suite 300 Pittsburgh, PA 15219 Telephone: (412) 232-0930 Facsimile: (412) 232-3858 Email: dcalaiaro@c-vlaw.com About Royal Realty By TLM LLC Royal Realty By TLM LLC is a real estate company based in West Mifflin, Pennsylvania. Royal Realty By TLM LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-20186) on January 24, 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 James M. Carr handles the case. Calaiaro Valencik serves as the Debtor's counsel. S&H STEEL: Trustee Hires Watkins & Eager PLLC as Counsel -------------------------------------------------------- Stephen Smith, the Trustee of S&H Steel Corp. seeks approval from the U.S. Bankruptcy Court for the Southern District of Mississippi to employ Watkins & Eager PLLC as counsel. The firm will advise the Trustee in the administration thereof, to attend hearings, question the Debtor and various witnesses, prepare numerous petitions and orders, determine the priority of creditors, investigate claims and determine the validity of liens, recover assets and perform any and all legal services which may become necessary herein. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Spencer 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: Jim F. Spencer, Jr., Esq. Erin A. Mcmanus, Esq. Watkins & Eager PLLC Post Office Box 650 Jackson, MI 39205-0650 Tel: (601) 965-1900 Fax: (601) 965-1901 Email: jspencer@watkinseager.com emcmanus@watkinseager.com About S&H Steel Corp. S&H Steel Corp. filed a Chapter 11 bankruptcy petition (Bankr. S.D. Miss. Case No. 25-01812) on July 25, 2025. The Debtor hires Eileen Shaffer, Esq. as counsel. SAY IT VISUALLY: Seeks Subchapter V Bankruptcy in Washington ------------------------------------------------------------ On August 1, 2025, Say It Visually Inc. filed Chapter 11 protection in the Western District of Washington. According to court filing, the Debtor reports between $100,000 and $500,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Say It Visually Inc. Say It Visually Inc., doing business as Fast Forward Stories, a visual communication services provider based in Bellingham, Washington. Say It Visually Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-12153) on August 1, 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 Timothy W. Dore handles the case. The Debtor is represented by Jennifer L. Neeleman, Esq. and Thomas D. Neeleman, Esq. at Neeleman Law Group, P.C. SCHAFER FISHERIES: Court Extends Cash Collateral Access to Sept. 3 ------------------------------------------------------------------ Schafer Fisheries, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Western Division, to use the cash collateral of Newtek Small Business Finance, LLC. The court's order authorized the Debtor's interim use of cash collateral through September 3 to pay the expenses listed in its latest budget under the same terms and conditions as previously authorized. The required cash collateral payment to Newtek has been increased to $20,000 under the latest order. The next hearing is scheduled for August 27. As of the petition date, Newtek, in coordination with a loan guaranteed by the U.S. Small Business Administration, held a blanket lien on substantially all of the Debtor's assets, including accounts receivable constituting cash collateral. The Debtor requires the continued utilization of cash collateral, representing the proceeds of accounts receivable in order to conduct its business on an ongoing basis. About Schafer Fisheries Schafer Fisheries Inc. is a seafood processor and distributor in Fulton, Ill. Schafer Fisheries filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-80824) on June 20, 2024, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Jennifer Schank of Fuhrman & Dodge, S.C. serves as Subchapter V trustee. Judge Thomas M. Lynch oversees the case. Schafer Fisheries tapped The Golding Law Offices PC and Leibowitz, Hiltz & Zanzig, LLC as bankruptcy counsel, and Philip Firrek as consultant. Newtek Small Business Finance, LLC, as secured creditor, is represented by: Paulina Garga-Chmiel, Esq. Dykema Gossett, PLLC 10 South Wacker Drive, Suite 2300 Chicago, IL 60606 Tel: 312-876-1700 pgarga@dykema.com SD BACKYARD: Hires Robberson Schroedter LLP as Counsel ------------------------------------------------------ SD Backyard, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of California to employ Robberson Schroedter LLP as counsel. The firm will provide these services: a. advise, consult with, and assist the Debtor regarding matters of bankruptcy law; b. represent the Debtor in proceedings or hearings in the bankruptcy court involving matters of bankruptcy law; c. represent the Debtor in contested matters, including adversary proceedings, and other hearings before the Bankruptcy Court and appear at all necessary court hearings and meetings; d. prepare and assist Debtor in the preparation of reports, accounts, applications, and orders; e. advise the Debtor concerning the requirements of the bankruptcy code and rules relating to administration of this bankruptcy case; and f. assist the Debtor in the negotiation, formulation, confirmation, and implementation of the plan of reorganization. The firm will be paid at these rates: Maggie E. Schroedter $665 per hour Lane C. Hilton $495 per hour Attorneys $400 to $665 per hour Paralegals $175 to $275 per hour The Debtor paid the firm a retainer of $32,611. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Hilton 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: Mary R. Robberson, Esq. Maggie E. Schroedter, Esq. Lane C. Hilton, Esq. ROBBERSON SCHROEDTER LLP 501 West Broadway, Suite 1260 San Diego, CA 92101 Tel: (619) 353-5691 Email: mary@theRSfirm.com maggie@theRSfirm.com lane@theRSfirm.com About SD Backyard, LLC SD Backyard, LLC is a San Diego-based restaurant group that operates multiple Asian cuisine restaurants including Steamy Piggy, Formoosa, Yun, Viet Nom, and Oi Shiba. SD Backyard sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Calif. Case No. 25-02776) on July 1, 2025. In its petition, the Debtor reported estimated assets between $50,000 and $100,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Gary B. Rudolph, Esq., at Fennemore, LLP. SDJ MAYPEARL: Hires Joyce W. Lindauer Attorney PLLC as Counsel -------------------------------------------------------------- SDJ Maypearl, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Joyce W. Lindauer Attorney, PLLC to handle its Chapter 11 case. The firm will be paid at these rates: Joyce W. Lindauer $595 per hour Paul B. Geilich $525 per hour Laurance Boyd $295 per hour Dian Gwinnup, Paralegal $250 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received from the Debtor a retainer of $21,783. Joyce W. Lindauer, Esq., a partner at Joyce W. Lindauer Attorney, 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: Joyce W. Lindauer, Esq. Joyce W. Lindauer Attorney, PLLC 117 S. Dallas Street Ennis, TX 75119 Telephone: (972) 503-4033 Facsimile: (972) 503-4034 About SDJ Maypearl, LLC SDJ Maypearl LLC is classified as a single-asset real estate debtor under 11 U.S.C. Section 101(51B), with its principal property located at the intersection of Highway 157 and Diamondcrest Drive in Maypearl, Texas. SDJ Maypearl LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42368) on June 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtors are represented by Joyce Lindauer, Esq. at JOYCE W. LINDAUER ATTORNEY, PLLC. SERENE HEALTH: Seeks Approval to Hire Patrick Gros as CPA --------------------------------------------------------- Serene Health & Wellness LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire Patrick Gros, an accounting professional, to serve as certified public accountant in its Chapter 11 Subchapter V case. Mr. Gros will provide these services: (a) assist the Debtor and its estate with actions necessary to confirm its Plan; (b) prepare the Debtor's Monthly Operating Reports; (c) prepare the Debtor's Plan Feasibility Projections; and (d) provide additional financial services and testimony as needed during the case. Mr. Gros' hourly rate is $250 while rates for his team include $175 for manager, $140 for seniors, and $95 for staff. He has requested a $4,000 retainer, funded with $1,300 from the Debtor-in-Possession account and $2,700 from Ms. Poche's personal funds. According to court filings, Mr. Gros is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The CPA can be reached at: Patrick Gros, CPA 651 River Highlands Blvd. Covington, LA 70433 Telephone: (985) 898-3512 Email: info@PJGrosCPA.com About Serene Health & Wellness LLC Serene Health & Wellness LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. La. E.D. Case No. 25-11276) on June 19, 2025. At the time of the filing, Debtor had estimated assets of between $0 to $50,000 and liabilities of between $100,001 to $500,000. Judge Meredith S. Grabill oversees the case. The De Leo Law Firm LLC is Debtor's legal counsel. SINCLAIR INC: Mulls Sale of TV Stations, Other Assets ----------------------------------------------------- Christopher Palmeri of Bloomberg Law reports that Sinclair Inc., one of the largest television station owners in the U.S., has initiated a strategic review that may lead to a sale or breakup. In a statement Monday, August 11, 2025, the Hunt Valley, Maryland-based broadcaster said it is evaluating "all value-enhancing opportunities," including acquisitions, partnerships, and business combinations across the broadcast, media, and technology industries. The company, which operates 178 stations in 81 markets, is also considering spinning off its ventures division, which includes the Tennis Channel and a digital advertising agency. according to Bloomberg Law. About Sinclair Inc. Headquartered in Hunt Valley, MD, Sinclair, Inc. is the operator of Tennischannel.com, one of the most popular sports streaming services in the country dedicated to providing prerecorded and live coverage of tennis and other racquetball sports. * * * The Troubled Company Reporter reported on Jan. 17, 2025, that S&P Global Ratings lowered the issuer credit rating on Sinclair Inc. to 'B-' from 'B'. At the same time, S&P lowered the issue-level rating on the company's existing senior secured debt to 'B' from 'B+' and placed it on CreditWatch with negative implications. S&P also lowered the issue-level rating on the company's existing senior unsecured debt to 'CCC' from 'CCC+'. SIX COOKS: Case Summary & 19 Unsecured Creditors ------------------------------------------------ Debtor: Six Cooks, LLC d/b/a Blue Forest Market d/b/a Industrial Puppy d/b/a Wild Baby d/b/a Pro Nutrition Labs 137 Industrial Drive Morehead City, NC 28557 Business Description: Six Cooks, LLC operates as a limited liability company managing multiple businesses under various DBAs including Blue Forest Market, Industrial Puppy, Wild Baby, and Pro Nutrition Labs. The Company's operations span retail sales of toys and household goods, manufacturing and sales of service animal products, nutritional supplements, and other specialized product lines. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 25-03043 Judge: Hon. David M Warren Debtor's Counsel: David J. Haidt, Esq. AYERS & HAIDT, PA PO Box 1544 307 Metcalf Street New Bern, NC 28563 Tel: 252-638-2955 E-mail: david@ayershaidt.com Total Assets: $630,133 Total Liabilities: $2,103,297 The petition was signed by David K. Cook as authorized representative of the Debtor. A full-text copy of the petition, which includes a list of the Debtor's 19 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FWWGYRQ/Six_Cooks_LLC__ncebke-25-03043__0001.0.pdf?mcid=tGE4TAMA SKYLINE EMS: Seeks to Hire Hector M. Rivera as Accountant --------------------------------------------------------- Skyline EMS Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Hector M. Rivera, EA, LLC as accountant. The firm's services include: a) preparing federal and state tax returns; b) preparing audited year-end financial statements; c) assisting the Debtor and other professionals employed in the case to prepare a Plan of Reorganization to be filed with the Court; d) assisting the Debtor and its professionals in preparing and reviewing financial projections; e) assisting the Debtor in complying with the Operational Guidelines and Reporting Requirements promulgated by the Office of the United States Trustee; and f) providing such additional financial analysis, projections, and other accounting and tax services as may be required. The firm's hourly billing rates are: Senior Accountants $305 Accountants $205 Assistants $165 As disclosed in the court filings, Hector M. Rivera, EA, LLC does not hold or represent any interest adverse to the Estate, and members of the firm are disinterested persons within the meaning of Secs. 327(a) and 101 of the Bankruptcy Code. The firm can be reached through: Hector M. Rivera Hector M. Rivera, EA, LLC 1723 E. Griffin Parkway, Suite A Mission, TX 78572 Phone: (956) 583-1900 Email: admin@hriveraea.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 Debtors are represented by Antonio Martinez, Jr., Esq. at the Law Office Of Antonio Martinez, Jr. P.C. SLATER PARK: Claims to be Paid from Net Revenue ----------------------------------------------- Slater Park, LLC, and affiliates filed with the U.S. Bankruptcy Court for the Northern District of Georgia an Amended Joint Disclosure Statement for the Joint Plan of Reorganization dated August 4, 2025. The Debtors are affiliated entities that are part of a hospitality group that owns and operates restaurants, amusements, bars, and event space on the rooftop of Ponce City Market commonly known as Skyline Park, Nine Mile Station, RFD Social, and the Terrace since 2018 (the "Businesses"). Amanda and Kelvin Slater (the "Slaters") are members of each Debtor – Park, Tower, Restaurant, and Events. Brett Hull-Ryde who acts as the chief financial officer for the Businesses is not a member of the Debtors. The Slaters and Hull Ryde are each a member of Slater Hospitality, LLC ("Hospitality"). The Plan provides for one class of unsecured creditors: Class 3 consists of the General Unsecured Creditors. Debtors assert that the only general unsecured creditors in this class are Allowed Unsecured Claims of taxing authorities that will be paid over twenty-four months from Debtors' net revenue in twenty-four monthly payments beginning on the last day of the first month following the Effective Date. These unsecured creditors, if any, will be paid from Debtors' net revenue. Class 1 consists of the United States Small Business Association (the "SBA") Allowed Secured Claims of SBA which shall be paid from Debtors' income according to the terms of the respective loan documents. Class 2 consists of the Allowed Arrearage Claim of Jamestown which shall be paid from Debtors' income according to the terms of the Letter Agreement and the Plan. If a conflict arises between the Plan and the Letter Agreement, the Letter Agreement shall control. Class 3 consists of the Allowed General Unsecured Claims which shall be paid from Debtors' income according to the terms of the Plan. Debtor asserts that the only possible unsecured claims are those of the taxing authorities, if any. Class 4 consists of the Disputed Unsecured Claim of Choate to which Debtors have filed objections. Debtors' Plan provides for no distribution to Choate. Class 5 consists of the Equity Holders who will not receive any distributions under the Plan but will retain their employment positions with Debtor and shall continue to receive salaries as follows: Further, the Slaters shall retain their member interests in Debtors and Hospitality. HullRyde shall retain his member interest in Hospitality. The Slaters own 100% of the member interests in Park, Tower, Restaurant, and Events. Hull-Ryde owns a 19%-member interest in Hospitality and the Slaters each own a 40.5%-member interest in Hospitality. Amanda Slater shall continue to receive. Kelvin Slater shall continue to receive. Hull-Ryde shall continue to receive. Class 3 consists of General Unsecured Creditors (the "GUCs"). The Debtors believe that the only general unsecured creditor claims, if it at all, may be the general unsecured claims of Internal Revenue Service. The Schedules and Statement of Financial Affairs filed on December 16, 2024 for Park, Tower, Restaurant, and Events listed unsecured creditors but Debtors have paid these creditors in full during the course of the bankruptcy cases. Those unsecured creditors who filed proofs of claim in each case and have been paid in full shall withdraw their proof of claim prior to the confirmation hearing on the Plan or Debtors shall object to the claims. Class 3 Claims, if any, shall be paid from Debtors' net revenue in twenty-four equal payments beginning on the last day of the first month following the Effective Date. Distributions and payments under the Plan, the SBA Loans and the Jamestown Arrearage Claim shall be paid from Debtors' revenue as indicated on the projected budget. A full-text copy of the Amended Joint Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=GmZx5h from PacerMonitor.com at no charge. About Slater Park Slater Park, LLC, owns and operates two bars and interactive amusements on the rooftop at the Premises that is commonly known as Skyline Park in Atlanta, Ga. Slater Park filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 24-21491) on Nov. 22, 2024, listing up to $10 million in both assets and liabilities. Brett Hull-Ryde, chief executive officer, signed the petition. Judge James R. Sacca oversees the case. The Debtor is represented by: Ceci Christy, Esq. William A. Rountree, Esq. Rountree Leitman Klein & Geer, LLC Tel: 404-584-1238 cchristy@rlkglaw.com wrountree@rlkglaw.com SOLAR MOSAIC: States Oppose Sale of Consumer Credit Contracts ------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that 25 states and Washington, D.C., are challenging bankrupt Solar Mosaic LLC's plan to sell consumer credit contracts, citing investigations into alleged deceptive and fraudulent servicing practices. In a Monday, August 11, 2025, filing with the U.S. Bankruptcy Court for the Southern District of Texas, the states argued that any sale must comply with a rule requiring buyers of such contracts to remain liable for related claims and defenses under the Truth in Lending Act. Several states have active civil probes and lawsuits accusing the solar financier of false marketing, deceptive lending, and other misconduct. About Solar Mosaic Mosaic is an industry-leading fintech platform for sustainable home improvements. Founded in 2010, Mosaic is a pioneer in clean energy lending providing innovative solutions for financing solar, battery storage, and more. Mosaic has funded $15 billion in loans to date, helping more than 500,000 households make their homes more sustainable and efficient. On June 6, 2025, Mosaic Sustainable Finance Corporation and four affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90156). The cases are pending before the Honorable Christopher M. Lopez. The Company tapped Paul Hastings LLP as legal counsel, BRG for managing director Mark A. Renzi as chief restructuring officer, and C Street Advisory Group as strategic communications advisor. Kroll, formerly Prime Clerk LLC, is the claims agent. Blank Rome LLP is serving as legal counsel and Huron Consulting Group is serving as financial advisor to Forbright Bank. SOUTHWEST FT WORTH: Files Amendment to Disclosure Statement ----------------------------------------------------------- Southwest Ft Worth Memory Care, LLC and Cypresswood Spring Memory Care, LLC, submitted a First Amended Joint Disclosure Statement for the First Amended Joint Plan of Reorganization dated August 4, 2025. The Debtors recently retained the services of Senior Living Investment Brokerage to provide a broker's opinion of value for the Properties. The Brokerage valued the Property owned by Southwest at a range at $1,900,000 to $2,470,000 million, and the Property owned by Cypresswood at a range of $1,600,000 to $2,200,000. The (i) the principles and methods the broker used to evaluate the Facilities, (ii) the date the Brokerage Opinion was rendered, (iii) who paid the broker to render the opinion of value, and (iv) what were the terms of the engagement are all part of the opinions and/or can be obtained from the broker. Debtors have no objections to these inquiries by interested parties. Mitch Warren has no relationship with the broker. In a Chapter 7 liquidation Secured Claims would be paid only in part and Unsecured Claims would receive nothing. Under this Plan, however, All Allowed Secured Claims will be paid in full with interest and Unsecured Creditors will receive a Pro Rata share of a pool of funds contributed by the Debtors. Therefore, Creditors will receive at least as much under this Plan as they would in a Chapter 7 liquidation. With approval of the Court, J&M Family Management, LLC has loaned the Debtors the following post-petition amounts for payroll expenses, for which J&M may seek reimbursement as Administrative Claims: Southwest FW Memory Care: $41,513.45 and Cypresswood Springs Memory Care: $45,181.67. The Amended Disclosure Statement does not alter the proposed treatment for unsecured creditors and the equity holder: * Class 4 consists of Allowed Unsecured Claims. These Claims shall be satisfied by the a) Debtor's monthly distribution of each Claimant's Pro Rata share of a pool of $2,500.00 per month to be contributed each month by the Debtor for a period of 60 months from the Effective Date and b) a Pro Rata distribution of the Cash Bid proceeds of the Equity Auction, payable on the Effective Date. These Claims are Impaired, and the holders of these Claims are entitled to vote to accept or reject the Plan. * Class 5 consists of Southwest Equity Interests. Equity Interests in the Debtor shall be cancelled on the Effective Date. New equity interests constituting 100% of the equity ownership of the Debtor shall be issued to the winning bidder at the Equity Auction. These Interests are Impaired and are deemed to have rejected the Plan. * Class 7 consists of Cypresswood Allowed Unsecured Claims. These Claims shall be satisfied by a) the Debtor's monthly distribution of each Claimant's Pro Rata share of a pool of $1,500.00 per month to be contributed each month by the Debtor for a period of 60 months from the Effective Date, and b) a Pro Rata distribution of the Cash Bid proceeds of the Equity Auction, payable on the Effective Date. These Claims are Impaired, and the holders of these Claims are entitled to vote to accept or reject the Plan. * Class 8 consists of Cypresswood Equity Interests. Equity Interests in the Debtor shall be cancelled on the Effective Date. New equity interests constituting 100% of the equity ownership of the Debtor shall be issued to the winning bidder at the Equity Auction. These Interests are Impaired and are deemed to have rejected the Plan. The Debtors will use the net revenue derived from their business operations to make the payments required under the Plan. The Debtors' financial projections indicate that the Debtors’ net revenue will not fully fund the Plan payments. All shortfalls in the Debtors' net revenue necessary to fund the Plan payments will be funded by the winning bidder at the Equity Auction for each Debtor. J&M Family Management, LLC (the non-equity manager of the Debtors' operations) or its assigns has agreed to serve as the stalking horse bidder at the Equity Auctions. J&M has further agreed as part of its opening bid to contribute funds as may be necessary to ensure that all Plan payments will be made on a timely basis. J&M will provide financials evidencing its ability to perform prior to Confirmation. A full-text copy of the First Amended Joint Disclosure Statement dated August 4, 2025 is available at https://urlcurt.com/u?l=gc3ErW from PacerMonitor.com at no charge. Counsel to the Debtor: Joyce W. Lindauer, Esq. Joyce W. Lindauer Attorney, PLLC 1412 Main Street, Suite 500 Dallas, TX 75202 Tel: (972) 503 4033 Fax: (972) 503-4034 About Southwest Ft Worth Memory Care Southwest Ft Worth Memory Care, LLC, doing business as Autumn Leaves of Cityview, is a U.S. senior-living operator that specializes exclusively in assisted-living and stand-alone communities for residents with Alzheimer's disease and other forms of dementia. Headquartered in Grapevine, Texas, Southwest designs, owns or manages purpose-built "Autumn Leaves" communities in Texas and Illinois, offering 24-hour nursing, dementia-trained staff, "Inspired Connections" life-engagement programs and on-site dining, salon and rehab services. Southwest sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-41419) on April 23, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Judge Mark X. Mullin handles the case. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC is the Debtor's legal counsel. PSF II Dutch Branch, LLC, as secured lender, is represented by: Kevin M. Lippman, Esq. Munsch Hardt Kopf & Harr, P.C. 500 N. Akard Street, Suite 4000 Dallas, TX 75201-6659 Telephone: (214) 855-7565 Facsimile: (214) 978-5335 klippman@munsch.com SPIRIT AIRLINES: Cash Shortfall Prompts Going Concern Alert ----------------------------------------------------------- Steven Church and Mary Schlangenstein of Bloomberg News report that Spirit Airlines cautioned that its survival is at risk if it cannot secure cash quickly to meet creditor requirements. The warning, outlined in its latest shareholder report, comes five months after the airline trimmed debt and exited bankruptcy oversight with plans to regain profitability. In a filing with the U.S. Securities and Exchange Commission, Spirit said inadequate cash reserves could lead to debt covenant breaches and a chain of defaults that may jeopardize the company's future. Management said there is "substantial doubt" about its ability to continue as a going concern. About Spirit Airlines Spirit Airlines, Inc. (SAVE) is a low-fare carrier committed to delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout the United States, Latin America and the Caribbean with its Fit Fleet, one of the youngest and most fuel-efficient fleets in the U.S. On the Web: http://wwww.spirit.com/ Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 24-11988) on Nov. 18, 2024, after reaching terms of a pre-arranged plan with bondholders. At the time of the filing, Spirit Airlines reported $1 billion to $10 billion in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtors tapped Davis Polk & Wardwell, LLP as legal counsel; Alvarez & Marsal North America, LLC, as financial advisor; and Perella Weinberg Partners LP as investment banker. Epiq Corporate Restructuring, LLC, is the claims agent. Paul Hastings, LLP and Ducera Partners, LLC serve as legal counsel for the Ad Hoc Group of Convertible Noteholders. Akin Gump Strauss Hauer & Feld, LLP and Evercore Group LLC represent the Ad Hoc Group of Senior Secured Noteholders. The official committee of unsecured creditors retained Willkie Farr & Gallagher LLP as counsel. Citigroup Global Markets, Inc., is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to Frontier. STAFFING 360: Court Imposes Stock Trading Requirements ------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of North Carolina entered an order requiring person or entities that are or are to become substantial equity holders (i.e., owners of at least 4.75% of the common stock of Staffing 360 Solutions Inc.) to provide certain notices in connection with any transfer of the Debtor's stock. The order also requires that those parties to provide notice prior to effectuating any transfer oof claims greater than $100,000. More information about the Court-ordered notice requirements and the impact of trading stocks and claim can be found at https://bernsteinlaw.sharefile.com/d-sccea648ead3943968b5e6db45f551629 or contacting Kirk B. Burkley at kburkley@bernsteinlaw.com or 412-456-8100. About Staffing 360 Solutions Inc. Staffing 360 Solutions Inc. focuses on acquiring and integrating established U.S.-based staffing firms across sectors such as accounting and finance, IT, engineering, administration, and light industrial. Staffing 360 Solutions Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01684) on May 5, 2025. In its petition, the Debtor reports $57.1 million in assets and $78 million in liabilities. The Debtor is represented by Rebecca Redwine Grow, Esq. at Hendren, Redwine & Malone, PLLC. TALKTALK GROUP: Weil Advises Ares on New Funding Facilities ----------------------------------------------------------- Weil advised funds managed by Ares Management as the lender and shareholder on the provision of GBP100 million of new funding facilities to TalkTalk Group. TalkTalk Group, the UK's leading value for money connectivity provider, secured the new funding alongside approximately GBP50 million non-core asset sales and amendments to existing debt facilities, enhancing the group’s funding capacity by over GBP200 million. The new funding will strengthen the group's working capital position and support investment in its two businesses: PXC and TalkTalk. PXC is focused on delivering a next-generation all-IP product set and driving operational efficiencies across its network and IT operations. The TalkTalk consumer business is investing in a new and differentiated product offering focused on in-home WiFi coverage. The Weil team was led by Restructuring partner Matt Benson and Finance partner Alastair McVeigh, together with partners Andy Hagan and Simon Lyell, supported by counsel Marcus Chaplin-Roberts, Jack Gray and Max Frolov and associates Saahil Sheth, Hongbei Li and Adebayo Lanlokun. We also advised Ares as PIK lender and minority shareholder in the refinancing of TalkTalk in December 2024. As reported by the Troubled Company Reporter-Europe on Aug. 7, 2025, S&P Global Ratings lowered its long-term issuer credit rating on TalkTalk Telecom Group Ltd. (TalkTalk) and its issue rating on its senior secured debt to 'CCC-' from 'CCC+'. The '2' recovery rating on the company's first-lien debt is unchanged, indicating its expectations of 70% (rounded estimate) recovery prospects in the event of payment default. The negative outlook reflects S&P's view that a distressed debt restructuring or liquidity crisis is likely in the next few months, absent any favorable developments. TEAM CHAMPIONS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Team Champions, Inc. 685 Helen Drive Northbrook, IL 60062 Business Description: Team Champions, Inc. is a trucking company based in Northbrook, Illinois that provides interstate freight transportation services across the United States, operating a fleet of heavy-duty Freightliner trucks and flatbed trailers to haul general freight, construction materials, and industrial equipment. The Company serves a variety of sectors requiring long-haul and regional deliveries, including goods that can be transported on open flatbeds such as steel, lumber, and machinery. It is registered with the U.S. Department of Transportation as an interstate motor carrier and maintains a sizable fleet with dozens of tractors and trailers. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 25-12121 Judge: Hon. Michael B. Slade Debtor's Counsel: David Freydin, Esq. LAW OFFICES OF DAVID FREYDIN 8707 Skokie Blvd., Suite 305 Skokie, IL 60077 Tel: 888-536-6607 Fax: 866-575-3765 E-mail: david.freydin@freydinlaw.com Total Assets: $2,930,099 Total Liabilities: $5,791,657 The petition was signed by Nazar Trukhan 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/6IILI4Y/Team_Champions_Inc__ilnbke-25-12121__0001.0.pdf?mcid=tGE4TAMA TECH RABBIT: Unsecureds Will Get 25% of Claims over 60 Months ------------------------------------------------------------- Tech Rabbit Inc. filed with the U.S. Bankruptcy Court for the Northern District of California a Plan of Reorganization for Small Business under Subchapter V dated July 30, 2025. The Debtor is a corporation. Since 2016, the Debtor has been in the business of Software, Consulting, and Managed Services. The Debtor's financial projections show that the Debtor will have projected disposable income of $406,200.00. The final Plan payment is expected to be paid on September 1, 2030, which is anticipated to be 60 months after the effective date. Class 2 consists of Non-priority unsecured creditors. This Class shall receive a dividend of 25% will be paid on Class 2 claims with 60 monthly payments of $5,790.00 to the class. The allowed unsecured claims total $1,389,754.00. Class 3 consists of Equity security holders of the Debtor. Equity security holders' charges will be unaffected. The Debtor will commence making monthly payments to creditors under the Plan from cash flow and from working capital, as necessary. Debtor is profitable and expects to be able to make all payments. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=QUuIsB from PacerMonitor.com at no charge. Counsel to the Debtor: David C. Johnston, Esq. 1600 G Street, Suite 102 Modesto, CA 95354 Tel: (209) 579-1150 Fax: (209) 900-9199 About Tech Rabbit Inc. Tech Rabbit Inc., formerly doing business as Tech Firefly, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-50353) on March 14, 2025. At the time of the filing, the Debtor reported between $100,001 and $500,000 in assets and between $500,001 and $1 million in liabilities. Judge Stephen L. Johnson oversees the case. The Law Offices of David C. Johnston, is the Debtor's bankruptcy counsel. THE BURGUNDIAN: Court Extends Cash Collateral Access to Oct. 5 -------------------------------------------------------------- The Burgundian, LLC got the green light from the U.S. Bankruptcy Court for the District of Massachusetts, Eastern Division, to use cash collateral held or restrained by secured creditors Elevation Capital Group, LLC and Samson MCA, LLC. The court authorized the Debtor's use of cash collateral through October 5, which includes proceeds of accounts receivable and cash on hand in accordance with the Debtor's budget. Funds must be used within the limits of the approved budget, with a 10% margin allowed. As protection for any diminution in the value of their cash collateral, the secured creditors will have replacement liens and security interests. If provided in a final order, the Debtor will make monthly payments of $588 and $687 to Elevation and Samson, respectively, as protection. The court ordered both secured creditors to release restraints on all accounts receivable generated on or after June 24, and Block Inc. and Toast Inc., the Debtor's point-of-sale processors, to remit 100% of all proceeds from such receivables to the Debtor. The court also ordered Elevation to release the restraint on $20,000 of accounts receivable and Samson on $5,000 of accounts receivable generated prior to June 24, with the proceeds to be remitted to the Debtor through its point-of-sale processors. The next hearing is set for October 1. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/UFm62 from PacerMonitor.com. About The Burgundian LLC The Burgundian LLC operates a restaurant in Attleboro, Massachusetts. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11287) on June 24, 2025. In the petition signed by Shane T. Matlock, manager, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Christopher J. Panos oversees the case. David B. Madoff, Esq., at Madoff and Khoury LLP, represents the Debtor as legal counsel. THUNDER RIDE: Hires Elementary Business as Financial Advisor ------------------------------------------------------------ Thunder Ride Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Elementary Business, Inc. as financial advisor. The firm will provide these services: a. advise the Company with respect to the terms and timing of any transaction associated with the Reorganization; provided, however, that the Company shall retain its own legal counsel and accountants for legal, accounting and tax advice; b. assist the Company in preparing any required documents to the extent that such documents relate to the terms of a Transaction; c. assist in the formulation of a plan or plans of reorganization; d. assist in the negotiation and implementation of a plan or plans of reorganization; e. assist in the development of a business plan; f. perform valuations of the Company's assets and/or securities; g. render expert testimony that is reasonably necessary to support the feasibility of a plan or plans of reorganization, or, upon the Company's request, testimony regarding any other matter reasonably related to the implementation of the Reorganization; h. draft monthly operating reports; i. communications with bankruptcy counsel as needed; j. assist in preparing financial reports; k. perform such other tasks as requested by the Company that are consistent with the foregoing duties. Neil Goldstein, principal of Elementary Business, Inc., will lead the engagement. Mr. Goldstein shall receive an hourly rate of $350. Elementary Business, Inc. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Neil Goldstein ELEMENTARY BUSINESS, INC. 130 W Union St. Pasadena, CA 91103 Telephone: (940) 808-9451 E-mail: neil@elementarybusiness.com About Thunder Ride Inc. Thunder Ride Inc., doing business as Tri-City Cycle, operates a powersports dealership offering motorcycles, ATVs, UTVs, boats, parts, and repair services. The Company serves customers in Loveland, Colorado, and surrounding areas. It also provides products from major brands such as Yamaha, Honda, Kawasaki, and KTM. Thunder Ride Inc. in Loveland, CO, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Colo. Case No. 25-14589) on July 23, 2025, listing $50,000 to $100,000 in assets and $10 million to $50 million in liabilities. Enoch Amoah as president, signed the petition. Judge Joseph G. Rosania Jr. oversees the case. WADSWORTH GARBER WARNER CONRARDY, P.C. serve as the Debtor's legal counsel. TORPAGO INC: Priority Tech to Hold Public Sale on August 18 ----------------------------------------------------------- Priority Tech Ventures LLC ("lender") will conduct a sale and disposition of certain assets owned by Torpago Inc. ("borrower") on Aug. 18, 2025, at 10:00 a.m., at the offices of Maynard Nexsen PC, 1901 6th Avenue N., Ste. 1700, Birmingham, Alabama 35203. The property to be sold is the collateral pledged by the borrower to secure repayment of its indebtedness to lender under the loan documents, and may include, but is not limited to, any of borrower's investment property, equipment, inventory, intellectual property, chattel paper, accounts, and general intangibles. Secured promissory term note dated July 29, 2022, in the original principal amount of $2,500,000 given by Torpago Inc. to Priority Tech Venture LLC, as successor by assignment to First Fed Bank, evidencing that certain term loan in the original principal amount of $2,500,000 extended by lender to borrower on or about July 29, 2022 ("loan"). Borrower is entitled to an accounting of the unpaid indebtedness secured by the collateral that lender intends to sell. An accounting may be requested by contacting Ryan D. Thompson, at Maynard Nexsen PC by email at rthompson@maynardnexsen.com. Any questions concerning the sale, must contact Ryan D. Thompson, at Maynard Nexsen PC by email at rthompson@maynardnexsen.com, (205) 254-1000. Torpago -- https://www.torpago.com -- is a financial technology company that provides corporate cards equipped with spend management software. TRILLER HOLD: Yorkville to Sell Three Million BKFC Shares on August ------------------------------------------------------------------- YA II PN Ltd. c/o Yorkville Advisor Global LP ("secured party") is selling, by public disposition, a portion of the the secured party's collateral consisting of 3,000,000 shares of common stock in Bare Knuckle Fighting Championships Inc. (BKFC), to collect an unpaid commercial business indebtedness owed by Triller Hold Co LLC ("Debtor") to the secured party. The 3,000,000 shares represent an approximately 20% of undiluted interest in BKFC. The public auction will be held on Aug. 25, 2025, at 10:00 a.m. ET. Qualified bidders may attend the sale (i) virtually through a video conference platform which will be made available to qualified bidders by contacting the agent, or (ii) in person at the New York Offices of DLA Piper LLP (US), located at 1251 Avenue of the Americas, 27th Floor, New York, NY 10020. The deadline for qualified bidders to submit a bid is Aug. 22, 2025, at 10:00 a.m. ET. The agent for the secured party conducting the sale is: Hilco IP Services LLC dba Hilco Streambank Attn: Richelle Kainit Paul Gleason 1500 Broadway, 26th Floor New York, NY 1003 Tel: (212) 993-7214 Email: rkainit@hilcoglobal.com pgleason@hilcoglobal.com The secured party's interest in the Debtor's property is perfected by certain UCC financing statements filed with the Delaware Secretary of State and possession of the applicable stock certificate. The total amount due to secured party pursuant to the loan documents is approximately $42 million. Triller Hold Co LLC engages in online video, social media, and combat sports. TYLER 2: Creditor Seeks to Prohibit Cash Collateral Access ---------------------------------------------------------- Metro Woodcrafter of NC, Inc. asked the U.S. Bankruptcy Court for the Western District of North Carolina, Charlotte Division, to prohibit Tyler 2 Construction, Inc. from using cash collateral. Metro was a subcontractor for the Debtor on three projects -- First Horizon Bank, First Bank Interior Renovation, and Legacy Union -- and is currently owed a total of approximately $82,109. The creditor objected to the Debtor's use of any cash proceeds derived from these projects, asserting a lien on those funds under North Carolina lien law. It believes the Debtor intends to continue work on at least two of these projects and wants to ensure that its lien rights are protected. Metro requested that any court order authorizing the use of cash collateral either (1) require the Debtor to pay Metro's lien amounts or (2) segregate all funds received from these projects into a separate escrow account, rather than allowing their use in the general debtor-in-possession account. 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 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 reported total assets of $9,819,766 and total liabilities of $5,762,398. Honorable Bankruptcy Judge Ashley Austin Edwards handles the case. The Debtor is represented by Richard S. Wright, Esq. at MOON WRIGHT & HOUSTON, PLLC. Metro Woodcrafter of NC, Inc., as lender, is represented by: John C. Woodman, Esq. Essex Richards, P.A. 1701 South Boulevard Charlotte, NC 28203 Telephone: (704) 377-4300 jwoodman@esscxrichards.com UPBOUND GROUP: Moody's Rates New $1.1BB First Lien Term Loan 'Ba2' ------------------------------------------------------------------ Moody's Ratings assigned a Ba2 rating to Upbound Group, Inc.'s proposed new $1.1 billion senior secured first lien term loan B due 2032. Upbound's existing ratings are unchanged, including its Ba2 corporate family rating, Ba2-PD probability of default rating, Ba2 senior secured first lien term loan rating, B1 senior unsecured notes rating, and SGL-3 speculative grade liquidity rating (SGL). The outlook remains unchanged at negative. Proceeds from Upbound's proposed $1.1 billion term loan will be used to refinance its existing $798 million (outstanding) term loan due February 2028 and pay down $302 million outstanding on its $550 million asset based revolving credit facility (ABL) revolver due June 2029. ABL borrowings primarily reflect the cash consideration paid for the Brigit acquisition which was completed on January 31, 2025. RATINGS RATIONALE Upbound's Ba2 CFR is supported by the company's solid position in the consumer rent-to-own industry, conservative leverage target, and Moody's expectations for customer non-performance metrics to remain relatively stable over the next 12-18 months. The company is continuing to focus on rapidly growing its lease portfolio, primarily on the Acima side, after material declines in the 2022-2023 period which is resulting in strain on free cash flow generation because of higher working capital investment to support the growth. LTM Q2 2025 debt/EBITDA is approximately 3.5x while EBITA/interest coverage is approximately 2.7x. Moody's expects leverage to be about 3.4x at year-end 2025 as Brigit's loan book grows which requires modest ABL funding but to decline to about 3.1x in 2026 as Brigit's revenues and earnings build. As is reflected in the negative outlook, recovery in EBITA/interest coverage to within Moody's expectations for the Ba2 CFR will take longer than Moody's initially expected with the metric recovering to 3.25x in 2026. LTM Q2 2025 free cash flow (CFO-CAPEX-Dividends) is $47 million, which is improving and up from FY 2024 free cash flow of -$34 million, but the pace of further improvement will be constrained by lease portfolio growth at Acima and related upfront working capital investment to support that growth. For comparison, historical free cash flow has been in the $150-$200 million range on an annual basis (on a smaller base of revenue and earnings). Moody's continues to expect full-year 2025 free cash flow to be approximately $100 million and full-year 2026 free cash flow to be approximately $150 million. The Ba2 CFR is constrained by risks associated with virtual lease-to-own, including the volatile customer non-performance risk inherent in the model. More generally, the Ba2 CFR is constrained by moderate business risks associated with the rent-to-own industry because of its focus on cash and credit constrained consumers, which could give rise to increased consumer activism and societal or governmental pressure that leads to legislative changes or litigation. While Brigit's consumer lending model is short-term and subscription-based, Moody's believes the addition of consumer lending capabilities could open the door to heightened consumer regulatory risk and related litigation. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING Rating could be downgraded if Upbound experiences any material unexpected issues, particularly in the Acima or Brigit segments, or declines in its core Rent-A-Center business, if liquidity were to materially weaken or if free cash flow does not strengthen to a level commensurate with the company's current and expected revenue and earnings scale. Specific metrics include debt/EBITDA sustained above 3.75x, EBITA/interest sustained below 3.25x, or annualized free cash flow sustained below the $150-$200 million range. A rating upgrade is unlikely over the intermediate term. However, over the long term, the rating could be upgraded if Upbound demonstrates that it can sustainably grow revenue and profitability while effectively managing higher default risk associated with the virtual lease-to-own portfolio and the potential for heightened regulatory risks related to Brigit's consumer lending business. An upgrade would also require consistent strong free cash flow generation beyond historical levels, a sustained reduction of debt and leverage levels, and stability in its core operating performance including low variability in customer non-performance metrics. Quantitatively, the rating could be upgraded if the company demonstrates that debt/EBITDA can be sustained below 2.25x and EBITA/interest coverage can be sustained above 5x through an industry cycle. Headquartered in Plano, Texas, Upbound Group, Inc. is a leading provider of technology driven, flexible, no debt obligation leasing solutions. Its omni-channel model utilizes proprietary data and technology to facilitate transactions across a wide range of retail channels including its Acima virtual lease-to-own platform, Rentacenter.com, e-commerce partner platforms, and partner retail stores. In January 2025, Upbound acquired Brigit, a provider of liquidity, budgeting and financial literacy resources. Revenue was approximately $4.5 billion for the LTM period ending June 30, 2025. The principal methodology used in this rating was Retail and Apparel published in November 2023. VARSOBIA HOME: Hires Michael G. Spector as Bankruptcy Counsel ------------------------------------------------------------- Varsobia Home Builders, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Law Offices of Michael G. Spector as attorneys. The firm will render these legal services: (a) prepare pleadings, applications and conduct examinations incidental to administration; (b) advise the Debtor with respect to its rights, duties and powers in the administration of its Chapter 11 case; (c) advise and assist the Debtor with respect to compliance with the requirements of the Office of the U.S. Trustee; (d) advise the Debtor regarding matters of bankruptcy law; (e) advise and represent the Debtor in connection with all applications, motions or complaints for adequate protection, sequestration, relief from stays, appointment of a trustee or examiner and all other similar matters; (f) develop the relationship of the status of the Debtor to the claims of creditors in these proceedings; (g) advise and assist the Debtor in the formulation and presentation of a reorganization plan; (h) represent the Debtor in any necessary adversary proceedings; and (i) perform other legal services. The hourly rates of the firm's attorneys and staff are as follows: Michael G. Spector, Attorney $490 per hour Vicki L. Schennum, Of Counsel $460 per hour Law Clerk $110 per hour Brittany Porter, Paralegal $100 per hour The firm received a retainer in the amount of $30,000. Michael Spector, Esq., the proprietor of the Law Offices of Michael G. Spector, disclosed in a court filing that his firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael G. Spector, Esq. Law Offices of Michael G. Spector 2122 N. Broadway Santa Ana, CA 92706 Telephone: (714) 835-3130 Facsimile: (714) 558-7435 Email: mgspector@aol.com About Varsobia Home Builders Varsobia Home Builders, LLC is a residential construction company based in Van Nuys, California. It focuses on building single-family homes, townhouses, and mixed-use developments across California and Nevada. The Company operates as part of the Varsobia Group of Companies, which includes subsidiaries in real estate, property preservation, and support services. Varsobia Home Builders sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11219) on July 9, 2025, with $1 million to $10 million in assets and liabilities. Angelo Varsobia, manager, signed the petition. Michael G. Spector, Esq., at the Law Office of Michael G. Spector represents the Debtor as bankruptcy counsel. VEGAS CUSTOM: Seeks to Hire Leavitt Legal as Legal Counsel ---------------------------------------------------------- Vegas Custom Glass LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to hire law practitioner James T. Leavitt of Leavitt Legal Services, P.C. to serve as legal counsel in its Chapter 11 Subchapter V case. Mr. Leavitt will provide these services: (a) aid the Debtor in filing the necessary documents required in a Chapter 11 proceeding, including schedules, disclosure statements, and plan; (b) aid the Debtor in determining what is best for the estate; (c) institute, prosecute, or defend any lawsuits in which the Debtor may be a party; and (d) perform all other legal services necessary in connection with the bankruptcy case. Mr. Leavitt shall receive compensation at an hourly rate of $500, with a $25,000 retainer paid from the Debtor's corporate funds, plus a $1,738 filing fee. Leavitt Legal Services, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: James T. Leavitt, Esq. LEAVITT LEGAL SERVICES, P.C. 601 South 6th Street Las Vegas, NV 89101 Telephone: (702) 385-7444 Facsimile: (702) 385-1178 E-mail: jamestleavittesq@gmail.com | leavittecf@gmail.com About Vegas Custom Glass LLC Vegas Custom Glass, LLC provides glass and mirror services in Las Vegas, Nevada. The Company offers custom showers, frameless shower doors, storefront glass, glass repairs, and wine room enclosures for residential and commercial clients. It is licensed, bonded, insured, and accredited by the Better Business Bureau. Vegas Custom Glass, LLC in Las Vegas, NV, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Nev. Case No. 25-13929) on July 9, 2025, listing $298,039 in assets and $1,205,768 in liabilities. Vincent Regala as owner, signed the petition. LEAVITT LEGAL SERVICES, P.C. serve as the Debtor's legal counsel. VERTIV GROUP: Moody's Raises CFR to Ba1 & Alters Outlook to Stable ------------------------------------------------------------------ Moody's Ratings upgraded the ratings of Vertiv Group Corporation (Vertiv), including the corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD. Moody's also upgraded the ratings on the company's senior secured notes and senior secured first lien term loan B to Ba1 from Ba2. At the same time, Moody's assigned a Ba1 rating to Vertiv's proposed $2.09 billion senior secured first lien term loan B maturing in August 2032. The outlook was changed to stable from positive. The SGL-1 speculative grade liquidity rating remains unchanged. Vertiv intends to use the proceeds from the new senior secured term loan to refinance its existing $2.09 billion senior secured first lien term loan B due in March 2027. Therefore, the refinancing transaction will not increase total debt. The rating on the existing term loan will be withdrawn at the close of the transaction. The upgrade of the ratings reflects Moody's expectations that the improvement in Vertiv's credit metrics will be sustained and continue to strengthen over the next 12 months, driven by revenue growth and higher earnings. Robust demand for its products to support the strong growth in data centers will drive solid organic revenue and earnings growths, resulting in strong free cash flow. The stable outlook reflects Moody's expectations that Vertiv's leverage will decrease further over the next 12-18 months underpinned by higher earnings. Revenue growth will come from both increasing volumes and pricing while profit margin will improve from strong cost and expense controls. Moody's also expects the company to maintain very good liquidity and a measured approach to shareholder returns and acquisitions. RATINGS RATIONALE Vertiv's ratings reflect the company's geographic diversification and increasing scale in the rapidly growing data center power and thermal management market. The growth is driven by increasing digitization, artificial intelligence (AI) and high performance computing. Therefore, demand for cloud/hyperscale and co-location products will remain robust to support the data center growth. Pricing initiatives, operational leverage and productivity improvements will drive margin expansion. Moody's expects organic revenue growth of about 16% per year in the next 12-18 months. Further, the company's backlog has grown over the last 12 months and reached $8.5 billion at the end of June 2025, providing additional visibility into revenue growth for the next 12 months. The company also has low leverage and Moody's expects debt-to-EBITDA to decrease to 1.3x over the next 12-18 months. Further, Vertiv's EBITA-to-interest expense will improve to 15x over the next 12-18 months. However, demand from telecom customers remains soft, increasing reliance on the data center market. Growing manufacturing capacity to support strong customer demand will require significant capital investment and limit free cash flow. Vertiv has an all secured capital structure and is likely to be more shareholder friendly as free cash flow remains strong. Moody's expects Vertiv to maintain prudent financial policies as the company has a publicly stated net leverage target of 1-2x. However, Moody's believes that given its growing cash balance, the company will increasingly focus on shareholder initiatives, including dividends and share buybacks, and acquisitions. Vertiv's liquidity will remain very good over the next 12 months as reflected by its SGL-1 speculative grade liquidity rating. Liquidity is supported by Moody's expectations for free cash flow of more than $650 million over the next 12 months. Liquidity is further underpinned by ample availability on its $800 million asset-based lending (ABL). FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Vertiv continues to experience healthy organic revenue growth and margin expansion. Moody's would also expect a long term commitment by management to conservative financial policies, including steps to maintain stable credit metrics and a capital structure that allows for maximum financial flexibility. The ratings could be downgraded if debt-to-EBITDA is sustained above 3.0x or EBITA-to-interest expense is sustained below 6.0x. In addition, the ratings could be downgraded if the company makes a large debt financed acquisition, if its financial policy becomes increasingly aggressive, or liquidity weakens. The principal methodology used in these ratings was Manufacturing published in September 2021. Vertiv's Ba1 CFR is two notches below the Baa2 scorecard indicated outcome. The difference reflects Moody's views that the fully secured debt capital structure constrains financial flexibility. Vertiv Group Corporation ("Vertiv" or NYSE: VRT), headquartered in Westerville, Ohio, provides various infrastructure technologies and equipment for power and thermal management and infrastructure monitoring services used in data centers, communication networks, and commercial and industrial environments. VSBROOKS INC: Gets Interim OK to Use Cash Collateral Until Aug. 31 ------------------------------------------------------------------ VSBROOKS, Inc. got the green light from the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral until August 31 to pay the amounts expressly authorized by the court; the expenses set forth in the budget; and additional amounts subject to approval by City National Bank. As adequate protection for the Debtor's use of its cash collateral, City National Bank will have a replacement lien on all property acquired or generated by the Debtor after its Chapter 11 filing. This replacement lien will have the same priority and extent as the bank's pre-bankruptcy lien. The replacement lien will be junior to fees and costs awarded to bankruptcy professionals, according to the court order. The final hearing is scheduled for August 27. In 2023, the Debtor and City National Bank entered into a loan agreement backed by the U.S. Small Business Administration. The loan is secured by a blanket lien on all of the Debtor's assets as documented in a UCC-1 financing statement. The loan, originally in the principal amount of $2.5 million, has a remaining balance of approximately $2.39 million. About VSBROOKS Inc. VSBROOKS Inc., doing business as The 3rd Eye Creative Agency, is a certified women-owned independent full-service marketing agency in Miami specializing in health and wellness brands. With more than 25 years of experience, it focuses on generational healthcare advertising, women's healthcare initiatives, multicultural audience engagement and B2B growth within regulatory compliance. VSBROOKS sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18690) on July 29, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtor is represented by Robert P Charbonneau, Esq., at Agentis, PLLC. VSBROOKS INC: Seeks to Hire Agentis PLLC as Counsel --------------------------------------------------- VSBrooks, Inc., d/b/a The 3rd Eye Creative Agency, seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Agentis PLLC as counsel. The firm will provide these services: a. advise the Debtor with respect to its powers and duties as debtor-in possession and the continued management of his affairs; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the Court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d. protect the interests of the Debtor and the estate in all matters pending before the Court; and e. represent the Debtor in negotiations with creditors in the preparation of a plan. The firm will be paid at these rates: Attorneys $315 to $710 per hour Paralegals $130 to $255 per hour The firm will be paid a retainer of $50,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Charbonneau disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert P. Charbonneau, Esq. Agentis PLLC 45 Almeria Avenue Coral Gables, FL 33134 Tel: (305) 722-2002 Email: rpc@agentislaw.com About VSBrooks, Inc. d/b/a The 3rd Eye Creative Agency VSBROOKS Inc., doing business as The 3rd Eye Creative Agency, is a certified women-owned independent full-service marketing agency in Miami specializing in health and wellness brands. With more than 25 years of experience, it focuses on generational healthcare advertising, women's healthcare initiatives, multicultural audience engagement and B2B growth within regulatory compliance. VSBROOKS Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18690) on July 29, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtor is represented by Robert P Charbonneau, Esq. at AGENTIS PLLC. W.D. TOWNLEY: Hires Berkshire Group Limited as Financial Advisor ---------------------------------------------------------------- W.D. Townley and Son Lumber Company Inc. d/b/a Townley Lumber Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ The Berkshire Group Limited Partnership, as financial advisor. The firm's services include: a. preparing and assembling financial information and descriptive materials regarding the Debtors; b. assisting in the creation of a virtual data room for prospective acquirers; c. developing marketing materials and buyer-facing documents; d. identifying and soliciting prospective buyers for the business and/or discrete assets; e. coordinating confidentiality agreements and site visits; f. assisting in transaction structuring and negotiations; g. providing ongoing consultation to the Debtors and their counsel throughout the process; and h. providing other duties necessary to support a successful sale transaction. The firm has agreed to these terms of compensation and expense reimbursement: a. A non-refundable retainer of $75,000, with $45,000 payable upon court approval of this engagement and the balance payable within 30 days thereafter. The retainer is due regardless of whether any transaction is ultimately consummated and is nonrefundable. b. Ongoing fees at a discounted rate of $400 per hour, billed against the retainer and continuing after the retainer is exhausted. c. A success fee (the Sale Transaction Fee) incremental to the retainer and hourly fees, upon closing of any sale transaction(s), calculated as follows: i. 5 percent of gross sale proceeds up to $5,000,000 [subject to a minimum success fee of $250,000]; and ii. 6 percent of gross sale proceeds in excess of $5,000,000. d. The success fee structure shall be reduced by any hourly fees paid in excess of the $75,000 retainer. The success fee shall apply to the gross proceeds received by the Debtors or their Estates, without deduction for any debt, liens, or closing costs. Michael Trickey, CPA, a managing director of The Berkshire Group Limited Partnership, assured the court that the firm does not hold any interest adverse to the Debtors' estates; and is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy Code. The firm can be reached through: Michael W. Trickey The Berkshire Group Limited Partnership 553 Capital Drive Lake Zurich, IL 60047 Telephone: (847) 540-6554 Cellphone: (847) 867-3595 Email: mtrickey@bglp.com About W.D. Townley and Son Lumber Company Inc. d/b/a Townley Lumber Co. W.D. Townley and Son Lumber Company Inc. and affiliates operate a lumber milling business. Townley Lumber processes lumber used for pallet construction. TPM owns the property where the milling operations take place. TLC Transportation transports pallets in truckloads to customer locations. W.D. Townley and Son Lumber Company Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-41053) on March 26, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtor is represented by Joseph Fredrick Postnikoff, Esq. at ROCHELLE McCULLOGH, LLP. WATCHTOWER FIREARMS: Employs Ordinary Course Professionals ---------------------------------------------------------- Watchtower Firearms LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to retain and compensate various professionals in the ordinary course of business as part of its Chapter 11 case. The professionals and their services include: (a) FisherBroyles, a law firm, to handle trademark prosecution, defense, and other related intellectual property legal matters; (b) Kristen Bates / LEGIST, PLLC, a law firm, to provide litigation services in multiple district and county court matters, including arbitration; and (c) Lovelace Payne LLC, a CPA firm, to prepare and file 2024 tax returns, including K-1s, and potentially a short-year 2025 return. The professionals hold no interest adverse to the Debtor or its estate and qualify as disinterested persons under the Bankruptcy Code, according to court filings. Subject to a fee cap, the Debtor is authorized to pay: -- $15,000 to FisherBroyles -- $5,000 to Kristen Bates / LEGIST, PLLC -- $25,000 to Lovelace Payne LLC The firms can be reached at: FisherBroyles 25 Richmond Ave., Suite 1200 Houston, TX 77098 Telephone: (866) 211-5914 Email: info@fisherbroyles.com - and - Kristen Bates, Esq. LEGIST, PLLC 1525 Lake Front Circle, Suite 2 The Woodlands, TX 77380 Telephone: (713) 600-2727 E-mail: kb@legist.law - and - Lovelace Payne LLC 16200 Addison Road, Suite 200 Addison, TX 75001 Telephone: (972) 629-9164 About Watchtower Firearms LLC Watchtower Firearms LLC is a veteran-owned company offering a diverse range of firearms, including custom rifles, special edition rifles, and handguns. The Company serves military, law enforcement, hunting, and personal use markets. In addition to firearms, it provides suppressors, components, and specialized gear tailored to meet the needs of its customers. Watchtower Firearms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-40684) on February 27, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Judge Mark X. Mullin oversees the case. Joseph Acosta, Esq. at CONDON TOBIN represents the Debtor as counsel. WAYSTAR HOLDING: New $250MM Term Loan No Impact on Moody's 'B1' CFR ------------------------------------------------------------------- Moody's Ratings said that Waystar Technologies, Inc.'s proposed issuance of $250 million of additional backed senior secured first lien term loan due October 2029 is a negative credit development since it will raise debt leverage. However, as Moody's expects the company to reduce financial leverage over the next 12 to 18 months, the transaction has no impact on the ratings, including Waystar Holding Corp. (Waystar)'s B1 corporate family rating and the B1-PD probably of default rating. The B1 rating on the backed senior secured first lien bank credit facilities consisting of a revolving credit facility due 2028 and a term loan due 2029 at Waystar Technologies, Inc. are unchanged. The stable outlooks are also unchanged. On July 23, 2025, Waystar announced a definitive agreement to acquire 100% of Iodine Software (Iodine) from shareholders led by private equity firm Advent International, for a total enterprise value of $1.25 billion. Moody's expects the transaction will be funded with a 50/50 mix of cash and stock consideration. The proposed $250 million term loan will partially fund the acquisition with the remainder of the purchase consideration coming from a mix of cash on hand, revolver loans and equity. Moody's considers the news a negative credit development because the incremental debt increases financial leverage in the near term. Pro forma for the acquisition, Moody's estimates that Waystar's debt/EBITDA financial leverage will increase to around the mid-4.x from 3.4x for the 12 months ended June 30, 2025. Moody's estimates that the company will also require around $400 million from a combination of cash on hand and revolver draw to fund the remaining cash portion of the purchase price, which diminishes liquidity in the near term. Nonetheless, ratings are unaffected because Moody's expects that the company will be able to reduce financial leverage below 4x by the end of 2025 from a combination of earnings growth and debt repayment. Moody's anticipates the company will generate over $220 million of free cash flow with excess cash flow to be used towards repayment of any revolver borrowings. The company had $290 million of cash as of June 30, 2025. The transaction indicates high governance risk remains as it pertains to financial strategies and risk management given the increased financial leverage following the acquisition and the lack of a publicly stated financial leverage target. The acquisition is the company's first since its June 2024 IPO and suggests that Waystar's financial policies may favor debt-funded acquisitions and a willingness to increase debt/EBITDA to around 4x, even if only temporarily. The company has had a track record of reducing leverage following debt-funded acquisitions as a private company. Iodine is a private healthcare revenue cycle management IT software company with a focus on clinical documentation, utilization management, and pre-bill (prior to claim submission) services. Iodine's offerings are generally considered the "mid-cycle" of revenue cycle management workflow and could complement Waystar's existing suite of revenue cycle management offerings. Moody's expects the transaction to close by the end of 2025. Waystar is a provider of SaaS-based revenue cycle management services, focusing on healthcare claims management and patient payment solutions for physicians' offices, small hospitals, post-acute-care facilities, and dental offices and Medicare-related entities. The company generated roughly $1 billion in revenue for the 12 months ending June 30, 2025. WEABER INC: Hires Ciardi Ciardi & Astin as Bankruptcy Counsel ------------------------------------------------------------- Weaber Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to hire Ciardi Ciardi & Astin as counsel. The firm will provide these services: (a) give the Debtor legal advice with respect to its power and duties; (b) prepare on behalf of the Debtor any necessary legal papers; (c) perform all other legal services for the Debtor which may be necessary; and (d) prepare and file a Plan of reorganization. The firm's counsel and staff will be paid at these hourly rates: Albert A. Ciardi, III $625 per hour Jennifer C. McEntee $475 per hour NIcole M. Nigrelli $525 per hour Stephanie Frizlen, Paralegal $100 per hour Mr. Ciardi 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: Albert Ciardi, III, Esq. Ciardi Ciardi & Astin 1905 Spruce St. Philadelphia, PA 19103 Telephone: (215) 557-3550 Email: aciardi@ciardilaw.com About Weaber Inc. Weaber Inc. manufactures and distributes hardwood lumber products across the United States. Combining advanced production technology with strict quality standards, it supplies flooring, trim, paneling and other specialty hardwood components in both full-truckload and small-lot deliveries. Weaber Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-02167) on August 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Henry W. Van Eck handles the case. The Debtor is represented by Albert A. Ciardi, III, Esq. at CIARDI CIARDI AND ASTIN. WEST CENTRO: Amends Bank of America Secured Claim Pay Details ------------------------------------------------------------- West Centro, LLC submitted an Amended Combined Plan and Disclosure Statement dated July 31, 2025. This Plan is filed under chapter 11 of the Bankruptcy Code and proposes to pay creditors of the Debtor from cash flow from operations, an infusion of capital, litigation proceeds, and sale of assets. This Plan provides for three classes of secured claims; one class of unsecured claims; and one class of equity security holders. Unsecured creditors holding allowed claims will receive distributions, which the Debtor has valued at approximately 15 cents on the dollar. The financial forecast of the Debtor is based upon the funds generated from operation of the Debtor's business and assumes an occupancy rate of 92%. Cash distributions will come from current operations, Litigation Proceeds, and, if necessary, Equity infusions of capital. The Debtor's financial projections are based on rentals increasing during 2025, reaching a 100% occupancy rate by November 2025. The funds for the equity infusion will be obtained from distributions generated through the sale of property owned by a separate non-debtor entity of which JBIT is a member. On May 7, 2025, a Purchase and Sale Agreement was executed by both seller and purchaser. The only contingencies of the sale are due diligence and inspections, with the majority of due diligence and inspections already completed. The executed Purchase and Sale Agreement does not contain any financing contingencies. Thomas Carlotto, counsel for JBIT, has prepared the finance agreements, purchase agreement, bill of sale, title affidavit, and other documents necessary to complete the sale. Title Depot has been selected as the closing agent and has finished the abstract and title commitment, awaiting the final closing date. The distribution from the sale would be sufficient to fund the $252,000.00 payment. The cash infusion will prepay the first $252,000.00 of obligations to BOA under the plan (approximately eighteen months). This equity infusion will only impact treatment of the Class 2 Claim. Class 2 consists of the Secured Claim of Bank of America, NA. The Secured Claim of Bank of America, N.A. is fully secured and allowed in the approximate amount of $2,444,217.54. The Class 2 Claim shall be amortized over thirty years at the contractual rate of SOFR plus 2.95%, with the applicable SOFR rate on the Effective Date. The applicable interest rate will be subject to change according to the terms of the BOA Loan Documents. Payments will commence on the last day of the first month after the Distribution Date and will continue through the 36th month after the Distribution Date. Within thirty days from the Distribution Date, the Janice Bruno Irrevocable Trust, holder of an Existing Equity Interest, will pay a lump sum payment of $252,000.00 to BOA as a prepayment of approximately the first fifteen months, with monthly payments of principal interest resuming in the 16th month after the Distribution Date. A true up will occur at the end of the fifteenth month when BOA calculates the actual amounts due using the applicable variable interest rate. Any deficiency will be paid with the payment due on the 16th month; any surplus will be applied to the payment due for the 16th month. A balloon payment for the remaining balance of the Class 2 Claim shall be paid on the last day of the 37th month after the Distribution Date. Based on current information, the Debtor estimates that the balance due under the balloon payment will be $2,264,527.00. The balloon payment will be funded through BOA's collateral being refinanced with a third party lender, payoff by an equity holder, or a sale of the collateral. The Class 2 claim is secured by a mortgage on the Debtor’s real property. BOA shall retain its lien on the Debtor’s property until paid in full. Like in the prior iteration of the Plan, each Holder of an Allowed General Unsecured Claim shall receive quarterly cash payments equal to its Pro Rata share of $195,000.00, to be paid over a period of eighty-four months. Payments shall commence on the first day of the fifteenth month after the Distribution Date. Class 5 will also receive fifty percent of the Litigation Funds, after payment of all Allowed Administrative Expense Claims, Priority Claims, Priority Tax Claims. Any distributions of Litigation Funds will not be applied towards the quarterly payment amounts. This Class will receive a distribution of 15% of their allowed claims. BOA is the holder of an allowed Administrative Claim in the amount of $61,963.19. The BOA Administrative Claim will be paid within ninety days of the Effective Date. JBIT, a member of the Debtor, will guarantee $200,000.00 of obligations to BOA during the term of this Plan. The funds to guarantee payment will be a capital contribution from JBIT through Capital Advisors. Capital Advisors, LLC is a Nevis limited liability company that provides private financial and lending services globally. It is located in Charlestown, Nevis, West Indies and is not a member, insider, or related party to the Debtor or its members. The Debtor and other entities owned by some members of the Debtor are customers of Capital Advisors. Neither the Debtor nor its members have any ownership, control, or interest in Capital Advisors. A dedicated account has been established by Capital Advisors with a current balance in excess of $200,000.00. The Debtor will not be responsible for repayment of any funds provided by JBIT pursuant to this guaranty, nor will any property of the Debtor be used as collateral for the guaranty. Besides the equity infusion, an additional equity infusion of $252,000.00 will be made by JBIT. The funds for the equity infusion will be obtained from profits generated through the sale of property owned by a separate non-debtor entity. This equity infusion will only impact treatment of the Class 2 Claim. On or before November 27, 2025, the expiration date of the current lender placed insurance, the Debtor will obtain property insurance in accordance with the terms set forth in the BOA Loan Documents. If the Debtor defaults on its requirement to maintain property insurance, such default must be cured within forty-five days of written notice of default. If the Debtor fails to cure the default within forty-five days of written notice, the Debtor will consent to reopening this case and conversion to Chapter 7. The Debtor is not required to maintain flood insurance. A full-text copy of the Amended Combined Plan and Disclosure Statement dated July 31, 2025 is available at https://urlcurt.com/u?l=vnDBHr from PacerMonitor.com at no charge. Attorneys for the Debtor: Patrick S. Garrity, Esq. Albert J. Derbes, IV, Esq. Derbes Law Firm, L.L.C. 3027 Ridgelake Drive Metairie, LA 70002 Tel: (504) 837-1230 Fax: (504) 832-0322 Email: pgarrity@derbeslaw.com About West Centro West Centro, LLC, is primarily engaged in renting and leasing real estate properties. It owns the real property located at 2100-2108 Franklin St., Gretna, La., valued at $2.4 million. West Centro filed Chapter 11 petition (Bankr. E.D. La. Case No. 24-11536) on Aug. 7, 2024, with total assets of $3,362,535 and total liabilities of $3,478,874. Judge Meredith S. Grabill oversees the case. The Debtor is represented by Patrick Garrity, Esq., at The Derbes Law Firm, LLC. WOHALI LAND: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Wohali Land Estates, LLC 247 Village View Drive Coalville, UT 84017 Business Description: Wohali Land Estates, LLC develops the Wohali master-planned community in Coalville, Utah, combining private residential neighborhoods with public-access resort amenities such as a golf course, lodge, spa, and dining facilities. The development's design integrates luxury homes and estate lots with hospitality, recreation, and infrastructure improvements including public roadways, utility systems, and environmental stabilization measures. Its operations include property maintenance and site preparation to preserve asset value and support future construction. Chapter 11 Petition Date: August 8, 2025 Court: United States Bankruptcy Court District of Utah Case No.: 25-24610 Judge: Hon. Peggy Hunt Debtor's Counsel: Mark C. Rose, Esq. McKAY, BURTON & THURMAN, P.C. 2180 S 1300 E Ste 400 Salt Lake City, UT 84106-7814 Tel: 801-521-4135 E-mail: mrose@mbt-law.com Estimated Assets: $100 million to $500 million Estimated Liabilities: $100 million to $500 million John Robert Kaiser signed the petition as manager. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/BDVURPY/Wohali_Land_Estates_LLC__utbke-25-24610__0001.0.pdf?mcid=tGE4TAMA WOLFE-BLURTON FUNERAL: Taps Sgro Hanrahan Durr as Attorney ---------------------------------------------------------- Wolfe-Blurton Funeral Home Inc. seeks approval from the Central District of Illinois to employ Sgro, Hanrahan, Durr, Rabin & Reinbold, LLP as its attorney. The firm will render these services: (a) give the Debtor legal advice with respect to its rights, powers and duties as Debtor-in-Possession in connection with the administration and management of the bankruptcy estate and its property; (b) take such action as may be necessary with respect to claims filed in the bankruptcy case; (c) prepare applications, motions, complaints, orders and pleadings as may be necessary in connection with the appropriate administration of this case; (d) represent the Debtor with respect to inquiries and negotiations concerning creditors; (e) initiate, defend or otherwise participate on behalf of the Debtor in all proceedings before this Court; and (f) perform other legal services on behalf of the Debtor as may be required to aid in the proper administration of the bankruptcy estate. The firm will be paid at these rates: Attorneys $250 per hour Paralegal $75 per hour The firm received a retainer in the amount of $10,000. Jeana Reinbold, a partner at Sgro, 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: Jeana K. Reinbold, Esq. SGRO, HANRAHAN, DURR, RABIN & REINBOLD, LLP 1119 S. 6th Street Springfield, IL 62703 Tel: (217) 789-1200 E-mail: jeana@casevista.com About Wolfe-Blurton Funeral Home Inc. Wolfe-Blurton Funeral Home Inc., operating as Blurton Funeral Homes, is a Potomac, Illinois-based funeral home business provides funeral services, burial arrangements, and cremation services to families in Vermilion County and surrounding areas. Wolfe-Blurton Funeral Home Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 25-90427) on July 29, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented Jeana K. Reinbold, Esq. at Sgro, Hanrahan, Durr, Rabin & Reinbold, LLP. WOLFSPEED INC: Hires Ernst & Young LLP as Tax Service Provider -------------------------------------------------------------- Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Ernst & Young LLP as their tax, accounting, valuation, and consulting services provider. EY LLP will provide these services: a. 2025 Fresh-start Valuation and Accounting -- Fresh-start accounting and valuation (ASC852) -- Technical accounting and financial reporting assistance during the bankruptcy proceedings -- Tax valuation related to associated US tax reporting requirements -- Valuation support for year-end financial reporting requirements (ASC350 and ASC360) b. 2025 SOX Compliance -- Assist with Wolfspeed's internal control over financial reporting program for fiscal year 2025. c. 2024 Transfer Pricing -- Preparation of transfer pricing documentation reports and tested party data analysis for the fiscal year ended June 30, 2024, fiscal year ending June 29, 2025, and fiscal year ending June 28, 2026. d. 2024 Tax Compliance -- Individual tax services for authorized assignees including related payroll and advisory services for 2024 calendar tax year and 2024/2025 fiscal tax years. EY LLP intends to charge these rates: 2025 Fresh-start Valuation and Accounting -- EY LLP will charge the Debtors based on actual time that EY LLP’s professionals spend performing the services, billed at the following agreed upon rates for each level: Partner/Principal $800 Managing Director $700 Senior Manager $600 Manager $500 Senior Associate $400 Associate $350 2025 SOX Compliance -- Fixed fee of $506,000 for 2025 SOX calendar year (Dec 1, 2024 - August 31, 2025). For services provided through June 2025, the fixed fee is $393,555. This amount has been fully paid by Debtors. -- For SOX services ending August 31, 2025, the fixed fee is $112,445 2024 Transfer Pricing -- Fixed fee of $90,300 for fiscal year 2024, of which $88,811.50 has been paid by the Debtors. -- Fixed fee of $78,000 - $89,500 for fiscal year 2025 -- Fixed fee of $77,000 - $86,000 for fiscal year 2026 2024 Tax Compliance -- The fixed fees associated with the numerous service offerings are listed in the 2024 Tax Compliance Statement of Work. -- Fees for on-call services are billed based on the actual time that EY LLP’s professionals spend performing the services, billed at the following agreed upon rates for each level: Partner/Principal $775 Managing Director $725 Senior Manager $650 Manager $550 Senior $450 Staff $275 EY LLP received a retainer in the amount of approximately $300,000. Britt Byrom, a partner at Ernst & Young, assured the court that his firm does not hold or represent an interest adverse to the Debtors or their estates; and is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: Britt Byrom Ernst & Young LLP 100 North Tryon Street, Suite 3800 Charlotte, NC 28202 Phone: (704) 372-6300 About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Hires FTI as Financial Advisor, Appoints CRO/DCRO ---------------------------------------------------------------- Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ FTI Consulting, Inc. as financial advisor and designate Carlin Adrianopoli as chief restructuring officer and Daniel Hugo as deputy chief restructuring officer. FTI will provide these services: Restructuring Advisory Services -- coordinate the activities of the Debtors' advisory team and advise the Debtors and their Finance Committee on the restructuring; -- assist the Debtors in operating as a debtor in possession in a case under Chapter 11 of title 11 of the United States Bankruptcy Code; -- manage the day-to-day activities of the restructuring; -- support the Debtors, counsel and other professionals in restructuring negotiations and communications with the Debtors' lenders and other stakeholders; -- assist the Debtors and counsel in the preparation of any required financial disclosures and reporting requirements including, but not limited to, the preparation of schedules of assets and liabilities, statement of financial affairs, monthly operating reports or any other similar period reports, and any necessary or required financial disclosures in connection with any debtor in possession financing, disclosure statement and/or Chapter 11 plan; -- assist with claims reconciliation and objections; -- if needed, provide testimony supporting the Debtors' first day motions, petitions, plan of reorganization, and other as the circumstances warrant; -- assist the Debtors with and participate in its initial debtor interview and the meeting of creditors, as needed; and -- other Chapter 11 related services as may be reasonably requested by the Debtors and counsel, and are customary in this type of engagement. Financial Forecasting, Analysis and Related support -- work with Debtors' management in maintaining and refining a 13-week cash flow forecast and prepare cash flow budget to actual variance analysis as needed, including; -- work with management in the alignment of the cash flow forecast with current budget and longer-term business plan; -- support management in maintaining a recurring reporting cadence update to the cash forecast and improve the cash flow forecast and liquidity planning process, as applicable; -- assist the Debtors in the preparation of the financial projections in support of the plan of reorganization; -- assist the Debtors in the preparation of a liquidation analysis in support of the plan of reorganization; -- develop and review presentation materials, financial analyses, management reports; operating reports and other information; and -- support management, and the other advisors with analyses and information as may be required. Strategic Communications Services -- develop comprehensive communications strategy and materials across all major stakeholder audiences (including timeline of activities and responsibilities, messaging, Q&A, letters, talking points, etc.); -- build media relations plan and conduct outreach proactively and reactively on behalf of or in concert with the Debtors; -- lead training sessions for stakeholder-facing employees in the days leading up to a filing in order to equip them for messaging and communications rollout; -- build and maintain digital assets, including dedicated restructuring microsite, social media posts, and infographics; Other -- perform other services that may be reasonably requested and are customary in this type of engagement. FTI's current standard hourly rates are: Financial Advisory Services Senior Managing Directors $1,185 to $1,525 Directors / Senior Directors / Managing Directors $890 to $1,155 Consultants/Senior Consultants $485 to $820 Administrative / Paraprofessionals $190 to $385 Strategic Communications Services Senior Managing Directors $1,185 Directors / Senior Directors / Managing Directors $705 to $965 Consultants/Senior Consultants $435 to $565 Administrative / Paraprofessionals $165 FTI received a retainer in the amount of $500,000. Daniel Hugo, a senior managing director at FTI Consulting, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel Hugo FTI Consulting Inc. 155 North Wacker Drive, Suite 2600 Chicago, IL 60606 Telephone: (312) 252-4056 Email: dan.hugo@fticonsulting.com About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Hires Hunton Andrews Kurth as Bankruptcy Co-Counsel ------------------------------------------------------------------ Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Hunton Andrews Kurth LLP as bankruptcy co-counsel. The firm will render these services: a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their business; b) advise and consult on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c) attend meetings and negotiate with representatives of creditors and other parties in interest; d) take all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any actions commenced against the Debtors, and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including prosecuting objections to claims filed against the Debtors' estates; e) prepare pleadings in connection with the Chapter 11 Cases, including motions, applications, answers, draft orders, reports and other documents necessary or otherwise beneficial to the administration of the Debtors' estates; f) represent the Debtors in connection with obtaining authority to use cash collateral and post petition financing; g) appear before the Court and any appellate courts to represent the interests of the Debtors' estates; h) take any necessary actions on behalf of the Debtors to negotiate, prepare and obtain approval of a disclosure statement and confirmation of a chapter 11 plan of reorganization and all documents related thereto; i) advise the Debtors in connection with any sale of assets; j) provide non-bankruptcy services to the Debtors to the extent requested by the Debtors; and k) perform all other necessary legal services for the Debtors in connection with the Chapter 11 Cases, which may include (i) the analysis of the Debtors' leases and executory contracts and the assumption, rejection or assignment thereof, (ii) the analysis of the validity of liens against the Debtors, and (iii) advice on corporate and litigation matters, including both pending and threatened litigation and the administration and resolution of claims. The current hourly rates for the attorneys at Hunton are: Timothy A. (Tad) Davidson II, Partner $1,405 Ashley L. Harper, Partner $1,155 Philip M. Guffy, Associate $995 Catherine Rankin, Associate $895 Brandon Bell, Associate $795 Kaleb Bailey, Associate $690 Hunton received an aggregate amount of $436,344.50 as advance payment retainers. 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 UST Guidelines: Question: Did Hunton agree to any variations from, or alternatives to, Hunton's standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the Hunton professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the Debtors 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 Hunton's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Hunton's billing rates and material financial terms for its prepetition engagement of the Debtors are set forth in the Engagement Letter. Hunton's billing rates and material financial terms for Hunton's representation of the Debtors have not changed post-petition. Question: Have the Debtors approved Hunton's prospective budget and staffing plan, and, if so for what budget period? Response: Hunton has not prepared a budget and staffing plan. Timothy A. (Tad) Davidson II, Esq., a partner at Hunton Andrews Kurth, 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: Timothy A. (Tad) Davidson II, Esq. Hunton Andrews Kurth LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Telephone: (713) 220-3810 Email: taddavidson@HuntonAK.com About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Hires KPMG LLP as Accounting and Tax Advisor ----------------------------------------------------------- Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ KPMG LLP to provide accounting advisory, tax compliance, tax provision and tax consulting services. KPMG will provide these services: Accounting Advisory Services A. Pursuant to an engagement letter executed January 22, 2025 (the "Accounting Advisory EL"), KPMG's services will include addressing accounting inquiries by the Debtors and their professionals related to various transactions and other topics. KPMG will meet with the Debtors' management on a regular basis to share relevant KPMG thought leadership, information, insights, and potentially provide training. The scope and extent of KPMG's assistance will depend on the inquiry and needs of the Debtors, as communicated to KPMG. Requests for assistance may involve a single phone call or question, research, attendance at meetings, or the preparation of memoranda. KPMG will provide continued support throughout the life of the inquiry or transaction; and B. KPMG will meet with Debtors' personnel to identify the accounting matters under consideration, understand the Debtors' proposed accounting positions, if any, the potential viewpoints and alternatives related to the various accounting issues and the positions taken. In addition, KPMG will perform research of accounting literature, accounting practice, tax law, relevant legislative rulings, the experience of selected KPMG personnel for similar transactions, and KPMG will summarize the results. Tax Services Tax Compliance A. U.S. Federal, State and Local Income and Franchise Tax Returns: i. KPMG will prepare the U.S. federal, state and local income and franchise tax returns and supporting schedules for the FY25, FY26, and FY27 tax years, as described herein (the "Returns"). KPMG shall prepare the Returns set forth in Exhibit 1 of the tax compliance engagement letter dated June 20, 2025 (the "Tax Compliance EL"); and ii. KPMG will prepare additional income tax returns for any state or local jurisdictions and additional entities not identified in the Tax Compliance EL, subject to fee adjustments as described in the fees section of the aforementioned engagement letter and approved by the Debtors in writing. B. Succeeding Year Estimated Tax Payments, Extensions i. KPMG will prepare first quarter estimated tax payments and request extensions to file the Returns for the tax year immediately succeeding the last tax year included in the Tax Compliance EL, subject to fee adjustments as described in the fees section of this engagement letter and approved by the Debtors in writing. C. Succeeding Year Planning Activities i. KPMG will provide preliminary engagement planning activities related to the Returns for the tax year immediately succeeding the last tax year covered by the Tax Compliance EL. D. U.S. Federal Corporate Alternative Minimum Tax i. If requested by the Debtors, KPMG will re-calculate amounts, prepare supporting workpapers, or revise the Debtors' Corporate Alternative Minimum Tax analysis, calculations, or reporting. Tax Provision A. KPMG will provide the following quarterly and year-end tax provision services for the Debtors FY25, FY26, and FY27 ("Service Period"): i. Assist in the identification and computation of temporary and permanent differences between financial income and taxable income, including, but not limited to, UNICAP, fixed assets, interest capitalization, and Section 174; ii. Assist in the computation of the estimated Section 48D credit; iii. Assist in the computation of a preliminary federal and state income tax provision; iv. Assist in the computation of preliminary income tax related balance sheet account adjustments; v. Assist in the preparation of draft footnote disclosures; vi. Assist in the preparation of draft income tax provision workpapers inclusive of GAAP and non-GAAP workpapers; vii. Assist in preparation and review of the valuation allowance including technical memorandum; viii. Assist in preparation of uncertain tax positions including documentation based on historical positions and assist with identification of potential uncertain tax positions taken in the Service Period; and ix. Assist the Debtors in their efforts to work with its independent auditors to draft income tax provision work papers. Tax Consulting A. General Tax Consulting Services i. KPMG will provide tax consulting services covering general consulting matters associated with scoping eligibility, initial benchmarking, and tax technical support for various federal income tax credits and incentives contained within the Inflation Reduction Act of 2022, if applicable; ii. KPMG will provide routine general and tax consulting on matters that may arise for which the Debtors seek KPMG's advice and are not the subject of a separate engagement letter, such as: a) Assisting with research to determine whether the applicability of transaction tax to any product that is not mapped to a product code; and b) Preparing a written analysis including the underlying support for those items researched by KPMG. iii. KPMG will provide general tax consulting on matters related to the following: a) IRC Sec. 263A(f) interest capitalization; b) IRC Sec. 263A UNICAP; c) Inventory obsolescence under IRC Sec. 471; d) Preparation of the tax return UNICAP calculation for the year ended June 30, 2024; and e) Preparation of the UNICAP Form 3115 for the year ending June 29, 2025, including calculating the Section 481(a) adjustment. B. Section 48D Investment Tax Credit Services i. KPMG shall assist the Debtors with the identification and quantification of the expenditures that may qualify for the IRC Section 48D investment tax credit ("ITC") as follows: a) Analyzing the Debtors' qualified investments; b) Assisting the Debtors with understanding the tax compliance requirements to claim a credit; and c) Providing technical guidance related to the Section 48D rules or other tax technical provisions that impact the calculation of the Section 48D credit. ii. KPMG will prepare Forms 3115, application for change in accounting method, for the tax year ending 6/29/2025 related to the following: a) Revenue recognition (non-automatic method change); and b) Fixed assets (automatic method change). iii. KPMG may also calculate the Section 481(a) adjustments and prepare responses to IRS information requests related to the accounting method change requests listed above; iv. KPMG will prepare Form 911, request for taxpayer advocate service assistance, to request taxpayer advocate service (TAS) support with the processing of the Debtors' FY23 section 48D refund claim. KPMG may also collaborate with TAS as they coordinate with the IRS on the Debtors' FY23 Section 48D refund claim; and v. KPMG will prepare a placed-in-service memorandum that covers the Debtors' John Palmer ("JP") facility. The memorandum will include a summary of facts and the relevant law as well as an application of the law to the Debtors' facts; and vi. KPMG will prepare Form 3115 i.e., Application for Change in Accounting Method, for the tax year ending June 29, 2025 related to the following: a) Section 263 - Direct Reallocation Method C. Research Credit Services i. KPMG will provide the Debtors with tax consulting related to the following additional services for year-end support, including: a) Assisting with answering questions from the Financial Statement audit team; b) Providing a FIN 48 reserve calculation and analysis; and c) Estimating the fiscal year 2025 R&D tax credit, per findings of the Research Credit services for the credit year. D. Restructuring Tax Services i. KPMG will provide tax consulting services in connection with the Restructuring Plans. As agreed upon with the Debtors in advance, KPMG will provide analysis as to the federal, state, and local tax implications related to the Debtors efforts to restructure its current financial and other liabilities, including current and potential future debt or other restructurings or corporate structure initiatives ("Restructuring Plans"). Workstreams may include, but are not limited to, the following: a) Reading the applicable agreements related to the underlying debt instruments (the "Notes") and the Restructuring Plans; and b) Analyzing the tax consequences of the Restructuring Plans, including: a. Determining whether a significant modification as defined under treasury regulation section 1.1001-3 is anticipated including a calculation of the change in yield on the Notes; b. Analyzing the tax consequences of debt issuance costs and original issue discount; and c. Modeling the anticipated cash tax benefits and cash tax costs; c) Calculating the amount of insolvency for purposes of Section 108 immediately prior to the Restructuring Plans; d) Analyzing the cancellation of debt ("COD") income, including the application of Section 108 and consolidated tax return regulations relating to the restructuring of non-intercompany debt and the completed capitalization/settlement of intercompany debt; e) Analyzing Debtors' tax attributes including net operating losses, earnings and profits, tax basis in assets, and tax basis in stock of subsidiaries; f) Modeling the anticipated cash tax benefits and cash tax costs; g) Analyzing the application of the attribute reduction rules under section 108(b) and treasury regulation section 1.1502-28, including a benefit analysis of sections 108(b)(5) and 1017(b)(3)(D) elections; h) Analyzing any Section 382 issues, including a sensitivity analysis to reflect the Section 382 impact of the proposed and/or hypothetical equity transactions; i) Analyzing the tax implications of any internal reorganizations and proposal of restructuring alternatives; j) Analyzing the tax implications of any dispositions of assets and/or subsidiary stock; k) Analyzing potential bad debt, worthless stock, and retirement tax losses; l) Analyzing relevant tax elections available and assist with filing of any necessary election statements; and m) Analyzing the tax treatment of restructuring related costs. E. Section 382 Services Phase I: Determination Whether the Debtors Experienced Ownership Change or Changes KPMG shall: i. Assist the Debtors with analyzing the stock ownership history of Debtors from June 24, 2012, through December 31, 2024 (the "Analysis Period") to determine whether the Debtors have experienced one or more ownership changes, as defined in Section 382(g); ii. Prepare a preliminary listing of all entities that held a five percent or greater interest in the Debtors by value (each a "Potential 5-Percent Shareholder"); iii. With the assistance and consent of the Debtors, prepare and send standardized inquiry letters to each Potential 5-Percent Shareholder, if necessary; iv. If necessary, perform a sensitivity analysis related to any higher-tier entities that own greater than 10 percent of the Debtors to identify if potential higher-tier shifts could impact our conclusions; v. Prepare a transaction chronology for each class of stock, showing relevant (i) acquisitions, dispositions, and total shares held by each relevant shareholder, and (ii) the Debtors relevant stock issuances, redemptions, and acquisition history; vi. Prepare the Debtors ownership shift calculations using KPMG's proprietary Section 382 software ("KPMG 382"); and vii. Assist the Debtors with its preparation of a Statement of Facts, Assumptions, and Representations ("FAR") letter for the Debtors to review and confirm (to the extent that KPMG is required to determine a Section 382 limitation and adjustments to such limitation, KPMG may assist with the FAR letter subsequent to determining the preliminary 382 limitation). Phase II: Determination of Section 382 Base Limitation and Adjustments to Such Limitation -- For Each Change Separately KPMG shall: i. Compute the U.S. federal Section 382 annual base limitation on any ownership change date identified, including calculations of relevant adjustments, during the Analysis Period; and ii. Compute the Debtors' federal net unrealized built-in gain ("NUBIG") or net unrealized built-in loss ("NUBIL") and recognized built-in gains ("RBIGs") or recognized built-in losses ("RBILs") (as defined in section 382(h)) pursuant to notice 2003-65 on each identified ownership change date and compute the impact of these computations on the Debtors' section 382 limitation during the Analysis Period; a) KPMG will only calculate RBIG or RBIL associated with Section 197 Intangibles. Phase III: Technical Memorandum If requested, KPMG shall: i. Prepare a technical memorandum documenting conclusions with respect to the ownership change analysis, section 382 limitation calculation(s) detailed above. Phase IV: Other Related Services If requested, KPMG shall: i. Where higher-tier shift information is required, KPMG will work with the Debtors to identify a targeted list of shareholders and assist with collecting information for inclusion within the ownership change analysis; ii. Assist with drafting correspondence with potential direct and indirect 5-percent shareholders and analyze the transaction history of higher-tier entities to determine cumulative owner shift of the ultimate beneficial owners of the Debtors; iii. Incorporate the higher-tier shift data into the transaction chronology, calculations, and supporting memorandum, as applicable; iv. Assist with preparation of tax basis balance sheets; v. If members joined the US federal consolidated tax group within five years of an ownership change, assist with any analysis required to calculate NUBIG/NUBIL pursuant to Treas. Reg 1.1502-91(g); vi. Assist with a more in-depth calculation of projected RBIG and RBIL, including RBIG and RBIL associated with fixed assets, ownership in partnership interests, and other requested items not covered in the Section 382 base limitation and adjustment computation; vii. Provide consultation services regarding the usage of NOLs and the Debtors' other tax attributes, including an absorption schedule tracking the combined impact of multiple Section 382 limitations to various tranches of NOLs or other attributes accrued by the Debtors; viii. Model different permissible methods of the Hold Constant Principle under Notice 2010-50; ix. Provide analysis required under Section 384 related to the use of pre-acquisition losses with respect to the acquisition of a new corporation by the US federal tax consolidated group; x. Prepare Section 382 tax return disclosure statements for the Debtors relevant federal and state tax returns; xi. Assist the Debtors with updating its state NOL carryforward schedules; and xii. Model the impact of future hypothetical transactions -- such as significant shareholder sales and capital raises -- on the ownership change analysis completed pursuant to the services listed herein; and/or update the Section 382 ownership change analysis on a draft basis beyond this Analysis Period. F. OnDemand Indirect Tax Services i. KPMG has agreed to provide implementation, configuration maintenance, support, and training services for the Debtors' instance of Thomson Reuters ONESOURCE (the "OnDemand Indirect Tax Services" or "OITS") pursuant to the terms of engagement letter dated November 1, 2022 (the "Indirect Tax Services EL"); and ii. KPMG will provide the following services to assist in the preparation and support of the Debtors' use of Thomson Reuters ONESOURCE for indirect tax calculations on both purchases and sales transactions and support by the OITS team for the countries and entities listed in Appendix IV of the Indirect Tax Services EL. Overall Engagement Setup and Services i. KPMG shall provide services that enable the Debtors to utilize the OITS support mechanisms, including, but not limited to: implementation assistance, end user account setup, technical account setup, and access to the OITS Ticketing Tool. More specifically, KPMG shall: a) Set up end user and technical accounts, including access to the OITS Ticketing Tool and Thomson Reuters ONESOURCE instances as needed; and b) Confirm that KPMG has all the necessary accounts, hardware and software needed to properly access the Debtors Thomson Reuters ONESOURCE instances to perform the support efforts listed in the aforementioned engagement letter. Tax Policy Review and Configuration i. KPMG will provide tax-related information to assist the Debtors in defining their tax policy. The Debtors' tax policy will be used to setup and configure Thomson Reuters ONESOURCE to support automated tax determination and reporting which will include the following tasks and phases: Tax Policy Design, Documentation and Configuration a) KPMG shall summarize the Debtors' tax policy based on answers from questionnaires, follow-up interviews and discussions which will include, but is not limited to, product taxability, nexus information, and business practices relevant to tax determination; b) KPMG will assist the Debtors with product mapping; c) Upon the Debtors' completion of mapping Thomson Reuters ONESOURCE product taxability codes, KPMG shall provide to the Debtors a draft tax policy document for their review and approval; d) Upon the Debtors' approval of the draft tax policy document, KPMG will setup and configure Thomson Reuters ONESOURCE ("Configured System"), so it directly reflects the details set forth in the Debtors' approved draft tax policy document; and e) KPMG shall perform standard unit tests to validate the Debtors specific configurations in accordance with the signed tax policy document. Testing Validation i. KPMG shall perform standard unit tests to validate the Debtors specific configurations in accordance with the signed tax policy document; and ii. KPMG shall assist the Debtors with determining test scenarios based on the Debtors' tax policy to be used during acceptance testing and help the Debtors understand tax results during such testing. This assistance will include interpreting the tax results and working with the Debtors to resolve any issues. Production Cutover/Preparation i. Once user acceptance testing has been completed successfully, test reports have been reviewed, and upon the Debtors confirmation that user acceptance testing is complete and results are correct, KPMG will provide the Debtors with a final tax policy document for signature; ii. Upon receipt of the Debtors' signed tax policy document or written approval from the Debtors, KPMG shall migrate the tax policy configurations from the test environment to production environment; iii. Once implemented, OITS will support the configurations for the Debtors' production and one non-production instance of Thomson Reuters ONESOURCE; and iv. KPMG shall provide the Debtors a copy of their tax policy document for their review annually upon the anniversary of the effective date of the engagement letter dated November 1, 2022 with the last tax policy document for this engagement period being delivered on November 1, 2025. KPMG shall also provide a copy of the tax policy document to the Debtors upon the Debtors' request. G. Construction Tax Planning Services i. KPMG will perform a construction tax planning study which will focus on the costs of the Debtors' facility located at 1000 Carolina Core Parkway, Siler City, NC 27344 ( "Facility"). Specifically, KPMG will: a) Meet with the Debtors' design build team to establish project update cadence and to further understand building construction timeline and facility capabilities; b) Review available blueprint sets and cost information for the project; c) If agreed, and subject to site safety and security requirements and other conditions, inspect the facility to: a. Confirm general information regarding the construction; b. Identify specific items eligible for shorter cost recovery; and c. Take photographs (where permitted) and gather other documentation to support the final identified property. d) Identify appropriate cost recovery periods for the property; e) Review and categorize contractor and supplier invoices; f) Identify and segregate electrical, mechanical, plumbing, and other costs associated with section 1245 property or section 1250 property eligible for shorter cost recovery; and g) Compile documentation to support identified property classifications for federal tax purposes and develop schedules that segregate: a. Section 1245 and section 1250 items; b. Total direct costs for each item; and c. Allocable fees and overhead items. ii. KPMG construction tax services will include the following four categories of additional scoped work (the "Additional Construction Tax Planning Services"): a) JP Data Center - Analysis of the costs to construct the JP Data Center data center including the identification of costs associated with the data center that are eligible for the IRC Section 48D tax credit; b) Building Systems Evaluation -- KPMG will evaluate electrical, plumbing, and mechanical costs of the JP Facility construction for appropriate placed-in service date and identify appropriate recovery period class; this evaluation will identify and/or allocate the construction costs in these building systems to the Central Utilities Building (CUB) and First Production Line (FPL) equipment as applicable; c) Personal Property Evaluation -- KPMG will evaluate certain personal property categories of construction costs for appropriate placed-in-service date and identify appropriate recovery period class. This evaluation will identify and/or allocate the personal property construction costs to the CUB and FPL equipment as applicable; and d) Allocation of Capitalized Interest -- KPMG will review Client's capitalized interest calculations and allocate capitalized interest to the extent applicable to the assets included in the cost segregation study. H. Transaction Tax Services i. KPMG will provide transaction tax, including foreign value added tax (VAT) consulting services. Specifically, KPMG will: a) Assist the Debtors with their European Union VAT refund application in Germany relating to the VAT incurred on procurement of local goods and services; and b) Assist with deregistering entity from VAT perspective, including but not limited to preparing and submitting the deregistration letter to the German tax authority. KPMG provides the following compensation structure: Accounting Advisory Services Partners/Managing Directors $935 Directors $820 Managers $640 Senior Associates $472 Associates $345 Tax Services A. Tax Compliance The majority of fees to be charged for accounting advisory services reflect a reduction of approximately 27 percent to 45 percent from KPMG’s normal and customary rates. KPMG and the Debtors have agreed to a fixed fee of $188,000 for tax compliance services relating to the Tax Compliance EL. The Debtors shall pay $3,000 per combined state, local or franchise return and $2,200 per stand-alone state, local or franchise return. B. Tax Provision Partners $943 Directors/Senior Managers $858 Senior Associates $484 C. Tax Consulting Partners $870 to $1,615 Managing Directors $849 to $1,437 Directors/Senior Managers $792 to $1,233 Managers $615 to $1,122 Senior Associates $447 to $850 Associates $333 to $519 KPMG 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: Ryan J. Kelly KPMG LLP 1350 Avenue of the Americas New York, NY 10019 Tel: +1 212 997 0500 Fax: +1 212 730 6892 About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Seeks to Hire Latham & Watkins LLP as Legal Counsel ------------------------------------------------------------------ Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Latham & Watkins LLP to serve as its legal counsel. Latham & Watkins will provide these services: (a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their businesses and properties; (b) advise and consult on the conduct of the Chapter 11 Cases, including all legal and administrative requirements of operating in chapter 11; (c) advise and represent the Debtors in protecting and preserving the estates, including litigation and settlement negotiations; (d) analyze and object to claims filed against the Debtors; (e) assist in obtaining authority for use of cash collateral and debtor-in-possession financing; (f) attend and negotiate with creditors and other stakeholders; (g) analyze contracts and leases and potential assumption, assignment, or rejection; (h) prepare all necessary legal pleadings, motions, and reports; (i) advise in connection with any asset sales; (j) assist in obtaining approval of a disclosure statement and confirmation of a Chapter 11 plan; (k) appear in court as necessary to represent the estates' interests; (l) advise on corporate, litigation, tax, employee benefits, and other legal issues; and (m) perform all other necessary legal services in connection with the Chapter 11 Cases. Latham & Watkins' current hourly rates are: Partners $1,680 to $2,650 Counsel $1,595 to $2,070 Associates $835 to $1,635 Professional Staff $255 to $980 Paralegals $355 to $755 Latham & Watkins received payments and advances in the aggregate amount of $20,871,443.62 for services performed and expenses incurred, and to be performed and incurred, including in preparation for the commencement of the Chapter 11 Cases. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee Guidelines: a. Question: Did Latham & Watkins agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. b. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. c. 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. Answer: From January 1 until April 4 of this year, Latham & Watkins used the following rates for services rendered on behalf of the Debtors: $1,595 to $2,650 for partners; $1,595 to $2,070 for counsel; $835 to $1,595 for associates; $255 to $1,230 for professional staff; and $355 to $755 for paralegals. From April 4 of this year through the Petition Date, Latham & Watkins used the following rates for services rendered on behalf of the Debtors: $1,875 to $2,850 for partners; $1,775 to $2,450 for counsel; $975 to $1,820 for associates; $305 to $1,260 for professional staff; and $380 to $970 for paralegals. current hourly rates for services rendered on behalf of the Debtors are set forth in paragraph 14 above. Except as disclosed above, all material financial terms have remained unchanged since such prepetition period, except (i) the rates for certain lawyers advising the Debtors in these Chapter 11 Cases will be limited by the applicable rates ranges set forth in paragraph 14 above and (ii) for a postpetition 50% discount for non-working travel time. Latham & Watkins received a $829,760 premium with respect to one nonrestructuring matter in 2024. d. Question Have the Debtors approved Latham & Watkins's budget and staffing plan and, if so, for what budget period? Answer: The Debtors have approved the budgeted fees and expenses of Latham & Watkins, reflected in the amounts set forth for professional fees in the approved (13-week) budget appended to the Interim Cash Collateral Order as Exhibit 1 thereto. The Debtors understand and agree that the budgeted amounts set forth therein reflect a good-faith estimate of, rather than a cap on, professional fees and expenses. Latham & Watkins LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Ray C. Schrock, Esq. Candace M. Arthur, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 Telephone: (212) 906-1200 Facsimile: (212) 751-4864 Email: ray.schrock@lw.com candace.arthur@lw.com About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Taps Katten Muchin Rosenman LLP as Special Counsel ----------------------------------------------------------------- Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Katten Muchin Rosenman LLP as special counsel. Prior to the Petition Date, Katten provided various legal services relating to the Disinterested Directors' duties as Disinterested Directors and members of the Special Investigation Committee. The Disinterested Directors, with the assistance of Katten, are conducting the Independent Investigation into whether the Debtors hold colorable, potentially viable, and timely claims and causes of action. Katten will charge the following hourly rates: Partner $1,205 to $2,380 Of Counsel $1,110 to $2,100 Counsel and Special Staff $610 to $1,615 Associate $715 to $1,210 Paralegal $230 to $860 In the 90-day prior to the Petition Date, Katten received $500,000 in advance fee deposits from the Debtors. 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 Wolfspeed on behalf of and at the sole discretion of the Disinterested Directors 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 Wolfspeed on behalf of and at the sole discretion of the Disinterested Directors, as of June 2, 2025, to the Petition Date, Katten has followed the hourly billing rates set forth in this Declaration. In certain discrete litigation matters, negotiated billing rates have been used by the Screened Katten Attorneys. 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 Debtors and Disinterested Directors, has developed a budget and staffing plan for the duration of these Chapter 11 Cases. Steven J. Reisman, 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 Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOLFSPEED INC: Taps Perella Weinberg Partners as Investment Banker ------------------------------------------------------------------ Wolfspeed, Inc. and Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Perella Weinberg Partners LP as investment banker. The firm will provide these services: a. General Financial Advisory and Investment Banking Services i. familiarize itself with the business, operations, properties, financial condition and prospects of the Debtors; ii. review the Debtors' financial condition and outlook; iii. assist in the development of financial data and presentations to the Debtors' Board of Directors, various creditors, and other parties; iv. analyze the Debtors' financial liquidity and evaluate alternatives to improve such liquidity; v. evaluate the Debtors' debt capacity and alternative capital structures; vi. advise the Debtors with respect to potential waivers or amendments of various credit facilities; and vii. provide such other advisory services as are customarily provided in connection with the analysis of any of the transactions contemplated by the Engagement Letter, as requested and mutually agreed. b. Restructuring Services i. analyze various Restructuring transactions and the potential impact of those scenarios on the value of the Debtors and the recoveries of those stakeholders impacted by such transaction; ii. provide financial advice and assistance to the Debtors in developing a Restructuring; iii. in connection therewith, provide financial advice and assistance to the Debtors in structuring any new securities to be issued under a Restructuring; and iv. assist the Debtors and/or participate in negotiations with entities or groups affected by the Restructuring. c. Financing Services i. provide financial advice to the Debtors in structuring and effecting a Financing, identify potential Investors, and, at the Debtors' request, contact and solicit such Investors; and ii. assist in the arranging of a Financing, including identifying potential sources of capital, assisting in the due diligence process, and negotiating the terms of any proposed Financing, as requested. d. Sale Services i. provide financial advice to the Debtors in structuring, evaluating and effecting a Sale (as defined in the Engagement Letter), identify potential acquirers and, at the Debtors' request, contact and solicit potential acquirers; and ii. assist in the arranging and executing a Sale, including identifying potential buyers or parties in interest, assisting in the due diligence process, and negotiating the terms of any proposed Sale, as requested. PWP will be compensated for its services as follows: (1) Monthly Fee A monthly financial advisory fee of $200,000, commencing on April 1, 2025 and continuing each month of the engagement, due and payable on the first day of each month during the engagement, with the first Monthly Fee due upon execution of the Engagement Letter; provided that 50 percent of all Monthly Fees payable after the ninth Monthly Fee shall be creditable one time against any Restructuring Fee paid under the Engagement Letter (but in no event shall such crediting result in such fee being less than zero); plus (2) Restructuring Fee A Restructuring Fee equal to $24,500,000 payable promptly upon closing; provided that in the event the Debtors contemplate filing "prepackaged" or "pre-arranged" bankruptcy, then (x) 50 percent of the Restructuring Fee shall be payable at the earlier of (i) approval by the Debtors of a restructuring support agreement, lock-up agreement or similar agreement or (ii) the launch of a solicitation of votes for a pre-packaged or reorganization plan and (y) the remaining unpaid Restructuring Fee shall be payable promptly upon consummation of a Restructuring; plus (3) Financing Fee A Financing Fee, payable promptly upon consummation of such Financing, equal to (x) 1.50 percent of the face amount of secured debt issued by the Debtors, plus (y) 3.00 percent of the face amount of any new equity or equity-linked securities issued by the Debtors; provided that with respect to any Financing led by J.P. Morgan Securities LLC, PWP shall be entitled to receive 30 percent of all transaction fees payable by the Debtors in relation to such transaction or series of transactions; provided, further, that 50 percent of the Financing Fee shall be creditable one time against any Restructuring Fee that becomes payable pursuant to the paragraph in the Engagement Letter setting forth the Restructuring Fee terms (but in no event shall such crediting result in such fee being less than zero); plus (4) Sale Fee A Sale Fee to be mutually agreed to in good faith on market terms between PWP and the Debtors in writing and payable promptly upon consummation of a sale in connection with which the Debtors request PWP’s services; provided that a Sale Fee and a Restructuring Fee shall not be payable for the same transaction; plus (5) General Advisory Fee A General Advisory Fee equal to $5,000,000 to be paid upon the earlier of (i) the consummation of the first Financing, Sale, or Restructuring and (i) December 31, 2025; provided that the General Advisory Fee shall be payable no more than one time (if any); provided, further, that no General Advisory Fee shall be payable if the Restructuring Fees paid hereunder are more than $5,000,000; plus (6) Discretionary Fee A Discretionary Fee equal to $2,000,000, which may be payable in the sole discretion of the Debtors upon the consummation of a transaction in an amount (if any) to be determined in the sole discretion of the Debtors. In addition, the firm will seek reimbursement for expenses incurred. Alexander Tracy, a partner at Perella Weinberg Partners, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Alexander Tracy Perella Weinberg Partners LP 767 Fifth Avenue New York, NY 10153 Telephone: (212) 287-3200 About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WORKHORSE GROUP: Inks New Exclusivity Deal With EV Manufacturer --------------------------------------------------------------- Workhorse Group Inc., an American technology company focused on pioneering the transition to zero-emission commercial vehicles, announced in a press release that it has entered into a new exclusivity agreement with a privately held U.S.-based manufacturer of electric commercial vehicles in connection with a previously disclosed potential transaction. As previously announced, the Company is currently in discussions with the Manufacturer about a potential transaction in which the Manufacturer would be merged into a newly created subsidiary of the Company in exchange for newly issued shares of the Company's common stock. In connection with the Potential Transaction, on July 14, 2025, the Company entered into an Exclusivity Agreement with the Manufacturer, which provided that, for a period of 14 days and subject to a customary "fiduciary out," the Company would not, among other things, provide information to, negotiate with or enter into a definitive agreement with a third party for an alternative transaction to the Potential Transaction. On July 28, 2025, the Restrictions under the Prior Exclusivity Agreement expired. On August 4, 2025, the Company entered into a new Exclusivity Agreement, which put the Restrictions on the Company from the Prior Exclusivity Agreement back into place for a period of seven days. About Workhorse Group Workhorse Group Inc. -- http://www.workhorse.com-- is an American technology company with a vision to pioneer the transition to zero-emission commercial vehicles. The Company designs, develops, manufactures and sells fully electric ground and air-based electric vehicles. New York, N.Y.-based Berkowitz Pollack Brant Advisors + CPAs, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has incurred a net loss of $101.8 million and used $47.6 million of cash in operating activities during the year ended December 31, 2024, and as of December 31, 2024 the Company had total working capital of $8.2 million, including $4.1 million of cash and cash equivalents, and an accumulated deficit of $853.4 million. These conditions, along with the other matters, raise substantial doubt about the Company's ability to continue as a going concern. WT REPAIR: Hires DMBruce Owner Solutions as Accountant ------------------------------------------------------ WT Repair, LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ DMBruce Owner Solutions as accountant. The firm will prepare for the preparation and compilation of financial statements for the filing of the Monthly Operating Report, and for accounting, bookkeeping, and consulting services as requested. The firm will be paid a monthly rate of $1,500. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Bruce 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: Kevin C. Bruce DMBruce Owner Solutions 4910 Corporate Centre Drive, Suite 101 Lawrence, KS 66047 Tel: (785) 832-2600 About WT Repair, LLC WT Repair, LLC is engaged in buying and selling farm equipment. WT Repair sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan.) on May15, 2025. Judge Dale L. Somers presides over the case. Colin N. Gotham at Evans & Mullinix, P.A. represents the Debtor as legal counsel. WYNDSTON MILLWORK: Unsecureds to Get Share of Income for 5 Years ---------------------------------------------------------------- Wyndston Millwork, LLC, filed with the U.S. Bankruptcy Court for the Middle District of Louisiana an Original Subchapter V Plan. The Debtor is a Louisiana limited liability company that owns and operates millwork in Ponchatoula, LA. This Plan proposes to pay unsecured creditors of the Debtor its projected disposable income after the Effective Date to be paid over five years, which is greater than the liquidation value. The Debtor projects sufficient funds through the Plan Sponsor and operations sufficient to make distributions to creditors. The financial projections indicate that the Debtor, after payments for expenditures necessary for the continuation, preservation and operations, unclassified Claims and Secured Claims, will have projected disposable income for five years. The anticipated Effective Date is December 31, 2025. Payments will commence pursuant to the terms of this Plan. Class 3 consists of holders of Allowed General Unsecured Claims. Quarterly payments to commence at the end of the first full calendar quarter after the Effective Date and to continue for eighteen quarters. This Class is impaired. Class 4 consists of the holders of Equity Securities, i.e., the Debtor's members. Holders of Equity Securities shall retain their interests. Stephen and Wendi French shall continue to serve as the managers of the Debtor. Following the Effective Date, the Debtor shall continue operating at its new location and make all required payments to creditors under the terms of this Plan, including, quarterly payments to American Bank and periodic payments on account of Allowed Priority Tax and Priority Non-Tax Claims, using projected disposable income. Following the Effective Date, the Debtor shall continue operating at its new location and make all required payments to creditors under the terms of this Plan, including, quarterly payments to American Bank and periodic payments on account of Allowed Priority Tax and Priority Non-Tax Claims, using projected disposable income. A full-text copy of the Plan of Reorganization dated July 30, 2025 is available at https://urlcurt.com/u?l=A9I09D from PacerMonitor.com at no charge. Counsel to the Debtor: Ryan J. Richmond, Esq. Sternberg, Naccari & White, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Telephone: (225) 412-3667 Facsimile: (225) 286-3046 Email: ryan@snw.law About Wyndston Millwork LLC Wyndston Millwork LLC, doing business as Acadian Architectural Woodwork, specializes in custom architectural millwork and woodworking services. Based in Ponchatoula, Louisiana, the Company offers a range of products including doors, windows, mouldings, columns, corbels, furniture, hardware, and pre-hung interior and exterior door units. Wyndston Millwork LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. La. Case No. 25-10353) on April 28, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Judge Michael A. Crawford handles the case. Ryan J. Richmond, Esq., at Sternberg, Naccari & White, LLC, is the Debtor's legal counsel. American Bank and Trust Company, as secured lender, is represented by: Wayne A. Maiorana, Jr., Esq. Newman, Mathis, Brady & Spedale A Professional Law Corporation 3501 N. Causeway Blvd., Suite 300 Metairie, LA 70002 Telephone: (504) 837-9040 Tmaiorana@newmanmathis.com YS GARMENTS: S&P Lowers ICR to 'CCC-' on Heightened Default Risk ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating to 'CCC-' from 'CCC' on YS Garments LLC (dba Next Level Apparel). At the same time, S&P lowered its issue-level rating on Next Level's first-lien debt to 'CCC-' from 'CCC'. The '3' recovery rating is unchanged, indicating its expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default. The negative outlook reflects the possibility that S&P could lower the rating on Next Level if it believes default is a virtual certainty. Next Level's entire capital structure is now current, with its $207 million outstanding first-lien term loan maturing in August 2026 and $41.2 million revolving credit facility maturing in February 2026. Next Level entered multiple waivers with its lender group to address compliance with its financial maintenance covenants, the latest of which expires at the end of this month. The company would have breached its covenants in the last three quarters and has yet to file its annual audit for the year ended Dec. 31, 2024. The downgrade reflects a greater likelihood of a debt restructuring or default over the next six months because of upcoming maturities. Next Level will need to refinance its capital structure in the next six months, with its $41.3 million revolver ($35 million outstanding as of June 30, 2025) maturing in February 2026 and $207 million first-lien term loan is now current, maturing in August 2026. However, weak profitability in prior years and challenging market conditions have delayed its plans to complete a refinancing in the first quarter of 2025, despite improved performance over the last six months. Since this time, Next Level entered multiple temporary waivers with its lender group due to its inability to maintain compliance with its year-end 2024 audit reporting requirement and total net leverage covenant for the quarters ended Dec. 31, 2024, through June 30, 2025. The current waiver period extends through August 2025. S&P said, "We believe that a refinancing is challenged given Next Level's high S&P-adjusted leverage of about 8x and weak interest coverage below 1x as of the last 12 months ended June 30, 2025. Next Level reported improved sales growth of 15% in the first half of 2025, supported by the company's strategic initiatives and tariff risk temporarily pulling forward sales to customers. However, we expect leverage will remain elevated beyond covenant-compliance levels and Next Level's operating performance may not sufficiently recover in the next quarter to support a refinancing on satisfactory terms. Additionally, Next Level's debt is trading below par, a possible indicator of the risk for a potential distressed exchange. "We revised our assessment of Next Level's liquidity to weak from less than adequate. The company's revolver was nearly fully drawn, with $35 million outstanding under a $41 million commitment as of June 30, 2025. We believe further draws are limited by its maximum leverage ratio covenant next quarter. As a result, Next Level's liquidity is limited to its cash balance of $26 million as of June 30, 2025 and our forecast for about $11 million of free operating cash flow (FOCF) in 2025, primarily from inventory reduction. We believe the company can service its quarterly debt service requirements of about $2 million in amortization and cash interest of $6 million over the next year. However, we view the company's liquidity as weak because it does not have sufficient cash to repay its soon-to-mature credit facilities absent a refinancing. "The negative outlook reflects the possibility that we could lower the rating on Next Level if we believe default is a virtual certainty or in the event of a default." S&P could lower its ratings on Next Level if it: -- Announces an exchange offer or similar restructuring that S&P classifies as distressed; or -- Files for bankruptcy; or -- Misses a principal and/or interest payment. S&P could take a positive rating action on Next Level if it believes there is a lower likelihood of a default in the subsequent six months. This could occur if: -- The company refinances its upcoming debt maturities; and -- S&P does not consider the refinancing as tantamount to a default because of satisfactory terms that compensate for any potential maturity extension or change in security/priority ranking. [] Falmouth Casino Wharf Condominiums Up for Sale on August 20 -------------------------------------------------------------- Sullivan & Sullivan Auctioneers LLC will hold an on-site foreclosure auction on Aug. 20, 2025, at 12:00 p.m., for the sale of a casino wharf condominium consists, units 5 & 6, located at 286 Grand Avenue, Falmouth, Massachusetts. The two Waterfront Luxury Condos will be sold individually: (a) Unit 5: 3,097± sf luxury unit having 7 rms, 4 BRs & 3 baths, and (b) Unit 6: 3,093± sf luxury unit having 6 rms, 3 BRs & 3.5 baths Under the terms of auction, a $25,000 deposit (per unit) by bank check at time & place of sale; deposit must be increased to 10% of purchase price within 7 days and balance will be due in 30 days. Bank check should be made payable to the person attending the auction. If they are the successful high bidder, they will be instructed to endorse the check to the bank's attorney. Accuracy of information not guaranteed. Additional terms announced at sale. Properties sold "AS IS". For full terms of the auction visit: https://tinyurl.com/2tnr4c4u ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2025. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The single-user TCR subscription rate is $1,400 for six months or $2,350 for twelve months, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each per half-year or $50 annually. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***